EDUCATION DEVELOPMENT CENTER INC

EIN: 042241718 501(c)(3)

Waltham, MA

Total Revenue
$159,199,685
Total Expenses
$156,382,480
Total Assets
$124,492,354
Net Assets
$73,081,514
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1958
Legal Domicile
MA
Principal Officer
Siobhan Murphy
Phone
6179697100
Tax Period
2024-10-01 to 2025-09-30

EDUCATION DEVELOPMENT CENTER INC, founded in 1958, is a major nonprofit that reported $159.2M in total revenue in fiscal year 2024. Revenue fell 24% from the prior year — a significant decline worth monitoring.

Mission

Education Development Center, Inc. (EDC), is a global nonprofit with the mission to advance every person's journey to learn, work, and be well. Since 1958, we have been a leader in designing, implementing, and evaluating powerful and innovative programs in more than 80 countries. Guided by our strategic vision, EDC strives to ensure that all people are empowered to lead healthy, productive lives. To realize our vision, we are working to achieve four ambitions: 1. Children have quality education and care in their crucial early years. 2. People have the skills, agency, and resilience to flourish in a changing world. 3. Teachers and education systems are equipped to meet the ever-changing needs of all learners. 4. Everyone's well-being is enhanced by safe environments, quality health care, and nurturing relationships. EDC's 2025 work had 14 key focuses. Our services included the following: EDC Solutions; Research & Evaluation; Design & Development; Implementation; and Policy.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $155,770,814
Program Service Revenue $934,330
Investment Income $2,494,541
Other Revenue $0
TOTAL REVENUE $159,199,685

Expense Breakdown

Grants Paid $33,873,661
Salaries & Benefits $87,643,294
Fundraising Expenses $0
Program Expenses $138,733,454
Other Expenses $34,865,525
TOTAL EXPENSES $156,382,480

Year-over-Year Comparison

2024 2023 Change
Revenue $159,199,685 $210,774,465 -0.2%
Expenses $156,382,480 $200,093,700 -0.2%
Net Income $2,817,205 $10,680,765 -0.7%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
15
Independent Members
14
Employees
779
Volunteers
N/A

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
6
$1,955,199
Total Directors
24
$490,250
Key Employees
5
$1,940,170
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Siobhan Murphy CEO eff March 25, 2025 40
Officer Director
$428,603 $61,647 $490,250
Liesbet Steer President and CEO, resigned eff 5.1.24 40
Officer
$462,044 $14,979 $477,023
Cheryl Hoffmann-Bray C.F.O., C.C.O., Sr. V.P.,Treasurer, retired Aug. 2025 40
Officer
$393,074 $71,109 $464,183
Cindy Taylor Sr. V.P. Program Area Lead 40
Key Emp
$373,308 $69,790 $443,098
Nancy Devine Sr. V.P., IDD 40
Key Emp
$373,049 $50,924 $423,973
Christine Filosa Sr. V.P., General Counsel, Corporate Secretary 40
Officer
$346,192 $63,724 $409,916
Shelley Pasnik Senior Vice President 40
Key Emp
$323,291 $60,498 $383,789
Kate Hughes Director & Interim Chief Human Resources Officer 40
Key Emp
$321,881 $61,750 $383,631
Raymond Davis Vice President & Chief Technology Officer 40
Highest
$306,153 $57,694 $363,847
Rebecca Stoeckle Senior Vice President 40
Highest
$280,096 $51,337 $331,433
Andrew Lewis Chief of Party 40
Highest
$281,626 $33,082 $314,708
Andrea Bosch Chief of Party IV 40
Highest
$281,224 $33,082 $314,306
Sarita Pillai Sr Vice President, Portfolio Leader 40
Key Emp
$251,511 $54,168 $305,679
Jill Jarvi Chief of Party 40
Highest
$261,410 $15,927 $277,337
Rosemarie Brian Deputy CFO, Treasurer, eff. July 2024, partial year 40
Officer
$98,693 $15,134 $113,827
Anne Bryant Trustee, Emeritus (non-voting) 0.39
Director
$0 $0 $0
Judy Codding Trustee, Emeritus (non-voting) 0.39
Director
$0 $0 $0
Paul Hofmann Trustee, Emeritus, non-voting 0.39
Director
$0 $0 $0
William MacArthur Trustee, Emeritus (non-voting) 0.39
Director
$0 $0 $0
Nyagaka Ongeri Trustee 1
Director
$0 $0 $0
Robert Peirce Trustee, Emeritus (non-voting) 0.39
Director
$0 $0 $0
Linda Roberts Trustee, Emeritus (non-voting) 0.8
Director
$0 $0 $0
Vivien Stewart Trustee, Emeritus, (non-voting) 0.39
Director
$0 $0 $0
Gail Wickes Trustee, Emeritus, (non-voting) 0.39
Director
$0 $0 $0
Ciara Burnham Trustee, Chair 7.7
Officer Director
$0 $0 $0
David Byer Trustee 2.6
Director
$0 $0 $0
Bill Hughes Trustee 1.67
Director
$0 $0 $0
Philip Daro Trustee 1.15
Director
$0 $0 $0
Iqbal Mamdani Trustee 1.6
Director
$0 $0 $0
Isabelle Hau Trustee 1.29
Director
$0 $0 $0
Darshak Shah Trustee 1.86
Director
$0 $0 $0
Paul Massey Trustee 2.2
Director
$0 $0 $0
Sneha Shah Trustee 1.4
Director
$0 $0 $0
Maia Sharpley Trustee 1.8
Director
$0 $0 $0
Cynthia King Vance Trustee 3.1
Director
$0 $0 $0
Vijay Kumar Trustee Emeritus (non-voting) 0.39
Director
$0 $0 $0
Lisa Herring Trustee 0.8
Director
$0 $0 $0
J Eric Wright Trustee 1.8
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 $159,199,685 $156,382,480 $124,492,354 $2,817,205
2024 $210,774,465 $200,093,700 $123,981,044 $10,680,765
2023 $201,501,966 $192,639,833 $116,911,673 $8,862,133
2022 $186,746,637 $176,323,825 $79,029,805 $10,422,812
2021 $167,892,057 $162,508,573 $70,787,173 $5,383,484
2020 $147,745,529 $145,292,183 $65,926,072 $2,453,346
2019 $161,853,476 $158,717,546 $57,262,389 $3,135,930
2018 $155,645,130 $153,431,657 $58,966,024 $2,213,473
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