Lumina Foundation is an independent private foundation based in Indianapolis focused on increasing access to education and credentials beyond high school to strengthen workforce participation and economic opportunity in the United States.
To equip individuals for informed civic participation and achievement in the global economy.
Lumina Foundation was established in August 2000 following the sale of most operating assets of USA Group, a nonprofit guarantor and administrator of college loans. Proceeds from the sale created a charitable endowment. The USA Group foundation converted into Lumina Foundation, becoming an independent private foundation. It was formed with an initial endowment of $770 million and has since focused exclusively on expanding access to learning beyond high school in the United States. The foundation states it has no ties to the student loan industry and has never issued loans.
Lumina primarily engages in proactive grantmaking and does not accept unsolicited requests or letters of inquiry. Funding is generally directed toward system-level initiatives designed to achieve large-scale or nationwide impact. The foundation periodically issues open Requests for Proposals on specific topics. It supports policy outreach, research and evaluation, partnerships, strategic communication, impact investing, and data and measurement efforts aligned with its goal of increasing attainment beyond high school. It also offers investment capital through Lumina Impact Ventures and provides civic sponsorships and community grants in Central Indiana.
Lumina set a national goal in 2008 for 60 percent of working-age adults to earn credentials beyond high school by 2025. Educational attainment among adults ages 25–64 increased from 38 percent to 55 percent during that period. The foundation has established a 2040 goal of 75 percent of adults in the U.S. labor force holding college degrees or other credentials of value. Its work emphasizes expanding access, improving completion rates, and aligning credentials with workforce needs.
Lumina works with governmental, nonprofit, and private-sector organizations. It collaborates with education and business leaders, civil rights organizations, policymakers, and institutions including community colleges, public universities, and minority-serving institutions. The foundation engages in strategic communications, convenings, partnerships, and coalition-building to advance system-level change.
Lumina Foundation for Education, Inc. is a private, non-stock, not-for-profit corporation organized under Delaware law. It is exempt from federal income tax under Section 501(a) and classified as a private foundation subject to federal excise tax on net investment income. As of December 31, 2024, net assets without donor restrictions totaled $1,525,555,000. The foundation met its required 5 percent minimum distribution requirement for 2024. It maintains lines of credit totaling $75 million effective December 31, 2024. Investments are diversified across public equities, bonds, alternative investments, private assets, mission-related investments, and program-related investments.