Education Equity Fund NFP

What Education Equity Fund NFP does

Education Equity Fund NFP (EEF) is a Chicago-based 501(c)(3) nonprofit strategic social investor founded in May 2020 by Andrew Davis. The organization addresses the shortage of diverse, well-trained K-12 educators by providing financing to high-potential candidates who lack the personal resources to pursue advanced education degrees. Its core product is the Lincoln Loan Program—a ten-year, zero-percent interest loan that funds tuition, living expenses, and associated costs from start to finish, with income-contingent repayment requiring no monthly payments when a graduate earns under $75,000 per year and no accruals or capitalizations during such periods. EEF also deploys Income Sharing Agreements for Chicago Teacher Residency participants, under which graduates repay a fixed percentage of salary for their first five years of employment, transferring financial risk from the student to the fund. The organization supplements lending with an evergreen fund structure in which successful graduates effectively help fund future cohorts.

EEF's business model relies on charitable donations—solicited through preset tiers ($250 / $500 / $2,000) on its website and unrestricted 'Other Amount' gifts—as the primary capital source, supplemented by recycled loan repayments and ISA income. Distribution is exclusively B2B-via-institution: EEF funds students admitted to the University of Illinois at Chicago's EdD Program in Urban Education Leadership (a program identified as a 'model' by the Illinois Board of Higher Education with 90%+ retention, graduation, and placement rates) and the Chicago Teacher Residency Program / Academy for Urban School Leadership. Candidates are identified through partner program nominations rather than consumer marketing. Notable funded alumni include Dr. Janice Jackson (former CEO of Chicago Public Schools), Dr. Romian Crockett, Dr. Steve Fisher, and Dr. Efrain Martinez.

Governance is provided by a volunteer Board of Directors chaired since 2024 by Christian Feaman (CFO/COO of Northwestern Settlement), with founding Chair Anne Ladky now serving as Chair Emerita. Other board members bring senior experience from Huron Consulting, TransMarket Group, Meristem Advisors, LBBA Architects, and The Simple Good. EEF operates from a single Chicago headquarters with 11–50 employees, files annual IRS Form 990s (FY2021–FY2024 publicly linked), and is registered as a tax-exempt organization with all contributions federally and state-tax deductible.

Name

Education Equity Fund NFP

Legal name

Education Equity Fund NFP

Website

https://edequityfund.org

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

11–50 employees

Short description

Education Equity Fund NFP is a Chicago-based 501(c)(3) nonprofit founded in 2020 that provides zero-interest loans and income-sharing agreements to underrepresented K-12 educators pursuing advanced degrees at partner institutions including UIC and Chicago Teacher Residency.

Ownership category

akta.pro rank

Product category

Educational Financing

NAICS

Educational Support Services (611710)

SIC

Services-Educational Services (8200)

akta.pro primary industry

Education Grantmaking Foundations (BPAGAKAK)

Keywords

• Educational financing
• Teacher scholarships
• Income share agreements
• Nonprofit social investing
• K-12 educator funding

Headquarters

HQ city

Chicago

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Personnel, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Charitable Donations: Tax-deductible contributions from donors to fund diverse classes of high-potential EdD candidates. EEF is a registered 501(c)(3) tax-exempt organization.
2. Income Sharing Agreements (ISA): Funding provided to CTR residents in return for a fixed percentage of their salaries for their first five years of employment. Payment is contingent on the student's success, transferring financial risk from the student to the Fund.
3. Loan Repayments: Graduates repay only the principal borrowed over ten years with no interest charged. No payments required when earning under $75,000/year.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

Education Equity Fund NFP is a Chicago-based 501(c)(3) nonprofit that provides zero-interest, income-contingent loans and income sharing agreements to high-potential K-12 educator candidates pursuing graduate degrees (primarily EdDs in Urban Education Leadership at UIC) and Master's programs through partnerships with Chicago Teacher Residency. Repayment is structured around graduate earnings, with no payments required when students earn less than $75,000/year.

Product overview

Education Equity Fund NFP is a Chicago-based strategic social investor founded in 2020 that provides educational financing programs to support diverse, high-potential candidates pursuing K-12 educator training. The organization operates a unified suite of financing products centered on the Lincoln Loan Program, which offers zero-interest loans with income-based repayment for EdD candidates at the University of Illinois at Chicago's Urban Education Leadership program. Additional products include Income Sharing Agreements for Chicago Teacher Residency participants and an Evergreen Lending Fund model where successful graduates fund future cohorts. The organization is a registered 501(c)(3) tax-exempt not-for-profit, not a technology platform.

Differentiator

Problem solved

Functional benefit

Brands

• Lincoln Loan Program: A ten-year zero-percent interest loan program for EdD candidates with income-based repayment terms - no monthly payments when earning less than $75,000 per year.

Products and services

• Lincoln Loan Program A ten-year, zero-interest loan program providing full start-to-finish funding for EdD candidates at UIC's Urban Education Leadership program, with income-contingent repayment - no monthly payments required when students earn less than $75,000 per year and no accruals or capitalizations during non-payment periods.
• Income Sharing Agreement (Chicago Teacher Residency) Funding provided to CTR residents in return for a fixed percentage of their salaries for the first five years of employment, transferring financial risk from the student to the fund through contingent repayment tied to post-graduation income.
• Evergreen Lending Fund A social-investment fund model where successful graduates who enter the K-12 education workforce help fund future cohorts of educators, creating a sustainable cycle of investment in teacher and principal training.

Quantifiable outcome

• 90%+ retention, graduation, and placement rate for UIC EdD program graduates
• +4 more outcomes

Named customers6 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Five partnerships are on record, tiered minor and core.

• The Wallace FoundationminorOthers · 1 January 2026Research partner whose report 'How Principals Affect Students and Schools' concluded that 'Principals really matter' and that it is difficult to envision an investment with higher potential return than improving principal leadership. EEF's strategy is informed by this research finding.
• University of Chicago's Consortium on School ResearchminorOthers · 1 January 2026Research partner that released a report examining post-COVID school attendance, finding that attendance is essential for student learning and that school leaders can affect student attendance. EEF uses this research to inform its investment thesis in school leadership.
• The Chicago Public Education FundminorOthers · 1 January 2026Research partner whose findings support EEF's conclusion that the single highest rate of return on investment in education is money spent on developing great School Leaders.
• University of Illinois at Chicago (UIC) EdD Program in Urban Education LeadershipcoreStrategic or Co-development Partner · 1 January 2020UIC's nationally recognized EdD program identified as a 'model' by the Illinois Board of Higher Education. EEF provides funding for students of great potential but limited financial resources to earn EdDs in Urban Education Leadership. UIC provides the academic support that enables students to persist, graduate, and find employment. The program has 90%+ retention, graduation, and placement rates.
• Chicago Teacher Residency Program / Academy for Urban School Leadership (AUSL)coreStrategic or Co-development Partner · 1 January 2020AUSL's CTR combines Master's degree program at DePaul University with full year of clinical classroom training in one of AUSL's Chicago Public Schools. EEF provides Income Sharing Agreement funding to high-potential, lower-resourced students in the program. Program prepares residents for teaching positions in Chicago Public Schools.

Scale indicators7 records

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• Lumina Foundation: Large national foundation focused on postsecondary credential attainment and equitable access; comparable as a research-driven education grantmaker, though operating at a far larger scale and broader scope than EEF.
• NewSchools Venture Fund: A larger education-focused venture philanthropy nonprofit funding innovators and leaders in K-12 education; comparable as an institutional education funder with a portfolio approach, but broader in scope and national in reach versus EEF's narrow Chicago focus.
• Wallace Foundation: National foundation whose research underpins EEF's investment thesis on principal leadership; comparable as a research-driven education grantmaker and the source of much of the evidence base EEF cites.
• Woodrow Wilson National Fellowship Foundation: National nonprofit operating fellowship programs that fund aspiring teachers and school leaders, including the WW Teaching Fellowship; comparable as a multi-state education fellowship funder with a similar thesis on developing high-quality educators.
• The Chicago Community Trust: Regional community foundation serving the Chicago region across multiple causes including education; Anne Ladky (EEF Board Chair Emerita) served on its Executive Committee, illustrating organizational overlap and shared donor base.

Emerging players

• Vemo Education: Provider of ISA platforms and analytics used by schools to administer income-share-agreement funding; overlaps with EEF's CTR ISA product in mechanism and could be considered a tooling peer in the ISA space.

Direct peers

• Chicago Public Education Fund: Cited as an EEF research partner and a Chicago-based education funder focused on developing school leaders; directly comparable as a place-based education investment nonprofit operating in the same metro and mission space.
• Academy for Urban School Leadership (AUSL): EEF's partner running the Chicago Teacher Residency program; directly comparable as a Chicago-based nonprofit developing diverse K-12 educators and school leaders, though focused on teacher-residency delivery while EEF provides financing.
• Lumni: Social-impact funder offering Income Share Agreements to fund higher-education access; comparable to EEF's CTR ISA program in product design (income-contingent repayment) and mission (educational equity), though broader in geography.
• Hope Chicago: Chicago-based nonprofit founded/led by Dr. Janice Jackson (an EEF alumnus) that funds postsecondary scholarships and tuition support for Chicago students; closely comparable as a place-based education-financing nonprofit addressing equity in Chicago.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/education-equity-fund

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds

Investors

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M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Education Equity Fund NFP