2023-05-24T16:21:26-05:00 2022-09-30 470677245 HBE LLP 7140 STEPHANIE LANE PO BOX 23110 LINCOLN NE 685423110 990 2021-10-01 311777710 FOUNDATION FOR EDUCATIONAL FUNDING II FOUN 4024796618 PO BOX 82552 LINCOLN NE 685012522 ELIZABETH S KOOP PRESIDENT & CEO 4024796618 2023-05-14 1 ELIZABETH KOOP 999009999 KRYSTAL L SIEBRANDT CPA CFE CGMA P00543870 4024234343 2023-05-14 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z EDUCATIONQUEST FOUNDATION ELIZABETH S KOOP PO BOX 82552 LINCOLN NE 685012522 30508096 0 X WWW.EDUCATIONQUEST.ORG X 2001 NE IMPROVE ACCESS TO HIGHER EDUCATION IN NEBRASKA: THIS ORGANIZATION'S EXCLUSIVE PURPOSE IS TO OPERATE AS A SUPPORTING ORGANIZATION BY CONDUCTING OR SUPPORTING ACTIVITIES FOR THE BENEFIT OR TO PERFORM THE FUNCTION OF, OR TO CARRY OUT THE PURPOSES OF, EDUCATIONQUEST FOUNDATION, A NEBRASAKA NONPROFIT ORGANIZATION UNDER SECTION 501(C)(3), 509(A)(2) OF THE INTERNAL REVENUE CODE. 9 8 5 43 342941 300811 50000 50000 0 0 11125870 10378200 42020 17331 11217890 10445531 696534 912561 0 0 3344016 3583907 0 0 0 2964389 2911944 7004939 7408412 4212951 3037119 200621219 170700093 390789 1089510 200230430 169610583 X IMPROVE ACCESS TO HIGHER EDUCATION IN NEBRASKA 0 0 1524140 568633 SCHOLARSHIP AWARDS TO STUDENTS ATTENDING QUALIFIED POST-SECONDARY INSTITUTIONS OF HIGHER EDUCATION IN THE STATE OF NEBRASKA. (AWARDED BY FORMULA ON AN OBJECTIVE NONDISCRIMINATORY BASIS.)FREE OUTREACH AND TRAINING FOR COMMUNITY AGENCIES IN THE STATE OF NEBRASKA REGARDING CAREER OPTIONS, SCHOLARSHIPS, FAFSA COMPLETION, FINANCIAL AID OPTIONS, AND OTHER COLLEGE PLANNING MATERIALS FOR THEIR CLIENTS. 799295 337928 GRANT AWARDS TO HIGH SCHOOLS, EITHER PUBLIC OR PRIVATE TAX-EXEMPT ORGANIZATIONS, TO ENHANCE EFFORTS TO INCREASE THEIR COLLEGE-GOING RATES. (AWARDS DETERMINED USING OBJECTIVE NONDISCRIMINATORY CRITERIA.)FREE ANNUAL WORKSHOPS ON COLLEGE ACCESS FOR NEBRASKA HIGH SCHOOLS AND A BIENNIAL SYMPOSIUM ON STATE-WIDE COLLEGE ACCESS ISSUES. FREE PUBLICATIONS: COLLEGE ACCESS NEBRASKA - BEST PRACTICE GUIDE FOR COLLEGE ACCESS IN NEBRASKA HIGH SCHOOLS. GRANTS TO MIDDLE SCHOOLS IN NEBRASKA FOR VISITS TO COLLEGE CAMPUSES. (AWARDED BY FORMULA ON AN OBJECTIVE NONDISCRIMINATORY BASIS.) 3530230 6000 17331 FREE COLLEGE PLANNING SERVICES INCLUDING COLLEGE RESEARCH, EXPLORATION OF CAREER OPTIONS, SCHOLARSHIP SEARCH, FAFSA COMPLETION AND FILING, AND FINANCIAL AID OPTIONS. (AVAILABLE TO ALL STUDENTS AND FAMILIES IN NEBRASKA REGARDLESS OF COLLEGE DESTINATION.) THREE OFFICES IN NEBRASKA OPEN TO THE PUBLIC: KEARNEY, LINCOLN, AND OMAHA. SPONSOR COLLEGE FAIRS AND CONDUCT FREE COLLEGE PLANNING PRESENTATIONS AROUND NEBRASKA. DEVELOPMENT AND MAINTENANCE OF A WEBSITE THAT PROVIDES INFORMATION FOR MIDDLE SCHOOL AND HIGH SCHOOL STUDENTS AND PARENTS, ADULT LEARNERS, STUDENTS WITH DISABILITIES, NEBRASKA SCHOOL AND AGENCY PROFESSIONALS, PLUS COLLEGE PROFESSIONALS. TOOLS TO ASSIST WITH COLLEGE SELECTION, COLLEGE COSTS ESTIMATOR, FAFSA TUTORIAL, AND COLLEGE PROFILES. FREE ON-LINE ACCESS AVAILABLE IN ENGLISH AND SPANISH. FREE COLLEGE ACCESS TRAINING FOR NEBRASKA MIDDLE SCHOOLS AND HIGH SCHOOLS, AND NEBRASKA COMMUNITY AGENCIES. FREE PUBLICATIONS: EDUCATIONQUEST PROVIDES A VARIETY OF FREE PRINT PUBLICATIONS TO GRADE 6-12 STUDENTS AND FAMILIES AND ADULT LEARNERS.STATEWIDE FREE PROGRAMS AND SERVICES FOR 6TH-8TH GRADE STUDENTS UTILIZING LOOK2COLLEGE AND KNOWHOW2GO PUBLICATIONS AND INFORMATION.INCREASE AWARENESS OF COLLEGE ACCESS THROUGH BILLBOARDS, RADIO AND TV SPOTS, EMAILS, AND ADS. 5853665 1 1 0 0 0 0 0 0 0 0 1 1 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 12 0 1 5 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 9 8 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 X MICHAEL J TIMMINS 4024796618 PO BOX 82552 LINCOLN NE 685012552 CRAIG AMES CHAIRMAN 1.00 X X 18250 0 0 MIGUEL CARRANZA DIRECTOR 1.00 X 9250 0 0 MICHAEL GREEN DIRECTOR 1.00 X 11750 0 0 WENDY BOYER DIRECTOR 1.00 X 11000 0 0 DEBBIE COOPER DIRECTOR 1.00 X 11000 0 0 KELLY LEEPER DIRECTOR 1.00 X 11750 0 0 THOMAS SMITH DIRECTOR 1.00 X 9500 10000 0 ELIZABETH S KOOP PRESIDENT/CEO 40.00 X X 344532 0 58295 JENNIFER STRAND DIRECTOR 1.00 X 11000 0 0 REGAN ANSON DIRECTOR 1.00 X 32026 0 4040 MICHAEL J TIMMINS CFO/SENIOR VICE PRESIDENT 40.00 X 153336 0 44218 DAPHANE HALL SENIOR VICE PRESIDENT 40.00 X 167207 0 15574 ERIC DRUMHELLER VICE PRESIDENT 40.00 X 112538 0 32571 903139 10000 154698 4 0 1 0 MERCER 701 MARKET STREET STE 1100 ST LOUIS MO 63101 INVESTMENT CONSULTING 155632 1 50000 50000 5183352 342941 4840411 25257413 20062565 5194848 5194848 5194848 COLLEGE FAIR REGISTRATION REVENUE 611710 13310 13310 OTHER REVENUE 900099 4021 4021 17331 10445531 17331 342941 10035259 338928 338928 573633 573633 989643 679828 309815 1604972 1495027 109945 347354 314764 32590 475132 414929 60203 166806 145850 20956 30510 30510 19793 19793 734659 734659 3500 3500 262785 262785 656991 559157 97834 516782 481950 34832 555262 474664 80598 51410 50372 1038 60569 57169 3400 4609 4609 UBI TAX 15074 15074 7408412 5853665 1554747 0 298501 9917 4093032 6468966 83602 52142 352551 315277 690431 667150 6241 23281 99811916 73164882 92135515 88462965 3839861 2202663 200621219 170700093 390789 521486 0 568024 390789 1089510 X 200230430 169610583 200230430 169610583 200621219 170700093 X 3037119 -29927372 -3729594 X X 0 1 X 1 0 X X 1 EDUCATIONQUEST FOUNDATION 470606382 10 1 6673753 0 1 6673753 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 58650 57018 1632 31292 31292 0 600489 578840 21649 23281 PRIVATE EQUITY 78469544 F ALTERNATIVE INVESTMENTS 9993421 F 88462965 LEASE LIABILITY 568024 568024 X -20526255 -29927372 -309755 -30237127 9710872 734659 734659 10445531 8249306 1575553 1575553 6673753 734659 734659 7408412 PART X, LINE 2: THE FOUNDATION FOR EDUCATIONAL FUNDING II IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, EXCEPT ON NET INCOME DERIVED FROM UNRELATED BUSINESS ACTIVITIES. FOR THE YEAR ENDED SEPTEMBER 30, 2022, THE FOUNDATION FOR EDUCATIONAL FUNDING II HAD NO TAX LIABILITY ON UNRELATED BUSINESS ACTIVITY. THE ORGANIZATION BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN, AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: EDUCATIONQUEST TIN 47-0606382 REVENUES -309,755. PART XII, LINE 2D - OTHER ADJUSTMENTS: EDUCATIONQUEST TIN 47-0606382 EXPENSES 1,575,553. 1 LEXINGTION HIGH SCHOOL 300 SOUTH WASHINGTON STREET LEXINGTION NE 68850 476002382 NEBRASKA 10000 0 COLLEGE ACCESS AURORA HIGH SCHOOL 300 L STREET AURORA NE 68818 476014245 NEBRASKA 7900 0 COLLEGE ACCESS COLUMBUS HIGH SCHOOL 2410 16TH STREET COLUMBUS NE 68601 476004811 NEBRASKA 10000 0 COLLEGE ACCESS LINCOLN HIGH SCHOOL 2229 J STREET LINCOLN NE 68510 476003955 NEBRASKA 10000 0 COLLEGE ACCESS LINCOLN SOUTHEAST HIGH SCHOOL 2930 S 37TH STREET LINCOLN NE 68506 476003955 NEBRASKA 10000 0 COLLEGE ACCESS NORFOLK PUBLIC SCHOOLS 801 RIVERSIDE BLVD NORFOLK NE 68701 476004162 NEBRASKA 14000 0 COLLEGE ACCESS OMAHA BENSON HIGH SCHOOL 5120 MAPLE STREET OMAHA NE 68104 476002629 NEBRASKA 19000 0 COLLEGE ACCESS OMAHA SOUTH HIGH SCHOOL 4519 S 24TH STREET OMAHA NE 68107 476002629 NEBRASKA 10000 0 COLLEGE ACCESS OMAHA BURKE HIGH SCHOOL 12200 BURKE ST OMAHA NE 68154 476002629 NEBRASKA 20840 0 COLLEGE ACCESS WAVERLY HIGH SCHOOL 13401 AMBERLY RD WAVERLY NE 68462 476004041 NEBRASKA 10224 0 COLLEGE ACCESS YORK HIGH SCHOOL 1715 N DELEWARE AVE YORK NE 68467 476006011 NEBRASKA 10118 0 COLLEGE ACCESS OMAHA CENTRAL HIGH SCHOOL 124 N 20TH ST OMAHA NE 68102 476002629 NEBRASKA 15000 0 COLLEGE ACCESS NORTH PLATTE HIGH SCHOOL 1220 W 2ND ST NORTH PLATTE NE 69101 NEBRASKA 10000 0 COLLEGE ACCESS BAYARD HIGH SCHOOL 726 4TH AVE BAYARD NE 69334 NEBRASKA 7249 0 COLLEGE ACCESS MADISON PUBLIC SCHOOLS 700 KENT ST MADISON NE 68748 NEBRASKA 7227 0 COLLEGE ACCESS AUBURN HIGH SCHOOLS 1713 J ST AUBURN NE 68305 NEBRASKA 7000 0 COLLEGE ACCESS SCHUYLER CENTRAL HIGH SCHOOL 4010 ADAM ST SCHUYLER NE 68661 470535355 NEBRASKA 5750 0 COLLEGE ACCESS O'NEILL HIGH SCHOOL 540 E HYNES AVE ONEILL NE 68763 NEBRASKA 5600 0 COLLEGE ACCESS OAKLAND-CRAIG PUBLIC SCHOOLS 309 N DAVIS AVE OAKLAND NE 68045 476001494 NEBRASKA 5336 0 COLLEGE ACCESS FALLS CITY PUBLIC SCHOOLS 1415 MORTON ST FALLS CITY NE 68355 476005008 NEBRASKA 5204 0 COLLEGE ACCESS 20 SCHOLARSHIPS TO STUDENTS ATTENDING COLLEGES IN NEBRASKA 116 565633 PART I, LINE 2: GRANTS RECIPIENTS RECEIVE TWO SITE VISITS ANNUALLY, AT WHICH TIME THE OUTCOMES FROM THE REQUIREMENTS OF THE GRANTS ARE MONITORED. DURING THE SITE VISIT, ANTICIPATED AND COMPLETED BUDGETS ARE DISCUSSED TO ANSWER QUESTIONS REGARDING REPORTING REQUIREMENTS. ANNUALLY, GRANTEES SUPPLY BOTH BUDGET AND ACTIVITY REPORTS DETAILING HOW BUDGET EXPENSES LINK TO THE REQUIREMENTS OF THE GRANT. X X X X X 0 1 0 0 0 0 0 0 0 ELIZABETH S KOOP PRESIDENT/CEO 289812 0 53610 0 1110 0 33193 0 25102 0 402827 0 0 0 MICHAEL J TIMMINS CFO/SENIOR VICE PRESIDENT 145566 0 7410 0 360 0 30899 0 13319 0 197554 0 0 0 DAPHANE HALL SENIOR VICE PRESIDENT 142557 0 24290 0 360 0 14065 0 1509 0 182781 0 0 0 PART 1, LINE 4B TAX-EXEMPT ELIGIBLE 457B PLAN (PLAN SECTION 1.35 (B)) ELIZABETH KOOP. FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION (FOUNDATION FOR EDUCATIONAL FUNDING II, INC.) IS A 509(A)(3) SUPPORTING ORGANIZATION OF EDUCATIONQUEST FOUNDATION, INC., A NEBRASKA NONPROFIT CORPORATION AND 501(C)(3) ENTERPRISE. EDUCATIONQUEST FOUNDATION, INC. IS THE SOLE MEMBER OF THE FOUNDATION FOR EDUCATIONAL FUNDING II, INC. FORM 990, PART VI, SECTION A, LINE 7A EDUCATIONQUEST FOUNDATION, INC. SELECTS THE BOARD MEMBERS OF THE FOUNDATION FOR EDUCATIONAL FUNDING II, INC. FORM 990, PART VI, SECTION A, LINE 7B IN ACCORDANCE WITH THE GOVERNANCE DOCUMENTS AND AS A MATTER OF PRACTICE, EDUCATIONQUEST FOUNDATION, INC. HAS ELECTED THE SAME BOARD MEMBERS AS THOSE WHO SERVE ON THE BOARD OF EDUCATIONQUEST, INC. SO ALL DECISIONS OF THE FOUNDATION FOR EDUCATIONAL FUNDING II, INC. ARE MADE BY THE SAME BOARD MEMBERS WHO SERVE ON THE BOARD OF EDUCATIONQUEST FOUNDATION, INC. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY ADMINISTRATIVE STAFF, LEGAL COUNSEL, AND THE AUDIT COMMITTEE BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C THE FOUNDATION FOR EDUCATIONAL SERVICES, II, INC. MAINTAINS A COMPREHENSIVE CONFLICT OF INTEREST POLICY FOR DIRECTORS AND OFFICERS. THE POLICY EXISTS TO IDENTIFY POTENTIAL INSTANCES IN WHICH AN INDIVIDUAL COULD OBTAIN A DIRECT OR INDIRECT PERSONAL GAIN OR ADVANTAGE TO THE DETRIMENT OF THE ORGANIZATION, OR WHERE AN INDIVIDUAL'S CONDUCT COULD HAVE AN ADVERSE OR POTENTIALLY ADVERSE EFFECT ON THE INTERESTS OF THE ORGANIZATION. THE POLICY CONTAINS AN AFFIRMATIVE DUTY TO DISCLOSE, AS WELL AS A SPECIFIC PROCESS FOR DISCLOSURES OF POTENTIAL CONFLICTS OF INTEREST, A PROTOCOL IN WHICH INDEPENDENT, OUTSIDE LEGAL COUNSEL IS USED TO EVALUATE WHETHER A CONFLICT EXISTS, PROCEDURES FOR ADDRESSING ACTUAL CONFLICTS OF INTEREST, AND CONSEQUENCES FOR VIOLATIONS OF THE CONFLICTS POLICY. THE POLICY REQUIRES ALL DIRECTORS AND OFFICERS TO COMPLETE AND SUBMIT AN ANNUAL CONFLICTS DISCLOSURE FORM TO OUTSIDE LEGAL COUNSEL. IN ADDITION, THE CONFLICT OF INTEREST POLICY IS INCLUDED IN THE EMPLOYEE HANDBOOK WHICH ALL EMPLOYEES MUST ACKNOWLEDGE AND AGREE TO ABIDE BY. FORM 990, PART VI, SECTION B, LINE 15 OUTSIDE LEGAL COUNSEL UNDERTAKES A COMPREHENSIVE EVALUATION OF THE COMPENSATION AND BENEFIT PACKAGES FOR OFFICERS AND OTHER AFFECTED EMPLOYEES OF THE ORGANIZATION, COMPARING THE SAME TO RELEVANT HISTORY AND OTHER MARKET COMPARABLES. COUNSEL THEN PROVIDES TO THE BOARD OF DIRECTORS A SUMMARY OF THE COMPARABILITY DATA, AN ANALYSIS OF THE DATA RELATIVE TO THE ORGANIZATIONAL EMPLOYEES, AND A REASONED OPINION CONCERNING HIS CONCLUSION. THE BOARD OF DIRECTORS THEN CONFIRMS AND RATIFIES ALL COMPENSATION/BENEFITS PACKAGES, WITH THE DECISION PROCESS PROPERLY DOCUMENTED AS REQUIRED BY THE REGULATIONS. ON A ROUTINE BASIS WE ENGAGE AN INDEPENDENT COMPENSATION SPECIALIST TO PROVIDE COMPARABLE DATA FOR KEY POSITIONS. FORM 990, PART VI, SECTION C, LINE 19 THE FOUNDATION FOR EDUCATIONAL FUNDING II DOES NOT MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, OR FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. FORM 990, PART XI, LINE 9: FUND TRANSFERS -3,729,594. PART XII, LINE 2C THE AUDIT COMMITTEE REVIEWS THE AUDIT PROCESS AND THE FINANCIAL STATEMENTS ANNUALLY. THIS PROCESS HAS NOT CHANGED FROM PRIOR YEARS. FOUNDATION FOR EDCUATIONAL SERVICES INC PO BOX 82552 LINCOLN NE 68501 470703499 SUPPORTING ORGANIZATION NE 501(C)(3) LINE 12B, II 0 EDUCATIONQUEST FOUNDATION INC PO BOX 82552 LINCOLN NE 68501 470606382 COLLEGE ACCESS NE 501(C)(3) LINE 10 0 0 0 1 0 0 0 0 0 0 0 1 1 0 1 1 0 1 0 0 EDUCATIONQUEST FOUNDATION INC C 3729594 COST FOUNDATION FOR EDUCATIONAL SERVICES INC K 361042 COST EDCUATIONQUEST FOUNDATION INC L 6673753 COST FOUNDATION FOR EDUCATIONAL SERVICES INC N 982900 COST FOUNDATION FOR EDUCATIONAL SERVICES INC O 2495301 COST EDUCATIONQUEST FOUNDATION INC Q 3101 COST