2025-05-27T08:59:24-05:00 2024-09-30 410746749 CLIFTONLARSONALLEN LLP 220 S 6TH STREET SUITE 300 MINNEAPOLIS MN 55402 990 2023-10-01 920907062 INCEPTIA INCE 4024796623 PO BOX 82507 LINCOLN NE 68501 JILL HICKS CFO 4024796623 2025-05-22 1 1 ANN NEIL P01817922 6123764500 2025-05-22 2023 2025-03-06 01:10:19Z DAVID MACOUBRIE PO BOX 82507 LINCOLN NE 68501 93591614 0 X WWW.INCEPTIA.ORG X 2022 NE TO BE THE TRUSTED ADVISOR SUPPORTING LIFE-LONG LEARNING, EDUCATIONAL ACCESS AND SKILLS DEVELOPMENT. 7 6 0 0 0 0 202962628 40008683 872257 1370587 509342 6284346 0 0 204344227 47663616 0 0 0 0 0 0 0 0 0 4735727 17602528 4735727 17602528 199608500 30061088 195862511 257336499 1823655 1916615 194038856 255419884 INCEPTIA HELPS EDUCATIONAL INSTITUTIONS STRENGTHEN RELATIONSHIPS AND BOOST ENROLLMENT USING SOLUTIONS THAT ENABLE STUDENTS TO NAVIGATE ADMISSIONS AND FINANCIAL AID, BORROW WISELY AND RESOLVE LOAN REPAYMENT CHALLENGES. 0 0 11668549 0 1370587 INCEPTIA PROVIDES FINANCIAL LITERACY EDUCATION TO SECONDARY AND HIGHER EDUCATION STUDENTS AND THEIR FAMILIES VIA AN ONLINE INTERACTIVE PLATFORM; ASSISTS STUDENTS AND PARENTS IN COMPLETING THE FAFSA VERIFICATION PROCESS; COUNSELS STUDENTS WHO HAVE NOT COMPLETED A DEGREE TO ENCOURAGE RE-ENROLLMENT AND DEGREE COMPLETION; AND ADVISES STUDENT LOAN BORROWERS ON THEIR REPAYMENT OBLIGATIONS AND PROVIDE INFORMATION ON TITLE IV REPAYMENT PLAN OPTIONS. 11668549 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 7 6 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 0 0 0 X JILL HICKS 4024796623 1300 O STREET LINCOLN NE 68508 RANDALL SCOTT HEESACKER CEO (THRU OCT 2023) 20.00 20.00 X X 0 476645 59496 DAVID A MACOUBRIE CEO (AS OF OCT 2023) 20.00 20.00 X X 0 309380 57308 JILL M HICKS CFO 20.00 20.00 X 0 301783 43014 MICHAEL JAY LUBBEN SENIOR VP BUSINESS DEVELOPMENT 40.00 0.00 X 0 233364 52200 SUSAN KAY DOWNING SENIOR VP MARKETING 40.00 0.00 X 0 233089 54299 WILLIAM LEONARD KOHL SENIOR VP PORTFOLIO MANAGEMENT 20.00 20.00 X 0 216389 48389 DEANA MARIE UNGER VP OPERATIONS 40.00 0.00 X 0 175513 27288 PAMELA SUE BECKMANN SR. DIRECTOR OF CUSTOMER SVC & STUDENT ENGAGEMENT 0.00 40.00 X 0 151014 46752 MARK E KRINGS VP CLIENT SERVICES 0.00 40.00 X 0 148180 58382 KRISTA BROOKE ODBERT AVP PRODUCT DEVELOPMENT 0.00 40.00 X 0 133435 28087 SHANNON R JONES AVP BUSINESS DEVELOPMENT 0.00 40.00 X 0 123574 40174 TIMOTHY JON ROETHIG AVP CONTACT CENTER OPS 0.00 40.00 X 0 122058 45731 RICHARD VIERK CHAIR 0.50 0.50 X X 0 40550 0 KIMBERLY RUSSEL DIRECTOR 0.50 0.50 X 0 13750 0 GUY SAUNDERS DIRECTOR 0.50 0.50 X 0 15000 0 ANTHONY GOINS DIRECTOR 0.50 0.50 X 0 10500 0 JOSEPH KNECHT DIRECTOR 0.50 0.50 X 0 14000 0 DAVID LECHNER DIRECTOR 0.50 0.50 X 0 0 0 0 2718224 561120 0 0 1 0 MERCER INVESTMENTS LLC 800 MARKET STREET SUITE 1800 ST LOUIS MO 63102 INVESTMENT MGMT SERVICES 126540 ELEVATION MARKETING 275 E RIVULON BLVD SUITE 411 GILBERT AZ 85297 CONSULTING 114591 2 40008683 40008683 STUDENT OUTREACH REVEN 900099 427438 427438 VERIFICATION REVENUE 900099 242595 242595 GRACE CALLING REVENUE 900099 197527 197527 FINANCIAL LITERACY REV 900099 197250 197250 LOAN SUMMARY REVENUE 900099 192917 192917 112860 112860 1370587 7877502 7877502 44334842 45927998 -1593156 -1593156 -1593156 47663616 1370587 0 6284346 65706 65706 70411 26940 43471 377982 377982 688512 479130 209382 96769 96769 93505 64140 29365 4863944 3968054 895890 324735 193231 131504 163895 14215 149680 145375 3527 141848 1824157 1085451 738706 1481312 1423538 57774 LEASED EMPLOYEES 7209963 4307909 2902054 RECRUITMENT & TRAINING 100949 52688 48261 DUES & SUBSCRIPTIONS 57031 29766 27265 DISPLAY DEVELOPMENT 19336 10092 9244 18946 9868 9078 17602528 11668549 5933979 0 17102 124428 41034692 78164385 550741 519301 111466399 143054528 40146097 34112652 2647480 1361205 195862511 257336499 1142810 1000220 1512 238462 679333 677933 1823655 1916615 X 194038856 255419884 194038856 255419884 195862511 257336499 30061088 31319940 0 X 0 1 X 1 0 X 202962628 40008683 242971311 872257 1370587 2242844 203834885 41379270 245214155 0 0 0 245214155 585040 7877502 8462542 585040 7877502 8462542 204419925 49256772 253676697 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 STUDENT LOAN INVESTMENTS 34112652 F 34112652 AMOUNT DUE TO NSLP 677933 677933 X PART X, LINE 2: INCEPTIA HAS BEEN RECOGNIZED AS A TAX-EXEMPT ORGANIZATION BY THE INTERNAL REVENUE SERVICE AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC) AND IS EXEMPT FROM FEDERAL INCOME TAX ON RELATED INCOME PURSUANT TO SECTION 501(A) OF THE IRC. INCEPTIA APPLIES THE PROVISIONS OF ASC SUBTOPIC 740-10, INCOME TAXES OVERALL. ASC SUBTOPIC 740-10 PROVIDES SPECIFIC GUIDANCE ON HOW TO ADDRESS UNCERTAINTY IN ACCOUNTING FOR INCOME TAX ASSETS AND LIABILITIES, PRESCRIBING RECOGNITION THRESHOLDS AND MEASUREMENT ATTRIBUTES. SEPTEMBER 30, 2024 AND 2023, THERE WERE NO UNCERTAIN TAX POSITIONS. ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN INCLUDED IN THE ACCOMPANYING FINANCIAL STATEMENTS. 1 0 0 0 0 0 0 0 0 RANDALL SCOTT HEESACKER CEO (THRU OCT 2023) 0 347735 0 73586 0 55324 0 42639 0 16857 0 536141 0 0 DAVID A MACOUBRIE CEO (AS OF OCT 2023) 0 256076 0 51644 0 1660 0 34754 0 22554 0 366688 0 0 JILL M HICKS CFO 0 248377 0 51746 0 1660 0 34327 0 8687 0 344797 0 0 MICHAEL JAY LUBBEN SENIOR VP BUSINESS DEVELOPMENT 0 219758 0 11394 0 2212 0 29124 0 23076 0 285564 0 0 SUSAN KAY DOWNING SENIOR VP MARKETING 0 190560 0 40769 0 1760 0 28202 0 26097 0 287388 0 0 WILLIAM LEONARD KOHL SENIOR VP PORTFOLIO MANAGEMENT 0 175560 0 37153 0 3676 0 31160 0 17229 0 264778 0 0 DEANA MARIE UNGER VP OPERATIONS 0 161139 0 12264 0 2110 0 26524 0 764 0 202801 0 0 PAMELA SUE BECKMANN SR. DIRECTOR OF CUSTOMER SVC & STUDE 0 65367 0 6871 0 78776 0 26874 0 19878 0 197766 0 0 MARK E KRINGS VP CLIENT SERVICES 0 134295 0 11425 0 2460 0 29057 0 29325 0 206562 0 0 KRISTA BROOKE ODBERT AVP PRODUCT DEVELOPMENT 0 124157 0 8290 0 988 0 3550 0 24537 0 161522 0 0 SHANNON R JONES AVP BUSINESS DEVELOPMENT 0 122394 0 0 0 1180 0 15637 0 24537 0 163748 0 0 TIMOTHY JON ROETHIG AVP CONTACT CENTER OPS 0 110217 0 9875 0 1966 0 25502 0 20229 0 167789 0 0 PART I, LINE 3 THE RELATED ENTITY, NEBRASKA STUDENT LOAN PROGRAM, INC., HAS OUTSIDE LEGAL COUNSEL UNDERTAKE A COMPREHENSIVE EVALUATION OF THE COMPENSATION AND BENEFIT PACKAGES FOR OFFICERS AND OTHER AFFECTED EMPLOYEES OF THE ORGANIZATION, COMPARING THE SAME RELEVANT INDUSTRY 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 THIS 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, NSLP ENGAGES AN INDEPENDENT COMPENSATION SPECIALIST TO PROVIDE DATA FOR KEY POSITIONS. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2024. PART I, LINE 4A ON OCTOBER 9, 2023, PAMELA SUE BECKMANN ENTERED INTO A VOLUNTARY SEPARATION AGREEMENT WITH NSLP. SHE RECEIVED $72,000 IN SEVERANCE PAYMENTS. FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS SHALL CONSIST OF NO LESS THAN THREE (3) MEMBERS FROM THE BOARD OF DIRECTORS AS DESIGNATED BY A MAJORITY OF THE BOARD OF DIRECTORS AT THE ANNUAL MEETING. THE EXECUTIVE COMMITTEE SHALL HAVE AND EXERCISE THE AUTHORITY OF THE BOARD OF DIRECTORS PURSUANT TO THE NEBRASKA NONPROFIT CORPORATION ACT AT ALL TIMES WHEN A MEETING OF THE BOARD OF DIRECTORS IS NOT IN SESSION, PROVIDED, HOWEVER, THAT THE EXECUTIVE COMMITTEE SHALL NOT HAVE THE AUTHORITY TO AUTHORIZE ANY DISTRIBUTIONS IN EXCESS OF $1,000.00, APPROVE OR RECOMMEND THE MERGER, OR THE SALE, PLEDGE OR TRANSFER OF ALL OF THE CORPORATION'S ASSETS, ELECT, APPOINT OR REMOVE DIRECTORS ON ANY OF ITS COMMITTEES, OR ADOPT, AMEND OR REPEAL THE ARTICLES OR BYLAWS OF THE CORPORATION. THE EXECUTIVE COMMITTEE SHALL MEET AT SUCH TIMES AS THE BOARD OF DIRECTORS SHALL DETERMINE. THE EXECUTIVE COMMITTEE SHALL MAINTAIN A WRITTEN RECORD OF ITS PROCEEDINGS AND SHALL REPORT ITS PROCEEDINGS TO THE BOARD OF DIRECTORS AT THE NEXT MEETING OF THE FULL BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 6 NEBRASKA STUDENT LOAN PROGRAM, INC. (NSLP), A NOT-FOR-PROFIT CORPORATION, SERVES AS THE SOLE MEMBER OF INCEPTIA AND ELECTS INCEPTIA'S BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7A NEBRASKA STUDENT LOAN PROGRAM, INC. (NSLP), A NOT-FOR-PROFIT CORPORATION, SERVES AS THE SOLE MEMBER OF INCEPTIA AND ELECTS INCEPTIA'S BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS PREPARED BY AN EXTERNAL AUDITOR, REVIEWED BY STAFF, AND MAILED TO ALL BOARD MEMBERS. THE 990 IS PRESENTED TO THE AUDIT COMMITTEE AND THE BOARD BEFORE IT IS FILED. FORM 990, PART VI, SECTION B, LINE 12C INCEPTIA MAINTAINS A CONFLICT OF INTEREST POLICY FOR ALL DIRECTORS AND OFFICERS. A CONFLICT OF INTEREST EXISTS IF A MEMBER HAS FINANCIAL OR OWNERSHIP INTEREST IN THE ORGANIZATION. THE POLICY EXISTS TO IDENTIFY POTENTIAL INSTANCES IN WHICH AN INDIVIDUAL COULD PERSONALLY BENEFIT TO THE DETRIMENT OF THE ORGANIZATION. THE POLICY REQUIRES ALL MEMBERS TO DISCLOSE AN ANNUAL DISCLOSURE FORM. IF A POTENTIAL CONFLICT OF INTEREST IS DETERMINED TO EXIST, SUCH INTERESTED PERSON MUST PREPARE A WRITTEN STATEMENT DESCRIBING THE NATURE OF THE TRANSACTION AND CONFLICT OF INTEREST. DISCUSSIONS WITH INDEPENDENT, OUTSIDE LEGAL COUNSEL, AS WELL AS THE CHAIRMAN AND PRESIDENT OF INCEPTIA DETERMINE WHETHER A CONFLICT OF INTEREST EXISTS. IN THE EVENT OF A POSITIVE FINDING BY INDEPENDENT LEGAL COUNSEL AND AFTER REVIEW BY THE BOARD, LEGAL COUNSEL WILL ADVISE THE INTERESTED PERSON HOW TO REMOVE THEMSELVES FROM INFLUENCE OVER THE DECISIONS ON THE MATTER, AS WELL AS ADVISE ON ANY OTHER RESTRICTIONS THAT WILL BE IMPOSED UPON THE INTERESTED INDIVIDUAL. RESULTS OF THE PROCEEDINGS ARE DOCUMENTED IN THE ORGANIZATION'S MEETING MINUTES. FORM 990, PART VI, SECTION C, LINE 19 PUBLIC AVAILABILITY OF DOCUMENTS, POLICIES, AND FINANCIAL STATEMENTS: INCEPTIA DOES NOT MAKE THEIR GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, OR FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. FOUNDATION FOR EDUCATIONAL SERVICES INC PO BOX 82552 LINCOLN NE 68501 470703499 SUPPORTING ORG NE 501(C)(3) LINE 12B, II N/A 0 NEBRASKA STUDENT LOAN PROGRAM INC PO BOX 82507 LINCOLN NE 68501 363514573 SUPPORTING ORG NE 501(C)(3) LINE 10 FES 0 FOUNDATION FOR EDUCATIONAL FUNDING II PO BOX 82552 LINCOLN NE 68501 311777710 COLLEGE ACCESS NE 501(C)(3) LINE 12B, II EDUCATIONQUEST FOUNDATION 0 EDUCATIONQUEST FOUNDATION 1300 O STREET LINCOLN NE 68508 470606382 EDU SUPPORT NE 501(C)(3) LINE 10 FES 0 0 0 1 0 0 0 0 0 0 0 1 0 0 1 1 1 0 0 0 NEBRASKA STUDENT LOAN PROGRAM INC C 40008683 FMV