2021-11-09T14:16:55-06:00 2020-12-31 731413977 HOGANTAYLOR LLP 11300 CANTRELL ROAD SUITE 301 LITTLE ROCK AR 72212 990 2020-01-01 273339369 REMINGTON COLLEGE REMI 4075625500 7131 BUSINESS PARK LANE NO 300 LAKE MARY FL 32746 PAMELA BELL PRESIDENT 4075625500 2021-11-09 1 PAMELA BELL XXX-XX-XXXX MICHELLE MANN P01064483 5012275800 2021-11-08 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z PAMELA BELL 7131 BUSINESS PARK LANE NO 300 LAKE MARY FL 32746 66335417 0 X WWW.REMINGTONCOLLEGE.EDU X 2008 AR POST-SECONDARY EDUCATION 4 4 636 5 0 0 378344 1239587 72425906 65048513 12457 5226 0 0 72816707 66293326 1691802 2631340 0 0 30029380 23428677 0 0 0 40977198 37063766 72698380 63123783 118327 3169543 33494181 37544103 97981187 100677408 -64487006 -63133305 X THE MISSION OF REMINGTON COLLEGE IS TO CONTRIBUTE TO THE PUBLIC GOOD BY PROVIDING RELEVANT, CAREER-FOCUSED EDUCATION DESIGNED AND INTENDED TO HELP STUDENTS ACQUIRE THE KNOWLEDGE AND DEVELOP THE SKILLS AND ABILITIES NECESSARY FOR SUCCESSFUL ENTRY (CONTINUED ON SCH O) 0 0 58143932 2631340 65048513 REMINGTON COLLEGE CONTRIBUTED TO THE PUBLIC GOOD BY PROVIDING RELEVANT, CAREER-FOCUSED EDUCATION THAT HELPED STUDENTS ACQUIRE THE KNOWLEDGE AND DEVELOP THE SKILLS AND ABILITIES NECESSARY TO OBTAIN POSITIONS IN THEIR CHOSEN CAREER FIELDS. REMINGTON COLLEGE PROVIDED A CARING LEARNING ENVIRONMENT IN WHICH A TECHNICALLY RICH, INTELLECTUALLY STIMULATING, QUALITY EDUCATION WAS DELIVERED BY A DEDICATED FACULTY AND STAFF. 58143932 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 1 171 0 1 636 1 0 0 0 0 0 0 0 0 0 0 0 0 X 4 4 1 0 1 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X X X JEREMY ALLEY 4075625500 7131 BUSINESS PARK LANE STE 300 LAKE MARY FL 32746 ARCHIE CUBARRUBIA DIRECTOR 5.00 X 0 0 0 JACKSON FARROW DIRECTOR 5.00 X 0 0 0 JERRY WHITE DIRECTOR 5.00 X 0 0 0 KEVIN WILCOX DIRECTOR 5.00 X 0 0 0 LEAH MATTHEWS DIRECTOR 5.00 X 0 0 0 ADAM MARTIN GENERAL COUNSEL/SENIOR VP OF HR 40.00 X 175475 0 925 BRANDON SHEDRON PROVOST 40.00 X 244520 0 5505 DEBORAH DIAZ SENIOR VICE PRESIDENT OF F 40.00 X 104700 0 15006 HEATHER MCIVER VP OF INSTITUTIONAL INNOVA 40.00 X 137557 0 10987 J MATTHEW BONNELL CHIEF INFORMATION OFFICER 40.00 X 158700 0 11325 JEREMY ALLEY CHIEF FINANCIAL OFFICER/CONTROLLER 40.00 X 131038 0 13775 MICHAEL RHODES SR. VICE PRESIDENT OF ENRO 40.00 X 167432 0 4347 PAMELA BELL PRESIDENT 40.00 X 375000 0 0 SUSAN RACE VP OF EDUCATIONAL SUPPORT 40.00 X 149617 0 5062 TODD ZVAIGZNE VP OF EDUCATIONAL SUPPORT 40.00 X 160229 0 15006 BONNIE DELASHMIT VP OF EDUCATIONAL SUPPORT 40.00 X 157565 0 4785 1961833 0 86723 11 0 1 0 SALTED CREATIVE LLC 36757 HUMMINGBIRD WAY N SELBYVILLE DE 19975 WEB DEVELOPER/MAINTAINS CANVAS/COURSE DE 350017 CDL MARKETING GROUP 302 E PARENT AVE ROYAL OAK MI 48067 LEAD SUPPLIER 311740 YNOT MARKETING LLC 2001 HOLLYWOOD BLVD SUITE 310 HOLLYWOOD FL 33020 DIALER AND LEAD MANAGEMENT SYSTEM 229001 I3 GROUP LLC 1100 W LAKE COOK ROAD SUITE 110 BUFFALO GROVE IL 60089 OURSOURCED DEFAULT MANAGEMENT GROUP 205829 NATIONAL HEALTHCAREER ASSOCIATION 62280 COLLECTION CENTER DRIVE CHICAGO IL 60693 TEXTBOOK/CERTIFICATION FOR ALLIED HEALTH 137024 8 1219852 19735 19735 1239587 TUITION AND FEES 611310 64925667 64925667 COSMETOLOGY SERVICES 611310 24075 24075 98771 98771 65048513 581 581 46736 42091 4645 4645 4645 66293326 65048513 0 5226 2631340 2631340 2048556 1528743 519813 18958239 17207621 1750618 781358 590735 190623 1640524 1495722 144802 505827 17208 488619 1622298 1462945 159353 5542223 5542223 1326460 448105 878355 1621924 1621924 10343282 9727645 615637 65614 52941 12673 3125 3125 755877 755877 10300623 10300623 829847 723150 106697 TEXTBOOKS AND SUPPLIES 2707262 2707262 STUDENT ACTIVITIES 482590 482590 OUTSIDE FINANCIAL AID 287710 287710 EMPLOYEE AND PERSONNEL 39985 35297 4688 629119 521146 107973 63123783 58143932 4979851 0 97769 36207 9896451 14287707 1580115 1888729 6540 5116 1544226 1467642 19645869 16933522 2666601 2712347 16329593 16326233 1372886 820122 33494181 37544103 5076768 9034524 5705146 5220592 80147222 85031916 825808 0 6226243 1390376 97981187 100677408 X 0 0 0 0 -64487006 -63133305 -64487006 -63133305 33494181 37544103 X 3169543 -1815842 X X 0 0 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 286600 286600 1217799 257975 959824 3253483 2579443 674040 14622834 13841861 780973 265153 254243 10910 2712347 LONG TERM LINE OF CREDIT 1390376 1390376 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE POLICY IS PUBLISHED ON THE COMPANY'S WEB PAGE AND IN THE CATALOG GIVEN TO EACH INDIVIDUAL THAT ENROLLS TO ATTEND ANY CAMPUS OPERATED BY THE COMPANY, ANY INDIVIDUAL THAT IS A PROSPECTIVE STUDENT THAT INTERVIEWS WITH AN ADMISSION REPRESENTATIVE AT A CAMPUS AND TO PROSPECTIVE DISTANCE EDUCATION STUDENTS. CURRENTLY, THE POLICY IS ALSO DISCLOSED IN THE COMPANY'S ADVERTISING MATERIALS. SCHEDULE E, PART I, LINE 6 REMINGTON COLLEGE RECEIVED $6,704,434 FROM THE HIGHER EDUCATION EMERGENCY RELIEF FUND (HEERF), OF WHICH $1,219,852 WAS USED DURING THE CURRENT YEAR. 1 SCHOLARSHIP 3264 2631340 VALUE OF CREDIT HOURS PART I, LINE 2: GRANTS TO INDIVIDUALS. THE SCHOLARSHIPS ARE AWARDED TO STUDENTS THAT ATTEND ONE OF THE COMPANY'S COLLEGES. THE FINANCIAL AID DEPARTMENT REVIEWS THE APPLICATIONS FOR THE SCHOLARSHIPS SUBMITTED BY STUDENTS OR PROSPECTIVE STUDENTS, COMPARES THE APPLICATIONS WITH THE WRITTEN ELIGIBILITY CRITERIA AND DETERMINES IF THE APPLICANT IS ELIGIBLE AND THEN APPROVES OR REJECTS AN APPLICATION. A WRITTEN RECORD OF THE APPROVALS AND THE AMOUNTS OF THE SCHOLARSHIPS IS MAINTAINED. THE ACCOUNTING AND FINANCIAL AID DEPARTMENTS ARE THEN NOTIFIED OF THE AMOUNT OF ANY SCHOLARSHIP AWARDED AND A PRO RATA PORTION OF THE SCHOLARSHIP IS CREDITED TO THE STUDENT'S ACCOUNT ON A MONTHLY BASIS. IF A STUDENT WITHDRAWS FROM THE COLLEGE, THE UNUSED PORTION OF THE SCHOLARSHIP IS CANCELLED. SCHEDULE I, PART 1, LINE 2: 1 X 0 0 0 0 0 0 0 0 0 PAMELA BELL PRESIDENT 375000 0 0 0 0 0 0 0 0 0 375000 0 0 0 BRANDON SHEDRON PROVOST 244520 0 0 0 0 0 0 0 5505 0 250025 0 0 0 ADAM MARTIN GENERAL COUNSEL/SENIOR VP OF HR 175475 0 0 0 0 0 0 0 925 0 176400 0 0 0 TODD ZVAIGZNE VP OF EDUCATIONAL SUPPORT 160229 0 0 0 0 0 0 0 15006 0 175235 0 0 0 MICHAEL RHODES SR. VICE PRESIDENT OF ENRO 167432 0 0 0 0 0 0 0 4347 0 171779 0 0 0 J MATTHEW BONNELL CHIEF INFORMATION OFFICER 158700 0 0 0 0 0 0 0 11325 0 170025 0 0 0 BONNIE DELASHMIT VP OF EDUCATIONAL SUPPORT 157565 0 0 0 0 0 0 0 4785 0 162350 0 0 0 SUSAN RACE VP OF EDUCATIONAL SUPPORT 149617 0 0 0 0 0 0 0 5062 0 154679 0 0 0 PART I, LINE 1B HOUSING ALLOWANCES ARE MADE BASED ON VERBAL AGREEMENTS. THE ORGANIZATION DOES NOT HAVE A WRITTEN POLICY REGARDING HOUSING ALLOWANCES. EDUCATION AMERICA INC FORMER DIRECTOR JERRY BARNETT OWNS 80.331% OF EDUCATION AMERICA, INC. PURCHASE OF SCHOOLS X 82488566 82995152 0 1 1 EDUCATION AMERICA INC FORMER DIRECTOR JERRY BARNETT OWNS 80.331% OF EDUCATION AMERICA, INC. WORKING CAPITAL FOR DAY TO DAY OPERATIONS X 3000000 2036764 0 1 1 85031916 FORM 990, PART III, LINE 1, DESCRIPTION OF ORGANIZATION'S MISSION INTO, OR ADVACEMENT WITHIN, THEIR CHOSEN CAREER FIELDS. TO ACCOMPLISH ITS MISSION, REMINGTON COLLEGE IS COMMITTED TO PROVIDING A LEARNING ENVIRONMENT IN WHICH LEARNING BY TRADITIONAL AND NON-TRADITIONAL STUDENTS IS FOCUSED BOTH ON CAREER SPECIFIC KNOWLEDGE AND SKILLS AND THE VALUE OF BROAD GENERAL EDUCATION. REMINGTON COLLEGE BELIEVES THAT AN EDUCATIONAL EXPERIENCE WHICH INCLUDES BOTH CAREER FOCUSED STUDIES AND BROAD GENERAL KNOWLEDGE CAN PROVIDE GRADUATES WITH A BALANCED PERSPECTIVE WHICH CAN LEAD TO A MORE FULFILLING LIFE. TO ACHIEVE ITS MISSION, REMINGTON COLLEGE RECRUITS AND MAINTAINS A CARING FACULTY WHOSE ACADEMIC QUALIFICATIONS ARE ENHANCED BY YEARS OF PROFESSIONAL EXPERIENCE IN THE WORKPLACE. REMINGTON'S FACULTY IS SUPPORTED BY AN ADMINISTRATION COMMITTED TO HELPING STUDENTS ACHIEVE THEIR GOAL OF STARTING OR ENHANCING THEIR CAREER. FORM 990, PART IV, LINE 12A: THE ORGANIZATION DID NOT RECEIVE AUDITED FINANCIAL STATEMENTS FOR THE TAX YEAR ENDED DECEMBER 31, 2020 BUT DID RECEIVE AUDITED FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED JUNE 30, 2020. THE ORGANIZATION HAS AN AUDIT COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE FISCAL YEAR AUDIT AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THE FISCAL YEAR AUDITED FINANCIALS ARE ISSUED ON A SEPARATE BASIS. FORM 990, PART VI, SECTION A, LINE 2 BOARD MEMBERS JACKSON FARROW JR. AND KEVIN WILCOX ARE BOTH EMPLOYED BY STEPHENS, INC., A PRIVATELY-HELD, INDEPENDENT FINANCIAL SERVICES FIRM. FORM 990, PART VI, SECTION A, LINE 4 THE SOLE MEMBER OF REMINGTON COLLEGE, THE EDUCATION CHARITABLE TRUST, RELINQUISHED ITS RIGHTS AND OBLIGATIONS AS THE SOLE MEMBER OF THE ORGANIZATION ON APRIL 1, 2021. THE ORGANIZATION BECAME A SELF-SUSTAINING ORGANIZATION. THIS RESULTED IN THE REMOVAL OF THE RIGHT OF THE EDUCATION CHARITABLE TRUST FROM HAVING THE RIGHT APPOINT 3 OF THE 5 BOARD DIRECTORS. EACH DIRECTOR POSITION BECAME AN AT-LARGE DIRECTOR TO BE APPOINTED BY THE THEN SERVING BOARD OF DIRECTORS. FURTHER, THE ORGANIZATION ALSO INCREASED THE BOARD SIZE CAPACITY FROM 5 DIRECTORS TO 9 DIRECTORS SHOULD THE BOARD DECIDE TO APPOINT ADDITIONAL DIRECTORS. LASTLY, THE BOARD UPDATED THE ORGANIZATION'S BYLAWS TO ALLOW FOR A QUORUM OF DIRECTORS TO TAKE ACTION AT A BOARD OF DIRECTORS MEETING, INSTEAD OF A MAJORITY. FORM 990, PART VI, SECTION A, LINE 6 THE SOLE MEMBER OF THE COLLEGE IS THE EDUCATION CHARITABLE TRUST. FORM 990, PART VI, SECTION A, LINE 7A THE ARTICLES OF INCORPORATION OF THE COMPANY PROVIDE THAT THE COMPANY SHALL HAVE A MEMBER. THE COMPANY'S BYLAWS PROVIDE THE MEMBER OF THE COMPANY, CURRENTLY THE EDUCATION CHARITABLE TRUST, HAS THE POWER TO APPOINT A MAJORITY OF THE MEMBERS OF THE BOARD. THIS POWER ENSURES THAT ALL ACTIONS TAKEN BY THE BOARD WILL BE APPROVED BY DISINTERESTED MEMBERS, I.E. MEMBERS WITH NO PRIOR AFFILIATION WITH THE PREDECESSOR ORGANIZATION, EDUCATION AMERICA, INC. FORM 990, PART VI, SECTION A, LINE 7B THE ARKANSAS NONPROFIT CORPORATION ACT PROVIDES THAT THE MEMBER OF THE COMPANY MAY AMEND THE COMPANY'S ARTICLES OF INCORPORATION AND THAT THE APPROVAL OF THE MEMBER IS REQUIRED TO MAKE CERTAIN AMENDMENTS TO THE ARTICLES OF INCORPORATION. THE ARKANSAS NONPROFIT CORPORATION ACT PROVIDES THAT THE MEMBER OF THE COMPANY MUST APPROVE ANY MERGER OF THE COMPANY, ANY SALE OR OTHER DISPOSITION OF SUBSTANTIALLY ALL OF THE ASSETS OF THE COMPANY OR THE DISSOLUTION OF THE COMPANY. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY THE PRESIDENT AND GENERAL COUNSEL AND IS MADE AVAILABLE TO THE DIRECTORS OF THE ORGANIZATION PRIOR TO BEING FILED. FORM 990, PART VI, SECTION B, LINE 12C THE COMPANY HAS A POLICY THAT REQUIRES IMMEDIATE DISCLOSURE OF ANY CONFLICT OF INTEREST OR POTENTIAL CONFLICT OF INTEREST BY DIRECTORS, OFFICERS, MANAGERS AT THE TIME THE CONFLICT ARISES. THE COMPANY ALSO REQUIRES A CONFLICTS OF INTEREST DISCLOSURE STATEMENT TO BE COMPLETED ANNUALLY. THE BOARD HAS HAD CONFLICTS OF INTEREST PRESENTED TO THEM FOR CONSIDERATION AND APPROVED THE TERMS UPON WHICH THE CONFLICT WOULD BE RESOLVED OR DISALLOWED. THE PRESIDENT OF THE COMPANY HAS REVIEWED CONFLICTS PRESENTED TO HIM/HER WHERE THE RESOLUTION WAS WITHIN HIS/HER AUTHORITY IN ACCORDANCE WITH THE CONFLICTS OF INTEREST POLICY AND APPROVED THE TERMS UPON WHICH THE CONFLICT WOULD BE RESOLVED OR DISALLOWED. ALL CONFLICTS OF INTEREST THAT MIGHT INVOLVE A PRIVATE BENEFIT WERE ALSO REVIEWED IN ACCORDANCE WITH THE PRIVATE INUREMENT POLICY. CONTRACTS FOR GOODS AND SERVICES PURCHASED BY THE COMPANY ARE REVIEWED BY THE LEGAL DEPARTMENT AND ANY THAT MIGHT INVOLVE A CONFLICT OF INTEREST ARE REPORTED TO THE PRESIDENT IN ACCORDANCE WITH THE CONFLICTS OF INTEREST POLICY. FORM 990, PART VI, SECTION B, LINE 15 CHANGES IN COMPENSATION OF EXECUTIVE OFFICERS AND THE COMPENSATION OF NEW EXECUTIVE OFFICERS ARE REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS. THE BOARD DETERMINES WHETHER THE COMPENSATION IS AT FAIR MARKET VALUE BASED UPON THE EXPERIENCE LEVELS OF THESE INDIVIDUALS AND IMPORTANCE TO THE OPERATIONS OF THE COMPANY IN THE FUTURE. FORM 990, PART VI, SECTION C, LINE 19 ALL DOCUMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: ACCRUED INTEREST EXPENSE -21,442,134. BAD DEBT EXPENSE -4,565,274. BOOK/TAX DIFFERENCE IN AMORTIZATION EXPENSE 9,345,646. GAIN ON DEBT RESTRUCTURING 14,845,920. FORM 990, PART XII, LINE 2B: THE ORGANIZATION RECEIVED AUDITED FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED JUNE 30, 2020. THE EDUCATION CHARITABLE TRUST 1701 CANTRELL RD LITTLE ROCK AR 72201 204545463 EDUCATIONAL SUPPORT AR 501(C)(3) PRIVATE FOUNDATION 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0