2020-04-29T15:10:28-05:00 2019-06-30 KPMG LLP 666 Grand Avenue Suite 2500 Des Moines IA 503092578 990 2018-07-01 421137531 Iowa Student Loan Liquidity Corporation % Ron W Foresman IOWA 5152737210 6775 Vista Drive West Des Moines IA 502669307 ERIN LACEY EVP & Treasurer 5152737210 2020-04-26 true CLIFF FINDLAY P01074012 5152887465 2020-03-07 167.68.102.5 42011120201205000000 2020-04-29 P 8A5C46716958F9D331A6DE825B8C303369DA92FC 604C143FC61724DA6E8586261B3B732A54F93E22 2018 2020-09-23 17:36:50Z ERIN LACEY 6775 Vista Drive West Des Moines IA 502669307 72469069 false X www.studentloan.org X 1979 IA To help iowa students and families obtain the resources necessary to succeed in postsecondary education. 11 5 103 0 0 2800 0 65734870 69907503 1993784 2561370 30992 196 67762446 72469069 950000 950000 0 0 8166415 11288714 0 0 0 75095671 75136392 84212086 87375106 -16449640 -14906037 1544042175 1332262692 1031216786 816614678 512825389 515648014 X To help Iowa students and families obtain the resources necessary to succeed in postsecondary education. false false 82238068 72469069 Iowa Student Loan Liquidity Corporation provides funds for the acquisition and servicing of student loans under the U.S. Higher Education Act of 1965, as amended, and other non-Higher Education Act student loan programs. As of June 30, 2019, the Corporation owned and serviced loans totaling 185,846 with an outstanding balance of $1,288,749,667. 950000 Contribution to ICAN 950000 82238068 true false false true false false false false false false true false false false true false true true false false false false false false false false false true false true true false false true false false false false false false false false false false false false true true true false false true 37 0 true 103 true false false false false false false false false false false X 11 5 false false false false false false false true true false false true true true true true true true false false X Ron W Foresman 5152737210 6775 Vista Drive West Des Moines IA 50266 X Christine Hensley Board Chairperson 1.0 0.0 X 18004 0 0 Laurie Hempin Board Member 1.0 0.0 X 8833 0 0 Tammy Bramley Board Member 1.0 0.0 X 15454 0 0 Daniel Clute Board Member 1.0 0.0 X 11431 0 0 Adam Voigts Board Member 1.0 0.0 X 12333 0 0 Lorraine Groves Board Member 1.0 0.0 X 9533 0 0 Scott Schneidermann Board Member 1.0 0.0 X 12131 0 0 Rob Denson Board Member 1.0 0.0 X 0 0 0 Jim Schipper Board Member 1.0 0.0 X 11008 0 0 Marcia Rogers Board Member 1.0 0.0 X 7904 0 0 Mark Braun Board Member 1.0 0.0 X 0 0 0 Steve McCullough President & CEO 40.0 0.0 X 417743 0 45962 Erin Lacey EVP & Treasurer 40.0 0.0 X 247528 0 39634 Mary Kay DeBolt Sr. Operations VP & Secretary 40.0 0.0 X 0 210491 26823 Cindy Bartz CIO & Proj Mgmt VP 40.0 0.0 X 200342 0 42982 Greg Nichols Sr. Pub Affairs & Comm Rel VP 40.0 0.0 X 188070 0 28319 Ron Foresman Accounting & Risk Mgmt VP 40.0 0.0 X 210579 0 32742 Marc Hendel Sr. Researcher & Data Mgr 40.0 0.0 X 193080 0 18959 Chi-Ming J Lin Chief Technical Architect 40.0 0.0 X 187351 0 34050 Marsha Boender Dir, Lender & School Serv. 40.0 0.0 X 156468 0 31403 Chris Hammerstrom Prod. Dev. Director 40.0 0.0 X 154481 0 26905 Shawn Smith Lead Database Administrator 40.0 0.0 X 141888 0 19978 2204161 210491 347757 29 false true false Ahlers Cooney PC 100 Court Ave Suite 600 Des Moines IA 50309 Legal 587759 KPMG LLP 666 Grand Avenue Suite 2500 Des Moines IA 50309 Audit & Tax Services 446020 Wright Concrete 900 25th St West Des Moines IA 50265 Concrete Contractor 103507 Ramaanchar Technologies Inc 1001 Highland Park Circle Coralville IA 52241 Software Developer 150440 4 X 0 Student Loan Interest Income 522291 65015371 65015371 Other Student Loan Revenue 522291 4892132 4892132 69907503 2561370 2561370 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Miscellaneous Income 522291 196 196 196 72469069 72469069 950000 950000 0 0 0 2204162 2204162 0 6824689 6824689 832670 701671 130999 779005 693542 85463 648188 448227 199961 0 232082 232082 478859 478859 153665 153665 0 0 0 546730 546730 460966 460966 986665 986665 0 378955 378955 73971 73971 0 62638 62638 37653482 37653482 0 1805512 1805512 0 Service Charges & Fees 15365212 15365212 0 0 Consolidated Rebate Fee 3113259 3113259 0 0 Provision for Loan Losses 7972955 7972955 0 0 Debt Related Expenses 1147915 1147915 0 0 4703526 4703526 87375106 82238068 5137038 0 X 1306236 2130729 183736321 99544864 0 0 1247430970 1132539618 0 0 0 0 0 0 0 0 3030963 1051235 42988309 30888995 12974663 12099314 14783884 13055502 35917693 36855083 0 0 0 0 44861445 34986347 1544042175 1332262692 9743304 6932788 0 0 46263316 30287177 452186468 320348232 0 0 0 0 521040931 457601237 0 0 1982767 1445244 1031216786 816614678 X 200994984 197582510 0 0 311830405 318065504 512825389 515648014 1544042175 1332262692 X -14906037 1003191 16725471 X false true X true true true X 0 0 2700 2800 0 5500 62548606 59169506 57889433 65734870 65163176 310505591 0 0 0 62548606 59169506 57892133 65737670 65163176 310511091 0 0 0 310511091 65270 2095034 1085010 2610542 2561370 8417226 0 65270 2095034 1085010 2610542 2561370 8417226 0 46767 43892 30830 30992 196 152677 62660643 61308432 59007973 68379204 67724742 319080994 0.97314 0.98055 0.02638 0.01896 X 153669 153669 87812038 87965707 1000000 250000 1000000 1000000 1000000 1000000 4000000 6000000 135641 144428 147979 153669 581717 250000 250000 250000 250000 1000000 1500000 3129449 3129449 7671220 2375881 5295339 1376897 1371333 5564 10268820 8633538 1635282 20541923 18508243 2033680 12099314 0 ACCRUED INTEREST PAYABLE 1445244 1445244 74409649 1003191 937389 1940580 72469069 72469069 71587025 30416 30416 71556609 15818497 15818497 87375106 Schedule D, Part XI, Line 2d NET INCOME FROM TAXABLE SUBSIDIARY -937,389 FEES FROM TAXABLE SUBSIDIARY -436,932 Schedule D, Part XII, Line 2d AMORTIZATION OF BONDS EXTINGUISHMENT GAIN -15,818,497 FEES FROM TAXABLE SUBSIDIARY 436,932 REVERSAL OF LOSS ON BOND REDEMPTION 30,416 true ICAN 1770 Boyson Street Hiawatha IA 52233 270915418 950000 Contribution 1 Form Sch I Part I Line 2 During calendar year 2009 ISL spun off a segment of its business into a separate tax-exempt organization (ICAN). ISL's CEO/President is a board member of ICAN and ISL contributes a significant amount of money annually to ICAN to support its operations. During FY 2019 ISL contributed $950,000. X X X false false false false false false false false false Steve McCullough President & CEO 417743 26125 19837 463705 Erin Lacey EVP & Treasurer 247528 25046 14588 287162 Mary Kay DeBolt Sr. Operations VP & Secretary 210491 20365 6458 26823 210491 Cindy Bartz CIO & Proj Mgmt VP 200342 20271 22711 243324 Greg Nichols Sr. Pub Affairs & Comm Rel VP 188070 18477 9842 216389 Ron Foresman Accounting & Risk Mgmt VP 210579 20715 12027 243321 Marc Hendel Sr. Researcher & Data Mgr 193080 18539 420 212039 Chi-Ming J Lin Chief Technical Architect 187351 18708 15342 221401 Marsha Boender Dir, Lender & School Serv. 156468 15675 15728 187871 Chris Hammerstrom Prod. Dev. Director 154481 14917 11988 181386 Shawn Smith Lead Database Administrator 141888 13978 6000 161866 A Iowa Student Loan Liquidity Corporation 421137531 462590HV5 2009-11-24 231848004 Provide funds for eligible student false false false B Iowa Student Loan Liquidity Corporation 421137531 462590JQ4 2011-11-10 419500000 Provide funds for eligible student false false false C Iowa Student Loan Liquidity Corporation 421137531 462590JU5 2015-05-13 37800000 Provide funds for eligible student false false false D Iowa Student Loan Liquidity Corporation 421137531 462590LR9 2018-06-06 74290000 Provide funds for eligible student false false false A 202780000 0 231848004 2300000 0 0 2452123 0 0 0 0 0 2010 true false true true B 398010000 0 419500000 4195014 0 0 2418906 0 0 0 0 0 2012 true false true true C 13335000 0 40587485 978600 0 0 745976 0 0 0 0 0 2016 false false true true D 0 0 75707259 0 0 0 1432488 0 0 0 0 3151652 2019 true false true true A false false false false 0 false false false true B false false false false 0 false false false true C false false false false 0 false false false true D false false false false 0 false false false true A false true false false false false 0 false 0 false true B false true false false false true Morgan Stanley 19. false false false 0 false true C false true false false false false 0 false 0 false true D false true false false false false 0 false 0 false true A true B true C true D true Form 990 Part VI Line 11a All completed forms to be filed are presented to and reviewed with the Board of Directors. Form 990 Part VI Line 12c A Director should be sensitive to any interest and potential conflict he or she may have in a decision to be made by the Board of Directors and, as far as possible, recognize such interest and potential conflict prior to the discussion or presentation of such a matter before the Board. When a director has an interest in a transaction being considered by the Board of Directors, the Director should disclose the conflict before the Board takes action on the matter. Upon disclosure by the Director, the Board should take appropriate protective steps. On an annual basis, all Directors are asked to disclose any conflicts of interest through a completed and signed submitted form. Form 990 Part VI Line 15a The ISL Board of Directors conducts a performance review of the CEO annually. The salary range for the CEO is established with the help of an outside independent compensation expert. Several salary surveys are conducted to make sure the Corporation is compensating the CEO at a competitive yet reasonable rate. Form 990 Part VI Line 19 The organization makes it documents avaliable to the public upon request. Form 990 Part XI Line 9 Amortization of Bond Extinguishment Gain 15,818,497 Revenue of Taxable Subsidiary 937,389 Expenses of Taxable Subsidiary -30,416 Form 990 Part X Line 23 Lender: Bonds Payable Beginning Balance Due ................................ 453,852,042 Ending Balance Due ................................... 719,458,225 Lender: Notes Payable Beginning Balance Due ................................. 67,188,889 Ending Balance Due .................................... 58,491,244 Total Beginning mortgages and Other Notes Payable 521,040,931 Total Ending Mortgages and Other Notes Payable 777,949,469 NA NA Aspire Resources Inc 6775 Vista Drive West Des Moines IA 50266 421520183 Loan Servicing IA ISLLC C Corp 937389 38982123 1.00000 false false false false false false false false false false false false false false true true false false false false Aspire Resources Inc N 2980704 Company Records Aspire Resources Inc O 2177674 Company Records