2017-05-15T11:46:24-05:00 2016-06-30 KPMG LLP 666 Grand Avenue Suite 2500 Des Moines IA 503092578 990 2015-07-01 421137531 Iowa Student Loan Liquidity Corporation % Ron W Foresman IOWA 5152737210 6775 Vista Drive West Des Moines IA 502669307 ERIN LACEY CFO 5152737210 2017-05-15 true CHELSEA BERNS P01225085 5152887465 2015 2021-01-29 14:40:06Z Erin Lacey 6775 Vista Drive West Des Moines IA 502669307 61713351 false X www.studentloan.org X 1979 IA To help iowa students and families obtain the resources necessary to succeed in postsecondary education. 11 6 111 0 404919 370507 0 0 62548606 59169506 65270 2499953 46767 43892 62660643 61713351 0 0 0 0 5936358 6681289 0 0 0 65760389 64455463 71696747 71136752 -9036104 -9423401 1800822531 1607297697 1303985543 1100784458 496836988 506513239 To help Iowa students and families obtain the resources necessary to succeed in postsecondary education. false false 65661867 0 61308432 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, 2016, the Corporation owned and serviced loans totaling 265,322 with an outstanding balance of $1,529,243,485. 65661867 true false false true false false false false false false true false false true true false true true false false false false false false false false false false false true true false false false false false false false false false false false false false false false true true true false false true 88 0 true 111 true true true false false false false false false false false false X 11 6 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 17561 0 0 Laurie Hempin Board Member 1.0 0.0 X 9210 0 0 Tammy Bramley Board Member 1.0 0.0 X 17285 0 0 Daniel Clute Board Member 1.0 0.0 X 11633 0 0 Adam Voigts Board Member 1.0 0.0 X 11533 0 0 Lorraine Groves Board Member 1.0 0.0 X 9331 0 0 Scott Schneidermann Board Member 1.0 0.0 X 10806 0 0 Rob Denson Board Member 1.0 0.0 X 0 0 0 Jim Schipper Board Member 1.0 0.0 X 1452 0 0 Miles Lackey Board Member 1.0 0.0 X 3427 0 0 Marcia Rogers Board Member 1.0 0.0 X 0 0 0 Robert W Sackett Board Member 1.0 0.0 X 5027 0 0 Steve McCullough President & CEO 40.0 0.0 X 381615 0 38489 Erin Lacey EVP & Treasurer 40.0 0.0 X 220815 0 29320 Mary Kay DeBolt Sr. Operations VP & Secretary 40.0 0.0 X 0 195354 23932 Walter Witthoff Sr. Compliance VP 40.0 0.0 X 173458 0 21161 Marc Hendel Sr. Researcher & Data Mgr 40.0 0.0 X 178846 0 25855 Chi-Ming J Lin Chief Technical Architect 40.0 0.0 X 174833 0 25762 Greg Nichols Sr. Pub Affairs & Comm Rel VP 40.0 0.0 X 174910 0 23079 Cindy Bartz CIO & Proj Mgmt VP 40.0 0.0 X 166770 0 29443 Ron Foresman Accounting & Risk Mgmt VP 40.0 0.0 X 171784 0 25928 1740296 195354 242969 24 false true false Ahlers Cooney PC 100 Court Ave Suite 600 Des Moines IA 50309 Legal 478597 KPMG LLP 666 Grand Avenue Suite 2500 Des Moines IA 50309 Audit and Tax 279193 Duff Phelps 12595 Collection Center Drive Chicago IL 60693 Consulting 284334 3 0 Student Loan Interest Income 522291 56808586 56808586 Other Student Loan Revenue 522291 2360920 2360920 59169506 2499953 2095034 404919 0 0 0 0 0 0 0 0 0 Miscellaneous Income 522291 43892 43892 43892 61713351 61308432 404919 0 0 0 0 1740296 1740296 0 2734251 2734251 771880 665209 106671 803736 742987 60749 631126 254004 377122 0 311909 311909 267450 267450 135641 135641 0 0 0 241136 241136 370826 370826 897725 897725 0 386746 386746 91552 91552 0 75478 75478 29304704 29304704 0 1994428 1994428 0 Service Charges & Fees 14236239 14236239 Consolidated Rebate Fee 4271469 4271469 Provision for Loan Losses 8378767 8378767 Debt Related Expenses 674157 674157 2817236 2200976 616260 71136752 65661867 5474885 0 2234985 5043366 188709504 113184771 0 0 1535213813 1362772903 0 0 0 0 0 0 0 0 939828 1603810 37587155 25591605 13366732 11995550 30354866 19737692 9424320 10503822 0 0 0 0 20578483 82455783 1800822531 1607297697 5318987 2785375 0 0 105831151 91806389 435447872 357985906 0 0 0 0 755251546 646484225 0 0 2135987 1722563 1303985543 1100784458 X 229710833 223355793 0 0 267126155 283157446 496836988 506513239 1800822531 1607297697 X -9423401 -402853 19502505 X false true X true true true X 0 0 0 0 0 0 70025366 82729068 68885289 62548606 59169506 343357835 0 0 0 70025366 82729068 68885289 62548606 59169506 343357835 0 0 0 343357835 28783 31236 220287 65270 2095034 2440610 0 28783 31236 220287 65270 2095034 2440610 370507 370507 1200 2326 5270 46767 43892 99455 70055349 82762630 69110846 62660643 61678939 346268407 0.99159 0.99820 0.00705 0.00110 X 135641 135641 71106278 71241919 1000000 250000 1000000 1000000 1000000 1000000 4000000 6000000 139575 147900 144553 135641 567669 250000 250000 250000 250000 1000000 1500000 0 3129449 3129449 0 6858962 1174535 5684427 0 1693285 1384165 309120 0 7783900 7569048 214852 0 18121559 15463857 2657702 11995550 ACCRUED INTEREST RECEIVABLE 19086073 LOC LINK CAPITAL 52412587 LOC SKILLS FUND 7266315 INTEREST SWAP & CAP AGREEMENTS 6955529 OTHER RECEIVABLES 1237188 INTERFUND RECEIVABLE -4501909 82455783 0 ACCRUED INTEREST PAYABLE 1722563 1722563 67560621 -402853 6250123 5847270 61713351 61713351 57884373 -13252379 -13252379 71136752 71136752 SCHEDULE D, PART XI, LINE 2d NET INCOME FROM TAXABLE SUBSIDIARY -1,642,209 FEES FROM TAXABLE SUBSIDIARY -4,607,914 SCHEDULE D, PART XII, LINE 2D AMORTIZATION OF BONDS EXTINGUISMENT GAIN -17,965,458 FEES FROM TAXABLE SUBSIDIARY 4,607,914 REVERSAL OF LOSS ON BOND REDEMPTION 105,165 X X X false false false false false false false false false Steve McCullough President & CEO 381615 0 0 0 0 0 24700 0 13789 0 420104 0 0 Erin Lacey EVP & Treasurer 220815 0 0 0 0 0 18998 0 10322 0 250135 0 0 0 Mary Kay DeBolt Sr. Operations VP & Secretary 0 195354 0 0 0 0 0 18098 0 5834 0 219286 0 0 Walter Witthoff Sr. Compliance VP 173458 0 0 0 0 0 16726 0 4435 0 194619 0 0 0 Marc Hendel Sr. Researcher & Data Mgr 178846 0 0 0 0 0 17641 0 8214 0 204701 0 0 0 Chi-Ming J Lin Chief Technical Architect 174833 0 0 0 0 0 17141 0 8621 0 200595 0 0 0 Greg Nichols Sr. Pub Affairs & Comm Rel VP 174910 0 0 0 0 0 16714 0 6365 0 197989 0 0 0 Cindy Bartz CIO & Proj Mgmt VP 166770 0 0 0 0 0 16311 0 13132 0 196213 0 0 0 Ron Foresman Accounting & Risk Mgmt VP 171784 0 0 0 0 0 13222 0 12706 0 197712 0 0 0 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 A 0 0 231848004 2300000 0 0 2452123 0 0 0 0 0 2010 true false true true B 0 0 419500000 5614800 0 0 2418906 0 0 0 0 0 2012 true false true true C 0 0 37800000 1512000 1134000 0 745976 0 0 0 0 11918163 2016 false 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 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 A true B true C 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 its documents avaliable to the public upon request. Form 990, Part XI, Line 9 Amortization of Bond Extinguishment Gain 17,965,458 INCOME OF TAXABLE SUBSIDIARY 1,642,209 LOSS ON BOND REDEMPTION -105,162 Aspire Resources Inc 6775 Vista Drive West Des Moines IA 50266 421520183 Loan Servicing IA ISLLC C Corp 1642209 10366133 1.00000 false true false false true false false false false false false false false false true true false false false false Aspire Resources Inc n Aspire Resources Inc o Link Capital Partners LLC a 404919 Link Capital Partners LLC d 52412587