THE CATHERINE B REYNOLDS FOUNDATION INC: Form 990, tax year 2015
View the entire original 990 at ProPublica ↗
- Organization
- THE CATHERINE B REYNOLDS FOUNDATION INC (EIN 52-1509402)
- Tax period
- 2015-10-01 to 2016-09-30
- Filed
- 2017-08-09
- IRS object ID
- 201732219349300238
- Schema version
- 2015v3.0
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2017-08-09T11:53:32-05:00 | ReturnTs |
| Tax Period End | 2016-09-30 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 330835986 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SQUAR MILNER LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 15760 VENTURA BLVD SUITE 1100 | AddressLine1Txt |
| City | ENCINO | CityNm |
| State Abbreviation | CA | StateAbbreviationCd |
| ZIP | 91436 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2015-10-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 521509402 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | EDUCAP INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | EDUC | BusinessNameControlTxt |
| Phone | 7036744718 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 45610 WOODLAND ROAD NO 440 | AddressLine1Txt |
| City | STERLING | CityNm |
| State Abbreviation | VA | StateAbbreviationCd |
| ZIP | 20166 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | MATTHEW MURRAY | PersonNm |
| Person Title | CHIEF FINANCIAL OFFICER | PersonTitleTxt |
| Phone | 7036744718 | PhoneNum |
| Signature | 2017-08-01 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | WILLIAM F WOLF | PreparerPersonNm |
| PTIN | P00166601 | PTIN |
| Phone | 8189812600 | PhoneNum |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2015 | TaxYr |
| Build TS | 2021-01-29 14:40:06Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Change | Yes (X) | AddressChangeInd |
Doing Business As Name DoingBusinessAsName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CATHERINE B REYNOLDS FOUNDATION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | CATHERINE B REYNOLDS | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 45610 WOODLAND ROAD NO 440 | AddressLine1Txt |
| City | STERLING | CityNm |
| State Abbreviation | VA | StateAbbreviationCd |
| ZIP | 20166 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $14,917,477 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | WWW.EDUCAP.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1986 | FormationYr |
| Legal Domicile State | MD | LegalDomicileStateCd |
| Activity Or Mission | SEE PART III, LINE 1 AND 4A. | ActivityOrMissionDesc |
| Voting Members Governing Body | 6 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 4 | VotingMembersIndependentCnt |
| Total Employee | 22 | TotalEmployeeCnt |
| Total Volunteers | 0 | TotalVolunteersCnt |
| Total Gross UBI | $83,904 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $13,139,003 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $14,625,354 | CYProgramServiceRevenueAmt |
| PY Investment Income | $526,532 | PYInvestmentIncomeAmt |
| CY Investment Income | $90,195 | CYInvestmentIncomeAmt |
| PY Other Revenue | $290,721 | PYOtherRevenueAmt |
| CY Other Revenue | $201,928 | CYOtherRevenueAmt |
| PY Total Revenue | $13,956,256 | PYTotalRevenueAmt |
| CY Total Revenue | $14,917,477 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $3,306,621 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $3,028,803 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $3,093,751 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $3,045,429 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $6,157,798 | PYOtherExpensesAmt |
| CY Other Expenses | $5,751,277 | CYOtherExpensesAmt |
| PY Total Expenses | $12,558,170 | PYTotalExpensesAmt |
| CY Total Expenses | $11,825,509 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $1,398,086 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $3,091,968 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $148,588,304 | TotalAssetsBOYAmt |
| Total Assets EOY | $139,113,492 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $96,306,130 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $83,065,195 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $52,282,174 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $56,048,297 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | TO HELP STUDENTS GAIN ACCESS TO FUNDS TO PAY FOR COLLEGE COSTS AND TO SUPPORT A VARIETY OF PHILANTHROPIC PROGRAMS. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $7,584,258 | ExpenseAmt |
| Revenue | $14,625,354 | RevenueAmt |
| Desc | 1. TO RECEIVE AND ADMINISTER FUNDS FOR RELIGIOUS, SCIENTIFIC, EDUCATIONAL, AND CHARITABLE PURPOSES WITHIN THE MEANING OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1986, AS THE SAME MAY BE AMENDED FROM TIME TO TIME ("THE CODE").2. TO CARRY ON A VARIETY OF PROGRAMS RELATING TO, AMONG OTHER THINGS, THE LENDING OF FUNDS TO OR FOR THE BENEFIT OF STUDENTS, FACULTY AND STAFF OF EDUCATIONAL INSTITUTIONS AND OTHERS FOR EDUCATIONAL PURPOSES, INCLUDING SERVICING AND ADMINISTERING STUDENT LOAN PORTFOLIOS.3. TO ADMINISTER PROGRAMS WHEREBY OTHER GOVERNMENTAL OR NONGOVERNMENTAL ENTITIES LEND FUNDS TO OR FOR THE BENEFIT OF, AMONG OTHERS, STUDENTS, FACULTY AND STAFF OF EDUCATIONAL INSTITUTIONS AND NON-PROFIT INSTITUTIONS, IN FURTHERANCE OF RELIGIOUS, SCIENTIFIC, EDUCATIONAL OR CHARITABLE PURPOSES.4. TO DO ANY OTHER ACT OR THING INCIDENTAL TO OR CONNECTED WITH THE FOREGOING PURPOSES OR IN ADVANCEMENT THEREOF.EXEMPT PURPOSE ACHIEVEMENT:EDUCAP INC. HAS PROVIDED OVER $2,500,000,000 IN EDUCATIONAL LOANS TO OVER 350,000 AMERICANS. THESE FUNDS HAVE ALLOWED THESE INDIVIDUALS THE OPPORTUNITY TO FURTHER THEIR EDUCATION AND MEET THE RISING COST OF OBTAINING A HIGHER EDUCATION.TODAY, EDUCAP INC. ADMINISTERS MULTIPLE LOAN PROGRAMS AND SERVICES APPROXIMATELY $256,000,000 IN EDUCATIONAL LOANS FOR OVER 24,400 STUDENTS.IN ORDER TO RECEIVE A LOAN, THE STUDENT MUST BE ACCEPTED FOR ENROLLMENT FULL TIME OR PART TIME IN AN ACCREDITED COLLEGE, UNIVERSITY OR PRIVATE SECONDARY SCHOOL APPROVED BY EDUCAP INC. FOR THE LOAN PROGRAM UNDER WHICH THE APPLICATION IS BEING MADE.THE BORROWER OR COSIGNER MUST:BE CREDIT WORTHY AND BE A U.S. CITIZEN OR PERMANENT RESIDENT ALIEN OR HAVE A CREDITWORTHY COSIGNER WHO IS A U.S. CITIZEN OR PERMANENT RESIDENT ALIEN.BE 18 YEARS OF AGE OR OLDER AT THE TIME OF APPLICATION (19 IN ALABAMA AND NEBRASKA, 21 IN MISSISSIPPI AND PUERTO RICO).HAVE NO ADVERSE PUBLIC RECORDS (E.G., COLLECTIONS, TAX LIENS, ETC.) ON THEIR CREDIT REPORTS.HAVE AN ACCEPTABLE BANKRUPTCY SCORE ASSIGNED BY A CREDIT REPORTING AGENCY.HAVE AN ACCEPTABLE CREDIT SCORE (AS DETERMINED BY EDUCAP INC.'S CREDIT SCORING MODEL) FOR THE LOAN PROGRAM UNDER WHICH THE APPLICATION IS BEING MADE.HAVE NEVER DEFAULTED ON A STUDENT LOAN.SUBMIT INCOME VERIFICATION DOCUMENTS.MAXIMUM LOAN AMOUNTS ARE BASED ON:SCHOOL COSTSINCOME AND DEBT TO INCOME RATIO | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $3,028,803 | ExpenseAmt |
| Grant | $3,028,803 | GrantAmt |
| Desc | TO MAKE GRANTS TO OTHER 501(C)(3) ORGANIZATIONS IN FURTHERANCE OF ITS MISSION, FOCUSED UPON FOSTERING AN EDUCATED CITIZENRY THROUGH SUPPORT OF EDUCATION, THE ARTS, RESEARCH AND A VARIETY OF OTHER CHARITABLE AND EDUCATIONAL ACTIVITIES.DURING ITS FISCAL YEAR ENDING SEPTEMBER 30, 2016, EDUCAP INC. MADE GRANTS TOTALING $3,028,803 AND PAID OUT $3,550,000 IN CASH CONTRIBUTIONS TO 21 DIFFERENT CHARITABLE ORGANIZATIONS EXEMPT FROM FEDERAL INCOME TAXATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Expenses | $10,613,061 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (1) | DescribedInSection501c3Ind |
| Schedule B Required | 0 | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Lobbying Activities | 0 | LobbyingActivitiesInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Temp Or Permanent Endowments | 0 | TempOrPermanentEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | Yes (1) | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | Yes (1) | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | 0 | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | 0 | PYExcessBenefitTransInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | Yes (1) | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | Yes (1) | BusinessRlnWithFamMemInd |
| Business Rln With Officer Ent | Yes (1) | BusinessRlnWithOfficerEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | Yes (1) | DisregardedEntityInd |
| Related Entity | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | 0 | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 87 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 22 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | Yes (1) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (1) | Form990TFiledInd |
| Foreign Financial Account | Yes (1) | ForeignFinancialAccountInd |
| Foreign Country | CJ | ForeignCountryCd |
| Foreign Country | CA | ForeignCountryCd |
| Foreign Country | EI | ForeignCountryCd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | 0 | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | 0 | PayPremiumsPrsnlBnftCntrctInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 6 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 4 | IndependentVotingMemberCnt |
| Family Or Business Rln | Yes (1) | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | 0 | MembersOrStockholdersInd |
| Election Of Board Members | 0 | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | EDUCAP INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 7036744718 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 45610 WOODLAND ROAD SUITE 440 | AddressLine1Txt |
| City | STERLING | CityNm |
| State Abbreviation | VA | StateAbbreviationCd |
| ZIP | 20166 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (12 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|
| CATHERINE REYNOLDS | |||||||
| CHAIRMAN & CEO | 40.00 | Yes (X) | Yes (X) | $671,547 | $0 | $49,583 | |
| WAYNE REYNOLDS | |||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| JOSEPH RALSTON | |||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| WILLIAM SESSIONS | |||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| STEPHEN GLOVER | |||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| MARGERY KRAUS | |||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| MATTHEW MURRAY | |||||||
| CHIEF FINANCIAL OFFICER | 50.00 | Yes (X) | $320,361 | $0 | $39,221 | ||
| PATRICIA JEAVONS | |||||||
| CONTROLLER | 40.00 | $163,751 | $0 | $18,432 | Yes (X) | ||
| MARCUS MAIORCA | |||||||
| VICE PRESIDENT OF PORTFOLI | 40.00 | $142,884 | $0 | $21,955 | Yes (X) | ||
| MICHAEL WARE | |||||||
| VICE PRESIDENT OF OPERATIO | 40.00 | $142,770 | $0 | $22,137 | Yes (X) | ||
| VANESSA MOORE | |||||||
| EXECUTIVE ASSISTANT TO CHA | 40.00 | $117,004 | $0 | $12,468 | Yes (X) | ||
| ETHEL TERRADO-LOWE | |||||||
| DIRECTOR OF NEW MEDIA & DE | 40.00 | $118,524 | $0 | $21,208 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $1,676,841 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $185,004 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 7 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (4 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| FISERV | |||||
| 75 REMITTANCE DR STE 6955 | CHICAGO | IL | 606756955 | PROCESSING SERVICES | $1,005,502 |
| CREDIT CONTROL LLC | |||||
| 5757 PHANTOM DR STE 330 | HAZELWOOD | MO | 63042 | COLLECTION SERVICES | $130,646 |
| WILLIAMS & CONNOLLY LLP | |||||
| 725 12TH ST NW | WASHINGTON | DC | 20005 | LEGAL SERVICES | $124,510 |
| SQUAR MILNER LLP | |||||
| 4100 NEWPORT PLACE DR STE 600 | NEWPORT BEACH | CA | 92660 | AUDIT AND TAX SERVICES | $121,007 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 4 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| INTEREST ON LOANS | 525990 | $10,618,861 | $10,618,861 |
| SALE OF FUTURE STUDENT LOAN REV | 525990 | $2,472,438 | $2,472,438 |
| ADMINISTRATION FEES | 525990 | $1,534,055 | $1,534,055 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $14,625,354 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $90,195 | TotalRevenueColumnAmt |
| Unrelated Business Revenue | $83,904 | UnrelatedBusinessRevenueAmt |
| Exclusion | $6,291 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | REIMBURSED EXPENSES | Desc |
| Business | 541900 | BusinessCd |
| Total Revenue Column | $201,928 | TotalRevenueColumnAmt |
| Exclusion | $201,928 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $201,928 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $14,917,477 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $14,625,354 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $83,904 | UnrelatedBusinessRevenueAmt |
| Exclusion | $208,219 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,028,803 | TotalAmt |
| Program Services | $3,028,803 | ProgramServicesAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,158,426 | TotalAmt |
| Program Services | $926,741 | ProgramServicesAmt |
| Management And General | $231,685 | ManagementAndGeneralAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,309,199 | TotalAmt |
| Program Services | $997,440 | ProgramServicesAmt |
| Management And General | $311,759 | ManagementAndGeneralAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $92,235 | TotalAmt |
| Program Services | $70,271 | ProgramServicesAmt |
| Management And General | $21,964 | ManagementAndGeneralAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $346,413 | TotalAmt |
| Program Services | $263,922 | ProgramServicesAmt |
| Management And General | $82,491 | ManagementAndGeneralAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $139,156 | TotalAmt |
| Program Services | $106,019 | ProgramServicesAmt |
| Management And General | $33,137 | ManagementAndGeneralAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $442,794 | TotalAmt |
| Program Services | $418,661 | ProgramServicesAmt |
| Management And General | $24,133 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $122,307 | TotalAmt |
| Management And General | $122,307 | ManagementAndGeneralAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $101,046 | TotalAmt |
| Management And General | $101,046 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $54,812 | TotalAmt |
| Program Services | $49,737 | ProgramServicesAmt |
| Management And General | $5,075 | ManagementAndGeneralAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $67,545 | TotalAmt |
| Program Services | $51,461 | ProgramServicesAmt |
| Management And General | $16,084 | ManagementAndGeneralAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $49,844 | TotalAmt |
| Program Services | $37,975 | ProgramServicesAmt |
| Management And General | $11,869 | ManagementAndGeneralAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $276,494 | TotalAmt |
| Program Services | $210,653 | ProgramServicesAmt |
| Management And General | $65,841 | ManagementAndGeneralAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $193,374 | TotalAmt |
| Program Services | $147,326 | ProgramServicesAmt |
| Management And General | $46,048 | ManagementAndGeneralAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $868,863 | TotalAmt |
| Program Services | $868,863 | ProgramServicesAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $33,688 | TotalAmt |
| Program Services | $25,666 | ProgramServicesAmt |
| Management And General | $8,022 | ManagementAndGeneralAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $118,480 | TotalAmt |
| Management And General | $118,480 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt |
|---|---|---|---|
| COLLECTION FEES | $1,733,592 | $1,733,592 | $0 |
| SERVICING FEES | $1,148,039 | $1,148,039 | $0 |
| PROGRAM SUPPORT | $210,886 | $210,886 | $0 |
| PROVISION FOR CREDIT LO | $209,697 | $209,697 | $0 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $119,816 | TotalAmt |
| Program Services | $107,309 | ProgramServicesAmt |
| Management And General | $12,507 | ManagementAndGeneralAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $11,825,509 | TotalAmt |
| Program Services | $10,613,061 | ProgramServicesAmt |
| Management And General | $1,212,448 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $970 | BOYAmt |
| EOY | $970 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $12,838,641 | BOYAmt |
| EOY | $11,076,024 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $444,803 | BOYAmt |
| EOY | $3,371,532 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $114,776,661 | BOYAmt |
| EOY | $101,367,973 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $954,649 | BOYAmt |
| EOY | $896,344 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $533,084 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $164,336 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $387,812 | BOYAmt |
| EOY | $368,748 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,589,945 | BOYAmt |
| EOY | $10,974,360 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $11,594,823 | BOYAmt |
| EOY | $11,057,541 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $148,588,304 | BOYAmt |
| EOY | $139,113,492 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,646,038 | BOYAmt |
| EOY | $2,082,944 | EOYAmt |
Grants Payable GrantsPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,202,054 | BOYAmt |
| EOY | $2,680,857 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $90,379,898 | BOYAmt |
| EOY | $78,193,612 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,078,140 | BOYAmt |
| EOY | $107,782 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $96,306,130 | BOYAmt |
| EOY | $83,065,195 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows SFAS117 | Yes (X) | OrganizationFollowsSFAS117Ind |
Unrestricted Net Assets UnrestrictedNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $52,282,174 | BOYAmt |
| EOY | $56,048,297 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $52,282,174 | BOYAmt |
| EOY | $56,048,297 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $148,588,304 | BOYAmt |
| EOY | $139,113,492 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $3,091,968 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $436,172 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $237,983 | OtherChangesInNetAssetsAmt |
| Info In Schedule O Part XII | Yes (X) | InfoInScheduleOPartXIIInd |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Consolidated Basis Fincl Stmt | Yes (X) | ConsolidatedBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Publicly Supported Org509a2 | Yes (X) | PubliclySupportedOrg509a2Ind |
Gross Receipts Admissions GrossReceiptsAdmissionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $16,206,182 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $15,316,159 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $14,143,721 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $13,139,003 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $14,625,354 | CurrentTaxYearAmt |
| Total | $73,430,419 | TotalAmt |
Total509 Total509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $16,206,182 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $15,316,159 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $14,143,721 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $13,139,003 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $14,625,354 | CurrentTaxYearAmt |
| Total | $73,430,419 | TotalAmt |
Amounts Rcvd Dsqlfy Person AmountsRcvdDsqlfyPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Substantial Contributors Amt SubstantialContributorsAmtGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Subst And Dsqlfy Prsns Tot SubstAndDsqlfyPrsnsTotGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Support Total509 | $73,430,419 | PublicSupportTotal509Amt |
Gross Investment Income509 GrossInvestmentIncome509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $281,551 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $599,600 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $263,276 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $227,262 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $87,931 | CurrentTaxYearAmt |
| Total | $1,459,620 | TotalAmt |
Investment Income And UBTI InvestmentIncomeAndUBTIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $281,551 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $599,600 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $263,276 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $227,262 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $87,931 | CurrentTaxYearAmt |
| Total | $1,459,620 | TotalAmt |
Net Income From Other UBI NetIncomeFromOtherUBIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $25,855 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $54,214 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | -$17,311 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | -$25,402 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $83,904 | CurrentTaxYearAmt |
| Total | $121,260 | TotalAmt |
Other Income509 OtherIncome509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $273,873 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $283,680 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $283,680 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $290,721 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $201,928 | CurrentTaxYearAmt |
| Total | $1,333,882 | TotalAmt |
Total Support Calendar Year TotalSupportCalendarYearGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $16,787,461 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $16,253,653 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $14,673,366 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $13,631,584 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $14,999,117 | CurrentTaxYearAmt |
| Total | $76,345,181 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Support CY509 | 0.96180 | PublicSupportCY509Pct |
| Public Support PY509 | 0.96020 | PublicSupportPY509Pct |
| Investment Income CY | 0.01910 | InvestmentIncomeCYPct |
| Investment Income PY | 0.02100 | InvestmentIncomePYPct |
| Thirty Thr Pct Suprt Tests CY509 | Yes (X) | ThirtyThrPctSuprtTestsCY509Ind |
Form990 Schedule A Part VI Form990ScheduleAPartVIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: | FormAndLineReferenceDesc |
| Explanation | REIMBURSED EXPENSES - 2011 AMOUNT: $ 273,873. 2012 AMOUNT: $ 283,680. 2013 AMOUNT: $ 283,680. 2014 AMOUNT: $ 290,721. 2015 AMOUNT: $ 201,928. | ExplanationTxt |
Schedule D IRS990ScheduleD
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $51,725 | OtherCostOrOtherBasisAmt |
| Depreciation | $35,199 | DepreciationAmt |
| Book Value | $16,526 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $453,987 | OtherCostOrOtherBasisAmt |
| Depreciation | $107,877 | DepreciationAmt |
| Book Value | $346,110 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $27,372 | OtherCostOrOtherBasisAmt |
| Depreciation | $21,260 | DepreciationAmt |
| Book Value | $6,112 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $368,748 | TotalBookValueLandBuildingsAmt |
Other Securities OtherSecuritiesGrp (4 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| HEDGED EQUITY | $8,564,490 | F |
| INVESTMENTS IN PRIVATE EQUITY PARTNERSHIPS | $1,742,248 | F |
| INVESTMENTS IN REAL ESTATE LIMITED PARTNERSHIP | $730,499 | F |
| ABSOLUTE RETURN | $20,304 | F |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Securities | $11,057,541 | TotalBookValueSecuritiesAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (3 entries)
| DescDesc | AmtAmt |
|---|---|
| RESERVE FOR PURCHASE OF DEFAULTED LOANS | $70,714 |
| PROGRAM RELATED INTEREST RATE SWAP INSTRUMENT | $7,840 |
| CAPITALIZED LEASE LIABILITY | $29,228 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $107,782 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $15,389,704 | TotalRevEtcAuditedFinclStmtAmt |
| Net Unrealized Gains Invst | $436,172 | NetUnrealizedGainsInvstAmt |
| Other Revenue | $237,983 | OtherRevenueAmt |
| Revenue Not Reported | $674,155 | RevenueNotReportedAmt |
| Revenue Subtotal | $14,715,549 | RevenueSubtotalAmt |
| Other Revenues Not Included | $201,928 | OtherRevenuesNotIncludedAmt |
| Revenue Not Reported Fincl Stmt | $201,928 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $14,917,477 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $11,623,581 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $11,623,581 | ExpensesSubtotalAmt |
| Other Expenses Not Included | $201,928 | OtherExpensesNotIncludedAmt |
| Expenses Not Rpt Fincl Stmt | $201,928 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $11,825,509 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (4 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART X, LINE 2: | THE COMPANY IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER THE PROVISIONS OF IRC SECTION 501(C)(3), HOWEVER, ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN AND RECOGNIZE A TAX LIABILITY (OR ASSET) IF THE ORGANIZATION HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE INTERNAL REVENUE SERVICE ("IRS"). MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE COMPANY, AND HAS CONCLUDED AS OF SEPTEMBER 30, 2016 AND 2015, THERE ARE NO POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF THE LIABILITY (OR ASSET) OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE COMPANY IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS AND COULD BE SUBJECT TO INCOME OR EXCISE TAXES IF CERTAIN ISSUES WERE FOUND BY THE IRS THAT COULD RESULT IN THE DISQUALIFICATION OF THE COMPANY'S TAX-EXEMPT STATUS; HOWEVER, AS OF SEPTEMBER 30, 2016, THERE ARE NO AUDITS IN PROGRESS FOR ANY TAX PERIODS. |
| PART XI, LINE 2D - OTHER ADJUSTMENTS: | UNREALIZED GAIN ON PROGRAM RELATED INTEREST RATE SWAP INSTRUMENT 237,983. |
| PART XI, LINE 4B - OTHER ADJUSTMENTS: | MISCELLANEOUS INCOME TREATED AS CONTA EXPENSE ON FINANCIAL STATMENTS 201,928. |
| PART XII, LINE 4B - OTHER ADJUSTMENTS: | MISCELLANEOUS INCOME TREATED AS CONTRA EXPENSE ON FINANCIAL STATMENTS 201,928. |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable (12 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Recipient EINRecipientEIN | IRC SectionIRCSectionDesc | Cash GrantCashGrantAmt | Purpose Of GrantPurposeOfGrantTxt | Address Line2USAddress/AddressLine2Txt |
|---|---|---|---|---|---|---|---|---|
| ALASKA AVIATION HERITAGE MUSEUM | ||||||||
| 4721 AIRCRAFT DRIVE | ANCHORAGE | AK | 99502 | 920071852 | 501(C)(3) | $10,000 | GENERAL SUPPORT | |
| AMERICAN ACADEMY OF ACHIEVEMENT | ||||||||
| 1222 16TH STREET NW | WASHINGTON | DC | 20036 | 756042129 | 501(C)(3) | $2,650,000 | GENERAL SUPPORT | |
| CENTRO NIA | ||||||||
| 1420 COLUMBIA ROAD NW | WASHINGTON | DC | 20009 | 251689720 | 501(C)(3) | $10,000 | GENERAL SUPPORT | |
| CLOSE UP FOUNDATION | ||||||||
| 1330 BRADDOCK PLACE SUITE 400 | ALEXANDRIA | VA | 22314 | 237122882 | 501(C)(3) | $20,000 | GENERAL SUPPORT | |
| FORD'S THEATRE SOCIETY | ||||||||
| 511 TENTH STREET NW | WASHINGTON | DC | 20004 | 526073157 | 501(C)(3) | $45,000 | SUPPORT OF HISTORIC FORD'S THEATRE EDUCATION INITIATIVES | |
| HARVARD UNIVERSITY KENNEDY SCHOOL OF GOVERNMENT | ||||||||
| 79 JOHN F KENNEDY ST | CAMBRIDGE | MA | 02138 | 042103580 | 501(C)(3) | $50,000 | GENERAL SUPPORT | |
| INOVA HEALTH SYSTEMS FOUNDATION | ||||||||
| 8110 GATEHOUSE RD SUITE 200E | FALLS CHURCH | VA | 22042 | 541071867 | 501(C)(3) | $10,000 | GENERAL SUPPORT | |
| JOHN F KENNEDY CENTER FOR THE PERFORMING ARTS | ||||||||
| 2700 F STREET NW | WASHINGTON | DC | 20566 | 530245017 | 501(C)(3) | $260,000 | GENERAL SUPPORT | |
| NEW YORK UNIVERSITY | ||||||||
| 726 BROADWAY 2ND FLOOR | NEW YORK | NY | 10003 | 135562308 | 501(C)(3) | $301,000 | CATHERINE B. REYNOLDS FOUNDATION FELLOWSHIPS AND GENERAL SUPPORT | |
| PANETTA INSTITUTE FOR PUBLIC POLICY | ||||||||
| 100 CAMPUS CENTER BLDG 86-E CSU | SEASIDE | CA | 93955 | 770495799 | 501(C)(3) | $12,000 | GENERAL SUPPORT | MONTEREY BAY |
| SMITHSONIAN INSTITUTION NATIONAL PORTRAIT GALLERY | ||||||||
| 750 9TH STREET NW | WASHINGTON | DC | 20001 | 530206027 | 501(C)(3) | $50,000 | GENERAL SUPPORT | |
| STANFORD UNIVERSITY | ||||||||
| 326 GALVEZ STREET | STANFORD | CA | 94305 | 941156365 | 501(C)(3) | $100,000 | GENERAL SUPPORT | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 12 | Total501c3OrgCnt |
| Total Other Org | 0 | TotalOtherOrgCnt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 2: | FormAndLineReferenceDesc |
| Explanation | EDUCAP INC. MONITORS THE USE OF FUNDS IT GRANTS TO OTHER NON-PROFIT ORGANIZATIONS IN A VARIETY OF WAYS, INCLUDING FIRST-HAND MONITORING, BOARD AFFILIATIONS, AND REPUTATIONAL AND OTHER FEEDBACK. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| First Class Or Charter Travel | Yes (X) | FirstClassOrCharterTravelInd |
| Written Policy Ref T And E Expnss | Yes (1) | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | Yes (1) | SubstantiationRequiredInd |
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| Form990 Of Other Organizations | Yes (X) | Form990OfOtherOrganizationsInd |
| Written Employment Contract | Yes (X) | WrittenEmploymentContractInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | 0 | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | 0 | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | 0 | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | 0 | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | 0 | AnyNonFixedPaymentsInd |
| Initial Contract Exception | 0 | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (5 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| CATHERINE REYNOLDS | ||||||||||||||
| CHAIRMAN & CEO | $521,975 | $0 | $140,000 | $0 | $9,572 | $0 | $24,000 | $0 | $25,583 | $0 | $721,130 | $0 | $0 | $0 |
| MATTHEW MURRAY | ||||||||||||||
| CHIEF FINANCIAL OFFICER | $249,231 | $0 | $52,500 | $0 | $18,630 | $0 | $12,462 | $0 | $26,759 | $0 | $359,582 | $0 | $0 | $0 |
| PATRICIA JEAVONS | ||||||||||||||
| CONTROLLER | $155,951 | $0 | $6,500 | $0 | $1,300 | $0 | $7,797 | $0 | $10,635 | $0 | $182,183 | $0 | $0 | $0 |
| MARCUS MAIORCA | ||||||||||||||
| VICE PRESIDENT OF PORTFOLI | $136,024 | $0 | $6,500 | $0 | $360 | $0 | $6,801 | $0 | $15,154 | $0 | $164,839 | $0 | $0 | $0 |
| MICHAEL WARE | ||||||||||||||
| VICE PRESIDENT OF OPERATIO | $136,024 | $0 | $6,500 | $0 | $246 | $0 | $6,801 | $0 | $15,336 | $0 | $164,907 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 1A | FormAndLineReferenceDesc |
| Explanation | EDUCAP INC. PROVIDES FIRST CLASS TRAVEL FOR ITS SENIOR EXECUTIVES WHEN APPROPRIATE PURSUANT TO EDUCAP INC.'S TRAVEL POLICY. | ExplanationTxt |
Schedule L IRS990ScheduleL
Bus Tr Involve Interested Prsn BusTrInvolveInterestedPrsnGrp (3 entries)
| Relationship DescriptionRelationshipDescriptionTxt | TransactionTransactionAmt | TransactionTransactionDesc | Sharing Of RevenuesSharingOfRevenuesInd |
|---|---|---|---|
| WAYNE REYNOLDS | |||
| THE AMERICAN ACADEMY OF ACHIEVEMENT'S PRESIDENT & CHAIRMAN IS MR. REYNOLDS | $2,650,000 | GRANTS ARE PROVIDED FROM EDUCAP INC. TO THE AMERICAN ACADEMY OF ACHIEVEMENT. | 0 |
| WAYNE REYNOLDS | |||
| THE AMERICAN ACADEMY OF ACHIEVEMENT'S PRESIDENT & CHAIRMAN IS MR. REYNOLDS | $76,850 | OFFICE RENT IS PAID BY EDUCAP INC. TO THE AMERICAN ACADEMY OF ACHIEVEMENT FOR OFFICE SPACE LEASED TO EDUCAP INC. | 0 |
| WAYNE REYNOLDS | |||
| THE AMERICAN ACADEMY OF ACHIEVEMENT'S PRESIDENT & CHAIRMAN IS MR. REYNOLDS | $201,928 | ACCOUNTING AND ADMINISTRATIVE SERVICES ARE PROVIDED BY EDUCAP INC. TO THE AMERICAN ACADEMY OF ACHIEVEMENT. | 0 |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (10 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 2 | CATHERINE REYNOLDS AND WAYNE REYNOLDS, FAMILY RELATIONSHIP. |
| FORM 990, PART VI, SECTION B, LINE 11 | EDUCAP INC.'S FORM 990 REVIEW POLICY IS AS FOLLOWS: 1. EDUCAP INC. PROVIDES ITS BOARD OF DIRECTORS WITH EDUCAP INC.'S FORM 990 EACH YEAR PRIOR TO FILING THE FORM 990 WITH THE IRS. 2. THE AUDIT COMMITTEE OR A SPECIAL COMMITTEE OF THE BOARD OF DIRECTORS REVIEWS AND APPROVES THE FORM 990 PRIOR TO ITS FILING WITH THE IRS. TO ASSIST THE AUDIT COMMITTEE OR A SPECIAL COMMITTEE WITH ITS REVIEW OF THE FORM 990, THE AUDIT COMMITTEE OR A SPECIAL COMMITTEE MAY, AMONG OTHER THINGS, SPEAK WITH THE ACCOUNTANT WHO PREPARED THE FORM 990 AND COUNSEL WHO REVIEWED THE FORM 990. |
| FORM 990, PART VI, SECTION B, LINE 12C | MONITORING, COMPLIANCE ENFORCEMENT, AND PROCEDURES FOR ADDRESSING THE CONFLICT OF INTEREST MONITORING AND COMPLIANCE ENFORCEMENT - EACH DIRECTOR, PRINCIPAL OFFICER, KEY EMPLOYEE, AND MEMBER OF A COMMITTEE WITH BOARD-DELEGATED POWERS SHALL ANNUALLY SIGN A STATEMENT WHICH AFFIRMS THAT SUCH PERSON: A. HAS RECEIVED A COPY OF THE CONFLICTS OF INTEREST POLICY. B. HAS READ AND UNDERSTANDS THE POLICY. C. HAS AGREED TO COMPLY WITH THE POLICY. D. UNDERSTANDS THAT EDUCAP INC. IS A TAX-EXEMPT ORGANIZATION AND IN ORDER TO MAINTAIN ITS FEDERAL TAX EXEMPTION, IT MUST ENGAGE IN PRIMARILY ACTIVITIES THAT ACCOMPLISH ONE OR MORE OF ITS TAX-EXEMPT PURPOSES. TO ENSURE THAT EDUCAP OPERATES IN A MANNER CONSISTENT WITH TAX-EXEMPT PURPOSES AND DOES NOT ENGAGE IN ACTIVITIES THAT COULD JEOPARDIZE ITS TAX-EXEMPT STATUS, PERIODIC REVIEWS SHALL BE CONDUCTED. THE PERIODIC REVIEWS SHALL, AT A MINIMUM, INCLUDE THE FOLLOWING SUBJECTS: A. WHETHER COMPENSATION ARRANGEMENTS AND BENEFITS ARE REASONABLE, BASED ON COMPARABLE AND INDEPENDENT SURVEY INFORMATION, AND THE RESULT OF ARM'S LENGTH BARGAINING. B. WHETHER PARTNERSHIPS, JOINT VENTURES, AND ARRANGEMENTS WITH MANAGEMENT ORGANIZATIONS CONFORM TO EDUCAP INC.'S WRITTEN POLICIES, ARE PROPERLY RECORDED, REFLECT REASONABLE INVESTMENT OR PAYMENTS FOR GOODS AND SERVICES, FURTHER TAX-EXEMPT PURPOSES AND DO NOT RESULT IN INUREMENT, IMPERMISSIBLE PRIVATE BENEFIT OR IN AN EXCESS BENEFIT TRANSACTION. PROCEDURES FOR ADDRESSING THE CONFLICT OF INTEREST: A. AN INTERESTED PERSON MAY MAKE A PRESENTATION AT THE BOARD OR COMMITTEE MEETING, BUT AFTER THE PRESENTATION, HE/SHE SHALL LEAVE THE MEETING DURING THE DISCUSSION OF, AND THE VOTE ON, THE TRANSACTION OR ARRANGEMENT INVOLVING THE POSSIBLE CONFLICT OF INTEREST. B. THE CHAIRPERSON OF THE BOARD OR COMMITTEE SHALL, IF APPROPRIATE, APPOINT A DISINTERESTED PERSON OR COMMITTEE TO INVESTIGATE ALTERNATIVES TO THE PROPOSED TRANSACTION OR ARRANGEMENT. C. AFTER EXERCISING DUE DILIGENCE, THE BOARD OR COMMITTEE SHALL DETERMINE WHETHER EDUCAP CAN OBTAIN WITH REASONABLE EFFORTS A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT FROM A PERSON OR ENTITY THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST. D. IF A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT IS NOT REASONABLY POSSIBLE UNDER CIRCUMSTANCES NOT PRODUCING A CONFLICT OF INTEREST, THE BOARD OR COMMITTEE SHALL DETERMINE BY A MAJORITY VOTE OF THE DISINTERESTED DIRECTORS WHETHER THE TRANSACTION OR ARRANGEMENT IS IN EDUCAP'S BEST INTEREST, FOR ITS OWN BENEFIT, AND WHETHER IT IS FAIR AND REASONABLE. IN CONFORMITY WITH THE ABOVE DETERMINATION IT SHALL MAKE ITS DECISION AS TO WHETHER TO ENTER INTO THE TRANSACTION OR ARRANGEMENT. VIOLATIONS OF THE CONFLICTS OF INTEREST POLICY A. IF THE BOARD OR COMMITTEE HAS REASONABLE CAUSE TO BELIEVE THAT A MEMBER HAS FAILED TO DISCLOSE ACTUAL OR POSSIBLE CONFLICTS OF INTEREST, IT SHALL INFORM THE MEMBER OF THE BASIS FOR SUCH BELIEF AND AFFORD THE MEMBER AN OPPORTUNITY TO EXPLAIN THE ALLEGED FAILURE TO DISCLOSE. B. IF, AFTER HEARING THE MEMBER'S RESPONSE AND AFTER MAKING FURTHER INVESTIGATION AS WARRANTED BY THE CIRCUMSTANCES, THE BOARD OR COMMITTEE DETERMINES THE MEMBER HAS FAILED TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, IT SHALL TAKE APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION. |
| FORM 990, PART VI, SECTION B, LINE 15 | THE COMPENSATION FOR OFFICERS IS APPROVED ANNUALLY BY THE SPECIAL COMMITTEE OF THE BOARD OF DIRECTORS, COMPRISED OF INDEPENDENT BOARD MEMBERS. ADDITIONALLY, THE SPECIAL COMMITTEE MEMBERS UTILIZE THE EXPERTISE OF AN INDEPENDENT COMPENSATION EXPERT WHO MEETS WITH THE SPECIAL COMMITTEE MEMBERS AND PROVIDES AND REVIEWS A COMPENSATION COMPARABILITY REPORT, IN ACCORDANCE WITH BEST PRACTICES OUTLINED BY THE INTERNAL REVENUE SERVICE. |
| FORM 990, PART VI, SECTION C, LINE 19 | TO THE EXTENT REQUIRED BY LAW, THE FORM 990 AND FINANCIAL STATEMENTS ARE AVAILABLE BY REQUEST. |
| FORM 990, PART XI, LINE 9: | UNREALIZED GAIN ON PROGRAM RELATED INTEREST RATE SWAP INSTRUMENT 237,983. |
| FORM 990, PART XII, LINE 2C | EDUCAP INC. HAS AN AUDIT COMMITTEE, COMPRISED OF INDEPENDENT BOARD MEMBERS, THAT ASSUMES OVERSIGHT OF THE AUDIT. THIS PROCESS HAS NOT CHANGED FROM THE PRIOR FISCAL YEAR. |
| FORM 990, PART I, DOING BUSINESS AS: | EDUCAP INC. ALSO DOES BUSINESS USING THE NAME LOAN TO LEARN. |
| FORM 990, PART X, LINE 7 | STUDENT LOANS RECEIVABLE AS OF SEPTEMBER 30, 2016, CONSISTED OF THE FOLLOWING: STUDENT LOAN PRINCIPAL RECEIVABLE 149,204,021 DEFERRED LOAN ORIGINATION INCOME -2,383,773 ------------ 146,820,248 LESS: ALLOWANCE FOR LOAN LOSSES -45,797,191 ------------ 101,023,057 STUDENT LOAN INTEREST RECEIVABLE 403,649 LESS: ALLOWANCE FOR UNCOLLECTABLE INTEREST -58,733 ------------ STUDENT LOANS RECEIVABLE 101,367,973 ============ |
| FORM 990, PART X, LINE 23 | EDUCATION LOAN NOTES PAYABLE AS OF SEPTEMBER 30, 2016, CONSISTED OF THE FOLLOWING: SERIES 2006 AB, DUE 2031 78,299,450 LESS: ORIGINAL ISSUE DISCOUNT -105,838 ------------ TOTAL EDUCATION LOAN NOTES PAYABLE 78,193,612 ============ |
Schedule R IRS990ScheduleR
Id Disregarded Entities IdDisregardedEntitiesGrp (2 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Total IncomeTotalIncomeAmt | End Of Year AssetsEndOfYearAssetsAmt | Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt |
|---|---|---|---|---|---|---|---|---|---|
| L2L EDUCATION LOAN TRUST 2006-1 | |||||||||
| 45610 WOODLAND ROAD SUITE 440 | STERLING | VA | 20166 | 026182050 | FINANCING THE PURCHASE OF STUDENT LOANS | VA | $6,532,781 | $111,399,237 | EDUCAP INC |
| L2L EDUCATION LOAN FUNDING LLC | |||||||||
| 45610 WOODLAND ROAD SUITE 440 | STERLING | VA | 20166 | 205944194 | FINANCING THE PURCHASE OF STUDENT LOANS | VA | $0 | -$57,010 | EDUCAP INC |