2015-05-01T08:37:15-05:00 2014-06-30 KPMG LLP 666 Grand Avenue Suite 2500 Des Moines IA 503092578 990 2013-07-01 421137531 Iowa Student Loan Liquidity Corporation % Ron W Foresman IOWA 5152435626 6775 Vista Drive Suite West Des Moines IA 502669307 ERIN LACEY CFO 5152737210 2015-04-30 true Cliff FINDLAY P01074012 5152737210 2013 2016-03-07 17:11:31Z X Erin Lacey 6775 Vista Drive West Des Moines IA 502669307 69112148 false X www.studentloan.org X 1979 IA To help iowa students and families obtain the resources necessary to succeed in postsecondary education. 11 8 238 0 0 0 82730268 68885289 31554 221181 808 4376 82762630 69110846 0 0 0 0 12146596 8756458 0 0 0 80884261 61757671 93030857 70514129 -10268227 -1403283 2195691978 1975995101 1700529284 1484506405 495162694 491488696 To help Iowa students and families obtain the resources necessary to succeed in postsecondary education. false false 65010421 69110846 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, 2014, the Corporation owned and serviced loans totaling 327,719 with an outstanding balance of $1,881,354,094. 65010421 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 false false true true false false false false false false false false false false false false false false false true false false false true 170 0 true 238 true false false false false false false false false false false X 11 8 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 Christine Hensley Board Chairperson 1.0 X 20131 0 0 Robert W Sackett Board Member 1.0 X 9083 John O'Byrne Board Member 1.0 X 9581 Laurie Hempin Board Member 1.0 X 8733 Dr Tahira K Hira Board Member 1.0 X 9156 Tammy Bramley Board Member 1.0 X 13761 Dan Clute Board Member 1.0 X 11108 Adam Voigts Board Member 1.0 X 9735 Lorraine Groves Board Member 1.0 X 4652 Scott Schneidermann Board Member 1.0 X 9856 Rob Denson Board Member 1.0 X Steve McCullough President & CEO 40.0 X 359678 41704 Erin Lacey EVP & Treasurer 40.0 X 174131 28485 Mary Kay DeBolt Sr. Operations VP & Secretary 40.0 X 179126 27800 Walter Witthoff Sr. Compliance VP 40.0 X 163683 27586 Marc Hendel Sr. Researcher & Data Mgr 40.0 X 190327 29629 Chi-Ming J Lin Chief Technical Architect 40.0 X 174722 28357 Greg Nichols Sr. Pub Affairs & Comm Rel VP 40.0 X 162696 28769 Cindy Bartz CIO & Proj Mgmt VP 40.0 X 159435 31787 Ron Foresman Controller 40.0 X 154848 26377 1824442 0 270494 19 false true false Ahlers Cooney PC 100 Court Ave Suite 600 Des Moines IA 50309 Legal 284952 KPMG LLP 666 Grand Avenue Suite 2500 Des Moines IA 50309 Audit and Tax 209936 2 0 Student Loan Interest Income 522291 65227269 65227269 Other Student Loan Revenue 522291 3657920 3657920 Loan Servicing Revenue 522291 100 100 68885289 220287 220287 0 0 0 0 0 2196 1302 894 894 894 0 0 0 MISCELLANEOUS INCOME 522291 4376 4376 4376 69110846 69110846 0 0 0 0 1824442 1824442 0 4156417 4156417 842117 671165 170952 1139156 1039614 99542 794326 465878 328448 0 473929 473929 369900 369900 147900 147900 0 0 0 287259 287259 1060262 1060262 698892 698892 0 772333 772333 82874 82874 0 42544 42544 34613402 34613402 0 1751399 1751399 0 Service Charges & Fees 11177524 11177524 Consolidated Rebate Fee 5193763 5193763 Provision for Loan Losses 1689460 1689460 DEBT RELATED EXPENSES 693431 693431 2702799 2217703 485096 70514129 65010421 5503708 0 2262590 2655252 187806260 127934413 0 0 1906265024 1725336193 0 0 0 0 0 0 0 0 10762514 1007297 35190797 21873674 12273192 13317123 29502028 67006533 961458 6089476 0 0 0 0 45858912 32648814 2195691978 1975995101 13316451 9179992 0 0 12968928 128460321 594541822 462487962 0 0 0 0 1077173788 882180212 0 0 2528295 2197918 1700529284 1484506405 X 272491838 254543136 0 0 222670856 236945560 495162694 491488696 2195691978 1975995101 X -1403283 3775901 -36985264 30938648 X false true X true true true X 35139 0 0 0 0 35139 114486755 105200952 70025366 82729068 68885289 441327430 0 0 0 114521894 105200952 70025366 82729068 68885289 441362569 0 0 0 441362569 561360 90316 28783 31236 220287 931982 0 561360 90316 28783 31236 220287 931982 0 61664 228696 1200 2326 5270 299156 115144918 105519964 70055349 82762630 69110846 442593707 0.99722 0.99500 0.00211 0.00450 X 147900 147900 70366229 70514129 1000000 250000 1000000 1000000 1000000 1000000 4000000 6000000 130330 124356 139575 147900 542161 250000 250000 250000 250000 1000000 1500000 3129449 3129449 7122279 1623678 5498601 7093601 6273847 819754 17845468 13976149 3869319 13317123 0 ACCRUED INTEREST PAYABLE 2197918 2197918 88777520 3775901 15890773 19666674 69110846 69110846 55466254 -15047875 -15047875 70514129 70514129 Part XI, Line 2D FINANCIAL STATEMENT ELIMINATION -9,379,023 GAAP VALUATION LOSS RECOVERY 8,466 REVENUE OF TAXABLE SUBSIDIARY 25,261,330 Part XII, Line 2D FINANCIAL STATEMENT ELIMINATION -9,373,023 AMORTIZATION OF BONDS EXTINGUISHMENT GAIN -31,802,256 EXPENSES OF TAXABLE SUBSIDIARY 26,133,313 X X X false false false false false false false false false Steve McCullough President & CEO 359678 27500 14204 401382 Erin Lacey EVP & Treasurer 174131 16578 11907 202616 Mary Kay DeBolt Sr. Operations VP & Secretary 179126 19881 7919 206926 Walter Witthoff Sr. Compliance VP 163683 18524 9062 191269 Marc Hendel Sr. Researcher & Data Mgr 190327 21006 8623 219956 Chi-Ming J Lin Chief Technical Architect 174722 19291 9066 203079 Greg Nichols Sr. Pub Affairs & Comm Rel VP 162696 17984 10785 191465 Cindy Bartz CIO & Proj Mgmt VP 159435 17786 14001 191222 Ron Foresman Controller 154848 12402 13975 181225 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 A 0 0 231848004 0 0 0 0 0 0 0 0 0 2010 true false true true B 0 0 419500000 0 0 0 0 0 0 0 0 0 2012 true false true true A false false false false 0 false false false true B false false false false 0 false false false true A false true false false false false 0 false 0 false false B false true false false false true Morgan Stanley 19. false false false 0 false false A true B 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 31,802,165 Revenue of Taxable Subsidiary 25,261,330 Expenses of Taxable Subsidiary -26,133,313 GAAP Valuation loss recovery 8,466 Aspire Resources Inc 6775 Vista Drive West Des Moines IA 50266 421520183 Loan Servicing IA ISLLC C Corp -871982 8105584 1.00000 false false true false false false false false false false false false false false true true false false false false Aspire Resources Inc b 6000000 GAAP Aspire Resources Inc n Aspire Resources Inc o