THE CATHERINE B REYNOLDS FOUNDATION INC: Form 990, tax year 2010
View the entire original 990 at ProPublica ↗
- Organization
- THE CATHERINE B REYNOLDS FOUNDATION INC (EIN 52-1509402)
- Tax period
- 2010-10-01 to 2011-09-30
- Filed
- 2012-08-14
- IRS object ID
- 201222279349301807
- Schema version
- 2010v3.4
- 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) |
|---|---|---|
| Timestamp | 2012-08-14T11:18:37-05:00 | Timestamp |
| Tax Period End Date | 2011-09-30 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SQUAR MILNER PETERSON ET AL LLP | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 15760 VENTURA BLVD SUITE 1150 | AddressLine1 |
| City | ENCINO | City |
| State | CA | State |
| ZIP Code | 91436 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2010-10-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 521509402 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | EDUCAP INC | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | EDUC | NameControl |
| Phone | 7036744718 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 45610 WOODLAND ROAD NO 370 | AddressLine1 |
| City | STERLING | City |
| State | VA | State |
| ZIP Code | 20166 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | MATTHEW MURRAY | Name |
| Title | CHIEF FINANCIAL OFFICER | Title |
| Phone | 7036744718 | Phone |
| Date Signed | 2012-08-08 | DateSigned |
| Authorize Third Party | 1 | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | WILLIAM F WOLF | Name |
| Phone | 8189812600 | Phone |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2010 | TaxYear |
| Build TS | 2016-02-24 21:20:13Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Change | X | AddressChange |
Doing Business As DoingBusinessAs
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CATHERINE B REYNOLDS FOUNDATION | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Principal Officer Person | CATHERINE B REYNOLDS | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 45610 WOODLAND ROAD NO 370 | AddressLine1 |
| City | STERLING | City |
| State | VA | State |
| ZIP Code | 20166 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 19291467 | GrossReceipts |
| Group Return For Affiliates | 0 | GroupReturnForAffiliates |
| Organization501c3 | X | Organization501c3 |
| Web Site | WWW.EDUCAP.ORG | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 1986 | YearFormation |
| State Legal Domicile | MD | StateLegalDomicile |
| Activity Or Mission Description | SEE PART III, LINE 1 AND 4A. | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 6 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 4 | NbrIndependentVotingMembers |
| Total Nbr Employees | 28 | TotalNbrEmployees |
| Total Nbr Volunteers | 0 | TotalNbrVolunteers |
| Total Gross UBI | 58631 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | 7196 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Prior Year | 0 | ContributionsGrantsPriorYear |
| Contributions Grants Current Year | 0 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 18236842 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 16755506 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 2250938 | InvestmentIncomePriorYear |
| Investment Income Current Year | 2281702 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 257997 | OtherRevenuePriorYear |
| Other Revenue Current Year | 254259 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 20745777 | TotalRevenuePriorYear |
| Total Revenue Current Year | 19291467 | TotalRevenueCurrentYear |
| Grants And Similar Amnts Prior Year | 3382777 | GrantsAndSimilarAmntsPriorYear |
| Grants And Similar Amnts CY | 3315679 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members Prior Year | 0 | BenefitsPaidToMembersPriorYear |
| Benefits Paid To Members CY | 0 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 3596902 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 3328508 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp Prior Year | 0 | TotalProfFundrsngExpPriorYear |
| Total Prof Fundrsng Exp CY | 0 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 0 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 12132462 | OtherExpensePriorYear |
| Other Expenses Current Year | 13026082 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 19112141 | TotalExpensesPriorYear |
| Total Expenses Current Year | 19670269 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | 1633636 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | -378802 | RevenuesLessExpensesCY |
| Total Assets BOY | 262660642 | TotalAssetsBOY |
| Total Assets EOY | 233020365 | TotalAssetsEOY |
| Total Liabilities BOY | 221634523 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 192820457 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 41026119 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 40199908 | NetAssetsOrFundBalancesEOY |
| Info In Schedule O Part III | X | InfoInScheduleOPartIII |
| Mission Description | TO HELP STUDENTS GAIN ACCESS TO FUNDS TO PAY FOR COLLEGE COSTS AND TO SUPPORT A VARIETY OF PHILANTHROPIC PROGRAMS. | MissionDescription |
| Significant New Program Services | 0 | SignificantNewProgramServices |
| Significant Change | 0 | SignificantChange |
| Expense | 15001354 | Expense |
| Revenue | 16755506 | Revenue |
| Description | 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 ACHIEVEMENTS:A. 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 $405,000,000 IN EDUCATIONAL LOANS FOR OVER 40,000 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 RATIOB. DURING ITS FISCAL YEAR ENDING SEPTEMBER 30, 2011, EDUCAP INC. HAS MADE GRANTS TOTALING $3,315,678 AND HAS PAID OUT $4,221,500 IN CASH CONTRIBUTIONS TO 23 DIFFERENT CHARITABLE ORGANIZATIONS EXEMPT FROM FEDERAL INCOME TAXATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. | Description |
Activity2 Activity2
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | 3315679 | Expense |
| Grants | 3315679 | Grants |
| Description | 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. | Description |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Expense | 18317033 | TotalProgramServiceExpense |
| Described In501 C3 | 1 | DescribedIn501C3 |
| Schedule B Required | 0 | ScheduleBRequired |
| Political Activities | 0 | PoliticalActivities |
| Lobbying Activities | 0 | LobbyingActivities |
| Donor Advised Funds | 0 | DonorAdvisedFunds |
| Conservation Easements | 0 | ConservationEasements |
| Collections Of Art | 0 | CollectionsOfArt |
| Credit Counseling | 0 | CreditCounseling |
| Term Or Permanent Endowments | 0 | TermOrPermanentEndowments |
| Report Land Bldg Equip | 1 | ReportLandBldgEquip |
| Report Invest Oth Securities | 1 | ReportInvestOthSecurities |
| Report Prog Rel Invest | 0 | ReportProgRelInvest |
| Report Other Assets | 0 | ReportOtherAssets |
| Report Other Liabilities | 1 | ReportOtherLiabilities |
| Report Fin48 Footnote | 1 | ReportFin48Footnote |
| Independent Audit Financial Stmt | 1 | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | 0 | ConsolidatedAuditFinancialStmt |
| School | 0 | School |
| Foreign Office | 0 | ForeignOffice |
| Foreign Activities | 0 | ForeignActivities |
| More Than5000 K To Organizations | 0 | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividuals |
| Professional Fundraising | 0 | ProfessionalFundraising |
| Fundraising Activities | 0 | FundraisingActivities |
| Gaming | 0 | Gaming |
| Hospital | 0 | Hospital |
| Grants To Organizations | 1 | GrantsToOrganizations |
| Grants To Individuals | 0 | GrantsToIndividuals |
| Schedule J Required | 1 | ScheduleJRequired |
| Tax Exempt Bonds | 0 | TaxExemptBonds |
| Excess Benefit Transaction | 0 | ExcessBenefitTransaction |
| Prior Excess Benefit Transaction | 1 | PriorExcessBenefitTransaction |
| Loan To Officer Or DQP | 0 | LoanToOfficerOrDQP |
| Grant To Related Person | 0 | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | 1 | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | 1 | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | 1 | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | 0 | DeductibleNonCashContributions |
| Deductible Contributions Of Art | 0 | DeductibleContributionsOfArt |
| Terminated | 0 | Terminated |
| Partial Liquidation | 0 | PartialLiquidation |
| Disregarded Entity | 1 | DisregardedEntity |
| Related Entity | 0 | RelatedEntity |
| Related Org Controlled Entity | 0 | RelatedOrgControlledEntity |
| Transaction Related Entity | 0 | TransactionRelatedEntity |
| Transfers To Exempt Non Chrtbl Org | 0 | TransfersToExemptNonChrtblOrg |
| Activities Conducted Partnership | 0 | ActivitiesConductedPartnership |
| Schedule O Required | 1 | ScheduleORequired |
| Number Forms Transmitted With1096 | 96 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Compliance With Backup Witholding | 1 | ComplianceWithBackupWitholding |
| Number Of Employees | 28 | NumberOfEmployees |
| Employment Tax Returns Filed | 1 | EmploymentTaxReturnsFiled |
| Unrelated Business Income | 1 | UnrelatedBusinessIncome |
| Form990-T Filed | 1 | Form990-TFiled |
| Foreign Financial Account | 1 | ForeignFinancialAccount |
| Name Of Foreign Country | CJ | NameOfForeignCountry |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTrans |
| Taxable Party Notification | 0 | TaxablePartyNotification |
| Non Deductible Contributions | 0 | NonDeductibleContributions |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributions |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOf |
| Funds To Pay Premiums | 0 | FundsToPayPremiums |
| Premiums Paid | 0 | PremiumsPaid |
| Indoor Tanning Services | 0 | IndoorTanningServices |
| Info In Schedule O Part VI | X | InfoInScheduleOPartVI |
| Nbr Voting Governing Body Members | 6 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 4 | NumberIndependentVotingMembers |
| Family Or Business Relationship | 1 | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | 0 | DelegationOfManagementDuties |
| Changes To Organizing Docs | 0 | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuse |
| Members Or Stockholders | 0 | MembersOrStockholders |
| Election Of Board Members | 0 | ElectionOfBoardMembers |
| Decisions Subject To Approval | 0 | DecisionsSubjectToApproval |
| Minutes Of Governing Body | 1 | MinutesOfGoverningBody |
| Minutes Of Committees | 1 | MinutesOfCommittees |
| Officer Mailing Address | 0 | OfficerMailingAddress |
| Local Chapters | 0 | LocalChapters |
| Form990 Provided To Governing Body | 1 | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | 1 | ConflictOfInterestPolicy |
| Annual Disclosure Covered Persons | 1 | AnnualDisclosureCoveredPersons |
| Regular Monitoring Enforcement | 1 | RegularMonitoringEnforcement |
| Whistleblower Policy | 1 | WhistleblowerPolicy |
| Document Retention Policy | 1 | DocumentRetentionPolicy |
| Compensation Process CEO | 1 | CompensationProcessCEO |
| Compensation Process Other | 1 | CompensationProcessOther |
| Investment In Joint Venture | 0 | InvestmentInJointVenture |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
Name Business NameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | EDUCAP INC | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Telephone Number | 7036744718 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 45610 WOODLAND ROAD SUITE 370 | AddressLine1 |
| City | STERLING | City |
| State | VA | State |
| ZIP Code | 20166 | ZIPCode |
Form990 Part VII Section A Form990PartVIISectionA (12 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Individual Trustee Or DirectorIndividualTrusteeOrDirector | OfficerOfficer | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation | Highest Compensated EmployeeHighestCompensatedEmployee |
|---|---|---|---|---|---|---|---|
| CATHERINE REYNOLDS | |||||||
| CHAIRMAN, DIRECTOR & CEO | 50.00 | X | X | 561094 | 0 | 46827 | |
| WAYNE REYNOLDS | |||||||
| DIRECTOR | 2.00 | X | 0 | 0 | 0 | ||
| JOSEPH RALSTON | |||||||
| DIRECTOR | 2.00 | X | 0 | 0 | 0 | ||
| WILLIAM SESSIONS | |||||||
| DIRECTOR | 2.00 | X | 0 | 0 | 0 | ||
| STEPHEN GLOVER | |||||||
| DIRECTOR | 2.00 | X | 0 | 0 | 0 | ||
| MARGERY KRAUS | |||||||
| DIRECTOR | 2.00 | X | 0 | 0 | 0 | ||
| MATTHEW MURRAY | |||||||
| CHIEF FINANCIAL OFFICER | 50.00 | X | 225666 | 0 | 35373 | ||
| ALI ERSHEID | |||||||
| CHIEF OPERATING OFFICER | 50.00 | X | 209142 | 0 | 35415 | ||
| STEVEN GOLSCH | |||||||
| SVP HUMAN RESOURCES | 40.00 | 162578 | 0 | 16880 | X | ||
| JOHN EGNER | |||||||
| SENIOR SYSTEMS ADMINISTRAT | 40.00 | 106844 | 0 | 6420 | X | ||
| PATRICIA JEAVONS | |||||||
| CONTROLLER | 40.00 | 130471 | 0 | 25172 | X | ||
| MARK MAIORCA | |||||||
| DIRECTOR OF DEFAULT MANAGE | 40.00 | 110723 | 0 | 688 | X | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 1506518 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 0 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 166775 | TotalOtherCompensation |
| Number Individuals GT100 K | 7 | NumberIndividualsGT100K |
| Formers Listed | 0 | FormersListed |
| Total Comp GT150 K | 1 | TotalCompGT150K |
| Compensation From Other Sources | 0 | CompensationFromOtherSources |
Contractor Compensation ContractorCompensation (4 entries)
| Address Line1AddressOfContractor/AddressUS/AddressLine1 | CityAddressOfContractor/AddressUS/City | StateAddressOfContractor/AddressUS/State | ZIP CodeAddressOfContractor/AddressUS/ZIPCode | Description Of ServicesDescriptionOfServices | CompensationCompensation |
|---|---|---|---|---|---|
| FISERV | |||||
| 75 REMITTANCE DR STE 6955 | CHICAGO | IL | 606756955 | PROCESSING SERVICES | 936314 |
| JAFFE RAITT HEUER & WEISS | |||||
| 27777 FRANKLIN RD STE 2500 | SOUTHFIELD | MI | 48034 | LEGAL SERVICES | 352618 |
| CREDIT CONTROL LLC | |||||
| 5757 PHANTOM DR STE 330 | HAZELWOOD | MO | 63042 | COLLECTION SERVICES | 207303 |
| WHITE ZUCKERMAN WARSAVSY LUNA WOLF & | |||||
| 14455 VENTURA BLVD THIRD FLOOR | SHERMAN OAKS | CA | 94123 | AUDIT AND TAX SERVICES | 206121 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of Contractors GT100 K | 4 | NumberOfContractorsGT100K |
Program Service Revenue ProgramServiceRevenue (2 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome |
|---|---|---|---|
| INTEREST ON LOANS | 525990 | 13854025 | 13854025 |
| ADMINISTRATION FEES | 525990 | 2901481 | 2901481 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 16755506 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 2281702 | TotalRevenueColumn |
| Unrelated Business Revenue | 58631 | UnrelatedBusinessRevenue |
| Exclusion | $2,223,071 | ExclusionAmount |
Other Revenue Misc OtherRevenueMisc
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | REIMBURSED EXPENSES | Description |
| Business Code | 541900 | BusinessCode |
| Total Revenue Column | 254259 | TotalRevenueColumn |
| Exclusion | $254,259 | ExclusionAmount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Revenue | 254259 | TotalOtherRevenue |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 19291467 | TotalRevenueColumn |
| Related Or Exempt Function Income | 16755506 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 58631 | UnrelatedBusinessRevenue |
| Exclusion | $2,477,330 | ExclusionAmount |
Grants To Domestic Orgs GrantsToDomesticOrgs
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 3315679 | Total |
| Program Services | 3315679 | ProgramServices |
Comp Current Officers Directors CompCurrentOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1098673 | Total |
| Program Services | 878938 | ProgramServices |
| Management And General | 219735 | ManagementAndGeneral |
Other Salaries And Wages OtherSalariesAndWages
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1581806 | Total |
| Program Services | 1208783 | ProgramServices |
| Management And General | 373023 | ManagementAndGeneral |
Pension Plan Contributions PensionPlanContributions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 109623 | Total |
| Program Services | 83771 | ProgramServices |
| Management And General | 25852 | ManagementAndGeneral |
Other Employee Benefits OtherEmployeeBenefits
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 372605 | Total |
| Program Services | 284735 | ProgramServices |
| Management And General | 87870 | ManagementAndGeneral |
Payroll Taxes PayrollTaxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 165801 | Total |
| Program Services | 126701 | ProgramServices |
| Management And General | 39100 | ManagementAndGeneral |
Fees For Services Legal FeesForServicesLegal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 899529 | Total |
| Program Services | 463388 | ProgramServices |
| Management And General | 436141 | ManagementAndGeneral |
Fees For Services Accounting FeesForServicesAccounting
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 162318 | Total |
| Management And General | 162318 | ManagementAndGeneral |
Fees For Services Invst Mgmnt Fees FeesForServicesInvstMgmntFees
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 56124 | Total |
| Management And General | 56124 | ManagementAndGeneral |
Fees For Services Other FeesForServicesOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 34455 | Total |
| Program Services | 12361 | ProgramServices |
| Management And General | 22094 | ManagementAndGeneral |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 112883 | Total |
| Program Services | 86262 | ProgramServices |
| Management And General | 26621 | ManagementAndGeneral |
Information Technology InformationTechnology
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 25169 | Total |
| Program Services | 19233 | ProgramServices |
| Management And General | 5936 | ManagementAndGeneral |
Occupancy Occupancy
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 387342 | Total |
| Program Services | 295997 | ProgramServices |
| Management And General | 91345 | ManagementAndGeneral |
Travel Travel
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 76849 | Total |
| Program Services | 58726 | ProgramServices |
| Management And General | 18123 | ManagementAndGeneral |
Conferences Meetings ConferencesMeetings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1955 | Total |
| Program Services | 1494 | ProgramServices |
| Management And General | 461 | ManagementAndGeneral |
Interest Interest
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1920813 | Total |
| Program Services | 1920813 | ProgramServices |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 11380 | Total |
| Program Services | 8696 | ProgramServices |
| Management And General | 2684 | ManagementAndGeneral |
Insurance Insurance
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 149677 | Total |
| Management And General | 149677 | ManagementAndGeneral |
Other Expenses OtherExpenses (5 entries)
| DescriptionDescription | TotalTotal | Program ServicesProgramServices | Management And GeneralManagementAndGeneral |
|---|---|---|---|
| PROVISION FOR CREDIT LO | 6642150 | 6642150 | |
| SERVICING FEES | 1727133 | 1727133 | |
| COLLECTION FEES | 906967 | 906967 | |
| BANK CHARGES | 110763 | 107021 | 3742 |
| EXPENSE REIMBURSEMENT | -400512 | -400512 |
All Other Expenses AllOtherExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 201087 | Total |
| Program Services | 168185 | ProgramServices |
| Management And General | 32902 | ManagementAndGeneral |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 19670269 | Total |
| Program Services | 18317033 | ProgramServices |
| Management And General | 1353236 | ManagementAndGeneral |
| Fundraising | 0 | Fundraising |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1805120 | BOY |
| EOY | 2043403 | EOY |
Savings And Temp Cash Investments SavingsAndTempCashInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 15717498 | BOY |
| EOY | 12754737 | EOY |
Accounts Receivable AccountsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 849603 | BOY |
| EOY | 681720 | EOY |
Other Notes Loans Receivable Net OtherNotesLoansReceivableNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 220103572 | BOY |
| EOY | 195573860 | EOY |
Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1564689 | BOY |
| EOY | 1475673 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Buildings Equipment Basis | 20772451 | LandBuildingsEquipmentBasis |
| Land Bldg Equipment Accum Deprec | 20422086 | LandBldgEquipmentAccumDeprec |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 345167 | BOY |
| EOY | 350365 | EOY |
Investments Pub Traded Securities InvestmentsPubTradedSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 5360576 | BOY |
| EOY | 5578146 | EOY |
Investments Other Securities InvestmentsOtherSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 16914417 | BOY |
| EOY | 14241641 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 320820 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 262660642 | BOY |
| EOY | 233020365 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 2335980 | BOY |
| EOY | 2200721 | EOY |
Grants Payable GrantsPayable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 5483156 | BOY |
| EOY | 4587334 | EOY |
Mort Notes Pybl Secured Invest Prop MortNotesPyblSecuredInvestProp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 210437506 | BOY |
| EOY | 184250075 | EOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 3377881 | BOY |
| EOY | 1782327 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 221634523 | BOY |
| EOY | 192820457 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Follow SFAS117 | X | FollowSFAS117 |
Unrestricted Net Assets UnrestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 41026119 | BOY |
| EOY | 40199908 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 41026119 | BOY |
| EOY | 40199908 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 262660642 | BOY |
| EOY | 233020365 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | X | InfoInScheduleOPartXI |
| Reconcilation Revenue Expenses | -378802 | ReconcilationRevenueExpenses |
| Reconcilation Other Changes | -447409 | ReconcilationOtherChanges |
| Info In Schedule O Part XII | X | InfoInScheduleOPartXII |
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | 0 | AccountantCompileOrReview |
| FS Audited | 1 | FSAudited |
| Audit Committee | 1 | AuditCommittee |
| Financial Statement Consolidated | X | FinancialStatementConsolidated |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequired |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Publicly Supported Org509a2 | X | PubliclySupportedOrg509a2 |
Gross Receipts From Admissions GrossReceiptsFromAdmissions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 44805765 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 34985601 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 23890046 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 18236842 | CurrentTaxYearMinus1Year |
| Current Tax Year | 16755506 | CurrentTaxYear |
| Total | 138673760 | Total |
Total509 Total509
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 44805765 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 34985601 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 23890046 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 18236842 | CurrentTaxYearMinus1Year |
| Current Tax Year | 16755506 | CurrentTaxYear |
| Total | 138673760 | Total |
Amts Recd From Disqual Persons AmtsRecdFromDisqualPersons
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Amts From Subst Contributors AmtsFromSubstContributors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Support From DQ Ps Etc SupportFromDQPsEtc
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Support Total509 | 138673760 | PublicSupportTotal509 |
Gross Investment Income509 GrossInvestmentIncome509
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 827092 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 791415 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 296156 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 319257 | CurrentTaxYearMinus1Year |
| Current Tax Year | 277194 | CurrentTaxYear |
| Total | 2511114 | Total |
Investment Income And UBTI InvestmentIncomeAndUBTI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 827092 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 791415 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 296156 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 319257 | CurrentTaxYearMinus1Year |
| Current Tax Year | 277194 | CurrentTaxYear |
| Total | 2511114 | Total |
Net Income From Other UBI NetIncomeFromOtherUBI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 30758 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 18922 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | -5698 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | -41890 | CurrentTaxYearMinus1Year |
| Current Tax Year | 58631 | CurrentTaxYear |
| Total | 60723 | Total |
Other Income509 OtherIncome509
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 236556 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 367330 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 269975 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 257997 | CurrentTaxYearMinus1Year |
| Current Tax Year | 254259 | CurrentTaxYear |
| Total | 1386117 | Total |
Total Support Total TotalSupportTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 45900171 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 36163268 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 24450479 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 18772206 | CurrentTaxYearMinus1Year |
| Current Tax Year | 17345590 | CurrentTaxYear |
| Total | 142631714 | Total |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Support Percentage509 | 0.97230 | PublicSupportPercentage509 |
| Prior Year Support Percentage | 0.97210 | PriorYearSupportPercentage |
| Investment Income Percentage | 0.01760 | InvestmentIncomePercentage |
| Prior Yr Invest Income Percentage | 0.01950 | PriorYrInvestIncomePercentage |
| Thirty Three Percnt Tests CY509 | X | ThirtyThreePercntTestsCY509 |
Schedule D IRS990ScheduleD
Leasehold Improvements LeaseholdImprovements
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 3579735 | OtherCostOrOtherBasis |
| Depreciation | 3579735 | Depreciation |
| Book Value | 0 | BookValue |
Equipment Equipment
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 6849919 | OtherCostOrOtherBasis |
| Depreciation | 6501744 | Depreciation |
| Book Value | 348175 | BookValue |
Other Land Buildings OtherLandBuildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 10342797 | OtherCostOrOtherBasis |
| Depreciation | 10340607 | Depreciation |
| Book Value | 2190 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 350365 | TotalOfBookValueLandBuildings |
Other Securities OtherSecurities (4 entries)
| DescriptionDescription | Book ValueBookValue | Method Of ValuationMethodOfValuation |
|---|---|---|
| HEDGED EQUITY | 4717916 | F |
| INVESTMENTS IN PRIVATE EQUITY PARTNERSHIPS | 7999209 | F |
| INVESTMENTS IN REAL ESTATE LIMITED PARTNERSHIP | 1334488 | F |
| ABSOLUTE RETURN | 190028 | F |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Securities | 14241641 | TotalOfBookValueSecurities |
Other Liabilities OtherLiabilities (2 entries)
| DescriptionDescription | AmountAmount |
|---|---|
| RESERVE FOR PURCHASE OF DEFAULTED LOANS | $1,598,675 |
| RESTRUCTURING RESERVE | $183,652 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Amounts | 1782327 | TotalOfAmounts |
| Total Revenue | 19291467 | TotalRevenue |
| Total Expenses | 19670269 | TotalExpenses |
| Excess Or Deficit For Year | -378802 | ExcessOrDeficitForYear |
| Net Unrealized GL On Investments | -504710 | NetUnrealizedGLOnInvestments |
| Other | $57,301 | OtherAmount |
| Total Adjustments | -447409 | TotalAdjustments |
| Excess Or Deficit Per FS | -826211 | ExcessOrDeficitPerFS |
| Tot Revenue Etc Audited Fincl Stmt | 18589799 | TotRevenueEtcAuditedFinclStmt |
| Net Unrealized Gains Investments | -504710 | NetUnrealizedGainsInvestments |
| Other Revenues | 610564 | OtherRevenues |
| Revenue Not Rptd F990 | 105854 | RevenueNotRptdF990 |
| Revenue Subtotal | 18483945 | RevenueSubtotal |
| Other Revenues Not Included | 807522 | OtherRevenuesNotIncluded |
| Revenue Not Rptd On Fin Stmt | 807522 | RevenueNotRptdOnFinStmt |
| Total Revenue Per Form990 | 19291467 | TotalRevenuePerForm990 |
| Tot Expenses Etc Audited Fincl Stmt | 19416010 | TotExpensesEtcAuditedFinclStmt |
| Expenses Not Rptd F990 | 0 | ExpensesNotRptdF990 |
| Expenses Subtotal | 19416010 | ExpensesSubtotal |
| Other Expenses Not Included | 254259 | OtherExpensesNotIncluded |
| Expenses Not Rptd On Fin Stmt | 254259 | ExpensesNotRptdOnFinStmt |
| Total Expenses Per Form990 | 19670269 | TotalExpensesPerForm990 |
Form990 Schedule D Part XIV Form990ScheduleDPartXIV (3 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: | PART X: | 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 EDUCAP INC., AND HAS CONCLUDED AS OF SEPTEMBER 30, 2011, 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. EDUCAP INC. 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 EDUCAP INC.'S TAX-EXEMPT STATUS. AS OF SEPTEMBER 30, 2011, THERE ARE NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. |
| PART XI, LINE 8 - OTHER ADJUSTMENTS: | UNREALIZED GAIN ON PROGRAM RELATED INTEREST RATE SWAP INSTRUMENT 610,564. BOOK TO TAX DIFFERENCE FROM PASS-THROUGH ACTIVITIES -553,263. | |
| PART XII, LINE 2D: THE AMOUNT OF $610,564 IS THE UNREALIZED GAIN DUE TO THE RISE OF THE FAIR VALUE OF THE DERIVATIVE INSTRUMENT. PART XII, LINE 4B: THE AMOUNT REPORTED IN PART XII, LINE 4B REPRESENTS THE SUM OF THE $553,263 BOOK-TO-TAX DIFFERENCE FROM PASS-THROUGH ACTIVITIES AND THE $254,259 IN MISCELLANEOUS INCOME. THE BOOK TO TAX DIFFERENCE FROM PASS-THROUGH ACTIVITIES IN THE AMOUNT OF $553,263 AROSE DUE TO THE PASS THROUGH ENTITIES HAVING A CALENDAR YEAR END OF DECEMBER 31, 2010 AND THE ORGANIZATION HAVING A FISCAL YEAR END OF SEPTEMBER 30, 2011. PART XIII, LINE 4B: THE AMOUNT OF $254,259 IS MISCELLANEOUS INCOME THAT WAS TREATED AS A CONTRA EXPENSE ON THE AUDITED FINANCIAL STATEMENTS. |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Records Maintained | 1 | RecordsMaintained |
Recipient Table RecipientTable (20 entries)
| Address Line1AddressUS/AddressLine1 | CityAddressUS/City | StateAddressUS/State | ZIP CodeAddressUS/ZIPCode | EIN Of RecipientEINOfRecipient | IRC SectionIRCSection | Amount Of Cash GrantAmountOfCashGrant | Purpose Of GrantPurposeOfGrant | Address Line2AddressUS/AddressLine2 |
|---|---|---|---|---|---|---|---|---|
| AMERICAN ACADEMY OF ACHIEVEMENT | ||||||||
| 1222 16TH STREET NW | WASHINGTON | DC | 20036 | 756042129 | 501(C)(3) | 2500000 | GENERAL SUPPORT | |
| CLOSE UP FOUNDATION | ||||||||
| 44 CANAL CENTER PLAZA | ALEXANDRIA | VA | 22314 | 237122882 | 501(C)(3) | 10000 | GENERAL SUPPORT | |
| FORD'S THEATRE SOCIETY | ||||||||
| 511 TENTH STREET NW | WASHINGTON | DC | 20004 | 526073157 | 501(C)(3) | 150000 | SUPPORT OF HISTORIC FORD'S THEATRE EDUCATION INITIATIVES | |
| FOUNDATION FIGHTING BLINDNESS | ||||||||
| 11435 CRONHILL DRIVE | OWINGS MILLS | MD | 21117 | 237135845 | 501(C)(3) | 10000 | GENERAL SUPPORT | |
| NATIONAL GEOGRAPHIC SOCIETY | ||||||||
| 1145 17TH STREET NW | WASHINGTON | DC | 20036 | 530193519 | 501(C)(3) | 150000 | GENERAL SUPPORT | |
| THE JOHN F KENNEDY CENTER FOR THE PERFORMING ARTS | ||||||||
| 2700 F STREET NW | WASHINGTON | DC | 20566 | 530245017 | 501(C)(3) | 500000 | CATHERINE B REYNOLDS FOUNDATION PLEDGE FOR ARTISTIC EXCELLENCE SERIES | |
| THE JOHN F KENNEDY CENTER FOR THE PERFORMING ARTS | ||||||||
| 2700 F STREET NW | WASHINGTON | DC | 20566 | 530245017 | 501(C)(3) | 68500 | GENERAL SUPPORT | |
| TEACH FOR AMERICA | ||||||||
| 315 WEST 36TH STREET 6TH FLOOR | NEW YORK | NY | 10018 | 133541913 | 501(C)(3) | 100000 | SUPPORTING YOUNG LEADERS TO BECOME TEACHERS IN THE LOWEST-INCOME COMMUNITIES | |
| INOVA HEALTH SYSTEM FOUNDATION | ||||||||
| 8110 GATEHOUSE RD SUITE 200E | FALLS CHURCH | VA | 22042 | 541071867 | 501(C)(3) | 10000 | INOVA KELLER CENTER PLEDGE | |
| PANETTA INSTITUTE FOR PUBLIC POLICY | ||||||||
| 100 CAMPUS CENTER BLDG 86-E CSU | SEASIDE | CA | 93955 | 770495799 | 501(C)(3) | 16000 | GENERAL SUPPORT | MONTEREY BAY |
| DC CAP | ||||||||
| 1029 VERMONT AVENUE NW SUITE 400 | WASHINGTON | DC | 20005 | 522132835 | 501(C)(3) | 100000 | SCHOLARSHIPS FOR DC STUDENTS | |
| NEW YORK UNIVERSITY | ||||||||
| 726 BROADWAY 2ND FLOOR | NEW YORK | NY | 10003 | 135562308 | 501(C)(3) | 500000 | CATHERINE B. REYNOLDS FOUNDATION FELLOWSHIPS IN SOCIAL ENTREPRENEURSHIP | |
| DC CAP | ||||||||
| 1029 VERMONT AVENUE NW SUITE 400 | WASHINGTON | DC | 20005 | 522132835 | 501(C)(3) | 25000 | GENERAL SUPPORT | |
| NEW YORK UNIVERSITY | ||||||||
| 25 WEST 4TH STREET ROOM 301 | NEW YORK | NY | 10012 | 135562308 | 501(C)(3) | 10000 | GENERAL SUPPORT | |
| ANCHORAGE MUSEUM | ||||||||
| 121 WEST SEVENTH AVE | ANCHORAGE | AK | 99501 | 926009317 | 501(C)(3) | 10000 | GENERAL SUPPORT | |
| CHILDREN'S INN AT THE NIH | ||||||||
| 5910 GLOSTER ROAD | BETHESDA | MD | 20816 | 521638207 | 501(C)(3) | 10000 | GENERAL SUPPORT | |
| GEORGETOWN UNIVERSITY | ||||||||
| 37TH AND O STREET NW | WASHINGTON | DC | 20057 | 530196603 | 501(C)(3) | 10000 | SOCIAL ENTREPRENEURSHIP PROGRAM | |
| WASHINGTON PERFORMING ARTS SOCIETY | ||||||||
| 2000 L STREET NE SUITE 810 | WASHINGTON | DC | 20036 | 526062439 | 501(C)(3) | 10000 | GENERAL SUPPORT | |
| WOLF TRAP FOUNDATION FOR THE PERFORMING ARTS | ||||||||
| 1645 TRAP ROAD | VIENNA | VA | 22182 | 237011544 | 501(C)(3) | 10000 | GENERAL SUPPORT | |
| CENTRO NIA | ||||||||
| 1420 COLUMBIA ROAD NW | WASHINGTON | DC | 20009 | 251689720 | 501(C)(3) | 10000 | GENERAL SUPPORT | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Nbr Of501 C3 And Govt Grants | 20 | TotalNbrOf501C3AndGovtGrants |
Form990 Schedule I Part IV Form990ScheduleIPartIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | PROCEDURE FOR MONITORING GRANTS IN THE U.S.: | Identifier |
| Return Reference | PART I, LINE 2: | ReturnReference |
| Explanation | SCHEDULE I, PART I, LINE 2: 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. | Explanation |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| First Class Or Charter Travel | X | FirstClassOrCharterTravel |
| Written Policy Re T And E Expenses | 1 | WrittenPolicyReTAndEExpenses |
| Substantiation Required | 1 | SubstantiationRequired |
| Compensation Committee | X | CompensationCommittee |
| Independent Consultant | X | IndependentConsultant |
| Form990 Of Other Organizations | X | Form990OfOtherOrganizations |
| Written Employment Contract | X | WrittenEmploymentContract |
| Compensation Survey | X | CompensationSurvey |
| Board Or Committee Approval | X | BoardOrCommitteeApproval |
| Severance Payment | 0 | SeverancePayment |
| Supplemental Nonqual Retire Plan | 0 | SupplementalNonqualRetirePlan |
| Equity Based Comp Arrangement | 0 | EquityBasedCompArrangement |
| Comp Based On Revenue Of Filing Org | 0 | CompBasedOnRevenueOfFilingOrg |
| Comp Based On Revenue Related Orgs | 0 | CompBasedOnRevenueRelatedOrgs |
| Comp Based Net Earnings Filing Org | 0 | CompBasedNetEarningsFilingOrg |
| Comp Based Net Earnings Relate Orgs | 0 | CompBasedNetEarningsRelateOrgs |
| Any Non Fixed Payments | 0 | AnyNonFixedPayments |
| Initial Contract Exception | 0 | InitialContractException |
Form990 Schedule J Part II Form990ScheduleJPartII (5 entries)
| Base Compensation Filing OrgBaseCompensationFilingOrg | Comp Based On Related OrgsCompBasedOnRelatedOrgs | Bonus Filing OrgBonusFilingOrg | Bonus Related OrgsBonusRelatedOrgs | Other Compensation Filing OrgOtherCompensationFilingOrg | Other Compensation Related OrgsOtherCompensationRelatedOrgs | Deferred Comp Filing OrgDeferredCompFilingOrg | Deferred Comp Related OrgsDeferredCompRelatedOrgs | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrg | Nontaxable Benefits Related OrgsNontaxableBenefitsRelatedOrgs | Total Compensation Filing OrgTotalCompensationFilingOrg | Total Compensation Related OrgsTotalCompensationRelatedOrgs | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrg | Comp Report Prior990 Related OrgsCompReportPrior990RelatedOrgs |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| CATHERINE REYNOLDS | |||||||||||||
| 468750 | 0 | 0 | 0 | 92344 | 0 | 22000 | 0 | 24827 | 0 | 607921 | 0 | 0 | 0 |
| MATTHEW MURRAY | |||||||||||||
| 200000 | 0 | 0 | 0 | 25666 | 0 | 10000 | 0 | 25373 | 0 | 261039 | 0 | 0 | 0 |
| ALI ERSHEID | |||||||||||||
| 200000 | 0 | 0 | 0 | 9142 | 0 | 10000 | 0 | 25415 | 0 | 244557 | 0 | 0 | 0 |
| STEVEN GOLSCH | |||||||||||||
| 161713 | 0 | 0 | 0 | 865 | 0 | 8086 | 0 | 8794 | 0 | 179458 | 0 | 0 | 0 |
| PATRICIA JEAVONS | |||||||||||||
| 129375 | 0 | 0 | 0 | 1096 | 0 | 6469 | 0 | 18703 | 0 | 155643 | 0 | 0 | 0 |
Form990 Schedule J Part III Form990ScheduleJPartIII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Reference | PART I, LINE 1A | ReturnReference |
| Explanation | EDUCAP INC. PROVIDES FIRST CLASS TRAVEL FOR ITS SENIOR EXECUTIVES WHEN APPROPRIATE PURSUANT TO EDUCAP INC.'S TRAVEL POLICY. | Explanation |
Schedule L IRS990ScheduleL
DQP Table DQPTable
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Person | CATHERINE B REYNOLDS | NamePerson |
| Description Of Transaction | EXPENSE REIMBURSEMENT RESOLUTION | DescriptionOfTransaction |
| Transaction Corrected | 1 | TransactionCorrected |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Amount Of Tax Imposed | 63500 | AmountOfTaxImposed |
| Amount Of Tax Reimbursed | 0 | AmountOfTaxReimbursed |
Form990 Schedule L Part IV Form990ScheduleLPartIV (3 entries)
| RelationshipRelationship | Amount Of TransactionAmountOfTransaction | Description Of TransactionDescriptionOfTransaction | Sharing Of RevenuesSharingOfRevenues |
|---|---|---|---|
| WAYNE REYNOLDS | |||
| THE AMERICAN ACADEMY OF ACHIEVEMENT'S PRESIDENT & CHAIRMAN IS MR. REYNOLDS | 2500000 | 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 | 76568 | OFFICE RENT IS PAID BY EDUCAP INC. TO THE AMERICAN ACADEMY OF ACHIEVEMENT. | 0 |
| WAYNE REYNOLDS | |||
| THE AMERICAN ACADEMY OF ACHIEVEMENT'S PRESIDENT & CHAIRMAN IS MR. REYNOLDS | 254259 | ACCOUNTING AND ADMINISTRATIVE SERVICES ARE PROVIDED BY EDUCAP INC. TO THE AMERICAN ACADEMY OF ACHIEVEMENT. | 0 |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (10 entries)
| IdentifierIdentifier | ExplanationExplanation | Return ReferenceReturnReference |
|---|---|---|
| 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. | |
| 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 ACTVITIES 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 COMPETENT 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 12C | |
| THE COMPENSATION FOR OFFICERS AND KEY EMPLOYEES IS APPROVED ANNUALLY BY INDEPENDENT MEMBERS OF EDUCAP INC.'S BOARD OF DIRECTORS AND THE SPECIAL COMMITTEE OF THE BOARD OF DIRECTORS. ADDITIONALLY, THE INDEPENDENT MEMBERS UTILIZE THE EXPERTISE OF AN INDEPENDENT COMPENSATION EXPERT WHO MEETS WITH THE INDEPENDENT MEMBERS AND PROVIDES AND REVIEWS A COMPENSATION COMPARABILITY REPORT. | FORM 990, PART VI, SECTION B, LINE 15 | |
| TO THE EXTENT REQUIRED BY LAW, THE FORM 990 AND FINANCIAL STATEMENTS ARE AVAILABLE BY REQUEST. | FORM 990, PART VI, SECTION C, LINE 19 | |
| CHANGES IN NET ASSETS OR FUND BALANCES: | NET UNREALIZED LOSSES ON INVESTMENTS: -504,710. UNREALIZED GAIN ON PROGRAM RELATED INTEREST RATE SWAP INSTRUMENT 610,564. BOOK TO TAX DIFFERENCE FROM PASS-THROUGH ACTIVITIES -553,263. TOTAL TO FORM 990, PART XI, LINE 5: -447,409. | FORM 990, PART XI, LINE 5: |
| EDUCAP INC. HAS AN AUDIT COMMITTEE THAT ASSUMES OVERSIGHT OF THE AUDIT. THIS PROCESS HAS NOT CHANGED FROM THE PRIOR FISCAL YEAR. | FORM 990, PART XII, LINE 2C | |
| EDUCAP INC. ALSO DOES BUSINESS USING THE NAME LOAN TO LEARN. | FORM 990, PART I, DOING BUSINESS AS: | |
| DETAIL OF OTHER NOTES AND LOANS RECEIVABLE | STUDENT LOANS RECEIVABLE AS OF SEPTEMBER 30, 2011, CONSISTED OF THE FOLLOWING: PRIVATE STUDENT LOANS 213,063,362 FEDERALLY GUARANTEED STUDENT LOANS 27,781,061 ------------ STUDENT LOAN PRINCIPAL RECEIVABLE 240,844,423 DEFERRED LOAN ORIGINATION INCOME -4,883,169 UNAMORTIZED PREMIUMS ON PURCHASE 736,198 ------------ 236,697,452 LESS: ALLOWANCE FOR LOAN LOSSES -41,788,811 ------------ 194,908,641 STUDENT LOAN INTEREST RECEIVABLE 737,062 LESS: ALLOWANCE FOR UNCOLLECTABLE INTEREST -71,843 ------------ STUDENT LOANS RECEIVABLE 195,573,860 ============ | FORM 990, PART X, LINE 7 |
| DETAIL OF MORTGAGES AND OTHER NOTES PAYABLE | EDUCATION LOAN NOTES PAYABLE AS OF SEPTEMBER 30, 2011, CONSISTED OF THE FOLLOWING: SENIOR NOTES SERIES 2004A, DUE 2019 3,054,268 SERIES 2006 AB, DUE 2031 140,236,208 SUBORDINATE NOTES: SERIES 2004B, DUE 2038 25,750,000 SERIES 2006C, DUE 2027 15,420,000 LESS ORIGINAL ISSUE DISCOUNT -210,401 ------------ TOTAL EDUCATION LOAN NOTES PAYABLE 184,250,075 ============ | FORM 990, PART X, LINE 23 |
Schedule R IRS990ScheduleR
Form990 Schedule R Part I Form990ScheduleRPartI (2 entries)
| Address Line1AddressUS/AddressLine1 | CityAddressUS/City | StateAddressUS/State | ZIP CodeAddressUS/ZIPCode | EINEIN | Primary ActivitiesPrimaryActivities | Legal Domicile StateLegalDomicileState | Total IncomeTotalIncome | EOY AssetsEOYAssets | Business Name Line1DirectControllingEntityName/BusinessNameLine1 |
|---|---|---|---|---|---|---|---|---|---|
| L2L EDUCATION LOAN TRUST 2006-1 | |||||||||
| 45610 WOODLAND ROAD SUITE 370 | STERLING | VA | 20166 | 026182050 | FINANCING THE PURCHASE OF STUDENT LOANS | VA | 1225914 | 166826523 | EDUCAP INC |
| L2L EDUCATION LOAN FUNDING LLC | |||||||||
| 45610 WOODLAND ROAD SUITE 370 | STERLING | VA | 20166 | 205944194 | FINANCING THE PURCHASE OF STUDENT LOANS | VA | -12354 | -12354 | EDUCAP INC |