2026-04-29T16:32:42-05:00 2025-06-30 352123203 KSM BUSINESS SERVICES INC PO BOX 40857 INDIANAPOLIS IN 46240 990 2024-07-01 310995844 INDIANA SECONDARY MARKET FOR EDUCATION LOANS INC INDI 3177159000 301 PENNSYLVANIA PARKWAY 360 INDIANAPOLIS IN 46280 JOSEPH V WOOD PRESIDENT 3177159000 2026-04-15 1 1 CASSE TATE P01271193 3175802000 2026-04-15 2024 2025-03-06 01:10:19Z INVESTED JOSEPH V WOOD 301 PENNSYLVANIA PARKWAY 360 INDIANAPOLIS IN 46280 29970932 0 X WWW.INVESTEDINDIANA.ORG X 1980 IN FOR OVER 40 YEARS, INDIANA SECONDARY MARKET FOR EDUCATION LOANS, INC. (D/B/A "INVESTED") HAS PROVIDED INDIANA STUDENTS AND FAMILIES CRITICAL RESOURCES AND ADVISING SERVICES TO PLAN AND FINANCE EDUCATION AFTER HIGH SCHOOL. AS INDIANA'S ONLY STATE-BASED, NONPROFIT STUDENT-LOAN-MAKING AND FINANCIAL-LITERACY ORGANIZATION, INVESTED PLAYS A CRUCIAL ROLE SERVING ALL INDIANA STUDENTS AND FAMILIES BEFORE, DURING, AND AFTER THEIR POST-SECONDARY STUDIES TO MAKE POST-SECONDARY EDUCATIONAL ATTAINMENT AFFORDABLE. INVESTED PROVIDES STUDENTS AND FAMILIES VARIOUS SERVICES THROUGH ITS STUDENT LOAN PROGRAM AND ITS FINANCIAL AID LITERACY AND ADVISING PROGRAMS, ALL AT NO COST TO STUDENTS, THEIR FAMILIES, OR INDIANA TAXPAYERS. 9 9 17 0 0 0 0 0 7970690 7882623 8603007 8133360 0 0 16573697 16015983 6750000 479000 0 0 2733663 2759324 0 0 0 8472040 9801888 17955703 13040212 -1382006 2975771 241352522 251203412 67477911 71292496 173874611 179910916 X FOR OVER 40 YEARS, INDIANA SECONDARY MARKET FOR EDUCATION LOANS, INC. (D/B/A "INVESTED") HAS PROVIDED INDIANA STUDENTS AND FAMILIES CRITICAL RESOURCES AND ADVISING SERVICES TO PLAN AND FINANCE EDUCATION AFTER HIGH SCHOOL. AS INDIANA'S ONLY STATE-BASED, NONPROFIT STUDENT-LOAN-MAKING AND FINANCIAL-LITERACY ORGANIZATION, INVESTED PLAYS A CRUCIAL ROLE SERVING ALL INDIANA STUDENTS AND FAMILIES BEFORE, DURING, AND AFTER THEIR POST-SECONDARY STUDIES TO MAKE POST-SECONDARY EDUCATIONAL ATTAINMENT AFFORDABLE. INVESTED PROVIDES STUDENTS AND FAMILIES VARIOUS SERVICES THROUGH ITS STUDENT LOAN PROGRAM AND ITS FINANCIAL AID LITERACY AND ADVISING PROGRAMS, ALL AT NO COST TO STUDENTS, THEIR FAMILIES, OR INDIANA TAXPAYERS. 0 0 9778031 479000 7882623 IN FISCAL YEAR 2025, THROUGH ITS FINANCIAL AID LITERACY AND ADVISING SERVICES, INVESTED CONDUCTED 1,060 IN-PERSON EVENTS AT PARTNER SCHOOLS FOR 94,454 ATTENDEES, AND PROVIDED DIRECT ONE-ON-ONE SUPPORT TO 16,358 INDIVIDUALS. INFORMATION DISCUSSED AND SHARED DURING GROUP EVENTS AND INDIVIDUAL SESSIONS INCLUDES, BUT IS NOT LIMITED TO:- MATERIALS AND INFORMATION: DEMONSTRATING THE VALUE PROPOSITION OF POSTSECONDARY CREDENTIALS AND DEGREES;- RESOURCES: DEMYSTIFYING INFORMATION BARRIERS, AND ASSISTANCE CAREFULLY NAVIGATING AVAILABLE GRANTS, SCHOLARSHIPS, COST SAVINGS, AND OPTIMAL FUNDING OPTIONS TO MEET POSTSECONDARY EDUCATION NEEDS AND CAREER GOALS; AND - ASSISTANCE: ACCESSING INDIANA'S EXCEPTIONALLY GENEROUS STATE FINANCIAL AID PROGRAM, AS WELL AS FEDERAL RESOURCES THROUGH PROGRAMS LIKE FREE APPLICATION FOR STUDENT AID (FAFSA) COMPLETION EVENTS, AND ONGOING CONCIERGE-STYLE GUIDANCE AND SUPPORT BY PHONE, EMAIL, AND ONLINE CHAT. 9778031 1 0 0 1 0 0 0 0 0 0 1 0 1 0 0 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 18 0 1 17 1 0 0 0 0 0 0 0 0 0 0 0 0 X 9 9 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 IN X LINAE DEVAISHER 3177159000 301 PENNSLYVANIA PARKWAY SUITE 360 INDIANAPOLIS IN 46280 DOUG BROWN BOARD MEMBER 1.00 X 1960 0 0 CAROL D'AMICO SECRETARY 1.00 X X 3136 0 0 TOM GUEVARA BOARD MEMBER 1.00 X 1764 0 0 MATTHEW MURPHY TREASURER 1.00 X X 3332 0 0 FRED PAYNE VICE CHAIRPERSON 1.00 X X 1372 0 0 CHARLES E SCHALLIOL CHAIRPERSON 2.00 X X 7448 0 0 JIM SNYDER BOARD MEMBER 1.00 X 1764 0 0 BETSY WILEY BOARD MEMBER 1.00 X 1568 0 0 MARSHAWN WOLLEY BOARD MEMBER 1.00 X 1372 0 0 LINAE DEVAISHER CFO & VP 40.00 X 300751 0 21546 JOSEPH WOOD CEO & PRESIDENT 40.00 X 469900 0 36799 PATRICK JASON MCGREW VP OF EXTERNAL MANAGEMENT 40.00 X 200885 0 36427 CYNTHIA STONEROCK SENIOR FINANCIAL ANALYST 40.00 X 121625 0 31977 WILLIAM WOZNIAK VP OF MARKETING 40.00 X 222588 0 35668 MATTHEW KRIEG LENDING, BUS. DEV. MNGR. 40.00 X 109160 0 30489 SUSAN MAYBERRY ADV. & OUTREACH MNGR. 40.00 X 109046 0 30496 1557671 0 223402 8 0 1 0 FAEGRE DRINKER BIDDLE & REATH LLP 300 N MERIDIAN ST INDIANAPOLIS IN 46204 LEGAL 565692 CAMPUS DOOR HOLDINGS 4900 RITTER RD SUITE 240 MECHANICSBURG PA 17055 LOAN ORIGINATION 424877 VOX GLOBAL 601 S MERIDIAN ST INDIANAPOLIS IN 46225 PUBLIC RELATIONS 291599 AESPHEAA 1200 N 7TH ST HARRISBURG PA 17102 LOAN SERVICING 273471 RARE BIRD INC 200 S RANGELINE ROAD CARMEL IN 46032 MARKETING 249743 7 INTEREST ON STUDENT LOANS 611710 7024495 7024495 SPECIAL ALLOWANCE 611710 694784 694784 OTHER FEE INCOME ON STUDENT LOANS 611710 163344 163344 7882623 4803309 4803309 17285000 13954949 3330051 3330051 3330051 16015983 7882623 0 8133360 475000 475000 4000 4000 885704 85441 800263 1311346 898721 412625 65779 42945 22834 365473 239627 125846 131022 72582 58440 310142 310142 71190 71190 105249 105249 260724 260724 1031586 433852 597734 546029 535390 10639 49435 49435 88086 15315 72771 115238 115238 54316 42767 11549 9904 9904 3456449 3456449 58876 58876 122660 122660 PROVISION FOR LOAN LOSS 2803756 2803256 500 COLLECTIONS EXPENSE 349830 349830 LOAN SERVICING FEE 273589 273589 94829 49267 45562 13040212 9778031 3262181 0 8531856 9670254 4701789 0 132533 104944 4232217 3756212 155920 131574 573973 258282 306886 315691 104500850 116498833 631678 421890 117220350 119408259 938443 895755 241352522 251203412 2311026 1754703 65166885 69537793 67477911 71292496 X 172772611 178788916 1102000 1122000 173874611 179910916 241352522 251203412 2975771 3060534 0 X X 0 1 X 1 0 X 22989647 27281839 27047607 32002758 26891676 136213527 22989647 27281839 27047607 32002758 26891676 136213527 0 0 0 136213527 2841768 5066321 3802045 3685226 4803309 20198669 2841768 5066321 3802045 3685226 4803309 20198669 25831415 32348160 30849652 35687984 31694985 156412196 0.87090 0.87270 0.12910 0.12730 X PART III LINE 2 GROSS RECEIPTS ON PART III LINE 2 INCLUDE PAYMENTS ON STUDENT LOAN DEBT. 0 1 0 0 0 0 1 105249 0 0 105249 0 PART II-B, LINE 1: ADVOCATING FOR INDIANA SECONDARY MARKET FOR EDUCATION LOANS, INC.'S MISSION OF PROVIDING STUDENTS AND FAMILIES CRITICAL RESOURCES AND ADVISING SERVICES TO PLAN AND FINANCE EDUCATION AFTER HIGH SCHOOL. MEETING WITH LEGISLATORS TO EDUCATE AROUND ISM'S STATUTORY MISSION. 41820 6556 35264 532153 251726 280427 315691 STUDENT LOAN RECEIVABLE AND ACCRUED INTEREST 119408259 C 119408259 X 18815793 3060534 3060534 15755259 260724 260724 16015983 12779488 0 12779488 260724 260724 13040212 PART X, LINE 2: INVESTED IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THEREFORE, NO PROVISION OR LIABILITY FOR INCOME TAXES HAS BEEN INCLUDED IN THE FINANCIAL STATEMENTS. IN ADDITION, INVESTED HAS BEEN DETERMINED BY THE INTERNAL REVENUE SERVICE NOT TO BE PRIVATE FOUNDATION WITHIN THE MEANING OF SECTION 509(A) OF THE INTERNAL REVENUE CODE. ADDITIONALLY, INVESTED MEETS THE CRITERIA REQUIRED FOR CLASSIFICATION AS AN AFFILIATE OF A GOVERNMENT UNIT, AND THEREFORE, IS NOT REQUIRED TO FILE FEDERAL OR STATE INFORMATION RETURNS. 1 INDIANA COMMISSION FOR HIGHER EDUCATION 101 W OHIO ST 300 INDIANAPOLIS IN 46204 STATE OF INDIANA 475000 0 NON-STEM DUAL CREDIT CREDENTIALING PROGRAM 1 0 PART I, LINE 2: INVESTED ONLY MAKES GRANTS IN FURTHERANCE OF ITS TAX-EXEMPT MISSION. ALL GRANTS ARE MADE PURSUANT TO GRANT AGREEMENTS THAT DELINEATE INVESTED'S AND GRANTEE'S RESPECTIVE RESPONSIBILITIES. THE AGREEMENTS OBLIGATE THE GRANTEE TO USE GRANT FUNDS ONLY FOR THE PURPOSE FOR WHICH THE GRANT WAS MADE. THE AGREEMENTS PROVIDE FOR PERIODIC AND FINAL WRITTEN REPORTS CONCERNING THE USE OF GRANT FUNDS; REQUIRE A FINAL WRITTEN REPORT AND AN ACCOUNTING OF HOW GRANT FUNDS WERE USED; AND ACKNOWLEDGES INVESTED'S AUTHORITY TO WITHHOLD AND/OR RECOVER GRANT FUNDS IN CASE SUCH FUNDS ARE, OR APPEAR TO BE, MISUSED. X X X X X X 0 0 0 0 0 0 0 0 0 JOSEPH WOOD CEO & PRESIDENT 375781 0 87242 0 6877 0 18416 0 18383 0 506699 0 0 0 LINAE DEVAISHER CFO & VP 221234 0 59265 0 20252 0 12788 0 8758 0 322297 0 0 0 WILLIAM WOZNIAK VP OF MARKETING 171006 0 34031 0 17551 0 10260 0 25408 0 258256 0 0 0 PATRICK JASON MCGREW VP OF EXTERNAL MANAGEMENT 176440 0 15876 0 8569 0 10584 0 25843 0 237312 0 0 0 CYNTHIA STONEROCK SENIOR FINANCIAL ANALYST 109479 0 10733 0 1413 0 6569 0 25408 0 153602 0 0 0 A THE INDIANA SECONDARY MARKET FOR EDUCATION LOANS INC 310995844 45505NAA2 2022-12-01 1000000 STUDENT LOANS 0 0 0 B THE INDIANA SECONDARY MARKET FOR EDUCATION LOANS INC 310995844 45505NAB0 2022-12-01 2090000 STUDENT LOANS 0 0 0 C THE INDIANA SECONDARY MARKET FOR EDUCATION LOANS INC 310995844 45550NAC8 2022-12-01 3000000 STUDENT LOANS 0 0 0 D THE INDIANA SECONDARY MARKET FOR EDUCATION LOANS INC 310995844 45505NAD6 2022-12-01 3500000 STUDENT LOANS 0 0 0 A 1000000 1000000 0 0 1 1 B 2090000 2090000 0 0 1 1 C 3000000 0 0 1 1 D 3500000 0 0 1 1 A 0 1 0 0 0 0 0 0 0 B 0 1 0 0 0 0 0 0 0 C 0 1 0 0 0 0 0 0 0 D 0 1 0 0 0 0 0 0 0 A 1 B 1 C 1 D 1 A THE INDIANA SECONDARY MARKET FOR EDUCATION LOANS INC 310995844 45505NAE4 2022-12-01 3100000 STUDENT LOANS 0 0 0 B THE INDIANA SECONDARY MARKET FOR EDUCATION LOANS INC 310995844 45505NAF1 2022-12-01 2725000 STUDENT LOANS 0 0 0 C THE INDIANA SECONDARY MARKET FOR EDUCATION LOANS INC 310995844 45505NAG9 2022-12-01 2450000 STUDENT LOANS 0 0 0 D THE INDIANA SECONDARY MARKET FOR EDUCATION LOANS INC 310995844 45505NAH7 2022-12-01 2520000 STUDENT LOANS 0 0 0 A 3100000 0 0 1 1 B 2725000 0 0 1 1 C 2450000 0 0 1 1 D 2520000 0 0 1 1 A 0 1 0 0 0 0 0 0 0 B 0 1 0 0 0 0 0 0 0 C 0 1 0 0 0 0 0 0 0 D 0 1 0 0 0 0 0 0 0 A 1 B 1 C 1 D 1 A THE INDIANA SECONDARY MARKET FOR EDUCATION LOANS INC 310995844 45505NAJ3 2022-12-01 8505000 STUDENT LOANS 0 0 0 A 8315000 8505000 0 0 1 1 A 0 1 0 0 0 0 0 0 0 A 1 FORM 990- VOLUNTARY FILING INDIANA SECONDARY MARKET FOR EDUCATION LOANS, INC. (ORGANIZATION) IS EXEMPT FROM FILING FORM 990. THE ORGANIZATION APPLIED FOR EXEMPTION FROM FILING AND RECEIVED APPROVAL FROM THE IRS ON APRIL 2, 2010, UNDER REVENUE PROCEDURE 95-48. ON APRIL 8, 2025 THE GOVERNOR OF THE STATE OF INDIANA ISSUED EXECUTIVE ORDER 25-43 COMPELLING CERTAIN ORGANIZATIONS TO FILE FORM 990. AS A RESULT, THE ORGANIZATION IS FILING FORM 990 TO COMPLY WITH THIS EXECUTIVE ORDER, EVEN THOUGH THE FILING IS NOT REQUIRED BY THE INTERNAL REVENUE CODE. FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS REVIEWED BY THE AUDIT COMMITTEE OF THE BOARD; IT IS THEN PROVIDED TO THE FULL BOARD OF DIRECTORS PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C EACH DIRECTOR, PRINCIPAL OFFICER AND MEMBER OF A COMMITTEE WITH BOARD DELEGATED POWERS SHALL ANNUALLY SIGN A STATEMENT WHICH AFFIRMS THAT SUCH PERSON HAS RECEIVED A COPY OF THE CONFLICT OF INTEREST POLICY, READ AND UNDERSTANDS THE POLICY, AGREES TO COMPLY WITH THE POLICY AND UNDERSTANDS THAT THE CORPORATION IS A CHARITABLE ORGANIZATION THAT IN ORDER TO MAINTAIN ITS FEDERAL TAX EXEMPTION MUST ENGAGE PRIMARILY IN ACTIVITIES WHICH ACCOMPLISH ONE OF MORE OF ITS EXEMPT PURPOSES. TO ENSURE THAT THE CORPORATION OPERATES IN A MANNER CONSISTENT WITH ITS CHARITABLE PURPOSES AND THAT IT DOES NOT ENGAGE IN ACTIVITIES THAT COULD JEOPARDIZE ITS STATUS AS AN ORGANIZATION EXEMPT FROM FEDERAL INCOME TAX, PERIODIC REVIEWS SHALL BE CONDUCTED. THE PERIODIC REVIEWS SHALL, AT A MINIMUM, ASSESS WHETHER COMPENSATION ARRANGEMENTS AND BENEFITS ARE REASONABLE AND ARE THE RESULT OF ARM'S-LENGTH BARGAINING. IN CONDUCTING REVIEWS, THE CORPORATION MAY USE OUTSIDE ADVISORS BUT THE USE OF SUCH SHALL NOT RELIEVE THE BOARD OF IT RESPONSIBILITY TO CONDUCT PERIODIC REVIEWS. FORM 990, PART VI, SECTION B, LINE 15 THE PROCESS FOR DETERMINING COMPENSATION OF INVESTED'S PRESIDENT/CEO AND OTHER OFFICERS AND KEY EMPLOYEES IS OVERSEEN BY THE COMPENSATION COMMITTEE, WHICH WAS DESIGNATED AND AUTHORIZED BY THE BOARD TO MAKE COMPENSATION RELATED DETERMINATIONS. THE COMPENSATION COMMITTEE OPERATES UNDER THE COMPENSATION COMMITTEE CHARTER AND INVESTED'S EXECUTIVE COMPENSATION AND INTERMEDIATE SANCTIONS POLICY. THE COMMITTEE IS MADE UP OF INDEPENDENT DIRECTORS AND IS RESPONSIBLE FOR ENSURING COMPENSATION IS REASONABLE AND BASED ON RELIABLE COMPARABILITY DATA. EACH REVIEW INCLUDES CONSIDERATION OF JOB DUTIES, RESPONSIBILITIES, EXPERIENCE, QUALIFICATIONS, AND PERFORMANCE AGAINST INVESTED'S MISSION. THE COMMITTEE BENCHMARKS COMPENSATION USING EXTERNAL SURVEYS, FORM 990S FROM COMPARABLE ORGANIZATIONS, AND DATA FROM A COMPENSATION CONSULTANT. WITH THE HELP OF LEGAL COUNSEL AND AN OUTSIDE COMPENSATION CONSULTANT, A FULL COMPENSATION ANALYSIS IS CONDUCTED EVERY EVEN YEAR, WITH TRENDING AND MARKET DATA REVIEWED IN ODD YEARS. ALL COMPENSATION DELIBERATIONS AND DECISIONS ARE DOCUMENTED IN MEETING MINUTES, INCLUDING DETAILS ON COMPARABILITY DATA AND RATIONALE FOR APPROVAL. THIS PROCESS ENSURES COMPENSATION IS FAIR, WELL-DOCUMENTED, AND COMPLIANT WITH IRS REQUIREMENTS. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. FURTHERMORE, INVESTED COMPLIES WITH THE INDIANA ACCESS TO PUBLIC RECORDS ACT AND TIMELY RESPONDS TO ALL REQUESTS FOR PUBLIC RECORDS. FORM 990 PART XII LINE 2C THE ORGANIZATION'S OVERSIGHT OF THE FINANCIAL STATEMENT AUDIT HAS NOT CHANGED FROM PRIOR YEAR. ACCELERATE INDIANA INC 301 PENNSYLVANIA PARKWAY 360 INDIANAPOLIS IN 46280 872561506 PROVIDE FINANCIAL ASSISTANCE AWARDS TO STUDENTS IN 501(C)(3) LINE 7 INDIANA SECONDARY MARKET FOR EDUCATION LOANS INC 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0