2024-08-15T07:31:39-05:00 2023-09-30 410746749 CLIFTONLARSONALLEN LLP 220 S 6TH STREET SUITE 300 MINNEAPOLIS MN 55402 990 2022-10-01 363514573 NEBRASKA STUDENT LOAN PROGRAM INC NEBR 4024796623 PO BOX 82507 LINCOLN NE 68501 JILL HICKS CFO 4024796623 2024-08-14 1 0 ANN NEIL P01817922 6123764500 2024-08-14 2022 2024-08-08 14:25:15Z DAVID MACOUBRIE PO BOX 82507 LINCOLN NE 68501 72778044 0 X WWW.NSLP.ORG X 1986 NE TO BE A DEFINITIVE VOICE IN HIGHER EDUCATION AND STUDENT SUCCESS. POISED TO ENLIGHTEN, GUIDE AND SUPPORT HIGHER EDUCATION AND ITS STAKEHOLDERS IN THEIR MISSION. X 6 5 6 0 0 0 0 0 39689524 25056919 5764455 11991621 0 0 45453979 37048540 0 202962628 0 0 2105014 1521989 0 0 0 17848537 16212815 19953551 220697432 25500428 -183648892 230624169 60108049 7875094 6570479 222749075 53537570 TO BE A DEFINITIVE VOICE IN HIGHER EDUCATION AND STUDENT SUCCESS. POISED TO ENLIGHTEN, GUIDE AND SUPPORT HIGHER EDUCATION AND ITS STAKEHOLDERS IN THEIR MISSION. 0 0 215748886 202962628 25056919 THE ORGANIZATION SERVES AS A GUARANTEE AGENCY UNDER THE FEDERAL FAMILY EDUCATION LOAN PROGRAM (FFELP), AS APPROVED BY THE DEPARTMENT OF EDUCATION. NSLP ALSO ASSISTS STUDENTS AND HIGHER EDUCATION INSTITUTIONS TO FACILITATE FINANCIAL AID. 215748886 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 1 1 1 0 0 1 16 0 1 6 1 0 0 0 0 0 0 0 0 0 0 0 0 X 6 5 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X JILL HICKS 4024796623 1300 O STREET LINCOLN NE 68508 RANDALL SCOTT HEESACKER PRESIDENT & CEO 20.00 20.00 X X 483406 0 56813 DAVID A MACOUBRIE EXECUTIVE VP & COO 20.00 20.00 X 287512 0 54385 JILL M HICKS CFO 20.00 20.00 X 282478 0 41326 MICHAEL JAY LUBBEN SENIOR VP BUSINESS DEVELOPMENT 40.00 0.00 X 253311 0 41715 SUSAN KAY DOWNING SENIOR VP MARKETING 40.00 0.00 X 222487 0 52285 WILLIAM LEONARD KOHL SENIOR VP PORTFOLIO MANAGEMENT 20.00 20.00 X 207252 0 45397 MARK KRINGS VP PRODUCT IMPLEMENTATION 0.00 40.00 X 0 142078 50618 DEANA MARIE UNGER VP FINANCIAL AID OPS 0.00 40.00 X 0 142879 22095 SHANNON JONES VP BUSINESS DEVELOPMENT 0.00 40.00 X 0 118764 37233 CARISSA R UHLMAN VP STUDENT SUCCESS 0.00 40.00 X 0 112158 32305 CHRISTOPHER J CAMPBELL AST VP BUSINESS DEVELOPMENT 0.00 40.00 X 0 100953 14705 RICHARD VIERK CHAIRMAN 1.00 1.00 X X 36050 0 0 GUY SAUNDERS DIRECTOR 1.00 1.00 X 13750 0 0 JOSEPH KNECHT DIRECTOR 1.00 1.00 X 12750 0 0 KIM RUSSEL DIRECTOR 1.00 1.00 X 11750 0 0 ANTHONY GOINS DIRECTOR 1.00 1.00 X 11000 0 0 1821746 616832 448877 6 0 1 0 NELNET GUARANTEE SERVICES 121 SOUTH 13TH STREET LINCOLN NE 68508 LOAN SERVICING 1638698 BRETT LIEF 448 OCEAN AVE 17B LONG BRANCH NJ 07740 CONSULTING 184200 GC SERVICES PO BOX 32500 COLUMBUS OH 43232 COLLECTION SERVICES 116972 KEATING O'GARA NEDVED & PETER PC 200 S 21ST ST SUITE 400 LINCOLN NE 68501 LEGAL SERVICES 111087 4 RECOVERY REVENUE 900099 21123581 21123581 OTHER INCOME 900099 1039578 1039578 ACCT MAINTENANCE FEE 900099 1037136 1037136 DEPT OF ED TRANSITION 900099 946443 946443 DAF REBATE PROVISION 900099 910181 910181 25056919 8681908 8681908 39039217 35729504 3309713 3309713 3309713 37048540 25056919 0 11991621 202962628 202962628 1447462 481505 965957 74527 27535 46992 126867 126867 93565 19200 74365 391695 391695 494124 278057 216067 83077 26 83051 147336 120019 27317 3917132 3171992 745140 514177 339790 174387 75351 70091 5260 98051 2594 95457 1336022 882900 453122 1043631 986829 56802 LEASED EMPLOYEES 5424112 4037014 1387098 SERVICING FEES 1599996 1599996 DEFAULT AVERSION FEE 487437 487437 POST-DEFAULT FEES 27398 27398 352844 253875 98969 220697432 215748886 4948546 0 1478336 2490159 70510573 48162793 4509942 2179604 64940 64940 809378 1011477 144144807 746371 9106193 5452705 230624169 60108049 1589752 1090701 193965 123859 6091377 5355919 7875094 6570479 X 222749075 53537570 222749075 53537570 230624169 60108049 -183648892 14437387 0 X X 0 1 X 1 1 1 X 27110086 18042731 16600236 38194705 24017341 123965099 4202125 3367726 2296604 1494821 1039578 12400854 31312211 21410457 18896840 39689526 25056919 136365953 0 0 0 136365953 5070303 3906488 3211242 4599509 8681908 25469450 5070303 3906488 3211242 4599509 8681908 25469450 36382514 25316945 22108082 44289035 33738827 161835403 0.84260 0.87990 0.15740 0.12010 X 0 ACCRUED INTEREST RECEIVABLE 64899 OTHER ASSETS 31887 NET ASSETS HELD ON BEHALF OF FEDERAL FUND 5355919 5452705 FEDERAL FUND LIABILITY - PAYABLE TO US DOE 5355919 5355919 X PART X, LINE 2: NSLP HAS BEEN RECOGNIZED AS A TAX-EXEMPT ORGANIZATION BY THE INTERNAL REVENUE SERVICE AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC) AND IS EXEMPT FROM FEDERAL INCOME TAX ON RELATED INCOME PURSUANT TO SECTION 501(A) OF THE IRC. NSLP APPLIES THE PROVISIONS OF ASC SUBTOPIC 740-10, INCOME TAXES OVERALL. ASC SUBTOPIC 740-10 PROVIDES SPECIFIC GUIDANCE ON HOW TO ADDRESS UNCERTAINTY IN ACCOUNTING FOR INCOME TAX ASSETS AND LIABILITIES, PRESCRIBING RECOGNITION THRESHOLDS AND MEASUREMENT ATTRIBUTES. SEPTEMBER 30, 2023 AND 2022, THERE WERE NO UNCERTAIN TAX POSITIONS. ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN INCLUDED IN THE ACCOMPANYING FINANCIAL STATEMENTS. 0 INCEPTIA PO BOX 82507 LINCOLN NE 68501 920907062 501(C)(3) 43000000 0 N/A N/A CASH GRANT TO SUBSIDIARY ORGANIZATION INCEPTIA 9/19/23 INCEPTIA PO BOX 82507 LINCOLN NE 68501 920907062 501(C)(3) 0 41863037 FMV WHITAIL ROCK STUDENT LOAN INVESTMENTS GRANT TO SUBSIDIARY ORGANIZATION INCEPTIA 9/11/23 INCEPTIA PO BOX 82507 LINCOLN NE 68501 920907062 501(C)(3) 0 115249007 FMV EQUITY INVESTMENTS GRANT TO SUBSIDIARY ORGANIZATION INCEPTIA 9/7/23 INCEPTIA PO BOX 82507 LINCOLN NE 68501 920907062 501(C)(3) 0 2850584 BOOK VALUE CAPITALIZED ASSETS GRANT TO SUBSIDIARY ORGANIZATION INCEPTIA 7/1/23 1 0 X X X X X 0 0 0 0 0 0 0 0 0 RANDALL SCOTT HEESACKER PRESIDENT & CEO 394943 0 72919 0 15544 0 39889 0 16924 0 540219 0 0 0 DAVID A MACOUBRIE EXECUTIVE VP & COO 235310 0 50710 0 1492 0 32416 0 21969 0 341897 0 0 0 JILL M HICKS CFO 231873 0 49113 0 1492 0 31738 0 9588 0 323804 0 0 0 MICHAEL JAY LUBBEN SENIOR VP BUSINESS DEVELOPMENT 212779 0 38238 0 2294 0 24834 0 16881 0 295026 0 0 0 SUSAN KAY DOWNING SENIOR VP MARKETING 181525 0 39950 0 1012 0 25936 0 26349 0 274772 0 0 0 WILLIAM LEONARD KOHL SENIOR VP PORTFOLIO MANAGEMENT 167337 0 36407 0 3508 0 28971 0 16426 0 252649 0 0 0 MARK KRINGS VP PRODUCT IMPLEMENTATION 0 129417 0 11169 0 1492 0 21856 0 28762 0 192696 0 0 DEANA MARIE UNGER VP FINANCIAL AID OPS 0 130369 0 10918 0 1592 0 21331 0 764 0 164974 0 0 SHANNON JONES VP BUSINESS DEVELOPMENT 0 117602 0 0 0 1162 0 13832 0 23401 0 155997 0 0 EQUITY INVESTMENTS 2023-09-11 115249007 FMV 920907062 INCEPTIA PO BOX 82507 LINCOLN NE 68501 501(C)(3) CASH 2023-09-19 43000000 ACTUAL 920907062 INCEPTIA PO BOX 82507 LINCOLN NE 68501 501(C)(3) WHITAIL ROCK STUDENT LOAN INVESTMENTS 2023-09-07 41863037 FMV 920907062 INCEPTIA PO BOX 82507 LINCOLN NE 68501 501(C)(3) CAPITALIZED ASSETS 2023-07-01 2850584 BOOK VALUE 920907062 INCEPTIA PO BOX 82507 LINCOLN NE 68501 501(C)(3) 1 0 0 0 PART II, LINE 2E: EXPLANATION OF INVOLVEMENT: NEBRASKA STUDENT LOAN PROGRAM (NSLP) IS THE SOLE MEMBER OF INCEPTIA AND THUS INCEPTIA WILL HAVE THE SAME BOARD AS NSLP. THE FOLLOWING BOARD MEMBERS OF NSLP BECAME BOARD MEMBERS OF INCEPTIA, ALL OF WHOM SHARE THE SAME TITLE BETWEEN THE TWO ORGANIZATIONS:- RANDALL SCOTT HEESACKER, PRESIDENT & CEO- DAVID A. MACOUBRIE, EXECUTIVE VP & COO- JILL M. HICKS, CFO- MICHAEL JAY LUBBEN, SENIOR VP OF BUSINESS DEVELOPMENT- SUSAN KAY DOWNING, SENIOR VP OF MARKETING- WILLIAM LEONARD KOHL, SENIOR VP OF PORTFOLIO MANAGEMENT- RICHARD VIERK, CHAIRMAN- GUY SAUNDERS, DIRECTOR- JOSEPH KNECHT, DIRECTOR- KIM RUSSEL, DIRECTOR- ANTHONY GOINS, DIRECTOR PART II, LINE 1: ON OCTOBER 27, 2022 NEBRASKA STUDENT LOAN PROGRAM, INC. (NSLP) FILED ARTICLES OF INCORPORATION FOR INCEPTIA WITH THE NEBRASKA SECRETARY OF STATE. INCEPTIA RECEIVED NOTICE OF TAX EXEMPT STATUS FROM THE INTERNAL REVENUE SERVICE ON APRIL 11, 2023. ON JULY 1, 2023, NSLP TRANSFERRED CERTAIN UNDERLYING INTERESTS AND ASSETS, TO INCEPTIA BY GRANT. THIS INCLUDED CERTAIN PROGRAMS AND INTELLECTUAL PROPERTY RELATED TO SUCH PROGRAMS, EQUIPMENT, OTHER TANGIBLE AND INTANGIBLE PROPERTY, DOMAIN NAME REGISTRATIONS, WEB ADDRESSES, WEB SITE CONTENT, CASH AND OTHER INVESTMENT ASSETS IN ORDER TO SUPPORT THE ACTIVITIES OF INCEPTIA. FORM 990, PART VI, SECTION A, LINE 1A THERE ARE NO COMMITTEES WITH GOVERNING AUTHORITY TO ACT ON BEHALF OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 6 THE FOUNDATION FOR EDUCATIONAL SERVICES, INC. (FES), A NOT-FOR-PROFIT CORPORATION, SERVES AS THE SOLE MEMBER OF NEBRASKA STUDENT LOAN PROGRAM, INC. (NSLP) AND ELECTS NSLP'S BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7A THE FOUNDATION FOR EDUCATIONAL SERVICES, INC. (FES), A NOT-FOR-PROFIT CORPORATION, SERVES AS THE SOLE MEMBER OF NEBRASKA STUDENT LOAN PROGRAM, INC. (NSLP) AND ELECTS NSLP'S BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS PREPARED BY AN EXTERNAL AUDITOR, REVIEWED BY STAFF, AND MAILED TO ALL BOARD MEMBERS. THE 990 IS PRESENTED TO THE AUDIT COMMITTEE AND THE BOARD BEFORE IT IS FILED. FORM 990, PART VI, SECTION B, LINE 12C NSLP MAINTAINS A CONFLICT OF INTEREST POLICY FOR ALL DIRECTORS AND OFFICERS. A CONFLICT OF INTEREST EXISTS IF A MEMBER HAS FINANCIAL OR OWNERSHIP INTEREST IN THE ORGANIZATION. THE POLICY EXISTS TO IDENTIFY POTENTIAL INSTANCES IN WHICH AN INDIVIDUAL COULD PERSONALLY BENEFIT TO THE DETRIMENT OF THE ORGANIZATION. THE POLICY REQUIRES ALL MEMBERS TO DISCLOSE AN ANNUAL DISCLOSURE FORM. IF A POTENTIAL CONFLICT OF INTEREST IS DETERMINED TO EXIST, SUCH INTERESTED PERSON MUST PREPARE A WRITTEN STATEMENT DESCRIBING THE NATURE OF THE TRANSACTION AND CONFLICT OF INTEREST. DISCUSSIONS WITH INDEPENDENT, OUTSIDE LEGAL COUNSEL, AS WELL AS THE CHAIRMAN AND PRESIDENT OF NSLP DETERMINE WHETHER A CONFLICT OF INTEREST EXISTS. IN THE EVENT OF A POSITIVE FINDING BY INDEPENDENT LEGAL COUNSEL AND AFTER REVIEW BY THE BOARD, LEGAL COUNSEL WILL ADVISE THE INTERESTED PERSON HOW TO REMOVE THEMSELVES FROM INFLUENCE OVER THE DECISIONS ON THE MATTER, AS WELL AS ADVISE ON ANY OTHER RESTRICTIONS THAT WILL BE IMPOSED UPON THE INTERESTED INDIVIDUAL. RESULTS OF THE PROCEEDINGS ARE DOCUMENTED IN THE ORGANIZATION'S MEETING MINUTES. FORM 990, PART VI, SECTION B, LINE 15 OUTSIDE LEGAL COUNSEL UNDERTAKES A COMPREHENSIVE EVALUATION OF THE COMPENSATION AND BENEFIT PACKAGES FOR OFFICERS AND OTHER AFFECTED EMPLOYEES OF THE ORGANIZATION, COMPARING THE SAME RELEVANT INDUSTRY AND OTHER MARKET COMPARABLES. COUNSEL THEN PROVIDES TO THE BOARD OF DIRECTORS A SUMMARY OF THE COMPARABILITY DATA, AN ANALYSIS OF THE DATA RELATIVE TO THE ORGANIZATIONAL EMPLOYEES, AND A REASONED OPINION CONCERNING THIS CONCLUSION. THE BOARD OF DIRECTORS THEN CONFIRMS AND RATIFIES ALL COMPENSATION/BENEFITS PACKAGES, WITH THE DECISION PROCESS PROPERLY DOCUMENTED AS REQUIRED BY THE REGULATIONS. ON A ROUTINE BASIS, NSLP ENGAGES AN INDEPENDENT COMPENSATION SPECIALIST TO PROVIDE DATA FOR KEY POSITIONS. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2023. FORM 990, PART VI, SECTION C, LINE 19 PUBLIC AVAILABILITY OF DOCUMENTS, POLICIES, AND FINANCIAL STATEMENTS: NSLP DOES NOT MAKE THEIR GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, OR FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. FORM 990, PART XII, LINE 2C: THE AUDIT OVERSIGHT PROCESS HAS NOT CHANGED FROM PRIOR YEAR. FOUNDATION FOR EDUCATIONAL SERVICES INC PO BOX 82552 LINCOLN NE 68501 470703499 SUPPORTING ORG NE 501(C)(3) LINE 12B, II N/A 0 EDUCATIONQUEST FOUNDATION 1300 O STREET LINCOLN NE 68508 470606382 EDU SUPPORT NE 501(C)(3) LINE 12B, II FES 0 INCEPTIA PO BOX 82507 LINCOLN NE 68501 920907062 STUDENT FINANCIAL AID SUPPORT NE 501(C)(3) LINE 10 NSLP 1 0 1 0 0 0 0 0 0 0 0 1 0 0 1 1 1 0 0 0 INCEPTIA B 202962628 FMV