2024-11-15T08:35:26-06:00 2023-12-31 263753134 CBIZ ADVISORS LLC 500 BOYLSTON STREET BOSTON MA 02116 990 2023-01-01 042254705 MASSACHUSETTS HIGHER EDUCATION ASSISTANCE CORPORATION MASS 6177284549 33 ARCH STREET 2100 BOSTON MA 02110 BARBARA MATEZ PRESIDENT/CEO/TREASURER 6177284549 2024-11-11 1 0 CRAIG KLEIN P00734640 6177610600 2024-11-11 2023 2024-10-15 13:58:12Z AMERICAN STUDENT ASSISTANCE JEAN EDDY 33 ARCH STREET 2100 BOSTON MA 02110 493638295 0 X WWW.ASA.ORG X 1956 MA PROVIDE ACCESS TO AND CONDUCT ACTIVITIES IN FURTHERANCE OF HIGHER EDUCATION. 12 11 99 0 -245 0 1389402 410773 87981477 85077064 -8234020 27481673 783497 153494 81920356 113123004 6167167 9250341 0 0 15748514 15549019 0 0 0 47387753 70295808 69303434 95095168 12616922 18027836 945178364 1045185472 125579526 131181242 819598838 914004230 X THE ORGANIZATION'S PRIMARY EXEMPT PURPOSE IS TO PROVIDE ACCESS TO AND CONDUCT ACTIVITIES IN FURTHERANCE OF HIGHER EDUCATION. 1 0 27359833 205817 85077064 MASSACHUSETTS HIGHER EDUCATION ASSISTANCE CORPORATION (MHEAC) RELIEVES THE BURDENS OF GOVERNMENT AND ASSISTS STUDENTS AND PARENTS IN SUCCESSFULLY COMPLETING A PROGRAM OF HIGHER EDUCATION BY CONTINUING TO ACT AS A GUARANTOR OF STUDENT LOANS MADE BY LENDERS, IN CONNECTION WITH THE FEDERAL HIGHER EDUCATION ACT OF 1965. IN ADDITION, MHEAC ENGAGES IN A VARIETY OF ACTIVITIES IN FURTHERANCE OF HIGHER EDUCATION, INCLUDING HELPING STUDENTS EXPLORE ALTERNATIVE EDUCATION PATHWAYS IN PURSUIT OF SUCCESSFUL AND FULFILLING CAREERS. 54890010 9044524 MIDDLE AND HIGH SCHOOL ACTIVITIES: MHEAC ENGAGES IN A VARIETY OF ACTIVITIES IN FURTHERANCE OF HIGHER EDUCATION. THE MISSION IS TO HELP STUDENTS KNOW THEMSELVES, KNOW THEIR OPTIONS, AND MAKE INFORMED DECISIONS TO ACHIEVE THEIR EDUCATION AND CAREER GOALS. ASA IS COMMITTED TO HELPING STUDENTS EXPLORE EDUCATION AND CAREER OPTIONS STARTING IN MIDDLE SCHOOL, EXPERIMENT THROUGH HANDS-ON OPPORTUNITIES, AND EXECUTE A PLAN TO MEET THEIR GOALS. ASA'S INNOVATIVE PROGRAMS AND PARTNERSHIPS, COMBINED WITH A ROBUST RESEARCH AGENDA AND ADVOCACY PLATFORM, ENABLE ASA TO PROVIDE MEANINGFUL IMPACT TO YOUNG PEOPLE ON A NATIONAL SCALE. 82249843 1 1 0 0 0 0 0 0 0 0 1 1 0 0 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 0 1 1 0 0 0 1 64 0 1 99 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 12 11 0 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X KYLE MORIN 6177284210 33 ARCH STREET SUITE 2100 BOSTON MA 02110 ALEX RAPPAPORT DIRECTOR 1.00 X 50000 0 0 CARLA THOMPSON DIR/CHAIR OF IMPACT INVESTING 1.00 X 60500 0 0 CAROL FULP DIRECTOR/CHAIR OF COMPENSATION 1.00 X X 70500 0 0 EMILY MCCANN DIRECTOR 1.00 X 50000 0 0 JEAN EDDY PRESIDENT/CEO/DIRECTOR 40.00 X X 781026 0 35650 KEN JONES DIR./CHAIR OF AUDIT COMMITTEE 2.00 X 60500 0 0 LAWRENCE H GENNARI DIR/CHAIR OF BOARD/CHAIR 4.00 X X 75500 0 0 PATTY DIAZ-ANDRADE DIRECTOR 1.00 X 50000 0 0 STEPHANIE CRIMMINS DIRECTOR 1.00 X 50000 0 0 THOMAS GRAF DIR./CHAIR OF INV COMMITTEE 1.00 X 53000 0 0 MARGARET NG DIRECTOR 1.00 X 12500 0 0 DANIEL ACHEAMPONG DIRECTOR 1.00 X 12500 0 0 ANGELINE L CASTERA CHIEF PEOPLE OFFICER 40.00 X 363958 0 75486 BARBARA MATEZ EVP & CFO (UNTIL 5/23) 40.00 X 370100 0 27026 JOHN CHRISTOPHER SHEEHAN VP & GENERAL COUNSEL 40.00 X 364516 0 38332 ALISA WILKE SVP PRODUCT DEVELOPMENT 40.00 X 318738 0 75214 CAMERON F LOGAN PHD VICE PRESIDENT OF TECHNOLOGY 40.00 X 342533 0 62955 CARMELA CAPLAIN VICE PRESIDENT OF FINANCE 40.00 X 300014 0 38081 CLAY COLARUSSO CMO & SVP DIGITAL STRATEGY 40.00 X 372030 0 58127 JAMES G SMITH VICE PRESIDENT OF MARKETING 40.00 X 237467 0 53718 JUDY GOLDSTEIN SVP PUBLIC RELATIONS COMMUNICATIONS 40.00 X 334080 0 56603 JULIE LAMMERS SVP ADVOCACY CORP RESP 40.00 X 338280 0 63618 KYLE G MORIN VP, HEAD OF FINANCE 40.00 X 260605 0 54576 RILWAN MEERAN VP MISSION IMPACT INVESTME 40.00 X 444111 0 68998 ALAN WHITE SR. DIR. STR RES DATA ANALYSIS 40.00 X 199050 0 54285 ANDREW DYKE SR. DIRECTOR OF TECHNOLOGY 40.00 X 249205 0 23579 LEE WALDVOGEL SR PROGRAM DIR PARTNERS 40.00 X 198911 0 55418 SANDY DAWKINS PMO PROGRAM DIRECTOR 40.00 X 183531 0 32729 MICHAEL D GRANT SENIOR DIRECTOR OF FINANACE 40.00 X 202345 0 30911 6405500 0 905306 41 0 1 0 ECMC 111 WASHINGTON AVENUE SOUTH MINNEAPOLIS MN 55401 GUARANTOR SERVICES 19950208 DEVITO VERDI INC 330 HUDSON ST 16TH FLOOR NEW YORK NY 10013 CONSULTING SERVICES 3100059 TIKTOK INC PO BOX 894476 LOS ANGELES CA 90189 SOCIAL MEDIA 2188458 ALLIANTS LIMITED 4 UNIVERSAL MARIN SARISBURY GREEN SOUTHHAMPTON HAMPSHIRE UK SO317ZN DATA ENGINEERING 1872031 TAPJOY INC 30 3RD STREET SAN FRANCISCO CA 94103 SOCIAL MEDIA 1822822 53 410773 410773 LOST REVENUE REIMBURSE 900099 51617259 51617259 SPECIAL ACCOUNT MAINTE 900099 25426089 25426089 ACCOUNT MAINTENANCE FE 900099 6458099 6458099 DEFAULT AVERSION FEE 900099 1337531 1337531 REHABILITATED COLLECTI 900099 199882 199882 38204 38204 85077064 25612907 -245 25613152 382384057 380515291 1868766 1868766 1868766 OTHER INCOME 900099 153494 153494 153494 113123004 85077064 -245 27635412 9250341 9250341 5536395 4005369 1531026 7835759 6268607 1567152 1142499 913999 228500 1034366 827494 206872 1196817 954419 242398 915200 732160 183040 281110 224888 56222 3802249 115802 3686447 12180597 12180597 183047 146438 36609 3903165 3122533 780632 1919126 1535302 383824 647496 517997 129499 2775858 2220687 555171 3442558 2754047 688511 1335537 1068430 267107 3RD PARTY SERVICES FEE 26407288 26407288 CONSULTING & PROF. SERV 6762572 5368894 1393678 PROGRAM DEVELOPMENT FEE 2605801 2084641 521160 1937387 1549910 387477 95095168 82249843 12845325 0 16092362 21873231 69101017 3695536 30766313 1923992 1587803 19455286 9680064 10675387 9775222 741454651 833758586 87409909 135920618 14825510 11503699 945178364 1045185472 24912577 30328718 99155703 99258561 1511246 1593963 125579526 131181242 X 819598838 914004230 819598838 914004230 945178364 1045185472 18027836 76375248 2308 0 X 0 1 X 1 1 1 X X 1 NETWORK FOR TEACHING ENTREPRENEURSHIP 133408731 7 0 1000000 0 1 1000000 0 0.76450 0.15540 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 SECTION A, QUESTION 1: SUPPORTED ORGANIZATIONS ARE DESIGNATED BY CLASS. THE GOVERNING DOCUMENTS STATE THAT THE CORPORATION IS ORGANIZED AND SHALL BE OPERATED EXCLUSIVELY TO SUPPORT THE CHARITABLE AND EDUCATIONAL PURPOSES OF ORGANIZATIONS THAT (I) ARE DESCRIBED IN SECTION 509(A)(1) OR 509(A)(2) OF THE CODE AND (II) SUPPORT STUDENTS IN OBTAINING AN EDUCATION THAT WILL SUPPORT SUCCESSFUL AND MEANINGFUL CAREER OUTCOMES. SECTION A, QUESTION 5A: THE ORGANIZATION ADDED NETWORK FOR TEACHING ENTREPRENEURSHIP (EIN 13-3408731) AS A SUPPORTED ORGANIZATION. NETWORK FOR TEACHING ENTREPRENEURSHIP'S (NFTE'S) MISSION, TO ACTIVATE THE ENTREPRENEURIAL MINDSET AND BUILD STARTUP SKILLS IN YOUTH TO ENSURE THEIR SUCCESS, IS ALIGNED WITH THAT OF MASSACHUSETTS HIGHER EDUCATION ASSISTANCE CORPORATION (ASA). THE ADDITION OF NFTE AS A SUPPORTED ORGANIZATION IS AUTHORIZED BY ASA'S GOVERNING DOCUMENTS WHICH STATE THAT ASA SHALL SUPPORT THE CHARITABLE AND EDUCATIONAL PURPOSES OF ORGANIZATIONS THAT (I) ARE DESCRIBED IN SECTION 509(A)(1) OR 509(A)(2) OF THE CODE AND (II) SUPPORT STUDENTS IN OBTAINING AN EDUCATION THAT WILL SUPPORT SUCCESSFUL AND MEANINGFUL CAREER OUTCOMES. SECTION C, QUESTION 1: A MAJORITY OF THE MEMBERS OF ASA'S BOARD OF DIRECTORS ARE MEMBERS OF THE NFTE'S BOARD OF DIRECTORS. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 158237174 -158237174 138154558 20082616 158237174 112546240 25611554 3236 138154558 0.00000 0.00000 0.00000 3700339 1291959 2408380 598702 582199 16503 15156245 7805906 7350339 9775222 VENTURE CAPITAL INVESTMENT 4951518 F HEDGE FUND INVESTMENTS 71737289 F PRIVATE EQUITY INVESTMENTS 42303903 F OTHER INVESTMENTS 16927908 F 135920618 RESERVE FOR CONTINGENCIES 1381782 OTHER 212181 1593963 X 185840755 76375248 76375248 109465507 3657497 3657497 113123004 91437671 0 91437671 3657497 3657497 95095168 PART V, LINE 4: ASA PREVIOUSLY ESTABLISHED ASA FUND LLC ("ASA FUND", ALSO REFERRED TO AS "NEW PROGRAMS"), A SINGLE MEMBER LLC ESTABLISHED TO HOLD FUNDS DESIGNATED BY THE BOARD AS A QUASI-ENDOWMENT FOR THE BENEFIT OF THE NEW PROGRAMS. DURING 2021, ASA'S BOARD OF DIRECTORS RESOLVED TO CLOSE ASA FUND AS A SEPARATE ENTITY AND TO TRANSFER ALL ASSETS AND LIABILITIES BACK TO ASA. PART X, LINE 2: ASA ACCOUNTS FOR THE EFFECT OF ANY UNCERTAIN TAX POSITIONS BASED ON A "MORE LIKELY THAN NOT" THRESHOLD TO THE RECOGNITION OF THE TAX POSITIONS BEING SUSTAINED BASED ON THE TECHNICAL MERITS OF THE POSITION UNDER SCRUTINY BY THE APPLICABLE TAXING AUTHORITY. IF A TAX POSITION OR POSITIONS ARE DEEMED TO RESULT IN UNCERTAINTIES OF THOSE POSITIONS, THE UNRECOGNIZED TAX BENEFIT IS ESTIMATED BASED ON A "CUMULATIVE PROBABILITY ASSESSMENT" THAT AGGREGATES THE ESTIMATED TAX LIABILITY FOR ALL UNCERTAIN TAX POSITIONS. ASA HAS IDENTIFIED ITS TAX STATUS AS A TAX-EXEMPT ENTITY, ITS DETERMINATION OF WHICH ACTIVITIES ARE RELATED AND UNRELATED AND ITS PRESENTATION OF CERTAIN NET OPERATING LOSS CARRYFORWARDS AS ITS ONLY SIGNIFICANT TAX POSITIONS. ASA, HOWEVER, HAS DETERMINED THAT ITS POSITION RELATIVE TO TAX STATUS OR DETERMINATION OF WHICH ACTIVITIES ARE RELATED AND UNRELATED DOES NOT RESULT IN AN UNCERTAINTY REQUIRING RECOGNITION. THE POSITION ON LOSS CARRYFORWARDS IS UNCERTAIN AND THUS SUCH CARRYFORWARDS HAVE NOT BEEN RECOGNIZED AS TAX ASSETS. ASA IS NOT CURRENTLY UNDER EXAMINATION BY ANY TAXING JURISDICTION. ASA'S FEDERAL AND STATE TAX RETURNS ARE GENERALLY OPEN FOR EXAMINATION FOR THREE YEARS FOLLOWING THE DATE FILED. 1 APPRENTICE LEARNING PO BOX 3000-68 JAMAICA PLAIN MA 02130 455622649 501(C)(3) 150000 0 WORK-BASED LEARNING BIG PICTURE LEARNING 325 PUBLIC STREET PROVIDENCE RI 02972 050485883 501(C)(3) 500000 0 WORK-BASED LEARNING NETWORK FOR TEACHING ENTREPRENEURSHIP 120 WALL STREET 18TH FLOOR NEW YORK NY 10005 133408731 501(C)(3) 1000000 0 CAREER EXPLORATION NEW PROFIT INC 99 BEDFORD ST SUITE 500 BOSTON MA 02111 043396766 501(C)(3) 500000 0 POSTSECONDARY PATHWAYS NEW VENTURE FUND - CATALYZE CHALLENGE 1201 CONNECTICUT AVENUE NW NO 300 WASHINGTON DC 20036 205806345 501(C)(3) 1500000 0 CAREER EXPLORATION RODEL FOUNDATION OF DELAWARE 100 WEST 10TH STREET SUITE 704 WILMINGTON DE 19801 911944585 501(C)(3) 566666 0 CAREER EXPLORATION AMERICA SUCCEEDS 1390 LAWRENCE STREET SUITE 200 DENVER CO 80204 455334937 501(C)(3) 50000 0 CAREER READINESS CHICA PROJECT 1266 FURNACE BROOK PARKWAY SUITE 410 QUINCY MA 02169 453866647 501(C)(3) 100000 0 WORK-BASED LEARNING FLARE EDUCATION INC 288 WESTERN AVE CAMBRIDGE MA 02139 871145016 501(C)(3) 100000 0 WORK-BASED LEARNING RENNIE CENTER FOR EDUCATION RESEARCH AND POLICY 114 STATE STREET BOSTON MA 02109 510548106 501(C)(3) 100000 0 EDUCATION RESEARCH THE CENTER FOR BLACK EDUCATOR DEVELOPMENT 7901 HIDDEN LANE ELKINS PARK PA 19027 841814119 501(C)(3) 200000 0 CAREER EXPLORATION US CHAMBER OF COMMERCE FOUNDATION 1615 H STREET NW WASHINGTON DC 200622000 461561597 501(C)(3) 500000 0 WORK-BASED LEARNING ICOULDBE INC 222 BROADWAY 19TH FLOOR NEW YORK NY 10038 134151810 501(C)(3) 220000 0 CAREER EXPLORATION FREE TO DREAM INSTITUTE 3415 S SEPULVEDA BLVD SUITE 1100 LOS ANGELES CA 90034 883588384 501(C)(3) 500000 0 INFLUENCING CHANGE THE MASSACHUSETTS ALLIANCE FOR EARLY COLLEGE 588 BOSTON POST ROAD SUITE 150 WESTON MA 02493 873513195 501(C)(3) 150000 0 POSTSECONDARY PATHWAYS THE MASSACHUSETTS ALLIANCE FOR EARLY COLLEGE 588 BOSTON POST ROAD SUITE 150 WESTON MA 02493 873513195 501(C)(3) 25000 0 POSTSECONDARY PATHWAYS COBBLE HILL FARM EDUCATION & RESCUE CENTER INC 580 HENDERSON ROAD WILLIAMSTOWN MA 01267 883369166 501(C)(3) 10000 0 WORK-BASED LEARNING CONNECTED THE NATIONAL CENTER FOR COLLEGE AND CAREER 2150 SHATTUCK AVE SUITE 750 BERKELEY CA 94704 204781979 501(C)(3) 200000 0 POSTSECONDARY PATHWAYS BENJAMIN FRANKLIN CUMMINGS INSTITUTE OF TECHNOLOGY 41 BERKELEY ST BOSTON MA 02116 042103576 501(C)(3) 150000 0 POSTSECONDARY PATHWAYS MASTERY TRANSCRIPT CONSORTIUM PO BOX 485 WINCHESTER MA 01890 814974458 501(C)(3) 200000 0 WORK-BASED LEARNING CAPS NETWORK INC 7501 W 149TH TERRACE OVERLAND PARK KS 66223 854285822 501(C)(3) 145000 0 WORK-BASED LEARNING GPS EDUCATION PARTNERS INC N19W24075 RIVERWOOD DRIVE SUITE 300 WAUKESHA WI 53188 391667442 501(C)(3) 300000 0 WORK-BASED LEARNING INTERNATIONAL RESCUE COMMITTEE 122 EAST 42ND STREET NEW YORK NY 10168 135660870 501(C)(3) 100000 0 CAREER EXPLORATION COMMUNITY SHARE 634 NORTH JACOBUS AVENUE TUCSON AZ 85705 881108848 501(C)(3) 150000 0 WORK-BASED LEARNING BRIC FOUNDATION 5735 LEMP AVE NORTH HOLLYWOOD CA 91601 831408476 501(C)(3) 125000 0 CAREER EXPLORATION JUNIOR ACHEIVEMENT OF GREATER BOSTON 80 CITY SQUARE BOSTON MA 02129 042127020 501(C)(3) 100000 0 CAREER EXPLORATION NAF 218 WEST 40TH STREET 5TH FLOOR NEW YORK NY 10018 133480246 501(C)(3) 400000 0 WORK-BASED LEARNING 26 0 PART I, LINE 2: GRANT FUNDING IS MEMORIALIZED IN A WRITTEN GRANT FUNDING DOCUMENT WHICH SETS FORTH THE PURPOSES OF THE GRANT AND ELIGIBILITY CRITERIA. THE ORGANIZATION REQUIRES PERIODIC REPORTS AND CONDUCTS RANDOM REVIEWS OF GRANTEES TO ENSURE GRANT REQUIREMENTS ARE BEING MET. 1 X X X X X 1 0 0 0 0 0 0 1 0 JEAN EDDY PRESIDENT/CEO/DIRECTOR 490880 0 277200 0 12946 0 23100 0 12550 0 816676 0 0 0 RILWAN MEERAN VP MISSION IMPACT INVESTME 284681 0 150000 0 9430 0 13762 0 55236 0 513109 0 0 0 ANGELINE L CASTERA CHIEF PEOPLE OFFICER 267516 0 85500 0 10942 0 23100 0 52386 0 439444 0 0 0 CLAY COLARUSSO CMO & SVP DIGITAL STRATEGY 266350 0 96250 0 9430 0 22500 0 35627 0 430157 0 0 0 CAMERON F LOGAN PHD VICE PRESIDENT OF TECHNOLOGY 262671 0 70000 0 9862 0 10762 0 52193 0 405488 0 0 0 JOHN CHRISTOPHER SHEEHAN VP & GENERAL COUNSEL 270774 0 82800 0 10942 0 23100 0 15232 0 402848 0 0 0 JULIE LAMMERS SVP ADVOCACY CORP RESP 241350 0 87500 0 9430 0 22500 0 41118 0 401898 0 0 0 BARBARA MATEZ EVP & CFO (UNTIL 5/23) 228060 0 0 0 142040 0 10813 0 16213 0 397126 0 0 0 ALISA WILKE SVP PRODUCT DEVELOPMENT 232796 0 75000 0 10942 0 23100 0 52114 0 393952 0 0 0 JUDY GOLDSTEIN SVP PUBLIC RELATIONS COMMUNICATIONS 239916 0 87500 0 6664 0 23100 0 33503 0 390683 0 0 0 CARMELA CAPLAIN VICE PRESIDENT OF FINANCE 220330 0 67500 0 12184 0 21085 0 16996 0 338095 0 0 0 KYLE G MORIN VP, HEAD OF FINANCE 191445 0 60000 0 9160 0 18810 0 35766 0 315181 0 0 0 JAMES G SMITH VICE PRESIDENT OF MARKETING 196705 0 30900 0 9862 0 17196 0 36522 0 291185 0 0 0 ANDREW DYKE SR. DIRECTOR OF TECHNOLOGY 212565 0 33000 0 3640 0 17407 0 6172 0 272784 0 0 0 LEE WALDVOGEL SR PROGRAM DIR PARTNERS 161325 0 34000 0 3586 0 14511 0 40907 0 254329 0 0 0 ALAN WHITE SR. DIR. STR RES DATA ANALYSIS 167840 0 27300 0 3910 0 12762 0 41523 0 253335 0 0 0 MICHAEL D GRANT SENIOR DIRECTOR OF FINANACE 168205 0 30500 0 3640 0 14409 0 16502 0 233256 0 0 0 SANDY DAWKINS PMO PROGRAM DIRECTOR 155119 0 24070 0 4342 0 13247 0 19482 0 216260 0 0 0 PART I, LINE 4A BARBARA MAETZ RECEIVED SEVERNACE IN THE AMOUNT OF $135,794 IN CALENDAR YEAR 2023. PART I, LINE 7 ALL OFFICERS AND MEMBERS OF MANAGEMENT PARTICIPATE IN A SPECIAL INCENTIVE AWARD WHICH IS BASED UPON THE ORGANIZATION'S SUCCESS IN ACHIEVING KEY MILESTONES IN SUPPORT OF CORPORATE STRATEGIC OBJECTIVES DERIVED FROM MHEAC'S MISSION. THESE MILESTONES AND CRITERIA ARE IDENTIFIED IN ADVANCE AND APPROVED BY THE COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS. RECOMMENDATIONS BASED ON THE OVERALL LEVEL OF ACHIEVEMENT OF THOSE CORPORATE STRATEGIC OBJECTIVES ARE PRESENTED TO THE COMPENSATION COMMITTEE FOR DETERMINATION OF THE OVERALL AWARD POOL SIZE AS WELL AS INDIVIDUAL AWARD LEVELS, SUBJECT TO AN ANNUAL CAP, WITHIN THE POOL BASED ON INDIVIDUALS' RELATIVE CONTRIBUTIONS. PART II, COLUMN C: ASA MATCHES EMPLOYEES' CONTRIBUTIONS TO THE SECTION 403(B) PLAN UP TO A DISCRETIONARY PERCENTAGE SET ANNUALLY BY THE BOARD OF DIRECTORS IN ACCORDANCE WITH IRS GUIDELINES AND LIMITS. AMOUNTS ACCRUED AT YEAR END ARE INCLUDED IN SCHEDULE J, PART II, COLUMN C. FORM 990, PART III, LINE 2 THE ORGANIZATION UNDETOOK A COMMITMENT TO PROVIDE FUNDING TO ITS SUPPORTING ORGANIZATION. FORM 990, PART VI, SECTION A, LINE 4 THE ORGANIZATION'S GOVERNING DOCUMENTS WERE MODIFIED IN ORDER TO ALIGN WITH THE ORGANIZATION'S SUPPORTING ORGANIZATION STATUS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY CBIZ MHM, LLC OUR NATIONAL TAX SERVICES FIRM WITH INFORMATION PROVIDED BY THE ACCOUNTING MANAGER AND VICE PRESIDENT, HEAD OF FINANCE. THE FORM 990 IS REVIEWED BY THE ACCOUNTING MANAGER, VICE PRESIDENT, HEAD OF FINANCE, VICE PRESIDENT GENERAL COUNSEL, AND THE PRESIDENT/CEO. THE FULLY COMPLETED FORM 990 IS PROVIDED TO THE AUDIT COMMITTEE FOR REVIEW AND APPROVAL AND THEN PROVIDED TO THE ENTIRE BOARD OF DIRECTORS FOR REVIEW AND APPROVAL BEFORE IT IS ELECTRONICALLY SUBMITTED TO THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C ALL OFFICERS, BOARD MEMBERS AND KEY EMPLOYEES SHALL ANNUALLY SIGN A STATEMENT WHICH AFFIRMS THAT THE PERSON; HAS RECEIVED A COPY OF THE CONFLICTS OF INTEREST POLICY, HAS READ AND UNDERSTANDS THE POLICY, AND HAS AGREED TO COMPLY WITH THE POLICY. IN ADDITION, EACH DIRECTOR, PRINCIPAL OFFICER AND MEMBER OF A COMMITTEE WITH BOARD-ASSIGNED POWERS SHALL LIST HIS OR HER BUSINESS AFFILIATIONS, INCLUDING MEMBERSHIPS ON BOARDS OF OTHER NON-PROFIT INSTITUTIONS, AND SHALL ALSO DISCLOSE ANY BUSINESS RELATIONSHIPS THAT MEMBERS OF HIS OR HER FAMILY HAVE OR ARE SEEKING WITH AMERICAN STUDENT ASSISTANCE. HE OR SHE SHALL ALSO UPDATE THE STATEMENT AS APPROPRIATE DURING THE YEAR. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION REVIEWS FOR THE TOP MANAGEMENT OFFICIALS (PRESIDENT/CEO, EXECUTIVE VICE PRESIDENT AND CFO) AND MEMBERS OF SENIOR MANAGEMENT STAFF ARE CONDUCTED ANNUALLY BY THE COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS. SENIOR MANAGEMENT STAFF CONSISTS OF ALL VICE PRESIDENTS AND MANAGING DIRECTORS OF THE ORGANIZATION. PERIODICALLY, AN IN-DEPTH MARKET BENCHMARKING STUDY IS COMPILED FOR EACH SENIOR STAFF POSITION, INCLUDING THE CEO AND CFO, UTILIZING PUBLISHED, INDEPENDENT, THIRD-PARTY COMPENSATION SURVEYS TO COMPARE CURRENT BASE SALARIES AND TOTAL COMPENSATION WITH THE SAME OR SIMILAR POSITIONS IN THE BOSTON GEOGRAPHIC AREA, IN SIMILAR-SIZED ORGANIZATIONS, PRIMARILY IN THE FINANCIAL SERVICES, EDUCATION AND NOT-FOR-PROFIT SECTORS. ON A BI-ANNUAL BASIS, THE HUMAN RESOURCES DEPARTMENT ALSO EXAMINES FORM 990 DATA FROM SIMILAR ORGANIZATIONS AND ALSO OBTAINS A SEPARATE COMPENSATION ANALYSIS WITH COMPARATIVE MARKET DATA FROM AN INDEPENDENT COMPENSATION CONSULTANT. THIS COMPARABILITY DATA IS SYNTHESIZED INTO A DETAILED REPORT WITH THE MARKET RANGES AND EACH INCUMBENT'S POSITION IN THE RANGE AND INCLUDES COMPARATIVE BASE SALARY AND TOTAL COMPENSATION MARKET DATA. THIS REPORT IS PRESENTED TO THE PRESIDENT/CEO AND THE CFO WHO CONSIDER THE DATA AND MAKE DECISIONS REGARDING INDIVIDUAL SENIOR MANAGEMENT MERIT SALARY INCREASES. THE CEO PRESENTS THE FULL REPORT ALONG WITH THEIR PERFORMANCE REVIEWS AND SALARY RECOMMENDATIONS TO THE MEMBERS OF THE COMPENSATION COMMITTEE COMPRISED OF INDEPENDENT BOARD MEMBERS. THE COMPENSATION COMMITTEE DISCUSSES THE CEO'S DECISIONS FOR SENIOR MANAGEMENT STAFF. THE CEO ALSO REVIEWS AND MAKES A MERIT SALARY INCREASE RECOMMENDATION FOR THE CFO, WHICH IS ALSO PRESENTED TO THE COMPENSATION COMMITTEE FOR THEIR REVIEW AND APPROVAL. THE FULL BOARD OF DIRECTORS USES THE COMPARATIVE MARKET DATA TO REVIEW AND ESTABLISH THE COMPENSATION OF THE PRESIDENT/CEO. ANY ANNUAL INCENTIVE BONUS PLANS, THOUGH DISCRETIONARY, ARE ALSO APPROVED IN ADVANCE BY THE COMPENSATION COMMITTEE AND ANY PAYOUTS ARE DETERMINED BY THE COMPENSATION COMMITTEE BASED ON THE RESULTS OF PREVIOUSLY ESTABLISHED GOALS AND CRITERIA, OVERALL COMPANY PERFORMANCE, COMPARISON TO MARKET DATA, AND SUBJECT TO AN ANNUAL CAP. THE DELIBERATIONS AND DECISIONS OF THE COMPENSATION COMMITTEE ARE RECORDED CONTEMPORANEOUSLY IN THE MEETING MINUTES WHICH ARE RECORDED AND PRESERVED BY THE SPECIAL ASSISTANT TO THE PRESIDENT, ALONG WITH THE ANALYSIS DATA. KEY EMPLOYEES ARE NOT INCLUDED IN THE ABOVE-DESCRIBED COMPENSATION APPROVAL PROCESS. THEY ARE INCLUDED IN THE OVERALL PROCESS WHICH INCLUDES EMPLOYEES UNDER THEIR MANAGEMENT. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. ASA FUND I LLC 33 ARCH STREET SUITE 2100 BOSTON MA 02110 881527882 INVESTING AND HOLDING ASSETS MA 20244752 785347996 MHEAC NETWORK FOR TEACHING ENTREPRENEURSHIP 120 WALL STREET 18TH FLOOR NEW YORK NY 10005 133408731 EDUCATIONAL PROGRAMS NY 501(C)(3) LINE 7 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0