2026-08-11T15:37:09-05:00 2025-09-30 410746749 CLIFTONLARSONALLEN LLP 1660 OSHKOSH AVE SUITE 200 OSHKOSH WI 54902 990 2024-10-01 920907062 INCEPTIA INCE 4024796623 PO BOX 82507 LINCOLN NE 68501 JILL HICKS CFO 4024796623 2026-08-11 1 1 KELCEY LEITL P01584977 9202315890 2026-08-03 2024 2025-03-06 01:10:19Z DAVID MACOUBRIE PO BOX 82507 LINCOLN NE 68501 36438139 0 X WWW.INCEPTIA.ORG X 2022 NE TO BE THE TRUSTED ADVISOR SUPPORTING LIFE-LONG LEARNING, EDUCATIONAL ACCESS AND SKILLS DEVELOPMENT. 6 5 0 0 0 0 40008683 0 1370587 3673052 6284346 10559309 0 0 47663616 14232361 0 0 0 0 0 1395739 0 0 0 17602528 15465073 17602528 16860812 30061088 -2628451 257336499 279238403 1916615 2207601 255419884 277030802 INCEPTIA HELPS EDUCATIONAL INSTITUTIONS STRENGTHEN RELATIONSHIPS AND BOOST ENROLLMENT USING SOLUTIONS THAT ENABLE STUDENTS TO NAVIGATE ADMISSIONS AND FINANCIAL AID, BORROW WISELY AND RESOLVE LOAN REPAYMENT CHALLENGES. 0 0 11523733 0 3673052 INCEPTIA PROVIDES FINANCIAL LITERACY EDUCATION TO SECONDARY AND HIGHER EDUCATION STUDENTS AND THEIR FAMILIES VIA AN ONLINE INTERACTIVE PLATFORM; ASSISTS STUDENTS AND PARENTS IN COMPLETING THE FAFSA VERIFICATION PROCESS; COUNSELS STUDENTS WHO HAVE NOT COMPLETED A DEGREE TO ENCOURAGE RE-ENROLLMENT AND DEGREE COMPLETION; AND ADVISES STUDENT LOAN BORROWERS ON THEIR REPAYMENT OBLIGATIONS AND PROVIDE INFORMATION ON TITLE IV REPAYMENT PLAN OPTIONS. 11523733 1 0 0 0 0 0 0 0 0 0 0 0 1 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 10 0 1 0 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 0 0 0 X JILL HICKS 4024796623 1300 O STREET LINCOLN NE 68508 DAVID A MACOUBRIE CEO/PRESIDENT 20.00 20.00 X X 183797 183798 54044 RICHARD VIERK CHAIR 3.00 3.00 X X 17900 17900 0 KIMBERLY RUSSEL DIRECTOR (THRU 12/2024) 1.00 1.00 X 5750 5750 0 GUY SAUNDERS DIRECTOR 1.00 1.00 X 6375 6375 0 ANTHONY GOINS DIRECTOR 1.00 1.00 X 5750 5750 0 JOSEPH KNECHT DIRECTOR 1.00 1.00 X 6250 6250 0 DAVID LECHNER DIRECTOR (AS OF 06/10/2024) 1.00 1.00 X 3250 6250 0 JILL M HICKS CFO/ SEC & TREAS 20.00 20.00 X 159017 159017 44880 MICHAEL JAY LUBBEN SVP BUSINESS DEV. (THRU 04/24) 40.00 0.00 X 366545 0 31935 SUSAN KAY DOWNING SENIOR VP MARKETING 40.00 0.00 X 243918 0 54823 WILLIAM LEONARD KOHL SENIOR VP PORTFOLIO MANAGEMENT 20.00 20.00 X 112039 112039 54042 DEANA MARIE UNGER VP OPERATIONS 40.00 0.00 X 234537 0 28282 ADAM DAVY VP BUSINESS DEV (AS OF 07/24) 40.00 0.00 X 68544 0 10429 CHRISTOPHER CAMPBELL AVP BUSINESS DEVELOPMENT 40.00 0.00 X 130124 0 20798 SHANNON JONES AVP BUSINESS DEVELOPMENT 40.00 0.00 X 142154 0 33813 MARK KRINGS VP CLIENT SERVICES 40.00 0.00 X 154429 0 56815 BRENDA SISEL AVP ACCOUNTING/FINANCE 20.00 20.00 X 61398 61398 44490 TIMOTHY ROETHIG AVP OPERATIONS-CONTACT CENTER 8.00 32.00 X 26717 106871 47214 RANDALL SCOTT HEESACKER FORMER CEO 0.00 0.00 X 0 426408 0 1928494 1097806 481565 0 1 1 0 MERCER INVESTMENTS LLC 800 MARKET STREET SUITE 1800 ST LOUIS MO 63102 INVESTMENT MGMT SERVICES 134948 ELEVATION MARKETING 275 E RIVULON BLVD SUITE 411 GILBERT AZ 85297 CONSULTING 132663 INSTRUCTURE INC 6330 SOUTH 3000 EAST SUITE 700 SALT LAKE CITY UT 841216237 SOFTWARE 108080 3 CALLING REVENUE 611710 2252128 2252128 STUDENT OUTREACH REVEN 611710 443477 443477 VERIFICATION REVENUE 611710 357790 357790 LOAN SUMMARY REVENUE 611710 242500 242500 FINANCIAL AVENUE REVEN 611710 211000 211000 166157 166157 3673052 8244221 8244221 24520866 22205778 2315088 2315088 2315088 14232361 3673052 0 10559309 1334570 595507 739063 61169 14474 46695 67792 67792 50885 50885 463590 463590 461267 374526 86741 98620 127 98493 131181 106948 24233 4424255 3709303 714952 262202 162775 99427 162484 13522 148962 103704 4554 99150 2123425 1318222 805203 1447607 1392241 55366 LEASED EMPLOYEES 5537919 3789226 1748693 DUES AND SUBSCRIPTIONS 50744 13687 37057 RECRUITMENT EXPENSE 23561 22379 1182 EMPLOYEE DEVELOPMENT 13943 2717 11226 41894 3525 38369 16860812 11523733 5337079 0 124428 31425 78164385 31476129 519301 934290 2770 143054528 212480466 34112652 34253717 1361205 59606 257336499 279238403 1000220 555100 238462 125334 677933 1527167 1916615 2207601 X 255419884 277030802 255419884 277030802 257336499 279238403 -2628451 24239369 0 X 0 1 X 1 0 X 202962628 40008683 0 242971311 872257 1370587 3673052 5915896 203834885 41379270 3673052 248887207 0 0 0 248887207 585040 7877502 8244221 16706763 585040 7877502 8244221 16706763 204419925 49256772 11917273 265593970 X 0 STUDENT LOAN INVESTMENTS 34253717 F 34253717 AMOUNT DUE TO NSLP 1527167 1527167 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. AT SEPTEMBER 30, 2025 AND 2024, THERE WERE NO UNCERTAIN TAX POSITIONS. ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN INCLUDED IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS. 1 0 0 0 0 0 0 0 0 RANDALL SCOTT HEESACKER FORMER CEO 0 0 0 0 0 426408 0 0 0 0 0 426408 0 426408 DAVID A MACOUBRIE CEO/PRESIDENT 149526 149526 26541 26542 7730 7730 18113 18113 8909 8909 210819 210820 0 0 MICHAEL JAY LUBBEN SVP BUSINESS DEV. (THRU 04/24) 71544 0 0 0 295001 0 22996 0 8939 0 398480 0 0 0 JILL M HICKS CFO/ SEC & TREAS 130004 130004 27508 27508 1505 1505 17829 17829 4611 4611 181457 181457 0 0 SUSAN KAY DOWNING SENIOR VP MARKETING 199401 0 42557 0 1960 0 28984 0 25839 0 298741 0 0 0 WILLIAM LEONARD KOHL SENIOR VP PORTFOLIO MANAGEMENT 89908 89908 19345 19345 2786 2786 16042 16042 10979 10979 139060 139060 0 0 DEANA MARIE UNGER VP OPERATIONS 192981 0 39896 0 1660 0 27953 0 329 0 262819 0 0 0 MARK KRINGS VP CLIENT SERVICES 140854 0 11915 0 1660 0 30278 0 26537 0 211244 0 0 0 TIMOTHY ROETHIG AVP OPERATIONS-CONTACT CENTER 24181 96725 2014 8056 522 2090 5299 21195 4144 16576 36160 144642 0 0 SHANNON JONES AVP BUSINESS DEVELOPMENT 130897 0 10077 0 1180 0 16316 0 17497 0 175967 0 0 0 BRENDA SISEL AVP ACCOUNTING/FINANCE 55407 55407 5497 5497 494 494 8716 8716 13529 13529 83643 83643 0 0 CHRISTOPHER CAMPBELL AVP BUSINESS DEVELOPMENT 109023 0 19993 0 1108 0 10206 0 10592 0 150922 0 0 0 PART I, LINE 3 THE RELATED ENTITY, NEBRASKA STUDENT LOAN PROGRAM, INC., HAS OUTSIDE LEGAL COUNSEL UNDERTAKE 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 2025. PART I, LINE 4A ON APRIL 5TH, 2024, MICHAEL JAY LUBBEN ENTERED INTO A VOLUNTARY SEPARATION AGREEMENT WITH NSLP. HE RECEIVED $262,287 IN SEVERANCE PAYMENTS. FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS SHALL CONSIST OF NO LESS THAN THREE (3) MEMBERS FROM THE BOARD OF DIRECTORS AS DESIGNATED BY A MAJORITY OF THE BOARD OF DIRECTORS AT THE ANNUAL MEETING. THE EXECUTIVE COMMITTEE SHALL HAVE AND EXERCISE THE AUTHORITY OF THE BOARD OF DIRECTORS PURSUANT TO THE NEBRASKA NONPROFIT CORPORATION ACT AT ALL TIMES WHEN A MEETING OF THE BOARD OF DIRECTORS IS NOT IN SESSION, PROVIDED, HOWEVER, THAT THE EXECUTIVE COMMITTEE SHALL NOT HAVE THE AUTHORITY TO AUTHORIZE ANY DISTRIBUTIONS IN EXCESS OF $1,000.00, APPROVE OR RECOMMEND THE MERGER, OR THE SALE, PLEDGE OR TRANSFER OF ALL OF THE CORPORATION'S ASSETS, ELECT, APPOINT OR REMOVE DIRECTORS ON ANY OF ITS COMMITTEES, OR ADOPT, AMEND OR REPEAL THE ARTICLES OR BYLAWS OF THE CORPORATION. THE EXECUTIVE COMMITTEE SHALL MEET AT SUCH TIMES AS THE BOARD OF DIRECTORS SHALL DETERMINE. THE EXECUTIVE COMMITTEE SHALL MAINTAIN A WRITTEN RECORD OF ITS PROCEEDINGS AND SHALL REPORT ITS PROCEEDINGS TO THE BOARD OF DIRECTORS AT THE NEXT MEETING OF THE FULL BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 6 NEBRASKA STUDENT LOAN PROGRAM, INC. (NSLP), A NOT-FOR-PROFIT CORPORATION, SERVES AS THE SOLE MEMBER OF INCEPTIA AND ELECTS INCEPTIA'S BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7A NEBRASKA STUDENT LOAN PROGRAM, INC. (NSLP), A NOT-FOR-PROFIT CORPORATION, SERVES AS THE SOLE MEMBER OF INCEPTIA AND ELECTS INCEPTIA'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 INCEPTIA 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 INCEPTIA 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 C, LINE 19 PUBLIC AVAILABILITY OF DOCUMENTS, POLICIES, AND FINANCIAL STATEMENTS: INCEPTIA DOES NOT MAKE THEIR GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, OR FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. FOUNDATION FOR EDUCATIONAL SERVICES INC PO BOX 82552 LINCOLN NE 68501 470703499 SUPPORTING ORG NE 501(C)(3) LINE 12B, II N/A 0 NEBRASKA STUDENT LOAN PROGRAM INC PO BOX 82507 LINCOLN NE 68501 363514573 SUPPORTING ORG NE 501(C)(3) LINE 10 FES 0 EDUCATIONQUEST FOUNDATION 1300 O STREET LINCOLN NE 68508 470606382 EDU SUPPORT NE 501(C)(3) LINE 10 FES 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 1 1 0 0 0