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FED RESERVE FUND 283671655 293418251 OTHER LIABILTIES 661090 661090 PART IV, LINE 2B TRELLIS PARTICIPATES IN THE FEDERAL FAMILY EDUCATION LOAN PROGRAM (FFELP) AND, AS SUCH, IS REQUIRED TO ESTABLISH A FEDERAL STUDENT LOAN RESERVE FUND (FEDERAL FUND) AND GUARANTY AGENCY OPERATING FUND (OPERATING FUND) TO ACCOUNT FOR THE FFELP ACTIVITIES. THE FEDERAL FUND ASSETS AND EARNINGS ON THOSE ASSETS ARE THE PROPERTY OF THE FEDERAL GOVERNMENT AND ARE LIMITED TO PAYING LENDER CLAIMS AND DEFAULT AVERSION FEES TO THE OPERATING FUND. ADDITIONAL ONGOING DEPOSITS INTO THE FEDERAL FUND INCLUDE REINSURANCE PAYMENTS, THE COMPLEMENT OF REINSURANCE ON DEFAULT COLLECTIONS, THE DEPARTMENT OF EDUCATION'S EQUITABLE SHARE OF COLLECTIONS, FEDERAL DEFAULT FEE CHARGED TO BORROWERS, AND THE FEDERAL FUND'S INTEREST INCOME. ALL OF THE NET ASSETS OF THE FEDERAL FUND ARE CONSIDERED TO BE CONDITIONAL CONTRIBUTIONS AND, AS SUCH, ARE NOT ASSETS OF THE GUARANTY AGENCY (TRELLIS). TRELLIS DOES HAVE CUSTODIAL RESPONSIBILITY AND INCLUDES AMOUNTS DUE TO OR PAYABLE BY THE FEDERAL FUND AS ASSETS AND LIABILITIES ON PART X OF FORM 990. 1 STARS SCHOLARSHIP FUND 3900 N MCCOLL RD MCALLEN TX 78501 431977563 501(C)(3) 10000 0 GENERAL SUPPORT AUSTIN COMMUNITY COLLEGE FOUNDATION 6101 HIGHLAND CAMPUS DR BLDG 3000 STE 4270 AUSTIN TX 78752 742639966 501(C)(3) 10000 0 GENERAL SUPPORT EL PASO COMMUNITY COLLEGE PO BOX 20500 EL PASO TX 79998 742452971 501(C)(3) 10000 0 GENERAL SUPPORT MCMURRY UNIVERSITY 1400 SAYLES BLVD ABILENE TX 79697 750855633 501(C)(3) 10000 0 GENERAL SUPPORT ALAMO COMMUNITY COLLEGE DISTRICT FOUNDATION INC ACCD FOUNDATION 1819 N MAIN AVE SAN ANTONIO TX 782123941 742422589 501(C)(3) 15000 0 GENERAL SUPPORT BORDERLANDS RESEARCH FOUNDATIONS PO BOX 794 ALPINE TX 79831 842822610 501(C)(3) 10000 0 GENERAL SUPPORT 6 0 PART I, LINE 2: ONCE APPROVED FOR FUNDING, EACH GRANTEE MUST REVIEW AND EXECUTE A GRANT AGREEMENT WITH TRELLIS. EXPECTATIONS FOR THE GRANTEES AND THEIR RESPECTIVE PROJECTS AND/OR USE OF FUNDS ARE OUTLINED IN THE GRANT AGREEMENT. REPORTING REQUIREMENTS ARE ALSO OUTLINED IN THE AGREEMENT. GRANTEES ARE INSTRUCTED TO PROVIDE PROGRESS REPORT(S), WHICH ARE REVIEWED BY GRANT MANAGEMENT STAFF TO DETERMINE IF THE GRANT EXPENDITURES ARE IN COMPLIANCE WITH REQUIREMENTS AND ARE ACHIEVING THE STATED GOALS OF THE PROGRAM. IF THERE ARE SIGNIFICANT ISSUES NOTED IN THE PROGRESS REPORT, STAFF WILL FOLLOW UP WITH THE GRANTEE. IF THERE ARE NO SIGNIFICANT ISSUES NOTED, STAFF PROCESS THE REPORT AND RECORD ACTIVITY. AT THE TERMINATION OF THE GRANT PERIOD, STAFF REVIEWS THE FINAL REPORT ON EACH PROJECT AND ACCOUNTS FOR ANY UNSPENT FUNDS AND ARRANGES FOR THE RETURN OF FUNDS OR OTHER DISPENSATION AS PROVIDED BY TRELLIS MANAGEMENT. X X X X X 0 0 0 0 0 0 0 1 0 DEBRA J CHROMY PRESIDENT/CEO 406660 0 148435 0 23756 0 45300 0 12643 0 636794 0 0 0 TIMOTHY J FOURNIER CHIEF OPERATING OFFICER 314203 0 122036 0 19459 0 43680 0 21485 0 520863 0 0 0 DAVID S SCHWANKE CFO 236260 0 42599 0 24099 0 39521 0 25060 0 367539 0 0 0 JAMES E ZIMMERMAN VP, INFORMATION TECHNOLOGY 192467 0 44384 0 21380 0 41769 0 21447 0 321447 0 0 0 BRYAN M ASHTON CHIEF STRATEGY AND GROWTH OFFICER 200898 0 54581 0 14558 0 35803 0 824 0 306664 0 0 0 SUSAN G HIGH VP, OPERATIONS 176417 0 40790 0 20116 0 38726 0 21109 0 297158 0 0 0 LINDA S HACKLEMAN VP, HUMAN RESOURCES 165880 0 34970 0 19003 0 34069 0 21891 0 275813 0 0 0 GREGORY H DICKENSON GENERAL COUNSEL 173336 0 36345 0 14627 0 28783 0 18669 0 271760 0 0 0 JOHN A SEIBERT OMBUDSMAN (UNTIL 10/2022) 67408 0 24640 0 122230 0 16851 0 19307 0 250436 0 0 0 JASON MICHAEL SWEENEY DIRECTOR, STRATEGIC INITIATIVES 151191 0 50049 0 5761 0 26062 0 11355 0 244418 0 0 0 JEFF J WEBSTER DIRECTOR, RESEARCH 148419 0 33458 0 14959 0 35683 0 10492 0 243011 0 0 0 CHANDRIKA M PADAKI DIRECTOR, IT SHARED SVCS 144177 0 32637 0 15318 0 27338 0 20100 0 239570 0 0 0 SARA T RAMBIKUR DIRECTOR, COMPLIANCE 145512 0 31711 0 9299 0 31286 0 616 0 218424 0 0 0 DANEN T SHIEK FORMER VP, SALES 23810 0 127 0 133470 0 23089 0 3461 0 183957 0 0 0 DONNA M FRITZ FORMER VP,MARKETING & COMMUNICATIONS 79931 0 36 0 21968 0 6237 0 7634 0 115806 0 0 0 PART I, LINE 7 TRELLIS' BOARD OF DIRECTORS' APPROVES THE CORPORATE PERFORMANCE AWARD PROGRAM WHICH IS DESIGNED TO AWARD BASED ON CORPORATE RESULTS. CORPORATE GOALS ARE APPROVED BY THE BOARD BEFORE THE BEGINNING OF THE FISCAL YEAR. ELIGIBLE EMPLOYEES INCLUDE ALL REGULAR EMPLOYEES, EMPLOYED AT THE END OF THE FISCAL YEAR, NOT PARTICIPATING IN ANOTHER DEPARTMENTAL OR INDIVIDUAL INCENTIVE PLAN, AND MEETING MINIMUM PERFORMANCE STANDARDS. EMPLOYEES TERMINATING MID-YEAR DUE TO DEATH, DISABILITY, OR RETIREMENT ARE ELIGIBLE FOR A PRORATED AWARD BASED ON THE PERCENT OF THE YEAR EMPLOYED. EMPLOYEE ELIGIBILITY IS BASED ON SPECIFIC POSITION UTILIZING COMPETITIVE MARKET BONUS RANGES. FORM 990, PART III, LINE 4A - GUARANTOR OPERATIONS: TRELLIS' GUARANTOR OPERATION ENCOMPASSES THE ADMINISTRATION OF THE FEDERAL FAMILY EDUCATION LOAN PROGRAM (FFELP) ON BEHALF OF THE U.S. DEPARTMENT OF EDUCATION (ED). AS OF FISCAL YEAR END, TRELLIS' OUTSTANDING LOAN PORTFOLIO BALANCE TOTALED $8.87 BILLION AND DEFAULTED LOANS COLLECTION PORTFOLIO OF $2.0 BILLION. PROGRAM SERVICE ACCOMPLISHMENTS: PROMOTING STUDENT BORROWER SUCCESS IS A LONG-TERM ENDEAVOR, STARTING BEFORE A STUDENT BORROWER ENROLLS IN COLLEGE AND LASTING THROUGH REPAYMENT. TRELLIS HAS A SET OF SPECIALIZED TEAMS - CUSTOMER ASSISTANCE, DEFAULT PREVENTION, CLAIMS AND DEFAULT RECOVERY - THAT SERVE BORROWERS THROUGHOUT THE STUDENT LOAN LIFECYCLE. THESE TEAMS EDUCATE STUDENT BORROWERS ABOUT LOANS AND THEIR REPAYMENT OPTIONS AND HELP THEM RETURN TO REPAYMENT IN THE EVENT OF DELINQUENCY OR DEFAULT. DEFAULT PREVENTION - TRELLIS WORKS WITH STUDENT LOAN BORROWERS, LENDERS, SERVICERS, AND THE DEPARTMENT OF EDUCATION (ED) TO HELP PREVENT DEFAULT ON STUDENT LOANS. LOAN COUNSELORS WORK WITH BORROWERS WHO HAVE ENTERED DELINQUENCY, EDUCATING THEM ON STUDENT LOAN REPAYMENT OPTIONS, INCLUDING DEFERMENTS, FORBEARANCES, AND INCOME-BASED REPAYMENT PLANS IN ORDER FOR BORROWERS TO SUCCESSFULLY REPAY THEIR FEDERAL STUDENT LOANS AND AVOID DEFAULT. IN FY23, THE TEAM RECEIVED 108,458 DEFAULT AVERSION ASSISTANCE REQUESTS FROM LENDERS AND SUCCESSFULLY AVERTED APPROXIMATELY $1.5 BILLION FROM DEFAULT. AS A RESULT, MORE BORROWERS RETURN TO AND MAKE PROGRESS IN REPAYMENT, WHICH ALLOWS THE BORROWERS TO AVOID THE NEGATIVE CONSEQUENCES OF DEFAULT, INCLUDING DAMAGED CREDIT AND THE LOSS OF ELIGIBILITY FOR FEDERAL STUDENT AID. CLAIMS - TRELLIS PROCESSES DEFAULT CLAIMS SUBMITTED BY LENDERS THAT HAVE BEEN UNSUCCESSFUL IN TRANSITIONING BORROWERS WITH DELINQUENT LOANS BACK INTO REPAYMENT. WHEN LENDERS SUBMIT CLAIMS ON TRELLIS GUARANTEED LOANS, TRELLIS VERIFIES THE LENDER'S COMPLIANCE WITH FFELP (FEDERAL FAMILY EDUCATION LOAN PROGRAM) REQUIREMENTS, AND, IF VALID, PURCHASES THE LOAN FROM THE LENDER AND BEGINS THE COLLECTION COUNSELING PROCESS. IN FY23, TRELLIS PROCESSED CLAIMS TOTALING APPROXIMATELY $366 MILLION. COLLECTIONS - UPON DEFAULT CLAIM PAYMENT, TRELLIS IS STATUTORILY REQUIRED TO PURSUE COLLECTION EFFORTS ON BEHALF OF THE FEDERAL GOVERNMENT ON ALL TRELLIS GUARANTEED STUDENT LOANS. WHILE THE COLLECTION TEAM'S CORE RESPONSIBILITY IS TO RECOVER TAXPAYER ASSETS, TRELLIS WORKS WITH BORROWERS TO OBTAIN THE BEST OPTION FOR THEM TO RESOLVE THEIR DEFAULT. THE GOAL IS TO HELP THE BORROWER RETURN TO REPAYMENT AND SUCCESSFULLY MANAGE THEIR LOAN. IN MARCH 2021, IN RESPONSE TO THE PANDEMIC, GUARANTORS LIKE TRELLIS WERE ASKED TO PLACE COLLECTIONS FOR STUDENT LOAN BORROWERS ON HOLD AND RETURN PAYMENTS TO BORROWERS RECEIVED SINCE MARCH 20, 2020. ED REIMBURSED TRELLIS FOR THOSE REFUNDS FROM THE FEDERAL FUND AND PROVIDED A LOST REVENUE PAYMENT TO GUARANTORS FOR FORGONE COLLECTIONS DURING THE PANDEMIC ALSO PAID FROM THE FEDERAL FUND. THE PANDEMIC PAYMENT PAUSE FOR BORROWERS ENDED AUGUST 28, 2023. FROM THE END OF THE PAUSE PERIOD THROUGH SEPTEMBER 30, 2023, ED PROVIDED A SPECIAL AMF PAYMENT TO GUARANTORS FOR THE ADMINISTRATION OF THE FFELP PROGRAM. IN FY23, TRELLIS' DEFAULT RECOVERY TEAM SET UP NEW REPAYMENT PLANS FOR 1,551 BORROWERS. OF THOSE NEW REPAYMENT PLANS, 78.8 PERCENT STARTED BORROWERS ON BENEFICIAL REHABILITATION PROGRAMS, THE BEST SOLUTION FOR BORROWERS WITH DEFAULTED LOANS. IN FY23, TRELLIS COLLECTED APPROXIMATELY $21 MILLION IN DEFAULTED STUDENT LOANS. FORM 990, PART III, LINE 4B - NON-GUARANTOR OPERATIONS: TRELLIS' NON-GUARANTOR OPERATIONS INCLUDE HIGH-QUALITY RESEARCH TO HELP INSTITUTIONS, POLICY MAKERS, AND OTHER STAKEHOLDERS UNDERSTAND THE STATE OF POST-SECONDARY EDUCATION. THIS WORK LEADS TO OPPORTUNITIES TO SUPPORT INSTITUTIONS OF HIGHER EDUCATION IN MAKING STRATEGIC PIVOTS TO BETTER SERVE STUDENTS. ADDITIONALLY, TRELLIS PROVIDES A VARIETY OF SERVICES TARGETED AT ENHANCING THE HIGHER EDUCATION COMMUNITY AND CREATING POSITIVE STUDENT OUTCOMES, INCLUDING: RESEARCH AND PUBLIC POLICY SERVICES: TRELLIS PROVIDES EXTENSIVE RESEARCH SERVICES THAT ARE TARGETED AT UNDERSTANDING CONSUMER EXPERIENCE RELATED TO FINANCING, PARTICIPATING, AND PERSISTING IN HIGHER EDUCATION. THESE SERVICES ARE UTILIZED TO BETTER UNDERSTAND THE CHALLENGES ASSOCIATED WITH POST-SECONDARY FINANCING AND PARTICIPATION AND ARE USED TO INFORM CAMPUS ADMINISTRATORS, STUDENT SERVICE PROVIDERS AND POLICY MAKERS. TRELLIS ADMINISTERS A WIDE VARIETY OF QUALITATIVE AND QUANTITATIVE RESEARCH THROUGHOUT THE YEAR TO SUPPORT THESE GOALS. STUDENT SUPPORT SERVICES- TRELLIS PROVIDES VARIOUS SUPPORT SERVICES ALIGNED TOWARD ASSISTING STUDENTS IN NAVIGATING THE COLLEGE ACCESS AND COMPLETION JOURNEY. THESE SERVICES INCLUDE: * FINANCIAL COACHING SERVICES (WHICH PROVIDES IN DEPTH ONE ON ONE CONSULTATIONS REGARDING STUDENT FINANCES), * SUPPORT SERVICES FOR FILLING OUT THE FREE APPLICATION FOR FEDERAL STUDENT AID (FAFSA), * STUDENT FINANCIAL LITERACY RESOURCES, * COMMUNICATION SERVICES TO HELP STUDENTS START AND STAY IN COLLEGE, AND * A FREE, PUBLIC-ACCESS WEBSITE MOSAIEC (MOSAIEC.ORG) TO PROVIDE RESOURCES ABOUT HOW AND WHY TO PAY FOR COLLEGE, * DEFAULT PREVENTION SERVICES TO STUDENTS PRIOR TO DEFAULT, * SUPPORT TO ASSIST STUDENTS WHO HAVE STOPPED-OUT TO RETURN TO COMPLETE THE DEGREE. INSTITUTIONAL SUPPORT SERVICES: TRELLIS PROVIDES SUPPORT RESOURCES FOR COLLEGES AND UNIVERSITIES TO ASSIST IN DEVELOPING CAPACITY ON CAMPUS. THESE SERVICES SUPPORT THE DEVELOPMENT OF POLICIES, PROCEDURES AND PROGRAMS THAT ASSIST IN HELPING MORE STUDENTS OBTAIN A POSTSECONDARY DEGREE OR CREDENTIAL. FORM 990, PART VI, SECTION A, LINE 2 THE FOLLOWING TRELLIS COMPANY EMPLOYEES, AS OFFICERS/DIRECTORS OF TRELLIS HOLDINGS, HAVE A BUSINESS RELATIONSHIP: - DEBRA J. CHROMY - GREG DICKENSON FORM 990, PART VI, SECTION B, LINE 11B TRELLIS' ACCOUNTING DEPARTMENT WORKS WITH ITS CPA FIRM TO PREPARE THE 990. ONCE A FINAL DRAFT IS AVAILABLE, IT IS SUBMITTED TO EXECUTIVE MANAGEMENT FOR REVIEW. ONCE ALL QUESTIONS HAVE BEEN RESOLVED, THE RETURN, IN ITS FINAL FORM, IS PROVIDED TO THE TRELLIS BOARD OF DIRECTORS FOR THEIR REVIEW. FORM 990, PART VI, SECTION B, LINE 12C TRELLIS' CODE OF BUSINESS CONDUCT IS A POLICY WHICH ALL EMPLOYEES, OFFICERS, AND DIRECTORS MUST AGREE TO. WITHIN THE CODE OF BUSINESS CONDUCT, MANAGERS, KEY EMPLOYEES, AND OFFICERS AND DIRECTORS ARE REQUIRED TO DISCLOSE ANY BUSINESS INTERESTS OUTSIDE OF TRELLIS. TRELLIS' LEGAL COUNSEL PROACTIVELY REVIEWS AND ACTS ON POTENTIAL CONFLICTS. ACTUAL CONFLICTS, SHOULD THEY OCCUR, MAY RESULT IN DISCIPLINARY ACTION, UP TO AND INCLUDING TERMINATION AND POSSIBLE CRIMINAL PROSECUTION. TRELLIS EMPLOYEES ARE REQUIRED TO COMPLETE PERIODIC TRAINING FOR TRELLIS' CODE OF BUSINESS CONDUCT. FORM 990, PART VI, SECTION B, LINE 15 TRELLIS CONTRACTS WITH A THIRD-PARTY CONSULTANT TO PROVIDE BENCHMARK DATA FOR TRELLIS EMPLOYEES AND OFFICERS, INCLUDING ANNUAL COMPENSATION STUDIES WHICH ARE PRESENTED TO THE TRELLIS BOARD OF DIRECTORS FOR THEIR REVIEW. IN 2022, AND MOST RECENTLY IN 2024, TRELLIS ENGAGED A THIRD-PARTY CONSULTANT TO PERFORM A COMPENSATION ANALYSIS FOR ALL EMPLOYEES AND BOARD POSITIONS. THE BOARD ADOPTED THE CONSULTANT'S 2022 RECOMMENDATIONS.WHILE THE 2024 COMPENSATION ASSESSMENT REMAINS IN PROGRESS. THE THIRD-PARTY CONSULTANTS USE COMPENSATION DATA FOR SIMILARLY QUALIFIED PERSONS IN COMPARABLE POSITIONS FOR BOTH OFFICERS AND KEY EMPLOYEES IN SIMILAR ORGANIZATIONS. DOCUMENTATION TO SUPPORT BENCHMARK DECISIONS REGARDING COMPENSATION ARRANGEMENTS FOR ALL EMPLOYEES IS RETAINED. THE BENCHMARKING PROCESS USED TO DETERMINE COMPENSATION FOR OFFICER AND EMPLOYEE POSITIONS OCCURS PERIODICALLY. THE BOARD OF DIRECTORS SPECIFICALLY REVIEWS EXECUTIVE MANAGEMENT COMPENSATION BENCHMARKS AND APPROVES ANNUAL ADJUSTMENTS AND/OR MERIT INCREASES AS RECOMMENDED BY THE PRESIDENT/CEO. ANNUALLY, THE BOARD MAKES SPECIFIC DECISIONS OF THE PRESIDENT/CEO'S SALARY. DECISIONS REGARDING COMPENSATION ARE DOCUMENTED. FORM 990, PART VI, SECTION C, LINE 19 TRELLIS' CODE OF BUSINESS CONDUCT IS AVAILABLE TO ALL EMPLOYEES AND THE PUBLIC VIA TRELLIS' WEBSITE: WWW.TRELLISCOMPANY.ORG. TRELLIS' AUDITED FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: UNREALIZED LOSS ON SUBSIDIARY -10,009,628. TRELLIS HOLDINGS PO BOX 6714 ROUND ROCK TX 78683 742748786 COLLECTION AG TX TX GUARANTEED STUDENT LOAN CORP C 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 1 0 1