CALIFORNIA EDUCATION ASSISTANCE INC: Form 990, tax year 2021
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- Organization
- CALIFORNIA EDUCATION ASSISTANCE INC (EIN 95-3705585)
- Tax period
- 2021-07-01 to 2022-06-30
- Filed
- 2023-10-04
- IRS object ID
- 202302789349300010
- Schema version
- 2021v4.0
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
- Return header
- Form 990
- Schedule A
- Schedule D
- Schedule J
- Schedule N
- Schedule O
- Schedule R
- Reasonable Cause Explanation
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2023-10-04T19:57:21-07:00 | ReturnTs |
| Tax Period End | 2022-06-30 | TaxPeriodEndDt |
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2021-07-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 953705585 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CALIFORNIA EDUCATION ASSISTANCE INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | CALI | BusinessNameControlTxt |
| Phone | 3102428814 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 840 Apollo Street Suite 306 | AddressLine1Txt |
| City | El Segundo | CityNm |
| State Abbreviation | CA | StateAbbreviationCd |
| ZIP | 90245 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | William Hansen | PersonNm |
| Person Title | Chief Administrative Officer | PersonTitleTxt |
| Phone | 3109794700 | PhoneNum |
| Signature | 2023-10-04 | SignatureDt |
Additional Filer Information AdditionalFilerInformation
Trusted Customer TrustedCustomerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trusted Customer | 1 | TrustedCustomerCd |
| OOB Security Verification | 11 | OOBSecurityVerificationCd |
| Last Submission Rqr OOB | 0 | LastSubmissionRqrOOBCd |
| Authentication Assurance Level | AAL2 | AuthenticationAssuranceLevelCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2021 | TaxYr |
| Build TS | 2023-04-26 12:10:37Z | BuildTS |
Form 990 IRS990
Doing Business As Name DoingBusinessAsName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Cal Ed | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | William Markenson | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 840 Apollo Street | AddressLine1Txt |
| Address Line2 | Suite 306 | AddressLine2Txt |
| City | El Segundo | CityNm |
| State Abbreviation | CA | StateAbbreviationCd |
| ZIP | 90245 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $5,955,718 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | www.allslcinvestor.net | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1987 | FormationYr |
| Legal Domicile State | CA | LegalDomicileStateCd |
| Activity Or Mission | Expand education-related information outreach services to provide financial aid information and counseling to students, their families, and financial aid directors; and provide scholarships to individuals to assist them in pursuing an education. | ActivityOrMissionDesc |
| Contract Termination | Yes (X) | ContractTerminationInd |
| Voting Members Governing Body | 5 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 4 | VotingMembersIndependentCnt |
| Total Employee | 1 | TotalEmployeeCnt |
| Total Volunteers | 0 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $11,092,385 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $1,725,504 | CYProgramServiceRevenueAmt |
| PY Investment Income | $3,947 | PYInvestmentIncomeAmt |
| CY Investment Income | $1,137 | CYInvestmentIncomeAmt |
| PY Other Revenue | $0 | PYOtherRevenueAmt |
| CY Other Revenue | $4,229,077 | CYOtherRevenueAmt |
| PY Total Revenue | $11,096,332 | PYTotalRevenueAmt |
| CY Total Revenue | $5,955,718 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $272,138 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $146,382 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $12,031,822 | PYOtherExpensesAmt |
| CY Other Expenses | $2,889,450 | CYOtherExpensesAmt |
| PY Total Expenses | $12,303,960 | PYTotalExpensesAmt |
| CY Total Expenses | $3,035,832 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | -$1,207,628 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $2,919,886 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $475,895,632 | TotalAssetsBOYAmt |
| Total Assets EOY | $61,569,609 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $418,226,946 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $2,026,024 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $57,668,686 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $59,543,585 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | Conduct research on education and education-related issues, including without limitation early childhood education and the education of non-traditional students, and distribute the results to the public; Expand education-related information outreach services to provide financial aid information and counseling to students, their families, and financial aid directors; and provide scholarships to individuals to assist them in pursuing an education. | MissionDesc |
| Significant New Program Srvc | Yes (1) | SignificantNewProgramSrvcInd |
| Significant Change | Yes (1) | SignificantChangeInd |
| Expense | $1,926,092 | ExpenseAmt |
| Grant | $0 | GrantAmt |
| Revenue | $1,725,504 | RevenueAmt |
| Desc | To provide financing of FFELP loans authorized under the Higher Education Act of 1965, as amended, for the benefit and advancement of post secondary education. Revenue is earned through student loan interest generated from originated and purchased FFELP loans. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $0 | ExpenseAmt |
| Grant | $0 | GrantAmt |
| Revenue | $0 | RevenueAmt |
| Desc | Conduct research on education and education-related issues, including without limitation early childhood education and the education of non-traditional students, and distribute the results to the public; Expand education-related information outreach services to provide financial aid information and counseling to students, their families, and financial aid directors; and provide scholarships to individuals to assist them in pursuing an education. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Prog Srvc Expense | $0 | TotalOtherProgSrvcExpenseAmt |
| Total Other Prog Srvc Grant | $0 | TotalOtherProgSrvcGrantAmt |
| Total Other Prog Srvc Revenue | $0 | TotalOtherProgSrvcRevenueAmt |
| Total Program Service Expenses | $1,926,092 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (1) | DescribedInSection501c3Ind |
| Schedule B Required | 0 | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Lobbying Activities | 0 | LobbyingActivitiesInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | 0 | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | Yes (1) | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | 0 | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | 0 | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (1) | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | 0 | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | 0 | PYExcessBenefitTransInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | Yes (1) | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | 0 | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| Info In Schedule O Part V | Yes (X) | InfoInScheduleOPartVInd |
| IRP Document | 12 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 1 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 5 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 4 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | Yes (1) | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | 0 | MembersOrStockholdersInd |
| Election Of Board Members | 0 | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | CA | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | William R Hansen | PersonNm |
| Phone | 3109794700 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 840 Apollo Street Suite 306 | AddressLine1Txt |
| City | El Segundo | CityNm |
| State Abbreviation | CA | StateAbbreviationCd |
| ZIP | 90245 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (10 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd |
|---|---|---|---|---|---|---|---|
| William R Hansen | |||||||
| Chief Administrative Officer | 15 | 30 | Yes (X) | $0 | $362,284 | $69,065 | |
| William Markenson | |||||||
| CEO, Board Chairman (effective 9/1/2021) | 15 | 15 | Yes (X) | $46,698 | $309,904 | $37,440 | Yes (X) |
| Charles Bull | |||||||
| Board Chairman 7/1/2021 to 8/31/2021 | 5 | 10.00 | Yes (X) | $19,106 | $58,387 | $0 | Yes (X) |
| Arthur Baldonado | |||||||
| Director through 8/31/2021 | 5 | 5 | $17,531 | $52,687 | $0 | Yes (X) | |
| Yvonne Hall | |||||||
| Director through 8/31/2021 | 5 | 5 | $17,531 | $52,687 | $0 | Yes (X) | |
| Dr Juan Casillas | |||||||
| Director/Secretary through 8/31/2021 | 5 | 5 | Yes (X) | $16,031 | $52,687 | $0 | Yes (X) |
| Laura Johnson | |||||||
| Director effective 9/1/2021 | 5 | 0 | $8,000 | $0 | $0 | Yes (X) | |
| Janet Murillo | |||||||
| Director/Secretary effective 9/1/2021 | 5 | 0 | Yes (X) | $8,000 | $0 | $0 | Yes (X) |
| Paul Fromer | |||||||
| Director effective 9/1/2021 | 5 | 0 | $6,000 | $0 | $0 | Yes (X) | |
| Donald Sterling | |||||||
| Director | 5 | 0 | $6,000 | $0 | $0 | Yes (X) | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $144,897 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $888,636 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $106,505 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 0 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (4 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| Navient Solutions | |||||
| 11100 USA Parkway | Fishers | IN | 46037 | Loan Servicing | $491,940 |
| McDermott Will and Emery | |||||
| One Vanderbill Ave | New York | NY | 10017 | Legal | $257,450 |
| Nelnet Servicing | |||||
| 121 S 13th Street | Lincoln | NE | 68508 | Loan Servicing | $189,455 |
| M&T Bank | |||||
| 213 Market Street | Harrisburg | PA | 17101 | Financial Services | $102,000 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 4 | CntrctRcvdGreaterThan100KCnt |
| Total Contributions | $0 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | Student Loan Program | Desc |
| Business | 525990 | BusinessCd |
| Total Revenue Column | $1,725,504 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $1,725,504 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
Total Oth Program Service Rev TotalOthProgramServiceRevGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $1,725,504 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $1,053 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $1,053 | ExclusionAmt |
Incm From Invest Bond Proceeds IncmFromInvestBondProceedsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $84 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $84 | ExclusionAmt |
Royalties Revenue RoyaltiesRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $0 | RealAmt |
| Personal | $0 | PersonalAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $0 | SecuritiesAmt |
| Other | $0 | OtherAmt |
Other Revenue Misc OtherRevenueMiscGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | Management Fee Forgiveness | Desc |
| Business | 900099 | BusinessCd |
| Total Revenue Column | $4,229,077 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $4,229,077 | ExclusionAmt |
Miscellaneous Revenue MiscellaneousRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $4,229,077 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $5,955,718 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $1,725,504 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $4,230,214 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part IX | Yes (X) | InfoInScheduleOPartIXInd |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
| Program Services | $0 | ProgramServicesAmt |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
| Program Services | $0 | ProgramServicesAmt |
Foreign Grants ForeignGrantsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
| Program Services | $0 | ProgramServicesAmt |
Benefits To Members BenefitsToMembersGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
| Program Services | $0 | ProgramServicesAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $146,382 | TotalAmt |
| Program Services | $0 | ProgramServicesAmt |
| Management And General | $146,382 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $90,079 | TotalAmt |
| Program Services | $0 | ProgramServicesAmt |
| Management And General | $90,079 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $16,420 | TotalAmt |
| Program Services | $0 | ProgramServicesAmt |
| Management And General | $16,420 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $282,950 | TotalAmt |
| Program Services | $282,950 | ProgramServicesAmt |
| Management And General | $0 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $28,504 | TotalAmt |
| Program Services | $28,504 | ProgramServicesAmt |
| Management And General | $0 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $855,679 | TotalAmt |
| Program Services | $855,679 | ProgramServicesAmt |
| Management And General | $0 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Payments To Affiliates PaymentsToAffiliatesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,128,163 | TotalAmt |
| Program Services | $271,637 | ProgramServicesAmt |
| Management And General | $856,526 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $333 | TotalAmt |
| Program Services | $0 | ProgramServicesAmt |
| Management And General | $333 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Other Expenses OtherExpensesGrp (3 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt | FundraisingFundraisingAmt |
|---|---|---|---|---|
| Restructuring | $458,658 | $458,658 | $0 | $0 |
| Claim Payment Writeoffs | $21,548 | $21,548 | $0 | $0 |
| Rating Agency Monitoring | $7,000 | $7,000 | $0 | $0 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $116 | TotalAmt |
| Program Services | $116 | ProgramServicesAmt |
| Management And General | $0 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,035,832 | TotalAmt |
| Program Services | $1,926,092 | ProgramServicesAmt |
| Management And General | $1,109,740 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $16,244,269 | BOYAmt |
| EOY | $1,039,875 | EOYAmt |
Pledges And Grants Receivable PledgesAndGrantsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $513,584 | BOYAmt |
| EOY | $211,383 | EOYAmt |
Receivables From Officers Etc ReceivablesFromOfficersEtcGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Rcvbl From Disqualified Prsn RcvblFromDisqualifiedPrsnGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $456,589,106 | BOYAmt |
| EOY | $0 | EOYAmt |
Inventories For Sale Or Use InventoriesForSaleOrUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,548,673 | BOYAmt |
| EOY | $154,544 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $60,163,807 | EOYAmt |
Intangible Assets IntangibleAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $475,895,632 | BOYAmt |
| EOY | $61,569,609 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $11,904,201 | BOYAmt |
| EOY | $2,026,024 | EOYAmt |
Grants Payable GrantsPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Tax Exempt Bond Liabilities TaxExemptBondLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $99,123,953 | BOYAmt |
| EOY | $0 | EOYAmt |
Escrow Account Liability EscrowAccountLiabilityGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Loans From Officers Directors LoansFromOfficersDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Unsecured Notes Loans Payable UnsecuredNotesLoansPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $307,198,792 | BOYAmt |
| EOY | $0 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $418,226,946 | BOYAmt |
| EOY | $2,026,024 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $57,668,686 | BOYAmt |
| EOY | $59,543,585 | EOYAmt |
Donor Restriction Net Assets DonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $57,668,686 | BOYAmt |
| EOY | $59,543,585 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $475,895,632 | BOYAmt |
| EOY | $61,569,609 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | $2,919,886 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | -$1,044,987 | NetUnrlzdGainsLossesInvstAmt |
| Donated Services And Use Fclts | $0 | DonatedServicesAndUseFcltsAmt |
| Investment Expense | $0 | InvestmentExpenseAmt |
| Prior Period Adjustments | $0 | PriorPeriodAdjustmentsAmt |
| Other Changes In Net Assets | $0 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Publicly Supported Org509a2 | Yes (X) | PubliclySupportedOrg509a2Ind |
Gross Receipts Admissions GrossReceiptsAdmissionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $22,376,166 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $24,172,609 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $18,041,067 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $11,092,385 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $1,725,504 | CurrentTaxYearAmt |
| Total | $77,407,731 | TotalAmt |
Total509 Total509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $22,376,166 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $24,172,609 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $18,041,067 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $11,092,385 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $1,725,504 | CurrentTaxYearAmt |
| Total | $77,407,731 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Support Total509 | $77,407,731 | PublicSupportTotal509Amt |
Gross Investment Income509 GrossInvestmentIncome509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $249,000 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $394,898 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $221,522 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $3,947 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $1,137 | CurrentTaxYearAmt |
| Total | $870,504 | TotalAmt |
Investment Income And UBTI InvestmentIncomeAndUBTIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $249,000 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $394,898 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $221,522 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $3,947 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $1,137 | CurrentTaxYearAmt |
| Total | $870,504 | TotalAmt |
Other Income509 OtherIncome509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $559,375 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $537,991 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $550,000 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $0 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $4,229,077 | CurrentTaxYearAmt |
| Total | $5,876,443 | TotalAmt |
Total Support Calendar Year TotalSupportCalendarYearGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $23,184,541 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $25,105,498 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $18,812,589 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $11,096,332 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $5,955,718 | CurrentTaxYearAmt |
| Total | $84,154,678 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Support CY509 | 0.91983 | PublicSupportCY509Pct |
| Public Support PY509 | 0.97358 | PublicSupportPY509Pct |
| Investment Income CY | 0.01034 | InvestmentIncomeCYPct |
| Investment Income PY | 0.00971 | InvestmentIncomePYPct |
| Thirty Thr Pct Suprt Tests CY509 | Yes (X) | ThirtyThrPctSuprtTestsCY509Ind |
Form990 Schedule A Part VI Form990ScheduleAPartVIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Schedule A, Part III, Line 12 | FormAndLineReferenceDesc |
| Explanation | In fiscal year 2017 the gain on bonds repurchased and retired was $559,375. In fiscal year 2018 the gain on bonds repurchased and retired was $537,991. In fiscal year 2019 the gain on bonds repurchased and retired was $550,000. In fiscal year 2020 the was no Other Income. In fiscal year 2021 the supporting organization (ALLMC) forgave $4,229,077 of unpaid management fees. | ExplanationTxt |
Schedule D IRS990ScheduleD
Invst Program Related Org InvstProgramRelatedOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | Student Loan Finance Company | Desc |
| Book Value | $60,163,807 | BookValueAmt |
| Method Valuation | F | MethodValuationCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Program Rltd | $60,163,807 | TotalBookValueProgramRltdAmt |
| Federal Income Tax Liability | $0 | FederalIncomeTaxLiabilityAmt |
| Total Liability | $0 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Schedule D, Part X, Line 2 | FormAndLineReferenceDesc |
| Explanation | The Entity evaluated whether it had uncertain tax positions that should be recognized in the Entity's financial statements based on a recognition threshold and measurement process for financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. The accounting for uncertain tax positions also provides guidance on derecognition, classification, interest and penalties, accounting for interim periods, disclosures and transition. Based on management's evaluation of the Entity's tax positions for the open tax years, which are generally tax years 2018 to 2021 for federal and state tax jurisdictions except for California, which has open tax years of 2017 through 2021, management concluded that there are no significant uncertain tax positions requiring recognition in the Entity's financial statements at June 30, 2022 and 2021, respectively. Interest and penalties related to uncertain tax positions will be recognized in income tax expense when incurred. As of June 30, 2022 and 2021, the Entity had no interest and penalties related to uncertain tax positions. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | 0 | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | 0 | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | 0 | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | 0 | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | 0 | AnyNonFixedPaymentsInd |
| Initial Contract Exception | 0 | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (2 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| William R Hansen | ||||||||||||||
| Chief Administrative Officer | $0 | $330,950 | $0 | $0 | $0 | $31,334 | $0 | $19,500 | $0 | $49,565 | $0 | $431,349 | $0 | $0 |
| William Markenson | ||||||||||||||
| CEO, Board Chairman (effective 9/1/2021) | $46,698 | $282,359 | $0 | $0 | $0 | $27,545 | $0 | $8,500 | $0 | $28,940 | $46,698 | $347,344 | $0 | $0 |
Schedule N IRS990ScheduleN
Disposition Of Assets Detail DispositionOfAssetsDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Assets Distri Or Expnss Paid | Student loan indentures. | AssetsDistriOrExpnssPaidDesc |
| Distribution | 2021-08-31 | DistributionDt |
| Fair Market Value Of Asset | $61,208,794 | FairMarketValueOfAssetAmt |
| Method Of FMV Determination | Book value. | MethodOfFMVDeterminationTxt |
| EIN | 872319056 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ALL Indenture Operating Company Inc | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 840 Apollo Street | AddressLine1Txt |
| Address Line2 | Suite 306 | AddressLine2Txt |
| City | El Segundo | CityNm |
| State Abbreviation | CA | StateAbbreviationCd |
| ZIP | 90245 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRC Section | C Corporation | IRCSectionTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Director Of Successor2 | 0 | DirectorOfSuccessor2Ind |
| Employee Of Successor2 | 0 | EmployeeOfSuccessor2Ind |
| Owner Of Successor2 | 0 | OwnerOfSuccessor2Ind |
| Receive Compensation2 | 0 | ReceiveCompensation2Ind |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (10 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Form 990, Part III, Line 2 | On August 31, 2021 Access to Loans for Learning converted from a Section 150(d) qualified scholarship funding organization providing loans to students into a Section 501(c)(3) organization engaging in broader charitable educational activities. The Corporation also changed its name to California Educational Assistance, Inc. at that time. |
| Form 990, Part III, Line 3 | On August 31, 2021 Access to Loans for Learning converted from a Section 150(d) qualified scholarship funding organization providing loans to students into a Section 501(c)(3) organization engaging in broader charitable educational activities. At that time the organization divested of its student loan indentures to a wholly owned subsidiary. |
| Form 990, Part V, Line 2a | Corporation has one employee but relies on the supporting organization to provide operational services. |
| Form 990, Part VI, Section A, Line 4 | The Corporation amended the Articles of Incorporation to expand it's purposes to include conducting research on education related issues, expand outreach services to provide financial aid information and student counseling, and provide scholarships to individuals to assist them in pursuing an education. |
| Form 990, Part VI, Section A, Line 7a | The directors of corporation have the power to select or remove all officers, agents, and employees of the corporation; prescribe any powers and duties for them that are consistent with law, with the articles of incorporation and with the bylaws; and fix their compensation. |
| Form 990, Part VI, Section B, Line 11b | The Form 990 is prepared internally and reviewed by the ALLMC Chief Administrative Officer for completeness. After review by management, a final version of the Form 990 is sent for review to all CalEd board members prior to filing. The Board then communicates any Form 990 questions or issues they have with management. Any modifications required from this review are made prior to signature by an authorized corporate officer and filing. |
| Form 990, Part VI, Section B, Line 12c | The Corporation requires an annual conflict of interest statement by each of the directors, officers, and key employees of the organization. This statement certifies that the covered individual has received a copy of the Conflicts of Interest Policy; that he or she has read and understood the Conflicts of Interest Policy; and that he or she has agreed to comply with the Conflicts of Interest Policy. In addition, each is required to disclose any organizations in which he or she serves as a board member or receives compensation and also required to disclose any exceptions to this policy for the year. This statement is collected annually for each covered individual at the end of the fiscal year and is reviewed by the corporate counsel to insure compliance with the policy. |
| Form 990, Part VI, Section B, Line 15 | The Board of Directors of the Corporation determines the compensation of the CEO and corporate officers utilizing the services of an independent compensation consultant. This consultant provides a compensation analysis based on salary surveys of similar organizations provided every 2 or 3 years. The most recent analysis was performed in 2021. All proceedings related to compensation are recorded in the Board minutes. In the related entities, the directors of that Corporation determine the salaries of the Administrative Officer and other key employees (managing directors) by incorporating the report of the independent compensation consultant that uses salary surveys based on comparable organizations. |
| Form 990, Part VI, Section C, Line 19 | The organization's governing documents and annual information returns are available to the public upon request in accordance with the IRS exempt organization public disclosure requirements. Financial statements and conflict of interest policy are not made available to the public. |
| Form 990, Part IX, Line 24a - 24d | The amount on this line is for the restructuring of the loan with California Education Assistance, Inc (formerly known as Access to Loan for Learning Student Loan Corporation) to support its conversion from a Section 150(d) qualified scholarship funding organization providing loans to students to a Section 501(c)(3) organization engaging in broader charitable activities. |
Schedule R IRS990ScheduleR
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp (4 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Exempt Code SectionExemptCodeSectionTxt | Public Charity StatusPublicCharityStatusTxt | Direct Controlling NADirectControllingNACd | Controlled OrganizationControlledOrganizationInd |
|---|---|---|---|---|---|---|---|---|---|---|
| ALL Management Corporation | ||||||||||
| 840 Apollo Street Suite 306 | El Segundo | CA | 90245 | 954415401 | Management Services | CA | 501(c)(3) | 12 | N/A | 0 |
| ALL Student Loan Resources Corporation | ||||||||||
| 840 Apollo Street Suite 306 | El Segundo | CA | 90245 | 954627973 | Management Services | CA | 501(c)(3) | PF | N/A | 0 |
| ALL Student Credit Corporation | ||||||||||
| 840 Apollo Street Suite 306 | El Segundo | CA | 90245 | 954674774 | Financial Post Secondary Education | CA | 501(c)(3) | PF | N/A | 0 |
| ALL Student Loan Finance Corporation | ||||||||||
| 840 Apollo Street Suite 306 | El Segundo | CA | 90245 | 954674769 | Origination/Purchasing Student Loans | CA | 501(c)(3) | PF | N/A | 0 |
Id Related Org Txbl Corp Tr IdRelatedOrgTxblCorpTrGrp
Related Organization Name RelatedOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ALL Indenture Operating Company Inc | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 840 Apollo Street | AddressLine1Txt |
| Address Line2 | Suite 306 | AddressLine2Txt |
| City | El Segundo | CityNm |
| State Abbreviation | CA | StateAbbreviationCd |
| ZIP | 90245 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 872319056 | EIN |
| Primary Activities | Student Loans | PrimaryActivitiesTxt |
| Legal Domicile State | CA | LegalDomicileStateCd |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | California Education Assistance Inc | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Entity Type | C | EntityTypeTxt |
| Share Of Total Income | $100 | ShareOfTotalIncomeAmt |
| Share Of EOY Assets | $100 | ShareOfEOYAssetsAmt |
| Ownership | 1 | OwnershipPct |
| Controlled Organization | Yes (1) | ControlledOrganizationInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | 0 | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | 0 | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | 0 | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | Yes (1) | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | 0 | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | 0 | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | 0 | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | 0 | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | 0 | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | Yes (1) | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | 0 | SharingOfFacilitiesInd |
| Paid Employees Sharing | 0 | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | 0 | TransferToOtherOrgInd |
| Transfer From Other Org | Yes (1) | TransferFromOtherOrgInd |
Transactions Related Org TransactionsRelatedOrgGrp (3 entries)
| Transaction TypeTransactionTypeTxt | InvolvedInvolvedAmt | Method Of Amount DeterminationMethodOfAmountDeterminationTxt |
|---|---|---|
| ALL Management Corporation | ||
| d | $416,120 | Loan Agreement |
| ALL Management Corporation | ||
| m | $2,232,247 | Contractual agreement |
| ALL Management Corporation | ||
| s | $440,000 | Loan repayment |
Reasonable Cause Explanation ReasonableCauseExplanation
| Field | Value | IRS element (for citing) |
|---|---|---|
| Explanation | We believe that we had a reasonable cause to not e-file this return initially. We filed for an extension of the filing date to May 15, 2023 via form 8868 and received approval for this extension. Because the name of the corporation was changed since the last filing date we thought it was required to file a paper copy of the Form 990 in order to include the name change documentation with the return. The paper copy was completed including the name change documentation was and sent to the IRS on May 10, 2023. It was received by the IRS on May 12, 2023 IRS prior the extended filing deadline. We have since received a letter from the IRS dated 9/18/2023, reference 0422604607, stating that e-filing of this 990 was required. Therefore, we believe that we had reasonable cause for the delay in e-filing the 990 because of the corporate name change during this fiscal year. | ExplanationTxt |