2023-10-04T19:57:21-07:00 2022-06-30 990 2021-07-01 953705585 CALIFORNIA EDUCATION ASSISTANCE INC CALI 3102428814 840 Apollo Street Suite 306 El Segundo CA 90245 William Hansen Chief Administrative Officer 3109794700 2023-10-04 1 11 0 AAL2 2021 2023-04-26 12:10:37Z Cal Ed William Markenson 840 Apollo Street Suite 306 El Segundo CA 90245 5955718 0 X www.allslcinvestor.net X 1987 CA 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. X 5 4 1 0 0 0 0 0 11092385 1725504 3947 1137 0 4229077 11096332 5955718 0 0 0 0 272138 146382 0 0 0 12031822 2889450 12303960 3035832 -1207628 2919886 475895632 61569609 418226946 2026024 57668686 59543585 X 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. 1 1 1926092 0 1725504 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. 0 0 0 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. 0 0 0 1926092 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 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 1 0 1 0 0 0 1 X 12 0 1 1 1 0 0 0 0 0 0 0 0 X 5 4 0 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA X William R Hansen 3109794700 840 Apollo Street Suite 306 El Segundo CA 90245 William R Hansen Chief Administrative Officer 15 30 X 0 362284 69065 William Markenson CEO, Board Chairman (effective 9/1/2021) 15 15 X X 46698 309904 37440 Charles Bull Board Chairman 7/1/2021 to 8/31/2021 5 10.00 X X 19106 58387 0 Arthur Baldonado Director through 8/31/2021 5 5 X 17531 52687 0 Yvonne Hall Director through 8/31/2021 5 5 X 17531 52687 0 Dr Juan Casillas Director/Secretary through 8/31/2021 5 5 X X 16031 52687 0 Laura Johnson Director effective 9/1/2021 5 0 X 8000 0 0 Janet Murillo Director/Secretary effective 9/1/2021 5 0 X X 8000 0 0 Paul Fromer Director effective 9/1/2021 5 0 X 6000 0 0 Donald Sterling Director 5 0 X 6000 0 0 144897 888636 106505 0 0 1 0 Navient Solutions 11100 USA Parkway Fishers IN 46037 Loan Servicing 491940 McDermott Will and Emery One Vanderbill Ave New York NY 10017 Legal 257450 Nelnet Servicing 121 S 13th Street Lincoln NE 68508 Loan Servicing 189455 M&T Bank 213 Market Street Harrisburg PA 17101 Financial Services 102000 4 0 Student Loan Program 525990 1725504 1725504 0 0 0 0 0 0 1725504 1053 0 0 1053 84 0 0 84 0 0 0 0 0 0 0 0 Management Fee Forgiveness 900099 4229077 0 0 4229077 0 0 0 0 4229077 5955718 1725504 0 4230214 X 0 0 0 0 0 0 0 0 146382 0 146382 0 90079 0 90079 0 16420 0 16420 0 282950 282950 0 0 28504 28504 0 0 855679 855679 0 0 1128163 271637 856526 0 333 0 333 0 Restructuring 458658 458658 0 0 Claim Payment Writeoffs 21548 21548 0 0 Rating Agency Monitoring 7000 7000 0 0 116 116 0 0 3035832 1926092 1109740 0 0 0 16244269 1039875 0 0 513584 211383 0 0 0 0 456589106 0 0 0 2548673 154544 0 0 0 60163807 0 0 0 0 475895632 61569609 11904201 2026024 0 0 0 0 99123953 0 0 0 0 0 0 0 0 0 307198792 0 418226946 2026024 X 57668686 59543585 0 0 57668686 59543585 475895632 61569609 2919886 -1044987 0 0 0 0 X 0 1 X 1 0 X 22376166 24172609 18041067 11092385 1725504 77407731 22376166 24172609 18041067 11092385 1725504 77407731 77407731 249000 394898 221522 3947 1137 870504 249000 394898 221522 3947 1137 870504 559375 537991 550000 0 4229077 5876443 23184541 25105498 18812589 11096332 5955718 84154678 0.91983 0.97358 0.01034 0.00971 X Schedule A, Part III, Line 12 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. Student Loan Finance Company 60163807 F 60163807 0 0 X Schedule D, Part X, Line 2 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. X 0 0 0 0 0 0 0 0 0 William R Hansen Chief Administrative Officer 0 330950 0 0 0 31334 0 19500 0 49565 0 431349 0 0 William Markenson CEO, Board Chairman (effective 9/1/2021) 46698 282359 0 0 0 27545 0 8500 0 28940 46698 347344 0 0 Student loan indentures. 2021-08-31 61208794 Book value. 872319056 ALL Indenture Operating Company Inc 840 Apollo Street Suite 306 El Segundo CA 90245 C Corporation 0 0 0 0 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. 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 ALL Indenture Operating Company Inc 840 Apollo Street Suite 306 El Segundo CA 90245 872319056 Student Loans CA California Education Assistance Inc C 100 100 1 1 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 ALL Management Corporation d 416120 Loan Agreement ALL Management Corporation m 2232247 Contractual agreement ALL Management Corporation s 440000 Loan repayment 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.