2025-05-27T08:51:27-05:00 2024-09-30 410746749 CLIFTONLARSONALLEN LLP 220 S 6TH STREET SUITE 300 MINNEAPOLIS MN 55402 990 2023-10-01 363514573 NEBRASKA STUDENT LOAN PROGRAM INC NEBR 4024796623 PO BOX 82507 LINCOLN NE 68501 JILL HICKS CFO 4024796623 2025-05-22 1 1 ANN NEIL P01817922 6123764500 2025-05-22 2023 2025-03-06 01:10:19Z DAVID MACOUBRIE PO BOX 82507 LINCOLN NE 68501 15184786 0 X WWW.NSLP.ORG X 1986 NE TO BE A DEFINITIVE VOICE IN HIGHER EDUCATION AND STUDENT SUCCESS. POISED TO ENLIGHTEN, GUIDE AND SUPPORT HIGHER EDUCATION AND ITS STAKEHOLDERS IN THEIR MISSION. X 7 6 7 0 0 0 0 0 25056919 12303789 11991621 2685704 0 0 37048540 14989493 202962628 40008683 0 0 1521989 612748 0 0 0 16212815 6829877 220697432 47451308 -183648892 -32461815 60108049 28792043 6570479 7686714 53537570 21105329 TO BE A DEFINITIVE VOICE IN HIGHER EDUCATION AND STUDENT SUCCESS. POISED TO ENLIGHTEN, GUIDE AND SUPPORT HIGHER EDUCATION AND ITS STAKEHOLDERS IN THEIR MISSION. 0 0 45400458 40008683 12303789 THE ORGANIZATION SERVES AS A GUARANTEE AGENCY UNDER THE FEDERAL FAMILY EDUCATION LOAN PROGRAM (FFELP), AS APPROVED BY THE DEPARTMENT OF EDUCATION. 45400458 1 0 0 0 0 0 0 0 0 0 0 0 0 1 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 1 0 1 1 1 0 0 1 19 0 1 7 1 0 0 0 0 0 0 0 0 0 0 0 0 X 7 6 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X JILL HICKS 4024796623 1300 O STREET LINCOLN NE 68508 RANDALL SCOTT HEESACKER CEO (THRU OCT 2023) 20.00 20.00 X X 476645 0 59496 DAVID A MACOUBRIE CEO (AS OF OCT 2023) 20.00 20.00 X X 309380 0 57308 JILL M HICKS CFO 20.00 20.00 X 301783 0 43014 MICHAEL JAY LUBBEN SENIOR VP BUSINESS DEVELOPMENT 0.00 40.00 X 233364 0 52200 SUSAN KAY DOWNING SENIOR VP MARKETING 0.00 40.00 X 233089 0 54299 WILLIAM LEONARD KOHL SENIOR VP PORTFOLIO MANAGEMENT 20.00 20.00 X 216389 0 48389 DEANA MARIE UNGER VP OPERATIONS 0.00 40.00 X 49261 126252 27288 PAMELA SUE BECKMANN SR. DIRECTOR CUSTOMER SVC & STUDENT ENGAGEMENT 0.00 40.00 X 0 151014 46752 MARK E KRINGS VP CLIENT SERVICES 0.00 40.00 X 0 148180 58382 KRISTA BROOKE ODBERT AVP PRODUCT DEVELOPMENT 0.00 40.00 X 0 133435 28087 SHANNON R JONES AVP BUSINESS DEVELOPMENT 0.00 40.00 X 0 123574 40174 TIMOTHY JON ROETHIG AVP CONTACT CENTER OPS 0.00 40.00 X 0 122058 45731 RICHARD VIERK CHAIR 0.50 0.50 X X 40550 0 0 KIMBERLY RUSSEL DIRECTOR 0.50 0.50 X 13750 0 0 GUY SAUNDERS DIRECTOR 0.50 0.50 X 15000 0 0 ANTHONY GOINS DIRECTOR 0.50 0.50 X 10500 0 0 JOSEPH KNECHT DIRECTOR 0.50 0.50 X 14000 0 0 DAVID LECHNER DIRECTOR 0.50 0.50 X 0 0 0 1913711 804513 561120 6 0 1 0 NELNET GUARANTEE SERVICES 121 SOUTH 13TH STREET LINCOLN NE 68508 LOAN SERVICING 1822660 DYNAMO LLC 1915 SOUTH 64TH AVE OMAHA NE 68106 CONSULTING 220715 BRETT LIEF 448 OCEAN AVE 17B LONG BRANCH NJ 07740 CONSULTING 188820 KEATING O'GARA NEDVED & PETER PC 200 SOUTH 21ST ST SUITE 400 LINCOLN NE 68510 LEGAL SERVICES 157700 CLIFTONLARSONALLEN 220 SOUTH 6TH ST UNIT 300 MINNEAPOLIS MN 55402 AUDIT SERVICES 112090 6 DEPT OF ED TRANSITION 900099 11426783 11426783 ACCT MAINTENANCE FEE 900099 837697 837697 RECOVERY REVENUE 900099 35334 35334 OTHER INCOME 900099 3975 3975 12303789 2631276 2631276 249721 195293 54428 54428 54428 14989493 12303789 0 2685704 40008683 40008683 612748 134851 477897 31941 31941 48672 48672 225553 225553 55687 44398 11289 1517573 1150440 367133 243274 144758 98516 8766 1363 7403 4109 641 3468 477080 283883 193197 142667 84893 57774 LEASED EMPLOYEES 1674027 1147627 526400 SERVICING FEES 1616046 1616046 DEFAULT AVERSION FEE 454613 454613 POST-DEFAULT FEES 10512 10512 319357 92197 227160 47451308 45400458 2050850 0 2490159 3018781 48162793 15805006 2179604 868963 64940 0 1011477 1309676 746371 478402 5452705 7311215 60108049 28792043 1090701 1060016 123859 70433 5355919 6556265 6570479 7686714 X 53537570 21105329 53537570 21105329 60108049 28792043 -32461815 29574 0 X X 0 1 X 1 1 1 X 18042731 16600236 38194705 24017341 12299814 109154827 3367726 2296604 1494821 1039578 3975 8202704 21410457 18896840 39689526 25056919 12303789 117357531 0 0 0 117357531 3906488 3211242 4599509 8681908 2631276 23030423 3906488 3211242 4599509 8681908 2631276 23030423 25316945 22108082 44289035 33738827 14935065 140387954 0.83600 0.84260 0.16400 0.15740 X 0 OTHER ASSETS 774980 NET ASSETS HELD ON BEHALF OF FEDERAL FUND 6536235 7311215 FEDERAL FUND LIABILITY - PAYABLE TO US DOE 6556265 6556265 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. SEPTEMBER 30, 2024 AND 2023, THERE WERE NO UNCERTAIN TAX POSITIONS. ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN INCLUDED IN THE ACCOMPANYING FINANCIAL STATEMENTS. 0 INCEPTIA PO BOX 82507 LINCOLN NE 68501 920907062 501(C)(3) 40000000 8683 FMV EQUITY INVESTMENTS CASH & EQUITY INVESTMENT GRANT TO SUBSIDIARY ORGANIZATION INCEPTIA 9/30/24 1 0 X X X X X 1 0 0 0 0 0 0 0 0 RANDALL SCOTT HEESACKER CEO (THRU OCT 2023) 347735 0 73586 0 55324 0 42639 0 16857 0 536141 0 0 0 DAVID A MACOUBRIE CEO (AS OF OCT 2023) 256076 0 51644 0 1660 0 34754 0 22554 0 366688 0 0 0 JILL M HICKS CFO 248377 0 51746 0 1660 0 34327 0 8687 0 344797 0 0 0 MICHAEL JAY LUBBEN SENIOR VP BUSINESS DEVELOPMENT 219758 0 11394 0 2212 0 29124 0 23076 0 285564 0 0 0 SUSAN KAY DOWNING SENIOR VP MARKETING 190560 0 40769 0 1760 0 28202 0 26097 0 287388 0 0 0 WILLIAM LEONARD KOHL SENIOR VP PORTFOLIO MANAGEMENT 175560 0 37153 0 3676 0 31160 0 17229 0 264778 0 0 0 DEANA MARIE UNGER VP OPERATIONS 36507 124632 12264 0 490 1620 3358 23166 191 573 52810 149991 0 0 PAMELA SUE BECKMANN SR. DIRECTOR CUSTOMER SVC & STUDENT 0 65367 0 6871 0 78776 0 26874 0 19878 0 197766 0 0 MARK E KRINGS VP CLIENT SERVICES 0 134295 0 11425 0 2460 0 29057 0 29325 0 206562 0 0 KRISTA BROOKE ODBERT AVP PRODUCT DEVELOPMENT 0 124157 0 8290 0 988 0 3550 0 24537 0 161522 0 0 SHANNON R JONES AVP BUSINESS DEVELOPMENT 0 122394 0 0 0 1180 0 15637 0 24537 0 163748 0 0 TIMOTHY JON ROETHIG AVP CONTACT CENTER OPS 0 110217 0 9875 0 1966 0 25502 0 20229 0 167789 0 0 PART I, LINE 4A ON OCTOBER 9, 2023, PAMELA SUE BECKMANN ENTERED INTO A VOLUNTARY SEPARATION AGREEMENT WITH NSLP. SHE RECEIVED $72,000 IN SEVERANCE PAYMENTS. EQUITY INVESTMENTS 2023-10-13 8683 FMV 920907062 INCEPTIA PO BOX 82507 LINCOLN NE 68501 501(C)(3) CASH 2024-09-30 40000000 ACTUAL 920907062 INCEPTIA PO BOX 82507 LINCOLN NE 68501 501(C)(3) 0 0 0 0 PART II, LINE 1: ON OCTOBER 27, 2022 NEBRASKA STUDENT LOAN PROGRAM, INC. (NSLP) FILED ARTICLES OF INCORPORATION FOR INCEPTIA WITH THE NEBRASKA SECRETARY OF STATE. INCEPTIA RECEIVED NOTICE OF TAX EXEMPT STATUS FROM THE INTERNAL REVENUE SERVICE ON APRIL 11, 2023.IN FISCAL YEAR 2023, NSLP TRANSFERRED CERTAIN UNDERLYING INTERESTS AND ASSETS, TO INCEPTIA BY GRANT. THIS INCLUDED CERTAIN PROGRAMS AND INTELLECTUAL PROPERTY RELATED TO SUCH PROGRAMS, EQUIPMENT, OTHER TANGIBLE AND INTANGIBLE PROPERTY, DOMAIN NAME REGISTRATIONS, WEB ADDRESSES, WEB SITE CONTENT, CASH AND OTHER INVESTMENT ASSETS IN ORDER TO SUPPORT THE ACTIVITIES OF INCEPTIA.DURING THIS TIME, INCEPTIA ASSUMED SEVERAL ACTIVITIES PREVIOUSLY DELEGATED TO NSLP, INCLUDING INVESTMENT MANAGEMENT AND AS A GOVERNMENT STUDENT LOAN GUARANTOR. NSLP'S OFFICERS AND BOARD OF DIRECTORS ALSO BECAME OFFICERS AND BOARD MEMBERS OF INCEPTIA, WHICH BOTH ORGANIZATIONS CONTINUE TO SHARE. NSLP IS THE SOLE MEMBER OF INCEPTIA AND HAS FULL CONTROL OVER ITS GOVERNANCE.IN FISCAL YEAR 2024, NSLP CONTINUED TO SUPPORT INCEPTIA BY TRANSFERRING A SIGNIFICANT PORTION OF ITS CASH ASSETS TO INCEPTIA. FORM 990, PART VI, SECTION A, LINE 1A THERE ARE NO COMMITTEES WITH GOVERNING AUTHORITY TO ACT ON BEHALF OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 6 THE FOUNDATION FOR EDUCATIONAL SERVICES, INC. (FES), A NOT-FOR-PROFIT CORPORATION, SERVES AS THE SOLE MEMBER OF NEBRASKA STUDENT LOAN PROGRAM, INC. (NSLP) AND ELECTS NSLP'S BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7A THE FOUNDATION FOR EDUCATIONAL SERVICES, INC. (FES), A NOT-FOR-PROFIT CORPORATION, SERVES AS THE SOLE MEMBER OF NEBRASKA STUDENT LOAN PROGRAM, INC. (NSLP) AND ELECTS NSLP'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 NSLP 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 NSLP 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 B, LINE 15 OUTSIDE LEGAL COUNSEL UNDERTAKES 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 2024. FORM 990, PART VI, SECTION C, LINE 19 PUBLIC AVAILABILITY OF DOCUMENTS, POLICIES, AND FINANCIAL STATEMENTS: NSLP DOES NOT MAKE THEIR GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, OR FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. FORM 990, PART XII, LINE 2C: THE AUDIT OVERSIGHT PROCESS HAS NOT CHANGED FROM PRIOR YEAR. FOUNDATION FOR EDUCATIONAL SERVICES INC PO BOX 82552 LINCOLN NE 68501 470703499 SUPPORTING ORG NE 501(C)(3) LINE 12B, II N/A 0 EDUCATIONQUEST FOUNDATION 1300 O STREET LINCOLN NE 68508 470606382 EDU SUPPORT NE 501(C)(3) LINE 12B, II FES 0 INCEPTIA PO BOX 82507 LINCOLN NE 68501 920907062 STUDENT FINANCIAL AID SUPPORT NE 501(C)(3) LINE 10 NSLP 1 0 1 0 0 0 0 0 0 0 0 1 0 0 1 1 1 0 0 0 INCEPTIA B 40008683 ACTUAL AMOUNT