2021-04-21T08:03:55-05:00 2020-06-30 KPMG LLP 666 Grand Avenue Suite 2500 Des Moines IA 503092578 990 2019-07-01 421137531 Iowa Student Loan Liquidity Corporation % Ron W Foresman IOWA 5152737210 6775 Vista Drive West Des Moines IA 502669307 ERIN LACEY EVP & Treasurer 5152737210 2021-03-29 true Cliff Findlay P01074012 5152887465 2021-03-26 2019 2022-09-23 18:48:47Z Erin Lacey 6775 Vista Drive West Des Moines IA 502669307 64909561 false X www.studentloan.org X 1979 IA To help iowa students and families obtain the resources necessary to succeed in postsecondary education. 11 8 106 0 0 118400 69907503 62185593 2561370 2605459 196 109 72469069 64909561 950000 900000 0 0 11288714 12112917 0 0 0 75136392 66138486 87375106 79151403 -14906037 -14241842 1332262692 1307508535 816614678 799490469 515648014 508018066 X To help Iowa students and families obtain the resources necessary to succeed in postsecondary education. false false 73778240 64472629 Iowa Student Loan Liquidity Corporation provides funds for the acquisition and servicing of student loans under the U.S. Higher Education Act of 1965, as amended, and other non-Higher Education Act student loan programs. As of June 30, 2020, the Corporation owned and serviced loans totaling 161,760 with an outstanding balance of $1,131,492,358. 900000 Contribution to ICAN 900000 73778240 true false false true false false false false false false true false false false true false true true false false false false false false false false false true false true true false false true false false false false false false false false false false false false true true true false false false 34 0 true 106 true false false false false false false false false false false X 11 8 false false false false false false false true true false false true true true true true true true false false X Ron W Foresman 5152737210 6775 Vista Drive West Des Moines IA 50266 X Steve McCullough President & CEO 40.0 0.0 X 415240 0 46768 Erin Lacey EVP & Treasurer 40.0 0.0 X 252360 0 44843 Cindy Bartz CIO & Proj Mgmt VP 40.0 0.0 X 202210 0 44064 Ron Foresman Accounting & Risk Mgmt VP 40.0 0.0 X 211407 0 33558 Mary Kay DeBolt Sr. Operations VP & Secretary 40.0 0.0 X 0 205152 32339 Chi-Ming J Lin Chief Technical Architect 40.0 0.0 X 185215 0 34459 Greg Nichols Sr. Pub Affairs & Comm Rel VP 40.0 0.0 X 188433 0 27636 Marc Hendel Sr. Researcher & Data Mgr 40.0 0.0 X 188120 0 23665 Marsha Boender Dir, Lender & School Serv. 40.0 0.0 X 154216 0 31776 Chris Hammerstrom Prod. Dev. Director 40.0 0.0 X 151469 0 27390 Shawn Smith Lead Database Administrator 40.0 0.0 X 143638 0 20379 Christine Hensley Board Chairperson 1.0 0.0 X 17550 0 0 Tammy Bramley Board Vice Chairperson 1.0 0.0 X 13192 0 0 Adam Voigts Board Member 1.0 0.0 X 9607 0 0 Daniel Clute Board Member 1.0 0.0 X 8960 0 0 Scott Schneidermann Board Member 1.0 0.0 X 8828 0 0 Jim Schipper Board Member 1.0 0.0 X 8557 0 0 Laurie Hempin Board Member 1.0 0.0 X 8015 0 0 Rob Denson Board Member 1.0 0.0 X 7571 0 0 Lorraine Groves Board Member 1.0 0.0 X 6759 0 0 Marcia Rogers Board Member 1.0 0.0 X 4563 0 0 Nancy Dunkel Board Member 1.0 0.0 X 3367 0 0 2189277 205152 366877 30 false true false Ahlers Cooney PC 100 Court Ave Suite 600 Des Moines IA 50309 Legal 274734 KPMG LLP 666 Grand Avenue Suite 2500 Des Moines IA 50309 Audit & Tax Services 337685 2 X 118400 118400 Student Loan Interest Income 522291 56390089 56390089 Other Student Loan Revenue 522291 5795504 5795504 62185593 2605459 2605459 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Miscellaneous Income 522291 109 109 109 64909561 64791161 900000 900000 0 0 0 2189277 2189277 0 7610589 7610589 835368 699901 135467 810428 716685 93743 667255 474118 193137 0 165908 165908 388047 388047 151353 151353 0 0 0 555495 555495 630101 630101 915244 915244 0 357469 357469 57744 57744 0 39577 39577 28967199 28967199 0 1770652 1770652 0 Service Charges & Fees 16217989 16217989 0 0 Consolidated Rebate Fee 2797524 2797524 0 0 Provision for Loan Losses 5902260 5902260 0 0 Debt Related Expenses 2769531 2769531 0 0 4452393 4452393 79151403 74215172 4936231 0 X 2130729 1993521 99544864 238718534 0 0 1132539618 975745507 0 0 0 0 0 0 0 0 1051235 1345311 43220256 32656085 12099314 10564171 13055502 11318685 36855083 38157468 0 0 0 0 34986347 29665338 1332262692 1307508535 6932788 6015268 0 0 30287177 26016953 320348232 360774160 0 0 0 0 457601237 405435685 0 0 1445244 1248403 816614678 799490469 X 197582510 217305765 318065504 290712301 515648014 508018066 1332262692 1307508535 X -14241842 1272346 5339548 X false true X true true true X 0 2700 2800 0 118400 123900 59169506 57889433 65734870 65163176 56165802 304122787 0 0 0 59169506 57892133 65737670 65163176 56284202 304246687 0 0 0 304246687 2095034 1085010 2610542 2561370 2605460 10957416 0 2095034 1085010 2610542 2561370 2605460 10957416 0 0 43892 30830 30992 196 109 106019 61308432 59007973 68379204 67724742 58889771 315310122 0.96491 0.97314 0.03475 0.02638 X 151353 151353 79151405 79302758 1000000 250000 1000000 1000000 1000000 1000000 4000000 6000000 144428 147979 153669 151353 597429 250000 250000 250000 250000 1000000 1500000 3129449 3129449 7673814 2803606 4870208 1376897 1373413 3484 10320609 9093246 1227363 20719487 19385820 1333667 10564171 0 ACCRUED INTEREST PAYABLE 1248403 1248403 67484292 1272346 1302385 2574731 64909561 64909561 75114238 77224 77224 75037014 4114389 4114389 79151403 Schedule D, Part XI, Line 2d NET INCOME FROM TAXABLE SUBSIDIARY -1,302,385 FEES FROM TAXABLE SUBSIDIARY -436,932 Schedule D, Part XII, Line 2D AMORTIZATION OF BONDS EXTINGUISHMENT GAIN -4,114,389 FEES FROM TAXABLE SUBSIDIARY 436,932 REVERSAL OF LOSS ON BOND REDEMPTION 77,224 true ICAN 1770 Boyson Street Hiawatha IA 52233 270915418 900000 Contribution 1 Form Sch I Part I Line 2 During calendar year 2009 ISL spun off a segment of its business into a separate tax-exempt organization (ICAN). ISL's CEO/President is a board member of ICAN and ISL contributes a significant amount of money annually to ICAN to support its operations. During FY 2020 ISL contributed $900,000. X X X false false false false false false false false false Steve McCullough President & CEO 415240 26600 20168 462008 Erin Lacey EVP & Treasurer 252360 26145 18698 297203 Mary Kay DeBolt Sr. Operations VP & Secretary 205152 20824 11515 32339 205152 Cindy Bartz CIO & Proj Mgmt VP 202210 21223 22841 246274 Greg Nichols Sr. Pub Affairs & Comm Rel VP 188433 19092 8544 216069 Ron Foresman Accounting & Risk Mgmt VP 211407 21582 11976 244965 Marc Hendel Sr. Researcher & Data Mgr 188120 19186 4479 211785 Chi-Ming J Lin Chief Technical Architect 185215 19053 15406 219674 Marsha Boender Dir, Lender & School Serv. 154216 15970 15806 185992 Chris Hammerstrom Prod. Dev. Director 151469 15431 11959 178859 Shawn Smith Lead Database Administrator 143638 14406 5973 164017 A Iowa Student Loan Liquidity Corporation 421137531 462590JU5 2009-11-24 37800000 Provide funds for eligible student false false false B Iowa Student Loan Liquidity Corporation 421137531 462590LR9 2018-06-06 74290000 Provide funds for eligible student false false false C Iowa Student Loan Liquidity Corporation 421137531 462590MJ6 2019-10-23 92740000 Provide funds for eligible student false false false A 19060000 0 40587485 749600 0 0 745976 0 0 0 0 0 2016 false false true true B 46100000 0 75707259 742900 0 0 1432488 0 0 0 0 0 2019 true false true true C 0 0 99501506 1854800 0 0 1175030 0 0 0 0 39912317 2020 true false true true A false false false false 0 false false false true B false false false false 0 false false false true C false false false false 0 false false false true A false true false false false false 0 false 0 false true B false true false false false false 0 false 0 false true C false true false false false false 0 false 0 false true A true B true C true Form 990 Part VI Line 11a All completed forms to be filed are presented to and reviewed with the Board of Directors. Form 990 Part VI Line 12c A Director should be sensitive to any interest and potential conflict he or she may have in a decision to be made by the Board of Directors and, as far as possible, recognize such interest and potential conflict prior to the discussion or presentation of such a matter before the Board. When a director has an interest in a transaction being considered by the Board of Directors, the Director should disclose the conflict before the Board takes action on the matter. Upon disclosure by the Director, the Board should take appropriate protective steps. On an annual basis, all Directors are asked to disclose any conflicts of interest through a completed and signed submitted form. Form 990 Part VI Line 15a The ISL Board of Directors conducts a performance review of the CEO annually. The salary range for the CEO is established with the help of an outside independent compensation expert. Several salary surveys are conducted to make sure the Corporation is compensating the CEO at a competitive yet reasonable rate. Form 990 Part VI Line 19 The organization makes it documents avaliable to the public upon request. Form 990 Part XI Line 9 Amortization of Bond Extinguishment Gain 4,114,389 Revenue of Taxable Subsidiary 1,302,385 Expenses of Taxable Subsidiary -77,224 From 990 Part X Line 23 Lender: Bonds Payable Beginning Balance Due ................................ 719,458,225 Ending Balance Due ................................... 715,075,173 Lender: Notes Payable Beginning Balance Due ................................. 58,491,244 Ending Balance Due .................................... 51,134,672 Total Beginning mortgages and Other Notes Payable 777,949,469 Total Ending Mortgages and Other Notes Payable 766,209,845 NA NA Aspire Resources Inc 6775 Vista Drive West Des Moines IA 50266 421520183 Loan Servicing IA ISLLC C Corp 1302385 38157468 1.00000 false false false false false false false false false false false false false false true true false false false false Aspire Resources inc n 2998281 Company Records Aspire Resources inc o 2864590 Company Records