2020-08-14T10:47:48-05:00 2019-09-30 BDO USA LLP 421 FAYETTEVILLE STREET SUITE 300 RALEIGH NC 27601 990 2018-10-01 581757969 Educational Funding of the South Inc % KEN MANN EDUC 6157718505 501 CORPORATE CENTRE DRIVE Suite 32 FRANKLIN TN 37067 RON GAMBILL CHAIRMAN/CEO 8658243054 2020-07-27 true Sandra L Feinsmith P01064157 9197549370 2020-08-14 38.132.154.29 54621820202275000004 2020-08-14 P C44969C09172B32DC5279494C6AE8494327A5917 49B7E525DB458F3B8483401679EF34D770FF257C 2018 2020-09-23 17:36:50Z RON GAMBILL 501 CORPORATE Ctr DR ste 320 FRANKLIN TN 37067 55765627 false X www.edsouth.org X 1985 TN ACQUISITION OF STUDENT loans, college and CAREER COUNSELING SERVICES, FINANCIAL LITERACY SERVICES AND NEED-BASED SCHOLARSHIPS. 5 4 13 0 0 0 0 0 53421201 53900002 3259978 1415809 437099 449816 57118278 55765627 218500 221000 0 0 1908723 1801304 0 0 0 52828749 56855210 54955972 58877514 2162306 -3111887 1125274900 976087145 928551772 782475904 196723128 193611241 X SEE SCHEDULE O FINANCIAL LITERACY SERVICES, AND NEED-BASED SCHOLARSHIPS false false 52512785 53900002 ACQUISITION OF STUDENT LOANS MADE TO STUDENTS AND PARENTS PURSUANT TO TITLE IV OF THE HIGHER EDUCATION ACT OF 1965, AS AMENDED. LOANS,IN THE AMOUNT OF 6,481MM, WERE ACQUIRED DURING TAX YEAR 2019. 1221653 STUDENT OUTREACH SERVICES ARE OFFERED TO STUDENTS IN ELEMENTARY SCHOOL THROUGH HIGH SCHOOL to promote college and career planning. Financial literacy programs are offered to middle schools serving low-income families in Middle Tennessee, High School students in Grades 10-12 in East, Middle and West Tennessee, and postsecondary institutions in the Tennessee Board of Regents System. 219000 219000 VOLUNTEER STATE STUDENT ASSISTANCE SCHOLARSHIPS ARE OFFERED TO STUDENTS BASED ON FINANCIAL NEED IN POST SECONDARY EDUCATION AT 4 year public and private colleges THROUGHOUT THE STATE OF TENNESSEE. 335333 2000 eCampus Tours 335333 2000 54288771 true false false false false false false false false false true false false false false true false true false false false false false false false false false true false true false false false false false false false false false false false false true true false false false true 14 0 true 13 true false false false false false false false false false false false false X 5 4 false false false false false false false true true false false true true true true true true true true false X KEN MANN 8658243054 12700 KINGSTON PIKE Knoxville TN 37934 RON GAMBILL PRESIDENT/CEO 50.0 0.0 X X 759840 0 14308 JOHN MAYS DIRECTOR 1.0 0.0 X 17000 0 0 MIKE RAGSDALE DIRECTOR 1.0 0.0 X 22500 0 0 RICHARD SMELSER DIRECTOR 1.0 0.0 X 21500 0 0 JEFF GERKIN DIRECTOR 1.0 0.0 X 21500 0 0 KEN MANN CFO 40.0 0.0 X 179658 0 10608 1021998 0 24916 2 false true false Educational Servicing of America I 12700 Kingston Pike KNOXVILLE TN 37934 Administration 2657624 AES 1200 NORTH SEVENTH STREET HARRISBURG PA 17102 LOAN SERVICING 1723353 Kuder Inc 302 Visions Parkway ADEL IA 50003 Student Outreach 410000 BDO USA LLP 421 Fayetteville Street Suite 300 RALEIGH NC 27601 AUDIT SERVICES 143063 SP Global 2475 Northwinds Pkwy 320 ALPHARETTA GA 30009 Analytical Services 120000 5 0 STUDENT LOAN INTEREST INCOME 525990 53900002 53900002 53900002 1524415 1524415 0 0 0 0 0 -108606 -108606 -108606 -108606 0 0 0 0 0 0 0 0 0 MISCELLANEOUS 525990 449816 449816 449816 55765627 53900002 1865625 221000 221000 0 0 0 1638733 491620 1147113 0 0 55758 16727 39031 33404 10021 23383 73409 22023 51386 4367276 2183638 2183638 0 137300 137300 0 0 122849 98279 24570 0 54648 43718 10930 15384 12307 3077 110845 88676 22169 0 105126 84101 21025 79514 63611 15903 0 8060 6448 1612 33687112 33687112 0 2855980 2284784 571196 17113 3423 13690 LARS 6919859 6919859 CONSOLIDATION REBATE FEES 7864942 7864942 MISCELLANEOUS 509202 186482 322720 58877514 54288771 4588743 0 0 0 45858998 30514631 0 0 27438870 35408270 0 0 0 0 1017462452 876190159 0 0 86813 86813 646844 238104 444851 408740 27595289 27463532 0 0 0 0 4388889 4055556 1998738 1959444 1125274900 976087145 1377150 2884775 0 0 0 0 0 0 0 0 0 0 927174622 779591129 0 0 0 0 928551772 782475904 X 196723128 193611241 0 0 0 0 196723128 193611241 1125274900 976087145 -3111887 X false true X true true true X 0 0 0 0 0 0 84225414 73116684 60507592 53421201 53900002 325170893 0 0 0 84225414 73116684 60507592 53421201 53900002 325170893 0 0 0 325170893 277821 794792 802955 1109711 1524415 4509694 0 277821 794792 802955 1109711 1524415 4509694 0 581734 710153 628244 437099 449816 2807046 85084969 74621629 61938791 54968011 55874233 332487633 0.97799 0.98290 0.01356 0.00900 X 32500 32500 168258 9110 159148 211680 51223 160457 17973 17973 216433 159798 56635 408740 0 0 X PART X, LINE 2 THE COMPANY IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(A) OF THE INTERNAL REVENUE CODE. ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN MADE IN THE CONSOLIDATED FINANCIAL STATEMENTS. THE COMPANY ANALYZED ITS TAX POSITIONS FOR THE YEARS ENDED SEPTEMBER 30, 2019 AND 2018 AND DETERMINED THERE WERE NO UNCERTAIN TAX POSITIONS THAT WOULD HAVE A MATERIAL IMPACT ON THE COMPANY'S CONSOLIDATED FINANCIAL STATEMENTS. true Baptist college of Health Sciences 1003 Monroe Avenue Memphis TN 38104 621599670 501(c)(3) 7000 scholarships Belmont University 1900 Belmont BLVD Nashville TN 37212 620465076 501(c)(3) 14000 Scholarships Carson-Newman University 1646 Russell Avenue Jefferson City TN 37760 620479189 501(c)(3) 7000 scholarships Christian Brothers University 650 East Parkway South Memphis TN 38104 620476666 501(c)(3) 7000 scholarships Cumberland University One Cumberland Square Lebanon TN 37087 620599339 501(c)(3) 7000 scholarships East Tennessee State University 1276 Gilbreath Drive Johnson City TN 37614 626021046 501(c)(3) 10000 Scholarships Freed-Hardeman University 158 East Main Street Henderson TN 38340 620518288 501(c)(3) 7000 Scholarships Johnson University 7900 Johnson drive Knoxville TN 37998 626001104 501(c)(3) 7000 Scholarships King University 1350 King College Road Bristol TN 37620 581363100 501(c)(3) 7000 Scholarships Lipscomb University One University Park Drive Nashville TN 37204 620485733 501(c)(3) 14000 Scholarships Martin Methodist College 433 W Madison St Pulaski TN 38478 620483210 501(c)(3) 7000 Scholarships Maryville College 502 E Lamar Alexander parkway Maryville TN 37804 620475691 501(c)(3) 7000 Scholarships Memphis College of Art 1930 Poplar Avenue Memphis TN 38104 620544854 501(3)(c) 7000 Scholarships Middle Tennessee State University 1301 East Main Street Murfreesboro TN 37132 626005794 501(c)(3) 10000 Scholarships Milligan College One Blowers BLVD Miligan College TN 37682 620535755 501(c)(3) 7000 Scholarships Rhodes College 2000 North Parkway Memphis TN 38112 620476301 501(c)(3) 7000 Scholarships Trevecca Nazarene University 333 Murfreesboro Road Nashville TN 37210 620497990 501(c)(3) 7000 Scholarships Union University 1050 Union University Drive Jackson TN 38305 620516509 501(c)(3) 7000 Scholarships Univ of Tennessee Martin 200 Administration Building Martin TN 38238 626001636 501(c)(3) 10000 Scholarships University of Memphis 3720 Alumni Ave Memphis TN 38152 621237951 501(c)(3) 12000 Scholarships University of the South 735 University Avenue Sewanee TN 37383 620475697 501(c)(3) 7000 Scholarships Vanderbilt University 2309 West End Avenue Nashville TN 37203 620476822 501(c)(3) 14000 Scholarships Williamson College 274 Mallary Station Road Franklin TN 37067 621669683 501(c)(3) 7000 Scholarships Tennessee State University 3500 John A Merritt Blvd Nashville TN 37209 620786119 501(c)(3) 7500 Scholarships Tusculum University 60 Shiloh Rd Tusculum TN 37745 620484185 501(c)(3) 10500 Scholarships 25 0 FORM 990, SCHEDULE I, PART I, LINE 2: The grant/scholarship program provides scholarships to students who demonstrate, through an application process and with working relations with eligible schools, academic achievement, financial need, and involvement in community services. X true true X X X X X false false false false false false false false false RON GAMBILL PRESIDENT/CEO 731320 0 0 0 28520 0 11900 0 2408 0 774148 0 0 0 KEN MANN CFO 171462 0 7500 0 696 0 8946 0 1662 0 190266 0 0 0 PART 1, LINE 1A HEALTH CLUB FEES ARE PAID PER WRITTEN POLICY AND ARE PAID ONCE SUBSTANTIATED. FORM 990, PART III, LINE 1: EDUCATIONAL FUNDING OF THE SOUTH, INC (THE COMPANY) IS A NOT-FOR-PROFIT PUBLIC BENEFIT CORPORATION FORMED IN 1985. THE COMPANY ACQUIRED AND FUNDED LOANS TO STUDENTS AND PARENTS OF STUDENTS THROUGHOUT THE UNITED STATES PURSUANT TO TITLE IV OF THE HIGHER EDUCATION ACT OF 1965 UNTIL JULY 1, 2010. THE COMPANY ALSO PROVIDES COLLEGE AND CAREER COUNSELING SERVICES THROUGH THE STUDENT OUTREACH PROGRAM FOR STUDENTS IN ELEMENTARY, MIDDLE AND HIGH SCHOOL. THE COMPANY ALSO AWARDS SCHOLARSHIPS TO STUDENTS IN NEED FOR PUBLIC AND PRIVATE SCHOOLS IN THE STATE OF TENNESSEE. FORM 990, PART VI, SECTION B, LINE 11: THE VP/CFO AND THE CHAIRMAN/CEO OF EDUCATIONAL FUNDING OF THE SOUTH, INC., REVIEW THE 990 PRIOR TO IT BEING FILED. A FINAL COPY OF THE 990 IS PROVIDED TO EACH BOARD MEMBER PRIOR TO IT BEING FILED. FORM 990, PART VI, SECTION B, LINE 12C: ALL EMPLOYEES OF EDUCATIONAL FUNDING OF THE SOUTH, INC., ARE REQUIRED TO SIGN A CONFLICT OF INTEREST STATEMENT EACH YEAR STATING THAT THERE ARE NO DUTIES OR RESPONSIBILITIES THAT ARE MUTUALLY INCOMPATIBLE OR THAT THERE ARE NO DIRECT OR INDIRECT FINANCIAL INTERESTS. IF A POTENTIAL ACTIVITY IS IN QUESTION OR AN EMPLOYEE IN DOUBT, THEY SHOULD DISCUSS WITH THEIR MANAGER, THE PRESIDENT, OR CHAIRMAN OF THE BOARD. IF THE BOARD OF DIRECTORS HAS REASONABLE CAUSE TO BELIEVE THAT A DIRECTOR, OFFICER, OR AN EMPLOYEE HAS FAILED TO DISCLOSE AN ACTUAL OR A POSSIBLE CONFLICT OF INTEREST, IT SHALL INFORM THE DIRECTOR OR OFFICER OF THE BASIS FOR SUCH BELIEF AND AFFORD THE DIRECTOR, OFFICER, OR EMPLOYEE AN OPPORTUNITY TO EXPLAIN THE ALLEGED FAILURE TO DISCLOSE. IF IT IS DETERMINED THAT THE DIRECTOR, OFFICER, OR EMPLOYEE HAS IN FACT FAILED TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, THE BOARD OF DIRECTORS SHALL CONSIDER APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION. IF A CONFLICT IS FOUND TO EXIST OR OTHERWISE DISCLOSED, THE RELEVANT BOARD MEMBER IS PRECLUDED FROM VOTING AND PROHIBITED FROM INFLUENCING THE VOTE ON ANY MATTER TO WHICH THE CONFLICT RELATES. FORM 990, PART VI, SECTION B, LINE 15A: THE PROCESS FOR DETERMINING COMPENSATION FOR CEO AND PRESIDENT BEGAN IN 2006. THE BOARD OF DIRECTORS USES OUTSIDE CONSULTANTS IN DETERMINING THE COMPENSATION FOR THE ABOVE POSITION BY COMPARING COMPENSATION PAID TO OTHER COMPARABLY-SIZED NON-PROFITS. A COMPENSATION COMMITTEE COMPRISED OF INDEPENDENT MEMBERS OF THE BOARD OF DIRECTORS USES THE COMPENSATION INFORMATION FROM OUTSIDE CONSULTANTS IN DETERMINING THE COMPENSATION. THERE IS AN ANNUAL REVIEW OF COMPENSATION BY THE COMMITTEE. EXECUTIVE MANAGEMENT ALSO EVALUATES THE PERFORMANCE OF OTHER OFFICERS AND KEY EMPLOYEES IN CONNECTION WITH MARKET FACTORS TO ADJUST COMPENSATION. EFS FOLLOWED THIS POLICY FOR THE YEAR. FORM 990, PART VI, SECTION C, LINE 19: EDUCATIONAL FUNDING OF THE SOUTH, INC., PROVIDES COPIES OF ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS UPON REQUEST AT ITS KNOXVILLE, TENNESSEE LOCATION. EFS VOLUNTEER LLC 501 CORPORATE CENTRE DRIVE FRANKLIN TN 37067 STUDENT LOANS DE 5457000 62025000 EFS INC EFS VOLUNTEER NO 2 LLC 501 CORPORATE CENTRE DRIVE FRANKLIN TN 37067 STUDENT LOANS DE 15967000 220502000 EFS INC EFS VOLUNTEER NO 3 LLC 501 CORPORATE CENTRE DRIVE FRANKLIN TN 37067 STUDENT LOANS DE 14721000 162081000 EFS INC EFS SERVICING 501 CORPORATE CENTRE DRIVE FRANKLIN TN 37067 450678183 INACTIVE TN UND TN LAW EFS INC false false false false false false false false false false false false false false false false false false false