2019-11-12T09:59:18-06:00 2018-12-31 BDO USA LLP 421 FAYETTEVILLE STREET SUITE 300 RALEIGH NC 27601 990 2018-01-01 621586836 EDUCATIONAL SERVICES OF AMERICA INC % Bill Thompson EDUC 8658243051 12700 KINGSTON PIKE KNOXVILLE TN 37934 Bill Thompson CFO 8658243051 2019-11-12 true William M Owens P01435860 9197549370 2019-10-25 38.132.154.29 56906020193165000000 2019-11-12 P 5A93BC6954598A5C499FB6FCEF79B3C90A134D16 F1629F6A3F74945AEE6FE2E323340EE9C36B3F52 2018 2020-04-17 16:48:07Z Edsouth Services John Arnold 12700 KINGSTON PIKE KNOXVILLE TN 37934 113365042 false X www.edsouthservices.com X 1994 TN PROVIDES FUNDING FOR EDUCATIONAL LOANS AND PROVIDES FUNDING FOR EDUCATION PROGRAMS; FINANCIAL LITERACY; GRANTS FOR SCHOLARSHIPS. 8 6 43 0 0 0 91200970 95615417 7555267 10734058 10597617 7015567 109353854 113365042 553573 277500 0 0 5339751 5409360 0 0 0 84294573 85815407 90187897 91502267 19165957 21862775 1798881649 2081006108 1463338610 1720188233 335543039 360817875 Provides funding for educational loans and provides funding for education programs; financial literacy; grants for scholarships. false false 87624797 54000 95615417 ESA is a fully operating charitable organization that provides liquidity for post secondary student loans. It also conducts and maintains charitable programs that provide students with the opportunity to obtain a post-secondary education, grants for scholarships and financial literacy. 80000 Since 2012 we have partnered with EVERFI to provide financial literacy training to more than 27,254 students by taking the financial literacy course specific to high school and elementary school students. We have provided this course at no cost to the districts, schools, or teachers. To date upwards of 165,000 learning modules and over 55,134 hours have been completed on the course resulting in an impressive average improvement of 70% in student financial knowledge based on tests embedded in the platform. 223500 The grant/scholarship program provides scholarships to students who demonstrate, through an application process, academic achievement, financial need, and involvement in community services. During 2018, ESA funded grants that provided scholarships to 53 students. 87704797 true false false false false false false false false false true true 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 true true false false true 24 0 true 43 true false false false false false false false false false false true false X 8 6 false false false false false false false true true false false true true true true true true true true false TN X Bill Thompson 8658243051 12700 Kingston Pike Knoxville TN 37934 John Arnold President 20.0 0.0 X X 1316276 583053 3043 Bill Thompson CFO 20.0 0.0 X X 496745 500333 3043 Tildon Wayne Hood Compliance 20.0 0.0 X 118114 78815 11935 Jeff Gibbs CIO 20.0 0.0 X 296043 274691 16793 Eric Stewart COO 40.0 0.0 X 268597 0 14413 Barbara Thomas EVP 20.0 0.0 X 298125 351955 16131 Mike O'Donnel SVP Finance 20.0 0.0 X 74308 320436 3831 Eva Todd CHRO 20.0 0.0 X 82925 82037 9542 Joe Littleton ISO 20.0 0.0 X 59691 58009 8464 William Leroy Taylor Systems Admin 40.0 0.0 X 135404 0 6351 Jason Bolin Accounting Manager 40.0 0.0 X 102445 0 6748 Brent Starling Accounting Manager 40.0 0.0 X 105227 0 8288 3353900 2249329 108582 9 false true false American Education ServicesPHEAA PO Box 64849 BALTIMORE MD 21264 Loan Servicing 2576407 Great Lakes PO Box 8970 Madison WI 53708 Loan Servicing 1005324 Bright Futures Financial 5100 78th Avenue N Ste 1 Pinellas Park FL 33781 Loan Consolidation S 815400 BDO USA LLP PO Box 642743 Pittsburg PA 15264 Audit/Tax prep ser 653025 Charles Tombras Advertising Inc PO Box 15151 Knoxville TN 37901 Marketing Services 612329 15 0 Interest & Fees on Student Loans 522200 95615417 95615417 95615417 10734058 10734058 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 MISCELLANEOUS INCOME 900099 1043125 1043125 ADMINISTRATION FEES 900099 2297147 2297147 LOAN SERVICING FEES 900099 3675295 3675295 7015567 113365042 101587859 11777183 277500 277500 0 0 0 2996694 2872674 124020 0 1908027 953008 955019 96126 96126 202946 202946 205567 205567 671904 108127 563777 114477 114477 646675 646675 0 0 0 0 774422 774422 178761 178761 455940 455940 0 718994 718994 73526 57350 16176 0 12826 12826 62017008 62017008 0 237069 237069 190919 190919 Loan Servicing and Admin Fees 16216008 16216008 0 0 Outreach Community Education 80000 80000 0 0 Loan Loss Reserve 578764 578764 0 0 Trustee Fees 157006 157006 0 0 2691108 2644041 47067 91502267 87704797 3797470 0 5832195 7704653 93896248 70638734 0 0 1521890165 1798607405 0 0 0 0 0 0 0 0 540758 541147 3713841 816232 2900169 2897609 0 0 124319404 137610339 0 0 0 0 49502710 63006221 1798881649 2081006108 10172223 10165002 0 0 0 0 0 0 0 0 0 0 1453166387 1710023231 0 0 0 0 1463338610 1720188233 X 335543039 360817875 0 0 0 0 335543039 360817875 1798881649 2081006108 X 21862775 3412061 X false true X true true true X 0 0 0 0 0 0 125144322 140388214 113391313 91200970 95615417 565740236 0 0 0 125144322 140388214 113391313 91200970 95615417 565740236 0 0 0 565740236 11243447 10726298 6680838 7555267 10734058 46939908 0 11243447 10726298 6680838 7555267 10734058 46939908 0 13341706 13475581 17799111 10597617 7015567 62229582 149729475 164590093 137871262 109353854 113365042 674909726 0.83825 0.83782 0.06955 0.06628 X 2291541 420398 1871143 45145 44264 881 1377155 351570 1025585 2897609 INVESTMENT IN SOUTHEAST BANCOR 137610339 F 137610339 0 0 X SCHEDULE D, PART X, LINE 2 ACCOUNTING STANDARDS CODIFICATION ("ASC") 740 (FORMERLY FINANCIAL ACCOUNTING STANDARDS BOARD ("FASB") ISSUED INTERPRETATION N0. 48, ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES - AN INTERPRETATION OF FASB STATEMENT NO. 109) WAS ADOPTED BY THE COMPANY AS OF JANUARY 1, 2009. THIS INTERPRETATION CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN AN ENTERPRISE'S FINANCIAL STATEMENTS IN ACCORDANCE PRIMARILY WITH ASC 740. UNDER ASC 740, THE IMPACT OF AN UNCERTAIN INCOME TAX POSITION ON THE INCOME TAX RETURNS MUST BE RECOGNIZED AT THE LARGEST AMOUNT THAT IS MORE-LIKELY-THAN-NOT TO BE REQUIRED TO BE RECOGNIZED UPON AUDIT BY THE RELEVANT TAKING AUTHORITY. ASC 740 ALSO PROVIDES GUIDANCE ON DE-RECOGNITION, MEASUREMENT, CLASSIFICATION, INTEREST AND PENALTIES, ACCOUNTING FOR INTERIM PERIODS, AND DISCLOSURE AND TRANSITION ISSUES WITH RESPECT TO TAX POSITIONS. THE COMPANY DID NOT HAVE ANY SIGNIFICANT UNCERTAIN TAX POSITIONS AS OF DECEMBER 31, 2018 and 2017. true The UT Foundation Suite 100 UT Conf Cntr Knoxville TN 37996 621844686 501(c)(3) 54000 SCHOLARSHIPS Bryan College 721 Bryan Drive Dayton TN 37321 620528217 501(c)(3) 24000 Scholarships Cleveland State Foundation PO BOX 3570 CLEVELAND TN 37230 620762876 Govt 20000 SCHOLARSHIPS Lee University 1120 N Ocoee Street Cleveland TN 37311 620502739 501(c)(3) 30000 Scholarships Chattanooga State Foundation 4501 Amnicola Hwy Chattanooga TN 37406 581311669 501(c)(3) 7000 Scholarships Pellissippi State Foundation 10915 Hardin Valley Rd Knoxville TN 37932 620938734 Govt 7000 Scholarships Southern Adventist University 5010 University Drive Collegedale TN 37315 620536733 Church 30000 Scholarships Tennessee Tech University 1000 North Dixie Ave Cookeville TN 38501 620646806 Govt 32500 Scholarships Tennessee Wesleyan College 104 E College St Athens TN 37303 620476661 501(c)(3) 30000 Scholarships UT Chattanooga Foundation 615 McCallie Avenue Chattanooga TN 37403 626001636 501(c)(3) 35000 Scholarships 9 1 Part I, Line 2 The grant/scholarship program provides scholarships to students who demonstrate, through an application process, academic achievement, financial need, and involvement in community services. X true true X X X false false false false false false false false false John Arnold President 657000 293000 639710 285290 19566 4763 0 0 3043 0 1319319 583053 0 0 Bill Thompson CFO 312136 317234 173409 176591 11200 6508 0 0 3043 0 499788 500333 0 0 Tildon Wayne Hood Compliance 101723 67815 10000 11000 6391 0 5586 3941 2408 0 126108 82756 0 0 Jeff Gibbs CIO 182837 164375 100000 110000 13206 316 6875 6875 3043 0 305961 281566 0 0 Eric Stewart COO 227712 0 30000 0 10885 0 11386 0 3027 0 283010 0 0 0 Barbara Thomas EVP 298125 298542 0 50000 0 3413 0 13750 0 2381 298125 368086 0 0 Mike O'Donnel SVP Finance 62908 268781 11400 48600 0 3055 1450 0 0 2381 75758 322817 0 0 Eva Todd CHRO 69537 69537 12500 12500 888 0 3477 3842 2223 0 88625 85879 0 0 Part VI, Section B, Line 11B THE FORM 990 IS REVIEWED BY THE CFO AND CEO OF ESA PRIOR TO BEING FILED WITH THE IRS, AND A FINAL COPY OF THE 990 IS PROVIDED TO EACH BOARD MEMBER PRIOR TO BEING FILED. Part VI, Section B, Line 12C ALL EMPLOYEES ARE REQUIRED TO SIGN A CONFLICT OF INTEREST STATEMENT EACH YEAR STATING THAT THERE ARE NO DUTIES OR RESPONSIBILTIES 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 DEPARTMENT 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 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 IS OTHERWISE DISCLOSED, THE RELEVANT BOARD MEMBER IS PRECLUDED FROM VOTING AND PROHIBITED FROM INFLUENCING THE VOTE ON ANY MATTER TO WHICH THE CONFLICT RELATED. Part VI, Section B, Line 15A & 15B THE BOARD OF DIRECTORS ESTABLISHES A COMPENSATION COMMITTEE COMPRISED OF INDEPENDENT BOARD MEMBERS AND RETAINS THE SERVICES OF AN INDEPENDENT COMPENSATION CONSULTANT TO DETERMINE THE COMPENSATION OF THE EXCUTIVE OFFICERS. THE COMPENSATION COMMITTEE RECEIVES THE REPORT FROM THE COMPENSATION CONSULTANT AND MEETS WITH THE COMPENSATION CONSULTANT INDEPENDENTLY OF ANY MEMBER OF MANAGEMENT, INCLUDING THE EXECUTIVE OFFICER. THE COMPENSATION COMMITTEE ESTABLISHES THE COMPENSATION FOR THE EXECUTIVE OFFICER BASED ON THIS REPORT. THE CHAIRMAN OF THE COMPENSATION COMMITTEE THEN PROVIDES A REPORT TO THE FULL BOARD OF DIRECTORS AND THE REPORT IS ACCEPTED OR AMENDED BASED ON THE REPORT AND THE EVALUATION OF THE PERFORMANCE OF THE EXECUTIVE OFFICER. EXECUTIVE MANAGEMENT ALSO EVALUATES THE PERFORMANCE OF OTHER OFFICERS AND KEY EMPLOYEES IN CONNECTION WITH MARKET FACTORS TO ADJUST COMPENSATION WHICH IS DETERMINED BASED ON COMPARISON OF THE REGIONAL SALARY LEVELS AND FOLLOWING AN EVALUATION BY THE CEO DURING THE PREVIOUS YEAR. Part VI, SECTION C, LINE 19 ESA MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. Part XI, Line 9 Common stock contributed to ESOP: $2,831,122 Non Controlling Interest Income: $580,939 Total Other Changes in Net Assets: $3,412,061 Edsouth Indenture No 1 LLC 12700 KINGSTON PIKE FARRAGUT TN 37934 Student Loans TN 3839476 32115895 NA North Oaks LLC 12700 KINGSTON PIKE FARRAGUT TN 37934 Student Loans TN 7110249 412118671 NA Edsouth Indenture No 2 LLC 12700 KINGSTON PIKE FARRAGUT TN 37934 Student Loans TN 9032678 98505490 NA Edsouth Indenture No 3 LLC 12700 KINGSTON PIKE FARRAGUT TN 37934 Student Loans TN 10517696 145326983 NA Edsouth Indenture No 4 LLC 12700 KINGSTON PIKE FARRAGUT TN 37934 Student Loans TN 10725784 166868739 NA Edsouth Indenture No 5 LLC 12700 KINGSTON PIKE FARRAGUT TN 37934 Student Loans TN 5071142 74322862 NA Edsouth Indenture No 6 LLC 12700 KINGSTON PIKE FARRAGUT TN 37934 Student Loans TN 10848627 179083564 NA Edsouth Indenture No 7 LLC 12700 KINGSTON PIKE FARRAGUT TN 37934 Student Loans TN 5918918 89072639 NA Edsouth Indenture No 8 LLC 12700 KINGSTON PIKE FARRAGUT TN 37934 Student Loans TN 9008789 140465698 NA Edsouth Indenture No 9 LLC 12700 KINGSTON PIKE FARRAGUT TN 37934 Student Loans TN 15668904 247386443 NA Edsouth Indenture No 10 LLC 12700 KINGSTON PIKE FARRAGUT TN 37934 Student Loans TN 6228224 84896921 NA ELFI Graduate Loan Program 2018-A LLC 12700 KINGSTON PIKE FARRAGUT TN 37934 Student Loans TN 6640219 185027971 NA SouthEast Bancorp Inc 12700 KINGSTON PIKE FARRAGUT TN 37934 262930965 COMMERICAL BANK TN NA C corp 13093597 138464256 0.94590 true SouthEast Bank 12700 KINGSTON PIKE FARRAGUT TN 37934 621859961 BANKING INVEST TN SOUTHEAST BANCO C corp 74888220 1244226311 1.00000 true Southeast Bancshares Inc Statutory Tru 12700 KINGSTON PIKE FARRAGUT TN 37934 376417777 BANKING INVEST TN SOUTHEAST BANCO C corp 1.00000 true true false false false false false true true false false true true true false false true true true false SouthEast Bank a 107007 actual SouthEast Bank g 132092039 actual SouthEast Bank h 487523486 actual Southeast Bancorp Inc k 462955 actual SouthEast Bank l 186680 estimation SouthEast Bank p 237011 actual SouthEast Bank q 1015497 actual