2019-05-08T11:25:38-05:00 2018-06-30 KPMG LLP 666 Grand Avenue Suite 2500 Des Moines IA 503092578 990 2017-07-01 421137531 Iowa Student Loan Liquidity Corporation % Ron W Foresman IOWA 5152737210 6775 Vista Drive West Des Moines IA 502669307 ERIN LACEY EVP & Treasurer 5152737210 2019-03-04 true Cliff Findlay P01074012 5152887465 167.68.102.5 42011120191285000000 2019-05-08 P 0ED4129B73A568680EADD97FE0E1907F80353754 1DF1F94D7376A5A2EA44607F7F2AD54BCA87452C 2017 2019-02-21 02:37:17Z ERIN LACEY 6775 Vista Drive West Des Moines IA 502669307 67762446 false X www.studentloan.org X 1979 IA To help iowa students and families obtain the resources necessary to succeed in postsecondary education. postsecondary education. 11 6 106 1 -616758 -616758 2700 2800 57889433 65734870 1755263 1993784 30830 30992 59678226 67762446 0 950000 0 0 7007875 8166415 0 0 0 69200725 75095671 76208600 84212086 -16530374 -16449640 1631488541 1544042175 1121591256 1031216786 509897285 512825389 X To help Iowa students and families obtain the resources necessary to succeed in postsecondary education. false false 78761413 68376404 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, 2018, the Corporation owned and serviced loans totaling 212,498 with an outstanding balance of $1,344,170,203. 950000 78761413 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 true 48 0 true 106 true true true false false false false false false false false false X 11 6 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 Christine Hensley Board Chairperson 1.0 0.0 X 18529 0 0 Laurie Hempin Board Member 1.0 0.0 X 8281 0 0 Tammy Bramley Board Member 1.0 0.0 X 15583 0 0 Daniel Clute Board Member 1.0 0.0 X 10933 0 0 Adam Voigts Board Member 1.0 0.0 X 11108 0 0 Lorraine Groves Board Member 1.0 0.0 X 9183 0 0 Scott Schneidermann Board Member 1.0 0.0 X 8954 0 0 Rob Denson Board Member 1.0 0.0 X 0 0 0 Jim Schipper Board Member 1.0 0.0 X 11081 0 0 Miles Lackey Board Member 1.0 0.0 X 7379 0 0 Marcia Rogers Board Member 1.0 0.0 X 7381 0 0 Mark Braun Board Member 1.0 0.0 X 0 0 0 Steve McCullough President & CEO 40.0 0.0 X 404995 0 44889 Erin Lacey EVP & Treasurer 40.0 0.0 X 244239 0 37396 Mary Kay DeBolt Sr. Operations VP & Secretary 40.0 0.0 X 0 204460 26031 Cindy Bartz CIO & Proj Mgmt VP 40.0 0.0 X 190629 0 41572 Greg Nichols Sr. Pub Affairs & Comm Rel VP 40.0 0.0 X 183033 0 27612 Ron Foresman Accounting & Risk Mgmt VP 40.0 0.0 X 200586 0 31283 Marc Hendel Sr. Researcher & Data Mgr 40.0 0.0 X 188449 0 18347 Chi-Ming J Lin Chief Technical Architect 40.0 0.0 X 181966 0 33013 Marsha Boender Dir, Lender & School Serv. 40.0 0.0 X 153812 0 29510 Chris Hammerstrom Prod. Dev. Director 40.0 0.0 X 148330 0 26082 Ted Bulens Sr. Software Developer 40.0 0.0 X 135012 0 18681 2139463 204460 334416 24 false true false Ahlers Cooney PC 100 Court Ave Suite 600 Des Moines IA 50309 Legal 500880 KPMG LLP 666 Grand Avenue Suite 2500 Des Moines IA 50309 Audit & Tax Services 467055 TSIBOURIS ASSOCIATES 470 OLDE WORTHINGTON ROAD WESTERVILLE OH 43082 LEGAL 126894 Wright Concrete 900 25th St West Des Moines IA 50265 Concrete Contractor 406695 Ramaanchar Technologies Inc 1001 Highland Park Circle Coralville IA 52241 Software Developer 157310 5 2800 2800 Student Loan Interest Income 522291 62992648 62992648 Other Student Loan Revenue 522291 2742222 2742222 65734870 1993784 2610542 -616758 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Miscellaneous Income 522291 30992 30992 30992 67762446 68376404 -616758 950000 950000 0 0 0 2139463 2139463 0 3817118 3817118 793982 667648 126334 788558 706108 82450 627294 294661 332633 0 404362 404362 453295 453295 147979 147979 0 0 0 465590 465590 409102 409102 1006237 1006237 0 396730 396730 87657 87657 0 62759 62759 36320718 36320718 0 1912136 1912136 0 Service Charges & Fees 15097477 15097477 Consolidated Rebate Fee 3468347 3468347 Provision for Loan Losses 7473724 7473724 Debt Related Expenses 2640527 2640527 4749031 4749031 84212086 78761413 5450673 0 1017746 1306236 224055828 183736321 0 0 1297012611 1247430970 0 0 0 0 0 0 0 0 1386713 3030963 42176524 29201861 12558835 12974663 17377414 14783884 36712409 35917693 0 0 0 0 41366985 44861445 1631488541 1544042175 6556835 9743304 0 0 64428440 46263316 466311291 452186468 0 0 0 0 582307958 521040931 0 0 1986732 1982767 1121591256 1031216786 X 217618721 200994984 0 0 292278564 311830405 509897285 512825389 1631488541 1544042175 X -16449640 246034 19131710 X false true X true true true X 0 0 0 2700 2800 5500 68885189 62548606 59169506 57889433 65734870 314227604 0 0 0 68885189 62548606 59169506 57892133 65737670 314233104 0 0 0 314233104 220287 65270 2095034 1085010 2610542 6076143 0 220287 65270 2095034 1085010 2610542 6076143 0 0 0 0 5370 46767 43892 30830 30992 157851 69110846 62660643 61308432 59007973 68379204 320467098 0.98055 0.98629 0.01896 0.01041 X 147979 147979 84064107 84212086 1000000 250000 1000000 1000000 1000000 1000000 4000000 6000000 144553 135641 144428 147979 572601 250000 250000 250000 250000 1000000 1500000 3129449 3129449 7607408 1949963 5657445 1376897 1368922 7975 10322236 8218749 2103487 19740534 17664227 2076307 12974663 0 ACCRUED INTEREST PAYABLE 1982767 1982767 69245725 246034 603557 849591 68396134 -633688 -633688 67762446 66317622 -17894464 -17894464 84212086 84212086 Schedule D, Part XI, Line 2d NET INCOME FROM TAXABLE SUBSIDIARY -603,557 FEES FROM TAXABLE SUBSIDIARY -3,265,919 Schedule K-1 Ordinary Loss from Link Capital -633,688 Schedule D, Part XII, Line 2D AMORTIZATION OF BONDS EXTINGUISHMENT GAIN -17,949,624 FEES FROM TAXABLE SUBSIDIARY 3,265,919 REVERSAL OF LOSS ON BOND REDEMPTION 55,160 false Iowa College Access Network (ICAN) 1770 Boyson Street Hiawatha IA 52233 270915418 950000 Contribution 0 1 X X X false false false false false false false false false Steve McCullough President & CEO 404995 0 0 0 0 0 25650 0 19239 0 449884 0 0 0 Erin Lacey EVP & Treasurer 244239 0 0 0 0 0 23830 0 13566 0 281635 0 0 0 Mary Kay DeBolt Sr. Operations VP & Secretary 0 204460 0 0 0 0 0 19769 0 6262 0 230491 0 0 Cindy Bartz CIO & Proj Mgmt VP 190629 0 0 0 0 0 19462 0 22110 0 232201 0 0 0 Greg Nichols Sr. Pub Affairs & Comm Rel VP 183033 0 0 0 0 0 17969 0 9643 0 210645 0 0 0 Ron Foresman Accounting & Risk Mgmt VP 200586 0 0 0 0 0 19654 0 11629 0 231869 0 0 0 Marc Hendel Sr. Researcher & Data Mgr 188449 0 0 0 0 0 18091 0 256 0 206796 0 0 0 Chi-Ming J Lin Chief Technical Architect 181966 0 0 0 0 0 18056 0 14957 0 214979 0 0 0 Marsha Boender Dir, Lender & School Serv. 153812 0 0 0 0 0 15293 0 14217 0 183322 0 0 0 Chris Hammerstrom Prod. Dev. Director 148330 0 0 0 0 0 14465 0 11617 0 174412 0 0 0 Ted Bulens Sr. Software Developer 135012 0 0 0 0 0 12877 0 5804 0 153693 0 0 0 A Iowa Student Loan Liquidity Corporation 421137531 462590HV5 2009-11-24 231848004 Provide funds for eligible student false false false B Iowa Student Loan Liquidity Corporation 421137531 462590JQ4 2011-11-10 419500000 Provide funds for eligible student false false false C Iowa Student Loan Liquidity Corporation 421137531 462590JU5 2015-05-13 37800000 Provide funds for eligible student false false false D Iowa Student Loan Liquidity Corporation 421137531 462590LR9 2018-06-06 74290000 Provide funds for eligible student false false false A 178895000 0 231848004 2300000 0 0 2452123 0 0 0 0 0 2010 true false true true B 304085000 0 419500000 4195014 0 0 2418906 0 0 0 0 0 2012 true false true true C 9045000 0 40587485 1150000 0 0 745976 0 0 0 0 0 2016 false false true true D 0 0 75707259 0 0 0 1432488 0 0 0 0 40850910 2019 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 D 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 true Morgan Stanley 19. false false false 0 false true C false true false false false false 0 false 0 false true D false true false false false false 0 false 0 false true A true B true C true D 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 17,949,624 Income of Taxable Subsidiary 603,557 Loss of Taxable Subsidiary -55,160 Aspire Resources Inc 6775 Vista Drive West Des Moines IA 50266 421520183 Loan Servicing IA ISLLC C Corp 603557 37704947 1.00000 false true false false true false false false false false false false false false true true false false false false Aspire Resources Inc A 408514 LINK CAPITAL PARTNERS LLC A 16930 Link Capital Partners LLC D 3190000 Aspire Resources Inc N 2333100 Aspire Resources Inc O 903924