2018-11-14T10:02:48-06:00 2017-12-31 BDO USA LLP 421 FAYETTEVILLE ST STE 300 RALEIGH NC 27601 990 2017-01-01 621586836 Educational Services of America Inc % BILL THOMPSON EDUC 8658243051 12700 Kingston Pike Knoxville TN 37934 BILL THOMPSON CFO 8658243051 2018-11-12 true William M Owens P01435860 9197549370 66.26.82.127 56906020183185000002 2018-11-14 P 5476F9B71916CD40FDB4E1086303C323EF876FF3 5A93BC6954598A5C499FB6FCEF79B3C90A134D16 2017 2019-02-21 02:37:17Z JOHN ARNOLD 12700 Kingston Pike Knoxville TN 37934 109353854 false X www.edsouthservices.com X 1994 TN Provides funding for educational loans and provides funding for student outreach programs; grants for scholarships. 8 5 43 0 0 0 113391313 91200970 6680838 7555267 17799111 10597617 137871262 109353854 776850 553573 0 0 4950956 5339751 0 0 0 107833989 84294573 113561795 90187897 24309467 19165957 2105988183 1798881649 1737688335 1463338610 368299848 335543039 Provides funding for educational loans and provides funding for student outreach programs; grants for scholarships. false false 85832689 218000 101546223 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, scholarship searches, grants for scholarships and financial literacy. 86667 The student outreach program provides prospective and current students and their families resources and tools to assist with college and career planning. The program helps students and their families plan for the cost of higher education by explaining various options and sources for funding. 431620 332973 The grant/scholarship program provides scholarships to students who demonstrate, through an application process, academic achievement, financial need, and involvement in community services. During 2017, ESA funded grants that provided scholarships to 50 students. 86350976 true 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 25 0 true 43 true false false false false false false false false false false X 8 5 false false false false false false false true true false false true true true true true true true true false X BILL THOMPSON 8658243051 12700 KINGSTON PIKE Knoxville TN 37934 Leo Cooper Director 1.0 0.0 X 0 0 0 Dwight Kessel Director 1.0 0.0 X 0 0 0 John Griess Director 1.0 0.0 X 0 0 0 Tommy Schumpert Director 15.0 0.0 X 90278 0 0 John Arnold President 20.0 0.0 X X 1354434 298536 6613 Bill Thompson Chief Financial Officer 20.0 0.0 X X 441355 284107 7709 Eric Stewart Chief Operating Officer 40.0 0.0 X 254855 0 20065 Tildon Wayne Hood Chief Compliance Officer 20.0 0.0 X 112577 71840 18056 Jeff Gibbs CIO 20.0 0.0 X 163319 148958 24113 Barbara Thomas EVP 40.0 0.0 X 303167 327308 12047 Mike O'Donnell VP Finance 19.0 0.0 X 65985 286558 15543 Joe Littleton ISO 40.0 0.0 X 53558 40491 10437 Eva Todd CHRO 40.0 0.0 X 80803 80012 10538 Darwin Jarman Facilities Manager 40.0 0.0 X 136655 0 8876 William Taylor Systems Administrator 40.0 0.0 X 126413 0 7825 3183399 1537810 141822 8 false true false American Education ServicesPHEAA PO Box 64849 BALTIMORE MD 21264 Loan Servicing 3808288 Bright Futures Financial 5100 78th Avenue N Ste 1 PINELLAS PARK FL 33781 Consolidations 1187995 Great Lakes PO Box 8970 MADISON WI 537088970 Loan Servicing 1104008 BDO USA LLP PO Box 642743 PITTSBURGH PA 15264 Audit/Tax Prep 913447 Tavant Technologies PO Box 670407 DALLAS TX 752670407 IT Program/Coding 546775 14 0 INTEREST & FEES ON STUDENT LOANS 522200 91200970 91200970 91200970 7555267 7555267 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 ADMINISTRATION FEES 900099 5952964 5952964 LOAN SERVICING FEES 900099 4392289 4392289 MISCELLANEOUS INCOME 900099 252364 252364 10597617 109353854 101546223 7807631 553573 553573 0 0 0 3002617 2957994 44623 0 1685650 698855 986795 0 109147 85135 24012 312920 244078 68842 229417 178945 50472 1184468 651754 532714 215741 6993 208748 714650 714650 0 0 0 0 454476 454476 107746 107746 441574 441574 0 889310 693662 195648 78217 61009 17208 0 23207 18101 5106 56243984 56243984 0 282523 220368 62155 209446 163368 46078 LOAN SERVICING & ADMIN FEES 21523448 21523448 LOAN LOSS RESERVE 274640 274640 OUTRECH COMMUNITY EDUCATION 178579 139292 39287 TRUSTEE FEES 148644 148644 1323920 1032658 291262 90187897 86350977 3836920 0 3036031 5832195 118679163 93896248 0 0 1822995756 1521890165 0 0 0 0 0 0 0 0 353807 540758 3736449 836280 3170404 2900169 0 0 107433116 124319404 0 0 0 0 50319906 49502710 2105988183 1798881649 14017938 10172223 0 0 0 0 0 0 0 0 0 0 1723670397 1453166387 0 0 0 0 1737688335 1463338610 X 368299848 335543039 0 0 0 0 368299848 335543039 2105988183 1798881649 X 19165957 -51922766 X false true X true true true X 0 0 0 0 0 0 99775987 125144322 140388214 113391313 91200970 569900806 0 0 0 99775987 125144322 140388214 113391313 91200970 569900806 0 0 0 569900806 8875654 11243447 10726298 6680838 7555267 45081504 0 8875654 11243447 10726298 6680838 7555267 45081504 0 10019964 13341706 13475581 17799111 10597617 65233979 118671605 149729475 164590093 137871262 109353854 680216289 0.83782 0.79601 0.06628 0.12172 X false 2291541 305484 1986057 66191 55226 10966 1378717 475571 903146 2900169 INVESTMENT IN SOUTHEAST BANCOR 124319404 F 124319404 0 0 X schedule d, part X, line 2 Accounting Standards Codification ("ASC") 740 (formerly Financial Accounting Standards Board ("FASB") issued Interpretation No. 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, 2017. true The University of Tennessee Foundation Suite 100 UT Conf Cntr Knoxville TN 37996 621844686 501(c)(3) 197000 SCHOLARSHIPS The Lampo Group LLC 1749 Mallory Ln Brentwood TN 37027 621593846 21000 Donation Bryan College 721 Bryan Drive Dayton TN 37321 620528217 501(c)(3) 26000 Scholarships Cleveland State Foundation PO Box 3570 Cleveland TN 37230 620762876 Govt 26000 Scholarships Cookeville Higher Education Campus Fdn 1000 Neal Street Cookeville TN 38501 620818836 Govt 16438 Scholarships Lee University 1120 N Ocoee Street Cleveland TN 37311 620502739 501(c)(3) 30000 Scholarships Pellissippi State Foundation 10915 Hardin Valley RD Knoxville TN 37932 620938734 Govt 9000 Scholarships Southern Adventist University 5010 University Drive Collegedale TN 37315 620536733 501(c)(3) 30000 Scholarships Tennessee Tech University 1000 North Dixie Ave Cookeville TN 38501 620646806 Govt 45000 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) 51000 Scholarships 10 1 Schedule I, Part I, Line 2 [OPEN] X true true X X X false false false false false false false false false John Arnold President 665221 293000 671334 0 17879 5536 0 0 6613 0 1361047 298536 0 10000 Eric Stewart Chief Operating Officer 217232 0 30000 0 7623 0 10862 0 9203 0 274920 0 24000 0 Bill Thompson Chief Financial Officer 260114 277500 173409 0 7832 6607 0 0 7709 0 449064 284107 0 7500 Tildon Wayne Hood Chief Compliance Officer 98760 65840 9000 6000 4817 0 5388 3592 9076 0 127041 75432 5250 3500 Jeff Gibbs CIO 156651 148958 0 0 6668 0 6750 6750 10613 0 180682 155708 9413 8587 Barbara Thomas EVP 254167 265000 49000 51000 0 11308 0 6625 0 5422 303167 339355 0 0 Mike O'Donnell VP Finance 54585 235000 11400 48600 0 2958 1716 4406 0 9421 67701 300385 4005 13995 Eva Todd CHRO 67512 67512 12500 12500 791 0 3094 3719 2850 875 86747 84606 12920 11080 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 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 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 executive 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: $2,489,061 Non Controlling Interest Income: $209,853 Audit Restatement Adjustment: $(54,621,680) Total Other Changes in Net Assets: $(51,922,766) Edsouth Indenture #1 LLC 12700 Kingston Pike Farragut TN 37934 Student Loans TN 4038585 38194436 NA North Oaks LLC 12700 Kingston Pike Farragut TN 37934 Student Loans TN 349216 66654219 NA Edsouth Indenture #2 LLC 12700 Kingston Pike Farragut TN 37934 Student Loans TN 10011598 118104867 NA Edsouth Indenture #3 LLC 12700 Kingston Pike Farragut TN 37934 Student Loans TN 11516661 172055504 NA Edsouth Indenture #4 LLC 12700 Kingston Pike Farragut TN 37934 Student Loans TN 206117841 12485754 NA Edsouth Indenture #5 LLC 12700 Kingston Pike Farragut TN 37934 Student Loans TN 5327059 85701217 NA Edsouth Indenture #6 LLC 12700 Kingston Pike Farragut TN 37934 Student Loans TN 11763692 208206868 NA Edsouth Indenture #7 LLC 12700 Kingston Pike Farragut TN 37934 Student Loans TN 6202321 100934387 NA Edsouth Indenture #8 LLC 12700 Kingston Pike Farragut TN 37934 Student Loans TN 9600448 160966601 NA Edsouth Indentue #9 LLC 12700 Kingston Pike Farragut TN 37934 Student Loans TN 16949058 282694525 NA Edsouth Indenture #10 LLC 12700 Kingston Pike Farragut TN 37934 Student Loans TN 7425972 110854261 NA SouthEast Bancorp Inc 12700 Kingston Pike Farragut TN 37934 262930965 Commercial Bank TN NA C Corp 9393584 127206513 0.97050 true SouthEast Bank 12700 Kingston Pike Farragut TN 37934 621859961 Banking Invest TN SouthEast Banco C Corp 80181154 1485367732 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 true false true true false false SouthEast Bank a 143407 actual SouthEast Bank g 23240655 actual SouthEast Bank h 67709947 actual SouthEast Bancorp Inc h 10000010 actual SouthEast Bancorp Inc k 478415 actual SouthEast Bank l 348172 estimation SouthEast Bank m 11084 actual SouthEast Bank n 153332 actual SouthEast Bancorp Inc p 47805 actual SouthEast Bank q 997678 actual