2018-05-15T15:04:05-05:00 2017-06-30 KPMG LLP 666 Grand Avenue Suite 2500 Des Moines IA 503092578 990 2016-07-01 421137531 Iowa Student Loan Liquidity Corporation % Ron W Foresman IOWA 5152737210 6775 Vista Drive West Des Moines IA 502669307 ERIN LACEY CFO 5152737210 2018-05-15 true CHELSEA BERNS P01225085 5152887465 2018-05-14 167.68.102.5 42011120181355000000 2018-05-15 P EB535B0219F6BF536083F7B422A8B68A49AAF06C 55718AD0153E791F3315D72D27656E543FED7AC8 2016 2021-01-29 14:40:06Z ERIN LACEY 6775 Vista Drive West Des Moines IA 502669307 59678226 false X www.studentloan.org X 1979 IA To help iowa students and families obtain the resources necessary to succeed in postsecondary education. 11 6 106 1 670253 608897 0 2700 59169506 57889433 2499953 1755263 43892 30830 61713351 59678226 0 0 0 0 6681289 7007875 0 0 0 64455463 69200725 71136752 76208600 -9423401 -16530374 1607297697 1631488541 1100784458 1121591256 506513239 509897285 To help Iowa students and families obtain the resources necessary to succeed in postsecondary education. false false 71268934 0 59005273 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, 2017, the Corporation owned and serviced loans totaling 244,596 with an outstanding balance of $1,481,667,878. 71268934 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 false false true true false false true false false false false false false false false false false false false true true true false false true 45 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 17129 0 0 Laurie Hempin Board Member 1.0 0.0 X 8281 0 0 Tammy Bramley Board Member 1.0 0.0 X 15226 0 0 Daniel Clute Board Member 1.0 0.0 X 8181 0 0 Adam Voigts Board Member 1.0 0.0 X 11283 0 0 Lorraine Groves Board Member 1.0 0.0 X 9156 0 0 Scott Schneidermann Board Member 1.0 0.0 X 11081 0 0 Rob Denson Board Member 1.0 0.0 X 0 0 0 Jim Schipper Board Member 1.0 0.0 X 10933 0 0 Miles Lackey Board Member 1.0 0.0 X 5475 0 0 Marcia Rogers Board Member 1.0 0.0 X 5306 0 0 Steve McCullough President & CEO 40.0 0.0 X 392068 0 44455 Erin Lacey EVP & Treasurer 40.0 0.0 X 229190 0 34803 Mary Kay DeBolt Sr. Operations VP & Secretary 40.0 0.0 X 0 195752 25118 Cindy Bartz CIO & Project Mgmt VP 40.0 0.0 X 175437 0 39124 Greg Nichols Sr. Pub Affairs & Comm Rel VP 40.0 0.0 X 180805 0 26087 Ron Foresman Accounting & Risk Mgmt VP 40.0 0.0 X 198752 0 33177 Marc Hendel Sr. Researcher & Data Mgr 40.0 0.0 X 185330 0 28654 Chi-Ming J Lin Chief Technical Architect 40.0 0.0 X 178694 0 31625 Marsha Boender DIR. OF LENDER & SCHOOL SVCS 40.0 0.0 X 148439 0 28406 Ted Bulens SENIOR SOFTWARE DEVELOPER 40.0 0.0 X 131463 0 18478 Greg Orton MANAGER OF IT DEPARTMENT 40.0 0.0 X 130163 0 14701 2052392 195752 324628 22 false true false Ahlers Cooney PC 100 Court Ave Suite 600 Des Moines IA 50309 Legal 387070 KPMG LLP 666 Grand Avenue Suite 2500 Des Moines IA 50309 Audit & Tax Services 327150 TSIBOURIS ASSOCIATES 470 OLDE WORTHINGTON ROAD WESTERVILLE OH 43082 LEGAL 108826 3 2700 2700 Student Loan Interest Income 522291 57275936 57275936 Other Student Loan Revenue 522291 613497 613497 57889433 1755263 1085010 670253 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Miscellaneous Income 522291 30830 30830 30830 59678226 59005273 670253 0 0 0 0 1278303 1278303 0 3409555 3409555 791515 669446 122069 900874 820179 80695 627628 437680 189948 0 501895 501895 450830 450830 144428 144428 0 0 0 312242 312242 381409 381409 1181693 1181693 0 375717 375717 87285 87285 0 83722 83722 32743592 32743592 0 1730925 1730925 0 Service Charges & Fees 13372316 13372316 0 0 Consolidated Rebate Fee 3852923 3852923 Provision for Loan Losses 7151957 7151957 Debt Related Expenses 3783395 3783395 3046396 2461395 585001 76208600 71268934 4939666 0 5043366 2510171 113184771 224055828 0 0 1362772903 1297012611 0 0 0 0 0 0 0 0 1603810 1386713 39869455 27310620 11995550 12558835 19737692 17377414 10503822 36712409 0 0 0 0 82455783 39874560 1607297697 1631488541 2785375 6556835 0 0 91806389 64428440 357985906 466311291 0 0 0 0 646484225 582307958 0 0 1722563 1986732 1100784458 1121591256 X 223355793 217618721 0 0 283157446 292278564 506513239 509897285 1607297697 1631488541 X -16530374 927785 18986635 X false true X true true true X 0 0 0 0 2700 2700 82729068 68885189 62548606 59169506 57889433 331221802 0 0 0 82729068 68885189 62548606 59169506 57892133 331224502 0 0 0 331224502 31236 220287 65270 2095034 1085010 3496837 0 31236 220287 65270 2095034 1085010 3496837 370507 608897 979404 2326 5270 46767 43892 30830 129085 82762630 69110746 62660643 61678939 59616870 335829828 0.98629 0.99159 0.01041 0.00705 X 144428 144428 76064172 76208600 1000000 250000 1000000 1000000 1000000 1000000 4000000 6000000 147900 144553 135641 144428 572522 250000 250000 250000 250000 1000000 1500000 0 0 0 0 0 3129449 3129449 7251977 1553329 5698648 1376897 1359525 17372 9370269 7680079 1690190 18740863 16717687 2023176 12558835 0 ACCRUED INTEREST PAYABLE 1986732 1986732 65481618 927785 4875607 5803392 59678226 59678226 62097570 -14111030 -14111030 76208600 76208600 Schedule D, Part XI, Line 2d NET INCOME FROM TAXABLE SUBSIDIARY -385,232 FEES FROM TAXABLE SUBSIDIARY -4,490,375 Schedule D, Part XII, Line 2d AMORTIZATION OF BONDS EXTINGUISHMENT GAIN -18,678,903 FEES FROM TAXABLE SUBSIDIARY 4,490,375 REVERSAL OF LOSS ON BOND REDEMPTION 77,498 X X X false false false false false false false false false Steve McCullough President & CEO 392068 0 0 0 0 0 25175 0 19280 0 436523 0 0 0 Erin Lacey EVP & Treasurer 229190 0 0 0 0 0 22743 0 12060 0 263993 0 0 0 Mary Kay DeBolt Sr. Operations VP & Secretary 0 195752 0 0 0 0 0 18972 0 6146 0 220870 0 0 Cindy Bartz CIO & Project Mgmt VP 175437 0 0 0 0 0 17991 0 21133 0 214561 0 0 0 Greg Nichols Sr. Pub Affairs & Comm Rel VP 180805 0 0 0 0 0 17651 0 8436 0 206892 0 0 0 Ron Foresman Accounting & Risk Mgmt VP 198752 0 0 0 0 0 19537 0 13640 0 231929 0 0 0 Marc Hendel Sr. Researcher & Data Mgr 185330 0 0 0 0 0 17719 0 10935 0 213984 0 0 0 Chi-Ming J Lin Chief Technical Architect 178694 0 0 0 0 0 17667 0 13958 0 210319 0 0 0 Marsha Boender DIR. OF LENDER & SCHOOL SVCS 148439 0 0 0 0 0 14787 0 13619 0 176845 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 A 158330000 0 231848004 2300000 0 0 2452123 0 0 0 0 0 2010 true false true true B 248300000 0 419500000 4195014 0 0 2418906 0 0 0 0 0 2012 true false true true C 4975000 0 40587485 1313000 0 0 745976 0 0 0 0 0 2016 false 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 true Morgan Stanley 19. false false 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 18,678,903 Income of Taxable Subsidiary 385,232 Loss of Taxable Subsidiary -77,498 ROUNDING ADJUSTMENT -2 Aspire Resources Inc 6775 Vista Drive West Des Moines IA 50266 421520183 Loan Servicing IA ISLLC C Corp 385232 36935125 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 N Aspire Resources Inc O Link Capital Partners LLC A 670253 Link Capital Partners LLC D