2017-08-07T14:40:18-05:00 2016-09-30 BDO USA LLP 8401 GREENSBORO DRIVE SUITE 800 MCLEAN VA 22102 990 2015-10-01 581757969 Educational Funding of the South Inc % KEN MANN EDUC 6157718505 501 Corporate Centre Drive Suite 32 Franklin TN 37067 RON GAMBILL CHAIRMAN/CEO 2017-05-11 true Marc Berger P01871563 7038930600 2015 2021-01-29 14:40:06Z RON GAMBILL 12700 KINGSTON PIKE FARRAGUT TN 37934 76178289 false X www.edsouth.org X 1985 TN ACQUISITION OF STUDENT loans, college and CAREER COUNSELING SERVICES, AND NEED BASED scholarships. 5 4 11 0 0 0 0 84225414 73116684 277821 2351452 581734 710153 85084969 76178289 128500 241500 0 0 1694035 1735493 0 0 0 85784835 71064716 87607370 73041709 -2522401 3136580 1879340862 1574476255 1689914638 1381913451 189426224 192562804 X SEE SCHEDULE O false false 67643368 73116684 ACQUISITION OF STUDENT LOANS MADE TO STUDENTS AND PARENTS PURSUANT TO TITLE IV OF THE HIGHER EDUCATION ACT OF 1965, AS AMENDED. NO LOANS WERE ACQUIRED DURING TAX YEAR 2016. 928808 STUDENT OUTREACH SERVICES ARE OFFERED TO STUDENTS IN ELEMENTARY SCHOOL THROUGH HIGH SCHOOL TO PROMOTE COLLEGE AND CAREER COUNSELING. STUDENT OUTREACH SERVICES ALSO OFFER FINANCIAL LITERACY PROGRAMS TO STUDENTS IN THE TENTH TO TWELFTH GRADE. 241500 241500 VOLUNTEER STATE STUDENT ASSISTANCE ScholarshipS ARE OFFERED TO STUDENTS BASED ON FINANCIAL NEED IN POST SECONDARY EDUCATION AT 4 YEAR PUBLIC COLLEGES AND PRIVATE COLLEGES THROUGHOUT THE STATE OF TENNESSEE. 68813676 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 false true true false false false false false false false false false false false false true true false false false true 14 0 true 11 true 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 40.0 0.0 X X 737779 0 19906 JOHN MAYS DIRECTOR 1.0 0.0 X 22000 0 0 MIKE RAGSDALE DIRECTOR 1.0 0.0 X 22000 0 0 RICHARD SMELSER DIRECTOR 1.0 0.0 X 21000 0 0 JEFF GERKIN DIRECTOR 1.0 0.0 X 21000 0 0 KEN MANN CFO 40.0 0.0 X 143754 0 13519 967533 0 33425 2 false true false KUDERINC 302 VISIONS PARKWAY ADEL IA 50003 STUDENT OUTREACH 300000 AES 1200 NORTH SEVENTH STREET HARRISBURG PA 17102 LOAN SERVICING 4022001 EDUCATIONAL SERVICES OF AMERICA IN 12700 KINGSTON PIKE KNOXVILLE TN 37934 ADMINISTRATION 4020523 BDO USA LLP 5430 WADE PARK BLVD SUITE 208 RALEIGH NC 27607 AUDIT SERVICES 186795 SOUTHEAST BANCORP 12700 KINGSTON PIKE KNOXVILLE TN 37934 OCCUPANCY 295203 7 0 BORROWER INTEREST 525990 73116684 73116684 73116684 794792 794792 0 0 0 0 0 1556660 1556660 1556660 1556660 0 0 0 MISCELLANEOUS 525990 710153 710153 710153 76178289 73116684 3061605 0 241500 241500 0 0 1540250 1232200 308050 0 0 51246 40997 10249 75216 60173 15043 68781 55025 13756 7230062 4338037 2892025 52931 42345 10586 236625 236625 0 0 172245 137796 34449 0 29238 23390 5848 8091 6473 1618 84051 67241 16810 145693 116554 29139 0 67277 53822 13455 0 29895 23916 5979 25220045 25220045 0 1801309 1441047 360262 0 LARS 22104648 22104648 CONSOLIDATION REBATE FEES 12511915 12511915 MISCELLANEOUS 1370691 1096552 274139 0 73041709 68813676 4228033 0 0 0 67481472 66746079 0 0 37760563 29534147 0 0 0 0 1739012265 1450756675 0 0 2018167 468737 460990 185890 341701 275100 23367930 25033283 0 0 0 0 0 0 9358764 1662234 1879340862 1574476255 10623744 7072162 0 0 0 0 0 0 0 0 0 0 1679290894 1374841289 0 0 0 0 1689914638 1381913451 X 189426224 192562804 0 0 0 0 189426224 192562804 1879340862 1574476255 3136580 X X false true X true true true X 0 0 0 0 0 0 146524791 114904092 100059008 84225414 73116684 518829989 0 0 0 146524791 114904092 100059008 84225414 73116684 518829989 0 0 0 518829989 18538442 285093 401779 277821 794792 20297927 0 18538442 285093 401779 277821 794792 20297927 0 1489706 286027 711685 581734 710153 3779305 166552939 115475212 101172472 85084969 74621629 542907221 0.95565 0.92625 0.03739 0.06285 X 211680 21002 190678 17973 17046 927 231337 147842 83495 275100 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, 2016 AND 2015 AND DETERMINED THERE WERE NO UNCERTAIN TAX POSITIONS THAT WOULD HAVE A MATERIAL IMPACT ON THE COMPANY'S CONSOLIDATED FINANCIAL STATEMENTS. true scholarships 63 241500 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. During the fiscal year 2016, EFS funded scholarahips that provided 241,500 to 63 students. X true true X X X X X false false false false false false false false false RON GAMBILL PRESIDENT/CEO 695208 0 0 0 42571 0 13250 0 6656 0 757685 0 0 0 KEN MANN CFO 132125 0 10500 0 1129 0 6651 0 6868 0 157273 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 DISCPLINARY 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 CTR DR SUITE 320 FRANKLIN TN 37067 STUDENT LOANS DE 1967535 99785056 EFS INC EFS VOLUNTEER NO 2 LLC 501 CORPORATE CTR DR SUITE 320 FRANKLIN TN 37067 STUDENT LOANS DE 2031766 359420973 EFS INC EFS VOLUNTEER NO 3 LLC 501 CORPORATE CTR DR SUITE 320 FRANKLIN TN 37067 STUDENT LOANS DE 1248096 287514765 EFS INC EFS SERVICING 501 CORPORATE CENTRE DRIVE SUITE 3 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 false