2017-08-04T15:57:39-05:00 2016-09-30 861065772 DELOITTE TAX LLP 111 MONUMENT CIRCLE SUITE 4200 INDIANAPOLIS IN 462045108 990 2015-10-01 946050341 UNITED STUDENT AID FUNDS INC UNIT 3178061231 9998 CROSSPOINT BLVD NO 400 INDIANAPOLIS IN 462563307 STEPHEN C HAM EVP & CFO 3178061231 2017-08-04 1 SHAWNA M JIMENEZ P01222873 3174648600 2017-07-27 2015 2021-01-29 14:40:06Z WILLIAM HANSEN 9998 CROSSPOINT BLVD NO 400 INDIANAPOLIS IN 462563307 615394047 0 X WWW.LOANSOLUTIONS.USAFUNDS.ORG X 1960 DE TO ENHANCE POSTSECONDARY EDUCATION PREPAREDNESS, ACCESS AND SUCCESS X 12 11 157 0 -4643771 -4940278 0 0 451734048 331228549 92139112 23596080 0 0 543873160 354824629 24583684 30328783 0 0 27105022 13731689 0 0 0 320787017 240756946 372475723 284817418 171397437 70007211 1353187938 1126675694 279818814 252061077 1073369124 874614617 X UNITED STUDENT AID FUNDS, INC.'S MISSION IS TO ENHANCE POSTSECONDARY EDUCATION PREPAREDNESS, ACCESS AND SUCCESS BY PROVIDING AND SUPPORTING FINANCIAL AND OTHER VALUED SERVICES. 0 0 18763300 31275167 GUARANTEE SERVICES - UNITED STUDENT AID FUNDS, INC. MAINTAINS A PORTFOLIO OF OVER $46.6 BILLION IN OUTSTANDING EDUCATIONAL LOAN GUARANTEE IN ACCORDANCE WITH THE HIGHER EDUCATION ACT OF 1965, AS AMENDED. 3349312 2771900 DEFAULT AVERSION - UNITED STUDENT AID FUNDS, INC. WORKED WITH BORROWERS AND SUCCESSFULLY AVERTED DEFAULTS ON OVER $16.4 BILLION OF DELINQUENT EDUCATIONAL LOANS REPORTED BY LENDERS IN THE CURRENT YEAR. 187466366 241866706 COLLECTION ON DEFAULTED LOANS - UNITED STUDENT AID FUNDS, INC. SUCCESSFULLY COLLECTED OVER $1.6 BILLION ON DEFAULTED EDUCATIONAL LOANS IN THE CURRENT YEAR. 44399979 30328783 55314776 INCLUDES OTHER GUARANTOR REVENUES, AS DEFINED BY THE US HIGHER EDUCATION ACT AND ADMINISTRATIVE FEES CHARGED TO RELATED TAX EXEMPT ORGANIZATIONS. 44399979 30328783 55314776 253978957 1 0 0 1 0 0 0 0 1 0 1 1 0 1 1 1 0 1 0 0 1 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 1 1 1 0 0 1 106 0 1 157 1 1 1 0 0 0 0 0 0 0 0 0 X 12 11 1 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 0 0 0 AZ CA IL IN OR X DEBORAH L MCCLOUD 3178061231 9998 CROSSPOINT BLVD STE 400 INDIANAPOLIS IN 462563307 EDWARD SCHMIDT BOARD MEMBER 2.00 5.00 X 70775 0 0 ERNEST NEWBORN II BOARD MEMBER 2.00 6.00 X 65750 0 0 WILLIAM NEALE BOARD MEMBER 1.00 5.00 X 62257 0 0 ILENE NAGEL BOARD MEMBER 2.00 5.00 X 66750 0 0 ERIK MORENO BOARD MEMBER 2.00 5.00 X 66750 0 0 MICHAEL KING BOARD MEMBER 1.00 5.00 X 61750 0 0 MARSHALL GRIGSBY BOARD MEMBER 2.00 5.00 X 68730 0 0 BLAKE DEVITT BOARD MEMBER 2.00 5.00 X 69700 0 0 MARLENE COULIS BOARD MEMBER 1.00 5.00 X 61750 0 0 REV WILLIAM BEAUCHAMP BOARD MEMBER 1.00 6.00 X 64250 0 0 IKE BATALIS CHAIRMAN 2.00 7.00 X 80775 0 0 WILLIAM HANSEN PRESIDENT & CEO 12.00 35.00 X X 879954 0 124479 DAVID SHANE EVP & COO THRU 6/3/16 11.00 31.00 X 326602 0 1593 MARK PELESH EVP CORP & BUS DEV 11.00 33.00 X 425548 0 90514 SHITAL PATEL CIO 11.00 30.00 X 51457 0 4274 LARRY LUTZ SVP STUDENT FIN PROG 11.00 33.00 X 359304 0 73590 STEPHEN C HAM EVP & CFO 11.00 33.00 X 432592 0 88855 ALISON GRIFFIN SVP EXTERNAL & GOVT REL 11.00 31.00 X 231593 0 26511 SCOTT FLEMING SR VP, STRATEGY & CORP DEV 11.00 30.00 X 187165 0 18326 THOMAS DAWSON SVP & COO 11.00 32.00 X 178892 0 3476 CAROL D'AMICO EVP NAT ENG & MISS ADV 10.00 33.00 X 378758 0 67447 CRAIG P ANDERSON SVP BUS DEV 11.00 30.00 X 340752 0 69982 DAVID B BOODT EVP & GEN COUNSEL 11.00 33.00 X 387522 0 81363 DEBORAH MCCLOUD VP & CONTROLLER 30.00 0.00 X 192878 0 53726 LEONARD GURIN VP CASH & INVESTMENTS 40.00 0.00 X 200564 0 54352 MILAN D TESANOVICH FORMER DIR INFO MGMT THRU 12/31/15 40.00 0.00 X 194072 0 59024 CEBRA GRAVES VP, RESEARCH PLAN & INSIGHTS 40.00 0.00 X 220722 0 54369 VERNETTA FAIRLEY DIR, SPECIAL PROGRAMS THRU 10/31/15 40.00 0.00 X 200432 0 39340 JONI M ANDERSON VP & SR CORP COUNSEL 35.00 5.00 X 196747 0 50337 ANNE CALVERT VP FINANCIAL ANALYSIS 40.00 0.00 X 191633 0 50873 ROBERT BALLARD FORMER OFFICER 0.00 0.00 X 619754 0 0 GREGORY AYERS FORMER OFFICER 0.00 0.00 X 559924 0 0 KAREN L DEVILLA FORMER HIGHEST COMPENSATED EMPLOYEE 0.00 0.00 X 200936 0 29076 7697038 0 1041507 74 1 1 0 NAVIENT 11100 USA PARKWAY FISHERS IN 46038 GUARANTOR SERVICES 155162156 MORGAN LEWIS & BROCKUS 1800 M STREET NW WASHINGTON DC 200365869 LEGAL FEES 756317 LANDMARK MEDIA ENTERPRISES LLC 150 WEST BRAMBLETON AVENUE NORFOLK VA 235102075 DATA HOSTING 712209 KELLY SERVICES INC 1212 SOLUTIONS CENTER CHICAGO IL 606771002 CONTRACTOR SERVICES 547685 ERNST & YOUNG 111 MONUMENT CIR 2600 INDIANAPOLIS IN 46204 ACCOUNTING & AUDIT SERVICES 517888 29 COLLECTIONS ON DEFAULT 611710 241866706 241866706 ADMINISTRATIVE FEES 611710 55314776 55314776 GUARANTEE SERVICES 611710 31275167 31275167 DEFAULT AVERSION FEES 611710 2771900 2771900 331228549 14067896 -4643771 18711667 270097602 260569418 9528184 9528184 9528184 354824629 331228549 -4643771 28239851 30328783 30328783 2762444 2762444 8983410 5996460 2986950 140849 14979 125870 1157505 370750 786755 687481 285956 401525 388513 57688 330825 356794 356794 193262 193262 2098983 2098983 22564186 4817668 17746518 393871 39247 354624 44244 10975 33269 3247350 2357843 889507 284017 284017 480981 24679 456302 391460 2825 388635 717 717 92202 225 91977 102772 102772 COLLECTION EXPENSE 187466366 187466366 ACCT. MAINT. & ISSUANCE 18763300 18763300 DEFAULT AVERSION FEES 3349313 3349313 DUES & ASSOCIATION FEES 479627 80190 399437 58988 11710 47278 284817418 253978957 30838461 0 7806557 68228665 45984082 36858920 18559075 16016207 584575 106516 815779 478059 401955917 267765748 626310782 567917582 251755746 169410513 1353187938 1126675694 81725590 65225443 18997064 22097448 16888397 129998712 143280112 27000000 26667125 279818814 252061077 X 1073369124 874614617 1073369124 874614617 1353187938 1126675694 X 70007211 66238282 -335000000 X 0 1 X 1 1 1 X 147909 5221 153130 419207130 496160542 547262952 451734048 331228549 2245593221 419207130 496308451 547268173 451734048 331228549 2245746351 125000 125000 0 125000 125000 2245621351 15931613 17783084 17729082 19446850 18813048 89703677 15931613 17783084 17729082 19446850 18813048 89703677 435138743 514091535 564997255 471180898 350041597 2335450028 0.96150 0.96430 0.03840 0.03560 X 0 1 0 0 0 0 1 160113 0 1 35000 195113 0 PART II-B, LINE 1: UNITED STUDENT AID FUNDS, INC. PAYS DUES TO THE UNITED STATES CHAMBER OF COMMERCE - A PORTION OF WHICH IS ALLOCABLE TO LOBBYING ACTIVITIES. 0 1 X 240546 240546 250687 13174 237513 93342 93342 0 478059 FIXED INCOME: CORPORATE BONDS 27785342 F FIXED INCOME: ASSET-BACKED SECURITIES 30130116 F HEDGE FUNDS - EQUITY 99213054 F HEDGE FUNDS - FIXED INCOME 27025115 F LIMITED LIABILITY CORPORATIONS - EQUITY 102116881 F LIMITED LIABILITY CORPORATIONS - FIXED INCOME 55004109 F LIMITED LIABILITY PARTNERSHIPS - EQUITY 55399224 F LIMITED LIABILITY PARTNERSHIPS - FIXED INCOME 31991981 F PRIVATE EQUITIES 115929797 F POOLED SEPARATE ACCOUNTS 23321963 F 567917582 RECEIVABLE FROM FED FUND 23456452 ASSETS HELD ON BEHALF OF FED RESERVE 143280112 DEFAULTED LOANS PURCHASED 36314 INSURANCE AND OTHER RECEIVABLES 2637635 169410513 CONTINGENT LIABILITY 23180117 DUE TO AFFILIATES 3487008 26667125 X PART IV, LINE 2B: LIABILITIES INCURRED ON BEHALF OF THE FEDERAL RESERVE. PART X, LINE 2: UNITED STUDENT AID FUNDS, INC. IS INCLUDED IN THE CONSOLIDATED FINANCIAL STATEMENTS OF USA FUNDS, INC. PER THE CONSOLIDATED FINANCIAL STATEMENTS, "USA FUNDS ACCOUNTS FOR UNCERTAINTIES IN INCOME TAXES ON A MORE-LIKELY-THAN-NOT CRITERIA BASED ON THE POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. THERE ARE NO UNCERTAINTIES THAT REQUIRE RECOGNITION OR DISCLOSURE AS OF SEPTEMBER 30, 2016 AND 2015." SUB-SAHARAN AFRICA INVESTMENTS 963108 CENTRAL AMERICA & THE CARIBBEAN INVESTMENTS 99737039 EUROPE (INCLUDING ICELAND AND GREENLAND) INVESTMENTS 26513220 NORTH AMERICA INVESTMENTS 597888 EAST ASIA AND THE PACIFIC INVESTMENTS 1301022 0 0 0 0 0 0 129112277 0 129112277 1 0 1 0 1 0 1 ASIAN & PACIFIC ISLANDER AMERICAN SCHOLARSHIP FUND 2025 M STREET NW SUITE 610 WASHINGTON DC 20036 571192973 501(C)(3) 19200 OPERATING GRANT ASSOCIATION OF PUBLIC AND LAND-GRANT UNIVERSITIES (APLU) 1307 NEW YORK AVENUE NW SUITE 400 WASHINGTON DC 20005 530183246 501(C)(3) 25000 OPERATING GRANT ARIZONA STATE UNIVERSITY FOUNDATION FOR A NEW AMERICAN UNIVERSITY PO BOX 2260 TEMPE AZ 85280 866051042 501(C)(3) 125000 OPERATING GRANT BRENTWOOD COMMUNITY FOUNDATION 13033 LANDMARK HOUSTON TX 77045 760454399 501(C)(3) 7500 MATCHING GIFTS CARLTHORP SCHOOL 438 SAN VICENTE BLVD SANTA MONICA CA 90402 953512203 501(C)(3) 8250 MATCHING GIFTS CONGREGATION OF HOLY CROSS US PROVINCE INC PO BOX 1064 NOTRE DAME IN 46556 320344245 501(C)(3) 35000 DIRECTED GIFT/MATCHING GIFTS FAMILY RESOURCE CENTER INC PO BOX 329 RAYMOND MS 39154 113697689 501(C)(3) 10000 MATCHING GIFTS FOUNDATION FOR EXCELLENCE IN EDUCATION INC 215 S MONROE STREET SUITE 420 TALLAHASSEE FL 32301 260615175 501(C)(3) 25000 OPERATING GRANT HAWAII P-20 310 W KAAHUMANU AVENUE KAHULUI HI 96732 996000354 501(C)(3) 51754 OPERATING GRANT INDIANA UNIVERSITY FOUNDATION PO BOX 500 BLOOMINGTON IN 47402 356018940 501(C)(3) 9600 MATCHING GIFTS JOBS FOR AMERICA'S GRADUATES INC 1729 KING STREET SUITE 100 ALEXANDRIA VA 22314 521194546 501(C)(3) 763000 OPERATING GRANT MARIAN UNIVERSITY 3200 COLD SPRING ROAD INDIANAPOLIS IN 46222 350868175 501(C)(3) 20000 OPERATING GRANT/DIRECTED GIFT MARTIN UNIVERSITY 2171 AVONDALE PLACE INDIANAPOLIS IN 46218 310970262 501(C)(3) 11200 DIRECTED GIFT/MATCHING GIFTS MILLION MEAL MOVEMENT 9250 CORPORATE DRIVE SUITE 300 INDIANAPOLIS IN 46256 208533217 501(C)(3) 13437 OPERATING GRANT MONTANA DEPARTMENT OF LABOR AND INDUSTRY 2500 BROADWAY PO BOX 203201 HELENA MT 596203201 810302402 STATE OF MT 150000 OPERATING GRANT NATIONAL COUNCIL FOR ADOPTION 225 N WASHINGTON STREET 2ND FLOOR ALEXANDRIA VA 22314 751721671 501(C)(3) 25000 OPERATING GRANT NATIONAL SKILLS COALITION 1730 RHODE ISLAND AVENUE NW SUITE 712 WASHINGTON DC 20036 300075580 501(C)(3) 10000 OPERATING GRANT NATIONAL URBAN LEAGUE 120 WALL STREET NEW YORK NY 10005 131840489 501(C)(3) 300000 OPERATING GRANT PROJECT LEAD THE WAY 3939 PRIORITY WAY SOUTH DRIVE SUITE 400 INDIANAPOLIS IN 46240 141816385 501(C)(3) 500000 OPERATING GRANT PURDUE FOUNDATION 403 WEST WOOD STREET WEST LAFAYETTE IN 47907 351052049 501(C)(3) 15900 DIRECTED GIFT STRADA EDUCATION NETWORK INC 9998 CROSSPOINT BLVD INDIANAPOLIS IN 462563307 473044430 501(C)(3) 29200000 OPERATING GRANT STILTS SPIRIT - A GIVING TREE 17338 WESTFIELD PARK ROAD SUITE ONE ONE WESTFIELD IN 46074 464225109 501(C)(3) 6250 OPERATING GRANT THE ASPEN INSTITUTE ONE DUPONT CIRCLE NW SUITE 700 WASHINGTON DC 20036 840399006 501(C)(3) 75000 OPERATING GRANT THE LINKS FOUNDATION INCORPORATED 1200 MASSACHUSETTS AVE NW WASHINGTON DC 20005 521170830 501(C)(3) 18000 MATCHING GIFTS US CHAMBER OF COMMERCE FOUNDATION 1615 H STREET NW WASHINGTON DC 20062 461561597 501(C)(3) 25000 OPERATING GRANT UNITED NEGRO COLLEGE FUND 3737 N MERIDIAN STREET SUITE 203 INDIANAPOLIS IN 46208 131624241 501(C)(3) 10000 OPERATING GRANT UNITED STATES CONFERENCE OF MAYORS 1620 I STREET NW 4TH FLOOR WASHINGTON DC 20006 530196642 501(C)(3) 400000 OPERATING GRANT UNIVERSITY OF HAWAII 2444 DOLE STREET BACHMAN HALL 105 HONOLULU HI 96822 990085260 501(C)(3) 1250000 OPERATING GRANT UNIVERSITY OF PORTLAND 5000 N WILLAMETTE BLVD PORTLAND OR 97219 930401259 501(C)(3) 25000 OPERATING GRANT 29 0 PART I, LINE 2: UNITED STUDENT AID FUNDS, INC.'S GRANT-MAKING IS LIMITED TO THE 50 U.S. STATES AND THE DISTRICT OF COLUMBIA. UNITED STUDENT AID FUNDS, INC. MONITORS THE USE OF GRANT FUNDS BY REQUIRING THE GRANTEE TO SEND IN A FINAL ACCOUNTING REPORT DESCRIBING HOW THE FUNDS WERE USED. THIS REPORT WILL INCLUDE ACTUAL EXPENSES THAT WOULD BE COMPARED TO THE BUDGET SENT IN WITH THE ORGINAL GRANT REQUEST. IN ADDITION, PROGRAM OFFICERS PERFORM SITE VISITS OR ATTEND EVENTS THAT UNITED STUDENT AID FUNDS, INC. HAS SPONSORED. X X 1 1 X X X X X X 1 1 0 0 0 0 0 1 0 WILLIAM HANSEN PRESIDENT & CEO 500601 0 355830 0 23523 0 97740 0 26739 0 1004433 0 0 0 DAVID SHANE EVP & COO THRU 6/3/16 246346 0 71769 0 8487 0 1593 0 0 0 328195 0 0 0 MARK PELESH EVP CORP & BUS DEV 272601 0 121057 0 31890 0 63775 0 26739 0 516062 0 0 0 LARRY LUTZ SVP STUDENT FIN PROG 241601 0 92041 0 25662 0 46851 0 26739 0 432894 0 0 0 STEPHEN C HAM EVP & CFO 279339 0 124402 0 28851 0 65259 0 23596 0 521447 0 0 0 ALISON GRIFFIN SVP EXTERNAL & GOVT REL 172250 0 58656 0 687 0 25511 0 1000 0 258104 0 0 0 SCOTT FLEMING SR VP, STRATEGY & CORP DEV 152778 0 33433 0 954 0 0 0 18326 0 205491 0 0 0 THOMAS DAWSON SVP & COO 146678 0 31673 0 541 0 0 0 3476 0 182368 0 0 0 CAROL D'AMICO EVP NAT ENG & MISS ADV 249262 0 109708 0 19788 0 57595 0 9852 0 446205 0 0 0 CRAIG P ANDERSON SVP BUS DEV 229666 0 93490 0 17596 0 40693 0 29289 0 410734 0 0 0 DAVID B BOODT EVP & GEN COUNSEL 255101 0 111192 0 21229 0 52124 0 29239 0 468885 0 0 0 DEBORAH MCCLOUD VP & CONTROLLER 152889 0 37648 0 2341 0 29580 0 24146 0 246604 0 0 0 LEONARD GURIN VP CASH & INVESTMENTS 156301 0 38270 0 5993 0 26613 0 27739 0 254916 0 0 0 MILAN D TESANOVICH FORMER DIR INFO MGMT THRU 12/31/15 157219 0 32692 0 4161 0 34878 0 24146 0 253096 0 0 0 CEBRA GRAVES VP, RESEARCH PLAN & INSIGHTS 176649 0 43678 0 395 0 27630 0 26739 0 275091 0 0 0 VERNETTA FAIRLEY DIR, SPECIAL PROGRAMS THRU 10/31/15 98925 0 19768 0 81739 0 20458 0 18882 0 239772 0 0 0 JONI M ANDERSON VP & SR CORP COUNSEL 156412 0 38412 0 1923 0 26341 0 23996 0 247084 0 0 0 ANNE CALVERT VP FINANCIAL ANALYSIS 150724 0 36473 0 4436 0 25057 0 25816 0 242506 0 0 0 ROBERT BALLARD FORMER OFFICER 0 0 0 0 619754 0 0 0 0 0 619754 0 0 0 GREGORY AYERS FORMER OFFICER 0 0 0 0 559924 0 0 0 0 0 559924 0 0 0 KAREN L DEVILLA FORMER HIGHEST COMPENSATED EMPLOYEE 4983 0 7287 0 188666 0 2337 0 26739 0 230012 0 0 0 PART I, LINE 1A FIRST CLASS TRAVEL - FIRST CLASS TRAVEL IS APPROVED FOR ALL TRUSTEES IF THE FLIGHT IS MORE THAN 2 HOURS IN DURATION OR IF A MEDICAL CONDITION EXISTS WHICH REQUIRES THE NEED FOR AN UPGRADE. THIS NON-TAXABLE BUSINESS EXPENSE IS NOT TREATED AS ADDITIONAL TAXABLE COMPENSATION TO THE TRUSTEE. FIRST CLASS TRAVEL IS APPROVED FOR EMPLOYEES, AT THE DISCRETION OF THE CEO, IF THEY TRAVEL FREQUENTLY AS PART OF THEIR POSITION OR IF A MEDICAL CONDITION EXISTS WHICH REQUIRES THE NEED FOR AN UPGRADE. EVP & CFO STEVE HAM HAS BEEN APPROVED BY WILLIAM HANSEN, CEO, FOR ONE CLASS UPGRADE, WHICH MAY RESULT IN FIRST CLASS TRAVEL, DUE TO A MEDICAL CONDITION. THIS NON-TAXABLE BUSINESS EXPENSE IS NOT TREATED AS ADDITIONAL TAXABLE COMPENSATION. HEALTH OR SOCIAL CLUB DUES - UNITED STUDENT AID FUNDS, INC. MAY REIMBURSE EACH EMPLOYEE UP TO A MAXIMUM OF $250 PER CALENDAR YEAR FOR THE COST OF (I) EXERCISE EQUIPMENT PURCHASED DURING THE APPLICABLE CALENDAR YEAR AND/OR (II) A HEALTH OR FITNESS CLUB MEMBERSHIP. ALL REIMBURSEMENTS ARE CONSIDERED TAXABLE INCOME TO THE EMPLOYEE. PART I, LINE 4A: THE FOLLOWING FORMER OFFICERS OR HIGHLY COMPENSATED EMPLOYEES RECEIVED SEVERANCE PAYMENTS FROM THE ORGANIZATION DURING CALENDAR YEAR 2015: GREGORY AYERS $559,924 ROBERT BALLARD $619,754 KAREN DEVILLA $161,938 VERNETTA FAIRLEY $60,092 PART I, LINE 4B: THE CEO OF UNITED STUDENT AID FUNDS, INC. PARTICIPATES IN A SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN UNDER CODE SECTION 457(F). ANY AMOUNTS ULTIMATELY PAID UNDER THE PLAN TO THE CEO ARE REPORTED AS COMPENSATION ON FORM 990, SCHEDULE J, PART II, COLUMN B IN THE YEAR PAID. NO PAYMENTS WERE MADE UNDER THE PLAN DURING CALENDAR YEAR 2015. PART I, LINE 7: ALL OFFICERS AND ALL EMPLOYEES OF THE COMPANY PARTICIPATE IN THE "EMPLOYEE INCENTIVE PLAN." ANNUAL PAYMENTS ARE BASED ON OVERALL CORPORATE PERFORMANCE IN THE ACCOMPLISHMENT OF THE CORPORATE OBJECTIVES, AS EVALUATED BY THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES, AND INDIVIDUAL PERFORMANCE. THE AMOUNT OF THE PAYMENT IS A PERCENTAGE OF ANNUAL SALARY, VARYING BY THE SALARY GRADE OF THE INDIVIDUAL POSITION. FIXED ASSETS AND OTHER PROPERTY 2016-01-01 95000000 BOOK VALUE 473044430 STRADA EDUCATION NETWORK INC 9998 CROSSPOINT BLVD STE 400 INDIANAPOLIS IN 462563307 501(C)(3) INVESTMENT ASSETS 2016-02-01 250000000 BOOK VALUE 473044430 STRADA EDUCATION NETWORK INC 9998 CROSSPOINT BLVD STE 400 INDIANAPOLIS IN 462563307 501(C)(3) 1 1 0 0 PART II, LINE 2E: EXPLANATION OF INVOLVEMENT: STRADA EDUCATION NETWORK, INC. IS THE SOLE MEMBER OF UNITED STUDENT AID FUNDS, INC. AND APPOINTS THE BOARD OF TRUSTEES. THE DIRECTORS OF UNITED STUDENT AID FUNDS, INC. ARE ALSO THE DIRECTORS OF STRADA EDUCATION NETWORK, INC.IN ADDITION SOME EMPLOYEES OF UNITED STUDENT AID FUNDS, INC. BECAME EMPLOYEES OF STRADA EDUCATION NETWORK, INC. AS OF JANUARY 1, 2016. FORM 990, PART VI, SECTION A, LINE 2 PERSONS LISTED IN PART VII MAY HAVE A "BUSINESS RELATIONSHIP" WITH EACH OTHER BY VIRTUE OF SITTING ON RELATED UNITED STUDENT AID FUNDS, INC. BOARDS OR BY VIRTUE OF THEIR EMPLOYMENT WITH RELATED UNITED STUDENT AID FUNDS, INC. ENTITIES. FORM 990, PART VI, SECTION A, LINE 6 STRADA EDUCATION NETWORK, INC. IS THE SOLE MEMBER OF UNITED STUDENT AID FUNDS, INC. AND APPOINTS THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION A, LINE 7A STRADA EDUCATION NETWORK, INC. IS THE SOLE MEMBER OF UNITED STUDENT AID FUNDS, INC. AS THE SOLE MEMBER, STRADA HAS THE RIGHT TO (A) APPOINT AND REMOVE THE MEMBERS OF THE BOARD OF TRUSTEES OF UNITED STUDENT AID FUNDS, INC AND (B) FILL ANY VACANY ON THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION A, LINE 7B UNITED STUDENT AID FUNDS, INC.'S SOLE MEMBER IS STRADA EDUCATION NETWORK, INC. WHICH SHALL HAVE THE RIGHTS AND DUTIES AS PROVIDED IN THE CORPORATION'S BYLAWS. IN FURTHERANCE AND NOT IN LIMITATION OF THE POWERS CONFERRED BY LAW, THE MEMBER IS EXPRESSLY AUTHORIZED TO MAKE, ADOPT, ALTER, AMEND AND REPEAL, FROM TIME TO TIME, THE BYLAWS OF THE CORPORATION. THE MEMBER SHALL ACT THROUGH ACTION TAKEN BY ITS BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 11 THE GOVERNING BOARD WAS RESTRUCTURED AFTER YEAR END, THEREFORE, THE MAJORITY OF THE CURRENT GOVERNING BOARD WAS NOT IN PLACE DURING THE YEAR THE TAX RETURN ENCOMPASSES. IT WAS THEREFORE DETERMINED THAT SINCE THE FORM 990 WAS PREPARED AND REVIEWED BY MANAGEMENT AS WELL AS BY AN OUTSIDE ACCOUNTING FIRM THE REVIEW PROCESS PROVIDED THE NECESSARY SAFEGUARDS. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY, A CONFLICT OF INTEREST AND DISCLOSURE QUESTIONNAIRE IS REQUIRED TO BE COMPLETED BY ALL EMPLOYEES. THE PURPOSE OF THE QUESTIONNAIRE IS TO SOLICIT INFORMATION ABOUT RELATIONSHIPS THAT MAY CONSTITUTE A POTENTIAL CONFLICT OF INTEREST. EACH MEMBER OF THE BOARD OF TRUSTEES SIGNS AN ANNUAL CONFLICT OF INTERESTT DISCLOSURE STATEMENT THAT DISCLOSES ACTUAL OR POTENTIAL CONFLICTS OF INTEREST AS SET FORTH IN THE APPROVED CONFLICT OF INTEREST POLICY FOR TRUSTEES. THE DISCOLSURE STATEMENTS ARE REVIEWED BY THE GOVERANCE COMMITTEE OF THE BOARD OF TRUSTEES. WHEN ANY SUCH CONFLICT OF INTEREST IS RELEVANT TO A MATTER REQUIRING ACTION BY THE BOARD OF TRUSTEES OR ANY COMMITTEE, THE INTERESTED PERSON SHALL CALL IT TO THE ATTENTION OF THE CHAIR OF THE COMMITTEE, AND SUCH PERSON SHALL NOT VOTE ON THE MATTER. MOREOVER, THE PERSON HAVING THE CONFLICT SHALL LEAVE THE ROOM IN WHICH THE MEETING IS HELD AND NOT PARTICIPATE IN THE FINAL DELIBERATIONS OR DECISION REGARDING THE MATTER UNDER CONSIDERATION. A BOARD MEMBER SHALL ADVISE THE CHAIR OF THE GOVERANCE COMMITTEE AND THE CORPORTATE SECRETARY IN WRITING OF ANY POTENTIAL CONFLICTS OF INTEREST WHICH ARISE AFTER SIGNING THE CONFLICT OF INTEREST DISCLOSURE STATEMENT. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION DETERMINATIONS OF UNITED STUDENT AID FUNDS, INC.'S CEO AND THE OTHER OFFICERS FOR CALENDAR YEAR 2015 WERE MADE BY A COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES OF THE SOLE MEMBER, STRADA EDUCATION NETWORK, INC., WHOSE MEMBERS HAVE NO CONFLICT OF INTEREST WITHIN THE MEANING OF TREAS. REG. 53.4958-6(C)(1)(III). THE COMPENSATION COMMITTEE ESTABLISHES THE COMPENSATION PHILOSOPHY, AND WITH COMPARABILITY DATA PROVIDED BY AN INDEPENDENT COMPENSATION CONSULTANT, ANNUALLY EVALUATES THE PERFORMANCE OF THE CEO AND ALL OTHER OFFICERS, AND DETERMINES IN ADVANCE THE REASONABLENESS OF COMPENSATION PAID TO AND BENEFITS PROVIDED TO SUCH INDIVIDUALS. AS PART OF THE ANNUAL PERFORMANCE EVALUATION, THE COMPENSATION COMMITTEE SOLICITS THE VIEWS OF THE CHAIRS OF THE OTHER BOARD COMMITTEES. THE DETERMINATIONS MADE AND THE BASIS OF SUCH DETERMINATIONS ARE CONTEMPORANEOUSLY DOCUMENTED IN WRITTEN MINUTES, FINAL DETERMINATIONS ARE REPORTED TO THE FULL BOARD OF TRUSTEES. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ANY DOCUMENT OPEN TO THE PUBLIC INSPECTION AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: TRANSFER OF NET ASSETS TO STRADA EDUCATION NETWORK, INC. -345,000,000. TRANSFER OF NET ASSETS FROM NORTHWEST EDUCATION LOAN ASSOCIATION 10,000,000. NORTHWEST EDUCATION LOAN ASSOCIATION 9998 CROSSPOINT BLVD STE 400 INDIANAPOLIS IN 462563307 911068278 STUDENT LOAN GUARANTOR WA 501(C)(3) 9 UNITED STUDENT AID FUNDS INC 1 EDUCATION AT WORK INC 2300 WALL ST STE R CINCINNATI OH 45212 454035038 STUDENT EMPLOYEE OPPORTUNITIES OH 501(C)(3) 11B, II STRADA EDUCATION NETWORK INC 1 ROADTRIPNATIONORG LTD 1626 PLACENTIA AVENUE COSTA MESA CA 92627 263889207 STUDENT ASSISTANCE PROGRAM DE 501(C)(3) 7 STRADA EDUCATION NETWORK INC 1 STRADA EDUCATION NETWORK INC 9998 CROSSPOINT BLVD STE 400 INDIANAPOLIS IN 462563307 473044430 PARENT COMPANY DE 501(C)(3) 11C, III-FI N/A 0 ROADTRIP PRODUCTIONS LTD 1626 PLACENTIA AVENUE COSTA MESA CA 92627 043615743 EDUCATION OUTREACH DE STRADA EDUCATION NETWORK INC C 190622 7076402 1.00000 1 0 1 0 0 0 0 0 0 1 0 0 1 1 0 0 1 1 1 1 NORTHWEST EDUCATION LOAN ASSOCIATION L 244513 FMV NORTHWEST EDUCATION LOAN ASSOCIATION P 152455 COST REIMBURSEMENT NORTHWEST EDUCATION LOAN ASSOCIATION S 10000000 FMV STRADA EDUCATION NETWORK INC B 29200000 FMV STRADA EDUCATION NETWORK INC I 20575099 FMV STRADA EDUCATION NETWORK INC M 18900000 FMV STRADA EDUCATION NETWORK INC R 345000000 FMV STRADA EDUCATION NETWORK INC Q 8533717 COST REIMBURSEMENT