2016-05-13T15:36:44-05:00 2015-06-30 KPMG LLP 666 Grand Avenue Suite 2500 Des Moines IA 503092578 990 2014-07-01 421137531 Iowa Student Loan Liquidity Corporation % Ron W Foresman IOWA 5152737210 6775 Vista Drive West Des Moines IA 502669307 Erin Lacey CFO 2016-05-13 Chelsea Berns P01225085 5152887465 2014 2016-08-17 19:52:53Z Erin Lacey 6775 Vista Drive West Des Moines IA 502669307 62660643 false X www.studentloan.org X 1979 IA To help iowa students and families obtain the resources necessary to succeed in postsecondary education. 11 9 119 0 0 0 0 0 68885289 62548606 221181 65270 4376 46767 69110846 62660643 0 0 0 0 8756458 5936358 0 0 0 61757671 65760389 70514129 71696747 -1403283 -9036104 1975995101 1800822531 1484506405 1303985543 491488696 496836988 To help Iowa students and families obtain the resources necessary to succeed in postsecondary education. false false 66405078 62660643 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, 2015, the Corporation owned and serviced loans totaling 294,965 with an outstanding balance of $1,694,886,169. 66405078 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 false false false false false false false false false false false false false true false false false true 131 0 true 119 true false false false false false false false false false false X 11 9 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 Christine Hensley Board Chairperson 1.0 0.0 X 16034 0 0 Robert W Sackett Board Member 1.0 0.0 X 6054 0 0 John O'Byrne Board Member 1.0 0.0 X 9285 0 0 Laurie Hempin Board Member 1.0 0.0 X 7710 0 0 Dr Tahira K Hira Board Member 1.0 0.0 X 6754 0 0 Tammy Bramley Board Member 1.0 0.0 X 10888 0 0 Daniel Clute Board Member 1.0 0.0 X 8963 0 0 Adam Voigts Board Member 1.0 0.0 X 9340 0 0 Lorraine Groves Board Member 1.0 0.0 X 7306 0 0 Scott Schneidermann Board Member 1.0 0.0 X 8208 0 0 Rob Denson Board Member 1.0 0.0 X 0 0 0 Steve McCullough President & CEO 40.0 0.0 X 370870 0 37041 Erin Lacey EVP & Treasurer 40.0 0.0 X 217395 0 25204 Mary Kay DeBolt Sr. Operations VP & Secretary 40.0 0.0 X 186527 0 22704 Walter Witthoff Sr. Compliance VP 40.0 0.0 X 166314 0 24068 Marc Hendel Sr. Researcher & Data Mgr 40.0 0.0 X 185424 0 25610 Chi-Ming J Lin Chief Technical Architect 40.0 0.0 X 172993 0 24921 Greg Nichols Sr. Pub Affairs & Comm Rel VP 40.0 0.0 X 169612 0 21905 Cindy Bartz CIO & Proj Mgmt VP 40.0 0.0 X 159793 0 28415 Ron Foresman Controller 40.0 0.0 X 163471 0 23389 1882941 0 233257 26 false true false Ahlers Cooney PC 100 Court Ave Suite 600 Des Moines IA 50309 Legal 290366 KPMG LLP 666 Grand Avenue Suite 2500 Des Moines IA 50309 Audit and Tax 270896 2 0 Student Loan Interest Income 522291 59315511 59315511 Other Student Loan Revenue 522291 3233095 3233095 62548606 65270 65270 0 0 0 0 0 0 0 0 0 Miscellaneous Income 522291 46767 46767 46767 62660643 62660643 0 0 0 0 1882941 1882941 0 1888170 1888170 756619 604785 151834 778864 697441 81423 629764 31943 597821 0 264712 264712 171462 171462 144553 144553 0 0 0 344444 344444 566365 566365 1043052 1043052 0 423543 423543 79034 79034 0 41119 41119 30833680 30833680 0 1724564 1724564 0 Service Charges & Fees 16412340 16412340 Consolidated Rebate Fee 4728070 4728070 Provision for Loan Losses 4904587 4904587 Debt Related Expenses 1501713 1501713 2577151 2160239 416912 71696747 66405078 5291669 0 2655252 2234985 127934413 188709504 0 0 1725336193 1535213813 0 0 0 0 0 0 0 0 1007297 939828 36963920 23597188 13317123 13366732 67006533 30354866 6089476 9424320 0 0 0 0 32648814 20578483 1975995101 1800822531 9179992 5318987 0 0 128460321 105831151 462487962 435447872 0 0 0 0 882180212 755251546 0 0 2197918 2135987 1484506405 1303985543 X 254543136 229710833 0 0 236945560 267126155 491488696 496836988 1975995101 1800822531 X -9036104 -6017634 20402030 X false true X true true true X 0 0 0 0 0 0 105200952 70025366 82729068 68885289 62548606 389389281 0 0 0 105200952 70025366 82729068 68885289 62548606 389389281 0 0 0 389389281 90316 28783 31236 220287 65270 435892 0 90316 28783 31236 220287 65270 435892 0 228696 1200 2326 5270 46767 284259 105519964 70055349 82762630 69110846 62660643 390109432 0.99815 0.99722 0.00112 0.00211 X 144553 144553 71552194 71696747 1000000 250000 1000000 1000000 1000000 1000000 4000000 6000000 124356 139575 147900 144553 556384 250000 250000 250000 250000 1000000 1500000 3129449 3129449 7934032 1894460 6039572 7644325 6745375 898950 18256114 14957353 3298761 13366732 0 ACCRUED INTEREST PAYABLE 2135987 2135987 71876239 -6017634 15233230 9215596 62660643 62660643 66527948 -5168799 -5168799 71696747 71696747 Part XI, Line 2D FINANCIAL STATEMENT ELIMINATION -15,361,558 REVENUE OF TAXABLE SUBSIDIARY 30,594,788 Part XII, LINE 2D FINANCIAL STATEMENT ELIMINATION -15,361,558 AMORTIZATION OF BONDS EXTINGUISHMENT GAIN -19,257,252 EXPENSES OF TAXABLE SUBSIDIARY 29,450,511 X X X false false false false false false false false false Steve McCullough President & CEO 370870 0 0 0 0 0 24225 0 12816 0 407911 0 0 0 Erin Lacey EVP & Treasurer 217395 0 0 0 0 0 17013 0 8191 0 242599 0 0 0 Mary Kay DeBolt Sr. Operations VP & Secretary 186527 0 0 0 0 0 17206 0 5498 0 209231 0 0 0 Walter Witthoff Sr. Compliance VP 166314 0 0 0 0 0 16074 0 7994 0 190382 0 0 0 Marc Hendel Sr. Researcher & Data Mgr 185424 0 0 0 0 0 18029 0 7581 0 211034 0 0 0 Chi-Ming J Lin Chief Technical Architect 172993 0 0 0 0 0 16929 0 7992 0 197914 0 0 0 Greg Nichols Sr. Pub Affairs & Comm Rel VP 169612 0 0 0 0 0 15865 0 6040 0 191517 0 0 0 Cindy Bartz CIO & Proj Mgmt VP 159793 0 0 0 0 0 15599 0 12816 0 188208 0 0 0 Ron Foresman Controller 163471 0 0 0 0 0 10894 0 12495 0 186860 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 0 0 231848004 2300000 0 0 2452123 0 0 0 0 0 2010 true false true true B 0 0 419500000 5614800 0 0 2418906 0 0 0 0 0 2012 true false true true C 0 0 37800000 1512000 1134000 0 745976 0 0 0 0 11918163 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 11b 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 19,257,752 Revenue of Taxable Subsidiary 30,594,788 Expenses of Taxable Subsidiary -29,450,510 Aspire Resources Inc 6775 Vista Drive West Des Moines IA 50266 421520183 Loan Servicing IA ISLLC C Corp 1144277 9582088 1.00000 false false false false false false false false false false false false false false true true false false false false Aspire Resources Inc n Aspire Resources Inc o