2016-06-27T07:52:23-05:00 2015-09-30 BDO USA LLP 8401 GREENSBORO DRIVE SUITE 800 MCLEAN VA 22102 990 2014-10-01 581757969 Educational Funding of the South Inc % KEN MANN EDUC 6157718505 501 Corporate Centre Drive Franklin TN 37067 RON GAMBill CEO/PRESIDENT 7038930600 2016-06-26 true Mike Sorrells P00001737 7038930600 2014 2016-09-27 15:27:22Z RON GAMBILL 12700 KINGSTON PIKE FARRAGUT TN 37934 85084969 false X www.edsouth.org X 1985 TN ACQUISITION AND ORIGINATION OF STUDENT LOANS, COLLEGE AND CAREER COUNSELING SERVICES, AND NEED BASED SCHOLARSHIPS 5 4 11 0 0 0 0 100059008 84225414 410112 277821 711685 581734 101180805 85084969 0 128500 0 0 1330836 1694035 0 0 0 91559557 85784835 92890393 87607370 8290412 -2522401 2199876174 1879340862 2007927549 1689914638 191948625 189426224 X SEE SCHEDULE O true false 80681311 84225414 AQUISITION OF STUDENT LOANS MADE TO STUDENTS AND PARENTS PURSUANT TO TITLE IV OF THE HIGHER EDUCATION ACT OF 1965, AS AMENDED. THE AMOUNT OF LOANS ACQUIRED DURING TAX YEAR 2015 WAS $25,269. 780993 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. 128598 Volunteer State Student Assistance Services provided $128,500 in grants to students based on financial need in post secondary education at 4 year public colleges and private colleges throughout the state of Tennessee. 81590902 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 false 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 false false X KEN MANN 8658243054 12700 KINGSTON PIKE KNOXVILLE TN 37934 RON GAMBILL CEO/PRESIDENT 60.0 0.0 X X 722919 0 20522 JOHN MAYS DIRECTOR 1.0 0.0 X 21000 0 MIKE RAGSDALE DIRECTOR 1.0 0.0 X 21000 0 RICHARD SMELSER DIRECTOR 1.0 0.0 X 20000 0 JEFF GERKIN DIRECTOR 1.0 0.0 X 20000 0 KEN MANN CFO 50.0 0.0 X 135480 0 9958 940399 0 30480 2 false true false KUDERINC 302 VISIONS PARKWAY ADEL IA 50003 STUDENT OUTREACH 150000 AES 1200 NORTH SEVENTH STREET HARRISBURG PA 17102 LOAN SERVICING 4874814 EDUCATIONAL SERVICES OF AMERICA IN 12700 KINGSTON PIKE KNOXVILLE TN 37934 ADMINISTRATION 5542889 BDO SEIDMAN LLP 5430 WADE PARK BLVDSUITE 208 RALEIGH NC 27607 AUDIT SERVICES 244276 WELLS FARGO BANK 625 MARQUETTE AVE 16TH FLOOR MINNEAPOLIS MN 55402 TRUSTEE SERVICES 163816 8 0 BORROWER INTEREST 525990 84225414 84225414 84225414 277821 277821 0 0 0 0 0 0 0 0 0 MISCELLANEOUS 525990 581734 581734 581734 85084969 84225414 859555 0 128500 128500 0 0 1477235 1181788 295447 0 0 52399 41919 10480 97817 78254 19563 66584 53267 13317 8484063 5090438 3393625 1463 1170 293 228588 228588 0 0 140279 112223 28056 0 31435 25148 6287 23034 18427 4607 44694 35755 8939 0 229770 183816 45954 65254 52203 13051 0 12531 10025 2506 24491455 24491455 0 1022731 818185 204546 0 LARS 27965325 27965325 CONSOLIDATION REBATE FEES 14338171 14338171 MISCELLANEOUS 8706042 6964833 1741209 87607370 81590902 6016468 0 0 0 117893928 67481472 0 0 43914321 37760563 0 0 0 0 2009938311 1739012265 0 0 2170208 2018167 468223 126522 191194 341701 15462620 23367930 0 0 0 0 0 0 10305592 9358764 2199876174 1879340862 12397902 10623744 0 0 0 0 0 0 0 0 0 0 1980046647 1679290894 0 0 15483000 0 2007927549 1689914638 X 191948625 189426224 0 0 0 0 191948625 189426224 2199876174 1879340862 -2522401 X false true X true true true X 0 0 0 0 0 0 177267681 146524791 114904092 100059008 84225414 622980986 0 0 0 177267681 146524791 114904092 100059008 84225414 622980986 0 0 0 622980986 22769066 18538442 285093 401779 277821 42272201 0 22769066 18538442 285093 401779 277821 42272201 0 4261884 1489706 286027 711685 581734 7331036 204298631 166552939 115475212 101172472 85084969 672584223 0.92625 0.88900 0.06285 0.10176 X 211680 10901 200779 17973 14410 3563 238570 101211 137359 341701 0 0 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, 2015 AND 2014 AND DETERMINED THERE WERE NO UNCERTAIN TAX POSITIONS THAT WOULD HAVE A MATERIAL IMPACT ON THE COMPANY'S CONSOLIDATED FINANCIAL STATEMENTS. PART XI, LINE 4B - OTHER ADJUSTMENTS: REVENUE/EXPENSE RECLASSIFICATIONS = 27,965,325. PART XII, LINE 4B - OTHER ADJUSTMENTS: EXPENSE/REVENUE RECLASSIFICATIONS = 27,965,326. X true true X X X X X false false false false false false false false false RON GAMBILL CEO/PRESIDENT 690000 0 0 0 32919 0 13000 0 7522 0 743441 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, DESCRIPTION OF MISSION STATEMENT: 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 Shcool. The company also awards scholarships to students in need for public and private schools in the state of Tennessee. FORM 990, PART III, LINE 2: STUDENT OUTREACH SERVICES AND SCHOLARSHIP AWARDS. 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 15388133 431192845 EFS INC EFS VOLUNTEER NO 2 LLC 501 CORPORATE CTR DR SUITE 320 FRANKLIN TN 37067 STUDENT LOANS DE 5748954 119454848 EFS INC EFS VOLUNTEER NO 3 LLC 501 CORPORATE CTR DR SUITE 320 FRANKLIN TN 37067 STUDENT LOANS DE 14691973 356277687 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