2015-07-24T15:16:16-05:00 2014-09-30 861065772 DELOITTE TAX LLP 111 MONUMENT CIRCLE SUITE 2000 INDIANAPOLIS IN 462045108 990 2013-10-01 946050341 UNITED STUDENT AID FUNDS INC UNIT 3178061231 9998 CROSSPOINT BLVD NO 400 INDIANAPOLIS IN 462563307 STEPHEN C HAM EVP & CFO 3178061231 2015-07-24 1 SHAWNA M JIMENEZ P01222873 3174648600 2013 2016-02-25 16:41:14Z WILLIAM HANSEN 9998 CROSSPOINT BLVD NO 400 INDIANAPOLIS IN 462563307 977488310 0 X WWW.USAFUNDS.ORG X 1960 DE TO ENHANCE POSTSECONDARY EDUCATION PREPAREDNESS, ACCESS AND SUCCESS. 12 10 186 0 0 0 147909 5221 496160542 547262952 24016623 46052701 0 0 520325074 593320874 10619050 24178386 0 0 23243599 29665932 0 0 0 360760817 375134025 394623466 428978343 125701608 164342531 1179323205 1288047474 332483301 256555323 846839904 1031492151 X USA FUNDS' MISSION IS TO ENHANCE POSTSECONDARY EDUCATION PREPAREDNESS, ACCESS AND SUCCESS BY PROVIDING AND SUPPORTING FINANCIAL AND OTHER VALUED SERVICES. 0 0 30007693 37008460 GUARANTEE SERVICES - USA FUNDS MAINTAINS A PORTFOLIO OF OVER $ 56.8 BILLION IN OUTSTANDING EDUCATIONAL LOAN GUARANTEES IN ACCORDANCE WITH THE HIGHER EDUCATION ACT OF 1965, AS AMENDED. 14863283 17783059 DEFAULT AVERSION - USA FUNDS WORKED WITH BORROWERS AND SUCCESSFULLY AVERTED DEFAULTS ON OVER $20.5 BILLION OF DELINQUENT EDUCATIONAL LOANS REPORTED BY LENDERS IN THE CURRENT YEAR. 316736637 452781046 COLLECTION ON DEFAULTED LOANS - USA FUNDS SUCCESSFULLY COLLECTED OVER $1.7 BILLION ON DEFAULTED EDUCATIONAL LOANS IN THE CURRENT YEAR. 33687481 24178386 39690387 INCLUDES OTHER GUARANTOR REVENUES, AS DEFINED BY THE US HIGHER EDUCATION ACT AND ADMINISTRATIVE FEES CHARGED TO RELATED TAX EXEMPT ORGANIZATIONS. 33687481 24178386 39690387 395295094 1 1 0 1 0 0 0 0 1 0 1 1 0 1 0 1 0 1 0 0 1 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 1 0 0 0 0 0 1 1 1 0 0 1 113 0 1 186 1 0 0 0 0 0 0 0 0 0 0 X 12 10 0 0 0 0 1 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 AZ CA IL IN OR X DEBORAH L MCCLOUD 3178061231 9998 CROSSPOINT BLVD SUITE 400 INDIANAPOLIS IN 462563307 IKE BATALIS BOARD MEMBER 8.00 0.00 X 83514 0 0 REV WILLIAM BEAUCHAMP BOARD MEMBER 7.00 1.00 X 43900 0 0 BLAKE DEVITT BOARD MEMBER 6.00 0.00 X 75500 0 0 MARSHALL GRIGSBY BOARD MEMBER 6.00 0.00 X 85806 0 0 NORMAN LEFSTEIN BOARD MEMBER 5.00 0.00 X 65306 0 0 ILENE NAGEL BOARD MEMBER 7.00 0.00 X 55648 0 0 WILLIAM NEALE BOARD MEMBER 6.00 0.00 X 75806 0 0 ERNEST NEWBORN II BOARD MEMBER 7.00 0.00 X 74898 0 0 EDWARD SCHMIDT BOARD MEMBER 6.00 0.00 X 93708 0 0 ERIK MORENO BOARD MEMBER 6.00 0.00 X 57750 0 0 MARLENE COULIS BOARD MEMBER 6.00 0.00 X 66148 0 0 WILLIAM HANSEN PRESIDENT & CEO 40.00 1.00 X X 434207 0 37536 STEPHEN C HAM EVP & CFO 41.00 3.00 X 578254 0 79527 DAVID B BOODT EVP & GENERAL COUNSEL 37.00 3.00 X 426402 0 71492 DENISE B FESER VP SCH & STUDENT SERV THRU 12/31/13 40.00 5.00 X 412023 0 50977 GREGORY AYERS SVP GOV'T SERV & ADMIN 40.00 1.00 X 286788 0 64552 ROBERT BALLARD SVP ACCESS & OUTREACH 40.00 0.00 X 337775 0 59310 TERRY MUILENBURG SVP GOV'T RELATIONS 40.00 0.00 X 487995 0 72277 CAROL D'AMICO EVP NAT ENG & MISS ADV 40.00 0.00 X 75292 0 7521 MARK PELESH EVP CORP & BUS DEV 40.00 0.00 X 103294 0 10105 LARRY LUTZ SVP STUDENT FIN PROG 40.00 0.00 X 31658 0 2343 DEBORAH MCCLOUD VP & CONTROLLER 40.00 0.00 X 181002 0 49778 LEONARD GURIN VP CASH & INVESTMENTS 40.00 0.00 X 176656 0 46477 JONI M ANDERSON VP & SR CORP COUNSEL 26.00 14.00 X 193035 0 45338 KAREN L DEVILLA SENIOR PROGRAM OFFICER 10.00 30.00 X 64833 121258 48778 HENRY L FERNANDEZ SENIOR PROGRAM OFFICER 40.00 0.00 X 201507 0 50206 DAVID C LONG VP OF SALES 40.00 0.00 X 204514 0 49696 CHERYL L PEARSON BUSINESS DEVELOPMENT 40.00 0.00 X 191281 0 17480 CARL C DALSTROM FORMER PRESIDENT & CEO 0.00 0.00 X 1741661 0 61727 6906161 121258 825120 54 1 1 0 NAVIENT 11100 USA PARKWAY FISHERS IN 46038 GUARANTOR SERVICES 337604644 STUDENT ASSISTANCE CORPORATION 11100 USA PARKWAY FISHERS IN 46038 DEFAULT AVERSION ACTIVITIES 3644111 LANDMARK MEDIA ENTERPRISES LLC 150 WEST BRAMBLETON AVENUE NORFOLK VA 235102075 DATA HOSTING 542363 CARMEL SOLUTIONS LLC 987 KEYSTONE WAY CARMEL IN 46032 MISC. PROFESSIONAL FEES 420000 ERNST & YOUNG 111 MONUMENT CIR 2600 INDIANAPOLIS IN 46204 ACCOUNTING AND AUDIT SERVICES 391721 26 5221 5221 COLLECTIONS ON DEFAULT 522200 452781046 452781046 GUARANTEE SERVICES 522200 37008460 37008460 DEFAULT AVERSION FEES 522200 17783059 17783059 39690387 39690387 547262952 17729082 17729082 400829518 11661537 384167436 0 16662082 11661537 28323619 28323619 593320874 547262952 0 46052701 23928386 23928386 250000 250000 4492408 4492408 19364847 4833102 14531745 556560 123590 432970 4049930 893724 3156206 1202187 364902 837285 758870 260227 498643 394902 394902 160131 160131 699845 699845 4375896 1591884 2784012 468456 49995 418461 111937 35606 76331 2132960 862430 1270530 1075005 1075005 1135590 285616 849974 751935 165449 586486 4836 4836 462416 462416 355968 355968 COLLECTION EXPENSE 316736637 316736637 0 0 ACCT. MAINT. & ISSUANCE 30007693 30007693 0 0 DEFAULT AVERSION FEES 14863283 14863283 0 0 DUES & ASSOCIATION FEES 462930 26048 436882 0 174735 16522 158213 428978343 395295094 33683249 0 55946927 31158138 53052631 47349328 35195646 23568794 3354386 2433197 1379348 921189 502004563 485381213 318930457 471022131 212813633 228646681 1179323205 1288047474 96518256 57178942 2210121 14326760 41037351 27881459 192717573 157168162 0 332483301 256555323 X 846839904 1031492151 0 0 846839904 1031492151 1179323205 1288047474 X 164342531 6804478 13505238 X 0 1 X 1 1 1 X 147909 5221 153130 395343051 392137408 419207130 496160542 547262952 2250111083 395343051 392137408 419207130 496308451 547268173 2250264213 125000 125000 0 125000 125000 2250139213 10018941 14372724 15931613 17783084 17729082 75835444 10018941 14372724 15931613 17783084 17729082 75835444 405361992 406510132 435138743 514091535 564997255 2326099657 0.96730 0.96800 0.03260 0.03190 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 1 0 0 0 0 1 116803 0 1 50000 166803 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 230230 126269 103961 2143286 1491175 652111 980870 815753 165117 921189 FIXED INCOME: U.S. AGENCY OBLIGATIONS 3431347 F FIXED INCOME: CORPORATE BONDS 140352813 F FIXED INCOME: ASSET-BACKED SECURITIES 51837406 F FIXED INCOME: MUNICIPAL BONDS 48420727 F OPTIONS: HEDGE FUNDS - EQUITY 30097274 F OPTIONS: HEDGE FUNDS - FIXED INCOME 21220812 F OPTIONS: PRIVATE EQUITIES 11378375 F OPTIONS: LIMITED LIABILITY PARTNERSHIPS - EQUITY 20000000 F OPTIONS: LIMITED LIABILITY PARTNERSHIPS - FIXED INCOME 22547070 F OPTIONS: LIMITED LIABILITY CORPORATIONS - EQUITY 83419576 F OPTIONS: LIMITED LIABILITY CORPORATIONS - FIXED INCOME 36010306 F OPTIONS: POOLED SEPARATE ACCOUNT 2306425 F 471022131 RECEIVABLE FROM FED FUND 71002651 ASSETS HELD ON BEHALF OF FED RESERVE 157168162 DUE FROM AFFILIATES 423929 DEFAULTED LOANS PURCHASED 51939 228646681 X PART IV, LINE 2B: LIABILITIES INCURRED ON BEHALF OF THE FEDERAL RESERVE FUND. PART X, LINE 2: PER THE CONSOLIDATED FINANCIAL STATEMENTS OF UNITED STUDENT AID FUNDS, INC., 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, 2014 AND 2013. CENTRAL AMERICA & THE CARIBBEAN INVESTMENTS 44145307 EUROPE (INCLUDING ICELAND & GREENLAND) INVESTMENTS 2702206 NORTH AMERICA INVESTMENTS 4371062 EAST ASIA AND THE PACIFIC INVESTMENTS 1014995 0 0 0 0 0 0 52233570 0 52233570 1 0 1 1 1 0 1 ACCESS COLLEGE FOUNDATION 7300 NEWPORT AVENUE SUITE 500 NORFOLK VA 23505 541440734 501(C)(3) 50000 OPERATING GRANT ALAMO COMMUNITY COLLEGE DISTRICT FOUNDATION 201 W SHERIDAN BLDG C RM 3 SAN ANTONIO TX 78204 742422589 501(C)(3) 100000 OPERATING GRANT ALASKA COMMISSION ON POSTSECONDARY EDUCATION 3030 VINTAGE BLVD JUNEAU AK 99801 926001185 STATE OF AK 16320 OPERATING GRANT AMERICAN INDIAN COLLEGE FUND 8333 GREENWOOD BLVD DENVER CO 80221 521573446 501(C)(3) 200000 OPERATING GRANT AMERICAN RED CROSS OF GREATER INDIANAPOLIS 441 E 10TH STREET INDIANAPOLIS IN 46202 530196605 501(C)(3) 25000 OPERATING GRANT ARIZONA COLLEGE SCHOLARSHIP FOUNDATION 4040 E CAMELBACK ROAD SUITE 220 PHOENIX AZ 85018 202366755 501(C)(3) 50000 OPERATING GRANT ARIZONA COMMISSION FOR 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OREGON STUDENT ACCESS COMMISSION 1500 VALLEY RIVER DRIVE SUITE 100 EUGENE OR 97401 936015581 STATE OF OR 15000 OPERATING GRANT PACIFIC FINANCIAL AID ASSOCIATION 1314 S KING STREET SUITE 1164 HONOLULU HI 96814 200429061 501(C)(3) 14000 OPERATING GRANT PARTNERSHIP FOR LEARNING 321 NORTH PINE STREET LANSING MI 48933 382955237 501(C)(3) 15000 OPERATING GRANT PROJECT LEAD THE WAY 3939 PRIORITY WAY S DRIVE STE 200 INDIANAPOLIS IN 46240 141816385 501(C)(3) 15000 DIRECTED GIFT READING IS FUNDAMENTAL INC PO BOX 33728 WASHINGTON DC 20033 520976257 501(C)(3) 85000 OPERATING GRANT RECTOR & VISITORS OF THE UNIVERSITY OF VIRGINIA 400 RAY C HUNT DRIVE CHARLOTTESVILLE VA 22904 546002796 501(C)(3) 15000 DIRECTED GIFT RILEY CHILDREN'S FOUNDATION 30 S MERIDIAN STREET SUITE 200 INDIANAPOLIS IN 462043540 350868147 501(C)(3) 72000 OPERATING GRANT ROBOTICS EDUCATION AND COMPETITION FOUNDATION 200 E WASHINGTON ST INDIANAPOLIS IN 46204 352212630 501(C)(3) 45000 OPERATING GRANT RUST COLLEGE 150 RUST AVENUE HOLLY SPRINGS MS 38635 640303805 501(C)(3) 30500 OPERATING GRANT SAN DIEGO CITY COLLEGE 1313 PARK BLVD SAN DIEGO CA 92101 237261624 501(C)(3) 90361 OPERATING GRANT SANIBEL CAPTIVA CONSERVATION FOUNDATION PO BOX 839 SANIBEL FL 33957 591205087 501(C)(3) 17500 EMPLOYEE MATCHING SCHOLARSHIP AMERICA 1550 AMERICAN BLVD SUITE 155 MINNEAPOLIS MN 55425 042296967 501(C)(3) 27500 DIRECTED GIFT/EMPLOYEE MATCHING/OPERATING GRANT SOUTH CAROLINA COMMISSION ON HIGHER EDUCATION 1122 LADY STREET SUITE 300 COLUMBIA SC 29201 570674590 STATE OF SC 18000 OPERATING GRANT SOUTHSIDE EARLY CHILDHOOD CENTER 2930 IOWA AVENUE ST LOUIS MO 63118 430685348 501(C)(3) 8000 EMPLOYEE MATCHING ST MARIA GORETTI PARISH 17102 SPRINGMILL ROAD WESTFIELD IN 46074 351950891 501(C)(3) 33336 EMPLOYEE MATCHING STVINCENT HOSPITAL FOUNDATION 8402 HARCOURT ROAD SUITE 210 INDIANAPOLIS IN 46260 356088862 501(C)(3) 83500 EMPLOYEE MATCHING/OPERATING GRANT STANFORD UNIVERSITY 326 GALVEZ STREET STANFORD CA 943056105 941156365 501(C)(3) 10500 EMPLOYEE MATCHING STARFISH INITIATIVE 814 N DELAWARE STREET INDIANAPOLIS IN 46204 562442758 501(C)(3) 7500 OPERATING GRANT STATE HIGHER EDUCATION EXECUTIVE OFFICERS 3035 CENTER GREEN DR SUITE 100 BOULDER CO 803012205 237167258 501(C)(3) 35621 OPERATING GRANT STUDENT ASSISTANCE FOUNDATION OF MONTANA 2500 BROADWAY PO BOX 203101 HELENA MT 596203101 810527529 501(C)(3) 15000 OPERATING GRANT SUSQUEHANNA UNIVERSITY 514 UNIVERSITY AVENUE SELINSGROVE PA 17870 231353385 501(C)(3) 26000 DIRECTED GIFT/EMPLOYEE MATCHING TENNESSEE HIGHER EDUCATION COMMISSION SUITE 1900 PARKWAY TOWERS 404 JAMES ROBERTSON PARKWAY NASHVILLE TN 372430820 626001445 STATE OF TN 10000 OPERATING GRANT THANKS USA 1390 CHAIN BRIDGE RD 260 MCLEAN VA 22101 203973151 501(C)(3) 50000 OPERATING GRANT THE INTERNATIONAL CENTER INC ONE INDIANA SQUARE SUITE 2000 INDIANAPOLIS IN 46204 351300785 501(C)(3) 10000 OPERATING GRANT THURGOOD MARSHALL COLLEGE FUND 901 F STREET NW SUITE 300 NEW YORK NY 20004 411750692 501(C)(3) 200000 OPERATING GRANT TRINITY WASHINGTON UNIVERSITY 125 MICHIGAN AVE NE WASHINGTON DC 20017 530196640 501(C)(3) 10000 DIRECTED GIFT TRUCKEE MEADOWS COMMUNITY COLLEGE 7000 DANDINI BLVD RDMT 200 RENO NV 89512 886000024 501(C)(3) 100000 OPERATING GRANT TULANE UNIVERSITY 6823 ST CHARLES 218 GIBSON HALL NEW ORLEANS LA 70118 720423889 501(C)(3) 25000 DIRECTED GIFT US DREAM ACADEMY INC 5950 SYMPHONY WOODS ROAD STE 504 COLUMBIA MD 21044 593514841 501(C)(3) 100000 OPERATING GRANT UNITED NEGRO COLLEGE FUND 3737 N MERIDIAN ST SUITE 203 INDIANAPOLIS IN 46208 131624241 501(C)(3) 224550 EMPLOYEE MATCHING/OPERATING GRANT UNITED WAY OF CENTRAL INDIANA INC 3901 N MERIDIAN ST INDIANAPOLIS IN 462080409 351007590 501(C)(3) 110312 EMPLOYEE MATCHING/OPERATING GRANT UNIVERSITY OF HAWAII MAUI COLLEGE 310 W KAAHUMANU AVENUE KAHULUI HI 96732 996000354 STATE OF HI 51754 OPERATING GRANT UNIVERSITY OF MICHIGAN 200 FLETCHER ST ANN ARBOR MI 481091007 386006309 STATE OF MI 40000 DIRECTED GIFT UNIVERSITY OF NEW MEXICO FOUNDATION INCORPORATED 700 LOMAS BLVD NE TWO WOODWARD CTR ALBUQUERQUE NM 87102 850275408 501(C)(3) 13000 OPERATING GRANT UNIVERSITY OF NOTRE DAME DU LAC 1100 GRACE HALL NOTRE DAME IN 465565612 350868188 501(C)(3) 15000 EMPLOYEE MATCHING UNIVERSITY OF PENNSYLVANIA 3451 WALNUT ST 601 FRANKLIN BLDG PHILADELPHIA PA 191046205 231352685 501(C)(3) 22500 DIRECTED GIFT/EMPLOYEE MATCHING UNIVERSITY OF PORTLAND 5000 N WILLAMETTE BLVD PORTLAND OR 97203 930401259 501(C)(3) 55000 DIRECTED GIFT/EMPLOYEE MATCHING UNIVERSITY OF VIRGINIA COLLEGE FOUNDATION PO BOX 400807 CHARLOTTESVILLE VA 229044807 542009312 501(C)(3) 9000 DIRECTED GIFT UNIVERSITY OF WASHINGTON FOUNDATION MINORITY AFFAIRS DIVERSITY 320 F MARY GATES HALL SEATTLE WA 981952835 943079432 501(C)(3) 50000 OPERATING GRANT UNIVERSITY OF WISCONSIN FOUNDATION 1848 UNIVERSITY AVENUE MADISON WI 53726 390743975 501(C)(3) 22500 DIRECTED GIFT/EMPLOYEE MATCHING US CHAMBER OF COMMERCE FOUNDATION 1615 H STREET NW WASHINGTON DC 20062 461561597 501(C)(3) 2000000 OPERATING GRANT VANGUARD CHARITABLE ENDOWMENT PROGRAM 95 WELLS AVE STE 155 NEWTON MA 024593204 232888152 501(C)(3) 10000 EMPLOYEE MATCHING VERMONT STUDENT ASSISTANCE CORP 10 EAST ALLEN STREET PO BOX 2000 WINOOSKI VT 05404 300216589 501(C)(3) 15000 OPERATING GRANT WASHINGTON STUDENT ACHIEVEMENT COUNCIL 917 LAKERIDGE WAY SW OLYMPIA WA 985043430 455122913 STATE OF WA 22494 OPERATING GRANT WESLEYAN COLLEGE 4760 FORSYTH ROAD MACON GA 31210 580593438 501(C)(3) 60083 OPERATING GRANT WEST VIRGINIA HIGHER EDUCATION POLICY COMMISSION 1018 KANAWHA BOULEVARD EAST SUITE 700 CHARLESTON WV 25301 550517092 STATE OF WV 18000 OPERATING GRANT WESTERN GOVERNORS UNIVERSITY 4001 SOUTH 700 EAST SALT LAKE CITY UT 84107 841383926 501(C)(3) 2000000 OPERATING GRANT WESTERN GOVERNORS UNIVERSITY - INDIANA 10 W MARKET ST 1020 INDIANAPOLIS IN 46204 841383926 501(C)(3) 15000 DIRECTED GIFT WISCONSIN ASSOCIATION OF STUDENT FINANCIAL AID ADMINISTRATORS INC 133 RIVER DRIVE WAUSAU WI 54403 396279228 501(C)(3) 15000 OPERATING GRANT YMCA OF METROPOLITAN WASHINGTON 1112 16TH STREET NW SUITE 720 WASHINGTON DC 20036 530207403 501(C)(3) 7500 OPERATING GRANT 144 3 FASFA COMPLETION HELP 10000 250000 PART I, LINE 2: USA FUNDS' GRANT-MAKING IS LIMITED TO THE 50 U.S. STATES AND THE DISTRICT OF COLUMBIA. USA FUNDS 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 ORIGINAL GRANT REQUEST. IN ADDITION, PROGRAM OFFICERS PERFORM SITE VISITS OR ATTEND EVENTS THAT USA FUNDS HAS SPONSORED. X X X X 1 1 X X X X X X 1 1 0 0 0 0 0 1 0 WILLIAM HANSEN PRESIDENT & CEO 220054 0 159346 0 54807 0 22910 0 14626 0 471743 0 0 0 STEPHEN C HAM EVP & CFO 250892 0 126777 0 200585 0 57439 0 22088 0 657781 0 0 0 DAVID B BOODT EVP & GENERAL COUNSEL 233892 0 84183 0 108327 0 44739 0 26753 0 497894 0 0 0 DENISE B FESER VP SCH & STUDENT SERV THRU 12/31/13 226431 0 71311 0 114281 0 41841 0 9136 0 463000 0 0 0 GREGORY AYERS SVP GOV'T SERV & ADMIN 200492 0 70498 0 15798 0 40299 0 24253 0 351340 0 0 0 ROBERT BALLARD SVP ACCESS & OUTREACH 217292 0 76696 0 43787 0 37722 0 21588 0 397085 0 0 0 TERRY MUILENBURG SVP GOV'T RELATIONS 237992 0 84700 0 165303 0 46024 0 26253 0 560272 0 0 0 DEBORAH MCCLOUD VP & CONTROLLER 145800 0 32976 0 2226 0 27690 0 22088 0 230780 0 0 0 LEONARD GURIN VP CASH & INVESTMENTS 142630 0 30717 0 3309 0 21474 0 25003 0 223133 0 0 0 JONI M ANDERSON VP & SR CORP COUNSEL 146026 0 31667 0 15342 0 24919 0 20419 0 238373 0 0 0 KAREN L DEVILLA SENIOR PROGRAM OFFICER 53811 100643 10087 18866 935 1749 8544 15981 8450 15803 81827 153042 0 0 HENRY L FERNANDEZ SENIOR PROGRAM OFFICER 162883 0 34220 0 4404 0 26623 0 23583 0 251713 0 0 0 DAVID C LONG VP OF SALES 169388 0 34573 0 553 0 25443 0 24253 0 254210 0 0 0 CHERYL L PEARSON BUSINESS DEVELOPMENT 98947 0 20175 0 72159 0 7621 0 9859 0 208761 0 0 0 CARL C DALSTROM FORMER PRESIDENT & CEO 233023 0 144260 0 1364378 0 50300 0 11427 0 1803388 0 1345057 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. TAX INDEMNIFICATION AND GROSS-UP PAYMENTS - GROSS-UP PAYMENTS WERE MADE TO THE FORMER CEO FOR RETIREMENT GIFTS ABOVE THE IRS LIMITS, FOR DE MINIMUS GIFTS. ADDITIONAL GROSS-UP PAYMENTS WERE MADE FOR HOUSE HUNTING, TEMPORARY HOUSING, AND MOVING EXPENSES FOR 2 OF THE OFFICERS LISTED IN PART VII. USA FUNDS INCLUDED THE ABOVE APPLICABLE EXPENSES IN THE EMPLOYEES' W-2 AS ADDITIONAL TAXABLE COMPENSATION. HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE - COMPANY POLICY IS TO PROVIDE TEMPORARY HOUSING TO OFFICERS PRIOR TO RELOCATION PLUS REIMBURSE OFFICERS FOR MOVING EXPENSES ASSOCIATED WITH RELOCATION. USA FUNDS PROVIDED THIS BENEFIT TO 2 OFFICERS LISTED IN PART VII AND INCLUDED THE NON-BUSINESS EXPENSES IN THE EMPLOYEES' W-2 AS ADDITIONAL TAXABLE COMPENSATION. HEALTH OR SOCIAL CLUB DUES - USA FUNDS 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 FIVE HIGHEST PAID EMPLOYEE RECEIVED SEVERANCE PAYMENTS FROM THE ORGANIZATION DURING THE CALENDAR YEAR 2013: CHERYL L. PEARSON $65,250 PART I, LINE 4B: THE CURRENT AND FORMER CEO PARTICIPATE IN A SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN UNDER CODE SECTION 457(F). ANY AMOUNTS ULTIMATELY PAID UNDER THE PLAN TO THE CURRENT OR FORMER CEO ARE REPORTED AS COMPENSATION ON FORM 990, SCHEDULE J, PART II, COLUMN B IN THE YEAR PAID. THE ONLY DISTRIBUTION RECEIVED IN CALENDAR YEAR 2013 IS: CARL DALSTROM $1,345,057 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. GRIGSBY & ASSOCIATES BOARD MEMBER 25503 SEE PART V 0 SCHEDULE L, PART IV, COLUMN B, LINE 1: MARSHALL GRIGSBY, A BOARD MEMBER OF UNITED STUDENT AID FUNDS, INC., IS PRESIDENT AND CHIEF EXECUTIVE OFFICER OF GRIGSBY & ASSOCIATES, LLC, A CONSULTING FIRM THAT SPECIALIZES IN EDUCATION POLICY ISSUES AND THE LEGISLATIVE PROCESS. SCHEDULE L, PART IV, COLUMN D, LINE 1: MARSHALL GRIGSBY, IN HIS CAPACITY AS PRESIDENT AND CHIEF EXECUTIVE OFFICER OF GRISGSBY & ASSOCIATES, LLC RENDERED CONSULTING TO THE CORPORATION DURING THE YEAR. FORM 990, PART VI, SECTION A, LINE 6 AS A DELAWARE NON-PROFIT ORGANIZATION, THIS CORPORATION HAS INDIVIDUALS AS ITS MEMBERS THAT SERVE AS ITS BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 11 ONCE THE FORM 990 IS PREPARED BY THE COMPANY, WITH ASSISTANCE FROM THE EXTERNAL TAX ACCOUNTING FIRM, THE FORM AND ALL APPLICABLE SCHEDULES ARE PROVIDED TO THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES FOR REVIEW. AFTER THE AUDIT COMMITTEE HAS COMPLETED THEIR REVIEW, THE FORM AND ALL APPLICABLE SCHEDULES ARE PROVIDED TO THE FULL BOARD IN ADVANCE OF THE FORM BEING FILED WITH THE IRS, ALLOWING TIME FOR REVIEW AND COMMENT BY THE FULL BOARD. 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 INTEREST DISCLOSURE STATEMENT THAT DISCLOSES ACTUAL OR POTENTIAL CONFLICTS OF INTEREST AS SET FORTH IN THE APPROVED CONFLICTS OF INTEREST POLICY FOR TRUSTEES. THE DISCLOSURE STATEMENTS ARE REVIEWED BY THE GOVERNANCE COMMITTE 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 GOVERNANCE COMMITTEE AND THE CORPORATE 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 USA FUNDS' CEO AND THE OTHER OFFICERS ARE MADE BY A COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES 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 PUBLIC INSPECTION AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: NET ACTUARIAL GAIN RELATED TO EMPLOYEE BENEFIT PLANS 3,505,238. FUND BALANCE TRANSFER FROM NORTHWEST EDUCATION LOAN ASSOCIATION 10,000,000. NORTHWEST EDUCATION LOAN ASSOCIATION PO BOX 6028 INDIANAPOLIS IN 462066028 911068278 STUDENT LOAN GUARANTOR WA 501(C)(3) 9 USA FUNDS 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 NORTHWEST EDUCATION LOAN ASSOCIATION L 110760 FMV NORTHWEST EDUCATION LOAN ASSOCIATION Q 780755 COST REIMBURSEMENT