2014-07-23T08:40:35-05:00 2013-12-31 201776739 JPMS COX PLLC 11300 CANTRELL ROAD SUITE 301 LITTLE ROCK AR 72212 990 2013-01-01 273339369 REMINGTON COLLEGE REMI 4075625500 500 INTERNATIONAL PARKWAY NO 200 HEATHROW FL 32746 JAKE FROEMSDORF CFO 4075625500 2014-07-08 1 MARY ELLEN VANGILDER P00626271 5012275800 2013 2015-11-30 17:44:51Z JACK FORREST 500 INTERNATIONAL PARKWAY NO 200 HEATHROW FL 32746 126584158 0 X WWW.REMINGTONCOLLEGE.EDU X 2008 AR POST-SECONDARY EDUCATION 5 0 1789 4 0 0 0 180870 142892984 126392165 -35874 -7009 169096 0 143026206 126566026 2146695 5170422 0 0 65911935 58767332 0 0 0 71782675 70571320 139841305 134509074 3184901 -7943048 188144924 78187630 196027907 163467514 -7882983 -85279884 THE MISSION OF REMINGTON COLLEGE IS TO CONTRIBUTE TO THE PUBLIC GOOD BY PROVIDING RELEVANT, CAREER-FOCUSED EDUCATION DESIGNED AND INTENDED TO HELP STUDENTS ACQUIRE THE KNOWLEDGE AND DEVELOP THE SKILLS AND ABILITIES NECESSARY FOR SUCCESSFUL ENTRY (CONTINUED ON SCHEDULE O) 0 0 126275336 5170421 126392165 REMINGTON COLLEGE CONTRIBUTED TO THE PUBLIC GOOD BY PROVIDING RELEVANT, CAREER-FOCUSED EDUCATION THAT HELPED STUDENTS ACQUIRE THE KNOWLEDGE AND DEVELOP THE SKILLS AND ABILITIES NECESSARY TO OBTAIN POSITIONS IN THEIR CHOSEN CAREER FIELDS. REMINGTON COLLEGE PROVIDED A CARING LEARNING ENVIRONMENT IN WHICH A TECHNICALLY RICH, INTELLECTUALLY STIMULATING, QUALITY EDUCATION WAS DELIVERED BY A DEDICATED FACULTY AND STAFF. 126275336 1 1 0 1 0 0 0 0 0 0 1 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 1 1 1 1 0 0 0 0 0 1 0 0 0 1 233 0 1 1789 1 0 0 0 0 0 0 0 0 0 0 X 5 0 1 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 OH X X X JAKE FROEMSDORF 4075625771 500 INTERNATIONAL PARKWAY STE 200 HEATHROW FL 32746 JACK W FORREST PRESIDENT AND CEO 40.00 X X 368324 0 15521 WARREN STEPHENS DIRECTOR 1.00 X 0 0 0 KEVIN WILCOX DIRECTOR 1.00 X 0 0 0 MARSHALL MCKISSACK DIRECTOR 1.00 X 0 0 0 JERALD M BARNETT JR DIRECTOR 15.00 X 0 0 0 A REID ALLISON CHIEF OPERATING OFFICER 40.00 X 295478 0 11644 ROBERT LUTZ SENIOR VP & ASST. SECRETAR 40.00 X 281141 0 8261 CHARLES R CAMP SECRETARY & GENERAL COUNSE 40.00 X 283073 0 10807 DR P MICHAEL LANOUETTE CHIEF ACADEMIC OFFICER 40.00 X 282978 0 9211 JONATHAN BAKER VP-BUSINESS OPERATIONS 40.00 X 156937 0 8059 JEREMY HERTZ VP-HUMAN RESOURCES 40.00 X 143904 0 8250 TODD ZVAIGZNE REGIONAL VP OF OPERATIONS 40.00 X 222413 0 11288 DR HIRAM NALL REGIONAL VP OF OPERATIONS 40.00 X 227805 0 8213 JAKE FROEMSDORF CHIEF FINANCIAL OFFICER 40.00 X 161503 0 8519 JAMES DUNN NAT'L DIRECTOR OF STUDENT 40.00 X 116592 0 3902 MARY RHODES DIRECTOR OF ACCREDITATION 40.00 X 87015 0 5903 DAVID C NETZLEY II VP/DEPUTY GENERAL COUNSEL 40.00 X 138388 0 3927 GARY AZOTEA CAMPUS PRESIDENT - CLEVELA 40.00 X 148882 0 8519 MICHAEL SMITH CAMPUS PRESIDENT - BATON R 40.00 X 151814 0 7084 JOANN BOUDREAUX CAMPUS PRESIDENT - LAFAYET 40.00 X 116542 0 7022 JERRY DRISKILL CAMPUS PRESIDENT - SHREVEP 40.00 X 151382 0 10019 LOUIS LAMAIR CAMPUS PRESIDENT - HONOLUL 40.00 X 143630 0 1431 GREENIE W SKIP WALLS CAMPUS PRESIDENT - DALLAS 40.00 X 206671 0 5416 SHIRLEY MCCRAY CAMPUS PRESIDENT - COLORAD 40.00 X 113101 0 1580 LASHUNDIA BROOKS CAMPUS PRESIDENT - COLUMBI 40.00 X 113811 0 6116 LORI BANKEY CAMPUS PRESIDENT - HOUSTON 40.00 X 88427 0 7421 DR ROSALIE LAMPONE CAMPUS PRESIDENT - LITTLE 40.00 X 130122 0 4512 DR LORI MORAN CAMPUS PRESIDENT - MEMPHIS 40.00 X 191442 0 5243 JAMES SAULSBURY CAMPUS PRESIDENT - NASHVIL 40.00 X 61223 0 1129 STEPHEN BACKMAN CAMPUS PRESIDENT - MOBILE 40.00 X 157470 0 2082 GREGORY FALCON CAMPUS PRESIDENT - FORT WO 40.00 X 171433 0 7667 KENNETH HEINEMANN CAMPUS PRESIDENT - TAMPA 40.00 X 179976 0 8344 DR KARIN POLIFKO VICE PRESIDENT/CAMPUS PRESIDENT/DEAN OF NURSING 40.00 X 243269 0 2885 ROBERT MAUK CAMPUS PRESIDENT - HOUSTON 40.00 X 83709 0 8519 BRADLEY MOORE VICE PRESIDENT OF HEALTH S 40.00 X 164615 0 2935 EMMYLU GERRY CONTROLLER 40.00 X 78565 0 5607 J BONNELL VP-INFORMATION TECHNOLOGY 40.00 X 191086 0 6156 LARRY COLLINS CAMPUS PRESIDENT - NASHVILLE CAMPUS 40.00 X 80596 0 1991 PATRICK RESETAR CAMPUS PRESIDENT - CLEVELAND EAST CAMPUS 40.00 X 37878 0 1730 LAUREN LAWSON CAMPUS PRESIDENT - ORLANDO NURSING 40.00 X 96346 0 1000 LINDA PHILLIPS-MORROW ELITE ADMISSIONS REP - FOR 40.00 X 141334 0 8050 KURT HUBBARD NAT'L DEAN OF OCCUPATIONAL THERAPY STUDIES 40.00 X 118127 0 2371 EDMUND FLORES DIRECTOR OF ADMISSIONS - N 40.00 X 130332 0 2935 BILLY FERRELL DIRECTOR OF EDUCATION - DALLAS 40.00 X 116827 0 3519 MARC WRIGHT DIRECTOR OF ADMISSIONS - DALLAS/FORT WORTH 40.00 X 129938 0 7056 6504099 0 251844 41 0 1 0 1103 LLC 1111 BISHOP ST STE 505 HONOLULU HI 96813 MAINTENANCE 647192 GREENS CROSSING II OWNER LP PO BOX 116789 ATLANTA GA 30368 MAINTENANCE 322521 BEADLE'S CLEANING SERVICES 1229 E OAKLAWN ST TERRELL TX 75160 MAINTENANCE 281506 BKD LLP PO BOX 3667 LITTLE ROCK AR 72203 ACCOUNTING 189147 BP WESTCHASE LLC PO BOX 160223 CHARLOTTE NC 26260 MAINTENANCE 186836 10 180870 180870 TUITION AND FEES 611310 125795290 125795290 COSMETOLOGY SERVICES 611310 520480 520480 76395 76395 126392165 512 512 10611 18132 -7521 -7521 -7521 126566026 126392165 0 -7009 7441 7441 5162981 5162981 5867544 4154356 1713188 45753740 43957923 1795817 -11644 -11644 2692439 2267477 424962 4465253 4249629 215624 71241 36307 34934 119417 119417 3117005 2221691 895314 17464315 17464315 2203442 1190650 1012792 833192 833192 77308 77308 17874423 16235699 1638724 648734 526343 122391 111757 96496 15261 459700 459700 13723891 13620561 103330 958292 819929 138363 TEXTBOOKS & SUPPLIES 8383000 8383000 STUDENT ACTIVITIES 1983004 1983004 EMPLOYEE & PERSONNEL EX 660984 616970 44014 OUTSIDE FINANCIAL AID 561588 561588 1320027 1241003 79024 134509074 126275336 8233738 0 117660 111702 13502059 12880557 38503378 3230372 20458 42650 26621 1707067 1511979 21276417 12392009 9550145 8884408 123802964 50740042 919001 781491 188144924 78187630 14646193 9482930 40957397 6957269 1631945 1079064 138792372 145948251 196027907 163467514 X 0 0 0 0 -7882983 -85279884 -7882983 -85279884 188144924 78187630 X -7943048 -69453853 X X 0 0 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 1 119417 0 0 119417 0 PART II-B, LINE 1: THE COMPANY EMPLOYS A LOBBYIST IN TENNESSEE, CHARLES PERKINS, TO LOBBY FOR LEGISLATION THAT THE COMPANY WOULD LIKE TO HAVE ENACTED THAT WOULD DIRECTLY AFFECT THE REGULATION OF THE EDUCATIONAL INSTITUTIONS THE COMPANY OPERATES IN TENNESSEE. THIS LOBBYIST ALSO LOBBIES AGAINST LEGISLATION THAT WOULD IMPOSE REGULATIONS THAT ARE DETRIMENTAL TO THE EDUCATIONAL INSTITUTIONS THE COMPANY OPERATES IN TENNESSEE. COMPANY OFFICERS ALSO ENGAGE IN LOBBYING EFFORTS TO SUPPORT OR OPPOSE LEGISLATION THAT WOULD BE BENEFICIAL OR DETRIMENTAL TO THE EDUCATIONAL INSTITUTIONS THAT THE COMPANY OPERATES IN THE STATE WHERE THESE ACTIVITIES OCCUR. THE TIME SPENT BY OFFICERS OF THE COMPANY IN LOBBYING ACTIVITIES IS LESS THAN 5% OF THE HOURS WORKED BY THE OFFICERS OF THE COMPANY THAT ENGAGE IN THESE ACTIVITIES. THE TRAVEL EXPENSES INCURRED BY THE OFFICERS THAT ENGAGE IN THESE LOBBYING ACTIVITIES ARE PAID BY THE COMPANY. NO LOBBYING EFFORTS ARE UNDERTAKEN WITH RESPECT TO ANY LEGISLATION OR POLICIES THAT ARE NOT RELATED TO THE BUSINESS OF THE EDUCATIONAL INSTITUTION OPERATED BY THE COMPANY. THE COMPANY EMPLOYS THE ALSTON HUNT FLOYD LAW FIRM TO PERFORM LOBBYING ACTIVITIES ON BEHALF OF THE COMPANY IN HAWAII. ALSTON HUNT FLOYD WAS HIRED TO LOBBY FOR LEGISLATION THAT THE COMPANY WOULD LIKE TO HAVE ENACTED THAT WOULD DIRECTLY AFFECT THE REGULATION OF THE EDUCATIONAL INSTITUTIONS THE COMPANY OPERATES IN HAWAII. THIS LOBBYIST ALSO LOBBIES AGAINST LEGISLATION THAT WOULD IMPOSE REGULATIONS THAT ARE DETRIMENTAL TO THE EDUCATIONAL INSTITUTIONS THE COMPANY OPERATES IN HAWAII. THE PRIMARY LOBBYING EFFORTS PERFORMED IN THE PAST YEAR WERE RELATED TO LEGISLATION BEING ENACTED TO CREATE A NEW REGULATORY AGENCY THAT WOULD REGULATE THE EDUCATIONAL INSTITUTIONS THE COMPANY OPERATES IN HAWAII AND THE CONTENT OF THE REGULATIONS. THE COMPANY EMPLOYS THE LOCKE LORD LAW FIRM TO PERFORM LOBBYING ACTIVITIES ON BEHALF OF THE COMPANY IN TEXAS. LOCKE LORD WAS HIRED TO LOBBY FOR LEGISLATION THAT THE COMPANY WOULD LIKE TO HAVE ENACTED THAT WOULD DIRECTLY AFFECT THE REGULATION OF THE EDUCATIONAL INSTITUTIONS THE COMPANY OPERATES IN TEXAS. THIS LOBBYIST ALSO LOBBIES AGAINST LEGISLATION THAT WOULD IMPOSE REGULATIONS THAT ARE DETRIMENTAL TO THE EDUCATIONAL INSTITUTIONS THE COMPANY OPERATES IN TEXAS. THE PRIMARY LOBBYING EFFORTS PERFORMED IN THE PAST YEAR WERE RELATED TO THE ENACTMENT OF A STATUE THAT WOULD EXEMPT THE EDUCATIONAL INSTITUTIONS THE COMPANY OPERATES IN TEXAS FROM REGULATION BY THE TEXAS WORKFORCE COMMISSION IN COMPLIANCE WITH THE STATE AUTHORIZATION REGULATIONS OF THE UNITED STATES DEPARTMENT OF EDUCATION. 286600 286600 1146520 51531 1094989 1915926 207429 1708497 17538140 11849479 5688661 389231 283570 105661 8884408 NOTES PAYABLE - EAI 136329110 LONG TERM LINE OF CREDIT 9619141 145948251 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 THE POLICY IS PUBLISHED ON THE COMPANY'S WEB PAGE AND IN THE CATALOG GIVEN TO EACH INDIVIDUAL THAT ENROLLS TO ATTEND ANY CAMPUS OPERATED BY THE COMPANY, ANY INDIVIDUAL THAT IS A PROSPECTIVE STUDENT THAT INTERVIEWS WITH AN ADMISSION REPRESENTATIVE AT A CAMPUS AND TO PROSPECTIVE DISTANCE EDUCATION STUDENTS. CURRENTLY, THE POLICY IS ALSO DISCLOSED IN THE COMPANY'S ADVERTISING MATERIALS. 1 SCHOLARSHIP 6049 5162981 VALUE OF CREDIT HOURS PART I, LINE 2: GRANTS TO INDIVIDUALS. THE SCHOLARSHIPS ARE AWARDED TO STUDENTS THAT ATTEND ONE OF THE COMPANY'S COLLEGES. THE FINANCIAL AID DEPARTMENT REVIEWS THE APPLICATIONS FOR THE SCHOLARSHIPS SUBMITTED BY STUDENTS OR PROSPECTIVE STUDENTS, COMPARES THE APPLICATIONS WITH THE WRITTEN ELIGIBILITY CRITERIA AND DETERMINES IF THE APPLICANT IS ELIGIBLE AND THEN APPROVES OR REJECTS AN APPLICATION. A WRITTEN RECORD OF THE APPROVALS AND THE AMOUNTS OF THE SCHOLARSHIPS IS MAINTAINED. THE ACCOUNTING AND FINANCIAL AID DEPARTMENTS ARE THEN NOTIFIED OF THE AMOUNT OF ANY SCHOLARSHIP AWARDED AND A PRO RATA PORTION OF THE SCHOLARSHIP IS CREDITED TO THE STUDENT'S ACCOUNT ON A MONTHLY BASIS. IF A STUDENT WITHDRAWS FROM THE COLLEGE, THE UNUSED PORTION OF THE SCHOLARSHIP IS CANCELLED. SCHEDULE I, PART 1, LINE 2: X 0 1 X X X 1 0 0 0 0 0 0 0 1 1 JACK W FORREST PRESIDENT AND CEO 368324 0 0 0 0 0 0 0 15521 0 383845 0 0 0 A REID ALLISON CHIEF OPERATING OFFICER 295478 0 0 0 0 0 3125 0 8519 0 307122 0 0 0 ROBERT LUTZ SENIOR VP & ASST. SECRETAR 281141 0 0 0 0 0 0 0 8261 0 289402 0 0 0 CHARLES R CAMP SECRETARY & GENERAL COUNSE 283073 0 0 0 0 0 0 0 10807 0 293880 0 0 0 DR P MICHAEL LANOUETTE CHIEF ACADEMIC OFFICER 282978 0 0 0 0 0 692 0 8519 0 292189 0 0 0 JONATHAN BAKER VP-BUSINESS OPERATIONS 156937 0 0 0 0 0 0 0 8059 0 164996 0 0 0 JEREMY HERTZ VP-HUMAN RESOURCES 143904 0 0 0 0 0 0 0 8250 0 152154 0 0 0 TODD ZVAIGZNE REGIONAL VP OF OPERATIONS 222413 0 0 0 0 0 2769 0 8519 0 233701 0 0 0 DR HIRAM NALL REGIONAL VP OF OPERATIONS 227805 0 0 0 0 0 2769 0 5444 0 236018 0 0 0 JAKE FROEMSDORF CHIEF FINANCIAL OFFICER 161503 0 0 0 0 0 0 0 8519 0 170022 0 0 0 GARY AZOTEA CAMPUS PRESIDENT - CLEVELA 148882 0 0 0 0 0 0 0 8519 0 157401 0 0 0 MICHAEL SMITH CAMPUS PRESIDENT - BATON R 151814 0 0 0 0 0 928 0 6156 0 158898 0 0 0 JERRY DRISKILL CAMPUS PRESIDENT - SHREVEP 151382 0 0 0 0 0 1500 0 8519 0 161401 0 0 0 GREENIE W SKIP WALLS CAMPUS PRESIDENT - DALLAS 206671 0 0 0 0 0 2481 0 2935 0 212087 0 0 0 DR LORI MORAN CAMPUS PRESIDENT - MEMPHIS 191442 0 0 0 0 0 2308 0 2935 0 196685 0 0 0 STEPHEN BACKMAN CAMPUS PRESIDENT - MOBILE 157470 0 0 0 0 0 1904 0 178 0 159552 0 0 0 GREGORY FALCON CAMPUS PRESIDENT - FORT WO 171433 0 0 0 0 0 2135 0 5532 0 179100 0 0 0 KENNETH HEINEMANN CAMPUS PRESIDENT - TAMPA 179976 0 0 0 0 0 2192 0 6152 0 188320 0 0 0 DR KARIN POLIFKO VICE PRESIDENT/CAMPUS PRESIDENT/DEAN 243269 0 0 0 0 0 2885 0 0 0 246154 0 0 0 BRADLEY MOORE VICE PRESIDENT OF HEALTH S 164615 0 0 0 0 0 0 0 2935 0 167550 0 0 0 J BONNELL VP-INFORMATION TECHNOLOGY 191086 0 0 0 0 0 0 0 6156 0 197242 0 0 0 PART I, LINE 1B HOUSING ALLOWANCES ARE MADE BASED ON VERBAL AGREEMENTS. THE ORGANIZATION DOES NOT HAVE A WRITTEN POLICY REGARDING HOUSING ALLOWANCES. PART I, LINE 3 EMPLOYMENT CONTRACTS WERE ASSUMED AS PART OF THE PURCHASE AGREEMENT WITH EDUCATION AMERICA, INC. PART I, LINE 8 THE ASSET PURCHASE AGREEMENT BETWEEN THE COMPANY AND EDUCATION AMERICA, INC. SPECIFIED AS A BUYER CONDITION TO THE CLOSING OF THE TRANSACTION THAT CERTAIN INDIVIDUALS WOULD HAVE TO EXECUTE EMPLOYMENT AGREEMENTS. THE TERMS OF THE EMPLOYMENT AGREEMENTS WERE NEGOTIATED BY THE CEO OF THE COMPANY AT THAT TIME WHO HAS NEVER BEEN AN EMPLOYEE OF THE COMPANY AND CURRENTLY SERVES AS AN INDEPENDENT MEMBER OF THE COMPANY'S BOARD OF DIRECTORS WITHOUT COMPENSATION. NONE OF THE CURRENT OFFICERS OR KEY EMPLOYEES OF THE COMPANY WERE EMPLOYED BY THE COMPANY AT THE TIME THE EMPLOYMENT AGREEMENTS WERE NEGOTIATED OR EXECUTED. NONE OF THE MEMBERS OF THE BOARD OF DIRECTORS OF THE COMPANY AT THE TIME THE EMPLOYMENT AGREEMENTS WERE APPROVED RECEIVE ANY BENEFIT FROM THE EMPLOYMENT AGREEMENTS. JACK FORREST OFFICER 7002 CASH SCHOLARSHIP CHARLES R CAMP OFFICER 4564 CASH SCHOLARSHIP EAI REALTY INC OFFICERS IN COMMON 2525184 RENT 0 REMINGTON COLLEGE - BCL INC OFFICERS IN COMMON 378744 RENT 0 JB INTERESTS LLC OWNED BY JERALD BARNETT, JR. (DIRECTOR) 490668 RENT 0 BARNETT DIVERSIFIED VENTURES OWNED BY JERALD BARNETT, JR. (DIRECTOR) 250000 CONSULTING FEES 0 JERALD M BARNETT GRANTOR AND TRUST BENEFICIARY IS THE FATHER OF DIRECTOR JERALD BARNETT, JR. 145180 RENT 0 REMINGTON ADMINISTRATIVE SERVICES INC OFFICERS IN COMMON 1126680 RENT 0 SCHEDULE L, PART III: THE AMOUNTS DISCLOSED IN PART III OF SCHEDULE L REPRESENT THE VALUE OF THE SCHOLARSHIPS AWARDED TO FAMILY MEMBERS OF THE LISTED OFFICERS OF THE COMPANY THAT ATTENDED A COLLEGE OPERATED BY THE COMPANY. THE SCHOLARSHIPS WERE AWARDED PURSUANT TO THE COMPANY'S EMPLOYEE SCHOLARSHIP PROGRAM. THE DEPENDENT CHILDREN AND SPOUSES OF ELIGIBLE COMPANY EMPLOYEES MAY APPLY FOR SUCH SCHOLARSHIPS. THE SCHOLARSHIPS ARE AWARDED TO THE CHILD OR SPOUSE OF THE ELIGIBLE EMPLOYEE UPON APPROVAL OF THE SCHOLARSHIP APPLICATION. SCHEDULE L, PART IV: ALL OF THE TRANSACTIONS LISTED IN PART IV OF SCHEDULE L ARE A RESULT OF EITHER CONTRACTS THAT WERE ASSUMED WHEN THE COMPANY PURCHASED ASSETS PURSUANT TO THE ASSET PURCHASE AGREEMENT BETWEEN EDUCATION AMERICA, INC. AND THE COMPANY OR NEW CONTRACTS ENTERED INTO AT THE CLOSING OF THE ASSET PURCHASE. THE REAL ESTATE LEASES WERE FOR THE PROPERTIES THE COLLEGES PURCHASED BY THE COMPANY WERE OCCUPYING ON THE CLOSING DATE AND NEW LEASES WERE ENTERED TO FIX THE RENTAL AMOUNTS AND LEASE TERM FOR A PERIOD ACCEPTABLE TO THE COMPANY. THE LEASES WERE DETERMINED TO BE AT FAIR MARKET VALUE BY A THIRD PARTY VALUATION FIRM EMPLOYED BY THE COMPANY. FORM 990, PART III, LINE 1, DESCRIPTION OF ORGANIZATION MISSION: INTO, OR ADVANCEMENT WITHIN, THEIR CHOSEN CAREER FIELDS. TO ACCOMPLISH ITS MISSION, REMINGTON COLLEGE IS COMMITTED TO PROVIDING A LEARNING ENVIRONMENT IN WHICH LEARNING BY TRADITIONAL AND NON-TRADITIONAL STUDENTS IS FOCUSED BOTH ON CAREER SPECIFIC KNOWLEDGE AND SKILLS AND THE VALUE OF BROAD GENERAL EDUCATION. REMINGTON COLLEGE BELIEVES THAT AN EDUCATIONAL EXPERIENCE WHICH INCLUDES BOTH CAREER FOCUSED STUDIES AND BROAD GENERAL KNOWLEDGE CAN PROVIDE GRADUATES WITH A BALANCED PERSPECTIVE WHICH CAN LEAD TO A MORE FULFILLING LIFE. TO ACHIEVE ITS MISSION, REMINGTON COLLEGE RECRUITS AND MAINTAINS A CARING FACULTY WHOSE ACADEMIC QUALIFICATIONS ARE ENHANCED BY YEARS OF PROFESSIONAL EXPERIENCE IN THE WORKPLACE. REMINGTON'S FACULTY IS SUPPORTED BY AN ADMINISTRATION COMMITTED TO HELPING STUDENTS ACHIEVE THEIR GOAL OF STARTING OR ENHANCING THEIR CAREER. FORM 990, PART IV, LINE 12A: THE ORGANIZATION DID NOT RECEIVE AUDITED FINANCIAL STATEMENTS FOR THE TAX YEAR ENDED DECEMBER 31, 2013 BUT DID RECEIVE AUDITED FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED JUNE 30, 2013. THE ORGANIZATION HAS AN AUDIT COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE FISCAL YEAR AUDIT AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THE FISCAL YEAR AUDITED FINANCIALS ARE ISSUED ON A SEPARATE BASIS. FORM 990, PART VI, SECTION A, LINE 1 THE BOARD OF DIRECTORS APPOINTED A 3 MEMBER EXECUTIVE COMMITTEE ON APRIL 1, 2011 AND GRANTED THE EXECUTIVE COMMITTEE THE POWER AND AUTHORITY TO EXERCISE THE POWERS OF THE FULL BOARD OF DIRECTORS OF THE COMPANY TO THE EXTENT AUTHORIZED BY ARK CODE ANN 4-33-825. THE BOARD OF DIRECTORS APPOINTED A TWO MEMBER AUDIT COMMITTEE COMPRISED OF INDEPENDENT DIRECTORS ON APRIL 1, 2011 AND GRANTED THE AUDIT COMMITTEE THE POWER AND AUTHORITY TO EXERCISE THE POWERS OF THE FULL BOARD OF DIRECTORS OF THE COMPANY TO THE EXTENT AUTHORIZED BY ARK CODE ANN 4-33-825 AS TO THE SELECTION OF INDEPENDENT AUDITORS FOR FINANCIAL AND FINANCIAL AID AUDITS, CONSULTATION WITH AUDITORS AND REVIEW AND APPROVAL OF MONTHLY FINANCIAL STATEMENTS. THE BOARD OF DIRECTORS APPOINTED A 3 MEMBER COMPENSATION COMMITTEE COMPRISED OF NON-EMPLOYEE DIRECTORS ON APRIL 1, 2011 AND GRANTED THE EXECUTIVE COMMITTEE THE POWER AND AUTHORITY TO EXERCISE THE POWERS OF THE FULL BOARD OF DIRECTORS OF THE COMPANY TO THE EXTENT AUTHORIZED BY ARK CODE ANN 4-33-825 WITH RESPECT TO THE FIXING OF COMPENSATION FOR EXECUTIVE OFFICERS AND OTHER EMPLOYEES OF THE COMPANY. FORM 990, PART VI, SECTION A, LINE 2 BOARD MEMBERS WARREN STEPHENS, KEVIN WILCOX AND MARSHALL MCKISSACK ARE ALL EMPLOYED BY STEPHENS, INC., A PRIVATELY-HELD, INDEPENDENT FINANCIAL SERVICES FIRM. THE FOLLOWING ARE EITHER OFFICERS OR DIRECTORS OF THE COMPANY AND ARE ALSO SHAREHOLDERS AND EITHER A DIRECTOR OR OFFICER OF EDUCATION AMERICA, INC.: JERALD M. BARNETT, JR., JACK FORREST, BOB LUTZ, MIKE LANOUETTE, CHARLES R. CAMP, REID ALLISON JERALD M. BARNETT, JR., JACK FORREST AND CHARLES R. CAMP ARE ALL MEMBERS OF VIRATOX, LLC. FORM 990, PART VI, SECTION A, LINE 6 THE SOLE MEMBER OF THE COLLEGE IS THE JACKSON T. STEPHENS CHARITABLE TRUST. FORM 990, PART VI, SECTION A, LINE 7A THE ARTICLES OF INCORPORATION OF THE COMPANY PROVIDE THAT THE COMPANY SHALL HAVE A MEMBER. THE COMPANY'S BYLAWS PROVIDE THE MEMBER OF THE COMPANY, CURRENTLY THE JACKSON T. STEPHENS CHARITABLE TRUST, HAS THE POWER TO APPOINT A MAJORITY OF THE MEMBERS OF THE BOARD. THIS POWER ENSURES THAT ALL ACTIONS TAKEN BY THE BOARD WILL BE APPROVED BY DISINTERESTED MEMBERS, I.E. MEMBERS WITH NO PRIOR AFFILIATION WITH THE PREDECESSOR ORGANIZATION, EDUCATION AMERICA, INC. THE COMPANY'S BYLAWS ALSO PROVIDE THAT EDUCATION AMERICA, INC. HAS THE RIGHT TO APPOINT TWO OF THE COMPANY'S DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7B THE ARKANSAS NONPROFIT CORPORATION ACT PROVIDES THAT THE MEMBER OF THE COMPANY MAY AMEND THE COMPANY'S ARTICLES OF INCORPORATION AND THAT THE APPROVAL OF THE MEMBER IS REQUIRED TO MAKE CERTAIN AMENDMENTS TO THE ARTICLES OF INCORPORATION. THE ARKANSAS NONPROFIT CORPORATION ACT PROVIDES THAT THE MEMBER OF THE COMPANY MUST APPROVE ANY MERGER OF THE COMPANY, ANY SALE OR OTHER DISPOSITION OF SUBSTANTIALLY ALL OF THE ASSETS OF THE COMPANY OR THE DISSOLUTION OF THE COMPANY. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS REVIEWED BY THE CONTROLLER, CHIEF FINANCIAL OFFICER, CHIEF OPERATING OFFICER, CHIEF EXECUTIVE OFFICER, SECRETARY/GENERAL COUNSEL AND IS MADE AVAILABLE TO THE DIRECTORS OF THE ORGANIZATION PRIOR TO BEING FILED. FORM 990, PART VI, SECTION B, LINE 12C THE COMPANY HAS A POLICY THAT REQUIRES IMMEDIATE DISCLOSURE OF ANY CONFLICT OF INTEREST OR POTENTIAL CONFLICT OF INTEREST BY DIRECTORS, OFFICERS, MANAGERS AT THE TIME THE CONFLICT ARISES. THE COMPANY ALSO REQUIRES A CONFLICTS OF INTEREST DISCLOSURE STATEMENT TO BE COMPLETED ANNUALLY. THE BOARD HAS HAD CONFLICTS OF INTEREST PRESENTED TO THEM FOR CONSIDERATION AND APPROVED THE TERMS UPON WHICH THE CONFLICT WOULD BE RESOLVED OR DISALLOWED. THE CEO OF THE COMPANY HAS REVIEWED CONFLICTS PRESENTED TO HIM WHERE THE RESOLUTION WAS WITHIN HIS AUTHORITY IN ACCORDANCE WITH THE CONFLICTS OF INTEREST POLICY AND APPROVED THE TERMS UPON WHICH THE CONFLICT WOULD BE RESOLVED OR DISALLOWED. ALL CONFLICTS OF INTEREST THAT MIGHT INVOLVE A PRIVATE BENEFIT WERE ALSO REVIEWED IN ACCORDANCE WITH THE PRIVATE INUREMENT POLICY. CONTRACTS FOR GOODS AND SERVICES PURCHASED BY THE COMPANY ARE REVIEWED BY THE LEGAL DEPARTMENT AND ANY THAT MIGHT INVOLVE A CONFLICT OF INTEREST ARE REPORTED TO THE CEO IN ACCORDANCE WITH THE CONFLICTS OF INTEREST POLICY. FORM 990, PART VI, SECTION B, LINE 15 AT THE TIME THE COMPANY PURCHASED THE EDUCATIONAL INSTITUTIONS THAT IT OPERATES, THE CURRENT EXECUTIVE OFFICERS AND OTHER KEY EMPLOYEES OF THE COMPANY HAD EMPLOYMENT AGREEMENTS WITH THE SELLER WHICH FIXED THEIR COMPENSATION. THE COMPANY ASSUMED THESE EMPLOYMENT AGREEMENTS AS A PART OF THE PURCHASE TRANSACTION. THE CONTRACTS WERE REVIEWED BY THE COMPANY'S THEN CHIEF EXECUTIVE OFFICER, WHO WAS AN INDEPENDENT DIRECTOR OF THE COMPANY, AND ITS LEGAL COUNSEL AT THE TIME THE ASSET PURCHASE AGREEMENT WAS BEING NEGOTIATED. THEY DETERMINED THE EMPLOYMENT AGREEMENTS TO BE AT FAIR MARKET VALUE BASED UPON THE EXPERIENCE LEVELS OF THESE INDIVIDUALS AND IMPORTANCE TO THE OPERATIONS OF THE COMPANY IN THE FUTURE. FORM 990, PART VI, SECTION C, LINE 19 ALL DOCUMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: BAD DEBT EXPENSE -8,722,608. ACCRUED INTEREST EXPENSE 2,982,740. BOOK/TAX DIFFERENCE IN AMORTIZATION EXPENSE 9,315,207. TAX PENALTY -68. BOOK IMPAIRMENT OF INTANGIBLE -73,029,124. FORM 990, PART XII, LINE 2B: THE ORGANIZATION RECEIVED AUDITED FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED JUNE 30, 2013. JACKSON T STEPHENS CHARITABLE TRUST 1701 CANTRELL RD LITTLE ROCK AR 72201 204545463 EDUCATIONAL SUPPORT AR 501(C)(3) PRIVATE FOUNDATION 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0