2014-11-12T15:36:30-06:00 2013-12-31 BDO USA LLP 5430 WADE PARK BLVD SUITE 208 RALEIGH NC 27607 990 2013-01-01 621586836 Educational Services of America Inc % BILL THOMPSON EDUC 8658243051 12700 Kingston Pike Suite Farragut TN 37934 Bill Thompson CFO 8658243051 2014-11-10 true Peter Devisser P00842257 8658243051 X 2013 2015-11-30 17:44:51Z X Edsouth Services JOHN ARNOLD 12700 KINGSTON PIKE FARRAGUT TN 37934 118680448 false X www.edsouthservices.com X 1994 TN provides funding for educational loans and provides funding for student outreach programs for grades 6-14; grants for scholarships 6 3 44 0 0 0 93931032 99775987 47349446 7661873 4180326 11136587 145460804 118574447 460750 468472 0 0 2379973 3144989 0 0 0 76426922 86774416 79267645 90387877 66193159 28186570 1779960827 2222740281 1531907705 1946986032 248053122 275754249 PROVIDES FUNDING FOR EDUCATIONAL LOANS AND PROVIDES FUNDING FOR STUDENT OUTREACH PROGRAMS FOR GRADES 6-14; grants for scholarships. false false 69212394 99775987 ESA IS A FULLY OPERATING CHARITABLE ORGANIZATION THAT PROVIDES LIQUIDITY FOR POST SECONDARY STUDENT LOANS. IT ALSO CONDUCTS AND MAINTAINS CHARITABLE PROGRAMS THAT PROVIDE STUDENTS WITH THE OPPORTUNITY TO OBTAIN A POST-SECONDARY EDUCATION, SCHOLARSHIP SEARCHES, grants for scholarships, AND FINANCIAL LITERACY. 1112845 THE STUDENT OUTREACH PROGRAM PROVIDES MIDDLE SCHOOL AND HIGH SCHOOL STUDENTS AND THEIR FAMILIES RESOURCES AND TOOLS TO ASSIST WITH COLLEGE AND CAREER PLANNING. THE PROGRAM HELPS STUDENTS AND THEIR FAMILIES PLAN FOR THE COST OF HIGHER EDUCATION BY EXPLAINING VARIOUS OPTIONS AND SOURCES FOR FUNDING. STUDENTS IN MIDDLE SCHOOL THROUGH THEIR SOPHOMORE YEAR IN COLLEGE ARE ELIGIBLE IN TENNESSEE FOR TESTING TO DETERMINE POST SECONDARY EDUCATION PROGRAMS. 525193 468472 THE grant/scholarship PROGRAM PROVIDES SCHOLARSHIPS TO STUDENTS WHO DEMONSTRATE, THROUGH AN APPLICATION PROCESS, ACADEMIC ACHIEVEMENT, FINANCIAL NEED, AND INVOLVEMENT IN COMMUNITY SERVICES. DURING 2013, ESA funded grants that provided $468,472 IN SCHOLARSHIPS TO 99 STUDENTS. 70850432 true 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 true true false false false false false false false false false false false false true true true true false false true 0 0 44 true false false false false false false false false false false X 6 3 false false false false false false false true true false false true true true true true true true true false X BILL THOMPSON 8658243051 12700 KINGSTON PIKE Farragut TN 37934 X John Arnold President 60.0 X X 678841 37752 Leo Cooper Director 1.0 X 22500 Dwight Kessel Director 1.0 X 22500 Tommy Schumpert Director 15.0 X 91317 Bill Thompson CFO 50.0 25.0 X X 302986 130000 36512 Greg Sawyers Compliance 50.0 25.0 X 91317 4000 12975 Jeff Gibbs CIO 50.0 25.0 X 189564 16000 14531 Julie Huffines CAO 50.0 25.0 X 154453 5000 6614 Eric Stewart COO 50.0 X 149555 44252 1703033 155000 152636 5 false true false Edfinancial Services LLC 298 North Seven Oaks Dr KNOXVILLE TN 37922 Loan Servicing 3012814 fairway finance company LLC 115 s lasalle st 13Fl CHICAGO IL 60603 Loan Financing 2909068 georgia student finance authority 2082 east exchange pl TUCKER GA 30084 loan servicing 1383064 BDO USA LLP PO Box 642743 PITTSBURG PA 15264 Audit/Tax Prep 752088 American Education ServicesPHEAA PO Box 64849 BALTIMORE MD 21264 Loan Servicing 2533262 5 X 0 INTEREST & FEES ON STUDENT LOANS 522200 100043673 100043673 GAIN/LOSS ON SALE OF STUDENT LOANS 522200 -267686 -267686 99775987 7671070 7671070 0 0 1204584 87961 1116623 0 1116623 1116623 8843 18040 -9197 -9197 -9197 0 0 0 MISCELLANEOUS INCOME 900099 664459 664459 ADMINISTRATION FEES 900099 5417216 5417216 LOAN SERVICING FEES 900099 3938289 3938289 10019964 118574447 109122295 9452152 0 468472 468472 0 0 1855668 1447421 408247 0 855681 667431 188250 70099 54677 15422 215251 167896 47355 148290 115666 32624 573285 447162 126123 301065 234831 66234 729241 568808 160433 0 0 0 2765558 2157135 608423 17096 13335 3761 931526 726590 204936 0 0 160327 125055 35272 78626 61328 17298 0 8139 6348 1791 55599486 43367599 12231887 0 635464 495662 139802 100821 78640 22181 LOAN SERVICING & ADMIN FEES 17805738 13888476 3917262 OUTREACH COMMUNITY EDUCATION 1112845 1112845 0 TRUSTEE FEES 131150 102297 28853 LOAN LOSS RESERVE 2301218 1794950 506268 3522831 2747808 775023 90387877 70850432 19537445 0 511590 1297343 133193048 83039707 0 0 1530378407 2003128756 0 0 0 0 0 0 0 0 203502 458558 18212017 4812935 13953290 13399082 0 0 64398185 69287489 0 0 0 0 37322805 52129346 1779960827 2222740281 14550924 11944332 0 0 0 0 0 0 0 0 0 0 1517356781 1935041700 0 0 0 0 1531907705 1946986032 X 248053122 275754249 0 0 0 0 248053122 275754249 1779960827 2222740281 X 28186570 -485443 X false true X true true true X false false false 0 0 0 0 0 0 60269419 57519184 66530940 93931032 99775987 378026562 0 0 0 60269419 57519184 66530940 93931032 99775987 378026562 0 0 0 378026562 5557953 6410029 4256038 50038904 8875654 75138578 0 5557953 6410029 4256038 50038904 8875654 75138578 0 1076149 827461 827506 1589169 5417216 9737501 66903521 64756674 71614484 145559105 114068857 462902641 0.81664 0.81745 0.16232 0.17280 X 2402054 2402054 13032427 3049236 9983191 2143308 1412117 731191 76795 59631 17164 557434 291952 265482 13399082 0 0 X schedule d, part xiii asc 740(formerly FASB issued interpretation no. 48, accounting for uncertainty in income taxes - an interpretation of fasb statement no. 109) was adopted by the company as of january 1, 2009. this interpretation clarifies the accounting for uncertainty in income taxes recognized in an enterprise's financial statements in accordance primarily with asc 740. under asc 740, the impact of an uncertain income tax position on the income tax returns must be recognized at the largest amount that is more-likely-than-not to be required to be recognized upon audit by the relevant taxing authority. asc 740 also provides guidance on de-recognition, measurement, classification, interest and penalties, accounting for interim periods, disclosure and transition issues with respect to tax positions. the company did not have any significant uncertain tax positions as of december 31, 2013 and 2012. true Various Scholarships - Privacy Protected Info 99 468472 N/A N/A form 990, schedule i description of organization's procedures for monitoring the use of grants for ESA's Scholarship program which provides scholarships to students who demonstrate, through an application process, academic achievement, financial need, and involvement in community service. during 2013, ESA funded grants that provided $468,472 in scholarships to 99 students. X X true true X X X false false false false false false false false false John Arnold President 678841 16500 21252 716593 Bill Thompson CFO 302986 130000 15260 21252 339498 130000 Jeff Gibbs CIO 173564 16000 16000 1499 13032 204095 16000 Julie Huffines CAO 149453 5000 5000 6614 161067 5000 Eric Stewart COO 131555 18000 23000 21252 193807 part vi, section b, line 12c all employees 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 department 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 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 disciplinary and corrective action. if a conflict is found to exist or is otherwise disclosed, the relevant board member is precluded from voting and prohibited from influencing the vote on any matter to which the conflict relates. part vi, section b, line 13 esa employee conduct and work rules (code) require directors, officers, and employees to observe high standards of business and personal conduct in their duties and responsibilities. it is the responsibility of all directors, officers, and employees to comply with the code and to report violations or suspected violations in accordance with the whistleblower policy. no director, officer, or employee who in good faith reports a violation of the code shall suffer harrassment, retaliation, or adverse employment consequence. the code addresses reporting violations and handling of reported violation. part vi, section b, line 15a & 15b 15(a) - the board of directors uses outside independent consultants in determining the compensation for the executive officer. a compensation committee comprised of independent members of the board of directors uses the compensation information from outside consultants in determining compensation. The full board then receives a report from the compensation committee and approves or amends compensation based on this report. executive management also evaluates performance of other officers and key employees in connection with market factors to adjust compensation which is determined based on a comparison of the regional salary levels and following an evaluation by the ceo during the previous year. part vi, section c, line 19 esa provides copies of its governing documents, conflict of interest policy, and financial statements upon request at our office location. part vi, section b, line 11 The form 990 is reviewed by the cfo and ceo of esa prior to being filed with the irs and a final copy of the 990 is provided to each board member prior to it being filed. part xi, line 9 Distribution made to subsidiary that is not included in this tax return. Edsouth Indenture #1 LLC 12700 Kingston Pike Farragut TN 37934 999999999 Student loans TN 9378268 123419725 NA North Oaks LLC 12700 Kingston Pike Farragut TN 37934 999999999 student loans TN 11723924 701140071 na Edsouth Indenture #2 LLC 12700 Kingston Pike Farragut TN 37934 999999999 Student Loans TN 21936358 281747977 na Edsouth Indenture #3 LLC 12700 Kingston Pike Farragut TN 37934 999999999 Student Loans TN 24797086 395751769 na Edsouth Indenture #4 LLC 12700 Kingston Pike Farragut TN 37934 999999999 Student Loans TN 17447292 539852150 na Edbancorp Inc 12700 Kingston Pike Farragut TN 37934 262930965 Commercial Bank TN NA C Corp 3767073 70398199 1.00000 true The Community Bank of the Cumberlands I PO box 696 jamestown TN 38556 621834541 Commercial Bank TN Edbancorp Inc C Corp 1.00000 true Community Investments of the Cumberlands 744 south willow avenue cookeville TN 38501 205618849 Banking Investmen TN Edbancorp Inc C Corp 1.00000 true SouthEast Bank 12700 Kingston Pike Farragut TN 37934 621859961 Banking Investmen TN Edbancorp Inc C Corp 28385783 528695723 1.00000 true Southeast Bancshares Inc Statutory Tru 12700 Kingston Pike Farragut TN 37934 376417777 Banking Investmen TN Edbancorp Inc C Corp 1.00000 true false true false false false false true true false false false true false true true false true false false Edbancorp Inc b 485445 actual SouthEast Bank g 6098 actual SouthEast Bank h 13266872 face value SouthEast Bank l, o 630090 estimation SouthEast Bank n 1068750 estimation SouthEast Bank q 304366 actual