2012-03-19T12:29:11-07:00 2011-09-30 990 2010-10-01 680396383 EdFund EDFU 9164648135 California Student Aid Commission PO Box 419026 Rancho Cordova CA 957419026 Dontae Rayford 9164646439 2012-03-19 2010 2016-02-24 21:20:13Z Enrique Murillo PO Box 419026 Rancho Cordova CA 957419026 15965029 0 X X Auxiliary 1997 CA EdFund, an auxiliary organization of the California Student Aid Commission (Commission), administers student related services as directed by the Commission. This year's services included wind-down efforts associated with transferring the Commission's guaranty agency designation in the Federal Family Education Loan (FFEL) Program to another agency. X 13 13 534 0 0 0 41480 4910 78159110 10905444 22794 -569250 434584 5623925 78657968 15965029 49000 0 0 0 43929670 6091153 0 0 0 35166702 30130526 79145372 36221679 -487404 -20256650 133830025 1633493 112381616 441734 21448409 1191759 X As an auxiliary organization of the Commission, EdFund administers student related services directed by the Commission. These services included the FFEL Program guaranty agency functions of default prevention and aversion efforts, and default management and collection activities, until the Commission's guaranty agency designation was transferred to another agency effective November 1, 2010. 0 1 7756486 0 9331075 Default Management: Despite various efforts counseling borrowers to stay current on their student loans, a number of loans enter default after 270 days of deliquency. After a claim is paid, Edfund works with the defaulted borrower to help establish a voluntary loan repayment ageement based on their financial situation. Borrowers that particpate in the loan rehabilitation program receive the benefit of an improved credit history and restored eligibiliy for financial aid. The amounts reflected for this program cover the two month period that EdFund was still providing FFEL Program administrative services for the Commission. 1275807 0 1534799 Default Prevention: EdFund engages in default prevention and aversion programs dedicated to educating and assisting borrowers in sucessful repayment of their student loan debt through a cooperative effort with schools and lenders. Default prevention couselors work directly with borrowers to increase awareness in a variety of repayment options, as well as the potential consequences of defaulting on a student loan. The amounts reflect the two months that EdFund was providing these FFEL Program services for the Commission. 32893 0 39570 Borrower Counseling Services: EdFund entered into a contract with a post-secondary educational institution to provide delinquency prevention counseling services to its students. This fee for service contract was terminated November 2010. 0 0 0 9065186 1 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 1 48562 0 1 534 1 0 0 0 0 0 0 0 0 0 0 0 0 X 13 13 0 0 0 0 0 0 1 1 1 0 0 1 1 1 1 1 1 1 1 0 CA X X California Student Aid Commission 9164648040 10834 International Drive Rancho Cordova CA 95670 Sally Furay 8 X X 2071 0 0 Carlene Moore Ellis 8 X X 0 0 0 Frederick M Weis 8 X X 1551 0 0 C Michael Cooney 8 X X 2097 0 0 Conny Jamison 5 X 1862 0 0 Dale Rogers Marshall 5 X 1300 0 0 Diana Fuentes-Michel 0 X 0 0 0 Sam M Kipp III 40 X X 431217 0 40540 Enrique Murillo Jr 2 X X 0 0 0 Israel Rodriguez 1 X X 0 0 0 Lynne de Bie 1 X X 0 0 0 Nancy Anton 1 X X 0 0 0 Brian Conley 1 X 0 0 0 Alexander Gonzalez 1 X 0 0 0 Lorena Hernandez 1 X 0 0 0 Lawrence Hershman 1 X 0 0 0 Barry Keene 1 X 0 0 0 Patricia Fong Kushida 1 X 0 0 0 Bonaparte Liu 1 X 0 0 0 Antonio Solorzano Jr 1 X 0 0 0 Fred Wood 1 X 0 0 0 Martin A Scanlon 40 X 272426 0 44512 Therese B Bickler 40 X 271659 0 44413 David E Reid 40 X 266115 0 47866 Len B Hyde 40 X 224490 0 36674 John R Hancock 40 X 187311 0 32921 Diane E Manning 40 X 178966 0 32927 Leslie D Naake 40 X 164142 0 34344 Teresa R Freedman 40 X 160945 0 30080 James V Simi 40 X 154823 0 30926 Rebecca M Thompson 40 X 151446 0 14887 Gordon E Purdy 40 X 148853 0 24389 2621274 0 414479 68 0 1 0 GC Services LP 6330 Gulfton St Houston TX 77081 Collection Agency 981091 Randstad 8430 West Brynmawr Chicago IL 60631 Temporary Staffing 891412 Premiere Credit of North America LLC 2002 Wellesley Blvd Indianapolis IN 46219 Collection Agency 692142 Sungard Availability Services LP 680 E Swedesford Road Wayne PA 19087 Data Storage and Recovery 274580 Perry-Smith LLP 400 Capitol Mall Ste 1200 Sacramento CA 95814 Accounting Firm 240510 7 0 0 0 0 0 4910 0 4910 Default Management 900099 9331075 9331075 0 0 Default Prevention 900099 1534799 1534799 0 0 Borrower Counseling Services 900099 39570 39570 0 0 0 0 0 0 10905444 1671 0 0 1671 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -570921 0 0 0 -570921 -570921 -570921 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Grant administration fees 900099 61660 61660 0 0 Gain on plan termination 900099 5562265 5562265 0 0 0 0 0 0 5623925 15965029 15958448 0 1671 0 0 0 0 0 0 0 0 1838773 500798 1337975 0 0 0 0 0 2264117 1901858 362259 0 142916 108611 34305 0 1660223 1396883 263340 0 185124 139867 45257 0 0 0 0 0 179649 0 179649 0 93653 93653 0 0 0 0 0 0 0 0 0 0 0 16229 0 16229 0 25665 20352 5313 0 674270 578174 96096 0 1361827 1131924 229903 0 0 0 0 0 917638 542261 375377 0 16939 3063 13876 0 0 0 0 0 50 0 50 0 0 0 0 0 0 0 0 0 1599508 1143125 456383 0 400479 0 400479 Collection agency fees 1451308 1451308 0 0 Consulting and professional fees 219964 131204 88760 0 Other operating expenses 18985 15758 3227 0 Guaranty agency transfer expense 23154362 0 23154362 0 0 0 0 0 36221679 9065186 27156493 0 0 0 122075546 10001 0 0 7415024 443354 1042084 48695 14509690 13378247 3297371 1131443 133830025 1633493 86418404 441734 25963212 112381616 441734 X 0 0 3297371 60316 18151038 1131443 21448409 1191759 133830025 1633493 -20256650 0 X 0 1 1 X 1 1 X X X 0 0 0 California Student Aid Commission 680317676 Line 6 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 14509690 0 13378247 1131443 0 0 0 0 1131443 15965029 36221679 -20256650 0 0 0 0 0 0 -20256650 15965029 0 0 0 0 0 15965029 0 0 0 15965029 36221679 0 0 0 0 0 36221679 0 0 0 36221679 X 1 0 0 0 0 0 0 0 0 Sam M Kipp III 318000 0 0 0 113217 0 0 0 40540 0 471757 0 0 0 Martin A Scanlon 210670 0 0 0 61756 0 0 0 44512 0 316938 0 0 0 Therese B Bickler 176622 0 0 0 95037 0 0 0 44413 0 316072 0 0 0 David E Reid 201734 0 0 0 64381 0 0 0 47866 0 313981 0 0 0 Len B Hyde 152507 0 0 0 71983 0 0 0 36674 0 261164 0 0 0 John R Hancock 159257 0 0 0 28054 0 0 0 32921 0 220232 0 0 0 Diane E Manning 147437 0 0 0 31529 0 0 0 32927 0 211893 0 0 0 Leslie D Naake 105141 0 0 0 59001 0 0 0 34344 0 198486 0 0 0 Teresa R Freedman 81548 0 0 0 79397 0 0 0 30080 0 191025 0 0 0 James V Simi 119172 0 0 0 35651 0 0 0 30926 0 185749 0 0 0 Gordon E Purdy 76728 0 0 0 72125 0 0 0 24389 0 173242 0 0 0 Rebecca M Thompson 84858 0 0 0 66588 0 0 0 14887 0 166333 0 0 0 SchJ_P01_S00_L04 Schedule J, Part I, Line 4 Four individual received a separation payment. 1-Rebecca M Thompson $33,923; 2-Teresa R Freedman $33,029; 3-Gordon E Purdy $30,428; 4-James V Simi $20,000. As directed by U.S. Dept of Education, EdFund discontinued administering the FFEL Program on behalf of the Commission. As a result, FFEL Program related receivables and payables were cleared. 2010-11-02 -10766412 Book value 680317676 California Student Aid Commission PO Box 419026 Rancho Cordova CA 957419026 State Governmental Agency As directed by U.S. Dept of Education, EdFund discontinued administering the FFEL Program on behalf of the Commission. As a result, excess cash was returned to the Commission. 2010-11-02 28216702 Cash 680317676 California Student Aid Commission PO Box 419026 Rancho Cordova CA 957419026 State Governmental Agency 0 0 0 0 F990_P03_S00_L03 Form 990, Part III, Line 3 Effective November 1, 2010, U.S. Dept of Education terminated the California Student Aid Commission's (Commission) designation as a FFEL Program guaranty agency. This action eliminated EdFund's primary role of administering FFEL Program functions on behalf of the Commission. F990_P06_S0A_L07b Form 990, Part VI, Section A, Line 7b EdFund is an auxiliary organization of the Commission pursuant to Section 69522(a) of the California Education Code. Additionally, EdFund is a component unit of the Commission and operates under the terms and conditions set forth in a biennial operating agreement. F990_P06_S0B_L11a Form 990, Part VI, Section B, Line 11a and b - A copy of the Form 990 was issued to each EdFund Board Member for review prior to submission at the Board meeting held February 24, 2012. F990_P06_S0B_L12c Form 990, Part VI, Section B, Line 12c Annually, EdFund's Executive Management Team and other key personnel were required to disclose all conflict of interest(s) to the state of California. F990_P06_S0B_L15 Form 990, Part VI, Section B, Line 15 The process for determining compensation of EdFund's Executive Management Team (EMT) was performed by the Human Resources Department. Compensation for each EMT position was based on numerous factors including, but not limited to, market information utilizing internal and external equity measures, geographic location, positions with similiar roles and responsibilities, comparable company size, not-for-profit structure and similiar lines of business. Based on these factors each position was assigned a pay grade. Finally, based on each EMT member's level of experience and expertise, each position was assigned a compensation figure within the applicable pay grade range. F990_P06_S0C_L19 Form 990, Part VI, Section C, Line 19 EdFund's governing documents, conflict of interest policy, and audited financial statements are available for public inspection upon request. Additionally, the Form 990 is published and available on the Guidestar website and on the State of California, Department of Justice, on-line charity research tool. California Student Aid Commission PO Box 419026 Rancho Cordova CA 957419026 680317676 Grant administrator & Guaranty agency CA 6 N/A 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 California Student Aid Commission k 83435631 Cash flow. California Student Aid Commission p 10910354 Program service fees-reimbursement of operational expenses. California Student Aid Commission q 23154362 Transfer expense includes $20 million advance liquidation.