2012-11-15T11:03:03-06:00 2011-12-31 BDO USA LLP 1001 Morehead Square Drive Ste 300 Charlotte NC 28203 990 2011-01-01 621586836 Educational Services of America Inc % BILL THOMPSON EDUC 8653425120 104 N Seven Oaks Drive Knoxville TN 37922 Bill Thompson 2012-11-14 true 7048874236 2011 2016-02-24 21:20:13Z JOHN ARNOLD 104 N SEVEN OAKS DRIVE KNOXVILLE TN 37922 72052479 false X www.edsouthservices.org X 1994 TN provides funding for educational loans and provides funding for student outreach programs for grades 6-14. 5 2 28 0 0 0 57519184 66617687 5245860 2236665 3122699 2706638 65887743 71560990 1310874 831250 0 0 1532779 1958222 0 0 0 63089410 53670789 65933063 56460261 -45320 15100729 1253729318 1312260913 1055691139 1099341882 198038179 212919031 PROVIDES FUNDING FOR EDUCATIONAL LOANS AND PROVIDES FUNDING FOR STUDENT OUTREACH PROGRAMS FOR GRADES 6-14. false false 42700119 66617687 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, SCHOLARHIP SEARCHES, AND FINANCIAL LITERACY. 885271 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 AND ASSIST THEM IN ESTABLISHING THEIR HIGH SCHOOL GRADUATION PLAN. 831250 THE EDSCHOLAR PROGRAM PROVIDES SCHOLARSHIPS TO STUDENTS WHO DEMONSTRATE, THROUGH AN APPLICATION PROCESS, ACADEMIC ACHIEVEMENT, FINANCIAL NEED, AND INVOLVEMENT IN COMMUNITY SERVICES. DURING 2011, THE EDSCHOLAR PROGRAM AWARDED $831,250 IN SCHOLARSHIPS TO 277 STUDENTS. 44416640 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 28 true false false false false false false false false false false X 5 2 false false false false false false false true true false false true true true true false true true true false X X BILL THOMPSON 8653425119 104 N SEVEN OAKS DRIVE KNOXVILLE TN 37922 X John Arnold 60.0 X X 538749 0 21562 Leo Cooper 1.0 X 13500 0 0 Dwight Kessel 1.0 X 13500 0 0 Tommy Schumpert 15.0 X 88974 0 0 Bill Thompson 50.0 X X 242519 50000 21562 Connie Gibson 50.0 X 109349 0 21562 Greg Sawyers 40.0 X 81961 3750 6367 Jeff Gibbs 50.0 X 122518 12000 10623 Julie Huffines 50.0 X 55860 81925 5466 Eric Stewart 50.0 X 39113 0 1370 1306043 147675 88512 4 false true false BDO USA LLP 1001 Morehead Square Drive Suite 3 CHARLOTTE NC 28203 Accounting services 396507 Edfinancial Services LLC Loan Servicing 8194423 Bank of New York 10161 Centurion Parkway 3F1 JACKSONVILLE FL 32256 trustee 5414283 fairway finance company 115 s lasalle st 13Fl CHICAGO IL 60603 line of credit 2266356 georgia student finance authority 2082 east exchange place TUCKER GA 30084 loan servicing 605016 5 0 INTEREST & FEES ON STUDENT LOANS 522200 65155502 65155502 GAIN/LOSS ON SALE OF STUDENT LOANS 522200 384814 384814 RECOVERY OF BAD DEBT WRITE-OFFS 522200 1077371 1077371 66617687 2224270 2224270 0 0 1326799 152636 1174163 1174163 1174163 351248 338853 12395 12395 0 0 0 MISCELLANEOUS INCOME 900099 1532475 1532475 1532475 71560990 66617687 4930908 0 831250 831250 0 0 1394555 1087753 306802 0 303672 236864 66808 49551 38650 10901 136943 106816 30127 73501 57331 16170 147885 115350 32535 491946 383718 108228 513959 400888 113071 0 0 0 30458 23757 6701 22460 17519 4941 75369 58788 16581 0 0 160742 125379 35363 59681 46551 13130 0 6226 4856 1370 35064640 27350419 7714221 0 622343 485428 136915 99664 77738 21926 LOAN SERVICING & P&A FEES 9049117 7058311 1990806 OUTREACH COMMUNITY EDUCATION 885271 885271 0 FINANCIAL ADVISORY FEES 1034751 807106 227645 LOAN LOSS RESERVE 2440010 1903208 536802 2966267 2313689 652578 56460261 44416640 12043621 0 35707 100257 143206546 102457701 0 0 1049149011 1143859051 0 0 0 0 1532807 1653196 0 0 233328 244935 18287136 3844451 15170911 14442685 0 0 15053737 17538501 0 0 0 0 29347271 31964587 1253729318 1312260913 27888773 7069643 0 0 0 0 0 0 0 0 0 0 1027802366 1092272239 0 0 0 0 1055691139 1099341882 198038179 212919031 X 0 0 0 0 0 0 198038179 212919031 1253729318 1312260913 X 15100729 -219877 X false true true X true true X false false false 84311896 94345258 60269419 57519184 66530940 362976697 84311896 94345258 60269419 57519184 66530940 362976697 362976697 9477671 12501237 5557953 6410029 4256038 38202928 9477671 12501237 5557953 6410029 4256038 38202928 129408 120374 1076149 827461 827506 2980898 93918975 106966869 66903521 64756674 71614484 404160523 0.89810 0.87959 0.09452 0.11368 X 2402054 2402054 13053945 2400771 10653174 2177469 1105961 1071508 653668 337719 315949 14442685 0 0 schedule d, part xiv 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, 2011 and 2010. true Various Scholarships - Privacy Protected Info 277 831250 0 N/A N/A form 990, schedule i description of organization's procedures for monitoring the use of grants bY the edscholar program provides scholarships to students who demonstrate, through an application process, academic achievement, financial need, and involvement in community service. during 2011, the edscholar program awarded $831,250 in scholarships. X true true X X X X X false false false false false false false false false John Arnold 524091 0 0 0 14658 0 0 0 0 0 538749 0 0 0 Bill Thompson 239026 0 0 50000 3493 0 0 0 0 0 242519 50000 0 0 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 officers. 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. 15(b) - Controller - compensation is determined based on a comparison of the regional salary levels and following an evaluation by the ceo based on performance 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. a final copy of the 990 is provided to each board member prior to it being filed. part xi, line 5 Distribution made to subsidiary that is not included in this tax return. HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:Bill Thompson TITLE:CFO HOURS:10 HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:Greg Sawyers TITLE:Compliance HOURS:10 HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:Jeff Gibbs TITLE:CIO HOURS:10 HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:Julie Huffines TITLE:CAO HOURS:10 Edsouth Funding LLC 104 N Seven Oaks Drive Knoxville TN 37922 999999999 Student loans TN -8272939 0 NA Edsouth Conduit Funding LLC 104 N Seven Oaks Drive Knoxville TN 37922 999999999 Student loans TN -5736518 680767803 NA Edsouth Indenture #1 LLC 104 N Seven Oaks Drive Knoxville TN 37922 999999999 Student loans TN 3600317 186200468 NA north oak llc 104 N Seven Oaks Drive knoxville TN 37922 999999999 student loans TN 51410749 300455564 na Edbancorp Inc 104 N Seven Oaks Drive Knoxville TN 37922 262930965 Commercial ba TN NA C Corp 1932299 17784149 1.00000 The Community Bank of the Cumberlands I PO box 696 jamestown TN 38556 621834541 Commercial ba TN Edbancorp Inc C Corp 1712484 165071994 1.00000 Community Investments of the Cumberlands 744 south willow avenue cookeville TN 38501 205618849 Banking inves TN Edbancorp Inc C Corp 0 0 1.00000 false true false false false false true true false false false false false true true false true false COMMUNITY BANK OF THE CUMBERLANDS b 180000 actual expnse COMMUNITY BANK OF THE CUMBERLANDS g 11928539 face value COMMUNITY BANK OF THE CUMBERLANDS h 5915 book value COMMUNITY BANK OF THE CUMBERLANDS n 152500 estimation COMMUNITY BANK OF THE CUMBERLANDS o 241639 actual expense COMMUNITY BANK OF THE CUMBERLANDS q 18719 book value