2011-02-14T10:55:28-07:00 2010-06-30 990 2009-07-01 042875329 THE EDUCATION RESOURCES INSTITUTE INC EDUC 6175356834 31 Saint James Avenue Suite 950 Boston MA 02116 William Davidson 6175356835 2011-02-14 2009 2016-02-24 21:20:13Z TERI The Education Resources Institute Inc 31 Saint James Avenue Suite 950 Boston MA 02116 11565300 0 X www.teri.org X 1985 MA TERI's principal purpose is to promote programs that provide support for financing and other initiatives to assist students and their families in obtaining greater access to educational opportunities and acheive their educational goals. 8 7 83 0 0 0 2378125 1545196 19324984 6158981 13621561 3861123 0 0 35324670 11565300 0 0 0 0 8086902 6355118 0 0 0 149637391 19478525 157724293 25833643 -122399623 -14268343 697746226 678219490 692469616 689606907 5276610 -11387417 TERI's principal purpose is to promote programs that provide support for financing and other intiatives to assist students and their families in obtaining greater access to educational opportunities and acheive their educational goals. 0 0 2862688 0 174028 College Access and Success Programs: TERI offers comprehensive information, guidance and practical help to assist underserved indivduals achieve their post-secondary educational goals through College Planning Centers (CPCs) and school-based programs in urban communities. Achievements: TERI's CPCs served an estimated 25,000 individuals through outreach, Center visits, phone calls and email. TERI's school-based activities served 2,600 students; 556 were high school seniors and roughly 84% of those seniors enrolled in programs of post-secondary education. The remaining 2,044 students were in grades 7-11 and participated in college campus tours, summer programs, academic support, test preparation, assistance with college preparatory course selection and researching colleges and scholarships. College transition support services were provided to 51 high school graduates who were at risk of not enrolling and persisting in programs of post-secondary education. 11016160 0 9846076 Education Finance Program: TERI's education finance program provided guarantees on private student loans. These loan guarantees enabled students with little or no credit history to obtain loans to help close the gap between education costs and other resources such as financial aid, savings and family support. Through these loan guarantees, TERI brought together lenders, schools, students and families to make available low-cost, high quality financing for post-secondary education. 0 0 0 13878848 1 1 0 0 0 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 2857 0 1 83 1 0 0 0 0 0 0 0 0 0 8 7 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X Amy Bizar 6175356843 31 Saint James Avenue Suite 950 Boston MA 02116 Barbara Tornow 7 X 21500 1000 0 Edward Piana 7 X 22000 1000 0 Grace Fey 7 X 16000 0 0 Howard Jacobson 7 X 20000 1000 0 Neal Finnegan 7 X 15500 0 0 Sherry Penney 7 X 29000 1000 0 Sylvia Simmons 7 X 20000 0 0 Willis Hulings III 37.5 X X 411250 0 38966 William G Davidson 37.5 X 263702 0 17481 Amy Bizar 37.5 X 233804 0 7310 Jane Dixon 37.5 X 160746 0 11605 Eileen Morris 37.5 X 189441 0 17023 Alan Blair 37.5 X 193453 0 17041 Michael Gambee 37.5 X 191552 0 17064 Samuel Corrigan 37.5 X 121559 0 6753 Kristi Pierce 37.5 X 96106 0 14960 Sheryl Asnes 37.5 X 111685 0 16230 2117298 4000 164433 9 0 1 0 Goodwin Procter LLP Exchange Place Boston MA 02109 Legal Counsel 2239478 VanRu Credit Corporation 1350 E Touhy Ave Les Plaines IL 60018 Collection Agency 1433619 Grant Thornton LLP 666 Third Avenue 13th Floor New York NY 10017 Financial Advisor 1382322 Posternak Blankstein 800 Boylston St Boston MA 02199 Legal Counsel 1128641 FTI Consulting 3 Times Sq 11th Floor New York NY 10036 Financial Advisor 1095376 18 0 0 0 0 1388509 156687 0 1545196 Guarantee Fees 900099 5836253 5836253 0 0 Program service Revenue 900099 172309 172309 0 0 Interest: Student Loans 900099 15917 15917 0 0 Collection Management & Other Fees 900099 134502 134502 0 0 0 0 0 0 6158981 3861123 3861123 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 11565300 10020104 0 0 1524169 1524169 3098497 1957690 1140807 934991 411174 523817 482079 331793 150286 315382 170500 144882 3165195 688191 2477004 353106 353106 10055401 5016893 5038508 35639 14837 20802 263473 185450 78023 163015 127494 35521 473475 322753 150722 103494 53931 49563 12666 6431 6235 211677 136638 75039 151497 151497 Provision for Loan Loss 2975835 2975835 0 0 Chapter 11 Settlements (Loss) 1257737 1257737 0 0 Miscellaneous Expense 122827 106281 16546 0 Dues and Subscriptions 57375 46041 11334 0 All Other Expenses 76113 69179 6934 0 0 0 0 25833643 13878848 11954795 0 3163477 2439645 304754119 320152483 271289 149584 34986937 33974023 0 0 247375228 228328529 0 215753 177800 1110587 822387 500878 288200 106478545 92709226 0 697746226 678219490 23291142 23452455 0 22299056 16525214 0 0 0 0 0 646879418 649629238 692469616 689606907 X -10016618 -26680645 13293228 13293228 2000000 2000000 5276610 -11387417 697746226 678219490 X 0 1 1 X 1 1 X 2471990 2714135 2321221 2378125 1545196 11430667 298996803 466394946 298295128 19324984 6158981 1089170842 301468793 469109081 300616349 21703109 7704177 1100601509 1100601509 16865222 29713625 36656235 13621561 3861123 100717766 16865222 29713625 36656235 13621561 3861123 100717766 318334015 498822706 337272584 35324670 11565300 1201319275 0.91616 0.9276 0.08384 0.0724 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 15293228 0 0 0 0 0 15293228 15293228 0 0 0 0 0 15293228 0.87 0.13 0 0 0 0 0 0 0 0 0 0 63674 0 27802 35872 1046913 0 794585 252328 0 0 0 0 288200 0 0 0 Loan Loss Liability 645650650 Accrued Pension Liability 1870828 Bankruptcy Settlement Payable 3865667 Investment in TFSI -1757907 649629238 11565300 25833643 -14268343 -2198850 0 0 0 -196833 -2395683 -16664026 6232616 -2198850 0 0 -3133834 -5332684 11565300 0 0 0 11565300 17663944 0 0 0 -8169699 -8169699 25833643 0 0 0 25833643 SchD_P05_S00_L04 Schedule D, Part V, Line 4 TERI's endowment funds are intended to be used for purposes of the furtherance of higher education through improvements in the administration of and access to financial aid and support of higher education information centers. SchD_P10_S00_L00 Schedule D, Part X N/A SchD_P11_S00_L08 Schedule D, Part XI, Line 8 Investment in subsidiary, -196,833 SchD_P12_S00_L02d Schedule D, Part XII, Line 2d Investment in Subsidiary, -196,833. Reorganization expense item from financial statements included in total revenue, interest earned on accumulated cash resulting from Chapter 11 proceedings $2,937,001. SchD_P13_S00_L02d Schedule D, Part XIII, Line 2d Reorganization expense items from financial statements included in total expense, Professional Fees 6,911,962 amd Loss on Settled Transactions 1,257,737. X X X X X X 0 1 0 0 0 0 0 0 0 Willis Hulings III 411250 0 0 0 0 0 14668 0 24298 0 450216 0 0 0 William G Davidson 263702 0 0 0 0 0 0 0 17481 0 281183 0 0 Amy Bizar 233804 0 0 0 0 0 0 0 7310 0 241114 0 0 0 Jane Dixon 160746 0 0 0 0 0 0 0 11605 0 172351 0 0 Eileen Morris 189441 0 0 0 0 0 0 0 17023 0 206464 0 0 Michael Gambee 191552 0 0 0 0 0 0 0 17064 0 208616 0 0 0 Alan Blair 193453 0 0 0 0 0 0 0 17041 0 210494 0 0 SchJ_P01_S00_L04 Schedule J, Part I, Line 4 Willis J Hulings III, CEO and President, participated in a SERP, calendar year 2009 accrued benefits totalled $14,668. F990_P06_S0B_L11 Form 990, Part VI, Section B, Line 11 Before the Form 990 is finalized, TERI's Finance Department prepares a draft, presents it to senior management and counsel for review and comment, and then provides it to its Board of Directors for their comments. When all comments have been reviewed and the form is finalized, the Finance Department files the form. F990_P06_S0B_L12c Form 990, Part VI, Section B, Line 12c TERI's Board of Directors has adopted a Conflicts of Interest Policy. Each January, all TERI officers and directors are required to read the policy and affirm their understanding, agreement and commitment to the policy by signing an Acknowledgement and Disclosure Form. The responses to questions of outside interests and potential conflicts of interest provided by TERI officers are reviewed by the Vice President, Administration and the responses from directors are reviewed by the chair of the Audit Committee. If necessary, follow-up action is then taken. F990_P06_S0B_L15 Form 990, Part VI, Section B, Line 15 The compensation for TERI's chief executive officer and other officers is determined by the Board of Directors, based on a comparability study prepared by independent consultants. TERI's Board or Executive Committee makes all decisions relating to the compensation of the CEO and TERI's other officers. F990_P06_S0C_L19 Form 990, Part VI, Section C, Line 19 TERI makes its governing documents, conflicts of interest policy and financial statements available to the public upon request, written or oral. SchR_P02_S00_L00 Schedule R, Part II Primary Activity: TERI Financial Services, Inc. fosters and supports educational programs which aid and assist students, parents, and educational institutions in seeking or providing educational opportunities. TERI Financial Services Inc 31 Saint James Avenue Suite 950 Boston MA 02116 043247228 See schedule O MA 501(c)(3) N/A 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0