CONNECTICUT STUDENT LOAN FOUNDTION: Form 990, tax year 2009
View the entire original 990 at ProPublica ↗
- Organization
- CONNECTICUT STUDENT LOAN FOUNDTION (EIN 06-0812178)
- Tax period
- 2009-10-01 to 2010-09-30
- Filed
- 2011-08-01
- IRS object ID
- 201102139349300860
- Schema version
- 2009v1.7
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Timestamp | 2011-08-01T14:51:39-05:00 | Timestamp |
| Tax Period End Date | 2010-09-30 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Whittlesey & Hadley PC | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 147 Charter Oak Ave | AddressLine1 |
| City | Hartford | City |
| State | CT | State |
| ZIP Code | 061065100 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2009-10-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 060812178 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Connecticut Student Loan Foundation | BusinessNameLine1 |
| Business Name Line2 | co Education Solution Partners LLC | BusinessNameLine2 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | CONN | NameControl |
| Phone | 4402343250 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 7271 Engle Road Suite 101 | AddressLine1 |
| City | Cleveland | City |
| State | OH | State |
| ZIP Code | 44130 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | Randall Behm | Name |
| Title | Manager and Administrative Agent | Title |
| Phone | 4402343250 | Phone |
| Date Signed | 2011-08-01 | DateSigned |
| Authorize Third Party | 1 | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | Edward G Sullivan | Name |
| Phone | 8605223111 | Phone |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2009 | TaxYear |
| Build TS | 2016-02-24 21:20:13Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Principal Officer Person | Randall Behm | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | c/o Education Solution Partners LLC | AddressLine1 |
| Address Line2 | 7271 Engle Rd Suite 101 | AddressLine2 |
| City | Cleveland | City |
| State | OH | State |
| ZIP Code | 441308404 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 45773702 | GrossReceipts |
| Group Return For Affiliates | 0 | GroupReturnForAffiliates |
| Organization501c | X | Organization501c |
| Web Site | www.cslf.org | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 1967 | YearFormation |
| State Legal Domicile | CT | StateLegalDomicile |
| Activity Or Mission Description | To improve educational opportunity and promote repayment of loans including providing appropriate services incident to the administration of programs which are established to improve educational opportunities. | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 3 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 3 | NbrIndependentVotingMembers |
| Total Nbr Employees | 94 | TotalNbrEmployees |
| Total Nbr Volunteers | 0 | TotalNbrVolunteers |
| Total Gross UBI | 0 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | 0 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Current Year | 0 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 44841902 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 25353516 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 160327 | InvestmentIncomePriorYear |
| Investment Income Current Year | 0 | InvestmentIncomeCurrentYear |
| Other Revenue Current Year | 20420186 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 45002229 | TotalRevenuePriorYear |
| Total Revenue Current Year | 45773702 | TotalRevenueCurrentYear |
| Grants And Similar Amnts CY | 0 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members CY | 0 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 7646805 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 1508420 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp CY | 0 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 0 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 39154232 | OtherExpensePriorYear |
| Other Expenses Current Year | 31407720 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 46801037 | TotalExpensesPriorYear |
| Total Expenses Current Year | 32916140 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | -1798808 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | 12857562 | RevenuesLessExpensesCY |
| Total Assets BOY | 967631789 | TotalAssetsBOY |
| Total Assets EOY | 735662956 | TotalAssetsEOY |
| Total Liabilities BOY | 953169998 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 709316362 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 14461791 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 26346594 | NetAssetsOrFundBalancesEOY |
| Mission Description | See Part I #1 | MissionDescription |
| Significant New Program Services | 0 | SignificantNewProgramServices |
| Significant Change | 1 | SignificantChange |
| Expense | 31777408 | Expense |
| Revenue | 45948955 | Revenue |
| Description | GUARANTEE OF STUDENT LOANS, STUDENT LOAN SERVICING, ORIGINATION OF STUDENT LOANS AND INTEREST ON STUDENT LOANS RECEIVABLES. | Description |
| Total Program Service Expense | 31777408 | TotalProgramServiceExpense |
| Described In501 C3 | 1 | DescribedIn501C3 |
| Schedule B Required | 0 | ScheduleBRequired |
| Political Activities | 0 | PoliticalActivities |
| Lobbying Activities | 0 | LobbyingActivities |
| Subject To Proxy Tax | 0 | SubjectToProxyTax |
| Donor Advised Funds | 0 | DonorAdvisedFunds |
| Conservation Easements | 0 | ConservationEasements |
| Collections Of Art | 0 | CollectionsOfArt |
| Credit Counseling | 0 | CreditCounseling |
| Term Or Permanent Endowments | 0 | TermOrPermanentEndowments |
| Balance Sheet Amounts Reported | 1 | BalanceSheetAmountsReported |
| Independent Audit Financial Stmt | 1 | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | 0 | ConsolidatedAuditFinancialStmt |
| School | 0 | School |
| Foreign Office | 0 | ForeignOffice |
| Foreign Activities | 0 | ForeignActivities |
| More Than5000 K To Organizations | 0 | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividuals |
| Professional Fundraising | 0 | ProfessionalFundraising |
| Fundraising Activities | 0 | FundraisingActivities |
| Gaming | 0 | Gaming |
| Hospital | 0 | Hospital |
| Grants To Organizations | 0 | GrantsToOrganizations |
| Grants To Individuals | 0 | GrantsToIndividuals |
| Schedule J Required | 1 | ScheduleJRequired |
| Tax Exempt Bonds | 1 | TaxExemptBonds |
| Invest Tax Exempt Bonds | 0 | InvestTaxExemptBonds |
| Escrow Account | 0 | EscrowAccount |
| On Behalf Of Issuer | 0 | OnBehalfOfIssuer |
| Excess Benefit Transaction | 0 | ExcessBenefitTransaction |
| Prior Excess Benefit Transaction | 0 | PriorExcessBenefitTransaction |
| Loan To Officer Or DQP | 0 | LoanToOfficerOrDQP |
| Grant To Related Person | 0 | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | 0 | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | 0 | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | 0 | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | 0 | DeductibleNonCashContributions |
| Deductible Contributions Of Art | 0 | DeductibleContributionsOfArt |
| Terminated | 0 | Terminated |
| Partial Liquidation | 0 | PartialLiquidation |
| Disregarded Entity | 0 | DisregardedEntity |
| Related Entity | 1 | RelatedEntity |
| Related Org Controlled Entity | 0 | RelatedOrgControlledEntity |
| Transfers To Exempt Non Chrtbl Org | 0 | TransfersToExemptNonChrtblOrg |
| Activities Conducted Partnership | 0 | ActivitiesConductedPartnership |
| Schedule O Required | 1 | ScheduleORequired |
| Number Forms Transmitted With1096 | 14 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Number Of Employees | 94 | NumberOfEmployees |
| Employment Tax Returns Filed | 1 | EmploymentTaxReturnsFiled |
| Unrelated Business Income | 0 | UnrelatedBusinessIncome |
| Foreign Financial Account | 0 | ForeignFinancialAccount |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTrans |
| Taxable Party Notification | 0 | TaxablePartyNotification |
| Non Deductible Contributions | 0 | NonDeductibleContributions |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributions |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOf |
| Nbr Voting Governing Body Members | 3 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 3 | NumberIndependentVotingMembers |
| Family Or Business Relationship | 0 | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | 1 | DelegationOfManagementDuties |
| Changes To Organizing Docs | 1 | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuse |
| Members Or Stockholders | 0 | MembersOrStockholders |
| Election Of Board Members | 0 | ElectionOfBoardMembers |
| Decisions Subject To Approval | 0 | DecisionsSubjectToApproval |
| Minutes Of Governing Body | 1 | MinutesOfGoverningBody |
| Minutes Of Committees | 1 | MinutesOfCommittees |
| Officer Mailing Address | 1 | OfficerMailingAddress |
| Local Chapters | 0 | LocalChapters |
| Form990 Provided To Governing Body | 1 | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | 1 | ConflictOfInterestPolicy |
| Annual Disclosure Covered Persons | 0 | AnnualDisclosureCoveredPersons |
| Regular Monitoring Enforcement | 0 | RegularMonitoringEnforcement |
| Whistleblower Policy | 0 | WhistleblowerPolicy |
| Document Retention Policy | 1 | DocumentRetentionPolicy |
| Compensation Process CEO | 0 | CompensationProcessCEO |
| Compensation Process Other | 0 | CompensationProcessOther |
| Investment In Joint Venture | 0 | InvestmentInJointVenture |
| States Where Copy Of Return Is Filed | CT | StatesWhereCopyOfReturnIsFiled |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
Name Business NameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RANDALL BEHM EDUCATION SOLUTION PART | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Telephone Number | 4402343220 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | c/o Education Solution Partners LLC | AddressLine1 |
| City | CLEVELAND | City |
| State | OH | State |
| ZIP Code | 441308404 | ZIPCode |
Form990 Part VII Section A Form990PartVIISectionA (6 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Individual Trustee Or DirectorIndividualTrusteeOrDirector | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation | FormerFormer |
|---|---|---|---|---|---|---|
| MICHAEL MEOTTI | ||||||
| CHAIR | 2.00 | X | 0 | 0 | 0 | |
| FRANK W RIDLEY | ||||||
| SECRETARY | 2.00 | X | 0 | 0 | 0 | |
| HOWARD RIFKIN | ||||||
| VICE CHAIR | 1.00 | X | 0 | 0 | 0 | |
| MARK VALENTI | ||||||
| FORMER PRESIDENT | 1.00 | 303100 | 0 | 14275 | X | |
| DIANE DEL ROSSO | ||||||
| Former SR. Vice PRESIDEN | 4.00 | 252185 | 0 | 19468 | X | |
| RICHARD CROCE | ||||||
| Former ACTING PRESIDENT | 16.00 | 143045 | 0 | 22768 | X | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 698330 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 0 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 56511 | TotalOtherCompensation |
| Number Individuals GT100 K | 3 | NumberIndividualsGT100K |
| Formers Listed | 1 | FormersListed |
| Total Comp GT150 K | 1 | TotalCompGT150K |
| Compensation From Other Sources | 0 | CompensationFromOtherSources |
Contractor Compensation ContractorCompensation (5 entries)
| Address Line1AddressOfContractor/AddressUS/AddressLine1 | CityAddressOfContractor/AddressUS/City | StateAddressOfContractor/AddressUS/State | ZIP CodeAddressOfContractor/AddressUS/ZIPCode | Description Of ServicesDescriptionOfServices | CompensationCompensation |
|---|---|---|---|---|---|
| US DEPARTMENT OF EDUCATION | |||||
| PO BOX 2324 | MONTGOMERY | AL | 361022324 | FFELP | 14214056 |
| GRANITE STATE MGMT & RES | |||||
| 4 barrell STREET | CONCORD | NH | 03301 | Servicing | 2336209 |
| EDFINANCIAL SERVICES LLC | |||||
| PO BOX 36014 | knoxville | TN | 37930 | Servicing | 1514051 |
| Pullman & Comley LLC | |||||
| 830 Main Street | Bridgeport | CT | 06601 | Attorney | 374777 |
| Education Solution Partners | |||||
| 7271 Engle Road Suite 101 | cleveland | OH | 44130 | Management | 281000 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of Contractors GT100 K | 6 | NumberOfContractorsGT100K |
Program Service Revenue ProgramServiceRevenue (3 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome |
|---|---|---|---|
| Loan PORTFOLIO INTERES | 900099 | 23241601 | 23241601 |
| Guarantee Program Reve | 900099 | 2100957 | 2100957 |
| Fees | 900099 | 10958 | 10958 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 25353516 | TotalProgramServiceRevenue |
Other Revenue Misc OtherRevenueMisc
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | Gain on Redemption of | Description |
| Business Code | 900099 | BusinessCode |
| Total Revenue Column | 20420186 | TotalRevenueColumn |
| Related Or Exempt Function Income | 20420186 | RelatedOrExemptFunctionIncome |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Revenue | 20420186 | TotalOtherRevenue |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 45773702 | TotalRevenueColumn |
| Related Or Exempt Function Income | 45773702 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 0 | UnrelatedBusinessRevenue |
| Exclusion | $0 | ExclusionAmount |
Other Salaries And Wages OtherSalariesAndWages
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1024642 | Total |
| Program Services | 870946 | ProgramServices |
| Management And General | 153696 | ManagementAndGeneral |
Other Employee Benefits OtherEmployeeBenefits
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 388702 | Total |
| Program Services | 330397 | ProgramServices |
| Management And General | 58305 | ManagementAndGeneral |
Payroll Taxes PayrollTaxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 95076 | Total |
| Program Services | 80815 | ProgramServices |
| Management And General | 14261 | ManagementAndGeneral |
Fees For Services Management FeesForServicesManagement
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 403606 | Total |
| Management And General | 403606 | ManagementAndGeneral |
Fees For Services Legal FeesForServicesLegal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 360981 | Total |
| Management And General | 360981 | ManagementAndGeneral |
Fees For Services Accounting FeesForServicesAccounting
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 63768 | Total |
| Program Services | 57188 | ProgramServices |
| Management And General | 6580 | ManagementAndGeneral |
Fees For Services Other FeesForServicesOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 45537 | Total |
| Program Services | 38706 | ProgramServices |
| Management And General | 6831 | ManagementAndGeneral |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 172422 | Total |
| Program Services | 146559 | ProgramServices |
| Management And General | 25863 | ManagementAndGeneral |
Information Technology InformationTechnology
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 510417 | Total |
| Program Services | 433854 | ProgramServices |
| Management And General | 76563 | ManagementAndGeneral |
Occupancy Occupancy
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 72328 | Total |
| Program Services | 61479 | ProgramServices |
| Management And General | 10849 | ManagementAndGeneral |
Travel Travel
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 21850 | Total |
| Program Services | 18572 | ProgramServices |
| Management And General | 3278 | ManagementAndGeneral |
Conferences Meetings ConferencesMeetings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 152 | Total |
| Program Services | 129 | ProgramServices |
| Management And General | 23 | ManagementAndGeneral |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 3512 | Total |
| Program Services | 2985 | ProgramServices |
| Management And General | 527 | ManagementAndGeneral |
Insurance Insurance
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 53510 | Total |
| Program Services | 45484 | ProgramServices |
| Management And General | 8026 | ManagementAndGeneral |
Other Expenses OtherExpenses (5 entries)
| DescriptionDescription | TotalTotal | Program ServicesProgramServices | Management And GeneralManagementAndGeneral |
|---|---|---|---|
| Secondary Market Expens | 26925068 | 26925068 | |
| Transfer of Federal Res | 1873441 | 1873441 | |
| COLLECTION COSTS | 617586 | 617586 | |
| unreimbursed guarantee | 221256 | 221256 | |
| bank fees | 62286 | 52943 | 9343 |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 32916140 | Total |
| Program Services | 31777408 | ProgramServices |
| Management And General | 1138732 | ManagementAndGeneral |
| Fundraising | 0 | Fundraising |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | 479187 | EOY |
Savings And Temp Cash Investments SavingsAndTempCashInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 182969052 | BOY |
| EOY | 36850928 | EOY |
Pledges And Grants Receivable PledgesAndGrantsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 5233852 | BOY |
Accounts Receivable AccountsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 721129 | BOY |
Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 169603 | BOY |
| EOY | 131409 | EOY |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 85243 | BOY |
Investments Program Related InvestmentsProgramRelated
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 772316659 | BOY |
| EOY | 695537955 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 6136251 | BOY |
| EOY | 2663477 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 967631789 | BOY |
| EOY | 735662956 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 9349133 | BOY |
| EOY | 6166362 | EOY |
Deferred Revenue DeferredRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1357468 | BOY |
Tax Exempt Bond Liabilities TaxExemptBondLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 36900000 | BOY |
| EOY | 32000000 | EOY |
Mort Notes Pybl Secured Invest Prop MortNotesPyblSecuredInvestProp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 327 | BOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 905563070 | BOY |
| EOY | 671150000 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 953169998 | BOY |
| EOY | 709316362 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Do Not Follow SFAS117 | X | DoNotFollowSFAS117 |
Cap Stck Trst Prin Current Funds CapStckTrstPrinCurrentFunds
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 14461791 | BOY |
| EOY | 26346594 | EOY |
Paid In Cap Srpls Land Bldg Eqp Fund PaidInCapSrplsLandBldgEqpFund
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Retained Earnings Endowment Etc RetainedEarningsEndowmentEtc
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 14461791 | BOY |
| EOY | 26346594 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 967631789 | BOY |
| EOY | 735662956 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | 0 | AccountantCompileOrReview |
| FS Audited | 1 | FSAudited |
| Audit Committee | 1 | AuditCommittee |
| Financial Statement Consolidated | X | FinancialStatementConsolidated |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequired |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Publicly Supported Org509a2 | X | PubliclySupportedOrg509a2 |
Gross Receipts From Admissions GrossReceiptsFromAdmissions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 51152810 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 71085704 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 65865259 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 44841902 | CurrentTaxYearMinus1Year |
| Current Tax Year | 25353516 | CurrentTaxYear |
| Total | 258299191 | Total |
Total509 Total509
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 51152810 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 71085704 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 65865259 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 44841902 | CurrentTaxYearMinus1Year |
| Current Tax Year | 25353516 | CurrentTaxYear |
| Total | 258299191 | Total |
Amts Recd From Disqual Persons AmtsRecdFromDisqualPersons
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Amts From Subst Contributors AmtsFromSubstContributors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Support From DQ Ps Etc SupportFromDQPsEtc
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Support Total509 | 258299191 | PublicSupportTotal509 |
Gross Investment Income509 GrossInvestmentIncome509
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 2820623 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 917023 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 446636 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 160327 | CurrentTaxYearMinus1Year |
| Total | 4344609 | Total |
Investment Income And UBTI InvestmentIncomeAndUBTI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 2820623 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 917023 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 446636 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 160327 | CurrentTaxYearMinus1Year |
| Total | 4344609 | Total |
Total Support Total TotalSupportTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 53973433 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 72002727 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 66311895 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 45002229 | CurrentTaxYearMinus1Year |
| Current Tax Year | 25353516 | CurrentTaxYear |
| Total | 262643800 | Total |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Support Percentage509 | 0.98350 | PublicSupportPercentage509 |
| Prior Year Support Percentage | 0.97380 | PriorYearSupportPercentage |
| Investment Income Percentage | 0.01650 | InvestmentIncomePercentage |
| Prior Yr Invest Income Percentage | 0.02620 | PriorYrInvestIncomePercentage |
| Thirty Three Percnt Tests CY509 | X | ThirtyThreePercntTestsCY509 |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 0 | TotalOfBookValueLandBuildings |
Investments Program Related InvestmentsProgramRelated
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | STUDENT LOAN PORTFOLIO | Description |
| Book Value | 695537955 | BookValue |
| Method Of Valuation | C | MethodOfValuation |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Program Related | 695537955 | TotalOfBookValueProgramRelated |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | Bond payable | Description |
| Amount | $671,150,000 | Amount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Amounts | 671150000 | TotalOfAmounts |
| Total Revenue | 45773702 | TotalRevenue |
| Total Expenses | 32916140 | TotalExpenses |
| Excess Or Deficit For Year | 12857562 | ExcessOrDeficitForYear |
| Other | -$972,759 | OtherAmount |
| Total Adjustments | -972759 | TotalAdjustments |
| Excess Or Deficit Per FS | 11884803 | ExcessOrDeficitPerFS |
| Tot Revenue Etc Audited Fincl Stmt | 45948955 | TotRevenueEtcAuditedFinclStmt |
| Other Revenues | 175253 | OtherRevenues |
| Revenue Not Rptd F990 | 175253 | RevenueNotRptdF990 |
| Revenue Subtotal | 45773702 | RevenueSubtotal |
| Revenue Not Rptd On Fin Stmt | 0 | RevenueNotRptdOnFinStmt |
| Total Revenue Per Form990 | 45773702 | TotalRevenuePerForm990 |
| Tot Expenses Etc Audited Fincl Stmt | 34064152 | TotExpensesEtcAuditedFinclStmt |
| Other Expenses Included | 1148012 | OtherExpensesIncluded |
| Expenses Not Rptd F990 | 1148012 | ExpensesNotRptdF990 |
| Expenses Subtotal | 32916140 | ExpensesSubtotal |
| Expenses Not Rptd On Fin Stmt | 0 | ExpensesNotRptdOnFinStmt |
| Total Expenses Per Form990 | 32916140 | TotalExpensesPerForm990 |
Form990 Schedule D Part XIV Form990ScheduleDPartXIV (3 entries)
| IdentifierIdentifier | ExplanationExplanation |
|---|---|
| Part XI, Line 8 - Other Adjustments: | Write off receivables from dissolved subsidiaries: -972759. |
| Part XII, Line 2d - Other Adjustments: | Write off of payables of disolved subsidiaries: 175253. |
| Part XIII, Line 2d - Other Adjustments: | WRITE OFF ASSETS FROM DISSOLVED SUBSIDIARIES: 1148012. |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Severance Payment | 1 | SeverancePayment |
| Supplemental Nonqual Retire Plan | 0 | SupplementalNonqualRetirePlan |
| Equity Based Comp Arrangement | 0 | EquityBasedCompArrangement |
| Comp Based On Revenue Of Filing Org | 0 | CompBasedOnRevenueOfFilingOrg |
| Comp Based On Revenue Related Orgs | 0 | CompBasedOnRevenueRelatedOrgs |
| Comp Based Net Earnings Filing Org | 0 | CompBasedNetEarningsFilingOrg |
| Comp Based Net Earnings Relate Orgs | 0 | CompBasedNetEarningsRelateOrgs |
| Any Non Fixed Payments | 0 | AnyNonFixedPayments |
| Initial Contract Exception | 0 | InitialContractException |
Form990 Schedule J Part II Form990ScheduleJPartII (3 entries)
| Base Compensation Filing OrgBaseCompensationFilingOrg | Comp Based On Related OrgsCompBasedOnRelatedOrgs | Bonus Filing OrgBonusFilingOrg | Bonus Related OrgsBonusRelatedOrgs | Other Compensation Filing OrgOtherCompensationFilingOrg | Other Compensation Related OrgsOtherCompensationRelatedOrgs | Deferred Comp Filing OrgDeferredCompFilingOrg | Deferred Comp Related OrgsDeferredCompRelatedOrgs | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrg | Nontaxable Benefits Related OrgsNontaxableBenefitsRelatedOrgs | Total Compensation Filing OrgTotalCompensationFilingOrg | Total Compensation Related OrgsTotalCompensationRelatedOrgs | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrg | Comp Report Prior990 Related OrgsCompReportPrior990RelatedOrgs |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| MARK VALENTI | |||||||||||||
| 156100 | 0 | 0 | 0 | 147000 | 0 | 0 | 0 | 14275 | 0 | 317375 | 0 | 303100 | 0 |
| DIANE DEL ROSSO | |||||||||||||
| 252185 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 19468 | 0 | 271653 | 0 | 252185 | 0 |
| RICHARD CROCE | |||||||||||||
| 143045 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 22768 | 0 | 165813 | 0 | 107284 | 0 |
Form990 Schedule J Part III Form990ScheduleJPartIII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Reference | Part I, Line 4a | ReturnReference |
| Explanation | Mark Valenti, Former President, Legal Settlement:$147,000 Diane DelRosso, Former Sr. Vice President, Severance Payment:$108,798 | Explanation |
Schedule K IRS990ScheduleK
Form990 Schedule K Part I Form990ScheduleKPartI
Issuer Name IssuerName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CONNECTICUT STUDENT LOAN FOUNDATION REVENUE BONDS | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Issuer EIN | 060812178 | IssuerEIN |
| CUSIP Number | 207784AY5 | CUSIPNumber |
| Date Issued | 2007-12-13 | DateIssued |
| Issue Price | 36900000 | IssuePrice |
| Description Of Purpose | 2007b-2 - STUDENT LOAN REVENUE BONDS | DescriptionOfPurpose |
| Defeased | 0 | Defeased |
| On Behalf Of Issuer | 0 | OnBehalfOfIssuer |
Form990 Schedule K Part II Form990ScheduleKPartII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Refunding | 0 | CurrentRefunding |
| Advance Refunding | 0 | AdvanceRefunding |
| Final Allocation Made | 0 | FinalAllocationMade |
| Adequate Books And Recds Maintaind | 0 | AdequateBooksAndRecdsMaintaind |
Form990 Schedule K Part III Form990ScheduleKPartIII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Owning Bond Financed Property | 0 | OwningBondFinancedProperty |
| Any Lease Arrangements | 0 | AnyLeaseArrangements |
| Mngment Cntrct Bond Financd Prprty | 0 | MngmentCntrctBondFinancdPrprty |
| Any Research Agreements | 0 | AnyResearchAgreements |
| Bond Counsel Routinely Engaged | 1 | BondCounselRoutinelyEngaged |
| Prcntge Prvt Business Use By Others | 0.00000 | PrcntgePrvtBusinessUseByOthers |
| Percentage Of Prvt Business Re UBI | 0.00000 | PercentageOfPrvtBusinessReUBI |
| Total Private Business Use | 0.00000 | TotalPrivateBusinessUse |
| Post Issuance Compliance Procdrs | 0 | PostIssuanceComplianceProcdrs |
Form990 Schedule K Part IV Form990ScheduleKPartIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form8038 T Filed | 0 | Form8038TFiled |
| Variable Rate Issue | 1 | VariableRateIssue |
| Hedge Identified In Books And Recds | 0 | HedgeIdentifiedInBooksAndRecds |
| Gross Proceeds Invested In GIC | 0 | GrossProceedsInvestedInGIC |
| Gross Proceeds Invested | 0 | GrossProceedsInvested |
| Exception To Rebate | 0 | ExceptionToRebate |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (7 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| Form 990, Part III, line 3 | Changes in Program Services | CSLF ceased accepting loan applications effective July 1, 2009. This affected the growth in the guarantee agency for new volume and new loan volume as a lender in the FFEL program. On November 5, 2009, CSLF's Board of Directors entered into an agreement with Educational Credit Management Corporation (ECMC) and the U.S. Department of Education under which CSLF transferred its guarantor responsibilities, including the Loan Guarantee and Collections functions to ECMC. As of January 1, 2010, CSLF's Federal Fund, Agency Operating Fund, and defaulted loan portfolio were transferred to ECMC. |
| Form 990, Part VI, Section A, line 3 | CSLF contracted all administration to Education Solution Partners, LLC ("ESP") effective January 4, 2010. The Rocky Hill, CT facility was closed February 2010. CSLF has no active employees. | |
| Form 990, Part VI, Section A, line 4 | Resolutions to Amend Foundation Bylaws and Authorize Chairman or Vice Chairman to Provide Notices of Designation of Education Solution Partners, LLC ("ESP") as Administrator and to Appoint ESP Employees as Foundation Officers: WHEREAS, the Board of Directors of Connecticut Student Loan Foundation (the "Foundation") has determined that it is in the Foundation's best interest and the fulfillment of the Foundation's mission and purpose to improve educational opportunity and promote the repayment of loans, for the Foundation to engage Education Solution Partners, LLC (ESP) to serve as the administrator of the Foundation pursuant to an agreement, managing all aspects of the Foundation's business on an outsourced basis, using ESP's industry expertise to execute the Foundation's education strategy, performing administrative functions and day-to-day functions associated with managing the Foundation's remaining assets, consisting primarily of a portfolio of securitized student loans; and WHEREAS, in light of the Foundation's engagement of ESP pursuant to the agreement with ESP, there is no longer a necessity that the Foundation maintain the full slate of corporate officers that are created pursuant to Article IV of the Foundation's Bylaws; NOW THEREFORE, be it: RESOLVED, that the Foundation hereby amends Article IV of its Bylaws by deleting such Article IV in its entirety and by replacing Article IV with the following: ARTICLE IV Officers Of The Foundation The Board of Directors may appoint such officers and employees as it deems advisable and may fix their compensation and prescribe their duties; and be it further RESOLVED, that the Chairman of the Board and Vice Chairman of the Board and the Secretary of the Board be, and each of them, acting singly, hereby is, authorized, empowered and directed to take any and all action deemed appropriate or advisable to effectuate the foregoing resolution; and be it further RESOLVED, that Chairman of the Board and Vice Chairman of the Board be, and each of them, acting singly, hereby is, authorized and empowered to provide notices of the terms of ESPs designation as the administrator of the Foundation to interested persons; and be it further RESOLVED, that Chairman of the Board and Vice Chairman of the Board be, and each of them, acting singly, hereby is, authorized and empowered to appoint as officers of the Foundation and to designate their titles, certain individual employees of ESP who may from time to time be managing aspects of the Foundation's business on an outsourced basis or performing administrative functions associated with managing the Foundation's remaining assets, as either the Chairman of the Board or the Vice Chairman of the Board deems advisable, with such ESP employees to bear such titles and to occupy such offices without compensation and for such periods as the Chairman of the Board or the Vice Chairman of the Board shall determine (subject, however, to the provisions of the Bylaws of the Foundation pertaining to the resignation, removal or other termination in office of an incumbent officer); and be it further RESOLVED, that the Chairman of the Board and Vice Chairman of the Board be, and each of them, acting singly, hereby is, authorized, empowered and directed to take any and all action deemed appropriate or advisable to effectuate the foregoing resolution. | |
| Form 990, Part VI, Section B, line 11 | The Board of Directors reviews and approves Form 990 before filing. | |
| Form 990, Part VI, Section C, line 19 | The organization makes its governing documents, conflict of interest policy and financial statements available to the public upon request. | |
| FORM 990, PART XI, LINE 2C | THE ORGANIZTION DID NOT CHANGE ITS PROCESS OR SELECTION DURING THE YEAR. | |
| 990 Part VI Section A No. 9 | Former officers not available at organization address: Mark Valenti, 20 Teds Court, Cheshire, CT 06410 Diane DelRosso, 9 Judd Brook Lane, Amston, CT 06231 R. Richard Croce, 211 N. Parker Hill Rd., Killingworth, CT 06419 |
Schedule R IRS990ScheduleR
Form990 Schedule R Part IV Form990ScheduleRPartIV (2 entries)
| Address Line1AddressUS/AddressLine1 | CityAddressUS/City | StateAddressUS/State | ZIP CodeAddressUS/ZIPCode | EINEIN | Primary ActivityPrimaryActivity | Legal Domicile StateLegalDomicileState | Type Of EntityTypeOfEntity | Percentage OwnershipPercentageOwnership |
|---|---|---|---|---|---|---|---|---|
| Kissystems Inc | ||||||||
| c/o Education Solution Partners LLC | CLEVELAND | OH | 441308404 | 061466777 | Software Developer | CT | C | 1.00000 |
| First Rate Marketing Corporation | ||||||||
| c/o Education Solution Partners LLC | CLEVELAND | OH | 441308404 | 061628642 | Education Loans Marketing | CT | C | 1.00000 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Ann Rents Royalties | 0 | ReceiptOfIntAnnRentsRoyalties |
| Gift Grant Or Cap Contr To Other Org | 0 | GiftGrantOrCapContrToOtherOrg |
| Gift Grant Or Cap Contr Fr Other Org | 0 | GiftGrantOrCapContrFrOtherOrg |
| Loans Or Guarantees To Other Org | 1 | LoansOrGuaranteesToOtherOrg |
| Loans Or Guarantees From Other Org | 0 | LoansOrGuaranteesFromOtherOrg |
| Sale Of Assets To Other Org | 0 | SaleOfAssetsToOtherOrg |
| Purchase Of Assets From Other Org | 0 | PurchaseOfAssetsFromOtherOrg |
| Exchange Of Assets | 0 | ExchangeOfAssets |
| Rental Of Facilities To Other Orgs | 0 | RentalOfFacilitiesToOtherOrgs |
| Rental Of Facilities Fr Other Orgs | 0 | RentalOfFacilitiesFrOtherOrgs |
| Perform Of Services For Other Orgs | 0 | PerformOfServicesForOtherOrgs |
| Perform Of Services By Other Orgs | 0 | PerformOfServicesByOtherOrgs |
| Sharing Of Facilities | 0 | SharingOfFacilities |
| Sharing Of Paid Employees | 0 | SharingOfPaidEmployees |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrg |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrg |
| Other Transfer To Other Org | 0 | OtherTransferToOtherOrg |
| Other Transfer From Other Org | 0 | OtherTransferFromOtherOrg |
Transactions Related Orgs Table TransactionsRelatedOrgsTable (2 entries)
| Transaction TypeTransactionType |
|---|
| Kissystems Inc |
| D |
| First Rate Marketing Corp |
| D |
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