MASSACHUSETTS HIGHER EDUCATION ASSISTANCE CORPORATION: Form 990, tax year 2009
View the entire original 990 at ProPublica ↗
- Organization
- MASSACHUSETTS HIGHER EDUCATION ASSISTANCE CORPORATION (EIN 04-2254705)
- Tax period
- 2009-07-01 to 2010-06-30
- Filed
- 2011-02-14
- IRS object ID
- 201110459349301421
- 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 | 2011-02-14T17:39:03-06:00 | Timestamp |
| Tax Period End Date | 2010-06-30 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | GRANT THORNTON LLP | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 226 CAUSEWAY STREET | AddressLine1 |
| City | BOSTON | City |
| State | MA | State |
| ZIP Code | 021142155 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2009-07-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 042254705 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MASSACHUSETTS HIGHER EDUCATION ASSISTANCE | BusinessNameLine1 |
| Business Name Line2 | CORPORATION | BusinessNameLine2 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | MASS | NameControl |
| Phone | 6177284549 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 100 CAMBRIDGE STREET | AddressLine1 |
| City | BOSTON | City |
| State | MA | State |
| ZIP Code | 02114 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | BARBARA MATEZ | Name |
| Title | CFO | Title |
| Date Signed | 2011-02-11 | DateSigned |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 6177237900 | Phone |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2009 | TaxYear |
| Build TS | 2016-02-24 21:20:13Z | BuildTS |
Form 990 IRS990
Doing Business As DoingBusinessAs
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | AMERICAN STUDENT ASSISTANCE | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Principal Officer Person | paul combe | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 100 cambridge st suite 1600 | AddressLine1 |
| City | boston | City |
| State | MA | State |
| ZIP Code | 02114 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 229579958 | GrossReceipts |
| Group Return For Affiliates | false | GroupReturnForAffiliates |
| Organization501c | X | Organization501c |
| Web Site | WWW.ASA.ORG | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 1956 | YearFormation |
| State Legal Domicile | MA | StateLegalDomicile |
| Activity Or Mission Description | THE ORGANIZATION'S PRIMARY EXEMPT PURPOSE IS TO PROVIDE ACCESS TO HIGHER EDUCATION. | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 13 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 12 | NbrIndependentVotingMembers |
| Total Nbr Employees | 771 | TotalNbrEmployees |
| Total Nbr Volunteers | 0 | TotalNbrVolunteers |
| Total Gross UBI | 4207370 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | 0 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Current Year | 0 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 97947058 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 153026540 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 2983202 | InvestmentIncomePriorYear |
| Investment Income Current Year | 550454 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 8709 | OtherRevenuePriorYear |
| Other Revenue Current Year | 0 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 100938969 | TotalRevenuePriorYear |
| Total Revenue Current Year | 153576994 | TotalRevenueCurrentYear |
| Grants And Similar Amnts Prior Year | 0 | GrantsAndSimilarAmntsPriorYear |
| Grants And Similar Amnts CY | 0 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members Prior Year | 0 | BenefitsPaidToMembersPriorYear |
| Benefits Paid To Members CY | 0 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 73746535 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 62409076 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp Prior Year | 0 | TotalProfFundrsngExpPriorYear |
| Total Prof Fundrsng Exp CY | 0 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 0 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 53899990 | OtherExpensePriorYear |
| Other Expenses Current Year | 57103048 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 127646525 | TotalExpensesPriorYear |
| Total Expenses Current Year | 119512124 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | -26707556 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | 34064870 | RevenuesLessExpensesCY |
| Total Assets BOY | 148506012 | TotalAssetsBOY |
| Total Assets EOY | 170423324 | TotalAssetsEOY |
| Total Liabilities BOY | 62734847 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 50488132 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 85771165 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 119935192 | NetAssetsOrFundBalancesEOY |
| Mission Description | THE ORGANIZATION'S PRIMARY EXEMPT PURPOSE IS TO PROVIDE ACCESS TO HIGHER EDUCATION. | MissionDescription |
| Significant New Program Services | false | SignificantNewProgramServices |
| Significant Change | false | SignificantChange |
| Expense | 100108141 | Expense |
| Revenue | 153026540 | Revenue |
| Description | MHEAC D/B/A AMERICAN STUDENT ASSISTANCE'S PRIMARY FUNCTION IS TO ACT AS A GUARANTOR OF STUDENT LOANS MADE BY LENDERS IN CONNECTION WITH THE FEDERAL HIGHER EDUCATION ACT OF 1965. IN ADDITION, MHEAC D/B/A AMERICAN STUDENT ASSISTANCE ENGAGES IN A VARIETY OF ACTS IN FURTHERANCE OF HIGHER EDUCATION. | Description |
| Total Program Service Expense | 100108141 | TotalProgramServiceExpense |
| Described In501 C3 | true | DescribedIn501C3 |
| Schedule B Required | false | ScheduleBRequired |
| Political Activities | false | PoliticalActivities |
| Lobbying Activities | true | LobbyingActivities |
| Donor Advised Funds | false | DonorAdvisedFunds |
| Conservation Easements | false | ConservationEasements |
| Collections Of Art | false | CollectionsOfArt |
| Credit Counseling | true | CreditCounseling |
| Term Or Permanent Endowments | false | TermOrPermanentEndowments |
| Balance Sheet Amounts Reported | true | BalanceSheetAmountsReported |
| Independent Audit Financial Stmt | false | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | true | ConsolidatedAuditFinancialStmt |
| School | false | School |
| Foreign Office | false | ForeignOffice |
| Foreign Activities | false | ForeignActivities |
| More Than5000 K To Organizations | false | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | false | MoreThan5000KToIndividuals |
| Professional Fundraising | false | ProfessionalFundraising |
| Fundraising Activities | false | FundraisingActivities |
| Gaming | false | Gaming |
| Hospital | false | Hospital |
| Grants To Organizations | false | GrantsToOrganizations |
| Grants To Individuals | false | GrantsToIndividuals |
| Schedule J Required | true | ScheduleJRequired |
| Tax Exempt Bonds | false | TaxExemptBonds |
| Excess Benefit Transaction | false | ExcessBenefitTransaction |
| Prior Excess Benefit Transaction | false | PriorExcessBenefitTransaction |
| Loan To Officer Or DQP | false | LoanToOfficerOrDQP |
| Grant To Related Person | false | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | false | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | true | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | false | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | false | DeductibleNonCashContributions |
| Deductible Contributions Of Art | false | DeductibleContributionsOfArt |
| Terminated | false | Terminated |
| Partial Liquidation | false | PartialLiquidation |
| Disregarded Entity | false | DisregardedEntity |
| Related Entity | true | RelatedEntity |
| Related Org Controlled Entity | true | RelatedOrgControlledEntity |
| Transfers To Exempt Non Chrtbl Org | false | TransfersToExemptNonChrtblOrg |
| Activities Conducted Partnership | false | ActivitiesConductedPartnership |
| Schedule O Required | true | ScheduleORequired |
| Number Forms Transmitted With1096 | 97 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Compliance With Backup Witholding | true | ComplianceWithBackupWitholding |
| Number Of Employees | 771 | NumberOfEmployees |
| Employment Tax Returns Filed | true | EmploymentTaxReturnsFiled |
| Unrelated Business Income | true | UnrelatedBusinessIncome |
| Form990-T Filed | true | Form990-TFiled |
| Foreign Financial Account | false | ForeignFinancialAccount |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTrans |
| Taxable Party Notification | false | TaxablePartyNotification |
| Non Deductible Contributions | false | NonDeductibleContributions |
| Quid Pro Quo Contributions | false | QuidProQuoContributions |
| Form8282 Property Disposed Of | false | Form8282PropertyDisposedOf |
| Funds To Pay Premiums | false | FundsToPayPremiums |
| Premiums Paid | false | PremiumsPaid |
| Nbr Voting Governing Body Members | 13 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 12 | NumberIndependentVotingMembers |
| Family Or Business Relationship | false | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | false | DelegationOfManagementDuties |
| Changes To Organizing Docs | false | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | false | MaterialDiversionOrMisuse |
| Members Or Stockholders | false | MembersOrStockholders |
| Election Of Board Members | false | ElectionOfBoardMembers |
| Decisions Subject To Approval | false | DecisionsSubjectToApproval |
| Minutes Of Governing Body | true | MinutesOfGoverningBody |
| Minutes Of Committees | true | MinutesOfCommittees |
| Officer Mailing Address | false | OfficerMailingAddress |
| Local Chapters | true | LocalChapters |
| Policies Reference Chapters | false | PoliciesReferenceChapters |
| Form990 Provided To Governing Body | true | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | true | ConflictOfInterestPolicy |
| Annual Disclosure Covered Persons | true | AnnualDisclosureCoveredPersons |
| Regular Monitoring Enforcement | true | RegularMonitoringEnforcement |
| Whistleblower Policy | true | WhistleblowerPolicy |
| Document Retention Policy | true | DocumentRetentionPolicy |
| Compensation Process CEO | true | CompensationProcessCEO |
| Compensation Process Other | true | CompensationProcessOther |
| Investment In Joint Venture | false | InvestmentInJointVenture |
| States Where Copy Of Return Is Filed | MA | StatesWhereCopyOfReturnIsFiled |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Person | BARBARA MATEZ | NamePerson |
| Telephone Number | 6175352113 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 100 CAMBRIDGE STREET SUITE 1600 | AddressLine1 |
| City | BOSTON | City |
| State | MA | State |
| ZIP Code | 02114 | ZIPCode |
Form990 Part VII Section A Form990PartVIISectionA (34 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Individual Trustee Or DirectorIndividualTrusteeOrDirector | OfficerOfficer | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation | Key EmployeeKeyEmployee | Highest Compensated EmployeeHighestCompensatedEmployee |
|---|---|---|---|---|---|---|---|---|
| PAUL COMBE | ||||||||
| PRESIDENT/DIRECTOR | 40.0 | X | X | 352158 | 0 | 12142 | ||
| ANDY GOMEZ | ||||||||
| DIRECTOR | 1.0 | X | 18600 | |||||
| DEBORAH JACKSON | ||||||||
| DIRECTOR | 1.0 | X | 7950 | |||||
| DIONE KENYON | ||||||||
| DIRECTOR | 2.0 | X | 30000 | |||||
| DONALD REAVES | ||||||||
| DIRECTOR | 1.0 | X | 18650 | |||||
| JEAN EDDY | ||||||||
| DIRECTOR | 2.0 | X | 34400 | |||||
| PETER READ | ||||||||
| DIRECTOR | 2.0 | X | 33100 | |||||
| PETER SEGALL | ||||||||
| DIRECTOR | 2.0 | X | 25800 | |||||
| PIEDAD ROBERTSON | ||||||||
| DIRECTOR | 2.0 | X | 29050 | |||||
| RICHARD WILEY | ||||||||
| DIRECTOR | 1.0 | X | 15900 | |||||
| STEPHEN BIKLEN | ||||||||
| DIRECTOR | 2.0 | X | 29150 | |||||
| CAROL FULP | ||||||||
| DIRECTOR | 1.0 | X | 4800 | |||||
| JOHN HUPALO | ||||||||
| DIRECTOR | 1.0 | X | 5900 | |||||
| THOMAS GRAF | ||||||||
| DIRECTOR | 1.0 | X | ||||||
| PATRICIA MCWADE | ||||||||
| DIRECTOR | 1.0 | X | ||||||
| MICHAEL FINN | ||||||||
| EXECUTIVE VP and COO | 40.0 | X | 297817 | 16077 | ||||
| DEBRA CHROMY | ||||||||
| VP BUSINESS DEV | 40.0 | X | 256956 | 11723 | ||||
| MICHAEL RYAN | ||||||||
| VP Borrower Services | 40.0 | X | 170953 | 15884 | ||||
| Elisabeth Nietsch | ||||||||
| VP ISD and CIO | 40.0 | X | 215119 | 7151 | ||||
| SUSAN NATHAN | ||||||||
| VP LENDER AND SCHOOL | 40.0 | X | 169667 | 15894 | ||||
| SHELLEY SAUNDERS | ||||||||
| VP STRATEGIC SERVICES | 40.0 | X | 170601 | 8420 | ||||
| LAUREN ROLFE | ||||||||
| VP HUMAN RESOURCES | 40.0 | X | 162873 | 7009 | ||||
| BARBARA MATEZ | ||||||||
| VP Finance/CFO | 40.0 | X | 180239 | 15893 | ||||
| GRACE BARTINI | ||||||||
| VP OMBUDSMAN | 30.0 | X | 136709 | 2493 | ||||
| JOHN CHRISTOPHER SHEEHAN | ||||||||
| VP GENERAL COUNSEL | 40.0 | X | 178878 | 7036 | ||||
| ROBERT COLE | ||||||||
| DIRECTOR BUSINESS DEV | 40.0 | 180818 | 12847 | X | ||||
| BRIAN CURTIS | ||||||||
| DIRECTOR SYSTEMS DEV SERVICES | 40.0 | 159741 | 18735 | X | ||||
| KATHIE LARSEN | ||||||||
| DIRECTOR ISD PMO | 40.0 | 155888 | 1367 | X | ||||
| PAMA MILLER | ||||||||
| MANAGING DIR BORROWER SERVICES | 40.0 | 153870 | 5755 | X | ||||
| ROBERT MORAN | ||||||||
| MANAGING DIRECTOR SHARED TECH | 40.0 | 143981 | 15727 | X | ||||
| CHRISTOPHER RUSSO | ||||||||
| DIRECTOR OF TECHNOLOGY | 40.0 | 148018 | 14238 | X | ||||
| DEAN RANZO | ||||||||
| DIRECTOR IT ADMIN AND DESKTOP | 40.0 | 143838 | 15712 | X | ||||
| MARY BRUCE | ||||||||
| SR MANAGER DELIVERY ASSURANCE | 40.0 | 144092 | 13498 | X | ||||
| VICTOR FRANK | ||||||||
| PROJECT MANAGER | 40.0 | 147057 | 15727 | X | ||||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 3922573 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 0 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 233328 | TotalOtherCompensation |
| Number Individuals GT100 K | 117 | NumberIndividualsGT100K |
| Formers Listed | false | FormersListed |
| Total Comp GT150 K | true | TotalCompGT150K |
| Compensation From Other Sources | false | CompensationFromOtherSources |
Contractor Compensation ContractorCompensation (5 entries)
| Address Line1AddressOfContractor/AddressUS/AddressLine1 | CityAddressOfContractor/AddressUS/City | StateAddressOfContractor/AddressUS/State | ZIP CodeAddressOfContractor/AddressUS/ZIPCode | Description Of ServicesDescriptionOfServices | CompensationCompensation |
|---|---|---|---|---|---|
| EMC CORPORATION | |||||
| 4246 COLLECTION CENTER DRIVE | CHICAGO | IL | 60693 | CONSULTANTS | 222866 |
| XEROX | |||||
| PO BOX 827598 | PHILADELPHIA | PA | 19182 | COMPUTER SYS SUPPORT | 245490 |
| Siemens | |||||
| PO BOX 99076 | CHICAGO | IL | 60693 | COMPUTER SYS SUPPORT | 309394 |
| LOMBARDI SOFTWARE | |||||
| PO BOX 671248 | AUSTIN | TX | 75267 | COMPUTER SYS SUPPORT | 406454 |
| VELOCITY TECH SOLUTIONS LLC | |||||
| 850 THIRD AVENUE 11TH FLOOR | NEW YORK | NY | 100226222 | CONSULTANTS | 755807 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of Contractors GT100 K | 32 | NumberOfContractorsGT100K |
| Total Contributions | 0 | TotalContributions |
Program Service Revenue ProgramServiceRevenue (5 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome |
|---|---|---|---|
| LOAN PROCESSING AND ISSUANCE FEES | 900099 | 6402540 | 6402540 |
| ACCOUNT MAINTENANCE FEES | 900099 | 25422513 | 25422513 |
| REGULAR DEFAULT RECOVERIES | 900099 | 14764671 | 14764671 |
| CONSOLIDATED COLLECTIONS | 900099 | 12592264 | 12592264 |
| REHABILITATED COLLECTIONS | 900099 | 70977364 | 70977364 |
Total Oth Program Service Revenue TotalOthProgramServiceRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 22867188 | TotalRevenueColumn |
| Related Or Exempt Function Income | 18659818 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 4207370 | UnrelatedBusinessRevenue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 153026540 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 1812658 | TotalRevenueColumn |
| Exclusion | $1,812,658 | ExclusionAmount |
Income From Invest Bond Proceeds IncomeFromInvestBondProceeds
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Royalties Revenue RoyaltiesRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Gross Amount Sales Assets GrossAmountSalesAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 74740760 | Securities |
Less Cost Oth Basis Sales Expenses LessCostOthBasisSalesExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 76002964 | Securities |
Gain Or Loss GainOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | -1262204 | Securities |
Net Gain Or Loss Investments NetGainOrLossInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -1262204 | TotalRevenueColumn |
| Exclusion | -$1,262,204 | ExclusionAmount |
Net Income From Fundraising Events NetIncomeFromFundraisingEvents
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Net Income From Gaming NetIncomeFromGaming
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Net Income Or Loss NetIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Revenue | 0 | TotalOtherRevenue |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 153576994 | TotalRevenueColumn |
| Related Or Exempt Function Income | 148819170 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 4207370 | UnrelatedBusinessRevenue |
| Exclusion | $550,454 | ExclusionAmount |
Grants To Domestic Orgs GrantsToDomesticOrgs
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Grants To Domestic Individuals GrantsToDomesticIndividuals
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Foreign Grants ForeignGrants
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Benefits To Members BenefitsToMembers
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Comp Current Officers Directors CompCurrentOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2658131 | Total |
| Management And General | 2658131 | ManagementAndGeneral |
| Fundraising | 0 | Fundraising |
Comp Disqual Persons CompDisqualPersons
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Other Salaries And Wages OtherSalariesAndWages
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 43152748 | Total |
| Program Services | 36001032 | ProgramServices |
| Management And General | 7151716 | ManagementAndGeneral |
Pension Plan Contributions PensionPlanContributions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 7874195 | Total |
| Program Services | 4359396 | ProgramServices |
| Management And General | 3514799 | ManagementAndGeneral |
Other Employee Benefits OtherEmployeeBenefits
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 5076899 | Total |
| Program Services | 3784772 | ProgramServices |
| Management And General | 1292127 | ManagementAndGeneral |
Payroll Taxes PayrollTaxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 3647103 | Total |
| Program Services | 2994422 | ProgramServices |
| Management And General | 652681 | ManagementAndGeneral |
Fees For Services Management FeesForServicesManagement
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Fees For Services Legal FeesForServicesLegal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 260396 | Total |
| Management And General | 260396 | ManagementAndGeneral |
Fees For Services Accounting FeesForServicesAccounting
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 70815 | Total |
| Management And General | 70815 | ManagementAndGeneral |
Fees For Services Lobbying FeesForServicesLobbying
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 214020 | Total |
| Program Services | 214020 | ProgramServices |
Fees For Services Prof Fundraising FeesForServicesProfFundraising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Fees For Services Invst Mgmnt Fees FeesForServicesInvstMgmntFees
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Fees For Services Other FeesForServicesOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Advertising Advertising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 150251 | Total |
| Program Services | 113895 | ProgramServices |
| Management And General | 36356 | ManagementAndGeneral |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 3207058 | Total |
| Program Services | 2551335 | ProgramServices |
| Management And General | 655723 | ManagementAndGeneral |
Information Technology InformationTechnology
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Royalties Royalties
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Occupancy Occupancy
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 5211566 | Total |
| Program Services | 4409337 | ProgramServices |
| Management And General | 802229 | ManagementAndGeneral |
Travel Travel
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 387971 | Total |
| Program Services | 277716 | ProgramServices |
| Management And General | 110255 | ManagementAndGeneral |
Travel Entrtnmnt Public Officials TravelEntrtnmntPublicOfficials
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Conferences Meetings ConferencesMeetings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 352782 | Total |
| Program Services | 288749 | ProgramServices |
| Management And General | 64033 | ManagementAndGeneral |
Interest Interest
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Payments To Affiliates PaymentsToAffiliates
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 5254575 | Total |
| Program Services | 5254575 | ProgramServices |
Insurance Insurance
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 258122 | Total |
| Management And General | 258122 | ManagementAndGeneral |
Other Expenses OtherExpenses (5 entries)
| DescriptionDescription | TotalTotal | Program ServicesProgramServices | Management And GeneralManagementAndGeneral |
|---|---|---|---|
| COLLECTION AGENCY FEES | 34474249 | 34474249 | |
| CONSULTING AND PROFESSIONAL | 2107683 | 1235630 | 872053 |
| SERVICE CONTRACTS | 1780211 | 1574115 | 206096 |
| CONTRACTED SERVICES | 1552291 | 1146387 | 405904 |
| DUES AND SUBSCRIPTIONS | 403852 | 340200 | 63652 |
All Other Expenses AllOtherExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1417206 | Total |
| Program Services | 1088311 | ProgramServices |
| Management And General | 328895 | ManagementAndGeneral |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 119512124 | Total |
| Program Services | 100108141 | ProgramServices |
| Management And General | 19403983 | ManagementAndGeneral |
| Fundraising | 0 | Fundraising |
Savings And Temp Cash Investments SavingsAndTempCashInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 48230044 | BOY |
| EOY | 62887891 | EOY |
Accounts Receivable AccountsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 10029380 | BOY |
| EOY | 19654058 | EOY |
Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1295278 | BOY |
| EOY | 1295505 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Buildings Equipment Basis | 40906774 | LandBuildingsEquipmentBasis |
| Land Bldg Equipment Accum Deprec | 27700145 | LandBldgEquipmentAccumDeprec |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 16604804 | BOY |
| EOY | 13206629 | EOY |
Investments Pub Traded Securities InvestmentsPubTradedSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 72345506 | BOY |
| EOY | 73378241 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1000 | BOY |
| EOY | 1000 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 148506012 | BOY |
| EOY | 170423324 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 18035120 | BOY |
| EOY | 21421760 | EOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 44699727 | BOY |
| EOY | 29066372 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 62734847 | BOY |
| EOY | 50488132 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Follow SFAS117 | X | FollowSFAS117 |
Unrestricted Net Assets UnrestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 85771165 | BOY |
| EOY | 119935192 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 85771165 | BOY |
| EOY | 119935192 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 148506012 | BOY |
| EOY | 170423324 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | false | AccountantCompileOrReview |
| FS Audited | true | FSAudited |
| Audit Committee | true | AuditCommittee |
| Financial Statement Consolidated | X | FinancialStatementConsolidated |
| Federal Grant Audit Required | true | FederalGrantAuditRequired |
| Federal Grant Audit Performed | true | FederalGrantAuditPerformed |
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 | 122531770 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 149706582 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 170669173 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 93787921 | CurrentTaxYearMinus1Year |
| Current Tax Year | 148819170 | CurrentTaxYear |
| Total | 685514616 | Total |
Gross Receipts From Non UBI GrossReceiptsFromNonUBI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus1 Year | 8709 | CurrentTaxYearMinus1Year |
| Total | 8709 | Total |
Total509 Total509
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 122531770 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 149706582 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 170669173 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 93796630 | CurrentTaxYearMinus1Year |
| Current Tax Year | 148819170 | CurrentTaxYear |
| Total | 685523325 | Total |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Support Total509 | 685523325 | PublicSupportTotal509 |
Gross Investment Income509 GrossInvestmentIncome509
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 3357778 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 4489885 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 5381604 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 3357778 | CurrentTaxYearMinus1Year |
| Current Tax Year | 1812658 | CurrentTaxYear |
| Total | 18399703 | Total |
Investment Income And UBTI InvestmentIncomeAndUBTI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 3357778 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 4489885 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 5381604 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 3357778 | CurrentTaxYearMinus1Year |
| Current Tax Year | 1812658 | CurrentTaxYear |
| Total | 18399703 | Total |
Total Support Total TotalSupportTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 125889548 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 154196467 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 176050777 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 97154408 | CurrentTaxYearMinus1Year |
| Current Tax Year | 150631828 | CurrentTaxYear |
| Total | 703923028 | Total |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Support Percentage509 | 0.97386 | PublicSupportPercentage509 |
| Prior Year Support Percentage | 0.96254 | PriorYearSupportPercentage |
| Investment Income Percentage | 0.02614 | InvestmentIncomePercentage |
| Prior Yr Invest Income Percentage | 0.02513 | PriorYrInvestIncomePercentage |
| Thirty Three Percnt Tests CY509 | X | ThirtyThreePercntTestsCY509 |
Schedule C IRS990ScheduleC
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Grassroots Lobbying | TotalGrassrootsLobbying | |
| Total Direct Lobbying | TotalDirectLobbying | |
| Total Lobbying Expenditures | TotalLobbyingExpenditures | |
| Other Exempt Purpose Expenditures | OtherExemptPurposeExpenditures | |
| Total Exempt Purpose Expenditures | TotalExemptPurposeExpenditures | |
| Lobbying Nontaxable | LobbyingNontaxableAmount | |
| Grassroots Nontaxable | GrassrootsNontaxableAmount | |
| Tot Lobbying Grassroot Minus Non Tx | TotLobbyingGrassrootMinusNonTx | |
| Tot Lobby Expend Mns Lobbying Nontx | TotLobbyExpendMnsLobbyingNontx | |
| Volunteers | false | Volunteers |
| Paid Staff Or Management | true | PaidStaffOrManagement |
| Media Advertisements | false | MediaAdvertisements |
| Mailings Members | false | MailingsMembers |
| Publications Or Broadcast | true | PublicationsOrBroadcast |
| Publications Or Broadcast | $8,470 | PublicationsOrBroadcastAmount |
| Grants Other Organizations | false | GrantsOtherOrganizations |
| Direct Contact Legislators | true | DirectContactLegislators |
| Direct Contact Legislators | $24,848 | DirectContactLegislatorsAmount |
| Rallies Demonstrations | true | RalliesDemonstrations |
| Rallies Demonstrations | $6,146 | RalliesDemonstrationsAmount |
| Other Activities | true | OtherActivities |
| Other Activities | $214,020 | OtherActivitiesAmount |
| Total Lobbying Expenditures IIB | 253484 | TotalLobbyingExpendituresIIB |
| Not Described In501c3 | false | NotDescribedIn501c3 |
Form990 Schedule C Part IV Form990ScheduleCPartIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | LOBBYING ACTIVITIES | Identifier |
| Return Reference | SCHEDULE C , PART II-B, LINE 1 I | ReturnReference |
| Explanation | PART II-B, LINE 1 I REFLECTS FEES PAID TO SEVERAL PUBLIC RELATIONS/LOBBYING FIRMS ENGAGED DURING THE APPLICABLE TAX YEAR. | Explanation |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Art Public Exhibition Amts | ArtPublicExhibitionAmts | |
| Held Works Of Art Amts | HeldWorksOfArtAmts | |
| Agent Trustee Etc | false | AgentTrusteeEtc |
| Included On FS | false | IncludedOnFS |
| Land | Land | |
| Buildings | Buildings |
Leasehold Improvements LeaseholdImprovements
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 11356004 | OtherCostOrOtherBasis |
| Depreciation | 4101194 | Depreciation |
| Book Value | 7254810 | BookValue |
Equipment Equipment
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 13599735 | OtherCostOrOtherBasis |
| Depreciation | 12428703 | Depreciation |
| Book Value | 1171032 | BookValue |
Other Land Buildings OtherLandBuildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 15951035 | OtherCostOrOtherBasis |
| Depreciation | 11170248 | Depreciation |
| Book Value | 4780787 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 13206629 | TotalOfBookValueLandBuildings |
| Federal Income Tax Liability | 0 | FederalIncomeTaxLiability |
Other Liabilities OtherLiabilities (4 entries)
| DescriptionDescription | AmountAmount |
|---|---|
| PENSION | $19,668,484 |
| FASTFUND REPO | $6,523,660 |
| RESERVE FOR CONTINGENCIES | $1,724,393 |
| OTHER LIABILITIES | $1,149,835 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Amounts | 29066372 | TotalOfAmounts |
| Total Revenue | 153576994 | TotalRevenue |
| Total Expenses | 119512124 | TotalExpenses |
| Excess Or Deficit For Year | 34064870 | ExcessOrDeficitForYear |
| Net Unrealized GL On Investments | 99286 | NetUnrealizedGLOnInvestments |
| Total Adjustments | 99286 | TotalAdjustments |
| Excess Or Deficit Per FS | 34164156 | ExcessOrDeficitPerFS |
| Tot Revenue Etc Audited Fincl Stmt | 153676280 | TotRevenueEtcAuditedFinclStmt |
| Net Unrealized Gains Investments | 99286 | NetUnrealizedGainsInvestments |
| Revenue Not Rptd F990 | 99286 | RevenueNotRptdF990 |
| Revenue Subtotal | 153576994 | RevenueSubtotal |
| Total Revenue Per Form990 | 153576994 | TotalRevenuePerForm990 |
| Tot Expenses Etc Audited Fincl Stmt | 119512124 | TotExpensesEtcAuditedFinclStmt |
| Expenses Subtotal | 119512124 | ExpensesSubtotal |
| Total Expenses Per Form990 | 119512124 | TotalExpensesPerForm990 |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Compensation Committee | X | CompensationCommittee |
| Independent Consultant | X | IndependentConsultant |
| Form990 Of Other Organizations | X | Form990OfOtherOrganizations |
| Compensation Survey | X | CompensationSurvey |
| Board Or Committee Approval | X | BoardOrCommitteeApproval |
| Severance Payment | true | SeverancePayment |
| Supplemental Nonqual Retire Plan | false | SupplementalNonqualRetirePlan |
| Equity Based Comp Arrangement | false | EquityBasedCompArrangement |
| Comp Based On Revenue Of Filing Org | true | CompBasedOnRevenueOfFilingOrg |
| Comp Based On Revenue Related Orgs | false | CompBasedOnRevenueRelatedOrgs |
| Comp Based Net Earnings Filing Org | false | CompBasedNetEarningsFilingOrg |
| Comp Based Net Earnings Relate Orgs | false | CompBasedNetEarningsRelateOrgs |
| Any Non Fixed Payments | true | AnyNonFixedPayments |
| Initial Contract Exception | false | InitialContractException |
Form990 Schedule J Part II Form990ScheduleJPartII (19 entries)
| Base Compensation Filing OrgBaseCompensationFilingOrg | Comp Based On Related OrgsCompBasedOnRelatedOrgs | Bonus Related OrgsBonusRelatedOrgs | Other Compensation Filing OrgOtherCompensationFilingOrg | Other Compensation Related OrgsOtherCompensationRelatedOrgs | Deferred Comp Related OrgsDeferredCompRelatedOrgs | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrg | Nontaxable Benefits Related OrgsNontaxableBenefitsRelatedOrgs | Total Compensation Filing OrgTotalCompensationFilingOrg | Total Compensation Related OrgsTotalCompensationRelatedOrgs | Comp Report Prior990 Related OrgsCompReportPrior990RelatedOrgs | Bonus Filing OrgBonusFilingOrg |
|---|---|---|---|---|---|---|---|---|---|---|---|
| PAUL COMBE | |||||||||||
| 343706 | 0 | 0 | 8452 | 0 | 0 | 12142 | 0 | 364300 | 0 | 0 | |
| MICHAEL FINN | |||||||||||
| 263815 | 7002 | 16077 | 313894 | 27000 | |||||||
| DEBRA CHROMY | |||||||||||
| 155977 | 7868 | 11723 | 268679 | 93111 | |||||||
| MICHAEL RYAN | |||||||||||
| 165031 | 5922 | 15884 | 186837 | ||||||||
| Elisabeth Nietsch | |||||||||||
| 209197 | 5922 | 7151 | 222270 | ||||||||
| SUSAN NATHAN | |||||||||||
| 164177 | 5490 | 15894 | 185561 | ||||||||
| SHELLEY SAUNDERS | |||||||||||
| 165381 | 5220 | 8420 | 179021 | ||||||||
| LAUREN ROLFE | |||||||||||
| 156951 | 5922 | 7009 | 169882 | ||||||||
| BARBARA MATEZ | |||||||||||
| 174331 | 5908 | 15893 | 196132 | ||||||||
| ROBERT COLE | |||||||||||
| 111350 | 1151 | 12847 | 193665 | 68317 | |||||||
| BRIAN CURTIS | |||||||||||
| 155151 | 810 | 18735 | 178476 | 3780 | |||||||
| KATHIE LARSEN | |||||||||||
| 151518 | 4370 | 1367 | 157255 | ||||||||
| JOHN CHRISTOPHER SHEEHAN | |||||||||||
| 167730 | 5698 | 7036 | 185914 | 5450 | |||||||
| PAMA MILLER | |||||||||||
| 147908 | 2322 | 5755 | 159625 | 3640 | |||||||
| ROBERT MORAN | |||||||||||
| 139996 | 540 | 15727 | 159708 | 3445 | |||||||
| CHRISTOPHER RUSSO | |||||||||||
| 140670 | 444 | 14238 | 162256 | 6904 | |||||||
| DEAN RANZO | |||||||||||
| 136786 | 810 | 15712 | 159550 | 6242 | |||||||
| MARY BRUCE | |||||||||||
| 123977 | 17972 | 13498 | 157590 | 2143 | |||||||
| VICTOR FRANK | |||||||||||
| 133603 | 3171 | 15727 | 162784 | 10283 | |||||||
Form990 Schedule J Part III Form990ScheduleJPartIII (3 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| SUPPLEMENTAL COMPENSATION INFORMATION | SCHEDULE J, PART 1, LINE 5A | Business unit incentive plans are designed to support ASA's mission to assist student loan borrowers in successfully completing the financing of their post-secondary education. These plans are subject to an annual cap, are limited in number, and consist of specific measures which relate either to loan origination activities such as student loan volume and retention targets as well as client satisfaction measures, or on debt management and default prevention activities such as rehabilitation and recovery rate performance. The plans generate quantifiable FFEL program cost improvements resulting in savings to the U.S. Department of Education and/or support continued education and education financing availability |
| SUPPLEMENTAL COMPENSATION INFORMATION | SCHEDULE J, PART 1 LINE 7 | All officers and members of management participate in a special incentive award which is based upon the organization's success in achieving key milestones in support of corporate strategic objectives derived from ASA's mission. These milestones AND CRITERIA ARE IDENTIFIED IN ADVANCE AND APRROVED BY THE COMPESNATION COMMITTEE OF THE BOARD OF DIRECTORS. Recommendations based on the overall level of achievement of those corporate strategic objectives are presented to the Compensation Committee for determination of the overall award pool size as well as individual award levels,subject to an annual cap, within the pool based on individuals' relative contributions. |
| SUPPLEMENTAL COMPENSATION INFORMATION | SCHEDULE J, PART 1 LINE 4a | Severance $15,231 Mary Bruce - Terminated November 13, 2009 |
Schedule L IRS990ScheduleL
Form990 Schedule L Part IV Form990ScheduleLPartIV
Name Of Interested Person NameOfInterestedPerson
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Person | GINA LUCENTE-COLE | NamePerson |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Relationship | SPOUSE OF KEY EMPLOYEE | Relationship |
| Amount Of Transaction | 112757 | AmountOfTransaction |
| Description Of Transaction | Employment, See Schedule O | DescriptionOfTransaction |
| Sharing Of Revenues | false | SharingOfRevenues |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (7 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| REVIEW OF FORM 990 BY GOVERNING BOARD | PART VI, SECTION A, LINE 11 | The Form 990 is prepared by Grant Thornton, our national auditing and tax services firm with information provided by the Controller and Chief Financial Officer. The Form 990 is reviewed by the Controller, Vice President General Counsel, Vice President of Finance/CFO, Executive Vice President/COO and President/CEO. The fully completed Form 990 is then provided to the entire Board of Directors for review and approval before it is electronically submitted to the Internal Revenue Service. |
| CONFLICT OF INTEREST POLICY | PART VI, SECTION B, LINE 12C | Each director, principal officer or other affected individual as determined by Management, shall annually sign a statement which affirms that the person; has received a copy of the conflicts of interest policy, has read and understands the policy, and has agreed to comply with the policy. In addition, each director, principal officer and memebr of a committee with board-designed powers shall list his or her business affiliations, including memberships on boards of other non-profit institutions, and shall also disclose any business relationships that members of his or her family have or are seeking with American Student Assistance. He or she shall also update the statement as appropriate during the year. |
| COMPENSATION APPROVAL PROCESS | PART VI, SECTION B, LINE 15a & B | Compensation reviews for the top management official (President/CEO and Executive Vice President/COO) and members of senior management staff are conducted annually in the September timeframe by the Compensation Committee of the Board of Directors. Senior management staff consists of all vice presidents of the organization. Annually, an in-depth market benchmarking study is compiled for each senior staff position, including the CEO and COO, utilizing published, independent, third-party compensation surveys to compare current base salaries and total compensation with the same or similar positions in the Boston geographic area, in similar-sized organizations, primarily in the financial services, education and not-for-profit sectors. On a periodic basis, the Human Resources Department also examines Form 990 data from similar organizations and also obtains a separate compensation analysis with comparative market data from an independent compensation consultant. This comparability data is synthesized into a detailed report with the market ranges and each incumbent's position in the range and includes comparative base salary and total compensation market data. This report is presented to the President/CEO and the COO who consider the data and then present the full report along with their performance review and salary recommendations to the members of the Compensation Committee comprised of independent board members. The Compensation Committee reviews the CEO and COO's recommendations, and makes decisions regarding individual senior management merit salary increases. The CEO also reviews and makes a merit salary increase recommendation for the COO which is also presented to the Compensation Committee for their review and consideration. The Compensation Committee also uses the comparative data to review and establish the compensation of the President/CEO. Any annual incentive bonus plans, though discretionary, are also approved in advance by the Compensation Committee and any payouts are determined by the Compensation Committee based on the results of previously established goals and criteria, overall company performance,comparison to market data, and subject to an annual cap. The deliberations and decisions of the Compensation Committee are recorded contemporaneously in the meeting minutes which are recorded and preserved by the Special Assistant to the President, along with the analysis data. |
| DOCUMENT AVAILABILITY | PART VI, SECTION C, LINE 19 | The governing documents, conflict of interest policy and financial statements are available upon request. |
| Written policies for affiliate | Part VI, Section A, Line 10B | Because the single affiliate of which MHEAC is the sole owner is dormant, there are currently no written procedures applicable to the affiliate. |
| BUSINESS TRANSACTION WITH INTERESTED PERSONS | SCHEDULE L PART IV | Gina Lucente-Cole works for MHEAC as Financial Education Consultant. She is married to Robert Cole who is the Director of Business Development and a key employee. Lucente-Cole neither works for nor reports to Cole who has no authority or influence over the terms and conditions of her employment. This relationship is reported to the Board of Directors Audit Committee pursuant to our internal nepotism policy. |
| 990 part iv | line 9 | MHEAC acts as a guarantor and administrator of the Federal Family Education loan program pursuant to the Higher Education Act of 1965. Some of its activities include default prevention and student loan debt management counseling services. We do not believe this constitutes "credit counseling" as used on this form and have no information to include on Schedule D, Part IV. |
Schedule R IRS990ScheduleR
Form990 Schedule R Part IV Form990ScheduleRPartIV
Name Of Related Org NameOfRelatedOrg
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | AMERICAN STUDENT ASSISTANCE SERV INC | BusinessNameLine1 |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 100 CAMBRIDGE STREET SUITE 1600 | AddressLine1 |
| City | BOSTON | City |
| State | MA | State |
| ZIP Code | 02114 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 043073830 | EIN |
| Primary Activity | ED. ASSISTANC | PrimaryActivity |
| Legal Domicile State | MA | LegalDomicileState |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MHEAC | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Type Of Entity | C CORP | TypeOfEntity |
| Share Of Total Income | 230 | ShareOfTotalIncome |
| Share Of EOY Assets | 76694 | ShareOfEOYAssets |
| Percentage Ownership | 1.00000 | PercentageOwnership |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Ann Rents Royalties | false | ReceiptOfIntAnnRentsRoyalties |
| Gift Grant Or Cap Contr To Other Org | false | GiftGrantOrCapContrToOtherOrg |
| Gift Grant Or Cap Contr Fr Other Org | false | GiftGrantOrCapContrFrOtherOrg |
| Loans Or Guarantees To Other Org | false | LoansOrGuaranteesToOtherOrg |
| Loans Or Guarantees From Other Org | false | LoansOrGuaranteesFromOtherOrg |
| Sale Of Assets To Other Org | false | SaleOfAssetsToOtherOrg |
| Purchase Of Assets From Other Org | false | PurchaseOfAssetsFromOtherOrg |
| Exchange Of Assets | false | ExchangeOfAssets |
| Rental Of Facilities To Other Orgs | false | RentalOfFacilitiesToOtherOrgs |
| Rental Of Facilities Fr Other Orgs | false | RentalOfFacilitiesFrOtherOrgs |
| Perform Of Services For Other Orgs | false | PerformOfServicesForOtherOrgs |
| Perform Of Services By Other Orgs | false | PerformOfServicesByOtherOrgs |
| Sharing Of Facilities | false | SharingOfFacilities |
| Sharing Of Paid Employees | false | SharingOfPaidEmployees |
| Reimbursement Paid To Other Org | false | ReimbursementPaidToOtherOrg |
| Reimbursement Paid By Other Org | false | ReimbursementPaidByOtherOrg |
| Other Transfer To Other Org | true | OtherTransferToOtherOrg |
| Other Transfer From Other Org | false | OtherTransferFromOtherOrg |
Transactions Related Orgs Table TransactionsRelatedOrgsTable
Name Of Other Organization NameOfOtherOrganization
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | American Student Assistance Services Inc | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Transaction Type | q | TransactionType |
| Amount Involved | 456 | AmountInvolved |
Comments