Nebraska Student Loan Program Inc
- Assets
- $230.6m
- Revenue
- $45.5m
- Investments
- $0.0
- Employees
- 6
- Location
- Lincoln, NE
- Founding
- 10/1987
- Data as of
- 09/2022
- EIN
- 36-3514573
Organization Overview
Nebraska Student Loan Program Inc is located in Lincoln, NE. The organization was established in 1987. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. As of 09/2022, Nebraska Student Loan Program Inc employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Nebraska Student Loan Program Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 09/2022, Nebraska Student Loan Program Inc generated $45.5m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (3.7%) each year. All expenses for the organization totaled $20.0m during the year ending 09/2022. As we would expect to see with falling revenues, expenses have declined by (11.2%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO BE A DEFINITIVE VOICE IN HIGHER EDUCATION AND STUDENT SUCCESS. POISED TO ENLIGHTEN, GUIDE AND SUPPORT HIGHER EDUCATION AND ITS STAKEHOLDERS IN THEIR MISSION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION SERVES AS A GUARANTEE AGENCY UNDER THE FEDERAL FAMILY EDUCATION LOAN PROGRAM (FFELP), AS APPROVED BY THE DEPARTMENT OF EDUCATION. NSLP ALSO ASSISTS STUDENTS AND HIGHER EDUCATION INSTITUTIONS TO FACILITATE FINANCIAL AID.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Randall Scott Heesacker President & CEO | OfficerTrustee | 40 | $447,799 |
David A Macoubrie Executive VP & COO | Officer | 40 | $272,250 |
Jill M Hicks CFO | Officer | 40 | $262,584 |
Michael Jay Lubben Senior VP Business Development | Officer | 40 | $226,101 |
Susan Kay Downing Senior VP Marketing | Officer | 40 | $207,739 |
William Leonard Kohl Senior VP Portfolio Management | Officer | 40 | $198,098 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Nelnet Guarantee Services Loan Servicing | 9/29/22 | $2,216,631 |
Windham Professionals Inc Collection Services | 9/29/22 | $291,227 |
Automated Collection Services Inc Collection Services | 9/29/22 | $493,403 |
National Enterprise Systems Collection Services | 9/29/22 | $100,172 |
Gc Services Collection Services | 9/29/22 | $851,302 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $39,689,524 |
| Investment income | $4,599,509 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,164,946 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $45,453,979 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,025,363 |
| Compensation of current officers, directors, key employees. | $1,414,668 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $79,651 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $131,035 |
| Fees for services: Accounting | $86,584 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $329,552 |
| Fees for services: Other | $270,359 |
| Advertising and promotion | $40,755 |
| Office expenses | $133,968 |
| Information technology | $4,006,769 |
| Royalties | $0 |
| Occupancy | $626,796 |
| Travel | $75,338 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $70,457 |
| Interest | $0 |
| Payments to affiliates | $1,767,514 |
| Depreciation, depletion, and amortization | $500,393 |
| Insurance | $0 |
| All other expenses | $456,529 |
| Total functional expenses | $19,953,551 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,478,336 |
| Savings and temporary cash investments | $70,510,573 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,509,942 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $64,940 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $809,378 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $144,144,807 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $9,106,193 |
| Total assets | $230,624,169 |
| Accounts payable and accrued expenses | $1,589,752 |
| Grants payable | $0 |
| Deferred revenue | $193,965 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $6,091,377 |
| Total liabilities | $7,875,094 |
| Net assets without donor restrictions | $222,749,075 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $230,624,169 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Nebraska Student Loan Program Inc has recieved totaling $136,028.
| Awarding Organization | Amount |
|---|---|
Foundation For Educational Funding Lincoln, NE PURPOSE: Student Loan Guarantee | $136,028 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Alliance For Choice In Education Greenwood Village, CO | $60,249,872 | $34,038,450 |
Wichita Center For Graduate Medical Education Inc Wichita, KS | $5,382,351 | $22,892,628 |
Nebraska Student Loan Program Inc Lincoln, NE | $230,624,169 | $45,453,979 |
Kansas City Scholars Inc Kansas City, MO | $5,810,030 | $12,156,402 |
Des Moines Golf And Country Club West Des Moines, IA | $24,329,403 | $13,657,003 |
Waitt Foundation North Sioux City, SD | $157,175,219 | $6,009,824 |
Scholarship Foundation Of St Louis St Louis, MO | $49,025,721 | $11,563,775 |
Western Union Foundation Inc Denver, CO | $4,087,172 | $7,099,166 |
Rsm Us Foundation Davenport, IA | $13,920,904 | $7,669,329 |
Foundation For Educational Funding Lincoln, NE | $161,530,703 | $9,132,107 |
Western States Learning Corporation Cheyenne, WY | $7,278,085 | $6,097,150 |
Prosperity Denver Fund Denver, CO | $29,340,017 | $14,622,453 |