Educational Funding of the South Inc

Organization Overview

Educational Funding of the South Inc is located in Franklin, TN. The organization was established in 1987. According to its NTEE Classification (W60) the organization is classified as: Financial Institutions, under the broad grouping of Public & Societal Benefit and related organizations. As of 07/2021, Educational Funding of the South Inc employed 12 individuals. Educational Funding of the South 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 07/2021, Educational Funding of the South Inc generated $32.4m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (13.3%) each year. All expenses for the organization totaled $33.7m during the year ending 07/2021. As we would expect to see with falling revenues, expenses have declined by (12.1%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.

Since 2018, Educational Funding of the South Inc has awarded 76 individual grants totaling $641,500. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

ACQUISITION OF STUDENT LOANS, COLLEGE AND CAREER COUNSELING SERVICES, FINANCIAL LITERACY SERVICES AND NEED-BASED SCHOLARSHIPS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

ACQUISITION OF STUDENT LOANS MADE TO STUDENTS AND PARENTS PURSUANT TO TITLE IV OF THE HIGHER EDUCATION ACT OF 1965.


STUDENT OUTREACH SERVICES ARE OFFERED TO STUDENTS IN ELEMENTARY SCHOOL THROUGH HIGH SCHOOL TO PROMOTE COLLEGE AND CAREER PLANNING. FINANCIAL LITERACY PROGRAMS ARE OFFERED TO MIDDLE SCHOOLS SERVING LOW-INCOME FAMILIES IN MIDDLE TENNESSEE, HIGH SCHOOL STUDENTS IN GRADES 10-12 IN EAST, MIDDLE AND WEST TENNESSEE, AND POSTSECONDARY INSTITUTIONS IN THE TENNESSEE BOARD OF REGENTS SYSTEM.


VOLUNTEER STATE STUDENT ASSISTANCE SCHOLARSHIPS ARE OFFERED TO STUDENTS BASED ON FINANCIAL NEED IN POST SECONDARY EDUCATION AT 4 YEAR PUBLIC AND PRIVATE COLLEGES THROUGHOUT THE STATE OF TENNESSEE.


ECAMPUS TOURS


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Board, Officers & Key Employees

Name (title)Compensation
Ron Gambill
President/ceo
$781,505
Ken Mann
CFO
$183,720
Melissa Markis
Assistant VP Loan Operations
$103,174
John Mays
Director
$26,000
Mike Ragsdale
Director
$26,000
Richard Smelser
Director
$25,000

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Aes
Loan Servicing
$1,337,107
Kuder Inc
Student Outreach
$285,000
Education Loan Finance Inc
Administration
$1,977,944
Everfi Inc
Student Outreach
$279,000
Bdo Usa Llp
Audit Services
$140,396
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $203,473
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$203,473
Total Program Service Revenue$29,150,512
Investment income $1,588,852
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales -$4,748
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $32,440,997

Grants Awarded

Over the last fiscal year, Educational Funding of the South Inc has awarded $27,000 in support to 4 organizations.

Grant RecipientAmount

LIPSCOMB UNIVERSITY

Org PageRecipient Profile

Nashville, TN

PURPOSE: Scholarships

$7,000

BELMONT UNIVERSITY

Org PageRecipient Profile

Nashville, TN

PURPOSE: Scholarships

$7,000

VANDERBILT UNIVERSITY

Org PageRecipient Profile

Nashville, TN

PURPOSE: Scholarships

$7,000

UNIVERSITY OF MEMPHIS

PURPOSE: Scholarships

$6,000
View Grant Profile

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