Nebraska Student Loan Program Inc
- Assets
- $60.1m
- Revenue
- $37.0m
- Investments
- $0.0
- Employees
- 6
- Location
- Lincoln, NE
- Founding
- 10/1987
- Data as of
- 09/2023
- 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 09/2023, 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 09/2023, Nebraska Student Loan Program Inc generated $37.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (5.7%) each year. All expenses for the organization totaled $220.7m during the year ending 09/2023. 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
2023
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 | 20 | $483,406 |
David A Macoubrie Executive VP & COO | Officer | 20 | $287,512 |
Jill M Hicks CFO | Officer | 20 | $282,478 |
Michael Jay Lubben Senior VP Business Development | Officer | 40 | $253,311 |
Susan Kay Downing Senior VP Marketing | Officer | 40 | $222,487 |
William Leonard Kohl Senior VP Portfolio Management | Officer | 20 | $207,252 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Brett Lief Consulting | 9/29/23 | $184,200 |
Nelnet Guarantee Services Loan Servicing | 9/29/23 | $1,638,698 |
Keating O'gara Nedved & Peter Pc Legal Services | 9/29/23 | $111,087 |
Gc Services Collection Services | 9/29/23 | $116,972 |
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 | $25,056,919 |
| Investment income | $8,681,908 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $3,309,713 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $37,048,540 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $202,962,628 |
| 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. | $1,447,462 |
| Compensation of current officers, directors, key employees. | $965,957 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $74,527 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $126,867 |
| Fees for services: Accounting | $93,565 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $391,695 |
| Fees for services: Other | $494,124 |
| Advertising and promotion | $83,077 |
| Office expenses | $147,336 |
| Information technology | $3,917,132 |
| Royalties | $0 |
| Occupancy | $514,177 |
| Travel | $75,351 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $98,051 |
| Interest | $0 |
| Payments to affiliates | $1,336,022 |
| Depreciation, depletion, and amortization | $1,043,631 |
| Insurance | $0 |
| All other expenses | $352,844 |
| Total functional expenses | $220,697,432 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,490,159 |
| Savings and temporary cash investments | $48,162,793 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,179,604 |
| 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 | $1,011,477 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $746,371 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,452,705 |
| Total assets | $60,108,049 |
| Accounts payable and accrued expenses | $1,090,701 |
| Grants payable | $0 |
| Deferred revenue | $123,859 |
| 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 | $5,355,919 |
| Total liabilities | $6,570,479 |
| Net assets without donor restrictions | $53,537,570 |
| 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 | $60,108,049 |
Grants Awarded
Over the last fiscal year, Nebraska Student Loan Program Inc has awarded $202,962,628 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
INCEPTIA PURPOSE: CASH GRANT TO SUBSIDIARY ORGANIZATION INCEPTIA 9/19/23 | $43,000,000 |
INCEPTIA PURPOSE: GRANT TO SUBSIDIARY ORGANIZATION INCEPTIA 9/11/23 | $41,863,037 |
INCEPTIA PURPOSE: GRANT TO SUBSIDIARY ORGANIZATION INCEPTIA 7/1/23 | $2,850,584 |
INCEPTIA PURPOSE: GRANT TO SUBSIDIARY ORGANIZATION INCEPTIA 9/7/23 | $115,249,007 |