Iowa Student Loan Liquidity Corp
96% goes to programs Strong reserves Growing revenue
Iowa Student Loan Liquidity Corp is a 501(c)(3) organization based in Wdm, Iowa, registered in 1981, with $115,426,491 in FY2023 revenue. CharityIndex grades it A+, and it directs about 96% of spending to programs.
6805 Vista Dr, Wdm, IA, 50266 EIN 42-1137531 Since 1981
Revenue (FY2023)
$115.4M
▲ 13.8% vs prior year
Education median: $200K
Expenses (FY2023)
$108.0M
Net assets
$499.9M
Employees
87
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A+
A+Program efficiency40% of the rating96% to programs
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For Iowa Student Loan Liquidity Corp: 96% to programs earns a A+ on this criterion. See the exact thresholds →
AFinancial health25% of the rating56 mo reserves · +6% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Iowa Student Loan Liquidity Corp: 56 mo reserves · +6% margin earns a A on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Iowa Student Loan Liquidity Corp: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
ATransparency10% of the rating4 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Iowa Student Loan Liquidity Corp: 4 of 5 disclosure signals earns a A on this criterion. See the exact thresholds →
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Mission
To help iowa students and families obtain the resources necessary to succeed in postsecondary education.
Contact & location
- Address
- 6805 Vista Dr, Wdm, IA, 50266
- City
- Wdm
- State
- Iowa
- Category
- Education
- Subcategory
- Student Services & Aid
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $69.1M (FY2013) to $115.4M (FY2023) across 11 reported years.
Financial snapshot
Financial health & position (FY2023)
Liabilities $1.1BNet assets $499.9M
Operating margin
6.4%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$1.6B
Total liabilities
$1.1B
Net assets
$499.9M
Salaries & benefits
$12.1M
11% of expenses
Board members
11
6 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2023 | $115,426,491▲13.8% | $107,991,674▲4.4% | $499,937,270▲2.3% | $1,629,996,277▼6.5% | 990 |
| 2022 | $101,452,446▲100% | $103,486,049▲62.4% | $488,460,827▲0.4% | $1,743,077,766▼8.3% | 990 |
| 2021 | $50,621,901▲10.8% | $63,703,769▲4.9% | $486,710,155▼2.1% | $1,901,708,317▲54.6% | 990 |
| 2020 | $45,688,659▼29.6% | $60,719,227▼23.3% | $496,917,864▼2.2% | $1,230,053,718▼5.9% | 990 |
| 2019 | $64,909,561▼10.4% | $79,151,403▼9.4% | $508,018,066▼1.5% | $1,307,508,535▼1.9% | 990 |
| 2018 | $72,469,069▲6.9% | $87,375,106▲3.8% | $515,648,014▲0.6% | $1,332,262,692▼13.7% | 990 |
| 2017 | $67,762,446▲13.5% | $84,212,086▲10.5% | $512,825,389▲0.6% | $1,544,042,175▼5.4% | 990 |
| 2016 | $59,678,226▼3.3% | $76,208,600▲7.1% | $509,897,285▲0.7% | $1,631,488,541▲1.5% | 990 |
| 2015 | $61,713,351▼1.5% | $71,136,752▼0.8% | $506,513,239▲1.9% | $1,607,297,697▼10.7% | 990 |
| 2014 | $62,660,643▼9.3% | $71,696,747▲1.7% | $496,836,988▲1.1% | $1,800,822,531▼8.9% | 990 |
| 2013 | $69,110,846 | $70,514,129▼24.2% | $491,488,696▼0.7% | $1,975,995,101▼10.0% | 990 |
| 2012 | — | $93,030,857▼23.6% | $495,162,694▲10.7% | $2,195,691,978▼8.3% | 990 |
| 2011 | — | $121,779,146▼7.8% | $447,375,419▲61.9% | $2,395,521,113▼29.5% | 990 |
| 2010 | — | $132,090,589▼8.0% | $276,364,685▲5.0% | $3,397,541,934▼9.4% | 990 |
| 2009 | — | $143,628,773 | $263,322,019 | $3,748,101,681 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2023)
Highest-paid: Steve Mccullough — $484,788 (0.45% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Steve Mccullough | President and Ceo | 40 | $484,788 |
| Erin Lacey | Evo and Treasurer | 40 | $302,388 |
| Cindy Bartz | Cio, Proj Mgmt Svp, & Secr | 40 | $261,898 |
| Ron Forseman | Accounting & Risk Mgmt Vp | 40 | $244,215 |
| Greg Nichols | Sr. Pub Affairs & Comm Rel Vp | 40 | $224,125 |
| Marc Hendel | Sr. Researcher & Data Mgr | 40 | $212,734 |
| Marsha Boender | Dir, Lender & School Serv. | 40 | $174,132 |
| Chad Winter | Information Technology Mgr | 40 | $167,889 |
| Shawn J Smith | Lead Database Administrator | 40 | $164,682 |
| Kory Michael | Tech Serv & Operation Mgr | 40 | $154,614 |
| Christine Hensley | Board Chairperson | 1 | $20,015 |
| Daniel Clute | Board Member | 1 | $12,932 |
| Scott Schneidermann | Board Vice Chairperson | 1 | $11,727 |
| Adam Voigts | Board Member | 1 | $11,452 |
| Jim Schipper | Board Member | 1 | $11,213 |
| Julie Pingel | Board Member | 1 | $9,919 |
| Marcia Rogers | Board Member | 1 | $9,811 |
| Nancy Dunkel | Board Member | 1 | $9,799 |
| Rob Denson | Board Member | 1 | $9,191 |
| Juan Garcia | Board Member | 1 | $4,844 |
Top vendors & contractors (FY2023)
| Contractor | Services | Paid |
|---|---|---|
| Kpmg LLP | Audit & Tax Services | $401,850 |
| Ahlers & Cooney PC | Legal | $302,406 |
| Jason Glasfelder | Consulting - It | $158,920 |
| Suzanne M Buwalda | Consulting - It | $156,601 |
| Baker Tilly Us LLP | Consult & Acct Serv | $110,000 |
Grants received · $144K total
2 grants to Iowa Student Loan Liquidity Corp totaling $144K, reported by foundations on their Schedule I filings.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| Strada Education Foundation Inc | Operating grant | 2019 | $125,000 |
| Community Fdn of Greater Des Moines | Grant distribution | 2015 | $18,659 |
Grants made · $685K in FY2023
1 grant totaling $685K in FY2023. All grants made by Iowa Student Loan Liquidity Corp →
| Recipient | Purpose | Amount |
|---|---|---|
| Iowa College Access Network | General support | $685,000 |
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Frequently asked questions
- Is Iowa Student Loan Liquidity Corp a legitimate nonprofit?
- Yes. Iowa Student Loan Liquidity Corp is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 42-1137531, based in Wdm, Iowa. Donations are tax-deductible.
- What is Iowa Student Loan Liquidity Corp's EIN?
- Iowa Student Loan Liquidity Corp's Employer Identification Number (EIN) is 42-1137531.
- How much revenue does Iowa Student Loan Liquidity Corp report?
- Iowa Student Loan Liquidity Corp reported $115,426,491 in total revenue on its fiscal year 2023 IRS Form 990 filing.
- How much of Iowa Student Loan Liquidity Corp's spending goes to programs?
- Iowa Student Loan Liquidity Corp spends about 96% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Iowa Student Loan Liquidity Corp have?
- CharityIndex grades Iowa Student Loan Liquidity Corp A+, based on program efficiency and fundraising cost.
- How much does Iowa Student Loan Liquidity Corp's highest-paid employee make?
- The highest reported compensation on Iowa Student Loan Liquidity Corp's latest Form 990 is $484,788, paid to Steve Mccullough (President and Ceo).
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Data for Iowa Student Loan Liquidity Corp (EIN 42-1137531) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.