Nebraska Student Loan Program Inc
96% goes to programs Declining revenue
Nebraska Student Loan Program Inc is a 501(c)(3) organization based in Lincoln, Nebraska, registered in 1987, with $14,989,493 in FY2023 revenue. CharityIndex grades it C, and it directs about 96% of spending to programs.
Po Box 82507, Lincoln, NE, 68501 EIN 36-3514573 Since 1987
Revenue (FY2023)
$15.0M
▼ 59.5% vs prior year
Education median: $200K
Expenses (FY2023)
$47.5M
Net assets
$21.1M
Employees
7
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
C
★★★★
Rated on 4 of 4 criteria.
Held down by its weakest criterion — a strong score on one criterion can't hide a weak one.
How the rating works →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 Nebraska Student Loan Program Inc: 96% to programs earns a A+ on this criterion. See the exact thresholds →
FFinancial health25% of the rating5 mo reserves · -217% 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 Nebraska Student Loan Program Inc: 5 mo reserves · -217% margin earns a F 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 Nebraska Student Loan Program Inc: 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 Nebraska Student Loan Program Inc: 4 of 5 disclosure signals earns a A on this criterion. See the exact thresholds →
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Mission
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.
Contact & location
- Address
- Po Box 82507, Lincoln, NE, 68501
- City
- Lincoln
- State
- Nebraska
- Category
- Education
- Subcategory
- Student Services & Aid
- Phone
- …
- Website
- …
Financial trends
Revenue declined from $70.6M (FY2013) to $15.0M (FY2023) across 11 reported years.
Financial snapshot
Financial health & position (FY2023)
Liabilities $7.7MNet assets $21.1M
Operating margin
-216.6%
Spent more than it raised in the latest fiscal year.
Total assets
$28.8M
Total liabilities
$7.7M
Net assets
$21.1M
Salaries & benefits
$613K
1% of expenses
Board members
7
6 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2023 | $14,989,493▼59.5% | $47,451,308▼78.5% | $21,105,329▼60.6% | $28,792,043▼52.1% | 990 |
| 2022 | $37,048,540▼18.5% | $220,697,432▲1006% | $53,537,570▼76.0% | $60,108,049▼73.9% | 990 |
| 2021 | $45,453,979▲81.5% | $19,953,551▼6.5% | $222,749,075▼1.3% | $230,624,169▼2.4% | 990 |
| 2020 | $25,047,310▼1.5% | $21,335,512▼25.7% | $225,706,978▲9.8% | $236,203,321▲2.2% | 990 |
| 2019 | $25,434,100▼30.1% | $28,705,497▼15.8% | $205,584,593▼2.6% | $231,049,264▼3.6% | 990 |
| 2018 | $36,382,514▼24.1% | $34,097,248▼15.8% | $210,987,841▲1.5% | $239,595,762▲0.2% | 990 |
| 2017 | $47,959,672▼21.5% | $40,483,099▼11.3% | $207,842,011▲3.9% | $239,135,718▲2.1% | 990 |
| 2016 | $61,125,472▲3.4% | $45,648,945▼0.6% | $199,997,822▲8.2% | $234,226,622▲4.8% | 990 |
| 2015 | $59,121,672▼33.4% | $45,920,368▼26.3% | $184,860,303▲7.3% | $223,521,551▲6.1% | 990 |
| 2014 | $88,792,762▲25.7% | $62,330,293▲10.8% | $172,340,379▲17.6% | $210,679,237▲14.5% | 990 |
| 2013 | $70,622,557 | $56,269,538▼12.1% | $146,557,056▲11.4% | $184,031,802▲5.9% | 990 |
| 2012 | — | $63,981,282▼12.7% | $131,561,257▲25.4% | $173,847,372▲13.0% | 990 |
| 2011 | — | $73,261,259▲41.7% | $104,882,381▲18.7% | $153,826,578▲6.9% | 990 |
| 2010 | — | $51,697,995▼16.8% | $88,370,365▲26.8% | $143,844,652▲7.1% | 990 |
| 2009 | — | $62,114,274 | $69,709,618 | $134,307,724 | 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: Randall Scott Heesacker — $476,645 (1.00% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Randall Scott Heesacker | Ceo (thru Oct 2023) | 20 | $476,645 |
| David A Macoubrie | Ceo (as of Oct 2023) | 20 | $309,380 |
| Jill M Hicks | Cfo | 20 | $301,783 |
| Michael Jay Lubben | Senior Vp Business Development | 0 | $233,364 |
| Susan Kay Downing | Senior Vp Marketing | 0 | $233,089 |
| William Leonard Kohl | Senior Vp Portfolio Management | 20 | $216,389 |
| Deana Marie Unger | Vp Operations | 0 | $49,261 |
| Richard Vierk | Chair | 0.5 | $40,550 |
| Guy Saunders | Director | 0.5 | $15,000 |
| Joseph Knecht | Director | 0.5 | $14,000 |
| Kimberly Russel | Director | 0.5 | $13,750 |
| Anthony Goins | Director | 0.5 | $10,500 |
| David Lechner | Director | 0.5 | — |
| Krista Brooke Odbert | Avp Product Development | 0 | — |
| Mark E Krings | Vp Client Services | 0 | — |
| Pamela Sue Beckmann | Sr. Director Customer Svc & Student Engagement | 0 | — |
| Shannon R Jones | Avp Business Development | 0 | — |
| Timothy Jon Roethig | Avp Contact Center Ops | 0 | — |
Top vendors & contractors (FY2023)
| Contractor | Services | Paid |
|---|---|---|
| Nelnet Guarantee Services | Loan Servicing | $1,822,660 |
| Dynamo LLC | Consulting | $220,715 |
| Brett Lief | Consulting | $188,820 |
| Keating O'gara Nedved & Peter PC | Legal Services | $157,700 |
| Cliftonlarsonallen | Audit Services | $112,090 |
Grants made · $40.0M in FY2023
1 grant totaling $40.0M in FY2023. All grants made by Nebraska Student Loan Program Inc →
| Recipient | Purpose | Amount |
|---|---|---|
| Inceptia | Cash & equity investment grant to subsidiary organization inceptia 9/30/24 | $40,008,683 |
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Frequently asked questions
- Is Nebraska Student Loan Program Inc a legitimate nonprofit?
- Yes. Nebraska Student Loan Program Inc is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 36-3514573, based in Lincoln, Nebraska. Donations are tax-deductible.
- What is Nebraska Student Loan Program Inc's EIN?
- Nebraska Student Loan Program Inc's Employer Identification Number (EIN) is 36-3514573.
- How much revenue does Nebraska Student Loan Program Inc report?
- Nebraska Student Loan Program Inc reported $14,989,493 in total revenue on its fiscal year 2023 IRS Form 990 filing.
- How much of Nebraska Student Loan Program Inc's spending goes to programs?
- Nebraska Student Loan Program Inc spends about 96% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Nebraska Student Loan Program Inc have?
- CharityIndex grades Nebraska Student Loan Program Inc C, based on program efficiency and fundraising cost.
- How much does Nebraska Student Loan Program Inc's highest-paid employee make?
- The highest reported compensation on Nebraska Student Loan Program Inc's latest Form 990 is $476,645, paid to Randall Scott Heesacker (Ceo (thru Oct 2023)).
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Data for Nebraska Student Loan Program Inc (EIN 36-3514573) 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.