Student Loan Servicing Alliance Inc

Nonprofit profile at a glance

EIN
364023700
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Alexandria, VA, USA
Phone
2029556055
Rating confidence
Limited

Official website

Reported finances

Revenue
$514,368
Expenses
$483,576
Assets
$201,752
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

11 people listed

Executive titles in this filing

  • JOE GRIECO (PRESIDENT)
  • JILL LEITL (PRESIDENT-ELECT)
  • C TAPSCOTT BUCHANAN (EXECUTIVE DIRECTOR)

Highest reported compensation

  • C TAPSCOTT BUCHANAN (EXECUTIVE DIRECTOR): $270,981 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Trade association to represent loan servicers in the federal education loan programs authorized by title iv of the higher education act of 1965, as amended, as well as lenders and servicers of private education loans, in connection with federal and state laws and regulations affecting education loans, and to promote best practices in the loan servicing industry.

What it reported doing in 2024

Developed consensus positions among approximately 40 federal and private education loan servicing organizations and partners on issues to present to the us congress, the us department of education (ed), and other federal and state agencies, including the consumer financial protection bureau (cfpb, the federal communications commission (fcc), and the department of treasury, with respect to both federal student loans and private education loans in connection with: ed negotiated rulemaking process; industry implementation guidance in connection with income-driven repayment plans and the scra; meetings with ed, cfpb, the department of treasury and the consumer data industry association (cdia) in connection with credit reporting by student loan servicers; comments in response to various requests for information/comment from the cfpb in connection with federal and private education loans, complaints on federal and private education loans, and student loan servicing; continued implementation of the dodd-frank wall street reform and consumer protection act (pl111-203); responses to requests for information from congressional staff on student loan servicing issues; analysis of legislative provisions affecting federal student loans and private education loans in connection with the reauthorization of the higher education act; comments on various ed forms for the ffelp and direct loan programs; state legislation/regulation requiring licensure of student loan servicers, including comments on legislative and regulatory proposals, meetings with state legislators and testimony before various state legislative committees; and efforts to educate legislators and regualtors on the federal preemption of state licensing and regulatory schemes with respect to federal student loans.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 60
  • Accountability: 84
  • Sustainability: 42
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 6%; rating input score 53; 53rd percentile among comparable filings
  • Total-asset coverage ratio: 0.42; rating input score 20; 20th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 91; 91st percentile among comparable filings
  • Officer compensation ratio: 56%; rating input score 1; 1st percentile among comparable filings

Growth

  • Program expense growth: 75.7% per year; rating input score 100; 98th percentile among comparable filings
  • Revenue growth: 4.6% per year; rating input score 100; 41st percentile among comparable filings
  • Asset growth: -1.2% per year; rating input score 0; 14th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 10 of 10 board members independent · 5 of 8 filing controls reported
  • Programs: 3 filed program accomplishments
  • Leadership: top reported pay $271K · 11 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 7 of 7 current checks pass
  • Schedules: 3 filed schedules · includes executive pay
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 20/100.
  • Review — Sustainability: Operating margin scored 53/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 1/100.