Form990
Click to see attachment
Department of the Treasury
Internal Revenue Service
Return of Organization Exempt From Income Tax
Under section 501(c), 527, or 4947(a)(1) of the Internal Revenue Code (except private
foundations)
MediumBullet Do not enter social security numbers on this form as it may be made public.
MediumBullet Information about Form 990 and its instructions is at www.IRS.gov/form990.
OMB No. 1545-0047
2014
Open to Public Inspection
A For the 2014 calendar year, or tax year beginning 10-01-2014 , and ending 09-30-2015
BCheck if applicable:
CName of organization
UNITED STUDENT AID FUNDS INC
 
Doing business as
 
 
Number and street (or P.O. box if mail is not delivered to street address)
9998 CROSSPOINT BLVD NO 400
 
Room/suite
City or town, state or province, country, and ZIP or foreign postal code
INDIANAPOLIS, IN462563307
D Employer identification number

94-6050341
E Telephone number

G Gross receipts $ 1,111,986,125
F Name and address of principal officer:
WILLIAM HANSEN
9998 CROSSPOINT BLVD NO 400
INDIANAPOLIS,IN462563307
I
Tax-exempt status: (   ) LeftBullet (insert no.) or
J
Website:MediumBullet
WWW.USAFUNDS.ORG
H(a)
Is this a group return for
subordinates?
H(b)
Are all subordinates
included?
If "No," attach a list. (see instructions)
H(c)
Group exemption number MediumBullet  
K Form of organization:
 
L Year of formation: 1960
M State of legal domicile: DE
Part I
Summary
Activities & Governance 1 Briefly describe the organization’s mission or most significant activities: TO ENHANCE POSTSECONDARY EDUCATION PREPAREDNESS, ACCESS AND SUCCESS.
2 Check this box MediumBullet
3 Number of voting members of the governing body (Part VI, line 1a) ........ 3 12
4 Number of independent voting members of the governing body (Part VI, line 1b) ..... 4 11
5 Total number of individuals employed in calendar year 2014 (Part V, line 2a) ...... 5 192
6 Total number of volunteers (estimate if necessary) ............. 6 0
7a Total unrelated business revenue from Part VIII, column (C), line 12 ........ 7a 62,821
b Net unrelated business taxable income from Form 990-T, line 34 ......... 7b -96,736
Revenues Prior Year Current Year
8 Contributions and grants (Part VIII, line 1h) ......... 5,221 0
9 Program service revenue (Part VIII, line 2g) ......... 547,262,952 451,734,048
10 Investment income (Part VIII, column (A), lines 3, 4, and 7d ) .... 46,052,701 92,139,112
11 Other revenue (Part VIII, column (A), lines 5, 6d, 8c, 9c, 10c, and 11e) 0 0
12 Total revenue—add lines 8 through 11 (must equal Part VIII, column (A), line 12)................... 593,320,874 543,873,160
Expenses; 13 Grants and similar amounts paid (Part IX, column (A), lines 1–3 )... 24,178,386 24,583,684
14 Benefits paid to or for members (Part IX, column (A), line 4)..... 0 0
15 Salaries, other compensation, employee benefits (Part IX, column (A), lines 5–10) 29,665,932 27,105,022
16a Professional fundraising fees (Part IX, column (A), line 11e)..... 0 0
b Total fundraising expenses (Part IX, column (D), line 25) MediumBullet0    
17 Other expenses (Part IX, column (A), lines 11a–11d, 11f–24e).... 375,134,025 320,787,017
18 Total expenses. Add lines 13–17 (must equal Part IX, column (A), line 25) 428,978,343 372,475,723
19 Revenue less expenses. Subtract line 18 from line 12....... 164,342,531 171,397,437
Net Assets or Fund Balances; Beginning of Current Year End of Year
20 Total assets (Part X, line 16)............. 1,288,047,474 1,353,187,938
21 Total liabilities (Part X, line 26)............. 256,555,323 279,818,814
22 Net assets or fund balances. Subtract line 21 from line 20..... 1,031,492,151 1,073,369,124
Part II
Signature Block
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than officer) is based on all information of which preparer has any knowledge.
Sign Here
JumboBullet
Signature of officer Date
JumboBullet
Type or print name and title
Paid Preparer Use Only
Print/Type preparer's name
Preparer's signature
Date
PTIN
Firm's name MediumBullet
Firm's EIN MediumBullet
Firm's address MediumBullet



Phone no.
May the IRS discuss this return with the preparer shown above? (see instructions) ..........
For Paperwork Reduction Act Notice, see the separate instructions.
Cat. No. 11282Y Form 990 (2014)
Form 990 (2014)
Page 2
Part III
Statement of Program Service Accomplishments
Check if Schedule O contains a response or note to any line in this Part III ..............
1
Briefly describe the organization’s mission: UNITED STUDENT AID FUNDS, INC.'S MISSION IS TO ENHANCE POSTSECONDARY EDUCATION PREPAREDNESS, ACCESS AND SUCCESS BY PROVIDING AND SUPPORTING FINANCIAL AND OTHER VALUED SERVICES.
2
Did the organization undertake any significant program services during the year which were not listed on
the prior Form 990 or 990-EZ? ......................
If "Yes," describe these new services on Schedule O.
3
Did the organization cease conducting, or make significant changes in how it conducts, any program services? ............................
If "Yes," describe these changes on Schedule O.
4
Describe the organization’s program service accomplishments for each of its three largest program services, as measured by expenses. Section 501(c)(3) and 501(c)(4) organizations are required to report the amount of grants and allocations to others, the total expenses, and revenue, if any, for each program service reported.
4a (Code:   ) (Expenses $ 27,753,212 including grants of $   ) (Revenue $ 34,228,012 )
GUARANTEE SERVICES - UNITED STUDENT AID FUNDS, INC. MAINTAINS A PORTFOLIO OF OVER $51.8 BILLION IN OUTSTANDING EDUCATIONAL LOAN GUARANTEES IN ACCORDANCE WITH THE HIGHER EDUCATION ACT OF 1965, AS AMENDED.
4b (Code:   ) (Expenses $ 8,649,381 including grants of $   ) (Revenue $ 9,253,223 )
DEFAULT AVERSION - UNITED STUDENT AID FUNDS, INC. WORKED WITH BORROWERS AND SUCCESSFULLY AVERTED DEFAULTS ON OVER $18.9 BILLION OF DELINQUENT EDUCATIONAL LOANS REPORTED BY LENDERS IN THE CURRENT YEAR.
4c (Code:   ) (Expenses $ 268,811,968 including grants of $   ) (Revenue $ 347,618,685 )
COLLECTION ON DEFAULTED LOANS - UNITED STUDENT AID FUNDS, INC. SUCCESSFULLY COLLECTED OVER $1.9 BILLION ON DEFAULTED EDUCATIONAL LOANS IN THE CURRENT YEAR.
(Code:   ) (Expenses $ 34,581,067 including grants of $ 24,583,684 ) (Revenue $ 60,634,128 )
INCLUDES OTHER GUARANTOR REVENUES, AS DEFINED BY THE US HIGHER EDUCATION ACT AND ADMINISTRATIVE FEES CHARGED TO RELATED TAX EXEMPT ORGANIZATIONS.
4d Other program services (Describe in Schedule O.)
(Expenses $ 34,581,067 including grants of $ 24,583,684 ) (Revenue $ 60,634,128 )
4e Total program service expensesMediumBullet339,795,628
Form 990 (2014)
Form 990 (2014)
Page 3
Part IV
Checklist of Required Schedules
Yes
No
1
Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)? If "Yes," complete Schedule AClick to see attachment........................
1
Yes
 
2
Is the organization required to complete Schedule B, Schedule of Contributors (see instructions)? ...
2
 
No
3
Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office? If "Yes," complete Schedule C, Part IClick to see attachment..........
3
 
No
4
Section 501(c)(3) organizations. Did the organization engage in lobbying activities, or have a section 501(h) election in effect during the tax year? If "Yes," complete Schedule C, Part IIClick to see attachment........
4
Yes
 
5
Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or similar amounts as defined in Revenue Procedure 98-19? If "Yes," complete Schedule C,
Part IIIClick to see attachment............................
5
 
No
6
Did the organization maintain any donor advised funds or any similar funds or accounts for which donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts? If "Yes," complete Schedule D, Part IClick to see attachment........................
6
 
No
7
Did the organization receive or hold a conservation easement, including easements to preserve open space,
the environment, historic land areas, or historic structures? If "Yes," complete Schedule D, Part IIClick to see attachment...
7
 
No
8
Did the organization maintain collections of works of art, historical treasures, or other similar assets? If "Yes," complete Schedule D, Part III Click to see attachment....................
8
 
No
9
Did the organization report an amount in Part X, line 21 for escrow or custodial account liability; serve as a custodian for amounts not listed in Part X; or provide credit counseling, debt management, credit repair, or debt negotiation services? If "Yes," complete Schedule D, Part IVClick to see attachment..............
9
Yes
 
10
Did the organization, directly or through a related organization, hold assets in temporarily restricted endowments, permanent endowments, or quasi-endowments? If "Yes," complete Schedule D, Part VClick to see attachment......
10
 
No
11
If the organization’s answer to any of the following questions is "Yes," then complete Schedule D, Parts VI, VII, VIII, IX, or X as applicable.
a
Did the organization report an amount for land, buildings, and equipment in Part X, line 10?
If "Yes," complete Schedule D, Part VI.Click to see attachment...................
11a
Yes
 
b
Did the organization report an amount for investments—other securities in Part X, line 12 that is 5% or more of its total assets reported in Part X, line 16? If "Yes," complete Schedule D, Part VIIClick to see attachment.......
11b
Yes
 
c
Did the organization report an amount for investments—program related in Part X, line 13 that is 5% or more of its total assets reported in Part X, line 16? If "Yes," complete Schedule D, Part VIIIClick to see attachment.......
11c
 
No
d
Did the organization report an amount for other assets in Part X, line 15 that is 5% or more of its total assets reported in Part X, line 16? If "Yes," complete Schedule D, Part IXClick to see attachment............
11d
Yes
 
e
Did the organization report an amount for other liabilities in Part X, line 25? If "Yes," complete Schedule D, Part XClick to see attachment
11e
Yes
 
f
Did the organization’s separate or consolidated financial statements for the tax year include a footnote that addresses the organization’s liability for uncertain tax positions under FIN 48 (ASC 740)? If "Yes," complete Schedule D, Part XClick to see attachment.........................
11f
Yes
 
12a
Did the organization obtain separate, independent audited financial statements for the tax year?
If "Yes," complete Schedule D, Parts XI and XII Click to see attachment.................
12a
 
No
b
Was the organization included in consolidated, independent audited financial statements for the tax year? If "Yes," and if the organization answered "No" to line 12a, then completing Schedule D, Parts XI and XII is optional Click to see attachment
12b
Yes
 
13
Is the organization a school described in section 170(b)(1)(A)(ii)? If "Yes," complete Schedule E....
13
 
No
14a
Did the organization maintain an office, employees, or agents outside of the United States?.....
14a
 
No
b
Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, investment, and program service activities outside the United States, or aggregate foreign investments valued at $100,000 or more? If "Yes," complete Schedule F, Parts I and IV......... Click to see attachment
14b
Yes
 
15
Did the organization report on Part IX, column (A), line 3, more than $5,000 of grants or other assistance to or for any foreign organization? If “Yes,” complete Schedule F, Parts II and IVClick to see attachment
15
 
No
16
Did the organization report on Part IX, column (A), line 3, more than $5,000 of aggregate grants or other assistance to or for foreign individuals? If “Yes,” complete Schedule F, Parts III and IV... Click to see attachment
16
 
No
17
Did the organization report a total of more than $15,000 of expenses for professional fundraising services on Part IX, column (A), lines 6 and 11e? If "Yes," complete Schedule G, Part I (see instructions) ....
17
 
No
18
Did the organization report more than $15,000 total of fundraising event gross income and contributions on Part VIII, lines 1c and 8a? If "Yes," complete Schedule G, Part II............
18
 
No
19
Did the organization report more than $15,000 of gross income from gaming activities on Part VIII, line 9a? If "Yes," complete Schedule G, Part III...................
19
 
No
20a
Did the organization operate one or more hospital facilities? If "Yes," complete Schedule H....
20a
 
No
b
If "Yes" to line 20a, did the organization attach a copy of its audited financial statements to this return?
20b
 
 
Form 990 (2014)
Form 990 (2014)
Page 4
Part IV
Checklist of Required Schedules (continued)
21
Did the organization report more than $5,000 of grants or other assistance to any domestic organization or domestic government on Part IX, column (A), line 1? If “Yes,” complete Schedule I, Parts I and II.. Click to see attachment
21
Yes
 
22
Did the organization report more than $5,000 of grants or other assistance to or for domestic individuals on Part IX, column (A), line 2? If “Yes,” complete Schedule I, Parts I and III........ Click to see attachment
22
Yes
 
23
Did the organization answer "Yes" to Part VII, Section A, line 3, 4, or 5 about compensation of the organization’s current and former officers, directors, trustees, key employees, and highest compensated employees? If "Yes," complete Schedule J....................... Click to see attachment
23
Yes
 
24a
Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of the last day of the year, that was issued after December 31, 2002? If “Yes,” answer lines 24b through 24d and complete Schedule K. If “No,” go to line 25a................
24a
 
No
b
Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?...
24b
 
 
c
Did the organization maintain an escrow account other than a refunding escrow at any time during the year
to defease any tax-exempt bonds?......................
24c
 
 
d
Did the organization act as an "on behalf of" issuer for bonds outstanding at any time during the year?...
24d
 
 
25a
Section 501(c)(3), 501(c)(4), and 501(c)(29) organizations. Did the organization engage in an excess benefit transaction with a disqualified person during the year? If "Yes," complete Schedule L, Part I....
25a
 
No
b
Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, and that the transaction has not been reported on any of the organization’s prior Forms 990 or 990-EZ? If "Yes," complete Schedule L, Part I...................
25b
 
No
26
Did the organization report any amount on Part X, line 5, 6, or 22 for receivables from or payables to any current or former officers, directors, trustees, key employees, highest compensated employees, or disqualified persons? If "Yes," complete Schedule L, Part II................
26
 
No
27
Did the organization provide a grant or other assistance to an officer, director, trustee, key employee, substantial contributor or employee thereof, a grant selection committee member, or to a 35% controlled entity or family member of any of these persons? If "Yes," complete Schedule L, Part III.........
27
 
No
28
Was the organization a party to a business transaction with one of the following parties (see Schedule L, Part IV instructions for applicable filing thresholds, conditions, and exceptions):
a
A current or former officer, director, trustee, or key employee? If "Yes," complete Schedule L, Part IV ..........................
28a
 
No
b
A family member of a current or former officer, director, trustee, or key employee? If "Yes,"
complete Schedule L, Part IV.....................
28b
 
No
c
An entity of which a current or former officer, director, trustee, or key employee (or a family member thereof) was an officer, director, trustee, or direct or indirect owner? If "Yes," complete Schedule L, Part IV...
28c
 
No
29
Did the organization receive more than $25,000 in non-cash contributions? If "Yes," complete Schedule M..
29
 
No
30
Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions? If "Yes," complete Schedule M.............
30
 
No
31
Did the organization liquidate, terminate, or dissolve and cease operations? If "Yes," complete Schedule N,
Part I...........................
31
 
No
32
Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets? If "Yes," complete Schedule N, Part II......................
32
 
No
33
Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections 301.7701-2 and 301.7701-3? If "Yes," complete Schedule R, Part I........ Click to see attachment
33
 
No
34
Was the organization related to any tax-exempt or taxable entity? If "Yes," complete Schedule R, Part II, III, or IV, and Part V, line 1........................ Click to see attachment
34
Yes
 
35a
Did the organization have a controlled entity within the meaning of section 512(b)(13)?
35a
Yes
 
b
If ‘Yes’ to line 35a, did the organization receive any payment from or engage in any transaction with a controlled entity within the meaning of section 512(b)(13)? If "Yes," complete Schedule R, Part V, line 2... Click to see attachment
35b
Yes
 
36
Section 501(c)(3) organizations. Did the organization make any transfers to an exempt non-charitable related organization? If "Yes," complete Schedule R, Part V, line 2............. Click to see attachment
36
 
No
37
Did the organization conduct more than 5% of its activities through an entity that is not a related organization and that is treated as a partnership for federal income tax purposes? If "Yes," complete Schedule R, Part VIClick to see attachment
37
 
No
38
Did the organization complete Schedule O and provide explanations in Schedule O for Part VI, lines 11b and 19? Note. All Form 990 filers are required to complete Schedule O. ............
38
Yes
 
Form 990 (2014)
Form 990 (2014)
Page 5
Part V
Statements Regarding Other IRS Filings and Tax Compliance
Check if Schedule O contains a response or note to any line in this Part V ..............
Yes
No
1a
Enter the number reported in Box 3 of Form 1096 Enter -0- if not applicable ..
1a
94
b
Enter the number of Forms W-2G included in line 1a. Enter -0- if not applicable .
1b
0
c
Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners? ..................
1c
Yes
 
2a
Enter the number of employees reported on Form W-3, Transmittal of Wage and
Tax Statements, filed for the calendar year ending with or within the year covered by this return ..................
2a
192
b
If at least one is reported on line 2a, did the organization file all required federal employment tax returns?
Note. If the sum of lines 1a and 2a is greater than 250, you may be required to e-file (see instructions)
2b
Yes
 
3a
Did the organization have unrelated business gross income of $1,000 or more during the year?...
3a
Yes
 
b
If “Yes,” has it filed a Form 990-T for this year? If “No” to line 3b, provide an explanation in Schedule O...
3b
Yes
 
4a
At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign country (such as a bank account, securities account, or other financial account)?..........................
4a
 
No
b
If "Yes," enter the name of the foreign country: MediumBullet
See instructions for filing requirements for FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR).
5a
Was the organization a party to a prohibited tax shelter transaction at any time during the tax year?..
5a
 
No
b
Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?
5b
 
No
c
If "Yes," to line 5a or 5b, did the organization file Form 8886-T? ............
5c
 
 
6a
Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization solicit any contributions that were not tax deductible as charitable contributions?...
6a
 
No
b
If "Yes," did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible?........................
6b
 
 
7
Organizations that may receive deductible contributions under section 170(c).
a
Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payor?....................
7a
 
No
b
If "Yes," did the organization notify the donor of the value of the goods or services provided?.....
7b
 
 
c
Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282?...........................
7c
 
No
d
If "Yes," indicate the number of Forms 8282 filed during the year ....
7d
 
e
Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?............................
7e
 
No
f
Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract?..
7f
 
No
g
If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required?............................
7g
 
 
h
If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C?..........................
7h
 
 
8
Sponsoring organizations maintaining donor advised funds.
Did a donor advised fund maintained by the sponsoring organization have excess business holdings at any time during the year?.........................
8
 
 
9a
Did the sponsoring organization make any taxable distributions under section 4966?...
9a
 
 
b
Did the sponsoring organization make a distribution to a donor, donor advisor, or related person?...
9b
 
 
10
Section 501(c)(7) organizations. Enter:
a
Initiation fees and capital contributions included on Part VIII, line 12 ...
10a
 
b
Gross receipts, included on Form 990, Part VIII, line 12, for public use of club facilities
10b
 
11
Section 501(c)(12) organizations. Enter:
a
Gross income from members or shareholders .........
11a
 
b
Gross income from other sources (Do not net amounts due or paid to other sources against amounts due or received from them.) ..........
11b
 
12a
Section 4947(a)(1) non-exempt charitable trusts. Is the organization filing Form 990 in lieu of Form 1041?
12a
 
 
b
If "Yes," enter the amount of tax-exempt interest received or accrued during the year. ....................
12b
 
13
Section 501(c)(29) qualified nonprofit health insurance issuers.
a
Is the organization licensed to issue qualified health plans in more than one state?
Note. See the instructions for additional information the organization must report on Schedule O.
13a
 
 
b
Enter the amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans ....
13b
 
c
Enter the amount of reserves on hand ............
13c
 
14a
Did the organization receive any payments for indoor tanning services during the tax year?.....
14a
 
No
b
If "Yes," has it filed a Form 720 to report these payments? If "No," provide an explanation in Schedule O..
14b
 
 
Form 990 (2014)
Form 990 (2014)
Page 6
Part VI
Governance, Management, and Disclosure For each "Yes" response to lines 2 through 7b below, and for a "No" response to lines 8a, 8b, or 10b below, describe the circumstances, processes, or changes in Schedule O. See instructions.
Check if Schedule O contains a response or note to any line in this Part VI ..............
Section A. Governing Body and Management
Yes
No
1a
Enter the number of voting members of the governing body at the end of the tax year .....................
1a
12
If there are material differences in voting rights among members of the governing body, or if the governing body delegated broad authority to an executive committee or similar committee, explain in Schedule O.
b
Enter the number of voting members included in line 1a, above, who are independent ...................
1b
11
2
Did any officer, director, trustee, or key employee have a family relationship or a business relationship with any other officer, director, trustee, or key employee? .................
2
 
No
3
Did the organization delegate control over management duties customarily performed by or under the direct supervision of officers, directors or trustees, or key employees to a management company or other person? .
3
 
No
4
Did the organization make any significant changes to its governing documents since the prior Form 990 was filed? ...........................
4
Yes
 
5
Did the organization become aware during the year of a significant diversion of the organization’s assets? .
5
 
No
6
Did the organization have members or stockholders? ................
6
Yes
 
7a
Did the organization have members, stockholders, or other persons who had the power to elect or appoint one or more members of the governing body? ....................
7a
Yes
 
b
Are any governance decisions of the organization reserved to (or subject to approval by) members, stockholders, or persons other than the governing body? ...................
7b
Yes
 
8
Did the organization contemporaneously document the meetings held or written actions undertaken during the year by the following:
a
The governing body? .........................
8a
Yes
 
b
Each committee with authority to act on behalf of the governing body? ............
8b
Yes
 
9
Is there any officer, director, trustee, or key employee listed in Part VII, Section A, who cannot be reached at the organization’s mailing address? If "Yes," provide the names and addresses in Schedule O.......
9
 
No
Section B. Policies (This Section B requests information about policies not required by the Internal Revenue Code.)
Yes
No
10a
Did the organization have local chapters, branches, or affiliates? ............
10a
 
No
b
If "Yes," did the organization have written policies and procedures governing the activities of such chapters, affiliates, and branches to ensure their operations are consistent with the organization's exempt purposes?
10b
 
 
11a
Has the organization provided a complete copy of this Form 990 to all members of its governing body before filing the form? ............................
11a
Yes
 
b
Describe in Schedule O the process, if any, used by the organization to review this Form 990. .....
12a
Did the organization have a written conflict of interest policy? If "No," go to line 13.......
12a
Yes
 
b
Were officers, directors, or trustees, and key employees required to disclose annually interests that could give rise to conflicts? ..........................
12b
Yes
 
c
Did the organization regularly and consistently monitor and enforce compliance with the policy? If "Yes," describe in Schedule O how this was done.......................
12c
Yes
 
13
Did the organization have a written whistleblower policy? ...............
13
Yes
 
14
Did the organization have a written document retention and destruction policy? .........
14
Yes
 
15
Did the process for determining compensation of the following persons include a review and approval by independent persons, comparability data, and contemporaneous substantiation of the deliberation and decision?
a
The organization’s CEO, Executive Director, or top management official ...........
15a
Yes
 
b
Other officers or key employees of the organization ................
15b
Yes
 
If "Yes" to line 15a or 15b, describe the process in Schedule O (see instructions).
16a
Did the organization invest in, contribute assets to, or participate in a joint venture or similar arrangement with a taxable entity during the year? ......................
16a
 
No
b
If "Yes," did the organization follow a written policy or procedure requiring the organization to evaluate its participation in joint venture arrangements under applicable federal tax law, and take steps to safeguard the organization’s exempt status with respect to such arrangements? ............
16b
 
 
Section C. Disclosure
17
List the States with which a copy of this Form 990 is required to be filedMediumBullet
AZ , CA , IL , IN , OR
18
Section 6104 requires an organization to make its Form 1023 (or 1024 if applicable), 990, and 990-T (501(c)(3)s only) available for public inspection. Indicate how you made these available. Check all that apply.
19
Describe in Schedule O whether (and if so, how) the organization made its governing documents, conflict of interest policy, and financial statements available to the public during the tax year.
20
State the name, address, and telephone number of the person who possesses the organization's books and records:
MediumBulletDEBORAH L MCCLOUD

9998 CROSSPOINT BLVD SUITE 400
INDIANAPOLIS,IN462563307 (317) 806-1231
Form 990 (2014)
Form 990 (2014)
Page 7
Part VII
Compensation of Officers, Directors,Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors
Check if Schedule O contains a response or note to any line in this Part VII ..............
Section A. Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees
1a Complete this table for all persons required to be listed. Report compensation for the calendar year ending with or within the organization’s tax year.
RoundBullet List all of the organization’s current officers, directors, trustees (whether individuals or organizations), regardless of amount
of compensation. Enter -0- in columns (D), (E), and (F) if no compensation was paid.

RoundBullet List all of the organization’s current key employees, if any. See instructions for definition of "key employee."
RoundBullet List the organization’s five current highest compensated employees (other than an officer, director, trustee or key employee)
who received reportable compensation (Box 5 of Form W-2 and/or Box 7 of Form 1099-MISC) of more than $100,000 from the
organization and any related organizations.

RoundBullet List all of the organization’s former officers, key employees, or highest compensated employees who received more than $100,000
of reportable compensation from the organization and any related organizations.

RoundBullet List all of the organization’s former directors or trustees that received, in the capacity as a former director or trustee of the
organization, more than $10,000 of reportable compensation from the organization and any related organizations.

List persons in the following order: individual trustees or directors; institutional trustees; officers; key employees; highest
compensated employees; and former such persons.
Check this box if neither the organization nor any related organization compensated any current officer, director, or trustee.
(A)
Name and Title 		(B)
Average hours per week (list any hours for related organizations below dotted line) 		(C)
Position (do not check more than one box, unless person is both an officer and a director/trustee) 		(D)
Reportable compensation from the organization (W- 2/1099-MISC) 		(E)
Reportable compensation from related organizations (W- 2/1099-MISC) 		(F)
Estimated amount of other compensation from the organization and related organizations
Individual Trustee or Director; Institutional Trustee; OfficerInd; Key Employee; Highest compensated employee; FormerOfcrDirectorTrusteeInd;
(1) IKE BATALIS........................................................................
BOARD MEMBER
 8.00
.......................1.00 		X           65,120 0 0
(2) REV WILLIAM BEAUCHAMP........................................................................
BOARD MEMBER
 5.00
.......................2.00 		X           41,000 0 0
(3) BLAKE DEVITT........................................................................
BOARD MEMBER
 6.00
.......................1.00 		X           51,450 0 0
(4) MARSHALL GRIGSBY........................................................................
BOARD MEMBER
 6.00
.......................1.00 		X           69,218 0 0
(5) NORMAN LEFSTEIN........................................................................
BOARD MEMBER THRU 12/17/14
 5.00
.......................0.00 		X           45,921 0 0
(6) ILENE NAGEL........................................................................
BOARD MEMBER
 6.00
.......................1.00 		X           50,236 0 0
(7) WILLIAM NEALE........................................................................
BOARD MEMBER
 5.00
.......................1.00 		X           44,537 0 0
(8) ERNEST NEWBORN II........................................................................
BOARD MEMBER
 7.00
.......................1.00 		X           43,000 0 0
(9) EDWARD SCHMIDT........................................................................
BOARD MEMBER
 6.00
.......................1.00 		X           67,370 0 0
(10) ERIK MORENO........................................................................
BOARD MEMBER
 6.00
.......................1.00 		X           50,500 0 0
(11) MARLENE COULIS........................................................................
BOARD MEMBER
 5.00
.......................1.00 		X           64,236 0 0
(12) MICHAEL KING........................................................................
BOARD MEMBER
 5.00
.......................0.00 		X           0 0 0
(13) WILLIAM HANSEN........................................................................
PRESIDENT & CEO
 40.00
.......................8.00 		X   X       880,716 0 196,539
(14) STEPHEN C HAM........................................................................
EVP & CFO
 40.00
.......................4.00 		    X       420,989 0 85,629
(15) DAVID B BOODT........................................................................
EVP & GENERAL COUNSEL
 40.00
.......................4.00 		    X       381,204 0 67,456
(16) GREGORY AYERS........................................................................
SVP GS/ADMIN THRU 12/19/14
 40.00
.......................1.00 		    X       330,620 0 618,146
(17) ROBERT BALLARD........................................................................
SVP ACC/OUT THRU 12/19/14
 40.00
.......................0.00 		    X       350,154 0 682,029
Form 990 (2014)
Form 990 (2014)
Page 8
Part VII
Section A. Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees (continued)
(A)
Name and Title 		(B)
Average hours per week (list any hours for related organizations below dotted line) 		(C)
Position (do not check more than one box, unless person is both an officer and a director/trustee) 		(D)
Reportable compensation from the organization (W- 2/1099-MISC) 		(E)
Reportable compensation from related organizations (W- 2/1099-MISC) 		(F)
Estimated amount of other compensation from the organization and related organizations
Individual Trustee or Director; Institutional Trustee; OfficerInd; Key Employee; Highest compensated employee; FormerOfcrDirectorTrusteeInd;
(18) CAROL D'AMICO........................................................................
EVP NAT ENG & MISS ADV
 40.00
.......................3.00 		    X       344,402 0 40,230
(19) MARK PELESH........................................................................
EVP CORP & BUS DEV
 40.00
.......................3.00 		    X       394,149 0 63,048
(20) LARRY LUTZ........................................................................
SVP STUDENT FIN PROG
 40.00
.......................2.00 		    X       325,494 0 40,071
(21) CRAIG P ANDERSON........................................................................
SVP BUS DEV
 40.00
.......................0.00 		    X       286,659 0 28,858
(22) DEBORAH MCCLOUD........................................................................
VP & CONTROLLER
 30.00
.......................5.00 		      X     183,688 0 50,187
(23) LEONARD GURIN........................................................................
VP CASH & INVESTMENTS
 40.00
.......................0.00 		      X     194,398 0 52,014
(24) JONI M ANDERSON........................................................................
VP & SR CORP COUNSEL
 30.00
.......................10.00 		        X   202,840 0 47,652
(25) KAREN L DEVILLA........................................................................
SENIOR PROGRAM OFFICER
 20.00
.......................20.00 		        X   187,435 0 212,057
(26) HENRY L FERNANDEZ........................................................................
SENIOR PROGRAM OFFICER
 40.00
.......................0.00 		        X   214,784 0 140,645
(27) DAVID C LONG........................................................................
VP OF SALES
 40.00
.......................0.00 		        X   213,740 0 52,134
(28) MILAN D TESANOVICH........................................................................
BUSINESS DEVELOPMENT
 40.00
.......................0.00 		        X   190,144 0 51,898
(29) CARL DALSTROM........................................................................
FORMER PRESIDENT & CEO
 0.00
.......................0.00 		          X 274,881 0 0
(30) DENISE B FESER........................................................................
FORMER VP SSS
 0.00
.......................0.00 		          X 629,071 0 1,559
(31) TERRY MUILENBURG........................................................................
FORMER SVP GOV'T RELATIONS
 0.00
.......................0.00 		          X 871,873 0 42,617
1b Sub-Total................MediumBullet
c Total from continuation sheets to Part VII, Section A....MediumBullet
d Total (add lines 1b and 1c)............MediumBullet 7,469,829 0 2,472,769
2
Total number of individuals (including but not limited to those listed above) who received more than $100,000 of reportable compensation from the organizationMediumBullet69
Yes
No
3
Did the organization list any former officer, director or trustee, key employee, or highest compensated employee on line 1a? If "Yes," complete Schedule J for such individual ..............
3
Yes
 
4
For any individual listed on line 1a, is the sum of reportable compensation and other compensation from the organization and related organizations greater than $150,000? If "Yes," complete Schedule J for such individual...........................
4
Yes
 
5
Did any person listed on line 1a receive or accrue compensation from any unrelated organization or individual for services rendered to the organization? If "Yes," complete Schedule J for such person ........
5
 
No
Section B. Independent Contractors
1
Complete this table for your five highest compensated independent contractors that received more than $100,000 of compensation from the organization. Report compensation for the calendar year ending with or within the organization’s tax year.
(A)
Name and business address 		(B)
Description of services 		(C)
Compensation
NAVIENT

11100 USA PARKWAY
FISHERS,IN46038 		GUARANTOR SERVICES 336,776,126
LANDMARK MEDIA ENTERPRISES LLC

150 WEST BRAMBLETON AVENUE
NORFOLK,VA235102075 		DATA HOSTING 661,315
ERNST & YOUNG

111 MONUMENT CIR 4000
INDIANAPOLIS,IN46204 		ACCOUNTING & AUDIT SERVICES 391,000
MORGAN LEWIS & BOCKIUS LLP

1800 M STREET NW
WASHINGTON,DC200365869 		LEGAL FEES 377,750
KELLY SERVICES INC

1212 SOLUTIONS CENTER
CHICAGO,IL606771002 		CONTRACTOR SERVICES 375,907
2
Total number of independent contractors (including but not limited to those listed above) who received more than $100,000 of compensation from the organization MediumBullet27
Form 990 (2014)
Form 990 (2014)
Page 9
Part VIII
Statement of Revenue
Check if Schedule O contains a response or note to any line in this Part VIII .............
(A)
Total revenue 		(B)
Related or
exempt
function
revenue 		(C)
Unrelated
business
revenue 		(D)
Revenue
excluded from
tax under sections
512-514
Contributions, Gifts, GrantAmt and OtherAmt Similar Amounts 1a Federated campaigns..1a  
b Membership dues....1b  
c Fundraising events....1c  
d Related organizations...1d  
e Government grants (contributions)1e  
f All other contributions, gifts, grants, and
similar amounts not included above1f 		 
g Noncash contributions included in lines
1a-1f:$ 		 
h Total. Add lines 1a-1f.......MediumBullet  
Program Service RevenueAmt Business Code
2a COLLECTIONS ON DEFAULT 611710 347,618,685 347,618,685    
b GUARANTEE SERVICES 611710 34,228,012 34,228,012    
c DEFAULT AVERSION FEES 611710 9,253,223 9,253,223    
d
e
f All other program service revenue . 60,634,128 60,634,128    
g Total. Add lines 2a–2f........MediumBullet 451,734,048
OtherAmt RevenueAmt 3 Investment income (including dividends, interest, and other similar amounts).......MediumBullet 19,509,671   62,821 19,446,850
4 Income from investment of tax-exempt bond proceeds..MediumBullet        
5 Royalties...........MediumBullet        
(i) Real (ii) Personal
6a Gross rents    
b Less: rental expenses    
c Rental income or (loss)    
d Net rental income or (loss).......MediumBullet        
(i) Securities (ii) Other
7a Gross amount from sales of assets other than inventory 620,825,050 19,917,356
b Less: cost or other basis and sales expenses 568,112,965 0
c Gain or (loss) 52,712,085 19,917,356
d Net gain or (loss)..........MediumBullet 72,629,441     72,629,441
8a Gross income from fundraising events (not including
$  
of contributions reported on line 1c). See Part IV, line 18 ..
a  
b Less: direct expenses ...b  
c Net income or (loss) from fundraising events..MediumBullet      
9a Gross income from gaming activities.
See Part IV, line 19 ...
a  
b Less: direct expenses ...b  
c Net income or (loss) from gaming activities...MediumBullet        
10a Gross sales of inventory, less
returns and allowances .
a  
b Less: cost of goods sold ..b  
c Net income or (loss) from sales of inventory..MediumBullet        
Miscellaneous Revenue Business Code
11a            
b            
c            
d All other revenue ....        
e Total. Add lines 11a–11d ...... MediumBullet  
12 Total revenue. See Instructions......MediumBullet 543,873,160 451,734,048 62,821 92,076,291
Form 990 (2014)
Form 990 (2014)
Page 10
Part IX
Statement of Functional Expenses
Section 501(c)(3) and 501(c)(4) organizations must complete all columns. All other organizations must complete column (A).Check if Schedule O contains a response or note to any line in this Part IX ...............
Do not include amounts reported on lines 6b,
7b, 8b, 9b, and 10b of Part VIII. 		(A)
Total expenses 		(B)
Program service expenses 		(C)
Management and general expenses 		(D)
Fundraising expenses
1 Grants and other assistance to domestic organizations and domestic governments. See Part IV, line 21 .... 24,333,684 24,333,684
2 Grants and other assistance to domestic individuals. See Part IV, line 22 .... 250,000 250,000
3 Grants and other assistance to foreign organizations, foreign governments, and foreign individuals. See Part IV, lines 15 and 16 ............    
4 Benefits paid to or for members ....    
5 Compensation of current officers, directors, trustees, and key employees .... 5,381,012   5,381,012  
6 Compensation not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B) ....        
7 Other salaries and wages .... 15,795,518 4,666,349 11,129,169  
8 Pension plan accruals and contributions (include section 401(k) and 403(b) employer contributions) .... 501,080 144,569 356,511  
9 Other employee benefits ....... 4,294,635 1,239,066 3,055,569  
10 Payroll taxes ........... 1,132,777 299,872 832,905  
11 Fees for services (non-employees):        
a Management ......        
b Legal ......... 1,348,111 467,726 880,385  
c Accounting ........... 431,940   431,940  
d Lobbying ........... 174,006   174,006  
e Professional fundraising services. See Part IV, line 17    
f Investment management fees ...... 1,514,394   1,514,394  
g Other (If line 11g amount exceeds 10% of line 25, column (A) amount, list line 11g expenses on Schedule O) .... 5,298,243 1,765,928 3,532,315  
12 Advertising and promotion .... 419,656 112,291 307,365  
13 Office expenses ....... 83,585 23,075 60,510  
14 Information technology ...... 2,111,900 597,516 1,514,384  
15 Royalties ..        
16 Occupancy ........... 1,155,423   1,155,423  
17 Travel ............ 1,105,589 143,121 962,468  
18 Payments of travel or entertainment expenses for any federal, state, or local public officials ......        
19 Conferences, conventions, and meetings .... 577,704 64,930 512,774  
20 Interest ........... 2,866   2,866  
21 Payments to affiliates .......        
22 Depreciation, depletion, and amortization ..... 361,679   361,679  
23 Insurance .............. 407,360   407,360  
24 Other expenses. Itemize expenses not covered above (List miscellaneous expenses in line 24e. If line 24e amount exceeds 10% of line 25, column (A) amount, list line 24e expenses on Schedule O.)
a COLLECTION EXPENSE 246,811,968 246,811,968 0 0
b ACCT. MAINT. & ISSUANCE 27,753,212 27,753,212 0 0
c CONTINGENT EXPENSE 22,000,000 22,000,000 0 0
d DEFAULT AVERSION FEES 8,649,381 8,649,381 0 0
e All other expenses 580,000 472,940 107,060  
25 Total functional expenses. Add lines 1 through 24e 372,475,723 339,795,628 32,680,095 0
26 Joint costs. Complete this line only if the organization reported in column (B) joint costs from a combined educational campaign and fundraising solicitation. Check here MediumBullet if following SOP 98-2 (ASC 958-720).        
Form 990 (2014)
Form 990 (2014)
Page 11
Part X Balance Sheet Check if Schedule O contains a response or note to any line in this Part X ..............
(A)
Beginning of year 		(B)
End of year
Assets 1 Cash–non-interest-bearing .............   1  
2 Savings and temporary cash investments ......... 31,158,138 2 7,806,557
3 Pledges and grants receivable, net ...........   3  
4 Accounts receivable, net ............. 47,349,328 4 45,984,082
5 Loans and other receivables from current and former officers, directors, trustees, key employees, and highest compensated employees. Complete Part II of
Schedule L ..................
  5  
6 Loans and other receivables from other disqualified persons (as defined under section 4958(f)(1)), persons described in section 4958(c)(3)(B), and contributing employers and sponsoring organizations of section 501(c)(9) voluntary employees' beneficiary organizations (see instructions) Complete Part II of Schedule L
  6  
7 Notes and loans receivable, net .............   7  
8 Inventories for sale or use ..............   8  
9 Prepaid expenses and deferred charges .......... 23,568,794 9 18,559,075
10a Land, buildings, and equipment: cost or other basis. Complete Part VI of Schedule D 10a 3,417,992
b Less: accumulated depreciation ..... 10b 2,602,213 921,189 10c 815,779
11 Investments—publicly traded securities .......... 485,381,213 11 401,955,917
12 Investments—other securities. See Part IV, line 11 ..... 471,022,131 12 626,310,782
13 Investments—program-related. See Part IV, line 11 .....   13  
14 Intangible assets ...............   14  
15 Other assets. See Part IV, line 11 ........... 228,646,681 15 251,755,746
16 Total assets. Add lines 1 through 15 (must equal line 34)...... 1,288,047,474 16 1,353,187,938
Liabilities 17 Accounts payable and accrued expenses ......... 57,178,942 17 81,725,590
18 Grants payable ................. 14,326,760 18 18,997,064
19 Deferred revenue ................ 27,881,459 19 22,097,448
20 Tax-exempt bond liabilities .............   20  
21 Escrow or custodial account liability. Complete Part IV of Schedule D.. 157,168,162 21 129,998,712
22 Loans and other payables to current and former officers, directors, trustees, key employees, highest compensated employees, and disqualified
persons. Complete Part II of Schedule L..........   22  
23 Secured mortgages and notes payable to unrelated third parties ..   23  
24 Unsecured notes and loans payable to unrelated third parties ....   24  
25 Other liabilities (including federal income tax, payables to related third parties, and other liabilities not included on lines 17-24). Complete Part X of Schedule D.................... 0 25 27,000,000
26 Total liabilities. Add lines 17 through 25......... 256,555,323 26 279,818,814
Net Assets or Fund Balance Organizations that follow SFAS 117 (ASC 958), check here MediumBullet and complete lines 27 through 29, and lines 33 and 34.
27 Unrestricted net assets .............. 1,031,492,151 27 1,073,369,124
28 Temporarily restricted net assets ...........   28 0
29 Permanently restricted net assets ...........   29 0
Organizations that do not follow SFAS 117 (ASC 958), check here MediumBullet and complete lines 30 through 34.
30 Capital stock or trust principal, or current funds ........   30  
31 Paid-in or capital surplus, or land, building or equipment fund .....   31  
32 Retained earnings, endowment, accumulated income, or other funds   32  
33 Total net assets or fund balances ........... 1,031,492,151 33 1,073,369,124
34 Total liabilities and net assets/fund balances ........ 1,288,047,474 34 1,353,187,938
Form 990 (2014)
Form 990 (2014)
Page 12
Part XI
Reconcilliation of Net Assets
Check if Schedule O contains a response or note to any line in this Part XI ..............
1
Total revenue (must equal Part VIII, column (A), line 12) ............
1
543,873,160
2
Total expenses (must equal Part IX, column (A), line 25) ............
2
372,475,723
3
Revenue less expenses. Subtract line 2 from line 1 ..............
3
171,397,437
4
Net assets or fund balances at beginning of year (must equal Part X, line 33, column (A)) ..
4
1,031,492,151
5
Net unrealized gains (losses) on investments ...............
5
-122,997,587
6
Donated services and use of facilities .................
6
 
7
Investment expenses .....................
7
 
8
Prior period adjustments .....................
8
 
9
Other changes in net assets or fund balances (explain in Schedule O) ........
9
-6,522,877
10
Net assets or fund balances at end of year. Combine lines 3 through 9 (must equal Part X, line 33, column (B))
10
1,073,369,124
Part XII
Financial Statements and Reporting
Check if Schedule O contains a response or note to any line in this Part XII .............
Yes
No
1
Accounting method used to prepare the Form 990:  
If the organization changed its method of accounting from a prior year or checked "Other," explain in
Schedule O.
2a
Were the organization’s financial statements compiled or reviewed by an independent accountant?
2a
 
No
If ‘Yes,’ check a box below to indicate whether the financial statements for the year were compiled or reviewed on a separate basis, consolidated basis, or both:
b
Were the organization’s financial statements audited by an independent accountant?
2b
Yes
 
If ‘Yes,’ check a box below to indicate whether the financial statements for the year were audited on a separate basis, consolidated basis, or both:
c
If "Yes," to line 2a or 2b, does the organization have a committee that assumes responsibility for oversight of the audit, review, or compilation of its financial statements and selection of an independent accountant?
2c
Yes
 
If the organization changed either its oversight process or selection process during the tax year, explain in Schedule O.
3a
As a result of a federal award, was the organization required to undergo an audit or audits as set forth in the Single Audit Act and OMB Circular A-133? .................
3a
Yes
 
b
If "Yes," did the organization undergo the required audit or audits? If the organization did not undergo the required audit or audits, explain why in Schedule O and describe any steps taken to undergo such audits.
3b
Yes
 
Form 990 (2014)
Form 990 (2014)
Page 13
Form 990, Special Condition Description:
Special Condition Description
Form 990 (2014)
Form 990 (2014)
Page 14
Additional Data


Software ID:  
Software Version:  
SCHEDULE A
(Form 990 or 990EZ)

Department of the Treasury
Internal Revenue Service
Public Charity Status and Public Support
Complete if the organization is a section 501(c)(3) organization or a section 4947(a)(1) nonexempt charitable trust.
right arrow Attach to Form 990 or Form 990-EZ.
right arrow Information about Schedule A (Form 990 or 990-EZ) and its instructions is at www.irs.gov/form990.
OMB No. 1545-0047
2014
Open to Public
Inspection
Name of the organization
UNITED STUDENT AID FUNDS INC
 
Employer identification number

94-6050341
Part I
Reason for Public Charity Status (All organizations must complete this part.) See instructions.
The organization is not a private foundation because it is: (For lines 1 through 11, check only one box.)
1
2
3
4
5
section 170(b)(1)(A)(iv). (Complete Part II.)
6
7
8
9
receipts from activities related to its exempt functions—subject to certain exceptions, and (2) no more than 331/3% of
its support from gross investment income and unrelated business taxable income (less section 511 tax) from businesses
acquired by the organization after June 30, 1975. See section 509(a)(2). (Complete Part III.)
10
11
a
b
c
d
e
f
Enter the number of supported organizations .............................  
g
Provide the following information about the supported organization(s).
(i)Name of supported organization (ii) EIN (iii) Type of organization (described on lines 1- 9 above or IRC section (see instructions)) (iv) Is the organization listed in your governing document? (v) Amount of monetary support (see instructions) (vi) Amount of other support (see instructions)
Yes No
Total    

For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990EZ.
Cat. No. 11285F
Schedule A (Form 990 or 990-EZ) 2014
Schedule A (Form 990 or 990-EZ) 2014
Page 2
Part II
Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi)
(Complete only if you checked the box on line 5, 7, or 8 of Part I or if the organization failed to qualify under Part III. If the organization fails to qualify under the tests listed below, please complete Part III.)
Section A. Public Support
Calendar year (or fiscal year beginning in) right arrow (a) 2010 (b) 2011 (c) 2012 (d) 2013 (e) 2014 (f) Total
1 Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grants.") ....            
2 Tax revenues levied for the organization's benefit and either paid to or expended on its behalf.......            
3 The value of services or facilities furnished by a governmental unit to the organization without charge..            
4 Total. Add lines 1 through 3            
5 The portion of total contributions by each person (other than a governmental unit or publicly supported organization) included on line 1 that exceeds 2% of the amount shown on line 11, column (f)..  
6 Public support. Subtract line 5 from line 4.  
Section B. Total Support
Calendar year (or fiscal year beginning in) right arrow (a) 2010 (b) 2011 (c) 2012 (d) 2013 (e) 2014 (f) Total
7 Amounts from line 4..            
8 Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources...            
9 Net income from unrelated business activities, whether or not the business is regularly carried on..            
10 Other income. Do not include gain or loss from the sale of capital assets (Explain in Part VI.)..            
11 Total support Add lines 7 through 10.  
12
12
 
13
First five years. If the Form 990 is for the organization's first, second, third, fourth, or fifth tax year as a section 501(c)(3) organization, check this box and stop here........................................right arrow
Section C. Computation of Public Support Percentage
14
14
 
15
15
 
16a
b
17a
b
18
Private foundation. If the organization did not check a box on line 13, 16a, 16b, 17a, or 17b, check this box and see
instructions ..................................................... right arrow
Schedule A (Form 990 or 990-EZ) 2014
Schedule A (Form 990 or 990-EZ) 2014
Page 3
Part III
Support Schedule for Organizations Described in Section 509(a)(2)
(Complete only if you checked the box on line 9 of Part I or if the organization failed to qualify under Part II. If the organization fails to qualify under the tests listed below, please complete Part II.)
Section A. Public Support
Calendar year (or fiscal year beginning in) right arrow (a) 2010 (b) 2011 (c) 2012 (d) 2013 (e) 2014 (f) Total
1 Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grants.") .     147,909 5,221   153,130
2 Gross receipts from admissions, merchandise sold or services performed, or facilities furnished in any activity that is related to the organization's tax-exempt purpose...... 392,137,408 419,207,130 496,160,542 547,262,952 451,734,048 2,306,502,080
3 Gross receipts from activities that are not an unrelated trade or business under section 513..            
4 Tax revenues levied for the organization's benefit and either paid to or expended on its behalf...            
5 The value of services or facilities furnished by a governmental unit to the organization without charge..            
6 Total. Add lines 1 through 5. 392,137,408 419,207,130 496,308,451 547,268,173 451,734,048 2,306,655,210
7a Amounts included on lines 1, 2, and 3 received from disqualified persons...     125,000     125,000
b Amounts included on lines 2 and 3 received from other than disqualified persons that exceed the greater of $5,000 or 1% of the amount on line 13 for the year.           0
c Add lines 7a and 7b..     125,000     125,000
8 Public support (Subtract line 7c from line 6.) 2,306,530,210
Section B. Total Support
Calendar year (or fiscal year beginning in) right arrow (a) 2010 (b) 2011 (c) 2012 (d) 2013 (e) 2014 (f) Total
9 Amounts from line 6... 392,137,408 419,207,130 496,308,451 547,268,173 451,734,048 2,306,655,210
10a Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources.. 14,372,724 15,931,613 17,783,084 17,729,082 19,446,850 85,263,353
b Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975.            
c Add lines 10a and 10b. 14,372,724 15,931,613 17,783,084 17,729,082 19,446,850 85,263,353
11 Net income from unrelated business activities not included in line 10b, whether or not the business is regularly carried on.         44,477 44,477
12 Other income. Do not include gain or loss from the sale of capital assets (Explain in Part VI.) ..            
13 Total support. (Add lines 9, 10c, 11, and 12.).. 406,510,132 435,138,743 514,091,535 564,997,255 471,225,375 2,391,963,040
14
Section C. Computation of Public Support Percentage
15
15
96.430 %
16
16
96.730 %
Section D. Computation of Investment Income Percentage
17
17
3.560 %
18
18
3.260 %
19a
b
20
Schedule A (Form 990 or 990-EZ) 2014
Schedule A (Form 990 or 990-EZ) 2014
Page 4
Part IV
Supporting Organizations
(Complete only if you checked a box on line 11 of Part I. If you checked 11a of Part I, complete Sections A and B. If you checked 11b of Part I, complete Sections A and C. If you checked 11c of Part I, complete Sections A, D, and E. If you checked 11d of Part I, complete Sections A and D, and complete Part V.)
Section A. All Supporting Organizations
Yes
No
1
Are all of the organization’s supported organizations listed by name in the organization’s governing documents?
If "No," describe in Part VI how the supported organizations are designated. If designated by class or purpose,
describe the designation. If historic and continuing relationship, explain.
1
 
 
2
Did the organization have any supported organization that does not have an IRS determination of status under section 509(a)(1) or (2)? If "Yes," explain in Part VI how the organization determined that the supported organization was described in section 509(a)(1) or (2).
2
 
 
3a
Did the organization have a supported organization described in section 501(c)(4), (5), or (6)? If "Yes," answer (b) and (c) below.
3a
 
 
b
Did the organization confirm that each supported organization qualified under section 501(c)(4), (5), or (6) and satisfied the public support tests under section 509(a)(2)? If "Yes," describe in Part VI when and how the organization made the determination.
3b
 
 
c
Did the organization ensure that all support to such organizations was used exclusively for section 170(c)(2)(B) purposes? If "Yes," explain in Part VI what controls the organization put in place to ensure such use.
3c
 
 
4a
Was any supported organization not organized in the United States ("foreign supported organization")? If “Yes” and if you checked 11a or 11b in Part I, answer (b) and (c) below.
4a
 
 
b
Did the organization have ultimate control and discretion in deciding whether to make grants to the foreign supported organization? If “Yes,” describe in Part VI how the organization had such control and discretion despite being controlled or supervised by or in connection with its supported organizations....
4b
 
 
c
Did the organization support any foreign supported organization that does not have an IRS determination under sections 501(c)(3) and 509(a)(1) or (2)? If “Yes,” explain in Part VI what controls the organization used to ensure that all support to the foreign supported organization was used exclusively for section 170(c)(2)(B) purposes.
4c
 
 
5a
Did the organization add, substitute, or remove any supported organizations during the tax year? If “Yes,” answer (b) and (c) below (if applicable). Also, provide detail in Part VI, including (i) the names and EIN numbers of the supported organizations added, substituted, or removed, (ii) the reasons for each such action, (iii) the authority under the organization's organizing document authorizing such action, and (iv) how the action was accomplished (such as by amendment to the organizing document).
5a
 
 
b
Type I or Type II only. Was any added or substituted supported organization part of a class already designated in the organization's organizing document?
5b
 
 
c
Substitutions only. Was the substitution the result of an event beyond the organization's control?
5c
 
 
6
Did the organization provide support (whether in the form of grants or the provision of services or facilities) to anyone other than (a) its supported organizations; (b) individuals that are part of the charitable class benefited by one or more of its supported organizations; or (c) other supporting organizations that also support or benefit one or more of the filing organization’s supported organizations? If “Yes,” provide detail in Part VI.
6
 
 
7
Did the organization provide a grant, loan, compensation, or other similar payment to a substantial contributor (defined in IRC 4958(c)(3)(C)), a family member of a substantial contributor, or a 35-percent controlled entity with regard to a substantial contributor? If “Yes,” complete Part I of Schedule L (Form 990) .
7
 
 
8
Did the organization make a loan to a disqualified person (as defined in section 4958) not described in line 7? If “Yes,” complete Part II of Schedule L (Form 990).
8
 
 
9a
Was the organization controlled directly or indirectly at any time during the tax year by one or more disqualified persons as defined in section 4946 (other than foundation managers and organizations described in section 509(a)(1) or (2))? If “Yes,” provide detail in Part VI.
9a
 
 
b
Did one or more disqualified persons (as defined in line 9(a)) hold a controlling interest in any entity in which the supporting organization had an interest? If “Yes,” provide detail in Part VI.
9b
 
 
c
Did a disqualified person (as defined in line 9(a)) have an ownership interest in, or derive any personal benefit from, assets in which the supporting organization also had an interest? If “Yes,” provide detail in Part VI.
9c
 
 
10a
Was the organization subject to the excess business holdings rules of IRC 4943 because of IRC 4943(f) (regarding certain Type II supporting organizations, and all Type III non-functionally integrated supporting organizations)? If “Yes,” answer b below.
10a
 
 
b
Did the organization have any excess business holdings in the tax year? (Use Schedule C, Form 4720, to determine whether the organization had excess business holdings).
10b
 
 
11
Has the organization accepted a gift or contribution from any of the following persons?
a
A person who directly or indirectly controls, either alone or together with persons described in (b) and (c) below, the governing body of a supported organization?
11a
 
 
b
A family member of a person described in (a) above?
11b
 
 
c
A 35% controlled entity of a person described in (a) or (b) above? If “Yes” to a, b, or c, provide detail in Part VI.
11c
 
 
Schedule A (Form 990 or 990-EZ) 2014
Schedule A (Form 990 or 990-EZ) 2014
Page 5
Part IV
Supporting Organizations (continued)

Section B. Type I Supporting Organizations
Yes
No
1
Did the directors, trustees, or membership of one or more supported organizations have the power to regularly appoint or elect at least a majority of the organization’s directors or trustees at all times during the tax year? If “No,” describe in Part VI how the supported organization(s) effectively operated, supervised, or controlled the organization’s activities. If the organization had more than one supported organization, describe how the powers to appoint and/or remove directors or trustees were allocated among the supported organizations and what conditions or restrictions, if any, applied to such powers during the tax year.
1
 
 
2
Did the organization operate for the benefit of any supported organization other than the supported organization(s) that operated, supervised, or controlled the supporting organization? If “Yes,” explain in Part VI how providing such benefit carried out the purposes of the supported organization(s) that operated, supervised or controlled the supporting organization.
2
 
 
Section C. Type II Supporting Organizations
Yes
No
1
Were a majority of the organization’s directors or trustees during the tax year also a majority of the directors or trustees of each of the organization’s supported organization(s)? If “No,” describe in Part VI how control or management of the supporting organization was vested in the same persons that controlled or managed the supported organization(s).
1
 
 
Section D. All Type III Supporting Organizations
Yes
No
1
Did the organization provide to each of its supported organizations, by the last day of the fifth month of the organization’s tax year, (1) a written notice describing the type and amount of support provided during the prior tax year, (2) a copy of the Form 990 that was most recently filed as of the date of notification, and (3) copies of the organization’s governing documents in effect on the date of notification, to the extent not previously provided?
1
 
 
2
Were any of the organization’s officers, directors, or trustees either (i) appointed or elected by the supported organization(s) or (ii) serving on the governing body of a supported organization? If "No," explain in Part VI how the organization maintained a close and continuous working relationship with the supported organization(s).
2
 
 
3
By reason of the relationship described in (2), did the organization’s supported organizations have a significant voice in the organization’s investment policies and in directing the use of the organization’s income or assets at all times during the tax year? If "Yes," describe in Part VI the role the organization’s supported organizations played in this regard.
3
 
 
Section E. Type III Functionally-Integrated Supporting Organizations
1
Check the box next to the method that the organization used to satisfy the Integral Part Test during the year (see instructions):
a
b
c
2
Activities Test. Answer (a) and (b) below.
Yes
No
a
Did substantially all of the organization’s activities during the tax year directly further the exempt purposes of the supported organization(s) to which the organization was responsive? If "Yes," then in Part VI identify those supported organizations and explain how these activities directly furthered their exempt purposes, how the organization was responsive to those supported organizations, and how the organization determined that these activities constituted substantially all of its activities.
2a
 
 
b
Did the activities described in (a) constitute activities that, but for the organization’s involvement, one or more of the organization’s supported organization(s) would have been engaged in? If "Yes," explain in Part VI the reasons for the organization’s position that its supported organization(s) would have engaged in these activities but for the organization’s involvement.
2b
 
 
3
Parent of Supported Organizations. Answer (a) and (b) below.
a
Did the organization have the power to regularly appoint or elect a majority of the officers, directors, or trustees of each of the supported organizations? Provide details in Part VI.
3a
 
 
b
Did the organization exercise a substantial degree of direction over the policies, programs and activities of each of its supported organizations? If "Yes," describe in Part VI the role played by the organization in this regard.
3b
 
 
Schedule A (Form 990 or 990-EZ) 2014
Schedule A (Form 990 or 990-EZ) 2014
Page 6
Part V – Type III Non-Functionally Integrated 509(a)(3) Supporting Organizations

1.   Check here if the organization satisfied the Integral Part Test as a qualifying trust on Nov. 20, 1970. See instructions. All other Type III non-functionally integrated supporting organizations must complete Sections A through E.
Section A - Adjusted Net Income (A) Prior Year (B) Current Year
(optional)
1 Net short-term capital gain 1    
2 Recoveries of prior-year distributions 2    
3 Other gross income (see instructions) 3    
4 Add lines 1 through 3 4    
5 Depreciation and depletion 5    
6 Portion of operating expenses paid or incurred for production or collection of gross income or for management, conservation, or maintenance of property held for production of income (see instructions) 6    
7 Other expenses (see instructions) 7    
8 Adjusted Net Income (subtract lines 5, 6 and 7 from line 4) 8    

Section B - Minimum Asset Amount (A) Prior Year (B) Current Year
(optional)
1 Aggregate fair market value of all non-exempt-use assets (see instructions for short tax year or assets held for part of year): 1
a Average monthly value of securities 1a    
b Average monthly cash balances 1b    
c Fair market value of other non-exempt-use assets 1c    
d Total (add lines 1a, 1b, and 1c) 1d    
e Discount claimed for blockage or other factors (explain in detail in Part VI):  
2 Acquisition indebtedness applicable to non-exempt use assets 2    
3 Subtract line 2 from line 1d 3    
4 Cash deemed held for exempt use. Enter 1-1/2% of line 3 (for greater amount, see instructions). 4    
5 Net value of non-exempt-use assets (subtract line 4 from line 3) 5    
6 Multiply line 5 by .035 6    
7 Recoveries of prior-year distributions 7    
8 Minimum Asset Amount (add line 7 to line 6) 8    

Section C - Distributable Amount Current Year
1 Adjusted net income for prior year (from Section A, line 8, Column A) 1  
2 Enter 85% of line 1 2  
3 Minimum asset amount for prior year (from Section B, line 8, Column A) 3  
4 Enter greater of line 2 or line 3 4  
5 Income tax imposed in prior year 5  
6 Distributable Amount. Subtract line 5 from line 4, unless subject to emergency temporary reduction (see instructions) 6  
7   Check here if the current year is the organization's first as a non-functionally-integrated Type III supporting organization (see instructions)
Schedule A (Form 990 or 990-EZ) 2014
Schedule A (Form 990 or 990-EZ) 2014
Page 7
Section D - Distributions Current Year
1 Amounts paid to supported organizations to accomplish exempt purposes  
2 Amounts paid to perform activity that directly furthers exempt purposes of supported organizations, in
excess of income from activity		  
3 Administrative expenses paid to accomplish exempt purposes of supported organizations  
4 Amounts paid to acquire exempt-use assets  
5 Qualified set-aside amounts (prior IRS approval required)  
6 Other distributions (describe in Part VI). See instructions  
7Total annual distributions. Add lines 1 through 6.  
8 Distributions to attentive supported organizations to which the organization is responsive (provide
details in Part VI). See instructions		  
9 Distributable amount for 2014 from Section C, line 6  
10 Line 8 amount divided by Line 9 amount  

Section E - Distribution Allocations (see instructions) (i)
Excess Distributions 		(ii)
Underdistributions
Pre-2014 		(iii)
Distributable
Amount for 2014
1 Distributable amount for 2014 from Section C, line
6 		 
2 Underdistributions, if any, for years prior to 2014
(reasonable cause required--see instructions)		  
3 Excess distributions carryover, if any, to 2014:
a From 2009.......X
b From 2010.......X
c From 2011.......X
d From 2012.......X
e From 2013.......  
fTotal of lines 3a through e  
g Applied to underdistributions of prior years  
h Applied to 2014 distributable amount  
i Carryover from 2009 not applied (see
instructions)
j Remainder. Subtract lines 3g, 3h, and 3i from 3f.  
4Distributions for 2014 from Section D, line 7:
$  
a Applied to underdistributions of prior years  
b Applied to 2014 distributable amount  
c Remainder. Subtract lines 4a and 4b from 4.  
5 Remaining underdistributions for years prior to
2014, if any. Subtract lines 3g and 4a from line 2
(if amount greater than zero, see instructions)		  
6 Remaining underdistributions for 2014. Subtract
lines 3h and 4b from line 1 (if amount greater than
zero, see instructions)		  
7 Excess distributions carryover to 2015. Add lines
3j and 4c.		  
8 Breakdown of line 7:
a From 2010.......X
b From 2011.......X
c From 2012.......X
d From 2013.......  
e From 2014.......  
Schedule A (Form 990 or 990-EZ) (2014)
Schedule A (Form 990 or 990-EZ) 2014
Page 8
Part VI
Supplemental Information. Provide the explanations required by Part II, line 10; Part II, line 17a or 17b; Part III, line 12; Part IV, Section A, lines 1, 2, 3b, 3c, 4b, 4c, 5a, 6, 9a, 9b, 9c, 11a, 11b, and 11c; Part IV, Section B, lines 1 and 2; Part IV, Section C, line 1; Part IV, Section D, lines 2 and 3; Part IV, Section E, lines 1c, 2a, 2b, 3a and 3b; Part V, line 1; Part V, Section B, line 1e; Part V Section D, lines 5, 6, and 8; and Part V, Section E, lines 2, 5, and 6. Also complete this part for any additional information. (See instructions).
Facts And Circumstances Test
 
Return Reference Explanation
Schedule A (Form 990 or 990-EZ) 2014

Additional Data


Software ID:  
Software Version:  
SCHEDULE C
(Form 990 or 990-EZ)

Department of the Treasury
Internal Revenue Service
Political Campaign and Lobbying Activities

For Organizations Exempt From Income Tax Under section 501(c) and section 527
SchCMd Bullet Complete if the organization is described below.SchCMd Bullet Attach to Form 990 or Form 990-EZ.
SchCMd Bullet Information about Schedule C (Form 990 or 990-EZ) and its instructions is at www.irs.gov/form990.
OMB No. 1545-0047
2014
Open to Public
Inspection
If the organization answered "Yes" to Form 990, Part IV, Line 3, or Form 990-EZ, Part V, line 46 (Political Campaign Activities), then
Round Bullet Section 501(c)(3) organizations: Complete Parts I-A and B. Do not complete Part I-C.
Round Bullet Section 501(c) (other than section 501(c)(3)) organizations: Complete Parts I-A and C below. Do not complete Part I-B.
Round Bullet Section 527 organizations: Complete Part I-A only.
If the organization answered "Yes" to Form 990, Part IV, Line 4, or Form 990-EZ, Part VI, line 47 (Lobbying Activities), then
Round Bullet Section 501(c)(3) organizations that have filed Form 5768 (election under section 501(h)): Complete Part II-A. Do not complete Part II-B.
Round Bullet Section 501(c)(3) organizations that have NOT filed Form 5768 (election under section 501(h)): Complete Part II-B. Do not complete Part II-A.
If the organization answered "Yes" to Form 990, Part IV, Line 5 (Proxy Tax) (see separate instructions) or Form 990-EZ, Part V, line 35c (Proxy Tax) (see separate instructions), then
Round Bullet Section 501(c)(4), (5), or (6) organizations: Complete Part III.
Name of the organization
UNITED STUDENT AID FUNDS INC
 
Employer identification number

94-6050341
Part I-A
Complete if the organization is exempt under section 501(c) or is a section 527 organization.

1
Provide a description of the organization’s direct and indirect political campaign activities in Part IV.
2
Political expenditures ....................................SchCMd Bullet
$ 0
3
Volunteer hours ........................................
 

Part I-B
Complete if the organization is exempt under section 501(c)(3).
1
Enter the amount of any excise tax incurred by the organization under section 4955 .........SchCMd Bullet
$ 0
2
Enter the amount of any excise tax incurred by organization managers under section 4955 ......SchCMd Bullet
$ 0
3
If the organization incurred a section 4955 tax, did it file Form 4720 for this year? ..............
4a
Was a correction made? .........................................
b
If "Yes," describe in Part IV.
Part I-C
Complete if the organization is exempt under section 501(c), except section 501(c)(3).
1
Enter the amount directly expended by the filing organization for section 527 exempt function activities SchCMd Bullet
$  
2
Enter the amount of the filing organization's funds contributed to other organizations for section 527 exempt function activities ...................................SchCMd Bullet

$  
3
Total exempt function expenditures. Add lines 1 and 2. Enter here and on Form 1120-POL, line 17b..SchCMd Bullet

$  
4
Did the filing organization file Form 1120-POL for this year? ..........................
5
Enter the names, addresses and employer identification number (EIN) of all section 527 political organizations to which the filing
organization made payments. For each organization listed, enter the amount paid from the filing organization’s funds. Also enter the amount of political contributions received that were promptly and directly delivered to a separate political organization, such as a separate segregated fund or a political action committee (PAC). If additional space is needed, provide information in Part IV.
(a) Name (b) Address (c) EIN (d) Amount paid from filing organization's funds. If none, enter -0-. (e) Amount of political contributions received and promptly and directly delivered to a separate political organization. If none, enter -0-.










For Paperwork Reduction Act Notice, see the instructions for Form 990 or 990-EZ.
Cat. No. 50084S
Schedule C (Form 990 or 990-EZ) 2014

Schedule C (Form 990 or 990-EZ) 2014
Page 2
Part II-A
Complete if the organization is exempt under section 501(c)(3) and filed Form 5768 (election under section 501(h)).
A Check SchCMd Bulletexpenses, and share of excess lobbying expenditures).
B Check SchCMd Bullet
Limits on Lobbying Expenditures
(The term "expenditures" means amounts paid or incurred.) 		(a) Filing
organization's
totals 		(b) Affiliated group
totals
1a Total lobbying expenditures to influence public opinion (grass roots lobbying) ......    
b Total lobbying expenditures to influence a legislative body (direct lobbying) .......    
c Total lobbying expenditures (add lines 1a and 1b) ...................    
d Other exempt purpose expenditures ........................    
e Total exempt purpose expenditures (add lines 1c and 1d) ...............    
f Lobbying nontaxable amount. Enter the amount from the following table in both
columns.		    
If the amount on line 1e, column (a) or (b) is:The lobbying nontaxable amount is:
Not over $500,00020% of the amount on line 1e.
Over $500,000 but not over $1,000,000$100,000 plus 15% of the excess over $500,000.
Over $1,000,000 but not over $1,500,000$175,000 plus 10% of the excess over $1,000,000.
Over $1,500,000 but not over $17,000,000$225,000 plus 5% of the excess over $1,500,000.
Over $17,000,000$1,000,000.
g Grassroots nontaxable amount (enter 25% of line 1f) .................    
h Subtract line 1g from line 1a. If zero or less, enter -0-. ................    
i Subtract line 1f from line 1c. If zero or less, enter -0-. ................    
j If there is an amount other than zero on either line 1h or line 1i, did the organization file Form 4720 reporting
section 4911 tax for this year? ......................................

4-Year Averaging Period Under section 501(h)
(Some organizations that made a section 501(h) election do not have to complete all of the five
columns below. See the separate instructions for lines 2a through 2f.)
Lobbying Expenditures During 4-Year Averaging Period
Calendar year (or fiscal year
beginning in) 		(a) 2011 (b) 2012 (c) 2013 (d) 2014 (e) Total
2a Lobbying nontaxable amount          
b Lobbying ceiling amount
(150% of line 2a, column(e)) 		 
c Total lobbying expenditures          
d Grassroots nontaxable amount          
e Grassroots ceiling amount
(150% of line 2d, column (e))		  
f Grassroots lobbying expenditures          
Schedule C (Form 990 or 990-EZ) 2014


Schedule C (Form 990 or 990-EZ) 2014
Page 3
Part II-B
Complete if the organization is exempt under section 501(c)(3) and has NOT filed Form 5768 (election under section 501(h)).
For each "Yes" response to lines 1a through 1i below, provide in Part IV a detailed description of the lobbying activity.
(a)
No
Yes
(b)
Amount
1
During the year, did the filing organization attempt to influence foreign, national, state or local legislation, including any attempt to influence public opinion on a legislative matter or referendum, through the use of:
a
Volunteers? .........................................
 
No
b
Paid staff or management (include compensation in expenses reported on lines 1c through 1i)? ....
Yes
 
c
Media advertisements? ....................................
 
No
 
d
Mailings to members, legislators, or the public? .........................
 
No
 
e
Publications, or published or broadcast statements? .......................
 
No
 
f
Grants to other organizations for lobbying purposes? .......................
 
No
 
g
Direct contact with legislators, their staffs, government officials, or a legislative body? ........
Yes
 
136,083
h
Rallies, demonstrations, seminars, conventions, speeches, lectures, or any similar means? ......
 
No
 
i
Other activities? ..........................
Yes
 
40,000
j
Total. Add lines 1c through 1i ...............................
176,083
2a
Did the activities in line 1 cause the organization to be not described in section 501(c)(3)? .....
 
No
b
If "Yes," enter the amount of any tax incurred under section 4912 .................
 
c
If "Yes," enter the amount of any tax incurred by organization managers under section 4912 .....
 
d
If the filing organization incurred a section 4912 tax, did it file Form 4720 for this year? .......
 
 
Part III-A
Complete if the organization is exempt under section 501(c)(4), section 501(c)(5), or section 501(c)(6).
Yes
No
1
Were substantially all (90% or more) dues received nondeductible by members? ................
1
 
 
2
Did the organization make only in-house lobbying expenditures of $2,000 or less? ................
2
 
 
3
Did the organization agree to carry over lobbying and political expenditures from the prior year? ..........
3
 
 
Part III-B
Complete if the organization is exempt under section 501(c)(4), section 501(c)(5), or section 501(c)(6) and if either (a) BOTH Part III-A, lines 1 and 2, are answered "No" OR (b) Part III-A, line 3, is answered “Yes."
1
Dues, assessments and similar amounts from members .....................
1
 
2
Section 162(e) nondeductible lobbying and political expenditures (do not include amounts of political
expenses for which the section 527(f) tax was paid).
a
Current year .........................................
2a
 
b
Carryover from last year ....................................
2b
 
c
Total ............................................
2c
 
3
Aggregate amount reported in section 6033(e)(1)(A) notices of nondeductible section 162(e) dues .
3
 
4
If notices were sent and the amount on line 2c exceeds the amount on line 3, what portion of the excess does the organization agree to carryover to the reasonable estimate of nondeductible lobbying and political expenditure next year? ................................
4
 
5
Taxable amount of lobbying and political expenditures (see instructions) ..............
5
 
Part IV
Supplemental Information
Provide the descriptions required for Part l-A, line 1; Part l-B, line 4; Part l-C, line 5; Part II-A (affiliated group list); Part II-A, lines 1 and 2 (see instructions), and Part ll-B, line 1. Also, complete this part for any additional information.
Return Reference Explanation
PART II-B, LINE 1: UNITED STUDENT AID FUNDS, INC. PAYS DUES TO THE UNITED STATES CHAMBER OF COMMERCE - A PORTION OF WHICH IS ALLOCABLE TO LOBBYING ACTIVITIES.
Schedule C (Form 990 or 990EZ) 2014

Additional Data


Software ID:  
Software Version:  

SCHEDULE D
(Form 990)
Department of the Treasury
Internal Revenue Service
Supplemental Financial Statements
SchDMd Bullet Complete if the organization answered "Yes," to Form 990,
Part IV, line 6, 7, 8, 9, 10, 11a, 11b, 11c, 11d, 11e, 11f, 12a, or 12b.
SchDMd Bullet Attach to Form 990.
Information about Schedule D (Form 990) and its instructions is at www.irs.gov/form990.
OMB No. 1545-0047
2014
Open to Public Inspection
Name of the organization
UNITED STUDENT AID FUNDS INC
 
Employer identification number

94-6050341
Part I
Organizations Maintaining Donor Advised Funds or Other Similar Funds or Accounts. Complete if the organization answered "Yes" to Form 990, Part IV, line 6.
(a) Donor advised funds (b) Funds and other accounts
1 Total number at end of year .........    
2 Aggregate value of contributions to (during year)    
3 Aggregate value of grants from (during year)    
4 Aggregate value at end of year ........    
5
Did the organization inform all donors and donor advisors in writing that the assets held in donor advised
funds are the organization's property, subject to the organization's exclusive legal control? ............
6
Did the organization inform all grantees, donors, and donor advisors in writing that grant funds can be
used only for charitable purposes and not for the benefit of the donor or donor advisor, or for any other purpose conferring impermissible private benefit? ...................................
Part II
Conservation Easements. Complete if the organization answered "Yes" to Form 990, Part IV, line 7.
1
Purpose(s) of conservation easements held by the organization (check all that apply).
2
Complete lines 2a through 2d if the organization held a qualified conservation contribution in the form of a conservation easement on the last day of the tax year.
Held at the End of the Year
a Total number of conservation easements ....................... 2a  
b Total acreage restricted by conservation easements .................. 2b  
c Number of conservation easements on a certified historic structure included in (a) ..... 2c  
d Number of conservation easements included in (c) acquired after 8/17/06, and not on a historic structure listed in the National Register .................... 2d  
3
Number of conservation easements modified, transferred, released, extinguished, or terminated by the organization during
the tax year SchDMd Bullet  
4
Number of states where property subject to conservation easement is located SchDMd Bullet  
5
Does the organization have a written policy regarding the periodic monitoring, inspection, handling of violations, and
enforcement of the conservation easements it holds? .............................
6
Staff and volunteer hours devoted to monitoring, inspecting, and enforcing conservation easements during the year
SchDMd Bullet  
7
Amount of expenses incurred in monitoring, inspecting, and enforcing conservation easements during the year
SchDMd Bullet $  
8
Does each conservation easement reported on line 2(d) above satisfy the requirements of section 170(h)(4)(B)(i) and section 170(h)(4)(B)(ii)? .......................................
9
In Part XIII, describe how the organization reports conservation easements in its revenue and expense statement, and
balance sheet, and include, if applicable, the text of the footnote to the organization’s financial statements that describes
the organization’s accounting for conservation easements.
Part III
Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets.
Complete if the organization answered "Yes" to Form 990, Part IV, line 8.
1a
If the organization elected, as permitted under SFAS 116 (ASC 958), not to report in its revenue statement and balance sheet works of art, historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service, provide, in Part XIII, the text of the footnote to its financial statements that describes these items.
b
If the organization elected, as permitted under SFAS 116 (ASC 958), to report in its revenue statement and balance sheet works of art, historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service, provide the following amounts relating to these items:
(i)
Revenue included in Form 990, Part VIII, line 1 ........................SchDMd Bullet $  
(ii)
Assets included in Form 990, Part X ..............................SchDMd Bullet $  
2
If the organization received or held works of art, historical treasures, or other similar assets for financial gain, provide the
following amounts required to be reported under SFAS 116 (ASC 958) relating to these items:
a
Revenue included in Form 990, Part VIII, line 1 ..........................SchDMd Bullet $  
b
Assets included in Form 990, Part X ...............................SchDMd Bullet $  
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 52283D
Schedule D (Form 990) 2014

Schedule D (Form 990) 2014
Page 2
Part III
Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets (continued)
3
Using the organization’s acquisition, accession, and other records, check any of the following that are a significant use of its collection items (check all that apply):
a
d
b
e
 
c
4
Provide a description of the organization’s collections and explain how they further the organization’s exempt purpose in
Part XIII.
5
During the year, did the organization solicit or receive donations of art, historical treasures or other similar
assets to be sold to raise funds rather than to be maintained as part of the organization’s collection?........
Part IV
Escrow and Custodial Arrangements. Complete if the organization answered "Yes" to Form 990,
Part IV, line 9, or reported an amount on Form 990, Part X, line 21.
1a
Is the organization an agent, trustee, custodian or other intermediary for contributions or other assets not
included on Form 990, Part X? ....................................
b
If "Yes," explain the arrangement in Part XIII and complete the following table:
Amount
c Beginning balance ................................. 1c  
d Additions during the year .............................. 1d  
e Distributions during the year ............................. 1e  
f Ending balance ................................... 1f  
2a
Did the organization include an amount on Form 990, Part X, line 21, for escrow or custodial account liability?
b
If "Yes," explain the arrangement in Part XIII. Check here if the explanation has been provided in Part XIII .......
Part V
Endowment Funds. Complete if the organization answered "Yes" to Form 990, Part IV, line 10.
(a)Current year (b)Prior year b (c)Two years back (d)Three years back (e)Four years back
1a Beginning of year balance ....          
b Contributions ........          
c Net investment earnings, gains, and losses          
d Grants or scholarships .....          
e Other expenditures for facilities
and programs ........ 		         
f Administrative expenses ....          
g End of year balance ......          
2
Provide the estimated percentage of the current year end balance (line 1g, column (a)) held as:
a
Board designated or quasi-endowment SchDMd Bullet  
b
Permanent endowment SchDMd Bullet  
c
Temporarily restricted endowment SchDMd Bullet  
The percentages in lines 2a, 2b, and 2c should equal 100%.
3a
Are there endowment funds not in the possession of the organization that are held and administered for the
organization by:

Yes
No
(i) unrelated organizations ........................
3a(i)
 
 
(ii) related organizations ........................
3a(ii)
 
 
b
If "Yes" to 3a(ii), are the related organizations listed as required on Schedule R? .........
3b
 
 
4
Describe in Part XIII the intended uses of the organization's endowment funds.
Part VI
Land, Buildings, and Equipment. Complete if the organization answered 'Yes' to Form 990, Part IV, line 11a. See Form 990, Part X, line 10.
Description of property (a) Cost or other basis (investment) (b)Cost or other basis (other) (c) Accumulated depreciation (d) Book value
1a Land .................      
b Buildings ................        
c Leasehold improvements ............   230,230 156,196 74,034
d Equipment ................   2,210,318 1,606,597 603,721
e Other .................   977,444 839,420 138,024
Total. Add lines 1a through 1e. (Column (d) must equal Form 990, Part X, column (B), line 10(c).).......SchDMdBullet 815,779
Schedule D (Form 990) 2014

Schedule D (Form 990) 2014
Page 3
Part VII
Investments—Other Securities. Complete if the organization answered 'Yes' to Form 990, Part IV, line 11b. See Form 990, Part X, line 12.
(a) Description of security or category
(including name of security)		 (b)Book value (c) Method of valuation:
Cost or end-of-year market value
(1)Financial derivatives    
(2)Closely-held equity interests    
(3)Other
(A) FIXED INCOME: CORPORATE BONDS 		154,171,228 F

(B) FIXED INCOME: ASSET-BACKED SECURITIES 		46,802,414 F

(C) FIXED INCOME: MUNICIPAL BONDS 		45,164,167 F

(D) DIRECT INVESTMENTS 		11,034,770 F

(E) HEDGE FUNDS - EQUITY 		88,093,307 F

(F) HEDGE FUNDS - FIXED INCOME 		32,776,403 F

(G) LIMITED LIABILITY CORPORATIONS - EQUITY 		91,036,492 F

(H) LIMITED LIABILITY CORPORATIONS - FIXED INCOME 		40,405,017 F

(I) LIMITED LIABILITY PARTNERSHIPS - EQUITY 		50,734,405 F

(J) LIMITED LIABILITY PARTNERSHIPS - FIXED INCOME 		22,908,747 F

(K) PRIVATE EQUITIES 		28,882,908 F

(L) POOLED SEPARATE ACCOUNTS 		14,300,924 F
Total. (Column (b) must equal Form 990, Part X, col. (B) line 12.)Small Bullet 626,310,782
Part VIII
Investments—Program Related. Complete if the organization answered 'Yes' to Form 990, Part IV, line 11c. See Form 990, Part X, line 13.
(a) Description of investment (b) Book value (c) Method of valuation:
Cost or end-of-year market value








Total. (Column (b) must equal Form 990, Part X, col.(B) line 13.)Small Bullet  
Part IX
Other Assets. Complete if the organization answered 'Yes' to Form 990, Part IV, line 11d. See Form 990, Part X, line 15.
(a) Description (b) Book value
(1) RECEIVABLE FROM FED FUND 114,195,299
(2) ASSETS HELD ON BEHALF OF FED RESERVE 129,998,712
(3) DUE FROM AFFILIATES 2,516,332
(4) DEFAULTED LOANS PURCHASED 45,403
(5) INSURANCE RECEIVABLE 5,000,000




Total. (Column (b) must equal Form 990, Part X, col.(B) line 15.)...........Small Bullet 251,755,746
Part X
Other Liabilities. Complete if the organization answered 'Yes' to Form 990, Part IV, line 11e or 11f. See Form 990, Part X, line 25.
1.(a) Description of liability (b) Book value
Federal income taxes  
RESERVE FOR CONTINGENT LIABILITY 27,000,000








Total. (Column (b) must equal Form 990, Part X, col.(B) line 25.)Small Bullet 27,000,000
2. Liability for uncertain tax positions. In Part XIII, provide the text of the footnote to the organization's financial statements that reports the organization's liability for uncertain tax positions under FIN 48 (ASC 740). Check here if the text of the footnote has been provided in Part XIII
Schedule D (Form 990) 2014

Schedule D (Form 990) 2014
Page 4
Part XI Reconciliation of Revenue per Audited Financial Statements With Revenue per Return Complete if the organization answered 'Yes' to Form 990, Part IV, line 12a.
1 Total revenue, gains, and other support per audited financial statements ....... 1  
2 Amounts included on line 1 but not on Form 990, Part VIII, line 12:
a Net unrealized gains (losses) on investments .... 2a  
b Donated services and use of facilities ......... 2b  
c Recoveries of prior year grants ........... 2c  
d Other (Describe in Part XIII.) ............ 2d  
e Add lines 2a through 2d ..................... 2e  
3 Subtract line 2e from line 1..................... 3  
4 Amounts included on Form 990, Part VIII, line 12, but not on line 1:
a Investment expenses not included on Form 990, Part VIII, line 7b . 4a  
b Other (Describe in Part XIII.) ........... 4b  
c Add lines 4a and 4b....................... 4c  
5 Total revenue. Add lines 3 and 4c. (This must equal Form 990, Part I, line 12.) ...... 5  
Part XII Reconciliation of Expenses per Audited Financial Statements With Expenses per Return. Complete if the organization answered 'Yes' to Form 990, Part IV, line 12a.
1 Total expenses and losses per audited financial statements ........... 1  
2 Amounts included on line 1 but not on Form 990, Part IX, line 25:
a Donated services and use of facilities .......... 2a  
b Prior year adjustments .............. 2b  
c Other losses ................ 2c  
d Other (Describe in Part XIII.) ............ 2d  
e Add lines 2a through 2d...................... 2e  
3 Subtract line 2e from line 1..................... 3  
4 Amounts included on Form 990, Part IX, line 25, but not on line 1:
a Investment expenses not included on Form 990, Part VIII, line 7b .. 4a  
b Other (Describe in Part XIII.) ............ 4b  
c Add lines 4a and 4b....................... 4c  
5 Total expenses. Add lines 3 and 4c. (This must equal Form 990, Part I, line 18.) ...... 5  
Part XIII
Supplemental Information
Provide the descriptions required for Part II, lines 3, 5, and 9; Part III, lines 1a and 4; Part lV, lines 1b and 2b;
Part V, line 4; Part X, line 2; Part XI, lines 2d and 4b; and Part XII, lines 2d and 4b. Also complete this part to provide any additional information.
Return Reference Explanation
PART IV, LINE 2B: LIABILITIES INCURRED ON BEHALF OF THE FEDERAL RESERVE FUND.
PART X, LINE 2: PER THE CONSOLIDATED FINANCIAL STATEMENTS OF UNITED STUDENT AID FUNDS, INC., "USA FUNDS ACCOUNTS FOR UNCERTAINTIES IN INCOME TAXES ON A MORE-LIKELY-THAN-NOT CRITERIA BASED ON THE POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. THERE ARE NO UNCERTAINTIES THAT REQUIRE RECOGNITION OR DISCLOSURE AS OF SEPTEMBER 30, 2015 AND 2014."
Schedule D (Form 990) 2014

Additional Data


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Software Version:  




SCHEDULE F(Form 990)
Department of the Treasury
Internal Revenue Service
Statement of Activities Outside the United States
Right pointing arrow large image Complete if the organization answered "Yes" to Form 990,Part IV, line 14b, 15, or 16.Right pointing arrow large image Attach to Form 990.Right pointing arrow large image Information about Schedule F (Form 990) and its instructions is at www.irs.gov/form990.
OMB No. 1545-0047
2014
Open to Public Inspection
Name of the organization
UNITED STUDENT AID FUNDS INC
 
Employer identification number

94-6050341
Part I
General Information on Activities Outside the United States. Complete if the organization answered "Yes" to Form 990, Part IV, line 14b.
1
For grantmakers. Does the organization maintain records to substantiate the amount of its grants
and other assistance, the grantees’ eligibility for the grants or assistance, and the selection criteria
used to award the grants or assistance? ...........................
2
For grantmakers. Describe in Part V the organization’s procedures for monitoring the use of its grants and other assistance outside the United States.
3
Activites per Region. (The following Part I, line 3 table can be duplicated if additional space is needed.)
(a) Region (b) Number of offices in the region (c) Number of employees, agents, and independent contractors in region (d) Activities conducted in region (by type) (e.g., fundraising, program services, investments, grants to recipients located in the region) (e) If activity listed in (d) is a program service, describe specific type of
service(s) in region		 (f) Total expenditures
for and investments
in region
CENTRAL AMERICA & THE CARIBBEAN     INVESTMENTS   94,390,870
EUROPE (INCLUDING ICELAND & GREENLAND)     INVESTMENTS   28,113,279
NORTH AMERICA     INVESTMENTS   3,395,992
EAST ASIA AND THE PACIFIC     INVESTMENTS   730,800
SUB-SAHARAN AFRICA     INVESTMENTS   873,082
           
           
           
           
           
           
           
           
           
           
           
           
3a Sub-total ..... 0 0 127,504,023
b Total from continuation sheets to Part I ... 0 0 0
c Totals (add lines 3a and 3b) 0 0 127,504,023
For Paperwork Reduction Act Notice, see the Instructions for Form 990.Cat. No. 50082W Schedule F (Form 990) 2014
Schedule F (Form 990) 2014
Page 2
Part II
Grants and Other Assistance to Organizations or Entities Outside the United States. Complete if the organization answered "Yes" to Form 990, Part IV, line 15, for any recipient who received more than $5,000. Part II can be duplicated if additional space is needed.
1 (a) Name of organization (b) IRS code section
and EIN (if applicable)		 (a)(c) Region (b)(d) Purpose of
grant 		(e) Amount of
cash grant 		(f) Manner of
cash
disbursement 		(g) Amount
of non-cash
assistance 		(h) Description
of non-cash
assistance 		(i) Method of
valuation
(book, FMV,
appraisal, other)
             
             
             
             
             
             
             
             
             
             
             
             
             
             
             
             
2 Enter total number of recipient organizations listed above that are recognized as charities by the foreign country, recognized as tax-exempt by the IRS, or for which the grantee or counsel has provided a section 501(c)(3) equivalency letter ....MediumBullet
 
3
Enter total number of other organizations or entities .......................MediumBullet
 
Schedule F (Form 990) 2014
Schedule F (Form 990) 2014Page 3
Part III
Grants and Other Assistance to Individuals Outside the United States. Complete if the organization answered "Yes" to Form 990, Part IV, line 16.
Part III can be duplicated if additional space is needed.
(a) Type of grant or assistance (b) Region (c) Number of recipients (d) Amount of
cash grant 		(e) Manner of cash
disbursement 		(f) Amount of
non-cash
assistance 		(g) Description
of non-cash
assistance 		(h) Method of
valuation
(book, FMV,
appraisal, other)
               
               
               
               
               
               
               
               
               
               
               
               
               
               
               
               
               
               
Schedule F (Form 990) 2014
Schedule F (Form 990) 2014
Page 4
Part IV
Foreign Forms
1 Was the organization a U.S. transferor of property to a foreign corporation during the tax year? If "Yes,"the organization may be required to file Form 926, Return by a U.S. Transferor of Property to a Foreign Corporation (see Instructions for Form 926)......................................
2 Did the organization have an interest in a foreign trust during the tax year? If "Yes," the organization may be required to file Form 3520, Annual Return to Report Transactions with Foreign Trusts and Receipt of Certain Foreign Gifts, and/or Form 3520-A, Annual Information Return of Foreign Trust With a U.S. Owner (see Instructions for Forms 3520 and 3520-A; do not file with Form 990)............................
3 Did the organization have an ownership interest in a foreign corporation during the tax year? If "Yes," the organization may be required to file Form 5471, Information Return of U.S. Persons with Respect to Certain Foreign Corporations. (see Instructions for Form 5471)..............................
4 Was the organization a direct or indirect shareholder of a passive foreign investment company or a qualified electing fund during the tax year? If “Yes,” the organization may be required to file Form 8621, Information Return by a Shareholder of a Passive Foreign Investment Company or Qualified Electing Fund. (see Instructions for Form 8621)...............................................
5 Did the organization have an ownership interest in a foreign partnership during the tax year? If "Yes," the organization may be required to file Form 8865, Return of U.S. Persons with Respect to Certain Foreign Partnerships. (see Instructions for Form 8865)....................................
6 Did the organization have any operations in or related to any boycotting countries during the tax year? If "Yes," the organization may be required to file Form 5713, International Boycott Report (see Instructions for Form 5713; do not file with Form 990).....................................
Schedule F (Form 990) 2014
Schedule F (Form 990) 2014
Page 5
Part V
Supplemental Information
Provide the information required by Part I, line 2 (monitoring of funds); Part I, line 3, column (f) (accounting method; amounts of investments vs. expenditures per region); Part II, line 1 (accounting method); Part III (accounting method); and Part III, column (c) (estimated number of recipients), as applicable. Also complete this part to provide any additional information (see instructions).
ReturnReference Explanation
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
Schedule F (Form 990) 2014
Additional Data


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Software Version:  



Schedule I
(Form 990)
Department of the Treasury
Internal Revenue Service
Grants and Other Assistance to Organizations,
Governments and Individuals in the United States
Complete if the organization answered "Yes," to Form 990, Part IV, line 21 or 22.
lBullet Attach to Form 990.
lBullet Information about Schedule I (Form 990) and its instructions is at www.irs.gov/form990.
OMB No. 1545-0047
2014
Open to Public
Inspection
Name of the organization
UNITED STUDENT AID FUNDS INC
 
Employer identification number
94-6050341
Part I
General Information on Grants and Assistance
1
Does the organization maintain records to substantiate the amount of the grants or assistance, the grantees' eligibility for the grants or assistance, and
the selection criteria used to award the grants or assistance? ....................................
2
Describe in Part IV the organization's procedures for monitoring the use of grant funds in the United States.
Part II
Grants and Other Assistance to Domestic Organizations and Domestic Governments. Complete if the organization answered "Yes" to
Form 990, Part IV, line 21, for any recipient that received more than $5,000. Part II can be duplicated if additional space is needed.
(a) Name and address of organization
or government		 (b) EIN (c) IRC section
if applicable		 (d) Amount of cash grant (e) Amount of non-cash
assistance		 (f) Method of valuation
(book, FMV, appraisal,
other)		 (g) Description of
non-cash assistance		 (h) Purpose of grant
or assistance
(1) 100 BLACK MEN OF AMERICA INC
141 AUBURN AVENUE
ATLANTA,GA30303 		58-1974429 501(C)(3) 25,000       OPERATING GRANT
(2) 100 BLACK MEN OF INDIANAPOLIS
3901 N MERIDIAN ST SUITE 10
INDIANAPOLIS,IN46208 		35-1813852 501(C)(3) 30,000       OPERATING GRANT
(3) ADVANCEMENT THROUGH OPPORTUNITY AND KNOWLEDGE INCORPORATED
1200 W 37TH PL
LOS ANGELES,CA90007 		95-4415115 501(C)(3) 500,000       OPERATING GRANT
(4) ALAMO COMMUNITY COLLEGE DISTRICT FOUNDATION
1801 MARTIN LUTHER KING DRIVE
SAN ANTONIO,TX78203 		74-2422589 501(C)(3) 100,000       OPERATING GRANT
(5) ALASKA COMMISSION ON POSTSECONDARY EDUCATION
3030 VINTAGE BLVD
JUNEAU,AK99801 		92-6001185 STATE OF AK 15,520       OPERATING GRANT
(6) AMERICAN ACTION FORUM
1747 PENNSYLVANIA AVENUE NW FIFTH
FLOOR
WASHINGTON,DC20006 		27-0567765 501(C)(3) 100,000       OPERATING GRANT
(7) AMERICAN ASSOCIATION OF STATE COLLEGES AND UNIVERSITIES
1307 NEW YORK AVE NW 5TH FLOOR
WASHINGTON,DC20005 		52-0747578 501(C)(3) 353,000       OPERATING GRANT
(8) AMERICAN ENTERPRISE INSTITUTE FOR PUBLIC POLICY RESEARCH
1150 SEVENTEENTH STREET NW
WASHINGTON,DC20036 		53-0218495 501(C)(3) 324,773       OPERATING GRANT
(9) AMERICAN INDIAN COLLEGE FUND
8333 GREENWOOD BLVD
DENVER,CO80221 		52-1573446 501(C)(3) 200,000       OPERATING GRANT
(10) ARIZONA COMMISSION FOR POSTSECONDARY EDUCATION
2020 NORTH CENTRAL SUITE 650
PHOENIX,AZ85004 		86-6004791 STATE OF AZ 25,000       OPERATING GRANT
(11) ARIZONA STATE UNIVERSITY FOUNDATION FOR A NEW AMERICAN UNIVERSITY
PO BOX 2260
TEMPE,AZ85280 		86-6051042 501(C)(3) 250,000       OPERATING GRANT
(12) ASIAN & PACIFIC ISLANDER AMERICAN SCHOLARSHIP FUND
2025 M ST NW SUITE 610
WASHINGTON,DC20036 		57-1192973 501(C)(3) 325,000       OPERATING GRANT
(13) ASSOCIATION OF AMERICAN COLLEGES & UNIVERSITIES
1818 R STREET NW
WASHINGTON,DC20009 		52-1945674 501(C)(3) 499,798       OPERATING GRANT
(14) ASSOCIATION OF PUBLIC AND LAND-GRANT UNIVERSITIES
1307 NEW YORK AVENUE NW SUITE 400
WASHINGTON,DC20005 		53-0183246 501(C)(3) 217,500       OPERATING GRANT
(15) BENEDICT COLLEGE
1600 HARDEN STREET
COLUMBIA,SC29204 		41-0969244 501(C)(3) 20,000       DIRECTED GIFT
(16) BEST FRIENDS FOUNDATION
PO BOX 42135
WASHINGTON,DC20015 		52-1844471 501(C)(3) 75,000       OPERATING GRANT
(17) BIG BROTHERS BIG SISTERS OF CENTRAL INDIANA
2960 NORTH MERIDIAN SUITE 150
INDIANAPOLIS,IN46208 		35-1323831 501(C)(3) 10,000       OPERATING GRANT
(18) BISHOP NOLL INSTITUTE FOUNDATION INC
1519 HOFFMAN STREET
HAMMOND,IN46327 		31-0973961 501(C)(3) 25,000       DIRECTED GIFT
(19) BOTTOM LINE
500 AMORY STREET SUITE 1
JAMAICA PLAIN,MA02130 		04-3351427 501(C)(3) 250,000       OPERATING GRANT
(20) BRADLEY UNIVERSITY
1501 WEST BRADLEY AVENUE
PEORIA,IL61625 		37-0661494 501(C)(3) 17,500       DIRECTED GIFT/MATCHING GIFTS
(21) BRIGHAM YOUNG UNIVERSITY - IDAHO
591 NORTH 2ND EAST
REXBURG,ID834601655 		82-0207699 501(C)(3) 50,000       DIRECTED GIFT
(22) BUTLER UNIVERSITY
OFFICE OF THE VICE PRESIDENT 4600
SUNSET AVENUE - JORDAN HALL ROOM 14
INDIANAPOLIS,IN46208 		35-0867977 501(C)(3) 6,000       MATCHING GIFTS
(23) CARLTHORP SCHOOL
438 SAN VICENTE BLVD
SANTA MONICA,CA90402 		95-3512203 501(C)(3) 8,250       MATCHING GIFTS
(24) CATHOLIC TUITION SUPPORT ORGANIZATION
PO BOX 14467
TUCSON,AZ857324467 		86-0958969 501(C)(3) 6,000       MATCHING GIFTS
(25) CENTER FOR LEADERSHIP DEVELOPMENT
2425 DR MARTIN LUTHER KING JR
INDIANAPOLIS,IN46208 		35-1389882 501(C)(3) 262,500       OPERATING GRANT
(26) CENTRAL INDIANA COMMUNITY FOUNDATION INC
615 N ALABAMA ST SUITE 119
INDIANAPOLIS,IN46204 		35-1793680 501(C)(3) 100,000       OPERATING GRANT
(27) CHRISTEL HOUSE ACADEMY INC
2717 S EAST STREET
INDIANAPOLIS,IN46225 		02-0550824 501(C)(3) 25,000       OPERATING GRANT
(28) CICP FOUNDATION INC
111 MONUMENT CIRCLE SUITE 1800
INDIANAPOLIS,IN46204 		35-2065457 501(C)(3) 225,000       OPERATING GRANT
(29) CLAFLIN UNIVERSITY
400 MAGNOLIA STREET
ORANGEBURG,SC29115 		57-0314374 501(C)(3) 81,000       OPERATING GRANT
(30) COACHART
3303 WILSHIRE BLVD SUITE 1200
LOS ANGELES,CA90010 		94-3389547 501(C)(3) 15,000       OPERATING GRANT
(31) COCHISE COLLEGE FOUNDATION
4190 W HIGHWAY 80
DOUGLAS,AZ85607 		86-0211414 501(C)(3) 43,400       OPERATING GRANT
(32) COLLEGE BOUND
110 NORTH JEFFERSON
ST LOUIS,MO63103 		20-4768985 501(C)(3) 200,000       OPERATING GRANT
(33) COLUMBIA BUSINESS SCHOOL
33 W 60TH STREET 7TH FLOOR
NEW YORK,NY10023 		13-5598093 501(C)(3) 10,000       DIRECTED GIFT
(34) COMMUNITY HOSPITAL FOUNDATION INC
1500 N RITTER AVENUE
INDIANAPOLIS,IN46219 		51-0181688 501(C)(3) 100,000       OPERATING GRANT
(35) CONGREGATION OF HOLY CROSS US PROVINCE INC
PO BOX 774
NOTRE DAME,IN46556 		32-0344245 501(C)(3) 35,000       DIRECTED GIFT/MATCHING GIFTS
(36) CONGRESSIONAL HISPANIC CAUCUS INSTITUTE
1128 16TH STREET NW
WASHINGTON,DC20036 		52-1114225 501(C)(3) 6,000       OPERATING GRANT
(37) CONNORS STATE COLLEGE
700 COLLEGE ROAD
WARNER,OK74469 		73-6017987 STATE OF OK 50,000       OPERATING GRANT
(38) COPIAH-LINCOLN COMMUNITY COLLEGE
1028 JC REDD DRIVE
WESSON,MS39191 		64-6000293 STATE OF MS 27,000       OPERATING GRANT
(39) COUNCIL OF CHIEF STATE SCHOOL OFFICERS
ONE MASSACHUSETTS AVENUE NW SUITE
700
WASHINGTON,DC20001 		53-0198090 501(C)(3) 248,508       OPERATING GRANT
(40) CROSSROADS OF AMERICA COUNCIL BOY SCOUTS OF AMERICA
7125 FALL CREEK RD N
INDIANAPOLIS,IN46256 		35-0867962 501(C)(3) 10,000       OPERATING GRANT
(41) ECONOMIC CLUB OF INDIANA INC
1630 NORTH MERIDIAN STREET
INDIANAPOLIS,IN46202 		23-7381408 501(C)(3) 10,000       OPERATING GRANT
(42) EDUCATION COMMISSION OF THE STATES (ECS)
700 BROADWAY SUITE 810
DENVER,CO80203 		31-0722194 501(C)(3) 160,500       OPERATING GRANT
(43) EMBARC INC
200 WEST JACKSON BOULEVARD SUITE
800
CHICAGO,IL60606 		27-3453182 501(C)(3) 19,440       OPERATING GRANT/MATCHING GIFTS
(44) EXCELENCIA IN EDUCATION
1717 N ST NW 2ND FLOOR
WASHINGTON,DC20036 		20-0927912 501(C)(3) 20,150       OPERATING GRANT
(45) FAY BICCARD GLICK NEIGHBORHOOD CENTER AT CROOKED CREEK
2990 W 71ST STREET
INDIANAPOLIS,IN46268 		35-1738809 501(C)(3) 10,000       OPERATING GRANT
(46) FINANCE AUTHORITY OF MAINE
5 COMMUNITY DRIVE PO BOX 949
AUGUSTA,ME04332 		01-0392006 STATE OF ME 13,000       OPERATING GRANT
(47) FLORIDA ASSOCIATION OF STUDENT FINANCIAL AID ADMINISTRATORS
UNIVERSITY OF SOUTH FLORIDA 4202 E
FOWLER AVE SVC 1102
TAMPA,FL33620 		59-2437964 501(C)(3) 24,000       OPERATING GRANT
(48) FORTUNE ACADEMY
5626 LAWTON LOOP EAST DRIVE
INDIANAPOLIS,IN462161013 		35-2148108 501(C)(3) 10,500       MATCHING GIFTS
(49) FORUM FOR THE FUTURE OF HIGHER EDUCATION
MIT E48-402 238 MAIN STREET
CAMBRIDGE,MA01915 		04-3333819 501(C)(3) 250,000       OPERATING GRANT
(50) FOUNDATION FOR EXCELLENCE IN EDUCATION INC
215 S MONROE ST SUITE 420 PO BOX
10691
TALLAHASSEE,FL32302 		26-0615175 501(C)(3) 25,000       OPERATING GRANT
(51) GARRETT COLLEGE
687 MOSSER ROAD
MCHENRY,MD21541 		52-0906659 STATE OF MD 135,378       OPERATING GRANT
(52) GEAR UP MISSISSIPPI
3825 RIDGEWOOD ROAD SUITE 334
JACKSON,MS39211 		64-6000783 501(C)(3) 25,000       OPERATING GRANT
(53) GENESYS WORKS
14400 MEMORIAL DRIVE SUITE 200
HOUSTON,TX77079 		03-0440761 501(C)(3) 500,000       OPERATING GRANT
(54) GEORGIA STUDENT FINANCE COMMISSION (GSFC)
2082 E EXCHANGE PLACE
TUCKER,GA30082 		58-0951322 STATE OF GA 18,000       OPERATING GRANT
(55) GIRL SCOUTS OF CENTRAL INDIANA
2611 WATERFRONT PARKWAY EAST DRIVE
SUITE 100
INDIANAPOLIS,IN46214 		35-0876381 501(C)(3) 6,250       MATCHING GIFTS
(56) GLEANERS FOOD BANK OF INDIANA
3737 WALDEMERE AVENUE
INDIANAPOLIS,IN46241 		35-1483868 501(C)(3) 59,894       OPERATING GRANT/MATCHING GIFTS
(57) GRAMBLING STATE UNIVERSITY
403 MAIN ST BOX 4279
GRAMBLING,LA71245 		72-6000751 501(C)(3) 35,500       OPERATING GRANT
(58) GRANTMAKERS FOR EDUCATION
720 SW WASHINGTON STREET SUITE 605
PORTLAND,OR97205 		33-0919329 501(C)(3) 25,000       OPERATING GRANT
(59) HEALTH AND SCIENCE INNOVATIONS INC
2060 N SHADELAND AVE SUITE 110
INDIANAPOLIS,IN46219 		45-2836061 501(C)(3) 10,000       OPERATING GRANT
(60) HISPANIC SCHOLARSHIP FUND
1411 W 19TH STREET SUITE 325
GARDENA,CA90248 		52-1051044 501(C)(3) 200,000       OPERATING GRANT
(61) HUSTON-TILLOTSON UNIVERSITY
900 CHICON ST
AUSTIN,TX78702 		74-1180151 501(C)(3) 100,000       OPERATING GRANT
(62) IMANI AID INC
PO BOX 40111
INDIANAPOLIS,IN46240 		27-3473768 501(C)(3) 10,000       MATCHING GIFTS
(63) INDIANA BLACK EXPO INC
3145 N MERIDIAN ST
INDIANAPOLIS,IN46208 		35-1406245 501(C)(3) 250,000       OPERATING GRANT
(64) INDIANA COMMISSION FOR HIGHER EDUCATION
101 W OHIO STREET SUITE 550
INDIANAPOLIS,IN46204 		35-6000158 STATE OF IN 499,250       OPERATING GRANT
(65) INDIANA LATINO INSTITUTE
401 W MICHIGAN ST SUITE 100
INDIANAPOLIS,IN46202 		26-0036285 501(C)(3) 150,000       OPERATING GRANT
(66) INDIANA OPERA SOCIETY INC
4011 N PENNSYLVANIA ST
INDIANAPOLIS,IN46205 		35-1405179 501(C)(3) 13,000       OPERATING GRANT
(67) INDIANA PHILANTHROPY ALLIANCE
32 EAST WASHINGTON STREET SUITE
1100
INDIANAPOLIS,IN46204 		35-1835134 501(C)(3) 18,750       OPERATING GRANT
(68) INDIANA STATE MUSEUM FOUNDATION
650 WEST WASHINGTON STREET
INDIANAPOLIS,IN46204 		35-6202818 501(C)(3) 10,000       OPERATING GRANT
(69) INDIANA STUDENT FINANCIAL AID ASSOCIATION
1700 SOUTH MAIN ST
GOSHEN,IN46526 		35-1597706 501(C)(3) 25,000       OPERATING GRANT
(70) INDIANA UNIVERSITY FOUNDATION
PO BOX 500
BLOOMINGTON,IN47402 		35-6018940 501(C)(3) 81,051       DIRECTED GIFT/MATCHING GIFTS
(71) INDIANAPOLIS URBAN LEAGUE
777 INDIANA AVE
INDIANAPOLIS,IN46202 		35-6060655 501(C)(3) 165,000       OPERATING GRANT
(72) INNOVATEEDUCATE
228 GRIFFIN STREET
SANTA FE,NM87501 		26-3205739 501(C)(3) 50,000       OPERATING GRANT
(73) INTERNATIONAL SCHOOL OF INDIANA
4330 NORTH MICHIGAN ROAD
INDIANAPOLIS,IN46208 		35-1887161 501(C)(3) 5,250       MATCHING GIFTS
(74) IOWA COLLEGE ACCESS NETWORK
160 S 68TH ST SUITE 1101
WEST DES MOINES,IA50266 		27-0915418 501(C)(3) 18,000       OPERATING GRANT
(75) IVY ENDOWMENT INC
PO BOX 88474
INDIANAPOLIS,IN46208 		31-0962055 501(C)(3) 7,500       MATCHING GIFTS
(76) JDRF
10401 N MERIDIAN SUITE 150
INDIANAPOLIS,IN46290 		23-1907729 501(C)(3) 10,000       OPERATING GRANT
(77) JEWISH FEDERATION OF GREATER INDIANAPOLIS
6705 HOOVER ROAD
INDIANAPOLIS,IN46260 		35-0888017 501(C)(3) 6,500       MATCHING GIFTS
(78) JOBS FOR AMERICA'S GRADUATES INC
1729 KING STREET SUITE 100
ALEXANDRIA,VA22314 		52-1194546 501(C)(3) 350,000       OPERATING GRANT
(79) KANSAS ASSOCIATION OF STUDENT FINANCIAL AID ADMINISTRATORS
1001 S CEDAR ST 3
OTTAWA,KS66067 		48-1010942 501(C)(3) 13,000       OPERATING GRANT
(80) KENTUCKY ASSOCIATION OF STUDENT FINANCIAL AID ADMINISTRATORS INC
PO BOX 798
FRANKFORT,KY40602 		61-1082353 501(C)(3) 10,000       OPERATING GRANT
(81) KENTUCKY STATE UNIVERSITY
400 EAST MAIN STREET
FRANKFORT,KY40601 		61-1099712 501(C)(3) 90,485       OPERATING GRANT
(82) LA PLAZA INC
8902 E 38TH STREET
INDIANAPOLIS,IN46226 		30-0029575 501(C)(3) 10,000       OPERATING GRANT
(83) LEADERSUP
2401 ELLIOTT AVENUE SUITE 375
SEATTLE,WA98121 		46-2606773 501(C)(3) 235,000       OPERATING GRANT
(84) LOUISIANA OFFICE OF STUDENT FINANCIAL ASSISTANCE (LOSFA)
PO BOX 91202
BATON ROUGE,LA70821 		72-0591742 STATE OF LA 14,000       OPERATING GRANT
(85) MARIAN UNIVERSITY
3200 COLD SPRING ROAD
INDIANAPOLIS,IN46222 		35-0868175 501(C)(3) 65,000       OPERATING GRANT/MATCHING GIFTS
(86) MARTIN UNIVERSITY
2171 AVONDALE PLACE
INDIANAPOLIS,IN46218 		31-0970262 501(C)(3) 232,500       OPERATING GRANT/MATCHING GIFTS
(87) MASSACHUSETTS ASSOCIATION OF FINANCIAL AID ADMINISTRATORS
PO BOX 66003
AUBURNDALE,MA02466 		04-2792003 501(C)(3) 12,000       OPERATING GRANT
(88) MENTORING WOMEN'S NETWORK FOUNDATION INC
202 EAST MARKET STREET
INDIANAPOLIS,IN46204 		46-2992450 501(C)(3) 256,000       OPERATING GRANT
(89) MIAMI UNIVERSITY FOUNDATION
725 E CHESTNUT ST
OXFORD,OH45056 		31-6026014 501(C)(3) 13,000       DIRECTED GIFT
(90) MID-EASTERN ASSOC OF EDUCATIONAL OPPORTUNITY PROGRAM PERSONNEL
PO BOX 181
COCKEYSVILLE,MD21030 		31-0939782 501(C)(3) 25,000       OPERATING GRANT
(91) MIDWESTERN HIGHER EDUCATION COMPACT
105 5TH AVENUE SOUTH
MINNEAPOLIS,MN55401 		38-3011476 501(C)(3) 200,000       OPERATING GRANT
(92) MINNESOTA MINORITY EDUCATION PARTNERSHIP INC
2233 UNIVERSITY AVENUE WEST SUITE
220
SAINT PAUL,MN55114 		41-1699505 501(C)(3) 14,000       OPERATING GRANT
(93) MISSOURI DEPARTMENT OF HIGHER EDUCATION
PO BOX 1469 205 JEFFERSON STREET
JEFFERSON CITY,MO65102 		30-0249822 STATE OF MO 14,050       OPERATING GRANT
(94) MONTANA DEPARTMENT OF LABOR & INDUSTRY
1315 EAST LOCKEY
HELENA,MT59601 		81-0302402 STATE OF MT 300,000       OPERATING GRANT
(95) MONTANA UNIVERSITY SYSTEM
1315 EAST LOCKEY
HELENA,MT59601 		81-0302402 STATE OF MT 350,000       OPERATING GRANT
(96) MURRAY STATE COLLEGE
ONE MURRAY CAMPUS
TISHOMINGO,OK73460 		73-6017987 STATE OF OK 95,000       OPERATING GRANT
(97) NATIONAL ALLIANCE FOR PUBLIC CHARTER SCHOOLS
1101 15TH STREET NW STE 1010
WASHINGTON,DC20005 		30-0274709 501(C)(3) 15,000       OPERATING GRANT
(98) NATIONAL CENTER FOR HIGHER EDUCATION MANAGEMENT SYSTEMS (NCHEMS)
3035 CENTER GREEN DRIVE
BOULDER,CO80301 		74-1894594 501(C)(3) 599,800       OPERATING GRANT
(99) NATIONAL COLLEGE ACCESS NETWORK
1001 CONNECTICUT AVE NW SUITE 300
WASHINGTON,DC20036 		31-1793562 501(C)(3) 581,900       OPERATING GRANT
(100) NATIONAL CONFERENCE OF STATE LEGISLATURES
7700 EAST FIRST PLACE
DENVER,CO80230 		84-0772595 STATE OF CO 520,926       OPERATING GRANT
(101) NATIONAL GUARD YOUTH FOUNDATION
415 N LEE STREET
ALEXANDRIA,VA22314 		54-1940978 501(C)(3) 10,000       OPERATING GRANT
(102) NATIONAL SKILLS COALITION
1730 RHODE ISLAND AVENUE NW SUITE
712
WASHINGTON,DC20036 		30-0075580 501(C)(3) 500,000       OPERATING GRANT
(103) NATIONAL URBAN LEAGUE
120 WALL STREET 8TH FLOOR
NEW YORK,NY10005 		13-1840489 501(C)(3) 600,000       OPERATING GRANT
(104) NEW JERSEY ASSOCIATION OF STUDENT FINANCIAL AID ADMINISTRATORS INC
4 QUAKERBRIDGE PLAZA
TRENTON,NJ08625 		22-2615338 501(C)(3) 15,000       OPERATING GRANT
(105) NEW SCHOOLS VENTURE FUND
1970 BROADWAY 350
OAKLAND,CA94612 		94-3281780 501(C)(3) 25,000       OPERATING GRANT
(106) NEW YORK STATE FINANCIAL AID ADMINISTRATORS ASSOCIATION INC
KINGSBOROUGH COMMUNITY COLLEGE CUNY
FINANCIAL AID OFFICE 2001 ORIENTAL
BROOKLYN,NY11235 		13-2836102 501(C)(3) 8,200       OPERATING GRANT
(107) OASFAA
SINCLAIR COMMUNITY COLLEGE
FINANCIAL AID SCHOLARSHIPS 10-324A
DAYTON,OH45402 		31-0883788 501(C)(3) 25,000       OPERATING GRANT
(108) OBERLIN COLLEGE
50 W LORAIN STREET
OBERLIN,OH44074 		34-0714363 501(C)(3) 7,500       MATCHING GIFTS
(109) OFFICE OF EDUCATION INNOVATION
5255 WINTHROP AVENUE
INDIANAPOLIS,IN46220 		35-2155455 501(C)(3) 35,000       OPERATING GRANT
(110) OKLAHOMA STATE UNIVERSITY INSTITUTE OF TECHNOLOGY-OKMULGEE
1801 E 4TH STREET
OKMULGEE,OK74447 		73-6017987 STATE OF OK 79,119       OPERATING GRANT
(111) OREGON STUDENT ACCESS COMMISSION
1500 VALLEY RIVER DRIVE SUITE 100
EUGENE,OR97401 		93-6015581 STATE OF OR 20,000       OPERATING GRANT
(112) PACIFIC FINANCIAL AID ASSOCIATION
1314 S KING STREET SUITE 1164
HONOLULU,HI96814 		20-0429061 501(C)(3) 12,000       OPERATING GRANT
(113) PARTNERSHIP FOR LEARNING EDUGUIDE
321 NORTH PINE STREET
LANSING,MI48933 		38-2955237 501(C)(3) 19,400       OPERATING GRANT
(114) PAUL QUINN COLLEGE
3837 SIMPSON STUART RD
DALLAS,TX75241 		74-1238438 501(C)(3) 125,000       OPERATING GRANT
(115) PEAK TO PEAK CHARTER SCHOOLS INC
800 MERLIN DR
LAFAYETTE,CO80026 		84-1462870 501(C)(3) 15,000       DIRECTED GIFT
(116) PILGRIM PLACE
625 MAYFLOWER RD
CLAREMONT,CA91711 		95-1691301 501(C)(3) 20,000       MATCHING GIFTS
(117) PROJECT LEAD THE WAY
3939 PRIORITY WAY SOUTH DRIVE SUITE
400
INDIANAPOLIS,IN46240 		14-1816385 501(C)(3) 2,220,000       OPERATING GRANT
(118) PROVIDENCE CRISTO REY HIGH SCHOOL
75 N BELLEVIEW PLACE
INDIANAPOLIS,IN46222 		20-3585867 501(C)(3) 54,500       OPERATING GRANT
(119) PURDUE UNIVERSITY
PURDUE UNIVERSITY-ACCOUNTS
RECEIVABLE SPONSORED PROGRAM SERVIC
CHICAGO,IL606731235 		35-6002041 501(C)(3) 15,000       DIRECTED GIFT
(120) READING IS FUNDAMENTAL INC
1730 RHODE ISLAND AVE NW 11TH FLOOR
FLOOR
WASHINGTON,DC20036 		52-0976257 501(C)(3) 25,000       OPERATING GRANT
(121) REBUILDING TOGETHER
414 N COLLEGE AVENUE
INDIANAPOLIS,IN46202 		35-2099908 501(C)(3) 5,500       OPERATING GRANT
(122) RHODE ISLAND STUDENT LOAN AUTHORITY(RISLA)
560 JEFFERSON BLVD SUITE 200
WARWICK,RI02886 		05-0395355 STATE OF RI 12,000       OPERATING GRANT
(123) RILEY CHILDREN'S FOUNDATION
30 S MERIDIAN STREET
INDIANAPOLIS,IN46204 		35-0868147 501(C)(3) 72,000       OPERATING GRANT
(124) RUST COLLEGE
150 RUST AVE
HOLLY SPRINGS,MS38635 		64-0303805 501(C)(3) 43,120       OPERATING GRANT
(125) SANIBEL CAPTIVA CONSERVATION FOUNDATION
PO BOX 839
SANIBEL,FL33957 		59-1205087 501(C)(3) 10,000       MATCHING GIFTS
(126) SOUTH CAROLINA COMMISSION ON HIGHER EDUCATION
1122 LADY STREET SUITE 300
COLUMBIA,SC29201 		57-0674590 STATE OF SC 21,000       OPERATING GRANT
(127) SOUTHERN NEW HAMPSHIRE UNIVERSITY
2500 N RIVER ROAD
MANCHESTER,NH03106 		02-0274509 501(C)(3) 210,000       OPERATING GRANT
(128) ST ANTHONY CATHOLIC SCHOOL
3400 12TH ST NE
WASHINGTON,DC20017 		53-0196558 501(C)(3) 15,000       DIRECTED GIFT
(129) ST MARIA GORETTI PARISH
17104 SPRINGMILL ROAD
WESTFIELD,IN46074 		35-1950891 501(C)(3) 34,380       MATCHING GIFTS
(130) STVINCENT HOSPITAL FOUNDATION
8402 HARCOURT ROAD SUITE 210
INDIANAPOLIS,IN46260 		35-6088862 501(C)(3) 282,550       OPERATING GRANT/MATCHING GIFTS
(131) STARFISH INITIATIVE
6958 HILLSDALE COURT
INDIANAPOLIS,IN46250 		56-2442758 501(C)(3) 50,000       OPERATING GRANT
(132) STATE HIGHER EDUCATION EXECUTIVE OFFICERS
3035 CENTER GREEN DR SUITE 100
BOULDER,CO80301 		23-7167258 501(C)(3) 47,446       OPERATING GRANT
(133) STATE OF NEVADA
209 E MUSSER STREET ROOM 200
CARSON CITY,NV89701 		88-6000022 STATE OF NV 111,000       OPERATING GRANT
(134) STUDENT ASSISTANCE FOUNDATION OF MONTANA
2500 BROADWAY PO BOX 203101
HELENA,MT59620 		81-0527529 501(C)(3) 14,000       OPERATING GRANT
(135) SUSQUEHANNA UNIVERSITY
514 UNIVERSITY AVENUE
SELINSGROVE,PA17870 		23-1353385 501(C)(3) 29,000       DIRECTED GIFT/MATCHING GIFTS
(136) TEACH FOR AMERICA
1314 N MERIDIAN ST SUITE 200
INDIANAPOLIS,IN46202 		13-3451913 501(C)(3) 8,500       OPERATING GRANT
(137) TEENWORKS
2820 N MERIDIAN STREET SUITE 1250
INDIANAPOLIS,IN46208 		46-2047309 501(C)(3) 25,000       OPERATING GRANT
(138) TENNESSEE HIGHER EDUCATION COMMISSION
SUITE 1900 PARKWAY TOWERS 404 JAMES
ROBERTSON PARKWAY
NASHVILLE,TN37243 		62-6001445 STATE OF TN 10,000       OPERATING GRANT
(139) THANKSUSA
1390 CHAIN BRIDGE RD 260
MCLEAN,VA22101 		20-3973151 501(C)(3) 100,000       OPERATING GRANT
(140) THE ADMINISTRATORS OF THE TULANE EDUCATIONAL FUND
1555 POYDRAS STREET
NEW ORLEANS,LA70112 		72-0423889 501(C)(3) 500,000       OPERATING GRANT
(141) THE BASE
11 WALNUT PARK
ROXBURY,MA02119 		46-1856641 501(C)(3) 100,000       OPERATING GRANT
(142) THE BROOKINGS INSTITUTION
1775 MASSACHUSETTS AVENUE NW
WASHINGTON,DC20036 		53-0196577 501(C)(3) 245,000       OPERATING GRANT
(143) THE INTERNATIONAL CENTER INC
ONE INDIANA SQUARE SUITE 2000
INDIANAPOLIS,IN46204 		35-1300785 501(C)(3) 10,000       OPERATING GRANT
(144) THE LINKS FOUNDATION INCORPORATED
1200 MASSACHUSETTS AVE NW
WASHINGTON,DC20005 		52-1170830 501(C)(3) 30,000       OPERATING GRANT
(145) THE OAKS ACADEMY
2301 NORTH PARK AVE
INDIANAPOLIS,IN46205 		35-2050595 501(C)(3) 7,500       MATCHING GIFTS
(146) THINK FORWARD FOUNDATION INC
1150 W 116TH STREET
CARMEL,IN46032 		27-1874850 501(C)(3) 7,500       OPERATING GRANT
(147) THRIVE 360
9250 CORPORATION DRIVE SUITE 300
INDIANAPOLIS,IN46256 		20-8533217 501(C)(3) 100,000       OPERATING GRANT
(148) THURGOOD MARSHALL COLLEGE FUND
901 F STREET NW SUITE 300
WASHINGTON,DC20004 		41-1750692 501(C)(3) 200,000       OPERATING GRANT
(149) TRUCKEE MEADOWS COMMUNITY COLLEGE FOUNDATION
ALEXANDRIA VA 22314
RENO,NV89512 		88-0185319 501(C)(3) 100,000       OPERATING GRANT
(150) US DREAM ACADEMY INC
5950 SYMPHONY WOODS RD SUITE 504
COLUMBIA,MD21044 		59-3514841 501(C)(3) 100,000       OPERATING GRANT
(151) UNITED NEGRO COLLEGE FUND
3737 N MERIDIAN STREET SUITE 203
INDIANAPOLIS,IN46208 		13-1624241 501(C)(3) 213,475       OPERATING GRANT/MATCHING GIFTS
(152) UNITED STATES CONFERENCE OF MAYORS
1620 I STREET NW 4TH FLOOR
WASHINGTON,DC20006 		53-0196642 501(C)(3) 320,000       OPERATING GRANT
(153) UNITED TRIBES TECHNICAL COLLEGE
3315 UNIVERSITY DRIVE
BISMARCK,ND58504 		45-0314233 501(C)(3) 50,000       OPERATING GRANT
(154) UNITED WAY OF CENTRAL INDIANA
3901 N MERIDIAN
INDIANAPOLIS,IN46208 		35-1007590 501(C)(3) 97,016       MATCHING GIFTS
(155) UNIVERSITY OF HAWAII
2444 DOLE STREET BACHMAN HALL 105
HONOLULU,HI96822 		99-0085260 501(C)(3) 4,616,710       OPERATING GRANT
(156) UNIVERSITY OF HAWAII MAUI COLLEGE
310 W KAAHUMANU AVENUE
KAHULUI,HI96732 		99-6000354 STATE OF HI 51,754       OPERATING GRANT
(157) UNIVERSITY OF NEW MEXICO FOUNDATION INCORPORATED
700 LOMAS BLVD NE TWO WOODWARD CTR
ALBUQUERQUE,NM87102 		85-0275408 501(C)(3) 14,000       OPERATING GRANT
(158) UNIVERSITY OF NOTRE DAME DU LAC
1100 GRACE HALL
NOTRE DAME,IN465565612 		35-0868188 501(C)(3) 15,000       MATCHING GIFTS
(159) UNIVERSITY OF PENNSYLVANIA
601 FRANKLIN BLDG 3451 WALNUT ST
PHILADELPHIA,PA191046205 		23-1352685 501(C)(3) 22,500       DIRECTED GIFT/MATCHING GIFTS
(160) UNIVERSITY OF PORTLAND
5000 N WILLAMETTE BLVD
PORTLAND,OR97203 		93-0401259 501(C)(3) 25,002       MATCHING GIFTS
(161) UNIVERSITY OF TEXAS AT AUSTIN
MAIN BUILDING 400 G3400 P O BOX T
AUSTIN,TX787138920 		74-6000203 501(C)(3) 25,000       DIRECTED GIFT
(162) UNIVERSITY OF WISCONSIN FOUNDATION
1848 UNIVERSITY AVENUE
MADISON,WI53726 		39-0743975 501(C)(3) 24,000       DIRECTED GIFT/MATCHING GIFTS
(163) URBAN ALLIANCE
2030 Q STREET NW
WASHINGTON,DC20009 		52-1938443 501(C)(3) 500,000       OPERATING GRANT
(164) US CHAMBER OF COMMERCE FOUNDATION
1615 H STREET NW
WASHINGTON,DC20062 		46-1561597 501(C)(3) 2,093,400       OPERATING GRANT
(165) VANGUARD CHARITABLE ENDOWMENT PROGRAM
95 WELLS AVENUE SUITE 155
NEWTON,MA024593204 		23-2888152 501(C)(3) 10,000       MATCHING GIFTS
(166) VERMONT STUDENT ASSISTANCE CORP
10 EAST ALLEN STREET PO BOX 2000
WINOOSKI,VT05404 		30-0216589 501(C)(3) 15,000       OPERATING GRANT
(167) WASHINGTON STUDENT ACHIEVEMENT COUNCIL
917 LAKERIDGE WAY SW
OLYMPIA,WA98504 		45-5122913 STATE OF WA 28,500       OPERATING GRANT
(168) WESLEYAN COLLEGE
4760 FORSYTH ROAD
MACON,GA31210 		58-0593438 501(C)(3) 67,650       OPERATING GRANT
(169) WEST VIRGINIA HIGHER EDUCATION POLICY COMMISSION
1018 KANAWHA BOULEVARD EAST SUITE
700
CHARLESTON,WV25301 		55-0517092 STATE OF WV 18,000       OPERATING GRANT
(170) WISCONSIN ASSOCIATION OF STUDENT FINANCIAL AID ADMINISTRATORS INC
133 RIVER DRIVE
WAUSAU,WI54403 		39-6279228 501(C)(3) 16,500       OPERATING GRANT
(171) WOUNDED WARRIOR PROJECT
4899 BELFORT ROAD SUITE 300
JACKSONVILLE,FL32256 		20-2370934 501(C)(3) 50,000       OPERATING GRANT
(172) YEAR UP INC
45 MILK STREET - 9TH FLOOR
BOSTON,MA02109 		04-3534407 501(C)(3) 300,000       OPERATING GRANT
(173) YOUTH MENTORING INITIATIVE
PO BOX 743
FISHERS,IN46038 		26-2543447 501(C)(3) 5,500       OPERATING GRANT
2
Enter total number of section 501(c)(3) and government organizations listed in the line 1 table ................ Bullet Image
173
3
Enter total number of other organizations listed in the line 1 table ........................ . Bullet Image
0
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50055P
Schedule I (Form 990) 2014

Schedule I (Form 990) 2014
Page 2
Part III
Grants and Other Assistance to Domestic Individuals. Complete if the organization answered "Yes" to Form 990, Part IV, line 22.
Part III can be duplicated if additional space is needed.
(a)Type of grant or assistance (b)Number of
recipients		 (c)Amount of
cash grant		 (d)Amount of
non-cash assistance		 (e)Method of valuation (book,
FMV, appraisal, other)		 (f)Description of non-cash assistance
(1) FASFA COMPLETION HELP 10000 250,000      












Part IV
Supplemental Information. Provide the information required in Part I, line 2, Part III, column (b), and any other additional information.
Return Reference Explanation
PART I, LINE 2: UNITED STUDENT AID FUNDS, INC.'S GRANT-MAKING IS LIMITED TO THE 50 U.S. STATES AND THE DISTRICT OF COLUMBIA. UNITED STUDENT AID FUNDS, INC. MONITORS THE USE OF GRANT FUNDS BY REQUIRING THE GRANTEE TO SEND IN A FINAL ACCOUNTING REPORT DESCRIBING HOW THE FUNDS WERE USED. THIS REPORT WILL INCLUDE ACTUAL EXPENSES THAT WOULD BE COMPARED TO THE BUDGET SENT IN WITH THE ORIGINAL GRANT REQUEST. IN ADDITION, PROGRAM OFFICERS PERFORM SITE VISITS OR ATTEND EVENTS THAT UNITED STUDENT AID FUNDS, INC. HAS SPONSORED.
Schedule I (Form 990) 2014


Additional Data


Software ID:  
Software Version:  


Schedule J
(Form 990)
Department of the Treasury
Internal Revenue Service
Compensation Information
For certain Officers, Directors, Trustees, Key Employees, and Highest
Compensated Employees
SchJMediumBullet Complete if the organization answered "Yes" to Form 990, Part IV, line 23.
SchJMediumBullet Attach to Form 990.
SchJMediumBullet Information about Schedule J (Form 990) and its instructions is at www.irs.gov/form990.
OMB No. 1545-0047
2014
Open to Public Inspection
Name of the organization
UNITED STUDENT AID FUNDS INC
 
Employer identification number

94-6050341
Part I
Questions Regarding Compensation
Yes
No
1a
Check the appropiate box(es) if the organization provided any of the following to or for a person listed in Form
990, Part VII, Section A, line 1a. Complete Part III to provide any relevant information regarding these items.
b
If any of the boxes in line 1a are checked, did the organization follow a written policy regarding payment or reimbursement or provision of all of the expenses described above? If "No," complete Part III to explain....
1b
Yes
 
2
Did the organization require substantiation prior to reimbursing or allowing expenses incurred by all
directors, trustees, officers, including the CEO/Executive Director, regarding the items checked in line 1a? ..
2
Yes
 
3
Indicate which, if any, of the following the filing organization used to establish the compensation of the
organization's CEO/Executive Director. Check all that apply. Do not check any boxes for methods
used by a related organization to establish compensation of the CEO/Executive Director, but explain in Part III.
4
During the year, did any person listed in Form 990, Part VII, Section A, line 1a with respect to the filing organization or a related organization:
a
Receive a severance payment or change-of-control payment? ................
4a
Yes
 
b
Participate in, or receive payment from, a supplemental nonqualified retirement plan? .........
4b
Yes
 
c
Participate in, or receive payment from, an equity-based compensation arrangement? .........
4c
 
No
If "Yes" to any of lines 4a-c, list the persons and provide the applicable amounts for each item in Part III.
Only 501(c)(3), 501(c)(4), and 501(c)(29) organizations must complete lines 5-9.
5
For persons listed in Form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the revenues of:
a
The organization? ...........................
5a
 
No
b
Any related organization? .........................
5b
 
No
If "Yes," to line 5a or 5b, describe in Part III.
6
For persons listed in Form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the net earnings of:
a
The organization? ...........................
6a
 
No
b
Any related organization? .........................
6b
 
No
If "Yes," to line 6a or 6b, describe in Part III.
7
For persons listed in Form 990, Part VII, Section A, line 1a, did the organization provide any non-fixed
payments not described in lines 5 and 6? If "Yes," describe in Part III ............
7
Yes
 
8
Were any amounts reported in Form 990, Part VII, paid or accured pursuant to a contract that was
subject to the initial contract exception described in Regulations section 53.4958-4(a)(3)? If "Yes," describe
in Part III .............................
8
 
No
9
If "Yes" to line 8, did the organization also follow the rebuttable presumption procedure described in Regulations section 53.4958-6(c)? .........................
9
 
 
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50053T
Schedule J (Form 990) 2014

Schedule J (Form 990) 2014
Page 2
Part II
Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees. Use duplicate copies if additional space is needed.
For each individual whose compensation must be reported in Schedule J, report compensation from the organization on row (i) and from related organizations, described in the
instructions, on row (ii). Do not list any individuals that are not listed on Form 990, Part VII.
Note. The sum of columns (B)(i)-(iii) for each listed individual must equal the total amount of Form 990, Part VII, Section A, line 1a, applicable column (D) and (E) amounts for that individual.
(A) Name and Title (B) Breakdown of W-2 and/or 1099-MISC compensation (C) Retirement and other deferred compensation (D) Nontaxable
benefits		 (E) Total of columns
(B)(i)-(D) 		(F) Compensation in column(B) reported as deferred in prior Form 990
(i) Base compensation (ii) Bonus & incentive compensation (iii) Other reportable compensation
1WILLIAM HANSENPRESIDENT & CEO (i)
(ii)		 476,715
...............................
0 		339,500
...............................
0 		64,501
...............................
0 		171,073
...............................
0 		25,466
...............................
0 		1,077,255
...............................
0 		0
...............................
0
2STEPHEN C HAMEVP & CFO (i)
(ii)		 266,818
...............................
0 		127,719
...............................
0 		26,452
...............................
0 		63,261
...............................
0 		22,368
...............................
0 		506,618
...............................
0 		0
...............................
0
3DAVID B BOODTEVP & GENERAL COUNSEL (i)
(ii)		 245,515
...............................
0 		114,653
...............................
0 		21,036
...............................
0 		39,490
...............................
0 		27,966
...............................
0 		448,660
...............................
0 		0
...............................
0
4GREGORY AYERSSVP GS/ADMIN THRU 12/19/14 (i)
(ii)		 204,316
...............................
0 		92,830
...............................
0 		33,474
...............................
0 		592,680
...............................
0 		25,466
...............................
0 		948,766
...............................
0 		0
...............................
0
5ROBERT BALLARDSVP ACC/OUT THRU 12/19/14 (i)
(ii)		 221,118
...............................
0 		105,898
...............................
0 		23,138
...............................
0 		658,961
...............................
0 		23,068
...............................
0 		1,032,183
...............................
0 		0
...............................
0
6CAROL D'AMICOEVP NAT ENG & MISS ADV (i)
(ii)		 230,297
...............................
0 		108,166
...............................
0 		5,939
...............................
0 		30,847
...............................
0 		9,383
...............................
0 		384,632
...............................
0 		0
...............................
0
7MARK PELESHEVP CORP & BUS DEV (i)
(ii)		 261,715
...............................
0 		123,618
...............................
0 		8,816
...............................
0 		37,582
...............................
0 		25,466
...............................
0 		457,197
...............................
0 		0
...............................
0
8LARRY LUTZSVP STUDENT FIN PROG (i)
(ii)		 232,716
...............................
0 		79,719
...............................
0 		13,059
...............................
0 		14,605
...............................
0 		25,466
...............................
0 		365,565
...............................
0 		0
...............................
0
9CRAIG P ANDERSONSVP BUS DEV (i)
(ii)		 221,265
...............................
0 		63,775
...............................
0 		1,619
...............................
0 		892
...............................
0 		27,966
...............................
0 		315,517
...............................
0 		0
...............................
0
10DEBORAH MCCLOUDVP & CONTROLLER (i)
(ii)		 148,435
...............................
0 		32,999
...............................
0 		2,254
...............................
0 		27,919
...............................
0 		22,268
...............................
0 		233,875
...............................
0 		0
...............................
0
11LEONARD GURINVP CASH & INVESTMENTS (i)
(ii)		 150,930
...............................
0 		34,631
...............................
0 		8,837
...............................
0 		25,548
...............................
0 		26,466
...............................
0 		246,412
...............................
0 		0
...............................
0
12JONI M ANDERSONVP & SR CORP COUNSEL (i)
(ii)		 151,887
...............................
0 		34,950
...............................
0 		16,003
...............................
0 		26,253
...............................
0 		21,399
...............................
0 		250,492
...............................
0 		0
...............................
0
13KAREN L DEVILLASENIOR PROGRAM OFFICER (i)
(ii)		 159,653
...............................
0 		24,991
...............................
0 		2,791
...............................
0 		186,591
...............................
0 		25,466
...............................
0 		399,492
...............................
0 		0
...............................
0
14HENRY L FERNANDEZSENIOR PROGRAM OFFICER (i)
(ii)		 160,316
...............................
0 		40,666
...............................
0 		13,802
...............................
0 		113,558
...............................
0 		27,087
...............................
0 		355,429
...............................
0 		0
...............................
0
15DAVID C LONGVP OF SALES (i)
(ii)		 174,253
...............................
0 		38,873
...............................
0 		614
...............................
0 		26,668
...............................
0 		25,466
...............................
0 		265,874
...............................
0 		0
...............................
0
16MILAN D TESANOVICHBUSINESS DEVELOPMENT (i)
(ii)		 151,888
...............................
0 		33,823
...............................
0 		4,433
...............................
0 		28,830
...............................
0 		23,068
...............................
0 		242,042
...............................
0 		0
...............................
0
17CARL DALSTROMFORMER PRESIDENT & CEO (i)
(ii)		 0
...............................
0 		0
...............................
0 		274,881
...............................
0 		0
...............................
0 		0
...............................
0 		274,881
...............................
0 		0
...............................
0
18DENISE B FESERFORMER VP SSS (i)
(ii)		 6,119
...............................
0 		0
...............................
0 		622,952
...............................
0 		1,559
...............................
0 		0
...............................
0 		630,630
...............................
0 		0
...............................
0
19TERRY MUILENBURGFORMER SVP GOV'T RELATIONS (i)
(ii)		 126,923
...............................
0 		67,987
...............................
0 		676,963
...............................
0 		27,962
...............................
0 		14,655
...............................
0 		914,490
...............................
0 		0
...............................
0
Schedule J (Form 990) 2014

Schedule J (Form 990) 2014
Page 3
Part III
Supplemental Information
Provide the information, explanation, or descriptions required for Part I, lines 1a, 1b, 3, 4a, 4b, 4c, 5a, 5b, 6a, 6b, 7, and 8, and for Part II.
Also complete this part for any additional information.
Return Reference Explanation
PART I, LINE 1A FIRST CLASS TRAVEL - FIRST CLASS TRAVEL IS APPROVED FOR ALL TRUSTEES IF THE FLIGHT IS MORE THAN 2 HOURS IN DURATION OR IF A MEDICAL CONDITION EXISTS WHICH REQUIRES THE NEED FOR AN UPGRADE. THIS NON-TAXABLE BUSINESS EXPENSE IS NOT TREATED AS ADDITIONAL TAXABLE COMPENSATION TO THE TRUSTEE. FIRST CLASS TRAVEL IS APPROVED FOR EMPLOYEES, AT THE DISCRETION OF THE CEO, IF THEY TRAVEL FREQUENTLY AS PART OF THEIR POSITION OR IF A MEDICAL CONDITION EXISTS WHICH REQUIRES THE NEED FOR AN UPGRADE. EVP & CFO STEVE HAM HAS BEEN APPROVED BY WILLIAM HANSEN, CEO, FOR ONE CLASS UPGRADE, WHICH MAY RESULT IN FIRST CLASS TRAVEL, DUE TO A MEDICAL CONDITION. THIS NON-TAXABLE BUSINESS EXPENSE IS NOT TREATED AS ADDITIONAL TAXABLE COMPENSATION. TAX INDEMNIFICATION AND GROSS-UP PAYMENTS - GROSS-UP PAYMENTS WERE MADE FOR TEMPORARY HOUSING AND COMMUTING EXPENSES FOR ONE OF THE OFFICERS LISTED IN PART VII. UNITED STUDENT AID FUNDS, INC. INCLUDED THE ABOVE APPLICABLE EXPENSES IN THE EMPLOYEE'S W-2 AS ADDITIONAL TAXABLE COMPENSATION. HEALTH OR SOCIAL CLUB DUES - UNITED STUDENT AID FUNDS, INC. MAY REIMBURSE EACH EMPLOYEE UP TO A MAXIMUM OF $250 PER CALENDAR YEAR FOR THE COST OF (I) EXERCISE EQUIPMENT PURCHASED DURING THE APPLICABLE CALENDAR YEAR AND/OR (II) A HEALTH OR FITNESS CLUB MEMBERSHIP. ALL REIMBURSEMENTS ARE CONSIDERED TAXABLE INCOME TO THE EMPLOYEE.
PART I, LINE 4A: THE FOLLOWING FORMER OFFICERS RECEIVED SEVERANCE PAYMENTS FROM THE ORGANIZATION DURING CALENDAR YEAR 2014: DENISE FESER $603,000 TERRY MUILENBURG $663,000 DURING CALENDAR YEAR 2014, SEVERANCE WAS ACCRUED FOR THE FOLLOWING OFFICERS: GREGORY AYERS $554,196 ROBERT BALLARD $609,792
PART I, LINE 4B: THE CEO OF UNITED STUDENT AID FUNDS, INC. PARTICIPATES IN A SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN UNDER CODE SECTION 457(F). ANY AMOUNTS ULTIMATELY PAID UNDER THE PLAN TO THE CEO ARE REPORTED AS COMPENSATION ON FORM 990, SCHEDULE J, PART II, COLUMN B IN THE YEAR PAID. NO PAYMENTS WERE MADE UNDER THE PLAN DURING CALENDAR YEAR 2014.
PART I, LINE 7: ALL OFFICERS AND ALL EMPLOYEES OF THE COMPANY PARTICIPATE IN THE "EMPLOYEE INCENTIVE PLAN." ANNUAL PAYMENTS ARE BASED ON OVERALL CORPORATE PERFORMANCE IN THE ACCOMPLISHMENT OF THE CORPORATE OBJECTIVES, AS EVALUATED BY THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES, AND INDIVIDUAL PERFORMANCE. THE AMOUNT OF THE PAYMENT IS A PERCENTAGE OF ANNUAL SALARY, VARYING BY THE SALARY GRADE OF THE INDIVIDUAL POSITION.
Schedule J (Form 990) 2014

Additional Data


Software ID:  
Software Version:  
SCHEDULE O
(Form 990 or 990-EZ)

Department of the Treasury
Internal Revenue Service
Supplemental Information to Form 990 or 990-EZ

Complete to provide information for responses to specific questions on
Form 990 or 990-EZ or to provide any additional information.
MediumBullet Attach to Form 990 or 990-EZ.
MediumBullet Information about Schedule O (Form 990 or 990-EZ) and its instructions is at
www.irs.gov/form990.
OMB No. 1545-0047
2014
Open to Public
Inspection
Name of the organization
UNITED STUDENT AID FUNDS INC
 
Employer identification number

94-6050341
Return Reference Explanation
FORM 990, PART VI, SECTION A, LINE 4 EFFECTIVE FEBRUARY 12, 2015, UNITED STUDENT AID FUNDS, INC. AMENDED ITS ARTICLES OF INCORPORATION AND BYLAWS. THE SIGNIFICANT CHANGES ARE AS FOLLOWS: - USA FUNDS, INC. BECAME THE SOLE CORPORATE MEMBER OF UNITED STUDENT AID FUNDS, INC. - THE NUMBER OF THE BOARD OF TRUSTEES SHALL CONSIST OF NOT LESS THAN TEN NOR MORE THAN SIXTEEN.
FORM 990, PART VI, SECTION A, LINE 6 USA FUNDS, INC. IS THE SOLE MEMBER OF UNITED STUDENT AID FUNDS, INC. AND APPOINTS THE BOARD OF TRUSTEES.
FORM 990, PART VI, SECTION A, LINE 7A USA FUNDS, INC. IS THE SOLE MEMBER OF UNITED STUDENT AID FUNDS, INC. AS THE SOLE MEMBER, USA FUNDS HAS THE RIGHT TO (A) APPOINT AND REMOVE THE MEMBERS OF THE BOARD OF TRUSTEES OF UNITED STUDENT AID FUNDS, INC. AND (B) FILL ANY VACANCY ON THE BOARD OF TRUSTEES.
FORM 990, PART VI, SECTION A, LINE 7B UNITED STUDENT AID FUNDS, INC.'S SOLE MEMBER IS USA FUNDS, INC. WHICH SHALL HAVE THE RIGHTS AND DUTIES AS PROVIDED IN THE CORPORATION'S BYLAWS. IN FURTHERANCE AND NOT IN LIMITATION OF THE POWERS CONFERRED BY LAW, THE MEMBER IS EXPRESSLY AUTHORIZED TO MAKE, ADOPT, ALTER, AMEND AND REPEAL, FROM TIME TO TIME, THE BYLAWS OF THE CORPORATION. THE MEMBER SHALL ACT THROUGH ACTION TAKEN BY ITS BOARD OF TRUSTEES.
FORM 990, PART VI, SECTION B, LINE 11 ONCE THE FORM 990 IS PREPARED BY THE COMPANY, WITH ASSISTANCE FROM THE EXTERNAL TAX ACCOUNTING FIRM, THE FORM AND ALL APPLICABLE SCHEDULES ARE PROVIDED TO THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES FOR REVIEW. AFTER THE AUDIT COMMITTEE HAS COMPLETED THEIR REVIEW, THE FORM AND ALL APPLICABLE SCHEDULES ARE PROVIDED TO THE FULL BOARD IN ADVANCE OF THE FORM BEING FILED WITH THE IRS, ALLOWING TIME FOR REVIEW AND COMMENT BY THE FULL BOARD.
FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY, A CONFLICT OF INTEREST AND DISCLOSURE QUESTIONNAIRE IS REQUIRED TO BE COMPLETED BY ALL EMPLOYEES. THE PURPOSE OF THE QUESTIONNAIRE IS TO SOLICIT INFORMATION ABOUT RELATIONSHIPS THAT MAY CONSTITUTE A POTENTIAL CONFLICT OF INTEREST. EACH MEMBER OF THE BOARD OF TRUSTEES SIGNS AN ANNUAL CONFLICT OF INTEREST DISCLOSURE STATEMENT THAT DISCLOSES ACTUAL OR POTENTIAL CONFLICTS OF INTEREST AS SET FORTH IN THE APPROVED CONFLICTS OF INTEREST POLICY FOR TRUSTEES. THE DISCLOSURE STATEMENTS ARE REVIEWED BY THE GOVERNANCE COMMITTEE OF THE BOARD OF TRUSTEES. WHEN ANY SUCH CONFLICT OF INTEREST IS RELEVANT TO A MATTER REQUIRING ACTION BY THE BOARD OF TRUSTEES OR ANY COMMITTEE, THE INTERESTED PERSON SHALL CALL IT TO THE ATTENTION OF THE CHAIR OF THE COMMITTEE, AND SUCH PERSON SHALL NOT VOTE ON THE MATTER. MOREOVER, THE PERSON HAVING THE CONFLICT SHALL LEAVE THE ROOM IN WHICH THE MEETING IS HELD AND NOT PARTICIPATE IN THE FINAL DELIBERATIONS OR DECISION REGARDING THE MATTER UNDER CONSIDERATION. A BOARD MEMBER SHALL ADVISE THE CHAIR OF THE GOVERNANCE COMMITTEE AND THE CORPORATE SECRETARY IN WRITING OF ANY POTENTIAL CONFLICTS OF INTEREST WHICH ARISE AFTER SIGNING THE CONFLICT OF INTEREST DISCLOSURE STATEMENT.
FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION DETERMINATIONS OF UNITED STUDENT AID FUNDS, INC.'S CEO AND THE OTHER OFFICERS ARE MADE BY A COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES WHOSE MEMBERS HAVE NO CONFLICT OF INTEREST WITHIN THE MEANING OF TREAS. REG. 53.4958-6(C)(1)(III). THE COMPENSATION COMMITTEE ESTABLISHES THE COMPENSATION PHILOSOPHY, AND WITH COMPARABILITY DATA PROVIDED BY AN INDEPENDENT COMPENSATION CONSULTANT, ANNUALLY EVALUATES THE PERFORMANCE OF THE CEO AND ALL OTHER OFFICERS, AND DETERMINES IN ADVANCE THE REASONABLENESS OF COMPENSATION PAID TO AND BENEFITS PROVIDED TO SUCH INDIVIDUALS. AS PART OF THE ANNUAL PERFORMANCE EVALUATION, THE COMPENSATION COMMITTEE SOLICITS THE VIEWS OF THE CHAIRS OF THE OTHER BOARD COMMITTEES. THE DETERMINATIONS MADE AND THE BASIS OF SUCH DETERMINATIONS ARE CONTEMPORANEOUSLY DOCUMENTED IN WRITTEN MINUTES. FINAL DETERMINATIONS ARE REPORTED TO THE FULL BOARD OF TRUSTEES.
FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ANY DOCUMENT OPEN TO PUBLIC INSPECTION AVAILABLE UPON REQUEST.
FORM 990, PART XI, LINE 9: NET ACTUARIAL GAIN RELATED TO EMPLOYEE BENEFIT PLANS -522,877. FUND BALANCE TRANSFERS TO EDUCATION AT WORK -6,000,000.
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 51056K
Schedule O (Form 990 or 990-EZ) 2014

Additional Data


Software ID:  
Software Version:  
SCHEDULE R
(Form 990)
Department of the Treasury
Internal Revenue Service
Related Organizations and Unrelated Partnerships
MediumBulletComplete if the organization answered "Yes" on Form 990, Part IV, line 33, 34, 35b, 36, or 37.
MediumBulletAttach to Form 990.
MediumBullet Information about Schedule R (Form 990) and its instructions is at www.irs.gov/form990.

OMB No. 1545-0047
2014
Open to Public Inspection
Name of the organization
UNITED STUDENT AID FUNDS INC
 
Employer identification number

94-6050341
Part I
Identification of Disregarded Entities Complete if the organization answered "Yes" on Form 990, Part IV, line 33.
(a)
Name, address, and EIN (if applicable) of disregarded entity


(b)
Primary activity


 		(c)
Legal domicile (state
or foreign country)

 		(d)
Total income


 		(e)
End-of-year assets


 		(f)
Direct controlling
entity










Part II
Identification of Related Tax-Exempt Organizations Complete if the organization answered "Yes" on Form 990, Part IV, line 34 because it had one or more related tax-exempt organizations during the tax year.
(a)
Name, address, and EIN of related organization


(b)
Primary activity


 		(c)
Legal domicile (state
or foreign country)

 		(d)
Exempt Code section


 		(e)
Public charity status
(if section 501(c)(3))

 		(f)
Direct controlling
entity

 		(g)
Section 512(b)(13) controlled entity?
Yes No
(1) NORTHWEST EDUCATION LOAN ASSOCIATION
PO BOX 6028

INDIANAPOLIS,IN462066028
91-1068278 		STUDENT LOAN GUARANTOR WA 501(C)(3) 9 UNITED STUDENT AID FUNDS INC
 
Yes
 
(2) EDUCATION AT WORK
4850 SMITH ROAD

CINCINNATI,OH45212
45-4035038 		STUDENT EMPLOYMENT OPPORTUNITIES OH 501(C)(3) 9 UNITED STUDENT AID FUNDS INC
 
Yes
 
(3) USA FUNDS INC
9998 CROSSPOINT BLVD STE 400

INDIANAPOLIS,IN462563307
47-3044430 		PARENT COMPANY DE 501(C)(3) 11C, III-FI N/A
 
No








For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50135Y
Schedule R (Form 990) 2014
Schedule R (Form 990) 2014
Page 2
Part III
Identification of Related Organizations Taxable as a Partnership Complete if the organization answered "Yes" on Form 990, Part IV, line 34 because it had one or more related organizations treated as a partnership during the tax year.
(a)
Name, address, and EIN of
related organization



 		(b)
Primary activity




 		(c)
Legal
domicile
(state or foreign
country)


 		(d)
Direct controlling
entity



 		(e)
Predominant income(related, unrelated, excluded from tax under sections 512-514)

(f)
Share of total income




 		(g)
Share of end-of-year
assets



 		(h)
Disproprtionate allocations?




 		(i)
Code V-UBI
amount in box 20 of
Schedule K-1
(Form 1065)
 		(j)
General or
managing
partner?



 		(k)
Percentage
ownership
Yes No Yes No












Part IV
Identification of Related Organizations Taxable as a Corporation or Trust Complete if the organization answered "Yes" on Form 990, Part IV, line 34 because it had one or more related organizations treated as a corporation or trust during the tax year.
(a)
Name, address, and EIN of
related organization
 		(b)
Primary activity
 		(c)
Legal
domicile
(state or foreign
country)
 		(d)
Direct controlling
entity
 		(e)
Type of entity
(C corp, S corp,
or trust) 		(f)
Share of total income
 		(g)
Share of end-of-year
assets
 		(h)
Percentage
ownership
 		(i)
Section 512(b)(13) controlled entity?
Yes No












Schedule R (Form 990) 2014
Schedule R (Form 990) 2014
Page 3
Part V
Transactions With Related Organizations Complete if the organization answered "Yes" on Form 990, Part IV, line 34, 35b, or 36.
Note. Complete line 1 if any entity is listed in Parts II, III, or IV of this schedule.
Yes
No
1 During the tax year, did the orgranization engage in any of the following transactions with one or more related organizations listed in Parts II-IV?
a Receipt of (i) interest, (ii) annuities, (iii) royalties, or (iv) rent from a controlled entity . . . . . . . . . . . . . . . . . . . . . . .
1a
Yes
 
b Gift, grant, or capital contribution to related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1b
 
No
c Gift, grant, or capital contribution from related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1c
 
No
d Loans or loan guarantees to or for related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1d
Yes
 
e Loans or loan guarantees by related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1e
 
No
f Dividends from related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1f
 
No
g Sale of assets to related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1g
 
No
h Purchase of assets from related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1h
 
No
i Exchange of assets with related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1i
 
No
j Lease of facilities, equipment, or other assets to related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1j
 
No
k Lease of facilities, equipment, or other assets from related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . .
1k
 
No
l Performance of services or membership or fundraising solicitations for related organization(s) . . . . . . . . . . . . . . . . . . . .
1l
Yes
 
m Performance of services or membership or fundraising solicitations by related organization(s) . . . . . . . . . . . . . . . . . . . .
1m
 
No
n Sharing of facilities, equipment, mailing lists, or other assets with related organization(s) . . . . . . . . . . . . . . . . . . . . .
1n
 
No
o Sharing of paid employees with related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1o
 
No
p Reimbursement paid to related organization(s) for expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1p
 
No
q Reimbursement paid by related organization(s) for expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1q
Yes
 
r Other transfer of cash or property to related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1r
Yes
 
s Other transfer of cash or property from related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1s
 
No
2
If the answer to any of the above is "Yes," see the instructions for information on who must complete this line, including covered relationships and transaction thresholds.
(a)
Name of related organization 		(b)
Transaction
type (a-s) 		(c)
Amount involved 		(d)
Method of determining amount involved
(1) EDUCATION AT WORK

 R 6,000,000 FMV
(2) EDUCATION AT WORK

 D 1,450,000 FMV
(3) EDUCATION AT WORK

 A 10,743 FMV
(4) NORTHWEST EDUCATION LOAN ASSOCIATION

 L 110,760 FMV
(5) NORTHWEST EDUCATION LOAN ASSOCIATION

 Q 121,535 COST REIMBURSEMENT

Schedule R (Form 990) 2014
Schedule R (Form 990) 2014
Page 4
Part VI
Unrelated Organizations Taxable as a Partnership Complete if the organization answered "Yes" on Form 990, Part IV, line 37.
Provide the following information for each entity taxed as a partnership through which the organization conducted more than five percent of its activities (measured by total assets or gross revenue) that was not a related organization. See instructions regarding exclusion for certain investment partnerships.
(a)
Name, address, and EIN of entity 		(b)
Primary activity 		(c)
Legal domicile
(state or foreign
country) 		(d)
Predominant income (related, unrelated, excluded from tax under sections 512-514)

(e)
Are all partners
section
501(c)(3)
organizations? 		(f)
Share of total income




 		(g)
Share of
end-of-year
assets 		(h)
Disproprtionate allocations? 		(i)
Code V-UBI
amount in box 20
of Schedule K-1
(Form 1065) 		(j)
General or
managing
partner? 		(k)
Percentage
ownership
Yes No Yes No Yes No






























Schedule R (Form 990) 2014
Schedule R (Form 990) 2014
Page 5
Part VII
Supplemental Information
Provide additional information for responses to questions on Schedule R (see instructions).
Return Reference Explanation
Schedule R (Form 990) 2014
Additional Data


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