Overview
What is Education Loan Finance Inc?
Education Loan Finance Inc, based in Knoxville, Tennessee, operates as a charitable organization, offering funding for post-secondary student loans and various education programs. With a team of 35 employees, the organization extends its reach beyond just loans, also focusing on financial literacy and granting scholarships. This holistic approach aims to support students in their educational journeys and promote financial well-being.
Official website here: www.corp.elfi.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81%, Three-Star out of Four Star rating from Charity Navigator.
Education Loan Finance Inc demonstrates solid accountability and financial practices, achieving a score of 81% primarily based on its performance in financial management. With a program expense ratio of 95.22%, the organization allocates a significant portion of its resources directly to its charitable activities, indicating a commitment to its mission and efficient use of funds.
The organization has a strong governance structure, with 75% of its board members being independent, which enhances oversight and reduces potential conflicts of interest. Furthermore, it has implemented comprehensive policies, such as a whistleblower policy and a conflict of interest policy, ensuring transparency and ethical management in operations.
While the overall rating reflects a positive standing, the score being derived solely from accountability and finance may suggest limited insight into other aspects of the organization, such as program effectiveness or community impact. Nevertheless, the strong scores in governance and financial practices highlight the organization’s commitment to accountability.
This AI summary has been generated from information found on Charity Navigator.
Is Education Loan Finance Inc legitimate?
Education Loan Finance Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Education Loan Finance Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $2,805,327
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,024,650
For more financial information, click here
Official website here: www.corp.elfi.com
What is the mission statement of Education Loan Finance Inc?
Education Loan Finance Inc is a charitable organization that focuses on providing funding for educational loans and programs. Through its initiatives, ELFI aims to contribute to the financial needs of students pursuing post-secondary education. In addition to loan funding, the organization provides resources for financial literacy to help individuals make informed decisions about their educational debt. Furthermore, ELFI offers grants for scholarships, offering financial relief to deserving students. By providing these essential services, ELFI plays a significant role in enabling access to education for those in need.
Official website here: www.corp.elfi.com
Who is the CEO of Education Loan Finance Inc?
John Arnold Jr is the President/Ceo of Education Loan Finance Inc. The CEO's salary of Education Loan Finance Inc is $1,162,661 and their total compensation is $2,132,882.
Official website here: www.corp.elfi.com
What is the revenue of Education Loan Finance Inc?
Education Loan Finance Inc's revenue in 2022 was $139,396,971.
Official website here: www.corp.elfi.com
Who are the executives of Education Loan Finance Inc and what are their salaries?
The average compensation at Education Loan Finance Inc during 2022 was $109,428. There are 35 employees at Education Loan Finance Inc.
Here are 20 key members and their salaries (Education Loan Finance Inc's CEO's salary is $1,162,661 and their total compensation is $2,132,882):
- Compensation: $1,162,661
- Related: $967,694
- Other: $2,527
- Compensation: $466,638
- Related: $514,310
- Other: $2,527
- Compensation: $371,700
- Related: $570,929
- Other: $8,417
- Compensation: $271,020
- Related: $413,014
- Other: $2,527
- Compensation: $80,365
- Related: $439,465
- Other: $17,777
- Compensation: $302,141
- Related: $0
- Other: $16,360
- Compensation: $25,171
- Related: $196,182
- Other: $12,192
- Compensation: $89,618
- Related: $95,168
- Other: $10,677
- Compensation: $36,012
- Related: $146,490
- Other: $10,279
- Compensation: $183,079
- Related: $0
- Other: $4,465
- Compensation: $165,495
- Related: $0
- Other: $9,680
- Compensation: $36,921
- Related: $118,060
- Other: $9,218
- Compensation: $30,198
- Related: $116,757
- Other: $6,794
- Compensation: $32,767
- Related: $101,307
- Other: $5,923
- Compensation: $70,000
- Related: $0
- Other: $0
- Compensation: $63,000
- Related: $0
- Other: $0
- Compensation: $63,000
- Related: $0
- Other: $0
- Compensation: $63,000
- Related: $0
- Other: $0
- Compensation: $63,000
- Related: $0
- Other: $0
- Compensation: $63,000
- Related: $0
- Other: $0
Official website here: www.corp.elfi.com
Where can I find the form 990 for Education Loan Finance Inc?
Education Loan Finance Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.corp.elfi.com
Learn more at the official website: www.corp.elfi.com
Mission Statement of Education Loan Finance Inc
Education Loan Finance Inc, or ELFI, is a charitable organization that plays a significant role in the educational sector. Its mission is multifaceted, encompassing the provision of funding for post-secondary student loans as well as educational programs. Financial literacy is another essential aspect of ELFI's mission, ensuring that students are well-equipped to manage their financial obligations. Additionally, ELFI grants scholarships to students in need.
ELFI's primary objective is to make higher education more accessible by offering funding solutions for both students and educational institutions. By providing student loans, ELFI enables individuals to pursue their educational goals without being hindered by financial constraints. This, in turn, leads to a more skilled and knowledgeable workforce, contributing positively to society.
Moreover, ELFI's commitment to financial literacy sets it apart from other organizations. Through its educational programs, ELFI equips students with the necessary skills and knowledge to effectively manage their finances. This empowers students not only during their academic journey but also throughout their lives. By instilling sound financial habits, ELFI aims to foster financial stability and independence among its beneficiaries.
Furthermore, ELFI's grants for scholarships provide financial assistance to deserving students who might otherwise be unable to afford higher education. These grants not only help to alleviate financial burdens but also open up opportunities for students to reach their full potential. By investing in the education of its students, ELFI is making a long-term investment in their future and that of their communities.
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Impact
October, 2024
Education Loan Finance Inc. (ELFI) plays a significant role in the educational landscape by providing essential funding for educational loans, enabling students to pursue post-secondary education. By offering financial resources, ELFI helps alleviate the burden of education costs, making higher education more accessible to a broader range of individuals.
Additionally, ELFI is committed to promoting financial literacy, equipping students and families with the knowledge needed to navigate student loans and manage finances effectively. Through their educational programs and grants for scholarships, they not only support students financially but also empower them with the skills necessary for responsible financial management.
Operating out of Knoxville, TN, ELFI enhances educational opportunities while fostering a culture of informed financial decision-making. This dual focus not only addresses immediate funding needs but also aims to cultivate long-term financial stability among future generations. Overall, the impact of Education Loan Finance Inc. extends beyond just funding; it contributes to a more educated, financially literate, and empowered community.
This information is meant to be a general summary of Education Loan Finance Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $19,194,655
- Program Service Revenue: $103,519,052
- Gross Receipts: $139,396,971
Assets and Liabilities:
- Total Assets: $2,133,641,824
- Total Liabilities: $1,518,667,506
- Net Assets: $614,974,318
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST & FEES ON STUDENT LOANS
Revenue
$103,519,052
Organization Details
Founding Year
1994
Phone
(865) 824-3051Principal Officer
John Arnold Jr
Main Address
12700 KINGSTON PIKE, KNOXVILLE, TN, 37934
Website
www.corp.elfi.comNTEE Category
Code: B82 - Education
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