Nebraska Student Loan Program Inc.

“The foundation for educational services, inc. (fes), a not-for-profit corporation, serves as the sole member of nebraska student loan program, inc. (nslp) and elects nslp's board of directors.”

“The foundation for educational services, inc. (fes), a not-for-profit corporation, serves as the sole member of nebraska student loan program, inc. (nslp) and elects nslp's board of directors.”

“The 990 is prepared by an external auditor, reviewed by staff, and mailed to all board members. The 990 is presented to the audit committee and the board before it is filed.”

“Nslp maintains a comprehensive conflicts of interest policy for directors and officers. The policy exists to identify potential instances in which an individual could obtain a direct or indirect personal gain or advantage to the detriment of the organization, or where an individual's conduct could have an adverse or potentially adverse effect on the interests of the organization. The policy contains an affirmative duty to disclose, as well as a specific process for disclosures of potential conflicts of interest, a protocol in which independent, outside legal counsel is used to evaluate whether a conflict exists, procedures for addressing actual conflicts of interest, and consequences for violations of the conflicts policy. The policy requires all directors and officers to complete and submit an annual conflicts disclosure form to outside legal counsel. In addition, the conflict of interest policy is included in the employee handbook which all employees must acknowledge and agree to abide by.”

“Outside legal counsel undertakes a comprehensive evaluation of the compensation and benefit packages for officers and other affected employees of the organization, comparing the same relevant industry and other market comparables. Counsel then provides to the board of directors a summary of the comparability data, an analysis of the data relative to the organizational employees, and a reasoned opinion concerning this conclusion. The board of directors then confirms and ratifies all compensation/benefits packages, with the decision process properly documented as required by the regulations. On a routine basis, nslp engages an independent compensation specialist to provide data for key positions. This process was last completed in 2022.”

“Public availability of documents, policies, and financial statements: nslp does not make their governing documents, conflict of interest policy, or financial statements available to the public.”

“The board of directors, by resolution adopted by a majority of the directors of office, may designated and appoint one or more committees, each of which shall consist of two or more directors, which committees, to the extent provided in said resolution, shall have and exercise the authority of the board of directors in the management of the corporation; provided, however, that no such committee shall have the authority of the board of directors in reference to amending, altering, or repealing the bylaws; electing, appointing or removing any member of any such committee or any director or officer of the corporation; amending the articles of incorporation; adopting a plan or merger or adopting a plan of consolidation with another corporation; authorizing the sale, lease, exchange or mortgage of all or substantially of the property and assets of the corporation; authorizing the voluntary dissolution of the corporation or revoking proceedings therefor, adopting a plan for distribution of the assets of the corporation; or amending, altering or repealing any resolution of the board of directors which, by its terms, provides that it shall not be amended, altered or repealed by such committee. The designation and appointment of any such committee and the delegation thereto of authority shall not operate to relieve the board of directors or any individual director of any responsibility imposed upon it or him or her by law.”

“The audit oversight process has not changed from prior year.”