Ascendium Education Solutions Inc.

“Ascendium Education Group Inc.(GROUP), a nonprofit 501(c)(3) corporation, is the sole member of Ascendium Education Solutions, Inc. (SOLUTIONS). By authority granted in SOLUTIONS's adopted Articles of Incorporation, GROUP as the sole member, appoints SOLUTIONS's Board members.”

“Ascendium Education Group, Inc. (GROUP), a nonprofit 501(c)(3) corporation, as sole member of Ascendium Education Solutions, Inc.(SOLUTIONS), has the authority provided by Wis. Stats. Chapter 181 to approve certain actions related to merger, conversion, sale of assets and dissolution.”

“On an annual basis, the Chairman of the Board, President and CEO, the Audit Committee and Board review the Form 990 prior to filing. The conflicts of interest questionnaires are completed by each director and reviewed prior to filing the Form 990.”

“Annually, directors and officers sign a conflict of interest document which discloses any conflicts. The signed documents are reviewed annually by the chairman of the board. If a disclosed conflict occurs, the individual abstains from discussion and voting on topics where a conflict of interest exists. All directors, officers and employees are subject to the Human Resources Code of Ethics to maintain the highest ethical and legal standards of business conduct.”

“The compensation of the ceo and all of the officers is determined annually by the personnel policy committee of the board of directors. The ceo is routinely excused and abstains from discussion and/or voting on any matters related to his own compensation and benefits. The personnel policy committee's report is submitted to the board of directors for approval. The decisions are documented in the board minutes. Every two to three years, an independent compensation study is performed.”

“(1) Directors normally attend 3-4 board meetings and 3-4 committee meetings per year in addition to telephonic conferences and individual meetings with officers. Directors devote an average of 1-3 hours per week to their position(s). (2) Inside directors are not eligible for Board compensation. (3) Non-operating officer position not separately compensated.”

“Federal law does not require that such documents be made publicy available. Documents are available upon specific request.”

“Costs are charged to the applicable managing area and then further allocated to supporting services and programs that each area supports. Costs are allocated to supporting services and programs based on estimates made by management, taking into account the nature of the expense and how it relates to the functional areas. Costs are typically allocated based on resources used or time and effort. 2019 allocations made from Ascendium Education Group, Inc. to Ascendium Education Solutions, Inc. are as follows: Ascendium Education Solutions, Inc. $34,977,686”

“Operating fund contribution transfer to ($50,000,000) Ascendium Education Group, Inc. ______________ Total ($50,000,000)”

“Description:dues and memberships total expenses:71587 program services:71587 management and general:fundraising:”

“Description:miscellaneous total expenses:3677535 program services:3677535 management and general:fundraising:”

“Description:discount rehab loans total expenses:38098528 program services:38098528 management and general:fundraising:”

“Description:it consultant / support total expenses:11174 program services:11174 management and general:fundraising:”

“Description:third party servicer expenses total expenses:8663253 program services:8663253 management and general:fundraising:”

“Description:skiptracing service expense total expenses:12038 program services:12038 management and general:fundraising:”