Organizations Filed Purposes:
TO BENEFIT MIDWESTERN UNIVERSITY BY PROVIDING FUNDING FOR PRIVATE LOANS TO STUDENTS OF THE UNIVERSITY, AND FOR NEED-BASED SCHOLARSHIP ASSISTANCE.
THE FOUNDATION PROVIDED FUNDS FOR FEDERALLY GUARANTEED LOANS FOR STUDENTS OF THE UNIVERSITY. THESE LOANS WERE FUNDED WITH PROCEEDS FROM PRIOR BONDS ISSUED BY THE FOUNDATION AND WERE SOLD TO A LOAN PURCHASER AT A PREMIUM, WITH THE SALES PROCEEDS BEING USED FOR FURTHER LOANS TO THE UNIVERSITY'S STUDENTS. AFTER THE FEDERALLY GUARANTEED LOAN PROGRAM TERMINATED IN 2010, THE FOUNDATION CONTINUED TO WIND-DOWN THE FFEL PROGRAM LOANS, MAKE PERIODIC DISTRIBUTIONS FOR UNIVERSITY NEED-BASED SCHOLARSHIPS, AND MANAGE FUNDS GENERATED THROUGH THE TERMINATED STUDENT LOAN FINANCING PROGRAM. IN FISCAL YEAR 2014, THE FOUNDATION CREATED A NEW PRIVATE LOAN PROGRAM CALLED THE MIDWESTERN UNIVERSITY PRIVATE LOAN PROGRAM (MPL PROGRAM) THAT HAS BEEN AND WILL CONTINUE TO BE FUNDED THROUGH THE COMBINATION OF INTERNAL EQUITY AND THE ISSUANCE OF TAX-EXEMPT DEBT. THE MPL PROGRAM FUNCTIONS LIKE THE FFEL PROGRAM LOANS IN SOME RESPECTS AND LIKE OTHER PRIVATE LOAN PROGRAMS IN OTHER RESPECTS. UNLIKE LOANS MADE UNDER THE FFEL PROGRAM, LOANS MADE UNDER THE MPL PROGRAM ARE MADE BY THE FOUNDATION DIRECTLY TO STUDENTS AND ARE NOT GUARANTEED BY THE FEDERAL GOVERNMENT. SINCE THE INCEPTION OF THE MPL PROGRAM, THERE HAVE BEEN LOANS AWARDED IN THE AMOUNT OF $43,868,052 AS OF JUNE 30, 2020.
Executives Listed on Filing
Total Salary includes financial earnings, benefits, and all related organization earnings listed on tax filing
| Name | Title | Hours Per Week | Total Salary |
|---|
| Gregory J Gaus | ASSISTANT SECRETARY / SENIOR VP / CFO | 1 | $0 |
| Dean P Malone | VICE PRESIDENT FINANCE | 1 | $0 |
| Warren B Grayson Jd | DIRECTOR | 0.5 | $0 |
| Thomas Eggleston | DIRECTOR | 0.5 | $0 |
| Madeline R Lewis Do | DIRECTOR | 0.5 | $0 |
| Jean L Baxter Jd | DIRECTOR | 0.5 | $0 |
| Kevin D Leahy | CHAIRPERSON/ DIRECTOR | 0.5 | $0 |
| Kathleen H Goeppinger Phd | PRESIDENT/ CEO/ DIRECTOR | 1 | $0 |
| Gerrit A Van Huisstede | VICE CHAIRPERSON / DIRECTOR | 0.5 | $0 |
Data for this page was sourced from XML published by IRS (
public 990 form dataset) from:
https://s3.amazonaws.com/irs-form-990/202101349349300905_public.xml