Iowa Student Loan Liquidity Corporation
To help Iowa students and families obtain the resources necessary to succeed in postsecondary education.
Iowa Student Loan Liquidity Corporation at a glance
In short: Iowa Student Loan Liquidity Corporation gave $685K across 1 grant in 2025 (avg $685K), mostly in Iowa. Source: 2025 IRS Form 990.
- Annual giving (2025)
- $685,330
- +0.0% vs 2024
- Grants made (2025)
- 1
- +0.0% vs 2024
- Average grant
- $685,330
- +0.0% vs 2024
- Median grant
- $685,330
- Total assets
- $1,556,680,786
- -4.5% vs 2024
- Primary geography
- Iowa (100% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990, 2025 View filing
Data from IRS Form 990, 2025; updated September 2026.
How to apply to Iowa Student Loan Liquidity Corporation
Open Grants
2 open opportunities from Iowa Student Loan Liquidity Corporation
Who Iowa Student Loan Liquidity Corporation funds
How this funder distributes its grants
Top Recipients
Top recipient in 2025
The largest 2025 recipient was Iowa College Access Network ($685K).
Grant Size Distribution
5 grants across all recorded years
The most common grant size was in the $500K–1M range: 5 grants of 5 (100%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of the 2025 grant dollars on its one itemized grant.
States
Cities
How Iowa Student Loan Liquidity Corporation gives
- Giving held roughly steady from 2022 to 2025 (−2%). Method
From the foundation's IRS Form 990 filings. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2019 to 2025, annual grant giving ranged from $685K (2023) to $950K (2019). In 2025 it made 1 grant totaling $685K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Iowa College Access Network Hiawatha, IA | General Support | $685,330 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Net Investment Income |
|---|---|---|---|---|---|---|
| 2025 | $1,556,680,786 | $100,112,915 | $95,497,550 | $685,330 | 1 | $10,342,355 |
| 2024 | $1,629,996,277 | $115,426,491 | $107,991,674 | $685,000 | 1 | $11,732,920 |
| 2023 | $1,743,077,766 | $101,452,446 | $103,486,049 | $685,000 | 1 | $6,072,510 |
| 2022 | $1,901,708,317 | $50,621,901 | $63,703,769 | $700,000 | 1 | $252,661 |
| 2021 | $1,230,053,718 | $45,688,659 | $60,719,227 | $765,000 | 1 | $347,601 |
| 2020 | $1,307,508,535 | $64,909,561 | $79,151,403 | $900,000 | 1 | $2,605,459 |
| 2019 | $1,332,262,692 | $72,469,069 | $87,375,106 | $950,000 | 1 | $2,561,370 |
About Iowa Student Loan Liquidity Corporation
Based on IRS filings
Iowa Student Loan Liquidity Corporation is a public charity focused on Education, based in West Des Moines, IA. IRS filing data is available from 2019 through 2025. As of 2025, the organization holds $1.6B in total assets. In 2025, it awarded 1 grant totaling $685K. Net investment income was $10.3M.
Focus Areas
Leadership & Key People
Officers and directors from IRS filings
Iowa Student Loan Liquidity Corporation is led by Steve McCullough, President & CEO on every filing since 2019; all 22 officers listed in 2025 are compensated.
Officers on the 2025 filing
Steve McCullough
President & CEO
On filings since 2019
40 hrs/week
$418K (2019) → $458K (2025)
Christine Hensley
Board Chairperson
On filings since 2019
1 hr/week
$18K (2019) → $22K (2025)
Marsha Boender
Director, Lender & School Serv
Director, Lender & School Serv. → Director, Lender & School Serv, 2025
On filings since 2019
40 hrs/week
$156K (2019) → $175K (2025)
Adam Voigts
Board Member
Board Member → Board of Director, 2021
Board of Director → Board Member, 2022
On filings since 2019
1 hr/week
$12K (2019) → $13K (2025)
Cindy Bartz
CIO, Proj Management Senior Vice President & Secretary
CIO & Proj Management Vice President → CIO, Proj Management Senior Vice President & Secretary, 2024
On filings since 2019
40 hrs/week
$200K (2019) → $286K (2025)
Daniel Clute
Board Member
Board Member → Board of Director, 2021
Board of Director → Board Member, 2022
On filings since 2019
1 hr/week
$11K (2019) → $15K (2025)
Erin Lacey
Executive Vice President & Treasurer
Executive Vice President & Treasurer → Evo & Treasurer, 2024
Evo & Treasurer → Executive Vice President & Treasurer, 2025
On filings since 2019
40 hrs/week
$248K (2019) → $313K (2025)
Greg Nichols
Senior Pub Affairs & Committee Rel Vice President
On filings since 2019
40 hrs/week
$188K (2019) → $156K (2025)
Jim Schipper
Board Member
Board Member → Board of Director, 2021
Board of Director → Board Member, 2022
On filings since 2019
1 hr/week
$11K (2019) → $10K (2025)
Marc Hendel
Senior Researcher & Data Manager
On filings since 2019
40 hrs/week
$193K (2019) → $179K (2025)
Marcia Rogers
Board Member
Board Member → Board of Director, 2021
Board of Director → Board Member, 2022
On filings since 2019
1 hr/week
$8K (2019) → $11K (2025)
Rob Denson
Board Member
Board Member → Board of Director, 2021
Board of Director → Board Member, 2022
On filings since 2019
1 hr/week
$8K (2020) → $11K (2025)
Ron Foresman
Accounting & Risk Management Vice President
On filings since 2019
40 hrs/week
$211K (2019) → $255K (2025)
Scott Schneidermann
Board Vice Chairperson
Board of Director → Board Member, 2022
Board Member → Board Vice Chairperson, 2024
On filings since 2019
1 hr/week
$12K (2019) → $15K (2025)
Shawn J. Smith
Lead Database Administrator
On filings since 2019
40 hrs/week
$142K (2019) → $161K (2025)
Nancy Dunkel
Board Member
Board Member → Board of Director, 2021
Board of Director → Board Member, 2022
On filings since 2020
1 hr/week
$3K (2020) → $12K (2025)
Julie Pingel
Board Member
On filings since 2022
1 hr/week
$4K (2022) → $11K (2025)
Chad Winter
Information Technology Manager
On filings since 2023
40 hrs/week
$162K (2023) → $176K (2025)
Juan Garcia
Board Member
On filings since 2023
1 hr/week
$5K (2024) → $11K (2025)
Kory Michael
Tech Serv & Operation Manager
On filings since 2024
40 hrs/week
$155K (2024) → $174K (2025)
Suzette Radke
Board Member
On filings since 2024
1 hr/week
$5K (2024) → $12K (2025)
Jen Hempel
Compl & Communications Vice President
New on the 2025 filing
40 hrs/week
$152K (2025)
Former officers (9)
- Former: Ron Forseman (2024) — Accounting & Risk Management Vice President
- Former: Laurie Hempin (2019–2023) — Board of Director
- Former: Mary Kay Debolt (2019–2023) — Senior Operations Vice President & Secretary
- Former: Tammy Bramley (2019–2023) — Board Vice Chairperson
- Former: Bryan Phillips (2023) — Senior Software Developer
- Former: Chi-Ming J. Lin (2019–2022) — Chief Technical Architect
- Former: Chris Hammerstrom (2019–2022) — Prod. Development Director
- Former: Lorraine Groves (2019–2021) — Board of Director
- Former: Mark Braun (2019) — Board Member
Data from IRS Form 990 filings, 2019–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2025 IRS filing
The highest reported compensation on the 2025 filing was $458K, to Steve McCullough (President and CEO). 22 officers or directors reported compensation on that filing.
Frequently asked questions about Iowa Student Loan Liquidity Corporation
How much does Iowa Student Loan Liquidity Corporation give each year?
Iowa Student Loan Liquidity Corporation gave $685K across 1 grant in 2025, according to its 2025 IRS Form 990. In 2024 it gave $685K across 1 grant.
How large is Iowa Student Loan Liquidity Corporation?
Iowa Student Loan Liquidity Corporation reported $1.6B in total assets on its 2025 IRS Form 990. Its revenue that year was $100.1M.
What is Iowa Student Loan Liquidity Corporation?
Iowa Student Loan Liquidity Corporation is a public charity focused on Education, based in West Des Moines, IA. It holds $1.6B in total assets as of 2025.
Where does Iowa Student Loan Liquidity Corporation operate?
Iowa Student Loan Liquidity Corporation has awarded grants in Iowa.
What is Iowa Student Loan Liquidity Corporation's EIN?
Iowa Student Loan Liquidity Corporation's EIN (Employer Identification Number) is 42-1137531. IRS Form 990 filing data is available on this page for 2019–2025.
Data last updated September 2026. Sourced from IRS Form 990 filings.
Data update history
(8)
When this profile's IRS filing data changed on Grantable
- Updated Form 990 for fiscal year 2021 (received by the IRS May 10, 2022)
- Updated Form 990 for fiscal year 2022 (received by the IRS May 15, 2023)
- Updated Form 990 for fiscal year 2023 (received by the IRS May 14, 2024)
- Updated Form 990 for fiscal year 2024 (received by the IRS May 14, 2025)
- Updated Form 990 for fiscal year 2019 (received by the IRS April 29, 2020)
- Updated Form 990 for fiscal year 2020 (received by the IRS April 21, 2021)
- Added Form 990 for fiscal year 2025 (received by the IRS May 15, 2026)
- IRS filings on file for fiscal years 2019–2024
Explore Open Grants
Browse active grant opportunities in Iowa Student Loan Liquidity Corporation's focus areas in our free grants database
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Iowa Student Loan Liquidity Corporation down — hundreds of funders to go?