SOUTH CAROLINA STUDENT LOAN CORP

EIN: 570602805 501(c)(3) Public & Societal Benefit

COLUMBIA, SC

Total Revenue
$65,003,840
Total Expenses
$47,614,325
Total Assets
$941,337,493
Net Assets
$616,914,499
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1973
Legal Domicile
SC
Principal Officer
DAVID A SIMON III
Phone
8037980916
Tax Period
2023-07-01 to 2024-06-30

SOUTH CAROLINA STUDENT LOAN CORP, founded in 1973, is a mid-sized nonprofit in the Public & Societal Benefit sector that reported $65.0M in total revenue in fiscal year 2023. Revenue grew 12% year-over-year, indicating healthy expansion. The organization ran a surplus of $17.4M, a strong 27% operating margin.

Mission

THE MISSION OF SCSLC IS TO RECEIVE, DISBURSE, AND ADMINISTER FUNDS FOR EDUCATIONAL PURPOSES. SPECIFICALLY, SCSLC CARRIES OUT THE FUNCTION OF MAKING, HANDLING, AND SERVICING STUDENT LOANS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $55,083,295
Investment Income $9,920,545
Other Revenue $0
TOTAL REVENUE $65,003,840

Expense Breakdown

Grants Paid $1,250,000
Salaries & Benefits $4,133,058
Fundraising Expenses $0
Program Expenses $46,219,441
Other Expenses $42,231,267
TOTAL EXPENSES $47,614,325

Year-over-Year Comparison

2023 2022 Change
Revenue $65,003,840 $58,099,567 +0.1%
Expenses $47,614,325 $47,535,560 +0.0%
Net Income $17,389,515 $10,564,007 +0.6%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

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Liquidity & Cash Position

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Governance

Voting Members
12
Independent Members
10
Employees
37
Volunteers
N/A

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
5
$1,090,382
Total Directors
12
$735,330
Key Employees
4
$744,049
Highest Compensated
4
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
WILLIE JEFFRIES DIRECTOR 1.00
Director
$15,000 $0 $15,000
JAMES THORNTON KIRBY CHAIR 1.00
Officer Director
$30,000 $0 $30,000
GAUTAM S GHATNEKAR DVM PH D DIRECTOR 1.00
Director
$21,669 $0 $21,669
CHARLIE C SANDERS JR DIRECTOR 1.00
Director
$15,000 $0 $15,000
BARBARA F WESTON DIRECTOR 1.00
Director
$13,000 $0 $13,000
RENEE R BROOKS DIRECTOR 1.00
Director
$7,000 $0 $7,000
JASON CASKEY VICE CHAIR 1.00
Officer Director
$30,000 $0 $30,000
NEIL E GRAYSON DIRECTOR 1.00
Director
$23,751 $0 $23,751
A NEILL CAMERON JR DIRECTOR 1.00
Director
$14,000 $0 $14,000
FRED L GREEN III TREASURER 1.00
Officer Director
$26,000 $0 $26,000
DAVID A SIMON III PRESIDENT & CEO, SECRETARY 35.00
Officer Director
$486,554 $49,253 $535,807
OCTAVIA WILLIAMS-BLAKE DIRECTOR 1.00
Director
$4,103 $0 $4,103
BILL BOCHETTE CFO & COO 40.00
Officer
$405,432 $63,143 $468,575
RALPH JONES VP OF LOAN PROGRAMS 35.00
Key Emp
$177,460 $16,742 $194,202
MARSHA KING VP OF OPERATIONS 35.00
Key Emp
$150,318 $13,289 $163,607
CHRISTINE M WOJCIK VICE PRESIDENT OF HUMAN RE 35.00
Key Emp
$170,029 $18,544 $188,573
MELANIE BROOKE THOMAS VICE PRESIDENT OF FINANCE 35.00
Key Emp
$159,653 $38,014 $197,667
CLAIRE ANN GIBBONS EXECUTIVE DIRECTOR OF POWER:ED 40.00
Highest
$146,991 $17,138 $164,129
JOSEPH BUZHARDT DIRECTOR OF BUSINESS INTELLIGENCE 35.00
Highest
$124,255 $42,761 $167,016
WESTON FAIRCLOTH IT-OPERATIONS MANAGER 35.00
Highest
$109,094 $12,529 $121,623
ERICKA GREEN DIRECTOR OF RISK MANAGEMENT 35.00
Highest
$109,890 $13,537 $123,427
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 No data No data No data No data
2024 $65,003,840 $47,614,325 $941,337,493 $17,389,515
2023 $58,099,567 $47,535,560 $1,048,763,389 $10,564,007
2022 $39,287,118 $34,807,348 $1,286,789,803 $4,479,770
2021 $46,347,737 $33,733,584 $1,464,017,759 $12,614,153
2020 $59,459,269 $53,444,713 $1,467,625,940 $6,014,556
2019 $79,980,116 $70,224,552 $1,655,663,840 $9,755,564
2018 $76,103,826 $65,453,475 $1,901,845,733 $10,650,351
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