2023-05-09T18:29:03-04:00 2022-06-30 463916466 Jaramillo Accounting Group LLC 4700 Lincoln Road NE Albuquerque NM 87109 990 2021-07-01 850291313 NEW MEXICO EDUCATIONAL ASSISTANCE FOUNDATION NEWM PO BOX 27020 ALBUQUERQUE NM 871257020 TRACY ROWE ASSISTANT VP OF 5057612063 2023-05-09 true TRACY ROWE SCOTT ELIASON P02372673 5053232035 2023-05-09 0 00 AAL2 IAL1 2021 2023-04-26 12:10:37Z BRAD ALLPASS 93845861 false X WWW.NMEAF.ORG X 1981 NM PROMOTE THE PUBLIC WELFARE AND PROSPERITY OF THE PEOPLE OF NEW MEXICO BY STIMULATING THE AVAILABILITY OF FINANCIAL ASSISTANCE FOR POST-SECONDARY EDUCATION SO AS TO GIVE GREATER HIGHER EDUCATION OPPORTUNITY. 5 5 74 5 97664 202 17402 810536 13933601 12302763 38673 -790205 0 13989676 12323094 0 0 5356020 4678460 0 0 9376047 10233699 14732067 14912159 -742391 -2589065 354396919 349128881 251197379 248451793 103199540 100677088 PROMOTE THE PUBLIC WELFARE AND PROSPERITY OF THE PEOPLE OF NEW MEXICO BY STIMULATING THE AVAILABILITY OF FINANCIAL ASSISTANCE FOR POST-SECONDARY EDUCATION SO AS TO GIVE GREATER HIGHER EDUCATION OPPORTUNITY. false false 8834765 10158887 STUDENT LOAN PROGRAMS: ORIGINATE, PURCHASE AND SERVICE STUDENT LOANS. PROGRAM SERVICE EXPENSE AMOUNTS INCLUDE COST OF INTEREST ON DEBT ISSUED TO FUND LOANS. THE NUMBER OF OUTSTANDING LOANS ON 06/30/2022 WAS 45,779. 1296972 1296972 STUDENT LOAN PROGRAMS: PROVIDE ADMINISTRATIVE SERVICE FOR THE NEW MEXICO STUDENT LOAN GUARANTEE CORPORATION, FUNCTIONING AS THE GUARANTY AGENCY UNDER THE GUARANTEED STUDENT LOAN PROGRAM (FEDERAL FAMILY EDUCATION LOAN PROGRAM). 201602 716637 DEFAULT FFELP COLLECTIONS: COLLECTING ON LOANS THAT WERE DEFAULTED IN THE FFELP PROGRAM. COUNSEL AND WORK WITH BORROWERS TO BRING THEM BACK INTO GOOD STANDING AND REHABILITATE THEIR LOANS WHENEVER POSSIBLE. 10333339 true true false true false false false false true false true false true true true false true false false false false false false false false false false false false true true false false false false false false false false false false false false false false false true true true false false true 3730 0 74 true true true false false false false false false false false false false false false false X 5 5 false false false false false true false true true false false true true true true true true true true true true NM X X THE ORGANIZATION 5057612063 PO BOX 27020 Albuquerque NM 871257020 BRAD ALLPASS PRESIDENT & CEO 30.00 10.00 X X 192076 0 15036 REGINALD STORMENT GENERAL COUNSEL 30.00 10.00 X 155482 0 19668 GRACE TACKMAN VICE PRESIDENT ADMIN SERVICE 10.00 30.00 X 135549 0 21077 ESTEVAN MARTINEZ ASST VICE PRESIDENT INFO TE 10.00 30.00 X 117619 0 12644 LOIS FORT DIRECTOR OF OPERATIONS 30.00 10.00 X 106434 0 11797 TRACY ROWE ASST VICE PRESIDENT OF FINAN 30.00 10.00 X 97475 0 14244 ANDREW JACOBSON DIRECTOR 2.00 0.00 X 0 0 0 PAULINE GARCIA DIRECTOR 2.00 0.00 X 0 0 0 ALEX HEUBECK DIRECTOR 2.00 0.00 X 0 0 0 DAN SALZWEDEL CHAIR 2.00 0.00 X X 0 0 0 JULIE FILATOFF SECRETARYTREASURER 2.00 0.00 X X 0 0 0 GAVIN GILLETTE VICE CHAIR 2.00 0.00 X X 0 0 0 804635 0 94466 5 false true false IT1 SOURCE LLC PO BOX 35146 Seattle WA 981245146 COMPUTER SOFTWARE 314480 DATAPRINT SERVICES VENICE AVE NE Albuquerque NM 87113 COMPUTER SOFTWARE 233038 AVTEX SOLUTIONS PO BOX 856660 Minneapolis MN 55485 TELEPHONE SYSTEM 158875 3 809586 950 810536 STUDENT LOAN INTEREST 900099 14384466 14384466 LATE AND LEGAL FEES 900099 56358 56358 SERVICE FEES 900099 1568782 1568782 OTHER REVENUE 900099 1106882 974752 96462 35668 -4813725 -4813725 12302763 69782 68580 1202 80662780 81522767 -859987 -859987 -859987 12323094 11379226 97664 35668 899101 674326 224775 2787179 1170875 1616304 208285 87480 120805 522615 219498 303117 261280 85718 175562 23388 23388 49515 49515 852440 435459 416981 22613 20297 2316 242699 174965 67734 671120 52347 618773 237029 237029 14054 3242 10812 4669586 4669586 632080 632080 120547 511 120036 US DEPT OF EDUCATION FEES 1384974 1384974 TRUST EXPENSES 1075509 1075509 BAD DEBT EXPENSE 228876 228876 9269 161 9108 14912159 10333339 4578820 0 1200 1200 6201782 19231972 49527 32718 305278304 263988717 741258 489718 15130209 10848623 4331180 4281586 606460 660900 16890534 41116124 20296674 19325946 354396919 349128881 1768924 3431930 166964000 189405000 16149525 66314930 55614863 251197379 248451793 X 103199540 100677088 103199540 100677088 354396919 349128881 -2589065 54440 12173 0 X false true X true true true X 3000 17402 810536 830938 22767418 23819763 18915019 12879478 12171610 90553288 83823 48580 35668 168071 22767418 23819763 19001842 12945460 13017814 91552297 91552297 585633 1050783 583054 35222 68580 2323272 3987 2451 202 6640 585633 1050783 587041 37673 68782 2329912 23353051 24870546 19588883 12983133 13086596 93882209 0.97520 0.97540 0.02000 0.02000 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false true false false false false true 10384 false false 10384 false Activities to influence legislation (Part II-B, lines 1a - 1h) THE NEW MEXICO EDUCATIONAL ASSISTANCE FOUNDATION IS A MEMBER OF THE EDUCATION FINANCE COUNCIL (EFC). EFC IS A NON-PROFIT TRADE ASSOCIATION THAT REPRESENTS STATE BASED STUDENT LOAN SECONDARY MARKET ORGANIZATIONS, INCLUDING SCHOLARSHIP FUNDING CORPORATIONS THROUGHOUT THE COUNTRY. THESE PUBLIC PURPOSE ORGANIZATIONS ARE DEDICATED TO THE SINGLE PURPOSE OF MAKING SURE STUDENTS CAN GET THE MONEY THEY NEED TO GO TO COLLEGE. THE PRESIDENT OF NEW MEXICO EDUCATIONAL ASSISTANCE FOUNDATION ALSO CALLS AND MEETS WITH THE NEW MEXICO STATE LEGISLATURE TO DETERMINE THE STATUS OF LOAN FUNDING IN THE STATE OF NEW MEXICO. false 1011520 1011520 7039030 4415564 2623466 2615707 2298917 316790 4463952 4134142 329810 4281586 COLLECTION RESOURCES INC 660900 F 660900 TRUSTEE LOAN PROGRAM FUNDS 41115907 F FIDELITY MONEY MARKET 217 F 41116124 NET BORROWER INTEREST RECEIVABLE 18439609 NET LATE AND LEGAL FEES RECEIVABLE 651302 INTEREST SUBSIDY RECEIVABLE 137997 LEASES RECEIVABLE 77267 ACCOUNTS RECEIVABLE - CRI 56853 DUE FROM RELATED ORGANIZATIONS -62460 INTEREST RECEIVABLE TRUST 25378 19325946 TAXABLE BONDS OS 46000000 SPECIAL ALLOWANCE PAYABLE 886638 OTHER DEFERRED GAIN 590523 BOND PREMIUM 9327017 BOND DISCOUNT -1423920 LEASE LIABILITY 234605 55614863 12378511 54440 54440 12324071 -977 -977 12323094 14913136 14913136 -977 -977 14912159 Other revenues included on Form 990 (Part XI, line 4b) REIMBURSED EXPENSES ($977) Other expenses included on Form 990 (Part XII, line 4b) REIMBURSED EXPENSES ($977) X X X X false false false false false false false false false BRAD ALLPASS PRESIDENT & CEO 192076 15036 207112 GRACE TACKMAN VICE PRESIDENT ADMIN SERVICE 135549 21077 156626 REGINALD STORMENT GENERAL COUNSEL 155482 19668 175150 A NM EDUCATIONAL ASSIST FDN 850291313 647110FK6 2003-10-09 89590000 EDUCATION LOAN BONDS false true false B NM EDUCATIONAL ASSIST FDN 850291313 647110CV5 2004-04-21 109750000 EDUCATION LOAN BONDS false true false C NM EDUCATIONAL ASSIST FDN 850291313 647110FU4 2021-12-08 173159440 EDUCATION LOAN BONDS false true false A 81470000 92765233 100000 632743 92032490 2005 true false true true B 100290000 112043642 116500 652945 111274197 2005 true false true true C 173159440 11620000 1883770 159655670 2021 true true true true A false false false false false false true B false false false false false false true C false false false false false false true A false true false false false false true B false true false false false false true C false true false false false false true A true B true C true Member election for additional members Part VI line 7a THERE IS ONE MEMBER OF THE BOARD THAT IS A REGENT. Form 990 governing body review Part VI line 11 THE 990 AND 990-T FORMS ARE PREPARED BY THE ACCOUNTING DEPARTMENT AND THEN REVIEWED BY THE VICE PRESIDENT OF FINANCE. THE 990 AND 990-T FORMS ARE THEN SUBMITTED TO THE INDEPENDENT ACCOUNTANTS FOR REVIEW AND INPUT. ANY NECESSARY CHANGES ARE MADE AND THE FORMS ARE AGAIN REVIEWED BY THE VICE PRESIDENT OF FINANCE. WHEN COMPLETED, THE VICE PRESIDENT OF FINANCE SENDS COPIES TO THE MEMBERS OF THE GOVERNING BODY TO COMMENT. AFTER ALL COMMENTS ARE REVIEWED AND FINAL CHANGES ARE MADE, THE VICE PRESIDENT OF FINANCE WILL ALLOW THE INDEPENDENT ACCOUNTANT TO ELECTRONICALLY FILE THE FORM 990 AND THE 990-T. Conflict of interest policy compliance Part VI line 12c TO GUARD AGAINST SITUATIONS INVOLVING A CONFLICT OF INTEREST, ALL DIRECTORS, OFFICERS, AND EMPLOYEES WILL RECEIVE A COPY OF THE NEW MEXICO STUDENT LOANS (NMSL) CODE OF CONDUCT AND MUST COMPLETE AND SIGN AN ANNUAL DISCLOSURE STATEMENT IDENTIFYING HIS OR HER BUSINESS AND/OR PROPERTY AND FINANCIAL INTERESTS IN ANY ORGANIZATION THAT HAS OR IS INTERESTED IN HAVING ANY CONTRACT WITH NMSL. ADDITIONALLY, DIRECTORS, OFFICERS AND EMPLOYEES ARE PROHIBITED FROM USING HIS/HER OFFICIAL STATUS TO INTERFERE WITH A PUBLIC ELECTION, SOLICIT OR COERCE CONTRIBUTIONS FOR POLITICAL PURPOSES, OR USE ORGANIZATIONAL FUNDS FOR A POLITICAL CANDIDATE. AN EMPLOYEE WHO WISHES TO BECOME A CANDIDATE FOR PUBLIC OFFICE MUST HAVE BOARD APPROVAL. ANY CONFLICTS OF INTEREST FOR A DIRECTOR, OFFICER, EMPLOYEE, OR FAMILY MEMBER THEREOF WITH REGARDS TO A FINANCIAL INTEREST OR BUSINESS DEALINGS (UNLESS WITH A DIVISION OF THE STATE OF NEW MEXICO) MUST BE DISCLOSED IN WRITING AND DISCUSSED AT BOARD MEETINGS. THESE DEALINGS ARE TO BE REFLECTED IN THE MINUTES. CEO executive director top management comp Part VI line 15a THE PRESIDENTS SALARY IS SET BY ANALYZING COMPETITORS SALARIES ANNUALLY. SURVEYS ARE CONDUCTED EACH YEAR TO ENSURE THAT THE PRESIDENTS SALARY IS REASONABLE. THE COMPENSATION IS DOCUMENTED IN THE MINUTES AND SUPPORTED BY A PERFORMANCE EVALUATION. EMPLOYEES SALARIES ARE SET BY ANALYZING COMPETITORS SALARIES ANNUALLY. THE COMPENSATION IS ENUMERATED BY AN APPROVED SALARY STRUCTURE WITHIN SET RANGES. DELIBERATIONS BY UPPER MANAGEMENT ARE DOCUMENTED WITH A PERFORMANCE EVALUATION. RAISE POOLS AND TOTAL SALARIES EXPENSE ARE REVIEWED AND APPROVED BY THE BOARD. Other officer or key employee compensation Part VI line 15b EMPLOYEES SALARIES ARE SET BY ANALYZING COMPETITORS SALARIES ANNUALLY. THE COMPENSATION IS ENUMERATED BY AN APPROVED SALARY STRUCTURE WITHIN SET RANGES. DELIBERATIONS BY UPPER MANAGEMENT ARE DOCUMENTED WITH A PERFORMANCE EVALUATION. RAISE POOLS AND TOTAL SALARIES EXPENSE ARE REVIEWED AND APPROVED BY THE BOARD. Governing documents etc available to public Part VI line 19 COPIES OF THE AUDITED FINANCIAL STATEMENTS AND NOTES ARE AVAILABLE UPON REQUEST. GOVERNING DOCUMENTS AND INTERNAL POLICIES ARE NOT MADE AVAILABLE TO THE PUBLIC AT THIS TIME. Other or change in accounting method Part XII line 1 RESTATEMENT DUE TO AOPTION OF GASB 87 LEASES $12,173 General explanation attachment FORM 990, PART IV, QUESTION 24B: TAX EXEMPT BONDS RELATING TO STUDENT LOANS DO NOT HAVE A TEMPORARY PERIOD. FORM 990, PART XII, LINE 2C: THERE HAS BEEN NO CHANGE IN THE PROCESS FOR OVERSIGHT OF THE AUDIT OR SELECTION OF AN INDEPENDENT AUDITOR. FORM 990, PART VII: THE COMPENSATION REPORTED ON THIS SCHEDULE INCLUDES DEDUCTIONS FOR CAFETERIA PLAN DEDUCTIONS. THE CAFETERIA PLAN DEDUCTIONS HAVE BEEN ADDED TO FORM W-2, BOX 5 TO PROPERLY REPORT COMPENSATION. NM STUDENT LOANS GUARANTEE CORP 7400 TIBURON NE ALBUQUERQUE NM 87109 850291314 FFELP STUDENT LOANS NM 501C3 10 N/A false COLLECTION RESOURCES INC 7400 TIBURON NE STE S Albuquerque NM 87109 831642784 DEBT COLLECTION NM NMEAF C Corp 54440 789317 1.00000 true false false false true false false false false false true false true true false true false true false false NM STUDENT LOAN GUARANTEE CORP j 220020 LEASE AGREEMENT NM STUDENT LOAN GUARANTEE CORP l 1194738 CONTRACT NM STUDENT LOAN GUARANTEE CORP q 622977 AS INCURRED COLLECTION RESOURCES INC d 1202 INTEREST ON NOTE COLLECTION RESOURCES INC d 127047 DEBT REPAYMENTS COLLECTION RESOURCES INC o 127738 SHARING OF EMPLOYEES COLLECTION RESOURCES INC q 103601 REIMB - NON-SHARED EMPLOYEE OTH EXP NM STUDENT LOAN GUARANTEE CORP m 12181 CONTRACT