2021-02-19T06:38:44-06:00 2020-06-30 BKD LLP 14241 DALLAS PARKWAY SUITE 1100 DALLAS TX 75254 990 2019-07-01 203868073 Brazos Education Loan Authority Inc % RICKY TURMAN EVP/COO/CFO/TR BRAZ 2547530915 2600 Washington Ave Waco TX 76710 RICKY TURMAN EVP/COO/CFO/TREASURE 2547530915 2020-11-17 true Jeanette Verrelli P00742631 9727028262 2019 2022-09-23 18:48:47Z RICKY TURMAN 2600 WASHINGTON AVE WACO TX 76710 70060804 false X www.studentloans.com X 2005 TX BRAZOS EDUCATION LOAN AUTHORITY'S MISSION IS TO MAKE EDUCATION A REALITY BY SUPPORTING PROGRAMS AND INITIATIVES TO FINANCE EDUCATIONAL OPPORTUNITIES. 7 7 0 7 0 0 0 0 90112367 69259112 1541094 801692 0 0 91653461 70060804 0 0 0 0 0 0 0 0 0 88304830 69520585 88304830 69520585 3348631 540219 2046820449 1824870580 1751088018 1528596338 295732431 296274242 X BRAZOS EDUCATION LOAN AUTHORITY (BELA) IS A SECONDARY MARKET OF COLLEGE STUDENT LOANS UNDER THE FEDERAL FAMILY EDUCATION LOAN PROGRAM (FFELP). BELA'S MISSION IS TO MAKE EDUCATION A REALITY BY SUPPORTING PROGRAMS AND INITIATIVES TO FINANCE EDUCATIONAL OPPORTUNITIES. false false 69520585 69259112 BRAZOS EDUCATION LOAN AUTHORITY SERVICED OVER 141,000 LOANS TOTALINg OVER $1.7 BILLION UNDER THE TITLE IV FEDERAL FAMILY EDUCATION LOAN PROGRAM (FFELP). THESE LOANS WERE FUNDED THROUGH PERMANENT FINANCINGS. 69520585 true false false 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 true false false false false false false false false false false false false false true true true false false true 1 0 0 false false false false false false false false false false false false X 7 7 false true false false false false false true true false false true true true true true true false false false X RICKY TURMAN EVPCOOCFOTR 2547530915 2600 WASHINGTON AVE WACO TX 76710 THOMAS BEN LITLE PRESIDENT/CEO 1.0 39.0 X 0 663422 66167 RICKY TURMAN EVP/COO/CFO/TREASURER 1.0 39.0 X 0 558431 70150 TAMMY HARRALSON CONTROLLER 1.0 39.0 X 0 212939 54326 DARRELL BROOKS ASSISTANT TREASURER 1.0 39.0 X 0 161313 41293 SUSAN DAVIS SECRETARY 1.0 39.0 X 0 93561 29386 CLAUDE ERVIN DIRECTOR 1.0 8.0 X 0 0 0 BOB CHAMBERS DIRECTOR 1.0 8.0 X 0 0 0 TOM CHASE DIRECTOR 1.0 8.0 X 0 0 0 PETER KULTGEN DIRECTOR 1.0 8.0 X 0 0 0 DR TERRY MANESS DIRECTOR 1.0 8.0 X 0 0 0 MRS JOYCE PACKARD DIRECTOR 1.0 8.0 X 0 0 0 CLEMENT MILAM Director 1.0 8.0 X 0 0 0 0 1689666 261322 0 false true false 0 0 Interest on Student Loans 522294 68716349 68716349 Late Fees 522294 542763 542763 69259112 801692 801692 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 70060804 69259112 801692 0 0 0 0 0 0 0 0 0 0 1937597 1937597 0 0 0 0 0 65666 65666 0 0 0 0 0 0 0 0 45121254 45121254 0 462510 462510 0 Dept of Education Rebate Fee 19560990 19560990 Servicing Expense 2071737 2071737 Trustee Fee Expense 205540 205540 Bad Debt Expense 85995 85995 9296 9296 69520585 69520585 0 0 0 0 32446158 29114000 0 0 0 0 0 0 0 0 1962223286 1744917208 0 0 0 0 0 0 0 0 0 0 0 0 3834024 3371515 48316981 47467857 2046820449 1824870580 3626243 2208744 0 0 0 0 0 0 0 0 0 0 1747461775 1526387594 0 0 0 0 1751088018 1528596338 X 295732431 296274242 0 0 0 0 295732431 296274242 2046820449 1824870580 X 540219 1592 X false true X true true true X 0 0 0 0 0 0 87410636 82743029 85055355 90112367 69259112 414580499 0 0 0 87410636 82743029 85055355 90112367 69259112 414580499 0 0 0 414580499 55110 386612 995061 1541094 801692 3779569 0 55110 386612 995061 1541094 801692 3779569 0 0 87465746 83129641 86050416 91653461 70060804 418360068 0.99097 0.99234 0.00903 0.00766 X 0 0 X 50499814 -19560990 -19560990 70060804 70060804 49959595 49959595 19560990 19560990 69520585 SCHEDULE D, PART X, LINE 2 LIABILITY FOR UNCERTAIN TAX POSITIONS: THE AUTHORITY IS A NOT-FOR-PROFIT PUBLIC BENEFIT CORPORATION WHICH IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(A) OF THE INTERNAL REVENUE CODE AS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3). THE AUTHORITY IS ALSO EXEMPT FROM STATE INCOME TAX. INCOME WHICH IS NOT RELATED TO ITS EXEMPT PURPOSES, LESS APPLICABLE DEDUCTIONS, IS SUBJECT TO FEDERAL INCOME TAXES. THE AUTHORITY HAD NO NET UNRELATED BUSINESS INCOME FOR THE YEARS ENDED JUNE 30, 2020 AND 2019. AS SUCH, NO PROVISION FOR FEDERAL OR STATE INCOME TAXES HAS BEEN PROVIDED IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE AUTHORITY FILES FEDERAL INFORMATION RETURNS IN THE UNITED STATES. THE AUTHORITY MAY BE SUBJECT TO EXAMINATION FOR THE TAX YEAR ENDED JUNE 30, 2017 AND LATER BY THE INTERNAL REVENUE SERVICE. THE AUTHORITY IS NOT CURRENTLY UNDER EXAMINATION FOR ANY OPEN TAX YEAR. THE AUTHORITY FOLLOWS THE ACCOUNTING STANDARD RELATED TO THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN THE AUTHORITY'S FINANCIAL STATEMENTS. THE STANDARD PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. THE AUTHORITY CURRENTLY DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS. SCHEDULE D, PART XI, LINE 2D Reconciliation of Revenue per audited financials with return: Department of Education Rebate Fees $(19,560,990) Schedule D, Part XII, Line 4b Reconciliation of expenses per audited financials with return: Department of Education Rebate Fees $19,560,990 false false false false false false false false false TAMMY HARRALSON CONTROLLER 0 186322 0 19605 0 7012 0 47145 0 7181 0 267265 0 0 THOMAS BEN LITLE PRESIDENT/CEO 0 557723 0 53265 0 52434 0 62254 0 3913 0 729589 0 0 RICKY TURMAN EVP/COO/CFO/TREASURER 0 481591 0 47212 0 29628 0 62693 0 7457 0 628581 0 0 DARRELL BROOKS ASSISTANT TREASURER 0 144138 0 15812 0 1363 0 36446 0 4847 0 202606 0 0 Schedule J, Part I, Line 3 COMPENSATION OF President: THE President IS COMPENSATED BY BRAZOS HIGHER EDUCATION SERVICE CORPORATION, A RELATED ORGANIZATION. THE FOLLOWING METHODS ARE USED TO ESTABLISH THE President'S COMPENSATION BY THE RELATED ORGANIZATION: - INDEPENDENT COMPENSATION CONSULTANT - COMPENSATION SURVEY OR STUDY - APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE FORM 990, PART VI, SECTION A, LINE 1A DELEGATION OF AUTHORITY: THE EXECUTIVE COMMITTEE SHALL CONSIST OF THREE MEMBERS OF THE BOARD OF DIRECTORS. THE EXECUTIVE COMMITTEE SHALL, BETWEEN MEETINGS OF THE BOARD, HAVE ADMINISTRATIVE CONTROL OVER ALL MATTERS OF THE CORPORATION. FORM 990, PART VI, SECTION A, LINE 3 DELEGATION OF DUTIES: BRAZOS EDUCATION LOAN AUTHORITY, INC. (BELA) HAS A CONTRACT WITH BRAZOS HIGHER EDUCATION SERVICE CORPORATION, INC. TO PERFORM MANAGEMENT AND ADMINISTRATION SERVICES ON BELA'S BEHALF. THIS INCLUDES MASTER SERVICING ADMINISTRATION FOR THE OUTSTANDING STUDENT LOANS HELD BY BRAZOS EDUCATION LOAN AUTHORITY, INC. THE SERVICES INCLUDE, BUT ARE NOT LIMITED TO: ACCOUNTING, REPORTING, SERVICING, ORIGINATING, MARKETING, TREASURY, AND COMPLIANCE MONITORING OF THE STUDENT LOANS HELD BY BRAZOS EDUCATION LOAN AUTHORITY, INC. FORM 990, PART VI, SECTION B, LINE 11B PROCESS TO REVIEW FORM 990: THE FORM 990 IS PROVIDED TO SENIOR MANAGEMENT FOR REVIEW. AFTER THIS REVIEW, THE RETURN IS POSTED ON A SECURE WEBSITE FOR REVIEW BY THE BOARD OF DIRECTORS. THE BOARD IS NOTIFIED OF THE POSTING AND ASKED TO PROVIDE COMMENTS OR QUESTIONS. COMMENTS OR QUESTIONS ARE INVESTIGATED AND RESOLVED OR DISCLOSED TO THE BOARD. UPON COMPLETION OF THE PROCESS, THE RETURN IS FILED. FORM 990, PART VI, SECTION B, LINE 12C PROCESS FOR MONITORING CONFLICT OF INTEREST POLICY: THE COMPLIANCE DEPARTMENT PREPARES AND DISTRIBUTES A CONFLICT OF INTEREST QUESTIONNAIRE TO ALL BOARD MEMBERS AND EMPLOYEES ANNUALLY. THE COMPLIANCE DEPARTMENT REVIEWS THE QUESTIONNAIRES AND COMPILES A LIST OF POTENTIAL CONFLICTS FOR REVIEW BY THE AUDIT COMMITTEE, SENIOR MANAGEMENT, AND THE BOARD OF DIRECTORS. POTENTIAL CONFLICTS ARE ASSESSED AND RESOLVED IF DETERMINED TO BE AT RISK. IF A CONFLICT IS FOUND TO EXIST, THE CONFLICTED BOARD MEMBER ABSTAINS FROM VOTING. FORM 990, PART VI, SECTION B, LINE 15 PROCESS FOR DETERMINING COMPENSATION: THE COMPENSATION OF THE CEO (OR EXECUTIVE DIRECTOR, AS APPLICABLE), OFFICERS, AND KEY EMPLOYEES OF THE BRAZOS EDUCATION LOAN AUTHORITY, INC. IS PAID BY A RELATED ORGANIZATION, AND IS DETERMINED UNDER THE POLICIES OF THE RESPECTIVE RELATED ORGANIZATION. FORM 990, PART VI, SECTION C, LINE 19 PROCESS FOR MAKING DOCUMENTS AVAILABLE: THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. Form 990, Part XI, Line 9 Other changes in fund balances: Estate Contribution $369,597 Estate Distribution ($368,005) -------------- Total $1,592 ACAPITA EDUCATION FINANCE CORPORATION PO BOX 1308 WACO TX 76703 742542435 STUD LOANS TX 501(C)(3) 10 NA true BOSQUE HIGHER EDUCATION AUTHORITY INC PO BOX 1308 WACO TX 76703 742534099 STUD LOANS TX 501(C)(3) 10 NA true BRAZOS EDUCATION FOUNDATION INC 2612 WASHINGTON AVE WACO TX 76710 264562436 GRANT MAKING TX 501(C)(3) 7 BHESC true BRAZOS STUDENT FINANCE CORPORATION PO BOX 1308 WACO TX 76703 742356109 STUD LOANS TX 501(C)(3) 10 NA true BRAZOS EDUCATION LENDING CORPORATION 2600 WASHINGTON AVE WACO TX 76710 203870081 STUD LOANS TX 501(C)(3) 10 NA true FEDERATED STUDENT FINANCE CORPORATION 2600 WASHINGTON AVE WACO TX 76710 742536239 STUD LOANS TX 501(C)(3) 10 NA true LLANO HIGHER EDUCATION AUTHORITY INC 2600 WASHINGTON AVE WACO TX 76710 203870219 STUD LOANS TX 501(C)(3) 10 NA true BRAZOS HIGHER EDUCATION SERVICE CORP PO BOX 1308 WACO TX 76703 742129255 STUD LOANS TX 501(C)(3) 10 NA false TEXOMA HIGHER EDUCATION AUTHORITY INC 2600 WASHINGTON AVE WACO TX 76710 203868230 STUD LOANS TX 501(C)(3) 10 NA true BRAZOS HIGHER EDUCATION AUTHORITY INC P O BOX 1308 WACO TX 76703 742099402 STUD LOANS TX 501(C)(3) 10 NA true BRAZOS ACADEMIC LENDING CORPORATION PO BOX 1308 WACO TX 76703 742540458 STUD LOANS TX 501(C)(3) 10 NA true BRAZOS ASSET CORPORATION (BAC) 2600 WASHINGTON AVE WACO TX 76710 300835799 INVESTMENT TX SEE PART VII C-CORPORATION true false true true false false false false false false false false false true false false false false false false BOSQUE HIGHER EDUCATION AUTHORITY INC B 368005 Cash BOSQUE HIGHER EDUCATION AUTHORITY INC C 369597 CASH SCHEDULE R, PART IV IDENTIFICATION OF RELATED ORGANIZATIONS TAXABLE AS CORP OR TRUST: NAME OF RELATED ORGANIZATION: BRAZOS ASSET CORP PRIMARY ACTIVITY: FINANCE-TRANS INVOLVING CREATION/LIQUIDATION/OWNERSHIP OF FINANCIAL ASSETS DIRECT CONTROLLING ENTITY: BRAZOS HIGHER EDUCATION SERVICE CORPORATION