2021-05-17T17:25:45-04:00 2020-06-30 463916466 Jaramillo Accounting Group LLC 4700 Lincoln Road NE Albuquerque NM 87109 990 2019-07-01 850291313 NEW MEXICO EDUCATIONAL ASSISTANCE FOUNDATION NEWM PO BOX 27020 ALBUQUERQUE NM 871257020 TRACY ROWE ASSISTANT VP OF 5057612063 2021-05-04 true SCOTT ELIASON P02372673 5053232035 2021-05-17 2019 2022-09-23 18:48:47Z BRAD ALLPASS 19955288 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 91 370392 0 3000 23819763 19367047 1050783 585241 0 24870546 19955288 0 0 6188275 5538249 0 0 18931132 14127241 25119407 19665490 -248861 289798 462546998 392805656 358103126 288418878 104443872 104386778 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 13901034 17756542 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 06/30/2020 WAS 60,418. 1158477 1158477 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). 15059511 true false 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 true false false false false false false false false false false false false true true true false false true 5316 0 91 true true true 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 X DAN SALZWEDEL NMEAF CHAIR 2.00 0.00 X X 0 0 0 GAVIN GILLETTE VICE CHAIR 2.00 0.00 X X 0 0 0 JULIE FILATOFF SECRETARYTREASURER 2.00 0.00 X 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 MICHAEL NEMELKA PRESIDENT 30.00 10.00 X 189539 0 41964 BRAD ALLPASS PRESIDENT AND CEO 30.00 10.00 X 178734 0 25374 GRACE TACKMAN ASST VICE PRESIDENT ADMIN S 30.00 10.00 X 124312 0 43168 ESTEVAN MARTINEZ ASST VICE PRESIDENT INFO TE 30.00 10.00 X 116729 0 22013 TRACY ROWE ACTING ASSISTANT VP OF FINANC 30.00 10.00 X 83984 0 22461 REGINALD STORMENT GENERAL COUNSEL 30.00 10.00 X 153529 0 39689 846827 0 194669 5 false true false AVTEX SOLUTIONS LLC PO BOX 856660 Minneapolis MN 554856660 TELEPHONE SYSTEM 259812 IT1 SOURCE LLC PO BOX 35146 Seattle WA 981245146 COMPUTER SOFTWARE 255867 DATAPRINT SERVICES LLC 5201 VENICE AVE NE SUITE E Albuquerque NM 871132337 OUSTIDE MAIL SERV 248617 ONTARIO SYSTEMS 75 REMITTANCE DR SUITE 6100 Chicago IL 606756100 COMPUTER SOFTWARE 103667 DELL MARKETING LP PO BOX 802816 Chicago IL 606756100 COMPUTER SOFTWARE 100319 5 3000 3000 STUDENT LOAN INTEREST 900099 17779267 17779267 LATE AND LEGAL FEES 900099 214368 214368 SERVICE FEES 900099 1711505 1346100 365405 OTHER REVENUE 900099 2203135 2116512 2800 83823 -2541228 -2541228 19367047 585241 583054 2187 19955288 19498073 370392 83823 1041496 781122 260374 3381648 1651501 1730147 199055 199055 619187 4818 614369 296863 122118 174745 45578 45578 58360 58360 862482 385413 477069 84636 14424 70212 382922 318424 64498 542019 525349 16670 255842 255842 21112 592 20520 8893899 8893899 503197 503197 115343 115343 US DEPT OF EDUCATION FEES 1685983 1685983 STUDENT LOAN RELATED COSTS 72177 72177 TRUST EXPENSES 253842 253842 BAD DEBT EXPENSE 349849 349849 19665490 15059511 4605979 0 5310 1200 13607036 7554444 30647 435692 371207212 328952623 1048162 984366 14587223 9904763 4695710 4682460 927592 535529 51027119 28728421 19998210 20930921 462546998 392805656 3120661 2180143 229299000 186134000 2500000 9700000 123183465 90404735 358103126 288418878 X 104443872 104386778 104443872 104386778 462546998 392805656 289798 -346892 0 X false true X true true true X 3000 3000 20868094 21648986 22767418 23819763 18915019 108019280 83823 83823 20868094 21648986 22767418 23819763 19001842 108106103 108106103 202059 265674 585633 1050783 583054 2687203 370392 370392 202059 265674 585633 1050783 953446 3057595 21070153 21914660 23353051 24870546 19955288 111163698 0.97250 0.98100 0.03000 0.02000 X false true false false false false true 12044 false false 12044 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 TRADEASSOCIATION THAT REPRESENTS STATE BASED STUDENT LOAN SECONDARY MARKET ORGANIZATIONS, INCLUDING SCHOLARSHIP FUNDING CORPORATIONSTHROUGHOUT THE COUNTRY. THESE PUBLIC PURPOSE ORGANIZATIONS ARE DEDICATED TO THE SINGLE PURPOSE OF MAKING SURE STUDENTS CAN GET THE MONEYTHEY NEED TO GO TO COLLEGE. THE PRESIDENT OF THE NEW MEXICO EDUCATIONAL ASSISTANCE FOUNDATION ALSO CALLS AND MEETS WITH THE NEW MEXICOSTATE LEGISLATURE TO DETERMINE THE STATUS OF LOAN FUNDING IN THE STATE OF NEW MEXICO. false 1011520 1011520 6962531 3828904 3133627 2473880 2215870 258010 4139292 3859989 279303 4682460 COLLECTION RESOURCES INC 535529 F 535529 TRUSTEE LOAN PROGRAM FUNDS 28728204 F FIDELITY MONEY MARKET 217 F 28728421 NET BORROWER INTEREST RECEIVABLE 18444792 NET LATE AND LEGAL FEES RECEIVABLE 999930 INTEREST SUBSIDY RECEIVABLE 255092 DERIVATIVE INSTRUMENT 978436 NOTES RECEIVABLE - CRI 234856 DUE FROM RELATED ORGANIZATIONS 15019 INTEREST RECEIVABLE TRUST 2796 20930921 TAXABLE BONDS OS 87999000 SPECIAL ALLOWANCE PAYABLE 1573132 OTHER DEFERRED GAIN 676976 BOND PREMIUM 155627 90404735 20000459 45171 45171 19955288 19955288 19665490 19665490 19665490 Other revenues not included on Form 990 (Part XI, line 2d) INCREASE IN FMV OF DERIVATIVE INSTRUMENT $45,171 X X X X false false false false false false false false false MICHAEL NEMELKA PRESIDENT 189539 41964 231503 BRAD ALLPASS PRESIDENT AND CEO 178734 25374 204108 GRACE TACKMAN ASST VICE PRESIDENT ADMIN SERVICE 124312 43168 167480 REGINALD STORMENT GENERAL COUNSEL 153529 39689 193218 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 647110DG7 2007-08-01 113430000 EDUCATION LOAN BONDS false true false D NM EDUCATIONAL ASSIST FDN 850291313 647110DW2 2009-09-16 292170000 EDUCATION LOAN BONDS false true false A 79590000 92765233 579000 632743 91553490 2005 true false true true B 98100000 112043642 1097500 652945 110293197 2005 true false true true C 74030000 114329058 882556 113446502 2008 false false true true D 284140000 303925526 2921863 3484705 297518958 2010 true false 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 D false false false false false true A false true true false false false true B false true true false false false true C false true true false false false true D false true true true ROYAL BANK OF CANADA 11 false false false false true A true B true C true D true General Explanation Attachment SEE ADDITIONAL ATTACHED SCHEDULE K FOR DETAILS ON ADDITIONAL BONDS. 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 990T FORMS ARE PREPARED BY THE ACCOUNTING DEPARTMENT AND THEN REVIEWED BY THE VICE PRESIDENT OF FINANCE. THE 990 AND 990T 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 TO MAIL THE 990T. 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 NMEAF POSTS THE AUDITED FINANCIAL STATEMENTS ON THEIR WEBSITE. AUDITED FINANCIAL STATEMENTS ARE SENT TO DUN AND BRADSTREET AND ARE AVAILABLE THROUGH THAT WEBSITE AS WELL. 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. Part VII response or note to any other line in Part VII ADDITIONAL CLARIFICATION ON PART VII, SECTION A: MICHAEL NEMELKA WAS PRESIDENT OF NMEAF THROUGH JANUARY 31, 2020 AT WHICH TIME HE WAS REPLACED BY BRAD ALLPASS, THE FORMER VICE PRESIDENT OF FINANCE. 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 -374716 1344055 1.00000 true true false false true false false false false false true false true false false false false true false false NM STUDENT LOAN GUARANTEE CORP j 168633 LEASE AGREEMENT NM STUDENT LOAN GUARANTEE CORP l 2332345 CONTRACT NM STUDENT LOAN GUARANTEE CORP q 605137 AS INCURRED COLLECTION RESOURCES INC ai 2800 RENT COLLECTION RESOURCES INC d 250000 LINE OF CREDIT PROM NOTE COLLECTION RESOURCES INC q 44206 AS INCURRED