2020-07-15T11:15:30-04:00 2019-06-30 463916466 Jaramillo Accounting Group LLC 4700 Lincoln Road NE Albuquerque NM 87109 990 2018-07-01 850291313 NEW MEXICO EDUCATIONAL ASSISTANCE FOUNDATION NEWM PO BOX 27020 ALBUQUERQUE NM 871257020 BRAD ALLPASS PRESIDENT CEO 5057612063 2020-07-14 true Audrey J Jaramillo P01786993 5053232035 2020-07-15 184.171.130.253 2020-07-15 11:18:20 85335720201973uuo1ug 2020-07-15 P 40C13A37B1F310456505181B4652DB8918BFD1BC 40C13A37B1F310456505181B4652DB8918BFD1BC 2018 2021-01-29 14:40:06Z BRAD ALLPASS 24870546 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 5 101 25768 25768 0 22767418 23819763 585633 1050783 0 23353051 24870546 0 0 6735906 6188275 0 0 18187943 18931132 24923849 25119407 -1570798 -248861 531385069 462546998 426531162 358103126 104853907 104443872 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 19370398 22842435 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 06-30-2019 WAS 71,272. 977328 977328 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. 20347726 true false false true false false false false true false true false true false 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 5810 0 101 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 BRAD ALLPASS PRESIDENT CEO 5057612063 PO BOX 27020 ALBUQUERQUE NM 871257020 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 EILEEN GIVLER SECRETARYTREASURER 2.00 0.00 X X 0 0 0 PAULINE GARCIA DIRECTOR 2.00 0.00 X 0 0 0 JULIE FILATOFF DIRECTOR 2.00 0.00 X 0 0 0 MICHAEL NEMELKA PRESIDENT 30.00 10.00 X 176032 0 39975 BRAD ALLPASS VICE PRESIDENT FINANCE 30.00 10.00 X 169016 0 16527 GRACE TACKMAN ASST VICE PRESIDENT ADMIN S 30.00 10.00 X 110937 0 33006 REGINALD STORMENT GENERAL COUNSEL 30.00 10.00 X 131378 0 27109 LUCAS COVINGTON ASST VICE PRESIDENT INFO TE 30.00 10.00 X 145718 0 12484 733081 0 129101 5 true true false DATA PRINT 5201 VENICE AVE SE SUITE E ALBUQUERQUE NM 87113 OUSTIDE MAIL SERV 349443 1 STUDENT LOAN INTEREST 900099 20042851 20042851 LATE AND LEGAL FEES 900099 355892 355892 SERVICE FEES 900099 1190067 1190067 OTHER REVENUE 900099 1861846 1774553 25768 61525 369107 369107 23819763 1050783 1050783 24870546 23732470 25768 1112308 844982 633736 211246 4067851 2269323 1798528 201012 201012 731971 729455 2516 342459 159326 183133 57024 57024 60518 60518 853120 268881 584239 38824 14232 24592 451905 379741 72164 547116 547116 291199 291199 46932 14928 32004 12827730 12827730 570567 570567 135823 135823 US DEPT OF EDUCATION FEES 1903506 1903506 STUDENT LOAN RELATED COSTS 203259 203259 TRUST EXPENSES 256282 256282 BAD DEBT EXPENSE 687327 687327 25119407 20347726 4771681 0 2367 5310 13181411 13607036 6809 30647 438354131 371207212 1051275 1048162 14619299 9923589 4865864 4695710 927592 55413500 51027119 18509712 19998210 531385069 462546998 3271582 3120661 278839000 229299000 13595355 2500000 130825225 123183465 426531162 358103126 X 104853907 104443872 104853907 104443872 531385069 462546998 -248861 -161174 0 X false true X true true true X 122784 122784 21876204 20868094 21648986 22767418 23819763 110980465 21998988 20868094 21648986 22767418 23819763 111103249 111103249 52779 202059 265674 585633 1050783 2156928 52779 202059 265674 585633 1050783 2156928 22051767 21070153 21914660 23353051 24870546 113260177 0.98100 0.98980 0.02000 0.01000 X false true false false false false true 11176 false false 11176 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 6906532 3557931 3348601 2535927 2322825 213102 4165320 4042833 122487 4695710 SILVER MOUNTAIN INVESTMENT 927592 F 927592 TRUSTEE LOAN PROGRAM FUNDS 51026902 F FIDELITY MONEY MARKET 217 F 51027119 TAXABLE BONDS OS 122001000 SPECIAL ALLOWANCE PAYABLE 213168 OTHER DEFERRED GAIN 621526 BOND PREMIUM 347771 123183465 24781780 24781780 88766 88766 24870546 25119407 25119407 25119407 Other revenues included on Form 990 (Part XI, line 4b) DECREASE IN FMV OF DERIVATIVE INSTRUMENT $88,766 X X X X false false false false false false false false false MICHAEL NEMELKA PRESIDENT 176032 39975 216007 BRAD ALLPASS VICE PRESIDENT FINANCE 169016 16527 185543 LUCAS COVINGTON ASST VICE PRESIDENT INFO TECH 145718 12484 158202 REGINALD STORMENT GENERAL COUNSEL 131378 27109 158487 A NM EDUCATIONAL ASSIST FDN 850291313 647110FC4 2010-09-22 198700000 EDUCATION LOAN BONDS false true false B NM EDUCATIONAL ASSIST FDN 850291313 647110FE0 2010-12-15 167300000 EDUCATION LOAN BONDS false true false C NM EDUCATIONAL ASSIST FDN 850291313 000000000 2016-12-15 16500000 EDUCATION LOAN BONDS false true false D NM EDUCATIONAL ASSIST FDN 850291313 647110CP8 2003-10-09 89590000 EDUCATION LOAN BONDS false true false A 136390000 198817887 1385558 196682329 2010 true false true true B 113500000 167300136 1010973 165453163 2010 true false true true C 6866000 16500000 125000 16275000 2016 true false true true D 79590000 92765233 579000 632743 91553490 2005 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 false true A false true true true ROYAL BANK OF CANADA 11 false false false false true B false true true false false false true C false true true false false false true D false true true false false false true A true B true C true D true General Explanation Attachment ADDITIONAL EDUCATIONAL LOAN BONDS ISSUED BY NMEAF - SEE ATTACHMENT SCHEDULE K, PART IV, ARBITRAGE, LINE 2C:SERIES 2007 ISSUER NAME: NEW MEXICO EDUCATIONAL ASSISTANCE FOUNDATION DATE THE REBATE COMPUTATION WAS PERFORMED: 05/01/2012, 5/1/2017SERIES 2009 ISSUER NAME: NEW MEXICO EDUCATIONAL ASSISTANCE FOUNDATION DATE THE REBATE COMPUTATION WAS PERFORMED: 05/01/2014SERIES 2010-1 AND SERIES 2010-2 ISSUER NAME: NEW MEXICO HIGHER ASSISTANCE FOUNDATION DATE THE REBATE COMPUTATIONS WERE PERFORMED: 5/1/2015PART II, LINE 3: IN ALL CASES - THE DIFFERENCE BETWEEN THE ORIGINAL ISSUE PRICE AND THE NET PROCEEDS IS THE EARNINGS ON INVESTMENTS AND STUDENT LOANS NET OF ANY ARBITRAGE LIABILITY DURING THE PROCEEDS PERIOD. SCHEDULE K - REFUNDING BOND A (2010-1} REFUNDED ALL OR PORTION OF BONDS: ISSUE DATE 06/26/2008SCHEDULE K - REFUNDING BOND B (2010-2} REFUNDED ALL OR PORTION OF BONDS: ISSUE DATE 06/26/2008SCHEDULE K - REFUNDING BOND A (2003} REFUNDED ALL OR PORTION OF BONDS: ISSUE DATES 02/1/1994; 07/15/1994; 03/1/1995;11/1/1995; 09/5/1996; 02/24/1998; 05/18/1999; AND 10/17/2000SCHEDULE K - REFUNDING BOND B (2004} REFUNDED ALL OR PORTION OF BONDS: ISSUE DATES 02/1/1994; 07/15/1994; 03/1/1995;11/1/1995; 09/5/1996; 02/24/1998; 05/18/1999; 10/17/2000; 12/3/2001; AND 12/9/2002SCHEDULE K - REFUNDING BOND D (2009) REFUNDED ALL OR PORTION OF BONDS: ISSUE DATES 11/1/1995; 07/15/1996; 02/24/1998;05/18/1999; 12/3/2001; 10/9/2003; 10/13/2005; AND 07/26/2006 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 AFTER THE INDEPENDENT ACCOUNTANTS HAVE PREPARED THE FORM 990, IT IS SENT TO THE ACCOUNTING DEPARTMENT OF NMEAF WHERE IT IS REVIEWED. THE FORM 990 IS THEN REVIEWED BY THE VICE PRESIDENT OF FINANCE. ALL CHANGES ARE THEN FORWARDED TO THE INDEPENDENT ACCOUNTANT. WHEN COMPLETED, THE FORM 990 IS REVIEWED AGAIN AND THE VICE PRESIDENT OF FINANCE SENDS A COPY TO THE MEMBERS OF THE GOVERNING BODY TO COMMENT. AFTER ALL COMMENTS ARE REVIEWED AND FINAL CHANGES MADE, THE VICE PRESIDENT OF FINANCE WILL ALLOW THE INDEPENDENT ACCOUNTANT TO ELECTRONICALLY FILE THE FORM 990. 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 ENUMERATED BY CONTRACT AND DISCUSSED BY THE BOARD IN EXECUTIVE SESSION. DELIBERATIONS ARE 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. 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 -97847 1321026 1.00000 true true false false false false false false false true true false true false false false false true false false NM STUDENT LOANS GUARANTEE CORP j 102292 LEASE AGREEMENT NM STUDENT LOANS GUARANTEE CORP l 1822953 CONTRACT NM STUDENT LOANS GUARANTEE CORP q 642821 AS INCURRED COLLECTION RECOURCES INC ai 1200 RENT