MONTANA HIGHER EDUCATION STUDENT ASSISTANCE CORPORATION: Form 990, tax year 2019
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- Organization
- MONTANA HIGHER EDUCATION STUDENT ASSISTANCE CORPORATION (EIN 81-0393527)
- Tax period
- 2019-07-01 to 2020-06-30
- Filed
- 2020-10-22
- IRS object ID
- 202012969349301246
- Schema version
- 2019v5.1
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
- Return header
- Form 990
- Schedule A
- Schedule B
- Schedule C
- Schedule D
- Schedule I
- Schedule J
- Schedule L
- Schedule O
- Schedule R
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2020-10-22T15:36:36-05:00 | ReturnTs |
| Tax Period End | 2020-06-30 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 810385940 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ANDERSON ZURMUEHLEN & CO PC | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 1040 | AddressLine1Txt |
| City | HELENA | CityNm |
| State Abbreviation | MT | StateAbbreviationCd |
| ZIP | 59624 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2019-07-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 810393527 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MONTANA HIGHER EDUCATION STUDENT | BusinessNameLine1Txt |
| Business Name Line2 | ASSISTANCE CORPORATION | BusinessNameLine2Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | MONT | BusinessNameControlTxt |
| Phone | 4064957800 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 5209 | AddressLine1Txt |
| City | HELENA | CityNm |
| State Abbreviation | MT | StateAbbreviationCd |
| ZIP | 59604 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | MICHAEL GREEN | PersonNm |
| Person Title | PRESIDENT | PersonTitleTxt |
| Phone | 4064957800 | PhoneNum |
| Signature | 2020-10-08 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | SUZANNE M SEVERIN CPA | PreparerPersonNm |
| PTIN | P00254608 | PTIN |
| Phone | 4064421040 | PhoneNum |
| Preparation | 2020-10-01 | PreparationDt |
Filing Security Information FilingSecurityInformation
IP Address IPAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| I Pv4 Address | 71.92.235.230 | IPv4AddressTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IP | 2020-10-08 | IPDt |
| IP Tm | 15:37:51 | IPTm |
| IP Timezone | MD | IPTimezoneCd |
| Filing License Type | P | FilingLicenseTypeCd |
| At Submission Creation Device Id | DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 | AtSubmissionCreationDeviceId |
| At Submission Filing Device Id | 04FF12387C3F6D0419143FBBF68AE6BA39142790 | AtSubmissionFilingDeviceId |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2019 | TaxYr |
| Build TS | 2021-01-29 14:40:06Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | MICHAEL GREEN | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 5209 | AddressLine1Txt |
| City | HELENA | CityNm |
| State Abbreviation | MT | StateAbbreviationCd |
| ZIP | 59604 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $25,876,349 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | WWW.MHESAC.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1980 | FormationYr |
| Legal Domicile State | MT | LegalDomicileStateCd |
| Activity Or Mission | DEDICATED TO HELPING MONTANA CITIZENS FINANCE AND STRATEGICALLY PURSUE EDUCATIONAL OPPORTUNITIES. | ActivityOrMissionDesc |
| Voting Members Governing Body | 7 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 7 | VotingMembersIndependentCnt |
| Total Employee | 0 | TotalEmployeeCnt |
| Total Volunteers | 88 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $394,952 | PYContributionsGrantsAmt |
| CY Contributions Grants | $463,546 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $30,983,487 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $23,273,739 | CYProgramServiceRevenueAmt |
| PY Investment Income | $574,966 | PYInvestmentIncomeAmt |
| CY Investment Income | $473,442 | CYInvestmentIncomeAmt |
| PY Other Revenue | $0 | PYOtherRevenueAmt |
| CY Other Revenue | $0 | CYOtherRevenueAmt |
| PY Total Revenue | $31,953,405 | PYTotalRevenueAmt |
| CY Total Revenue | $24,210,727 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $391,097 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $506,829 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $12,450 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $12,600 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $33,426,338 | PYOtherExpensesAmt |
| CY Other Expenses | $25,237,920 | CYOtherExpensesAmt |
| PY Total Expenses | $33,829,885 | PYTotalExpensesAmt |
| CY Total Expenses | $25,757,349 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | -$1,876,480 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | -$1,546,622 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $666,466,179 | TotalAssetsBOYAmt |
| Total Assets EOY | $593,255,692 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $579,742,634 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $507,899,623 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $86,723,545 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $85,356,069 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | MHESAC OFFERS BORROWER BENEFITS IN THE FORM OF PRINCIPAL AND INTEREST RATE REDUCTIONS TO EXISTING STUDENT LOAN BORROWERS. ITS REACH HIGHER MONTANA (RHM) PROGRAMS CORE AREAS OF FOCUS ARE COMMUNITY GRANTS, DUAL ENROLLMENT SUPPORT, STUDENT SERVICES, NETWORK SUPPORT AND OUTREACH. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $23,651,845 | ExpenseAmt |
| Revenue | $23,273,739 | RevenueAmt |
| Desc | ACQUISITION AND SERVICING OF GUARANTEED STUDENT LOANS AS A SECONDARY STUDENT LOAN MARKET FOR THE FEDERAL FAMILY EDUCATION LOAN PROGRAM (FFELP). BENEFITS PROVIDED TO BORROWERS THROUGH REBATE, INCENTIVE, AND RATE REDUCTION PROGRAMS TOTALED $655 THOUSAND FOR 9,720 BORROWERS IN FISCAL YEAR 2020. $53 MILLION IN BENEFITS HAVE BEEN PROVIDED TO BORROWERS SINCE INCEPTION OF BORROWER BENEFIT PROGRAMS IN 1996. SINCE INCEPTION, MHESAC HAS PROVIDED MORE THAN $3.7 BILLION IN STUDENT LOANS TO OVER 241,000 BORROWERS. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $726,756 | ExpenseAmt |
| Grant | $68,200 | GrantAmt |
| Desc | REACH HIGHER MONTANA PROVIDES FINANCIAL AND IN-KIND SUPPORT ACCROSS THE STATE, INCLUDING MONTANA COLLEGE ACCESS NETWORK, COMMUNITY GRANTS TO THE COMMUNITIES OF HARDIN AND ALBERTON, AND SPONSORSHIP OF A VARIETY OF PROGRAMS. | Desc |
Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $601,014 | ExpenseAmt |
| Desc | REACH HIGHER MONTANA OUTREACH STAFF SERVED 7,153 MONTANA STUDENTS THROUGH COLLEGE AND CAREER OUTREACH, SCHOLARSHIP WORKSHOPS, SERVICES FOR YOUTH IN FOSTER CARE, DUAL ENROLLMENT AND CAREER FAIRS. | Desc |
Prog Srvc Accom Acty Other ProgSrvcAccomActyOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $445,204 | ExpenseAmt |
| Grant | $438,629 | GrantAmt |
| Desc | IN FISCAL YEAR 2020, REACH HIGHER MONTANA DELIVERED SCHOLARSHIPS AND GRANTS TO 377 MONTANA STUDENTS. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Prog Srvc Expense | $445,204 | TotalOtherProgSrvcExpenseAmt |
| Total Other Prog Srvc Grant | $438,629 | TotalOtherProgSrvcGrantAmt |
| Total Program Service Expenses | $25,424,819 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (1) | DescribedInSection501c3Ind |
| Schedule B Required | Yes (1) | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Lobbying Activities | Yes (1) | LobbyingActivitiesInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | Yes (1) | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | 0 | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | Yes (1) | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | 0 | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | Yes (1) | GrantsToOrganizationsInd |
| Grants To Individuals | Yes (1) | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | 0 | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | 0 | PYExcessBenefitTransInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | Yes (1) | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | 0 | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 14 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 0 | EmployeeCnt |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | 0 | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | 0 | PayPremiumsPrsnlBnftCntrctInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 7 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 7 | IndependentVotingMemberCnt |
| Family Or Business Rln | Yes (1) | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | Yes (1) | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | 0 | MembersOrStockholdersInd |
| Election Of Board Members | Yes (1) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| Own Website | Yes (X) | OwnWebsiteInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | THE ORGANIZATION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 4064957800 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 303 IRENE STREET | AddressLine1Txt |
| City | HELENA | CityNm |
| State Abbreviation | MT | StateAbbreviationCd |
| ZIP | 59601 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (12 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd |
|---|---|---|---|---|---|---|---|
| SCOTT TODOROVICH | |||||||
| CEO MHESAC,PRESIDENT/CEO SAF | 1.00 | 39.00 | Yes (X) | $0 | $169,768 | $27,647 | |
| JOLENE SELBY | |||||||
| CFO MHESAC,VICE PRESIDENT SAF | 15.00 | 25.00 | Yes (X) | $0 | $163,374 | $30,194 | |
| KELLY CRESSWELL | |||||||
| EXECUTIVE DIR MHESAC,VICE PRES SAF | 40.00 | 1.00 | Yes (X) | $0 | $139,821 | $9,176 | |
| KIM CUNNINGHAM | |||||||
| DIRECTOR MHESAC,DIRECTOR-CHAIR SAF | 1.00 | 3.00 | $1,800 | $1,800 | $0 | Yes (X) | |
| TERRY COSGROVE | |||||||
| DIRECTOR MHESAC,DIRECTOR SAF | 1.00 | 1.00 | $1,800 | $1,800 | $0 | Yes (X) | |
| MICHAEL GREEN | |||||||
| DIRECTOR-CHAIR & OFFICER-PRESIDENT | 3.00 | Yes (X) | $1,800 | $0 | $0 | Yes (X) | |
| GEORGE S OLSEN | |||||||
| DIRECTOR&OFFICER-SECRETARY/TREASURER | 3.00 | Yes (X) | $1,800 | $0 | $0 | Yes (X) | |
| SHANNON STOBER | |||||||
| DIRECTOR-VICE CHAIR | 1.00 | $1,800 | $0 | $0 | Yes (X) | ||
| BRIANNE ROGERS | |||||||
| DIRECTOR | 1.00 | $1,650 | $0 | $0 | Yes (X) | ||
| WENDY WIGERT | |||||||
| DIRECTOR | 1.00 | $1,650 | $0 | $0 | Yes (X) | ||
| CLAYTON CHRISTIAN | |||||||
| EX OFFICIO DIRECTOR | 1.00 | $0 | $0 | $0 | Yes (X) | ||
| RON MUFFICK | |||||||
| OFFICER VICE-PRESIDENT | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $12,300 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $476,563 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $67,017 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 3 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp
Contractor Name ContractorName
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | STUDENT ASSISTANCE FOUNDATION | BusinessNameLine1Txt |
Contractor Address ContractorAddress
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 5209 | AddressLine1Txt |
| City | HELENA | CityNm |
| State Abbreviation | MT | StateAbbreviationCd |
| ZIP | 59604 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Services | MGMT & LOAN SERVICES, PROGRAMS DELIVERY | ServicesDesc |
| Compensation | $5,185,392 | CompensationAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 1 | CntrctRcvdGreaterThan100KCnt |
| Government Grants | $416,296 | GovernmentGrantsAmt |
| All Other Contributions | $47,250 | AllOtherContributionsAmt |
| Total Contributions | $463,546 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| INTEREST & SPECIAL ALLOWANCE | 611710 | $23,156,932 | $23,156,932 |
| UNCOLLECTIBLE ACCOUNTS | 611710 | $112,369 | $112,369 |
| LOAN PURCHASE DISCOUNT AMORTIZATI | 611710 | $4,438 | $4,438 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $23,273,739 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $482,004 | TotalRevenueColumnAmt |
| Exclusion | $482,004 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $1,657,060 | SecuritiesAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $1,665,622 | SecuritiesAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | -$8,562 | SecuritiesAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -$8,562 | TotalRevenueColumnAmt |
| Exclusion | -$8,562 | ExclusionAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $24,210,727 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $23,273,739 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $473,442 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part IX | Yes (X) | InfoInScheduleOPartIXInd |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $116,200 | TotalAmt |
| Program Services | $116,200 | ProgramServicesAmt |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $390,629 | TotalAmt |
| Program Services | $390,629 | ProgramServicesAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $12,600 | TotalAmt |
| Management And General | $12,600 | ManagementAndGeneralAmt |
Fees For Services Management FeesForServicesManagementGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,391,422 | TotalAmt |
| Program Services | $2,391,422 | ProgramServicesAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $917 | TotalAmt |
| Management And General | $917 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $876 | TotalAmt |
| Management And General | $876 | ManagementAndGeneralAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $25,528 | TotalAmt |
| Program Services | $25,528 | ProgramServicesAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $127,244 | TotalAmt |
| Program Services | $127,244 | ProgramServicesAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $37,398 | TotalAmt |
| Program Services | $37,387 | ProgramServicesAmt |
| Management And General | $11 | ManagementAndGeneralAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $75,154 | TotalAmt |
| Program Services | $46,725 | ProgramServicesAmt |
| Management And General | $28,429 | ManagementAndGeneralAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $57,260 | TotalAmt |
| Program Services | $40,640 | ProgramServicesAmt |
| Management And General | $16,620 | ManagementAndGeneralAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $70,368 | TotalAmt |
| Program Services | $68,301 | ProgramServicesAmt |
| Management And General | $2,067 | ManagementAndGeneralAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $58,521 | TotalAmt |
| Program Services | $56,724 | ProgramServicesAmt |
| Management And General | $1,797 | ManagementAndGeneralAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $14,485,931 | TotalAmt |
| Program Services | $14,485,931 | ProgramServicesAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,499,537 | TotalAmt |
| Program Services | $1,497,056 | ProgramServicesAmt |
| Management And General | $2,481 | ManagementAndGeneralAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $50,154 | TotalAmt |
| Program Services | $29,245 | ProgramServicesAmt |
| Management And General | $20,909 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt |
|---|---|---|---|
| INCOME TAX | -$259 | -$259 | |
| CONSOLIDATION LOAN FEES | $5,119,910 | $5,119,910 | |
| CONTRACT LABOR | $1,076,112 | $839,451 | $236,661 |
| PROGRAM COSTS | $87,916 | $87,916 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $73,931 | TotalAmt |
| Program Services | $64,769 | ProgramServicesAmt |
| Management And General | $9,162 | ManagementAndGeneralAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $25,757,349 | TotalAmt |
| Program Services | $25,424,819 | ProgramServicesAmt |
| Management And General | $332,530 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $584,454 | BOYAmt |
| EOY | $1,622,890 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $19,114,252 | BOYAmt |
| EOY | $19,025,867 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $9,180,722 | BOYAmt |
| EOY | $10,580,018 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,726,989 | BOYAmt |
| EOY | $7,540,937 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $656,647 | BOYAmt |
| EOY | $45,987 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $612,458,397 | BOYAmt |
| EOY | $539,153,032 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $16,744,718 | BOYAmt |
| EOY | $15,286,961 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $666,466,179 | BOYAmt |
| EOY | $593,255,692 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,935,883 | BOYAmt |
| EOY | $2,334,242 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $577,806,751 | BOYAmt |
| EOY | $505,565,381 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $579,742,634 | BOYAmt |
| EOY | $507,899,623 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $86,723,545 | BOYAmt |
| EOY | $85,356,069 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $86,723,545 | BOYAmt |
| EOY | $85,356,069 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $666,466,179 | BOYAmt |
| EOY | $593,255,692 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | -$1,546,622 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $179,146 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $0 | OtherChangesInNetAssetsAmt |
| Info In Schedule O Part XII | Yes (X) | InfoInScheduleOPartXIIInd |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Publicly Supported Org509a2 | Yes (X) | PubliclySupportedOrg509a2Ind |
Gifts Grants Contris Rcvd509 GiftsGrantsContrisRcvd509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus3 Years | $937,331 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $272,473 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $394,952 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $463,546 | CurrentTaxYearAmt |
| Total | $2,068,302 | TotalAmt |
Gross Receipts Admissions GrossReceiptsAdmissionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $29,232,697 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $28,192,935 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $29,583,997 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $30,983,487 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $23,273,739 | CurrentTaxYearAmt |
| Total | $141,266,855 | TotalAmt |
Total509 Total509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $29,232,697 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $29,130,266 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $29,856,470 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $31,378,439 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $23,737,285 | CurrentTaxYearAmt |
| Total | $143,335,157 | TotalAmt |
Amounts Rcvd Dsqlfy Person AmountsRcvdDsqlfyPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Substantial Contributors Amt SubstantialContributorsAmtGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Subst And Dsqlfy Prsns Tot SubstAndDsqlfyPrsnsTotGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Support Total509 | $143,335,157 | PublicSupportTotal509Amt |
Gross Investment Income509 GrossInvestmentIncome509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $314,663 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $424,352 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $149,078 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $574,966 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $473,442 | CurrentTaxYearAmt |
| Total | $1,936,501 | TotalAmt |
Investment Income And UBTI InvestmentIncomeAndUBTIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $314,663 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $424,352 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $149,078 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $574,966 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $473,442 | CurrentTaxYearAmt |
| Total | $1,936,501 | TotalAmt |
Total Support Calendar Year TotalSupportCalendarYearGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $29,547,360 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $29,554,618 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $30,005,548 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $31,953,405 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $24,210,727 | CurrentTaxYearAmt |
| Total | $145,271,658 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Support CY509 | 0.98670 | PublicSupportCY509Pct |
| Public Support PY509 | 0.98860 | PublicSupportPY509Pct |
| Investment Income CY | 0.01330 | InvestmentIncomeCYPct |
| Investment Income PY | 0.01140 | InvestmentIncomePYPct |
| Thirty Thr Pct Suprt Tests CY509 | Yes (X) | ThirtyThrPctSuprtTestsCY509Ind |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
Schedule C IRS990ScheduleC
| Field | Value | IRS element (for citing) |
|---|---|---|
| Volunteers | 0 | VolunteersInd |
| Paid Staff Or Management | 0 | PaidStaffOrManagementInd |
| Media Advertisements | 0 | MediaAdvertisementsInd |
| Mailings Members | 0 | MailingsMembersInd |
| Publications Or Broadcast | 0 | PublicationsOrBroadcastInd |
| Grants Other Organizations | 0 | GrantsOtherOrganizationsInd |
| Direct Contact Legislators | Yes (1) | DirectContactLegislatorsInd |
| Direct Contact Legislators | $397 | DirectContactLegislatorsAmt |
| Rallies Demonstrations | 0 | RalliesDemonstrationsInd |
| Other Activities | Yes (1) | OtherActivitiesInd |
| Other Activities | $608 | OtherActivitiesAmt |
| Total Lobbying Expenditures | $1,005 | TotalLobbyingExpendituresAmt |
| Not Described Section501c3 | 0 | NotDescribedSection501c3Ind |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART II-B, LINE 1: | FormAndLineReferenceDesc |
| Explanation | EDUCATION FINANCE COUNCIL PORTION OF NONDEDUCTIBLE DUES PAID TO EDUCATION FINANCE COUNCIL THAT WERE ATTRIBUTABLE TO LOBBYING ACTIVITIES. MONTANA HIGHER EDUCATION STUDENT ASSISTANCE CORPORATION IS NOT INVOLVED IN THE MANAGEMENT OF, CONTROLLED BY OR RELATED TO THE EDUCATION FINANCE COUNCIL. $608 LABOR $397 | ExplanationTxt |
Schedule D IRS990ScheduleD
CY Endwmt Fund CYEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $656,646 | BeginningYearBalanceAmt |
| Investment Earnings Or Losses | $3,887 | InvestmentEarningsOrLossesAmt |
| Administrative Expenses | $2,495 | AdministrativeExpensesAmt |
| End Year Balance | $658,038 | EndYearBalanceAmt |
CY Minus1 Yr Endwmt Fund CYMinus1YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $650,949 | BeginningYearBalanceAmt |
| Investment Earnings Or Losses | $5,697 | InvestmentEarningsOrLossesAmt |
| End Year Balance | $656,646 | EndYearBalanceAmt |
CY Minus2 Yr Endwmt Fund CYMinus2YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $647,605 | BeginningYearBalanceAmt |
| Investment Earnings Or Losses | $3,344 | InvestmentEarningsOrLossesAmt |
| End Year Balance | $650,949 | EndYearBalanceAmt |
CY Minus3 Yr Endwmt Fund CYMinus3YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributions | $645,448 | ContributionsAmt |
| Investment Earnings Or Losses | $2,157 | InvestmentEarningsOrLossesAmt |
| End Year Balance | $647,605 | EndYearBalanceAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Board Designated Balance EOY | 1.00000 | BoardDesignatedBalanceEOYPct |
| Endowments Held Unrelated Org | 0 | EndowmentsHeldUnrelatedOrgInd |
| Endowments Held Related Org | 0 | EndowmentsHeldRelatedOrgInd |
| Total Book Value Land Buildings | $0 | TotalBookValueLandBuildingsAmt |
Invst Program Related Org InvstProgramRelatedOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | EDUCATIONAL LOANS RECEIVABLE, NET OF ALLOWANCE | Desc |
| Book Value | $539,153,032 | BookValueAmt |
| Method Valuation | C | MethodValuationCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Program Rltd | $539,153,032 | TotalBookValueProgramRltdAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $24,263,989 | TotalRevEtcAuditedFinclStmtAmt |
| Net Unrealized Gains Invst | $179,146 | NetUnrealizedGainsInvstAmt |
| Donated Services And Use Fclts | $12,013 | DonatedServicesAndUseFcltsAmt |
| Revenue Not Reported | $191,159 | RevenueNotReportedAmt |
| Revenue Subtotal | $24,072,830 | RevenueSubtotalAmt |
| Other Revenues Not Included | $137,897 | OtherRevenuesNotIncludedAmt |
| Revenue Not Reported Fincl Stmt | $137,897 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $24,210,727 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $25,631,465 | TotExpnsEtcAuditedFinclStmtAmt |
| Donated Services Use Fclts | $12,013 | DonatedServicesUseFcltsAmt |
| Other Expenses Included | -$112,369 | OtherExpensesIncludedAmt |
| Expenses Not Reported | -$100,356 | ExpensesNotReportedAmt |
| Expenses Subtotal | $25,731,821 | ExpensesSubtotalAmt |
| Other Expenses Not Included | $25,528 | OtherExpensesNotIncludedAmt |
| Expenses Not Rpt Fincl Stmt | $25,528 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $25,757,349 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (5 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART V, LINE 4: | FUNDS TO BE USED FOR PROGRAMS. |
| PART X, LINE 2: | MHESAC IS A NOT-FOR-PROFIT CORPORATION EXEMPT FROM TAXATION UNDER INTERNAL REVENUE CODE SECTION 501(C)(3). ON DECEMBER 22, 2017, THE TAX CUTS AND JOBS ACT WAS SIGNED INTO LAW. INCLUDED IN THIS BILL WAS A PROVISION THAT SPECIFIED THAT AMOUNTS INCURRED FOR CERTAIN QUALIFIED TRANSPORTATION BENEFITS, INCLUDING QUALIFIED PARKING, WERE NOT DEDUCTIBLE, EVEN BY NOT-FOR-PROFITS. THE RHM OFFICES ARE LOCATED IN AN AREA WHERE PAID PARKING IS REQUIRED AND THE COMPANY HAS PROVIDED PARKING PASSES TO THE CONTRACT SAF EMPLOYEES THAT WORK AT THAT SITE. THIS AMOUNT WAS SUBJECT TO UNRELATED BUSINESS INCOME TAX. ON DECEMBER 20, 2019, THE TAXPAYER CERTAINTY AND DISASTER TAX RELIEF ACT RETROACTIVELY REPEALED THE 2017 TAX PROVISION AND PROVIDED FOR TAX-EXEMPT ORGANIZATIONS TO CLAIM A REFUND FOR TAX PAID RELATED TO QUALIFIED PARKING. MHESAC HAS CLAIMED THEIR REFUND. |
| PART XI, LINE 4B - OTHER ADJUSTMENTS: | UNCOLLECTIBLE ACCOUNTS 112,369. INVESTMENT MANAGEMENT ADVISOR FEE 25,528. |
| PART XII, LINE 2D - OTHER ADJUSTMENTS: | UNCOLLECTIBLE ACCOUNTS -112,369. |
| PART XII, LINE 4B - OTHER ADJUSTMENTS: | INVESTMENT MANAGEMENT ADVISOR FEE 25,528. |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable (6 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Recipient EINRecipientEIN | IRC SectionIRCSectionDesc | Cash GrantCashGrantAmt | Purpose Of GrantPurposeOfGrantTxt |
|---|---|---|---|---|---|---|---|
| GOVERNOR'S OFFICE OF COMMUNITY SERVICE | |||||||
| PO BOX 200801 | HELENA | MT | 59620 | 810302402 | GOVERNMENT | $48,000 | YOUTH SERVICE MONTANA SCHOLARSHIPS |
| MONTANA CHAMBER FOUNDATION | |||||||
| PO BOX 1730 | HELENA | MT | 59624 | 237059679 | 501(C)(3) | $10,000 | ENVISION 2025 |
| HELENA COLLEGE FOUNDATION | |||||||
| PO BOX 629 | HELENA | MT | 59624 | 810433819 | 501(C)(3) | $5,000 | MONTANA ACCESS SCHOLARSHIPS |
| MONTANA COLLEGE ACCESS NETWORK | |||||||
| PO BOX 7761 | MISSOULA | MT | 59807 | 472842256 | 501(C)(3) | $23,200 | ORGANIZATION SUPPORT GRANT |
| MISSOULA COLLEGE | |||||||
| 1205 E BROADWAY | MISSOULA | MT | 59602 | 816001713 | GOVERNMENT | $10,000 | DUAL ENROLLMENT SUMMIT |
| HARDIN HIGH SCHOOL | |||||||
| 721 NORTH MILES AVENUE | HARDIN | MT | 59034 | 816000032 | GOVERNMENT | $20,000 | COMMUNITY GRANT |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 6 | Total501c3OrgCnt |
| Total Other Org | 0 | TotalOtherOrgCnt |
Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp (5 entries)
| Grant TypeGrantTypeTxt | RecipientRecipientCnt | Cash GrantCashGrantAmt |
|---|---|---|
| FOSTER CARE - ETV | 70 | $287,329 |
| REACH HIGHER MONTANA SCHOLARSHIPS | 82 | $79,000 |
| PRIVATE FOSTER CARE SCHOLARSHIPS | 6 | $6,000 |
| DUAL ENROLLMENT SCHOLARSHIPS | 4 | $11,300 |
| DESIGN A STICKER SCHOLARSHIP | 11 | $7,000 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | SCHEDULE I; PART III A | FormAndLineReferenceDesc |
| Explanation | REACH HIGHER MONTANA DELIVERS FUNDS TO THE STUDENTS THROUGH ITS REACH HIGHER MONTANA SCHOLARSHIPS. THESE AWARDS ARE $1,000 EACH, AND THE INTENT OF THE PROGRAM IS TO AWARD 25 SCHOLARSHIPS TO HIGH SCHOOL SENIORS AND 50 SCHOLARSHIPS TO CONTINUING COLLEGE STUDENTS. REACH HIGHER MONTANA SCHOLARSHIPS ARE AWARDED BASED ON APPLICATIONS SUBMITTED BY STUDENTS. STUDENT ENROLLMENT IS VERIFIED AND CHECKS ARE ISSUED TO SCHOOLS IN THE STUDENT'S NAME. THE CASH AMOUNT IS LESS DUE TO THE RETURN OF FUNDS FROM PRIOR YEAR RECIPIENTS. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | 0 | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | 0 | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | 0 | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | 0 | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | 0 | AnyNonFixedPaymentsInd |
| Initial Contract Exception | 0 | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (2 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| SCOTT TODOROVICH | ||||||||||||||
| CEO MHESAC,PRESIDENT/CEO SAF | $0 | $164,104 | $0 | $0 | $0 | $5,664 | $0 | $10,517 | $0 | $17,130 | $0 | $197,415 | $0 | $0 |
| JOLENE SELBY | ||||||||||||||
| CFO MHESAC,VICE PRESIDENT SAF | $0 | $157,395 | $0 | $0 | $0 | $5,979 | $0 | $10,289 | $0 | $19,905 | $0 | $193,568 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail (3 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART I, LINE 1A | DOES NOT APPLY. |
| PART I, LINE 1B | DOES NOT APPLY |
| PART I, LINE 3 | DOES NOT APPLY |
Schedule L IRS990ScheduleL
Bus Tr Involve Interested Prsn BusTrInvolveInterestedPrsnGrp (5 entries)
| Relationship DescriptionRelationshipDescriptionTxt | TransactionTransactionDesc | Sharing Of RevenuesSharingOfRevenuesInd |
|---|---|---|
| JOLENE SELBY | ||
| MHESAC CFO AND TOP FINANCIAL OFFICIAL | NOTED CFO AND TOP FINANCIAL OFFICIAL FOR MHESAC IS AN OFFICER OF STUDENT ASSISTANCE FOUNDATION | 0 |
| KIM CUNNINGHAM | ||
| BOARD MEMBER | NOTED BOARD MEMBER IS CHAIR ON STUDENT ASSISTANCE FOUNDATION BOARD | 0 |
| TERRY COSGROVE | ||
| BOARD MEMBER | NOTED BOARD MEMBER IS ON BOTH STUDENT ASSISTANCE FOUNDATION AND MHESAC BOARDS | 0 |
| SCOTT TODOROVICH | ||
| MHESAC CEO AND TOP MANAGEMENT OFFICIAL | NOTED CEO AND TOP MANAGEMENT OFFICIAL FOR MHESAC IS AN OFFICER OF STUDENT ASSISTANCE FOUNDATION. | 0 |
| KELLY CRESSWELL | ||
| OFFICER | NOTED OFFICER IS ALSO AN OFFICER OF STUDENT ASSISTANCE FOUNDATION. | 0 |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (9 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 2 | THREE MHESAC OFFICERS: SCOTT TODOROVICH, JOLENE SELBY AND KELLY CRESSWELL WORK FOR THE SAME ORGANIZATION. |
| FORM 990, PART VI, SECTION A, LINE 3 | STUDENT ASSISTANCE FOUNDATION IS A 509(A)(3)SUPPORTING ORGANIZATION ORGANIZED TO PROVIDE MONTANA HIGHER EDUCATION STUDENT ASSISTANCE CORPORATION (MHESAC), WITH ALL THE NECESSARY MANAGEMENT AND ADMINISTRATIVE SERVICES REQUIRED TO OPERATE MHESAC'S STUDENT LOAN PROGRAM, PERFORM ALL THE RESPONSIBILITIES UNDER THE INDENTURES, AND TO SERVICE ALL STUDENT LOANS OWNED BY MHESAC. |
| FORM 990, PART VI, SECTION A, LINE 7A | THE CHAIR OF THE BOARD OF REGENTS CAN APPOINT A VOTING MEMBER. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE RETURN IS MADE AVAILABLE TO THE FULL BOARD AND REVIEWED BY THE AUDIT COMMITTEE PRIOR TO FILING. THE AUDIT COMMITTEE PRESENTS THE RETURN TO THE FULL BOARD AT THE NEXT SCHEDULED MEETING. |
| FORM 990, PART VI, SECTION B, LINE 12C | BOARD MEMBERS ARE REQUIRED TO DISCLOSE CONFLICTS OF INTEREST PRIOR TO PARTICIPATING IN THE DISCUSSION OF THE TOPIC. THE DISCLOSURE IS NOTED IN THE MINUTES. ALL VOTES HAVE TO BE CARRIED BY A MAJORITY OF DISINTERESTED PARTIES. |
| FORM 990, PART VI, SECTION B, LINE 15 | THE ORGANIZATION DOES NOT INCUR COMPENSATION OR PAYROLL RELATED EXPENSES. BOARD MEMBERS ARE PAID HONORARIUMS ONLY AND REIMBURSED FOR TRAVEL EXPENDITURES. THE PROCESS FOR DETERMINING EXECUTIVE COMPENSATION BY THE STUDENT ASSISTANCE FOUNDATION, MHESAC'S MANAGEMENT COMPANY, IS AS FOLLOWS: WHEN EXECUTIVE AND OFFICER EMPLOYMENT CONTRACTS ARE RENEWED, THE SAF BOARD APPOINTS A COMPENSATION COMMITTEE TO REVIEW AND RECOMMEND COMPENSATION OF THE CEO FOR BOARD APPROVAL. THE SAF BOARD APPROVES ANY ANNUAL COST OF LIVING ADJUSTMENTS. |
| FORM 990, PART VI, SECTION C, LINE 19 | FINANCIAL STATEMENTS ARE AVAILABLE FROM THE COMPANY'S WEBSITE AND OTHER DOCUMENTS ARE AVAILABLE UPON REQUEST. |
| FORM 990, PART IX, LINE 24E | LENDER LOAN & INCENTIVE FEES: PROGRAM SERVICE EXPENSES 51,901. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 51,901. DUES & SUBSCRIPTIONS: PROGRAM SERVICE EXPENSES 9,508. MANAGEMENT AND GENERAL EXPENSES 9,162. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 18,670. LISTING FEES: PROGRAM SERVICE EXPENSES 3,360. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 3,360. |
| FORM 990, PART XII, LINE 2C - OVERSITE OF AUDIT | THE PROCESS FOR THE OVERSIGHT RESPONSIBILITY OF THE AUDIT HAS NOT CHANGED AND IS CONSISTENT WITH PRIOR YEARS. |
Schedule R IRS990ScheduleR
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp
Disregarded Entity Name DisregardedEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | STUDENT ASSISTANCE FOUNDATION OF MONTANA | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 5209 | AddressLine1Txt |
| City | HELENA | CityNm |
| State Abbreviation | MT | StateAbbreviationCd |
| ZIP | 59604 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 810527529 | EIN |
| Primary Activities | PROVIDE MANAGEMENT, STUDENT LOAN SERVICING & PROGRAMS DELIVERY | PrimaryActivitiesTxt |
| Legal Domicile State | MT | LegalDomicileStateCd |
| Exempt Code Section | 501(C)(3) | ExemptCodeSectionTxt |
| Public Charity Status | 11A | PublicCharityStatusTxt |
| Direct Controlling NA | N/A | DirectControllingNACd |
| Controlled Organization | 0 | ControlledOrganizationInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | 0 | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | 0 | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | 0 | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | 0 | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | 0 | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | 0 | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | 0 | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | 0 | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | Yes (1) | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | 0 | SharingOfFacilitiesInd |
| Paid Employees Sharing | 0 | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | Yes (1) | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | 0 | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |
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