2020-11-06T13:42:35-06:00 2020-01-31 463602660 JOHNSON & SHELDON PLLC PO BOX 509 AMARILLO TX 791050509 990 2019-09-01 752059556 PANHANDLE-PLAINS STUDENT FINANCE CORPORATION PANH 8063244100 1303 23RD STREET CANYON TX 79015 JIMMY PARKER EXECUTIVE DIRECTOR 8063244100 2020-08-06 true RICHARD W BLANKENSHIP CPA P00172630 8063717661 2020-11-06 65.200.43.2 2020-11-06 13:42:35 CS P 24B2DD43030EBA64EAE85524960C203142207E95 24B2DD43030EBA64EAE85524960C203142207E95 2019 2021-01-29 14:40:06Z X JIMMY PARKER 1303 23RD ST CANYON TX 79015 38262 false X WWW.PPSFC.ORG X 1985 TX PROVIDING FUNDS FOR THE PURCHASE OF STUDENT LOANS AT THE POST-SECONDARY LEVEL, AND TO PROVIDE PROCEDURES FOR THE SERVICING OF SUCH LOANS AS REQUIRED FOR CONTINUED PARTICIPATION IN THE FEDERAL FAMILY EDUCATION LOAN PROGRAM UNDER THE HIGHER EDUCATION ACT OF 1965. X 7 7 0 0 0 2305900 24678 77773 13584 0 2383673 38262 0 0 0 0 0 3768144 38843 3768144 38843 -1384471 -581 18089708 0 77704 0 18012004 0 X PROVIDING FUNDS FOR THE PURCHASE OF STUDENT LOANS AT THE POST-SECONDARY LEVEL, AND TO PROVIDE PROCEDURES FOR THE SERVICING OF SUCH LOANS AS REQUIRED FOR CONTINUED PARTICIPATION IN THE FEDERAL FAMILY EDUCATION LOAN PROGRAM UNDER THE HIGHER EDUCATION ACT OF 1965. false true 24866 24678 UP UNTIL THE TIME OF THE CORPORATION'S MERGER DATE EFFECTIVE AUGUST 31, 2019, THE CORPORATION PROVIDED FUNDS FOR THE PURCHASE OF STUDENT LOANS (BOTH FFELP STUDENT LOANS AND ALTERNATIVE STUDENT LOANS) AT THE POST- SECONDARY LEVEL, AND PROVIDED PROCEDURES FOR THE SERVICING OF SUCH LOANS AS REQUIRED FOR CONTINUED PARTICIPATION IN THE FEDERAL FAMILY EDUCATION LOAN PROGRAM UNDER THE HIGHER EDUCATION ACT OF 1965. UP UNTIL THE TIME OF THE CORPORATION'S MERGER DATE EFFECTIVE AUGUST 31, 2019, UNDER ITS CONTRACT WITH MOHELA (AN INDEPENDENT STUDENT LOAN SERVICER AND ALSO AN OFFICIAL U.S. DEPARTMENT OF EDUCATION SERVICING CONTRACTOR) SERVED AS AN ELIGIBLE NOT-FOR-PROFIT (NFP) SERVICER PURSUANT TO FEDERAL STUDENT AID'S (FSA) SOLICITATION (NFP-RFP-2010) AND MOHELA'S CONTRACT WITH FSA. 24866 true false false false false false false false false false false false false false false false false false false false false false false false false false false false false true false false false false false false false false false false true false false true false false false true 0 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 false true true false X JIMMY PARKER 8063244100 1303 23RD STREET CANYON TX 79015 X JIMMY PARKER EXECUTIVE DI 5.00 35.00 X 0 204481 32220 JOHN WRIGHT SENIOR VICE 10.00 30.00 X 0 175300 45438 ZACH BELL CFO 5.00 35.00 X 0 132086 31140 COURTNEY ADAMS DIRECTOR 2.00 X 0 0 0 QUINN ALEXANDER DIRECTOR 2.00 2.00 X 0 0 0 JAN BENTON PRESIDENT 2.00 2.00 X X 0 0 0 BEVERLY COTTINGHAM VICE PRESIDE 2.00 X X 0 0 0 ANN DUNCAN SECRETARY 2.00 X X 0 0 0 BILL FORBES DIRECTOR 2.00 X 0 0 0 PAUL K HENDERSON DIRECTOR 2.00 X 0 0 0 511867 108798 false true false OTHER 522298 22003 22003 SPECIAL ALLOWANCE PAYMENT 522298 2675 2675 24678 13584 13584 38262 24678 13584 12954 6477 6477 9490 9490 7500 7500 CONSOLIDATION FEES 8469 8469 MAINTENANCE & OPERATING F 221 221 LOAN SERVICING FEES 134 134 MISCELLANEOUS EXPENSE 75 75 38843 24866 13977 0 2648375 14951808 45260 444265 18089708 0 77704 77704 0 X 18012004 18012004 0 18089708 0 X -581 -18011423 X false false false X 3112274 3438947 2911319 2305900 24678 11793118 3112274 3438947 2911319 2305900 24678 11793118 11793118 15169 40923 45591 77773 13584 193040 15169 40923 45591 77773 13584 193040 97 32 129 3127540 3479902 2956910 2383673 38262 11986287 0.98390 0.98720 0.02000 0.01000 X PART III, LINE 12 GAIN ON DISC BOND REDEMPTION 0 GAIN ON FFELP LOAN SALES 0 MISCELLAENOUS 129 false false false false false false false false false JIMMY PARKER EXECUTIVE DIRECTOR 184481 20000 16771 15449 236701 JOHN WRIGHT SENIOR VICE PRESIDEN 160300 15000 14573 30865 220738 ZACH BELL CFO 117086 15000 10644 20496 163226 SCHEDULE J, PART III PART I, LINE 3: SEE SCHEDULE O FOR DISCLOSURES RELATED TO COMPENSATION PROCESS BY RELATED ORGANIZATION, PANHANDLE PLAINS MANAGEMENT & SERVICING CORPORATION. CASH 2020-01-31 2647793 CASH 237025386 PANHANDLE-PLAINS HIGHER EDUCATION AUTHORITY INC 1303 23RD STREET CANYON TX 79015 501C3 INVESTMENTS 2020-01-31 15363630 MARKET 237025386 PANHANDLE-PLAINS HIGHER EDUCATION AUTHORITY INC 1303 23RD STREET CANYON TX 79015 501C3 false false false false true false true false FORM 990 - ORGANIZATION'S MISSION PROVIDING FUNDS FOR THE PURCHASE OF STUDENT LOANS AT THE POST-SECONDARY LEVEL, AND TO PROVIDE PROCEDURES FOR THE SERVICING OF SUCH LOANS AS REQUIRED FOR CONTINUED PARTICIPATION IN THE FEDERAL FAMILY EDUCATION LOAN PROGRAM UNDER THE HIGHER EDUCATION ACT OF 1965. FORM 990, PAGE 2, PART III, LINE 3 EFFECTIVE AUGUST 30, 2019, MANAGEMENT OF THE CORPORATION BEGAN THE PROCESS OF MERGING THE ASSETS OF THE CORPORATION INTO THE PANHANDLE-PLAINS HIGHER EDUCATION AUTHORITY, INC. (THE AUTHORITY), A RELATED PARTY THROUGH COMMON MANAGEMENT. UNDER THIS MERGER, THE ASSETS AND LIABILITIES WERE ABSORBED BY THE AUTHORITY. IN THE NEAR FUTURE, PANHANDLE-PLAINS MANAGEMENT AND SERVING CORPORATION WILL ALSO MERGE INTO THE AUTHORITY, LEAVING THE AUTHORITY AS THE SURVIVING ENTITY. THE AUTHORITY PLANS TO BECOME A PRIVATE FOUNDATION, WHICH WILL AWARD SCHOLARSHIPS TO STUDENTS IN PURSUIT OF THEIR HIGHER EDUCATION GOALS. EFFECTIVE JANUARY 31, 2020, THE CORPORATION'S FINAL ASSETS WERE LIQUIDATED WITH THE TRANSFER OF ALL REMAINING ASSETS TO THE PANHANDLE-PLAINS HIGHER EDUCATION AUTHORITY, INC., AS DISCLOSED IN SCHEDULE N TO THIS FILING. FORM 990, PAGE 6, PART VI, LINE 3 PANHANDLE PLAINS STUDENT FINANCE CORPORATION (PPSFC) HAS A CONTRACT WITH PANHANDLE-PLAINS MANAGEMENT & SERVICING CORPORATION (PPMSC) TO PROVIDE FOR SERVICING ADMINISTRATION. PPSFC HAS NO EMPLOYEES. THERE ARE TWO ELEMENTS IN THE FEES PAID -- SERVICING FEES AND ADMINISTRATIVE AND MAINTENANCE FEES (M&O). FORM 990, PAGE 6, PART VI, LINE 11B THE BOARD OF DIRECTORS OF PPSFC IS PROVIDED AN ELECTRONIC COPY OF THE FORM 990 ONE WEEK PRIOR TO FILING. THE DIRECTORS THEN HAVE A WEEK TO REVIEW AND GIVE COMMENTS BEFORE THE RETURN IS FILED WITH THE INTERNAL REVENUE SERVICE. FORM 990, PAGE 6, PART VI, LINE 12C THE BOARD MEMBERS OF PPSFC ARE REQUIRED TO UPDATE THEIR CONFLICT OF INTEREST STATEMENTS AT THE ANNUAL BOARD OF DIRECTORS MEETING. A RECORD OF THIS IS KEPT IN THE MINUTES OF THE BOARD MEETING. FORM 990, PAGE 6, PART VI, LINE 15A THE EXECUTIVE DIRECTOR AND OTHER PERSONNEL ARE EMPLOYEES OF PANHANDLE-PLAINS MANAGEMENT & SERVICING CORPORATION (PPMSC). THE SALARIES OF THESE INDIVIDUALS ARE ESTABLISHED BY THE PPMSC BOARD OF DIRECTORS. FORM 990, PAGE 6, PART VI, LINE 15B THE EXECUTIVE DIRECTOR AND OTHER PERSONNEL ARE EMPLOYEES OF PANHANDLE-PLAINS MANAGEMENT & SERVICING CORPORATION (PPMSC). THE SALARIES OF THESE INDIVIDUALS ARE ESTABLISHED BY THE PPMSC BOARD OF DIRECTORS. FORM 990, PAGE 6, PART VI, LINE 19 PPSFC'S ANNUAL AUDITED FINANCIAL STATEMENTS ARE AVAILABLE ON ITS WEBSITE. THE GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST. ARTICLES OF INCORPORATION AND PUBLIC DOCUMENTS ARE PUBLIC INFORMATION AND ARE AVAILABLE FROM THE SECRETARY OF STATE. FORM 990, PART VII SCHEDULE J, LINE 3 - QUESTIONS REGARDING COMPENSATION THE PPSFC BOARD DOES NOT APPROVE COMPENSATION OF THE EXECUTIVE DIRECTOR, BUT IT DOES APPROVE THE MANAGEMENT CONTRACT WITH PANHANDLE-PLAINS MANAGEMENT & SERVICING CORPORATION WHICH PAYS THE EXECUTIVE DIRECTOR/CEO. FORM 990, PART XI, LINE 9 TRANSFER TO PANHANDLE-PLAINS HIGHER EDUCATION AUTHORITY -18,011,423 PANHANDLE-PLAINS HIGHER EDUCATION AUTHORITY 1303 23RD STREET CANYON TX 79015 237025386 STUD LOANS TX 501C3 12A NA false PANHANDLE-PLAINS MGT & SERV CORP 1303 23RD STREET CANYON TX 79015 455543346 STUD LOANS TX 501C3 12A N/A false false false false false false false false false false false false false false false false false false true false PANHANDLE-PLAINS HIGHER EDUCATION A R 2647793 CASH PANHANDLE-PLAINS HIGHER EDUCATION A R 15363630 FMV OF INVESTMENTS