Acapita Education Finance Corporation: Form 990, tax year 2016
View the entire original 990 at ProPublica ↗
- Organization
- Acapita Education Finance Corporation (EIN 74-2542435)
- Tax period
- 2016-07-01 to 2017-06-30
- Filed
- 2018-02-09
- IRS object ID
- 201810409349300431
- Schema version
- 2016v3.1
- 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 ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2018-02-09T11:56:01-06:00 | ReturnTs |
| Tax Period End | 2017-06-30 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | BKD LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 14241 DALLAS PARKWAY SUITE 1100 | AddressLine1Txt |
| City | DALLAS | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 75254 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2016-07-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 742542435 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Acapita Education Finance Corporation | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| In Care Of | % RICKY TURMAN EVP/CFO | InCareOfNm |
| Business Name Control | ACAP | BusinessNameControlTxt |
| Phone | 2547530915 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2600 Washington Avenue | AddressLine1Txt |
| City | Waco | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 76710 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | RICKY TURMAN | PersonNm |
| Person Title | EVP/CFO | PersonTitleTxt |
| Phone | 2547530915 | PhoneNum |
| Signature | 2017-11-15 | SignatureDt |
| Discuss With Paid Preparer | Yes (true) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | Jeanette Verrelli | PreparerPersonNm |
| PTIN | P00742631 | PTIN |
| Phone | 9727028262 | PhoneNum |
Filing Security Information FilingSecurityInformation
IP Address IPAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| I Pv4 Address | 167.68.126.162 | IPv4AddressTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Federal Original Submission Id | 75465920180405000001 | FederalOriginalSubmissionId |
| Federal Original Submission Id | 2018-02-09 | FederalOriginalSubmissionIdDt |
| Filing License Type | P | FilingLicenseTypeCd |
| At Submission Creation Device Id | 15AEBD43F5283FBF8603E09484F3C281030BC02E | AtSubmissionCreationDeviceId |
| At Submission Filing Device Id | ACBA2431EF37DEF71821A9057AFD5F2E9C389335 | AtSubmissionFilingDeviceId |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2016 | TaxYr |
| Build TS | 2021-01-29 14:40:06Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | RICKY TURMAN | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2600 Washington Avenue | AddressLine1Txt |
| City | Waco | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 76710 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $73,820,059 | GrossReceiptsAmt |
| Group Return For Affiliates | false | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | WWW.STUDENTLOANS.COM | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1989 | FormationYr |
| Legal Domicile State | TX | LegalDomicileStateCd |
| Activity Or Mission | ACAPITA EDUCATION FINANCE CORPORATION'S MISSION IS TO MAKE EDUCATION a reality by supporting programs and initiatives to finance educational opportunities. | ActivityOrMissionDesc |
| Voting Members Governing Body | 9 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 9 | VotingMembersIndependentCnt |
| Total Employee | 0 | TotalEmployeeCnt |
| Total Volunteers | 9 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $38,867,516 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $73,491,293 | CYProgramServiceRevenueAmt |
| PY Investment Income | $7,218 | PYInvestmentIncomeAmt |
| CY Investment Income | $48,278 | CYInvestmentIncomeAmt |
| PY Other Revenue | $281,666 | PYOtherRevenueAmt |
| CY Other Revenue | $280,488 | CYOtherRevenueAmt |
| PY Total Revenue | $39,156,400 | PYTotalRevenueAmt |
| CY Total Revenue | $73,820,059 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $0 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $0 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $98,833,748 | PYOtherExpensesAmt |
| CY Other Expenses | $93,870,531 | CYOtherExpensesAmt |
| PY Total Expenses | $98,833,748 | PYTotalExpensesAmt |
| CY Total Expenses | $93,870,531 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | -$59,677,348 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | -$20,050,472 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $1,418,819,488 | TotalAssetsBOYAmt |
| Total Assets EOY | $1,282,298,650 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $2,268,818,469 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $2,152,588,103 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | -$849,998,981 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | -$870,289,453 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | ACAPITA EDUCATION FINANCE CORPORATION (AEFC) IS A SECONDARY MARKET OF COLLEGE STUDENT LOANS UNDER THE FEDERAL FAMILY EDUCATION LOAN PROGRAM (FFELP). AEFC'S MISSION IS TO MAKE EDUCATION A REALITY BY SUPPORTING PROGRAMS AND INITIATIVES TO FINANCE EDUCATIONAL OPPORTUNITIES. | MissionDesc |
| Significant New Program Srvc | false | SignificantNewProgramSrvcInd |
| Significant Change | false | SignificantChangeInd |
| Expense | $93,870,531 | ExpenseAmt |
| Revenue | $73,771,781 | RevenueAmt |
| Desc | AEFC SERVICED OVER 114,000 LOANS TOTALING OVER $1.2 BILLION. THIS INCLUDED OVER $1.1 BILLION UNDER THE TITLE IV FEDERAL FAMILY EDUCATION LOAN PROGRAM (FFELP) OF WHICH INCLUDED $872 MILLION OF CONSOLIDATION LOANS. THESE LOANS WERE FUNDED THROUGH TEMPORARY FINANCING. | Desc |
| Total Program Service Expenses | $93,870,531 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (true) | DescribedInSection501c3Ind |
| Schedule B Required | false | ScheduleBRequiredInd |
| Political Campaign Acty | false | PoliticalCampaignActyInd |
| Lobbying Activities | false | LobbyingActivitiesInd |
| Subject To Proxy Tax | false | SubjectToProxyTaxInd |
| Donor Advised Fund | false | DonorAdvisedFundInd |
| Conservation Easements | false | ConservationEasementsInd |
| Collections Of Art | false | CollectionsOfArtInd |
| Credit Counseling | false | CreditCounselingInd |
| Temp Or Permanent Endowments | false | TempOrPermanentEndowmentsInd |
| Report Land Building Equipment | false | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | false | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | false | ReportProgramRelatedInvstInd |
| Report Other Assets | false | ReportOtherAssetsInd |
| Report Other Liabilities | false | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (true) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (true) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | false | ConsolidatedAuditFinclStmtInd |
| School Operating | false | SchoolOperatingInd |
| Foreign Office | false | ForeignOfficeInd |
| Foreign Activities | false | ForeignActivitiesInd |
| More Than5000 K To Org | false | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | false | MoreThan5000KToIndividualsInd |
| Professional Fundraising | false | ProfessionalFundraisingInd |
| Fundraising Activities | false | FundraisingActivitiesInd |
| Gaming Activities | false | GamingActivitiesInd |
| Operate Hospital | false | OperateHospitalInd |
| Grants To Organizations | false | GrantsToOrganizationsInd |
| Grants To Individuals | false | GrantsToIndividualsInd |
| Schedule J Required | Yes (true) | ScheduleJRequiredInd |
| Tax Exempt Bonds | false | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | false | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | false | PYExcessBenefitTransInd |
| Loan Outstanding | false | LoanOutstandingInd |
| Grant To Related Person | false | GrantToRelatedPersonInd |
| Business Rln With Org Mem | false | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | false | BusinessRlnWithFamMemInd |
| Business Rln With Officer Ent | false | BusinessRlnWithOfficerEntInd |
| Deductible Non Cash Contri | false | DeductibleNonCashContriInd |
| Deductible Art Contribution | false | DeductibleArtContributionInd |
| Terminate Operations | false | TerminateOperationsInd |
| Partial Liquidation | false | PartialLiquidationInd |
| Disregarded Entity | false | DisregardedEntityInd |
| Related Entity | Yes (true) | RelatedEntityInd |
| Related Organization Ctrl Ent | Yes (true) | RelatedOrganizationCtrlEntInd |
| Transaction With Control Ent | false | TransactionWithControlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | false | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | false | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (true) | ScheduleORequiredInd |
| IRP Document | 549 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Employee | 0 | EmployeeCnt |
| Unrelated Bus Incm Over Limit | false | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | false | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | false | TaxablePartyNotificationInd |
| Nondeductible Contributions | false | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | false | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | false | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | false | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | false | PayPremiumsPrsnlBnftCntrctInd |
| Indoor Tanning Services | false | IndoorTanningServicesInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 9 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 9 | IndependentVotingMemberCnt |
| Family Or Business Rln | false | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | Yes (true) | DelegationOfMgmtDutiesInd |
| Change To Org Documents | false | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | false | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | false | MembersOrStockholdersInd |
| Election Of Board Members | false | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | false | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (true) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (true) | MinutesOfCommitteesInd |
| Officer Mailing Address | false | OfficerMailingAddressInd |
| Local Chapters | false | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (true) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (true) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (true) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (true) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (true) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (true) | DocumentRetentionPolicyInd |
| Compensation Process CEO | false | CompensationProcessCEOInd |
| Compensation Process Other | false | CompensationProcessOtherInd |
| Investment In Joint Venture | false | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | RICKY TURMAN EVPCFO | PersonNm |
| Phone | 2547530915 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2600 WASHINGTON AVE | AddressLine1Txt |
| City | WACO | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 76710 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (17 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | OfficerOfficerInd | Former Ofcr Director TrusteeFormerOfcrDirectorTrusteeInd |
|---|---|---|---|---|---|---|---|---|
| CLAUDE ERVIN | ||||||||
| DIRECTOR | 1.0 | 8.0 | Yes (X) | $0 | $0 | $0 | ||
| BRENT HELM | ||||||||
| DIRECTOR | 1.0 | 8.0 | Yes (X) | $0 | $0 | $0 | ||
| CALVIN CURTIS JONES | ||||||||
| DIRECTOR | 1.0 | 8.0 | Yes (X) | $0 | $0 | $0 | ||
| WILTON LANNING | ||||||||
| VICE CHAIRMAN | 1.0 | 8.0 | Yes (X) | $0 | $0 | $0 | Yes (X) | |
| DR TERRY MANESS | ||||||||
| DIRECTOR | 1.0 | 8.0 | Yes (X) | $0 | $0 | $0 | ||
| MRS JOYCE PACKARD | ||||||||
| CHAIRMAN | 1.0 | 8.0 | Yes (X) | $0 | $0 | $0 | Yes (X) | |
| CHARLES REED | ||||||||
| DIRECTOR | 1.0 | 8.0 | Yes (X) | $0 | $0 | $0 | ||
| LARRY SMITH | ||||||||
| DIRECTOR | 1.0 | 8.0 | Yes (X) | $0 | $0 | $0 | ||
| TONY WAYLAND | ||||||||
| DIRECTOR | 1.0 | 8.0 | Yes (X) | $0 | $0 | $0 | ||
| MURRAY WATSON | ||||||||
| PRESIDENT | 1.0 | 39.0 | $0 | $986,662 | $61,945 | Yes (X) | ||
| THOMAS BEN LITLE | ||||||||
| EVP/COO | 1.0 | 39.0 | $0 | $401,383 | $72,118 | Yes (X) | ||
| RICKY TURMAN | ||||||||
| EVP/CFO | 1.0 | 39.0 | $0 | $394,161 | $76,111 | Yes (X) | ||
| TAMMY HARRALSON | ||||||||
| CONTROLLER/VP | 1.0 | 39.0 | $0 | $192,387 | $45,284 | Yes (X) | ||
| JANICE WHITE | ||||||||
| ASSISTANT SECRETARY | 1.0 | 39.0 | $0 | $155,426 | $38,010 | Yes (X) | ||
| SUSAN DAVIS | ||||||||
| SECRETARY | 1.0 | 39.0 | $0 | $85,612 | $27,756 | Yes (X) | ||
| DARRELL BROOKS | ||||||||
| TREASURER | 1.0 | 39.0 | $0 | $139,982 | $44,561 | Yes (X) | ||
| KELLI VILLARRIAL | ||||||||
| VP, ASSOC. GEN. COUNSEL | 1.0 | 39.0 | $0 | $261,592 | $54,365 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $0 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $2,617,205 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $420,150 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 0 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | Yes (true) | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (true) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | false | CompensationFromOtherSrcsInd |
| Cntrct Rcvd Greater Than100 K | 0 | CntrctRcvdGreaterThan100KCnt |
| Total Contributions | $0 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| Interest Received on Student Loans | 522294 | $39,240,394 | $39,240,394 |
| Late Charges | 522294 | $216,844 | $216,844 |
| VALUATION ALLOWANCE/BAD DEBT | 522294 | $34,034,055 | $34,034,055 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $73,491,293 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $48,278 | TotalRevenueColumnAmt |
| Exclusion | $48,278 | ExclusionAmt |
Incm From Invest Bond Proceeds IncmFromInvestBondProceedsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Royalties Revenue RoyaltiesRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $0 | RealAmt |
| Personal | $0 | PersonalAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Fundraising Gross Income | $0 | FundraisingGrossIncomeAmt |
| Fundraising Direct Expenses | $0 | FundraisingDirectExpensesAmt |
Net Incm From Fundraising Evt NetIncmFromFundraisingEvtGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gaming Gross Income | $0 | GamingGrossIncomeAmt |
| Gaming Direct Expenses | $0 | GamingDirectExpensesAmt |
Net Income From Gaming NetIncomeFromGamingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Sales Of Inventory | $0 | GrossSalesOfInventoryAmt |
| Cost Of Goods Sold | $0 | CostOfGoodsSoldAmt |
Net Income Or Loss NetIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Other Revenue Misc OtherRevenueMiscGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| Issuer Income | 522294 | $275,000 | $275,000 |
| Miscellaneous Income | 522294 | $5,488 | $5,488 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $280,488 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $73,820,059 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $73,771,781 | RelatedOrExemptFuncIncomeAmt |
| Exclusion | $48,278 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Foreign Grants ForeignGrantsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Benefits To Members BenefitsToMembersGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Comp Disqual Persons CompDisqualPersonsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Fees For Services Management FeesForServicesManagementGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $817,932 | TotalAmt |
| Program Services | $817,932 | ProgramServicesAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $68,747 | TotalAmt |
| Program Services | $68,747 | ProgramServicesAmt |
Fees For Services Lobbying FeesForServicesLobbyingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Fees For Services Prof Fundraising FeesForServicesProfFundraising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Royalties RoyaltiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Pymt Travel Entrtnmnt Pub Ofcl PymtTravelEntrtnmntPubOfclGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $78,967,391 | TotalAmt |
| Program Services | $78,967,391 | ProgramServicesAmt |
Payments To Affiliates PaymentsToAffiliatesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt |
|---|---|---|
| Dept of Education Rebate Fees | $9,691,095 | $9,691,095 |
| Servicing Expense | $2,081,823 | $2,081,823 |
| Commitment Fees | $1,793,755 | $1,793,755 |
| ISSUER EXPENSE | $275,000 | $275,000 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $174,788 | TotalAmt |
| Program Services | $174,788 | ProgramServicesAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $93,870,531 | TotalAmt |
| Program Services | $93,870,531 | ProgramServicesAmt |
| Management And General | $0 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $133 | BOYAmt |
| EOY | $284 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $14,535,364 | BOYAmt |
| EOY | $10,006,336 | EOYAmt |
Pledges And Grants Receivable PledgesAndGrantsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $29,043 | BOYAmt |
| EOY | $46,015 | EOYAmt |
Receivables From Officers Etc ReceivablesFromOfficersEtcGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Rcvbl From Disqualified Prsn RcvblFromDisqualifiedPrsnGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,391,717,627 | BOYAmt |
| EOY | $1,258,542,550 | EOYAmt |
Inventories For Sale Or Use InventoriesForSaleOrUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Intangible Assets IntangibleAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $12,537,321 | BOYAmt |
| EOY | $13,703,465 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,418,819,488 | BOYAmt |
| EOY | $1,282,298,650 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $810,218,469 | BOYAmt |
| EOY | $874,988,103 | EOYAmt |
Grants Payable GrantsPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Tax Exempt Bond Liabilities TaxExemptBondLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Escrow Account Liability EscrowAccountLiabilityGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Loans From Officers Directors LoansFromOfficersDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,458,600,000 | BOYAmt |
| EOY | $1,277,600,000 | EOYAmt |
Unsecured Notes Loans Payable UnsecuredNotesLoansPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,268,818,469 | BOYAmt |
| EOY | $2,152,588,103 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow SFAS117 | Yes (X) | OrgDoesNotFollowSFAS117Ind |
Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | -$849,998,981 | BOYAmt |
| EOY | -$870,289,453 | EOYAmt |
Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | -$849,998,981 | BOYAmt |
| EOY | -$870,289,453 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,418,819,488 | BOYAmt |
| EOY | $1,282,298,650 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | -$20,050,472 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | -$240,000 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | false | AccountantCompileOrReviewInd |
| FS Audited | Yes (true) | 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 (true) | AuditCommitteeInd |
| Federal Grant Audit Required | Yes (true) | FederalGrantAuditRequiredInd |
| Federal Grant Audit Performed | Yes (true) | FederalGrantAuditPerformedInd |
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 Minus4 Years | $0 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $0 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $0 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $0 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $0 | CurrentTaxYearAmt |
| Total | $0 | TotalAmt |
Gross Receipts Admissions GrossReceiptsAdmissionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $53,221,262 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $47,394,623 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $41,470,689 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $39,149,182 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $73,771,781 | CurrentTaxYearAmt |
| Total | $255,007,537 | TotalAmt |
Gross Receipts Non Unrlt Bus GrossReceiptsNonUnrltBusGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Tax Rev Levied Orgnztnl Bnft509 TaxRevLeviedOrgnztnlBnft509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Govt Furn Srvc Fclts Vl509 GovtFurnSrvcFcltsVl509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Total509 Total509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $53,221,262 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $47,394,623 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $41,470,689 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $39,149,182 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $73,771,781 | CurrentTaxYearAmt |
| Total | $255,007,537 | 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 | $255,007,537 | PublicSupportTotal509Amt |
Gross Investment Income509 GrossInvestmentIncome509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $2,991 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $1,391 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $1,041 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $7,218 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $48,278 | CurrentTaxYearAmt |
| Total | $60,919 | TotalAmt |
Post1975 UBTI Post1975UBTIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Investment Income And UBTI InvestmentIncomeAndUBTIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $2,991 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $1,391 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $1,041 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $7,218 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $48,278 | CurrentTaxYearAmt |
| Total | $60,919 | TotalAmt |
Net Income From Other UBI NetIncomeFromOtherUBIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Other Income509 OtherIncome509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Total Support Calendar Year TotalSupportCalendarYearGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $53,224,253 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $47,396,014 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $41,471,730 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $39,156,400 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $73,820,059 | CurrentTaxYearAmt |
| Total | $255,068,456 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Support CY509 | 0.99976 | PublicSupportCY509Pct |
| Public Support PY509 | 0.99990 | PublicSupportPY509Pct |
| Investment Income CY | 0.00024 | InvestmentIncomeCYPct |
| Investment Income PY | 0.00010 | InvestmentIncomePYPct |
| Thirty Thr Pct Suprt Tests CY509 | Yes (X) | ThirtyThrPctSuprtTestsCY509Ind |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Art Public Exhibition Amounts | ArtPublicExhibitionAmountsGrp | |
| Held Works Art | HeldWorksArtGrp | |
| CY Minus3 Yr Endwmt Fund | CYMinus3YrEndwmtFundGrp | |
| CY Minus4 Yr Endwmt Fund | CYMinus4YrEndwmtFundGrp | |
| Land | LandGrp | |
| Buildings | BuildingsGrp | |
| Leasehold Improvements | LeaseholdImprovementsGrp | |
| Equipment | EquipmentGrp | |
| Other Land Buildings | OtherLandBuildingsGrp | |
| Federal Income Tax Liability | $0 | FederalIncomeTaxLiabilityAmt |
| Total Liability | $0 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $30,094,909 | TotalRevEtcAuditedFinclStmtAmt |
| Other Revenue | -$9,691,095 | OtherRevenueAmt |
| Revenue Not Reported | -$9,691,095 | RevenueNotReportedAmt |
| Revenue Subtotal | $39,786,004 | RevenueSubtotalAmt |
| Other Revenues Not Included | $34,034,055 | OtherRevenuesNotIncludedAmt |
| Revenue Not Reported Fincl Stmt | $34,034,055 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $73,820,059 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $50,145,381 | TotExpnsEtcAuditedFinclStmtAmt |
| Other Expenses Included | -$34,034,055 | OtherExpensesIncludedAmt |
| Expenses Not Reported | -$34,034,055 | ExpensesNotReportedAmt |
| Expenses Subtotal | $84,179,436 | ExpensesSubtotalAmt |
| Other Expenses Not Included | $9,691,095 | OtherExpensesNotIncludedAmt |
| Expenses Not Rpt Fincl Stmt | $9,691,095 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $93,870,531 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (3 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Schedule D, Part X, Line 2 | Liability for uncertain tax positions: The Company 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 Company 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 Company had no net unrelated business income for the years ended June 30, 2017 and 2016. As such, no provision for federal or state income taxes has been provided in the accompanying financial statements. The Company files federal information returns in the United States. The Company may be subject to examination for the tax years ended June 30, 2014 and later by the Internal Revenue Service. The Company is not currently under examination for any open tax year. The Company follows the accounting standard related to the accounting for uncertainty in income taxes recognized in the Companys 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 Company currently does not have any positions reserved. |
| Schedule D, Part XI, Line 2d | Reconciliation of Revenue per audited financials with return: Department of Education Rebate Fees $(9,691,095) Schedule D, Part XI, Line 4b Reconciliation of Revenue per audited financials with return: Valuation Allowance/Bad Debt $34,034,055 |
| Schedule D, Part XII, Line 2d | Reconciliation of expenses per audited financials with return: Valuation Allowance/Bad Debt $(34,034,055) Schedule D, Part XII, Line 4b Reconciliation of expenses per audited financials with return: Department of Education Rebate Fees $9,691,095 |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Severance Payment | false | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | false | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | false | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | false | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | false | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | false | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | false | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | false | AnyNonFixedPaymentsInd |
| Initial Contract Exception | false | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (7 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| MURRAY WATSON | ||||||||||||||
| PRESIDENT | $0 | $830,765 | $0 | $76,074 | $0 | $79,823 | $0 | $58,547 | $0 | $3,398 | $0 | $1,048,607 | $0 | $0 |
| THOMAS BEN LITLE | ||||||||||||||
| EVP/COO | $0 | $338,455 | $0 | $33,191 | $0 | $29,737 | $0 | $57,756 | $0 | $14,362 | $0 | $473,501 | $0 | $0 |
| RICKY TURMAN | ||||||||||||||
| EVP/CFO | $0 | $338,848 | $0 | $33,508 | $0 | $21,805 | $0 | $58,149 | $0 | $17,962 | $0 | $470,272 | $0 | $0 |
| TAMMY HARRALSON | ||||||||||||||
| CONTROLLER/VP | $0 | $165,776 | $0 | $17,647 | $0 | $8,964 | $0 | $41,658 | $0 | $3,626 | $0 | $237,671 | $0 | $0 |
| JANICE WHITE | ||||||||||||||
| ASSISTANT SECRETARY | $0 | $138,337 | $0 | $15,278 | $0 | $1,811 | $0 | $35,021 | $0 | $2,989 | $0 | $193,436 | $0 | $0 |
| DARRELL BROOKS | ||||||||||||||
| TREASURER | $0 | $125,795 | $0 | $14,187 | $0 | $0 | $0 | $32,830 | $0 | $11,731 | $0 | $184,543 | $0 | $0 |
| KELLI VILLARRIAL | ||||||||||||||
| VP, ASSOC. GEN. COUNSEL | $0 | $230,638 | $0 | $23,670 | $0 | $7,284 | $0 | $50,337 | $0 | $4,028 | $0 | $315,957 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Schedule J, Part I, Line 3 | FormAndLineReferenceDesc |
| Explanation | 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 | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (6 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 3 | DELEGATION OF DUTIES: ACAPITA EDUCATION FINANCE CORPORATION HAS A CONTRACT WITH BRAZOS HIGHER EDUCATION SERVICE CORPORATION, INC. TO PERFORM MANAGEMENT AND ADMINISTRATION SERVICES ON AEFC'S BEHALF. THIS INCLUDES MASTER SERVICING ADMINISTRATION FOR THE OUTSTANDING STUDENT LOANS HELD BY ACAPITA EDUCATION FINANCE CORPORATION. THE SERVICES INCLUDE, BUT ARE NOT LIMITED TO: ACCOUNTING, REPORTING, SERVICING, ORIGINATING, MARKETING, TREASURY, AND COMPLIANCE MONITORING OF THE STUDENT LOANS HELP BY ACAPITA EDUCATION FINANCE CORPORATION. |
| 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 Acapita Education Finance Corporation 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 net assets: Estate Distribution $(240,000) |
| 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. |
Schedule R IRS990ScheduleR
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp (24 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Exempt Code SectionExemptCodeSectionTxt | Public Charity StatusPublicCharityStatusTxt | Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt | Controlled OrganizationControlledOrganizationInd |
|---|---|---|---|---|---|---|---|---|---|---|
| ACADEMIC FINANCE CORPORATION | ||||||||||
| PO BOX 1308 | WACO | TX | 76703 | 742540458 | STUD LOANS | TX | 501(C)(3) | 10 | NA | Yes (true) |
| Brazos Education Foundation Inc | ||||||||||
| 2612 Washington Ave | WACO | TX | 76703 | 264562436 | Grant Making | TX | 501(C)(3) | 7 | BHESC | Yes (true) |
| ANGELINA HIGHER EDUCATION AUTHORITY | ||||||||||
| 2600 WASHINGTON AVE | WACO | TX | 76710 | 200115078 | STUD LOANS | TX | 501(C)(3) | 10 | NA | Yes (true) |
| ATLANTIC STUDENT FINANCE CORPORATION | ||||||||||
| 2600 WASHINGTON AVE | WACO | TX | 76710 | 205412189 | STUD LOANS | FL | 501(C)(3) | 7 | NA | Yes (true) |
| BOSQUE HIGHER EDUCATION AUTHORITY INC | ||||||||||
| PO BOX 1308 | WACO | TX | 76703 | 742534099 | STUD LOANS | TX | 501(C)(3) | 10 | NA | Yes (true) |
| BRAZOS EDUCATION FINANCE CORPORATION | ||||||||||
| 2600 WASHINGTON AVE | WACO | TX | 76710 | 742539632 | STUD LOANS | TX | 501(C)(3) | 10 | NA | Yes (true) |
| BRAZOS EDUCATION LOAN AUTHORITY INC | ||||||||||
| 2600 WASHINGTON AVE | WACO | TX | 76710 | 203868073 | STUD LOANS | TX | 501(C)(3) | 10 | NA | Yes (true) |
| BRAZOS HIGHER EDUCATION AUTHORITY INC | ||||||||||
| PO BOX 1308 | WACO | TX | 76703 | 742099402 | STUD LOANS | TX | 501(C)(3) | 10 | NA | Yes (true) |
| BRAZOS STUDENT FINANCE CORPORATION | ||||||||||
| PO BOX 1308 | WACO | TX | 76703 | 742356109 | STUD LOANS | TX | 501(C)(3) | 10 | NA | Yes (true) |
| Brazos Education Lending Corporation | ||||||||||
| 2600 WASHINGTON AVE | WACO | TX | 76710 | 203870081 | STUD LOANS | TX | 501(C)(3) | 10 | NA | Yes (true) |
| EDINVEST COMPANY | ||||||||||
| 2600 WASHINGTON AVE | WACO | TX | 76710 | 742537669 | STUD LOANS | TX | 501(C)(3) | 10 | NA | Yes (true) |
| EDUCATION SERVICING MANAGEMENT CORP | ||||||||||
| 2600 WASHINGTON AVE | WACO | TX | 76710 | 203870046 | STUD LOANS | TX | 501(C)(3) | 10 | NA | Yes (true) |
| EDUCATIONAL FUNDING SERVICES INC | ||||||||||
| PO BOX 1308 | WACO | TX | 76703 | 330947525 | STUD LOANS | CA | 501(C)(3) | 10 | NA | Yes (true) |
| FEDERATED STUDENT FINANCE CORPORATION | ||||||||||
| 2600 WASHINGTON AVE | WACO | TX | 76710 | 742536239 | STUD LOANS | TX | 501(C)(3) | 10 | NA | Yes (true) |
| FRIO HIGHER EDUCATION AUTHORITY INC | ||||||||||
| 2600 WASHINGTON AVE | WACO | TX | 76710 | 203870120 | STUD LOANS | TX | 501(C)(3) | 10 | NA | Yes (true) |
| LAVACA HIGHER EDUCATION AUTHORITY INC | ||||||||||
| 2600 WASHINGTON AVE | WACO | TX | 76710 | 203870153 | STUD LOANS | TX | 501(C)(3) | 10 | NA | Yes (true) |
| BRAZOS EDUCATION FUNDING CORPORATION INC | ||||||||||
| 2600 WASHINGTON AVE | WACO | TX | 76710 | 203870176 | STUD LOANS | TX | 501(C)(3) | 10 | NA | Yes (true) |
| LLANO HIGHER EDUCATION AUTHORITY INC | ||||||||||
| 2600 WASHINGTON AVE | WACO | TX | 76710 | 203870219 | STUD LOANS | TX | 501(C)(3) | 10 | NA | Yes (true) |
| PALUXY HIGHER EDUCATION AUTHORITY INC | ||||||||||
| 2600 WASHINGTON AVE | WACO | TX | 76710 | 203868139 | STUD LOANS | TX | 501(C)(3) | 10 | NA | Yes (true) |
| ROZELL HIGHER EDUCATION AUTHORITY INC | ||||||||||
| 2600 WASHINGTON AVE | WACO | TX | 76710 | 203867891 | STUD LOANS | TX | 501(C)(3) | 10 | NA | Yes (true) |
| SABINE HIGHER EDUCATION AUTHORITY INC | ||||||||||
| 2600 WASHINGTON AVE | WACO | TX | 76710 | 203868185 | STUD LOANS | TX | 501(C)(3) | 10 | NA | Yes (true) |
| TEXOMA HIGHER EDUCATION AUTHORITY INC | ||||||||||
| 2600 WASHINGTON AVE | WACO | TX | 76710 | 203868230 | STUD LOANS | TX | 501(C)(3) | 10 | NA | Yes (true) |
| TRINITY HIGHER EDUCATION AUTHORITY INC | ||||||||||
| 2600 WASHINGTON AVE | WACO | TX | 76710 | 742534486 | STUD LOANS | TX | 501(C)(3) | 10 | NA | Yes (true) |
| BRAZOS HIGHER EDUCATION SERVICE CORP | ||||||||||
| PO BOX 1308 | WACO | TX | 76703 | 742129255 | STUD LOANS | TX | 501(C)(3) | 10 | NA | false |
Id Related Org Txbl Corp Tr IdRelatedOrgTxblCorpTrGrp (2 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt | Entity TypeEntityTypeTxt | Controlled OrganizationControlledOrganizationInd |
|---|---|---|---|---|---|---|---|---|---|
| INTERVIEWSTREAM INC | |||||||||
| 2612 WASHINGTON AVE | WACO | TX | 76710 | 461208841 | JOB INTERVIEW SVC | TX | NA | C-CORPORATION | Yes (true) |
| BRAZOS ASSET CORPORATION (BAC) | |||||||||
| 2600 WASHINGTON AVE | WACO | TX | 76710 | 300835799 | INVESTMENT | TX | See Part VII | C-CORPORATION | Yes (true) |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | false | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | Yes (true) | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | false | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | false | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | false | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | false | DivRelatedOrganizationInd |
| Asset Sale To Other Org | false | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | false | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | false | AssetExchangeInd |
| Rental Of Facilities To Oth Org | false | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | false | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | false | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | Yes (true) | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | false | SharingOfFacilitiesInd |
| Paid Employees Sharing | false | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | false | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | false | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | false | TransferToOtherOrgInd |
| Transfer From Other Org | false | TransferFromOtherOrgInd |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | FORM 990, SCHEDULE R, PART IV | FormAndLineReferenceDesc |
| Explanation | 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 | ExplanationTxt |
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