2018-02-09T12:15:45-06:00 2017-06-30 BKD LLP 14241 DALLAS PARKWAY SUITE 1100 DALLAS TX 75254 990 2016-07-01 203868073 Brazos Education Loan Authority Inc % RICKY TURMAN EVP/CFO/TREAS BRAZ 2547530915 2600 Washington Ave Waco TX 76710 RICKY TURMAN EVP/CFO/TREASURER 2547530915 2018-05-15 true Jeanette Verrelli P00742631 9727028262 167.68.126.162 75465920180405000003 2018-02-09 P 15AEBD43F5283FBF8603E09484F3C281030BC02E ACBA2431EF37DEF71821A9057AFD5F2E9C389335 2016 2021-01-29 14:40:06Z RICKY TURMAN 2600 WASHINGTON AVE WACO TX 76710 83129641 false X WWW.STUDENTLOANS.COM X 2005 TX BRAZOS EDUCATION LOAN AUTHORITY'S MISSION IS TO MAKE EDUCATION a reality by supporting programs and initiatives to finance educational opportunities. 8 8 0 8 0 0 0 87286153 82743029 55110 386612 124483 0 87465746 83129641 0 0 0 0 0 0 0 0 0 68058143 71635834 68058143 71635834 19407603 11493807 2770528521 2482136677 2497929666 2198044015 272598855 284092662 X BRAZOS EDUCATION LOAN AUTHORITY (BELA) IS A SECONDARY MARKET OF COLLEGE STUDENT LOANS UNDER THE FEDERAL FAMILY EDUCATION LOAN PROGRAM (FFELP). BELA'S MISSION IS TO MAKE EDUCATION A REALITY BY SUPPORTING PROGRAMS AND INITIATIVES TO FINANCE EDUCATIONAL OPPORTUNITIES. false false 71635834 82743029 BRAZOS EDUCATION LOAN AUTHORITY SERVICED OVER 167,000 LOANS TOTALINg OVER $2.3 BILLION UNDER THE TITLE IV FEDERAL FAMILY EDUCATION LOAN PROGRAM (FFELP). THESE LOANS WERE FUNDED THROUGH PERMANENT FINANCINg. 71635834 true false false false false false false false false false false false false false false true true false false false false false false false false false false false false true false false false false false false false false false false false false false true true false false false true 8 0 0 false false false false false false false false false false X 8 8 false true false false false false false true true false false true true true true true true false false false X RICKY TURMAN EVPCFOTREAS 2547530915 2600 WASHINGTON AVE WACO TX 76710 CLAUDE ERVIN DIRECTOR 1.0 8.0 X 0 0 0 BOB CHAMBERs DIRECTOR 1.0 8.0 X 0 0 0 TOM CHASE VICE CHAIRMAN 1.0 8.0 X X 0 0 0 PETER KULTGEN DIRECTOR 1.0 8.0 X 0 0 0 DR TERRY MANESS DIRECTOR 1.0 8.0 X 0 0 0 MRS JOYCE PACKARD DIRECTOR 1.0 8.0 X 0 0 0 WILTON LANNING DIRECTOR 1.0 8.0 X 0 0 0 CLEMENT MILAM CHAIRMAN 1.0 8.0 X X 0 0 0 TAMMY HARRALSON CONTROLLER 1.0 39.0 X 0 192387 45284 MURRAY WATSON PRESIDENT 1.0 39.0 X 0 986662 61945 THOMAS BEN LITLE EVP/COO 1.0 39.0 X 0 401383 72118 RICKY TURMAN EVP/CFO/TREASURER 1.0 39.0 X 0 394161 76111 SUSAN DAVIS SECRETARY 1.0 39.0 X 0 85612 27756 DARRELL BROOKS ASSISTANT TREASURER 1.0 39.0 X 0 139982 44561 KELLI VILLARRIAL VP, ASSOC. GEN. COUNSEL 1.0 39.0 X 0 261592 54365 0 2461779 382140 0 true true false 0 0 Interest Received on Student Loans 522294 81838291 81838291 LATE CHARGES 522294 904738 904738 82743029 386612 386612 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 83129641 82743029 386612 0 0 0 0 0 0 0 0 0 0 2645745 2645745 0 0 0 0 0 53999 53999 0 0 0 0 0 0 0 0 38389675 38389675 0 779243 779243 0 Dept of Education Rebate Fees 26325392 26325392 Servicing Expense 3020086 3020086 TRUSTEE FEE EXPENSE 298933 298933 Bad Debt Expense 114761 114761 8000 8000 71635834 71635834 0 0 0 0 43970777 42024097 0 0 0 0 0 0 0 0 2688832820 2402302555 0 0 0 0 0 0 0 0 0 0 0 0 5182465 4403222 32542459 33406803 2770528521 2482136677 3285747 3292115 0 0 0 0 0 0 0 0 0 0 2494643919 2194751900 0 0 0 0 2497929666 2198044015 X 272598855 284092662 0 0 0 0 272598855 284092662 2770528521 2482136677 11493807 X false true X true true true X 0 0 0 0 0 0 3664814 4386093 40948408 87410636 82743029 219152980 0 0 0 3664814 4386093 40948408 87410636 82743029 219152980 0 0 0 219152980 302 118 2577 55110 386612 444719 0 302 118 2577 55110 386612 444719 0 0 3665116 4386211 40950985 87465746 83129641 219597699 0.99797 0.99960 0.00202 0.00040 X 0 0 X 56804249 -26325392 -26325392 83129641 83129641 45310442 45310442 26325392 26325392 71635834 SCHEDULE D, PART X, LINE 2 Liability for Uncertain tax positions: The Authority 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 Authority 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 Authority 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 Authority files federal information returns in the United States. The Authority may be subject to examinations for the tax year ended June 30, 2014 and later by the Internal Revenue Service. The Authority is not currently under examination for any open tax year. The Authority follows the accounting standard related to the accounting for uncertainty in income taxes recognized in the Authoritys 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 Authority currently does not have any uncertain tax positions. Schedule D, Part XI, Line 2d Reconciliation of Revenue per audited financials with return: Department of Education Rebate Fees $(26,325,392) Schedule D, Part XII, Line 4b Reconciliation of expenses per audited financials with return: Department of Education Rebate Fees $26,325,392 false false false false false false false false false TAMMY HARRALSON CONTROLLER 0 165776 0 17647 0 8964 0 41658 0 3626 0 237671 0 0 MURRAY WATSON PRESIDENT 0 830765 0 76074 0 79823 0 58547 0 3398 0 1048607 0 0 THOMAS BEN LITLE EVP/COO 0 338455 0 33191 0 29737 0 57756 0 14362 0 473501 0 0 RICKY TURMAN EVP/CFO/TREASURER 0 338848 0 33508 0 21805 0 58149 0 17962 0 470272 0 0 DARRELL BROOKS ASSISTANT TREASURER 0 125795 0 14187 0 0 0 32830 0 11731 0 184543 0 0 KELLI VILLARRIAL VP, ASSOC. GEN. COUNSEL 0 230638 0 23670 0 7284 0 50337 0 4028 0 315957 0 0 Schedule J, Part I, Line 3 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 FORM 990, PART VI, SECTION A, LINE 3 Delegation of Duties: BRAZOS EDUCATION LOAN AUTHORITY, INC. (BELA) HAS A CONTRACT WITH BRAZOS HIGHER EDUCATION SERVICE CORPORATION, INC. TO PERFORM MANAGEMENT AND ADMINISTRATION SERVICES ON BELA'S BEHALF. THIS INCLUDES MASTER SERVICING ADMINISTRATION FOR THE OUTSTANDING STUDENT LOANS HELD BY BRAZOS EDUCATION LOAN AUTHORITY, INC. THE SERVICES INCLUDE, BUT ARE NOT LIMITED TO: ACCOUNTING, REPORTING, SERVICING, ORIGINATING, MARKETING, TREASURY, AND COMPLIANCE MONITORING OF THE STUDENT LOANS HELD BY BRAZOS EDUCATION LOAN AUTHORITY, INC. 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 Brazos Education Loan Authority, Inc. 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 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. ACADEMIC FINANCE CORPORATION PO BOX 1308 WACO TX 76703 742540458 STUD LOANS TX 501(C)(3) 10 NA true ACAPITA EDUCATION FINANCE CORPORATION PO BOX 1308 WACO TX 76703 742542435 STUD LOANS TX 501(C)(3) 10 NA true ANGELINA HIGHER EDUCATION AUTHORITY 2600 WASHINGTON AVE WACO TX 76710 200115078 STUD LOANS TX 501(C)(3) 10 NA true ATLANTIC STUDENT FINANCE CORPORATION 2600 WASHINGTON AVE WACO TX 76710 205412189 STUD LOANS FL 501(C)(3) 7 NA true BOSQUE HIGHER EDUCATION AUTHORITY INC PO BOX 1308 WACO TX 76703 742534099 STUD LOANS TX 501(C)(3) 10 NA true BRAZOS EDUCATION FINANCE CORPORATION 2600 WASHINGTON AVE WACO TX 76710 742539632 STUD LOANS TX 501(C)(3) 10 NA true Brazos Education Foundation Inc 2612 WASHINGTON AVE WACO TX 76703 264562436 Grant Making TX 501(C)(3) 7 BHESC true BRAZOS HIGHER EDUCATION AUTHORITY INC PO BOX 1308 WACO TX 76703 742099402 STUD LOANS TX 501(C)(3) 10 NA true BRAZOS STUDENT FINANCE CORPORATION PO BOX 1308 WACO TX 76703 742356109 STUD LOANS TX 501(C)(3) 10 NA true Brazos Education Lending Corporation 2600 WASHINGTON AVE WACO TX 76710 203870081 STUD LOANS TX 501(C)(3) 10 NA true EDINVEST COMPANY 2600 WASHINGTON AVE WACO TX 76710 742537669 STUD LOANS TX 501(C)(3) 10 NA true EDUCATION SERVICING MANAGEMENT CORP 2600 WASHINGTON AVE WACO TX 76710 203870046 STUD LOANS TX 501(C)(3) 10 NA true EDUCATIONAL FUNDING SERVICES INC PO BOX 1308 WACO TX 76703 330947525 STUD LOANS CA 501(C)(3) 10 NA true FEDERATED STUDENT FINANCE CORPORATION 2600 WASHINGTON AVE WACO TX 76710 742536239 STUD LOANS TX 501(C)(3) 10 NA true FRIO HIGHER EDUCATION AUTHORITY INC 2600 WASHINGTON AVE WACO TX 76710 203870120 STUD LOANS TX 501(C)(3) 10 NA true LAVACA HIGHER EDUCATION AUTHORITY INC 2600 WASHINGTON AVE WACO TX 76710 203870153 STUD LOANS TX 501(C)(3) 10 NA true BRAZOS EDUCATION FUNDING CORPORATION INC 2600 WASHINGTON AVE WACO TX 76710 203870176 STUD LOANS TX 501(C)(3) 10 NA true LLANO HIGHER EDUCATION AUTHORITY INC 2600 WASHINGTON AVE WACO TX 76710 203870219 STUD LOANS TX 501(C)(3) 10 NA true PALUXY HIGHER EDUCATION AUTHORITY INC 2600 WASHINGTON AVE WACO TX 76710 203868139 STUD LOANS TX 501(C)(3) 10 NA true ROZELL HIGHER EDUCATION AUTHORITY INC 2600 WASHINGTON AVE WACO TX 76710 203867891 STUD LOANS TX 501(C)(3) 10 NA true SABINE HIGHER EDUCATION AUTHORITY INC 2600 WASHINGTON AVE WACO TX 76710 203868185 STUD LOANS TX 501(C)(3) 10 NA true TEXOMA HIGHER EDUCATION AUTHORITY INC 2600 WASHINGTON AVE WACO TX 76710 203868230 STUD LOANS TX 501(C)(3) 10 NA true TRINITY HIGHER EDUCATION AUTHORITY INC 2600 WASHINGTON AVE WACO TX 76710 742534486 STUD LOANS TX 501(C)(3) 10 NA true BRAZOS HIGHER EDUCATION SERVICE CORP PO BOX 1308 WACO TX 76703 742129255 STUD LOANS TX 501(C)(3) 10 NA false INTERVIEWSTREAM INC 2612 WASHINGTON AVE WACO TX 76710 461208841 JOB INTERVIEW SVC TX NA C-CORPORATION true BRAZOS ASSET CORPORATION (BAC) 2600 WASHINGTON AVE WACO TX 76710 300835799 INVESTMENT TX See Part VII C-CORPORATION true false false false false false false false false false false false false true false false false false false false FORM 990, SCHEDULE R, PART IV 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