2017-02-09T16:36:09-06:00 2016-06-30 741130599 PATTILLO BROWN & HILL LLP P O BOX 20725 WACO TX 767020725 990 2015-07-01 203868073 BRAZOS EDUCATION LOAN AUTHORITY INC BRAZ 2547530915 2600 WASHINGTON AVE WACO TX 76710 RICKY TURMAN CFO 2547530915 2017-01-25 1 MIKE LUCAS CPA P00581536 2547724901 2015 2021-01-29 14:40:06Z RICKY TURMAN 2600 WASHINGTON AVE WACO TX 76710 87465746 0 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 0 0 0 0 0 40875785 87286153 2577 55110 72623 124483 40950985 87465746 0 0 0 0 0 0 0 0 0 30337368 68058143 30337368 68058143 10613617 19407603 3086968371 2770528521 2833777120 2497929666 253191251 272598855 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. 0 0 68058143 87410636 BRAZOS EDUCATION LOAN AUTHORITY SERVICED OVER 199,000 LOANS TOTALING OVER $2.6 BILLION UNDER THE TITLE IV FEDERAL FAMILY EDUCATION LOAN PROGRAM (FFELP). THESE LOANS WERE FUNDED THROUGH PERMANENT FINANCINGS. 68058143 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 X 8 8 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 X RICKY TURMAN CFO 2547530915 2600 WASHINGTON AVE WACO TX 76710 MRS JOYCE PACKARD CHAIRMAN 1.00 10.00 X 0 0 0 PETER KULTGEN VICE-CHAIRMAN 1.00 3.00 X 0 0 0 BOB CHAMBERS DIRECTOR 1.00 8.00 X 0 0 0 TOM CHASE DIRECTOR 1.00 3.00 X 0 0 0 CLAUDE ERVIN DIRECTOR 1.00 3.00 X 0 0 0 WILTON LANNING DIRECTOR 1.00 8.00 X 0 0 0 DR TERRY MANESS DIRECTOR 1.00 4.00 X 0 0 0 CLEMENT MILAM DIRECTOR 1.00 2.00 X 0 0 0 MURRY WATSON JR PRESIDENT/GEN COUNSEL 1.00 49.00 X 0 849956 38278 RICKY TURMAN EVP/CFO & TREASURER 1.00 49.00 X 0 378696 56482 THOMAS BEN LITLE EVP/COO/BOND COUNSEL 1.00 49.00 X 0 351440 53062 TAMMY HARRALSON CONTROLLER 1.00 49.00 X 0 183130 29696 DARRELL BROOKS ASST TREASURER 1.00 48.00 X 0 135882 33849 SUSAN DAVIS SECRETARY 1.00 49.00 X 0 89959 19832 ELLIS TREDWAY FORMER EVP/COO 1.00 49.00 X 0 488506 33131 DANIEL REYNA FORMER INTERNAL AUDIT DIRECTOR 1.00 47.00 X 0 153218 23642 JAMES MCINNIS FORMER ASST TREASURER 1.00 48.00 X 0 102327 17795 0 2733114 305767 0 1 1 0 0 INTEREST INCOME ON STUDENT LOANS 522294 86441590 86441590 LATE FEES 522294 844563 844563 87286153 55110 55110 PROVISION FOR LOAN LOSS 522294 124483 124483 124483 87465746 87410636 0 55110 53999 53999 31162427 31162427 879108 879108 DEPARTMENT OF EDUCATION 29235440 29235440 SERVICING EXPENSE 3436779 3436779 OPERATING EXPENSES 2943723 2943723 MISCELLANEOUS 346667 346667 68058143 68058143 0 0 53005451 43970777 2992504587 2688832820 6061574 5182465 35396759 32542459 3086968371 2770528521 3605462 3285747 2830171658 2494643919 2833777120 2497929666 X 253191251 272598855 0 0 0 0 253191251 272598855 3086968371 2770528521 X 19407603 1 X X 0 1 X 1 1 1 X 3664814 3460204 40875785 87286153 135286956 3664814 3460204 40875785 87286153 135286956 0 0 0 135286956 302 118 2577 55110 58107 302 118 2577 55110 58107 3665116 3460322 40878362 87341263 135345063 0.99960 0.99990 0.00040 0.00010 X 0 X 58230306 0 58230306 29235440 29235440 87465746 38822703 0 38822703 29235440 29235440 68058143 PART X, LINE 2: 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 CORPORATION HAD NO NET UNRELATED BUSINESS INCOME FOR THE YEARS ENDED JUNE 30, 2016 AND 2015. 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 ENDING JUNE 30, 2013 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 AUTHORITY'S 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. PART XI, LINE 4B - OTHER ADJUSTMENTS: DEPARTMENT OF EDUCATION REBATE FEES OFFSET AGAINST REVENUE ON AUDIT 29,235,440. PART XII, LINE 4B - OTHER ADJUSTMENTS: DEPARTMENT OF EDUCATION REBATE FEES OFFSET AGAINST REVENUE ON AUDIT 29,235,440. 1 0 0 0 0 0 0 0 0 MURRY WATSON JR PRESIDENT/GEN COUNSEL 0 655110 0 62205 0 132641 0 35000 0 3278 0 888234 0 0 RICKY TURMAN EVP/CFO & TREASURER 0 304979 0 35152 0 38565 0 35000 0 21482 0 435178 0 0 THOMAS BEN LITLE EVP/COO/BOND COUNSEL 0 296860 0 36477 0 18103 0 35000 0 18062 0 404502 0 0 TAMMY HARRALSON CONTROLLER 0 135580 0 17680 0 29870 0 22337 0 7359 0 212826 0 0 DARRELL BROOKS ASST TREASURER 0 111031 0 14637 0 10214 0 17756 0 16093 0 169731 0 0 ELLIS TREDWAY FORMER EVP/COO 0 71047 0 0 0 417459 0 27911 0 5220 0 521637 0 0 DANIEL REYNA FORMER INTERNAL AUDIT DIRECTOR 0 49949 0 15689 0 87580 0 18686 0 4956 0 176860 0 0 JAMES MCINNIS FORMER ASST TREASURER 0 23843 0 0 0 78484 0 11706 0 6089 0 120122 0 0 PART I, LINE 4A THE FOLLOWING RECEIVED SEVERANCE PAYMENTS FROM RELATED ENTITY BRAZOS HIGHER EDUCATION SERVICE CORPORATION, INC.: JAMES MCINNIS - $55,636 DANIEL REYNA - $82,379 ELLIS TREDWAY - $345,050 FORM 990, PART VI, SECTION A, LINE 3 BRAZOS EDUCATION LOAN AUTHORITY, INC. HAS A CONTRACT WITH BRAZOS HIGHER EDUCATION SERVICE CORPORATION, INC. TO PERFORM MANAGEMENT AND ADMINSTRATION SERVICES ON BELA'S BEHALF. THIS INCLUDES MASTER SERVICING ADMINSTRATION FOR THE OUTSTANDING STUDENT LOANS HELD BY BRAZOS EDUCATION LOAN AUTHORITY. 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. FORM 990, PART VI, SECTION B, LINE 11 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 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. FORM 990, PART VI, SECTION B, LINE 15 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 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: ROUNDING 1. FORM 990, PART XII, LINE 2C THE OVERSIGHT AND SELECTION PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. ACADEMIC FINANCE CORPORATION 2600 WASHINGTON AVE WACO TX 76710 742540458 FUND STUDENT LOANS TX 501(C)(3) LINE 9 1 ACAPITA EDUCATION FINANCE CORPORATION 2600 WASHINGTON AVE WACO TX 76710 742542435 FUND STUDENT LOANS TX 501(C)(3) LINE 9 1 ANGELINA HIGHER EDUCATION AUTHORITY INC 2600 WASHINGTON AVE WACO TX 76710 200115078 FUND STUDENT LOANS TX 501(C)(3) LINE 9 1 ATLANTIC STUDENT FINANCE CORPORATION 2600 WASHINGTON AVE WACO TX 76710 205412189 FUND STUDENT LOANS FL 501(C)(3) LINE 7 1 BOSQUE HIGHER EDUCATION AUTHORITY INC 2600 WASHINGTON AVE WACO TX 76710 742534099 FUND STUDENT LOANS TX 501(C)(3) LINE 9 1 BRAZOS EDUCATION FINANCE CORPORATION 2600 WASHINGTON AVE WACO TX 76710 742539632 FUND STUDENT LOANS TX 501(C)(3) LINE 9 1 BRAZOS HIGHER EDUCATION AUTHORITY INC 2600 WASHINGTON AVE WACO TX 76710 742099402 FUND STUDENT LOANS TX 501(C)(3) LINE 9 1 BRAZOS HIGHER EDUCATION SERVICE CORPORATION INC 2600 WASHINGTON AVE WACO TX 76710 742129255 FUND STUDENT LOANS TX 501(C)(3) LINE 9 1 BRAZOS EDUCATION FOUNDATION INC 2612 WASHINGTON AVE WACO TX 76703 264562436 GRANT MAKING TX 501(C)(3) LINE 7 1 BRAZOS STUDENT FINANCE CORPORATION 2600 WASHINGTON AVE WACO TX 76710 742356109 FUND STUDENT LOANS TX 501(C)(3) LINE 9 1 CONCHO HIGHER EDUCATION AUTHORITY INC 2600 WASHINGTON AVE WACO TX 76710 203870081 FUND STUDENT LOANS TX 501(C)(3) LINE 9 1 EDINVEST COMPANY 2600 WASHINGTON AVE WACO TX 76710 742537669 FUND STUDENT LOANS TX 501(C)(3) LINE 9 1 EDUCATION SERVICING MANAGEMENT CORPORATION 2600 WASHINGTON AVE WACO TX 76710 203870046 FUND STUDENT LOANS TX 501(C)(3) LINE 9 1 EDUCATIONAL FUNDING SERVICES INC 2600 WASHINGTON AVE WACO TX 76710 330947525 FUND STUDENT LOANS CA 501(C)(3) LINE 9 1 FEDERATED STUDENT FINANCE CORPORATION 2600 WASHINGTON AVE WACO TX 76710 742536239 FUND STUDENT LOANS TX 501(C)(3) LINE 9 1 FRIO HIGHER EDUCATION AUTHORITY INC 2600 WASHINGTON AVE WACO TX 76710 203870120 FUND STUDENT LOANS TX 501(C)(3) LINE 9 1 LAVACA HIGHER EDUCATION AUTHORITY INC 2600 WASHINGTON AVE WACO TX 76710 203870153 FUND STUDENT LOANS TX 501(C)(3) LINE 9 1 BRAZOS EDUCATION FUNDING CORPORATIONINC FKA LEON HIGHER EDUCATION AUTHORITY 2600 WASHINGTON AVE WACO TX 76710 203870176 FUND STUDENT LOANS TX 501(C)(3) LINE 9 1 LLANO HIGHER EDUCATION AUTHORITY INC 2600 WASHINGTON AVE WACO TX 76710 203870219 FUND STUDENT LOANS TX 501(C)(3) LINE 9 1 PALUXY HIGHER EDUCATION AUTHORITY INC 2600 WASHINGTON AVE WACO TX 76710 203868139 FUND STUDENT LOANS TX 501(C)(3) LINE 9 1 ROZELL HIGHER EDUCATION AUTHORITY INC 2600 WASHINGTON AVE WACO TX 76710 203867891 FUND STUDENT LOANS TX 501(C)(3) LINE 9 1 SABINE HIGHER EDUCATION AUTHORITY INC 2600 WASHINGTON AVE WACO TX 76710 203868185 FUND STUDENT LOANS TX 501(C)(3) LINE 9 1 TEXOMA HIGHER EDUCATION AUTHORITY INC 2600 WASHINGTON AVE WACO TX 76710 203868230 FUND STUDENT LOANS TX 501(C)(3) LINE 9 1 TRINITY HIGHER EDUCATION AUTHORITY INC 2600 WASHINGTON AVE WACO TX 76710 742534486 FUND STUDENT LOANS TX 501(C)(3) LINE 9 1 INTERVIEWSTREAM INC 2612 WASHINGTON AVE WACO TX 76710 461208841 JOB INTERVIEW SERVICE TX BRAZOS ASSET CORPORATION C 0 BRAZOS ASSET CORP 2600 WASHINGTON AVE WACO TX 76710 300835799 FINANCE-TRANS INVOLVING CREATION/LIQUIDATION/OWNERSHIP OF FINANCIAL ASSETS TX BRAZOS HIGHER EDUCATION SERVICE CORPORATION C 0 0 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 BRAZOS HIGHER EDUCATION SERVICE CORPORATION INC M 2943723