2016-03-18T10:37:49-05:00 2015-06-30 741130599 PATTILLO BROWN & HILL LLP P O BOX 20725 WACO TX 767020725 990 2014-07-01 742534099 BOSQUE HIGHER EDUCATION AUTHORITY INC BOSQ 2547530915 2600 WASHINGTON AVE WACO TX 76710 RICKY TURMAN CFO 2547530915 2016-02-05 1 MIKE LUCAS CPA P00581536 2547724901 2014 2016-08-17 19:52:53Z X RICKY TURMAN 2600 WASHINGTON AVE WACO TX 76710 198032 0 X WWW.BRAZOS.US.COM X 1989 TX BOSQUE'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 225107 198027 8 5 0 0 225115 198032 0 0 0 0 0 0 0 0 0 176757 65613 176757 65613 48358 132419 5669650 5439071 608873 495876 5060777 4943195 BOSQUE IS A SECONDARY MARKET OF COLLEGE STUDENT LOANS UNDER THE FEDERAL FAMILY EDUCATION LOAN PROGRAM (FFELP). BOSQUE'S MISSION IS TO MAKE EDUCATION A REALITY BY SUPPORTING PROGRAMS AND INITIATIVES TO FINANCE EDUCATIONAL OPPORTUNITIES. 0 0 65613 198027 BOSQUE SERVICED 908 LOANS TOTALING OVER $3.8 MILLION UNDER THE TITLE IVFEDERAL FAMILY EDUCATION LOAN PROGRAM (FFELP) AND OTHER ALTERNATIVE STUDENT LOANS PROGRAMS. THIS INCLUDED OVER $2.2 MILLION OF TITLE IV LOANS AND OVER $1.6 MILLION ALTERNATIVE LOANS. THESE LOANS WERE FUNDED WITH COMPANY FUNDS. 65613 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 25 0 1 0 0 0 0 0 0 0 0 0 0 0 X 8 8 1 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 NORMAN L HAY JR VICE CHAIRMAN 1.00 2.00 X 0 0 0 JOHN PERRY DIRECTOR 1.00 4.00 X 0 0 0 DR JOSEPH VELEZ DIRECTOR 1.00 3.00 X 0 0 0 DR TERRY MANESS DIRECTOR 1.00 4.00 X 0 0 0 CLAUDE ERVIN DIRECTOR 1.00 3.00 X 0 0 0 JOHN HATCHEL DIRECTOR 1.00 3.00 X 0 0 0 LARRY SMITH DIRECTOR 1.00 3.00 X 0 0 0 MURRAY WATSON PRESIDENT/GENERAL COUNSEL 1.00 49.00 X 0 1049193 36775 RICKY TURMAN EVP/CFO 1.00 49.00 X 0 447329 55565 ELLIS TREDWAY EVP/COO 1.00 49.00 X 0 468566 48483 THOMAS BEN LITLE EVP/COO 1.00 49.00 X 0 523131 47232 TAMMY HARRALSON CONTROLLER/VP 1.00 49.00 X 0 190153 32938 DANIEL REYNA INTERNAL AUDIT DIRECTOR 1.00 47.00 X 0 132199 23940 DARRELL BROOKS TREASURER 1.00 48.00 X 0 144377 36119 JAMES MCINNIS TREASURER 1.00 48.00 X 0 104231 22255 SUSAN DAVIS SECRETARY 1.00 49.00 X 0 93565 20813 RAY RUSHING SECRETARY 1.00 48.00 X 0 0 0 DAVID HORNER FORMER EVP 1.00 47.00 X 0 118599 31726 KELLI VILLARRIAL FORMER VP/ASSOC GEN COUNSEL 1.00 47.00 X 0 267091 41960 0 3538434 397806 0 1 1 0 0 INTEREST ON STUDENT LO 522294 196028 196028 LATE CHARGES 522294 1999 1999 198027 5 5 198032 198027 0 5 VALUATION/BAD DEBT EXPE 44521 44521 SERVICING EXPENSE 16081 16081 DEPT OF EDUCATION REBAT 4528 4528 MISCELLANEOUS 483 483 65613 65613 0 0 1491645 1232245 10433 21942 607020 494019 3499104 3638528 61448 52337 5669650 5439071 608873 495876 608873 495876 X 5060777 4943195 0 0 0 0 5060777 4943195 5669650 5439071 X 132419 -250001 X X 0 1 X 1 1 1 X 1892758 3230306 205414 220378 198027 5746883 1892758 3230306 205414 220378 198027 5746883 0 0 0 5746883 165 102 14 8 5 294 165 102 14 8 5 294 1892923 3230408 205428 220386 198032 5747177 0.99990 0.99990 0.00010 0.00010 X 0 X 193504 0 193504 4528 4528 198032 61085 0 61085 4528 4528 65613 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 THAT 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, 2015 AND 2014. 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 YEARS ENDING JUNE 30, 2012, 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 HAS NO UNCERTAIN TAX POSITIONS. PART XI, LINE 4B - OTHER ADJUSTMENTS: DEPT OF EDUCATION REBATE FEES OFFSET AGAINST REVENUE ON AUDIT 4,528. PART XII, LINE 4B - OTHER ADJUSTMENTS: DEPT OF EDUCATION REBATE FEES OFFSET AGAINST REVENUE ON AUDIT 4,528. 1 0 0 0 0 0 0 0 0 MURRAY WATSON PRESIDENT/GENERAL COUNSEL 0 607294 0 356012 0 85887 0 33500 0 3275 0 1085968 0 0 RICKY TURMAN EVP/CFO 0 296397 0 126166 0 24766 0 33500 0 22065 0 502894 0 0 ELLIS TREDWAY EVP/COO 0 311190 0 130059 0 27317 0 33500 0 14983 0 517049 0 0 THOMAS BEN LITLE EVP/COO 0 442517 0 63644 0 16970 0 31609 0 15623 0 570363 0 0 TAMMY HARRALSON CONTROLLER/VP 0 130186 0 42422 0 17545 0 24883 0 8055 0 223091 0 0 DANIEL REYNA INTERNAL AUDIT DIRECTOR 0 102356 0 29843 0 0 0 16150 0 7790 0 156139 0 0 DARRELL BROOKS TREASURER 0 106125 0 26273 0 11979 0 19327 0 16792 0 180496 0 0 DAVID HORNER FORMER EVP 0 100375 0 2430 0 15794 0 13800 0 17926 0 150325 0 0 KELLI VILLARRIAL FORMER VP/ASSOC GEN COUNSEL 0 182727 0 54907 0 29457 0 33500 0 8460 0 309051 0 0 PART I, LINE 4A DAVID HORNER RECEIVED A SEVERANCE PAYMENT FROM THE RELATED ENTITY, BRAZOS HIGHER EDUCATION SERVICE CORPORATION, INC., IN THE AMOUNT OF $287,686.32. FORM 990, PART VI, SECTION A, LINE 2 RAY RUSHING, AN OFFICER OF THE COMPANY, IS AN EMPLOYEE OF A LAW FIRM OWNED BY MURRAY WATSON, JR., ALSO AN OFFICER OF THE COMPANY. FORM 990, PART VI, SECTION A, LINE 3 BOSQUE HIGHER EDUCATION AUTHORITY HAS A CONTRACT WITH BRAZOS HIGHER EDUCATION SERVICE CORPORATION, INC. TO PERFORM MANAGEMENT AND ADMINSTRATION SERVICES ON BOSQUE'S BEHALF. THIS INCLUDES MASTER SERVICING ADMINSTRATION FOR THE OUTSTANDING STUDENT LOANS HELD BY BOSQUE. THE SERVICES INCLUDE, BUT ARE NOT LIMITED TO: ACCOUNTING, REPORTING, SERVICING, ORIGINATING, MARKETING, TREASURY, AND COMPLIANCE MONITORING OF THE STUDENT LOANS HELD BY BOSQUE. 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. INCLUDED WITH THE QUESTIONNAIRE IS A LISTING OF VENDORS UTILIZED BY THE ORGANIZATION. 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 BOSQUE HIGHER EDUCATION 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: EQUITY DISTRIBUTION -250,000. ROUNDING -1. FORM 99, 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 ANGELINA HIGHER EDUCATION AUTHORITY INC 2600 WASHINGTON AVE WACO TX 76710 200115078 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 ATLANTIC STUDENT FINANCE CORPORATION 2600 WASHINGTON AVE WACO TX 76710 205412189 FUND STUDENT LOANS FL 501(C)(3) LINE 7 1 BRAZOS EDUCATION FINANCE CORPORATION 2600 WASHINGTON AVE WACO TX 76710 742539632 FUND STUDENT LOANS TX 501(C)(3) LINE 9 1 BRAZOS EDUCATION LOAN AUTHORITY INC 2600 WASHINGTON AVE WACO TX 76710 203868073 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 N/A C 0 BRAZOS ASSET CORP 2600 WASHINGTON AVE WACO TX 76710 300835799 FINANCE-TRANS INVOLVING CREATION/LIQUIDATION/OWNERSHIP OF FINANANCIAL ASSETS TX N/A C 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 BRAZOS HIGHER EDUCATION SERVICE CORPORATION INC B 250000 FMV