NEW MEXICO STUDENT LOAN GUARANTEE CORPORATION: Form 990, tax year 2013
View the entire original 990 at ProPublica ↗
- Organization
- NEW MEXICO STUDENT LOAN GUARANTEE CORPORATION (EIN 85-0291314)
- Tax period
- 2013-10-01 to 2014-09-30
- Filed
- 2015-07-29
- IRS object ID
- 201512109349300921
- Schema version
- 2013v4.0
- 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 | 2015-07-29T09:59:02-05:00 | ReturnTs |
| Tax Period End | 2014-09-30 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 850450765 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Urbielewicz Murphree CPAs PC | BusinessNameLine1 |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2469 Corrales Road Suite A-5 | AddressLine1 |
| City | Corrales | City |
| State | NM | State |
| ZIP Code | 87048 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2013-10-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 850291314 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | New Mexico Student Loan Guarantee Corporation | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | NEWM | BusinessNameControlTxt |
| Phone | 5057612040 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO Box 92230 | AddressLine1 |
| City | Albuquerque | City |
| State | NM | State |
| ZIP Code | 871992230 | ZIPCode |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | Brad Allpass | PersonNm |
| Person Title | Vice President of Finance | PersonTitleTxt |
| Phone | 5057612040 | PhoneNum |
| Signature | 2015-07-29 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | Karen Urbielewicz CPA | PreparerPersonNm |
| PTIN | P00228679 | PTIN |
| Phone | 5058977382 | PhoneNum |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2013 | TaxYr |
| Build TS | 2016-03-07 17:11:31Z | BuildTS |
Form 990 IRS990
Doing Business As Name DoingBusinessAsName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | New Mexico Student Loans | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | Michael Nemelka | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO Box 92230 | AddressLine1 |
| City | Albuquerque | City |
| State | NM | State |
| ZIP Code | 871992230 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $4,645,911 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | www.nmslgc.org | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1981 | FormationYr |
| Legal Domicile State | NM | LegalDomicileStateCd |
| Activity Or Mission | New Mexico Student Loan Guarantee Corporation is a loan guarantee organization providing quality financial services and cultivating strong professional relationships to encourage and assist in the pursuit of higher education, thus enhancing the quality of life and future success of our stakeholders. | ActivityOrMissionDesc |
| Voting Members Governing Body | 3 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 3 | VotingMembersIndependentCnt |
| Total Employee | 12 | TotalEmployeeCnt |
| Total Volunteers | 0 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $3,993,835 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $4,626,724 | CYProgramServiceRevenueAmt |
| PY Investment Income | $5,936 | PYInvestmentIncomeAmt |
| CY Investment Income | $19,187 | CYInvestmentIncomeAmt |
| PY Other Revenue | $0 | PYOtherRevenueAmt |
| CY Other Revenue | $0 | CYOtherRevenueAmt |
| PY Total Revenue | $3,999,771 | PYTotalRevenueAmt |
| CY Total Revenue | $4,645,911 | 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 | $1,011,685 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $1,132,601 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $2,490,849 | PYOtherExpensesAmt |
| CY Other Expenses | $2,498,184 | CYOtherExpensesAmt |
| PY Total Expenses | $3,502,534 | PYTotalExpensesAmt |
| CY Total Expenses | $3,630,785 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $497,237 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $1,015,126 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $14,363,857 | TotalAssetsBOYAmt |
| Total Assets EOY | $15,309,154 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $3,288,344 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $3,218,515 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $11,075,513 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $12,090,639 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | New Mexico Student Loan Guarantee Corporation is a loan guarantee organization providing quality financial services and cultivating strong professional relationships to encourage and assist in the pursuit of higher education, thus enhancing the quality of life and future success of our stakeholders. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Revenue | $721,770 | RevenueAmt |
| Desc | The Guarantee Corporation receives regulatory fees for participation in the Federal Family Educational Loan Program (FFELP). | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $2,646,978 | ExpenseAmt |
| Revenue | $3,904,954 | RevenueAmt |
| Desc | Student Loan Programs: Under the Federal Family Educational Loan Program (FFELP)-the Guarantee Corporation is required to collect on defaulted loans. | Desc |
Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $540,394 | ExpenseAmt |
| Desc | Student Loan Programs: Under the Federal Family Educational Loan Program (FFELP)- the Guarantor pays lender claims on defaulted loans. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Expenses | $3,187,372 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (1) | DescribedInSection501c3Ind |
| Schedule B Required | 0 | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Lobbying Activities | 0 | LobbyingActivitiesInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Temp Or Permanent Endowments | 0 | TempOrPermanentEndowmentsInd |
| Report Land Building Equipment | 0 | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | Yes (1) | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | 0 | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | 0 | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | 0 | PYExcessBenefitTransInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With Officer Ent | 0 | BusinessRlnWithOfficerEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | 0 | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 2 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Employee | 12 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 3 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 3 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | 0 | MembersOrStockholdersInd |
| Election Of Board Members | 0 | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | NM | StatesWhereCopyOfReturnIsFldCd |
| Other Website | Yes (X) | OtherWebsiteInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Brad Allpass | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 5057612063 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 7400 Tiburon NE | AddressLine1 |
| City | Albuquerque | City |
| State | NM | State |
| ZIP Code | 87109 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part VII | Yes (X) | InfoInScheduleOPartVIIInd |
Form990 Part VII Section A Form990PartVIISectionAGrp (7 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | OfficerOfficerInd | Former Ofcr Director TrusteeFormerOfcrDirectorTrusteeInd |
|---|---|---|---|---|---|---|---|
| Dion Kidd-Johnson | |||||||
| Director/Chair | 5.00 | Yes (X) | $0 | $0 | $0 | ||
| Elwood Farber | |||||||
| Director | 5.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | |
| Pauline Garcia | |||||||
| Director/NMEAF Chair | 5.00 | Yes (X) | $0 | $0 | $0 | ||
| Brad Allpass | |||||||
| Vice President of Finance | 10.00 | $0 | $166,098 | $0 | Yes (X) | ||
| Grace Tackman | |||||||
| Assistant Vice President | 10.00 | $0 | $96,975 | $0 | Yes (X) | ||
| Michael Nemelka | |||||||
| President | 10.00 | $0 | $137,122 | $0 | Yes (X) | ||
| Elwood Farber | |||||||
| Former President | 10.00 | $0 | $280,768 | $0 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $0 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $680,963 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $0 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 0 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | Yes (1) | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1 | CityContractorAddress/USAddress/City | StateContractorAddress/USAddress/State | ZIP CodeContractorAddress/USAddress/ZIPCode | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| NCOOSI Collection Agency | |||||
| PO Box 935 | Brookfield | WI | 530080935 | Collection Services for Defaulted Loans | $632,300 |
| DCS Collection Agency | |||||
| 333 North Canyon Parkway | Livermore | CA | 94551 | Collection Services for Defaulted Loans | $604,937 |
| New Mexico Educational Assistance Founda | |||||
| 7400 Tiburon NE | Albuquerque | NM | 87109 | Building Space, Clerical and Technical | $583,458 |
| AESPHEAA | |||||
| PO Box 64849 | Baltimore | MD | 21264 | Program System and Maintenance | $353,245 |
| Premiere Collection Agency | |||||
| 2002 N Wellesley Blvd | Indianapolis | IN | 46219 | Collection Services for Defaulted Loans | $316,111 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 5 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| Retained Collections f | 522200 | $3,859,150 | $3,859,150 |
| Account Maintenance an | 522200 | $721,770 | $721,770 |
| Default Aversion Servi | 522200 | $45,804 | $45,804 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $4,626,724 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $19,187 | TotalRevenueColumnAmt |
| Exclusion | $19,187 | ExclusionAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $4,645,911 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $4,626,724 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $19,187 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part IX | Yes (X) | InfoInScheduleOPartIXInd |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $132,881 | TotalAmt |
| Management And General | $132,881 | ManagementAndGeneralAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $767,315 | TotalAmt |
| Program Services | $643,022 | ProgramServicesAmt |
| Management And General | $124,293 | ManagementAndGeneralAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $46,745 | TotalAmt |
| Program Services | $38,044 | ProgramServicesAmt |
| Management And General | $8,701 | ManagementAndGeneralAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $138,654 | TotalAmt |
| Program Services | $91,115 | ProgramServicesAmt |
| Management And General | $47,539 | ManagementAndGeneralAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $47,006 | TotalAmt |
| Program Services | $39,238 | ProgramServicesAmt |
| Management And General | $7,768 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $23,548 | TotalAmt |
| Management And General | $23,548 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,118,492 | TotalAmt |
| Program Services | $2,115,992 | ProgramServicesAmt |
| Management And General | $2,500 | ManagementAndGeneralAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $93,499 | TotalAmt |
| Program Services | $84,463 | ProgramServicesAmt |
| Management And General | $9,036 | ManagementAndGeneralAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $44,872 | TotalAmt |
| Program Services | $26,765 | ProgramServicesAmt |
| Management And General | $18,107 | ManagementAndGeneralAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $69,961 | TotalAmt |
| Program Services | $50,372 | ProgramServicesAmt |
| Management And General | $19,589 | ManagementAndGeneralAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $14,621 | TotalAmt |
| Program Services | $1,092 | ProgramServicesAmt |
| Management And General | $13,529 | ManagementAndGeneralAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $81 | TotalAmt |
| Program Services | $81 | ProgramServicesAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $27,790 | TotalAmt |
| Management And General | $27,790 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp (2 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt |
|---|---|---|---|
| Default Loss Provision | $97,188 | $97,188 | |
| Business Recovery Expen | $8,132 | $8,132 |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,630,785 | TotalAmt |
| Program Services | $3,187,372 | ProgramServicesAmt |
| Management And General | $443,413 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $11,652,032 | BOYAmt |
| EOY | $10,552,478 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,702,562 | BOYAmt |
| EOY | $1,743,273 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $9,263 | BOYAmt |
| EOY | $13,403 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,000,000 | BOYAmt |
| EOY | $3,000,000 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $14,363,857 | BOYAmt |
| EOY | $15,309,154 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $860,153 | BOYAmt |
| EOY | $935,709 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,428,191 | BOYAmt |
| EOY | $2,282,806 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,288,344 | BOYAmt |
| EOY | $3,218,515 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows SFAS117 | Yes (X) | OrganizationFollowsSFAS117Ind |
Unrestricted Net Assets UnrestrictedNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $10,161,061 | BOYAmt |
| EOY | $11,167,570 | EOYAmt |
Permanently Rstr Net Assets PermanentlyRstrNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $914,452 | BOYAmt |
| EOY | $923,069 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $11,075,513 | BOYAmt |
| EOY | $12,090,639 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $14,363,857 | BOYAmt |
| EOY | $15,309,154 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | $1,015,126 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | $0 | OtherChangesInNetAssetsAmt |
| Info In Schedule O Part XII | Yes (X) | InfoInScheduleOPartXIIInd |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | 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 (1) | AuditCommitteeInd |
| Federal Grant Audit Required | Yes (1) | FederalGrantAuditRequiredInd |
| Federal Grant Audit Performed | Yes (1) | FederalGrantAuditPerformedInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Publicly Supported Org509a2 | Yes (X) | PubliclySupportedOrg509a2Ind |
Gross Receipts Admissions GrossReceiptsAdmissionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $4,502,278 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $2,286,016 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $2,681,930 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $3,991,907 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $4,580,920 | CurrentTaxYearAmt |
| Total | $18,043,051 | TotalAmt |
Total509 Total509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $4,502,278 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $2,286,016 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $2,681,930 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $3,991,907 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $4,580,920 | CurrentTaxYearAmt |
| Total | $18,043,051 | 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 | $18,043,051 | PublicSupportTotal509Amt |
Gross Investment Income509 GrossInvestmentIncome509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $10,587 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $6,636 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $5,705 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $5,936 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $19,187 | CurrentTaxYearAmt |
| Total | $48,051 | TotalAmt |
Investment Income And UBTI InvestmentIncomeAndUBTIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $10,587 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $6,636 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $5,705 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $5,936 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $19,187 | CurrentTaxYearAmt |
| Total | $48,051 | TotalAmt |
Total Support Calendar Year TotalSupportCalendarYearGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $4,512,865 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $2,292,652 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $2,687,635 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $3,997,843 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $4,600,107 | CurrentTaxYearAmt |
| Total | $18,091,102 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Support CY509 | 0.99730 | PublicSupportCY509Pct |
| Public Support PY509 | 0.99710 | PublicSupportPY509Pct |
| Investment Income CY | 0.00270 | InvestmentIncomeCYPct |
| Investment Income PY | 0.00290 | InvestmentIncomePYPct |
| Thirty Thr Pct Suprt Tests CY509 | Yes (X) | ThirtyThrPctSuprtTestsCY509Ind |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $0 | TotalBookValueLandBuildingsAmt |
Other Securities OtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | Bank of Oklahoma Long Term CD | Desc |
| Book Value | $3,000,000 | BookValueAmt |
| Method Valuation | C | MethodValuationCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Securities | $3,000,000 | TotalBookValueSecuritiesAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | Default Reserves | Desc |
| Amt | $2,282,806 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $2,282,806 | TotalLiabilityAmt |
| Total Rev Etc Audited Fincl Stmt | $4,645,911 | TotalRevEtcAuditedFinclStmtAmt |
| Revenue Not Reported | $0 | RevenueNotReportedAmt |
| Revenue Subtotal | $4,645,911 | RevenueSubtotalAmt |
| Revenue Not Reported Fincl Stmt | $0 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $4,645,911 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $3,630,785 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $3,630,785 | ExpensesSubtotalAmt |
| Expenses Not Rpt Fincl Stmt | $0 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $3,630,785 | TotalExpensesPerForm990Amt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Written Employment Contract | Yes (X) | WrittenEmploymentContractInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | 0 | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | 0 | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | 0 | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | 0 | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | 0 | AnyNonFixedPaymentsInd |
| Initial Contract Exception | 0 | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (2 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Brad Allpass | ||||||||||||||
| Vice President of Finance | $0 | $157,441 | $0 | $7,762 | $0 | $895 | $0 | $0 | $0 | $0 | $0 | $166,098 | $0 | $0 |
| Elwood Farber | ||||||||||||||
| Former President | $0 | $262,746 | $0 | $18,022 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $280,768 | $0 | $0 |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (8 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Form 990, Part VI, Section B, line 11 | NMSLGC's process to review Form 990. After the independent accountants have prepared the Form 990, it is sent to the Accounting Department of NMSLGC where it is reviewed. The Form 990 is then reviewed by the Vice President of Finance. All changes are then forwarded to the independent accountant. When completed the Form 990 is reviewed again and the Vice President of Finance sends a copy to the members of the governing body to comment. After all comments are reviewed and final changes made, the Vice President of Finance will allow the independent accountant to electronically file the Form 990. |
| Form 990, Part VI, Section B, line 12c | To guard against situations involving a conflict of interest, all directors, officers and employees will receive a copy of New Mexico Student Loans' (NMSL) "Code of Conduct" and must complete and sign an annual disclosure statement identifying his or her business and/or property and financial interests in any organization that has or is interested in having any contract with NMSL. Additionally, directors, officers and employees are prohibited from using his/her official status to interfere with a public election, solicit or coerce contributions for political purposes, or use organizational funds for a political candidate. An employee who wishes to become a candidate for public office must have Board approval. Any conflict of interest for a director, officer, employee, or family members thereof with regards to a financial interest or business dealing (unless with a division of the State of New Mexico) must be disclosed at Board meetings. These dealing are to be reflected in the minutes. |
| Form 990, Part VI, Section B, line 15 | The President's salary is set by analyzing competitors' salaries annually. The compensation is enumerated by contract and discussed by the Board in executive session. Deliberations are documented in the minutes and suported by a performance evaluation. Employee's salaries are set by analyzing competitors' salaries annually. The compensation is enumerated by an approved salary structure within set ranges. Deliberations by upper management are documented with a performance evaluation. Raise pools and total salaries expense is reviewed and approved by the Board. |
| Form 990, Part VI, Section C, line 19 | NMSLGC posts the audited financial statements on their website. Audited financial statements are sent to Dun and Bradstreet and are available through that website as well. Copies of the audited financials and notes are available at request. Governing documents and internal policies are not made available to the public at this time. |
| Form 990, Part VI, Section B, Line 15a and b | Form W-2, Box 5 does not include Employee Deductions which were removed pre-tax. The amount reported on Form 990, Part VII and Schedule J include these Employee Deductions. |
| Form 990, Part VII | Officers spend an estimated average of 10 hours a week devoted to NMSLGC for which compensation was reported in columns (E) and (F). |
| Form 990, Part IX, line 11g | Service Fees: Program service expenses 468,992. Management and general expenses 0. Fundraising expenses 0. Total expenses 468,992. Collection Agency Expense: Program service expenses 1,558,723. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,558,723. Registration, Subscriptions and Dues: Program service expenses 0. Management and general expenses 1,530. Fundraising expenses 0. Total expenses 1,530. Outside services: Program service expenses 87,642. Management and general expenses 970. Fundraising expenses 0. Total expenses 88,612. Default Prevention Expense: Program service expenses 635. Management and general expenses 0. Fundraising expenses 0. Total expenses 635. |
| Form 990, Part XII, Line 2c | There has been no change in the process for oversight of the audit or selection of an independent auditor. |
Schedule R IRS990ScheduleR
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp
Disregarded Entity Name DisregardedEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | New Mexico Educational Assistance Foundation | BusinessNameLine1 |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 7400 Tiburon NE | AddressLine1 |
| City | Albuquerque | City |
| State | NM | State |
| ZIP Code | 87109 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 850291313 | EIN |
| Primary Activities | FFELP Student Loan Lender | PrimaryActivitiesTxt |
| Legal Domicile State | NM | LegalDomicileStateCd |
| Exempt Code Section | 501(c)(3) | ExemptCodeSectionTxt |
| Public Charity Status | Line 9 | PublicCharityStatusTxt |
| Direct Controlling NA | N/A | DirectControllingNACd |
| Controlled Organization | 0 | ControlledOrganizationInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | 0 | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | 0 | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | 0 | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | 0 | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | 0 | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | 0 | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | Yes (1) | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | 0 | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | Yes (1) | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | 0 | SharingOfFacilitiesInd |
| Paid Employees Sharing | 0 | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | Yes (1) | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | 0 | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |
Transactions Related Org TransactionsRelatedOrgGrp (3 entries)
| Transaction TypeTransactionTypeTxt | InvolvedInvolvedAmt | Method Of Amount DeterminationMethodOfAmountDeterminationTxt |
|---|---|---|
| New Mexico Educational Assistance Foundation | ||
| K | $79,147 | Expenses |
| New Mexico Educational Assistance Foundation | ||
| M | $348,555 | Expenses |
| New Mexico Educational Assistance Foundation | ||
| P | $463,994 | Expenses |
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