NEW MEXICO EDUCATIONAL ASSISTANCE FOUNDATION: Form 990, tax year 2013
View the entire original 990 at ProPublica ↗
- Organization
- NEW MEXICO EDUCATIONAL ASSISTANCE FOUNDATION (EIN 85-0291313)
- Tax period
- 2013-07-01 to 2014-06-30
- Filed
- 2015-05-12
- IRS object ID
- 201521329349303972
- 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
- Form 990
- Schedule A
- Schedule C
- Schedule D
- Schedule J
- Schedule K
- Schedule K
- Schedule O
- Schedule R
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2015-05-12T15:39:29-05:00 | ReturnTs |
| Tax Period End | 2014-06-30 | 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 | 4940 Corrales Road Suite 200 | AddressLine1 |
| City | Corrales | City |
| State | NM | State |
| ZIP Code | 87048 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2013-07-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 850291313 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | New Mexico Educational Assistance Foundation | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | NEWM | BusinessNameControlTxt |
| Phone | 5057612063 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO Box 27020 | AddressLine1 |
| City | Albuquerque | City |
| State | NM | State |
| ZIP Code | 871257020 | ZIPCode |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | Brad Allpass | PersonNm |
| Person Title | Vice President of Finance | PersonTitleTxt |
| Phone | 5057612063 | PhoneNum |
| Signature | 2015-05-12 | 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 | 2016-02-25 16:41:14Z | 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 27020 | AddressLine1 |
| City | Albuquerque | City |
| State | NM | State |
| ZIP Code | 871257020 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $23,736,445 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | www.nmstudentloans.org | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1981 | FormationYr |
| Legal Domicile State | NM | LegalDomicileStateCd |
| Activity Or Mission | To create educational opportunities for the residents of New Mexico by providing student loans. | ActivityOrMissionDesc |
| Voting Members Governing Body | 5 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 5 | VotingMembersIndependentCnt |
| Total Employee | 124 | TotalEmployeeCnt |
| Total Volunteers | 0 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $293,185 | PYContributionsGrantsAmt |
| CY Contributions Grants | $329,609 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $26,258,951 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $23,374,752 | CYProgramServiceRevenueAmt |
| PY Investment Income | $324,223 | PYInvestmentIncomeAmt |
| CY Investment Income | $32,084 | CYInvestmentIncomeAmt |
| PY Other Revenue | $0 | PYOtherRevenueAmt |
| CY Other Revenue | $0 | CYOtherRevenueAmt |
| PY Total Revenue | $26,876,359 | PYTotalRevenueAmt |
| CY Total Revenue | $23,736,445 | 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 | $7,486,723 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $8,246,162 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $23,077,299 | PYOtherExpensesAmt |
| CY Other Expenses | $16,496,883 | CYOtherExpensesAmt |
| PY Total Expenses | $30,564,022 | PYTotalExpensesAmt |
| CY Total Expenses | $24,743,045 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | -$3,687,663 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | -$1,006,600 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $967,148,854 | TotalAssetsBOYAmt |
| Total Assets EOY | $916,329,911 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $838,919,629 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $791,121,336 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $128,229,225 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $125,208,575 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | New Mexico Student Loans is an association of full service lending, loan servicing and loan guarantee organizations 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 |
| Expense | $18,315,320 | ExpenseAmt |
| Revenue | $22,743,229 | RevenueAmt |
| Desc | Student Loan Programs: Originate, purchase and service student loans. Program service expense amounts include cost of interest on debt issued to fund loans. The number of outstanding loans on 6/30/14 was 154,364. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $631,523 | ExpenseAmt |
| Revenue | $631,523 | RevenueAmt |
| Desc | Student Loan Programs: Provide administrative service for the New Mexico Student Loan Guarantee Corporation, functioning as the Guaranty Agency under the Guaranteed Student Loan Program (Federal Family Education Loan Program.) | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Expenses | $18,946,843 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (1) | DescribedInSection501c3Ind |
| Schedule B Required | 0 | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Lobbying Activities | Yes (1) | LobbyingActivitiesInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | Yes (1) | CreditCounselingInd |
| Temp Or Permanent Endowments | 0 | TempOrPermanentEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | Yes (1) | 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 | Yes (1) | TaxExemptBondsInd |
| Invest Tax Exempt Bonds | 0 | InvestTaxExemptBondsInd |
| Escrow Account | 0 | EscrowAccountInd |
| On Behalf Of Issuer | Yes (1) | OnBehalfOfIssuerInd |
| 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 | 10389 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 124 | 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 |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | 0 | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | 0 | PayPremiumsPrsnlBnftCntrctInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 5 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 5 | 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 | Yes (1) | 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
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | Brad Allpass | PersonNm |
| 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 |
Form990 Part VII Section A Form990PartVIISectionAGrp (10 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt | OfficerOfficerInd | Former Ofcr Director TrusteeFormerOfcrDirectorTrusteeInd |
|---|---|---|---|---|---|---|---|---|
| Dan Salzwedel | ||||||||
| Vice Chairperson | 2.00 | Yes (X) | $0 | $0 | $0 | |||
| Eileen Givler | ||||||||
| Secretary/Treasurer | 2.00 | Yes (X) | $0 | $0 | $0 | |||
| Marilyn B Hill | ||||||||
| Director | 2.00 | Yes (X) | $0 | $0 | $0 | |||
| Pauline Garcia | ||||||||
| Chairperson | 2.00 | Yes (X) | $0 | $0 | $0 | |||
| Brad Allpass | ||||||||
| Vice President, Finance | 30.00 | $165,204 | $0 | $11,765 | 10.00 | Yes (X) | ||
| Lucas Covington | ||||||||
| Asst. Vice Pres, Info Tech | 30.00 | $111,200 | $0 | $21,639 | 10.00 | Yes (X) | ||
| Grace Tackman | ||||||||
| Asst. Vice Pres, Human Res | 30.00 | $95,841 | $0 | $7,514 | 10.00 | Yes (X) | ||
| Michael Nemelka | ||||||||
| Executive Vice President | 30.00 | $183,170 | $0 | $16,818 | 10.00 | Yes (X) | ||
| Elwood Farber | ||||||||
| Former President | 0.00 | $138,851 | $0 | $19,539 | Yes (X) | |||
| Christopher Sanchez | ||||||||
| Former Director Internal Audit | 0.00 | $120,394 | $0 | $12,934 | Yes (X) | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $814,660 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $90,209 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 6 | 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 |
|---|---|---|---|---|---|
| Avtex | |||||
| 3500 American Blvd West Suite 300 | Bloomington | MN | 55431 | Telephone System Install | $517,771 |
| Data Print | |||||
| 5201 Venice Avenue SE Suite E | Albuquerque | NM | 87113 | Outside Mail Service | $385,720 |
| North Texas Higher Education | |||||
| 4381 W Green Blvd Suite 200 | Arlington | TX | 76016 | Legal Fees | $247,436 |
| DellMarketing | |||||
| 1 Dell Way | Round Rock | TX | 78682 | Computer Systems & Maintenance | $155,968 |
| Nelnet IFA | |||||
| 121 S 13th Street Suite 201 | Lincoln | NE | 68508 | Computer Software Maintenance | $150,000 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 5 | CntrctRcvdGreaterThan100KCnt |
| Government Grants | $329,609 | GovernmentGrantsAmt |
| Total Contributions | $329,609 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (5 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| Student Loan Interest | 900099 | $31,220,763 | $31,220,763 |
| Late and Legal Fees | 900099 | $1,262,087 | $1,262,087 |
| Service Fees | 900099 | $631,523 | $631,523 |
| Purchase Fees | 900099 | $88,195 | $88,195 |
| Other Revenue | 900009 | $5,895 | $5,895 |
Total Oth Program Service Rev TotalOthProgramServiceRevGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -$9,833,711 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | -$9,833,711 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $23,374,752 | TotalProgramServiceRevenueAmt |
Incm From Invest Bond Proceeds IncmFromInvestBondProceedsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $32,084 | TotalRevenueColumnAmt |
| Exclusion | $32,084 | ExclusionAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $23,736,445 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $23,374,752 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $32,084 | ExclusionAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,075,757 | TotalAmt |
| Program Services | $268,939 | ProgramServicesAmt |
| Management And General | $806,818 | ManagementAndGeneralAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,536,770 | TotalAmt |
| Program Services | $3,398,595 | ProgramServicesAmt |
| Management And General | $2,138,175 | ManagementAndGeneralAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $226,037 | TotalAmt |
| Program Services | $146,139 | ProgramServicesAmt |
| Management And General | $79,898 | ManagementAndGeneralAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $945,068 | TotalAmt |
| Program Services | $580,753 | ProgramServicesAmt |
| Management And General | $364,315 | ManagementAndGeneralAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $462,530 | TotalAmt |
| Program Services | $273,009 | ProgramServicesAmt |
| Management And General | $189,521 | ManagementAndGeneralAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $383,205 | TotalAmt |
| Management And General | $383,205 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $41,730 | TotalAmt |
| Management And General | $41,730 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $617,785 | TotalAmt |
| Program Services | $510,208 | ProgramServicesAmt |
| Management And General | $107,577 | ManagementAndGeneralAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $24,659 | TotalAmt |
| Program Services | $20,598 | ProgramServicesAmt |
| Management And General | $4,061 | ManagementAndGeneralAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,041,583 | TotalAmt |
| Program Services | $775,333 | ProgramServicesAmt |
| Management And General | $266,250 | ManagementAndGeneralAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $407,392 | TotalAmt |
| Management And General | $407,392 | ManagementAndGeneralAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $416,545 | TotalAmt |
| Program Services | $226,646 | ProgramServicesAmt |
| Management And General | $189,899 | ManagementAndGeneralAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $76,305 | TotalAmt |
| Program Services | $36,652 | ProgramServicesAmt |
| Management And General | $39,653 | ManagementAndGeneralAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $6,544,172 | TotalAmt |
| Program Services | $6,544,172 | ProgramServicesAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $534,604 | TotalAmt |
| Management And General | $534,604 | ManagementAndGeneralAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $122,506 | TotalAmt |
| Management And General | $122,506 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt |
|---|---|---|
| Department of Education | $3,032,559 | $3,032,559 |
| Student Loan Related Co | $2,346,236 | $2,346,236 |
| Bad Debt Expense | $454,017 | $454,017 |
| Trust Expense | $321,290 | $321,290 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $132,295 | TotalAmt |
| Program Services | $11,697 | ProgramServicesAmt |
| Management And General | $120,598 | ManagementAndGeneralAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $24,743,045 | TotalAmt |
| Program Services | $18,946,843 | ProgramServicesAmt |
| Management And General | $5,796,202 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $10,140 | BOYAmt |
| EOY | $9,212 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $20,278,009 | BOYAmt |
| EOY | $16,957,067 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $96,123 | BOYAmt |
| EOY | $105,373 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $795,370,263 | BOYAmt |
| EOY | $724,452,038 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,176,919 | BOYAmt |
| EOY | $6,031,170 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $12,514,941 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $6,812,742 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,784,815 | BOYAmt |
| EOY | $5,702,199 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $97,166,682 | BOYAmt |
| EOY | $125,699,424 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $41,265,903 | BOYAmt |
| EOY | $37,373,428 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $967,148,854 | BOYAmt |
| EOY | $916,329,911 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,644,746 | BOYAmt |
| EOY | $3,600,010 | EOYAmt |
Tax Exempt Bond Liabilities TaxExemptBondLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $574,556,205 | BOYAmt |
| EOY | $547,262,577 | EOYAmt |
Escrow Account Liability EscrowAccountLiabilityGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $749 | BOYAmt |
| EOY | $789 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $260,717,929 | BOYAmt |
| EOY | $240,257,960 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $838,919,629 | BOYAmt |
| EOY | $791,121,336 | 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 | $0 | BOYAmt |
| EOY | $0 | 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 | $128,229,225 | BOYAmt |
| EOY | $125,208,575 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $128,229,225 | BOYAmt |
| EOY | $125,208,575 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $967,148,854 | BOYAmt |
| EOY | $916,329,911 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | -$1,006,600 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | -$2,014,050 | NetUnrlzdGainsLossesInvstAmt |
| 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 |
Gifts Grants Contris Rcvd509 GiftsGrantsContrisRcvd509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus3 Years | $458,841 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $405,506 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $293,185 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $329,609 | CurrentTaxYearAmt |
| Total | $1,487,141 | TotalAmt |
Gross Receipts Admissions GrossReceiptsAdmissionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $37,492,963 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $38,355,199 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $29,622,877 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $26,258,951 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $23,374,752 | CurrentTaxYearAmt |
| Total | $155,104,742 | TotalAmt |
Total509 Total509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $37,492,963 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $38,814,040 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $30,028,383 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $26,552,136 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $23,704,361 | CurrentTaxYearAmt |
| Total | $156,591,883 | 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) |
|---|---|---|
| Current Tax Year Minus2 Years | $3,904,321 | CurrentTaxYearMinus2YearsAmt |
| Total | $3,904,321 | TotalAmt |
Subst And Dsqlfy Prsns Tot SubstAndDsqlfyPrsnsTotGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus2 Years | $3,904,321 | CurrentTaxYearMinus2YearsAmt |
| Total | $3,904,321 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Support Total509 | $152,687,562 | PublicSupportTotal509Amt |
Gross Investment Income509 GrossInvestmentIncome509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $609,716 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $181,853 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $147,907 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $324,223 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $32,084 | CurrentTaxYearAmt |
| Total | $1,295,783 | TotalAmt |
Investment Income And UBTI InvestmentIncomeAndUBTIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $609,716 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $181,853 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $147,907 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $324,223 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $32,084 | CurrentTaxYearAmt |
| Total | $1,295,783 | TotalAmt |
Total Support Calendar Year TotalSupportCalendarYearGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $38,102,679 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $38,995,893 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $30,176,290 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $26,876,359 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $23,736,445 | CurrentTaxYearAmt |
| Total | $157,887,666 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Support CY509 | 0.96710 | PublicSupportCY509Pct |
| Public Support PY509 | 0.96330 | PublicSupportPY509Pct |
| Investment Income CY | 0.00820 | InvestmentIncomeCYPct |
| Investment Income PY | 0.01540 | InvestmentIncomePYPct |
| Thirty Thr Pct Suprt Tests CY509 | Yes (X) | ThirtyThrPctSuprtTestsCY509Ind |
Schedule C IRS990ScheduleC
| Field | Value | IRS element (for citing) |
|---|---|---|
| Volunteers | 0 | VolunteersInd |
| Paid Staff Or Management | Yes (1) | PaidStaffOrManagementInd |
| Media Advertisements | 0 | MediaAdvertisementsInd |
| Mailings Members | 0 | MailingsMembersInd |
| Publications Or Broadcast | 0 | PublicationsOrBroadcastInd |
| Grants Other Organizations | 0 | GrantsOtherOrganizationsInd |
| Direct Contact Legislators | Yes (1) | DirectContactLegislatorsInd |
| Direct Contact Legislators | $10,351 | DirectContactLegislatorsAmt |
| Rallies Demonstrations | 0 | RalliesDemonstrationsInd |
| Other Activities | 0 | OtherActivitiesInd |
| Total Lobbying Expenditures | $10,351 | TotalLobbyingExpendituresAmt |
| Not Described Section501c3 | 0 | NotDescribedSection501c3Ind |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Part II-B, Line 1: | FormAndLineReferenceDesc |
| Explanation | The New Mexico Educational Assistance Foundation is a member of the Education Finance Council (EFC). EFC is a non-profit trade association that represents state based student loan secondary market organization, including scholarship funding corporations throughout the country. These public purpose organizations are dedicated to the single purpose of making sure students can get the money they need to go to college. The President of New Mexico Educational Assistance Foundation also calls and meets with the New Mexico State legislature to determine the status of loan funding in the state of New Mexico. | ExplanationTxt |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Agent Trustee Etc | 0 | AgentTrusteeEtcInd |
| Incl Escrow Custodial Acct Liab | Yes (1) | InclEscrowCustodialAcctLiabInd |
| Explanation Provided | Yes (X) | ExplanationProvidedInd |
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $1,011,520 | OtherCostOrOtherBasisAmt |
| Book Value | $1,011,520 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $6,346,010 | OtherCostOrOtherBasisAmt |
| Depreciation | $2,199,060 | DepreciationAmt |
| Book Value | $4,146,950 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $1,682,726 | OtherCostOrOtherBasisAmt |
| Depreciation | $1,362,692 | DepreciationAmt |
| Book Value | $320,034 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $3,474,685 | OtherCostOrOtherBasisAmt |
| Depreciation | $3,250,990 | DepreciationAmt |
| Book Value | $223,695 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $5,702,199 | TotalBookValueLandBuildingsAmt |
Invst Program Related Org InvstProgramRelatedOrgGrp (2 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| Fidelity Money Market | $475,188 | F |
| Trustee Loan Program Funds | $125,224,236 | F |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Program Rltd | $125,699,424 | TotalBookValueProgramRltdAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (4 entries)
| DescDesc | AmtAmt |
|---|---|
| Taxable Bonds O/S | $230,468,000 |
| Special Allowance Payable | $3,990,302 |
| Deferred Gain on Refunded Bond | $5,696,717 |
| Other Deferred Gain | $102,941 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $240,257,960 | TotalLiabilityAmt |
| Total Rev Etc Audited Fincl Stmt | $21,722,395 | TotalRevEtcAuditedFinclStmtAmt |
| Revenue Not Reported | $0 | RevenueNotReportedAmt |
| Revenue Subtotal | $21,722,395 | RevenueSubtotalAmt |
| Other Revenues Not Included | $2,014,050 | OtherRevenuesNotIncludedAmt |
| Revenue Not Reported Fincl Stmt | $2,014,050 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $23,736,445 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $24,743,045 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $24,743,045 | ExpensesSubtotalAmt |
| Expenses Not Rpt Fincl Stmt | $0 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $24,743,045 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Part IV, Line 2b: | Deposits in transit are held for other banks and financial institutions as of June 30, 2014. These amounts transferred to the owners in July. |
| Part XI, Line 4b - Other Adjustments: | Decrease in FMV of Derivative Instruments 2,014,050. |
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 | Yes (1) | 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 (4 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, Finance | $157,441 | $0 | $7,763 | $0 | $0 | $0 | $0 | $0 | $11,765 | $0 | $176,969 | $0 | $0 | $0 |
| Michael Nemelka | ||||||||||||||
| Executive Vice President | $175,970 | $0 | $7,200 | $0 | $0 | $0 | $0 | $0 | $16,818 | $0 | $199,988 | $0 | $0 | $0 |
| Elwood Farber | ||||||||||||||
| Former President | $120,829 | $0 | $18,022 | $0 | $0 | $0 | $0 | $0 | $19,539 | $0 | $158,390 | $0 | $0 | $0 |
| Christopher Sanchez | ||||||||||||||
| Former Director Internal Audit | $109,135 | $0 | $11,259 | $0 | $0 | $0 | $0 | $0 | $12,934 | $0 | $133,328 | $0 | $0 | $0 |
Schedule K IRS990ScheduleK
Tax Exempt Bonds Issues TaxExemptBondsIssuesGrp (4 entries)
| Bond ReferenceBondReferenceCd | Bond Issuer EINBondIssuerEIN | CUSIPCUSIPNum | Bond IssuedBondIssuedDt | Issue PriceIssuePriceAmt | PurposePurposeDesc | DefeasedDefeasedInd | On Behalf Of IssuerOnBehalfOfIssuerInd | Pool FinancingPoolFinancingInd |
|---|---|---|---|---|---|---|---|---|
| New Mexico Educational Assistance Foundation | ||||||||
| A | 850291313 | 647110CP8 | 2003-10-09 | $89,590,000 | Education Loan Bonds | 0 | Yes (1) | 0 |
| New Mexico Educational Assistance Foundation | ||||||||
| B | 850291313 | 647110CV5 | 2004-04-21 | $109,750,000 | Education Loan Bonds | 0 | Yes (1) | 0 |
| New Mexico Educational Assistance Foundation | ||||||||
| C | 850291313 | 647110D67 | 2007-08-01 | $113,430,000 | Education Loan Bonds | 0 | Yes (1) | 0 |
| New Mexico Educational Assistance Foundation | ||||||||
| D | 850291313 | 647110DU6 | 2009-09-16 | $292,170,000 | Education Loan Bonds | 0 | Yes (1) | 0 |
Tax Exempt Bonds Proceeds TaxExemptBondsProceedsGrp (4 entries)
| Bond ReferenceBondReferenceCd | RetiredRetiredAmt | Total ProceedsTotalProceedsAmt | In Reserve FundInReserveFundAmt | Issuance Costs From ProceedsIssuanceCostsFromProceedsAmt | Other Spent ProceedsOtherSpentProceedsAmt | Substantial CompletionSubstantialCompletionYr | Current RefundingCurrentRefundingInd | Advance RefundingAdvanceRefundingInd | Final Allocation MadeFinalAllocationMadeInd | Adequate Books And Rec MaintAdequateBooksAndRecMaintInd |
|---|---|---|---|---|---|---|---|---|---|---|
| A | $79,590,000 | $92,765,233 | $579,000 | $632,743 | $91,553,490 | 2005 | Yes (1) | 0 | Yes (1) | Yes (1) |
| B | $98,100,000 | $112,043,642 | $1,097,500 | $652,945 | $110,293,197 | 2005 | Yes (1) | 0 | Yes (1) | Yes (1) |
| C | $74,030,000 | $114,329,058 | $882,556 | $113,446,502 | 2008 | 0 | 0 | Yes (1) | Yes (1) | |
| D | $72,725,000 | $303,925,526 | $2,921,863 | $3,484,705 | $297,518,958 | 2010 | Yes (1) | 0 | Yes (1) | Yes (1) |
Tax Exempt Bonds Private Bus Use TaxExemptBondsPrivateBusUseGrp (4 entries)
| Bond ReferenceBondReferenceCd | Owning Bond Financed PropertyOwningBondFinancedPropertyInd | Any Lease ArrangementsAnyLeaseArrangementsInd | Mgmt Contract Bond Fincd PropMgmtContractBondFincdPropInd | Any Research AgreementsAnyResearchAgreementsInd | Bond Iss Meet Prvt Sec Pymt TestBondIssMeetPrvtSecPymtTestInd | Change In Use Bond Financed PropChangeInUseBondFinancedPropInd | Procs Nonqualified Bond RemdtdProcsNonqualifiedBondRemdtdInd |
|---|---|---|---|---|---|---|---|
| A | 0 | 0 | 0 | 0 | 0 | 0 | Yes (1) |
| B | 0 | 0 | 0 | 0 | 0 | 0 | Yes (1) |
| C | 0 | 0 | 0 | 0 | 0 | 0 | Yes (1) |
| D | 0 | 0 | 0 | 0 | 0 | 0 | Yes (1) |
Tax Exempt Bonds Arbitrage TaxExemptBondsArbitrageGrp (4 entries)
| Bond ReferenceBondReferenceCd | Form8038 T FiledForm8038TFiledInd | Variable Rate IssueVariableRateIssueInd | Hedge Identified In Bks And RecHedgeIdentifiedInBksAndRecInd | Gross Proceeds Invested In GICGrossProceedsInvestedInGICInd | Gross Proceeds InvestedGrossProceedsInvestedInd | Written Proc To Monitor ReqsWrittenProcToMonitorReqsInd | Rebate Not Due YetRebateNotDueYetInd | Exception To RebateExceptionToRebateInd | No Rebate DueNoRebateDueInd | Business Name Line2HedgeProviderName/BusinessNameLine2 | Term Of HedgeTermOfHedgePct | Superintegrated HedgeSuperintegratedHedgeInd | Hedge TerminatedHedgeTerminatedInd |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| (no name) | |||||||||||||
| A | Yes (1) | Yes (1) | 0 | 0 | 0 | Yes (1) | |||||||
| (no name) | |||||||||||||
| B | Yes (1) | Yes (1) | 0 | 0 | 0 | Yes (1) | |||||||
| (no name) | |||||||||||||
| C | 0 | Yes (1) | 0 | 0 | 0 | Yes (1) | 0 | 0 | Yes (1) | ||||
| Royal Bank of | |||||||||||||
| D | 0 | Yes (1) | Yes (1) | 0 | 0 | Yes (1) | 0 | 0 | Yes (1) | Canada | 11.000000000000 | 0 | 0 |
Procedures Corrective Action ProceduresCorrectiveActionGrp (4 entries)
| Bond ReferenceBondReferenceCd | Procedures Corrective ActionProceduresCorrectiveActionInd |
|---|---|
| A | Yes (1) |
| B | Yes (1) |
| C | Yes (1) |
| D | Yes (1) |
Supplemental Information Detail SupplementalInformationDetail (10 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Date Rebate Computation Performed | Issuer Name: New Mexico Educational Assistance Foundation Date the Rebate Computation was Performed: 05/01/2012 Issuer Name: New Mexico Educational Assistance Foundation Date the Rebate Computation was Performed: 05/01/2014 |
| Part II, Line 3 | In all cases - the difference between the original issue price and the net proceeds is the Earnings on Investments and Student Loans net of any arbitrage liability during the proceeds period. |
| Part II, Lines 6 and 7 | The issuer is assuming, for these reporting purposes, that amounts used to purchase qualified student loans are not appropriately reportable on either Line 6 or Line 7 of Part II of Schedule K. |
| Schedule K - Refunding Bonds - A: Used to refund all of: | 2001 A-1 issue date 12/03/2001 |
| Schedule K - Refunding Bonds - B: used to refund all of: | 2002 A-2 issue date 12/09/2002 |
| Schedule K - Refunding Bonds - C: Used to refund all of: | 2003 A-2 issue date 10/09/2003 |
| Schedule K - Refunding Bonds - D: Used to refund all of: | 2004 A-1 issue date 04/21/2004 |
| Schedule K - Refunding Bonds - F: Used to refund all or a portion of: | 1995 A issue date 11/01/1995 1996 A issue date 07/15/1996 1998 issue date 02/24/1998 1999 issue date 05/18/1999 2001 issue date 12/03/2001 2003 issue date 10/09/2003 2005 issue date 10/13/2005 2006 issue date 07/26/2006 |
| Schedule K - Refunding Bonds - G: Used to refund all or a portion of: | 2008 A-1 issue date 06/28/2006 2008 A-2 issue date 06/28/2006 2008 A-3 issue date 06/28/2006 |
| Schedule K - Refunding Bonds - H: Used to refund all or a portion of: | 2008 A-1 issue date 06/28/2006 2008 A-2 issue date 06/28/2006 2008 A-3 issue date 06/28/2006 |
Schedule K IRS990ScheduleK
Tax Exempt Bonds Issues TaxExemptBondsIssuesGrp (2 entries)
| Bond ReferenceBondReferenceCd | Bond Issuer EINBondIssuerEIN | CUSIPCUSIPNum | Bond IssuedBondIssuedDt | Issue PriceIssuePriceAmt | PurposePurposeDesc | DefeasedDefeasedInd | On Behalf Of IssuerOnBehalfOfIssuerInd | Pool FinancingPoolFinancingInd |
|---|---|---|---|---|---|---|---|---|
| New Mexico Educational Assistance Foundation | ||||||||
| A | 850291313 | 647110FB6 | 2010-09-22 | $198,700,000 | Education Loan Bonds | 0 | Yes (1) | 0 |
| New Mexico Educational Assistance Foundation | ||||||||
| B | 850291313 | 647110FD2 | 2010-12-15 | $167,300,000 | Education Loan Bonds | 0 | Yes (1) | 0 |
Tax Exempt Bonds Proceeds TaxExemptBondsProceedsGrp (2 entries)
| Bond ReferenceBondReferenceCd | RetiredRetiredAmt | Total ProceedsTotalProceedsAmt | In Reserve FundInReserveFundAmt | Issuance Costs From ProceedsIssuanceCostsFromProceedsAmt | Other Spent ProceedsOtherSpentProceedsAmt | Substantial CompletionSubstantialCompletionYr | Current RefundingCurrentRefundingInd | Advance RefundingAdvanceRefundingInd | Final Allocation MadeFinalAllocationMadeInd | Adequate Books And Rec MaintAdequateBooksAndRecMaintInd |
|---|---|---|---|---|---|---|---|---|---|---|
| A | $65,300,000 | $198,817,887 | $1,262,800 | $1,385,558 | $196,169,529 | 2010 | Yes (1) | 0 | Yes (1) | Yes (1) |
| B | $52,500,000 | $167,300,136 | $1,000,500 | $1,010,973 | $165,288,663 | 2010 | Yes (1) | 0 | Yes (1) | Yes (1) |
Tax Exempt Bonds Private Bus Use TaxExemptBondsPrivateBusUseGrp (2 entries)
| Bond ReferenceBondReferenceCd | Owning Bond Financed PropertyOwningBondFinancedPropertyInd | Any Lease ArrangementsAnyLeaseArrangementsInd | Mgmt Contract Bond Fincd PropMgmtContractBondFincdPropInd | Any Research AgreementsAnyResearchAgreementsInd | Bond Iss Meet Prvt Sec Pymt TestBondIssMeetPrvtSecPymtTestInd | Change In Use Bond Financed PropChangeInUseBondFinancedPropInd | Procs Nonqualified Bond RemdtdProcsNonqualifiedBondRemdtdInd |
|---|---|---|---|---|---|---|---|
| A | 0 | 0 | 0 | 0 | 0 | 0 | Yes (1) |
| B | 0 | 0 | 0 | 0 | 0 | 0 | Yes (1) |
Tax Exempt Bonds Arbitrage TaxExemptBondsArbitrageGrp (2 entries)
| Bond ReferenceBondReferenceCd | Form8038 T FiledForm8038TFiledInd | Rebate Not Due YetRebateNotDueYetInd | Exception To RebateExceptionToRebateInd | No Rebate DueNoRebateDueInd | Variable Rate IssueVariableRateIssueInd | Hedge Identified In Bks And RecHedgeIdentifiedInBksAndRecInd | Business Name Line2HedgeProviderName/BusinessNameLine2 | Term Of HedgeTermOfHedgePct | Superintegrated HedgeSuperintegratedHedgeInd | Hedge TerminatedHedgeTerminatedInd | Gross Proceeds Invested In GICGrossProceedsInvestedInGICInd | Gross Proceeds InvestedGrossProceedsInvestedInd | Written Proc To Monitor ReqsWrittenProcToMonitorReqsInd |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Royal Bank of | |||||||||||||
| A | 0 | 0 | 0 | Yes (1) | Yes (1) | Yes (1) | Canada | 15.000000000000 | 0 | 0 | 0 | 0 | Yes (1) |
| (no name) | |||||||||||||
| B | 0 | 0 | 0 | Yes (1) | Yes (1) | 0 | 0 | 0 | Yes (1) | ||||
Procedures Corrective Action ProceduresCorrectiveActionGrp (2 entries)
| Bond ReferenceBondReferenceCd | Procedures Corrective ActionProceduresCorrectiveActionInd |
|---|---|
| A | Yes (1) |
| B | Yes (1) |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (8 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Form 990, Part VI, Section A, line 7a | There is one member of the Board that is a regent. |
| Form 990, Part VI, Section B, line 11 | After the independent accountants have prepared the Form 990 it is sent to the Accounting Department of NMEAF 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 then 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 conflicts of interest for a director, officer, employee, or family memebers thereof with regards to a financial interest or business dealings (unless with a division of the State of New Mexico) must be disclosed in writing and discussed at Board meetings. These dealings 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. Surveys are conducted each year to ensure that the President's salary is reasonable. The compensation is enumerated by contract and discussed by the Board in executive session. Deliberations are documented in the minutes and supported 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 are reviewed and approved by the Board. |
| Form 990, Part VI, Section C, line 19 | NMEAF 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 upon request. Governing documents and internal policies are not made available to the public at this time. |
| 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. |
| Form 990, Part IV, Question 24b | Tax Exempt Bonds relating to Student Loans do not have a temporary period. |
| Form 990, Part VII | The compensation reported on this schedule includes deductions for cafeteria plan deductions. The cafeteria plan deductions have been added to Form W-2, Box 5 to properly report compensation. |
Schedule R IRS990ScheduleR
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp
Disregarded Entity Name DisregardedEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | New Mexico Student Loan Guarantee Corporation | 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 | 850291314 | EIN |
| Primary Activities | FFELP Student Loan Guarantor | PrimaryActivitiesTxt |
| Legal Domicile State | NM | LegalDomicileStateCd |
| Exempt Code Section | 501(c)(3) | ExemptCodeSectionTxt |
| Public Charity Status | 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 | Yes (1) | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | 0 | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | Yes (1) | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | 0 | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | 0 | SharingOfFacilitiesInd |
| Paid Employees Sharing | 0 | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | Yes (1) | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | 0 | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |
Transactions Related Org TransactionsRelatedOrgGrp (3 entries)
| Transaction TypeTransactionTypeTxt | InvolvedInvolvedAmt |
|---|---|
| New Mexico Student Loan Guarantee Corporation | |
| J | $105,053 |
| New Mexico Student Loan Guarantee Corporation | |
| L | $404,761 |
| New Mexico Student Loan Guarantee Corporation | |
| Q | $227,413 |
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