2015-03-10T18:39:42-05:00 2014-06-30 741130599 PATTILLO BROWN & HILL LLP P O BOX 20725 WACO TX 767020725 990 2013-07-01 742542435 ACAPITA EDUCATION FINANCE CORPORATION ACAP 2547530915 P O BOX 1308 WACO TX 76703 RICKY TURMAN CFO 2547530915 2015-02-12 1 MIKE LUCAS CPA P00581536 2547724901 2013 2016-04-25 22:37:26Z RICKY TURMAN P O BOX 1308 WACO TX 76703 47396014 0 X WWW.BRAZOS.US.COM X 1989 TX ACAPITA EDUCATION FINANCE CORPORATION'S MISSION IS TO MAKE EDUCATION A REALITY BY SUPPORTING PROGRAMS AND INITIATIVES TO FINANCE EDUCATIONAL OPPORTUNITIES. 7 7 0 0 0 0 0 0 52946262 47119623 2991 1391 275000 275000 53224253 47396014 0 0 0 0 0 0 0 0 0 139414477 129425701 139414477 129425701 -86190224 -82029687 2067969273 1853542104 2665945859 2533548377 -597976586 -680006273 ACAPITA EDUCATION FINANACE CORPORATION (AEFC) IS A SECONDARY MARKET OF COLLEGE STUDENT LOANS UNDER THE FEDERAL FAMILY EDUCATION LOAN PROGRAM (FFELP). AEFC'S MISSION IS TO MAKE EDUCATION A REALITY BY SUPPORTING PROGRAMS AND INITIATIVES TO FINANCE EDUCATIONAL OPPORTUNITIES. 0 0 129425701 47394623 AEFC SERVICED OVER 179 THOUSAND LOANS TOTALING OVER $1.8 BILLION. THISINCLUDED OVER $1.6 BILLION UNDER THE TITLE IV FEDERAL FAMILY EDUCATION LOANPROGRAM (FFELP) OF WHICH INCLUDED $1.16 BILLION OF CONSOLIDATION LOANS. THESE LOANS WERE FUNDED THROUGH TEMPORARY FINANCINGS. 129425701 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 484 0 1 0 0 0 0 0 0 0 0 0 X 7 7 1 1 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 X RICKY TURMAN CFO 2547530915 P O BOX 1308 WACO TX 76703 MRS JOYCE PACKARD CHAIRMAN 1.00 10.00 X 0 0 0 PAUL MARABLE JR DIRECTOR 1.00 7.00 X 0 0 0 CALVIN CURTIS JONES DIRECTOR 1.00 1.00 X 0 0 0 SAVID SMITH JR DIRECTOR 1.00 7.00 X 0 0 0 TONY WAYLAND DIRECTOR 1.00 2.00 X 0 0 0 WILTON LANNING DIRECTOR 1.00 8.00 X 0 0 0 LARRY SMITH DIRECTOR 1.00 2.00 X 0 0 0 DR TERRY MANESS DIRECTOR 1.00 4.00 X 0 0 0 DR DENNIS MICHAELIS DIRECTOR 1.00 5.00 X 0 0 0 CALUDE ERVIN DIRECTOR 1.00 5.00 X 0 0 0 MURRAY WATSON PRESIDENT 1.00 49.00 X 0 1307110 40939 RICKY TURMAN EVP/CFO 1.00 49.00 X 0 570079 55391 ELLIS TREDWAY EVP/COO 1.00 49.00 X 0 572862 48331 THOMAS LITTLE SR VICE PRESIDENT 1.00 47.00 X 0 331492 45836 TAMMY HARRALSON CONTROLLER/VP 1.00 49.00 X 0 219448 35550 JANICE WHITE ASST SECRETARY 1.00 49.00 X 0 205335 28416 DANIEL REYNA INTERNAL AUDIT DIRECTOR 1.00 47.00 X 0 153601 26630 JAMES MCINNIS TREASURER 1.00 48.00 X 0 112269 23321 SUSAN DAVIS ASST SECRETARY 1.00 49.00 X 0 103935 21930 RAY RUSHING SECRETARY 1.00 48.00 X 0 0 0 DAVID HORNER FORMER EVP 1.00 47.00 X 0 403072 51287 KELLI VILLARRIAL FORMER VP,ASSOC GEN COUNSEL 1.00 47.00 X 0 287038 40638 0 4266241 418269 0 1 1 0 0 INTEREST RECEIVED ON STUDENT LOAN 522294 46706233 46706233 LATE CHARGES COLLECTED ON LOANS 522294 413390 413390 47119623 1391 1391 ISSUER INCOME 522294 275000 275000 275000 47396014 47394623 0 1391 130295 130295 103006837 103006837 DEPT OF EDUCATION REBAT 12824322 12824322 VALUATION/BAD DEBT EXPE 5940748 5940748 SERVICING EXPENSE 3215385 3215385 COMMITMENT FEES 2612762 2612762 1695352 1695352 129425701 129425701 0 0 116630 1216 22385011 19669519 28698 28501 2023109655 1816252825 22329279 17590043 2067969273 1853542104 561845859 654948377 2104100000 1878600000 2665945859 2533548377 X -597976586 -680006273 0 0 0 0 -597976586 -680006273 2067969273 1853542104 -82029687 0 X X 0 1 X 1 1 1 X 74750828 67053129 60538565 53221262 34570301 290134085 74750828 67053129 60538565 53221262 34570301 290134085 0 0 0 290134085 8361 3576 3048 2991 1391 19367 8361 3576 3048 2991 1391 19367 74759189 67056705 60541613 53224253 34571692 290153452 0.99990 0.99990 0.00010 0.00010 X 0 X 34571692 0 34571692 12824322 12824322 47396014 116601379 0 116601379 12824322 12824322 129425701 PART X, LINE 2: THE COMPANY IS A NOT-FOR-PROFIT PUBLIC BENEFIT CORPORATION WHICH IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(A) OF THE INTERNAL REVENUE CODE AS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3). THE COMPANY IS ALSO EXEMPT FROM STATE INCOME TAX. INCOME WHICH IS NOT RELATED TO ITS EXEMPT PURPOSES, LESS APPLICABLE DEDUCTIONS, IS SUBJECT TO FEDERAL INCOME TAXES. THE COMPANY HAD NO NET UNRELATED BUSINESS INCOME FOR THE YEAR ENDED JUNE 30, 2014. AS SUCH, NO PROVISION FOR FEDERAL OR STATE INCOME TAXES HAS BEEN PROVIDED IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE COMPANY FILES FEDERAL INFORMATION RETURNS IN THE UNITED STATES. THE COMPANY MAY BE SUBJECT TO EXAMINATION FOR THE TAX YEARS ENDING JUNE 30, 2011, AND LATER BY THE INTERNAL REVENUE SERVICE. THE COMPANY IS NOT CURRENTLY UNDER EXAMINATION FOR ANY OPEN TAX YEAR. THE COMPANY FOLLOWS THE ACCOUNTING STANDARD RELATED TO THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN THE COMPANYS FINANCIAL STATEMENTS. THE STANDARD PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. THE COMPANY CURRENTLY DOES NOT HAVE ANY POSITIONS RESERVED. PART XI, LINE 4B - OTHER ADJUSTMENTS: DEPT OF EDUCATION REBATE FEES OFFSET AGAINS REVENUE ON AUDIT 12,824,322. PART XII, LINE 4B - OTHER ADJUSTMENTS: DEPT OF EDUCATION REBATE FEES OFFSET AGAINS REVENUE ON AUDIT 12,824,322. 1 0 0 0 0 0 0 0 0 MURRAY WATSON PRESIDENT 0 609325 0 627504 0 70281 0 33500 0 7439 0 1348049 0 0 RICKY TURMAN EVP/CFO 0 292065 0 223245 0 54769 0 33500 0 21891 0 625470 0 0 ELLIS TREDWAY EVP/COO 0 299569 0 230200 0 43093 0 33500 0 14831 0 621193 0 0 THOMAS LITTLE SR VICE PRESIDENT 0 207396 0 113345 0 10751 0 32287 0 13549 0 377328 0 0 TAMMY HARRALSON CONTROLLER/VP 0 127936 0 73964 0 17548 0 27548 0 8002 0 254998 0 0 JANICE WHITE ASST SECRETARY 0 105627 0 65727 0 33981 0 25446 0 2970 0 233751 0 0 DANIEL REYNA INTERNAL AUDIT DIRECTOR 0 100684 0 51847 0 1070 0 19293 0 7337 0 180231 0 0 DAVID HORNER FORMER EVP 0 95948 0 7425 0 299699 0 33500 0 17787 0 454359 0 0 KELLI VILLARRIAL FORMER VP,ASSOC GEN COUNSEL 0 173648 0 96228 0 17162 0 33500 0 7138 0 327676 0 0 PART I, LINE 4A DAVID HORNER RECEIVED A SEVERANCE PAYMENT FROM THE RELATED ENTITY, BHESC, IN THE AMOUNT OF $287,686.32. FORM 990, PART VI, SECTION A, LINE 2 RAY RUSHING, AN OFFICER OF THE COMPANY, IS AN EMPLOYEE OF A LAW FIRM OWNED BY MURRAY WATSON, JR., ALSO AN OFFICER OF THE COMPANY. FORM 990, PART VI, SECTION A, LINE 3 ACAPITA EDUCATION FINANCE CORPORATION HAS A CONTRACT WITH BRAZOS HIGHER EDUCATION SERVICE CORPORATION TO PERFORM MANAGEMENT AND ADMINSTRATION SERVICES ON AHEA'S BEHALF. THIS INCLUDES MASTER SERVICING ADMINSTRATION FOR THE OUTSTANDING STUDENT LOANS HELD BY ANGELINA HIGHER EDUCATION AUTHORITY. THE SERVICES INCLUDE, BUT ARE NOT LIMITED TO: ACCOUNTING, REPORTING, SERVICING, ORIGINATING, MARKETING, TREASURY, AND COMPLIANCE MONITORING OF THE STUDENT LOANS HELD BY ANGELINA HIGHER EDUCATION AUTHORITY. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS PROVIDED TO SENIOR MANAGEMENT FOR REVIEW. AFTER THIS REVIEW, THE RETURN IS POSTED ON A SECURE WEBSITE FOR REVIEW BY THE BOARD OF DIRECTORS. THE BOARD IS NOTIFIED OF THE POSTING AND ASKED TO PROVIDE COMMENTS OR QUESTIONS. COMMENTS OR QUESTIONS ARE INVESTIGATED AND RESOLVED OR DISCLOSED TO THE BOARD. UPON COMPLETION OF THE PROCESS, THE RETURN IS FILED. FORM 990, PART VI, SECTION B, LINE 12C THE INTERNAL AUDIT DEPARTMENT PREPARES AND DISTRIBUTES A CONFLICT OF INTEREST QUESTIONNAIRE TO ALL BOARD MEMBERS AND EMPLOYEES ANNUALLY. INCLUDED WITH THE QUESTIONNAIRE IS A LISTING OF VENDORS UTILIZED BY THE ORGANIZATION. THE INTERNAL AUDIT DEPARTMENT REVIEWS THE QUESTIONNAIRES AND COMPILES A LIST OF POTENTIAL CONFLICTS FOR REVIEW BY THE AUDIT COMMITTEE, SENIOR MANAGEMENT, AND THE BOARD OF DIRECTORS. POTENTIAL CONFLICTS ARE ASSESSED AND RESOLVED IF DETERMINED TO BE AT RISK. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION OF THE CEO (OR EXECUTIVE DIRECTOR, AS APPLICABLE), OFFICERS, AND KEY EMPLOYEES OF THE ACAPITA EDUCATION FINANCE CORPORATION IS PAID BY A RELATED ORGANIZATION, AND IS DETERMINED UNDER THE POLICIES OF THE RESPECTIVE RELATED ORGANIZATION. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XII, LINE 2C THE OVERSIGHT AND SELECTION PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. ACADEMIC FINANCE CORPORATION P O BOX 1308 WACO TX 76703 742540458 FUND STUDENT LOANS TX 501(C)(3) LINE 11A, I 1 ANGELINA HIGHER EDUCATION AUTHORITY 2600 WASHINGTON AVE WACO TX 76710 200115078 FUND STUDENT LOANS TX 501(C)(3) LINE 9 1 ATLANTIC STUDENT FINANCE CORPORATION 2600 WASHINGTON AVE WACO TX 76710 205412189 FUND STUDENT LOANS FL 501(C)(3) LINE 7 1 BOSQUE HIGHER EDUCATION AUTHORITY INC P O BOX 1308 WACO TX 76703 742534099 FUND STUDENT LOANS TX 501(C)(3) LINE 9 1 BRAZOS EDUCATION FINANCE CORPORATION 2600 WASHINGTON AVE WACO TX 76710 742539632 FUND STUDENT LOANS TX 501(C)(3) LINE 11A, I 1 BRAZOS EDUCATION LOAN AUTHORITY INC 2600 WASHINGTON AVE WACO TX 76710 203868073 FUND STUDENT LOANS TX 501(C)(3) LINE 9 1 BRAZOS HIGHER EDUCATION AUTHORITY INC P O BOX 1308 WACO TX 76703 742099402 FUND STUDENT LOANS TX 501(C)(3) LINE 9 1 BRAZOS HIGHER EDUCATION SERVICE CORPORATION P O BOX 1308 WACO TX 76703 742129255 FUND STUDENT LOANS TX 501(C)(3) LINE 9 1 BRAZOS EDUCATION FOUNDATION INC 2612 WASHINGTON AVE WACO TX 76703 264562436 GRANT MAKING TX 501(C)(3) LINE 7 1 BRAZOS STUDENT FINANCE CORPORATION P O BOX 1308 WACO TX 76703 742356109 FUND STUDENT LOANS TX 501(C)(3) LINE 9 1 CONCHO HIGHER EDUCATION AUTHORITY INC 2600 WASHINGTON AVE WACO TX 76710 203870081 FUND STUDENT LOANS TX 501(C)(3) LINE 9 1 EDINVEST COMPANY 2600 WASHINGTON AVE WACO TX 76710 742537669 FUND STUDENT LOANS TX 501(C)(3) LINE 11A, I 1 EDUCATION SERVICING MANAGEMENT CORPORATION 2600 WASHINGTON AVE WACO TX 76710 203870046 FUND STUDENT LOANS TX 501(C)(3) LINE 9 1 EDUCATIONAL FUNDING SERVICES INC P O BOX 1308 WACO TX 76703 330947525 FUND STUDENT LOANS CA 501(C)(3) LINE 9 1 FEDERATED STUDENT FINANCE CORPORATION 2600 WASHINGTON AVE WACO TX 76710 742536239 FUND STUDENT LOANS TX 501(C)(3) LINE 9 1 FRIO HIGHER EDUCATION AUTHORITY INC 2600 WASHINGTON AVE WACO TX 76710 203870120 FUND STUDENT LOANS TX 501(C)(3) LINE 9 1 LAVACA HIGHER EDUCATION AUTHORITY INC 2600 WASHINGTON AVE WACO TX 76710 203870153 FUND STUDENT LOANS TX 501(C)(3) LINE 9 1 LEON HIGHER EDUCATION AUTHORITY INC 2600 WASHINGTON AVE WACO TX 76710 203870176 FUND STUDENT LOANS TX 501(C)(3) LINE 9 1 LLANO HIGHER EDUCATION AUTHORITY INC 2600 WASHINGTON AVE WACO TX 76710 203870219 FUND STUDENT LOANS TX 501(C)(3) LINE 9 1 PALUXY HIGHER EDUCATION AUTHORITY INC 2600 WASHINGTON AVE WACO TX 76710 203868139 FUND STUDENT LOANS TX 501(C)(3) LINE 9 1 ROZELL HIGHER EDUCATION AUTHORITY INC 2600 WASHINGTON AVE WACO TX 76710 203867891 FUND STUDENT LOANS TX 501(C)(3) LINE 9 1 SABINE HIGHER EDUCATION AUTHORITY INC 2600 WASHINGTON AVE WACO TX 76710 203868185 FUND STUDENT LOANS TX 501(C)(3) LINE 9 1 TEXOMA HIGHER EDUCATION AUTHORITY INC 2600 WASHINGTON AVE WACO TX 76710 203868230 FUND STUDENT LOANS TX 501(C)(3) LINE 9 1 TRINITY HIGHER EDUCATION AUTHORITY INC 2600 WASHINGTON AVE WACO TX 76710 742534486 FUND STUDENT LOANS TX 501(C)(3) LINE 11A, I 1 INTERVIEW STREAM INC 7901 WOODWAY DRIVE SUITE 200 WACO TX 767123898 461208841 JOB INTERVIEW SERVICE TX N/A C 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 BRAZOS HIGHER EDUCATION SERVICE CORPORATION INC M 1165012