2015-03-10T18:44:11-05:00 2014-06-30 741130599 PATTILLO BROWN & HILL LLP P O BOX 20725 WACO TX 767020725 990 2013-07-01 203870176 LEON HIGHER EDUCATION AUTHORITY INC LEON 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 2929229 0 X BRAZOS.US.COM X 2005 TX LEON HIGHER EDUCATION AUTHORITY, INC.'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 3397933 2929067 347 162 0 0 3398280 2929229 0 0 0 0 0 0 0 0 0 2788447 2748719 2788447 2748719 609833 180510 147491378 131801823 148978135 133108070 -1486757 -1306247 LEON HIGHER EDUCATION AUTHORITY, INC. IS A SECONDARY MARKET OF COLLEGE STUDENT LOANS UNDER THE FEDERAL FAMILY EDUCATION LOAN PROGRAM (FFELP). LEON'S MISSION IS TO MAKE EDUCATION A REALITY BY SUPPORTING PROGRAMS AND INITIATIVES TO FINANCE EDUCATIONAL OPPORTUNITIES. 0 0 2748719 2929067 LEON HIGHER EDUCATION AUTHORITY, INC. SERVICED OVER 12,500 LOANS TOTALING OVER $126MILLION. THIS INCLUDED OVER $118 MILLION UNDER THE TITLE IV FEDERAL FAMILY EDUCATION LOAN PROGRAM (FFELP) OF WHICH INCLUDED $51 MILLION OF CONSOLIDATION LOANS. THESE LOANS WERE FUNDED THROUGH TEMPORARY FINANCINGS. 2748719 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 1 0 0 0 1 8 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 BOB CHAMBERS CHAIRMAN 1.00 8.00 X 0 0 0 WILTON LANNING VICE CHAIRMAN 1.00 8.00 X 0 0 0 MRS JANE ALLEN 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 CLEMENT MILAM DIRECTOR 1.00 2.00 X 0 0 0 MRS JOYCE PACKARD DIRECTOR 1.00 10.00 X 0 0 0 LARRY SMITH DIRECTOR 1.00 1.00 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 TAMMY HARRALSON CONTROLLER/VP 1.00 49.00 X 0 219448 35550 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 ASST 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 3575813 317387 0 1 1 0 0 YIELD ON STUDENT LOANS 522294 2912762 2912762 LATE CHARGES 522294 16305 16305 2929067 162 162 2929229 2929067 0 162 1441621 1441621 DEPT OF EDUCATION FEES 569356 569356 VALUATION/BAD DEBT EXPE 356551 356551 SERVICING EXPENSE 197975 197975 OPERATING EXPENSE 137019 137019 46197 46197 2748719 2748719 0 0 1953575 2746335 2931436 142606367 126218687 0 2836801 147491378 131801823 195135 217070 148783000 132891000 148978135 133108070 X -1486757 -1306247 0 0 0 0 -1486757 -1306247 147491378 131801823 180510 0 X X 0 0 1 1 1 X 735691 3397933 2359711 6493335 735691 3397933 2359711 6493335 0 0 0 6493335 95 347 162 604 95 347 162 604 735786 3398280 2359873 6493939 0.99990 0.99990 0.00010 0.00010 X 0 X 2359873 0 2359873 569356 569356 2929229 2179363 0 2179363 569356 569356 2748719 PART X, LINE 2: 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 ED FEES OFFSET AGAINST INCOME ON AUDIT 569,356. PART XII, LINE 4B - OTHER ADJUSTMENTS: DEPT OF ED FEES OFFSET AGAINST INCOME ON AUDIT 569,356. 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 TAMMY HARRALSON CONTROLLER/VP 0 127936 0 73964 0 17548 0 27548 0 8002 0 254998 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 LEON HIGHER EDUCATION AUTHORITY HAS A CONTRACT WITH BRAZOS HIGHER EDUCATION SERVICE CORPORATION TO PERFORM MANAGEMENT AND ADMINSTRATION SERVICES ON LEON'S BEHALF. THIS INCLUDES MASTER SERVICING ADMINSTRATION FOR THE OUTSTANDING STUDENT LOANS HELD BY LEON 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 LEON 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 LEON HIGHER EDUCATION AUTHORITY 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 ACAPITA EDUCATION FINANCE CORPORATION P O BOX 1308 WACO TX 76703 742542435 FUND STUDENT LOANS TX 501(C)(3) LINE 9 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 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 JOBE INTERVIEW SERVICE TX C 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 BRAZOS HIGHER EDUCATION SERVICE CORPORATION M 137019 FMV