2014-05-15T10:20:53-05:00 2013-09-30 850450765 Urbielewicz Murphree CPAs PC 4940 Corrales Road Suite 200 Corrales NM 87048 990 2012-10-01 850291314 New Mexico Student Loan Guarantee Corporation NEWM 5057612040 PO Box 92230 Albuquerque NM 871992230 Brad Allpass 5057612040 2014-05-15 1 Tiffani Luna CPA P00852702 5058977382 2012 2015-11-30 17:44:51Z New Mexico Student Loans Michael Nemelka PO Box 92230 Albuquerque NM 871992230 3999771 0 X www.nmslgc.org X 1981 NM 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. 3 3 10 0 0 0 0 0 2682132 3993835 5705 5936 0 0 2687837 3999771 0 0 0 0 1002167 1011685 0 0 0 2546982 2490849 3549149 3502534 -861312 497237 13524035 14363857 2945759 3288344 10578276 11075513 X 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. 0 0 73448 581258 The Guarantee Corporation receives regulatory fees for participation in the Federal Family Educational Loan Program (FFELP). 2082587 3412577 Student Loan Programs: Under the Federal Family Educational Loan Program (FFELP)-the Guarantee Corporation is required to collect on defaulted loans. 883948 Student Loan Programs: Under the Federal Family Educational Loan Program (FFELP)- the Guarantor pays lender claims on defaulted loans. 3039983 1 0 0 0 0 0 0 0 0 0 0 1 0 0 1 0 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 2 0 10 1 0 0 0 0 0 0 0 0 X 3 3 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NM X X Brad Allpass 5057612063 7400 Tiburon NE Albuquerque NM 87109 X Dion Kidd-Johnson 5.00 X 0 0 0 Elwood Farber 10.00 X X 0 287105 31117 Paul Weaver 5.00 X 0 0 0 Brad Allpass 10.00 X 0 163044 12005 Grace Tackman 10.00 X 0 84970 6816 Michael Nemelka 10.00 X 0 0 0 0 535119 49938 0 0 1 0 New Mexico Educational Assistance Founda 7400 Tiburon NE Albuquerque NM 87109 Building Space, Clerical and Technical 574191 NCOOSI Collection Agency PO Box 935 Brookfield WI 530080935 Collection Services for Defaulted Loans 565120 DCS Collection Agency 333 North Canyon Parkway Livermore CA 94551 Collection Services for Defaulted Loans 544325 AESPHEAA PO Box 64849 Baltimore MD 21264 Program System and Maintenance 368968 Premiere Collection Agency 2002 N Wellesley Blvd Indianapolis IN 46219 Collection Services for Defaulted Loans 183789 5 Retained Collections f 522200 3410649 3410649 Loan Processing and Ac 522200 581258 581258 Default Aversion Servi 522200 1928 1928 3993835 5936 5936 3999771 3993835 0 5936 X 163398 163398 647632 506402 141230 43988 34102 9886 110956 66354 44602 45711 36884 8827 849 849 22403 22403 1731865 1729420 2445 1289 1289 87249 77335 9914 44003 29933 14070 77133 55536 21597 1843 1058 785 14254 14254 Default Loss Provision 502950 502950 Business Recovery Expen 7002 7002 Default Fee Expense 9 9 3502534 3039983 462551 0 11565314 11652032 1958721 1702562 9263 1000000 13524035 14363857 461990 860153 2483769 2428191 2945759 3288344 X 8937222 10161061 1641054 914452 10578276 11075513 13524035 14363857 497237 0 X X 0 1 X 1 1 1 X 5715823 4502278 2286016 2681930 3991907 19177954 5715823 4502278 2286016 2681930 3991907 19177954 0 0 0 19177954 26382 10587 6636 5705 5936 55246 26382 10587 6636 5705 5936 55246 5742205 4512865 2292652 2687635 3997843 19233200 0.99710 0.98060 0.00290 0.01940 X 0 Bank of Oklahoma Long Term CD 1000000 C 1000000 Default Reserves 2428191 2428191 3999771 0 3999771 0 3999771 3502534 0 3502534 0 3502534 X X X X 0 0 0 0 0 0 0 0 0 Elwood Farber 0 287105 0 0 0 0 0 0 0 31117 0 318222 0 0 Brad Allpass 0 159939 0 3105 0 0 0 0 0 12005 0 175049 0 0 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 enumareated 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 enumareated 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. Compensation of Officers 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. 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). Other Fees Form 990, Part IX, line 11g Service Fees: Program service expenses 419,059. Management and general expenses 0. Fundraising expenses 0. Total expenses 419,059. Collection Agency Expense: Program service expenses 1,293,236. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,293,236. Registration, Subscriptions and Dues: Program service expenses 9,357. Management and general expenses 1,110. Fundraising expenses 0. Total expenses 10,467. Outside services: Program service expenses 3,819. Management and general expenses 1,335. Fundraising expenses 0. Total expenses 5,154. Default Prevention Expense: Program service expenses 3,949. Management and general expenses 0. Fundraising expenses 0. Total expenses 3,949. 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. New Mexico Educational Assistance Foundation 7400 Tiburon NE Albuquerque NM 87109 850291313 FFELP Student Loan Lender NM 501(c)(3) Line 9 N/A 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 1 0 0 0 New Mexico Educational Assistance Foundation K 81226 Expenses New Mexico Educational Assistance Foundation M 448362 Expenses New Mexico Educational Assistance Foundation P 114612 Expenses