2014-05-15T10:25:09-05:00 2013-06-30 850450765 Urbielewicz Murphree CPAs PC 4940 Corrales Road Suite 200 Corrales NM 87048 990 2012-07-01 850291313 New Mexico Educational Assistance Foundation NEWM 5057612063 PO Box 27020 Albuquerque NM 871257020 Brad Allpass 5057612063 2014-05-15 1 Tiffani Luna CPA P00852702 5058977382 2012 2015-11-30 17:44:51Z New Mexico Student Loans Michael Nemelka PO Box 27020 Albuquerque NM 871257020 26876359 0 X www.nmstudentloans.org X 1981 NM To create educational opportunities for the residents of New Mexico by providing student loans. 5 5 141 0 0 0 405506 293185 54873540 26258951 147725 324223 0 0 55426771 26876359 0 0 0 0 7488479 7486723 0 0 0 29161623 23077299 36650102 30564022 18776669 -3687663 1052047396 967148854 901975834 838919629 150071562 128229225 X 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. 0 0 23793917 25747700 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 6/30/13 was 170,579. 511251 511251 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.) 24305168 1 0 0 1 0 0 0 0 1 0 1 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 10864 0 1 141 1 0 0 0 0 0 0 0 0 X 5 5 0 0 0 0 0 1 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 Robert P Matteucci 2.00 X 0 0 0 Eileen Givler 2.00 X 0 0 0 Jerry Walz 2.00 X 0 0 0 Paul Weaver 2.00 X 0 0 0 James B Lewis 2.00 X 0 0 0 Elwood Farber 30.00 X 287105 0 31117 Brad Allpass 30.00 X 163044 0 12005 Grace Tackman 40.00 X 83148 0 8639 Michael Nemelka 40.00 X 0 0 0 Christopher Sanchez 40.00 X 111198 0 15106 644495 0 66867 3 0 1 0 Data Print 5201 Venice Avenue SE Suite E Albuquerque NM 87113 Outside Mail Service 482857 5280 Solutions 8740 Lucent Blvd Suite 400 Highlands Ranch CO 80129 It System Support 171404 Avant 10010 San Pedro Suite 520 San Antonio TX 78216 Arbitrage Services 161525 University Accounting Service 24893 Network Place Chicago IL 60673 Collection Service 141952 Century Link PO Box 29040 Phoenix AZ 85038 Telephone System 120504 6 293185 293185 Student Loan Interest 900099 33726251 33726251 Late and Legal Fees 900099 1468892 1468892 Service Fees 900099 863481 863481 Other Revenue 900009 29704 29704 Interest Subsidy and Special Allo 900099 -9829377 -9829377 26258951 324223 324223 26876359 26258951 0 324223 924765 252257 672508 5109743 2401305 2708438 265583 138390 127193 761662 366790 394872 424970 222766 202204 216179 216179 70085 70085 332311 132722 199589 29872 270 29602 1052697 810209 242488 521323 521323 371684 199218 172466 104434 28332 76102 8027765 8027765 460353 460353 124104 124104 Trust Expense 5507012 5507012 0 Department of Education 3248616 3248616 0 Student Loan Related Co 2272031 2272031 0 Bad Debt Expense 697016 697016 0 41817 469 41348 30564022 24305168 6258854 0 8525 10140 21541964 20278009 312660 96123 892828811 795370263 13841734 7176919 12163107 6378292 6009805 5784815 59500214 97166682 58003683 41265903 1052047396 967148854 4102197 3644746 830734833 761756205 165 749 67138639 73517929 901975834 838919629 X 0 0 0 0 150071562 128229225 150071562 128229225 1052047396 967148854 -3687663 -11720149 -6434525 0 X X 0 1 X 1 1 1 X 458841 405506 293185 1157532 48163862 37492963 38355199 29622877 26258951 179893852 48163862 37492963 38814040 30028383 26552136 181051384 0 3904321 3904321 3904321 3904321 177147063 1574659 609716 181853 147907 324223 2838358 1574659 609716 181853 147907 324223 2838358 49738521 38102679 38995893 30176290 26876359 183889742 0.96330 0.87510 0.01540 0.04670 X 0 1 0 0 0 0 1 15625 0 0 15625 0 Explanation of Lobbying Activities: Part II-B, Line 1: 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. 0 1 X 1011520 1011520 5828734 1981390 3847344 1627478 1305768 321710 3695375 3091134 604241 5784815 Fidelity Money Market 474949 F Trustee Loan Program Funds 96691733 F 97166682 Taxable Bonds O/S 62000000 SAP 4335112 Deferred Gain on Refunded Bond 7182817 73517929 15015129 0 15015129 11861230 11861230 26876359 30564022 0 30564022 0 30564022 Part IV, Line 2b: Deposits in transit are held for other banks and financial institutions as of June 30, 2013. These amounts transferred to the owners in July. Part XI, Line 4b - Other Adjustments: Excess Earnings Provision 141,081. Decrease in FMV of Derivative Instruments 11,720,149. X X X X 0 0 0 0 0 0 0 0 0 Elwood Farber 287105 0 0 0 0 0 0 0 31117 0 318222 0 0 0 Brad Allpass 159939 0 3105 0 0 0 0 0 12005 0 175049 0 0 0 A New Mexico Educational Assistance Foundation 850291313 647110CP8 2003-10-09 89590000 Education Loan Bonds 0 1 0 B New Mexico Educational Assistance Foundation 850291313 647110CV5 2004-04-21 109750000 Education Loan Bonds 0 1 0 C New Mexico Educational Assistance Foundation 850291313 647110D67 2007-08-01 113430000 Education Loan Bonds 0 1 0 D New Mexico Educational Assistance Foundation 850291313 647110DU6 2009-09-16 292170000 Education Loan Bonds 0 1 0 A 79590000 92765233 700000 632743 2005 1 0 1 1 B 98100000 112043642 1097500 652945 2005 1 0 1 1 C 74030000 114329058 882556 2008 0 0 1 1 D 72725000 303925526 2921863 3484705 2010 1 0 1 1 A 0 0 0 0 0 0 1 B 0 0 0 0 0 0 1 C 0 0 0 0 0 0 1 D 0 0 0 0 0 0 1 A 1 1 0 0 0 1 B 1 1 0 0 0 1 C 0 0 0 1 1 0 0 0 1 D 0 0 0 1 1 1 Royal Bank of Canada 11.000000000000 0 0 0 0 1 A 1 B 1 C 1 D 1 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. A New Mexico Educational Assistance Foundation 850291313 647110FB6 2010-09-22 198700000 Education Loan Bonds 0 1 0 B New Mexico Educational Assistance Foundation 850291313 647110FD2 2010-12-15 167300000 Education Loan Bonds 0 1 0 A 53200000 198817887 1261000 1385558 2010 1 0 1 1 B 39700000 167300136 1617000 1010973 2010 1 0 1 1 A 0 0 0 0 0 0 1 B 0 0 0 0 0 0 1 A 0 0 0 1 1 1 Royal Bank of Canada 15.000000000000 0 0 0 0 1 B 0 0 0 1 1 0 0 0 1 A 1 B 1 Form 990, Part VI, Section A, line 7a There are five members of the Board that are regents. 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 is 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 at 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. Temporary Periods 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 K, Part II, Line 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. Refunding Bonds Schedule K Schedule K: A: Used to refund all or a portion of: 1994II issue date 02/01/94 1994III issue date 07/15/94 1995IV issue date 03/01/95 1995A issue date 11/01/95 1996B issue date 09/05/96 1998 issue date 02/24/98 1999 issue date 05/18/99 2000 issue date 10/17/00 Schedule K: B: Used to refund all or a portion of: 1994II issue date 02/01/94 1994III issue date 07/15/94 1995IV issue date 03/01/95 1995A issue date 11/01/95 1996B issue date 09/05/96 1998 issue date 02/24/98 1999 issue date 05/18/99 2000 issue date 10/17/00 2001 issue date 12/03/01 2002 issue date 12/09/02 Schedule K: C: No notes Schedule K: D: Used to refund all or a portion of: 1995A issue date 11/01/95 1996A issue date 07/15/96 1998 issue date 02/24/98 1999 issue date 05/18/99 2001 issue date 12/03/01 2003 issue date 10/09/03 2005 issue date 10/13/05 2006 issue date 07/26/06 Schedule K: E: Used to refund all or a portion of: 2008A1 issue date 6/26/08 2008A2 issue date 6/26/08 2008A3 issue date 6/26/08 Schedule K: F: Used to refund all or a portion of: 2008A1 issue date 6/26/08 2008A2 issue date 6/26/08 2008A3 issue date 6/26/08 Prior Perid Adjustment Form 990, Part XI, Line 8 NMEAF adopted new accounting guidance, GASB Statement No. 65, Items Previously Reported as Assets and Liabilities, which resulted in the restatement of previously reported amounts for the year ended June 30, 2012. New Mexico Student Loan Guarantee Corporation 7400 Tiburon NE Albuquerque NM 87109 850291314 FFELP Student Loan Guarantor NM 501(c)(3) 9 N/A 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 1 0 0 New Mexico Student Loan Guarantee Corporation J 109076 New Mexico Student Loan Guarantee Corporation L 329674 New Mexico Student Loan Guarantee Corporation Q 263771