2014-05-05T15:22:06-05:00 2013-06-30 ERNST & YOUNG US LLP 401 CONGRESS AVE SUITE 1800 AUSTIN TX 78701 990 2012-07-01 203868073 Brazos Education Loan Authority Inc f/k/a Neches Higher Education Authority Inc % RICKY TURMAN CFO EVP BRAZ 2547530915 2600 Washington Avenue Suite WACO TX 76710 Ricky Turman 2014-05-02 5124789881 2012 2015-11-30 17:44:51Z RICKY TURMAN 2600 WASHINGTON AVENUE WACO TX 76710 3665116 false X www.brazos.us.com X 2005 TX Brazos Education Loan Authority's mission is to make education a reality by supporting programs and initiatives to finance educational opportunities. 9 9 0 0 0 0 0 0 0 3664814 0 302 0 0 0 3665116 0 0 0 0 0 0 0 0 0 0 2383400 0 2383400 0 1281716 0 97593110 0 99356965 0 -1763855 X Brazos Education Loan Authority (BELA) is a secondary market of college student loans under the Federal Family Education Loan Program (FFELP). Brazos Education Loan Authority's mission is to make education a reality by supporting programs and initiatives to finance educational opportunities. false false 2383400 0 3664814 Brazos Education Loan Authority serviced over 11,000 loans totaling over $102 million under the Title IV Federal Family Education Loan Program (FFELP). These loans were funded through permanent financings. 2383400 true false false false false false false false false false false false false false false true true false false false false false false false false false false false false true false false false false false false false false false false false false false true true true false false true 3 0 true 0 false false false false false false false false false false X 9 9 true true false false false false false true true false false true true true true true true false false false X RICKY TURMAN CFO EVP 2547530915 2600 Washington Avenue Waco TX 76710 Bob Chambers 1.0 8.0 X 0 0 0 Tom Chase 1.0 3.0 X 0 0 0 Claude Ervin 1.0 3.0 X 0 0 0 Peter Kultgen 1.0 3.0 X 0 0 0 Wilton Lanning 1.0 8.0 X 0 0 0 Terry Maness 1.0 4.0 X 0 0 0 Dennis Michaelis 1.0 5.0 X 0 0 0 Clement Milam 1.0 2.0 X 0 0 0 Mrs Joyce Packard 1.0 10.0 X 0 0 0 Murray Watson 1.0 49.0 X 0 1099551 33270 Ricky Turman 1.0 49.0 X 0 451302 45418 Ellis Tredway 1.0 49.0 X 0 309850 38925 Thomas Litle 1.0 47.0 X 0 278512 30756 Tammy Harralson 1.0 49.0 X 0 191285 28505 Daniel Reyna 1.0 47.0 X 0 135617 20396 James McInnis 1.0 48.0 X 0 100445 19370 Susan Davis 1.0 49.0 X 0 71168 16233 Ray Rushing 1.0 48.0 X 0 0 0 0 2637730 232873 0 false true false Mayer Brown LLP 230 South LaSalle Street CHICAGO IL 60604 legal services 110000 1 0 Yield on student loan notes payable 522294 3664814 3664814 3664814 302 302 0 0 0 0 0 0 0 0 0 0 3665116 3664814 302 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1372672 1372672 0 0 0 DEPT OF EDUCATION REBATE FEES 929296 929296 Servicing Expense 235232 235232 Operating expense 227494 227494 AMORT - DEBT ISSUE COST 126840 126840 -508134 -508134 2383400 2383400 0 0 0 0 0 1076959 0 0 0 0 0 0 0 0 0 94594301 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1921850 0 97593110 0 114892 0 0 0 0 0 0 0 0 0 0 0 99242073 0 0 0 0 0 99356965 X 0 -1763855 0 0 0 0 0 -1763855 0 97593110 X 1281716 -3045571 X false true X true true true X 0 0 0 0 0 0 0 0 0 0 3664814 3664814 0 0 0 0 0 0 0 3664814 3664814 0 0 0 3664814 0 0 0 0 302 302 0 0 0 0 0 302 302 0 0 0 0 0 0 3665116 3665116 0.99992 0.00000 0.00008 0.00000 X 0 0 X 3367225 3367225 297891 297891 3665116 2085509 2085509 297891 297891 2383400 Supplemental Information RECONCILIATION OF REVENUE PER AUDITED FINANCIAL STATEMENTS PART XI, LINE 4B DEPT OF EDUCATION REBATE FEES - $929,296 AMORTIZATION OF LOAN PURCHASE FEES - $(631,405) TOTAL - $297,891 RECONCILIATION OF EXPENSES PER AUDITED FINANCIAL STATEMENTS PART XII, LINE 4B DEPT OF EDUCATION REBATE FEES - $929,296 AMORTIZATION OF LOAN PURCHASE FEES - $(631,405) TOTAL - $297,891 FIN 48 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 uncertain tax positions. false false false false false false false false false Murray Watson 0 603194 0 420756 0 75601 0 25000 0 8270 0 1132821 0 0 Ricky Turman 0 294207 0 150684 0 6411 0 25000 0 20418 0 496720 0 0 Ellis Tredway 0 185324 0 101266 0 23260 0 25000 0 13925 0 348775 0 0 Thomas Litle 0 185601 0 67840 0 25071 0 25000 0 5756 0 309268 0 0 Tammy Harralson 0 126382 0 50267 0 14636 0 19341 0 9164 0 219790 0 0 Daniel Reyna 0 92427 0 35082 0 8108 0 13565 0 6831 0 156013 0 0 Supplemental Information FORM 990, PART VI, QUESTION 2 BUSINESS RELATIONSHIPS RAY RUSHING AND MURRAY WATSON JR. HAVE A BUSINESS RELATIONSHIP. FORM 990, PART VI, QUESTION 3 DESCRIPTION OF MANAGEMENT ARRANGEMENT Brazos Education Loan Authority, Inc. has a contract with Brazos Higher Education Service Corporation to perform management and administration services on Brazos Education Loan Authority's behalf. This includes master servicing administration for the outstanding student loans held by Brazos Education Loan Authority. The services include, but are not limited to: accounting, reporting, servicing, originating, marketing, treasury, and compliance monitoring of the student loans held by Brazos Education Loan Authority. FORM 990, PART VI, QUESTION 11B DESCRIBE THE PROCESS USED BY MANAGEMENT &/OR GOVERNING BODY TO REVIEW 990 The 990 tax return is provided to senior management for their review. After their 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 reviewed/answered by senior management. The return is filed upon completion of the process. FORM 990, PART VI, QUESTION 12C DESCRIPTION OF PROCESS TO MONITOR TRANSACTIONS FOR CONFLICTS OF INTEREST Brazos Education Loan Authority's 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 company. 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, QUESTIONS 15A & 15B COMPENSATION DETERMINATION PROCESS THE COMPENSATION OF THE CEO (OR EXECUTIVE DIRECTOR, AS APPLICABLE), OFFICERS, AND KEY EMPLOYEES OF BRAZOS EDUCATION LOAN AUTHORITY, INC. IS PAID BY A RELATED ORGANIZATION, AND IS DETERMINED UNDER THE POLICIES OF THE RESPECTIVE RELATED ORGANIZATION. FORM 990, PART VI, QUESTION 19 AVAIL OF GOV DOCS, CONFLICT OF INTEREST POLICY, & FIN STMTS TO GEN PUBLIC The governing documents, conflict of interest policy, and financial statements are available to the general public upon request. FORM 990, PART XI, Question 9 Other Changes in Net Assets or Fund Balances Transfer to affiliate - $(3,045,571) ADDITIONAL INFORMATION RECENT LEGISLATIVE DEVELOPMENTS ON MARCH 30, 2010, PRESIDENT OBAMA SIGNED INTO LAW THE RECONCILIATION ACT OF 2010. EFFECTIVE JULY 1, 2010, THIS LAW PROHIBITS NEW LOAN ORIGINATIONS UNDER THE FFELP AND REQUIRES THAT ALL NEW FEDERAL LOAN ORIGINATIONS BE MADE THROUGH THE DIRECT LOAN PROGRAM. IN THE EVENT THAT A FIRST DISBURSEMENT HAS BEEN MADE ON A FFELP LOAN PRIOR TO JULY 1, 2010, SUBSEQUENT DISBURSEMENTS OF THAT LOAN MAY STILL BE MADE UNDER THE FFELP. ADDITIONALLY, THE NEW LAW DOES NOT ALTER OR AFFECT THE TERMS AND CONDITIONS OF THE COMPANY'S EXISTING FFELP LOANS. Atlantic Student Finance Corporation 2600 WASHINGTON AVENUE WACO TX 76710 205412189 fund std lns FL 501(c)(3) 7 NA true Brazos Education Finance CorporationInc 2600 WASHINGTON AVENUE WACO TX 76710 742539632 fund std lns TX 501(c)(3) 11 type 1 NA true Brazos Higher Education Authority Inc PO BOX 1308 WACO TX 76703 742099402 fund std lns TX 501(c)(3) 11 type 1 NA true Rozell Higher Education Authority Inc 2600 WASHINGTON AVENUE WACO TX 76710 203867891 fund std lns TX 501(c)(3) 9 NA true Bosque Higher Education Authority Inc PO BOX 1308 WACO TX 76703 742534099 fund std lns TX 501(c)(3) 9 NA true Brazos Student Finance Corporation PO BOX 1308 WACO TX 76703 742356109 fund std lns TX 501(c)(3) 9 NA true EdInvest Company 2600 WASHINGTON AVENUE WACO TX 76710 742537669 fund std lns TX 501(c)(3) 9 NA true Educational Funding Services Inc PO BOX 1308 WACO TX 76703 330947525 fund std lns CA 501(c)(3) 9 NA true Federated Student Finance Corporation 2600 WASHINGTON AVENUE WACO TX 76710 742536239 fund std lns TX 501(c)(3) 9 NA true Brazos Higher Education Service Corp PO BOX 1308 WACO TX 76703 742129255 fund std lns TX 501(C)(3) 9 na true Trinity Higher Education Authority Inc 2600 WASHINGTON AVENUE WACO TX 76710 742534486 fund std lns TX 501(c)(3) 9 NA true Angelina Higher Education Authority 2600 WASHINGTON AVENUE WACO TX 76710 200115078 fund std lns TX 501(c)(3) 9 NA true Acapita Education Finance Corporation PO BOX 1308 WACO TX 76703 742542435 fund std lns TX 501(c)(3) 9 NA true Concho Higher Education Authority Inc 2600 WASHINGTON AVENUE WACO TX 76710 203870081 fund std lns TX 501(c)(3) 9 NA true Frio Higher Education Authority Inc 2600 WASHINGTON AVENUE WACO TX 76710 203870120 fund std lns TX 501(c)(3) 9 NA true Lavaca Higher Education Authority Inc 2600 WASHINGTON AVENUE WACO TX 76710 203870153 fund std lns TX 501(c)(3) 9 NA true Leon Higher Education Authority Inc 2600 WASHINGTON AVENUE WACO TX 76710 203870176 fund std lns TX 501(c)(3) 9 NA true Llano Higher Education Authority Inc 2600 WASHINGTON AVENUE WACO TX 76710 203870219 fund std lns TX 501(c)(3) 9 NA true Paluxy Higher Education Authority Inc 2600 WASHINGTON AVENUE WACO TX 76710 203868139 fund std lns TX 501(c)(3) 9 NA true Sabine Higher Education Authority Inc 2600 WASHINGTON AVENUE WACO TX 76710 203868185 fund std lns TX 501(c)(3) 9 NA true Texoma Higher Education Authority Inc 2600 WASHINGTON AVENUE WACO TX 76710 203868230 fund std lns TX 501(c)(3) 9 NA true Brazos Education Foundation Inc 2612 WASHINGTON AVENUE WACO TX 76710 264562436 grant making TX 501(c)(3) 7 NA true Academic Finance Corporation PO BOX 1308 WACO TX 76703 742540458 fund std lns TX 501(c)(3) 9 NA true Education Servicing Mgmt Corporation 2600 WASHINGTON AVENUE WACO TX 76710 203870046 fund std lns TX 501(c)(3) 9 NA true Interview Stream Inc 7901 Woodway Drive Suite 200 Waco TX 767123898 461208841 job interview svc TX BHESC c corp false false true true false false false false true false false false false true false false false false false false Brazos Student Finance Corporation B 3227831 fmv Brazos Student Finance Corporation C 176354 fmv Brazos Student Finance Corporation H 114405742 fmv Brazos Higher Education Service Corporation M 227494 fmv