2026-02-07T07:50:16+00:00 2025-06-30 440160260 Forvis Mazars LLP 14221 Dallas Parkway Suite 400 Dallas TX 75254 990 2024-07-01 203868073 Brazos Education Loan Authority Inc BRAZ 2547530915 5609 Crosslake Pkwy Waco TX 76712 RICKY TURMAN EVP/COO/CFO/Treasurer 2026-02-07 true Andrew Gray P01517705 9727028262 2026-05-15 2024 2025-03-06 01:10:19Z RICKY TURMAN 5609 Crosslake Pkwy Waco TX 76712 68472343 false X WWW.STUDENTLOANS.COM X 2005 TX BRAZOS EDUCATION LOAN AUTHORITY, INC.'S MISSION IS TO MAKE EDUCATION A REALITY BY SUPPORTING PROGRAMS AND INITIATIVES TO FINANCE EDUCATIONAL OPPORTUNITIES. 11 11 0 11 0 0 0 84429369 60478353 2917816 1574889 877225 0 88224410 62053242 0 0 0 0 0 0 0 0 73869660 51195636 73869660 51195636 14354750 10857606 983165176 815478066 749962943 578418227 233202233 237059839 BRAZOS EDUCATION LOAN AUTHORITY, INC.'S MISSION IS TO MAKE EDUCATION A REALITY BY SUPPORTING PROGRAMS AND INITIATIVES TO FINANCE EDUCATIONAL OPPORTUNITIES. false false 51195636 59925538 BRAZOS EDUCATION LOAN AUTHORITY HELD STUDENT LOANS UNDER THE TITLE IV FEDERAL FAMILY EDUCATION LOAN PROGRAM (FFELP) AND OTHER ALTERNATIVE STUDENT LOAN PROGRAMS. THESE LOANS WERE FUNDED THROUGH PERMANENT FINANCINGS AND COMPANY FUNDS. 51195636 true false false false false false false false false false false false true true 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 false true true false false false false true 62 0 true 0 false false false false false false false false false false false false X 11 11 false true false false false false false true true false false false true true true true true true false false false false X RICKY TURMAN EVPCOOCFOTRE 2547530915 5609 CROSSLAKE PKWY WACO TX 76712 Brent Helm Director 1.0 7.0 X 0 0 0 Charles Madden Director 1.0 7.0 X 0 0 0 Charles Reed Director 1.0 7.0 X 0 0 0 CLAUDE ERVIN DIRECTOR 1.0 7.0 X 0 0 0 CLEMENT MILAM DIRECTOR 1.0 7.0 X 0 0 0 Donald Schmeltekopf Director 1.0 7.0 X 0 0 0 Dr David Myers Director 1.0 7.0 X 0 0 0 DR TERRY MANESS DIRECTOR 1.0 7.0 X 0 0 0 Jane Allen Director 1.0 7.0 X 0 0 0 Joe Nesbitt Director 1.0 7.0 X 0 0 0 Justin Wiethorn Director 1.0 7.0 X 0 0 0 DARRELL BROOKS ASSISTANT TREASURER 1.0 39.0 X 0 232630 67386 KELLI UTTECH EVP, GENERAL COUNSEL 1.0 39.0 X 0 459985 83927 RICKY TURMAN EVP/COO/CFO/TREASURER 1.0 39.0 X 0 659544 101455 TAMMY HARRALSON CONTROLLER 1.0 39.0 X 0 258182 72119 THOMAS LITLE PRESIDENT/CEO 1.0 39.0 X 0 895987 98152 TIFFANY JONES SECRETARY 1.0 39.0 X 0 119395 32504 0 2625723 455543 0 false true false 0 0 Interest on Student Loans 522294 60241163 60241163 Late Fees 522294 237190 237190 0 0 0 0 60478353 2127704 2127704 0 0 5866286 6419101 0 -552815 -552815 -552815 0 0 0 0 0 62053242 59925538 0 2127704 5771830 5771830 0 0 0 0 34704368 34704368 843520 843520 DEPT OF EDUCATION REBATE FEE 8566352 8566352 SERVICING EXPENSE 1090550 1090550 TRUSTEE FEE EXPENSE 86074 86074 RATINGS FEES 82540 82540 50402 50402 0 0 51195636 51195636 0 0 2975 0 35484569 14509245 548 0 0 0 0 0 15500 15500 0 0 0 0 0 891815290 753464960 4682322 3838800 51163972 43649561 983165176 815478066 5603370 1216511 0 0 744359573 577201716 0 0 749962943 578418227 X 233202233 237059839 233202233 237059839 983165176 815478066 X 10857606 -7000000 X false true false true true X 0 48366596 53040851 77449858 85306594 60478353 324642252 0 0 0 48366596 53040851 77449858 85306594 60478353 324642252 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 324642252 38303 129039 3540222 2917816 2127704 8753084 0 38303 129039 3540222 2917816 2127704 8753084 0 0 0 0 0 0 0 48404899 53169890 80990080 88224410 62606057 333395336 0.97375 0.97821 0.03 0.02 X Student Loans 753464960 C 753464960 INTEREST RECEIVABLE 43649561 43649561 0 X 53486890 -8566352 -8566352 62053242 0 0 62053242 42629284 0 0 42629284 8566352 8566352 51195636 Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote THE AUTHORITY 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 AUTHORITY 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 AUTHORITY HAD NO NET UNRELATED BUSINESS INCOME FOR THE YEARS ENDED JUNE 30, 2025 AND 2024. AS SUCH, NO PROVISION FOR FEDERAL OR STATE INCOME TAXES HAS BEEN PROVIDED IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE AUTHORITY FILES FEDERAL INFORMATION RETURNS IN THE UNITED STATES. THE AUTHORITY MAY BE SUBJECT TO EXAMINATION FOR THE TAX YEAR ENDED JUNE 30, 2022 AND LATER BY THE INTERNAL REVENUE SERVICE. THE AUTHORITY IS NOT CURRENTLY UNDER EXAMINATION FOR ANY OPEN TAX YEAR. THE AUTHORITY FOLLOWS THE ACCOUNTING STANDARD RELATED TO THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN THE AUTHORITY'S 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 AUTHORITY CURRENTLY DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS. Schedule D, Part XI, Line 2(d) Other revenues in audited financial statements not in form 990 DEPARTMENT OF EDUCATION REBATE FEES - -8566352 Schedule D, Part XII, Line 4(b) Other expenses in form 990 not in audited financial statements DEPARTMENT OF EDUCATION REBATE FEES - 8566352 false false false false false false false false false DARRELL BROOKS ASSISTANT TREASURER 0 204026 0 21810 0 6794 0 53686 0 13700 0 300016 0 0 KELLI UTTECH EVP, GENERAL COUNSEL 0 387332 0 38982 0 33671 0 78519 0 5408 0 543912 0 0 RICKY TURMAN EVP/COO/CFO/TREASURER 0 601738 0 57806 0 0 0 81176 0 20279 0 760999 0 0 TAMMY HARRALSON CONTROLLER 0 229696 0 24191 0 4295 0 59740 0 12379 0 330301 0 0 THOMAS LITLE PRESIDENT/CEO 0 754648 0 71182 0 70157 0 80536 0 17616 0 994139 0 0 TIFFANY JONES SECRETARY 0 102452 0 10700 0 6243 0 21341 0 11163 0 151899 0 0 Schedule J, Part I, Line 3 Arrangement used to establish the top management official's compensation THE PRESIDENT IS COMPENSATED BY BRAZOS HIGHER EDUCATION SERVICE CORPORATION, A RELATED ORGANIZATION. THE FOLLOWING METHODS ARE USED TO ESTABLISH THE PRESIDENT COMPENSATION BY THE RELATED ORGANIZATION: - INDEPENDENT COMPENSATION CONSULTANT - COMPENSATION SURVEY OR STUDY - APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE Form 990, Part VI, Line 15 PROCESS FOR DETERMINING COMPENSATION THE COMPENSATION OF THE CEO (OR EXECUTIVE DIRECTOR, AS APPLICABLE), OFFICERS, AND KEY EMPLOYEES OF THE 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, Line 3 Delegation of management duties BRAZOS EDUCATION LOAN AUTHORITY, INC. (BELA) HAS A CONTRACT WITH BRAZOS HIGHER EDUCATION SERVICE CORPORATION, INC. TO PERFORM MANAGEMENT AND ADMINISTRATION SERVICES ON BELA'S BEHALF. THIS INCLUDES PROGRAM ADMINISTRATION FOR THE OUTSTANDING STUDENT LOANS HELD BY BELA. THE SERVICES INCLUDE, BUT ARE NOT LIMITED TO: ACCOUNTING, REPORTING, ORIGINATING, MARKETING, TREASURY, AND BOND INDENTURE ADMINISTRATION AND COMPLIANCE MONITORING OF THE STUDENT LOANS HELD BY BELA. Form 990, Part VI, Line 11b Review of form 990 by governing body 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, Line 12c Conflict of interest policy THE LEGAL DEPARTMENT PREPARES AND DISTRIBUTES A CONFLICT OF INTEREST QUESTIONNAIRE TO ALL BOARD MEMBERS AND EMPLOYEES ANNUALLY. THE LEGAL DEPARTMENT REVIEWS THE QUESTIONNAIRES AND COMPILES A LIST OF POTENTIAL CONFLICTS FOR REVIEW BY SENIOR MANAGEMENT AND THE BOARD OF DIRECTORS. POTENTIAL CONFLICTS ARE ASSESSED AND RESOLVED IF DETERMINED TO BE AT RISK. IF A BOARD MEMBER CONFLICT IS FOUND TO EXIST, THE CONFLICTED BOARD MEMBER ABSTAINS FROM VOTING. Form 990, Part VI, Line 19 Required documents available to the public THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. Form 990, Part XI, Line 9 Other changes in net assets or fund balances Estate Contributions - -7000000; Total - -7000000; BRAZOS EDUCATION FUNDING 2015-1 LLC 5609 CROSSLAKE PARKWAY WACO TX 76712 371790060 STUDENT LOANS DE 1883216 23630591 BRAZOS EDUCATION LOAN AUTHORITY INC BRAZOS EDUCATION LENDING CORPORATION 5609 CROSSLAKE PKWY WACO TX 76712 203870081 STUDENT LOANS TX 501(c)(3) 10 NA false BRAZOS EDUCATION FOUNDATION INC 5609 CROSSLAKE PKWY WACO TX 76712 264562436 GRANT MAKING TX 501(c)(3) 7 Brazos Higher Education Service Corp false BRAZOS HIGHER EDUCATION AUTHORITY INC 5609 CROSSLAKE PKWY WACO TX 76712 742099402 STUDENT LOANS TX 501(c)(3) 10 CITY OF WACO TX false BRAZOS HIGHER EDUCATION SERVICE CORP 5609 CROSSLAKE PKWY WACO TX 76712 742129255 STUDENT LOANS TX 501(c)(3) Type II NA false BRAZOS ASSET CORPORATION (BAC) 5609 CROSSLAKE PKWY WACO TX 76712 300835799 FINANCE-TRANS INVOLVING CREATION/LIQUIDATION/OWNERSHIP OF FINANCIAL ASSETS TX Brazos Higher Education Service Corp C Corporation false false true false false false false false false false false false false true false false false false false false