2013-07-15T14:25:08-05:00 2012-08-31 JOHNSON & SHELDON PC PO BOX 509 AMARILLO TX 791050509 990 2011-09-01 752059556 PANHANDLE-PLAINS STUDENT FINANCE CORPORATION PANH 8063244100 1303 23RD STREET CANYON TX 79015 JIMMY PARKER 8063244100 2013-04-23 true RICHARD W BLANKENSHIP 8063717661 2013-07-15 2011 2016-02-24 21:20:13Z JIMMY PARKER 1303 23RD STREET CANYON TX 79015 5184730 false X WWW.PPSFC.ORG X 1985 TX PROVIDING FUNDS FOR THE PURCHASE OF STUDENT LOANS AT THE POST-SECONDARY LEVEL, AND TO PROVIDE PROCEDURES FOR THE SERVICING OF SUCH LOANS AS REQUIRED FOR CONTINUED PARTICIPATION IN THE FEDERAL FAMILY EDUCATION LOAN PROGRAM UNDER THE HIGHER EDUCATION ACT OF 1965. 7 7 0 0 0 4354325 5097771 6860 6959 80000 4361185 5184730 306685 0 0 0 0 2734076 2900657 2734076 3207342 1627109 1977388 90603374 83224899 74276447 64920584 16326927 18304315 X PROVIDING FUNDS FOR THE PURCHASE OF STUDENT LOANS AT THE POST-SECONDARY LEVEL, AND TO PROVIDE PROCEDURES FOR THE SERVICING OF SUCH LOANS AS REQUIRED FOR CONTINUED PARTICIPATION IN THE FEDERAL FAMILY EDUCATION LOAN PROGRAM UNDER THE HIGHER EDUCATION ACT OF 1965. true false 3121425 306685 3584771 PROVIDING FUNDS FOR THE PURCHASE OF STUDENT LOANS (BOTH FFELP STUDENT LOANS AND ALTERNATIVE STUDENT LOANS) AT THE POST-SECONDARY LEVEL, AND TO PROVIDE PROCEDURES FOR THE SERVICING OF SUCH LOANS AS REQUIRED FOR CONTINUED PARTI- CIPATION IN THE FEDERAL FAMILY EDUCATION LOAN PROGRAM UNDER THE HIGHER EDUCATION ACT OF 1965. 1513000 UNDER ITS CONTRACT WITH MOHELA (AN INDEPENDENT STUDENT LOAN SERVICER AND ALSO AN OFFICIAL U.S. DEPARTMENT OF EDUCATION SERVICING CONTRACTOR) TO SERVE AS AN ELIGIBLE NOT-FOR-PROFIT (NFP) SERVICER PURSUANT TO FEDERAL STUDENT AID'S (FSA) SOLICITATION (NFP-RFP-2010) AND MOHELA'S CONTRACT WITH FSA, AN INITIAL MINIMUM 100,000 STUDENT LOAN ACCOUNTS SERVICING RIGHTS WERE ALLOCATED TO PPSFC, WITH AN ONGOING MINIMUM 100,000 ACCOUNTS FOR UP TO 5 YEARS. PRICING TERMS INCLUDED IN THE CONTRACT INCLUDED SERVICING FEE REVENUE BEGINNING JUNE 2012, PLUS ALSO AN INITIAL ON-SYSTEM CONVERSION FEE OF 1,000,000. 3121425 true false false false false false false false false false false false false false true false true false false false false false false false false false false true false true false false false false false false false false false false false false false true false false false false true 1 0 true 0 false false false false false false false false false false X 7 7 false true false false false false false true true false false true true true true true false true true false X JIMMY PARKER 8063244100 1303 23RD STREET CANYON TX 79015 X X BILL FORBES 2.00 X 0 0 0 ANN DUNCAN 2.00 X X 0 0 0 JAN BENTON 2.00 X X 0 0 0 PAUL K HENDERSON 2.00 X 0 0 0 BEVERLY COTTINGHAM 2.00 X 0 0 0 QUINN ALEXANDER 2.00 X X 0 0 0 RON GAMMAGE 2.00 X 0 0 0 JIMMY PARKER 40.00 X 0 172921 9062 JOHN WRIGHT 40.00 X 0 139208 11868 ZACH BELL 40.00 X 0 105911 10315 418040 31245 false true false PANHANDLE-PLAINS MGT & SERV CORP 1303 23RD STREET CANYON TX 79015 LOAN/MGT/OPER 577256 1 STUDENT LOAN INTEREST - NET 522299 3584771 3584771 MOHELA CONVERSION FEE & SERVI 522299 1513000 1513000 5097771 6959 6959 GAIN ON DISC BOND REDEMPTION 80000 80000 80000 5184730 5177771 6959 306685 306685 65884 32942 32942 27240 13620 13620 11710 5855 5855 1300716 1300716 12434 12434 CONSOLIDATION FEES 549401 549401 LOAN SERVICING FEES 391613 391613 DEFAULT PREVENTION FEES 320571 320571 MAINTENANCE & OPERATING F 124803 124803 96285 62785 33500 3207342 3121425 85917 0 2228395 3129853 916595 1506581 2167382 2017688 82775242 74344970 2376 2376 2313276 2041515 200108 181916 90603374 83224899 100105 124324 74400000 65000000 -223658 -203740 74276447 64920584 X 796869 3132229 15530058 15172086 16326927 18304315 90603374 83224899 1977388 X false true true X true true X 7683359 6767897 5182419 4354325 5097771 29085771 7683359 6767897 5182419 4354325 5097771 29085771 29085771 193171 1208651 7940 6860 6959 1423581 193171 1208651 7940 6860 6959 1423581 772 57 2500 80000 83329 7877302 7976605 5192859 4361185 5184730 30592681 0.95070 0.94400 0.05000 0.06000 X false false false false false false false false false false ACCRUED INTEREST PAYABLE 89960 UNAMORTIZED ORIGINAL ISSUE DISCOUNT -293700 -203740 5184730 3207342 1977388 1977388 5184730 5184730 5184730 3207342 3207342 3207342 false PANHANDLE-PLAINS MGT & SERV CORP 1303 23RD STREET CANYON TX 79015 455543346 PEN 306685 ORG START-UP COSTS X true false X false false false false false false false false false JIMMY PARKER 142921 30000 9062 181983 JOHN WRIGHT 124208 15000 11868 151076 ORGANIZATION'S MISSION FORM 990 - ORGANIZATION'S MISSION PROVIDING FUNDS FOR THE PURCHASE OF STUDENT LOANS AT THE POST-SECONDARY LEVEL, AND TO PROVIDE PROCEDURES FOR THE SERVICING OF SUCH LOANS AS REQUIRED FOR CONTINUED PARTICIPATION IN THE FEDERAL FAMILY EDUCATION LOAN PROGRAM UNDER THE HIGHER EDUCATION ACT OF 1965. ANY SIGNIFICANT NEW PROGRAM SERVICES NOT LISTED ON A PRIOR RETURN FORM 990, PAGE 2, PART III, LINE 2 DURING NOVEMBER 2011, THE CORPORATION CONTRACTED WITH MOHELA (AN INDEPENDENT STUDENT LOAN SERVICER AND ALSO AN OFFICIAL U.S. DEPARTMENT OF EDUCATION SERVICING CONTRACTOR) TO SERVE AS AN ELIGIBLE NOT-FOR-PROFIT (NFP) SERVICER PURSUANT TO FEDERAL STUDENT AID'S (FSA) SOLICITATION (NFP- RFP-2010) AND MOHELA'S CONTRACT WITH FSA, UNDER SECTION 2212 OF THE HEALTH CARE AND EDUCATION RECONCILIATION ACT OF 2010 ("HCERA"). MANAGEMENT DELEGATED FORM 990, PAGE 6, PART VI, LINE 3 PANHANDLE PLAINS STUDENT FINANCE CORPORATION (PPSFC) HAS A CONTRACT WITH PANHANDLE-PLAINS MANAGEMENT & SERVICING CORPORATION (PPMSC) TO PROVIDE FOR SERVICING ADMINISTRATION. PPSFC HAS NO EMPLOYEES. THERE ARE TWO ELEMENTS IN THE FEES PAID -- SERVICING FEES AND ADMINISTRATIVE AND MAINTENANCE FEES (M&O). ORGANIZATION'S PROCESS USED TO REVIEW FORM 990 FORM 990, PAGE 6, PART VI, LINE 11B THE BOARD OF DIRECTORS OF PPSFC IS PROVIDED AN ELECTRONIC COPY OF THE FORM 990 ONE WEEK PRIOR TO FILING. THE DIRECTORS THEN HAVE A WEEK TO REVIEW AND GIVE COMMENTS BEFORE THE RETURN IS FILED WITH THE INTERNAL REVENUE SERVICE. ENFORCEMENT OF CONFLICTS POLICY FORM 990, PAGE 6, PART VI, LINE 12C THE BOARD MEMBERS OF PPSFC ARE REQUIRED TO UPDATE THEIR CONFLICT OF INTEREST STATEMENTS AT THE ANNUAL BOARD OF DIRECTORS MEETING. A RECORD OF THIS IS KEPT IN THE MINUTES OF THE BOARD MEETING. COMPENSATION PROCESS FOR TOP OFFICIAL FORM 990, PAGE 6, PART VI, LINE 15A THE EXECUTIVE DIRECTOR AND OTHER PERSONNEL ARE EMPLOYEES OF PANHANDLE-PLAINS MANAGEMENT & SERVICING CORPORATION (PPMSC). THE SALARIES OF THESE INDIVIDUALS ARE ESTABLISHED BY PPMSC. COMPENSATION PROCESS FOR OFFICERS FORM 990, PAGE 6, PART VI, LINE 15B THE EXECUTIVE DIRECTOR AND OTHER PERSONNEL ARE EMPLOYEES OF PANHANDLE-PLAINS MANAGEMENT & SERVICING CORPORATION (PPMSC). THE SALARIES OF THESE INDIVIDUALS ARE ESTABLISHED BY PPMSC. GOVERNING DOCUMENTS DISCLOSURE EXPLANATION FORM 990, PAGE 6, PART VI, LINE 19 PPSFC'S ANNUAL AUDITED FINANCIAL STATEMENTS ARE AVAILABLE ON ITS WEBSITE. THE GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST. ARTICLES OF INCORPORATION AND PUBLIC DOCUMENTS ARE PUBLIC INFORMATION AND ARE AVAILABLE FROM THE SECRETARY OF STATE. ADDITIONAL INFORMATION FORM 990, PART VII SCHEDULE J, LINE 3 - QUESTIONS REGARDING COMPENSATION THE PPSFC BOARD DOES NOT APPROVE COMPENSATION OF THE EXECUTIVE DIRECTOR, BUT IT DOES APPROVE THE MANAGEMENT CONTRACT WITH PANHANDLE-PLAINS MANAGEMENT & SERVICING CORPORATION WHICH PAYS THE EXECUTIVE DIRECTOR/ CEO'S COMPENSATION. PANHANDLE-PLAINS HIGHER EDUCATION AUTHORITY 1303 23RD STREET CANYON TX 79015 237025386 STUD LOANS TX 501C3 11A NA false PANHANDLE-PLAINS MGT & SERV CORP 1303 23RD STREET CANYON TX 79015 455543346 STUD LOANS TX PENDIN 11A N/A false PANHANDLE-PLAINS MGT & SERV CORP 1303 23RD STREET CANYON TX 79015 752832311 SERV STUD TX NA C CORP false true false false false false false false false false false true true true false false false false PANHANDLE-PLAINS MGT & SERV CORP B 306685 CASH AMOUNT PAID PANHANDLE-PLAINS MGT & SERV CORP L 577256 MGT SERV CONTRACT ADDITIONAL INFORMATION SCHEDULE R SCHEDULE R PART IV PANHANDLEPLAINS MANAGEMENT SERVICING CORPORATION THE PREDECESSOR ORGANIZATION WAS A FORPROFIT ENTITY THAT PERFORMED MANAGEMENT ACTIVITIES FOR AND ACTED AS MASTER SERVICER FOR STUDENT LOANS HELD BY PANHANDLEPLAINS HIGHER EDUCATION AUTHORITY INC PANHANDLEPLAINS STUDENT FINANCE CORPORATION AND OTHER ORGANIZATIONS DURING 2012 THE NEW SUCCESSOR CORPORATION WAS FORMED AS A NOTFORPROFIT CORPORATION ORIGINALLY WITH THE NAME CANYON STUDENT LOAN SERVICING CORPORATION TO ACQUIRE THE ASSETS OF AND CERTAIN LIABILITIES OF THE PREDECESSOR FOLLOWING SUCH ACQUISITION CANYON STUDENT LOAN SERVICING CORPORATION CHANGED ITS NAME TO PANHANDLEPLAINS MANAGEMENT SERVICING CORPORATION PANHANDLEPLAINS HIGHER EDUCATION AUTHORITY INC AND PANHANDLEPLAINS STUDENT FINANCE CORPORATION FELT THAT THEIR CHARITABLE AND EDUCATION PURPOSES WOULD BE BETTER SERVED BY HAVING THEIR MANAGEMENT AND SERVICING HANDLED BY A NOTFORPROFIT ENTITY RATHER THAN THE FORPROFIT PREDECESSOR SPECIFICALLY THEY WANTED EXCESS REVENUES OF THEIR MANAGEMENT AND SERVICING ENTITY TO BE USED FOR CHARITABLE AND EDUCATIONAL PROGRAMS AIMED AT PREVENTING STUDENT LOAN DEFAULTS SUCH AS PROVIDING FINANCIAL LITERACY PROGRAMS TO STUDENTS AND WORKING WITH ATRISK BORROWERS RATHER THAN RETAINED FOR THE BENEFIT OF THE OWNER OF THE PREDECESSOR THE PREDECESSOR PERFORMED MANAGERIAL AND ADMINISTRATIVE SERVICES FOR PANHANDLEPLAINS STUDENT FINANCE CORPORATION AND PANHANDLEPLAINS HIGHER EDUCATION AUTHORITY INC AND ACTED AS MASTER SERVICER FOR THE STUDENT LOANS HELD BY SUCH ENTITIES AND OTHER ORGANIZATIONS