2013-05-15T13:20:18-05:00 2012-06-30 850450765 Urbielewicz Murphree CPAs PC 4940 Corrales Road Suite 200 Corrales NM 87048 990 2011-07-01 850291313 New Mexico Educational Assistance Foundation NEWM 5057612063 PO Box 27020 Albuquerque NM 871257020 Brad Allpass 5057612063 2013-05-15 1 Tiffani Luna CPA P00852702 5058977382 2011 2016-02-24 21:20:13Z New Mexico Student Loans Elwood Farber PO Box 27020 Albuquerque NM 871257020 55426771 0 X www.nmstudentloans.org X 1981 NM To create educational opportunities for the residents of New Mexico by providing student loans. 5 5 140 0 0 0 458841 405506 35927848 54873540 181853 147725 0 0 36568542 55426771 0 0 0 0 8829029 7488479 0 0 0 25559634 29161623 34388663 36650102 2179879 18776669 1150172587 1052047396 1036747112 901975834 113425475 150071562 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 22116651 54352350 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 6/30/12 was 194,389. 521190 521190 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.) 22637841 1 0 0 1 0 0 0 0 1 0 1 0 1 1 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 0 1 11579 0 1 140 1 0 0 0 0 0 0 0 0 0 0 X 5 5 0 0 0 0 0 1 0 1 1 0 0 0 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 285485 0 28725 Cecilia Evjen 30.00 X 171955 0 18416 Reginald Storment 35.00 X 164624 0 16879 Brad Allpass 35.00 X 156714 0 11898 Paul Padilla 40.00 X 162966 0 19083 Grace Tackman 40.00 X 68618 0 5085 Christopher Sanchez 40.00 X 109449 0 12812 Esther Chavez 40.00 X 109811 0 7964 1229622 0 120862 7 0 1 0 Data Print 5201 Venice Avenue SE Suite E Albuquerque NM 87113 Outside Mail Service 598258 PHEAA PO Box 64849 Baltimore MD 21264 Professional Services 450000 5280 Solutions 8740 Lucent Blvd Suite 400 Highlands Ranch CO 80129 IT System Support 204807 Dellmarketing PO Box 802816 Chicago IL 60680 IT System Support 201940 University Accounting Service 24893 Network Place Chicago IL 60673 Collection Service 158409 8 405506 405506 Student Loan Interest 900099 37174122 37174122 Interest Subsidy and S 900099 14849520 14849520 Late and Legal Fees 900099 1674406 1674406 Service Fees 900099 889778 889778 Other Revenue 900009 287364 287364 -1650 -1650 54873540 147725 147725 55426771 54873540 0 147725 1225889 306472 919417 4843371 1940894 2902477 244510 107813 136697 742697 357148 385549 432012 185838 246174 172294 172294 71690 71690 1027416 158015 869401 36100 857 35243 1089034 869775 219259 7184725 7184725 371440 199665 171775 54610 24085 30525 9396035 9396035 455218 455218 121223 121223 Department of Education 3572203 3572203 Student Loan Related Co 2975666 2975666 Trust Expense 1379754 1379754 Bad Debt Expense 1182463 1182463 71752 -18842 90594 36650102 22637841 14012261 0 532631 8525 15122886 21541964 78400 312660 1008038189 892828811 15932418 13841734 12343170 6333365 12541476 6009805 53547418 59500214 44379169 58003683 1150172587 1052047396 4423155 4102197 182782 938928461 830734833 215 165 93212499 67138639 1036747112 901975834 X 0 0 0 0 113425475 150071562 113425475 150071562 1150172587 1052047396 X 18776669 17869418 X X 0 1 1 X 1 1 X 458841 405506 864347 64172452 48163862 37492963 38355199 29622877 217807353 64172452 48163862 37492963 38814040 30028383 218671700 0 14030004 3904321 17934325 14030004 3904321 17934325 200737375 8189155 1574659 609716 181853 147907 10703290 8189155 1574659 609716 181853 147907 10703290 72361607 49738521 38102679 38995893 30176290 229374990 0.87510 0.81380 0.04670 0.06790 X 0 1 0 0 0 0 1 16353 0 0 16353 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 1011520 1011520 5791650 1778234 4013416 1838584 1554108 284476 3701416 3001023 700393 6009805 Fidelity Money Market 474902 F Trustee Loan Program Funds 59025312 F 59500214 Funds Held for Others 155902 Trust Interest Receivable 523 Interest Receivable (Net) 19929575 Late and Legal Fee Receivable (Net) 3053262 Interest Subsidy and Special Allowance 2412274 FMV of SWAP 32452147 58003683 Excess Earning/Rebate Payable 141081 Taxable Bonds O/S 62000000 SAP 4997558 67138639 55426771 36650102 18776669 17869418 17869418 36646087 47918840 17869418 17869418 30049422 25377349 25377349 55426771 36650102 0 36650102 0 36650102 Part IV, Line 2b: Deposits in transit are held for other banks and financial institutions as of June 30, 2012. These amounts transferred to the owners in July. Part XII, Line 4b - Other Adjustments: Arbitrage Rebate Provision 126,686. Excess Earnings Provision 25,250,663. X X X X 1 0 0 0 0 0 0 0 0 Elwood Farber 285485 0 0 0 0 0 0 0 28725 0 314210 0 0 0 Cecilia Evjen 171955 0 0 0 0 0 0 0 18416 0 190371 0 0 0 Reginald Storment 164624 0 0 0 0 0 0 0 16879 0 181503 0 0 0 Brad Allpass 156714 0 0 0 0 0 0 0 11898 0 168612 0 0 0 Paul Padilla 162966 0 0 0 0 0 0 0 19083 0 182049 0 0 0 Part I, Line 4a Cecilia Evjen, $76,874, Esther Chavez, $29,475, Reginald Storment,$75,280 Paul Padilla, $42,100 New Mexico Educational Assistance Foundation 850291313 647110CP8 2003-10-09 89590000 Education Loan Bonds 0 1 0 New Mexico Educational Assistance Foundation 850291313 647110CV5 2004-04-21 109750000 Education Loan Bonds 0 1 0 New Mexico Educational Assistance Foundation 850291313 647110D67 2007-08-01 113430000 Education Loan Bonds 0 1 0 New Mexico Educational Assistance Foundation 850291313 647110DU6 2009-09-16 292170000 Education Loan Bonds 0 1 0 47290000 92765233 700000 632743 2005 1 0 1 1 37800000 112043642 1097500 652945 2005 1 0 1 1 810000 114329058 882556 2008 0 0 1 1 72725000 303925526 2921863 3484705 2010 1 0 1 1 0 0 0 0 1 0 0 0 0 1 0 0 0 0 1 0 0 0 0 1 1 1 0 1 Trinity Funding 30.000000000000 1 0 0 1 1 0 1 Trinity Funding 30.000000000000 1 0 0 0 1 0 0 0 0 0 1 1 Royal Bank of Canada 11.000000000000 0 0 0 0 0 X 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. New Mexico Educational Assistance Foundation 850291313 647110FB6 2010-09-22 198700000 Education Loan Bonds 0 1 0 New Mexico Educational Assistance Foundation 850291313 647110FD2 2010-12-15 167300000 Education Loan Bonds 0 1 0 30500000 205119199 1261500 1385558 2010 1 0 1 1 20300000 167300836 1617000 1010973 2010 1 0 1 1 0 0 0 0 1 0 0 0 0 1 0 1 1 Royal Bank of Canada 15.000000000000 0 0 0 0 0 0 1 0 0 0 0 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 The 990 is prepared by an outside CPA firm and returned to New Mexico Educational Assistance Foundation (NMEAF) to review. A senior accountant reviews and makes notations for the Controller to evaluate. After all adjustments are completed, the 990 is reviewed by the Vice President of Finance and signed and returned to the CPA firm to be filed on NMEAFs behalf 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 an abbreviated financial statement 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. Changes in Net Assets or Fund Balances: Form 990, Part XI, line 5: Net unrealized gains on investments: 17,869,418. 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 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 1 0 1 0 0 0 0 1 0 0 New Mexico Student Loan Guarantee Corporation I 83377 New Mexico Student Loan Guarantee Corporation K 365308 New Mexico Student Loan Guarantee Corporation P 230787