2026-02-07T07:47:18+00:00 2025-06-30 440160260 Forvis Mazars LLP 14221 Dallas Parkway Suite 400 Dallas TX 75254 990 2024-07-01 742099402 Brazos Higher Education Authority Inc BRAZ 2547530915 5609 Crosslake Pkwy Waco TX 76712 RICKY TURMAN EVP/CFO 2547530915 2026-02-07 true true Andrew Gray P01517705 9727028262 2026-05-15 2024 2025-03-06 01:10:19Z RICKY TURMAN 5609 Crosslake Pkwy Waco TX 76712 234094078 false X WWW.STUDENTLOANS.COM X 1975 TX BRAZOS HIGHER EDUCATION AUTHORITY, INC.'S MISSION IS TO MAKE EDUCATION A REALITY BY SUPPORTING PROGRAMS AND INITIATIVES TO FINANCE EDUCATIONAL OPPORTUNITIES. 10 10 0 10 0 0 0 49420987 37051905 3346163 6597328 0 0 52767150 43649233 0 0 0 0 0 0 0 0 0 56936680 51537202 56936680 51537202 -4169530 -7887969 697868797 510450178 662108855 482578202 35759942 27871976 BRAZOS HIGHER EDUCATION AUTHORITY, INC.'S MISSION IS TO MAKE EDUCATION A REALITY BY SUPPORTING PROGRAMS AND INITIATIVES TO FINANCE EDUCATIONAL OPPORTUNITIES. false false 51537202 0 38414180 BRAZOS HIGHER EDUCATION AUTHORITY, INC. HELD STUDENT LOANS UNDER THE TITLE IV FEDERAL FAMILY EDUCATION LOAN PROGRAM (FFELP) AND OTHER PRIVATE STUDENT LOAN PROGRAMS. THESE LOANS WERE FUNDED THROUGH PERMANENT FINANCINGS AND COMPANY FUNDS. 51537202 true false false false false false false false false false false false true false false true true false false false false false false false false false false false false true true true false true false false false false false false false false false false false false true false false false false true 4 0 true 0 false false false false false false false false false false false false X 10 10 false true false false false true true true true false false false true true true true true true false false false false X RICKY TURMAN EVPCFO 2547530915 5609 CROSSLAKE PKWY WACO TX 76712 Paul McClinton Vice President 1.0 7.0 X X 0 0 0 Robert D Chambers President 1.0 7.0 X X 0 0 0 Claude Ervin Director 1.0 7.0 X 0 0 0 Dr Andy Popejoy Director 1.0 7.0 X 0 0 0 Harry Harelik 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 Larry Smith Director 1.0 7.0 X 0 0 0 Peter Kultgen Director 1.0 7.0 X 0 0 0 Steven Bostick Director 1.0 7.0 X 0 0 0 Darrell Brooks 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 & CFO 1.0 39.0 X 0 659544 101455 Tammy Harralson Controller/VP 1.0 39.0 X 0 258182 72119 Thomas Litle Executive Director 1.0 39.0 X 0 895987 98152 Tiffany Jones Exec. Corp. Secretary 1.0 39.0 X 0 119395 32504 0 2625723 455543 0 false true false Kutak Rock LLP PO Box 30057 Omaha NE 681031157 Legal 160000 McCall Parkhurst & Horton LLP 717 North Harwood Suite 900 Dallas TX 75201 Legal 131475 2 0 Interest on Student Loan Payments 522294 36935021 36935021 Late Charges 522294 116884 116884 0 0 0 0 37051905 5235053 5235053 0 0 191807120 190444845 0 1362275 1362275 1362275 0 0 0 0 0 43649233 38414180 0 5235053 0 0 1396561 1396561 298475 298475 0 0 0 0 44176546 44176546 Dept of Education Rebate Fees 3206186 3206186 Bad Debt Expense 1152795 1152795 Servicing Expense 959444 959444 Rating Fees Expense 247000 247000 100195 100195 0 0 51537202 51537202 0 0 67719752 79601389 37500 0 0 0 0 62500 27500 0 0 0 0 0 600563330 411394839 29523215 19388950 697868797 510450178 12254232 9345079 68740000 156055000 0 0 581114623 317178123 0 0 662108855 482578202 X 35759942 27871976 35759942 27871976 697868797 510450178 -7887969 3 0 X false true false true true X 0 33939420 31397588 63312360 49420987 37051905 215122260 0 0 0 33939420 31397588 63312360 49420987 37051905 215122260 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 215122260 47340 147608 2284018 3346163 5235053 11060182 0 47340 147608 2284018 3346163 5235053 11060182 0 0 0 0 0 0 0 33986760 31545196 65596378 52767150 42286958 226182442 0.95110 0.97247 0.05 0.03 X Student Loans 411394839 C 411394839 0 X 40443047 -3206186 -3206186 43649233 0 0 43649233 48331016 0 0 48331016 3206186 3206186 51537202 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 THAT 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 EXAMINATIONS FOR THE TAX YEARS ENDED JUNE 30, 2022 AND LATER BY THE INTERNAL REVENUE SERVICE (IRS). 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 POSITIONS RESERVED. Schedule D, Part XI, Line 2(d) Other revenues in audited financial statements not in form 990 Department of Education Rebate Fees - -3206186 Schedule D, Part XII, Line 4(b) Other expenses in form 990 not in audited financial statements Department of Education Rebate Fees - 3206186 false false false false false false false false false Thomas Litle Executive Director 0 754648 0 71182 0 70157 0 80536 0 17616 0 994139 0 0 Ricky Turman EVP & CFO 0 601738 0 57806 0 0 0 81176 0 20279 0 760999 0 0 Kelli Uttech EVP, General Counsel 0 387332 0 38982 0 33671 0 78519 0 5408 0 543912 0 0 Tiffany Jones Exec. Corp. Secretary 0 102452 0 10700 0 6243 0 21341 0 11163 0 151899 0 0 Darrell Brooks Treasurer 0 204026 0 21810 0 6794 0 53686 0 13700 0 300016 0 0 Tammy Harralson Controller/VP 0 229696 0 24191 0 4295 0 59740 0 12379 0 330301 0 0 Schedule J, Part I, Line 3 Arrangement used to establish the top management official's compensation THE EXECUTIVE DIRECTOR IS COMPENSATED BY BRAZOS HIGHER EDUCATION SERVICE CORPORATION, A RELATED ORGANIZATION. THE FOLLOWING METHODS ARE USED TO ESTABLISH THE EXECUTIVE DIRECTOR'S COMPENSATION BY THE RELATED ORGANIZATION: - INDEPENDENT COMPENSATION CONSULTANT - COMPENSATION SURVEY OR STUDY - APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE A Brazos Higher Education Authority Inc 742099402 10623AAW3 2019-10-31 19885910 Acquire Qualifying Student Loans false true false B Brazos Higher Education Authority Inc 742099402 10623ABU6 2020-03-06 33499500 Acquire Qualifying Student Loans false true false C Brazos Higher Education Authority 742099402 10623ACG6 2023-11-07 42895645 Acquire Qualifying Student Loans false true false D Brazos Higher Education Authority Inc 742099402 10623ACM3 2024-08-28 99242684 Acquire Qualifying Student Loans false true false A 12905910 0 19885910 377000 0 0 146938 0 0 0 19361972 0 2020 false false true true B 18134500 0 33499500 611300 0 0 416293 0 0 0 32471907 0 2021 false false true true C 5910645 0 42895645 867500 0 0 338969 0 0 0 41689176 0 2024 false false true true D 2517684 0 99242684 1934500 0 0 432975 0 0 0 57089524 39785685 false false false true A false false false false false false 0.0 0.0 0.0 false false 0 false true B false false false false false false 0.0 0.0 0.0 false false 0 false true C false false false false false false 0.0 0.0 0.0 false false 0 false true D false false false false false false 0.0 0.0 0.0 false false 0 false true A false true false false false false 0 false false false 0 false false true B false true false false false false 0 false false false 0 false true true C false true false false false false 0 false false false 0 false true true D false true false false false false 0 false false false 0 false true true A true B true C true D true Schedule K, Part II, Line 11 Proceeds AMOUNTS SHOWN WERE USED TO ACQUIRE QUALIFYING STUDENT LOANS. Schedule K, Part II, Line 4 Proceeds of Issue THE PROCEEDS OF THE SALE OF THE SERIES 2024-1 BONDS IN THE AMOUNT OF $99,242,684 (EQUAL TO THE PAR AMOUNT OF THE SERIES 2024-1 BONDS PLUS NET ORIGINAL ISSUE PREMIUM OF $2,950,659 AND LESS AN UNDERWRITER'S DISCOUNT OF $432,975). Form 990, Part VI, Line 15 PROCESS FOR DETERMINING COMPENSATION THE COMPENSATION OF THE EXECUTIVE DIRECTOR, OFFICERS, AND KEY EMPLOYEES OF THE BRAZOS HIGHER EDUCATION 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 HIGHER EDUCATION AUTHORITY, INC. (BHEA) HAS A CONTRACT WITH BRAZOS HIGHER EDUCATION SERVICE CORPORATION, INC. TO PERFORM MANAGEMENT AND ADMINISTRATION SERVICES ON BHEA'S BEHALF. THIS INCLUDES PROGRAM ADMINISTRATION FOR THE OUTSTANDING STUDENT LOANS HELD BY BHEA. 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 BHEA. Form 990, Part VI, Line 7a Members or stockholders electing members of governing body The City Council of Waco has the authority to appoint members to the board, and any vacancies will be filled through appointments made by the City Council. Form 990, Part VI, Line 7b Decisions requiring approval by members or stockholders The City Council of Waco has the authority to appoint members to the board, and any vacancies will be filled through appointments made by the City Council. Any qualified private activity bonds issued by the Corporation shall be in accordance with the Code and shall not be issued until approved by the City Council. The Corporation may issue other bonds that are not qualified private activity bonds and are not issued on behalf of the City without the approval of the City Council. 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. BRAZOS HIGHER EDUCATION SERVICE CORP 5609 CROSSLAKE PKWY WACO TX 76712 742129255 STUDENT LOANS TX 501(c)(3) Type II NA false BRAZOS EDUCATION FOUNDATION 5609 CROSSLAKE PKWY WACO TX 76712 264562436 GRANT MAKING TX 501(c)(3) 7 BRAZOS HIGHER EDUCATION SERVICE CORP false BRAZOS EDUCATION LOAN AUTHORITY INC 5609 CROSSLAKE PKWY WACO TX 76712 203868073 STUDENT LOANS TX 501(c)(3) 10 NA false City of Waco Texas PO Box 2570 WACO TX 76702 746002468 Community Improv. TX 501(c)(1) NA false BRAZOS EDUCATION LENDING CORPORATION 5609 CROSSLAKE PKWY WACO TX 76712 203870081 STUDENT LOANS TX 501(c)(3) 10 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 false false false true false false true false false false false true false false false false false false