NEW MEXICO EDUCATIONAL ASSISTANCE FOUNDATION: Form 990, tax year 2010
View the entire original 990 at ProPublica ↗
- Organization
- NEW MEXICO EDUCATIONAL ASSISTANCE FOUNDATION (EIN 85-0291313)
- Tax period
- 2010-07-01 to 2011-06-30
- Filed
- 2012-05-11
- IRS object ID
- 201201329349303040
- Schema version
- 2010v3.4
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
- Return header
- Form 990
- Schedule A
- Schedule C
- Schedule D
- Schedule J
- Schedule K
- Schedule K
- Schedule O
- Schedule R
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Timestamp | 2012-05-11T16:52:54-05:00 | Timestamp |
| Tax Period End Date | 2011-06-30 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Urbielewicz Murphree CPAs PC | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 4940 Corrales Road Suite 200 | AddressLine1 |
| City | Corrales | City |
| State | NM | State |
| ZIP Code | 87048 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2010-07-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 850291313 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | New Mexico Educational Assistance Foundation | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | NEWM | NameControl |
| Phone | 5057612063 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO Box 27020 | AddressLine1 |
| City | Albuquerque | City |
| State | NM | State |
| ZIP Code | 871257020 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | Brad Allpass | Name |
| Title | Vice President of Finance | Title |
| Phone | 5057612063 | Phone |
| Date Signed | 2012-05-11 | DateSigned |
| Authorize Third Party | 1 | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | Tiffani Luna CPA | Name |
| Phone | 5058977382 | Phone |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2010 | TaxYear |
| Build TS | 2016-02-24 21:20:13Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Principal Officer Person | Elwood Farber | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO Box 27020 | AddressLine1 |
| City | Albuquerque | City |
| State | NM | State |
| ZIP Code | 871257020 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 36568542 | GrossReceipts |
| Group Return For Affiliates | 0 | GroupReturnForAffiliates |
| Organization501c3 | X | Organization501c3 |
| Web Site | www.nmstudentloans.org | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 1981 | YearFormation |
| State Legal Domicile | NM | StateLegalDomicile |
| Activity Or Mission Description | To create educational opportunities for the residents of New Mexico by providing student loans. | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 11 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 11 | NbrIndependentVotingMembers |
| Total Nbr Employees | 166 | TotalNbrEmployees |
| Total Nbr Volunteers | 0 | TotalNbrVolunteers |
| Total Gross UBI | 0 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | 0 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Prior Year | 0 | ContributionsGrantsPriorYear |
| Contributions Grants Current Year | 458841 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 45441561 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 35927848 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 609716 | InvestmentIncomePriorYear |
| Investment Income Current Year | 181853 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 0 | OtherRevenuePriorYear |
| Other Revenue Current Year | 0 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 46051277 | TotalRevenuePriorYear |
| Total Revenue Current Year | 36568542 | TotalRevenueCurrentYear |
| Grants And Similar Amnts Prior Year | 0 | GrantsAndSimilarAmntsPriorYear |
| Grants And Similar Amnts CY | 0 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members Prior Year | 0 | BenefitsPaidToMembersPriorYear |
| Benefits Paid To Members CY | 0 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 9417549 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 8829029 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp Prior Year | 0 | TotalProfFundrsngExpPriorYear |
| Total Prof Fundrsng Exp CY | 0 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 0 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 31406301 | OtherExpensePriorYear |
| Other Expenses Current Year | 25559634 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 40823850 | TotalExpensesPriorYear |
| Total Expenses Current Year | 34388663 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | 5227427 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | 2179879 | RevenuesLessExpensesCY |
| Total Assets BOY | 1565845607 | TotalAssetsBOY |
| Total Assets EOY | 1150172587 | TotalAssetsEOY |
| Total Liabilities BOY | 1461028924 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 1036747112 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 104816683 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 113425475 | NetAssetsOrFundBalancesEOY |
| Info In Schedule O Part III | X | InfoInScheduleOPartIII |
| Mission Description | 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. | MissionDescription |
| Significant New Program Services | 0 | SignificantNewProgramServices |
| Significant Change | 1 | SignificantChange |
| Expense | 25577422 | Expense |
| Revenue | 35199870 | Revenue |
| Description | 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 6/30/11 was 219,248. | Description |
Activity2 Activity2
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | 727978 | Expense |
| Revenue | 727978 | Revenue |
| Description | 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) | Description |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Expense | 26305400 | TotalProgramServiceExpense |
| Described In501 C3 | 1 | DescribedIn501C3 |
| Schedule B Required | 0 | ScheduleBRequired |
| Political Activities | 0 | PoliticalActivities |
| Lobbying Activities | 1 | LobbyingActivities |
| Donor Advised Funds | 0 | DonorAdvisedFunds |
| Conservation Easements | 0 | ConservationEasements |
| Collections Of Art | 0 | CollectionsOfArt |
| Credit Counseling | 1 | CreditCounseling |
| Term Or Permanent Endowments | 0 | TermOrPermanentEndowments |
| Report Land Bldg Equip | 1 | ReportLandBldgEquip |
| Report Invest Oth Securities | 0 | ReportInvestOthSecurities |
| Report Prog Rel Invest | 0 | ReportProgRelInvest |
| Report Other Assets | 0 | ReportOtherAssets |
| Report Other Liabilities | 1 | ReportOtherLiabilities |
| Report Fin48 Footnote | 0 | ReportFin48Footnote |
| Independent Audit Financial Stmt | 1 | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | 0 | ConsolidatedAuditFinancialStmt |
| School | 0 | School |
| Foreign Office | 0 | ForeignOffice |
| Foreign Activities | 0 | ForeignActivities |
| More Than5000 K To Organizations | 0 | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividuals |
| Professional Fundraising | 0 | ProfessionalFundraising |
| Fundraising Activities | 0 | FundraisingActivities |
| Gaming | 0 | Gaming |
| Hospital | 0 | Hospital |
| Grants To Organizations | 0 | GrantsToOrganizations |
| Grants To Individuals | 0 | GrantsToIndividuals |
| Schedule J Required | 1 | ScheduleJRequired |
| Tax Exempt Bonds | 1 | TaxExemptBonds |
| Invest Tax Exempt Bonds | 0 | InvestTaxExemptBonds |
| Escrow Account | 0 | EscrowAccount |
| On Behalf Of Issuer | 1 | OnBehalfOfIssuer |
| Excess Benefit Transaction | 0 | ExcessBenefitTransaction |
| Prior Excess Benefit Transaction | 0 | PriorExcessBenefitTransaction |
| Loan To Officer Or DQP | 0 | LoanToOfficerOrDQP |
| Grant To Related Person | 0 | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | 0 | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | 0 | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | 0 | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | 0 | DeductibleNonCashContributions |
| Deductible Contributions Of Art | 0 | DeductibleContributionsOfArt |
| Terminated | 0 | Terminated |
| Partial Liquidation | 0 | PartialLiquidation |
| Disregarded Entity | 0 | DisregardedEntity |
| Related Entity | 1 | RelatedEntity |
| Related Org Controlled Entity | 0 | RelatedOrgControlledEntity |
| Transaction Related Entity | 0 | TransactionRelatedEntity |
| Transfers To Exempt Non Chrtbl Org | 0 | TransfersToExemptNonChrtblOrg |
| Activities Conducted Partnership | 0 | ActivitiesConductedPartnership |
| Schedule O Required | 1 | ScheduleORequired |
| Number Forms Transmitted With1096 | 11908 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Compliance With Backup Witholding | 1 | ComplianceWithBackupWitholding |
| Number Of Employees | 166 | NumberOfEmployees |
| Employment Tax Returns Filed | 1 | EmploymentTaxReturnsFiled |
| Unrelated Business Income | 0 | UnrelatedBusinessIncome |
| Foreign Financial Account | 0 | ForeignFinancialAccount |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTrans |
| Taxable Party Notification | 0 | TaxablePartyNotification |
| Non Deductible Contributions | 0 | NonDeductibleContributions |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributions |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOf |
| Funds To Pay Premiums | 0 | FundsToPayPremiums |
| Premiums Paid | 0 | PremiumsPaid |
| Form8899 Filed | 0 | Form8899Filed |
| Form1098 C Filed | 0 | Form1098CFiled |
| Indoor Tanning Services | 0 | IndoorTanningServices |
| Info In Schedule O Part VI | X | InfoInScheduleOPartVI |
| Nbr Voting Governing Body Members | 11 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 11 | NumberIndependentVotingMembers |
| Family Or Business Relationship | 0 | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | 0 | DelegationOfManagementDuties |
| Changes To Organizing Docs | 1 | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuse |
| Members Or Stockholders | 0 | MembersOrStockholders |
| Election Of Board Members | 1 | ElectionOfBoardMembers |
| Decisions Subject To Approval | 0 | DecisionsSubjectToApproval |
| Minutes Of Governing Body | 1 | MinutesOfGoverningBody |
| Minutes Of Committees | 1 | MinutesOfCommittees |
| Officer Mailing Address | 0 | OfficerMailingAddress |
| Local Chapters | 0 | LocalChapters |
| Form990 Provided To Governing Body | 0 | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | 1 | ConflictOfInterestPolicy |
| Annual Disclosure Covered Persons | 1 | AnnualDisclosureCoveredPersons |
| Regular Monitoring Enforcement | 1 | RegularMonitoringEnforcement |
| Whistleblower Policy | 1 | WhistleblowerPolicy |
| Document Retention Policy | 1 | DocumentRetentionPolicy |
| Compensation Process CEO | 1 | CompensationProcessCEO |
| Compensation Process Other | 1 | CompensationProcessOther |
| Investment In Joint Venture | 0 | InvestmentInJointVenture |
| States Where Copy Of Return Is Filed | NM | StatesWhereCopyOfReturnIsFiled |
| Other Website | X | OtherWebsite |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Person | Brad Allpass | NamePerson |
| Telephone Number | 5057612063 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 7400 Tiburon NE | AddressLine1 |
| City | Albuquerque | City |
| State | NM | State |
| ZIP Code | 87109 | ZIPCode |
Form990 Part VII Section A Form990PartVIISectionA (21 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Individual Trustee Or DirectorIndividualTrusteeOrDirector | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation | OfficerOfficer | Highest Compensated EmployeeHighestCompensatedEmployee |
|---|---|---|---|---|---|---|---|
| Robert P Matteucci | |||||||
| Secretary/Treasurer | 2.00 | X | 0 | 0 | 0 | ||
| Eileen Givler | |||||||
| Director | 2.00 | X | 0 | 0 | 0 | ||
| Richard N Carpenter | |||||||
| Chairperson | 2.00 | X | 0 | 0 | 0 | ||
| Jerry Walz | |||||||
| Director | 2.00 | X | 0 | 0 | 0 | ||
| Bryan E Valentine | |||||||
| Director | 2.00 | X | 0 | 0 | 0 | ||
| Paul Weaver | |||||||
| Vice Chair | 2.00 | X | 0 | 0 | 0 | ||
| James B Lewis | |||||||
| Director | 2.00 | X | 0 | 0 | 0 | ||
| Randy Harris | |||||||
| Director | 2.00 | X | 0 | 0 | 0 | ||
| Nancy R Long | |||||||
| Director | 2.00 | X | 0 | 0 | 0 | ||
| Chris Anaya | |||||||
| Director | 2.00 | X | 0 | 0 | 0 | ||
| Cate Wisdom | |||||||
| Director | 2.00 | X | 0 | 0 | 0 | ||
| Jacob Wellman | |||||||
| Director | 2.00 | X | 0 | 0 | 0 | ||
| Elwood Farber | |||||||
| President | 30.00 | 278502 | 0 | 26631 | X | ||
| Cecilia Evjen | |||||||
| Vice President | 30.00 | 154416 | 0 | 20884 | X | ||
| Reginald Storment | |||||||
| Vice President | 35.00 | 150543 | 0 | 17740 | X | ||
| Brad Allpass | |||||||
| Vice President | 35.00 | 155760 | 0 | 11800 | X | ||
| Paul Padilla | |||||||
| Vice President | 40.00 | 154360 | 0 | 18159 | X | X | |
| Gavin Gillette | |||||||
| Human Resources | 40.00 | 114688 | 0 | 11560 | X | X | |
| Christopher Sanchez | |||||||
| Director Internal Audit | 40.00 | 107877 | 0 | 10891 | X | ||
| Esther Chavez | |||||||
| Director Customer Service | 40.00 | 109273 | 0 | 7997 | X | ||
| Steve Coffey | |||||||
| Director Information Techn | 40.00 | 98504 | 0 | 17246 | X | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 1225419 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 0 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 125662 | TotalOtherCompensation |
| Number Individuals GT100 K | 8 | NumberIndividualsGT100K |
| Formers Listed | 0 | FormersListed |
| Total Comp GT150 K | 1 | TotalCompGT150K |
| Compensation From Other Sources | 0 | CompensationFromOtherSources |
Contractor Compensation ContractorCompensation (5 entries)
| Address Line1AddressOfContractor/AddressUS/AddressLine1 | CityAddressOfContractor/AddressUS/City | StateAddressOfContractor/AddressUS/State | ZIP CodeAddressOfContractor/AddressUS/ZIPCode | Description Of ServicesDescriptionOfServices | CompensationCompensation |
|---|---|---|---|---|---|
| RBC Capital Markets | |||||
| Church St Station PO Box 559 | New York | NY | 10008 | Fac/Remarketing Fees | 3407994 |
| Bank of America Merill Lynch | |||||
| 250 Vesey St | New York | NY | 10080 | FAC/Remarketing Fees | 809125 |
| Data Print | |||||
| 5201 Venice Avenue SE Suite E | Albuquerque | NM | 87113 | Outside Mail Service | 674634 |
| 5280 Solutions | |||||
| 8740 Lucent Blvd Suite 400 | Highlands Ranch | CO | 80129 | IT System Support | 333638 |
| Valtech Technologies Inc | |||||
| 5080 Spectrum Drive Suite 700 | West Addison | TX | 75001 | Program Software | 267900 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of Contractors GT100 K | 5 | NumberOfContractorsGT100K |
| Government Grants | 458841 | GovernmentGrants |
| Total Contributions | 458841 | TotalContributions |
Program Service Revenue ProgramServiceRevenue (5 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome |
|---|---|---|---|
| Student Loan Interest | 900099 | 41591713 | 41591713 |
| Purchase Fees | 900099 | 4517850 | 4517850 |
| Late and Legal Fees | 900099 | 1630176 | 1630176 |
| Service Fees | 900099 | 1088040 | 1088040 |
| Other Revenue | 900009 | 612747 | 612747 |
Total Oth Program Service Revenue TotalOthProgramServiceRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -13512678 | TotalRevenueColumn |
| Related Or Exempt Function Income | -13512678 | RelatedOrExemptFunctionIncome |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 35927848 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 181853 | TotalRevenueColumn |
| Exclusion | $181,853 | ExclusionAmount |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 36568542 | TotalRevenueColumn |
| Related Or Exempt Function Income | 35927848 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 0 | UnrelatedBusinessRevenue |
| Exclusion | $181,853 | ExclusionAmount |
Comp Current Officers Directors CompCurrentOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1518378 | Total |
| Program Services | 457005 | ProgramServices |
| Management And General | 1061373 | ManagementAndGeneral |
Other Salaries And Wages OtherSalariesAndWages
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 5573298 | Total |
| Program Services | 2145498 | ProgramServices |
| Management And General | 3427800 | ManagementAndGeneral |
Pension Plan Contributions PensionPlanContributions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 280838 | Total |
| Program Services | 114653 | ProgramServices |
| Management And General | 166185 | ManagementAndGeneral |
Other Employee Benefits OtherEmployeeBenefits
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 982034 | Total |
| Program Services | 472302 | ProgramServices |
| Management And General | 509732 | ManagementAndGeneral |
Payroll Taxes PayrollTaxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 474481 | Total |
| Program Services | 206080 | ProgramServices |
| Management And General | 268401 | ManagementAndGeneral |
Fees For Services Legal FeesForServicesLegal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 68162 | Total |
| Management And General | 68162 | ManagementAndGeneral |
Fees For Services Accounting FeesForServicesAccounting
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 137548 | Total |
| Management And General | 137548 | ManagementAndGeneral |
Fees For Services Other FeesForServicesOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 357444 | Total |
| Program Services | 175741 | ProgramServices |
| Management And General | 181703 | ManagementAndGeneral |
Advertising Advertising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 20974 | Total |
| Program Services | 184 | ProgramServices |
| Management And General | 20790 | ManagementAndGeneral |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1256263 | Total |
| Program Services | 1004575 | ProgramServices |
| Management And General | 251688 | ManagementAndGeneral |
Information Technology InformationTechnology
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1119217 | Total |
| Management And General | 1119217 | ManagementAndGeneral |
Occupancy Occupancy
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 356391 | Total |
| Program Services | 196182 | ProgramServices |
| Management And General | 160209 | ManagementAndGeneral |
Travel Travel
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 57723 | Total |
| Program Services | 15376 | ProgramServices |
| Management And General | 42347 | ManagementAndGeneral |
Interest Interest
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 11122818 | Total |
| Program Services | 11122818 | ProgramServices |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 443197 | Total |
| Management And General | 443197 | ManagementAndGeneral |
Insurance Insurance
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 141922 | Total |
| Management And General | 141922 | ManagementAndGeneral |
Other Expenses OtherExpenses (5 entries)
| DescriptionDescription | TotalTotal | Program ServicesProgramServices | Management And GeneralManagementAndGeneral |
|---|---|---|---|
| Student Loan Related Co | 3809739 | 3809739 | |
| Trust Expense | 3742968 | 3742968 | |
| Department of Education | 1614786 | 1614786 | |
| Bad Debt Expense | 1174705 | 1174705 | |
| Training | 27281 | 74 | 27207 |
All Other Expenses AllOtherExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 108496 | Total |
| Program Services | 52714 | ProgramServices |
| Management And General | 55782 | ManagementAndGeneral |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 34388663 | Total |
| Program Services | 26305400 | ProgramServices |
| Management And General | 8083263 | ManagementAndGeneral |
| Fundraising | 0 | Fundraising |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 715582 | BOY |
| EOY | 532631 | EOY |
Savings And Temp Cash Investments SavingsAndTempCashInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 4047011 | BOY |
| EOY | 15122886 | EOY |
Accounts Receivable AccountsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 58393 | BOY |
| EOY | 78400 | EOY |
Other Notes Loans Receivable Net OtherNotesLoansReceivableNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1329577330 | BOY |
| EOY | 1008038189 | EOY |
Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 8031900 | BOY |
| EOY | 15932418 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Buildings Equipment Basis | 18419623 | LandBuildingsEquipmentBasis |
| Land Bldg Equipment Accum Deprec | 5878147 | LandBldgEquipmentAccumDeprec |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 13216904 | BOY |
| EOY | 12541476 | EOY |
Investments Program Related InvestmentsProgramRelated
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 164242650 | BOY |
| EOY | 53547418 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 45955837 | BOY |
| EOY | 44379169 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1565845607 | BOY |
| EOY | 1150172587 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 6894505 | BOY |
| EOY | 4423155 | EOY |
Deferred Revenue DeferredRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | 182782 | EOY |
Tax Exempt Bond Liabilities TaxExemptBondLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1113913408 | BOY |
| EOY | 938928461 | EOY |
Escrow Account Liability EscrowAccountLiability
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 13731 | BOY |
| EOY | 215 | EOY |
Mort Notes Pybl Secured Invest Prop MortNotesPyblSecuredInvestProp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 216994742 | BOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 123212538 | BOY |
| EOY | 93212499 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1461028924 | BOY |
| EOY | 1036747112 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Do Not Follow SFAS117 | X | DoNotFollowSFAS117 |
Cap Stck Trst Prin Current Funds CapStckTrstPrinCurrentFunds
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Paid In Cap Srpls Land Bldg Eqp Fund PaidInCapSrplsLandBldgEqpFund
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Retained Earnings Endowment Etc RetainedEarningsEndowmentEtc
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 104816683 | BOY |
| EOY | 113425475 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 104816683 | BOY |
| EOY | 113425475 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1565845607 | BOY |
| EOY | 1150172587 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | X | InfoInScheduleOPartXI |
| Reconcilation Revenue Expenses | 2179879 | ReconcilationRevenueExpenses |
| Reconcilation Other Changes | 6428913 | ReconcilationOtherChanges |
| Info In Schedule O Part XII | X | InfoInScheduleOPartXII |
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | 0 | AccountantCompileOrReview |
| FS Audited | 1 | FSAudited |
| Audit Committee | 1 | AuditCommittee |
| Financial Statement Separate | X | FinancialStatementSeparate |
| Federal Grant Audit Required | 1 | FederalGrantAuditRequired |
| Federal Grant Audit Performed | 1 | FederalGrantAuditPerformed |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Publicly Supported Org509a2 | X | PubliclySupportedOrg509a2 |
Gifts Grants Contrib Received509 GiftsGrantsContribReceived509
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year | 458841 | CurrentTaxYear |
| Total | 458841 | Total |
Gross Receipts From Admissions GrossReceiptsFromAdmissions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 64931182 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 64172452 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 48163862 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 37492963 | CurrentTaxYearMinus1Year |
| Current Tax Year | 38355199 | CurrentTaxYear |
| Total | 253115658 | Total |
Total509 Total509
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 64931182 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 64172452 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 48163862 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 37492963 | CurrentTaxYearMinus1Year |
| Current Tax Year | 38814040 | CurrentTaxYear |
| Total | 253574499 | Total |
Amts Recd From Disqual Persons AmtsRecdFromDisqualPersons
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Amts From Subst Contributors AmtsFromSubstContributors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 18166663 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 14030004 | CurrentTaxYearMinus3Years |
| Total | 32196667 | Total |
Support From DQ Ps Etc SupportFromDQPsEtc
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 18166663 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 14030004 | CurrentTaxYearMinus3Years |
| Total | 32196667 | Total |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Support Total509 | 221377832 | PublicSupportTotal509 |
Gross Investment Income509 GrossInvestmentIncome509
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 7905595 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 8189155 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 1574659 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 609716 | CurrentTaxYearMinus1Year |
| Current Tax Year | 181853 | CurrentTaxYear |
| Total | 18460978 | Total |
Investment Income And UBTI InvestmentIncomeAndUBTI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 7905595 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 8189155 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 1574659 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 609716 | CurrentTaxYearMinus1Year |
| Current Tax Year | 181853 | CurrentTaxYear |
| Total | 18460978 | Total |
Total Support Total TotalSupportTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 72836777 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 72361607 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 49738521 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 38102679 | CurrentTaxYearMinus1Year |
| Current Tax Year | 38995893 | CurrentTaxYear |
| Total | 272035477 | Total |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Support Percentage509 | 0.81380 | PublicSupportPercentage509 |
| Prior Year Support Percentage | 0.75560 | PriorYearSupportPercentage |
| Investment Income Percentage | 0.06790 | InvestmentIncomePercentage |
| Prior Yr Invest Income Percentage | 0.08360 | PriorYrInvestIncomePercentage |
| Thirty Three Percnt Tests CY509 | X | ThirtyThreePercntTestsCY509 |
Schedule C IRS990ScheduleC
| Field | Value | IRS element (for citing) |
|---|---|---|
| Volunteers | 0 | Volunteers |
| Paid Staff Or Management | 1 | PaidStaffOrManagement |
| Media Advertisements | 0 | MediaAdvertisements |
| Mailings Members | 0 | MailingsMembers |
| Publications Or Broadcast | 0 | PublicationsOrBroadcast |
| Grants Other Organizations | 0 | GrantsOtherOrganizations |
| Direct Contact Legislators | 1 | DirectContactLegislators |
| Direct Contact Legislators | $15,748 | DirectContactLegislatorsAmount |
| Rallies Demonstrations | 0 | RalliesDemonstrations |
| Other Activities | 0 | OtherActivities |
| Total Lobbying Expenditures IIB | 15748 | TotalLobbyingExpendituresIIB |
| Not Described In501c3 | 0 | NotDescribedIn501c3 |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Agent Trustee Etc | 0 | AgentTrusteeEtc |
| Included On FS | 1 | IncludedOnFS |
Land Land
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 1011520 | OtherCostOrOtherBasis |
| Book Value | 1011520 | BookValue |
Buildings Buildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 5766660 | OtherCostOrOtherBasis |
| Depreciation | 1572332 | Depreciation |
| Book Value | 4194328 | BookValue |
Equipment Equipment
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 1590558 | OtherCostOrOtherBasis |
| Depreciation | 1431370 | Depreciation |
| Book Value | 159188 | BookValue |
Other Land Buildings OtherLandBuildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 10050885 | OtherCostOrOtherBasis |
| Depreciation | 2874445 | Depreciation |
| Book Value | 7176440 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 12541476 | TotalOfBookValueLandBuildings |
Other Liabilities OtherLiabilities (3 entries)
| DescriptionDescription | AmountAmount |
|---|---|
| Excess Earning/Rebate Payable | $25,518,430 |
| Taxable Bonds O/S | $62,000,000 |
| SAP | $5,694,069 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Amounts | 93212499 | TotalOfAmounts |
| Total Revenue | 36568542 | TotalRevenue |
| Total Expenses | 34388663 | TotalExpenses |
| Excess Or Deficit For Year | 2179879 | ExcessOrDeficitForYear |
| Net Unrealized GL On Investments | 6428913 | NetUnrealizedGLOnInvestments |
| Total Adjustments | 6428913 | TotalAdjustments |
| Excess Or Deficit Per FS | 8608792 | ExcessOrDeficitPerFS |
| Tot Revenue Etc Audited Fincl Stmt | 45342553 | TotRevenueEtcAuditedFinclStmt |
| Net Unrealized Gains Investments | 6428913 | NetUnrealizedGainsInvestments |
| Revenue Not Rptd F990 | 6428913 | RevenueNotRptdF990 |
| Revenue Subtotal | 38913640 | RevenueSubtotal |
| Other Revenues Not Included | -2345098 | OtherRevenuesNotIncluded |
| Revenue Not Rptd On Fin Stmt | -2345098 | RevenueNotRptdOnFinStmt |
| Total Revenue Per Form990 | 36568542 | TotalRevenuePerForm990 |
| Tot Expenses Etc Audited Fincl Stmt | 34388663 | TotExpensesEtcAuditedFinclStmt |
| Expenses Not Rptd F990 | 0 | ExpensesNotRptdF990 |
| Expenses Subtotal | 34388663 | ExpensesSubtotal |
| Expenses Not Rptd On Fin Stmt | 0 | ExpensesNotRptdOnFinStmt |
| Total Expenses Per Form990 | 34388663 | TotalExpensesPerForm990 |
Form990 Schedule D Part XIV Form990ScheduleDPartXIV (2 entries)
| Return ReferenceReturnReference | ExplanationExplanation | IdentifierIdentifier |
|---|---|---|
| Part IV, Line 2b: | Part IV, line 2b: Deposits in transit are held for other banks and financial institutions as of June 30, 2011. These amounts transferred to the owners in July. | |
| Arbitrage Rebate Provision 82,253. Excess Earnings Provision -2,427,351. | Part XII, Line 4b - Other Adjustments: |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Compensation Committee | X | CompensationCommittee |
| Written Employment Contract | X | WrittenEmploymentContract |
| Compensation Survey | X | CompensationSurvey |
| Board Or Committee Approval | X | BoardOrCommitteeApproval |
| Severance Payment | 0 | SeverancePayment |
| Supplemental Nonqual Retire Plan | 0 | SupplementalNonqualRetirePlan |
| Equity Based Comp Arrangement | 0 | EquityBasedCompArrangement |
| Comp Based On Revenue Of Filing Org | 0 | CompBasedOnRevenueOfFilingOrg |
| Comp Based On Revenue Related Orgs | 0 | CompBasedOnRevenueRelatedOrgs |
| Comp Based Net Earnings Filing Org | 0 | CompBasedNetEarningsFilingOrg |
| Comp Based Net Earnings Relate Orgs | 0 | CompBasedNetEarningsRelateOrgs |
| Any Non Fixed Payments | 0 | AnyNonFixedPayments |
| Initial Contract Exception | 0 | InitialContractException |
Form990 Schedule J Part II Form990ScheduleJPartII (5 entries)
| Base Compensation Filing OrgBaseCompensationFilingOrg | Comp Based On Related OrgsCompBasedOnRelatedOrgs | Bonus Filing OrgBonusFilingOrg | Bonus Related OrgsBonusRelatedOrgs | Other Compensation Filing OrgOtherCompensationFilingOrg | Other Compensation Related OrgsOtherCompensationRelatedOrgs | Deferred Comp Filing OrgDeferredCompFilingOrg | Deferred Comp Related OrgsDeferredCompRelatedOrgs | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrg | Nontaxable Benefits Related OrgsNontaxableBenefitsRelatedOrgs | Total Compensation Filing OrgTotalCompensationFilingOrg | Total Compensation Related OrgsTotalCompensationRelatedOrgs | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrg | Comp Report Prior990 Related OrgsCompReportPrior990RelatedOrgs |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Elwood Farber | |||||||||||||
| 278502 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 26631 | 0 | 305133 | 0 | 318042 | 0 |
| Cecilia Evjen | |||||||||||||
| 154416 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 20884 | 0 | 175300 | 0 | 190327 | 0 |
| Reginald Storment | |||||||||||||
| 150543 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 17740 | 0 | 168283 | 0 | 180213 | 0 |
| Brad Allpass | |||||||||||||
| 155760 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 11800 | 0 | 167560 | 0 | 185114 | 0 |
| Paul Padilla | |||||||||||||
| 154360 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 18159 | 0 | 172519 | 0 | 184447 | 0 |
Schedule K IRS990ScheduleK
Form990 Schedule K Part I Form990ScheduleKPartI (4 entries)
| Issuer EINIssuerEIN | CUSIP NumberCUSIPNumber | Date IssuedDateIssued | Issue PriceIssuePrice | Description Of PurposeDescriptionOfPurpose | DefeasedDefeased | On Behalf Of IssuerOnBehalfOfIssuer | Pool FinancingPoolFinancing |
|---|---|---|---|---|---|---|---|
| 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 |
Form990 Schedule K Part II Form990ScheduleKPartII (4 entries)
| Amount RetiredAmountRetired | Total ProceedsTotalProceeds | Amount In Reserve FundAmountInReserveFund | Issuance Costs From ProceedsIssuanceCostsFromProceeds | Year Of Subst CompletionYearOfSubstCompletion | Current RefundingCurrentRefunding | Advance RefundingAdvanceRefunding | Final Allocation MadeFinalAllocationMade | Adequate Books And Recds MaintaindAdequateBooksAndRecdsMaintaind |
|---|---|---|---|---|---|---|---|---|
| 29990000 | 92761835 | 700000 | 632743 | 2005 | 1 | 0 | 1 | 1 |
| 8500000 | 112038442 | 1097606 | 652945 | 2005 | 1 | 0 | 1 | 1 |
| 810000 | 114326603 | 882556 | 2008 | 0 | 0 | 1 | 1 | |
| 72725000 | 292353983 | 2921700 | 3484705 | 2010 | 1 | 0 | 1 | 1 |
Form990 Schedule K Part III Form990ScheduleKPartIII (4 entries)
| Owning Bond Financed PropertyOwningBondFinancedProperty | Any Lease ArrangementsAnyLeaseArrangements | Mngment Cntrct Bond Financd PrprtyMngmentCntrctBondFinancdPrprty | Any Research AgreementsAnyResearchAgreements | Post Issuance Compliance ProcdrsPostIssuanceComplianceProcdrs |
|---|---|---|---|---|
| 0 | 0 | 0 | 0 | 0 |
| 0 | 0 | 0 | 0 | 0 |
| 0 | 0 | 0 | 0 | 0 |
| 0 | 0 | 0 | 0 | 1 |
Form990 Schedule K Part IV Form990ScheduleKPartIV (4 entries)
| Form8038 T FiledForm8038TFiled | Variable Rate IssueVariableRateIssue | Hedge Identified In Books And RecdsHedgeIdentifiedInBooksAndRecds | Gross Proceeds Invested In GICGrossProceedsInvestedInGIC | Term Of GICTermOfGIC | Regulatory Safe Harbor SatisfiedRegulatorySafeHarborSatisfied | Gross Proceeds InvestedGrossProceedsInvested | Exception To RebateExceptionToRebate | Business Name Line2NameOfHedgeProvider/BusinessNameLine2 | Term Of HedgeTermOfHedge | Superintegrated HedgeSuperintegratedHedge | Hedge TerminatedHedgeTerminated |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Trinity Funding | |||||||||||
| 1 | 1 | 0 | 1 | 30.000000000000 | 1 | 0 | 0 | ||||
| Trinity Funding | |||||||||||
| 1 | 1 | 0 | 1 | 30.000000000000 | 1 | 0 | 0 | ||||
| (no name) | |||||||||||
| 0 | 1 | 0 | 0 | 0 | 0 | ||||||
| Royal Bank of | |||||||||||
| 0 | 1 | 1 | 0 | 0 | 0 | Canada | 11.000000000000 | 0 | 0 | ||
Schedule K IRS990ScheduleK
Form990 Schedule K Part I Form990ScheduleKPartI (2 entries)
| Issuer EINIssuerEIN | CUSIP NumberCUSIPNumber | Date IssuedDateIssued | Issue PriceIssuePrice | Description Of PurposeDescriptionOfPurpose | DefeasedDefeased | On Behalf Of IssuerOnBehalfOfIssuer | Pool FinancingPoolFinancing |
|---|---|---|---|---|---|---|---|
| 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 |
Form990 Schedule K Part II Form990ScheduleKPartII (2 entries)
| Amount RetiredAmountRetired | Total ProceedsTotalProceeds | Amount In Reserve FundAmountInReserveFund | Issuance Costs From ProceedsIssuanceCostsFromProceeds | Year Of Subst CompletionYearOfSubstCompletion | Current RefundingCurrentRefunding | Advance RefundingAdvanceRefunding | Final Allocation MadeFinalAllocationMade | Adequate Books And Recds MaintaindAdequateBooksAndRecdsMaintaind |
|---|---|---|---|---|---|---|---|---|
| 6000000 | 198817887 | 1445250 | 1385558 | 2010 | 1 | 0 | 1 | 1 |
| 2000000 | 167300136 | 1818300 | 1010973 | 2010 | 1 | 0 | 1 | 1 |
Form990 Schedule K Part III Form990ScheduleKPartIII (2 entries)
| Owning Bond Financed PropertyOwningBondFinancedProperty | Any Lease ArrangementsAnyLeaseArrangements | Mngment Cntrct Bond Financd PrprtyMngmentCntrctBondFinancdPrprty | Any Research AgreementsAnyResearchAgreements | Bond Counsel Routinely EngagedBondCounselRoutinelyEngaged | Post Issuance Compliance ProcdrsPostIssuanceComplianceProcdrs |
|---|---|---|---|---|---|
| 0 | 0 | 0 | 0 | 0 | 1 |
| 0 | 0 | 0 | 0 | 0 | 1 |
Form990 Schedule K Part IV Form990ScheduleKPartIV (2 entries)
| Form8038 T FiledForm8038TFiled | Variable Rate IssueVariableRateIssue | Hedge Identified In Books And RecdsHedgeIdentifiedInBooksAndRecds | Business Name Line2NameOfHedgeProvider/BusinessNameLine2 | Term Of HedgeTermOfHedge | Superintegrated HedgeSuperintegratedHedge | Hedge TerminatedHedgeTerminated | Gross Proceeds Invested In GICGrossProceedsInvestedInGIC | Gross Proceeds InvestedGrossProceedsInvested | Exception To RebateExceptionToRebate |
|---|---|---|---|---|---|---|---|---|---|
| Royal Bank of | |||||||||
| 0 | 1 | 1 | Canada | 15.000000000000 | 0 | 0 | 0 | 0 | 0 |
| (no name) | |||||||||
| 0 | 1 | 0 | 0 | 0 | 0 | ||||
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (13 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| Changes in Program Services | Form 990, Part III, line 3 | The Health Care and Education Reconciliation Act of 2010 (H.R.4872/PL 111-152) was signed into law on March 30, 2010 and eliminated the ability to originate new loans under the Federal Family Education Loan Program (FFELP) beginning July 1, 2010. As a result, student loans with a first disbursement date on or after July 1, 2010 were no longer disbursed by NMEAF and no longer guaranteed by NMSLGC. |
| Form 990, Part VI, Section A, line 4 | Due to state legislation that was passed during the 2011 New Mexico State Legislature (House Bill 137), NMEAF Board of Directors was reduced from 11 members to 5 effective June 17, 2011. NMEAF no longer requires Regents of post-secondary schools to be represented on the Board because the Foundation no longer originates or disburses student loans. | |
| Form 990, Part VI, Section A, line 7a | The six members of the Board that are regents appoint three other members from the education and financial community per NMSA 1978 21-21A-6. | |
| 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. Per NMSA 1978 21-21-A-7, no salary at NMSL may exceed ninety percent of the average of the salaries of the presidents of the state institutions of higher education enumberated in Article 12, Section 11 of the Constitution of New Mexico. Surveys are conducted each year to ensure that the president's salary is in compliance with state statute. 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. Per NMSA 1978 21-21-A-7, no salary at NMSL may exceed ninety percent of the average of the salaries of the presidents of the state institutions of higher education enumberated in Article 12, Section 11 of the Constitution of New Mexico. 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: 6,428,913. |
| 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 |
Schedule R IRS990ScheduleR
Form990 Schedule R Part II Form990ScheduleRPartII
Name Of Disregarded Entity NameOfDisregardedEntity
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | New Mexico Student Loan Guarantee Corporation | BusinessNameLine1 |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 7400 Tiburon NE | AddressLine1 |
| City | Albuquerque | City |
| State | NM | State |
| ZIP Code | 87109 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 850291314 | EIN |
| Primary Activities | FFELP Student Loan Guarantor | PrimaryActivities |
| Legal Domicile State | NM | LegalDomicileState |
| Exempt Code Section | 501(c)(3) | ExemptCodeSection |
| Public Charity Status | 9 | PublicCharityStatus |
| Direct Controlling Entity NA | N/A | DirectControllingEntityNA |
| Controlled Org | 0 | ControlledOrg |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Ann Rents Royalties | 0 | ReceiptOfIntAnnRentsRoyalties |
| Gift Grant Or Cap Contr To Other Org | 0 | GiftGrantOrCapContrToOtherOrg |
| Gift Grant Or Cap Contr Fr Other Org | 0 | GiftGrantOrCapContrFrOtherOrg |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrg |
| Loans Or Guarantees From Other Org | 0 | LoansOrGuaranteesFromOtherOrg |
| Sale Of Assets To Other Org | 0 | SaleOfAssetsToOtherOrg |
| Purchase Of Assets From Other Org | 0 | PurchaseOfAssetsFromOtherOrg |
| Exchange Of Assets | 0 | ExchangeOfAssets |
| Rental Of Facilities To Other Orgs | 1 | RentalOfFacilitiesToOtherOrgs |
| Rental Of Facilities Fr Other Orgs | 0 | RentalOfFacilitiesFrOtherOrgs |
| Perform Of Services For Other Orgs | 1 | PerformOfServicesForOtherOrgs |
| Perform Of Services By Other Orgs | 0 | PerformOfServicesByOtherOrgs |
| Sharing Of Facilities | 0 | SharingOfFacilities |
| Sharing Of Paid Employees | 0 | SharingOfPaidEmployees |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrg |
| Reimbursement Paid By Other Org | 1 | ReimbursementPaidByOtherOrg |
| Other Transfer To Other Org | 0 | OtherTransferToOtherOrg |
| Other Transfer From Other Org | 0 | OtherTransferFromOtherOrg |
Transactions Related Orgs Table TransactionsRelatedOrgsTable (3 entries)
| Transaction TypeTransactionType | Amount InvolvedAmountInvolved |
|---|---|
| New Mexico Student Loan Guarantee Corporation | |
| I | 88154 |
| New Mexico Student Loan Guarantee Corporation | |
| K | 504850 |
| New Mexico Student Loan Guarantee Corporation | |
| P | 253063 |
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