2011-05-13T10:29:33-05:00 2010-06-30 Urbielewicz Murphree CPAs PC 4940 Corrales Road Suite 200 Corrales NM 87048 990 2009-07-01 850291313 New Mexico Educational Assistance Foundation NEWM 5057612063 PO Box 27020 Albuquerque NM 871257020 Brad Allpass 5057612063 2011-05-13 1 Karen Urbielewicz CPA 5058977382 2009 2016-02-24 21:20:13Z Elwood Farber PO Box 27020 Albuquerque NM 871257020 46051277 0 X www.nmstudentloans.org X 1981 NM To create educational opportunities for the residents of New Mexico by providing student loans. 11 11 168 0 0 0 0 45831604 45441561 1574659 609716 0 47406263 46051277 0 0 9898701 9417549 0 0 41028681 31406301 50927382 40823850 -3521119 5227427 1301575963 1565845607 1210140524 1461028924 91435439 104816683 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 32153251 44116389 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 6/30/10 was 301,784 1325172 1325172 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) 33478423 1 0 0 1 0 0 0 1 0 1 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 1 11908 0 1 168 1 0 0 0 0 0 0 0 0 0 0 0 11 11 0 0 0 0 0 1 0 1 1 0 0 0 1 1 1 1 1 1 1 0 NM 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 Richard N Carpenter 2.00 X 0 0 0 Jerry Walz 2.00 X 0 0 0 Bryan E Valentine 2.00 X 0 0 0 Paul Weaver 2.00 X 0 0 0 James B Lewis 2.00 X 0 0 0 Randy Harris 2.00 X 0 0 0 Nancy R Long 2.00 X 0 0 0 Chris Anaya 2.00 X 0 0 0 Cate Wisdom 2.00 X 0 0 0 Elwood Farber 30.00 X 291003 0 27039 Cecilia Evjen 30.00 X 168015 0 22312 Reginald Storment 35.00 X 164088 0 16125 Brad Allpass 35.00 X 168404 0 16710 Paul Padilla 40.00 X 167936 0 16511 Christopher Sanchez 40.00 X 118902 0 11572 Esther Chavez 40.00 X 115342 0 8483 Steve Coffey 40.00 X 103162 0 17976 Gavin Gillette 40.00 X 124612 0 12073 1421464 0 148801 9 0 1 0 RBC Capital Markets Church St Station PO Box 559 New York NY 10008 FAC/Remarketing Fees 2442886 Valtech Technologies Inc 5080 Spectrum Drive Suite 700 West Addison TX 75001 Program Software 1655621 Data Print 5201 Venice Avenue SE Suite E Albuquerque NM 87113 Outside Mail Service 715965 5280 Solutions 709 East River Park Lane Suite 100 Boise ID 83706 IT System Support 341216 University Accounting Service 24893 Network Place Chicago IL 606731248 Collection Service 184123 13 Student Loan Interest 900099 43809117 43809117 Late and Legal Fees 900099 1922211 1922211 Service Fees 900099 1761564 1761564 Interest Subsidy and S 900099 -2051331 -2051331 45441561 609716 609716 46051277 45441561 0 609716 1557502 469751 1087751 6101455 2948542 3152913 375220 196656 178564 837898 403724 434174 545474 269568 275906 105788 105788 87541 87541 17044 17044 564130 471082 93048 96108 22599 73509 1415321 1195977 219344 558639 760 557879 354334 195031 159303 89482 21333 68149 13590671 13590671 535630 535630 144027 144027 Department of Education 6113799 6113799 0 Student Loan Related Co 3150675 3150675 0 Trust Expense 2668109 2668109 0 Bad Debt Expense 1151738 1151738 0 Training 61920 1462 60458 701345 589902 111443 40823850 33478423 7345427 0 544171 715582 4608575 4047011 424999 58393 1170054794 1329577330 6796011 8031900 18667850 5450946 11770853 13216904 81908978 164242650 25467582 45955837 1301575963 1565845607 6896304 6894505 983395000 1113913408 5322 13731 22886853 216994742 196957045 123212538 1210140524 1461028924 X 0 0 0 0 91435439 104816683 91435439 104816683 1301575963 1565845607 X 0 1 1 X 1 1 X 51869513 64931182 64172452 48163862 37492963 266629972 51869513 64931182 64172452 48163862 37492963 266629972 0 14566383 18166663 14030004 46763050 14566383 18166663 14030004 46763050 219866922 6059394 7905595 8189155 1574659 609716 24338519 6059394 7905595 8189155 1574659 609716 24338519 57928907 72836777 72361607 49738521 38102679 290968491 0.75560 0.71700 0.08360 0.09300 X 0 1 0 0 0 0 1 17044 0 0 17044 0 0 1 1011520 1011520 5764917 1378791 4386126 154700 139532 15168 11736713 3932623 7804090 13216904 Fidelity Money Market 3475177 F Trustee Loan Program Funds 160767473 F 164242650 Excess Earning/Rebate Payable 23173332 Taxable Bonds O/S 92000000 SAP 8039206 123212538 46051277 40823850 5227427 8153817 8153817 13381244 46179590 8153817 8153817 38025773 8025504 8025504 46051277 40823850 0 40823850 0 40823850 Part IV, Line 2b: Part IV, line 2b: Deposits in transit are held for other banks and financial institutions as of June 30, 2010. These amounts transferred to the owners in July. Part XII, Line 4b - Other Adjustments: Arbitrage Rebate Provision: 76906. Excess Earnings Provision: 7948598. X X X X 0 0 0 0 0 0 0 0 0 Elwood Farber 268930 0 22073 0 0 0 0 0 27039 0 318042 0 356679 0 Cecilia Evjen 157671 0 10344 0 0 0 0 0 22312 0 190327 0 175064 0 Reginald Storment 154043 0 10045 0 0 0 0 0 16125 0 180213 0 208206 0 Brad Allpass 157984 0 10420 0 0 0 0 0 16710 0 185114 0 216646 0 Paul Padilla 157690 0 10246 0 0 0 0 0 16511 0 184447 0 211401 0 New Mexico Educational Assistance Foundation 850291313 647110CP8 2003-10-09 89590000 Education Loan Bonds And Refunding 0 1 New Mexico Educational Assistance Foundation 850291313 647110CV5 2004-04-21 83250000 Education Loan Bonds And Refunding 0 1 New Mexico Educational Assistance Foundation 850291313 647110D67 2007-08-01 113430000 Education Loan Bonds 0 1 New Mexico Educational Assistance Foundation 850291313 647110DL6 2008-06-26 385975000 Education Loan Bonds And Refunding 0 1 New Mexico Educational Assistance Foundation 850291313 647110DU6 2009-09-16 292170000 Education Loan Bonds And Refunding 0 1 92761835 700000 632743 2005 1 0 1 1 112038442 1097500 652945 2005 1 0 1 1 114326603 882556 2008 0 0 1 1 386153039 3269813 5228202 2009 1 0 1 1 292353983 2921700 3484705 2010 1 0 1 1 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 0 0 1 0 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 0 0 0 0 0 1 1 Royal Bank of Canada 10.000000000000 0 0 0 New Mexico Educational Assistance Foundation 850291313 NONEAVAIL 2009-08-05 40000000 Education Loan Bonds 0 1 40014516 400000 17979 2010 0 0 1 1 0 0 0 0 0 1 1 1 0 0 0 0 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 suported 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. There has been no change in the process for oversight of the audit or selection of an independent auditor. Form 990, Part IV, Question 24b Temporary Periods 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. Schedule K Refunding Bonds Schedule KAUsed to refund all or a portion of: 1994IIissue date 02/01/94 1994 IIIissue date 07/15/94 1995IVissue date 03/01/95 1995A issue date 11/01/95 1996 B issue date 09/05/96 1998issue date 02/24/98 1999issue date 05/18/99 2000issue date 10/17/2000 Schedule KBUsed to refund all or a portion of: 1994IIissue date 02/01/94 1994 IIIissue date 07/15/94 1995IVissue date 03/01/95 1995A issue date 11/01/95 1996 B issue date 09/05/96 1998issue date 02/24/98 1999issue date 05/18/99 2000issue date 10/17/2000 2001issue date 12/03/2001 2002issue date 12/09/02 Schedule KCNo notes Schedule KDUsed to refund all or a portion of: 1996Aissue date 07/15/96 1999issue date 05/18/99 2000issue date 10/17/2000 2001issue date 12/03/2001 2003issue date 10/09/03 2005issue date 10/13/05 2006issue date 07/26/06 Schedule KEUsed to refund all or a portion of: 1995Aissue date 11/01/95 1996Aissue date 07/15/96 1998issue date 02/24/98 1999issue date 05/18/99 2001issue date 12/03/2001 2003issue date 10/09/03 2005issue date 10/13/05 2006issue date 07/26/06 2008 Dissue date 08/11/08 2008 Eissue date 12/05/08 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 1 0 1 0 0 0 0 1 0 0 New Mexico Student Loan Guarantee Corporation I 119974 New Mexico Student Loan Guarantee Corporation K 892583 New Mexico Student Loan Guarantee Corporation P 429538