PANHANDLE-PLAINS STUDENT FINANCE: Form 990, tax year 2009

View the entire original 990 at ProPublica ↗

Organization: PANHANDLE-PLAINS STUDENT FINANCE (EIN 75-2059556)
Tax period: 2009-09-01 to 2010-08-31
Filed: 2011-07-13
IRS object ID: 201141949349301154
Schema version: 2009v1.7
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 D
Schedule J
Schedule O
Schedule R

Return header ReturnHeader

Field	Value	IRS element (for citing)
Timestamp	2011-07-13T16:08:31-05:00	Timestamp
Tax Period End Date	2010-08-31	TaxPeriodEndDate

Preparer Firm PreparerFirm

Preparer Firm Business Name PreparerFirmBusinessName

Field	Value	IRS element (for citing)
Business Name Line1	JOHNSON & SHELDON PC	BusinessNameLine1

Preparer Firm US Address PreparerFirmUSAddress

Field	Value	IRS element (for citing)
Address Line1	PO BOX 509	AddressLine1
City	AMARILLO	City
State	TX	State
ZIP Code	791050509	ZIPCode

Field	Value	IRS element (for citing)
Return Type	990	ReturnType
Tax Period Begin Date	2009-09-01	TaxPeriodBeginDate

Filer Filer

Field	Value	IRS element (for citing)
EIN	752059556	EIN

Name Name

Field	Value	IRS element (for citing)
Business Name Line1	PANHANDLE-PLAINS STUDENT FINANCE	BusinessNameLine1
Business Name Line2	CORPORATION	BusinessNameLine2

Field	Value	IRS element (for citing)
Name Control	PANH	NameControl
Phone	8063244100	Phone

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	1303 23RD STREET	AddressLine1
City	CANYON	City
State	TX	State
ZIP Code	79015	ZIPCode

Officer Officer

Field	Value	IRS element (for citing)
Name	JIMMY PARKER	Name
Title	EXECUTIVE DIRECTOR	Title
Phone	8063244100	Phone
Date Signed	2011-07-05	DateSigned

Preparer Preparer

Field	Value	IRS element (for citing)
Name	RICHARD W BLANKENSHIP	Name
Phone	8063717661	Phone
Date Prepared	2011-07-05	DatePrepared

Field	Value	IRS element (for citing)
Tax Year	2009	TaxYear
Build TS	2016-02-24 21:20:13Z	BuildTS

Form 990 IRS990

Field	Value	IRS element (for citing)
Name Of Principal Officer Person	JIMMY PARKER	NameOfPrincipalOfficerPerson

Address Principal Officer US AddressPrincipalOfficerUS

Field	Value	IRS element (for citing)
Address Line1	1303 23RD STREET	AddressLine1
City	CANYON	City
State	TX	State
ZIP Code	79015	ZIPCode

Field	Value	IRS element (for citing)
Gross Receipts	5192859	GrossReceipts
Group Return For Affiliates	false	GroupReturnForAffiliates
Organization501c	X	Organization501c
Web Site	WWW.PPSFC.ORG	WebSite
Type Of Organization Corporation	X	TypeOfOrganizationCorporation
Year Formation	1985	YearFormation
State Legal Domicile	TX	StateLegalDomicile
Activity Or Mission Description	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.	ActivityOrMissionDescription
Nbr Voting Members Governing Body	7	NbrVotingMembersGoverningBody
Nbr Independent Voting Members	7	NbrIndependentVotingMembers
Total Nbr Employees	0	TotalNbrEmployees
Total Gross UBI	0	TotalGrossUBI
Contributions Grants Current Year	0	ContributionsGrantsCurrentYear
Program Service Revenue Prior Year	6767897	ProgramServiceRevenuePriorYear
Program Service Revenue CY	5182419	ProgramServiceRevenueCY
Investment Income Prior Year	1208651	InvestmentIncomePriorYear
Investment Income Current Year	7940	InvestmentIncomeCurrentYear
Other Revenue Prior Year	57	OtherRevenuePriorYear
Other Revenue Current Year	2500	OtherRevenueCurrentYear
Total Revenue Prior Year	7976605	TotalRevenuePriorYear
Total Revenue Current Year	5192859	TotalRevenueCurrentYear
Grants And Similar Amnts CY	0	GrantsAndSimilarAmntsCY
Benefits Paid To Members CY	0	BenefitsPaidToMembersCY
Salaries Etc Current Year	0	SalariesEtcCurrentYear
Total Prof Fundrsng Exp CY	0	TotalProfFundrsngExpCY
Total Fundrsng Exp Current Year	0	TotalFundrsngExpCurrentYear
Other Expense Prior Year	5940616	OtherExpensePriorYear
Other Expenses Current Year	3363175	OtherExpensesCurrentYear
Total Expenses Prior Year	5940616	TotalExpensesPriorYear
Total Expenses Current Year	3363175	TotalExpensesCurrentYear
Revenues Less Expenses Prior Year	2035989	RevenuesLessExpensesPriorYear
Revenues Less Expenses CY	1829684	RevenuesLessExpensesCY
Total Assets BOY	122638128	TotalAssetsBOY
Total Assets EOY	103006481	TotalAssetsEOY
Total Liabilities BOY	109767994	TotalLiabilitiesBOY
Total Liabilities EOY	88306663	TotalLiabilitiesEOY
Net Assets Or Fund Balances BOY	12870134	NetAssetsOrFundBalancesBOY
Net Assets Or Fund Balances EOY	14699818	NetAssetsOrFundBalancesEOY
Mission Description	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.	MissionDescription
Significant New Program Services	false	SignificantNewProgramServices
Significant Change	false	SignificantChange
Expense	3283798	Expense
Revenue	5182419	Revenue
Description	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 PARTI- CIPATION IN THE FEDERAL FAMILY EDUCATION LOAN PROGRAM UNDER THE HIGHER EDUCATION ACT OF 1965.	Description
Total Program Service Expense	3283798	TotalProgramServiceExpense
Described In501 C3	true	DescribedIn501C3
Schedule B Required	false	ScheduleBRequired
Political Activities	false	PoliticalActivities
Lobbying Activities	false	LobbyingActivities
Donor Advised Funds	false	DonorAdvisedFunds
Conservation Easements	false	ConservationEasements
Collections Of Art	false	CollectionsOfArt
Credit Counseling	false	CreditCounseling
Term Or Permanent Endowments	false	TermOrPermanentEndowments
Balance Sheet Amounts Reported	true	BalanceSheetAmountsReported
Independent Audit Financial Stmt	true	IndependentAuditFinancialStmt
Consolidated Audit Financial Stmt	false	ConsolidatedAuditFinancialStmt
School	false	School
Foreign Office	false	ForeignOffice
Foreign Activities	false	ForeignActivities
More Than5000 K To Organizations	false	MoreThan5000KToOrganizations
More Than5000 K To Individuals	false	MoreThan5000KToIndividuals
Professional Fundraising	false	ProfessionalFundraising
Fundraising Activities	false	FundraisingActivities
Gaming	false	Gaming
Hospital	false	Hospital
Grants To Organizations	false	GrantsToOrganizations
Grants To Individuals	false	GrantsToIndividuals
Schedule J Required	true	ScheduleJRequired
Tax Exempt Bonds	false	TaxExemptBonds
Excess Benefit Transaction	false	ExcessBenefitTransaction
Prior Excess Benefit Transaction	false	PriorExcessBenefitTransaction
Loan To Officer Or DQP	false	LoanToOfficerOrDQP
Grant To Related Person	false	GrantToRelatedPerson
Bsnss Rltnshp With Organization	false	BsnssRltnshpWithOrganization
Bsnss Rltnshp Thru Family Member	false	BsnssRltnshpThruFamilyMember
Officer Entity With Bsnss Rltnshp	false	OfficerEntityWithBsnssRltnshp
Deductible Non Cash Contributions	false	DeductibleNonCashContributions
Deductible Contributions Of Art	false	DeductibleContributionsOfArt
Terminated	false	Terminated
Partial Liquidation	false	PartialLiquidation
Disregarded Entity	false	DisregardedEntity
Related Entity	true	RelatedEntity
Related Org Controlled Entity	false	RelatedOrgControlledEntity
Transfers To Exempt Non Chrtbl Org	false	TransfersToExemptNonChrtblOrg
Activities Conducted Partnership	false	ActivitiesConductedPartnership
Schedule O Required	true	ScheduleORequired
Number Forms Transmitted With1096	1	NumberFormsTransmittedWith1096
Number W2 G Included	0	NumberW2GIncluded
Compliance With Backup Witholding	true	ComplianceWithBackupWitholding
Number Of Employees	0	NumberOfEmployees
Unrelated Business Income	false	UnrelatedBusinessIncome
Foreign Financial Account	false	ForeignFinancialAccount
Prohibited Tax Shelter Trans	false	ProhibitedTaxShelterTrans
Taxable Party Notification	false	TaxablePartyNotification
Non Deductible Contributions	false	NonDeductibleContributions
Quid Pro Quo Contributions	false	QuidProQuoContributions
Form8282 Property Disposed Of	false	Form8282PropertyDisposedOf
Funds To Pay Premiums	false	FundsToPayPremiums
Premiums Paid	false	PremiumsPaid
Nbr Voting Governing Body Members	7	NbrVotingGoverningBodyMembers
Number Independent Voting Members	7	NumberIndependentVotingMembers
Family Or Business Relationship	false	FamilyOrBusinessRelationship
Delegation Of Management Duties	true	DelegationOfManagementDuties
Changes To Organizing Docs	false	ChangesToOrganizingDocs
Material Diversion Or Misuse	false	MaterialDiversionOrMisuse
Members Or Stockholders	false	MembersOrStockholders
Election Of Board Members	false	ElectionOfBoardMembers
Decisions Subject To Approval	false	DecisionsSubjectToApproval
Minutes Of Governing Body	true	MinutesOfGoverningBody
Minutes Of Committees	true	MinutesOfCommittees
Officer Mailing Address	false	OfficerMailingAddress
Local Chapters	false	LocalChapters
Form990 Provided To Governing Body	true	Form990ProvidedToGoverningBody
Conflict Of Interest Policy	true	ConflictOfInterestPolicy
Annual Disclosure Covered Persons	true	AnnualDisclosureCoveredPersons
Regular Monitoring Enforcement	true	RegularMonitoringEnforcement
Whistleblower Policy	true	WhistleblowerPolicy
Document Retention Policy	false	DocumentRetentionPolicy
Compensation Process CEO	true	CompensationProcessCEO
Compensation Process Other	true	CompensationProcessOther
Investment In Joint Venture	false	InvestmentInJointVenture
Upon Request	X	UponRequest

The Books Are In Care Of TheBooksAreInCareOf

Field	Value	IRS element (for citing)
Name Person	JIMMY PARKER	NamePerson
Telephone Number	8063244100	TelephoneNumber

Address US AddressUS

Field	Value	IRS element (for citing)
Address Line1	1303 23RD STREET	AddressLine1
City	CANYON	City
State	TX	State
ZIP Code	79015	ZIPCode

Field	Value	IRS element (for citing)
No Listed Persons Compensated	X	NoListedPersonsCompensated

Form990 Part VII Section A Form990PartVIISectionA (10 entries)

TitleTitle	Average Hours Per WeekAverageHoursPerWeek	Individual Trustee Or DirectorIndividualTrusteeOrDirector	Reportable Comp From OrganizationReportableCompFromOrganization	Reportable Comp From Related OrgsReportableCompFromRelatedOrgs	Other CompensationOtherCompensation	OfficerOfficer	FormerFormer
BILL FORBES
DIRECTOR	2.00	X	0	0	0
ANN DUNCAN
DIRECTOR	2.00	X	0	0	0
JAN BENTON
DIRECTOR	2.00	X	0	0	0
PAUL K HENDERSON
DIRECTOR	2.00	X	0	0	0
QUINN ALEXANDER
DIRECTOR	2.00	X	0	0	0
NEAL COMBS
EXECUTIVE DI	1.00		0	192952	30872	X
JOHN WRIGHT
CFO	1.00		0	120069	14776	X
BEVERLY COTTINGHAM
VICE PRES	2.00		0	0	0	X
RON GAMMAGE
PRESIDENT	2.00		0	0	0	X
TERRY LANGEHANNIG
FORMER EXEC	1.00		0	281208	33161	X	X

Field	Value	IRS element (for citing)
Total Reportable Comp Frm Rltd Orgs	594229	TotalReportableCompFrmRltdOrgs
Total Other Compensation	78809	TotalOtherCompensation
Number Individuals GT100 K	4	NumberIndividualsGT100K
Formers Listed	true	FormersListed
Total Comp GT150 K	true	TotalCompGT150K
Compensation From Other Sources	false	CompensationFromOtherSources

Contractor Compensation ContractorCompensation

Name Of Contractor NameOfContractor

Name Business NameBusiness

Field	Value	IRS element (for citing)
Business Name Line1	PPMSC	BusinessNameLine1

Address Of Contractor AddressOfContractor

Address US AddressUS

Field	Value	IRS element (for citing)
Address Line1	1303 23RD STREET	AddressLine1
City	CANYON	City
State	TX	State
ZIP Code	79015	ZIPCode

Field	Value	IRS element (for citing)
Description Of Services	LOAN/MGT/OPER	DescriptionOfServices
Compensation	774125	Compensation

Field	Value	IRS element (for citing)
Number Of Contractors GT100 K	1	NumberOfContractorsGT100K

Program Service Revenue ProgramServiceRevenue (3 entries)

DescriptionDescription	Business CodeBusinessCode	Total Revenue ColumnTotalRevenueColumn	Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome
STUDENT LOAN INTEREST - NET	522299	4479160	4479160
LOAN ORIGINATION FEE AMORTIZA	522299	394893	394893
ECASLA LOAN SERVICING REVENUE	522299	308366	308366

Field	Value	IRS element (for citing)
Total Program Service Revenue	5182419	TotalProgramServiceRevenue

Investment Income InvestmentIncome

Field	Value	IRS element (for citing)
Total Revenue Column	7940	TotalRevenueColumn
Exclusion	$7,940	ExclusionAmount

Other Revenue Misc OtherRevenueMisc

Field	Value	IRS element (for citing)
Description	OTHER INCOME	Description
Total Revenue Column	2500	TotalRevenueColumn
Related Or Exempt Function Income	2500	RelatedOrExemptFunctionIncome

Field	Value	IRS element (for citing)
Total Other Revenue	2500	TotalOtherRevenue

Total Revenue TotalRevenue

Field	Value	IRS element (for citing)
Total Revenue Column	5192859	TotalRevenueColumn
Related Or Exempt Function Income	5184919	RelatedOrExemptFunctionIncome
Exclusion	$7,940	ExclusionAmount

Fees For Services Legal FeesForServicesLegal

Field	Value	IRS element (for citing)
Total	108407	Total
Program Services	54204	ProgramServices
Management And General	54203	ManagementAndGeneral

Interest Interest

Field	Value	IRS element (for citing)
Total	1770583	Total
Program Services	1770583	ProgramServices

Other Expenses OtherExpenses (5 entries)

DescriptionDescription	TotalTotal	Program ServicesProgramServices	Management And GeneralManagementAndGeneral
CONSOLIDATION FEES	677841	677841
LOAN SERVICING FEES	601172	601172
MAINTENANCE & OPERATING F	167225	167225
TRUSTEE FEES	25174		25174
MISCELLANEOUS EXPENSES	21149	21149

All Other Expenses AllOtherExpenses

Field	Value	IRS element (for citing)
Total	-8376	Total
Program Services	-8376	ProgramServices

Total Functional Expenses TotalFunctionalExpenses

Field	Value	IRS element (for citing)
Total	3363175	Total
Program Services	3283798	ProgramServices
Management And General	79377	ManagementAndGeneral
Fundraising	0	Fundraising

Cash Non Interest Bearing CashNonInterestBearing

Field	Value	IRS element (for citing)
BOY	1832467	BOY
EOY	3729119	EOY

Savings And Temp Cash Investments SavingsAndTempCashInvestments

Field	Value	IRS element (for citing)
BOY	4704083	BOY
EOY	5112490	EOY

Accounts Receivable AccountsReceivable

Field	Value	IRS element (for citing)
BOY	2931239	BOY
EOY	2659987	EOY

Other Notes Loans Receivable Net OtherNotesLoansReceivableNet

Field	Value	IRS element (for citing)
BOY	112932518	BOY
EOY	91280930	EOY

Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges

Field	Value	IRS element (for citing)
BOY	1330	BOY
EOY	5656	EOY

Intangible Assets IntangibleAssets

Field	Value	IRS element (for citing)
BOY	236491	BOY
EOY	218299	EOY

Total Assets TotalAssets

Field	Value	IRS element (for citing)
BOY	122638128	BOY
EOY	103006481	EOY

Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses

Field	Value	IRS element (for citing)
BOY	532938	BOY
EOY	133859	EOY

Mort Notes Pybl Secured Invest Prop MortNotesPyblSecuredInvestProp

Field	Value	IRS element (for citing)
BOY	97000000	BOY
EOY	88200000	EOY

Other Liabilities OtherLiabilities

Field	Value	IRS element (for citing)
BOY	12235056	BOY
EOY	-27196	EOY

Total Liabilities TotalLiabilities

Field	Value	IRS element (for citing)
BOY	109767994	BOY
EOY	88306663	EOY

Field	Value	IRS element (for citing)
Follow SFAS117	X	FollowSFAS117

Unrestricted Net Assets UnrestrictedNetAssets

Field	Value	IRS element (for citing)
BOY	921108	BOY
EOY	1130611	EOY

Temporarily Restricted Net Assets TemporarilyRestrictedNetAssets

Field	Value	IRS element (for citing)
BOY	11949026	BOY
EOY	13569207	EOY

Total Net Assets Fund Balances TotalNetAssetsFundBalances

Field	Value	IRS element (for citing)
BOY	12870134	BOY
EOY	14699818	EOY

Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances

Field	Value	IRS element (for citing)
BOY	122638128	BOY
EOY	103006481	EOY

Field	Value	IRS element (for citing)
Method Of Accounting Accrual	X	MethodOfAccountingAccrual
Accountant Compile Or Review	false	AccountantCompileOrReview
FS Audited	true	FSAudited
Audit Committee	true	AuditCommittee
Financial Statement Consolidated	X	FinancialStatementConsolidated
Federal Grant Audit Required	true	FederalGrantAuditRequired
Federal Grant Audit Performed	true	FederalGrantAuditPerformed

Schedule A IRS990ScheduleA

Field	Value	IRS element (for citing)
Publicly Supported Org509a2	X	PubliclySupportedOrg509a2

Gross Receipts From Admissions GrossReceiptsFromAdmissions

Field	Value	IRS element (for citing)
Current Tax Year Minus4 Years	7267987	CurrentTaxYearMinus4Years
Current Tax Year Minus3 Years	8188557	CurrentTaxYearMinus3Years
Current Tax Year Minus2 Years	7683359	CurrentTaxYearMinus2Years
Current Tax Year Minus1 Year	6767897	CurrentTaxYearMinus1Year
Current Tax Year	5182419	CurrentTaxYear
Total	35090219	Total

Total509 Total509

Field	Value	IRS element (for citing)
Current Tax Year Minus4 Years	7267987	CurrentTaxYearMinus4Years
Current Tax Year Minus3 Years	8188557	CurrentTaxYearMinus3Years
Current Tax Year Minus2 Years	7683359	CurrentTaxYearMinus2Years
Current Tax Year Minus1 Year	6767897	CurrentTaxYearMinus1Year
Current Tax Year	5182419	CurrentTaxYear
Total	35090219	Total

Field	Value	IRS element (for citing)
Public Support Total509	35090219	PublicSupportTotal509

Gross Investment Income509 GrossInvestmentIncome509

Field	Value	IRS element (for citing)
Current Tax Year Minus4 Years	531509	CurrentTaxYearMinus4Years
Current Tax Year Minus3 Years	488354	CurrentTaxYearMinus3Years
Current Tax Year Minus2 Years	193171	CurrentTaxYearMinus2Years
Current Tax Year Minus1 Year	1208651	CurrentTaxYearMinus1Year
Current Tax Year	7940	CurrentTaxYear
Total	2429625	Total

Investment Income And UBTI InvestmentIncomeAndUBTI

Field	Value	IRS element (for citing)
Current Tax Year Minus4 Years	531509	CurrentTaxYearMinus4Years
Current Tax Year Minus3 Years	488354	CurrentTaxYearMinus3Years
Current Tax Year Minus2 Years	193171	CurrentTaxYearMinus2Years
Current Tax Year Minus1 Year	1208651	CurrentTaxYearMinus1Year
Current Tax Year	7940	CurrentTaxYear
Total	2429625	Total

Other Income509 OtherIncome509

Field	Value	IRS element (for citing)
Current Tax Year Minus2 Years	772	CurrentTaxYearMinus2Years
Current Tax Year Minus1 Year	57	CurrentTaxYearMinus1Year
Current Tax Year	2500	CurrentTaxYear
Total	3329	Total

Total Support Total TotalSupportTotal

Field	Value	IRS element (for citing)
Current Tax Year Minus4 Years	7799496	CurrentTaxYearMinus4Years
Current Tax Year Minus3 Years	8676911	CurrentTaxYearMinus3Years
Current Tax Year Minus2 Years	7877302	CurrentTaxYearMinus2Years
Current Tax Year Minus1 Year	7976605	CurrentTaxYearMinus1Year
Current Tax Year	5192859	CurrentTaxYear
Total	37523173	Total

Field	Value	IRS element (for citing)
Public Support Percentage509	0.93520	PublicSupportPercentage509
Prior Year Support Percentage	0.92900	PriorYearSupportPercentage
Investment Income Percentage	0.06000	InvestmentIncomePercentage
Prior Yr Invest Income Percentage	0.07000	PriorYrInvestIncomePercentage
Thirty Three Percnt Tests CY509	X	ThirtyThreePercntTestsCY509

Schedule D IRS990ScheduleD

Field	Value	IRS element (for citing)
Disclosed Orgs Legal Control	false	DisclosedOrgsLegalControl
Disclosed For Charitable Purposes	false	DisclosedForCharitablePurposes
Written Policy Monitoring	false	WrittenPolicyMonitoring
Sect170h Requirements Satisfied	false	Sect170hRequirementsSatisfied
Solicited Assets For Sale	false	SolicitedAssetsForSale
Agent Trustee Etc	false	AgentTrusteeEtc
Included On FS	false	IncludedOnFS
Endowments Held By Unrelated Orgs	false	EndowmentsHeldByUnrelatedOrgs
Endowments Held By Related Orgs	false	EndowmentsHeldByRelatedOrgs
Are Related Orgs Listed Schedule R	false	AreRelatedOrgsListedScheduleR

Other Liabilities OtherLiabilities (5 entries)

DescriptionDescription	AmountAmount
DEFERRED LOAN ORIGINATION FEES	$203,829
ACCRUED INTEREST PAYABLE	$106,186
ECASLA LOAN PARTICIPATION ARRANGEMNT
LINE OF CREDIT ARRANGEMENT
UNAMORTIZED ORIGINAL ISSUE DISCOUNT	-$337,211

Field	Value	IRS element (for citing)
Total Of Amounts	-27196	TotalOfAmounts
Total Revenue	5192859	TotalRevenue
Total Expenses	3363175	TotalExpenses
Excess Or Deficit For Year	1829684	ExcessOrDeficitForYear
Excess Or Deficit Per FS	1829684	ExcessOrDeficitPerFS
Tot Revenue Etc Audited Fincl Stmt	5192859	TotRevenueEtcAuditedFinclStmt
Revenue Subtotal	5192859	RevenueSubtotal
Total Revenue Per Form990	5192859	TotalRevenuePerForm990
Tot Expenses Etc Audited Fincl Stmt	3363175	TotExpensesEtcAuditedFinclStmt
Expenses Subtotal	3363175	ExpensesSubtotal
Total Expenses Per Form990	3363175	TotalExpensesPerForm990

Schedule J IRS990ScheduleJ

Field	Value	IRS element (for citing)
Board Or Committee Approval	X	BoardOrCommitteeApproval
Severance Payment	false	SeverancePayment
Supplemental Nonqual Retire Plan	false	SupplementalNonqualRetirePlan
Equity Based Comp Arrangement	false	EquityBasedCompArrangement
Comp Based On Revenue Of Filing Org	false	CompBasedOnRevenueOfFilingOrg
Comp Based On Revenue Related Orgs	false	CompBasedOnRevenueRelatedOrgs
Comp Based Net Earnings Filing Org	false	CompBasedNetEarningsFilingOrg
Comp Based Net Earnings Relate Orgs	false	CompBasedNetEarningsRelateOrgs
Any Non Fixed Payments	false	AnyNonFixedPayments
Initial Contract Exception	false	InitialContractException

Form990 Schedule J Part II Form990ScheduleJPartII (2 entries)

Comp Based On Related OrgsCompBasedOnRelatedOrgs	Nontaxable Benefits Related OrgsNontaxableBenefitsRelatedOrgs	Total Compensation Related OrgsTotalCompensationRelatedOrgs	Comp Report Prior990 Related OrgsCompReportPrior990RelatedOrgs
NEAL COMBS
192952	30872	223824
TERRY LANGEHANNIG
281208	33161	314369	446392

Schedule O IRS990ScheduleO

General Explanation GeneralExplanation (8 entries)

IdentifierIdentifier	Return ReferenceReturnReference	ExplanationExplanation
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.
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 11	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	SCHEDULE O	FORM 990, PART IV, LINE 28C - DIRECTOR ACTING AS OFFICER OF AN ENTITY DOING BUSINESS WITH PPSFC DIRECTOR JAN BENTON IS AN OFFICER FOR AMARILLO NATIONAL BANK, WHOM PPSFC HAD A LINE OF CREDIT. SHE ABSTAINED FROM VOTING ON ANY MATTERS RELATING TO AMARILLO NATIONAL BANK OR THE LINE OF CREDIT. 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 (PPMSC) WHICH PAYS THE EXECUTIVE DIRECTOR/CEO'S COMPENSATION. SCHEDULE O - ADDITIONAL INFORMATION THE PPSFC BOARD IS DIRECTING MANAGEMENT TO DEVELOP A WRITTEN DOCUMENT RETENTION AND DESTRUCTION POLICY.

Schedule R IRS990ScheduleR

Form990 Schedule R Part II Form990ScheduleRPartII

Name Of Disregarded Entity NameOfDisregardedEntity

Field	Value	IRS element (for citing)
Business Name Line1	PANHNADLE-PLAINS HIGHER EDUCATION	BusinessNameLine1
Business Name Line2	AUTHORITY	BusinessNameLine2

Address US AddressUS

Field	Value	IRS element (for citing)
Address Line1	1303 23RD STREET	AddressLine1
City	CANYON	City
State	TX	State
ZIP Code	79015	ZIPCode

Field	Value	IRS element (for citing)
EIN	237025386	EIN
Primary Activities	STUD LOANS	PrimaryActivities
Legal Domicile State	TX	LegalDomicileState
Exempt Code Section	501	ExemptCodeSection
Public Charity Status	11A	PublicCharityStatus

Direct Controlling Entity Name DirectControllingEntityName

Field	Value	IRS element (for citing)
Business Name Line1	NA	BusinessNameLine1

Form990 Schedule R Part IV Form990ScheduleRPartIV

Name Of Related Org NameOfRelatedOrg

Field	Value	IRS element (for citing)
Business Name Line1	PPMSC	BusinessNameLine1

Address US AddressUS

Field	Value	IRS element (for citing)
Address Line1	1303 23RD STREET	AddressLine1
City	CANYON	City
State	TX	State
ZIP Code	79015	ZIPCode

Field	Value	IRS element (for citing)
EIN	752832311	EIN
Primary Activity	LOAN SERV.	PrimaryActivity
Legal Domicile State	TX	LegalDomicileState

Direct Controlling Entity Name DirectControllingEntityName

Field	Value	IRS element (for citing)
Business Name Line1	NA	BusinessNameLine1

Field	Value	IRS element (for citing)
Type Of Entity	C CORP	TypeOfEntity

Field	Value	IRS element (for citing)
Receipt Of Int Ann Rents Royalties	false	ReceiptOfIntAnnRentsRoyalties
Gift Grant Or Cap Contr To Other Org	false	GiftGrantOrCapContrToOtherOrg
Gift Grant Or Cap Contr Fr Other Org	false	GiftGrantOrCapContrFrOtherOrg
Loans Or Guarantees To Other Org	false	LoansOrGuaranteesToOtherOrg
Loans Or Guarantees From Other Org	false	LoansOrGuaranteesFromOtherOrg
Sale Of Assets To Other Org	false	SaleOfAssetsToOtherOrg
Purchase Of Assets From Other Org	false	PurchaseOfAssetsFromOtherOrg
Exchange Of Assets	false	ExchangeOfAssets
Rental Of Facilities To Other Orgs	false	RentalOfFacilitiesToOtherOrgs
Rental Of Facilities Fr Other Orgs	false	RentalOfFacilitiesFrOtherOrgs
Perform Of Services For Other Orgs	false	PerformOfServicesForOtherOrgs
Perform Of Services By Other Orgs	true	PerformOfServicesByOtherOrgs
Sharing Of Facilities	true	SharingOfFacilities
Sharing Of Paid Employees	true	SharingOfPaidEmployees
Reimbursement Paid To Other Org	false	ReimbursementPaidToOtherOrg
Reimbursement Paid By Other Org	false	ReimbursementPaidByOtherOrg
Other Transfer To Other Org	false	OtherTransferToOtherOrg
Other Transfer From Other Org	false	OtherTransferFromOtherOrg

Transactions Related Orgs Table TransactionsRelatedOrgsTable

Name Of Other Organization NameOfOtherOrganization

Field	Value	IRS element (for citing)
Business Name Line1	PPMSC	BusinessNameLine1

Field	Value	IRS element (for citing)
Transaction Type	L	TransactionType
Amount Involved	774125	AmountInvolved

PANHANDLE-PLAINS STUDENT FINANCE: Form 990, tax year 2009

Return header ReturnHeader

Preparer Firm PreparerFirm

Preparer Firm Business Name PreparerFirmBusinessName

Preparer Firm US Address PreparerFirmUSAddress

Filer Filer

Name Name

US Address USAddress

Officer Officer

Preparer Preparer

Form 990 IRS990

Address Principal Officer US AddressPrincipalOfficerUS

The Books Are In Care Of TheBooksAreInCareOf

Address US AddressUS

Form990 Part VII Section A Form990PartVIISectionA (10 entries)

Contractor Compensation ContractorCompensation

Name Of Contractor NameOfContractor

Name Business NameBusiness

Address Of Contractor AddressOfContractor

Address US AddressUS

Program Service Revenue ProgramServiceRevenue (3 entries)

Investment Income InvestmentIncome

Other Revenue Misc OtherRevenueMisc

Total Revenue TotalRevenue

Fees For Services Legal FeesForServicesLegal

Interest Interest

Other Expenses OtherExpenses (5 entries)

All Other Expenses AllOtherExpenses

Total Functional Expenses TotalFunctionalExpenses

Cash Non Interest Bearing CashNonInterestBearing

Savings And Temp Cash Investments SavingsAndTempCashInvestments

Accounts Receivable AccountsReceivable

Other Notes Loans Receivable Net OtherNotesLoansReceivableNet

Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges

Intangible Assets IntangibleAssets

Total Assets TotalAssets

Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses

Mort Notes Pybl Secured Invest Prop MortNotesPyblSecuredInvestProp

Other Liabilities OtherLiabilities

Total Liabilities TotalLiabilities

Unrestricted Net Assets UnrestrictedNetAssets

Temporarily Restricted Net Assets TemporarilyRestrictedNetAssets

Total Net Assets Fund Balances TotalNetAssetsFundBalances

Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances

Schedule A IRS990ScheduleA

Gross Receipts From Admissions GrossReceiptsFromAdmissions

Total509 Total509

Gross Investment Income509 GrossInvestmentIncome509

Investment Income And UBTI InvestmentIncomeAndUBTI

Other Income509 OtherIncome509

Total Support Total TotalSupportTotal

Schedule D IRS990ScheduleD

Other Liabilities OtherLiabilities (5 entries)

Schedule J IRS990ScheduleJ

Form990 Schedule J Part II Form990ScheduleJPartII (2 entries)

Schedule O IRS990ScheduleO

General Explanation GeneralExplanation (8 entries)

Schedule R IRS990ScheduleR

Form990 Schedule R Part II Form990ScheduleRPartII

Name Of Disregarded Entity NameOfDisregardedEntity

Address US AddressUS

Direct Controlling Entity Name DirectControllingEntityName

Form990 Schedule R Part IV Form990ScheduleRPartIV

Name Of Related Org NameOfRelatedOrg

Address US AddressUS

Direct Controlling Entity Name DirectControllingEntityName

Transactions Related Orgs Table TransactionsRelatedOrgsTable

Name Of Other Organization NameOfOtherOrganization

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