2026-05-15T13:59:49-04:00 2025-06-30 463916466 Jaramillo Accounting Group LLC 4700 Lincoln Road NE Albuquerque NM 87109 990 2024-07-01 850291313 NEW MEXICO EDUCATIONAL ASSISTANCE FOUNDATION % TRACY ROWE NEWM 5057612063 PO BOX 27020 ALBUQUERQUE NM 871257020 TRACY ROWE VP OF FINANCE 5057612063 2026-05-15 true true SCOTT ELIASON P02372673 5053232035 2026-05-15 2024 2025-03-06 01:10:19Z BRAD ALLPASS PO BOX 27020 ALBUQUERQUE NM 871257020 23138887 false X WWW.NMEAF.ORG X 1981 NM PROMOTE THE PUBLIC WELFARE AND PROSPERITY OF THE PEOPLE OF NEW MEXICO BY STIMULATING THE AVAILABILITY OF FINANCIAL ASSISTANCE FOR POST-SECONDARY EDUCATION SO AS TO GIVE GREATER HIGHER EDUCATION OPPORTUNITY. 5 5 58 33 15845 0 90637 1220860 16358751 11221859 1161728 1436962 0 17611116 13879681 0 0 4753008 4910599 0 0 7864814 6489402 12617822 11400001 4993294 2479680 243416067 203195497 132334272 89328157 111081795 113867340 X PROMOTE THE PUBLIC WELFARE AND PROSPERITY OF THE PEOPLE OF NEW MEXICO BY STIMULATING THE AVAILABILITY OF FINANCIAL ASSISTANCE FOR POST-SECONDARY EDUCATION SO AS TO GIVE GREATER HIGHER EDUCATION OPPORTUNITY. true false 3981600 9000617 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 06/30/2025 WAS 21,418. 1422042 1422042 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). 330895 228910 STUDENT LOAN PROGRAMS: PROVIDE OUTREACH EFFORTS TO ASSIST STUDENTS IN COMPLETING FAFSA FORMS AND ENCOURAGING GRADUATING SENIORS TO SEEK POST-SECONDARY EDUCATIONAL OPPORTUNITIES. 416547 215273 799200 FAFSA COMPLETION: THE FOUNDATION ASSISTED STUDENTS IN COMPLETING FASFA APPLICATIONS AND IN COLLECTING ON AR AND PERKINS ACCOUNTS FOR SCHOOLS. 416547 215273 799200 6151084 true false false true false false false false false false true false true true true false true false false false false false false false false false false false false true true false false false false false false false false false false false false false false false true true true false false true 2195 0 58 true true true false false false false false false false false false false false false false false false false X 5 5 false false false false false true false true true false false true true true true true true true true true true NM X X THE ORGANIZATION 5057612063 PO BOX 27020 Albuquerque NM 871257020 BRAD ALLPASS PRESIDENT & CEO 30.00 10.00 X X 210718 0 19251 GRACE TACKMAN VICE PRESIDENT ADMIN SERVICE 30.00 10.00 X 144790 0 32766 REGINALD STORMENT GENERAL COUNSEL 30.00 10.00 X 148237 0 26768 ESTEVAN MARTINEZ ASST VICE PRESIDENT INFO TECH 30.00 10.00 X 142246 0 18792 TRACY ROWE VICE PRESIDENT OF FINANCE 30.00 10.00 X 118968 0 24740 LOIS FORT DIRECTOR OF OPERATIONS 30.00 10.00 X 109433 0 16242 MICHAEL BANYAI SR NETWORKS SYSTEM ADMINISTRATOR 40.00 0.00 X 107264 0 9741 DEENA PIERCE CONTROLLER 40.00 0.00 X 101030 0 15970 KEVIN POWERS VICE CHAIR 2.00 0.00 X 0 0 0 MARSHA MAJORS DIRECTOR 2.00 0.00 X 0 0 0 LAURA M MONTOYA DIRECTOR 2.00 0.00 X 0 0 0 ROSENDA MINELLA SECRETARYTREASURER 2.00 0.00 X X 0 0 0 ALEX HEUBECK CHAIR 2.00 0.00 X X 0 0 0 1082686 0 164270 8 false true false DATAPRINT SERVICES VENICE AVE NE Albuquerque NM 87113 COMPUTER SOFTWARE 122635 1 1080309 140551 1220860 STUDENT LOAN INTEREST 900099 8153512 8153512 LATE AND LEGAL FEES 900099 -15826 -15826 SERVICE FEES 900099 1645969 1645969 OTHER REVENUE 900099 679260 130121 15845 533294 758944 758944 11221859 1121168 1121168 9575000 9259206 315794 315794 315794 0 13879681 12109682 15845 533294 843645 632734 210911 2924278 826480 2097798 323762 91504 232258 520561 147125 373436 298353 84323 214030 8375 8375 40844 40844 549302 242888 306414 184569 180753 3816 204944 127891 77053 585891 229575 356316 271472 271472 57123 27153 29970 2442823 2442823 918352 918352 148716 148716 US DEPT OF EDUCATION FEES 684269 684269 TRUST EXPENSES 46705 46705 BAD DEBT EXPENSE 346017 346017 11400001 6151084 5248917 0 1200 1000 22537926 19955200 431247 13968 151162747 133388660 370537 379594 17890586 12228625 6253183 5661961 2400752 3782730 44162780 25272420 16095695 14739964 243416067 203195497 2394756 2014352 109325000 68825000 20614516 18488805 132334272 89328157 X 111081795 113867340 111081795 113867340 243416067 203195497 2479680 305865 0 X false true X true true true X 17402 810536 16000 90637 1220860 2155435 12879478 12171610 16899742 16706922 12989754 71647506 48580 35668 40733 384988 533294 1043263 12945460 13017814 16956475 17182547 14743908 74846204 0 0 0 0 0 0 74846204 35222 68580 1747330 1176587 1121168 4148887 2451 202 2653 37673 68782 1747330 1176587 1121168 4151540 12983133 13086596 18703805 18359134 15865076 78997744 0.94740 0.95630 0.05000 0.04000 X false true false false false false true 11498 false false 11498 false Activities to influence legislation (Part II-B, lines 1a - 1h) THE NEW MEXICO EDUCATIONAL ASSISTANCE FOUNDATION IS A MEMBER OF THE EDUCATION FINANCE COUNCIL (EFC). EFC IS NON-PROFIT TRADE ASSOCIATION THAT REPRESENTS STATE-BASED STUDENT LOAN SECONDARY MARKET ORGANIZATION, INCLUDING SCHOLARSHIP FUNDING CORPORATIONS THROUGHOUT THE COUNTRY. THESE PUBLIC PURPOSE ORGANIZATIONS ARE DEDICATED TO THE SINGLE PURPOSE OF MAKING SURE STUDENTS CAN GET THE MONEY THEY NEED TO GO TO COLLEGE. THE PRESIDENT OF NEW MEXICO EDUCATIONAL ASSISTANCE FOUNDATION ALSO CALLS AND MEETS WITH THE NEW MEXICO STATE LEGISLATURE TO DETERMINE THE STATUS OF LOAN FUNDING IN THE STATE OF NEW MEXICO. 1011520 1011520 8647971 4827299 3820672 2836153 2580720 255433 5394942 4820606 574336 5661961 TRUSTEE LOAN PROGRAM FUNDS 25272203 F FIDELITY MONEY MARKET 217 F 25272420 NET BORROWER INTEREST RECEIVABLE 12261722 NET LATE AND LEGAL FEES RECEIVABLE 174314 INTEREST SUBSIDY RECEIVABLE 56525 LEASES RECEIVABLE 1455036 ACCOUNTS RECEIVABLE RELATED ORG 86124 SPECIAL ALLOWANCE RECEIVABLE 483509 INTEREST RECEIVABLE TRUST 211163 DUE FROM DEPARTMENT OF EDUCATION 11571 14739964 TAXABLE BONDS OS 10000000 ARBITRAGE PAYABLE 1105749 EXCESS EARNINGS 2736399 OTHER DEFERRED GAIN 1301022 BOND PREMIUM 3342797 BOND DISCOUNT -440978 LEASE LIABILITY 396479 COMPENSATED ABSENCES 47337 18488805 14185546 305865 305865 13879681 13879681 11400001 11400001 11400001 Other Explanation PART XI 2A: UNREALIZED GAINS ON TREASURY INVESTMENTS OF $105,846; UNREALIZED GAIN IN CRI OF $83,121; UNREALIZED GAIN IN CUBIT OF $9,531; UNREALIZED GAIN IN ALBUQUERQUE COMMUNITY ENDOWMENT OF $128,478; AND UNREALIZED LOSSES OF ($19,861) IN GREEN STREET AND ($1,250) IN CNM INGENUITY. X X X X false false false false false false false false false BRAD ALLPASS PRESIDENT & CEO 210718 14175 5076 229969 GRACE TACKMAN VICE PRESIDENT ADMIN SERVICE 144790 10831 21935 177556 ESTEVAN MARTINEZ ASST VICE PRESIDENT INFO TECH 142246 10291 8501 161038 REGINALD STORMENT GENERAL COUNSEL 148237 10917 15851 175005 A NM EDUCATIONAL ASSIST FDN 850291313 647110FU4 2021-12-08 173159440 EDUCATION LOAN BONDS false true false A 93575000 173159440 684250 1883770 170591420 2021 true true true true A false false false false false false true A false true false false false false true A true General Explanation Attachment SERIES 2021 ISSUER NAME: NEW MEXICO EDUCATIONAL ASSISTANCE FOUNDATION DATE THE REBATE COMPUTATION WAS PERFORMED: 05/01/2025 (ANNUAL COMPUTATION) SCHEDULE K - REFUNDING BOND A (2021) REFUNDED ALL OR PORTION OF BONDS: ISSUE DATES 08/1/2007; 09/22/2010; 12/15/2010; 5/8/2013; AND 12/15/2016. Member election for additional members Part VI line 7a THE NMEAF BOARD ELECTS NEW BOARD MEMBERS. Form 990 governing body review Part VI line 11 THE 990 IS PREPARED BY THE ACCOUNTING DEPARTMENT AND THEN REVIEWED BY THE VICE PRESIDENT OF FINANCE. THE 990 IS THEN SUBMITTED TO THE INDEPENDENT ACCOUNTANTS FOR REVIEW AND INPUT. ANY NECESSARY CHANGES ARE MADE AND THE FORM IS AGAIN REVIEWED BY THE VICE PRESIDENT OF FINANCE. WHEN COMPLETED, THE VICE PRESIDENT OF FINANCE SENDS COPIES TO THE MEMBERS OF THE GOVERNING BODY TO COMMENT. AFTER ALL COMMENTS ARE REVIEWED AND FINAL CHANGES ARE MADE, THE VICE PRESIDENT OF FINANCE WILL ALLOW THE INDEPENDENT ACCOUNTANT TO ELECTRONICALLY FILE THE FORM 990. Conflict of interest policy compliance Part VI line 12c TO GUARD AGAINST SITUATIONS INVOLVING A CONFLICT OF INTEREST, ALL DIRECTORS, OFFICERS, AND EMPLOYEES WILL RECEIVE A COPY OF THE 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 MEMBER 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. CEO executive director top management comp Part VI line 15a THE PRESIDENTS SALARY IS SET BY ANALYZING COMPETITORS SALARIES ANNUALLY. SURVEYS ARE CONDUCTED EACH YEAR TO ENSURE THAT THE PRESIDENTS SALARY IS REASONABLE. THE COMPENSATION IS DOCUMENTED IN THE MINUTES AND SUPPORTED BY A PERFORMANCE EVALUATION. EMPLOYEES SALARIES ARE SET BY ANALYZING COMPETITORS SALARIES ANNUALLY. THE COMPENSATION IS ENUMERATED BY AN APPROVED SALARY STRUCTURE WITHIN SET RANGES. DELIBERATIONS BY UPPER MANAGEMENT ARE DOCUMENTED WITH A PERFORMANCE EVALUATION. RAISE POOLS AND TOTAL SALARIES EXPENSE ARE REVIEWED AND APPROVED BY THE BOARD. Other officer or key employee compensation Part VI line 15b EMPLOYEES SALARIES ARE SET BY ANALYZING COMPETITORS SALARIES ANNUALLY. THE COMPENSATION IS ENUMERATED BY AN APPROVED SALARY STRUCTURE WITHIN SET RANGES. DELIBERATIONS BY UPPER MANAGEMENT ARE DOCUMENTED WITH A PERFORMANCE EVALUATION. RAISE POOLS AND TOTAL SALARIES EXPENSE ARE REVIEWED AND APPROVED BY THE BOARD. Governing documents etc available to public Part VI line 19 COPIES OF THE AUDITED FINANCIAL STATEMENTS AND NOTES ARE AVAILABLE UPON REQUEST. GOVERNING DOCUMENTS AND INTERNAL POLICIES ARE NOT MADE AVAILABLE TO THE PUBLIC AT THIS TIME. Part III response or note to any other line in Part III THE FOUNDATION ASSISTED STUDENTS IN COMPLETING FASFA APPLICATIONS AND IN COLLECTING ON AR AND PERKINS ACCOUNTS FOR SCHOOLS.(PART III, LINE 2) General explanation attachment FORM 990, PART IV, QUESTION 24B: TAX EXEMPT BONDS RELATING TO STUDENT LOANS DO NOT HAVE A TEMPORARY PERIOD. 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. 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. NM STUDENT LOANS GUARANTEE CORP 7400 TIBURON NE ALBUQUERQUE NM 87109 850291314 FFELP STUDENT LOANS NM 501C3 10 N/A false COLLECTION RESOURCES INC 650 MONTANA AVESTE J Las Cruces NM 880014294 831642784 DEBT COLLECTION NM NMEAF C Corp 83121 632063 1.00000 true false false false false false false false false false true false true true false true true true false false NM STUDENT LOAN GUARANTEE CORP j 146552 LEASE AGREEMENT NM STUDENT LOAN GUARANTEE CORP l 542691 CONTRACT NM STUDENT LOAN GUARANTEE CORP q 709575 EXPENSES INCURRED COLLECTION RESOURCES INC o 174724 SHARING OF EMPLOYEES