BRAZOS HIGHER EDUCATION SERVICE CORPORATION INC: Form 990, tax year 2023
View the entire original 990 at ProPublica ↗
- Organization
- BRAZOS HIGHER EDUCATION SERVICE CORPORATION INC (EIN 74-2129255)
- Tax period
- 2023-07-01 to 2024-06-30
- Filed
- 2025-05-13
- IRS object ID
- 202511339349303571
- Schema version
- 2023v6.0
- 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 ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2025-05-13T12:27:11+00:00 | ReturnTs |
| Tax Period End | 2024-06-30 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 440160260 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Forvis Mazars LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 14221 Dallas Parkway Suite 400 | AddressLine1Txt |
| City | Dallas | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 75254 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2023-07-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 742129255 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Brazos Higher Education Service Corporation Inc | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | BRAZ | BusinessNameControlTxt |
| Phone | 2547530915 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 5609 Crosslake Pkwy | AddressLine1Txt |
| City | Waco | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 76712 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | RICKY TURMAN | PersonNm |
| Person Title | EVP/COO/CFO | PersonTitleTxt |
| Signature | 2025-05-13 | SignatureDt |
| Discuss With Paid Preparer | Yes (true) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | Jeanette Verrelli | PreparerPersonNm |
| PTIN | P00742631 | PTIN |
| Phone | 9727028262 | PhoneNum |
| Preparation | 2025-05-15 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2023 | TaxYr |
| Build TS | 2025-03-06 01:10:19Z | BuildTS |
Form 990 IRS990
Doing Business As Name DoingBusinessAsName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Brazos Higher Education | BusinessNameLine1Txt |
Principal Ofcr Business Name PrincipalOfcrBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RICKY TURMAN | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 5609 Crosslake Pkwy | AddressLine1Txt |
| City | Waco | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 76712 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $19,156,221 | GrossReceiptsAmt |
| Group Return For Affiliates | false | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | WWW.STUDENTLOANS.COM | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1980 | FormationYr |
| Legal Domicile State | TX | LegalDomicileStateCd |
| Activity Or Mission | BRAZOS HIGHER EDUCATION SERVICE CORPORATION, INC.'S MISSION IS TO MAKE EDUCATION A REALITY BY SUPPORTING PROGRAMS & INITIATIVES TO FINANCE EDUCATIONAL OPPORTUNITIES | ActivityOrMissionDesc |
| Voting Members Governing Body | 9 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 6 | VotingMembersIndependentCnt |
| Total Employee | 30 | TotalEmployeeCnt |
| Total Volunteers | 7 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $9,508,446 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $17,936,114 | CYProgramServiceRevenueAmt |
| PY Investment Income | $6,791,655 | PYInvestmentIncomeAmt |
| CY Investment Income | $1,198,032 | CYInvestmentIncomeAmt |
| PY Other Revenue | $4,910 | PYOtherRevenueAmt |
| CY Other Revenue | $22,075 | CYOtherRevenueAmt |
| PY Total Revenue | $16,305,011 | PYTotalRevenueAmt |
| CY Total Revenue | $19,156,221 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $131,250 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $133,425 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $6,688,664 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $7,467,745 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $1,233,972 | PYOtherExpensesAmt |
| CY Other Expenses | $1,399,791 | CYOtherExpensesAmt |
| PY Total Expenses | $8,053,886 | PYTotalExpensesAmt |
| CY Total Expenses | $9,000,961 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $8,251,125 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $10,155,260 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $212,610,560 | TotalAssetsBOYAmt |
| Total Assets EOY | $277,854,175 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $10,209,963 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $9,287,630 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $202,400,597 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $268,566,545 | NetAssetsOrFundBalancesEOYAmt |
| Mission | BRAZOS HIGHER EDUCATION SERVICE CORPORATION, INC.'S MISSION IS TO MAKE EDUCATION A REALITY BY SUPPORTING PROGRAMS AND INITIATIVES TO FINANCE EDUCATIONAL OPPORTUNITIES. | MissionDesc |
| Significant New Program Srvc | false | SignificantNewProgramSrvcInd |
| Significant Change | false | SignificantChangeInd |
| Expense | $7,720,491 | ExpenseAmt |
| Grant | $133,425 | GrantAmt |
| Revenue | $17,958,189 | RevenueAmt |
| Desc | BRAZOS HIGHER EDUCATION SERVICE CORPORATION (BHESC) PROVIDES ADMINISTRATIVE AND MANAGEMENT SERVICES FOR AFFILIATED NON-PROFIT ENTITIES BY SERVING AS ADMINISTRATOR. THESE SERVICES INCLUDED ADMINISTERING STUDENT LOANS WITH OUTSTANDING PRINCIPAL IN EXCESS OF $1.9 BILLION UNDER THE FEDERAL FAMILY EDUCATION LOAN PROGRAM (FFELP), HEAL, TERI, AND VARIOUS OTHER ALTERNATIVE LOAN PROGRAMS. | Desc |
| Total Program Service Expenses | $7,720,491 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (true) | DescribedInSection501c3Ind |
| Schedule B Required | false | ScheduleBRequiredInd |
| Political Campaign Acty | false | PoliticalCampaignActyInd |
| Lobbying Activities | false | LobbyingActivitiesInd |
| Donor Advised Fund | false | DonorAdvisedFundInd |
| Conservation Easements | false | ConservationEasementsInd |
| Collections Of Art | false | CollectionsOfArtInd |
| Credit Counseling | false | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | false | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (true) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | false | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | false | ReportProgramRelatedInvstInd |
| Report Other Assets | Yes (true) | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (true) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (true) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | false | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (true) | ConsolidatedAuditFinclStmtInd |
| School Operating | false | SchoolOperatingInd |
| Foreign Office | false | ForeignOfficeInd |
| Foreign Activities | false | ForeignActivitiesInd |
| More Than5000 K To Org | false | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | false | MoreThan5000KToIndividualsInd |
| Professional Fundraising | false | ProfessionalFundraisingInd |
| Fundraising Activities | false | FundraisingActivitiesInd |
| Gaming Activities | false | GamingActivitiesInd |
| Operate Hospital | false | OperateHospitalInd |
| Grants To Organizations | Yes (true) | GrantsToOrganizationsInd |
| Grants To Individuals | false | GrantsToIndividualsInd |
| Schedule J Required | Yes (true) | ScheduleJRequiredInd |
| Tax Exempt Bonds | false | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | false | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | false | PYExcessBenefitTransInd |
| Loan Outstanding | false | LoanOutstandingInd |
| Grant To Related Person | false | GrantToRelatedPersonInd |
| Business Rln With Org Mem | false | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | false | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | false | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | false | DeductibleNonCashContriInd |
| Deductible Art Contribution | false | DeductibleArtContributionInd |
| Terminate Operations | false | TerminateOperationsInd |
| Partial Liquidation | false | PartialLiquidationInd |
| Disregarded Entity | false | DisregardedEntityInd |
| Related Entity | Yes (true) | RelatedEntityInd |
| Related Organization Ctrl Ent | Yes (true) | RelatedOrganizationCtrlEntInd |
| Transaction With Control Ent | Yes (true) | TransactionWithControlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | false | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | false | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (true) | ScheduleORequiredInd |
| IRP Document | 20 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (true) | BackupWthldComplianceInd |
| Employee | 30 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (true) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | false | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | false | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | false | TaxablePartyNotificationInd |
| Nondeductible Contributions | false | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | false | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | false | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | false | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | false | PayPremiumsPrsnlBnftCntrctInd |
| Indoor Tanning Services | false | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | false | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | false | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 9 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 6 | IndependentVotingMemberCnt |
| Family Or Business Rln | false | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | false | DelegationOfMgmtDutiesInd |
| Change To Org Documents | false | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | false | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | false | MembersOrStockholdersInd |
| Election Of Board Members | false | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | false | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (true) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (true) | MinutesOfCommitteesInd |
| Officer Mailing Address | false | OfficerMailingAddressInd |
| Local Chapters | false | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (true) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (true) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (true) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (true) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (true) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (true) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (true) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (true) | CompensationProcessOtherInd |
| Investment In Joint Venture | false | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RICKY TURMAN EVPCOOCFO | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 2547530915 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 5609 CROSSLAKE PKWY | AddressLine1Txt |
| City | WACO | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 76712 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (24 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Key EmployeeKeyEmployeeInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|---|---|
| KELLI UTTECH | |||||||||
| EVP/GENERAL COUNSEL | 30.0 | 10.0 | Yes (X) | Yes (X) | $398,669 | $0 | $78,893 | ||
| RICKY TURMAN | |||||||||
| EVP/COO/CFO | 29.0 | 11.0 | Yes (X) | Yes (X) | $620,836 | $0 | $94,644 | ||
| THOMAS BEN LITLE | |||||||||
| PRESIDENT/CEO | 29.0 | 11.0 | Yes (X) | Yes (X) | $749,347 | $0 | $79,508 | ||
| David Myers | |||||||||
| Director | 1.0 | 7.0 | Yes (X) | $0 | $0 | $0 | |||
| DR ANDY POPEJOY | |||||||||
| DIRECTOR | 1.0 | 7.0 | Yes (X) | $0 | $0 | $0 | |||
| DR TERRY MANESS | |||||||||
| DIRECTOR | 1.0 | 7.0 | Yes (X) | $0 | $0 | $0 | |||
| GRETA WATSON | |||||||||
| DIRECTOR | 1.0 | 7.0 | Yes (X) | $0 | $0 | $0 | |||
| JOHN PERRY | |||||||||
| DIRECTOR End: 02/24 | 1.0 | 7.0 | Yes (X) | $0 | $0 | $0 | |||
| ROBERT B CHAMBERS | |||||||||
| DIRECTOR | 1.0 | 7.0 | Yes (X) | $0 | $0 | $0 | |||
| STEVEN BOSTICK | |||||||||
| DIRECTOR | 1.0 | 7.0 | Yes (X) | $0 | $0 | $0 | |||
| ANDREW ELLIS | |||||||||
| VP HUMAN RESOURCES | 39.0 | 1.0 | Yes (X) | $308,125 | $0 | $75,458 | |||
| DARRELL BROOKS | |||||||||
| TREASURER | 30.0 | 10.0 | Yes (X) | $219,241 | $0 | $62,199 | |||
| NAN MACDONALD | |||||||||
| VP MARKETING | 39.0 | 1.0 | Yes (X) | $220,035 | $0 | $67,213 | |||
| RANDALL LARSON | |||||||||
| VP SALES | 39.0 | 1.0 | Yes (X) | $258,173 | $0 | $67,950 | |||
| SAMUEL REDDEN | |||||||||
| SVP/CIO End: 08/23 | 39.0 | 1.0 | Yes (X) | $488,496 | $0 | $60,667 | |||
| TAMMY HARRALSON | |||||||||
| VP/CONTROLLER | 30.0 | 10.0 | Yes (X) | $246,347 | $0 | $67,073 | |||
| TIFFANY JONES | |||||||||
| SECRETARY | 29.0 | 11.0 | Yes (X) | $102,795 | $0 | $29,339 | |||
| VICKY SMITH | |||||||||
| ASSISTANT SECRETARY End: 08/23 | 30.0 | 10.0 | Yes (X) | $98,799 | $0 | $23,691 | |||
| Debra Urias | |||||||||
| VP Student Lending Operations | 40.0 | 0.0 | $217,015 | $0 | $54,746 | Yes (X) | |||
| Christy Alleman | |||||||||
| IS Manager | 40.0 | 0.0 | $131,013 | $0 | $31,945 | Yes (X) | |||
| Jessica Fadal | |||||||||
| Data Warehouse & Bus. Intel. Manager | 40.0 | 0.0 | $147,477 | $0 | $30,477 | Yes (X) | |||
| John M Wright | |||||||||
| Director Structured Finance | 40.0 | 0.0 | $256,724 | $0 | $72,425 | Yes (X) | |||
| Milicent Larson | |||||||||
| Executive Dir., Brazos Found. | 1.0 | 39.0 | $192,344 | $0 | $58,026 | Yes (X) | |||
| Sarah MacCarthy | |||||||||
| VP, Compliance End: 06/23 | 40.0 | 0.0 | $284,052 | $0 | $30,894 | Yes (X) | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $4,939,488 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $985,148 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 18 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | false | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (true) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | false | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp
Contractor Name ContractorName
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Forvis Mazars LLP | BusinessNameLine1Txt |
Contractor Address ContractorAddress
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 14221 Dallas Parkway Suite 400 | AddressLine1Txt |
| City | Dallas | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 75254 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Services | Audit and Tax | ServicesDesc |
| Compensation | $135,606 | CompensationAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 1 | CntrctRcvdGreaterThan100KCnt |
| Total Contributions | $0 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (4 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| Operating Income | 551114 | $7,645,481 | $7,645,481 |
| Beneficial Interest (M&O) | 551114 | $554,500 | $554,500 |
| Commission Income | 551114 | $243,602 | $243,602 |
| Interest Income - Bonds / Intercompany | 551114 | $9,492,531 | $9,492,531 |
Total Oth Program Service Rev TotalOthProgramServiceRevGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $17,936,114 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $1,198,032 | TotalRevenueColumnAmt |
| Exclusion | $1,198,032 | ExclusionAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $0 | RealAmt |
| Personal | $0 | PersonalAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $0 | SecuritiesAmt |
| Other | $0 | OtherAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contri Rpt Fundraising Event | $0 | ContriRptFundraisingEventAmt |
Other Revenue Misc OtherRevenueMiscGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| 3rd Party Marketing Fee Income | 551114 | $12,484 | $12,484 |
| Miscellaneous Revenue | 551114 | $9,591 | $9,591 |
Miscellaneous Revenue MiscellaneousRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $22,075 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $19,156,221 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $17,958,189 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $1,198,032 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $133,425 | TotalAmt |
| Program Services | $133,425 | ProgramServicesAmt |
Benefits To Members BenefitsToMembersGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
| Program Services | $0 | ProgramServicesAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,689,260 | TotalAmt |
| Program Services | $4,220,334 | ProgramServicesAmt |
| Management And General | $468,926 | ManagementAndGeneralAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,922,708 | TotalAmt |
| Program Services | $1,730,437 | ProgramServicesAmt |
| Management And General | $192,271 | ManagementAndGeneralAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $549,956 | TotalAmt |
| Program Services | $494,960 | ProgramServicesAmt |
| Management And General | $54,996 | ManagementAndGeneralAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $305,821 | TotalAmt |
| Program Services | $275,239 | ProgramServicesAmt |
| Management And General | $30,582 | ManagementAndGeneralAmt |
Fees For Services Management FeesForServicesManagementGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $10,238 | TotalAmt |
| Program Services | $9,214 | ProgramServicesAmt |
| Management And General | $1,024 | ManagementAndGeneralAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $165,760 | TotalAmt |
| Management And General | $165,760 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $138,045 | TotalAmt |
| Management And General | $138,045 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $133,998 | TotalAmt |
| Program Services | $0 | ProgramServicesAmt |
| Management And General | $133,998 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,061 | TotalAmt |
| Program Services | $3,061 | ProgramServicesAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $213,979 | TotalAmt |
| Program Services | $192,581 | ProgramServicesAmt |
| Management And General | $21,398 | ManagementAndGeneralAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $307,222 | TotalAmt |
| Program Services | $276,500 | ProgramServicesAmt |
| Management And General | $30,722 | ManagementAndGeneralAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $67,130 | TotalAmt |
| Program Services | $60,417 | ProgramServicesAmt |
| Management And General | $6,713 | ManagementAndGeneralAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $55,533 | TotalAmt |
| Program Services | $49,980 | ProgramServicesAmt |
| Management And General | $5,553 | ManagementAndGeneralAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $10,661 | TotalAmt |
| Program Services | $9,595 | ProgramServicesAmt |
| Management And General | $1,066 | ManagementAndGeneralAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $87,234 | TotalAmt |
| Program Services | $78,511 | ProgramServicesAmt |
| Management And General | $8,723 | ManagementAndGeneralAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $57,930 | TotalAmt |
| Program Services | $52,137 | ProgramServicesAmt |
| Management And General | $5,793 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp (3 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt |
|---|---|---|---|
| Bad Debt Expense | $81,483 | $73,335 | $8,148 |
| Administrative Expense | $48,976 | $44,078 | $4,898 |
| Special Event Expense | $11,331 | $10,198 | $1,133 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $7,210 | TotalAmt |
| Program Services | $6,489 | ProgramServicesAmt |
| Management And General | $721 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $9,000,961 | TotalAmt |
| Program Services | $7,720,491 | ProgramServicesAmt |
| Management And General | $1,280,470 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,319,127 | BOYAmt |
| EOY | $5,448,392 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,435,181 | BOYAmt |
| EOY | $0 | EOYAmt |
Pledges And Grants Receivable PledgesAndGrantsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $62,543 | BOYAmt |
| EOY | $89,641 | EOYAmt |
Receivables From Officers Etc ReceivablesFromOfficersEtcGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $0 | EOYAmt |
Rcvbl From Disqualified Prsn RcvblFromDisqualifiedPrsnGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
Inventories For Sale Or Use InventoriesForSaleOrUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $14,049 | BOYAmt |
| EOY | $22,214 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $2,781,361 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $235,563 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,633,032 | BOYAmt |
| EOY | $2,545,798 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $152,143,540 | BOYAmt |
| EOY | $205,116,979 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $81,483 | BOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
Intangible Assets IntangibleAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $43,921,605 | BOYAmt |
| EOY | $64,631,151 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $212,610,560 | BOYAmt |
| EOY | $277,854,175 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,833,704 | BOYAmt |
| EOY | $606,760 | EOYAmt |
Grants Payable GrantsPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,889,685 | BOYAmt |
Tax Exempt Bond Liabilities TaxExemptBondLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
Escrow Account Liability EscrowAccountLiabilityGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
Loans From Officers Directors LoansFromOfficersDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
Unsecured Notes Loans Payable UnsecuredNotesLoansPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,486,574 | BOYAmt |
| EOY | $8,680,870 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $10,209,963 | BOYAmt |
| EOY | $9,287,630 | EOYAmt |
No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
Donor Restriction Net Assets DonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow FASB117 | Yes (X) | OrgDoesNotFollowFASB117Ind |
Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $202,400,597 | BOYAmt |
| EOY | $268,566,545 | EOYAmt |
Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $202,400,597 | BOYAmt |
| EOY | $268,566,545 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $212,610,560 | BOYAmt |
| EOY | $277,854,175 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $10,155,260 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | -$505,086 | NetUnrlzdGainsLossesInvstAmt |
| Prior Period Adjustments | $3 | PriorPeriodAdjustmentsAmt |
| Other Changes In Net Assets | $56,515,771 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | false | AccountantCompileOrReviewInd |
| FS Audited | Yes (true) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Consolidated Basis Fincl Stmt | Yes (X) | ConsolidatedBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | false | AuditCommitteeInd |
| Federal Grant Audit Required | false | FederalGrantAuditRequiredInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Supporting Organization509a3 | Yes (X) | SupportingOrganization509a3Ind |
| Supporting Org Type2 | Yes (X) | SupportingOrgType2Ind |
| Supported Organizations | 3 | SupportedOrganizationsCnt |
Supported Org Information SupportedOrgInformationGrp (3 entries)
| EINEIN | Organization TypeOrganizationTypeCd | Governing Document ListedGoverningDocumentListedInd | SupportSupportAmt | Other SupportOtherSupportAmt |
|---|---|---|---|---|
| Brazos Higher Education Authority Inc | ||||
| 742099402 | 9 | false | $0 | $0 |
| Brazos Education Loan Authority Inc | ||||
| 203868073 | 9 | false | $0 | $0 |
| Brazos Education Lending Corporation | ||||
| 203870081 | 9 | false | $0 | $0 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Supported Organizations Total | 3 | SupportedOrganizationsTotalCnt |
| Support Sum | $0 | SupportSumAmt |
| Other Support Sum | $0 | OtherSupportSumAmt |
Form990 Sch A Supporting Org Form990SchASupportingOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Listed By Name Governing Doc | false | ListedByNameGoverningDocInd |
| Suprt Org No IRS Determination | false | SuprtOrgNoIRSDeterminationInd |
| Supported Org Section C456 | false | SupportedOrgSectionC456Ind |
| Supported Org Not Organized US | false | SupportedOrgNotOrganizedUSInd |
| Organization Change Suprt Org | false | OrganizationChangeSuprtOrgInd |
| Support Non Supported Org | false | SupportNonSupportedOrgInd |
| Payment Substantial Contribtr | false | PaymentSubstantialContribtrInd |
| Loan Disqualified Person | false | LoanDisqualifiedPersonInd |
| Controlled Disqualified Prsn | false | ControlledDisqualifiedPrsnInd |
| Disqualified Prsn Controll Int | false | DisqualifiedPrsnControllIntInd |
| Disqualified Prsn Ownr Int | false | DisqualifiedPrsnOwnrIntInd |
| Excess Business Holdings Rules | false | ExcessBusinessHoldingsRulesInd |
| Contribution Controller | false | ContributionControllerInd |
| Contribution Family | false | ContributionFamilyInd |
| Contribution35 Controlled | false | Contribution35ControlledInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Majority Dir Trst Supported Org | false | MajorityDirTrstSupportedOrgInd |
Form990 Schedule A Part VI Form990ScheduleAPartVIGrp (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Schedule A, Part IV, Section A, Line 1 Supported Orgs Listed By Name | The supported organizations are designated by purpose. BHESC and its supported organizations are committed to providing financial assistance in the form of student loans to individuals pursuing higher education. This designation is based on the organizations shared mission to promote educational opportunities. THE Supported Organizations are: - BRAZOS HIGHER EDUCATION AUTHORITY, INC. (BHEA) - BRAZOS EDUCATION LOAN AUTHORITY (BELA) - BRAZOS EDUCATION LENDING CORPORATION (BELC) |
| Schedule A, Part IV, Section C, Line 1 Majority director detail | As a Type II Supporting Organization, the supporting organization must be supervised or controlled by the persons supervising or controlling the supported organizations to ensure that the supporting organization is responsive to the needs and requirements of the supported organizations. The control or management of BHESC is vested in the same persons that control or manage the supported organizations. This is illustrated by the fact that the top two executives serve as officers of all the companies. These executives also have the decision-making power across all the companies. The President/CEO and the Executive VP-COO & CFO of BHESC serve in the same capacities for all companies although their titles may slightly differ among the organizations. The EVP-General Counsel and the Controller are also common across the companies. BHESC conducts and operates the business affairs of each student loan company shown below to carry out all aspects of a student loan program pursuant to: (i) exclusive administration agreements with each student loan company, (ii) common control with board overlap with each student loan company, (iii) common management (including the CEO and EVPs) with each student loan company, (iv) with respect to BHEA, the requirements of Chapter 53B of the Texas Education Code) (the Act) and (v) an extended course of dealing between these entities for several decades. The student loan companies are: - Brazos Higher Education Authority, Inc. (BHEA) - Brazos Education Loan Authority (BELA) - Brazos Education Lending Corporation (BELC) Under each exclusive administration agreement, BHESC performs all the duties necessary to manage and carry out the student loan program functions of that specific student loan company. These duties include but are not limited to: - Creating and maintaining the loan program guidelines, including the underwriting and eligibility criteria, the terms and conditions of the loans, and the interest rates; - Retaining outside services necessary to support the program, including a loan origination processor, repayment servicers, and collection agencies; - In fact, per state law, BHEA can only obtain these services by contracting with another nonprofit organization, which BHESC serves as this company - Arranging and managing financing for the student loan program, including all duties and responsibilities of the issuing student loan company under the indentures of trust. Under the administration agreements, BHESC also performs all the administrative services for each student loan company's existence as a nonprofit corporation including but not limited to the following: - providing, or causing to be provided, all clerical and bookkeeping services; - causing an annual audit to be obtained; - causing to be prepared documents, reports, tax returns or any other such forms as may be required; - preparing for adoption by each student loan company all reports, documents, agendas, resolutions and meeting notices necessary for each student loan company's Board of Directors and its committees to conduct meetings and business affairs Therefore, as reflected in the above discussion, BHESC's role is responsive to the needs and requirements of the supported student loan companies by providing support, management and oversight to all the student loan companies. |
Schedule D IRS990ScheduleD
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $535,000 | OtherCostOrOtherBasisAmt |
| Book Value | $535,000 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $2,002,098 | OtherCostOrOtherBasisAmt |
| Depreciation | $150,157 | DepreciationAmt |
| Book Value | $1,851,941 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $244,263 | OtherCostOrOtherBasisAmt |
| Depreciation | $85,406 | DepreciationAmt |
| Book Value | $158,857 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $2,545,798 | TotalBookValueLandBuildingsAmt |
Other Assets Org OtherAssetsOrgGrp (3 entries)
| DescDesc | Book ValueBookValueAmt |
|---|---|
| Accrued Investment Interest | $2,925,180 |
| Due from Affiliates | $57,974,914 |
| Cash Balance Plan Trust | $3,731,057 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Other Assets | $64,631,151 | TotalBookValueOtherAssetsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (2 entries)
| DescDesc | AmtAmt |
|---|---|
| Prefunded Benefit Payable | $4,949,813 |
| Cash Balance Plan Payable | $3,731,057 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $8,680,870 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote | FormAndLineReferenceDesc |
| Explanation | BHESC IS A NOT-FOR-PROFIT PUBLIC BENEFIT CORPORATION THAT IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(A) OF THE INTERNAL REVENUE CODE AS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3). THE COMPANY IS ALSO EXEMPT FROM STATE INCOME TAX. INCOME WHICH IS NOT RELATED TO ITS EXEMPT PURPOSES, LESS APPLICABLE DEDUCTIONS, IS SUBJECT TO FEDERAL INCOME TAXES. THE COMPANY HAD NO NET UNRELATED BUSINESS INCOME FOR THE YEARS ENDED JUNE 30, 2024 AND 2023. AS SUCH, NO PROVISION FOR FEDERAL OR STATE INCOME TAXES HAS BEEN PROVIDED IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS. THE COMPANY FILES FEDERAL INFORMATION RETURNS IN THE UNITED STATES. THE COMPANY MAY BE SUBJECT TO EXAMINATIONS FOR THE TAX YEARS ENDED JUNE 30, 2021 AND LATER BY THE INTERNAL REVENUE SERVICE. THE COMPANY IS NOT CURRENTLY UNDER EXAMINATION FOR ANY OPEN TAX YEAR. THE COMPANY FOLLOWS THE ACCOUNTING STANDARD RELATED TO THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. THE STANDARD PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. THE COMPANY CURRENTLY HAS NO UNCERTAIN TAX POSITIONS. | ExplanationTxt |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (true) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable (3 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Recipient EINRecipientEIN | IRC SectionIRCSectionDesc | Cash GrantCashGrantAmt | Purpose Of GrantPurposeOfGrantTxt |
|---|---|---|---|---|---|---|---|
| Texas State Technical College | |||||||
| 3801 Campus Drive | Waco | TX | 767051695 | 741646989 | GOVT | $25,000 | Contributions to Endowment |
| Baylor University | |||||||
| One Bear Place 97043 | Waco | TX | 767987043 | 741159753 | 501 (C) (3) | $50,000 | Contribution to Endowment |
| McLennan Community College Foundation | |||||||
| 1400 College Drive | Waco | TX | 76708 | 741541260 | 501 (C) (3) | $25,000 | Contribution to Endowment |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 3 | Total501c3OrgCnt |
| Total Other Org | 0 | TotalOtherOrgCnt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. | FormAndLineReferenceDesc |
| Explanation | THE ORGANIZATION PROVIDES DONATIONS TO OTHER CHARITABLE AND GOVERNMENTAL ORGANIZATIONS. THESE ARE SIMPLE CHARITABLE CONTRIBUTIONS TO THE OTHER ORGANIZATIONS, SO THERE IS NO NEED TO MONITOR THE USE OF THE FUNDS. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | Yes (true) | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | false | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | false | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | false | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | false | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | false | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | false | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | Yes (true) | AnyNonFixedPaymentsInd |
| Initial Contract Exception | false | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (15 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| KELLI UTTECH | ||||||||||||||
| EVP/GENERAL COUNSEL | $362,985 | $0 | $35,684 | $0 | $0 | $0 | $72,665 | $0 | $6,228 | $0 | $477,562 | $0 | $0 | $0 |
| THOMAS BEN LITLE | ||||||||||||||
| PRESIDENT/CEO | $684,179 | $0 | $64,393 | $0 | $775 | $0 | $74,379 | $0 | $5,129 | $0 | $828,855 | $0 | $0 | $0 |
| RICKY TURMAN | ||||||||||||||
| EVP/COO/CFO | $564,635 | $0 | $56,201 | $0 | $0 | $0 | $74,928 | $0 | $19,716 | $0 | $715,480 | $0 | $0 | $0 |
| SAMUEL REDDEN | ||||||||||||||
| SVP/CIO End: 08/23 | $174,041 | $0 | $25,234 | $0 | $289,221 | $0 | $50,568 | $0 | $10,099 | $0 | $549,163 | $0 | $0 | $0 |
| ANDREW ELLIS | ||||||||||||||
| VP HUMAN RESOURCES | $271,164 | $0 | $28,092 | $0 | $8,869 | $0 | $66,149 | $0 | $9,309 | $0 | $383,583 | $0 | $0 | $0 |
| RANDALL LARSON | ||||||||||||||
| VP SALES | $233,554 | $0 | $24,619 | $0 | $0 | $0 | $57,248 | $0 | $10,702 | $0 | $326,123 | $0 | $0 | $0 |
| TAMMY HARRALSON | ||||||||||||||
| VP/CONTROLLER | $222,782 | $0 | $23,565 | $0 | $0 | $0 | $54,937 | $0 | $12,136 | $0 | $313,420 | $0 | $0 | $0 |
| DARRELL BROOKS | ||||||||||||||
| TREASURER | $197,987 | $0 | $21,254 | $0 | $0 | $0 | $48,922 | $0 | $13,277 | $0 | $281,440 | $0 | $0 | $0 |
| NAN MACDONALD | ||||||||||||||
| VP MARKETING | $200,053 | $0 | $19,982 | $0 | $0 | $0 | $44,378 | $0 | $22,835 | $0 | $287,248 | $0 | $0 | $0 |
| Debra Urias | ||||||||||||||
| VP Student Lending Operations | $192,691 | $0 | $20,738 | $0 | $3,586 | $0 | $42,668 | $0 | $12,078 | $0 | $271,761 | $0 | $0 | $0 |
| Jessica Fadal | ||||||||||||||
| Data Warehouse & Bus. Intel. Manager | $123,243 | $0 | $14,575 | $0 | $9,659 | $0 | $24,379 | $0 | $6,098 | $0 | $177,954 | $0 | $0 | $0 |
| Christy Alleman | ||||||||||||||
| IS Manager | $110,378 | $0 | $13,833 | $0 | $6,802 | $0 | $21,070 | $0 | $10,875 | $0 | $162,958 | $0 | $0 | $0 |
| John M Wright | ||||||||||||||
| Director Structured Finance | $227,850 | $0 | $24,032 | $0 | $4,842 | $0 | $51,525 | $0 | $20,900 | $0 | $329,149 | $0 | $0 | $0 |
| Milicent Larson | ||||||||||||||
| Executive Dir., Brazos Found. | $172,833 | $0 | $19,511 | $0 | $0 | $0 | $38,837 | $0 | $19,189 | $0 | $250,370 | $0 | $0 | $0 |
| Sarah MacCarthy | ||||||||||||||
| VP, Compliance End: 06/23 | $94,688 | $0 | $17,065 | $0 | $172,299 | $0 | $26,757 | $0 | $4,137 | $0 | $314,946 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Schedule J, Part I, Line 4a Severance or change-of-control payment | BHESC HOLDS A SEVERANCE PAY PLAN TRUST FOR SEVERANCE PAYMENTS. THIS IS SET ASIDE FOR ANY POTENTIAL REDUCTION IN FORCE. IN ADDITION, ANY EMPLOYEE WHO PROVIDES A MINIMUM OF SIX MONTHS NOTICE OF RETIREMENT OR RESIGNATION IS ELIGIBLE FOR A SEVERANCE PAYMENT UPON COMPLETION OF THE SIX MONTH PERIOD OR LESS IF DETERMINED BY MANAGEMENT. THE FOLLOWING INDIVIDUALS RECEIVED A SEVERANCE PAYMENT: Samuel Redden- $272,520 VICKY SMITH - $37,785 SARAH MACCARTHY - $160,274 EACH OF THESE INDIVIDUALS RECEIVED A SEVERANCE PAYMENT DUE TO FULFILLING THE RETIREMENT/RESIGNATION REQUIREMENTS IN ACCORDANCE WITH THE SEVERANCE PAY PLAN. |
| Schedule J, Part I, Line 7 Non-fixed payments | WHILE PART OF THE BONUSES GIVEN TO EMPLOYEES ARE CALCULATED USING A FIXED FORMULA, THE OTHER PART OF THE BONUS IS CALCULATED BY A SET PERCENTAGE DETERMINED AT THE DISCRETION OF THE BOARD. |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (6 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Form 990, Part VI, Line 11b Review of form 990 by governing body | THE FORM 990 IS PROVIDED TO SENIOR MANAGEMENT FOR REVIEW. AFTER THIS REVIEW, THE RETURN IS POSTED ON A SECURE WEBSITE FOR REVIEW BY THE BOARD OF DIRECTORS. THE BOARD IS NOTIFIED OF THE POSTING AND ASKED TO PROVIDE COMMENTS OR QUESTIONS. COMMENTS OR QUESTIONS ARE INVESTIGATED AND RESOLVED OR DISCLOSED TO THE BOARD. UPON COMPLETION OF THE PROCESS, THE RETURN IS FILED. |
| Form 990, Part VI, Line 12c Conflict of interest policy | THE LEGAL DEPARTMENT PREPARES AND DISTRIBUTES A CONFLICT OF INTEREST QUESTIONNAIRE TO ALL BOARD MEMBERS AND EMPLOYEES ANNUALLY. THE LEGAL DEPARTMENT REVIEWS THE QUESTIONNAIRES AND COMPILES A LIST OF POTENTIAL CONFLICTS FOR REVIEW BY SENIOR MANAGEMENT AND THE BOARD OF DIRECTORS. POTENTIAL CONFLICTS ARE ASSESSED AND RESOLVED IF DETERMINED TO BE AT RISK. IF A BOARD MEMBER CONFLICT IS FOUND TO EXIST, THE CONFLICTED BOARD MEMBER ABSTAINS FROM VOTING. |
| Form 990, Part VI, Line 15a Process to establish compensation of top management official | BRAZOS HIGHER EDUCATION SERVICE CORPORATION'S BOARD OF DIRECTORS USES AN INDEPENDENT THIRD PARTY TO REVIEW THE COMPENSATION OF THE PRESIDENT AND OFFICERS. THE THIRD PARTY REVIEWS EACH ELEMENT OF COMPENSATION TO ENSURE IT IS IN COMPLIANCE WITH IRS GUIDELINES AS WELL AS PERFORMS COMPARABILITY STUDIES TO DETERMINE WHETHER SALARIES ARE REASONABLE. THE MOST RECENT REVIEW WAS CONDUCTED DURING JUNE OF 2023 BY AN INDEPENDENT CONSULTANT AND IS DOCUMENTED IN THE BOARD'S MEETING MINUTES. |
| Form 990, Part VI, Line 15b Process to establish compensation of other employees | BRAZOS HIGHER EDUCATION SERVICE CORPORATION'S BOARD OF DIRECTORS USES AN INDEPENDENT THIRD PARTY TO REVIEW THE COMPENSATION OF THE KEY EMPLOYEES. THE THIRD PARTY REVIEWS EACH ELEMENT OF COMPENSATION TO ENSURE IT IS IN COMPLIANCE WITH IRS GUIDELINES AS WELL AS PERFORMS COMPARABILITY STUDIES TO DETERMINE WHETHER SALARIES ARE REASONABLE. THE MOST RECENT REVIEW WAS CONDUCTED DURING JUNE OF 2023 BY AN INDEPENDENT CONSULTANT AND IS DOCUMENTED IN THE BOARD'S MEETING MINUTES. |
| Form 990, Part VI, Line 19 Required documents available to the public | THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. |
| Form 990, Part XI, Line 9 Other changes in net assets or fund balances | Estate Contribution - 56515771; |
Schedule R IRS990ScheduleR
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp (7 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Exempt Code SectionExemptCodeSectionTxt | Public Charity StatusPublicCharityStatusTxt | Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt | Controlled OrganizationControlledOrganizationInd |
|---|---|---|---|---|---|---|---|---|---|---|
| BOSQUE HIGHER EDUCATION AUTHORITY INC | ||||||||||
| 5609 CROSSLAKE PKWY | WACO | TX | 76712 | 742534099 | STUD LOANS | TX | 501(c)(3) | 10 | NA | Yes (true) |
| BRAZOS HIGHER EDUCATION AUTHORITY INC | ||||||||||
| 5609 CROSSLAKE PKWY | WACO | TX | 76712 | 742099402 | STUD LOANS | TX | 501(c)(3) | 10 | NA | Yes (true) |
| BRAZOS EDUCATION LOAN AUTHORITY INC | ||||||||||
| 5609 CROSSLAKE PKWY | WACO | TX | 76712 | 203868073 | STUD LOANS | TX | 501(c)(3) | 10 | NA | Yes (true) |
| BRAZOS STUDENT FINANCE CORPORATION | ||||||||||
| 5609 CROSSLAKE PKWY | WACO | TX | 76712 | 742356109 | STUD LOANS | TX | 501(c)(3) | 10 | NA | Yes (true) |
| BRAZOS EDUCATION FOUNDATION INC | ||||||||||
| 5609 CROSSLAKE PKWY | WACO | TX | 76712 | 264562436 | GRANT MAKING | TX | 501(c)(3) | 7 | BHESC | Yes (true) |
| BRAZOS EDUCATION LENDING CORPORATION | ||||||||||
| 5609 CROSSLAKE PKWY | WACO | TX | 76712 | 203870081 | STUD LOANS | TX | 501(c)(3) | 10 | NA | Yes (true) |
| FEDERATED STUDENT FINANCE CORPORATION | ||||||||||
| 5609 CROSSLAKE PKWY | WACO | TX | 76712 | 742536239 | STUD LOANS | TX | 501(c)(3) | 10 | NA | Yes (true) |
Id Related Org Txbl Corp Tr IdRelatedOrgTxblCorpTrGrp
Related Organization Name RelatedOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | BRAZOS ASSET CORPORATION (BAC) | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 5609 CROSSLAKE PKWY | AddressLine1Txt |
| City | WACO | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 76712 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 300835799 | EIN |
| Primary Activities | FINANCE TRANS INVOLVING CREATION/LIQUIDATION/OWNERSHIP OF FINANCIAL ASSETS | PrimaryActivitiesTxt |
| Legal Domicile State | TX | LegalDomicileStateCd |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | BRAZOS HIGHER EDUCATION SERVICE CORPORATION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Entity Type | C Corporation | EntityTypeTxt |
| Share Of Total Income | -$77,224 | ShareOfTotalIncomeAmt |
| Share Of EOY Assets | $0 | ShareOfEOYAssetsAmt |
| Ownership | 1.0000 | OwnershipPct |
| Controlled Organization | Yes (true) | ControlledOrganizationInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | Yes (true) | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | false | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | Yes (true) | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | Yes (true) | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | false | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | false | DivRelatedOrganizationInd |
| Asset Sale To Other Org | false | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | false | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | false | AssetExchangeInd |
| Rental Of Facilities To Oth Org | false | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | false | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | Yes (true) | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | false | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | false | SharingOfFacilitiesInd |
| Paid Employees Sharing | false | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | false | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | false | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | false | TransferToOtherOrgInd |
| Transfer From Other Org | false | TransferFromOtherOrgInd |
Transactions Related Org TransactionsRelatedOrgGrp (12 entries)
| Transaction TypeTransactionTypeTxt | InvolvedInvolvedAmt | Method Of Amount DeterminationMethodOfAmountDeterminationTxt |
|---|---|---|
| BRAZOS HIGHER EDUCATION AUTHORITY INC | ||
| L | $1,366,216 | CASH |
| BRAZOS STUDENT FINANCE CORPORATION | ||
| L | $499,564 | CASH |
| BRAZOS EDUCATION LOAN AUTHORITY INC | ||
| L | $5,547,600 | CASH |
| BOSQUE HIGHER EDUCATION AUTHORITY | ||
| L | $146,667 | CASH |
| BRAZOS EDUCATION LOAN AUTHORITY INC | ||
| C | $51,300,000 | CASH |
| BOSQUE HIGHER EDUCATION AUTHORITY INC | ||
| C | $1,030,000 | CASH |
| BRAZOS EDUCATION LOAN AUTHORITY | ||
| D | $20,178,100 | CASH |
| BRAZOS EDUCATION LENDING CORPORATION | ||
| D | $9,572,121 | CASH |
| BRAZOS HIGHER EDUCATION AUTHORITY INC | ||
| A | $400,000 | BOOK VALUE |
| BRAZOS STUDENT FINANCE CORPORATION | ||
| C | $4,185,771 | CASH |
| BRAZOS HIGHER EDUCATION AUTHORITY | ||
| D | $28,224,693 | FMV |
| Brazos Education Loan Authority Inc | ||
| A | $78,100 | Cash |