NEW MEXICO EDUCATIONAL ASSISTANCE FOUNDATION: Form 990, tax year 2020
View the entire original 990 at ProPublica ↗
- Organization
- NEW MEXICO EDUCATIONAL ASSISTANCE FOUNDATION (EIN 85-0291313)
- Tax period
- 2020-07-01 to 2021-06-30
- Filed
- 2022-05-16
- IRS object ID
- 202221369349314912
- Schema version
- 2020v4.1
- 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 B
- Schedule C
- Schedule D
- Schedule J
- Schedule K
- Schedule O
- Schedule R
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2022-05-16T17:55:24-04:00 | ReturnTs |
| Tax Period End | 2021-06-30 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 463916466 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Jaramillo Accounting Group LLC | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 4700 Lincoln Road NE | AddressLine1Txt |
| City | Albuquerque | CityNm |
| State Abbreviation | NM | StateAbbreviationCd |
| ZIP | 87109 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2020-07-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 850291313 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | NEW MEXICO EDUCATIONAL ASSISTANCE FOUNDATION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | NEWM | BusinessNameControlTxt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 27020 | AddressLine1Txt |
| City | ALBUQUERQUE | CityNm |
| State Abbreviation | NM | StateAbbreviationCd |
| ZIP | 871257020 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | TRACY ROWE | PersonNm |
| Person Title | ASSISTANT VP OF | PersonTitleTxt |
| Phone | 5057612063 | PhoneNum |
| Signature | 2022-05-13 | SignatureDt |
| Discuss With Paid Preparer | Yes (true) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | TRACY | PersonFirstNm |
| Person Last | ROWE | PersonLastNm |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | SCOTT ELIASON | PreparerPersonNm |
| PTIN | P02372673 | PTIN |
| Phone | 5053232035 | PhoneNum |
| Preparation | 2022-05-16 | PreparationDt |
Additional Filer Information AdditionalFilerInformation
Trusted Customer TrustedCustomerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trusted Customer | 0 | TrustedCustomerCd |
| OOB Security Verification | 00 | OOBSecurityVerificationCd |
| Authentication Assurance Level | AAL1 | AuthenticationAssuranceLevelCd |
| Identity Assurance Level | IAL1 | IdentityAssuranceLevelCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2020 | TaxYr |
| Build TS | 2022-09-23 18:48:47Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | BRAD ALLPASS | PrincipalOfficerNm |
| Gross Receipts | $13,989,676 | GrossReceiptsAmt |
| Group Return For Affiliates | false | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | WWW.NMEAF.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1981 | FormationYr |
| Legal Domicile State | NM | LegalDomicileStateCd |
| Activity Or Mission | 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. | ActivityOrMissionDesc |
| Voting Members Governing Body | 5 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 5 | VotingMembersIndependentCnt |
| Total Employee | 92 | TotalEmployeeCnt |
| Total Gross UBI | $1,008,994 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $2,451 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $3,000 | PYContributionsGrantsAmt |
| CY Contributions Grants | $17,402 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $19,367,047 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $13,933,601 | CYProgramServiceRevenueAmt |
| PY Investment Income | $585,241 | PYInvestmentIncomeAmt |
| CY Investment Income | $38,673 | CYInvestmentIncomeAmt |
| CY Other Revenue | $0 | CYOtherRevenueAmt |
| PY Total Revenue | $19,955,288 | PYTotalRevenueAmt |
| CY Total Revenue | $13,989,676 | CYTotalRevenueAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $5,538,249 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $5,356,020 | CYSalariesCompEmpBnftPaidAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $14,127,241 | PYOtherExpensesAmt |
| CY Other Expenses | $9,376,047 | CYOtherExpensesAmt |
| PY Total Expenses | $19,665,490 | PYTotalExpensesAmt |
| CY Total Expenses | $14,732,067 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $289,798 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | -$742,391 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $392,805,656 | TotalAssetsBOYAmt |
| Total Assets EOY | $354,396,919 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $288,418,878 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $251,197,379 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $104,386,778 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $103,199,540 | NetAssetsOrFundBalancesEOYAmt |
| Mission | 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. | MissionDesc |
| Significant New Program Srvc | false | SignificantNewProgramSrvcInd |
| Significant Change | false | SignificantChangeInd |
| Expense | $7,990,456 | ExpenseAmt |
| Revenue | $10,525,062 | RevenueAmt |
| Desc | 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 06/30/2021 WAS 53,641. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $1,249,344 | ExpenseAmt |
| Revenue | $1,249,344 | RevenueAmt |
| Desc | 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). | Desc |
Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $471,953 | ExpenseAmt |
| Revenue | $1,105,072 | RevenueAmt |
| Desc | DEFAULT FFELP COLLECTIONS: COLLECTING ON LOANS THAT WERE DEFAULTED IN THE FFELP PROGRAM. COUNSEL AND WORK WITH BORROWERS TO BRING THEM BACK INTO GOOD STANDING AND REHABILITATE THEIR LOANS WHENEVER POSSIBLE. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Expenses | $9,711,753 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (true) | DescribedInSection501c3Ind |
| Schedule B Required | Yes (true) | ScheduleBRequiredInd |
| Political Campaign Acty | false | PoliticalCampaignActyInd |
| Lobbying Activities | Yes (true) | LobbyingActivitiesInd |
| Subject To Proxy Tax | false | SubjectToProxyTaxInd |
| Donor Advised Fund | false | DonorAdvisedFundInd |
| Conservation Easements | false | ConservationEasementsInd |
| Collections Of Art | false | CollectionsOfArtInd |
| Credit Counseling | Yes (true) | 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 | false | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (true) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | false | 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 | false | GrantsToOrganizationsInd |
| Grants To Individuals | false | GrantsToIndividualsInd |
| Schedule J Required | Yes (true) | ScheduleJRequiredInd |
| Tax Exempt Bonds | Yes (true) | TaxExemptBondsInd |
| Invest Tax Exempt Bonds | false | InvestTaxExemptBondsInd |
| Escrow Account | false | EscrowAccountInd |
| On Behalf Of Issuer | false | OnBehalfOfIssuerInd |
| 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 | 4222 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | false | BackupWthldComplianceInd |
| Employee | 92 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (true) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | Yes (true) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (true) | Form990TFiledInd |
| 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 |
| Form8899 Filedind | false | Form8899Filedind |
| Form1098 C Filed | false | Form1098CFiledInd |
| 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 | 5 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 5 | 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 | Yes (true) | 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 | Yes (true) | InvestmentInJointVentureInd |
| Written Policy Or Procedure | Yes (true) | WrittenPolicyOrProcedureInd |
| States Where Copy Of Return Is Fld | NM | StatesWhereCopyOfReturnIsFldCd |
| Other Website | Yes (X) | OtherWebsiteInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | THE ORGANIZATION | PersonNm |
| Phone | 5057612063 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 27020 | AddressLine1Txt |
| City | Albuquerque | CityNm |
| State Abbreviation | NM | StateAbbreviationCd |
| ZIP | 871257020 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part VII | Yes (X) | InfoInScheduleOPartVIIInd |
Form990 Part VII Section A Form990PartVIISectionAGrp (11 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Highest Compensated EmployeeHighestCompensatedEmployeeInd | Key EmployeeKeyEmployeeInd | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd |
|---|---|---|---|---|---|---|---|---|---|
| BRAD ALLPASS | |||||||||
| PRESIDENT & CEO | 30.00 | 10.00 | Yes (X) | $193,089 | $0 | $16,064 | |||
| REGINALD STORMENT | |||||||||
| GENERAL COUNSEL | 30.00 | 10.00 | $155,922 | $0 | $27,216 | Yes (X) | |||
| GRACE TACKMAN | |||||||||
| VICE PRESIDENT ADMIN SERVICE | 10.00 | 30.00 | Yes (X) | $132,236 | $0 | $31,896 | |||
| ESTEVAN MARTINEZ | |||||||||
| ASST VICE PRESIDENT INFO TE | 10.00 | 30.00 | Yes (X) | $118,231 | $0 | $16,866 | |||
| LOIS FORT | |||||||||
| DIRECTOR OF OPERATIONS | 30.00 | 10.00 | $103,613 | $0 | $16,071 | Yes (X) | |||
| TRACY ROWE | |||||||||
| ASST VICE PRESIDENT OF FINAN | 30.00 | 10.00 | Yes (X) | $93,514 | $0 | $21,391 | |||
| PAULINE GARCIA | |||||||||
| DIRECTOR | 2.00 | 0.00 | $0 | $0 | $0 | Yes (X) | |||
| ALEX HEUBECK | |||||||||
| DIRECTOR | 2.00 | 0.00 | $0 | $0 | $0 | Yes (X) | |||
| GAVIN GILLETTE | |||||||||
| VICE CHAIR | 2.00 | 0.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | ||
| JULIE FILATOFF | |||||||||
| SECRETARYTREASURER | 2.00 | 0.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | ||
| DAN SALZWEDEL | |||||||||
| CHAIR | 2.00 | 0.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $796,605 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $129,504 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 5 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | false | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (true) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | false | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| AVTEX SOLUTIONS LLC | |||||
| PO BOX 856660 | Minneapolis | MN | 554856660 | TELEPHONE SYSTEM | $259,812 |
| IT1 SOURCE LLC | |||||
| PO BOX 35146 | Seattle | WA | 981245146 | COMPUTER SOFTWARE | $255,867 |
| DATAPRINT SERVICES LLC | |||||
| 5201 VENICE AVE NE SUITE E | Albuquerque | NM | 871132337 | OUSTIDE MAIL SERV | $248,617 |
| ONTARIO SYSTEMS | |||||
| 75 REMITTANCE DR SUITE 6100 | Chicago | IL | 606756100 | COMPUTER SOFTWARE | $103,667 |
| DELL MARKETING LP | |||||
| PO BOX 802816 | Chicago | IL | 606756100 | COMPUTER SOFTWARE | $100,319 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 5 | CntrctRcvdGreaterThan100KCnt |
| All Other Contributions | $17,402 | AllOtherContributionsAmt |
| Noncash Contributions | $11,650 | NoncashContributionsAmt |
| Total Contributions | $17,402 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (4 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt | ExclusionExclusionAmt |
|---|---|---|---|---|---|
| STUDENT LOAN INTEREST | 900099 | $15,712,314 | $15,712,314 | ||
| LATE AND LEGAL FEES | 900099 | -$10,814 | -$10,814 | ||
| SERVICE FEES | 900099 | $2,542,000 | $1,536,457 | $1,005,543 | |
| OTHER REVENUE | 900099 | $1,457,031 | $1,408,451 | $48,580 |
Total Oth Program Service Rev TotalOthProgramServiceRevGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -$5,766,930 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | -$5,766,930 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $13,933,601 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $38,673 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $35,222 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $3,451 | UnrelatedBusinessRevenueAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $13,989,676 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $12,914,700 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $1,008,994 | UnrelatedBusinessRevenueAmt |
| Exclusion | $48,580 | ExclusionAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $926,109 | TotalAmt |
| Program Services | $694,582 | ProgramServicesAmt |
| Management And General | $231,527 | ManagementAndGeneralAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,363,732 | TotalAmt |
| Program Services | $1,664,465 | ProgramServicesAmt |
| Management And General | $1,699,267 | ManagementAndGeneralAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $187,953 | TotalAmt |
| Program Services | $29,649 | ProgramServicesAmt |
| Management And General | $158,304 | ManagementAndGeneralAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $581,443 | TotalAmt |
| Program Services | $102,233 | ProgramServicesAmt |
| Management And General | $479,210 | ManagementAndGeneralAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $296,783 | TotalAmt |
| Program Services | $128,376 | ProgramServicesAmt |
| Management And General | $168,407 | ManagementAndGeneralAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $27,582 | TotalAmt |
| Management And General | $27,582 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $32,364 | TotalAmt |
| Program Services | $32,364 | ProgramServicesAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,119,240 | TotalAmt |
| Program Services | $445,383 | ProgramServicesAmt |
| Management And General | $673,857 | ManagementAndGeneralAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $10,272 | TotalAmt |
| Program Services | $9,627 | ProgramServicesAmt |
| Management And General | $645 | ManagementAndGeneralAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $283,426 | TotalAmt |
| Program Services | $237,554 | ProgramServicesAmt |
| Management And General | $45,872 | ManagementAndGeneralAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $685,778 | TotalAmt |
| Program Services | $24,262 | ProgramServicesAmt |
| Management And General | $661,516 | ManagementAndGeneralAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $218,204 | TotalAmt |
| Management And General | $218,204 | ManagementAndGeneralAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,659 | TotalAmt |
| Program Services | $575 | ProgramServicesAmt |
| Management And General | $2,084 | ManagementAndGeneralAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,401,203 | TotalAmt |
| Program Services | $4,401,203 | ProgramServicesAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $542,598 | TotalAmt |
| Management And General | $542,598 | ManagementAndGeneralAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $109,929 | TotalAmt |
| Program Services | $250 | ProgramServicesAmt |
| Management And General | $109,679 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp (3 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt |
|---|---|---|
| US DEPT OF EDUCATION FEES | $1,540,362 | $1,540,362 |
| TRUST EXPENSES | $266,866 | $266,866 |
| BAD DEBT EXPENSE | $134,002 | $134,002 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,562 | TotalAmt |
| Management And General | $1,562 | ManagementAndGeneralAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $14,732,067 | TotalAmt |
| Program Services | $9,711,753 | ProgramServicesAmt |
| Management And General | $5,020,314 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,200 | BOYAmt |
| EOY | $1,200 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,554,444 | BOYAmt |
| EOY | $6,201,782 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $435,692 | BOYAmt |
| EOY | $49,527 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $328,952,623 | BOYAmt |
| EOY | $305,278,304 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $984,366 | BOYAmt |
| EOY | $741,258 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $14,749,797 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $10,418,617 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,682,460 | BOYAmt |
| EOY | $4,331,180 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $535,529 | BOYAmt |
| EOY | $606,460 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $28,728,421 | BOYAmt |
| EOY | $16,890,534 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $20,930,921 | BOYAmt |
| EOY | $20,296,674 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $392,805,656 | BOYAmt |
| EOY | $354,396,919 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,180,143 | BOYAmt |
| EOY | $1,768,924 | EOYAmt |
Tax Exempt Bond Liabilities TaxExemptBondLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $186,134,000 | BOYAmt |
| EOY | $166,964,000 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $9,700,000 | BOYAmt |
| EOY | $16,149,525 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $90,404,735 | BOYAmt |
| EOY | $66,314,930 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $288,418,878 | BOYAmt |
| EOY | $251,197,379 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow FASB117 | Yes (X) | OrgDoesNotFollowFASB117Ind |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $104,386,778 | BOYAmt |
| EOY | $103,199,540 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $104,386,778 | BOYAmt |
| EOY | $103,199,540 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $392,805,656 | BOYAmt |
| EOY | $354,396,919 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | -$742,391 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | -$444,847 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $0 | 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) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (true) | AuditCommitteeInd |
| Federal Grant Audit Required | Yes (true) | FederalGrantAuditRequiredInd |
| Federal Grant Audit Performed | Yes (true) | FederalGrantAuditPerformedInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Publicly Supported Org509a2 | Yes (X) | PubliclySupportedOrg509a2Ind |
Gifts Grants Contris Rcvd509 GiftsGrantsContrisRcvd509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus1 Year | $3,000 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $17,402 | CurrentTaxYearAmt |
| Total | $20,402 | TotalAmt |
Gross Receipts Admissions GrossReceiptsAdmissionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $21,648,986 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $22,767,418 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $23,819,763 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $18,915,019 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $12,879,478 | CurrentTaxYearAmt |
| Total | $100,030,664 | TotalAmt |
Gross Receipts Non Unrlt Bus GrossReceiptsNonUnrltBusGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus1 Year | $83,823 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $48,580 | CurrentTaxYearAmt |
| Total | $132,403 | TotalAmt |
Total509 Total509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $21,648,986 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $22,767,418 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $23,819,763 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $19,001,842 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $12,945,460 | CurrentTaxYearAmt |
| Total | $100,183,469 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Support Total509 | $100,183,469 | PublicSupportTotal509Amt |
Gross Investment Income509 GrossInvestmentIncome509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $265,674 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $585,633 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $1,050,783 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $583,054 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $35,222 | CurrentTaxYearAmt |
| Total | $2,520,366 | TotalAmt |
Post1975 UBTI Post1975UBTIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus1 Year | $370,392 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $1,008,994 | CurrentTaxYearAmt |
| Total | $1,379,386 | TotalAmt |
Investment Income And UBTI InvestmentIncomeAndUBTIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $265,674 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $585,633 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $1,050,783 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $953,446 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $1,044,216 | CurrentTaxYearAmt |
| Total | $3,899,752 | TotalAmt |
Total Support Calendar Year TotalSupportCalendarYearGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $21,914,660 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $23,353,051 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $24,870,546 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $19,955,288 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $13,989,676 | CurrentTaxYearAmt |
| Total | $104,083,221 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Support CY509 | 0.96250 | PublicSupportCY509Pct |
| Public Support PY509 | 0.97250 | PublicSupportPY509Pct |
| Investment Income CY | 0.04000 | InvestmentIncomeCYPct |
| Investment Income PY | 0.03000 | InvestmentIncomePYPct |
| Thirty Thr Pct Suprt Tests CY509 | Yes (X) | ThirtyThrPctSuprtTestsCY509Ind |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
Schedule C IRS990ScheduleC
| Field | Value | IRS element (for citing) |
|---|---|---|
| Volunteers | false | VolunteersInd |
| Paid Staff Or Management | Yes (true) | PaidStaffOrManagementInd |
| Media Advertisements | false | MediaAdvertisementsInd |
| Mailings Members | false | MailingsMembersInd |
| Publications Or Broadcast | false | PublicationsOrBroadcastInd |
| Grants Other Organizations | false | GrantsOtherOrganizationsInd |
| Direct Contact Legislators | Yes (true) | DirectContactLegislatorsInd |
| Direct Contact Legislators | $10,486 | DirectContactLegislatorsAmt |
| Rallies Demonstrations | false | RalliesDemonstrationsInd |
| Other Activities | false | OtherActivitiesInd |
| Total Lobbying Expenditures | $10,486 | TotalLobbyingExpendituresAmt |
| Not Described Section501c3 | false | NotDescribedSection501c3Ind |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Activities to influence legislation (Part II-B, lines 1a - 1h) | FormAndLineReferenceDesc |
| Explanation | THEW NEW MEXICO EDUCATIONAL ASSISTANCE FOUNDATION IS A MEMBER OF THE EDUCATION FINANCE COUNCIL (EFC). EFC IS A NON-PROFIT TRADE ASSOCIATION THAT REPRESENTS STATE BASED LOAN SECONDARY MARKET ORGANIZATIONS, 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. | ExplanationTxt |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Agent Trustee Etc | false | AgentTrusteeEtcInd |
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $1,011,520 | OtherCostOrOtherBasisAmt |
| Book Value | $1,011,520 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $6,948,373 | OtherCostOrOtherBasisAmt |
| Depreciation | $4,098,812 | DepreciationAmt |
| Book Value | $2,849,561 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $2,626,847 | OtherCostOrOtherBasisAmt |
| Depreciation | $2,342,910 | DepreciationAmt |
| Book Value | $283,937 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $4,163,057 | OtherCostOrOtherBasisAmt |
| Depreciation | $3,976,895 | DepreciationAmt |
| Book Value | $186,162 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $4,331,180 | TotalBookValueLandBuildingsAmt |
Other Securities OtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | COLLECTION RESOURCES INC | Desc |
| Book Value | $606,460 | BookValueAmt |
| Method Valuation | F | MethodValuationCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Securities | $606,460 | TotalBookValueSecuritiesAmt |
Invst Program Related Org InvstProgramRelatedOrgGrp (2 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| TRUSTEE LOAN PROGRAM FUNDS | $16,890,317 | F |
| FIDELITY MONEY MARKET | $217 | F |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Program Rltd | $16,890,534 | TotalBookValueProgramRltdAmt |
Other Assets Org OtherAssetsOrgGrp (7 entries)
| DescDesc | Book ValueBookValueAmt |
|---|---|
| NET BORROWER INTEREST RECEIVABLE | $18,908,800 |
| NET LATE AND LEGAL FEES RECEIVABLE | $613,833 |
| INTEREST SUBSIDY RECEIVABLE | $170,605 |
| DERIVATIVE INSTRUMENT | $462,658 |
| NOTES RECEIVABLE - CRI | $127,047 |
| DUE FROM RELATED ORGANIZATIONS | $13,679 |
| INTEREST RECEIVABLE TRUST | $52 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Other Assets | $20,296,674 | TotalBookValueOtherAssetsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (4 entries)
| DescDesc | AmtAmt |
|---|---|
| TAXABLE BONDS OS | $64,037,550 |
| SPECIAL ALLOWANCE PAYABLE | $1,598,553 |
| OTHER DEFERRED GAIN | $624,033 |
| BOND PREMIUM | $54,794 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $66,314,930 | TotalLiabilityAmt |
| Total Rev Etc Audited Fincl Stmt | $13,544,829 | TotalRevEtcAuditedFinclStmtAmt |
| Net Unrealized Gains Invst | -$444,847 | NetUnrealizedGainsInvstAmt |
| Revenue Not Reported | -$444,847 | RevenueNotReportedAmt |
| Revenue Subtotal | $13,989,676 | RevenueSubtotalAmt |
| Total Revenue Per Form990 | $13,989,676 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $14,732,067 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Subtotal | $14,732,067 | ExpensesSubtotalAmt |
| Total Expenses Per Form990 | $14,732,067 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | General Explanation Attachment | FormAndLineReferenceDesc |
| Explanation | PART XI LINE NET UNREALIZED LOSSES:DECREASE IN FAIR MARKET VALUE OF DERIVATIVE INSTRUMENTS $(515,778)INCOME (LOSS) ON EQUITY METHOD INVESTMENT $70,931 | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Written Employment Contract | Yes (X) | WrittenEmploymentContractInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | false | 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 | false | AnyNonFixedPaymentsInd |
| Initial Contract Exception | false | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (3 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt |
|---|---|---|---|
| BRAD ALLPASS | |||
| PRESIDENT & CEO | $193,089 | $16,064 | $209,153 |
| GRACE TACKMAN | |||
| VICE PRESIDENT ADMIN SERVICE | $132,236 | $31,896 | $164,132 |
| REGINALD STORMENT | |||
| GENERAL COUNSEL | $155,922 | $27,216 | $183,138 |
Schedule K IRS990ScheduleK
Tax Exempt Bonds Issues TaxExemptBondsIssuesGrp (4 entries)
| Bond ReferenceBondReferenceCd | Bond Issuer EINBondIssuerEIN | CUSIPCUSIPNum | Bond IssuedBondIssuedDt | Issue PriceIssuePriceAmt | PurposePurposeDesc | DefeasedDefeasedInd | On Behalf Of IssuerOnBehalfOfIssuerInd | Pool FinancingPoolFinancingInd |
|---|---|---|---|---|---|---|---|---|
| NM EDUCATIONAL ASSIST FDN | ||||||||
| A | 850291313 | 647110FK6 | 2003-10-09 | $89,590,000 | EDUCATION LOAN BONDS | false | Yes (true) | false |
| NM EDUCATIONAL ASSIST FDN | ||||||||
| B | 850291313 | 647110FL4 | 2004-04-21 | $109,750,000 | EDUCATION LOAN BONDS | false | Yes (true) | false |
| NM EDUCATIONAL ASSIST FDN | ||||||||
| C | 850291313 | 647110DG7 | 2007-08-01 | $113,430,000 | EDUCATION LOAN BONDS | false | Yes (true) | false |
| NM EDUCATIONAL ASSIST FDN | ||||||||
| D | 850291313 | 647110FC4 | 2010-09-22 | $198,700,000 | EDUCATION LOAN BONDS | false | Yes (true) | false |
Tax Exempt Bonds Proceeds TaxExemptBondsProceedsGrp (4 entries)
| Bond ReferenceBondReferenceCd | RetiredRetiredAmt | Total ProceedsTotalProceedsAmt | In Reserve FundInReserveFundAmt | Issuance Costs From ProceedsIssuanceCostsFromProceedsAmt | Other Spent ProceedsOtherSpentProceedsAmt | Substantial CompletionSubstantialCompletionYr | Refunding Tax Exempt BondsRefundingTaxExemptBondsInd | Refunding Taxable BondsRefundingTaxableBondsInd | Final Allocation MadeFinalAllocationMadeInd | Adequate Books And Rec MaintAdequateBooksAndRecMaintInd |
|---|---|---|---|---|---|---|---|---|---|---|
| A | $79,590,000 | $92,765,233 | $279,000 | $632,743 | $91,533,490 | 2005 | Yes (true) | false | Yes (true) | Yes (true) |
| B | $98,100,000 | $112,043,642 | $1,097,500 | $652,945 | $110,293,197 | 2005 | Yes (true) | false | Yes (true) | Yes (true) |
| C | $74,030,000 | $114,329,058 | $882,556 | $110,293,197 | 2008 | false | false | Yes (true) | Yes (true) | |
| D | $151,640,000 | $197,817,887 | $750,000 | $1,385,558 | $196,682,329 | 2010 | Yes (true) | false | Yes (true) | Yes (true) |
Tax Exempt Bonds Private Bus Use TaxExemptBondsPrivateBusUseGrp (4 entries)
| Bond ReferenceBondReferenceCd | Owning Bond Financed PropertyOwningBondFinancedPropertyInd | Any Lease ArrangementsAnyLeaseArrangementsInd | Mgmt Contract Bond Fincd PropMgmtContractBondFincdPropInd | Any Research AgreementsAnyResearchAgreementsInd | Bond Iss Meet Prvt Sec Pymt TestBondIssMeetPrvtSecPymtTestInd | Change In Use Bond Financed PropChangeInUseBondFinancedPropInd | Procs Nonqualified Bond RemdtdProcsNonqualifiedBondRemdtdInd |
|---|---|---|---|---|---|---|---|
| A | false | false | false | false | false | false | Yes (true) |
| B | false | false | false | false | false | false | Yes (true) |
| C | false | false | false | false | false | false | Yes (true) |
| D | false | false | false | false | false | false | Yes (true) |
Tax Exempt Bonds Arbitrage TaxExemptBondsArbitrageGrp (4 entries)
| Bond ReferenceBondReferenceCd | Form8038 T FiledForm8038TFiledInd | No Rebate DueNoRebateDueInd | Variable Rate IssueVariableRateIssueInd | Hedge Identified In Bks And RecHedgeIdentifiedInBksAndRecInd | Gross Proceeds Invested In GICGrossProceedsInvestedInGICInd | Gross Proceeds InvestedGrossProceedsInvestedInd | Written Proc To Monitor ReqsWrittenProcToMonitorReqsInd | Term Of HedgeTermOfHedgePct | Superintegrated HedgeSuperintegratedHedgeInd | Hedge TerminatedHedgeTerminatedInd |
|---|---|---|---|---|---|---|---|---|---|---|
| (no name) | ||||||||||
| A | false | Yes (true) | Yes (true) | false | false | false | Yes (true) | |||
| (no name) | ||||||||||
| B | false | Yes (true) | Yes (true) | false | false | false | Yes (true) | |||
| (no name) | ||||||||||
| C | false | Yes (true) | Yes (true) | false | false | false | Yes (true) | |||
| ROYAL BANK OF CANADA | ||||||||||
| D | false | Yes (true) | Yes (true) | Yes (true) | false | false | Yes (true) | 11 | false | false |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | General Explanation Attachment | FormAndLineReferenceDesc |
| Explanation | SEE ADDITIONAL ATTACHED SCHEDULE K FOR DETAILS ON ADDITIONAL BONDS. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (8 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Member election for additional members Part VI line 7a | THERE IS ONE MEMBER OF THE BOARD THAT IS A REGENT. |
| Form 990 governing body review Part VI line 11 | THE 990 AND 990-T FORMS ARE PREPARED BY THE ACCOUNTING DEPARTMENT AND THEN REVIEWED BY THE VICE PRESIDENT OF FINANCE. THE 990 AND 990-T FORMS ARE THEN SUBMITTED TO THE INDEPENDENT ACCOUNTANTS FOR REVIEW AND INPUT. ANY NECESSARY CHANGES ARE MADE AND THE FORMS ARE 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 AND THE 990-T. |
| 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 VII response or note to any other line in Part VII | ADDITIONAL CLARIFICATION ON PART VII, SECTION A: MICHAEL NEMELKA WAS PRESIDENT OF NMEAF THROUGH JANUARY 31, 2020 AT WHICH TIME HE WAS REPLACED BY BRAD ALLPASS, THE FORMER VICE PRESIDENT OF FINANCE. |
| 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. |
Schedule R IRS990ScheduleR
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp
Disregarded Entity Name DisregardedEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | NM STUDENT LOANS GUARANTEE CORP | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 7400 TIBURON NE | AddressLine1Txt |
| City | ALBUQUERQUE | CityNm |
| State Abbreviation | NM | StateAbbreviationCd |
| ZIP | 87109 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 850291314 | EIN |
| Primary Activities | FFELP STUDENT LOANS | PrimaryActivitiesTxt |
| Legal Domicile State | NM | LegalDomicileStateCd |
| Exempt Code Section | 501C3 | ExemptCodeSectionTxt |
| Public Charity Status | 10 | PublicCharityStatusTxt |
| Direct Controlling NA | N/A | DirectControllingNACd |
| Controlled Organization | false | ControlledOrganizationInd |
Id Related Org Txbl Corp Tr IdRelatedOrgTxblCorpTrGrp
Related Organization Name RelatedOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | COLLECTION RESOURCES INC | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 7400 TIBURON NE STE S | AddressLine1Txt |
| City | Albuquerque | CityNm |
| State Abbreviation | NM | StateAbbreviationCd |
| ZIP | 87109 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 831642784 | EIN |
| Primary Activities | DEBT COLLECTION | PrimaryActivitiesTxt |
| Legal Domicile State | NM | LegalDomicileStateCd |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | NMEAF | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Entity Type | C Corp | EntityTypeTxt |
| Share Of Total Income | $70,931 | ShareOfTotalIncomeAmt |
| Share Of EOY Assets | $1,017,144 | ShareOfEOYAssetsAmt |
| Ownership | 1.00000 | OwnershipPct |
| Controlled Organization | Yes (true) | ControlledOrganizationInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | false | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | false | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | false | 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 | Yes (true) | AssetExchangeInd |
| Rental Of Facilities To Oth Org | Yes (true) | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | false | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | false | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | false | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | false | SharingOfFacilitiesInd |
| Paid Employees Sharing | Yes (true) | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | false | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | Yes (true) | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | false | TransferToOtherOrgInd |
| Transfer From Other Org | false | TransferFromOtherOrgInd |
Transactions Related Org TransactionsRelatedOrgGrp (7 entries)
| Transaction TypeTransactionTypeTxt | InvolvedInvolvedAmt | Method Of Amount DeterminationMethodOfAmountDeterminationTxt |
|---|---|---|
| NM STUDENT LOAN GUARANTEE CORP | ||
| j | $168,633 | LEASE AGREEMENT |
| NM STUDENT LOAN GUARANTEE CORP | ||
| l | $2,332,345 | CONTRACT |
| NM STUDENT LOAN GUARANTEE CORP | ||
| q | $605,137 | AS INCURRED |
| COLLECTION RESOURCES INC | ||
| d | $2,927 | INTEREST ON NOTE |
| COLLECTION RESOURCES INC | ||
| d | $107,510 | DEBT REPAYMENTS |
| COLLECTION RESOURCES INC | ||
| o | $113,668 | SHARING OF EMPLOYEES |
| COLLECTION RESOURCES INC | ||
| q | $106,457 | REIMB - NON-SHARED EMPLOYEE OTH EXP |