2020-07-01T16:51:33-05:00 2019-08-31 463602660 JOHNSON & SHELDON PLLC PO BOX 509 AMARILLO TX 791050509 990 2018-09-01 237025386 PANHANDLE-PLAINS HIGHER EDUCATION AUTHORITY INC PANH 8063244100 1303 23RD STREET CANYON TX 79015 ZACH BELL CFO 8063244100 2020-07-01 true RICHARD W BLANKENSHIP CPA P00172630 8063717661 2020-07-01 65.200.43.2 2020-07-01 16:51:33 CD P 24B2DD43030EBA64EAE85524960C203142207E95 24B2DD43030EBA64EAE85524960C203142207E95 2018 2021-01-29 14:40:06Z JIMMY PARKER 1303 23RD STREET CANYON TX 79015 37843785 false X WWW.PPHEA.ORG X 1979 TX PROVIDING FUNDS FOR THE PURCHASE OF STUDENT LOANS AT THE POST-SECONDARY LEVEL, AND TO PROVIDE PROCEDURES FOR THE SERVICING OF SUCH LOANS AS REQUIRED FOR CONTINUED PARTICIPATION IN THE FEDERAL FAMILY EDUCATION LOAN PROGRAM UNDER THE HIGHER EDUCATION ACT OF 1965. 11 11 0 0 0 42430574 36635572 814770 1208213 0 43245344 37843785 0 0 0 0 0 40672050 36164523 40672050 36164523 2573294 1679262 861859204 532567370 750529324 419558228 111329880 113009142 X PROVIDING FUNDS FOR THE PURCHASE OF STUDENT LOANS AT THE POST-SECONDARY LEVEL, AND TO PROVIDE PROCEDURES FOR THE SERVICING OF SUCH LOANS AS REQUIRED FOR CONTINUED PARTICIPATION IN THE FEDERAL FAMILY EDUCATION LOAN PROGRAM UNDER THE HIGHER EDUCATION ACT OF 1965. false true 35925122 36635572 PROVIDING FUNDS FOR THE PURCHASE OF STUDENT LOANS AT THE POST-SECONDARY LEVEL, AND TO PROVIDE PROCEDURES FOR THE SERVICING OF SUCH LOANS AS REQUIRED FOR CONTINUED PARTI- CIPATION IN THE FEDERAL FAMILY EDUCATION LOAN PROGRAM UNDER THE HIGHER EDUCATION ACT OF 1965. 35925122 true false false true false false false false false false false false false false true true true false false false false false false false false false false false false true true false false false false false false false false false false false false false false false true false false false true 1 0 0 false false false false false false false false false false false false X 11 11 false true false false false true true true true false false true true true true true false true true false X JIMMY PARKER 8063244100 1303 23RD ST CANYON TX 79015 X DR RON HINER DIRECTOR 2.00 X 0 0 0 DR KENNETH VAN DOREN DIRECTOR 2.00 X 0 0 0 TAMMY ROARK SEC/TREAS 2.00 2.00 X X 0 0 0 MICHAEL P RYAN DIRECTOR 2.00 2.00 X 0 0 0 DR RON MILLER PRESIDENT 2.00 X X 0 0 0 CAROLYN WATERS VICE PRESIDE 2.00 X X 0 0 0 LYNDA TINSLEY DIRECTOR 2.00 X 0 0 0 RITA CRADDOCK DIRECTOR 2.00 X 0 0 0 WOODY GILLILAND DIRECTOR 2.00 X 0 0 0 CATHRYN WRIGHT DIRECTOR 2.00 X 0 0 0 DR RONNY BARNES DIRECTOR 2.00 X 0 0 0 JIMMY PARKER EXECUTIVE DI 5.00 35.00 X 0 199108 31362 JOHN WRIGHT SENIOR VICE 20.00 20.00 X 0 170631 44975 ZACH BELL CFO 20.00 20.00 X 0 128676 37238 498415 113575 false true false PANHANDLE-PLAINS MGT & SERV CORP 1303 23RD ST CANYON TX 79015 LOAN/MGT/OPER 7596938 STATE STREET BANK ONE LINCOLN STREET BOSTON MA 02206 INTEREST EXPENS 6308728 2 STUDENT LOAN INTEREST-NET 522298 35435373 35435373 EXCESS EARNINGS LIABILITY ADJ 522298 753797 753797 OTHER 522298 446402 446402 36635572 1208213 1208213 37843785 36635572 1208213 220086 110043 110043 50000 25000 25000 105270 52635 52635 23133507 23133507 24000 24000 CONSOLIDATION FEES 4748746 4748746 MAINTENANCE & OPERATING F 3394572 3394572 LOAN SERVICING FEES 2224123 2224123 BOND TERMINATION FEES 794941 794941 1469278 1441555 27723 36164523 35925122 239401 0 7192640 18142247 65426390 28913109 22582863 15994571 766956944 472332499 1125 1125 2000000 -2300758 -2816181 861859204 532567370 5789555 2964120 21031138 17740710 280335000 49555000 459034462 362258000 -15660831 -12959602 750529324 419558228 X 12311009 12597436 99018871 100411706 111329880 113009142 861859204 532567370 1679262 X false true X true true true X X 1 CITY OF HEREFORD TX 750005575 6 true 0 0 1 0 true false false false false false false false false false false false false false false true false false false false false false false false false true 39000 39000 false SCHEDULE C, PART II-B, LINE 1 PPHEA PAID A THIRD PARTY CALLED COLUMBIA STRATEGIC COUNSEL (CSC) 3,250 PER MONTH FOR LOBBYING. THE CONTRACT COVERED SEPTEMBER 1, 2018 THROUGH AUGUST 31, 2019. CSC WORKED TO IDENTIFY, RECRUIT AND EDUCATE SELECT MEMBERS OF CONGRESS WHO SIT ON THE RELEVANT HOUSE AND SENATE COMMITTEES INCLUDING THE FINANCE/WAYS AND MEANS, APPROPRIATIONS AND EDUCATION AND KEY MEMBERS FROM THE STATE OF TEXAS. UNAMORTIZED ORIGINAL ISSUE DISCOUNT -12959602 -12959602 X 37843785 37843785 37843785 36164523 36164523 36164523 SCHEDULE D, PAGE 3, PART X THE AUTHORITY IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(A) AS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (THE CODE) AND HAS BEEN DETERMINED NOT TO BE A PRIVATE FOUNDATION UNDER SECTION 509(A) OF THE CODE. AS A RESULT, INCOME TAXES ARE NOT INCLUDED IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE AUTHORITY COMPLIES WITH FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) ACCOUNTING STANDARDS CODIFICATION (ASC) ASC TOPIC 740, ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES (TOPIC 740), WHICH ADDRESSES THE DETERMINATION OF WHETHER TAX BENEFITS CLAIMED OR EXPECTED TO BE CLAIMED ON A TAX RETURN SHOULD BE RECORDED IN THE FINANCIAL STATEMENTS. UNDER THIS GUIDANCE, THE AUTHORITY MAY RECOGNIZE THE TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE-LIKELY-THAN-NOT THAT THE TAX POSITION WILL BE SUSTAINED ON EXAMINATION BY TAXING AUTHORITIES, BASED ON THE TECHNICAL MERITS OF THE POSITION. THE TAX BENEFITS RECOGNIZED IN THE FINANCIAL STATEMENTS FROM SUCH POSITION ARE MEASURED BASED ON THE LARGEST BENEFIT THAT HAS A GREATER THAN 50% LIKELIHOOD OF BEING REALIZED UPON ULTIMATE SETTLEMENT. THE GUIDANCE ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES ALSO ADDRESSES DE- RECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES ON INCOME TAXES, AND ACCOUNTING IN INTERIM PERIODS. MANAGEMENT EVALUATED THE AUTHORITY'S TAX POSITIONS AND CONCLUDED THAT THE AUTHORITY HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THIS GUIDANCE. WITH FEW EXCEPTIONS, THE AUTHORITY IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY THE U.S. FEDERAL TAX AUTHORITIES FOR YEARS ENDING BEFORE AUGUST 31, 2016. false false false false false false false false false JIMMY PARKER EXECUTIVE DIRECTOR 179108 20000 16283 15079 230470 JOHN WRIGHT SENIOR VICE PRESIDEN 155631 15000 14148 30827 215606 ZACH BELL CFO 113676 15000 10334 26904 165914 SCHEDULE J, PART III PART I, LINE 3: SEE SCHEDULE O FOR DISCLOSURES RELATED TO COMPENSATION PROCESS BY RELATED ORGANIZATION, PANHANDLE-PLAINS MANAGEMENT & SERVICING CORPORATION. A PANHANDLE-PLAINS HIGHER EDUCATION AUTHORITY 237025386 698476EV6 2010-11-17 208200000 REFUNDING false true false A 158645000 219807571 315000 1667200 217808126 2010 true false true true A false false false false false false true A false false false true true false false false true A true SCHEDULE K - DATE REBATE COMPUTATION PERFORMED PANHANDLE-PLAINS HIGHER EDUCATION 06/27/19 SCHEDULE K - ADDITIONAL INFORMATION PANHANDLE-PLAINS HIGHER EDUCATION PAR I(F) BOND A REFUNDED BONDS' ISSUE DATES: 05/10/95, 04/10/97, 02/10/04, 12/16/05, 04/25/06, 02/28/07 TOTAL PROCEEDS IN PART II 3 DO NOT EQUAL THE TOTAL ISSUE PRICE IN PART I (E) DUE TO INVESTMENT EARNINGS. THE INFORMATION IS OBTAINED FROM THE ARBITRAGE CALCULATIONS. PART IV 2C - BOND A COMPUTATION DATE, 06/27/2019. FORM 990 - ORGANIZATION'S MISSION PROVIDING FUNDS FOR THE PURCHASE OF STUDENT LOANS AT THE POST-SECONDARY LEVEL, AND TO PROVIDE PROCEDURES FOR THE SERVICING OF SUCH LOANS AS REQUIRED FOR CONTINUED PARTICIPATION IN THE FEDERAL FAMILY EDUCATION LOAN PROGRAM UNDER THE HIGHER EDUCATION ACT OF 1965. FORM 990, PAGE 2, PART III, LINE 3 DURING AUGUST 2019, MANAGEMENT AND THE BOARD OF THE AUTHORITY MERGED PANHANDLE-PLAINS STUDENT FINANCE CORPORATION (A 501(C)(3) TAX-EXEMPT ENTITY AND RELATED PARTY ENTITY THROUGH COMMON MANAGEMENT) INTO THE AUTHORITY. UNDER THIS MERGER, THE MAJORITY OF THE ASSETS AND LIABILITIES OF THE STUDENT FINANCE CORPORATION WERE ABSORBED BY THE AUTHORITY AS OF AUGUST 31,2019, WITH THE REMAINING ASSETS AND LIABILITIES ABSORBED BY JANUARY 31, 2020. DURING 2020, MANAGEMENT AND THE BOARD OF THE AUTHORITY ALSO PLAN TO MERGE PANHANDLE-PLAINS MANAGEMENT AND SERVING CORPORATION (A 501(C)(3) TAX-EXEMPT ENTITY AND RELATED PARTY ENTITY) INTO THE AUTHORITY. THESE TWO SIGNIFICANT EVENTS WILL LEAVE THE AUTHORITY AS THE SURVIVING PANHANDLE- PLAINS ORGANIZATION, THEN THE AUTHORITY WILL CONVERT TO A PRIVATE FOUNDATION WITH THE PRIMARY MISSION TO INVEST ITS REMAINING FINANCIAL RESOURCES INTO PERPETUITY WITH ITS PRIMARY PROGRAM SERVICES TO AWARD SCHOLARSHIPS TO STUDENTS IN PURSUIT OF THEIR HIGHER EDUCATION GOALS AND GRANTS TO CERTAIN HIGHER EDUCATION ORGANIZATIONS. FORM 990, PAGE 6, PART VI, LINE 3 PANHANDLE PLAINS HIGHER EDUCATION AUTHORITY (PPHEA)HAS A CONTRACT WITH PANHANDLE-PLAINS MANAGEMENT & SERVICING CORPORATION (PPMSC) TO PROVIDE FOR SERVICING ADMINISTRATION. PPHEA HAS NO EMPLOYEES. THERE ARE TWO ELEMENTS IN THE FEES PAID -- SERVICING FEES AND ADMINISTRATIVE AND MAINTENANCE FEES (M&O). FORM 990, PAGE 6, PART VI, LINE 7A HEREFORD, TEXAS CITY COUNCIL ELECTS AND APPOINTS BOARD MEMBERS. FORM 990, PAGE 6, PART VI, LINE 7B HEREFORD, TEXAS CITY COUNCIL ELECTS AND APPOINTS BOARD MEMBERS. FORM 990, PAGE 6, PART VI, LINE 11B THE BOARD OF DIRECTORS OF THE PANHANDLE-PLAINS HIGHER EDUCATION AUTHORITY IS PROVIDED AN ELECTRONIC COPY OF THE FORM 990 ONE WEEK PRIOR TO FILING. THE DIRECTORS THEN HAVE A WEEK TO REVIEW AND GIVE COMMENTS BEFORE THE RETURN IS FILED WITH THE INTERNAL REVENUE SERVICE. FORM 990, PAGE 6, PART VI, LINE 12C THE BOARD MEMBERS OF PPHEA ARE REQUIRED TO UPDATE THEIR CONFLICT OF INTEREST STATEMENTS AT THE ANNUAL BOARD OF DIRECTORS MEETING. A RECORD OF THIS IS KEPT IN THE MINUTES OF THE BOARD MEETING. FORM 990, PAGE 6, PART VI, LINE 15A THE EXECUTIVE DIRECTOR AND OTHER PERSONNEL ARE EMPLOYEES OF PANHANDLE-PLAINS MANAGEMENT & SERVICING CORPORATION (PPMSC). THE SALARIES OF THESE INDIVIDUALS ARE ESTABLISHED BY PPMSC. FORM 990, PAGE 6, PART VI, LINE 15B THE EXECUTIVE DIRECTOR AND OTHER PERSONNEL ARE EMPLOYEES OF PANHANDLE-PLAINS MANAGEMENT & SERVICING CORPORATION (PPMSC). THE SALARIES OF THESE INDIVIDUALS ARE ESTABLISHED BY PPMSC. FORM 990, PAGE 6, PART VI, LINE 19 PPHEA'S ANNUAL AUDITED FINANCIAL STATEMENTS ARE AVAILABLE ON ITS WEBSITE. THE GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST. ARTICLES OF INCORPORATION AND PUBLIC DOCUMENTS ARE PUBLIC INFORMATION AND ARE AVAILABLE FROM THE SECRETARY OF STATE. FORM 990, PART VII SCHEDULE J, LINE 3 - QUESTIONS REGARDING COMPENSATION THE PPHEA BOARD DOES NOT APPROVE COMPENSATION OF THE EXECUTIVE DIRECTOR, BUT IT DOES APPROVE THE MANAGEMENT CONTRACT WITH PANHANDLE-PLAINS MANAGEMENT & SERVICING CORPORATION WHICH PAYS THE EXECUTIVE DIRECTOR/CEO'S COMPENSATION. PANHANDLE-PLAINS STUDENT FINANCE CORPORATION 1303 23RD STREET CANYON TX 79015 752059556 STUD LOANS TX 501C3 10 NA N/A false PANHANDLE-PLAINS MGT & SERV CORP 1303 23RD STREET CANYON TX 79015 455543346 STUD LOANS TX 501C3 12A N/A false false false false false false false false false false false false false true false false false false false false PANHANDLE-PLAINS MGT & SERV CORP M 5618694 MGMT & SERV CONTRACT