STRATEGY STUDIO / PUBLIC DATA EXPLORER

BRAZOS HIGHER EDUCATION AUTHORITY INC: Form 990, tax year 2010

View the entire original 990 at ProPublica ↗

Organization
BRAZOS HIGHER EDUCATION AUTHORITY INC (EIN 74-2099402)
Tax period
2010-07-01 to 2011-06-30
Filed
2012-05-11
IRS object ID
201211329349303051
Schema version
2010v3.7
Source
Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header ReturnHeader

FieldValueIRS element (for citing)
Timestamp2012-05-11T15:17:11-05:00Timestamp
Tax Period End Date2011-06-30TaxPeriodEndDate

Preparer Firm PreparerFirm

Preparer Firm Business Name PreparerFirmBusinessName

FieldValueIRS element (for citing)
Business Name Line1ERNST & YOUNG US LLPBusinessNameLine1

Preparer Firm US Address PreparerFirmUSAddress

FieldValueIRS element (for citing)
Address Line1401 CONGRESS SUITE 1800AddressLine1
CityAUSTINCity
StateTXState
ZIP Code78701ZIPCode
FieldValueIRS element (for citing)
Return Type990ReturnType
Tax Period Begin Date2010-07-01TaxPeriodBeginDate

Filer Filer

FieldValueIRS element (for citing)
EIN742099402EIN

Name Name

FieldValueIRS element (for citing)
Business Name Line1BRAZOS HIGHER EDUCATION AUTHORITY INCBusinessNameLine1
FieldValueIRS element (for citing)
Name ControlBRAZNameControl
Phone2547530915Phone

US Address USAddress

FieldValueIRS element (for citing)
Address Line1PO BOX 1308AddressLine1
CityWACOCity
StateTXState
ZIP Code76703ZIPCode

Officer Officer

FieldValueIRS element (for citing)
NameRicky TurmanName
Titleevp-cfoTitle
Date Signed2012-05-11DateSigned

Preparer Preparer

FieldValueIRS element (for citing)
Phone5124789881Phone
FieldValueIRS element (for citing)
Tax Year2010TaxYear
Build TS2016-02-24 21:20:13ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Name Of Principal Officer PersonRICKY TURMANNameOfPrincipalOfficerPerson

Address Principal Officer US AddressPrincipalOfficerUS

FieldValueIRS element (for citing)
Address Line12600 WASHINGTON AVENUEAddressLine1
CityWACOCity
StateTXState
ZIP Code76710ZIPCode
FieldValueIRS element (for citing)
Gross Receipts244097769GrossReceipts
Group Return For AffiliatesfalseGroupReturnForAffiliates
Organization501c3XOrganization501c3
Web Sitewww.brazos.us.comWebSite
Type Of Organization CorporationXTypeOfOrganizationCorporation
Year Formation1975YearFormation
State Legal DomicileTXStateLegalDomicile
Activity Or Mission DescriptionBrazos Higher Education Authority, Inc.'s mission is to make education a reality by supporting programs and initiatives to finance educational opportunities.ActivityOrMissionDescription
Nbr Voting Members Governing Body10NbrVotingMembersGoverningBody
Nbr Independent Voting Members10NbrIndependentVotingMembers
Total Nbr Employees0TotalNbrEmployees
Total Nbr Volunteers0TotalNbrVolunteers
Total Gross UBI0TotalGrossUBI
Net Unrelated Business Txbl Income0NetUnrelatedBusinessTxblIncome
Contributions Grants Prior Year0ContributionsGrantsPriorYear
Contributions Grants Current Year0ContributionsGrantsCurrentYear
Program Service Revenue Prior Year252197454ProgramServiceRevenuePriorYear
Program Service Revenue CY234050977ProgramServiceRevenueCY
Investment Income Prior Year2412252InvestmentIncomePriorYear
Investment Income Current Year9760253InvestmentIncomeCurrentYear
Other Revenue Prior Year0OtherRevenuePriorYear
Other Revenue Current Year286539OtherRevenueCurrentYear
Total Revenue Prior Year254609706TotalRevenuePriorYear
Total Revenue Current Year244097769TotalRevenueCurrentYear
Grants And Similar Amnts Prior Year0GrantsAndSimilarAmntsPriorYear
Grants And Similar Amnts CY0GrantsAndSimilarAmntsCY
Benefits Paid To Members Prior Year0BenefitsPaidToMembersPriorYear
Benefits Paid To Members CY0BenefitsPaidToMembersCY
Salaries Etc Prior Year0SalariesEtcPriorYear
Salaries Etc Current Year0SalariesEtcCurrentYear
Total Prof Fundrsng Exp Prior Year0TotalProfFundrsngExpPriorYear
Total Prof Fundrsng Exp CY0TotalProfFundrsngExpCY
Total Fundrsng Exp Current Year0TotalFundrsngExpCurrentYear
Other Expense Prior Year241240692OtherExpensePriorYear
Other Expenses Current Year242835291OtherExpensesCurrentYear
Total Expenses Prior Year241240692TotalExpensesPriorYear
Total Expenses Current Year242835291TotalExpensesCurrentYear
Revenues Less Expenses Prior Year13369014RevenuesLessExpensesPriorYear
Revenues Less Expenses CY1262478RevenuesLessExpensesCY
Total Assets BOY7909001784TotalAssetsBOY
Total Assets EOY8495044457TotalAssetsEOY
Total Liabilities BOY7834952049TotalLiabilitiesBOY
Total Liabilities EOY8418102563TotalLiabilitiesEOY
Net Assets Or Fund Balances BOY74049735NetAssetsOrFundBalancesBOY
Net Assets Or Fund Balances EOY76941894NetAssetsOrFundBalancesEOY
Mission DescriptionBrazos Higher Education Authority, Inc. is a secondary market of college student loans under the Federal Family Education Loan Program (FFELP). Brazos Higher Education Authority's mission is to make education a reality by supporting programs and initiatives to finance educational opportunities.MissionDescription
Significant New Program ServicesfalseSignificantNewProgramServices
Significant ChangefalseSignificantChange
Expense242835291Expense
Grants0Grants
Revenue234337516Revenue
DescriptionBrazos Higher Education Authority, Inc. serviced over 911,000 loans totaling over $8 billion under the Title IV Federal Family Education Loan Program (FFELP) program. This included over $1.8 billion of Stafford loans and $6.2 billion of Consolidation loans. These loans were funded through permanent financings.Description
Total Program Service Expense242835291TotalProgramServiceExpense
Described In501 C3trueDescribedIn501C3
Schedule B RequiredfalseScheduleBRequired
Political ActivitiesfalsePoliticalActivities
Lobbying ActivitiesfalseLobbyingActivities
Donor Advised FundsfalseDonorAdvisedFunds
Conservation EasementsfalseConservationEasements
Collections Of ArtfalseCollectionsOfArt
Credit CounselingfalseCreditCounseling
Term Or Permanent EndowmentsfalseTermOrPermanentEndowments
Report Land Bldg EquipfalseReportLandBldgEquip
Report Invest Oth SecuritiesfalseReportInvestOthSecurities
Report Prog Rel InvestfalseReportProgRelInvest
Report Other AssetsfalseReportOtherAssets
Report Other LiabilitiestrueReportOtherLiabilities
Report Fin48 FootnotetrueReportFin48Footnote
Independent Audit Financial StmttrueIndependentAuditFinancialStmt
Consolidated Audit Financial StmtfalseConsolidatedAuditFinancialStmt
SchoolfalseSchool
Foreign OfficefalseForeignOffice
Foreign ActivitiesfalseForeignActivities
More Than5000 K To OrganizationsfalseMoreThan5000KToOrganizations
More Than5000 K To IndividualsfalseMoreThan5000KToIndividuals
Professional FundraisingfalseProfessionalFundraising
Fundraising ActivitiesfalseFundraisingActivities
GamingfalseGaming
HospitalfalseHospital
Grants To OrganizationsfalseGrantsToOrganizations
Grants To IndividualsfalseGrantsToIndividuals
Schedule J RequiredtrueScheduleJRequired
Tax Exempt BondsfalseTaxExemptBonds
Excess Benefit TransactionfalseExcessBenefitTransaction
Prior Excess Benefit TransactionfalsePriorExcessBenefitTransaction
Loan To Officer Or DQPfalseLoanToOfficerOrDQP
Grant To Related PersonfalseGrantToRelatedPerson
Bsnss Rltnshp With OrganizationfalseBsnssRltnshpWithOrganization
Bsnss Rltnshp Thru Family MemberfalseBsnssRltnshpThruFamilyMember
Officer Entity With Bsnss RltnshpfalseOfficerEntityWithBsnssRltnshp
Deductible Non Cash ContributionsfalseDeductibleNonCashContributions
Deductible Contributions Of ArtfalseDeductibleContributionsOfArt
TerminatedfalseTerminated
Partial LiquidationfalsePartialLiquidation
Disregarded EntityfalseDisregardedEntity
Related EntitytrueRelatedEntity
Related Org Controlled EntitytrueRelatedOrgControlledEntity
Transaction Related EntitytrueTransactionRelatedEntity
Transfers To Exempt Non Chrtbl OrgfalseTransfersToExemptNonChrtblOrg
Activities Conducted PartnershipfalseActivitiesConductedPartnership
Schedule O RequiredtrueScheduleORequired
Number Forms Transmitted With10969NumberFormsTransmittedWith1096
Number W2 G Included0NumberW2GIncluded
Compliance With Backup WitholdingtrueComplianceWithBackupWitholding
Number Of Employees0NumberOfEmployees
Unrelated Business IncomefalseUnrelatedBusinessIncome
Foreign Financial AccountfalseForeignFinancialAccount
Prohibited Tax Shelter TransfalseProhibitedTaxShelterTrans
Taxable Party NotificationfalseTaxablePartyNotification
Non Deductible ContributionsfalseNonDeductibleContributions
Quid Pro Quo ContributionsfalseQuidProQuoContributions
Form8282 Property Disposed OffalseForm8282PropertyDisposedOf
Funds To Pay PremiumsfalseFundsToPayPremiums
Premiums PaidfalsePremiumsPaid
Indoor Tanning ServicesfalseIndoorTanningServices
Info In Schedule O Part VIXInfoInScheduleOPartVI
Nbr Voting Governing Body Members10NbrVotingGoverningBodyMembers
Number Independent Voting Members10NumberIndependentVotingMembers
Family Or Business RelationshiptrueFamilyOrBusinessRelationship
Delegation Of Management DutiestrueDelegationOfManagementDuties
Changes To Organizing DocsfalseChangesToOrganizingDocs
Material Diversion Or MisusefalseMaterialDiversionOrMisuse
Members Or StockholdersfalseMembersOrStockholders
Election Of Board MemberstrueElectionOfBoardMembers
Decisions Subject To ApprovaltrueDecisionsSubjectToApproval
Minutes Of Governing BodytrueMinutesOfGoverningBody
Minutes Of CommitteestrueMinutesOfCommittees
Officer Mailing AddressfalseOfficerMailingAddress
Local ChaptersfalseLocalChapters
Form990 Provided To Governing BodytrueForm990ProvidedToGoverningBody
Conflict Of Interest PolicytrueConflictOfInterestPolicy
Annual Disclosure Covered PersonstrueAnnualDisclosureCoveredPersons
Regular Monitoring EnforcementtrueRegularMonitoringEnforcement
Whistleblower PolicytrueWhistleblowerPolicy
Document Retention PolicytrueDocumentRetentionPolicy
Investment In Joint VenturefalseInvestmentInJointVenture
Upon RequestXUponRequest

The Books Are In Care Of TheBooksAreInCareOf

FieldValueIRS element (for citing)
Name PersonRICKY TURMAN CFO EVPNamePerson
Telephone Number2547530915TelephoneNumber

Address US AddressUS

FieldValueIRS element (for citing)
Address Line12600 Washington AvenueAddressLine1
CityWacoCity
StateTXState
ZIP Code76710ZIPCode

Form990 Part VII Section A Form990PartVIISectionA (21 entries)

TitleTitleAverage Hours Per WeekAverageHoursPerWeekIndividual Trustee Or DirectorIndividualTrusteeOrDirectorReportable Comp From OrganizationReportableCompFromOrganizationReportable Comp From Related OrgsReportableCompFromRelatedOrgsOther CompensationOtherCompensationOfficerOfficer
Bob Chambers
Director1.0X000
John Perry
Director1.0X000
Paul Marable Jr
Director1.0X08090
Mrs Joyce Packard
Vice President1.0X000
Wilton Lanning
Director1.0X000
David Smith Jr
President1.0X000
Larry Smith
Director1.0X08090
Dr Joseph Velez
Director1.0X000
Tom Chase
Director1.0X08240
John Hatchel
Director1.0X000
Murray Watson
President1.00106456853391X
David Horner
EVP/SPECIAL ASST TO PRESIDENT1.0040583949726X
Ricky Turman
EVP / CFO1.0046739136687X
Ray Rushing
Secretary1.0000X
James McInnis
Treasurer1.009895721740X
Susan Davis
Assistant Secretary1.006337814820X
Tammy Harralson
Controller/VP1.0018411134359X
Daniel Reyna
Internal Audit Director1.0013075922643X
Kelli Villarrial
Associate General Counsel1.0023922434810X
Thomas Litle
VP LEGAL AFFAIRS/INDEN OVRSGHT1.001285778710X
Janice White
Administration VP1.0017387420968X
FieldValueIRS element (for citing)
Total Reportable Comp From Org0TotalReportableCompFromOrg
Total Reportable Comp Frm Rltd Orgs2959120TotalReportableCompFrmRltdOrgs
Total Other Compensation297854TotalOtherCompensation
Number Individuals GT100 K0NumberIndividualsGT100K
Formers ListedfalseFormersListed
Total Comp GT150 KtrueTotalCompGT150K
Compensation From Other SourcesfalseCompensationFromOtherSources

Contractor Compensation ContractorCompensation (2 entries)

Address Line1AddressOfContractor/AddressUS/AddressLine1CityAddressOfContractor/AddressUS/CityStateAddressOfContractor/AddressUS/StateZIP CodeAddressOfContractor/AddressUS/ZIPCodeDescription Of ServicesDescriptionOfServicesCompensationCompensation
Wiley Rein LLP
1776 K Street NWWASHINGTONDC20006Accounting & tax scv500000
Avant Strategic Partners LP
10010 San Pedro Avenue Suite 520SAN ANTONIOTX78216legal185700
FieldValueIRS element (for citing)
Number Of Contractors GT100 K2NumberOfContractorsGT100K
Total Contributions0TotalContributions

Program Service Revenue ProgramServiceRevenue

FieldValueIRS element (for citing)
DescriptionYIELD ON STUDENT LOAN NOTES RECDescription
Business Code522294BusinessCode
Total Revenue Column234050977TotalRevenueColumn
Related Or Exempt Function Income234050977RelatedOrExemptFunctionIncome
FieldValueIRS element (for citing)
Total Program Service Revenue234050977TotalProgramServiceRevenue

Investment Income InvestmentIncome

FieldValueIRS element (for citing)
Total Revenue Column400317TotalRevenueColumn
Exclusion$400,317ExclusionAmount

Income From Invest Bond Proceeds IncomeFromInvestBondProceeds

FieldValueIRS element (for citing)
Total Revenue Column0TotalRevenueColumn

Royalties Revenue RoyaltiesRevenue

FieldValueIRS element (for citing)
Total Revenue Column0TotalRevenueColumn

Gross Amount Sales Assets GrossAmountSalesAssets

FieldValueIRS element (for citing)
Securities9359936Securities

Less Cost Oth Basis Sales Expenses LessCostOthBasisSalesExpenses

FieldValueIRS element (for citing)
Securities0Securities

Gain Or Loss GainOrLoss

FieldValueIRS element (for citing)
Securities9359936Securities

Net Gain Or Loss Investments NetGainOrLossInvestments

FieldValueIRS element (for citing)
Total Revenue Column9359936TotalRevenueColumn
Exclusion$9,359,936ExclusionAmount

Net Income From Fundraising Events NetIncomeFromFundraisingEvents

FieldValueIRS element (for citing)
Total Revenue Column0TotalRevenueColumn

Net Income From Gaming NetIncomeFromGaming

FieldValueIRS element (for citing)
Total Revenue Column0TotalRevenueColumn

Net Income Or Loss NetIncomeOrLoss

FieldValueIRS element (for citing)
Total Revenue Column0TotalRevenueColumn

Other Revenue Misc OtherRevenueMisc (3 entries)

DescriptionDescriptionBusiness CodeBusinessCodeTotal Revenue ColumnTotalRevenueColumnRelated Or Exempt Function IncomeRelatedOrExemptFunctionIncome
GIC TERMINATION PAYMENT522294127500127500
MBIA TERMINATION PAYMENT-BOND INSURANCE5222949990099900
WRITE OFF - DEFERRED BORROWER BENEFIT5222945862558625

Miscellaneous Revenue MiscellaneousRevenue

FieldValueIRS element (for citing)
Total Revenue Column514TotalRevenueColumn
Related Or Exempt Function Income514RelatedOrExemptFunctionIncome
FieldValueIRS element (for citing)
Total Other Revenue286539TotalOtherRevenue

Total Revenue TotalRevenue

FieldValueIRS element (for citing)
Total Revenue Column244097769TotalRevenueColumn
Related Or Exempt Function Income234337516RelatedOrExemptFunctionIncome
Exclusion$9,760,253ExclusionAmount

Grants To Domestic Orgs GrantsToDomesticOrgs

FieldValueIRS element (for citing)
Total0Total

Grants To Domestic Individuals GrantsToDomesticIndividuals

FieldValueIRS element (for citing)
Total0Total

Foreign Grants ForeignGrants

FieldValueIRS element (for citing)
Total0Total

Benefits To Members BenefitsToMembers

FieldValueIRS element (for citing)
Total0Total

Comp Current Officers Directors CompCurrentOfficersDirectors

FieldValueIRS element (for citing)
Total0Total

Comp Disqual Persons CompDisqualPersons

FieldValueIRS element (for citing)
Total0Total

Other Salaries And Wages OtherSalariesAndWages

FieldValueIRS element (for citing)
Total0Total

Pension Plan Contributions PensionPlanContributions

FieldValueIRS element (for citing)
Total0Total

Other Employee Benefits OtherEmployeeBenefits

FieldValueIRS element (for citing)
Total0Total

Payroll Taxes PayrollTaxes

FieldValueIRS element (for citing)
Total0Total

Fees For Services Management FeesForServicesManagement

FieldValueIRS element (for citing)
Total0Total

Fees For Services Legal FeesForServicesLegal

FieldValueIRS element (for citing)
Total36484Total
Program Services36484ProgramServices

Fees For Services Accounting FeesForServicesAccounting

FieldValueIRS element (for citing)
Total263410Total
Program Services263410ProgramServices

Fees For Services Lobbying FeesForServicesLobbying

FieldValueIRS element (for citing)
Total0Total

Fees For Services Prof Fundraising FeesForServicesProfFundraising

FieldValueIRS element (for citing)
Total0Total

Fees For Services Invst Mgmnt Fees FeesForServicesInvstMgmntFees

FieldValueIRS element (for citing)
Total0Total

Fees For Services Other FeesForServicesOther

FieldValueIRS element (for citing)
Total0Total

Advertising Advertising

FieldValueIRS element (for citing)
Total0Total

Office Expenses OfficeExpenses

FieldValueIRS element (for citing)
Total0Total

Information Technology InformationTechnology

FieldValueIRS element (for citing)
Total0Total

Royalties Royalties

FieldValueIRS element (for citing)
Total0Total

Occupancy Occupancy

FieldValueIRS element (for citing)
Total0Total

Travel Travel

FieldValueIRS element (for citing)
Total0Total

Travel Entrtnmnt Public Officials TravelEntrtnmntPublicOfficials

FieldValueIRS element (for citing)
Total0Total

Conferences Meetings ConferencesMeetings

FieldValueIRS element (for citing)
Total0Total

Interest Interest

FieldValueIRS element (for citing)
Total106553098Total
Program Services106553098ProgramServices

Payments To Affiliates PaymentsToAffiliates

FieldValueIRS element (for citing)
Total0Total

Depreciation Depletion DepreciationDepletion

FieldValueIRS element (for citing)
Total0Total

Insurance Insurance

FieldValueIRS element (for citing)
Total0Total

Other Expenses OtherExpenses (5 entries)

DescriptionDescriptionTotalTotalProgram ServicesProgramServices
DEPT OF EDUCATION FEES6177722761777227
AMORT OF LOAN PURCHASE FEES3817436438174364
Servicing expense1440673814406738
OPERATING EXPENSE1031047610310476
LOSS ON EARLY EXTINGUISHMENT55503755550375

All Other Expenses AllOtherExpenses

FieldValueIRS element (for citing)
Total5763119Total
Program Services5763119ProgramServices

Total Functional Expenses TotalFunctionalExpenses

FieldValueIRS element (for citing)
Total242835291Total
Program Services242835291ProgramServices
Management And General0ManagementAndGeneral
Fundraising0Fundraising

Cash Non Interest Bearing CashNonInterestBearing

FieldValueIRS element (for citing)
BOY1556481BOY
EOY221217EOY

Savings And Temp Cash Investments SavingsAndTempCashInvestments

FieldValueIRS element (for citing)
BOY185342441BOY
EOY167683978EOY

Accounts Receivable AccountsReceivable

FieldValueIRS element (for citing)
BOY0BOY
EOY142EOY

Other Notes Loans Receivable Net OtherNotesLoansReceivableNet

FieldValueIRS element (for citing)
BOY7589994173BOY
EOY8195433032EOY

Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges

FieldValueIRS element (for citing)
BOY114229BOY
EOY0EOY

Other Assets Total OtherAssetsTotal

FieldValueIRS element (for citing)
BOY131994460BOY
EOY131706088EOY

Total Assets TotalAssets

FieldValueIRS element (for citing)
BOY7909001784BOY
EOY8495044457EOY

Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses

FieldValueIRS element (for citing)
BOY14172899BOY
EOY11202093EOY

Tax Exempt Bond Liabilities TaxExemptBondLiabilities

FieldValueIRS element (for citing)
BOY612050000BOY
EOY0EOY

Mort Notes Pybl Secured Invest Prop MortNotesPyblSecuredInvestProp

FieldValueIRS element (for citing)
BOY7187178423BOY
EOY8394620179EOY

Other Liabilities OtherLiabilities

FieldValueIRS element (for citing)
BOY21550727BOY
EOY12280291EOY

Total Liabilities TotalLiabilities

FieldValueIRS element (for citing)
BOY7834952049BOY
EOY8418102563EOY
FieldValueIRS element (for citing)
Do Not Follow SFAS117XDoNotFollowSFAS117

Cap Stck Trst Prin Current Funds CapStckTrstPrinCurrentFunds

FieldValueIRS element (for citing)
BOY74049735BOY
EOY76941894EOY

Total Net Assets Fund Balances TotalNetAssetsFundBalances

FieldValueIRS element (for citing)
BOY74049735BOY
EOY76941894EOY

Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances

FieldValueIRS element (for citing)
BOY7909001784BOY
EOY8495044457EOY
FieldValueIRS element (for citing)
Info In Schedule O Part XIXInfoInScheduleOPartXI
Reconcilation Revenue Expenses1262478ReconcilationRevenueExpenses
Reconcilation Other Changes1629681ReconcilationOtherChanges
Method Of Accounting AccrualXMethodOfAccountingAccrual
Accountant Compile Or ReviewfalseAccountantCompileOrReview
FS AuditedtrueFSAudited
Audit CommitteetrueAuditCommittee
Financial Statement SeparateXFinancialStatementSeparate
Federal Grant Audit RequiredtrueFederalGrantAuditRequired
Federal Grant Audit PerformedtrueFederalGrantAuditPerformed

Schedule A IRS990ScheduleA

FieldValueIRS element (for citing)
Supporting Organization509a3XSupportingOrganization509a3
Supporting Org509a3 Type1XSupportingOrg509a3Type1
Certification CheckboxXCertificationCheckbox
Contrib By Controlling IndividualfalseContribByControllingIndividual
Contribution By Related PartyfalseContributionByRelatedParty
Contrib By35 Controlled EntityfalseContribBy35ControlledEntity

Supported Org Information SupportedOrgInformation

Name Name

FieldValueIRS element (for citing)
Business Name Line1City of Waco TexasBusinessNameLine1
FieldValueIRS element (for citing)
EIN746002468EIN
Type Of Organization06TypeOfOrganization
Listed In Governing DoctrueListedInGoverningDoc
Supported Organization NotifiedtrueSupportedOrganizationNotified
Organized In UStrueOrganizedInUS
Amount$0Amount
FieldValueIRS element (for citing)
Total Number Of Supported Orgs1TotalNumberOfSupportedOrgs
Sum Of Amounts0SumOfAmounts

Schedule D IRS990ScheduleD

FieldValueIRS element (for citing)
Art Public Exhibition AmtsArtPublicExhibitionAmts
Held Works Of Art AmtsHeldWorksOfArtAmts
LandLand
BuildingsBuildings
Leasehold ImprovementsLeaseholdImprovements
EquipmentEquipment
Other Land BuildingsOtherLandBuildings
Federal Income Tax Liability0FederalIncomeTaxLiability

Other Liabilities OtherLiabilities (2 entries)

DescriptionDescriptionAmountAmount
Payable to affiliate$89,500
Derivative liability$12,190,791
FieldValueIRS element (for citing)
Total Of Amounts12280291TotalOfAmounts
Total Revenue244097769TotalRevenue
Total Expenses242835291TotalExpenses
Excess Or Deficit For Year1262478ExcessOrDeficitForYear
Other$1,629,681OtherAmount
Total Adjustments1629681TotalAdjustments
Excess Or Deficit Per FS2892159ExcessOrDeficitPerFS
Tot Revenue Etc Audited Fincl Stmt144146178TotRevenueEtcAuditedFinclStmt
Revenue Subtotal144146178RevenueSubtotal
Other Revenues Not Included99951591OtherRevenuesNotIncluded
Revenue Not Rptd On Fin Stmt99951591RevenueNotRptdOnFinStmt
Total Revenue Per Form990244097769TotalRevenuePerForm990
Tot Expenses Etc Audited Fincl Stmt143383700TotExpensesEtcAuditedFinclStmt
Expenses Subtotal143383700ExpensesSubtotal
Other Expenses Not Included99451591OtherExpensesNotIncluded
Expenses Not Rptd On Fin Stmt99451591ExpensesNotRptdOnFinStmt
Total Expenses Per Form990242835291TotalExpensesPerForm990

Form990 Schedule D Part XIV Form990ScheduleDPartXIV (2 entries)

IdentifierIdentifierReturn ReferenceReturnReferenceExplanationExplanation
Reconciliation of Change in Net Assets from Form 990Part XI, Line 8Transfer from Affiliate - $1,629,681 Reconciliation of Revenue per Audited Financial Statements Part XII, Line 4b DEPT OF EDUCATION FEES - $61,777,227 AMORT OF LOAN PURCHASE FEES - $38,174,364 Total - $ 99,951,591 Reconciliation of Expenses per Audited Financial Statements Part XIII, Line 4b DEPT OF EDUCATION FEES - $61,777,227 AMORT OF LOAN PURCHASE FEES - $38,174,364 MBIA RELEASE PAYMENT ($500,000) Total - $ 99,451,591
Fin 48 (ASC 740) FootnoteTHE AUTHORITY FOLLOWS THE ACCOUNTING STANDARD RELATED TO THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN THE AUTHORITY'S FINANCIAL STATEMENTS. 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 AUTHORITY CURRENTLY DOES NOT HAVE ANY POSITIONS RESERVED.

Schedule J IRS990ScheduleJ

FieldValueIRS element (for citing)
Severance PaymentfalseSeverancePayment
Supplemental Nonqual Retire PlanfalseSupplementalNonqualRetirePlan
Equity Based Comp ArrangementfalseEquityBasedCompArrangement
Comp Based On Revenue Of Filing OrgfalseCompBasedOnRevenueOfFilingOrg
Comp Based On Revenue Related OrgsfalseCompBasedOnRevenueRelatedOrgs
Comp Based Net Earnings Filing OrgfalseCompBasedNetEarningsFilingOrg
Comp Based Net Earnings Relate OrgsfalseCompBasedNetEarningsRelateOrgs
Any Non Fixed PaymentsfalseAnyNonFixedPayments
Initial Contract ExceptionfalseInitialContractException

Form990 Schedule J Part II Form990ScheduleJPartII (7 entries)

Base Compensation Filing OrgBaseCompensationFilingOrgComp Based On Related OrgsCompBasedOnRelatedOrgsBonus Filing OrgBonusFilingOrgBonus Related OrgsBonusRelatedOrgsOther Compensation Filing OrgOtherCompensationFilingOrgOther Compensation Related OrgsOtherCompensationRelatedOrgsDeferred Comp Filing OrgDeferredCompFilingOrgDeferred Comp Related OrgsDeferredCompRelatedOrgsNontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgNontaxable Benefits Related OrgsNontaxableBenefitsRelatedOrgsTotal Compensation Filing OrgTotalCompensationFilingOrgTotal Compensation Related OrgsTotalCompensationRelatedOrgsComp Report Prior990 Filing OrgCompReportPrior990FilingOrgComp Report Prior990 Related OrgsCompReportPrior990RelatedOrgs
Murray Watson
054748504582310588520245170288740111795900
David Horner
02278710146083031885024500025226045556500
Ricky Turman
02831240163950020317024500012187050407800
Tammy Harralson
0114858051628017625018600015759021847000
Daniel Reyna
0857500364040860501314109502015340200
Kelli Villarrial
0156488068245014491024151010659027403400
Janice White
010344504842902200001716403804019484200

Schedule O IRS990ScheduleO

General Explanation GeneralExplanation

FieldValueIRS element (for citing)
IdentifierSupplemental InformationIdentifier
Return ReferenceForm 990, Part VI, Question 2ReturnReference
ExplanationBusiness Relationships RAY RUSHING AND MURRAY WATSON, JR. HAVE A BUSINESS RELATIONSHIP. Form 990, Part VI, Question 3 Description of Management Arrangement Brazos Higher Education Authority, Inc. has a contract with Brazos Higher Education Service Corporation to perform management and administration services on Brazos Higher Education Authority's behalf. This includes master servicing administration for the outstanding student loans held by Brazos Higher Education Authority. The services include, but are not limited to: accounting, reporting, servicing, originating, marketing, treasury, and compliance monitoring of the student loans held by Brazos Higher Education Authority. Form 990, Part VI, Question 7a Description of Classes of Persons and the Nature of Their Rights Brazos Higher Education Authority is a supporting organization of the City of Waco, Texas. The Waco City Council approves the appointment of Brazos Higher Education Authority's board of directors. However, the City of Waco does not control the operations of the board and only approves these appointments. The City does not make recommendations for the appointments nor do they appoint specific board members as a representative of the City. Form 990, Part VI, Question 7b Descr Classes of Persons, Decisions Requiring Appr & Type of Voting Rights Brazos Higher Education Authority issues tax-exempt debt as a supporting organization of the City of Waco. Therefore, whenever tax-exempt debt is issued by Brazos Higher Education Authority, the City of Waco approves the issuance. The City of Waco retains no liability for this debt. Brazos Higher Education Authority is solely responsible for the debt liability. Form 990, Part VI, Question 11b Describe the Process used by Management &/or Governing Body to Review 990 The 990 tax return is provided to senior management for their review. After their 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. Form 990, Part VI, Question 12c Description of Process to Monitor Transactions for Conflicts of Interest Brazos Higher Education Authority's internal audit department prepares and distributes a conflict of interest questionnaire to all board members and employees annually. The internal audit department reviews the questionnaires and compiles a list of potential conflicts for review by the audit committee, senior management, and the board of directors. Potential conflicts are assessed and resolved if determined to be at risk. Form 990, Part VI, Question 19 Avail of Gov Docs, Conflict of Interest Policy, & Fin Stmts to Gen Public The governing documents, conflict of interest policy, and financial statements are available to the public upon request. Form 990, Part XI, Line 5 Other Changes in Net Assets or Fund Balances Transfer from Affiliate - $1,629,681 FORM 990, PART VII, SECTION A AVERAGE HOURS DEVOTED TO RELATED ORGANIZATION *TURMAN, RICKY - 40 HOURS WITH BHESC *HORNER, DAVID - 40 HOURS WITH BHESC *VILLARRIAL, KELLI - 40 HOURS WITH BHESC *HARRALSON, TAMMY - 40 HOURS WITH BHESC *REYNA, DANIEL - 40 HOURS WITH BHESC *DAVIS, SUSAN - 40 HOURS WITH BHESC *WHITE, JANICE - 40 hours with BHESC *McInnis, James - 40 hours with BHESC *Watson, Murray - 40 hours with BHESC *Litle, Thomas - 40 hours with BHESC *Marable, Paul - 1 hour with BHESC *Chase, Tom - 1 hour with BHESC *Smith, Larry - 0 hours with BHESC Additional Information Recent Legislative Developments On March 30, 2010, President Obama signed into law the Reconciliation Act of 2010. Effective July 1, 2010, this law prohibits new loan originations under the FFELP and requires that all new federal loan originations be made through the Direct Loan Program. As a result, the Authority is essentially precluded from originating any new student loans. In the event that a first disbursement has been made on a FFELP loan prior to July 1, 2010, subsequent disbursements of that loan may still be made under the FFELP. Additionally, the new law does not alter or affect the terms and conditions of the Authority's existing FFELP loans.Explanation

Schedule R IRS990ScheduleR

Form990 Schedule R Part II Form990ScheduleRPartII (24 entries)

Address Line1AddressUS/AddressLine1CityAddressUS/CityStateAddressUS/StateZIP CodeAddressUS/ZIPCodeEINEINPrimary ActivitiesPrimaryActivitiesLegal Domicile StateLegalDomicileStateExempt Code SectionExemptCodeSectionPublic Charity StatusPublicCharityStatusBusiness Name Line1DirectControllingEntityName/BusinessNameLine1
Acapita Education Finance Corporation
PO BOX 1308WACOTX76703742542435fund std lnsTX501(c)(3)9NA
Atlantic Student Finance Corporation
2600 WASHINGTON AVENUEWACOTX76710205412189fund std lnsFL501(c)(3)7NA
Trinity Higher Education Authority Inc
2600 WASHINGTON AVENUEWACOTX76710742534486fund std lnsTX501(c)(3)9NA
Angelina Higher Education Authority
2600 WASHINGTON AVENUEWACOTX76710200115078fund std lnsTX501(c)(3)9NA
Concho Higher Education Authority Inc
2600 WASHINGTON AVENUEWACOTX76710203870081fund std lnsTX501(c)(3)9NA
Frio Higher Education Authority Inc
2600 WASHINGTON AVENUEWACOTX76710203870120fund std lnsTX501(c)(3)9NA
Lavaca Higher Education Authority Inc
2600 WASHINGTON AVENUEWACOTX76710203870153fund std lnsTX501(c)(3)9NA
Leon Higher Education Authority Inc
2600 WASHINGTON AVENUEWACOTX76710203870176fund std lnsTX501(c)(3)9NA
Llano Higher Education Authority Inc
2600 WASHINGTON AVENUEWACOTX76710203870219fund std lnsTX501(c)(3)9NA
Neches Higher Education Authority Inc
2600 WASHINGTON AVENUEWACOTX76710203868073fund std lnsTX501(c)(3)9NA
Paluxy Higher Education Authority Inc
2600 WASHINGTON AVENUEWACOTX76710203868139fund std lnsTX501(c)(3)9NA
Rozell Higher Education Authority Inc
2600 WASHINGTON AVENUEWACOTX76710203867891fund std lnsTX501(c)(3)9NA
Sabine Higher Education Authority Inc
2600 WASHINGTON AVENUEWACOTX76710203868185fund std lnsTX501(c)(3)9NA
Texoma Higher Education Authority Inc
2600 WASHINGTON AVENUEWACOTX76710203868230fund std lnsTX501(c)(3)9NA
Brazos Education Foundation Inc
2612 WASHINGTON AVENUEWACOTX76710264562436grant makingTX501(c)(3)7NA
Academic Finance Corporation
PO BOX 1308WACOTX76703742540458fund std lnsTX501(c)(3)9NA
Education Servicing Mgmt Corporation
2600 WASHINGTON AVENUEWACOTX76710203870046fund std lnsTX501(c)(3)9NA
Brazos Education Finance Corporation In
2600 WASHINGTON AVENUEWACOTX76710742539632fund std lnsTX501(c)(3)11 type 1NA
Bosque Higher Education Authority Inc
PO BOX 1308WACOTX76703742534099fund std lnsTX501(c)(3)9NA
Brazos Student Finance Corporation
PO BOX 1308WACOTX76703742356109fund std lnsTX501(c)(3)9NA
EdInvest Company
2600 WASHINGTON AVENUEWACOTX76710742537669fund std lnsTX501(c)(3)9NA
Educational Funding Services Inc
PO BOX 1308WACOTX76703330947525fund std lnsCA501(c)(3)9NA
Federated Student Finance Corporation
2600 WASHINGTON AVENUEWACOTX76710742536239fund std lnsTX501(c)(3)9NA
Brazos Higher Education Service Corp
PO BOX 1308WACOTX76703742129255fund std lnsTX501(C)(3)9na
FieldValueIRS element (for citing)
Receipt Of Int Ann Rents RoyaltiesfalseReceiptOfIntAnnRentsRoyalties
Gift Grant Or Cap Contr To Other OrgfalseGiftGrantOrCapContrToOtherOrg
Gift Grant Or Cap Contr Fr Other OrgtrueGiftGrantOrCapContrFrOtherOrg
Loans Or Guarantees To Other OrgfalseLoansOrGuaranteesToOtherOrg
Loans Or Guarantees From Other OrgtrueLoansOrGuaranteesFromOtherOrg
Sale Of Assets To Other OrgtrueSaleOfAssetsToOtherOrg
Purchase Of Assets From Other OrgtruePurchaseOfAssetsFromOtherOrg
Exchange Of AssetsfalseExchangeOfAssets
Rental Of Facilities To Other OrgsfalseRentalOfFacilitiesToOtherOrgs
Rental Of Facilities Fr Other OrgsfalseRentalOfFacilitiesFrOtherOrgs
Perform Of Services For Other OrgsfalsePerformOfServicesForOtherOrgs
Perform Of Services By Other OrgstruePerformOfServicesByOtherOrgs
Sharing Of FacilitiesfalseSharingOfFacilities
Sharing Of Paid EmployeesfalseSharingOfPaidEmployees
Reimbursement Paid To Other OrgfalseReimbursementPaidToOtherOrg
Reimbursement Paid By Other OrgfalseReimbursementPaidByOtherOrg
Other Transfer To Other OrgtrueOtherTransferToOtherOrg
Other Transfer From Other OrgtrueOtherTransferFromOtherOrg

Transactions Related Orgs Table TransactionsRelatedOrgsTable (19 entries)

Transaction TypeTransactionTypeAmount InvolvedAmountInvolved
Brazos Student Finance Corporation
c715812
EdInvest Company
c97148
Academic Finance Corporation
c222223
Educational Funding Services Inc
c573444
Brazos Higher Education Service Corporation
e3500000
Brazos Higher Education Service Corporation
l10310476
Bosque Higher Education Authority
f624379
Brazos Student Finance Corporation
f118300
Educational Funding Services
f105572
Federated Student Finance Corporation
f135458
Acapita Education Finance Corporation
f112983
Acapita Education Finance Corporation
g114646
Academic Finance Corporation
g67907511
Brazos Student Finance Corporation
g586520531
Edinvest Company
g202435062
Educational Funding Services
g512227571
Trinity Higher Education Authority
g37589075
Brazos Higher Education Service Corporation
q164796
Brazos Higher Education Service Corporation
r254296