ALABAMA HIGHER EDUCATION LOAN CORP: Form 990, tax year 2009
View the entire original 990 at ProPublica ↗
- Organization
- ALABAMA HIGHER EDUCATION LOAN CORP (EIN 63-0822405)
- Tax period
- 2009-10-01 to 2010-09-30
- Filed
- 2011-01-11
- IRS object ID
- 201100129349300685
- Schema version
- 2009v1.7
- 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
| Field | Value | IRS element (for citing) |
|---|---|---|
| Timestamp | 2011-01-11T13:22:05-06:00 | Timestamp |
| Tax Period End Date | 2010-09-30 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Mauldin & Jenkins LLC | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | P O Box 1877 | AddressLine1 |
| City | Macon | City |
| State | GA | State |
| ZIP Code | 312021877 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2009-10-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 630822405 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ALABAMA HIGHER EDUCATION LOAN CORP | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | ALAB | NameControl |
| Phone | 3342659720 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 100 NORTH UNION STREET SUITE 390 | AddressLine1 |
| City | MONTGOMERY | City |
| State | AL | State |
| ZIP Code | 36104 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | A LEE MILLER | Name |
| Title | ASST SECRETARY & CORPORATE COUNSEL | Title |
| Phone | 3342427160 | Phone |
| Date Signed | 2011-01-11 | DateSigned |
| Authorize Third Party | 1 | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | Wade Sansbury | Name |
| Phone | 4784648000 | Phone |
| Date Prepared | 2011-01-11 | DatePrepared |
| Self Employed | X | SelfEmployed |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2009 | TaxYear |
| Build TS | 2016-02-24 21:20:13Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Principal Officer Person | A LEE MILLER | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1772 PLATT PLACE | AddressLine1 |
| City | MONTGOMERY | City |
| State | AL | State |
| ZIP Code | 36117 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 3294257 | GrossReceipts |
| Group Return For Affiliates | 0 | GroupReturnForAffiliates |
| Organization501c | X | Organization501c |
| Web Site | N/A | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 1980 | YearFormation |
| State Legal Domicile | AL | StateLegalDomicile |
| Activity Or Mission Description | TO PROVIDE A SECONDARY MARKET OF STUDENT LOANS FOR LENDERS AND ALABAMA STUDENTS THROUGH THE ISSUANCE OF STUDENT LOAN REVENUE BONDS TO THE PUBLIC. THE PROCEEDS ARE THEN USED TO PURCHASE STUDENT LOANS AND SERVICE THE LOANS. | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 9 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 9 | NbrIndependentVotingMembers |
| Total Nbr Employees | 0 | TotalNbrEmployees |
| Total Nbr Volunteers | 9 | TotalNbrVolunteers |
| Total Gross UBI | 0 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | 0 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Current Year | 0 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 3116137 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 3294257 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 30040 | InvestmentIncomePriorYear |
| Investment Income Current Year | 0 | InvestmentIncomeCurrentYear |
| Other Revenue Current Year | 0 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 3146177 | TotalRevenuePriorYear |
| Total Revenue Current Year | 3294257 | TotalRevenueCurrentYear |
| Grants And Similar Amnts CY | 0 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members CY | 0 | BenefitsPaidToMembersCY |
| Salaries Etc Current Year | 0 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp CY | 0 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 0 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 4772940 | OtherExpensePriorYear |
| Other Expenses Current Year | 10786909 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 4772940 | TotalExpensesPriorYear |
| Total Expenses Current Year | 10786909 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | -1626763 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | -7492652 | RevenuesLessExpensesCY |
| Total Assets BOY | 91438619 | TotalAssetsBOY |
| Total Assets EOY | 83899360 | TotalAssetsEOY |
| Total Liabilities BOY | 76687644 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 76300504 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 14750975 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 7598856 | NetAssetsOrFundBalancesEOY |
| Mission Description | TO PROVIDE A SECONDARY MARKET OF STUDENT LOANS FOR LENDERS AND ALABAMA STUDENTS THROUGH THE ISSUANCE OF STUDENT LOAN REVENUE BONDS TO THE PUBLIC. THE PROCEEDS ARE THEN USED TO PURCHASE STUDENT LOANS AND SERVICE THE LOANS. | MissionDescription |
| Significant New Program Services | 0 | SignificantNewProgramServices |
| Significant Change | 0 | SignificantChange |
| Expense | 10786909 | Expense |
| Revenue | 3294257 | Revenue |
| Description | TO PROVIDE A SECONDARY MARKET OF STUDENT LOANS FOR LENDERS AND ALABAMA STUDENTS THROUGH THE ISSUANCE OF STUDENT LOAN REVENUE BONDS TO THE PUBLIC. THE PROCEEDS ARE THEN USED TO PURCHASE STUDENT LOANS AND SERVICE THE LOANS. | Description |
| Total Program Service Expense | 10786909 | TotalProgramServiceExpense |
| Described In501 C3 | 1 | DescribedIn501C3 |
| Schedule B Required | 0 | ScheduleBRequired |
| Political Activities | 0 | PoliticalActivities |
| Lobbying Activities | 0 | LobbyingActivities |
| Donor Advised Funds | 0 | DonorAdvisedFunds |
| Conservation Easements | 0 | ConservationEasements |
| Collections Of Art | 0 | CollectionsOfArt |
| Credit Counseling | 0 | CreditCounseling |
| Term Or Permanent Endowments | 0 | TermOrPermanentEndowments |
| Balance Sheet Amounts Reported | 1 | BalanceSheetAmountsReported |
| Independent Audit Financial Stmt | 1 | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | 0 | ConsolidatedAuditFinancialStmt |
| School | 0 | School |
| Foreign Office | 0 | ForeignOffice |
| Foreign Activities | 0 | ForeignActivities |
| More Than5000 K To Organizations | 0 | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividuals |
| Professional Fundraising | 0 | ProfessionalFundraising |
| Fundraising Activities | 0 | FundraisingActivities |
| Gaming | 0 | Gaming |
| Hospital | 0 | Hospital |
| Grants To Organizations | 0 | GrantsToOrganizations |
| Grants To Individuals | 0 | GrantsToIndividuals |
| Schedule J Required | 0 | ScheduleJRequired |
| Tax Exempt Bonds | 1 | TaxExemptBonds |
| Invest Tax Exempt Bonds | 0 | InvestTaxExemptBonds |
| Escrow Account | 0 | EscrowAccount |
| On Behalf Of Issuer | 0 | OnBehalfOfIssuer |
| Excess Benefit Transaction | 0 | ExcessBenefitTransaction |
| Prior Excess Benefit Transaction | 0 | PriorExcessBenefitTransaction |
| Loan To Officer Or DQP | 0 | LoanToOfficerOrDQP |
| Grant To Related Person | 0 | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | 0 | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | 0 | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | 0 | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | 0 | DeductibleNonCashContributions |
| Deductible Contributions Of Art | 0 | DeductibleContributionsOfArt |
| Terminated | 0 | Terminated |
| Partial Liquidation | 0 | PartialLiquidation |
| Disregarded Entity | 0 | DisregardedEntity |
| Related Entity | 0 | RelatedEntity |
| Related Org Controlled Entity | 0 | RelatedOrgControlledEntity |
| Transfers To Exempt Non Chrtbl Org | 0 | TransfersToExemptNonChrtblOrg |
| Activities Conducted Partnership | 0 | ActivitiesConductedPartnership |
| Schedule O Required | 1 | ScheduleORequired |
| Number Forms Transmitted With1096 | 0 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Number Of Employees | 0 | NumberOfEmployees |
| Unrelated Business Income | 0 | UnrelatedBusinessIncome |
| Foreign Financial Account | 0 | ForeignFinancialAccount |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTrans |
| Taxable Party Notification | 0 | TaxablePartyNotification |
| Non Deductible Contributions | 0 | NonDeductibleContributions |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributions |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOf |
| Funds To Pay Premiums | 0 | FundsToPayPremiums |
| Premiums Paid | 0 | PremiumsPaid |
| Nbr Voting Governing Body Members | 9 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 9 | NumberIndependentVotingMembers |
| Family Or Business Relationship | 0 | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | 0 | DelegationOfManagementDuties |
| Changes To Organizing Docs | 0 | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuse |
| Members Or Stockholders | 0 | MembersOrStockholders |
| Election Of Board Members | 0 | ElectionOfBoardMembers |
| Decisions Subject To Approval | 0 | DecisionsSubjectToApproval |
| Minutes Of Governing Body | 1 | MinutesOfGoverningBody |
| Minutes Of Committees | 1 | MinutesOfCommittees |
| Officer Mailing Address | 0 | OfficerMailingAddress |
| Local Chapters | 0 | LocalChapters |
| Form990 Provided To Governing Body | 1 | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | 0 | ConflictOfInterestPolicy |
| Whistleblower Policy | 0 | WhistleblowerPolicy |
| Document Retention Policy | 1 | DocumentRetentionPolicy |
| Compensation Process CEO | 0 | CompensationProcessCEO |
| Compensation Process Other | 0 | CompensationProcessOther |
| Investment In Joint Venture | 0 | InvestmentInJointVenture |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
Name Business NameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | EVERLENE LOVE | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Telephone Number | 3342659720 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 100 N UNION STREET SUITE 390 | AddressLine1 |
| City | MONTGOMERY | City |
| State | AL | State |
| ZIP Code | 36104 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| No Listed Persons Compensated | X | NoListedPersonsCompensated |
Form990 Part VII Section A Form990PartVIISectionA (9 entries)
| TitleTitle | Individual Trustee Or DirectorIndividualTrusteeOrDirector | OfficerOfficer | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation |
|---|---|---|---|---|---|
| DR GROVER JACOBS | |||||
| VICE PRESIDENT | X | X | 0 | 0 | 0 |
| RICHARD D BUNTIN | |||||
| DIRECTOR | X | 0 | 0 | 0 | |
| JOHN HARRISON | |||||
| TREASURER | X | X | 0 | 0 | 0 |
| KAY IVEY | |||||
| SECRETARY | X | X | 0 | 0 | 0 |
| GARY WARREN | |||||
| DIRECTOR | X | 0 | 0 | 0 | |
| BILL NEWTON | |||||
| PRESIDENT | X | X | 0 | 0 | 0 |
| ELBERT PETERS | |||||
| DIRECTOR | X | 0 | 0 | 0 | |
| DAVE STEWART | |||||
| DIRECTOR | X | 0 | 0 | 0 | |
| RICHARD BABINGTON | |||||
| DIRECTOR | X | 0 | 0 | 0 | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 0 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 0 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 0 | TotalOtherCompensation |
| Number Individuals GT100 K | 0 | NumberIndividualsGT100K |
| Formers Listed | 0 | FormersListed |
| Total Comp GT150 K | 0 | TotalCompGT150K |
| Compensation From Other Sources | 0 | CompensationFromOtherSources |
Contractor Compensation ContractorCompensation (3 entries)
| Address Line1AddressOfContractor/AddressUS/AddressLine1 | CityAddressOfContractor/AddressUS/City | StateAddressOfContractor/AddressUS/State | ZIP CodeAddressOfContractor/AddressUS/ZIPCode | Description Of ServicesDescriptionOfServices | CompensationCompensation |
|---|---|---|---|---|---|
| US DEPARTMENT OF EDUCATION | |||||
| 400 MARYLAND AVENUE SW | WASHINGTON | DC | 20202 | SPECIAL ALLOWANCE INTEREST PAYMENTS | 1955959 |
| KENTUCKY HIGHER EDUCATION STUDENT LOAN C | |||||
| PO BOX 24266 | LOUISVILLE | KY | 402240266 | MANAGEMENT AND LOAN SERVICING | 845192 |
| DEUTSCHE BANK | |||||
| 60 WALL STREET | NEW YORK | NY | 10005 | BROKER DEALER / AUCTION AGENT FEES | 121131 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of Contractors GT100 K | 3 | NumberOfContractorsGT100K |
Program Service Revenue ProgramServiceRevenue (2 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome |
|---|---|---|---|
| STUDENT LOAN INTEREST | 900099 | 3259272 | 3259272 |
| STUDENT LOAN LATE FEES | 900099 | 34985 | 34985 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 3294257 | TotalProgramServiceRevenue |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 3294257 | TotalRevenueColumn |
| Related Or Exempt Function Income | 3294257 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 0 | UnrelatedBusinessRevenue |
| Exclusion | $0 | ExclusionAmount |
Fees For Services Management FeesForServicesManagement
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 555816 | Total |
| Program Services | 555816 | ProgramServices |
Fees For Services Legal FeesForServicesLegal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 46154 | Total |
| Program Services | 46154 | ProgramServices |
Fees For Services Accounting FeesForServicesAccounting
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 68000 | Total |
| Program Services | 68000 | ProgramServices |
Fees For Services Invst Mgmnt Fees FeesForServicesInvstMgmntFees
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 18000 | Total |
| Program Services | 18000 | ProgramServices |
Fees For Services Other FeesForServicesOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 311311 | Total |
| Program Services | 311311 | ProgramServices |
Interest Interest
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 340554 | Total |
| Program Services | 340554 | ProgramServices |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 755200 | Total |
| Program Services | 755200 | ProgramServices |
Other Expenses OtherExpenses (3 entries)
| DescriptionDescription | TotalTotal | Program ServicesProgramServices |
|---|---|---|
| PROVISION FOR LOAN WRIT | 6446537 | 6446537 |
| SPECIAL ALLOWANCE PAYME | 1955959 | 1955959 |
| LOAN ORIGINATION FEES | 289378 | 289378 |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 10786909 | Total |
| Program Services | 10786909 | ProgramServices |
| Management And General | 0 | ManagementAndGeneral |
| Fundraising | 0 | Fundraising |
Savings And Temp Cash Investments SavingsAndTempCashInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 7830093 | BOY |
| EOY | 12236705 | EOY |
Accounts Receivable AccountsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 2680528 | BOY |
| EOY | 3460295 | EOY |
Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 970043 | BOY |
| EOY | 934939 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 79957955 | BOY |
| EOY | 67267421 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 91438619 | BOY |
| EOY | 83899360 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1247111 | BOY |
| EOY | 1200504 | EOY |
Tax Exempt Bond Liabilities TaxExemptBondLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 75100000 | BOY |
| EOY | 75100000 | EOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 340533 | BOY |
| EOY | 0 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 76687644 | BOY |
| EOY | 76300504 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Do Not Follow SFAS117 | X | DoNotFollowSFAS117 |
Cap Stck Trst Prin Current Funds CapStckTrstPrinCurrentFunds
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Paid In Cap Srpls Land Bldg Eqp Fund PaidInCapSrplsLandBldgEqpFund
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Retained Earnings Endowment Etc RetainedEarningsEndowmentEtc
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 14750975 | BOY |
| EOY | 7598856 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 14750975 | BOY |
| EOY | 7598856 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 91438619 | BOY |
| EOY | 83899360 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | 0 | AccountantCompileOrReview |
| FS Audited | 1 | FSAudited |
| Audit Committee | 1 | AuditCommittee |
| Financial Statement Separate | X | FinancialStatementSeparate |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequired |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Supporting Organization509a3 | X | SupportingOrganization509a3 |
| Supporting Org509a3 Type1 | X | SupportingOrg509a3Type1 |
| Written IRS Determination | X | WrittenIRSDetermination |
| Contrib By Controlling Individual | 0 | ContribByControllingIndividual |
| Contribution By Related Party | 0 | ContributionByRelatedParty |
| Contrib By35 Controlled Entity | 0 | ContribBy35ControlledEntity |
Supported Org Information SupportedOrgInformation
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | STATE OF ALABAMA | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 636000619 | EIN |
| Type Of Organization | 6 | TypeOfOrganization |
| Listed In Governing Doc | 1 | ListedInGoverningDoc |
| Supported Organization Notified | 1 | SupportedOrganizationNotified |
| Organized In US | 1 | OrganizedInUS |
| Amount | $0 | Amount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Number Of Supported Orgs | 1 | TotalNumberOfSupportedOrgs |
| Sum Of Amounts | 0 | SumOfAmounts |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 0 | TotalOfBookValueLandBuildings |
Other Assets OtherAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | INVESTMENTS IN STUDENT LOANS | Description |
| Book Value | 67267421 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Other Assets | 67267421 | TotalBookValueOtherAssets |
| Total Revenue | 3294257 | TotalRevenue |
| Total Expenses | 10786909 | TotalExpenses |
| Excess Or Deficit For Year | -7492652 | ExcessOrDeficitForYear |
| Other | $340,533 | OtherAmount |
| Total Adjustments | 340533 | TotalAdjustments |
| Excess Or Deficit Per FS | -7152119 | ExcessOrDeficitPerFS |
| Tot Revenue Etc Audited Fincl Stmt | 1338298 | TotRevenueEtcAuditedFinclStmt |
| Other Revenues | -1955959 | OtherRevenues |
| Revenue Not Rptd F990 | -1955959 | RevenueNotRptdF990 |
| Revenue Subtotal | 3294257 | RevenueSubtotal |
| Revenue Not Rptd On Fin Stmt | 0 | RevenueNotRptdOnFinStmt |
| Total Revenue Per Form990 | 3294257 | TotalRevenuePerForm990 |
| Tot Expenses Etc Audited Fincl Stmt | 8490417 | TotExpensesEtcAuditedFinclStmt |
| Other Expenses Included | -340533 | OtherExpensesIncluded |
| Expenses Not Rptd F990 | -340533 | ExpensesNotRptdF990 |
| Expenses Subtotal | 8830950 | ExpensesSubtotal |
| Other Expenses Not Included | 1955959 | OtherExpensesNotIncluded |
| Expenses Not Rptd On Fin Stmt | 1955959 | ExpensesNotRptdOnFinStmt |
| Total Expenses Per Form990 | 10786909 | TotalExpensesPerForm990 |
Form990 Schedule D Part XIV Form990ScheduleDPartXIV (4 entries)
| IdentifierIdentifier | ExplanationExplanation |
|---|---|
| Part XI, Line 8 - Other Adjustments: | FEDERAL ARBITRAGE REBATE PROVISION (REDUCTION IN LIABILITY): 340533. |
| Part XII, Line 2d - Other Adjustments: | SPECIAL ALLOWANCE PAYMENTS TO THE USDOE: -1955959. |
| Part XIII, Line 2d - Other Adjustments: | FEDERAL ARBITRAGE REBATE PROVISIONS: -340533. |
| Part XIII, Line 4b - Other Adjustments: | SPECIAL ALLOWANCE PAYMENTS TO THE USDOE: 1955959. |
Schedule K IRS990ScheduleK
Form990 Schedule K Part I Form990ScheduleKPartI (2 entries)
| Issuer EINIssuerEIN | CUSIP NumberCUSIPNumber | Date IssuedDateIssued | Issue PriceIssuePrice | Description Of PurposeDescriptionOfPurpose | DefeasedDefeased | On Behalf Of IssuerOnBehalfOfIssuer |
|---|---|---|---|---|---|---|
| ALABAMA HIGHER EDUCATION LOAN CORPORATION | ||||||
| 630822405 | 010305EU0 | 2006-11-27 | 25000000 | TO FINANCE THE ACQUISITION OF ELIGIBLE STUDENT LOANS | 0 | 0 |
| ALABAMA HIGHER EDUCATION LOAN CORPORATION | ||||||
| 630822405 | 010305EV8 | 2006-11-27 | 75000000 | TO FINANCE THE ACQUISITION OF ELIGIBLE STUDENT LOANS | 0 | 0 |
Form990 Schedule K Part II Form990ScheduleKPartII (2 entries)
| Current RefundingCurrentRefunding | Advance RefundingAdvanceRefunding | Final Allocation MadeFinalAllocationMade | Adequate Books And Recds MaintaindAdequateBooksAndRecdsMaintaind |
|---|---|---|---|
| 0 | 0 | 0 | 0 |
| 0 | 0 | 0 | 0 |
Form990 Schedule K Part III Form990ScheduleKPartIII (2 entries)
| Owning Bond Financed PropertyOwningBondFinancedProperty | Any Lease ArrangementsAnyLeaseArrangements | Mngment Cntrct Bond Financd PrprtyMngmentCntrctBondFinancdPrprty | Any Research AgreementsAnyResearchAgreements | Bond Counsel Routinely EngagedBondCounselRoutinelyEngaged | Post Issuance Compliance ProcdrsPostIssuanceComplianceProcdrs |
|---|---|---|---|---|---|
| 0 | 0 | 0 | 0 | 0 | 0 |
| 0 | 0 | 0 | 0 | 0 | 0 |
Form990 Schedule K Part IV Form990ScheduleKPartIV (2 entries)
| Form8038 T FiledForm8038TFiled | Variable Rate IssueVariableRateIssue | Hedge Identified In Books And RecdsHedgeIdentifiedInBooksAndRecds | Gross Proceeds Invested In GICGrossProceedsInvestedInGIC | Gross Proceeds InvestedGrossProceedsInvested | Exception To RebateExceptionToRebate |
|---|---|---|---|---|---|
| 0 | 0 | 0 | 0 | 0 | 0 |
| 0 | 0 | 0 | 0 | 0 | 0 |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (3 entries)
| IdentifierIdentifier | ExplanationExplanation |
|---|---|
| Form 990, Part VI, Section B, line 11 | THE FORM 990 IS DRAFTED BY THE CORPORATION'S CPA. THE FORM 990 IS THEN REVIEWED BY THE CORPORATION'S MANAGEMENT AND THIRD PARTY CONSULTANT AND IS THEN SUBSEQUENTLY GIVEN TO THE ASSISTANT SECRETARY AND BOARD COUNSEL FOR REVIEW AND APPROVAL. ONLY UPON FINAL REVIEW AND APPROVAL IS THE FORM 990 RELEASED. |
| Form 990, Part VI, Section C, line 19 | All are available upon request. |
| Form 990, Part XI, Line2c | THE CORPORATION DID NOT CHANGE ITS OVERSIGHT PROCESS DURING THE YEAR. |