Overview
What is Brazos Education Loan Authority Inc?
Brazos Education Loan Authority Inc, based in Waco, Texas, serves as a secondary market for college student loans under the Federal Family Education Loan Program (FFELP) and HEAL Student Loan Programs. Their mission is to make education a reality by financing educational opportunities through various programs and initiatives. The loans funded by Brazos Education Loan Authority were permanent financed under FFELP and HEAL.
Official website here: www.studentloans.com
What are the reviews and ratings of this charity?
Charity Navigator rating: 81%, Three-Star out of Four Star rating.
Brazos Education Loan Authority Inc has received a solid Three-Star rating from Charity Navigator, indicating a commendable level of accountability and financial health. The charity's score is solely based on its Accountability & Finance beacon, which highlights its strong governance practices and financial transparency. Notably, the organization boasts a 100% independent board, which is a significant strength as it suggests a commitment to impartial decision-making.
The financial audit process for the most recent fiscal year yielded perfect scores across various accountability measures, such as the absence of material asset diversion and the presence of key policies, including conflict of interest and whistleblower protections. Furthermore, the organization demonstrates a strong commitment to its mission, with a remarkable program expense ratio of 100%, indicating that all its resources are directed towards its charitable objectives.
However, it is important to note the high salaries of key personnel, which may raise questions about compensation practices in relation to the organization's overall mission. While the financial health appears robust and the governance structures are sound, potential donors may want to consider these factors when evaluating the organization's efficiency and effectiveness in fulfilling its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Brazos Education Loan Authority Inc legitimate?
Brazos Education Loan Authority Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Brazos Education Loan Authority Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.studentloans.com
What is the mission statement of Brazos Education Loan Authority Inc?
The Brazos Education Loan Authority works to make education accessible by supporting initiatives and programs aimed at financing educational opportunities. Through its involvement in the Federal Family Education Loan Program (FFELP) and the HEAL Student Loan Program, the organization holds student loans to help fund higher education. The mission of Brazos Education Loan Authority is to make education a reality for students by facilitating financial support for their educational pursuits. The loans, which are funded through permanent financings, provide essential resources for students to further their education.
Official website here: www.studentloans.com
Who is the CEO of Brazos Education Loan Authority Inc?
Ricky Turman is the President/Ceo of Brazos Education Loan Authority Inc. The CEO's salary of Brazos Education Loan Authority Inc is $0 and their total compensation is $775,096.
Official website here: www.studentloans.com
What is the revenue of Brazos Education Loan Authority Inc?
Brazos Education Loan Authority Inc's revenue in 2022 was $48,416,543.
Official website here: www.studentloans.com
Who are the executives of Brazos Education Loan Authority Inc and what are their salaries?
There 5 volunteers at Brazos Education Loan Authority Inc.
Here are 12 key members and their salaries (Brazos Education Loan Authority Inc's CEO's salary is $0 and their total compensation is $775,096):
- Compensation: $0
- Related: $707,065
- Other: $68,031
- Compensation: $0
- Related: $593,678
- Other: $71,273
- Compensation: $0
- Related: $341,729
- Other: $63,567
- Compensation: $0
- Related: $234,378
- Other: $57,610
- Compensation: $0
- Related: $186,941
- Other: $46,110
- Compensation: $0
- Related: $131,448
- Other: $20,232
- Compensation: $0
- Related: $84,031
- Other: $18,574
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.studentloans.com
Where can I find the form 990 for Brazos Education Loan Authority Inc?
Brazos Education Loan Authority Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.studentloans.com
Learn more at the official website: www.studentloans.com
Mission Statement of Brazos Education Loan Authority Inc
Brazos Education Loan Authority, a secondary market for college student loans under the Federal Family Education Loan Program (FFELP) and HEAL Student Loan Programs, is dedicated to making education a reality. The organization supports various programs and initiatives aimed at financing educational opportunities. Brazos Education Loan Authority's mission is to provide access to student loans that help individuals pursue their educational goals. These loans, funded through permanent financings under FFELP and HEAL, have enabled numerous students to attend and complete their education. By offering financial assistance for education, Brazos Education Loan Authority plays a vital role in empowering students to build a better future for themselves. The organization's commitment to financing educational opportunities has made a significant impact on the lives of many students, enabling them to further their education and achieve their career aspirations.
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Impact
October, 2024
Brazos Education Loan Authority Inc plays a significant role in making educational opportunities more accessible. By supporting programs and initiatives that finance education, it facilitates access to student loans through the Federal Family Education Loan Program (FFELP) and the Health Education Assistance Loan (HEAL) programs. This support helps students achieve their educational goals, thereby fostering higher education attainment in the community.
Based in Waco, Texas, Brazos serves as a secondary market for college student loans, ensuring that funding is available to those who need it. By providing financial solutions, it aids in the reduction of barriers to education, enabling individuals to pursue their academic and career aspirations without the crippling burden of financial constraints. The overall impact of Brazos is significant, as it not only addresses the immediate financial needs of students but also contributes to the broader goal of enhancing educational opportunities and outcomes for future generations.
This information is meant to be a general summary of Brazos Education Loan Authority Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $129,039
- Program Service Revenue: $53,040,851
- Gross Receipts: $48,416,543
Assets and Liabilities:
- Total Assets: $1,464,923,579
- Total Liabilities: $1,192,665,537
- Net Assets: $272,258,042
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Interest on Student Loans
Revenue
$52,746,726
Late Fees
Revenue
$294,125
Organization Details
Founding Year
2005
Phone
(254) 753-0915Principal Officer
Ricky Turman
Main Address
5609 Crosslake Pkwy, Waco, TX, 76712
Website
www.studentloans.comNTEE Category
Code: B82 - Education
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