Overview
What is North Texas Higher Education Authority Inc?
North Texas Higher Education Authority Inc is a nonprofit organization based in Arlington, Texas. Their primary mission revolves around student loans, acquiring and providing life-long servicing for post-secondary level loans, predominantly through the issuance of bonds. They currently manage 113,617 outstanding loans. In simple terms, they facilitate the procurement of student loans and offer continuous support in managing loan repayment for higher education students.
Official website here: www.nthea.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81% (Three-Star out of Four Star Rating)
North Texas Higher Education Authority Inc has received a solid Three-Star rating from Charity Navigator, indicating a strong performance in accountability and finance. The organization excels in various areas, with 100% of its board members being independent and receiving high marks for its financial statements and oversight policies. This reflects a commitment to transparency and responsible financial management.
The charity's program expense ratio stands at 73.98%, demonstrating a significant focus on its mission-driven activities. However, it has a lower score in the liabilities to assets ratio, which may suggest some financial challenges in terms of asset management. Nonetheless, the absence of material diversion of assets and strong policies in place further enhance its standing.
While the organization shows commendable practices in governance and finance, potential donors and stakeholders should consider the liabilities aspect when evaluating its overall financial health. Overall, the North Texas Higher Education Authority Inc demonstrates a responsible approach towards its financial practices and governance, positioning itself as a trustworthy nonprofit.
This AI summary has been generated from information found on Charity Navigator.
Is North Texas Higher Education Authority Inc legitimate?
North Texas Higher Education Authority Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. North Texas Higher Education 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:
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Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.nthea.com
What is the mission statement of North Texas Higher Education Authority Inc?
The North Texas Higher Education Authority Inc plays a significant role in the higher education sector by providing student loans and managing their servicing at the post-secondary level. This non-profit organization acquires funds primarily through bond issuances to purchase and oversee the repayment process of Federal Family Education Loan Program (FFELP) student loans. As of now, they have approximately 113,617 such loans under their management. Their mission can be paraphrased as facilitating access to student loans for individuals pursuing higher education and ensuring seamless loan repayment throughout the loan term.
Official website here: www.nthea.com
Who is the CEO of North Texas Higher Education Authority Inc?
Phillip Wambsganss is the Treasurer/Secretary, Board Member of North Texas Higher Education Authority Inc.
Official website here: www.nthea.com
What is the revenue of North Texas Higher Education Authority Inc?
North Texas Higher Education Authority Inc's revenue in 2022 was $26,983,231.
Official website here: www.nthea.com
Who are the executives of North Texas Higher Education Authority Inc and what are their salaries?
There 6 volunteers at North Texas Higher Education Authority Inc.
Here are 8 key members and their salaries:
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Official website here: www.nthea.com
Where can I find the form 990 for North Texas Higher Education Authority Inc?
North Texas Higher Education Authority Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.nthea.com
Learn more at the official website: www.nthea.com
Mission Statement of North Texas Higher Education Authority Inc
North Texas Higher Education Authority Inc, a notable nonprofit organization, is dedicated to providing student loans and offering lifelong loan servicing at the post-secondary level. In simpler terms, it helps students finance their higher education and manages their loan repayments throughout the life of the loan. With over 113,617 loans currently outstanding, the organization has made a significant impact on young people's lives by making education more accessible.
Through its primary function, North Texas Higher Education Authority Inc acquires student loans, mainly by issuing bonds, to purchase Federal Family Education Loan Program (FFELP) student loans at the post-secondary level. It then assumes the responsibility of servicing these loans, ensuring that borrowers receive proper guidance and support throughout their repayment process. By providing this essential service, the organization plays a crucial role in enabling students to focus on their studies and future careers rather than financial stress. Additionally, the organization's commitment to serving these loans extends beyond the initial disbursement, ensuring that borrowers receive continuous support and guidance throughout their loan repayment journey.
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Impact
October, 2024
North Texas Higher Education Authority Inc plays a vital role in facilitating access to higher education by acquiring and servicing student loans, primarily through the issuance of bonds. This enables them to provide funding for a significant number of students pursuing post-secondary education, with 113,617 loans currently outstanding. By ensuring the effective management and servicing of these loans, the organization supports students in navigating their educational journeys, ultimately contributing to their academic and career success. Located in Arlington, Texas, the authority's mission is centered on enhancing educational opportunities, which has a positive impact not only on individual students but also on the broader community and workforce in the region.
This information is meant to be a general summary of North Texas Higher Education 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: $943,419
- Program Service Revenue: $26,039,812
- Gross Receipts: $26,983,231
Assets and Liabilities:
- Total Assets: $1,018,646,765
- Total Liabilities: $816,274,695
- Net Assets: $202,372,070
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Student loan interest & Govt subsidy
Revenue
$26,039,812
Organization Details
Founding Year
1979
Phone
(817) 265-9158Principal Officer
Phillip Wambsganss
Main Address
4381 W Green Oaks Blvd Suite 200, Arlington, TX, 760164452
Website
www.nthea.comNTEE Category
Code: B80Z - Education
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