Overview
What is Pheaa Student Loan Foundation Inc?
The Pheaa Student Loan Foundation Inc, established as a non-stock, nonprofit corporation under Pennsylvania's law of 1988, is committed to facilitating Student Loan securitization transactions. This organization, headquartered with undisclosed information, aims to contribute to the education sector by streamlining student loan processes in an ethical and efficient manner.
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 52% (One-Star out of Four Star rating)
Pheaa Student Loan Foundation Inc has received a 52% rating from Charity Navigator, indicating significant concerns regarding its accountability and financial management. The low score reflects a lack of independent board members and insufficient transparency, as demonstrated by failures to meet criteria such as posting financial documents on its website and having a whistleblower policy.
Despite these governance issues, the organization has performed well in certain financial metrics, such as achieving a full score for its program expense ratio and receiving perfect marks for its financial statements audit and material diversion of assets. This suggests that while the foundation may effectively manage its funds, the overall governance structure and lack of transparency could hinder its credibility and effectiveness.
The absence of independent oversight and documented policies raises questions about the foundation's commitment to good governance practices. Stakeholders may want to consider these factors when assessing Pheaa Student Loan Foundation Inc's overall impact and reliability as a nonprofit organization.
This AI summary has been generated from information found on Charity Navigator.
Is Pheaa Student Loan Foundation Inc legitimate?
Pheaa Student Loan Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Pheaa Student Loan Foundation 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
What is the mission statement of Pheaa Student Loan Foundation Inc?
The Pheaa Student Loan Foundation, a nonprofit organization, is dedicated to facilitating Student Loan securitization transactions. Established under Pennsylvania's nonprofit corporation law, its primary purpose is to manage and process student loans. By securitizing these loans, the Foundation aims to provide financial assistance for higher education, making it more accessible for students. The organization's objective is to help students meet their educational expenses and ease their financial burden. Additionally, it may offer support services or resources to ensure students can successfully repay their loans.
Who is the CEO of Pheaa Student Loan Foundation Inc?
William Walker is the President And Director of Pheaa Student Loan Foundation Inc.
What is the revenue of Pheaa Student Loan Foundation Inc?
Pheaa Student Loan Foundation Inc's revenue in 2023 was $104,214,880.
Who are the executives of Pheaa Student Loan Foundation Inc and what are their salaries?
There 1 volunteer at Pheaa Student Loan Foundation Inc.
Here are 6 key members and their salaries:
- Compensation: $0
- Related: $217,100
- Other: $13,962
- Compensation: $0
- Related: $209,006
- Other: $13,494
- Compensation: $0
- Related: $139,723
- Other: $9,014
- Compensation: $0
- Related: $3,000
- Other: $0
- Compensation: $0
- Related: $2,750
- Other: $0
- Compensation: $0
- Related: $250
- Other: $0
Where can I find the form 990 for Pheaa Student Loan Foundation Inc?
Pheaa Student Loan Foundation Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Pheaa Student Loan Foundation Inc
The Pheaa Student Loan Foundation, a Pennsylvania-based nonprofit organization, is dedicated to facilitating Student Loan securitization transactions. Established in 1988, the Foundation operates as a non-stock and nonprofit corporation, working to streamline the student loan process for various educational institutions and their students.
In simpler terms, the Pheaa Student Loan Foundation acts as an intermediary, bringing together student loan originators and investors in the securitization market. By pooling together student loans and selling them as securities, the Foundation provides a valuable service, enabling educational institutions to manage their student loan portfolios more effectively while offering investors an opportunity to participate in this asset class. The Foundation's mission is instrumental in ensuring accessible student financing, ultimately benefiting students and educational institutions alike.
Furthermore, the Pheaa Student Loan Foundation's activities contribute to the financial stability of the student loan market. Through its securitization transactions, the organization helps manage risk, improve liquidity, and enhance transparency in the student loan market. This stability is crucial for students and educational institutions, ensuring they have access to reliable and affordable student financing options when needed.
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Impact
October, 2024
Pheaa Student Loan Foundation Inc plays a crucial role in the landscape of education finance by facilitating student loan securitization transactions. By effectively managing and streamlining these processes, the organization helps provide access to necessary funding for students pursuing higher education. Its operations contribute to the availability of financial resources that support educational opportunities, enabling borrowers to obtain loans under favorable conditions. This impact extends beyond financing, as it also promotes the stability and sustainability of student loan markets, ultimately benefiting students, families, and educational institutions across Pennsylvania and beyond. Through its commitment to public benefit, Pheaa Student Loan Foundation Inc enhances the ability of students to achieve their educational goals.
This information is meant to be a general summary of Pheaa Student Loan Foundation 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 2023.
- Investment Income: $2,850,293
- Program Service Revenue: $101,364,587
- Gross Receipts: $104,214,880
Assets and Liabilities:
- Total Assets: $1,729,101,883
- Total Liabilities: $1,551,837,389
- Net Assets: $177,264,494
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
STUDENT LOAN INTEREST
Revenue
$101,364,587
Organization Details
Founding Year
2002
Phone
(717) 720-2023Principal Officer
William Walker
Main Address
1200 NORTH SEVENTH STREET, HARRISBURG, PA, 17102
NTEE Category
Code: W60 - Public benefit
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