Overview
What is Brazos Higher Education Service Corporation Inc?
Brazos Higher Education Service Corporation Inc, also known as Brazos Higher Education, is a nonprofit organization based in Waco, Texas. With a team of 35 employees, their primary mission is to provide management and administrative support for affiliated student loan entities. They serve as the master servicer and administrator for entities under various loan programs, including the Federal Family Education Loan Program (FFELP), HEAL, TERI, and alternative loan programs. Their services encompass administering student loans with over $2.7 billion in outstanding principal.
Official website here: www.studentloans.com
What are the reviews and ratings of this charity?
Charity Navigator Rating 96%
Brazos Higher Education Service Corporation Inc has received a Four-Star out of Four Star rating from Charity Navigator, reflecting its strong accountability and financial health. With a score of 96%, the organization demonstrates excellent management practices, including a fully independent board and well-documented financial statements. Their commitment to transparency is further evidenced by having comprehensive policies in place for conflict of interest and whistleblower protections.
The organization boasts a solid program expense ratio of 84.62%, indicating that the majority of its funding is directed toward its educational services. This suggests a strong focus on fulfilling its mission to support higher education, which is a significant strength for potential donors and stakeholders. Additionally, their liabilities to assets ratio of 4.80% highlights prudent financial management and a low level of debt.
While the ratings reflect a robust operation, the feedback indicates that continued emphasis on independence and financial oversight will be crucial as the organization grows. Ensuring ongoing transparency and community engagement will be essential for maintaining trust with supporters and beneficiaries alike.
This AI summary has been generated from information found on Charity Navigator.
Is Brazos Higher Education Service Corporation Inc legitimate?
Brazos Higher Education Service Corporation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Brazos Higher Education Service Corporation 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: $3,512,143
Professional Fundraising Fees: $0
Other Salaries and Wages: $2,248,959
For more financial information, click here
Official website here: www.studentloans.com
What is the mission statement of Brazos Higher Education Service Corporation Inc?
Brazos Higher Education Service Corporation Inc serves a crucial role in the education sector by offering administrative and management support to affiliated student loan entities. In essence, BHESC functions as a master servicer/administrator, overseeing student loans with a collective outstanding principal amount exceeding $2.7 billion, primarily under the Federal Family Education Loan Program (FFELP), HEAL, TERI, and various alternative loan programs. The organization's primary objective is to effectively manage and support these entities in providing student loans to help individuals access higher education. This, in turn, enables students to pursue their academic goals and potentially advance their careers. BHESC's role is instrumental in ensuring the smooth operation of student loan programs, thereby contributing to the overall educational landscape.
Official website here: www.studentloans.com
Who is the CEO of Brazos Higher Education Service Corporation Inc?
Ricky Turman is the President/Ceo of Brazos Higher Education Service Corporation Inc. The CEO's salary of Brazos Higher Education Service Corporation Inc is $707,065 and their total compensation is $775,096.
Official website here: www.studentloans.com
What is the revenue of Brazos Higher Education Service Corporation Inc?
Brazos Higher Education Service Corporation Inc's revenue in 2022 was $12,631,577.
Official website here: www.studentloans.com
Who are the executives of Brazos Higher Education Service Corporation Inc and what are their salaries?
The average compensation at Brazos Higher Education Service Corporation Inc during 2022 was $164,603. There are 35 employees and 6 volunteers at Brazos Higher Education Service Corporation Inc.
Here are 22 key members and their salaries (Brazos Higher Education Service Corporation Inc's CEO's salary is $707,065 and their total compensation is $775,096):
- Compensation: $707,065
- Related: $0
- Other: $68,031
- Compensation: $593,678
- Related: $0
- Other: $71,273
- Compensation: $341,729
- Related: $0
- Other: $63,567
- Compensation: $285,677
- Related: $0
- Other: $64,574
- Compensation: $252,307
- Related: $0
- Other: $54,867
- Compensation: $234,378
- Related: $0
- Other: $57,610
- Compensation: $240,089
- Related: $0
- Other: $48,437
- Compensation: $226,544
- Related: $0
- Other: $55,808
- Compensation: $222,983
- Related: $0
- Other: $58,797
- Compensation: $186,941
- Related: $0
- Other: $46,110
- Compensation: $184,388
- Related: $0
- Other: $39,656
- Compensation: $0
- Related: $165,692
- Other: $46,600
- Compensation: $169,540
- Related: $0
- Other: $37,801
- Compensation: $131,448
- Related: $0
- Other: $20,232
- Compensation: $84,031
- Related: $0
- Other: $18,574
- Compensation: $77,501
- Related: $0
- Other: $21,878
- 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
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.studentloans.com
Where can I find the form 990 for Brazos Higher Education Service Corporation Inc?
Brazos Higher Education Service Corporation 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 Higher Education Service Corporation Inc
Brazos Higher Education Service Corporation Inc, a key player in the educational financing sector, is dedicated to providing essential administrative and managerial support for affiliated student loan entities. With a mission to serve as a master servicer and administrator, this non-profit organization manages and oversees student loans with outstanding principals exceeding $2.7 billion under various programs, including the Federal Family Education Loan Program (FFELP), HEAL, TERI, and multiple alternative loan initiatives.
By assuming this role, Brazos Higher Education Service Corporation Inc ensures the smooth operation of these affiliated entities, allowing them to focus on their primary goals of providing valuable educational opportunities to students. Through its expert management and administrative services, the organization plays a crucial role in the student loan process, enabling more individuals to access higher education and ultimately improve their lives.
The scope of Brazos Higher Education Service Corporation Inc's services encompasses administering loans under the FFELP, a federal student loan program, which is one of the largest and most widely used programs to help students and families pay for college. Alongside FFELP, the organization manages loans through HEAL (Health Education Assistance Loans), TERI (Teacher Education Assistance for College and Higher Education), and a range of alternative loan programs. The depth and breadth of these services enable Brazos Higher Education Service Corporation Inc to make a significant impact on the educational landscape, helping students and their families navigate the complex world of student financing.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
October, 2024
Brazos Higher Education Service Corporation Inc plays a vital role in the education financing landscape by providing essential management and administrative support for affiliated student loan entities. With their expertise, they administer student loans with an outstanding principal exceeding $2.7 billion under various programs, including the Federal Family Education Loan Program (FFELP), HEAL, TERI, and alternative loan programs.
By serving as a master servicer and administrator, Brazos facilitates smooth loan management, which is crucial for student borrowers navigating the complexities of educational financing. The impact of their services extends to improving access to higher education, empowering students to pursue their academic goals without the burden of financial management, and fostering a supportive framework for educational financing. Through these efforts, they contribute significantly to the overall effort of enhancing educational opportunities and supporting students in their pursuit of higher education.
This information is meant to be a general summary of Brazos Higher Education Service Corporation 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: $2,955,369
- Program Service Revenue: $9,391,057
- Gross Receipts: $12,631,577
Assets and Liabilities:
- Total Assets: $152,724,525
- Total Liabilities: $11,180,803
- Net Assets: $141,543,722
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Operating Income
Revenue
$7,958,143
Beneficial Interest (M&O)
Revenue
$1,105,000
Commission Income
Revenue
$327,914
Organization Details
Founding Year
1980
Phone
(254) 753-0915Principal Officer
Ricky Turman
Main Address
5609 Crosslake Pkwy, Waco, TX, 76712
Website
www.studentloans.comNTEE Category
Code: B82Z - Education
If you are a representative of Brazos Higher Education Service Corporation Inc and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.