Overview
What is Federated Student Finance Corporation?
Federated Student Finance Corporation, located in Waco, Texas, is a nonprofit organization dedicated to making education accessible by supporting initiatives that finance educational opportunities. Functioning as a secondary market for college loans under the Federal Family Education Loan Program (FFELP), they provide funding through permanent financings. The corporation's mission extends beyond offering financial aid, aiming to make education a reality for a wide range of individuals. They accomplish this by backing various programs and initiatives, thereby enabling numerous students to seize educational opportunities.
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)
The Federated Student Finance Corporation has received a Three-Star rating from Charity Navigator, reflecting an overall score of 81%. This score is solely based on the organization's Accountability & Finance metrics, indicating strong management and financial health. Notably, the organization boasts a fully independent board, with all eight members being independent, which enhances transparency and governance.
Strengths of the organization include a perfect score in several areas such as financial audits, material diversion of assets, and program expense ratio, indicating that 100% of its expenses are directed toward its programs. The presence of well-defined policies regarding conflicts of interest, whistleblowing, and document retention further underscores its commitment to accountability and ethical management practices.
However, the high salaries of key personnel may raise questions about compensation practices within the organization, particularly in the context of its mission. While the financial stability and governance are commendable, stakeholders might want to consider how these salaries align with the overall mission and impact of the organization.
This AI summary has been generated from information found on Charity Navigator.
Is Federated Student Finance Corporation legitimate?
Federated Student Finance Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Federated Student Finance Corporation 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 Federated Student Finance Corporation?
Federated Student Finance Corporation, as a secondary market for college loans under the Federal Family Education Loan Program (FFELP), has a mission to make education a reality by supporting initiatives and programs that finance educational opportunities. The corporation's goal is to provide financial assistance for higher education, enabling students to pursue their academic journeys. Through its operations, Federated Student Finance Corporation funds student loans under Title IV FFELP, ensuring that educational opportunities remain accessible.
Official website here: www.studentloans.com
Who is the CEO of Federated Student Finance Corporation?
Ricky Turman is the President/Ceo of Federated Student Finance Corporation. The CEO's salary of Federated Student Finance Corporation is $0 and their total compensation is $775,096.
Official website here: www.studentloans.com
What is the revenue of Federated Student Finance Corporation?
Federated Student Finance Corporation's revenue in 2022 was $1,359,815.
Official website here: www.studentloans.com
Who are the executives of Federated Student Finance Corporation and what are their salaries?
There 7 volunteers at Federated Student Finance Corporation.
Here are 14 key members and their salaries (Federated Student Finance Corporation'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
- 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 Federated Student Finance Corporation?
Federated Student Finance Corporation'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 Federated Student Finance Corporation
Federated Student Finance Corporation, abbreviated as FSFC, is committed to making education a tangible reality for individuals by backing various programs and initiatives aimed at financing educational opportunities. As a secondary market for college loans under the Federal Family Education Loan Program (FFELP), FSFC's mission is to support the expansion of educational prospects by purchasing and managing student loans. FSFC's operations are based on the funding of these loans through permanent financings. The corporation's ultimate goal is to ensure that education remains an accessible and attainable option for numerous individuals, thereby empowering them to pursue their academic aspirations.
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Impact
July, 2024
Federated Student Finance Corporation's impact lies in its mission to make education a reality by supporting programs and initiatives that finance educational opportunities. By holding student loans under the Title IV Family Education Loan Program (FFELP), Federated Student Finance Corporation helped students access the necessary funding to pursue their educational goals. Through its activities as a secondary market for college loans, FSFC played a significant role in facilitating access to education for numerous students. The organization's dedication to supporting educational initiatives underscores its commitment to fostering academic advancement and empowering individuals to achieve their full potential.
This information is meant to be a general summary of Federated Student Finance Corporation. 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: $3,558
- Program Service Revenue: $1,355,896
- Gross Receipts: $1,359,815
Assets and Liabilities:
- Total Assets: $41,261,167
- Total Liabilities: $45,679,650
- Net Assets: -$4,418,483
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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
$1,345,487
Late Charges
Revenue
$10,409
Organization Details
Founding Year
1989
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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