Overview
What is New Mexico Student Loan Guarantee Corporation?
The New Mexico Student Loan Guarantee Corporation is a nonprofit organization situated in Albuquerque, New Mexico. Their primary mission is to provide quality financial services and foster strong professional relationships to encourage and aid in the pursuit of higher education. By doing so, they aim to enhance the quality of life and future success of their stakeholders. Under the Federal Family Educational Loan Program (FFELP), they are required to collect on defaulted loans. The corporation employs a team of five individuals, demonstrating their commitment to their mission.
Official website here: www.nmslgc.org
What are the reviews and ratings of this charity?
**Charity Navigator Rating: 96%, Four-Star out of Four Star Rating**
The New Mexico Student Loan Guarantee Corporation has received a significant Four-Star rating from Charity Navigator, indicating a strong performance in accountability and finance. This rating reflects a high score of 96 in these categories, showcasing the organization’s commitment to responsible financial management and transparency. The independent governance structure, with all board members being independent, further enhances its trustworthiness.
Key strengths include a strong program expense ratio of 75.84%, indicating that the majority of funds are directed towards fulfilling its mission. The organization has also implemented sound policies, including conflict of interest and whistleblower policies, which are crucial for maintaining integrity and accountability. However, while it excels in financial practices, it has not been evaluated for its impact and measurement or cultural aspects, which are important for understanding its overall effectiveness.
User reviews from GreatNonprofits could not be fetched, thus no sentiment analysis can be gleaned from those insights. Overall, based on the available data, the New Mexico Student Loan Guarantee Corporation appears to be a well-managed nonprofit with a strong focus on accountability and direct mission-related expenses.
This AI summary has been generated from information found on Charity Navigator.
Is New Mexico Student Loan Guarantee Corporation legitimate?
New Mexico Student Loan Guarantee Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. New Mexico Student Loan Guarantee 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: $220,177
Professional Fundraising Fees: $0
Other Salaries and Wages: $599,445
For more financial information, click here
Official website here: www.nmslgc.org
What is the mission statement of New Mexico Student Loan Guarantee Corporation?
The New Mexico Student Loan Guarantee Corporation is an organization dedicated to offering top-notch financial services and fostering strong professional relationships. Their primary goal is to motivate and aid individuals in pursuing higher education, thereby enhancing their quality of life and future success. By doing so, they aim to contribute positively to the lives of their stakeholders. Under the Federal Family Educational Loan Program (FFELP), the Corporation is obligated to collect on defaulted loans.
Official website here: www.nmslgc.org
What is the revenue of New Mexico Student Loan Guarantee Corporation?
New Mexico Student Loan Guarantee Corporation's revenue in 2023 was $5,481,016.
Official website here: www.nmslgc.org
Who are the executives of New Mexico Student Loan Guarantee Corporation and what are their salaries?
The average compensation at New Mexico Student Loan Guarantee Corporation during 2023 was $204,906. There are 4 employees at New Mexico Student Loan Guarantee Corporation.
Here are 11 key members and their salaries:
- Compensation: $0
- Related: $196,484
- Other: $23,010
- Compensation: $0
- Related: $157,164
- Other: $27,697
- Compensation: $0
- Related: $137,707
- Other: $32,575
- Compensation: $0
- Related: $128,221
- Other: $18,063
- Compensation: $0
- Related: $103,894
- Other: $23,888
- 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.nmslgc.org
Where can I find the form 990 for New Mexico Student Loan Guarantee Corporation?
New Mexico Student Loan Guarantee Corporation's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.nmslgc.org
Learn more at the official website: www.nmslgc.org
Mission Statement of New Mexico Student Loan Guarantee Corporation
The New Mexico Student Loan Guarantee Corporation is an organization dedicated to providing top-notch financial services and fostering strong professional relationships. Its primary mission is to encourage and aid in the pursuit of higher education, with the ultimate goal of enhancing the quality of life and future success of its stakeholders. The corporation operates under the Federal Family Educational Loan Program (FFELP), and as a guarantee corporation, it is required to collect on defaulted loans. This role allows the corporation to play a crucial part in supporting students in their educational journey, ensuring that they have the necessary financial resources to achieve their academic goals.
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
July, 2024
The New Mexico Student Loan Guarantee Corporation's impact is focused on providing quality financial services and cultivating strong professional relationships to encourage and assist individuals in pursuing higher education. By offering student loan programs under the Federal Family Educational Loan Program (FFELP), the organization plays a crucial role in supporting individuals in accessing funding for their education. Additionally, by collecting on defaulted loans, the corporation helps maintain the sustainability of the program and ensures resources are available for future students. Through its mission, the New Mexico Student Loan Guarantee Corporation contributes to enhancing the quality of life and future success of its stakeholders, ultimately making a positive impact in the education sector.
This information is meant to be a general summary of New Mexico Student Loan Guarantee 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 2023.
- Investment Income: $78,362
- Program Service Revenue: $5,402,654
- Gross Receipts: $5,481,016
Assets and Liabilities:
- Total Assets: $13,741,914
- Total Liabilities: $221,849
- Net Assets: $13,520,065
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.
RETAINED COLLECTIONS
Revenue
$5,251,425
ACCOUNT MAINTENANCE
Revenue
$147,707
CRI LOCATE REVENUE
Revenue
$3,522
Organization Details
Founding Year
1981
Principal Officer
Brad Allpass
Website
www.nmslgc.orgNTEE Category
Code: B82 - Education
If you are a representative of New Mexico Student Loan Guarantee Corporation 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.