Liabilities / Assets
30th percentile
Higher debt load relative to assets than 30% of similar nonprofits.
Panhandle Plains Management & Servicing Corporation
990 • Fiscal year 2018 • EIN 45-5543346
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
0.04x
Liabilities / Revenue
35th percentile
Higher debt load relative to revenue than 35% of similar nonprofits.
Net Margin
84th percentile
Higher net margin than 84% of similar nonprofits.
Top Officer Pay
84th percentile
Higher top officer pay than 84% of similar nonprofits.
Top officer pay equals 5.1% of source-year revenue.
Asset Growth
81st percentile
Faster asset growth than 81% of similar nonprofits.
Revenue Growth
21st percentile
Faster revenue growth than 21% of similar nonprofits.
Balance Sheet
Assets
Up$9,847,506
Up $1,380,156 (+16%) from 2017
Net Assets
Up$9,431,000
Up $1,491,032 (+19%) from 2017
Liabilities
Down$416,506
Down $110,876 (-21%) from 2017
Revenue And Expenses
Revenue
Down$4,814,114
Down $461,887 (-8.8%) from 2017
Expenses
Down$3,323,082
Down $310,743 (-8.6%) from 2017
Net Income
Down$1,491,032
Down $151,144 (-9.2%) from 2017
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jan 1, 2018 to Dec 31, 2018
- Signed
- Nov 5, 2019
- Return Version
- 2018v3.1
- Gross Receipts
- $4,814,114
Mission and Program Overview
Mission
Master student loan servicer for panhandle-plains higher education authority, inc. (pphea), panhandle-plains student finance corporation (ppsfc), and other organizations. The corporation also performs management and oversight services for pphea and ppsfc, of which both are also related not-for-profit organizations. Also provides educational and charitable programs to decrease student loan defaults, promote financial aid outreach and financial literacy.
Balance Sheet Detail
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Cash and Non-Interest-Bearing Accounts | $5,545,501 | $8,024,647 | ▲ $2,479,146 |
| Intangible Assets | $1,657,027 | $699,694 | ▼ $957,333 |
| Accounts Receivable | $725,554 | $593,016 | ▼ $132,538 |
| Land, Buildings, and Equipment, Net | $411,629 | $412,307 | ▲ $678 |
| Prepaid Expenses and Deferred Charges | $109,014 | $103,297 | ▼ $5,717 |
| Other Notes and Loans Receivable, Net | $18,625 | $14,545 | ▼ $4,080 |
| Total Assets | $8,467,350 | $9,847,506 | ▲ $1,380,156 |
| Liabilities | |||
| Accounts Payable and Accrued Expenses | $527,382 | $416,506 | ▼ $110,876 |
| Total Liabilities | $527,382 | $416,506 | ▼ $110,876 |
| Net Assets / Fund Balance | |||
| Unrestricted Net Assets | $7,939,968 | $9,431,000 | ▲ $1,491,032 |
| Total Net Assets Fund Balance | $7,939,968 | $9,431,000 | ▲ $1,491,032 |
| Total Liabilities and Net Assets / Fund Balance | $8,467,350 | $9,847,506 | ▲ $1,380,156 |
Asset Categories
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Buildings | $269,573 | $25,850 | $295,423 |
| Equipment | $23,530 | $121,047 | $144,577 |
| Land | $107,208 | - | $107,208 |
| Other Land Buildings | $11,996 | $70,472 | $82,468 |
Compensation and Service Providers
Employees
| Name | Title | Full / Part Time | Base | Other | Total |
|---|---|---|---|---|---|
| Jimmy Parker | President | PT | $196,206 | $51,352 | $247,558 |
| John Wright | Sr Vice Pres | PT | $176,957 | $44,985 | $221,942 |
| John Wright | Sr Vice President | - | $161,957 | $59,985 | $221,942 |
| Zach Bell | CFO | PT | $120,473 | $52,220 | $172,693 |
| Earl Hudgins | Sr Vice Pres | PT | $101,295 | $2,731 | $104,026 |
Board Members and Trustees
| Name | Title |
|---|---|
| Quinn Alexander | Chairman |
| Michael P Ryan | Vice Chairma |
| Jan Benton | Director |
| Tammy Roark | Secretary |
Highest Paid Contractors
| Contractor | Services | Location | Compensation |
|---|---|---|---|
| Xerox Education Services INC | Loan Sub-servic | PO BOX 201322, Dallas, TX 75320 | $2,483,843 |
| Nelnet INC | Loan Sub-servic | PO BOX 82561, Lincoln, NE 68501-2561 | $1,949,780 |
Revenue and Support
Revenue Composition
- Contributions and Grants
- $0
- Program Service Revenue
- $4,814,088
- Investment Income
- $26
- Other Revenue
- $0
- Change in Net Assets
- $1,491,032
Audited Revenue Reconciliation
- Revenue per Audited Statements
- $4,814,114
- Total Revenue per Audited Statements
- $4,814,114
- Total Revenue per Form 990
- $4,814,114
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Salaries, Compensation, and Employee Benefits | $1,775,827 |
| Other Expenses | $1,540,555 |
| Grants and Similar Amounts Paid | $6,700 |
| Professional Fundraising Fees | $0 |
| Total Fundraising Expense | $0 |
Functional Expense Allocation
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Depreciation Depletion | $972,766 | - | - | $972,766 |
| Other Salaries and Wages | $653,632 | $116,268 | - | $769,900 |
| Current Officers, Directors, Trustees, and Key Employees | $412,191 | $186,476 | - | $598,667 |
| Other Employee Benefits | $164,760 | $35,594 | - | $200,354 |
| Fees for Services Other | $135,128 | $33,225 | - | $168,353 |
| Pension Plan Contributions | $92,580 | $19,418 | - | $111,998 |
| Payroll Taxes | $78,970 | $15,938 | - | $94,908 |
| Information Technology | $49,788 | $38,288 | - | $88,076 |
| Office Expenses | $37,003 | $37,003 | - | $74,006 |
| Occupancy | $30,022 | $30,021 | - | $60,043 |
| Insurance | $24,240 | $24,240 | - | $48,480 |
| Travel | $17,787 | $17,787 | - | $35,574 |
| Fees for Services Accounting | $22,000 | - | - | $22,000 |
| Fees for Services Legal | $12,779 | - | - | $12,779 |
| Grants to Domestic Individuals | $6,700 | - | - | $6,700 |
| Advertising | $2,575 | - | - | $2,575 |
| All Other Expenses | $113 | $281 | - | $394 |
| Other Expenses | $174 | $172 | - | $346 |
| Total Functional Expenses | $2,740,789 | $582,293 | $0 | $3,323,082 |
Audited Expense Reconciliation
| Line Item | Amount |
|---|---|
| Expenses per Audited Statements | $3,323,082 |
| Total Expenses per Audited Statements | $3,323,082 |
| Total Expenses per Form 990 | $3,323,082 |
Fundraising, Events, and Gaming
- Fundraising activities
- No
- Gaming activities
- No
- Professional fundraiser used
- No
Fundraising and Gaming Totals
| Line Item | Amount |
|---|---|
| Professional Fundraising Fees | $0 |
Political and Lobbying Activity
- Political campaign activity
- No
- Lobbying activity
- No
- Subject to proxy tax
- No
Governance and Compliance
Governance Checklist
- Compiled or reviewed by an accountant
- No
- Annual disclosure for covered persons
- Yes
- Audit committee
- Yes
- Business relationship with family members
- No
- Business relationship with organization members
- No
- Material changes to governing documents
- No
- Compensation from other sources disclosed
- No
- CEO compensation reviewed
- Yes
- Other officer compensation reviewed
- Yes
- Conflict-of-interest policy
- Yes
- Audited financial statements prepared
- No
- Key decisions subject to board approval
- No
- Management duties delegated
- No
Governance Explanations
Form 990, Page 6, Part VI, Line 11B
“The board of directors of panhandle-plains management & servicing corporation is provided an electronic copy of the form 990 one week prior to filing. The directors then have a week to review and give comments before the return is filed with the internal revenue service.”
Form 990, Page 6, Part VI, Line 12C
“The board members of panhandle-plains management & servicing corporation are required to update their conflict of interest statement at the annual board of directors meeting, held during may of each year. A record of this is kept in the minutes of the board meeting.”
Form 990, Page 6, Part VI, Line 15A
“During the annual budget approval process the board of directors approve the salaries of all employees, including president and key employees. The board also included a 3% raise for all employees for 2018.”
Form 990, Page 6, Part VI, Line 15B
“During the annual budget approval process the board of directors approve the salaries of all employees, including president and key employees. The board also included a 3% raise for all employees for 2018.”
Form 990, Page 6, Part VI, Line 19
“Panhandle-plains management & servicing corporation makes all governing documents, policies, annual audited financial statements and form 990s available upon request. Articles of incorporation and public documents are public information and are available from the texas secretary of state.”
Filing and Contact Details
Filer
- Filer Name
- Panhandle-plains Management &
- EIN
- 45-5543346
- Phone
- 8063244115
- Address
- 1303 23RD STREET, CANYON, TX 79015
- Doing Business As
- See Schedule O
Signing Officer
- Name
- Jimmy Parker
- Title
- President
- Phone
- 8063244115
- Signed
- 2019-11-05
- Discuss with paid preparer
- Yes
Organization Details
- Principal Officer
- Jimmy Parker
- Formed
- 2012
- Legal Domicile
- TX
- Voting Board Members
- 4
- Independent Board Members
- 4
- Employees
- 15
Preparer
- Firm
- Johnson & Sheldon Pllc
- Address
- PO BOX 509, AMARILLO, TX 79105-0509
- Preparer
- Richard W Blankenship CPA
- Phone
- 8063717661
Supplemental Narrative
Additional Explanations
Form 990, Page 1, Item C
“See schedule o panhandle-plains student loan center”
FORM 990 - ORGANIZATION'S MISSION
“Master student loan servicer for panhandle-plains higher education authority, inc. (pphea), panhandle-plains student finance corporation (ppsfc), and other organizations. The corporation also performs management and oversight services for pphea and ppsfc, of which both are also related not-for-profit organizations. Also provides educational and charitable programs to decrease student loan defaults, promote financial aid outreach and financial literacy.”
Form 990, Page 2, Part III, Line 4D
“In conjunction with the panhandle non-profits, we have developed and introduced the student loan assistance manager (slam), which is a cohort default rate management system created to import national student loan data systems (nslds) data and allow schools to undertake default prevention activities. The system provides the school with user-friendly access to nslds data on the student loans of borrowers who attended the school and can be used to identify borrowers for default aversion activities and to estimate the institution's cohort default rate (which is important for schools to have continued eligibility to participate and receive title iv student aid funds for their students). During the fiscal year 2017-2018, ppmsc began an outreach program with four coordinators with the purpose of educating junior and senior high school students attending small independent school districts' about financial aid. For the the 2018 calendar year, the organization presented information to approximately 2,818 students in 76 schools.”
Financial Statement Notes
Schedule D, Page 3, Part X
“The corporation is exempt from federal income tax under section 501(c)(3) of the internal revenue code (irc), and has been determined not to be a private foundation under section 509(a) of the irc. As a result, except for unrelated business income taxes for a small portion of the corporation's unrelated for-profit lenders, income taxes are not included in the accompanying financial statements. The corporation complies with fasb asb topic 740, accounting for uncertainty in income taxes (asc topic 740), which addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under this guidance, the corporation may recognize the tax benefit from an uncertain tax position only if it is more-likely-than-not that the tax position will be sustained on examination by taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such positions are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. The guidance on accounting for uncertainty in income taxes also address de-recognition, classification, interest and penalties on income taxes, and accounting in interim periods. Management evaluated the corporation's tax positions and concluded that the corporation had taken no uncertain tax positions that require adjustment to the financial statements to comply with the provisions of this guidance. With few exceptions, the corporation is no longer subject to income tax examinations by the u.s. Federal tax authorities for years ending before december 31, 2015.”
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| IRS990/GrantsToDomesticIndividualsGrp/TotalAmt | 0 | 6700 |
| IRS990/GrantsToIndividualsInd | 0 | true |
| IRS990/GrantsToOrganizationsInd | 0 | false |
| IRS990/GrantToRelatedPersonInd | 0 | false |
| IRS990/GrossReceiptsAmt | 0 | 4814114 |
| IRS990/GroupReturnForAffiliatesInd | 0 | false |
| IRS990/IncludeFIN48FootnoteInd | 0 | true |
| IRS990/IndependentAuditFinclStmtInd | 0 | true |
| IRS990/IndependentVotingMemberCnt | 0 | 4 |
| IRS990/IndivRcvdGreaterThan100KCnt | 0 | 4 |
| IRS990/IndoorTanningServicesInd | 0 | false |
| IRS990/InfoInScheduleOPartIIIInd | 0 | X |
| IRS990/InfoInScheduleOPartVIInd | 0 | X |
| IRS990/InformationTechnologyGrp/ManagementAndGeneralAmt | 0 | 38288 |
| IRS990/InformationTechnologyGrp/ProgramServicesAmt | 0 | 49788 |
| IRS990/InformationTechnologyGrp/TotalAmt | 0 | 88076 |
| IRS990/InsuranceGrp/ManagementAndGeneralAmt | 0 | 24240 |
| IRS990/InsuranceGrp/ProgramServicesAmt | 0 | 24240 |
| IRS990/InsuranceGrp/TotalAmt | 0 | 48480 |
| IRS990/IntangibleAssetsGrp/BOYAmt | 0 | 1657027 |
| IRS990/IntangibleAssetsGrp/EOYAmt | 0 | 699694 |
| IRS990/InvestmentIncomeGrp/ExclusionAmt | 0 | 26 |
| IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt | 0 | 26 |
| IRS990/InvestmentInJointVentureInd | 0 | false |
| IRS990/IRPDocumentCnt | 0 | 11 |
| IRS990/IRPDocumentW2GCnt | 0 | 0 |
| IRS990/LandBldgEquipAccumDeprecAmt | 0 | 217369 |
| IRS990/LandBldgEquipBasisNetGrp/BOYAmt | 0 | 411629 |
| IRS990/LandBldgEquipBasisNetGrp/EOYAmt | 0 | 412307 |
| IRS990/LandBldgEquipCostOrOtherBssAmt | 0 | 629676 |
| IRS990/LegalDomicileStateCd | 0 | TX |
| IRS990/LoanOutstandingInd | 0 | false |
| IRS990/LobbyingActivitiesInd | 0 | false |
| IRS990/LocalChaptersInd | 0 | false |
| IRS990/MaterialDiversionOrMisuseInd | 0 | false |
| IRS990/MembersOrStockholdersInd | 0 | false |
| IRS990/MethodOfAccountingAccrualInd | 0 | X |
| IRS990/MinutesOfCommitteesInd | 0 | true |
| IRS990/MinutesOfGoverningBodyInd | 0 | true |
| IRS990/MissionDesc | 0 | MASTER STUDENT LOAN SERVICER FOR PANHANDLE-PLAINS HIGHER EDUCATION AUTHORITY, INC. (PPHEA), PANHANDLE-PLAINS STUDENT FINANCE CORPORATION (PPSFC), AND OTHER ORGANIZATIONS. THE CORPORATION ALSO PERFORMS MANAGEMENT AND OVERSIGHT SERVICES FOR PPHEA AND PPSFC, OF WHICH BOTH ARE ALSO RELATED NOT-FOR-PROFIT ORGANIZATIONS. ALSO PROVIDES EDUCATIONAL AND CHARITABLE PROGRAMS TO DECREASE STUDENT LOAN DEFAULTS, PROMOTE FINANCIAL AID OUTREACH AND FINANCIAL LITERACY. |
| IRS990/MoreThan5000KToIndividualsInd | 0 | false |
| IRS990/MoreThan5000KToOrgInd | 0 | false |
| IRS990/NetAssetsOrFundBalancesBOYAmt | 0 | 7939968 |
| IRS990/NetAssetsOrFundBalancesEOYAmt | 0 | 9431000 |
| IRS990/NondeductibleContributionsInd | 0 | false |
| IRS990/OccupancyGrp/ManagementAndGeneralAmt | 0 | 30021 |
| IRS990/OccupancyGrp/ProgramServicesAmt | 0 | 30022 |
| IRS990/OccupancyGrp/TotalAmt | 0 | 60043 |
| IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt | 0 | 37003 |
| IRS990/OfficeExpensesGrp/ProgramServicesAmt | 0 | 37003 |
| IRS990/OfficeExpensesGrp/TotalAmt | 0 | 74006 |
| IRS990/OfficerMailingAddressInd | 0 | false |
| IRS990/OperateHospitalInd | 0 | false |
| IRS990/Organization501c3Ind | 0 | X |
| IRS990/OrganizationFollowsSFAS117Ind | 0 | X |
| IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt | 0 | 35594 |
| IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt | 0 | 164760 |
| IRS990/OtherEmployeeBenefitsGrp/TotalAmt | 0 | 200354 |
| IRS990/OtherExpensesGrp/Desc | 0 | TELEPHONE AND COMMUNICATI |
| IRS990/OtherExpensesGrp/Desc | 1 | DUES AND SUBSCRIPTIONS |
| IRS990/OtherExpensesGrp/Desc | 2 | TRAINING |
| IRS990/OtherExpensesGrp/Desc | 3 | MISCELLANEOUS EXPENSES |
| IRS990/OtherExpensesGrp/ManagementAndGeneralAmt | 0 | 20663 |
| IRS990/OtherExpensesGrp/ManagementAndGeneralAmt | 1 | 6631 |
| IRS990/OtherExpensesGrp/ManagementAndGeneralAmt | 2 | 288 |
| IRS990/OtherExpensesGrp/ManagementAndGeneralAmt | 3 | 172 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 0 | 20663 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 1 | 6630 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 2 | 288 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 3 | 174 |
| IRS990/OtherExpensesGrp/TotalAmt | 0 | 41326 |
| IRS990/OtherExpensesGrp/TotalAmt | 1 | 13261 |
| IRS990/OtherExpensesGrp/TotalAmt | 2 | 576 |
| IRS990/OtherExpensesGrp/TotalAmt | 3 | 346 |
| IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt | 0 | 116268 |
| IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt | 0 | 653632 |
| IRS990/OtherSalariesAndWagesGrp/TotalAmt | 0 | 769900 |
| IRS990/OthNotesLoansReceivableNetGrp/BOYAmt | 0 | 18625 |
| IRS990/OthNotesLoansReceivableNetGrp/EOYAmt | 0 | 14545 |
| IRS990/PartialLiquidationInd | 0 | false |
| IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt | 0 | 15938 |
| IRS990/PayrollTaxesGrp/ProgramServicesAmt | 0 | 78970 |
| IRS990/PayrollTaxesGrp/TotalAmt | 0 | 94908 |
| IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt | 0 | 19418 |
| IRS990/PensionPlanContributionsGrp/ProgramServicesAmt | 0 | 92580 |
| IRS990/PensionPlanContributionsGrp/TotalAmt | 0 | 111998 |
| IRS990/PoliticalCampaignActyInd | 0 | false |
| IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt | 0 | 109014 |
| IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt | 0 | 103297 |
| IRS990/PrincipalOfficerNm | 0 | JIMMY PARKER |
| IRS990/ProfessionalFundraisingInd | 0 | false |
| IRS990/ProgramServiceRevenueGrp/BusinessCd | 0 | 522298 |
| IRS990/ProgramServiceRevenueGrp/BusinessCd | 1 | 522298 |
| IRS990/ProgramServiceRevenueGrp/BusinessCd | 2 | 522298 |
| IRS990/ProgramServiceRevenueGrp/BusinessCd | 3 | 522298 |
| IRS990/ProgramServiceRevenueGrp/Desc | 0 | MAINTENANCE & OPERATIONS |
| IRS990/ProgramServiceRevenueGrp/Desc | 1 | FINANCIAL AID CONSULTING SERV |
| IRS990/ProgramServiceRevenueGrp/Desc | 2 | STUDENT LOAN SERVICING REVENU |
| IRS990/ProgramServiceRevenueGrp/Desc | 3 | DEFAULT PREVENTION FEES |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 0 | 4159389 |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 1 | 245569 |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 2 | 240354 |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 3 | 168776 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 0 | 4159389 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 1 | 245569 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 2 | 240354 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 3 | 168776 |
| IRS990/ProgSrvcAccomActy2Grp/Desc | 0 | MANAGEMENT AND OVERSIGHT SERVICES FOR PPHEA AND PPSFC, BOTH ORGANIZATIONS ARE ALSO RELATED NOT-FOR-PROFIT ORGANIZATIONS. |
| IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt | 0 | 1514391 |
| IRS990/ProgSrvcAccomActy2Grp/RevenueAmt | 0 | 4159389 |
| IRS990/ProgSrvcAccomActy3Grp/Desc | 0 | PROVIDE EDUCATIONAL AND CHARITABLE PROGRAMS TO DECREASE STUDENT LOAN DEFAULTS, PROMOTE FINANCIAL AID OUTREACH ACTIVITIES, AND PROMOTE FINANCIAL LITERACY. |
| IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt | 0 | 216342 |
| IRS990/ProgSrvcAccomActy3Grp/RevenueAmt | 0 | 168776 |
| IRS990/ProgSrvcAccomActyOtherGrp/Desc | 0 | IN CONJUNCTION WITH THE PANHANDLE NON-PROFITS, WE HAVE DEVELOPED AND INTRODUCED THE STUDENT LOAN ASSISTANCE MANAGER (SLAM), WHICH IS A COHORT DEFAULT RATE MANAGEMENT SYSTEM CREATED TO IMPORT NATIONAL STUDENT LOAN DATA SYSTEMS (NSLDS) DATA AND ALLOW SCHOOLS TO UNDERTAKE DEFAULT PREVENTION ACTIVITIES. THE SYSTEM PROVIDES THE SCHOOL WITH USER-FRIENDLY ACCESS TO NSLDS DATA ON THE STUDENT LOANS OF BORROWERS WHO ATTENDED THE SCHOOL AND CAN BE USED TO IDENTIFY BORROWERS FOR DEFAULT AVERSION ACTIVITIES AND TO ESTIMATE THE INSTITUTION'S COHORT DEFAULT RATE (WHICH IS IMPORTANT FOR SCHOOLS TO HAVE CONTINUED ELIGIBILITY TO PARTICIPATE AND RECEIVE TITLE IV STUDENT AID FUNDS FOR THEIR STUDENTS). DURING THE FISCAL YEAR 2017-2018, PPMSC BEGAN AN OUTREACH PROGRAM WITH FOUR COORDINATORS WITH THE PURPOSE OF EDUCATING JUNIOR AND SENIOR HIGH SCHOOL STUDENTS ATTENDING SMALL INDEPENDENT SCHOOL DISTRICTS' ABOUT FINANCIAL AID. FOR THE THE 2018 CALENDAR YEAR, THE ORGANIZATION PRESENTED INFORMATION TO APPROXIMATELY 2,818 STUDENTS IN 76 SCHOOLS. |
| IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt | 0 | 577197 |
| IRS990/ProgSrvcAccomActyOtherGrp/GrantAmt | 0 | 6700 |
| IRS990/ProgSrvcAccomActyOtherGrp/RevenueAmt | 0 | 245569 |
| IRS990/ProhibitedTaxShelterTransInd | 0 | false |
| IRS990/PYExcessBenefitTransInd | 0 | false |
| IRS990/PYInvestmentIncomeAmt | 0 | 21 |
| IRS990/PYOtherExpensesAmt | 0 | 1931863 |
| IRS990/PYProgramServiceRevenueAmt | 0 | 5275980 |
| IRS990/PYRevenuesLessExpensesAmt | 0 | 1642176 |
| IRS990/PYSalariesCompEmpBnftPaidAmt | 0 | 1701962 |
| IRS990/PYTotalExpensesAmt | 0 | 3633825 |
| IRS990/PYTotalRevenueAmt | 0 | 5276001 |
| IRS990/ReconcilationRevenueExpnssAmt | 0 | 1491032 |
| IRS990/RegularMonitoringEnfrcInd | 0 | true |
| IRS990/RelatedEntityInd | 0 | true |
| IRS990/RelatedOrganizationCtrlEntInd | 0 | false |
| IRS990/ReportInvestmentsOtherSecInd | 0 | false |
| IRS990/ReportLandBuildingEquipmentInd | 0 | true |
| IRS990/ReportOtherAssetsInd | 0 | false |
| IRS990/ReportOtherLiabilitiesInd | 0 | false |
| IRS990/ReportProgramRelatedInvstInd | 0 | false |
| IRS990/RevenueAmt | 0 | 240354 |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/Contribution35ControlledInd | 0 | false |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionControllerInd | 0 | false |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionFamilyInd | 0 | false |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/ControlledDisqualifiedPrsnInd | 0 | false |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnControllIntInd | 0 | false |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnOwnrIntInd | 0 | false |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/ExcessBusinessHoldingsRulesInd | 0 | false |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/ListedByNameGoverningDocInd | 0 | true |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/LoanDisqualifiedPersonInd | 0 | false |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/OrganizationChangeSuprtOrgInd | 0 | false |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/PaymentSubstantialContribtrInd | 0 | false |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgNotOrganizedUSInd | 0 | false |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgSectionC456Ind | 0 | false |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportNonSupportedOrgInd | 0 | false |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/SuprtOrgNoIRSDeterminationInd | 0 | false |
| IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/OperateBenefitNonSuprtOrgInd | 0 | false |
| IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/PowerAppointMajorityDirTrstInd | 0 | true |
| IRS990ScheduleA/IRSWrittenDeterminationInd | 0 | X |
| IRS990ScheduleA/OtherSupportSumAmt | 0 | 0 |
| IRS990ScheduleA/SupportedOrganizationsCnt | 0 | 2 |
| IRS990ScheduleA/SupportedOrganizationsTotalCnt | 0 | 2 |
| IRS990ScheduleA/SupportedOrgInformationGrp/EIN | 0 | 237025386 |
| IRS990ScheduleA/SupportedOrgInformationGrp/EIN | 1 | 752059556 |
| IRS990ScheduleA/SupportedOrgInformationGrp/GoverningDocumentListedInd | 0 | true |
| IRS990ScheduleA/SupportedOrgInformationGrp/GoverningDocumentListedInd | 1 | true |
| IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeCd | 0 | 10 |
| IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeCd | 1 | 9 |
| IRS990ScheduleA/SupportedOrgInformationGrp/OtherSupportAmt | 0 | 0 |
| IRS990ScheduleA/SupportedOrgInformationGrp/OtherSupportAmt | 1 | 0 |
| IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt | 0 | 0 |
| IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt | 1 | 0 |
| IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt | 0 | PANHANDLE-PLAINS HIGHER EDUCATION |
| IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt | 1 | PANHANDLE-PLAINS STUDENT FINANCE |
| IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine2Txt | 0 | AUTHORITY INC |
| IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine2Txt | 1 | CORPORATION |
| IRS990ScheduleA/SupportingOrganization509a3Ind | 0 | X |
| IRS990ScheduleA/SupportingOrgType1Ind | 0 | X |
| IRS990/ScheduleBRequiredInd | 0 | false |
| IRS990ScheduleD/BuildingsGrp/BookValueAmt | 0 | 269573 |
| IRS990ScheduleD/BuildingsGrp/DepreciationAmt | 0 | 25850 |
| IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt | 0 | 295423 |
| IRS990ScheduleD/EquipmentGrp/BookValueAmt | 0 | 23530 |
| IRS990ScheduleD/EquipmentGrp/DepreciationAmt | 0 | 121047 |
| IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt | 0 | 144577 |
| IRS990ScheduleD/ExpensesSubtotalAmt | 0 | 3323082 |
| IRS990ScheduleD/FootnoteTextInd | 0 | X |
| IRS990ScheduleD/LandGrp/BookValueAmt | 0 | 107208 |
| IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt | 0 | 107208 |
| IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt | 0 | 11996 |
| IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt | 0 | 70472 |
| IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt | 0 | 82468 |
| IRS990ScheduleD/RevenueSubtotalAmt | 0 | 4814114 |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 0 | THE CORPORATION IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC), AND HAS BEEN DETERMINED NOT TO BE A PRIVATE FOUNDATION UNDER SECTION 509(A) OF THE IRC. AS A RESULT, EXCEPT FOR UNRELATED BUSINESS INCOME TAXES FOR A SMALL PORTION OF THE CORPORATION'S UNRELATED FOR-PROFIT LENDERS, INCOME TAXES ARE NOT INCLUDED IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE CORPORATION COMPLIES WITH FASB ASB TOPIC 740, ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES (ASC TOPIC 740), WHICH ADDRESSES THE DETERMINATION OF WHETHER TAX BENEFITS CLAIMED OR EXPECTED TO BE CLAIMED ON A TAX RETURN SHOULD BE RECORDED IN THE FINANCIAL STATEMENTS. UNDER THIS GUIDANCE, THE CORPORATION MAY RECOGNIZE THE TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE-LIKELY-THAN-NOT THAT THE TAX POSITION WILL BE SUSTAINED ON EXAMINATION BY TAXING AUTHORITIES, BASED ON THE TECHNICAL MERITS OF THE POSITION. THE TAX BENEFITS RECOGNIZED IN THE FINANCIAL STATEMENTS FROM SUCH POSITIONS ARE MEASURED BASED ON THE LARGEST BENEFIT THAT HAS A GREATER THAN 50% LIKELIHOOD OF BEING REALIZED UPON ULTIMATE SETTLEMENT. THE GUIDANCE ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES ALSO ADDRESS DE-RECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES ON INCOME TAXES, AND ACCOUNTING IN INTERIM PERIODS. MANAGEMENT EVALUATED THE CORPORATION'S TAX POSITIONS AND CONCLUDED THAT THE CORPORATION HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THIS GUIDANCE. WITH FEW EXCEPTIONS, THE CORPORATION IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY THE U.S. FEDERAL TAX AUTHORITIES FOR YEARS ENDING BEFORE DECEMBER 31, 2015. |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | SCHEDULE D, PAGE 3, PART X |
| IRS990ScheduleD/TotalBookValueLandBuildingsAmt | 0 | 412307 |
| IRS990ScheduleD/TotalExpensesPerForm990Amt | 0 | 3323082 |
| IRS990ScheduleD/TotalRevenuePerForm990Amt | 0 | 4814114 |
| IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt | 0 | 4814114 |
| IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt | 0 | 3323082 |
| IRS990ScheduleI/GrantRecordsMaintainedInd | 0 | false |
| IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt | 0 | 6700 |
| IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt | 0 | EDUCATIONAL SCHOLARSHIPS |
| IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt | 0 | 43 |
| IRS990ScheduleJ/AnyNonFixedPaymentsInd | 0 | false |
| IRS990ScheduleJ/BoardOrCommitteeApprovalInd | 0 | X |
| IRS990ScheduleJ/ClubDuesOrFeesInd | 0 | X |
| IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd | 0 | false |
| IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd | 0 | false |
| IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd | 0 | false |
| IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd | 0 | false |
| IRS990ScheduleJ/EquityBasedCompArrngmInd | 0 | false |
| IRS990ScheduleJ/InitialContractExceptionInd | 0 | false |
| IRS990/ScheduleJRequiredInd | 0 | true |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt | 0 | 196206 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt | 1 | 161957 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt | 2 | 120473 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount | 0 | 20000 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount | 1 | 15000 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount | 2 | 15000 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt | 0 | 16283 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt | 1 | 14148 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt | 2 | 10334 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt | 0 | 15069 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt | 1 | 30837 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt | 2 | 26886 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm | 0 | JIMMY PARKER |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm | 1 | JOHN WRIGHT |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm | 2 | ZACH BELL |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt | 0 | PRESIDENT |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt | 1 | SR VICE PRESIDENT |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt | 2 | CFO |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt | 0 | 247558 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt | 1 | 221942 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt | 2 | 172693 |
Document Assets
No mirrored PDF or thumbnail assets are attached yet.
Filings
Displayed year
2018 • Form 990Detailed filing. Detailed filing data is available for this year.
- Assets
- $9,847,506
- Liabilities
- $416,506
- Net assets
- $9,431,000
- Revenue
- $4,814,114
- Expenses
- $3,323,082
- Net income
- $1,491,032