Civic Intelligence

Higher Education Servicing Corporation

EIN 75-1661098 • 501(c)3 • Arlington, TX

Profile

HESC fosters quality servicing for student loans, encourages and promotes student enrollment at post-secondary level institutions and to the extent possible provides support to associations, trusts, foundations and institutions operated for purposes described in sections 170 (c) (2) and 501 (c) (3) of the Code.

4381 W Green Oaks BlvdArlington, TX 76016

hescloans.com

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

19th percentile

0.03x

Higher debt load relative to assets than 19% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2025

Liabilities / Revenue

16th percentile

0.07x

Higher debt load relative to revenue than 16% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2025

Net Margin

93rd percentile

62%

Higher net margin than 93% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2025

Top Officer Pay

62nd percentile

$439,785

Higher top officer pay than 62% of similar nonprofits.

Top officer pay equals 1.2% of source-year revenue.

501(c)3 • $50M-$100M nonprofits • Source year 2025

Asset Growth

94th percentile

46%

Faster asset growth than 94% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Annualized from 2024 to 2025

Revenue Growth

94th percentile

129%

Faster revenue growth than 94% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Annualized from 2024 to 2025

Assets

Up

$52,194,254

Up $5,198,561 (+11%) from 2023

Liabilities

Up

$1,585,333

Up $639,941 (+68%) from 2023

Net Assets

Up

$50,608,921

Up $4,558,620 (+9.9%) from 2023

Revenue

Up

$15,734,397

Up $3,959,231 (+34%) from 2023

Expenses

Up

$11,430,757

Up $2,331,093 (+26%) from 2023

Net Income

Up

$4,303,640

Up $1,628,138 (+61%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$60M$40M$20M$0Assets 2010: $23,027,160Liabilities 2010: $800,729Net Assets 2010: $22,226,4312010Assets 2011: $24,856,959Liabilities 2011: $644,279Net Assets 2011: $24,212,6802011Assets 2012: $28,908,276Liabilities 2012: $2,444,101Net Assets 2012: $26,464,1752012Assets 2013: $29,676,783Liabilities 2013: $2,792,881Net Assets 2013: $26,883,9022013Assets 2014: $28,879,958Liabilities 2014: $3,497,506Net Assets 2014: $25,382,4522014Assets 2015: $26,096,441Liabilities 2015: $1,184,225Net Assets 2015: $24,912,2162015Assets 2016: $24,751,737Liabilities 2016: $1,006,217Net Assets 2016: $23,745,5202016Assets 2017: $27,645,792Liabilities 2017: $444,308Net Assets 2017: $27,201,4842017Assets 2018: $31,655,966Liabilities 2018: $1,011,975Net Assets 2018: $30,643,9912018Assets 2019: $37,520,005Liabilities 2019: $3,628,630Net Assets 2019: $33,891,3752019Assets 2020: $41,096,354Liabilities 2020: $4,326,820Net Assets 2020: $36,769,5342020Assets 2021: $40,965,852Liabilities 2021: $881,368Net Assets 2021: $40,084,4842021Assets 2022: $44,544,807Liabilities 2022: $617,736Net Assets 2022: $43,927,0712022Assets 2023: $46,995,693Liabilities 2023: $945,392Net Assets 2023: $46,050,3012023Assets 2024: $52,194,254Liabilities 2024: $1,585,333Net Assets 2024: $50,608,9212024

Highlighted filing

2024

Assets$52,194,254
Liabilities$1,585,333
Net Assets$50,608,921

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$20M$15M$10M$5.0M$0-$5.0MExpenses 2010: $9,947,1642010Expenses 2011: $8,876,6342011Expenses 2012: $8,375,9822012Expenses 2013: $7,476,5682013Revenue 2014: $6,864,904Expenses 2014: $8,366,354Net Income 2014: -$1,501,4502014Revenue 2015: $6,368,870Expenses 2015: $6,839,106Net Income 2015: -$470,2362015Revenue 2016: $5,893,164Expenses 2016: $7,059,860Net Income 2016: -$1,166,6962016Revenue 2017: $9,287,260Expenses 2017: $5,855,382Net Income 2017: $3,431,8782017Revenue 2018: $10,119,969Expenses 2018: $6,530,170Net Income 2018: $3,589,7992018Revenue 2019: $9,715,326Expenses 2019: $6,714,812Net Income 2019: $3,000,5142019Revenue 2020: $9,346,626Expenses 2020: $6,621,694Net Income 2020: $2,724,9322020Revenue 2021: $10,554,218Expenses 2021: $7,155,642Net Income 2021: $3,398,5762021Revenue 2022: $11,853,938Expenses 2022: $7,670,792Net Income 2022: $4,183,1462022Revenue 2023: $11,775,166Expenses 2023: $9,099,664Net Income 2023: $2,675,5022023Revenue 2024: $15,734,397Expenses 2024: $11,430,757Net Income 2024: $4,303,6402024

Highlighted filing

2024

Revenue$15,734,397
Expenses$11,430,757
Net Income$4,303,640

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$52.2$1.59$50.6$15.7$11.4$4.30
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$47.0$0.95$46.1$11.8$9.10$2.68
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$44.5$0.62$43.9$11.9$7.67$4.18
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$41.0$0.88$40.1$10.6$7.16$3.40
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$41.1$4.33$36.8$9.35$6.62$2.72
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$37.5$3.63$33.9$9.72$6.71$3.00
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$31.7$1.01$30.6$10.1$6.53$3.59
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$27.6$0.44$27.2$9.29$5.86$3.43
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$24.8$1.01$23.7$5.89$7.06$1.17
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$26.1$1.18$24.9$6.37$6.84$0.47
2014Detailed filing. Detailed filing data is available for this year.$28.9$3.50$25.4$6.86$8.37$1.50
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$29.7$2.79$26.9$7.48
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$28.9$2.44$26.5$8.38
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$24.9$0.64$24.2$8.88
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$23.0$0.80$22.2$9.95
Latest Detailed Filing

The latest 2024 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2019 below.

Jump To
Filing Snapshot
Filing Period
Sep 1, 2018 to Aug 31, 2019
Signed
Feb 25, 2020
Return Version
2018v3.1
Gross Receipts
$9,838,905
Mission and Program Overview

Mission

Hesc fosters quality servicing for student loans, encourages and promotes student enrollment at post-secondary level institutions. Hesc provides student loans and life of loan servicing and program administration of student loans under agreements with note holders including higher education authorities. Hesc is responsible for the reporting, collection and accounting for the loans. Hesc also administers educational outreach programs and services in north texas.

Hesc fosters quality servicing for student loans, encourages and promotes student enrollment at post-secondary level institutions.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$14,716,213$15,541,004▲ $824,791
Investments Program Related$8,790,149$13,735,650▲ $4,945,501
Land, Buildings, and Equipment, Net$6,961,847$6,763,929▼ $197,918
Accounts Receivable$966,500$1,244,949▲ $278,449
Prepaid Expenses and Deferred Charges$49,644$53,545▲ $3,901
Intangible Assets$19,718$23,204▲ $3,486
Cash and Non-Interest-Bearing Accounts$200$200→ $0
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments in Publicly Traded Securities-$0-
Inventories for Sale or Use-$0-
Total Assets$31,655,966$37,520,005▲ $5,864,039
Other Assets Total$151,695$157,524▲ $5,829
Liabilities
Unsecured Notes Loans Payable-$3,016,837-
Accounts Payable and Accrued Expenses$1,011,975$611,793▼ $400,182
Total Liabilities$1,011,975$3,628,630▲ $2,616,655
Net Assets / Fund Balance
Unrestricted Net Assets$30,643,991$33,891,375▲ $3,247,384
Total Net Assets Fund Balance$30,643,991$33,891,375▲ $3,247,384
Total Liabilities and Net Assets / Fund Balance$31,655,966$37,520,005▲ $5,864,039

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$4,891,157$577,053$5,468,210
Leasehold Improvements$473,409$381,418$854,827
Buildings$618,618$137,555$756,173
Equipment$136,057$564,090$700,147
Land$644,688-$644,688
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Phillip WambsganssExecutive DirectorFT$180,000$38,127$218,127
Robert LambersonIt DirectorFT$165,000$51,834$216,834
Denise Dunn-trakshelControllerFT$125,256$12,716$137,972
Vincent PoliteProgrammerFT$115,855$7,520$123,375
Kevin MontgomeryDirector op SolutionsFT$105,432$9,803$115,235
Phil KINMANDirector of ComplianceFT$100,821$7,101$107,922
Judith SchneiderSec/treas-$1,200-$1,200
June HaglerVice President-$1,200-$1,200
Kenneth D WoodsPresident-$1,200-$1,200
Stephanie BuduhanDirector-$1,200-$1,200
Stephen VincentDirector-$1,200-$1,200

Highest Paid Contractors

ContractorServicesLocationCompensation
Edfinancial ServicesLoan ServicingPO BOX 36014, Knoxville, TN 37930$1,197,005
Aspire Resources INCLoan Servicing6775 VISTA DR ASHFORD II BUILDING, West Des Moines, IA 50266$580,768
VentanexPrint/post. Services5830 CRESENT DRIVE 100, The Colony, TX 75056$329,572
Nelnet Servicing LLCLoan Servicing121 S 13TH STREET SUITE WF 400, Lincoln, NE 68508$252,853
Mbi Systems CorporationNetwork Consulting13011 SAINT ORLIN WAY, Forney, TX 75126$167,746
Revenue and Support

Revenue Composition

Contributions and Grants
$91,995
Program Service Revenue
$9,253,337
Investment Income
$333,232
Other Revenue
$36,762
All Other Contributions
$91,995
Change in Net Assets
$3,000,514

Audited Revenue Reconciliation

Revenue per Audited Statements
$9,838,905
Revenue Not Reported on Financial Statements
$-123,579
Revenue Not Reported on Form 990
$246,870
Other Revenue Adjustments
$-123,579
Total Revenue per Audited Statements
$10,085,775
Total Revenue per Form 990
$9,715,326
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$3,413,163
Other Expenses$3,276,649
Grants and Similar Amounts Paid$25,000
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,948,899$297,328-$2,246,227
Current Officers, Directors, Trustees, and Key Employees$513,921$76,793-$590,714
Office Expenses$457,523$18,688-$476,211
Depreciation Depletion$304,323$10,529-$314,852
Fees for Services Management$218,805$33,249-$252,054
Other Employee Benefits$208,710$31,762-$240,472
Payroll Taxes$188,534$28,649-$217,183
Fees for Services Other$203,165--$203,165
Pension Plan Contributions$102,857$15,710-$118,567
Advertising$115,994--$115,994
Fees for Services Accounting$97,412$1,988-$99,400
Travel$44,744$6,799-$51,543
Fees for Services Legal$38,523$3,910-$42,433
Insurance$28,041$1,781-$29,822
Interest$23,239$3,531-$26,770
Grants to Domestic Orgs$25,000--$25,000
Other Expenses$14,757$5,096-$19,853
Fees for Services Lobbying$6,587--$6,587
All Other Expenses$60$13-$73
Total Functional Expenses$6,179,626$535,186$0$6,714,812

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$6,838,391
Expenses per Audited Statements$6,714,812
Total Expenses per Form 990$6,714,812
Expenses Not Reported on Form 990$123,579
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Texas A&m Commerce FoundationCommerce, TX501(c)(3)increasing visibility$25,000
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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, Part VI, Line 11B: Form 990 Review Process

Form 990 is prepared by a cpa firm, reviewed by the hesc director of accounting/controller and by the hesc ceo, before it is filed. The ceo discusses the form 990 with the board of directors after it is filed.

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

Hesc's general counsel attends every board meeting. The general counsel reviews the conflict of interest policy with the board members on an annual basis and enforces compliance with the policy.

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

The board of directors is provided with industry related salary surveys and information prepared by third parties. Comparable jobs and salaries are reviewed prior to annual budget salaries being set.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

Hesc provides its audited financial statements and reports to the public upon written request. Hesc does not make its governing documents and conflict of interest policy available to the public.

Filing and Contact Details

Filer

Filer Name
Higher Education Servicing Corporation
EIN
75-1661098
Phone
8172659158
Address
4381 W GREEN OAKS BLVD, ARLINGTON, TX 76016

Signing Officer

Name
Phillip Wambsganss
Title
Executive Director
Signed
2020-02-25
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Phillip Wambsganss
Formed
1978
Legal Domicile
TX
Voting Board Members
5
Independent Board Members
5
Employees
51
Volunteers
5

Preparer

Firm
Sutton Frost Cary LLP
Address
600 Six Flags Dr Suite 600, Arlington, TX 76011
Preparer
Amy Michie
Phone
8176498083
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

Hesc is exempt from federal income taxes under internal revenue code ("irc") section 501(a) as an organization described in irc section 501(c)(3). However, income generated by activities unrelated to the purposes for which hesc was created will be subject to tax. Hesc did not have any federal income tax liability in 2019. Hesc recognizes the financial effect of a tax position if that position is more likely than not to be sustained upon examination, including resolution of any appeals or litigation processes, based upon the technical merits of the assets. Tax positions taken related to hesc's tax exempt status, and state filing requirements have been reviewed, and management is of the opinion that material positons taken by hesc would more likely than not be sustained by examination. Accordingly, hesc has not recorded an income tax liability for uncertain tax benefits.

Part XII, Line 2D: Other expenses and losses per audited F/S

Rental expense netted with income on 990 $123579

Raw XML AppendixShowing 400 of 686 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

Path#Value
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IRS990/AccountsReceivableGrp/BOYAmt0966500
IRS990/AccountsReceivableGrp/EOYAmt01244949
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IRS990/ActivityOrMissionDesc0HESC FOSTERS QUALITY SERVICING FOR STUDENT LOANS, ENCOURAGES AND PROMOTES STUDENT ENROLLMENT AT POST-SECONDARY LEVEL INSTITUTIONS.
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IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/AddressLine1Txt113011 SAINT ORLIN WAY
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IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/CityNm0KNOXVILLE
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IRS990/Desc0SERVICING AND ADMINISTRATION OF STUDENT LOANS AND DEVELOPMENT OF COMPUTER SYSTEMS TO SERVICE STUDENT LOANS ON BEHALF OF LOAN HOLDERS INCLUDING THE NORTH TEXAS HIGHER EDUCATION AUTHORITY.
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