Civic Intelligence

Montana Higher Education Student Assistance Corporation

990 • Fiscal year 2014 • EIN 81-0393527

Jul 01, 2013 to Jun 30, 2014 • Filed on Oct 08, 2014

Organization ProfileWWW.MHESAC.ORG

View Organization Page

2500 Broadway59601

(406) 495-7800

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

93rd percentile

0.91x

Higher debt load relative to assets than 93% of similar nonprofits.

2014 filings • 501(c)3 • $1B+ nonprofits • Source year 2014

Liabilities / Revenue

98th percentile

31.16x

Higher debt load relative to revenue than 98% of similar nonprofits.

2014 filings • 501(c)3 • $1B+ nonprofits • Source year 2014

Net Margin

5th percentile

-10%

Higher net margin than 5% of similar nonprofits.

2014 filings • 501(c)3 • $1B+ nonprofits • Source year 2014

Top Officer Pay

3rd percentile

$269,037

Higher top officer pay than 3% of similar nonprofits.

Top officer pay equals 0.8% of source-year revenue.

2014 filings • 501(c)3 • $1B+ nonprofits • Source year 2014

Asset Growth

3rd percentile

-9.4%

Faster asset growth than 3% of similar nonprofits.

2014 filings • 501(c)3 • $1B+ nonprofits • Annualized from 2013 to 2014

Revenue Growth

2nd percentile

-46%

Faster revenue growth than 2% of similar nonprofits.

2014 filings • 501(c)3 • $1B+ nonprofits • Annualized from 2012 to 2014

Balance Sheet
Liabilities / Assets93rd percentile

Assets

Down

$1,192,762,703

Down $123,275,262 (-9.4%) from 2013

Net Assets

Down

$103,207,159

Down $3,552,728 (-3.3%) from 2013

Liabilities

Down

$1,089,555,544

Down $119,722,534 (-9.9%) from 2013

Revenue And Expenses
Liabilities / Revenue98th percentileNet Margin5th percentile

Revenue

$34,966,109

No earlier filing loaded for comparison.

Expenses

Down

$38,519,282

Down $3,172,559 (-7.6%) from 2013

Net Income

-$3,553,173

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth3rd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$2.0B$1.5B$1.0B$500M$0Assets 2011: $1,548,848,559Liabilities 2011: $1,507,992,783Net Assets 2011: $40,855,7762011Assets 2012: $1,476,754,430Liabilities 2012: $1,370,065,157Net Assets 2012: $106,689,2732012Assets 2013: $1,316,037,965Liabilities 2013: $1,209,278,078Net Assets 2013: $106,759,8872013Assets 2014: $1,192,762,703Liabilities 2014: $1,089,555,544Net Assets 2014: $103,207,1592014Assets 2015: $1,074,548,977Liabilities 2015: $974,905,351Net Assets 2015: $99,643,6262015Assets 2016: $965,432,682Liabilities 2016: $870,074,273Net Assets 2016: $95,358,4092016Assets 2017: $859,565,581Liabilities 2017: $768,124,859Net Assets 2017: $91,440,7222017Assets 2018: $755,743,439Liabilities 2018: $667,197,318Net Assets 2018: $88,546,1212018Assets 2019: $666,466,179Liabilities 2019: $579,742,634Net Assets 2019: $86,723,5452019Assets 2020: $593,255,692Liabilities 2020: $507,899,623Net Assets 2020: $85,356,0692020Assets 2021: $535,782,585Liabilities 2021: $450,667,713Net Assets 2021: $85,114,8722021Assets 2022: $454,297,151Liabilities 2022: $370,977,974Net Assets 2022: $83,319,1772022Assets 2023: $381,209,209Liabilities 2023: $300,020,864Net Assets 2023: $81,188,3452023Assets 2024: $320,626,994Liabilities 2024: $242,251,517Net Assets 2024: $78,375,4772024Assets 2025: $280,386,190Liabilities 2025: $204,330,070Net Assets 2025: $76,056,1202025

Highlighted filing

2014

Assets$1,192,762,703
Liabilities$1,089,555,544
Net Assets$103,207,159
Open 2014 Filing

Operations Trend

Revenue Growth2nd percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$150M$100M$50M$0-$50MExpenses 2011: $40,508,7112011Revenue 2012: $119,407,568Expenses 2012: $27,628,215Net Income 2012: $91,779,3532012Expenses 2013: $41,691,8412013Revenue 2014: $34,966,109Expenses 2014: $38,519,282Net Income 2014: -$3,553,1732014Revenue 2015: $31,168,796Expenses 2015: $34,732,326Net Income 2015: -$3,563,5302015Revenue 2016: $29,547,360Expenses 2016: $33,834,572Net Income 2016: -$4,287,2122016Revenue 2017: $29,554,619Expenses 2017: $33,475,814Net Income 2017: -$3,921,1952017Revenue 2018: $30,007,913Expenses 2018: $32,917,911Net Income 2018: -$2,909,9982018Revenue 2019: $31,953,405Expenses 2019: $33,829,885Net Income 2019: -$1,876,4802019Revenue 2020: $24,210,727Expenses 2020: $25,757,349Net Income 2020: -$1,546,6222020Revenue 2021: $16,450,082Expenses 2021: $16,652,032Net Income 2021: -$201,9502021Revenue 2022: $15,047,614Expenses 2022: $16,317,868Net Income 2022: -$1,270,2542022Revenue 2023: $23,987,922Expenses 2023: $26,030,923Net Income 2023: -$2,043,0012023Revenue 2024: $24,508,201Expenses 2024: $27,540,007Net Income 2024: -$3,031,8062024Revenue 2025: $19,567,092Expenses 2025: $22,003,288Net Income 2025: -$2,436,1962025

Highlighted filing

2014

Revenue$34,966,109
Expenses$38,519,282
Net Income-$3,553,173
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
Oct 8, 2014
Return Version
2013v3.0
Gross Receipts
$34,966,109
Mission and Program Overview

Mission

Mhesac offers borrower benefits in the form of principal and interest rate reductions to existing student loan borrowers. Through its reach higher montana (rhm) programs, it provides a range of services that includes outreach, scholarships and education finance planning.

Dedicated to helping montana citizens with financing their post-secondary education.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Program Related$1,260,703,469$1,142,822,452▼ $117,881,017
Savings and Temporary Cash Investments$33,159,976$31,975,623▼ $1,184,353
Cash and Non-Interest-Bearing Accounts$4,550,479$1,002,199▼ $3,548,280
Investments Other Securities$599,557--
Prepaid Expenses and Deferred Charges$33,988$34,708▲ $720
Total Assets$1,316,037,965$1,192,762,703▼ $123,275,262
Other Assets Total$16,990,496$16,927,721▼ $62,775
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,202,784,648$1,084,019,335▼ $118,765,313
Accounts Payable and Accrued Expenses$6,493,430$5,536,209▼ $957,221
Total Liabilities$1,209,278,078$1,089,555,544▼ $119,722,534
Net Assets / Fund Balance
Temporarily Rstr Net Assets$73,545,449$69,491,255▼ $4,054,194
Unrestricted Net Assets$33,214,438$33,715,904▲ $501,466
Total Net Assets Fund Balance$106,759,887$103,207,159▼ $3,552,728
Total Liabilities and Net Assets / Fund Balance$1,316,037,965$1,192,762,703▼ $123,275,262

Asset Categories

AssetBook ValueDepreciationBasis
Investment Program Related Org$1,142,822,452--
Compensation and Service Providers
Top Officer Pay3rd percentile

Employees

NameTitleBaseOtherTotal
Lila TaylorDirector$2,400$2,400$4,800
Michael GreenBoard Chair/president$2,400-$2,400
William ThomasVice-chair$2,400-$2,400
Fred FlandersDirector$2,400-$2,400
George OlsenSecretary/treasurer$2,400-$2,400
Jim PennerVice-president$2,400-$2,400
Tyler ChristiansonDirector/student Member$1,600-$1,600

Board Members and Trustees

NameTitle
Jolene SelbyTop Financial Official
James StipcichTop Management Official

Highest Paid Contractors

ContractorServicesLocationCompensation
Student Assistance FoundationManagement And Loan Services-$13,011,202
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$34,690,948
Investment Income
$275,161
Other Revenue
$0
Change in Net Assets
$-3,553,173

Audited Revenue Reconciliation

Revenue per Audited Statements
$34,966,109
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$445
Total Revenue per Audited Statements
$34,966,554
Total Revenue per Form 990
$34,966,109
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$38,504,682
Salaries, Compensation, and Employee Benefits$14,600
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$12,864,224--$12,864,224
Fees for Services Management$10,409,097$2,441,640-$12,850,737
Depreciation Depletion$2,700,688--$2,700,688
Fees for Services Other$208,250--$208,250
Current Officers, Directors, Trustees, and Key Employees-$14,600-$14,600
Insurance-$13,842-$13,842
Other Expenses$2,764--$2,764
All Other Expenses-$2,464-$2,464
Travel-$1,260-$1,260
Total Functional Expenses$36,045,476$2,473,806$0$38,519,282

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$38,519,282
Total Expenses per Form 990$38,519,282
Total Expenses per Audited Statements$38,519,281
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$-1
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
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
James StipcichTop Management OfficialNoted Top Management Official for Mhesac Is an Officer of Student Assistance FoundationNo-
Jolene SelbyTop Financial OfficialNoted Top Financial Official for Mhesac Is an Officer of Student Assistance FoundationNo-
Lila TaylorBoard MemberNoted Board Member Is on Both Student Assistance Foundation and Mhesac Boards.No-
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
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 2

“Two mhesac officers work for the same organization.”

Form 990, Part VI, Section A, Line 3

“Student assistance foundation is a 509(a)(3)supporting organization organized to provide montana higher education student assistance corporation (mhesac), with all the necessary management and administrative services required to operate mhesac's student loan program, perform all the responsibilities under the indentures, and to service all student loans owned by mhesac.”

Form 990, Part VI, Section B, Line 11

“The return is made available to the full board and reviewed by the audit committee prior to filing. The audit committee presents the return to the full board at the next scheduled meeting.”

Form 990, Part VI, Section B, Line 12C

“Board members are required to disclose conflicts of interest prior to participating in the discussion of the topic. The disclosure is noted in the minutes. All votes have to be carried by a majority of disinterested parties.”

Form 990, Part VI, Section B, Line 15

“The organization does not incur compensation or payroll related expenses. Board members are paid honorariums only and reimbursed for travel expenditures. The process for determining executive compensation by the student assistance foundation, mhesac's management company, is as follows: the saf board appoints a compensation committee in conjunction with an external consultant to review and recommend compensation of the ceo for board approval. Market conditions are looked at annually via a market survey. The saf board approves any annual cost of living adjustments.”

Form 990, Part VI, Section C, Line 19

“Financial statements are available from the company's website and other documents are available upon request.”

Filing and Contact Details

Filer

EIN
81-0393527
Phone
4064957800

Signing Officer

Name
Michael Green
Title
President
Phone
4064957800
Signed
2014-10-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Michael Green
Formed
1980
Legal Domicile
Mt
Voting Board Members
7
Independent Board Members
7
Employees
0
Volunteers
0

Preparer

Preparer
Suzanne M Severin
Phone
4064421040
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2C - Oversite of Audit

“The process for the oversight responsibility of the audit is consistent with prior years.”

Financial Statement Notes

PART XII, LINE 2D - OTHER ADJUSTMENTS:

“ROUNDING -1.”

Raw XML AppendixShowing 400 of 505 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.

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IRS990/Desc0ACQUISITION AND SERVICING OF GUARANTEED STUDENT LOANS AS A SECONDARY STUDENT LOAN MARKET FOR THE FEDERAL FAMILY EDUCATION LOAN PROGRAM (FFELP). BENEFITS PROVIDED TO BORROWERS THROUGH REBATE, INCENTIVE, AND RATE REDUCTION PROGRAMS TOTALED $2.30 MILLION FOR 28,249 BORROWERS IN FISCAL YEAR 2014. $51.2 MILLION IN BENEFITS HAVE BEEN PROVIDED TO BORROWERS SINCE INCEPTION OF BORROWER BENEFIT PROGRAMS IN 1996. SINCE INCEPTION, MHESAC HAS PROVIDED MORE THAN $3.7 BILLION IN STUDENT LOANS TO OVER 241,000 BORROWERS.
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IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt016990496
IRS990/OtherAssetsTotalGrp/EOYAmt016927721
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0CONSOLIDATION LOAN FEES
IRS990/OtherExpensesGrp/Desc1LENDER LOAN AND INCENTI
IRS990/OtherExpensesGrp/Desc2LISTING FEES
IRS990/OtherExpensesGrp/ProgramServicesAmt09630745
IRS990/OtherExpensesGrp/ProgramServicesAmt1229708
IRS990/OtherExpensesGrp/ProgramServicesAmt22764
IRS990/OtherExpensesGrp/TotalAmt09630745
IRS990/OtherExpensesGrp/TotalAmt1229708
IRS990/OtherExpensesGrp/TotalAmt22764
IRS990/OwnWebsiteInd0X
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt033988
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt034708
IRS990/PrincipalOfficerNm0MICHAEL GREEN
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0611710
IRS990/ProgramServiceRevenueGrp/Desc0INTEREST & SPECIAL ALLOWANCE
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt034690948
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt034690948
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0308847
IRS990/PYOtherExpensesAmt041675441
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt041453894
IRS990/PYRevenuesLessExpensesAmt070900
IRS990/PYSalariesCompEmpBnftPaidAmt016400
IRS990/PYTotalExpensesAmt041691841
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt041762741
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-3553173
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd01
IRS990/RevenueAmt034690948
IRS990/SavingsAndTempCashInvstGrp/BOYAmt033159976
IRS990/SavingsAndTempCashInvstGrp/EOYAmt031975623
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt0275605
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt0308847
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt0792180
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt01168989
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt01289495
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt03835116
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt034690949
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt041453894
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt062612415
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt052857579
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt056227491
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt0247842328
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt0275605
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt0308847
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt0792180
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt01168989
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt01289495
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt03835116
IRS990ScheduleA/InvestmentIncomeCYPct00.01250
IRS990ScheduleA/InvestmentIncomePYPct00.02860
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus2YearsAmt056002973
IRS990ScheduleA/OtherIncome509Grp/TotalAmt056002973
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.80550
IRS990ScheduleA/PublicSupportPY509Pct00.78090
IRS990ScheduleA/PublicSupportTotal509Amt0247842328
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt034690949
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt041453894
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt062612415
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt052857579
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt056227491
IRS990ScheduleA/Total509Grp/TotalAmt0247842328
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt034966554
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt041762741
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0119407568
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt054026568
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt057516986
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0307680417
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/ExpensesNotReportedAmt0-1
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt038519282
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt01142822452
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc0EDUCATIONAL LOANS RECEIVABLE, NET OF ALLOWANCE
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd0C
IRS990ScheduleD/NetUnrealizedGainsInvstAmt0445
IRS990ScheduleD/OtherExpensesIncludedAmt0-1
IRS990ScheduleD/RevenueNotReportedAmt0445
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt034966109
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0ROUNDING -1.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART XII, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalBookValueProgramRltdAmt01142822452
IRS990ScheduleD/TotalExpensesPerForm990Amt038519282
IRS990ScheduleD/TotalRevenuePerForm990Amt034966109
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt034966554
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt038519281
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt032859
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt146721
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt0135463
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt1196011
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt010559
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt112903
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt014394
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt113402
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0JOLENE SELBY
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1JAMES STIPCICH
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0TOP FINANCIAL OFFICIAL
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1TOP MANAGEMENT OFFICIAL
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0193275
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt1269037
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0DOES NOT APPLY.
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION PAYS MANAGEMENT FEES TO STUDENT ASSISTANCE FOUNDATION OF MONTANA (SAF), A RELATED ORGANIZATION. SAF DETERMINES COMPENSATION UTILIZING THE FOLLOWING: A COMPENSATION COMMITTEE, INDEPENDENT COMPENSATION CONSULTANT, WRITTEN EMPLOYMENT CONTRACT, COMPENSATION SURVEY AND APPROVAL BY THE COMPENSATION COMMITTEE APPOINTED BY THE BOARD OF SAF. THE EXECUTIVE COMPENSATION PLAN INCLUDES AN INCENTIVE PLAN. ONE OF THE TARGETS OF THE INCENTIVE PLAN IS BASED ON THE LEVEL OF ANNUAL GROSS REVENUE EARNED BY STUDENT ASSISTANCE FOUNDATION (SAF).
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 1A
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc1PART I, LINE 5
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm0JAMES STIPCICH
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm1LILA TAYLOR
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm2JOLENE SELBY
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0TOP MANAGEMENT OFFICIAL
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt1BOARD MEMBER
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt2TOP FINANCIAL OFFICIAL
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd10
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd20
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0NOTED TOP MANAGEMENT OFFICIAL FOR MHESAC IS AN OFFICER OF STUDENT ASSISTANCE FOUNDATION
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc1NOTED BOARD MEMBER IS ON BOTH STUDENT ASSISTANCE FOUNDATION AND MHESAC BOARDS.
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc2NOTED TOP FINANCIAL OFFICIAL FOR MHESAC IS AN OFFICER OF STUDENT ASSISTANCE FOUNDATION
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TWO MHESAC OFFICERS WORK FOR THE SAME ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1STUDENT ASSISTANCE FOUNDATION IS A 509(A)(3)SUPPORTING ORGANIZATION ORGANIZED TO PROVIDE MONTANA HIGHER EDUCATION STUDENT ASSISTANCE CORPORATION (MHESAC), WITH ALL THE NECESSARY MANAGEMENT AND ADMINISTRATIVE SERVICES REQUIRED TO OPERATE MHESAC'S STUDENT LOAN PROGRAM, PERFORM ALL THE RESPONSIBILITIES UNDER THE INDENTURES, AND TO SERVICE ALL STUDENT LOANS OWNED BY MHESAC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE RETURN IS MADE AVAILABLE TO THE FULL BOARD AND REVIEWED BY THE AUDIT COMMITTEE PRIOR TO FILING. THE AUDIT COMMITTEE PRESENTS THE RETURN TO THE FULL BOARD AT THE NEXT SCHEDULED MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3BOARD MEMBERS ARE REQUIRED TO DISCLOSE CONFLICTS OF INTEREST PRIOR TO PARTICIPATING IN THE DISCUSSION OF THE TOPIC. THE DISCLOSURE IS NOTED IN THE MINUTES. ALL VOTES HAVE TO BE CARRIED BY A MAJORITY OF DISINTERESTED PARTIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION DOES NOT INCUR COMPENSATION OR PAYROLL RELATED EXPENSES. BOARD MEMBERS ARE PAID HONORARIUMS ONLY AND REIMBURSED FOR TRAVEL EXPENDITURES. THE PROCESS FOR DETERMINING EXECUTIVE COMPENSATION BY THE STUDENT ASSISTANCE FOUNDATION, MHESAC'S MANAGEMENT COMPANY, IS AS FOLLOWS: THE SAF BOARD APPOINTS A COMPENSATION COMMITTEE IN CONJUNCTION WITH AN EXTERNAL CONSULTANT TO REVIEW AND RECOMMEND COMPENSATION OF THE CEO FOR BOARD APPROVAL. MARKET CONDITIONS ARE LOOKED AT ANNUALLY VIA A MARKET SURVEY. THE SAF BOARD APPROVES ANY ANNUAL COST OF LIVING ADJUSTMENTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5FINANCIAL STATEMENTS ARE AVAILABLE FROM THE COMPANY'S WEBSITE AND OTHER DOCUMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE PROCESS FOR THE OVERSIGHT RESPONSIBILITY OF THE AUDIT IS CONSISTENT WITH PRIOR YEARS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART XII, LINE 2C - OVERSITE OF AUDIT
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine10STUDENT ASSISTANCE FOUNDATION OF MONTANA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0810527529

Document Assets

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Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,192,762,703
Liabilities
$1,089,555,544
Net assets
$103,207,159
Revenue
$34,966,109
Expenses
$38,519,282
Net income
-$3,553,173
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$280$204$76.1$19.6$22.0$2.44
2024Detailed filing. Detailed filing data is available for this year.$321$242$78.4$24.5$27.5$3.03
2023Detailed filing. Detailed filing data is available for this year.$381$300$81.2$24.0$26.0$2.04
2022Detailed filing. Detailed filing data is available for this year.$454$371$83.3$15.0$16.3$1.27
2021Detailed filing. Detailed filing data is available for this year.$536$451$85.1$16.5$16.7$0.20
2020Detailed filing. Detailed filing data is available for this year.$593$508$85.4$24.2$25.8$1.55
2019Detailed filing. Detailed filing data is available for this year.$666$580$86.7$32.0$33.8$1.88
2018Detailed filing. Detailed filing data is available for this year.$756$667$88.5$30.0$32.9$2.91
2017Detailed filing. Detailed filing data is available for this year.$860$768$91.4$29.6$33.5$3.92
2016Detailed filing. Detailed filing data is available for this year.$965$870$95.4$29.5$33.8$4.29
2015Detailed filing. Detailed filing data is available for this year.$1,075$975$99.6$31.2$34.7$3.56
2014Detailed filing. Detailed filing data is available for this year.$1,193$1,090$103$35.0$38.5$3.55
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1,316$1,209$107$41.7
2012Summary only. Only limited summary data is available for this year.$1,477$1,370$107$119$27.6$91.8
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1,549$1,508$40.9$40.5