NEW MEXICO EDUCATIONAL ASSISTANCE FOUNDATION

As filed

Subsection

03

NTEE code

B820

Classification

1000

Street

PO BOX 27020

These codes are the IRS's own and are shown exactly as filed. What each one means is in the Business Master File documentation (opens in a new tab).

Mission and programs · 2023

• STUDENT LOAN PROGRAMS: ORIGINATE, PURCHASE AND SERVICE STUDENT LOANS. PROGRAM SERVICE EXPENSE AMOUNTS INCLUDE COST OF INTEREST ON DEBT ISSUED TO FUND LOANS. THE NUMBER OF OUTSTANDING LOANS ON 06/30/2024 WAS 25,347.

  Expenses $5,490,135 · Revenue $14,208,733

• STUDENT LOAN PROGRAMS: PROVIDE ADMINISTRATIVE SERVICE FOR THE NEW MEXICO STUDENT LOAN GUARANTEE CORPORATION, FUNCTIONING AS THE GUARANTY AGENCY UNDER THE GUARANTEED STUDENT LOAN PROGRAM (FEDERAL FAMILY EDUCATION LOAN PROGRAM).

  Expenses $1,288,044 · Revenue $1,288,044

• DEFAULT FFELP COLLECTIONS: COLLECTING ON LOANS THAT WERE DEFAULTED IN THE FFELP PROGRAM. COUNSEL AND WORK WITH BORROWERS TO BRING THEM BACK INTO GOOD STANDING AND REHABILITATE THEIR LOANS WHENEVER POSSIBLE.

  Expenses $460,150 · Revenue $295,622

• FAFSA COMPLETION: THE FOUNDATION ASSISTED STUDENTS IN COMPLETING FASFA APPLICATIONS AND IN COLLECTING ON AR AND PERKINS ACCOUNTS FOR SCHOOLS.

  Expenses $351,560 · Revenue $566,352

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Officers and directors · 2023

As listed in Part VII of the 2023 return, in the order the filer printed them. Each return names its own; this is not a roster the organization keeps with us.

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us. Earlier years are each on their own filing page.

Filings

• 2023

  Revenue

  $17,611,116

  Expenses

  $12,617,822

  Contributions

  $90,637

  Grants paid

  $0

• 2022

  Revenue

  $18,703,805

  Expenses

  $13,456,159

  Contributions

  $16,000

  Grants paid

  $0

The four totals the IRS asks for on Part I of the Form 990, as filed. A dash means the figure was not present on the return — not that it was zero.

Other returns filed

• 2023 · 990-T

  Revenue

  — not reported

  Expenses

  — not reported

  Assets (EOY)

  — not reported

• 2021 · 990

  Revenue

  $12,323,094

  Expenses

  $14,912,159

  Assets (EOY)

  $349,128,881

• 2021 · 990-T

  Revenue

  — not reported

  Expenses

  — not reported

  Assets (EOY)

  — not reported

• 2020 · 990

  Revenue

  $13,989,676

  Expenses

  $14,732,067

  Assets (EOY)

  $354,396,919

• 2020 · 990-T

  Revenue

  — not reported

  Expenses

  — not reported

  Assets (EOY)

  — not reported

• 2019 · 990

  Revenue

  $19,955,288

  Expenses

  $19,665,490

  Assets (EOY)

  $392,805,656

• 2018 · 990

  Revenue

  $24,870,546

  Expenses

  $25,119,407

  Assets (EOY)

  $462,546,998

• 2017 · 990

  Revenue

  $23,353,051

  Expenses

  $24,923,849

  Assets (EOY)

  $531,385,069

• 2016 · 990

  Revenue

  $21,914,659

  Expenses

  $22,722,076

  Assets (EOY)

  $618,517,714

• 2014 · 990

  Revenue

  $22,051,767

  Expenses

  $21,394,180

  Assets (EOY)

  $812,217,656

Nonprofiteer parses Forms 990, 990-EZ and 990-PF, in a window of recent tax years. These returns are recorded from the IRS e-file index, so their figures were extracted by that index rather than read from the return here — treat them as a different source from the filings above, not as more of the same record. A dash means the index carries no figure; Form 990-T listings carry none at all. Showing the 10 most recent; the API carries the rest.

Grants made

No itemized grants to organizations. Schedule I is filed only by organizations that granted more than $5,000 to a recipient, so most filers have none.

Grants received

• EDUCATIONAL CREDIT MANAGEMENT CORPORATION

  $212,690

  2024 · FAFSA STUDENT SUPPORT

Related organizations

From Schedule R Part II, where a filer lists the tax-exempt organizations it is related to by control. It does not record shared board members or money.

Taxable family

From Schedule R Parts I, III and IV: entities that legally are the filer, and taxable partnerships, corporations and trusts it is related to. These record ownership and control, not shared board members or money.

Other IRS files