Brazos Education Funding Corporation Inc
- Assets
- $90.0m
- Revenue
- $5.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Waco, TX
- Founding
- Data as of
- 06/2018
- EIN
- 20-3870176
Organization Overview
Brazos Education Funding Corporation Inc is located in Waco, TX. Brazos Education Funding Corporation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2018, Brazos Education Funding Corporation Inc generated $5.0m in total revenue. This represents relatively stable growth, over the past 3 years the organization has increased revenue by an average of 7.3% each year. All expenses for the organization totaled $3.8m during the year ending 06/2018. While expenses have increased by 15.2% per year over the past 3 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2018
Describe the Organization's Mission:
Part 3 - Line 1
BRAZOS EDUCATION FUNDING CORPORATION, INC.'S MISSION IS TO MAKE EDUCATION A REALITY BY SUPPORTING PROGRAMS AND INITIATIVES TO FINANCE EDUCATIONAL OPPORTUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BRAZOS EDUCATION FUNDING CORPORATION, INC. SERVICED OVER 4,000 LOANS TOTALING OVER $83 MILLION FROM THE TITLE IV PROGRAM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mrs Jane Allen Director | Trustee | 1 | $0 |
Bob Chambers Chairman | Trustee | 1 | $0 |
Dr Charles E Madden Director | Trustee | 1 | $0 |
Larry Smith Director | Trustee | 1 | $0 |
Dr Terry Maness Director | Trustee | 1 | $0 |
Mrs Joyce Packard Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $4,955,227 |
| Investment income | $25,237 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,985,651 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $225,024 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,423,967 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $92,092 |
| Insurance | $0 |
| All other expenses | $4,385 |
| Total functional expenses | $3,763,300 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,647,758 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $86,119,851 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $671,076 |
| Other assets | $1,589,590 |
| Total assets | $90,028,275 |
| Accounts payable and accrued expenses | $120,152 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $85,007,501 |
| Other liabilities | $0 |
| Total liabilities | $85,127,653 |
| Unrestricted restricted net Assets | $0 |
| Temporarily restricted net Assets | $0 |
| Permanently restricted net Assets or current funds | $0 |
| Capital stock or trust principal, or current funds | $4,900,622 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total net assets or fund balances | $4,900,622 |