Panhandle-Plains Management & Servicing Corporation
- Assets
- $0.0
- Revenue
- $651.9k
- Investments
- $0.0
- Employees
- 14
- Location
- Canyon, TX
- Founding
- 04/2014
- Data as of
- 09/2020
- EIN
- 45-5543346
Organization Overview
Panhandle-Plains Management & Servicing Corporation, operating under the name See Schedule O, is located in Canyon, TX. The organization was established in 2014. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. As of 12/2019, See Schedule O employed 14 individuals. See Schedule O 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 09/2020, See Schedule O generated $651.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (37.2%) each year. All expenses for the organization totaled $1.5m during the year ending 09/2020. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
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.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MASTER STUDENT LOAN SERVICER FOR PANHANDLE-PLAINS HIGHER EDUCATION AUTHORITY, INC. (PPHEA), PANHANDLE-PLAINS STUDENT FINANCE CORPORATION (PPSFC), AND OTHER ORGANIZATIONS.
MANAGEMENT AND OVERSIGHT SERVICES FOR PPHEA AND PPSFC, BOTH ORGANIZATIONS ARE ALSO RELATED NOT-FOR-PROFIT ORGANIZATIONS.
PROVIDE EDUCATIONAL AND CHARITABLE PROGRAMS TO DECREASE STUDENT LOAN DEFAULTS, PROMOTE FINANCIAL AID OUTREACH ACTIVITIES, AND PROMOTE FINANCIAL LITERACY AND SMALL EDUCATIONAL SCHOLARSHIPS.
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 2,938 STUDENTS IN 103 SCHOOLS.
THROUGH AUGUST 31, 2020, THE ORGANIZATION SERVED AS THE MASTER STUDENT LOAN SERVICER FOR PANHANDLE-PLAINS HIGHER EDUCATION AUTHORITY, INC. (PPHEA), PANHANDLE-PLAINS STUDENT FINANCE CORPORATION (PPSFC), AND OTHER ORGANIZATIONS.
THROUGH AUGUST 31, 2020, THE ORGANIZATION ALSO PROVIDED MANAGEMENT AND OVERSIGHT SERVICES FOR PPHEA AND PPSFC, BOTH ORGANIZATIONS ARE ALSO RELATED NOT-FOR-PROFIT ORGANIZATIONS.
THROUGH AUGUST 31, 2020, THE ORGANIZATION PROVIDED EDUCATIONAL AND CHARITABLE PROGRAMS TO DECREASE STUDENT LOAN DEFAULTS, PROMOTE FINANCIAL AID OUTREACH ACTIVITIES, AND PROMOTE FINANCIAL LITERACY AND SMALL EDUCATIONAL SCHOLARSHIPS.
THROUGH AUGUST 31, 2020, THE ORGANIZATION IN CONJUNCTION WITH THE PANHANDLE NON-PROFITS, PROVIDED FOR SERVICES UTILIZING ITS DEVELOPED 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). THROUGH AUGUST 31, 2020, THE ORGANIZATION PROVIDED 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jimmy Parker President | Officer | 30 | $187,710 |
John Wright Sr Vice Pres | Officer | 30 | $160,728 |
Zach Bell CFO | Officer | 30 | $121,442 |
Tammy Roark Chair | OfficerTrustee | 2 | $0 |
Jan Benton Vice Chair | OfficerTrustee | 2 | $0 |
Michael P Ryan Secretary | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Nelnet Inc Loan Sub-servic | 12/30/18 | $1,949,780 |
Xerox Education Services Inc Loan Sub-servic | 12/30/18 | $2,483,843 |
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 | $638,954 |
| Investment income | $12,989 |
| 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 | $651,943 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $7,300 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $225,901 |
| Compensation of current officers, directors, key employees. | $43,854 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $660,609 |
| Pension plan accruals and contributions | $86,162 |
| Other employee benefits | $154,252 |
| Payroll taxes | $66,074 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,669 |
| Fees for services: Accounting | $23,706 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $47,250 |
| Advertising and promotion | $7,131 |
| Office expenses | $20,893 |
| Information technology | $58,626 |
| Royalties | $0 |
| Occupancy | $67,222 |
| Travel | $6,662 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $31,228 |
| Insurance | $31,512 |
| All other expenses | $0 |
| Total functional expenses | $1,504,126 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,088,180 |
| Savings and temporary cash investments | $1,501,603 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $229,023 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $10,128 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $95,189 |
| Net Land, buildings, and equipment | $402,059 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $0 |
| Accounts payable and accrued expenses | $269,410 |
| 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 | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $10,056,772 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $0 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
New Mexico Educational Assistance Foundation Albuquerque, NM | $392,805,656 | $19,955,288 |
Greater Texas Foundation Bryan, TX | $0 | $15,972,442 |
Post Oak School Bellaire, TX | $33,296,853 | $15,447,844 |
American Indian Graduate Center Inc Albuquerque, NM | $28,393,677 | $10,605,933 |
Robert G Carr & Nona K Carr Scholarship Foundation San Angelo, TX | $175,014,798 | $4,176,344 |
Abell-Hanger Foundation Midland, TX | $130,201,135 | $12,262,823 |
J F Maddox Foundation Hobbs, NM | $240,372,497 | $15,567,055 |
Indigenous Education Inc Albuquerque, NM | $3,738,546 | $7,442,761 |
Higher Education Servicing Corp In Arlington, TX | $44,544,807 | $11,853,938 |
Brazos Higher Education Service Corporation Inc Waco, TX | $152,724,525 | $12,631,577 |
Smart Bowling Scholarship Funding Corporation Arlington, TX | $97,151,764 | $16,570,188 |
New Mexico Student Loan Guarantee Corporation Albuquerque, NM | $15,866,075 | $3,044,592 |