Pheaa Student Loan Foundation Inc
- Assets
- $2.2b
- Revenue
- $55.4m
- Investments
- $0.0
- Employees
- 0
- Location
- Harrisburg, PA
- Founding
- 08/2003
- Data as of
- 06/2022
- EIN
- 51-0423553
Organization Overview
Pheaa Student Loan Foundation Inc is located in Harrisburg, PA. The organization was established in 2003. According to its NTEE Classification (W60) the organization is classified as: Financial Institutions, under the broad grouping of Public & Societal Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Pheaa Student Loan Foundation 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 06/2022, Pheaa Student Loan Foundation Inc generated $55.4m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (13.6%) each year. All expenses for the organization totaled $41.5m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (11.3%) per year over the past 7 years. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE O
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nathaniel D Hench President And Director | OfficerTrustee | 1 | $0 |
Kyle Lefever Secretary And Director | OfficerTrustee | 1 | $0 |
William Walker Treasurer And Director | OfficerTrustee | 1 | $0 |
Kristin Moore End 0122 Director | Trustee | 1 | $0 |
Rebecca Howell Director | Trustee | 1 | $0 |
Brian Hamilton Start 0222 Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Bmo Capital Markets Broker/deal | 6/29/22 | $2,869,949 |
Pheaa Loan Servicing | 6/29/22 | $9,976,672 |
M&t Bank Trustee | 6/29/22 | $397,021 |
Bank Of America - Merrill Lynch Investment Banking | 6/29/22 | $371,355 |
Credit Suisse Investment Banking | 6/29/22 | $371,355 |
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 | $55,252,677 |
| Investment income | $141,579 |
| 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 | $55,394,256 |
| 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 | $0 |
| Fees for services: Legal | $16,843 |
| Fees for services: Accounting | $18,500 |
| 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 | $24,942,734 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $886,410 |
| Total functional expenses | $41,474,609 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,309,826 |
| Savings and temporary cash investments | $85,511,647 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $74,098,145 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $2,041,742,416 |
| 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 | $0 |
| Other assets | $0 |
| Total assets | $2,204,662,034 |
| Accounts payable and accrued expenses | $2,828,471 |
| 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 | $2,019,714,540 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $2,022,543,011 |
| Net assets without donor restrictions | $182,119,023 |
| 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 | $2,204,662,034 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Accesslex Institute West Chester, PA | $2,183,370,969 | $71,548,007 |
Pheaa Student Loan Foundation Inc Harrisburg, PA | $2,204,662,034 | $55,394,256 |
Opportunity Finance Network Philadelphia, PA | $225,364,675 | $52,021,160 |
Anabaptist Financial Lewisburg, PA | $625,930,441 | $18,548,671 |
Sharefax Credit Union Inc Cincinnati, OH | $476,733,976 | $17,127,744 |
0053 Ih Credit Union Springfield, OH | $344,796,959 | $14,795,069 |
544 C E S Credit Union Inc Mount Vernon, OH | $208,699,156 | $7,355,905 |
Friends Fiduciary Corporation Philadelphia, PA | $693,443,242 | $5,444,683 |
Provident Loan Society Of New York New York, NY | $16,413,058 | $4,285,682 |
1087 Millstream Area Credit Union Inc Findlay, OH | $59,199,918 | $3,448,457 |
True Access Capital Corporation Wilmington, DE | $20,176,608 | $8,295,807 |
Christian Family Credit Union Inc Milford, OH | $92,848,088 | $2,695,170 |