Texas Guaranteed Student Loan Corporation
- Assets
- $788.0m
- Revenue
- $132.1m
- Investments
- $18.8m
- Employees
- 718
- Location
- Round Rock, TX
- Founding
- 10/1980
- Data as of
- 09/2021
- EIN
- 74-2094204
Organization Overview
Texas Guaranteed Student Loan Corporation, operating under the name Trellis Company, is located in Round Rock, TX. The organization was established in 1980. According to its NTEE Classification (W60) the organization is classified as: Financial Institutions, under the broad grouping of Public & Societal Benefit and related organizations. As of 09/2021, Trellis Company employed 718 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Trellis Company 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 09/2021, Trellis Company generated $132.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (10.3%) each year. All expenses for the organization totaled $143.9m during the year ending 09/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Trellis Company has awarded 131 individual grants totaling $213,257,423. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
"OUR VISION IS THAT PEOPLE RECEIVE TRUSTED GUIDANCE TO MAKE INFORMED DECISIONS AND IMPROVE THEIR LIVES." TRELLIS ADMINISTERS THE FEDERAL FAMILY EDUCATION LOAN PROGRAM (FFELP).
Describe the Organization's Program Activity:
SEE SCHEDULE O
SEE SCHEDULE O
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Scott Giles President/ceo (to 1/21) | Officer | 46 | $620,145 |
Donna M Fritz Vp/mktg & Comms | Officer | 48 | $242,855 |
James E Zimmerman Vp/information Tech | Officer | 42 | $240,913 |
Susan G High Vp/operations | Officer | 40 | $225,467 |
Danen T Shiek Vp/sales | Officer | 44 | $219,865 |
Gregory H Dickenson General Counsel | Officer | 44 | $206,079 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Immediate Credit Recovery Inc (Icr) Collection Service | 9/29/21 | $6,973,364 |
Convergeone Inc Configuration/telecom Services | 9/29/21 | $459,907 |
Thompson Coburn Llp Legal Services | 9/29/21 | $417,233 |
Kpmg Llp Audit/tax Service | 9/29/21 | $313,736 |
Protiviti Inc Audit Services | 9/29/21 | $330,649 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $71,072,547 |
| All other contributions, gifts, grants, and similar amounts not included above | $16,625 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $71,089,172 |
| Total Program Service Revenue | $37,176,187 |
| Investment income | $6,390,621 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $313,325 |
| Net Gain/Loss on Asset Sales | $17,090,744 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $132,060,049 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $80,360,617 |
| 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. | $4,367,469 |
| Compensation of current officers, directors, key employees. | $1,155,960 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $24,697,688 |
| Pension plan accruals and contributions | $1,237,133 |
| Other employee benefits | $2,781,910 |
| Payroll taxes | $2,214,448 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $199,338 |
| Fees for services: Accounting | $721,006 |
| Fees for services: Lobbying | $40,408 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $19,613,448 |
| Advertising and promotion | $24,963 |
| Office expenses | $853,112 |
| Information technology | $3,396,854 |
| Royalties | $0 |
| Occupancy | $406,156 |
| Travel | $89,445 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $121,987 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,489,044 |
| Insurance | $398,474 |
| All other expenses | $0 |
| Total functional expenses | $143,871,157 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $45,553,918 |
| Pledges and grants receivable | $17,240,699 |
| Accounts receivable, net | $1,688,767 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,021,912 |
| Net Land, buildings, and equipment | $22,844,818 |
| Investments—publicly traded securities | $287,318,257 |
| Investments—other securities | $18,750,515 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $393,541,965 |
| Total assets | $787,960,851 |
| Accounts payable and accrued expenses | $21,284,014 |
| 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 | $393,888,853 |
| Total liabilities | $415,172,867 |
| Net assets without donor restrictions | $0 |
| 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 | $22,844,817 |
| Retained earnings, endowment, accumulated income, or other funds | $349,943,167 |
| Total liabilities and net assets/fund balances | $787,960,851 |
Grants Awarded
Over the last fiscal year, Texas Guaranteed Student Loan Corporation has awarded $80,298,332 in support to 21 organizations.
| Grant Recipient | Amount |
|---|---|
Round Rock, TX PURPOSE: CAPACITY BLDG/STUDENT FUND | $79,953,723 |
San Antonio, TX PURPOSE: STUDENT FUND - ALAMO COLLEGES | $94,487 |
TEXAS STATE UNIVERSITY PURPOSE: STUDENT FUND | $35,000 |
GEORGIA STATE UNIVERSITY PURPOSE: STUDENT FUND | $30,000 |
LAWSON STATE COMMUNITY COLLEGE PURPOSE: STUDENT FUND | $20,000 |
ALBANY STATE UNIVERSITY PURPOSE: STUDENT FUND | $15,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Gecu El Paso, TX | $3,723,377,510 | $222,114,762 |
Texas Guaranteed Student Loan Corporation Round Rock, TX | $787,960,851 | $132,060,049 |
Eecu Fort Worth, TX | $3,346,818,050 | $132,703,955 |
Datcu Corinth, TX | $1,472,218,560 | $58,120,235 |
Smart Financial Credit Union Houston, TX | $863,045,485 | $34,269,474 |
East Texas Professional Credit Longview, TX | $963,213,382 | $39,825,100 |
Texell Credit Union Temple, TX | $562,565,721 | $32,645,542 |
Capital Certified Development Corporation Austin, TX | $10,331,482 | $7,851,539 |
Brazos Student Finance Corporation Waco, TX | $111,165,594 | $4,506,585 |
Trans Texas Southwest San Angelo, TX | $44,278,686 | $2,099,854 |
Student Loan Guarantee Foundation Of Arkansas North Little Rock, AR | $5,532,296 | $1,265 |
Human Milk Banking Association Of North America Fort Worth, TX | $1,162,714 | $410,642 |