2024-05-14T17:36:03-04:00 2023-06-30 320399203 Denman Hamilton & Associates CPA 310 Natural Resources Dr Little Rock AR 72205 990 2022-07-01 716051240 ARKANSAS RURAL ENDOWMENT FUND INC ARKA P O BOX 750 LITTLE ROCK AR 72203 CHRIS LAMPKIN MANAGER 5013752358 2023-10-19 false CHRIS LAMPKIN Robert Neil Denman P01257725 5013129491 2024-05-14 0 11 AAL2 IAL1 2022 2023-04-26 12:10:37Z TONY MINICOZZI MANAGER 1196612 false X X 1959 AR PROVIDING STUDENT AND AGRICULTURAL LOANS IN RURAL ARKANSAS 6 6 6 0 0 0 858467 883573 43989 190625 87785 122414 990241 1196612 300 0 0 454361 462725 0 0 235330 287264 689991 749989 300250 446623 30830517 31258127 178691 178179 30651826 31079948 PROVIDING STUDENT AND AGRICULTURAL LOANS IN RURAL ARKANSAS false false 749989 1196613 WITH THE PASSAGE OF ACT 27 IN 1959, THE ARKANSAS GENERAL ASSEMBLY CREATED AREF AS A PRIVATE, NONPROFIT ENTITY WITH THE SOLE PURPOSE OF MAKING AFFORDABLE LOANS TO RURAL ARKANSANS. SINCE THAT TIME, AREF HAS HELPED THOUSANDS OF ARKANSANS ATTAIN HIGHER EDUCATION TO PURSUE THEIR DREAMS. 749989 true false false false false false false false false false true false false false true false true false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false true 7 0 true 6 true false false false false false false false false false false false false false false false false false X 6 6 false false false false true true true true true false false true true true true true true true true false false AR X THE ORGANIZATION 5013752358 PO BOX 750 LITTLE ROCK AR 72203 X RICHARD ABERNATHY DIRECTOR 1.00 0.00 X 0 0 0 CHRIS LAMPKIN DIRECTOR 1.00 0.00 X 0 0 0 MARK LOWERY DIRECTOR 1.00 0.00 X 0 0 0 RONNIE ROBERTS DIRECTOR 1.00 0.00 X 0 0 0 KENNETH MOURTON DIRECTOR 1.00 0.00 X 0 0 0 ANN B PUGH DIRECTOR 1.00 0.00 X 0 0 0 PAULA TERRELL PRESIDENT 1.00 0.00 X X 0 0 0 TONY MINICOZZI EXECUTIVE DIRECTOR 1.00 0.00 X X 0 0 0 0 0 0 0 false false false EDUCATION LOANS 522291 355354 355354 CAPITALIZED LOAN INT 522291 62449 62449 AGRI LOANS 522291 465770 465770 883573 190625 190625 FEES 522291 2204 2204 OTHER INCOME 522291 27073 27073 RECOVERY OF BAD DEBT 522291 64074 64074 29063 29063 122414 1196612 1196612 0 0 110474 110474 268609 268609 54544 54544 29098 29098 27704 27704 14000 14000 22814 22814 681 681 10597 10597 59127 59127 36116 36116 3312 3312 11506 11506 PROVISION FOR LOSSES 47654 47654 COLLECTION COSTS 17820 17820 OTHER COSTS 2085 2085 33848 33848 749989 749989 0 0 13284713 14434379 100000 100000 17401997 16681004 2249 402965 362965 43312 40000 495 495 30830517 31258127 4752 178691 173427 178691 178179 X 30651826 31079948 30651826 31079948 30830517 31258127 X 446623 -18501 X false true X true false X 40000 40000 362965 362965 40000 OTHER LIABILITY 381 PAYROLL LIABILITIES 173046 173427 1196612 1196612 1196612 749989 749989 749989 Members or stockholder classes and rights Part VI line 6 Each member of the board has been assinged one share of stock in the organizaiton. They have voting rights, but do not have ownership of any of the assets of the organization. Member election for additional members Part VI line 7a Members of the board of directors may elect other members to the board. When the organization was formed by the Arkansas Legislature, there was a requirement that the State Treasurer also serve as a board member. This position is determined by open state wide elections. Governing body decisions Part VI line 7b The board or directors has the ultimate decision making authority for the management of the organization. Day to day management decisions are made by a board approved manager. Form 990 governing body review Part VI line 11 A copy of Form 990 has been made available for board review prior to filing. Conflict of interest policy compliance Part VI line 12c Board members are required to inform and discuss any situation that may be considered a conflict of interest to the operations of the board. CEO executive director top management comp Part VI line 15a Compensation for key employees is subject to board approval. Management must also submit a budget to the board relecting the salaries of other personnel. Other officer or key employee compensation Part VI line 15b Salary for employees, other than the manager, are set in a budgeted amount by the manager. The approval of the budget is the responsibility of the board. Governing documents etc available to public Part VI line 19 Governing documents and financial statements are available to the public during regular bsuiness hours of the organization. Management does request that an appointment be made for the their review by interested members of the public Explanation of other changes in net assets or fund balances Part XI line 9 ADJUSTMENTS FROM PRIOR FISCAL YEAR AUDIT