2025-06-19T10:45:20-04:00 2024-12-31 463602660 JOHNSON & SHELDON PLLC PO BOX 509 AMARILLO TX 791050509 990 2024-01-01 237025386 PANHANDLE-PLAINS HIGHER EDUCATION FOUNDATION PANH 8063244100 3000 FM 2590 CANYON TX 79015 JIMMY PARKER PRESIDENT/CEO 8063244100 2025-06-18 true true RICHARD W BLANKENSHIP CPA P00172630 8063717661 2025-06-18 2024 2025-03-06 01:10:19Z JIMMY PARKER 3000 FM 2590 CANYON TX 79015 15638275 false X WWW.PPHEF.ORG X 1979 TX THE FOUNDATION'S PRIMARY PURPOSE IS TO PROVIDE SCHOLARSHIPS TO QUALIFIED INDIVIDUALS FOR ELIGIBLE EDUCATIONAL EXPENSES CONSISTING OF TUITION AND FEES, BOOKS AND SUPPLIES, ROOM AND BOARD AND INCIDENTAL EXPENSES RELATED TO ATTENDANCE AT AN ACCREDITED EDUCATIONAL INSTITUTION IN THE STATE OF TEXAS OFFERING AN ACADEMIC DEGREE PROGRAM OF AT LEAST TWO YEARS SCHOOL ATTENDANCE. 7 5 12 0 0 42738 28160 6127286 8731115 0 6170024 8759275 3106092 3861842 0 1714304 1717842 0 0 1397095 1467097 6217491 7046781 -47467 1712494 166113977 174847285 253349 268961 165860628 174578324 X THE FOUNDATION'S PRIMARY PURPOSE IS TO PROVIDE SCHOLARSHIPS TO QUALIFIED INDIVIDUALS FOR ELIGIBLE EDUCATIONAL EXPENSES CONSISTING OF TUITION AND FEES, BOOKS AND SUPPLIES, ROOM AND BOARD AND INCIDENTAL EXPENSES RELATED TO ATTENDANCE AT AN ACCREDITED EDUCATIONAL INSTITUTION IN THE STATE OF TEXAS OFFERING AN ACADEMIC DEGREE PROGRAM OF AT LEAST TWO YEARS SCHOOL ATTENDANCE. false false 4259427 3861842 THE FOUNDATION'S PRIMARY PURPOSE IS TO PROVIDE SCHOLARSHIPS TO QUALIFIED INDIVIDUALS FOR ELIGIBLE EDUCATIONAL EXPENSES CONSISTING OF TUITION AND FEES, BOOKS AND SUPPLIES, ROOM AND BOARD AND INCIDENTAL EXPENSES RELATED TO ATTENDANCE AT AN ACCREDITED EDUCATIONAL INSTITUTION IN THE STATE OF TEXAS OFFERING AN ACADEMIC DEGREE PROGRAM OF AT LEAST TWO YEARS' SCHOOL ATTENDANCE. 80287 28160 THE FOUNDATION PROVIDES SERVICES TO PUBLIC AND NON-PROFIT INSTITUTIONS OF HIGHER EDUCATION, INCLUDING LOAN BILLING, ANALYSIS OF STUDENT LOAN DEFAULT RATES AND PROVIDING STATE MANDATED STUDENT LOAN DEBT DISCLOSURE NOTICES TO STUDENTS CONCERNING THEIR OUTSTANDING FEDERAL AND/OR STATE STUDENT LOAN DEBT. 85547 THE FOUNDATION PROMOTES EDUCATIONAL OPPORTUNITIES AND EDUCATIONAL ASSISTANCE FOR RESIDENTS IN THE STATE OF TEXAS. EDUCATIONAL OPPORTUNITIES CONSISTS PRIMARILY OF PROVIDING OUTREACH TO STUDENTS AND PARENTS CONCERNING FINANCIAL AID OPPORTUNITIES TO ASSIST WITH THE COST OF ATTENDING COLLEGE. EDUCATIONAL ASSISTANCE CONSISTS PRIMARILY OF PROVIDING INFORMATION TO STUDENTS AND PARENTS ABOUT FINANCIAL AID OPPORTUNITIES THAT MAY BE AVAILABLE AT THE FEDERAL OR STATE LEVEL, HOW AND WHEN TO APPLY, AND ASSISTANCE IN COMPLETING THE FREE APPLICATION FOR FEDERAL STUDENT AID (FAFSA). THE FOUNDATION ALSO PROVIDES LOAN BORROWERS ASSISTANCE WITH REPAYMENT OPTIONS THAT MAY BE AVAILABLE TO THEM TO MITIGATE DELINQUENCIES/DEFAULTS. 4425261 true false false true false false false false false false true true false false false true true false false false false false false false false false false false true true false false false false false false false false false false false false false false false false false true 7 0 12 true false false false false false false false false false false false false false false X 7 5 false false false false false false false true true false false true true true true true true true true false X JIMMY PARKER 8063244100 3000 FM 2590 CANYON TX 79015 JIMMY PARKER PRESIDENT/CE 40.00 X X 241671 0 34351 ZACH BELL CFO 40.00 X X 153221 0 33839 RITA CRADDOCK BOARD CHAIR 2.00 X X 0 0 0 TAMMY ROARK VICE CHAIR 2.00 X X 0 0 0 LYNDA TINSLEY BOARD SECRET 2.00 X X 0 0 0 MICHAEL P RYAN DIRECTOR 2.00 X 0 0 0 JAN BENTON DIRECTOR 2.00 X 0 0 0 394892 68190 2 false true false BLONKVIST IG RBC WEALTH MANAGEMENT TOWER 2 550 WEST TEXAS STE 120 MIDLAND TX 79701 INVESTMENT MGT 529482 JP MORGAN CHASE & CO 420 THROCKMORTON ST FLOOR 3 FORT WORTH TX 76201 INVESTMENT MGT 187271 2 STUDENT LOAN INTEREST 522298 25210 25210 STUDENT LOAN DEFAULT CONSULTI 522298 2950 2950 28160 4411135 4411135 11198980 6879000 4319980 4319980 4319980 8759275 28160 8731115 3861842 3861842 1347473 388715 958758 109214 31506 77708 165291 47683 117608 95864 27655 68209 15724 15724 45300 45300 39000 39000 719657 719657 18858 338 18520 139663 24549 115114 27540 16523 11017 159569 159569 46065 46065 OTHER EXPENSES 188851 26450 162401 MAINT & OPERATING FEES 40054 40054 DUES & SUBSCRIPTIONS 26816 26816 7046781 4425261 2621520 0 3738181 3707492 8725613 3141796 72024 88390 102743 86211 97072 4197827 579833 3740563 3617994 149648642 164194541 166113977 174847285 253349 268961 253349 268961 X 165860628 174578324 165860628 174578324 166113977 174847285 X 1712494 7005202 X false true X true false X 9929 48433 47681 42738 28160 176941 9929 48433 47681 42738 28160 176941 176941 1174867 4113883 5130181 3573728 4411135 18403794 1174867 4113883 5130181 3573728 4411135 18403794 1184796 4162316 5177862 3616466 4439295 18580735 0.00950 0.67420 0.99000 0.33000 X false false false false false false false false true 39000 39000 false SCHEDULE C, PART II-B, LINE 1 PPHEF PAID A THIRD PARTY CALLED COLUMBIA STRATEGIC COUNSEL (CSC) 3,250 PER MONTH FOR LOBBYING. CSC WORKED TO IDENTIFY, RECRUIT AND EDUCATE SELECT MEMBERS OF CONGRESS WHO SIT ON THE RELEVANT HOUSE AND SENATE COMMITTEES INCLUDING THE FINANCE/WAYS AND MEANS, APPROPRIATIONS AND EDUCATION AND KEY MEMBERS FROM THE STATE OF TEXAS. 348267 348267 3849560 579833 3269727 3617994 EQUITIES DOMESTIC 66617646 F EQUITIES FOREIGN 35942673 F PRIVATE CREDIT STRATEGY 33676969 F EQUITY FUNDS 23197396 F BONDS CORPORATE 2633476 F BONDS TAX EXEMPT 2126381 F 164194541 X 15044820 7005202 7005202 8039618 719657 719657 8759275 6327124 6327124 719657 719657 7046781 SCHEDULE D, PAGE 3, PART X THE FOUNDATION IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(A) AS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (THE CODE), AND CURRENTLY HAS BEEN DETERMINED NOT TO BE A PRIVATE FOUNDATION UNDER SECTION 509(A) OF THE CODE. AS A RESULT, INCOME TAXES ARE NOT INCLUDED IN THE FOUNDATION'S FINANCIAL STATEMENTS. THE FOUNDATION COMPLIES WITH FASB ASC TOPIC 740, ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES (FASB ASC 740), WHICH ADDRESSES THE DETERMINATION OF WHETHER TAX BENEFITS CLAIMED OR EXPECTED TO BE CLAIMED ON A TAX RETURN SHOULD BE RECORDED IN THE FINANCIAL STATEMENTS. UNDER THIS GUIDANCE, THE FOUNDATION MAY RECOGNIZE THE TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE-LIKELY-THAN-NOT THAT THE TAX POSITION WILL BE SUSTAINED ON EXAMINATION BY TAXING AUTHORITIES, BASED ON THE TECHNICAL MERITS OF THE POSITION. THE TAX BENEFITS RECOGNIZED IN THE FINANCIAL STATEMENTS FROM SUCH POSITION ARE MEASURED BASED ON THE LARGEST BENEFIT THAT HAS A GREATER THAN 50% LIKELIHOOD OF BEING REALIZED UPON ULTIMATE SETTLEMENT. THE GUIDANCE ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES ALSO ADDRESSES DE-RECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES ON INCOME TAXES, AND ACCOUNTING IN INTERIM PERIODS. MANAGEMENT EVALUATED THE FOUNDATION'S TAX POSITIONS AND CONCLUDED THAT THE FOUNDATION HAS TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THIS GUIDANCE. WITH FEW EXCEPTIONS, THE FOUNDATION IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY THE U.S. FEDERAL TAX AUTHORITIES FOR YEARS ENDING BEFORE DECEMBER 31, 2021. SCHEDULE D, PAGE 4, PART XI, LINE 4B INVESTMENT FEES NETTED AGAINST REVENUE ON FINANCIALS 719,657 SCHEDULE D, PAGE 4, PART XII, LINE 4B INVESTMENT FEES NETTED AGAINST REVENUE ON FINANCIALS 719,657 true SCHOLARSHIPS 1604 3861842 SCHEDULE I, PAGE 1, PART I, LINE 2 PPHEF OPERATES THE WINDMILL SCHOLARSHIP PROGRAM TO HELP STUDENTS WITH FUNDING TOWARDS THEIR HIGHER EDUCATION COSTS. THE GOAL OF THE WINDMILL SCHOLARSHIP PROGRAM IS TO ASSIST DESERVING STUDENTS WITH THEIR EDUCATIONAL COSTS AS THEY WORK TOWARDS THEIR CHOSEN HIGHER EDUCATION GOALS AT COLLEGES AND UNIVERSITIES. PPHEF HAS WRITTEN REQUIREMENTS, TERMS AND CONDITIONS FOR STUDENT APPLICANTS INCLUDING GENERAL AND ACADEMIC CRITERIA AND AN ONLINE APPLICATION PROCESS. STUDENTS RECEIVING SCHOLARSHIPS ALSO HAVE RENEWAL REQUIREMENTS INCLUDING SUBMISSION OF GRADES TO SHOW THAT THE STUDENT MAINTAINED SATISFACTORY ACADEMIC PROGRESS AS OUTLINED IN THE PROGRAM REQUIREMENTS. X X false false false false false false false false false JIMMY PARKER PRESIDENT/CEO 216671 25000 20014 14337 276022 ZACH BELL CFO 133221 20000 12703 21136 187060 FORM 990 - ORGANIZATION'S MISSION THE FOUNDATION'S PRIMARY PURPOSE IS TO PROVIDE SCHOLARSHIPS TO QUALIFIED INDIVIDUALS FOR ELIGIBLE EDUCATIONAL EXPENSES CONSISTING OF TUITION AND FEES, BOOKS AND SUPPLIES, ROOM AND BOARD AND INCIDENTAL EXPENSES RELATED TO ATTENDANCE AT AN ACCREDITED EDUCATIONAL INSTITUTION IN THE STATE OF TEXAS OFFERING AN ACADEMIC DEGREE PROGRAM OF AT LEAST TWO YEARS SCHOOL ATTENDANCE. FORM 990 WITH THE FILING OF ITS 2024 FORM 990 AND AS NOTED ON SCHEDULE A, THE FOUNDATION FAILED BOTH ITS PUBLIC SUPPORT TEST AND ITS INVESTMENT INCOME TEST UNDER SECTION 509(A)(2), AND WILL CONTINUE TO FAIL GOING FORWARD AS THE VAST MAJORITY OF THE FOUNDATION'S TOTAL SUPPORT CONTINUES TO COME FROM INVESTMENT EARNINGS. THEREFORE, BEGINNING JANUARY 1, 2025, THE FOUNDATION WILL NO LONGER QUALIFY AS A PUBLIC CHARITY UNDER SECTION 509(A)(2) AND RATHER WILL BE A PRIVATE FOUNDATION FOR LIMITED PURPOSES BEGINNING JANUARY 1, 2025 AND FOR ALL PURPOSES BEGINNING JANUARY 1, 2026. AS A PRIVATE FOUNDATION GOING FORWARD, THE FOUNDATION WILL CONTINUE TO OPERATE AS IT WAS AND WITHOUT ANY SIGNIFICANT CHANGES IN ITS PURPOSE, MISSION, OPERATIONS, MANAGEMENT AND EXISTING SCHOLARSHIP PROGRAM. HOWEVER, THE FOUNDATION WILL NO LONGER ANNUALLY FILE IRS FORM 990 AND RATHER FILE IRS FORM 990-PF BEGINNING FOR 2025 AND GOING FORWARD. RELATED TO THIS CHANGE MOVING FROM A PUBLIC CHARITY TO A PRIVATE FOUNDATION, THE FOUNDATION IS ALSO FILING FORM 8940 REQUEST OR MISCELLANEOUS DETERMINATION WITH THE IRS DURING JULY 2025 TO OBTAIN ADVANCE APPROVAL OF ITS SCHOLARSHIP PROCEDURES UNDER SECTION 4945(G) SUCH THAT IT MAY CONTINUE TO OPERATE ITS EXISTING SCHOLARSHIP PROGRAM AS A PRIVATE FOUNDATION GOING FORWARD. FORM 990, PAGE 6, PART VI, LINE 11B THE BOARD OF DIRECTORS IS PROVIDED AN ELECTRONIC COPY OF THE FORM 990 ONE WEEK PRIOR TO FILING. THE DIRECTORS THEN HAVE A WEEK TO REVIEW AND GIVE COMMENTS BEFORE THE RETURN IS FILED WITH THE INTERNAL REVENUE SERVICE. FORM 990, PAGE 6, PART VI, LINE 12C THE BOARD OF DIRECTORS ARE REQUIRED TO UPDATE THEIR CONFLICT OF INTEREST STATEMENTS AT THE ANNUAL BOARD MEETING. A RECORD OF THIS IS KEPT IN THE MINUTES OF THE BOARD MEETING. FORM 990, PAGE 6, PART VI, LINE 15A THE COMPENSATION OF THE PRESIDENT/CEO AND CFO OF THE FOUNDATION ARE ESTABLISHED BY THE COMPENSATION COMMITTEE WHICH IS MADE UP OF THE INDEPENDENT DIRECTORS ON THE BOARD ON AN ANNUAL BASIS. FORM 990, PAGE 6, PART VI, LINE 15B THE COMPENSATION OF OFFICERS AND KEY EMPLOYEES OF THE FOUNDATION ARE ESTABLISHED BY THE COMPENSATION COMMITTEE WHICH IS MADE UP OF THE INDEPENDENT DIRECTORS ON THE BOARD ON AN ANNUAL BASIS. FORM 990, PAGE 6, PART VI, LINE 19 THE FOUNDATION'S ANNUAL AUDITED FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. THE GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST. ARTICLES OF INCORPORATION AND PUBLIC DOCUMENTS ARE PUBLIC INFORMATION AND ARE AVAILABLE FROM THE SECRETARY OF STATE. FORM 990, PART XI, LINE 9 INVESTMENT FEES NETTED AGAINST REVENUE ON FINANCIALS -719,657 INVESTMENT FEES NETTED AGAINST REVENUE ON FINANCIALS 719,657