Nonprofit · EIN 20-3868073
BRAZOS EDUCATION LOAN AUTHORITY INC
Tax-exempt · WACO, TX 76712
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $62,053,242 | $51,195,636 | $10,857,606 | $815,478,066 | $578,418,227 | $237,059,839 |
| June 30, 2024 | 990 | $88,224,410 | $73,869,660 | $14,354,750 | $983,165,176 | $749,962,943 | $233,202,233 |
| June 30, 2023 | 990 | $80,022,743 | $68,132,128 | $11,890,615 | $1,149,527,962 | $918,851,091 | $230,676,871 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $60,478,353
- Investment income
- $1,574,889
- Net gain from sales of assets
- -$552,815
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Depreciation
- $843,520
- Program services (functional)
- $51,195,636
Balance sheet and other
- Total assets, start of year
- $983,165,176
- Total assets, end of year
- $815,478,066
- Total liabilities, end of year
- $578,418,227
- Net assets, end of year
- $237,059,839
- Gross receipts
- $68,472,343
- Employees
- 0
- Volunteers
- 11
- Year formed
- 2005
- State of legal domicile
- TX
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| THOMAS LITLE | PRESIDENT/CEO Officer | 1 | $0 | $895,987 | $98,152 |
| RICKY TURMAN | EVP/COO/CFO/TREASURER Officer | 1 | $0 | $659,544 | $101,455 |
| KELLI UTTECH | EVP, GENERAL COUNSEL Officer | 1 | $0 | $459,985 | $83,927 |
| TAMMY HARRALSON | CONTROLLER Officer | 1 | $0 | $258,182 | $72,119 |
| DARRELL BROOKS | ASSISTANT TREASURER Officer | 1 | $0 | $232,630 | $67,386 |
| TIFFANY JONES | SECRETARY Officer | 1 | $0 | $119,395 | $32,504 |
| Brent Helm | Director Trustee or director | 1 | $0 | $0 | $0 |
| Charles Madden | Director Trustee or director | 1 | $0 | $0 | $0 |
| Charles Reed | Director Trustee or director | 1 | $0 | $0 | $0 |
| CLAUDE ERVIN | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| CLEMENT MILAM | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| Donald Schmeltekopf | Director Trustee or director | 1 | $0 | $0 | $0 |
| Dr David Myers | Director Trustee or director | 1 | $0 | $0 | $0 |
| DR TERRY MANESS | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| Jane Allen | Director Trustee or director | 1 | $0 | $0 | $0 |
2 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Joe Nesbitt | Director Trustee or director | 1 | $0 |
| Justin Wiethorn | Director Trustee or director | 1 | $0 |
990 for the year ended June 30, 2024: 18 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| THOMAS BEN LITLE | PRESIDENT/CEO Officer | 1 | $0 | $749,347 | $79,508 |
| RICKY TURMAN | EVP/COO/CFO/TREASURER Officer | 1 | $0 | $620,836 | $94,644 |
| KELLI UTTECH | EVP, GENERAL COUNSEL Officer | 1 | $0 | $398,669 | $78,893 |
| TAMMY HARRALSON | CONTROLLER Officer | 1 | $0 | $246,347 | $67,073 |
| DARRELL BROOKS | ASSISTANT TREASURER Officer | 1 | $0 | $219,241 | $62,199 |
| TIFFANY JONES | SECRETARY Officer | 1 | $0 | $102,795 | $29,339 |
| Brent Helm | Director Trustee or director | 1 | $0 | $0 | $0 |
| Charles Madden | Director Trustee or director | 1 | $0 | $0 | $0 |
| Charles Reed | Director Trustee or director | 1 | $0 | $0 | $0 |
| CLAUDE ERVIN | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| CLEMENT MILAM | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| Davis Myers | Director Trustee or director | 1 | $0 | $0 | $0 |
| Donald Schmeltekopf | Director Trustee or director | 1 | $0 | $0 | $0 |
| DR TERRY MANESS | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| Jane Allen | Director Trustee or director | 1 | $0 | $0 | $0 |
| Joe Nesbitt | Director Trustee or director | 1 | $0 | $0 | $0 |
| Justin Wiethorn | Director Trustee or director | 1 | $0 | $0 | $0 |
| PETER KULTGEN | DIRECTOR End: 04/24 Trustee or director | 1 | $0 | $0 | $0 |
990 for the year ended June 30, 2023: 11 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| Thomas Ben Litle | PRESIDENT/CEO Officer | 1 | $0 | $691,410 | $73,360 |
| Ricky Turman | EVP/COO/CFO/TREASURER Officer | 1 | $0 | $632,670 | $75,998 |
| Kelli Uttech | EVP, General Counsel Officer | 1 | $0 | $403,310 | $70,102 |
| Tammy Harralson | CONTROLLER Officer | 1 | $0 | $241,428 | $57,555 |
| Darrell Brooks | Assistant Treasurer Officer | 1 | $0 | $217,277 | $53,520 |
| Tiffany Jones | SECRETARY Officer | 1 | $0 | $89,013 | $20,110 |
| Robert B Chambers | Director Trustee or director | 1 | $0 | $0 | $0 |
| Claude Ervin | Director Trustee or director | 1 | $0 | $0 | $0 |
| Peter Kultgen | Director Trustee or director | 1 | $0 | $0 | $0 |
| Dr Terry Maness | Director Trustee or director | 1 | $0 | $0 | $0 |
| Clement Milam | Director Trustee or director | 1 | $0 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 5609 CROSSLAKE PKWY, WACO, TX 76712-5500
- In care of
- % RICKY TURMAN EVP/COO/CFO/TR
- Mailing address (990-N for 2011)
- 2600 Washington Avenue, Waco TX 76710
- Principal officer (990 for 2024)
- RICKY TURMAN, 5609 Crosslake Pkwy, Waco, TX 76712
- Principal officer (990-N for 2011)
- Murray Watson Jr, 2600 Washington Avenue, Waco TX 76710
- Signed the 990
- RICKY TURMAN, EVP/COO/CFO/Treasurer
- Phone
- (254) 753-0915
- Website
- WWW.STUDENTLOANS.COM
- Return prepared by
- Forvis Mazars LLP
Mission
BRAZOS EDUCATION LOAN AUTHORITY, INC.'S MISSION IS TO MAKE EDUCATION A REALITY BY SUPPORTING PROGRAMS AND INITIATIVES TO FINANCE EDUCATIONAL OPPORTUNITIES.
Program accomplishments
- BRAZOS EDUCATION LOAN AUTHORITY HELD STUDENT LOANS UNDER THE TITLE IV FEDERAL FAMILY EDUCATION LOAN PROGRAM (FFELP) AND OTHER ALTERNATIVE STUDENT LOAN PROGRAMS. THESE LOANS WERE FUNDED THROUGH PERMANENT FINANCINGS AND COMPANY FUNDS.Expenses $51,195,636 · revenue $59,925,538
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 20-3868073
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (509(a)(2))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2006
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Education (B82)
- Assets (IRS master file)
- $815,478,066
- Income (IRS master file)
- $68,472,343
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $62,053,242 | $51,195,636 | $815,478,066 | XML |
| 990 | June 2024 | $88,224,410 | $73,869,660 | $983,165,176 | IRS |
| 990 | June 2023 | $80,022,743 | $68,132,128 | $1,149,527,962 | XML |
| 990 | June 2022 | $48,416,543 | $38,501,714 | $1,464,923,579 | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990 | June 2020 | – | – | – | IRS |
| 990 | June 2019 | – | – | – | IRS |
| 990 | June 2018 | – | – | – | IRS |
| 990-N for 2011 Officer: Murray Watson Jr | June 30, 2012 | ≤ $50,000 receipts | – | – | e-Postcard |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 20-3868073).
Questions about BRAZOS EDUCATION LOAN AUTHORITY INC
- What is the EIN of BRAZOS EDUCATION LOAN AUTHORITY INC?
- The employer identification number (EIN) of BRAZOS EDUCATION LOAN AUTHORITY INC is 20-3868073.
- Is BRAZOS EDUCATION LOAN AUTHORITY INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2006.
- Are donations to BRAZOS EDUCATION LOAN AUTHORITY INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does BRAZOS EDUCATION LOAN AUTHORITY INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of BRAZOS EDUCATION LOAN AUTHORITY INC due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did BRAZOS EDUCATION LOAN AUTHORITY INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of BRAZOS EDUCATION LOAN AUTHORITY INC?
- The 990 for the year ended June 30, 2025 names RICKY TURMAN.
- Who are the officers and directors of BRAZOS EDUCATION LOAN AUTHORITY INC?
- The 990 for the year ended June 30, 2025 lists 17 people; 0 received compensation from the organization.
- How much revenue does BRAZOS EDUCATION LOAN AUTHORITY INC have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $62,053,242, expenses of $51,195,636 and total assets of $815,478,066 at year end.
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