Nonprofit · EIN 64-0642776
MISSISSIPPI HIGHER EDUCATION ASSISTANCE CORPORATION
Tax-exempt · JACKSON, MS 39296
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $8,626,790 | $7,762,746 | $864,044 | $98,577,498 | $63,908,854 | $34,668,644 |
| December 31, 2023 | 990 | $9,781,341 | $9,009,973 | $771,368 | $117,087,253 | $83,282,653 | $33,804,600 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $3,185,522
- of which government grants
- $3,185,522
- Program service revenue
- $4,791,497
- Investment income
- $649,771
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $822,000
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Depreciation
- $280,565
- Program services (functional)
- $7,579,909
- Management and general (functional)
- $182,837
Balance sheet and other
- Total assets, start of year
- $117,087,253
- Total assets, end of year
- $98,577,498
- Total liabilities, end of year
- $63,908,854
- Net assets, end of year
- $34,668,644
- Net assets without donor restrictions
- $34,668,644
- Gross receipts
- $8,626,790
- Employees
- 0
- Volunteers
- 1
- Year formed
- 1980
- State of legal domicile
- MS
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 December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| James McHale | President/CEO Officer | 1 | $0 | $293,500 | $70,527 |
| William Alvis | CFO/Treasurer Officer | 1 | $0 | $205,906 | $54,666 |
| Minette Ketchings | COO/Secretary Officer | 1 | $0 | $166,764 | $31,849 |
| Nathan Slater | Board Member/Board Chair Trustee or director, Officer | 1 | $0 | $10,800 | $0 |
| John Hill | Board Member Trustee or director | 1 | $0 | $7,800 | $0 |
| Robert Leard | Board Member Trustee or director | 1 | $0 | $7,200 | $0 |
| Debra McGee | Board Member/Board Vice Chair Trustee or director, Officer | 1 | $0 | $6,900 | $0 |
| Cedric Bradley | Board Member Trustee or director | 1 | $0 | $6,900 | $0 |
| David Martin | Board Member Trustee or director | 1 | $0 | $6,300 | $0 |
| Michael Cormack | Board Member Trustee or director | 1 | $0 | $5,700 | $0 |
| Errick Simmons | Board Member Beg 5/28/24 Trustee or director | 1 | $0 | $4,200 | $0 |
| Carla Kirkland | Board Member Beg 5/28/24 Trustee or director | 1 | $0 | $3,900 | $0 |
| Mike Highfield | Board Member Beg 5/28/24 Trustee or director | 1 | $0 | $3,000 | $0 |
| Andrew Mullins | Board Member Through 5/28/24 Trustee or director | 1 | $0 | $2,700 | $0 |
| Camille Young | Board Member Trustee or director | 1 | $0 | $2,400 | $0 |
2 more people on this return
| Name | Title | Hours / week | Compensation | From related orgs |
|---|---|---|---|---|
| Eddie Carlisle | Board Member Through 5/28/24 Trustee or director | 1 | $0 | $1,500 |
| Haley Fisackerly | Board Member Trustee or director | 1 | $0 | $1,500 |
990 for the year ended December 31, 2023: 14 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| JAMES E MCHALE | PRESIDENT/CEO Officer | 1 | $0 | $282,701 | $17,490 |
| WILLIAM F ALVIS | CFO/TREASURER Officer | 1 | $0 | $197,670 | $24,347 |
| MINETTE D KETCHINGS | DIRECTOR OF OPERATIONS/CON Officer | 1 | $0 | $156,659 | $17,874 |
| NATHAN SLATER | BOARD CHAIR Trustee or director, Officer | 1 | $0 | $8,950 | $0 |
| JOHN F HILL | DIRECTOR Trustee or director | 1 | $0 | $8,150 | $0 |
| ROBERT LEARD | DIRECTOR Trustee or director | 1 | $0 | $7,200 | $0 |
| DAVID MARTIN | DIRECTOR Trustee or director | 1 | $0 | $7,200 | $0 |
| DEBRA MCGEE | BOARD VICE-CHAIR Trustee or director, Officer | 1 | $0 | $6,600 | $0 |
| ANDREW MULLINS | DIRECTOR Trustee or director | 1 | $0 | $6,600 | $0 |
| EDWARD CARLISLE | DIRECTOR Trustee or director | 1 | $0 | $6,000 | $0 |
| MICHAEL CORMACK JR | DIRECTOR Trustee or director | 1 | $0 | $5,400 | $0 |
| CAMILLE YOUNG | DIRECTOR Trustee or director | 1 | $0 | $5,400 | $0 |
| CEDRIC BRADLEY | DIRECTOR, BEGIN 5/2023 Trustee or director | 1 | $0 | $3,900 | $0 |
| HALEY FISACKERLY | DIRECTOR Trustee or director | 1 | $0 | $3,000 | $0 |
Address and contacts
- Address (IRS master file)
- PO BOX 5008, JACKSON, MS 39296-5008
- Principal officer (990 for 2024)
- William F Alvis, PO Box 5008, Jackson, MS 39296
- Signed the 990
- William F Alvis, CFO
- Phone
- (601) 321-5555
- Return prepared by
- Forvis Mazars LLP
Mission
Secondary Market for Student Loans, Approximately 4,972 clients were served in 2024. The primary source of funds to acquire the student loans was the issuance of tax-exempt bonds and taxable notes. In July 2014, the Corporation amended its Articles of Incorporation expanding its exempt purpose and refinanced its tax-exempt bonds with taxable bonds. The Corporation is the parent of Woodward Hines Education Foundation (WHEF) which provides administrative, staffing and management services to the Corporation. in addition, WHEF provides college planning services to students and parents including college access and financial aid counseling in the state of Mississippi through its three college planning centers.
Program accomplishments
- THE CORPORATION SERVICED STUDENT LOANS INCURRED UNDER THE HIGHER EDUCATION ACT OF 1965 AS AMENDED. THE PRIMARY SOURCE OF FUNDS WAS THE ISSUANCE OF TAX-EXEMPT BONDS AND TAXABLE NOTES. IN 2014, THE CORPORATION ISSUED TAXABLE BONDS TO REFINANCE ITS DEBT AND IS NO LONGER ELIGIBLE TO ISSUE TAX-EXEMPT BONDS.Expenses $6,757,909 · revenue $4,791,497
- FUNDS CONTRIBUTED TO WOODWARD HINES EDUCATION FOUNDATION FOR ITS GENERAL OPERATIONS.Expenses $822,000 · grants $822,000
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 December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 64-0642776
- 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
- 1981
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Public and societal benefit (W60)
- Assets (IRS master file)
- $98,577,498
- Income (IRS master file)
- $8,626,790
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $8,626,790 | $7,762,746 | $98,577,498 | XML |
| 990 | December 2023 | $9,781,341 | $9,009,973 | $117,087,253 | XML |
| 990 | December 2022 | $7,247,326 | $6,296,492 | $137,650,117 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
| 990 | December 2017 | – | – | – | IRS |
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 64-0642776).
Questions about MISSISSIPPI HIGHER EDUCATION ASSISTANCE CORPORATION
- What is the EIN of MISSISSIPPI HIGHER EDUCATION ASSISTANCE CORPORATION?
- The employer identification number (EIN) of MISSISSIPPI HIGHER EDUCATION ASSISTANCE CORPORATION is 64-0642776.
- Is MISSISSIPPI HIGHER EDUCATION ASSISTANCE CORPORATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1981.
- Are donations to MISSISSIPPI HIGHER EDUCATION ASSISTANCE CORPORATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does MISSISSIPPI HIGHER EDUCATION ASSISTANCE CORPORATION 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 MISSISSIPPI HIGHER EDUCATION ASSISTANCE CORPORATION due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did MISSISSIPPI HIGHER EDUCATION ASSISTANCE CORPORATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of MISSISSIPPI HIGHER EDUCATION ASSISTANCE CORPORATION?
- The 990 for the year ended December 31, 2024 names William F Alvis.
- Who are the officers and directors of MISSISSIPPI HIGHER EDUCATION ASSISTANCE CORPORATION?
- The 990 for the year ended December 31, 2024 lists 17 people; 0 received compensation from the organization.
- How much revenue does MISSISSIPPI HIGHER EDUCATION ASSISTANCE CORPORATION have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $8,626,790, expenses of $7,762,746 and total assets of $98,577,498 at year end.
Other nonprofits in JACKSON
- ONE VOICE EIN 02-0787550 · last filed 990 for 2024
- JSU TIGER FUND ATHLETIC FOUNDATION EIN 47-4016279 · last filed 990 for 2025
- LANIER HIGH SCHOOL CENTENNIAL STEERING COMMITTEE INC EIN 92-2824209 · last filed 990-EZ for 2025
- GOVERNORS MANSION FOUNDATION INC EIN 64-0813197 · last filed 990 for 2025
- ROYAL COMMONWEALTH SOCIETY BRANCH OF THE UNITED STATES OF AMERICA EIN 83-3135681 · last filed 990-N for 2025
- MISSISSIPPI MUNICIPAL FOUNDATION EIN 64-0931156 · last filed 990-N for 2024
- JACKSON CONNECT EIN 93-4602203 · last filed 990-N for 2024
- BOILALERT EIN 99-1503432 · last filed 990-N for 2025
All nonprofits in JACKSON · Mississippi · Public and societal benefit