Nonprofit · EIN 81-0393527
MONTANA HIGHER EDUCATION STUDENT ASSISTANCE CORPORATION
Tax-exempt · HELENA, MT 59604
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $19,567,092 | $22,003,288 | -$2,436,196 | $280,386,190 | $204,330,070 | $76,056,120 |
| June 30, 2024 | 990 | $24,508,201 | $27,540,007 | -$3,031,806 | $320,626,994 | $242,251,517 | $78,375,477 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $695,610
- of which government grants
- $323,484
- Program service revenue
- $17,791,808
- Investment income
- $1,079,674
- Net gain from sales of assets
- $108,889
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $422,212
- Compensation of officers, directors and key employees
- $14,400
- Salaries, compensation and benefits (total)
- $14,400
- Professional fundraising fees
- $0
- Accounting fees
- $936
- Occupancy
- $45,887
- Travel
- $198,191
- Depreciation
- $1,086,722
- Program services (functional)
- $21,619,386
- Management and general (functional)
- $383,902
Balance sheet and other
- Total assets, start of year
- $320,626,994
- Total assets, end of year
- $280,386,190
- Total liabilities, end of year
- $204,330,070
- Net assets, end of year
- $76,056,120
- Publicly traded securities
- $7,820,419
- Net assets without donor restrictions
- $76,056,120
- Gross receipts
- $20,275,338
- Employees
- 0
- Volunteers
- 65
- Year formed
- 1980
- State of legal domicile
- MT
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 |
|---|---|---|---|---|---|
| SCOTT TODOROVICH | CEO MHESAC, PRES/CEO SAF Officer | 1 | $0 | $230,706 | $29,792 |
| JOLENE SELBY | CFO MHESAC, VP SAF Officer | 18 | $0 | $216,269 | $42,164 |
| KELLY CRESSWELL | EXEC DIR MHESAC, VP SAF Officer | 41 | $0 | $164,691 | $40,206 |
| KIMBERLY CUNNINGHAM | DIR MHESAC, DIR-BOARD CHAIR SAF Trustee or director | 1 | $1,800 | $1,800 | $0 |
| TERRY COSGROVE | DIR MHESAC, SEC/TREAS SAF Trustee or director | 1 | $1,800 | $1,800 | $0 |
| MICHAEL GREEN | DIR-CHAIR & OFF-PRES Trustee or director, Officer | 3 | $1,800 | $0 | $0 |
| GEORGE S OLSEN | DIR & OFF-SEC/TREAS Trustee or director, Officer | 3 | $1,800 | $0 | $0 |
| SHANNON STOBER | DIRECTOR - VICE CHAIR Trustee or director | 1 | $1,800 | $0 | $0 |
| BRIANNE ROGERS | DIRECTOR Trustee or director | 1 | $1,800 | $0 | $0 |
| JOYCE DOMBROUSKI | DIRECTOR Trustee or director | 1 | $1,800 | $0 | $0 |
| WENDY WIGERT | DIRECTOR Trustee or director | 1 | $1,800 | $0 | $0 |
| CRYSTINE MILLER | OFFICER - VICE PRESIDENT Officer | 1 | $0 | $0 | $0 |
990 for the year ended June 30, 2024: 12 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| SCOTT TODOROVICH | CEO MHESAC, PRES/CEO SAF Officer | 1 | $0 | $230,783 | $29,379 |
| JOLENE SELBY | CFO MHESAC, VP SAF Officer | 18 | $0 | $194,168 | $33,677 |
| KELLY CRESSWELL | EXEC DIR MHESAC, VP SAF Officer | 41 | $0 | $140,159 | $36,080 |
| KIMBERLY CUNNINGHAM | DIR MHESAC, DIR-BOARD CHAIR SAF Trustee or director | 1 | $1,800 | $1,800 | $0 |
| TERRY COSGROVE | DIR MHESAC, DIR SAF Trustee or director | 1 | $1,800 | $1,800 | $0 |
| MICHAEL GREEN | DIR-CHAIR & OFF-PRES Trustee or director, Officer | 3 | $1,800 | $0 | $0 |
| GEORGE S OLSEN | DIR & OFF-SEC/TREAS Trustee or director, Officer | 3 | $1,800 | $0 | $0 |
| SHANNON STOBER | DIRECTOR - VICE CHAIR Trustee or director | 1 | $1,800 | $0 | $0 |
| BRIANNE ROGERS | DIRECTOR Trustee or director | 1 | $1,800 | $0 | $0 |
| JOYCE DOMBROUSKI | DIRECTOR Trustee or director | 1 | $1,800 | $0 | $0 |
| WENDY WIGERT | DIRECTOR Trustee or director | 1 | $1,800 | $0 | $0 |
| CRYSTINE MILLER | OFFICER - VICE PRESIDENT Officer | 1 | $0 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- PO BOX 5209, HELENA, MT 59604-5209
- In care of
- % JOLENE D SELBY
- Principal officer (990 for 2024)
- MICHAEL GREEN, PO BOX 5209, HELENA, MT 59604
- Signed the 990
- MICHAEL GREEN, PRESIDENT
- Phone
- (406) 495-7800
- Website
- WWW.MHESAC.ORG
- Return prepared by
- PINION LLC
Mission
MHESAC OFFERS BORROWER BENEFITS IN THE FORM OF PRINCIPAL AND INTEREST RATE REDUCTIONS TO EXISTING STUDENT LOAN BORROWERS. ITS REACH HIGHER MONTANA (RHM) PROGRAMS CORE AREAS OF FOCUS ARE DUAL ENROLLMENT SUPPORT, STUDENT SERVICES, NETWORK SUPPORT AND OUTREACH.
Program accomplishments
- ACQUISITION AND SERVICING OF GUARANTEED STUDENT LOANS AS A SECONDARY STUDENT LOAN MARKET FOR THE FEDERAL FAMILY EDUCATION LOAN PROGRAM (FFELP). BENEFITS PROVIDED TO BORROWERS THROUGH REBATE, INCENTIVE, AND RATE REDUCTION PROGRAMS TOTALED $221 THOUSAND FOR 3,491 BORROWERS IN FISCAL YEAR 2025. $55 MILLION IN BENEFITS HAVE BEEN PROVIDED TO BORROWERS SINCE INCEPTION OF BORROWER BENEFIT PROGRAMS IN 1996. SINCE INCEPTION, MHESAC HAS PROVIDED MORE THAN $3.7 BILLION IN STUDENT LOANS TO OVER 241,000 BORROWERS.Expenses $19,333,379 · revenue $17,791,808
- RHM SERVES AS THE BACKBONE SUPPORT ORGANIZATION FOR THE MONTANA WORK-BASED LEARNING COLLABORATIVE, CONVENING OVER 30 STATEWIDE PARTNERS TO IMPROVE DATA COLLECTION AND PROGRAM DELIVERY FOR CAREER-CONNECTED LEARNING IN MONTANA.Expenses $1,144,664 · grants $62,500
- RHM OUTREACH STAFF SERVED OVER 39,000 MONTANA STUDENTS THROUGH COLLEGE AND CAREER OUTREACH, SCHOLARSHIP WORKSHOPS, SERVICES FOR YOUTH IN FOSTER CARE, DUAL ENROLLMENT AND CAREER FAIRS.Expenses $789,228
- IN FISCAL YEAR 2025, RHM DELIVERED SCHOLARSHIPS AND GRANTS TO OVER 600 MONTANA STUDENTS.Expenses $352,115 · grants $359,712
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
- 81-0393527
- 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
- 1983
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Education (B82)
- Assets (IRS master file)
- $280,386,190
- Income (IRS master file)
- $20,275,338
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $19,567,092 | $22,003,288 | $280,386,190 | IRS |
| 990 | June 2024 | $24,508,201 | $27,540,007 | $320,626,994 | XML |
| 990 | June 2023 | $23,987,922 | $26,030,923 | $381,209,209 | IRS |
| 990 | June 2022 | – | – | – | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990 | June 2019 | – | – | – | 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 81-0393527).
Questions about MONTANA HIGHER EDUCATION STUDENT ASSISTANCE CORPORATION
- What is the EIN of MONTANA HIGHER EDUCATION STUDENT ASSISTANCE CORPORATION?
- The employer identification number (EIN) of MONTANA HIGHER EDUCATION STUDENT ASSISTANCE CORPORATION is 81-0393527.
- Is MONTANA HIGHER EDUCATION STUDENT ASSISTANCE CORPORATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1983.
- Are donations to MONTANA HIGHER EDUCATION STUDENT ASSISTANCE CORPORATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does MONTANA HIGHER EDUCATION STUDENT 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 MONTANA HIGHER EDUCATION STUDENT ASSISTANCE CORPORATION 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 MONTANA HIGHER EDUCATION STUDENT ASSISTANCE CORPORATION 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 MONTANA HIGHER EDUCATION STUDENT ASSISTANCE CORPORATION?
- The 990 for the year ended June 30, 2025 names MICHAEL GREEN.
- Who are the officers and directors of MONTANA HIGHER EDUCATION STUDENT ASSISTANCE CORPORATION?
- The 990 for the year ended June 30, 2025 lists 12 people; 8 received compensation from the organization.
- How much revenue does MONTANA HIGHER EDUCATION STUDENT ASSISTANCE CORPORATION have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $19,567,092, expenses of $22,003,288 and total assets of $280,386,190 at year end.
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