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Acapita Education Finance Corporation

Learn about this cause: Is it Legit? Do I like the mission? What is the CEO's salary?

EIN: 742542435 ✦ Waco, TX ✦ Designated as a 501(c)(3)

Overview

What is Acapita Education Finance Corporation?

Acapita Education Finance Corporation is a secondary market based in Waco, Texas, that specializes in financing educational opportunities through various student loan programs. The organization supports initiatives under the Federal Family Education Loan Program (FFELP), HEAL, TERI, and alternative student loan schemes. They fund these loans through temporary financing and later sell them to external parties. Acapita Education Finance Corporation's mission is to make education accessible to a larger population by providing financial resources for educational pursuits.


Official website here: www.studentloans.com

Is Acapita Education Finance Corporation legitimate?

Acapita Education Finance Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Acapita Education Finance Corporation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.

Here are some key statistics you may want to consider:

Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0

For more financial information, click here


Official website here: www.studentloans.com

What is the mission statement of Acapita Education Finance Corporation?

Acapita Education Finance Corporation's mission is geared towards making education accessible by supporting various programs and initiatives to finance educational opportunities. As a secondary market of college student loans under the Federal Family Education Loan Program (FFELP), Acapita Education Finance Corporation plays a vital role in helping students realize their educational goals. Through its activities, the corporation sells student loans obtained through FFELP, HEAL, TERI, and other alternative student loan programs. These loans are funded through temporary financings. In essence, Acapita Education Finance Corporation is dedicated to making education a reality for numerous students by facilitating the financing of their educational pursuits.


Official website here: www.studentloans.com

Who is the CEO of Acapita Education Finance Corporation?

Ricky Turman is the President/Ceo of Acapita Education Finance Corporation. The CEO's salary of Acapita Education Finance Corporation is $0 and their total compensation is $775,095.


Official website here: www.studentloans.com

What is the revenue of Acapita Education Finance Corporation?

Acapita Education Finance Corporation's revenue in 2022 was $1,031,391,562.


Official website here: www.studentloans.com

Who are the executives of Acapita Education Finance Corporation and what are their salaries?

Here are 15 key members and their salaries (Acapita Education Finance Corporation's CEO's salary is $0 and their total compensation is $775,095):

    Thomas Ben Litle (President/Ceo)
  • Compensation: $0
  • Related: $707,064
  • Other: $68,031

    • Ricky Turman (Evp/Coo/Cfo)
  • Compensation: $0
  • Related: $593,678
  • Other: $71,273

    • Kelli Uttech (Svp/General Counsel)
  • Compensation: $0
  • Related: $341,729
  • Other: $63,567

    • Tammy Harralson (Controller/Vp)
  • Compensation: $0
  • Related: $234,378
  • Other: $57,610

    • Darrell Brooks (Treasurer)
  • Compensation: $0
  • Related: $186,941
  • Other: $46,110

    • Susan Davis (Secretary (End:2021))
  • Compensation: $0
  • Related: $205,523
  • Other: $20,232

    • Tiffany Jones (Secretary (Begin:2021))
  • Compensation: $0
  • Related: $84,031
  • Other: $18,574

    • Steve Bostick (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0

    • Claude Ervin (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0

    • Brent Helm (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0

    • Dr Terry Maness (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0

    • Sherrill Pogue (Director (End:2021))
  • Compensation: $0
  • Related: $0
  • Other: $0

    • Charles Reed (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0

    • Larry Smith (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0

    • Greta Watson (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0


  • Official website here: www.studentloans.com

    Where can I find the form 990 for Acapita Education Finance Corporation?

    The Acapita Education Finance Corporation’s most recent form 990 was submitted in 2022 and can be accessed here


    Official website here: www.studentloans.com

    Learn more at the official website: www.studentloans.com

    Mission Statement of Acapita Education Finance Corporation

    Acapita Education Finance Corporation, or AEFC, is a corporation dedicated to making education a reality by supporting various programs and initiatives to finance educational opportunities. Under the Federal Family Education Loan Program (FFELP) and alternative student loan programs like HEAL, TERI, and others, AEFC holds student loans. These loans are funded through temporary financings, and during the fiscal year, the company sells these loans to outside parties. In simpler terms, Acapita Education Finance Corporation plays a crucial role in providing educational financing, enabling students to pursue their academic goals.

    Impact

    This information is meant to be a general summary of Acapita Education Finance Corporation. Please take the time to review official sources before making any decisions based upon the content provided here.




    Thursday, August 15, 2024

    Acapita Education Finance Corporation's impact lies in its mission to make education a reality by supporting programs and initiatives to finance educational opportunities. By holding and facilitating student loans under various federal and alternative student loan programs, Acapita Education Finance Corporation played a crucial role in helping students access the necessary financial resources to pursue higher education. This support contributed to enabling countless individuals to further their education and, ultimately, enhance their future prospects and opportunities.





    Financials

    This financial information is from Propublica.

    Revenue
    Expenses
    Efficiency

    Other financial information:

    This information is from the most recently submitted tax form from this organization, which was in 2022.

  • Investment Income: $-16,979,776
  • Program Service Revenue: $864,330
  • Gross Receipts: $1,048,371,504

    • Assets and Liabilities:
  • Total Assets: $0
  • Total Liabilities: $0
  • Net Assets: $0
  • Programs

    Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.

    Interest Received on Student Loans

    Revenue

    $310,622

    Late Charges

    Revenue

    $3,440

    BAD DEBT RECOVERY

    Revenue

    $550,268

    Organization Details

    Founding Year

    1989

    Principal Officer

    Ricky Turman

    Main Address

    5609 Crosslake Pkwy, Waco, TX, 76712

    NTEE Category

    Code: W60 - Public benefit

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