Overview
What is New Mexico Educational Assistance Foundation?
The New Mexico Educational Assistance Foundation is a nonprofit organization headquartered in Albuquerque, New Mexico. With a team of 74 employees, their primary mission is to stimulate the availability of financial assistance for post-secondary education in New Mexico, thereby enhancing greater higher education opportunities for the people of the state. They conduct this mission through student loan programs, which involve the origination, purchase, and servicing of student loans. The cost of interest on the debt used to fund these loans is included in the program service expense amounts. As of June 30, 2022, there were 45,779 outstanding loans under their management.
Official website here: www.nmeaf.org
Is New Mexico Educational Assistance Foundation legitimate?
New Mexico Educational Assistance Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. New Mexico Educational Assistance Foundation 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: $899,101
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.nmeaf.org
What is the mission statement of New Mexico Educational Assistance Foundation?
The New Mexico Educational Assistance Foundation works towards enhancing the public welfare and prosperity of New Mexico's population by expanding the financial aid options for post-secondary education. By stimulating the availability of financial assistance, they aim to broaden higher education opportunities for individuals in the state. The foundation's activities encompass student loan programs, where they originate, purchase, and service loans, incurring the cost of interest to fund these loans. As of June 30, 2022, there were 45,779 outstanding loans under their management.
Official website here: www.nmeaf.org
Who is the CEO of New Mexico Educational Assistance Foundation?
Brad Allpass is the President & Ceo of New Mexico Educational Assistance Foundation. The CEO's salary of New Mexico Educational Assistance Foundation is $192,076 and their total compensation is $207,112.
Official website here: www.nmeaf.org
What is the revenue of New Mexico Educational Assistance Foundation?
New Mexico Educational Assistance Foundation's revenue in 2022 was $12,323,094.
Official website here: www.nmeaf.org
Who are the executives of New Mexico Educational Assistance Foundation and what are their salaries?
The average compensation at New Mexico Educational Assistance Foundation during 2022 was $12,150. There are 74 employees and 5 volunteers at New Mexico Educational Assistance Foundation.
Here are 12 key members and their salaries (New Mexico Educational Assistance Foundation's CEO's salary is $192,076 and their total compensation is $207,112):
- Brad Allpass (President & Ceo) [Trustee/Director]
- Reginald Storment (General Counsel)
- Grace Tackman (Vice President Admin Service)
- Estevan Martinez (Asst Vice President Info Te)
- Lois Fort (Director Of Operations)
- Tracy Rowe (Asst Vice President Of Finan)
- Andrew Jacobson (Director)
- Pauline Garcia (Director)
- Alex Heubeck (Director)
- Dan Salzwedel (Chair) [Trustee/Director]
- Julie Filatoff (Secretarytreasurer) [Trustee/Director]
- Gavin Gillette (Vice Chair) [Trustee/Director]
Official website here: www.nmeaf.org
Where can I find the form 990 for New Mexico Educational Assistance Foundation?
The New Mexico Educational Assistance Foundation’s most recent form 990 was submitted in 2022 and can be accessed here
Official website here: www.nmeaf.org
Learn more at the official website: www.nmeaf.org
Mission Statement of New Mexico Educational Assistance Foundation
The New Mexico Educational Assistance Foundation, a renowned nonprofit organization, is dedicated to enhancing the public welfare and prosperity of the people of New Mexico. By stimulating the availability of financial assistance for post-secondary education, this foundation broadens the scope of higher education opportunities for individuals in the state.
The New Mexico Educational Assistance Foundation carries out its mission through student loan programs. This involves the origination, purchase, and service of student loans. By issuing debt to fund these loans, the organization incurs program service expenses, which include the cost of interest. As of June 30, 2022, the number of outstanding loans under the foundation's stewardship amounted to 45,779.
In essence, the New Mexico Educational Assistance Foundation serves as a crucial financial partner for students seeking higher education. By providing access to student loans, it empowers them to invest in their future and pursue academic and professional growth. The organization's unwavering commitment to higher education accessibility makes a significant difference in the lives of countless New Mexicans.
Impact
This information is meant to be a general summary of New Mexico Educational Assistance Foundation. Please take the time to review official sources before making any decisions based upon the content provided here.
Thursday, August 15, 2024
New Mexico Educational Assistance Foundation's impact is significant in promoting the public welfare and prosperity of the people of New Mexico by increasing access to financial assistance for post-secondary education. Through their student loan programs, they have originated, purchased, and serviced a substantial number of student loans, totaling 45,779 outstanding loans as of June 30, 2022. By providing these opportunities for higher education funding, they are actively contributing to the educational advancement and success of individuals in New Mexico, ultimately helping to create a more educated and skilled workforce for the state.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Assets and Liabilities:
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
STUDENT LOAN INTEREST
Revenue
$14,384,466
LATE AND LEGAL FEES
Revenue
$56,358
SERVICE FEES
Revenue
$1,568,782
OTHER REVENUE
Revenue
$1,106,882
Organization Details
Founding Year
1981
Principal Officer
Brad Allpass
Main Address
PO BOX 27020, ALBUQUERQUE, NM, 871257020
Website
www.nmeaf.org
NTEE Category
Code: B820 - Education
If you are a representative of New Mexico Educational Assistance Foundation and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.