NonprofitsNew Mexico Educational Assistance Foundation

Education

New Mexico Educational Assistance Foundation

ALBUQUERQUE, NM

Total revenue

$17.6M

Total expenses

$12.6M

Net assets

$111.1M

Grants received

$213K

1 grants

EIN

850291313

Tax year

2023

Mission

Promote the public welfare and prosperity of the people of new mexico by stimulating the availability of financial assistance for post-secondary education so as to give greater higher education opportunity.

Programs

3 programs

Student loan programs: provide administrative service for the new mexico student loan guarantee corporation, functioning as the guaranty agency under the guaranteed student loan program (federal family education loan program).

Expenses: $1.3M

Default ffelp collections: collecting on loans that were defaulted in the ffelp program. Counsel and work with borrowers to bring them back into good standing and rehabilitate their loans whenever possible.

Expenses: $460K

Fafsa completion: the foundation assisted students in completing fasfa applications and in collecting on ar and perkins accounts for schools.

Expenses: $352K

Financials

FY 2023

Revenue

Contributions & grants$91K
Program service revenue$16.4M
Investment income$1.2M
Other revenue
Total revenue$17.6M

Expenses

Grants paid
Salaries & benefits$4.8M
Fundraising
Other expenses$7.9M
Total expenses$12.6M
Total assets$243.4M
Net assets$111.1M

People

11 listed

NameRoleCompensation

BRAD ALLPASS

PRESIDENT & CEO

Board

$208K

30 hrs/wk

GRACE TACKMAN

VICE PRESIDENT ADMIN SERVICE

Board

$147K

30 hrs/wk

ESTEVAN MARTINEZ

ASST VICE PRESIDENT INFO TE

Board

$141K

30 hrs/wk

TRACY ROWE

ASST VICE PRESIDENT OF FINAN

Board

$116K

30 hrs/wk

KEVIN POWERS

VICE CHAIR

Board

2 hrs/wk

LAURA M MONTOYA

DIRECTOR

Board

2 hrs/wk

MARSHA MAJORS

DIRECTOR

Board

2 hrs/wk

ROSENDA MINELLA

SECRETARYTREASURER

Board

2 hrs/wk

ALEX HEUBECK

CHAIR

Board

2 hrs/wk

REGINALD STORMENT

GENERAL COUNSEL

Staff

$164K

30 hrs/wk

LOIS FORT

DIRECTOR OF OPERATIONS

Staff

$111K

30 hrs/wk

Independent contractors

YEAROUT ENERGY SERVICES LLC

CONSTRUCTION

$2.3M

DATAPRINT SERVICES

COMPUTER SOFTWARE

$151K

TTEC DIGITAL LLC

TELEPHONE SYSTEM

$104K

Grants received

Showing 1 of 1

FromAmountPurposeYear
$213K
FAFSA STUDENT SUPPORT
2024

Funded by

$213K from 1 funder · 1 grant · 2024

Educational Credit

$213K · 1 grant · 2024

Details

EIN850291313
NTEE codeB820
Subsection03
Ruling date1981-11
Formed1981
Employees59
Volunteers30
NEW MEXICO EDUCATIONAL ASSISTANCE FOUNDATION — Mission, Financials & Grants Received | Grantivo