Brazos Education Funding Corporation Inc

EIN: 203870176 501(c)(3)

Waco, TX

Total Revenue
$4,985,651
Total Expenses
$3,763,300
Total Assets
$90,028,275
Net Assets
$4,900,622
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2005
Legal Domicile
TX
Principal Officer
RICKY TURMAN
Phone
2547530915
Tax Period
2017-07-01 to 2018-06-30

Brazos Education Funding Corporation Inc, founded in 2005, is a community nonprofit that reported $5.0M in total revenue in fiscal year 2017. Revenue decreased 9% compared to the prior year. The organization ran a surplus of $1.2M, a strong 25% operating margin.

Mission

BRAZOS EDUCATION FUNDING Corporation, INC.'S MISSION IS TO MAKE EDUCATION A REALITY BY supporting pROGRAMS AND INITIATIVES TO FINANCE EDUCATIONAL OPPORTUNITies.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2017)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $4,955,227
Investment Income $25,237
Other Revenue $5,187
TOTAL REVENUE $4,985,651

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $3,763,300
Other Expenses $3,763,300
TOTAL EXPENSES $3,763,300

Year-over-Year Comparison

2017 2016 Change
Revenue $4,985,651 $5,468,313 -0.1%
Expenses $3,763,300 $3,365,170 +0.1%
Net Income $1,222,351 $2,103,143 -0.4%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

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Financial Distress Indicator

Liquidity & Cash Position

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Governance

Voting Members
7
Independent Members
7
Employees
N/A
Volunteers
7

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
6
$2,660,451
Total Directors
8
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Mrs Jane Allen Director 1.0
Director
$0 $0 $0
Bob Chambers Chairman 1.0
Director
$0 $0 $0
Dr Charles E Madden Director 1.0
Director
$0 $0 $0
Larry Smith Director 1.0
Director
$0 $0 $0
Dr Terry Maness Director 1.0
Director
$0 $0 $0
Mrs Joyce Packard Director 1.0
Director
$0 $0 $0
Wilton Lanning Vice Chairman 1.0
Director
$0 $0 $0
Clement Milam Director 1.0
Director
$0 $0 $0
Tammy Harralson Controller 1.0
Officer
$0 $43,836 $239,835
Murray Watson President 1.0
Officer
$0 $60,121 $1,140,869
Thomas Ben Litle EVP/COO 1.0
Officer
$0 $59,454 $486,834
Ricky Turman CFO/Treasurer 1.0
Officer
$0 $74,200 $491,616
Susan Davis Secretary 1.0
Officer
$0 $26,568 $112,971
Darrell Brooks Assistant Treasurer 1.0
Officer
$0 $44,561 $188,326
Kelli Villarrial VP, Assoc. Gen. Counsel 1.0
$0 $51,147 $334,142
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2018 $4,985,651 $3,763,300 $90,028,275 $1,222,351
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