PANHANDLE-PLAINS HIGHER EDUCATION FOUNDATION

EIN: 237025386 501(c)(3) Education

CANYON, TX

Total Revenue
$8,759,275
Total Expenses
$7,046,781
Total Assets
$174,847,285
Net Assets
$174,578,324
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Financial Trends

Organization Details

Formation Year
1979
Legal Domicile
TX
Principal Officer
JIMMY PARKER
Phone
8063244100
Tax Period
2024-01-01 to 2024-12-31

PANHANDLE-PLAINS HIGHER EDUCATION FOUNDATION, founded in 1979, is a community nonprofit in the Education sector that reported $8.8M in total revenue in fiscal year 2024. Revenue surged 42% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.7M, a strong 20% operating margin.

Mission

THE FOUNDATION'S PRIMARY PURPOSE IS TO PROVIDE SCHOLARSHIPS TO QUALIFIED INDIVIDUALS FOR ELIGIBLE EDUCATIONAL EXPENSES CONSISTING OF TUITION AND FEES, BOOKS AND SUPPLIES, ROOM AND BOARD AND INCIDENTAL EXPENSES RELATED TO ATTENDANCE AT AN ACCREDITED EDUCATIONAL INSTITUTION IN THE STATE OF TEXAS OFFERING AN ACADEMIC DEGREE PROGRAM OF AT LEAST TWO YEARS SCHOOL ATTENDANCE.

Program Service Accomplishments

Program 1
Expenses: $4,259,427

THE FOUNDATION'S PRIMARY PURPOSE IS TO PROVIDE SCHOLARSHIPS TO QUALIFIED INDIVIDUALS FOR ELIGIBLE EDUCATIONAL EXPENSES CONSISTING OF TUITION AND FEES, BOOKS AND SUPPLIES, ROOM AND BOARD AND...

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THE FOUNDATION'S PRIMARY PURPOSE IS TO PROVIDE SCHOLARSHIPS TO QUALIFIED INDIVIDUALS FOR ELIGIBLE EDUCATIONAL EXPENSES CONSISTING OF TUITION AND FEES, BOOKS AND SUPPLIES, ROOM AND BOARD AND INCIDENTAL EXPENSES RELATED TO ATTENDANCE AT AN ACCREDITED EDUCATIONAL INSTITUTION IN THE STATE OF TEXAS OFFERING AN ACADEMIC DEGREE PROGRAM OF AT LEAST TWO YEARS' SCHOOL ATTENDANCE.

Program 2
Expenses: $80,287 Revenue: $28,160

THE FOUNDATION PROVIDES SERVICES TO PUBLIC AND NON-PROFIT INSTITUTIONS OF HIGHER EDUCATION, INCLUDING LOAN BILLING, ANALYSIS OF STUDENT LOAN DEFAULT RATES AND PROVIDING STATE MANDATED STUDENT LOAN...

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THE FOUNDATION PROVIDES SERVICES TO PUBLIC AND NON-PROFIT INSTITUTIONS OF HIGHER EDUCATION, INCLUDING LOAN BILLING, ANALYSIS OF STUDENT LOAN DEFAULT RATES AND PROVIDING STATE MANDATED STUDENT LOAN DEBT DISCLOSURE NOTICES TO STUDENTS CONCERNING THEIR OUTSTANDING FEDERAL AND/OR STATE STUDENT LOAN DEBT.

Program 3
Expenses: $85,547

THE FOUNDATION PROMOTES EDUCATIONAL OPPORTUNITIES AND EDUCATIONAL ASSISTANCE FOR RESIDENTS IN THE STATE OF TEXAS. EDUCATIONAL OPPORTUNITIES CONSISTS PRIMARILY OF PROVIDING OUTREACH TO STUDENTS AND...

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THE FOUNDATION PROMOTES EDUCATIONAL OPPORTUNITIES AND EDUCATIONAL ASSISTANCE FOR RESIDENTS IN THE STATE OF TEXAS. EDUCATIONAL OPPORTUNITIES CONSISTS PRIMARILY OF PROVIDING OUTREACH TO STUDENTS AND PARENTS CONCERNING FINANCIAL AID OPPORTUNITIES TO ASSIST WITH THE COST OF ATTENDING COLLEGE. EDUCATIONAL ASSISTANCE CONSISTS PRIMARILY OF PROVIDING INFORMATION TO STUDENTS AND PARENTS ABOUT FINANCIAL AID OPPORTUNITIES THAT MAY BE AVAILABLE AT THE FEDERAL OR STATE LEVEL, HOW AND WHEN TO APPLY, AND ASSISTANCE IN COMPLETING THE FREE APPLICATION FOR FEDERAL STUDENT AID (FAFSA). THE FOUNDATION ALSO PROVIDES LOAN BORROWERS ASSISTANCE WITH REPAYMENT OPTIONS THAT MAY BE AVAILABLE TO THEM TO MITIGATE DELINQUENCIES/DEFAULTS.

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

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $28,160
Investment Income $8,731,115
Other Revenue $0
TOTAL REVENUE $8,759,275

Expense Breakdown

Grants Paid $3,861,842
Salaries & Benefits $1,717,842
Fundraising Expenses $0
Program Expenses $4,425,261
Other Expenses $1,467,097
TOTAL EXPENSES $7,046,781

Year-over-Year Comparison

2024 2023 Change
Revenue $8,759,275 $6,170,024 +0.4%
Expenses $7,046,781 $6,217,491 +0.1%
Net Income $1,712,494 $-47,467 -37.1%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
7
Independent Members
5
Employees
12
Volunteers
N/A

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
5
$463,082
Total Directors
7
$463,082
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JIMMY PARKER PRESIDENT/CE 40.00
Officer Director
$241,671 $34,351 $276,022
ZACH BELL CFO 40.00
Officer Director
$153,221 $33,839 $187,060
RITA CRADDOCK BOARD CHAIR 2.00
Officer Director
$0 $0 $0
TAMMY ROARK VICE CHAIR 2.00
Officer Director
$0 $0 $0
LYNDA TINSLEY BOARD SECRET 2.00
Officer Director
$0 $0 $0
MICHAEL P RYAN DIRECTOR 2.00
Director
$0 $0 $0
JAN BENTON DIRECTOR 2.00
Director
$0 $0 $0
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
2024 $8,759,275 $7,046,781 $174,847,285 $1,712,494
2023 $6,170,024 $6,217,491 $166,113,977 $-47,467
2022 $4,976,997 $5,135,823 $153,414,797 $-158,826
2021 $13,006,465 $3,910,137 $182,464,704 $9,096,328
2019 $37,843,785 $36,164,523 $532,567,370 $1,679,262
2018 $43,245,344 $40,672,050 $861,859,204 $2,573,294
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