TEXAS GUARANTEED STUDENT LOAN CORPORATION (EIN 742094204) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1979

Legal Domicile

Principal Officer

DAVID S SCHWANKE CPA

Phone

5122195700

Tax Period

2023-10-01 to 2024-09-30

TEXAS GUARANTEED STUDENT LOAN CORPORATION, founded in 1979, is a mid-sized nonprofit in the Public & Societal Benefit sector that reported $98.5M in total revenue in fiscal year 2023. Revenue surged 53% from the prior year, signaling strong growth momentum. The organization ran a surplus of $55.7M, a strong 57% operating margin.

Mission

TO DEVELOP AND ADVANCE INITIATIVES THAT GROW INDIVIDUAL ECONOMIC MOBILITY AND EXPAND COMMUNITY PROSPERITY.

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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%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $82,939,983

Program Service Revenue $1,854,813

Investment Income $13,714,594

Other Revenue $0

TOTAL REVENUE $98,509,390

Expense Breakdown

Grants Paid $10,060,000

Salaries & Benefits $24,018,638

Fundraising Expenses $0

Program Expenses $27,986,603

Other Expenses $8,717,004

TOTAL EXPENSES $42,795,642

Year-over-Year Comparison

	2023	2022	Change
Revenue	$98,509,390	$64,584,806	+0.5%
Expenses	$42,795,642	$38,628,600	+0.1%
Net Income	$55,713,748	$25,956,206	+1.1%

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

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

326

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

$1,409,719

Total Directors

$358,210

Key Employees

$2,270,165

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ESCUDERO EDWARD	BOARD MEMBER	4.00	Director	$45,169	$0	$45,169
RHODES RICHARD	BOARD MEMBER	4.00	Director	$58,096	$0	$58,096
BATTS YVONNE	BOARD MEMBER	4.00	Director	$45,169	$0	$45,169
ANDARZA IVAN	BOARD MEMBER	4.00	Director	$38,731	$0	$38,731
WILSON WELCOME JR	BOARD MEMBER	4.00	Director	$38,731	$0	$38,731
VERDE DORA ANN	BOARD MEMBER	4.00	Director	$45,169	$0	$45,169
JOHNSON RENARD	BOARD MEMBER	4.00	Director	$48,414	$0	$48,414
MORONEY DENNIS	BOARD MEMBER	4.00	Director	$38,731	$0	$38,731
CHROMY DEBRA J	PRESIDENT/CEO	40.00	Officer	$642,581	$61,526	$704,107
SCHWANKE DAVID SCOTT	CHIEF FINANCIAL OFFICER	40.00	Officer	$378,507	$78,139	$456,646
DICKENSON GREGORY H	GENERAL COUNSEL	40.00	Officer	$203,343	$45,623	$248,966
FOURNIER TIMOTHY J	CHIEF OPERATING OFFICER	40.00	Key Emp	$574,975	$65,555	$640,530
ASHTON BRYAN M	CHIEF STRATEGY AND GROWTH OFFICER	40.00	Key Emp	$335,559	$54,669	$390,228
HIGH SUSAN G	VP, OPERATIONS	40.00	Key Emp	$256,612	$66,547	$323,159
HACKLEMAN LINDA S	VP, HUMAN RESOURCES	40.00	Key Emp	$250,199	$63,275	$313,474
ZIMMERMAN JAMES E	VP, INFORMATION TECHNOLOGY	40.00	Key Emp	$289,875	$58,974	$348,849
PADAKI CHANDRIKA MURALI	INTERIM VP, INFORMATION TECHNOLOGY	40.00	Key Emp	$206,173	$47,752	$253,925
SWEENEY JASON M	DIRECTOR - SALES AND MARKETING	40.00	Highest	$247,636	$46,697	$294,333
ASHER RHONDA A	CONTROLLER	40.00	Highest	$203,905	$51,689	$255,594
WEBSTER JEFFREY JAMES	DIRECTOR, RESEARCH	40.00	Highest	$204,558	$54,642	$259,200
RAMBIKUR SARA T	DIRECTOR, CORPORATE GOVERNANCE AND COMPLIANCE	40.00	Highest	$198,489	$34,264	$232,753
SMITH STEVEN RAY	DIRECTOR - HIGHER EDUCATION SERVICES	40.00	Highest	$195,550	$44,565	$240,115

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	$98,509,390	$42,795,642	$572,736,931	$55,713,748
2023	$64,584,806	$38,628,600	$486,855,414	$25,956,206
2022	$75,038,315	$212,423,732	$494,410,449	$-137,385,417
2021	$132,060,049	$143,871,157	$787,960,851	$-11,811,108
2020	$81,205,544	$49,063,662	$834,850,759	$32,141,882
2019	$105,235,381	$47,045,760	$781,073,412	$58,189,621
2018	$107,711,297	$52,180,427	$697,614,088	$55,530,870

TEXAS GUARANTEED STUDENT LOAN CORPORATION