Acapita Education Finance Corporation

EIN: 742542435 501(c)(3)

Waco, TX

Total Revenue
$1,031,391,562
Total Expenses
$208,840
Total Assets
N/A
Net Assets
N/A
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1989
Legal Domicile
TX
Principal Officer
RICKY TURMAN
Phone
2547530915
Tax Period
2021-07-01 to 2022-04-30

Acapita Education Finance Corporation, founded in 1989, is a large national nonprofit that reported $1.0B in total revenue in fiscal year 2021. Revenue surged 2599% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.0B, a strong 100% operating margin.

Mission

ACAPITA EDUCATION FINANCE CORPORATION (AEFC) IS A SECONDARY MARKET OF COLLEGE STUDENT LOANS UNDER THE FEDERAL FAMILY EDUCATION LOAN PROGRAM (FFELP). AEFC'S MISSION IS TO MAKE EDUCATION A REALITY BY SUPPORTING PROGRAMS AND INITIATIVES TO FINANCE EDUCATIONAL OPPORTUNITIES.

Program Service Accomplishments

Program 1
Expenses: $208,840 Revenue: $1,031,391,396

AEFC HELD STUDENT LOANS UNDER THE TITLE IV FEDERAL FAMILY EDUCATION LOAN PROGRAM (FFELP), HEAL, TERI AND OTHER ALTERNATIVE STUDENT LOAN PROGRAMS. THESE LOANS WERE FUNDED THROUGH TEMPORARY FINANCINGS...

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AEFC HELD STUDENT LOANS UNDER THE TITLE IV FEDERAL FAMILY EDUCATION LOAN PROGRAM (FFELP), HEAL, TERI AND OTHER ALTERNATIVE STUDENT LOAN PROGRAMS. THESE LOANS WERE FUNDED THROUGH TEMPORARY FINANCINGS. DURING THE FISCAL YEAR THE COMPANY SOLD THESE LOANS TO OUTSIDE PARTIES.

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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 (2021)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $864,330
Investment Income $-16,979,776
Other Revenue $1,047,507,008
TOTAL REVENUE $1,031,391,562

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $208,840
Other Expenses $208,840
TOTAL EXPENSES $208,840

Year-over-Year Comparison

2021 2020 Change
Revenue $1,031,391,562 $38,212,450 +26.0%
Expenses $208,840 $48,758,124 -1.0%
Net Income $1,031,182,722 $-10,545,674 -98.8%
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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Governance

Voting Members
7
Independent Members
7
Employees
N/A
Volunteers
8

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
$2,472,986
Total Directors
8
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
THOMAS BEN LITLE PRESIDENT/CEO 1.0
Officer
$0 $68,031 $775,095
RICKY TURMAN EVP/COO/CFO 1.0
Officer
$0 $71,273 $664,951
KELLI UTTECH SVP/GENERAL COUNSEL 1.0
Officer
$0 $63,567 $405,296
TAMMY HARRALSON CONTROLLER/VP 1.0
Officer
$0 $57,610 $291,988
DARRELL BROOKS TREASURER 1.0
Officer
$0 $46,110 $233,051
SUSAN DAVIS SECRETARY (END:2021) 1.0
$0 $20,232 $225,755
TIFFANY JONES SECRETARY (BEGIN:2021) 1.0
Officer
$0 $18,574 $102,605
STEVE BOSTICK DIRECTOR 1.0
Director
$0 $0 $0
CLAUDE ERVIN DIRECTOR 1.0
Director
$0 $0 $0
BRENT HELM DIRECTOR 1.0
Director
$0 $0 $0
DR TERRY MANESS DIRECTOR 1.0
Director
$0 $0 $0
SHERRILL POGUE DIRECTOR (END:2021) 1.0
Director
$0 $0 $0
CHARLES REED DIRECTOR 1.0
Director
$0 $0 $0
LARRY SMITH DIRECTOR 1.0
Director
$0 $0 $0
GRETA WATSON DIRECTOR 1.0
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
2022 $1,031,391,562 $208,840 No data $1,031,182,722
2021 $38,212,450 $48,758,124 $191,939,866 $-10,545,674
2020 $28,860,136 $68,874,137 $862,372,254 $-40,014,001
2019 $28,517,098 $88,135,044 $987,993,221 $-59,617,946
2018 $52,828,209 $89,055,757 $1,145,280,447 $-36,227,548
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