HIGHER EDUCATION SERVICING CORPORATION (EIN 751661098) - 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

1978

Legal Domicile

Principal Officer

PHILLIP WAMBSGANSS

Phone

8172659158

Tax Period

2024-09-01 to 2025-08-31

HIGHER EDUCATION SERVICING CORPORATION, founded in 1978, is a mid-sized nonprofit in the Education sector that reported $36.0M in total revenue in fiscal year 2024. Revenue surged 129% from the prior year, signaling strong growth momentum. The organization ran a surplus of $22.3M, a strong 62% operating margin.

Mission

HESC FOSTERS QUALITY SERVICING FOR STUDENT LOANS, ENCOURAGES AND PROMOTES STUDENT ENROLLMENT AT POST-SECONDARY LEVEL INSTITUTIONS.

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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 (2024)

Revenue Breakdown

Contributions & Grants $20,186,974

Program Service Revenue $12,533,741

Investment Income $1,188,870

Other Revenue $2,137,984

TOTAL REVENUE $36,047,569

Expense Breakdown

Grants Paid $175,500

Salaries & Benefits $9,149,728

Fundraising Expenses $0

Program Expenses $11,436,860

Other Expenses $4,439,807

TOTAL EXPENSES $13,765,035

Year-over-Year Comparison

	2024	2023	Change
Revenue	$36,047,569	$15,734,397	+1.3%
Expenses	$13,765,035	$11,430,757	+0.2%
Net Income	$22,282,534	$4,303,640	+4.2%

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

Volunteers

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

$661,343

Total Directors

$10,200

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PHILLIP WAMBSGANSS	President	40.00	Officer	$395,283	$44,502	$439,785
ROBERT LAMBERSON	EVP - IT & SYSTEM DEVELOPMENT	40.00		$299,586	$40,291	$339,877
KEVIN MONTGOMERY	EVP - OPERATIONS	40.00		$202,114	$30,114	$232,228
DENISE DUNN-TRAKSHEL	VP OF FINANCE	40.00	Officer	$189,820	$28,138	$217,958
VINCENT POLITE	SERV. SYSTEM MGR.	40.00		$159,526	$17,429	$176,955
COURTNEY CHURCHWELL	DIR. OF ACCOUNTING	40.00		$141,790	$23,704	$165,494
ANDREW SWAFFAR	PROGRAMMER	40.00		$139,863	$23,790	$163,653
BRADFORD BYNUM	ORIGIN. SYS. MGR.	40.00		$143,427	$16,852	$160,279
PHIL KINMAN	DIR OF COMPLIANCE	40.00		$136,152	$22,023	$158,175
KENNETH D WOODS	President	1.00	Officer Director	$1,800	$0	$1,800
STEPHEN VINCENT	Director	1.00	Director	$1,800	$0	$1,800
JUDITH SCHNEIDER	SEC/TREAS	1.00	Officer Director	$1,800	$0	$1,800
JOHN HIBBS	Director	1.00	Director	$1,800	$0	$1,800
STEPHANIE BUDUHAN	Director	1.00	Director	$1,800	$0	$1,800
LAURIE BIANCO	Director	1.00	Director	$1,200	$0	$1,200

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
2025	$36,047,569	$13,765,035	$76,412,285	$22,282,534
2024	$15,734,397	$11,430,757	$52,194,254	$4,303,640
2023	$11,775,166	$9,099,664	$46,995,693	$2,675,502
2022	$11,853,938	$7,670,792	$44,544,807	$4,183,146
2021	$10,554,218	$7,155,642	$40,965,852	$3,398,576
2020	$9,346,626	$6,621,694	$41,096,354	$2,724,932
2019	$9,715,326	$6,714,812	$37,520,005	$3,000,514
2018	$10,119,969	$6,530,170	$31,655,966	$3,589,799

HIGHER EDUCATION SERVICING CORPORATION