MONTANA HIGHER EDUCATION STUDENT ASSISTANCE CORPORATION

EIN: 810393527 501(c)(3) Education

HELENA, MT

Total Revenue
$24,508,201
Total Expenses
$27,540,007
Total Assets
$320,626,994
Net Assets
$78,375,477
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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
1980
Legal Domicile
MT
Principal Officer
MICHAEL GREEN
Phone
4064957800
Tax Period
2023-07-01 to 2024-06-30

MONTANA HIGHER EDUCATION STUDENT ASSISTANCE CORPORATION, founded in 1980, is a mid-sized nonprofit in the Education sector that reported $24.5M in total revenue in fiscal year 2023. Expenses of $27.5M exceeded revenue, resulting in a 12% operating deficit.

Mission

DEDICATED TO HELPING MONTANA CITIZENS FINANCE AND STRATEGICALLY PURSUE 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 (2023)

Revenue Breakdown

Contributions & Grants $741,853
Program Service Revenue $22,722,884
Investment Income $1,043,464
Other Revenue $0
TOTAL REVENUE $24,508,201

Expense Breakdown

Grants Paid $521,781
Salaries & Benefits $14,400
Fundraising Expenses $0
Program Expenses $27,125,673
Other Expenses $27,003,826
TOTAL EXPENSES $27,540,007

Year-over-Year Comparison

2023 2022 Change
Revenue $24,508,201 $23,987,922 +0.0%
Expenses $27,540,007 $26,030,923 +0.1%
Net Income $-3,031,806 $-2,043,001 +0.5%
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

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Governance

Voting Members
8
Independent Members
8
Employees
N/A
Volunteers
62

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
$667,846
Total Directors
8
$18,000
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
KIMBERLY CUNNINGHAM DIR MHESAC, DIR-BOARD CHAIR SAF 1.00
Director
$1,800 $0 $3,600
TERRY COSGROVE DIR MHESAC, DIR SAF 1.00
Director
$1,800 $0 $3,600
MICHAEL GREEN DIR-CHAIR & OFF-PRES 3.00
Officer Director
$1,800 $0 $1,800
GEORGE S OLSEN DIR & OFF-SEC/TREAS 3.00
Officer Director
$1,800 $0 $1,800
SHANNON STOBER DIRECTOR - VICE CHAIR 1.00
Director
$1,800 $0 $1,800
BRIANNE ROGERS DIRECTOR 1.00
Director
$1,800 $0 $1,800
JOYCE DOMBROUSKI DIRECTOR 1.00
Director
$1,800 $0 $1,800
WENDY WIGERT DIRECTOR 1.00
Director
$1,800 $0 $1,800
SCOTT TODOROVICH CEO MHESAC, PRES/CEO SAF 1.00
Officer
$0 $29,379 $260,162
JOLENE SELBY CFO MHESAC, VP SAF 18.00
Officer
$0 $33,677 $227,845
KELLY CRESSWELL EXEC DIR MHESAC, VP SAF 41.00
Officer
$0 $36,080 $176,239
CRYSTINE MILLER OFFICER - VICE PRESIDENT 1.00
Officer
$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
2025 No data No data No data No data
2024 $24,508,201 $27,540,007 $320,626,994 $-3,031,806
2023 $23,987,922 $26,030,923 $381,209,209 $-2,043,001
2022 $15,047,614 $16,317,868 $454,297,151 $-1,270,254
2021 $16,450,082 $16,652,032 $535,782,585 $-201,950
2020 $24,210,727 $25,757,349 $593,255,692 $-1,546,622
2019 $31,953,405 $33,829,885 $666,466,179 $-1,876,480
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