Nonprofit · EIN 74-2129255
BRAZOS HIGHER EDUCATION SERVICE CORPORATION INC
Tax-exempt · WACO, TX 76712
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $33,774,034 | $8,934,501 | $24,839,533 | $318,997,073 | $10,386,703 | $308,610,370 |
| June 30, 2024 | 990 | $19,156,221 | $9,000,961 | $10,155,260 | $277,854,175 | $9,287,630 | $268,566,545 |
| June 30, 2023 | 990 | $16,305,011 | $8,053,886 | $8,251,125 | $212,610,560 | $10,209,963 | $202,400,597 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $452,065
- Program service revenue
- $22,779,042
- Investment income
- $10,524,171
- Net gain from sales of assets
- $9,387,625
- Other revenue
- $18,756
Expenses
- Grants and similar amounts paid
- $140,610
- Compensation of officers, directors and key employees
- $4,388,419
- Other salaries and wages
- $2,256,791
- Salaries, compensation and benefits (total)
- $7,590,772
- Professional fundraising fees
- $0
- Legal fees
- $149,109
- Accounting fees
- $140,280
- Occupancy
- $78,313
- Travel
- $53,681
- Depreciation
- $87,234
- Program services (functional)
- $7,691,863
- Management and general (functional)
- $1,242,638
Balance sheet and other
- Total assets, start of year
- $277,854,175
- Total assets, end of year
- $318,997,073
- Total liabilities, end of year
- $10,386,703
- Net assets, end of year
- $308,610,370
- Land, buildings and equipment
- $2,458,564
- Publicly traded securities
- $154,825,867
- Gross receipts
- $119,171,295
- Employees
- 30
- Volunteers
- 6
- Year formed
- 1980
- State of legal domicile
- TX
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Thomas Litle | President & CEO Trustee or director, Officer | 37.5 | $895,987 | $98,152 |
| Ricky Turman | EVP/COO/CFO Trustee or director, Officer | 37.5 | $659,544 | $101,455 |
| Kelli Uttech | EVP, General Counsel Officer | 37.5 | $459,985 | $83,927 |
| Andrew Ellis | VP, Administration & HR Officer | 37.5 | $307,699 | $80,931 |
| John M Wright | Director Structured Finance Highest-paid employee | 37.5 | $271,980 | $71,734 |
| Randall Larson | VP, Sales Officer | 37.5 | $263,448 | $74,174 |
| Tammy Harralson | Controller/VP Officer | 37.5 | $258,182 | $72,119 |
| Darrell Brooks | Treasurer Officer | 37.5 | $232,630 | $67,386 |
| Nan MacDonald | VP, Marketing Officer | 37.5 | $234,442 | $60,551 |
| Debra Urias | VP Student Lending Operations Key employee | 37.5 | $227,168 | $58,740 |
| Milicent Larson | Director of Scholarships Highest-paid employee | 2.5 | $192,103 | $58,733 |
| Jessica Fadal | Data Warehouse & Bus. Int. Mgr. Highest-paid employee | 37.5 | $149,233 | $40,154 |
| Christy Alleman | Information Systems Manager Highest-paid employee | 37.5 | $139,762 | $35,134 |
| Carol Thomas | Loan Administration Manager Highest-paid employee | 37.5 | $127,953 | $26,239 |
| Tiffany Jones | Exec. Corp. Secretary Officer | 37.5 | $119,395 | $32,504 |
6 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Dr Andy Popejoy | Director Trustee or director | 1 | $0 |
| Dr David Myers | Director Trustee or director | 1 | $0 |
| Dr Terry Maness | Director Trustee or director | 1 | $0 |
| Greta Watson | Director Trustee or director | 1 | $0 |
| Robert D Chambers | Director Trustee or director | 1 | $0 |
| Steven Bostick | Director Trustee or director | 1 | $0 |
990 for the year ended June 30, 2024: 24 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| THOMAS BEN LITLE | PRESIDENT/CEO Trustee or director, Officer | 29 | $749,347 | $79,508 |
| RICKY TURMAN | EVP/COO/CFO Trustee or director, Officer | 29 | $620,836 | $94,644 |
| SAMUEL REDDEN | SVP/CIO End: 08/23 Officer | 39 | $488,496 | $60,667 |
| KELLI UTTECH | EVP/GENERAL COUNSEL Trustee or director, Officer | 30 | $398,669 | $78,893 |
| ANDREW ELLIS | VP HUMAN RESOURCES Officer | 39 | $308,125 | $75,458 |
| John M Wright | Director Structured Finance Highest-paid employee | 40 | $256,724 | $72,425 |
| RANDALL LARSON | VP SALES Officer | 39 | $258,173 | $67,950 |
| Sarah MacCarthy | VP, Compliance End: 06/23 Highest-paid employee | 40 | $284,052 | $30,894 |
| TAMMY HARRALSON | VP/CONTROLLER Officer | 30 | $246,347 | $67,073 |
| NAN MACDONALD | VP MARKETING Officer | 39 | $220,035 | $67,213 |
| DARRELL BROOKS | TREASURER Officer | 30 | $219,241 | $62,199 |
| Debra Urias | VP Student Lending Operations Key employee | 40 | $217,015 | $54,746 |
| Milicent Larson | Executive Dir., Brazos Found. Highest-paid employee | 1 | $192,344 | $58,026 |
| Jessica Fadal | Data Warehouse & Bus. Intel. Manager Highest-paid employee | 40 | $147,477 | $30,477 |
| Christy Alleman | IS Manager Highest-paid employee | 40 | $131,013 | $31,945 |
| TIFFANY JONES | SECRETARY Officer | 29 | $102,795 | $29,339 |
| VICKY SMITH | ASSISTANT SECRETARY End: 08/23 Officer | 30 | $98,799 | $23,691 |
| David Myers | Director Trustee or director | 1 | $0 | $0 |
| DR ANDY POPEJOY | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DR TERRY MANESS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| GRETA WATSON | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JOHN PERRY | DIRECTOR End: 02/24 Trustee or director | 1 | $0 | $0 |
| ROBERT B CHAMBERS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| STEVEN BOSTICK | DIRECTOR Trustee or director | 1 | $0 | $0 |
990 for the year ended June 30, 2023: 25 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Thomas Ben Litle | PRESIDENT/CEO Trustee or director, Officer | 29 | $691,410 | $73,360 |
| Ricky Turman | EVP/COO/CFO Trustee or director, Officer | 29 | $632,670 | $75,998 |
| Kelli Uttech | EVP/GENERAL COUNSEL Officer | 30 | $403,310 | $70,102 |
| SAMUEL REDDEN | SVP/CIO Officer | 39 | $305,125 | $69,176 |
| ANDREW ELLIS | VP HUMAN RESOURCES Officer | 39 | $296,218 | $65,102 |
| RANDALL LARSON | VP SALES Officer | 39 | $245,823 | $58,370 |
| JOHN M WRIGHT | Structured Finance Director Highest-paid employee | 40 | $242,530 | $59,365 |
| Tammy Harralson | VP/CONTROLLER Officer | 30 | $241,428 | $57,555 |
| Darrell Brooks | Treasurer Officer | 30 | $217,277 | $53,520 |
| DEBRA URIAS | VP STUDENT LENDING OPERATIONS Key employee | 40 | $212,041 | $47,107 |
| Justin Green | Financial Services Director Highest-paid employee | 40 | $238,764 | $6,601 |
| SARAH MACCARTHY | VP, Compliance Highest-paid employee | 40 | $189,483 | $43,243 |
| MILICENT LARSON | EXECUTIVE DIR, BRAZOS FDN Highest-paid employee | 1 | $187,542 | $39,912 |
| Adele Williams | Director of Programming Highest-paid employee | 40 | $142,588 | $6,133 |
| Tiffany Jones | Secretary Officer | 29 | $89,013 | $20,110 |
| Vicky Smith | Assistant Secretary Officer | 30 | $76,959 | $27,422 |
| Nan MacDonald | VP Marketing Officer | 39 | $84,610 | $6,199 |
| Robert B Chambers | DIRECTOR Trustee or director | 1 | $0 | $0 |
| John Hatchel | DIRECTOR Trustee or director | 1 | $0 | $0 |
| dr terry maness | DIRECTOR Trustee or director | 1 | $0 | $0 |
| John Perry | DIRECTOR Trustee or director | 1 | $0 | $0 |
| Dr Joseph Velez | DIRECTOR End: 05/23 Trustee or director | 1 | $0 | $0 |
| Greta Watson | DIRECTOR Trustee or director | 1 | $0 | $0 |
| Steven Bostick | Director Trustee or director | 1 | $0 | $0 |
| Dr Andy Popejoy | Director Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 5609 CROSSLAKE PKWY, WACO, TX 76712-5500
- In care of
- % RICKY TURMAN EVP/COO/CFO
- Principal officer (990 for 2024)
- RICKY TURMAN, 5609 Crosslake Pkwy, Waco, TX 76712
- Signed the 990
- RICKY TURMAN, EVP/COO/CFO
- Phone
- (254) 753-0915
- Website
- WWW.STUDENTLOANS.COM
- Return prepared by
- Forvis Mazars LLP
Mission
BRAZOS HIGHER EDUCATION SERVICE CORPORATION, INC.'S MISSION IS TO MAKE EDUCATION A REALITY BY SUPPORTING PROGRAMS AND INITIATIVES TO FINANCE EDUCATIONAL OPPORTUNITIES.
Program accomplishments
- BRAZOS HIGHER EDUCATION SERVICE CORPORATION (BHESC) PROVIDES ADMINISTRATIVE AND MANAGEMENT SERVICES FOR AFFILIATED NON-PROFIT ENTITIES BY SERVING AS ADMINISTRATOR. THESE SERVICES INCLUDED ADMINISTERING STUDENT LOANS WITH OUTSTANDING PRINCIPAL IN EXCESS OF $1.2 BILLION UNDER THE FEDERAL FAMILY EDUCATION LOAN PROGRAM (FFELP), HEAL, TERI, AND VARIOUS OTHER ALTERNATIVE LOAN PROGRAMS.Expenses $7,691,863 · grants $140,610 · revenue $32,185,423
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 74-2129255
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (509(a)(2))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1982
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Education (B82Z)
- Assets (IRS master file)
- $318,997,073
- Income (IRS master file)
- $119,171,295
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $33,774,034 | $8,934,501 | $318,997,073 | XML |
| 990-T | June 2025 | – | – | – | IRS |
| 990 | June 2024 | $19,156,221 | $9,000,961 | $277,854,175 | IRS |
| 990-T | June 2024 | – | – | – | IRS |
| 990 | June 2023 | $16,305,011 | $8,053,886 | $212,610,560 | XML |
| 990-T | June 2023 | – | – | – | IRS |
| 990 | June 2022 | $12,631,577 | $7,608,789 | $152,724,525 | IRS |
| 990-T | June 2022 | – | – | – | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990-T | June 2021 | – | – | – | IRS |
| 990 | June 2020 | – | – | – | IRS |
| 990 | June 2019 | – | – | – | IRS |
| 990 | June 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 74-2129255).
Questions about BRAZOS HIGHER EDUCATION SERVICE CORPORATION INC
- What is the EIN of BRAZOS HIGHER EDUCATION SERVICE CORPORATION INC?
- The employer identification number (EIN) of BRAZOS HIGHER EDUCATION SERVICE CORPORATION INC is 74-2129255.
- Is BRAZOS HIGHER EDUCATION SERVICE CORPORATION INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1982.
- Are donations to BRAZOS HIGHER EDUCATION SERVICE CORPORATION INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does BRAZOS HIGHER EDUCATION SERVICE CORPORATION INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of BRAZOS HIGHER EDUCATION SERVICE CORPORATION INC due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did BRAZOS HIGHER EDUCATION SERVICE CORPORATION INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of BRAZOS HIGHER EDUCATION SERVICE CORPORATION INC?
- The 990 for the year ended June 30, 2025 names RICKY TURMAN.
- Who are the officers and directors of BRAZOS HIGHER EDUCATION SERVICE CORPORATION INC?
- The 990 for the year ended June 30, 2025 lists 21 people; 15 received compensation from the organization, the highest $895,987 (Thomas Litle, President & CEO).
- How much revenue does BRAZOS HIGHER EDUCATION SERVICE CORPORATION INC have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $33,774,034, expenses of $8,934,501 and total assets of $318,997,073 at year end.
Other nonprofits in WACO
- BAYLOR UNIVERSITY EIN 74-1159753 · last filed 990-N for 2024
- BRAZOS EDUCATION LOAN AUTHORITY INC EIN 20-3868073 · last filed 990 for 2025
- BRAZOS HIGHER EDUCATION AUTHORITY INC EIN 74-2099402 · last filed 990 for 2025
- EDUCATION SERVICE CENTER REGION XII OF TEXAS EIN 74-1586927 · last filed 990 for 2025
- VALOR PREPARATORY ACADEMY EIN 46-3834044 · last filed 990 for 2025
- EAST WACO INNOVATIVE SCHOOL DEVELOPMENT INC EIN 74-2798827 · last filed 990 for 2025
- THE TSTC FOUNDATION EIN 75-2892470 · last filed 990 for 2025
- LIVE OAK CLASSICAL SCHOOL INC EIN 77-0616274 · last filed 990 for 2025