Student Loan Guarantee Foundation Of Arkansas
- Assets
- $5.5m
- Revenue
- $1.3k
- Investments
- $5.2m
- Employees
- 17
- Location
- North Little Rock, AR
- Founding
- 09/1967
- Data as of
- 09/2021
- EIN
- 71-0394768
Organization Overview
Student Loan Guarantee Foundation Of Arkansas is located in North Little Rock, AR. The organization was established in 1967. According to its NTEE Classification (W60) the organization is classified as: Financial Institutions, under the broad grouping of Public & Societal Benefit and related organizations. As of 09/2021, Student Loan Guarantee Foundation Of Arkansas employed 17 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Student Loan Guarantee Foundation Of Arkansas is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 09/2021, Student Loan Guarantee Foundation Of Arkansas generated $1.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (58.0%) each year. All expenses for the organization totaled $442.3k during the year ending 09/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION SELECTED UNIVERSITIES IN ARKANSAS TO PARTICIPATE IN A PILOT PROGRAM TO FUND SCHOLARSHIPS TO STUDENTS WHO HAD PREVIOUSLY DROPPED OUT OF SCHOOL AND WERE IN NEED OF FINANCIAL AID TO COMPLETE THEIR COURSE OF STUDY. STUDENTS WERE SELECTED BY COMMITTEES FROM THEIR RESPECTIVE UNIVERSITIES, EACH OF WHOM WAS TO RECEIVE UP TO $5,000 PER SEMESTER IN ORDER TO COMPLETE THEIR DEGREE. GOING FORWARD, THE FOUNDATION INTENDS TO ENLARGE THE PILOT PROGRAM TO INCLUDE MORE SCHOOLS IN AN EFFORT TO DISTRIBUTE MORE SCHOLARSHIP FUNDS. DURING THE FISCAL YEAR ENDED 9/30/2021, THE PROGRAM EXPANDED FROM SIX PUBLIC UNIVERSITIES TO TEN UNIVERSITIES COMPOSED OF BOTH PUBLIC AND PRIVATE INSTITUTIONS. A TOTAL OF 24 SCHOLARSHIPS WERE FUNDED AS A RESULT OF THIS PROGRAM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ms Kimbery Elrod Executive Director | 40 | $118,924 | |
Mr Mark Ryan President | 1 | $4,050 | |
Dr Tom Bishop Secretary | 1 | $4,050 | |
Dr Samuel Howell Vice-President | 1 | $4,050 | |
Ms Susan Balest Director | 1 | $4,050 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $225 |
| Dividends & Interest | $1,040 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,265 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $135,123 |
| Other employee salaries and wages | $47,002 |
| Pension plans, employee benefits | $17,285 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $969 |
| Occupancy | $23,324 |
| Travel, conferences, and meetings | $4,669 |
| Printing and publications | $0 |
| Other expenses | $26,024 |
| Total operating and administrative expenses | $342,558 |
| Contributions, gifts, grants paid | $99,740 |
| Total expenses and disbursements | $442,298 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $100 |
| Savings and temporary cash investments | $293,753 |
| Net Accounts receivable | $5,000 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $9,679 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $5,221,828 |
| Net Land, buildings, and equipment | $1,936 |
| Other assets | $0 |
| Total assets | $5,532,296 |
| Accounts payable and accrued expenses | $28,582 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $28,582 |
Grants Awarded
Over the last fiscal year, Student Loan Guarantee Foundation Of Arkansas has awarded $99,740 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
Conway, AR PURPOSE: TO AWARD SCHOLARSHIPS OF UP TO $5,000 PER SEMESTER PER STUDENT IN THE FISCAL YEAR ENDED 9/30/2021. | $30,880 |
SOUTHERN ARKANSAS UNIVERSITY PURPOSE: TO AWARD SCHOLARSHIPS OF UP TO $5,000 PER SEMESTER PER STUDENT IN THE FISCAL YEAR ENDED 9/30/2021. | $30,000 |
Arkadelphia, AR PURPOSE: TO AWARD SCHOLARSHIPS OF UP TO $5,000 PER SEMESTER PER STUDENT IN THE FISCAL YEAR ENDED 9/30/2021. | $21,300 |
UNIVERSITY OF ARKANSAS PURPOSE: TO AWARD SCHOLARSHIPS OF UP TO $5,000 PER SEMESTER PER STUDENT IN THE FISCAL YEAR ENDED 9/30/2021. | $7,520 |
ARKANSAS STATE UNIVERSITY PURPOSE: TO AWARD SCHOLARSHIPS OF UP TO $5,000 PER SEMESTER PER STUDENT IN THE FISCAL YEAR ENDED 9/30/2021. | $5,040 |
UNIVERSITY OF ARKANSAS AT LITTLE ROCK PURPOSE: TO AWARD SCHOLARSHIPS OF UP TO $5,000 PER SEMESTER PER STUDENT IN THE FISCAL YEAR ENDED 9/30/2021. | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Eecu Fort Worth, TX | $3,346,818,050 | $132,703,955 |
Datcu Corinth, TX | $1,472,218,560 | $58,120,235 |
Educational Funding of the South Inc Franklin, TN | $0 | $32,440,997 |
Smart Financial Credit Union Houston, TX | $863,045,485 | $34,269,474 |
East Texas Professional Credit Longview, TX | $963,213,382 | $39,825,100 |
Texell Credit Union Temple, TX | $562,565,721 | $32,645,542 |
Capital Certified Development Corporation Austin, TX | $10,331,482 | $7,851,539 |
Mississippi Higher Education Assistance Corporation Jackson, MS | $167,450,530 | $7,686,362 |
Brazos Student Finance Corporation Waco, TX | $111,165,594 | $4,506,585 |
Trans Texas Southwest San Angelo, TX | $44,278,686 | $2,099,854 |
Tupelo Service Finance Inc Tupelo, MS | $0 | $1,135,587 |
Greater Kingsport Alliance For Development Inc Kingsport, TN | $2,425,970 | $1,438,393 |