Program areas at Montana Higher Education Student Assistance Corporation
Acquisition and servicing of guaranteed Student loans as a secondary Student loan market for the federal family Education loan program (ffelp). Benefits provided to borrowers through rebate, incentive, and rate reduction programs totaled $280 thousand for 4,488 borrowers in fiscal year 2024. $55 million in benefits have been provided to borrowers since inception of borrower benefit programs in 1996. Since inception, mhesac has provided more than $3.7 billion in Student loans to over 241,000 borrowers.
Rhm outreach staff served over 30,000 Montana students through college and career outreach, scholarship workshops, services for youth in foster care, dual enrollment and career fairs.
Rhm helps high school students with career and postsecondary exploration, provides financial and in-kind support across the state, sponsors career and technical Education programs, and leads the Montana work-based learning collaborative.
In fiscal year 2024, rhm delivered scholarships and grants to 667 Montana students.
Grants made by Montana Higher Education Student Assistance Corporation
| Grantee | Grant description | Grant year | Amount |
|---|
| Montana FFA Foundation | Sponsor State Convention and Fusion Career Summit | 2024-06 | $10,000 |
Who funds Montana Higher Education Student Assistance Corporation
Grants from foundations and other nonprofits
| Grantmaker | Grantmaker tax period | Description | Amount |
|---|
| New America | 2023-12 | Support Grantee's Participation in the Partnership To Advance Youth Apprenticeship (Paya) Initiative | $150,000 |
| The Aspen Institute | 2023-12 | Belonging, Meaning, Wellbeing, and Purpose (BMWP) Award | $25,000 |
| Enterprise Holdings Foundation | 2023-07 | Program Support | $5,000 |
Financials for Montana Higher Education Student Assistance Corporation
| Revenues | FYE 06/2024 | FYE 06/2023 | % Change |
|---|
| Total grants, contributions, etc. | $741,853 | $689,370 | 7.6% |
| Program services | $22,722,884 | $22,556,943 | 0.7% |
| Investment income and dividends | $1,117,777 | $726,821 | 53.8% |
| Tax-exempt bond proceeds | $0 | $0 | - |
| Royalty revenue | $0 | $0 | - |
| Net rental income | $0 | $0 | - |
| Net gain from sale of non-inventory assets | $-74,313 | $14,788 | -602.5% |
| Net income from fundraising events | $0 | $0 | - |
| Net income from gaming activities | $0 | $0 | - |
| Net income from sales of inventory | $0 | $0 | - |
| Miscellaneous revenues | $0 | $0 | - |
| Total revenues | $24,508,201 | $23,987,922 | 2.2% |
Organizations like Montana Higher Education Student Assistance Corporation
| Organization | Type | Location | Revenue |
|---|
| Mississippi Higher Education Assistance Corporation | 501(c)(3) | Jackson, MS | $9,781,341 |
| Connecticut Student Loan Foundation | 501(c)(3) | Hartford, CT | $7,439,089 |
| North Texas Higher Education Authority (NTHEA) | 501(c)(3) | Arlington, TX | $53,783,363 |
| Johnson County Community College Foundation | 501(c)(3) | Overland Park, KS | $6,468,445 |
| The State College of Florida Foundation | 501(c)(3) | Bradenton, FL | $8,282,394 |
| Santa Fe College Foundation | 501(c)(3) | Gainesville, FL | $12,137,079 |
| St Petersburg College Foundation | 501(c)(3) | Saint Petersburg, FL | $8,764,934 |
| College of Central Florida Foundation | 501(c)(3) | Ocala, FL | $14,177,758 |
| Foundation for Seminole State College of Florida | 501(c)(3) | Heathrow, FL | $8,079,491 |
| Portland Community College Foundation | 501(c)(3) | Portland, OR | $6,280,616 |
Data update history
February 10, 2025
Posted financials
Added Form 990 for fiscal year 2024
January 12, 2025
Used new vendors
Identified 1 new vendor, including
January 3, 2025
Received grants
Identified 2 new grant, including a grant for $150,000 from New America January 20, 2024
Posted financials
Added Form 990 for fiscal year 2023
Nonprofit Types
Credit unionsChapter / child organizationsCharities
Issues
Education
Characteristics
Political advocacyLobbyingState / local levelReceives government fundingEndowed supportProvides scholarshipsTax deductible donationsNo full-time employeesAccepts online donations
General information
- Address
- PO Box 5209
- Helena, MT 59604
- County
- Lewis and Clark County, MT
- Website URL
- mhesac.org/Â
- Phone
- (406) 495-7800
IRS details
- EIN
- 81-0393527
- Fiscal year end
- June
- Taxreturn type
- Form 990
- Year formed
- 1980
- Eligible to receive tax-deductible contributions (Pub 78)
- Yes
Categorization
- NTEE code, primary
- W60: Financial Institutions, Credit Unions
- NAICS code, primary
- 522120: Savings Institutions
- Parent/child status
- Subordinate organization
Free account sign-up
Want updates when Montana Higher Education Student Assistance Corporation has new information, or want to find more organizations like Montana Higher Education Student Assistance Corporation?
Create free Cause IQ account