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 $352 thousand for 5,692 borrowers in fiscal year 2023. $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.
Reach Higher Montana outreach staff served over 25,000 Montana students through college and career outreach, scholarship workshops, services for youth in foster care, dual enrollment and career fairs.
Reach Higher Montana 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 2023, reach Higher Montana delivered scholarships and grants to 700 Montana students.
Grants made by Montana Higher Education Student Assistance Corporation
Who funds Montana Higher Education Student Assistance Corporation
Grants from foundations and other nonprofits
Personnel at Montana Higher Education Student Assistance Corporation
| Name | Title | Compensation | Date of data |
|---|
| Scott Todorovich | Chief Executive Officer Mhesac , President and Chief Executive Officer Saf | $0 | 2023-06-30 |
| Jolene Selby | Chief Financial Officer Mhesac , Vice President Saf | $0 | 2023-06-30 |
| Kelly Cresswell | Executive Director Mhesac , Vice President Saf | $0 | 2023-06-30 |
| George S Olsen | Director and Officer - Secretary and Treasurer | $1,800 | 2023-06-30 |
| Michael Green | President | $1,800 | 2023-11-06 |
| ...and 4 more key personnel |
Financials for Montana Higher Education Student Assistance Corporation
| Revenues | FYE 06/2023 | FYE 06/2022 | % Change |
|---|
| Total grants, contributions, etc. | $689,370 | $1,009,124 | -31.7% |
| Program services | $22,556,943 | $13,842,275 | 63% |
| Investment income and dividends | $726,821 | $152,493 | 376.6% |
| Tax-exempt bond proceeds | $0 | $0 | - |
| Royalty revenue | $0 | $0 | - |
| Net rental income | $0 | $0 | - |
| Net gain from sale of non-inventory assets | $14,788 | $43,722 | -66.2% |
| 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 | $23,987,922 | $15,047,614 | 59.4% |
Organizations like Montana Higher Education Student Assistance Corporation
| Organization | Type | Location | Revenue |
|---|
| Mississippi Higher Education Assistance Corporation | 501(c)(3) | Jackson, MS | $7,247,326 |
| St Louis Municipal Finance Corporation | 501(c)(3) | Saint Louis, MO | $54,423,000 |
| Stable Home Fund | 501(c)(3) | New York, NY | $6,074,136 |
| California State University Foundation | 501(c)(3) | Long Beach, CA | $6,047,467 |
| North Texas Higher Education Authority (NTHEA) | 501(c)(3) | Arlington, TX | $26,983,231 |
| SMCM Foundation | 501(c)(3) | St Marys City, MD | $6,696,273 |
| Santa Fe College Foundation | 501(c)(3) | Gainesville, FL | $6,200,802 |
| St Petersburg College Foundation | 501(c)(3) | Saint Petersburg, FL | $7,970,051 |
| The State College of Florida Foundation | 501(c)(3) | Bradenton, FL | $12,356,846 |
| Clarkson College | 501(c)(3) | Omaha, NE | $35,991,791 |
Data update history
January 20, 2024
Posted financials
Added Form 990 for fiscal year 2023
January 20, 2024
Updated personnel
Identified 2 new personnel
December 30, 2023
Used new vendors
Identified 2 new vendors, including , and
November 25, 2023
Posted financials
Added Form 990 for fiscal year 2022
Nonprofit Types
Credit unionsChapter / child organizationsCharities
Issues
Education
Characteristics
Political advocacyLobbyingState / local levelReceives government fundingEndowed supportProvides scholarshipsTax deductible donationsNo full-time employees
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
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