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EIN 64-0642776

Mississippi Higher Education Assistance Corporation

IRS 501(c) type
501(c)(3)
Num. employees
0
City
Jackson
State
Mississippi
Year formed
1980
Most recent tax filings
2023-12-01
NTEE code, primary
W60: Financial Institutions, Credit Unions
Description
Mississippi Higher Education Assistance Corporation provides student loans to residents of Mississippi.
Total revenues
$9,781,341
2023
Total expenses
$9,009,973
2023
Total assets
$117,087,253
2023
Num. employees
0
2023

Program areas at Mississippi Higher Education Assistance Corporation

The Corporation serviced student loans incurred under the Higher Education act of 1965 as amended. The primary source of funds was the issuance of tax-exempt bonds and taxable notes. In 2014, the Corporation issued taxable bonds to renfinance its debt and is no longer eligible to issue tax-exempt bonds.
Funds contributed to woodward hines Education foundation for its general operations.

Grants made by Mississippi Higher Education Assistance Corporation

GranteeGrant descriptionAmount
Woodward Hines Education FoundationGeneral Operations$830,000

Personnel at Mississippi Higher Education Assistance Corporation

NameTitleCompensation
James E McHalePresident and Chief Executive Officer$0
William F. AlvisChief Financial Officer and Mheac Chief Operating Officer$0
Minette D KetchingsDirector of Operations and Controller and Corporate Secretary$0
John F HillBoard Chair / Board Vice - Chair / Director$0
Nathan SlaterBoard Vice - Chair / Director$0
...and 2 more key personnel

Financials for Mississippi Higher Education Assistance Corporation

RevenuesFYE 12/2023
Total grants, contributions, etc.$3,759,850
Program services$5,401,650
Investment income and dividends$619,841
Tax-exempt bond proceeds$0
Royalty revenue$0
Net rental income$0
Net gain from sale of non-inventory assets$0
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous revenues$0
Total revenues$9,781,341

Form 990s for Mississippi Higher Education Assistance Corporation

Fiscal year endingDate received by IRSFormPDF link
2023-122024-11-07990View PDF
2022-122023-11-15990View PDF
2021-122022-11-14990View PDF
2020-122021-11-15990View PDF
2019-122021-02-24990View PDF
...and 10 more Form 990s
Data update history
January 8, 2024
Posted financials
Added Form 990 for fiscal year 2022
November 25, 2023
Posted financials
Added Form 990 for fiscal year 2021
July 6, 2023
Updated personnel
Identified 3 new personnel
June 30, 2023
Posted financials
Added Form 990 for fiscal year 2020
August 23, 2021
Posted financials
Added Form 990 for fiscal year 2019
Nonprofit Types
Credit unionsHeadquarter / parent organizationsCharities
Issues
Education
Characteristics
LobbyingPartially liquidatedState / local levelReceives government fundingTax deductible donationsNo full-time employeesAccepts online donations
General information
Address
PO Box 5008
Jackson, MS 39296
Metro area
Jackson, MS
County
Hinds County, MS
Website URL
mheac.get2college.org/aboutmheac.html 
Phone
(601) 321-5555
IRS details
EIN
64-0642776
Fiscal year end
December
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
Central organization
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