HIGHER EDUCATION SERVICING CORPORATION Charity Report

Public IRS 990 nonprofit record

HIGHER EDUCATION SERVICING CORPORATION

EIN 75-1661098 · Scholarships & Student Financial Aid (B82)

What they do

HESC FOSTERS QUALITY SERVICING for STUDENT LOANS, ENCOURAGES and PROMOTES STUDENT ENROLLMENT AT POST-SECONDARY LEVEL INSTITUTIONS. HESC PROVIDES STUDENT LOANS and LIFE of LOAN SERVICING and PROGRAM ADMINISTRATION of STUDENT LOANS UNDER AGREEMENTS WITH NOTE HOLDERS INCLUDING HIGHER EDUCATION AUTHORITIES. HESC is RESPONSIBLE for THE REPORTING, COLLECTION and ACCOUNTING for THE LOANS. HESC ALSO ADMINISTERS EDUCATIONAL OUTREACH PROGRAMS and SERVICES IN NORTH TEXAS.

Before you give

Should I give to this charity?

Easy charity check

Look at where the money went

Of every $100 spent, about $83.10 was reported for mission work. Use the spending picture below and ask what results that work produced.

Plain answer: A tax form cannot prove that a charity is doing good. It can show how the charity says it spent its money—and point out questions you should ask.

Basic facts we verified

IRS warning checkNo IRS revocation warning appears in this data.

Money report from 2024The charity has a recent tax report to read.

They explain their jobThe charity tells us what it is trying to do.

They name their leaders15 people are listed in the latest report.

You can reach themThey list contact information, so you can ask questions.

Money made simple

31.73%of revenue went to mission work83.1% of expenses · Program services

$38.19spent for every $100 of revenueRevenue covered expenses this year.

6.46%of revenue went to management and office costs16.9% of expenses

$5.55in assets for every $1 spent this yearSome assets cannot be spent right away.

56.0%of its money came from giftsOther money may come from services or investments.

Ask these three easy questions

Who did you help? Ask for a recent story or report that shows real results.
What will my money do? Ask exactly what your gift will pay for.
Is this really the charity? Give only through its official website or confirmed phone number.

Pay context: The highest compensation shown in this filing is $439,785 for PHILLIP WAMBSGANSS (PRESIDENT). Compare pay with organizations of similar size and complexity.

Bottom line: Do not decide from a name, mission statement, or tax status alone. Look at where the money went, then ask what changed, who was helped, and what your gift will do. YouCanGiveBack does not endorse or grade organizations.

Money

Financial picture

Tax year 2024

A plain-language look at the latest Form 990 figures available. These numbers help you ask better questions; they do not, by themselves, rate whether a charity is good or bad.

$100revenue

How each $100 of revenue was used

The large number compares each expense with revenue. The smaller number shows its share of total expenses.

Total reported revenue$36,047,569

Mission workProgram services$11,436,86031.73% of revenue83.1% of expenses

ManagementOffice and general costs$2,328,1756.46% of revenue16.9% of expenses

FundraisingAsking for donations0.00% of revenue0.0% of expenses

Revenue left after expensesReported annual surplus$22,282,53461.81% of revenueShown in gray on the chart

Total expenses$13,765,03538.19% of revenue

Gray means reported revenue left after expenses for this filing year. It does not necessarily mean cash sitting in a bank account.

Has the pattern changed?

Colored bars = expense mix: how each year’s expenses were divided. Total expenses vs. revenue shows whether the charity spent less or more than it received. The current filing is first.

YearExpense mixDetails

2024CurrentExpense mix: 83.1% mission · 16.9% management · 0.0% fundraisingTotal expenses: 38.19% of revenue

2023Expense mix: 83.9% mission · 16.2% management · 0.0% fundraisingTotal expenses: 72.65% of revenue

2022Expense mix: 85.8% mission · 14.2% management · 0.0% fundraisingTotal expenses: 77.28% of revenue

2021Expense mix: 89.5% mission · 10.5% management · 0.0% fundraisingTotal expenses: 64.71% of revenue

2020Expense mix: 89.1% mission · 10.9% management · 0.0% fundraisingTotal expenses: 67.80% of revenue

2019Expense mix: 91.4% mission · 8.6% management · 0.0% fundraisingTotal expenses: 70.85% of revenue

2018Expense mix: 92.0% mission · 8.0% management · 0.0% fundraisingTotal expenses: 69.12% of revenue

2017Expense mix: 91.6% mission · 8.4% management · 0.0% fundraisingTotal expenses: 64.53% of revenue

Money in and money out

Revenue$36,047,569

Expenses$13,765,035

Annual surplus $22,282,534 Revenue was higher than expenses for this filing year.

Reported spending amounts

Mission work means the Form 990 category called program services. These are reported accounting categories—not an independent measurement of results.

Mission work (program services)$11,436,860 · 83.1% of expenses

Management and office costs$2,328,175 · 16.9% of expenses

See all reported dollar amounts

Revenue$36,047,569

Expenses$13,765,035

Assets$76,412,285

Income$36,110,134

Contributions$20,186,974

Mission work (program services)$11,436,860

Grants given$33,000

Average grant$16,500

Management and general$2,328,175

Executive compensation (total)$624,158

Accounting fees$157,975

People

Leadership and board

Tax year 2024

Names, titles, time, and compensation below are reported by the organization on its Form 990.

People reported as paid

Person and titleCompensation

PHILLIP WAMBSGANSSPRESIDENT · 40 hrs/week $439,785Base $395,283 · Other $44,502

ROBERT LAMBERSONEVP - IT & SYSTEM DEVELOPMENT · 40 hrs/week $339,877Base $299,586 · Other $40,291

KEVIN MONTGOMERYEVP - OPERATIONS · 40 hrs/week $232,228Base $202,114 · Other $30,114

DENISE DUNN-TRAKSHELVP OF FINANCE · 40 hrs/week $217,958Base $189,820 · Other $28,138

VINCENT POLITESERV. SYSTEM MGR. · 40 hrs/week $176,955Base $159,526 · Other $17,429

COURTNEY CHURCHWELLDIR. OF ACCOUNTING · 40 hrs/week $165,494Base $141,790 · Other $23,704

ANDREW SWAFFARPROGRAMMER · 40 hrs/week $163,653Base $139,863 · Other $23,790

BRADFORD BYNUMORIGIN. SYS. MGR. · 40 hrs/week $160,279Base $143,427 · Other $16,852

PHIL KINMANDIR OF COMPLIANCE · 40 hrs/week $158,175Base $136,152 · Other $22,023

JOHN HIBBSDIRECTOR · 1 hrs/week $1,800

JUDITH SCHNEIDERSEC/TREAS · 1 hrs/week $1,800

KENNETH D WOODSPRESIDENT · 1 hrs/week $1,800

Compensation alone does not tell whether pay is reasonable. Consider the charity’s size, work, location, and results.

See everyone listed on the board or leadership roster (15)

PHILLIP WAMBSGANSSPRESIDENT

ROBERT LAMBERSONEVP - IT & SYSTEM DEVELOPMENT

KEVIN MONTGOMERYEVP - OPERATIONS

DENISE DUNN-TRAKSHELVP OF FINANCE

VINCENT POLITESERV. SYSTEM MGR.

COURTNEY CHURCHWELLDIR. OF ACCOUNTING

ANDREW SWAFFARPROGRAMMER

BRADFORD BYNUMORIGIN. SYS. MGR.

PHIL KINMANDIR OF COMPLIANCE

JOHN HIBBSDIRECTOR

JUDITH SCHNEIDERSEC/TREAS

KENNETH D WOODSPRESIDENT

STEPHANIE BUDUHANDIRECTOR

STEPHEN VINCENTDIRECTOR

LAURIE BIANCODIRECTOR

About this charity

Recognized since: January 1999
Location: 4381 W GREEN OAKS BLVD 200, ARLINGTON, TX 76016
County: Tarrant
In care of: PHILLIP WAMBSGANSS
Primary officer: PHILLIP WAMBSGANSS, President

How to reach them

WebsiteVisit the charity’s website Phone(817) 265-9158

Filing and classification

Latest tax year: 2024
Tax period began: September 1, 2024
Return type: 990
Tax preparer: SUTTON FROST CARY LLP
NTEE classification: Scholarships & Student Financial Aid (B82)
IRS tax category: Scholarships & Student Financial Aid
Grant-giving organization: Yes