Texas Guaranteed Student Loan Corporation

Analysis

Texas Guaranteed Student Loan Corporation is a registered charity in United States, based in Round Rock, TX. It received its IRS tax-exemption ruling in October 1980, 46 years ago. Its declared purposes cover public and societal benefit, which this site groups under other charitable purposes. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Texas Guaranteed Student Loan Corporation reported income of $64.6m and spending of $38.6m, leaving 40% of income unspent that year. Across the 5 years on record, from September 2019 to September 2023, income fell from $105.2m to $64.6m (-39%), an average of -12% a year. The sharpest change came in the year to September 2021, when income rose by 63%. Over the whole period it spent 107% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Texas Guaranteed Student Loan Corporation sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within TX. Charities of a similar size with the same main cause include South Nassau Communites Hospital ($64.4m), Mercy Hospital Carthage ($64.6m) and Adventist Healthcare Fort Washington Medical Center Inc ($64.4m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 89% and program service revenue 6.8% of the total. Compensation of current officers, directors and key employees was $3.7m (9.7% of expenses). Other salaries and wages came to $20.3m. At year end it held assets of $486.9m against liabilities of $296.6m, net assets of $190.2m. It reported 524 employees.