Skip to content
ProPublica Donate
ProPublica Donate

Montana Higher Education Student Assistance Corporation

Organization summary

Type of Nonprofit

Designated as a Organizations for any of the following purposes: religious, educational, charitable, scientific, literary, testing for public safety, fostering national or international amateur sports competition (as long as it doesn't provide athletic facilities or equipment), or the prevention of cruelty to children or animals.

Category: Educational Institutions and Related Activities / Scholarships, Student Financial Aid Services, Awards (NTEE)

Donations to this organization are tax deductible.

Details

According to its June 2023 tax filing, this nonprofit:

Reported conflict of interest transactions
Organizations must report loans, grants or business transactions with interested parties, which may include key employees and officers, their family members and any businesses in which they hold a controlling interest. These transactions must be reported on Schedule L.

Summary charts: organization finances over time

Revenue
$24M (2023)

Expenses
$26M (2023)

Total Assets
$381M (2023)

Total Liabilities
$300M (2023)

Source: Form 990 tax filings from 2012 to 2023

Tax Filings and Audits by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Audits are required to be submitted by nonprofit organizations that spend $750,000 or more in federal grant money in a fiscal year. "Single audits" look at the entire organization's finances and compliance, while other audits are program specific. Nonprofit Explorer has PDFs of audits for some nonprofits for fiscal year 2015 and later. Audit data is from the Federal Audit Clearinghouse.

Fiscal Year Ending June
2023

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$23,987,922
Expenses
$26,030,923
Net Income
-$2,043,001
Net Assets
$81,188,345
Notable Sources of Revenue Percent of Total Revenue
Contributions $689,370
2.9%
Program Services $22,556,943
94.0%
Investment Income $726,821
3.0%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $14,788
0.1%
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $14,400
0.1%
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $381,209,209
Total Liabilities $300,020,864
Net Assets $81,188,345
Other
Reported conflict of interest transactions
Compensation
Key Employees and Officers Compensation Related Other
Kimberly Cunningham (Dir Mhesac, Dir Board Chair Saf) $1,800 $1,800 $0
Terry Cosgrove (Dir Mhesac, Dir Saf) $1,800 $1,800 $0
Michael Green (Dir Chair & Off Pres) $1,800 $0 $0
George S Olsen (Dir & Off Sec/Treas) $1,800 $0 $0
Shannon Stober (Director Vice Chair) $1,800 $0 $0
Brianne Rogers (Director) $1,800 $0 $0
Wendy Wigert (Director) $1,800 $0 $0
Joyce Dombrouski (Director Started 7/1/2022) $900 $0 $0
Scott Todorovich (Ceo Mhesac, Pres/Ceo Saf) $0 $254,312 $38,450
Jolene Selby (Cfo Mhesac, Vp Saf) $0 $208,272 $32,741
Kelly Cresswell (Exec Dir Mhesac, Vp Saf) $0 $167,840 $18,589
Crystine Miller (Officer Vp Started 10/26/22) $0 $0 $0
Ron Muffick (Officer Vp Done 6/30/22) $0 $0 $0

Document Links

Fiscal Year Ending June
2022

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$15,047,614
Expenses
$16,317,868
Net Income
-$1,270,254
Net Assets
$83,319,177
Notable Sources of Revenue Percent of Total Revenue
Contributions $1,009,124
6.7%
Program Services $13,842,275
92.0%
Investment Income $152,493
1.0%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $43,722
0.3%
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $12,600
0.1%
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $454,297,151
Total Liabilities $370,977,974
Net Assets $83,319,177
Other
Reported conflict of interest transactions
Compensation
Key Employees and Officers Compensation Related Other
Kimberly Cunningham (Director Mhesac,Director Chair Saf) $1,800 $1,800 $0
Terry Cosgrove (Director Mhesac,Director Saf) $1,800 $1,800 $0
Michael Green (Director Chair & Officer President) $1,800 $0 $0
George S Olsen (Director&Officer Secretary/Treasurer) $1,800 $0 $0
Shannon Stober (Director Vice Chair) $1,800 $0 $0
Brianne Rogers (Director) $1,800 $0 $0
Wendy Wigert (Director) $1,800 $0 $0
Scott Todorovich (Ceo Mhesac,President/Ceo Saf) $0 $179,680 $28,908
Jolene Selby (Cfo Mhesac,Vice President Saf) $0 $161,756 $35,941
Kelly Cresswell (Executive Dir Mhesac,Vice Pres Saf) $0 $141,531 $9,303
Ron Muffick (Officer Vice President) $0 $0 $0

Document Links

Fiscal Year Ending June
2021

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$16,450,082
Expenses
$16,652,032
Net Income
-$201,950
Net Assets
$85,114,872
Notable Sources of Revenue Percent of Total Revenue
Contributions $618,155
3.8%
Program Services $15,662,741
95.2%
Investment Income $165,676
1.0%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $3,510
0.0%
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $12,600
0.1%
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $535,782,585
Total Liabilities $450,667,713
Net Assets $85,114,872
Other
Reported conflict of interest transactions
Compensation
Key Employees and Officers Compensation Related Other
Kim Cunningham (Director Mhesac,Director Chair Saf) $1,800 $1,800 $0
Terry Cosgrove (Director Mhesac,Director Saf) $1,800 $1,800 $0
Michael Green (Director Chair & Officer President) $1,800 $0 $0
George S Olsen (Director&Officer Secretary/Treasurer) $1,800 $0 $0
Shannon Stober (Director Vice Chair) $1,800 $0 $0
Brianne Rogers (Director) $1,800 $0 $0
Wendy Wigert (Director) $1,800 $0 $0
Clayton Christian (Ex Officio Director) $0 $0 $0
Scott Todorovich (Ceo Mhesac,President/Ceo Saf) $0 $219,950 $30,769
Jolene Selby (Cfo Mhesac,Vice President Saf) $0 $210,901 $38,146
Kelly Cresswell (Executive Dir Mhesac,Vice Pres Saf) $0 $179,577 $11,584
Ron Muffick (Officer Vice President) $0 $0 $0

Document Links

Fiscal Year Ending June
2020

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$24,210,727
Expenses
$25,757,349
Net Income
-$1,546,622
Net Assets
$85,356,069
Notable Sources of Revenue Percent of Total Revenue
Contributions $463,546
1.9%
Program Services $23,273,739
96.1%
Investment Income $482,004
2.0%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets -$8,562
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $12,600
0.0%
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $593,255,692
Total Liabilities $507,899,623
Net Assets $85,356,069
Other
Reported conflict of interest transactions
Compensation
Key Employees and Officers Compensation Related Other
Kim Cunningham (Director Mhesac,Director Chair Saf) $1,800 $1,800 $0
Terry Cosgrove (Director Mhesac,Director Saf) $1,800 $1,800 $0
Michael Green (Director Chair & Officer President) $1,800 $0 $0
George S Olsen (Director&Officer Secretary/Treasurer) $1,800 $0 $0
Shannon Stober (Director Vice Chair) $1,800 $0 $0
Brianne Rogers (Director) $1,650 $0 $0
Wendy Wigert (Director) $1,650 $0 $0
Scott Todorovich (Ceo Mhesac,President/Ceo Saf) $0 $169,768 $27,647
Jolene Selby (Cfo Mhesac,Vice President Saf) $0 $163,374 $30,194
Kelly Cresswell (Executive Dir Mhesac,Vice Pres Saf) $0 $139,821 $9,176
Clayton Christian (Ex Officio Director) $0 $0 $0
Ron Muffick (Officer Vice President) $0 $0 $0

Document Links

Fiscal Year Ending June
2019

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$31,953,405
Expenses
$33,829,885
Net Income
-$1,876,480
Net Assets
$86,723,545
Notable Sources of Revenue Percent of Total Revenue
Contributions $394,952
1.2%
Program Services $30,983,487
97.0%
Investment Income $574,966
1.8%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $12,450
0.0%
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $666,466,179
Total Liabilities $579,742,634
Net Assets $86,723,545
Other
Reported conflict of interest transactions
Compensation
Key Employees and Officers Compensation Related Other
Michael Green (Board Chair/President) $1,800 $0 $0
William Thomas (Vice Chair) $1,800 $0 $0
Terry Cosgrove (Director) $1,800 $1,800 $0
Kim Cunningham (Director) $1,800 $1,800 $0
George Olsen (Director/Secretary/Treasurer) $1,800 $0 $0
Shannon Stober (Director) $1,800 $0 $0
Casey Lozar (Director) $1,800 $0 $0
Brianne Rogers (Director) $0 $0 $0
Wendy Wigert (Director) $0 $0 $0
Clayton Christian (Ex Officio Director) $0 $0 $0
Ron Muffick (Vice President) $0 $0 $0
Scott Todorovich (Ceo) $0 $167,676 $19,204
Jolene Selby (Cfo) $0 $153,471 $34,435
Kelly Cresswell (Rhm Executive Director) $0 $136,611 $8,983
James Stipcich (Ceo Thru 3/23/18) $0 $374,271 $22,938

Document Links

Fiscal Year Ending June
2018

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$30,007,913
Expenses
$32,917,911
Net Income
-$2,909,998
Net Assets
$88,546,121
Notable Sources of Revenue Percent of Total Revenue
Contributions $272,473
0.9%
Program Services $29,583,997
98.6%
Investment Income $149,078
0.5%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $2,365
0.0%
Notable Expenses Percent of Total Expenses
Executive Compensation $12,600
0.0%
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $755,743,439
Total Liabilities $667,197,318
Net Assets $88,546,121
Other
Reported conflict of interest transactions
Compensation
Key Employees and Officers Compensation Related Other
Lila Taylor (Director) $1,800 $150 $0
William Thomas (Vice Chair) $1,800 $0 $0
Michael Green (Board Chair/President) $1,800 $0 $0
George Olsen (Director/Secretary/Treasurer) $1,800 $0 $0
Casey Lozar (Director) $1,650 $0 $0
Kim Cunningham (Director) $1,650 $1,800 $0
Terry Cosgrove (Director) $1,650 $1,650 $0
Clayton Christian (Ex Officio Director) $0 $0 $0
Shannon Stober (Director) $0 $0 $0
Jolene Selby (Cfo) $0 $143,126 $31,567
James Stipcich (Ceo) $0 $196,518 $23,103
Ron Muffick (Vice President) $0 $0 $0

Document Links

Fiscal Year Ending June
2017

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$29,554,619
Expenses
$33,475,814
Net Income
-$3,921,195
Net Assets
$91,440,722
Notable Sources of Revenue Percent of Total Revenue
Contributions $937,332
3.2%
Program Services $28,192,935
95.4%
Investment Income $424,352
1.4%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $11,550
0.0%
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $859,565,581
Total Liabilities $768,124,859
Net Assets $91,440,722
Other
Reported conflict of interest transactions
Compensation
Key Employees and Officers Compensation Related Other
Fred Flanders (Director) $1,800 $0 $0
Lila Taylor (Director) $1,800 $1,800 $0
William Thomas (Vice Chair) $1,800 $0 $0
Michael Green (Board Chair/President) $1,800 $0 $0
George Olsen (Director/Secretary/Treasurer) $1,800 $0 $0
Jim Penner (Director/Vice President) $1,800 $0 $0
Tyler Christianson (Director/Student Member) $600 $0 $0
Casey Lozar (Director) $0 $0 $0
Kim Cunningham (Director) $0 $1,800 $0
Terry Cosgrove (Director) $0 $0 $0
Clayton Christian (Ex Officio Director) $0 $0 $0
Jolene Selby (Cfo) $0 $176,072 $31,496
James Stipcich (Ceo) $0 $244,474 $25,405
Donnie J Whitaker (Saf Top Financial Official) $0 $28,901 $2,055
Ron Muffick (Vice President) $0 $0 $0

Document Links

Fiscal Year Ending June
2016

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$29,547,360
Expenses
$33,834,572
Net Income
-$4,287,212
Net Assets
$95,358,409
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $29,232,697
98.9%
Investment Income $314,663
1.1%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $12,400
0.0%
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $965,432,682
Total Liabilities $870,074,273
Net Assets $95,358,409
Other
Reported conflict of interest transactions
Compensation
Key Employees and Officers Compensation Related Other
Tyler Christianson (Director Student Member) $2,400 $0 $0
Fred Flanders (Director) $1,800 $0 $0
Lila Taylor (Director) $1,800 $1,800 $0
William Thomas (Vice Chair) $1,800 $0 $0
Michael Green (Board Chair/President) $1,800 $0 $0
George Olsen (Secretary/Treasurer) $1,800 $0 $0
Jim Penner (Vice President) $1,800 $0 $0
Jolene Selby (Top Financial Official/Assistant Treasurer Thr) $0 $131,700 $26,331
James Stipcich (Top Management Official) $0 $192,847 $23,444
Donnie J Whitaker Thru 11316 (Top Financial Official) $0 $102,206 $23,388

Document Links

Fiscal Year Ending June
2015

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$31,168,796
Expenses
$34,732,326
Net Income
-$3,563,530
Net Assets
$99,643,626
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $30,891,017
99.1%
Investment Income $277,779
0.9%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $13,200
0.0%
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $1,074,548,977
Total Liabilities $974,905,351
Net Assets $99,643,626
Other
Reported conflict of interest transactions
Compensation
Key Employees and Officers Compensation Related Other
Tyler Christianson (Director/Student Member) $2,400 $0 $0
Fred Flanders (Director) $2,000 $0 $0
Lila Taylor (Director) $2,000 $1,900 $0
William Thomas (Vice Chair) $2,000 $0 $0
Michael Green (Board Chair/President) $2,000 $0 $0
George Olsen (Secretary/Treasurer) $2,000 $0 $0
Jim Penner (Vice President) $2,000 $0 $0
Jolene Selby (Top Financial Official Thru 3/31/15) $0 $166,605 $29,589
James Stipcich (Top Management Official) $0 $222,580 $23,830
Donnie J Whitaker (Top Financial Official As Of 4/17/15) $0 $95,907 $19,525

Document Links

Fiscal Year Ending June
2014

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$34,966,109
Expenses
$38,519,282
Net Income
-$3,553,173
Net Assets
$103,207,159
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $34,690,948
99.2%
Investment Income $275,161
0.8%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $14,600
0.0%
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $1,192,762,703
Total Liabilities $1,089,555,544
Net Assets $103,207,159
Other
Reported conflict of interest transactions
Compensation
Key Employees and Officers Compensation Related Other
Fred Flanders (Director) $2,400 $0 $0
Lila Taylor (Director) $2,400 $2,400 $0
William Thomas (Vice Chair) $2,400 $0 $0
Michael Green (Board Chair/President) $2,400 $0 $0
George Olsen (Secretary/Treasurer) $2,400 $0 $0
Jim Penner (Vice President) $2,400 $0 $0
Tyler Christianson (Director/Student Member) $1,600 $0 $0
Jolene Selby (Top Financial Official) $0 $168,322 $24,953
James Stipcich (Top Management Official) $0 $242,732 $26,305

Document Links

Fiscal Year Ending June
2013

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$41,762,741
Expenses
$41,691,841
Net Income
$70,900
Net Assets
$106,759,887
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $41,453,894
99.3%
Investment Income $308,847
0.7%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $16,400
0.0%
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $1,316,037,965
Total Liabilities $1,209,278,078
Net Assets $106,759,887

Document Links

Fiscal Year Ending June
2012

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$119,407,568
Expenses
$27,628,215
Net Income
$91,779,353
Net Assets
$106,689,273
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $62,612,415
52.4%
Investment Income $792,180
0.7%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $56,002,973
46.9%
Notable Expenses Percent of Total Expenses
Executive Compensation $14,400
0.1%
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $1,476,754,430
Total Liabilities $1,370,065,157
Net Assets $106,689,273

Document Links

Fiscal Year Ending June
2011

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending June
2010

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending June
2009

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending June
2008

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending June
2007

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending June
2006

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending June
2003

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending June
2002

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

About This Data

Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats.

The summary data contains information processed by the IRS during the 2012-2019 calendar years; this generally consists of filings for the 2011-2018 fiscal years, but may include older records. This data release includes only a subset of what can be found in the full Form 990s.

In addition to the raw summary data, we link to PDFs and digital copies of full Form 990 documents wherever possible. This consists of separate releases by the IRS of Form 990 documents processed by the agency, which we update regularly.

We also link to copies of audits nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year since 2016. These audits are copied from the Federal Audit Clearinghouse.

Which Organizations Are Here?

Every organization that has been recognized as tax exempt by the IRS has to file Form 990 every year, unless they make less than $200,000 in revenue and have less than $500,000 in assets, in which case they have to file form 990-EZ. Organizations making less than $50,000 don’t have to file either form but do have to let the IRS they’re still in business via a Form 990N "e-Postcard."

Nonprofit Explorer has organizations claiming tax exemption in each of the 27 subsections of the 501(c) section of the tax code, and which have filed a Form 990, Form 990EZ or Form 990PF. Taxable trusts and private foundations that are required to file a form 990PF are also included. Small organizations filing a Form 990N "e-Postcard" are not included in this data.

Types of Nonprofits

There are 27 nonprofit designations based on the numbered subsections of section 501(c) of the tax code. See the list »

Get the Data

For those interested in acquiring the original data from the source, here’s where our data comes from:

  • Raw filing data. Includes EINs and summary financials as structured data.
  • Exempt Organization profiles. Includes organization names, addresses, etc. You can merge this with the raw filing data using EIN numbers.
  • Form 990 documents. Prior to 2017, these documents were obtained and processed by Public.Resource.org and ProPublica. Bulk PDF downloads since 2017 are available from the IRS.
  • Form 990 documents as XML files. Includes complete filing data (financial details, names of officers, tax schedules, etc.) in machine-readable format. Only available for electronically filed documents. Electronic data released prior to October 2021 is also available through Amazon Web Services.
  • Audits. PDFs of single or program-specific audits for nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year. Available for fiscal year 2015 and later.

API

The data powering this website is available programmatically, via an API. Read the API documentation »