NORTHSTAR EDUCATION FINANCE INC: Form 990, tax year 2022
View the entire original 990 at ProPublica ↗
- Organization
- NORTHSTAR EDUCATION FINANCE INC (EIN 41-1961427)
- Tax period
- 2022-10-01 to 2023-09-30
- Filed
- 2024-03-01
- IRS object ID
- 202420619349300612
- Schema version
- 2022v5.0
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2024-03-01T11:12:31-06:00 | ReturnTs |
| Tax Period End | 2023-09-30 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 390859910 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | BAKER TILLY US LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 225 S 6TH ST 2300 | AddressLine1Txt |
| City | MINNEAPOLIS | CityNm |
| State Abbreviation | MN | StateAbbreviationCd |
| ZIP | 55402 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2022-10-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 411961427 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | NORTHSTAR EDUCATION FINANCE INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | NORT | BusinessNameControlTxt |
| Phone | 4024582370 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 9855 W 78TH ST 012 | AddressLine1Txt |
| City | EDEN PRAIRIE | CityNm |
| State Abbreviation | MN | StateAbbreviationCd |
| ZIP | 553448016 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | CHARLES M OSBORNE | PersonNm |
| Person Title | CFO & TREASURER | PersonTitleTxt |
| Phone | 4024582370 | PhoneNum |
| Signature | 2024-02-29 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | CHARLES | PersonFirstNm |
| Person Last | OSBORNE | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | XXX-XX-XXXX | SSN |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | Yes (1) | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | KAREN A GRIES | PreparerPersonNm |
| PTIN | P00078514 | PTIN |
| Phone | 6128764500 | PhoneNum |
| Preparation | 2024-02-29 | PreparationDt |
Additional Filer Information AdditionalFilerInformation
Trusted Customer TrustedCustomerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trusted Customer | 2 | TrustedCustomerCd |
| Authentication Assurance Level | AAL1 | AuthenticationAssuranceLevelCd |
| Identity Assurance Level | IAL1 | IdentityAssuranceLevelCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2022 | TaxYr |
| Build TS | 2023-04-26 12:10:37Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Change | Yes (X) | AddressChangeInd |
| Principal Officer | TAIGE P THORNTON | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 9855 W 78TH ST 012 | AddressLine1Txt |
| City | EDEN PRAIRIE | CityNm |
| State Abbreviation | MN | StateAbbreviationCd |
| ZIP | 553448016 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $72,587,293 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | WWW.NORTHSTAR.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 2000 | FormationYr |
| Legal Domicile State | DE | LegalDomicileStateCd |
| Activity Or Mission | TO FOSTER, AID, ENCOURAGE AND ASSIST THE PURSUIT OF HIGHER EDUCATION. | ActivityOrMissionDesc |
| Voting Members Governing Body | 9 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 7 | VotingMembersIndependentCnt |
| Total Employee | 0 | TotalEmployeeCnt |
| Total Volunteers | 0 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $39,682,064 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $69,156,471 | CYProgramServiceRevenueAmt |
| PY Investment Income | $495,713 | PYInvestmentIncomeAmt |
| CY Investment Income | $3,430,822 | CYInvestmentIncomeAmt |
| PY Other Revenue | $0 | PYOtherRevenueAmt |
| CY Other Revenue | $0 | CYOtherRevenueAmt |
| PY Total Revenue | $40,177,777 | PYTotalRevenueAmt |
| CY Total Revenue | $72,587,293 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $4,788,142 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $4,671,075 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $381,128 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $372,669 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $40,861,605 | PYOtherExpensesAmt |
| CY Other Expenses | $69,852,390 | CYOtherExpensesAmt |
| PY Total Expenses | $46,030,875 | PYTotalExpensesAmt |
| CY Total Expenses | $74,896,134 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | -$5,853,098 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | -$2,308,841 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $1,293,468,719 | TotalAssetsBOYAmt |
| Total Assets EOY | $1,017,887,615 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $1,132,229,810 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $858,957,547 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $161,238,909 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $158,930,068 | NetAssetsOrFundBalancesEOYAmt |
| Mission | TO FOSTER, AID, ENCOURAGE AND ASSIST THE PURSUIT OF HIGHER EDUCATION BY REDUCING THE COST OF HIGHER EDUCATION THROUGH THE TOTAL HIGHER EDUCATION (THE) LOAN PROGRAM AND ADDITIONALLY THROUGH A GRANTS PROGRAM. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $67,074,365 | ExpenseAmt |
| Revenue | $69,156,471 | RevenueAmt |
| Desc | MANAGE PORTFOLIO OF OUTSTANDING FFELP (APPROX. 94%) AND PRIVATE (APPROX. 6%) STUDENT LOANS WITH OUTSTANDING BALANCES TOTALING APPROX. $901 MILLION AS OF 9/30/2023. TO THE BEST OF THE KNOWLEDGE AND BELIEF OF THE ORGANIZATION'S OFFICERS, THE BENEFITS AND INTEREST RATES THAT IT HAS PROVIDED TO STUDENT BORROWERS ARE SUBSTANTIALLY MORE FAVORABLE TO STUDENT BORROWERS THAN THE BENEFITS AND INTEREST RATES PROVIDED BY FOR-PROFIT LENDERS. DURING FISCAL YEARS 2023 AND 2022, RESPECTIVELY, THE ORGANIZATION MADE T.H.E. REPAYMENT BONUS DISTRIBUTIONS (INTEREST REBATES WHICH ARE PROCESSED AS CREDITS TO ELIGIBLE BORROWER ACCOUNTS) OF APPROXIMATELY $181 THOUSAND AND $4.2 MILLION, RESPECTIVELY. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $4,671,075 | ExpenseAmt |
| Grant | $4,671,075 | GrantAmt |
| Desc | PROVIDE GRANTS TO OTHER ORGANIZATIONS TO ENHANCE POST-SECONDARY EDUCATION OPPORTUNITIES FOR MINNESOTA STUDENTS BY RELIEVING SOME OF THEIR FINANCIAL BURDEN THROUGH SCHOLARSHIPS AND/OR ASSISTANCE WITH THEIR POST-SECONDARY READINESS PREPARATION. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Expenses | $71,745,440 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (1) | DescribedInSection501c3Ind |
| Schedule B Required | 0 | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Lobbying Activities | 0 | LobbyingActivitiesInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | 0 | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | Yes (1) | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | 0 | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | 0 | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (1) | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | Yes (1) | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | 0 | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | 0 | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | 0 | PYExcessBenefitTransInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | Yes (1) | DisregardedEntityInd |
| Related Entity | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | 0 | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 14 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Employee | 0 | EmployeeCnt |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | 0 | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | 0 | PayPremiumsPrsnlBnftCntrctInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 9 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 7 | IndependentVotingMemberCnt |
| Family Or Business Rln | Yes (1) | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | Yes (1) | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | 0 | MembersOrStockholdersInd |
| Election Of Board Members | 0 | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | MN | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | KATE SEIFERT | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 4024582370 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 9855 W 78TH ST SUITE 012 | AddressLine1Txt |
| City | EDEN PRAIRIE | CityNm |
| State Abbreviation | MN | StateAbbreviationCd |
| ZIP | 553448016 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (11 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt |
|---|---|---|---|---|---|---|
| TAIGE THORNTON | ||||||
| PRESIDENT | 15.00 | Yes (X) | Yes (X) | $100,000 | $0 | $0 |
| CLYDE NELSON | ||||||
| DIRECTOR | 1.00 | Yes (X) | $27,500 | $0 | $0 | |
| JOHN EMERICK | ||||||
| BOARD CHAIR | 1.00 | Yes (X) | Yes (X) | $37,500 | $0 | $0 |
| TIM PENNY | ||||||
| DIRECTOR | 1.00 | Yes (X) | $20,500 | $0 | $0 | |
| ELIZABETH ANNE CARRIER DORAN | ||||||
| DIRECTOR | 1.00 | Yes (X) | $19,000 | $0 | $0 | |
| RICHARD HARRIS | ||||||
| DIRECTOR | 1.00 | Yes (X) | $27,500 | $0 | $0 | |
| DAVID REILING | ||||||
| DIRECTOR | 1.00 | Yes (X) | $17,000 | $0 | $0 | |
| RICHARD NIGON | ||||||
| DIRECTOR | 1.00 | Yes (X) | $19,000 | $0 | $0 | |
| MARY ROTHCHILD | ||||||
| DIRECTOR | 1.00 | Yes (X) | $27,500 | $0 | $0 | |
| CHARLES OSBORNE | ||||||
| CHIEF FINANCIAL OFFICER & TREASURER | 15.00 | Yes (X) | $86,159 | $0 | $0 | |
| SARAH DUNIWAY | ||||||
| SECRETARY | 3.00 | Yes (X) | $0 | $0 | $0 | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $381,659 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $0 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 0 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | 0 | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| NELNET INC | |||||
| 121 SOUTH 13TH ST WF SUITE 400 | LINCOLN | NE | 68508 | MANAGEMENT & ADMIN SERVICES | $2,375,036 |
| NELNET SERVICING LLC | |||||
| 121 SOUTH 13TH ST WF SUITE 400 | LINCOLN | NE | 68508 | STUDENT LOAN SERVICING | $824,343 |
| RBC CAPITAL MARKETS LLC | |||||
| 200 VERSEY STREET 8TH FLOOR | NEW YORK | NY | 10281 | BROKER/DEALER FEES | $285,245 |
| WINDHAM PROFESSIONALS INC | |||||
| 384 MAIN STREET | SALEM | NH | 03079 | PRIVATE LOAN COLLECTION SERVICES | $284,087 |
| US BANK TRUST | |||||
| 425 WALNUT ST | CINCINATTI | OH | 45202 | INDENTURE TRUSTEE FEES | $111,379 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 5 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | STUDENT LOAN INTEREST | Desc |
| Business | 525990 | BusinessCd |
| Total Revenue Column | $69,156,471 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $69,156,471 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $69,156,471 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $3,430,822 | TotalRevenueColumnAmt |
| Exclusion | $3,430,822 | ExclusionAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $72,587,293 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $69,156,471 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $3,430,822 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,671,075 | TotalAmt |
| Program Services | $4,671,075 | ProgramServicesAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $372,669 | TotalAmt |
| Management And General | $372,669 | ManagementAndGeneralAmt |
Fees For Services Management FeesForServicesManagementGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,039,379 | TotalAmt |
| Program Services | $685,219 | ProgramServicesAmt |
| Management And General | $2,354,160 | ManagementAndGeneralAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $128,712 | TotalAmt |
| Program Services | $77,807 | ProgramServicesAmt |
| Management And General | $50,905 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $110,774 | TotalAmt |
| Management And General | $110,774 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $361,801 | TotalAmt |
| Program Services | $179,924 | ProgramServicesAmt |
| Management And General | $181,877 | ManagementAndGeneralAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $8,469 | TotalAmt |
| Management And General | $8,469 | ManagementAndGeneralAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,218 | TotalAmt |
| Management And General | $2,218 | ManagementAndGeneralAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $55,816,146 | TotalAmt |
| Program Services | $55,816,146 | ProgramServicesAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,235,169 | TotalAmt |
| Program Services | $1,235,169 | ProgramServicesAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $66,051 | TotalAmt |
| Management And General | $66,051 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt |
|---|---|---|---|
| LOAN CONSOLIDATION FEES | $8,165,374 | $8,165,374 | |
| DEBT FINANCING FEES | $481,869 | $481,869 | |
| STUDENT LOAN DEFAULT AN | $432,857 | $432,857 | |
| OTHER MISCELLANEOUS EXP | $3,571 | $3,571 |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $74,896,134 | TotalAmt |
| Program Services | $71,745,440 | ProgramServicesAmt |
| Management And General | $3,150,694 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $11,204,813 | BOYAmt |
| EOY | $6,232,200 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $143,335,674 | BOYAmt |
| EOY | $99,578,589 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,300,012 | BOYAmt |
| EOY | $1,718,387 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $37,773 | BOYAmt |
| EOY | $33,278 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $9,234,750 | BOYAmt |
| EOY | $0 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,123,818,345 | BOYAmt |
| EOY | $901,899,701 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,537,352 | BOYAmt |
| EOY | $8,425,460 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,293,468,719 | BOYAmt |
| EOY | $1,017,887,615 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,024,309 | BOYAmt |
| EOY | $4,293,295 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,128,027,114 | BOYAmt |
| EOY | $854,662,122 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $178,387 | BOYAmt |
| EOY | $2,130 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,132,229,810 | BOYAmt |
| EOY | $858,957,547 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $161,238,909 | BOYAmt |
| EOY | $158,930,068 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $161,238,909 | BOYAmt |
| EOY | $158,930,068 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,293,468,719 | BOYAmt |
| EOY | $1,017,887,615 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | -$2,308,841 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | $0 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Consolidated Basis Fincl Stmt | Yes (X) | ConsolidatedBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Publicly Supported Org509a2 | Yes (X) | PubliclySupportedOrg509a2Ind |
Gross Receipts Admissions GrossReceiptsAdmissionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $90,443,751 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $61,828,549 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $37,214,145 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $39,682,064 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $69,156,471 | CurrentTaxYearAmt |
| Total | $298,324,980 | TotalAmt |
Total509 Total509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $90,443,751 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $61,828,549 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $37,214,145 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $39,682,064 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $69,156,471 | CurrentTaxYearAmt |
| Total | $298,324,980 | TotalAmt |
Amounts Rcvd Dsqlfy Person AmountsRcvdDsqlfyPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Substantial Contributors Amt SubstantialContributorsAmtGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Subst And Dsqlfy Prsns Tot SubstAndDsqlfyPrsnsTotGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Support Total509 | $298,324,980 | PublicSupportTotal509Amt |
Gross Investment Income509 GrossInvestmentIncome509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $1,793,896 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $1,000,588 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $355,132 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $495,713 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $3,430,822 | CurrentTaxYearAmt |
| Total | $7,076,151 | TotalAmt |
Investment Income And UBTI InvestmentIncomeAndUBTIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $1,793,896 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $1,000,588 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $355,132 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $495,713 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $3,430,822 | CurrentTaxYearAmt |
| Total | $7,076,151 | TotalAmt |
Total Support Calendar Year TotalSupportCalendarYearGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $92,237,647 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $62,829,137 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $37,569,277 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $40,177,777 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $72,587,293 | CurrentTaxYearAmt |
| Total | $305,401,131 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Support CY509 | 0.97680 | PublicSupportCY509Pct |
| Public Support PY509 | 0.98380 | PublicSupportPY509Pct |
| Investment Income CY | 0.02320 | InvestmentIncomeCYPct |
| Investment Income PY | 0.01620 | InvestmentIncomePYPct |
| Thirty Thr Pct Suprt Tests CY509 | Yes (X) | ThirtyThrPctSuprtTestsCY509Ind |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $0 | TotalBookValueLandBuildingsAmt |
Invst Program Related Org InvstProgramRelatedOrgGrp (2 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| STUDENT LOANS | $870,809,398 | C |
| INTEREST RECEIVABLE | $31,090,303 | C |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Program Rltd | $901,899,701 | TotalBookValueProgramRltdAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | ACCRUED BORROWER INCENTIVE PAYMENTS | Desc |
| Amt | $2,130 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $2,130 | TotalLiabilityAmt |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable (4 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Recipient EINRecipientEIN | IRC SectionIRCSectionDesc | Cash GrantCashGrantAmt | Non Cash AssistanceNonCashAssistanceAmt | Purpose Of GrantPurposeOfGrantTxt |
|---|---|---|---|---|---|---|---|---|
| WALLIN EDUCATION PARTNERS | ||||||||
| 5200 WILSON ROAD SUITE 209 | MINNEAPOLIS | MN | 55424 | 208505156 | 501(C)(3) | $3,197,142 | $0 | TO PROVIDE SCHOLARSHIPS TO STUDENTS AND SUPPORT WALLIN'S EXISTING SCHOLAR SUPPORT SERVICES THAT BENEFITS ALL SCHOLARS. |
| COLLEGE POSSIBLE | ||||||||
| 540 FAIRVIEW AVENUE NORTH SUITE 20 | SAINT PAUL | MN | 55104 | 411968798 | 501(C)(3) | $1,053,333 | $0 | TO PROVIDE AFTER-SCHOOL PROGRAMMING FOR HIGH-SCHOOL STUDENTS TO BETTER PREPARE THEM FOR ADMISSION TO COLLEGE. ADDITIONALLY, PROVIDE COACHES TO COLLEGE STUDENTS USING A STRUCTURED CURRICULUM FOCUSED ON THE ACADEMIC, FINANCIAL AND CULTURAL BARRIERS THAT HAVE BEEN IDENTIFIED AS BARRIERS TO COLLEGE SUCCESS FOR LOW-INCOME STUDENTS, WITH THE GOAL OF HELPING THEM SUCCEED AND GRADUATE FROM COLLEGE. |
| CRISTO REY JESUIT HIGH SCHOOL | ||||||||
| 2924 4TH AVENUE SOUTH | MINNEAPOLIS | MN | 55408 | 204548714 | 501(C)(3) | $200,000 | $0 | TO SUPPORT THE ORGANIZATION'S COLLEGE SUCCESS PROGRAM, WHICH COMBINES COLLEGE COUNSELING WITH POST-GRADUATION SUPPORT, SERVING AS A KEY RESOURCE FOR STUDENTS TO UNDERSTAND OPPORTUNITIES AVAILABLE TO THEM AFTER GRADUATION FROM HIGH SCHOOL. |
| PAGE EDUCATION FOUNDATION | ||||||||
| PO BOX 581254 | MINNEAPOLIS | MN | 55458 | 363605013 | 501(C)(3) | $220,600 | $0 | TO SUPPORT THE ORGANIZATION'S SCHOLARSHIP PROGRAM, WHICH PROVIDES SCHOLARSHIPS TARGETED AT STUDENTS FROM UNDERSERVED COMMUNITIES, COMBINING MENTORING AND COMMUNITY SERVICE WITH ITS SCHOLARSHIP PROGRAM TO SUPPORT AND ENCOURAGE ITS STUDENTS. |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 4 | Total501c3OrgCnt |
| Total Other Org | 0 | TotalOtherOrgCnt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 2: | FormAndLineReferenceDesc |
| Explanation | THE COMPANY'S BOARD OF DIRECTORS DESIGNATED GRANTS PROGRAM COMMITTEE REQUIRES PERIODIC REPORTS AND DATA FROM GRANTEES AND ADDITIONALLY CONDUCTS ON-SITE VISITS. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (6 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 2 | BUSINESS RELATIONSHIP BETWEEN CLYDE NELSON (BOARD MEMBER) AND MARY ROTHCHILD (BOARD MEMBER). |
| FORM 990, PART VI, SECTION A, LINE 3 | PURSUANT TO THE AMENDED AND RESTATED SUB-MASTER SERVICING AND ADMINISTRATIVE AGREEMENT ("SUB-MSA") DATED DECEMBER 3, 2018 (AND FIRST AMENDMENT DATED APRIL 1, 2020) BETWEEN NORTHSTAR EDUCATION FINANCE, INC. ("NEF") AND NELNET SERVICING, LLC ("NELNET"), NELNET IS RESPONSIBLE FOR PERFORMING CERTAIN MANAGEMENT AND ADMINISTRATIVE FUNCTIONS ON BEHALF OF NEF. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE FORM 990 WAS PREPARED BY INDEPENDENT ACCOUNTANTS FOR INTERNAL REVIEW. AFTER BEING REVIEWED BY THE ORGANIZATION'S OFFICERS AND OUTSIDE LEGAL COUNSEL, THE RETURN WAS THEN DISTRIBUTED TO THE FULL BOARD OF DIRECTORS FOR REVIEW AND APPROVAL PRIOR TO FILING WITH THE IRS. |
| FORM 990, PART VI, SECTION B, LINE 12C | THE POLICY IS MONITORED AND DISCUSSED ANNUALLY AT ONE OF THE QUARTERLY BOARD MEETINGS. ANY DIRECTOR, PRINCIPAL OFFICER, OR MEMBER OF A COMMITTEE WITH GOVERNING BOARD DELEGATED POWERS, WHO HAS A DIRECT OR INDIRECT FINANCIAL INTEREST, AS DEFINED BELOW, IS AN INTERESTED PERSON. A PERSON HAS A FINANCIAL INTEREST IF THE PERSON HAS, DIRECTLY OR INDIRECTLY, THROUGH BUSINESS, INVESTMENT, OR A FAMILY MEMBER: A. AN OWNERSHIP OR INVESTMENT INTEREST IN ANY ENTITY (INCLUDING ANY JOINT VENTURE OR SIMILAR ARRANGEMENT) WITH WHICH NEF HAS A TRANSACTION OR ARRANGEMENT, B. A COMPENSATION ARRANGEMENT WITH NEF OR WITH ANY ENTITY OR INDIVIDUAL WITH WHICH NEF HAS A TRANSACTION OR ARRANGEMENT, C. A POTENTIAL OWNERSHIP OR INVESTMENT INTEREST IN, OR COMPENSATION ARRANGEMENT WITH, ANY ENTITY OR INDIVIDUAL WITH WHICH NEF IS NEGOTIATING A TRANSACTION OR ARRANGEMENT, OR D. SERVES AS AN OFFICER OR DIRECTOR ANY ENTITY WITH WHICH NEF HAS A TRANSACTION OR ARRANGEMENT (REGARDLESS OF WHETHER THE INDIVIDUAL RECEIVES COMPENSATION FROM THE ENTITY). A FINANCIAL INTEREST IS NOT NECESSARILY A CONFLICT OF INTEREST. AN INTERESTED PERSON WHO HAS A FINANCIAL INTEREST MAY HAVE A CONFLICT OF INTEREST ONLY IF THE AUDIT COMMITTEE DECIDES THAT A CONFLICT OF INTEREST EXISTS. IN CONNECTION WITH ANY ACTUAL OR POSSIBLE CONFLICT OF INTEREST, AN INTERESTED PERSON MUST DISCLOSE THE EXISTENCE OF THE FINANCIAL INTEREST AND BE GIVEN THE OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO THE NEF AUDIT COMMITTEE. AFTER DISCLOSURE OF THE FINANCIAL INTEREST AND ALL MATERIAL FACTS, AND AFTER ANY DISCUSSION WITH THE INTERESTED PERSON, HE/SHE SHALL NOT PARTICIPATE IN DISCUSSIONS WITH THE AUDIT COMMITTEE WHILE THE DETERMINATION OF A CONFLICT OF INTEREST IS DISCUSSED AND VOTED UPON. AN INTERESTED PERSON WHO SERVES AS AN OFFICER, DIRECTOR OR EMPLOYEE OF NELNET, INC. (OR ANY OF ITS SUBSIDIARIES INCLUDING BUT NOT LIMITED TO NELNET SERVICING, LLC)("NELNET"), WHICH PROVIDES MANAGEMENT SERVICES TO NEF PURSUANT TO A SUB-MASTER AND SUB-ADMINISTRATION AGREEMENT (THE "NELNET AGREEMENT"), SHALL BE CONSIDERED TO HAVE A CONFLICT OF INTEREST WITH RESPECT TO THE FOLLOWING MATTERS REGARDING NELNET: (A) REVIEW AND APPROVAL OF COMPENSATION OR EXPENSE REIMBURSEMENT UNDER THE NELNET AGREEMENT, (B) DECISIONS WHETHER TO RENEW, TERMINATE OR AMEND THE NELNET AGREEMENT, OR (C) FORMAL REVIEWS OF NELNET'S PERFORMANCE UNDER THE NELNET AGREEMENT. SUCH INTERESTED PERSONS SHALL NOT NORMALLY BE CONSIDERED TO HAVE A CONFLICT OF INTEREST WITH RESPECT TO ROUTINE MATTERS THAT COME BEFORE THE NEF BOARD OR COMMITTEE, EVEN IF SUCH MATTERS INVOLVE PRESENTATIONS BY AND CONSIDERATION OF, REPORTS AND INFORMATION FROM, NELNET, UNLESS THE AUDIT COMMITTEE DETERMINES THAT A CONFLICT OF INTEREST EXISTS. AN INTERESTED PERSON MAY MAKE A PRESENTATION AT THE BOARD OR COMMITTEE MEETING AT WHICH THE TRANSACTION OR ARRANGEMENT IS BEING CONSIDERED, BUT AFTER THE PRESENTATION, HE/SHE SHALL NOT PARTICIPATE DURING THE DISCUSSION OF, AND THE VOTE ON, THE TRANSACTION OR ARRANGEMENT INVOLVING THE POSSIBLE CONFLICT OF INTEREST. THE CHAIRPERSON OF THE BOARD OR COMMITTEE SHALL, IF APPROPRIATE, APPOINT A DISINTERESTED PERSON OR COMMITTEE TO INVESTIGATE ALTERNATIVES TO THE PROPOSED TRANSACTION OR ARRANGEMENT. AFTER EXERCISING DUE DILIGENCE, THE BOARD OR COMMITTEE SHALL DETERMINE WHETHER NEF CAN OBTAIN WITH REASONABLE EFFORTS A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT FROM A PERSON OR ENTITY THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST. IF A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT IS NOT REASONABLY POSSIBLE UNDER CIRCUMSTANCES NOT PRODUCING A CONFLICT OF INTEREST, THE BOARD OR COMMITTEE SHALL DETERMINE BY A MAJORITY VOTE OF THE DISINTERESTED MEMBERS OF THE COMMITTEE WHETHER THE TRANSACTION OR ARRANGEMENT IS IN NEF'S BEST INTEREST, FOR ITS OWN BENEFIT, AND WHETHER IT IS FAIR AND REASONABLE. IN CONFORMITY WITH THE ABOVE DETERMINATION THE BOARD OF DIRECTORS OF NEF SHALL MAKE ITS DECISION AS TO WHETHER TO ENTER INTO THE TRANSACTION OR ARRANGEMENT. |
| FORM 990, PART VI, SECTION B, LINE 15 | IN 2021, COMPENSATION FOR THE ORGANIZATION'S PRESIDENT AND BOARD OF DIRECTORS WAS APPROVED BY THE BOARD'S INDEPENDENT COMPENSATION COMMITTEE AND WAS BASED ON COMPARABLE MARKET COMPENSATION DATA. |
| FORM 990, PART VI, SECTION C, LINE 19 | AUDITED FINANCIAL STATEMENTS ARE AVAILABLE ON THE ORGANIZATION'S WEBSITE AT WWW.NORTHSTAR.ORG. THE ORGANIZATION DOES NOT MAKE ITS GOVERNING DOCUMENTS OR CONFLICT OF INTEREST POLICY AVAILABLE UNLESS REQUIRED BY LAW. |
Schedule R IRS990ScheduleR
Id Disregarded Entities IdDisregardedEntitiesGrp
Disregarded Entity Name DisregardedEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | NORTHSTAR EDUCATION FUNDING I LLC | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 9855 W 78TH ST SUITE 012 | AddressLine1Txt |
| City | EDEN PRAIRIE | CityNm |
| State Abbreviation | MN | StateAbbreviationCd |
| ZIP | 553448016 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Primary Activities | FINANCING HIGHER EDUCATION | PrimaryActivitiesTxt |
| Legal Domicile State | DE | LegalDomicileStateCd |
| Total Income | $0 | TotalIncomeAmt |
| End Of Year Assets | $0 | EndOfYearAssetsAmt |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | NORTHSTAR EDUCATION FINANCE INC | BusinessNameLine1Txt |
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