2020-02-18T09:48:27-06:00 2019-09-30 010494526 Baker Newman & Noyes LLC PO Box 507 Portland ME 04112 990 2018-10-01 020368776 New Hampshire Higher Education Loan Corporation NHHI 6032265829 4 Barrell Court PO Box 2111 Concord NH 03302 Christiana Thornton President & CEO 6032265829 2020-02-18 1 Nicolas E Porto P01310283 2078792100 2020-02-18 208.105.168.164 2020-02-18 10:22:39 ES P 4950B0318DE8D55CD0245DC492FF2601D954F5E9 DA1D1F22D002DE74304CAE64996AD19EA354FE22 2018 2020-11-06 18:47:13Z Christiana Thornton 4 Barrell Court PO Box 2111 Concord NH 03302 59900056 0 X www.nhhelco.org X 1983 NH Financial assistance to eligible borrowers 8 8 0 8 0 0 0 0 45713273 53630528 2425746 1143766 0 0 48139019 54774294 0 0 0 0 20000 25592 0 0 0 43815663 53555778 43835663 53581370 4303356 1192924 693191534 772977645 472092921 549935098 221098613 223042547 Financial assistance to eligible borrowers 0 0 52699992 53630528 The Corporation was organized for the charitable and educational purpose of providing low-cost financial assistance primarily to eligible students attending college in New Hampshire or residents attending college out of state. 52699992 1 0 0 1 0 0 0 0 0 0 0 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 337 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 8 8 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 NH X Linda Crump 6032255867 4 Barrell Court Concord NH 033022111 Peter Burger Trustee 0.20 X 0 0 0 Gordon Koff Trustee (start 2/19) 0.20 X 0 0 0 Chuck Lloyd Trustee (start 2/19) 0.20 X 0 0 0 Tim Sink Trustee 0.20 X 0 0 0 Steve Webb Trustee (start 2/19) 0.20 X 0 0 0 Daniel Dubreuil Chairman 0.20 X X 0 0 0 Linda Normandin Vice Chair/Treasurer 0.20 X X 0 0 0 Susan Howard Secretary 0.20 X X 0 0 0 Rene A Drouin President & CEO (end 10/18) 10.00 30.00 X 0 702503 51453 Christiana Thornton President & CEO 10.00 30.00 X 0 66923 0 Dean Grondin Vice President & CFO 10.00 30.00 X 0 233259 18472 0 1002685 69925 0 0 1 0 Granite State Mgmt & Res 4 Barrell Court PO Box 2087 Concord NH 03302 Management and Loan Servicing 6443737 Credible Labs Inc 101 Green Street 2nd Floor San Francisco CA 94111 Loan Processing 1441104 Campus Door Holdings Inc 1415 Ritner Highway Carlisle PA 17013 Loan Processing 791860 DBRS Inc 140 Broadway 43rd Floor New York NY 10005 Rating Agency 104773 4 Interest student loans 522291 35406040 35406040 DL Service Fee Revenue 522291 16683460 16683460 Late charges & other 522291 878918 878918 Federal Interest Benefit 522291 662110 662110 53630528 1956644 1956644 4312884 5125762 -812878 -812878 -812878 54774294 53630528 0 1143766 X 25592 25592 242326 242326 50063 50063 29120 29120 148587 148587 24024201 23609391 414810 41001 41001 31010 31010 21903645 21903645 Loss On Swap Terminatio 2551550 2551550 Consolidation Loan Fee 2433711 2433711 Provision for Loan Loss 592858 592858 Bond Administration Exp 153297 153297 1354409 1354409 53581370 52699992 881378 0 17152365 20987915 2628134 1734658 618873579 697814641 3211705 42345548 42486248 8303084 8730329 677119 1223854 693191534 772977645 1421683 380870 465773493 545681693 4897745 3872535 472092921 549935098 X 221098613 223042547 221098613 223042547 693191534 772977645 1192924 751010 0 X 0 1 X 1 1 1 X 39619797 37101649 39520425 45713273 53630528 215585672 39619797 37101649 39520425 45713273 53630528 215585672 0 0 0 215585672 895868 963273 1170315 1753441 1956644 6739541 895868 963273 1170315 1753441 1956644 6739541 40515665 38064922 40690740 47466714 55587172 222325213 0.96970 0.97220 0.03030 0.02780 X 0 0 0 0 0 1 31945 0 0 0 31945 0 Part II-B, Line 1: A portion of dues paid to the Education Finance Council were available for lobbying. For the filing period, total dues paid were $35,319, of which $2,825 was available for lobbying. Additionally, the Organization paid $29,120 to Thompson & Coburn, a K Street Washington, DC law firm, in part for services related to lobbying activities and information on pending legislation that may impact the Organization. 0 Accrued interest payable 1303723 Fees payable to U.S. government 288970 Due to related entities 2279842 3872535 X 55576191 751010 751010 54825181 148587 -199474 -50887 54774294 53632257 0 53632257 148587 -199474 -50887 53581370 Part X, Line 2: The Company has received a determination letter from the Internal Revenue Service stating that it qualifies for tax-exempt status under Section 501(c)(3) of the Internal Revenue Code. Accordingly, no provision for income taxes has been included in the financial statements. Tax-exempt organizations could be required to record an obligation for income taxes as the result of a tax position they have historically taken on various tax exposure items including unrelated business income or tax status. Under guidance issued by the Financial Accounting Standards Board (FASB), assets and liabilities are established for uncertain tax positions taken or positions expected to be taken in income tax returns when such positions are judged to not meet the "more-likely-than-not" threshold, based upon the technical merits of the position. Estimated interest and penalties, if applicable, related to uncertain tax positions are included as a component of income tax expense. The Company has evaluated the positions taken on its filed tax returns. The Company has concluded no uncertain income tax positions exist at September 30, 2019 or 2018. Part XI, Line 4b - Other Adjustments: Student loan allowances -199,474. Part XII, Line 4b - Other Adjustments: Student loan allowances -199,474. 0 1 0 0 0 0 0 0 0 Rene A Drouin President & CEO (end 10/18) 0 379699 0 293147 0 29657 15000 14899 0 21554 15000 738956 0 0 Dean Grondin Vice President & CFO 0 213409 0 19160 0 690 0 9045 0 9427 0 251731 0 0 Part I, Line 3 The Organization's officers are compensated through a related organization, Granite State Management & Resources; that organization used a compensation committee, Form 990 of other organizations, a compensation study, and board/compensation committee approval to establish the officers' compensation. Part I, Line 4b New Hampshire Higher Education Loan Corporation maintains a 457(f) nonqualified deferred compensation plan for the benefit of Rene Drouin. In 2018, a tax-deferred contribution of $15,000 was made into his plan. Form 990, Part VI, Section A, line 3 The organization contracts with Granite State Management & Resources, a related entity, for its management services. Form 990, Part VI, Section B, line 11b A copy of the Form 990 was emailed to the board before filing. Board members had the opportunity to review the form and ask for questions and clarifications. Form 990, Part VI, Section B, line 12c Any conflicts of interest revealed in the annual survey or at any time throughout the year are addressed promptly and appropriately. Form 990, Part VI, Section B, line 15 An on-going internal review of salaries is conducted by Human Resources Management of GSMR using salary surveys from local and national resources to compare salaries for positions in the organization to local market data. The compensation structure is adjusted based on the results of these reviews. An independent consultant completed the Affirmative Action Plan, which included a review of salary and hiring practices to ensure nondiscrimination. The Organization's internal review of market data for staff and executive salaries includes executive salaries for organizations of comparable size, structure, operations and asset composition to GSM&R. This review also is evaluated by an independent consultant on a periodic basis. Based on this comparative market data, the Chairman of the Board of GSMR and the Chairman of its Compensation Committee review the proposed CEO and other senior officer compensation packages for reasonableness and fairness. Form 990, Part VI, Section C, line 19 The organization will make its governing documents, conflict of interest policy, and financial statements available to the public upon request. Form 990, Part IX, line 11g Servicing Fees: Program service expenses 23,609,391. Management and general expenses 414,810. Fundraising expenses 0. Total expenses 24,024,201. EDvestinU Private Education Loan Issue No 1 LLC c/o NHHELCO 4 Barrell Court Concord NH 03301 475156259 Purchase private student loans NH 6673810 105712881 New Hampshire Higher Education Loan Corporation EdvestinU Private Education Loan Issue No 2 LLC c/o NHHELCO 4 Barrell Court Concord NH 03301 832287656 Purchase private student loans DE 6140399 213451610 New Hampshire Higher Education Loan Corporation Granite State Management and Resources 4 Barrell Court Concord NH 033022087 020404239 Administrator/servicer of student loans NH 501(c)(3) Line 10 N/A 0 New Hampshire Higher Education Assistance Foundation 4 Barrell Court Concord NH 033020877 026007687 Student loan guarantor NH 501(c)(3) Line 10 N/A 0 NHHEAF Network Education Foundation 4 Barrell Court Concord NH 033022111 300289044 Grants and scholarships NH 501(c)(3) PF New Hampshire Higher Education Loan Corporation 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 0 0 0