2019-02-15T10:42:39-06:00 2018-09-30 010494526 Baker Newman & Noyes LLC PO Box 507 Portland ME 04112 990 2017-10-01 020368776 New Hampshire Higher Education Loan Corporation NHHI 6032265829 4 Barrell Court PO Box 2111 Concord NH 03302 Christiana Thornton President & CEO 6032265829 2019-02-12 1 Nicolas E Porto P01310283 2078792100 2019-02-12 208.105.168.164 2019-02-12 11:54:53 ES P 89E582745F398AB9123794375B037D04AD0E63E3 86AD5A998A217BD7885303F5109AB5202568ED7D 2017 2019-02-21 02:37:17Z Christiana Thornton 4 Barrell Court PO Box 2111 Concord NH 03302 66215303 0 X www.nhhelco.org X 1983 NH Financial assistance to eligible borrowers 5 5 0 7 0 0 0 0 39520425 45713273 1117364 2425746 0 0 40637789 48139019 0 0 0 0 20000 20000 0 0 0 37528859 43815663 37548859 43835663 3088930 4303356 665247990 693191534 448241776 472092921 217006214 221098613 Financial assistance to eligible borrowers 0 0 41468781 45713273 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. 41468781 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 5 0 1 0 0 0 0 0 0 0 0 0 0 0 X 5 5 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 NH X Dean Grondin 6032255867 4 Barrell Court Concord NH 033022111 Peter Burger Trustee 0.20 0.00 X 0 0 0 Susan Howard Trustee 0.20 0.00 X 0 0 0 Tim Sink Trustee 0.20 0.00 X 0 0 0 Christiana Thornton Trustee (end 9/18) 0.20 0.00 X 0 0 0 Daniel Dubreuil Chairman 0.20 0.00 X X 0 0 0 Linda Normandin Vice Chair/Treasurer/Secretary 0.20 0.00 X X 0 0 0 Harvey D Hill Secretary (end 5/18) 0.20 0.00 X X 0 0 0 Rene A Drouin President & CEO 18.00 22.00 X 0 723457 88663 Dean Grondin Vice President & CFO 10.00 30.00 X 0 225928 18317 0 949385 106980 0 0 1 0 Granite State Mgmt & Res 4 Barrell Court PO Box 2087 Concord NH 03302 Management and Loan Servicing 6590893 Credible Labs Inc 101 Green Street 2nd Floor San Francisco CA 94111 Loan Processing 1197002 Campus Door Holdings Inc 1415 Ritner Highway Carlisle PA 17013 Loan Processing 506907 Hinckley Allen Snyder LLP 650 Elm Street Suite 500 Manchester NH 03101 Legal Services 122185 Hilltop Securities 1201 Elm Street Suite 3500 Dallas TX 75270 Financial Advisor 111345 5 Interest student loans 525990 30872461 30872461 DL Service Fee Revenue 525990 13017046 13017046 Late charges & other 525990 953643 953643 Federal Interest Benefit 525990 870123 870123 45713273 1753441 1753441 18748589 18076284 672305 672305 672305 48139019 45713273 0 2425746 X 20000 20000 135966 135966 47922 47922 150518 150518 19924127 17911651 2012476 33834 33834 25950 25950 16565185 16565185 Consolidation Loan Fee 2711662 2711662 Student Loan Allowance 1433529 1433529 Provision for Loan Loss 1246733 1246733 Bond Administration Exp 215797 215797 1324440 1324440 43835663 41468781 2366882 0 17806593 17152365 1188721 2628134 593160367 618873579 3639813 3211705 31224194 42345548 17514370 8303084 713932 677119 665247990 693191534 1360369 1421683 443289466 465773493 3591941 4897745 448241776 472092921 X 217006214 221098613 217006214 221098613 665247990 693191534 4303356 -210957 0 X 0 1 X 1 1 1 X 41607079 39619797 37101649 39520425 45713273 203562223 41607079 39619797 37101649 39520425 45713273 203562223 0 0 0 203562223 1048279 895868 963273 1170315 1753441 5831176 1048279 895868 963273 1170315 1753441 5831176 42655358 40515665 38064922 40690740 47466714 209393399 0.97220 0.97600 0.02780 0.02400 X 0 0 0 0 0 1 3032 0 0 0 3032 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 $30,319, of which $3,032 was available for lobbying. 0 Accrued interest payable 1485239 Fees payable to U.S. government 367311 Due to related entities 3045195 4897745 X 46494533 -210957 -210957 46705490 1433529 1433529 48139019 42402134 0 42402134 1433529 1433529 43835663 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, 2018 or 2017. Part XI, Line 4b - Other Adjustments: Student loan allowances 1,433,529. Part XII, Line 4b - Other Adjustments: Student loan allowances 1,433,529. 0 1 0 0 0 0 0 0 0 Rene A Drouin President & CEO 0 362306 0 150000 0 211151 54747 10792 0 23124 54747 757373 0 0 Dean Grondin Vice President & CFO 0 209996 0 7200 0 8732 0 8354 0 9963 0 244245 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, an independent compensation consultant, 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 2017, a tax-deferred contribution of $20,000 was made into his plan. The total amount of $54,747 reported on Form 990, Part VII-A, Column F and Schedule J, Part II, Column C includes this $20,000 contribution and the $34,747 actuarial change in value. Granite State Management & Resources, a related organization, made a distribution from its supplemental nonqualified retirement Executive Option Plan to Rene Drouin during 2017 in the amount of $168,013. This amount is included in Form 990, Part VII-A, Column E and Schedule J, Part II, Column B(iii) as part of taxable W-2 wages, and represents compensation in recognition of many years of service to the filing and related organizations. 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 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 17,911,651. Management and general expenses 2,012,476. Fundraising expenses 0. Total expenses 19,924,127. EDvestinU Private Education Loan Issue No 1 LLC c/o NHHELCO 4 Barrell Court Concord NH 03301 475156259 Purchase private student loans NH 6964307 125363538 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 Granite Business Solutions Inc 4 Barrell Court PO Box 2087 Concord NH 033022087 812329622 Call Service Center NH N/A C 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 0 0 0