2018-11-14T16:56:45-06:00 2017-12-31 ERNST & YOUNG US LLP 155 N Wacker Drive Chicago IL 60606 990 2017-01-01 411689095 NORTHSTAR GUARANTEE INC % HOPE MERRY NORT 6082461744 2401 International Lane Madison WI 53704 RICHARD D GEORGE President & CEO 6082461408 2018-11-14 Jacob Zehnder P01564049 3128792000 164.57.159.254 36964520183185000065 2018-11-14 P E1B97F0B523BF91F5EE03E781B24D2D618402045 34163F381DEDE5EE0CABDD6E8F3BD042227F3C04 2017 2019-02-21 02:37:17Z Richard D George 2401 International Lane Madison WI 53704 3336977 false X www.mygreatlakes.org X 1990 MN NORTHSTAR'S EXEMPT LENDING ROLE IS MAKING AND/OR HOLDING STUDENT LOANS TO POSTSECONDARY EDUCATION STUDENTS AND THEIR PARENTS IN ACCORDANCE WITH FEDERAL FAMILY EDUCATION LOAN PROGRAM 7 6 0 0 0 0 0 2906282 2997806 90938 339171 0 0 2997220 3336977 0 0 0 0 37883 29107 0 0 0 1246482 883376 1284365 912483 1712855 2424494 130316793 132432017 118769931 118651384 11546862 13780633 X NORTHSTAR GUARANTEE INC.'S MISSION IS TO FOSTER, AID, ENCOURAGE AND ASSIST IN THE PURSUIT OF HIGHER EDUCATION. IN PARTICULAR, THE CORPORATION FACILITATES THE BROADER AVAILABILITY OF EDUCATIONAL LOANS TO STUDENTS BY, BUT NOT LIMITED TO, ACTING AS A LENDER OR AN ELIGIBLE LENDER (AS PROVIDED UNDER THE FEDERAL HIGHER EDUCATION ACT OF 1965, AS AMENDED) FOR SUCH LOANS. THIS MISSION STATEMENT HAS BEEN REVIEWED, ACKNOWLEDGED AND INFORMALLY APPROVED BY THE BOARD. false false 819753 2997806 Making and/or holding of student loans to postsecondary education students and to their parents in accordance with the Federal Family Education Loan Program established by Title IV, Part B of the Federal Higher Education Act of 1965, as amended. 819753 true false false false false false false false false false false false false true true false false true false false false false false false false false false false false true false false false false false false false true false false false false false true true true false false true 7 0 0 false false false false false false false false false false X 7 6 false false false false true true true true true false false true true true true true true false false false MN X HOPE MERRY 6087332584 2401 INTERNATIONAL LANE Madison WI 53704 X David J Hanson 1 Director/Secretary 1.0 4.0 X 0 0 0 Linda Hoeschler 1 Director 1.0 2.0 X 6900 13800 0 Alex J Pollock 1 Director 1.0 2.0 X 6267 12533 0 Richard A Weiss 1 Director 1.0 4.0 X 4900 19600 0 Joan Prince 1 Director 1.0 2.0 X 6900 13800 0 Richard D George 23 Chairman/PRES/CEO/Treasurer 1.0 59.0 X X 0 1012027 57931 Mary Burke 1 Director 1.0 4.0 X 4140 16560 0 Rebecca Rapp 3 General Counsel/Asst Secretary 1.0 49.0 X 0 256687 51495 29107 1345007 109426 0 false true false NONE 0 0 LOAN INTEREST INCOME 900099 2997806 2997806 2997806 339171 339171 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 3336977 2997806 339171 0 0 0 0 29107 29107 0 0 0 0 0 0 4140 4140 6674 6674 0 0 0 0 0 21883 21883 0 0 0 4436 4436 0 0 0 0 0 0 CONSOLIDATED INT. REBATE FEE 603574 603574 SERVICING FEES 134296 134296 PROVISION - LENDER LOAN LOSS 60000 60000 CORPORATE SUPPORT 48000 48000 373 373 912483 819753 92730 0 X 530 810 47427000 38348491 0 0 0 3035625 0 0 0 0 0 0 0 0 0 0 0 0 0 20990038 0 0 0 0 0 0 82889263 70057053 130316793 132432017 6025 6200 0 0 0 0 0 0 0 0 0 0 0 0 0 0 118763906 118645184 118769931 118651384 X 11546862 13780633 0 0 0 0 11546862 13780633 130316793 132432017 2424494 -190723 X false true X true X 0 0 0 0 0 0 3106367 2680888 2350084 2906282 2997806 14041427 0 0 0 3106367 2680888 2350084 2906282 2997806 14041427 0 0 0 0 0 0 0 0 0 0 0 14041427 20086 25615 54482 90938 339171 530292 0 20086 25615 54482 90938 339171 530292 0 0 3126453 2706503 2404566 2997220 3336977 14571719 0.96361 0.98686 0.03639 0.01314 X STUDENT LOANS RECEIVABLE 66715668 INTEREST RECEIVABLE 2742767 DUE FROM SERVICER 598618 70057053 0 LENDER FUNDING CONTRIBUTION TR 118419274 INTEREST PAYABLE 157004 CONSOLIDATED LOAN FEE PAYABLE 47368 INTERCOMPANY PAYABLE 11203 SERVICING FEES PAYABLE 10335 118645184 SUPPLEMENTAL INFORMATION Other liabilities-$118,419,274 Lender Funding Contribution Transfer Northstar Guarantee Inc.'s exempt lending role was utilized beginning in December 2008 through the making and/or holding of student loans to postsecondary education students and to their parents in accordance with the Federal Family Education Loan Program established by Title IV, Part B of the Federal Higher Education Act of 1965, as amended. The $118,419,274 represents the 2008-2010 Lender Funding Contribution Transfer from Great Lakes Higher Education Corporation (Related Entity). X false true false false false false false false false Richard D George 23 Chairman/PRES/CEO/Treasurer 0 310643 0 515585 0 185799 0 32400 0 25531 0 1069958 0 0 Rebecca Rapp 3 General Counsel/Asst Secretary 0 125828 0 130585 0 274 0 28672 0 22823 0 308182 0 0 FORM 990, SCHEDULE J, PART I, LINE 1A RICHARD D. GEORGE, CHIEF EXECUTIVE OFFICER, RECEIVED A TAX GROSS-UP IN 2017, FOR ONE OF THREE YEARS TO OFFSET TAX LIABILITIES ASSOCIATED WITH THE VESTING OF AN OPTION IT AWARD MADE IN 2004 THAT WAS ORIGINALLY INTENDED TO VEST POST RETIREMENT. THE BOARD OF DIRECTORS HAS REQUESTED THAT THE CEO DELAY RETIREMENT AND HAS OFFERED THIS TAX GROSS UP AS AN INVESTMENT TOWARDS THAT END. FORM 990, SCHEDULE J, PART I, LINE 4B RICHARD D. GEORGE, CHIEF EXECUTIVE OFFICER, PARTICIPATED IN A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN. THERE WERE NO NEW PAYMENTS INTO THE PLAN. THE SUPPLEMENTAL NONQUALIFIED PLAN (OPTIONIT PLAN) WAS IN EFFECT FOR FOUR YEARS (1998-2001), AWARDED IN EACH OF THE SUBSEQUENT YEARS (1999-2002) AND WAS OFFERED BY THE EMPLOYER TO MANAGEMENT AND STAFF FOR RETENTION PURPOSES. PER THE TERMS OF THE PLAN, WITHDRAWALS ARE REQUIRED NO LATER THAN FIFTEEN YEARS AFTER THE INITIAL AWARD DATE. THE PAYMENT FROM THE PLAN IN 2017 WAS $182,135. THE PLAN CLOSED IN 2017. GREAT LAKES EDUCTNL LOAN SVCSINC CONTROL ENT/OFFICER OVERLAP 134145 SERVICING FEES PAID TO GLELSI false GREAT LAKES EDUCTNL LOAN SVCSINC CONTROL ENT/OFFICER OVERLAP 2103 INTERCOMPANY REIMB. TO GLELSI false Description of Transactions: Great Lakes Educational Loan Services,Inc. is a for-profit subsidiary of Great Lakes Higher Education Corporation. Richard D. George serves as the Chairman and Treasurer, and the President and CEO of Northstar Guarantee Inc. He also serves as the Chairman of Great Lakes Educational Loan Services, Inc. PART VI, QUESTION 6 AND 7A Great Lakes Higher Education Corporation, a nonprofit 501(c)(3) corporation, is the sole member of Northstar Guarantee Inc. and has the authority to appoint the Northstar Guarantee Inc. board. PART VI, QUESTION 7B Great Lakes Higher Education Corporation, a nonprofit 501(c)(3) corporation, as sole member of Northstar Guarantee Inc., has the authority provided by Wis. Stats. Chapter 181 to approve certain actions related to merger, conversion, sale of assets and dissolution. PART VI, QUESTION 11B On an annual basis, the Chairman of the Board, President and CEO, the audit committee and board review the Form 990 prior to filing. The conflicts of interest questionnaires are completed by each Director and reviewed prior to filing the Form 990. PART VI, QUESTION 12C Annually, Directors and Officers sign a Conflict of Interest document which discloses any conflicts. The signed documents are reviewed annually by the Chairman of the Board. If a disclosed conflict occurs, the individual abstains from discussion and voting on topics where a conflict of interest exists. All Directors, Officers and Employees are subject to the Human Resources Code of Ethics to maintain the highest ethical and legal standards of business conduct. PART VI, QUESTION 19 Availability of governing documents, conflict of interest policy, and financial statements to general public; federal tax law does not require that such documents be made publicly available. Documents are available upon specific request. PART VII, SECTION A, Line 1a (1) Directors normally attend 3-4 board meetings and 3-4 committee meetings per year in addition to telephonic conferences and individual meetings with officers. Directors devote an average of 1 hour per week to their position(s). (2) Inside directors are not eligible for Board compensation. (3) Non-operating officer position not separately compensated. Part VI, Section B, Line 15a & 15b Northstar Guarantee Inc. does not compensate the CEO, Executive Director, any top management officials, or key employees, as the compensation is from a related organization. Great Lakes Higher Education Corporation 2401 International Lane Madison WI 53704 391090394 stdnt ln svcs WI 501(c)(3) 12B Type II NA false Great Lakes Higher Educ Guaranty Corp 2401 International Lane Madison WI 53704 391853833 gty stdnt lns WI 501(c)(3) 10 GLHEC true United Student Aid Funds Inc 2401 International Lane Madison WI 53704 946050341 gty stdnt lns DE 501 (C)(3) 10 GLHEC true Northwest Education Loan Association 2401 International Lane Madison WI 53704 911068278 stdnt loans WA 501 (C)(3) 10 USAF true Great Lakes Educational Loan Svcs Inc 2401 International Lane Madison WI 53704 391864035 Student Loan WI NA C corp 0 0 true false false false false false false false false false false false false true false false true false false false Great Lakes Educational Loan Services Inc M 134145 Actual Cost