GRANITE EDVANCE CORPORATION: Form 990, tax year 2016

View the entire original 990 at ProPublica ↗

Organization
GRANITE EDVANCE CORPORATION (EIN 02-0368776)
Tax period
2016-10-01 to 2017-09-30
Filed
2018-02-15
IRS object ID
201800469349300515
Schema version
2016v3.0
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

FieldValueIRS element (for citing)
Return2018-02-15T07:55:20-06:00ReturnTs
Tax Period End2017-09-30TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN010494526PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1Baker Newman & Noyes LLCBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1PO Box 507AddressLine1Txt
CityPortlandCityNm
State AbbreviationMEStateAbbreviationCd
ZIP04112ZIPCd
FieldValueIRS element (for citing)
Return Type990ReturnTypeCd
Tax Period Begin2016-10-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN020368776EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1New Hampshire Higher EducationBusinessNameLine1Txt
Business Name Line2Loan CorporationBusinessNameLine2Txt
FieldValueIRS element (for citing)
Business Name ControlNHHIBusinessNameControlTxt
Phone6032265829PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line14 Barrell Court PO Box 2111AddressLine1Txt
CityConcordCityNm
State AbbreviationNHStateAbbreviationCd
ZIP03302ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonRene A DrouinPersonNm
Person TitlePresident & CEOPersonTitleTxt
Phone6032265829PhoneNum
Signature2018-02-13SignatureDt
Discuss With Paid PreparerYes (1)DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonNicholas E PortoPreparerPersonNm
PTINP01310283PTIN
Phone2078792100PhoneNum
Preparation2018-02-07PreparationDt

Filing Security Information FilingSecurityInformation

IP Address IPAddress

FieldValueIRS element (for citing)
I Pv4 Address208.105.168.164IPv4AddressTxt
FieldValueIRS element (for citing)
IP2018-02-13IPDt
IP Tm08:24:49IPTm
IP TimezoneESIPTimezoneCd
Filing License TypePFilingLicenseTypeCd
At Submission Creation Device IdCCFCCF25870C8311BDDC6739800371DE19EE9571AtSubmissionCreationDeviceId
At Submission Filing Device Id2CC4C4610C7CE537855CCDE76D04A8640C960E3EAtSubmissionFilingDeviceId
FieldValueIRS element (for citing)
Tax2016TaxYr
Build TS2021-01-29 14:40:06ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Principal OfficerRene A DrouinPrincipalOfficerNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line14 Barrell Court PO Box 2111AddressLine1Txt
CityConcordCityNm
State AbbreviationNHStateAbbreviationCd
ZIP03302ZIPCd
FieldValueIRS element (for citing)
Gross Receipts$63,183,679GrossReceiptsAmt
Group Return For Affiliates0GroupReturnForAffiliatesInd
Organization501c3Yes (X)Organization501c3Ind
Website Addresswww.nhhelco.orgWebsiteAddressTxt
Type Of Organization CorpYes (X)TypeOfOrganizationCorpInd
Formation1983FormationYr
Legal Domicile StateNHLegalDomicileStateCd
Activity Or MissionFinancial assistance to eligible borrowersActivityOrMissionDesc
Voting Members Governing Body7VotingMembersGoverningBodyCnt
Voting Members Independent7VotingMembersIndependentCnt
Total Employee0TotalEmployeeCnt
Total Volunteers7TotalVolunteersCnt
Total Gross UBI$0TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm$0NetUnrelatedBusTxblIncmAmt
PY Contributions Grants$0PYContributionsGrantsAmt
CY Contributions Grants$0CYContributionsGrantsAmt
PY Program Service Revenue$37,101,649PYProgramServiceRevenueAmt
CY Program Service Revenue$39,520,425CYProgramServiceRevenueAmt
PY Investment Income$1,199,712PYInvestmentIncomeAmt
CY Investment Income$1,117,364CYInvestmentIncomeAmt
PY Other Revenue$0PYOtherRevenueAmt
CY Other Revenue$0CYOtherRevenueAmt
PY Total Revenue$38,301,361PYTotalRevenueAmt
CY Total Revenue$40,637,789CYTotalRevenueAmt
PY Grants And Similar Paid$0PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid$0CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members$0PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members$0CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid$213,736PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid$20,000CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns$0PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$0CYTotalFundraisingExpenseAmt
PY Other Expenses$35,646,163PYOtherExpensesAmt
CY Other Expenses$37,528,859CYOtherExpensesAmt
PY Total Expenses$35,859,899PYTotalExpensesAmt
CY Total Expenses$37,548,859CYTotalExpensesAmt
PY Revenues Less Expenses$2,441,462PYRevenuesLessExpensesAmt
CY Revenues Less Expenses$3,088,930CYRevenuesLessExpensesAmt
Total Assets BOY$728,918,980TotalAssetsBOYAmt
Total Assets EOY$665,247,990TotalAssetsEOYAmt
Total Liabilities BOY$518,285,381TotalLiabilitiesBOYAmt
Total Liabilities EOY$448,241,776TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$210,633,599NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$217,006,214NetAssetsOrFundBalancesEOYAmt
MissionFinancial assistance to eligible borrowersMissionDesc
Significant New Program Srvc0SignificantNewProgramSrvcInd
Significant Change0SignificantChangeInd
Expense$35,575,378ExpenseAmt
Grant$0GrantAmt
Revenue$39,520,425RevenueAmt
DescThe 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.Desc
Total Program Service Expenses$35,575,378TotalProgramServiceExpensesAmt
Described In Section501c3Yes (1)DescribedInSection501c3Ind
Schedule B Required0ScheduleBRequiredInd
Political Campaign Acty0PoliticalCampaignActyInd
Lobbying Activities0LobbyingActivitiesInd
Subject To Proxy Tax0SubjectToProxyTaxInd
Donor Advised Fund0DonorAdvisedFundInd
Conservation Easements0ConservationEasementsInd
Collections Of Art0CollectionsOfArtInd
Credit Counseling0CreditCounselingInd
Temp Or Permanent Endowments0TempOrPermanentEndowmentsInd
Report Land Building Equipment0ReportLandBuildingEquipmentInd
Report Investments Other Sec0ReportInvestmentsOtherSecInd
Report Program Related Invst0ReportProgramRelatedInvstInd
Report Other Assets0ReportOtherAssetsInd
Report Other LiabilitiesYes (1)ReportOtherLiabilitiesInd
Include FIN48 FootnoteYes (1)IncludeFIN48FootnoteInd
Independent Audit Fincl Stmt0IndependentAuditFinclStmtInd
Consolidated Audit Fincl StmtYes (1)ConsolidatedAuditFinclStmtInd
School Operating0SchoolOperatingInd
Foreign Office0ForeignOfficeInd
Foreign ActivitiesYes (1)ForeignActivitiesInd
More Than5000 K To Org0MoreThan5000KToOrgInd
More Than5000 K To Individuals0MoreThan5000KToIndividualsInd
Professional Fundraising0ProfessionalFundraisingInd
Fundraising Activities0FundraisingActivitiesInd
Gaming Activities0GamingActivitiesInd
Operate Hospital0OperateHospitalInd
Grants To Organizations0GrantsToOrganizationsInd
Grants To Individuals0GrantsToIndividualsInd
Schedule J RequiredYes (1)ScheduleJRequiredInd
Tax Exempt Bonds0TaxExemptBondsInd
Engaged In Excess Benefit Trans0EngagedInExcessBenefitTransInd
PY Excess Benefit Trans0PYExcessBenefitTransInd
Loan Outstanding0LoanOutstandingInd
Grant To Related Person0GrantToRelatedPersonInd
Business Rln With Org Mem0BusinessRlnWithOrgMemInd
Business Rln With Fam Mem0BusinessRlnWithFamMemInd
Business Rln With Officer Ent0BusinessRlnWithOfficerEntInd
Deductible Non Cash Contri0DeductibleNonCashContriInd
Deductible Art Contribution0DeductibleArtContributionInd
Terminate Operations0TerminateOperationsInd
Partial Liquidation0PartialLiquidationInd
Disregarded Entity0DisregardedEntityInd
Related EntityYes (1)RelatedEntityInd
Related Organization Ctrl EntYes (1)RelatedOrganizationCtrlEntInd
Trnsfr Exmpt Non Chrtbl Rltd Org0TrnsfrExmptNonChrtblRltdOrgInd
Activities Conducted Prtshp0ActivitiesConductedPrtshpInd
Schedule O RequiredYes (1)ScheduleORequiredInd
IRP Document7IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Backup Wthld ComplianceYes (1)BackupWthldComplianceInd
Employee0EmployeeCnt
Unrelated Bus Incm Over Limit0UnrelatedBusIncmOverLimitInd
Foreign Financial Account0ForeignFinancialAccountInd
Prohibited Tax Shelter Trans0ProhibitedTaxShelterTransInd
Taxable Party Notification0TaxablePartyNotificationInd
Nondeductible Contributions0NondeductibleContributionsInd
Quid Pro Quo Contributions0QuidProQuoContributionsInd
Form8282 Property Disposed Of0Form8282PropertyDisposedOfInd
Rcv Fnds To Pay Prsnl Bnft Cntrct0RcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft Cntrct0PayPremiumsPrsnlBnftCntrctInd
Indoor Tanning Services0IndoorTanningServicesInd
Info In Schedule O Part VIYes (X)InfoInScheduleOPartVIInd
Governing Body Voting Members7GoverningBodyVotingMembersCnt
Independent Voting Member7IndependentVotingMemberCnt
Family Or Business Rln0FamilyOrBusinessRlnInd
Delegation Of Mgmt DutiesYes (1)DelegationOfMgmtDutiesInd
Change To Org Documents0ChangeToOrgDocumentsInd
Material Diversion Or Misuse0MaterialDiversionOrMisuseInd
Members Or Stockholders0MembersOrStockholdersInd
Election Of Board Members0ElectionOfBoardMembersInd
Decisions Subject To Approva0DecisionsSubjectToApprovaInd
Minutes Of Governing BodyYes (1)MinutesOfGoverningBodyInd
Minutes Of CommitteesYes (1)MinutesOfCommitteesInd
Officer Mailing Address0OfficerMailingAddressInd
Local Chapters0LocalChaptersInd
Form990 Provided To Gvrn BodyYes (1)Form990ProvidedToGvrnBodyInd
Conflict Of Interest PolicyYes (1)ConflictOfInterestPolicyInd
Annual Disclosure Covered PrsnYes (1)AnnualDisclosureCoveredPrsnInd
Regular Monitoring EnfrcYes (1)RegularMonitoringEnfrcInd
Whistleblower PolicyYes (1)WhistleblowerPolicyInd
Document Retention PolicyYes (1)DocumentRetentionPolicyInd
Compensation Process CEO0CompensationProcessCEOInd
Compensation Process Other0CompensationProcessOtherInd
Investment In Joint Venture0InvestmentInJointVentureInd
States Where Copy Of Return Is FldNHStatesWhereCopyOfReturnIsFldCd
Upon RequestYes (X)UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1Dean GrondinBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone6032255867PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line14 Barrell CourtAddressLine1Txt
CityConcordCityNm
State AbbreviationNHStateAbbreviationCd
ZIP033022111ZIPCd

Form990 Part VII Section A Form990PartVIISectionAGrp (9 entries)

TitleTitleTxtAverage Hours Per WeekAverageHoursPerWeekRtAverage Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRtIndividual Trustee Or DirectorIndividualTrusteeOrDirectorIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmtOfficerOfficerInd
Peter Burger
Trustee0.200.00Yes (X)$0$0$0
Susan Howard
Trustee0.200.00Yes (X)$0$0$0
Tim Sink
Trustee0.200.00Yes (X)$0$0$0
Christiana Thornton
Trustee0.200.00Yes (X)$0$0$0
Daniel Dubreuil
Chairman0.200.00Yes (X)$0$0$0Yes (X)
Linda Normandin
Vice Chair/Treasurer0.200.00Yes (X)$0$0$0Yes (X)
Harvey D Hill
Secretary0.200.00Yes (X)$0$0$0Yes (X)
Rene A Drouin
President & CEO9.9030.10$0$503,331$52,096Yes (X)
Dean Grondin
Vice President & CFO10.0030.00$0$269,373$18,753Yes (X)
FieldValueIRS element (for citing)
Total Reportable Comp From Org$0TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org$772,704TotReportableCompRltdOrgAmt
Total Other Compensation$70,849TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K0IndivRcvdGreaterThan100KCnt
Former Ofcr Employees Listed0FormerOfcrEmployeesListedInd
Total Comp Greater Than150 KYes (1)TotalCompGreaterThan150KInd
Compensation From Other Srcs0CompensationFromOtherSrcsInd

Contractor Compensation ContractorCompensationGrp (4 entries)

Address Line1ContractorAddress/USAddress/AddressLine1TxtCityContractorAddress/USAddress/CityNmState AbbreviationContractorAddress/USAddress/StateAbbreviationCdZIPContractorAddress/USAddress/ZIPCdServicesServicesDescCompensationCompensationAmt
Granite State Management & Resources
4 Barrell Court PO Box 2087ConcordNH033022087Management and Loan Servicing$6,604,368
Credible Labs Inc
101 Green Street 2nd FloorSan FranciscoCA94111Loan Processing$373,899
Campus Door Holdings Inc
1415 Ritner HighwayCarlislePA17013Loan Processing$192,104
Hinckley Allen Snyder LLP
650 Elm Street Suite 500ManchesterNH03101Legal Services$109,382
FieldValueIRS element (for citing)
Cntrct Rcvd Greater Than100 K4CntrctRcvdGreaterThan100KCnt

Program Service Revenue ProgramServiceRevenueGrp (5 entries)

DescDescBusinessBusinessCdTotal Revenue ColumnTotalRevenueColumnAmtRelated Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt
Interest student loans525990$27,933,090$27,933,090
DL Service Fee Revenue525990$9,658,606$9,658,606
Federal Interest Benefit525990$1,071,580$1,071,580
Late charges & other525990$853,672$853,672
Gain on Debt Extinguishment525990$3,477$3,477
FieldValueIRS element (for citing)
Total Program Service Revenue$39,520,425TotalProgramServiceRevenueAmt

Investment Income InvestmentIncomeGrp

FieldValueIRS element (for citing)
Total Revenue Column$1,170,315TotalRevenueColumnAmt
Exclusion$1,170,315ExclusionAmt

Gross Amount Sales Assets GrossAmountSalesAssetsGrp

FieldValueIRS element (for citing)
Securities$22,492,939SecuritiesAmt

Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp

FieldValueIRS element (for citing)
Securities$22,545,890SecuritiesAmt

Gain Or Loss GainOrLossGrp

FieldValueIRS element (for citing)
Securities-$52,951SecuritiesAmt

Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp

FieldValueIRS element (for citing)
Total Revenue Column-$52,951TotalRevenueColumnAmt
Exclusion-$52,951ExclusionAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$40,637,789TotalRevenueColumnAmt
Related Or Exempt Func Income$39,520,425RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$0UnrelatedBusinessRevenueAmt
Exclusion$1,117,364ExclusionAmt
FieldValueIRS element (for citing)
Info In Schedule O Part IXYes (X)InfoInScheduleOPartIXInd

Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp

FieldValueIRS element (for citing)
Total$20,000TotalAmt
Management And General$20,000ManagementAndGeneralAmt

Fees For Services Legal FeesForServicesLegalGrp

FieldValueIRS element (for citing)
Total$114,109TotalAmt
Management And General$114,109ManagementAndGeneralAmt

Fees For Services Accounting FeesForServicesAccountingGrp

FieldValueIRS element (for citing)
Total$48,805TotalAmt
Management And General$48,805ManagementAndGeneralAmt

Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp

FieldValueIRS element (for citing)
Total$507,923TotalAmt
Management And General$507,923ManagementAndGeneralAmt

Fees For Services Other FeesForServicesOtherGrp

FieldValueIRS element (for citing)
Total$16,263,052TotalAmt
Program Services$14,980,408ProgramServicesAmt
Management And General$1,282,644ManagementAndGeneralAmt

Office Expenses OfficeExpensesGrp

FieldValueIRS element (for citing)
Total$32,250TotalAmt
Program Services$32,250ProgramServicesAmt

Travel TravelGrp

FieldValueIRS element (for citing)
Total$31,497TotalAmt
Program Services$31,497ProgramServicesAmt

Interest InterestGrp

FieldValueIRS element (for citing)
Total$12,433,948TotalAmt
Program Services$12,433,948ProgramServicesAmt

Other Expenses OtherExpensesGrp (4 entries)

DescDescTotalTotalAmtProgram ServicesProgramServicesAmt
Student Loan Allowance$4,184,447$4,184,447
Consolidation Loan Fee$3,042,599$3,042,599
Bond Administration Exp$210,993$210,993
Gain on Debt Extinguish-$301,475-$301,475

All Other Expenses AllOtherExpensesGrp

FieldValueIRS element (for citing)
Total$960,711TotalAmt
Program Services$960,711ProgramServicesAmt

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$37,548,859TotalAmt
Program Services$35,575,378ProgramServicesAmt
Management And General$1,973,481ManagementAndGeneralAmt
Fundraising$0FundraisingAmt

Savings And Temp Cash Invst SavingsAndTempCashInvstGrp

FieldValueIRS element (for citing)
BOY$52,014,407BOYAmt
EOY$17,806,593EOYAmt

Accounts Receivable AccountsReceivableGrp

FieldValueIRS element (for citing)
BOY$995,532BOYAmt
EOY$1,188,721EOYAmt

Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp

FieldValueIRS element (for citing)
BOY$606,709,390BOYAmt
EOY$593,160,367EOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

FieldValueIRS element (for citing)
BOY$4,067,922BOYAmt
EOY$3,639,813EOYAmt

Investments Pub Traded Sec InvestmentsPubTradedSecGrp

FieldValueIRS element (for citing)
BOY$48,515,157BOYAmt
EOY$31,224,194EOYAmt

Investments Other Securities InvestmentsOtherSecuritiesGrp

FieldValueIRS element (for citing)
BOY$16,142,867BOYAmt
EOY$17,514,370EOYAmt

Other Assets Total OtherAssetsTotalGrp

FieldValueIRS element (for citing)
BOY$473,705BOYAmt
EOY$713,932EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$728,918,980BOYAmt
EOY$665,247,990EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

FieldValueIRS element (for citing)
BOY$738,378BOYAmt
EOY$1,360,369EOYAmt

Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp

FieldValueIRS element (for citing)
BOY$513,043,052BOYAmt
EOY$443,289,466EOYAmt

Other Liabilities OtherLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$4,503,951BOYAmt
EOY$3,591,941EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$518,285,381BOYAmt
EOY$448,241,776EOYAmt
FieldValueIRS element (for citing)
Organization Follows SFAS117Yes (X)OrganizationFollowsSFAS117Ind

Unrestricted Net Assets UnrestrictedNetAssetsGrp

FieldValueIRS element (for citing)
BOY$210,633,599BOYAmt
EOY$217,006,214EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$210,633,599BOYAmt
EOY$217,006,214EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$728,918,980BOYAmt
EOY$665,247,990EOYAmt
FieldValueIRS element (for citing)
Reconcilation Revenue Expnss$3,088,930ReconcilationRevenueExpnssAmt
Net Unrlzd Gains Losses Invst$3,283,685NetUnrlzdGainsLossesInvstAmt
Other Changes In Net Assets$0OtherChangesInNetAssetsAmt
Method Of Accounting AccrualYes (X)MethodOfAccountingAccrualInd
Accountant Compile Or Review0AccountantCompileOrReviewInd
FS AuditedYes (1)FSAuditedInd

FS Audited Basis FSAuditedBasisGrp

FieldValueIRS element (for citing)
Consolidated Basis Fincl StmtYes (X)ConsolidatedBasisFinclStmtInd
FieldValueIRS element (for citing)
Audit CommitteeYes (1)AuditCommitteeInd
Federal Grant Audit Required0FederalGrantAuditRequiredInd

Schedule A IRS990ScheduleA

FieldValueIRS element (for citing)
Publicly Supported Org509a2Yes (X)PubliclySupportedOrg509a2Ind

Gross Receipts Admissions GrossReceiptsAdmissionsGrp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$47,075,098CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$41,607,079CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$39,619,797CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$37,101,649CurrentTaxYearMinus1YearAmt
Current Tax Year$39,520,425CurrentTaxYearAmt
Total$204,924,048TotalAmt

Total509 Total509Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$47,075,098CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$41,607,079CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$39,619,797CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$37,101,649CurrentTaxYearMinus1YearAmt
Current Tax Year$39,520,425CurrentTaxYearAmt
Total$204,924,048TotalAmt

Amounts Rcvd Dsqlfy Person AmountsRcvdDsqlfyPersonGrp

FieldValueIRS element (for citing)
Total$0TotalAmt

Substantial Contributors Amt SubstantialContributorsAmtGrp

FieldValueIRS element (for citing)
Total$0TotalAmt

Subst And Dsqlfy Prsns Tot SubstAndDsqlfyPrsnsTotGrp

FieldValueIRS element (for citing)
Total$0TotalAmt
FieldValueIRS element (for citing)
Public Support Total509$204,924,048PublicSupportTotal509Amt

Gross Investment Income509 GrossInvestmentIncome509Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$955,470CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$1,048,279CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$895,868CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$963,273CurrentTaxYearMinus1YearAmt
Current Tax Year$1,170,315CurrentTaxYearAmt
Total$5,033,205TotalAmt

Investment Income And UBTI InvestmentIncomeAndUBTIGrp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$955,470CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$1,048,279CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$895,868CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$963,273CurrentTaxYearMinus1YearAmt
Current Tax Year$1,170,315CurrentTaxYearAmt
Total$5,033,205TotalAmt

Total Support Calendar Year TotalSupportCalendarYearGrp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$48,030,568CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$42,655,358CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$40,515,665CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$38,064,922CurrentTaxYearMinus1YearAmt
Current Tax Year$40,690,740CurrentTaxYearAmt
Total$209,957,253TotalAmt
FieldValueIRS element (for citing)
Public Support CY5090.97600PublicSupportCY509Pct
Public Support PY5090.97770PublicSupportPY509Pct
Investment Income CY0.02400InvestmentIncomeCYPct
Investment Income PY0.02230InvestmentIncomePYPct
Thirty Thr Pct Suprt Tests CY509Yes (X)ThirtyThrPctSuprtTestsCY509Ind

Schedule D IRS990ScheduleD

FieldValueIRS element (for citing)
Total Book Value Land Buildings$0TotalBookValueLandBuildingsAmt

Other Liabilities Org OtherLiabilitiesOrgGrp (3 entries)

DescDescAmtAmt
Accrued interest payable$1,087,576
Fees payable to U.S. government$1,048,624
Due to related entities$1,455,741
FieldValueIRS element (for citing)
Total Liability$3,591,941TotalLiabilityAmt
Footnote TextYes (X)FootnoteTextInd
Total Rev Etc Audited Fincl Stmt$39,737,027TotalRevEtcAuditedFinclStmtAmt
Net Unrealized Gains Invst$3,283,685NetUnrealizedGainsInvstAmt
Revenue Not Reported$3,283,685RevenueNotReportedAmt
Revenue Subtotal$36,453,342RevenueSubtotalAmt
Other Revenues Not Included$4,184,447OtherRevenuesNotIncludedAmt
Revenue Not Reported Fincl Stmt$4,184,447RevenueNotReportedFinclStmtAmt
Total Revenue Per Form990$40,637,789TotalRevenuePerForm990Amt
Tot Expns Etc Audited Fincl Stmt$33,364,412TotExpnsEtcAuditedFinclStmtAmt
Expenses Not Reported$0ExpensesNotReportedAmt
Expenses Subtotal$33,364,412ExpensesSubtotalAmt
Other Expenses Not Included$4,184,447OtherExpensesNotIncludedAmt
Expenses Not Rpt Fincl Stmt$4,184,447ExpensesNotRptFinclStmtAmt
Total Expenses Per Form990$37,548,859TotalExpensesPerForm990Amt

Supplemental Information Detail SupplementalInformationDetail (3 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
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, 2017 or 2016.
Part XI, Line 4b - Other Adjustments:Student loan allowances 4,184,447.
Part XII, Line 4b - Other Adjustments:Student loan allowances 4,184,447.

Schedule F IRS990ScheduleF

Account Activities Outside US AccountActivitiesOutsideUSGrp

FieldValueIRS element (for citing)
RegionCentral America and the CaribbeanRegionTxt
Offices0OfficesCnt
Employee0EmployeeCnt
Type Of Activities ConductedInvestmentsTypeOfActivitiesConductedTxt
Region Total Expenditures$10,421,000RegionTotalExpendituresAmt
FieldValueIRS element (for citing)
Subtotal Offices0SubtotalOfficesCnt
Subtotal Employees0SubtotalEmployeesCnt
Continutation Total Office0ContinutationTotalOfficeCnt
Continutation Total Employee0ContinutationTotalEmployeeCnt
Total Office0TotalOfficeCnt
Total Employee0TotalEmployeeCnt
Subtotal Spent$10,421,000SubtotalSpentAmt
Continuation Spent$0ContinuationSpentAmt
Total Spent$10,421,000TotalSpentAmt
Transfer To Foreign CorpYes (1)TransferToForeignCorpInd
Interest In Foreign Trust0InterestInForeignTrustInd
Foreign Corp OwnershipYes (1)ForeignCorpOwnershipInd
Passive Foreign Investmest Co0PassiveForeignInvestmestCoInd
Foreign PartnershipYes (1)ForeignPartnershipInd
Boycott Countries0BoycottCountriesInd

Supplemental Information Detail SupplementalInformationDetail

FieldValueIRS element (for citing)
Form And Line ReferenceSchedule F, Part IV, Lines 3 & 5:FormAndLineReferenceDesc
ExplanationNew Hampshire Higher Education Loan Corporation has an ownership interest in two foreign exempt companies and one foreign exempt partnership by way of their ownership of alternative investments. The organization's interest in these foreign companies did not surpass the filing threshold for Form 5471 or Form 8865. Additionally, New Hampshire Higher Education Loan Corporation had no unrelated business income related to their foreign investments.ExplanationTxt

Schedule J IRS990ScheduleJ

FieldValueIRS element (for citing)
Severance Payment0SeverancePaymentInd
Supplemental Nonqual Rtr PlanYes (1)SupplementalNonqualRtrPlanInd
Equity Based Comp Arrngm0EquityBasedCompArrngmInd
Comp Based On Revenue Of Flng Org0CompBasedOnRevenueOfFlngOrgInd
Comp Bsd On Rev Related Orgs0CompBsdOnRevRelatedOrgsInd
Comp Bsd Net Earns Flng Org0CompBsdNetEarnsFlngOrgInd
Comp Bsd Net Earns Rltd Orgs0CompBsdNetEarnsRltdOrgsInd
Any Non Fixed Payments0AnyNonFixedPaymentsInd
Initial Contract Exception0InitialContractExceptionInd

Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (2 entries)

TitleTitleTxtBase Compensation Filing OrgBaseCompensationFilingOrgAmtCompensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmtBonus Filing OrganizationBonusFilingOrganizationAmountBonus Related OrganizationsBonusRelatedOrganizationsAmtOther Compensation Filing OrgOtherCompensationFilingOrgAmtOther Compensation Rltd OrgsOtherCompensationRltdOrgsAmtDeferred Compensation Flng OrgDeferredCompensationFlngOrgAmtDeferred Comp Rltd OrgsDeferredCompRltdOrgsAmtNontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmtNontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmtTotal Compensation Filing OrgTotalCompensationFilingOrgAmtTotal Compensation Rltd OrgsTotalCompensationRltdOrgsAmtComp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmtComp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt
Rene A Drouin
President & CEO$0$357,493$0$104,000$0$41,838$20,000$10,616$0$21,480$20,000$535,427$0$0
Dean Grondin
Vice President & CFO$0$204,454$0$56,349$0$8,570$0$9,571$0$9,182$0$288,126$0$0

Supplemental Information Detail SupplementalInformationDetail (2 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
Part I, Line 3The 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 4bNew Hampshire Higher Education Loan Corporation maintains a 457(f) nonqualified deferred compensation plan for the benefit of Rene Drouin. In 2016, a tax-deferred contribution of $20,000 was made into the plan.

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (5 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
Form 990, Part VI, Section A, line 3The organization contracts with Granite State Management & Resources, a related entity, for its management services.
Form 990, Part VI, Section B, line 11bA 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 12cAny 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 19The organization will provide its governing documents, conflict of interest policy, and financial statements available to the public upon request.
Form 990, Part IX, line 11gServicing Fees: Program service expenses 14,980,408. Management and general expenses 1,282,644. Fundraising expenses 0. Total expenses 16,263,052.

Schedule R IRS990ScheduleR

Id Disregarded Entities IdDisregardedEntitiesGrp

Disregarded Entity Name DisregardedEntityName

FieldValueIRS element (for citing)
Business Name Line1EDvestinU Private Education Loan Issue No 1 LLCBusinessNameLine1Txt

US Address USAddress

FieldValueIRS element (for citing)
Address Line1c/o NHHELCO 4 Barrell CourtAddressLine1Txt
CityConcordCityNm
State AbbreviationNHStateAbbreviationCd
ZIP03301ZIPCd
FieldValueIRS element (for citing)
EIN475156259EIN
Primary ActivitiesPurchase private student loansPrimaryActivitiesTxt
Legal Domicile StateNHLegalDomicileStateCd
Total Income$6,857,518TotalIncomeAmt
End Of Year Assets$147,426,164EndOfYearAssetsAmt

Direct Controlling Entity Name DirectControllingEntityName

FieldValueIRS element (for citing)
Business Name Line1New Hampshire Higher Education Loan CorporationBusinessNameLine1Txt

Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp (3 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdEINEINPrimary ActivitiesPrimaryActivitiesTxtLegal Domicile StateLegalDomicileStateCdExempt Code SectionExemptCodeSectionTxtPublic Charity StatusPublicCharityStatusTxtDirect Controlling NADirectControllingNACdControlled OrganizationControlledOrganizationIndBusiness Name Line1DirectControllingEntityName/BusinessNameLine1Txt
Granite State Management and Resources
4 Barrell CourtConcordNH033022087020404239Administrator/servicer of student loansNH501(c)(3)Line 10N/A0
New Hampshire Higher Education Assistance Foundation
4 Barrell CourtConcordNH033020877026007687Student loan guarantorNH501(c)(3)Line 10N/A0
NHHEAF Network Education Foundation
4 Barrell CourtConcordNH033022111300289044Grants and scholarshipsNH501(c)(3)PFYes (1)New Hampshire Higher Education Loan Corporation

Id Related Org Txbl Corp Tr IdRelatedOrgTxblCorpTrGrp

Related Organization Name RelatedOrganizationName

FieldValueIRS element (for citing)
Business Name Line1Granite Business Solutions IncBusinessNameLine1Txt

US Address USAddress

FieldValueIRS element (for citing)
Address Line14 Barrell Court PO Box 2087AddressLine1Txt
CityConcordCityNm
State AbbreviationNHStateAbbreviationCd
ZIP033022087ZIPCd
FieldValueIRS element (for citing)
EIN812329622EIN
Primary ActivitiesCall Service CenterPrimaryActivitiesTxt
Legal Domicile StateNHLegalDomicileStateCd
Direct Controlling NAN/ADirectControllingNACd
Entity TypeCEntityTypeTxt
Controlled Organization0ControlledOrganizationInd
FieldValueIRS element (for citing)
Receipt Of Int Annts Rnts Rylts0ReceiptOfIntAnntsRntsRyltsInd
Gift Grnt Or Cap Contri To Oth Org0GiftGrntOrCapContriToOthOrgInd
Gift Grnt Cap Contri From Oth Org0GiftGrntCapContriFromOthOrgInd
Loans Or Guarantees To Other Org0LoansOrGuaranteesToOtherOrgInd
Loans Or Guarantees From Oth Org0LoansOrGuaranteesFromOthOrgInd
Div Related Organization0DivRelatedOrganizationInd
Asset Sale To Other Org0AssetSaleToOtherOrgInd
Asset Purchase From Other Org0AssetPurchaseFromOtherOrgInd
Asset Exchange0AssetExchangeInd
Rental Of Facilities To Oth Org0RentalOfFacilitiesToOthOrgInd
Rental Of Fclts From Oth Org0RentalOfFcltsFromOthOrgInd
Perform Of Services For Oth Org0PerformOfServicesForOthOrgInd
Perform Of Services By Other OrgYes (1)PerformOfServicesByOtherOrgInd
Sharing Of Facilities0SharingOfFacilitiesInd
Paid Employees Sharing0PaidEmployeesSharingInd
Reimbursement Paid To Other OrgYes (1)ReimbursementPaidToOtherOrgInd
Reimbursement Paid By Other Org0ReimbursementPaidByOtherOrgInd
Transfer To Other Org0TransferToOtherOrgInd
Transfer From Other Org0TransferFromOtherOrgInd

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