2018-02-15T07:55:20-06:00 2017-09-30 010494526 Baker Newman & Noyes LLC PO Box 507 Portland ME 04112 990 2016-10-01 020368776 New Hampshire Higher Education Loan Corporation NHHI 6032265829 4 Barrell Court PO Box 2111 Concord NH 03302 Rene A Drouin President & CEO 6032265829 2018-02-13 1 Nicholas E Porto P01310283 2078792100 2018-02-07 208.105.168.164 2018-02-13 08:24:49 ES P CCFCCF25870C8311BDDC6739800371DE19EE9571 2CC4C4610C7CE537855CCDE76D04A8640C960E3E 2016 2021-01-29 14:40:06Z Rene A Drouin 4 Barrell Court PO Box 2111 Concord NH 03302 63183679 0 X www.nhhelco.org X 1983 NH Financial assistance to eligible borrowers 7 7 0 7 0 0 0 0 37101649 39520425 1199712 1117364 0 0 38301361 40637789 0 0 0 0 213736 20000 0 0 0 35646163 37528859 35859899 37548859 2441462 3088930 728918980 665247990 518285381 448241776 210633599 217006214 Financial assistance to eligible borrowers 0 0 35575378 0 39520425 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. 35575378 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 1 0 0 1 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 7 0 1 0 0 0 0 0 0 0 0 0 0 0 X 7 7 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 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 0.20 0.00 X X 0 0 0 Harvey D Hill Secretary 0.20 0.00 X X 0 0 0 Rene A Drouin President & CEO 9.90 30.10 X 0 503331 52096 Dean Grondin Vice President & CFO 10.00 30.00 X 0 269373 18753 0 772704 70849 0 0 1 0 Granite State Management & Resources 4 Barrell Court PO Box 2087 Concord NH 033022087 Management and Loan Servicing 6604368 Credible Labs Inc 101 Green Street 2nd Floor San Francisco CA 94111 Loan Processing 373899 Campus Door Holdings Inc 1415 Ritner Highway Carlisle PA 17013 Loan Processing 192104 Hinckley Allen Snyder LLP 650 Elm Street Suite 500 Manchester NH 03101 Legal Services 109382 4 Interest student loans 525990 27933090 27933090 DL Service Fee Revenue 525990 9658606 9658606 Federal Interest Benefit 525990 1071580 1071580 Late charges & other 525990 853672 853672 Gain on Debt Extinguishment 525990 3477 3477 39520425 1170315 1170315 22492939 22545890 -52951 -52951 -52951 40637789 39520425 0 1117364 X 20000 20000 114109 114109 48805 48805 507923 507923 16263052 14980408 1282644 32250 32250 31497 31497 12433948 12433948 Student Loan Allowance 4184447 4184447 Consolidation Loan Fee 3042599 3042599 Bond Administration Exp 210993 210993 Gain on Debt Extinguish -301475 -301475 960711 960711 37548859 35575378 1973481 0 52014407 17806593 995532 1188721 606709390 593160367 4067922 3639813 48515157 31224194 16142867 17514370 473705 713932 728918980 665247990 738378 1360369 513043052 443289466 4503951 3591941 518285381 448241776 X 210633599 217006214 210633599 217006214 728918980 665247990 3088930 3283685 0 X 0 1 X 1 0 X 47075098 41607079 39619797 37101649 39520425 204924048 47075098 41607079 39619797 37101649 39520425 204924048 0 0 0 204924048 955470 1048279 895868 963273 1170315 5033205 955470 1048279 895868 963273 1170315 5033205 48030568 42655358 40515665 38064922 40690740 209957253 0.97600 0.97770 0.02400 0.02230 X 0 Accrued interest payable 1087576 Fees payable to U.S. government 1048624 Due to related entities 1455741 3591941 X 39737027 3283685 3283685 36453342 4184447 4184447 40637789 33364412 0 33364412 4184447 4184447 37548859 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. Central America and the Caribbean 0 0 Investments 10421000 0 0 0 0 0 0 10421000 0 10421000 1 0 1 0 1 0 Schedule F, Part IV, Lines 3 & 5: New 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. 0 1 0 0 0 0 0 0 0 Rene A Drouin President & CEO 0 357493 0 104000 0 41838 20000 10616 0 21480 20000 535427 0 0 Dean Grondin Vice President & CFO 0 204454 0 56349 0 8570 0 9571 0 9182 0 288126 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 2016, a tax-deferred contribution of $20,000 was made into the 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 C, line 19 The organization will provide 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 14,980,408. Management and general expenses 1,282,644. Fundraising expenses 0. Total expenses 16,263,052. EDvestinU Private Education Loan Issue No 1 LLC c/o NHHELCO 4 Barrell Court Concord NH 03301 475156259 Purchase private student loans NH 6857518 147426164 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