2015-02-13T10:02:28-06:00 2014-09-30 010494526 Baker Newman & Noyes LLC PO Box 507 Portland ME 04112 990 2013-10-01 020368776 New Hampshire Higher Education Loan Corporation NHHI 6032265829 4 Barrell Court PO Box 2111 Concord NH 03302 Rene A Drouin President & CEO 6032265829 2015-02-10 1 Nicholas E Porto P01310283 2078792100 2013 2016-02-25 16:41:14Z Rene A Drouin 4 Barrell Court PO Box 2111 Concord NH 03302 47847085 0 X www.nhhelco.org X 1983 NH Financial assistance to eligible borrowers 7 7 0 7 0 0 0 0 47075098 41607079 3504695 1282054 0 0 50579793 42889133 0 0 0 0 0 0 0 0 0 47179986 39557862 47179986 39557862 3399807 3331271 911607505 824702305 712256270 620763837 199351235 203938468 Financial assistance to eligible borrowers 0 0 37969249 0 41607079 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. 37969249 1 0 0 0 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 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 8 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 0.10 X X 0 0 0 Linda Normandin Vice Chair/Treasurer 0.20 0.10 X X 0 0 0 Harvey D Hill Secretary 0.20 0.10 X X 0 0 0 Rene A Drouin President & CEO 10.00 30.00 X 0 505259 40010 Dean Grondin Vice President & CFO 10.00 30.00 X 0 250343 28478 0 755602 68488 0 0 1 0 Granite State Management & Resources 4 Barrell Court PO Box 2087 Concord NH 033022087 Management Services 9284991 Bradley S Waterman 1627 I Street NW Suite 1100 Washington DC 20006 Legal Services 204704 2 Interest student loans 525990 33773907 33773907 DL Service Fee Revenue 525990 4778580 4778580 Government contracts 525990 2117948 2117948 Late charges & other 525990 664844 664844 Guarantee fees 525990 271800 271800 41607079 1048279 1048279 5191727 4957952 233775 233775 233775 42889133 41607079 0 1282054 X 246530 246530 49550 49550 165847 165847 14083571 12956885 1126686 27925 27925 20588 20588 7307184 7307184 Student loan allowances 9695115 9695115 Consolidation loan fees 4023055 4023055 Bond administration exp 1668843 1668843 Provision for est. loss 624329 624329 1645325 1645325 39557862 37969249 1588613 0 40243522 36205888 1064156 855706 822613008 738148100 6101864 5553817 26889354 28972673 14171143 14579367 524458 386754 911607505 824702305 2192416 2247150 344538 72738 8236000 7699000 695810597 605818096 5672719 4926853 712256270 620763837 X 199351235 203938468 199351235 203938468 911607505 824702305 3331271 1255962 0 X 0 1 X 1 1 1 X X X 0 0 0 GSM&R 020404239 9 0 9284991 NHHEAF 026007687 9 0 0 2 9284991 0 Accrued interest payable 904858 Fees payable to U.S. government 2620894 Due to related entities 1182049 Arbitrage earnings payable 219052 4926853 X 34449980 1255962 1255962 33194018 9695115 9695115 42889133 29862747 0 29862747 9695115 9695115 39557862 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, 2014 or 2013. The Company's tax years after 2010 are open and subject to examination. Part XI, Line 4b - Other Adjustments: Student loan allowances 9,695,115. Part XII, Line 4b - Other Adjustments: Student loan allowances 9,695,115. 0 0 0 0 0 0 0 0 0 Rene A Drouin President & CEO 0 347081 0 121625 0 36553 0 19332 0 20678 0 545269 0 0 Dean Grondin Vice President & CFO 0 195000 0 49150 0 6193 0 17560 0 10918 0 278821 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. A NHHEFA 020279866 644614P45 2011-08-24 10000000 Student loans 0 0 0 A 10000000 75000 74556 9850444 2011 1 0 0 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 1 0 0 1 0 0 0 1 A 1 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 11 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 Contract and service fees: Program service expenses 12,956,885. Management and general expenses 1,126,686. Fundraising expenses 0. Total expenses 14,083,571. Granite State Management and Resources 4 Barrell Court Concord NH 033022087 020404239 Administrator/servicer of student loans NH 501(c)(3) Line 9 N/A 0 New Hampshire Higher Education Assistance Foundation 4 Barrell Court Concord NH 033020877 026007687 Student loan guarantor NH 501(c)(3) Line 9 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 0 0 0 0