2015-09-09T16:54:55-05:00 2014-12-31 ERNST & YOUNG US LLP 111 MONUMENT CIRCLE SUITE 4000 INDIANAPOLIS IN 46204 990 2014-01-01 411689095 NORTHSTAR GUARANTEE INC % NANCY SEIFERT NORT 6082461410 2401 International Lane Suite Madison WI 53704 RICHARD D GEORGE PRESIDENT & CEO 2015-09-09 Jennifer L Lynch P01255855 3176817000 2014 2016-04-25 22:37:26Z Richard D George 2401 International Lane Madison WI 53704 2706503 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 3106367 2680888 20086 25615 0 0 3126453 2706503 0 0 0 0 32816 37666 0 0 0 1379100 1177575 1411916 1215241 1714537 1491262 125673610 127112346 118796371 118743845 6877239 8368501 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 1117319 2680888 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. 1117319 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 true 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 NANCY SEIFERT 6082461410 2401 INTERNATIONAL LANE Madison WI 53704 X David J Hanson 14 Director/Secretary 1.0 2.0 X 0 0 0 Janice Hesalroad 1 Director 1.0 2.0 X 6333 12667 0 Linda Hoeschler 1 Director 1.0 2.0 X 7750 7750 0 Alex J Pollock 1 Director 1.0 2.0 X 9500 9500 0 Richard A Weiss 1 Director 1.0 2.0 X 6333 12667 0 Joan Prince 1 Director 1.0 2.0 X 7750 7750 0 Richard D George 23 Chairman/PRES/CEO/Treasurer 1.0 59.0 X X 0 899436 102106 Nancy Seifert 3 CFO/Asst Secretary 1.0 54.0 X 0 387859 61273 37666 1337629 163379 0 false true false NONE 0 0 LOAN INTEREST INCOME 900099 2680888 2680888 2680888 25615 25615 0 0 0 0 0 0 0 0 0 0 2706503 2680888 0 25615 0 0 0 0 37666 37666 0 0 0 0 0 0 5167 5167 5600 5600 0 0 0 0 0 22580 22580 0 0 0 0 4464 4464 0 0 0 0 0 CORPORATE SUPPORT ALLOCATION 45000 45000 PROVISION - LENDER LOAN LOSS 269860 269860 CONSOLIDATED INT. REBATE FEE 644536 644536 SERVICING FEES 180343 180343 25 25 1215241 1117319 97922 0 1617 1459 38278000 51960000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 87393993 75150887 125673610 127112346 5600 5600 0 0 0 0 0 0 0 0 0 0 0 0 0 0 118790771 118738245 118796371 118743845 X 6877239 8368501 0 0 0 0 6877239 8368501 125673610 127112346 1491262 X false true X true X 0 0 0 0 0 0 3294048 3035476 3708658 3106367 2680888 15825437 0 0 0 3294048 3035476 3708658 3106367 2680888 15825437 0 0 0 0 0 0 0 0 0 0 0 0 0 0 15825437 18646 25132 5312 20086 25615 94791 0 18646 25132 5312 20086 25615 94791 0 0 3312694 3060608 3713970 3126453 2706503 15920228 0.99405 0.99499 0.00595 0.00500 X STUDENT LOANS RECEIVABLE 73160219 INTEREST RECEIVABLE 1672912 DUE FROM SERVICER 317756 75150887 0 INTERCOMPANY PAYABLE 13606 LENDER FUNDING CONTRIBUTION TR 118419274 CONSOLIDATED LOAN FEE PAYABLE 50384 INTEREST PAYABLE 241304 SERVICING FEES PAYABLE 13677 118738245 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). false true false false false false false false false Richard D George 23 Chairman/PRES/CEO/Treasurer 0 296653 0 300586 0 302197 0 83022 0 19084 0 1001542 0 0 Nancy Seifert 3 CFO/Asst Secretary 0 179247 0 180558 0 28054 0 38929 0 22344 0 449132 0 0 Supplemental Compensation Information The following individuals participated in a supplemental nonqualified retirement plan: Richard George and Nancy Seifert. 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. GREAT LAKES EDUCATIONAL LOAN SVCS Contrl Ent/officer ovrlap 180237 SERVICING FEES PAID TO GLELSI false GREAT LAKES EDUCATIONAL LOAN SVCS Contrl Ent/officer ovrlap 2416 INTERCOMPANY REIMB. TO GLELSI false Description of Transaction: 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. Availability of Governing Documents, Conflict of Interest Policy, and Financial Statements to General Public: PART VI, QUESTION 19 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. (4) Board compensation is applied to firm retainer for outside counsel services. Great Lakes Higher Education Corporation 2401 International Lane Madison WI 53704 391090394 stdnt ln svcs WI 501(c)(3) 11B Type 2 NA false Great Lakes Higher Educ Guaranty Corp 2401 International Lane Madison WI 53704 391853833 gty stdnt lns WI 501(c)(3) 9 GLHEC 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 true false false true false false false Great Lakes Educational Loan Services Inc m 180237 Actual Cost