2014-02-13T11:50:26-06:00 2013-09-30 010494526 Baker Newman & Noyes LLC PO Box 507 Portland ME 04112 990 2012-10-01 020368776 New Hampshire Higher Education Loan Corporation NHHI 6032265829 4 Barrell Court PO Box 2111 Concord NH 03302 Rene A Drouin 6032265829 2014-02-13 1 Nicholas E Porto P01310283 2078792100 2012 2015-11-30 17:44:51Z Rene A Drouin 4 Barrell Court PO Box 2111 Concord NH 03302 86480815 0 X www.nhhelco.org X 1983 NH Financial assistance to eligible borrowers 7 7 0 7 0 0 0 0 50505689 47075098 1432337 3504695 0 0 51938026 50579793 0 0 0 0 0 0 0 0 0 52051091 47179986 52051091 47179986 -113065 3399807 1016677936 911607505 820042726 712256270 196635210 199351235 Financial assistance to eligible borrowers 0 0 45519397 0 47075098 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. 45519397 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 0.20 X 0 0 0 Susan Howard 0.20 X 0 0 0 Tim Sink 0.20 X 0 0 0 Christiana Thornton 0.20 X 0 0 0 Daniel Dubreuil 0.20 X X 0 0 0 Linda Normandin 0.20 X X 0 0 0 Harvey Hill 0.20 X X 0 0 0 Rene A Drouin 10.00 30.00 X 0 476938 49094 Dean Grondin 10.00 30.00 X 0 220620 29356 0 697558 78450 0 0 1 0 Granite State Management & Resources 4 Barrell Court PO Box 2087 Concord NH 033022087 Management Services 10259427 Kutak Rock PO Box 30057 Omaha NE 681031157 Legal and Consulting Services 177000 First Southwest 325 North Street Suite 800 Dallas TX 75201 Financial Advisor 150000 3 Interest student loans 525990 37320079 37320079 DL Service Fee Revenue 525990 5847108 5847108 Government contracts 525990 2698049 2698049 Late charges & other 525990 702262 702262 Guarantee fees 525990 507600 507600 47075098 955470 955470 38450247 35901022 2549225 2549225 2549225 50579793 47075098 0 3504695 X 152240 152240 49819 49819 168407 168407 16126534 14836411 1290123 30000 30000 13799 13799 8757140 8757140 Student loan allowances 11012139 11012139 Consolidation loan fees 4397767 4397767 Provision for est. loss 2670156 2670156 Bond administration exp 1920580 1920580 1881405 1881405 47179986 45519397 1660589 0 28431030 40243522 1387942 1064156 935577162 822613008 4920641 6101864 38193242 26889354 14171143 8167919 524458 1016677936 911607505 2100376 2192416 852138 344538 9081000 8236000 801369805 695810597 6639407 5672719 820042726 712256270 X 196635210 199351235 196635210 199351235 1016677936 911607505 3399807 -683782 0 X 0 1 X 1 1 1 X X X 0 0 0 GSM&R 020404239 9 0 1 1 10259427 NHHEAF 026007687 9 0 0 1 0 2 10259427 0 Accrued interest payable 1021800 Fees payable to U.S. government 2964255 Due to related entities 1299425 Arbitrage earnings payable 387239 5672719 X 38883872 -683782 -683782 39567654 11012139 11012139 50579793 36167847 0 36167847 11012139 11012139 47179986 Description of Uncertain Tax Positions Under FIN 48: 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, 2013 or 2012. The Company's tax years after 2009 are open and subject to examination. Part XI, Line 4b - Other Adjustments: Student loan allowances 11,012,139. Part XII, Line 4b - Other Adjustments: Student loan allowances 11,012,139. 0 0 0 0 0 0 0 0 0 Rene A Drouin 0 347081 0 86750 0 43107 0 29828 0 19266 0 526032 0 0 Dean Grondin 0 185320 0 27500 0 7800 0 20841 0 8515 0 249976 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. Other Fees Form 990, Part IX, line 11g Contract and service fees: Program service expenses 14,836,411. Management and general expenses 1,290,123. Fundraising expenses 0. Total expenses 16,126,534. 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