Granite State Management and Resources: Form 990, tax year 2012

View the entire original 990 at ProPublica ↗

Organization
Granite State Management and Resources (EIN 02-0404239)
Tax period
2012-10-01 to 2013-09-30
Filed
2014-02-13
IRS object ID
201430449349300418
Schema version
2012v2.1
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)
Timestamp2014-02-13T11:50:26-06:00Timestamp
Tax Period End Date2013-09-30TaxPeriodEndDate

Preparer Firm PreparerFirm

FieldValueIRS element (for citing)
EIN010494526EIN

Preparer Firm Business Name PreparerFirmBusinessName

FieldValueIRS element (for citing)
Business Name Line1Baker Newman & NoyesBusinessNameLine1

Preparer Firm US Address PreparerFirmUSAddress

FieldValueIRS element (for citing)
Address Line1PO Box 507AddressLine1
CityPortlandCity
StateMEState
ZIP Code04112ZIPCode
FieldValueIRS element (for citing)
Return Type990ReturnType
Tax Period Begin Date2012-10-01TaxPeriodBeginDate

Filer Filer

FieldValueIRS element (for citing)
EIN020404239EIN

Name Name

FieldValueIRS element (for citing)
Business Name Line1Granite State Management and ResourcesBusinessNameLine1
FieldValueIRS element (for citing)
Name ControlGRANNameControl
Phone6032255867Phone

US Address USAddress

FieldValueIRS element (for citing)
Address Line14 Barrell Court PO Box 2087AddressLine1
CityConcordCity
StateNHState
ZIP Code033022087ZIPCode

Officer Officer

FieldValueIRS element (for citing)
NameRENE A DROUINName
TitlePresident & CEOTitle
Phone6032255867Phone
Date Signed2014-02-13DateSigned

Preparer Preparer

FieldValueIRS element (for citing)
NameNicholas E PortoName
PTINP01310283PTIN
Phone2078792100Phone
FieldValueIRS element (for citing)
Tax Year2012TaxYear
Build TS2015-11-30 17:44:51ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Name Of Principal Officer PersonRene A DrouinNameOfPrincipalOfficerPerson

Address Principal Officer US AddressPrincipalOfficerUS

FieldValueIRS element (for citing)
Address Line14 Barrell Court PO Box 2087AddressLine1
CityConcordCity
StateNHState
ZIP Code033022087ZIPCode
FieldValueIRS element (for citing)
Gross Receipts31007242GrossReceipts
Group Return For Affiliates0GroupReturnForAffiliates
Organization501c3XOrganization501c3
Web Sitewww.gsmr.orgWebSite
Type Of Organization CorporationXTypeOfOrganizationCorporation
Year Formation1986YearFormation
State Legal DomicileNHStateLegalDomicile
Activity Or Mission DescriptionAdministrator/servicer of student loansActivityOrMissionDescription
Nbr Voting Members Governing Body8NbrVotingMembersGoverningBody
Nbr Independent Voting Members8NbrIndependentVotingMembers
Total Nbr Employees179TotalNbrEmployees
Total Nbr Volunteers8TotalNbrVolunteers
Total Gross UBI0TotalGrossUBI
Net Unrelated Business Txbl Income0NetUnrelatedBusinessTxblIncome
Contributions Grants Prior Year920115ContributionsGrantsPriorYear
Contributions Grants Current Year870737ContributionsGrantsCurrentYear
Program Service Revenue Prior Year14780123ProgramServiceRevenuePriorYear
Program Service Revenue CY18017014ProgramServiceRevenueCY
Investment Income Prior Year1756315InvestmentIncomePriorYear
Investment Income Current Year1664486InvestmentIncomeCurrentYear
Other Revenue Prior Year22843OtherRevenuePriorYear
Other Revenue Current Year34268OtherRevenueCurrentYear
Total Revenue Prior Year17479396TotalRevenuePriorYear
Total Revenue Current Year20586505TotalRevenueCurrentYear
Grants And Similar Amnts Prior Year274651GrantsAndSimilarAmntsPriorYear
Grants And Similar Amnts CY77500GrantsAndSimilarAmntsCY
Benefits Paid To Members Prior Year0BenefitsPaidToMembersPriorYear
Benefits Paid To Members CY0BenefitsPaidToMembersCY
Salaries Etc Prior Year10474616SalariesEtcPriorYear
Salaries Etc Current Year12542560SalariesEtcCurrentYear
Total Prof Fundrsng Exp Prior Year0TotalProfFundrsngExpPriorYear
Total Prof Fundrsng Exp CY0TotalProfFundrsngExpCY
Total Fundrsng Exp Current Year0TotalFundrsngExpCurrentYear
Other Expense Prior Year5207711OtherExpensePriorYear
Other Expenses Current Year7930534OtherExpensesCurrentYear
Total Expenses Prior Year15956978TotalExpensesPriorYear
Total Expenses Current Year20550594TotalExpensesCurrentYear
Revenues Less Expenses Prior Year1522418RevenuesLessExpensesPriorYear
Revenues Less Expenses CY35911RevenuesLessExpensesCY
Total Assets BOY47053579TotalAssetsBOY
Total Assets EOY47698308TotalAssetsEOY
Total Liabilities BOY4202426TotalLiabilitiesBOY
Total Liabilities EOY4389687TotalLiabilitiesEOY
Net Assets Or Fund Balances BOY42851153NetAssetsOrFundBalancesBOY
Net Assets Or Fund Balances EOY43308621NetAssetsOrFundBalancesEOY
Mission DescriptionAdministrator/servicer of student loansMissionDescription
Significant New Program Services0SignificantNewProgramServices
Significant Change0SignificantChange
Expense2172508Expense
Grants77500Grants
Revenue2346667Revenue
DescriptionAdminister the guaranteed student loan program in the state of NH in cooperation with NH lenders and secondary markets.Description

Activity2 Activity2

FieldValueIRS element (for citing)
Expense14147372Expense
Grants0Grants
Revenue14441025Revenue
DescriptionService education loan programsDescription

Activity3 Activity3

FieldValueIRS element (for citing)
Expense1060184Expense
Grants0Grants
Revenue1263590Revenue
DescriptionAdminister the loan origination program for NH Higher Education Loan CorporationDescription
FieldValueIRS element (for citing)
Total Program Service Expense17380064TotalProgramServiceExpense
Described In501 C31DescribedIn501C3
Schedule B Required1ScheduleBRequired
Political Activities0PoliticalActivities
Lobbying Activities0LobbyingActivities
Subject To Proxy Tax0SubjectToProxyTax
Donor Advised Funds0DonorAdvisedFunds
Conservation Easements0ConservationEasements
Collections Of Art0CollectionsOfArt
Credit Counseling0CreditCounseling
Term Or Permanent Endowments0TermOrPermanentEndowments
Report Land Bldg Equip1ReportLandBldgEquip
Report Invest Oth Securities0ReportInvestOthSecurities
Report Prog Rel Invest0ReportProgRelInvest
Report Other Assets0ReportOtherAssets
Report Other Liabilities1ReportOtherLiabilities
Report Fin48 Footnote1ReportFin48Footnote
Independent Audit Financial Stmt1IndependentAuditFinancialStmt
Consolidated Audit Financial Stmt0ConsolidatedAuditFinancialStmt
School0School
Foreign Office0ForeignOffice
Foreign Activities0ForeignActivities
More Than5000 K To Organizations0MoreThan5000KToOrganizations
More Than5000 K To Individuals0MoreThan5000KToIndividuals
Professional Fundraising0ProfessionalFundraising
Fundraising Activities0FundraisingActivities
Gaming0Gaming
Hospital0Hospital
Grants To Organizations0GrantsToOrganizations
Grants To Individuals1GrantsToIndividuals
Schedule J Required1ScheduleJRequired
Tax Exempt Bonds0TaxExemptBonds
Excess Benefit Transaction0ExcessBenefitTransaction
Prior Excess Benefit Transaction0PriorExcessBenefitTransaction
Loan To Officer Or DQP0LoanToOfficerOrDQP
Grant To Related Person0GrantToRelatedPerson
Bsnss Rltnshp With Organization1BsnssRltnshpWithOrganization
Bsnss Rltnshp Thru Family Member0BsnssRltnshpThruFamilyMember
Officer Entity With Bsnss Rltnshp0OfficerEntityWithBsnssRltnshp
Deductible Non Cash Contributions0DeductibleNonCashContributions
Deductible Contributions Of Art0DeductibleContributionsOfArt
Terminated0Terminated
Partial Liquidation0PartialLiquidation
Disregarded Entity0DisregardedEntity
Related Entity1RelatedEntity
Related Org Controlled Entity0RelatedOrgControlledEntity
Transfers To Exempt Non Chrtbl Org0TransfersToExemptNonChrtblOrg
Activities Conducted Partnership0ActivitiesConductedPartnership
Schedule O Required1ScheduleORequired
Number Forms Transmitted With109657187NumberFormsTransmittedWith1096
Number W2 G Included0NumberW2GIncluded
Compliance With Backup Witholding1ComplianceWithBackupWitholding
Number Of Employees179NumberOfEmployees
Employment Tax Returns Filed1EmploymentTaxReturnsFiled
Unrelated Business Income0UnrelatedBusinessIncome
Foreign Financial Account0ForeignFinancialAccount
Prohibited Tax Shelter Trans0ProhibitedTaxShelterTrans
Taxable Party Notification0TaxablePartyNotification
Non Deductible Contributions0NonDeductibleContributions
Quid Pro Quo Contributions0QuidProQuoContributions
Form8282 Property Disposed Of0Form8282PropertyDisposedOf
Funds To Pay Premiums0FundsToPayPremiums
Premiums Paid0PremiumsPaid
Indoor Tanning Services0IndoorTanningServices
Info In Schedule O Part VIXInfoInScheduleOPartVI
Nbr Voting Governing Body Members8NbrVotingGoverningBodyMembers
Number Independent Voting Members8NumberIndependentVotingMembers
Family Or Business Relationship0FamilyOrBusinessRelationship
Delegation Of Management Duties0DelegationOfManagementDuties
Changes To Organizing Docs0ChangesToOrganizingDocs
Material Diversion Or Misuse0MaterialDiversionOrMisuse
Members Or Stockholders0MembersOrStockholders
Election Of Board Members0ElectionOfBoardMembers
Decisions Subject To Approval0DecisionsSubjectToApproval
Minutes Of Governing Body1MinutesOfGoverningBody
Minutes Of Committees1MinutesOfCommittees
Officer Mailing Address0OfficerMailingAddress
Local Chapters0LocalChapters
Form990 Provided To Governing Body1Form990ProvidedToGoverningBody
Conflict Of Interest Policy1ConflictOfInterestPolicy
Annual Disclosure Covered Persons1AnnualDisclosureCoveredPersons
Regular Monitoring Enforcement1RegularMonitoringEnforcement
Whistleblower Policy1WhistleblowerPolicy
Document Retention Policy1DocumentRetentionPolicy
Compensation Process CEO1CompensationProcessCEO
Compensation Process Other1CompensationProcessOther
Investment In Joint Venture0InvestmentInJointVenture
States Where Copy Of Return Is FiledNHStatesWhereCopyOfReturnIsFiled
Upon RequestXUponRequest

The Books Are In Care Of TheBooksAreInCareOf

Name Business NameBusiness

FieldValueIRS element (for citing)
Business Name Line1Dean GrondinBusinessNameLine1
FieldValueIRS element (for citing)
Telephone Number6032255867TelephoneNumber

Address US AddressUS

FieldValueIRS element (for citing)
Address Line14 Barrell CourtAddressLine1
CityConcordCity
StateNHState
ZIP Code03301ZIPCode

Form990 Part VII Section A Form990PartVIISectionA (16 entries)

TitleTitleAverage Hours Per WeekAverageHoursPerWeekIndividual Trustee Or DirectorIndividualTrusteeOrDirectorReportable Comp From OrganizationReportableCompFromOrganizationReportable Comp From Related OrgsReportableCompFromRelatedOrgsOther CompensationOtherCompensationOfficerOfficerAverage Hours Per Week RelatedAverageHoursPerWeekRelatedHighest Compensated EmployeeHighestCompensatedEmployee
Clinton Hanson Jr
Trustee0.20X000
Brad Poznanski
Trustee0.20X000
Charles Rolecek
Trustee0.20X000
Robert Tuveson
Trustee0.20X000
Cornelius Joyce
Chair0.20X000X
Gerald Little
Vice Chair0.20X000X
Anthony Chismark
Treasurer0.20X000X
Thomas Horgan
Secretary0.20X000X
Rene A Drouin
President & CEO22.00476938049094X18.00
Dean Grondin
Vice Pres & CFO30.00220620029356X10.00
Jason Golden
Vice Pres & CIO40.00157185037128X
Christine B Williams
SVP Servicing Operations40.00145497022386X
Kris Bellerose
VP Human Resources40.00122550033354X
Rob Woodburn
AVP Software Development40.00113213019600X
Tara Payne
VP Marketing40.00110283032219X
Anthony McBee
AVP Info Security & Eng40.00113804019445X
FieldValueIRS element (for citing)
Total Reportable Comp From Org1460090TotalReportableCompFromOrg
Total Reportable Comp Frm Rltd Orgs0TotalReportableCompFrmRltdOrgs
Total Other Compensation242582TotalOtherCompensation
Number Individuals GT100 K9NumberIndividualsGT100K
Formers Listed0FormersListed
Total Comp GT150 K1TotalCompGT150K
Compensation From Other Sources0CompensationFromOtherSources

Contractor Compensation ContractorCompensation (5 entries)

Address Line1AddressOfContractor/AddressUS/AddressLine1CityAddressOfContractor/AddressUS/CityStateAddressOfContractor/AddressUS/StateZIP CodeAddressOfContractor/AddressUS/ZIPCodeDescription Of ServicesDescriptionOfServicesCompensationCompensation
Nelnet Servicing
PO Box 82561LincolnNE68501Loan Servicing2331919
Baker Newman Noyes
PO Box 507PortlandME04112Auditing/Tax Services340906
Credit Control Services
PO Box 464NeedhamMA02494Collection services243625
Interactive Intelligence
PO Box 660316IndianapolisIN46266Telephone software services143419
Sungard Availability Services
9123 Collection Center DriveChicagoIL60693Disaster recovery services133630
FieldValueIRS element (for citing)
Number Of Contractors GT100 K5NumberOfContractorsGT100K
Government Grants850737GovernmentGrants
All Other Contributions20000AllOtherContributions
Total Contributions870737TotalContributions

Program Service Revenue ProgramServiceRevenue (2 entries)

DescriptionDescriptionBusiness CodeBusinessCodeTotal Revenue ColumnTotalRevenueColumnRelated Or Exempt Function IncomeRelatedOrExemptFunctionIncome
Service fees5610001489231414892314
Contracted services56100031247003124700
FieldValueIRS element (for citing)
Total Program Service Revenue18017014TotalProgramServiceRevenue

Investment Income InvestmentIncome

FieldValueIRS element (for citing)
Total Revenue Column1112887TotalRevenueColumn
Exclusion$1,112,887ExclusionAmount

Gross Amount Sales Assets GrossAmountSalesAssets

FieldValueIRS element (for citing)
Securities10972336Securities

Less Cost Oth Basis Sales Expenses LessCostOthBasisSalesExpenses

FieldValueIRS element (for citing)
Securities10420737Securities

Gain Or Loss GainOrLoss

FieldValueIRS element (for citing)
Securities551599Securities

Net Gain Or Loss Investments NetGainOrLossInvestments

FieldValueIRS element (for citing)
Total Revenue Column551599TotalRevenueColumn
Exclusion$551,599ExclusionAmount

Miscellaneous Revenue MiscellaneousRevenue

FieldValueIRS element (for citing)
Total Revenue Column34268TotalRevenueColumn
Related Or Exempt Function Income34268RelatedOrExemptFunctionIncome
FieldValueIRS element (for citing)
Total Other Revenue34268TotalOtherRevenue

Total Revenue TotalRevenue

FieldValueIRS element (for citing)
Total Revenue Column20586505TotalRevenueColumn
Related Or Exempt Function Income18051282RelatedOrExemptFunctionIncome
Unrelated Business Revenue0UnrelatedBusinessRevenue
Exclusion$1,664,486ExclusionAmount

Grants To Domestic Individuals GrantsToDomesticIndividuals

FieldValueIRS element (for citing)
Total77500Total
Program Services77500ProgramServices

Comp Current Officers Directors CompCurrentOfficersDirectors

FieldValueIRS element (for citing)
Total970321Total
Management And General970321ManagementAndGeneral

Other Salaries And Wages OtherSalariesAndWages

FieldValueIRS element (for citing)
Total8451394Total
Program Services8113339ProgramServices
Management And General338055ManagementAndGeneral

Pension Plan Contributions PensionPlanContributions

FieldValueIRS element (for citing)
Total515965Total
Program Services412773ProgramServices
Management And General103192ManagementAndGeneral

Other Employee Benefits OtherEmployeeBenefits

FieldValueIRS element (for citing)
Total1783215Total
Program Services1515733ProgramServices
Management And General267482ManagementAndGeneral

Payroll Taxes PayrollTaxes

FieldValueIRS element (for citing)
Total821665Total
Program Services698415ProgramServices
Management And General123250ManagementAndGeneral

Fees For Services Legal FeesForServicesLegal

FieldValueIRS element (for citing)
Total207691Total
Management And General207691ManagementAndGeneral

Fees For Services Accounting FeesForServicesAccounting

FieldValueIRS element (for citing)
Total276031Total
Management And General276031ManagementAndGeneral

Fees For Services Invst Mgmnt Fees FeesForServicesInvstMgmntFees

FieldValueIRS element (for citing)
Total133287Total
Program Services79972ProgramServices
Management And General53315ManagementAndGeneral

Advertising Advertising

FieldValueIRS element (for citing)
Total159386Total
Program Services146635ProgramServices
Management And General12751ManagementAndGeneral

Office Expenses OfficeExpenses

FieldValueIRS element (for citing)
Total2848331Total
Program Services2563498ProgramServices
Management And General284833ManagementAndGeneral

Information Technology InformationTechnology

FieldValueIRS element (for citing)
Total2328707Total
Program Services2264583ProgramServices
Management And General64124ManagementAndGeneral

Occupancy Occupancy

FieldValueIRS element (for citing)
Total633856Total
Program Services507085ProgramServices
Management And General126771ManagementAndGeneral

Travel Travel

FieldValueIRS element (for citing)
Total91687Total
Program Services73350ProgramServices
Management And General18337ManagementAndGeneral

Depreciation Depletion DepreciationDepletion

FieldValueIRS element (for citing)
Total837246Total
Program Services669797ProgramServices
Management And General167449ManagementAndGeneral

Insurance Insurance

FieldValueIRS element (for citing)
Total189867Total
Program Services132907ProgramServices
Management And General56960ManagementAndGeneral

All Other Expenses AllOtherExpenses

FieldValueIRS element (for citing)
Total224445Total
Program Services124477ProgramServices
Management And General99968ManagementAndGeneral

Total Functional Expenses TotalFunctionalExpenses

FieldValueIRS element (for citing)
Total20550594Total
Program Services17380064ProgramServices
Management And General3170530ManagementAndGeneral
Fundraising0Fundraising

Cash Non Interest Bearing CashNonInterestBearing

FieldValueIRS element (for citing)
BOY0BOY
EOY0EOY

Savings And Temp Cash Investments SavingsAndTempCashInvestments

FieldValueIRS element (for citing)
BOY2344292BOY
EOY1350047EOY

Accounts Receivable AccountsReceivable

FieldValueIRS element (for citing)
BOY1597837BOY
EOY1414384EOY

Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges

FieldValueIRS element (for citing)
BOY455501BOY
EOY363677EOY
FieldValueIRS element (for citing)
Land Buildings Equipment Basis13518553LandBuildingsEquipmentBasis
Land Bldg Equipment Accum Deprec8011257LandBldgEquipmentAccumDeprec

Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet

FieldValueIRS element (for citing)
BOY5721807BOY
EOY5507296EOY

Investments Pub Traded Securities InvestmentsPubTradedSecurities

FieldValueIRS element (for citing)
BOY36715263BOY
EOY38863605EOY

Other Assets Total OtherAssetsTotal

FieldValueIRS element (for citing)
BOY218879BOY
EOY199299EOY

Total Assets TotalAssets

FieldValueIRS element (for citing)
BOY47053579BOY
EOY47698308EOY

Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses

FieldValueIRS element (for citing)
BOY3202426BOY
EOY3389687EOY

Other Liabilities OtherLiabilities

FieldValueIRS element (for citing)
BOY1000000BOY
EOY1000000EOY

Total Liabilities TotalLiabilities

FieldValueIRS element (for citing)
BOY4202426BOY
EOY4389687EOY
FieldValueIRS element (for citing)
Follow SFAS117XFollowSFAS117

Unrestricted Net Assets UnrestrictedNetAssets

FieldValueIRS element (for citing)
BOY42851153BOY
EOY43308621EOY

Total Net Assets Fund Balances TotalNetAssetsFundBalances

FieldValueIRS element (for citing)
BOY42851153BOY
EOY43308621EOY

Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances

FieldValueIRS element (for citing)
BOY47053579BOY
EOY47698308EOY
FieldValueIRS element (for citing)
Reconcilation Revenue Expenses35911ReconcilationRevenueExpenses
Reconciliation Unrealized Invest421557ReconciliationUnrealizedInvest
Reconcilation Other Changes0ReconcilationOtherChanges
Method Of Accounting AccrualXMethodOfAccountingAccrual
Accountant Compile Or Review0AccountantCompileOrReview
FS Audited1FSAudited

FS Audited Basis FSAuditedBasis

FieldValueIRS element (for citing)
Financial Statement SeparateXFinancialStatementSeparate
FieldValueIRS element (for citing)
Audit Committee1AuditCommittee
Federal Grant Audit Required1FederalGrantAuditRequired
Federal Grant Audit Performed1FederalGrantAuditPerformed

Schedule A IRS990ScheduleA

FieldValueIRS element (for citing)
Publicly Supported Org509a2XPubliclySupportedOrg509a2

Gifts Grants Contrib Received509 GiftsGrantsContribReceived509

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years10000CurrentTaxYearMinus4Years
Current Tax Year Minus3 Years15500CurrentTaxYearMinus3Years
Current Tax Year Minus2 Years829568CurrentTaxYearMinus2Years
Current Tax Year Minus1 Year920115CurrentTaxYearMinus1Year
Current Tax Year870737CurrentTaxYear
Total2645920Total

Gross Receipts From Admissions GrossReceiptsFromAdmissions

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years23822731CurrentTaxYearMinus4Years
Current Tax Year Minus3 Years21995052CurrentTaxYearMinus3Years
Current Tax Year Minus2 Years15927088CurrentTaxYearMinus2Years
Current Tax Year Minus1 Year14802965CurrentTaxYearMinus1Year
Current Tax Year18051282CurrentTaxYear
Total94599118Total

Total509 Total509

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years23832731CurrentTaxYearMinus4Years
Current Tax Year Minus3 Years22010552CurrentTaxYearMinus3Years
Current Tax Year Minus2 Years16756656CurrentTaxYearMinus2Years
Current Tax Year Minus1 Year15723080CurrentTaxYearMinus1Year
Current Tax Year18922019CurrentTaxYear
Total97245038Total

Amts Recd From Disqual Persons AmtsRecdFromDisqualPersons

FieldValueIRS element (for citing)
Total0Total

Amts From Subst Contributors AmtsFromSubstContributors

FieldValueIRS element (for citing)
Total0Total

Support From DQ Ps Etc SupportFromDQPsEtc

FieldValueIRS element (for citing)
Total0Total
FieldValueIRS element (for citing)
Public Support Total50997245038PublicSupportTotal509

Gross Investment Income509 GrossInvestmentIncome509

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years1068894CurrentTaxYearMinus4Years
Current Tax Year Minus3 Years1081841CurrentTaxYearMinus3Years
Current Tax Year Minus2 Years1062729CurrentTaxYearMinus2Years
Current Tax Year Minus1 Year1145874CurrentTaxYearMinus1Year
Current Tax Year1112887CurrentTaxYear
Total5472225Total

Investment Income And UBTI InvestmentIncomeAndUBTI

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years1068894CurrentTaxYearMinus4Years
Current Tax Year Minus3 Years1081841CurrentTaxYearMinus3Years
Current Tax Year Minus2 Years1062729CurrentTaxYearMinus2Years
Current Tax Year Minus1 Year1145874CurrentTaxYearMinus1Year
Current Tax Year1112887CurrentTaxYear
Total5472225Total

Total Support Total TotalSupportTotal

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years24901625CurrentTaxYearMinus4Years
Current Tax Year Minus3 Years23092393CurrentTaxYearMinus3Years
Current Tax Year Minus2 Years17819385CurrentTaxYearMinus2Years
Current Tax Year Minus1 Year16868954CurrentTaxYearMinus1Year
Current Tax Year20034906CurrentTaxYear
Total102717263Total
FieldValueIRS element (for citing)
Public Support Percentage5090.94670PublicSupportPercentage509
Prior Year Support Percentage0.94850PriorYearSupportPercentage
Investment Income Percentage0.05330InvestmentIncomePercentage
Prior Yr Invest Income Percentage0.05150PriorYrInvestIncomePercentage
Thirty Three Percnt Tests CY509XThirtyThreePercntTestsCY509

Schedule B IRS990ScheduleB

Contributor Info ContributorInfo

FieldValueIRS element (for citing)
Contributor NumberRESTRICTEDContributorNumber

Contributor Name Business ContributorNameBusiness

FieldValueIRS element (for citing)
Business Name Line1RESTRICTEDBusinessNameLine1

Contributor Address US ContributorAddressUS

FieldValueIRS element (for citing)
Address Line1RESTRICTEDAddressLine1
Address Line2RESTRICTEDAddressLine2
CityRESTRICTEDCity
StateRESTRICTEDState
ZIP CodeRESTRICTEDZIPCode
FieldValueIRS element (for citing)
Aggregate ContributionsRESTRICTEDAggregateContributions

Schedule D IRS990ScheduleD

Land Land

FieldValueIRS element (for citing)
Other Cost Or Other Basis687587OtherCostOrOtherBasis
Book Value687587BookValue

Buildings Buildings

FieldValueIRS element (for citing)
Other Cost Or Other Basis8872642OtherCostOrOtherBasis
Depreciation4919894Depreciation
Book Value3952748BookValue

Equipment Equipment

FieldValueIRS element (for citing)
Other Cost Or Other Basis3958324OtherCostOrOtherBasis
Depreciation3091363Depreciation
Book Value866961BookValue
FieldValueIRS element (for citing)
Total Of Book Value Land Buildings5507296TotalOfBookValueLandBuildings

Other Liabilities OtherLiabilities

FieldValueIRS element (for citing)
DescriptionReserve for loan lossesDescription
Amount$1,000,000Amount
FieldValueIRS element (for citing)
Total Of Amounts1000000TotalOfAmounts
Footnote In Part XIIIXFootnoteInPartXIII
Tot Revenue Etc Audited Fincl Stmt21008062TotRevenueEtcAuditedFinclStmt
Net Unrealized Gains Investments421557NetUnrealizedGainsInvestments
Revenue Not Rptd F990421557RevenueNotRptdF990
Revenue Subtotal20586505RevenueSubtotal
Revenue Not Rptd On Fin Stmt0RevenueNotRptdOnFinStmt
Total Revenue Per Form99020586505TotalRevenuePerForm990
Tot Expenses Etc Audited Fincl Stmt20550594TotExpensesEtcAuditedFinclStmt
Expenses Not Rptd F9900ExpensesNotRptdF990
Expenses Subtotal20550594ExpensesSubtotal
Expenses Not Rptd On Fin Stmt0ExpensesNotRptdOnFinStmt
Total Expenses Per Form99020550594TotalExpensesPerForm990

Form990 Schedule D Part XIII Form990ScheduleDPartXIII

FieldValueIRS element (for citing)
IdentifierDescription of Uncertain Tax Positions Under FIN 48:Identifier
Return ReferencePart X, Line 2:ReturnReference
ExplanationThe Company has received a determination letter from the Internal Revenue Service (IRS) stating that it qualifies for tax-exempt status under Section 501(c)(3) of the Internal Revenue Code (the Code). Accordingly, no provisions 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, 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.Explanation

Schedule I IRS990ScheduleI

FieldValueIRS element (for citing)
Records Maintained1RecordsMaintained

Form990 Schedule I Part III Form990ScheduleIPartIII (2 entries)

Type Of GrantTypeOfGrantNumber Of RecipientsNumberOfRecipientsAmount Of Cash GrantAmountOfCashGrant
Scholarships1041500
Incentive Awards3636000

Form990 Schedule I Part IV Form990ScheduleIPartIV

FieldValueIRS element (for citing)
IdentifierProcedure for Monitoring Grants in the U.S.:Identifier
Return ReferencePart I, Line 2:ReturnReference
ExplanationSchedule I, Part I, Line 2: In order to ensure that the scholarship or incentive award recipient is using the funds for direct educational expenses at the Title IV institutions, the following procedures are in place: 1) verification of attendance at a Title IV institution 2) verification of eligibility for federal financial aid through submission of the student aid report 3) checks are not released until we have received confirmation of enrollment for the academic period for which the scholarship or incentive award was granted 4) once the enrollment status is confirmed, a check is requested made payable to the postsecondary institution and the student. (In this way, the program is assured that the funds were used for direct educational expenses and not for purposes unintended by the program.)Explanation

Schedule J IRS990ScheduleJ

FieldValueIRS element (for citing)
Compensation CommitteeXCompensationCommittee
Independent ConsultantXIndependentConsultant
Form990 Of Other OrganizationsXForm990OfOtherOrganizations
Compensation SurveyXCompensationSurvey
Board Or Committee ApprovalXBoardOrCommitteeApproval
Severance Payment0SeverancePayment
Supplemental Nonqual Retire Plan0SupplementalNonqualRetirePlan
Equity Based Comp Arrangement0EquityBasedCompArrangement
Comp Based On Revenue Of Filing Org0CompBasedOnRevenueOfFilingOrg
Comp Based On Revenue Related Orgs0CompBasedOnRevenueRelatedOrgs
Comp Based Net Earnings Filing Org0CompBasedNetEarningsFilingOrg
Comp Based Net Earnings Relate Orgs0CompBasedNetEarningsRelateOrgs
Any Non Fixed Payments1AnyNonFixedPayments
Initial Contract Exception0InitialContractException

Form990 Schedule J Part II Form990ScheduleJPartII (5 entries)

TitleTitleBase Compensation Filing OrgBaseCompensationFilingOrgComp Based On Related OrgsCompBasedOnRelatedOrgsBonus Filing OrgBonusFilingOrgBonus Related OrgsBonusRelatedOrgsOther Compensation Filing OrgOtherCompensationFilingOrgOther Compensation Related OrgsOtherCompensationRelatedOrgsDeferred Comp Filing OrgDeferredCompFilingOrgDeferred Comp Related OrgsDeferredCompRelatedOrgsNontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgNontaxable Benefits Related OrgsNontaxableBenefitsRelatedOrgsTotal Compensation Filing OrgTotalCompensationFilingOrgTotal Compensation Related OrgsTotalCompensationRelatedOrgsComp Report Prior990 Filing OrgCompReportPrior990FilingOrgComp Report Prior990 Related OrgsCompReportPrior990RelatedOrgs
Rene A Drouin
President & CEO3470810867500431070298280192660526032000
Dean Grondin
Vice Pres & CFO18532002750007800020841085150249976000
Jason Golden
Vice Pres & CIO1479150900002700160440210840194313000
Christine B Williams
SVP Servicing Operations136797082500450013998083880167883000
Kris Bellerose
VP Human Resources1133500875004500122970210570155904000

Form990 Schedule J Part III Form990ScheduleJPartIII

FieldValueIRS element (for citing)
Return ReferencePart I, Line 7ReturnReference
ExplanationPerformance-based variable compensation, which is subject to review and paid annually.Explanation

Schedule L IRS990ScheduleL

Form990 Schedule L Part IV Form990ScheduleLPartIV

Name Of Interested Person NameOfInterestedPerson

FieldValueIRS element (for citing)
Name PersonAnthony ChismarkNamePerson
FieldValueIRS element (for citing)
RelationshipGSMR Trustee and Senior Vice President with Centrix Bank; see section (dRelationship
Amount Of Transaction0AmountOfTransaction
Description Of TransactionMr. Chismark is a trustee of Granite State Management and Resources and an executive at Centrix Bank. GSMR maintains its checking accounts with Centrix Bank. Transactions during the fiscal year were in excess of $10,000. An exact figure cannot be stated due to daily account activity and balance changes. All transactions with Centrix Bank are at fair market value. Mr. Chismark has been classified as an independent board member.DescriptionOfTransaction
Sharing Of Revenues0SharingOfRevenues

Schedule O IRS990ScheduleO

General Explanation GeneralExplanation (4 entries)

Return ReferenceReturnReferenceExplanationExplanation
Form 990, Part VI, Section B, line 11A copy of the Form 990 was emailed to the board before filing. Board members had the opportunity to review the form and ask questions or request 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 B, line 15An internal review of salaries is conducted by Human Resources Management using salary surveys from local and national resources to compare salaries for positions in the organization to local market data. The compensation structure is adjusted based on the results of these reviews. An independent compensation consultant reviewed the salaries of Executives and Vice Presidents to ensure the compensation structure was administered appropriately and to propose changes as needed. A salary review of the organization was conducted by an independent Affirmative Action consultant to ensure the compensation was administered appropriately and to propose changes as needed. For CEO compensation, the independent compensation consultant conducted an independent review of CEO salaries as it relates to organizations of GSM&R's size, structure, and composition of assets. The firm then indicated its opinion of the CEO's compensation package to the Chairman of the Board of GSM&R as well as the Chairman of the Compensation Committee.
Form 990, Part VI, Section C, line 19The organization will make its governing documents, conflict of interest policy, and financial statements available to the public upon request.

Schedule R IRS990ScheduleR

Form990 Schedule R Part II Form990ScheduleRPartII (3 entries)

Address Line1AddressUS/AddressLine1CityAddressUS/CityStateAddressUS/StateZIP CodeAddressUS/ZIPCodeEINEINPrimary ActivitiesPrimaryActivitiesLegal Domicile StateLegalDomicileStateExempt Code SectionExemptCodeSectionPublic Charity StatusPublicCharityStatusDirect Controlling Entity NADirectControllingEntityNAControlled OrgControlledOrgBusiness Name Line1DirectControllingEntityName/BusinessNameLine1
New Hampshire Higher Education Assistance Foundation
4 Barrell CourtConcordNH03302026007687Student loan guarantorNH501(c)(3)Line 9N/A0
New Hampshire Higher Education Loan Corporation
4 Barrell CourtConcordNH03302020368776Financial assistance to eligible borrowersNH501(c)(3)Line 11b, IIN/A0
NHHEAF Network Education Foundation
4 Barrell CourtConcordNH03302300289044Grants and scholarshipsNH501(c)(3)PF0New Hampshire Higher Education Loan Corporation
FieldValueIRS element (for citing)
Receipt Of Int Ann Rents Royalties0ReceiptOfIntAnnRentsRoyalties
Gift Grant Or Cap Contr To Other Org0GiftGrantOrCapContrToOtherOrg
Gift Grant Or Cap Contr Fr Other Org0GiftGrantOrCapContrFrOtherOrg
Loans Or Guarantees To Other Org0LoansOrGuaranteesToOtherOrg
Loans Or Guarantees From Other Org0LoansOrGuaranteesFromOtherOrg
Dividends Related Organization0DividendsRelatedOrganization
Sale Of Assets To Other Org0SaleOfAssetsToOtherOrg
Purchase Of Assets From Other Org0PurchaseOfAssetsFromOtherOrg
Exchange Of Assets0ExchangeOfAssets
Rental Of Facilities To Other Orgs0RentalOfFacilitiesToOtherOrgs
Rental Of Facilities Fr Other Orgs0RentalOfFacilitiesFrOtherOrgs
Perform Of Services For Other Orgs1PerformOfServicesForOtherOrgs
Perform Of Services By Other Orgs0PerformOfServicesByOtherOrgs
Sharing Of Facilities0SharingOfFacilities
Sharing Of Paid Employees0SharingOfPaidEmployees
Reimbursement Paid To Other Org0ReimbursementPaidToOtherOrg
Reimbursement Paid By Other Org0ReimbursementPaidByOtherOrg
Other Transfer To Other Org0OtherTransferToOtherOrg
Other Transfer From Other Org0OtherTransferFromOtherOrg

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