NORTHSTAR EDUCATION FINANCE INC: Form 990, tax year 2012
View the entire original 990 at ProPublica ↗
- Organization
- NORTHSTAR EDUCATION FINANCE INC (EIN 41-1961427)
- Tax period
- 2012-10-01 to 2013-09-30
- Filed
- 2014-02-15
- IRS object ID
- 201440509349300224
- 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
| Field | Value | IRS element (for citing) |
|---|---|---|
| Timestamp | 2014-02-15T13:05:30-06:00 | Timestamp |
| Tax Period End Date | 2013-09-30 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 390859910 | EIN |
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | BAKER TILLY VIRCHOW KRAUSE LLP | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 225 S 6TH ST STE 2300 | AddressLine1 |
| City | MINNEAPOLIS | City |
| State | MN | State |
| ZIP Code | 55402 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2012-10-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 411961427 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | NORTHSTAR EDUCATION FINANCE INC | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | NORT | NameControl |
| Phone | 8665626672 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 930 BLUE GENTIAN ROAD NO 100 | AddressLine1 |
| City | EAGAN | City |
| State | MN | State |
| ZIP Code | 551211678 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | RICHARD NIGON | Name |
| Title | PRESIDENT AND CEO | Title |
| Phone | 8665626672 | Phone |
| Date Signed | 2014-02-10 | DateSigned |
| Authorize Third Party | 1 | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | LAWRENCE H MOHR CPA | Name |
| PTIN | P00447603 | PTIN |
| Phone | 6128764500 | Phone |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2012 | TaxYear |
| Build TS | 2015-11-30 17:44:51Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Change | X | AddressChange |
| Name Of Principal Officer Person | RICHARD NIGON | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 930 BLUE GENTIAN ROAD NO 100 | AddressLine1 |
| City | EAGAN | City |
| State | MN | State |
| ZIP Code | 551211678 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 113955498 | GrossReceipts |
| Group Return For Affiliates | 0 | GroupReturnForAffiliates |
| Organization501c3 | X | Organization501c3 |
| Web Site | WWW.NORTHSTAR.ORG | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 2000 | YearFormation |
| State Legal Domicile | DE | StateLegalDomicile |
| Activity Or Mission Description | TO FOSTER, AID, ENCOURAGE AND ASSIST THE PURSUIT OF HIGHER EDUCATION. | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 7 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 4 | NbrIndependentVotingMembers |
| Total Nbr Employees | 1 | TotalNbrEmployees |
| Total Nbr Volunteers | 0 | TotalNbrVolunteers |
| Total Gross UBI | 0 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | 0 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Prior Year | 0 | ContributionsGrantsPriorYear |
| Contributions Grants Current Year | 0 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 117489173 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 109851123 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 152838 | InvestmentIncomePriorYear |
| Investment Income Current Year | 4097729 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 0 | OtherRevenuePriorYear |
| Other Revenue Current Year | 6646 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 117642011 | TotalRevenuePriorYear |
| Total Revenue Current Year | 113955498 | TotalRevenueCurrentYear |
| Grants And Similar Amnts Prior Year | 0 | GrantsAndSimilarAmntsPriorYear |
| Grants And Similar Amnts CY | 0 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members Prior Year | 0 | BenefitsPaidToMembersPriorYear |
| Benefits Paid To Members CY | 0 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 138982 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 140865 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp Prior Year | 0 | TotalProfFundrsngExpPriorYear |
| Total Prof Fundrsng Exp CY | 0 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 0 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 95767237 | OtherExpensePriorYear |
| Other Expenses Current Year | 96568006 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 95906219 | TotalExpensesPriorYear |
| Total Expenses Current Year | 96708871 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | 21735792 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | 17246627 | RevenuesLessExpensesCY |
| Total Assets BOY | 4532934422 | TotalAssetsBOY |
| Total Assets EOY | 4182875674 | TotalAssetsEOY |
| Total Liabilities BOY | 4350044566 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 3982739191 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 182889856 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 200136483 | NetAssetsOrFundBalancesEOY |
| Info In Schedule O Part III | X | InfoInScheduleOPartIII |
| Mission Description | TO FOSTER, AID, ENCOURAGE AND ASSIST THE PURSUIT OF HIGHER EDUCATION. IN SUPPORTING THIS MISSION, NEF'S PRIMARY CHARITABLE GOALS ARE TO (A) CONTINUE SERVICING ITS OUTSTANDING STUDENT LOANS; (B) CONTINUE TO PROVIDE EDUCATION AND ASSISTANCE TO STUDENT BORROWERS TO ENABLE THEM TO SUCCESSFULLY REPAY THEIR LOANS; (C) MANAGE ITS FINANCINGS AS NECESSARY TO MAXIMIZE THE T.H.E. BONUS PAID TO STUDENT BORROWERS; AND (D) MAKE GRANTS TO OTHER ORGANIZATIONS IN FURTHERANCE OF ITS EDUCATIONAL MISSION | MissionDescription |
| Significant New Program Services | 0 | SignificantNewProgramServices |
| Significant Change | 0 | SignificantChange |
| Expense | 94842845 | Expense |
| Revenue | 109857769 | Revenue |
| Description | MANAGED APPROXIMATELY 233,000 STUDENT LOANS WITH OUTSTANDING BALANCES TOTALING APPROXIMATELY $3,907,000,000, AS WELL AS A SERIES OF STUDENT LOAN ASSET-BACKED NOTES TOTALING APPROXIMATELY $3,962,000,000. TO THE BEST OF THE KNOWLEDGE AND BELIEF OF THE TAXPAYER'S OFFICERS, THE BENEFITS AND INTEREST RATES THAT IT PROVIDES TO STUDENT BORROWERS ARE SUBSTANTIALLY MORE FAVORABLE TO STUDENT BORROWERS THAN THE BENEFITS AND INTEREST RATES PROVIDED BY FOR-PROFIT LENDERS. | Description |
| Total Program Service Expense | 94842845 | TotalProgramServiceExpense |
| Described In501 C3 | 1 | DescribedIn501C3 |
| Schedule B Required | 0 | ScheduleBRequired |
| Political Activities | 0 | PoliticalActivities |
| Lobbying Activities | 0 | LobbyingActivities |
| Subject To Proxy Tax | 0 | SubjectToProxyTax |
| Donor Advised Funds | 0 | DonorAdvisedFunds |
| Conservation Easements | 0 | ConservationEasements |
| Collections Of Art | 0 | CollectionsOfArt |
| Credit Counseling | 0 | CreditCounseling |
| Term Or Permanent Endowments | 1 | TermOrPermanentEndowments |
| Report Land Bldg Equip | 0 | ReportLandBldgEquip |
| Report Invest Oth Securities | 0 | ReportInvestOthSecurities |
| Report Prog Rel Invest | 0 | ReportProgRelInvest |
| Report Other Assets | 0 | ReportOtherAssets |
| Report Other Liabilities | 1 | ReportOtherLiabilities |
| Report Fin48 Footnote | 1 | ReportFin48Footnote |
| Independent Audit Financial Stmt | 0 | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | 1 | ConsolidatedAuditFinancialStmt |
| School | 0 | School |
| Foreign Office | 0 | ForeignOffice |
| Foreign Activities | 0 | ForeignActivities |
| More Than5000 K To Organizations | 0 | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividuals |
| Professional Fundraising | 0 | ProfessionalFundraising |
| Fundraising Activities | 0 | FundraisingActivities |
| Gaming | 0 | Gaming |
| Hospital | 0 | Hospital |
| Grants To Organizations | 0 | GrantsToOrganizations |
| Grants To Individuals | 0 | GrantsToIndividuals |
| Schedule J Required | 0 | ScheduleJRequired |
| Tax Exempt Bonds | 0 | TaxExemptBonds |
| Excess Benefit Transaction | 0 | ExcessBenefitTransaction |
| Prior Excess Benefit Transaction | 0 | PriorExcessBenefitTransaction |
| Loan To Officer Or DQP | 0 | LoanToOfficerOrDQP |
| Grant To Related Person | 0 | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | 0 | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | 0 | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | 0 | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | 0 | DeductibleNonCashContributions |
| Deductible Contributions Of Art | 0 | DeductibleContributionsOfArt |
| Terminated | 0 | Terminated |
| Partial Liquidation | 0 | PartialLiquidation |
| Disregarded Entity | 1 | DisregardedEntity |
| Related Entity | 0 | RelatedEntity |
| Related Org Controlled Entity | 0 | RelatedOrgControlledEntity |
| Transfers To Exempt Non Chrtbl Org | 0 | TransfersToExemptNonChrtblOrg |
| Activities Conducted Partnership | 0 | ActivitiesConductedPartnership |
| Schedule O Required | 1 | ScheduleORequired |
| Number Forms Transmitted With1096 | 54 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Number Of Employees | 1 | NumberOfEmployees |
| Employment Tax Returns Filed | 1 | EmploymentTaxReturnsFiled |
| Unrelated Business Income | 0 | UnrelatedBusinessIncome |
| Foreign Financial Account | 0 | ForeignFinancialAccount |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTrans |
| Taxable Party Notification | 0 | TaxablePartyNotification |
| Non Deductible Contributions | 0 | NonDeductibleContributions |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributions |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOf |
| Funds To Pay Premiums | 0 | FundsToPayPremiums |
| Premiums Paid | 0 | PremiumsPaid |
| Indoor Tanning Services | 0 | IndoorTanningServices |
| Info In Schedule O Part VI | X | InfoInScheduleOPartVI |
| Nbr Voting Governing Body Members | 7 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 4 | NumberIndependentVotingMembers |
| Family Or Business Relationship | 0 | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | 1 | DelegationOfManagementDuties |
| Changes To Organizing Docs | 0 | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuse |
| Members Or Stockholders | 0 | MembersOrStockholders |
| Election Of Board Members | 0 | ElectionOfBoardMembers |
| Decisions Subject To Approval | 0 | DecisionsSubjectToApproval |
| Minutes Of Governing Body | 1 | MinutesOfGoverningBody |
| Minutes Of Committees | 1 | MinutesOfCommittees |
| Officer Mailing Address | 0 | OfficerMailingAddress |
| Local Chapters | 0 | LocalChapters |
| Form990 Provided To Governing Body | 1 | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | 1 | ConflictOfInterestPolicy |
| Annual Disclosure Covered Persons | 1 | AnnualDisclosureCoveredPersons |
| Regular Monitoring Enforcement | 1 | RegularMonitoringEnforcement |
| Whistleblower Policy | 1 | WhistleblowerPolicy |
| Document Retention Policy | 1 | DocumentRetentionPolicy |
| Compensation Process CEO | 1 | CompensationProcessCEO |
| Compensation Process Other | 1 | CompensationProcessOther |
| Investment In Joint Venture | 0 | InvestmentInJointVenture |
| States Where Copy Of Return Is Filed | MN | StatesWhereCopyOfReturnIsFiled |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
Name Business NameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | JOHN SCHWINGLER - EXT 3532 | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Telephone Number | 8885025902 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 930 BLUE GENTIAN ROAD STE 100 | AddressLine1 |
| City | EAGAN | City |
| State | MN | State |
| ZIP Code | 551211678 | ZIPCode |
Form990 Part VII Section A Form990PartVIISectionA (7 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Individual Trustee Or DirectorIndividualTrusteeOrDirector | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation | OfficerOfficer |
|---|---|---|---|---|---|---|
| JUDITH MARES | ||||||
| BOARD MEMBER | 1.00 | X | 18000 | 0 | 0 | |
| CLYDE NELSON | ||||||
| TREASURER | 1.00 | X | 19491 | 0 | 0 | X |
| RICHARD NIGON | ||||||
| PRESIDENT AND CEO | 1.00 | X | 50000 | 0 | 0 | X |
| ANITA PAMPUSCH | ||||||
| BOARD CHAIR | 1.00 | X | 16000 | 0 | 0 | |
| JAYNE KHALIFA | ||||||
| BOARD MEMBER | 1.00 | X | 16000 | 0 | 0 | |
| TIM PENNY | ||||||
| BOARD MEMBER | 1.00 | X | 18000 | 0 | 0 | |
| SARAH DUNIWAY | ||||||
| SECRETARY | 1.00 | 0 | 0 | 0 | X | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 137491 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 0 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 0 | TotalOtherCompensation |
| Number Individuals GT100 K | 0 | NumberIndividualsGT100K |
| Formers Listed | 0 | FormersListed |
| Total Comp GT150 K | 0 | TotalCompGT150K |
| Compensation From Other Sources | 0 | CompensationFromOtherSources |
Contractor Compensation ContractorCompensation (5 entries)
| Address Line1AddressOfContractor/AddressUS/AddressLine1 | CityAddressOfContractor/AddressUS/City | StateAddressOfContractor/AddressUS/State | ZIP CodeAddressOfContractor/AddressUS/ZIPCode | Description Of ServicesDescriptionOfServices | CompensationCompensation |
|---|---|---|---|---|---|
| NORTHSTAR CAPITAL MARKETS SERVICES INC | |||||
| 1021 OLD YORK ROAD | ABINGTON | PA | 19001 | MANAGEMENT SERVICES | 21232075 |
| RBC CAPITAL MARKETS | |||||
| 2398 E CAMELBACK ROAD SUITE 700 | PHOENIX | AZ | 85016 | UNDERWRITING/ CREDIT SERVICES | 4739820 |
| GREAT LAKES HIGHER EDUCATIONAL LOAN SERV | |||||
| 2401 INTERNATIONAL LANE | MADISON | WI | 53704 | LOAN SERVICING | 3004778 |
| CITIBANK | |||||
| 388 GREENWICH STREET 19TH FL | NEW YORK | NY | 10013 | CREDIT SERVICES | 2837266 |
| CHAPMAN AND CUTLER | |||||
| 111 WEST MONROE STREET | CHICAGO | IL | 60603 | LEGAL FEES | 527524 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of Contractors GT100 K | 12 | NumberOfContractorsGT100K |
Program Service Revenue ProgramServiceRevenue (3 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome |
|---|---|---|---|
| LOAN INTEREST INCOME | 525990 | 108270549 | 108270549 |
| DEFAULT COLLECTION | 525990 | 1316447 | 1316447 |
| MOHELA FEE REVENUE | 525990 | 264127 | 264127 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 109851123 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 111020 | TotalRevenueColumn |
| Exclusion | $111,020 | ExclusionAmount |
Gross Amount Sales Assets GrossAmountSalesAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | 3986709 | Other |
Less Cost Oth Basis Sales Expenses LessCostOthBasisSalesExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | 0 | Other |
Gain Or Loss GainOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | 3986709 | Other |
Net Gain Or Loss Investments NetGainOrLossInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 3986709 | TotalRevenueColumn |
| Exclusion | $3,986,709 | ExclusionAmount |
Other Revenue Misc OtherRevenueMisc
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | OTHER REVENUE | Description |
| Business Code | 900099 | BusinessCode |
| Total Revenue Column | 6646 | TotalRevenueColumn |
| Related Or Exempt Function Income | 6646 | RelatedOrExemptFunctionIncome |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Revenue | 6646 | TotalOtherRevenue |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 113955498 | TotalRevenueColumn |
| Related Or Exempt Function Income | 109857769 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 0 | UnrelatedBusinessRevenue |
| Exclusion | $4,097,729 | ExclusionAmount |
Comp Current Officers Directors CompCurrentOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 140865 | Total |
| Management And General | 140865 | ManagementAndGeneral |
Fees For Services Legal FeesForServicesLegal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 204480 | Total |
| Management And General | 204480 | ManagementAndGeneral |
Fees For Services Accounting FeesForServicesAccounting
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 116610 | Total |
| Management And General | 116610 | ManagementAndGeneral |
Fees For Services Other FeesForServicesOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 63012 | Total |
| Management And General | 63012 | ManagementAndGeneral |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 753 | Total |
| Management And General | 753 | ManagementAndGeneral |
Travel Travel
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 8022 | Total |
| Management And General | 8022 | ManagementAndGeneral |
Interest Interest
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 31821651 | Total |
| Program Services | 31821651 | ProgramServices |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1183626 | Total |
| Management And General | 1183626 | ManagementAndGeneral |
Insurance Insurance
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 100518 | Total |
| Management And General | 100518 | ManagementAndGeneral |
Other Expenses OtherExpenses (4 entries)
| DescriptionDescription | TotalTotal | Program ServicesProgramServices |
|---|---|---|
| LOAN SERVICING & CONS. | 48264749 | 48264749 |
| PVT.& FED. LOAN DEFAULT | 6661132 | 6661132 |
| DEBT FINANCING FEES | 4180183 | 4180183 |
| T.H.E. BONUS EXPENSE | 3419753 | 3419753 |
All Other Expenses AllOtherExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 543517 | Total |
| Program Services | 495377 | ProgramServices |
| Management And General | 48140 | ManagementAndGeneral |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 96708871 | Total |
| Program Services | 94842845 | ProgramServices |
| Management And General | 1866026 | ManagementAndGeneral |
| Fundraising | 0 | Fundraising |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 17811512 | BOY |
| EOY | 184375 | EOY |
Savings And Temp Cash Investments SavingsAndTempCashInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 125875570 | BOY |
| EOY | 133008264 | EOY |
Accounts Receivable AccountsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 9201237 | BOY |
| EOY | 9936660 | EOY |
Other Notes Loans Receivable Net OtherNotesLoansReceivableNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 4207201874 | BOY |
| EOY | 4025725372 | EOY |
Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 56155 | BOY |
| EOY | 66650 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 172788074 | BOY |
| EOY | 13954353 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 4532934422 | BOY |
| EOY | 4182875674 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 23066055 | BOY |
| EOY | 18218668 | EOY |
Mort Notes Pybl Secured Invest Prop MortNotesPyblSecuredInvestProp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 4325277538 | BOY |
| EOY | 3962023808 | EOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1700973 | BOY |
| EOY | 2496715 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 4350044566 | BOY |
| EOY | 3982739191 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Follow SFAS117 | X | FollowSFAS117 |
Unrestricted Net Assets UnrestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 182889856 | BOY |
| EOY | 200136483 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 182889856 | BOY |
| EOY | 200136483 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 4532934422 | BOY |
| EOY | 4182875674 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expenses | 17246627 | ReconcilationRevenueExpenses |
| Reconcilation Other Changes | 0 | ReconcilationOtherChanges |
| Info In Schedule O Part XII | X | InfoInScheduleOPartXII |
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | 0 | AccountantCompileOrReview |
| FS Audited | 1 | FSAudited |
FS Audited Basis FSAuditedBasis
| Field | Value | IRS element (for citing) |
|---|---|---|
| Financial Statement Consolidated | X | FinancialStatementConsolidated |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | 1 | AuditCommittee |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequired |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Publicly Supported Org509a2 | X | PubliclySupportedOrg509a2 |
Gross Receipts From Admissions GrossReceiptsFromAdmissions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 225004292 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 178095343 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 142162313 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 117489173 | CurrentTaxYearMinus1Year |
| Current Tax Year | 109857769 | CurrentTaxYear |
| Total | 772608890 | Total |
Total509 Total509
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 225004292 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 178095343 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 142162313 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 117489173 | CurrentTaxYearMinus1Year |
| Current Tax Year | 109857769 | CurrentTaxYear |
| Total | 772608890 | Total |
Amts Recd From Disqual Persons AmtsRecdFromDisqualPersons
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 16438 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 15419 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 8375 | CurrentTaxYearMinus2Years |
| Total | 40232 | Total |
Amts From Subst Contributors AmtsFromSubstContributors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Support From DQ Ps Etc SupportFromDQPsEtc
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 16438 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 15419 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 8375 | CurrentTaxYearMinus2Years |
| Total | 40232 | Total |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Support Total509 | 772568658 | PublicSupportTotal509 |
Gross Investment Income509 GrossInvestmentIncome509
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 1683175 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 409482 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 259934 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 152838 | CurrentTaxYearMinus1Year |
| Current Tax Year | 111020 | CurrentTaxYear |
| Total | 2616449 | Total |
Investment Income And UBTI InvestmentIncomeAndUBTI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 1683175 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 409482 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 259934 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 152838 | CurrentTaxYearMinus1Year |
| Current Tax Year | 111020 | CurrentTaxYear |
| Total | 2616449 | Total |
Total Support Total TotalSupportTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 226687467 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 178504825 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 142422247 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 117642011 | CurrentTaxYearMinus1Year |
| Current Tax Year | 109968789 | CurrentTaxYear |
| Total | 775225339 | Total |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Support Percentage509 | 0.99660 | PublicSupportPercentage509 |
| Prior Year Support Percentage | 0.98940 | PriorYearSupportPercentage |
| Investment Income Percentage | 0.00340 | InvestmentIncomePercentage |
| Prior Yr Invest Income Percentage | 0.01050 | PriorYrInvestIncomePercentage |
| Thirty Three Percnt Tests CY509 | X | ThirtyThreePercntTestsCY509 |
Schedule D IRS990ScheduleD
Current Year CurrentYear
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributions | 8000000 | Contributions |
| End Of Year Balance | 8000000 | EndOfYearBalance |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Board Designated EOY Balance | 1.00000 | BoardDesignatedEOYBalance |
| Endowments Held By Unrelated Orgs | 0 | EndowmentsHeldByUnrelatedOrgs |
| Endowments Held By Related Orgs | 0 | EndowmentsHeldByRelatedOrgs |
| Total Of Book Value Land Buildings | 0 | TotalOfBookValueLandBuildings |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | LAWSUIT RELATED LIABILITIES | Description |
| Amount | $2,496,715 | Amount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Amounts | 2496715 | TotalOfAmounts |
| Footnote In Part XIII | X | FootnoteInPartXIII |
| Tot Revenue Etc Audited Fincl Stmt | 113437563 | TotRevenueEtcAuditedFinclStmt |
| Revenue Not Rptd F990 | 0 | RevenueNotRptdF990 |
| Revenue Subtotal | 113437563 | RevenueSubtotal |
| Other Revenues Not Included | 517935 | OtherRevenuesNotIncluded |
| Revenue Not Rptd On Fin Stmt | 517935 | RevenueNotRptdOnFinStmt |
| Total Revenue Per Form990 | 113955498 | TotalRevenuePerForm990 |
| Tot Expenses Etc Audited Fincl Stmt | 96190936 | TotExpensesEtcAuditedFinclStmt |
| Expenses Not Rptd F990 | 0 | ExpensesNotRptdF990 |
| Expenses Subtotal | 96190936 | ExpensesSubtotal |
| Other Expenses Not Included | 517935 | OtherExpensesNotIncluded |
| Expenses Not Rptd On Fin Stmt | 517935 | ExpensesNotRptdOnFinStmt |
| Total Expenses Per Form990 | 96708871 | TotalExpensesPerForm990 |
Form990 Schedule D Part XIII Form990ScheduleDPartXIII (4 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: | PART V, LINE 4: | THE BOARD-DESIGNATED ENDOWMENT FUND WAS ESTABLISHED TO SUPPORT THE ORGANIZATION'S GRANT-MAKING ACTIVITIES. |
| DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: | PART X, LINE 2: | MANAGEMENT ACCOUNTS FOR UNCERTAINTY IN INCOME TAXES BASED ON A THRESHOLD OF MORE-LIKELY THAN-NOT FOR RECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. THE COMPANY HAS NO UNCERTAIN TAX POSITIONS MEETING THE THRESHOLD. FEDERAL RETURNS FOR THE TAX YEARS ENDED 2009, 2010, 2011 AND 2012 REMAIN SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE. |
| PART XI, LINE 4B - OTHER ADJUSTMENTS: | MISSOURI HIGHER EDUCATION LOAN AUTHORITY (MOHELA) SERVICING EXPENSES 495,377. OTHER EXPENSES 22,558. | |
| PART XII, LINE 4B - OTHER ADJUSTMENTS: | MISSOURI HIGHER EDUCATION LOAN AUTHORITY (MOHELA) SERVICING EXPENSES 495,377. OTHER EXPENSES 22,558. |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (6 entries)
| Return ReferenceReturnReference | ExplanationExplanation |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 3 | PURSUANT TO AMENDED AND RESTATED SUBSERVICING AGREEMENT BETWEEN NORTHSTAR EDUCATION FINANCE, INC. AND NORTHSTAR EDUCATION SERVICES, LLC ("NES") DATED OCTOBER 25, 2012, NES IS PERFORMING CERTAIN MANAGEMENT RESPONSIBILITIES ON BEHALF OF NORTHSTAR EDUCATION FINANCE, INC. |
| FORM 990, PART VI, SECTION B, LINE 11 | IN CONJUNCTION WITH ITS EXTERNAL ACCOUNTING FIRM AND THE AUDIT COMMITTEE OF THE BOARD, ALL THE INFORMATION ON THE FORM 990 ARE RECONCILED TO THE GAAP AUDITED FINANCIAL STATEMENTS AND THE VARIOUS FORM 990 QUESTIONS REVIEWED FOR COMPLETENESS. THE ENTIRE BOARD REVIEWS AND APPROVES THE FORM 990 BEFORE FILING WITH THE IRS. |
| FORM 990, PART VI, SECTION B, LINE 12C | THE ORGANIZATION HAS AN ANNUAL REVIEW OF THE CONFLICT OF INTEREST POLICY. |
| FORM 990, PART VI, SECTION B, LINE 15 | COMPENSATION FOR THE ORGANIZATION'S PRESIDENT AND CEO AND ALL OTHER OFFICERS IS APPROVED BY THE BOARD WITHOUT THE PARTICIPATION OF THE INTERESTED INDIVIDUALS AND BASED UPON COMPARABLE DATA. |
| FORM 990, PART VI, SECTION C, LINE 19 | FINANCIAL STATEMENTS ARE AVAILABLE ON THE ORGANIZATION'S WEBSITE AT WWW.NORTHSTAR.ORG. THE ORGANIZATION DOES NOT MAKE ITS GOVERNING DOCUMENTS OR CONFLICT OF INTEREST POLICY AVAILABLE UNLESS REQUIRED BY LAW. |
| FORM 990, PART XII, LINE 2C | THE ORGANIZATION DID NOT CHANGE ITS OVERSIGHT OR SELECTION PROCESS FOR THE AUDIT OF ITS FINANCIAL STATEMENTS. |
Schedule R IRS990ScheduleR
Form990 Schedule R Part I Form990ScheduleRPartI (2 entries)
| Address Line1AddressUS/AddressLine1 | CityAddressUS/City | StateAddressUS/State | ZIP CodeAddressUS/ZIPCode | Primary ActivitiesPrimaryActivities | Legal Domicile StateLegalDomicileState | Total IncomeTotalIncome | EOY AssetsEOYAssets | Business Name Line1DirectControllingEntityName/BusinessNameLine1 |
|---|---|---|---|---|---|---|---|---|
| NORTHSTAR EDUCATION FUNDING I LLC | ||||||||
| 930 BLUE GENTIAN ROAD 100 | EAGAN | MN | 55121 | FINANCING HIGHER EDUCATION | DE | 6676 | 0 | NORTHSTAR EDUCATION FINANCE INC |
| NORTHSTAR THE FUNDING III LLC | ||||||||
| 930 BLUE GENTIAN ROAD 100 | EAGAN | MN | 55121 | FINANCING HIGHER EDUCATION | DE | 17823 | 0 | NORTHSTAR EDUCATION FINANCE INC |
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