2013-02-13T11:01:59-06:00 2012-09-30 010494526 Baker Newman & Noyes PO Box 507 Portland ME 04112 990 2011-10-01 020404239 Granite State Management and Resources GRAN 6032255867 4 Barrell Court PO Box 2087 Concord NH 033022087 RENE A DROUIN 6032255867 2013-02-13 E Drew Cheney P00182972 2078792100 2011 2016-03-07 17:11:31Z Rene A Drouin 4 Barrell Court PO Box 2087 Concord NH 033022087 32806964 0 X www.gsmr.org X 1986 NH Administrator/servicer of student loans 8 8 154 8 0 0 829568 920115 15678563 14780123 1709443 1756315 248525 22843 18466099 17479396 186500 274651 0 0 10702742 10474616 0 0 0 6434183 5207711 17323425 15956978 1142674 1522418 43821545 47053579 3982136 4202426 39839409 42851153 Administrator/servicer of student loans 0 0 1622775 274651 1924385 Administer the guaranteed student loan program in the state of NH in cooperation with NH lenders and secondary markets. 10553965 11842372 Service education loan programs 787300 1036209 Administer the loan origination program for NH Higher Education Loan Corporation 12964040 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 0 1 75934 0 1 154 1 0 0 0 0 0 0 0 0 0 0 X 8 8 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NH X Dean Grondin 6032255867 4 Barrell Court Concord NH 03301 Cornelius Joyce 0.20 X X 0 0 0 Gerald Little 0.20 X X 0 0 0 Thomas Horgan 0.20 X X 0 0 0 Anthony Chismark 0.20 X X 0 0 0 Brad Poznanski 0.20 X 0 0 0 Charles Rolecek 0.20 X 0 0 0 Robert Tuveson 0.20 X 0 0 0 Clinton Hanson Jr 0.20 X 0 0 0 Rene A Drouin 40.00 X 479445 0 48844 Dean Grondin 40.00 X 262594 0 29356 Jason Golden 40.00 X 174353 0 37128 Christine B Williams 40.00 X 162445 0 22386 Kris Bellerose 40.00 X 144419 0 33354 Rob Woodburn 40.00 X 110437 0 19600 Tara Payne 40.00 X 108472 0 32219 Anthony McBee 40.00 X 103752 0 19445 1545917 0 242332 9 0 1 0 Nelnet5280 Solutions Inc 8740 Lucent Blvd Highlands Ranch CO 80129 Software maintenance 642808 Credit Control Services PO Box 464 Needham MA 02494 Collection services 242975 Baker Newman Noyes PO Box 507 Portland ME 04112 Auditing/tax 145875 Sungard Availability Services 9123 Collection Center Drive Chicago IL 60693 Disaster recovery services 135781 Interactive Intelligence PO Box 660316 Indianapolis IN 46266 Telephone software services 126310 5 899615 20500 920115 Service fees 561000 11917541 11917541 Contracted services 561000 2859100 2859100 Student loan interest 525990 3482 3482 14780123 1145874 1145874 15938009 15327568 610441 610441 610441 22843 22843 22843 17479396 14802966 0 1756315 274651 274651 1031717 1031717 6673831 6273401 400430 528840 423072 105768 1592106 1353290 238816 648122 550904 97218 225124 225124 157050 157050 147291 88375 58916 126779 116637 10142 1481746 1333571 148175 1364484 1228036 136448 596303 477042 119261 112282 89826 22456 825676 660541 165135 135277 94694 40583 35699 35699 15956978 12964040 2992938 0 1000 1000 2268397 2343292 1042357 1597837 565441 455501 14680385 8958578 6184183 5721807 33538948 36715263 221219 218879 43821545 47053579 2982136 3202426 1000000 1000000 3982136 4202426 X 39839409 42851153 39839409 42851153 43821545 47053579 X 1522418 1489326 X 0 1 1 X 1 1 X 10000 15500 829568 920115 1775183 26028994 23822731 21995052 15927088 14802965 102576830 26028994 23832731 22010552 16756656 15723080 104352013 0 0 0 104352013 1311451 1068894 1081841 1062729 1145874 5670789 1311451 1068894 1081841 1062729 1145874 5670789 27340445 24901625 23092393 17819385 16868954 110022802 0.94850 0.94980 0.05150 0.05020 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 687587 687587 8857312 4471484 4385828 5135486 4487094 648392 5721807 Reserve for loan losses 1000000 1000000 17479396 15956978 1522418 1489326 1489326 3011744 18968722 1489326 1489326 17479396 0 17479396 15956978 0 15956978 0 15956978 Description of Uncertain Tax Positions Under FIN 48: Part X: 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, 2012 or 2011. The Company's tax years after 2008 are open and subject to examination. 1 SCHOLARSHIPS 10 50000 INCENTIVE AWARDS 156 224651 Procedure for Monitoring Grants in the U.S.: Part I, Line 2: Schedule 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.) X X X X X 0 0 0 0 0 0 0 1 0 Rene A Drouin 347081 0 89250 0 43114 0 29578 0 19266 0 528289 0 0 0 Dean Grondin 177674 0 77500 0 7420 0 20841 0 8515 0 291950 0 0 0 Jason Golden 139083 0 35000 0 270 0 16044 0 21084 0 211481 0 0 0 Christine B Williams 129745 0 32250 0 450 0 13998 0 8388 0 184831 0 0 0 Kris Bellerose 112719 0 31250 0 450 0 12297 0 21057 0 177773 0 0 0 Part I, Line 7 Performance-based variable compensation, which is subject to review and paid annually. Anthony Chismark GSMR Trustee and Senior Vice President with Centrix Bank; see section (d 0 Mr. Chismark is a trustee of GSM&R and an executive at Centrix Bank. GSM&R 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. 0 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 questions or request 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 B, line 15 An 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. In 2012, 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. In 2012, 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 19 The organization will make its governing documents, conflict of interest policy, and financial statements available to the public upon request. Changes in Net Assets or Fund Balances: Form 990, Part XI, line 5: Net unrealized gains on investments: 1,489,326. New Hampshire Higher Education Assistance Foundation 4 Barrell Court Concord NH 03302 026007687 Student loan guarantor NH 501(c)(3) Line 9 N/A 0 New Hampshire Higher Education Loan Corporation 4 Barrell Court Concord NH 03302 020368776 Financial assistance to eligible borrowers NH 501(c)(3) Line 11b, II N/A 0 NHHEAF Network Education Foundation 4 Barrell Court Concord NH 03302 300289044 Grants and scholarships NH 501(c)(3) PF New Hampshire Higher Education Loan Corporation 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0