2013-02-13T11:01:59-06:00 2012-09-30 010494526 Baker Newman & Noyes LLC PO Box 507 Portland ME 04112 990 2011-10-01 020368776 New Hampshire Higher Education Loan Corporation NHHI 6032265829 4 Barrell Court PO Box 2111 Concord NH 03302 Rene A Drouin 6032265829 2013-02-13 1 E Drew Cheney P00182972 2078792100 2011 2016-02-25 16:41:14Z Rene A Drouin 4 Barrell Court PO Box 2111 Concord NH 03302 68122947 0 X www.nhhelco.org X 1983 NH Financial assistance to eligible borrowers 6 6 0 6 0 0 0 0 54915940 50505689 1632169 1432337 90084037 0 146632146 51938026 0 0 0 0 0 0 0 0 0 58004696 52051091 58004696 52051091 88627450 -113065 1160116531 1016677936 967256444 820042726 192860087 196635210 Financial assistance to eligible borrowers 0 0 50719143 50505689 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. 50719143 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 6 0 1 0 0 0 0 0 0 0 0 0 0 0 X 6 6 1 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 Daniel Dubreuil 0.20 X X 0 0 0 Harvey Hill 0.20 X X 0 0 0 Linda Normandin 0.20 X X 0 0 0 Susan Howard 0.20 X 0 0 0 Peter Burger 0.20 X 0 0 0 Tim Sink 0.20 X 0 0 0 Neil Castaldo resigned 22012 0.20 X 0 0 0 Rene A Drouin 0.20 X 0 479445 48844 Dean Grondin 0.20 X 0 262594 29356 0 742039 78200 0 0 1 0 Granite State Management & Resources 4 Barrell Court PO Box 2087 Concord NH 033022087 13003255 1 Interest student loans 525990 42710458 42710458 Government contracts 525990 3952557 3952557 DL Service Fee Revenue 525990 2174296 2174296 Late charges & other 525990 929745 929745 Guarantee fees 525990 738633 738633 50505689 1056632 1056632 16560626 16184921 375705 375705 375705 51938026 50505689 0 1432337 89361 89361 64974 64974 132493 132493 13063997 12018877 1045120 27650 27650 18533 18533 10824168 10824168 Student loan allowances 13314068 13314068 Consolidation loan fees 4881996 4881996 Provision for est. loss 3929378 3929378 Bond administration exp 2213241 2213241 3491232 3491232 52051091 50719143 1331948 0 16858567 28431030 1277578 1387942 1094375631 935577162 5489544 4920641 32435114 38193242 9680097 8167919 1160116531 1016677936 346239 2100376 1590772 852138 10000000 9081000 948876090 801369805 6443343 6639407 967256444 820042726 X 192860087 196635210 192860087 196635210 1160116531 1016677936 X -113065 3888188 X 0 1 1 X 1 1 X X X 0 0 0 GSMR 020404239 9 0 0 1 13003255 NHHEAF 026007687 9 0 0 1 0 2 13003255 0 Accrued interest payable 1343062 Fees payable to U.S. government 3399457 Due to related entities 1363247 Arbitrage earnings payable 533641 6639407 51938026 52051091 -113065 3888188 3888188 3775123 42512146 3888188 3888188 38623958 13314068 13314068 51938026 38737023 0 38737023 13314068 13314068 52051091 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 (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, 2012 or 2011. The Company's tax years after 2008 are open and subject to examination. Part XII, Line 4b - Other Adjustments: Student loan allowances 13,314,068. Part XIII, Line 4b - Other Adjustments: Student loan allowances 13,314,068. X X X X X 0 0 0 0 0 0 0 0 0 Rene A Drouin 0 347081 0 89250 0 43114 0 29578 0 19266 0 528289 0 0 Dean Grondin 0 177674 0 77500 0 7420 0 20841 0 8515 0 291950 0 0 NHHEFA 020279866 644614P45 2011-08-24 10000000 Student loans 0 0 0 10000000 75000 74556 9850444 2011 1 0 0 1 0 0 0 0 0.00000 0.00000 0.00000 1 0 1 0 0 0 0 Form 990, Part VI, Section A, line 2 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 A, line 3 Mr. Castaldo and Mr. Hill, who both served on the board of directors, have a business relationship. Mr. Castaldo resigned from the board in February 2012. Form 990, Part VI, Section B, line 11 The organization contracts with Granite State Management & Resources, a related entity, for its management services. 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. Changes in Net Assets or Fund Balances: Form 990, Part XI, line 5: Net unrealized gains on investments: 3,888,188. 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 1 0 0 0 0 0 0