NORTHSTAR GUARANTEE INC: Form 990, tax year 2012

View the entire original 990 at ProPublica ↗

Organization
NORTHSTAR GUARANTEE INC (EIN 41-1689095)
Tax period
2012-01-01 to 2012-12-31
Filed
2013-08-29
IRS object ID
201322419349300532
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)
Timestamp2013-08-29T12:21:48-05:00Timestamp
Tax Period End Date2012-12-31TaxPeriodEndDate

Preparer Firm PreparerFirm

Preparer Firm Business Name PreparerFirmBusinessName

FieldValueIRS element (for citing)
Business Name Line1ERNST & YOUNG US LLPBusinessNameLine1

Preparer Firm US Address PreparerFirmUSAddress

FieldValueIRS element (for citing)
Address Line1111 MONUMENT CIRCLE SUITE 2600AddressLine1
CityINDIANAPOLISCity
StateINState
ZIP Code46204ZIPCode
FieldValueIRS element (for citing)
Return Type990ReturnType
Tax Period Begin Date2012-01-01TaxPeriodBeginDate

Filer Filer

FieldValueIRS element (for citing)
EIN411689095EIN

Name Name

FieldValueIRS element (for citing)
Business Name Line1NORTHSTAR GUARANTEE INCBusinessNameLine1
FieldValueIRS element (for citing)
In Care Of Name% NANCY SEIFERTInCareOfName
Name ControlNORTNameControl
Phone6082461410Phone

US Address USAddress

FieldValueIRS element (for citing)
Address Line12401 International LaneAddressLine1
Address Line2SuiteAddressLine2
CityMadisonCity
StateWIState
ZIP Code53704ZIPCode

Officer Officer

FieldValueIRS element (for citing)
NameRichard D GeorgeName
TitlePRESIDENT & CEOTitle
Date Signed2013-08-27DateSigned

Preparer Preparer

FieldValueIRS element (for citing)
Phone3176817000Phone
FieldValueIRS element (for citing)
Tax Year2012TaxYear
Build TS2016-02-24 21:20:13ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Name Of Principal Officer PersonRichard D GeorgeNameOfPrincipalOfficerPerson

Address Principal Officer US AddressPrincipalOfficerUS

FieldValueIRS element (for citing)
Address Line12401 International LaneAddressLine1
CityMadisonCity
StateWIState
ZIP Code53704ZIPCode
FieldValueIRS element (for citing)
Gross Receipts3713969GrossReceipts
Group Return For AffiliatesfalseGroupReturnForAffiliates
Organization501c3XOrganization501c3
Web Sitewww.mygreatlakes.orgWebSite
Type Of Organization CorporationXTypeOfOrganizationCorporation
Year Formation1990YearFormation
State Legal DomicileMNStateLegalDomicile
Activity Or Mission DescriptionNORTHSTAR GUARANTEE's EXEMPT LENDING ROLE IS IN MAKING AND/OR HOLDING OF STUDENT LOANS TO POSTSECONDARY EDUCATION STUDENTS AND TO THEIR PARENTS IN ACCORDANCE WITH THE FEDERAL FAMILY EDUCATION LOAN PROGRAM.ActivityOrMissionDescription
Nbr Voting Members Governing Body6NbrVotingMembersGoverningBody
Nbr Independent Voting Members5NbrIndependentVotingMembers
Total Nbr Employees0TotalNbrEmployees
Total Nbr Volunteers0TotalNbrVolunteers
Total Gross UBI0TotalGrossUBI
Contributions Grants Prior Year0ContributionsGrantsPriorYear
Contributions Grants Current Year0ContributionsGrantsCurrentYear
Program Service Revenue Prior Year3035476ProgramServiceRevenuePriorYear
Program Service Revenue CY3708658ProgramServiceRevenueCY
Investment Income Prior Year25132InvestmentIncomePriorYear
Investment Income Current Year5312InvestmentIncomeCurrentYear
Other Revenue Prior Year0OtherRevenuePriorYear
Other Revenue Current Year0OtherRevenueCurrentYear
Total Revenue Prior Year3060608TotalRevenuePriorYear
Total Revenue Current Year3713970TotalRevenueCurrentYear
Grants And Similar Amnts Prior Year0GrantsAndSimilarAmntsPriorYear
Grants And Similar Amnts CY0GrantsAndSimilarAmntsCY
Benefits Paid To Members Prior Year0BenefitsPaidToMembersPriorYear
Benefits Paid To Members CY0BenefitsPaidToMembersCY
Salaries Etc Prior Year25834SalariesEtcPriorYear
Salaries Etc Current Year27582SalariesEtcCurrentYear
Total Prof Fundrsng Exp Prior Year0TotalProfFundrsngExpPriorYear
Total Prof Fundrsng Exp CY0TotalProfFundrsngExpCY
Total Fundrsng Exp Current Year0TotalFundrsngExpCurrentYear
Other Expense Prior Year1491790OtherExpensePriorYear
Other Expenses Current Year1597024OtherExpensesCurrentYear
Total Expenses Prior Year1517624TotalExpensesPriorYear
Total Expenses Current Year1624606TotalExpensesCurrentYear
Revenues Less Expenses Prior Year1542984RevenuesLessExpensesPriorYear
Revenues Less Expenses CY2089364RevenuesLessExpensesCY
Total Assets BOY122228143TotalAssetsBOY
Total Assets EOY124283553TotalAssetsEOY
Total Liabilities BOY119154805TotalLiabilitiesBOY
Total Liabilities EOY119120851TotalLiabilitiesEOY
Net Assets Or Fund Balances BOY3073338NetAssetsOrFundBalancesBOY
Net Assets Or Fund Balances EOY5162702NetAssetsOrFundBalancesEOY
Mission DescriptionNORTHSTAR GUARANTEE INC.'S MISSION IS TO FOSTER, AID, ENCOURAGE AND ASSIST THE PURSUIT OF HIGHER EDUCATION. IN PARTICULAR, THE CORPORATION FACILITATES THE BROADER AVAILABILITY OF EDUCATIONAL LOANS TO STUDENTS BY, BUT NOT LIMITED TO, ACTING AS A LENDER OR AN ELIGIBLE LENDER (AS PROVIDED UNDER THE FEDERAL HIGHER EDUCATION ACT OF 1965, AS AMENDED) FOR SUCH LOANS. THIS MISSION STATEMENT HAS BEEN REVIEWED, ACKNOWLEDGED AND INFORMALLY APPROVED BY THE BOARD.MissionDescription
Significant New Program ServicesfalseSignificantNewProgramServices
Significant ChangefalseSignificantChange
Expense1548152Expense
Revenue3708658Revenue
DescriptionMaking and/or holding of student loans to postsecondary education students and to their parents in accordance with the Federal Family Education Loan Program established by Title IV, Part B of the Federal Higher Education Act of 1965, as amended.Description
Total Program Service Expense1548152TotalProgramServiceExpense
Described In501 C3trueDescribedIn501C3
Schedule B RequiredfalseScheduleBRequired
Political ActivitiesfalsePoliticalActivities
Lobbying ActivitiesfalseLobbyingActivities
Subject To Proxy TaxfalseSubjectToProxyTax
Donor Advised FundsfalseDonorAdvisedFunds
Conservation EasementsfalseConservationEasements
Collections Of ArtfalseCollectionsOfArt
Credit CounselingfalseCreditCounseling
Term Or Permanent EndowmentsfalseTermOrPermanentEndowments
Report Land Bldg EquipfalseReportLandBldgEquip
Report Invest Oth SecuritiesfalseReportInvestOthSecurities
Report Prog Rel InvestfalseReportProgRelInvest
Report Other AssetstrueReportOtherAssets
Report Other LiabilitiestrueReportOtherLiabilities
Report Fin48 FootnotefalseReportFin48Footnote
Independent Audit Financial StmtfalseIndependentAuditFinancialStmt
Consolidated Audit Financial StmttrueConsolidatedAuditFinancialStmt
SchoolfalseSchool
Foreign OfficefalseForeignOffice
Foreign ActivitiesfalseForeignActivities
More Than5000 K To OrganizationsfalseMoreThan5000KToOrganizations
More Than5000 K To IndividualsfalseMoreThan5000KToIndividuals
Professional FundraisingfalseProfessionalFundraising
Fundraising ActivitiesfalseFundraisingActivities
GamingfalseGaming
HospitalfalseHospital
Grants To OrganizationsfalseGrantsToOrganizations
Grants To IndividualsfalseGrantsToIndividuals
Schedule J RequiredtrueScheduleJRequired
Tax Exempt BondsfalseTaxExemptBonds
Excess Benefit TransactionfalseExcessBenefitTransaction
Prior Excess Benefit TransactionfalsePriorExcessBenefitTransaction
Loan To Officer Or DQPfalseLoanToOfficerOrDQP
Grant To Related PersonfalseGrantToRelatedPerson
Bsnss Rltnshp With OrganizationfalseBsnssRltnshpWithOrganization
Bsnss Rltnshp Thru Family MemberfalseBsnssRltnshpThruFamilyMember
Officer Entity With Bsnss RltnshptrueOfficerEntityWithBsnssRltnshp
Deductible Non Cash ContributionsfalseDeductibleNonCashContributions
Deductible Contributions Of ArtfalseDeductibleContributionsOfArt
TerminatedfalseTerminated
Partial LiquidationfalsePartialLiquidation
Disregarded EntityfalseDisregardedEntity
Related EntitytrueRelatedEntity
Related Org Controlled EntitytrueRelatedOrgControlledEntity
Transaction Related EntitytrueTransactionRelatedEntity
Transfers To Exempt Non Chrtbl OrgfalseTransfersToExemptNonChrtblOrg
Activities Conducted PartnershipfalseActivitiesConductedPartnership
Schedule O RequiredtrueScheduleORequired
Number Forms Transmitted With10966NumberFormsTransmittedWith1096
Number W2 G Included0NumberW2GIncluded
Compliance With Backup WitholdingtrueComplianceWithBackupWitholding
Number Of Employees0NumberOfEmployees
Unrelated Business IncomefalseUnrelatedBusinessIncome
Foreign Financial AccountfalseForeignFinancialAccount
Prohibited Tax Shelter TransfalseProhibitedTaxShelterTrans
Taxable Party NotificationfalseTaxablePartyNotification
Non Deductible ContributionsfalseNonDeductibleContributions
Quid Pro Quo ContributionsfalseQuidProQuoContributions
Form8282 Property Disposed OffalseForm8282PropertyDisposedOf
Funds To Pay PremiumsfalseFundsToPayPremiums
Premiums PaidfalsePremiumsPaid
Indoor Tanning ServicesfalseIndoorTanningServices
Info In Schedule O Part VIXInfoInScheduleOPartVI
Nbr Voting Governing Body Members6NbrVotingGoverningBodyMembers
Number Independent Voting Members5NumberIndependentVotingMembers
Family Or Business RelationshipfalseFamilyOrBusinessRelationship
Delegation Of Management DutiesfalseDelegationOfManagementDuties
Changes To Organizing DocsfalseChangesToOrganizingDocs
Material Diversion Or MisusefalseMaterialDiversionOrMisuse
Members Or StockholderstrueMembersOrStockholders
Election Of Board MemberstrueElectionOfBoardMembers
Decisions Subject To ApprovaltrueDecisionsSubjectToApproval
Minutes Of Governing BodytrueMinutesOfGoverningBody
Minutes Of CommitteestrueMinutesOfCommittees
Officer Mailing AddressfalseOfficerMailingAddress
Local ChaptersfalseLocalChapters
Form990 Provided To Governing BodytrueForm990ProvidedToGoverningBody
Conflict Of Interest PolicytrueConflictOfInterestPolicy
Annual Disclosure Covered PersonstrueAnnualDisclosureCoveredPersons
Regular Monitoring EnforcementtrueRegularMonitoringEnforcement
Whistleblower PolicytrueWhistleblowerPolicy
Document Retention PolicytrueDocumentRetentionPolicy
Compensation Process CEOfalseCompensationProcessCEO
Compensation Process OtherfalseCompensationProcessOther
Investment In Joint VenturefalseInvestmentInJointVenture
States Where Copy Of Return Is FiledMNStatesWhereCopyOfReturnIsFiled
Upon RequestXUponRequest

The Books Are In Care Of TheBooksAreInCareOf

FieldValueIRS element (for citing)
Name PersonNANCY SEIFERTNamePerson
Telephone Number6082461410TelephoneNumber

Address US AddressUS

FieldValueIRS element (for citing)
Address Line12401 INTERNATIONAL LANEAddressLine1
CityMadisonCity
StateWIState
ZIP Code53704ZIPCode
FieldValueIRS element (for citing)
Info In Schedule O Part VIIXInfoInScheduleOPartVII

Form990 Part VII Section A Form990PartVIISectionA (7 entries)

TitleTitleAverage Hours Per WeekAverageHoursPerWeekAverage Hours Per Week RelatedAverageHoursPerWeekRelatedIndividual Trustee Or DirectorIndividualTrusteeOrDirectorReportable Comp From OrganizationReportableCompFromOrganizationReportable Comp From Related OrgsReportableCompFromRelatedOrgsOther CompensationOtherCompensationOfficerOfficer
David J Hanson 14
Director/Secretary1.02.0X000
Janice Hesalroad 1
Director1.02.0X606700
Linda Hoeschler 1
Director1.02.0X745000
Alex J Pollock 1
Director1.02.0X910000
Richard A Weiss 1
Director1.02.0X496700
Richard D George 23
Chairman/PRES/CEO/Treasurer1.059.0X054793658677X
Nancy Seifert 3
CFO/Asst Secretary1.054.0033790850458X
FieldValueIRS element (for citing)
Total Reportable Comp From Org27584TotalReportableCompFromOrg
Total Reportable Comp Frm Rltd Orgs885844TotalReportableCompFrmRltdOrgs
Total Other Compensation109135TotalOtherCompensation
Number Individuals GT100 K0NumberIndividualsGT100K
Formers ListedfalseFormersListed
Total Comp GT150 KtrueTotalCompGT150K
Compensation From Other SourcesfalseCompensationFromOtherSources

Contractor Compensation ContractorCompensation

Name Of Contractor NameOfContractor

FieldValueIRS element (for citing)
Name PersonNONENamePerson
FieldValueIRS element (for citing)
Address Of ContractorAddressOfContractor
FieldValueIRS element (for citing)
Number Of Contractors GT100 K0NumberOfContractorsGT100K
Total Contributions0TotalContributions

Program Service Revenue ProgramServiceRevenue

FieldValueIRS element (for citing)
DescriptionLOAN INTEREST INCOMEDescription
Business Code900099BusinessCode
Total Revenue Column3708658TotalRevenueColumn
Related Or Exempt Function Income3708658RelatedOrExemptFunctionIncome
FieldValueIRS element (for citing)
Total Program Service Revenue3708658TotalProgramServiceRevenue

Investment Income InvestmentIncome

FieldValueIRS element (for citing)
Total Revenue Column5312TotalRevenueColumn
Exclusion$5,312ExclusionAmount

Income From Invest Bond Proceeds IncomeFromInvestBondProceeds

FieldValueIRS element (for citing)
Total Revenue Column0TotalRevenueColumn

Royalties Revenue RoyaltiesRevenue

FieldValueIRS element (for citing)
Total Revenue Column0TotalRevenueColumn

Rental Income Or Loss RentalIncomeOrLoss

FieldValueIRS element (for citing)
Real0Real
Personal0Personal

Net Rental Income Or Loss NetRentalIncomeOrLoss

FieldValueIRS element (for citing)
Total Revenue Column0TotalRevenueColumn

Net Gain Or Loss Investments NetGainOrLossInvestments

FieldValueIRS element (for citing)
Total Revenue Column0TotalRevenueColumn

Net Income From Fundraising Events NetIncomeFromFundraisingEvents

FieldValueIRS element (for citing)
Total Revenue Column0TotalRevenueColumn

Net Income From Gaming NetIncomeFromGaming

FieldValueIRS element (for citing)
Total Revenue Column0TotalRevenueColumn

Net Income Or Loss NetIncomeOrLoss

FieldValueIRS element (for citing)
Total Revenue Column0TotalRevenueColumn
FieldValueIRS element (for citing)
Total Other Revenue0TotalOtherRevenue

Total Revenue TotalRevenue

FieldValueIRS element (for citing)
Total Revenue Column3713970TotalRevenueColumn
Related Or Exempt Function Income3708658RelatedOrExemptFunctionIncome
Exclusion$5,312ExclusionAmount

Grants To Domestic Orgs GrantsToDomesticOrgs

FieldValueIRS element (for citing)
Total0Total

Grants To Domestic Individuals GrantsToDomesticIndividuals

FieldValueIRS element (for citing)
Total0Total

Foreign Grants ForeignGrants

FieldValueIRS element (for citing)
Total0Total

Benefits To Members BenefitsToMembers

FieldValueIRS element (for citing)
Total0Total

Comp Current Officers Directors CompCurrentOfficersDirectors

FieldValueIRS element (for citing)
Total27582Total
Management And General27582ManagementAndGeneral

Comp Disqual Persons CompDisqualPersons

FieldValueIRS element (for citing)
Total0Total

Other Salaries And Wages OtherSalariesAndWages

FieldValueIRS element (for citing)
Total0Total

Pension Plan Contributions PensionPlanContributions

FieldValueIRS element (for citing)
Total0Total

Other Employee Benefits OtherEmployeeBenefits

FieldValueIRS element (for citing)
Total0Total

Payroll Taxes PayrollTaxes

FieldValueIRS element (for citing)
Total0Total

Fees For Services Management FeesForServicesManagement

FieldValueIRS element (for citing)
Total0Total

Fees For Services Legal FeesForServicesLegal

FieldValueIRS element (for citing)
Total4967Total
Management And General4967ManagementAndGeneral

Fees For Services Accounting FeesForServicesAccounting

FieldValueIRS element (for citing)
Total5300Total
Management And General5300ManagementAndGeneral

Fees For Services Lobbying FeesForServicesLobbying

FieldValueIRS element (for citing)
Total0Total

Fees For Services Prof Fundraising FeesForServicesProfFundraising

FieldValueIRS element (for citing)
Total0Total

Fees For Services Invst Mgmnt Fees FeesForServicesInvstMgmntFees

FieldValueIRS element (for citing)
Total0Total

Fees For Services Other FeesForServicesOther

FieldValueIRS element (for citing)
Total0Total

Advertising Advertising

FieldValueIRS element (for citing)
Total0Total

Office Expenses OfficeExpenses

FieldValueIRS element (for citing)
Total22168Total
Program Services22168ProgramServices

Information Technology InformationTechnology

FieldValueIRS element (for citing)
Total0Total

Royalties Royalties

FieldValueIRS element (for citing)
Total0Total

Occupancy Occupancy

FieldValueIRS element (for citing)
Total0Total

Travel Travel

FieldValueIRS element (for citing)
Total2702Total
Program Services97ProgramServices
Management And General2605ManagementAndGeneral

Travel Entrtnmnt Public Officials TravelEntrtnmntPublicOfficials

FieldValueIRS element (for citing)
Total0Total

Conferences Meetings ConferencesMeetings

FieldValueIRS element (for citing)
Total0Total

Interest Interest

FieldValueIRS element (for citing)
Total0Total

Payments To Affiliates PaymentsToAffiliates

FieldValueIRS element (for citing)
Total0Total

Depreciation Depletion DepreciationDepletion

FieldValueIRS element (for citing)
Total0Total

Insurance Insurance

FieldValueIRS element (for citing)
Total0Total

Other Expenses OtherExpenses (4 entries)

DescriptionDescriptionTotalTotalManagement And GeneralManagementAndGeneralProgram ServicesProgramServices
CORPORATE SUPPORT ALLOCATION3600036000
PROVISION - LENDER LOAN LOSS416421416421
CONSOLIDATED LOAN FEE835026835026
SERVICING FEES274440274440

Total Functional Expenses TotalFunctionalExpenses

FieldValueIRS element (for citing)
Total1624606Total
Program Services1548152ProgramServices
Management And General76454ManagementAndGeneral
Fundraising0Fundraising

Cash Non Interest Bearing CashNonInterestBearing

FieldValueIRS element (for citing)
BOY1354BOY
EOY1006EOY

Savings And Temp Cash Investments SavingsAndTempCashInvestments

FieldValueIRS element (for citing)
BOY6235000BOY
EOY22882000EOY

Pledges And Grants Receivable PledgesAndGrantsReceivable

FieldValueIRS element (for citing)
BOY0BOY
EOY0EOY

Accounts Receivable AccountsReceivable

FieldValueIRS element (for citing)
BOY0BOY
EOY0EOY

Receivables From Officers Etc ReceivablesFromOfficersEtc

FieldValueIRS element (for citing)
BOY0BOY
EOY0EOY

Receivables From Disqual Persons ReceivablesFromDisqualPersons

FieldValueIRS element (for citing)
BOY0BOY
EOY0EOY

Other Notes Loans Receivable Net OtherNotesLoansReceivableNet

FieldValueIRS element (for citing)
BOY0BOY
EOY0EOY

Inventories For Sale Or Use InventoriesForSaleOrUse

FieldValueIRS element (for citing)
BOY0BOY
EOY0EOY

Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges

FieldValueIRS element (for citing)
BOY0BOY
EOY0EOY

Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet

FieldValueIRS element (for citing)
BOY0BOY

Investments Pub Traded Securities InvestmentsPubTradedSecurities

FieldValueIRS element (for citing)
BOY0BOY
EOY0EOY

Investments Other Securities InvestmentsOtherSecurities

FieldValueIRS element (for citing)
BOY0BOY
EOY0EOY

Investments Program Related InvestmentsProgramRelated

FieldValueIRS element (for citing)
BOY0BOY
EOY0EOY

Intangible Assets IntangibleAssets

FieldValueIRS element (for citing)
BOY0BOY
EOY0EOY

Other Assets Total OtherAssetsTotal

FieldValueIRS element (for citing)
BOY115991789BOY
EOY101400547EOY

Total Assets TotalAssets

FieldValueIRS element (for citing)
BOY122228143BOY
EOY124283553EOY

Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses

FieldValueIRS element (for citing)
BOY7965BOY
EOY5310EOY

Grants Payable GrantsPayable

FieldValueIRS element (for citing)
BOY0BOY
EOY0EOY

Deferred Revenue DeferredRevenue

FieldValueIRS element (for citing)
BOY0BOY
EOY0EOY

Tax Exempt Bond Liabilities TaxExemptBondLiabilities

FieldValueIRS element (for citing)
BOY0BOY
EOY0EOY

Escrow Account Liability EscrowAccountLiability

FieldValueIRS element (for citing)
BOY0BOY
EOY0EOY

Loans From Officers Directors LoansFromOfficersDirectors

FieldValueIRS element (for citing)
BOY0BOY
EOY0EOY

Mort Notes Pybl Secured Invest Prop MortNotesPyblSecuredInvestProp

FieldValueIRS element (for citing)
BOY0BOY
EOY0EOY

Unsecured Notes Loans Payable UnsecuredNotesLoansPayable

FieldValueIRS element (for citing)
BOY0BOY
EOY0EOY

Other Liabilities OtherLiabilities

FieldValueIRS element (for citing)
BOY119146840BOY
EOY119115541EOY

Total Liabilities TotalLiabilities

FieldValueIRS element (for citing)
BOY119154805BOY
EOY119120851EOY
FieldValueIRS element (for citing)
Follow SFAS117XFollowSFAS117

Unrestricted Net Assets UnrestrictedNetAssets

FieldValueIRS element (for citing)
BOY3073338BOY
EOY5162702EOY

Temporarily Restricted Net Assets TemporarilyRestrictedNetAssets

FieldValueIRS element (for citing)
BOY0BOY
EOY0EOY

Permanently Restricted Net Assets PermanentlyRestrictedNetAssets

FieldValueIRS element (for citing)
BOY0BOY
EOY0EOY

Total Net Assets Fund Balances TotalNetAssetsFundBalances

FieldValueIRS element (for citing)
BOY3073338BOY
EOY5162702EOY

Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances

FieldValueIRS element (for citing)
BOY122228143BOY
EOY124283553EOY
FieldValueIRS element (for citing)
Reconcilation Revenue Expenses2089364ReconcilationRevenueExpenses
Method Of Accounting AccrualXMethodOfAccountingAccrual
Accountant Compile Or ReviewfalseAccountantCompileOrReview
FS AuditedtrueFSAudited

FS Audited Basis FSAuditedBasis

FieldValueIRS element (for citing)
Financial Statement ConsolidatedXFinancialStatementConsolidated
FieldValueIRS element (for citing)
Audit CommitteetrueAuditCommittee
Federal Grant Audit RequiredfalseFederalGrantAuditRequired

Schedule A IRS990ScheduleA

FieldValueIRS element (for citing)
Publicly Supported Org509a2XPubliclySupportedOrg509a2

Gifts Grants Contrib Received509 GiftsGrantsContribReceived509

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years0CurrentTaxYearMinus4Years
Current Tax Year Minus3 Years0CurrentTaxYearMinus3Years
Current Tax Year Minus2 Years0CurrentTaxYearMinus2Years
Current Tax Year Minus1 Year0CurrentTaxYearMinus1Year
Current Tax Year0CurrentTaxYear
Total0Total

Gross Receipts From Admissions GrossReceiptsFromAdmissions

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years4645CurrentTaxYearMinus4Years
Current Tax Year Minus3 Years1211198CurrentTaxYearMinus3Years
Current Tax Year Minus2 Years3294048CurrentTaxYearMinus2Years
Current Tax Year Minus1 Year3035476CurrentTaxYearMinus1Year
Current Tax Year3708658CurrentTaxYear
Total11254025Total

Gross Receipts From Non UBI GrossReceiptsFromNonUBI

FieldValueIRS element (for citing)
Total0Total

Tax Rev Levied For Org Benefit509 TaxRevLeviedForOrgBenefit509

FieldValueIRS element (for citing)
Total0Total

Value Of Svcs Fclts Furnishd By Govt ValueOfSvcsFcltsFurnishdByGovt

FieldValueIRS element (for citing)
Total0Total

Total509 Total509

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years4645CurrentTaxYearMinus4Years
Current Tax Year Minus3 Years1211198CurrentTaxYearMinus3Years
Current Tax Year Minus2 Years3294048CurrentTaxYearMinus2Years
Current Tax Year Minus1 Year3035476CurrentTaxYearMinus1Year
Current Tax Year3708658CurrentTaxYear
Total11254025Total

Amts Recd From Disqual Persons AmtsRecdFromDisqualPersons

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years0CurrentTaxYearMinus4Years
Current Tax Year Minus3 Years0CurrentTaxYearMinus3Years
Current Tax Year Minus2 Years0CurrentTaxYearMinus2Years
Current Tax Year Minus1 Year0CurrentTaxYearMinus1Year
Total0Total

Amts From Subst Contributors AmtsFromSubstContributors

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years0CurrentTaxYearMinus4Years
Current Tax Year Minus3 Years0CurrentTaxYearMinus3Years
Current Tax Year Minus1 Year0CurrentTaxYearMinus1Year
Total0Total

Support From DQ Ps Etc SupportFromDQPsEtc

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years0CurrentTaxYearMinus4Years
Current Tax Year Minus3 Years0CurrentTaxYearMinus3Years
Current Tax Year Minus2 Years0CurrentTaxYearMinus2Years
Current Tax Year Minus1 Year0CurrentTaxYearMinus1Year
Total0Total
FieldValueIRS element (for citing)
Public Support Total50911254025PublicSupportTotal509

Gross Investment Income509 GrossInvestmentIncome509

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years0CurrentTaxYearMinus4Years
Current Tax Year Minus3 Years3034CurrentTaxYearMinus3Years
Current Tax Year Minus2 Years18646CurrentTaxYearMinus2Years
Current Tax Year Minus1 Year25132CurrentTaxYearMinus1Year
Current Tax Year5312CurrentTaxYear
Total52124Total

Post1975 UBTI Post1975UBTI

FieldValueIRS element (for citing)
Total0Total

Investment Income And UBTI InvestmentIncomeAndUBTI

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years0CurrentTaxYearMinus4Years
Current Tax Year Minus3 Years3034CurrentTaxYearMinus3Years
Current Tax Year Minus2 Years18646CurrentTaxYearMinus2Years
Current Tax Year Minus1 Year25132CurrentTaxYearMinus1Year
Current Tax Year5312CurrentTaxYear
Total52124Total

Net Income From Other UBI NetIncomeFromOtherUBI

FieldValueIRS element (for citing)
Total0Total

Other Income509 OtherIncome509

FieldValueIRS element (for citing)
Total0Total

Total Support Total TotalSupportTotal

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years4645CurrentTaxYearMinus4Years
Current Tax Year Minus3 Years1214232CurrentTaxYearMinus3Years
Current Tax Year Minus2 Years3312694CurrentTaxYearMinus2Years
Current Tax Year Minus1 Year3060608CurrentTaxYearMinus1Year
Current Tax Year3713970CurrentTaxYear
Total11306149Total
FieldValueIRS element (for citing)
Public Support Percentage5090.99539PublicSupportPercentage509
Prior Year Support Percentage0.99383PriorYearSupportPercentage
Investment Income Percentage0.00461InvestmentIncomePercentage
Prior Yr Invest Income Percentage0.00617PriorYrInvestIncomePercentage
Thirty Three Percnt Tests CY509XThirtyThreePercntTestsCY509

Schedule D IRS990ScheduleD

FieldValueIRS element (for citing)
Art Public Exhibition AmtsArtPublicExhibitionAmts
Held Works Of Art AmtsHeldWorksOfArtAmts
Current Year Minus3 YearsCurrentYearMinus3Years
Current Year Minus4 YearsCurrentYearMinus4Years
LandLand
BuildingsBuildings
Leasehold ImprovementsLeaseholdImprovements
EquipmentEquipment
Other Land BuildingsOtherLandBuildings

Other Assets OtherAssets (3 entries)

DescriptionDescriptionBook ValueBookValue
STUDENT LOANS RECEIVABLE98479953
INTEREST RECEIVABLE2148378
DUE FROM SERVICER772216
FieldValueIRS element (for citing)
Total Book Value Other Assets101400547TotalBookValueOtherAssets
Federal Income Tax Liability0FederalIncomeTaxLiability

Other Liabilities OtherLiabilities (5 entries)

DescriptionDescriptionAmountAmount
INTERCOMPANY PAYABLE$291,802
LENDER FUNDING CONTRIBUTION TR$118,419,274
CONSOLIDATED LOAN FEE PAYABLE$64,394
INTEREST PAYABLE$321,033
SERVICING FEES PAYABLE$19,038
FieldValueIRS element (for citing)
Total Of Amounts119115541TotalOfAmounts

Form990 Schedule D Part XIII Form990ScheduleDPartXIII

FieldValueIRS element (for citing)
IdentifierSUPPLEMENTAL INFORMATIONIdentifier
Return ReferenceSchedule D, Part XReturnReference
ExplanationOther liabilities-$118,419,274 Lender Funding Contribution Transfer Northstar Guarantee Inc.'s exempt lending role was utilized beginning in December 2008 through the making and/or holding of student loans to postsecondary education students and to their parents in accordance with Federal Family Education Loan Program established by Title IV, Part B of the Federal Higher Education Act of 1965, as amended. The $118,419,274 represents the 2008-2010 Lender Funding Contribution Transfer from Great Lakes Higher Education Corporation (Related Entity).Explanation

Schedule J IRS990ScheduleJ

FieldValueIRS element (for citing)
Severance PaymentfalseSeverancePayment
Supplemental Nonqual Retire PlantrueSupplementalNonqualRetirePlan
Equity Based Comp ArrangementfalseEquityBasedCompArrangement
Comp Based On Revenue Of Filing OrgfalseCompBasedOnRevenueOfFilingOrg
Comp Based On Revenue Related OrgsfalseCompBasedOnRevenueRelatedOrgs
Comp Based Net Earnings Filing OrgfalseCompBasedNetEarningsFilingOrg
Comp Based Net Earnings Relate OrgsfalseCompBasedNetEarningsRelateOrgs
Any Non Fixed PaymentsfalseAnyNonFixedPayments
Initial Contract ExceptionfalseInitialContractException

Form990 Schedule J Part II Form990ScheduleJPartII (2 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
Richard D George 23
Chairman/PRES/CEO/Treasurer0268460027559003886038991019686060661300
Nancy Seifert 3
CFO/Asst Secretary0170323016554602039031906018552038836600

Form990 Schedule J Part III Form990ScheduleJPartIII

FieldValueIRS element (for citing)
IdentifierSupplemental Compensation InformationIdentifier
Return ReferenceSchedule J, Part IIIReturnReference
ExplanationThe following individuals participated in a supplemental nonqualified retirement plan: Richard George and Nancy Seifert. There were no new payments into and no payments out of the plan. The supplemental nonqualified plan (optionit plan) was in effect for four years (1998-2001) and was offered by the employer to management and staff for retention purposes.Explanation

Schedule L IRS990ScheduleL

Form990 Schedule L Part IV Form990ScheduleLPartIV (2 entries)

RelationshipRelationshipAmount Of TransactionAmountOfTransactionDescription Of TransactionDescriptionOfTransactionSharing Of RevenuesSharingOfRevenues
GREAT LAKES EDUCATIONAL LOAN SVCS
Contrl Ent/officer ovrlap274143SERVICING FEES PAID TO GLELSIfalse
GREAT LAKES EDUCATIONAL LOAN SVCS
Contrl Ent/officer ovrlap2158INTERCOMPANY REIMB. TO GLELSIfalse

Form990 Schedule L Part V Form990ScheduleLPartV

FieldValueIRS element (for citing)
IdentifierDescription of Transaction:Identifier
Return ReferencePart IVReturnReference
ExplanationGreat Lakes Educational Loan Services, Inc. is a for-profit subsidiary of Great Lakes Higher Education Corporation. Richard D. George serves as the Chairman & Treasurer and the President & CEO of Northstar Guarantee Inc. He also serves as the Chairman of Great Lakes Educational Loan Services, Inc.Explanation

Schedule O IRS990ScheduleO

General Explanation GeneralExplanation (5 entries)

IdentifierIdentifierReturn ReferenceReturnReferenceExplanationExplanation
MEMBERS OR STOCKHOLDERS:PART VI, QUESTION 6 AND 7AGreat Lakes Higher Education Corporation, a nonprofit 501(c)(3) corporation, is the sole member of Northstar Guarantee Inc. and has the authority to appoint the Northstar Guarantee Inc. board.
Decisions of Governing Body Subject to approval:PART VI, QUESTION 7BGreat Lakes Higher Education Corporation, a nonprofit 501(c)(3) corporation, as sole member of Northstar Guarantee Inc., has the authority provided by Wis. Stats. Chapter 181 to approve certain actions related to merger, conversion, sale of assets and dissolution.
Describe the Process the Organization used to Review the Form 990:PART VI, QUESTION 11BOn an annual basis, the Chairman of the Board, CEO, General Counsel, the audit committee and board review the Form 990 prior to filing. The conflicts of interest questionnaires are completed by each Director and reviewed prior to filing the Form 990.
Description of Process to Monitor Transactions for Conflicts of Interest:Part VI, QUESTION 12CAnnually, Directors and Officers sign a Conflict of Interest document which discloses any conflicts. The signed documents are reviewed annually by the Chairman of the Board. If a disclosed conflict occurs, the individual abstains from discussion and voting on topics where a conflict of interest exists. All Directors, Officers and Employees are subject to the Human Resources Code of Ethics to maintain the highest ethical and legal standards of business conduct. Availability of Governing Documents, Conflict of Interest Policy, and Financial Statements to General Public: PART VI, QUESTION 19 Federal tax law does not require that such documents be made publicly available. Documents are available upon specific request.
Compensation Footnotes:PART VII, SECTION A(1)Directors normally attend 3-4 board meetings and 3-4 committee meetings per year in addition to telephonic conferences and individual meetings with officers. Directors devote an average of 1 hour per week to their position(s). (2)Inside directors are not eligible for Board compensation. (3)Non-operating officer position not separately compensated. (4)Board compensation is applied to firm retainer for outside counsel services.

Schedule R IRS990ScheduleR

Form990 Schedule R Part II Form990ScheduleRPartII (2 entries)

Address Line1AddressUS/AddressLine1CityAddressUS/CityStateAddressUS/StateZIP CodeAddressUS/ZIPCodeEINEINPrimary ActivitiesPrimaryActivitiesLegal Domicile StateLegalDomicileStateExempt Code SectionExemptCodeSectionPublic Charity StatusPublicCharityStatusBusiness Name Line1DirectControllingEntityName/BusinessNameLine1Controlled OrgControlledOrg
Great Lakes Higher Education Corporation
2401 International LaneMadisonWI53704391090394stdnt ln svcsWI501(c)(3)11B Type 2NAfalse
Great Lakes Higher Educ Guaranty Corp
2401 International LaneMadisonWI53704391853833gty stdnt lnsWI501(c)(3)9GLHECtrue

Form990 Schedule R Part IV Form990ScheduleRPartIV

Name Of Related Org NameOfRelatedOrg

FieldValueIRS element (for citing)
Business Name Line1Great Lakes Educational Loan Svcs IncBusinessNameLine1

Address US AddressUS

FieldValueIRS element (for citing)
Address Line12401 International LaneAddressLine1
CityMadisonCity
StateWIState
ZIP Code53704ZIPCode
FieldValueIRS element (for citing)
EIN391864035EIN
Primary ActivityStudent LoanPrimaryActivity
Legal Domicile StateWILegalDomicileState

Direct Controlling Entity Name DirectControllingEntityName

FieldValueIRS element (for citing)
Business Name Line1NABusinessNameLine1
FieldValueIRS element (for citing)
Type Of EntityC corpTypeOfEntity
FieldValueIRS element (for citing)
Receipt Of Int Ann Rents RoyaltiesfalseReceiptOfIntAnnRentsRoyalties
Gift Grant Or Cap Contr To Other OrgfalseGiftGrantOrCapContrToOtherOrg
Gift Grant Or Cap Contr Fr Other OrgfalseGiftGrantOrCapContrFrOtherOrg
Loans Or Guarantees To Other OrgfalseLoansOrGuaranteesToOtherOrg
Loans Or Guarantees From Other OrgfalseLoansOrGuaranteesFromOtherOrg
Dividends Related OrganizationfalseDividendsRelatedOrganization
Sale Of Assets To Other OrgfalseSaleOfAssetsToOtherOrg
Purchase Of Assets From Other OrgfalsePurchaseOfAssetsFromOtherOrg
Exchange Of AssetsfalseExchangeOfAssets
Rental Of Facilities To Other OrgsfalseRentalOfFacilitiesToOtherOrgs
Rental Of Facilities Fr Other OrgsfalseRentalOfFacilitiesFrOtherOrgs
Perform Of Services For Other OrgsfalsePerformOfServicesForOtherOrgs
Perform Of Services By Other OrgstruePerformOfServicesByOtherOrgs
Sharing Of FacilitiesfalseSharingOfFacilities
Sharing Of Paid EmployeesfalseSharingOfPaidEmployees
Reimbursement Paid To Other OrgtrueReimbursementPaidToOtherOrg
Reimbursement Paid By Other OrgfalseReimbursementPaidByOtherOrg
Other Transfer To Other OrgfalseOtherTransferToOtherOrg
Other Transfer From Other OrgfalseOtherTransferFromOtherOrg

Transactions Related Orgs Table TransactionsRelatedOrgsTable

Name Of Other Organization NameOfOtherOrganization

FieldValueIRS element (for citing)
Business Name Line1Great Lakes Educational Loan Services IncBusinessNameLine1
FieldValueIRS element (for citing)
Transaction TypemTransactionType
Amount Involved274143AmountInvolved
Method Of Amt DeterminationActual CostMethodOfAmtDetermination

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