2013-08-29T12:21:48-05:00 2012-12-31 ERNST & YOUNG US LLP 111 MONUMENT CIRCLE SUITE 2600 INDIANAPOLIS IN 46204 990 2012-01-01 411689095 NORTHSTAR GUARANTEE INC % NANCY SEIFERT NORT 6082461410 2401 International Lane Suite Madison WI 53704 Richard D George 2013-08-27 3176817000 2012 2016-02-24 21:20:13Z Richard D George 2401 International Lane Madison WI 53704 3713969 false X www.mygreatlakes.org X 1990 MN NORTHSTAR 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. 6 5 0 0 0 0 0 3035476 3708658 25132 5312 0 0 3060608 3713970 0 0 0 0 25834 27582 0 0 0 1491790 1597024 1517624 1624606 1542984 2089364 122228143 124283553 119154805 119120851 3073338 5162702 NORTHSTAR 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. false false 1548152 3708658 Making 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. 1548152 true false false false false false false false false false false false false true true false false true false false false false false false false false false false false true false false false false false false false true false false false false false true true true false false true 6 0 true 0 false false false false false false false false false false X 6 5 false false false false true true true true true false false true true true true true true false false false MN X NANCY SEIFERT 6082461410 2401 INTERNATIONAL LANE Madison WI 53704 X David J Hanson 14 1.0 2.0 X 0 0 0 Janice Hesalroad 1 1.0 2.0 X 6067 0 0 Linda Hoeschler 1 1.0 2.0 X 7450 0 0 Alex J Pollock 1 1.0 2.0 X 9100 0 0 Richard A Weiss 1 1.0 2.0 X 4967 0 0 Richard D George 23 1.0 59.0 X X 0 547936 58677 Nancy Seifert 3 1.0 54.0 X 0 337908 50458 27584 885844 109135 0 false true false NONE 0 0 LOAN INTEREST INCOME 900099 3708658 3708658 3708658 5312 5312 0 0 0 0 0 0 0 0 0 0 3713970 3708658 5312 0 0 0 0 27582 27582 0 0 0 0 0 0 4967 4967 5300 5300 0 0 0 0 0 22168 22168 0 0 0 2702 97 2605 0 0 0 0 0 0 CORPORATE SUPPORT ALLOCATION 36000 36000 PROVISION - LENDER LOAN LOSS 416421 416421 CONSOLIDATED LOAN FEE 835026 835026 SERVICING FEES 274440 274440 1624606 1548152 76454 0 1354 1006 6235000 22882000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 115991789 101400547 122228143 124283553 7965 5310 0 0 0 0 0 0 0 0 0 0 0 0 0 0 119146840 119115541 119154805 119120851 X 3073338 5162702 0 0 0 0 3073338 5162702 122228143 124283553 2089364 X false true X true false X 0 0 0 0 0 0 4645 1211198 3294048 3035476 3708658 11254025 0 0 0 4645 1211198 3294048 3035476 3708658 11254025 0 0 0 0 0 0 0 0 0 0 0 0 0 0 11254025 0 3034 18646 25132 5312 52124 0 0 3034 18646 25132 5312 52124 0 0 4645 1214232 3312694 3060608 3713970 11306149 0.99539 0.99383 0.00461 0.00617 X STUDENT LOANS RECEIVABLE 98479953 INTEREST RECEIVABLE 2148378 DUE FROM SERVICER 772216 101400547 0 INTERCOMPANY PAYABLE 291802 LENDER FUNDING CONTRIBUTION TR 118419274 CONSOLIDATED LOAN FEE PAYABLE 64394 INTEREST PAYABLE 321033 SERVICING FEES PAYABLE 19038 119115541 SUPPLEMENTAL INFORMATION Schedule D, Part X Other 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). false true false false false false false false false Richard D George 23 0 268460 0 275590 0 3886 0 38991 0 19686 0 606613 0 0 Nancy Seifert 3 0 170323 0 165546 0 2039 0 31906 0 18552 0 388366 0 0 Supplemental Compensation Information Schedule J, Part III The 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. GREAT LAKES EDUCATIONAL LOAN SVCS Contrl Ent/officer ovrlap 274143 SERVICING FEES PAID TO GLELSI false GREAT LAKES EDUCATIONAL LOAN SVCS Contrl Ent/officer ovrlap 2158 INTERCOMPANY REIMB. TO GLELSI false Description of Transaction: Part IV Great 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. MEMBERS OR STOCKHOLDERS: PART VI, QUESTION 6 AND 7A Great 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 7B Great 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 11B On 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 12C Annually, 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. Great Lakes Higher Education Corporation 2401 International Lane Madison WI 53704 391090394 stdnt ln svcs WI 501(c)(3) 11B Type 2 NA false Great Lakes Higher Educ Guaranty Corp 2401 International Lane Madison WI 53704 391853833 gty stdnt lns WI 501(c)(3) 9 GLHEC true Great Lakes Educational Loan Svcs Inc 2401 International Lane Madison WI 53704 391864035 Student Loan WI NA C corp false false false false false false false false false false false false true false false true false false false Great Lakes Educational Loan Services Inc m 274143 Actual Cost