ASCENDIUM EDUCATION SOLUTIONS INC: Form 990, tax year 2011
View the entire original 990 at ProPublica ↗
- Organization
- ASCENDIUM EDUCATION SOLUTIONS INC (EIN 39-1853833)
- Tax period
- 2011-01-01 to 2011-12-31
- Filed
- 2012-09-04
- IRS object ID
- 201232489349300463
- Schema version
- 2011v1.2
- 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
- Form 990
- Schedule A
- Schedule B
- Schedule D
- Schedule I
- Schedule J
- Schedule L
- Schedule O
- Schedule R
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Timestamp | 2012-09-04T11:47:38-05:00 | Timestamp |
| Tax Period End Date | 2011-12-31 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ERNST & YOUNG US LLP | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 111 MONUMENT CIRCLE STE 2600 | AddressLine1 |
| City | INDIANAPOLIS | City |
| State | IN | State |
| ZIP Code | 46204 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2011-01-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 391853833 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Great Lakes Higher Education Guaranty Corp | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| In Care Of Name | % NANCY SEIFERT | InCareOfName |
| Name Control | GREA | NameControl |
| Phone | 6082461410 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2401 International Lane | AddressLine1 |
| City | Madison | City |
| State | WI | State |
| ZIP Code | 53704 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | Richard D George | Name |
| Title | President & CEO | Title |
| Date Signed | 2012-08-31 | DateSigned |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 3176817000 | Phone |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2011 | TaxYear |
| Build TS | 2016-02-24 21:20:13Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Principal Officer Person | Richard D George | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2401 International Lane | AddressLine1 |
| City | Madison | City |
| State | WI | State |
| ZIP Code | 53704 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 153543765 | GrossReceipts |
| Group Return For Affiliates | false | GroupReturnForAffiliates |
| Organization501c3 | X | Organization501c3 |
| Web Site | www.mygreatlakes.org | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 1996 | YearFormation |
| State Legal Domicile | WI | StateLegalDomicile |
| Activity Or Mission Description | GREAT LAKES HIGHER EDUCATION GUARANTY CORPORATION OPERATES TO PROVIDE COST EFFECTIVE ACCESS TO POST-SECONDARY EDUCATION BY PROVIDING GUARANTY SERVICES TO BROADEN FEDERALLY GUARANTEED LOAN AVAILABILITY. | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 7 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 6 | NbrIndependentVotingMembers |
| Total Nbr Employees | 176 | TotalNbrEmployees |
| Total Nbr Volunteers | 0 | TotalNbrVolunteers |
| Total Gross UBI | 0 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | 0 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Prior Year | 1317329 | ContributionsGrantsPriorYear |
| Contributions Grants Current Year | 1700576 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 115613140 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 149383595 | ProgramServiceRevenueCY |
| Investment Income Prior Year | -62430 | InvestmentIncomePriorYear |
| Investment Income Current Year | 326350 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 342301 | OtherRevenuePriorYear |
| Other Revenue Current Year | 296789 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 117210340 | TotalRevenuePriorYear |
| Total Revenue Current Year | 151707310 | TotalRevenueCurrentYear |
| Grants And Similar Amnts Prior Year | 45555377 | GrantsAndSimilarAmntsPriorYear |
| Grants And Similar Amnts CY | 1552535 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members Prior Year | 0 | BenefitsPaidToMembersPriorYear |
| Benefits Paid To Members CY | 0 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 12221100 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 11900792 | 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 | 49992995 | OtherExpensePriorYear |
| Other Expenses Current Year | 55673781 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 107769472 | TotalExpensesPriorYear |
| Total Expenses Current Year | 69127108 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | 9440868 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | 82580202 | RevenuesLessExpensesCY |
| Total Assets BOY | 131989544 | TotalAssetsBOY |
| Total Assets EOY | 217192353 | TotalAssetsEOY |
| Total Liabilities BOY | 31370046 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 33787451 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 100619498 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 183404902 | NetAssetsOrFundBalancesEOY |
| Mission Description | Great Lakes Higher Education Guaranty Corporation operates to provide for philanthropic support and cost effective enablement of access to and persistence in post-secondary education by providing full-range guaranty agency services and grant support to funding sources, educational institutions, charitable organizations, and others to broaden federally guaranteed loan availability and pursuit of and participation in post-secondary education in accordance with the Higher Education Act of 1965, as amended. THIS MISSION STATEMENT HAS BEEN REVIEWED, ACKNOWLEDGED AND INFORMALLY APPROVED BY THE BOARD. | MissionDescription |
| Significant New Program Services | false | SignificantNewProgramServices |
| Significant Change | false | SignificantChange |
| Expense | 64872653 | Expense |
| Grants | 1552535 | Grants |
| Revenue | 149383595 | Revenue |
| Description | Great Lakes Higher Education Guaranty Corporation operates to provide for philanthropic support and cost effective enablement of access to and persistence in post-secondary education by providing full-range guaranty agency services and grant support to funding sources, educational institutions, charitable organizations, and others to broaden federally guaranteed loan availability and pursuit of and participation in post-secondary education in accordance with the Higher Education Act of 1965, as amended. | Description |
| Total Program Service Expense | 64872653 | TotalProgramServiceExpense |
| Described In501 C3 | true | DescribedIn501C3 |
| Schedule B Required | true | ScheduleBRequired |
| Political Activities | false | PoliticalActivities |
| Lobbying Activities | false | LobbyingActivities |
| Donor Advised Funds | false | DonorAdvisedFunds |
| Conservation Easements | false | ConservationEasements |
| Collections Of Art | false | CollectionsOfArt |
| Credit Counseling | true | CreditCounseling |
| Term Or Permanent Endowments | false | TermOrPermanentEndowments |
| Report Land Bldg Equip | true | ReportLandBldgEquip |
| Report Invest Oth Securities | false | ReportInvestOthSecurities |
| Report Prog Rel Invest | false | ReportProgRelInvest |
| Report Other Assets | false | ReportOtherAssets |
| Report Other Liabilities | true | ReportOtherLiabilities |
| Report Fin48 Footnote | false | ReportFin48Footnote |
| Independent Audit Financial Stmt | false | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | true | ConsolidatedAuditFinancialStmt |
| School | false | School |
| Foreign Office | false | ForeignOffice |
| Foreign Activities | false | ForeignActivities |
| More Than5000 K To Organizations | false | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | false | MoreThan5000KToIndividuals |
| Professional Fundraising | false | ProfessionalFundraising |
| Fundraising Activities | false | FundraisingActivities |
| Gaming | false | Gaming |
| Hospital | false | Hospital |
| Grants To Organizations | true | GrantsToOrganizations |
| Grants To Individuals | false | GrantsToIndividuals |
| Schedule J Required | true | ScheduleJRequired |
| Tax Exempt Bonds | false | TaxExemptBonds |
| Excess Benefit Transaction | false | ExcessBenefitTransaction |
| Prior Excess Benefit Transaction | false | PriorExcessBenefitTransaction |
| Loan To Officer Or DQP | false | LoanToOfficerOrDQP |
| Grant To Related Person | false | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | false | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | false | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | true | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | false | DeductibleNonCashContributions |
| Deductible Contributions Of Art | false | DeductibleContributionsOfArt |
| Terminated | false | Terminated |
| Partial Liquidation | false | PartialLiquidation |
| Disregarded Entity | false | DisregardedEntity |
| Related Entity | true | RelatedEntity |
| Related Org Controlled Entity | true | RelatedOrgControlledEntity |
| Transaction Related Entity | true | TransactionRelatedEntity |
| Transfers To Exempt Non Chrtbl Org | false | TransfersToExemptNonChrtblOrg |
| Activities Conducted Partnership | false | ActivitiesConductedPartnership |
| Schedule O Required | true | ScheduleORequired |
| Number Forms Transmitted With1096 | 86713 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Compliance With Backup Witholding | true | ComplianceWithBackupWitholding |
| Number Of Employees | 176 | NumberOfEmployees |
| Employment Tax Returns Filed | true | EmploymentTaxReturnsFiled |
| Unrelated Business Income | false | UnrelatedBusinessIncome |
| Foreign Financial Account | false | ForeignFinancialAccount |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTrans |
| Taxable Party Notification | false | TaxablePartyNotification |
| Non Deductible Contributions | false | NonDeductibleContributions |
| Quid Pro Quo Contributions | false | QuidProQuoContributions |
| Form8282 Property Disposed Of | false | Form8282PropertyDisposedOf |
| Funds To Pay Premiums | false | FundsToPayPremiums |
| Premiums Paid | false | PremiumsPaid |
| Indoor Tanning Services | false | IndoorTanningServices |
| Info In Schedule O Part VI | X | InfoInScheduleOPartVI |
| Nbr Voting Governing Body Members | 7 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 6 | NumberIndependentVotingMembers |
| Family Or Business Relationship | false | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | false | DelegationOfManagementDuties |
| Changes To Organizing Docs | false | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | false | MaterialDiversionOrMisuse |
| Members Or Stockholders | true | MembersOrStockholders |
| Election Of Board Members | true | ElectionOfBoardMembers |
| Decisions Subject To Approval | true | DecisionsSubjectToApproval |
| Minutes Of Governing Body | true | MinutesOfGoverningBody |
| Minutes Of Committees | true | MinutesOfCommittees |
| Officer Mailing Address | false | OfficerMailingAddress |
| Local Chapters | false | LocalChapters |
| Form990 Provided To Governing Body | false | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | true | ConflictOfInterestPolicy |
| Annual Disclosure Covered Persons | true | AnnualDisclosureCoveredPersons |
| Regular Monitoring Enforcement | true | RegularMonitoringEnforcement |
| Whistleblower Policy | true | WhistleblowerPolicy |
| Document Retention Policy | true | DocumentRetentionPolicy |
| Compensation Process CEO | false | CompensationProcessCEO |
| Compensation Process Other | true | CompensationProcessOther |
| Investment In Joint Venture | false | InvestmentInJointVenture |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Person | NANCY SEIFERT | NamePerson |
| Telephone Number | 6082461410 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2401 INTERNATIONAL LANE | AddressLine1 |
| City | Madison | City |
| State | WI | State |
| ZIP Code | 53704 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part VII | X | InfoInScheduleOPartVII |
Form990 Part VII Section A Form990PartVIISectionA (13 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Individual Trustee Or DirectorIndividualTrusteeOrDirector | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation | OfficerOfficer | Highest Compensated EmployeeHighestCompensatedEmployee |
|---|---|---|---|---|---|---|---|
| Emerson L Brumback 1 | |||||||
| Director/Committee Chairman | 3.0 | X | 5500 | 0 | 0 | ||
| David J Hanson 14 | |||||||
| Director/Secretary | 3.0 | X | |||||
| Janice Hesalroad 1 | |||||||
| Director | 3.0 | X | 5667 | ||||
| Thomas A Scarlett 1 | |||||||
| Director | 3.0 | X | 14000 | ||||
| Cynthia Walsh 1 | |||||||
| Director | 3.0 | X | 17000 | ||||
| Richard A Weiss 1 | |||||||
| Director | 3.0 | X | 4667 | ||||
| Richard D George 23 | |||||||
| Chairman/Pres/Ceo/Treasurer | 1.0 | X | 0 | 547607 | 50175 | X | |
| Nancy Seifert 3 | |||||||
| CFO/Asst Secretary | 1.0 | 0 | 316296 | 49986 | X | ||
| Clark Wold | |||||||
| Exe VP/Chief Operating Officer | 25.0 | 199640 | 0 | 33588 | X | ||
| Amy Kobishop | |||||||
| Chief Guaranty Officer | 50.0 | 250803 | 0 | 32671 | X | ||
| Beth Erickson | |||||||
| VP - Repayment Solutions | 50.0 | 213220 | 0 | 41559 | X | ||
| Jacqueline Fairbairn | |||||||
| VP - Policy/Regul Compliance | 50.0 | 177650 | 0 | 48509 | X | ||
| Steven Schmidt | |||||||
| Mgr - Product Dev & Marketing | 45.0 | 106484 | 33180 | X | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 994631 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 863903 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 289668 | TotalOtherCompensation |
| Number Individuals GT100 K | 5 | NumberIndividualsGT100K |
| Formers Listed | false | FormersListed |
| Total Comp GT150 K | true | TotalCompGT150K |
| Compensation From Other Sources | false | CompensationFromOtherSources |
Contractor Compensation ContractorCompensation (5 entries)
| Address Line1AddressOfContractor/AddressUS/AddressLine1 | CityAddressOfContractor/AddressUS/City | StateAddressOfContractor/AddressUS/State | ZIP CodeAddressOfContractor/AddressUS/ZIPCode | Description Of ServicesDescriptionOfServices | CompensationCompensation |
|---|---|---|---|---|---|
| Diversified Collection Services In | |||||
| 333 N Canyons Pkwy Suite 100 | LIVERMORE | CA | 94551 | Collection Services | 28651963 |
| Ideal Builders Inc | |||||
| 1406 Emil Street | MADISON | WI | 53713 | Construction SVCS | 462304 |
| NCO | |||||
| PO Box 935 | BROOKFIELD | WI | 53005 | Collection/Location | 303324 |
| XAP Corporation | |||||
| 3534 Hayden Avenue | CULVER CITY | CA | 90232 | System Oper/Maint. | 254397 |
| Badger Press Inc | |||||
| 100 East Blackhawk Drive | FORT ATKINSON | WI | 53538 | Printing Services | 145135 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of Contractors GT100 K | 8 | NumberOfContractorsGT100K |
| Government Grants | 1700576 | GovernmentGrants |
| Total Contributions | 1700576 | TotalContributions |
Program Service Revenue ProgramServiceRevenue (5 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome |
|---|---|---|---|
| Collections & Rehabilitations | 900099 | 109917287 | 109917287 |
| Account Maintenance Fees | 900099 | 25105036 | 25105036 |
| Issuance Fees | 900099 | 4889 | 4889 |
| Default Aversion Fees | 900099 | 14259383 | 14259383 |
| Rental income or (loss) | 532000 | 97000 | 97000 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 149383595 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 335989 | TotalRevenueColumn |
| Exclusion | $335,989 | ExclusionAmount |
Income From Invest Bond Proceeds IncomeFromInvestBondProceeds
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Royalties Revenue RoyaltiesRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Gross Rents GrossRents
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | 2056000 | Real |
Less Rental Expenses LessRentalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | 1826816 | Real |
Rental Income Or Loss RentalIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | 229184 | Real |
Net Rental Income Or Loss NetRentalIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 229184 | TotalRevenueColumn |
| Exclusion | $229,184 | ExclusionAmount |
Less Cost Oth Basis Sales Expenses LessCostOthBasisSalesExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | 9639 | Other |
Gain Or Loss GainOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | -9639 | Other |
Net Gain Or Loss Investments NetGainOrLossInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -9639 | TotalRevenueColumn |
| Exclusion | -$9,639 | ExclusionAmount |
Net Income From Fundraising Events NetIncomeFromFundraisingEvents
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Net Income From Gaming NetIncomeFromGaming
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Net Income Or Loss NetIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Other Revenue Misc OtherRevenueMisc (3 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | ExclusionExclusionAmount |
|---|---|---|---|
| EAC ELM Redemption | 900099 | 47500 | $47,500 |
| Dakota Corp Adminstrative Services Fee | 900099 | 12000 | $12,000 |
| All other revenue | 900099 | 8105 | $8,105 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Revenue | 67605 | TotalOtherRevenue |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 151707310 | TotalRevenueColumn |
| Related Or Exempt Function Income | 149383595 | RelatedOrExemptFunctionIncome |
| Exclusion | $623,139 | ExclusionAmount |
Grants To Domestic Orgs GrantsToDomesticOrgs
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1552535 | Total |
| Program Services | 1552535 | ProgramServices |
Grants To Domestic Individuals GrantsToDomesticIndividuals
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Foreign Grants ForeignGrants
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Benefits To Members BenefitsToMembers
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Comp Current Officers Directors CompCurrentOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1037213 | Total |
| Management And General | 1037213 | ManagementAndGeneral |
Comp Disqual Persons CompDisqualPersons
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Other Salaries And Wages OtherSalariesAndWages
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 8008628 | Total |
| Program Services | 8008628 | ProgramServices |
Pension Plan Contributions PensionPlanContributions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 820848 | Total |
| Program Services | 820848 | ProgramServices |
Other Employee Benefits OtherEmployeeBenefits
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1345434 | Total |
| Program Services | 1345434 | ProgramServices |
Payroll Taxes PayrollTaxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 688669 | Total |
| Program Services | 649907 | ProgramServices |
| Management And General | 38762 | ManagementAndGeneral |
Fees For Services Management FeesForServicesManagement
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Fees For Services Legal FeesForServicesLegal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 73952 | Total |
| Management And General | 73952 | ManagementAndGeneral |
Fees For Services Accounting FeesForServicesAccounting
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 68390 | Total |
| Management And General | 68390 | ManagementAndGeneral |
Fees For Services Lobbying FeesForServicesLobbying
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Fees For Services Prof Fundraising FeesForServicesProfFundraising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Fees For Services Invst Mgmnt Fees FeesForServicesInvstMgmntFees
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Fees For Services Other FeesForServicesOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 275550 | Total |
| Program Services | 275550 | ProgramServices |
Advertising Advertising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 591507 | Total |
| Program Services | 591507 | ProgramServices |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1279907 | Total |
| Program Services | 1279907 | ProgramServices |
Information Technology InformationTechnology
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Royalties Royalties
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Occupancy Occupancy
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 346045 | Total |
| Program Services | 346045 | ProgramServices |
Travel Travel
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 247622 | Total |
| Program Services | 241069 | ProgramServices |
| Management And General | 6553 | ManagementAndGeneral |
Travel Entrtnmnt Public Officials TravelEntrtnmntPublicOfficials
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Conferences Meetings ConferencesMeetings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 42759 | Total |
| Program Services | 42759 | ProgramServices |
Interest Interest
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Payments To Affiliates PaymentsToAffiliates
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 97076 | Total |
| Program Services | 97076 | ProgramServices |
Insurance Insurance
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Other Expenses OtherExpenses (4 entries)
| DescriptionDescription | TotalTotal | Program ServicesProgramServices | Management And GeneralManagementAndGeneral |
|---|---|---|---|
| BORROWER SKIP TRACING | 106640 | 106640 | |
| Collection Fees | 29248293 | 29248293 | |
| CORP SUPPORT FUNC ALLOCATION | 13839643 | 10810058 | 3029585 |
| Discount-Rehab Loans | 9394410 | 9394410 |
All Other Expenses AllOtherExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 61987 | Total |
| Program Services | 61987 | ProgramServices |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 69127108 | Total |
| Program Services | 64872653 | ProgramServices |
| Management And General | 4254455 | ManagementAndGeneral |
| Fundraising | 0 | Fundraising |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1910175 | BOY |
| EOY | 3547654 | EOY |
Savings And Temp Cash Investments SavingsAndTempCashInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 99994311 | BOY |
| EOY | 122336827 | EOY |
Pledges And Grants Receivable PledgesAndGrantsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Accounts Receivable AccountsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 7747378 | BOY |
| EOY | 7827245 | EOY |
Receivables From Officers Etc ReceivablesFromOfficersEtc
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Receivables From Disqual Persons ReceivablesFromDisqualPersons
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Other Notes Loans Receivable Net OtherNotesLoansReceivableNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Inventories For Sale Or Use InventoriesForSaleOrUse
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 124175 | BOY |
| EOY | 123430 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Buildings Equipment Basis | 16382174 | LandBuildingsEquipmentBasis |
| Land Bldg Equipment Accum Deprec | 2472053 | LandBldgEquipmentAccumDeprec |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 13735182 | BOY |
| EOY | 13910121 | EOY |
Investments Pub Traded Securities InvestmentsPubTradedSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 59035399 | EOY |
Investments Other Securities InvestmentsOtherSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Investments Program Related InvestmentsProgramRelated
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Intangible Assets IntangibleAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 8478323 | BOY |
| EOY | 10411677 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 131989544 | BOY |
| EOY | 217192353 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 5385637 | BOY |
| EOY | 5821479 | EOY |
Grants Payable GrantsPayable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Deferred Revenue DeferredRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 8212553 | BOY |
| EOY | 8224795 | EOY |
Tax Exempt Bond Liabilities TaxExemptBondLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Escrow Account Liability EscrowAccountLiability
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Loans From Officers Directors LoansFromOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Mort Notes Pybl Secured Invest Prop MortNotesPyblSecuredInvestProp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Unsecured Notes Loans Payable UnsecuredNotesLoansPayable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 17771856 | BOY |
| EOY | 19741177 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 31370046 | BOY |
| EOY | 33787451 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Follow SFAS117 | X | FollowSFAS117 |
Unrestricted Net Assets UnrestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 100619498 | BOY |
| EOY | 183404902 | EOY |
Temporarily Restricted Net Assets TemporarilyRestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Permanently Restricted Net Assets PermanentlyRestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 100619498 | BOY |
| EOY | 183404902 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 131989544 | BOY |
| EOY | 217192353 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | X | InfoInScheduleOPartXI |
| Reconcilation Revenue Expenses | 82580202 | ReconcilationRevenueExpenses |
| Reconcilation Other Changes | 205202 | ReconcilationOtherChanges |
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | false | AccountantCompileOrReview |
| FS Audited | true | FSAudited |
| Audit Committee | true | AuditCommittee |
| Financial Statement Consolidated | X | FinancialStatementConsolidated |
| Federal Grant Audit Required | true | FederalGrantAuditRequired |
| Federal Grant Audit Performed | true | FederalGrantAuditPerformed |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Publicly Supported Org509a2 | X | PubliclySupportedOrg509a2 |
Gifts Grants Contrib Received509 GiftsGrantsContribReceived509
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 0 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 284412 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 913068 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 1317329 | CurrentTaxYearMinus1Year |
| Current Tax Year | 1700576 | CurrentTaxYear |
| Total | 4215385 | Total |
Gross Receipts From Admissions GrossReceiptsFromAdmissions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 149589389 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 132499527 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 117872136 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 115613140 | CurrentTaxYearMinus1Year |
| Current Tax Year | 149383595 | CurrentTaxYear |
| Total | 664957787 | Total |
Total509 Total509
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 149589389 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 132783939 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 118785204 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 116930469 | CurrentTaxYearMinus1Year |
| Current Tax Year | 151084171 | CurrentTaxYear |
| Total | 669173172 | Total |
Amts Recd From Disqual Persons AmtsRecdFromDisqualPersons
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 0 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 0 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 0 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 0 | CurrentTaxYearMinus1Year |
| Total | 0 | Total |
Amts From Subst Contributors AmtsFromSubstContributors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 0 | CurrentTaxYearMinus4Years |
| Total | 0 | Total |
Support From DQ Ps Etc SupportFromDQPsEtc
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 0 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 0 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 0 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 0 | CurrentTaxYearMinus1Year |
| Total | 0 | Total |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Support Total509 | 669173172 | PublicSupportTotal509 |
Gross Investment Income509 GrossInvestmentIncome509
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 4742867 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 3064301 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 2199624 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 2158910 | CurrentTaxYearMinus1Year |
| Current Tax Year | 2391989 | CurrentTaxYear |
| Total | 14557691 | Total |
Investment Income And UBTI InvestmentIncomeAndUBTI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 4742867 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 3064301 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 2199624 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 2158910 | CurrentTaxYearMinus1Year |
| Current Tax Year | 2391989 | CurrentTaxYear |
| Total | 14557691 | Total |
Other Income509 OtherIncome509
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | -232318 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 9492 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 325404 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 146192 | CurrentTaxYearMinus1Year |
| Current Tax Year | 67605 | CurrentTaxYear |
| Total | 316375 | Total |
Total Support Total TotalSupportTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 154099938 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 135857732 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 121310232 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 119235571 | CurrentTaxYearMinus1Year |
| Current Tax Year | 153543765 | CurrentTaxYear |
| Total | 684047238 | Total |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Support Percentage509 | 0.97826 | PublicSupportPercentage509 |
| Prior Year Support Percentage | 0.97691 | PriorYearSupportPercentage |
| Investment Income Percentage | 0.02128 | InvestmentIncomePercentage |
| Prior Yr Invest Income Percentage | 0.02302 | PriorYrInvestIncomePercentage |
| Thirty Three Percnt Tests CY509 | X | ThirtyThreePercntTestsCY509 |
| General Explanation | *2007 - ($200,000) - Adjustments to Revenue Previously recognized due to return of department of education revenues, for default aversion fees. *2009 - $324,041 - Affiliation earnings adjustment *2010 - $100,000 - EAC ELM Redemption *2010 - $38,000 - Dakota Corp Administrative Services Fee *2011 - $47,500 - EAC ELM Redemption *2011 - $12,000 - Dakota Corp Administrative Services Fee | GeneralExplanation |
Schedule B IRS990ScheduleB
Contributor Info ContributorInfo
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor Number | RESTRICTED | ContributorNumber |
Contributor Name Business ContributorNameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor Address US ContributorAddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Aggregate Contributions | RESTRICTED | AggregateContributions |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Art Public Exhibition Amts | ArtPublicExhibitionAmts | |
| Held Works Of Art Amts | HeldWorksOfArtAmts | |
| Agent Trustee Etc | true | AgentTrusteeEtc |
| Beginning Balance | 242373170 | BeginningBalance |
| Additions During Year | 14863570 | AdditionsDuringYear |
| Distributions During Year | 36725290 | DistributionsDuringYear |
| Ending Balance | 220511450 | EndingBalance |
| Included On FS | false | IncludedOnFS |
| Current Year Minus3 Years | CurrentYearMinus3Years |
Land Land
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 542660 | OtherCostOrOtherBasis |
| Book Value | 542660 | BookValue |
Buildings Buildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 14674560 | OtherCostOrOtherBasis |
| Depreciation | 1769512 | Depreciation |
| Book Value | 12905048 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Leasehold Improvements | LeaseholdImprovements |
Equipment Equipment
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 960032 | OtherCostOrOtherBasis |
| Depreciation | 596354 | Depreciation |
| Book Value | 363678 | BookValue |
Other Land Buildings OtherLandBuildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 204922 | OtherCostOrOtherBasis |
| Depreciation | 106187 | Depreciation |
| Book Value | 98735 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 13910121 | TotalOfBookValueLandBuildings |
| Federal Income Tax Liability | 0 | FederalIncomeTaxLiability |
Other Liabilities OtherLiabilities (4 entries)
| DescriptionDescription | AmountAmount |
|---|---|
| RESERVE-DEFAULT AVERSION FEES | $14,504,214 |
| DUE TO FEDERAL GOVERNMENT | $30,008 |
| INTERCOMPANY & MISC. PAYABLES | $3,971,628 |
| COMPENSATION PLAN PAYABLE | $1,235,327 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Amounts | 19741177 | TotalOfAmounts |
Form990 Schedule D Part XIV Form990ScheduleDPartXIV (2 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| SUPPLEMENTAL INFORMATION | Schedule D, Part IV, Line 1b | CUSTODIAL ACCOUNT: Great Lakes Higher Education Guaranty Corporation (GLHEGC) conducts activity related to the guarantee of student loans made to post-secondary education students and to their parents in accordance with the Federal Family Education Loan Program (PROGRAM) established by Title IV, Part B of the Federal Higher Education Act of 1965, As Amended, and the administration of certain net assets of the PROGRAM. The Higher Education Amendments of 1998 (1998 Amendments) were enacted on October 7, 1998, with an effective date of October 1, 1998. Pursuant to the 1998 Amendments, GLHEGC established a Federal Student Loan Reserve Fund (FSLRF) to account for program activities. The FSLRF assets and earnings on those assets are the property of the Federal Government. Since the FSLRF assets are the property of the United States Government, the accounts and activities of the FSLRF are not included in the GLHEGC Form 990, Part X. GLHEGC exercises the level of care required of a fiduciary charged with the duty of protecting, investing and administering these assets. |
| Form 990 Part IV, Line 9 and Schedule D, Part IV | One aspect of the full-range guaranty services is to provide collection assistance to lenders for delinquent loans. This includes contacting the borrower to attempt to restore the loan to a current status through various options. This contact also involves educating and/or counseling borrowers. In addition, GLHEGC provides direct support of personal financial management education, financial aid awareness and college access initiatives, and guidance and counsel on consolidation loans and loan rehabilitation under the Higher Education Act. |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Records Maintained | true | RecordsMaintained |
Recipient Table RecipientTable (26 entries)
| Address Line1AddressUS/AddressLine1 | Address Line2AddressUS/AddressLine2 | CityAddressUS/City | StateAddressUS/State | ZIP CodeAddressUS/ZIPCode | Amount Of Cash GrantAmountOfCashGrant | Purpose Of GrantPurposeOfGrant | EIN Of RecipientEINOfRecipient | IRC SectionIRCSection |
|---|---|---|---|---|---|---|---|---|
| ACS | ||||||||
| PO Box 371821 | Suite 5 | Pittsburgh | PA | 152507821 | 20000 | College Access Champion | ||
| Admission Possible | ||||||||
| 450 N Syndicate Street | Suite 200 | St Paul | MN | 55104 | 150000 | 411968798 | 501(c)(3) | |
| Beloit College | ||||||||
| 700 College Street | Suite 200 | Beloit | WI | 53511 | 18000 | Help Yourself Prgrams | 390808497 | 501(c)(3) |
| CEO Leadership Academy | ||||||||
| 3222 West Brown Street | Suite 200 | Milwaukee | WI | 53208 | 24886 | College Planning Enrichment Project | 300322248 | 501(c)(3) |
| CITI Bank Student Loans | ||||||||
| PO Box 6615 | The Lakes | NV | 88901 | 10000 | College Access Champion | |||
| Dr George Washington Carver Academy | ||||||||
| 1900 North 1st Street | Milwaukee | WI | 53212 | 21116 | College Tour Grant | govt | ||
| Edgewood College | ||||||||
| 1000 Edgewood College Dr Madison W | Madison | WI | 53711 | 23333 | Community Scholars Grant | 390806202 | 501(c)(3) | |
| Good Hope Economic Development Corporation | ||||||||
| 8605 West Good Hope Rd Milwaukee W | Milwaukee | WI | 53224 | 34075 | High School College Visit Grants | 260059784 | 501(c)(3) | |
| Great Lakes Educational Loan Services Inc | ||||||||
| 2401 International Lane | Suite 410N | Madison | WI | 53704 | 128045 | College Access Champion | 391864035 | |
| Green Bay Area Public Schools | ||||||||
| 200 South Broadway | Suite 410N | Green Bay | WI | 54303 | 7179 | AVID Program Grant | Govt | |
| Milwaukee Public Schools College Access Center | ||||||||
| 5225 West Vleit Street | 1220 Linden Drive | Milwaukee | WI | 53208 | 64379 | The Degree Project | govt | |
| NELNET | ||||||||
| 121 S 13th St ste 201 lincoln NE | Lincoln | NE | 68508 | 14443 | College Access Champion | |||
| OASFAA | ||||||||
| 525 South Main Street | Ada | OH | 45810 | 25000 | College Goal Sunday | 310883788 | 501(c)(3) | |
| Ohio College Access Network | ||||||||
| 500 S Front St Ste 980 | Suite 980 | Columbus | OH | 43215 | 450000 | College Access Investment Program | 311677604 | 501(c)(3) |
| Sallie Mae Servicing Corp | ||||||||
| 12061 Bluemont Way | Reston | VA | 20190 | 27530 | College Access Champion | 522013874 | ||
| Southwest Minnesota Private Industry Counc | ||||||||
| 607 West Main Street | Marshall | MN | 56258 | 6250 | Outreach to Schools Program | 411487964 | 501(c)(3) | |
| St Cloud Technical College | ||||||||
| 1540 Northway Drive | St Cloud | MN | 56303 | 40125 | College Upward Bound Program | 411687554 | Govt | |
| Urban League of Greater Madison | ||||||||
| 2222 S Park St ste 200 madison wi 5 | Madison | WI | 537132168 | 75000 | MLK Awards & Scholarship | 391098146 | 501(c)(3) | |
| US Department of Education | ||||||||
| PO Box 530260 | Atlanta | GA | 30353 | 39904 | College Access Champion | Govt | ||
| UW-Eau Claire | ||||||||
| 105 Garfield Avenue | Eau Claire | WI | 54702 | 68050 | Bluegold Beginnings Initiative Grant | 396006492 | 501(c)(3) | |
| UW-Stevens Point | ||||||||
| 2100 Main Street | Stevens Point | WI | 54481 | 7066 | Upward Bound Program | 391805963 | 501(c)(3) | |
| UW-Whitewater | ||||||||
| 800 West Main Street | Whitewater | WI | 53190 | 30300 | Upward Bound Program | govt | ||
| West Central Wisconsin Comm Action Agency | ||||||||
| PO Box 308 | Glenwood City | WI | 54013 | 13988 | Skills Enhancement Program | 391076125 | 501(c)(3) | |
| Western Assoc of Student Financial Aid | ||||||||
| 100 North East Avenue | Waukesha | WI | 53186 | 25000 | College Goal Sundat 2012 Program | 396279228 | 501(c)(3) | |
| Wisconsin Covenant Foundation Inc | ||||||||
| 2401 International Lane | Madison | WI | 53704 | 138221 | Contributed Organizations Costs | 261550326 | 501(c)(3) | |
| XAP | ||||||||
| 3534 Hayden Avenue | Suite 100 | Culver City | CA | 90232 | 147636 | Wisconsin Mentor Maintenance | 954610552 | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Nbr Of501 C3 And Govt Grants | 20 | TotalNbrOf501C3AndGovtGrants |
| Total Nbr Of Other Organizations | 6 | TotalNbrOfOtherOrganizations |
Form990 Schedule I Part IV Form990ScheduleIPartIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | Form 990, Schedule I - Part I, Line 2 | Identifier |
| Return Reference | Description of Organization's Procedures for Monitoring the Use of Grants | ReturnReference |
| Explanation | In The United States: Great Lakes Higher Education Guaranty Corporation (GLHEGC) receives periodic reports from funded programs to determine whether the program is successfully meeting its goals and objectives, and whether the provided funds were appropriately expended. GLHEGC's staff conducts site visits to college access supported programs to observe the program. Where practicable, the disbursements are scheduled to coincide with program activities. Per the College Access Champion (CAC) Program, grants were submitted to the following organizations on behalf of the CAC award recipients: ACS - $20,000 CITI Bank Student Loans - $10,000 Great Lakes Educational Loan Services, Inc. - $128,045 NELNET - $14,443 Sallie Mae Servicing Corporation - $27,530 US Department of Education - $39,904 | Explanation |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Severance Payment | false | SeverancePayment |
| Supplemental Nonqual Retire Plan | true | SupplementalNonqualRetirePlan |
| Equity Based Comp Arrangement | false | EquityBasedCompArrangement |
| Comp Based On Revenue Of Filing Org | false | CompBasedOnRevenueOfFilingOrg |
| Comp Based On Revenue Related Orgs | false | CompBasedOnRevenueRelatedOrgs |
| Comp Based Net Earnings Filing Org | false | CompBasedNetEarningsFilingOrg |
| Comp Based Net Earnings Relate Orgs | false | CompBasedNetEarningsRelateOrgs |
| Any Non Fixed Payments | false | AnyNonFixedPayments |
| Initial Contract Exception | false | InitialContractException |
Form990 Schedule J Part II Form990ScheduleJPartII (6 entries)
| Base Compensation Filing OrgBaseCompensationFilingOrg | Comp Based On Related OrgsCompBasedOnRelatedOrgs | Bonus Filing OrgBonusFilingOrg | Bonus Related OrgsBonusRelatedOrgs | Other Compensation Filing OrgOtherCompensationFilingOrg | Other Compensation Related OrgsOtherCompensationRelatedOrgs | Deferred Comp Filing OrgDeferredCompFilingOrg | Deferred Comp Related OrgsDeferredCompRelatedOrgs | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrg | Nontaxable Benefits Related OrgsNontaxableBenefitsRelatedOrgs | Total Compensation Filing OrgTotalCompensationFilingOrg | Total Compensation Related OrgsTotalCompensationRelatedOrgs | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrg | Comp Report Prior990 Related OrgsCompReportPrior990RelatedOrgs |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Richard D George 23 | |||||||||||||
| 0 | 268126 | 0 | 275591 | 0 | 3890 | 0 | 29769 | 0 | 20406 | 0 | 597782 | 0 | 0 |
| Nancy Seifert 3 | |||||||||||||
| 0 | 154415 | 0 | 160550 | 0 | 1331 | 0 | 29926 | 0 | 20060 | 0 | 366282 | 0 | 0 |
| Clark Wold | |||||||||||||
| 136096 | 0 | 60331 | 0 | 3213 | 0 | 23236 | 0 | 10352 | 0 | 233228 | 0 | 0 | 0 |
| Amy Kobishop | |||||||||||||
| 135000 | 0 | 115524 | 0 | 279 | 0 | 29645 | 0 | 3026 | 0 | 283474 | 0 | 0 | 0 |
| Beth Erickson | |||||||||||||
| 123332 | 0 | 85524 | 0 | 4364 | 0 | 25703 | 0 | 15856 | 0 | 254779 | 0 | 0 | 0 |
| Jacqueline Fairbairn | |||||||||||||
| 101769 | 0 | 75566 | 0 | 315 | 0 | 23361 | 0 | 25148 | 0 | 226159 | 0 | 0 | 0 |
Form990 Schedule J Part III Form990ScheduleJPartIII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | Supplemental Compensation Information | Identifier |
| Return Reference | Schedule J, Part I, Line 4b | ReturnReference |
| Explanation | The Following individuals participated in a supplemental nonqualified retirement plan: Richard George, Nancy Seifert, and Jacqueline Fairbairn. 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)
| RelationshipRelationship | Amount Of TransactionAmountOfTransaction | Description Of TransactionDescriptionOfTransaction | Sharing Of RevenuesSharingOfRevenues |
|---|---|---|---|
| Great Lakes Educational Loan Svcs | |||
| Contrl Ent/officer ovrlap | 2056000 | GLELSI Bldg Rent Pd to GLHEGC | false |
| Great Lakes Educational Loan Svcs | |||
| Contrl Ent/officer ovrlap | 2822786 | Intercompany Reimb. to GLELSI | false |
Form990 Schedule L Part V Form990ScheduleLPartV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | Description of Transaction | Identifier |
| Return Reference | Schedule L, Part IV | ReturnReference |
| Explanation | 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 Great Lakes Higher Education Guaranty Corporation. He also serves as the Chairman of Great Lakes Educational Loan Services, Inc. | Explanation |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (15 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| Members and Stockholders: | Form 990, Part VI, Question 6 & 7A | Great Lakes Higher Education Corporation, a nonprofit 501(c)(3) corporation, is the sole member of Great Lakes Higher Education Guaranty Corporation (GLHEGC) and has the authority to appoint the GLHEGC board. |
| DECISIONS OF GOVERNING BODY SUBJECT TO APPROVAL: | Form 990, Part VI, Question 7b | Great Lakes Higher Education Corporation, a nonprofit 501(c)(3) corporation, as sole member of Great Lakes Higher Education Guaranty Corporation (GLHEGC), 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: | Form 990, Part VI, Question 11B | On an annual basis, the Chairman of the Board, CEO, General Counsel and the Audit Committee review the Form 990 prior to filing. At a subsequent Board of Director and/or Personnel Policy Committee meeting, the relevant Form 990 information is reviewed including the compensation schedules, and the conflicts of interest questionnaires are completed by each director. |
| Description of process to monitor transactions for conflicts of interest: | Form 990, 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. |
| Process for determining compensation: | Form 990, Part VI, Question 15b | The compensation of all of the officers is determined annually by the Personnel Policy Committee of the Board of Directors. The Personnel Policy Committee's report is submitted to the Board of Directors for approval. The decisions are documented in the Board minutes. Every two to three years, an independent compensation study is performed. |
| Availability of Governing Documents, Conflict of Interest Policy, and | Financial Statements to General Public: | Form 990, 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 2 hours 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. |
| Corporate Support Function Allocation: | Form 990, Part IX, Line 24c | Allocated expenses include salaries, fringe benefits, supplies and services allocated from Great Lakes Higher Education Corporation for management and administrative services; and the GLHEC/GLELSI agreement expenses for guaranty service activities, technology support and administrative support. |
| Other Changes in Net Assets | Form 990 XI, Line 5 | $ 205,204 - Unrealized Loss on Investments ----------- $ 205,204 - Other Changes in Net Assets |
| HOURS DEVOTED FOR RELATED ORGANIZATION | FORM 990 PART VII | NAME:Emerson L. Brumback (1) TITLE:Director/Committee Chairman HOURS:3 |
| HOURS DEVOTED FOR RELATED ORGANIZATION | FORM 990 PART VII | NAME:David J. Hanson (1)(4) TITLE:Director/Secretary HOURS:6 |
| HOURS DEVOTED FOR RELATED ORGANIZATION | FORM 990 PART VII | NAME:Janice Hesalroad (1) TITLE:Director HOURS:6 |
| HOURS DEVOTED FOR RELATED ORGANIZATION | FORM 990 PART VII | NAME:Richard A. Weiss (1) TITLE:Director HOURS:6 |
| HOURS DEVOTED FOR RELATED ORGANIZATION | FORM 990 PART VII | NAME:Richard D. George (2)(3) TITLE:Chairman/Pres/Ceo/Treasurer HOURS:59 |
| HOURS DEVOTED FOR RELATED ORGANIZATION | FORM 990 PART VII | NAME:Nancy Seifert (3) TITLE:CFO/Asst Secretary HOURS:54 |
Schedule R IRS990ScheduleR
Form990 Schedule R Part II Form990ScheduleRPartII (2 entries)
| Address Line1AddressUS/AddressLine1 | CityAddressUS/City | StateAddressUS/State | ZIP CodeAddressUS/ZIPCode | EINEIN | Primary ActivitiesPrimaryActivities | Legal Domicile StateLegalDomicileState | Exempt Code SectionExemptCodeSection | Public Charity StatusPublicCharityStatus | Business Name Line1DirectControllingEntityName/BusinessNameLine1 | Controlled OrgControlledOrg |
|---|---|---|---|---|---|---|---|---|---|---|
| Great Lakes Higher Education Corporation | ||||||||||
| 2401 International Lane | Madison | WI | 53704 | 391090394 | Stdnt Ln Svcs | WI | 501(c)(3) | 11B Type 2 | NA | false |
| Northstar Gurantee Inc | ||||||||||
| 2401 International Lane | Madison | WI | 53704 | 411689095 | Stdt Rehab Ln | MN | 501(c)(3) | 9 | GLHEC | true |
Form990 Schedule R Part IV Form990ScheduleRPartIV
Name Of Related Org NameOfRelatedOrg
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Great Lakes Educational Loan Svcs Inc | BusinessNameLine1 |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2401 International Lane | AddressLine1 |
| City | Madison | City |
| State | WI | State |
| ZIP Code | 53704 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 391864035 | EIN |
| Primary Activity | Student Loan Svcs | PrimaryActivity |
| Legal Domicile State | WI | LegalDomicileState |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | NA | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Type Of Entity | C Corp | TypeOfEntity |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Ann Rents Royalties | true | ReceiptOfIntAnnRentsRoyalties |
| Gift Grant Or Cap Contr To Other Org | false | GiftGrantOrCapContrToOtherOrg |
| Gift Grant Or Cap Contr Fr Other Org | false | GiftGrantOrCapContrFrOtherOrg |
| Loans Or Guarantees To Other Org | false | LoansOrGuaranteesToOtherOrg |
| Loans Or Guarantees From Other Org | false | LoansOrGuaranteesFromOtherOrg |
| Sale Of Assets To Other Org | false | SaleOfAssetsToOtherOrg |
| Purchase Of Assets From Other Org | false | PurchaseOfAssetsFromOtherOrg |
| Exchange Of Assets | false | ExchangeOfAssets |
| Rental Of Facilities To Other Orgs | true | RentalOfFacilitiesToOtherOrgs |
| Rental Of Facilities Fr Other Orgs | false | RentalOfFacilitiesFrOtherOrgs |
| Perform Of Services For Other Orgs | false | PerformOfServicesForOtherOrgs |
| Perform Of Services By Other Orgs | false | PerformOfServicesByOtherOrgs |
| Sharing Of Facilities | false | SharingOfFacilities |
| Sharing Of Paid Employees | false | SharingOfPaidEmployees |
| Reimbursement Paid To Other Org | true | ReimbursementPaidToOtherOrg |
| Reimbursement Paid By Other Org | false | ReimbursementPaidByOtherOrg |
| Other Transfer To Other Org | false | OtherTransferToOtherOrg |
| Other Transfer From Other Org | false | OtherTransferFromOtherOrg |
Transactions Related Orgs Table TransactionsRelatedOrgsTable (2 entries)
| Transaction TypeTransactionType | Amount InvolvedAmountInvolved | Method Of Amt DeterminationMethodOfAmtDetermination |
|---|---|---|
| Great Lakes Educational Loan Services Inc | ||
| a | 2056000 | FMV |
| Great Lakes Educational Loan Services Inc | ||
| o | 2822786 | ACTUAL COST |
Comments