2011-10-14T14:31:33-04:00 2010-12-31 ERNST & YOUNG US LLP 111 MONUMENT CIRCLE STE 2600 INDIANAPOLIS IN 46204 990 2010-01-01 391853833 Great Lakes Higher Education Guaranty Corp GREA 6082461410 2401 International Lane Madison WI 53704 Richard D George 2011-10-06 3176817000 2010 2016-03-07 17:11:31Z Richard D George 2401 International Lane Madison WI 53704 119235571 false X www.mygreatlakes.org X 1996 WI 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. X 7 6 171 0 0 913068 1317329 117872136 115613140 337694 -62430 754799 342301 119877697 117210340 55768603 45555377 0 0 9525889 12221100 0 0 0 63820298 49992995 129114790 107769472 -9237093 9440868 140165238 131989544 48654201 31370046 91511037 100619498 Great Lakes Higher Education Guaranty Corporation operates to provide FOR COST EFFECTIVE ENABLEMENT OF ACCESS TO POST-SECONDARY EDUCATION BY PROVIDING FULL-RANGE GUARANTY AGENCY SERVICES 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. false false 103573426 45555377 115613140 Great Lakes Higher Education Guaranty Corporation operates to provide for cost effective enablement of access to post-secondary education by providing full-range guaranty agency services 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. 103573426 true true false false false false false true false true false false true true false false true false false false false false false false false false true false true false false false false false false false true false false false true false true true true false false true 71186 0 true 171 true false false false false false false false false false false X 7 6 false false false false true true true true true false false false true true true true true false true false X NANCY SEIFERT 6082461410 2401 INTERNATIONAL LANE Madison WI 53704 X Emerson L Brumback 1 2.0 X 7000 0 0 David J Hanson 14 2.0 X 0 0 0 Janice Hesalroad 1 2.0 X 5667 0 0 Thomas A Scarlett 1 2.0 X 14000 0 0 Cynthia Walsh 1 2.0 X 17000 0 0 Richard A Weiss 1 2.0 X 4667 0 0 Richard D George 23 1.0 X X 0 547689 64313 Nancy Seifert 3 1.0 X 0 316929 50779 Clark Wold 50.0 X 232894 0 45604 Amy Kobishop 50.0 X 272461 0 29836 Beth Erickson 50.0 X 188313 0 37398 Jacqueline Fairbairn 50.0 X 138408 0 41887 Steven Schmidt 45.0 X 111273 0 31166 991683 864618 300983 5 false true false Diversified Collection Services In 333 N Canyons Pkwy Suite 100 LIVERMORE CA 94551 Collection Services 18015170 NCO PO Box 935 BROOKFIELD WI 53005 Collection/Location 773219 Badger Press Inc 100 East Blackhawk Dr FORT ATKINSON WI 53538 Printing 330319 XAP Corporation 3534 Hayden Avenue CULVER CITY CA 90232 System Oper/Mainten. 250808 Qualitemps PO BOX 552 MADISON WI 537010552 Temperory Office Svs 209360 9 1317329 1317329 Collections & Rehabilitations 900099 61758718 61758718 Account Maintenance Fees 900099 28461116 28461116 Issuance Fees 900099 12039898 12039898 DEFAULT AVERSION FEES 900099 13258408 13258408 Rental Income 532000 95000 95000 115613140 136910 136910 0 0 2022000 1825891 196109 196109 196109 199340 -199340 -199340 -199340 0 0 0 EAC ELM Redemption 900099 100000 100000 Dakota Corp Administrative Services Fee 900099 38000 38000 ALL OTHER REVENUE 900099 8192 8192 146192 117210340 115613140 0 279871 45555377 45555377 0 0 0 1008284 1008284 0 8376239 8376239 837972 837972 1277035 1277035 721570 682307 39263 0 73885 73885 75545 75545 0 0 0 243640 243640 235657 235657 1407606 1407606 0 0 336717 336717 252813 246861 5952 0 28570 28570 0 0 126123 126123 0 Borrower Tracing 96767 96767 Collection Fees 18880119 18880119 Corp Support Func Allocation 21470353 18477236 2993117 Discount-Rehab Loans 6735003 6735003 All other expenses 30197 30197 107769472 103573426 4196046 0 2315031 1910175 93738646 99994311 13995797 7747378 339557 124175 15666637 1931455 12320642 13735182 17455565 8478323 140165238 131989544 4760302 5385637 7597536 8212553 36296363 17771856 48654201 31370046 X 91511037 100619498 91511037 100619498 140165238 131989544 X 9440868 -332407 X false true true X true true X 0 0 284412 913068 1317329 2514809 134079209 149589389 132499527 117872136 115613140 649653401 134079209 149589389 132783939 118785204 116930469 652168210 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 652168210 3198820 4742867 3064301 2199624 2158910 15364522 3198820 4742867 3064301 2199624 2158910 15364522 -199118 -232318 9492 325404 146192 49652 137078911 154099938 135857732 121310232 119235571 667582384 0.97691 0.97895 0.02302 0.02179 X *2006 - ($200,000) & 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 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED true 238487263 41709270 37823363 242373170 false 542660 542660 13984160 1411278 12572882 937257 437341 499916 202559 82835 119724 13735182 REHABILITATION LOANS RECEIV. 4582249 INTERCOMPANY & OTHER RECEIV. 3654471 COMPENSATION PLAN ASSETS 228830 ACCRUED INTEREST RECEIVABLE 12773 8478323 0 RESERVE-DEFAULT AVERSION FEES 12035962 DUE TO FEDERAL GOVERNMENT 182736 INTERCOMPANY & MISC. PAYABLES 4227675 COMPENSATION PLAN PAYABLE 1325483 17771856 SUPPLEMENTAL INFORMATION Schdule 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 activites. 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: 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. true ACHIEVEMINNEAPOLIS 111 3rd Avenue South Suite 5 Minneapolis MN 55401 411425264 501(c)(3) 119655 Achieve Career and College Initiative ACS PO Box 9001561 Louisville KY 40290 59879 College Access Champion Admission Possible 450 N Syndicate Street Suite 200 St Paul MN 55104 411968798 501(c)(3) 299693 College Preparation Afro World Enterprises LTD 2821 N 4th Street Suite 200 Milwaukee WI 53212 391422633 501(c)(3) 41475 Back to School Event American Education ServicesPHEAA 1200 North Seventh Street 208 Harrisburg PA 17102 510423553 501(c)(3) 11719 College Access Champion Ashtabula County Continued Education Support Svcs 17 North Market Street Jefferson OH 44047 341930119 501(c)(3) 49000 Support Access Programs Asset Builders of America Inc 1213 North Sherman Avenue Madison WI 73704 392005260 501(c)(3) 17500 Financial Literacy & Awareness Beloit College 700 College Street Beloit WI 53511 390808497 501(c)(3) 34170 Help Yourself Programs Big Brothers Big Sisters of Gtr Twin Cities 2550 University Avenue Suite 410N St Paul MN 55114 320017737 501(c)(3) 75000 Education Initiative Board of Regents of UW System 1860 Van Hise Hall Suite 410N Madison WI 53706 State of WI 26271 Graduation Benchmark Study Boy Scouts of America 1124 11-1/2 Street SE 1220 Linden Drive Rochester MN 55907 410698309 501(c)(3) 49290 Exploring Grant Program Boys & Girls Club of the Bemidji Area PO Box 191 Bemidji MN 56619 810599601 501(c)(3) 74300 Steps to College Program Boys and Girls Club of Dane County 2001 Taft Street Madison WI 53713 391925617 501(c)(3) 150000 AVID/TOPS Program Boys and Girls Club of Fond Du Lac 131 South Main Street Fond Du Lac WI 54936 391896496 501(c)(3) 12300 Project Learn Program Boys and Girls Club of Rochester 1026 East Center Street Rochester MN 55904 411945875 501(c)(3) 44539 Operation 3.2 Program Boys and Girls Club of West Bend 925 Silverbrook Drive West Bend WI 53090 391773689 501(c)(3) 26075 Youth Math & Science Program Boys and Girls Club of Central Minnesota 345 - 30th Avenue North St Cloud MN 56303 411245177 501(c)(3) 72376 Core Program Grant Boys and Girls Club of Greater Milwaukee 1558 6th Street Milwaukee WI 53212 390806292 501(c)(3) 73535 Horizons Initiative Program Boys and Girls Club of of the Northland PO Box 16435 Duluth MN 55816 410969947 501(c)(3) 51918 ACES Program Brainerd Lakes Chambers of Comm Edn Assn PO Box 356 Brainerd MN 56401 411787694 501(c)(3) 75000 Connection Program Brooklyn Center High School Independent School Dis 6500 Humboldt Avenue North Brooklyn Center MN 55430 Minesota SD-286 75000 AVID Program Grant Carlton County Children & Fly Svcs Collaborative 1215 Avenue C Cloquet MN 55720 Carlton Cnty MN 106650 YES Program Carmen High School of Science & Technology 1712 South 32nd Street Milwaukee WI 53215 562569203 501(c)(3) 8430 College Visits for Students Programs Central Minnesota Jobs and Training Services Inc 106 Pine Street Monticello MN 55362 411484048 501(c)(3) 64930 Camps to Careers Programs Centro Campesino Inc 216 Oak Avenue North Owatonna MN 55060 411945775 501(c)(3) 34194 Educational Equity Project Century College 3300 Century Avenue North White Bear Lake MN 55110 Minnesota SCUS 7616 Upward Bound/Trio Program CEO Leadership Academy 3222 West Brown Street Milwaukee WI 53208 396003457 501(c)(3) 47700 College Planning Enrichment Project Cooperative Education Service Agency #3 1300 Industrial Drive Fennimore WI 53809 CESA Wisconsin 13940 Reality Check: Financial Literacy Program Chase Student Loan Servicing LLC PO Box 7013 Indianapolis IN 46207 15000 College Access Champion Cincinnati State Tech & Community College 3520 Central Parkway Suite 005 Cincinnati OH 45223 311430847 501(c)(3) 58500 Grant for Upward Bound Math & Science Institute College of St BenedictSt Johns University 37 South College Avenue Suite 005 St Joseph MN 56374 410969244 501(c)(3) 18065 Upward Bound Program Grant College of St Scholastica 1200 Kenwood Ave Duluth MN 55811 410698301 501(c)(3) 57726 Upward Bound Grant Common Wealth Development Inc 1501 Williamson Street Madison WI 53703 391323500 501(c)(3) 60000 Financial Education/Youth Programs CouleeCap Inc 201 Melby Street Westby WI 54667 391077614 501(c)(3) 75000 Skills Enhancement Program Dr George Washington Carver Acad of Math & Sc 1900 North 1st Street Milwaukee WI 53212 Milwauke Pub Sc 21724 College Tour Grant Edgewood College 1000 Edgewood College Drive Madison WI 53711 390806202 501(c)(3) 23333 Community Scholars Grant Financial Education Center 2300 South Park Street Suite 005 Madison WI 53703 990148320 501(c)(3) 7500 Sponsorship of Dane County Money Smart Week Forward Service Corporation 1402 Pankratz Street Suite 005 Madison WI 53701 391342890 501(c)(3) 29525 Encourage, Motivate, Prepare Project Grant Girl Scouts of MinnesotaWisconsin LakesPines 400 Second Avenue South Suite 101 Waite Park MN 56387 410877820 501(c)(3) 21091 College 101 Visits Grant Girl Scouts of MinnesotaWisconsin River Vly 400 Robert Smith South Saint Paul MN 55107 410693910 501(c)(3) 93500 College Pathways Program Good Hope Economic Delvelopment Corporation 8605 West Hope Road Milwaukee WI 53224 260059784 501(c)(3) 34250 High School College Visits Grants Great Lakes Educational Loan Services Inc 2401 International Lane Madison WI 53704 153210 College Access Champion Great Lakes Higher Education Corporation 2401 International Lane Suite 100 Madison WI 53704 391090394 501(c)(3) 40000000 Student Financial Aid Activities Green Bay Area Public Schools 200 South Broadway Suite 100 Green Bay WI 54303 GreenBay Pub Sc 24896 AVID Program Grant Greene County College Success Partnership 25 Greene Street NW Tech Bldg 102 Xenia OH 45385 311751001 501(c)(3) 75000 Continuity Planning Grant Indianhead Community Action Agency Inc 209 East Third Street South NW Tech Bldg 102 Ladysmith WI 54848 391086966 501(c)(3) 75000 Fresh Start Program Itasca Community College 1851 East Highway 169 Suite 730 Grand Rapids MN 55744 Minnesota SCUS 17120 TRiO Programs Junior Achievement of the Upper Midwest Inc 1800 White Bear Ave North Maplewood MN 55109 411424988 501(c)(3) 67500 Finance Park and Titan Experience Junior Achievement of Wisconsin Inc 6924 North Port Washington Road 200 Milwaukee WI 53217 390826295 501(c)(3) 18750 Career & Financial Literacy Grant LakeGEAUGA Educational Assistance Fdn 8221 Auburn Road 200 Concord OH 44077 341640416 501(c)(3) 112500 High School Advisory Program Grant Make a Difference Wisconsin Inc 710 North Plankinton Avenue Suite 730 Milwaukee WI 53202 205203533 501(c)(3) 20000 Financial Literacy Mapping Your Future Inc PO Box 5176 Suite 730 Round Rock TX 78683 460458615 501(c)(3) 20676 College/Career Financial Aid Information Mesabi Range Community & Technical College 1001 Chestnut Street West Suite 350 Virginia MN 55792 411687554 501(c)(3) 17255 TRIO Program Grant Minnesota African Women's Association 2207 North Second Street Suite 201 Minneapolis MN 55411 411259139 501(c)(3) 37505 AGILE Program Minnesota Minority Educ Partnership Inc 2233 University Avenue West Suite 201 St Paul MN 55114 411699505 501(c)(3) 61517 MCAN Intiative Grant Minnesota Office of Higher Education 1450 Energy Park Drive 220 St Paul MN 55108 416007162 Govt 61634 Get Ready/GEAR UP Programs Grants Nehemiah community Development Corporation 655 West Badger Road Suite 350 Madison WI 53713 391736091 501(c)(3) 22177 On Ramp College Prep Program Grant NELNET 121 South 13th Street Suite 201 Lincoln NE 68508 32305 College Access Champion Noble County Integration Collaborative 117 11th Avenue Suite 201 Worthington MN 56187 Noble Cnty, MN 69010 College/Career Preparation North Coast Center of Excellence 2830 Napoleon Road Suite 1 Fremont OH 43420 State of Ohio 46201 College Access Program Grant Northfield High School 1400 Division Street S Northfield MN 55057 City of Nrthfld 69946 TORCH Program OASFAA 525 South Main Street 2nd Floor Ada OH 45810 310883788 501(c)(3) 23800 College Goal Oberlin College 173 West Lorain Street 2nd Floor Oberlin OH 44074 340714363 501(c)(3) 10255 Ninde Program Ohio College Access Network 500 South Front Street Suite 980 Columbus OH 43215 311677604 501(c)(3) 474776 College Access Investment Program Operation Fresh Start Inc 1925 Winnebago Street Suite 980 Madison WI 53704 237108090 501(c)(3) 35500 Pathway to Post-Secondary Education People Helping People Milwaukee Inc 2039 W Wells Street Milwaukee WI 53233 261957593 501(c)(3) 13720 RISE Summer 2010 College Tours Grant Project Fine Inc 202 W 3rd Street Winona MN 55987 411883675 501(c)(3) 57042 Education Connection Program Project Grad Cincinnati Inc 301 Oak Street Cincinnati OH 45219 311816376 501(c)(3) 64600 Project GRAD Cincinnati Scholarship Program Sallie Mae Servicing Corp 12061 Bluemont Way Reston VA 20190 45000 College Access Champion Southwest Minnesota Private Industry Council Inc 607 West Main Street Marshall MN 56258 411487964 501(c)(3) 59700 Outreach to Schools Program Southwest Minnesota State University 30 7th Street East Suite 350 St Paul MN 55101 Minnesota SCUS 8499 TRIO Upward Bound Program Grant St Cloud Technical College 1540 Northway Drive Suite 350 St Cloud MN 56303 411687554 Govt 47440 College Bound Program St Olaf College TrioGear Up 1520 St Olaf Avenue Northfield MN 55057 410693979 501(c)(3) 67872 TRIO/GEAR UP Pre-College Programs Strive LLC One West Fourth Street No 200 Cincinnati OH 45202 311321973 501(c)(3) 80000 Cincinnati College Readiness Fund Students & Leaders Net Incorporated 10 E Doty Street No 200 Madison WI 53703 261244214 501(c)(3) 70000 Startup and Operating Expenses Grant US Department of Education PO Box 530260 Atlanta GA 30353 US Govt 105000 College Access Champion UW-Eau Claire 105 Garfield Avenue Eau Claire WI 54702 396006492 501(c)(3) 90658 Blugold Beginnings & Educational Opportunity Centr UW-Fox Valley 1478 Midway Road Menasha WI 54592 State of WI 40532 Educational Talent Search Program UW - Green Bay 2420 Nicolet Drive Green Bay WI 54311 396006492 501(c)(3) 54935 Phuture Phoenix Program UW-Madison University Avenue Madison WI 53706 State of WI 70000 UW-Madison Payback Calculator UW-Milwaukee 3271 Lake Drive Milwaukee WI 53211 396006492 501(c)(3) 46065 Life Impact Program UW-Parkside 900 Wood Road Kenosha WI 53141 396006492 501(c)(3) 30451 Summer Scholars Bridge Program UW-Stevens Point 2100 Main Street Stevens Point WI 54481 396006492 501(c)(3) 6918 Upward Bound Program UW-Stout 712 South Broadway Street Menomonie WI 54751 396006492 501(c)(3) 16329 ASPIRE Summer Bridge Living Learning Community Pro UW-Waukesha Foundation Inc 1500 North University Drive Waukesha WI 53188 391588785 501(c)(3) 42410 Pre-College Program UW-Whitewater 800 West Main Street Whitewater WI 53190 State of WI 35288 Upward Bound Program WASFAA-WI 100 North East Avenue Suite 700 Waukesha WI 53186 396279228 501(c)(3) 25000 College Goal Sunday Program WCGVWVTV TV 4041 N 35th Street Suite 700 Milwaukee WI 53216 45000 FAFSA Outreach Program Wells Fargo Bank NA PO Box 650725 Dallas TX 75265 40000 College Access Champion West Central Wisconsin Community Action Agency PO Box 308 Glenwood City WI 54013 391076125 501(c)(3) 43924 Skills Enhancement Program Western Community Action Inc 400 West Main Street Suite 201 Marshall MN 56258 410888137 501(c)(3) 45124 Generation Next Program Western Dairyland Economic Opportunity Council Inc PO Box 125 Suite 201 Independence WI 54747 391076993 501(c)(3) 75000 Success Incentives Wisconsin Covenant Foundation Inc 2401 International Lane Madison WI 53704 261550326 501(c)(3) 150277 Contributed Organization Costs Wisconsin Covenant Foundation Inc 2401 International Lane Suite 402 Madison WI 53704 261550326 501(c)(3) 79726 Tribute Dinner Wisconsin Dept of Public Instruction 125 S Webster Street Suite 402 Madison WI 53707 State of WI 50341 Kick-Off Conference/CLIMB Theater Event Wisconsin Fdn For Independent Colleges Inc 4425 North Port Washington Road Suite 100resou Milwaukee WI 53212 396068752 501(c)(3) 150000 College Readiness 21 Workforce Resource 401 Technology Drive East Suite 402 Menomonie WI 54751 391455735 501(c)(3) 47368 Resource Youth Career XAP 3534 Hayden Avenue Suite 100 Culver City CA 90232 151646 Wisconsin Mentor Maintenance YMCA of Metropolitan Milwaukee 161 W Wisconsin Avenue Milwaukee WI 53206 390806314 501(c)(3) 44996 Sponsor-A-Scholar Program YMCA of Metropolitan Minnesota 30 South Ninth Street Minneapolis MN 55402 410695629 501(c)(3) 59240 Multi-Cultural Achievers Program Young Womens Christian Assn of La Crosse 3219 Commerce Street La Crosse WI 54603 390810543 501(c)(3) 10395 2010 Summer College Tours 92 8 Form 990, Schedule I - Part I, Line 2 Description of Organization's Procedures for Monitoring the Use of Grants 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 - $59,879 American Education Services (PHEAA) - $11,719 Chase Student Loan Servicing, LLC - $15,000 Great Lakes Educational Loan Services, Inc. - $153,210 NELNET - $32,305 Sallie Mae Servicing Corporation - $45,000 US Department of Education - $105,000 Wells Fargo Bank - $40,000 false true false false false false false false false Richard D George 23 0 268231 0 275572 0 3886 0 45066 0 19247 0 612002 0 Nancy Seifert 3 0 154999 0 160599 0 1331 0 31840 0 18939 0 367708 0 Clark Wold 168577 0 60507 0 3810 0 35639 0 9965 0 278498 0 0 Amy Kobishop 135000 0 115524 0 21937 0 26837 0 2999 0 302297 0 21658 Beth Erickson 113538 0 70524 0 4251 0 22265 0 15133 0 225711 0 0 Jacqueline Fairbairn 87609 0 50536 0 263 0 19154 0 22733 0 180295 0 0 Supplemental Compensation Information Schedule J, Part I, Line 4b THE FOLLOWING INDIVIDUALS PARTICIPATED IN A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN: RICHARD GEORGE, NANCY SEIFERT, Amy Kobishop, and Jacqueline Fairbairn. THERE WERE NO NEW PAYMENTS INTO THE PLAN. AMY KOBISHOP RECEIVED A FINAL PAYMENT FROM THE PLAN IN 2010. 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 2022000 GLELSI Bldg Rent Pd to GLHEGC false Great Lakes Educational Loan Svcs Contrl Ent/officer ovrlap 2695821 Intercompany Reimb. to GLELSI false Cash 2010-03-26 20000000 391090394 Great Lakes Higher Education Corpor 2401 International Lane Madison WI 53704 501(c)(3) Cash 2010-08-23 20000000 391090394 Great Lakes Higher Education Corpor 2401 International Lane Madison WI 53704 501(c)(3) true false false false Part II, Line 2A Organization's annual transfer to Great Lakes Higher Education Corporation Two officers and five directors are officers and directors, respectively, in the transferor and the transferee corporations (related tax-exempt organization). Overlapping Officers: Richard George and Nancy Seifert Overlapping Directors: Emerson Brumback, Richard George, David Hanson, Janice Hesalroad and Richard Weiss. Supplemental Information Form 990, Part VI, Questions 6 and 7a Members and Stockholders: Great Lakes Higher Education Corporation, a nonrofit 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. Form 990, Part VI, Question 7b DECISIONS OF GOVERNING BODY SUBJECT TO APPROVAL: 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. Form 990, Part VI, Question 11B Describe the process the organization used to review the Form 990: On an annual basis, the Chairman of the Board 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. Form 990, Part VI, Question 12c Description of process to monitor transactions for conflicts of interest: 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. Form 990, Part VI, Question 15b Process for determining compensation: 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. Form 990, Part VI, Question 19 Governing Documents, Conflict of Interest Policy, And Financial Statements: Federal tax law does not require that such documents be made publicly available. Documents are available upon specific request. Part VII, Section A Devoted hours to RElated Organizations: GLHEC = Great Lakes Higher Education Corporation NG = Northstar Guarantee Inc. *Richard George - 60 hours with GLHEC and 1 hour with NG *Nancy Seifert - 55 hours with GLHEC and 1 hour with NG Part VII, Section A Compensation Footnotes: (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. Form 990, Part IX, Line 24d Corporate Support Function Allocation: 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 loan guaranty/origination activities, technology support and administrative support. Form 990 XI, Line 5 Other Changes in Net Assets: (2,000,000) - 2009 Transfer Pricing Adjustment 1,660,405 - Affiliation Transfer 7,188 - Unrealized Loss on Investments ----------- (332,407) - Other Changes in Net Assets ----------- Great Lakes Higher Education Corporation 2401 International Lane Madison WI 53704 391090394 Stdnt Ln Svcs WI 501(c)(3) 11B Type 2 NA Northstar Guarantee Inc 2401 International Lane Madison WI 53704 411689095 STDT REHAB LN MN 501(c)(3) 9 GLHEC Education Assistance Corporation 115 1st Avenue SW Aberdeen SD 57401 460344021 Stdnt Ln Svcs SD 501(c)(4) GLHEC Great Lakes Educational Loan Svcs Inc 2401 International Lane Madison WI 53704 391864035 Student Loan Svcs WI NA C Corp true true true false false false false false true false false false false false true false true true Great Lakes Educational Loan Services Inc a 2022000 Great Lakes Educational Loan Services Inc q 2695821 Education Assistance Corporation c 1660405