GRANITE EDVANCE CORPORATION: Form 990, tax year 2009
View the entire original 990 at ProPublica ↗
- Organization
- GRANITE EDVANCE CORPORATION (EIN 02-0368776)
- Tax period
- 2009-10-01 to 2010-09-30
- Filed
- 2011-02-09
- IRS object ID
- 201110409349300636
- Schema version
- 2009v1.7
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Timestamp | 2011-02-09T15:20:18-06:00 | Timestamp |
| Tax Period End Date | 2010-09-30 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | BAKER NEWMAN & NOYES | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 507 | AddressLine1 |
| City | PORTLAND | City |
| State | ME | State |
| ZIP Code | 04112 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2009-10-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 020368776 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | NH HIGHER EDUCATION LOAN CORPORATION | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | NHHI | NameControl |
| Phone | 6032265829 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 4 BARRELL COURT PO BOX 2111 | AddressLine1 |
| City | CONCORD | City |
| State | NH | State |
| ZIP Code | 03302 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | RENE DROUIN | Name |
| Title | PRESIDENT & CEO | Title |
| Phone | 6032265829 | Phone |
| Date Signed | 2011-02-09 | DateSigned |
| Authorize Third Party | 1 | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 2078792100 | Phone |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2009 | TaxYear |
| Build TS | 2016-02-24 21:20:13Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Principal Officer Person | RENE DROUIN | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 4 BARRELL COURT PO BOX 2111 | AddressLine1 |
| City | CONCORD | City |
| State | NH | State |
| ZIP Code | 03302 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 172445210 | GrossReceipts |
| Group Return For Affiliates | 0 | GroupReturnForAffiliates |
| Organization501c | X | Organization501c |
| Web Site | WWW.NHHELCO.ORG | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 1983 | YearFormation |
| State Legal Domicile | NH | StateLegalDomicile |
| Activity Or Mission Description | FINANCIAL ASSISTANCE TO ELIGIBLE BORROWERS | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 5 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 5 | NbrIndependentVotingMembers |
| Total Nbr Employees | 0 | TotalNbrEmployees |
| Total Nbr Volunteers | 5 | TotalNbrVolunteers |
| Total Gross UBI | 0 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | 0 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Current Year | 0 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 81127606 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 68674460 | ProgramServiceRevenueCY |
| Investment Income Prior Year | -1959575 | InvestmentIncomePriorYear |
| Investment Income Current Year | 822247 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 2122500 | OtherRevenuePriorYear |
| Other Revenue Current Year | 91834335 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 81290531 | TotalRevenuePriorYear |
| Total Revenue Current Year | 161331042 | TotalRevenueCurrentYear |
| Grants And Similar Amnts CY | 0 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members CY | 0 | BenefitsPaidToMembersCY |
| Salaries Etc Current Year | 0 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp CY | 0 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 0 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 83993088 | OtherExpensePriorYear |
| Other Expenses Current Year | 76925940 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 83993088 | TotalExpensesPriorYear |
| Total Expenses Current Year | 76925940 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | -2702557 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | 84405102 | RevenuesLessExpensesCY |
| Total Assets BOY | 1696902070 | TotalAssetsBOY |
| Total Assets EOY | 1487986493 | TotalAssetsEOY |
| Total Liabilities BOY | 1676152077 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 1381664059 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 20749993 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 106322434 | NetAssetsOrFundBalancesEOY |
| Mission Description | FINANCIAL ASSISTANCE TO ELIGIBLE BORROWERS | MissionDescription |
| Significant New Program Services | 0 | SignificantNewProgramServices |
| Significant Change | 0 | SignificantChange |
| Expense | 76375741 | Expense |
| Revenue | 68674460 | Revenue |
| Description | THE CORPORATION WAS ORGANIZED FOR THE CHARITABLE AND EDUCATIONAL PURPOSE OF PROVIDING LOW-COST FINANCIAL ASSISTANCE PRIMARILY TO ELIGIBLE STUDENTS ATTENDING COLLEGE IN NH OR RESIDENTS ATTENDING COLLEGE OUT OF STATE. | Description |
| Total Program Service Expense | 76375741 | TotalProgramServiceExpense |
| Described In501 C3 | 1 | DescribedIn501C3 |
| Schedule B Required | 0 | ScheduleBRequired |
| Political Activities | 0 | PoliticalActivities |
| Lobbying Activities | 0 | LobbyingActivities |
| Donor Advised Funds | 0 | DonorAdvisedFunds |
| Conservation Easements | 0 | ConservationEasements |
| Collections Of Art | 0 | CollectionsOfArt |
| Credit Counseling | 0 | CreditCounseling |
| Term Or Permanent Endowments | 0 | TermOrPermanentEndowments |
| Balance Sheet Amounts Reported | 1 | BalanceSheetAmountsReported |
| Independent Audit Financial Stmt | 0 | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | 1 | ConsolidatedAuditFinancialStmt |
| School | 0 | School |
| Foreign Office | 0 | ForeignOffice |
| Foreign Activities | 0 | ForeignActivities |
| More Than5000 K To Organizations | 0 | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividuals |
| Professional Fundraising | 0 | ProfessionalFundraising |
| Fundraising Activities | 0 | FundraisingActivities |
| Gaming | 0 | Gaming |
| Hospital | 0 | Hospital |
| Grants To Organizations | 0 | GrantsToOrganizations |
| Grants To Individuals | 0 | GrantsToIndividuals |
| Schedule J Required | 1 | ScheduleJRequired |
| Tax Exempt Bonds | 1 | TaxExemptBonds |
| Invest Tax Exempt Bonds | 0 | InvestTaxExemptBonds |
| Escrow Account | 0 | EscrowAccount |
| On Behalf Of Issuer | 0 | OnBehalfOfIssuer |
| Excess Benefit Transaction | 0 | ExcessBenefitTransaction |
| Prior Excess Benefit Transaction | 0 | PriorExcessBenefitTransaction |
| Loan To Officer Or DQP | 0 | LoanToOfficerOrDQP |
| Grant To Related Person | 0 | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | 0 | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | 0 | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | 0 | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | 0 | DeductibleNonCashContributions |
| Deductible Contributions Of Art | 0 | DeductibleContributionsOfArt |
| Terminated | 0 | Terminated |
| Partial Liquidation | 0 | PartialLiquidation |
| Disregarded Entity | 0 | DisregardedEntity |
| Related Entity | 1 | RelatedEntity |
| Related Org Controlled Entity | 0 | RelatedOrgControlledEntity |
| Transfers To Exempt Non Chrtbl Org | 0 | TransfersToExemptNonChrtblOrg |
| Activities Conducted Partnership | 0 | ActivitiesConductedPartnership |
| Schedule O Required | 1 | ScheduleORequired |
| Number Forms Transmitted With1096 | 1 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Compliance With Backup Witholding | 1 | ComplianceWithBackupWitholding |
| Number Of Employees | 0 | NumberOfEmployees |
| Unrelated Business Income | 0 | UnrelatedBusinessIncome |
| Foreign Financial Account | 0 | ForeignFinancialAccount |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTrans |
| Taxable Party Notification | 0 | TaxablePartyNotification |
| Non Deductible Contributions | 0 | NonDeductibleContributions |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributions |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOf |
| Nbr Voting Governing Body Members | 5 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 5 | NumberIndependentVotingMembers |
| Family Or Business Relationship | 1 | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | 1 | DelegationOfManagementDuties |
| Changes To Organizing Docs | 0 | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuse |
| Members Or Stockholders | 0 | MembersOrStockholders |
| Election Of Board Members | 0 | ElectionOfBoardMembers |
| Decisions Subject To Approval | 0 | DecisionsSubjectToApproval |
| Minutes Of Governing Body | 1 | MinutesOfGoverningBody |
| Minutes Of Committees | 1 | MinutesOfCommittees |
| Officer Mailing Address | 0 | OfficerMailingAddress |
| Local Chapters | 0 | LocalChapters |
| Form990 Provided To Governing Body | 1 | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | 1 | ConflictOfInterestPolicy |
| Annual Disclosure Covered Persons | 1 | AnnualDisclosureCoveredPersons |
| Regular Monitoring Enforcement | 1 | RegularMonitoringEnforcement |
| Whistleblower Policy | 1 | WhistleblowerPolicy |
| Document Retention Policy | 1 | DocumentRetentionPolicy |
| Compensation Process CEO | 0 | CompensationProcessCEO |
| Compensation Process Other | 0 | CompensationProcessOther |
| Investment In Joint Venture | 0 | InvestmentInJointVenture |
| States Where Copy Of Return Is Filed | NH | StatesWhereCopyOfReturnIsFiled |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
Name Business NameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | DEAN GRONDIN | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Telephone Number | 6032255867 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 4 BARRELL COURT | AddressLine1 |
| City | CONCORD | City |
| State | NH | State |
| ZIP Code | 033022111 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| No Listed Persons Compensated | X | NoListedPersonsCompensated |
Form990 Part VII Section A Form990PartVIISectionA (9 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Individual Trustee Or DirectorIndividualTrusteeOrDirector | OfficerOfficer | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation |
|---|---|---|---|---|---|---|
| DANIEL DUBREUIL | ||||||
| CHAIRMAN | 0.20 | X | X | 0 | 0 | 0 |
| NEIL CASTALDO | ||||||
| SECRETARY | 0.20 | X | X | 0 | 0 | 0 |
| MICHELLE CHICOINE | ||||||
| TRUSTEE | 0.20 | X | 0 | 0 | 0 | |
| HARVEY HILL | ||||||
| TRUSTEE | 0.20 | X | 0 | 0 | 0 | |
| LINDA NORMANDIN | ||||||
| VICE CHAIR/TREASURER | 0.20 | X | X | 0 | 0 | 0 |
| CLINTON HANSON JR | ||||||
| TRUSTEE | 0.20 | X | 0 | 0 | 0 | |
| SUSAN HOWARD | ||||||
| TRUSTEE | 0.20 | X | 0 | 0 | 0 | |
| RENE DROUIN | ||||||
| PRESIDENT/CEO | 0.20 | X | 0 | 441363 | 49656 | |
| DEAN GRONDIN | ||||||
| CFO | 0.20 | X | 0 | 180234 | 28575 | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 0 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 621597 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 78231 | TotalOtherCompensation |
| Number Individuals GT100 K | 0 | NumberIndividualsGT100K |
| Formers Listed | 0 | FormersListed |
| Total Comp GT150 K | 1 | TotalCompGT150K |
| Compensation From Other Sources | 0 | CompensationFromOtherSources |
Contractor Compensation ContractorCompensation (5 entries)
| Address Line1AddressOfContractor/AddressUS/AddressLine1 | CityAddressOfContractor/AddressUS/City | StateAddressOfContractor/AddressUS/State | ZIP CodeAddressOfContractor/AddressUS/ZIPCode | Description Of ServicesDescriptionOfServices | CompensationCompensation |
|---|---|---|---|---|---|
| gRANITE STATE MANAGEMENT AND RESOURCES | |||||
| 4 BARRELL COURT PO BOX 2087 | CONCORD | NH | 03301 | LOAN ADMINISTRATION | 15455154 |
| KUTAK ROCK LLP | |||||
| PO BOX 30057 | OMAHA | NE | 681031157 | LEGAL & TAX SERVICES | 135021 |
| STANDARD & POORS | |||||
| 2542 COLLECTION CENTER DR | CHICAGO | IL | 60693 | RATING SERVICES | 125000 |
| bAKER NEWMAN NOYES | |||||
| PO BOX 507 | PORTLAND | ME | 04112 | aUDITING/TAX | 117335 |
| ELM RESOURCES | |||||
| 121 SOUTH 13TH ST | LINCOLN | NE | 68508 | LOAN SERVICES | 110615 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of Contractors GT100 K | 6 | NumberOfContractorsGT100K |
Program Service Revenue ProgramServiceRevenue (4 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome |
|---|---|---|---|
| INTEREST STUDENT LOANS | 525990 | 56505616 | 56505616 |
| GOVERNMENT CONTRACTS | 900099 | 10068599 | 10068599 |
| GUARANTEE FEES | 525990 | 1136827 | 1136827 |
| LATE CHARGES & OTHER | 900099 | 963418 | 963418 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 68674460 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 731466 | TotalRevenueColumn |
| Exclusion | $731,466 | ExclusionAmount |
Gross Amount Sales Assets GrossAmountSalesAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 11204949 | Securities |
Less Cost Oth Basis Sales Expenses LessCostOthBasisSalesExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 11114168 | Securities |
Gain Or Loss GainOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 90781 | Securities |
Net Gain Or Loss Investments NetGainOrLossInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 90781 | TotalRevenueColumn |
| Exclusion | $90,781 | ExclusionAmount |
Other Revenue Misc OtherRevenueMisc (3 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | ExclusionExclusionAmount |
|---|---|---|---|
| DEBT EXTINGUISHMENT | 900099 | 68817235 | $68,817,235 |
| SETTLEMENT INCOME | 900099 | 20000000 | $20,000,000 |
| LOAN SALE INCOME | 900099 | 3017100 | $3,017,100 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Revenue | 91834335 | TotalOtherRevenue |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 161331042 | TotalRevenueColumn |
| Related Or Exempt Function Income | 68674460 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 0 | UnrelatedBusinessRevenue |
| Exclusion | $92,656,582 | ExclusionAmount |
Fees For Services Legal FeesForServicesLegal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 214772 | Total |
| Management And General | 214772 | ManagementAndGeneral |
Fees For Services Accounting FeesForServicesAccounting
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 122515 | Total |
| Management And General | 122515 | ManagementAndGeneral |
Fees For Services Invst Mgmnt Fees FeesForServicesInvstMgmntFees
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 106714 | Total |
| Management And General | 106714 | ManagementAndGeneral |
Fees For Services Other FeesForServicesOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 15622187 | Total |
| Program Services | 15519683 | ProgramServices |
| Management And General | 102504 | ManagementAndGeneral |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 33694 | Total |
| Program Services | 30000 | ProgramServices |
| Management And General | 3694 | ManagementAndGeneral |
Travel Travel
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 7055 | Total |
| Program Services | 7055 | ProgramServices |
Interest Interest
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 14946706 | Total |
| Program Services | 14946706 | ProgramServices |
Other Expenses OtherExpenses (5 entries)
| DescriptionDescription | TotalTotal | Program ServicesProgramServices |
|---|---|---|
| STUDENT LOAN ALLOWANCES | 23607641 | 23607641 |
| PROVISION FOR EST. LOSS | 13354550 | 13354550 |
| CONSOLIDATION LOAN FEES | 5755369 | 5755369 |
| BOND ADMINISTRATION EXP | 1977747 | 1977747 |
| AMORT. DEBT ISSUANCE CO | 340828 | 340828 |
All Other Expenses AllOtherExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 836162 | Total |
| Program Services | 836162 | ProgramServices |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 76925940 | Total |
| Program Services | 76375741 | ProgramServices |
| Management And General | 550199 | ManagementAndGeneral |
| Fundraising | 0 | Fundraising |
Savings And Temp Cash Investments SavingsAndTempCashInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 13377772 | BOY |
| EOY | 50876341 | EOY |
Accounts Receivable AccountsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 5254615 | BOY |
| EOY | 6380507 | EOY |
Other Notes Loans Receivable Net OtherNotesLoansReceivableNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1620542073 | BOY |
| EOY | 1378122063 | EOY |
Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 7838504 | BOY |
| EOY | 5055523 | EOY |
Investments Pub Traded Securities InvestmentsPubTradedSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 21332377 | BOY |
| EOY | 23716354 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 28556729 | BOY |
| EOY | 23835705 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1696902070 | BOY |
| EOY | 1487986493 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 873121 | BOY |
| EOY | 440440 | EOY |
Deferred Revenue DeferredRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 3665447 | BOY |
| EOY | 2528618 | EOY |
Tax Exempt Bond Liabilities TaxExemptBondLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 710000000 | BOY |
| EOY | 409850000 | EOY |
Mort Notes Pybl Secured Invest Prop MortNotesPyblSecuredInvestProp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 947597410 | BOY |
| EOY | 952808083 | EOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 14016099 | BOY |
| EOY | 16036918 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1676152077 | BOY |
| EOY | 1381664059 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Follow SFAS117 | X | FollowSFAS117 |
Unrestricted Net Assets UnrestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 20749993 | BOY |
| EOY | 106322434 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 20749993 | BOY |
| EOY | 106322434 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1696902070 | BOY |
| EOY | 1487986493 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | 0 | AccountantCompileOrReview |
| FS Audited | 1 | FSAudited |
| Audit Committee | 1 | AuditCommittee |
| Financial Statement Consolidated | X | FinancialStatementConsolidated |
| Federal Grant Audit Required | 1 | FederalGrantAuditRequired |
| Federal Grant Audit Performed | 1 | FederalGrantAuditPerformed |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Supporting Organization509a3 | X | SupportingOrganization509a3 |
| Supporting Org509a3 Type2 | X | SupportingOrg509a3Type2 |
| Certification Checkbox | X | CertificationCheckbox |
| Contrib By Controlling Individual | 0 | ContribByControllingIndividual |
| Contribution By Related Party | 0 | ContributionByRelatedParty |
| Contrib By35 Controlled Entity | 0 | ContribBy35ControlledEntity |
Supported Org Information SupportedOrgInformation (2 entries)
| EINEIN | Type Of OrganizationTypeOfOrganization | Listed In Governing DocListedInGoverningDoc | Supported Organization NotifiedSupportedOrganizationNotified | Organized In USOrganizedInUS | AmountAmount |
|---|---|---|---|---|---|
| GSMR | |||||
| 020404239 | 9 | 0 | 0 | 1 | $15,548,241 |
| NHHEAF | |||||
| 026007687 | 9 | 0 | 0 | 1 | $34,550 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Number Of Supported Orgs | 2 | TotalNumberOfSupportedOrgs |
| Sum Of Amounts | 15582791 | SumOfAmounts |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 0 | TotalOfBookValueLandBuildings |
Other Liabilities OtherLiabilities (4 entries)
| DescriptionDescription | AmountAmount |
|---|---|
| ACCRUED INTEREST PAYABLE | $1,209,843 |
| FEES PAYABLE TO U.S. GOVERNMENT | $12,387,649 |
| DUE TO GSMR | $1,505,174 |
| ARBITRAGE EARNINGS PAYABLE | $934,252 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Amounts | 16036918 | TotalOfAmounts |
| Total Revenue | 161331042 | TotalRevenue |
| Total Expenses | 76925940 | TotalExpenses |
| Excess Or Deficit For Year | 84405102 | ExcessOrDeficitForYear |
| Net Unrealized GL On Investments | 1167339 | NetUnrealizedGLOnInvestments |
| Total Adjustments | 1167339 | TotalAdjustments |
| Excess Or Deficit Per FS | 85572441 | ExcessOrDeficitPerFS |
| Tot Revenue Etc Audited Fincl Stmt | 138890740 | TotRevenueEtcAuditedFinclStmt |
| Net Unrealized Gains Investments | 1167339 | NetUnrealizedGainsInvestments |
| Revenue Not Rptd F990 | 1167339 | RevenueNotRptdF990 |
| Revenue Subtotal | 137723401 | RevenueSubtotal |
| Other Revenues Not Included | 23607641 | OtherRevenuesNotIncluded |
| Revenue Not Rptd On Fin Stmt | 23607641 | RevenueNotRptdOnFinStmt |
| Total Revenue Per Form990 | 161331042 | TotalRevenuePerForm990 |
| Tot Expenses Etc Audited Fincl Stmt | 53318299 | TotExpensesEtcAuditedFinclStmt |
| Expenses Not Rptd F990 | 0 | ExpensesNotRptdF990 |
| Expenses Subtotal | 53318299 | ExpensesSubtotal |
| Other Expenses Not Included | 23607641 | OtherExpensesNotIncluded |
| Expenses Not Rptd On Fin Stmt | 23607641 | ExpensesNotRptdOnFinStmt |
| Total Expenses Per Form990 | 76925940 | TotalExpensesPerForm990 |
Form990 Schedule D Part XIV Form990ScheduleDPartXIV (2 entries)
| IdentifierIdentifier | ExplanationExplanation |
|---|---|
| Part XII, Line 4b - Other Adjustments: | STUDENT LOAN ALLOWANCES 23,607,641 |
| Part XIII, Line 4b - Other Adjustments: | STUDENT LOAN ALLOWANCES 23,607,641 |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Compensation Committee | X | CompensationCommittee |
| Independent Consultant | X | IndependentConsultant |
| Form990 Of Other Organizations | X | Form990OfOtherOrganizations |
| Compensation Survey | X | CompensationSurvey |
| Board Or Committee Approval | X | BoardOrCommitteeApproval |
| Severance Payment | 0 | SeverancePayment |
| Supplemental Nonqual Retire Plan | 0 | SupplementalNonqualRetirePlan |
| Equity Based Comp Arrangement | 0 | EquityBasedCompArrangement |
| Comp Based On Revenue Of Filing Org | 0 | CompBasedOnRevenueOfFilingOrg |
| Comp Based On Revenue Related Orgs | 0 | CompBasedOnRevenueRelatedOrgs |
| Comp Based Net Earnings Filing Org | 0 | CompBasedNetEarningsFilingOrg |
| Comp Based Net Earnings Relate Orgs | 0 | CompBasedNetEarningsRelateOrgs |
| Any Non Fixed Payments | 0 | AnyNonFixedPayments |
| Initial Contract Exception | 0 | InitialContractException |
Form990 Schedule J Part II Form990ScheduleJPartII (2 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| RENE DROUIN | |||||||||||||
| 0 | 347081 | 0 | 52100 | 0 | 42182 | 0 | 33428 | 0 | 16228 | 0 | 491019 | 0 | 0 |
| DEAN GRONDIN | |||||||||||||
| 0 | 155338 | 0 | 10000 | 0 | 14896 | 0 | 21345 | 0 | 7230 | 0 | 208809 | 0 | 0 |
Schedule K IRS990ScheduleK
Form990 Schedule K Part I Form990ScheduleKPartI (5 entries)
| Issuer EINIssuerEIN | CUSIP NumberCUSIPNumber | Date IssuedDateIssued | Issue PriceIssuePrice | Description Of PurposeDescriptionOfPurpose | DefeasedDefeased | On Behalf Of IssuerOnBehalfOfIssuer |
|---|---|---|---|---|---|---|
| NHHEFA | ||||||
| 020279866 | 644614FQ7 | 2003-04-24 | 75000000 | STUDENT LOANS | 0 | 0 |
| NHHEFA | ||||||
| 020279866 | 644614HG7 | 2004-04-22 | 100000000 | STUDENT LOANS | 0 | 0 |
| NHHEFA | ||||||
| 020279866 | 64461RFH6 | 2005-04-21 | 150000000 | STUDENT LOANS | 0 | 0 |
| NHHEFA | ||||||
| 020279866 | 644614PC7 | 2006-04-20 | 75000000 | STUDENT LOANS | 0 | 0 |
| NHHEFA | ||||||
| 020279866 | 644614SJ9 | 2007-04-19 | 100000000 | STUDENT LOANS | 0 | 0 |
Form990 Schedule K Part II Form990ScheduleKPartII (5 entries)
| Total ProceedsTotalProceeds | Amount In Reserve FundAmountInReserveFund | Issuance Costs From ProceedsIssuanceCostsFromProceeds | Capital ExpendituresCapitalExpenditures | Year Of Subst CompletionYearOfSubstCompletion | Current RefundingCurrentRefunding | Advance RefundingAdvanceRefunding | Final Allocation MadeFinalAllocationMade | Adequate Books And Recds MaintaindAdequateBooksAndRecdsMaintaind |
|---|---|---|---|---|---|---|---|---|
| 75000000 | 1500000 | 606126 | 72893874 | 2003 | 0 | 0 | 0 | 1 |
| 100000000 | 2000000 | 580691 | 97419309 | 2004 | 0 | 0 | 0 | 1 |
| 150000000 | 3000000 | 948406 | 146051594 | 2005 | 0 | 0 | 0 | 1 |
| 75000000 | 562500 | 507039 | 73930461 | 2006 | 0 | 0 | 0 | 1 |
| 100000000 | 750000 | 610692 | 98639308 | 2007 | 0 | 0 | 0 | 1 |
Form990 Schedule K Part III Form990ScheduleKPartIII (5 entries)
| Owning Bond Financed PropertyOwningBondFinancedProperty | Any Lease ArrangementsAnyLeaseArrangements | Mngment Cntrct Bond Financd PrprtyMngmentCntrctBondFinancdPrprty | Any Research AgreementsAnyResearchAgreements | Bond Counsel Routinely EngagedBondCounselRoutinelyEngaged | Prcntge Prvt Business Use By OthersPrcntgePrvtBusinessUseByOthers | Percentage Of Prvt Business Re UBIPercentageOfPrvtBusinessReUBI | Total Private Business UseTotalPrivateBusinessUse | Post Issuance Compliance ProcdrsPostIssuanceComplianceProcdrs |
|---|---|---|---|---|---|---|---|---|
| 0 | 0 | 0 | 0 | 0 | 0.00000 | 0.00000 | 0.00000 | 1 |
| 0 | 0 | 0 | 0 | 0 | 0.00000 | 0.00000 | 0.00000 | 1 |
| 0 | 0 | 0 | 0 | 0 | 0.00000 | 0.00000 | 0.00000 | 1 |
| 0 | 0 | 0 | 0 | 0 | 0.00000 | 0.00000 | 0.00000 | 1 |
| 0 | 0 | 0 | 0 | 0 | 0.00000 | 0.00000 | 0.00000 | 1 |
Form990 Schedule K Part IV Form990ScheduleKPartIV (5 entries)
| Form8038 T FiledForm8038TFiled | Variable Rate IssueVariableRateIssue | Hedge Identified In Books And RecdsHedgeIdentifiedInBooksAndRecds | Gross Proceeds Invested In GICGrossProceedsInvestedInGIC | Gross Proceeds InvestedGrossProceedsInvested | Exception To RebateExceptionToRebate |
|---|---|---|---|---|---|
| 1 | 1 | 0 | 0 | 0 | 0 |
| 1 | 1 | 0 | 0 | 0 | 0 |
| 0 | 1 | 0 | 0 | 0 | 0 |
| 0 | 1 | 0 | 0 | 0 | 0 |
| 0 | 1 | 0 | 0 | 0 | 0 |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (7 entries)
| IdentifierIdentifier | ExplanationExplanation |
|---|---|
| Form 990, Part VI, Section A, line 2 | MR. CASTALDO AND MR. HILL, WHO SERVE ON THE BOARD OF DIRECTORS, HAVE A BUSINESS RELATIONSHIP. |
| Form 990, Part VI, Section A, line 3 | THE ORGANIZATION CONTRACTS WITH GRANITE STATE MANAGEMENT & RESOURCES, A RELATED ENTITY, FOR ITS MANAGEMENT SERVICES. |
| Form 990, Part VI, Section B, line 11 | A COPY OF THE FORM 990 WAS EMAILED TO THE BOARD BEFORE FILING. |
| Form 990, Part VI, Section B, line 12c | ANY CONFLICTS OF INTEREST REVEALED IN THE ANNUAL SURVEY ARE ADDRESSED PROMPTLY. |
| Form 990, Part VI, Section C, line 19 | THE ORGANIZATION WILL PROVIDE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. |
| FORM 990, PART VII, LINE 1B: | RENE DROUIN: 40 AVERAGE HOURS PER WEEK FOR A RELATED ORGANIZATION DEAN GRONDIN: 40 AVERAGE HOURS PER WEEK FOR A RELATED ORGANIZATION |
| FORM 990, PART XI, LINE 2C: | THE ORGANIZATION HAS AN AUDIT COMMITTEE OF THE BOARD THAT IS REPSONSIBLE FOR THE OVERSIGHT OF THE AUDIT AND SELECTION OF THE INDEPENDENT ACCOUNTANTS. |
Schedule R IRS990ScheduleR
Form990 Schedule R Part II Form990ScheduleRPartII (3 entries)
| Address Line1AddressUS/AddressLine1 | CityAddressUS/City | StateAddressUS/State | ZIP CodeAddressUS/ZIPCode | EINEIN | Primary ActivitiesPrimaryActivities | Legal Domicile StateLegalDomicileState | Exempt Code SectionExemptCodeSection | Public Charity StatusPublicCharityStatus | Direct Controlling Entity NADirectControllingEntityNA |
|---|---|---|---|---|---|---|---|---|---|
| GRANITE STATE MANAGEMENT & RESOURCES | |||||||||
| 4 BARRELL COURT | CONCORD | NH | 033022087 | 020404239 | ADMINISTRATOR/SERVICER OF STUDENT LOANS | NH | 501(C)(3) | 9 | N/A |
| NEW HAMPSHIRE HIGHER EDUCATION ASSISTANCE FOUNDTION | |||||||||
| 4 BARRELL COURT | CONCORD | NH | 033020877 | 026007687 | STUDENT LOAN GUARANTOR | NH | 501(C)(3) | 9 | N/A |
| NHHEAF NETWORK EDUCATIONAL FOUNDATION | |||||||||
| 4 BARRELL COURT | cONCORD | NH | 033022111 | 300289044 | GRANTS AND SCHOLARSHIPS | NH | 501(C)(3) | PF | N/A |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Ann Rents Royalties | 0 | ReceiptOfIntAnnRentsRoyalties |
| Gift Grant Or Cap Contr To Other Org | 0 | GiftGrantOrCapContrToOtherOrg |
| Gift Grant Or Cap Contr Fr Other Org | 0 | GiftGrantOrCapContrFrOtherOrg |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrg |
| Loans Or Guarantees From Other Org | 0 | LoansOrGuaranteesFromOtherOrg |
| Sale Of Assets To Other Org | 0 | SaleOfAssetsToOtherOrg |
| Purchase Of Assets From Other Org | 0 | PurchaseOfAssetsFromOtherOrg |
| Exchange Of Assets | 0 | ExchangeOfAssets |
| Rental Of Facilities To Other Orgs | 0 | RentalOfFacilitiesToOtherOrgs |
| Rental Of Facilities Fr Other Orgs | 0 | RentalOfFacilitiesFrOtherOrgs |
| Perform Of Services For Other Orgs | 0 | PerformOfServicesForOtherOrgs |
| Perform Of Services By Other Orgs | 1 | PerformOfServicesByOtherOrgs |
| Sharing Of Facilities | 0 | SharingOfFacilities |
| Sharing Of Paid Employees | 0 | SharingOfPaidEmployees |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrg |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrg |
| Other Transfer To Other Org | 0 | OtherTransferToOtherOrg |
| Other Transfer From Other Org | 0 | OtherTransferFromOtherOrg |
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