2011-02-09T13:39:20-06:00 2010-09-30 BAKER NEWMAN & NOYES PO BOX 507 PORTLAND ME 04112 990 2009-10-01 020404239 GRANITE STATE MANAGEMENT AND RESOURCES GRAN 6032255867 4 BARRELL COURT PO BOX 2087 CONCORD NH 033022087 RENE A DROUIN 6032255867 2011-02-07 2078792100 2009 2016-02-24 21:20:13Z RENE A DROUIN 4 BARRELL COURT PO BOX 2087 CONCORD NH 033022087 36149978 0 X www.gsmr.org X 1986 NH ADMINISTRATOR/SERVICER OF STUDENT LOANS 8 8 235 8 0 0 10000 15500 23452203 21617435 56186 1381539 370528 377617 23888917 23392091 20000 30000 0 14659650 13593690 0 0 7675880 7894280 22355530 21517970 1533387 1874121 43173300 45670412 5978815 5850847 37194485 39819565 ADMINISTRATOR/SERVICER OF STUDENT LOANS 0 0 3507897 30000 2915400 ADMINISTER THE GUARANTEED STUDENT LOAN PROGRAM IN THE STATE OF NH IN COOPERATION WITH NH LENDERS AND SECONDARY MARKETS 13839892 17455440 SERVICE EDUCATION LOAN PROGRAMS 783594 1031300 ADMINISTER THE LOAN ORIGINATION PROGRAM FOR NH HIGHER EDUCATION LOAN CORPORATION 18131383 1 1 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 1 118533 0 1 235 1 0 0 0 0 0 0 0 0 0 0 8 8 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NH X DEAN GRONDIN 6032255867 4 BARRELL COURT CONCORD NH 03301 CORNELIUS JOYCE 0.20 X X 0 0 0 GERALD LITTLE 0.20 X X 0 0 0 THOMAS HORGAN 0.20 X X 0 0 0 ANTHONY CHISMARK 0.20 X X 0 0 0 BRAD POZNANSKI 0.20 X 0 0 0 CHARLES ROLOCEK 0.20 X 0 0 0 ROBERT TUVESON 0.20 X 0 0 0 CLINT HANSON 0.20 X 0 0 0 RENE DROUIN 40.00 X 441363 0 49656 DEAN GRONDIN 40.00 X 180234 0 28575 JASON GOLDEN 40.00 X 144131 0 35244 CHRISTINE B WILLIAMS 40.00 X 120397 0 22321 DIANNE PETERSON 40.00 X 139641 0 27309 KRIS BELLEROSE 40.00 X 115180 0 16719 MICHAEL BOURGAULT 40.00 X 110715 0 30717 TARA E PAYNE 40.00 X 102760 0 32109 1354421 0 242650 12 0 1 0 5280 SOLUTIONS INC 8740 LUCENT BLVD HIGHLANDS RANCH CO 80129 SOFTWARE MAINTENANCE 282350 BAKER NEWMAN & NOYES PO BOX 507 PORTLAND ME 04112 AUDITING/TAX 154801 INTERACTIVE INTELLIGENCE PO BOX 660316 INDIANAPLOIS IN 46266 PHONE MAINTENANCE 130502 3 15500 15500 SERVICE FEES 561000 17658698 17658698 CONTRACTED SERVICES 561000 3946700 3946700 STUDENT LOAN INTEREST 900099 12037 12037 21617435 1081841 1081841 13057585 12735785 22102 321800 -22102 299698 299698 OTHER INCOME 561000 377617 377617 377617 23392091 21995052 0 1381539 30000 30000 919113 919113 9040063 8451716 588347 776236 764134 12102 2038125 1906838 131287 820153 738138 82015 170284 170284 154801 154801 147141 88285 58856 22306 20075 2231 245682 226027 19655 1938373 1744536 193837 1087999 819752 268247 677865 542292 135573 77214 61771 15443 2620657 2096526 524131 159106 111374 47732 LOSS ON SERVICED LOANS 416055 416055 MISCELLANEOUS 176797 113864 62933 21517970 18131383 3386587 0 1000 1000 7680967 8398376 1948886 1158813 24799 247898 246737 18785340 11300356 9664600 7484984 23428008 28179109 177142 201393 43173300 45670412 4976115 4850847 1002700 1000000 5978815 5850847 X 37194485 39819565 37194485 39819565 43173300 45670412 X 0 1 1 X 0 X 10000 15500 25500 21517316 25901005 26028994 23822731 21995052 119265098 21517316 25901005 26028994 23832731 22010552 119290598 0 0 0 119290598 995450 1522473 1311451 1068894 1081841 5980109 995450 1522473 1311451 1068894 1081841 5980109 22512766 27423478 27340445 24901625 23092393 125270707 0.95230 0.95420 0.04770 0.04580 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 687587 687587 8728553 3538430 5190123 9369200 7761926 1607274 7484984 RESERVE FOR LOAN LOSSES 1000000 1000000 23392091 21517970 1874121 750959 750959 2625080 24127550 750959 750959 23376591 15500 15500 23392091 21502470 0 21502470 15500 15500 21517970 Part XII, Line 4b - Other Adjustments: CONTRIBUTIONS Part XIII, Line 4b - Other Adjustments: SCHOLARSHIP PAYMENTS 1 SCHOLARSHIPS 6 30000 Procedure for Monitoring Grants in the U.S.: Part I, Line 2: Schedule I, Part I, Line 2: IN ORDER TO ENSURE THAT THE SCHOLARSHIP RECIPIENT IS USING THE FUNDS FOR DIRECT EDUCATIONAL EXPENSES AT THE TITLE IV INSTITUTIONS, THE FOLLOWING PROCEDURES ARE IN PLACE: 1) VERIFICATION OF ATTENDANCE AT A TITLE IV INSTITUTION 2) VERIFICATION OF ELIGIBILITY FOR FEDERAL FINANCIAL AID THROUGH SUBMISSION OF THE STUDENT AID REPORT 3) CHECKS ARE NOT RELEASED UNTIL WE HAVE RECEIVED CONFIRMATION OF ENROLLMENT FOR THE ACADEMIC PERIOD FOR WHICH THE SCHOLARSHIP WAS AWARDED 4) ONCE THE ENROLLMENT STATUS IS CONFIRMED, A CHECK IS REQUESTED MADE PAYABLE TO THE POSTSECONDARY INSTITUTION AND THE STUDENT. (IN THIS WAY, THE SCHOLARSHIP PROGRAM IS ASSURED THAT THE FUNDS WERE USED FOR DIRECT EDUCATIONAL EXPENSES AND NOT FOR PURPOSES UNINTENDED BY THE PROGRAM.) X X X X X 0 0 0 0 0 0 0 1 0 RENE DROUIN 347081 0 52100 0 42182 0 33428 0 16228 0 491019 0 0 0 DEAN GRONDIN 155338 0 10000 0 14896 0 21345 0 7230 0 208809 0 0 0 JASON GOLDEN 128986 0 7500 0 7645 0 18029 0 17215 0 179375 0 0 0 DIANNE PETERSON 127041 0 5000 0 7600 0 17549 0 9760 0 166950 0 0 0 Part I, Line 7 PERFORMANCE-BASED VARIABLE COMPENSATION, WHICH IS SUBJECT TO REVIEW AND PAID ANNUALLY. ANTHONY CHISMARK TRUSTEE OF GSMR AND SENIOR VICE PRESIDENT WITH CENTRIX BANK MR. CHISMARK IS A TRUSTEE OF GSM&R AND AN EXECUTIVE AT CENTRIX BANK. GSM&R MAINTAINS ITS CHECKING ACCOUNTS WITH CENTRIX BANK. TRANSACTIONS DURING THE FISCAL YEAR WERE IN EXCESS OF $10,000. AN EXACT FIGURE CANNOT BE STATED DUE TO DAILY ACCOUNT ACTIVITY AND BALANCE CHANGES. ALL TRANSACTIONS WITH CENTRIX BANK ARE AT FAIR MARKET VALUE. MR. CHISMARK HAS BEEN CLASSIFIED AS AN INDEPENDENT BOARD MEMBER. 0 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 B, line 15 An internal review of salaries is conducted by Human Resources using salary surveys from national resources to compare salaries for positions in the organization to local market data. The compensation structure is adjusted based on the results of these reviews. In 2010, an independent compensation consultant was hired to review salaries of Executives, Vice Presidents and Assistant Vice Presidents to ensure the compensation structure was administered appropriately. FOR CEO COMPENSATION, THE INDEPENDENT COMPENSATION CONSULTANT CONDUCTS AN INDEPENDENT REVIEW OF CEO SALARIES AS IT RELATES TO ORGANIZATIONS OF GSM&R'S SIZE, STRUCTURE AND COMPOSITION OF ASSETS. THE FIRM THEN INDICATED ITS OPINION OF THE CEO'S COMPENSATION PACKAGE TO THE CHAIRMAN OF THE BOARD OF GSM&R AS WELL AS THE CHAIRMAN OF THE COMPENSATION COMMITTEE. 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 XI, line 2c THE ORGANIZATION HAS AN AUDIT COMMITTEE OF THE BOARD THAT IS RESPONSIBLE FOR THE OVERSIGHT OF THE AUDIT AND SELECTION OF INDEPENDENT ACCOUNTANTS. NEW HAMPSHIRE HIGHER EDUCATION ASSISTANCE FOUNDATION 4 BARRELL COURT CONCORD NH 03302 026007687 STUDENT LOAN GUARANTOR NH 501(C)(3) 9 N/A NEW HAMPSHIRE HIGHER EDUCATION LOAN CORPORATION 4 BARRELL COURT CONCORD NH 03302 020368776 FINANCIAL ASSISTANCE TO ELIGIBLE BORROWERS NH 501(C)(3) 11 TYPE II N/A NHHEAF NETWORK EDUCATION FOUNDATION 4 BARRELL COURT CONCORD NH 03302 300289044 GRANTS AND SCHOLARSHIPS NH 501(C)(3) PF N/A 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0