2011-10-14T14:31:32-04:00 2010-12-31 ERNST & YOUNG US LLP 111 MONUMENT CIRCLE SUITE 2600 INDIANAPOLIS IN 46204 990 2010-01-01 411689095 NORTHSTAR GUARANTEE INC NORT 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 3312694 false X www.mygreatlakes.org X 1990 MN NORTHSTAR GUARANTEE's EXEMPT LENDING ROLE IS IN MAKING AND/OR HOLDING OF STUDENT LOANS TO POSTSECONDARY EDUCATION STUDENTS AND TO THEIR PARENTS IN ACCORDANCE WITH THE FEDERAL FAMILY EDUCATION LOAN PROGRAM. 6 5 0 0 0 0 0 0 1211198 3294048 3034 18646 0 0 1214232 3312694 0 0 0 0 24083 25833 0 0 0 1319727 1324835 1343810 1350668 -129578 1962026 95711036 121052068 96142708 119521714 -431672 1530354 Northstar Guarantee Inc.'s mission is to foster, aid, encourage and ASSIST THE PURSUIT OF HIGHER EDUCATION. IN PARTICULAR, THE CORPORATION FACILITATES THE BROADER AVAILABILITY OF EDUCATIONAL LOANS TO STUDENTS BY, BUT NOT LIMITED TO, ACTING AS A LENDER OR AN ELIGIBLE LENDER (AS PROVIDED UNDER THE HIGHER EDUCATION ACT) FOR SUCH LOANS. THIS MISSION STATEMENT HAS BEEN REVIEWED, ACKNOWLEDGED AND INFORMALLY APPROVED BY THE BOARD. false false 1284837 3294048 Making and/or holding of student loans to postsecondary education students and to their parents in accordance with the Federal Family Education Loan Program established by Title IV, Part B of the Federal Higher Education Act of 1965, as amended. 1284837 true false false false false false false false false false false false true true false false true false false false false false false false false false false false true false false false false false false false true false false false false false true true true false false true 6 0 true 0 false false false false false false false false false false X 6 5 false false false false true true true true true false false false true true true true true false false false MN X NANCY SEIFERT 6082461410 2401 INTERNATIONAL LANE Madison WI 53704 X David J Hanson 14 3.0 X 0 0 0 Janice Hesalroad 1 3.0 X 5667 0 0 Linda Hoeschler 1 3.0 X 7000 0 0 Alex J Pollock 1 3.0 X 8500 0 0 Richard A Weiss 1 3.0 X 4667 0 0 Richard D George 23 1.0 X X 0 547689 64313 Nancy Seifert 3 1.0 X 0 316929 50779 25834 864618 115092 0 false true false none 0 0 Loan Interest Income 900099 3294048 3294048 3294048 18646 18646 0 0 0 0 0 0 0 3312694 3294048 0 18646 0 0 0 0 25833 25833 0 0 0 0 0 0 3667 3667 15310 15310 0 0 0 0 0 21929 21929 0 0 0 2252 231 2021 0 0 0 0 0 0 CORP SUPP FUNCT ALLOCATION 19000 19000 PROVISION-LENDER LOAN LOSS 163371 163371 CONSOLIDATED LOAN FEE 781604 781604 Servicing Fees 317528 317528 Filing and License Fees 174 174 1350668 1284837 65831 0 924 641 1258000 34620000 94452112 86431427 95711036 121052068 7450 12835 96135258 119508879 96142708 119521714 X -431672 1530354 -431672 1530354 95711036 121052068 1962026 X false true true X false X 0 0 4645 1211198 3294048 4509891 0 0 4645 1211198 3294048 4509891 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 4509891 0 0 0 3034 18646 21680 0 0 0 3034 18646 21680 0 0 4645 1214232 3312694 4531571 0.99522 0.99751 0.00478 0.00249 X STUDENT LOANS RECEIVABLE 83735141 INTEREST RECEIVABLE 1167789 DUE FROM SERVICER 1528497 86431427 0 INTERCOMPANY PAYABLE 289839 LENDER FUNDING CONTRIBUTION TRNSFR 118419274 RESERVES - LENDER LOAN LOSS 488887 CONSOLIDATED LOAN FEE PAYABLE 52137 INTEREST PAYABLE 238232 SERVICING FEES PAYABLE 20510 119508879 SUPPLEMENTAL INFORMATION Schedule D, Part X Other liabilities-$118,419,274 Lender Funding Contribution Transfer Northstar Guarantee Inc.'s exempt lending role was utilized beginning in December 2008 through the making and/or holding of student loans to postsecondary education students and to their parents in accordance with Federal Family Education Loan Program established by Title IV, Part B of the Federal Higher Education Act of 1965, as amended. the $118,419,274 represents the 2008-2010 Lender Funding Contribution Transfer from Great Lakes Higher Education Corporation (Related Entity). false true false false false false false false false Richard D George 23 0 268231 0 275572 0 3886 0 45066 0 19247 0 612002 0 0 Nancy Seifert 3 0 154999 0 160599 0 1331 0 31840 0 18939 0 367708 0 0 Supplemental Compensation Information The following individuals participated in a supplemental nonqualified retirement plan: Richard George and Nancy Seifert. There were no new payments into and no payments out of the plan. The supplemental nonqualified plan (optionit plan) was in effect for four years (1998-2001) and was offered by the employer to management and staff for retention purposes. GREAT LAKES EDUCATIONAL LOAN SVCS Contrl Ent/officer ovrlap 317528 SERVICING FEES PAID TO GLELSI false GREAT LAKES EDUCATIONAL LOAN SVCS Contrl Ent/officer ovrlap 6909 INTERCOMPANY REIMB. TO GLELSI false Supplemental information Part VI, Questions 6 and 7a Members or Stockholders: Great Lakes Higher Education Corporation, a nonprofit 501(c)(3)corporation, is the sole member of Northstar Guarantee Inc. and has the authority to appoint the Northstar Guarantee Inc. board. Part VI, 7b Decisions of Governing Body Subject to approval: Great Lakes Higher Education Corporation, a nonprofit 501(c)(3) corporation, as sole member of Northstar Guarantee Inc., has the authority provided by Wis. Stats. Chapter 181 to approve certain actions related to merger, conversion, sale of assets and dissolution. 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. 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. 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 GLHEGC = Great Lakes Higher Education Guaranty Corporation *Richard George - 60 hours with GLHEC and 1 hour with GLHEGC *Nancy Seifert - 55 hours with GLHEC and 1 hour with GLHEGC 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 3 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. Great Lakes Higher Education Corporation 2401 International Lane Madison WI 53704 391090394 stdnt ln svcs WI 501(c)(3) 11B Type 2 NA Great Lakes Higher Educ Guaranty Corp 2401 International Lane Madison WI 53704 391853833 gty stdnt lns WI 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 Studnt Loan Svcs WI NA C corp false false false false false false false false false false false true false false true false true true Great Lakes Educational Loan Services Inc l 317528