Civic Intelligence

Granite Edvance Corporation

990 • Fiscal year 2019 • EIN 02-0368776

Oct 01, 2018 to Sep 30, 2019 • Filed on Feb 18, 2020

Organization Profilewww.nhhelco.org

View Organization Page

4 Barrell Court PO Box 2111Concord, NH 03302

(603) 226-5829

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

81st percentile

0.71x

Higher debt load relative to assets than 81% of similar nonprofits.

2019 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2019

Liabilities / Revenue

96th percentile

10.04x

Higher debt load relative to revenue than 96% of similar nonprofits.

2019 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2019

Net Margin

39th percentile

2.2%

Higher net margin than 39% of similar nonprofits.

2019 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2019

Top Officer Pay

45th percentile

$753,956

Higher top officer pay than 45% of similar nonprofits.

Top officer pay equals 1.4% of source-year revenue.

2019 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2019

Asset Growth

75th percentile

12%

Faster asset growth than 75% of similar nonprofits.

2019 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2018 to 2019

Revenue Growth

81st percentile

14%

Faster revenue growth than 81% of similar nonprofits.

2019 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets81st percentile

Assets

Up

$772,977,645

Up $79,786,111 (+12%) from 2018

Net Assets

Up

$223,042,547

Up $1,943,934 (+0.9%) from 2018

Liabilities

Up

$549,935,098

Up $77,842,177 (+16%) from 2018

Revenue And Expenses
Liabilities / Revenue96th percentileNet Margin39th percentile

Revenue

Up

$54,774,294

Up $6,635,275 (+14%) from 2018

Expenses

Up

$53,581,370

Up $9,745,707 (+22%) from 2018

Net Income

Down

$1,192,924

Down $3,110,432 (-72%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth75th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$1.5B$1.0B$500M$0Assets 2010: $1,487,986,493Liabilities 2010: $1,381,664,059Net Assets 2010: $106,322,4342010Assets 2011: $1,160,116,531Liabilities 2011: $967,256,444Net Assets 2011: $192,860,0872011Assets 2012: $1,016,677,936Liabilities 2012: $820,042,726Net Assets 2012: $196,635,2102012Assets 2013: $911,607,505Liabilities 2013: $712,256,270Net Assets 2013: $199,351,2352013Assets 2014: $824,702,305Liabilities 2014: $620,763,837Net Assets 2014: $203,938,4682014Assets 2015: $747,726,832Liabilities 2015: $541,984,466Net Assets 2015: $205,742,3662015Assets 2016: $728,918,980Liabilities 2016: $518,285,381Net Assets 2016: $210,633,5992016Assets 2017: $665,247,990Liabilities 2017: $448,241,776Net Assets 2017: $217,006,2142017Assets 2018: $693,191,534Liabilities 2018: $472,092,921Net Assets 2018: $221,098,6132018Assets 2019: $772,977,645Liabilities 2019: $549,935,098Net Assets 2019: $223,042,5472019Assets 2020: $867,907,952Liabilities 2020: $599,081,263Net Assets 2020: $268,826,6892020Assets 2021: $910,620,336Liabilities 2021: $621,618,405Net Assets 2021: $289,001,9312021Assets 2022: $928,313,847Liabilities 2022: $656,730,060Net Assets 2022: $271,583,7872022Assets 2023: $915,716,327Liabilities 2023: $619,458,501Net Assets 2023: $296,257,8262023Assets 2024: $904,473,074Liabilities 2024: $590,642,566Net Assets 2024: $313,830,5082024Assets 2025: $912,774,268Liabilities 2025: $585,082,056Net Assets 2025: $327,692,2122025

Highlighted filing

2019

Assets$772,977,645
Liabilities$549,935,098
Net Assets$223,042,547
Open 2019 Filing

Operations Trend

Revenue Growth81st percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$80M$60M$40M$20M$0-$20MExpenses 2010: $76,925,9402010Expenses 2011: $58,004,6962011Expenses 2012: $52,051,0912012Revenue 2013: $50,579,793Expenses 2013: $47,179,986Net Income 2013: $3,399,8072013Revenue 2014: $42,889,133Expenses 2014: $39,557,862Net Income 2014: $3,331,2712014Revenue 2015: $40,569,011Expenses 2015: $35,302,496Net Income 2015: $5,266,5152015Revenue 2016: $38,301,361Expenses 2016: $35,859,899Net Income 2016: $2,441,4622016Revenue 2017: $40,637,789Expenses 2017: $37,548,859Net Income 2017: $3,088,9302017Revenue 2018: $48,139,019Expenses 2018: $43,835,663Net Income 2018: $4,303,3562018Revenue 2019: $54,774,294Expenses 2019: $53,581,370Net Income 2019: $1,192,9242019Revenue 2020: $54,814,259Expenses 2020: $56,076,554Net Income 2020: -$1,262,2952020Revenue 2021: $75,110,962Expenses 2021: $62,096,640Net Income 2021: $13,014,3222021Revenue 2022: $60,034,018Expenses 2022: $52,511,711Net Income 2022: $7,522,3072022Revenue 2023: $61,725,667Expenses 2023: $60,413,588Net Income 2023: $1,312,0792023Revenue 2024: $63,939,847Expenses 2024: $60,059,105Net Income 2024: $3,880,7422024Revenue 2025: $61,204,622Expenses 2025: $59,200,848Net Income 2025: $2,003,7742025

Highlighted filing

2019

Revenue$54,774,294
Expenses$53,581,370
Net Income$1,192,924
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2018 to Sep 30, 2019
Signed
Feb 18, 2020
Return Version
2018v3.1
Gross Receipts
$59,900,056
Mission and Program Overview

Mission

To support New Hampshire students and families in navigating their education and career pathways by providing free advisory services, student loans and scholarships for post-secondary education.

Financial assistance to eligible borrowers

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$618,873,579$697,814,641▲ $78,941,062
Investments in Publicly Traded Securities$42,345,548$42,486,248▲ $140,700
Savings and Temporary Cash Investments$17,152,365$20,987,915▲ $3,835,550
Investments Other Securities$8,303,084$8,730,329▲ $427,245
Prepaid Expenses and Deferred Charges$3,211,705--
Accounts Receivable$2,628,134$1,734,658▼ $893,476
Total Assets$693,191,534$772,977,645▲ $79,786,111
Other Assets Total$677,119$1,223,854▲ $546,735
Liabilities
Mortgage Notes Payable Secured by Investment Property$465,773,493$545,681,693▲ $79,908,200
Other Liabilities$4,897,745$3,872,535▼ $1,025,210
Accounts Payable and Accrued Expenses$1,421,683$380,870▼ $1,040,813
Total Liabilities$472,092,921$549,935,098▲ $77,842,177
Net Assets / Fund Balance
Unrestricted Net Assets$221,098,613$223,042,547▲ $1,943,934
Total Net Assets Fund Balance$221,098,613$223,042,547▲ $1,943,934
Total Liabilities and Net Assets / Fund Balance$693,191,534$772,977,645▲ $79,786,111
Compensation and Service Providers
Top Officer Pay45th percentile

Employees

NameTitleFull / Part TimeOtherTotal
Christiana ThorntonPresident & CEOPT$66,923$66,923
Rene A DrouinPresident & CEO (end 10/18)PT$15,000$15,000

Board Members and Trustees

NameTitle
Daniel DubreuilChairman
Linda NormandinVice Chair/Treasurer
Dean GrondinVice President & CFO
Peter BurgerTrustee
Tim SinkTrustee
Chuck LloydTrustee (start 2/19)
Gordon KoffTrustee (start 2/19)
Steve WebbTrustee (start 2/19)
Susan HowardSecretary

Highest Paid Contractors

ContractorServicesLocationCompensation
Granite State Mgmt & ResManagement and Loan Servicing4 Barrell Court PO Box 2087, Concord, NH 03302$6,443,737
Credible Labs IncLoan Processing101 Green Street 2nd Floor, San Francisco, CA 94111$1,441,104
Campus Door Holdings IncLoan Processing1415 Ritner Highway, Carlisle, PA 17013$791,860
DBRS IncRating Agency140 Broadway 43rd Floor, New York, NY 10005$104,773
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$53,630,528
Investment Income
$1,143,766
Other Revenue
$0
Change in Net Assets
$1,192,924

Audited Revenue Reconciliation

Revenue per Audited Statements
$54,825,181
Revenue Not Reported on Financial Statements
$-50,887
Revenue Not Reported on Form 990
$751,010
Other Revenue Adjustments
$-199,474
Total Revenue per Audited Statements
$55,576,191
Total Revenue per Form 990
$54,774,294
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$53,555,778
Salaries, Compensation, and Employee Benefits$25,592
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$23,609,391$414,810-$24,024,201
Interest$21,903,645--$21,903,645
All Other Expenses$1,354,409--$1,354,409
Fees for Services Legal-$242,326-$242,326
Other Expenses$153,297--$153,297
Fees for Service Investment Mgmnt Fees-$148,587-$148,587
Fees for Services Accounting-$50,063-$50,063
Office Expenses$41,001--$41,001
Travel$31,010--$31,010
Fees for Services Lobbying$29,120--$29,120
Current Officers, Directors, Trustees, and Key Employees-$25,592-$25,592
Total Functional Expenses$52,699,992$881,378$0$53,581,370

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$53,632,257
Total Expenses per Audited Statements$53,632,257
Total Expenses per Form 990$53,581,370
Expenses Not Reported on Form 990$0
Expenses Not Reported on Financial Statements$-50,887
Other Expense Adjustments$-199,474
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to related entities$2,279,842
Accrued interest payable$1,303,723
Fees payable to U.S. government$288,970
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

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 11B

“A copy of the Form 990 was emailed to the board before filing. Board members had the opportunity to review the form and ask for questions and clarifications.”

Form 990, Part VI, Section B, line 12C

“Any conflicts of interest revealed in the annual survey or at any time throughout the year are addressed promptly and appropriately.”

Form 990, Part VI, Section B, line 15

“An on-going internal review of salaries is conducted by Human Resources Management of GSMR using salary surveys from local and 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. An independent consultant completed the Affirmative Action Plan, which included a review of salary and hiring practices to ensure nondiscrimination. The Organization's internal review of market data for staff and executive salaries includes executive salaries for organizations of comparable size, structure, operations and asset composition to GSM&R. This review also is evaluated by an independent consultant on a periodic basis. Based on this comparative market data, the Chairman of the Board of GSMR and the Chairman of its Compensation Committee review the proposed CEO and other senior officer compensation packages for reasonableness and fairness.”

Form 990, Part VI, Section C, line 19

“The organization will make its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
New Hampshire Higher Education
EIN
02-0368776
Phone
6032265829
Address
4 Barrell Court PO Box 2111, Concord, NH 03302

Signing Officer

Name
Christiana Thornton
Title
President & CEO
Phone
6032265829
Signed
2020-02-18
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Christiana Thornton
Formed
1983
Legal Domicile
Nh
Voting Board Members
8
Independent Board Members
8
Employees
0
Volunteers
8

Preparer

Firm
Baker Newman & Noyes LLC
Address
PO Box 507, Portland, ME 04112
Preparer
Nicolas E Porto
Phone
2078792100
Supplemental Narrative

Additional Explanations

Form 990, Part IX, line 11G

“Servicing Fees: Program service expenses 23,609,391. Management and general expenses 414,810. Fundraising expenses 0. Total expenses 24,024,201.”

Financial Statement Notes

Part X, Line 2:

“The Company has received a determination letter from the Internal Revenue Service stating that it qualifies for tax-exempt status under Section 501(c)(3) of the Internal Revenue Code. Accordingly, no provision for income taxes has been included in the financial statements. Tax-exempt organizations could be required to record an obligation for income taxes as the result of a tax position they have historically taken on various tax exposure items including unrelated business income or tax status. Under guidance issued by the Financial Accounting Standards Board (FASB), assets and liabilities are established for uncertain tax positions taken or positions expected to be taken in income tax returns when such positions are judged to not meet the "more-likely-than-not" threshold, based upon the technical merits of the position. Estimated interest and penalties, if applicable, related to uncertain tax positions are included as a component of income tax expense. The Company has evaluated the positions taken on its filed tax returns. The Company has concluded no uncertain income tax positions exist at September 30, 2019 or 2018.”

Part XI, Line 4B - Other Adjustments:

“Student loan allowances -199,474.”

Part XII, Line 4B - Other Adjustments:

“Student loan allowances -199,474.”

Raw XML AppendixShowing 400 of 631 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt966923
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10233259
IRS990/Form990PartVIISectionAGrp/TitleTxt0Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt1Trustee (start 2/19)
IRS990/Form990PartVIISectionAGrp/TitleTxt2Trustee (start 2/19)
IRS990/Form990PartVIISectionAGrp/TitleTxt3Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt4Trustee (start 2/19)
IRS990/Form990PartVIISectionAGrp/TitleTxt5Chairman
IRS990/Form990PartVIISectionAGrp/TitleTxt6Vice Chair/Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt7Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt8President & CEO (end 10/18)
IRS990/Form990PartVIISectionAGrp/TitleTxt9President & CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt10Vice President & CFO
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/FormationYr01983
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedBasisGrp/ConsolidatedBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GainOrLossGrp/SecuritiesAmt0-812878
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt08
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossAmountSalesAssetsGrp/SecuritiesAmt04312884
IRS990/GrossReceiptsAmt059900056
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd00
IRS990/IndependentVotingMemberCnt08
IRS990/IndivRcvdGreaterThan100KCnt00
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartIXInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InterestGrp/ProgramServicesAmt021903645
IRS990/InterestGrp/TotalAmt021903645
IRS990/InvestmentIncomeGrp/ExclusionAmt01956644
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt01956644
IRS990/InvestmentInJointVentureInd00
IRS990/InvestmentsOtherSecuritiesGrp/BOYAmt08303084
IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt08730329
IRS990/InvestmentsPubTradedSecGrp/BOYAmt042345548
IRS990/InvestmentsPubTradedSecGrp/EOYAmt042486248
IRS990/IRPDocumentCnt0337
IRS990/IRPDocumentW2GCnt00
IRS990/LegalDomicileStateCd0NH
IRS990/LessCostOthBasisSalesExpnssGrp/SecuritiesAmt05125762
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd01
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0Financial assistance to eligible borrowers
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt0465773493
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt0545681693
IRS990/NetAssetsOrFundBalancesBOYAmt0221098613
IRS990/NetAssetsOrFundBalancesEOYAmt0223042547
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt0-812878
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt0-812878
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NetUnrlzdGainsLossesInvstAmt0751010
IRS990/NondeductibleContributionsInd00
IRS990/OfficeExpensesGrp/ProgramServicesAmt041001
IRS990/OfficeExpensesGrp/TotalAmt041001
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt0677119
IRS990/OtherAssetsTotalGrp/EOYAmt01223854
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0Loss On Swap Terminatio
IRS990/OtherExpensesGrp/Desc1Consolidation Loan Fee
IRS990/OtherExpensesGrp/Desc2Provision for Loan Loss
IRS990/OtherExpensesGrp/Desc3Bond Administration Exp
IRS990/OtherExpensesGrp/ProgramServicesAmt02551550
IRS990/OtherExpensesGrp/ProgramServicesAmt12433711
IRS990/OtherExpensesGrp/ProgramServicesAmt2592858
IRS990/OtherExpensesGrp/ProgramServicesAmt3153297
IRS990/OtherExpensesGrp/TotalAmt02551550
IRS990/OtherExpensesGrp/TotalAmt12433711
IRS990/OtherExpensesGrp/TotalAmt2592858
IRS990/OtherExpensesGrp/TotalAmt3153297
IRS990/OtherLiabilitiesGrp/BOYAmt04897745
IRS990/OtherLiabilitiesGrp/EOYAmt03872535
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt0618873579
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt0697814641
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt03211705
IRS990/PrincipalOfficerNm0Christiana Thornton
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0522291
IRS990/ProgramServiceRevenueGrp/BusinessCd1522291
IRS990/ProgramServiceRevenueGrp/BusinessCd2522291
IRS990/ProgramServiceRevenueGrp/BusinessCd3522291
IRS990/ProgramServiceRevenueGrp/Desc0Interest student loans
IRS990/ProgramServiceRevenueGrp/Desc1DL Service Fee Revenue
IRS990/ProgramServiceRevenueGrp/Desc2Late charges & other
IRS990/ProgramServiceRevenueGrp/Desc3Federal Interest Benefit
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt035406040
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt116683460
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2878918
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt3662110
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt035406040
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt116683460
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2878918
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt3662110
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt02425746
IRS990/PYOtherExpensesAmt043815663
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt045713273
IRS990/PYRevenuesLessExpensesAmt04303356
IRS990/PYSalariesCompEmpBnftPaidAmt020000
IRS990/PYTotalExpensesAmt043835663
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt048139019
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt01192924
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd01
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt053630528
IRS990/SavingsAndTempCashInvstGrp/BOYAmt017152365
IRS990/SavingsAndTempCashInvstGrp/EOYAmt020987915
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt01956644
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt01753441
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt01170315
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt0963273
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt0895868
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt06739541
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt053630528
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt045713273
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt039520425
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt037101649
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt039619797
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt0215585672
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt01956644
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt01753441
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt01170315
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt0963273
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt0895868
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt06739541
IRS990ScheduleA/InvestmentIncomeCYPct00.03030
IRS990ScheduleA/InvestmentIncomePYPct00.02780
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.96970
IRS990ScheduleA/PublicSupportPY509Pct00.97220
IRS990ScheduleA/PublicSupportTotal509Amt0215585672
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt053630528
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt045713273
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt039520425
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt037101649
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt039619797
IRS990ScheduleA/Total509Grp/TotalAmt0215585672
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt055587172
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt047466714
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt040690740
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt038064922
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt040515665
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0222325213
IRS990/ScheduleBRequiredInd00
IRS990ScheduleC/DirectContactLegislatorsInd00
IRS990ScheduleC/GrantsOtherOrganizationsAmt031945
IRS990ScheduleC/GrantsOtherOrganizationsInd01
IRS990ScheduleC/MailingsMembersInd00
IRS990ScheduleC/MediaAdvertisementsInd00
IRS990ScheduleC/NotDescribedSection501c3Ind00
IRS990ScheduleC/OtherActivitiesInd00
IRS990ScheduleC/PaidStaffOrManagementInd00
IRS990ScheduleC/PublicationsOrBroadcastInd00
IRS990ScheduleC/RalliesDemonstrationsInd00
IRS990ScheduleC/SupplementalInformationDetail/ExplanationTxt0A portion of dues paid to the Education Finance Council were available for lobbying. For the filing period, total dues paid were $35,319, of which $2,825 was available for lobbying. Additionally, the Organization paid $29,120 to Thompson & Coburn, a K Street Washington, DC law firm, in part for services related to lobbying activities and information on pending legislation that may impact the Organization.
IRS990ScheduleC/SupplementalInformationDetail/FormAndLineReferenceDesc0Part II-B, Line 1:
IRS990ScheduleC/TotalLobbyingExpendituresAmt031945
IRS990ScheduleC/VolunteersInd00
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt0-50887
IRS990ScheduleD/ExpensesSubtotalAmt053632257
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/InvestmentExpensesNotIncld2Amt0148587
IRS990ScheduleD/InvestmentExpensesNotIncldAmt0148587
IRS990ScheduleD/NetUnrealizedGainsInvstAmt0751010
IRS990ScheduleD/OtherExpensesNotIncludedAmt0-199474
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt01303723
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1288970
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt22279842
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Accrued interest payable
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Fees payable to U.S. government
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2Due to related entities
IRS990ScheduleD/OtherRevenuesNotIncludedAmt0-199474
IRS990ScheduleD/RevenueNotReportedAmt0751010
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt0-50887
IRS990ScheduleD/RevenueSubtotalAmt054825181
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The Company has received a determination letter from the Internal Revenue Service stating that it qualifies for tax-exempt status under Section 501(c)(3) of the Internal Revenue Code. Accordingly, no provision for income taxes has been included in the financial statements. Tax-exempt organizations could be required to record an obligation for income taxes as the result of a tax position they have historically taken on various tax exposure items including unrelated business income or tax status. Under guidance issued by the Financial Accounting Standards Board (FASB), assets and liabilities are established for uncertain tax positions taken or positions expected to be taken in income tax returns when such positions are judged to not meet the "more-likely-than-not" threshold, based upon the technical merits of the position. Estimated interest and penalties, if applicable, related to uncertain tax positions are included as a component of income tax expense. The Company has evaluated the positions taken on its filed tax returns. The Company has concluded no uncertain income tax positions exist at September 30, 2019 or 2018.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1Student loan allowances -199,474.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2Student loan allowances -199,474.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X, Line 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Part XI, Line 4b - Other Adjustments:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2Part XII, Line 4b - Other Adjustments:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalExpensesPerForm990Amt053581370
IRS990ScheduleD/TotalLiabilityAmt03872535

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$772,977,645
Liabilities
$549,935,098
Net assets
$223,042,547
Revenue
$54,774,294
Expenses
$53,581,370
Net income
$1,192,924
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$913$585$328$61.2$59.2$2.00
2024Detailed filing. Detailed filing data is available for this year.$904$591$314$63.9$60.1$3.88
2023Detailed filing. Detailed filing data is available for this year.$916$619$296$61.7$60.4$1.31
2022Detailed filing. Detailed filing data is available for this year.$928$657$272$60.0$52.5$7.52
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$911$622$289$75.1$62.1$13.0
2020Detailed filing. Detailed filing data is available for this year.$868$599$269$54.8$56.1$1.26
2019Detailed filing. Detailed filing data is available for this year.$773$550$223$54.8$53.6$1.19
2018Detailed filing. Detailed filing data is available for this year.$693$472$221$48.1$43.8$4.30
2017Detailed filing. Detailed filing data is available for this year.$665$448$217$40.6$37.5$3.09
2016Detailed filing. Detailed filing data is available for this year.$729$518$211$38.3$35.9$2.44
2015Detailed filing. Detailed filing data is available for this year.$748$542$206$40.6$35.3$5.27
2014Detailed filing. Detailed filing data is available for this year.$825$621$204$42.9$39.6$3.33
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$912$712$199$50.6$47.2$3.40
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1,017$820$197$52.1
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1,160$967$193$58.0
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1,488$1,382$106$76.9