Liabilities / Assets
14th percentile
Higher debt load relative to assets than 14% of similar nonprofits.
Ascendium Education Solutions Inc.
990 • Fiscal year 2014 • EIN 39-1853833
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
0.06x
Liabilities / Revenue
16th percentile
Higher debt load relative to revenue than 16% of similar nonprofits.
Net Margin
95th percentile
Higher net margin than 95% of similar nonprofits.
Top Officer Pay
59th percentile
Higher top officer pay than 59% of similar nonprofits.
Top officer pay equals 0.5% of source-year revenue.
Asset Growth
91st percentile
Faster asset growth than 91% of similar nonprofits.
Revenue Growth
3rd percentile
Faster revenue growth than 3% of similar nonprofits.
Balance Sheet
Assets
Up$576,295,637
Up $99,446,582 (+21%) from 2013
Net Assets
Up$543,221,774
Up $100,003,925 (+23%) from 2013
Liabilities
Down$33,073,863
Down $557,343 (-1.7%) from 2013
Revenue And Expenses
Revenue
Down$182,241,126
Down $81,044,788 (-31%) from 2013
Expenses
Down$82,253,711
Down $7,819,812 (-8.7%) from 2013
Net Income
Down$99,987,415
Down $73,224,976 (-42%) from 2013
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jan 1, 2014 to Dec 31, 2014
- Signed
- Sep 9, 2015
- Return Version
- 2014v5.0
- Gross Receipts
- $184,222,915
Mission and Program Overview
Mission
Ascendium education solutions, inc. Operates to provide for philanthropic support and cost effective enablement of access to and persistence in post-secondary education by providing full-range guaranty agency services and grant support 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 federal higher education act of 1965, as amended. This mission statement has been reviewed, acknowledged and informally approved by the board.
Operates to provide cost effective access to post-secondary education by providing guaranty services to broaden federally guaranteed loan availability.
Balance Sheet Detail
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Savings and Temporary Cash Investments | $222,605,807 | $316,822,879 | ▲ $94,217,072 |
| Investments in Publicly Traded Securities | $208,870,960 | $225,946,032 | ▲ $17,075,072 |
| Land, Buildings, and Equipment, Net | $14,110,271 | $14,137,034 | ▲ $26,763 |
| Accounts Receivable | $5,363,221 | $5,490,269 | ▲ $127,048 |
| Prepaid Expenses and Deferred Charges | $2,184,643 | $929,488 | ▼ $1,255,155 |
| Cash and Non-Interest-Bearing Accounts | $7,116,831 | $378,127 | ▼ $6,738,704 |
| Other Notes and Loans Receivable, Net | $0 | $0 | → $0 |
| Pledges and Grants Receivable | $0 | $0 | → $0 |
| Receivable From Disqualified Prsn | $0 | $0 | → $0 |
| Receivables From Officers Etc | $0 | $0 | → $0 |
| Investments Other Securities | $0 | $0 | → $0 |
| Investments Program Related | $0 | $0 | → $0 |
| Intangible Assets | $0 | $0 | → $0 |
| Inventories for Sale or Use | $0 | $0 | → $0 |
| Loans From Officers Directors | $0 | $0 | → $0 |
| Total Assets | $476,849,055 | $576,295,637 | ▲ $99,446,582 |
| Other Assets Total | $16,597,322 | $12,591,808 | ▼ $4,005,514 |
| Liabilities | |||
| Other Liabilities | $21,497,177 | $23,239,833 | ▲ $1,742,656 |
| Accounts Payable and Accrued Expenses | $6,270,119 | $5,040,889 | ▼ $1,229,230 |
| Deferred Revenue | $5,863,910 | $4,793,141 | ▼ $1,070,769 |
| Grants Payable | $0 | $0 | → $0 |
| Mortgage Notes Payable Secured by Investment Property | $0 | $0 | → $0 |
| Unsecured Notes Loans Payable | $0 | $0 | → $0 |
| Escrow Account Liability | $0 | $0 | → $0 |
| Tax Exempt Bond Liabilities | $0 | $0 | → $0 |
| Total Liabilities | $33,631,206 | $33,073,863 | ▼ $557,343 |
| Net Assets / Fund Balance | |||
| Unrestricted Net Assets | $443,217,849 | $543,221,774 | ▲ $100,003,925 |
| Permanently Rstr Net Assets | $0 | $0 | → $0 |
| Temporarily Rstr Net Assets | $0 | $0 | → $0 |
| Total Net Assets Fund Balance | $443,217,849 | $543,221,774 | ▲ $100,003,925 |
| Total Liabilities and Net Assets / Fund Balance | $476,849,055 | $576,295,637 | ▲ $99,446,582 |
Asset Categories
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Buildings | $12,820,175 | $2,911,241 | $15,731,416 |
| Equipment | $285,640 | $716,205 | $1,001,845 |
| Other Land Buildings | $488,558 | $231,405 | $719,963 |
| Land | $542,661 | - | $542,661 |
Compensation and Service Providers
Employees
| Name | Title | Full / Part Time | Base | Other | Total |
|---|---|---|---|---|---|
| Jacqueline Fairbairn | VP - Policy/Regul Compliance | FT | $127,711 | $186,030 | $313,741 |
| Beth Erickson | VP - Repayment Solutions | FT | $133,436 | $158,852 | $292,288 |
| Amy Kobishop | VP - Community Investments | FT | $135,000 | $148,975 | $283,975 |
| Ellen Welke | Director - Default Collections | FT | $97,275 | $59,777 | $157,052 |
| Steven A Schmidt | Communication Team Lead | FT | $114,484 | $30,156 | $144,640 |
| Jason E Rasmusen | Director - Strat Communication | FT | $101,272 | $26,675 | $127,947 |
| Benjamin P Dobner | Director - Comm Investments | FT | $98,901 | $20,447 | $119,348 |
| Cynthia Walsh 1 | Director | - | $19,000 | - | $19,000 |
| Janice Hesalroad 1 | Director | - | $6,334 | $12,666 | $19,000 |
| Richard A Weiss 1 | Director | - | $6,334 | $12,666 | $19,000 |
| Thomas A Scarlett 1 | Director | - | $15,500 | - | $15,500 |
| Emerson L Brumback 1 | Director/Committee Chairman | - | $7,750 | $7,750 | $15,500 |
Board Members and Trustees
| Name | Title |
|---|---|
| Richard D George 23 | Chairman/Pres/CEO/Treasurer |
| David J Hanson 14 | Director/Secretary |
| Nancy Seifert 3 | CFO/Asst Secretary |
Revenue and Support
Revenue Composition
- Contributions and Grants
- $225,000
- Program Service Revenue
- $179,406,916
- Investment Income
- $1,433,819
- Other Revenue
- $1,175,391
- Change in Net Assets
- $99,987,415
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Other Expenses | $47,840,361 |
| Grants and Similar Amounts Paid | $22,921,861 |
| Salaries, Compensation, and Employee Benefits | $11,491,489 |
| Professional Fundraising Fees | $0 |
| Total Fundraising Expense | $0 |
Functional Expense Allocation
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Grants to Domestic Orgs | $16,934,371 | - | - | $16,934,371 |
| Other Salaries and Wages | $7,584,453 | $219,308 | - | $7,803,761 |
| Grants to Domestic Individuals | $5,987,490 | - | - | $5,987,490 |
| All Other Expenses | $4,935,357 | - | - | $4,935,357 |
| Other Employee Benefits | $1,259,611 | $45,381 | - | $1,304,992 |
| Office Expenses | $1,242,426 | - | - | $1,242,426 |
| Current Officers, Directors, Trustees, and Key Employees | $953,320 | $163,414 | - | $1,116,734 |
| Pension Plan Contributions | $717,744 | $25,300 | - | $743,044 |
| Payroll Taxes | $507,630 | $15,328 | - | $522,958 |
| Occupancy | $439,032 | - | - | $439,032 |
| Fees for Services Other | $172,045 | - | - | $172,045 |
| Travel | $162,263 | $7,627 | - | $169,890 |
| Depreciation Depletion | $95,488 | - | - | $95,488 |
| Conferences and Meetings | $39,188 | - | - | $39,188 |
| Fees for Services Legal | - | $28,745 | - | $28,745 |
| Advertising | $13,854 | - | - | $13,854 |
| Fees for Services Accounting | - | $8,700 | - | $8,700 |
| Other Expenses | $-1,899,597 | $3,248,937 | - | $-1,899,597 |
| Total Functional Expenses | $78,490,971 | $3,762,740 | $0 | $82,253,711 |
International Activity
Grant and Assistance Recipients
| Recipient | Location | Category | Purpose | Amount |
|---|---|---|---|---|
| Mdrc | New York, NY | 501(c)(3) | Grant for MDRC's Replication of Accelerated Study in Association Programs (ASAP) at Community Colleges in Ohio | $1,854,373 |
| College Possible | St Paul, MN | 501(c)(3) | College Possible Program | $1,180,006 |
| Board of Regents of UW System | Madison, WI | 501(c)(3) | CITRL STEM Faculty Prep Grant | $1,076,443 |
| Boys and Girls Club of Dane County | Madison, WI | 501(c)(3) | AVID/TOPS Program | $662,380 |
| Milwaukee Public Schools | Milwaukee, WI | Govt | College Access Center | $584,687 |
| Regents - University of Minnesota | Minneapolis, MN | 501(c)(3) | College Ready & College Success Grants | $526,253 |
| Edgewood College | Madison, WI | 501(c)(3) | Committed to College Program | $509,220 |
| Wisconsin Higher Education Aids Board | Madison, WI | 501(c)(3) | STEM Scholarship Funding | $500,000 |
| Scholarship America | St Peter, MN | 501(c)(3) | Dreamkeepers Program Grant | $407,761 |
| Milwaukee Area Technical College | Milwaukee, WI | 501(c)(3) | College Bound Grant | $406,025 |
| Madison Area Technical College | Madison, WI | Govt | College Success Grant | $318,317 |
| UW-Eau Claire | Eau Claire, WI | 501(c)(3) | Commanding English Grant Blugold Beginnings Grant | $291,376 |
| Alverno College | Milwaukee, WI | 501(c)(3) | Promise Scholars Program | $290,868 |
| St Cloud State University | St Cloud, MN | Govt | FREE Program Grant | $290,177 |
| UW-Oshkosh | Oshkosh, WI | Govt | Career Ready grant and First Year Scholars/Future Young Professionals Program | $277,326 |
| Cardinal Stritch University | Milwaukee, WI | 501(c)(3) | LDRS Program/Career Ready | $249,381 |
| Southwest Wisconsin Technical College | Fennimore, WI | 501(c)(3) | Wisconsin Workforce Parnership Grant | $238,438 |
| Northstar Education Services LLC | Madison, WI | Llc-disregarded | GradReady Financial Literacy Grant | $225,000 |
| UW-Superior | Madison, WI | Govt | GEARS and Career Ready Initiative | $222,282 |
| UW-Marathon County | Wausau, WI | Govt | Student Support Services Grant | $207,873 |
| Moraine Park Technical College | Fond du Lac, WI | 501(c)(3) | Wisconsin Workforce Partnership Grant | $206,907 |
| United Community Center | Milwaukee, WI | 501(c)(3) | Abriendo Puertas Program Grant | $206,039 |
| Carnegie Foundation-Advancement of Teaching | Stanford, CA | 501(c)(3) | Community College Pathways Program (CCPP) | $200,000 |
| Nicolet Area Technical College | Rhinelander, WI | 501(c)(3) | Wisconsin Workforce Parnership Grant | $191,900 |
| UW-Milwaukee School of Continuing Education | Milwaukee, WI | Govt | Career Ready Internship Grant | $183,216 |
| Mount Mary University | Milwaukee, WI | 501(c)(3) | Promise Plus Project Grant | $181,306 |
| UW-Parkside | Kenosha, WI | Govt | Career Ready|Project Success|College Success Grants | $178,420 |
| Pathways to College Inc | Milwaukee, WI | 501(c)(3) | Pathways PreCollege Grant | $178,070 |
| Iowa Western Community College | Council Bluffs, IA | 501(c)(3) | Be First Program Grant | $164,771 |
| Lawrence University | Appleton, WI | 501(c)(3) | Career Ready Internship Grant | $162,627 |
| Friends of Saint Paul College | St Paul, MN | Govt. | College Ready Grant | $158,984 |
| Cuyahoga Community College Foundation | Cleveland, OH | 501(c)(3) | College Ready Grant | $157,505 |
| Fox Valley Technical College | Appleton, WI | 501(c)(3) | Brother to Brother Program | $156,337 |
| Silver Lake College | Manitowoc, WI | 501(c)(3) | Career Ready Internship Grant | $144,669 |
| Central Minnesota Jobs & Training Services | Monticello, MN | 501(c)(3) | Academic Improvement Matters Grant | $140,486 |
| Carthage College | Kenosha, WI | 501(c)(3) | Career Ready Internship Grant | $133,994 |
| St Norbert College | De Pere, WI | 501(c)(3) | STAR Program Grant | $130,291 |
| UW-Whitewater | Whitewater, WI | Govt | Career Ready Internship Grant | $127,303 |
| UW-Green Bay | Green Bay, WI | Govt | Career Ready Internship | $123,751 |
| Des Moines Area Community College | Ankeny, IA | 501(c)(3) | College Success Program | $120,000 |
| Baldwin Wallace University | Berea, OH | 501(c)(3) | College Success Grant | $118,350 |
| Wisconsin Indianhead Technical College | Shell Lake, WI | 501(c)(3) | Wisconsin Workforce Partnership Grant | $118,100 |
| Wittenberg University | Springfield, OH | - | College Success Grant | $116,667 |
| Lakeland College | Sheboygan, WI | 501(c)(3) | Career Ready Internship Grant | $113,554 |
| Clarke University | Dubuque, IA | 501(c)(3) | College Success Grant | $112,655 |
| UW-Stevens Point | Stevens Point, WI | Govt | Career Ready Internship Grant | $109,614 |
| Minneapolis Community & Tech College Foundation | Minneapolis, MN | 501(c)(3) | College Success Grant | $107,978 |
| Viterbo University | La Crosse, WI | 501(c)(3) | Career Ready Internship Grant | $102,117 |
| Grand View University | Des Moines, IA | 501(c)(3) | College Success Program | $99,028 |
| UW-Milwaukee Foundation Inc | Milwaukee, WI | 501(c)(3) | Life Impact Program & Upward Bound Program | $96,460 |
| Mid-State Technical College | Wisconsin Rapids, WI | 501(c)(3) | Pre-Program Preparation Project Grant | $96,253 |
| Ashland University | Ashland, OH | 501(c)(3) | Career Ready Internship Grant | $94,799 |
| University of Findlay | Findlay, OH | - | Career Ready Internship Grant | $84,851 |
| Beloit College | Beloit, WI | 501(c)(3) | ACT Ready Program | $83,704 |
| Century College Foundation | White Bear Lake, MN | 501(c)(3) | College Success Grant | $83,513 |
| Community Action Center of Northfield | Northfield, MN | 501(c)(3) | TORCH Program Grant | $82,291 |
| Urban League of Greater Madison | Madison, WI | 501(c)(3) | Urban League Scholars Academy Program Grant and sponsorship of Advancing Talent, Opportunity, & Prosperity Summit | $80,128 |
| United Way of Dane County | Madison, WI | 501(c)(3) | Corporate Match for United Way campaign and Sponsorship of Loaned Executive | $77,736 |
| Ripon College | Ripon, WI | 501(c)(3) | Career Ready Internship Grant | $76,206 |
| Indian Hills Community College | Ottumwa, IA | 501(c)(3) | College Success Program | $74,548 |
| Growing Together Initiative | Madison, WI | Govt. | Playground equipment funds | $68,000 |
| Ohio Dominican University | Columbus, OH | 501(c)(3) | College Success Grant | $66,540 |
| Mercy College of Health Sciences | Des Moines, IA | 501(c)(3) | Steps to Success Program | $65,712 |
| Chippewa Valley Technical College | Eau Claire, WI | 501(c)(3) | CAPS Program Grant | $54,123 |
| Trustees of Hamline Univ of Minnesota | Saint Paul, MN | 501(c)(3) | Career Ready Internship Grant | $48,050 |
| Youngstown State University | Youngstown, OH | - | Career Ready Internship Grant | $48,000 |
| Metropolitan State University Foundation | Saint Paul, MN | 501(c)(3) | Career Ready Internship Grant | $46,974 |
| Briar Cliff University | Sioux City, IA | 501(c)(3) | College Success Grant | $46,827 |
| St Catherine University | Saint Paul, MN | 501(c)(3) | Career Ready Internship Grant | $44,713 |
| Vermilion Community College | Ely, MN | 501(c)(3) | College Success Program Grant | $42,383 |
| Vera Court Neighborood Center | Madison, WI | 501(c)(3) | Rise Program Grant | $41,383 |
| La Crosse Promise Inc | La Crosse, WI | 501(c)(3) | Commit to College Grant | $40,879 |
| John Carroll University | University Heights, OH | 501(c)(3) | Career Ready Internship Grant | $38,406 |
| Carroll University | Waukesha, WI | 501(c)(3) | Career Ready Grant | $37,849 |
| St Olaf College | Northfield, MN | 501(c)(3) | Student Support Services Grant | $36,106 |
| Marquette University | Milwaukee, WI | 501(c)(3) | Urban Scholars Program | $35,955 |
| Forward Service Corporation | Madison, WI | 501(c)(3) | Upward Bound Summer Residential Program | $35,920 |
| Kent State University | Kent, OH | 501(c)(3) | Career Ready Internship Grant | $35,143 |
| College of St Scholastica Inc | Duluth, MN | 501(c)(3) | Career Ready Internship Grant | $35,000 |
| Saint Paul College | Saint Paul, MN | Govt | Below the Midpoint Grant Program | $34,037 |
| Hiram College | Hiram, OH | 501(c)(3) | Career Ready Internship Grant | $33,000 |
| Macalester College | Saint Paul, MN | 501(c)(3) | Career Ready Internship Grant | $32,411 |
| University of Northwestern-St Paul | St Paul, MN | - | Career Ready Internship Grant | $32,116 |
| YMCA of the Greater Twin Cities | Minneapolis, MN | 501(c)(3) | Beacons School Success Grant | $32,000 |
| Loras College | Dubuque, IA | Govt | Career Ready Internship Grant | $30,352 |
| Inver Hills Community College Foundation | Inver Grove Heights, MN | 501(c)(3) | Student Support Services Program | $30,195 |
| Grantmakers for Education | Portland, OR | 501(c)(3) | Conference Sponsorship | $28,494 |
| YMCA of Metropolitan Milwaukee | Milwaukee, WI | - | Commit to College Grant | $27,772 |
| Milwaukee Institute of Art & Design | Milwaukee, WI | 501(c)(3) | Career Ready Internship Grant | $26,800 |
| UW-Madison | Madison, WI | Govt | Odyssey Project Program Grant | $26,440 |
| National College Access Network (NCAN) | Washington, DC | 501(c)(3) | National Conference Sponsor | $25,750 |
| UW-River Falls | River Falls, WI | Govt | Career Ready Internship Grant | $24,758 |
| Cleveland State University Foundation | Cleveland, OH | 501(c)(3) | Career Ready Internship Grant | $22,586 |
| University of Minnesota | Saint Paul, MN | - | Career Ready Internship Grant | $21,777 |
| Ohio Wesleyan University | Delaware, OH | Govt | Career Ready Internship Grant | $20,667 |
| Wasfaa-wi | Waukesha, WI | - | College Goal Program | $17,000 |
| Simpson College | Indianola, IA | 501(c)(3) | Career Ready Internship Grant | $16,700 |
| Hibbing Community College | Hibbing, MN | 501(c)(3) | Climb Upward Bound Program | $15,409 |
| United Way of Northeastern South Dakota | Aberdeen, SD | - | Annual Programs | $15,024 |
| Oasfaa | Ada, OH | 501(c)(3) | College Goal Sunday | $15,000 |
| USSA Foundation | Washington, DC | - | USSA Legislative Conference | $15,000 |
| College of St Benedict | St Joseph, MN | 501(c)(3) | Career Ready Internship Grant | $14,567 |
| Milwaukee School of Engineering | Milwaukee, WI | 501(c)(3) | Career Ready Internship Grant | $13,638 |
| OM Tiffany Elementary School | Aberdeen, SD | 501(c)(3) | Unite for Our Communities | $13,477 |
| Bethel University | Saint Paul, MN | 501(c)(3) | Career Ready Internship Grant | $10,623 |
| Augsburg College | Minneapolis, MN | 501(c)(3) | Career Ready Internship Grant | $10,621 |
| Oberlin College | Oberlin, OH | 501(c)(3) | Career Ready Internship Grant | $10,319 |
| Midwestern Higher Education Compact | Minneapolis, MN | 501(c)(3) | MHEC Annual Policy Summit | $10,000 |
| Wisconsin Higher Education Business Roundtable Inc | Madison, WI | 501(c)(3) | Voices from the Classroom | $10,000 |
| South Central College | North Mankato, MN | 501(c)(3) | Pre-College Bridge Program | $9,979 |
| Boscobel Area Schools | Boscobel, WI | 501(c)(3) | Unite for our Communities | $9,017 |
| Rainwater Elementary School | Carrollton, TX | 501(c)(3) | Unite for Our Communities | $8,472 |
| Neighborhood House | St Paul, MN | 501(c)(3) | Adult College Readiness Grant | $8,082 |
| Lakeshore Elementary School | Eau Claire, WI | 501(c)(3) | Unite for Our Communities | $7,812 |
| Normandale Community College Foundation | Bloomington, MN | 501(c)(3) | Upward Bound Program Grant | $7,728 |
| Jefferson School for the Arts | Stevens Point, WI | 501(c)(3) | Unite for our Communities | $7,215 |
| Council for Opportunity in Education | Washington, DC | 501(c)(3) | Opportunity in Education | $7,074 |
| Donors Forum of Wisconsin | Milwaukee, WI | 501(c)(3) | Sponsorship of statewide conference | $5,750 |
| Minneapolis Community and Technical College | Minneapolis, MN | Govt | Starting Point Program Grant | $5,710 |
Fundraising, Events, and Gaming
- Fundraising activities
- No
- Gaming activities
- No
- Professional fundraiser used
- No
Fundraising and Gaming Totals
| Line Item | Amount |
|---|---|
| Professional Fundraising Fees | $0 |
Political and Lobbying Activity
- Political campaign activity
- No
- Lobbying activity
- No
- Subject to proxy tax
- No
Insider Transactions and Loans
Interested-Person Transactions
| Interested Party | Relationship | Description | Shared Revenue | Amount |
|---|---|---|---|---|
| Great Lakes Educational Loan Svcs | Contrl Ent/officer ovrlap | Intercompany Reimb. to GLELSI | No | $3,517,839 |
| Great Lakes Educational Loan Svcs | Contrl Ent/officer ovrlap | GLELSI Bldg Rent Pd to GLHEGC | No | $2,114,000 |
Loans and Receivables
| Line Item | Beginning | End | Change |
|---|---|---|---|
| Loans from Officers, Directors, Trustees, and Key Employees | $0 | $0 | → $0 |
| Receivables from Disqualified Persons | $0 | $0 | → $0 |
| Receivables from Officers, Directors, Trustees, and Key Employees | $0 | $0 | → $0 |
Debt and Bond Financing
Other Reported Liabilities
| Liability | Amount |
|---|---|
| Reserve-default Aversion Fees | $15,646,304 |
| Intercompany & Misc. Payables | $6,419,956 |
| Compensation Plan Payable | $1,173,573 |
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
- Yes
- Conflict-of-interest policy
- Yes
- Audited financial statements prepared
- Yes
- Key decisions subject to board approval
- Yes
- Management duties delegated
- No
Governance Explanations
Form 990, Part VI, Question 6 & 7A
“Great Lakes Higher Education Corporation, a nonprofit 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
“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
“On an annual basis, the Chairman of the Board, President and CEO, the Audit Committee and Board review the Form 990 prior to filing. The conflicts of interest questionnaires are completed by each director and reviewed prior to filing the Form 990.”
Form 990, Part VI, Question 12C
“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
“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.”
Part VII, Section A, Line 1A
“(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 1-3 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.”
Filing and Contact Details
Filer
- Filer Name
- Great Lakes Higher Education Guaranty Corp
- EIN
- 39-1853833
- In Care Of
- % NANCY SEIFERT
- Phone
- 6082461744
- Address
- 2401 International Lane, Suite, Madison, WI 53704
Signing Officer
- Name
- richard d george
- Title
- President & CEO
- Signed
- 2015-09-09
Organization Details
- Principal Officer
- Richard D George
- Formed
- 1996
- Legal Domicile
- Wi
- Voting Board Members
- 7
- Independent Board Members
- 6
- Employees
- 230
Preparer
- Firm
- Ernst & Young US Llp
- Address
- 111 MONUMENT CIRCLE SUITE 4000, INDIANAPOLIS, IN 46204
- Preparer
- Jennifer L Lynch
- Phone
- 3126817000
Supplemental Narrative
Additional Explanations
Financial Statements to General Public:
“Form 990, Part VI, Question 19 Federal tax law does not require that such documents be made publicly available. Documents are available upon specific request.”
Form 990, Part IX, Line 24C
“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 service activities, technology support and administrative support.”
Financial Statement Notes
Form 990 Part IV, Line 9 and Schedule D, Part IV
“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 Federal Higher Education Act of 1965, as amended.”
Schedule 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 activities. 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.”
Raw XML AppendixShowing 400 of 1,904 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.
| Path | # | Value |
|---|---|---|
| IRS990/AccountantCompileOrReviewInd | 0 | false |
| IRS990/AccountsPayableAccrExpnssGrp/BOYAmt | 0 | 6270119 |
| IRS990/AccountsPayableAccrExpnssGrp/EOYAmt | 0 | 5040889 |
| IRS990/AccountsReceivableGrp/BOYAmt | 0 | 5363221 |
| IRS990/AccountsReceivableGrp/EOYAmt | 0 | 5490269 |
| IRS990/ActivitiesConductedPrtshpInd | 0 | false |
| IRS990/ActivityOrMissionDesc | 0 | OPERATES TO PROVIDE COST EFFECTIVE ACCESS TO POST-SECONDARY EDUCATION BY PROVIDING GUARANTY SERVICES TO BROADEN FEDERALLY GUARANTEED LOAN AVAILABILITY. |
| IRS990/AdvertisingGrp/ProgramServicesAmt | 0 | 13854 |
| IRS990/AdvertisingGrp/TotalAmt | 0 | 13854 |
| IRS990/AllOtherExpensesGrp/ProgramServicesAmt | 0 | 4935357 |
| IRS990/AllOtherExpensesGrp/TotalAmt | 0 | 4935357 |
| IRS990/AnnualDisclosureCoveredPrsnInd | 0 | true |
| IRS990/AuditCommitteeInd | 0 | true |
| IRS990/BackupWthldComplianceInd | 0 | true |
| IRS990/BenefitsToMembersGrp/TotalAmt | 0 | 0 |
| IRS990/BooksInCareOfDetail/PersonNm | 0 | NANCY SEIFERT |
| IRS990/BooksInCareOfDetail/PhoneNum | 0 | 6082461410 |
| IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt | 0 | 2401 INTERNATIONAL LANE |
| IRS990/BooksInCareOfDetail/USAddress/CityNm | 0 | Madison |
| IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd | 0 | WI |
| IRS990/BooksInCareOfDetail/USAddress/ZIPCd | 0 | 53704 |
| IRS990/BusinessRlnWithFamMemInd | 0 | false |
| IRS990/BusinessRlnWithOfficerEntInd | 0 | true |
| IRS990/BusinessRlnWithOrgMemInd | 0 | false |
| IRS990/CashNonInterestBearingGrp/BOYAmt | 0 | 7116831 |
| IRS990/CashNonInterestBearingGrp/EOYAmt | 0 | 378127 |
| IRS990/ChangeToOrgDocumentsInd | 0 | false |
| IRS990/CntrctRcvdGreaterThan100KCnt | 0 | 0 |
| IRS990/CollectionsOfArtInd | 0 | false |
| IRS990/CompCurrentOfcrDirectorsGrp/ManagementAndGeneralAmt | 0 | 163414 |
| IRS990/CompCurrentOfcrDirectorsGrp/ProgramServicesAmt | 0 | 953320 |
| IRS990/CompCurrentOfcrDirectorsGrp/TotalAmt | 0 | 1116734 |
| IRS990/CompDisqualPersonsGrp/TotalAmt | 0 | 0 |
| IRS990/CompensationFromOtherSrcsInd | 0 | false |
| IRS990/CompensationProcessCEOInd | 0 | false |
| IRS990/CompensationProcessOtherInd | 0 | true |
| IRS990/ConferencesMeetingsGrp/ProgramServicesAmt | 0 | 39188 |
| IRS990/ConferencesMeetingsGrp/TotalAmt | 0 | 39188 |
| IRS990/ConflictOfInterestPolicyInd | 0 | true |
| IRS990/ConservationEasementsInd | 0 | false |
| IRS990/ConsolidatedAuditFinclStmtInd | 0 | true |
| IRS990/CreditCounselingInd | 0 | true |
| IRS990/CYBenefitsPaidToMembersAmt | 0 | 0 |
| IRS990/CYContributionsGrantsAmt | 0 | 225000 |
| IRS990/CYGrantsAndSimilarPaidAmt | 0 | 22921861 |
| IRS990/CYInvestmentIncomeAmt | 0 | 1433819 |
| IRS990/CYOtherExpensesAmt | 0 | 47840361 |
| IRS990/CYOtherRevenueAmt | 0 | 1175391 |
| IRS990/CYProgramServiceRevenueAmt | 0 | 179406916 |
| IRS990/CYRevenuesLessExpensesAmt | 0 | 99987415 |
| IRS990/CYSalariesCompEmpBnftPaidAmt | 0 | 11491489 |
| IRS990/CYTotalExpensesAmt | 0 | 82253711 |
| IRS990/CYTotalFundraisingExpenseAmt | 0 | 0 |
| IRS990/CYTotalProfFndrsngExpnsAmt | 0 | 0 |
| IRS990/CYTotalRevenueAmt | 0 | 182241126 |
| IRS990/DecisionsSubjectToApprovaInd | 0 | true |
| IRS990/DeductibleArtContributionInd | 0 | false |
| IRS990/DeductibleNonCashContriInd | 0 | false |
| IRS990/DeferredRevenueGrp/BOYAmt | 0 | 5863910 |
| IRS990/DeferredRevenueGrp/EOYAmt | 0 | 4793141 |
| IRS990/DelegationOfMgmtDutiesInd | 0 | false |
| IRS990/DepreciationDepletionGrp/ProgramServicesAmt | 0 | 95488 |
| IRS990/DepreciationDepletionGrp/TotalAmt | 0 | 95488 |
| IRS990/Desc | 0 | Great Lakes Higher Education Guaranty Corporation operates to provide for philanthropic support and cost effective enablement of access to and persistence in post-secondary education by providing full-range guaranty agency services and grant support 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 Federal Higher Education Act of 1965, as amended. |
| IRS990/DescribedInSection501c3Ind | 0 | true |
| IRS990/DisregardedEntityInd | 0 | false |
| IRS990/DocumentRetentionPolicyInd | 0 | true |
| IRS990/DonorAdvisedFundInd | 0 | false |
| IRS990/ElectionOfBoardMembersInd | 0 | true |
| IRS990/EmployeeCnt | 0 | 230 |
| IRS990/EmploymentTaxReturnsFiledInd | 0 | true |
| IRS990/EngagedInExcessBenefitTransInd | 0 | false |
| IRS990/EscrowAccountLiabilityGrp/BOYAmt | 0 | 0 |
| IRS990/EscrowAccountLiabilityGrp/EOYAmt | 0 | 0 |
| IRS990/ExpenseAmt | 0 | 78490971 |
| IRS990/FamilyOrBusinessRlnInd | 0 | false |
| IRS990/FederalGrantAuditPerformedInd | 0 | true |
| IRS990/FederalGrantAuditRequiredInd | 0 | true |
| IRS990/FeesForServicesAccountingGrp/ManagementAndGeneralAmt | 0 | 8700 |
| IRS990/FeesForServicesAccountingGrp/TotalAmt | 0 | 8700 |
| IRS990/FeesForServicesLegalGrp/ManagementAndGeneralAmt | 0 | 28745 |
| IRS990/FeesForServicesLegalGrp/TotalAmt | 0 | 28745 |
| IRS990/FeesForServicesLobbyingGrp/TotalAmt | 0 | 0 |
| IRS990/FeesForServicesManagementGrp/TotalAmt | 0 | 0 |
| IRS990/FeesForServicesOtherGrp/ProgramServicesAmt | 0 | 172045 |
| IRS990/FeesForServicesOtherGrp/TotalAmt | 0 | 172045 |
| IRS990/FeesForServicesProfFundraising/TotalAmt | 0 | 0 |
| IRS990/FeesForSrvcInvstMgmntFeesGrp/TotalAmt | 0 | 0 |
| IRS990/ForeignActivitiesInd | 0 | false |
| IRS990/ForeignFinancialAccountInd | 0 | false |
| IRS990/ForeignGrantsGrp/TotalAmt | 0 | 0 |
| IRS990/ForeignOfficeInd | 0 | false |
| IRS990/Form8282PropertyDisposedOfInd | 0 | false |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt | 0 | 2.0 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt | 1 | 2.0 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt | 2 | 2.0 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt | 3 | 0.0 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt | 4 | 0.0 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt | 5 | 2.0 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt | 6 | 59.0 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt | 7 | 54.0 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt | 8 | 0.0 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt | 9 | 0.0 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt | 10 | 0.0 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt | 11 | 0.0 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt | 12 | 0.0 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt | 13 | 0.0 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt | 14 | 0.0 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 0 | 1.0 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 1 | 1.0 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 2 | 1.0 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 3 | 3.0 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 4 | 3.0 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 5 | 1.0 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 6 | 1.0 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 7 | 1.0 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 8 | 50.0 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 9 | 50.0 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 10 | 50.0 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 11 | 45.0 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 12 | 45.0 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 13 | 45.0 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 14 | 45.0 |
| IRS990/Form990PartVIISectionAGrp/HighestCompensatedEmployeeInd | 0 | X |
| IRS990/Form990PartVIISectionAGrp/HighestCompensatedEmployeeInd | 1 | X |
| IRS990/Form990PartVIISectionAGrp/HighestCompensatedEmployeeInd | 2 | X |
| IRS990/Form990PartVIISectionAGrp/HighestCompensatedEmployeeInd | 3 | X |
| IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd | 0 | X |
| IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd | 1 | X |
| IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd | 2 | X |
| IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd | 3 | X |
| IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd | 4 | X |
| IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd | 5 | X |
| IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd | 6 | X |
| IRS990/Form990PartVIISectionAGrp/OfficerInd | 0 | X |
| IRS990/Form990PartVIISectionAGrp/OfficerInd | 1 | X |
| IRS990/Form990PartVIISectionAGrp/OfficerInd | 2 | X |
| IRS990/Form990PartVIISectionAGrp/OfficerInd | 3 | X |
| IRS990/Form990PartVIISectionAGrp/OfficerInd | 4 | X |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 0 | 0 |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 1 | 0 |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 2 | 0 |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 3 | 0 |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 4 | 0 |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 5 | 0 |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 6 | 102106 |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 7 | 61273 |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 8 | 33044 |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 9 | 43039 |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 10 | 58303 |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 11 | 30534 |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 12 | 30156 |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 13 | 26675 |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 14 | 20447 |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 0 | Emerson L Brumback 1 |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 1 | David J Hanson 14 |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 2 | Janice Hesalroad 1 |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 3 | Thomas A Scarlett 1 |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 4 | Cynthia Walsh 1 |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 5 | Richard A Weiss 1 |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 6 | Richard D George 23 |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 7 | Nancy Seifert 3 |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 8 | Amy Kobishop |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 9 | Beth Erickson |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 10 | Jacqueline Fairbairn |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 11 | Ellen Welke |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 12 | Steven A Schmidt |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 13 | JASON E RASMUSEN |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 14 | BENJAMIN P DOBNER |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 0 | 7750 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 1 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 2 | 6334 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 3 | 15500 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 4 | 19000 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 5 | 6334 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 6 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 7 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 8 | 250931 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 9 | 249249 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 10 | 255438 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 11 | 126518 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 12 | 114484 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 13 | 101272 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 14 | 98901 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 0 | 7750 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 1 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 2 | 12666 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 3 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 4 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 5 | 12666 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 6 | 899436 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 7 | 387859 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 8 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 9 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 10 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 11 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 12 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 13 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 14 | 0 |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 0 | Director/Committee Chairman |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 1 | Director/Secretary |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 2 | Director |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 3 | Director |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 4 | Director |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 5 | Director |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 6 | Chairman/Pres/Ceo/Treasurer |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 7 | CFO/Asst Secretary |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 8 | VP - Community Investments |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 9 | VP - Repayment Solutions |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 10 | VP - Policy/Regul Compliance |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 11 | Director - Default Collections |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 12 | Communication Team Lead |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 13 | DIRECTOR - STRAT COMMUNICATION |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 14 | DIRECTOR - COMM INVESTMENTS |
| IRS990/Form990ProvidedToGvrnBodyInd | 0 | true |
| IRS990/FormationYr | 0 | 1996 |
| IRS990/FormerOfcrEmployeesListedInd | 0 | false |
| IRS990/FSAuditedBasisGrp/ConsolidatedBasisFinclStmtInd | 0 | X |
| IRS990/FSAuditedInd | 0 | true |
| IRS990/FundraisingActivitiesInd | 0 | false |
| IRS990/GainOrLossGrp/OtherAmt | 0 | -1849 |
| IRS990/GamingActivitiesInd | 0 | false |
| IRS990/GoverningBodyVotingMembersCnt | 0 | 7 |
| IRS990/GovernmentGrantsAmt | 0 | 225000 |
| IRS990/GrantAmt | 0 | 22921861 |
| IRS990/GrantsPayableGrp/BOYAmt | 0 | 0 |
| IRS990/GrantsPayableGrp/EOYAmt | 0 | 0 |
| IRS990/GrantsToDomesticIndividualsGrp/ProgramServicesAmt | 0 | 5987490 |
| IRS990/GrantsToDomesticIndividualsGrp/TotalAmt | 0 | 5987490 |
| IRS990/GrantsToDomesticOrgsGrp/ProgramServicesAmt | 0 | 16934371 |
| IRS990/GrantsToDomesticOrgsGrp/TotalAmt | 0 | 16934371 |
| IRS990/GrantsToIndividualsInd | 0 | true |
| IRS990/GrantsToOrganizationsInd | 0 | true |
| IRS990/GrantToRelatedPersonInd | 0 | false |
| IRS990/GrossReceiptsAmt | 0 | 184222915 |
| IRS990/GrossRentsGrp/RealAmt | 0 | 2114000 |
| IRS990/GroupReturnForAffiliatesInd | 0 | false |
| IRS990/IncludeFIN48FootnoteInd | 0 | false |
| IRS990/IncmFromInvestBondProceedsGrp/TotalRevenueColumnAmt | 0 | 0 |
| IRS990/IndependentAuditFinclStmtInd | 0 | false |
| IRS990/IndependentVotingMemberCnt | 0 | 6 |
| IRS990/IndivRcvdGreaterThan100KCnt | 0 | 6 |
| IRS990/IndoorTanningServicesInd | 0 | false |
| IRS990/InfoInScheduleOPartIIIInd | 0 | X |
| IRS990/InfoInScheduleOPartVIIInd | 0 | X |
| IRS990/InfoInScheduleOPartVIInd | 0 | X |
| IRS990/InformationTechnologyGrp/TotalAmt | 0 | 0 |
| IRS990/InsuranceGrp/TotalAmt | 0 | 0 |
| IRS990/IntangibleAssetsGrp/BOYAmt | 0 | 0 |
| IRS990/IntangibleAssetsGrp/EOYAmt | 0 | 0 |
| IRS990/InterestGrp/TotalAmt | 0 | 0 |
| IRS990/InventoriesForSaleOrUseGrp/BOYAmt | 0 | 0 |
| IRS990/InventoriesForSaleOrUseGrp/EOYAmt | 0 | 0 |
| IRS990/InvestmentIncomeGrp/ExclusionAmt | 0 | 1435668 |
| IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt | 0 | 1435668 |
| IRS990/InvestmentInJointVentureInd | 0 | false |
| IRS990/InvestmentsOtherSecuritiesGrp/BOYAmt | 0 | 0 |
| IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt | 0 | 0 |
| IRS990/InvestmentsProgramRelatedGrp/BOYAmt | 0 | 0 |
| IRS990/InvestmentsProgramRelatedGrp/EOYAmt | 0 | 0 |
| IRS990/InvestmentsPubTradedSecGrp/BOYAmt | 0 | 208870960 |
| IRS990/InvestmentsPubTradedSecGrp/EOYAmt | 0 | 225946032 |
| IRS990/IRPDocumentCnt | 0 | 130388 |
| IRS990/IRPDocumentW2GCnt | 0 | 0 |
| IRS990/LandBldgEquipAccumDeprecAmt | 0 | 3858851 |
| IRS990/LandBldgEquipBasisNetGrp/BOYAmt | 0 | 14110271 |
| IRS990/LandBldgEquipBasisNetGrp/EOYAmt | 0 | 14137034 |
| IRS990/LandBldgEquipCostOrOtherBssAmt | 0 | 17995885 |
| IRS990/LegalDomicileStateCd | 0 | WI |
| IRS990/LessCostOthBasisSalesExpnssGrp/OtherAmt | 0 | 1849 |
| IRS990/LessRentalExpensesGrp/RealAmt | 0 | 1979940 |
| IRS990/LoanOutstandingInd | 0 | false |
| IRS990/LoansFromOfficersDirectorsGrp/BOYAmt | 0 | 0 |
| IRS990/LoansFromOfficersDirectorsGrp/EOYAmt | 0 | 0 |
| IRS990/LobbyingActivitiesInd | 0 | false |
| IRS990/LocalChaptersInd | 0 | false |
| IRS990/MaterialDiversionOrMisuseInd | 0 | false |
| IRS990/MembersOrStockholdersInd | 0 | true |
| IRS990/MethodOfAccountingAccrualInd | 0 | X |
| IRS990/MinutesOfCommitteesInd | 0 | true |
| IRS990/MinutesOfGoverningBodyInd | 0 | true |
| IRS990/MissionDesc | 0 | GREAT LAKES HIGHER EDUCATION CORPORATION OPERATES TO PROVIDE FOR PHILANTHROPIC SUPPORT AND COST EFFECTIVE ENABLEMENT OF ACCESS TO AND PERSISTENCE IN POST-SECONDARY EDUCATION BY PROVIDING FULL-RANGE GUARANTY AGENCY SERVICES AND GRANT SUPPORT 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 FEDERAL HIGHER EDUCATION ACT OF 1965, AS AMENDED. THIS MISSION STATEMENT HAS BEEN REVIEWED, ACKNOWLEDGED AND INFORMALLY APPROVED BY THE BOARD. |
| IRS990/MoreThan5000KToIndividualsInd | 0 | false |
| IRS990/MoreThan5000KToOrgInd | 0 | false |
| IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt | 0 | 0 |
| IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt | 0 | 0 |
| IRS990/NetAssetsOrFundBalancesBOYAmt | 0 | 443217849 |
| IRS990/NetAssetsOrFundBalancesEOYAmt | 0 | 543221774 |
| IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt | 0 | -1849 |
| IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt | 0 | -1849 |
| IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt | 0 | 0 |
| IRS990/NetIncomeFromGamingGrp/TotalRevenueColumnAmt | 0 | 0 |
| IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt | 0 | 0 |
| IRS990/NetRentalIncomeOrLossGrp/ExclusionAmt | 0 | 134060 |
| IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt | 0 | 134060 |
| IRS990/NetUnrelatedBusTxblIncmAmt | 0 | 0 |
| IRS990/NetUnrlzdGainsLossesInvstAmt | 0 | 16510 |
| IRS990/NondeductibleContributionsInd | 0 | false |
| IRS990/OccupancyGrp/ProgramServicesAmt | 0 | 439032 |
| IRS990/OccupancyGrp/TotalAmt | 0 | 439032 |
| IRS990/OfficeExpensesGrp/ProgramServicesAmt | 0 | 1242426 |
| IRS990/OfficeExpensesGrp/TotalAmt | 0 | 1242426 |
| IRS990/OfficerMailingAddressInd | 0 | false |
| IRS990/OperateHospitalInd | 0 | false |
| IRS990/Organization501c3Ind | 0 | X |
| IRS990/OrganizationFollowsSFAS117Ind | 0 | X |
| IRS990/OtherAssetsTotalGrp/BOYAmt | 0 | 16597322 |
| IRS990/OtherAssetsTotalGrp/EOYAmt | 0 | 12591808 |
| IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt | 0 | 45381 |
| IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt | 0 | 1259611 |
| IRS990/OtherEmployeeBenefitsGrp/TotalAmt | 0 | 1304992 |
| IRS990/OtherExpensesGrp/Desc | 0 | BORROWER SKIP TRACING |
| IRS990/OtherExpensesGrp/Desc | 1 | COLLECTION FEES |
| IRS990/OtherExpensesGrp/Desc | 2 | CORP SUPPORT FUNC ALLOCATION |
| IRS990/OtherExpensesGrp/Desc | 3 | DISCOUNT-REHAB LOANS |
| IRS990/OtherExpensesGrp/ManagementAndGeneralAmt | 0 | 3248937 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 0 | 355468 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 1 | 24468214 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 2 | 14522614 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 3 | -1899597 |
| IRS990/OtherExpensesGrp/TotalAmt | 0 | 355468 |
| IRS990/OtherExpensesGrp/TotalAmt | 1 | 24468214 |
| IRS990/OtherExpensesGrp/TotalAmt | 2 | 17771551 |
| IRS990/OtherExpensesGrp/TotalAmt | 3 | -1899597 |
| IRS990/OtherLiabilitiesGrp/BOYAmt | 0 | 21497177 |
| IRS990/OtherLiabilitiesGrp/EOYAmt | 0 | 23239833 |
| IRS990/OtherRevenueMiscGrp/BusinessCd | 0 | 900099 |
| IRS990/OtherRevenueMiscGrp/Desc | 0 | ALL OTHER REVENUE |
| IRS990/OtherRevenueMiscGrp/ExclusionAmt | 0 | 1041331 |
| IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt | 0 | 1041331 |
| IRS990/OtherRevenueTotalAmt | 0 | 1041331 |
| IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt | 0 | 219308 |
| IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt | 0 | 7584453 |
| IRS990/OtherSalariesAndWagesGrp/TotalAmt | 0 | 7803761 |
| IRS990/OthNotesLoansReceivableNetGrp/BOYAmt | 0 | 0 |
| IRS990/OthNotesLoansReceivableNetGrp/EOYAmt | 0 | 0 |
| IRS990/PartialLiquidationInd | 0 | false |
| IRS990/PaymentsToAffiliatesGrp/TotalAmt | 0 | 0 |
| IRS990/PayPremiumsPrsnlBnftCntrctInd | 0 | false |
| IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt | 0 | 15328 |
| IRS990/PayrollTaxesGrp/ProgramServicesAmt | 0 | 507630 |
| IRS990/PayrollTaxesGrp/TotalAmt | 0 | 522958 |
| IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt | 0 | 25300 |
| IRS990/PensionPlanContributionsGrp/ProgramServicesAmt | 0 | 717744 |
| IRS990/PensionPlanContributionsGrp/TotalAmt | 0 | 743044 |
| IRS990/PermanentlyRstrNetAssetsGrp/BOYAmt | 0 | 0 |
| IRS990/PermanentlyRstrNetAssetsGrp/EOYAmt | 0 | 0 |
| IRS990/PledgesAndGrantsReceivableGrp/BOYAmt | 0 | 0 |
| IRS990/PledgesAndGrantsReceivableGrp/EOYAmt | 0 | 0 |
| IRS990/PoliticalCampaignActyInd | 0 | false |
| IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt | 0 | 2184643 |
| IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt | 0 | 929488 |
| IRS990/PrincipalOfficerNm | 0 | Richard D George |
| IRS990/ProfessionalFundraisingInd | 0 | false |
| IRS990/ProgramServiceRevenueGrp/BusinessCd | 0 | 900099 |
| IRS990/ProgramServiceRevenueGrp/BusinessCd | 1 | 900099 |
| IRS990/ProgramServiceRevenueGrp/BusinessCd | 2 | 900099 |
| IRS990/ProgramServiceRevenueGrp/BusinessCd | 3 | 532000 |
| IRS990/ProgramServiceRevenueGrp/Desc | 0 | COLLECTIONS & REHABILITATIONS |
| IRS990/ProgramServiceRevenueGrp/Desc | 1 | ACCOUNT MAINTENANCE FEES |
| IRS990/ProgramServiceRevenueGrp/Desc | 2 | DEFAULT AVERSION FEES |
| IRS990/ProgramServiceRevenueGrp/Desc | 3 | RENTAL INCOME OR (LOSS) |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 0 | 151614920 |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 1 | 20221254 |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 2 | 7450742 |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 3 | 120000 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 0 | 151614920 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 1 | 20221254 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 2 | 7450742 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 3 | 120000 |
| IRS990/ProhibitedTaxShelterTransInd | 0 | false |
| IRS990/PYBenefitsPaidToMembersAmt | 0 | 0 |
| IRS990/PYContributionsGrantsAmt | 0 | 38389965 |
| IRS990/PYExcessBenefitTransInd | 0 | false |
| IRS990/PYGrantsAndSimilarPaidAmt | 0 | 14226840 |
| IRS990/PYInvestmentIncomeAmt | 0 | 738961 |
| IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt | 0 | 0 |
| IRS990/PYOtherExpensesAmt | 0 | 63455279 |
| IRS990/PYOtherRevenueAmt | 0 | 192278 |
| IRS990/PYProgramServiceRevenueAmt | 0 | 223964710 |
| IRS990/PYRevenuesLessExpensesAmt | 0 | 173212391 |
| IRS990/PYSalariesCompEmpBnftPaidAmt | 0 | 12391404 |
| IRS990/PYTotalExpensesAmt | 0 | 90073523 |
| IRS990/PYTotalProfFndrsngExpnsAmt | 0 | 0 |
| IRS990/PYTotalRevenueAmt | 0 | 263285914 |
| IRS990/QuidProQuoContributionsInd | 0 | false |
| IRS990/RcvblFromDisqualifiedPrsnGrp/BOYAmt | 0 | 0 |
| IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt | 0 | 0 |
| IRS990/RcvFndsToPayPrsnlBnftCntrctInd | 0 | false |
| IRS990/ReceivablesFromOfficersEtcGrp/BOYAmt | 0 | 0 |
| IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt | 0 | 0 |
| IRS990/ReconcilationRevenueExpnssAmt | 0 | 99987415 |
| IRS990/RegularMonitoringEnfrcInd | 0 | true |
| IRS990/RelatedEntityInd | 0 | true |
| IRS990/RelatedOrganizationCtrlEntInd | 0 | true |
| IRS990/RentalIncomeOrLossGrp/PersonalAmt | 0 | 0 |
| IRS990/RentalIncomeOrLossGrp/RealAmt | 0 | 134060 |
| IRS990/ReportInvestmentsOtherSecInd | 0 | false |
| IRS990/ReportLandBuildingEquipmentInd | 0 | true |
| IRS990/ReportOtherAssetsInd | 0 | false |
Document Assets
No mirrored PDF or thumbnail assets are attached yet.
Filings
Displayed year
2014 • Form 990Detailed filing. Detailed filing data is available for this year.
- Assets
- $576,295,637
- Liabilities
- $33,073,863
- Net assets
- $543,221,774
- Revenue
- $182,241,126
- Expenses
- $82,253,711
- Net income
- $99,987,415