Liabilities / Assets
15th percentile
Higher debt load relative to assets than 15% of similar nonprofits.
Ascendium Education Solutions Inc.
990 • Fiscal year 2016 • EIN 39-1853833
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
0.06x
Liabilities / Revenue
13th percentile
Higher debt load relative to revenue than 13% of similar nonprofits.
Net Margin
94th percentile
Higher net margin than 94% of similar nonprofits.
Top Officer Pay
52nd percentile
Higher top officer pay than 52% of similar nonprofits.
Top officer pay equals 0.4% of source-year revenue.
Asset Growth
3rd percentile
Faster asset growth than 3% of similar nonprofits.
Revenue Growth
87th percentile
Faster revenue growth than 87% of similar nonprofits.
Balance Sheet
Assets
Down$571,437,193
Down $98,889,791 (-15%) from 2015
Net Assets
Down$536,070,130
Down $100,399,352 (-16%) from 2015
Liabilities
Up$35,367,063
Up $1,509,561 (+4.5%) from 2015
Revenue And Expenses
Revenue
Up$234,388,567
Up $35,718,758 (+18%) from 2015
Expenses
Up$134,141,485
Up $29,170,941 (+28%) from 2015
Net Income
Up$100,247,082
Up $6,547,817 (+7.0%) from 2015
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jan 1, 2016 to Dec 31, 2016
- Signed
- Aug 25, 2017
- Return Version
- 2016v3.1
- Gross Receipts
- $234,389,093
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 | $653,438,231 | $377,932,120 | ▼ $275,506,111 |
| Investments in Publicly Traded Securities | $0 | $169,797,351 | ▲ $169,797,351 |
| Accounts Receivable | $5,263,534 | $7,241,859 | ▲ $1,978,325 |
| Cash and Non-Interest-Bearing Accounts | $1,545,709 | $1,301,886 | ▼ $243,823 |
| Prepaid Expenses and Deferred Charges | $1,111,515 | $849,332 | ▼ $262,183 |
| Land, Buildings, and Equipment, Net | $130,298 | $103,169 | ▼ $27,129 |
| 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 | $670,326,984 | $571,437,193 | ▼ $98,889,791 |
| Other Assets Total | $8,837,697 | $14,211,476 | ▲ $5,373,779 |
| Liabilities | |||
| Other Liabilities | $22,277,318 | $19,124,287 | ▼ $3,153,031 |
| Accounts Payable and Accrued Expenses | $7,092,107 | $11,681,684 | ▲ $4,589,577 |
| Deferred Revenue | $4,488,077 | $4,561,092 | ▲ $73,015 |
| 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 | $33,857,502 | $35,367,063 | ▲ $1,509,561 |
| Net Assets / Fund Balance | |||
| Unrestricted Net Assets | $636,469,482 | $536,070,130 | ▼ $100,399,352 |
| Permanently Rstr Net Assets | $0 | $0 | → $0 |
| Temporarily Rstr Net Assets | $0 | $0 | → $0 |
| Total Net Assets Fund Balance | $636,469,482 | $536,070,130 | ▼ $100,399,352 |
| Total Liabilities and Net Assets / Fund Balance | $670,326,984 | $571,437,193 | ▼ $98,889,791 |
Asset Categories
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Equipment | $101,656 | $304,595 | $406,251 |
| Other Land Buildings | $1,513 | $37,667 | $39,180 |
Compensation and Service Providers
Employees
| Name | Title | Full / Part Time | Base | Other | Total |
|---|---|---|---|---|---|
| Jacqueline Fairbairn 3 | VP - Policy/Regul Compliance | FT | $127,170 | $193,225 | $320,395 |
| Beth Erickson 3 | VP - Repayment Solutions | FT | $132,437 | $178,536 | $310,973 |
| Amy Kobishop 3 | VP - Community Investments | FT | $135,000 | $165,098 | $300,098 |
| Jason E Rasmusen | Director - Strat Communication | FT | $120,156 | $66,196 | $186,352 |
| Ellen Welke | Director - Default Collections | FT | $100,388 | $64,073 | $164,461 |
| Kira Cortese | Creative Director | FT | $114,390 | $28,262 | $142,652 |
| Benjamin P Dobner | Director - Comm Investments | FT | $115,577 | $24,308 | $139,885 |
| Kristi Myers | Systems Integration Analyst | FT | $105,392 | $21,076 | $126,468 |
| Marcia Hoffman | Sr Business Systems Analyst | FT | $100,533 | $13,257 | $113,790 |
| Cynthia Walsh 1 | Director | - | $20,700 | - | $20,700 |
| Richard A Weiss 1 | Director | - | $6,900 | $13,800 | $20,700 |
| Thomas A Scarlett 1 | Director | - | $16,900 | - | $16,900 |
| Emerson L Brumback 1 | Director/Committee Chairman | - | $8,450 | $8,450 | $16,900 |
| Mary Burke 1 | Director | - | $5,633 | $11,266 | $16,899 |
Board Members and Trustees
| Name | Title |
|---|---|
| Richard D George 23 | Chairman/Pres/CEO/Treasurer |
| David J Hanson 14 | Director/Secretary |
| Rebecca Rapp 3 | Gen. Counsel & Asst Secretary |
Revenue and Support
Revenue Composition
- Contributions and Grants
- $225,000
- Program Service Revenue
- $222,226,492
- Investment Income
- $3,248,125
- Other Revenue
- $8,688,950
- Change in Net Assets
- $100,247,082
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Other Expenses | $96,166,310 |
| Grants and Similar Amounts Paid | $26,123,776 |
| Salaries, Compensation, and Employee Benefits | $11,851,399 |
| Professional Fundraising Fees | $0 |
| Total Fundraising Expense | $0 |
Functional Expense Allocation
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Other Expenses | $28,601,622 | $2,848,310 | - | $28,601,622 |
| Grants to Domestic Orgs | $20,049,841 | - | - | $20,049,841 |
| All Other Expenses | $8,655,575 | - | - | $8,655,575 |
| Other Salaries and Wages | $7,669,317 | $266,597 | - | $7,935,914 |
| Grants to Domestic Individuals | $6,073,935 | - | - | $6,073,935 |
| Other Employee Benefits | $1,384,844 | $50,663 | - | $1,435,507 |
| Current Officers, Directors, Trustees, and Key Employees | $944,706 | $203,707 | - | $1,148,413 |
| Office Expenses | $1,079,497 | - | - | $1,079,497 |
| Pension Plan Contributions | $734,007 | $28,424 | - | $762,431 |
| Payroll Taxes | $550,375 | $18,759 | - | $569,134 |
| Occupancy | $420,302 | - | - | $420,302 |
| Fees for Services Other | $190,929 | - | - | $190,929 |
| Travel | $162,494 | $8,341 | - | $170,835 |
| Conferences and Meetings | $49,963 | - | - | $49,963 |
| Advertising | $39,944 | - | - | $39,944 |
| Fees for Services Legal | - | $33,072 | - | $33,072 |
| Depreciation Depletion | $17,450 | - | - | $17,450 |
| Fees for Services Accounting | - | $8,225 | - | $8,225 |
| Total Functional Expenses | $130,675,387 | $3,466,098 | $0 | $134,141,485 |
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 | $2,467,401 |
| Board of Regents of UW System | Madison, WI | Govt | Career Ready Internship Grant; APLUS Wave Program; CIRTL STEM Faculty Prep | $2,049,993 |
| Wisconsin Higher Education Aids Board | Madison, WI | 501(c)(3) | STEM Success Scholarship Funding | $1,637,841 |
| College Possible | St Paul, MN | 501(c)(3) | College Possible Programs; Ensuring Sustainability Program | $1,219,000 |
| Achieving The Dream Inc | Silver Spring, MD | 501(c)(3) | Coaching Model Transformation, Open Educational Resources, Engaging Adjunct Faculty in Student Success | $1,080,402 |
| Carnegie Foundation-Advancement of Teaching | Stanford, CA | 501(c)(3) | Expansion of Community College Pathways Program (CCPP) | $511,389 |
| Boys and Girls Club of Dane County | Madison, WI | 501(c)(3) | College Ready Grant; AVID/TOPS Program | $508,049 |
| Teachers College | New York, NY | Govt | Community College Research Grant; Scaling Guided Pathway Reform | $463,384 |
| Kent State University | Kent, OH | Govt | Career Ready Internship Grant | $454,071 |
| Education Commission of the States | Denver, CO | 501(c)(3) | Scaling of Core Principles for collaboration between funders and service providers. | $450,000 |
| Milwaukee Area Technical College | Milwaukee, WI | 501(c)(3) | College Ready Grant | $372,540 |
| Milwaukee Public Schools | Milwaukee, WI | Govt | College Access Center | $357,999 |
| Regents - University of Minnesota | Minneapolis, MN | 501(c)(3) | College Ready & Career Ready Grants | $355,519 |
| UW-Madison | Madison, WI | Govt | College Ready Program Grant | $340,777 |
| College Now Greater Cleveland Inc | Cleveland, OH | 501(c)(3) | College Ready Grant | $286,362 |
| Stark State College Foundation | North Canton, OH | Govt | College Ready Program; Dash Emergency Grant for Pell Grant Recipients | $283,560 |
| Loras College | Dubuque, IA | 501(c)(3) | Career Ready Internship Grant | $219,606 |
| Excelencia in Education | Washington, DC | Govt | Latino Student Success Funders Group | $209,283 |
| Ashland University | Ashland, OH | 501(c)(3) | Career Ready Internship Grant | $206,880 |
| Friends of Saint Paul College | St Paul, MN | Govt. | College Ready Grant | $201,316 |
| Metropolitan State University Foundation | Saint Paul, MN | Govt | Career Ready Internship Grant | $200,001 |
| Association of Public & Land-Grant Universities | Washington, DC | 501(c)(3) | Completion Grant Development & Implementation | $200,000 |
| UW-Oshkosh | Oshkosh, WI | Govt | Career Ready Grant | $195,195 |
| University of Texas at Austin | Austin, TX | 501(c)(3) | New Mathways Arkansas Scaling Project (Dana Center) | $188,654 |
| St Catherine University | Saint Paul, MN | 501(c)(3) | Career Ready Internship Grant | $188,508 |
| Viterbo University | La Crosse, WI | 501(c)(3) | Career Ready Internship Grant | $179,652 |
| Cardinal Stritch University | Milwaukee, WI | 501(c)(3) | Career Ready Internship Grants | $176,274 |
| Rand Corporation | Santa Monica, CA | 501 (c)(3) | Sponsor study to identify programs and models that excel in helping the incarcarated get a higher education. | $171,429 |
| United Community Center | Milwaukee, WI | 501(c)(3) | Abriendo Puertas Program Grant | $167,866 |
| Hiram College | Hiram, OH | Govt | Career Ready Internship Grant | $166,988 |
| John Carroll University | University Heights, OH | Govt | Career Ready Internship Grant | $159,517 |
| University of Minnesota | Minneapolis, MN | 501(c)(3) | Career Ready Internship Grant | $156,400 |
| Silver Lake College | Manitowoc, WI | 501(c)(3) | Career Ready Internship Grant | $155,713 |
| UW-Green Bay | Green Bay, WI | Govt | Career Ready Internship Grant | $147,426 |
| Carthage College | Kenosha, WI | 501(c)(3) | Career Ready Internship Grant | $145,155 |
| Tiffin University | Tiffin, OH | 501(c)(3) | Career Ready Internship Grant | $143,210 |
| Marquette University | Milwaukee, WI | 501(c)(3) | Career Ready Internship Grant | $139,855 |
| Trustees of Hamline Univ of Minnesota | Saint Paul, MN | 501(c)(3) | Career Ready Internship Grant | $132,095 |
| University of Northwestern-St Paul | St Paul, MN | 501(c)(3) | Career Ready Internship Grant | $131,788 |
| Ohio University | Athens, OH | Govt | Career Ready Internship Grant | $131,614 |
| Lakeland University | Plymouth, WI | Govt | Career Ready Internship Program | $127,340 |
| Northstar Education Services LLC | Madison, WI | Llc-disregarded | GradReady Grant | $126,480 |
| University of Findlay | Findlay, OH | Govt | Career Ready Internship Grant | $125,508 |
| Civic Nation | Washington, DC | 501(c)(3) | College Promise Campaign Grant; Promise Net Fall Conference | $125,000 |
| Marietta College | Marietta, OH | 501(c)(3) | Career Ready Internship Grant | $123,716 |
| Alverno College | Milwaukee, WI | 501(c)(3) | College Ready Programs | $120,129 |
| UW-Eau Claire | Eau Claire, WI | Govt | Career Ready Internship Grant | $114,975 |
| Madison Metropolitan School District | Madison, WI | 501(c)(3) | Unite for Our Communities Campaign; Summer Melt Intervention Grant | $108,003 |
| Operation Fresh Start Inc | Madison, WI | Govt | Building Futures Campaign | $100,000 |
| UW-Superior | Madison, WI | Govt | Career Ready Internship Program | $98,315 |
| Simpson College | Indianola, IA | 501(c)(3) | Career Ready Internship Grant | $97,926 |
| Augsburg College | Minneapolis, MN | 501(c)(3) | Career Ready Internship Grant | $97,418 |
| UW-Stevens Point | Stevens Point, WI | Govt | Career Ready Internship Grant | $92,438 |
| Denison University | Granville, OH | 501(c)(3) | Career Ready Internship Grant | $87,375 |
| Great Lakes Educational Loan Services Inc | Madison, WI | Govt | Grad Ready Grant | $76,995 |
| Heidelberg University | Tiffin, OH | 501(c)(3) | Career Ready Internship Program | $73,138 |
| Ohio Association of Community Colleges | Columbus, OH | Govt | Student Success Leadership Institute Expansion | $72,435 |
| William Penn University | Oskaloosa, IA | 501(c)(3) | Career Ready Internship Program | $68,250 |
| Association of American Colleges & Universities | Washington, DC | 501(c)(3) | Community of Practice Convening Grant | $50,000 |
| Bottom Line | Boston, MA | 501(c)(3) | Low income, first-generation student college grants | $50,000 |
| Milwaukee Public Schools Foundation Inc | Milwaukee, WI | Govt | TEAM Up College Access Centers | $50,000 |
| Madison Area Tech College Foundation Inc | Madison, WI | 501(c)(3) | Dash Emergency Grant for Pell Grant Recipients | $46,700 |
| Defiance College | Defiance, OH | Govt | Career Ready Internship Program | $41,922 |
| One City Early Learning Centers Inc | Madison, WI | 501(c)(3) | Preschool Enrollment Program | $40,800 |
| OM Tiffany Elementary School | Aberdeen, SD | 501(c)(3) | Unite for Our Communities Campaign | $39,456 |
| Lorain County Community College | Elyria, OH | 501(c)(3) | Dash Emergency Grant for Pell Grant Recipients | $39,300 |
| Madison Area Technical College | Madison, WI | Govt | Dash Emergency Grant for Pell Grant Recipients | $39,300 |
| Grantmakers for Education | Portland, OR | 501(c)(3) | Support Postsecondary Access & Attainment Impact Group; Conference Sponsorship | $38,400 |
| Hawkeye Community College Foundation | Waterloo, IA | 501(c)(3) | Dash Emergency Grant for Pell Grant Recipients | $29,500 |
| Iowa Western Community College | Council Bluffs, IA | 501(c)(3) | Dash Emergency Grant for Pell Grant Recipients | $29,500 |
| Northeast Wisconsin Technical Colllege Educational | Green Bay, WI | 501(c)(3) | Dash Emergency Grant for Pell Grant Recipients | $29,500 |
| Rochester Community & Tech College | St Paul, MN | 501(c)(3) | Dash Emergency Grant for Pell Grant Recipients | $29,500 |
| Waukesha County Technical College | Pewaukee, WI | 501(c)(3) | Dash Emergency Grant for Pell Grant Recipients | $29,500 |
| Normandale Community College Foundation | Bloomington, MN | Govt | Dash Emergency Grant for Pell Grant Recipients | $29,498 |
| Clarke State Community College Foundation | Springfield, OH | 501(c)(3) | Dash Emergency Grant for Pell Grant Recipients | $26,642 |
| Competitive Wisconsin Foundation Inc | Madison, WI | 501(c)(3) | Start-up costs for Blue Ribbon Commission on Wisconsins Workforce | $25,000 |
| Wisconsin Tech College System Foundation Inc | Madison, WI | Govt | Grant to support apprenticeship program | $25,000 |
| Hennepin Tech College Foundation | Brooklyn Park, MN | Govt | Dash Emergency Grant for Pell Grant Recipients | $24,500 |
| National College Access Network | Washington, DC | 501(c)(3) | National Conference Sponsorship Grant; Sponsor other Memberships | $23,240 |
| Chippewa Valley Tech College Foundation Inc | Eau Claire, WI | 501(c)(3) | Dash Emergency Grant for Pell Grant Receipients | $22,373 |
| Chippewa Valley Technical College | Eau Claire, WI | 501(c)(3) | Staff training grant | $21,750 |
| Blackhawk Tech College Foundation Inc | Janesville, WI | 501(c)(3) | Dash Emergency Grant Program for Pell Grant Recipients | $21,700 |
| Wisconsin School Counselor Assoc | Madison, WI | 501(c)(3) | Support for Counselor Training | $21,250 |
| Central Lakes College Foundation | Brainerd, MN | Govt | Dash Emergency Grant for Pell Grant Recipients | $19,700 |
| Central Ohio Technical College | Newark, OH | 501(c)(3) | Dash Emergency Grant for Pell Grant Recipients | $19,700 |
| Lakeland Community College | Kirtland, OH | 501(c)(3) | Dash Emergency Grant for Pell Grant Recipients | $19,700 |
| Mid-State Technical College Foundation Inc | Wisconsin Rapids, WI | 501(c)(3) | Dash Emergency Grant for Pell Grant Recipients | $19,700 |
| Pine Technical & Community College | Pine City, MN | 501 (c)(3) | Dash Emergency Grant for Pell Grant Recipients | $19,700 |
| South Central College North Mankato Campus Foundtn | North Mankato, MN | Govt | Dash Emergency Grant for Pell Grant Recipients | $19,700 |
| Southwest Wisconsin Technical College | Fennimore, WI | 501(c)(3) | Dash Emergency Grant for Pell Grant Recipients | $19,700 |
| Zane State College | Zanesville, OH | - | Dash Emergency Grant for Pell Grant Recipients | $18,631 |
| Northeast Iowa Community College | Calmar, IA | 501(c)(3) | Dash Emergency Grant for Pell Grant Recipients | $17,200 |
| Riverland Community College Foundation | Austin, MN | Govt | Dash Emergency Grant for Pell Grant Recipients | $17,048 |
| Northcentral Tech College Foundation Inc | Wausau, WI | Govt | Dash Emergency Grant for Pell Grant Recipients | $17,028 |
| North Central State College | Mansfield, OH | 501(c)(3) | Dash Emergency Grant for Pell Grant Recipients | $16,840 |
| Stevens Point Area Public School District | Stevens Point, WI | 501(c)(3) | Summer Melt Intervention | $16,351 |
| Vermilion Community College Foundation Inc | Clinton, IN | Govt | Dash Emergency Grant for Pell Grant Recipients | $15,000 |
| Wisconsin Indianhead Tech College Foundation Inc | Shell Lake, WI | 501(c)(3) | Dash Emergency Grant for Pell Grant Recipients | $14,700 |
| Corporation for Enterprise Development | Washington, DC | 501(c)(3) | Children's Savings Acct Design & Implementation in Milwaukee WI | $12,500 |
| United Way of Dane County | Madison, WI | 501(c)(3) | Sponsorship of Loaned Executive | $12,000 |
| School District of Janesville | Janesville, WI | 501(c)(3) | Summer Melt Intervention | $11,975 |
| Eastern Gateway Community College | Steubenville, OH | 501(c)(3) | Dash Emergency Grant for Pell Grant recipients | $11,554 |
| Moreland Arts & Health Sciences Magnet School | Mendota Heights, MN | C Corp | Unite for Our Communities Campaign | $10,373 |
| Council for Opportunity in Education | Washington, DC | 501(c)(3) | Sponsorship of Annual Conference | $10,000 |
| UW-Milwaukee School of Continuing Education | Milwaukee, WI | Govt | Grant for Staff Training | $10,000 |
| Wisconsin Philanthropy Network | Milwaukee, WI | 501(c)(6) | Network Membership | $8,750 |
| Northwest Iowa Community College | Sheldon, IA | Govt | Dash Emergency Grant for Pell Grant Recipients | $8,395 |
| Boscobel Area Schools | Boscobel, WI | 501(c)(3) | Unite for our Communities Campaign | $7,402 |
| Lakeshore Elementary School | Eau Claire, WI | 501(c)(3) | Unite for Our Communities Campaign | $6,852 |
| Jefferson School for the Arts | Stevens Point, WI | 501(c)(3) | Unite for our Communities Campaign | $6,057 |
| John Barry Elementary | Meriden, CT | 501(c)(3) | Unite for Our Communities Campaign | $5,820 |
| Minnesota Council on Foundations | Minneapolis, MN | Govt | Membership investment grant | $5,325 |
| Rainwater Elementary School | Carrollton, TX | 501(c)(3) | Unite for Our Communities Campaign | $5,038 |
Fundraising, Events, and Gaming
- Fundraising activities
- No
- Gaming activities
- No
- Professional fundraiser used
- No
Fundraising and Gaming Totals
| Line Item | Amount |
|---|---|
| Fundraising Direct Expenses | $0 |
| Fundraising Gross Income | $0 |
| Gaming Direct Expenses | $0 |
| Gaming Gross Income | $0 |
| 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 | $3,209,415 |
| Great Lakes Educational Loan Svcs | Contrl Ent/officer ovrlap | GLHEGC Bldg Rent to GLELSI | No | $424,140 |
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 | $15,395,504 |
| Intercompany & Misc. Payables | $3,478,846 |
| Compensation Plan Payable | $249,937 |
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 19 Availability of governing documents, conflict of interest policy, and financial statements to general public; federal law does not require that such documents be made publicly available. Documents are available upon specific request.”
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. Currently Great Lakes Higher Education Guarantee Corporation has no key employees to be considered for the compensation process.”
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
- % HOPE MERRY
- Phone
- 6082461744
- Address
- 2401 International Lane, Madison, WI 53704
Signing Officer
- Name
- Richard George
- Title
- President & CEO
- Phone
- 6082461408
- Signed
- 2017-08-25
Organization Details
- Principal Officer
- Richard D George
- Formed
- 1996
- Legal Domicile
- Wi
- Voting Board Members
- 7
- Independent Board Members
- 6
- Employees
- 204
- Volunteers
- 0
Preparer
- Firm
- Ernst & Young US Llp
- Address
- 155 N Wacker Drive, Chicago, IL 60606
- Preparer
- Jacob Zehnder
- Phone
- 3128792000
Supplemental Narrative
Additional Explanations
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.”
Form 990, Part XI, Question 9
“-200,019,552 - operating fund contribution transfer to great lakes higher education corporation (related company).”
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 1,929 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 | 7092107 |
| IRS990/AccountsPayableAccrExpnssGrp/EOYAmt | 0 | 11681684 |
| IRS990/AccountsReceivableGrp/BOYAmt | 0 | 5263534 |
| IRS990/AccountsReceivableGrp/EOYAmt | 0 | 7241859 |
| 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 | 39944 |
| IRS990/AdvertisingGrp/TotalAmt | 0 | 39944 |
| IRS990/AllOtherExpensesGrp/ProgramServicesAmt | 0 | 8655575 |
| IRS990/AllOtherExpensesGrp/TotalAmt | 0 | 8655575 |
| IRS990/AnnualDisclosureCoveredPrsnInd | 0 | true |
| IRS990/AuditCommitteeInd | 0 | true |
| IRS990/BackupWthldComplianceInd | 0 | true |
| IRS990/BenefitsToMembersGrp/TotalAmt | 0 | 0 |
| IRS990/BooksInCareOfDetail/PersonNm | 0 | HOPE MERRY |
| IRS990/BooksInCareOfDetail/PhoneNum | 0 | 6082461754 |
| 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 | 1545709 |
| IRS990/CashNonInterestBearingGrp/EOYAmt | 0 | 1301886 |
| IRS990/ChangeToOrgDocumentsInd | 0 | false |
| IRS990/CntrctRcvdGreaterThan100KCnt | 0 | 0 |
| IRS990/CollectionsOfArtInd | 0 | false |
| IRS990/CompCurrentOfcrDirectorsGrp/ManagementAndGeneralAmt | 0 | 203707 |
| IRS990/CompCurrentOfcrDirectorsGrp/ProgramServicesAmt | 0 | 944706 |
| IRS990/CompCurrentOfcrDirectorsGrp/TotalAmt | 0 | 1148413 |
| IRS990/CompDisqualPersonsGrp/TotalAmt | 0 | 0 |
| IRS990/CompensationFromOtherSrcsInd | 0 | false |
| IRS990/CompensationProcessCEOInd | 0 | false |
| IRS990/CompensationProcessOtherInd | 0 | true |
| IRS990/ConferencesMeetingsGrp/ProgramServicesAmt | 0 | 49963 |
| IRS990/ConferencesMeetingsGrp/TotalAmt | 0 | 49963 |
| IRS990/ConflictOfInterestPolicyInd | 0 | true |
| IRS990/ConservationEasementsInd | 0 | false |
| IRS990/ConsolidatedAuditFinclStmtInd | 0 | true |
| IRS990/ContractTerminationInd | 0 | X |
| IRS990/CostOfGoodsSoldAmt | 0 | 0 |
| IRS990/CreditCounselingInd | 0 | true |
| IRS990/CYBenefitsPaidToMembersAmt | 0 | 0 |
| IRS990/CYContributionsGrantsAmt | 0 | 225000 |
| IRS990/CYGrantsAndSimilarPaidAmt | 0 | 26123776 |
| IRS990/CYInvestmentIncomeAmt | 0 | 3248125 |
| IRS990/CYOtherExpensesAmt | 0 | 96166310 |
| IRS990/CYOtherRevenueAmt | 0 | 8688950 |
| IRS990/CYProgramServiceRevenueAmt | 0 | 222226492 |
| IRS990/CYRevenuesLessExpensesAmt | 0 | 100247082 |
| IRS990/CYSalariesCompEmpBnftPaidAmt | 0 | 11851399 |
| IRS990/CYTotalExpensesAmt | 0 | 134141485 |
| IRS990/CYTotalFundraisingExpenseAmt | 0 | 0 |
| IRS990/CYTotalProfFndrsngExpnsAmt | 0 | 0 |
| IRS990/CYTotalRevenueAmt | 0 | 234388567 |
| IRS990/DecisionsSubjectToApprovaInd | 0 | true |
| IRS990/DeductibleArtContributionInd | 0 | false |
| IRS990/DeductibleNonCashContriInd | 0 | false |
| IRS990/DeferredRevenueGrp/BOYAmt | 0 | 4488077 |
| IRS990/DeferredRevenueGrp/EOYAmt | 0 | 4561092 |
| IRS990/DelegationOfMgmtDutiesInd | 0 | false |
| IRS990/DepreciationDepletionGrp/ProgramServicesAmt | 0 | 17450 |
| IRS990/DepreciationDepletionGrp/TotalAmt | 0 | 17450 |
| 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 | 204 |
| IRS990/EmploymentTaxReturnsFiledInd | 0 | true |
| IRS990/EngagedInExcessBenefitTransInd | 0 | false |
| IRS990/EscrowAccountLiabilityGrp/BOYAmt | 0 | 0 |
| IRS990/EscrowAccountLiabilityGrp/EOYAmt | 0 | 0 |
| IRS990/ExpenseAmt | 0 | 130675387 |
| IRS990/FamilyOrBusinessRlnInd | 0 | false |
| IRS990/FederalGrantAuditPerformedInd | 0 | true |
| IRS990/FederalGrantAuditRequiredInd | 0 | true |
| IRS990/FeesForServicesAccountingGrp/ManagementAndGeneralAmt | 0 | 8225 |
| IRS990/FeesForServicesAccountingGrp/TotalAmt | 0 | 8225 |
| IRS990/FeesForServicesLegalGrp/ManagementAndGeneralAmt | 0 | 33072 |
| IRS990/FeesForServicesLegalGrp/TotalAmt | 0 | 33072 |
| IRS990/FeesForServicesLobbyingGrp/TotalAmt | 0 | 0 |
| IRS990/FeesForServicesManagementGrp/TotalAmt | 0 | 0 |
| IRS990/FeesForServicesOtherGrp/ProgramServicesAmt | 0 | 190929 |
| IRS990/FeesForServicesOtherGrp/TotalAmt | 0 | 190929 |
| 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 | 0.0 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt | 3 | 0.0 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt | 4 | 2.0 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt | 5 | 59.0 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt | 6 | 2.0 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt | 7 | 0.0 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt | 8 | 0.0 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt | 9 | 1.0 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt | 10 | 49.0 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt | 11 | 0.0 |
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| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt | 14 | 0.0 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt | 15 | 0.0 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt | 16 | 0.0 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 0 | 1.0 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 1 | 1.0 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 2 | 3.0 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 3 | 3.0 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 4 | 1.0 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 5 | 1.0 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 6 | 1.0 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 7 | 50.0 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 8 | 50.0 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 9 | 49.0 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 10 | 1.0 |
| 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/AverageHoursPerWeekRt | 15 | 45.0 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 16 | 45.0 |
| IRS990/Form990PartVIISectionAGrp/HighestCompensatedEmployeeInd | 0 | X |
| IRS990/Form990PartVIISectionAGrp/HighestCompensatedEmployeeInd | 1 | X |
| IRS990/Form990PartVIISectionAGrp/HighestCompensatedEmployeeInd | 2 | X |
| IRS990/Form990PartVIISectionAGrp/HighestCompensatedEmployeeInd | 3 | X |
| IRS990/Form990PartVIISectionAGrp/HighestCompensatedEmployeeInd | 4 | X |
| IRS990/Form990PartVIISectionAGrp/HighestCompensatedEmployeeInd | 5 | 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 |
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| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 8 | 46785 |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 9 | 62056 |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 10 | 60776 |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 11 | 36018 |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 12 | 44711 |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 13 | 24308 |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 14 | 28262 |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 15 | 13257 |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 16 | 21076 |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 0 | Emerson L Brumback 1 |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 1 | David J Hanson 14 |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 2 | Thomas A Scarlett 1 |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 3 | Cynthia Walsh 1 |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 4 | Richard A Weiss 1 |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 5 | Richard D George 23 |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 6 | Mary Burke 1 |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 7 | Amy Kobishop 3 |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 8 | Beth Erickson 3 |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 9 | Jacqueline Fairbairn 3 |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 10 | Rebecca Rapp 3 |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 11 | Ellen Welke |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 12 | JASON E RASMUSEN |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 13 | BENJAMIN P DOBNER |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 14 | Kira Cortese |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 15 | Marcia Hoffman |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 16 | Kristi Myers |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 0 | 8450 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 1 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 2 | 16900 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 3 | 20700 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 4 | 6900 |
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| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 7 | 265931 |
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| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 2 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 3 | 0 |
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| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 6 | 11266 |
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| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 15 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 16 | 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 | Chairman/Pres/Ceo/Treasurer |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 6 | Director |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 7 | VP - Community Investments |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 8 | VP - Repayment Solutions |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 9 | VP - Policy/Regul Compliance |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 10 | Gen. Counsel & Asst Secretary |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 11 | Director - Default Collections |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 12 | DIRECTOR - STRAT COMMUNICATION |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 13 | DIRECTOR - COMM INVESTMENTS |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 14 | Creative Director |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 15 | Sr Business Systems Analyst |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 16 | Systems Integration Analyst |
| IRS990/Form990ProvidedToGvrnBodyInd | 0 | true |
| IRS990/FormationYr | 0 | 1996 |
| IRS990/FormerOfcrEmployeesListedInd | 0 | false |
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| IRS990/FSAuditedInd | 0 | true |
| IRS990/FundraisingActivitiesInd | 0 | false |
| IRS990/FundraisingDirectExpensesAmt | 0 | 0 |
| IRS990/FundraisingGrossIncomeAmt | 0 | 0 |
| IRS990/GainOrLossGrp/OtherAmt | 0 | -526 |
| IRS990/GamingActivitiesInd | 0 | false |
| IRS990/GamingDirectExpensesAmt | 0 | 0 |
| IRS990/GamingGrossIncomeAmt | 0 | 0 |
| IRS990/GoverningBodyVotingMembersCnt | 0 | 7 |
| IRS990/GovernmentGrantsAmt | 0 | 225000 |
| IRS990/GrantAmt | 0 | 26123776 |
| IRS990/GrantsPayableGrp/BOYAmt | 0 | 0 |
| IRS990/GrantsPayableGrp/EOYAmt | 0 | 0 |
| IRS990/GrantsToDomesticIndividualsGrp/ProgramServicesAmt | 0 | 6073935 |
| IRS990/GrantsToDomesticIndividualsGrp/TotalAmt | 0 | 6073935 |
| IRS990/GrantsToDomesticOrgsGrp/ProgramServicesAmt | 0 | 20049841 |
| IRS990/GrantsToDomesticOrgsGrp/TotalAmt | 0 | 20049841 |
| IRS990/GrantsToIndividualsInd | 0 | true |
| IRS990/GrantsToOrganizationsInd | 0 | true |
| IRS990/GrantToRelatedPersonInd | 0 | false |
| IRS990/GrossAmountSalesAssetsGrp/OtherAmt | 0 | 0 |
| IRS990/GrossReceiptsAmt | 0 | 234389093 |
| IRS990/GrossSalesOfInventoryAmt | 0 | 0 |
| IRS990/GroupReturnForAffiliatesInd | 0 | false |
| IRS990/IncludeFIN48FootnoteInd | 0 | false |
| IRS990/IncmFromInvestBondProceedsGrp/TotalRevenueColumnAmt | 0 | 0 |
| IRS990/IndependentAuditFinclStmtInd | 0 | false |
| IRS990/IndependentVotingMemberCnt | 0 | 6 |
| IRS990/IndivRcvdGreaterThan100KCnt | 0 | 17 |
| IRS990/IndoorTanningServicesInd | 0 | false |
| IRS990/InfoInScheduleOPartIIIInd | 0 | X |
| IRS990/InfoInScheduleOPartIXInd | 0 | X |
| IRS990/InfoInScheduleOPartVIIInd | 0 | X |
| IRS990/InfoInScheduleOPartVIInd | 0 | X |
| IRS990/InfoInScheduleOPartXIInd | 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 | 3248651 |
| IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt | 0 | 3248651 |
| 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 | 0 |
| IRS990/InvestmentsPubTradedSecGrp/EOYAmt | 0 | 169797351 |
| IRS990/IRPDocumentCnt | 0 | 124621 |
| IRS990/IRPDocumentW2GCnt | 0 | 0 |
| IRS990/LandBldgEquipAccumDeprecAmt | 0 | 342262 |
| IRS990/LandBldgEquipBasisNetGrp/BOYAmt | 0 | 130298 |
| IRS990/LandBldgEquipBasisNetGrp/EOYAmt | 0 | 103169 |
| IRS990/LandBldgEquipCostOrOtherBssAmt | 0 | 445431 |
| IRS990/LegalDomicileStateCd | 0 | WI |
| IRS990/LessCostOthBasisSalesExpnssGrp/OtherAmt | 0 | 526 |
| 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 | 636469482 |
| IRS990/NetAssetsOrFundBalancesEOYAmt | 0 | 536070130 |
| IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt | 0 | -526 |
| IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt | 0 | -526 |
| IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt | 0 | 0 |
| IRS990/NetIncomeFromGamingGrp/TotalRevenueColumnAmt | 0 | 0 |
| IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt | 0 | 0 |
| IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt | 0 | 0 |
| IRS990/NetUnrelatedBusTxblIncmAmt | 0 | 0 |
| IRS990/NetUnrlzdGainsLossesInvstAmt | 0 | -626882 |
| IRS990/NondeductibleContributionsInd | 0 | false |
| IRS990/OccupancyGrp/ProgramServicesAmt | 0 | 420302 |
| IRS990/OccupancyGrp/TotalAmt | 0 | 420302 |
| IRS990/OfficeExpensesGrp/ProgramServicesAmt | 0 | 1079497 |
| IRS990/OfficeExpensesGrp/TotalAmt | 0 | 1079497 |
| IRS990/OfficerMailingAddressInd | 0 | false |
| IRS990/OperateHospitalInd | 0 | false |
| IRS990/Organization501c3Ind | 0 | X |
| IRS990/OrganizationFollowsSFAS117Ind | 0 | X |
| IRS990/OtherAssetsTotalGrp/BOYAmt | 0 | 8837697 |
| IRS990/OtherAssetsTotalGrp/EOYAmt | 0 | 14211476 |
| IRS990/OtherChangesInNetAssetsAmt | 0 | -200019552 |
| IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt | 0 | 50663 |
| IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt | 0 | 1384844 |
| IRS990/OtherEmployeeBenefitsGrp/TotalAmt | 0 | 1435507 |
| 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 | 2848310 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 0 | 284155 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 1 | 38478504 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 2 | 15287927 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 3 | 28601622 |
| IRS990/OtherExpensesGrp/TotalAmt | 0 | 284155 |
| IRS990/OtherExpensesGrp/TotalAmt | 1 | 38478504 |
| IRS990/OtherExpensesGrp/TotalAmt | 2 | 18136237 |
| IRS990/OtherExpensesGrp/TotalAmt | 3 | 28601622 |
| IRS990/OtherLiabilitiesGrp/BOYAmt | 0 | 22277318 |
| IRS990/OtherLiabilitiesGrp/EOYAmt | 0 | 19124287 |
| IRS990/OtherRevenueMiscGrp/BusinessCd | 0 | 900099 |
| IRS990/OtherRevenueMiscGrp/BusinessCd | 1 | 900099 |
| IRS990/OtherRevenueMiscGrp/Desc | 0 | ALL OTHER REVENUE |
| IRS990/OtherRevenueMiscGrp/Desc | 1 | GLHEGC/MDHE CONTRACT |
| IRS990/OtherRevenueMiscGrp/ExclusionAmt | 0 | 40956 |
| IRS990/OtherRevenueMiscGrp/ExclusionAmt | 1 | 8647994 |
| IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt | 0 | 40956 |
| IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt | 1 | 8647994 |
| IRS990/OtherRevenueTotalAmt | 0 | 8688950 |
| IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt | 0 | 266597 |
| IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt | 0 | 7669317 |
| IRS990/OtherSalariesAndWagesGrp/TotalAmt | 0 | 7935914 |
| IRS990/OthNotesLoansReceivableNetGrp/BOYAmt | 0 | 0 |
| IRS990/OthNotesLoansReceivableNetGrp/EOYAmt | 0 | 0 |
| IRS990/PartialLiquidationInd | 0 | true |
| IRS990/PaymentsToAffiliatesGrp/TotalAmt | 0 | 0 |
| IRS990/PayPremiumsPrsnlBnftCntrctInd | 0 | false |
| IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt | 0 | 18759 |
| IRS990/PayrollTaxesGrp/ProgramServicesAmt | 0 | 550375 |
| IRS990/PayrollTaxesGrp/TotalAmt | 0 | 569134 |
| IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt | 0 | 28424 |
| IRS990/PensionPlanContributionsGrp/ProgramServicesAmt | 0 | 734007 |
| IRS990/PensionPlanContributionsGrp/TotalAmt | 0 | 762431 |
| 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 | 1111515 |
| IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt | 0 | 849332 |
| 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/Desc | 0 | COLLECTIONS & REHABILITATIONS |
| IRS990/ProgramServiceRevenueGrp/Desc | 1 | ACCOUNT MAINTENANCE FEES |
| IRS990/ProgramServiceRevenueGrp/Desc | 2 | DEFAULT AVERSION FEES |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 0 | 198933235 |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 1 | 17359369 |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 2 | 5933888 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 0 | 198933235 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 1 | 17359369 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 2 | 5933888 |
| IRS990/ProhibitedTaxShelterTransInd | 0 | false |
| IRS990/PYBenefitsPaidToMembersAmt | 0 | 0 |
| IRS990/PYContributionsGrantsAmt | 0 | 225000 |
| IRS990/PYExcessBenefitTransInd | 0 | false |
| IRS990/PYGrantsAndSimilarPaidAmt | 0 | 21829150 |
| IRS990/PYInvestmentIncomeAmt | 0 | -1863348 |
Document Assets
No mirrored PDF or thumbnail assets are attached yet.
Filings
Displayed year
2016 • Form 990Detailed filing. Detailed filing data is available for this year.
- Assets
- $571,437,193
- Liabilities
- $35,367,063
- Net assets
- $536,070,130
- Revenue
- $234,388,567
- Expenses
- $134,141,485
- Net income
- $100,247,082