Civic Intelligence

Northstar Guarantee Inc

990 • Fiscal year 2013 • EIN 41-1689095

Jan 01, 2013 to Dec 31, 2013 • Filed on Aug 26, 2014

2401 International LaneSuiteMadison, WI 53704

(608) 246-1410

Siviq Scores

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

Liabilities / Assets

89th percentile

0.95x

Higher debt load relative to assets than 89% of similar nonprofits.

2013 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2013

Liabilities / Revenue

99th percentile

38.00x

Higher debt load relative to revenue than 99% of similar nonprofits.

2013 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2013

Net Margin

93rd percentile

55%

Higher net margin than 93% of similar nonprofits.

2013 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2013

Top Officer Pay

62nd percentile

$696,225

Higher top officer pay than 62% of similar nonprofits.

Top officer pay equals 22.3% of source-year revenue.

2013 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2013

Asset Growth

28th percentile

1.1%

Faster asset growth than 28% of similar nonprofits.

2013 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2012 to 2013

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2013

Assets

Up

$125,673,610

Up $1,390,057 (+1.1%) from 2012

Net Assets

Up

$6,877,239

Up $1,714,537 (+33%) from 2012

Liabilities

Down

$118,796,371

Down $324,480 (-0.3%) from 2012

Revenue

$3,126,453

No earlier filing loaded for comparison.

Expenses

Down

$1,411,916

Down $212,690 (-13%) from 2012

Net Income

$1,714,537

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

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

$150M$100M$50M$0Assets 2010: $121,052,068Liabilities 2010: $119,521,714Net Assets 2010: $1,530,3542010Assets 2011: $122,228,143Liabilities 2011: $119,154,805Net Assets 2011: $3,073,3382011Assets 2012: $124,283,553Liabilities 2012: $119,120,851Net Assets 2012: $5,162,7022012Assets 2013: $125,673,610Liabilities 2013: $118,796,371Net Assets 2013: $6,877,2392013Assets 2014: $127,112,346Liabilities 2014: $118,743,845Net Assets 2014: $8,368,5012014Assets 2015: $128,514,880Liabilities 2015: $118,698,713Net Assets 2015: $9,816,1672015Assets 2016: $130,316,793Liabilities 2016: $118,769,931Net Assets 2016: $11,546,8622016Assets 2017: $132,432,017Liabilities 2017: $118,651,384Net Assets 2017: $13,780,6332017Assets 2018: $136,990,886Liabilities 2018: $118,526,739Net Assets 2018: $18,464,1472018Assets 2019: $5,031,694Liabilities 2019: $18,690Net Assets 2019: $5,013,0042019Assets 2020: $5,032,273Liabilities 2020: $18,285Net Assets 2020: $5,013,9882020Assets 2021: $0Liabilities 2021: $0Net Assets 2021: $02021

Highlighted filing

2013

Assets$125,673,610
Liabilities$118,796,371
Net Assets$6,877,239

Operations Trend

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

$6.0M$4.0M$2.0M$0-$2.0MExpenses 2010: $1,350,6682010Expenses 2011: $1,517,6242011Expenses 2012: $1,624,6062012Revenue 2013: $3,126,453Expenses 2013: $1,411,916Net Income 2013: $1,714,5372013Revenue 2014: $2,706,503Expenses 2014: $1,215,241Net Income 2014: $1,491,2622014Revenue 2015: $2,404,566Expenses 2015: $939,060Net Income 2015: $1,465,5062015Revenue 2016: $2,997,220Expenses 2016: $1,284,365Net Income 2016: $1,712,8552016Revenue 2017: $3,336,977Expenses 2017: $912,483Net Income 2017: $2,424,4942017Revenue 2018: $5,398,692Expenses 2018: $725,037Net Income 2018: $4,673,6552018Revenue 2019: $1,053,350Expenses 2019: $72,874Net Income 2019: $980,4762019Revenue 2020: $23,168Expenses 2020: $56,046Net Income 2020: -$32,8782020Revenue 2021: $7,417Expenses 2021: $72,526Net Income 2021: -$65,1092021

Highlighted filing

2013

Revenue$3,126,453
Expenses$1,411,916
Net Income$1,714,537
Jump To
Filing Snapshot
Filing Period
Jan 1, 2013 to Dec 31, 2013
Signed
Aug 26, 2014
Return Version
2013v3.1
Gross Receipts
$3,126,453
Mission and Program Overview

Mission

Northstar guarantee inc.'s mission is to foster, aid, encourage and assist in the pursuit of higher education. In particular, the corporation facilitates the broader availability of educational loans to students by, but not limited to, acting as a lender or an eligible lender (as provided under the federal higher education act of 1965, as amended) for such loans. This mission statement has been reviewed, acknowledged and informally approved by the board.

Northstar's exempt lending role is making and/or holding student loans to postsecondary education students and their parents in accordance with federal family education loan program

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$22,882,000$38,278,000▲ $15,396,000
Cash and Non-Interest-Bearing Accounts$1,006$1,617▲ $611
Accounts Receivable$0$0→ $0
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
Investments in Publicly Traded Securities$0$0→ $0
Land, Buildings, and Equipment, Net$0--
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$124,283,553$125,673,610▲ $1,390,057
Other Assets Total$101,400,547$87,393,993▼ $14,006,554
Liabilities
Other Liabilities$119,115,541$118,790,771▼ $324,770
Accounts Payable and Accrued Expenses$5,310$5,600▲ $290
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$119,120,851$118,796,371▼ $324,480
Net Assets / Fund Balance
Unrestricted Net Assets$5,162,702$6,877,239▲ $1,714,537
Permanently Rstr Net Assets$0$0→ $0
Temporarily Rstr Net Assets$0$0→ $0
Total Net Assets Fund Balance$5,162,702$6,877,239▲ $1,714,537
Total Liabilities and Net Assets / Fund Balance$124,283,553$125,673,610▲ $1,390,057

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$540,172--
Compensation and Service Providers

Employees

NameTitleBaseOtherTotal
Alex J Pollock 1Director$9,100$9,100$18,200
Janice Hesalroad 1Director$6,067$12,133$18,200
Richard A Weiss 1Director$6,067$12,133$18,200
Linda Hoeschler 1Director$7,450$7,450$14,900
Joan Prince 1Director$4,132$4,133$8,265

Board Members and Trustees

NameTitle
Richard D George 23Chairman/PRES/CEO/Treasurer
David J Hanson 14Director/Secretary
Nancy Seifert 3CFO/Asst Secretary

Highest Paid Contractors

ContractorServicesLocationCompensation
None---
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$3,106,367
Investment Income
$20,086
Other Revenue
$0
Change in Net Assets
$1,714,537
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,379,100
Salaries, Compensation, and Employee Benefits$32,816
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Expenses$212,492$39,000-$212,492
Current Officers, Directors, Trustees, and Key Employees-$32,816-$32,816
Office Expenses$23,270--$23,270
Fees for Services Accounting-$5,190-$5,190
Travel-$5,138-$5,138
Fees for Services Legal-$4,967-$4,967
All Other Expenses-$25-$25
Total Functional Expenses$1,324,780$87,136$0$1,411,916
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Great Lakes Educational Loan SvcsContrl Ent/officer ovrlapServicing Fees Paid to GlelsiNo$212,345
Great Lakes Educational Loan SvcsContrl Ent/officer ovrlapIntercompany Reimb. to GlelsiNo$3,027

Loans and Receivables

Line ItemBeginningEndChange
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

LiabilityAmount
Lender Funding Contribution Tr$118,419,274
Interest Payable$284,332
Consolidated Loan Fee Payable$57,263
Servicing Fees Payable$15,966
Intercompany Payable$13,936
Governance and Compliance

Governance Checklist

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

Governance Explanations

Part VI, Question 6 and 7A

Great Lakes Higher Education Corporation, a nonprofit 501(c)(3) corporation, is the sole member of Northstar Guarantee Inc. and has the authority to appoint the Northstar Guarantee Inc. board.

Part VI, Question 7B

Great Lakes Higher Education Corporation, a nonprofit 501(c)(3) corporation, as sole member of Northstar Guarantee Inc., has the authority provided by Wis. Stats. Chapter 181 to approve certain actions related to merger, conversion, sale of assets and dissolution.

Part VI, Question 11B

On an annual basis, the Chairman of the Board, CEO, General Counsel, 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.

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. Availability of Governing Documents, Conflict of Interest Policy, and Financial Statements to General Public: PART VI, QUESTION 19 Federal tax law does not require that such documents be made publicly available. Documents are available upon specific request.

Part VII, Section A

(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 hour 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

EIN
41-1689095
In Care Of
% NANCY SEIFERT
Phone
6082461410

Signing Officer

Name
Richard D George
Title
President & CEO
Signed
2014-08-26

Organization Details

Principal Officer
Richard D George
Formed
1990
Legal Domicile
Mn
Voting Board Members
7
Independent Board Members
6
Employees
0

Preparer

Preparer
Jennifer L Lynch
Phone
3176817000
Supplemental Narrative

Financial Statement Notes

Schedule D, Part X

Other liabilities-$118,419,274 Lender Funding Contribution Transfer Northstar Guarantee Inc.'s exempt lending role was utilized beginning in December 2008 through the making and/or holding of student loans to postsecondary education students and to their parents in accordance with Federal Family Education Loan Program established by Title IV, Part B of the Federal Higher Education Act of 1965, as amended. The $118,419,274 represents the 2008-2010 Lender Funding Contribution Transfer from Great Lakes Higher Education Corporation (Related Entity).

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IRS990/MissionDesc0NORTHSTAR GUARANTEE INC.'S MISSION IS TO FOSTER, AID, ENCOURAGE AND ASSIST THE PURSUIT OF HIGHER EDUCATION. IN PARTICULAR, THE CORPORATION FACILITATES THE BROADER AVAILABILITY OF EDUCATIONAL LOANS TO STUDENTS BY, BUT NOT LIMITED TO, ACTING AS A LENDER OR AN ELIGIBLE LENDER (AS PROVIDED UNDER THE FEDERAL HIGHER EDUCATION ACT OF 1965, AS AMENDED) FOR SUCH LOANS. THIS MISSION STATEMENT HAS BEEN REVIEWED, ACKNOWLEDGED AND INFORMALLY APPROVED BY THE BOARD.
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IRS990/OtherAssetsTotalGrp/EOYAmt087393993
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IRS990/OtherExpensesGrp/Desc2CONSOLIDATED INT. REBATE FEE
IRS990/OtherExpensesGrp/Desc3SERVICING FEES
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt039000
IRS990/OtherExpensesGrp/ProgramServicesAmt0364949
IRS990/OtherExpensesGrp/ProgramServicesAmt1724069
IRS990/OtherExpensesGrp/ProgramServicesAmt2212492
IRS990/OtherExpensesGrp/TotalAmt039000
IRS990/OtherExpensesGrp/TotalAmt1364949
IRS990/OtherExpensesGrp/TotalAmt2724069
IRS990/OtherExpensesGrp/TotalAmt3212492
IRS990/OtherLiabilitiesGrp/BOYAmt0119115541
IRS990/OtherLiabilitiesGrp/EOYAmt0118790771
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IRS990/PrincipalOfficerNm0Richard D George
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IRS990/RevenueAmt03106367
IRS990/RoyaltiesGrp/TotalAmt00
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IRS990/SavingsAndTempCashInvstGrp/BOYAmt022882000
IRS990/SavingsAndTempCashInvstGrp/EOYAmt038278000
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IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt072210
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt03106367
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt014355747
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/TotalAmt00
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IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt072210
IRS990ScheduleA/InvestmentIncomeCYPct00.00500
IRS990ScheduleA/InvestmentIncomePYPct00.00461
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IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
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IRS990ScheduleA/Total509Grp/TotalAmt014355747
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IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt03060608
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IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt014427957
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IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt11738220
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt2540172
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0STUDENT LOANS RECEIVABLE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1INTEREST RECEIVABLE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2DUE FROM SERVICER
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt013936
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1118419274
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt257263
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt3284332
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt415966
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0INTERCOMPANY PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1LENDER FUNDING CONTRIBUTION TR
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2CONSOLIDATED LOAN FEE PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3INTEREST PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc4SERVICING FEES PAYABLE
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Other liabilities-$118,419,274 Lender Funding Contribution Transfer Northstar Guarantee Inc.'s exempt lending role was utilized beginning in December 2008 through the making and/or holding of student loans to postsecondary education students and to their parents in accordance with Federal Family Education Loan Program established by Title IV, Part B of the Federal Higher Education Act of 1965, as amended. The $118,419,274 represents the 2008-2010 Lender Funding Contribution Transfer from Great Lakes Higher Education Corporation (Related Entity).
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule D, Part X
IRS990ScheduleD/TotalBookValueOtherAssetsAmt087393993
IRS990ScheduleD/TotalLiabilityAmt0118790771
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt10

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