Northstar Education Finance Inc

“Business relationship between clyde nelson (board member) and mary rothchild (board member).”

“Pursuant to the amended and restated sub-master servicing and administrative agreement ("sub-msa") dated december 3, 2018 (and first amendment dated april 1, 2020) between northstar education finance, inc. ("nef") and nelnet servicing, llc ("nelnet"), nelnet is responsible for performing certain management and administrative functions on behalf of nef.”

“The form 990 was prepared by independent accountants for internal review. After being reviewed by the organization's officers and outside legal counsel, the return was then distributed to the full board of directors for review and approval prior to filing with the irs.”

“The policy is monitored and discussed annually at one of the quarterly board meetings. Any director, principal officer, or member of a committee with governing board delegated powers, who has a direct or indirect financial interest, as defined below, is an interested person. A person has a financial interest if the person has, directly or indirectly, through business, investment, or a family member: a. An ownership or investment interest in any entity (including any joint venture or similar arrangement) with which nef has a transaction or arrangement, b. A compensation arrangement with nef or with any entity or individual with which nef has a transaction or arrangement, c. A potential ownership or investment interest in, or compensation arrangement with, any entity or individual with which nef is negotiating a transaction or arrangement, or d. Serves as an officer or director any entity with which nef has a transaction or arrangement (regardless of whether the individual receives compensation from the entity). A financial interest is not necessarily a conflict of interest. An interested person who has a financial interest may have a conflict of interest only if the audit committee decides that a conflict of interest exists. In connection with any actual or possible conflict of interest, an interested person must disclose the existence of the financial interest and be given the opportunity to disclose all material facts to the nef audit committee. After disclosure of the financial interest and all material facts, and after any discussion with the interested person, he/she shall not participate in discussions with the audit committee while the determination of a conflict of interest is discussed and voted upon. An interested person who serves as an officer, director or employee of nelnet, inc. (or any of its subsidiaries including but not limited to nelnet servicing, llc)("nelnet"), which provides management services to nef pursuant to a sub-master and sub-administration agreement (the "nelnet agreement"), shall be considered to have a conflict of interest with respect to the following matters regarding nelnet: (a) review and approval of compensation or expense reimbursement under the nelnet agreement, (b) decisions whether to renew, terminate or amend the nelnet agreement, or (c) formal reviews of nelnet's performance under the nelnet agreement. Such interested persons shall not normally be considered to have a conflict of interest with respect to routine matters that come before the nef board or committee, even if such matters involve presentations by and consideration of, reports and information from, nelnet, unless the audit committee determines that a conflict of interest exists. An interested person may make a presentation at the board or committee meeting at which the transaction or arrangement is being considered, but after the presentation, he/she shall not participate during the discussion of, and the vote on, the transaction or arrangement involving the possible conflict of interest. The chairperson of the board or committee shall, if appropriate, appoint a disinterested person or committee to investigate alternatives to the proposed transaction or arrangement. After exercising due diligence, the board or committee shall determine whether nef can obtain with reasonable efforts a more advantageous transaction or arrangement from a person or entity that would not give rise to a conflict of interest. If a more advantageous transaction or arrangement is not reasonably possible under circumstances not producing a conflict of interest, the board or committee shall determine by a majority vote of the disinterested members of the committee whether the transaction or arrangement is in nef's best interest, for its own benefit, and whether it is fair and reasonable. In conformity with the above determination the board of directors of nef shall make its decision as to whether to enter into the transaction or arrangement.”

“In 2022, compensation for the organization's president and board of directors was approved by the board's independent compensation committee and was based on comparable market compensation data.”

“Audited financial statements are available on the organization's website at www.northstar.org. The organization does not make its governing documents or conflict of interest policy available unless required by law.”

“Impact from adoption of (asc) 326 -608,123.”