2022-02-21T15:32:11-06:00 2021-09-30 390859910 BAKER TILLY US LLP 225 S 6TH ST 2300 MINNEAPOLIS MN 55402 990 2020-10-01 411961427 NORTHSTAR EDUCATION FINANCE INC NORT 4024582370 930 BLUE GENTIAN ROAD NO 100 EAGAN MN 55121 CHARLES M OSBORNE CHIEF FINANCIAL OFFICER 4024582370 2022-02-21 1 CHARLES OSBORNE XXX-XX-XXXX LAWRENCE H MOHR CPA P00447603 6128764500 2022-02-21 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z TAIGE P THORNTON 930 BLUE GENTIAN ROAD NO 100 EAGAN MN 55121 37569277 0 X WWW.NORTHSTAR.ORG X 2000 DE TO FOSTER, AID, ENCOURAGE AND ASSIST THE PURSUIT OF HIGHER EDUCATION. 10 7 0 0 0 0 0 0 61828549 37214145 1000588 355132 0 0 62829137 37569277 3794767 4929600 0 0 332873 349702 0 0 0 57492072 35033474 61619712 40312776 1209425 -2743499 1832708530 1589111391 1662873024 1422019384 169835506 167092007 X TO FOSTER, AID, ENCOURAGE AND ASSIST THE PURSUIT OF HIGHER EDUCATION. IN SUPPORTING THIS MISSION, NEF'S PRIMARY CHARITABLE GOALS ARE TO (A) CONTINUE SERVICING ITS OUTSTANDING PORTFOLIO OF STUDENT LOANS; (B) CONTINUE TO PROVIDE EDUCATION AND ASSISTANCE TO STUDENT BORROWERS TO ENABLE THEM TO SUCCESSFULLY REPAY THEIR LOANS; (C) MANAGE ITS FINANCINGS AS NECESSARY TO MAXIMIZE THE T.H.E. BONUS CREDITED TO ELIGIBLE STUDENT BORROWER ACCOUNTS; AND (D) MAKE GRANTS TO OTHER ORGANIZATIONS IN FURTHERANCE OF ITS EDUCATIONAL MISSION. 0 0 36817430 37214145 MANAGE PORTFOLIO OF OUTSTANDING FFELP (APPROX. 94%) AND PRIVATE (APPROX. 6%) STUDENT LOANS WITH OUTSTANDING BALANCES TOTALING APPROX. $1.4 BILLION AS OF 9/30/2021. TO THE BEST OF THE KNOWLEDGE AND BELIEF OF THE ORGANIZATION'S OFFICERS, THE BENEFITS AND INTEREST RATES THAT IT HAS PROVIDED TO STUDENT BORROWERS ARE SUBSTANTIALLY MORE FAVORABLE TO STUDENT BORROWERS THAN THE BENEFITS AND INTEREST RATES PROVIDED BY FOR-PROFIT LENDERS. DURING FISCAL YEARS 2021 AND 2020, RESPECTIVELY, THE ORGANIZATION MADE T.H.E. REPAYMENT BONUS DISTRIBUTIONS (INTEREST REBATES WHICH ARE PROCESSED AS CREDITS TO ELIGIBLE BORROWER ACCOUNTS) OF APPROXIMATELY $5.6 MILLION AND $10.0 MILLION, RESPECTIVELY. 4929600 PROVIDE GRANTS TO OTHER ORGANIZATIONS TO ENHANCE POST-SECONDARY EDUCATION OPPORTUNITIES FOR MINNESOTA STUDENTS BY RELIEVING SOME OF THEIR FINANCIAL BURDEN THROUGH SCHOLARSHIPS AND/OR ASSISTANCE WITH THEIR POST-SECONDARY READINESS PREPARATION. 36817430 1 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 18 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 10 7 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MN X KATE SEIFERT 4024582370 930 BLUE GENTIAN ROAD SUITE 100 EAGAN MN 55121 CHARLES OSBORNE CHIEF FINANCIAL OFFICER 15.00 X 97066 0 0 TAIGE THORNTON PRESIDENT 15.00 X X 50000 0 0 CLYDE NELSON TREASURER 1.00 X X 28000 0 0 ANITA PAMPUSCH BOARD CHAIR - OUTGOING 1.00 X X 28000 0 0 JOHN EMERICK BOARD CHAIR 1.00 X X 18000 0 0 DAVID REILING BOARD MEMBER 1.00 X 18000 0 0 RICHARD NIGON BOARD MEMBER 1.00 X 18000 0 0 MARY ROTHCHILD DIRECTOR 1.00 X 18000 0 0 TIM PENNY BOARD MEMBER 1.00 X 17000 0 0 ELIZABETH ANNE CARRIER DORAN BOARD MEMBER 1.00 X 17000 0 0 RICHARD HARRIS BOARD MEMBER 1.00 X 17000 0 0 SARAH DUNIWAY SECRETARY 3.00 X 0 0 0 326066 0 0 0 0 0 0 NELNET INC 121 SOUTH 13TH ST WF SUITE 400 LINCOLN NE 68508 MANAGEMENT & ADMIN SERVICES 3066636 NELNET SERVICING LLC 121 SOUTH 13TH ST WF SUITE 400 LINCOLN NE 68508 STUDENT LOAN SERVICING 1152795 WINDHAM PROFESSIONALS INC 384 MAIN STREET SALEM NH 03079 PRIVATE LOAN COLLECTION SERVICES 429820 RBC CAPITAL MARKETS LLC 200 VERSEY STREET 8TH FLOOR NEW YORK NY 10281 BROKER/DEALER FEES 281122 JONES DAY 90 SOUTH SEVENTH STREET SUIT 4950 MINNEAPOLIS MN 55402 LEGAL FEES 185549 6 STUDENT LOAN INTEREST INCOME 525990 37214145 37214145 37214145 355132 355132 37569277 37214145 0 355132 4929600 4929600 349702 349702 3529381 1111845 2417536 309290 96396 212894 103016 103016 774136 461362 312774 13528 13528 81 81 16064721 16064721 1276614 1276614 79582 79582 LOAN CONSOLIDATION FEES 13081258 13081258 DEBT FINANCING FEES 541510 541510 OTHER MISCELLANEOUS EXP 6233 6233 STUDENT LOAN DEFAULT AN -745876 -745876 40312776 36817430 3495346 0 7855718 4834107 119241744 116222695 2213976 2447921 55642 36232 1703341450 1465570436 1832708530 1589111391 3388573 2714389 1656113995 1415391037 3370456 3913958 1662873024 1422019384 X 169835506 167092007 169835506 167092007 1832708530 1589111391 -2743499 0 X 0 1 X 1 0 X 81342289 81354929 90443751 61828549 37214145 352183663 81342289 81354929 90443751 61828549 37214145 352183663 0 0 0 352183663 704157 1479866 1793896 1000588 355132 5333639 704157 1479866 1793896 1000588 355132 5333639 82046446 82834795 92237647 62829137 37569277 357517302 0.98510 0.98530 0.01490 0.01470 X 0 STUDENT LOANS 1465570436 C 1465570436 ACCRUED BORROWER INCENTIVE PAYMENTS 1143005 GOVERNMENT PAYABLE 2770953 3913958 1 WALLIN EDUCATION PARTNERS 5200 WILSON ROAD SUITE 209 MINNEAPOLIS MN 55424 208505156 501(C)(3) 3539000 TO PROVIDE SCHOLARSHIPS TO STUDENTS AND SUPPORT WALLIN'S EXISTING SCHOLAR SUPPORT SERVICES THAT BENEFITS ALL SCHOLARS. COLLEGE POSSIBLE 540 FAIRVIEW AVENUE NORTH SUITE 20 SAINT PAUL MN 55104 411968798 501(C)(3) 970000 TO PROVIDE AFTER-SCHOOL PROGRAMMING FOR HIGH-SCHOOL STUDENTS TO BETTER PREPARE THEM FOR ADMISSION TO COLLEGE. ADDITIONALLY, PROVIDE COACHES TO COLLEGE STUDENTS USING A STRUCTURED CURRICULUM FOCUSED ON THE ACADEMIC, FINANCIAL AND CULTURAL BARRIERS THAT HAVE BEEN IDENTIFIED AS BARRIERS TO COLLEGE SUCCESS FOR LOW-INCOME STUDENTS, WITH THE GOAL OF HELPING THEM SUCCEED AND GRADUATE FROM COLLEGE. CRISTO REY JESUIT HIGH SCHOOL 2924 4TH AVENUE SOUTH MINNEAPOLIS MN 55408 204548714 501(C)(3) 220600 TO SUPPORT THE ORGANIZATION'S COLLEGE SUCCESS PROGRAM, WHICH COMBINES COLLEGE COUNSELING WITH POST-GRADUATION SUPPORT, SERVING AS A KEY RESOURCE FOR STUDENTS TO UNDERSTAND OPPORTUNITIES AVAILABLE TO THEM AFTER GRADUATION FROM HIGH SCHOOL. PAGE EDUCATION FOUNDATION PO BOX 581254 MINNEAPOLIS MN 55458 363605013 501(C)(3) 200000 TO SUPPORT THE ORGANIZATION'S SCHOLARSHIP PROGRAM, WHICH PROVIDES SCHOLARSHIPS TARGETED AT STUDENTS FROM UNDERSERVED COMMUNITIES, COMBINING MENTORING AND COMMUNITY SERVICE WITH ITS SCHOLARSHIP PROGRAM TO SUPPORT AND ENCOURAGE ITS STUDENTS. 4 PART I, LINE 2: THE COMPANY'S BOARD OF DIRECTORS DESIGNATED GRANTS PROGRAM COMMITTEE REQUIRES PERIODIC REPORTS AND DATA FROM GRANTEES AND ADDITIONALLY CONDUCTS ON-SITE VISITS. FORM 990, PART VI, SECTION A, LINE 3 PURSUANT TO THE AMENDED AND RESTATED SUB-MASTER SERVICING AND ADMINISTRATIVE AGREEMENT ("SUB-MSA") DATED DECEMBER 7, 2018 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. FORM 990, PART VI, SECTION B, LINE 11B THE ORGANIZATION'S FORM 990 IS REVIEWED BY ITS OFFICERS AND OUTSIDE LEGAL COUNSEL PRIOR TO FILING, AND THE DOCUMENT IS DISTRIBUTED TO THE FULL BOARD OF DIRECTORS PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE POLICY IS MONITORED AND DISCUSSED ANNUALLY AT ONE OF THE QUARTERLY BOARD MEETINGS. FORM 990, PART VI, SECTION B, LINE 15 IN 2021, 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. FORM 990, PART VI, SECTION C, LINE 19 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. NORTHSTAR EDUCATION FUNDING I LLC 930 BLUE GENTIAN ROAD SUITE 100 EAGAN MN 55121 FINANCING HIGHER EDUCATION DE 0 0 NORTHSTAR EDUCATION FINANCE INC