New Hampshire Higher Education: Form 990, tax year 2019
View the entire original 990 at ProPublica ↗
- Organization
- New Hampshire Higher Education (EIN 02-6007687)
- Tax period
- 2019-10-01 to 2020-09-30
- Filed
- 2021-02-14
- IRS object ID
- 202100459349300400
- Schema version
- 2019v5.2
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2021-02-14T08:24:20-06:00 | ReturnTs |
| Tax Period End | 2020-09-30 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 010494526 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Baker Newman & Noyes | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO Box 507 | AddressLine1Txt |
| City | Portland | CityNm |
| State Abbreviation | ME | StateAbbreviationCd |
| ZIP | 04112 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2019-10-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 026007687 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | New Hampshire Higher Education | BusinessNameLine1Txt |
| Business Name Line2 | Assistance Foundation | BusinessNameLine2Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | NEWH | BusinessNameControlTxt |
| Phone | 6032256612 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 4 Barrell Court PO Box 877 | AddressLine1Txt |
| City | Concord | CityNm |
| State Abbreviation | NH | StateAbbreviationCd |
| ZIP | 033020877 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | Christiana Thornton | PersonNm |
| Person Title | President & CEO | PersonTitleTxt |
| Phone | 6032256612 | PhoneNum |
| Signature | 2021-02-10 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | Nicholas E Porto | PreparerPersonNm |
| PTIN | P01310283 | PTIN |
| Phone | 2078792100 | PhoneNum |
| Preparation | 2021-02-10 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2019 | TaxYr |
| Build TS | 2022-09-23 18:48:47Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | Christiana Thornton | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 4 Barrell Court PO Box 877 | AddressLine1Txt |
| City | Concord | CityNm |
| State Abbreviation | NH | StateAbbreviationCd |
| ZIP | 033020877 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $5,670,970 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | www.nhheaf.org | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1962 | FormationYr |
| Legal Domicile State | NH | LegalDomicileStateCd |
| Activity Or Mission | Student loan guarantor | ActivityOrMissionDesc |
| Voting Members Governing Body | 6 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 6 | VotingMembersIndependentCnt |
| Total Employee | 0 | TotalEmployeeCnt |
| Total Volunteers | 6 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $1,148,202 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $1,401,885 | CYProgramServiceRevenueAmt |
| PY Investment Income | $631,438 | PYInvestmentIncomeAmt |
| CY Investment Income | $1,018,574 | CYInvestmentIncomeAmt |
| PY Other Revenue | $1,612 | PYOtherRevenueAmt |
| CY Other Revenue | $992 | CYOtherRevenueAmt |
| PY Total Revenue | $1,781,252 | PYTotalRevenueAmt |
| CY Total Revenue | $2,421,451 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $358,700 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $0 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $0 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $1,435,712 | PYOtherExpensesAmt |
| CY Other Expenses | $1,568,614 | CYOtherExpensesAmt |
| PY Total Expenses | $1,435,712 | PYTotalExpensesAmt |
| CY Total Expenses | $1,927,314 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $345,540 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $494,137 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $26,317,500 | TotalAssetsBOYAmt |
| Total Assets EOY | $27,465,523 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $10,927,610 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $11,407,503 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $15,389,890 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $16,058,020 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | Student loan guarantor | MissionDesc |
| Significant New Program Srvc | Yes (1) | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $1,585,624 | ExpenseAmt |
| Grant | $358,700 | GrantAmt |
| Revenue | $1,402,877 | RevenueAmt |
| Desc | Administrating agent and guarantor in New Hampshire for the Federal Family Education Loan Program, which provides long-term, low interest educational loans by financial institutions to students attending college or technical schools. | Desc |
| Total Program Service Expenses | $1,585,624 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (1) | DescribedInSection501c3Ind |
| Schedule B Required | 0 | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Lobbying Activities | Yes (1) | LobbyingActivitiesInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | 0 | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | 0 | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (1) | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | Yes (1) | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | 0 | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | 0 | PYExcessBenefitTransInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | 0 | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 646 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 0 | EmployeeCnt |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | 0 | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | 0 | PayPremiumsPrsnlBnftCntrctInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 6 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 6 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | Yes (1) | DelegationOfMgmtDutiesInd |
| Change To Org Documents | Yes (1) | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (1) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (1) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | Yes (1) | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | 0 | CompensationProcessCEOInd |
| Compensation Process Other | 0 | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | NH | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Linda Crump | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 6032255867 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 4 Barrell Court | AddressLine1Txt |
| City | Concord | CityNm |
| State Abbreviation | NH | StateAbbreviationCd |
| ZIP | 033020877 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (12 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt | Former Ofcr Director TrusteeFormerOfcrDirectorTrusteeInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd |
|---|---|---|---|---|---|---|---|---|
| Rene A Drouin | ||||||||
| Former President & CEO | 0.00 | 0.00 | Yes (X) | $0 | $1,197,220 | $24,895 | ||
| Christiana Thornton | ||||||||
| President & CEO | 10.00 | 30.00 | $0 | $392,578 | $32,650 | Yes (X) | Yes (X) | |
| John Gennetti | ||||||||
| Trustee (end 4/20) | 0.20 | 0.00 | $0 | $0 | $0 | Yes (X) | ||
| Susan Huard | ||||||||
| Trustee | 0.20 | 0.20 | $0 | $0 | $0 | Yes (X) | ||
| Linda Normandin | ||||||||
| Trustee | 0.20 | 0.00 | $0 | $0 | $0 | Yes (X) | ||
| Deborah Scire | ||||||||
| Trustee (end 4/20) | 0.20 | 0.00 | $0 | $0 | $0 | Yes (X) | ||
| Rick Elwell | ||||||||
| Chair (begin 4/20) | 0.20 | 0.20 | $0 | $0 | $0 | Yes (X) | Yes (X) | |
| Michael DeBlasi | ||||||||
| Chair (end 4/20) | 0.20 | 0.00 | $0 | $0 | $0 | Yes (X) | Yes (X) | |
| Sandy Tracy | ||||||||
| Vice Chair & Secretary (begin 4/20) | 0.20 | 0.20 | $0 | $0 | $0 | Yes (X) | Yes (X) | |
| Todd Emmons | ||||||||
| Vice Chair (end 4/20) | 0.20 | 0.00 | $0 | $0 | $0 | Yes (X) | Yes (X) | |
| Carol Houle | ||||||||
| Treasurer | 0.20 | 0.00 | $0 | $0 | $0 | Yes (X) | Yes (X) | |
| David Bellman | ||||||||
| Treasurer & Secretary (end 4/20) | 0.20 | 0.00 | $0 | $0 | $0 | Yes (X) | Yes (X) | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $0 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $1,589,798 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $57,545 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 0 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | Yes (1) | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
| Cntrct Rcvd Greater Than100 K | 0 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp (4 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| Loan Rehabilitation Fees | 522291 | $640,060 | $640,060 |
| Consolidation Fees | 522291 | $304,250 | $304,250 |
| Government Fees & Contracts | 522291 | $287,591 | $287,591 |
| Loan Default Recovery | 522291 | $169,984 | $169,984 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $1,401,885 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $535,403 | TotalRevenueColumnAmt |
| Exclusion | $535,403 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $3,732,690 | SecuritiesAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $3,249,519 | SecuritiesAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $483,171 | SecuritiesAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $483,171 | TotalRevenueColumnAmt |
| Exclusion | $483,171 | ExclusionAmt |
Miscellaneous Revenue MiscellaneousRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $992 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $992 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $992 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $2,421,451 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $1,402,877 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $1,018,574 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part IX | Yes (X) | InfoInScheduleOPartIXInd |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $358,700 | TotalAmt |
| Program Services | $358,700 | ProgramServicesAmt |
Fees For Services Management FeesForServicesManagementGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,061,500 | TotalAmt |
| Program Services | $885,317 | ProgramServicesAmt |
| Management And General | $176,183 | ManagementAndGeneralAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $67,104 | TotalAmt |
| Management And General | $67,104 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $55,100 | TotalAmt |
| Management And General | $55,100 | ManagementAndGeneralAmt |
Fees For Services Lobbying FeesForServicesLobbyingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $35,883 | TotalAmt |
| Program Services | $35,883 | ProgramServicesAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $25,503 | TotalAmt |
| Management And General | $25,503 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $299,407 | TotalAmt |
| Program Services | $299,407 | ProgramServicesAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,233 | TotalAmt |
| Program Services | $5,233 | ProgramServicesAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,084 | TotalAmt |
| Program Services | $1,084 | ProgramServicesAmt |
Other Expenses OtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | Subscriptions & Dues | Desc |
| Total | $17,800 | TotalAmt |
| Management And General | $17,800 | ManagementAndGeneralAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,927,314 | TotalAmt |
| Program Services | $1,585,624 | ProgramServicesAmt |
| Management And General | $341,690 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,617,882 | BOYAmt |
| EOY | $3,231,738 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $285,913 | BOYAmt |
| EOY | $58,697 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $23,365,120 | BOYAmt |
| EOY | $24,128,179 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $48,585 | BOYAmt |
| EOY | $46,909 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $26,317,500 | BOYAmt |
| EOY | $27,465,523 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $66,528 | BOYAmt |
| EOY | $299,684 | EOYAmt |
Grants Payable GrantsPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $10,085,082 | BOYAmt |
| EOY | $10,394,819 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $776,000 | BOYAmt |
| EOY | $713,000 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $10,927,610 | BOYAmt |
| EOY | $11,407,503 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $15,389,890 | BOYAmt |
| EOY | $16,058,020 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $15,389,890 | BOYAmt |
| EOY | $16,058,020 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $26,317,500 | BOYAmt |
| EOY | $27,465,523 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | $494,137 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $173,993 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $0 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Consol And Sep Basis Fincl Stmt | Yes (X) | ConsolAndSepBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Publicly Supported Org509a2 | Yes (X) | PubliclySupportedOrg509a2Ind |
Gross Receipts Admissions GrossReceiptsAdmissionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $2,623,067 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $1,913,826 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $1,627,836 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $1,149,814 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $1,402,877 | CurrentTaxYearAmt |
| Total | $8,717,420 | TotalAmt |
Total509 Total509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $2,623,067 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $1,913,826 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $1,627,836 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $1,149,814 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $1,402,877 | CurrentTaxYearAmt |
| Total | $8,717,420 | TotalAmt |
Amounts Rcvd Dsqlfy Person AmountsRcvdDsqlfyPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Substantial Contributors Amt SubstantialContributorsAmtGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Subst And Dsqlfy Prsns Tot SubstAndDsqlfyPrsnsTotGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Support Total509 | $8,717,420 | PublicSupportTotal509Amt |
Gross Investment Income509 GrossInvestmentIncome509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $381,629 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $366,067 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $462,855 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $595,564 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $535,403 | CurrentTaxYearAmt |
| Total | $2,341,518 | TotalAmt |
Investment Income And UBTI InvestmentIncomeAndUBTIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $381,629 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $366,067 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $462,855 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $595,564 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $535,403 | CurrentTaxYearAmt |
| Total | $2,341,518 | TotalAmt |
Total Support Calendar Year TotalSupportCalendarYearGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $3,004,696 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $2,279,893 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $2,090,691 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $1,745,378 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $1,938,280 | CurrentTaxYearAmt |
| Total | $11,058,938 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Support CY509 | 0.78830 | PublicSupportCY509Pct |
| Public Support PY509 | 0.81720 | PublicSupportPY509Pct |
| Investment Income CY | 0.21170 | InvestmentIncomeCYPct |
| Investment Income PY | 0.18280 | InvestmentIncomePYPct |
| Thirty Thr Pct Suprt Tests CY509 | Yes (X) | ThirtyThrPctSuprtTestsCY509Ind |
Schedule C IRS990ScheduleC
| Field | Value | IRS element (for citing) |
|---|---|---|
| Volunteers | 0 | VolunteersInd |
| Paid Staff Or Management | 0 | PaidStaffOrManagementInd |
| Media Advertisements | 0 | MediaAdvertisementsInd |
| Mailings Members | 0 | MailingsMembersInd |
| Publications Or Broadcast | 0 | PublicationsOrBroadcastInd |
| Grants Other Organizations | Yes (1) | GrantsOtherOrganizationsInd |
| Grants Other Organizations | $35,883 | GrantsOtherOrganizationsAmt |
| Direct Contact Legislators | 0 | DirectContactLegislatorsInd |
| Rallies Demonstrations | 0 | RalliesDemonstrationsInd |
| Other Activities | 0 | OtherActivitiesInd |
| Total Lobbying Expenditures | $35,883 | TotalLobbyingExpendituresAmt |
| Not Described Section501c3 | 0 | NotDescribedSection501c3Ind |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Part II-B, Line 1: | FormAndLineReferenceDesc |
| Explanation | The Organization paid $32,550 to Thompson & Coburn, a K Street Washington, DC law firm and $3,333 to Gallagher, Callahan & Gartrell, a Concord, NH law firm, in part for services related to lobbying activities and information on pending legislation that may impact the Organization. | ExplanationTxt |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $0 | TotalBookValueLandBuildingsAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $2,569,941 | TotalRevEtcAuditedFinclStmtAmt |
| Net Unrealized Gains Invst | $173,993 | NetUnrealizedGainsInvstAmt |
| Revenue Not Reported | $173,993 | RevenueNotReportedAmt |
| Revenue Subtotal | $2,395,948 | RevenueSubtotalAmt |
| Investment Expenses Not Incld | $25,503 | InvestmentExpensesNotIncldAmt |
| Revenue Not Reported Fincl Stmt | $25,503 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $2,421,451 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $1,901,811 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $1,901,811 | ExpensesSubtotalAmt |
| Investment Expenses Not Incld2 | $25,503 | InvestmentExpensesNotIncld2Amt |
| Expenses Not Rpt Fincl Stmt | $25,503 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $1,927,314 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Part X, Line 2: | FormAndLineReferenceDesc |
| Explanation | The Foundation has received a determination letter from the Internal Revenue Service stating that it qualifies for tax-exempt status under Section 501(c)(3) of the Internal Revenue Code. Accordingly, no provision for income taxes has been included in the financial statements. Tax-exempt organizations could be required to record an obligation for income taxes as the result of a tax position they have historically taken on various tax exposure items including unrelated business income or tax status. Under guidance issued by the Financial Accounting Standards Board (FASB), assets and liabilities are established for uncertain tax positions taken or positions expected to be taken in income tax returns when such positions are judged to not meet the "more-likely-than-not" threshold, based upon the technical merits of the position. Estimated interest and penalties, if applicable, related to uncertain tax positions are included as a component of income tax expense. The Foundation has evaluated the positions taken on its filed tax returns. The Foundation has concluded no uncertain income tax positions exist at September 30, 2020 or 2019. | ExplanationTxt |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable (18 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Recipient EINRecipientEIN | IRC SectionIRCSectionDesc | Cash GrantCashGrantAmt | Purpose Of GrantPurposeOfGrantTxt |
|---|---|---|---|---|---|---|---|
| Colby-Sawyer College | |||||||
| 541 Main Street | New London | NH | 03257 | 020222120 | 501(c)(3) | $1,250 | Tuition assistance for students affected by COVID-19 |
| Dartmouth College | |||||||
| 6024 McNutt Hall | Hanover | NH | 03755 | 364767215 | 501(c)(3) | $5,000 | Tuition assistance for students affected by COVID-19 |
| Franklin Pierce University | |||||||
| 40 University Drive | Rindge | NH | 03461 | 020263136 | 501(c)(3) | $17,500 | Tuition assistance for students affected by COVID-19 |
| Granite State College | |||||||
| 25 Hall Street | Concord | NH | 03301 | Government | $12,500 | Tuition assistance for students affected by COVID-19 | |
| Great Bay Community College | |||||||
| 320 Corporate Drive | Portsmouth | NH | 03801 | Government | $19,500 | Tuition assistance for students affected by COVID-19 | |
| Keene State College | |||||||
| 229 Main Street | Keene | NH | 03435 | Government | $31,250 | Tuition assistance for students affected by COVID-19 | |
| Lakes Region Community College | |||||||
| 379 Belmont Road | Laconia | NH | 03246 | Government | $17,550 | Tuition assistance for students affected by COVID-19 | |
| Manchester Community College | |||||||
| 1066 Front Street | Manchester | NH | 03102 | Government | $19,500 | Tuition assistance for students affected by COVID-19 | |
| Nashua Community College | |||||||
| 505 Amherst Street | Nashua | NH | 03063 | Government | $19,500 | Tuition assistance for students affected by COVID-19 | |
| New England College | |||||||
| 98 Bridge Street | Henniker | NH | 03242 | 020223955 | 501(c)(3) | $6,250 | Tuition assistance for students affected by COVID-19 |
| New Hampshire Technical Institute | |||||||
| 31 College Drive | Concord | NH | 03301 | Government | $19,500 | Tuition assistance for students affected by COVID-19 | |
| Plymouth State University | |||||||
| 17 High Street | Plymouth | NH | 03264 | Government | $31,250 | Tuition assistance for students affected by COVID-19 | |
| River Valley Community College | |||||||
| 1 College Place | Claremont | NH | 03743 | Government | $19,500 | Tuition assistance for students affected by COVID-19 | |
| Rivier University | |||||||
| 420 South Maine Street | Nashua | NH | 03060 | 020223339 | 501(c)(3) | $13,750 | Tuition assistance for students affected by COVID-19 |
| Saint Anselm College | |||||||
| 100 Saint Anselm Drive | Manchester | NH | 03102 | 020222182 | 501(c)(3) | $17,500 | Tuition assistance for students affected by COVID-19 |
| Southern New Hampshire University | |||||||
| 2500 North River Road | Manchester | NH | 03106 | 020274509 | 501(c)(3) | $31,250 | Tuition assistance for students affected by COVID-19 |
| University of New Hampshire | |||||||
| 105 Main Street | Durham | NH | 03824 | Government | $62,500 | Tuition assistance for students affected by COVID-19 | |
| White Mountain Community College | |||||||
| 2020 Riverside Drive | Berlin | NH | 03570 | Government | $13,650 | Tuition assistance for students affected by COVID-19 | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 18 | Total501c3OrgCnt |
| Total Other Org | 0 | TotalOtherOrgCnt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Part I, Line 2: | FormAndLineReferenceDesc |
| Explanation | The filing organization awarded COVID-19 related emergency grants to Title IV institutions in the State of New Hampshire during the filing period. All funds were used to support mini-grants providing tuition assistance for eligible students identified by the recipient organizations according to standardized guidelines. All recipient insitutions were required to submit a report outlining student eligibility and how funds were used. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | Yes (1) | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | 0 | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | 0 | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | 0 | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | 0 | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | 0 | AnyNonFixedPaymentsInd |
| Initial Contract Exception | 0 | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (2 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Rene A Drouin | ||||||||||||||
| Former President & CEO | $0 | $74,279 | $0 | $0 | $0 | $1,122,941 | $0 | $1,688 | $0 | $23,207 | $0 | $1,222,115 | $0 | $109,747 |
| Christiana Thornton | ||||||||||||||
| President & CEO | $0 | $302,308 | $0 | $90,000 | $0 | $270 | $0 | $1,431 | $0 | $31,219 | $0 | $425,228 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Part I, Line 3 | During calendar year 2019, the Organization's President & CEO was compensated through a related organization, Granite State Management & Resources; that organization used a compensation committee, Form 990 of other organizations, a compensation study, and board/compensation committee approval to establish the President & CEO's compensation. |
| Part I, Line 4b | New Hampshire Higher Education Loan Corporation maintained a 457(f) nonqualified deferred compensation plan for the benefit of Rene Drouin, who retired from the organization in October 2018. A final payout of $507,058 was made to Mr. Drouin in calendar year 2019. An amount of $109,747 has been reported in Schedule J, Part II, Column F to report amounts contributed by the Organization into Mr. Drouin's plan that were reported on previous Form 990 filings. Additionally, Mr. Drouin received a payment of $29,939 of accrued vacation time and $482,060 of accrued sick time earned over his tenure with the Organization. This amount has been reported in Schedule J, Part II, Column B(iii). |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (11 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Form 990, Part III, line 2 | The filing organization awarded COVID-19 related emergency grants to Title IV institutions in the State of New Hampshire during the filing period. All funds were used to support mini-grants providing tuition assistance for eligible students identified by the recipient organizations according to standardized guidelines. All recipient insitutions were required to submit a report outlining student eligibility and how funds were used. |
| Form 990, Part VI, Section A, line 3 | The organization contracted with Granite State Management & Resources and New Hampshire Higher Education Loan Corporation, related entities, for its management services. |
| Form 990, Part VI, Section A, line 4 | As of March 31, 2020, the New Hampshire Higher Education Assistance Foundation (NHHEAF) became a subsidiary of a related organization, the New Hampshire Higher Education Loan Corporation (NHHELCO). As part of this reorganization, NHHEAF made the following changes to the their bylaws: 1. NHHELCO became the sole member of NHHEAF with all powers of the corporation. Under the previous bylaws the Board Of Trustees of NHHEAF exercised all control and authority. 2. The number of Trustees was increased from a minimum of three (3) to not less than five (5) and no more than seven (7). The sole member will nominate and elect two (2) trustees, the Corporation's President/CEO will serve as an ex officio trustee with full voting rights, and the remaining trustees will be nominated by the Governance Committee of the Board of Trustees. 3. The previous bylaws gave the Governer of New Hampshire an ex officio seat on the Board. The revised bylaws removed this provision. 4. The previous bylaws limited trustees to four (4) three-year terms. The revised bylaws limit trustees to no more than three (3) three-year terms. 5. The previous bylaws required the board to meet semi-annually. The revised bylaws require meetings every two (2) months. 6. The previous bylaws gave officers three-year terms and limited officers to no more than two (2) three-year terms. The revised bylaws require officers to be elected annually, and limit them to no more than three (3) consecutive one year terms. |
| Form 990, Part VI, Section A, line 6 | New Hampshire Higher Education Loan Corporation, a New Hampshire nonprofit voluntary corporation, is the sole corporate member of the Organization. |
| Form 990, Part VI, Section A, line 7a | The sole member will nominate and elect two (2) trustees of the Organization. |
| Form 990, Part VI, Section A, line 7b | The Member will have the power to take the following actions with respect to the Organization: (a) Establish and require adherence by the Organization to an integrated strategic plan and objectives for the Member, the Organization, and any other applicable subsidiaries; (b) Adopt, monitor and enforce financial principles, guidelines and performance goals with which the Organization will comply; (c) Mandate participation by the Organization in any program or initiative that will benefit the Organization, the Member, and any applicable subsidiaries, such as (but not limited to) compliance programs, information technology integration, group purchasing and shared corporate services; (d) Request funding, whether in the form of a loan or capital contribution, from unrestricted, available assets of the Organization to further the integrated strategic objectives of the Member and its subsidiaries, which request will be considered promptly by the Organization's Board of Trustees; and, (e) Following consultation with the Organization's Chair of the Board, hire, evaluate, compensate and/or terminate the President/Chief Executive Officer and Chief Financial Officer of the Organization, which individuals may also serve as president/chief executive officer and chief financial officer, respectively, of the Member and/or any of its other subsidiaries. Additionally, each of the following actions voted upon by the Organization's Board of Trustees must be approved by the Member before it becomes effective: (a) Election or removal of a Trustee of the Organization; (b) Final adoption of, and any approval of a material deviation from, the annual and any revised operating and capital budgets of the Organization; (c) Any single incurrence, or cumulative incurrences in any twelve (12) month period, of unbudgeted indebtedness by the Organization in excess of Fifty Thousand Dollars ($50,000.00); (d) Sale, lease or exchange outside the ordinary course of business of any material portion of the assets of, or the statutory merger, consolidation, corporate division, dissolution, or liquidation of, the Organization; (e) Appointment of a firm of independent public accountants to conduct an independent audit of the Organization's financial statements or a special project which materially impacts assets, revenues or operations; (f) The participation by the Organization in a key strategic relationship; (g) Elimination or addition of any material service or program by the Organization; and, (h) The amendment of the Articles of Agreement, Bylaws or other governing documents of the Organization where such proposed amendment would (i) impact the powers reserved to the Member in these Bylaws, (ii) reasonably be expected to have any material strategic, competitive or financial impact on the Member or on the Member and its subsidiaries collectively, or (iii) impact the obligations of the Organization and/or the Member or any subsidiary under any agreement between or among them. |
| Form 990, Part VI, Section B, line 11b | A copy of the form 990 was emailed to the board before filing. Board members had the opportunity to review the form and ask questions or for clarifications. |
| Form 990, Part VI, Section B, line 12c | Any conflicts of interest revealed in the annual survey or at any time throughout the year are addressed promptly and appropriately. |
| Form 990, Part VI, Section B, line 15 | An on-going internal review of salaries is conducted by Human Resources Management of NHHELCO using salary surveys from local and national resources to compare salaries for positions in the organization to local market data. The compensation structure is adjusted based on the results of these reviews. An independent consultant completed the Affirmative Action Plan, which included a review of salary and hiring practices to ensure nondiscrimination. The Organization's internal review of market data for staff and executive salaries includes executive salaries for organizations of comparable size, structure, geographical location, operations and asset composition to NHHELCO. Based on this comparative market data, the Chairman of the Board of NHHELCO and the Chairman of its Compensation Committee review the proposed CEO and other senior officer compensation packages for reasonableness and fairness. In August 2020, an independent consultant was retained by the Board to provide an Executive Compensation Analysis Report. The purpose of the report was to ensure the Board met its fiduciary responsibilities as it relates to determining a reasonable market rate of compensation for the position of President and CEO. The report utilized multiple data sources to ensure a robust market assessment and to establish a rebuttable presumption of reasonableness for each member of the authorized body. |
| Form 990, Part VI, Section C, line 19 | The Organization will provide its governing documents, conflict of interest policy, and financial statements available to the public upon request. |
| Form 990, Part IX, line 11g | Collection Agency Fees: Program service expenses 299,407. Management and general expenses 0. Fundraising expenses 0. Total expenses 299,407. |
Schedule R IRS990ScheduleR
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp (3 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Exempt Code SectionExemptCodeSectionTxt | Public Charity StatusPublicCharityStatusTxt | Direct Controlling NADirectControllingNACd | Controlled OrganizationControlledOrganizationInd | Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Granite State Management & Resources | |||||||||||
| 4 Barrell Court | Concord | NH | 03302 | 020404239 | Administrator/servicer of student loans | NH | 501(c)(3) | Line 10 | N/A | 0 | |
| New Hampshire Higher Education Loan Corporation | |||||||||||
| 4 Barrell Court | Concord | NH | 03302 | 020368776 | Financial assistance to eligible borrowers | NH | 501(c)(3) | Line 10 | N/A | 0 | |
| NHHEAF Network Educational Foundation | |||||||||||
| 4 Barrell Court | Concord | NH | 03302 | 300289044 | Grants and scholarships | NH | 501(c)(3) | PF | 0 | New Hampshire Higher Education Loan Corporation | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | 0 | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | 0 | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | 0 | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | 0 | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | 0 | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | 0 | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | 0 | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | 0 | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | Yes (1) | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | 0 | SharingOfFacilitiesInd |
| Paid Employees Sharing | 0 | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | 0 | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |