ASCENDIUM EDUCATION GROUP INC: Form 990, tax year 2017
View the entire original 990 at ProPublica ↗
- Organization
- ASCENDIUM EDUCATION GROUP INC (EIN 39-1090394)
- Tax period
- 2017-01-01 to 2017-12-31
- Filed
- 2018-11-14
- IRS object ID
- 201833189349311978
- Schema version
- 2017v2.3
- 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 | 2018-11-14T16:56:45-06:00 | ReturnTs |
| Tax Period End | 2017-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ERNST & YOUNG US LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 155 N Wacker Drive | AddressLine1Txt |
| City | Chicago | CityNm |
| State Abbreviation | IL | StateAbbreviationCd |
| ZIP | 60606 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2017-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 391090394 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | GREAT LAKES HIGHER EDUCATION CORPORATION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| In Care Of | % HOPE MERRY | InCareOfNm |
| Business Name Control | GREA | BusinessNameControlTxt |
| Phone | 6082461744 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2401 International Lane | AddressLine1Txt |
| City | Madison | CityNm |
| State Abbreviation | WI | StateAbbreviationCd |
| ZIP | 53704 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | RICHARD GEORGE | PersonNm |
| Person Title | President & CEO | PersonTitleTxt |
| Phone | 6082461408 | PhoneNum |
| Signature | 2018-11-14 | SignatureDt |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | Jacob Zehnder | PreparerPersonNm |
| PTIN | P01564049 | PTIN |
| Phone | 3128792000 | PhoneNum |
Filing Security Information FilingSecurityInformation
IP Address IPAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| I Pv4 Address | 164.57.159.254 | IPv4AddressTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Federal Original Submission Id | 36964520183185000066 | FederalOriginalSubmissionId |
| Federal Original Submission Id | 2018-11-14 | FederalOriginalSubmissionIdDt |
| Filing License Type | P | FilingLicenseTypeCd |
| At Submission Creation Device Id | E1B97F0B523BF91F5EE03E781B24D2D618402045 | AtSubmissionCreationDeviceId |
| At Submission Filing Device Id | 34163F381DEDE5EE0CABDD6E8F3BD042227F3C04 | AtSubmissionFilingDeviceId |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2017 | TaxYr |
| Build TS | 2019-02-21 02:37:17Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | RICHARD GEORGE | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2401 International Lane | AddressLine1Txt |
| City | Madison | CityNm |
| State Abbreviation | WI | StateAbbreviationCd |
| ZIP | 53704 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $6,217,019 | GrossReceiptsAmt |
| Group Return For Affiliates | false | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | www.mygreatlakes.org | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1967 | FormationYr |
| Legal Domicile State | WI | LegalDomicileStateCd |
| Activity Or Mission | SEE SCHEDULE O | ActivityOrMissionDesc |
| Voting Members Governing Body | 9 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 8 | VotingMembersIndependentCnt |
| Total Employee | 74 | TotalEmployeeCnt |
| Total Volunteers | 0 | 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 | $0 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $0 | CYProgramServiceRevenueAmt |
| PY Investment Income | $16,797,979 | PYInvestmentIncomeAmt |
| CY Investment Income | $6,216,686 | CYInvestmentIncomeAmt |
| PY Other Revenue | $0 | PYOtherRevenueAmt |
| CY Other Revenue | $0 | CYOtherRevenueAmt |
| PY Total Revenue | $16,797,979 | PYTotalRevenueAmt |
| CY Total Revenue | $6,216,686 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $6,794,200 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $7,332,186 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | -$5,786,433 | PYOtherExpensesAmt |
| CY Other Expenses | -$5,926,875 | CYOtherExpensesAmt |
| PY Total Expenses | $1,007,767 | PYTotalExpensesAmt |
| CY Total Expenses | $1,405,311 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $15,790,212 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $4,811,375 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $851,364,138 | TotalAssetsBOYAmt |
| Total Assets EOY | $894,746,030 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $568,778 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $67,157 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $850,795,360 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $894,678,873 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | GREAT LAKES HIGHER EDUCATION CORPORATION OPERATES FOR THE SUPPORT AND BENEFIT OF GREAT LAKES HIGHER EDUCATION GUARANTY CORPORATION, NORTHSTAR GUARANTEE INC., UNITED STUDENT AID FUNDS, INC. AND NORTHWEST EDUCATION LOAN ASSOCIATION. THIS MISSION STATEMENT HAS BEEN REVIEWED, ACKNOWLEDGED AND APPROVED BY THE BOARD. | MissionDesc |
| Significant New Program Srvc | Yes (true) | SignificantNewProgramSrvcInd |
| Significant Change | false | SignificantChangeInd |
| Expense | $24,000 | ExpenseAmt |
| Desc | GREAT LAKES HIGHER EDUCATION CORPORATION OPERATES FOR THE SUPPORT AND BENEFIT OF GREAT LAKES HIGHER EDUCATION GUARANTY CORPORATION (GLHEGC), NORTHSTAR GUARANTEE INC.(NORTHSTAR), UNITED STUDENT AID FUNDS, INC.(USAF) AND NORTHWEST EDUCATION LOAN ASSOCIATION (NELA). GLHEGC, Northstar, USAF, and NELA ensure enablement of access to and persistence in post-secondary education by providing philanthropic support and cost effective guaranty agency services and lower cost or otherwise unavailable funding for federally guaranteed loans to students and parents and/or alternative non-federally guaranteed loans. | Desc |
| Total Program Service Expenses | $24,000 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (true) | DescribedInSection501c3Ind |
| Schedule B Required | false | ScheduleBRequiredInd |
| Political Campaign Acty | false | PoliticalCampaignActyInd |
| Lobbying Activities | false | LobbyingActivitiesInd |
| Subject To Proxy Tax | false | SubjectToProxyTaxInd |
| Donor Advised Fund | false | DonorAdvisedFundInd |
| Conservation Easements | false | ConservationEasementsInd |
| Collections Of Art | false | CollectionsOfArtInd |
| Credit Counseling | false | CreditCounselingInd |
| Temp Or Permanent Endowments | false | TempOrPermanentEndowmentsInd |
| Report Land Building Equipment | false | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | Yes (true) | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | Yes (true) | ReportProgramRelatedInvstInd |
| Report Other Assets | Yes (true) | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (true) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | false | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | false | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (true) | ConsolidatedAuditFinclStmtInd |
| School Operating | false | SchoolOperatingInd |
| Foreign Office | false | ForeignOfficeInd |
| Foreign Activities | false | ForeignActivitiesInd |
| More Than5000 K To Org | false | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | false | MoreThan5000KToIndividualsInd |
| Professional Fundraising | false | ProfessionalFundraisingInd |
| Fundraising Activities | false | FundraisingActivitiesInd |
| Gaming Activities | false | GamingActivitiesInd |
| Operate Hospital | false | OperateHospitalInd |
| Grants To Organizations | false | GrantsToOrganizationsInd |
| Grants To Individuals | false | GrantsToIndividualsInd |
| Schedule J Required | Yes (true) | ScheduleJRequiredInd |
| Tax Exempt Bonds | false | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | false | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | false | PYExcessBenefitTransInd |
| Loan Outstanding | false | LoanOutstandingInd |
| Grant To Related Person | false | GrantToRelatedPersonInd |
| Business Rln With Org Mem | false | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | false | BusinessRlnWithFamMemInd |
| Business Rln With Officer Ent | Yes (true) | BusinessRlnWithOfficerEntInd |
| Deductible Non Cash Contri | false | DeductibleNonCashContriInd |
| Deductible Art Contribution | false | DeductibleArtContributionInd |
| Terminate Operations | false | TerminateOperationsInd |
| Partial Liquidation | false | PartialLiquidationInd |
| Disregarded Entity | false | DisregardedEntityInd |
| Related Entity | Yes (true) | RelatedEntityInd |
| Related Organization Ctrl Ent | Yes (true) | RelatedOrganizationCtrlEntInd |
| Transaction With Control Ent | Yes (true) | TransactionWithControlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | false | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | false | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (true) | ScheduleORequiredInd |
| IRP Document | 18 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Employee | 74 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (true) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | false | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | false | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | false | TaxablePartyNotificationInd |
| Nondeductible Contributions | false | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | false | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | false | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | false | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | false | PayPremiumsPrsnlBnftCntrctInd |
| Indoor Tanning Services | false | IndoorTanningServicesInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 9 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 8 | IndependentVotingMemberCnt |
| Family Or Business Rln | false | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | false | DelegationOfMgmtDutiesInd |
| Change To Org Documents | Yes (true) | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | false | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | false | MembersOrStockholdersInd |
| Election Of Board Members | false | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | false | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (true) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (true) | MinutesOfCommitteesInd |
| Officer Mailing Address | false | OfficerMailingAddressInd |
| Local Chapters | false | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (true) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (true) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (true) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (true) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (true) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (true) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (true) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (true) | CompensationProcessOtherInd |
| Investment In Joint Venture | false | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | HOPE MERRY | PersonNm |
| Phone | 6087332584 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2401 INTERNATIONAL LANE | AddressLine1Txt |
| City | MADISON | CityNm |
| State Abbreviation | WI | StateAbbreviationCd |
| ZIP | 53704 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part VII | Yes (X) | InfoInScheduleOPartVIIInd |
Form990 Part VII Section A Form990PartVIISectionAGrp (19 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | OfficerOfficerInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|---|
| Thomas J Boldt 1 | ||||||||
| Director | 3.0 | 0.0 | Yes (X) | $22,600 | $0 | $0 | ||
| Emerson L Brumback 1 | ||||||||
| Director | 1.0 | 2.0 | Yes (X) | $6,267 | $12,533 | $0 | ||
| David J Hanson 1 | ||||||||
| Director/Secretary | 1.0 | 4.0 | Yes (X) | $0 | $0 | $0 | ||
| Linda Hoeschler 1 | ||||||||
| Director | 1.0 | 2.0 | Yes (X) | $6,900 | $13,800 | $0 | ||
| Alex J Pollock 1 | ||||||||
| Director | 1.0 | 2.0 | Yes (X) | $6,267 | $12,533 | $0 | ||
| Joan Prince 1 | ||||||||
| Director | 1.0 | 2.0 | Yes (X) | $6,900 | $13,800 | $0 | ||
| Richard A Weiss 1 | ||||||||
| Director | 1.0 | 4.0 | Yes (X) | $4,900 | $19,600 | $0 | ||
| Richard D George 23 | ||||||||
| Chairman/Pres/CEO/Treas | 56.0 | 4.0 | Yes (X) | $1,012,027 | $0 | $57,931 | Yes (X) | |
| Mary Burke 1 | ||||||||
| Director | 1.0 | 4.0 | Yes (X) | $4,140 | $16,560 | $0 | ||
| Nancy Seifert 3 | ||||||||
| FORMER CFO | 55.0 | 0.0 | $302,267 | $0 | $23,771 | Yes (X) | ||
| Rebecca Rapp 3 | ||||||||
| General Counsel/Asst Secretary | 46.0 | 4.0 | $256,687 | $0 | $51,495 | Yes (X) | ||
| Dawn M Vogel 3 | ||||||||
| Director of Internal Audit | 50.0 | 0.0 | $193,992 | $0 | $48,190 | Yes (X) | ||
| Jacqueline Fairbairn 3 | ||||||||
| CMS Committee Chair | 1.0 | 49.0 | $0 | $261,822 | $69,815 | Yes (X) | ||
| Hope E Merry 3 | ||||||||
| CFO | 55.0 | 0.0 | $128,541 | $0 | $41,185 | Yes (X) | ||
| Jennifer M Krueger | ||||||||
| Associate Counsel | 45.0 | 0.0 | $128,267 | $0 | $29,300 | Yes (X) | ||
| Steven A Schmidt | ||||||||
| Comm. & Compliance Strategist | 45.0 | 0.0 | $122,270 | $0 | $24,278 | Yes (X) | ||
| Matthew R Harlowe | ||||||||
| Manager - Internal Audit | 45.0 | 0.0 | $108,998 | $0 | $19,270 | Yes (X) | ||
| Patricia L Wheeler | ||||||||
| Associate Counsel | 45.0 | 0.0 | $147,687 | $0 | $25,575 | Yes (X) | ||
| Gwendolyn D Lemke | ||||||||
| Project Mgr - Compl Mgt System | 45.0 | 0.0 | $102,749 | $0 | $35,022 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $2,561,459 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $350,648 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $425,832 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 10 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | false | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (true) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | false | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp
Contractor Name ContractorName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | Ernst Young US LLP 155 N Wack | PersonNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contractor Address | ContractorAddress | |
| Services | Audit/Tax Service | ServicesDesc |
| Compensation | $404,662 | CompensationAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 1 | CntrctRcvdGreaterThan100KCnt |
| Total Contributions | $0 | TotalContributionsAmt |
| Total Program Service Revenue | $0 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $6,217,019 | TotalRevenueColumnAmt |
| Exclusion | $6,217,019 | ExclusionAmt |
Incm From Invest Bond Proceeds IncmFromInvestBondProceedsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Royalties Revenue RoyaltiesRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $0 | RealAmt |
| Personal | $0 | PersonalAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $0 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $333 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | -$333 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -$333 | TotalRevenueColumnAmt |
| Exclusion | -$333 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Fundraising Gross Income | $0 | FundraisingGrossIncomeAmt |
| Fundraising Direct Expenses | $0 | FundraisingDirectExpensesAmt |
Net Incm From Fundraising Evt NetIncmFromFundraisingEvtGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gaming Gross Income | $0 | GamingGrossIncomeAmt |
| Gaming Direct Expenses | $0 | GamingDirectExpensesAmt |
Net Income From Gaming NetIncomeFromGamingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Sales Of Inventory | $0 | GrossSalesOfInventoryAmt |
| Cost Of Goods Sold | $0 | CostOfGoodsSoldAmt |
Net Income Or Loss NetIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $0 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $6,216,686 | TotalRevenueColumnAmt |
| Exclusion | $6,216,686 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Foreign Grants ForeignGrantsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Benefits To Members BenefitsToMembersGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,019,539 | TotalAmt |
| Program Services | $384,952 | ProgramServicesAmt |
| Management And General | $1,634,587 | ManagementAndGeneralAmt |
Comp Disqual Persons CompDisqualPersonsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,076,726 | TotalAmt |
| Program Services | $916,426 | ProgramServicesAmt |
| Management And General | $3,160,300 | ManagementAndGeneralAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $413,907 | TotalAmt |
| Program Services | $106,015 | ProgramServicesAmt |
| Management And General | $307,892 | ManagementAndGeneralAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $531,530 | TotalAmt |
| Program Services | $145,124 | ProgramServicesAmt |
| Management And General | $386,406 | ManagementAndGeneralAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $290,484 | TotalAmt |
| Program Services | $66,787 | ProgramServicesAmt |
| Management And General | $223,697 | ManagementAndGeneralAmt |
Fees For Services Management FeesForServicesManagementGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $58,653 | TotalAmt |
| Management And General | $58,653 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $533,578 | TotalAmt |
| Management And General | $533,578 | ManagementAndGeneralAmt |
Fees For Services Lobbying FeesForServicesLobbyingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Fees For Services Prof Fundraising FeesForServicesProfFundraising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,352,893 | TotalAmt |
| Management And General | $1,352,893 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $107,407 | TotalAmt |
| Program Services | $107,407 | ProgramServicesAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,709 | TotalAmt |
| Program Services | $4,709 | ProgramServicesAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $409,647 | TotalAmt |
| Program Services | $404,945 | ProgramServicesAmt |
| Management And General | $4,702 | ManagementAndGeneralAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Royalties RoyaltiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $211,165 | TotalAmt |
| Program Services | $53,545 | ProgramServicesAmt |
| Management And General | $157,620 | ManagementAndGeneralAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $90,922 | TotalAmt |
| Program Services | $16,981 | ProgramServicesAmt |
| Management And General | $73,941 | ManagementAndGeneralAmt |
Pymt Travel Entrtnmnt Pub Ofcl PymtTravelEntrtnmntPubOfclGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $53,399 | TotalAmt |
| Program Services | $7,060 | ProgramServicesAmt |
| Management And General | $46,339 | ManagementAndGeneralAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Payments To Affiliates PaymentsToAffiliatesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $6,463 | TotalAmt |
| Program Services | $6,463 | ProgramServicesAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt |
|---|---|---|---|
| SERVICE ARRANGEMENT FEES | $13,974,010 | $13,974,010 | |
| DUES AND MEMBERSHIPS | $18,925 | $18,925 | |
| CORP SUPP FUNCT ALLOCATION | -$22,755,702 | -$16,195,485 | -$6,560,217 |
| MISCELLANEOUS | $7,056 | $6,136 | $920 |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,405,311 | TotalAmt |
| Program Services | $24,000 | ProgramServicesAmt |
| Management And General | $1,381,311 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part X | Yes (X) | InfoInScheduleOPartXInd |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,265 | BOYAmt |
| EOY | $1,002 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $452,933,858 | BOYAmt |
| EOY | $324,572,412 | EOYAmt |
Pledges And Grants Receivable PledgesAndGrantsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $94,058,803 | BOYAmt |
| EOY | $23,464,375 | EOYAmt |
Receivables From Officers Etc ReceivablesFromOfficersEtcGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Rcvbl From Disqualified Prsn RcvblFromDisqualifiedPrsnGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Inventories For Sale Or Use InventoriesForSaleOrUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $125,000 | EOYAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $77,925,003 | BOYAmt |
| EOY | $193,926,584 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,030,913 | BOYAmt |
| EOY | $106,466,964 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $99,168,539 | BOYAmt |
| EOY | $126,697,303 | EOYAmt |
Intangible Assets IntangibleAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $119,244,757 | BOYAmt |
| EOY | $119,492,390 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $851,364,138 | BOYAmt |
| EOY | $894,746,030 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $125,000 | BOYAmt |
| EOY | $62,500 | EOYAmt |
Grants Payable GrantsPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Tax Exempt Bond Liabilities TaxExemptBondLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Escrow Account Liability EscrowAccountLiabilityGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Loans From Officers Directors LoansFromOfficersDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Unsecured Notes Loans Payable UnsecuredNotesLoansPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $443,778 | BOYAmt |
| EOY | $4,657 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $568,778 | BOYAmt |
| EOY | $67,157 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows SFAS117 | Yes (X) | OrganizationFollowsSFAS117Ind |
Unrestricted Net Assets UnrestrictedNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $850,795,360 | BOYAmt |
| EOY | $894,678,873 | EOYAmt |
Temporarily Rstr Net Assets TemporarilyRstrNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Permanently Rstr Net Assets PermanentlyRstrNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $850,795,360 | BOYAmt |
| EOY | $894,678,873 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $851,364,138 | BOYAmt |
| EOY | $894,746,030 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $4,811,375 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $18,769,554 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $20,302,584 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | false | AccountantCompileOrReviewInd |
| FS Audited | Yes (true) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Consolidated Basis Fincl Stmt | Yes (X) | ConsolidatedBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (true) | AuditCommitteeInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Supporting Organization509a3 | Yes (X) | SupportingOrganization509a3Ind |
| Supporting Org Type2 | Yes (X) | SupportingOrgType2Ind |
| Supported Organizations | 4 | SupportedOrganizationsCnt |
Supported Org Information SupportedOrgInformationGrp (4 entries)
| EINEIN | Organization TypeOrganizationTypeCd | Governing Document ListedGoverningDocumentListedInd | SupportSupportAmt | Other SupportOtherSupportAmt |
|---|---|---|---|---|
| GREAT LAKES HIGHER EDUCATION GUARANTY CORPORATION | ||||
| 391853833 | 10 | Yes (true) | $21,564,540 | $0 |
| NORTHSTAR GUARANTEE INC | ||||
| 411689095 | 10 | Yes (true) | $48,000 | $0 |
| UNITED STUDENT AID FUNDS INC | ||||
| 946050341 | 10 | Yes (true) | $658,271 | $0 |
| NORTHWEST EDUCATION LOAN ASSOCIATION | ||||
| 911068278 | 10 | Yes (true) | $484,890 | $0 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Supported Organizations Total | 4 | SupportedOrganizationsTotalCnt |
| Support Sum | $22,755,701 | SupportSumAmt |
Form990 Sch A Supporting Org Form990SchASupportingOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Listed By Name Governing Doc | Yes (true) | ListedByNameGoverningDocInd |
| Suprt Org No IRS Determination | false | SuprtOrgNoIRSDeterminationInd |
| Supported Org Section C456 | false | SupportedOrgSectionC456Ind |
| Supported Org Not Organized US | false | SupportedOrgNotOrganizedUSInd |
| Organization Change Suprt Org | Yes (true) | OrganizationChangeSuprtOrgInd |
| Supported Org Class Designated | Yes (true) | SupportedOrgClassDesignatedInd |
| Support Non Supported Org | false | SupportNonSupportedOrgInd |
| Payment Substantial Contribtr | false | PaymentSubstantialContribtrInd |
| Loan Disqualified Person | false | LoanDisqualifiedPersonInd |
| Controlled Disqualified Prsn | false | ControlledDisqualifiedPrsnInd |
| Disqualified Prsn Controll Int | false | DisqualifiedPrsnControllIntInd |
| Disqualified Prsn Ownr Int | false | DisqualifiedPrsnOwnrIntInd |
| Excess Business Holdings Rules | false | ExcessBusinessHoldingsRulesInd |
| Contribution Controller | false | ContributionControllerInd |
| Contribution Family | false | ContributionFamilyInd |
| Contribution35 Controlled | false | Contribution35ControlledInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Majority Dir Trst Supported Org | Yes (true) | MajorityDirTrstSupportedOrgInd |
Form990 Schedule A Part VI Form990ScheduleAPartVIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Schedule A, Part IV, Section A, Question 5a | FormAndLineReferenceDesc |
| Explanation | (i) Great Lakes Higher Education Corporation ("GLHEC") added two additional supported organizations to the Articles of Incorporation effective January 1, 2017: United Student Aid Funds, Inc. (94-6050341), and Northwest Education Loan Association (91-1068278). ii) The companies were added pursuant to a substitution of GLHEC as sole member of United Student Aid Funds, Inc. and Northwest Education Loan Association. iii) The companies were added pursuant to the authority and provisions as set for in the GLHEC bylaws. iv) The changes to the Articles of Incorporation were made by amendment, restatement, and adoption by unanimous consent of the Board of Directors. | ExplanationTxt |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Art Public Exhibition Amounts | ArtPublicExhibitionAmountsGrp | |
| Held Works Art | HeldWorksArtGrp | |
| CY Minus3 Yr Endwmt Fund | CYMinus3YrEndwmtFundGrp | |
| CY Minus4 Yr Endwmt Fund | CYMinus4YrEndwmtFundGrp | |
| Land | LandGrp | |
| Buildings | BuildingsGrp | |
| Leasehold Improvements | LeaseholdImprovementsGrp | |
| Equipment | EquipmentGrp | |
| Other Land Buildings | OtherLandBuildingsGrp | |
| Financial Derivatives | FinancialDerivativesGrp | |
| Closely Held Equity Interests | CloselyHeldEquityInterestsGrp |
Other Securities OtherSecuritiesGrp (5 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| CAMPUSLOGIC INVESTMENT | $1,500,000 | F |
| GSV FUND INVESTMENT | $8,346,945 | F |
| RETHINK EDUCATION INVESTMENT | $4,381,442 | F |
| BLACKROCK - INDEX FUND | $46,152,005 | F |
| VANGUARD - INDEX FUND | $46,086,572 | F |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Securities | $106,466,964 | TotalBookValueSecuritiesAmt |
Invst Program Related Org InvstProgramRelatedOrgGrp (2 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| INVESTMENT GL ED LOAN SVCS | $106,988,588 | F |
| LEARN CAPITAL VENTURE PARTNERS | $19,708,715 | F |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Program Rltd | $126,697,303 | TotalBookValueProgramRltdAmt |
Other Assets Org OtherAssetsOrgGrp (2 entries)
| DescDesc | Book ValueBookValueAmt |
|---|---|
| LENDER FUNDING CONTRIB TRANSFR | $118,419,274 |
| ACCRUED INTEREST RECEIVABLE | $1,073,116 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Other Assets | $119,492,390 | TotalBookValueOtherAssetsAmt |
| Federal Income Tax Liability | $0 | FederalIncomeTaxLiabilityAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | INTERCOMPANY PAYABLE | Desc |
| Amt | $4,657 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $4,657 | TotalLiabilityAmt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Schedule D, Part IX | FormAndLineReferenceDesc |
| Explanation | $118,419,274 Lender Funding Contribution Transfer The $118,419,274 represents the 2008-2010 Lender Funding Contribution Transfer to Northstar Guarantee Inc. (Related Entity). | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Idemnification Gross Up Pmts | Yes (X) | IdemnificationGrossUpPmtsInd |
| Written Policy Ref T And E Expnss | Yes (true) | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | Yes (true) | SubstantiationRequiredInd |
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| Form990 Of Other Organizations | Yes (X) | Form990OfOtherOrganizationsInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | false | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | Yes (true) | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | false | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | false | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | false | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | false | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | false | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | false | AnyNonFixedPaymentsInd |
| Initial Contract Exception | false | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (8 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Richard D George 23 | ||||||||||||||
| Chairman/Pres/CEO/Treas | $310,643 | $0 | $515,585 | $0 | $185,799 | $0 | $32,400 | $0 | $25,531 | $0 | $1,069,958 | $0 | $0 | $0 |
| Nancy Seifert 3 | ||||||||||||||
| FORMER CFO | $38,134 | $0 | $195,000 | $0 | $69,133 | $0 | $19,945 | $0 | $3,826 | $0 | $326,038 | $0 | $0 | $0 |
| Rebecca Rapp 3 | ||||||||||||||
| General Counsel/Asst Secretary | $125,828 | $0 | $130,585 | $0 | $274 | $0 | $28,672 | $0 | $22,823 | $0 | $308,182 | $0 | $0 | $0 |
| Dawn M Vogel 3 | ||||||||||||||
| Director of Internal Audit | $128,200 | $0 | $65,518 | $0 | $274 | $0 | $23,578 | $0 | $24,612 | $0 | $242,182 | $0 | $0 | $0 |
| Jacqueline Fairbairn 3 | ||||||||||||||
| CMS Committee Chair | $0 | $130,630 | $0 | $130,537 | $0 | $655 | $0 | $32,625 | $0 | $37,190 | $0 | $331,637 | $0 | $0 |
| Jennifer M Krueger | ||||||||||||||
| Associate Counsel | $127,299 | $0 | $705 | $0 | $263 | $0 | $14,358 | $0 | $14,942 | $0 | $157,567 | $0 | $0 | $0 |
| Hope E Merry 3 | ||||||||||||||
| CFO | $118,244 | $0 | $10,052 | $0 | $245 | $0 | $18,836 | $0 | $22,349 | $0 | $169,726 | $0 | $0 | $0 |
| Patricia L Wheeler | ||||||||||||||
| Associate Counsel | $137,779 | $0 | $9,215 | $0 | $693 | $0 | $17,258 | $0 | $8,317 | $0 | $173,262 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | FORM 990, SCHEDULE J, PART I, LINE 1A | FormAndLineReferenceDesc |
| Explanation | RICHARD D. GEORGE, CHIEF EXECUTIVE OFFICER, RECEIVED A TAX GROSS-UP IN 2017, FOR ONE OF THREE YEARS TO OFFSET TAX LIABILITIES ASSOCIATED WITH THE VESTING OF AN OPTION IT AWARD MADE IN 2004 THAT WAS ORIGINALLY INTENDED TO VEST POST RETIREMENT. THE BOARD OF DIRECTORS HAS REQUESTED THAT THE CEO DELAY RETIREMENT AND HAS OFFERED THIS TAX GROSS UP AS AN INVESTMENT TOWARDS THAT END. FORM 990, SCHEDULE J, PART I, LINE 4B RICHARD D. GEORGE, CHIEF EXECUTIVE OFFICER, PARTICIPATED IN A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN. THERE WERE NO NEW PAYMENTS INTO THE PLAN. THE SUPPLEMENTAL NONQUALIFIED PLAN (OPTIONIT PLAN) WAS IN EFFECT FOR FOUR YEARS (1998-2001), AWARDED IN EACH OF THE SUBSEQUENT YEARS (1999-2002) AND WAS OFFERED BY THE EMPLOYER TO MANAGEMENT AND STAFF FOR RETENTION PURPOSES. PER THE TERMS OF THE PLAN, WITHDRAWALS ARE REQUIRED NO LATER THAN FIFTEEN YEARS AFTER THE INITIAL AWARD DATE. THE PAYMENT FROM THE PLAN IN 2017 WAS $182,135. THE PLAN CLOSED IN 2017. | ExplanationTxt |
Schedule L IRS990ScheduleL
Bus Tr Involve Interested Prsn BusTrInvolveInterestedPrsnGrp (3 entries)
| Relationship DescriptionRelationshipDescriptionTxt | TransactionTransactionAmt | TransactionTransactionDesc | Sharing Of RevenuesSharingOfRevenuesInd |
|---|---|---|---|
| Great Lakes Educational Loan Svcs | |||
| Subsidiary/Officer ovrlap | $13,974,010 | SERVICES AGREEMENT FEES | false |
| Great Lakes Educational Loan Svcs | |||
| Subsidiary/Officer ovrlap | $1,261,813 | Intercompany Reimb. to GLELSI | false |
| Great Lakes Educational Loan Svcs | |||
| Subsidiary/Officer ovrlap | $211,000 | Building Rent | false |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Description of Transactions: | FormAndLineReferenceDesc |
| Explanation | Great Lakes Educational Loan Services, Inc. is a for-profit subsidiary of Great Lakes Higher Education Corporation. Richard D. George serves as the Chairman and Treasurer, and the President and CEO of Great Lakes Higher Education Corporation. He also serves as the Chairman of Great Lakes Educational Loan Services, Inc. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (7 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART I, LINE 1 | GREAT LAKES HIGHER EDUCATION CORPORATION OPERATES FOR THE SUPPORT AND BENEFIT OF GREAT LAKES HIGHER EDUCATION GUARANTY CORPORATION, NORTHSTAR GUARANTEE INC., UNITED STUDENT AID FUNDS, INC. AND NORTHWEST EDUCATION LOAN ASSOCIATION. PART III, LINE 2 SIGNIFICANT PROGRAM CHANGES INCLUDED THE ADDITION OF TWO NEW SUPPORTED ORGANIZATIONS. EFFECTIVE JANUARY 1, 2017 GREAT LAKES HIGHER EDUCATION CORPORATION BECAME THE SOLE MEMBER OF UNITED STUDENT AID FUNDS,INC, (USAF) AND NORTHWEST EDUCATION LOAN ASSOCIATION (NELA). |
| Part VI, Section A, Line 4 | GLHEC revised the Articles of Incorporation to add United Student Aid Funds, Inc. (USAF) and Northwest Education Loan Association (NELA) as additional supported organizations for which GLHEC may operate exclusively for the benefit of, to perform the functions of and to carry out the purposes. Additionally, the registered agent was updated from Nancy Seifert to Anton Ketterer. GLHEC revised the Bylaws of the organization to add the following: - Tenure provision that prohibits a director from being elected or re-elected for a term which commences on or after their 78th birthday. - Authorization for the Vice Chairman to act as Chairman in the absence of the Chairman of a Board during a Board of Directors meeting. - An Investment Committee that is comprised of 3 directors, a chariman and the chairman of the Audit Committee. - Recognized the Vice Chairman as an officer of the board. - Upon the Chairman's resignation, removal or other event creating a vacancy, the Vice Chairman shall immediately become the Chairman. |
| 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. |
| 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.Part VI, Question 19 Availability of governing documents, conflict of interest policy, and financial statements to general public; federal tax law does not require that such documents be made publicly available. Documents are available upon specific request. |
| Part VI, Questions 15a & 15b | The compensation of the CEO and all of the Officers is determined annually by the Personnel Policy Committee of the Board of Directors. The CEO is routinely excused and abstains from discussion and/or voting on any matters related to his own compensation and benefits. 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. |
| 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) Compensation line includes compensation for general counsel services and affiliate group responsibilities. Inside directors are not eligible for Board compensation. (3) Non-operating officer position not separately compensated. |
| Part XI, Line 9 | $20,302,584 - CHANGE IN INVESTMENT IN WHOLLY OWNED SUBSIDIARY - GREAT LAKES EDUCATIONAL LOAN SERVICES, INC. |
Schedule R IRS990ScheduleR
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp (4 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Exempt Code SectionExemptCodeSectionTxt | Public Charity StatusPublicCharityStatusTxt | Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt | Controlled OrganizationControlledOrganizationInd |
|---|---|---|---|---|---|---|---|---|---|---|
| Great Lakes Higher Educ Guaranty Corp | ||||||||||
| 2401 International Lane | Madison | WI | 53704 | 391853833 | Gty Stdnt Lns | WI | 501(C)(3) | 10 | GLHEC | Yes (true) |
| Northstar Guarantee Inc | ||||||||||
| 2401 International Lane | Madison | WI | 53704 | 411689095 | Stdt Rehab Ln | MN | 501(C)(3) | 10 | GLHEC | Yes (true) |
| United Student Aid Funds Inc | ||||||||||
| 2401 International Lane | Madison | WI | 53704 | 946050341 | Gty Stdnt Lns | DE | 501 (C)(3) | 10 | GLHEC | Yes (true) |
| Northwest Education Loan Association | ||||||||||
| 2401 International Lane | Madison | WI | 53704 | 911068278 | Stdnt Loans | WA | 501 (C)(3) | 10 | GLHEC | Yes (true) |
Id Related Org Txbl Corp Tr IdRelatedOrgTxblCorpTrGrp
Related Organization Name RelatedOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Great Lakes Educational Loan Svcs Inc | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2401 International Lane | AddressLine1Txt |
| City | Madison | CityNm |
| State Abbreviation | WI | StateAbbreviationCd |
| ZIP | 53704 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 391864035 | EIN |
| Primary Activities | Stdnt Ln Svcs | PrimaryActivitiesTxt |
| Legal Domicile State | WI | LegalDomicileStateCd |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | NA | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Entity Type | C corp | EntityTypeTxt |
| Share Of Total Income | $217,120,479 | ShareOfTotalIncomeAmt |
| Share Of EOY Assets | $131,609,668 | ShareOfEOYAssetsAmt |
| Ownership | 1.00000 | OwnershipPct |
| Controlled Organization | Yes (true) | ControlledOrganizationInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | false | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | false | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | Yes (true) | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | false | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | false | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | false | DivRelatedOrganizationInd |
| Asset Sale To Other Org | false | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | false | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | false | AssetExchangeInd |
| Rental Of Facilities To Oth Org | false | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | Yes (true) | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | Yes (true) | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | Yes (true) | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | false | SharingOfFacilitiesInd |
| Paid Employees Sharing | false | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | Yes (true) | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | Yes (true) | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | false | TransferToOtherOrgInd |
| Transfer From Other Org | false | TransferFromOtherOrgInd |
Transactions Related Org TransactionsRelatedOrgGrp (6 entries)
| Transaction TypeTransactionTypeTxt | InvolvedInvolvedAmt | Method Of Amount DeterminationMethodOfAmountDeterminationTxt |
|---|---|---|
| Great Lakes Educational Loan Services Inc | ||
| K | $211,000 | FMV |
| Great Lakes Higher Education Guaranty Corp | ||
| L & Q | $21,628,164 | ACTUAL COST |
| Great Lakes Educational Loan Services Inc | ||
| P | $1,261,068 | ACTUAL COST |
| United Student Aid Funds Inc | ||
| L & Q | $682,580 | ACTUAL COST |
| Northwest Education Loan Association | ||
| L & Q | $522,615 | ACTUAL COST |
| Northstar Guarantee Inc | ||
| L & Q | $112,334 | ACTUAL COST |