2017-08-29T13:28:05-05:00 2016-12-31 ERNST & YOUNG US LLP 155 N Wacker Drive Chicago IL 60606 990 2016-01-01 391090394 GREAT LAKES HIGHER EDUCATION CORPORATION % HOPE MERRY GREA 6082461744 2401 International Lane Madison WI 53704 RICHARD GEORGE President & CEO 6082461408 2017-08-25 Jacob Zehnder P01564049 3128792000 97.77.198.2 36964520172415000002 2017-08-29 P 65F0DF251A281CAD23E2EB75EB97BBA013C66414 C9DBECFA4D5F977949E071EAE3D03995FD0A4C0E 2016 2021-01-29 14:40:06Z Richard D George 2401 International Lane Madison WI 53704 16797979 false X www.mygreatlakes.org X 1967 WI GREAT LAKES HIGHER EDUCATION CORPORATION OPERATES FOR THE SUPPORT AND BENEFIT OF GREAT LAKES HIGHER EDUCATION GUARANTY CORPORATION AND NORTHSTAR GUARANTEE INC. 9 8 71 0 0 0 0 0 0 0 16297764 16797979 0 0 16297764 16797979 0 0 0 0 5816747 6794200 0 0 0 -5412567 -5786433 404180 1007767 15893584 15790212 629596316 851364138 291574 568778 629304742 850795360 GREAT LAKES HIGHER EDUCATION CORPORATION OPERATES FOR THE SUPPORT AND BENEFIT OF GREAT LAKES HIGHER EDUCATION GUARANTY CORPORATION AND NORTHSTAR GUARANTEE INC. THIS MISSION STATEMENT HAS BEEN REVIEWED, ACKNOWLEDGED AND APPROVED BY THE BOARD. false false 24000 GREAT LAKES HIGHER EDUCATION CORPORATION OPERATES FOR THE SUPPORT AND BENEFIT OF GREAT LAKES HIGHER EDUCATION GUARANTY CORPORATION (GLHEGC) AND NORTHSTAR GUARANTEE INC. (NORTHSTAR). GLHEGC and Northstar 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. 24000 true false false false false false false false false false false false true true true false false true false false false false false false false false false false false true false false false false false false false true false false false false false true true true false false true 16 0 true 71 true false false false false false false false false false false X 9 8 false false false false false false false true true false false true true true true true true true true false X HOPE MERRY 6082461754 2401 INTERNATIONAL LANE MADISON WI 53704 X Thomas J Boldt 1 Director 3.0 0.0 X 20700 0 0 Emerson L Brumback 1 Director 2.0 1.0 X 8450 8450 0 David J Hanson 14 Director/Secretary 1.0 2.0 X 0 0 0 Linda Hoeschler 1 Director 2.0 1.0 X 8450 8450 0 Alex J Pollock 1 Director 2.0 1.0 X 8450 8450 0 Joan Prince 1 Director 2.0 1.0 X 8450 8450 0 Richard A Weiss 1 Director 1.0 2.0 X 6900 13800 0 Richard D George 23 Chair/Pres/CEO/Treas 58.0 2.0 X X 841770 0 65947 Mary Burke 1 Director 1.0 2.0 X 5633 11267 0 Nancy Seifert 3 CFO 55.0 0.0 X 378714 0 65014 Rebecca Rapp 3 General Counsel/Asst Secretary 48.0 2.0 X 256500 0 57398 Dawn Vogel 3 Director of Internal Audit 50.0 0.0 X 194248 0 47247 Jacqueline Fairbairn 3 CMS Committee Chair 1.0 49.0 X 0 258367 62599 Stephanie L Hafermann Sr Mgr - Corporate Acctg 45.0 0.0 X 104497 0 37475 Hope E Merry Sr Mgr - Guar Acctg Fed Rpt 45.0 0.0 X 127150 0 35875 Steven A Schmidt Comm. & Compliance Strategist 45.0 0.0 X 119021 0 22795 Mardee Blattner Sr Mgr - Corporate Tax 45.0 0.0 X 103568 0 37085 Patricia Wheeler Associate Counsel 45.0 0.0 X 148535 0 25653 2341036 317234 457088 17 false true false Ernst Young US LLP 155 N Wack Audit/Tax Service 190011 1 0 0 16797979 16797979 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 16797979 16797979 X 0 0 0 0 1784394 234558 1549836 0 3898634 918141 2980493 397585 105600 291985 460046 145764 314282 253541 65779 187762 0 90874 90874 131125 131125 0 0 955914 955914 180362 180362 6123 6123 313449 309659 3790 0 0 182174 46154 136020 79479 26148 53331 0 53107 4487 48620 0 0 9153 9153 0 SERVICE ARRANGEMENT FEES 10532116 10532116 DUES AND MEMBERSHIPS 15179 15179 CORP SUPP FUNCT ALLOCATION -18343192 -12581872 -5761320 MISCELLANEOUS 7704 6649 1055 1007767 24000 983767 0 632 2265 399171233 452933858 0 0 517623 94058803 0 0 0 0 0 0 0 0 0 0 0 0 19769644 77925003 1500000 8030913 89593109 99168539 0 0 119044075 119244757 629596316 851364138 0 125000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 291574 443778 291574 568778 X 629304742 850795360 0 0 0 0 629304742 850795360 629596316 851364138 X 15790212 -38264 205738670 X false true X true X X 2 GREAT LAKES HIGHER EDUCATION GUARANTY CORPORATION 391853833 10 true 18295192 0 NORTHSTAR GUARANTEE INC 411689095 10 true 48000 0 2 18343192 0 true false false false false false false false false false false false false false false true INVESTMENT GL ED LOAN SVCS 86686004 F LEARN CAPITAL VENTURE PARTNERS 12482535 F 99168539 LENDER FUNDING CONTRIB TRANSFR 118419274 ACCRUED INTEREST RECEIVABLE 696263 COMPENSATION PLAN ASSETS 129220 119244757 0 COMPENSATION PLAN PAYABLE 129219 INTERCOMPANY PAYABLE 314559 443778 Schedule D, Part IX $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). X X X X X false true false false false false false false false Richard D George 23 Chair/Pres/CEO/Treas 310913 0 315585 0 215272 0 44845 0 21102 0 907717 0 0 0 Nancy Seifert 3 CFO 178076 0 195512 0 5126 0 36381 0 28633 0 443728 0 0 0 Rebecca Rapp 3 General Counsel/Asst Secretary 125637 0 130585 0 278 0 33254 0 24144 0 313898 0 0 0 Dawn Vogel 3 Director of Internal Audit 128455 0 65519 0 274 0 24708 0 22539 0 241495 0 0 0 Jacqueline Fairbairn 3 CMS Committee Chair 0 127163 0 130573 0 631 0 31800 0 30799 0 320966 0 0 Hope E Merry Sr Mgr - Guar Acctg Fed Rpt 99379 0 16806 0 10965 0 15724 0 20151 0 163025 0 0 0 Patricia Wheeler Associate Counsel 138299 0 9784 0 452 0 18027 0 7626 0 174188 0 0 0 Supplemental Compensation Information The following individuals participated in a supplemental nonqualified retirement plan: Richard George and Nancy Seifert. 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. Great Lakes Educational Loan Svcs Subsidiary/Officer ovrlap 10532116 Services Agreement Fees false Great Lakes Educational Loan Svcs Subsidiary/Officer ovrlap 1124823 Intercompany Reimb. to GLELSI false Great Lakes Educational Loan Svcs Subsidiary/Officer ovrlap 182000 Building Rent false Description of Transactions: 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. 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. (4) Board compensation is applied to firm retainer for outside counsel services. Part XI, Line 9 $5,719,118 - CHANGE IN INVESTMENT IN WHOLLY OWNED SUBSIDIARY - GREAT LAKES EDUCATIONAL LOAN SERVICES, INC. $200,019,552 - OPERATING FUND CONTRIBUTION TRANSFER FROM GREAT LAKES HIGHER EDUCATION GUARANTY CORPORATION (RELATED COMPANY). Part IX, Line 11g $180,362 - Other Professional Services Great Lakes Higher Educ Guaranty Corp 2401 International Lane Madison WI 53704 391853833 Gty Stdnt Lns WI 501(C)(3) 10 GLHEC true Northstar Guarantee Inc 2401 International Lane Madison WI 53704 411689095 Stdt Rehab Ln MN 501(C)(3) 10 GLHEC true Great Lakes Educational Loan Svcs Inc 2401 International Lane Madison WI 53704 391864035 Stdnt Ln Svcs WI NA C corp 223811914 113646783 1.00000 true false false true false false true false false false false true true true false false true true false false Great Lakes Educational Loan Services Inc K 182000 FMV Great Lakes Educational Loan Services Inc M 10532116 ACTUAL COST Great Lakes Higher Education Guaranty Corp L & Q 18188662 ACTUAL COST Great Lakes Educational Loan Services Inc P 1124823 ACTUAL COST Northstar Guarantee Inc L & Q 125563 ACTUAL COST Great Lakes Educational Loan Services Inc F 15000000 ACTUAL COST Great Lakes Higher Education Guaranty Corp C 200019552 ACTUAL COST