GRANITE EDVANCE CORPORATION: Form 990, tax year 2024
View the entire original 990 at ProPublica ↗
- Organization
- GRANITE EDVANCE CORPORATION (EIN 02-0368776)
- Tax period
- 2024-10-01 to 2025-09-30
- Filed
- 2026-02-17
- IRS object ID
- 202610489349300536
- Schema version
- 2024v5.5
- 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
- Form 990
- Schedule A
- Schedule B
- Schedule C
- Schedule D
- Schedule I
- Schedule J
- Schedule K
- Schedule O
- Schedule R
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2026-02-17T16:27:27-06:00 | ReturnTs |
| Tax Period End | 2025-09-30 | 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 LLC | 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 | 2024-10-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 020368776 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Granite Edvance Corporation | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | NHHI | BusinessNameControlTxt |
| Phone | 6032265829 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 3 Barrell Court | AddressLine1Txt |
| City | Concord | CityNm |
| State Abbreviation | NH | StateAbbreviationCd |
| ZIP | 03302 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | Scott Rogers | PersonNm |
| Person Title | Chief Financial Officer | PersonTitleTxt |
| Phone | 6032265829 | PhoneNum |
| Signature | 2026-02-11 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | 0 | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | Connor Smart | PreparerPersonNm |
| PTIN | P02285543 | PTIN |
| Phone | 2078792100 | PhoneNum |
| Preparation | 2026-02-11 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2024 | TaxYr |
| Build TS | 2025-03-06 01:10:19Z | 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 | 3 Barrell Court | AddressLine1Txt |
| City | Concord | CityNm |
| State Abbreviation | NH | StateAbbreviationCd |
| ZIP | 03302 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $70,339,937 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | www.graniteedvance.org | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1983 | FormationYr |
| Legal Domicile State | NH | LegalDomicileStateCd |
| Activity Or Mission | To support New Hampshire students and families in navigating their education and career pathways. | ActivityOrMissionDesc |
| Voting Members Governing Body | 14 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 13 | VotingMembersIndependentCnt |
| Total Employee | 101 | TotalEmployeeCnt |
| Total Volunteers | 96 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $542,652 | PYContributionsGrantsAmt |
| CY Contributions Grants | $40,000 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $55,454,631 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $53,741,564 | CYProgramServiceRevenueAmt |
| PY Investment Income | $7,930,559 | PYInvestmentIncomeAmt |
| CY Investment Income | $7,508,016 | CYInvestmentIncomeAmt |
| PY Other Revenue | $12,005 | PYOtherRevenueAmt |
| CY Other Revenue | -$84,958 | CYOtherRevenueAmt |
| PY Total Revenue | $63,939,847 | PYTotalRevenueAmt |
| CY Total Revenue | $61,204,622 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $650,500 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $1,026,288 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $7,754,093 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $8,585,672 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $51,654,512 | PYOtherExpensesAmt |
| CY Other Expenses | $49,588,888 | CYOtherExpensesAmt |
| PY Total Expenses | $60,059,105 | PYTotalExpensesAmt |
| CY Total Expenses | $59,200,848 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $3,880,742 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $2,003,774 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $904,473,074 | TotalAssetsBOYAmt |
| Total Assets EOY | $912,774,268 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $590,642,566 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $585,082,056 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $313,830,508 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $327,692,212 | NetAssetsOrFundBalancesEOYAmt |
| Mission | To support New Hampshire students and families in navigating their education and career pathways by providing free advisory services, student loans and scholarships for post-secondary education. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $55,794,519 | ExpenseAmt |
| Grant | $1,026,288 | GrantAmt |
| Revenue | $53,741,564 | RevenueAmt |
| Desc | The Corporation was organized for the charitable and educational purpose of providing low-cost financial assistance primarily to eligible students attending college in New Hampshire or residents attending college out of state. | Desc |
| Total Program Service Expenses | $55,794,519 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (1) | DescribedInSection501c3Ind |
| Schedule B Required | Yes (1) | 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 | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | 0 | 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 | Yes (1) | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | Yes (1) | TaxExemptBondsInd |
| Invest Tax Exempt Bonds | 0 | InvestTaxExemptBondsInd |
| Escrow Account | 0 | EscrowAccountInd |
| On Behalf Of Issuer | 0 | OnBehalfOfIssuerInd |
| 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 | Yes (1) | DisregardedEntityInd |
| Related Entity | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | Yes (1) | RelatedOrganizationCtrlEntInd |
| Transaction With Control Ent | 0 | TransactionWithControlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | 0 | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 180 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 101 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| 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 | 14 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 13 | IndependentVotingMemberCnt |
| Family Or Business Rln | Yes (1) | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | 0 | MembersOrStockholdersInd |
| Election Of Board Members | 0 | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | 0 | 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 | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | NH | StatesWhereCopyOfReturnIsFldCd |
| States Where Copy Of Return Is Fld | CA | StatesWhereCopyOfReturnIsFldCd |
| States Where Copy Of Return Is Fld | OR | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Scott Rogers CFO | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 6032265829 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 3 Barrell Court | AddressLine1Txt |
| City | Concord | CityNm |
| State Abbreviation | NH | StateAbbreviationCd |
| ZIP | 03302 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (26 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 | Key EmployeeKeyEmployeeInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|---|---|
| Peter Burger | |||||||||
| Trustee | 0.20 | 0.00 | Yes (X) | $0 | $0 | $0 | |||
| William Dwyer | |||||||||
| Trustee | 0.20 | 0.00 | Yes (X) | $0 | $0 | $0 | |||
| Rick Elwell | |||||||||
| Trustee | 0.20 | 0.00 | Yes (X) | $0 | $0 | $0 | |||
| Chuck Lloyd | |||||||||
| Trustee | 0.20 | 0.00 | Yes (X) | $0 | $0 | $0 | |||
| MB Lufkin | |||||||||
| Trustee | 0.20 | 0.00 | Yes (X) | $0 | $0 | $0 | |||
| Debra Miller | |||||||||
| Trustee | 0.20 | 0.00 | Yes (X) | $0 | $0 | $0 | |||
| Hans Olson | |||||||||
| Trustee | 0.20 | 0.00 | Yes (X) | $0 | $0 | $0 | |||
| Sandy Tracy | |||||||||
| Trustee | 0.20 | 0.00 | Yes (X) | $0 | $0 | $0 | |||
| Susan Huard | |||||||||
| Chair (end 12/2024); Trustee | 0.20 | 0.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | ||
| Paul Provost | |||||||||
| Trustee; Chair (start 1/2025) | 0.20 | 0.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | ||
| Gordon Koff | |||||||||
| Vice Chair; Trustee | 0.20 | 0.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | ||
| Carol Houle | |||||||||
| Treasurer; Trustee | 0.20 | 0.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | ||
| Jamie Burnett | |||||||||
| Secretary; Trustee | 0.20 | 0.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | ||
| Christiana Thornton | |||||||||
| President & CEO | 40.00 | 0.00 | Yes (X) | $507,256 | $0 | $46,584 | Yes (X) | ||
| Scott Rogers | |||||||||
| VP & CFO | 40.00 | 0.00 | $281,207 | $0 | $42,168 | Yes (X) | |||
| John Flanders | |||||||||
| VP & Chief Strategy/Lending Officer | 40.00 | 0.00 | $224,643 | $0 | $37,934 | Yes (X) | |||
| Blessing Chimwanda | |||||||||
| Gen. Counsel/Chief Compliance Off. | 40.00 | 0.00 | $233,919 | $0 | $8,491 | Yes (X) | |||
| Erik Sobel | |||||||||
| VP Technology Solutions & Security | 40.00 | 0.00 | $194,743 | $0 | $20,712 | Yes (X) | |||
| Danielle Barrick | |||||||||
| VP Chief Communications Officer | 40.00 | 0.00 | $191,401 | $0 | $10,153 | Yes (X) | |||
| Daniel Coughlan | |||||||||
| VP Capital Markets/Asset Management | 40.00 | 0.00 | $152,779 | $0 | $27,987 | Yes (X) | |||
| Kathy-Ann Maguire | |||||||||
| VP People & Talent Management | 40.00 | 0.00 | $150,897 | $0 | $35,633 | Yes (X) | |||
| Christopher Nadeau | |||||||||
| VP, Information Security & Business Solutions | 40.00 | 0.00 | $131,156 | $0 | $34,435 | Yes (X) | |||
| Carlton Lewis | |||||||||
| Solutions Architect | 40.00 | 0.00 | $132,775 | $0 | $9,879 | Yes (X) | |||
| Merek Weisensee | |||||||||
| AVP, Technical Solutions & Support | 40.00 | 0.00 | $128,678 | $0 | $9,684 | Yes (X) | |||
| Matthew Wallace | |||||||||
| VP, Education & Career Pathways | 40.00 | 0.00 | $116,157 | $0 | $29,551 | Yes (X) | |||
| Minatchy Visvanathan | |||||||||
| Business Systems & Data Architect | 40.00 | 0.00 | $112,938 | $0 | $32,916 | Yes (X) | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $2,558,549 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $346,127 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 21 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| Nelnet Servicing LLC | |||||
| 121 South 13th Street | Lincoln | NE | 68508 | Loan Servicing | $2,595,832 |
| Credible Labs Inc | |||||
| 22 4th Street | San Francisco | CA | 94103 | Loan Marketing | $1,000,521 |
| Saltwater Collective | |||||
| 40 Congress Street | Portsmouth | NH | 03801 | Marketing | $673,947 |
| Campus Door Holdings Inc | |||||
| 550 Pinetwon Road 208 | Fort Washington | PA | 19034 | Loan Processing | $380,462 |
| Worldcom Exchange Inc | |||||
| 43 Northwestern Drive | Salem | NH | 03079 | Technology Solutions | $164,626 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 9 | CntrctRcvdGreaterThan100KCnt |
| Government Grants | $25,000 | GovernmentGrantsAmt |
| All Other Contributions | $15,000 | AllOtherContributionsAmt |
| Total Contributions | $40,000 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (4 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| Interest Student Loans | 522291 | $48,357,973 | $48,357,973 |
| Loan Servicing Fees | 522291 | $4,972,654 | $4,972,654 |
| Late Charges & Other | 522291 | $246,180 | $246,180 |
| Federal Interest Benefit | 522291 | $164,757 | $164,757 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $53,741,564 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $7,041,939 | TotalRevenueColumnAmt |
| Exclusion | $7,041,939 | ExclusionAmt |
Gross Rents GrossRentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $41,161 | RealAmt |
Less Rental Expenses LessRentalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $126,119 | RealAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | -$84,958 | RealAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -$84,958 | TotalRevenueColumnAmt |
| Exclusion | -$84,958 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $9,475,273 | SecuritiesAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $9,009,196 | SecuritiesAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $466,077 | SecuritiesAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $466,077 | TotalRevenueColumnAmt |
| Exclusion | $466,077 | ExclusionAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $61,204,622 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $53,741,564 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $7,423,058 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $248,547 | TotalAmt |
| Program Services | $248,547 | ProgramServicesAmt |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $777,741 | TotalAmt |
| Program Services | $777,741 | ProgramServicesAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,166,505 | TotalAmt |
| Program Services | $1,299,903 | ProgramServicesAmt |
| Management And General | $866,602 | ManagementAndGeneralAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,815,527 | TotalAmt |
| Program Services | $3,867,844 | ProgramServicesAmt |
| Management And General | $947,683 | ManagementAndGeneralAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $186,494 | TotalAmt |
| Program Services | $149,792 | ProgramServicesAmt |
| Management And General | $36,702 | ManagementAndGeneralAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $970,689 | TotalAmt |
| Program Services | $779,660 | ProgramServicesAmt |
| Management And General | $191,029 | ManagementAndGeneralAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $446,457 | TotalAmt |
| Program Services | $358,595 | ProgramServicesAmt |
| Management And General | $87,862 | ManagementAndGeneralAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $36,000 | TotalAmt |
| Management And General | $36,000 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $88,010 | TotalAmt |
| Management And General | $88,010 | ManagementAndGeneralAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $222,464 | TotalAmt |
| Management And General | $222,464 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,339,325 | TotalAmt |
| Program Services | $5,198,928 | ProgramServicesAmt |
| Management And General | $140,397 | ManagementAndGeneralAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $251,020 | TotalAmt |
| Program Services | $211,944 | ProgramServicesAmt |
| Management And General | $39,076 | ManagementAndGeneralAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $401,627 | TotalAmt |
| Program Services | $339,106 | ProgramServicesAmt |
| Management And General | $62,521 | ManagementAndGeneralAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,075,344 | TotalAmt |
| Program Services | $2,596,609 | ProgramServicesAmt |
| Management And General | $478,735 | ManagementAndGeneralAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $557,657 | TotalAmt |
| Program Services | $470,847 | ProgramServicesAmt |
| Management And General | $86,810 | ManagementAndGeneralAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $190,599 | TotalAmt |
| Program Services | $160,929 | ProgramServicesAmt |
| Management And General | $29,670 | ManagementAndGeneralAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $77,637 | TotalAmt |
| Program Services | $77,637 | ProgramServicesAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $29,954,237 | TotalAmt |
| Program Services | $29,954,237 | ProgramServicesAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $399,137 | TotalAmt |
| Program Services | $338,436 | ProgramServicesAmt |
| Management And General | $60,701 | ManagementAndGeneralAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $205,996 | TotalAmt |
| Program Services | $173,929 | ProgramServicesAmt |
| Management And General | $32,067 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt |
|---|---|---|
| Provision for Loan Loss | $5,048,008 | $5,048,008 |
| Rebates/Collections | $2,558,298 | $2,558,298 |
| Consolidation Loan Fee | $729,744 | $729,744 |
| Bond Admin Expenses | $453,785 | $453,785 |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $59,200,848 | TotalAmt |
| Program Services | $55,794,519 | ProgramServicesAmt |
| Management And General | $3,406,329 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $34,728,339 | BOYAmt |
| EOY | $47,729,258 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,480,288 | BOYAmt |
| EOY | $921,654 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $718,681,483 | BOYAmt |
| EOY | $695,085,821 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $358,269 | BOYAmt |
| EOY | $497,996 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $14,106,365 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $11,072,169 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,819,858 | BOYAmt |
| EOY | $3,034,196 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $137,197,314 | BOYAmt |
| EOY | $156,525,499 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $10,207,523 | BOYAmt |
| EOY | $8,979,844 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $904,473,074 | BOYAmt |
| EOY | $912,774,268 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,298,376 | BOYAmt |
| EOY | $3,579,209 | EOYAmt |
Tax Exempt Bond Liabilities TaxExemptBondLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $29,968,850 | BOYAmt |
| EOY | $47,573,341 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $553,032,059 | BOYAmt |
| EOY | $529,000,832 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,343,281 | BOYAmt |
| EOY | $4,928,674 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $590,642,566 | BOYAmt |
| EOY | $585,082,056 | 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 | $313,830,508 | BOYAmt |
| EOY | $327,692,212 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $313,830,508 | BOYAmt |
| EOY | $327,692,212 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $904,473,074 | BOYAmt |
| EOY | $912,774,268 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | $2,003,774 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $11,857,930 | 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) |
|---|---|---|
| Consolidated Basis Fincl Stmt | Yes (X) | ConsolidatedBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | Yes (1) | FederalGrantAuditRequiredInd |
| Federal Grant Audit Performed | Yes (1) | FederalGrantAuditPerformedInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Publicly Supported Org509a2 | Yes (X) | PubliclySupportedOrg509a2Ind |
Gifts Grants Contris Rcvd509 GiftsGrantsContrisRcvd509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $56,000 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $85,000 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $113,000 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $542,652 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $40,000 | CurrentTaxYearAmt |
| Total | $836,652 | TotalAmt |
Gross Receipts Admissions GrossReceiptsAdmissionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $69,154,478 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $48,401,728 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $56,492,381 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $55,454,631 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $53,741,564 | CurrentTaxYearAmt |
| Total | $283,244,782 | TotalAmt |
Total509 Total509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $69,210,478 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $48,486,728 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $56,605,381 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $55,997,283 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $53,781,564 | CurrentTaxYearAmt |
| Total | $284,081,434 | 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 | $284,081,434 | PublicSupportTotal509Amt |
Gross Investment Income509 GrossInvestmentIncome509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $1,534,351 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $1,958,147 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $3,797,977 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $5,487,299 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $7,041,939 | CurrentTaxYearAmt |
| Total | $19,819,713 | TotalAmt |
Investment Income And UBTI InvestmentIncomeAndUBTIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $1,534,351 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $1,958,147 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $3,797,977 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $5,487,299 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $7,041,939 | CurrentTaxYearAmt |
| Total | $19,819,713 | TotalAmt |
Other Income509 OtherIncome509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus3 Years | $5,055,440 | CurrentTaxYearMinus3YearsAmt |
| Total | $5,055,440 | TotalAmt |
Total Support Calendar Year TotalSupportCalendarYearGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $70,744,829 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $55,500,315 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $60,403,358 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $61,484,582 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $60,823,503 | CurrentTaxYearAmt |
| Total | $308,956,587 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Support CY509 | 0.91950 | PublicSupportCY509Pct |
| Public Support PY509 | 0.93680 | PublicSupportPY509Pct |
| Investment Income CY | 0.06420 | InvestmentIncomeCYPct |
| Investment Income PY | 0.04650 | InvestmentIncomePYPct |
| Thirty Thr Pct Suprt Tests CY509 | Yes (X) | ThirtyThrPctSuprtTestsCY509Ind |
Form990 Schedule A Part VI Form990ScheduleAPartVIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Schedule A, Part III, Line 12, Explanation of Other Income: | FormAndLineReferenceDesc |
| Explanation | Gain on Swap Termination - 2021 Amount: $ 5,055,440. | ExplanationTxt |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
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 | $100,563 | GrantsOtherOrganizationsAmt |
| Direct Contact Legislators | 0 | DirectContactLegislatorsInd |
| Rallies Demonstrations | 0 | RalliesDemonstrationsInd |
| Other Activities | 0 | OtherActivitiesInd |
| Total Lobbying Expenditures | $100,563 | 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 participates in various professional associations, membership bodies, and industry groups. For the period covered by this Form 990, the Organization was a member of: - The Mid-Coast Association of Student Financial Aid Administrators; - The New Hampshire School Administrators Association; - The Concord Chamber of Commerce; - The American Bankers Association; - The New Jersey Universal Service Fund; - The DE-DC-MD Association of Student Aid Administrators; - The Massachusetts Association of Student Financial Aid Administrators; - The New York State Financial Aid Administrators Association; - The Education Finance Council; - The National College Attainment Network; - The New Hampshire Bankers Association; - The National Association of Student Financial Aid Administrators; and - The Eastern Association Student Financial Aid Administrators. The Organization's memberships with these various professional bodies allows the Organization to gain access to valuable benefits and resources that advance the Organization's charitable mission. However, it is possible that a portion of the dues paid to these organizations may have been available for lobbying purposes by the associations on behalf of their members in furtherance of their members' tax-exempt missions. Granite Edvance has not been made aware of what portion of the various dues paid to these organizations has been used for lobbying purposes (if any). Therefore, for transparency purposes, the Organization is disclosing 100% of the total dues paid to these associations; however, the actual amount of dues paid that would have been used for lobbying expenditures was likely far less than this reported total. | ExplanationTxt |
Schedule D IRS990ScheduleD
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $687,587 | OtherCostOrOtherBasisAmt |
| Book Value | $687,587 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $9,974,717 | OtherCostOrOtherBasisAmt |
| Depreciation | $8,880,971 | DepreciationAmt |
| Book Value | $1,093,746 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $3,444,061 | OtherCostOrOtherBasisAmt |
| Depreciation | $2,191,198 | DepreciationAmt |
| Book Value | $1,252,863 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $3,034,196 | TotalBookValueLandBuildingsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | Accrued Interest Payable | Desc |
| Amt | $4,928,674 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $4,928,674 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $67,993,553 | TotalRevEtcAuditedFinclStmtAmt |
| Net Unrealized Gains Invst | $11,857,930 | NetUnrealizedGainsInvstAmt |
| Other Revenue | $126,119 | OtherRevenueAmt |
| Revenue Not Reported | $11,984,049 | RevenueNotReportedAmt |
| Revenue Subtotal | $56,009,504 | RevenueSubtotalAmt |
| Investment Expenses Not Incld | $222,464 | InvestmentExpensesNotIncldAmt |
| Other Revenues Not Included | $4,972,654 | OtherRevenuesNotIncludedAmt |
| Revenue Not Reported Fincl Stmt | $5,195,118 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $61,204,622 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $54,131,849 | TotExpnsEtcAuditedFinclStmtAmt |
| Other Expenses Included | $126,119 | OtherExpensesIncludedAmt |
| Expenses Not Reported | $126,119 | ExpensesNotReportedAmt |
| Expenses Subtotal | $54,005,730 | ExpensesSubtotalAmt |
| Investment Expenses Not Incld2 | $222,464 | InvestmentExpensesNotIncld2Amt |
| Other Expenses Not Included | $4,972,654 | OtherExpensesNotIncludedAmt |
| Expenses Not Rpt Fincl Stmt | $5,195,118 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $59,200,848 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (5 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Part X, Line 2: | The Company 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 Company has evaluated the positions taken on its filed tax returns. The Company has concluded no uncertain income tax positions exist at September 30, 2025 or 2024. |
| Part XI, Line 2d - Other Adjustments: | Rental expenses 126,119. |
| Part XI, Line 4b - Other Adjustments: | Loan servicing fees, net expenses in financial statements 4,972,654. |
| Part XII, Line 2d - Other Adjustments: | Rental expenses 126,119. |
| Part XII, Line 4b - Other Adjustments: | Loan servicing fees, net expenses in financial statements 4,972,654. Prior year scholarship refunds |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable (2 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | IRC SectionIRCSectionDesc | Cash GrantCashGrantAmt | Non Cash AssistanceNonCashAssistanceAmt | Purpose Of GrantPurposeOfGrantTxt |
|---|---|---|---|---|---|---|---|
| University System of New Hampshire | |||||||
| 28 College Drive | Concord | NH | 03301 | GOV | $100,000 | $0 | To provide support to enrolled students with short-term financial needs. |
| Community College System of New Hampshire | |||||||
| 26 College Drive | Concord | NH | 03301 | GOV | $100,000 | $0 | To provide support to enrolled students with short-term financial needs. |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 2 | Total501c3OrgCnt |
| Total Other Org | 0 | TotalOtherOrgCnt |
Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Type | Scholarships | GrantTypeTxt |
| Recipient | 191 | RecipientCnt |
| Cash Grant | $777,741 | CashGrantAmt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Part I, Line 2: | FormAndLineReferenceDesc |
| Explanation | In order to ensure that the scholarship recipient is using the funds for direct educational expenses at the Title IV institutions, the following procedures are in place: 1) verification of attendance at a Title IV institution 2) checks are not released until we have received confirmation of enrollment for the academic period for which the scholarship was granted 3) once enrollment status is confirmed, a check made payable directly to the postsecondary institution and not the student. From time-to-time, the Organization may also provide grants to other charitable entities, non-profits, and government agencies. The Organization will only make such grants if the payments further the Organization's charitable purpose, primarily to benefit students and to advance higher education. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Substantiation Required | Yes (1) | 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 | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | 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 | Yes (1) | AnyNonFixedPaymentsInd |
| Initial Contract Exception | 0 | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (9 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Christiana Thornton | ||||||||||||||
| President & CEO | $385,427 | $0 | $121,529 | $0 | $300 | $0 | $12,711 | $0 | $33,873 | $0 | $553,840 | $0 | $0 | $0 |
| Scott Rogers | ||||||||||||||
| VP & CFO | $231,297 | $0 | $47,930 | $0 | $1,980 | $0 | $14,397 | $0 | $27,771 | $0 | $323,375 | $0 | $0 | $0 |
| John Flanders | ||||||||||||||
| VP & Chief Strategy/Lending Officer | $201,798 | $0 | $20,715 | $0 | $2,130 | $0 | $10,660 | $0 | $27,274 | $0 | $262,577 | $0 | $0 | $0 |
| Blessing Chimwanda | ||||||||||||||
| Gen. Counsel/Chief Compliance Off. | $211,414 | $0 | $21,275 | $0 | $1,230 | $0 | $6,981 | $0 | $1,510 | $0 | $242,410 | $0 | $0 | $0 |
| Erik Sobel | ||||||||||||||
| VP Technology Solutions & Security | $184,018 | $0 | $9,435 | $0 | $1,290 | $0 | $9,808 | $0 | $10,904 | $0 | $215,455 | $0 | $0 | $0 |
| Danielle Barrick | ||||||||||||||
| VP Chief Communications Officer | $177,597 | $0 | $12,574 | $0 | $1,230 | $0 | $8,539 | $0 | $1,614 | $0 | $201,554 | $0 | $0 | $0 |
| Kathy-Ann Maguire | ||||||||||||||
| VP People & Talent Management | $139,077 | $0 | $10,530 | $0 | $1,290 | $0 | $7,981 | $0 | $27,652 | $0 | $186,530 | $0 | $0 | $0 |
| Daniel Coughlan | ||||||||||||||
| VP Capital Markets/Asset Management | $141,117 | $0 | $10,372 | $0 | $1,290 | $0 | $7,796 | $0 | $20,191 | $0 | $180,766 | $0 | $0 | $0 |
| Christopher Nadeau | ||||||||||||||
| VP, Information Security & Business | $124,212 | $0 | $6,094 | $0 | $850 | $0 | $6,820 | $0 | $27,615 | $0 | $165,591 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Part I, Line 3 | The organization relies upon Form 990 data from similar non-profit private student loan providers and educational financing authorities, a compensation study, input from the Compensation Committee of the Board of Trustees and final approval by the full Board of Trustees to establish the President/ CEO compensation. |
| Part I, Line 7 | Employees who meet certain eligibility requirements are eligible to participate in an annual incentive program which provides for performance-based variable compensation. The plan is subject to review by the Board of Trustees and paid annually. |
Schedule K IRS990ScheduleK
Tax Exempt Bonds Issues TaxExemptBondsIssuesGrp (2 entries)
| Bond ReferenceBondReferenceCd | Bond Issuer EINBondIssuerEIN | CUSIPCUSIPNum | Bond IssuedBondIssuedDt | Issue PriceIssuePriceAmt | PurposePurposeDesc | DefeasedDefeasedInd | On Behalf Of IssuerOnBehalfOfIssuerInd | Pool FinancingPoolFinancingInd |
|---|---|---|---|---|---|---|---|---|
| New Hampshire Health and Education Facilities Authority | ||||||||
| A | 020279886 | 64461XJD8 | 2023-10-18 | $29,996,003 | Qualified student loan bonds | 0 | 0 | 0 |
| New Hampshire Health and Education Facilities Authority | ||||||||
| B | 020279886 | 64461XKM6 | 2024-10-24 | $21,616,281 | Qualified student loan bonds | 0 | 0 | 0 |
Tax Exempt Bonds Proceeds TaxExemptBondsProceedsGrp (2 entries)
| Bond ReferenceBondReferenceCd | RetiredRetiredAmt | Total ProceedsTotalProceedsAmt | In Reserve FundInReserveFundAmt | Issuance Costs From ProceedsIssuanceCostsFromProceedsAmt | Other Spent ProceedsOtherSpentProceedsAmt | Substantial CompletionSubstantialCompletionYr | Refunding Tax Exempt BondsRefundingTaxExemptBondsInd | Refunding Taxable BondsRefundingTaxableBondsInd | Final Allocation MadeFinalAllocationMadeInd | Adequate Books And Rec MaintAdequateBooksAndRecMaintInd |
|---|---|---|---|---|---|---|---|---|---|---|
| A | $2,396,003 | $29,996,003 | $593,800 | $599,920 | $28,802,283 | 2023 | 0 | 0 | Yes (1) | Yes (1) |
| B | $1,815,000 | $21,616,281 | $420,200 | $431,210 | $20,764,871 | 2024 | 0 | 0 | Yes (1) | Yes (1) |
Tax Exempt Bonds Private Bus Use TaxExemptBondsPrivateBusUseGrp (2 entries)
| Bond ReferenceBondReferenceCd | Owning Bond Financed PropertyOwningBondFinancedPropertyInd | Any Lease ArrangementsAnyLeaseArrangementsInd | Mgmt Contract Bond Fincd PropMgmtContractBondFincdPropInd | Any Research AgreementsAnyResearchAgreementsInd | Private Bus Use By OthersPrivateBusUseByOthersPct | Private Bus Concerning UBIPrivateBusConcerningUBIPct | Total Private Business UseTotalPrivateBusinessUsePct | Bond Iss Meet Prvt Sec Pymt TestBondIssMeetPrvtSecPymtTestInd | Change In Use Bond Financed PropChangeInUseBondFinancedPropInd | Procs Nonqualified Bond RemdtdProcsNonqualifiedBondRemdtdInd |
|---|---|---|---|---|---|---|---|---|---|---|
| A | 0 | 0 | 0 | 0 | 0.00000 | 0.00000 | 0.00000 | 0 | 0 | Yes (1) |
| B | 0 | 0 | 0 | 0 | 0.00000 | 0.00000 | 0.00000 | 0 | 0 | Yes (1) |
Tax Exempt Bonds Arbitrage TaxExemptBondsArbitrageGrp (2 entries)
| Bond ReferenceBondReferenceCd | Form8038 T FiledForm8038TFiledInd | Rebate Not Due YetRebateNotDueYetInd | Exception To RebateExceptionToRebateInd | No Rebate DueNoRebateDueInd | Variable Rate IssueVariableRateIssueInd | Hedge Identified In Bks And RecHedgeIdentifiedInBksAndRecInd | Gross Proceeds Invested In GICGrossProceedsInvestedInGICInd | Business Name Line2GICProviderName/BusinessNameLine2Txt | Term Of GICTermOfGICPct | Regulatory Safe Harbor StsfdRegulatorySafeHarborStsfdInd | Gross Proceeds InvestedGrossProceedsInvestedInd | Written Proc To Monitor ReqsWrittenProcToMonitorReqsInd |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| The | ||||||||||||
| A | 0 | Yes (1) | 0 | 0 | 0 | 0 | Yes (1) | Toronto-Dominion | 14.100000000000 | Yes (1) | 0 | Yes (1) |
| The | ||||||||||||
| B | 0 | Yes (1) | 0 | 0 | 0 | 0 | Yes (1) | Toronto-Dominion | 2.022000000000 | Yes (1) | 0 | Yes (1) |
Procedures Corrective Action ProceduresCorrectiveActionGrp (2 entries)
| Bond ReferenceBondReferenceCd | Procedures Corrective ActionProceduresCorrectiveActionInd |
|---|---|
| A | Yes (1) |
| B | Yes (1) |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (5 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Form 990, Part VI, Section A, line 2 | Christiana Thornton, President and CEO, and Board Trustee Paul Provost had a business relationship during the year. |
| Form 990, Part VI, Section B, line 11b | A draft of the annual Form 990 is reviewed by management and provided to each Trustee before filing. Trustees had the opportunity to review the form, ask questions and gain clarification as needed. |
| Form 990, Part VI, Section B, line 12c | The organization regularly and consistently monitors and enforces compliance with its Conflict-of-Interest Policy. The organization monitoring process includes the following measures: - All trustees and officers are required to annually receive, read, and sign a conflict-of-interest disclosure and certification form. - If any potential or actual conflict is revealed in the disclosures, or at any time throughout the year, the organization promptly and appropriately addresses the conflict, by the General Counsel and Chief Compliance Officer, conducting a pecuniary benefit transaction review and drafting a memo for the board of trustees to vote on the conflict, if applicable. - The affected individual is recused from discussions and voting, and the process for managing the conflict is documented in the Board meeting minutes. - Annual training is conducted for all covered personnel to reinforce their understanding of the conflict-of-interest policy and the importance of timely disclosure. |
| Form 990, Part VI, Section B, line 15 | During fiscal year 2025, an independent consultant firm was retained by the Board of Trustees ("Board") to conduct and 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 and other members of senior management. The report utilized multiple data sources, not limited to non-profit, public, and private financial institutions which are considered to compete or employ similar talent as the organization. The Compensation Committee of the Board of Trustees establishes compensation levels and approves overall officer compensation. The Compensation Committee relies upon an externally-prepared compensation study. |
| Form 990, Part VI, Section C, line 19 | The organization governing documents, conflict of interest policy, and financial statements are available to the public upon request. |
Schedule R IRS990ScheduleR
Id Disregarded Entities IdDisregardedEntitiesGrp (4 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Total IncomeTotalIncomeAmt | End Of Year AssetsEndOfYearAssetsAmt | Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt |
|---|---|---|---|---|---|---|---|---|---|
| EDvestinU Private Education Loan Issue No 1 LLC | |||||||||
| c/o Granite Edvance 3 Barrell Court | Concord | NH | 03302 | 475156259 | Purchase private student loans | DE | $2,157,759 | $21,432,057 | Granite Edvance Corporation |
| EdvestinU Private Education Loan Issue No 2 LLC | |||||||||
| c/o Granite Edvance 3 Barrell Court | Concord | NH | 03302 | 832287656 | Purchase private student loans | DE | $5,123,456 | $68,746,099 | Granite Edvance Corporation |
| EDvestinU Private Education Loan Issue No 3 LLC | |||||||||
| c/o Granite Edvance 3 Barrell Court | Concord | NH | 03302 | 861733223 | Purchase private student loans | DE | $10,136,336 | $134,047,859 | Granite Edvance Corporation |
| EDvestinU Private Education Loan Issue No 4 LLC | |||||||||
| c/o Granite Edvance 3 Barrell Court | Concord | NH | 03302 | 883061704 | Purchase private student loans | DE | $10,398,399 | $165,031,954 | Granite Edvance Corporation |