2011-10-14T14:31:32-04:00 2010-12-31 ERNST & YOUNG US LLP 111 MONUMENT CIRCLE SUITE 2600 INDIANAPOLIS IN 46204 990 2010-01-01 391090394 GREAT LAKES HIGHER EDUCATION CORPORATION GREA 6082461410 2401 International Lane Madison WI 53704 Richard D George 2011-10-06 3176817000 2010 2016-03-07 17:11:31Z Richard D George 2401 International Lane Madison WI 53704 69019080 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. 8 7 23 0 0 0 40000000 40000000 0 0 11677068 29019080 0 0 51677068 69019080 0 0 0 0 2641182 2880865 0 0 0 -2595515 -2840003 45667 40862 51631401 68978218 478197565 539502547 774549 729530 477423016 538773017 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 INFORMALLY APPROVED BY THE BOARD. false false 18000 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 POST-SECONDARY EDUCATION BY PROVIDING COST EFFECTIVE GUARANTY AGENCY SERVICES AND, PROSPECTIVELY, LOWER COST OR OTHERWISE UNAVAILABLE FUNDING FOR FEDERALLY GUARANTEED LOANS TO STUDENTS AND PARENTS AND/OR ALTERNATIVE NON-FEDERALLY GUARANTEED LOANS. 18000 true true 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 9 0 true 23 true false false false false false false false false false false X 8 7 false false false false false false false true true false false false true true true true true true true false X MS NANCY SEIFERT 6082461410 2401 INTERNATIONAL LANE MADISON WI 53704 X Emerson L Brumback 1 3.0 X 7000 0 0 James N Elliott 1 3.0 X 14000 0 0 David J Hanson 14 3.0 X 0 0 0 Janice Hesalroad 1 3.0 X 5667 0 0 Linda Hoeschler 1 3.0 X 7000 0 0 Alex J Pollock 1 3.0 X 8500 0 0 Richard A Weiss 1 3.0 X 4667 0 0 Richard D George 23 60.0 X X 547689 0 64313 Nancy Seifert 3 55.0 X 316929 0 50779 James Elvekrog 50.0 X 167524 0 34261 1078976 0 149353 3 false true false Ernst Young US LLP 875 East Wisconsin Avenue MILWAUKEE WI 53202 AUDIT AND TAX 172141 1 40000000 40000000 0 29019080 29019080 0 0 0 0 0 0 0 69019080 0 29019080 0 0 0 0 1223271 1223271 0 1209490 1209490 145092 145092 162843 162843 140169 87502 52667 0 3667 3667 125550 125550 0 0 0 48045 48045 5147 5147 84065 79233 4832 0 0 231037 217895 13142 49841 12070 37771 0 12986 7182 5804 0 0 70405 70405 0 Dues and Memberships 54437 54437 Service Agreement Fees 18185255 18185255 Miscellaneous 1251 1221 30 CORP SUPP FUNCT ALLOCATION -21711689 -20267817 -1443872 40862 18000 22862 0 923903 889 116707079 160930318 200312783 210380197 51652290 47224904 108601510 120966239 478197565 539502547 774549 729530 774549 729530 X 477423016 538773017 477423016 538773017 478197565 539502547 X 68978218 -7628217 X false true true X false X X X false false false Great Lakes Higher Education Guaranty Corportation 391853833 09 true true true 21692689 Northstar Guarantee Inc 411689095 09 true true true 23458175 2 45150864 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED INVESTMENT GL ED LOAN SVCS 47224904 F 47224904 LENDER FUNDING CONTRIB TRANSFR 118419274 ACCRUED INTEREST RECEIVABLE 1822212 COMPENSATION PLAN ASSETS 125121 INSURANCE RECEIVABLE 599632 120966239 0 COMPENSATION PLAN PAYABLE 724753 INTERCOMPANY PAYABLE 4777 729530 Schedule D, Part IX Other Assets $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 false true false false false false false false false Richard D George 23 268231 0 275572 0 3886 0 45066 0 19247 0 612002 0 0 0 Nancy Seifert 3 154999 0 160599 0 1331 0 31840 0 18939 0 367708 0 0 0 James Elvekrog 118378 0 48114 0 1032 0 20417 0 13844 0 201785 0 0 0 Supplemental Compensation Information Schedule J, Part I, Line 4b The following individuals participated in a supplemental nonqualified retirement plan: Richard George and Nancy Seifert. There were no new payments into and no payments out of the Plan. The supplemental nonqualified plan (optionit plan) was in effect for four years (1998-2001) and was offered by the employer to management and staff for retention purposes. Great Lakes Educational Loan Svcs Subsidiary/officer ovrlap 18185255 Services agreement fees false Great Lakes Educational Loan Svcs Subsidiary/officer ovrlap 419361 Intercompany Reimb. to GLELSI false Supplemental information Part VI, Question 11b Describe the Process the Organization Used to Review The Form 990: On an annual basis, the Chairman of the Board and the audit committee review the Form 990 prior to filing. At a subsequent Board of Director and/or Personnel Policy Committee meeting, the relevant Form 990 information is reviewed including the compensation schedules, and the conflicts of interest questionnaires are completed by each Director. Part VI, Question 12c Description of Process to Monitor Transactions for Conflicts of Interest: 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, Questions 15a & 15b Process for determining compensation: 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 VI, Question 19 Governing Documents, Conflict of Interest Policy, and Finanical statements: Federal tax law does not require that such documents be made publicly available. Documents are available upon specific request. Part VII, Section A Compensation Footnotes (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 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 VIII, Line 1d Contribution - Related Organization and Schedule B - Schedule of Contributors: In 2010, Operating Fund Contribution Transfers occurred from Great Lakes Higher Education Guaranty Corporation to Great Lakes Higher Education Corporation, related nonprofit 501(c)(3) Corporations. The total amount for 2010 was $40,000,000. The transfer is also reported on Schedule R, Part V, Line 2 (1). Part XI, Line 5 Other changes in Net Assets Change in Net Assets ($4,427,387) - change in investment in wholly owned subsidiary - Great Lakes Educational Loan Services, Inc. ($3,200,830) - Unrealized Gain / (Loss) on Investments ____________ ($7,628,217) Total Great Lakes Higher Educ Guaranty Corp 2401 International Lane Madison WI 53704 391853833 Gty Stdnt Lns WI 501(c)(3) 9 GLHEC Northstar Guarantee Inc 2401 International Lane Madison WI 53704 411689095 Stdt Rehab Ln MN 501(c)(3) 9 GLHEC Education Assistance Corporation 115 1st Avenue SW Aberdeen SD 57401 460344021 Stdnt Ln Svcs SD 501(c)(4) GLHEC Great Lakes Educational Loan Svcs Inc 2401 International Lane Madison WI 53704 391864035 Stdnt Ln Svcs WI NA C corp 142877873 65916721 1.00000 false false true false false false false false false true false true false false false true true true Great Lakes Higher Education Guaranty Corp c 40000000 Great Lakes Higher Education Guaranty Corp j 95000 Great Lakes Educational Loan Services Inc l 18185255 Great Lakes Higher Education Guaranty Corp p 21692689 Northstar Guarantee Inc q 23439175 Great Lakes Educational Loan Services Inc q 419361 Northstar Guarantee Inc r 56851 Great Lakes Educational Loan Services Inc r 20000000