Overview
What is New Hampshire Higher Education Loan Corporation?
The New Hampshire Higher Education Loan Corporation is a nonprofit organization based in Concord, New Hampshire. Established with a charitable and educational mission, the Corporation provides financial assistance primarily to eligible students attending colleges in New Hampshire or residents pursuing higher education outside of the state. With a team of 231 employees, the organization serves as an administrator and servicer of student loans, extending financial support to qualified borrowers.
Official website here: www.graniteedvance.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 83% (Three-Star out of Four Star rating)
The New Hampshire Higher Education Loan Corporation has achieved a Three-Star rating from Charity Navigator, reflecting an overall score of 83%. This rating indicates a solid level of accountability and finance management, which is entirely based on their Accountability & Finance score. The organization demonstrates strong governance practices, with a majority of independent board members and a robust set of policies in place.
Strengths include a high program expense ratio, indicating that a significant portion of their expenses is directed towards their mission-related programs. Additionally, the organization has established thorough financial oversight mechanisms, with no material diversion of assets reported. Their adherence to best practices for transparency is evident through the listing of essential policies and documents on their website.
However, there is a note of concern regarding their liabilities to assets ratio, which stands at 67.64%. While this is only one aspect of financial health, it suggests potential vulnerabilities that could impact the organization's stability in the long term. Overall, the New Hampshire Higher Education Loan Corporation appears to be a responsible and well-managed nonprofit organization, though attention to financial liabilities could strengthen their position further.
This AI summary has been generated from information found on Charity Navigator.
Is New Hampshire Higher Education Loan Corporation legitimate?
New Hampshire Higher Education Loan Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. New Hampshire Higher Education Loan Corporation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $1,222,644
Professional Fundraising Fees: $0
Other Salaries and Wages: $4,913,392
For more financial information, click here
Official website here: www.graniteedvance.org
What is the mission statement of New Hampshire Higher Education Loan Corporation?
The New Hampshire Higher Education Loan Corporation is dedicated to providing financial assistance to eligible students. As a charitable and educational organization, it primarily focuses on supporting students attending colleges within New Hampshire or those residing outside of the state. Its mission encompasses not only offering affordable financial aid but also serving as an administrator and servicer of student loans. The Corporation was established to help make higher education more accessible and affordable for a broader student population.
Official website here: www.graniteedvance.org
Who is the CEO of New Hampshire Higher Education Loan Corporation?
Christiana Thornton is the CEO of New Hampshire Higher Education Loan Corporation The CEO's salary of New Hampshire Higher Education Loan Corporation is $489,876 and their total compensation is $535,431.
Official website here: www.graniteedvance.org
What is the revenue of New Hampshire Higher Education Loan Corporation?
New Hampshire Higher Education Loan Corporation's revenue in 2024 was $63,939,847.
Official website here: www.graniteedvance.org
Who are the executives of New Hampshire Higher Education Loan Corporation and what are their salaries?
The average compensation at New Hampshire Higher Education Loan Corporation during 2024 was $57,887. There are 106 employees and 103 volunteers at New Hampshire Higher Education Loan Corporation.
Here are 23 key members and their salaries (New Hampshire Higher Education Loan Corporation's CEO's salary is $489,876 and their total compensation is $535,431):
- Compensation: $489,876
- Related: $0
- Other: $45,555
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- Compensation: $262,773
- Related: $0
- Other: $38,253
- Compensation: $206,414
- Related: $0
- Other: $38,380
- Compensation: $139,805
- Related: $0
- Other: $1,588
- Compensation: $188,316
- Related: $0
- Other: $24,233
- Compensation: $183,368
- Related: $0
- Other: $11,770
- Compensation: $143,687
- Related: $0
- Other: $27,931
- Compensation: $154,110
- Related: $0
- Other: $20,399
- Compensation: $142,091
- Related: $0
- Other: $33,874
- Compensation: $237,021
- Related: $0
- Other: $11,679
Official website here: www.graniteedvance.org
Where can I find the form 990 for New Hampshire Higher Education Loan Corporation?
New Hampshire Higher Education Loan Corporation's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.graniteedvance.org
Learn more at the official website: www.graniteedvance.org
Mission Statement of New Hampshire Higher Education Loan Corporation
The New Hampshire Higher Education Loan Corporation, a charitable and educational organization, is dedicated to providing financial assistance primarily to eligible students attending colleges within New Hampshire or residing out of state. The Corporation's mission is twofold: first, it offers low-cost financial aid to students in need; second, it functions as an administrator and servicer of student loans.
Established with the intention of furthering education, the New Hampshire Higher Education Loan Corporation aims to make higher learning more accessible and affordable for students. By providing financial assistance, this nonprofit organization enables students to pursue their academic goals without undue financial burden. The Corporation's commitment to charitable purposes extends beyond just offering loans; it also ensures that the financial aid it offers remains affordable and accessible to those who need it most.
The New Hampshire Higher Education Loan Corporation plays a crucial role in the educational landscape by offering financial assistance to eligible students. Its mission is driven by a deep-rooted belief that every individual should have the opportunity to attain a higher education. Through its financial aid programs, the organization empowers students to focus on their studies rather than being encumbered by financial concerns. The Corporation's dedication to its charitable and educational purpose has made a significant difference in the lives of countless students, enabling them to reach their full potential and build a better future for themselves.
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Impact
October, 2024
The New Hampshire Higher Education Loan Corporation plays a significant role in enhancing access to higher education by providing low-cost financial assistance to eligible borrowers. By focusing primarily on students attending college in New Hampshire or residents pursuing education out of state, it helps alleviate the financial burdens associated with higher education.
The Corporation's mission is centered on making education more accessible through financial support, which directly contributes to higher enrollment rates and increased opportunities for students. By serving as both a provider of financial assistance and a loan administrator/servicer, it streamlines the borrowing process, ensuring that students have the necessary resources to fund their education. This support is crucial in fostering a more educated workforce, ultimately benefiting the economy and community of New Hampshire.
This information is meant to be a general summary of New Hampshire Higher Education Loan Corporation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2024.
- Investment Income: $5,475,294
- Program Service Revenue: $55,454,631
- Gross Receipts: $91,215,043
Assets and Liabilities:
- Total Assets: $928,313,847
- Total Liabilities: $656,730,060
- Net Assets: $271,583,787
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Interest Student Loans
Revenue
$49,621,403
Loan Servicing Fees
Revenue
$5,347,606
Late Charges & Other
Revenue
$256,598
Federal Interest Benefit
Revenue
$229,024
Organization Details
Founding Year
1983
Principal Officer
Christiana Thornton
Website
www.graniteedvance.orgNTEE Category
Code: B820 - Education
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