Form990
Click to see attachment
Department of the Treasury
Internal Revenue Service
Return of Organization Exempt From Income Tax
Under section 501(c), 527, or 4947(a)(1) of the Internal Revenue Code (except black lung benefit trust or private foundation)

MediumBullet The organization may have to use a copy of this return to satisfy state reporting requirements.
OMB No. 1545-0047
2010
Open to Public Inspection
A For the calendar year, or tax year beginning 01-01-2010 and ending 12-31-2010
BCheck if applicable:
CName of organization
Great Lakes Higher Education Guaranty Corp
 
Doing Business As
 
 
Number and street (or P.O. box if mail is not delivered to street address)
2401 International Lane
 
Room/suite
City or town, state or country, and ZIP + 4
Madison, WI53704
D Employer identification number

39-1853833
E Telephone number

G Gross receipts $ 119,235,571
F Name and address of principal officer:
Richard D George
2401 International Lane
Madison,WI53704
I
Tax-exempt status: (   ) LeftBullet (insert no.) or
J
Website:MediumBullet
www.mygreatlakes.org
H(a)
Is this a group return for
affiliates?
H(b)
Are all affiliates included?
If "No," attach a list. (see instructions)
H(c)
Group exemption number MediumBullet  
K Form of organization:
 
L Year of formation: 1996
M State of legal domicile: WI
Part I
Summary
Activities & Governance 1 Briefly describe the organization’s mission or most significant activities: GREAT LAKES HIGHER EDUCATION GUARANTY CORPORATION OPERATES TO PROVIDE COST EFFECTIVE ACCESS TO POST-SECONDARY EDUCATION BY PROVIDING GUARANTY SERVICES TO BROADEN FEDERALLY GUARANTEED LOAN AVAILABILITY.
2 Check this box MediumBullet
3 Number of voting members of the governing body (Part VI, line 1a) .... 3 7
4 Number of independent voting members of the governing body (Part VI, line 1b) .... 4 6
5 Total number of individuals employed in calendar year 2010 (Part V, line 2a) ... 5 171
6 Total number of volunteers (estimate if necessary) .... 6 0
7a Total unrelated business revenue from Part VIII, column (C), line 12 .. 7a 0
b Net unrelated business taxable income from Form 990-T, line 34 .. 7b  
Revenues; Prior Year Current Year
8 Contributions and grants (Part VIII, line 1h) ......... 913,068 1,317,329
9 Program service revenue (Part VIII, line 2g) ......... 117,872,136 115,613,140
10 Investment income (Part VIII, column (A), lines 3, 4, and 7d ) .... 337,694 -62,430
11 Other revenue (Part VIII, column (A), lines 5, 6d, 8c, 9c, 10c, and 11e) 754,799 342,301
12 Total revenue—add lines 8 through 11 (must equal Part VIII, column (A), line 12)................... 119,877,697 117,210,340
Expenses; 13 Grants and similar amounts paid (Part IX, column (A), lines 1–3 )... 55,768,603 45,555,377
14 Benefits paid to or for members (Part IX, column (A), line 4) .... 0 0
15 Salaries, other compensation, employee benefits (Part IX, column (A), lines 5–10) 9,525,889 12,221,100
16a Professional fundraising fees (Part IX, column (A), line 11e).... 0 0
b Total fundraising expenses (Part IX, column (D), line 25) MediumBullet0    
17 Other expenses (Part IX, column (A), lines 11a–11d, 11f–24f).... 63,820,298 49,992,995
18 Total expenses. Add lines 13–17 (must equal Part IX, column (A), line 25) 129,114,790 107,769,472
19 Revenue less expenses. Subtract line 18 from line 12...... -9,237,093 9,440,868
Net Assets or Fund Balances; Beginning of Current Year End of Year
20 Total assets (Part X, line 16)............ 140,165,238 131,989,544
21 Total liabilities (Part X, line 26)............ 48,654,201 31,370,046
22 Net assets or fund balances. Subtract line 21 from line 20 ..... 91,511,037 100,619,498
Part II
Signature Block
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than officer) is based on all information of which preparer has any knowledge.
Sign Here
JumboBullet
Signature of officer Date
JumboBullet
Type or print name and title.
Paid Preparer's Use Only Preparer's
signatureBig Right Arrow 		Date
right pointing bullet image Preparer’s taxpayer identification number
(see instructions)
Firm’s name (or yours
if self-employed),
address, and ZIP + 4Big Right Arrow




 		EIN right pointing bullet image
Phone no. right pointing bullet image
May the IRS discuss this return with the preparer shown above? (see instructions) .........
For Privacy Act and Paperwork Reduction Act Notice, see the separate instructions.
Cat. No. 11282Y
Form 990 (2010)
Form 990 (2010)
Page 2
Part III
Statement of Program Service Accomplishments
Check if Schedule O contains a response to any question in this Part III . . . . . . . . . .
1
Briefly describe the organization’s mission: Great Lakes Higher Education Guaranty Corporation operates to provide FOR COST EFFECTIVE ENABLEMENT OF ACCESS TO POST-SECONDARY EDUCATION BY PROVIDING FULL-RANGE GUARANTY AGENCY SERVICES TO FUNDING SOURCES, EDUCATIONAL INSTITUTIONS, CHARITABLE ORGANIZATIONS, AND OTHERS TO BROADEN FEDERALLY GUARANTEED LOAN AVAILABILITY AND PURSUIT OF AND PARTICIPATION IN POST-SECONDARY EDUCATION IN ACCORDANCE WITH THE HIGHER EDUCATION ACT OF 1965, AS AMENDED. THIS MISSION STATEMENT HAS BEEN REVIEWED, ACKNOWLEDGED AND INFORMALLY APPROVED BY THE BOARD.
2
Did the organization undertake any significant program services during the year which were not listed on
the prior Form 990 or 990-EZ? ....................
If “Yes,” describe these new services on Schedule O.
3
Did the organization cease conducting, or make significant changes in how it conducts, any program services? ..........................
If “Yes,” describe these changes on Schedule O.
4
Describe the exempt purpose achievements for each of the organization’s three largest program services by expenses.
Section 501(c)(3) and 501(c)(4) organizations and section 4947(a)(1) trusts are required to report the amount of grants and allocations to others, the total expenses, and revenue, if any, for each program service reported.
4a (Code:   ) (Expenses $ 103,573,426 including grants of $ 45,555,377 ) (Revenue $ 115,613,140 )
Great Lakes Higher Education Guaranty Corporation operates to provide for cost effective enablement of access to post-secondary education by providing full-range guaranty agency services to funding sources, educational institutions, charitable organizations, and others to broaden federally guaranteed loan availability and pursuit of and participation in post-secondary education in accordance with the Higher Education Act of 1965, As Amended.
4b (Code:   ) (Expenses $   including grants of $   ) (Revenue $   )
4c (Code:   ) (Expenses $   including grants of $   ) (Revenue $   )
4d Other program services. (Describe in Schedule O.)
(Expenses $   including grants of $   ) (Revenue $   )
4e Total program service expensesMediumBullet$ 103,573,426
Form 990 (2010)
Form 990 (2010)
Page 3
Part IV
Checklist of Required Schedules
Yes
No
1
Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)? If “Yes,” complete Schedule AClick to see attachment.....................
1
Yes
 
2
Is the organization required to complete Schedule B, Schedule of Contributors? Click to see attachment........
2
Yes
 
3
Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office? If “Yes,” complete Schedule C, Part I..........
3
 
No
4
Section 501(c)(3) organizations. Did the organization engage in lobbying activities? If “Yes,” complete Schedule C,
Part II.........................
4
 
No
5
Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or similar amounts as defined in Revenue Procedure 98-19? If “Yes,” complete Schedule C, Part III........................
5
 
 
6
Did the organization maintain any donor advised funds or any similar funds or accounts where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts? If “Yes,” complete
Schedule D, Part IClick to see attachment.......................
6
 
No
7
Did the organization receive or hold a conservation easement, including easements to preserve open space,
the environment, historic land areas or historic structures? If “Yes,” complete Schedule D, Part IIClick to see attachment...
7
 
No
8
Did the organization maintain collections of works of art, historical treasures, or other similar assets? If “Yes,” complete Schedule D, Part III Click to see attachment....................
8
 
No
9
Did the organization report an amount in Part X, line 21; serve as a custodian for amounts not listed in Part X; or provide credit counseling, debt management, credit repair, or debt negotiation services? If “Yes,”
complete Schedule D, Part IVClick to see attachment...................
9
Yes
 
10
Did the organization, directly or through a related organization, hold assets in term, permanent,or quasi-endowments? If “Yes,” complete Schedule D, Part VClick to see attachment
10
 
No
11
If the organization’s answer to any of the following questions is ‘Yes,’ then complete Schedule D, Parts VI, VII, VIII, IX, or X as applicable:
a
Did the organization report an amount for land, buildings, and equipment in Part X, line10? If “Yes,” complete Schedule D, Part VI.Click to see attachment
11a
Yes
 
b
Did the organization report an amount for investments—other securities in Part X, line 12 that is 5% or more of its total assets reported in Part X, line 16? If “Yes,” complete Schedule D, Part VII.Click to see attachment
11b
 
No
c
Did the organization report an amount for investments—program related in Part X, line 13 that is 5% or more of its total assets reported in Part X, line 16? If “Yes,” complete Schedule D, Part VIII.Click to see attachment
11c
 
No
d
Did the organization report an amount for other assets in Part X, line 15 that is 5% or more of its total assets reported in Part X, line 16? If “Yes,” complete Schedule D, Part IX.Click to see attachment
11d
Yes
 
e
Did the organization report an amount for other liabilities in Part X, line 25? If “Yes,” complete Schedule D, Part X.Click to see attachment
11e
Yes
 
f
Did the organization’s separate or consolidated financial statements for the tax year include a footnote that addresses the organization’s liability for uncertain tax positions under FIN 48 (ASC 740)? If “Yes,” complete Schedule D, Part X.Click to see attachment
11f
 
No
12a
Did the organization obtain separate, independent audited financial statements for the tax year? If “Yes,” complete Schedule D, Parts XI, XII, and XIII Click to see attachment
12a
 
No
b
Was the organization included in consolidated, independent audited financial statements for the tax year? If “Yes,” and if the organization answered ‘No’ to line 12a, then completing Schedule D, Parts XI, XII, and XIII is optional Click to see attachment
12b
Yes
 
13
Is the organization a school described in section 170(b)(1)(A)(ii)? If “Yes,” complete Schedule E
13
 
No
14a
Did the organization maintain an office, employees, or agents outside of the United States?....
14a
 
No
b
Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, and program service activities outside the United States? If “Yes,” complete Schedule F, Part I.........
14b
 
No
15
Did the organization report on Part IX, column (A), line 3, more than $5,000 of grants or assistance to any organization or entity located outside the U.S.? If “Yes,” complete Schedule F, Part II..
15
 
No
16
Did the organization report on Part IX, column (A), line 3, more than $5,000 of aggregate grants or assistance to individuals located outside the U.S.? If “Yes,” complete Schedule F, Part III..
16
 
No
17
Did the organization report a total of more than $15,000, of expenses for professional fundraising services on Part IX, column (A), lines 6 and 11e? If “Yes,” complete Schedule G, Part I
17
 
No
18
Did the organization report more than $15,000 total of fundraising event gross income and contributions on Part VIII, lines 1c and 8a? If “Yes,” complete Schedule G, Part II..........
18
 
No
19
Did the organization report more than $15,000 of gross income from gaming activities on Part VIII, line 9a? If “Yes,” complete Schedule G, Part III...................
19
 
No
Form 990 (2010)
Form 990 (2010)
Page 4
Part IV
Checklist of Required Schedules (continued)
20a
Did the organization operate one or more hospitals? If “Yes,” complete Schedule H.....
20a
 
No
b
Did the organization attach its audited financial statement to this return? Note: All Form 990 filers that operate one or more hospitals must attach audited financial statements. .....
20b
 
 
21
Did the organization report more than $5,000 of grants and other assistance to governments and organizations in the United States on Part IX, column (A), line 1? If “Yes,” complete Schedule I, Parts I and II.. Click to see attachment
21
Yes
 
22
Did the organization report more than $5,000 of grants and other assistance to individuals in the United States on Part IX, column (A), line 2? If “Yes,” complete Schedule I, Parts I and III..... Click to see attachment
22
 
No
23
Did the organization answer “Yes” to Part VII, Section A, questions 3, 4, or 5, about compensation of the organization’s current and former officers, directors, trustees, key employees, and highest compensated employees? If “Yes,” complete Schedule J................ Click to see attachment
23
Yes
 
24a
Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of the last day of the year, that was issued after December 31, 2002? If “Yes,” answer questions 24b–24d and complete Schedule K. If “No,” go to line 25................
24a
 
No
b
Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?...
24b
 
 
c
Did the organization maintain an escrow account other than a refunding escrow at any time during the year
to defease any tax-exempt bonds?......................
24c
 
 
d
Did the organization act as an “on behalf of” issuer for bonds outstanding at any time during the year?...
24d
 
 
25a
Section 501(c)(3) and 501(c)(4) organizations. Did the organization engage in an excess benefit transaction with a disqualified person during the year? If “Yes,” complete Schedule L, Part I...... Click to see attachment
25a
 
No
b
Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, and that the transaction has not been reported on any of the organization’s prior Forms 990 or 990-EZ? If “Yes,” complete Schedule L, Part I................ Click to see attachment
25b
 
No
26
Was a loan to or by a current or former officer, director, trustee, key employee, highly compensated employee, or disqualified person outstanding as of the end of the organization’s tax year? If “Yes,” complete Schedule L,
Part II........................... Click to see attachment
26
 
No
27
Did the organization provide a grant or other assistance to an officer, director, trustee, key employee, substantial contributor, or a grant selection committee member, or to a person related to such an individual? If “Yes,” complete Schedule L, Part III............... Click to see attachment
27
 
No
28
Was the organization a party to a business transaction with one of the following parties? (see Schedule L, Part IV instructions for applicable filing thresholds, conditions, and exceptions):
a
A current or former officer, director, trustee, or key employee? If “Yes,” complete Schedule L, Part IV ......................... Click to see attachment
28a
 
No
b
A family member of a current or former officer, director, trustee, or key employee? If “Yes,”
complete Schedule L, Part IV................... Click to see attachment
28b
 
No
c
An entity of which a current or former officer, director, trustee, or key employee (or a family member thereof) was an officer, director, trustee, or owner? If “Yes,” complete Schedule L, Part IV.. Click to see attachment
28c
Yes
 
29
Did the organization receive more than $25,000 in non-cash contributions? If “Yes,” complete Schedule M
29
 
No
30
Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions? If “Yes,” complete Schedule M............
30
 
No
31
Did the organization liquidate, terminate, or dissolve and cease operations? If “Yes,” complete Schedule N,
Part I...........................
31
 
No
32
Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets? If “Yes,” complete Schedule N, Part II....................... Click to see attachment
32
Yes
 
33
Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections 301.7701-2 and 301.7701-3? If “Yes,” complete Schedule R, Part I........ Click to see attachment
33
 
No
34
Was the organization related to any tax-exempt or taxable entity? If “Yes,” complete Schedule R, Parts II, III, IV, and V, line 1..................... Click to see attachment
34
Yes
 
35
Is any related organization a controlled entity within the meaning of section 512(b)(13)? .....
35
Yes
 
a
Did the organization receive any payment from or engage in any transaction with a controlled entity within the meaning of section 512(b)(13)? If “Yes,” complete Schedule R, Part V, line 2... Click to see attachment
36
Section 501(c)(3) organizations. Did the organization make any transfers to an exempt non-charitable related organization? If “Yes,” complete Schedule R, Part V, line 2........... Click to see attachment
36
 
No
37
Did the organization conduct more than 5% of its activities through an entity that is not a related organization and that is treated as a partnership for federal income tax purposes? If “Yes,” complete Schedule R, Part VIClick to see attachment
37
 
No
38
Did the organization complete Schedule O and provide explanations in Schedule O for Part VI, lines 11 and 19? Note. All Form 990 filers are required to complete Schedule O. ............
38
Yes
 
Form 990 (2010)
Form 990 (2010)
Page 5
Part V
Statements Regarding Other IRS Filings and Tax Compliance
Check if Schedule O contains a response to any question in this Part V . . . . . . . . . .
Yes
No
1a
Enter the number reported in Box 3 of Form 1096. Enter -0- if not applicable. .......
1a
71,186
b
Enter the number of Forms W-2G included in line 1a. Enter -0- if not applicable.
1b
0
c
Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners? ..................
1c
Yes
 
2a
Enter the number of employees reported on Form W-3, Transmittal of Wage and Tax Statements filed for the calendar year ending with or within the year covered by this return .....................
2a
171
b
If at least one is reported on line 2a, did the organization file all required federal employment tax returns?

Note. If the sum of lines 1a and 2a is greater than 250, you may be required to e-file. (see instructions)
2b
Yes
 
3a
Did the organization have unrelated business gross income of $1,000 or more during the year?.............................
3a
 
No
b
If “Yes,” has it filed a Form 990-T for this year? If “No,” provide an explanation in Schedule O.....
3b
 
 
4a
At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign country (such as a bank account or securities account)?.......................
4a
 
No
b
If "Yes," enter the name of the foreign country: MediumBullet
See instructions for filing requirements for Form TD F 90-22.1, Report of Foreign Bank and Financial Accounts.
5a
Was the organization a party to a prohibited tax shelter transaction at any time during the tax year?..
5a
 
No
b
Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?
5b
 
No
c
If “Yes” to line 5a or 5b, did the organization file Form 8886-T? ........
5c
 
 
6a
Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization solicit any contributions that were not tax deductible?..........
6a
 
No
b
If “Yes,” did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible?........................
6b
 
 
7
Organizations that may receive deductible contributions under section 170(c).
a
Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payor?....................
7a
 
No
b
If “Yes,” did the organization notify the donor of the value of the goods or services provided?.....
7b
 
 
c
Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282?...........................
7c
 
No
d
If “Yes,” indicate the number of Forms 8282 filed during the year ....
7d
 
e
Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?..........................
7e
 
No
f
Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract?..
7f
 
No
g
If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required?...................
7g
 
 
h
If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C?...............
7h
 
 
8
Sponsoring organizations maintaining donor advised funds and section 509(a)(3) supporting organizations. Did the supporting organization, or a donor advised fund maintained by a sponsoring organization, have excess business holdings at any time during the year?................
8
 
 
9
Sponsoring organizations maintaining donor advised funds.
a
Did the organization make any taxable distributions under section 4966?.........
9a
 
 
b
Did the organization make a distribution to a donor, donor advisor, or related person?......
9b
 
 
10
Section 501(c)(7) organizations. Enter:
a
Initiation fees and capital contributions included on Part VIII, line 12 ...
10a
 
b
Gross receipts, included on Form 990, Part VIII, line 12, for public use of club facilities
10b
 
11
Section 501(c)(12) organizations. Enter:
a
Gross income from members or shareholders .........
11a
 
b
Gross income from other sources (Do not net amounts due or paid to other sources against amounts due or received from them.) ........
11b
 
12a
Section 4947(a)(1) non-exempt charitable trusts. Is the organization filing Form 990 in lieu of Form 1041?
12a
 
 
b
If “Yes,” enter the amount of tax-exempt interest received or accrued during the year.
12b
 
13
Section 501(c)(29) qualified nonprofit health insurance issuers.
a
Is the organization licensed to issue qualified health plans in more than one state?
Note. All 501(c)(29) organizations must list in Schedule O each state in which they are licensed to issue qualified health plans, the amount of reserves required by each state, and the amount of reserves the organization allocated to each state.
13a
 
 
b
Enter the aggregate amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans.
13b
 
c
Enter the aggregate amount of reserves on hand.
13c
 
14a
Did the organization receive any payments for indoor tanning services during the tax year?.....
14a
 
 
b
If "Yes," has it filed a Form 720 to report these payments? If “No,” provide an explanation in Schedule O..
14b
 
 
Form 990 (2010)
Form 990 (2010)
Page 6
Part VI
Governance, Management, and Disclosure For each “Yes” response to lines 2 through 7b below, and for a “No” response to lines 8a, 8b, or 10b below, describe the circumstances, processes, or changes in Schedule O. See instructions.
Check if Schedule O contains a response to any question in this Part VI . . . . . . . . . .
Section A. Governing Body and Management
Yes
No
1a
Enter the number of voting members of the governing body at the end of the tax year ..............
1a
7
b
Enter the number of voting members included in line 1a, above, who are independent .................
1b
6
2
Did any officer, director, trustee, or key employee have a family relationship or a business relationship with any other officer, director, trustee, or key employee? .................
2
 
No
3
Did the organization delegate control over management duties customarily performed by or under the direct supervision of officers, directors or trustees, or key employees to a management company or other person? ..
3
 
No
4
Did the organization make any significant changes to its governing documents since the prior Form 990 was filed?
4
 
No
5
Did the organization become aware during the year of a significant diversion of the organization’s assets? .
5
 
No
6
Does the organization have members or stockholders? ................
6
Yes
 
7a
Does the organization have members, stockholders, or other persons who may elect one or more members of the governing body? .........................
7a
Yes
 
b
Are any decisions of the governing body subject to approval by members, stockholders, or other persons? ..
7b
Yes
 
8
Did the organization contemporaneously document the meetings held or written actions undertaken during the year by the following:
a
The governing body? .........................
8a
Yes
 
b
Each committee with authority to act on behalf of the governing body? ............
8b
Yes
 
9
Is there any officer, director, trustee, or key employee listed in Part VII, Section A, who cannot be reached at the organization’s mailing address? If “Yes,” provide the names and addresses in Schedule O .....
9
 
No
Section B. Policies (This Section B requests information about policies not required by the Internal
Revenue Code.)
Yes
No
10a
Does the organization have local chapters, branches, or affiliates? ............
10a
 
No
b
If “Yes,” does the organization have written policies and procedures governing the activities of such chapters, affiliates, and branches to ensure their operations are consistent with those of the organization? ....
10b
 
 
11a
Has the organization provided a copy of this Form 990 to all members of its governing body before filing the form?
11a
 
No
b
Describe in Schedule O the process, if any, used by the organization to review the Form 990. .....
12a
Does the organization have a written conflict of interest policy? If “No,” go to line 13.......
12a
Yes
 
b
Are officers, directors or trustees, and key employees required to disclose annually interests that could give rise to conflicts? ...........................
12b
Yes
 
c
Does the organization regularly and consistently monitor and enforce compliance with the policy? If “Yes,” describe in Schedule O how this is done ....................
12c
Yes
 
13
Does the organization have a written whistleblower policy? ...............
13
Yes
 
14
Does the organization have a written document retention and destruction policy? .........
14
Yes
 
15
Did the process for determining compensation of the following persons include a review and approval by independent persons, comparability data, and contemporaneous substantiation of the deliberation and decision?
a
The organization’s CEO, Executive Director, or top management official ...........
15a
 
No
b
Other officers or key employees of the organization ................
15b
Yes
 
If "Yes" to line a or b, describe the process in Schedule O. (See instructions.)
16a
Did the organization invest in, contribute assets to, or participate in a joint venture or similar arrangement with a taxable entity during the year? ......................
16a
 
No
b
If “Yes,” has the organization adopted a written policy or procedure requiring the organization to evaluate its participation in joint venture arrangements under applicable federal tax law, and taken steps to safeguard the organization’s exempt status with respect to such arrangements? ............
16b
 
 
Section C. Disclosure
17
List the States with which a copy of this Form 990 is required to be filedMediumBullet
18
Section 6104 requires an organization to make its Form 1023 (or 1024 if applicable), 990, and 990-T (501(c)(3)s only) available for public inspection. Indicate how you make these available. Check all that apply.
19
Describe in Schedule O whether (and if so, how), the organization makes its governing documents, conflict of interest policy, and financial statements available to the public.
20
State the name, physical address, and telephone number of the person who possesses the books and records of the organization: MediumBullet
NANCY SEIFERT
2401 INTERNATIONAL LANE
Madison,WI53704
(608) 246-1410
Form 990 (2010)
Form 990 (2010)
Page 7
Part VII
Compensation of Officers, Directors,Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors
Check if Schedule O contains a response to any question in this Part VII . . . . . . . . . .
Section A. Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees
1a Complete this table for all persons required to be listed. Report compensation for the calendar year ending with or within the organization’s tax year.
RoundBullet List all of the organization’s current officers, directors, trustees (whether individuals or organizations), regardless of amount
of compensation, and current key employees. Enter -0- in columns (D), (E), and (F) if no compensation was paid.

RoundBullet List all of the organization’s current key employees, if any. See instructions for definition of "key employee."
RoundBullet List the organization’s five current highest compensated employees (other than an officer, director, trustee or key employee)
who received reportable compensation (Box 5 of Form W-2 and/or Box 7 of Form 1099-MISC) of more than $100,000 from the
organization and any related organizations.

RoundBullet List all of the organization’s former officers, key employees, or highest compensated employees who received more than $100,000
of reportable compensation from the organization and any related organizations.

RoundBullet List all of the organization’s former directors or trustees that received, in the capacity as a former director or trustee of the
organization, more than $10,000 of reportable compensation from the organization and any related organizations.

List persons in the following order: individual trustees or directors; institutional trustees; officers; key employees; highest
compensated employees; and former such persons.
Check this box if neither the organization nor any related organizations compensated any current or former officer, director, or trustee.
(A)
Name and Title 		(B)
Average hours per week (describe hours for related organizations in Schedule O) 		(C)
Position (check all that apply) 		(D)
Reportable compensation from the organization (W- 2/1099-MISC) 		(E)
Reportable compensation from related organizations (W- 2/1099-MISC) 		(F)
Estimated amount of other compensation from the organization and related organizations
Individual Trustee or Director; Institutional Trustee; Officer; Key Employee; Highest compensated employee; Former;
(1) Emerson L Brumback 1
Director/Committee Chairman
 2.0 X           7,000 0 0
(2) David J Hanson 14
Director/Secretary
 2.0 X           0 0 0
(3) Janice Hesalroad 1
Director
 2.0 X           5,667 0 0
(4) Thomas A Scarlett 1
Director
 2.0 X           14,000 0 0
(5) Cynthia Walsh 1
Director
 2.0 X           17,000 0 0
(6) Richard A Weiss 1
Director
 2.0 X           4,667 0 0
(7) Richard D George 23
Chairman/Pres/Ceo/Treasurer
 1.0 X   X       0 547,689 64,313
(8) Nancy Seifert 3
CFO/Asst Secretary
 1.0     X       0 316,929 50,779
(9) Clark Wold
Exe VP/Chief Operating Officer
 50.0     X       232,894 0 45,604
(10) Amy Kobishop
Chief Guaranty Officer
 50.0     X       272,461 0 29,836
(11) Beth Erickson
VP - Repayment Solutions
 50.0     X       188,313 0 37,398
(12) Jacqueline Fairbairn
VP - Policy/Regul Compliance
 50.0     X       138,408 0 41,887
(13) Steven Schmidt
Mgr - Product Dev & Marketing
 45.0         X   111,273 0 31,166








Form 990 (2010)
Form 990 (2010)
Page 8
Part VII
Section A. Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees (continued)
(A)
Name and Title 		(B)
Average hours per week (describe hours for related organizations in Schedule O) 		(C)
Position (check all that apply) 		(D)
Reportable compensation from the organization (W- 2/1099-MISC) 		(E)
Reportable compensation from related organizations (W- 2/1099-MISC) 		(F)
Estimated amount of other compensation from the organization and related organizations
Individual Trustee or Director; Institutional Trustee; Officer; Key Employee; Highest compensated employee; Former;


























1b Sub-Total................MediumBullet
c Total from continuation sheets to Part VII, Section A....MediumBullet
d Total (add lines 1b and 1c)............MediumBullet 991,683 864,618 300,983
2
Total number of individuals (including but not limited to those listed above) who received more than $100,000 in reportable compensation from the organizationMediumBullet5
Yes
No
3
Did the organization list any former officer, director or trustee, key employee, or highest compensated employee on line 1a? If “Yes,” complete Schedule J for such individual .............
3
 
No
4
For any individual listed on line 1a, is the sum of reportable compensation and other compensation from the organization and related organizations greater than $150,000? If “Yes,” complete Schedule J for such individual...........................
4
Yes
 
5
Did any person listed on line 1a receive or accrue compensation from any unrelated organization or individual for services rendered to the organization? If “Yes,” complete Schedule J for such person .....
5
 
No
Section B. Independent Contractors
1
Complete this table for your five highest compensated independent contractors that received more than $100,000 of compensation from the organization.
(A)
Name and business address 		(B)
Description of services 		(C)
Compensation
Diversified Collection Services In
333 N Canyons Pkwy Suite 100
LIVERMORE,CA94551 		Collection Services 18,015,170
NCO
PO Box 935
BROOKFIELD,WI53005 		Collection/Location 773,219
Badger Press Inc
100 East Blackhawk Dr
FORT ATKINSON,WI53538 		Printing 330,319
XAP Corporation
3534 Hayden Avenue
CULVER CITY,CA90232 		System Oper/Mainten. 250,808
Qualitemps
PO BOX 552
MADISON,WI537010552 		Temperory Office Svs 209,360
2
Total number of independent contractors (including but not limited to those listed above) who received more than $100,000 in compensation from the organization MediumBullet9
Form 990 (2010)
Form 990 (2010)
Page 9
Part VIII
Statement of Revenue
(A)
Total revenue 		(B)
Related or
exempt
function
revenue 		(C)
Unrelated
business
revenue 		(D)
Revenue
excluded from
tax under sections
512, 513, or 514
Contributions, gifts, grants and other similar amounts 1a Federated campaigns..1a  
b Membership dues....1b  
c Fundraising events....1c  
d Related organizations...1d  
e Government grants (contributions)1e 1,317,329
f All other contributions, gifts, grants, and
similar amounts not included above1f 		 
g Noncash contributions included in lines 1a-1f:$  
h Total. Add lines 1a-1f.......MediumBullet 1,317,329
Program Service Revenue Business Code
2a Collections & Rehabilitations 900,099 61,758,718 61,758,718    
b Account Maintenance Fees 900,099 28,461,116 28,461,116    
c Issuance Fees 900,099 12,039,898 12,039,898    
d DEFAULT AVERSION FEES 900,099 13,258,408 13,258,408    
e Rental Income 532,000 95,000 95,000    
f All other program service revenue .        
g Total. Add lines 2a–2f........MediumBullet 115,613,140
Other Revenue 3 Investment income (including dividends, interest
and other similar amounts).....MediumBullet 136,910     136,910
4 Income from investment of tax-exempt bond proceeds..MediumBullet 0      
5 Royalties............MediumBullet 0      
(i) Real (ii) Personal
6a Gross Rents 2,022,000  
b Less: rental expenses 1,825,891  
c Rental income or (loss) 196,109  
d Net rental income or (loss).......MediumBullet 196,109     196,109
(i) Securities (ii) Other
7a Gross amount from sales of assets other than inventory    
b Less: cost or other basis and sales expenses   199,340
c Gain or (loss)   -199,340
d Net gain or (loss)..........MediumBullet -199,340     -199,340
8a Gross income from fundraising events (not including
$  
of contributions reported on line 1c). See Part IV, line 18 ...
a  
b Less: direct expenses ...b  
c Net income or (loss) from fundraising events..MediumBullet 0    
9a Gross income from gaming activities.
See Part IV, line 19 ...
a  
b Less: direct expenses ...b  
c Net income or (loss) from gaming activities...MediumBullet 0      
10a Gross sales of inventory, less
returns and allowances .
a  
b Less: cost of goods sold ..b  
c Net income or (loss) from sales of inventory..MediumBullet 0      
Miscellaneous Revenue Business Code
11a EAC ELM Redemption 900,099 100,000     100,000
b Dakota Corp Administrative Services Fee 900,099 38,000     38,000
c ALL OTHER REVENUE 900,099 8,192     8,192
d All other revenue ....        
e Total. Add lines 11a–11d ......MediumBullet 146,192
12 Total revenue. See Instructions....MediumBullet 117,210,340 115,613,140 0 279,871
Form 990 (2010)
Form 990 (2010)
Page 10
Part IX
Statement of Functional Expenses
Section 501(c)(3) and 501(c)(4) organizations must complete all columns. All other organizations must complete column (A) but are not required to complete columns (B), (C), and (D).
Do not include amounts reported on lines 6b,
7b, 8b, 9b, and 10b of Part VIII. 		(A)
Total expenses 		(B)
Program service expenses 		(C)
Management and general expenses 		(D)
Fundraising expenses
1 Grants and other assistance to governments and organizations in the U.S. See Part IV, line 21 45,555,377 45,555,377
2 Grants and other assistance to individuals in the U.S. See Part IV, line 22 0  
3 Grants and other assistance to governments, organizations, and individuals outside the U.S. See Part IV, lines 15 and 16 0  
4 Benefits paid to or for members 0  
5 Compensation of current officers, directors, trustees, and key employees .... 1,008,284   1,008,284  
6 Compensation not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B) .... 0      
7 Other salaries and wages 8,376,239 8,376,239    
8 Pension plan contributions (include section 401(k) and section 403(b) employer contributions) .... 837,972 837,972    
9 Other employee benefits ....... 1,277,035 1,277,035    
10 Payroll taxes ........... 721,570 682,307 39,263  
11 Fees for services (non-employees):        
a Management ...... 0      
b Legal ......... 73,885   73,885  
c Accounting ........... 75,545   75,545  
d Lobbying ........... 0      
e Professional fundraising. See Part IV, line 17.. 0  
f Investment management fees ...... 0      
g Other .......... 243,640 243,640    
12 Advertising and promotion .... 235,657 235,657    
13 Office expenses ....... 1,407,606 1,407,606    
14 Information technology ...... 0      
15 Royalties .. 0      
16 Occupancy ........... 336,717 336,717    
17 Travel ............ 252,813 246,861 5,952  
18 Payments of travel or entertainment expenses for any federal, state, or local public officials ...... 0      
19 Conferences, conventions, and meetings .... 28,570 28,570    
20 Interest ........... 0      
21 Payments to affiliates ....... 0      
22 Depreciation, depletion, and amortization ..... 126,123 126,123    
23 Insurance .............. 0      
24 Other expenses. Itemize expenses not covered above. (Expenses grouped together and labeled miscellaneous may not exceed 5% of total expenses shown on line 25 below.)
a Borrower Tracing 96,767 96,767    
b Collection Fees 18,880,119 18,880,119    
c Corp Support Func Allocation 21,470,353 18,477,236 2,993,117  
d Discount-Rehab Loans 6,735,003 6,735,003    
e All other expenses 30,197 30,197    
f All other expenses        
25 Total functional expenses. Add lines 1 through 24f 107,769,472 103,573,426 4,196,046 0
26 Joint costs. Check here MediumBullet if following
SOP 98-2 (ASC 958-720). Complete this line only if the organization reported in column (B) joint costs from a combined educational campaign and fundraising solicitation 		       
Form 990 (2010)
Form 990 (2010)
Page 11
Part X Balance Sheet
(A)
Beginning of year 		(B)
End of year
Assets 1 Cash—non-interest-bearing .......... 2,315,031 1 1,910,175
2 Savings and temporary cash investments ....... 93,738,646 2 99,994,311
3 Pledges and grants receivable, net .........   3  
4 Accounts receivable, net ......... 13,995,797 4 7,747,378
5 Receivables from current and former officers, directors, trustees, key employees, and highest compensated employees. Complete Part II of
Schedule L ..........   5  
6 Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B). Complete Part II of
Schedule L ..........   6  
7 Notes and loans receivable, net .............   7  
8 Inventories for sale or use ..............   8  
9 Prepaid expenses and deferred charges ............ 339,557 9 124,175
10a Land, buildings, and equipment: cost or other basis. Complete Part VI of Schedule D 10a 15,666,637
b Less: accumulated depreciation. ..... 10b 1,931,455 12,320,642 10c 13,735,182
11 Investments—publicly traded securities ..........   11  
12 Investments—other securities. See Part IV, line 11 ......   12  
13 Investments—program-related. See Part IV, line 11 ..   13  
14 Intangible assets .........   14  
15 Other assets. See Part IV, line 11 ........... 17,455,565 15 8,478,323
16 Total assets. Add lines 1 through 15 (must equal line 34)... 140,165,238 16 131,989,544
Liabilities 17 Accounts payable and accrued expenses . 4,760,302 17 5,385,637
18 Grants payable ..........   18  
19 Deferred revenue .......... 7,597,536 19 8,212,553
20 Tax-exempt bond liabilities ..........   20  
21 Escrow or custodial account liability. Complete Part IV of Schedule D..   21  
22 Payables to current and former officers, directors, trustees, key
employees, highest compensated employees, and disqualified
persons. Complete Part II of Schedule L..........   22  
23 Secured mortgages and notes payable to unrelated third parties ..   23  
24 Unsecured notes and loans payable to unrelated third parties ....   24  
25 Other liabilities. Complete Part X of Schedule D..... 36,296,363 25 17,771,856
26 Total liabilities. Add lines 17 through 25..... 48,654,201 26 31,370,046
Net Assets or Fund Balance Organizations that follow SFAS 117, check here MediumBullet and complete lines 27 through 29, and lines 33 and 34.
27 Unrestricted net assets ..... 91,511,037 27 100,619,498
28 Temporarily restricted net assets .....   28  
29 Permanently restricted net assets .....   29  
Organizations that do not follow SFAS 117, check here MediumBullet and complete lines 30 through 34.
30 Capital stock or trust principal, or current funds .....   30  
31 Paid-in or capital surplus, or land, building or equipment fund .....   31  
32 Retained earnings, endowment, accumulated income, or other funds   32  
33 Total net assets or fund balances ..... 91,511,037 33 100,619,498
34 Total liabilities and net assets/fund balances ..... 140,165,238 34 131,989,544
Form 990 (2010)
Form 990 (2010)
Page 12
Part XI
Reconcilliation of Net Assets
Check if Schedule O contains a response to any question in this Part XI . . . . . . . . . .
1
Total revenue (must equal Part VIII, column (A), line 12) . . .
1
117,210,340
2
Total expenses (must equal Part IX, column (A), line 25) . . . . .
2
107,769,472
3
Revenue less expenses. Subtract line 2 from line 1 . . . .
3
9,440,868
4
Net assets or fund balances at beginning of year (must equal Part X, line 33, column (A)) . .
4
91,511,037
5
Other changes in net assets or fund balances (explain in Schedule O) . . . .
5
-332,407
6
Net assets or fund balances at end of year. Combine lines 3, 4, and 5 (must equal Part X, line 33, column (B)) . . . . . .
6
100,619,498
Part XII
Financial Statements and Reporting
Check if Schedule O contains a response to any question in this Part XII . . . . . . . . . .
Yes
No
1
Accounting method used to prepare the Form 990:  
If the organization changed its method of accounting from a prior year or checked "Other," explain in
Schedule O.
2a
Were the organization’s financial statements compiled or reviewed by an independent accountant?..
2a
 
No
b
Were the organization’s financial statements audited by an independent accountant?........
2b
Yes
 
c
If “Yes,” to 2a or 2b, does the organization have a committee that assumes responsibility for oversight of the audit, review, or compilation of its financial statements and selection of an independent accountant?
If the organization changed either its oversight process or selection process during the tax year, explain in Schedule O............................
2c
Yes
 
d
If “Yes” to line 2a or 2b, check a box below to indicate whether the financial statements for the year were issued on a separate basis, consolidated basis, or both:
3a
As a result of a federal award, was the organization required to undergo an audit or audits as set forth in the Single Audit Act and OMB Circular A-133? ................
3a
Yes
 
b
If “Yes,” did the organization undergo the required audit or audits? If the organization did not undergo the required audit or audits, explain why in Schedule O and describe any steps taken to undergo such audits. ..
3b
Yes
 
Form 990 (2010)
Additional Data


Software ID:  
Software Version:  
Form 990, Special Condition Description:
Special Condition Description
SCHEDULE A
(Form 990 or 990EZ)

Department of the Treasury
Internal Revenue Service
Public Charity Status and Public Support

Complete if the organization is a section 501(c)(3) organization or a section
4947(a)(1) nonexempt charitable trust.
right arrow Attach to Form 990 or Form 990-EZ. right arrow See separate instructions.
OMB No. 1545-0047
2010
Open to Public
Inspection
Name of the organization
Great Lakes Higher Education Guaranty Corp
 
Employer identification number

39-1853833
Part I
Reason for Public Charity Status (All organizations must complete this part.) See instructions
The organization is not a private foundation because it is: (For lines 1 through 11, check only one box.)
1
2
3
4
5
section 170(b)(1)(A)(iv). (Complete Part II.)
6
7
8
9
receipts from activities related to its exempt functions—subject to certain exceptions, and (2) no more than 331/3% of
its support from gross investment income and unrelated business taxable income (less section 511 tax) from businesses
acquired by the organization after June 30, 1975. See section 509(a)(2). (Complete Part III.)
10
11
e
f
g
(i) a person who directly or indirectly controls, either alone or together with persons described in (ii)
Yes
No
and (iii) below, the governing body of the the supported organization? ................
11g(i)
 
 
(ii) a family member of a person described in (i) above? ......................
11g(ii)
 
 
(iii) a 35% controlled entity of a person described in (i) or (ii) above? ................
11g(iii)
 
 
h
(i)
Name of supported organization 		(ii)
EIN 		(iii)
Type of organization (described on lines 1- 9 above or IRC section (see instructions)) 		(iv)
Is the organization in col. (i) listed in your governing document? 		(v)
Did you notify the organization in col. (i) of your support? 		(vi)
Is the organization in col. (i) organized in the U.S.? 		(vii)
Amount of support?
Yes No Yes No Yes No
Total                  

For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 11285F
Schedule A (Form 990 or 990-EZ) 2010
Schedule A (Form 990 or 990-EZ) 2010
Page 2
Part II
Support Schedule for Organizations Described in IRC 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi)
(Complete only if you checked the box on line 5, 7, or 8 of Part I or if the organization failed to qualify under Part III. If the organization fails to qualify under the tests listed below, please complete Part III.)
Section A. Public Support
Calendar year(or fiscal year beginning in) (a) 2006 (b) 2007 (c) 2008 (d) 2009 (e) 2010 (f) Total
1 Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grants.") ....            
2 Tax revenues levied for the organization's benefit and either paid to or expended on its behalf.......            
3 The value of services or facilities furnished by a governmental unit to the organization without charge..            
4 Total. Add lines 1 through 3..            
5 The portion of total contributions by each person (other than a governmental unit or publicly supported organization) included on line 1 that exceeds 2% of the amount shown on line 11, column (f)..            
6 Public Support. Subtract line 5 from line 4.            
Section B. Total Support
Calendar year(or fiscal year beginning in) (a) 2006 (b) 2007 (c) 2008 (d) 2009 (e) 2010 (f) Total
7 Amounts from line 4..            
8 Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources..            
9 Net income from unrelated business activities, whether or not the business is regularly carried on..            
10 Other income. (Explain in Part IV.) Do not include gain or loss from the sale of capital assets..            
11 Total support (Add lines 7 through 10).            
12
12
 
13
Section C. Computation of Public Support Percentage
14
14
 
15
15
 
16a
b
17a
b
18
Schedule A (Form 990 or 990-EZ) 2010
Schedule A (Form 990 or 990-EZ) 2010
Page 3
Part III
Support Schedule for Organizations Described in IRC 509(a)(2)
(Complete only if you checked the box on line 9 of Part I or if the organization failed to qualify under Part II. If the organization fails to qualify under the tests listed below, please complete Part II.)
Section A. Public Support
Calendar year(or fiscal year beginning in) (a) 2006 (b) 2007 (c) 2008 (d) 2009 (e) 2010 (f) Total
1 Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grants.") . 0 0 284,412 913,068 1,317,329 2,514,809
2 Gross receipts from admissions, merchandise sold or services performed, or facilities furnished in any activity that is related to the organization's tax-exempt purpose...... 134,079,209 149,589,389 132,499,527 117,872,136 115,613,140 649,653,401
3 Gross receipts from activities that are not an unrelated trade or business under section 513..            
4 Tax revenues levied for the organization's benefit and either paid to or expended on its behalf...            
5 The value of services or facilities furnished by a governmental unit to the organization without charge..            
6 Total. Add lines 1 through 5. 134,079,209 149,589,389 132,783,939 118,785,204 116,930,469 652,168,210
7a Amounts included on lines 1, 2, and 3 received from disqualified persons... 0 0 0 0 0 0
b Amounts included on lines 2 and 3 received from other than disqualified persons that exceed the greater of $5,000 or 1% of the amount on line 13 for the year. 0 0   0   0
c Add lines 7a and 7b.. 0 0 0 0 0 0
8 Public Support (Subtract line 7c from line 6.)           652,168,210
Section B. Total Support
Calendar year (or fiscal year beginning in) (a) 2006 (b) 2007 (c) 2008 (d) 2009 (e) 2010 (f) Total
9 Amounts from line 6... 134,079,209 149,589,389 132,783,939 118,785,204 116,930,469 652,168,210
10a Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources.. 3,198,820 4,742,867 3,064,301 2,199,624 2,158,910 15,364,522
b Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975.            
c Add lines 10a and 10b. 3,198,820 4,742,867 3,064,301 2,199,624 2,158,910 15,364,522
11 Net income from unrelated business activities not included in line 10b, whether or not the business is regularly carried on.            
12 Other income. Do not include gain or loss from the sale of capital assets (Explain in Part IV.) -199,118 -232,318 9,492 325,404 146,192 49,652
13 Total support (Add lines 9, 10c, 11 and 12.). 137,078,911 154,099,938 135,857,732 121,310,232 119,235,571 667,582,384
14
Section C. Computation of Public Support Percentage
15
15
97.691 %
16
16
97.895 %
Section D. Computation of Investment Income Percentage
17
17
2.302 %
18
18
2.179 %
19a
b
20
Schedule A (Form 990 or 990-EZ) 2010
Schedule A (Form 990 or 990-EZ) 2010
Page 4
Part IV
Supplemental Information. Supplemental Information. Complete this part to provide the explanation required by Part II, line 10; Part II, line 17a or 17b; or Part III, line 12. Also complete this part for any additional information. (See instructions).
Facts And Circumstances Test
 
Explanation
*2006 - ($200,000) & 2007 - ($200,000) - Adjustments to revenue previously recognized due to return of Department of Education revenues, for default aversion fees. *2009 - $324,041 - Affiliation Earnings Adjustment *2010 - $100,000 - EAC ELM Redemption *2010 - $ 38,000 - Dakota Corp Administrative Services Fee
 
 
 
Schedule A (Form 990 or 990-EZ) 2010

Additional Data


Software ID:  
Software Version:  
Schedule B
(Form 990, 990-EZ,
or 990-PF)
Department of the Treasury
Internal Revenue Service
Schedule of Contributors
Arrow Bullet Attach to Form 990, 990-EZ, or 990-PF.
OMB No. 1545-0047
2010
Name of organization
Great Lakes Higher Education Guaranty Corp
 
Employer identification number

39-1853833
Organization type (check one):
Filers of:
Section:
Form 990 or 990-EZ





Form 990-PF




Check if your organization is covered by the General Rule or a Special Rule.  
Note. Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
General Rule—
Special Rules
......................... Arrow Bullet   $    
Caution. An Organization that is not covered by the General Rule and/or the Special Rules does not file Schedule B (Form 990,
990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2 of its Form 990, or check the box in the heading of its
Form 990-EZ, or on line 2 of its Form 990-PF, to certify that it does not meet the filing requirements of Schedule B (Form 990,
990-EZ, or 990-PF).
For Paperwork Reduction Act Notice, see the Instructions
for Form 990, 990-EZ, or 990-PF.
Cat. No. 30613XSchedule B (Form 990, 990-EZ, or 990-PF) (2010)

Schedule B (Form 990, 990-EZ, or 990-PF) (2010)
Page 1 of 1 of Part I
Name of organization
Great Lakes Higher Education Guaranty Corp
  		Employer identification number

39-1853833
Part I
Contributors (see Instructions)
     
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Aggregate contributions		 (d)
Type of contribution
RESTRICTED
RESTRICTED
 

     
RESTRICTED
RESTRICTED  
RESTRICTED, RESTRICTED   RESTRICTED

$RESTRICTED




(Complete Part II if there is
a noncash contribution.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Aggregate contributions		 (d)
Type of contribution
 
 
 

     
 
   

$  




(Complete Part II if there is
a noncash contribution.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Aggregate contributions		 (d)
Type of contribution
 
 
 

     
 
   

$  




(Complete Part II if there is
a noncash contribution.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Aggregate contributions		 (d)
Type of contribution
 
 
 

     
 
   

$  




(Complete Part II if there is
a noncash contribution.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Aggregate contributions		 (d)
Type of contribution
 
 
 

     
 
   

$  




(Complete Part II if there is
a noncash contribution.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Aggregate contributions		 (d)
Type of contribution
 
 
 

     
 
   

$  




(Complete Part II if there is
a noncash contribution.)
Schedule B (Form 990, 990-EZ, or 990-PF) (2010)

Schedule B (Form 990, 990-EZ, or 990-PF) (2010)
Page 1 of 1 of Part II
Name of organization
Great Lakes Higher Education Guaranty Corp
  		Employer identification number

39-1853833
Part II
Noncash Property (see Instructions)
     
(a) No.
from
Part I		 (b)
Description of noncash property given		 (c)
FMV (or estimate)
(see instructions) 		(d)
Date received
 
$    
(a) No.
from
Part I		 (b)
Description of noncash property given		 (c)
FMV (or estimate)
(see instructions) 		(d)
Date received
 
$    
(a) No.
from
Part I		 (b)
Description of noncash property given		 (c)
FMV (or estimate)
(see instructions) 		(d)
Date received
 
$    
(a) No.
from
Part I		 (b)
Description of noncash property given		 (c)
FMV (or estimate)
(see instructions) 		(d)
Date received
 
$    
(a) No.
from
Part I		 (b)
Description of noncash property given		 (c)
FMV (or estimate)
(see instructions) 		(d)
Date received
 
$    
(a) No.
from
Part I		 (b)
Description of noncash property given		 (c)
FMV (or estimate)
(see instructions) 		(d)
Date received
 
$    
Schedule B (Form 990, 990-EZ, or 990-PF) (2010)

Schedule B (Form 990, 990-EZ, or 990-PF) (2010)
Page 1 of 1 of Part III
Name of organization
Great Lakes Higher Education Guaranty Corp
  		Employer identification number

39-1853833
Part III
Exclusively religious, charitable, etc., individual contributions to section 501(c)(7), (8), or (10) organizations
aggregating more than $1,000 for the year. (Complete columns (a) through (e) and the following line entry.)
For organizations completing Part III, enter the total of exclusively religious, charitable, etc.,
contributions of $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet $  
(a) No.
from
Part I		 (b)
Purpose of gift		 (c)
Use of gift		 (d)
Description of how gift is held
 
(e)
Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
       
 
(a) No.
from
Part I		 (b)
Purpose of gift		 (c)
Use of gift		 (d)
Description of how gift is held
 
(e)
Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
       
 
(a) No.
from
Part I		 (b)
Purpose of gift		 (c)
Use of gift		 (d)
Description of how gift is held
 
(e)
Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
       
 
(a) No.
from
Part I		 (b)
Purpose of gift		 (c)
Use of gift		 (d)
Description of how gift is held
 
(e)
Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
       
 
Schedule B (Form 990, 990-EZ, or 990-PF) (2010)

Additional Data


Software ID:  
Software Version:  
SCHEDULE D
(Form 990)
Department of the Treasury
Internal Revenue Service
Supplemental Financial Statements
SchDMd Bullet Complete if the organization answered "Yes," to Form 990,
Part IV, line 6, 7, 8, 9, 10, 11, or 12.
SchDMd Bullet Attach to Form 990. SchDMd Bullet See separate instructions.
OMB No. 1545-0047
2010
Open to Public Inspection
Name of the organization
Great Lakes Higher Education Guaranty Corp
 
Employer identification number

39-1853833
Part I
Organizations Maintaining Donor Advised Funds or Other Similar Funds or Accounts. Complete if the organization answered "Yes" to Form 990, Part IV, line 6.
(a) Donor advised funds (b) Funds and other accounts
1 Total number at end of year .......    
2 Aggregate contributions to (during year) ...    
3 Aggregate grants from (during year) ...    
4 Aggregate value at end of year .......    
5
Did the organization inform all donors and donor advisors in writing that the assets held in donor advised
funds are the organization's property, subject to the organization's exclusive legal control? ............
6
Did the organization inform all grantees, donors, and donor advisors in writing that grant funds may be
used only for charitable purposes and not for the benefit of the donor or donor advisor, or for any other purpose conferring impermissible private benefit. ...................................
Part II
Conservation Easements. Complete if the organization answered "Yes" to Form 990, Part IV, line 7.
1
Purpose(s) of conservation easements held by the organization (check all that apply).
2
Complete lines 2a–2d if the organization held a qualified conservation contribution in the form of a conservation easement on the last day of the tax year.
Held at the End of the Year
a Total number of conservation easements ....................... 2a  
b Total acreage restricted by conservation easements .................. 2b  
c Number of conservation easements on a certified historic structure included in (a) ..... 2c  
d Number of conservation easements included in (c) acquired after 8/17/06 ........ 2d  
3
Number of conservation easements modified, transferred, released, extinguished, or terminated by the organization during
the taxable year SchDMd Bullet  
4
Number of states where property subject to conservation easement is located SchDMd Bullet  
5
Does the organization have a written policy regarding the periodic monitoring, inspection, handling of violations, and
enforcement of the conservation easements it holds? .............................
6
Staff and volunteer hours devoted to monitoring, inspecting and enforcing conservation easements during the year SchDMd Bullet  
7
Amount of expenses incurred in monitoring, inspecting, and enforcing conservation easements during the year SchDMd Bullet $  
8
Does each conservation easement reported on line 2(d) above satisfy the requirements of section
170(h)(4)(B)(i) and 170(h)(4)(B)(ii)? ....................................
9
In Part XIV, describe how the organization reports conservation easements in its revenue and expense statement, and
balance sheet, and include, if applicable, the text of the footnote to the organization’s financial statements that describes
the organization’s accounting for conservation easements.
Part III
Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets.
Complete if the organization answered "Yes" to Form 990, Part IV, line 8.
1a
If the organization elected, as permitted under SFAS 116, not to report in its revenue statement and balance sheet works of
art, historical treasures, or other similar assets held for public exhibition, education or research in furtherance of public service,
provide, in Part XIV, the text of the footnote to its financial statements that describes these items.
b
If the organization elected, as permitted under SFAS 116, to report in its revenue statement and balance sheet works of art,
historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service,
provide the following amounts relating to these items:
(i)
Revenues included in Form 990, Part VIII, line 1 ........................SchDMd Bullet $  
(ii)
Assets included in Form 990, Part X ..............................SchDMd Bullet $  
2
If the organization received or held works of art, historical treasures, or other similar assets for financial gain, provide the
following amounts required to be reported under SFAS 116 relating to these items:
a
Revenues included in Form 990, Part VIII, line 1 ..........................SchDMd Bullet $  
b
Assets included in Form 990, Part X ...............................SchDMd Bullet $  
For Privacy Act and Paperwork Reduction Act Notice, see the Intructions for Form 990
Cat. No. 52283D
Schedule D (Form 990) 2010

Schedule D (Form 990) 2010
Page 2
Part III
Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets (continued)
3
Using the organization’s accession and other records, check any of the following that are a significant use of its collection
items (check all that apply):
a
d
b
e
 
c
4
Provide a description of the organization’s collections and explain how they further the organization’s exempt purpose in
Part XIV.
5
During the year, did the organization solicit or receive donations of art, historical treasures or other similar
assets to be sold to raise funds rather than to be maintained as part of the organization’s collection?........
Part IV
Escrow and Custodial Arrangements. Complete if the organization answered "Yes" to Form 990,
Part IV, line 9, or reported an amount on Form 990, Part X, line 21.
1a
Is the organization an agent, trustee, custodian or other intermediary for contributions or other assets not
included on Form 990, Part X? ....................................
b
If "Yes," explain the arrangement in Part XIV and complete the following table:
Amount
c Beginning balance ................................. 1c 238,487,263
d Additions during the year .............................. 1d 41,709,270
e Distributions during the year ............................. 1e 37,823,363
f Ending balance ................................... 1f 242,373,170
2a
Did the organization include an amount on Form 990, Part X, line 21? .....................
b
If “Yes,” explain the arrangement in Part XIV.
Part V
Endowment Funds. Complete if the organization answered "Yes" to Form 990, Part IV, line 10.
(a)Current Year (b)Prior Year (c)Two Years Back (d)Three Years Back (e)Four Years Back
1a Beginning of year balance ....      
b Contributions ........      
c Investment earnings or losses ...      
d Grants or scholarships .....      
e Other expenditures for facilities
and programs ........ 		     
f Administrative expenses ....      
g End of year balance ......      
2
Provide the estimated percentage of the year end balance held as:
a
Board designated or quasi-endowment: SchDMd Bullet  
b
Permanent endowment: SchDMd Bullet  
c
Term endowment: SchDMd Bullet  
3a
Are there endowment funds not in the possession of the organization that are held and administered for the
organization by:

Yes
No
(i) unrelated organizations ........................
3a(i)
 
 
(ii) related organizations ........................
3a(ii)
 
 
b
If "Yes" to 3a(ii), are the related organizations listed as required on Schedule R? .........
3b
 
 
4
Describe in Part XIV the intended uses of the organization's endowment funds.
Part VI
Investments—Land, Buildings, and Equipment. See Form 990, Part X, line 10.
Description of investment (a) Cost or other basis (investment) (b)Cost or other basis (other) (c) Accumulated depreciation (d) Book value
1a Land .................   542,660 542,660
b Buildings ................   13,984,160 1,411,278 12,572,882
c Leasehold improvements ............        
d Equipment ................   937,257 437,341 499,916
e Other .................   202,559 82,835 119,724
Total. Add lines 1a-1e. (Column (d) should equal Form 990, Part X, column (B), line 10(c).)........SchDMdBullet 13,735,182
Schedule D (Form 990) 2010

Schedule D (Form 990) 2010
Page 3
Part VII
Investments—Other Securities. See Form 990, Part X, line 12.
(a) Description of security or category
(including name of security)		 (b)Book value (c) Method of valuation:
Cost or end-of-year market value
(1)Financial derivatives    
(2)Closely-held equity interests    
Other








Total. (Column (b) should equal Form 990, Part X, col.(B) line 12.)Small Bullet  
Part VIII
Investments—Program Related. See Form 990, Part X, line 13.
(a) Description of investment type (b) Book value (c) Method of valuation:
Cost or end-of-year market value








Total. (Column (b) should equal Form 990, Part X, col.(B) line 13.)Small Bullet  
Part IX
Other Assets. See Form 990, Part X, line 15.
(a) Description (b) Book value
(1) REHABILITATION LOANS RECEIV. 4,582,249
(2) INTERCOMPANY & OTHER RECEIV. 3,654,471
(3) COMPENSATION PLAN ASSETS 228,830
(4) ACCRUED INTEREST RECEIVABLE 12,773





Total. (Column (b) should equal Form 990, Part X, col.(B) line 15.)...........Small Bullet 8,478,323
Part X
Other Liabilities. See Form 990, Part X, line 25.
1.(a) Description of Liability (b) Amount
Federal Income Taxes 0
RESERVE-DEFAULT AVERSION FEES 12,035,962
DUE TO FEDERAL GOVERNMENT 182,736
INTERCOMPANY & MISC. PAYABLES 4,227,675
COMPENSATION PLAN PAYABLE 1,325,483





Total. (Column (b) should equal Form 990, Part X, col.(B) line 25.)Small Bullet 17,771,856
2. Fin 48 (ASC 740) Footnote. In Part XIV, provide the text of the footnote to the organization's financial statements that reports the organization's liability for uncertain tax positions under FIN 48 (ASC740).
Schedule D (Form 990) 2010

Schedule D (Form 990) 2010
Page 4
Part XI Reconciliation of Change in Net Assets from Form 990 to Financial Statements
1 Total revenue (Form 990, Part VIII, column (A), line 12) .................... 1  
2 Total expenses (Form 990, Part IX, column (A), line 25) ..................... 2  
3 Excess or (deficit) for the year. Subtract line 2 from line 1 ............. 3  
4 Net unrealized gains (losses) on investments .......................... 4  
5 Donated services and use of facilities ............................. 5  
6 Investment expenses ................................... 6  
7 Prior period adjustments .................................. 7  
8 Other (Describe in Part XIV) ................................. 8  
9 Total adjustments (net). Add lines 4 - 8 ............................. 9  
10 Excess or (deficit) for the year per financial statements. Combine lines 3 and 9 ......... 10  
Part XII Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
1 Total revenue, gains, and other support per audited financial statements ....... 1  
2 Amounts included on line 1 but not on Form 990, Part VIII, line 12:
a Net unrealized gains on investments .......... 2a  
b Donated services and use of facilities ......... 2b  
c Recoveries of prior year grants ........... 2c  
d Other (Describe in Part XIV): ............ 2d  
e Add lines 2a through 2d ..................... 2e  
3 Subtract line 2e from line 1..................... 3  
4 Amounts included on Form 990, Part VIII, line 12, but not on line 1:
a Investment expenses not included on Form 990, Part VIII, line 7b . 4a  
b Other (Describe in Part XIV): ........... 4b  
c Add lines 4a and 4b....................... 4c  
5 Total Revenue. Add lines 3 and 4c. (This should equal Form 990, Part I, line 12.) ...... 5  
Part XIII Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
1 Total expenses and losses per audited financial statements ............. 1  
2 Amounts included on line 1 but not on Form 990, Part IX, line 25:
a Donated services and use of facilities .......... 2a  
b Prior year adjustments .............. 2b  
c Other losses ................ 2c  
d Other (Describe in Part XIV): ............ 2d  
e Add lines 2a through 2d...................... 2e  
3 Subtract line 2e from line 1..................... 3  
4 Amounts included on Form 990, Part IX, line 25, but not on line 1:
a Investment expenses not included on Form 990, Part VIII, line 7b .. 4a  
b Other (Describe in Part XIV): ............ 4b  
c Add lines 4a and 4b....................... 4c  
5 Total expenses. Add lines 3 and 4c. (This should equal Form 990, Part I, line 18.) ...... 5  
Part XIV
Supplemental Information
Complete this part to provide the descriptions required for Part II, lines 3, 5, and 9; Part III, lines 1a and 4; Part lV, lines 1b and 2b;
Part V, line 4; Part X; Part XI, line 8; Part XII, lines 2d and 4b; and Part XIII, lines 2d and 4b. Also complete this part to provide any additional information.
Identifier Return Reference Explanation
SUPPLEMENTAL INFORMATION Schdule D, Part IV, Line 1b CUSTODIAL ACCOUNT: Great Lakes Higher Education Guaranty Corporation (GLHEGC) conducts activity related to the guarantee of student loans made to post-secondary education students and to their parents in accordance with the Federal Family Education Loan Program (PROGRAM) established by Title IV, Part B of the Federal Higher Education Act of 1965, As Amended, and the administration of certain net assets of the PROGRAM. The Higher Education Amendments of 1998 (1998 Amendments) were enacted on October 7, 1998, with an effective date of October 1, 1998. Pursuant to the 1998 Amendments, GLHEGC established a Federal Student Loan Reserve Fund (FSLRF) to account for program activites. The FSLRF assets and earnings on those assets are the property of the Federal Government. Since the FSLRF assets are the property of the United States Government, the accounts and activities of the FSLRF are not included in the GLHEGC Form 990, Part X. GLHEGC exercises the level of care required of a fiduciary charged with the duty of protecting, investing and administering these assets. FORM 990, PART IV, LINE 9: One aspect of the full-range guaranty services is to provide collection assistance to lenders for delinquent loans. This includes contacting the borrower to attempt to restore the loan to a current status through various options. This contact also involves educating and/or counseling borrowers. In addition, GLHEGC provides direct support of personal financial management education, financial aid awareness and college access initiatives, and guidance and counsel on consolidation loans and loan rehabilitation under the Higher Education Act.
Schedule D (Form 990) 2010

Additional Data


Software ID:  
Software Version:  




Schedule I
(Form 990)
Department of the Treasury
Internal Revenue Service
Grants and Other Assistance to Organizations,
Governments and Individuals in the United States
Complete if the organization answered "Yes," to Form 990, Part IV, line 21 or 22.
lBullet Attach to Form 990
OMB No. 1545-0047
2010
Open to Public
Inspection
Name of the organization
Great Lakes Higher Education Guaranty Corp
 
Employer identification number
39-1853833
Part I
General Information on Grants and Assistance
1
Does the organization maintain records to substantiate the amount of the grants or assistance, the grantees' eligibility for the grants or assistance, and
the selection criteria used to award the grants or assistance? ....................................
2
Describe in Part IV the organization's procedures for monitoring the use of grant funds in the United States.
Part II
Grants and Other Assistance to Governments and Organizations in the United States. Complete if the organization answered "Yes" to
Form 990, Part IV, line 21 for any recipient that received more than $5,000. Check this box if no one recipient received more than $5,000. Use
Part IV and Schedule I-1 (Form 990) if additional space is needed ......................... lBullet
(a) Name and address of organization
or government		 (b) EIN (c) IRC Code section
if applicable		 (d) Amount of cash grant (e) Amount of non-cash
assistance		 (f) Method of valuation
(book, FMV, appraisal,
other)		 (g) Description of
non-cash assistance		 (h) Purpose of grant
or assistance
(1) ACHIEVEMINNEAPOLIS111 3rd Avenue South
Suite 5
Minneapolis,MN55401 		41-1425264 501(c)(3) 119,655       Achieve Career and College Initiative
(2) ACSPO Box 9001561
Louisville,KY40290 		  59,879       College Access Champion
(3) Admission Possible450 N Syndicate Street
Suite 200
St Paul,MN55104 		41-1968798 501(c)(3) 299,693       College Preparation
(4) Afro World Enterprises LTD2821 N 4th Street
Suite 200
Milwaukee,WI53212 		39-1422633 501(c)(3) 41,475       Back to School Event
(5) American Education ServicesPHEAA1200 North Seventh Street
208
Harrisburg,PA17102 		51-0423553 501(c)(3) 11,719       College Access Champion
(6) Ashtabula County Continued Education Support Svcs17 North Market Street
Jefferson,OH44047 		34-1930119 501(c)(3) 49,000       Support Access Programs
(7) Asset Builders of America Inc1213 North Sherman Avenue
Madison,WI73704 		39-2005260 501(c)(3) 17,500       Financial Literacy & Awareness
(8) Beloit College700 College Street
Beloit,WI53511 		39-0808497 501(c)(3) 34,170       Help Yourself Programs
(9) Big Brothers Big Sisters of Gtr Twin Cities2550 University Avenue
Suite 410N
St Paul,MN55114 		32-0017737 501(c)(3) 75,000       Education Initiative
(10) Board of Regents of UW System1860 Van Hise Hall
Suite 410N
Madison,WI53706 		State of WI 26,271       Graduation Benchmark Study
(11) Boy Scouts of America1124 11-1/2 Street SE
1220 Linden Drive
Rochester,MN55907 		41-0698309 501(c)(3) 49,290       Exploring Grant Program
(12) Boys & Girls Club of the Bemidji AreaPO Box 191
Bemidji,MN56619 		81-0599601 501(c)(3) 74,300       Steps to College Program
(13) Boys and Girls Club of Dane County2001 Taft Street
Madison,WI53713 		39-1925617 501(c)(3) 150,000       AVID/TOPS Program
(14) Boys and Girls Club of Fond Du Lac131 South Main Street
Fond Du Lac,WI54936 		39-1896496 501(c)(3) 12,300       Project Learn Program
(15) Boys and Girls Club of Rochester1026 East Center Street
Rochester,MN55904 		41-1945875 501(c)(3) 44,539       Operation 3.2 Program
(16) Boys and Girls Club of West Bend925 Silverbrook Drive
West Bend,WI53090 		39-1773689 501(c)(3) 26,075       Youth Math & Science Program
(17) Boys and Girls Club of Central Minnesota345 - 30th Avenue North
St Cloud,MN56303 		41-1245177 501(c)(3) 72,376       Core Program Grant
(18) Boys and Girls Club of Greater Milwaukee1558 6th Street
Milwaukee,WI53212 		39-0806292 501(c)(3) 73,535       Horizons Initiative Program
(19) Boys and Girls Club of of the NorthlandPO Box 16435
Duluth,MN55816 		41-0969947 501(c)(3) 51,918       ACES Program
(20) Brainerd Lakes Chambers of Comm Edn AssnPO Box 356
Brainerd,MN56401 		41-1787694 501(c)(3) 75,000       Connection Program
(21) Brooklyn Center High School Independent School Dis6500 Humboldt Avenue North
Brooklyn Center,MN55430 		Minesota SD-286 75,000       AVID Program Grant
(22) Carlton County Children & Fly Svcs Collaborative1215 Avenue C
Cloquet,MN55720 		Carlton Cnty MN 106,650       YES Program
(23) Carmen High School of Science & Technology1712 South 32nd Street
Milwaukee,WI53215 		56-2569203 501(c)(3) 8,430       College Visits for Students Programs
(24) Central Minnesota Jobs and Training Services Inc106 Pine Street
Monticello,MN55362 		41-1484048 501(c)(3) 64,930       Camps to Careers Programs
(25) Centro Campesino Inc216 Oak Avenue North
Owatonna,MN55060 		41-1945775 501(c)(3) 34,194       Educational Equity Project
(26) Century College3300 Century Avenue North
White Bear Lake,MN55110 		Minnesota SCUS 7,616       Upward Bound/Trio Program
(27) CEO Leadership Academy3222 West Brown Street
Milwaukee,WI53208 		39-6003457 501(c)(3) 47,700       College Planning Enrichment Project
(28) Cooperative Education Service Agency #31300 Industrial Drive
Fennimore,WI53809 		CESA Wisconsin 13,940       Reality Check: Financial Literacy Program
(29) Chase Student Loan Servicing LLCPO Box 7013
Indianapolis,IN46207 		  15,000       College Access Champion
(30) Cincinnati State Tech & Community College3520 Central Parkway
Suite 005
Cincinnati,OH45223 		31-1430847 501(c)(3) 58,500       Grant for Upward Bound Math & Science Institute
(31) College of St BenedictSt Johns University37 South College Avenue
Suite 005
St Joseph,MN56374 		41-0969244 501(c)(3) 18,065       Upward Bound Program Grant
(32) College of St Scholastica1200 Kenwood Ave
Duluth,MN55811 		41-0698301 501(c)(3) 57,726       Upward Bound Grant
(33) Common Wealth Development Inc1501 Williamson Street
Madison,WI53703 		39-1323500 501(c)(3) 60,000       Financial Education/Youth Programs
(34) CouleeCap Inc201 Melby Street
Westby,WI54667 		39-1077614 501(c)(3) 75,000       Skills Enhancement Program
(35) Dr George Washington Carver Acad of Math & Sc1900 North 1st Street
Milwaukee,WI53212 		Milwauke Pub Sc 21,724       College Tour Grant
(36) Edgewood College1000 Edgewood College Drive
Madison,WI53711 		39-0806202 501(c)(3) 23,333       Community Scholars Grant
(37) Financial Education Center2300 South Park Street
Suite 005
Madison,WI53703 		99-0148320 501(c)(3) 7,500       Sponsorship of Dane County Money Smart Week
(38) Forward Service Corporation1402 Pankratz Street
Suite 005
Madison,WI53701 		39-1342890 501(c)(3) 29,525       Encourage, Motivate, Prepare Project Grant
(39) Girl Scouts of MinnesotaWisconsin LakesPines400 Second Avenue South
Suite 101
Waite Park,MN56387 		41-0877820 501(c)(3) 21,091       College 101 Visits Grant
(40) Girl Scouts of MinnesotaWisconsin River Vly400 Robert Smith South
Saint Paul,MN55107 		41-0693910 501(c)(3) 93,500       College Pathways Program
(41) Good Hope Economic Delvelopment Corporation8605 West Hope Road
Milwaukee,WI53224 		26-0059784 501(c)(3) 34,250       High School College Visits Grants
(42) Great Lakes Educational Loan Services Inc2401 International Lane
Madison,WI53704 		  153,210       College Access Champion
(43) Great Lakes Higher Education Corporation2401 International Lane
Suite 100
Madison,WI53704 		39-1090394 501(c)(3) 40,000,000       Student Financial Aid Activities
(44) Green Bay Area Public Schools200 South Broadway
Suite 100
Green Bay,WI54303 		GreenBay Pub Sc 24,896       AVID Program Grant
(45) Greene County College Success Partnership25 Greene Street
NW Tech Bldg 102
Xenia,OH45385 		31-1751001 501(c)(3) 75,000       Continuity Planning Grant
(46) Indianhead Community Action Agency Inc209 East Third Street South
NW Tech Bldg 102
Ladysmith,WI54848 		39-1086966 501(c)(3) 75,000       Fresh Start Program
(47) Itasca Community College1851 East Highway 169
Suite 730
Grand Rapids,MN55744 		Minnesota SCUS 17,120       TRiO Programs
(48) Junior Achievement of the Upper Midwest Inc1800 White Bear Ave North
Maplewood,MN55109 		41-1424988 501(c)(3) 67,500       Finance Park and Titan Experience
(49) Junior Achievement of Wisconsin Inc6924 North Port Washington Road
200
Milwaukee,WI53217 		39-0826295 501(c)(3) 18,750       Career & Financial Literacy Grant
(50) LakeGEAUGA Educational Assistance Fdn8221 Auburn Road
200
Concord,OH44077 		34-1640416 501(c)(3) 112,500       High School Advisory Program Grant
(51) Make a Difference Wisconsin Inc710 North Plankinton Avenue
Suite 730
Milwaukee,WI53202 		20-5203533 501(c)(3) 20,000       Financial Literacy
(52) Mapping Your Future IncPO Box 5176
Suite 730
Round Rock,TX78683 		46-0458615 501(c)(3) 20,676       College/Career Financial Aid Information
(53) Mesabi Range Community & Technical College1001 Chestnut Street West
Suite 350
Virginia,MN55792 		41-1687554 501(c)(3) 17,255       TRIO Program Grant
(54) Minnesota African Women's Association2207 North Second Street
Suite 201
Minneapolis,MN55411 		41-1259139 501(c)(3) 37,505       AGILE Program
(55) Minnesota Minority Educ Partnership Inc2233 University Avenue West
Suite 201
St Paul,MN55114 		41-1699505 501(c)(3) 61,517       MCAN Intiative Grant
(56) Minnesota Office of Higher Education1450 Energy Park Drive
220
St Paul,MN55108 		41-6007162 Govt 61,634       Get Ready/GEAR UP Programs Grants
(57) Nehemiah community Development Corporation655 West Badger Road
Suite 350
Madison,WI53713 		39-1736091 501(c)(3) 22,177       On Ramp College Prep Program Grant
(58) NELNET121 South 13th Street
Suite 201
Lincoln,NE68508 		  32,305       College Access Champion
(59) Noble County Integration Collaborative117 11th Avenue
Suite 201
Worthington,MN56187 		Noble Cnty, MN 69,010       College/Career Preparation
(60) North Coast Center of Excellence2830 Napoleon Road
Suite 1
Fremont,OH43420 		State of Ohio 46,201       College Access Program Grant
(61) Northfield High School1400 Division Street S
Northfield,MN55057 		City of Nrthfld 69,946       TORCH Program
(62) OASFAA525 South Main Street
2nd Floor
Ada,OH45810 		31-0883788 501(c)(3) 23,800       College Goal
(63) Oberlin College173 West Lorain Street
2nd Floor
Oberlin,OH44074 		34-0714363 501(c)(3) 10,255       Ninde Program
(64) Ohio College Access Network500 South Front Street
Suite 980
Columbus,OH43215 		31-1677604 501(c)(3) 474,776       College Access Investment Program
(65) Operation Fresh Start Inc1925 Winnebago Street
Suite 980
Madison,WI53704 		23-7108090 501(c)(3) 35,500       Pathway to Post-Secondary Education
(66) People Helping People Milwaukee Inc2039 W Wells Street
Milwaukee,WI53233 		26-1957593 501(c)(3) 13,720       RISE Summer 2010 College Tours Grant
(67) Project Fine Inc202 W 3rd Street
Winona,MN55987 		41-1883675 501(c)(3) 57,042       Education Connection Program
(68) Project Grad Cincinnati Inc301 Oak Street
Cincinnati,OH45219 		31-1816376 501(c)(3) 64,600       Project GRAD Cincinnati Scholarship Program
(69) Sallie Mae Servicing Corp12061 Bluemont Way
Reston,VA20190 		  45,000       College Access Champion
(70) Southwest Minnesota Private Industry Council Inc607 West Main Street
Marshall,MN56258 		41-1487964 501(c)(3) 59,700       Outreach to Schools Program
(71) Southwest Minnesota State University30 7th Street East
Suite 350
St Paul,MN55101 		Minnesota SCUS 8,499       TRIO Upward Bound Program Grant
(72) St Cloud Technical College1540 Northway Drive
Suite 350
St Cloud,MN56303 		41-1687554 Govt 47,440       College Bound Program
(73) St Olaf College TrioGear Up1520 St Olaf Avenue
Northfield,MN55057 		41-0693979 501(c)(3) 67,872       TRIO/GEAR UP Pre-College Programs
(74) Strive LLCOne West Fourth Street
No 200
Cincinnati,OH45202 		31-1321973 501(c)(3) 80,000       Cincinnati College Readiness Fund
(75) Students & Leaders Net Incorporated10 E Doty Street
No 200
Madison,WI53703 		26-1244214 501(c)(3) 70,000       Startup and Operating Expenses Grant
(76) US Department of EducationPO Box 530260
Atlanta,GA30353 		US Govt 105,000       College Access Champion
(77) UW-Eau Claire105 Garfield Avenue
Eau Claire,WI54702 		39-6006492 501(c)(3) 90,658       Blugold Beginnings & Educational Opportunity Centr
(78) UW-Fox Valley1478 Midway Road
Menasha,WI54592 		State of WI 40,532       Educational Talent Search Program
(79) UW - Green Bay2420 Nicolet Drive
Green Bay,WI54311 		39-6006492 501(c)(3) 54,935       Phuture Phoenix Program
(80) UW-MadisonUniversity Avenue
Madison,WI53706 		State of WI 70,000       UW-Madison Payback Calculator
(81) UW-Milwaukee3271 Lake Drive
Milwaukee,WI53211 		39-6006492 501(c)(3) 46,065       Life Impact Program
(82) UW-Parkside900 Wood Road
Kenosha,WI53141 		39-6006492 501(c)(3) 30,451       Summer Scholars Bridge Program
(83) UW-Stevens Point2100 Main Street
Stevens Point,WI54481 		39-6006492 501(c)(3) 6,918       Upward Bound Program
(84) UW-Stout712 South Broadway Street
Menomonie,WI54751 		39-6006492 501(c)(3) 16,329       ASPIRE Summer Bridge Living Learning Community Pro
(85) UW-Waukesha Foundation Inc1500 North University Drive
Waukesha,WI53188 		39-1588785 501(c)(3) 42,410       Pre-College Program
(86) UW-Whitewater800 West Main Street
Whitewater,WI53190 		State of WI 35,288       Upward Bound Program
(87) WASFAA-WI100 North East Avenue
Suite 700
Waukesha,WI53186 		39-6279228 501(c)(3) 25,000       College Goal Sunday Program
(88) WCGVWVTV TV4041 N 35th Street
Suite 700
Milwaukee,WI53216 		  45,000       FAFSA Outreach Program
(89) Wells Fargo Bank NAPO Box 650725
Dallas,TX75265 		  40,000       College Access Champion
(90) West Central Wisconsin Community Action AgencyPO Box 308
Glenwood City,WI54013 		39-1076125 501(c)(3) 43,924       Skills Enhancement Program
(91) Western Community Action Inc400 West Main Street
Suite 201
Marshall,MN56258 		41-0888137 501(c)(3) 45,124       Generation Next Program
(92) Western Dairyland Economic Opportunity Council IncPO Box 125
Suite 201
Independence,WI54747 		39-1076993 501(c)(3) 75,000       Success Incentives
(93) Wisconsin Covenant Foundation Inc2401 International Lane
Madison,WI53704 		26-1550326 501(c)(3) 150,277       Contributed Organization Costs
(94) Wisconsin Covenant Foundation Inc2401 International Lane
Suite 402
Madison,WI53704 		26-1550326 501(c)(3) 79,726       Tribute Dinner
(95) Wisconsin Dept of Public Instruction125 S Webster Street
Suite 402
Madison,WI53707 		State of WI 50,341       Kick-Off Conference/CLIMB Theater Event
(96) Wisconsin Fdn For Independent Colleges Inc4425 North Port Washington Road
Suite 100resou
Milwaukee,WI53212 		39-6068752 501(c)(3) 150,000       College Readiness 21
(97) Workforce Resource401 Technology Drive East
Suite 402
Menomonie,WI54751 		39-1455735 501(c)(3) 47,368       Resource Youth Career
(98) XAP3534 Hayden Avenue
Suite 100
Culver City,CA90232 		  151,646       Wisconsin Mentor Maintenance
(99) YMCA of Metropolitan Milwaukee161 W Wisconsin Avenue
Milwaukee,WI53206 		39-0806314 501(c)(3) 44,996       Sponsor-A-Scholar Program
(100) YMCA of Metropolitan Minnesota30 South Ninth Street
Minneapolis,MN55402 		41-0695629 501(c)(3) 59,240       Multi-Cultural Achievers Program
(101) Young Womens Christian Assn of La Crosse3219 Commerce Street
La Crosse,WI54603 		39-0810543 501(c)(3) 10,395       2010 Summer College Tours
2
Enter total number of section 501(c)(3) and government organizations ......................... Bullet Image
92
3
Enter total number of other organizations ................................ . Bullet Image
8
For Privacy Act and Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50055P
Schedule I (Form 990) 2010

Schedule I (Form 990) 2010
Page 2
Part III
Grants and Other Assistance to Individuals in the United States. Complete if the organization answered "Yes" to Form 990, Part IV, line 22.
Use Schedule I-1 (Form 990) if additional space is needed.
(a)Type of grant or assistance (b)Number of
recipients		 (c)Amount of
cash grant		 (d)Amount of
non-cash assistance		 (e)Method of valuation (book,
FMV, appraisal, other)		 (f)Description of non-cash assistance













Part IV
Supplemental Information. Complete this part to provide the information required in Part I, line 2, and any other additional information.
Identifier Return Reference Explanation
Form 990, Schedule I - Part I, Line 2 Description of Organization's Procedures for Monitoring the Use of Grants Great Lakes Higher Education Guaranty Corporation (GLHEGC) receives periodic reports from funded programs to determine whether the program is successfully meeting its goals and objectives, and whether the provided funds were appropriately expended. GLHEGC's staff conducts site visits to college access supported programs to observe the program. Where practicable, the disbursements are scheduled to coincide with program activities. Per the College Access Champion (CAC) Program, grants were submitted to the following organizations on behalf of the CAC award recipients: ACS - $59,879 American Education Services (PHEAA) - $11,719 Chase Student Loan Servicing, LLC - $15,000 Great Lakes Educational Loan Services, Inc. - $153,210 NELNET - $32,305 Sallie Mae Servicing Corporation - $45,000 US Department of Education - $105,000 Wells Fargo Bank - $40,000
Schedule I (Form 990) 2010


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Schedule J
(Form 990)
Department of the Treasury
Internal Revenue Service
Compensation Information
For certain Officers, Directors, Trustees, Key Employees, and Highest
Compensated Employees
SchJMediumBullet Complete if the organization answered "Yes" to Form 990,
Part IV, question 23.
SchJMediumBullet Attach to Form 990. SchJMediumBullet See separate instructions.
OMB No. 1545-0047
2010
Open to Public Inspection
Name of the organization
Great Lakes Higher Education Guaranty Corp
 
Employer identification number

39-1853833
Part I
Questions Regarding Compensation
Yes
No
1a
Check the appropiate box(es) if the organization provided any of the following to or for a person listed in Form
990, Part VII, Section A, line 1a. Complete Part III to provide any relevant information regarding these items.
b
If any of the boxes in line 1a are checked, did the organization follow a written policy regarding payment or reimbursement orprovision of all the expenses described above? If "No," complete Part III to explain....
1b
 
 
2
Did the organization require substantiation prior to reimbursing or allowing expenses incurred by all
officers, directors, trustees, and the CEO/Executive Director, regarding the items checked in line 1a? ....
2
 
 
3
Indicate which, if any, of the following the organization uses to establish the compensation of the
organization's CEO/Executive Director. Check all that apply.
4
During the year, did any person listed in Form 990, Part VII, Section A, line 1a with respect to the filing organization or a related organization:
a
Receive a severance payment or change-of-control payment? ...............
4a
 
No
b
Participate in, or receive payment from, a supplemental nonqualified retirement plan? ........
4b
Yes
 
c
Participate in, or receive payment from, an equity-based compensation arrangement? ........
4c
 
No
If "Yes" to any of lines 4a-c, list the persons and provide the applicable amounts for each item in Part III.
Only 501(c)(3) and 501(c)(4) organizations only must complete lines 5-9.
5
For persons listed in form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the revenues of:
a
The organization? ...........................
5a
 
No
b
Any related organization? .........................
5b
 
No
If "Yes," to line 5a or 5b, describe in Part III.
6
For persons listed in form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the net earnings of:
a
The organization? ...........................
6a
 
No
b
Any related organization? .........................
6b
 
No
If "Yes," to line 6a or 6b, describe in Part III.
7
For persons listed in Form 990, Part VII, Section A, line 1a, did the organization provide any non-fixed
payments not described in lines 5 and 6? If "Yes," describe in Part III ............
7
 
No
8
Were any amounts reported in Form 990, Part VII, paid or accured pursuant to a contract that was
subject to the initial contract exception described in Regs. section 53.4958-4(a)(3)? If "Yes," describe
in Part III .............................
8
 
No
9
If "Yes" to line 8, did the organization also follow the rebuttable presumption procedure described in Regulations section 53.4958-6(c)? .........................
9
 
 
For Privacy Act and Paperwork Reduction Act Notice, see the Intructions for Form 990
Cat. No. 50053T
Schedule J (Form 990) 2010

Schedule J (Form 990) 2010
Page 2
Part II
Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees. Use Schedule J-1 if additional space needed.
For each individual whose compensation must be reported in Schedule J, report compensation from the organization on row (i) and from related organizations, described in the
instructions on row (ii). Do not list any individuals that are not listed on Form 990, Part VII.

Note. The sum of columns (B)(i)-(iii) must equal the applicable column (D) or column (E) amounts on Form 990, Part VII, line 1a.
(A) Name (B) Breakdown of W-2 and/or 1099-MISC compensation (C) Retirement and other deferred compensation (D) Nontaxable
benefits		 (E) Total of columns
(B)(i)-(D) 		(F) Compensation
reported in prior
Form 990 or
Form 990-EZ
(i) Base compensation (ii) Bonus & incentive compensation (iii) Other reportable compensation
(1) Richard D George 23 (i)
(ii)		 0
268,231 		0
275,572 		0
3,886 		0
45,066 		0
19,247 		0
612,002 		0
 
(2) Nancy Seifert 3 (i)
(ii)		 0
154,999 		0
160,599 		0
1,331 		0
31,840 		0
18,939 		0
367,708 		0
 
(3) Clark Wold (i)
(ii)		 168,577
0 		60,507
0 		3,810
0 		35,639
0 		9,965
0 		278,498
0 		0
 
(4) Amy Kobishop (i)
(ii)		 135,000
0 		115,524
0 		21,937
0 		26,837
0 		2,999
0 		302,297
0 		21,658
 
(5) Beth Erickson (i)
(ii)		 113,538
0 		70,524
0 		4,251
0 		22,265
0 		15,133
0 		225,711
0 		0
 
(6) Jacqueline Fairbairn (i)
(ii)		 87,609
0 		50,536
0 		263
0 		19,154
0 		22,733
0 		180,295
0 		0
 










Schedule J (Form 990) 2010

Schedule J (Form 990) 2010
Page 3
Part III
Supplemental Information
Complete this part to provide the information, explanation, or descriptions required for Part I, lines 1a, 1b, 4c, 5a, 5b, 6a, 6b, 7, and 8. Also complete this part for any additional information.
Identifier Return Reference Explanation
Supplemental Compensation Information   Schedule J, Part I, Line 4b THE FOLLOWING INDIVIDUALS PARTICIPATED IN A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN: RICHARD GEORGE, NANCY SEIFERT, Amy Kobishop, and Jacqueline Fairbairn. THERE WERE NO NEW PAYMENTS INTO THE PLAN. AMY KOBISHOP RECEIVED A FINAL PAYMENT FROM THE PLAN IN 2010. 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.
Schedule J (Form 990) 2010

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Schedule L
(Form 990 or 990-EZ)
Department of the Treasury
Internal Revenue Service
Transactions with Interested Persons
MediumBullet Complete if the organization answered
"Yes" on Form 990, Part IV, lines 25a, 25b, 26, 27, 28a, 28b, or 28c,
or Form 990-EZ, Part V lines 38a or 40b.
MediumBullet Attach to Form 990 or Form 990-EZ. MediumBulletSee separate instructions.
OMB No. 1545-0047
2010
Open to Public Inspection
Name of the organization
Great Lakes Higher Education Guaranty Corp
 
Employer identification number

39-1853833
Part I
Excess Benefit Transactions (section 501(c)(3) and section 501 (c)(4) organizations only).
Complete if the organization answered "Yes" on Form 990, Part IV, line 25a or 25b, or Form 990-EZ, Part V, line 40b.
1(a) Name of disqualified person (b) Description of transaction (c) Corrected?
Yes No





2
Enter the amount of tax imposed on the organization managers or disqualified persons during the year under section 4958. ......................... Bullet Image$
 
3
Enter the amount of tax, if any, on line 2, above, reimbursed by the organization ....... Bullet Image$
 

Part II
Loans to and/or From Interested Persons.
Complete if the organization answered "Yes" on Form 990, Part IV, line 26, or Form 990-EZ, Part V, line 38a.
(a) Name of interested person and purpose (b) Loan to or from the organization? (c)Original principal amount (d)Balance due (e) In default? (f) Approved by board or committee? (g)Written agreement?
To From Yes No Yes No Yes No
Total ...............Small Bullet $  
Part III
Grants or Assistance Benefitting Interested Persons.
Complete if the organization answered "Yes" on Form 990, Part IV, line 27.
(a) Name of interested person (b)Relationship between interested person and the organization (c)Amount of grant or type of assistance
For Privacy Act and Paperwork Reduction Act Notice, see the
Instructions for Form 990 or 990-EZ.
Cat. No. 50056A
Schedule L (Form 990 or 990-EZ) 2010
Schedule L (Form 990 or 990-EZ) 2010
Page 2
Part IV
Business Transactions Involving Interested Persons.
Complete if the organization answered "Yes" on Form 990, Part IV, line 28a, 28b, or 28c.
(a) Name of interested person (b) Relationship between interested person and the organization (c) Amount of transaction (d) Description of transaction (e) Sharing of organization's revenues?
Yes No
(1) Great Lakes Educational Loan Svcs Contrl Ent/officer ovrlap 2,022,000 GLELSI Bldg Rent Pd to GLHEGC   No
(2) Great Lakes Educational Loan Svcs Contrl Ent/officer ovrlap 2,695,821 Intercompany Reimb. to GLELSI   No
Part V
Supplemental Information
Complete this part to provide additional information for responses to questions on Schedule L (see instructions).
Identifier Return Reference Explanation
Schedule L (Form 990 or 990-EZ) 2010

Additional Data


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SCHEDULE N
(Form 990 or 990-EZ)
Department of the Treasury
Internal Revenue Service
Liquidation, Termination, Dissolution or Significant Disposition of Assets
bullet Complete if the organization answered "Yes" to Form 990, Part IV, lines 31 or 32 or Form 990-EZ, line 36.
bullet Attach certified copies of any articles of dissolution, resolutions or plans.
bullet Attach to Form 990 or 990-EZ.
OMB No. 1545-0047
2010
Open to Public
Inspection
Name of the organization
Great Lakes Higher Education Guaranty Corp
 
Employer identification number
39-1853833
Part I
Liquidation, Termination or Dissolution. Complete if the organization answered "Yes" to Form 990, Part IV, line 31, or Form 990-EZ, line
36. Use Part III if additional space is needed. Click to see attachment
1(a)Description of asset(s)
distributed or transaction
expenses paid		 (b)Date of
distribution		 (c)Fair market value of
asset(s) distributed or
amount of transaction
expenses		 (d)Method of
determining FMV for
asset(s) distributed or
transaction expenses		 (e)EIN of recipient (f)Name and address of recipient (g)IRC section
of recipient(s) (if
tax-exempt) or type
of entity
























Yes
No
2
Did or will any officer, director, trustee, or key employee of the organization:
a
Become a director or trustee of a successor or transferee organization? . . . . . . . . . . . . . . . . . . . . .
2a
 
 
b
Become an employee of, or independent contractor for, a successor or transferee organization? . . . . . . . . . . . . . . . .
2b
 
 
c
Become a direct or indirect owner of a successor or transferee organization? . . . . . . . . . . . . . . . . . . . .
2c
 
 
d
Receive, or become entitled to, compensation or other similar payments as a result of the organization's liquidation, termination, or dissolution? . . . . .
2d
 
 
e
If the organization answered "Yes" to any of the questions in this line, provide the name of the person involved and explain in Part III. bullet
For Privacy Act and Paperwork Reduction Act Notice, see the Instructions for Form 990 or Form 990-EZ.
Cat. No. 50087Z
Schedule N (Form 990 or 990-EZ) 2010

Schedule N (Form 990 or 990-EZ) 2010
Page 2
Part I
Liquidation, Termination or Dissolution (continued)
Note. If the organization distributed all of its assets during the tax year, then Form 990, Part X, column (B) should equal -0-.
Yes
No
3
Did the organization distribute its assets in accordance with its governing instrument(s)? If “No,” describe in Part III . . . . . . . . . . .
3
 
 
4a
Is the organization required to notify the attorney general or other appropriate state official of its intent to dissolve, liquidate, or terminate? . . . . . .
4a
 
 
b
If “Yes,” did the organization provide such notice? . . . . . . . . . . . . . . . . . . . . . . . . . .
4b
 
 
5
Did the organization discharge or pay all liabilities in accordance with state laws? . . . . . . . . . . . . . . . . . . .
5
 
 
6a
Did the organization have any tax-exempt bonds outstanding during the year? . . . . . . . . . . . . . . . . . . . .
6a
 
 
b
Did the organization discharge or defease tax-exempt bond liabilities in accordance with the Internal Revenue Code and state laws? . . . . . . . .
6b
 
 
c
If “Yes,” describe in Part III how the organization defeased or otherwise settled these liabilities. If “No,” explain in Part III.

Part II
Sale, Exchange, Disposition or Other Transfer of More Than 25% of the Organization's Assets. Complete if the organization answered "Yes" to Form 990, Part IV, line 32, or Form 990-EZ, line 36. Use Part III if additional space is needed.
1(a)Description of asset(s)
distributed or transaction
expenses paid		 (b)Date of
distribution		 (c)Fair market value of
asset(s) distributed or
amount of transaction
expenses		 (d)Method of
determining FMV for
asset(s) distributed or
transaction expenses		 (e)EIN of recipient (f)Name and address of recipient (g)IRC section
of recipient(s) (if
tax-exempt) or type
of entity
Cash 03-26-2010 20,000,000   39-1090394 Great Lakes Higher Education Corpor
2401 International Lane
Madison,WI53704 		501(c)(3)
Cash 08-23-2010 20,000,000   39-1090394 Great Lakes Higher Education Corpor
2401 International Lane
Madison,WI53704 		501(c)(3)
















Yes
No
2
Did or will any officer, director, trustee, or key employee of the organization:
a
Become a director or trustee of a successor or transferee organization? . . . . . . . . . . . . . . . . . . . . .
2a
 
 
b
Become an employee of, or independent contractor for, a successor or transferee organization? . . . . . . . . . . . . . . . .
2b
 
 
c
Become a direct or indirect owner of a successor or transferee organization? . . . . . . . . . . . . . . . . . . . . .
2c
 
 
d
Receive, or become entitled to, compensation or other similar payments as a result of the organization’s significant disposition of assets? . . . . . . .
2d
 
 
e
If the organization answered "Yes" to any of the questions in this line, provide the name of the person involved and explain in Part III.
Schedule N(Form 990 or 990-EZ) 2010

Schedule N (Form 990 or 990-EZ) 2010
Page 3
Part III
Supplemental Information. Complete to provide the information required by Parts I and II,
and any additional information.
Identifier Return Reference Explanation
Part II, Line 2A   Organization's annual transfer to Great Lakes Higher Education Corporation Two officers and five directors are officers and directors, respectively, in the transferor and the transferee corporations (related tax-exempt organization). Overlapping Officers: Richard George and Nancy Seifert Overlapping Directors: Emerson Brumback, Richard George, David Hanson, Janice Hesalroad and Richard Weiss.
Schedule N (Form 990 or 990-EZ) 2010


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SCHEDULE O
(Form 990 or 990-EZ)

Department of the Treasury
Internal Revenue Service
Supplemental Information to Form 990 or 990-EZ

Complete to provide information for responses to specific questions on
Form 990 or to provide any additional information.
MediumBullet Attach to Form 990 or 990-EZ.
OMB No. 1545-0047
2010
Open to Public
Inspection
Name of the organization
Great Lakes Higher Education Guaranty Corp
 
Employer identification number

39-1853833
Identifier Return Reference Explanation
Supplemental Information   Form 990, Part VI, Questions 6 and 7a Members and Stockholders: Great Lakes Higher Education Corporation, a nonrofit 501(c)(3) corporation, is the sole member of Great Lakes Higher Education Guaranty Corporation (GLHEGC) and has the authority to appoint the GLHEGC board. Form 990, Part VI, Question 7b DECISIONS OF GOVERNING BODY SUBJECT TO APPROVAL: Great Lakes Higher Education Corporation, a nonprofit 501(c)(3) corporation, as sole member of Great Lakes Higher Education Guaranty Corporation (GLHEGC), has the authority provided by Wis. Stats. Chapter 181 to approve certain actions related to merger, conversion, sale of assets and dissolution. Form 990, 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. Form 990, 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. Form 990, Part VI, Question 15b Process for determining compensation: The compensation of all of the officers is determined annually by the Personnel Policy Committee of the Board of Directors. 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. Form 990, Part VI, Question 19 Governing Documents, Conflict of Interest Policy, And Financial Statements: Federal tax law does not require that such documents be made publicly available. Documents are available upon specific request. Part VII, Section A Devoted hours to RElated Organizations: GLHEC = Great Lakes Higher Education Corporation NG = Northstar Guarantee Inc. *Richard George - 60 hours with GLHEC and 1 hour with NG *Nancy Seifert - 55 hours with GLHEC and 1 hour with NG 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 2 hours per week to their position(s). (2)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. Form 990, Part IX, Line 24d Corporate Support Function Allocation: Allocated expenses include salaries, fringe benefits, supplies and services allocated from Great Lakes Higher Education Corporation for management and administrative services; and the GLHEC/GLELSI agreement expenses for guaranty loan guaranty/origination activities, technology support and administrative support. Form 990 XI, Line 5 Other Changes in Net Assets: (2,000,000) - 2009 Transfer Pricing Adjustment 1,660,405 - Affiliation Transfer 7,188 - Unrealized Loss on Investments ----------- (332,407) - Other Changes in Net Assets -----------
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 51056K
Schedule O (Form 990 or 990-EZ) 2010

Additional Data


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SCHEDULE R
(Form 990)
Department of the Treasury
Internal Revenue Service
Related Organizations and Unrelated Partnerships
MediumBulletComplete if the organization answered "Yes" to Form 990, Part IV, line 33, 34, 35, 36, or 37.
MediumBulletAttach to Form 990. MediumBullet See separate instructions.

OMB No. 1545-0047
2010
Open to Public Inspection
Name of the organization
Great Lakes Higher Education Guaranty Corp
 
Employer identification number

39-1853833
Part I
Identification of Disregarded Entities (Complete if the organization answered "Yes" on Form 990, Part IV, line 33.)
(a)
Name, address, and EIN of disregarded entity


(b)
Primary activity


 		(c)
Legal domicile (state
or foreign country)

 		(d)
Total income
(e)
End-of-year assets


 		(f)
Direct controlling
entity

















Part II
Identification of Related Tax-Exempt Organizations (Complete if the organization answered "Yes" on Form 990, Part IV, line 34 because it had one or more related tax-exempt organizations during the tax year.)
(a)
Name, address, and EIN of related organization


(b)
Primary activity


 		(c)
Legal domicile (state
or foreign country)

 		(d)
Exempt Code section
(e)
Public charity status
(if section 501(c)(3))

 		(f)
Direct controlling
entity

 		(g)
Section 512(b)(13) controlled organization
Yes No
(1) Great Lakes Higher Education Corporation

2401 International Lane

Madison,WI53704
39-1090394 		Stdnt Ln Svcs WI 501(c)(3) 11B Type 2 NA
 
 
 
(2) Northstar Guarantee Inc

2401 International Lane

Madison,WI53704
41-1689095 		STDT REHAB LN MN 501(c)(3) 9 GLHEC
 
 
 
(3) Education Assistance Corporation

115 1st Avenue SW

Aberdeen,SD57401
46-0344021 		Stdnt Ln Svcs SD 501(c)(4)   GLHEC
 
 
 








For Privacy Act and Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50135Y
Schedule R (Form 990) 2010
Schedule R (Form 990) 2010
Page 2
Part III
Identification of Related Organizations Taxable as a Partnership (Complete if the organization answered "Yes" on Form 990, Part IV, line 34 because it had one or more related organizations treated as a partnership during the tax year.)
(a)
Name, address, and EIN of
related organization



 		(b)
Primary activity




 		(c)
Legal
domicile
(state or foreign
country)


 		(d)
Direct controlling
entity



 		(e)
Predominant income(related, unrelated, excluded from tax under sections 512-514)

(f)
Share of total income




 		(g)
Share of end-of-year
assets



 		(h)
Disproprtionate allocations?




 		(i)
Code V—UBI
amount in box 20 of
Schedule K-1
(Form 1065)
 		(j)
General or
managing
partner?



 		(k)
Percentage
ownership
Yes No Yes No












Part IV
Identification of Related Organizations Taxable as a Corporation or Trust (Complete if the organization answered "Yes" on Form 990, Part IV, line 34 because it had one or more related organizations treated as a corporation or trust during the tax year.)
(a)
Name, address, and EIN of related organization



 		(b)
Primary activity



 		(c)
Legal domicile
(state or
foreign
country)
 		(d)
Direct controlling
entity


 		(e)
Type of entity
(C corp, S corp,
or trust)

 		(f)
Share of total income



 		(g)
Share of
end-of-year
assets

 		(h)
Percentage
ownership
(1) Great Lakes Educational Loan Svcs Inc
2401 International Lane
Madison,WI53704
39-1864035 		Student Loan Svcs WI NA
  		C Corp      












Schedule R (Form 990) 2010
Schedule R (Form 990) 2010
Page 3
Part V
Transactions With Related Organizations (Complete if the organization answered "Yes" on Form 990, Part IV, line 34, 35, 35A, or 36.)
Note. Complete line 1 if any entity is listed in Parts II, III or IV.
Yes
No
1 During the tax year, did the orgranization engage in any of the following transactions with one or more related organizations listed in Parts II-IV?
a Receipt of (i) interest (ii) annuities (iii) royalties (iv) rent from a controlled entity . . . . . . . . . . . . . . . . . . . . . . .
1a
Yes
 
b Gift, grant, or capital contribution to other organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1b
Yes
 
c Gift, grant, or capital contribution from other organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1c
Yes
 
d Loans or loan guarantees to or for other organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1d
 
No
e Loans or loan guarantees by other organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1e
 
No
f Sale of assets to other organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1f
 
No
g Purchase of assets from other organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1g
 
No
h Exchange of assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1h
 
No
i Lease of facilities, equipment, or other assets to other organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1i
Yes
 
j Lease of facilities, equipment, or other assets from other organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . .
1j
 
No
k Performance of services or membership or fundraising solicitations for other organization(s) . . . . . . . . . . . . . . . . . . . . . .
1k
 
No
l Performance of services or membership or fundraising solicitations by other organization(s) . . . . . . . . . . . . . . . . . . . . . .
1l
 
No
m Sharing of facilities, equipment, mailing lists, or other assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1m
 
No
n Sharing of paid employees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1n
 
No
o Reimbursement paid to other organization for expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1o
Yes
 
p Reimbursement paid by other organization for expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1p
 
No
q Other transfer of cash or property to other organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1q
Yes
 
r Other transfer of cash or property from other organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1r
Yes
 
2
If the answer to any of the above is "Yes," see the instructions for information on who must complete this line, including covered relationships and transaction thresholds.
(a)
Name of other organization 		(b)
Transaction
type(a-r) 		(c)
Amount involved 		(d)
Method of determining amount involved
(1) Great Lakes Educational Loan Services Inc

 a 2,022,000  
(2) Great Lakes Educational Loan Services Inc

 q 2,695,821  
(3) Education Assistance Corporation

 c 1,660,405  
(4)
(5)
(6)
Schedule R (Form 990) 2010
Schedule R (Form 990) 2010
Page 4
Part VI
Unrelated Organizations Taxable as a Partnership (Complete if the organization answered "Yes" on Form 990, Part IV, line 37.)
Provide the following information for each entity taxed as a partnership through which the organization conducted more than five percent of its activities (measured by total assets or gross revenue) that was not a related organization. See instructions regarding exclusion for certain investment partnerships.
(a)
Name, address, and EIN of entity 		(b)
Primary activity 		(c)
Legal domicile
(state or foreign
country) 		(d)
Are all
partners
section
501(c)(3)
organizations? 		(e)
Share of
end-of-year
assets 		(f)
Disproprtionate allocations? 		(g)
Code V—UBI
amount in box
20 of Schedule K-1
(Form 1065) 		(h)
General or
managing
partner?
Yes No Yes No Yes No






























Schedule R (Form 990) 2010
Schedule R (Form 990) 2010
Page 5
Part VII
Supplemental Information
Complete this part to provide additional information for responses to questions on Schedule R (see instructions).
Identifier Return Reference Explanation
Additional Data


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