Nonprofit · EIN 02-0368776
GRANITE EDVANCE CORPORATION
Tax-exempt · CONCORD, NH 03301
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| September 30, 2025 | 990 | $61,204,622 | $59,200,848 | $2,003,774 | $912,774,268 | $585,082,056 | $327,692,212 |
| September 30, 2024 | 990 | $63,939,847 | $60,059,105 | $3,880,742 | $904,473,074 | $590,642,566 | $313,830,508 |
| September 30, 2023 | 990 | $61,725,667 | $60,413,588 | $1,312,079 | $915,716,327 | $619,458,501 | $296,257,826 |
Financial details: 990 for the year ended September 30, 2025
Revenue
- Contributions, gifts and grants
- $40,000
- of which government grants
- $25,000
- Program service revenue
- $53,741,564
- Investment income
- $7,508,016
- Net rental income
- -$84,958
- Net gain from sales of assets
- $466,077
- Other revenue
- -$84,958
Expenses
- Grants and similar amounts paid
- $1,026,288
- Compensation of officers, directors and key employees
- $2,166,505
- Other salaries and wages
- $4,815,527
- Salaries, compensation and benefits (total)
- $8,585,672
- Professional fundraising fees
- $0
- Legal fees
- $36,000
- Accounting fees
- $88,010
- Occupancy
- $557,657
- Travel
- $190,599
- Depreciation
- $399,137
- Program services (functional)
- $55,794,519
- Management and general (functional)
- $3,406,329
Balance sheet and other
- Total assets, start of year
- $904,473,074
- Total assets, end of year
- $912,774,268
- Total liabilities, end of year
- $585,082,056
- Net assets, end of year
- $327,692,212
- Land, buildings and equipment
- $3,034,196
- Publicly traded securities
- $156,525,499
- Net assets without donor restrictions
- $327,692,212
- Gross receipts
- $70,339,937
- Employees
- 101
- Volunteers
- 96
- Year formed
- 1983
- State of legal domicile
- NH
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended September 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Christiana Thornton | President & CEO Trustee or director, Officer | 40 | $507,256 | $46,584 |
| Scott Rogers | VP & CFO Officer | 40 | $281,207 | $42,168 |
| John Flanders | VP & Chief Strategy/Lending Officer Officer | 40 | $224,643 | $37,934 |
| Blessing Chimwanda | Gen. Counsel/Chief Compliance Off. Officer | 40 | $233,919 | $8,491 |
| Erik Sobel | VP Technology Solutions & Security Key employee | 40 | $194,743 | $20,712 |
| Danielle Barrick | VP Chief Communications Officer Key employee | 40 | $191,401 | $10,153 |
| Kathy-Ann Maguire | VP People & Talent Management Key employee | 40 | $150,897 | $35,633 |
| Daniel Coughlan | VP Capital Markets/Asset Management Key employee | 40 | $152,779 | $27,987 |
| Christopher Nadeau | VP, Information Security & Business Solutions Highest-paid employee | 40 | $131,156 | $34,435 |
| Minatchy Visvanathan | Business Systems & Data Architect Highest-paid employee | 40 | $112,938 | $32,916 |
| Matthew Wallace | VP, Education & Career Pathways Highest-paid employee | 40 | $116,157 | $29,551 |
| Carlton Lewis | Solutions Architect Highest-paid employee | 40 | $132,775 | $9,879 |
| Merek Weisensee | AVP, Technical Solutions & Support Highest-paid employee | 40 | $128,678 | $9,684 |
| Peter Burger | Trustee Trustee or director | 0.2 | $0 | $0 |
| William Dwyer | Trustee Trustee or director | 0.2 | $0 | $0 |
11 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Rick Elwell | Trustee Trustee or director | 0.2 | $0 |
| Chuck Lloyd | Trustee Trustee or director | 0.2 | $0 |
| MB Lufkin | Trustee Trustee or director | 0.2 | $0 |
| Debra Miller | Trustee Trustee or director | 0.2 | $0 |
| Hans Olson | Trustee Trustee or director | 0.2 | $0 |
| Sandy Tracy | Trustee Trustee or director | 0.2 | $0 |
| Susan Huard | Chair (end 12/2024); Trustee Trustee or director, Officer | 0.2 | $0 |
| Paul Provost | Trustee; Chair (start 1/2025) Trustee or director, Officer | 0.2 | $0 |
| Gordon Koff | Vice Chair; Trustee Trustee or director, Officer | 0.2 | $0 |
| Carol Houle | Treasurer; Trustee Trustee or director, Officer | 0.2 | $0 |
| Jamie Burnett | Secretary; Trustee Trustee or director, Officer | 0.2 | $0 |
990 for the year ended September 30, 2024: 23 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Christiana Thornton | President & CEO Trustee or director, Officer | 40 | $489,876 | $45,555 |
| Scott Rogers | VP & CFO Officer | 40 | $262,773 | $38,253 |
| Ann Marie Thomas | Former VP & Chief Risk Officer Former | 40 | $237,021 | $11,679 |
| John Flanders | VP & Chief Strategy/Lending Officer Officer | 40 | $206,414 | $38,380 |
| Erik Sobel | VP Information Services Highest-paid employee | 40 | $188,316 | $24,233 |
| Danielle Barrick | VP Communications & External Affairs Highest-paid employee | 40 | $183,368 | $11,770 |
| Kathy-Ann Maguire | VP Human Resources Highest-paid employee | 40 | $142,091 | $33,874 |
| Robert Woodburn | AVP, Business Systems (end 9/2023) Highest-paid employee | 40 | $154,110 | $20,399 |
| Daniel Coughlan | VP Capital Markets/Asset Management Highest-paid employee | 40 | $143,687 | $27,931 |
| Blessing Chimwanda | Gen. Counsel/Chief Compliance Off. Officer | 40 | $139,805 | $1,588 |
| Peter Burger | Trustee Trustee or director | 0.2 | $0 | $0 |
| William Dwyer | Trustee Trustee or director | 0.2 | $0 | $0 |
| Chuck Lloyd | Trustee Trustee or director | 0.2 | $0 | $0 |
| MB Lufkin | Trustee (start 9/2024) Trustee or director | 0 | $0 | $0 |
| Debra Miller | Trustee Trustee or director | 0.2 | $0 | $0 |
| Hans Olson | Trustee Trustee or director | 0.2 | $0 | $0 |
| Sandy Tracy | Trustee Trustee or director | 0.2 | $0 | $0 |
| Susan Huard | Chair; Trustee Trustee or director, Officer | 0.2 | $0 | $0 |
| Paul Provost | Vice Chair (end 9/2024); Trustee Trustee or director, Officer | 0.2 | $0 | $0 |
| Gordon Koff | Vice Chair (start 9/2024); Trustee Trustee or director, Officer | 0.2 | $0 | $0 |
| Rick Elwell | Treasurer (end 9/2024); Trustee Trustee or director, Officer | 0.2 | $0 | $0 |
| Carol Houle | Treasurer (start 9/2024); Trustee Trustee or director, Officer | 0.2 | $0 | $0 |
| Jamie Burnett | Secretary; Trustee Trustee or director, Officer | 0.2 | $0 | $0 |
990 for the year ended September 30, 2023: 22 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Christiana Thornton | President & CEO Trustee or director, Officer | 36 | $477,520 | $39,871 |
| Scott Rogers | VP & CFO Officer | 40 | $208,482 | $30,828 |
| John Flanders | VP & Chief Strategy/Lending Officer Officer | 40 | $191,237 | $34,235 |
| Ann Marie Thomas | VP & Chief Risk Officer (end 7/2023) Officer | 40 | $210,079 | $14,756 |
| Erik Sobel | VP Information Services Highest-paid employee | 40 | $181,746 | $18,336 |
| Danielle Barrick | VP Communications & External Affairs Highest-paid employee | 40 | $158,734 | $30,499 |
| Daniel Coughlan | VP Capital Markets/Asset Management Highest-paid employee | 40 | $138,509 | $30,876 |
| Carlton Lewis | Software Development Architect Highest-paid employee | 40 | $137,213 | $25,204 |
| Kathy-Ann Maguire | VP Human Resources Highest-paid employee | 40 | $134,030 | $24,913 |
| Peter Burger | Trustee Trustee or director | 0.2 | $0 | $0 |
| William Dwyer | Trustee (start 7/2023) Trustee or director | 0.2 | $0 | $0 |
| Susan Hollinger | Trustee (end 9/2023) Trustee or director | 0.2 | $0 | $0 |
| Carol Houle | Trustee Trustee or director | 0.2 | $0 | $0 |
| Gordon Koff | Trustee Trustee or director | 0.2 | $0 | $0 |
| Chuck Lloyd | Trustee Trustee or director | 0.2 | $0 | $0 |
| Hans Olson | Trustee Trustee or director | 0.2 | $0 | $0 |
| Sandy Tracy | Trustee Trustee or director | 0.2 | $0 | $0 |
| Susan Huard | Chair Trustee or director, Officer | 0.2 | $0 | $0 |
| Debra Miller | Vice Chair (end 9/2023); Trustee Trustee or director, Officer | 0.2 | $0 | $0 |
| Paul Provost | Trustee; Vice Chair (start 9/2023) Trustee or director, Officer | 0.2 | $0 | $0 |
| Rick Elwell | Treasurer Trustee or director, Officer | 0.2 | $0 | $0 |
| Jamie Burnett | Secretary Trustee or director, Officer | 0.2 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 3 BARRELL COURT, CONCORD, NH 03301-8531
- Principal officer (990 for 2024)
- Christiana Thornton, 3 Barrell Court, Concord, NH 03302
- Signed the 990
- Scott Rogers, Chief Financial Officer
- Phone
- (603) 226-5829
- Website
- www.graniteedvance.org
- Return prepared by
- Baker Newman & Noyes LLC
Mission
To support New Hampshire students and families in navigating their education and career pathways by providing free advisory services, student loans and scholarships for post-secondary education.
Program accomplishments
- The Corporation was organized for the charitable and educational purpose of providing low-cost financial assistance primarily to eligible students attending college in New Hampshire or residents attending college out of state.Expenses $55,794,519 · grants $1,026,288 · revenue $53,741,564
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in September, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | September 30, 2026 | February 15, 2027 | Not due yet |
| 2024 | September 30, 2025 | February 16, 2026 | 990 on file |
| 2023 | September 30, 2024 | February 17, 2025 | 990 on file |
IRS record
- EIN
- 02-0368776
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (509(a)(2))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1983
- Accounting year ends
- September
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Education (B820)
- Assets (IRS master file)
- $912,774,268
- Income (IRS master file)
- $70,339,937
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | September 2025 | $61,204,622 | $59,200,848 | $912,774,268 | XML |
| 990 | September 2024 | $63,939,847 | $60,059,105 | $904,473,074 | XML |
| 990 | September 2023 | $61,725,667 | $60,413,588 | $915,716,327 | XML |
| 990 | September 2022 | $60,034,018 | $52,511,711 | $928,313,847 | IRS |
| 990 | September 2021 | – | – | – | IRS |
| 990 | September 2020 | – | – | – | IRS |
| 990 | September 2019 | – | – | – | IRS |
| 990 | September 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 02-0368776).
Questions about GRANITE EDVANCE CORPORATION
- What is the EIN of GRANITE EDVANCE CORPORATION?
- The employer identification number (EIN) of GRANITE EDVANCE CORPORATION is 02-0368776.
- Is GRANITE EDVANCE CORPORATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1983.
- Are donations to GRANITE EDVANCE CORPORATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does GRANITE EDVANCE CORPORATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of GRANITE EDVANCE CORPORATION due?
- The return for tax year 2025 (the year ending September 30, 2026) is due February 15, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did GRANITE EDVANCE CORPORATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended September 2025.
- Who is the principal officer of GRANITE EDVANCE CORPORATION?
- The 990 for the year ended September 30, 2025 names Christiana Thornton.
- Who are the officers and directors of GRANITE EDVANCE CORPORATION?
- The 990 for the year ended September 30, 2025 lists 26 people; 13 received compensation from the organization, the highest $507,256 (Christiana Thornton, President & CEO).
- How much revenue does GRANITE EDVANCE CORPORATION have?
- On its 990 for the year ended September 30, 2025 it reported revenue of $61,204,622, expenses of $59,200,848 and total assets of $912,774,268 at year end.
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