Granite State Management and Resources (EIN 020404239) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1986

Legal Domicile

Principal Officer

Christiana Thornton

Phone

6032255867

Tax Period

2019-10-01 to 2020-03-31

Granite State Management and Resources, founded in 1986, is a mid-sized nonprofit that reported $15.1M in total revenue in fiscal year 2019. Revenue fell 45% from the prior year — a significant decline worth monitoring. Expenses of $14.1M left a modest 6% surplus.

Mission

Administrator/servicer of student loans

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2019)

Revenue Breakdown

Contributions & Grants $86,505

Program Service Revenue $14,371,324

Investment Income $638,808

Other Revenue $0

TOTAL REVENUE $15,096,637

Expense Breakdown

Grants Paid $12,000

Salaries & Benefits $7,255,115

Fundraising Expenses $0

Program Expenses $12,284,076

Other Expenses $6,850,785

TOTAL EXPENSES $14,117,900

Year-over-Year Comparison

	2019	2018	Change
Revenue	$15,096,637	$27,392,450	-0.4%
Expenses	$14,117,900	$25,009,344	-0.4%
Net Income	$978,737	$2,383,106	-0.6%

Key Indicators

✗ Grants to Organizations ✓ Grants to Individuals ✓ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

237

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✓ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$1,485,451

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Rene A Drouin	Former President & CEO	0.00		$690,162	$24,895	$1,222,115
Christiana Thornton	President & CEO	20.00	Officer	$392,578	$32,650	$425,228
Dean A Grondin	VP & CFO (end 10/19)	20.00	Officer	$233,082	$16,754	$249,836
Carlton Lewis	Software Development Architect	40.00	Highest	$121,365	$30,246	$151,611
Daniel Coughlan	VP Finance	40.00	Officer	$119,015	$23,667	$142,682
Sara Tremaine	Former VP & CSO	0.00		$135,913	$4,013	$139,926
Robert Woodburn	AVP Project Management	40.00	Highest	$125,291	$14,328	$139,619
Minatchy Visvanathan	Business Systems Analyst Lead	40.00	Highest	$106,471	$29,729	$136,200
Robert Willey	Software Development Lead	40.00	Highest	$106,496	$29,399	$135,895
Michael Levasseur	VP Compliance	40.00	Officer	$128,105	$7,204	$135,309
Tori Berube	VP CCP & Community Engagem	40.00	Officer	$120,568	$14,644	$135,212
Barton Nichelson	Database Administrator	40.00	Highest	$115,105	$14,566	$129,671
Karen Losik	VP Loan Services	40.00	Officer	$100,315	$20,726	$121,041
Kathy Maguire	VP Human Resources	40.00	Officer	$106,029	$3,538	$109,567
Erik Sobel	VP Information Services	40.00	Officer	$90,548	$5,362	$95,910
John Flanders	VP & COO	40.00	Officer	$66,421	$4,245	$70,666
Jamie Burnett	Trustee	0.20	Director	$0	$0	$0
Matthew Cookson	Trustee	0.20	Director	$0	$0	$0
Clinton Hanson Jr	Trustee	0.20	Director	$0	$0	$0
Brad Poznanski	Trustee	0.20	Director	$0	$0	$0
Paul Provost	Trustee	0.20	Director	$0	$0	$0
Sandra Tracy	Trustee	0.20	Director	$0	$0	$0
Cornelius Joyce	Chairman	0.20	Officer Director	$0	$0	$0
Anthony Chismark	Vice Chairman	0.20	Officer Director	$0	$0	$0
Charles Rolecek	Treasurer	0.20	Officer Director	$0	$0	$0
Thomas Horgan	Secretary	0.20	Officer Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2020	$15,096,637	$14,117,900	No data	$978,737
2019	$27,392,450	$25,009,344	$46,001,608	$2,383,106
2018	$27,601,298	$22,851,118	$44,165,455	$4,750,180

Granite State Management and Resources