Granite Edvance Corporation
Granite Edvance Corporation reported $61.2 million in revenue and $59.2 million in expenses for the fiscal year ending September 30, 2025. Of every $100 it spent, $94.25 went to program services, $5.75 to management and general costs and $0.00 to fundraising. Its largest source of revenue was program service revenue such as fees, sales and contracts: 87.8% of the total. The highest compensation it reported for one person was $553,840 (President & CEO). 21 people received more than $100,000 in reportable compensation. Revenue rose 12% between FY2020 and FY2025. Source: Form 990, FY2025.
Where $100 of spending went
The fiscal year ending September 30, 2025 · Form 990, Part IX, line 25 · total expenses $59MFor context, the median across 5,499 covered education charities: $85.56 programs, $13.59 management, $0.85 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
The fiscal year ending September 30, 2025 · Form 990, Part VIII · total revenue $61M- Contributions & grants (non-government)$0.02 $15,000
- Government grants$0.04 $25,000
- Program service revenue$87.69 $54M
- Investment income$12.25 $7.5M
Other revenue was negative: −$84,958. The bar shows the positive sources only.
The 990 scorecard · same measures for every charity, no grades
| Measure | FY2025 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 94.2% | 84.4% |
| Management & general Part IX 25(C) ÷ 25(A) | 5.8% | 13.4% |
| Fundraising Part IX 25(D) ÷ 25(A) | 0.0% | 0.8% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | Not reported | $0.04 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 0.1% | 19.1% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 0.0% | 1.1% |
| Program service revenue share Part VIII 2g ÷ 12 | 87.8% | 69.9% |
| Highest reported compensation Part VII-A, columns D–F | $553,840 | $331,578 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 0.94% | 1.28% |
| People paid over $100,000 Part VII, line 2 | 21 | 8 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 66.4 | 13.3 |
| Independent voting board members Part VI 1a–1b | 13 of 14 | 100.0% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
FY2025 · Form 990, Part III · the three largest programs by expenseHighest reported compensation
FY2025 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here| Role | From this org | From related orgs | Other | Total |
|---|---|---|---|---|
| President & CEO Director/trustee, officer, 40.00 hrs/week | $507,256 | $0 | $46,584 | $553,840 |
| VP & CFO Officer, 40.00 hrs/week | $281,207 | $0 | $42,168 | $323,375 |
| VP & Chief Strategy/Lending Officer Officer, 40.00 hrs/week | $224,643 | $0 | $37,934 | $262,577 |
| Gen. Counsel/Chief Compliance Off. Officer, 40.00 hrs/week | $233,919 | $0 | $8,491 | $242,410 |
| VP Technology Solutions & Security Key employee, 40.00 hrs/week | $194,743 | $0 | $20,712 | $215,455 |
| VP Chief Communications Officer Key employee, 40.00 hrs/week | $191,401 | $0 | $10,153 | $201,554 |
| VP People & Talent Management Key employee, 40.00 hrs/week | $150,897 | $0 | $35,633 | $186,530 |
| VP Capital Markets/Asset Management Key employee, 40.00 hrs/week | $152,779 | $0 | $27,987 | $180,766 |
21 people received more than $100,000 in reportable compensation from Granite Edvance Corporation (Part VII, line 2). Compensation of current officers, directors and key employees totaled $2.2M (Part IX, line 5).
6 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
FY2025 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b14 · 13 independent
- Audited financial statements Part XII 2bYes
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13Yes
- Document retention policy Part VI 14Yes
- Independent process for top executive pay Part VI 15aYes
- Board given the 990 before filing Part VI 11aYes
- Family or business ties among insiders Part VI 2Yes
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26No
- Lobbying, or a 501(h) election in effect Part IV 4Yes
- Over $15,000 of professional fundraising services Part IV 18No
- Over $10,000 of activity outside the U.S. Part IV 14bNo
- Employees Part I, line 5101
- Volunteers Part I, line 696
Largest outside contractors
FY2025 · Form 990, Part VII, Section B · businesses only| Nelnet Servicing LLC Loan Servicing | $2,595,832 |
| Credible Labs Inc Loan Marketing | $1,000,521 |
| Saltwater Collective Marketing | $673,947 |
| Campus Door Holdings Inc Loan Processing | $380,462 |
| Worldcom Exchange Inc Technology Solutions | $164,626 |
Individuals listed as contractors are left out. 9 contractors were paid more than $100,000 in all.
Correct a figure or respond
Every number above is copied from Granite Edvance Corporation's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for Granite Edvance Corporation, you can publish a response that is linked from this page.
Share or embed this breakdown
Of every $100 Granite Edvance Corporation spent in FY2025, $94.25 went to programs. The full breakdown, from its IRS Form 990:
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Similar-sized charities in this cause
- Cardinal McCloskey School and Home for ChildrenValhalla, NY · revenue $61M · programs 85.8% · FY2025
- University of Idaho FoundationMoscow, ID · revenue $61M · programs 93.0% · FY2025
- The Latin School of ChicagoChicago, IL · revenue $61M · programs 82.9% · FY2025
- Foundation of the University of North Carolina at CharlotteCharlotte, NC · revenue $61M · programs 83.4% · FY2025
- Cal Poly Humboldt Sponsored Programs FoundationArcata, CA · revenue $61M · programs 93.1% · FY2025
All education charities · Largest charities in New Hampshire
Questions people ask
How much of Granite Edvance Corporation's spending goes to programs?
In the fiscal year ending September 30, 2025, Granite Edvance Corporation reported that 94.2% of its $59.2 million in expenses went to program services, 5.8% to management and general and 0.0% to fundraising (Form 990, Part IX).
How much does Granite Edvance Corporation pay its top executive?
The largest total compensation Granite Edvance Corporation reported for one person in the fiscal year ending September 30, 2025 was $553,840, for the role of President & CEO (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does Granite Edvance Corporation get its money?
Of $61.2 million in revenue in the fiscal year ending September 30, 2025, 0.1% came from contributions and grants (including 0.0% from government grants) and 87.8% from program service revenue (Form 990, Part VIII).
Is Granite Edvance Corporation a registered charity?
The IRS lists EIN 02-0368776 as a 501(c)(3) organization (publicly supported organization (509(a)(2))), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2019, 2020, 2021, 2022, 2023, 2024. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- FY2025: Form 990 for the fiscal year ending September 30, 2025, object 202610489349300536 · read the filing · XML
- FY2024: Form 990 for the fiscal year ending September 30, 2024, object 202510449349301456 · read the filing
- FY2023: Form 990 for the fiscal year ending September 30, 2023, object 202440449349301904 · read the filing
- FY2022: Form 990 for the fiscal year ending September 30, 2022, object 202320469349300502 · read the filing
- FY2021: Form 990 for the fiscal year ending September 30, 2021, object 202230459349301803 · read the filing
- FY2020: Form 990 for the fiscal year ending September 30, 2020, object 202110459349300301 · read the filing
All filings for EIN 02-0368776: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.