ECMC GROUP INC: Form 990, tax year 2023
View the entire original 990 at ProPublica ↗
- Organization
- ECMC GROUP INC (EIN 41-1991995)
- Tax period
- 2023-01-01 to 2023-12-31
- Filed
- 2024-11-14
- IRS object ID
- 202423199349313627
- Schema version
- 2023v5.1
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
- Return header
- Form 990
- Schedule A
- Schedule B
- Schedule C
- Schedule D
- Schedule F
- Schedule I
- Schedule J
- Schedule O
- Schedule R
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2024-11-14T15:26:58-06:00 | ReturnTs |
| Tax Period End | 2023-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 135565207 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | KPMG LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 350 N 5TH ST SUITE 600 | AddressLine1Txt |
| City | MINNEAPOLIS | CityNm |
| State Abbreviation | MN | StateAbbreviationCd |
| ZIP | 55401 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2023-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 411991995 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ECMC GROUP INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | ECMC | BusinessNameControlTxt |
| Phone | 6512210566 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 111 WASHINGTON AVE SO 1400 | AddressLine1Txt |
| City | MINNEAPOLIS | CityNm |
| State Abbreviation | MN | StateAbbreviationCd |
| ZIP | 55401 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | MARTIN A SCANLON | PersonNm |
| Person Title | CFO & TREASURER | PersonTitleTxt |
| Phone | 6512210566 | PhoneNum |
| Signature | 2024-11-14 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | 0 | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | HOLLY K MOEN | PreparerPersonNm |
| PTIN | P01800653 | PTIN |
| Phone | 6123055000 | PhoneNum |
| Preparation | 2024-11-14 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2023 | TaxYr |
| Build TS | 2024-10-15 13:58:12Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | DANIEL S FISHER | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 111 WASHINGTON AVE SO 1400 | AddressLine1Txt |
| City | MINNEAPOLIS | CityNm |
| State Abbreviation | MN | StateAbbreviationCd |
| ZIP | 55401 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $6,083,865,754 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | WWW.ECMCGROUP.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 2000 | FormationYr |
| Legal Domicile State | DE | LegalDomicileStateCd |
| Activity Or Mission | TO HELP STUDENTS SUCCEED BY CREATING, PROVIDING AND INVESTING IN INNOVATIVE EDUCATIONAL OPPORTUNITIES. | ActivityOrMissionDesc |
| Voting Members Governing Body | 9 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 8 | VotingMembersIndependentCnt |
| Total Employee | 233 | TotalEmployeeCnt |
| Total Volunteers | 0 | TotalVolunteersCnt |
| Total Gross UBI | $8,000,693 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $843,646 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $248,434,497 | PYContributionsGrantsAmt |
| CY Contributions Grants | $266,820,829 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $110,098,286 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $191,870,698 | CYProgramServiceRevenueAmt |
| PY Investment Income | $101,941,700 | PYInvestmentIncomeAmt |
| CY Investment Income | $4,573,551,121 | CYInvestmentIncomeAmt |
| PY Other Revenue | $6,856,021 | PYOtherRevenueAmt |
| CY Other Revenue | $9,321,612 | CYOtherRevenueAmt |
| PY Total Revenue | $467,330,504 | PYTotalRevenueAmt |
| CY Total Revenue | $5,041,564,260 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $528,902,334 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $93,361,722 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $15,651,045 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $11,792,601 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $135,624,289 | PYOtherExpensesAmt |
| CY Other Expenses | $163,987,204 | CYOtherExpensesAmt |
| PY Total Expenses | $680,177,668 | PYTotalExpensesAmt |
| CY Total Expenses | $269,141,527 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | -$212,847,164 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $4,772,422,733 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $5,422,363,648 | TotalAssetsBOYAmt |
| Total Assets EOY | $5,293,474,958 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $4,273,162,854 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $4,017,358,201 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $1,149,200,794 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $1,276,116,757 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | ECMC GROUP, INC'S MISSION IS TO HELP STUDENTS SUCCEED BY CREATING, PROVIDING AND INVESTING IN INNOVATIVE EDUCATIONAL OPPORTUNITIES. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $153,559,210 | ExpenseAmt |
| Grant | $0 | GrantAmt |
| Revenue | $191,870,698 | RevenueAmt |
| Desc | LOAN PORTFOLIO SERVICING:ECMC GROUP, INC. AND OAKDALE STUDENT LOAN FUNDING,LLC (OAKDALE), A WHOLLY OWNED SUBSIDIARY OF ECMC GROUP, INC., HAVE ELIGIBLE LENDER TRUST (ELT) AGREEMENTS WITH MANUFACTURERS AND TRADERS TRUST COMPANY. MANUFACTURERS AND TRADERS TRUST COMPANY SERVES AS THE ELT FOR ECMC GROUP, INC. AND OAKDALE. THROUGH THE ELTS, ECMC GROUP, INC. AND OAKDALE PURCHASE FEDERAL FAMILY EDUCATION LOAN PROGRAM (FFELP) REHABILITATED STUDENT LOANS FROM EDUCATIONAL CREDIT MANAGEMENT CORPORATION, A RELATED ENTITY, AND OTHER GUARANTY AGENCIES IN ORDER TO ENSURE THAT STUDENT LOAN BORROWERS CAN REALIZE THE FULL BENEFITS AFFORDED THEM UNDER 34 CFR SEC. 682.405. (CONTINUED ON SCHEDULE O)PATRIOT STUDENT LOAN CAPITAL, LLC (PATRIOT) HAS INTERIM ELIGIBLE LENDER TRUST AGREEMENTS WITH MANUFACTURERS AND TRADERS TRUST COMPANY. ECMC GROUP STUDENT LOAN TRUST 2016-1 (TRUST 2016-1), ECMC GROUP STUDENT LOAN TRUST 2017-1 (TRUST 2017-1), ECMC GROUP STUDENT LOAN TRUST 2017-2 (TRUST 2017-2), ECMC GROUP STUDENT LOAN TRUST 2018-1 (TRUST 2018-1), ECMC GROUP STUDENT LOAN TRUST 2018-2 (TRUST 2018-2), ECMC GROUP STUDENT LOAN TRUST 2019-1 (TRUST 2019-1), ECMC GROUP STUDENT LOAN TRUST 2020-1 (TRUST 2020-1), ECMC GROUP STUDENT LOAN TRUST 2020-2 (TRUST 2020-2), ECMC GROUP STUDENT LOAN TRUST 2020-3 (TRUST 2020-3) AND ECMC GROUP STUDENT LOAN TRUST 2021-1 (TRUST 2021-1), COLLECTIVELY (THE TRUSTS), HAVE ELIGIBLE LENDER TRUST AGREEMENTS WITH MANUFACTURERS AND TRADERS TRUST COMPANY. MANUFACTURERS AND TRADERS TRUST COMPANY SERVES AS THE INTERIM ELIGIBLE LENDER TRUST (INTERIM ELT) FOR PATRIOT AND AS ELIGIBLE LENDER TRUST (ELT) FOR TRUST 2016-1, TRUST 2017-1, TRUST 2017-2, TRUST 2018-1, TRUST 2018-2, TRUST 2019-1, TRUST 2020-1, TRUST 2020-2, TRUST 2020-3 AND TRUST 2021-1. THROUGH THE INTERIM ELT, PATRIOT PURCHASES FFELP REHABILITATED STUDENT LOANS FROM ECMC GROUP, INC. AND OAKDALE AND RESELLS THE LOANS THROUGH THE ELT TO THE TRUSTS. THE TRUSTS ISSUED CLASS A NOTES SECURED BY THE RESPECTIVE STUDENT LOAN PORTFOLIOS. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $92,675,896 | ExpenseAmt |
| Grant | $92,675,896 | GrantAmt |
| Desc | ECMC GROUP, INC. SUPPORTS THE FURTHERANCE OF THE EXEMPT PURPOSE OF EDUCATIONAL CREDIT MANAGEMENT CORPORATION, ECMC EDUCATION, INC., AND ECMC FOUNDATION BY CREATING, PROVIDING AND INVESTING IN INNOVATIVE EDUCATIONAL OPPORTUNITIES. ECMC GROUP, INC. IS A NONPROFIT CORPORATION WHOSE VISION IS TO EMPOWER UNDERSERVED COMMUNITIES TO THRIVE THROUGH EDUCATION. $18,000,000 CASH CONTRIBUTIONS MADE TO ECMC EDUCATION, INC. TO SUPPORT ITS MISSION TO TRANSFORM CAREER AND TECHNICAL EDUCATION TO PROVIDE ASPIRING AND CURRENT LEARNERS WITH SKILLS TO ELEVATE THEIR CAREERS AND COMMUNITIES, $959,896 CONTRIBUTION MADE BY ECMC GROUP, INC. ON BEHALF OF ECMC EDUCATION, INC. FOR ACCRUED SECTION 4968 EXCISE TAX ON NET INVESTMENT INCOME OF ECMC GROUP, INC. AND SUBSIDIARIES. $58,528,000 CASH CONTRIBUTIONS MADE TO ECMC FOUNDATION FOR GENERAL SUPPORT OF ITS MISSION TO IMPROVE HIGHER EDUCATION AND CAREER SUCCESS AMONG UNDERSERVED POPULATIONS THROUGH EVIDENCE-BASED INNOVATION. $15,188,000 CASH CONTRIBUTIONS MADE TO EDUCATIONAL CREDIT MANAGEMENT CORPORATION TO SUPPORT ITS MISSION TO PROVIDE FINANCIAL COUNSELING AND EDUCATION TO EMPOWER STUDENTS TO MAKE BETTER CHOICES ABOUT THEIR FUTURES. | Desc |
Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $684,326 | ExpenseAmt |
| Grant | $684,326 | GrantAmt |
| Revenue | $0 | RevenueAmt |
| Desc | GRANTS & SPONSORSHIPS:GRANTS AND SPONSORSHIPS SUPPLIED BY ECMC GROUP, INC. TO SCHOOLS AND INDIVIDUALS IN SUPPORT OF ITS TAX-EXEMPT PURPOSE. | Desc |
Prog Srvc Accom Acty Other ProgSrvcAccomActyOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $273,825 | ExpenseAmt |
| Grant | $1,500 | GrantAmt |
| Revenue | $0 | RevenueAmt |
| Desc | PUBLIC POLICY:THROUGH THE PUBLIC POLICY PROGRAM, ECMC GROUP, INC. SHARES INFORMATION AMONG ECMC GROUP-RELATED MEMBERS ON LEGISLATIVE PROPOSALS AND GOVERNMENTAL REGULATIONS THAT IMPACT THEIR OPERATIONS. THE PROGRAM ENABLES ECMC GROUP, INC. AFFILIATES TO MONITOR PUBLIC POLICY MATTERS AND PROVIDE NONPARTISAN ANALYSIS AND RESEARCH TO POLICYMAKERS, THOUGHT LEADERS AND THE GENERAL PUBLIC. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Prog Srvc Expense | $273,825 | TotalOtherProgSrvcExpenseAmt |
| Total Other Prog Srvc Grant | $1,500 | TotalOtherProgSrvcGrantAmt |
| Total Other Prog Srvc Revenue | $0 | TotalOtherProgSrvcRevenueAmt |
| Total Program Service Expenses | $247,193,257 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (1) | DescribedInSection501c3Ind |
| Schedule B Required | Yes (1) | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Lobbying Activities | Yes (1) | LobbyingActivitiesInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | Yes (1) | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | Yes (1) | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | 0 | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (1) | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | Yes (1) | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | Yes (1) | GrantsToOrganizationsInd |
| Grants To Individuals | Yes (1) | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | 0 | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | 0 | PYExcessBenefitTransInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | Yes (1) | DisregardedEntityInd |
| Related Entity | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | Yes (1) | RelatedOrganizationCtrlEntInd |
| Transaction With Control Ent | Yes (1) | TransactionWithControlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | 0 | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 62 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Employee | 233 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | Yes (1) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (1) | Form990TFiledInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | 0 | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | 0 | PayPremiumsPrsnlBnftCntrctInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | Yes (1) | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 9 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 8 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | Yes (1) | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (1) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (1) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | CA | StatesWhereCopyOfReturnIsFldCd |
| States Where Copy Of Return Is Fld | MN | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MARTIN A SCANLON | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 6512210566 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 111 WASHINGTON AVE SO STE 1400 | AddressLine1Txt |
| City | MINNEAPOLIS | CityNm |
| State Abbreviation | MN | StateAbbreviationCd |
| ZIP | 55401 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part VII | Yes (X) | InfoInScheduleOPartVIIInd |
Form990 Part VII Section A Form990PartVIISectionAGrp (34 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Key EmployeeKeyEmployeeInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd | Former Ofcr Director TrusteeFormerOfcrDirectorTrusteeInd |
|---|---|---|---|---|---|---|---|---|---|---|
| DANIEL FISHER | ||||||||||
| PRESIDENT & CEO, ECMC GROUP | 40.00 | 0.00 | Yes (X) | Yes (X) | $1,268,659 | $0 | $126,730 | |||
| JAMES V MCKEON | ||||||||||
| BOARD CHAIR | 12.00 | 5.00 | Yes (X) | $0 | $197,500 | $0 | ||||
| DIANA J INGRAM | ||||||||||
| DIRECTOR | 7.00 | 5.00 | Yes (X) | $0 | $151,250 | $0 | ||||
| JACK O'CONNELL | ||||||||||
| DIRECTOR | 5.00 | 5.00 | Yes (X) | $0 | $145,000 | $0 | ||||
| JULIA S GOUW | ||||||||||
| DIRECTOR | 5.00 | 5.00 | Yes (X) | $0 | $155,000 | $0 | ||||
| DEREK LANGHAUSER | ||||||||||
| DIRECTOR | 4.00 | 5.00 | Yes (X) | $0 | $137,500 | $0 | ||||
| JAMES RUNCIE | ||||||||||
| DIRECTOR | 7.00 | 4.00 | Yes (X) | $0 | $128,750 | $0 | ||||
| JENNIFER ANDERSON | ||||||||||
| DIRECTOR | 5.00 | 5.00 | Yes (X) | $0 | $148,750 | $0 | ||||
| K PAUL SINGH | ||||||||||
| DIRECTOR | 7.00 | 5.00 | Yes (X) | $0 | $141,875 | $0 | ||||
| BRIAN BOARDMAN | ||||||||||
| GENERAL COUNSEL & CORP SECRETARY | 40.00 | 0.00 | Yes (X) | $453,655 | $0 | $86,354 | ||||
| GREGORY VAN GUILDER | ||||||||||
| CHIEF INVESTMENT OFFICER | 40.00 | 0.00 | Yes (X) | $1,149,769 | $0 | $97,806 | ||||
| JOSEPH WATT | ||||||||||
| VP, IMPACT INVESTING | 40.00 | 0.00 | Yes (X) | $353,937 | $0 | $34,009 | ||||
| MARTIN SCANLON | ||||||||||
| CFO & TREASURER | 40.00 | 0.00 | Yes (X) | $918,311 | $0 | $104,819 | ||||
| PHILIP BECKER | ||||||||||
| VP, INVESTMENTS | 40.00 | 0.00 | Yes (X) | $531,762 | $0 | $85,078 | ||||
| ADAM TRAMPE | ||||||||||
| VP, DEPUTY GENERAL COUNSEL | 40.00 | 0.00 | $346,448 | $0 | $68,215 | Yes (X) | ||||
| BRUCE FEIST | ||||||||||
| VP, APPLICATIONS & ANALYTICS | 40.00 | 0.00 | $400,940 | $0 | $82,872 | Yes (X) | ||||
| CHRISTOPHER JANZEN | ||||||||||
| VP, ACADEMIC TECHNOLOGY - PART YEAR | 40.00 | 0.00 | $304,915 | $0 | $3,256 | Yes (X) | ||||
| HEIDI JOHNSON | ||||||||||
| CHIEF OF STAFF | 40.00 | 0.00 | $507,841 | $0 | $89,056 | Yes (X) | ||||
| HUGH MCSHERRY | ||||||||||
| VP, CORPORATE SERVICES | 40.00 | 0.00 | $331,116 | $0 | $61,513 | Yes (X) | ||||
| IRIS CUMBERBATCH | ||||||||||
| SR VP, CORPORATE AFFAIRS | 40.00 | 0.00 | $523,304 | $0 | $56,476 | Yes (X) | ||||
| JOHN MCKENNELL | ||||||||||
| CHIEF INFORMATION SECURITY OFFICER | 40.00 | 0.00 | $345,175 | $0 | $69,389 | Yes (X) | ||||
| MATTHEW MIKULSKI | ||||||||||
| VP, INTERNAL AUDIT | 40.00 | 0.00 | $293,968 | $0 | $57,669 | Yes (X) | ||||
| RAHOUL GHOSE | ||||||||||
| CHIEF INFORMATION OFFICER | 40.00 | 0.00 | $688,263 | $0 | $100,107 | Yes (X) | ||||
| SARAH STREHL | ||||||||||
| CHIEF HUMAN RESOURCES OFFICER | 40.00 | 0.00 | $699,742 | $0 | $96,737 | Yes (X) | ||||
| STEVE HANSEN | ||||||||||
| VP, IT | 40.00 | 0.00 | $322,529 | $0 | $58,009 | Yes (X) | ||||
| TIFFANY THOMPSON | ||||||||||
| VP, FINANCE & CONTROLLER | 40.00 | 0.00 | $327,202 | $0 | $33,781 | Yes (X) | ||||
| AARON WOODRICH | ||||||||||
| SR DIR, IT | 40.00 | 0.00 | $245,794 | $0 | $69,830 | Yes (X) | ||||
| CASSIE STARK | ||||||||||
| DIR, HUMAN RESOURCES & TALENT | 40.00 | 0.00 | $243,269 | $0 | $68,501 | Yes (X) | ||||
| DEAN VANDECOEVERING | ||||||||||
| SR DIR, FINANCE | 40.00 | 0.00 | $262,274 | $0 | $44,854 | Yes (X) | ||||
| JAMES FISHER | ||||||||||
| SR DIR, INVESTMENTS | 40.00 | 0.00 | $269,097 | $0 | $46,380 | Yes (X) | ||||
| STEVEN HUPERT | ||||||||||
| DIR, IT | 40.00 | 0.00 | $237,136 | $0 | $71,487 | Yes (X) | ||||
| JEREMY WHEATON | ||||||||||
| FORMER PRESIDENT & CEO, ECMC GROUP | 0.00 | 0.00 | $1,622,127 | $0 | $0 | Yes (X) | ||||
| I KING JORDAN | ||||||||||
| FORMER DIRECTOR | 0.00 | 0.00 | $0 | $30,000 | $0 | Yes (X) | ||||
| JOHN F DEPODESTA | ||||||||||
| FORMER BOARD CHAIR | 0.00 | 0.00 | $0 | $60,000 | $0 | Yes (X) | ||||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $12,647,233 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $1,295,625 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $1,612,928 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 135 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | Yes (1) | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| NAVIENT SOLUTIONS INC | |||||
| 220 LASLEY AVE | WILKES BARRE | PA | 18706 | LOAN PORTFOLIO SERVICING | $6,116,399 |
| AMAZON WEB SERVICES INC | |||||
| PO BOX 84023 | SEATTLE | WA | 98124 | IT SERVICE & SUPPORT | $3,349,765 |
| SOLUTION DESIGN GROUP INC | |||||
| 7500 OLSON MEMIORIAL HWY STE 250 | GOLDEN VALLEY | MN | 55427 | IT SERVICE & SUPPORT | $1,691,029 |
| CDW | |||||
| PO BOX 75723 | CHICAGO | IL | 60675 | IT SERVICE & SUPPORT | $1,191,298 |
| KPMG LLP | |||||
| PO BOX 120922 | DALLAS | TX | 75312 | ACCOUNTING | $1,169,230 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 43 | CntrctRcvdGreaterThan100KCnt |
| Related Organizations | $266,820,829 | RelatedOrganizationsAmt |
| Total Contributions | $266,820,829 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | STUDENT LOAN PORTFOLIO | Desc |
| Business | 900099 | BusinessCd |
| Total Revenue Column | $191,870,698 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $191,870,698 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $191,870,698 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $4,503,584,389 | TotalRevenueColumnAmt |
| Unrelated Business Revenue | -$763,267 | UnrelatedBusinessRevenueAmt |
| Exclusion | $4,504,347,656 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $809,773,391 | SecuritiesAmt |
| Other | $302,494,835 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $802,541,458 | SecuritiesAmt |
| Other | $239,760,036 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $7,231,933 | SecuritiesAmt |
| Other | $62,734,799 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $69,966,732 | TotalRevenueColumnAmt |
| Unrelated Business Revenue | $2,084,492 | UnrelatedBusinessRevenueAmt |
| Exclusion | $67,882,240 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt | ExclusionExclusionAmt |
|---|---|---|---|---|
| SERVICE FEES ON TRUST | 541610 | $5,752,235 | $5,752,235 | |
| EXCISE TAX REFUNDS | 900099 | $2,618,501 | $2,618,501 | |
| ADMINISTRATOR FEES | 541610 | $927,233 | $927,233 |
Miscellaneous Revenue MiscellaneousRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $23,643 | TotalRevenueColumnAmt |
| Exclusion | $23,643 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $9,321,612 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $5,041,564,260 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $191,870,698 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $8,000,693 | UnrelatedBusinessRevenueAmt |
| Exclusion | $4,574,872,040 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $93,234,472 | TotalAmt |
| Program Services | $93,234,472 | ProgramServicesAmt |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $127,250 | TotalAmt |
| Program Services | $127,250 | ProgramServicesAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,210,891 | TotalAmt |
| Management And General | $5,210,891 | ManagementAndGeneralAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,518,333 | TotalAmt |
| Program Services | $1,683,742 | ProgramServicesAmt |
| Management And General | $3,834,591 | ManagementAndGeneralAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $257,349 | TotalAmt |
| Program Services | $84,955 | ProgramServicesAmt |
| Management And General | $172,394 | ManagementAndGeneralAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $487,695 | TotalAmt |
| Program Services | $93,835 | ProgramServicesAmt |
| Management And General | $393,860 | ManagementAndGeneralAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $318,333 | TotalAmt |
| Program Services | $101,033 | ProgramServicesAmt |
| Management And General | $217,300 | ManagementAndGeneralAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $923,954 | TotalAmt |
| Management And General | $923,954 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $485,895 | TotalAmt |
| Management And General | $485,895 | ManagementAndGeneralAmt |
Fees For Services Lobbying FeesForServicesLobbyingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $79,556 | TotalAmt |
| Program Services | $79,556 | ProgramServicesAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $238 | TotalAmt |
| Management And General | $238 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $11,646,413 | TotalAmt |
| Program Services | $7,597,136 | ProgramServicesAmt |
| Management And General | $4,049,277 | ManagementAndGeneralAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,387 | TotalAmt |
| Management And General | $3,387 | ManagementAndGeneralAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,546,650 | TotalAmt |
| Program Services | $53,682 | ProgramServicesAmt |
| Management And General | $1,492,968 | ManagementAndGeneralAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $886,236 | TotalAmt |
| Program Services | $48,650 | ProgramServicesAmt |
| Management And General | $837,586 | ManagementAndGeneralAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $653,875 | TotalAmt |
| Management And General | $653,875 | ManagementAndGeneralAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $384,592 | TotalAmt |
| Program Services | $138,723 | ProgramServicesAmt |
| Management And General | $245,869 | ManagementAndGeneralAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $271,656 | TotalAmt |
| Program Services | $27,050 | ProgramServicesAmt |
| Management And General | $244,606 | ManagementAndGeneralAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $138,425,639 | TotalAmt |
| Program Services | $138,425,639 | ProgramServicesAmt |
Payments To Affiliates PaymentsToAffiliatesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,478,156 | TotalAmt |
| Program Services | $5,478,156 | ProgramServicesAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $8,094,155 | TotalAmt |
| Management And General | $8,094,155 | ManagementAndGeneralAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $279,725 | TotalAmt |
| Management And General | $279,725 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Management And GeneralManagementAndGeneralAmt |
|---|---|---|
| UBI TAX EXPENSE | $1,466,368 | $1,466,368 |
| IMPAIRMENT | $88,136 | $88,136 |
| FILING FEES | $5,627 | $5,627 |
| DEFERRED TAX ASSET ADJ | -$6,817,576 | -$6,817,576 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $84,522 | TotalAmt |
| Program Services | $19,378 | ProgramServicesAmt |
| Management And General | $65,144 | ManagementAndGeneralAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $269,141,527 | TotalAmt |
| Program Services | $247,193,257 | ProgramServicesAmt |
| Management And General | $21,948,270 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $67,232,695 | BOYAmt |
| EOY | $32,148,619 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $190,228,631 | BOYAmt |
| EOY | $192,123,007 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,151,574 | BOYAmt |
| EOY | $17,246,124 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,001,839 | BOYAmt |
| EOY | $9,786,258 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $45,693,857 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $30,864,945 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $25,094,576 | BOYAmt |
| EOY | $14,828,912 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $324,915,975 | BOYAmt |
| EOY | $434,013,918 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,911,377,364 | BOYAmt |
| EOY | $2,069,629,882 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,848,783,342 | BOYAmt |
| EOY | $2,481,748,933 | EOYAmt |
Intangible Assets IntangibleAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $26,352,419 | BOYAmt |
| EOY | $23,823,395 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $18,225,233 | BOYAmt |
| EOY | $18,125,910 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,422,363,648 | BOYAmt |
| EOY | $5,293,474,958 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $21,659,174 | BOYAmt |
| EOY | $19,914,744 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,966,952 | BOYAmt |
| EOY | $2,885,869 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $377,992,351 | BOYAmt |
| EOY | $316,218,000 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,870,544,377 | BOYAmt |
| EOY | $3,678,339,588 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,273,162,854 | BOYAmt |
| EOY | $4,017,358,201 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,149,200,794 | BOYAmt |
| EOY | $1,276,116,757 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,149,200,794 | BOYAmt |
| EOY | $1,276,116,757 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,422,363,648 | BOYAmt |
| EOY | $5,293,474,958 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $4,772,422,733 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | -$167,327,706 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | -$4,478,179,064 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Consolidated Basis Fincl Stmt | Yes (X) | ConsolidatedBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Supporting Organization509a3 | Yes (X) | SupportingOrganization509a3Ind |
| Supporting Org Type2 | Yes (X) | SupportingOrgType2Ind |
| Supported Organizations | 1 | SupportedOrganizationsCnt |
Supported Org Information SupportedOrgInformationGrp
Supported Organization Name SupportedOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | EDUCATIONAL CREDIT MANAGEMENT CORPORATION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 411778617 | EIN |
| Organization Type | 10 | OrganizationTypeCd |
| Governing Document Listed | Yes (1) | GoverningDocumentListedInd |
| Support | $0 | SupportAmt |
| Other Support | $273,825 | OtherSupportAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Supported Organizations Total | 1 | SupportedOrganizationsTotalCnt |
| Support Sum | $0 | SupportSumAmt |
| Other Support Sum | $273,825 | OtherSupportSumAmt |
Form990 Sch A Supporting Org Form990SchASupportingOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Listed By Name Governing Doc | Yes (1) | ListedByNameGoverningDocInd |
| Suprt Org No IRS Determination | 0 | SuprtOrgNoIRSDeterminationInd |
| Supported Org Section C456 | 0 | SupportedOrgSectionC456Ind |
| Supported Org Not Organized US | 0 | SupportedOrgNotOrganizedUSInd |
| Organization Change Suprt Org | Yes (1) | OrganizationChangeSuprtOrgInd |
| Supported Org Class Designated | 0 | SupportedOrgClassDesignatedInd |
| Support Non Supported Org | 0 | SupportNonSupportedOrgInd |
| Payment Substantial Contribtr | 0 | PaymentSubstantialContribtrInd |
| Loan Disqualified Person | 0 | LoanDisqualifiedPersonInd |
| Controlled Disqualified Prsn | 0 | ControlledDisqualifiedPrsnInd |
| Disqualified Prsn Controll Int | 0 | DisqualifiedPrsnControllIntInd |
| Disqualified Prsn Ownr Int | 0 | DisqualifiedPrsnOwnrIntInd |
| Excess Business Holdings Rules | 0 | ExcessBusinessHoldingsRulesInd |
| Contribution Controller | 0 | ContributionControllerInd |
| Contribution Family | 0 | ContributionFamilyInd |
| Contribution35 Controlled | 0 | Contribution35ControlledInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Majority Dir Trst Supported Org | Yes (1) | MajorityDirTrstSupportedOrgInd |
Form990 Schedule A Part VI Form990ScheduleAPartVIGrp (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART I, LINE 12G, COLUMN (VI): | ECMC GROUP, INC. PROVIDED $273,825 OF NONMONETARY SUPPORT TO EDUCATIONAL CREDIT MANAGEMENT CORPORATION FOR PUBLIC POLICY SERVICES RENDERED. |
| PART IV, SECTION A, LINE 5A: | IN MARCH 2022, A PLAN FOR LIQUIDATION FOR ECMC EDUCATION, INC. WAS APPROVED BY THE BOARD OF DIRECTORS AND ENROLLMENTS WERE NO LONGER ACCEPTED EFFECTIVE IMMEDIATELY. TEACH-OUTS WERE COMPLETED DURING 2023, WITH RELATED EXPENSES BEING SETTLED THROUGH 2027. IN OCTOBER 2023, ECMC GROUP, INC. AMENDED ITS BYLAWS AND ARTICLES OF INCORPORATION TO REMOVE ECMC EDUCATION, INC. (EIN: 47-2237488) AS A SUPPORTED ORGANIZATION BECAUSE ECMC EDUCATION, INC. NO LONGER ENROLLS ANY STUDENTS AND IS IN THE PROCESS OF LIQUIDATING. |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
Schedule C IRS990ScheduleC
| Field | Value | IRS element (for citing) |
|---|---|---|
| Volunteers | 0 | VolunteersInd |
| Paid Staff Or Management | Yes (1) | PaidStaffOrManagementInd |
| Media Advertisements | 0 | MediaAdvertisementsInd |
| Mailings Members | 0 | MailingsMembersInd |
| Publications Or Broadcast | 0 | PublicationsOrBroadcastInd |
| Grants Other Organizations | 0 | GrantsOtherOrganizationsInd |
| Direct Contact Legislators | Yes (1) | DirectContactLegislatorsInd |
| Direct Contact Legislators | $81,348 | DirectContactLegislatorsAmt |
| Rallies Demonstrations | 0 | RalliesDemonstrationsInd |
| Other Activities | 0 | OtherActivitiesInd |
| Total Lobbying Expenditures | $81,348 | TotalLobbyingExpendituresAmt |
| Not Described Section501c3 | 0 | NotDescribedSection501c3Ind |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | SCHEDULE C, PART II-B LINE 1A: | FormAndLineReferenceDesc |
| Explanation | GENERAL LOBBYING ACTIVITIES ON LEGISLATIVE ISSUES OF RELEVANCE TO ECMC GROUP, INC. | ExplanationTxt |
Schedule D IRS990ScheduleD
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $14,756,922 | OtherCostOrOtherBasisAmt |
| Depreciation | $8,748,019 | DepreciationAmt |
| Book Value | $6,008,903 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $27,207,575 | OtherCostOrOtherBasisAmt |
| Depreciation | $18,608,211 | DepreciationAmt |
| Book Value | $8,599,364 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $3,729,360 | OtherCostOrOtherBasisAmt |
| Depreciation | $3,508,715 | DepreciationAmt |
| Book Value | $220,645 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $14,828,912 | TotalBookValueLandBuildingsAmt |
Other Securities OtherSecuritiesGrp (5 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| INV IN ECMC HOLDINGS CORPORATION | $98,552,654 | F |
| INV IN OAKDALE INV MGMT CORP | $2,457,348 | F |
| ALTERNATIVE INVESTMENTS | $1,776,972,038 | F |
| DIRECT INVESTMENTS | $77,342,881 | F |
| IMPACT INVESTMENTS | $114,304,961 | F |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Securities | $2,069,629,882 | TotalBookValueSecuritiesAmt |
Invst Program Related Org InvstProgramRelatedOrgGrp (2 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| STUDENT LOAN REC-HELD FOR SALE | $13,215,277 | F |
| STUDENT LOAN RECEIABLE-PLEDGED | $2,468,533,656 | C |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Program Rltd | $2,481,748,933 | TotalBookValueProgramRltdAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (13 entries)
| DescDesc | AmtAmt |
|---|---|
| FOUNDATION DEPOSITS IN ECMC GROUP, INC. APPORTIONED INVESTMENT POOL | $1,678,888,241 |
| DEFERRED FINANCING FEES | -$12,640,324 |
| OPERATING LEASE | $6,701,097 |
| SECURED BORROWINGS OF ECMC GROUP STUDENT LOAN TRUST 2016-1 | $156,848,382 |
| SECURED BORROWINGS OF ECMC GROUP STUDENT LOAN TRUST 2017-1 | $205,474,765 |
| SECURED BORROWINGS OF ECMC GROUP STUDENT LOAN TRUST 2017-2 | $247,857,425 |
| SECURED BORROWINGS OF ECMC GROUP STUDENT LOAN TRUST 2018-1 | $244,035,139 |
| SECURED BORROWINGS OF ECMC GROUP STUDENT LOAN TRUST 2018-2 | $175,784,724 |
| SECURED BORROWINGS OF ECMC GROUP STUDENT LOAN TRUST 2019-1 | $175,242,276 |
| SECURED BORROWINGS OF ECMC GROUP STUDENT LOAN TRUST 2020-1 | $196,586,641 |
| SECURED BORROWINGS OF ECMC GROUP STUDENT LOAN TRUST 2020-2 | $200,272,495 |
| SECURED BORROWINGS OF ECMC GROUP STUDENT LOAN TRUST 2020-3 | $192,662,973 |
| SECURED BORROWINGS OF ECMC GROUP STUDENT LOAN TRUST 2021-1 | $210,625,754 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $3,678,339,588 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
Supplemental Information Detail SupplementalInformationDetail (3 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART X, LINE 2: | ECMC GROUP, ECMC, EDUCATION, AND FOUNDATION ARE NONPROFIT 501(C)(3) CORPORATIONS AND ARE EXEMPT FROM FEDERAL AND STATE INCOME TAXES. HOLDINGS AND ITS SUBSIDIARIES ARE TAXABLE ENTITIES AND ACCOUNT FOR DEFERRED TAX ASSETS AND LIABILITIES UNDER THE LIABILITY METHOD. DEFERRED TAX LIABILITIES ARE RECOGNIZED FOR TEMPORARY DIFFERENCES THAT WILL RESULT IN TAXABLE AMOUNTS IN FUTURE YEARS. DEFERRED TAX ASSETS ARE RECOGNIZED FOR DEDUCTIBLE TEMPORARY DIFFERENCES AND TAX OPERATING LOSS AND TAX CREDIT CARRY FORWARDS. DEFERRED TAX ASSETS ARE REDUCED BY A VALUATION ALLOWANCE WHEN, IN THE OPINION OF MANAGEMENT, IT IS MORE LIKELY THAN NOT THAT SOME PORTION OR ALL OF THE DEFERRED TAX ASSETS WILL NOT BE REALIZED. WITH FEW EXCEPTIONS, GROUP IS NO LONGER SUBJECT TO U.S. FEDERAL, STATE OR LOCAL INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR THE YEARS BEFORE 2019. IN THE EVENT OF ANY CURRENT OR FUTURE TAX ASSESSMENTS, HOLDINGS AND ITS SUBSIDIARIES HAVE ELECTED TO RECORD THE INCOME TAXES AND ANY RELATED INTEREST AND PENALTIES AS INCOME TAX EXPENSE ON GROUP'S CONSOLIDATED STATEMENTS OF ACTIVITIES. |
| SCHEDULE D, PART X, LINE 1: | $156,848,382 FLOATING RATE CLASS A NOTES SECURED BORROWING OF ECMC GROUP STUDENT LOAN TRUST 2016-1. $205,474,765 FLOATING RATE CLASS A NOTES SECURED BORROWING OF ECMC GROUP STUDENT LOAN TRUST 2017-1. $247,857,425 FLOATING RATE CLASS A NOTES SECURED BORROWING OF ECMC GROUP STUDENT LOAN TRUST 2017-2. $244,035,139 FLOATING RATE CLASS A NOTES SECURED BORROWING OF ECMC GROUP STUDENT LOAN TRUST 2018-1. $175,784,724 FLOATING RATE CLASS A NOTES SECURED BORROWING OF ECMC GROUP STUDENT LOAN TRUST 2018-2. $175,242,276 FLOATING RATE CLASS A NOTES SECURED BORROWING OF ECMC GROUP STUDENT LOAN TRUST 2019-1. $196,586,641 FLOATING RATE CLASS A NOTES SECURED BORROWING OF ECMC GROUP STUDENT LOAN TRUST 2020-1. $200,272,495 FLOATING RATE CLASS A NOTES SECURED BORROWING OF ECMC GROUP STUDENT LOAN TRUST 2020-2. $192,662,973 FLOATING RATE CLASS A NOTES SECURED BORROWING OF ECMC GROUP STUDENT LOAN TRUST 2020-3. $210,625,754 FLOATING RATE CLASS A NOTES SECURED BORROWING OF ECMC GROUP STUDENT LOAN TRUST 2021-1. ECMC GROUP STUDENT LOAN TRUST 2016-1, ECMC GROUP STUDENT LOAN TRUST 2017-1, ECMC GROUP STUDENT LOAN TRUST 2017-2, ECMC GROUP STUDENT LOAN TRUST 2018-1, ECMC GROUP STUDENT LOAN TRUST 2018-2, ECMC GROUP STUDENT LOAN TRUST 2019-1, ECMC GROUP STUDENT LOAN TRUST 2020-1, ECMC GROUP STUDENT LOAN TRUST 2020-2, ECMC GROUP STUDENT LOAN TRUST 2020-3 AND ECMC GROUP STUDENT LOAN TRUST 2021-1, ARE DELAWARE STATUTORY TRUSTS, THAT PURCHASE STUDENT LOANS AND ACCRUED INTEREST FROM PATRIOT STUDENT LOAN CAPITAL, LLC AND SECURITIZE THE ASSETS WITH AN ISSUANCE OF DEBT. THE SECURITIZATION USES A TWO-STEP STRUCTURE THAT LEGALLY ISOLATES THE TRANSFERRED ASSETS. THESE TRANSACTIONS ARE ACCOUNTED FOR AS AN ON-BALANCE SHEET SECURED BORROWING. PATRIOT STUDENT LOAN CAPITAL, LLC, A DISREGARDED ENTITY OF ECMC GROUP, INC., HOLDS THE PRIMARY BENEFICIAL INTEREST IN THE TRUST. ECMC GROUP, INC. IS THE PRIMARY BENEFICIARY OF THE SECURITIZATION TRUST AND IS REQUIRED TO CONSOLIDATE THE TRUST. |
| SCHEDULE D, PART X, LINE 1: | $1,678,888,241. AT DECEMBER 31, 2023, ECMC FOUNDATION WAS A PARTICIPANT IN THE ECMC GROUP, INC. APPORTIONED INVESTMENT POOL ("APPORTIONED INVESTMENT POOL"). A PORTION OF ECMC GROUP, INC.'S ASSETS ARE HELD IN THE ECMC GROUP, INC. INVESTMENT PORTFOLIO ASSET POOL, WHICH IS MANAGED BY ECMC GROUP, INC. PARTICIPATION IN THE APPORTIONED INVESTMENT POOL IS AVAILABLE TO ECMC GROUP, INC. AND ITS ELIGIBLE SUBSIDIARIES. INVESTMENTS IN THE APPORTIONED INVESTMENT POOL REPRESENT AN OWNERSHIP INTEREST IN THE INVESTMENT POOL, NOT IN THE UNDERLYING ASSETS THEMSELVES, AND ARE GENERALLY REDEEMABLE TO THE ELIGIBLE SUBSIDIARY UPON REQUEST. UNAPPORTIONED INVESTMENTS, NET, ARE NOT SUBJECT TO PARTICIPATION BY ECMC GROUP, INC.'S SUBSIDIARIES. |
Schedule F IRS990ScheduleF
Account Activities Outside US AccountActivitiesOutsideUSGrp (3 entries)
| RegionRegionTxt | OfficesOfficesCnt | EmployeeEmployeeCnt | Type Of Activities ConductedTypeOfActivitiesConductedTxt | Region Total ExpendituresRegionTotalExpendituresAmt |
|---|---|---|---|---|
| CENTRAL AMERICA AND THE CARIBBEAN | 0 | 0 | INVESTMENTS | $488,562,000 |
| EUROPE (INCLUDING ICELAND AND GREENLAND) | 0 | 0 | INVESTMENTS | $40,870,000 |
| NORTH AMERICA | 0 | 0 | INVESTMENTS | $18,507,000 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Subtotal Offices | 0 | SubtotalOfficesCnt |
| Subtotal Employees | 0 | SubtotalEmployeesCnt |
| Continuation Total Office | 0 | ContinuationTotalOfficeCnt |
| Continuation Total Employee | 0 | ContinuationTotalEmployeeCnt |
| Total Office | 0 | TotalOfficeCnt |
| Total Employee | 0 | TotalEmployeeCnt |
| Subtotal Spent | $547,939,000 | SubtotalSpentAmt |
| Continuation Spent | $0 | ContinuationSpentAmt |
| Total Spent | $547,939,000 | TotalSpentAmt |
| Transfer To Foreign Corp | Yes (1) | TransferToForeignCorpInd |
| Interest In Foreign Trust | 0 | InterestInForeignTrustInd |
| Foreign Corp Ownership | Yes (1) | ForeignCorpOwnershipInd |
| Passive Foreign Investmest Co | Yes (1) | PassiveForeignInvestmestCoInd |
| Foreign Partnership | Yes (1) | ForeignPartnershipInd |
| Boycott Countries | 0 | BoycottCountriesInd |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable (16 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Recipient EINRecipientEIN | IRC SectionIRCSectionDesc | Cash GrantCashGrantAmt | Non Cash AssistanceNonCashAssistanceAmt | Purpose Of GrantPurposeOfGrantTxt |
|---|---|---|---|---|---|---|---|---|
| ANN BANCROFT FOUNDATION | ||||||||
| 2356 UNIVERSITY AVE W STE 404 | ST PAUL | MN | 55114 | 411691868 | 501(C)(3) | $25,000 | $0 | GENERAL SUPPORT |
| BESTPREP | ||||||||
| 7100 NORTHLAND CIR N STE 120 | BROOKLYN PARK | MN | 55428 | 411265355 | 501(C)(3) | $40,300 | $0 | PROGRAM SPONSORSHIP |
| CRISTO REY JESUIT HIGH SCHOOL TWIN CITIES | ||||||||
| 2924 4TH AVE S | MINNEAPOLIS | MN | 55408 | 204548714 | 501(C)(3) | $47,500 | $0 | CORPORATE INTERNSHIP PROGRAM |
| GREATER MINNEAPOLIS CHAMBER DEVELOPMENT FOUNDATION | ||||||||
| 81 S 9TH ST STE 200 | MINNEAPOLIS | MN | 55402 | 363468708 | 501(C)(3) | $15,000 | $0 | PROGRAM SPONSORSHIP |
| JUNIOR ACHIEVEMENT NORTH | ||||||||
| 1745 UNIVERSITY AVE W | ST PAUL | MN | 55104 | 411424988 | 501(C)(3) | $45,000 | $0 | PROGRAM SPONSORSHIP |
| JUNIOR ACHIEVEMENT OF SACRAMENTO INC | ||||||||
| 3800 WATT AVE STE 285 | SACRAMENTO | CA | 95821 | 946080866 | 501(C)(3) | $10,000 | $0 | PROGRAM SPONSORSHIP |
| JUNIOR ACHIEVEMENT OF SOUTHERN CALIFORNIA INC | ||||||||
| 6250 FOREST LAWN DR | LOS ANGELES | CA | 90068 | 951799192 | 501(C)(3) | $7,500 | $0 | PROGRAM SPONSORSHIP |
| MBP EDUCATION FOUNDATION | ||||||||
| 80 S 8TH ST STE 4150 | MINNEAPOLIS | MN | 55402 | 208876254 | 501(C)(3) | $10,000 | $0 | GENERAL SUPPORT |
| METROPOLITAN STATE UNIVERSITY FOUNDATION | ||||||||
| 700 7TH ST E | ST PAUL | MN | 55106 | 237296162 | 501(C)(3) | $26,250 | $0 | SCHOLARSHIP |
| READING PARTNERS TWIN CITIES | ||||||||
| 2324 UNIVERSITY AVE W STE 105 | ST PAUL | MN | 55114 | 770568469 | 501(C)(3) | $5,266 | $0 | GENERAL SUPPORT |
| UNIVERSITY OF MINNESOTA FOUNDATION | ||||||||
| 321 19TH AVE S STE 4-300 | MINNEAPOLIS | MN | 55455 | 416042488 | 501(C)(3) | $217,500 | $0 | JOHN DEPODESTA LEADERSHIP PROGRAM & PROGRAM SPONSORSHIP |
| URBAN VENTURES LEADERSHIP FOUNDATION | ||||||||
| 2924 4TH AVE S | MINNEAPOLIS | MN | 55408 | 363558710 | 501(C)(3) | $7,500 | $0 | PROGRAM SPONSORSHIP |
| AMERICAN RED CROSS | ||||||||
| 25688 NETWORK PL | CHICAGO | IL | 60673 | 530196605 | 501(C)(3) | $20,000 | $0 | MAUI FIRE DISASTER RELIEF |
| ECMC EDUCATION INC | ||||||||
| 111 WASHINGTON AVE S STE 1400 | MINNEAPOLIS | MN | 55401 | 472237488 | 501(C)(3) | $18,959,896 | $0 | GENERAL SUPPORT |
| ECMC FOUNDATION | ||||||||
| 111 WASHINGTON AVE S STE 1400 | MINNEAPOLIS | MN | 55401 | 411990628 | 501(C)(3) | $58,528,000 | $0 | GENERAL SUPPORT |
| EDUCATIONAL CREDIT MANAGEMENT CORPORATION | ||||||||
| 111 WASHINGTON AVE S STE 1400 | MINNEAPOLIS | MN | 55401 | 411778617 | 501(C)(3) | $15,188,000 | $0 | GENERAL SUPPORT |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 16 | Total501c3OrgCnt |
| Total Other Org | 0 | TotalOtherOrgCnt |
Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Type | ROBERT A. STEIN SCHOLARSHIP | GrantTypeTxt |
| Recipient | 23 | RecipientCnt |
| Cash Grant | $127,250 | CashGrantAmt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 2: | FormAndLineReferenceDesc |
| Explanation | ECMC GROUP, INC. IS THE SOLE MEMBER OF EDUCATIONAL CREDIT MANAGEMENT CORPORATION, ECMC FOUNDATION, ECMC EDUCATION, INC. AND ECMC HOLDINGS CORPORATION AND CLOSELY MONITORS THE USE OF THE CASH GRANT THROUGH REPORTS TO MANAGEMENT AND THE BOARD OF DIRECTORS ON A REGULAR BASIS. THE ROBERT A. STEIN SCHOLARSHIPS LISTED IN PART III ARE ISSUED AS JOINTLY PAYABLE TO THE STUDENT AND THE SCHOOL TO ENSURE THE FUNDS ARE USED FOR EDUCATIONAL EXPENSES. THE INDIVIDUAL SCHOLARSHIPS WERE AWARDED TO FURTHER THE INDIVIDUALS' EDUCATION. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| First Class Or Charter Travel | Yes (X) | FirstClassOrCharterTravelInd |
| Travel For Companions | Yes (X) | TravelForCompanionsInd |
| Idemnification Gross Up Pmts | Yes (X) | IdemnificationGrossUpPmtsInd |
| Written Policy Ref T And E Expnss | Yes (1) | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | Yes (1) | SubstantiationRequiredInd |
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | Yes (1) | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | Yes (1) | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | 0 | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | Yes (1) | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | 0 | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | Yes (1) | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | 0 | AnyNonFixedPaymentsInd |
| Initial Contract Exception | 0 | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (29 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| JEREMY WHEATON | ||||||||||||||
| FORMER PRESIDENT & CEO, ECMC GROUP | $0 | $0 | $0 | $0 | $1,622,127 | $0 | $0 | $0 | $0 | $0 | $1,622,127 | $0 | $122,127 | $0 |
| DANIEL FISHER | ||||||||||||||
| PRESIDENT & CEO, ECMC GROUP | $565,637 | $0 | $676,489 | $0 | $26,533 | $0 | $91,123 | $0 | $35,607 | $0 | $1,395,389 | $0 | $22,500 | $0 |
| GREGORY VAN GUILDER | ||||||||||||||
| CHIEF INVESTMENT OFFICER | $687,163 | $0 | $411,404 | $0 | $51,202 | $0 | $87,614 | $0 | $10,192 | $0 | $1,247,575 | $0 | $45,000 | $0 |
| MARTIN SCANLON | ||||||||||||||
| CFO & TREASURER | $417,201 | $0 | $475,795 | $0 | $25,315 | $0 | $74,390 | $0 | $30,429 | $0 | $1,023,130 | $0 | $22,500 | $0 |
| SARAH STREHL | ||||||||||||||
| CHIEF HUMAN RESOURCES OFFICER | $329,011 | $0 | $345,405 | $0 | $25,326 | $0 | $59,524 | $0 | $37,213 | $0 | $796,479 | $0 | $22,500 | $0 |
| RAHOUL GHOSE | ||||||||||||||
| CHIEF INFORMATION OFFICER | $319,753 | $0 | $338,689 | $0 | $29,821 | $0 | $60,763 | $0 | $39,344 | $0 | $788,370 | $0 | $19,944 | $0 |
| PHILIP BECKER | ||||||||||||||
| VP, INVESTMENTS | $363,279 | $0 | $154,503 | $0 | $13,980 | $0 | $49,195 | $0 | $35,883 | $0 | $616,840 | $0 | $12,952 | $0 |
| HEIDI JOHNSON | ||||||||||||||
| CHIEF OF STAFF | $237,342 | $0 | $245,155 | $0 | $25,344 | $0 | $49,584 | $0 | $39,472 | $0 | $596,897 | $0 | $11,730 | $0 |
| IRIS CUMBERBATCH | ||||||||||||||
| SR VP, CORPORATE AFFAIRS | $247,369 | $0 | $249,710 | $0 | $26,225 | $0 | $40,838 | $0 | $15,638 | $0 | $579,780 | $0 | $10,862 | $0 |
| BRIAN BOARDMAN | ||||||||||||||
| GENERAL COUNSEL & CORP SECRETARY | $285,326 | $0 | $160,921 | $0 | $7,408 | $0 | $45,095 | $0 | $41,259 | $0 | $540,009 | $0 | $4,902 | $0 |
| BRUCE FEIST | ||||||||||||||
| VP, APPLICATIONS & ANALYTICS | $277,113 | $0 | $121,800 | $0 | $2,027 | $0 | $43,400 | $0 | $39,472 | $0 | $483,812 | $0 | $548 | $0 |
| ADAM TRAMPE | ||||||||||||||
| VP, DEPUTY GENERAL COUNSEL | $234,368 | $0 | $105,000 | $0 | $7,080 | $0 | $32,268 | $0 | $35,947 | $0 | $414,663 | $0 | $504 | $0 |
| JOHN MCKENNELL | ||||||||||||||
| CHIEF INFORMATION SECURITY OFFICER | $245,581 | $0 | $97,500 | $0 | $2,094 | $0 | $39,386 | $0 | $30,003 | $0 | $414,564 | $0 | $0 | $0 |
| HUGH MCSHERRY | ||||||||||||||
| VP, CORPORATE SERVICES | $223,674 | $0 | $104,895 | $0 | $2,547 | $0 | $29,103 | $0 | $32,410 | $0 | $392,629 | $0 | $608 | $0 |
| JOSEPH WATT | ||||||||||||||
| VP, IMPACT INVESTING | $250,000 | $0 | $99,965 | $0 | $3,972 | $0 | $34,009 | $0 | $0 | $0 | $387,946 | $0 | $2,622 | $0 |
| STEVE HANSEN | ||||||||||||||
| VP, IT | $226,418 | $0 | $90,956 | $0 | $5,155 | $0 | $28,878 | $0 | $29,131 | $0 | $380,538 | $0 | $90 | $0 |
| TIFFANY THOMPSON | ||||||||||||||
| VP, FINANCE & CONTROLLER | $229,291 | $0 | $96,750 | $0 | $1,161 | $0 | $31,531 | $0 | $2,250 | $0 | $360,983 | $0 | $212 | $0 |
| MATTHEW MIKULSKI | ||||||||||||||
| VP, INTERNAL AUDIT | $204,190 | $0 | $86,625 | $0 | $3,153 | $0 | $33,175 | $0 | $24,494 | $0 | $351,637 | $0 | $0 | $0 |
| AARON WOODRICH | ||||||||||||||
| SR DIR, IT | $199,974 | $0 | $44,597 | $0 | $1,223 | $0 | $29,808 | $0 | $40,022 | $0 | $315,624 | $0 | $0 | $0 |
| JAMES FISHER | ||||||||||||||
| SR DIR, INVESTMENTS | $223,845 | $0 | $43,985 | $0 | $1,267 | $0 | $16,762 | $0 | $29,618 | $0 | $315,477 | $0 | $0 | $0 |
| CASSIE STARK | ||||||||||||||
| DIR, HUMAN RESOURCES & TALENT | $181,707 | $0 | $60,075 | $0 | $1,487 | $0 | $29,296 | $0 | $39,205 | $0 | $311,770 | $0 | $0 | $0 |
| STEVEN HUPERT | ||||||||||||||
| DIR, IT | $193,877 | $0 | $41,710 | $0 | $1,549 | $0 | $39,740 | $0 | $31,747 | $0 | $308,623 | $0 | $0 | $0 |
| CHRISTOPHER JANZEN | ||||||||||||||
| VP, ACADEMIC TECHNOLOGY - PART YEAR | $16,312 | $0 | $0 | $0 | $288,603 | $0 | $1,834 | $0 | $1,422 | $0 | $308,171 | $0 | $35,084 | $0 |
| DEAN VANDECOEVERING | ||||||||||||||
| SR DIR, FINANCE | $212,718 | $0 | $48,353 | $0 | $1,203 | $0 | $31,356 | $0 | $13,498 | $0 | $307,128 | $0 | $0 | $0 |
| JAMES V MCKEON | ||||||||||||||
| BOARD CHAIR | $0 | $197,500 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $197,500 | $0 | $0 |
| JULIA S GOUW | ||||||||||||||
| DIRECTOR | $0 | $155,000 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $155,000 | $0 | $0 |
| DIANA J INGRAM | ||||||||||||||
| DIRECTOR | $0 | $151,250 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $151,250 | $0 | $0 |
| JOHN F DEPODESTA | ||||||||||||||
| FORMER BOARD CHAIR | $0 | $60,000 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $60,000 | $0 | $0 |
| I KING JORDAN | ||||||||||||||
| FORMER DIRECTOR | $0 | $30,000 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $30,000 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail (4 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART I, LINE 1A | TRAVEL FOR COMPANIONS: ECMC GROUP, INC.'S TRAVEL POLICY HAD AN EXCEPTION THAT WAS APPROVED BY THE CFO (AND DEVIATIONS FROM ANY PROVISION OF THE POLICY MUST BE APPROVED IN WRITING BY AN OFFICER IN CONJUNCTION WITH THE ECMC GROUP, INC. CFO). IN 2023, ECMC GROUP, INC. PAID TRAVEL EXPENSES FOR AN ECMC GROUP, INC. EMPLOYEE'S SPOUSE TO ATTEND A COMPANY-SPONSORED EVENT. THE EXCEPTION TO POLICY WAS APPROVED. FIRST-CLASS OR CHARTER TRAVEL: GREGORY VAN GUILDER TRAVELED FIRST-CLASS PAID FOR BY ECMC GROUP, INC. THIS BENEFIT WAS NOT TREATED AS TAXABLE COMPENSATION IN 2023. TAX INDEMNIFICATION AND GROSS-UP PAYMENTS: CERTAIN TAXABLE BENEFITS ARE GROSSED UP TO MAKE THE EMPLOYEE WHOLE; THIS HAS BEEN APPROVED BY THE BOARD OF DIRECTORS. |
| PART I, LINES 4A-B | LINE 4A - SEVERANCE OR CHANGE-OF-CONTROL PAYMENT: THE FOLLOWING RECEIVED A SEVERANCE PAYMENT IN 2023: JEREMY WHEATON - $1,500,000 CHRISTOPHER JANZEN - $237,409 LINE 4B - SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN: ECMC GROUP, INC. MAINTAINS A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN DESCRIBED IN SECTION 457(F), AND A SUPPLEMENTAL EMPLOYEE RETIREMENT PLAN (SERP), TO ATTRACT AND RETAIN EMPLOYEES, TYPICALLY IN MANAGEMENT POSITIONS. IN 2023, DANIEL FISHER AND MARTIN SCANLON PARTICIPATED IN THE 457(F) PLAN, AND RECEIVED EMPLOYER CONTRIBUTIONS OF $32,289 AND $11,248, RESPECTIVELY. |
| PART I, LINE 5 | ECMC GROUP, INC.'S ANNUAL OFFICER INCENTIVE PLAN REQUIRES ACHIEVEMENT OF STATED PRIMARY FINANCIAL GOALS, WHICH INCLUDES REVENUES, BEFORE ANY PAYMENT TO ANY OFFICER IS MADE. |
| PART I, LINE 6 | ECMC GROUP, INC.'S ANNUAL OFFICER INCENTIVE PLAN REQUIRES ACHIEVEMENT OF STATED KEY PERFORMANCE METRICS, WHICH INCLUDES NET EARNINGS, BEFORE ANY PAYMENT TO ANY OFFICER IS MADE. |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (9 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 4 | ECMC GROUP'S BYLAWS AND CERTIFICATE OF INCORPORATION WERE AMENDED TO REMOVE ECMC EDUCATION, INC. AS A SUPPORTED ORGANIZATION. |
| FORM 990, PART VI, SECTION A, LINE 6 | EACH DIRECTOR OF THE ECMC GROUP, INC.'S BOARD OF DIRECTORS IS A MEMBER OF ECMC GROUP, INC. AT YEAR END 2023, THERE WERE 9 MEMBERS OF THE BOARD OF DIRECTORS AND, THEREFORE, 9 MEMBERS OF THE CORPORATION. MEMBERSHIP TERMINATES UPON THE TERMINATION OF SUCH MEMBER'S DIRECTOR STATUS ON THE BOARD OF DIRECTORS. THERE ARE NO STOCKHOLDERS. |
| FORM 990, PART VI, SECTION A, LINE 7A | THE MEMBERS OF ECMC GROUP, INC. BOARD OF DIRECTORS ARE NOMINATED BY THE GOVERNANCE & COMPENSATION COMMITTEE OF THE BOARD AND ELECTED BY THE BOARD OF DIRECTORS. THE GOVERNANCE & COMPENSATION COMMITTEE CONSISTS OF SUCH INDEPENDENT MEMBERS APPOINTED TO IT BY THE ECMC GROUP, INC. BOARD OF DIRECTORS. |
| FORM 990, PART VI, SECTION B, LINE 11B | ALL MEMBERS OF THE BOARD OF DIRECTORS AND EXECUTIVE MANAGEMENT OF ECMC GROUP, INC. AND ITS DISREGARDED ENTITIES ARE PROVIDED A COPY OF FORM 990 TO REVIEW AND PROVIDE COMMENTS PRIOR TO FILING. ALL MEMBERS OF THE BOARD OF DIRECTORS AND EXECUTIVE MANAGEMENT ARE PROVIDED WITH A COPY OF THE FINAL VERSION OF FORM 990 BEFORE IT HAS BEEN FILED. |
| FORM 990, PART VI, SECTION B, LINE 12C | OFFICERS, DIRECTORS AND ALL EMPLOYEES OF ECMC GROUP, INC. AND ECMC SHARED SERVICES COMPANY, LLC, A DISREGARDED ENTITY OF ECMC GROUP, INC., ARE REQUIRED TO REAFFIRM ON AN ANNUAL BASIS THEIR UNDERSTANDING OF THE COMPANY'S CONFLICT OF INTEREST POLICY. THE AFFIRMATION SPECIFICALLY REFERENCES THAT THE INDIVIDUAL WILL COMPLY WITH THE DIRECTIVES OF THE CONFLICT OF INTEREST POLICY. OFFICERS, DIRECTORS AND KEY EMPLOYEES ARE ALSO REQUIRED TO COMPLETE AN ANNUAL FORM 990 RELATIONSHIP DISCLOSURE DOCUMENT TO IDENTIFY ANY POTENTIAL CONFLICTS OF INTEREST. FINALLY, THE COMPANY'S VENDOR PROCUREMENT PROCESS INCLUDES QUESTIONS OF BUSINESS UNIT CONTRACT OWNERS TO DETERMINE IF ANY CONFLICTS OF INTEREST MAY EXIST. MONITORING AND ENFORCEMENT OF THE POLICY ARE ACCOMPLISHED THROUGH THE POLICY REAFFIRMATION PROCESS, AFFIRMATIVE DISCLOSURE REQUESTS AND THE POLICY REQUIREMENT THAT ALL CONFLICTS OF INTEREST BE REPORTED. IN CASES WHERE A POTENTIAL CONFLICT EXISTS AT THE OFFICER AND KEY EMPLOYEE LEVELS, THE ISSUE IS DISCLOSED TO THE INDIVIDUAL'S SUPERVISOR, GENERAL COUNSEL, AND/OR VICE PRESIDENT, DEPUTY GENERAL COUNSEL. FOR POTENTIAL CONFLICTS INVOLVING DIRECTORS, THE DISCLOSURE IS MADE TO THE BOARD (OR APPLICABLE COMMITTEE). THE DIRECTOR WILL BE REQUIRED TO EXCUSE THEMSELVES FROM DELIBERATION AND VOTING ON MATTERS FOR WHICH THEY MAY HAVE A CONFLICT OF INTEREST. |
| FORM 990, PART VI, SECTION B, LINE 15 | THE GOVERNANCE & COMPENSATION COMMITTEE OF THE ECMC GROUP, INC. BOARD OF DIRECTORS IS WHOLLY COMPRISED OF INDEPENDENT, OUTSIDE DIRECTORS. IN 2023, THE COMMITTEE RETAINED EXECUTIVE COMPENSATION EXPERTS FROM GRANT THORNTON, PEARL MEYER AND AON, GLOBAL COMPENSATION CONSULTING ORGANIZATIONS, THROUGH ARNOLD & PORTER KAYE SCHOLER LLP TO IDENTIFY APPROPRIATE CEO AND SENIOR EXECUTIVE COMPENSATION PACKAGES. ARNOLD & PORTER KAYE SCHOLER LLP PROVIDED AN OPINION ON THE REASONABLENESS OF THIS COMPENSATION. THE MARKET ANALYSIS PERFORMED BY GRANT THORNTON, PEARL MEYER AND AON FOR ARNOLD & PORTER KAYE SCHOLER LLP INCLUDES SALARY AND INCENTIVE DATA FROM AN APPROPRIATE PEER GROUP UNDER IRS REGULATIONS AND INCLUDES BOTH NONPROFIT AND FOR-PROFIT ENTITIES. |
| FORM 990, PART VI, SECTION C, LINE 19 | DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC AS REQUIRED BY LAW. |
| FORM 990, PART VII, SECTION A: | JOHN DEPODESTA AND I. KING JORDAN, FORMER DIRECTORS, HAD CONSULTING AGREEMENTS IN 2023. |
| FORM 990, PART XI, LINE 9: | SCHOLARSHIPS AWARDED IN A PRIOR YEAR AND REFUNDED IN 2023. 8,423. TRANSFERS BETWEEN ECMC GROUP, INC. AND ECMC HOLDINGS CORPORATION -4,478,187,487. |
Schedule R IRS990ScheduleR
Id Disregarded Entities IdDisregardedEntitiesGrp (4 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Total IncomeTotalIncomeAmt | End Of Year AssetsEndOfYearAssetsAmt | Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt |
|---|---|---|---|---|---|---|---|---|---|
| OAKDALE STUDENT LOAN FUNDING LLC | |||||||||
| 111 WASHINGTON AVE SO STE 1400 | MINNEAPOLIS | MN | 55401 | 271914648 | HOLDING FFELP LOANS | DE | $103,644,498 | $8,610,132 | ECMC GROUP INC |
| ECMC SHARED SERVICES COMPANY LLC | |||||||||
| 111 WASHINGTON AVE SO STE 1400 | MINNEAPOLIS | MN | 55401 | 810690960 | SUPPORT SERVICES FUNCTIONS | DE | $0 | $23,830,905 | ECMC GROUP INC |
| PATRIOT STUDENT LOAN CAPITAL LLC | |||||||||
| 111 WASHINGTON AVE SO STE 1400 | MINNEAPOLIS | MN | 55401 | 813501777 | TRUST STUDENT LOANS | DE | $0 | $1,008,548 | ECMC GROUP INC |
| SUPERIOR SOLUTIONS I GP LLC | |||||||||
| 111 WASHINGTON AVE SO STE 1400 | MINNEAPOLIS | MN | 55401 | 882460810 | INVESTMENTS | DE | $0 | $0 | ECMC GROUP INC |
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp (5 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Exempt Code SectionExemptCodeSectionTxt | Public Charity StatusPublicCharityStatusTxt | Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt | Controlled OrganizationControlledOrganizationInd |
|---|---|---|---|---|---|---|---|---|---|---|
| EDUCATIONAL CREDIT MANAGEMENT CORPORATION | ||||||||||
| 111 WASHINGTON AVE SO STE 1400 | MINNEAPOLIS | MN | 55401 | 411778617 | GUARANTOR | MN | 501(C)(3) | LINE 10 | ECMC GROUP INC | Yes (1) |
| ECMC FOUNDATION | ||||||||||
| 111 WASHINGTON AVE SO STE 1400 | MINNEAPOLIS | MN | 55401 | 411990628 | PROMOTE EDUCATION | DE | 501(C)(3) | LINE 12B TYPE II | ECMC GROUP INC | Yes (1) |
| ECMC EDUCATION INC | ||||||||||
| 111 WASHINGTON AVE SO STE 1400 | MINNEAPOLIS | MN | 55401 | 472237488 | CAREER COLLEGES | DE | 501(C)(3) | LINE 2 | ECMC GROUP INC | Yes (1) |
| ECMC REVENUE MANAGEMENT CORPORATION | ||||||||||
| 111 WASHINGTON AVE SO STE 1400 | MINNEAPOLIS | MN | 55401 | 831761663 | STUDENT LOAN DEFAULT RESOLUTION | DE | 501(C)(3) | LINE 10 | EDUCATIONAL CREDIT MANAGEMENT CORPORATION | Yes (1) |
| ECMC SERVICES INC | ||||||||||
| 111 WASHINGTON AVE SO STE 1400 | MINNEAPOLIS | MN | 55401 | 831763915 | STUDENT LOAN REPAYMENT SERVICES | DE | 501(C)(3) | LINE 10 | ECMC GROUP INC | Yes (1) |
Id Related Org Txbl Partnership IdRelatedOrgTxblPartnershipGrp (21 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt | Predominant Income TypePredominantIncomeTypeTxt | Share Of Total IncomeShareOfTotalIncomeAmt | Share Of EOY AssetsShareOfEOYAssetsAmt | Disproportionate AllocationsDisproportionateAllocationsInd | General Or Managing PartnerGeneralOrManagingPartnerInd | OwnershipOwnershipPct | UBI Code VUBICodeVAmt | Legal Domicile Foreign CountryLegalDomicileForeignCountryCd |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| AUBREY GEMS PARTNERS LP | |||||||||||||||
| 800 THIRD AVE 28TH FL | NEW YORK | NY | 10022 | 365009933 | INVESTMENTS | NY | ECMC GROUP INC | EXCLUDED | -$2,352,888 | $11,340,247 | 0 | 0 | 0.54000 | ||
| CHLOE CAPITAL FUND I LP | |||||||||||||||
| 700 CASCADILLA ST STE 201 | ITHACA | NY | 14850 | 844269068 | INVESTMENTS | DE | ECMC GROUP INC | EXCLUDED | -$129,596 | $3,567,195 | 0 | 0 | 0.51000 | ||
| COMMONFUND CAP SECONDARIES OPP FUND | |||||||||||||||
| 15 OLD DANBURY RD | WILTON | CT | 06897 | 842082338 | INVESTMENTS | DE | ECMC GROUP INC | EXCLUDED | $69,464 | $25,131,964 | 0 | 0 | 1.00000 | $115,530 | |
| CRP VF IV GP LP | |||||||||||||||
| 7600 N CAP OF TX HWY BLDG B STE 130 | AUSTIN | TX | 78731 | 863644095 | INVESTMENTS | DE | ECMC GROUP INC | EXCLUDED | -$476,551 | $16,428,583 | 0 | 0 | 0.94000 | ||
| ECMC-UV CO-INVESTMENT FUND LP | |||||||||||||||
| 104 W 40TH ST STE 1600 | NEW YORK | NY | 10018 | 813873029 | INVESTMENTS | DE | ECMC GROUP INC | EXCLUDED | $3,431,153 | 0 | 0 | 0.99000 | |||
| FUND D-2 A SERIES OF RIOT VENTURES | |||||||||||||||
| 313 GRAND BLVD 1079 | VENICE | CA | 90291 | 920652495 | INVESTMENTS | DE | ECMC GROUP INC | EXCLUDED | $884,827 | 0 | 0 | 1.00000 | |||
| GEM MINING 4 LLC | |||||||||||||||
| 550 S MAIN ST STE 310 | GREENVILLE | SC | 29601 | 871562792 | INVESTMENTS | DE | ECMC GROUP INC | EXCLUDED | $1,609,201 | $2,418,386 | 0 | 0 | 0.99700 | $1,550,261 | |
| ONRAMP EDUC & WORKFORCE INNOV FUND | |||||||||||||||
| 821 E WASHINGTON AVE STE 200-G | MADISON | WI | 53703 | 843999115 | INVESTMENTS | DE | ECMC GROUP INC | EXCLUDED | -$49,519 | $1,091,918 | 0 | 0 | 0.75000 | ||
| PC-1 DEVELOPERS LLC | |||||||||||||||
| 3600 MAYBERRY DR | RENO | NV | 89509 | 831603672 | INVESTMENTS | NV | ECMC GROUP INC | EXCLUDED | $173,413 | $5,242,500 | 0 | 0 | 0.67000 | $173,083 | |
| R7 FAMILY FUND LP | |||||||||||||||
| 100 S WACKER DR STE 1675 | CHICAGO | IL | 60606 | 851019413 | INVESTMENTS | DE | ECMC GROUP INC | EXCLUDED | $14,897,488 | 0 | 0 | 1.00000 | |||
| RI FUND I A SERIES OF BOOST VC SPV LP | |||||||||||||||
| PO BOX 3217 | SEATTLE | WA | 98114 | 874641779 | INVESTMENTS | ECMC GROUP INC | EXCLUDED | $2,573,759 | 0 | 0 | 0.99000 | CJ | |||
| TABOR OFFSHORE OPPORTUNITIES LTD | |||||||||||||||
| 11 E 44TH ST STE 705 | NEW YORK | NY | 10017 | INVESTMENTS | ECMC GROUP INC | EXCLUDED | $2,216,686 | $45,469,108 | 0 | 0 | 0.95000 | CJ | |||
| UP FUND I A SERIES OF BOOST VC SPV LP | |||||||||||||||
| PO BOX 3217 | SEATTLE | WA | 98114 | 851519551 | INVESTMENTS | DE | ECMC GROUP INC | EXCLUDED | $1,023,000 | 0 | 0 | 0.99900 | |||
| WY FUND I A SERIES OF BOOST VC SPV LP | |||||||||||||||
| PO BOX 3217 | SEATTLE | WA | 98114 | 851519506 | INVESTMENTS | DE | ECMC GROUP INC | EXCLUDED | $80,002 | $1,305,810 | 0 | 0 | 0.99900 | ||
| BACKFLIP INCOME FUND 2 LLC | |||||||||||||||
| 1312 17TH ST STE 71618 | DENVER | CO | 80202 | 932740244 | INVESTMENTS | DE | ECMC GROUP INC | EXCLUDED | $19,164 | $4,092,179 | 0 | 0 | 0.64000 | ||
| COLT ENERGY OPPORTUNITIES II LLC | |||||||||||||||
| 2101 CEDAR SPRINGS RD STE 1230 | DALLAS | TX | 75201 | 933370182 | INVESTMENTS | TX | ECMC GROUP INC | EXCLUDED | $4,006,154 | 0 | 0 | 0.82000 | |||
| SOLGEN CAPITAL PARTNERS I LP | |||||||||||||||
| 2000 PGA BLVD STE 4440 | PALM BEACH GARDENS | FL | 33408 | 921378980 | INVESTMENTS | DE | ECMC GROUP INC | EXCLUDED | $445,858 | $10,285,490 | 0 | 0 | 0.63000 | ||
| 503 WWS INVESTORS LLC | |||||||||||||||
| 2540 NE MARTIN LUTHER KING JR BLVD | PORTLAND | OR | 97212 | 921393452 | INVESTMENTS | DE | ECMC GROUP INC | EXCLUDED | -$2,877,295 | $99,682 | 0 | 0 | 0.50000 | ||
| GENGLOBAL CORE LLC | |||||||||||||||
| 2810 N CHURCH ST PMB 85501 | WILMINGTON | DE | 19802 | 934209535 | INVESTMENTS | DE | ECMC GROUP INC | EXCLUDED | $4,042,467 | 0 | 0 | 0.80000 | |||
| GALAHAD INVESTORS EAU CLAIRE LLC | |||||||||||||||
| 4688 KEYSTONE CROSSING | EAU CLAIRE | WI | 54701 | 991926788 | INVESTMENTS | MN | ECMC GROUP INC | EXCLUDED | $1,345,378 | 0 | 0 | 0.87000 | |||
| GALAHAD INVESTORS MAPLEWOOD LLC | |||||||||||||||
| 1910 COUNTY RD C E | MAPLEWOOD | MN | 55109 | 991935774 | INVESTMENTS | MN | ECMC GROUP INC | EXCLUDED | $1,500,000 | 0 | 0 | 0.67000 | |||
Id Related Org Txbl Corp Tr IdRelatedOrgTxblCorpTrGrp (3 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt | Entity TypeEntityTypeTxt | Share Of Total IncomeShareOfTotalIncomeAmt | Share Of EOY AssetsShareOfEOYAssetsAmt | OwnershipOwnershipPct | Controlled OrganizationControlledOrganizationInd | Direct Controlling NADirectControllingNACd |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| OAKDALE INVESTMENT MANAGEMENT CORPORATION | |||||||||||||
| 111 WASHINGTON AVE SO STE 1400 | MINNEAPOLIS | MN | 55401 | 352085743 | HOLDING INVESTMENTS | DE | ECMC GROUP INC | C | $28,431 | $2,572,602 | 1.00000 | Yes (1) | |
| ECMC HOLDINGS CORPORATION | |||||||||||||
| 111 WASHINGTON AVE SO STE 1400 | MINNEAPOLIS | MN | 55401 | 411991992 | STRATEGIC OVERSIGHT | DE | ECMC GROUP INC | C | $160,289,040 | $4,059,688,148 | 1.00000 | Yes (1) | |
| ECMC RECORDS & RECEIVABLES MANAGEMENT CORPORATION | |||||||||||||
| 111 WASHINGTON AVE SO STE 1400 | MINNEAPOLIS | MN | 55401 | 411989959 | DOCUMENT MANAGEMENT | DE | C | Yes (1) | N/A | ||||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | 0 | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | Yes (1) | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | Yes (1) | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | Yes (1) | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | 0 | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | Yes (1) | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | 0 | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | 0 | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | Yes (1) | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | 0 | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | Yes (1) | SharingOfFacilitiesInd |
| Paid Employees Sharing | Yes (1) | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | Yes (1) | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | Yes (1) | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | Yes (1) | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |
Transactions Related Org TransactionsRelatedOrgGrp (18 entries)
| Transaction TypeTransactionTypeTxt | InvolvedInvolvedAmt | Method Of Amount DeterminationMethodOfAmountDeterminationTxt |
|---|---|---|
| EDUCATIONAL CREDIT MANAGEMENT CORPORATION | ||
| B | $15,188,000 | ALLOCATION |
| ECMC FOUNDATION | ||
| B | $58,528,000 | ALLOCATION |
| ECMC EDUCATION INC | ||
| B | $18,959,896 | ALLOCATION |
| EDUCATIONAL CREDIT MANAGEMENT CORPORATION | ||
| C | $265,138,829 | ALLOCATION |
| ECMC FOUNDATION | ||
| C | $1,682,000 | ALLOCATION |
| ECMC EDUCATION INC | ||
| D | $23,751,000 | NON-CANCELABLE OPERATING LEASES |
| ECMC EDUCATION INC | ||
| D | $14,500,000 | FINANCIAL NEED |
| ECMC HOLDINGS CORPORATION | ||
| F | $4,488,078,024 | ALLOCATION |
| EDUCATIONAL CREDIT MANAGEMENT CORPORATION | ||
| L | $273,825 | ALLOCATION |
| ECMC FOUNDATION | ||
| N | $574,634 | ALLOCATION |
| EDUCATIONAL CREDIT MANAGEMENT CORPORATION | ||
| N | $6,767,007 | ALLOCATION |
| ECMC FOUNDATION | ||
| O | $11,632,501 | ALLOCATION |
| EDUCATIONAL CREDIT MANAGEMENT CORPORATION | ||
| O | $49,731,669 | ALLOCATION |
| EDUCATIONAL CREDIT MANAGEMENT CORPORATION | ||
| P | $341,803 | ALLOCATION |
| ECMC EDUCATION INC | ||
| P | $961,054 | ALLOCATION |
| ECMC FOUNDATION | ||
| Q | $212,591 | ALLOCATION |
| ECMC HOLDINGS CORPORATION | ||
| Q | $1,208,114 | ALLOCATION |
| ECMC HOLDINGS CORPORATION | ||
| R | $4,478,187,487 | ALLOCATION |