2022-08-31T14:47:09-05:00 2021-12-31 ERNST & YOUNG US LLP 1101 NEW YORK AVE NW WASHINGTON DC 20005 990 2021-01-01 391090394 Ascendium Education Group Inc % HOPE MERRY ASCE 6087332500 38 BUTTONWOOD COURT Madison WI 53718 Richard George President & CEO 6087332500 2022-08-30 true Richard George XXX-XX-XXXX P01391011 2023276000 2 2021 2022-09-23 18:48:47Z X Richard George 38 BUTTONWOOD COURT Madison WI 53718 53799737 false X www.ASCENDIUMEDUCATION.ORG X 1967 WI ASCENDIUM EDUCATION GROUP, INC. OPERATES FOR THE SUPPORT AND BENEFIT OF ASCENDIUM EDUCATION SOLUTIONS AND NORTHSTAR GUARANTEE, INC. 9 8 82 0 -114461 0 0 0 0 0 30305069 26397852 8 1245 30305077 26399097 42250 18737 0 0 8350708 11025687 0 0 0 -5924176 -5450154 2468782 5594270 27836295 20804827 2297580826 2781800074 3279906 3740839 2294300920 2778059235 ASCENDIUM EDUCATION GROUP, INC. OPERATE FOR THE SUPPORT AND BENEFIT OF ASCENDIUM EDUCATION SOLUTIONS, INC. 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SOLUTIONS AND NORTHSTAR SUPPORTS INCREASED ACCESS TO AND SUCCESS IN POSTSECONDAY EDUCATION AS A NATIONAL GRANTMAKER, AS FEDERAL STUDENT LOAN GUARANTY AGENCY AND A PROVIDER OF STUDENT SUCCESS SERVICES. 25250 true false false false false false false false false false true true false false true false false true false false false false false false false false false false true true false false false false false false false false false false false false false true true true false false true X 51 0 true 82 true false false false false false false false false false false false false X 9 8 true false false false false false false true true false false true true true true true true true true false X HOPE MERRY 6087332584 38 BUTTONWOOD COURT MADISON WI 53718 X Richard D George 23 Chair/Pres/CIO/Treas 28.0 22.0 X X 848776 0 51154 Jeff Crosby 3 PRES/CEO-AES 7.0 43.0 X 0 521604 42859 Hope Merry 3 Chief Financial Officer 10.0 40.0 X 399568 0 46048 Jacqueline Fairbairn 3 VP - POLICY & REG COMPLIANCE 1.0 49.0 X 0 298454 52094 Rebecca Rapp 3 Gen Cnsl, CHF PRVCY & ASST SEC 24.0 23.0 X 286780 0 40924 Brett Lindquist 3 VP - Strategic Communications 10.0 35.0 X 272710 0 50231 Amy KOBISHOP 3 VP - Education Philanthropy 3.0 47.0 X 0 284526 36495 Maureen Harrill 3 VP - Human Resources 10.0 35.0 X 219332 0 39420 Matt Harlowe 3 Director Internal Audit 25.0 25.0 X 233622 0 24903 Eric Maly 3 Director - Info Technology 45.0 0.0 X 173813 0 42914 Jennifer Krueger 3 DEPUTY GENERAL COUNSEL 45.0 0.0 X 161931 0 31942 Brian Kobishop 3 VP - IT/Sec/Logi (Until 11/15) 10.0 35.0 X 168766 0 9323 Catherine Risseeuw 3 Mgr - HR Technology & Comp 45.0 0.0 X 136411 0 40566 KIRA CORTESE 3 Creative Director 45.0 0.0 X 144824 0 30472 Fernando Delk 3 Sr IT & Busn Integ Anst 45.0 0.0 X 137712 0 29930 Thoma Boldt 1 Director 3.0 0.0 X 22800 0 0 Roger Ervin 1 Director 2.0 1.0 X 11400 11400 0 Richard A Weiss 1 Director 1.0 2.0 X 7600 15200 0 Emerson Brumback 1 Director 2.0 1.0 X 9300 9300 0 Mary Burke 1 Director 1.0 2.0 X 6200 12400 0 David J Hanson 1 Director/Secretary 1.0 2.0 X 6200 12400 0 Joan Prince 1 Director 2.0 1.0 X 9300 9300 0 Linda Hoeschler 1 Director 2.0 1.0 X 8250 8250 0 3265295 1182834 569275 12 false true false Foley Lardner 777 E Wisconsin Avenue MILWAUKEE WI 532025306 Legal Service 1003533 Deloitte Financial Advisory Service 4022 Sells Drive HERMITAGE TN 37076 Legal Service 569466 Ernst Young US LLP 200 Plaza Dr SECAUCUS NJ 07094 Audit/Tax Service 277863 Brownstein Hyatt Farber Schreck 410 17th St Ste 2200 DENVER CO 80202 Legal Service 246674 MORGAN STANLEY 2000 Westchester Ave PURCAHSE NY 10577 Investment Service 79866 5 0 0 24721825 -114461 24836286 0 0 0 0 0 29076667 27400640 1676027 1676027 1676027 0 0 0 0 0 0 0 0 0 MISCELLANEOUS REVENUE 900099 1245 1245 1245 26399097 -114461 26513558 0 18737 18737 0 0 3644445 1259505 2384940 0 5766737 2594130 3172607 414195 182135 232060 850679 375184 475495 349631 153744 195887 0 201800 201800 269510 269510 0 0 3406599 3406599 2131889 1197032 934857 31193 31193 3653313 1699319 1953994 0 0 639659 244315 395344 13090 5339 7751 0 46950 14934 32016 0 0 143420 37002 106418 1348904 1348904 SERVICE ARRANGEMENT FEES 5691783 5691783 DUES AND MEMBERSHIPS 35395 35395 CORP SUPP FUNCT ALLOCATION -28584742 -20308346 -8276396 MISCELLANEOUS 5521083 5444945 76138 5594270 25250 5569020 0 X 1176 894 851689036 1269231590 0 0 0 0 0 0 0 0 0 0 0 0 127 169485 42164692 106418 10916347 42058274 80782441 3446492 1256455541 1445379810 90322411 15548500 0 0 7413747 5965029 2297580826 2781800074 937974 3537885 0 0 0 0 0 0 0 0 0 0 0 0 0 0 2341932 202954 3279906 3740839 X 2294300920 2778059235 0 0 2294300920 2778059235 2297580826 2781800074 X 20804827 162953488 300000000 X false true X true false X X 2 ASCENDIUM EDUCATION SOLUTIONS INC 391853833 10 true 24810933 0 NORTHSTAR GUARANTEE INC 411689095 10 true 7958 0 2 24818891 true false false false false false false false false false false false false false false true 4413829 4413829 36641060 -78336 36564725 1109803 -30083 1079720 42058274 GSV FUND INVESTMENT 40954344 F RETHINK EDUCATION INVESTMENT 16241147 F BLACKROCK - INDEX FUND 234354937 F VANGUARD - INDEX FUND 232478536 F TREASURY NOTES 399820000 F LEARN CAPITAL VENTURE PARTNERS 47726644 F LEARN CAPITAL - COURSERA 0 F DEGREED, INC. 999998 F UDEMY INC. 1000000 F EDUNAV, INC. 500000 F PABTWF 6510350 F MORGAN STANLEY 461705078 F NEW U VENTURE PTNRS FUND,LP 3088776 F CERTIFICATE OF DEPOSIT 70000000 F 1515379810 0 INTERCOMPANY PAYABLE 202389 PROPERTY TAXES 565 202954 true Funeral & Cremation Services 1 18737 FORM 990, SCHEDULE I, PART I, LINE 2 An application for an emergency grant will be completed by the employee. Ascendium will consider the facts and needs in emergency situations and may provide an emergency grant to support the employee's safety and their continued availability for work. The grant is in the form of a payment to a specified vendor on behalf of the employee. FORM 990, SCHEDULE I, PART III, LINE 1 Ascendium Education Group, Inc. offers employee emergency grant assistance to help its employees who encounter an unexpected financial crisis. X X X X X false false false false false false false false false Richard D George 23 Chair/Pres/CIO/Treas 395096 450015 3665 17600 33554 899930 Hope Merry 3 Chief Financial Officer 229104 170000 464 17317 28731 445616 Jeff Crosby 3 PRES/CEO-AES 295288 225000 1316 17648 25211 564463 Rebecca Rapp 3 Gen Cnsl, CHF PRVCY & ASST SEC 144972 140015 1793 17314 23610 327704 Maureen Harrill 3 VP - Human Resources 130888 85000 3444 15109 24311 258752 Brian Kobishop 3 VP - IT/Sec/Logi (Until 11/15) 53455 115000 311 8362 961 178089 Amy KOBISHOP 3 VP - Education Philanthropy 143822 140000 704 12575 23920 321021 Brett Lindquist 3 VP - Strategic Communications 137010 135000 700 15969 34262 322941 Jacqueline Fairbairn 3 VP - POLICY & REG COMPLIANCE 147125 150000 1329 17921 34173 350548 Matt Harlowe 3 Director Internal Audit 143356 90000 266 15721 9182 258525 Jennifer Krueger 3 DEPUTY GENERAL COUNSEL 138387 23103 441 13425 18517 193873 Catherine Risseeuw 3 Mgr - HR Technology & Comp 116760 19080 571 11691 28875 176977 Fernando Delk 3 Sr IT & Busn Integ Anst 129813 7293 606 12033 17897 167642 Eric Maly 3 Director - Info Technology 151266 21829 718 14169 28745 216727 KIRA CORTESE 3 Creative Director 124941 19292 591 9937 20535 175296 Part VI, Question 11b On an annual basis, the Chairman of the Board, President and CEO, the audit committee and board reviews the Form 990 prior to filing. The conflicts of interest questionnaires are completed by each Director and reviewed prior to filing the Form 990. Part VI, Question 12c Annually, Directors and Officers sign a conflict of interest document which discloses any conflicts. The signed documents are reviewed annually by the Chairman of the Board. If a disclosed conflict occurs, the individual abstains from discussion and voting on topics where a conflict of interest exists. All Directors, Officers and employees are subject to the Human Resources Code of Ethics to maintain the highest ethical and legal standards of business conduct. Part VI, Questions 15a & 15b The compensation of the CEO and all of the Officers is determined annually by the Personnel Policy Committee of the Board of Directors. The CEO is routinely excused and abstains from discussion and/or voting on any matters related to his own compensation and benefits. The Personnel Policy Committee's report is submitted to the Board of Directors for approval. The decisions are documented in the Board minutes. Every two to three years, an independent compensation study is performed, last compensation study was performed in 2019. Part VI, Question 19 Federal tax law does not require that such documents be made publicly available. Documents are available upon specific request. Part VII, Section A, Question 1a (1) Directors normally attend 3-4 board meetings and 3-4 committee meetings per year in addition to telephonic conferences and individual meetings with officers. Directors devote an average of 1-3 hours per week to their position(s). (2) Compensation line includes compensation for general counsel services and affiliate group responsibilities. Inside directors are not eligible for Board compensation.(3) Non-operating officer position not separately compensated. Part IX, Line 24c Costs are charged to the applicable managing area and then further allocated to supporting services and programs that each area supports. Costs are allocated to supporting services and programs based on estimates made by management, taking into account the nature of the expense and how it relates to the functional areas. Costs are typically allocated based on resources used or time and effort. 2021 allocations made to the following supporting organizations and amounts are as follows: Ascendium Education Solutions, Inc. 24,810,933 NorthStar Education Guarantee, Inc. 7,958 Part XI, Line 9 OPERATING FUND CONTRIBUTION transfer to AEG from $300,000,000 Ascendium Education Solutions, Inc. --------------- $300,000,000 Part VI, Section A, Question 2 AMY KOBISHOP AND BRIAN KOBISHOP ARE MARRIED. FORM 990 PART IX LINE 11G DESCRIPTION:CONSULTING TOTAL FEES:762263 FORM 990 PART IX LINE 11G DESCRIPTION:OTHER PROFESSIONAL SERVICES TOTAL FEES:432044 FORM 990 PART IX LINE 11G DESCRIPTION:DELTA DENTAL TOTAL FEES:12180 FORM 990 PART IX LINE 11G DESCRIPTION:TRANSFER PRICING SERVICES TOTAL FEES:15750 FORM 990 PART IX LINE 11G DESCRIPTION:RECRUITING TOTAL FEES:3822 FORM 990 PART IX LINE 11G DESCRIPTION:IT CONSULTANTS TOTAL FEES:62587 FORM 990 PART IX LINE 11G DESCRIPTION:IT SPECIALIZED SERVICES TOTAL FEES:773857 FORM 990 PART IX LINE 11G DESCRIPTION:RETIREMENT ADMINISTRATION TOTAL FEES:69386 Ascendium Education Solutions Inc 38 Buttonwood Ct Madison WI 53718 391853833 Gty Stdnt Lns WI 501(C)(3) 10 GROUP true Northstar Guarantee Inc 38 Buttonwood Ct Madison WI 53718 411689095 Stdt Rehab Ln MN 501(C)(3) 10 GROUP true Northstar Education Services LLC 38 Buttonwood Ct Madison WI 53718 352626495 Service WI GROUP C Corp -2702048 4321311 1.00000 true false false false false false false false false false false false true true false false true true false false Ascendium Education Solutions Inc L,M,P 24810933 ACTUAL COST NORTHSTAR EDUCATION SERVICES LLC L & Q 7958 ACTUAL COST