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ECMC FOUNDATION: Form 990, tax year 2021

View the entire original 990 at ProPublica ↗

Organization
ECMC FOUNDATION (EIN 41-1990628)
Tax period
2021-01-01 to 2021-12-31
Filed
2022-11-10
IRS object ID
202233149349307673
Schema version
2021v4.2
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 ReturnHeader

FieldValueIRS element (for citing)
Return2022-11-10T20:01:04-06:00ReturnTs
Tax Period End2021-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN135565207PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1KPMG LLPBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line14200 Wells Fargo Center 90 South SeAddressLine1Txt
Address Line2venth StAddressLine2Txt
CityMinneapolisCityNm
State AbbreviationMNStateAbbreviationCd
ZIP55402ZIPCd
FieldValueIRS element (for citing)
Return Type990ReturnTypeCd
Tax Period Begin2021-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN411990628EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1ECMC FoundationBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlECMCBusinessNameControlTxt
Phone6512210566PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1111 Washington Ave So 1400AddressLine1Txt
CityMinneapolisCityNm
State AbbreviationMNStateAbbreviationCd
ZIP55401ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonMartin A ScanlonPersonNm
Person TitleCFO & TreasurerPersonTitleTxt
Signature2022-11-10SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person FirstMartinPersonFirstNm
Person LastScanlonPersonLastNm
FieldValueIRS element (for citing)
SSN999009999SSN

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonJason DivinePreparerPersonNm
PTINP01076050PTIN
Phone6123055000PhoneNum
FieldValueIRS element (for citing)
Tax2021TaxYr
Build TS2022-09-23 18:48:47ZBuildTS

Form 990 IRS990

Principal Ofcr Business Name PrincipalOfcrBusinessName

FieldValueIRS element (for citing)
Business Name Line1Peter J TaylorBusinessNameLine1Txt

US Address USAddress

FieldValueIRS element (for citing)
Address Line1111 Washington Ave So 1400AddressLine1Txt
CityMinneapolisCityNm
State AbbreviationMNStateAbbreviationCd
ZIP55401ZIPCd
FieldValueIRS element (for citing)
Gross Receipts$46,859,234GrossReceiptsAmt
Group Return For AffiliatesfalseGroupReturnForAffiliatesInd
Organization501c3Yes (X)Organization501c3Ind
Website Addresswww.ecmcfoundation.orgWebsiteAddressTxt
Type Of Organization CorpYes (X)TypeOfOrganizationCorpInd
Formation2000FormationYr
Legal Domicile StateDELegalDomicileStateCd
Activity Or MissionECMC Foundation is a grantmaking foundation focused on improving higher education and career success among underserved populations through evidence-based innovation.ActivityOrMissionDesc
Voting Members Governing Body11VotingMembersGoverningBodyCnt
Voting Members Independent9VotingMembersIndependentCnt
Total Employee17TotalEmployeeCnt
Total Volunteers0TotalVolunteersCnt
Total Gross UBI$0TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm$0NetUnrelatedBusTxblIncmAmt
PY Contributions Grants$47,069,000PYContributionsGrantsAmt
CY Contributions Grants$46,843,000CYContributionsGrantsAmt
CY Program Service Revenue$0CYProgramServiceRevenueAmt
PY Investment Income-$116,878PYInvestmentIncomeAmt
CY Investment Income$13,884CYInvestmentIncomeAmt
PY Other Revenue$51,429PYOtherRevenueAmt
CY Other Revenue$2,350CYOtherRevenueAmt
PY Total Revenue$47,003,551PYTotalRevenueAmt
CY Total Revenue$46,859,234CYTotalRevenueAmt
PY Grants And Similar Paid$51,544,257PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid$41,805,573CYGrantsAndSimilarPaidAmt
CY Benefits Paid To Members$0CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid$3,699,007PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid$4,084,482CYSalariesCompEmpBnftPaidAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$0CYTotalFundraisingExpenseAmt
PY Other Expenses$1,702,210PYOtherExpensesAmt
CY Other Expenses$2,253,037CYOtherExpensesAmt
PY Total Expenses$56,945,474PYTotalExpensesAmt
CY Total Expenses$48,143,092CYTotalExpensesAmt
PY Revenues Less Expenses-$9,941,923PYRevenuesLessExpensesAmt
CY Revenues Less Expenses-$1,283,858CYRevenuesLessExpensesAmt
Total Assets BOY$828,576,280TotalAssetsBOYAmt
Total Assets EOY$1,089,464,777TotalAssetsEOYAmt
Total Liabilities BOY$26,248,343TotalLiabilitiesBOYAmt
Total Liabilities EOY$27,344,950TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$802,327,937NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$1,062,119,827NetAssetsOrFundBalancesEOYAmt
Info In Schedule O Part IIIYes (X)InfoInScheduleOPartIIIInd
MissionECMC Foundation's mission is to improve higher education and career success among underserved populations through evidence-based innovation.MissionDesc
Significant New Program SrvcfalseSignificantNewProgramSrvcInd
Significant ChangefalseSignificantChangeInd
Expense$15,475,220ExpenseAmt
Grant$15,475,220GrantAmt
Revenue$0RevenueAmt
DescCollege Success. The Foundation supports three focus areas: College Success, Career Readiness and Education Innovation Ventures; and uses a spectrum of funding structures, including strategic grantmaking and program-related investments. Since inception, the Foundation has provided funding in 49 states. The College Success focus area seeks to increase persistence and graduation rates of students who face systemic challenges in earning a bachelor's degree. These students include, but are not limited to, first-generation college students, students from low-income backgrounds and students of color. The program funds postsecondary programs and initiatives that improve and scale systemic reforms and supports to increase student success at postsecondary institutions; increase currently enrolled students' persistence toward a degree; support on-time transfer from two-year to four-year institutions; enhance students' pathways to graduation with career-ready skills; and evaluate new research findings and publications that promote student success outcomes. College Success currently focuses its grantmaking toward programs, institutional networks, research and policy that address basic needs, improving credit mobility and transfer, enhancing student-centered support and reforming systemic approaches to enhance completion. Additionally, College Success has made significant investments in coalition efforts working to move the needle on key issues: Basic Needs Initiative and Catalyzing Transfer Initiative.Desc

Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp

FieldValueIRS element (for citing)
Expense$14,654,999ExpenseAmt
Grant$14,654,999GrantAmt
Revenue$0RevenueAmt
DescCareer Readiness. The Foundation supports three focus areas: College Success, Career Readiness and Education Innovation Ventures; and uses a spectrum of funding structures, including strategic grantmaking and program-related investments. Since inception, the Foundation has provided funding in 49 states. The Career Readiness focus area supports innovative approaches and promising practices to improve the success of students from underserved backgrounds seeking academic credentials in postsecondary career and technical education (CTE) programs. Grants made as part of the Career Readiness focus area fund projects, programs and initiatives that aim to enable institutions and organizations to implement innovative approaches to improving postsecondary CTE (e.g., initiatives for Single Mother Student Success, Improving Online CTE and CTE Leadership Collaborative) and generate learnings that will be beneficial to the field, to utilize intermediaries to build the capacity of institutions and organizations to sustain and scale promising practices and to support organizations to research, evaluate, and share efforts to improve practice and inform policy. The program is rooted in the belief that learners who complete credit-bearing programs and earn academic credentials will experience improved economic stability and increased social mobility.Desc

Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp

FieldValueIRS element (for citing)
Expense$1,131,264ExpenseAmt
Grant$1,104,004GrantAmt
Revenue$0RevenueAmt
DescEducation Innovation Ventures. The Foundation supports three focus areas: College Success, Career Readiness and Education Innovation Ventures; and uses a spectrum of funding structures, including strategic grantmaking and program-related investments. Since inception, the Foundation has provided funding in 49 states. ECMC Foundation's Education Innovation Ventures (EIV) program makes below-market-rate investments into nonprofit and for-profit ventures that seek to generate both social impact and financial returns. Complementing ECMC Foundation's strategic grantmaking, the EIV program uses a full spectrum of program-related investments, including debt and equity instruments, to provide catalytic, risk capital to early-stage ventures working to increase postsecondary educational outcomes and economic mobility among learners and jobseekers from systemically disadvantaged backgrounds. Financial returns are reinvested into additional program-related investments, allowing ECMC Foundation to recycle investment dollars to fund further impact initiatives and drive changes in economic mobility for learners and jobseekers. In 2021, EIV investments were focused toward promising, equity-minded solutions that could bolster three building blocks of a post-pandemic economic recovery: i.e., Career navigation and exploration tools, Training, upskilling and reskilling programs, and Innovative financing structures. At year end 2021, EIV has invested $6.85 million across 21 ventures.Desc

Prog Srvc Accom Acty Other ProgSrvcAccomActyOtherGrp (2 entries)

ExpenseExpenseAmtGrantGrantAmtRevenueRevenueAmtDescDesc
$13,168,920$9,571,350$670Other programs. Miscellaneous programs and activities for the furtherance of educational opportunities through grants, awards and research on the management of educational debt.
$1,000,000$1,000,000$0GO! Program. ECMC Foundation awards grants to the Generating Outcomes (GO!) Program, a corporate initiative to fund education innovation by funding ideas and partnerships that can be examined for effectiveness in the local communities of the ECMC Group, Inc. employees. To qualify for payment of a GO! Program grant, the awarded recipient must be a third-party nonprofit entity or a governmental partner, such as public schools, and expend the grant award for the purpose designated in the recipient's grant proposal. In 2021, ECMC Foundation awarded grants ranging from $5,000 to $20,000 each to 101 organizations for a total of $1 million.
FieldValueIRS element (for citing)
Total Other Prog Srvc Expense$14,168,920TotalOtherProgSrvcExpenseAmt
Total Other Prog Srvc Grant$10,571,350TotalOtherProgSrvcGrantAmt
Total Other Prog Srvc Revenue$670TotalOtherProgSrvcRevenueAmt
Total Program Service Expenses$45,430,403TotalProgramServiceExpensesAmt
Described In Section501c3Yes (true)DescribedInSection501c3Ind
Schedule B RequiredYes (true)ScheduleBRequiredInd
Political Campaign ActyfalsePoliticalCampaignActyInd
Lobbying ActivitiesfalseLobbyingActivitiesInd
Donor Advised FundfalseDonorAdvisedFundInd
Conservation EasementsfalseConservationEasementsInd
Collections Of ArtfalseCollectionsOfArtInd
Credit CounselingfalseCreditCounselingInd
Donor Rstr Or Quasi EndowmentsfalseDonorRstrOrQuasiEndowmentsInd
Report Land Building EquipmentYes (true)ReportLandBuildingEquipmentInd
Report Investments Other SecYes (true)ReportInvestmentsOtherSecInd
Report Program Related InvstfalseReportProgramRelatedInvstInd
Report Other AssetsfalseReportOtherAssetsInd
Report Other LiabilitiesYes (true)ReportOtherLiabilitiesInd
Include FIN48 FootnoteYes (true)IncludeFIN48FootnoteInd
Independent Audit Fincl StmtYes (true)IndependentAuditFinclStmtInd
Consolidated Audit Fincl StmtYes (true)ConsolidatedAuditFinclStmtInd
School OperatingfalseSchoolOperatingInd
Foreign OfficefalseForeignOfficeInd
Foreign ActivitiesfalseForeignActivitiesInd
More Than5000 K To OrgfalseMoreThan5000KToOrgInd
More Than5000 K To IndividualsfalseMoreThan5000KToIndividualsInd
Professional FundraisingfalseProfessionalFundraisingInd
Fundraising ActivitiesfalseFundraisingActivitiesInd
Gaming ActivitiesfalseGamingActivitiesInd
Operate HospitalfalseOperateHospitalInd
Grants To OrganizationsYes (true)GrantsToOrganizationsInd
Grants To IndividualsfalseGrantsToIndividualsInd
Schedule J RequiredYes (true)ScheduleJRequiredInd
Tax Exempt BondsfalseTaxExemptBondsInd
Engaged In Excess Benefit TransfalseEngagedInExcessBenefitTransInd
PY Excess Benefit TransfalsePYExcessBenefitTransInd
Loan OutstandingfalseLoanOutstandingInd
Grant To Related PersonfalseGrantToRelatedPersonInd
Business Rln With Org MemfalseBusinessRlnWithOrgMemInd
Business Rln With Fam MemfalseBusinessRlnWithFamMemInd
Business Rln With35 Ctrl EntfalseBusinessRlnWith35CtrlEntInd
Deductible Non Cash ContrifalseDeductibleNonCashContriInd
Deductible Art ContributionfalseDeductibleArtContributionInd
Terminate OperationsfalseTerminateOperationsInd
Partial LiquidationfalsePartialLiquidationInd
Disregarded EntityfalseDisregardedEntityInd
Related EntityYes (true)RelatedEntityInd
Related Organization Ctrl EntfalseRelatedOrganizationCtrlEntInd
Trnsfr Exmpt Non Chrtbl Rltd OrgfalseTrnsfrExmptNonChrtblRltdOrgInd
Activities Conducted PrtshpfalseActivitiesConductedPrtshpInd
Schedule O RequiredYes (true)ScheduleORequiredInd
IRP Document20IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Employee17EmployeeCnt
Employment Tax Returns FiledYes (true)EmploymentTaxReturnsFiledInd
Unrelated Bus Incm Over LimitfalseUnrelatedBusIncmOverLimitInd
Foreign Financial AccountfalseForeignFinancialAccountInd
Prohibited Tax Shelter TransfalseProhibitedTaxShelterTransInd
Taxable Party NotificationfalseTaxablePartyNotificationInd
Nondeductible ContributionsfalseNondeductibleContributionsInd
Quid Pro Quo ContributionsfalseQuidProQuoContributionsInd
Form8282 Property Disposed OffalseForm8282PropertyDisposedOfInd
Rcv Fnds To Pay Prsnl Bnft CntrctfalseRcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft CntrctfalsePayPremiumsPrsnlBnftCntrctInd
Indoor Tanning ServicesfalseIndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht PymtfalseSubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst IncfalseSubjectToExcsTaxNetInvstIncInd
Info In Schedule O Part VIYes (X)InfoInScheduleOPartVIInd
Governing Body Voting Members11GoverningBodyVotingMembersCnt
Independent Voting Member9IndependentVotingMemberCnt
Family Or Business RlnYes (true)FamilyOrBusinessRlnInd
Delegation Of Mgmt DutiesfalseDelegationOfMgmtDutiesInd
Change To Org DocumentsfalseChangeToOrgDocumentsInd
Material Diversion Or MisusefalseMaterialDiversionOrMisuseInd
Members Or StockholdersYes (true)MembersOrStockholdersInd
Election Of Board MembersYes (true)ElectionOfBoardMembersInd
Decisions Subject To ApprovaYes (true)DecisionsSubjectToApprovaInd
Minutes Of Governing BodyYes (true)MinutesOfGoverningBodyInd
Minutes Of CommitteesYes (true)MinutesOfCommitteesInd
Officer Mailing AddressfalseOfficerMailingAddressInd
Local ChaptersfalseLocalChaptersInd
Form990 Provided To Gvrn BodyYes (true)Form990ProvidedToGvrnBodyInd
Conflict Of Interest PolicyYes (true)ConflictOfInterestPolicyInd
Annual Disclosure Covered PrsnYes (true)AnnualDisclosureCoveredPrsnInd
Regular Monitoring EnfrcYes (true)RegularMonitoringEnfrcInd
Whistleblower PolicyYes (true)WhistleblowerPolicyInd
Document Retention PolicyYes (true)DocumentRetentionPolicyInd
Compensation Process CEOYes (true)CompensationProcessCEOInd
Compensation Process OtherYes (true)CompensationProcessOtherInd
Investment In Joint VenturefalseInvestmentInJointVentureInd
States Where Copy Of Return Is FldCAStatesWhereCopyOfReturnIsFldCd
Own WebsiteYes (X)OwnWebsiteInd
Upon RequestYes (X)UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1Martin A ScanlonBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone6512210566PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1111 Washington Ave So Ste 1400AddressLine1Txt
CityMinneapolisCityNm
State AbbreviationMNStateAbbreviationCd
ZIP55401ZIPCd

Form990 Part VII Section A Form990PartVIISectionAGrp (23 entries)

TitleTitleTxtAverage Hours Per WeekAverageHoursPerWeekRtAverage Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRtIndividual Trustee Or DirectorIndividualTrusteeOrDirectorIndOfficerOfficerIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmtHighest Compensated EmployeeHighestCompensatedEmployeeIndFormer Ofcr Director TrusteeFormerOfcrDirectorTrusteeInd
Peter J Taylor
President & Director, ECMC Foundation40.00.0Yes (X)Yes (X)$679,533$0$153,241
Derek Langhauser
Director not paid by Foundation2.08.0Yes (X)$0$130,000$0
Diana J Ingram
Director not paid by Foundation1.09.0Yes (X)$0$138,750$0
Jack O'Connell
Director not paid by Foundation2.06.0Yes (X)$0$135,000$0
James Runcie
Director not paid by Foundation1.09.0Yes (X)$0$86,250$0
James V McKeon
Board Chair not paid by Foundation2.015.0Yes (X)$0$193,750$0
Jennifer Anderson
Director not paid by Foundation1.08.0Yes (X)$0$91,875$0
Jeremy J Wheaton
President & CEO, ECMC Group, Inc. (until 07-02-22)0.040.0Yes (X)$0$1,241,931$121,714
Julia S Gouw
Director not paid by Foundation1.08.0Yes (X)$0$155,000$0
K Paul Singh
Director not paid by Foundation1.012.0Yes (X)$0$142,500$0
Maurice M Salter
Director not paid by Foundation1.09.0Yes (X)$0$157,500$0
Daniel S Fisher
Group Pres & CEO (eff. 07-03-22); Group GC & Corp Sec not paid by FND & ECMC Pres (until 07-02-22)0.040.0Yes (X)$0$823,522$100,834
Lynn Alvarez
VP, Foundation Programs and Strategy40.00Yes (X)$302,089$0$53,641
Martin A Scanlon
CFO & Treasurer not paid by Foundation0.040.0Yes (X)$0$709,896$91,649
Alissa Santoro
Office Manager & Executive Assistant40.00$122,044$0$20,879Yes (X)
Jennifer E Zeisler
Sr Dir, Program Management40.00$163,522$0$30,212Yes (X)
Jessica E Haselton
Dir, Program-Related Investments40.00$132,942$0$50,657Yes (X)
Loraine Park
Mgr, Learning and Impact40.00$117,897$0$35,091Yes (X)
Sarah Belnick
Sr Dir, Program Management40.00$147,575$0$29,347Yes (X)
Gregory A Van Guilder
Former CFO not paid by Foundation; current CIO, ECMC Group0.040.0$0$1,338,903$106,613Yes (X)
I King Jordan
Former Director not paid by Foundation0.00.0$0$30,000$0Yes (X)
John F DePodesta
Former Board Chair not paid by Foundation0.00.0$0$75,000$0Yes (X)
Roberta Cooper Ramo
Former Director not paid by Foundation0.00.0$0$60,000$0Yes (X)
FieldValueIRS element (for citing)
Total Reportable Comp From Org$1,665,602TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org$5,509,877TotReportableCompRltdOrgAmt
Total Other Compensation$793,878TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K7IndivRcvdGreaterThan100KCnt
Former Ofcr Employees ListedYes (true)FormerOfcrEmployeesListedInd
Total Comp Greater Than150 KYes (true)TotalCompGreaterThan150KInd
Compensation From Other SrcsfalseCompensationFromOtherSrcsInd

Contractor Compensation ContractorCompensationGrp

Contractor Name ContractorName

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1Indigo Events LLCBusinessNameLine1Txt

Contractor Address ContractorAddress

US Address USAddress

FieldValueIRS element (for citing)
Address Line148 Yale StAddressLine1Txt
CityMaplewoodCityNm
State AbbreviationNJStateAbbreviationCd
ZIP07040ZIPCd
FieldValueIRS element (for citing)
ServicesConsulting ServicesServicesDesc
Compensation$230,113CompensationAmt
FieldValueIRS element (for citing)
Cntrct Rcvd Greater Than100 K1CntrctRcvdGreaterThan100KCnt
Related Organizations$46,843,000RelatedOrganizationsAmt
Total Contributions$46,843,000TotalContributionsAmt

Total Oth Program Service Rev TotalOthProgramServiceRevGrp

FieldValueIRS element (for citing)
Total Revenue Column$0TotalRevenueColumnAmt
Related Or Exempt Func Income$0RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$0UnrelatedBusinessRevenueAmt
Exclusion$0ExclusionAmt
FieldValueIRS element (for citing)
Total Program Service Revenue$0TotalProgramServiceRevenueAmt

Investment Income InvestmentIncomeGrp

FieldValueIRS element (for citing)
Total Revenue Column$13,884TotalRevenueColumnAmt
Exclusion$13,884ExclusionAmt

Rental Income Or Loss RentalIncomeOrLossGrp

FieldValueIRS element (for citing)
Real$0RealAmt
Personal$0PersonalAmt

Gain Or Loss GainOrLossGrp

FieldValueIRS element (for citing)
Securities$0SecuritiesAmt
Other$0OtherAmt

Other Revenue Misc OtherRevenueMiscGrp (2 entries)

DescDescBusinessBusinessCdTotal Revenue ColumnTotalRevenueColumnAmtExclusionExclusionAmtRelated Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt
Intercompany Servicing Revenue900099$1,680$1,680
Miscellaneous Revenue900099$670$670

Miscellaneous Revenue MiscellaneousRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$0TotalRevenueColumnAmt
Related Or Exempt Func Income$0RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$0UnrelatedBusinessRevenueAmt
Exclusion$0ExclusionAmt
FieldValueIRS element (for citing)
Other Revenue Total$2,350OtherRevenueTotalAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$46,859,234TotalRevenueColumnAmt
Related Or Exempt Func Income$670RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$0UnrelatedBusinessRevenueAmt
Exclusion$15,564ExclusionAmt

Grants To Domestic Orgs GrantsToDomesticOrgsGrp

FieldValueIRS element (for citing)
Total$41,805,573TotalAmt
Program Services$41,805,573ProgramServicesAmt

Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp

FieldValueIRS element (for citing)
Total$1,188,504TotalAmt
Management And General$1,188,504ManagementAndGeneralAmt

Other Salaries And Wages OtherSalariesAndWagesGrp

FieldValueIRS element (for citing)
Total$2,387,955TotalAmt
Program Services$2,270,104ProgramServicesAmt
Management And General$117,851ManagementAndGeneralAmt

Pension Plan Contributions PensionPlanContributionsGrp

FieldValueIRS element (for citing)
Total$112,924TotalAmt
Program Services$107,351ProgramServicesAmt
Management And General$5,573ManagementAndGeneralAmt

Other Employee Benefits OtherEmployeeBenefitsGrp

FieldValueIRS element (for citing)
Total$231,459TotalAmt
Program Services$220,036ProgramServicesAmt
Management And General$11,423ManagementAndGeneralAmt

Payroll Taxes PayrollTaxesGrp

FieldValueIRS element (for citing)
Total$163,640TotalAmt
Program Services$155,564ProgramServicesAmt
Management And General$8,076ManagementAndGeneralAmt

Fees For Services Legal FeesForServicesLegalGrp

FieldValueIRS element (for citing)
Total$49,446TotalAmt
Program Services$36,568ProgramServicesAmt
Management And General$12,878ManagementAndGeneralAmt

Fees For Services Accounting FeesForServicesAccountingGrp

FieldValueIRS element (for citing)
Total$56,950TotalAmt
Management And General$56,950ManagementAndGeneralAmt

Fees For Services Other FeesForServicesOtherGrp

FieldValueIRS element (for citing)
Total$1,098,922TotalAmt
Program Services$106,252ProgramServicesAmt
Management And General$992,670ManagementAndGeneralAmt
Fundraising$0FundraisingAmt

Office Expenses OfficeExpensesGrp

FieldValueIRS element (for citing)
Total$259,582TotalAmt
Program Services$199,721ProgramServicesAmt
Management And General$59,861ManagementAndGeneralAmt

Information Technology InformationTechnologyGrp

FieldValueIRS element (for citing)
Total$166,803TotalAmt
Program Services$153,220ProgramServicesAmt
Management And General$13,583ManagementAndGeneralAmt

Occupancy OccupancyGrp

FieldValueIRS element (for citing)
Total$357,379TotalAmt
Program Services$295,821ProgramServicesAmt
Management And General$61,558ManagementAndGeneralAmt

Travel TravelGrp

FieldValueIRS element (for citing)
Total$33,677TotalAmt
Program Services$8,926ProgramServicesAmt
Management And General$24,751ManagementAndGeneralAmt

Conferences Meetings ConferencesMeetingsGrp

FieldValueIRS element (for citing)
Total$113,137TotalAmt
Program Services$12,944ProgramServicesAmt
Management And General$100,193ManagementAndGeneralAmt

Depreciation Depletion DepreciationDepletionGrp

FieldValueIRS element (for citing)
Total$70,095TotalAmt
Program Services$58,021ProgramServicesAmt
Management And General$12,074ManagementAndGeneralAmt

Insurance InsuranceGrp

FieldValueIRS element (for citing)
Total$43,233TotalAmt
Management And General$43,233ManagementAndGeneralAmt

Other Expenses OtherExpensesGrp

FieldValueIRS element (for citing)
DescMiscellaneous ExpenseDesc
Total$3,813TotalAmt
Program Services$302ProgramServicesAmt
Management And General$3,511ManagementAndGeneralAmt

All Other Expenses AllOtherExpensesGrp

FieldValueIRS element (for citing)
Total$0TotalAmt
Program Services$0ProgramServicesAmt
Management And General$0ManagementAndGeneralAmt
Fundraising$0FundraisingAmt

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$48,143,092TotalAmt
Program Services$45,430,403ProgramServicesAmt
Management And General$2,712,689ManagementAndGeneralAmt
Fundraising$0FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

FieldValueIRS element (for citing)
BOY$11,341,592BOYAmt
EOY$9,324,068EOYAmt

Accounts Receivable AccountsReceivableGrp

FieldValueIRS element (for citing)
BOY$4,891BOYAmt
EOY$5,329EOYAmt

Receivables From Officers Etc ReceivablesFromOfficersEtcGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$0EOYAmt

Rcvbl From Disqualified Prsn RcvblFromDisqualifiedPrsnGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$0EOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

FieldValueIRS element (for citing)
BOY$6,196BOYAmt
EOY$202,880EOYAmt
FieldValueIRS element (for citing)
Land Bldg Equip Cost Or Other Bss$236,540LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec$69,219LandBldgEquipAccumDeprecAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

FieldValueIRS element (for citing)
BOY$200,189BOYAmt
EOY$167,321EOYAmt

Investments Other Securities InvestmentsOtherSecuritiesGrp

FieldValueIRS element (for citing)
BOY$811,847,040BOYAmt
EOY$1,072,454,019EOYAmt

Investments Program Related InvestmentsProgramRelatedGrp

FieldValueIRS element (for citing)
BOY$5,176,372BOYAmt
EOY$7,311,160EOYAmt

Other Assets Total OtherAssetsTotalGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$0EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$828,576,280BOYAmt
EOY$1,089,464,777EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

FieldValueIRS element (for citing)
BOY$509,302BOYAmt
EOY$522,533EOYAmt

Grants Payable GrantsPayableGrp

FieldValueIRS element (for citing)
BOY$25,514,873BOYAmt
EOY$26,246,740EOYAmt

Loans From Officers Directors LoansFromOfficersDirectorsGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$0EOYAmt

Other Liabilities OtherLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$224,168BOYAmt
EOY$575,677EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$26,248,343BOYAmt
EOY$27,344,950EOYAmt
FieldValueIRS element (for citing)
Organization Follows FASB117Yes (X)OrganizationFollowsFASB117Ind

No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp

FieldValueIRS element (for citing)
BOY$802,327,937BOYAmt
EOY$1,062,119,827EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$802,327,937BOYAmt
EOY$1,062,119,827EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$828,576,280BOYAmt
EOY$1,089,464,777EOYAmt
FieldValueIRS element (for citing)
Info In Schedule O Part XIYes (X)InfoInScheduleOPartXIInd
Reconcilation Revenue Expnss-$1,283,858ReconcilationRevenueExpnssAmt
Net Unrlzd Gains Losses Invst$260,841,766NetUnrlzdGainsLossesInvstAmt
Other Changes In Net Assets$233,982OtherChangesInNetAssetsAmt
Method Of Accounting AccrualYes (X)MethodOfAccountingAccrualInd
Accountant Compile Or ReviewfalseAccountantCompileOrReviewInd
FS AuditedYes (true)FSAuditedInd

FS Audited Basis FSAuditedBasisGrp

FieldValueIRS element (for citing)
Consol And Sep Basis Fincl StmtYes (X)ConsolAndSepBasisFinclStmtInd
FieldValueIRS element (for citing)
Audit CommitteeYes (true)AuditCommitteeInd

Schedule A IRS990ScheduleA

FieldValueIRS element (for citing)
Supporting Organization509a3Yes (X)SupportingOrganization509a3Ind
Supporting Org Type2Yes (X)SupportingOrgType2Ind
Supported Organizations2SupportedOrganizationsCnt

Supported Org Information SupportedOrgInformationGrp (2 entries)

EINEINOrganization TypeOrganizationTypeCdGoverning Document ListedGoverningDocumentListedIndSupportSupportAmtOther SupportOtherSupportAmt
Educational Credit Management Corporation
4117786179Yes (true)$46,143,092$0
ECMC Education Inc
4722374882Yes (true)$2,000,000$0
FieldValueIRS element (for citing)
Supported Organizations Total2SupportedOrganizationsTotalCnt
Support Sum$48,143,092SupportSumAmt
Other Support Sum$0OtherSupportSumAmt

Form990 Sch A Supporting Org Form990SchASupportingOrgGrp

FieldValueIRS element (for citing)
Listed By Name Governing DocYes (true)ListedByNameGoverningDocInd
Suprt Org No IRS DeterminationfalseSuprtOrgNoIRSDeterminationInd
Supported Org Section C456falseSupportedOrgSectionC456Ind
Supported Org Not Organized USfalseSupportedOrgNotOrganizedUSInd
Organization Change Suprt OrgfalseOrganizationChangeSuprtOrgInd
Support Non Supported OrgfalseSupportNonSupportedOrgInd
Payment Substantial ContribtrfalsePaymentSubstantialContribtrInd
Loan Disqualified PersonfalseLoanDisqualifiedPersonInd
Controlled Disqualified PrsnfalseControlledDisqualifiedPrsnInd
Disqualified Prsn Controll IntfalseDisqualifiedPrsnControllIntInd
Disqualified Prsn Ownr IntfalseDisqualifiedPrsnOwnrIntInd
Excess Business Holdings RulesfalseExcessBusinessHoldingsRulesInd
Contribution ControllerfalseContributionControllerInd
Contribution FamilyfalseContributionFamilyInd
Contribution35 ControlledfalseContribution35ControlledInd
FieldValueIRS element (for citing)
Majority Dir Trst Supported OrgYes (true)MajorityDirTrstSupportedOrgInd

Schedule B IRS990ScheduleB

Contributor Information ContributorInformationGrp

FieldValueIRS element (for citing)
ContributorRESTRICTEDContributorNum

Contributor Business Name ContributorBusinessName

FieldValueIRS element (for citing)
Business Name Line1RESTRICTEDBusinessNameLine1

Contributor US Address ContributorUSAddress

FieldValueIRS element (for citing)
Address Line1RESTRICTEDAddressLine1
Address Line2RESTRICTEDAddressLine2
CityRESTRICTEDCity
StateRESTRICTEDState
ZIP CodeRESTRICTEDZIPCode
FieldValueIRS element (for citing)
Total ContributionsRESTRICTEDTotalContributionsAmt

Schedule D IRS990ScheduleD

Leasehold Improvements LeaseholdImprovementsGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$143,661OtherCostOrOtherBasisAmt
Depreciation$30,519DepreciationAmt
Book Value$113,142BookValueAmt

Equipment EquipmentGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$92,879OtherCostOrOtherBasisAmt
Depreciation$38,700DepreciationAmt
Book Value$54,179BookValueAmt
FieldValueIRS element (for citing)
Total Book Value Land Buildings$167,321TotalBookValueLandBuildingsAmt

Other Securities OtherSecuritiesGrp (2 entries)

DescDescBook ValueBookValueAmtMethod ValuationMethodValuationCd
Investment in ECMC Group, Inc. Apportioned Investment Pool
Investment in ECMC Group, Inc. Apportioned Investment Pool$1,072,454,019F
FieldValueIRS element (for citing)
Total Book Value Securities$1,072,454,019TotalBookValueSecuritiesAmt

Other Liabilities Org OtherLiabilitiesOrgGrp (9 entries)

DescDescAmtAmt
Due To ECMC Group, Inc.
Due To Educational Credit Management Corporation
Due to ECMC Shared Services Company, LLC
Due to ECMC Education, Inc.
Lease Liabilities
Due to ECMC Group, Inc.$416,851
Due to ECMC Shared Services Company, LLC$87,186
Due to ECMC Holdings Corporation$1,074
Lease Liabilities$70,566
FieldValueIRS element (for citing)
Total Liability$575,677TotalLiabilityAmt
Footnote TextYes (X)FootnoteTextInd
Total Rev Etc Audited Fincl Stmt$260,858,000TotalRevEtcAuditedFinclStmtAmt
Net Unrealized Gains Invst$260,841,766NetUnrealizedGainsInvstAmt
Other Revenue$0OtherRevenueAmt
Revenue Not Reported$260,841,766RevenueNotReportedAmt
Revenue Subtotal$16,234RevenueSubtotalAmt
Other Revenues Not Included$46,843,000OtherRevenuesNotIncludedAmt
Revenue Not Reported Fincl Stmt$46,843,000RevenueNotReportedFinclStmtAmt
Total Revenue Per Form990$46,859,234TotalRevenuePerForm990Amt
Tot Expns Etc Audited Fincl Stmt$47,907,000TotExpnsEtcAuditedFinclStmtAmt
Other Expenses Included$0OtherExpensesIncludedAmt
Expenses Not Reported$0ExpensesNotReportedAmt
Expenses Subtotal$47,907,000ExpensesSubtotalAmt
Other Expenses Not Included$236,092OtherExpensesNotIncludedAmt
Expenses Not Rpt Fincl Stmt$236,092ExpensesNotRptFinclStmtAmt
Total Expenses Per Form990$48,143,092TotalExpensesPerForm990Amt

Supplemental Information Detail SupplementalInformationDetail (4 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
Schedule D, Part XI, Line 2(a) Net unrealized gain on investmentsNet unrealized gain on investment in the ECMC Group, Inc. apportioned investment pool are $260,841,766.
Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnoteThe FIN 48 (ASC 740) disclosure in the ECMC Foundation financial statements reads as follows: "The Internal Revenue Service has determined that ECMC Foundation is classified as a tax-exempt organization under Section 501(c)(3) of the Internal Revenue Code (IRC) and is not a private foundation under IRC Sections 509(a)(1) and 170(b)(1)(A)(iv). As such, ECMC Foundation is exempt from income taxes under IRC Section 501(a) except on unrelated business income; as a public charity, contributions to ECMC Foundation are deductible. ECMC Foundation is also exempt from state income tax. ECMC Foundation follows the accounting standards in evaluating uncertain tax positions. This guidance prescribes recognition threshold principles for the financial statement recognition of tax positions taken or expected to be taken on a tax return that are not certain to be realized. No liability has been recognized by ECMC Foundation for uncertain tax positions as of December 31, 2021 or 2020. ECMC Foundation's tax returns are subject to review and examination by federal and state authorities."
Schedule D, Part XI, Line 4(b) Other revenues in form 990 not in audited financial statementsCash contribution from ECMC Group, Inc. - 2024000 Cash contribution from Educational Credit Management Corporation - 44819000
Schedule D, Part XII, Line 4(b) Other expenses in form 990 not in audited financial statementsGrants awarded in a prior year and returned or refunded in 2021. The awards were correctly recorded in the prior years on ECMC Foundation's books - 236092

Schedule I IRS990ScheduleI

FieldValueIRS element (for citing)
Grant Records MaintainedYes (true)GrantRecordsMaintainedInd

Recipient Table RecipientTable (202 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdRecipient EINRecipientEINIRC SectionIRCSectionDescCash GrantCashGrantAmtPurpose Of GrantPurposeOfGrantTxtAddress Line2USAddress/AddressLine2Txt
ECMC Education
111 Washington Ave SMinneapolisMN55401472237488501(C)(3)$2,000,000Career Readiness & Program Support
Educational Credit Management Corporation
111 Washington Ave SMinneapolisMN55401411778617501(C)(3)$1,910,000College Success
ECMC Group
111 Washington Ave SMinneapolisMN55401411991995501(C)(3)$200,000Education Innovation Ventures
826 MSP
1915 E 22nd StMinneapolisMN55404271372442501(C)(3)$10,000General Support
AchieveMpls
2829 University Ave SEMinneapolisMN55414411425264501(C)(3)$20,000General Support
Achieving the Dream
8484 Georgia AveSilver SpringMD20910271635830501(C)(3)$20,000General Support
Active Minds
2001 S St NWWashingtonDC20009200587172501(C)(3)$299,500College Success & General Support
AdmitHub PBC
38 Chauncy StBostonMA02111465681542C Corporation$75,000Program Support
Adopt-A-Classroom Inc
401 Second Ave NMinneapolisMN55401650828272501(C)(3)$20,000General Support
Albuquerque Academy
6400 Wyoming Blvd NEAlbuquerqueNM87109850129165501(C)(3)$10,000General Support
AltaSea at the Port of Los Angeles
2456 South Signal StSan PedroCA90731463977904501(C)(3)$75,000Career Readiness
America Needs You
82 Nassau StNew YorkNY10038270601596501(C)(3)$20,000General Support
American Indian College Fund
8333 Greenwood BlvdDenverCO80221521573446501(C)(3)$625,000College Success
APIA Scholars
2025 M St NWWashingtonDC20036571192973501(C)(3)$75,000College Success
Appetite For Change Inc
1200 West Broadway AveMinneapolisMN55411275112040501(C)(3)$10,000General Support
Arizona State University Foundation for a New American University
300 East University DrTempeAZ85281866051042501(C)(3)$469,000Program Support
Arman Roy Foundation
317 Van Neste DrFlemingtonNJ08822834684062501(C)(3)$10,000General Support
Art of Problem Solving Initiative Inc
55 Exchange PlNew YorkNY10005201239616501(C)(3)$20,000General Support
Asian Americans Advancing Justice Los Angeles
1145 Wilshire BlvdLos AngelesCA90017953854152501(C)(3)$25,000General Support
Asian Pacific Community Fund
1145 Wilshire BlvdLos AngelesCA90017954257997501(C)(3)$20,000General Support
Aspen Institute
2300 N St NWWashingtonDC20037840399006501(C)(3)$605,000College Success
Association for Career and Technical Education
1410 King StAlexandriaVA22314520632865501(C)(3)$1,256,397Career Readiness
Association of Community College Trustees
1101 17th St NWWashingtonDC20036526120210501(C)(3)$1,205,125Career Readiness
Big Brothers Big Sisters of Tampa Bay Inc
4630 Woodland Corporate BlvdTampaFL33614592173085501(C)(3)$20,000General Support
Braven
171 N Aberdeen StChicagoIL60607464340594501(C)(3)$400,000College Success
Bright Prospect
1460 E Holt AvePomonaCA91767522363234501(C)(3)$300,000College Success
Brooke School Foundation
190 Cummins HwyRoslindaleMA02131300015324501(C)(3)$20,000General Support
B's Girls Foundation
PO Box 670167HoustonTX77267825456072501(C)(3)$20,000General Support
Cal Poly Pomona Philanthropic Foundation
3801 W Temple AvePomonaCA91768832300241501(C)(3)$15,000General Support
Calbright College
1102 Q StSacramentoCA95828832103700501(C)(3)$450,000Program Support
California State Fullerton Philanthropic Foundation Inc
2600 Nutwood AveFullertonCA92831330567945501(C)(3)$50,000Program Support
California State University Channel Islands Foundation
1 University DrCamarilloCA93012770433230501(C)(3)$310,004College Success & General Support
California State University Long Beach 49er Foundation
6300 E State University DrLong BeachCA90815452163910501(C)(3)$15,000General Support
Carrie Steel-Pitts Home
667 Fairburn Rd NWAtlantaGA30331580607078501(C)(3)$20,000General Support
CCF Community Initiatives Fund
221 S Figueroa StLos AngelesCA90012954774698501(C)(3)$20,000General Support
Center for Pan Asian Community Services (CPACS)
3510 Shallowford Rd NEAtlantaGA30341581437980501(C)(3)$30,000General Support
Centreville Layton School
6201 Kennett PikeCentrevilleDE19807510232858501(C)(3)$10,000General Support
Chico State Enterprises
25 Main StChicoCA95929680386518501(C)(3)$497,915College Success
Chula Vista Elementary School District
84 East J StChula VistaCA91910956000613School District$10,000General Support
City Year
2331 Alhambra BlvdSacramentoCA95817222882549501(C)(3)$4,930,775Program Support
Clark Atlanta University
223 James P Brawley DrAtlantaGA30314581825259501(C)(3)$300,000College Success
Code Kitty
2955 Oakview Ln NPlymouthMN55441822302321501(C)(3)$20,000General Support
College Possible
755 Prior Ave NSt PaulMN55104411968798501(C)(3)$400,000College Success
Communities Foundation of Texas
5500 Caruth Haven LnDallasTX75225750964565501(C)(3)$750,000Career Readiness
Communities in Schools of Western Nevada
241 Ridge StRenoNV89501880292094501(C)(3)$15,000General Support
Community College Baccalaureate Association
575 Lake Bingham RdLake MaryFL32746651026796501(C)(3)$154,179Career Readiness
Community Family Centers
7524 Avenue EHoustonTX77012741691632501(C)(3)$20,000General Support
Community Foundation of the Ozarks
425 E Traffic WaySpringfieldMO65801237290968501(C)(3)$10,000General Support
Community Partners
1000 N Alameda StLos AngelesCA90012954302067501(C)(3)$198,000Career Readiness, College Success & General Support
Compton Community College District
1111 E Artesia BlvdComptonCA90221956004983School District$30,000General Support
Coro Southern California
1000 N Alameda StLos AngelesCA90012954274561501(C)(3)$19,000General Support
Credit Abuse Resistance Education
66 Canal Center PlazaAlexandriaVA22314810788458501(C)(3)$10,000General Support
Davidson College
405 N Main StDavidsonNC28035560529961501(C)(3)$105,000Program Support
Digital Promise Global
1001 Connecticut Ave NWWashingtonDC20036465460594501(C)(3)$75,000General Support
East Side Neighborhood Services
1700 2nd St NEMinneapolisMN55413410873798501(C)(3)$20,000General Support
EdSource
436 14th StOaklandCA94612942434900501(C)(3)$75,000General Support
Education Commission of the States
700 Broadway StDenverCO80203310722194501(C)(3)$15,000College Success
Education Design Lab
1200 18th St NWWashingtonDC20036464248042501(C)(3)$14,400Career Readiness
EquipHer Inc
17401 Commerce Park BlvdTampaFL33647831072707501(C)(3)$20,000General Support
Equity Alliance MN
6063 Hudson RdWoodburyMN55125411819999501(C)(3)$20,000General Support
Evans Scholars Foundation
2501 Patriot BlvdGlenviewIL60026362867141501(C)(3)$15,000General Support
Excelencia in Education
1156 15th St NWWashingtonDC20005200927912501(C)(3)$15,000General Support
Eye to Eye
50 Broad StNew YorkNY10004510570498501(C)(3)$350,000College Success
Face to Face
1165 Arcade StSt PaulMN55106410986780501(C)(3)$20,000General Support
Food & Friends Inc
219 Riggs Rd NEWashingtonDC20011521648941501(C)(3)$10,000General Support
Fostering Media Connections
412 W 6thLos AngelesCA90014453860344501(C)(3)$70,000Program Support
Foundation for Eden Prairie Schools
8100 School RdEden PrairieMN55344431999421501(C)(3)$10,000General Support
Friends of South High Foundation
3131 19th Ave SMinneapolisMN55407411506266501(C)(3)$40,000General Support
Funders Together to End Homelessness Inc
89 South StBostonMA02111273033048501(C)(3)$20,000Career Readiness & General Support
Future is Now Schools - Los Angeles
626 Wilshire BlvdLos AngelesCA90017271859126501(C)(3)$75,000General Support
Generation Hope
415 Michigan Ave NEWashingtonDC20017273554088501(C)(3)$500,000Career Readiness
Georgia State University Research Foundation
PO Box 3999AtlantaGA30302581845423501(C)(3)$560,111College Success
Get Schooled Foundation
1515 BroadwayNew YorkNY10036272245578501(C)(3)$490,000College Success
Great River School
1326 Energy Park DrSt PaulMN55108341975307501(C)(3)$10,000General Support
Growing Inland Achievement
33562 Yucaipa BlvdYucaipaCA92399851010439501(C)(3)$375,000College Success
Hallie Q Brown Community Center
270 N Kent StSt PaulMN55102410693846501(C)(3)$35,000General Support
HealGrief
2934 Beverly Glen CrLos AngelesCA90077954489570501(C)(3)$10,000General Support
Henry E Huntington Library and Art Gallery
1151 Oxford RdSan MarinoCA91108951644589501(C)(3)$10,000General Support
Higher Learning Advocates
1001 Connecticut Ave NWWashingtonDC20036814690411501(C)(3)$75,000General Support
Hillsdale College
33 E College StHillsdaleMI49242381374230501(C)(3)$7,500General Support
iCivics
1035 Cambridge StCambridgeMA02141383796793501(C)(3)$50,000General Support
Institute for Citizens & Scholars
5 Vaughn DrPrincetonNJ08540210703075501(C)(3)$5,198Career Readiness
Institute for Evidence-Based Change
3711 Long Beach BlvdLong BeachCA90807263542835501(C)(3)$599,975College Success
Institute for Women's Policy Research
1200 18th St NWWashingtonDC20036521549572501(C)(3)$300,000Career Readiness
Institute of Nonprofit News
714 W Olympic BlvdLos AngelesCA90015272614911501(C)(3)$75,000General Support
ISD 196 - Rosemount High School
3455 153rd St WRosemountMN55068416007792School$10,000General Support
James B Hunt Jr Institute for Educational Leadership and Policy Foundation
4000 Centregreen WayCaryNC27513800025367501(C)(3)$75,000College Success
Jeremiah Program
615 1st Ave NEMinneapolisMN55413411801834501(C)(3)$40,000General Support
Jewish Community Center of Greater Albuquerque
5520 Wyoming Blvd NEAlbuquerqueNM87109850457178501(C)(3)$10,000General Support
Jobs for the Future
88 Broad StBostonMA02110061164568501(C)(3)$427,940Career Readiness, Edu. Innov. Ventures & Gen. Support
Jordan Public Schools
500 Sunset DrJordanMN55352416003790School$15,000General Support
Junior Achievement of the Upper Midwest Inc
1745 University Ave WSt PaulMN55104411424988501(C)(3)$10,000General Support
Juxtaposition Arts
2007 Emerson AveMinneapolisMN55411411851915501(C)(3)$10,000General Support
Kids In Need Foundation
2719 Patton RdRosevilleMN55113821078462501(C)(3)$20,000General Support
KIPP Minnesota
5034 N Oliver AveMinneapolisMN55430208877750501(C)(3)$30,000General Support
KnowledgeWorks Foundation
312 Plum StCincinnatiOH45402311321973501(C)(3)$525,000College Success
League for Innovation in the Community College
2040 S Alma School RdChandlerAZ85286952577300501(C)(3)$504,460Career Readiness
Let's Get Ready
50 BroadwayNew YorkNY10004311698832501(C)(3)$500,000College Success
LIFT
999 N Capitol St NEWashingtonDC20002522168409501(C)(3)$500,000Career Readiness
Locker Project
PO Box 3134PortlandME04104471257754501(C)(3)$30,000General Support
Los Angeles City College Foundation
855 N Vermont AveLos AngelesCA90029956207819501(C)(3)$67,075General Support
Lynwood Partners Educational Foundation
11321 Bullis RdLynwoodCA90262473028270501(C)(3)$10,000General Support
MacPhail Center for Music
501 S 2nd StMinneapolisMN55401411729340501(C)(3)$10,000General Support
Maine Inside Out
56 North StPortlandME04101830462687501(C)(3)$10,000General Support
Marymount University
2807 N Glebe RdArlingtonVA22207540573801501(C)(3)$10,000General Support
Mary's Center for Maternal and Child Care Inc
2333 Ontario Rd NWWashingtonDC20009521594116501(C)(3)$10,000General Support
MDRC
200 Vesey StNew YorkNY10281237379473501(C)(3)$75,000General Support
Mentor & Match Foundation
2785 Pacific Coast HwyTorranceCA90505851922236501(C)(3)$50,000College Success
Mercy Learning Center of Bridgeport Inc
637 Park AveBridgeportCT06604222859879501(C)(3)$20,000General Support
mikeroweWORKS Foundation
1207 4th StSanta MonicaCA90401264324338501(C)(3)$50,000General Support
Minnesota Adult & Teen Challenge
740 E 24th StMinneapolisMN55404411517351501(C)(3)$20,000General Support
Moms on a Mission
1109 Larkwood CtVirginia BeachVA23464611949074501(C)(3)$15,000General Support
National Alliance for Partnerships in Equity (NAPE) Education Foundation
91 Newport PikeGapPA17527134249100501(C)(3)$755,500Career Readiness
National Association of System Heads (NASH)
3300 Metzerott RdAdelphiMD20783208987993501(C)(3)$100,000Program Support
National Center for Civic Innovation
121 Avenue of The AmericasNew YorkNY20005020590588501(C)(3)$75,000College Success
National Public Radio
1111 N Capitol St NEWashingtonDC20002520907625501(C)(3)$250,000Program Support
Nativity of Our Lord School
1900 Stanford AveSt PaulMN55105410693956501(C)(3)$10,000General Support
Neighborhood House
179 Robbie St ESt PaulMN55107410693916501(C)(3)$20,000General Support
New America
740 15th St NWWashingtonDC20005522096845501(C)(3)$1,450,500Career Readiness
New Moms Inc
5317 W Chicago AveChicagoIL60651363265804501(C)(3)$500,000Career Readiness
New Richmond Middle School
701 East 11th StNew RichmondWI54017396003673School$10,000General Support
North Branch Area Education Foundation
5842 Old Main StNorth BranchMN55056272029579501(C)(3)$10,000General Support
North Carolina State University
2701 Sullivan DrRaleighNC27695566000756501(C)(3)$45,281Career ReadinessSte 240
North Fulton Community Charities
11270 Elkins RdRoswellGA30076581521088501(C)(3)$20,000General Support
Northside Achievement Zone (NAZ)
2123 W Broadway AveMinneapolisMN55411300238807501(C)(3)$20,000General Support
Notre Dame High School of West Haven Inc
One Notre Dame WayWest HavenCT06516060646748501(C)(3)$25,000General Support
Open Education Global
60 Thoreau StConcordMA01742010908761501(C)(3)$450,000College Success
Oxford Community Schools
10 N Washington StOxfordMI48371386003081School$10,000General Support
People Serving People
614 Third St SMinneapolisMN55415411965067501(C)(3)$20,000General Support
Postsecondary National Policy Institute
1828 L St NWWashingtonDC20036474374655501(C)(3)$250,000College Success
Proyecto Pastoral
135 N Mission RdLos AngelesCA90033953213958501(C)(3)$20,000General Support
Public Policy Institute of California
500 Washington StSan FranciscoCA94111943207299501(C)(3)$10,000General Support
Ranken Technical College
4431 Finney AveSt LouisMO63113430471057501(C)(3)$694,939Career Readiness
Ready to Succeed
1514 17th StSanta MonicaCA90404832282113501(C)(3)$200,000College Success
Regents of the University of California Los Angeles
2005 Moore HallLos AngelesCA90095956006143501(C)(3)$75,000College Success
REMERGE
340 Auburn Ave NEAtlantaGA30312582509965501(C)(3)$20,000General Support
Research Foundation of the City University of New York
230 W 41st StNew YorkNY10036131988190501(C)(3)$150,000College Success
Reve Academy
807 Broadway St NEMinneapolisMN55413274148333501(C)(3)$10,000General Support
Rise Education Fund
4221 Grand View BlvdLos AngelesCA90066843954465501(C)(3)$350,000College Success
Rockefeller Philanthropy Advisors
6 W 48th StNew YorkNY10036133615533501(C)(3)$200,000College Success
Rutgers University Foundation
335 George StNew BrunswickNJ08901237318742501(C)(3)$185,000College Success
Sacramento Loaves and Fishes
PO Box 13495SacramentoCA95813680189897501(C)(3)$30,000General Support
Saint Charles Borromeo School
2727 Stinson BlvdSt AnthonyMN55418410706912501(C)(3)$10,000General Support
Saint Paul Public Schools - Nokomis North
360 Colborne StSt PaulMN55102410901311School$20,000General Support
Sanford School
6900 Lancaster PikeHockessinDE19707510064331501(C)(3)$10,000General Support
Schools on Wheels (CA)
PO Box 23371VenturaCA93002954422640501(C)(3)$10,000General Support
Share the Table Inc
PO Box 4170Surf CityNC28445352587416501(C)(3)$10,000General Support
Sinclair Community College
444 West Third StDaytonOH45402310723444501(C)(3)$316,821College Success
Skillpointe Foundation Inc
5256 Peachtree RdChambleeGA30341851384690501(C)(3)$30,000General Support
Solano County Office of Education
5100 Business Center DrFairfieldCA94534946002197501(C)(3)$10,000General Support
Southern California Grantmakers
1000 North Alameda StLos AngelesCA90012952831058501(C)(3)$25,000General Support
St Croix Preparatory Academy
4260 Stagecoach Trail NStillwaterMN55082900103622501(C)(3)$10,000General Support
State Higher Education Executive Officers Association
3035 Center Green DrBoulderCO80301237167258501(C)(3)$400,000College Success
Station 1
280 Merrimack StLawrenceMA02111813784803501(C)(3)$400,000College Success
Step Up for Students
1901 Ulmerton RdClearwaterFL33762593649371501(C)(3)$20,000General Support
Summit Academy OIC
935 Olson Memorial HwyMinneapolisMN55405410908458501(C)(3)$15,000General Support
Supporting The Taylor House Inc
PO Box 853RosevilleCA95678460748514501(C)(3)$20,000General Support
Swipe Out Hunger
800 Wilshire BlvdLos AngelesCA90017452038035501(C)(3)$350,000College Success
Teacher's College Columbia University
525 W 120th StNew YorkNY10027131624202501(C)(3)$75,000Program SupportBox 21
Temecula Valley Unified School District
31350 Rancho Vista RdTemeculaCA92592330741945School District$10,000General Support
Temple University
1316 W Ontario StPhiladelphiaPA19140231365971501(C)(3)$475,000College SuccessJones Hall
Tennessee Higher Education Initiative Inc
1006 Shelby AveNashvilleTN37206454531767501(C)(3)$400,000Career Readiness
The Banyan Community
2529 13th Ave SMinneapolisMN55404411922813501(C)(3)$40,000General Support
The Brookings Institution
1775 Massachusetts Ave NWWashingtonDC20036530196577501(C)(3)$300,000Career Readiness
The Campaign for College Opportunity
1149 S Hill StLos AngelesCA90015200427622501(C)(3)$25,000General Support
The Center to Advance CTE
8484 Georgia AveSilver SpringMD20910731086246501(C)(3)$1,261,582Career Readiness
The Community Foundation for Northern Virginia
2940 Hunter Mill RdOaktonVA22124510232459501(C)(3)$25,000General Support
The Forge For Families
3435 Dixie DrHoustonTX77021760485959501(C)(3)$20,000General Support
The Global Good Fund
3066 Hobbs RdGlenwoodMD21738461495972501(C)(3)$15,000General Support
The Hidden Genius Project
2934 Telegraph AveOaklandCA94609460689949501(C)(3)$20,000General Support
The Manufacturing Institute
733 10th St NWWashingtonDC20001521073576501(C)(3)$1,500,000Career Readiness
The Opportunity Network
85 Broad StNew YorkNY10004431984494501(C)(3)$400,000College Success
The Partnership Plan
1875 Greeley St SStillwaterMN55082203012418501(C)(3)$10,000General Support
The RP Group
369-B Third StSan RafaelCA94901943207140501(C)(3)$65,000College Success
The Santa Fe Opera
301 Opera DrSanta FeNM87506850131810501(C)(3)$10,000General Support
The Teen Warehouse Inc
1121 Thatcher StWilmingtonDE19802823855379501(C)(3)$350,000Program Support
The UCLA Foundation
UCLA External Affairs Box 951590Los AngelesCA90095952250801501(C)(3)$90,000General SupportWilshire Center
The University of Houston - Downtown
One Main StHoustonTX77002746001399501(C)(3)$75,000Program Support
The Urban Institute
500 LEnfant PlazaWashingtonDC20024520880375501(C)(3)$5,500Career Readiness
Thurgood Marshall College Fund
901 F St NWWashingtonDC20004411750692501(C)(3)$500,000College Success
Tulane University
1555 Poydras StNew OrleansLA70112720423889501(C)(3)$10,000General Support
Twin Cities Catalyst Music
75 Civic Center PkwyBurnsvilleMN55337472182792501(C)(3)$10,000General Support
Uncommon Individual Foundation
80 W Lancaster AveDevonPA19333222741682501(C)(3)$75,000General Support
United Way Bay Area (UWBA)
550 Kearny StSan FranciscoCA94108941312348501(C)(3)$400,000College Success
United Way of Humphreys County
122 W Main StWaverlyTN37185621777911501(C)(3)$25,000General Support
UNITE-LA Inc
1055 Wilshire BlvdLos AngelesCA90017820576380501(C)(3)$150,000College Success
University of Illinois Foundation
Gies College of BusinessChicagoIL60673376006007501(C)(3)$20,000General SupportPO Box 734500
University of Louisville Research Foundation
Atria Bldg JD Nichols CampusLouisvilleKY40202611029626501(C)(3)$130,494College Success300 E Market St
University of Nebraska Medical Center
985045 Nebraska Medical CenterOmahaNE68198470049123501(C)(3)$10,000General Support
University of New Mexico Health Sciences Center
1 University of New MexicoAlbuquerqueNM87131856000642501(C)(3)$250,000Program Support
Vassar College
124 Raymond AvePoughkeepsieNY12604141338587501(C)(3)$75,000General Support
Venn Foundation
1127 Barclay StSt PaulMN55106814476503501(C)(3)$504,004Education Innovation Ventures
Veterans Education Success
4708 Essex AveChevy ChaseMD20815462070196501(C)(3)$300,000College Success
WASC Senior College & University Commission
1080 Marina Village PkwyAlamedaCA94501462847593501(C)(3)$265,000College Success
Washington Monthly Corporation
1200 18th St NWWashingtonDC20036800434806501(C)(3)$50,000Program Support
WestEd
730 Harrison StSan FranciscoCA94107943233542501(C)(3)$450,000Career Readiness
Western Communities Action Network
5213 Shoreline DrMoundMN55364411466409501(C)(3)$10,000General Support
Whittier College
13406 Philadelphia StWhittierCA90601951644048501(C)(3)$50,000General Support
Williamson College of the Trades
106 S New Middletown RdMediaPA19063231352691501(C)(3)$10,000General Support
Woodson Center
1625 K St NWWashingtonDC20006521217891501(C)(3)$22,500General Support
Young Artists Initiative
463 Marie Ave EastSt PaulMN55106473986964501(C)(3)$20,000General Support
Young Men's Christian Association of the North
651 NicolletMinneapolisMN55414452563299501(C)(3)$33,000General Support
FieldValueIRS element (for citing)
Total501c3 Org201Total501c3OrgCnt
Total Other Org1TotalOtherOrgCnt

Supplemental Information Detail SupplementalInformationDetail

FieldValueIRS element (for citing)
Form And Line ReferenceSchedule I, Part I, Line 2 Procedures for monitoring use of grant funds.FormAndLineReferenceDesc
ExplanationHelping low-income students pursue higher education is core to ECMC Foundation's mission. ECMC Foundation closely monitors the use of the cash grants to ECMC Education, Inc. through reports to management and the Board of Directors on a regular basis. The remaining grants and assistance to the organizations listed in Part II further ECMC Foundation's mission and program evaluations are part of all grant projects funded.ExplanationTxt

Schedule J IRS990ScheduleJ

FieldValueIRS element (for citing)
Idemnification Gross Up PmtsYes (X)IdemnificationGrossUpPmtsInd
Written Policy Ref T And E ExpnssYes (true)WrittenPolicyRefTAndEExpnssInd
Substantiation RequiredYes (true)SubstantiationRequiredInd
Compensation CommitteeYes (X)CompensationCommitteeInd
Independent ConsultantYes (X)IndependentConsultantInd
Compensation SurveyYes (X)CompensationSurveyInd
Board Or Committee ApprovalYes (X)BoardOrCommitteeApprovalInd
Severance PaymentfalseSeverancePaymentInd
Supplemental Nonqual Rtr PlanYes (true)SupplementalNonqualRtrPlanInd
Equity Based Comp ArrngmfalseEquityBasedCompArrngmInd
Comp Based On Revenue Of Flng OrgfalseCompBasedOnRevenueOfFlngOrgInd
Comp Bsd On Rev Related OrgsYes (true)CompBsdOnRevRelatedOrgsInd
Comp Bsd Net Earns Flng OrgfalseCompBsdNetEarnsFlngOrgInd
Comp Bsd Net Earns Rltd OrgsYes (true)CompBsdNetEarnsRltdOrgsInd
Any Non Fixed PaymentsfalseAnyNonFixedPaymentsInd
Initial Contract ExceptionfalseInitialContractExceptionInd

Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (16 entries)

TitleTitleTxtBase Compensation Filing OrgBaseCompensationFilingOrgAmtCompensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmtBonus Filing OrganizationBonusFilingOrganizationAmountBonus Related OrganizationsBonusRelatedOrganizationsAmtOther Compensation Filing OrgOtherCompensationFilingOrgAmtOther Compensation Rltd OrgsOtherCompensationRltdOrgsAmtDeferred Compensation Flng OrgDeferredCompensationFlngOrgAmtDeferred Comp Rltd OrgsDeferredCompRltdOrgsAmtNontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmtNontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmtTotal Compensation Filing OrgTotalCompensationFilingOrgAmtTotal Compensation Rltd OrgsTotalCompensationRltdOrgsAmtComp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmtComp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt
Peter J Taylor
President & Director, ECMC Foundation$487,526$0$80,000$0$112,007$0$133,330$0$19,911$0$832,774$0$94,985$0
Roberta Cooper Ramo
Former Director not paid by Foundation$0$60,000$0$0$0$0$0$0$0$0$0$60,000$0$0
John F DePodesta
Former Board Chair not paid by Foundation$0$75,000$0$0$0$0$0$0$0$0$0$75,000$0$0
I King Jordan
Former Director not paid by Foundation$0$30,000$0$0$0$0$0$0$0$0$0$30,000$0$0
Julia S Gouw
Director not paid by Foundation$0$155,000$0$0$0$0$0$0$0$0$0$155,000$0$0
James V McKeon
Board Chair not paid by Foundation$0$193,750$0$0$0$0$0$0$0$0$0$193,750$0$0
Maurice M Salter
Director not paid by Foundation$0$157,500$0$0$0$0$0$0$0$0$0$157,500$0$0
Jeremy J Wheaton
President & CEO, ECMC Group, Inc. (until 07-02-22)$0$613,233$0$605,500$0$23,198$0$89,207$0$32,507$0$1,363,645$0$19,500
Gregory A Van Guilder
Former CFO not paid by Foundation; current CIO, ECMC Group$0$679,500$0$527,838$0$131,565$0$90,009$0$16,604$0$1,445,516$0$19,500
Lynn Alvarez
VP, Foundation Programs and Strategy$296,578$0$0$0$5,511$0$35,400$0$18,241$0$355,730$0$1,048$0
Daniel S Fisher
Group Pres & CEO (eff. 07-03-22); Group GC & Corp Sec not paid by FND & ECMC Pres (until 07-02-22)$0$413,901$0$385,921$0$23,700$0$66,055$0$34,779$0$924,356$0$19,500
Martin A Scanlon
CFO & Treasurer not paid by Foundation$0$366,173$0$320,702$0$23,021$0$59,142$0$32,507$0$801,545$0$19,500
Sarah Belnick
Sr Dir, Program Management$146,347$0$0$0$1,228$0$17,803$0$11,544$0$176,922$0$0$0
Jessica E Haselton
Dir, Program-Related Investments$130,984$0$0$0$1,958$0$16,827$0$33,830$0$183,599$0$0$0
Loraine Park
Mgr, Learning and Impact$116,662$0$0$0$1,235$0$14,815$0$20,276$0$152,988$0$0$0
Jennifer E Zeisler
Sr Dir, Program Management$161,646$0$0$0$1,876$0$19,628$0$10,584$0$193,734$0$0$0

Supplemental Information Detail SupplementalInformationDetail (5 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
Schedule J, Part I, Line 1a Tax indemnification and gross-up paymentsCertain taxable benefits are grossed up to make the employee whole; this has been approved by the Board of Directors.
Schedule J, Part I, Line 3 Arrangement used to establish the top management official's compensationAs noted in Part VII of Form 990 and Schedule J, Part II, the only Executive Officer compensated by ECMC Foundation was the President, Peter J. Taylor. All other Executive Officers' compensation was paid by related organizations.
Schedule J, Part I, Line 4b Supplemental nonqualified retirement planECMC 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 2021, Jeremy J. Wheaton, Gregory A. Van Guilder, Daniel S. Fisher and Martin A. Scanlon participated in the 457(f) plan, and received employer contributions of $35,757, $14,209, $10,755 and $3,842, respectively, and Peter J. Taylor participated in the SERP plan, and received an employer contribution of $81,361.
Schedule J, Part I, Line 5b Compensation contingent on revenues of a related organizationAs noted in Part VII of Form 990 and Schedule J, Part II, the only executive officer compensated by ECMC Foundation was the President, Peter J. Taylor. All other executive officers' compensation was paid by related organizations. 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.
Schedule J, Part I, Line 6b Compensation contingent on net earnings of a related organizationAs noted in Part VII of Form 990 and Schedule J, Part II, the only executive officer compensated by ECMC Foundation was the President, Peter J. Taylor. All other executive officers' compensation was paid by related organizations. 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 (16 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
Form 990, Part III, Line 4d Description of other program services(Expenses $ 13,168,920 including grants of $ 9,571,350)(Revenue $ 670) Other programs. Miscellaneous programs and activities for the furtherance of educational opportunities through grants, awards and research on the management of educational debt.
Form 990, Part III, Line 4d Description of other program services(Expenses $ 1,000,000 including grants of $ 1,000,000)(Revenue $ 0) GO! Program. ECMC Foundation awards grants to the Generating Outcomes (GO!) Program, a corporate initiative to fund education innovation by funding ideas and partnerships that can be examined for effectiveness in the local communities of the ECMC Group, Inc. employees. To qualify for payment of a GO! Program grant, the awarded recipient must be a third-party nonprofit entity or a governmental partner, such as public schools, and expend the grant award for the purpose designated in the recipient's grant proposal. In 2021, ECMC Foundation awarded grants ranging from $5,000 to $20,000 each to 101 organizations for a total of $1 million.
Form 990, Part VI, Line 13 Whistleblower PolicyThe ECMC Group, Inc. Whistleblower Policy requires directors, officers and employees to observe high standards of business and personal ethics in the conduct of their duties and responsibilities. Employees and representatives of the Corporation are directed to practice honesty and integrity in fulfilling their responsibilities and comply with all applicable laws and regulations. The policy requires reporting of potential illegal practices or violations of corporate policies, and prohibits retaliation for good faith reporting of suspected violations under the policy. In addition, ECMC Group, Inc. has a Code of Ethics and Business Conduct Policy that is affirmed annually by all ECMC Group, Inc. and affiliated companies' officers and employees. There is a provision incorporated into the Code of Ethics and Business Conduct Policy that states there can be no retaliation against anyone acting in good faith when asking a question, reporting a concern or for participating in an investigation. ECMC Group, Inc. has established a telephone hotline and website administered by an outside vendor to report concerns, with an option to report anonymously. The hotline and website are available and accessible to ECMC Group, Inc. and affiliated companies' directors, officers, employees and vendors.
Form 990, Part VI, Line 2 Family/business relationships amongst interested personsMr. McKeon and Mr. Salter - Business relationship
Form 990, Part VI, Line 6 Classes of members or stockholdersECMC Foundation has one member. The member is ECMC Group, Inc. a Delaware, non-stock, nonprofit corporation exempt under section 501(c)(3). There are no stockholders.
Form 990, Part VI, Line 7a Members or stockholders electing members of governing bodyECMC Group, Inc. has the right to elect and/or approve all the directors of the ECMC Foundation Board of Directors.
Form 990, Part VI, Line 7b Decisions requiring approval by members or stockholdersECMC Group, Inc., the sole member of ECMC Foundation, retains the following authority over ECMC Foundation: 1. To authorize amendments to the Articles of Incorporation and Bylaws. 2. To approve the strategic and financial plans. 3. To elect and/or approve the members of the Board of Directors. 4. To oversee coordination of programs and services offered. 5. To authorize formation, governance and dissolution.
Form 990, Part VI, Line 11b Review of form 990 by governing bodyAll members of the Board of Directors and executive management 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, Line 12c Conflict of interest policyOfficers, directors and all employees 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 Chair. 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, Line 15a Process to establish compensation of top management officialAs noted in Part VII of Form 990 and Schedule J, Part II, the only executive officer compensated by ECMC Foundation was the President, Peter J. Taylor. All other executive officers' compensation was paid by related organizations. The Governance & Compensation Committee of the ECMC Group, Inc. Board of Directors is wholly comprised of independent, outside directors. In 2021, the Committee retained executive compensation experts from Grant Thornton, a global compensation consulting organization, 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 for Arnold & Porter Kaye Scholer LLP includes salary and incentive data from an appropriate peer group under IRS regulations and includes only nonprofit entities.
Form 990, Part VI, Line 15b Process to establish compensation of other employeesAs noted in Part VII of Form 990 and Schedule J, Part II, the only executive officer compensated by ECMC Foundation was the President, Peter J. Taylor. All other executive officers' compensation was paid by related organizations. The Governance & Compensation Committee of the ECMC Group, Inc. Board of Directors is wholly comprised of independent, outside directors. In 2021, the Committee retained executive compensation experts from Grant Thornton, a global compensation consulting organization, 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 for Arnold & Porter Kaye Scholer LLP includes salary and incentive data from an appropriate peer group under IRS regulations and includes only nonprofit entities.
Form 990, Part VI, Line 19 Required documents available to the publicThe Form 990 is made available to the public on ECMC Foundation's website. Documents are made available to the public as required by law.
Form 990, Part VII, Section A Directors' CompensationECMC Foundation Directors do not receive compensation for their service associated with ECMC Foundation, but do receive compensation for their service provided to related organizations--ECMC and ECMC Group, Inc. With the exception of the President, Peter J. Taylor, the executive officers of ECMC Foundation do not receive compensation for their service associated with ECMC Foundation, but do receive compensation for their service provided to related organizations--ECMC and ECMC Group, Inc. John F. DePodesta, Roberta Cooper Ramo and I. King Jordan, former Directors, had consulting agreements in 2021.
Form 990, Part X, Line 12 Investments-Other SecuritiesInvestments-other securities of $1,072,454,019 are held in the ECMC Group, Inc. Apportioned Investment Pool and $458,486 are invested in a fund outside of the Apportioned Investment Pool. Investments in ECMC Group, Inc. Apportioned Investment Pool represent an ownership interest in the investment pool managed by ECMC Group, Inc., not in the underlying assets themselves. The ownership interests in this pool are not themselves publicly traded, nor can they be valued based on direct or indirect inputs as defined by Financial Accounting Standards Board Accounting Standards Codification Topic 820. ECMC Foundation's investments consist of pooled funds invested with ECMC Group, Inc. that are generally redeemable upon request. The pooled investment is, under fair value hierarchy, a Level 2 investment. The investment strategy of ECMC Foundation is to diversify risk and provide a return that satisfies the short- and long-term objectives. The Apportioned Investment Pool has unfunded commitments of approximately $494,718,000 in alternative investments. ECMC Foundation has no unfunded commitments to the Apportioned Investment Pool at December 31, 2021.
Form 990, Part XI, Line 5 Net unrealized gain on investmentsNet unrealized gain on investment in the ECMC Group, Inc. Apportioned Investment Pool are $260,841,766.
Form 990, Part XI, Line 9 Other changes in net assets or fund balancesGrants awarded in a prior year and returned or refunded in 2021. The awards were correctly recorded in the prior years on ECMC Foundation's books. - 236092; Rounding adjustment because dollars are reported in thousands on the audited financial statements - -2110;

Schedule R IRS990ScheduleR

Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp (5 entries)

Address Line1USAddress/AddressLine1TxtAddress Line2USAddress/AddressLine2TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdEINEINPrimary ActivitiesPrimaryActivitiesTxtLegal Domicile StateLegalDomicileStateCdExempt Code SectionExemptCodeSectionTxtPublic Charity StatusPublicCharityStatusTxtBusiness Name Line1DirectControllingEntityName/BusinessNameLine1TxtControlled OrganizationControlledOrganizationInd
Educational Credit Management Corporation
111 Washington Ave SoSte 1400MinneapolisMN55401411778617GuarantorMN501(c)(3)10ECMC Group Incfalse
ECMC Group Inc
111 Washington Ave SoSte 1400MinneapolisMN55401411991995Education FinanceDE501(c)(3)Type IINAfalse
ECMC Education Inc
111 Washington Ave SoSte 1400MinneapolisMN55401472237488Career CollegesDE501(c)(3)2ECMC Group Incfalse
ECMC Revenue Management Corporation
111 Washington Ave SoSte 1400MinneapolisMN55401831761663Student Loan Default ResolutionDE501(c)(3)10Educational Credit Management Corporationfalse
ECMC Services Inc
111 Washington Ave SoSte 1400MinneapolisMN55401831763915Student Loan Repayment ServicesDE501(c)(3)10Educational Credit Management Corporationfalse

Id Related Org Txbl Partnership IdRelatedOrgTxblPartnershipGrp (19 entries)

Address Line1USAddress/AddressLine1TxtAddress Line2USAddress/AddressLine2TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdEINEINPrimary ActivitiesPrimaryActivitiesTxtLegal Domicile StateLegalDomicileStateCdBusiness Name Line1DirectControllingEntityName/BusinessNameLine1TxtPredominant Income TypePredominantIncomeTypeTxtDisproportionate AllocationsDisproportionateAllocationsIndGeneral Or Managing PartnerGeneralOrManagingPartnerIndLegal Domicile Foreign CountryLegalDomicileForeignCountryCd
ATX A-Team The Guild LP
500 W Second StSte 1900 153AustinTX78701843490066InvestmentsTXNAN/Afalsefalse
ATX Venture Partners IV LP
500 W Second StSte 1900 153AustinTX78701872760203InvestmentsDENAN/Afalsefalse
Aubrey Gems Partners LP
800 Third Ave28th FlNew YorkNY10022365009933InvestmentsNYNAN/Afalsefalse
BST 052 a series of SAX Capital Series Fund III LP
PO Box 3217SeattleWA98114853876811InvestmentsDENAN/Afalsefalse
CRP VF IV GP LP
7600 N Cap of TX HwyBldg B Ste 130AustinTX78731863644095InvestmentsDENAN/Afalsefalse
Capridge Partners Value Fund IV LP
7600 N Cap of TX HwyBldg B Ste 130AustinTX78731863617471InvestmentsDENAN/Afalsefalse
Chloe Capital Fund I LP
700 Cascadilla StSte 201IthacaNY14850844269068InvestmentsDENAN/Afalsefalse
Commonfund Capital Secondaries Opportunities Fund LP
15 Old Danbury RdWiltonCT06897842082338InvestmentsDENAN/Afalsefalse
ECMC-UV Co-Investment Fund LP
104 W 40th StSte 1600New YorkNY10018813873029InvestmentsDENAN/Afalsefalse
GEM Mining 4 LLC
550 S Main StSte 310GreenvilleSC29601871562792InvestmentsDENAN/Afalsefalse
1 North China A Equity Fund LLC
1 N Wacker DrChicagoIL60606844524632InvestmentsDENAN/Afalsefalse
OnRamp Education and Workforce Innovation Fund I LLC
821 E Washington AveSte 200-GMadisonWI53703843999115InvestmentsDENAN/Afalsefalse
PC-1 Developers LLC
3600 Mayberry DrRenoNV89509831603672InvestmentsNVNAN/Afalsefalse
R7 Family Fund LP
100 S Wacker DrSte 1675ChicagoIL60606851019413InvestmentsDENAN/Afalsefalse
RI Fund I a series of Boost VC SPV LP
PO Box 3217SeattleWA98114874641779InvestmentsNAN/AfalsefalseCJ
Tabor Offshore Opportunities Ltd
co Tabor Asset Management LP11 E 44th St Ste 705New YorkNY10017InvestmentsNAN/AfalsefalseCJ
UP Fund I a series of Boost VC SPV LP
PO Box 3217SeattleWA98114851519551InvestmentsDENAN/Afalsefalse
VVP Zipari Co-Investment LLC
2784 Homestead Rd375Santa ClaraCA95051850778306InvestmentsDENAN/Afalsefalse
WY Fund I a series of Boost VC SPV LP
PO Box 3217SeattleWA98114851519506InvestmentsDENAN/Afalsefalse

Id Related Org Txbl Corp Tr IdRelatedOrgTxblCorpTrGrp (8 entries)

Address Line1USAddress/AddressLine1TxtAddress Line2USAddress/AddressLine2TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdEINEINPrimary ActivitiesPrimaryActivitiesTxtLegal Domicile StateLegalDomicileStateCdBusiness Name Line1DirectControllingEntityName/BusinessNameLine1TxtEntity TypeEntityTypeTxtControlled OrganizationControlledOrganizationInd
Oakdale Investment Management Corporation
111 Washington Ave SoSte 1400MinneapolisMN55401352085743Holding InvestmentsDEECMC Group IncC Corporationfalse
ECMC Holdings Corporation
111 Washington Ave SoSte 1400MinneapolisMN55401411991992Strategic OversightDEECMC Group IncC Corporationfalse
Educational Credit Services Company
111 Washington Ave SoSte 1400MinneapolisMN55401411992001Private LoansDEECMC Holdings CorporationC Corporationfalse
ECMC Records & Rec Mgmt Corporation
111 Washington Ave SoSte 1400MinneapolisMN55401411989959Document ManagementDEECMC Holdings CorporationC Corporationfalse
ECMC Management Services Corporation
111 Washington Ave SoSte 1400MinneapolisMN55401411989960Management ServicesDEECMC Holdings CorporationC Corporationfalse
ECMC Technology Services Corporation
111 Washington Ave SoSte 1400MinneapolisMN55401411989958Technology ServicesDEECMC Holdings CorporationC Corporationfalse
ECMC Servicing Corporation
111 Washington Ave SoSte 1400MinneapolisMN55401471154366Loan ServicingDEECMC Holdings CorporationC Corporationfalse
ECMC Private Market Opportunities LP
156 W 56th StCityspire Bldg Squad 301New YorkNY10019842552668InvestmentsDEECMC Group IncC Corporationfalse
FieldValueIRS element (for citing)
Receipt Of Int Annts Rnts RyltsfalseReceiptOfIntAnntsRntsRyltsInd
Gift Grnt Or Cap Contri To Oth OrgYes (true)GiftGrntOrCapContriToOthOrgInd
Gift Grnt Cap Contri From Oth OrgYes (true)GiftGrntCapContriFromOthOrgInd
Loans Or Guarantees To Other OrgfalseLoansOrGuaranteesToOtherOrgInd
Loans Or Guarantees From Oth OrgfalseLoansOrGuaranteesFromOthOrgInd
Div Related OrganizationfalseDivRelatedOrganizationInd
Asset Sale To Other OrgfalseAssetSaleToOtherOrgInd
Asset Purchase From Other OrgfalseAssetPurchaseFromOtherOrgInd
Asset ExchangefalseAssetExchangeInd
Rental Of Facilities To Oth OrgfalseRentalOfFacilitiesToOthOrgInd
Rental Of Fclts From Oth OrgfalseRentalOfFcltsFromOthOrgInd
Perform Of Services For Oth OrgfalsePerformOfServicesForOthOrgInd
Perform Of Services By Other OrgfalsePerformOfServicesByOtherOrgInd
Sharing Of FacilitiesYes (true)SharingOfFacilitiesInd
Paid Employees SharingYes (true)PaidEmployeesSharingInd
Reimbursement Paid To Other OrgYes (true)ReimbursementPaidToOtherOrgInd
Reimbursement Paid By Other OrgfalseReimbursementPaidByOtherOrgInd
Transfer To Other OrgfalseTransferToOtherOrgInd
Transfer From Other OrgfalseTransferFromOtherOrgInd

Supplemental Information Detail SupplementalInformationDetail (10 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
Schedule R, Part V, Line 1n Sharing of Facilities, Equipment, or Other Assets with Related Org(s)$477,552 Allocated Expenses for Facilities, Equipment, Mailing Lists or Other Assets Shared with ECMC Group, Inc.
Schedule R, Part V, Line 1p Reimbursement Paid to Related Organization(s) for Expenses$461,789 Reimbursement Paid to ECMC Group, Inc. for Expenses.
Schedule R, Part I Disregarded Entities of Related Organizations1(a)-Name. Oakdale Student Loan Funding, LLC (27-1914648), 111 Washington Ave So, Ste 1400, Minneapolis, MN 55401. 1(b)-Primary activity. Holding FFELP Loans. 1(c)-Legal domicile. DE. 1(f)-Direct controlling entity. ECMC Group, Inc. 2(a)-Name. ECMC Shared Services Company, LLC (81-0690960), 111 Washington Ave So, Ste 1400, Minneapolis, MN 55401. 2(b)-Primary activity. Support Services Functions. 2(c)-Legal domicile. DE. 2(f)-Direct controlling entity. ECMC Group, Inc. 3(a)-Name. Patriot Student Loan Capital, LLC (81-3501777), 111 Washington Ave So, Ste 1400, Minneapolis, MN 55401. 3(b)-Primary activity. Trust Student Loans. 3(c)-Legal domicile. DE. 3(f)-Direct controlling entity. ECMC Group, Inc.
Schedule R, Part V, Line 1b Gift, Grant, or Capital Contribution to Related Organization(s)$2,000,000 grants awarded by ECMC Foundation to ECMC Education, Inc. for career readiness initiatives and programs, which further its mission to transform career and technical education to provide aspiring and current learners with skills to elevate their careers and communities.
Schedule R, Part V, Line 1o Sharing of Paid Employees with Related Organization(s)$617,005 Allocated Expenses for Paid Employees Shared with ECMC Shared Services Company, LLC, a Wholly Owned Subsidiary of ECMC Group, Inc., a Related Organization.
Schedule R, Part V, Line 1b Gift, Grant, or Capital Contribution to Related Organization(s)$1,910,000 grants awarded by ECMC Foundation to Educational Credit Management Corporation for College Success initiatives.
Schedule R, Part V, Line 1o Sharing of Paid Employees with Related Organization(s)$1,366,776 Allocated Expenses for Paid Employees Shared with ECMC Group, Inc.
Schedule R, Part V, Line 1c Gift, Grant, or Capital Contribution From Related Organization(s)$2,024,000 contribution from ECMC Group, Inc.
Schedule R, Part V, Line 1c Gift, Grant, or Capital Contribution From Related Organization(s)$44,819,000 contribution from Educational Credit Management Corporation.
Schedule R, Part V, Line 1b Gift, Grant, or Capital Contribution to Related Organization(s)$200,000 grant awarded to ECMC Group, Inc. for Education Innovation Ventures.