ECMC GROUP INC: Form 990, tax year 2019
View the entire original 990 at ProPublica ↗
- Organization
- ECMC GROUP INC (EIN 41-1991995)
- Tax period
- 2019-01-01 to 2019-12-31
- Filed
- 2020-11-12
- IRS object ID
- 202043179349309334
- Schema version
- 2019v5.0
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
- Return header
- Form 990
- Schedule A
- Schedule B
- Schedule C
- Schedule D
- Schedule F
- Schedule I
- Schedule J
- Schedule O
- Schedule R
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2020-11-12T18:30:59-06:00 | ReturnTs |
| Tax Period End | 2019-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 390859910 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Baker Tilly Virchow Krause LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 225 South 6th Street Suite 2300 | AddressLine1Txt |
| City | Minneapolis | CityNm |
| State Abbreviation | MN | StateAbbreviationCd |
| ZIP | 55402 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2019-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 411991995 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ECMC Group Inc | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | ECMC | BusinessNameControlTxt |
| Phone | 6512210566 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 111 Washington Ave So 1400 | AddressLine1Txt |
| City | Minneapolis | CityNm |
| State Abbreviation | MN | StateAbbreviationCd |
| ZIP | 55401 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | Martin A Scanlon | PersonNm |
| Person Title | CFO & Treasurer | PersonTitleTxt |
| Signature | 2020-11-12 | SignatureDt |
| Discuss With Paid Preparer | Yes (true) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | Lawrence H Mohr CPA | PreparerPersonNm |
| PTIN | P00447603 | PTIN |
| Phone | 6128764500 | PhoneNum |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2019 | TaxYr |
| Build TS | 2021-01-29 14:40:06Z | BuildTS |
Form 990 IRS990
Principal Ofcr Business Name PrincipalOfcrBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Jeremy J Wheaton | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 111 Washington Ave So 1400 | AddressLine1Txt |
| City | Minneapolis | CityNm |
| State Abbreviation | MN | StateAbbreviationCd |
| ZIP | 55401 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $630,918,053 | GrossReceiptsAmt |
| Group Return For Affiliates | false | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | www.ecmcgroup.org | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 2000 | FormationYr |
| Legal Domicile State | DE | LegalDomicileStateCd |
| Activity Or Mission | ECMC Group, Inc. supports Educational Credit Management Corporation and ECMC Education, Inc. (formerly Zenith Education Group, Inc.). ECMC Group, Inc. supports the furtherance of the exempt purpose of Educational Credit Management Corporation and ECMC Education, Inc. (formerly Zenith Education Group, Inc.) by providing services that help students recognize and realize their potential by investing in, creating and providing innovative education solutions that support schools and improve student educational outcomes. | ActivityOrMissionDesc |
| Voting Members Governing Body | 8 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 7 | VotingMembersIndependentCnt |
| Total Employee | 332 | TotalEmployeeCnt |
| Total Volunteers | 0 | TotalVolunteersCnt |
| Total Gross UBI | $3,541,117 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $85,594 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $231,500,000 | PYContributionsGrantsAmt |
| CY Contributions Grants | $202,597,584 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $96,720,581 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $105,417,773 | CYProgramServiceRevenueAmt |
| PY Investment Income | $57,005,273 | PYInvestmentIncomeAmt |
| CY Investment Income | $49,338,353 | CYInvestmentIncomeAmt |
| PY Other Revenue | $4,125,572 | PYOtherRevenueAmt |
| CY Other Revenue | $4,365,164 | CYOtherRevenueAmt |
| PY Total Revenue | $389,351,426 | PYTotalRevenueAmt |
| CY Total Revenue | $361,718,874 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $134,515,699 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $43,919,207 | CYGrantsAndSimilarPaidAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $19,596,348 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $19,310,836 | CYSalariesCompEmpBnftPaidAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $101,206,433 | PYOtherExpensesAmt |
| CY Other Expenses | $104,469,622 | CYOtherExpensesAmt |
| PY Total Expenses | $255,318,480 | PYTotalExpensesAmt |
| CY Total Expenses | $167,699,665 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $134,032,946 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $194,019,209 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $3,231,152,033 | TotalAssetsBOYAmt |
| Total Assets EOY | $3,744,530,742 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $2,549,969,674 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $2,897,699,267 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $681,182,359 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $846,831,475 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | The mission of ECMC Group, Inc. is to help students recognize and realize their potential by investing in, creating and providing innovative education solutions that support schools and improve student educational outcomes. | MissionDesc |
| Significant New Program Srvc | false | SignificantNewProgramSrvcInd |
| Significant Change | false | SignificantChangeInd |
| Expense | $77,622,358 | ExpenseAmt |
| Grant | $0 | GrantAmt |
| Revenue | $105,417,773 | RevenueAmt |
| Desc | Loan Portfolio Servicing: ECMC Group, Inc. and Oakdale Student Loan Funding, LLC (Oakdale), a wholly owned subsidiary of ECMC Group, Inc., have eligible lender trust (ELT) agreements with Manufacturers and Traders Trust Company. Manufacturers and Traders Trust Company serves as the ELT for ECMC Group, Inc. and Oakdale. Through the ELTs, ECMC Group, Inc. and Oakdale purchase Federal Family Education Loan Program (FFELP) rehabilitated student loans from Educational Credit Management Corporation, a related entity, and other guaranty agencies in order to ensure that student loan borrowers can realize the full benefits afforded them under 34 CFR sec. 682.405. Patriot Student Loan Capital, LLC (Patriot) has interim eligible lender trust agreements with Manufacturers and Traders Trust Company. ECMC Group Student Loan Trust 2016-1 (Trust 2016-1), ECMC Group Student Loan Trust 2017-1 (Trust 2017-1), ECMC Group Student Loan Trust 2017-2 (Trust 2017-2), ECMC Group Student Loan Trust 2018-1 (Trust 2018-1), ECMC Group Student Loan Trust 2018-2 (Trust 2018-2) and ECMC Group Student Loan Trust 2019-1 (Trust 2019-1), collectively (the Trusts), have eligible lender trust agreements with Manufacturers and Traders Trust Company. Manufacturers and Traders Trust Company serves as the interim eligible lender trust (interim ELT) for Patriot and as eligible lender trust (ELT) for Trust 2016-1, Trust 2017-1, Trust 2017-2, Trust 2018-1, Trust 2018-2 and Trust 2019-1. Through the interim ELT, Patriot purchases FFELP rehabilitated student loans from ECMC Group, Inc. and Oakdale and resells the loans through the ELT to the Trusts. The Trusts issued Class A notes secured by the respective student loan portfolios. Trust 2018-1 also issued Class B notes to ECMC Group, Inc. The Trust 2018-1 Class B notes are subordinated to the Trust 2018-1 Class A notes. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $43,500,000 | ExpenseAmt |
| Grant | $43,500,000 | GrantAmt |
| Revenue | $0 | RevenueAmt |
| Desc | ECMC Group, Inc. supports the furtherance of the exempt purpose of Educational Credit Management Corporation, ECMC Education, Inc. (formerly Zenith Education Group, Inc.), and ECMC Foundation by providing services that help students recognize and realize their potential by investing in, creating and providing innovative education solutions that support schools and improve student educational outcomes. $43,500,000 contributions made to ECMC Education, Inc. (formerly Zenith Education Group, Inc.) to support its mission to help students succeed in their pursuit of an educational experience that prepares them for the workforce. | Desc |
Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $627,856 | ExpenseAmt |
| Grant | $0 | GrantAmt |
| Revenue | $0 | RevenueAmt |
| Desc | Through the Public Policy Program, ECMC Group, Inc. shares information among ECMC Group-related members on legislative proposals and governmental regulations that impact their operations. The program enables ECMC Group, Inc. affiliates to monitor public policy matters and provide nonpartisan analysis and research to policymakers, thought leaders and the general public. | Desc |
Prog Srvc Accom Acty Other ProgSrvcAccomActyOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $419,207 | ExpenseAmt |
| Grant | $419,207 | GrantAmt |
| Revenue | $0 | RevenueAmt |
| Desc | Grants and sponsorships supplied by ECMC Group, Inc. to schools and individuals in support of its tax-exempt purpose. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Prog Srvc Expense | $419,207 | TotalOtherProgSrvcExpenseAmt |
| Total Other Prog Srvc Grant | $419,207 | TotalOtherProgSrvcGrantAmt |
| Total Program Service Expenses | $122,169,421 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (true) | DescribedInSection501c3Ind |
| Schedule B Required | Yes (true) | ScheduleBRequiredInd |
| Political Campaign Acty | false | PoliticalCampaignActyInd |
| Lobbying Activities | Yes (true) | LobbyingActivitiesInd |
| Donor Advised Fund | false | DonorAdvisedFundInd |
| Conservation Easements | false | ConservationEasementsInd |
| Collections Of Art | false | CollectionsOfArtInd |
| Credit Counseling | false | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | false | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (true) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | Yes (true) | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | Yes (true) | ReportProgramRelatedInvstInd |
| Report Other Assets | false | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (true) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (true) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | false | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (true) | ConsolidatedAuditFinclStmtInd |
| School Operating | false | SchoolOperatingInd |
| Foreign Office | false | ForeignOfficeInd |
| Foreign Activities | Yes (true) | ForeignActivitiesInd |
| More Than5000 K To Org | false | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | false | MoreThan5000KToIndividualsInd |
| Professional Fundraising | false | ProfessionalFundraisingInd |
| Fundraising Activities | false | FundraisingActivitiesInd |
| Gaming Activities | false | GamingActivitiesInd |
| Operate Hospital | false | OperateHospitalInd |
| Grants To Organizations | Yes (true) | GrantsToOrganizationsInd |
| Grants To Individuals | Yes (true) | GrantsToIndividualsInd |
| Schedule J Required | Yes (true) | ScheduleJRequiredInd |
| Tax Exempt Bonds | false | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | false | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | false | PYExcessBenefitTransInd |
| Loan Outstanding | false | LoanOutstandingInd |
| Grant To Related Person | false | GrantToRelatedPersonInd |
| Business Rln With Org Mem | false | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | false | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | false | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | false | DeductibleNonCashContriInd |
| Deductible Art Contribution | false | DeductibleArtContributionInd |
| Terminate Operations | false | TerminateOperationsInd |
| Partial Liquidation | false | PartialLiquidationInd |
| Disregarded Entity | Yes (true) | DisregardedEntityInd |
| Related Entity | Yes (true) | RelatedEntityInd |
| Related Organization Ctrl Ent | Yes (true) | RelatedOrganizationCtrlEntInd |
| Transaction With Control Ent | Yes (true) | TransactionWithControlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | false | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | false | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (true) | ScheduleORequiredInd |
| IRP Document | 75 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Employee | 332 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (true) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | Yes (true) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (true) | Form990TFiledInd |
| Foreign Financial Account | false | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | false | TaxablePartyNotificationInd |
| Nondeductible Contributions | false | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | false | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | false | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | false | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | false | PayPremiumsPrsnlBnftCntrctInd |
| Indoor Tanning Services | false | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | Yes (true) | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | false | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 8 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 7 | IndependentVotingMemberCnt |
| Family Or Business Rln | false | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | false | DelegationOfMgmtDutiesInd |
| Change To Org Documents | false | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | false | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (true) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (true) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | false | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (true) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (true) | MinutesOfCommitteesInd |
| Officer Mailing Address | false | OfficerMailingAddressInd |
| Local Chapters | false | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (true) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (true) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (true) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (true) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (true) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (true) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (true) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (true) | CompensationProcessOtherInd |
| Investment In Joint Venture | false | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | MN | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Martin A Scanlon | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 6512210566 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 111 Washington Ave So Ste 1400 | AddressLine1Txt |
| City | Minneapolis | CityNm |
| State Abbreviation | MN | StateAbbreviationCd |
| ZIP | 55401 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (38 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Key EmployeeKeyEmployeeInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd | Former Ofcr Director TrusteeFormerOfcrDirectorTrusteeInd |
|---|---|---|---|---|---|---|---|---|---|---|
| Jeremy J Wheaton | ||||||||||
| President & CEO | 40.0 | 0.0 | Yes (X) | Yes (X) | $1,070,579 | $0 | $109,874 | |||
| Diana J Ingram | ||||||||||
| Director | 7.0 | 3.0 | Yes (X) | $0 | $122,774 | $0 | ||||
| Jack O'Connell | ||||||||||
| Director | 6.0 | 4.0 | Yes (X) | $0 | $126,524 | $0 | ||||
| James V McKeon | ||||||||||
| Director | 11.0 | 4.0 | Yes (X) | $0 | $167,774 | $0 | ||||
| John F DePodesta | ||||||||||
| Board Chair | 13.0 | 4.0 | Yes (X) | $0 | $180,274 | $0 | ||||
| Julia S Gouw | ||||||||||
| Director | 4.0 | 3.0 | Yes (X) | $0 | $125,274 | $0 | ||||
| K Paul Singh | ||||||||||
| Director | 8.0 | 3.0 | Yes (X) | $0 | $127,774 | $0 | ||||
| Maurice M Salter | ||||||||||
| Director | 8.0 | 3.0 | Yes (X) | $0 | $140,274 | $0 | ||||
| Daniel S Fisher | ||||||||||
| General Counsel & Corporate Secretary | 40.0 | 0.0 | Yes (X) | $617,831 | $0 | $88,346 | ||||
| Gregory A Van Guilder | ||||||||||
| Chief Investment Officer | 40.0 | 0.0 | Yes (X) | $1,008,187 | $0 | $92,268 | ||||
| Martin A Scanlon | ||||||||||
| CFO & Treasurer | 40.0 | 0.0 | Yes (X) | $578,981 | $0 | $80,453 | ||||
| Adam Trampe | ||||||||||
| VP, Compliance and Enterprise Risk Management | 40.0 | 0 | $309,052 | $0 | $64,645 | Yes (X) | ||||
| Brian Boardman | ||||||||||
| VP, Deputy General Counsel & Assistant Corp Secretary | 40.0 | 0 | $303,245 | $0 | $73,613 | Yes (X) | ||||
| Harini Upadhyaya | ||||||||||
| VP, Applications and Analytics | 40.0 | 0 | $217,883 | $0 | $37,317 | Yes (X) | ||||
| Heidi J Johnson | ||||||||||
| SVP, Chief of Staff | 40.0 | 0 | $377,344 | $0 | $69,242 | Yes (X) | ||||
| Hugh E McSherry | ||||||||||
| VP, Corporate Services | 40.0 | 0 | $283,544 | $0 | $61,314 | Yes (X) | ||||
| Iris Cumberbatch | ||||||||||
| SVP, Corporate Affairs | 40.0 | 0 | $347,167 | $0 | $56,084 | Yes (X) | ||||
| John McKennell | ||||||||||
| VP, Chief Information Security Officer | 40.0 | 0 | $263,003 | $0 | $58,587 | Yes (X) | ||||
| Josh Slayton | ||||||||||
| SVP, Business Development, Research & Innovation | 40.0 | 0 | $340,629 | $0 | $68,144 | Yes (X) | ||||
| Matthew T Mikulski | ||||||||||
| VP, Internal Audit | 40.0 | 0 | $277,453 | $0 | $61,126 | Yes (X) | ||||
| Philip Becker | ||||||||||
| VP, Investments | 40.0 | 0 | $326,134 | $0 | $70,069 | Yes (X) | ||||
| Rahoul Ghose | ||||||||||
| Chief Information Officer | 40.0 | 0 | $362,155 | $0 | $74,010 | Yes (X) | ||||
| Sarah Strehl | ||||||||||
| Chief Human Resources Officer | 40.0 | 0 | $503,254 | $0 | $76,300 | Yes (X) | ||||
| Stephen H Hansen | ||||||||||
| VP, Information Technology | 40.0 | 0.0 | $303,194 | $0 | $35,689 | Yes (X) | ||||
| Tiffany Thompson | ||||||||||
| VP, Finance & Controller | 40.0 | 0 | $255,466 | $0 | $33,782 | Yes (X) | ||||
| Wendy Badger | ||||||||||
| VP, Corporate Compliance Officer | 40.0 | 0 | $289,086 | $0 | $34,504 | Yes (X) | ||||
| Aaron Woodrich | ||||||||||
| Sr Dir, Information Technology | 40.0 | 0 | $221,008 | $0 | $58,970 | Yes (X) | ||||
| Frederick Peguero | ||||||||||
| VP, Information Technology | 40.0 | 0 | $375,023 | $0 | $5,321 | Yes (X) | ||||
| Jeffrey S Jones | ||||||||||
| Dir, Enterprise Corporate Services | 40.0 | 0 | $227,454 | $0 | $37,081 | Yes (X) | ||||
| Joanne Wright | ||||||||||
| Dir, Call Center Development | 40.0 | 0 | $217,668 | $0 | $23,551 | Yes (X) | ||||
| Michael Bogie | ||||||||||
| VP, Solutions Delivery | 40.0 | 0 | $281,996 | $0 | $3,006 | Yes (X) | ||||
| David Goff | ||||||||||
| Former Chief Information Officer | 0.0 | 0 | $127,522 | $0 | $0 | Yes (X) | ||||
| I King Jordan | ||||||||||
| Former Director | 0.0 | 0.0 | $0 | $30,274 | $0 | Yes (X) | ||||
| Janice A Hines | ||||||||||
| President & CEO, ECMC | 0.0 | 40.0 | $0 | $724,849 | $80,740 | Yes (X) | ||||
| Joshua Susser | ||||||||||
| VP, Corporate Development & Strategic Planning | 0.0 | 0.0 | $107,500 | $0 | $0 | Yes (X) | ||||
| Peter J Taylor | ||||||||||
| Former Director, Current President & Director, ECMC Foundation | 0.0 | 40.0 | $0 | $738,224 | $126,935 | Yes (X) | ||||
| Richard J Boyle | ||||||||||
| Former Director/CEO/President | 0.0 | 0.0 | $0 | $16,362 | $0 | Yes (X) | ||||
| Roberta Cooper Ramo | ||||||||||
| Former Director | 0.0 | 0.0 | $0 | $75,274 | $0 | Yes (X) | ||||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $9,592,358 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $2,575,651 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $1,580,971 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 127 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | Yes (true) | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (true) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | false | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | Address Line2ContractorAddress/USAddress/AddressLine2Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|---|
| NAVIENT SOLUTIONS INC | ||||||
| 220 Lasley Ave | Hanover Industrial Estates | Wilkes Barre | PA | 18706 | Loan Portfolio Servicing | $4,041,484 |
| EMC Corporation | ||||||
| PO Box 790448 | St Louis | MO | 63179 | IT Professional Services | $3,725,981 | |
| Amazon Web Services Inc | ||||||
| PO Box 84023 | Seattle | WA | 98124 | IT Support Services | $1,836,217 | |
| Ahead LLC | ||||||
| 401 North Michigan Ave | 3400 | Chicago | IL | 60611 | IT Support Services | $1,491,276 |
| CDW | ||||||
| PO Box 75723 | Chicago | IL | 60675 | IT Support Services | $1,406,979 | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 50 | CntrctRcvdGreaterThan100KCnt |
| Related Organizations | $202,597,584 | RelatedOrganizationsAmt |
| Total Contributions | $202,597,584 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | Student Loan Portfolio | Desc |
| Business | 900099 | BusinessCd |
| Total Revenue Column | $105,417,773 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $105,417,773 | RelatedOrExemptFuncIncomeAmt |
Total Oth Program Service Rev TotalOthProgramServiceRevGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $105,417,773 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $8,672,036 | TotalRevenueColumnAmt |
| Unrelated Business Revenue | -$782,173 | UnrelatedBusinessRevenueAmt |
| Exclusion | $9,454,209 | ExclusionAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $0 | RealAmt |
| Personal | $0 | PersonalAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $306,222,716 | SecuritiesAmt |
| Other | $3,642,780 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $266,798,029 | SecuritiesAmt |
| Other | $2,401,150 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $39,424,687 | SecuritiesAmt |
| Other | $1,241,630 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $40,666,317 | TotalRevenueColumnAmt |
| Exclusion | $40,666,317 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt | ExclusionExclusionAmt |
|---|---|---|---|---|
| Servicing Fees on Trust Student Loans | 900099 | $4,323,290 | $4,323,290 | |
| Miscellaneous | 900099 | $23,394 | $23,394 | |
| Intercompany Servicing Revenue | 900099 | $18,480 | $18,480 |
Miscellaneous Revenue MiscellaneousRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $4,365,164 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $361,718,874 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $105,417,773 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $3,541,117 | UnrelatedBusinessRevenueAmt |
| Exclusion | $50,162,400 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $43,779,707 | TotalAmt |
| Program Services | $43,779,707 | ProgramServicesAmt |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $139,500 | TotalAmt |
| Program Services | $139,500 | ProgramServicesAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,949,804 | TotalAmt |
| Management And General | $3,949,804 | ManagementAndGeneralAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $13,004,735 | TotalAmt |
| Program Services | $1,247,378 | ProgramServicesAmt |
| Management And General | $11,757,357 | ManagementAndGeneralAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $485,556 | TotalAmt |
| Program Services | $24,923 | ProgramServicesAmt |
| Management And General | $460,633 | ManagementAndGeneralAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,170,486 | TotalAmt |
| Program Services | $13,847 | ProgramServicesAmt |
| Management And General | $1,156,639 | ManagementAndGeneralAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $700,255 | TotalAmt |
| Program Services | $29,826 | ProgramServicesAmt |
| Management And General | $670,429 | ManagementAndGeneralAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $748,254 | TotalAmt |
| Management And General | $748,254 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $416,808 | TotalAmt |
| Management And General | $416,808 | ManagementAndGeneralAmt |
Fees For Services Lobbying FeesForServicesLobbyingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $12,360 | TotalAmt |
| Management And General | $12,360 | ManagementAndGeneralAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $243,374 | TotalAmt |
| Program Services | $243,374 | ProgramServicesAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $10,130,668 | TotalAmt |
| Program Services | $5,886,455 | ProgramServicesAmt |
| Management And General | $4,244,213 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,346,998 | TotalAmt |
| Program Services | $32,970 | ProgramServicesAmt |
| Management And General | $1,314,028 | ManagementAndGeneralAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,093,237 | TotalAmt |
| Program Services | $47,507 | ProgramServicesAmt |
| Management And General | $5,045,730 | ManagementAndGeneralAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $763,373 | TotalAmt |
| Management And General | $763,373 | ManagementAndGeneralAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $474,788 | TotalAmt |
| Program Services | $85,753 | ProgramServicesAmt |
| Management And General | $389,035 | ManagementAndGeneralAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $323,107 | TotalAmt |
| Program Services | $154,155 | ProgramServicesAmt |
| Management And General | $168,952 | ManagementAndGeneralAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $67,468,567 | TotalAmt |
| Program Services | $65,541,692 | ProgramServicesAmt |
| Management And General | $1,926,875 | ManagementAndGeneralAmt |
Payments To Affiliates PaymentsToAffiliatesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,859,868 | TotalAmt |
| Program Services | $4,859,868 | ProgramServicesAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,189,988 | TotalAmt |
| Management And General | $1,189,988 | ManagementAndGeneralAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $154,344 | TotalAmt |
| Management And General | $154,344 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt |
|---|---|---|---|
| Unrelated Business Income Tax | $56,311 | $56,311 | |
| Loss on Subsidiaries | $4,149,990 | $4,149,990 | |
| Principal Loan Adjustment | $5,046,760 | $26,115 | $5,020,645 |
| Impairment | $1,441,547 | $1,441,547 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $549,280 | TotalAmt |
| Program Services | $40 | ProgramServicesAmt |
| Management And General | $549,240 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $167,699,665 | TotalAmt |
| Program Services | $122,169,421 | ProgramServicesAmt |
| Management And General | $45,530,244 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $43,842,850 | BOYAmt |
| EOY | $39,997,765 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $133,059,099 | BOYAmt |
| EOY | $120,537,467 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $451,016 | BOYAmt |
| EOY | $969,702 | EOYAmt |
Receivables From Officers Etc ReceivablesFromOfficersEtcGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Rcvbl From Disqualified Prsn RcvblFromDisqualifiedPrsnGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $45,800,000 | BOYAmt |
| EOY | $27,701,950 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,406,684 | BOYAmt |
| EOY | $2,159,977 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $26,010,243 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $13,419,764 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $19,343,736 | BOYAmt |
| EOY | $12,590,479 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $205,753,523 | BOYAmt |
| EOY | $149,995,180 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $918,242,307 | BOYAmt |
| EOY | $1,014,124,580 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,847,429,373 | BOYAmt |
| EOY | $2,366,349,490 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $10,823,445 | BOYAmt |
| EOY | $10,104,152 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,231,152,033 | BOYAmt |
| EOY | $3,744,530,742 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $14,780,008 | BOYAmt |
| EOY | $17,380,267 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,317,054 | BOYAmt |
| EOY | $2,004,631 | EOYAmt |
Loans From Officers Directors LoansFromOfficersDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $96,262,964 | BOYAmt |
| EOY | $424,967,469 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,437,609,648 | BOYAmt |
| EOY | $2,453,346,900 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,549,969,674 | BOYAmt |
| EOY | $2,897,699,267 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $681,182,359 | BOYAmt |
| EOY | $846,831,475 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $681,182,359 | BOYAmt |
| EOY | $846,831,475 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,231,152,033 | BOYAmt |
| EOY | $3,744,530,742 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $194,019,209 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | -$7,047,453 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | -$21,322,640 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | false | AccountantCompileOrReviewInd |
| FS Audited | Yes (true) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Consolidated Basis Fincl Stmt | Yes (X) | ConsolidatedBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (true) | AuditCommitteeInd |
| Federal Grant Audit Required | false | FederalGrantAuditRequiredInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Supporting Organization509a3 | Yes (X) | SupportingOrganization509a3Ind |
| Supporting Org Type2 | Yes (X) | SupportingOrgType2Ind |
| Supported Organizations | 2 | SupportedOrganizationsCnt |
Supported Org Information SupportedOrgInformationGrp (2 entries)
| EINEIN | Organization TypeOrganizationTypeCd | Governing Document ListedGoverningDocumentListedInd | SupportSupportAmt | Other SupportOtherSupportAmt |
|---|---|---|---|---|
| Educational Credit Mgmt Corp | ||||
| 411778617 | 9 | Yes (true) | $627,856 | $0 |
| ECMC Education Inc (formerly Zenith Education Group Inc) | ||||
| 472237488 | 2 | Yes (true) | $43,591,342 | $0 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Supported Organizations Total | 2 | SupportedOrganizationsTotalCnt |
| Support Sum | $44,219,198 | SupportSumAmt |
| Other Support Sum | $0 | OtherSupportSumAmt |
Form990 Sch A Supporting Org Form990SchASupportingOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Listed By Name Governing Doc | Yes (true) | ListedByNameGoverningDocInd |
| Suprt Org No IRS Determination | false | SuprtOrgNoIRSDeterminationInd |
| Supported Org Section C456 | false | SupportedOrgSectionC456Ind |
| Supported Org Not Organized US | false | SupportedOrgNotOrganizedUSInd |
| Organization Change Suprt Org | false | OrganizationChangeSuprtOrgInd |
| Support Non Supported Org | false | SupportNonSupportedOrgInd |
| Payment Substantial Contribtr | false | PaymentSubstantialContribtrInd |
| Loan Disqualified Person | false | LoanDisqualifiedPersonInd |
| Controlled Disqualified Prsn | false | ControlledDisqualifiedPrsnInd |
| Disqualified Prsn Controll Int | false | DisqualifiedPrsnControllIntInd |
| Disqualified Prsn Ownr Int | false | DisqualifiedPrsnOwnrIntInd |
| Excess Business Holdings Rules | false | ExcessBusinessHoldingsRulesInd |
| Contribution Controller | false | ContributionControllerInd |
| Contribution Family | false | ContributionFamilyInd |
| Contribution35 Controlled | false | Contribution35ControlledInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Majority Dir Trst Supported Org | Yes (true) | MajorityDirTrstSupportedOrgInd |
Form990 Schedule A Part VI Form990ScheduleAPartVIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Schedule A, Part I, Line 12b An Organization Organized to Perform and Provide | FormAndLineReferenceDesc |
| Explanation | ECMC Group, Inc., the supporting organization, retains the following authority over Educational Credit Management Corporation and ECMC Education, Inc. (formerly Zenith Education Group, Inc.), the supported organizations, and, therefore, has control over Educational Credit Management Corporation and ECMC Education, Inc. (formerly Zenith Education Group, Inc.): 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. | ExplanationTxt |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
Schedule C IRS990ScheduleC
| Field | Value | IRS element (for citing) |
|---|---|---|
| Volunteers | false | VolunteersInd |
| Paid Staff Or Management | false | PaidStaffOrManagementInd |
| Media Advertisements | false | MediaAdvertisementsInd |
| Mailings Members | false | MailingsMembersInd |
| Publications Or Broadcast | false | PublicationsOrBroadcastInd |
| Grants Other Organizations | false | GrantsOtherOrganizationsInd |
| Direct Contact Legislators | Yes (true) | DirectContactLegislatorsInd |
| Direct Contact Legislators | $12,360 | DirectContactLegislatorsAmt |
| Rallies Demonstrations | false | RalliesDemonstrationsInd |
| Other Activities | false | OtherActivitiesInd |
| Total Lobbying Expenditures | $12,360 | TotalLobbyingExpendituresAmt |
| Not Described Section501c3 | false | NotDescribedSection501c3Ind |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Schedule C, Part II-B, Line 1 DETAILED DESCRIPTION OF THE LOBBYING ACTIVITY | FormAndLineReferenceDesc |
| Explanation | General lobbying activities on legislative issues of relevance to ECMC Group, Inc. | ExplanationTxt |
Schedule D IRS990ScheduleD
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $14,646,739 | OtherCostOrOtherBasisAmt |
| Depreciation | $4,263,588 | DepreciationAmt |
| Book Value | $10,383,151 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $328,609 | OtherCostOrOtherBasisAmt |
| Depreciation | $231,410 | DepreciationAmt |
| Book Value | $97,199 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $11,034,895 | OtherCostOrOtherBasisAmt |
| Depreciation | $8,924,766 | DepreciationAmt |
| Book Value | $2,110,129 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $12,590,479 | TotalBookValueLandBuildingsAmt |
Other Securities OtherSecuritiesGrp (6 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| ECMC Holdings Corporation stock | ||
| Investment in ECMC Holdings Corporation | $11,755,409 | F |
| Investment in Oakdale Investment Management Corporation | $4,217,631 | F |
| Alternative Investments | $981,494,549 | F |
| Investment in ECMC Group Student Loan Trust 2018-1 Class B Notes | $14,587,527 | F |
| Investment in Performant Financial Corporation | $2,069,464 | F |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Securities | $1,014,124,580 | TotalBookValueSecuritiesAmt |
Invst Program Related Org InvstProgramRelatedOrgGrp (5 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| Student Loan Receivable-Held for Sale | $455,155,179 | F |
| Student Loan Receivable-Pledged | $1,855,729,504 | C |
| Mission-Related Investments | ||
| Direct Investments | $14,852,143 | F |
| Impact investments | $40,612,664 | F |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Program Rltd | $2,366,349,490 | TotalBookValueProgramRltdAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (16 entries)
| DescDesc | AmtAmt |
|---|---|
| Due to ECMC Holdings Corporation | |
| Foundation deposits in ECMC Group, Inc. Apportioned Investment Pool | $691,875,570 |
| Due to Educational Credit Management Corporation | |
| Due to Educational Credit Services Company | |
| Payable for unsettled investments | $403,073 |
| Secured Borrowings of ECMC Group Student Loan Trust 2016-1 | $219,158,013 |
| Secured Borrowings of ECMC Group Student Loan Trust 2017-1 | $271,758,264 |
| Secured Borrowings of ECMC Group Student Loan Trust 2017-2 | $341,032,104 |
| Secured Borrowings of ECMC Group Student Loan Trust 2018-1 | $352,066,216 |
| Secured Borrowings of ECMC Group Student Loan Trust 2018-2 | $268,879,339 |
| Amount payable to the Department of Education | $1,097,504 |
| Subordinated Borrowings of ECMC Group Student Loan Trust 2018-1 | $14,587,527 |
| Deferred Financing Fees | -$7,391,710 |
| Operating Lease | $3,004,070 |
| Deferred Grant Revenue from ECMC Foundation | |
| Secured Borrowings of ECMC Group Student Loan Trust 2019-1 | $296,876,930 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $2,453,346,900 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
Supplemental Information Detail SupplementalInformationDetail (10 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Schedule D, Part X, Line 1 Secured Borrowings of ECMC Group Student Loan Trust 2016-1 | $219,158,013 Floating Rate Class A Notes secured borrowing of ECMC Group Student Loan Trust 2016-1. ECMC Group Student Loan Trust 2016-1, a Delaware statutory trust, purchases student loans and accrued interest from Patriot Student Loan Capital, LLC and securitizes the assets with an issuance of debt. The securitization uses a two-step structure that legally isolates the transferred assets. These transactions are accounted for as an on-balance sheet secured borrowing. Patriot Student Loan Capital, LLC, a disregarded entity of ECMC Group, Inc., holds the primary beneficial interest in the trust. ECMC Group, Inc. is the primary beneficiary of the securitization trust and is required to consolidate the trust. |
| Schedule D, Part X, Line 1 Secured Borrowings of ECMC Group Student Loan Trust 2017-1 | $271,758,264 Floating Rate Class A Notes secured borrowing of ECMC Group Student Loan Trust 2017-1. ECMC Group Student Loan Trust 2017-1, a Delaware statutory trust, purchases student loans and accrued interest from Patriot Student Loan Capital, LLC and securitizes the assets with an issuance of debt. The securitization uses a two-step structure that legally isolates the transferred assets. These transactions are accounted for as an on-balance sheet secured borrowing. Patriot Student Loan Capital, LLC, a disregarded entity of ECMC Group, Inc., holds the primary beneficial interest in the trust. ECMC Group, Inc. is the primary beneficiary of the securitization trust and is required to consolidate the trust. |
| Schedule D, Part X, Line 1 Secured Borrowings of ECMC Group Student Loan Trust 2017-2 | $341,032,104 Floating Rate Class A Notes secured borrowing of ECMC Group Student Loan Trust 2017-2. ECMC Group Student Loan Trust 2017-2, a Delaware statutory trust, purchases student loans and accrued interest from Patriot Student Loan Capital, LLC and securitizes the assets with an issuance of debt. The securitization uses a two-step structure that legally isolates the transferred assets. These transactions are accounted for as an on-balance sheet secured borrowing. Patriot Student Loan Capital, LLC, a disregarded entity of ECMC Group, Inc., holds the primary beneficial interest in the trust. ECMC Group, Inc. is the primary beneficiary of the securitization trust and is required to consolidate the trust. |
| Schedule D, Part X, Line 1 Secured Borrowings of ECMC Group Student Loan Trust 2018-1 | $352,066,216 Floating Rate Class A Notes secured borrowing of ECMC Group Student Loan Trust 2018-1. ECMC Group Student Loan Trust 2018-1, a Delaware statutory trust, purchases student loans and accrued interest from Patriot Student Loan Capital, LLC and securitizes the assets with an issuance of debt. The securitization uses a two-step structure that legally isolates the transferred assets. These transactions are accounted for as an on-balance sheet secured borrowing. Patriot Student Loan Capital, LLC, a disregarded entity of ECMC Group, Inc., holds the primary beneficial interest in the trust. ECMC Group, Inc. is the primary beneficiary of the securitization trust and is required to consolidate the trust. |
| Schedule D, Part X, Line 1 Secured Borrowings of ECMC Group Student Loan Trust 2018-2 | $268,879,339 Floating Rate Class A Notes secured borrowing of ECMC Group Student Loan Trust 2018-2. ECMC Group Student Loan Trust 2018-2, a Delaware statutory trust, purchases student loans and accrued interest from Patriot Student Loan Capital, LLC and securitizes the assets with an issuance of debt. The securitization uses a two-step structure that legally isolates the transferred assets. These transactions are accounted for as an on-balance sheet secured borrowing. Patriot Student Loan Capital, LLC, a disregarded entity of ECMC Group, Inc., holds the primary beneficial interest in the trust. ECMC Group, Inc. is the primary beneficiary of the securitization trust and is required to consolidate the trust. |
| Schedule D, Part X, Line 1 Subordinated Borrowings of ECMC Group Student Loan Trust 2018-1 | $14,587,527 Floating rate Class B Notes, subordinated to the Secured Borrowings of ECMC Group Student Loan Trust 2018-1. The Class B Notes were transferred to ECMC Group, Inc. at the time of the closing. |
| Schedule D, Part VII Investment in Performant Financial Corporation | At December 31, 2019, ECMC Group, Inc. held an 11.7% beneficial ownership interest in the publicly traded stock of Performant Financial Corporation (PFMT). ECMC Group, Inc. was the record owner of 1,185,406 shares of PFMT common stock and warrants to purchase an aggregate of 5,794,990 shares of PFMT common stock that were currently exercisable or exercisable within 60 days. |
| Schedule D, Part X, Line 1 Secured Borrowings of ECMC Group Student Loan Trust 2019-1 | $296,876,930 Floating Rate Class A Notes secured borrowing of ECMC Group Student Loan Trust 2019-1. ECMC Group Student Loan Trust 2019-1, a Delaware statutory trust, purchases student loans and accrued interest from Patriot Student Loan Capital, LLC and securitizes the assets with an issuance of debt. The securitization uses a two-step structure that legally isolates the transferred assets. These transactions are accounted for as an on-balance sheet secured borrowing. Patriot Student Loan Capital, LLC, a disregarded entity of ECMC Group, Inc., holds the primary beneficial interest in the trust. ECMC Group, Inc. is the primary beneficiary of the securitization trust and is required to consolidate the trust. |
| Schedule D, Part X, Line 1 Foundation Deposits in ECMC Group, Inc. Apportioned Investment Pool | $691,875,570. At December 31, 2019, ECMC Foundation was a participant in the ECMC Group, Inc. Apportioned Investment Pool ("Apportioned Investment Pool"). A portion of ECMC Group, Inc.'s assets are held in the ECMC Group, Inc. Investment Portfolio Asset Pool which is managed by ECMC Group, Inc. Participation in the Apportioned Investment Pool is available to ECMC Group, Inc. and its eligible subsidiaries. Investments in the Apportioned Investment Pool represent an ownership interest in the investment pool, not in the underlying assets themselves, and are generally redeemable to the eligible subsidiary upon request. Unapportioned Investments, net, are not subject to participation by ECMC Group, Inc.'s subsidiaries. |
| Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote | The FIN 48 (ASC 470) disclosure in the ECMC Group, Inc. and Subsidiaries Consolidated Financial Statements reads as follows: "ECMC Group, ECMC, Zenith, and ECMC Foundation are nonprofit 501(c)(3) corporations and are exempt from federal and state income taxes. Holdings and its subsidiaries are taxable entities and account for deferred tax assets and liabilities under the liability method. Deferred tax liabilities are recognized for temporary differences that will result in taxable amounts in future years. Deferred tax assets are recognized for deductible temporary differences and tax operating loss and tax credit carry forwards. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. With few exceptions, Group is no longer subject to U.S. federal, state or local income tax examinations by tax authorities for the years before 2016. In the event of any current or future tax assessments, Holdings and its subsidiaries has elected to record the income taxes and any related interest and penalties as income tax expense on Group's consolidated statements of activities." |
Schedule F IRS990ScheduleF
Account Activities Outside US AccountActivitiesOutsideUSGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Region | Central America and the Caribbean | RegionTxt |
| Type Of Activities Conducted | Investments | TypeOfActivitiesConductedTxt |
| Region Total Expenditures | $430,855,665 | RegionTotalExpendituresAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Subtotal Offices | 0 | SubtotalOfficesCnt |
| Subtotal Employees | 0 | SubtotalEmployeesCnt |
| Continuation Total Office | 0 | ContinuationTotalOfficeCnt |
| Continuation Total Employee | 0 | ContinuationTotalEmployeeCnt |
| Total Office | 0 | TotalOfficeCnt |
| Total Employee | 0 | TotalEmployeeCnt |
| Subtotal Spent | $430,855,665 | SubtotalSpentAmt |
| Continuation Spent | $0 | ContinuationSpentAmt |
| Total Spent | $430,855,665 | TotalSpentAmt |
| Transfer To Foreign Corp | Yes (true) | TransferToForeignCorpInd |
| Interest In Foreign Trust | false | InterestInForeignTrustInd |
| Foreign Corp Ownership | false | ForeignCorpOwnershipInd |
| Passive Foreign Investmest Co | Yes (true) | PassiveForeignInvestmestCoInd |
| Foreign Partnership | Yes (true) | ForeignPartnershipInd |
| Boycott Countries | false | BoycottCountriesInd |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Schedule F, Part I, Line 3(f) Investments | FormAndLineReferenceDesc |
| Explanation | Investments are recorded on the trade date and substantially all investments are carried at fair value. Prior to January 1, 2019, investments classified as other investments were carried at lower of cost or fair value depending on investment type. Unrealized gains and losses and realized gains and losses, which are determined on the basis of the cost of the specific investments sold, are included in the change in net assets. Dividend income is recorded on the ex-dividend date. Interest income is accrued daily. Alternative Investments - Alternative investments are various hedge funds set up as limited partnerships chosen to support the investment objectives of ECMC Group, Inc. as outlined in the Investment Policy Statement of ECMC Group, Inc. Net asset valuations are provided quarterly by the limited partnerships. ECMC Group, Inc. uses September 30 as the cut-off date for booking investment income and unrealized gain/loss based on statements provided by each fund manager. During the period from September 30 to December 31, capital calls and redemptions are booked to reflect cash movements occurring during the last quarter of the year. Management establishes, reviews and evaluates macroeconomic market factors affecting the investment portfolio's unrealized gain/loss during the last quarter of the year. Management's recommendations on these fair value adjustments are presented to the investment committee for its approval and consideration of the investment fair value. The estimated fair values may differ significantly from the values that could be realized if a ready market existed for these investments, and these differences could be material. | ExplanationTxt |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (true) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable (10 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Recipient EINRecipientEIN | IRC SectionIRCSectionDesc | Cash GrantCashGrantAmt | Purpose Of GrantPurposeOfGrantTxt |
|---|---|---|---|---|---|---|---|
| ECMC Education Inc (formerly Zenith Education Group Inc) | |||||||
| 111 Washington Ave So | Minneapolis | NM | 55401 | 472237488 | 501(c)(3) | $43,500,000 | General Support |
| The Ohio State University Foundation | |||||||
| 1480 W Lane Ave | Columbus | OH | 43221 | 311145986 | 501(C)(3) | $100,000 | Edward H. Jennings Scholarship Fund |
| BestPrep | |||||||
| 7100 Northland Circle N | Brooklyn Park | MN | 55428 | 411265355 | 501(C)(3) | $25,885 | Program Support |
| Cristo Rey Corporate Internship | |||||||
| 2924 Fourth Ave So | Minneapolis | MN | 55408 | 204548714 | 501(C)(3) | $20,371 | Work Study Program Sponsorship |
| Junior Achievement of Georgia Inc | |||||||
| 275 Northside Dr NW | Atlanta | GA | 30314 | 580598050 | 501(C)(3) | $10,000 | Program Support |
| Junior Achievement of Sacramento Inc | |||||||
| 3800 Watt Ave | Sacramento | CA | 95821 | 946080866 | 501(C)(3) | $15,125 | Program Support |
| Junior Achievement of Southeast Texas | |||||||
| 2115 E Governors Circle | Houston | TX | 77092 | 741153957 | 501(C)(3) | $10,000 | Program Support |
| Junior Achievement of Southern California Inc | |||||||
| 6250 Forest Lawn Dr | Los Angeles | CA | 90068 | 951799192 | 501(C)(3) | $10,000 | Program Support |
| Junior Achievement of Tampa Bay Inc | |||||||
| 13707 N 22nd St | Tampa | FL | 33613 | 591098499 | 501(C)(3) | $10,000 | Program Support |
| Junior Achievement of the Upper Midwest Inc | |||||||
| 1745 University Ave W | St Paul | MN | 55104 | 411424988 | 501(C)(3) | $45,000 | Community Outreach Grant and Program Support |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 10 | Total501c3OrgCnt |
| Total Other Org | 0 | TotalOtherOrgCnt |
Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Type | Robert A. Stein Scholarship | GrantTypeTxt |
| Recipient | 41 | RecipientCnt |
| Cash Grant | $139,500 | CashGrantAmt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. | FormAndLineReferenceDesc |
| Explanation | ECMC Group, Inc. is the sole member of ECMC Foundation and ECMC Education, Inc. (formerly Zenith Education Group, Inc.) and closely monitors the use of the cash grant through reports to management and the Board of Directors on a regular basis. The Robert A. Stein Scholarships listed in Part III are issued as jointly payable to the student and the school to ensure the funds are used for educational expenses. The Individual Scholarships were awarded to further the individuals' education. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Idemnification Gross Up Pmts | Yes (X) | IdemnificationGrossUpPmtsInd |
| Written Policy Ref T And E Expnss | Yes (true) | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | Yes (true) | SubstantiationRequiredInd |
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | Yes (true) | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | Yes (true) | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | false | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | false | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | Yes (true) | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | false | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | Yes (true) | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | false | AnyNonFixedPaymentsInd |
| Initial Contract Exception | false | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (33 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Richard J Boyle | ||||||||||||||
| Former Director/CEO/President | $0 | $0 | $0 | $0 | $0 | $16,362 | $0 | $0 | $0 | $0 | $0 | $16,362 | $0 | $16,362 |
| Jeremy J Wheaton | ||||||||||||||
| President & CEO | $542,487 | $0 | $506,688 | $0 | $21,404 | $0 | $78,501 | $0 | $31,373 | $0 | $1,180,453 | $0 | $19,000 | $0 |
| Roberta Cooper Ramo | ||||||||||||||
| Former Director | $0 | $75,274 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $75,274 | $0 | $0 |
| I King Jordan | ||||||||||||||
| Former Director | $0 | $30,274 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $30,274 | $0 | $0 |
| Peter J Taylor | ||||||||||||||
| Former Director, Current President & Director, ECMC Foundation | $0 | $373,218 | $0 | $80,000 | $0 | $285,006 | $0 | $118,011 | $0 | $8,924 | $0 | $865,159 | $0 | $254,247 |
| John F DePodesta | ||||||||||||||
| Board Chair | $0 | $180,274 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $180,274 | $0 | $0 |
| James V McKeon | ||||||||||||||
| Director | $0 | $167,774 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $167,774 | $0 | $0 |
| Janice A Hines | ||||||||||||||
| President & CEO, ECMC | $0 | $404,536 | $0 | $280,000 | $0 | $40,313 | $0 | $58,200 | $0 | $22,540 | $0 | $805,589 | $0 | $24,373 |
| Joshua Susser | ||||||||||||||
| VP, Corporate Development & Strategic Planning | $0 | $0 | $0 | $0 | $107,500 | $0 | $0 | $0 | $0 | $0 | $107,500 | $0 | $0 | $0 |
| Daniel S Fisher | ||||||||||||||
| General Counsel & Corporate Secretary | $331,229 | $0 | $265,000 | $0 | $21,602 | $0 | $53,377 | $0 | $34,969 | $0 | $706,177 | $0 | $16,850 | $0 |
| Martin A Scanlon | ||||||||||||||
| CFO & Treasurer | $357,958 | $0 | $200,000 | $0 | $21,023 | $0 | $49,600 | $0 | $30,853 | $0 | $659,434 | $0 | $9,076 | $0 |
| Gregory A Van Guilder | ||||||||||||||
| Chief Investment Officer | $635,036 | $0 | $350,000 | $0 | $23,151 | $0 | $76,050 | $0 | $16,218 | $0 | $1,100,455 | $0 | $19,000 | $0 |
| David Goff | ||||||||||||||
| Former Chief Information Officer | $0 | $0 | $122,170 | $0 | $5,352 | $0 | $0 | $0 | $0 | $0 | $127,522 | $0 | $5,352 | $0 |
| Wendy Badger | ||||||||||||||
| VP, Corporate Compliance Officer | $192,096 | $0 | $75,557 | $0 | $21,433 | $0 | $14,279 | $0 | $20,225 | $0 | $323,590 | $0 | $0 | $0 |
| Philip Becker | ||||||||||||||
| VP, Investments | $263,484 | $0 | $62,000 | $0 | $650 | $0 | $35,320 | $0 | $34,749 | $0 | $396,203 | $0 | $0 | $0 |
| Brian Boardman | ||||||||||||||
| VP, Deputy General Counsel & Assistant Corp Secretary | $217,995 | $0 | $83,661 | $0 | $1,589 | $0 | $34,144 | $0 | $39,469 | $0 | $376,858 | $0 | $1,109 | $0 |
| Iris Cumberbatch | ||||||||||||||
| SVP, Corporate Affairs | $195,959 | $0 | $100,000 | $0 | $51,208 | $0 | $37,158 | $0 | $18,926 | $0 | $403,251 | $0 | $0 | $0 |
| Rahoul Ghose | ||||||||||||||
| Chief Information Officer | $288,723 | $0 | $70,000 | $0 | $3,432 | $0 | $39,000 | $0 | $35,010 | $0 | $436,165 | $0 | $0 | $0 |
| Stephen H Hansen | ||||||||||||||
| VP, Information Technology | $209,702 | $0 | $90,000 | $0 | $3,492 | $0 | $34,800 | $0 | $889 | $0 | $338,883 | $0 | $0 | $0 |
| Heidi J Johnson | ||||||||||||||
| SVP, Chief of Staff | $233,391 | $0 | $130,000 | $0 | $13,953 | $0 | $39,360 | $0 | $29,882 | $0 | $446,586 | $0 | $6,009 | $0 |
| John McKennell | ||||||||||||||
| VP, Chief Information Security Officer | $196,013 | $0 | $65,556 | $0 | $1,434 | $0 | $31,867 | $0 | $26,720 | $0 | $321,590 | $0 | $0 | $0 |
| Hugh E McSherry | ||||||||||||||
| VP, Corporate Services | $199,064 | $0 | $77,957 | $0 | $6,523 | $0 | $31,645 | $0 | $29,669 | $0 | $344,858 | $0 | $0 | $0 |
| Matthew T Mikulski | ||||||||||||||
| VP, Internal Audit | $195,240 | $0 | $80,556 | $0 | $1,657 | $0 | $33,633 | $0 | $27,493 | $0 | $338,579 | $0 | $0 | $0 |
| Josh Slayton | ||||||||||||||
| SVP, Business Development, Research & Innovation | $269,968 | $0 | $70,000 | $0 | $661 | $0 | $34,435 | $0 | $33,709 | $0 | $408,773 | $0 | $0 | $0 |
| Sarah Strehl | ||||||||||||||
| Chief Human Resources Officer | $312,927 | $0 | $171,000 | $0 | $19,327 | $0 | $44,860 | $0 | $31,440 | $0 | $579,554 | $0 | $0 | $0 |
| Tiffany Thompson | ||||||||||||||
| VP, Finance & Controller | $187,264 | $0 | $67,635 | $0 | $567 | $0 | $30,111 | $0 | $3,671 | $0 | $289,248 | $0 | $0 | $0 |
| Adam Trampe | ||||||||||||||
| VP, Compliance and Enterprise Risk Management | $191,862 | $0 | $114,421 | $0 | $2,769 | $0 | $33,926 | $0 | $30,719 | $0 | $373,697 | $0 | $0 | $0 |
| Harini Upadhyaya | ||||||||||||||
| VP, Applications and Analytics | $217,290 | $0 | $0 | $0 | $593 | $0 | $26,538 | $0 | $10,779 | $0 | $255,200 | $0 | $0 | $0 |
| Michael Bogie | ||||||||||||||
| VP, Solutions Delivery | $6,366 | $0 | $69,211 | $0 | $206,419 | $0 | $2,032 | $0 | $974 | $0 | $285,002 | $0 | $0 | $0 |
| Jeffrey S Jones | ||||||||||||||
| Dir, Enterprise Corporate Services | $160,672 | $0 | $64,966 | $0 | $1,816 | $0 | $27,255 | $0 | $9,826 | $0 | $264,535 | $0 | $0 | $0 |
| Frederick Peguero | ||||||||||||||
| VP, Information Technology | $14,461 | $0 | $141,684 | $0 | $218,878 | $0 | $1,770 | $0 | $3,551 | $0 | $380,344 | $0 | $0 | $0 |
| Aaron Woodrich | ||||||||||||||
| Sr Dir, Information Technology | $178,130 | $0 | $42,321 | $0 | $557 | $0 | $25,367 | $0 | $33,603 | $0 | $279,978 | $0 | $0 | $0 |
| Joanne Wright | ||||||||||||||
| Dir, Call Center Development | $100,245 | $0 | $25,144 | $0 | $92,279 | $0 | $7,711 | $0 | $15,840 | $0 | $241,219 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail (5 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Schedule J, Part I, Line 1a Tax indemnification and gross-up payments | Certain taxable benefits are grossed up to make the employee whole. This has been approved by the board of directors. |
| Schedule J, Part I, Line 4a Severance or change-of-control payment | The following received a severance payment in 2019: Frederick Peguero - $192,512 Michael Bogie - $175,412 Joshua Susser - $107,500 Joanne Wright - $90,739 |
| Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan | ECMC Group, Inc. maintains a supplemental nonqualified retirement plan described in section 457(f), and a Supplemental Employee Retirement Plan (SERP), to attract and retain employees, typically in management positions. In 2019, Jeremy J. Wheaton, Gregory A. Van Guilder, Daniel S. Fisher and Janice A. Hines participated in the 457(f) plan, and received employer contributions of $27,101, $22,950, $277 and $5,100, respectively, and Peter J. Taylor participated in the SERP plan, and received an employer contribution of $72,411. |
| Schedule J, Part I, Line 5b Compensation contingent on revenues of a related organization | 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 organization | 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 (14 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Form 990, Part III, Line 4d Description of other program services | (Expenses $ 419,207 including grants of $ 419,207)(Revenue $ 0) Grants and sponsorships supplied by ECMC Group, Inc. to schools and individuals in support of its tax-exempt purpose. |
| Form 990, Part VI, Line 13 Whistleblower Policy | 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. While there is not a specific whistleblower policy, there is a provision incorporated into the code of ethics and business conduct policy that binds all employees 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 an anonymous telephone hotline and website administered by an outside vendor to report concerns. The hotline and website are available and accessible to ECMC Group, Inc. directors, officers, employees and vendors. |
| Form 990, Part VI, Line 6 Classes of members or stockholders | Each Director of the ECMC Group, Inc.'s Board of Directors is a member of ECMC Group, Inc. At year end 2019, there were eight members of the Board of Directors and, therefore, eight members of the corporation. Membership terminates upon the termination of such member's director status on the Board of Directors. There are no stockholders. |
| Form 990, Part VI, Line 7a Members or stockholders electing members of governing body | The members of ECMC Group, Inc. Board of Directors are nominated by the Governance & Compensation Committee of the Board and elected by the Board of Directors. The Governance & Compensation Committee consists of such independent members appointed to it by the ECMC Group, Inc. Board of Directors. |
| Form 990, Part VI, Line 11b Review of form 990 by governing body | All members of the Board of Directors and executive management of ECMC Group, Inc. and its disregarded entities are provided a copy of Form 990 to review and provide comments prior to filing. All members of the Board of Directors and executive management are provided with a copy of the final version of Form 990 before it has been filed. |
| Form 990, Part VI, Line 12c Conflict of interest policy | Officers, Directors and all employees of ECMC Group, Inc. and ECMC Shared Services Company, LLC, a disregarded entity of ECMC Group, Inc., are required to reaffirm on an annual basis their understanding of the company's Conflict of Interest Policy. The affirmation specifically references that the individual will comply with the directives of the Conflict of Interest Policy. Officers, Directors and key employees are also required to complete an annual Form 990 relationship disclosure document to identify any potential conflicts of interest. Finally, the company's vendor procurement process includes questions of business unit contract owners to determine if any conflicts of interest may exist. Monitoring and enforcement of the policy are accomplished through the policy reaffirmation process, affirmative disclosure requests and the policy requirement that all conflicts of interest be reported. In cases where a potential conflict exists at the officer and key employee levels, the issue is disclosed to the ECMC Group, Inc. CEO, General Counsel, and/or Vice President, Deputy General Counsel. For potential or real conflicts involving Directors or officers, the disclosure is made to the Board Chair. The Director or officer will be required to excuse themselves from deliberation and voting on matters which they may have a conflict of interest. |
| Form 990, Part VI, Line 15a Process to establish compensation of top management official | The following describes the Educational Credit Management Corporation (ECMC), ECMC Education, Inc. (formerly Zenith Education Group, Inc.) and ECMC Group, Inc., including ECMC Shared Services Company, LLC, executive compensation methodology. The Governance & Compensation Committee of the ECMC Group, Inc. Board of Directors is wholly comprised of independent, outside directors. In 2019, the Committee retained executive compensation experts from Grant Thornton, a global compensation consulting organization, through Arnold & Porter LLP to identify appropriate CEO and senior executive compensation packages. Arnold & Porter LLP provided an opinion on the reasonableness of this compensation. The market analysis performed by Grant Thornton for Arnold & Porter LLP includes salary and incentive data from an appropriate peer group under IRS regulations and includes both nonprofit and for-profit entities. |
| Form 990, Part VI, Line 15b Process to establish compensation of other employees | The following describes the Educational Credit Management Corporation (ECMC), ECMC Education, Inc. (formerly Zenith Education Group, Inc.) and ECMC Group, Inc., including ECMC Shared Services Company, LLC, executive compensation methodology. The Governance & Compensation Committee of the ECMC Group, Inc. Board of Directors is wholly comprised of independent, outside directors. In 2019, the Committee retained executive compensation experts from Grant Thornton, a global compensation consulting organization, through Arnold & Porter LLP to identify appropriate CEO and senior executive compensation packages. Arnold & Porter LLP provided an opinion on the reasonableness of this compensation. The market analysis performed by Grant Thornton for Arnold & Porter LLP includes salary and incentive data from an appropriate peer group under IRS regulations and includes both nonprofit and for-profit entities. |
| Form 990, Part VI, Line 19 Required documents available to the public | No documents are made available to the public. |
| Form 990, Part VII, Section A Consulting | Roberta Cooper Ramo and I. King Jordan, former Directors, had consulting agreements in 2019. |
| Form 990, Part X, Line 25 Other Liabilities | Other liabilities at December 31, 2019, include $691,875,570 ECMC Foundation deposits in the ECMC Group, Inc. Apportioned Investment Pool ("Apportioned Investment Pool"). A portion of ECMC Group, Inc.'s assets are held in the ECMC Group, Inc. Investment Portfolio Asset Pool which is managed by ECMC Group, Inc. Participation in the Apportioned Investment Pool is available to ECMC Group, Inc. and its eligible subsidiaries. Investments in the Apportioned Investment Pool represent an ownership interest in the investment pool, not in the underlying assets themselves, and are generally redeemable to the eligible subsidiary upon request. Unapportioned Investments, net, are not subject to participation by ECMC Group, Inc.'s subsidiaries. |
| Form 990, Part XI, Line 5 Net unrealized loss on investments | Net unrealized loss on investment in the ECMC Group, Inc. Apportioned Investment Pool are $7,047,453. |
| Form 990, Part XI, Line 9 Other changes in net assets or fund balances | $21,322,640 Other Changes in Net Assets or Fund Balances. $32,865,351 Provision for Loss on Note Receivable. $11,542,711 Cumulative Net Unrealized Gain Adjustment at January 1, 2019, for the Initial Adoption of Accounting Standards Update (ASU) No. 2016-01, Financial Instruments-Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities, issued by the Financial Accounting Standards Board (FASB). This Initial Adoption Adjustment represents the difference in the carrying value and fair value of the Impact Investments and Other Direct Investments in the ECMC Group, Inc. Apportioned Investment Pool as of December 31, 2018. |
| Form 990, Part XI, Line 9 Other changes in net assets or fund balances | Provision for Loss on Note Receivable - -32865351; Adjustment for Initial Adoption of Accounting Standards Update (ASU) No. 2016-01 - 11542711; |
Schedule R IRS990ScheduleR
Id Disregarded Entities IdDisregardedEntitiesGrp (3 entries)
| Address Line1USAddress/AddressLine1Txt | Address Line2USAddress/AddressLine2Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Total IncomeTotalIncomeAmt | End Of Year AssetsEndOfYearAssetsAmt | Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt |
|---|---|---|---|---|---|---|---|---|---|---|
| Oakdale Student Loan Funding LLC | ||||||||||
| 111 Washington Ave So | Ste 1400 | Minneapolis | MN | 55401 | 271914648 | Holding FFELP Loans | DE | $63,474,896 | $601,407,032 | ECMC Group Inc |
| ECMC Shared Services Company LLC | ||||||||||
| 111 Washington Ave So | Ste 1400 | Minneapolis | MN | 55401 | 810690960 | Support Services Functions | DE | $1,000,000 | $23,986,566 | ECMC Group Inc |
| Patriot Student Loan Capital LLC | ||||||||||
| 111 Washington Ave So | Ste 1400 | Minneapolis | MN | 55401 | 813501777 | Trust Student Loans | DE | $18,440 | $88,692,163 | ECMC Group Inc |
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp (5 entries)
| Address Line1USAddress/AddressLine1Txt | Address Line2USAddress/AddressLine2Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Exempt Code SectionExemptCodeSectionTxt | Public Charity StatusPublicCharityStatusTxt | Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt | Controlled OrganizationControlledOrganizationInd |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Educational Credit Mgmt Corp | |||||||||||
| 111 Washington Ave So | Ste 1400 | Minneapolis | MN | 55401 | 411778617 | FFELP Guarantor | MN | 501(c)(3) | 10 | ECMC Group Inc | Yes (true) |
| ECMC Foundation | |||||||||||
| 111 Washington Ave So | Ste 1400 | Minneapolis | MN | 55401 | 411990628 | Promote Education | DE | 501(c)(3) | Type II | ECMC Group Inc | Yes (true) |
| ECMC Education Inc (formerly Zenith Education Group Inc) | |||||||||||
| 111 Washington Ave So | Ste 1400 | Minneapolis | MN | 55401 | 472237488 | Career Colleges | DE | 501(c)(3) | 2 | ECMC Group Inc | Yes (true) |
| ECMC Revenue Management Corporation | |||||||||||
| 111 Washington Ave So | Ste 1400 | Minneapolis | MN | 55401 | 831761663 | Student Loan Default Resolution | DE | 501(c)(3) | 10 | Educational Credit Management Corporation | false |
| ECMC Services Inc | |||||||||||
| 111 Washington Ave So | Ste 1400 | Minneapolis | MN | 55401 | 831763915 | Student Loan Repayment Services | DE | 501(c)(3) | 10 | Educational Credit Management Corporation | false |
Id Related Org Txbl Corp Tr IdRelatedOrgTxblCorpTrGrp (7 entries)
| Address Line1USAddress/AddressLine1Txt | Address Line2USAddress/AddressLine2Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt | Entity TypeEntityTypeTxt | Share Of Total IncomeShareOfTotalIncomeAmt | Share Of EOY AssetsShareOfEOYAssetsAmt | OwnershipOwnershipPct | Controlled OrganizationControlledOrganizationInd |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| OAKDALE INVESTMENT MANAGEMENT CORPORATION | |||||||||||||
| 111 Washington Ave So | Ste 1400 | Minneapolis | MN | 55401 | 461549752 | HOLDING INVESTMENTS | DE | ECMC GROUP INC | C Corporation | $1,830,172 | $4,330,966 | 1 | Yes (true) |
| ECMC HOLDINGS CORPORATION | |||||||||||||
| 111 Washington Ave So | Ste 1400 | Minneapolis | MN | 55401 | 411991992 | STRATEGIC OVERSIGHT | DE | ECMC GROUP INC | C Corporation | $2,382,093 | $11,803,853 | 1 | Yes (true) |
| EDUCATIONAL CREDIT SERVICES COMPANY | |||||||||||||
| 111 Washington Ave So | Ste 1400 | Minneapolis | MN | 55401 | 411992001 | PRIVATE LOANS | DE | NA | C Corporation | Yes (true) | |||
| ECMC RECORDS & REC MGMT CORPORATION | |||||||||||||
| 111 Washington Ave So | Ste 1400 | Minneapolis | MN | 55401 | 411989959 | DOCUMENT MANAGEMENT | DE | NA | C Corporation | Yes (true) | |||
| ECMC MANAGEMENT SERVICES CORPORATION | |||||||||||||
| 111 Washington Ave So | Ste 1400 | Minneapolis | MN | 55401 | 411989960 | MANAGEMENT SERVICES | DE | NA | C Corporation | Yes (true) | |||
| ECMC TECHNOLOGY SERVICES CORPORATION | |||||||||||||
| 111 Washington Ave So | Ste 1400 | Minneapolis | MN | 55401 | 411989958 | TECHNOLOGY SERVICES | DE | NA | C Corporation | Yes (true) | |||
| ECMC SERVICING CORPORATION | |||||||||||||
| 10370 PETER A MCCUEN BLVD | MATHER | CA | 95655 | 471154366 | LOAN SERVICING | DE | NA | C Corporation | Yes (true) | ||||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | false | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | Yes (true) | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | Yes (true) | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | Yes (true) | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | false | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | false | DivRelatedOrganizationInd |
| Asset Sale To Other Org | false | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | false | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | false | AssetExchangeInd |
| Rental Of Facilities To Oth Org | false | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | false | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | false | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | false | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | Yes (true) | SharingOfFacilitiesInd |
| Paid Employees Sharing | Yes (true) | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | Yes (true) | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | Yes (true) | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | false | TransferToOtherOrgInd |
| Transfer From Other Org | Yes (true) | TransferFromOtherOrgInd |
Transactions Related Org TransactionsRelatedOrgGrp (16 entries)
| Transaction TypeTransactionTypeTxt | InvolvedInvolvedAmt | Method Of Amount DeterminationMethodOfAmountDeterminationTxt |
|---|---|---|
| Educational Credit Management Corporation | ||
| C | $200,000,000 | Allocation |
| ECMC Education Inc (formerly Zenith Education Group Inc) | ||
| B | $43,500,000 | Allocation |
| ECMC Foundation | ||
| C | $2,597,584 | Grant |
| ECMC Education Inc (formerly Zenith Education Group Inc) | ||
| D | $150,000 | Letter of Credit Contingent Liability |
| ECMC Education Inc (formerly Zenith Education Group Inc) | ||
| D | $92,228,000 | Non-cancelable operating leases guaranteed |
| ECMC Education Inc (formerly Zenith Education Group Inc) | ||
| D | $30,000,000 | Commitment to provide financial support projected to cover cash flow needs through March 31, 2021 |
| Educational Credit Management Corporation | ||
| N | $8,127,142 | Allocation |
| Educational Credit Management Corporation | ||
| O | $38,525,443 | Allocation |
| Educational Credit Management Corporation | ||
| P | $2,038,784 | Allocation |
| ECMC Foundation | ||
| N | $605,652 | Allocation |
| ECMC Foundation | ||
| O | $483,233 | Allocation |
| ECMC Foundation | ||
| Q | $430,861 | Allocation |
| ECMC Education Inc (formerly Zenith Education Group Inc) | ||
| N | $91,342 | Allocation |
| ECMC Education Inc (formerly Zenith Education Group Inc) | ||
| Q | $4,258,138 | Allocation |
| ECMC Holdings Corporation | ||
| Q | $83,466 | Allocation |
| ECMC Holdings Corporation | ||
| S | $403,073 | Cost |