2019-08-29T11:20:48-05:00 2018-12-31 ERNST & YOUNG US LLP 155 N Wacker Drive Chicago IL 60606 990 2018-01-01 391090394 Ascendium Education Group Inc % HOPE MERRY GREA 6087332500 2501 International Lane Madison WI 53704 RICHARD GEORGE President & CEO 6087332500 2019-08-28 Jacob Zehnder P01564049 3128792000 164.57.159.254 36964520192415000001 2019-08-29 P 34163F381DEDE5EE0CABDD6E8F3BD042227F3C04 34163F381DEDE5EE0CABDD6E8F3BD042227F3C04 2018 2019-02-21 02:37:17Z RICHARD GEORGE 2501 International Lane Madison WI 53704 128796260 false X www.ASCENDIUMEDUCATION.ORG X 1967 WI SEE SCHEDULE O 9 8 82 0 0 12227 0 0 0 0 6216686 127955196 0 836183 6216686 128791379 0 6250 0 0 7332186 6441022 0 0 0 -5926875 -5454847 1405311 992425 4811375 127798954 894746030 1090091290 67157 3004395 894678873 1087086895 X ASCENDIUM EDUCATION GROUP, INC. OPERATES FOR THE SUPPORT AND BENEFIT OF ASCENDIUM EDUCATION SOLUTIONS, INC. (SOLUTIONS), NORTHSTAR GUARANTEE INC.(NORTHSTAR), UNITED STUDENT AID FUNDS, INC (USAF) AND NORTHWEST EDUCATION LOAN ASSOCIATION (NELA). THIS MISSION STATEMENT HAS BEEN REVIEWED, ACKNOWLEDGED AND APPROVED BY THE BOARD. false false 13962 ASCENDIUM EDUCATION GROUP, INC. OPERATES FOR THE SUPPORT AND BENEFIT OF ASCENDIUM EDUCATION SOLUTIONS, INC. (SOLUTIONS), NORTHSTAR GUARANTEE INC.(NORTHSTAR), UNITED STUDENT AID FUNDS, INC. (USAF) AND NORTHWEST EDUCATION LOAN ASSOCIATION (NELA). SOLUTIONS, NORTHSTAR, USAF AND NELA ENSURES ENABLEMENT OF ACCESS TO AND PERSISTENCE IN POST-SECONDARY EDUCATION BY PROVIDING PHILANTHROPIC SUPPORT AND COST EFFECTIVE GUARANTY AGENCY SERVICES AND LOWER COST OR OTHERWISE UNAVAILABLE FUNDING FOR FEDERALLY GUARANTEED LOANS TO STUDENTS AND PARENTS AND/OR ALTERNATION NON-FEDERALLY GUARANTEED LOANS. 13962 true false false false false false false false false false false true true true true false false true false false false false false false false false false false true true false false false false false false false true false false false false false true true true false false true 47 0 82 true true true false false false false false false false false false false false X 9 8 false false true false false false false true true false false true true true true true true true true false X HOPE MERRY 6087332584 2501 INTERNATIONAL LANE MADISON WI 53704 X Thomas Boldt 1 Director 3.0 0.0 X 21750 0 0 Emerson Brumback 1 Director 1.0 3.0 X 5917 11833 0 Mary Burke 1 Director 1.0 4.0 X 3550 14200 0 David J Hanson 1 Director/Secretary 1.0 4.0 X 0 0 0 Linda Hoesschler 1 Director 1.0 2.0 X 5917 11833 0 Alex Pollack 1 Director 1.0 2.0 X 5917 11833 0 Joan Prince 1 Director 1.0 2.0 X 5250 10500 0 Richard Weiss 1 Director 1.0 4.0 X 3550 14200 0 Richard D George 23 Chair/Pres/CEO/Treas 36.0 24.0 X X 846087 0 43243 Hope Merry 3 Chief Financial Officer 35.0 20.0 X 317206 0 33904 Jeffery Crosby 3 Chief Operating Officer 54.0 1.0 X 0 0 0 Rebecca Rapp 3 Gen Cnsl & Asst Secretary 30.0 20.0 X 262753 0 36782 Maureen Harrill 3 VP - Human Resources 25.0 25.0 X 67054 0 15524 Brian Kobishop 3 VP - IT/Security/Logistics 18.0 22.0 X 124576 0 12726 Jacqueline Fairbairn 3 VP - Policy / Regl Compliance 1.0 49.0 X 0 269789 53719 Dawn Vogel 3 Dir-Internal Audit til 2/1/18 50.0 0.0 X 85863 0 9386 Matt Harlowe 3 Mgr - Internal Audit 25.0 25.0 X 133853 0 16716 Stephanie Haferman 3 Sr Mgr - Corporate Accounting 34.0 0.0 X 109762 0 28165 Patricia Kingston 3 Sr Mgr - Corporate Tax 45.0 0.0 X 114762 0 12660 Jennifer Krueger 3 Associate Counsel 45.0 0.0 X 160201 0 23282 2273968 344188 286107 18 false true false Ernst Young US LLP 155 N Wacker Dr CHICAGO IL 60606 Audit/Tax Service 519201 Godfrey Kahn SC 833 E Michigan St MILWAUKEE WI 532025615 Legal Service 230169 Ballard Spahr LLP 1735 Market St PHILDELPHIA PA 191037507 Legal Service 157610 Morgan Stanley 2000 Westchester Ave PURCHASE NY 10577 Investment Service 137607 4 0 0 39196297 39196297 0 0 0 0 0 5456057 83307723 4881 5451176 83307723 88758899 88758899 0 0 0 0 0 0 0 0 0 TRANSITIONAL BONUS FROM SALE OF GLESLI 900099 835856 835856 MISCELLANEOUS REVENUE 327 327 836183 128791379 128791379 X 0 6250 6250 0 0 2630405 652659 1977746 0 3012704 893741 2118963 216917 184089 32828 377309 118222 259087 203687 70979 132708 0 1507972 1507972 615526 615526 0 0 939649 939649 181915 181915 2456 2456 443725 439003 4722 0 0 216025 64292 151733 66774 13684 53090 0 21945 3345 18600 0 0 3588 3588 621546 621546 SERVICE ARRANGEMENT FEES 22265793 22265793 DUES AND MEMBERSHIPS 11071 11071 CORP SUPP FUNCT ALLOCATION -32363088 -25519496 -6843592 MISCELLANEOUS 10256 825 9431 992425 13962 978463 0 X 1002 883 324572412 546655117 0 0 23464375 0 0 0 0 0 0 0 0 0 125000 62500 0 0 193926584 242204040 106466964 148483256 126697303 31731543 0 0 119492390 120953951 894746030 1090091290 62500 4395 0 0 0 0 0 0 0 0 0 0 0 0 0 0 4657 3000000 67157 3004395 X 894678873 1087086895 0 0 0 0 894678873 1087086895 894746030 1090091290 X 127798954 -11766180 76375248 X false true X true false X X 4 ASCENDIUM EDUCATION SOLUTIONS INC 391853833 10 true 13562463 0 NORTHSTAR GUARANTEE INC 411689095 10 true 48000 0 UNITED STUDENT AID FUNDS INC 946050341 10 true 15606018 0 NORTHWEST EDUCATION LOAN ASSOCIATION 911068278 10 true 1261077 0 4 30477558 true false false false true false false false false false false false false false false false true Schedule A, Part IV, lINE 5A - Information about supported Organizations (i) Ascednium Education Group, Inc. (GROUP) dissolved and merged two additional supported organizations to the Articles of Incorporation effective December 31, 2018: United Student Aid Funds, Inc. (94-6050341), and Northwest Education Loan Association (91-1068278). ii) The companies were added pursuant to a substitution of GROUP as sole member of United Student Aid Funds, Inc. and Northwest Education Loan Association. iii) The companies were added pursuant to the authority and provisions as set for in the GROUP bylaws. iv) The changes to the Articles of Incorporation were made by amendment, restatement, and adoption by unanimous consent of the Board of Directors. GSV FUND INVESTMENT 9657902 F RETHINK EDUCATION INVESTMENT 7056555 F BLACKROCK - INDEX FUND 66189330 F VANGUARD - INDEX FUND 65579469 F 148483256 LENDER FUNDING CONTRIB TRANSFR 118419274 ACCRUED INTEREST RECEIVABLE 2481078 INTERCOMPANY RECEIVABLE 53599 120953951 0 INTERCOMPANY PAYABLE 3000000 3000000 Schedule D, Part IX $118,419,274 Lender Funding Contribution Transfer The $118,419,274 represents the 2008-2010 Lender Funding Contribution Transfer to Northstar Guarantee Inc. (Related Entity). true EMPLOYEE DEPENDENT SCHOLARSHIP PROGRAM 5 6250 FORM 990, SCHEDULE I - PART I, LINE 2 DESCRIPTION OF ORGANIZATION'S PROCEDURES FOR MONITORING THE USE OF GRANTS IN THE UNITED STATES: Ascendium Group Inc. utilizes a thorough application process to provide scholarships to worthy students using the application pool of its employee's dependents. The scholarships are awarded to the students and paid on their behalf to the universities they attend. FORM 990, SCHEDULE I - PART III, LINE 1 THE EMPLOYEE DEPENDENT SCHOARSHIP PROGRAM IS TO TO BE APPLIED TOWARD THE COST OF TUITION. THE RECIPIENTS WERE DETERMINED BASED ON CRITERIA DEFINED BY THE PROGRAM AND NO INDIVIDUAL RECIPIENT RECEIVES MORE THAN $1,250 PER YEAR. X true true X X X X X false true false false false false false false false Richard D George 23 Chair/Pres/CEO/Treas 310408 0 532014 0 3665 0 16458 0 26785 0 889330 0 0 0 Hope Merry 3 Chief Financial Officer 158627 0 158271 0 308 0 10804 0 23100 0 351110 0 0 0 Rebecca Rapp 3 Gen Cnsl & Asst Secretary 124203 0 138276 0 274 0 12149 0 24633 0 299535 0 0 0 Jacqueline Fairbairn 3 VP - Policy / Regl Compliance 0 130432 0 138702 0 655 0 14535 0 39184 0 323508 0 0 Matt Harlowe 3 Mgr - Internal Audit 118827 0 14843 0 183 0 9225 0 7491 0 150569 0 0 0 Jennifer Krueger 3 Associate Counsel 127937 0 31996 0 268 0 7975 0 15307 0 183483 0 0 0 FORM 990, SCHEDULE J, PART I, LINE 1A RICHARD D. GEORGE, CHIEF EXECUTIVE OFFICER, RECEIVED A TAX GROSS-UP IN 2018, FOR YEAR TWO OF THE THREE YEAR INCENTIVE TO OFFSET TAX LIABILITIES ASSOCIATED WITH THE VESTING OF AN OPTION IT AWARD MADE IN 2004 THAT WAS ORIGINALLY INTENDED TO VEST POST RETIREMENT. THE BOARD OF DIRECTORS HAS REQUESTED THAT THE CEO DELAY RETIREMENT AND HAS OFFERED THIS TAX GROSS UP AS AN INVESTMENT TOWARDS THAT END. Great Lakes Educational Loan Svcs Subsidiary/Officer ovrlap 22265794 SERVICES AGREEMENT FEES false Great Lakes Educational Loan Svcs Subsidiary/Officer ovrlap 468573 Intercompany Reimb. to GLELSI false Great Lakes Educational Loan Svcs Subsidiary/Officer ovrlap 214320 Building Rent false Description of Transactions: Great Lakes Educational Loan Services, Inc. was a for-profit subsidiary of Ascendium Education Group, Inc. where Richard D. George served as the Chairman and Treasurer. He currently serves as President and CEO of Ascendium Education Group, Inc. Great Lakes Education Loan Services was sold February 1, 2018. FORM 990, Part I, Line 1 ASCENDIUM EDUCATION GROUP, INC. OPERATES FOR THE SUPPORT AND BENEFIT OF ASCENDIUM EDUCATION SOLUTIONS, INC. (SOLUTIONS), NORTHSTAR GUARANTEE INC.(NORTHSTAR), UNITED STUDENT AID FUNDS, INC (USAF) AND NORTHWEST EDUCATION LOAN ASSOCIATION (NELA). Part VI, Section A, Line 4 The articles of incorporation were revised to reflect the change in name from Great Lakes Higher Education Corporation to Ascendium Education Group, Inc.(ASCENDIUM). Additionally, All references were updated from Great Lakes Higher Education Guaranty Corporation to Ascendium Education Solutions, Inc., The principal office was modified to 2501 International Lane Madison, WI 53704, The registered agent was updated from Anton Ketterer to Patricia Kingston, and the address to the registered agent was updated to 2501 Internal lane, Madison, WI 53704. Ascendium revised Bylaws of the organization to reflect the change in name from Great Lakes Higher Education Corporation to Ascendium Education Group, Inc. Additionally, all references were updated from Great Lakes Higher Education Guaranty Corporation to Ascendium Education Solutions, Inc. and all references to Education Assistance Corporation were removed. Part VI, Question 11b On an annual basis, the Chairman of the Board, President and CEO, the audit committee and board reviews the Form 990 prior to filing. The conflicts of interest questionnaires are completed by each Director and reviewed prior to filing the Form 990. Part VI, Question 12c Annually, Directors and Officers sign a conflict of interest document which discloses any conflicts. The signed documents are reviewed annually by the Chairman of the Board. If a disclosed conflict occurs, the individual abstains from discussion and voting on topics where a conflict of interest exists. All Directors, Officers and employees are subject to the Human Resources Code of Ethics to maintain the highest ethical and legal standards of business conduct Part VI, Questions 15a & 15b The compensation of the CEO and all of the Officers is determined annually by the Personnel Policy Committee of the Board of Directors. The CEO is routinely excused and abstains from discussion and/or voting on any matters related to his own compensation and benefits. The Personnel Policy Committee's report is submitted to the Board of Directors for approval. The decisions are documented in the Board minutes. Every two to three years, an independent compensation study is performed. Part VI, Question 19 Federal tax law does not require that such documents be made publicly available. Documents are available upon specific request. Part VII, Section A, Line 1a (1) Directors normally attend 3-4 board meetings and 3-4 committee meetings per year in addition to telephonic conferences and individual meetings with officers. Directors devote an average of 1-3 hours per week to their position(s). (2) Compensation line includes compensation for general counsel services and affiliate group responsibilities. Inside directors are not eligible for Board compensation. (3) Non-operating officer position not separately compensated. Part XI, Line 9 ($164,731,471) - CHANGE IN INVESTMENT IN WHOLLY OWNED SUBSIDIARY - GREAT LAKES EDUCATIONAL LOAN SERVICES, INC. $5,048,500 - Investment in wholly owned subsidiary - Northstar Education Services, LLC. FORM 990 PART IX LINE 11G DESCRIPTION:RETIREMENT ADMINISTRATION TOTAL FEES:84706 FORM 990 PART IX LINE 11G DESCRIPTION:OTHER PROFESSIONAL SERVICES TOTAL FEES:97209 Ascendium Education Solutions Inc 2501 International Lane Madison WI 53704 391853833 Gty Stdnt Lns WI 501(C)(3) 10 GROUP true Northstar Guarantee Inc 2501 International Lane Madison WI 53704 411689095 Stdt Rehab Ln MN 501(C)(3) 10 GROUP true United Student Aid Funds Inc 2501 International Lane Madison WI 53704 946050341 Gty Stdnt Lns DE 501(C)(3) 10 GROUP true Northwest Education Loan Association 2501 International Lane Madison WI 53704 911068278 Stdnt Loans WA 501(C)(3) 10 GROUP true Great Lakes Educational Loan Svcs Inc 2401 International Lane Madison WI 53704 391864035 Stdnt Ln Svcs WI NA C corp 0 0 true Northstar Education Services LLC 2501 International Lane Madison WI 53704 352626495 Service WI GROUP C Corp -2338906 2826330 1.00000 true false false false false false false false false false false true true true false false true true false false Great Lakes Educational Loan Services Inc K 214320 FMV Great Lakes Educational Loan Services Inc M 22265794 ACTUAL COST Great Lakes Educational Loan Services Inc P 468573 ACTUAL COST Ascendium Education Solutions Inc L & Q 15103917 ACTUAL COST United Student Aid Funds Inc L & Q 15663518 ACTUAL COST Northwest Education Loan Association L & Q 1329383 ACTUAL COST Northstar Guarantee Inc L & Q 107264 ACTUAL COST