2018-11-13T19:01:12-06:00 2017-12-31 390859910 Baker Tilly Virchow Krause LLP 225 South 6th Street Suite 2300 Minneapolis MN 55402 990 2017-01-01 411991995 ECMC Group Inc ECMC 6512210566 111 Washington Ave So 1400 Minneapolis MN 55401 Martin A Scanlon CFO 2018-11-13 true Lawrence H Mohr CPA P00447603 6128764500 2017 2019-02-21 02:37:17Z Jeremy J Wheaton 111 Washington Ave So 1400 Minneapolis MN 55401 559514642 false X www.ecmcgroup.org X 2000 DE ECMC Group, Inc. supports Educational Credit Management Corporation and Zenith Education Group, Inc. ECMC Group, Inc. supports the furtherance of the exempt purpose of Educational Credit Management Corporation and 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. 9 8 474 0 2493091 -283347 255000000 308000000 23715371 56812038 19151402 40663426 3300354 3001912 301167127 408477376 752969912 145399500 0 11761807 19595645 0 0 24031123 54538733 788762842 219533878 -487595715 188943498 1873481757 2970759498 1490275394 2373065342 383206363 597694156 X 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. false false 145000000 145000000 0 ECMC Group, Inc. supports the furtherance of the exempt purpose of Educational Credit Management Corporation, 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. $145,000,000 contributions made to 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. 36993414 0 56812038 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 US Bank National Association and Manufacturers and Traders Trust Company, respectively. US Bank National Association and Manufacturers and Traders Trust Company serves as the ELT for ECMC Group, Inc. and Oakdale, respectively. 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) and ECMC Group Student Loan Trust 2017-2 (Trust 2017-2), 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 and Trust 2017-2. Through the interim ELT, Patriot purchases 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, and resells the loans through the ELT to the Trusts. The Trusts issue debt securities secured by the respective student loan portfolios. 399500 399500 0 Grants and sponsorships supplied by ECMC Group, Inc. to schools and individuals in support of its tax-exempt purpose. 243176 0 0 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. 243176 182636090 true true false false false false false false false false true true true false true true false true false false true false false false false false false true true true false false false false false false false true false false false false true true true true false false true 99 0 474 true true true false false false false false true false false false X 9 8 false false false false true true false true true false false true true true true true true true true false MN X Martin A Scanlon 6512210566 111 Washington Ave So Ste 1400 Minneapolis MN 55401 Jeremy J Wheaton President & CEO 40.0 0.0 X X 363102 0 36780 John F DePodesta Board Chair 14.0 6.0 X 0 183000 0 ROBERTA COOPER RAMO Director 8.0 6.0 X 0 138000 0 Julia Gouw Director 3.0 4.0 X 0 123000 0 I King Jordan Director 3.0 4.0 X 0 110000 0 James V McKeon Director 9.0 5.0 X 0 160000 0 Jack O'Connell Director 5.0 4.0 X 0 117500 0 Maurice M Salter Director 6.0 4.0 X 0 140000 0 K Paul Singh Director 4.0 4.0 X 0 101250 0 Daniel S Fisher General Counsel/Corp Secretary 40.0 0.0 X 387888 0 68090 Gregory A Van Guilder Chief Financial Officer 40.0 0.0 X 606861 0 81152 Stephen H Hansen VP Information Technology 40.0 0.0 X 243005 0 29811 Heidi J Johnson VP Enterprise Risk Management & Strategic Initiatives 40.0 0.0 X 281260 0 61766 Kathleen M King VP Finance & Controller 40.0 0.0 X 293405 0 54722 Hugh E McSherry VP Corporate Services 40.0 0.0 X 274880 0 55900 Matthew T Mikulski VP Internal Audit 40.0 0.0 X 234234 0 49301 Martin A Scanlon SVP Finance & CFO, ECMC 0.0 40.0 X 0 400852 68161 Michael Bogie VP IT Solutions Delivery 40.0 0 X 230641 0 53686 Andrew Fesler VP Total Rewards & HR Operations 40.0 0 X 297241 0 58913 David Goff Chief Information Officer 40.0 0 X 384733 0 58276 John McKennell Chief Information Security Officer 40.0 0 X 211706 0 51671 Sarah Strehl Chief Human Resources Officer 40.0 0 X 444124 0 70684 Joshua Susser VP Corporate Development & Strategic Planning 40.0 0.0 X 237040 0 56793 Iris Cumberbatch VP Corporate Affairs 40.0 0 X 292420 0 32076 Joseph Ezra VP Finance 40.0 0 X 323032 0 18726 Ryan Fullmer VP Finance 40.0 0 X 308043 0 18379 Frederick Peguero VP Information Technology 40.0 0 X 302231 0 59779 Adam Trampe VP Compliance Zenith 40.0 0 X 221104 0 53096 Robert Kenyon SVP & Chief Accounting Officer 40.0 0.0 X 371224 0 28622 James G Gilbertson ECMCSS SVP Finance 40.0 0.0 X 323669 0 45542 Wendy Badger Corporate Compliance Officer 40.0 0 X 229644 0 47012 Brian Boardman VP Deputy General Counsel 40.0 0 X 329680 0 57305 Tara Belair Sr Dir Human Resources & Talent 40.0 0 X 203672 0 49282 Robert Patton Enterprise Application Architecture Director 40.0 0 X 201135 0 49066 Kelley Pufpaff Dir HR Operations 40.0 0 X 289825 0 50085 Arnold Singer Sr Dir Information Technology 40.0 0 X 197751 0 51186 Tiffany Thompson Dir Finance - Accounts Payable & Treasury 40.0 0 X 202262 0 26008 Janice A Hines Chief Relationship Officer 0.0 40.0 X 0 665425 78288 Heather M Renner Government Affairs Director 40.0 0.0 X 202075 0 41101 Richard J Boyle Former DIRECTOR/CEO/PRESIDENT 0.0 0.0 X 0 15946 0 Peter J Taylor Former Director, Current Foundation President & Director 0.0 40.0 X 0 564927 96886 Robert A Stein Former Director 0.0 0.0 X 0 60000 0 8487887 2779900 1658145 147 true true false GARDNER BUILDERS 730 SECOND AVE S Ste 1233 MINNEAPOLIS MN 55402 Professional Services 20180686 NAVIENT SOLUTIONS INC PO BOX 8003 FISHERS IN 46038 Loan Portfolio Servicing 2700873 WORKDAY INC 6230 STONERIDGE MALL RD PLEASANTON CA 94588 Consulting Services 1943635 CAMPUS MANAGEMENT CORP 5201 CONGRESS AVE BOCA RATON FL 33487 IT Professional Services 1382150 MERCER INC PO BOX 730212 DALLAS TX 753730212 Consulting Services 1125400 40 308000000 308000000 Student Loan Portfolio 900099 56812038 56812038 0 0 0 0 56812038 5239925 -479376 5719301 0 0 186460767 0 150088270 948996 36372497 -948996 35423501 35423501 Servicing Fees on Trust Student Loans 900099 2972467 2972467 Miscellaneous 900099 29445 29445 0 0 0 0 3001912 408477376 56812038 2493091 41172247 145252000 145252000 147500 147500 1543872 1543872 14213295 5552866 8660429 974381 166672 807709 2083529 512593 1570936 780568 249486 531082 1205355 960347 245008 404372 404372 563778 563778 15408817 3611820 11796997 0 -1042137 -1066899 24762 2689323 1155541 1533782 153350 153350 477427 126023 351404 224944 56064 168880 28746258 25293585 3452673 1012739 36599 976140 334525 334525 Income Tax Expense 1182 1182 Loss on Subsidiaries 4519250 4519250 -160450 16933 -177383 0 219533878 182636090 36897788 0 56886709 28824321 88635277 144299580 1391245 644572 0 0 0 0 0 44000000 11433138 7546059 38678097 14583984 28485544 24094113 246057659 247733761 577689373 790234677 855286040 1659539617 643743 140102 6973029 23702696 1873481757 2970759498 15708921 16059755 1046128 1235404 0 0 488377943 519670534 985142402 1836099649 1490275394 2373065342 X 383206363 597694156 383206363 597694156 1873481757 2970759498 188943498 25544295 0 X false true X true false X X 2 EDUCATIONAL CREDIT MGMT CORP 411778617 9 true 243176 0 Zenith Education Group Inc 472237488 2 true 145000000 0 2 145243176 0 true false false false false false false false false false false false false false false true Schedule A, Part I, Line 12b AN ORGANIZATION ORGANIZED TO PERFORM AND PROVIDE ECMC GROUP, INC., THE SUPPORTING ORGANIZATION, RETAINS THE FOLLOWING AUTHORITY OVER EDUCATIONAL CREDIT MANAGEMENT CORPORATION and Zenith Education Group, Inc., THE SUPPORTED ORGANIZATIONs, AND, THEREFORE, HAS CONTROL OVER EDUCATIONAL CREDIT MANAGEMENT CORPORATION and 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. 14608739 1793793 12814946 150848 101115 49733 23918510 12689076 11229434 24094113 ECMC Holdings Corporation stock Investment in ECMC Holdings Corporation 33454031 F Investment in Oakdale Investment Management Corporation 2499719 F Alternative Investments 754280927 F 790234677 Student Loan Receivable-Held for Sale 500813783 F Student Loan Receivable-Pledged 1136180802 C Mission-Related Direct Investments 22545032 C 1659539617 Due to Federal Services Bureau Due to ECMC Foundation Due to ECMC Holdings Corporation 2447 Due to Educational Credit Management Corporation Foundation deposits in Group Investment Pool 733787031 Due to Educational Credit Services Company 500 Reserve for future defaults Payable for unsettled trades Due to Zenith Education Group, Inc. Secured Borrowings of ECMC Group Student Loan Trust 2016-1 280641297 Secured Borrowings of ECMC Group Student Loan Trust 2017-1 368873407 Secured Borrowings of ECMC Group Student Loan Trust 2017-2 455831527 Amount payable to the Department of Education 1112205 Deferred Financing Fees -4148765 1836099649 X Schedule D, Part X, Line 1 Secured Borrowings of ECMC Group Student Loan Trust 2016-1 $280,641,297 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 $368,873,407 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 $455,831,527 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 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, Holdings and its subsidiaries are no longer subject to U.S. federal, state or local income tax examinations by tax authorities for the years before 2014. In the event of any current or future tax assessments, Group has elected to record the income taxes and any related interest and penalties as income tax expense on the consolidated statements of activities." Central America and the Caribbean Investments 395121444 0 0 0 0 0 0 395121444 0 395121444 true false false true true false Schedule F, Part I, Line 3(f) INVESTMENTS INVESTMENTS ARE RECORDED ON THE TRADE DATE AND ARE CARRIED AT FAIR VALUE. UNREALIZED GAINS AND LOSSES AND REALIZED GAINS AND LOSSES, DETERMINED ON THE BASIS OF THE COST OF THE SPECIFIC SECURITIES SOLD, ARE INCLUDED IN THE CHANGE IN THE 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 WITH THE INVESTMENT GOAL OF A "FIXED INCOME" AND "GROWTH ASSET" PORTFOLIO. GROUP USES AUDITED FINANCIAL STATEMENTS FOR EACH LIMITED PARTNERSHIP AS A PRACTICAL EXPEDIENT TO ESTIMATE FAIR VALUE. INVESTMENTS HELD BY THE LIMITED PARTNERSHIPS ARE VALUED AT PRICES WHICH APPROXIMATE 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. NET ASSET VALUATIONS ARE PROVIDED QUARTERLY BY THE LIMITED PARTNERSHIPS. true ZENITH EDUCATION GROUP INC 111 Washington Ave So Minneapolis MN 55401 472237488 501(C)(3) 145000000 General Support MINNESOTA COMMUNITY FOUNDATION 101 5th St E St Paul MN 55101 410832480 501(C)(3) 52000 General Support BESTPREP 7100 Northland Circle N Brooklyn Park MN 55428 411265355 501(C)(3) 20000 Community Outreach Grant JUNIOR ACHIEVEMENT OF THE UPPER MIDWEST INC 1800 White Bear Ave N White Bear Lake MN 55109 411424988 501(C)(3) 20000 Program Support JUNIOR ACHIEVEMENT OF SOUTHERN CALIFORNIA INC 6250 Forest Lawn Drive Los Angeles CA 90068 951799192 501(C)(3) 15000 Grant JUNIOR ACHIEVEMENT OF SACRAMENTO INC PO Box 255602 Sacramento CA 95865 946080866 501(C)(3) 25000 Community Outreach Grant JUNIOR ACHIEVEMENT OF TAMPA BAY INC 13707 N 22nd Street Tampa FL 33613 591098499 501(C)(3) 20000 Community Outreach Grant ALBUQUERQUE ACADEMY 64000 Wyoming Blvd NE Albuquerque NM 871093899 850129165 501(C)(3) 100000 Program Support 8 0 ROBERT A. STEIN SCHOLARSHIP 53 147500 Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. ECMC Group, Inc. is the sole member of ECMC Foundation and 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. X true true X X X X true true false false true false true false false Jeremy J Wheaton President & CEO 167451 0 100000 0 95651 0 24869 0 11911 0 399882 0 0 0 Richard J Boyle Former DIRECTOR/CEO/PRESIDENT 0 0 0 0 0 15946 0 0 0 0 0 15946 0 0 Peter J Taylor Former Director, Current Foundation President & Director 0 560403 0 0 0 4524 0 88246 0 8640 0 661813 0 0 Robert A Stein Former Director 0 60000 0 0 0 0 0 0 0 0 0 60000 0 0 John F DePodesta Board Chair 0 183000 0 0 0 0 0 0 0 0 0 183000 0 0 James V McKeon Director 0 160000 0 0 0 0 0 0 0 0 0 160000 0 0 Janice A Hines Chief Relationship Officer 0 393902 0 260000 0 11523 0 55800 0 22488 0 743713 0 0 Heather M Renner Government Affairs Director 171906 0 28329 0 1840 0 24400 0 16701 0 243176 0 0 0 Daniel S Fisher General Counsel/Corp Secretary 310966 0 75000 0 1922 0 38013 0 30077 0 455978 0 0 0 Gregory A Van Guilder Chief Financial Officer 453964 0 150000 0 2897 0 52623 0 28529 0 688013 0 0 0 Stephen H Hansen VP Information Technology 209375 0 31674 0 1956 0 28955 0 856 0 272816 0 0 0 Heidi J Johnson VP Enterprise Risk Management & Strategic Initiatives 238413 0 42118 0 729 0 31687 0 30079 0 343026 0 0 0 Kathleen M King VP Finance & Controller 210266 0 80943 0 2196 0 33939 0 20783 0 348127 0 0 0 Hugh E McSherry VP Corporate Services 199502 0 68832 0 6546 0 28371 0 27529 0 330780 0 0 0 Matthew T Mikulski VP Internal Audit 194748 0 25536 0 13950 0 27037 0 22264 0 283535 0 0 0 Martin A Scanlon SVP Finance & CFO, ECMC 0 250606 0 148750 0 1496 0 38775 0 29386 0 469013 0 0 Michael Bogie VP IT Solutions Delivery 199064 0 30085 0 1492 0 25258 0 28428 0 284327 0 0 0 Andrew Fesler VP Total Rewards & HR Operations 208407 0 87951 0 883 0 31977 0 26936 0 356154 0 0 0 David Goff Chief Information Officer 306310 0 76080 0 2343 0 39299 0 18977 0 443009 0 0 0 John McKennell Chief Information Security Officer 186207 0 23819 0 1680 0 24836 0 26835 0 263377 0 0 0 Sarah Strehl Chief Human Resources Officer 318208 0 125000 0 916 0 41400 0 29284 0 514808 0 0 0 Joshua Susser VP Corporate Development & Strategic Planning 208576 0 25751 0 2713 0 28301 0 28492 0 293833 0 0 0 Iris Cumberbatch VP Corporate Affairs 207811 0 20279 0 64330 0 27633 0 4443 0 324496 0 0 0 Joseph Ezra VP Finance 146013 0 155138 0 21881 0 0 0 18726 0 341758 0 0 0 Ryan Fullmer VP Finance 145532 0 162284 0 227 0 0 0 18379 0 326422 0 0 0 Frederick Peguero VP Information Technology 218154 0 80636 0 3441 0 30622 0 29157 0 362010 0 0 0 Adam Trampe VP Compliance Zenith 191364 0 24463 0 5277 0 26409 0 26687 0 274200 0 0 0 Robert Kenyon SVP & Chief Accounting Officer 198261 0 61885 0 111078 0 7760 0 20862 0 399846 0 0 0 James G Gilbertson ECMCSS SVP Finance 257465 0 62804 0 3400 0 29400 0 16142 0 369211 0 0 0 Wendy Badger Corporate Compliance Officer 202845 0 25751 0 1048 0 27535 0 19477 0 276656 0 0 0 Brian Boardman VP Deputy General Counsel 199890 0 0 0 129790 0 24877 0 32428 0 386985 0 0 0 Tara Belair Sr Dir Human Resources & Talent 177703 0 24800 0 1169 0 22723 0 26559 0 252954 0 0 0 Robert Patton Enterprise Application Architecture Director 175316 0 24744 0 1075 0 22459 0 26607 0 250201 0 0 0 Kelley Pufpaff Dir HR Operations 179846 0 105500 0 4479 0 30600 0 19485 0 339910 0 0 0 Arnold Singer Sr Dir Information Technology 163121 0 28987 0 5643 0 23657 0 27529 0 248937 0 0 0 Tiffany Thompson Dir Finance - Accounts Payable & Treasury 158893 0 42000 0 1369 0 24206 0 1802 0 228270 0 0 0 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 2017: Robert Kenyon - $110,625. Joseph Ezra - $21,197. 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 2017, Gregory A. Van Guilder, Sarah Strehl, David Goff and Janice A. Hines participated in the 457(f) plan, and received employer contributions of $2,400, $1,300, $189 and $5,400, respectively, and Peter J. Taylor participated in the SERP plan, and received an employer contribution of $50,746. ECMC Holdings Corporation, a wholly owned subsidiary of ECMC Group, Inc., a related organization, maintains a supplemental nonqualified retirement plan described in section 457(f) to attract and retain employees, typically in management positions. In 2017, Martin A. Scanlon participated in the 457(f) plan, and received an employer contribution of $8,175. 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. Richard J Boyle Mr. Boyle is a Director and President of the contracted company. 155000 The consulting contract for advisory services began after Mr. Boyle retired from the organization on February 1, 2014. The proposed terms of the contract were reviewed by the Governance & Compensation Committee of the ECMC Group, Inc. Board of Directors which is wholly comprised of independent, outside directors. The Committee reviewed the business terms, tasks, duration of the proposed agreement and comparability data. They also heard from compensation consultants and outside counsel. The Committee made a recommendation that was then approved by the full ECMC Group, Inc. Board of Directors. false Form 990, Part III, Line 4d Description of other program services (Expenses $ 243,176 including grants of $ 0)(Revenue $ 0) 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. 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 repercussions for good faith reporting of potential illegal practices or violations of corporate policies. ECMC Group, Inc. has established an anonymous whistleblower telephone hotline and website administered by an outside vendor. 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 2017, there were nine members of the Board of Directors and, therefore, nine 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 Code of Ethics and Business Conduct. The affirmation specifically references that the individual will comply with the directives of the Code of Ethics and Business Conduct. Conflicts of Interest and disclosure of potential conflicts are included in the Code of Ethics and Business Conduct. Monitoring and enforcement of the policy are accomplished through the reaffirmation process. In cases where a potential conflict exists at the officer and key employee levels, the issue is disclosed to the CEO and Director of Corporate Compliance. For potential or real conflicts involving the CEO or a member of the Board of Directors, the disclosure is made to the Board Chairman. The Board member or CEO 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), 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 2017, 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 a written 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), 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 2017, 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 a written 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 Robert Stein, a former Director, had a consulting agreement in 2017. Form 990, Part XI, Line 5 Net unrealized gains on investments Net unrealized gain on investment in the ECMC Group, Inc. Investment Pool are $25,544,295. OAKDALE STUDENT LOAN FUNDING LLC 111 Washington Ave So Ste 1400 Minneapolis MN 55401 271914648 HOLDING FFELP LOANS DE 83408557 505215641 ECMC GROUP INC PREMIERE CREDIT OF NORTH AMERICA LLC 2002 WELLESLEY BLVD 100 INDIANAPOLIS IN 46219 352085743 ACCOUNTS RECEIVABLE MANAGEMENT IN ECMC HOLDINGS CORP ECMC Shared Services Company LLC 111 Washington Ave So Ste 1400 Minneapolis MN 55401 810690960 Support Services Functions DE 0 48471703 ECMC Group Inc Patriot Student Loan Capital LLC 111 Washington Ave So Ste 1400 Minneapolis MN 55401 813501777 Trust Student Loans DE 0 103749381 ECMC Group Inc Healthcare Billing Administrators LLC 2002 Wellesley Blvd 100 Indianapolis IN 46219 814038009 Provider of Contingent Collections in the Healthcare Provider Market IN Premiere Credit of North America LLC EDUCATIONAL CREDIT MGMT CORP 111 Washington Ave So Ste 1400 Minneapolis MN 55401 411778617 FFELP GUARANTOR MN 501(c)(3) 10 ECMC GROUP INC true ECMC FOUNDATION 111 Washington Ave So Ste 1400 Minneapolis MN 55401 411990628 PROMOTE EDUCATION DE 501(c)(3) Type II ECMC GROUP INC true Zenith Education Group Inc 111 Washington Ave So Ste 1400 Minneapolis MN 55401 472237488 Career Colleges DE 501(c)(3) 2 ECMC Group Inc true OAKDALE INVESTMENT MANAGEMENT CORPORATION 111 Washington Ave So Ste 1400 Minneapolis MN 55401 461549752 HOLDING INVESTMENTS DE ECMC GROUP INC C Corporation 17785 2500919 1 true ECMC HOLDINGS CORPORATION 111 Washington Ave So Ste 1400 Minneapolis MN 55401 411991992 STRATEGIC OVERSIGHT DE ECMC GROUP INC C Corporation 29155331 39134477 1 true EDUCATIONAL CREDIT SERVICES COMPANY 111 Washington Ave So Ste 1400 Minneapolis MN 55401 411992001 PRIVATE LOANS DE NA C Corporation true ECMC RECORDS & REC MGMT CORPORATION 111 Washington Ave So Ste 1400 Minneapolis MN 55401 411989959 DOCUMENT MANAGEMENT DE NA C Corporation true ECMC MANAGEMENT SERVICES CORPORATION 111 Washington Ave So Ste 1400 Minneapolis MN 55401 411989960 MANAGEMENT SERVICES DE NA C Corporation true ECMC TECHNOLOGY SERVICES CORPORATION 111 Washington Ave So Ste 1400 Minneapolis MN 55401 411989958 TECHNOLOGY SERVICES DE NA C Corporation true ECMC SERVICING CORPORATION 10370 PETER A MCCUEN BLVD MATHER CA 95655 471154366 LOAN SERVICING DE NA C Corporation true false true true true false false false false false false false false false true true true true false false Zenith Education Group Inc B 145000000 Allocation and Book Value Educational Credit Management Corporation C 308000000 Allocation Zenith Education Group Inc D 400000000 Face value; the credit arrangements matured in February, 2017 Zenith Education Group Inc D 2700000 Letters of Credit Contingent Liability Zenith Education Group Inc N 1093127 Allocation Zenith Education Group Inc P 5348672 Allocation ECMC Foundation N 194793 Allocation ECMC Foundation O 62155 Allocation ECMC Foundation Q 256358 Allocation Educational Credit Management Corporation N 8998297 Allocation Educational Credit Management Corporation O 33434785 Allocation Educational Credit Management Corporation P 3426060 Allocation ECMC Holdings Corporation Q 53134 Allocation Premiere Credit of North America LLC a subsidiary of ECMC Holdings Corporat ion Q 458237 Allocation