EDUCATIONAL CREDIT MANAGEMENT CORPORATION: Form 990, tax year 2015
View the entire original 990 at ProPublica ↗
- Organization
- EDUCATIONAL CREDIT MANAGEMENT CORPORATION (EIN 41-1778617)
- Tax period
- 2015-01-01 to 2015-12-31
- Filed
- 2016-11-14
- IRS object ID
- 201643199349305214
- Schema version
- 2015v2.1
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2016-11-14T12:01:18-06:00 | ReturnTs |
| Tax Period End | 2015-12-31 | 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 | 2015-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 411778617 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Educational Credit Management Corporation | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | EDUC | BusinessNameControlTxt |
| Phone | 6512210566 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 111 Washington Avenue South 1400 | AddressLine1Txt |
| City | Minneapolis | CityNm |
| State Abbreviation | MN | StateAbbreviationCd |
| ZIP | 55401 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | Gregory Van Guilder | PersonNm |
| Person Title | CFO | PersonTitleTxt |
| Signature | 2016-11-10 | 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 | 2015 | TaxYr |
| Build TS | 2017-02-10 21:41:12Z | BuildTS |
Form 990 IRS990
Principal Ofcr Business Name PrincipalOfcrBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Janice Hines | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 111 Washington Avenue South | AddressLine1Txt |
| City | Minneapolis | CityNm |
| State Abbreviation | MN | StateAbbreviationCd |
| ZIP | 55401 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $428,120,064 | GrossReceiptsAmt |
| Group Return For Affiliates | false | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | www.ecmc.org | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1994 | FormationYr |
| Legal Domicile State | MN | LegalDomicileStateCd |
| Activity Or Mission | Educational Credit Management Corporation (ECMC) provides services in support of higher education finance. ECMC sponsors programs to help students and families plan and pay for college. ECMC promotes financial literacy and provides resources for student loan borrowers to successfully repay their federally-insured student loans. ECMC, a 501(c)(3) organization, is a national guaranty agency designated by the U.S. Secretary of Education under and pursuant to the provisions of the Higher Education Act of 1965, as amended. In 2013, ECMC added the ECMC Solutions program, providing default prevention and financial literacy to student loan borrowers to help them understand their repayment options before becoming delinquent or defaulting on their federally-insured student loans. The program includes resources for post-secondary institutions to assist them in managing their cohort default rate. Services are offered to post-secondary institutions under a fee structure. | ActivityOrMissionDesc |
| Voting Members Governing Body | 9 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 8 | VotingMembersIndependentCnt |
| Total Employee | 913 | TotalEmployeeCnt |
| Total Volunteers | 0 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $391,952,346 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $428,080,966 | CYProgramServiceRevenueAmt |
| PY Investment Income | -$54,387 | PYInvestmentIncomeAmt |
| CY Investment Income | $39,098 | CYInvestmentIncomeAmt |
| CY Other Revenue | $0 | CYOtherRevenueAmt |
| PY Total Revenue | $391,897,959 | PYTotalRevenueAmt |
| CY Total Revenue | $428,120,064 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $261,841,575 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $245,981,969 | CYGrantsAndSimilarPaidAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $64,686,677 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $60,082,484 | CYSalariesCompEmpBnftPaidAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $85,460,448 | PYOtherExpensesAmt |
| CY Other Expenses | $88,822,519 | CYOtherExpensesAmt |
| PY Total Expenses | $411,988,700 | PYTotalExpensesAmt |
| CY Total Expenses | $394,886,972 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | -$20,090,741 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $33,233,092 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $681,510,408 | TotalAssetsBOYAmt |
| Total Assets EOY | $961,783,299 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $678,872,170 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $918,881,750 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $2,638,238 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $42,901,549 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | Educational Credit Management Corporation (ECMC) sponsors programs to help students plan and pay for college, promote financial literacy and provide resources to support student loan borrowers to repay their federally-insured student loans. | MissionDesc |
| Significant New Program Srvc | false | SignificantNewProgramSrvcInd |
| Significant Change | false | SignificantChangeInd |
| Expense | $86,237,685 | ExpenseAmt |
| Grant | $0 | GrantAmt |
| Revenue | $393,898,463 | RevenueAmt |
| Desc | DEFAULT AVERSION, CLAIMS AND COLLECTION PROGRAM: IN Educational Credit Management Corporation's (ECMC'S) ROLE AS A FEDERAL STUDENT LOAN GUARANTOR, WE ARE RESPONSIBLE TO PERFORM DEFAULT PREVENTIONS ACTIVITIES, REIMBURSE LENDERS FOR DEFAULT AND OTHER TYPES OF CLAIMS, AND RECOVER DEFAULTED STUDENT LOANS. DEFAULT PREVENTION PROGRAM: ECMC HAS A ROBUST DEFAULT PREVENTION PROGRAM FOCUSED ON EDUCATING AND COUNSELING DELINQUENT BORROWERS ON REPAYMENT STRATEGIES TO FIND THE ONE THAT BEST FITS THEIR SITUATION SO THEY CAN SUCCESSFULLY REPAY THEIR LOAN. ECMC'S COMMITMENT TO PREVENT DEFAULTS IS STRONG; OUR POSITIVE RESULTS REFLECT OUR DEDICATION TO THIS PROGRAM. COLLECTION PROGRAM: FOR THOSE BORROWERS WHO FACE THE UNFORTUNATE SITUATION OF STUDENT LOAN DEFAULT, IT IS NOT ONLY OUR FIDUCIARY RESPONSIBILITY TO THE U.S. TREASURY AND THE TAXPAYER TO COLLECT THOSE LOANS, ECMC IS ALSO COMMITTED TO HELP THE BORROWER RECOVER FROM DEFAULT. FORTUNATELY, CONGRESS HAS GIVEN US TOOLS TO DO SO, SUCH AS THE LOAN REHABILITATION PROGRAM WHERE WE ARE GIVEN SIGNIFICANT LATITUDE TO ESTABLISH AN INCOME CONTINGENT REPAYMENT ARRANGEMENT WITH THE BORROWER. WITH SUCCESSFUL COMPLETION OF THIS PROGRAM, THE DEFAULT STATUS IS REMOVED FROM THE BORROWER'S RECORD. SINCE INCEPTION, ECMC HAS RETURNED $11.8 BILLION IN STUDENT LOAN RECOVERIES TO THE U.S. TREASURY. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $19,087,266 | ExpenseAmt |
| Grant | $987,719 | GrantAmt |
| Revenue | $22,248,044 | RevenueAmt |
| Desc | LOAN GUARANTEE PROGRAM: EDUCATIONAL CREDIT MANAGEMENT CORPORATION (ECMC) IS THE DESIGNATED GUARANTY AGENCY FOR VIRGINIA, OREGON, CONNECTICUT AND CALIFORNIA UNDER THE FEDERAL FAMILY EDUCATION LOAN (FFEL) PROGRAM. A GUARANTY AGENCY UNDER THE FFEL PROGRAM PROVIDES FEDERAL STUDENT LOAN GUARANTEES AND ONGOING PROCESSING SERVICES TO COMMERCIAL LENDERS AND POSTSECONDARY EDUCATION STUDENTS AND THEIR PARENTS FOR FFEL PROGRAM LOANS. ADDITIONAL SERVICES PROVIDED BY ECMC IN FULFILLING ITS ROLE AS A GUARANTY AGENCY INCLUDE BUT ARE NOT LIMITED TO: ASSISTING BORROWERS AND PARENTS IN PREPARING FOR COLLEGE; FINANCIAL LITERACY AND MONEY MANAGEMENT EDUCATION; EDUCATION REGARDING THE OBLIGATIONS ASSOCIATED WITH STUDENT LOANS; AND EDUCATION ON HOW TO AVOID STUDENT LOAN DEFAULT. On February 9, 2015, ECMC Foundation transferred the ECMC Scholars Program, The College Place and the curriculum guides and training to ECMC. These programs complement ECMC's college access and financial literacy programs. AS OF DECEMBER 31, 2015, THE NON-DEFAULT GUARANTEE PORTFOLIO CONSISTED OF $23.4 BILLION IN ORIGINAL OUTSTANDING PRINCIPAL BALANCE. | Desc |
Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $7,414,975 | ExpenseAmt |
| Grant | $0 | GrantAmt |
| Revenue | $6,827,985 | RevenueAmt |
| Desc | ECMC SOLUTIONS PROGRAM. THE ECMC SOLUTIONS PROGRAM FOCUSES ON PROVIDING DEFAULT PREVENTION AND FINANCIAL LITERACY TO STUDENT LOAN BORROWERS WHILE THEY ARE STILL IN SCHOOL, IN THEIR GRACE PERIOD, OR IN REPAYMENT TO HELP THEM UNDERSTAND THEIR REPAYMENT OPTIONS BEFORE BECOMING DELINQUENT OR DEFAULTING ON THEIR FEDERALLY-INSURED STUDENT LOANS. THE PROGRAM INCLUDES RESOURCES FOR POST-SECONDARY INSTITUTIONS TO ASSIST THEM IN MANAGING THEIR COHORT DEFAULT RATE. SERVICES ARE OFFERED TO POST-SECONDARY INSTITUTIONS UNDER A FEE STRUCTURE. | Desc |
Prog Srvc Accom Acty Other ProgSrvcAccomActyOtherGrp (2 entries)
| ExpenseExpenseAmt | GrantGrantAmt | RevenueRevenueAmt | DescDesc |
|---|---|---|---|
| $245,000,000 | $245,000,000 | $0 | CONTRIBUTIONS MADE TO ECMC GROUP, INC.: ECMC GROUP, INC. IS THE PARENT OF AND A SUPPORTING ORGANIZATION TO Educational Credit Management Corporation (ECMC). ECMC GROUP, INC. RETAINS THE FOLLOWING AUTHORITY OVER ECMC: 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. ECMC GROUP, INC. AUTHORIZES THE DISTRIBUTION OF FUNDS FROM ECMC TO ECMC GROUP, INC. SECTION 422B OF THE HIGHER EDUCATION ACT OF 1965, AS AMENDED, ALLOWS ECMC TO INVEST FUNDS AT ITS DISCRETION IN ACCORDANCE WITH PRUDENT INVESTOR STANDARDS AND TO USE FUNDS FOR HIGHER EDUCATION RELATED ACTIVITIES. ECMC DISTRIBUTES FUNDS TO ECMC GROUP, INC. TO INVEST AND TO DISTRIBUTE TO ECMC FOUNDATION TO USE FOR HIGHER EDUCATION RELATED ACTIVITIES. |
| $5,106,473 | $0 | $5,106,473 | BANKRUPTCY SERVICING: EDUCATIONAL CREDIT MANAGEMENT CORPORATION (ECMC) SERVICES AND MONITORS THE BANKRUPTCY CASES ON THE FFEL PROGRAM STUDENT LOANS CURRENTLY UNDER CHAPTER 7 OR 13 OF THE BANKRUPTCY CODE. THE BANKRUPTCY LOANS ARE TRANSFERRED FROM THE U.S. DEPARTMENT OF EDUCATION AND OTHER GUARANTY AGENCIES FOR PROCESSING BY ECMC. THE BANKRUPTCY STUDENT LOAN PORTFOLIO AT DECEMBER 31, 2015 CONSISTED OF $2.5 BILLION IN OUTSTANDING PRINCIPAL, INTEREST AND FEES. |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Prog Srvc Expense | $250,106,473 | TotalOtherProgSrvcExpenseAmt |
| Total Other Prog Srvc Grant | $245,000,000 | TotalOtherProgSrvcGrantAmt |
| Total Other Prog Srvc Revenue | $5,106,473 | TotalOtherProgSrvcRevenueAmt |
| Total Program Service Expenses | $362,846,399 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (true) | DescribedInSection501c3Ind |
| Schedule B Required | false | ScheduleBRequiredInd |
| Political Campaign Acty | false | PoliticalCampaignActyInd |
| Lobbying Activities | false | LobbyingActivitiesInd |
| Subject To Proxy Tax | false | SubjectToProxyTaxInd |
| Donor Advised Fund | false | DonorAdvisedFundInd |
| Conservation Easements | false | ConservationEasementsInd |
| Collections Of Art | false | CollectionsOfArtInd |
| Credit Counseling | false | CreditCounselingInd |
| Temp Or Permanent Endowments | false | TempOrPermanentEndowmentsInd |
| Report Land Building Equipment | Yes (true) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | false | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | false | ReportProgramRelatedInvstInd |
| Report Other Assets | Yes (true) | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (true) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (true) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (true) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (true) | ConsolidatedAuditFinclStmtInd |
| School Operating | false | SchoolOperatingInd |
| Foreign Office | false | ForeignOfficeInd |
| Foreign Activities | false | 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 With Officer Ent | Yes (true) | BusinessRlnWithOfficerEntInd |
| Deductible Non Cash Contri | false | DeductibleNonCashContriInd |
| Deductible Art Contribution | false | DeductibleArtContributionInd |
| Terminate Operations | false | TerminateOperationsInd |
| Partial Liquidation | false | PartialLiquidationInd |
| Disregarded Entity | false | DisregardedEntityInd |
| Related Entity | Yes (true) | RelatedEntityInd |
| Related Organization Ctrl Ent | false | RelatedOrganizationCtrlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | false | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | false | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (true) | ScheduleORequiredInd |
| IRP Document | 70234 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Employee | 913 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (true) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | false | UnrelatedBusIncmOverLimitInd |
| 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 |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 9 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 8 | 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 | Yes (true) | 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 | CA | StatesWhereCopyOfReturnIsFldCd |
| States Where Copy Of Return Is Fld | NM | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Gregory Van Guilder | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 6512210566 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 111 Washington Avenue S Suite 1400 | AddressLine1Txt |
| City | Minneapolis | CityNm |
| State Abbreviation | MN | StateAbbreviationCd |
| ZIP | 55401 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (33 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 | Highest Compensated EmployeeHighestCompensatedEmployeeInd | Former Ofcr Director TrusteeFormerOfcrDirectorTrusteeInd |
|---|---|---|---|---|---|---|---|---|---|
| DAVID HAWN | |||||||||
| Group CEO & President | 0.0 | 61.0 | Yes (X) | Yes (X) | $0 | $1,018,467 | $101,323 | ||
| JOHN DEPODESTA | |||||||||
| Board Chair | 1.0 | 20.0 | Yes (X) | $0 | $189,638 | $0 | |||
| GARY COOK | |||||||||
| DIRECTOR | 1.0 | 10.0 | Yes (X) | $0 | $140,388 | $0 | |||
| Julia Gouw | |||||||||
| Director | 1.0 | 6.0 | Yes (X) | $0 | $54,000 | $0 | |||
| I KING JORDAN | |||||||||
| DIRECTOR | 1.0 | 7.0 | Yes (X) | $0 | $105,000 | $0 | |||
| JAMES MCKEON | |||||||||
| DIRECTOR | 1.0 | 14.0 | Yes (X) | $0 | $160,000 | $0 | |||
| JACK O'CONNELL | |||||||||
| DIRECTOR | 1.0 | 9.0 | Yes (X) | $0 | $102,500 | $0 | |||
| ROBERTA COOPER RAMO | |||||||||
| DIRECTOR | 1.0 | 13.0 | Yes (X) | $0 | $124,250 | $0 | |||
| MAURICE SALTER | |||||||||
| DIRECTOR | 1.0 | 12.0 | Yes (X) | $0 | $130,496 | $0 | |||
| GREGORY VAN GUILDER | |||||||||
| CHIEF FINANCIAL OFFICER | 0.0 | 57.0 | Yes (X) | $0 | $884,417 | $92,437 | |||
| DANIEL FISHER | |||||||||
| SECRETARY/GENERAL COUNSEL | 0.0 | 54.0 | Yes (X) | $0 | $591,979 | $70,788 | |||
| THERESE BICKLER | |||||||||
| VICE PRESIDENT | 45.0 | 0.0 | Yes (X) | $289,061 | $0 | $57,400 | |||
| LEN HYDE | |||||||||
| VICE PRESIDENT | 48.0 | 0 | Yes (X) | $314,151 | $0 | $59,795 | |||
| STEPHEN HANSEN | |||||||||
| VICE PRESIDENT | 37.0 | 0.0 | Yes (X) | $273,421 | $0 | $32,625 | |||
| MARCH KESSLER | |||||||||
| Executive Director | 38.0 | 5.0 | $171,194 | $22,208 | $32,022 | Yes (X) | |||
| DEAN VANDECOEVERING | |||||||||
| Dir Data Warehousing/Business Intelligence | 48.0 | 0 | $251,607 | $0 | $28,846 | Yes (X) | |||
| AARON WOODRICH | |||||||||
| Director, IT Infrastructure | 39.0 | 0.0 | $198,871 | $0 | $45,038 | Yes (X) | |||
| TROY GUNDERMAN | |||||||||
| Dir Litigation | 44.0 | 0.0 | $185,796 | $0 | $44,239 | Yes (X) | |||
| ADAM TRAMPE | |||||||||
| VP Compliance | 38.0 | 0 | $203,842 | $0 | $35,584 | Yes (X) | |||
| HEIDI JOHNSON | |||||||||
| Vice President | 6.0 | 55.0 | $0 | $472,650 | $66,285 | Yes (X) | |||
| HEATHER RENNER | |||||||||
| VICE PRESIDENT | 0.0 | 41.0 | $0 | $315,663 | $49,867 | Yes (X) | |||
| EDWARD SPEAR | |||||||||
| CHIEF INFORMATION OFFICER | 0.0 | 0.0 | $0 | $281,223 | $3,944 | Yes (X) | |||
| KATHLEEN KING | |||||||||
| Controller/Vice President | 0.0 | 47.0 | $0 | $313,146 | $49,358 | Yes (X) | |||
| MATTHEW MIKULSKI | |||||||||
| VICE PRESIDENT | 0.0 | 54.0 | $0 | $256,054 | $54,863 | Yes (X) | |||
| GERALDINE GJESDAHL | |||||||||
| VICE PRESIDENT | 0.0 | 31.0 | $0 | $241,360 | $8,599 | Yes (X) | |||
| HUGH MCSHERRY | |||||||||
| VICE PRESIDENT | 0.0 | 60.0 | $0 | $251,182 | $52,063 | Yes (X) | |||
| JANICE HINES | |||||||||
| President/CEO/Chief Relationship Officer | 0.0 | 42.0 | $0 | $458,627 | $59,864 | Yes (X) | |||
| MARTIN SCANLON | |||||||||
| VICE PRESIDENT | 0.0 | 51.7 | $0 | $367,622 | $62,133 | Yes (X) | |||
| PAULA CRAW | |||||||||
| Dir Outreach/Financial Literacy | 42.0 | 0 | $205,282 | $0 | $29,878 | Yes (X) | |||
| ABIGAIL SELDIN | |||||||||
| Vice President | 47.0 | 0.0 | $251,419 | $0 | $45,792 | Yes (X) | |||
| ROBERT STEIN | |||||||||
| Former Director | 0.0 | 0.0 | $0 | $50,000 | $0 | Yes (X) | |||
| PETER TAYLOR | |||||||||
| Former Director | 0.0 | 41.0 | $0 | $461,040 | $68,387 | Yes (X) | |||
| RICHARD BOYLE | |||||||||
| Former DIRECTOR/ECMC Group CEO | 0.0 | 0.0 | $0 | $17,422 | $0 | Yes (X) | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $2,344,643 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $7,009,333 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $1,151,129 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 187 | 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 |
|---|---|---|---|---|---|---|
| Performant Recovery Inc | ||||||
| 333 NORTH CANYON PARKWAY | Suite 100 | LIVERMORE | CA | 94551 | COLLECTION AGENCY | $9,303,803 |
| GC SERVICES LP | ||||||
| 6330 GULFTON ST | HOUSTON | TX | 77081 | COLLECTION AGENCY | $8,235,163 | |
| Account Control Technology Inc | ||||||
| 6918 Owensmouth Ave | Canogo Park | CA | 91303 | Collection Agency | $2,621,849 | |
| Transworld Systems Inc | ||||||
| PO Box 5505 | Carol Stream | IL | 601975505 | Collection Agency | $2,584,644 | |
| Allied Interstate Inc | ||||||
| PO Box 931203 | Columbus | OH | 44193 | Collection Agency | $1,952,036 | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 38 | CntrctRcvdGreaterThan100KCnt |
| Info In Schedule O Part VIII | Yes (X) | InfoInScheduleOPartVIIIInd |
| Total Contributions | $0 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (5 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| Collection Revenue | 900099 | $384,135,064 | $384,135,064 |
| Default Aversion | 900099 | $16,104,949 | $16,104,949 |
| Account Maintenance | 900099 | $14,494,155 | $14,494,155 |
| Bankruptcy Servicing | 900099 | $5,106,473 | $5,106,473 |
| Solutions | 900099 | $6,827,985 | $6,827,985 |
Total Oth Program Service Rev TotalOthProgramServiceRevGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $1,412,340 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $1,412,340 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $428,080,966 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $39,098 | TotalRevenueColumnAmt |
| Exclusion | $39,098 | ExclusionAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $0 | RealAmt |
| Personal | $0 | PersonalAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $0 | SecuritiesAmt |
| Other | $0 | OtherAmt |
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 | $0 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $428,120,064 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $428,080,966 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $39,098 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $245,085,700 | TotalAmt |
| Program Services | $245,085,700 | ProgramServicesAmt |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $896,269 | TotalAmt |
| Program Services | $896,269 | ProgramServicesAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,620,509 | TotalAmt |
| Program Services | $1,049,916 | ProgramServicesAmt |
| Management And General | $570,593 | ManagementAndGeneralAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $42,003,063 | TotalAmt |
| Program Services | $30,866,118 | ProgramServicesAmt |
| Management And General | $11,136,945 | ManagementAndGeneralAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,250,929 | TotalAmt |
| Program Services | $2,832,716 | ProgramServicesAmt |
| Management And General | $1,418,213 | ManagementAndGeneralAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $8,745,172 | TotalAmt |
| Program Services | $7,738,696 | ProgramServicesAmt |
| Management And General | $1,006,476 | ManagementAndGeneralAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,462,811 | TotalAmt |
| Program Services | $2,403,603 | ProgramServicesAmt |
| Management And General | $1,059,208 | ManagementAndGeneralAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,130,982 | TotalAmt |
| Program Services | $1,937,784 | ProgramServicesAmt |
| Management And General | $193,198 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $394,766 | TotalAmt |
| Program Services | $391,708 | ProgramServicesAmt |
| Management And General | $3,058 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $7,968,283 | TotalAmt |
| Program Services | $6,909,498 | ProgramServicesAmt |
| Management And General | $1,058,785 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $8,882 | TotalAmt |
| Program Services | $8,882 | ProgramServicesAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $6,654,793 | TotalAmt |
| Program Services | $3,684,610 | ProgramServicesAmt |
| Management And General | $2,970,183 | ManagementAndGeneralAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,777,080 | TotalAmt |
| Program Services | $966,984 | ProgramServicesAmt |
| Management And General | $4,810,096 | ManagementAndGeneralAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,837,119 | TotalAmt |
| Program Services | $2,625,686 | ProgramServicesAmt |
| Management And General | $1,211,433 | ManagementAndGeneralAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $793,883 | TotalAmt |
| Program Services | $558,528 | ProgramServicesAmt |
| Management And General | $235,355 | ManagementAndGeneralAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $238,338 | TotalAmt |
| Program Services | $109,101 | ProgramServicesAmt |
| Management And General | $129,237 | ManagementAndGeneralAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $8,045,057 | TotalAmt |
| Program Services | $2,011,397 | ProgramServicesAmt |
| Management And General | $6,033,660 | ManagementAndGeneralAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $845,846 | TotalAmt |
| Program Services | $644,693 | ProgramServicesAmt |
| Management And General | $201,153 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp (3 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt |
|---|---|---|---|
| Default Aversion Fees | $3,907,504 | $3,907,504 | |
| Commission Expense | $48,048,790 | $48,048,790 | |
| Miscellaneous Expense | $171,196 | $168,216 | $2,980 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
| Program Services | $0 | ProgramServicesAmt |
| Management And General | $0 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $394,886,972 | TotalAmt |
| Program Services | $362,846,399 | ProgramServicesAmt |
| Management And General | $32,040,573 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,903,701 | BOYAmt |
| EOY | $13,211,878 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,196,160 | BOYAmt |
| EOY | $42,415,062 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $12,296,999 | BOYAmt |
| EOY | $32,570,457 | EOYAmt |
Receivables From Officers Etc ReceivablesFromOfficersEtcGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $0 | EOYAmt |
Rcvbl From Disqualified Prsn RcvblFromDisqualifiedPrsnGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $0 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,728,182 | BOYAmt |
| EOY | $1,948,201 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,774,239 | BOYAmt |
| EOY | $2,652,253 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $77,389,174 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $68,846,108 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $15,427,039 | BOYAmt |
| EOY | $8,543,066 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
Intangible Assets IntangibleAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $90,747 | BOYAmt |
| EOY | $30,249 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $632,093,341 | BOYAmt |
| EOY | $860,412,133 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $681,510,408 | BOYAmt |
| EOY | $961,783,299 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $71,599,311 | BOYAmt |
| EOY | $57,279,473 | EOYAmt |
Grants Payable GrantsPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $768,893 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $432,909 | BOYAmt |
| EOY | $563,749 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $606,839,950 | BOYAmt |
| EOY | $860,269,635 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $678,872,170 | BOYAmt |
| EOY | $918,881,750 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows SFAS117 | Yes (X) | OrganizationFollowsSFAS117Ind |
Unrestricted Net Assets UnrestrictedNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,638,238 | BOYAmt |
| EOY | $36,667,614 | EOYAmt |
Temporarily Rstr Net Assets TemporarilyRstrNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $6,233,935 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,638,238 | BOYAmt |
| EOY | $42,901,549 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $681,510,408 | BOYAmt |
| EOY | $961,783,299 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $33,233,092 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | $7,030,219 | 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) |
|---|---|---|
| Consol And Sep Basis Fincl Stmt | Yes (X) | ConsolAndSepBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (true) | AuditCommitteeInd |
| Federal Grant Audit Required | Yes (true) | FederalGrantAuditRequiredInd |
| Federal Grant Audit Performed | Yes (true) | FederalGrantAuditPerformedInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Publicly Supported Org509a2 | Yes (X) | PubliclySupportedOrg509a2Ind |
Gifts Grants Contris Rcvd509 GiftsGrantsContrisRcvd509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Gross Receipts Admissions GrossReceiptsAdmissionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $382,905,105 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $426,103,191 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $455,327,019 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $391,952,346 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $428,080,966 | CurrentTaxYearAmt |
| Total | $2,084,368,627 | TotalAmt |
Gross Receipts Non Unrlt Bus GrossReceiptsNonUnrltBusGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Tax Rev Levied Orgnztnl Bnft509 TaxRevLeviedOrgnztnlBnft509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Govt Furn Srvc Fclts Vl509 GovtFurnSrvcFcltsVl509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Total509 Total509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $382,905,105 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $426,103,191 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $455,327,019 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $391,952,346 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $428,080,966 | CurrentTaxYearAmt |
| Total | $2,084,368,627 | TotalAmt |
Amounts Rcvd Dsqlfy Person AmountsRcvdDsqlfyPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $0 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $0 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $0 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $0 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $0 | CurrentTaxYearAmt |
| Total | $0 | TotalAmt |
Substantial Contributors Amt SubstantialContributorsAmtGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $0 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $0 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $0 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $0 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $0 | CurrentTaxYearAmt |
| Total | $0 | TotalAmt |
Subst And Dsqlfy Prsns Tot SubstAndDsqlfyPrsnsTotGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $0 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $0 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $0 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $0 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $0 | CurrentTaxYearAmt |
| Total | $0 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Support Total509 | $2,084,368,627 | PublicSupportTotal509Amt |
Gross Investment Income509 GrossInvestmentIncome509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $235,378 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $499,222 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $86,472 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $47,429 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $39,098 | CurrentTaxYearAmt |
| Total | $907,599 | TotalAmt |
Post1975 UBTI Post1975UBTIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Investment Income And UBTI InvestmentIncomeAndUBTIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $235,378 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $499,222 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $86,472 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $47,429 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $39,098 | CurrentTaxYearAmt |
| Total | $907,599 | TotalAmt |
Net Income From Other UBI NetIncomeFromOtherUBIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Other Income509 OtherIncome509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $0 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $0 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $12,978,533 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $0 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $0 | CurrentTaxYearAmt |
| Total | $12,978,533 | TotalAmt |
Total Support Calendar Year TotalSupportCalendarYearGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $383,140,483 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $426,602,413 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $468,392,024 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $391,999,775 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $428,120,064 | CurrentTaxYearAmt |
| Total | $2,098,254,759 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Support CY509 | 0.9934 | PublicSupportCY509Pct |
| Public Support PY509 | 0.9924 | PublicSupportPY509Pct |
| Investment Income CY | 0.0004 | InvestmentIncomeCYPct |
| Investment Income PY | 0.0005 | InvestmentIncomePYPct |
| Thirty Thr Pct Suprt Tests CY509 | Yes (X) | ThirtyThrPctSuprtTestsCY509Ind |
Form990 Schedule A Part VI Form990ScheduleAPartVIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Schedule A, Part III, Line 12 Other Income | FormAndLineReferenceDesc |
| Explanation | DESCRIPTION - REVERSE OF ALLOWANCE FOR LOAN LOSS, COLUMN A - 0.0, COLUMN B - 0.0, COLUMN C - 8200000.0, COLUMN D - , COLUMN E - , COLUMN F - 8200000.0; DESCRIPTION - INTEREST ON NOTE RECEIVABLE FROM AFFILIATE, COLUMN A - 0.0, COLUMN B - 0.0, COLUMN C - 4778533.0, COLUMN D - , COLUMN E - , COLUMN F - 4778533.0; | ExplanationTxt |
Schedule D IRS990ScheduleD
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $10,672,084 | OtherCostOrOtherBasisAmt |
| Depreciation | $8,406,745 | DepreciationAmt |
| Book Value | $2,265,339 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $66,717,090 | OtherCostOrOtherBasisAmt |
| Depreciation | $60,439,363 | DepreciationAmt |
| Book Value | $6,277,727 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $8,543,066 | TotalBookValueLandBuildingsAmt |
Other Assets Org OtherAssetsOrgGrp (13 entries)
| DescDesc | Book ValueBookValueAmt |
|---|---|
| Custodial assets held for Guarantor Federal Reserve | $750,903,743 |
| Custodial assets held for Federal Services Bureau | $107,468,151 |
| Due from Federal Services Bureau | $1,186,110 |
| Due from Guarantor Federal Reserve | $157,150 |
| Due from ECMC Group, Inc. | $114,930 |
| Due from ECMC Holdings Corporation | $6,491 |
| Due from ECMC Records & Receivable Mgmt Corporation | $5,670 |
| Deposits | $0 |
| Due from Education Credit Services Corporation | |
| Due from ECMC Foundation | $31,120 |
| Due from ECMC Servicing Corporation | $7,318 |
| Due from PCNA | $441,537 |
| Due from Zenith | $89,913 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Other Assets | $860,412,133 | TotalBookValueOtherAssetsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (4 entries)
| DescDesc | AmtAmt |
|---|---|
| Obligations to Guarantor Federal Reserve | $750,903,743 |
| Obligations to Federal Services Bureau | $107,468,151 |
| Due to ECSC | $936 |
| Due to PCNA | $1,896,805 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $860,269,635 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $423,013,591 | TotalRevEtcAuditedFinclStmtAmt |
| Other Revenue | $0 | OtherRevenueAmt |
| Revenue Not Reported | $0 | RevenueNotReportedAmt |
| Revenue Subtotal | $423,013,591 | RevenueSubtotalAmt |
| Other Revenues Not Included | $5,106,473 | OtherRevenuesNotIncludedAmt |
| Revenue Not Reported Fincl Stmt | $5,106,473 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $428,120,064 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $389,780,499 | TotExpnsEtcAuditedFinclStmtAmt |
| Other Expenses Included | $0 | OtherExpensesIncludedAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $389,780,499 | ExpensesSubtotalAmt |
| Other Expenses Not Included | $5,106,473 | OtherExpensesNotIncludedAmt |
| Expenses Not Rpt Fincl Stmt | $5,106,473 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $394,886,972 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (3 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote | The FIN 48 (ASC 470) disclosure in the Educational Credit Management Corporation (ECMC) financial statements reads as follows: "ECMC is exempt from tax on related income under Section 501(c)(3) and qualifies as a public charity under Section 509(a)(2). ECMC follows the accounting standards for contingencies in evaluating uncertain tax positions. This guidance prescribes recognition threshold principles for the financial statement recognition of tax positions taken or expected to be taken on a tax return that are not certain to be realized. No liability has been recognized by ECMC for uncertain tax positions as of December 31, 2015 or 2014. ECMC's tax returns are subject to review and examination by federal and state authorities. The tax returns for the current year, as well as fiscal years 2012 through 2014, are open to examination by federal and state authorities." |
| Schedule D, Part XI, Line 4(b) Other revenues in form 990 not in audited financial statements | Bankruptcy Servicing - 5106473 |
| Schedule D, Part XII, Line 4(b) Other expenses in form 990 not in audited financial statements | Bankruptcy Servicing - 5106473 |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (true) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable (5 entries)
| Address Line1USAddress/AddressLine1Txt | Address Line2USAddress/AddressLine2Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Recipient EINRecipientEIN | IRC SectionIRCSectionDesc | Cash GrantCashGrantAmt | Purpose Of GrantPurposeOfGrantTxt |
|---|---|---|---|---|---|---|---|---|
| ECMC GROUP INC | ||||||||
| 111 Washington Avenue South | Suite 1400 | Minneapolis | MN | 55401 | 411991995 | 501(c)(3) | $245,000,000 | Expand Education Opportunities |
| BUSINESS FOR EXCELLENCE IN YOUTH | ||||||||
| PO BOX 843 | NEOTSU | OR | 97364 | 311731641 | 501(c)(3) | $5,700 | Sponsorships | |
| University of California Regents | ||||||||
| 2150 KITTREDGE ST SUITE 3A | BERKELEY | CA | 947201060 | 946002123 | State Board | $10,000 | Sponsorships | |
| 1776 GLOBAL INC | ||||||||
| 1133 15TH St NW | 12TH FLOOR | WASHINGTON | DC | 20001 | 463053453 | $55,000 | Sponsorships | |
| NATIONAL COLLEGE ACCESS NETWORK | ||||||||
| 1001 CONNECTICUT AVE NW | SUITE 632 | WASHINGTON | DC | 200365504 | 311793562 | 501(c)(3) | $10,000 | Sponsorships |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 4 | Total501c3OrgCnt |
| Total Other Org | 1 | TotalOtherOrgCnt |
Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp (3 entries)
| Grant TypeGrantTypeTxt | RecipientRecipientCnt | Cash GrantCashGrantAmt |
|---|---|---|
| Sponsorships | 3 | $4,000 |
| College Night Scholarships | 131 | $95,984 |
| ECMC SCHOLARS SCHOLARSHIPS | 249 | $796,284 |
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 parent of Educational Credit Management Corporation (ECMC) and exercises oversight of ECMC by providing strategic direction and coordination of programs and services offered by ECMC. ECMC Group, Inc. authorizes the distribution from ECMC to ECMC Group, Inc. No monitoring of the distributions to ECMC Group, Inc. is required. The remainder of the grants and assistance to the other organizations listed in Part II are minimal in nature and generally are issued in support of student financial aid conferences and organizations and do not require monitoring. The assistance listed in Part III are funds awarded to individuals to be used towards continuing their education. These are issued jointly payable to the student and the school the student is attending to ensure the funds are used for educational expenses. | 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 | Yes (true) | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | false | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | Yes (true) | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | false | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | false | AnyNonFixedPaymentsInd |
| Initial Contract Exception | false | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (27 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DAVID HAWN | ||||||||||||||
| Group CEO & President | $0 | $548,250 | $0 | $467,515 | $0 | $2,702 | $0 | $76,272 | $0 | $25,051 | $0 | $1,119,790 | $0 | $13,573 |
| ROBERT STEIN | ||||||||||||||
| Former Director | $0 | $50,000 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $50,000 | $0 | $0 |
| PETER TAYLOR | ||||||||||||||
| Former Director | $0 | $411,580 | $0 | $46,766 | $0 | $2,693 | $0 | $43,656 | $0 | $24,731 | $0 | $529,426 | $0 | $0 |
| RICHARD BOYLE | ||||||||||||||
| Former DIRECTOR/ECMC Group CEO | $0 | $0 | $0 | $0 | $0 | $17,422 | $0 | $0 | $0 | $0 | $0 | $17,422 | $0 | $0 |
| JOHN DEPODESTA | ||||||||||||||
| Board Chair | $0 | $189,638 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $189,638 | $0 | $0 |
| JAMES MCKEON | ||||||||||||||
| DIRECTOR | $0 | $160,000 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $160,000 | $0 | $0 |
| HEIDI JOHNSON | ||||||||||||||
| Vice President | $0 | $251,291 | $0 | $119,740 | $0 | $101,619 | $0 | $43,764 | $0 | $22,521 | $0 | $538,935 | $0 | $0 |
| HEATHER RENNER | ||||||||||||||
| VICE PRESIDENT | $0 | $220,861 | $0 | $92,307 | $0 | $2,496 | $0 | $34,470 | $0 | $15,397 | $0 | $365,530 | $0 | $0 |
| EDWARD SPEAR | ||||||||||||||
| CHIEF INFORMATION OFFICER | $0 | $43,827 | $0 | $0 | $0 | $237,396 | $0 | $3,944 | $0 | $0 | $0 | $285,167 | $0 | $0 |
| KATHLEEN KING | ||||||||||||||
| Controller/Vice President | $0 | $205,367 | $0 | $103,939 | $0 | $3,840 | $0 | $34,410 | $0 | $14,948 | $0 | $362,503 | $0 | $0 |
| MATTHEW MIKULSKI | ||||||||||||||
| VICE PRESIDENT | $0 | $171,118 | $0 | $82,510 | $0 | $2,426 | $0 | $31,092 | $0 | $23,771 | $0 | $310,917 | $0 | $0 |
| GERALDINE GJESDAHL | ||||||||||||||
| VICE PRESIDENT | $0 | $27,952 | $0 | $67,500 | $0 | $145,909 | $0 | $8,591 | $0 | $7 | $0 | $249,959 | $0 | $0 |
| HUGH MCSHERRY | ||||||||||||||
| VICE PRESIDENT | $0 | $177,108 | $0 | $67,602 | $0 | $6,471 | $0 | $30,291 | $0 | $21,771 | $0 | $303,245 | $0 | $0 |
| JANICE HINES | ||||||||||||||
| President/CEO/Chief Relationship Officer | $0 | $293,060 | $0 | $154,448 | $0 | $11,119 | $0 | $42,416 | $0 | $17,448 | $0 | $518,491 | $0 | $0 |
| MARTIN SCANLON | ||||||||||||||
| VICE PRESIDENT | $0 | $276,663 | $0 | $88,264 | $0 | $2,695 | $0 | $37,947 | $0 | $24,186 | $0 | $429,755 | $0 | $0 |
| PAULA CRAW | ||||||||||||||
| Dir Outreach/Financial Literacy | $144,209 | $0 | $50,503 | $0 | $10,570 | $0 | $24,474 | $0 | $5,404 | $0 | $235,160 | $0 | $0 | $0 |
| ABIGAIL SELDIN | ||||||||||||||
| Vice President | $205,302 | $0 | $45,109 | $0 | $1,008 | $0 | $30,323 | $0 | $15,469 | $0 | $297,211 | $0 | $0 | $0 |
| GREGORY VAN GUILDER | ||||||||||||||
| CHIEF FINANCIAL OFFICER | $0 | $441,002 | $0 | $441,938 | $0 | $1,477 | $0 | $67,331 | $0 | $25,106 | $0 | $976,854 | $0 | $0 |
| DANIEL FISHER | ||||||||||||||
| SECRETARY/GENERAL COUNSEL | $0 | $300,256 | $0 | $287,874 | $0 | $3,849 | $0 | $50,852 | $0 | $19,936 | $0 | $662,768 | $0 | $0 |
| THERESE BICKLER | ||||||||||||||
| VICE PRESIDENT | $186,225 | $0 | $98,752 | $0 | $4,084 | $0 | $33,281 | $0 | $24,118 | $0 | $346,461 | $0 | $0 | $0 |
| LEN HYDE | ||||||||||||||
| VICE PRESIDENT | $203,772 | $0 | $108,560 | $0 | $1,819 | $0 | $34,689 | $0 | $25,106 | $0 | $373,945 | $0 | $0 | $0 |
| STEPHEN HANSEN | ||||||||||||||
| VICE PRESIDENT | $191,977 | $0 | $78,464 | $0 | $2,980 | $0 | $32,089 | $0 | $536 | $0 | $306,045 | $0 | $0 | $0 |
| MARCH KESSLER | ||||||||||||||
| Executive Director | $126,363 | $22,035 | $43,601 | $0 | $1,229 | $174 | $21,984 | $1,341 | $7,773 | $924 | $200,951 | $24,473 | $0 | $0 |
| DEAN VANDECOEVERING | ||||||||||||||
| Dir Data Warehousing/Business Intelligence | $139,045 | $0 | $41,177 | $0 | $71,385 | $0 | $21,752 | $0 | $7,094 | $0 | $280,454 | $0 | $0 | $0 |
| AARON WOODRICH | ||||||||||||||
| Director, IT Infrastructure | $155,106 | $0 | $39,501 | $0 | $4,264 | $0 | $20,767 | $0 | $24,271 | $0 | $243,909 | $0 | $0 | $0 |
| TROY GUNDERMAN | ||||||||||||||
| Dir Litigation | $156,016 | $0 | $29,201 | $0 | $578 | $0 | $22,621 | $0 | $21,618 | $0 | $230,035 | $0 | $0 | $0 |
| ADAM TRAMPE | ||||||||||||||
| VP Compliance | $187,716 | $0 | $10,101 | $0 | $6,024 | $0 | $24,520 | $0 | $11,064 | $0 | $239,426 | $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 severance payments in 2015: Deborah Rude - $195,000. Geraldine Gjesdahl - $144,231. Rebecca Bernhard - $113,846. Renee Jennrich - $75,384. Edward Spear - $237,396, paid by ECMC Group, Inc., a related organization. |
| Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan | ECMC Group, Inc. maintains a supplemental nonqualified retirement plan described in section 457(f) to attract and retain employees, typically in management positions. In 2015, David Hawn, Gregory Van Guilder, Daniel Fisher and Heidi Johnson participated in the plan, and received employer contributions of $26,472, $17,531, 1,052 and 2,479 respectively. |
| Schedule J, Part I, Line 5a Compensation contigent on revenues of the organization | ECMC Group, Inc.'s annual officer incentive plan requires achievement of stated primary financial goals, which includes revenues, before any payments to any officer is made. |
| Schedule J, Part I, Line 6a Compensation contigent on net earnings of the organization | ECMC Group, Inc.'s annual officer incentive plan requires achievement of stated key performance metrics, which includes net earnings, before any payments to any officer is made. |
Schedule L IRS990ScheduleL
Bus Tr Involve Interested Prsn BusTrInvolveInterestedPrsnGrp
Name Of Interested NameOfInterested
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Richard Boyle | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Relationship Description | Mr. Boyle is a director and president of a company contracted with ECMC Group, Inc., a related org. | RelationshipDescriptionTxt |
| Transaction | $385,000 | TransactionAmt |
| Transaction | See Description of Transaction in Part V | TransactionDesc |
| Sharing Of Revenues | false | SharingOfRevenuesInd |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Schedule L, Part IV, Column (d) Description of Transaction | FormAndLineReferenceDesc |
| Explanation | ECMC Group, Inc., a related organization, has a consulting contract with a company owned by a former director and president. For transparency of operation, the contract is reported in this Form 990 filing as ECMC Group, Inc. is the parent and supporting entity of Educational Credit Management Corporation and Zenith Education Group, Inc. and the parent organization of ECMC Foundation. The contract is for advisory services to ECMC Group, Inc. and began after the officer 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. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (15 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Form 990, Part III, Line 4d Description of other program services | (Expenses $ 245,000,000 including grants of $ 245,000,000)(Revenue $ 0) CONTRIBUTIONS MADE TO ECMC GROUP, INC.: ECMC GROUP, INC. IS THE PARENT OF AND A SUPPORTING ORGANIZATION TO Educational Credit Management Corporation (ECMC). ECMC GROUP, INC. RETAINS THE FOLLOWING AUTHORITY OVER ECMC: 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. ECMC GROUP, INC. AUTHORIZES THE DISTRIBUTION OF FUNDS FROM ECMC TO ECMC GROUP, INC. SECTION 422B OF THE HIGHER EDUCATION ACT OF 1965, AS AMENDED, ALLOWS ECMC TO INVEST FUNDS AT ITS DISCRETION IN ACCORDANCE WITH PRUDENT INVESTOR STANDARDS AND TO USE FUNDS FOR HIGHER EDUCATION RELATED ACTIVITIES. ECMC DISTRIBUTES FUNDS TO ECMC GROUP, INC. TO INVEST AND TO DISTRIBUTE TO ECMC FOUNDATION TO USE FOR HIGHER EDUCATION RELATED ACTIVITIES. |
| Form 990, Part III, Line 4d Description of other program services | (Expenses $ 5,106,473 including grants of $ 0)(Revenue $ 5,106,473) BANKRUPTCY SERVICING: EDUCATIONAL CREDIT MANAGEMENT CORPORATION (ECMC) SERVICES AND MONITORS THE BANKRUPTCY CASES ON THE FFEL PROGRAM STUDENT LOANS CURRENTLY UNDER CHAPTER 7 OR 13 OF THE BANKRUPTCY CODE. THE BANKRUPTCY LOANS ARE TRANSFERRED FROM THE U.S. DEPARTMENT OF EDUCATION AND OTHER GUARANTY AGENCIES FOR PROCESSING BY ECMC. THE BANKRUPTCY STUDENT LOAN PORTFOLIO AT DECEMBER 31, 2015 CONSISTED OF $2.5 BILLION IN OUTSTANDING PRINCIPAL, INTEREST AND FEES. |
| 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, DIRECTORS, 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. THE PROVISION STATES THAT THERE CAN BE NO REPERCUSSIONS FOR GOOD FAITH REPORTING OF POTENTIAL ILLEGAL PRACTICES OR VIOLATIONS OF CORPORATE POLICIES. ECMC FOUNDATION HAS ESTABLISHED AN ANONYMOUS WHISTLEBLOWER TELEPHONE HOTLINE AND WEBSITE ADMINISTERED BY AN OUTSIDE VENDOR. |
| Form 990, Part VI, Line 6 Classes of members or stockholders | Educational Credit Management Corporation (ECMC) has one member. The member is the Board of Directors of ECMC Group, Inc., a Delaware non-stock, non-profit corporation. There are no stockholders. |
| Form 990, Part VI, Line 7a Members or stockholders electing members of governing body | ECMC Group, Inc. has the right to elect and/or approve all the directors of the Educational Credit Management Corporation's Board of Directors. |
| Form 990, Part VI, Line 7b Decisions requiring approval by members or stockholders | ECMC Group, Inc. retains the following authority over Educational Credit Management Corporation: 1. To authorize amendments to the Articles of Incorporation and Bylaws. 2. To approve the strategic and financial plans. 3. To elect and/or approve the members of the Board of Directors. 4. To oversee coordination of programs and services offered. 5. To authorize formation, governance and dissolution. |
| Form 990, Part VI, Line 11b Review of form 990 by governing body | All members of the Board of Directors and Executive Management are provided a copy of Form 990 to review and provide comments prior to filing. All members of the Board of Directors and Executive Management are provided with a copy of the final version of Form 990 before it has been filed. |
| Form 990, Part VI, Line 12c Conflict of interest policy | Officers, Directors and all employees 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 is included in the Code of Ethics and Business Conduct. Monitoring and enforcement of the policy is 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 where 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) and ECMC Group, Inc. executive compensation methodology. The Governance & Compensation Committee of the ECMC Group, Inc. Board of Directors is wholly comprised of independent, outside directors. In 2015, 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) and ECMC Group, Inc. executive compensation methodology. The Governance & Compensation Committee of the ECMC Group, Inc. Board of Directors is wholly comprised of independent, outside directors. In 2015, 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 2015. |
| Form 990, Part VIII, Line 2f Other Program Service Revenue | MISC INCOME - SRVS FOR PROFITS - Total Revenue: 69558, Related or Exempt Function Revenue: 69558, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ; GUARANTOR SERVICING GENERAL - Total Revenue: 1342782, Related or Exempt Function Revenue: 1342782, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ; - Total Revenue: , Related or Exempt Function Revenue: , Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ; |
| Form 990, Part XI, Line 9 Other changes in net assets | $7,030,219. On February 9, 2015, ECMC Foundation transferred the outstanding obligation and related temporarily restricted net assets of the ECMC Scholars Program to Educational Credit Management Corporation (ECMC). As a result, ECMC recorded a $7,030,219 transfer of net assets from a related party. The transfer is considered a common control transaction. Accounting guidance required the transfer of assets be recorded on ECMC's books at the carrying value of assets on ECMC Foundation's books. |
| Form 990, Part XI, Line 9 Other changes in net assets or fund balances | Transfer of Net Assets - 7030219; |
Schedule R IRS990ScheduleR
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp (3 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ECMC GROUP INC | |||||||||||
| 111 Washington Avenue South | Suite 1400 | Minneapolis | MN | 55401 | 411991995 | EDUCATION FINANCE | DE | 501(c)(3 | Type I | NA | false |
| ECMC FOUNDATION | |||||||||||
| 111 Washington Avenue South | Suite 1400 | Minneapolis | MN | 55401 | 411990628 | PROMOTE EDUCATION | DE | 501(c)(3 | Type I | ECMC GROUP INC | false |
| Zenith Education Group Inc | |||||||||||
| 111 Washington Avenue South | Suite 1400 | Minneapolis | MN | 55401 | 472237488 | Career Colleges | DE | 501(c)(3 | 2 | ECMC Group Inc | 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 | Controlled OrganizationControlledOrganizationInd |
|---|---|---|---|---|---|---|---|---|---|---|
| OAKDALE INVESTMENT MANAGEMENT CORPORATION | ||||||||||
| 111 Washington Avenue South | Suite 1400 | Minneapolis | MN | 55401 | 461549752 | HOLDING INVESTMENTS | DE | NA | C Corporation | false |
| ECMC HOLDINGS CORPORATION | ||||||||||
| 111 Washington Avenue South | Suite 1400 | Minneapolis | MN | 55401 | 411991992 | STRATEGIC OVERSIGHT | DE | NA | C Corporation | false |
| EDUCATIONAL CREDIT SERVICES COMPANY | ||||||||||
| 111 Washington Avenue South | Suite 1400 | Minneapolis | MN | 55401 | 411992001 | PRIVATE LOANS | DE | NA | C Corporation | false |
| ECMC RECORDS & REC MGMT CORPORATION | ||||||||||
| 111 Washington Avenue South | Suite 1400 | Minneapolis | MN | 55401 | 411989959 | DOCUMENT MANAGEMENT | DE | NA | C Corporation | false |
| ECMC MANAGEMENT SERVICES CORPORATION | ||||||||||
| 111 Washington Avenue South | Suite 1400 | Minneapolis | MN | 55401 | 411989960 | MANAGEMENT SERVICES | DE | NA | C Corporation | false |
| ECMC TECHNOLOGY SERVICE CORPORATION | ||||||||||
| 111 Washington Avenue South | Suite 1400 | Minneapolis | MN | 55401 | 411989958 | TECHNOLOGY SERVICES | DE | NA | C Corporation | false |
| ECMC Servicing Corporation | ||||||||||
| 10370 Peter A McCuen Blvd | Mather | CA | 95655 | 471154366 | Loan Servicing | DE | NA | C Corporation | false | |
| 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 | false | 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 | Yes (true) | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | Yes (true) | 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 |
Supplemental Information Detail SupplementalInformationDetail (15 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Schedule R, Part V, Line 1d OUTSTANDING LOANS TO EDUCATIONAL CREDIT SERVICES COMPANY | Educational Credit Management Corporation (ECMC) HAS TWO NOTE ARRANGEMENTS WITH EDUCATIONAL CREDIT SERVICES COMPANY (ECSC), A SUBSIDIARY OF ECMC HOLDINGS CORPORATION. THE LAST ADVANCES MADE BY ECMC UNDER THESE NOTES WAS MAY 2004. THE FIRST NOTE ALLOWS ECMC TO MAKE ADVANCES TO ECSC OF UP TO $30,000.000 TO FINANCE ECSC'S PRIVATE STUDENT LOAN PROGRAM. THE SECOND NOTE PROVIDES FOR ADVANCES FROM ECMC TO ECSC OF UP TO $10,000,000 TO FINANCE ONGOING OPERATIONS OF ECSC. AT YEAR END THERE WAS $1,948,171 AND $0 OUTSTANDING UNDER THE FIRST AND SECOND NOTES, RESPECTIVELY. |
| Schedule R, Part V, Line 1b GIFT, GRANT, OR CAPITAL CONTRIBUTION TO RELATED ORGANIZATION(S) | $245,000,000 CONTRIBUTION MADE BY Educational Credit Management Corporation (ECMC) TO ECMC GROUP, INC.: ECMC GROUP, INC. IS THE PARENT OF AND A SUPPORTING ORGANIZATION TO ECMC. ECMC GROUP, INC. RETAINS THE FOLLOWING AUTHORITY OVER ECMC: 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. ECMC GROUP, INC. AUTHORIZES THE DISTRIBUTION OF FUNDS FROM ECMC TO ECMC GROUP, INC. SECTION 422B OF THE HIGHER EDUCATION ACT OF 1965, AS AMENDED, ALLOWS ECMC TO INVEST FUNDS AT ITS DISCRETION IN ACCORDANCE WITH PRUDENT INVESTOR STANDARDS AND TO USE FUNDS FOR HIGHER EDUCATION RELATED ACTIVITIES. ECMC DISTRIBUTES FUNDS TO ECMC GROUP, INC. TO INVEST AND TO DISTRIBUTE TO ECMC FOUNDATION TO USE FOR HIGHER EDUCATION RELATED ACTIVITIES. |
| Schedule R, Part V, Line 1m PERFORMANCE OF SERVICES BY RELATED ORGANIZATION(S) | $7,482,789 COLLECTION AGENCY COMMISSION FEES WERE PAID TO PREMIERE CREDIT OF NORTH AMERICA, LLC, A SUBSIDIARY OF ECMC HOLDINGS CORPORATION, A RELATED ORGANIZATION. |
| Schedule R, Part V, Line 1n SHARING OF FACILITIES, EQUIPMENT, OR OTHER ASSETS WITH RELATED ORG(S) | $14,600,604 ALLOCATED EXPENSES FOR FACILITIES, EQUIPMENT, MAILING LISTS, OR OTHER ASSETS SHARED WITH ECMC GROUP, INC. |
| Schedule R, Part V, Line 1o SHARING OF PAID EMPLOYEES WITH RELATED ORGANIZATION(S) | $1,326,698 ALLOCATED EXPENSES FOR PAID EMPLOYEES SHARED WITH ECMC GROUP, INC. |
| Schedule R, Part V, Line 1q REIMBURSEMENT PAID By RELATED ORGANIZATION(S) FOR EXPENSES | $3,701,297 REIMBURSEMENT PAID By ECMC GROUP, INC. FOR EXPENSES. |
| Schedule R, Part V, Line 1o SHARING OF PAID EMPLOYEES WITH RELATED ORGANIZATION(S) | $224,447 ALLOCATED EXPENSES FOR PAID EMPLOYEES SHARED WITH ECMC FOUNDATION. |
| Schedule R, Part V, Line 1o SHARING OF PAID EMPLOYEES WITH RELATED ORGANIZATION(S) | $58,943 ALLOCATED EXPENSES FOR PAID EMPLOYEES SHARED WITH ECMC HOLDINGS CORPORATION. |
| Schedule R, Part V, Line 1q REIMBURSEMENT PAID By RELATED ORGANIZATION(S) FOR EXPENSES | $480,498 REIMBURSEMENT PAID By ECMC Foundation FOR EXPENSES. |
| Schedule R, Part V, Line 1p REIMBURSEMENT PAID To RELATED ORGANIZATION(S) FOR EXPENSES | $808,801 REIMBURSEMENT PAID To ECMC Holdings Corporation FOR EXPENSES. |
| Schedule R, Part I Disregarded Entities of Related Organizations | 1(a)-Name. Oakdale Student Loan Funding, LLC (27-1914648), 111 Washington Avenue South, Suite 1400, Minneapolis, MN 55401. 1(b)-Primary activity. Holding FFELP Loans. 1(c)-Legal domicile. DE. 1(f)-Direct controlling entity. ECMC Group, Inc. 2(a)-Name. ECMC Shared Services Company, LLC (81-0690960), 111 Washington Avenue South, Suite 1400, Minneapolis, MN 55401. 2(b)-Primary activity. Support Services Functions. 2(c)-Legal domicile. DE. 2(f)-Direct controlling entity. ECMC Group, Inc. 3(a)-Name. Premiere Credit of North America, LLC (35-2085743), 2002 Wellesley Blvd, #100, Indianapolis, IN 46219. 3(b)-Primary activity. Accounts Receivable Management. 3(c)-Legal domicile. IN. 3(f)-Direct controlling entity. ECMC Holdings Corporation. |
| Schedule R, Part V, Line 1s Other transfer of cash or property from related organization(s) | $7,030,219 outstanding obligation for grants under the Scholars Program and the related temporarily restricted net assets were transferred from ECMC Foundation on February 9, 2015. The College Place and the curriculum guides and training were also transferred to complement Educational Credit Management Corporation's (ECMC's) college access and financial literacy programs. |
| Schedule R, Part V, Line 1q REIMBURSEMENT PAID By RELATED ORGANIZATION(S) FOR EXPENSES | $89,913 REIMBURSEMENT PAID By Zenith Education Group, Inc. FOR EXPENSES. |
| Schedule R, Part V, Line 1p Reimbursement paid to related organization(s) for expenses | $178,465 paid to ECMC Records & Receivables Management Corporation for expenses. |
| Schedule R, Part V, Line 1l Performance of services for related organization(s) | $2,186,948 for default aversion services were paid by Zenith Education Group, Inc. |