2025-10-24T16:01:55+00:00 2024-12-31 346565596 ERNST & YOUNG US LLP 200 CLARENDON STREET BOSTON MA 021165072 990 2024-01-01 391090394 Ascendium Education Group Inc ASCE 6087332500 38 BUTTONWOOD COURT MADISON WI 53718 RICHARD GEORGE Chairman/Treasurer 6087332500 2025-10-24 true Lindsey Pigg P01268923 6172662000 2025-10-24 2024 2025-03-06 01:10:19Z RICHARD GEORGE 38 BUTTONWOOD COURT MADISON WI 53718 173402792 false X WWW.ASCENDIUMEDUCATION.ORG X 1967 WI ASCENDIUM EDUCATION GROUP, INC. OPERATES FOR THE SUPPORT AND BENEFIT OF ASCENDIUM EDUCATION SOLUTIONS, INC. 12 11 121 0 0 0 1186288 838887 77207155 94078627 9945 1426 78403388 94918940 2000 2500 0 16004166 18022739 0 0 -3474519 -3735287 12531647 14289952 65871741 80628988 3022286011 3555116130 5766249 5945911 3016519762 3549170219 ASCENDIUM EDUCATION GROUP, INC. OPERATES FOR THE SUPPORT AND BENEFIT OF ASCENDIUM EDUCATION SOLUTIONS, INC. false false 4336777 Impact investing is one of the key ways we accomplish our mission to champion opportunity for everyone. Our investments advance change to postsecondary education and workforce training systems through new technologies and solutions so more learners can achieve their academic and career goals through Education related venture equity and debt investments. 3149223 2500 838887 ASCENDIUM EDUCATION GROUP, INC. OPERATES FOR THE SUPPORT AND BENEFIT OF ASCENDIUM EDUCATION SOLUTIONS, INC. (SOLUTIONS). SOLUTIONS SUPPORTS INCREASED ACCESS TO AND SUCCESS IN POSTSECONDAY EDUCATION AS A NATIONAL GRANTMAKER, A FEDERAL STUDENT LOAN GUARANTY AGENCY AND A PROVIDER OF STUDENT SUCCESS SERVICES. 7486000 true false false false false false false false false false true true false false true false false true false false false false false false false false false false false true false false false false false false false false false false false false false false false true true true false false true 61 0 true 121 true false false false false false false false false false false false false X 12 11 false false false false false false false true true false false false true true true true true true true true false false IL X HOPE MERRY 6087332584 38 BUTTONWOOD COURT MADISON WI 53718 Richard D George - 23 CHAIR/PRES/CIO/TREAS 33.0 17.0 X X 868757 0 53748 DARREN KING - 1 DIRECTOR 2.0 1.0 X 23000 23000 0 DAVID J HANSON - 1 DIRECTOR 2.0 1.0 X 23000 23000 0 EMERSON BRUMBACK - 1 DIRECTOR - VICE CHAIRMAN 2.0 1.0 X 18500 18500 0 JOAN PRINCE - 1 DIRECTOR 3.0 0 X 46000 0 0 LESLIE LENZO - 1 DIRECTOR 2.0 1.0 X 23000 23000 0 LINDA HOESCHLER - 1 DIRECTOR 3.0 0 X 46000 0 0 MARIA GONZALEZ-KNAVEL - 1 DIRECTOR 2.0 1.0 X 23000 23000 0 RICHARD A WEISS - 1 DIRECTOR - SECRETARY 2.0 1.0 X 23000 23000 0 ROGER ERVIN - 1 DIRECTOR 3.0 0 X 55000 0 0 SCOTT KLUG - 1 DIRECTOR 2.0 1.0 X 27500 27500 0 THOMAS BOLDT - 1 DIRECTOR 3.0 0 X 55000 0 0 Brett G Lindquist - 3 VP - COMMS AND CMNTY ENGMT 6.0 39.0 X 297922 0 57118 Eric C Maly - 3 VP - INFO SECURITY AND TECH 12.0 33.0 X 292950 0 55026 Hope E Merry - 3 CHIEF FINANCIAL OFFICER 27.0 23.0 X 429284 0 58267 Keith Witham - 3 VP - EDUCATION PHILANTHROPY 44.0 0 X 317685 0 37563 Matthew R Harlowe - 3 DIRECTOR - INTERNAL AUDIT 43.0 2.0 X 260968 0 47704 Maureen L Harrill - 3 VP - HUMAN RESOURCES 12.0 33.0 X 245757 0 33564 Rebecca E Rapp - 3 GEN CNSL/CHIEF PRIVACY OFFICER/ASST SECRETARY 31.0 14.0 X 309412 0 43712 Alexander J Hammond SENIOR SECURITY ARCHITECT 45.0 0 X 184099 0 30308 Bethany M Miller - 3 DIRECTOR - LEARNING AND IMPACT 45.0 0 X 175283 0 21019 Carolynn E Lee DPTY DIR - EDUC GRANTMAKING 45.0 0 X 167394 0 18754 Jacqueline J Fairbairn - 3 CHIEF COMPLIANCE OFFICER 1.0 44.0 X 0 326146 47694 Jennifer M Krueger - 3 DEPUTY GENERAL COUNSEL 45.0 0 X 169546 0 38826 Jessa L Valentine DPTY DIR - LEARNING AND IMPACT 45.0 0 X 175994 0 36487 4258051 487146 579790 51 false true false MORGAN STANLEY 2000 Westchester Ave Purchase NY 10577 Investment Fees 1587570 APPLIED TECH SOLUTIONS LLC 150 N Sunny Slope Rd Ste 200 Milwaukee WI 53005 Information Services 660273 Ernst & Young US LLP 200 Plaza Dr Secaucus NJ 07094 Audit/Tax Service 339869 REINHART BOERNER VAN DEUREN SC 1000 N Water Street Milwaukee WI 54402 Legal Service 296920 WIPFLI LLP PO Box 8010 Wausau WI 54402 Consulting 143208 5 0 Contracted Revenue Share 900099 838887 838887 0 0 0 0 838887 88015837 88015837 0 0 84546642 80532352 -2048500 4014290 2048500 6062790 6062790 0 MISCELLANEOUS REVENUE 900099 1426 1426 0 0 0 0 1426 94918940 838887 0 94080053 X 2500 2500 5048174 1875584 3172590 10038851 8125008 1913843 764019 454404 309615 1512425 899967 612458 659270 392104 267166 325163 107305 217858 267973 231113 36860 5924347 4336777 1587570 1438838 291300 1147538 0 177351 148917 28434 711449 85918 625531 2133337 373343 1759994 838502 3492 835010 326552 249458 77094 186806 122481 64325 1172862 410 1172452 1388959 170 1388789 MISCELLANEOUS 128565 11465 117100 DUES & MEMBERSHIPS 71892 34837 37055 SERVICE ARRANGEMENT FEES 3002 3002 CORP SUPP FUNCT ALLOCATION -18830885 -10260553 -8570332 0 0 0 0 14289952 7486000 6803952 0 4946 709567 1079633598 1294319146 115716607 506969 0 0 0 0 5645000 6602000 2003438 1326316 42685736 3649322 40202549 39036414 0 1748426083 2180378512 20173500 21048500 10480290 11188706 3022286011 3555116130 5655744 5810939 0 0 0 0 0 0 0 0 110505 134972 5766249 5945911 X 3016519762 3549170219 0 3016519762 3549170219 3022286011 3555116130 X 80628988 244069969 207951500 X false true true false X X 1 ASCENDIUM EDUCATION SOLUTIONS INC 391853833 9 true 13899384 0 1 13899384 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0.0 X 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0.0 0 0.0 X true false false false false false false false false false false false false false false true 0 0 0 0 0 0 4413829 4413829 35596581 2741349 32855232 836620 548049 288571 1838706 359924 1478782 39036414 Closely-held equity interests Financial derivatives GSV FUND INVESTMENT 22939438 F RETHINK EDUCATION INVESTMENT 18921014 F BLACKROCK - INDEX FUND 302623534 F VANGUARD - INDEX FUND 291894647 F LEARN CAPITAL VENTURE PARTNERS 77927423 F DEGREED, INC. 999998 C UDEMY INC. EDUNAV, INC. C PABTWF 20390334 F MANAGED, MUTUAL & INDEX FUNDS 1427231025 F NEW U VENTURE PTNRS FUND,LP 8565393 F NEW MARKETS EDU PARTNERS III INVESTMENT 2480614 F ACHIEVE PARTNERS EDTECH BUYOUT FUND, LP 1602479 F VC 414 FUND I, LP 272626 C GREEN STREET IMPACT FUND I 3313835 F GENER8TOR FUND VIII 1216152 F 2180378512 Federal Income Taxes INTERCOMPANY PAYABLE 110350 PROPERTY TAXES FINANCE LEASE LIABILITY 20526 MISC. LIABILITIES 4096 134972 X X X X X false false false false false false false false false Richard D George - 23 CHAIR/PRES/CIO/TREAS 394582 0 471171 0 3004 0 15502 0 38246 0 922505 0 0 0 Matthew R Harlowe - 3 DIRECTOR - INTERNAL AUDIT 139349 0 121294 0 325 0 15480 0 32224 0 308672 0 0 0 Maureen L Harrill - 3 VP - HUMAN RESOURCES 130973 0 111111 0 3673 0 6138 0 27426 0 279321 0 0 0 Brett G Lindquist - 3 VP - COMMS AND CMNTY ENGMT 135986 0 161133 0 803 0 17688 0 39430 0 355040 0 0 0 Eric C Maly - 3 VP - INFO SECURITY AND TECH 150901 0 141249 0 800 0 18052 0 36974 0 347976 0 0 0 Hope E Merry - 3 CHIEF FINANCIAL OFFICER 227348 0 201163 0 773 0 22316 0 35951 0 487551 0 0 0 Rebecca E Rapp - 3 GEN CNSL/CHIEF PRIVACY OFFICER/ASST SECRETARY 142468 0 166350 0 594 0 6169 0 37543 0 353124 0 0 0 Keith Witham - 3 VP - EDUCATION PHILANTHROPY 181082 0 136117 0 486 0 18409 0 19154 0 355248 0 0 0 Jacqueline J Fairbairn - 3 CHIEF COMPLIANCE OFFICER 0 147773 0 176234 0 2139 0 23660 0 24034 0 373840 0 0 Alexander J Hammond SENIOR SECURITY ARCHITECT 156758 0 27045 0 296 0 5227 0 25081 0 214407 0 0 0 Jennifer M Krueger - 3 DEPUTY GENERAL COUNSEL 143900 0 25124 0 522 0 5636 0 33190 0 208372 0 0 0 Carolynn E Lee DPTY DIR - EDUC GRANTMAKING 152239 0 14855 0 300 0 3001 0 15753 0 186148 0 0 0 Bethany M Miller - 3 DIRECTOR - LEARNING AND IMPACT 161153 0 13795 0 335 0 2065 0 18954 0 196302 0 0 0 Jessa L Valentine DPTY DIR - LEARNING AND IMPACT 166318 0 9154 0 522 0 6631 0 29856 0 212481 0 0 0 Form 990, Part VI, Line 11b Review of form 990 by governing body ON AN ANNUAL BASIS, THE CHAIRMAN OF THE BOARD, PRESIDENT AND CEO, THE AUDIT COMMITTEE AND BOARD REVIEWS THE FORM 990 PRIOR TO FILING. THE CONFLICTS OF INTEREST QUESTIONNAIRES ARE COMPLETED BY EACH DIRECTOR AND REVIEWED PRIOR TO FILING THE FORM 990. Form 990, Part VI, Line 12c Conflict of interest policy ANNUALLY, DIRECTORS AND OFFICERS SIGN A CONFLICT OF INTEREST DOCUMENT WHICH DISCLOSES ANY CONFLICTS. THE SIGNED DOCUMENTS ARE REVIEWED ANNUALLY BY THE CHAIRMAN OF THE BOARD. IF A DISCLOSED CONFLICT OCCURS, THE INDIVIDUAL ABSTAINS FROM DISCUSSION AND VOTING ON TOPICS WHERE A CONFLICT OF INTEREST EXISTS. ALL DIRECTORS, OFFICERS AND EMPLOYEES ARE SUBJECT TO THE HUMAN RESOURCES CODE OF ETHICS TO MAINTAIN THE HIGHEST ETHICAL AND LEGAL STANDARDS OF BUSINESS CONDUCT. Form 990, Part VI, Line 15a Process to establish compensation of top management official THE COMPENSATION OF THE CEO AND ALL OF THE OFFICERS IS DETERMINED ANNUALLY BY THE PERSONNEL POLICY COMMITTEE OF THE BOARD OF DIRECTORS. THE CEO IS ROUTINELY EXCUSED AND ABSTAINS FROM DISCUSSION AND/OR VOTING ON ANY MATTERS RELATED TO HIS OWN COMPENSATION AND BENEFITS. THE PERSONNEL POLICY COMMITTEE'S REPORT IS SUBMITTED TO THE BOARD OF DIRECTORS FOR APPROVAL. THE DECISIONS ARE DOCUMENTED IN THE BOARD MINUTES. EVERY TWO TO THREE YEARS, AN INDEPENDENT COMPENSATION STUDY IS PERFORMED, LAST COMPENSATION STUDY WAS PERFORMED IN 2022. Form 990, Part VI, Line 15b Process to establish compensation of other employees THE COMPENSATION OF THE CEO AND ALL OF THE OFFICERS IS DETERMINED ANNUALLY BY THE PERSONNEL POLICY COMMITTEE OF THE BOARD OF DIRECTORS. THE CEO IS ROUTINELY EXCUSED AND ABSTAINS FROM DISCUSSION AND/OR VOTING ON ANY MATTERS RELATED TO HIS OWN COMPENSATION AND BENEFITS. THE PERSONNEL POLICY COMMITTEE'S REPORT IS SUBMITTED TO THE BOARD OF DIRECTORS FOR APPROVAL. THE DECISIONS ARE DOCUMENTED IN THE BOARD MINUTES. EVERY TWO TO THREE YEARS, AN INDEPENDENT COMPENSATION STUDY IS PERFORMED, LAST COMPENSATION STUDY WAS PERFORMED IN 2022. Form 990, Part VI, Line 19 Required documents available to the public FEDERAL TAX LAW DOES NOT REQUIRE THAT SUCH DOCUMENTS BE MADE PUBLICLY AVAILABLE. DOCUMENTS ARE AVAILABLE UPON SPECIFIC REQUEST. Form 990, Part VII, Section A, Line 1a PART VII, SECTION A, QUESTION 1A (1) DIRECTORS NORMALLY ATTEND 3-4 BOARD MEETINGS AND 3-4 COMMITTEE MEETINGS PER YEAR IN ADDITION TO TELEPHONIC CONFERENCES AND INDIVIDUAL MEETINGS WITH OFFICERS. DIRECTORS DEVOTE AN AVERAGE OF 1-3 HOURS PER WEEK TO THEIR POSITION(S). (2) COMPENSATION LINE INCLUDES COMPENSATION FOR GENERAL COUNSEL SERVICES AND AFFILIATE GROUP RESPONSIBILITIES. INSIDE DIRECTORS ARE NOT ELIGIBLE FOR BOARD COMPENSATION. (3) NON-OPERATING OFFICER POSITION NOT SEPARATELY COMPENSATED. Form 990, Part IX, Line 24d PART IX, LINE 24d COSTS ARE CHARGED TO THE APPLICABLE MANAGING AREA AND THEN FURTHER ALLOCATED TO SUPPORTING SERVICES AND PROGRAMS THAT EACH AREA SUPPORTS. COSTS ARE ALLOCATED TO SUPPORTING SERVICES AND PROGRAMS BASED ON ESTIMATES MADE BY MANAGEMENT, TAKING INTO ACCOUNT THE NATURE OF THE EXPENSE AND HOW IT RELATES TO THE FUNCTIONAL AREAS. COSTS ARE TYPICALLY ALLOCATED BASED ON RESOURCES USED OR TIME AND EFFORT. Form 990, Part IX, Line 11g Other Fees CONSULTING - Total Expense: 326805, Program Service Expense: 25045, Management and General Expenses: 301760, Fundraising Expenses: ; OTHER PROFESSIONAL SERVICES - Total Expense: 336010, Program Service Expense: 234153, Management and General Expenses: 101857, Fundraising Expenses: ; DELTA DENTAL - Total Expense: 13084, Program Service Expense: 13084, Management and General Expenses: , Fundraising Expenses: ; TRANSFER PRICING SERVICES - Total Expense: 15750, Program Service Expense: 15750, Management and General Expenses: , Fundraising Expenses: ; RECRUITING - Total Expense: 3268, Program Service Expense: 3268, Management and General Expenses: , Fundraising Expenses: ; IT SPECIALIZED SERVICES - Total Expense: 661449, Program Service Expense: , Management and General Expenses: 661449, Fundraising Expenses: ; RETIREMENT ADMINISTRATION - Total Expense: 73831, Program Service Expense: , Management and General Expenses: 73831, Fundraising Expenses: ; ADMINISTRATIVE FEES - Total Expense: 8641, Program Service Expense: , Management and General Expenses: 8641, Fundraising Expenses: ; Form 990, Part XI, Line 9 Other changes in net assets or fund balances OPERATING FUND CONTRIBUTION TRANSFER TO AEG FROM ASCENDIUM EDUCATION SOLUTIONS, INC. - 210000000; PAID IN CAPITAL - NORTHSTAR EDUCATION SERVICES, LLC 2024 - -2048500; Total - XXX-XX-XXXX; ASCENDIUM EDUCATION SOLUTIONS INC 38 BUTTONWOOD CT MADISON WI 53718 391853833 GTY STDNT LNS WI 501(c)(3) 10 GROUP true NORTHSTAR EDUCATION SERVICES LLC 38 BUTTONWOOD CT MADISON WI 53718 352626495 SERVICE WI GROUP C Corporation -4984542 1565894 1 true false false false false false false false false false false false true false false false true true false false ASCENDIUM EDUCATION SOLUTIONS INC L 11502308 ACTUAL COST ASCENDIUM EDUCATION SOLUTIONS INC P 59978 ACTUAL COST ASCENDIUM EDUCATION SOLUTIONS INC Q 282361 ACTUAL COST NORTHSTAR EDUCATION SERVICES LLC L 970718 ACTUAL COST