ECMC GROUP INC: Form 990, tax year 2013
View the entire original 990 at ProPublica ↗
- Organization
- ECMC GROUP INC (EIN 41-1991995)
- Tax period
- 2013-01-01 to 2013-12-31
- Filed
- 2014-11-11
- IRS object ID
- 201403159349301715
- Schema version
- 2013v3.1
- 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
- Form 990
- Schedule A
- Schedule B
- Schedule D
- Schedule F
- Schedule I
- Schedule J
- Schedule O
- Schedule R
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2014-11-11T12:00:10-06:00 | ReturnTs |
| Tax Period End | 2013-12-31 | 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 | BusinessNameLine1 |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 225 SOUTH 6TH STREET SUITE 2300 | AddressLine1 |
| City | MINNEAPOLIS | City |
| State | MN | State |
| ZIP Code | 55402 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2013-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 411991995 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ECMC GROUP INC | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | ECMC | BusinessNameControlTxt |
| Phone | 6512210566 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1 Imation Place | AddressLine1 |
| Address Line2 | Building 2 | AddressLine2 |
| City | Oakdale | City |
| State | MN | State |
| ZIP Code | 551283422 | ZIPCode |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | GREGORY VAN GUILDER | PersonNm |
| Person Title | CFO | PersonTitleTxt |
| Signature | 2014-11-10 | 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 | 2013 | TaxYr |
| Build TS | 2015-11-30 17:44:51Z | BuildTS |
Form 990 IRS990
Principal Ofcr Business Address PrincipalOfcrBusinessAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | DAVID HAWN | BusinessNameLine1 |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1 Imation Place | AddressLine1 |
| City | Oakdale | City |
| State | MN | State |
| ZIP Code | 551283422 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $372,329,145 | GrossReceiptsAmt |
| Group Return For Affiliates | false | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | N/A | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 2000 | FormationYr |
| Legal Domicile State | DE | LegalDomicileStateCd |
| Activity Or Mission | ECMC GROUP, INC. SUPPORTS THE FURTHERANCE OF THE EXEMPT PURPOSE OF EDUCATIONAL CREDIT MANAGEMENT CORPORATION BY PROVIDING MANAGEMENT/PLANNING SERVICES THAT SUPPORT STUDENTS AND POST-SECONDARY INSTITUTIONS IN THE AREAS OF HIGHER EDUCATION FINANCE AND COLLEGE ACCESS, RETENTION, AND SUCCESS. ECMC GROUP, INC. ALSO FUNDS THE PROGRAMS AND INITIATIVES OF ECMC FOUNDATION. ECMC GROUP, INC. IS A NONPROFIT CORPORATION THAT PROVIDES SERVICES IN SUPPORT OF HIGHER EDUCATION FINANCE. ECMC GROUP'S WORK SPANS SEVERAL BUSINESS LINES, BUT AT THE CORE OF OUR NONPROFIT ACTIVITIES IS PROVIDING SUPPORT FOR THE ADMINISTRATION OF FEDERAL STUDENT LOAN PROGRAMS AS WELL AS PROMOTING STUDENT FINANCIAL LITERACY AND COLLEGE ACCESS, RETENTION AND SUCCESS. ECMC GROUP, INC. ALSO FUNDS THE PROGRAMS AND INITIATIVES OF ECMC FOUNDATION; ECMC FOUNDATION HELPS LOW-INCOME INDIVIDUALS AS WELL AS THOSE WHO MAY BE THE FIRST IN THEIR FAMILY TO ATTEND COLLEGE. | ActivityOrMissionDesc |
| Voting Members Governing Body | 10 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 9 | VotingMembersIndependentCnt |
| Total Employee | 22 | TotalEmployeeCnt |
| Total Volunteers | 0 | TotalVolunteersCnt |
| Total Gross UBI | $285,447 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $284,447 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $337,911,123 | PYContributionsGrantsAmt |
| CY Contributions Grants | $360,978,478 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $9,079,185 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $7,408,429 | CYProgramServiceRevenueAmt |
| PY Investment Income | $85,941 | PYInvestmentIncomeAmt |
| CY Investment Income | $3,942,238 | CYInvestmentIncomeAmt |
| PY Other Revenue | $0 | PYOtherRevenueAmt |
| CY Other Revenue | $0 | CYOtherRevenueAmt |
| PY Total Revenue | $347,076,249 | PYTotalRevenueAmt |
| CY Total Revenue | $372,329,145 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $53,523,229 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $153,936,471 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $9,341,084 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $10,695,465 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $11,649,587 | PYOtherExpensesAmt |
| CY Other Expenses | $6,913,962 | CYOtherExpensesAmt |
| PY Total Expenses | $74,513,900 | PYTotalExpensesAmt |
| CY Total Expenses | $171,545,898 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $272,562,349 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $200,783,247 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $577,254,653 | TotalAssetsBOYAmt |
| Total Assets EOY | $841,030,758 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $180,412,338 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $184,604,755 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $396,842,315 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $656,426,003 | NetAssetsOrFundBalancesEOYAmt |
| Mission | THE MISSION OF ECMC GROUP, INC. IS TO HELP STUDENTS RECOGNIZE AND REALIZE THEIR POTENTIAL BY INVESTING IN, CREATING AND PROVIDING INNOVATIVE EDUCATION SOLUTIONS THAT SUPPORT SCHOOLS AND IMPROVE STUDENT EDUCATIONAL OUTCOMES. | MissionDesc |
| Significant New Program Srvc | false | SignificantNewProgramSrvcInd |
| Significant Change | false | SignificantChangeInd |
| Expense | $1,352,282 | ExpenseAmt |
| Grant | $0 | GrantAmt |
| Revenue | $7,408,429 | RevenueAmt |
| Desc | LOAN PORTFOLIO SERVICING: ECMC GROUP, INC. HAS AN ELIGIBLE LENDER TRUST AGREEMENT WITH US BANK NATIONAL ASSOCIATION. US BANK SERVES AS AN ELIGIBLE LENDER TRUST (ELT) FOR ECMC GROUP, INC. THROUGH THE ELT, ECMC GROUP, INC. PURCHASES FFELP REHABILITATED STUDENT LOANS FROM EDUCATIONAL CREDIT MANAGEMENT CORPORATION, A RELATED ENTITY, AND OTHER GUARANTY AGENCIES. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $866,987 | ExpenseAmt |
| Grant | $0 | GrantAmt |
| Revenue | $0 | RevenueAmt |
| Desc | THROUGH THE PUBLIC POLICY PROGRAM, ECMC GROUP, INC. SHARES INFORMATION AMONG ECMC GROUP-RELATED MEMBERS ON LEGISLATIVE PROPOSALS AND GOVERNMENTAL REGULATIONS THAT IMPACT THEIR OPERATIONS. THE PROGRAM ENABLES ECMC GROUP, INC. AFFILIATES TO MONITOR PUBLIC POLICY MATTERS AND PROVIDE NONPARTISAN ANALYSIS AND RESEARCH TO POLICYMAKERS, THOUGHT LEADERS AND THE GENERAL PUBLIC. | Desc |
Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $98,500 | ExpenseAmt |
| Grant | $98,500 | GrantAmt |
| Revenue | $0 | RevenueAmt |
| Desc | GRANTS AND SPONSORSHIPS SUPPLIED BY ECMC GROUP, INC. TO SCHOOLS AND INDIVIDUALS IN SUPPORT OF ITS TAX EXEMPT PURPOSE. | Desc |
Prog Srvc Accom Acty Other ProgSrvcAccomActyOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $153,837,971 | ExpenseAmt |
| Grant | $153,837,971 | GrantAmt |
| Revenue | $0 | RevenueAmt |
| Desc | CONTRIBUTIONS MADE TO ECMC FOUNDATION TO FUND INNOVATIVE OUTREACH PROGRAMS AND SCHOLARSHIP PROGRAMS TO CONVEY TO STUDENTS THE IMPORTANCE OF COMPLETING HIGH SCHOOL AND TO DEVELOP AND DISTRIBUTE PROGRAMS THAT FOCUS ON ACCESS, RETENTION AND SUCCESS IN HIGHER EDUCATION, THEREBY HELPING LOW-INCOME INDIVIDUALS AS WELL AS THOSE WHO MAY BE THE FIRST IN THEIR FAMILY TO ATTEND COLLEGE FURTHERING THEIR EDUCATION GOALS. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Prog Srvc Expense | $153,837,971 | TotalOtherProgSrvcExpenseAmt |
| Total Other Prog Srvc Grant | $153,837,971 | TotalOtherProgSrvcGrantAmt |
| Total Other Prog Srvc Revenue | $0 | TotalOtherProgSrvcRevenueAmt |
| Total Program Service Expenses | $156,155,740 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (true) | DescribedInSection501c3Ind |
| Schedule B Required | Yes (true) | ScheduleBRequiredInd |
| Political Campaign Acty | false | PoliticalCampaignActyInd |
| Lobbying Activities | false | LobbyingActivitiesInd |
| 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 | Yes (true) | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | Yes (true) | ReportProgramRelatedInvstInd |
| Report Other Assets | false | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (true) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (true) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | false | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (true) | ConsolidatedAuditFinclStmtInd |
| School Operating | false | SchoolOperatingInd |
| Foreign Office | false | ForeignOfficeInd |
| Foreign Activities | Yes (true) | ForeignActivitiesInd |
| More Than5000 K To Org | false | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | false | MoreThan5000KToIndividualsInd |
| Professional Fundraising | false | ProfessionalFundraisingInd |
| Fundraising Activities | false | FundraisingActivitiesInd |
| Gaming Activities | false | GamingActivitiesInd |
| Operate Hospital | false | OperateHospitalInd |
| Grants To Organizations | Yes (true) | GrantsToOrganizationsInd |
| Grants To Individuals | Yes (true) | GrantsToIndividualsInd |
| Schedule J Required | Yes (true) | ScheduleJRequiredInd |
| Tax Exempt Bonds | false | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | false | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | false | PYExcessBenefitTransInd |
| Loan Outstanding | false | LoanOutstandingInd |
| Grant To Related Person | false | GrantToRelatedPersonInd |
| Business Rln With Org Mem | false | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | false | BusinessRlnWithFamMemInd |
| Business Rln With Officer Ent | false | BusinessRlnWithOfficerEntInd |
| Deductible Non Cash Contri | false | DeductibleNonCashContriInd |
| Deductible Art Contribution | false | DeductibleArtContributionInd |
| Terminate Operations | false | TerminateOperationsInd |
| Partial Liquidation | false | PartialLiquidationInd |
| Disregarded Entity | Yes (true) | DisregardedEntityInd |
| Related Entity | Yes (true) | RelatedEntityInd |
| Related Organization Ctrl Ent | Yes (true) | RelatedOrganizationCtrlEntInd |
| Transaction With Control Ent | Yes (true) | TransactionWithControlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | false | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | false | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (true) | ScheduleORequiredInd |
| IRP Document | 62 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Employee | 22 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (true) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | Yes (true) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (true) | Form990TFiledInd |
| Foreign Financial Account | false | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | false | TaxablePartyNotificationInd |
| Nondeductible Contributions | false | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | false | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | false | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | false | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | false | PayPremiumsPrsnlBnftCntrctInd |
| Indoor Tanning Services | false | IndoorTanningServicesInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 10 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 9 | 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 | 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 | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 6512210566 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1 Imation Place Building 2 | AddressLine1 |
| City | Oakdale | City |
| State | MN | State |
| ZIP Code | 551283422 | ZIPCode |
Form990 Part VII Section A Form990PartVIISectionAGrp (25 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 |
|---|---|---|---|---|---|---|---|---|---|
| RICHARD BOYLE | |||||||||
| DIRECTOR/CEO/PRESIDENT | 77.00 | 4.00 | Yes (X) | Yes (X) | $908,287 | $0 | $54,629 | ||
| GARY COOK | |||||||||
| DIRECTOR | 5.00 | 3.00 | Yes (X) | $71,559 | $3,000 | $0 | |||
| I KING JORDAN | |||||||||
| DIRECTOR | 4.00 | 3.00 | Yes (X) | $63,000 | $3,000 | $0 | |||
| JACK O'CONNELL | |||||||||
| DIRECTOR | 4.00 | 3.00 | Yes (X) | $59,000 | $3,000 | $0 | |||
| JAMES MCKEON | |||||||||
| DIRECTOR | 7.00 | 4.00 | Yes (X) | $89,500 | $8,500 | $0 | |||
| JOHN DEPODESTA | |||||||||
| DIRECTOR | 11.00 | 4.00 | Yes (X) | $91,059 | $14,500 | $0 | |||
| MAURICE SALTER | |||||||||
| DIRECTOR | 7.00 | 4.00 | Yes (X) | $74,000 | $9,500 | $0 | |||
| PETER TAYLOR | |||||||||
| DIRECTOR | 4.00 | 3.00 | Yes (X) | $59,000 | $0 | $0 | |||
| ROBERT STEIN | |||||||||
| BOARD CHAIR | 10.00 | 4.00 | Yes (X) | $97,500 | $9,000 | $0 | |||
| ROBERTA COOPER RAMO | |||||||||
| DIRECTOR | 6.00 | 4.00 | Yes (X) | $77,000 | $4,000 | $0 | |||
| CRAIG ALLEN | |||||||||
| SR VICE PRESIDENT | 12.00 | 35.00 | Yes (X) | $47,561 | $201,123 | $45,228 | |||
| DANIEL FISHER | |||||||||
| SEC/GENERAL COUNSEL | 44.00 | 6.00 | Yes (X) | $469,984 | $0 | $76,850 | |||
| DAVID HAWN | |||||||||
| CHIEF OPERATING OFFICER | 56.00 | 1.00 | Yes (X) | $634,343 | $0 | $81,880 | |||
| EDWARD SPEAR | |||||||||
| CIO OF ECMC | 0.00 | 55.00 | Yes (X) | $432,417 | $0 | $60,722 | |||
| GREGORY VAN GUILDER | |||||||||
| CHIEF FINANCIAL OFFICER | 52.00 | 0.00 | Yes (X) | $658,773 | $0 | $83,299 | |||
| HEATHER RENNER | |||||||||
| EXEC VICE PRESIDENT | 42.00 | 0.00 | Yes (X) | $291,363 | $0 | $51,976 | |||
| HEIDI JOHNSON | |||||||||
| Exec Vice President | 13.00 | 36.00 | Yes (X) | $0 | $419,064 | $75,219 | |||
| GERALDINE GJESDAHL | |||||||||
| VICE PRESIDENT | 38.00 | 13.00 | $212,575 | $0 | $26,020 | Yes (X) | |||
| HUGH MCSHERRY | |||||||||
| VICE PRESIDENT | 5.00 | 46.00 | $214,667 | $0 | $52,097 | Yes (X) | |||
| JOSHUA SUSSER | |||||||||
| Director | 41.00 | 0.00 | $248,721 | $0 | $61,272 | Yes (X) | |||
| KATHLEEN KING | |||||||||
| CONTROLLER | 49.00 | 0.00 | $293,777 | $0 | $50,904 | Yes (X) | |||
| MATTHEW MIKULSKI | |||||||||
| SR VICE PRESIDENT | 43.00 | 7.00 | $254,562 | $0 | $59,024 | Yes (X) | |||
| FRED CHAMBERS | |||||||||
| FORMER VICE PRESIDENT | 0.00 | 42.00 | $149,983 | $0 | $22,045 | Yes (X) | |||
| JAMES MURRAY | |||||||||
| FORMER DIRECTOR | 0.00 | 0.00 | $41,266 | $0 | $0 | Yes (X) | |||
| STEVEN WELLVANG | |||||||||
| FORMER SEC/GENERAL COUNSEL | 0.00 | 38.00 | $0 | $547,655 | $18,591 | Yes (X) | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $5,539,897 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $1,222,342 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $819,756 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 15 | 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/AddressLine1 | CityContractorAddress/USAddress/City | StateContractorAddress/USAddress/State | ZIP CodeContractorAddress/USAddress/ZIPCode | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| E CAPITAL ADVISORS | |||||
| 7700 FRANCE AVE SOUTH STE 370 | MINNEAPOLIS | MN | 55435 | CONSULTING | $1,284,457 |
| EMC | |||||
| 176 SOUTH STREET | HOPKINTON | MA | 01748 | IT CONSULTING | $1,109,262 |
| BAKER TILLY VIRCHOW KRAUSE LLP | |||||
| 115 SOUTH 84TH ST STE 400 | MILWAUKEE | WI | 53214 | ACCOUNTING | $829,319 |
| FROST BROWN TODD LLC | |||||
| 400 WEST MARKET STREET 32ND FLOOR | LOUISVILLE | KY | 402023363 | LEGAL | $758,642 |
| HALL CAPITAL PARTNERS | |||||
| ONE MARITIME PLAZA SUITE 500 | SAN FRANCISCO | CA | 94111 | INVESTMENT MANAGEMENT | $737,195 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 17 | CntrctRcvdGreaterThan100KCnt |
| Related Organizations | $360,978,478 | RelatedOrganizationsAmt |
| Total Contributions | $360,978,478 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (5 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| STUDENT LOAN PORTFOLIO | 900099 | $7,408,429 | $7,408,429 |
| $0 | |||
| $0 | |||
| $0 | |||
| $0 |
Total Oth Program Service Rev TotalOthProgramServiceRevGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $7,408,429 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $3,942,238 | TotalRevenueColumnAmt |
| Unrelated Business Revenue | $285,447 | UnrelatedBusinessRevenueAmt |
| Exclusion | $3,656,791 | ExclusionAmt |
Incm From Invest Bond Proceeds IncmFromInvestBondProceedsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Royalties Revenue RoyaltiesRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $0 | RealAmt |
| Personal | $0 | PersonalAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $0 | SecuritiesAmt |
| Other | $0 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Net Incm From Fundraising Evt NetIncmFromFundraisingEvtGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Net Income From Gaming NetIncomeFromGamingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Net Income Or Loss NetIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Other Revenue Misc OtherRevenueMiscGrp (3 entries)
| Total Revenue ColumnTotalRevenueColumnAmt |
|---|
| $0 |
| $0 |
| $0 |
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 | $372,329,145 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $7,408,429 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $285,447 | UnrelatedBusinessRevenueAmt |
| Exclusion | $3,656,791 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $153,839,971 | TotalAmt |
| Program Services | $153,839,971 | ProgramServicesAmt |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $96,500 | TotalAmt |
| Program Services | $96,500 | ProgramServicesAmt |
Foreign Grants ForeignGrantsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Benefits To Members BenefitsToMembersGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,075,751 | TotalAmt |
| Program Services | $310,609 | ProgramServicesAmt |
| Management And General | $3,765,142 | ManagementAndGeneralAmt |
Comp Disqual Persons CompDisqualPersonsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,963,590 | TotalAmt |
| Program Services | $62,655 | ProgramServicesAmt |
| Management And General | $4,900,935 | ManagementAndGeneralAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $476,601 | TotalAmt |
| Program Services | $5,669 | ProgramServicesAmt |
| Management And General | $470,932 | ManagementAndGeneralAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $816,050 | TotalAmt |
| Program Services | $9,690 | ProgramServicesAmt |
| Management And General | $806,360 | ManagementAndGeneralAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $363,473 | TotalAmt |
| Program Services | $4,323 | ProgramServicesAmt |
| Management And General | $359,150 | ManagementAndGeneralAmt |
Fees For Services Management FeesForServicesManagementGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $245,139 | TotalAmt |
| Program Services | $136,520 | ProgramServicesAmt |
| Management And General | $108,619 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $345,020 | TotalAmt |
| Program Services | $75 | ProgramServicesAmt |
| Management And General | $344,945 | ManagementAndGeneralAmt |
Fees For Services Lobbying FeesForServicesLobbyingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Fees For Services Prof Fundraising FeesForServicesProfFundraising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $556,457 | TotalAmt |
| Program Services | $556,457 | ProgramServicesAmt |
| Management And General | $0 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,693,712 | TotalAmt |
| Program Services | $1,043,613 | ProgramServicesAmt |
| Management And General | $1,650,099 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
| Program Services | $0 | ProgramServicesAmt |
| Management And General | $0 | ManagementAndGeneralAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $514,939 | TotalAmt |
| Program Services | $40,199 | ProgramServicesAmt |
| Management And General | $474,740 | ManagementAndGeneralAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $196,288 | TotalAmt |
| Program Services | $1,692 | ProgramServicesAmt |
| Management And General | $194,596 | ManagementAndGeneralAmt |
Royalties RoyaltiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $898,118 | TotalAmt |
| Program Services | $23,940 | ProgramServicesAmt |
| Management And General | $874,178 | ManagementAndGeneralAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $560,710 | TotalAmt |
| Program Services | $37,300 | ProgramServicesAmt |
| Management And General | $523,410 | ManagementAndGeneralAmt |
Pymt Travel Entrtnmnt Pub Ofcl PymtTravelEntrtnmntPubOfclGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $62,415 | TotalAmt |
| Program Services | $2,263 | ProgramServicesAmt |
| Management And General | $60,152 | ManagementAndGeneralAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
| Program Services | $0 | ProgramServicesAmt |
| Management And General | $0 | ManagementAndGeneralAmt |
Payments To Affiliates PaymentsToAffiliatesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
| Program Services | $0 | ProgramServicesAmt |
| Management And General | $0 | ManagementAndGeneralAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $309,623 | TotalAmt |
| Program Services | $0 | ProgramServicesAmt |
| Management And General | $309,623 | ManagementAndGeneralAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $187,785 | TotalAmt |
| Program Services | $2,737 | ProgramServicesAmt |
| Management And General | $185,048 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp (3 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt |
|---|---|---|---|
| REINSTATEMENT OF WRITE-OFF | -$49,340 | -$49,340 | |
| MISCELLANEOUS EXPENSES | $17,877 | $16,637 | $1,240 |
| USAGE ON SHARED ASSETS | $375,219 | $14,230 | $360,989 |
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 | $171,545,898 | TotalAmt |
| Program Services | $156,155,740 | ProgramServicesAmt |
| Management And General | $15,390,158 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Total Joint Costs TotalJointCostsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $155,154,304 | BOYAmt |
| EOY | $87,900,002 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $159,546,499 | BOYAmt |
| EOY | $63,922,767 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $221,655 | BOYAmt |
| EOY | $32,881 | EOYAmt |
Receivables From Officers Etc ReceivablesFromOfficersEtcGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Rcvbl From Disqualified Prsn RcvblFromDisqualifiedPrsnGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,683,945 | BOYAmt |
| EOY | $1,517,573 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $3,875,638 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $345,352 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $724,667 | BOYAmt |
| EOY | $3,530,286 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $124,553,171 | BOYAmt |
| EOY | $232,763,762 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $20,276,281 | BOYAmt |
| EOY | $339,578,972 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $108,871,276 | BOYAmt |
| EOY | $104,369,045 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,222,855 | BOYAmt |
| EOY | $7,415,470 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $577,254,653 | BOYAmt |
| EOY | $841,030,758 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $127,794,453 | BOYAmt |
| EOY | $79,705,950 | EOYAmt |
Loans From Officers Directors LoansFromOfficersDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $52,617,885 | BOYAmt |
| EOY | $104,898,805 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $180,412,338 | BOYAmt |
| EOY | $184,604,755 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows SFAS117 | Yes (X) | OrganizationFollowsSFAS117Ind |
Unrestricted Net Assets UnrestrictedNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $396,842,315 | BOYAmt |
| EOY | $656,426,003 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $396,842,315 | BOYAmt |
| EOY | $656,426,003 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $577,254,653 | BOYAmt |
| EOY | $841,030,758 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $200,783,247 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $42,315,743 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $16,484,698 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | false | AccountantCompileOrReviewInd |
| FS Audited | Yes (true) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Consolidated Basis Fincl Stmt | Yes (X) | ConsolidatedBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (true) | AuditCommitteeInd |
| Federal Grant Audit Required | false | FederalGrantAuditRequiredInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Supporting Organization509a3 | Yes (X) | SupportingOrganization509a3Ind |
| Supporting Org Type2 | Yes (X) | SupportingOrgType2Ind |
| Certification | Yes (X) | CertificationInd |
| Contribution Controller | false | ContributionControllerInd |
| Contribution Family | false | ContributionFamilyInd |
| Contribution35 Controlled | false | Contribution35ControlledInd |
Supported Org Information SupportedOrgInformationGrp
Supported Organization Name SupportedOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | EDUCATIONAL CREDIT MGMT CORP | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 411778617 | EIN |
| Organization Type | 9 | OrganizationTypeDesc |
| Governing Document Listed | Yes (true) | GoverningDocumentListedInd |
| Supported Org Notified | Yes (true) | SupportedOrgNotifiedInd |
| US Organized | Yes (true) | USOrganizedInd |
| Support | $866,987 | SupportAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Supported Organizations Total | 1 | SupportedOrganizationsTotalCnt |
| Support Sum | $866,987 | SupportSumAmt |
Form990 Schedule A Part IV Form990ScheduleAPartIVGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | SCHEDULE A, PART I, LINE 11, AN ORGANIZATION ORGANIZED TO PERFORM AND PROVIDE | FormAndLineReferenceDesc |
| Explanation | ECMC GROUP, INC., THE SUPPORTING ORGANIZATION, RETAINS THE FOLLOWING AUTHORITY OVER EDUCATIONAL CREDIT MANAGEMENT CORPORATION, THE SUPPORTED ORGANIZATION, AND, THEREFORE, HAS CONTROL 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. | ExplanationTxt |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
Schedule D IRS990ScheduleD
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Book Value | $0 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Book Value | $0 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $18,592 | OtherCostOrOtherBasisAmt |
| Depreciation | $13,324 | DepreciationAmt |
| Book Value | $5,268 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $5,409 | OtherCostOrOtherBasisAmt |
| Depreciation | $2,554 | DepreciationAmt |
| Book Value | $2,855 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $3,851,637 | OtherCostOrOtherBasisAmt |
| Depreciation | $329,474 | DepreciationAmt |
| Book Value | $3,522,163 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $3,530,286 | TotalBookValueLandBuildingsAmt |
Financial Derivatives FinancialDerivativesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Book Value | $0 | BookValueAmt |
Closely Held Equity Interests CloselyHeldEquityInterestsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Book Value | $0 | BookValueAmt |
Other Securities OtherSecuritiesGrp (4 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| ECMC HOLDINGS CORPORATION STOCK | $1,000 | F |
| ECMC HOLDINGS CORPORATION PAID-IN CAPITAL | $41,689,660 | F |
| OAKDALE INVESTMENT MANAGEMENT CORPORATION STOCK | $1,000 | F |
| ALTERNATIVE INVESTMENTS | $297,887,312 | F |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Securities | $339,578,972 | TotalBookValueSecuritiesAmt |
Invst Program Related Org InvstProgramRelatedOrgGrp (2 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| STUDENT LOAN RECEIVABLE | $87,567,983 | F |
| MISSION-RELATED DIRECT INVESTMENTS | $16,801,062 | C |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Program Rltd | $104,369,045 | TotalBookValueProgramRltdAmt |
| Federal Income Tax Liability | $0 | FederalIncomeTaxLiabilityAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (5 entries)
| DescDesc | AmtAmt |
|---|---|
| DUE TO FEDERAL SERVICES BUREAU | $1,255 |
| DUE TO ECMC FOUNDATION | $14,664 |
| DUE TO ECMC HOLDINGS CORPORATION | $1,758,367 |
| DUE TO EDUCATIONAL CREDIT MANAGEMENT CORPORATION | $1,372,852 |
| FOUNDATION DEPOSITS IN GROUP INVESTMENT POOL | $101,751,667 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $104,898,805 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Schedule D, Part X, Line 2, FIN 48 (ASC 740) footnote | FormAndLineReferenceDesc |
| Explanation | THE FIN 48 (ASC 470) DISCLOSURE IN THE ECMC GROUP, INC. AND SUBSIDIARIES CONSOLIDATED FINANCIAL STATEMENTS READS AS FOLLOWS: "ECMC GROUP, ECMC AND FOUNDATION ARE NONPROFIT 501(C)(3) CORPORATIONS AND ARE EXEMPT FROM FEDERAL AND STATE INCOME TAXES. HOLDINGS AND ITS SUBSIDIARIES ARE TAXABLE ENTITIES AND ACCOUNT FOR DEFERRED TAX ASSETS AND LIABILITIES UNDER THE LIABILITY METHOD. DEFERRED TAX LIABILITIES ARE RECOGNIZED FOR TEMPORARY DIFFERENCES THAT WILL RESULT IN TAXABLE AMOUNTS IN FUTURE YEARS. DEFERRED TAX ASSETS ARE RECOGNIZED FOR DEDUCTIBLE TEMPORARY DIFFERENCES AND TAX OPERATING LOSS AND TAX CREDIT CARRY FORWARDS. DEFERRED TAX ASSETS ARE REDUCED BY A VALUATION ALLOWANCE WHEN, IN THE OPINION OF MANAGEMENT, IT IS MORE LIKELY THAN NOT THAT SOME PORTION OR ALL OF THE DEFERRED TAX ASSETS WILL NOT BE REALIZED. WITH FEW EXCEPTIONS, GROUP IS NO LONGER SUBJECT TO U.S. FEDERAL, STATE OR LOCAL INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR THE YEARS BEFORE 2010. 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 GROUP'S STATEMENT OF OPERATIONS." | ExplanationTxt |
Schedule F IRS990ScheduleF
Account Activities Outside US AccountActivitiesOutsideUSGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Region | CENTRAL AMERICA AND THE CARIBBEAN | RegionTxt |
| Type Of Activities Conducted | INVESTMENTS | TypeOfActivitiesConductedTxt |
| Region Total Expenditures | $94,860,000 | RegionTotalExpendituresAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Spent | $94,860,000 | TotalSpentAmt |
| Transfer To Foreign Corp | Yes (true) | TransferToForeignCorpInd |
| Interest In Foreign Trust | false | InterestInForeignTrustInd |
| Foreign Corp Ownership | false | ForeignCorpOwnershipInd |
| Passive Foreign Investmest Co | Yes (true) | PassiveForeignInvestmestCoInd |
| Foreign Partnership | Yes (true) | ForeignPartnershipInd |
| Boycott Countries | false | BoycottCountriesInd |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | SCHEDULE F, PART I, LINE 3(F), INVESTMENTS | FormAndLineReferenceDesc |
| Explanation | INVESTMENTS ARE RECORDED ON THE TRADE DATE AND 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 ARRIVE AT FAIR VALUE. INVESTMENTS HELD BY THE LIMITED PARTNERSHIPS ARE VALUED AT PRICES WHICH APPROXIMATE FAIR VALUE. THE ESTIMATED FAIR VALUE MAY DIFFER SIGNIFICANTLY FROM THE VALUES THAT WOULD HAVE BEEN USED HAD A READY MARKET EXISTED FOR THESE INVESTMENTS, AND THESE DIFFERENCES COULD BE MATERIAL. NET ASSET VALUATIONS ARE PROVIDED QUARTERLY BY THE LIMITED PARTNERSHIPS. | ExplanationTxt |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (true) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable
Recipient Business Name RecipientBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ECMC FOUNDATION | BusinessNameLine1 |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1 IMATION PLACE BLDG 2 | AddressLine1 |
| City | OAKDALE | City |
| State | MN | State |
| ZIP Code | 55128 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Recipient EIN | 411990628 | RecipientEIN |
| IRC Section | 501(C)(3) | IRCSectionDesc |
| Cash Grant | $153,837,971 | CashGrantAmt |
| Purpose Of Grant | GENERAL SUPPORT | PurposeOfGrantTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 1 | Total501c3OrgCnt |
| Total Other Org | 0 | TotalOtherOrgCnt |
Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Type | ROBERT A. STEIN SCHOLARSHIP | GrantTypeTxt |
| Recipient | 43 | RecipientCnt |
| Cash Grant | $96,500 | CashGrantAmt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Schedule I, Part I, Line 2, Procedures for monitoring use of grant funds | FormAndLineReferenceDesc |
| Explanation | ECMC GROUP, INC. IS THE SOLE MEMBER OF ECMC FOUNDATION AND CLOSELY MONITORS THE USE OF THE CASH GRANTS THROUGH REPORTS TO MANAGEMENT AND THE BOARD OF DIRECTORS ON A REGULAR BASIS. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Idemnification Gross Up Pmts | Yes (X) | IdemnificationGrossUpPmtsInd |
| Written Policy Ref T And E Expnss | Yes (true) | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | Yes (true) | SubstantiationRequiredInd |
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | Yes (true) | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | Yes (true) | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | false | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | false | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | Yes (true) | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | false | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | Yes (true) | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | false | AnyNonFixedPaymentsInd |
| Initial Contract Exception | false | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (16 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| RICHARD BOYLE | ||||||||||||||
| DIRECTOR/CEO/PRESIDENT | $475,238 | $0 | $425,000 | $0 | $8,049 | $0 | $30,600 | $0 | $24,029 | $0 | $962,916 | $0 | $0 | $0 |
| JAMES MURRAY | ||||||||||||||
| FORMER DIRECTOR | $41,266 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $41,266 | $0 | $0 | $0 |
| FRED CHAMBERS | ||||||||||||||
| FORMER VICE PRESIDENT | $63,552 | $0 | $54,600 | $0 | $31,831 | $0 | $10,911 | $0 | $11,134 | $0 | $172,028 | $0 | $0 | $0 |
| STEVEN WELLVANG | ||||||||||||||
| FORMER SEC/GENERAL COUNSEL | $0 | $484,151 | $0 | $53,544 | $0 | $9,960 | $0 | $16,320 | $0 | $2,271 | $0 | $566,246 | $0 | $9,960 |
| GREGORY VAN GUILDER | ||||||||||||||
| CHIEF FINANCIAL OFFICER | $306,483 | $0 | $350,513 | $0 | $1,777 | $0 | $53,726 | $0 | $29,573 | $0 | $742,072 | $0 | $21,387 | $0 |
| DANIEL FISHER | ||||||||||||||
| SEC/GENERAL COUNSEL | $252,393 | $0 | $214,482 | $0 | $3,109 | $0 | $43,314 | $0 | $33,536 | $0 | $546,834 | $0 | $13,038 | $0 |
| DAVID HAWN | ||||||||||||||
| CHIEF OPERATING OFFICER | $305,539 | $0 | $326,047 | $0 | $2,757 | $0 | $52,362 | $0 | $29,518 | $0 | $716,223 | $0 | $18,648 | $0 |
| HEIDI JOHNSON | ||||||||||||||
| EXEC VICE PRESIDENT | $0 | $216,798 | $0 | $200,003 | $0 | $2,263 | $0 | $40,346 | $0 | $34,873 | $0 | $494,283 | $0 | $9,590 |
| HEATHER RENNER | ||||||||||||||
| EXEC VICE PRESIDENT | $193,380 | $0 | $95,685 | $0 | $2,298 | $0 | $32,885 | $0 | $19,091 | $0 | $343,339 | $0 | $0 | $0 |
| EDWARD SPEAR | ||||||||||||||
| CIO OF ECMC | $239,237 | $0 | $187,091 | $0 | $6,089 | $0 | $40,526 | $0 | $20,196 | $0 | $493,139 | $0 | $9,849 | $0 |
| CRAIG ALLEN | ||||||||||||||
| SR VICE PRESIDENT | $46,534 | $126,307 | $0 | $71,671 | $1,027 | $3,145 | $2,908 | $24,487 | $4,801 | $13,032 | $55,270 | $238,642 | $0 | $0 |
| KATHLEEN KING | ||||||||||||||
| CONTROLLER | $182,237 | $0 | $107,379 | $0 | $4,161 | $0 | $32,708 | $0 | $18,196 | $0 | $344,681 | $0 | $2,239 | $0 |
| MATTHEW MIKULSKI | ||||||||||||||
| SR VICE PRESIDENT | $163,392 | $0 | $88,833 | $0 | $2,337 | $0 | $30,784 | $0 | $28,240 | $0 | $313,586 | $0 | $175 | $0 |
| GERALDINE GJESDAHL | ||||||||||||||
| VICE PRESIDENT | $149,406 | $0 | $61,875 | $0 | $1,294 | $0 | $25,425 | $0 | $595 | $0 | $238,595 | $0 | $0 | $0 |
| HUGH MCSHERRY | ||||||||||||||
| VICE PRESIDENT | $145,984 | $0 | $61,875 | $0 | $6,808 | $0 | $25,857 | $0 | $26,240 | $0 | $266,764 | $0 | $0 | $0 |
| JOSHUA SUSSER | ||||||||||||||
| DIRECTOR | $145,247 | $0 | $28,428 | $0 | $75,046 | $0 | $30,127 | $0 | $31,145 | $0 | $309,993 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail (5 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Schedule J, Part I, Line 1a, Tax indemnification and gross-up payments | CERTAIN TAXABLE BENEFITS ARE GROSSED UP TO MAKE THE EMPLOYEE WHOLE. THIS HAS BEEN APPROVED BY THE BOARD OF DIRECTORS. |
| Schedule J, Part I, Line 4a, Severance or change-of-control payment | THE FOLLOWING RECEIVED A SEVERANCE PAYMENT IN 2013: STEVEN WELLVANG - $355,058, PAID BY ECMC HOLDINGS, 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 2013, FOUR EMPLOYEES, DANIEL FISHER, DAVID HAWN, GREGORY VAN GUILDER, AND HEIDI JOHNSON, PARTICIPATED IN THE PLAN. NO PAYMENTS WERE MADE FROM THE PLAN. |
| Schedule J, Part I, Line 5b, Compensation contingent on revenues of a related organization | ECMC GROUP, INC.'S ANNUAL OFFICER INCENTIVE PLAN REQUIRES ACHIEVEMENT OF STATED PRIMARY FINANCIAL GOALS, WHICH INCLUDES REVENUES, BEFORE ANY PAYMENT TO ANY OFFICER IS MADE. |
| Schedule J, Part I, Line 6b, Compensation contingent on net earnings of a related organization | ECMC GROUP, INC.'S ANNUAL OFFICER INCENTIVE PLAN REQUIRES ACHIEVEMENT OF STATED KEY PERFORMANCE METRICS, WHICH INCLUDES NET EARNINGS, BEFORE ANY PAYMENT TO ANY OFFICER IS MADE. |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (13 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Form 990, Part VI, Sec A, 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. IN 2013, THERE WERE TEN MEMBERS OF THE BOARD OF DIRECTORS AND, THEREFORE, TEN 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, Sec A, 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, Sec A, Line 7b, Decisions requiring approval by members or stockholders | THE GOVERNING BODY AND THE MEMBERS ARE THE SAME INDIVIDUALS. |
| Form 990, Part VI, Sec B, 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, Sec B, 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 WHICH THEY MAY HAVE A CONFLICT OF INTEREST. |
| 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 GROUP, INC. HAS ESTABLISHED AN ANONYMOUS WHISTLEBLOWER TELEPHONE HOTLINE AND WEBSITE ADMINISTERED BY AN OUTSIDE VENDOR. |
| Form 990, Part VI, Sec B, Line 15a, Process to establish compensation of top management official | THE FOLLOWING DESCRIBES THE 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 2013, 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, Sec B, Line 15b, Process to establish compensation of other employees | THE FOLLOWING DESCRIBES THE 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 2013, 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, Sec C, Line 19, Required documents available to the public | NO DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC. |
| FORM 990, PART VII, SECTION A, CONSULTING | JAMES MURRAY, A FORMER DIRECTOR, HAD A CONSULTING AGREEMENT IN 2013. |
| FORM 990, PART XI, LINE 5, NET UNREALIZED GAINS ON INVESTMENTS | NET UNREALIZED GAINS ON INVESTMENT IN THE ECMC GROUP, INC. INVESTMENT POOL = $42,315,743. |
| FORM 990, PART XI, LINE 9, OTHER CHANGES IN NET ASSETS | NET UNREALIZED GAIN FROM SUBSIDIARY = $16,484,698. ECMC HOLDINGS MADE THE DECISION NOT TO SELL PREMIERE CREDIT OF NORTH AMERICA, LLC ("PREMIERE"). THEREFORE, PREMIERE HAS BEEN REMOVED FROM DISCONTINUED OPERATIONS AND PLACED BACK IN USE. |
| Form 990 , Part XI, Line 9, Other changes in net assets or fund balances | NET UNREALIZED GAIN FROM SUBSIDIARY - 16484698; |
Schedule R IRS990ScheduleR
Id Disregarded Entities IdDisregardedEntitiesGrp (2 entries)
| Address Line1USAddress/AddressLine1 | CityUSAddress/City | StateUSAddress/State | ZIP CodeUSAddress/ZIPCode | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Total IncomeTotalIncomeAmt | End Of Year AssetsEndOfYearAssetsAmt | Business Name Line1DirectControllingEntityName/BusinessNameLine1 |
|---|---|---|---|---|---|---|---|---|---|
| OAKDALE STUDENT LOAN FUNDING LLC | |||||||||
| 1 IMATION PLACE BLDG 2 | OAKDALE | MN | 55128 | 271914648 | HOLDING FFELP LOANS | DE | $0 | $0 | ECMC GROUP INC |
| PREMIERE CREDIT OF NORTH AMERICA LLC | |||||||||
| 2002 WELLESLEY BLVD 100 | INDIANAPOLIS | IN | 46219 | 352085743 | ACCOUNTS RECEIVABLE MANAGEMENT | IN | ECMC HOLDINGS CORP | ||
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp (2 entries)
| Address Line1USAddress/AddressLine1 | CityUSAddress/City | StateUSAddress/State | ZIP CodeUSAddress/ZIPCode | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Exempt Code SectionExemptCodeSectionTxt | Public Charity StatusPublicCharityStatusTxt | Business Name Line1DirectControllingEntityName/BusinessNameLine1 | Controlled OrganizationControlledOrganizationInd |
|---|---|---|---|---|---|---|---|---|---|---|
| EDUCATIONAL CREDIT MGMT CORP | ||||||||||
| 1 IMATION PLACE BLDG 2 | OAKDALE | MN | 55128 | 411778617 | FFELP GUARANTOR | MN | 501(C)(3) | 9 | ECMC GROUP INC | Yes (true) |
| ECMC FOUNDATION | ||||||||||
| 1 IMATION PLACE BLDG 2 | OAKDALE | MN | 55128 | 411990628 | PROMOTE EDUCATION | DE | 501(C)(3) | 11 - Type II | ECMC GROUP INC | Yes (true) |
Id Related Org Txbl Corp Tr IdRelatedOrgTxblCorpTrGrp (7 entries)
| Address Line1USAddress/AddressLine1 | CityUSAddress/City | StateUSAddress/State | ZIP CodeUSAddress/ZIPCode | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Business Name Line1DirectControllingEntityName/BusinessNameLine1 | Entity TypeEntityTypeTxt | Share Of Total IncomeShareOfTotalIncomeAmt | Share Of EOY AssetsShareOfEOYAssetsAmt | OwnershipOwnershipPct | Controlled OrganizationControlledOrganizationInd |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| OAKDALE INVESTMENT MANAGEMENT CORPORATION | ||||||||||||
| 1 IMATION PLACE BLDG 2 | OAKDALE | MN | 55128 | 461549752 | HOLDING INVESTMENTS | DE | ECMC GROUP INC | C CORPORATION | $0 | $1,000 | 1 | Yes (true) |
| ECMC HOLDINGS CORPORATION | ||||||||||||
| 1 IMATION PLACE BLDG 2 | OAKDALE | MN | 55128 | 411991992 | STRATEGIC OVERSIGHT | DE | ECMC GROUP INC | C CORPORATION | $5,522,907 | $60,276,917 | 1 | Yes (true) |
| EDUCATIONAL CREDIT SERVICES CO | ||||||||||||
| 1 IMATION PLACE BLDG 2 | OAKDALE | MN | 55128 | 411992001 | PRIVATE LOANS | DE | NA | C CORPORATION | Yes (true) | |||
| ECMC RECORDS & REC MGMT CORPORATION | ||||||||||||
| 1 IMATION PLACE BLDG 2 | OAKDALE | MN | 55128 | 411989959 | DOCUMENT MANAGEMENT | DE | NA | C CORPORATION | Yes (true) | |||
| ECMC MANAGEMENT SERVICES CORPORATION | ||||||||||||
| 1 IMATION PLACE BLDG 2 | OAKDALE | MN | 55128 | 411989960 | MANAGEMENT SERVICES | DE | NA | C CORPORATION | Yes (true) | |||
| ECMC TECHNOLOGY SERVICES CORPORATION | ||||||||||||
| 1 IMATION PLACE BLDG 2 | OAKDALE | MN | 55128 | 411989958 | TECHNOLOGY SERVICES | DE | NA | C CORPORATION | Yes (true) | |||
| ECMC SOLUTIONS CORPORATION | ||||||||||||
| 1 IMATION PLACE BLDG 2 | OAKDALE | MN | 55128 | 271854584 | DEFAULT PREVENTION | DE | NA | C CORPORATION | Yes (true) | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | false | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | Yes (true) | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | Yes (true) | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | false | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | false | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | false | DivRelatedOrganizationInd |
| Asset Sale To Other Org | false | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | false | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | false | AssetExchangeInd |
| Rental Of Facilities To Oth Org | false | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | false | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | false | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | false | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | Yes (true) | SharingOfFacilitiesInd |
| Paid Employees Sharing | Yes (true) | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | Yes (true) | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | Yes (true) | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | false | TransferToOtherOrgInd |
| Transfer From Other Org | false | TransferFromOtherOrgInd |
Transactions Related Org TransactionsRelatedOrgGrp (15 entries)
| Transaction TypeTransactionTypeTxt | InvolvedInvolvedAmt | Method Of Amount DeterminationMethodOfAmountDeterminationTxt |
|---|---|---|
| ECMC FOUNDATION | ||
| B | $153,837,971 | ALLOCATION |
| ECMC FOUNDATION | ||
| N | $672,137 | ALLOCATION |
| ECMC FOUNDATION | ||
| O | $273,708 | ALLOCATION |
| ECMC FOUNDATION | ||
| P | $214,508 | ALLOCATION |
| ECMC FOUNDATION | ||
| Q | $217,150 | ALLOCATION |
| EDUCATIONAL CREDIT MANAGEMENT CORPORATION | ||
| C | $360,978,478 | ALLOCATION |
| EDUCATIONAL CREDIT MANAGEMENT CORPORATION | ||
| N | $28,479,801 | ALLOCATION |
| EDUCATIONAL CREDIT MANAGEMENT CORPORATION | ||
| O | $23,868,588 | ALLOCATION |
| EDUCATIONAL CREDIT MANAGEMENT CORPORATION | ||
| Q | $6,967,282 | ALLOCATION |
| ECMC HOLDINGS CORPORATION | ||
| N | $1,096,830 | ALLOCATION |
| ECMC HOLDINGS CORPORATION | ||
| Q | $1,475,557 | ALLOCATION |
| ECMC RECORDS & REC MGMT CORPORATION | ||
| N | $60,829 | ALLOCATION |
| ECMC SOLUTIONS CORPORATION | ||
| N | $438,357 | ALLOCATION |
| ECMC SOLUTIONS CORPORATION | ||
| O | $193,200 | ALLOCATION |
| ECMC SOLUTIONS CORPORATION | ||
| Q | $84,017 | ALLOCATION |