ECMC GROUP INC: Form 990, tax year 2011
View the entire original 990 at ProPublica ↗
- Organization
- ECMC GROUP INC (EIN 41-1991995)
- Tax period
- 2011-01-01 to 2011-12-31
- Filed
- 2012-11-12
- IRS object ID
- 201223179349301807
- Schema version
- 2011v1.2
- 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) |
|---|---|---|
| Timestamp | 2012-11-12T10:48:34-08:00 | Timestamp |
| Tax Period End Date | 2011-12-31 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | BAKER TILLY VIRCHOW KRAUSE LLP | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 225 S 6TH ST STE 2300 | AddressLine1 |
| City | MINNEAPOLIS | City |
| State | MN | State |
| ZIP Code | 55402 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2011-01-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 411991995 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ECMC GROUP INC | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | ECMC | NameControl |
| Phone | 6512210566 | Phone |
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 |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | GREGORY VAN GUILDER | Name |
| Title | CFO | Title |
| Phone | 6512210566 | Phone |
| Date Signed | 2012-11-08 | DateSigned |
| Authorize Third Party | true | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | LAWRENCE H MOHR CPA | Name |
| Phone | 6128764500 | Phone |
| Date Prepared | 2012-11-07 | DatePrepared |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2011 | TaxYear |
| Build TS | 2016-02-24 21:20:13Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Principal Officer Person | GREGORY VAN GUILDER | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1 IMATION PLACE BUILDING 2 | AddressLine1 |
| City | OAKDALE | City |
| State | MN | State |
| ZIP Code | 551283422 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 138763650 | GrossReceipts |
| Group Return For Affiliates | false | GroupReturnForAffiliates |
| Organization501c3 | X | Organization501c3 |
| Web Site | N/A | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 2000 | YearFormation |
| State Legal Domicile | DE | StateLegalDomicile |
| Activity Or Mission Description | ECMC Group supports the furtherance of the exempt purpose of Educational Credit Management Corporation by providing management/planning services that are in support of higher education finance and college access, retention and success. ECMC Group also funds the programs and initiatives of ECMC Foundation. | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 10 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 9 | NbrIndependentVotingMembers |
| Total Nbr Employees | 18 | TotalNbrEmployees |
| Total Nbr Volunteers | 0 | TotalNbrVolunteers |
| Total Gross UBI | 0 | TotalGrossUBI |
| Contributions Grants Prior Year | 12690208 | ContributionsGrantsPriorYear |
| Contributions Grants Current Year | 119053498 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 14710913 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 19680939 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 51212 | InvestmentIncomePriorYear |
| Investment Income Current Year | 29213 | InvestmentIncomeCurrentYear |
| Other Revenue Current Year | 0 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 27452333 | TotalRevenuePriorYear |
| Total Revenue Current Year | 138763650 | TotalRevenueCurrentYear |
| Grants And Similar Amnts Prior Year | 2690208 | GrantsAndSimilarAmntsPriorYear |
| Grants And Similar Amnts CY | 65058498 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members CY | 0 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 3281586 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 5299204 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp CY | 0 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 0 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 18760773 | OtherExpensePriorYear |
| Other Expenses Current Year | 6482831 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 24732567 | TotalExpensesPriorYear |
| Total Expenses Current Year | 76840533 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | 2719766 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | 61923117 | RevenuesLessExpensesCY |
| Total Assets BOY | 106860280 | TotalAssetsBOY |
| Total Assets EOY | 179596471 | TotalAssetsEOY |
| Total Liabilities BOY | 44503431 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 55316505 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 62356849 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 124279966 | NetAssetsOrFundBalancesEOY |
| Info In Schedule O Part III | X | InfoInScheduleOPartIII |
| Mission Description | ECMC Group supports the exempt purpose of ECMC by providing management services | MissionDescription |
| Significant New Program Services | false | SignificantNewProgramServices |
| Significant Change | false | SignificantChange |
| Expense | 65053498 | Expense |
| Grants | 65053498 | Grants |
| Description | 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. --- THE ECMC GROUP BOARD OF DIRECTORS APPROVED A CONTRIBUTION TO THE ECMC FOUNDATION IN EXCESS OF $62 MILLION FOR THE 2011-12 CAL GRANT PROGRAM. AS THE LARGEST SOURCE OF CALIFORNIA STATE AID, CAL GRANTS HELP STUDENTS IN NEED GAIN ACCESS TO HIGHER EDUCATION. OVER THE PAST TWO YEARS, ECMC GROUP AND AFFILIATES HAVE CONTRIBUTED $246.7 MILLION TO THE CAL GRANT PROGRAM. THESE CONTRIBUTIONS TRANSLATE INTO OVER 42,000 CALIFORNIA STUDENTS HAVING THE FINANCIAL RESOURCES NECESSARY TO PURSUE THEIR DREAM OF A HIGHER EDUCATION. | Description |
Activity2 Activity2
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | 3866905 | Expense |
| Revenue | 8950173 | Revenue |
| Description | 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 REHABILITATED LOANS FROM EDUCATIONAL CREDIT MANAGEMENT CORPORATION, A RELATED ENTITY. | Description |
Activity3 Activity3
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | 772954 | Expense |
| Grants | 5000 | Grants |
| Description | GOVERNMENT RELATIONS FUNCTIONS AS A CENTRAL REPOSITORY TO ENABLE SHARING OF INFORMATION AMONG THE ECMC GROUP RELATED ORGANIZATIONS, LEGISLATIVE BODIES AND GOVERNMENT AGENCIES WHOSE LAWS AND REGULATIONS IMPACT THE OPERATIONS OF ECMC GROUP COMPANIES. THE PROGRAM ENABLES THE ORGANIZATION TO REVIEW CURRENT INITIATIVES OF THESE LEGISLATIVE BODIES AND AGENCIES AND PROVIDE CONSTRUCTIVE INPUT ON SAID INITIATIVES. | Description |
Activity Other ActivityOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Revenue | 4852837 | Revenue |
| Description | Continued on Schedule O. | Description |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Other Program Service Rev | 4852837 | TotalOfOtherProgramServiceRev |
| Total Program Service Expense | 69693357 | TotalProgramServiceExpense |
| Described In501 C3 | true | DescribedIn501C3 |
| Schedule B Required | true | ScheduleBRequired |
| Political Activities | false | PoliticalActivities |
| Lobbying Activities | false | LobbyingActivities |
| Subject To Proxy Tax | false | SubjectToProxyTax |
| Donor Advised Funds | false | DonorAdvisedFunds |
| Conservation Easements | false | ConservationEasements |
| Collections Of Art | false | CollectionsOfArt |
| Credit Counseling | false | CreditCounseling |
| Term Or Permanent Endowments | false | TermOrPermanentEndowments |
| Report Land Bldg Equip | true | ReportLandBldgEquip |
| Report Invest Oth Securities | true | ReportInvestOthSecurities |
| Report Prog Rel Invest | true | ReportProgRelInvest |
| Report Other Assets | true | ReportOtherAssets |
| Report Other Liabilities | true | ReportOtherLiabilities |
| Report Fin48 Footnote | true | ReportFin48Footnote |
| Independent Audit Financial Stmt | false | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | true | ConsolidatedAuditFinancialStmt |
| School | false | School |
| Foreign Office | false | ForeignOffice |
| Foreign Activities | false | ForeignActivities |
| More Than5000 K To Organizations | false | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | false | MoreThan5000KToIndividuals |
| Professional Fundraising | false | ProfessionalFundraising |
| Fundraising Activities | false | FundraisingActivities |
| Gaming | false | Gaming |
| Hospital | false | Hospital |
| Grants To Organizations | true | GrantsToOrganizations |
| Grants To Individuals | false | GrantsToIndividuals |
| Schedule J Required | true | ScheduleJRequired |
| Tax Exempt Bonds | false | TaxExemptBonds |
| Excess Benefit Transaction | false | ExcessBenefitTransaction |
| Prior Excess Benefit Transaction | false | PriorExcessBenefitTransaction |
| Loan To Officer Or DQP | false | LoanToOfficerOrDQP |
| Grant To Related Person | false | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | false | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | false | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | false | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | false | DeductibleNonCashContributions |
| Deductible Contributions Of Art | false | DeductibleContributionsOfArt |
| Terminated | false | Terminated |
| Partial Liquidation | false | PartialLiquidation |
| Disregarded Entity | true | DisregardedEntity |
| Related Entity | true | RelatedEntity |
| Related Org Controlled Entity | true | RelatedOrgControlledEntity |
| Transaction Related Entity | true | TransactionRelatedEntity |
| Activities Conducted Partnership | false | ActivitiesConductedPartnership |
| Schedule O Required | true | ScheduleORequired |
| Number Forms Transmitted With1096 | 47 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Compliance With Backup Witholding | true | ComplianceWithBackupWitholding |
| Number Of Employees | 18 | NumberOfEmployees |
| Employment Tax Returns Filed | true | EmploymentTaxReturnsFiled |
| Unrelated Business Income | false | UnrelatedBusinessIncome |
| Foreign Financial Account | false | ForeignFinancialAccount |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTrans |
| Taxable Party Notification | false | TaxablePartyNotification |
| Non Deductible Contributions | false | NonDeductibleContributions |
| Quid Pro Quo Contributions | false | QuidProQuoContributions |
| Form8282 Property Disposed Of | false | Form8282PropertyDisposedOf |
| Funds To Pay Premiums | false | FundsToPayPremiums |
| Premiums Paid | false | PremiumsPaid |
| Indoor Tanning Services | false | IndoorTanningServices |
| Info In Schedule O Part VI | X | InfoInScheduleOPartVI |
| Nbr Voting Governing Body Members | 10 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 9 | NumberIndependentVotingMembers |
| Family Or Business Relationship | false | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | false | DelegationOfManagementDuties |
| Changes To Organizing Docs | true | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | false | MaterialDiversionOrMisuse |
| Members Or Stockholders | true | MembersOrStockholders |
| Election Of Board Members | true | ElectionOfBoardMembers |
| Decisions Subject To Approval | true | DecisionsSubjectToApproval |
| Minutes Of Governing Body | true | MinutesOfGoverningBody |
| Minutes Of Committees | true | MinutesOfCommittees |
| Officer Mailing Address | false | OfficerMailingAddress |
| Local Chapters | false | LocalChapters |
| Form990 Provided To Governing Body | true | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | true | ConflictOfInterestPolicy |
| Annual Disclosure Covered Persons | true | AnnualDisclosureCoveredPersons |
| Regular Monitoring Enforcement | true | RegularMonitoringEnforcement |
| Whistleblower Policy | true | WhistleblowerPolicy |
| Document Retention Policy | true | DocumentRetentionPolicy |
| Compensation Process CEO | true | CompensationProcessCEO |
| Compensation Process Other | true | CompensationProcessOther |
| Investment In Joint Venture | false | InvestmentInJointVenture |
| States Where Copy Of Return Is Filed | NM | StatesWhereCopyOfReturnIsFiled |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Person | GREGORY VAN GUILDER | NamePerson |
| Telephone Number | 6512210566 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1 IMATION PLACE BLDG 2 | AddressLine1 |
| City | OAKDALE | City |
| State | MN | State |
| ZIP Code | 551283422 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part VII | X | InfoInScheduleOPartVII |
Form990 Part VII Section A Form990PartVIISectionA (23 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Individual Trustee Or DirectorIndividualTrusteeOrDirector | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation | OfficerOfficer | Highest Compensated EmployeeHighestCompensatedEmployee | FormerFormer |
|---|---|---|---|---|---|---|---|---|
| ROBERT STEIN | ||||||||
| Board Chair | 7.00 | X | 84155 | 21000 | 0 | |||
| GARY COOK | ||||||||
| Director | 5.00 | X | 63654 | 18500 | 0 | |||
| ROBERTA COOPER RAMO | ||||||||
| Director | 4.00 | X | 73055 | 22000 | 0 | |||
| JOHN DEPODESTA | ||||||||
| Director | 6.00 | X | 79654 | 25500 | 0 | |||
| EDWARD JENNINGS | ||||||||
| Director | 4.00 | X | 62655 | 11500 | 0 | |||
| I KING JORDAN | ||||||||
| Director | 5.00 | X | 71655 | 10500 | 0 | |||
| JAMES MCKEON | ||||||||
| Director | 4.00 | X | 62655 | 18500 | 0 | |||
| JACK O'CONNELL | ||||||||
| Director | 4.00 | X | 36270 | 8500 | 0 | |||
| MAURICE SALTER | ||||||||
| Director | 4.00 | X | 36270 | 8500 | 0 | |||
| RICHARD BOYLE | ||||||||
| CEO/Pres/Director | 75.00 | X | 895486 | 0 | 47410 | X | ||
| GREGORY VAN GUILDER | ||||||||
| Chief Financial Officer | 51.00 | 473578 | 0 | 52753 | X | |||
| DANIEL FISHER | ||||||||
| Sec/Gen Counsel | 25.00 | 380088 | 0 | 56000 | X | |||
| HEATHER RENNER | ||||||||
| Vice President | 41.00 | 191814 | 0 | 35721 | X | |||
| DAVID HAWN | ||||||||
| Chief Operating Officer | 11.00 | 117214 | 339123 | 57000 | X | |||
| EDWARD SPEAR | ||||||||
| Vice President | 0 | 356800 | 45410 | X | ||||
| HEIDI JOHNSON | ||||||||
| Vice President | 4 | 303537 | 55801 | X | ||||
| ROBERTA SWEENEY | ||||||||
| CBO of ECMC | 40 | 156310 | 18731 | X | ||||
| FRED CHAMBERS | ||||||||
| Vice President of ECMC | 3 | 47767 | 144280 | 42666 | X | |||
| AMEDEO MINUTOLO | ||||||||
| Director-IT | 12 | 42810 | 92383 | 34737 | X | |||
| BRADLEY TOTMAN | ||||||||
| Enterprise IA | 13 | 34080 | 85762 | 21745 | X | |||
| PAUL VALENTINO | ||||||||
| Enterprise IA | 10 | 31058 | 84961 | 28787 | X | |||
| JAMES MURRAY | ||||||||
| Former Director | 0 | 42710 | X | |||||
| STEVEN WELLVANG | ||||||||
| Former Sec/Gen Counsel | 6 | 501031 | 52600 | X | ||||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 3339738 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 1695577 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 549361 | TotalOtherCompensation |
| Number Individuals GT100 K | 11 | NumberIndividualsGT100K |
| Formers Listed | true | FormersListed |
| Total Comp GT150 K | true | TotalCompGT150K |
| Compensation From Other Sources | false | CompensationFromOtherSources |
Contractor Compensation ContractorCompensation (5 entries)
| Address Line1AddressOfContractor/AddressUS/AddressLine1 | CityAddressOfContractor/AddressUS/City | StateAddressOfContractor/AddressUS/State | ZIP CodeAddressOfContractor/AddressUS/ZIPCode | Description Of ServicesDescriptionOfServices | CompensationCompensation |
|---|---|---|---|---|---|
| BAKER TILLY VIRCHOW KRAUSE LLP | |||||
| 225 S SIXTH ST STE 2300 | MINNEAPOLIS | MN | 55402 | Accounting | 536310 |
| LARSON SOFTWARE DEVELOPMENT INC | |||||
| PO BOX 184 | HUDSON | WI | 54016 | IT Consulting Agency | 278630 |
| DAHL CONSULTING INC | |||||
| 418 COUNTY RD D EAST | ST PAUL | MN | 551171218 | IT Consulting Agency | 277514 |
| OPPENHEIMER WOLFF & DONNELLY LLP | |||||
| PLAZA VII STE 3300 45 S SEVENTH ST | MINNEAPOLIS | MN | 55402 | Legal | 265243 |
| SGF SOFTWARE COMPANY | |||||
| 2751 HENNEPIN AVE STE 115 | MINNEAPOLIS | MN | 55408 | IT Consulting Agency | 224470 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of Contractors GT100 K | 11 | NumberOfContractorsGT100K |
| Related Organizations | 119053498 | RelatedOrganizations |
| Total Contributions | 119053498 | TotalContributions |
Program Service Revenue ProgramServiceRevenue (2 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | ExclusionExclusionAmount |
|---|---|---|---|
| Management Services | 900003 | 10730766 | $5,877,929 |
| Student Loan Portfolio | 900099 | 8950173 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 19680939 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 29213 | TotalRevenueColumn |
| Exclusion | $29,213 | ExclusionAmount |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 138763650 | TotalRevenueColumn |
| Related Or Exempt Function Income | 13803010 | RelatedOrExemptFunctionIncome |
| Exclusion | $5,907,142 | ExclusionAmount |
Grants To Domestic Orgs GrantsToDomesticOrgs
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 65058498 | Total |
| Program Services | 65058498 | ProgramServices |
Comp Current Officers Directors CompCurrentOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2297680 | Total |
| Program Services | 252986 | ProgramServices |
| Management And General | 2044694 | ManagementAndGeneral |
| Fundraising | 0 | Fundraising |
Other Salaries And Wages OtherSalariesAndWages
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2255737 | Total |
| Program Services | 73204 | ProgramServices |
| Management And General | 2182533 | ManagementAndGeneral |
| Fundraising | 0 | Fundraising |
Pension Plan Contributions PensionPlanContributions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 161137 | Total |
| Program Services | 5229 | ProgramServices |
| Management And General | 155908 | ManagementAndGeneral |
| Fundraising | 0 | Fundraising |
Other Employee Benefits OtherEmployeeBenefits
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 407713 | Total |
| Program Services | 6070 | ProgramServices |
| Management And General | 401643 | ManagementAndGeneral |
| Fundraising | 0 | Fundraising |
Payroll Taxes PayrollTaxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 176937 | Total |
| Program Services | 5742 | ProgramServices |
| Management And General | 171195 | ManagementAndGeneral |
| Fundraising | 0 | Fundraising |
Fees For Services Legal FeesForServicesLegal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 169272 | Total |
| Program Services | 161714 | ProgramServices |
| Management And General | 7558 | ManagementAndGeneral |
| Fundraising | 0 | Fundraising |
Fees For Services Accounting FeesForServicesAccounting
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 192553 | Total |
| Program Services | 33963 | ProgramServices |
| Management And General | 158590 | ManagementAndGeneral |
| Fundraising | 0 | Fundraising |
Fees For Services Other FeesForServicesOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2184712 | Total |
| Program Services | 1711394 | ProgramServices |
| Management And General | 473318 | ManagementAndGeneral |
| Fundraising | 0 | Fundraising |
Advertising Advertising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 38 | Total |
| Program Services | 2 | ProgramServices |
| Management And General | 36 | ManagementAndGeneral |
| Fundraising | 0 | Fundraising |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 363173 | Total |
| Program Services | 63792 | ProgramServices |
| Management And General | 299381 | ManagementAndGeneral |
| Fundraising | 0 | Fundraising |
Information Technology InformationTechnology
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 39467 | Total |
| Program Services | 2254 | ProgramServices |
| Management And General | 37213 | ManagementAndGeneral |
| Fundraising | 0 | Fundraising |
Occupancy Occupancy
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 721505 | Total |
| Program Services | 12188 | ProgramServices |
| Management And General | 709317 | ManagementAndGeneral |
| Fundraising | 0 | Fundraising |
Travel Travel
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 265734 | Total |
| Program Services | 37882 | ProgramServices |
| Management And General | 227852 | ManagementAndGeneral |
| Fundraising | 0 | Fundraising |
Conferences Meetings ConferencesMeetings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 20381 | Total |
| Program Services | 1335 | ProgramServices |
| Management And General | 19046 | ManagementAndGeneral |
| Fundraising | 0 | Fundraising |
Interest Interest
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 733159 | Total |
| Program Services | 733159 | ProgramServices |
| Management And General | 0 | ManagementAndGeneral |
| Fundraising | 0 | Fundraising |
Payments To Affiliates PaymentsToAffiliates
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
| Program Services | 0 | ProgramServices |
| Management And General | 0 | ManagementAndGeneral |
| Fundraising | 0 | Fundraising |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1212051 | Total |
| Program Services | 1208333 | ProgramServices |
| Management And General | 3718 | ManagementAndGeneral |
| Fundraising | 0 | Fundraising |
Insurance Insurance
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 54002 | Total |
| Program Services | 2031 | ProgramServices |
| Management And General | 51971 | ManagementAndGeneral |
| Fundraising | 0 | Fundraising |
Other Expenses OtherExpenses (2 entries)
| DescriptionDescription | TotalTotal | Program ServicesProgramServices | Management And GeneralManagementAndGeneral | FundraisingFundraising |
|---|---|---|---|---|
| Loss on student loans held | 309120 | 309120 | 0 | 0 |
| Usage on shared assets | 212393 | 14461 | 197932 | 0 |
All Other Expenses AllOtherExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 5271 | Total |
| Program Services | 0 | ProgramServices |
| Management And General | 5271 | ManagementAndGeneral |
| Fundraising | 0 | Fundraising |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 76840533 | Total |
| Program Services | 69693357 | ProgramServices |
| Management And General | 7147176 | ManagementAndGeneral |
| Fundraising | 0 | Fundraising |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 8688331 | BOY |
| EOY | 17082947 | EOY |
Savings And Temp Cash Investments SavingsAndTempCashInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 2501264 | BOY |
| EOY | 2501948 | EOY |
Accounts Receivable AccountsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 14607 | BOY |
| EOY | 28457 | EOY |
Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 664475 | BOY |
| EOY | 942926 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Buildings Equipment Basis | 18592 | LandBuildingsEquipmentBasis |
| Land Bldg Equipment Accum Deprec | 5887 | LandBldgEquipmentAccumDeprec |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 16423 | BOY |
| EOY | 12705 | EOY |
Investments Other Securities InvestmentsOtherSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 13747390 | BOY |
| EOY | 19164031 | EOY |
Investments Program Related InvestmentsProgramRelated
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 65671075 | BOY |
| EOY | 112564790 | EOY |
Intangible Assets IntangibleAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 375000 | BOY |
| EOY | 166667 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 15181715 | BOY |
| EOY | 27132000 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 106860280 | BOY |
| EOY | 179596471 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 2254524 | BOY |
| EOY | 3726779 | EOY |
Mort Notes Pybl Secured Invest Prop MortNotesPyblSecuredInvestProp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 41000000 | BOY |
| EOY | 28450000 | EOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1248907 | BOY |
| EOY | 23139726 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 44503431 | BOY |
| EOY | 55316505 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Follow SFAS117 | X | FollowSFAS117 |
Unrestricted Net Assets UnrestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 62356849 | BOY |
| EOY | 124279966 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 62356849 | BOY |
| EOY | 124279966 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 106860280 | BOY |
| EOY | 179596471 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expenses | 61923117 | ReconcilationRevenueExpenses |
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | false | AccountantCompileOrReview |
| FS Audited | true | FSAudited |
| Audit Committee | true | AuditCommittee |
| Financial Statement Consolidated | X | FinancialStatementConsolidated |
| Federal Grant Audit Required | false | FederalGrantAuditRequired |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Supporting Organization509a3 | X | SupportingOrganization509a3 |
| Supporting Org509a3 Type1 | X | SupportingOrg509a3Type1 |
| Certification Checkbox | X | CertificationCheckbox |
| Contrib By Controlling Individual | false | ContribByControllingIndividual |
| Contribution By Related Party | false | ContributionByRelatedParty |
| Contrib By35 Controlled Entity | false | ContribBy35ControlledEntity |
Supported Org Information SupportedOrgInformation
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | EDUCATIONAL CREDIT MGMT CORP | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 411778617 | EIN |
| Type Of Organization | 9 | TypeOfOrganization |
| Listed In Governing Doc | true | ListedInGoverningDoc |
| Supported Organization Notified | true | SupportedOrganizationNotified |
| Organized In US | true | OrganizedInUS |
| Amount | $772,954 | Amount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Number Of Supported Orgs | 1 | TotalNumberOfSupportedOrgs |
| Sum Of Amounts | 772954 | SumOfAmounts |
| Public Support Total170 | 0 | PublicSupportTotal170 |
Gross Investment Income170 GrossInvestmentIncome170
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Support Pertcentage170 | 0 | PublicSupportPertcentage170 |
| Public Support Total509 | 0 | PublicSupportTotal509 |
| Public Support Percentage509 | 0 | PublicSupportPercentage509 |
| Investment Income Percentage | 0 | InvestmentIncomePercentage |
Schedule B IRS990ScheduleB
Contributor Info ContributorInfo
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor Number | RESTRICTED | ContributorNumber |
Contributor Name Business ContributorNameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor Address US ContributorAddressUS
| 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) |
|---|---|---|
| Aggregate Contributions | RESTRICTED | AggregateContributions |
Schedule D IRS990ScheduleD
Leasehold Improvements LeaseholdImprovements
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 18592 | OtherCostOrOtherBasis |
| Depreciation | 5887 | Depreciation |
| Book Value | 12705 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 12705 | TotalOfBookValueLandBuildings |
Other Securities OtherSecurities (2 entries)
| DescriptionDescription | Book ValueBookValue | Method Of ValuationMethodOfValuation |
|---|---|---|
| ECMC Holdings Corporation stock | 1000 | C |
| ECMC Holdings Corp paid-in capital | 19163031 | C |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Securities | 19164031 | TotalOfBookValueSecurities |
Investments Program Related InvestmentsProgramRelated
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | Student loan receivable | Description |
| Book Value | 112564790 | BookValue |
| Method Of Valuation | F | MethodOfValuation |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Program Related | 112564790 | TotalOfBookValueProgramRelated |
Other Assets OtherAssets (8 entries)
| DescriptionDescription | Book ValueBookValue |
|---|---|
| Due from Educational Credit Management Corporation | 26453208 |
| Due from ECMC Holdings Corporation | 463612 |
| Due from ECMC Solutions Corporation | 175445 |
| Due from ECMC Foundation | 27054 |
| Due from Records and Receivable Management Corporation | 4667 |
| Due from Educational Credit Services Company | 214 |
| Due from Federal Services Bureau | 6000 |
| Security Deposits | 1800 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Other Assets | 27132000 | TotalBookValueOtherAssets |
Other Liabilities OtherLiabilities (4 entries)
| DescriptionDescription | AmountAmount |
|---|---|
| Due to ECMC Foundation | $20,619,051 |
| Due to ECMC Holdings Corporation | $1,311,082 |
| Due to Educational Credit Management Corporation | $1,197,563 |
| Due to Federal Services Bureau | $12,030 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Amounts | 23139726 | TotalOfAmounts |
Form990 Schedule D Part XIV Form990ScheduleDPartXIV (3 entries)
| IdentifierIdentifier | ExplanationExplanation |
|---|---|
| Pt X | The FIN 48 (ASC 470) disclosure in the ECMC Group, Inc. and |
| SUBSIDIARIES CONSOLIDATED FINANCIAL STATEMENTS READS AS FOLLOWS: "ECMC GROUP, ECMC AND THE 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 CARRYFORWARDS. 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. --- GROUP ACCOUNTS FOR THE UNCERTAINTY IN INCOME TAXES RELATED TO THE RECOGNITION AND MEASUREMENT OF A TAX POSITION |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Records Maintained | true | RecordsMaintained |
Recipient Table RecipientTable
Recipient Name Business RecipientNameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ECMC FOUNDATION | BusinessNameLine1 |
Address US AddressUS
| 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) |
|---|---|---|
| EIN Of Recipient | 411990628 | EINOfRecipient |
| IRC Section | 501(c)(3) | IRCSection |
| Amount Of Cash Grant | 65053498 | AmountOfCashGrant |
| Purpose Of Grant | Gen Support | PurposeOfGrant |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Nbr Of501 C3 And Govt Grants | 1 | TotalNbrOf501C3AndGovtGrants |
| Total Nbr Of Other Organizations | 0 | TotalNbrOfOtherOrganizations |
Form990 Schedule I Part IV Form990ScheduleIPartIV (3 entries)
| IdentifierIdentifier | ExplanationExplanation |
|---|---|
| Pt I Line 2 | 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. |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Idemnification Gross Up Payments | X | IdemnificationGrossUpPayments |
| Written Policy Re T And E Expenses | true | WrittenPolicyReTAndEExpenses |
| Substantiation Required | true | SubstantiationRequired |
| Compensation Committee | X | CompensationCommittee |
| Independent Consultant | X | IndependentConsultant |
| Compensation Survey | X | CompensationSurvey |
| Board Or Committee Approval | X | BoardOrCommitteeApproval |
| Severance Payment | false | SeverancePayment |
| Supplemental Nonqual Retire Plan | false | SupplementalNonqualRetirePlan |
| Equity Based Comp Arrangement | false | EquityBasedCompArrangement |
| Comp Based On Revenue Of Filing Org | false | CompBasedOnRevenueOfFilingOrg |
| Comp Based On Revenue Related Orgs | true | CompBasedOnRevenueRelatedOrgs |
| Comp Based Net Earnings Filing Org | false | CompBasedNetEarningsFilingOrg |
| Comp Based Net Earnings Relate Orgs | true | CompBasedNetEarningsRelateOrgs |
| Any Non Fixed Payments | false | AnyNonFixedPayments |
| Initial Contract Exception | false | InitialContractException |
Form990 Schedule J Part II Form990ScheduleJPartII (12 entries)
| Base Compensation Filing OrgBaseCompensationFilingOrg | Bonus Filing OrgBonusFilingOrg | Other Compensation Filing OrgOtherCompensationFilingOrg | Deferred Comp Filing OrgDeferredCompFilingOrg | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrg | Total Compensation Filing OrgTotalCompensationFilingOrg | Comp Based On Related OrgsCompBasedOnRelatedOrgs | Bonus Related OrgsBonusRelatedOrgs | Other Compensation Related OrgsOtherCompensationRelatedOrgs | Deferred Comp Related OrgsDeferredCompRelatedOrgs | Nontaxable Benefits Related OrgsNontaxableBenefitsRelatedOrgs | Total Compensation Related OrgsTotalCompensationRelatedOrgs |
|---|---|---|---|---|---|---|---|---|---|---|---|
| RICHARD BOYLE | |||||||||||
| 474998 | 347000 | 73488 | 29400 | 18010 | 942896 | ||||||
| GREGORY VAN GUILDER | |||||||||||
| 305414 | 166388 | 1776 | 31553 | 21200 | 526331 | ||||||
| DANIEL FISHER | |||||||||||
| 242514 | 134690 | 2884 | 29400 | 26600 | 436088 | ||||||
| HEATHER RENNER | |||||||||||
| 138251 | 51995 | 1568 | 23132 | 12589 | 227535 | ||||||
| DAVID HAWN | |||||||||||
| 117600 | -386 | 6400 | 8154 | 131768 | 160891 | 176173 | 2059 | 29400 | 13046 | 381569 | |
| EDWARD SPEAR | |||||||||||
| 221998 | 131306 | 3496 | 29400 | 16010 | 402210 | ||||||
| HEIDI JOHNSON | |||||||||||
| 199444 | 102051 | 2042 | 29400 | 26401 | 359338 | ||||||
| ROBERTA SWEENEY | |||||||||||
| 143967 | 2309 | 10034 | 13607 | 5124 | 175041 | ||||||
| FRED CHAMBERS | |||||||||||
| 46994 | 773 | 2866 | 8383 | 59016 | 81774 | 58938 | 3568 | 17427 | 13990 | 175697 | |
| AMEDEO MINUTOLO | |||||||||||
| 36594 | 7500 | -1284 | 5485 | 15456 | 63751 | 74449 | 14849 | 3085 | 11242 | 2554 | 106179 |
| JAMES MURRAY | |||||||||||
| 42710 | 42710 | ||||||||||
| STEVEN WELLVANG | |||||||||||
| 309760 | 182271 | 9000 | 29400 | 23200 | 553631 | ||||||
Form990 Schedule J Part III Form990ScheduleJPartIII (3 entries)
| IdentifierIdentifier | ExplanationExplanation |
|---|---|
| Pt I Line 1a | Certain taxable benefits are grossed up to make the employee whole. This has been approved by the board of directors. --- |
| Pt I Line 5b | ECMC Group's annual officer incentive plan requires achievement of stated primary financial goals, which includes revenues, before any payment to any officer is made. --- |
| Pt I Line 6b | ECMC Group'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
General Explanation GeneralExplanation (120 entries)
| IdentifierIdentifier | ExplanationExplanation |
|---|---|
| Pt I, Line 1 | ECMC Group is a nonprofit corporation that provides services |
| in support of higher education finance. Our 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 financial literacy and college | |
| access, retention and success. ECMC Group 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. | |
| --- | |
| Pt III, Line 4d | Continued from Part III, Line 4d. |
| Support and services supplied to ECMC Group, Inc. related | |
| organizations to further tax exempt purposes. | |
| Expenses $0 including grants of $0. Revenue $4,852,837. | |
| --- | |
| Pt VI, Line 4 | The Bylaws of ECMC Group, Inc. were amended to allow |
| for up to 11 Directors. The previous Bylaws allowed for | |
| up to 9 Directors. | |
| --- | |
| Pt VI, Line 6 | Each Director of the ECMC Group, Inc.'s Board of Directors is |
| a member of ECMC Group, Inc. In 2011, 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 III, Line 4d | CONTINUED ON SCHEDULE O. 0. 0. 4852837. |
| Pt VI, Line 7a | 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. | |
| --- | |
| Pt VI, Line 7b | The governing body and the member are the same individuals. |
| --- | |
| Pt VI, Line 11a | 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. | |
| --- | |
| Pt VI, Line 12c | 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. | |
| --- | |
| Pt 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. | |
| --- | |
| Pt VI, Line 15 | The following describes the ECMC and ECMC Group executive |
| compensation methodology. | |
| --- | |
| The Governance & Compensation Committee of the ECMC Group Board | |
| of Directors is wholly comprised of independent, outside directors. | |
| In 2011, 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. | |
| --- | |
| Pt VI, Line 17 | States to file Form 990: New Mexico. |
| --- | |
| Pt VI, Line 19 | No documents are made available to the public. |
| --- | |
| Pt VII-A | Per the Form 990 Instructions, ECMC Group is required to provide |
| the hours worked by ECMC Group Directors for ECMC Group and its | |
| related organizations. See detail below: | |
| Robert Stein-related orgs=5 hrs/wk, ECMC Group, Inc.=7 hrs/wk, total=12 hrs/wk | |
| Gary Cook-related orgs=4 hrs/wk, ECMC Group, Inc.=5 hrs/wk, total=9 hrs/wk | |
| Roberta Cooper Ramo-related orgs=6 hrs/wk, ECMC Group, Inc.=4 hrs/wk, total=10 hrs/wk | |
| John DePodesta-related orgs=6 hrs/wk, ECMC Group, Inc.=6 hrs/wk, total=12 hrs/wk | |
| Edward Jennings-related orgs=4 hrs/wk, ECMC Group, Inc.=4 hrs/wk, total=8 hrs/wk | |
| I. King Jordan-related orgs=4 hrs/wk, ECMC Group, Inc.=5 hrs/wk, total=9 hrs/wk | |
| James McKeon-related orgs=5 hrs/wk, ECMC Group, Inc.=4 hrs/wk, total=9 hrs/wk | |
| Jack O'Connell-related orgs=4 hrs/wk, ECMC Group, Inc.=4 hrs/wk, total=8 hrs/wk | |
| Maurice Salter-related orgs=4 hrs/wk, ECMC Group, Inc.=4 hrs/wk, total=8 hrs/wk | |
| --- | |
| Per the Form 990 Instructions, ECMC Group is required to provide | |
| the hours worked by officers and key employees of ECMC Group for | |
| ECMC Group and its related organizations. See details below: | |
| Richard Boyle-related orgs=7 hrs/wk, ECMC Group, Inc.=75 hrs/wk, total=82 hrs/wk | |
| Gregory Van Guilder-related orgs=6 hrs/wk, ECMC Group, Inc.=51 hrs/wk, total=57 hrs/wk | |
| Daniel Fisher-related orgs=25 hrs/wk, ECMC Group, Inc.=25 hrs/wk, total=50 hrs/wk | |
| Heather Renner-related orgs=1 hrs/wk, ECMC Group, Inc.=41 hrs/wk, total=42 hrs/wk | |
| David Hawn-related orgs=46 hrs/wk, ECMC Group, Inc.=11 hrs/wk, total=57 hrs/wk | |
| Edward Spear-related orgs=56 hrs/wk, ECMC Group, Inc.=0 hrs/wk, total=56 hrs/wk | |
| Heidi Johnson-related orgs=51 hrs/wk, ECMC Group, Inc.=4 hrs/wk, total=55 hrs/wk | |
| Roberta Sweeney-related orgs=0 hrs/wk, ECMC Group, Inc.=40 hrs/wk, total=40 hrs/wk | |
| Fred Chambers=related orgs=36 hrs/wk, ECMC Group, Inc.=3 hrs/wk, total=39 hrs/wk | |
| Amedeo Minutolo=related orgs=37 hrs/wk, ECMC Group, Inc.=12 hrs/wk, total=49 hrs/wk | |
| Bradley Totman=related orgs=37 hrs/wk, ECMC Group, Inc.=13 hrs/wk, total=50 hrs/wk | |
| Paul Valentino=related orgs=39 hrs/wk, ECMC Group, Inc.=10 hrs/wk, total=49 hrs/wk | |
| James Murray-related orgs=0 hrs/wk, ECMC Group, Inc.=0 hrs/wk, total=0 hrs/wk | |
| Steven Wellvang-related orgs=37 hrs/wk, ECMC Group, Inc.=6 hrs/wk, total=43 hrs/wk | |
| --- | |
| James Murray, a former Director, had a consulting agreement in 2011. | |
| --- |
Schedule R IRS990ScheduleR
Form990 Schedule R Part I Form990ScheduleRPartI (2 entries)
| Address Line1AddressUS/AddressLine1 | CityAddressUS/City | StateAddressUS/State | ZIP CodeAddressUS/ZIPCode | EINEIN | Primary ActivitiesPrimaryActivities | Legal Domicile StateLegalDomicileState | Total IncomeTotalIncome | EOY AssetsEOYAssets | Business Name Line1DirectControllingEntityName/BusinessNameLine1 |
|---|---|---|---|---|---|---|---|---|---|
| OAKDALE STUDENT LOAN FUNDING LLC | |||||||||
| 1 IMATION PLACE BLDG 2 | OAKDALE | MN | 551283422 | 271914648 | Holding FFELP Loans | DE | 1326554 | 38177186 | ECMC GROUP INC |
| PREMIERE CREDIT OF NORTH AMERICA LLC | |||||||||
| 2002 WELLESLEY BLVD 100 | INDIANAPOLIS | IN | 46219 | 352085743 | Accounts Receivable Management | IN | ECMC HOLDINGS CORP | ||
Form990 Schedule R Part II Form990ScheduleRPartII (2 entries)
| Address Line1AddressUS/AddressLine1 | CityAddressUS/City | StateAddressUS/State | ZIP CodeAddressUS/ZIPCode | EINEIN | Primary ActivitiesPrimaryActivities | Legal Domicile StateLegalDomicileState | Exempt Code SectionExemptCodeSection | Public Charity StatusPublicCharityStatus |
|---|---|---|---|---|---|---|---|---|
| EDUCATIONAL CREDIT MGMT CORP | ||||||||
| 1 IMATION PLACE BLDG 2 | OAKDALE | MN | 551283422 | 411778617 | GUARANTOR | MN | 501(c)(3) | Line 9 |
| ECMC FOUNDATION | ||||||||
| 1 IMATION PLACE BLDG 2 | OAKDALE | MN | 551283422 | 411990628 | Promote Education | DE | 501(c)(3) | Line 11B II |
Form990 Schedule R Part IV Form990ScheduleRPartIV (6 entries)
| Address Line1AddressUS/AddressLine1 | CityAddressUS/City | StateAddressUS/State | ZIP CodeAddressUS/ZIPCode | EINEIN | Primary ActivityPrimaryActivity | Legal Domicile StateLegalDomicileState | Business Name Line1DirectControllingEntityName/BusinessNameLine1 | Type Of EntityTypeOfEntity | Share Of Total IncomeShareOfTotalIncome | Share Of EOY AssetsShareOfEOYAssets | Percentage OwnershipPercentageOwnership |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ECMC HOLDINGS CORPORATION | |||||||||||
| 1 IMATION PLACE BLDG 2 | OAKDALE | MN | 551283422 | 411991992 | Strategic Oversight | DE | ECMC GROUP INC | C | 42746436 | 37115383 | 1.00000 |
| EDUCATIONAL CREDIT SERVICES CO | |||||||||||
| 1 IMATION PLACE BLDG 2 | OAKDALE | MN | 551283422 | 411992001 | Private Loans | DE | NA | C | |||
| ECMC RECORDS & REC MGMT CORPORATION | |||||||||||
| 1 IMATION PLACE BLDG 2 | OAKDALE | MN | 551283422 | 411989959 | Document Management | DE | NA | C | |||
| ECMC MANAGEMENT SERVICES CORPORATION | |||||||||||
| 1 IMATION PLACE BLDG 2 | OAKDALE | MN | 551283422 | 411989960 | Management Services | DE | NA | C | |||
| ECMC TECHNOLOGY SERVICES CORPORATION | |||||||||||
| 1 IMATION PLACE BLDG 2 | OAKDALE | MN | 551283422 | 411989958 | Technology Services | DE | NA | C | |||
| ECMC SOLUTIONS CORPORATION | |||||||||||
| 1 IMATION PLACE BLDG 2 | OAKDALE | MN | 551283422 | 271854584 | Default Prevention | DE | NA | C | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Ann Rents Royalties | false | ReceiptOfIntAnnRentsRoyalties |
| Gift Grant Or Cap Contr To Other Org | true | GiftGrantOrCapContrToOtherOrg |
| Gift Grant Or Cap Contr Fr Other Org | true | GiftGrantOrCapContrFrOtherOrg |
| Loans Or Guarantees To Other Org | false | LoansOrGuaranteesToOtherOrg |
| Loans Or Guarantees From Other Org | false | LoansOrGuaranteesFromOtherOrg |
| Sale Of Assets To Other Org | false | SaleOfAssetsToOtherOrg |
| Purchase Of Assets From Other Org | false | PurchaseOfAssetsFromOtherOrg |
| Exchange Of Assets | false | ExchangeOfAssets |
| Rental Of Facilities To Other Orgs | false | RentalOfFacilitiesToOtherOrgs |
| Rental Of Facilities Fr Other Orgs | false | RentalOfFacilitiesFrOtherOrgs |
| Perform Of Services For Other Orgs | false | PerformOfServicesForOtherOrgs |
| Perform Of Services By Other Orgs | false | PerformOfServicesByOtherOrgs |
| Sharing Of Facilities | true | SharingOfFacilities |
| Sharing Of Paid Employees | true | SharingOfPaidEmployees |
| Reimbursement Paid To Other Org | false | ReimbursementPaidToOtherOrg |
| Reimbursement Paid By Other Org | true | ReimbursementPaidByOtherOrg |
| Other Transfer To Other Org | false | OtherTransferToOtherOrg |
| Other Transfer From Other Org | false | OtherTransferFromOtherOrg |
Transactions Related Orgs Table TransactionsRelatedOrgsTable (15 entries)
| Transaction TypeTransactionType | Amount InvolvedAmountInvolved | Method Of Amt DeterminationMethodOfAmtDetermination |
|---|---|---|
| ECMC FOUNDATION | ||
| b | 65053498 | Allocation |
| ECMC FOUNDATION | ||
| m | 392952 | Allocation |
| ECMC FOUNDATION | ||
| n | 234507 | Allocation |
| ECMC FOUNDATION | ||
| p | 154184 | Allocation |
| EDUCATIONAL CREDIT MANAGEMENT CORPORATION | ||
| c | 119053498 | Allocation |
| EDUCATIONAL CREDIT MANAGEMENT CORPORATION | ||
| m | 26993239 | |
| EDUCATIONAL CREDIT MANAGEMENT CORPORATION | ||
| n | 26781174 | |
| EDUCATIONAL CREDIT MANAGEMENT CORPORATION | ||
| p | 12211757 | |
| ECMC HOLDINGS CORPORATION | ||
| m | 1327546 | |
| ECMC HOLDINGS CORPORATION | ||
| n | 487063 | |
| ECMC HOLDINGS CORPORATION | ||
| p | 896300 | |
| ECMC RECORDS & RECEIVABLE MANAGEMENT CORPORATION | ||
| m | 92059 | |
| ECMC SOLUTIONS CORPORATION | ||
| m | 2972799 | |
| ECMC SOLUTIONS CORPORATION | ||
| n | 1336233 | |
| ECMC SOLUTIONS CORPORATION | ||
| p | 666582 | |