2011-08-10T12:57:07-07:00 2010-12-31 BAKER TILLY VIRCHOW KRAUSE LLP 225 S 6TH ST STE 2300 MINNEAPOLIS MN 55402 990 2010-01-01 411991995 ECMC GROUP INC ECMC 6512210566 1 IMATION PLACE BUILDING 2 OAKDALE MN 55128 GREGORY VANGUILDER 6512210566 2011-08-10 LAWRENCE H MOHR CPA 6128764500 2010 2016-02-24 21:20:13Z RICHARD BOYLE 1 IMATION PLACE BLDG 2 OAKDALE MN 55128 27452333 false X N/A X 2000 DE 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, college access, retention and success. ECMC Group also funds the programs and initiatives of ECMC Foundation. 8 7 19 0 0 16500209 12690208 12986346 14710913 201820 51212 0 29688375 27452333 2425209 2690208 0 3411469 3281586 0 0 5279170 18760773 11115848 24732567 18572527 2719766 62526575 106860280 2889492 44503431 59637083 62356849 X ECMC Group supports the exempt purpose of ECMC by providing management services for higher false false 6496785 2554891 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. 2690208 2690208 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. 798108 GOVERNMENT RELATIONS FUNCTIONS AS A CENTRAL REPOSITORY TO ENABLE SHARING OF INFORMATION AMOUNG 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. 8299816 Support and services supplied to ECMC Group, Inc. related organizations to further tax exempt purposes. 8299816 9985101 true true false false false false false false false true true true true true false false true false false false false false false false false false true false true false false false false false true false false false false false false true true true true false true 38 0 true 19 true false false false false false false false false false false X 8 7 false false false false true true true true true false false true true true true true true true true false NM X GREGORY VANGUILDER 6512210566 1 IMATION PLACE BLDG 2 OAKDALE MN 55128 X ROBERT STEIN 9.00 X 77595 7500 0 GARY COOK 5.00 X 73595 5000 0 ROBERTA COOPER RAMO 5.00 X 71595 3000 0 JOHN DEPODESTA 12.00 X 81095 9000 0 EDWARD JENNINGS 5.00 X 65595 3000 0 I KING JORDAN 5.00 X 72095 2000 0 JAMES MCKEON 5.00 X 61095 6000 0 RICHARD BOYLE 63.00 X X 1032758 0 66669 GREGORY VANGUILDER 42.00 X 458634 0 53397 STEVEN WELLVANG 20.00 X 507669 0 57225 DANIEL FISHER 5.00 X 0 242760 49506 KATHLEEN KING 4.00 X 240889 0 35577 HEIDI JOHNSON 1.00 X 225696 0 47114 MARIANNA O'BRIEN 1.00 X 180027 0 7235 HEATHER RENNER 40.00 X 139589 0 26641 EDWARD SPEAR 1.00 X 368391 0 43871 ROBERTA SWEENEY 32.00 X 308673 0 33934 JAMES MURRAY 0 X 13333 29242 THERESA SHAW 0 X 200004 4178328 307502 421169 11 true true false ED FINANCIAL PO BOX 36014 KNOXVILLE TN 37930 Loan Servicing 811675 PROVECTUS BUS DEV SVC 1936 KENWOOD PARKWAY MINNEAPOLIS MN 55405 Consulting 188352 ARNOLD & PORTER LLP 555 TWELFTH ST NW WASHINGTON DC 20004 Consulting 184892 CLARK & WEINSTOCK 437 MADISON AVE 9TH FLR NEW YORK NY 10022 Consulting 165203 SGF SOFTWARE COMPANY 2751 HENNEPIN AVE S 115 MINNEAPOLIS MN 55408 IT Consulting Services 143514 10 12690208 12690208 Management Services 900003 12156022 3856206 Student Loan Portfolio 900099 2554891 14710913 51212 51212 27452333 10854707 3907418 2690208 2690208 2056972 181009 1875963 0 997101 127730 869371 0 64256 10194 54062 0 113954 11607 102347 0 49303 7821 41482 0 319868 302752 17116 0 188551 186 188365 0 2148929 1732977 415952 0 4305 0 4305 0 303259 42847 260412 0 47777 3290 44487 0 489044 17888 471156 0 193354 46368 146986 0 4523 2182 2341 0 492100 492100 0 0 1877169 1875000 2169 0 53093 2937 50156 0 Loss on subsidiary 10049158 0 10049158 0 Loss on student loans held 2417951 2417951 0 0 Usage on shared assets 170700 19879 150821 0 Miscellaneous expense 992 175 817 0 24732567 9985101 14747466 0 27991156 8688331 87398 2501264 21734 14607 3640 664475 18592 2169 16423 13338083 13747390 15833464 65671075 375000 5251100 15181715 62526575 106860280 2560433 2254524 41000000 329059 1248907 2889492 44503431 X 59637083 62356849 59637083 62356849 62526575 106860280 2719766 X false true true X false X X X false false false EDU CREDIT MGMT CORP 411778617 9 true true true 798108 1 798108 0 0 0 0 0 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 18592 2169 16423 16423 ECMC Holdings Corporation stock 1000 C ECMC Holdings Corp paid-in capital 13746390 C 13747390 Student loan receivable 65671075 F 65671075 Due from Educational Credit Management Corporation 14290582 Due from ECMC Holdings Corporation 744560 Due from ECMC Solutions 92343 Due from ECMC Foundation 41282 Due from Records and Receivable Management Corporation 10873 Security Deposits 1800 Due from Educational Credit Services Company 275 15181715 Due to Educational Credit Management Corporation 744087 Due to ECMC Holdings Corporation 350701 Due to ECMC Foundation 154119 1248907 true ECMC FOUNDATION 1 IMATION PLACE BLDG 2 OAKDALE MN 55128 411990628 501(C)(3) 2690208 Gen Support 1 0 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. X true true X X X X true true false false true false true false false RICHARD BOYLE 469631 370500 192627 51825 14844 1099427 GREGORY VANGUILDER 266269 183264 9101 34743 18654 512031 STEVEN WELLVANG 304269 186757 16643 36571 20654 564894 DANIEL FISHER 159892 72576 10292 25053 24454 292267 KATHLEEN KING 156916 73774 10199 23733 11844 276466 HEIDI JOHNSON 140315 77650 7731 23160 23954 272810 MARIANNA O'BRIEN 12405 79834 87788 5801 1435 187263 HEATHER RENNER 124391 12500 2698 14626 12015 166230 EDWARD SPEAR 215766 142120 10505 30776 13094 412261 ROBERTA SWEENEY 198820 99143 10710 28034 5901 342608 JAMES MURRAY 13333 29242 13333 29242 THERESA SHAW 200004 200004 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 4a MARIANNA O'BRIEN RECEIVED A SEVERANCE PAYMENT OF $82,500 IN 2010. Pt I Line 4b RICHARD J. BOYLE PARTICIPATED IN A 457(F) PLAN. HE RECEIVED AN EMPLOYER CONTRIBUTION OF $4,100. 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. THERESA SHAW Former COO 200004 Consultant false 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, 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 Support and services supplied to ECMC Group, Inc. related organizations to further tax exempt purposes. Expenses $0 including grants of $0. Revenue $8,299,816 Pt VI-A, Line 6 Each Director of the ECMC Group, Inc.'s Board of Directors is a member of ECMC Group, Inc. In 2010, there were eight members of the Board of Directors and, therefore, eight members of the corporation. Membership terminates upon the termination of such member's director status on the Board of Directors. There are no stockholders. Pt VI-A, 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-A, Line 7b The governing body and the member are the same individuals. Form 990, Part III, Line 4d SUPPORT AND SERVICES SUPPLIED TO ECMC GROUP, INC. 0. 0. 8299816. Pt VI-B, 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 after it has been filed. - Pt VI-B, 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 where they may have a conflict of interest. - Pt VI-B, 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-B, 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 2010, the Committee worked with executive compensation experts from Towers Watson, a global compensation consulting organization, to identify appropriate CEO and senior executive compensation packages and provide a written opinion on the reasonableness of this compensation. ECMC Group is comprised of both nonprofit and for-profit entities. The market analysis performed by Towers Watson includes salary and incentive data from an appropriate peer group. - Pt VI-C, Line 17 States to file Form 990: New Mexico - Pt VI-C, 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 details below: Robert Stein- related orgs=5 hrs/wk, ECMC Group, Inc.=9 hrs/wk, total=14 hrs/wk Gary Cook- related orgs=4 hrs/wk, ECMC Group, Inc.s=5 hrs/wk, total=9 hrs/wk Roberta Cooper Ramo- related orgs=4 hrs/wk, ECMC Group, Inc.=5 hrs/wk, total=9 hrs/wk John Depodesta- related orgs=4 hrs/wk, ECMC Group, Inc.=12 hrs/wk, total=16 hrs/wk Edward Jennings- related orgs=4 hrs/wk, ECMC Group, Inc.=5 hrs/wk, total=9 hrs/wk I. King Jordan- related orgs=3 hrs/wk, ECMC Group, Inc.=5 hrs/wk, total=8 hrs/wk James McKeon- related orgs=4 hrs/wk, ECMC Group, Inc.=5 hrs/wk, total=9 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=19 hrs/wk, ECMC Group, Inc.=63 hrs/wk, total=82 hrs/wk Gregory VanGuilder- related orgs=20 hrs/wk, ECMC Group, Inc.=42 hrs/wk, total=62 hrs/wk Steven Wellvang- related orgs=24 hrs/wk, ECMC Group, Inc.=20 hrs/wk, total=44 hrs/wk Daniel Fisher- related orgs=48 hrs/wk, ECMC Group, Inc.=5 hrs/wk, total=53 hrs/wk Kathleen King- related orgs=49 hrs/wk, ECMC Group, Inc.=4 hrs/wk, total=53 hrs/wk Heidi Johnson- related orgs=60 hrs/wk, ECMC Group, Inc.=1 hrs/wk, total=61 hrs/wk Marianna O'Brien- related orgs=0 hrs/wk, ECMC Group, Inc.=1 hrs/wk, total=1 hrs/wk Heather Renner- related orgs=2 hrs/wk, ECMC Group, Inc.=40 hrs/wk, total=42 hrs/wk Edward Spear- related orgs=55 hrs/wk, ECMC Group, Inc.=1 hrs/wk, total=56 hrs/wk Roberta Sweeney- related orgs=9 hrs/wk, ECMC Group, Inc.=32 hrs/wk, total=41 hrs/wk James Murray- related orgs=0 hrs/wk, ECMC Group, Inc.=0 hrs/wk, total=0 hrs/wk Theresa Shaw- related orgs=0 hrs/wk, ECMC Group, Inc.=0 hrs/wk, total=0 hrs/wk - James Murray, a former Director, and Theresa Shaw, a former officer, had consulting agreements in 2010. OAKDALE STUDENT LOAN FUNDING LLC 1 IMATION PLACE BLDG 2 OAKDALE MN 55128 271914648 Holding FFELP Loans DE -1687062 51083575 ECMC GROUP INC PREMIERE CREDIT OF NORTH AMERICA LLC 2002 WELLESLEY BLVD 100 INDIANAPOLIS IN 46219 352085743 Accounts Receivable Management IN ECMC HLDNGS CORP EDUCATIONAL CREDIT MGMT CORP 1 IMATION PLACE BLDG 2 OAKDALE MN 55128 411778617 GUARANTOR MN 501(C)(3) Line 9 ECMC FOUNDATION 1 IMATION PLACE BLDG 2 OAKDALE MN 55128 411990628 PROMOTE EDUCATION DE 501(C)(3) Line 11B II ECMC HOLDINGS CORPORATION 1 IMATION PLACE BLDG 2 OAKDALE MN 55128 411991992 Strategic Oversight DE ECMC GROUP INC C EDUCATIONAL CREDIT SERVICES CO 1 IMATION PLACE BLDG 2 OAKDALE MN 55128 411992001 PRIVATE LOANS DE ECMC HLDNGS CORP C ECMC RECORDS & REC MGMT CORP 1 IMATION PLACE BLDG 2 OAKDALE MN 55128 411989959 Document Management DE ECMC HLDNGS CORP C ECMC MANAGEMENT SERVICES CORP 1 IMATION PLACE BLDG 2 OAKDALE MN 55128 411989960 Management Services DE ECMC HLDNGS CORP C ECMC TECHNOLOGY SERVICES CORP 1 IMATION PLACE BLDG 2 OAKDALE MN 55128 411989958 Technology Services DE ECMC HLDNGS CORP C ECMC SOLUTIONS CORPORATION 1 IMATION PLACE BLDG 2 OAKDALE MN 55128 271854584 Default Prevention DE ECMC HLDNGS CORP C false true true false false false false false false false false false true true true true false false ECMC FOUNDATION b 2690208 Allocation ECMC FOUNDATION m 100815 Allocation EDUCATIONAL CREDIT MGMT CORP c 12690208 Allocation EDUCATIONAL CREDIT MGMT CORP m 4798917 Allocation EDUCATIONAL CREDIT MGMT CORP n 7111303 Allocation EDUCATIONAL CREDIT MGMT CORP o 2049838 EDUCATIONAL CREDIT MGMT CORP p 3534328 ECMC HOLDINGS CORPORATION m 508424 ECMC HOLDINGS CORPORATION n 90352 ECMC HOLDINGS CORPORATION p 386914 ECMC SOLUTIONS CORPORATION m 495054 ECMC SOLUTIONS CORPORATION p 54524