2024-10-02T07:28:16+00:00 2023-12-31 346565596 ERNST & YOUNG US LLP 155 N WACKER DRIVE CHICAGO IL 60606 990 2023-01-01 391090394 Ascendium Education Group Inc ASCE 6087332500 38 BUTTONWOOD COURT MADISON WI 53718 RICHARD GEORGE Chairman/Treasurer 6087332500 2024-10-02 true Lindsey Pigg P01268923 3128792000 2023-08-23 2023 2024-10-15 13:58:12Z RICHARD GEORGE 38 BUTTONWOOD COURT MADISON WI 53718 134909658 false X WWW.ASCENDIUMEDUCATION.ORG X 1967 WI ASCENDIUM EDUCATION GROUP, INC. OPERATES FOR THE SUPPORT AND BENEFIT OF ASCENDIUM EDUCATION SOLUTIONS, INC. 12 10 117 0 0 0 0 840000 1186288 24465304 77207155 545 9945 25305849 78403388 61144777 2000 0 14744063 16004166 0 0 -5292719 -3474519 70596121 12531647 -45290272 65871741 2599459075 3022286011 5887995 5766249 2593571080 3016519762 ASCENDIUM EDUCATION GROUP, INC. OPERATES FOR THE SUPPORT AND BENEFIT OF ASCENDIUM EDUCATION SOLUTIONS, INC. false false 4512417 Impact investing is one of the key ways we accomplish our mission to champion opportunity for everyone. Our investments advance change to postsecondary education and workforce training systems through new technologies and solutions so more learners can achieve their academic and career goals through Education related venture equity investments. 2345043 2000 1186288 ASCENDIUM EDUCATION GROUP, INC. OPERATES FOR THE SUPPORT AND BENEFIT OF ASCENDIUM EDUCATION SOLUTIONS, INC. (SOLUTIONS). SOLUTIONS SUPPORTS INCREASED ACCESS TO AND SUCCESS IN POSTSECONDAY EDUCATION AS A NATIONAL GRANTMAKER, A FEDERAL STUDENT LOAN GUARANTY AGENCY AND A PROVIDER OF STUDENT SUCCESS SERVICES. 6857460 true false false false false false false false false true true false false true false false true false false false false false false false false false false false true false false false false false false false false false false false false false true true true false false true 67 0 true 117 true false false false false false false false false false false false false X 12 10 false false false false false false false true true false false true true true true true true true true false X HOPE MERRY 6087332584 38 BUTTONWOOD COURT MADISON WI 53718 RICHARD D GEORGE - 23 CHAIR/PRES/CIO/TREAS 33.0 17.0 X X 859566 0 56216 DAVID J HANSON - 1 DIRECTOR, SECRETARY 2.0 1.0 X 9700 9700 0 EMERSON BRUMBACK - 1 DIRECTOR, VICE CHAIRMAN 2.0 1.0 X 9700 9700 0 JOAN PRINCE - 1 DIRECTOR 3.0 0 X 17200 0 0 LINDA HOESCHLER - 1 DIRECTOR 3.0 0 X 19400 0 0 MARIA GONZALEZ-KNAVEL - 1 DIRECTOR 2.0 1.0 X 9700 9700 0 MARY BURKE - 1 DIRECTOR 2.0 1.0 X 9700 9700 0 RICHARD A WEISS - 1 DIRECTOR 2.0 1.0 X 11900 11900 0 ROGER ERVIN - 1 DIRECTOR 3.0 0 X 23800 0 0 SCOTT KLUG - 1 DIRECTOR 2.0 1.0 X 10800 10800 0 THOMAS BOLDT - 1 DIRECTOR 3.0 0 X 23800 0 0 BRETT G LINDQUIST - 3 VP - STRATEGIC COMMUNICATIONS 6.0 39.0 X 288046 0 56272 ERIC C MALY - 3 VP - INFO SECURITY AND TECH 12.0 33.0 X 253606 0 48540 HOPE E MERRY - 3 CHIEF FINANCIAL OFFICER 27.0 23.0 X 419711 0 51905 JACQUELINE J FAIRBAIRN - 3 CHIEF COMPLIANCE OFFICER 1.0 44.0 X 0 314735 53430 KEITH WITHAM - 3 VP - EDUCATION PHILANTHROPY 44.0 0 X 210760 0 29812 MATTHEW R HARLOWE - 3 DIRECTOR INTERNAL AUDIT 43.0 2.0 X 251257 0 33598 MAUREEN L HARRILL - 3 VP - HUMAN RESOURCES 12.0 33.0 X 235078 0 42574 REBECCA E RAPP - 3 GEN CNSL/CHIEF PRIVACY OFFICER/ASST SECRETARY 31.0 14.0 X 299538 0 54170 ALEXANDER J HAMMOND SENIOR SECURITY ARCHITECT 45.0 0 X 177767 0 33519 BETHANY M MILLER - 3 DIRECTOR - LEARNING AND IMPACT 45.0 0 X 187930 0 23561 CATHERINE M RISSEEUW - 3 MRG - HR TECHNOLOGY & COMP 45.0 0 X 149116 0 44132 JENNIFER M KRUEGER - 3 DEPUTY GENERAL COUNSEL 45.0 0 X 168311 0 42322 RICHARD T SCHICK - 3 SR IT ARCHITECTURAL ENGINEER 45.0 0 X 155382 0 23517 AMY S KERWIN - 3 VP - EDUCATION PHILANTHROPY 44.0 1.0 X 194043 0 19462 3995809 376235 613030 44 false true false MORGAN STANLEY 2000 Westchester Ave Purchase NY 10577 Investment Fees 1124912 APPLIED TECH SOLUTIONS LLC 150 N Sunny Slope Rd Ste 200 Milwaukee WI 53005 Information Services 770139 Ernst & Young US LLP 200 Plaza Dr Secaucus NJ 07094 Audit/Tax Service 276189 WIPFLI LLP PO Box 8010 Wausau WI 54402 Consulting 124081 4 0 Contracted Revenue Share 900099 1186288 1186288 0 0 0 0 1186288 80483786 80483786 0 0 53227899 1740 56504569 1701 -3276670 39 -3276631 -3276631 MISCELLANEOUS REVENUE 900099 9945 9945 0 0 0 0 9945 78403388 1186288 0 77217100 X 2000 2000 4352991 1615822 2737169 9079494 5400071 3679423 679788 404307 275481 1296058 770837 525221 595835 354376 241459 145947 48163 97784 233372 203338 30034 5637329 5637329 3668210 517664 3150546 0 130240 107126 23114 2256733 427957 1828776 850010 5453 844557 280087 229917 50170 213345 133717 79628 1172801 790 1172011 1621706 72 1621634 SERVICE ARRANGEMENT FEES 2666988 559676 2107312 THIRD PARTY SERVICE EXPENSE 5660945 1188798 4472147 CORP SUPP FUNCT ALLOCATION -28217379 -5168581 -23048798 MISCELLANEOUS 205147 55957 149190 0 0 0 0 12531647 6857460 5674187 0 4929 4946 977260130 1079633598 0 167272721 115716607 0 0 0 0 2575000 5645000 0 2183564 2003438 42687542 2484993 41298961 40202549 681330 0 1382479459 1748426083 17548500 20173500 8154481 10480290 2599459075 3022286011 5786125 5655744 0 0 0 0 0 0 0 0 0 0 0 0 0 0 101870 110505 5887995 5766249 X 2593571080 3016519762 0 0 0 0 0 2593571080 3016519762 2599459075 3022286011 X 65871741 257076942 0 0 0 100000000 X false true X true false X X 1 ASCENDIUM EDUCATION SOLUTIONS INC 391853833 9 true 23204492 0 1 23204492 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0.0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0.0 0 0.0 X true false false false false false false false false false false false false false false true 0 0 0 0 0 0 4413829 4413829 35590889 1851506 33739383 845153 394792 450361 1837671 238695 1598976 40202549 GSV FUND INVESTMENT 27558309 F RETHINK EDUCATION INVESTMENT 21485879 F BLACKROCK - INDEX FUND 242208417 F VANGUARD - INDEX FUND 236816593 F LEARN CAPITAL VENTURE PARTNERS 84366338 F DEGREED, INC. 999998 C UDEMY INC. EDUNAV, INC. 500000 C PABTWF 13986021 F MANAGED, MUTUAL & INDEX FUNDS 1102713225 F NEW U VENTURE PTNRS FUND,LP 8977918 F NEW MARKETS EDU PARTNERS III INVESTMENT 2307397 F ACHIEVE PARTNERS EDTECH BUYOUT FUND, LP 2233703 F VC 414 FUND I, LP 100000 C GREEN STREET IMPACT FUND I 2970560 F GENER8TOR FUND VIII 1201725 F 1748426083 INTERCOMPANY PAYABLE 89482 PROPERTY TAXES 565 FINANCE LEASE LIABILITY 19443 MISC. LIABILITIES 1015 110505 X X X X X false false false false false false false false false RICHARD D GEORGE - 23 CHAIR/PRES/CIO/TREAS 394725 0 461176 0 3665 0 19200 0 37016 0 915782 0 0 0 AMY S KERWIN - 3 VP - EDUCATION PHILANTHROPY 38689 0 155000 0 354 0 13052 0 6410 0 213505 0 0 0 JACQUELINE J FAIRBAIRN - 3 CHIEF COMPLIANCE OFFICER 0 147173 0 166240 0 1322 0 19560 0 33870 0 368165 0 0 MATTHEW R HARLOWE - 3 DIRECTOR INTERNAL AUDIT 139789 0 111200 0 268 0 16248 0 17350 0 284855 0 0 0 MAUREEN L HARRILL - 3 VP - HUMAN RESOURCES 130518 0 101116 0 3444 0 15329 0 27245 0 277652 0 0 0 BRETT G LINDQUIST - 3 VP - STRATEGIC COMMUNICATIONS 136213 0 151133 0 700 0 17985 0 38287 0 344318 0 0 0 ERIC C MALY - 3 VP - INFO SECURITY AND TECH 151278 0 101610 0 718 0 16592 0 31948 0 302146 0 0 0 HOPE E MERRY - 3 CHIEF FINANCIAL OFFICER 228076 0 191171 0 464 0 19523 0 32382 0 471616 0 0 0 REBECCA E RAPP - 3 GEN CNSL/CHIEF PRIVACY OFFICER/ASST SECRETARY 142696 0 156356 0 486 0 18831 0 35339 0 353708 0 0 0 KEITH WITHAM - 3 VP - EDUCATION PHILANTHROPY 180598 0 29703 0 459 0 14524 0 15288 0 240572 0 0 0 ALEXANDER J HAMMOND SENIOR SECURITY ARCHITECT 153409 0 24083 0 275 0 13499 0 20020 0 211286 0 0 0 JENNIFER M KRUEGER - 3 DEPUTY GENERAL COUNSEL 143379 0 24466 0 466 0 13775 0 28547 0 210633 0 0 0 BETHANY M MILLER - 3 DIRECTOR - LEARNING AND IMPACT 167746 0 19878 0 306 0 13214 0 10347 0 211491 0 0 0 CATHERINE M RISSEEUW - 3 MRG - HR TECHNOLOGY & COMP 126537 0 21400 0 1179 0 11708 0 32424 0 193248 0 0 0 RICHARD T SCHICK - 3 SR IT ARCHITECTURAL ENGINEER 139411 0 15538 0 433 0 12315 0 11202 0 178899 0 0 0 Form 990, Part VI, Line 11b Review of form 990 by governing body ON AN ANNUAL BASIS, THE CHAIRMAN OF THE BOARD, PRESIDENT AND CEO, THE AUDIT COMMITTEE AND BOARD REVIEWS THE FORM 990 PRIOR TO FILING. THE CONFLICTS OF INTEREST QUESTIONNAIRES ARE COMPLETED BY EACH DIRECTOR AND REVIEWED PRIOR TO FILING THE FORM 990. Form 990, Part VI, Line 12c Conflict of interest policy ANNUALLY, DIRECTORS AND OFFICERS SIGN A CONFLICT OF INTEREST DOCUMENT WHICH DISCLOSES ANY CONFLICTS. THE SIGNED DOCUMENTS ARE REVIEWED ANNUALLY BY THE CHAIRMAN OF THE BOARD. IF A DISCLOSED CONFLICT OCCURS, THE INDIVIDUAL ABSTAINS FROM DISCUSSION AND VOTING ON TOPICS WHERE A CONFLICT OF INTEREST EXISTS. ALL DIRECTORS, OFFICERS AND EMPLOYEES ARE SUBJECT TO THE HUMAN RESOURCES CODE OF ETHICS TO MAINTAIN THE HIGHEST ETHICAL AND LEGAL STANDARDS OF BUSINESS CONDUCT. Form 990, Part VI, Line 15a Process to establish compensation of top management official THE COMPENSATION OF THE CEO AND ALL OF THE OFFICERS IS DETERMINED ANNUALLY BY THE PERSONNEL POLICY COMMITTEE OF THE BOARD OF DIRECTORS. THE CEO IS ROUTINELY EXCUSED AND ABSTAINS FROM DISCUSSION AND/OR VOTING ON ANY MATTERS RELATED TO HIS OWN COMPENSATION AND BENEFITS. THE PERSONNEL POLICY COMMITTEE'S REPORT IS SUBMITTED TO THE BOARD OF DIRECTORS FOR APPROVAL. THE DECISIONS ARE DOCUMENTED IN THE BOARD MINUTES. EVERY TWO TO THREE YEARS, AN INDEPENDENT COMPENSATION STUDY IS PERFORMED, LAST COMPENSATION STUDY WAS PERFORMED IN 2022. Form 990, Part VI, Line 15b Process to establish compensation of other employees THE COMPENSATION OF THE CEO AND ALL OF THE OFFICERS IS DETERMINED ANNUALLY BY THE PERSONNEL POLICY COMMITTEE OF THE BOARD OF DIRECTORS. THE CEO IS ROUTINELY EXCUSED AND ABSTAINS FROM DISCUSSION AND/OR VOTING ON ANY MATTERS RELATED TO HIS OWN COMPENSATION AND BENEFITS. THE PERSONNEL POLICY COMMITTEE'S REPORT IS SUBMITTED TO THE BOARD OF DIRECTORS FOR APPROVAL. THE DECISIONS ARE DOCUMENTED IN THE BOARD MINUTES. EVERY TWO TO THREE YEARS, AN INDEPENDENT COMPENSATION STUDY IS PERFORMED, LAST COMPENSATION STUDY WAS PERFORMED IN 2022. Form 990, Part VI, Line 19 Required documents available to the public FEDERAL TAX LAW DOES NOT REQUIRE THAT SUCH DOCUMENTS BE MADE PUBLICLY AVAILABLE. DOCUMENTS ARE AVAILABLE UPON SPECIFIC REQUEST. Form 990, Part VII, Section A, Line 1a PART VII, SECTION A, QUESTION 1A (1) DIRECTORS NORMALLY ATTEND 3-4 BOARD MEETINGS AND 3-4 COMMITTEE MEETINGS PER YEAR IN ADDITION TO TELEPHONIC CONFERENCES AND INDIVIDUAL MEETINGS WITH OFFICERS. DIRECTORS DEVOTE AN AVERAGE OF 1-3 HOURS PER WEEK TO THEIR POSITION(S). (2) COMPENSATION LINE INCLUDES COMPENSATION FOR GENERAL COUNSEL SERVICES AND AFFILIATE GROUP RESPONSIBILITIES. INSIDE DIRECTORS ARE NOT ELIGIBLE FOR BOARD COMPENSATION. (3) NON-OPERATING OFFICER POSITION NOT SEPARATELY COMPENSATED. Form 990, Part IX, Line 24c PART IX, LINE 24C COSTS ARE CHARGED TO THE APPLICABLE MANAGING AREA AND THEN FURTHER ALLOCATED TO SUPPORTING SERVICES AND PROGRAMS THAT EACH AREA SUPPORTS. COSTS ARE ALLOCATED TO SUPPORTING SERVICES AND PROGRAMS BASED ON ESTIMATES MADE BY MANAGEMENT, TAKING INTO ACCOUNT THE NATURE OF THE EXPENSE AND HOW IT RELATES TO THE FUNCTIONAL AREAS. COSTS ARE TYPICALLY ALLOCATED BASED ON RESOURCES USED OR TIME AND EFFORT. Form 990, Part IX, Line 11g Other Fees CONSULTING - Total Expense: 384777, Program Service Expense: 127047, Management and General Expenses: 257730, Fundraising Expenses: ; OTHER PROFESSIONAL SERVICES - Total Expense: 568814, Program Service Expense: 356046, Management and General Expenses: 212768, Fundraising Expenses: ; DELTA DENTAL - Total Expense: 12749, Program Service Expense: 12749, Management and General Expenses: , Fundraising Expenses: ; TRANSFER PRICING SERVICES - Total Expense: 15750, Program Service Expense: 15750, Management and General Expenses: , Fundraising Expenses: ; RECRUITING - Total Expense: 3275, Program Service Expense: 3275, Management and General Expenses: , Fundraising Expenses: ; IT SPECIALIZED SERVICES - Total Expense: 2610103, Program Service Expense: 2797, Management and General Expenses: 2607306, Fundraising Expenses: ; RETIREMENT ADMINISTRATION - Total Expense: 72742, Program Service Expense: , Management and General Expenses: 72742, Fundraising Expenses: ; Form 990, Part XI, Line 9 Other changes in net assets or fund balances OPERATING FUND CONTRIBUTION TRANSFER TO AEG FROM ASCENDIUM EDUCATION SOLUTIONS, INC. - 100000000; ASCENDIUM EDUCATION SOLUTIONS INC 38 BUTTONWOOD CT MADISON WI 53718 391853833 GTY STDNT LNS WI 501(c)(3) 10 GROUP true NORTHSTAR EDUCATION SERVICES LLC 38 BUTTONWOOD CT MADISON WI 53718 352626495 SERVICE WI GROUP C Corporation -2694865 3290121 1 true false false false false false false false false false false false true false false false true true false false ASCENDIUM EDUCATION SOLUTIONS INC L 20956539 ACTUAL COST ASCENDIUM EDUCATION SOLUTIONS INC P 69187 ACTUAL COST ASCENDIUM EDUCATION SOLUTIONS INC Q 238603 ACTUAL COST NORTHSTAR EDUCATION SERVICES LLC L 1148907 ACTUAL COST