2020-11-12T18:30:42-06:00 2019-12-31 390859910 Baker Tilly Virchow Krause LLP 225 South 6th Street Suite 2300 Minneapolis MN 55402 990 2019-01-01 411990628 ECMC Foundation ECMC 6512210566 111 Washington Ave So 1400 Minneapolis MN 55401 Martin A Scanlon CFO & Treasurer 2020-11-12 true Lawrence H Mohr CPA P00447603 6128764500 2019 2021-01-29 14:40:06Z Peter J Taylor 111 Washington Ave So 1400 Minneapolis MN 55401 43379508 false X www.ecmcfoundation.org X 2000 DE ECMC Foundation is a grantmaking foundation focused on improving the educational outcomes of underserved youth through evidence-based innovation. 9 7 17 0 0 0 0 0 32616087 42877828 3682754 501680 36298841 43379508 37598547 37162021 0 2083033 2583377 0 0 1740406 2588373 41421986 42333771 -5123145 1045737 733045279 718792503 20623096 26518600 712422183 692273903 X To inspire and to facilitate improvements that affect educational outcomes, especially among underserved populations, through evidence-based innovation. false false 16658592 16658592 0 College Success. The Foundation supports two focus areas: College Success and Career Readiness; and uses a spectrum of funding structures, including strategic grantmaking and program-related investments. In 2019 the Foundation made grants and investments to 290 organizations (including 175 new grantees) in 33 states. The College Success focus area seeks to increase persistence and graduation rates of students who face systemic challenges in earning a bachelor's degree. These students include, but are not limited to, first-generation college students, students from low-income backgrounds and students of color. Understanding that many students begin their postsecondary pathways at community colleges, ECMC Foundation actively engages in opportunities to invest in transfer success. 16499240 16499240 0 Career Readiness. The Foundation supports two focus areas: College Success and Career Readiness; and uses a spectrum of funding structures, including strategic grantmaking and program-related investments. In 2019 the Foundation made grants and investments to 290 organizations (including 175 new grantees) in 33 states. The Career Readiness focus area is committed to improving postsecondary career and technical education (CTE) outcomes for students from underserved backgrounds. Grants made as part of the Career Readiness focus area typically fund intermediaries, institutions or organizations that are supporting, implementing, researching or evaluating credit-bearing postsecondary pathways for adult learners that lead to academic credentials and provide a pathway to careers paying family-sustaining wages. 720000 370000 0 Education Innovation Ventures. The Foundation supports two focus areas: College Success and Career Readiness; and uses a spectrum of funding structures, including strategic grantmaking and program-related investments. In 2019 the Foundation made grants and investments to 290 organizations (including 175 new grantees) in 33 states. ECMC Foundation's Education Innovation Ventures (EIV) program makes below-market-rate investments into nonprofit and for-profit ventures that seek to generate both social impact and financial returns. Complementing ECMC Foundation's strategic grantmaking, the EIV program uses a full spectrum of program-related investments-including debt and equity instruments-to improve educational outcomes and economic mobility among learners from underserved backgrounds. Financial returns are reinvested into additional program-related investments, allowing ECMC Foundation to recycle investment dollars and generate further positive impact on learners' lives. 4527699 2634189 500000 Other programs. Miscellaneous programs and activities for the furtherance of educational opportunities through grants, awards and research on the management of educational debt. 1000000 1000000 0 GO! Program. ECMC Foundation awards grants to the Generating Outcomes (GO!) Program, a corporate initiative to fund education innovation by funding ideas and partnerships that can be examined for effectiveness in the local communities of the ECMC Group, Inc. employees. To qualify for payment of a GO! Program grant, the awarded recipient must be a third-party nonprofit entity or a governmental partner, such as public schools, and expend the grant award for the purpose designated in the recipient's grant proposal. In 2019, ECMC Foundation awarded 76 grants ranging from $5,000 to $25,000 to recipients under the GO! Program. 0 0 0 Teacher and Leader Development. In December 2017, ECMC Foundation made the decision to close out the Teacher and Leader Development program. This program was created to invest in teacher and leader development focused on complex intellectual student work and initiatives that build the diversity pipelines into the teaching and school leader professions. Grants previously awarded by ECMC Foundation under the Teacher and Leader development program will continue to be issued through January 2020. Starting 2018, ECMC Foundation directed funding into their three remaining focus areas; College Success, Career Readiness and Education Innovation Ventures. 5527699 3634189 500000 39405531 true false false false false false false false false true true false false true true true true false false false false false false false false false true false true false false false false false false false false false false false false false true false false false true 20 0 17 true false false false false false false false false false false false false X 9 7 false false false false true true true true true false false true true true true true true true true false CA X X Martin A Scanlon 6512210566 111 Washington Ave So Ste 1400 Minneapolis MN 55401 Peter J Taylor President & Director, ECMC Foundation 40.0 0.0 X X 738224 0 126935 Diana J Ingram Director not paid by Foundation 1.0 9.0 X 0 122774 0 Jack O'Connell Director not paid by Foundation 2.0 8.0 X 0 126524 0 James V McKeon Director not paid by Foundation 2.0 13.0 X 0 167774 0 Jeremy J Wheaton President & CEO, ECMC Group, Inc. 0.0 40.0 X 0 1070579 109874 John F DePodesta Board Chair not paid by Foundation 2.0 15.0 X 0 180274 0 Julia S Gouw Director not paid by Foundation 1.0 6.0 X 0 125274 0 K Paul Singh Director not paid by Foundation 1.0 10.0 X 0 127774 0 Maurice M Salter Director not paid by Foundation 1.0 10.0 X 0 140274 0 Daniel S Fisher General Counsel/Corp Secretary not paid by Foundation 0.0 40.0 X 0 617831 88346 Lynn Alvarez VP, Foundation Programs and Strategy 40.0 0 X 126667 0 18641 Martin A Scanlon CFO & Treasurer not paid by Foundation 0.0 40.0 X 0 578981 80453 Alissa Santoro Office Manager & Executive Assistant 40.0 0 X 113625 0 22338 Jennifer E Zeisler Sr Dir, Program Management 40.0 0 X 159055 0 28588 Jessica E Haselton Dir, Program-Related Investments 40.0 0 X 134557 0 41125 Sarah Belnick Sr Dir, Program Management 40.0 0 X 129611 0 25583 Gregory A Van Guilder Former CFO not paid by Foundation, current CIO, ECMC Group, Inc. 0.0 40.0 X 0 1008187 92268 I King Jordan Former Director not paid by Foundation 0.0 0.0 X 0 30274 0 Richard J Boyle Former Director/CEO/President not paid by Foundation 0.0 0.0 X 0 16362 0 Roberta Cooper Ramo Former Director not paid by Foundation 0.0 0.0 X 0 75274 0 1401739 4388156 634151 6 true true false Chloe Capital SPV Manager LLC 119 S Cayuga St Ste 202 Ithaca NY 14850 Consulting Services 319500 The Fairmont Washington DC 2401 M St NW Washington DC 20037 Professional Services 124192 NORC at the University of Chicago 55 East Monroe St Ste 2000 Chicago IL 60603 Consulting 120412 Entangled Solutions LLC 2 Shaw Alley Fl 2 San Francisco CA 94105 Consulting Services 105527 4 0 0 0 0 0 0 377828 377828 0 0 42500000 0 42500000 0 42500000 42500000 A grant awarded in a prior year and partially cancelled in 2019 813211 500000 500000 Intercompany Servicing Revenue 900099 1680 1680 0 0 0 0 501680 43379508 500000 0 42879508 37162021 37162021 1010467 1010467 1263548 1154327 109221 56281 51416 4865 125509 114660 10849 127572 116545 11027 45635 45635 48775 48775 292693 292693 906160 0 906160 0 93591 76124 17467 10800 10800 204949 166604 38345 303556 303556 570599 495832 74767 83653 68002 15651 27458 27458 Miscellaneous Expense 504 504 0 0 0 0 42333771 39405531 2928240 0 19271649 23709235 0 0 0 0 72831 510229 225362 104044 284867 713069586 691875570 600000 2850000 0 0 733045279 718792503 425426 664075 20087961 25452329 0 0 109709 402196 20623096 26518600 X 712422183 692273903 712422183 692273903 733045279 718792503 1045737 -21194017 0 X false true X true X X 2 Educational Credit Management Corporation 411778617 9 true 37333771 0 ECMC Education Inc (formerly Zenith Education Group Inc) 472237488 2 true 5000000 0 2 42333771 0 true false false false false false false false false false false false false false false true 417350 223814 193536 92879 1548 91331 284867 Investment in ECMC Group, Inc. Apportioned Investment Pool 691875570 F 691875570 Due To ECMC Group, Inc. 362568 Due To Educational Credit Management Corporation 213 Due to ECMC Shared Services Company, LLC 33575 Due to ECMC Education, Inc. (formerly Zenith Education Group, Inc.) 5840 Lease Liabilities 402196 X 21394000 -21194017 1202 -21192815 42586815 792693 792693 43379508 41543000 1922 1922 41541078 792693 792693 42333771 Schedule D, Part XI, Line 2(a) Net unrealized loss on investments Net unrealized loss on investment in the ECMC Group, Inc. apportioned investment pool are $21,194,017. Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote The FIN 48 (ASC 470) disclosure in the ECMC Foundation financial statements reads as follows: "The Internal Revenue Service has determined that ECMC Foundation is exempt from federal income tax under Section 501(c)(3) of the Internal Revenue Code. ECMC Foundation is also exempt from state income tax. However, any unrelated business income may be subject to taxation. ECMC Foundation follows the accounting standards in evaluating uncertain tax positions. This guidance prescribes recognition threshold principles for the financial statement recognition of tax positions taken or expected to be taken on a tax return that are not certain to be realized. No liability has been recognized by ECMC Foundation for uncertain tax positions as of December 31, 2019 or 2018. ECMC Foundation's tax returns are subject to review and examination by federal and state authorities." Schedule D, Part XI, Line 2(d) Other revenues in audited financial statements not in form 990 Rounding Adjustment Because Dollars Are Reported in Thousands on the Audited Financial Statements - 1202 Schedule D, Part XI, Line 4(b) Other revenues in form 990 not in audited financial statements Investment Management Fee - 292693 A grant awarded in a prior year and partially cancelled in 2019. The award was correctly recorded in the prior year on ECMC Foundation's books. - 500000 Schedule D, Part XII, Line 2(d) Other expenses in audited financial statements not in form 990 Rounding Adjustment Because Dollars Are Reported in Thousands on the Audited Financial Statements - 1922 Schedule D, Part XII, Line 4(b) Other expenses in form 990 not in audited financial statements Investment Management Fee - 292693 A grant awarded in a prior year and partially cancelled in 2019. The award was correctly recorded in the prior year on ECMC Foundation's books. - 500000 true ECMC Education Inc (formerly Zenith Education Group Inc) 111 Washington Ave So Minneapolis MN 55401 472237488 501(C)(3) 5000000 Mission & Career Readiness Educational Credit Management Corporation 111 Washington Ave So Minneapolis MN 55401 411778617 501(C)(3) 2256993 College Success ECMC Group Inc 111 Washington Ave So Minneapolis MN 55401 411991995 501(C)(3) 50000 Education Innovation Ventures Achieving the Dream 8484 Georgia Ave Silver Spring MD 20910 271635830 501(C)(3) 510000 Career Readiness & Special Opportunities Active Minds 2001 S St NW Washington DC 20009 200587172 501(C)(3) 10000 General Support Adopt-A-Classroom Inc 401 Second Ave N Minneapolis MN 55401 650828272 501(C)(3) 10000 General Support African American Male Education Network Development Organization PO Box 151 Elk Grove CA 95759 711037144 501(C)(3) 15000 Program Support All-In Milwaukee 135 W Wells St Milwaukee WI 53203 832541054 501(C)(3) 250000 Special Opportunities Alpha House of Tampa Inc 201 S Tampania Ave Tampa FL 33609 592655523 501(C)(3) 15000 General Support America Achieves 100 W 33rd St New York NY 10001 273238471 501(C)(3) 675000 Career Readiness American Council on Education One DuPont Cir NW Washington DC 20036 530196573 501(C)(3) 25000 General Support Arizona State University Fulton Center 410 300 E University Dr Tempe AZ 85287 860196696 School 500000 College Success Arkansas Community Colleges 721 W 2nd St Little Rock AR 72201 710795889 501(C)(3) 601000 College Success Asia Society 725 Park Ave New York NY 10021 133234632 501(C)(3) 74980 Career Readiness Association of Community College Trustees 1101 17th St NW Washington DC 20036 526120210 501(C)(3) 115000 Career Readiness & Special Opportunities Auburn University Foundation 317 South College St Auburn University AL 36849 636022422 501(C)(3) 526081 College Success BestPrep 7100 Northland Cir N Minneapolis MN 55428 411265355 501(C)(3) 15000 General Support Beyond12 2101 Webster St Oakland CA 94612 271275246 501(C)(3) 15000 College Success Big Brothers Big Sisters of Greater Los Angeles 3150 N San Fernando Rd Los Angeles CA 90065 951904857 501(C)(3) 499576 College Success Bipartisan Policy Center 1225 Eye St NW Washington DC 20005 731628382 501(C)(3) 25000 Program Support Brooke School Foundation Inc 190 Cummins Highway Roslindale MA 02131 300015324 501(C)(3) 15000 General Support California Community Foundation 221 S Figueroa St Los Angeles CA 90012 953510055 501(C)(3) 45000 Program Support & Special Opportunities California State University Long Beach Research Foundation 6300 E State University Dr Long Beach CA 90815 956106694 501(C)(3) 541244 College Success Camp Odayin 3503 High Point Dr N Oakdale MN 55128 412014358 501(C)(3) 25000 General Support Capital IDEA Houston 2101 Crawford St Houston TX 77002 472462360 501(C)(3) 150000 Career Readiness Career Gear Houston 7500 Bellaire Blvd Houston TX 77036 200383035 501(C)(3) 15000 General Support Center for Law and Social Policy 1200 18th St NW Washington DC 20036 237000150 501(C)(3) 125000 Career Readiness Centreville Layton School 6201 Kennett Pike Centreville DE 19807 510232858 501(C)(3) 10000 Program Support Charles Drew University of Medicine and Science 1731 East 120th St Los Angeles CA 90059 956151774 501(C)(3) 10000 General Support Children's Choice for Hearing and Talking Sacramento 11100 Coloma Rd Rancho Cordova CA 95670 461362294 501(C)(3) 25000 General Support City Year 2331 Alhambra Blvd Sacramento CA 95817 222882549 501(C)(3) 25000 General Support Claremont Graduate University 150 E 10th St Claremont CA 91711 951664100 501(C)(3) 300000 College Success College Access Plan 871 E Washington Blvd Pasadena CA 91104 208371402 501(C)(3) 10000 General Support College Forward 505 E Huntland Dr Austin TX 78752 432003552 501(C)(3) 900000 College Success College Innovation Project LLC 1101 Lincoln Blvd Santa Monica CA 90403 815268169 150000 College Success College Success Foundation 15500 SE 30th Place Bellevue WA 98007 912036088 501(C)(3) 400125 College Success Colorado Nonprofit Development Center 789 Sherman St Denver CO 80203 841493585 501(C)(3) 75000 Career Readiness Communities In Schools National Office 2345 Crystal Dr Arlington VA 22202 581289174 501(C)(3) 150000 College Success Community Partners 1000 North Alameda St Los Angeles CA 90012 954302067 501(C)(3) 334808 Career Readiness & General Support Coro Southern California 1000 N Alameda St Los Angeles CA 90012 954274561 501(C)(3) 25400 General Support Covenant House Texas 1111 Lovett Blvd Houston TX 77006 760050882 501(C)(3) 15000 General Support Credit Abuse Resistance Education 66 Canal Center Plaza Alexandria VA 22314 810788458 501(C)(3) 25000 General Support DeLaSalle High School 1 DeLaSalle Dr Minneapolis MN 55401 410705834 501(C)(3) 10000 General Support Downtown Women's Center 442 South San Pedro St Los Angeles CA 90013 311597223 501(C)(3) 25000 General Support Driving Force Group Inc 11140 Rockbille Pike Rockville MD 20852 454641567 501(C)(3) 25000 General Support Eagleforce Robotics 9531 Bond Rd Elk Grove CA 95624 208381135 501(C)(3) 25000 General Support East Side Neighborhood Services 1700 2nd St NE Minneapolis MN 55413 410873798 501(C)(3) 25000 General Support EdSource 436 14th St Oakland CA 94612 942434900 501(C)(3) 50000 General Support Education Finance Institute 601 Lexington Ave New York NY 10022 831400442 501(C)(3) 75000 General Support Education Strategy Group 4716 Drummond Ave Chevy Chase MD 20815 611620831 291280 Career Readiness EquipHer Inc 17401 Commerce Park Blvd Tampa FL 33647 831072707 501(C)(3) 15000 General Support Folds of Honor 372 Ferndale Rd So Wayzata MN 55391 465531485 501(C)(3) 25000 General Support Food & Friends Inc 219 Riggs Rd NE Washington DC 20011 521648941 501(C)(3) 10000 General Support Foundation for the Los Angeles Community Colleges 770 Wilshire Blvd Los Angeles CA 90017 952587353 501(C)(3) 10000 General Support Four Paws to Freedom 2376 Zinfandel Dr Rancho Cordova CA 95670 471318087 501(C)(3) 25000 General Support Georgia Partnership for Excellence in Education Inc 270 Peachtree St NW Atlanta GA 30303 581974586 501(C)(3) 306900 College Success GradGuru 1188 Arch St Berkeley CA 94708 454898226 501(C)(3) 50000 College Success Grand Rapids Community College Foundation 142 Bostwick Ave Grand Rapids MI 49503 386100380 501(C)(3) 442208 College Success Green Dot Public Schools 1149 South Hill St Los Angeles CA 90015 954679811 501(C)(3) 15000 General Support Growth Public Schools 9320 Tech Center Dr Sacramento CA 95826 474456355 501(C)(3) 25000 General Support H2O for Life 1310 Highway 96E White Bear Lake MN 55110 260338552 501(C)(3) 25000 General Support Healing Women of Atlanta Inc 943 Sundew Dr SE CONYERS GA 30013 462626164 501(C)(3) 15000 General Support Hooked on Fishing Not on Violence Foundation 2245 Florin Rd Sacramento CA 95822 814448442 501(C)(3) 25000 General Support Hopewell Music Cooperative North 4350 Fremont Ave N MINNEAPOLIS MN 55412 460547282 501(C)(3) 25000 General Support Hostos Community College of the City University of New York 500 Grand Concourse Bronx NY 10451 134115114 501(C)(3) 10000 General Support iCivics 1035 Cambridge St Cambridge MA 02141 383796793 501(C)(3) 25000 General Support Impact Teen Drivers Fund 2210 21st St Sacramento CA 95818 260595165 501(C)(3) 10000 General Support Indiana University Foundation 1500 State Rd 46 Bloomington IN 47408 356018940 501(C)(3) 20000 General Support Ithaka Harbors Inc 101 Greenwich St New York NY 10006 133857105 501(C)(3) 203995 College Success Jeremiah Program 615 1st Ave NE Minneapolis MN 55413 411801834 501(C)(3) 45000 General Support John Burton Advocates for Youth 235 Montgomery St San Francisco CA 94104 812600695 501(C)(3) 525000 College Success John N Gardner Institute for Excellence in Undergraduate Education 123 East Main St Brevard NC 28712 260166817 501(C)(3) 650000 College Success Jordan Public Schools 500 Sunset Dr Jordan MN 55352 416003790 School 10000 General Support Junior Achievement of Sacramento 3800 Watt Ave Sacramento CA 95821 946080866 501(C)(3) 10000 General Support Junior Achievement of the Upper Midwest Inc 1800 White Bear Ave N Maplewood MN 55109 411424988 501(C)(3) 15000 General Support & Special Opportunities KIPP Minnesota 5034 North Oliver Ave Minneapolis MN 55430 208877750 501(C)(3) 10000 General Support LIFT 999 North Capitol St NE Washington DC 20002 522168409 501(C)(3) 150000 Career Readiness LOLA-Helping Women In Need 2283 Venture Dr LITHIA SPRINGS GA 30122 821166071 501(C)(3) 15000 General Support Los Angeles City College Foundation 855 N Vermont Ave Los Angeles CA 90029 956207819 501(C)(3) 25000 General Support Los Angeles Trade-Technical College Foundation 400 W Washington Blvd Los Angeles CA 90015 953813527 501(C)(3) 20000 General Support Mary's Center 2333 Ontario Rd NW Washington DC 20009 521594116 501(C)(3) 10000 General Support MDRC 200 Vesey St New York NY 10281 237379473 501(C)(3) 25000 Career Readiness Minds Matter Twin Cities 4912 Washburn Ave S Minneapolis MN 55410 455415388 501(C)(3) 25000 General Support Minnesota Colorectal Cancer Research Foundation 2294 Stanford Ct St Paul MN 55105 811144354 501(C)(3) 10000 General Support Mn Adult & Teen Challenge 740 E 24th St Minneapolis MN 55404 411517351 501(C)(3) 25000 General Support NAMI Minnesota (National Alliance on Mental Illness) 1919 University Ave W Minneapolis MN 55104 411317030 501(C)(3) 25000 General Support National Association of Counties Research Foundation 660 N Capitol St NW Washington DC 20001 530241255 501(C)(3) 150000 Career Readiness New America 740 15th St NW Washington DC 20005 522096845 501(C)(3) 120000 Career Readiness New York University Marron Institute 60 Fifth Ave New York NY 10011 135562308 501(C)(3) 301000 College Success Northern New Mexico College Foundation 921 N Paseo De Onate Espaola NM 87532 856000545 501(C)(3) 750000 Career Readiness Northern Voices 1660 County Rd B West Roseville MN 55113 411930941 501(C)(3) 25000 General Support Notre Dame High School of West Haven Inc One Notre Dame Way West Haven CT 06516 060646748 501(C)(3) 25000 General Support One Million Degrees 180 N Wabash Chicago IL 60601 421710230 501(C)(3) 15000 College Success Operation Restoration 2321 Thalia St New Orleans LA 70113 611791941 501(C)(3) 65000 Career Readiness Page Education Foundation 901 N 3rd St Minneapolis MN 55401 363605013 501(C)(3) 50000 General Support & Special Opportunities Partnership for College Completion 332 S Michigan Ave Chicago IL 60604 813500697 501(C)(3) 506600 College Success Patient Care Foundation of Los Angeles County 1055 West 7th St Los Angeles CA 90017 262974477 501(C)(3) 10000 General Support People Incorporated 2060 Centre Pointe Blvd St Paul MN 55120 410962296 501(C)(3) 25000 General Support People Serving People 614 Third St So Minneapolis MN 55415 411965067 501(C)(3) 25000 General Support Plaza Community Services 648 S Indiana St Los Angeles CA 90023 951691302 501(C)(3) 25000 General Support Posse Foundation 515 South Figueroa St Los Angeles CA 90071 133840394 501(C)(3) 12701 General Support Presidents and Fellows of Harvard College Office for Sponsored Programs Cambridge MA 02138 042103580 501(C)(3) 1849920 College Success/Leadership Collaborative Public Policy Institute of California 500 Washington St San Francisco CA 94111 943207299 501(C)(3) 103000 College Success & Program Support RAND Corporation 1776 Main St Santa Monica CA 90401 951958142 501(C)(3) 209401 College Success REMERGE 340 Auburn Ave NE Atlanta GA 30312 582509965 501(C)(3) 15000 General Support Research Foundation of the City University of New York 230 West 41st St New York NY 10036 131988190 501(C)(3) 1137214 Career Readiness & College Success Roadtrip Nation Ltd 1626 Placentia Ave Costa Mesa CA 92627 263889207 501(C)(3) 1015000 Career Readiness & College Success Ronald McDonald House Charities Upper Midwest 818 Fulton St SE Minneapolis MN 55414 411313107 501(C)(3) 25000 General Support Sacramento Loaves & Fishes 1351 North C St Sacramento CA 95811 680189897 501(C)(3) 25000 General Support San Francisco Unified School District 135 Van Ness Ave San Francisco CA 94102 946000416 501(C)(3) 10000 General Support Sanford School 6900 Lancaster Pike Hockessin DE 19707 510064331 501(C)(3) 10000 General Support School on Wheels Inc 3150 N San Fernando Rd Los Angeles CA 90065 954422640 501(C)(3) 15000 General Support Scripps College 1030 Columbia Ave Claremont CA 91711 951664123 501(C)(3) 119350 Special Opportunities Seattle Jobs Initiative 1200 12th Ave So Seattle WA 98144 470900181 501(C)(3) 750000 Career Readiness Sierra Forever Families 8928 Volunteer Ln Sacramento CA 95826 680002878 501(C)(3) 25000 General Support Sinclair Community College 444 West Third St Dayton OH 45402 310723444 501(C)(3) 480892 Career Readiness Single Mom Strong 7525 Auburn Blvd Citrus Heights CA 95610 810917372 501(C)(3) 25000 General Support Society for the Blind 1238 S St Sacramento CA 95811 941384666 501(C)(3) 25000 General Support Southern California Association of Nonprofit Housing 340 E 2nd St Los Angeles CA 90012 954019655 501(C)(3) 36000 General Support Southern California Grantmakers 1000 North Alameda St Los Angeles CA 90012 952831058 501(C)(3) 25000 General Support St Catherine University 2004 Randolph Ave St Paul MN 55105 410695509 501(C)(3) 10000 Program Support St Croix Preparatory Academy 4260 Stagecoach Trail North Stillwater MN 55082 900103622 501(C)(3) 10000 General Support St Olaf College 1520 St Olaf Ave Northfield MN 55057 410693979 501(C)(3) 10000 General Support State Higher Education Executive Officers Association 3035 Center Green Drive Boulder CO 80301 237167258 501(C)(3) 766833 College Success Stella and Charles Guttman Community College 50 W 40th St New York NY 10018 461371336 501(C)(3) 10000 General Support Summit Academy OIC 935 Olson Memorial Highway Minneapolis MN 55405 410908458 501(C)(3) 35000 General Support & Special Opportunities Supporting The Taylor House Inc PO Box 853 Roseville CA 95678 460748514 501(C)(3) 25000 General Support Tacoma Housing Development Group 902 South L St Tacoma WA 98405 810557198 501(C)(3) 10000 General Support Teacher's College Columbia University 525 West 120th St Box 21 New York NY NY 10027 131624202 501(C)(3) 100000 General Support Team Sacramento Judo 3079 Kilgore Rd Rancho Cordova CA 95670 010710812 501(C)(3) 25000 General Support Tennessee Higher Education Commission 404 James Robertson Pkwy Nashville TN 37219 626001445 501(C)(3) 647666 Career Readiness The Campaign for College Opportunity 1149 S Hill St Los Angeles CA 90015 200427622 501(C)(3) 510000 College Success & Special Opportunities The Center to Advance CTE 8484 Georgia Ave Silver Spring MD 20910 731086246 501(C)(3) 750000 Career Readiness The College Crusade of Rhode Island 134 Thurbers Ave Providence RI 02905 223031765 501(C)(3) 555000 College Success The Community Foundation for Northern Virginia 2940 Hunter Mill Rd Oakton VA 22124 510232459 501(C)(3) 30000 General Support The Forge For Families 3435 Dixie Dr Houston TX 77021 760485959 501(C)(3) 15000 General Support The Foundation for Maines Community Colleges 54 Lighthouse Cir South Portland ME 04106 271363414 501(C)(3) 74700 Career Readiness The Learning Centers at Fairplex 1101 W McKinley Ave Pomona CA 91768 954686764 501(C)(3) 50000 General Support The Lift Community Development Corporation 1740 Van Dyke St St Paul MN 55109 204130979 501(C)(3) 25000 General Support The Melting Pot Foundation 69 Belmont Ave Brooklyn NY 11212 473901620 501(C)(3) 20000 Program Support The Tennessee Higher Education Initiative 1006 Shelby Ave Nashville TN 37206 454531767 501(C)(3) 125000 Career Readiness The University of Texas Foundation PO Box 250 Austin TX 78767 741587488 501(C)(3) 135228 College Success The University of Toledo Foundation 4510 Dorr St Toledo OH 43615 346555110 501(C)(3) 400000 Special Opportunities Totino-Grace High School 1350 Gardena Ave NE Fridley MN 55432 416049228 501(C)(3) 25000 General Support uAspire 31 Milk St Boston MA 02109 461314848 501(C)(3) 540000 College Success UCLA Foundation 10920 Wilshire Blvd Los Angeles CA 90024 952250801 501(C)(3) 135000 General Support United Way of Central New Mexico 2340 Alamo Ave SE Albuquerque NM 87106 850277138 501(C)(3) 15000 General Support United Way of King County 720 Second Ave Seattle WA 98104 910565555 501(C)(3) 525000 College Success University at Buffalo Sponsored Project Services The UB Commons Buffalo NY 14228 141368361 501(C)(3) 10000 General Support University of Hawaii Foundation 1314 S King St Honolulu HI 96814 990085260 501(C)(3) 418334 College Success University of Southern California 1150 S Olive St Los Angeles CA 90015 951642394 501(C)(3) 10000 General Support University of Southern California Rossier School of Education 3470 Trousdale Pkwy Los Angeles CA 90089 951642394 501(C)(3) 150000 College Success University of Texas at San Antonio One UTSA Cir San Antonio TX 78249 741717115 501(C)(3) 313762 College Success Unusual Suspects 3719 Verdugo Rd Los Angeles CA 90065 954661312 501(C)(3) 10000 General Support Venn Foundation 1127 Barclay St Saint Paul MN 55106 814476503 501(C)(3) 320000 Education Innovation Ventures Virginia Commonwealth University Foundation PO Box 842039 Richmond VA 23284 540757884 501(C)(3) 361392 College Success Virginia Foundation for Community College Education 300 Arboretum Pl Richmond VA 23236 237004354 501(C)(3) 149160 Career Readiness Wausau School Foundation 415 Seymour St Wausau WI 54403 200287482 501(C)(3) 10000 General Support Whittier College 13406 Philadelphia St Whittier CA 90601 951644048 501(C)(3) 50000 General Support Williamson College of the Trades 106 S New Middletown Rd Media PA 19063 231352691 501(C)(3) 75000 General Support Woodrow Wilson National Fellowship Foundation 5 Vaughn Dr Princeton NJ 08540 210703075 501(C)(3) 2050314 Career Readiness/Leadership Collaborative World Education Inc 44 Farnsworth St Boston MA 02210 131804349 501(C)(3) 1128226 Career Readiness YMCA of the Greater Twin Cities 1801 University Ave SE Minneapolis MN 55414 452563299 501(C)(3) 10000 General Support 161 2 Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. Helping low-income students pursue higher education is core to ECMC Foundation's mission. ECMC Foundation closely monitors the use of the cash grants to ECMC Education, Inc. (formerly Zenith Education Group, Inc.) through reports to management and the Board of Directors on a regular basis. The remaining grants and assistance to the organizations listed in Part II further ECMC Foundation's mission and program evaluations are part of all grant projects funded. X true true X X X X false true false false true false true false false Richard J Boyle Former Director/CEO/President not paid by Foundation 0 0 0 0 0 16362 0 0 0 0 0 16362 0 16362 Peter J Taylor President & Director, ECMC Foundation 373218 0 80000 0 285006 0 118011 0 8924 0 865159 0 254247 0 Roberta Cooper Ramo Former Director not paid by Foundation 0 75274 0 0 0 0 0 0 0 0 0 75274 0 0 I King Jordan Former Director not paid by Foundation 0 30274 0 0 0 0 0 0 0 0 0 30274 0 0 John F DePodesta Board Chair not paid by Foundation 0 180274 0 0 0 0 0 0 0 0 0 180274 0 0 James V McKeon Director not paid by Foundation 0 167774 0 0 0 0 0 0 0 0 0 167774 0 0 Jeremy J Wheaton President & CEO, ECMC Group, Inc. 0 542487 0 506688 0 21404 0 78501 0 31373 0 1180453 0 19000 Gregory A Van Guilder Former CFO not paid by Foundation, current CIO, ECMC Group, Inc. 0 635036 0 350000 0 23151 0 76050 0 16218 0 1100455 0 19000 Daniel S Fisher General Counsel/Corp Secretary not paid by Foundation 0 331229 0 265000 0 21602 0 53377 0 34969 0 706177 0 16850 Martin A Scanlon CFO & Treasurer not paid by Foundation 0 357958 0 200000 0 21023 0 49600 0 30853 0 659434 0 9076 Sarah Belnick Sr Dir, Program Management 129310 0 0 0 301 0 15699 0 9884 0 155194 0 0 0 Jennifer E Zeisler Sr Dir, Program Management 152763 0 0 0 6292 0 18510 0 10078 0 187643 0 0 0 Jessica E Haselton Dir, Program-Related Investments 133695 0 0 0 862 0 13767 0 27358 0 175682 0 0 0 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 3 Arrangement used to establish the top management official's compensation As noted in Part VII of Form 990 and Schedule J, Part II, the only Executive Officer compensated by ECMC Foundation was the President, Peter J. Taylor. All other Executive Officers' compensation was paid by related organizations. Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan ECMC - ECMC Group, Inc. maintains a supplemental nonqualified retirement plan described in section 457(f), and a Supplemental Employee Retirement Plan (SERP), to attract and retain employees, typically in management positions. In 2019, Jeremy J. Wheaton, Gregory A. Van Guilder and Daniel S. Fisher participated in the 457(f) plan, and received employer contributions of $27,101, $22,950 and $277, respectively, and Peter J. Taylor participated in the SERP plan, and received an employer contribution of $72,411. Schedule J, Part I, Line 5b Compensation contingent on revenues of a related organization As noted in Part VII of Form 990 and Schedule J, Part II, the only executive officer compensated by ECMC Foundation was the President, Peter J. Taylor. All other executive officers' compensation was paid by related organizations. 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 As noted in Part VII of Form 990 and Schedule J, Part II, the only executive officer compensated by ECMC Foundation was the President, Peter J. Taylor. All other executive officers' compensation was paid by related organizations. ECMC Group, Inc.'s annual officer incentive plan requires achievement of stated performance metrics, which includes net earnings before any payment to any officer is made. Form 990, Part III, Line 4d Description of other program services (Expenses $ 4,527,699 including grants of $ 2,634,189)(Revenue $ 500,000) Other programs. Miscellaneous programs and activities for the furtherance of educational opportunities through grants, awards and research on the management of educational debt. Form 990, Part III, Line 4d Description of other program services (Expenses $ 1,000,000 including grants of $ 1,000,000)(Revenue $ 0) GO! Program. ECMC Foundation awards grants to the Generating Outcomes (GO!) Program, a corporate initiative to fund education innovation by funding ideas and partnerships that can be examined for effectiveness in the local communities of the ECMC Group, Inc. employees. To qualify for payment of a GO! Program grant, the awarded recipient must be a third-party nonprofit entity or a governmental partner, such as public schools, and expend the grant award for the purpose designated in the recipient's grant proposal. In 2019, ECMC Foundation awarded 76 grants ranging from $5,000 to $25,000 to recipients under the GO! Program. Form 990, Part III, Line 4d Description of other program services (Expenses $ 0 including grants of $ 0)(Revenue $ 0) Teacher and Leader Development. In December 2017, ECMC Foundation made the decision to close out the Teacher and Leader Development program. This program was created to invest in teacher and leader development focused on complex intellectual student work and initiatives that build the diversity pipelines into the teaching and school leader professions. Grants previously awarded by ECMC Foundation under the Teacher and Leader development program will continue to be issued through January 2020. Starting 2018, ECMC Foundation directed funding into their three remaining focus areas; College Success, Career Readiness and Education Innovation Ventures. 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 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 that states there can be no retaliation against anyone acting in good faith when asking a question, reporting a concern or for participating in an investigation. ECMC Group, Inc. has established an anonymous telephone hotline and website administered by an outside vendor to report concerns. The hotline and website are available and accessible to ECMC Foundation directors, officers, employees and vendors. Form 990, Part VI, Line 6 Classes of members or stockholders ECMC Foundation has one member. The member is ECMC Group, Inc. a Delaware, non-stock, nonprofit corporation exempt under section 501(c)(3). There are no stockholders. Form 990, Part VI, Line 7a Members or stockholders electing members of governing body ECMC Group, Inc. has the right to elect and/or approve all the directors of the ECMC Foundation Board of Directors. Form 990, Part VI, Line 7b Decisions requiring approval by members or stockholders ECMC Group, Inc., the sole member of ECMC Foundation, retains the following authority over ECMC Foundation: 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. Form 990, Part VI, 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, 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 Conflict of Interest Policy. The affirmation specifically references that the individual will comply with the directives of the Conflict of Interest Policy. Officers, Directors and key employees are also required to complete an annual Form 990 relationship disclosure document to identify any potential conflicts of interest. Finally, the company's vendor procurement process includes questions of business unit contract owners to determine if any conflicts of interest may exist. Monitoring and enforcement of the policy are accomplished through the policy reaffirmation process, affirmative disclosure requests and the policy requirement that all conflicts of interest be reported. In cases where a potential conflict exists at the officer and key employee levels, the issue is disclosed to the ECMC Group, Inc. CEO, General Counsel and/or Vice President, Deputy General Counsel. For potential or real conflicts involving Directors or officers, the disclosure is made to the Board Chair. The Director or officer will be required to excuse themselves from deliberation and voting on matters where they may have a conflict of interest. Form 990, Part VI, Line 15a Process to establish compensation of top management official As noted in Part VII of Form 990 and Schedule J, Part II, the only executive officer compensated by ECMC Foundation was the President, Peter J. Taylor. All other executive officers' compensation was paid by related organizations. The Governance & Compensation Committee of the ECMC Group, Inc. Board of Directors is wholly comprised of independent, outside directors. In 2019, 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 an 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 only nonprofit entities. Form 990, Part VI, Line 15b Process to establish compensation of other employees As noted in Part VII of Form 990 and Schedule J, Part II, the only executive officer compensated by ECMC Foundation was the President, Peter J. Taylor. All other executive officers' compensation was paid by related organizations. The Governance & Compensation Committee of the ECMC Group, Inc. Board of Directors is wholly comprised of independent, outside directors. In 2019, 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 an 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 only nonprofit entities. Form 990, Part VI, Line 19 Required documents available to the public The Form 990 is made available to the public on ECMC Foundation's website. No other documents are made available to the public. Form 990, Part VII, Section A Directors' Compensation ECMC Foundation Directors do not receive compensation for their service associated with ECMC Foundation, but do receive compensation for their service provided to related organizations---ECMC and ECMC Group, Inc. With the exception of the President, Peter J. Taylor, the executive officers of ECMC Foundation do not receive compensation for their service associated with ECMC Foundation, but do receive compensation for their service provided to related organizations---ECMC and ECMC Group, Inc. Roberta Cooper Ramo and I. King Jordan, former Directors, had consulting agreements in 2019. Form 990, Part X, Line 12 Investments-Other Securities Investments-other securities of $691,875,570 are held in the ECMC Group, Inc. Apportioned Investment Pool. Investments in ECMC Group, Inc. Apportioned Investment Pool represent an ownership interest in the investment pool managed by ECMC Group, Inc., not in the underlying assets themselves. The ownership interests in this pool are not themselves publicly traded, nor can they be valued based on direct or indirect inputs as defined by Financial Accounting Standards Board Accounting Standards Codification Topic 820. ECMC Foundation's investments consist of pooled funds invested with ECMC Group, Inc. that are generally redeemable upon request. The pooled investment is, under fair value hierarchy, a Level 2 investment. The investment strategy of ECMC Foundation is to diversify risk and provide a return that satisfies the short- and long-term objectives. The Apportioned Investment Pool has unfunded commitments of approximately $350,660,000 and $25,448,000 in alternative investments and in impact investments, respectively. ECMC Foundation has no unfunded commitments to the Apportioned Investment Pool at December 31, 2019. Form 990, Part XI, Line 5 Net unrealized loss on investments Net unrealized loss on investment in the ECMC Group, Inc. Apportioned Investment Pool are $21,194,017. Educational Credit Management Corporation 111 Washington Ave So Ste 1400 Minneapolis MN 55401 411778617 Guarantor MN 501(c)(3) 10 ECMC Group Inc false ECMC Group Inc 111 Washington Ave So Ste 1400 Minneapolis MN 55401 411991995 Education Finance DE 501(c)(3) Type II NA false ECMC Education Inc (formerly Zenith Education Group Inc) 111 Washington Ave So Ste 1400 Minneapolis MN 55401 472237488 Career Colleges DE 501(c)(3) 2 ECMC Group Inc false ECMC Revenue Management Corporation 111 Washington Ave So Ste 1400 Minneapolis MN 55401 831761663 Student Loan Default Resolution DE 501(c)(3) 10 Educational Credit Management Corporation false ECMC Services Inc 111 Washington Ave So Ste 1400 Minneapolis MN 55401 831763915 Student Loan Repayment Services DE 501(c)(3) 10 Educational Credit Management Corporation false OAKDALE INVESTMENT MANAGEMENT CORPORATION 111 Washington Ave So Ste 1400 Minneapolis MN 55401 352085743 HOLDING INVESTMENTS DE ECMC GROUP INC C Corporation false ECMC HOLDINGS CORPORATION 111 Washington Ave So Ste 1400 Minneapolis MN 55401 411991992 STRATEGIC OVERSIGHT DE ECMC GROUP INC C Corporation false EDUCATIONAL CREDIT SERVICES CO 111 Washington Ave So Ste 1400 Minneapolis MN 55401 411992001 PRIVATE LOANS DE NA C Corporation false ECMC RECORDS & REC MGMT CORPORATION 111 Washington Ave So Ste 1400 Minneapolis MN 55401 411989959 DOCUMENT MANAGEMENT DE NA C Corporation false ECMC MANAGEMENT SERVICES CORPORATION 111 Washington Ave So Ste 1400 Minneapolis MN 55401 411989960 MANAGEMENT SERVICES DE NA C Corporation false ECMC TECHNOLOGY SERVICES CORPORATION 111 Washington Ave So Ste 1400 Minneapolis MN 55401 411989958 TECHNOLOGY SERVICES DE NA C Corporation false ECMC Servicing Corporation 10370 Peter A McCuen Blvd Mather CA 95655 471154366 Loan Servicing DE NA C Corporation false false true false false false false false false false false false false false true true true false false false Schedule R, Part V, Line 1n Sharing of Facilities, Equipment, or Other Assets with Related Org(s) $605,652 Allocated Expenses for Facilities, Equipment, Mailing Lists or Other Assets Shared with ECMC Group, Inc. Schedule R, Part V, Line 1p Reimbursement Paid to Related Organization(s) for Expenses $386,275 Reimbursement Paid to ECMC Group, Inc. for Expenses. Schedule R, Part I Disregarded Entities of Related Organizations 1(a)-Name. Oakdale Student Loan Funding, LLC (27-1914648), 111 Washington Ave So, Ste 1400, Minneapolis, MN 55401. 1(b)-Primary activity. Holding FFELP Loans. 1(c)-Legal domicile. DE. 1(f)-Direct controlling entity. ECMC Group, Inc. 2(a)-Name. ECMC Shared Services Company, LLC (81-0690960), 111 Washington Ave So, Ste 1400, Minneapolis, MN 55401. 2(b)-Primary activity. Support Services Functions. 2(c)-Legal domicile. DE. 2(f)-Direct controlling entity. ECMC Group, Inc. 3(a)-Name. Patriot Student Loan Capital, LLC (81-3501777), 111 Washington Ave So, Ste 1400, Minneapolis, MN 55401. 3(b)-Primary activity. Trust Student Loans. 3(c)-Legal domicile. DE. 3(f)-Direct controlling entity. ECMC Group, Inc. Schedule R, Part V, Line 1b Gift, grant, or capital contribution to related organization(s) $5,000,000 grants awarded by ECMC Foundation to ECMC Education, Inc. (formerly Zenith Education Group, Inc.) for career readiness initiatives and programs, which further its mission to help students succeed in their pursuit of an educational experience that prepares them for the workforce. Schedule R, Part V, Line 1o Sharing of Paid Employees with Related Organization(s) $320,334 Allocated Expenses for Paid Employees Shared with ECMC Shared Services Company, LLC, a Wholly Owned Subsidiary of ECMC Group, Inc., a Related Organization. Schedule R, Part V, Line 1b Gift, grant, or capital contribution to related organization(s) $50,000 grant awarded by ECMC Foundation to ECMC Group, Inc. for enterprise innovation, research and strategic development, which further its mission by providing services that help students recognize and realize their potential by investing in, creating and providing innovative education solutions that support schools and improve student educational outcomes. Schedule R, Part V, Line 1b Gift, grant, or capital contribution to related organization(s) $2,256,993 grants awarded by ECMC Foundation to Educational Credit Management Corporation for Outreach and College Success initiatives. Schedule R, Part V, Line 1o Sharing of Paid Employees with Related Organization(s) $162,899 Allocated Expenses for Paid Employees Shared with ECMC Group, Inc.