2019-11-08T15:30:15-06:00 2018-12-31 390859910 Baker Tilly Virchow Krause LLP 225 South 6th Street Suite 2300 Minneapolis MN 55402 990 2018-01-01 411991995 ECMC Group Inc ECMC 6512210566 111 Washington Ave So 1400 Minneapolis MN 55401 Martin A Scanlon CFO & Treasurer 2019-11-08 true Lawrence H Mohr CPA P00447603 6128764500 2018 2020-04-17 16:48:07Z Jeremy J Wheaton 111 Washington Ave So 1400 Minneapolis MN 55401 1089159400 false X www.ecmcgroup.org X 2000 DE ECMC Group, Inc. supports Educational Credit Management Corporation and Zenith Education Group, Inc. ECMC Group, Inc. supports the furtherance of the exempt purpose of Educational Credit Management Corporation and Zenith Education Group, Inc. 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. 9 8 417 0 3484544 7316 308000000 231500000 56812038 96720581 40663426 57005273 3001912 4125572 408477376 389351426 145399500 134515699 0 19595645 19596348 0 0 54538733 101206433 219533878 255318480 188943498 134032946 2970759498 3231152033 2373065342 2549969674 597694156 681182359 X The mission of ECMC Group, Inc. is to help students recognize and realize their potential by investing in, creating and providing innovative education solutions that support schools and improve student educational outcomes. false false 134000000 134000000 0 ECMC Group, Inc. supports the furtherance of the exempt purpose of Educational Credit Management Corporation, Zenith Education Group, Inc., and ECMC Foundation 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. $134,000,000 contributions made to Zenith Education Group, Inc. to support its mission to help students succeed in their pursuit of an educational experience that prepares them for the workforce. 59442668 0 96720581 Loan Portfolio Servicing: ECMC Group, Inc. and Oakdale Student Loan Funding, LLC (Oakdale), a wholly owned subsidiary of ECMC Group, Inc., have eligible lender trust (ELT) agreements with Manufacturers and Traders Trust Company. Manufacturers and Traders Trust Company serves as the ELT for ECMC Group, Inc. and Oakdale. Through the ELTs, ECMC Group, Inc. and Oakdale purchase Federal Family Education Loan Program (FFELP) rehabilitated student loans from Educational Credit Management Corporation, a related entity, and other guaranty agencies in order to ensure that student loan borrowers can realize the full benefits afforded them under 34 CFR sec. 682.405. Patriot Student Loan Capital, LLC (Patriot) has interim eligible lender trust agreements with Manufacturers and Traders Trust Company. ECMC Group Student Loan Trust 2016-1 (Trust 2016-1), ECMC Group Student Loan Trust 2017-1 (Trust 2017-1), ECMC Group Student Loan Trust 2017-2 (Trust 2017-2), ECMC Group Student Loan Trust 2018-1 (Trust 2018-1) and ECMC Group Student Loan Trust 2018-2 (Trust 2018-2), collectively (the Trusts), have eligible lender trust agreements with Manufacturers and Traders Trust Company. Manufacturers and Traders Trust Company serves as the interim eligible lender trust (interim ELT) for Patriot and as eligible lender trust (ELT) for Trust 2016-1, Trust 2017-1, Trust 2017-2, Trust 2018-1 and Trust 2018-2. Through the interim ELT, Patriot purchases FFELP rehabilitated student loans from ECMC Group, Inc. and Oakdale and resells the loans through the ELT to the Trusts. The Trusts issued Class A notes secured by the respective student loan portfolios. Trust 2018-1 also issued Class B notes to ECMC Group, Inc. The Trust 2018-1 Class B notes are subordinated to the Trust 2018-1 Class A notes. 515699 515699 0 Grants and sponsorships supplied by ECMC Group, Inc. to schools and individuals in support of its tax-exempt purpose. 243947 0 0 Through the Public Policy Program, ECMC Group, Inc. shares information among ECMC Group-related members on legislative proposals and governmental regulations that impact their operations. The program enables ECMC Group, Inc. affiliates to monitor public policy matters and provide nonpartisan analysis and research to policymakers, thought leaders and the general public. 243947 194202314 true true false false false false false false false true true true false true true false true false false true false false false false false false true true true false false false false false false false true false false false false true true true true false false true 84 0 417 true true true false false false false false true false false false false X 9 8 false false false false true true false true true false false true true true true true true true true false MN X Martin A Scanlon 6512210566 111 Washington Ave So Ste 1400 Minneapolis MN 55401 Jeremy J Wheaton President & CEO 40.0 0.0 X X 746904 0 89228 John F DePodesta Board Chair 13.0 4.0 X 0 180500 0 Julia Gouw Director 3.0 4.0 X 0 128000 0 Diana J Ingram Director 5.0 4.0 X 0 122500 0 I King Jordan Director 3.0 4.0 X 0 117500 0 James V McKeon Director 8.0 4.0 X 0 155000 0 Jack O'Connell Director 4.0 4.0 X 0 122500 0 Maurice M Salter Director 8.0 4.0 X 0 140000 0 K Paul Singh Director 7.0 4.0 X 0 124000 0 Daniel S Fisher General Counsel/Corp Secretary 40.0 0.0 X 558196 0 79105 Martin A Scanlon CFO & Treasurer 40.0 0.0 X 623772 0 69806 Gregory A Van Guilder Chief Investment Officer 40.0 0.0 X 898580 0 92322 Wendy Badger VP, Corporate Compliance Officer 40.0 0 X 274085 0 51163 Brian Boardman VP, Deputy General Counsel 40.0 0 X 284516 0 66064 Michael Bogie VP, Solutions Delivery 40.0 0 X 279503 0 57670 Iris Cumberbatch VP, Corporate Affairs 40.0 0 X 313302 0 49712 Andrew Fesler VP, Total Rewards & Human Resources Operations 40.0 0 X 411844 0 26962 David Goff Chief Information Officer (until 07-15-18) 40.0 0 X 787289 0 39662 Stephen H Hansen VP, Information Technology 40.0 0.0 X 297787 0 35105 Heidi J Johnson VP, Chief of Staff, ECMC Group 40.0 0.0 X 370693 0 66508 Kathleen M King VP, Finance & Controller (until 03-17-18) 40.0 0.0 X 311661 0 24965 John McKennell VP, Chief Information Security Officer 40.0 0 X 262714 0 59900 Hugh E McSherry VP, Corporate Services 40.0 0.0 X 278184 0 51397 Matthew T Mikulski VP, Internal Audit 40.0 0.0 X 292737 0 67201 Frederick Peguero VP, Information Technology 40.0 0 X 324071 0 62981 Josh Slayton SVP, Business Development, Research & Innovation 40.0 0 X 281978 0 29380 Sarah Strehl Chief Human Resources Officer 40.0 0 X 496568 0 78735 Joshua Susser VP, Corporate Development & Strategic Planning 40.0 0.0 X 299886 0 31638 Tiffany Thompson VP, Finance & Controller (effective 03-18-18) 40.0 0 X 221895 0 30555 Adam Trampe VP, Enterprise Risk and Educational Compliance 40.0 0 X 260500 0 57459 Robert Hedrick Dir, Information Technology 40.0 0 X 205906 0 52231 Meenesh Patel Dir, Information Technology 40.0 0 X 219699 0 53796 Robert Patton Enterprise Application Architecture Director 40.0 0 X 219752 0 51582 Kelley Pufpaff Dir, Human Resources Operations 40.0 0 X 287787 0 27748 Arnold Singer Sr Dir, Information Technology 40.0 0 X 224950 0 37303 James G Gilbertson ECMCSS SVP, Finance & Zenith CFO (until 11-08-17) 40.0 0.0 X 361131 0 1325 Robert Kenyon SVP & Chief Accounting Officer 0.0 0.0 X 110625 0 0 Janice A Hines President & CEO, ECMC 0.0 40.0 X 0 706476 80201 Heather M Renner Government Affairs Director 40.0 0.0 X 231838 0 12110 Roberta Cooper Ramo Former Director 0.0 0.0 X 0 75000 0 Robert A Stein Former Director 0.0 0.0 X 0 60000 0 Peter J Taylor Former Director, Current President & Director, ECMC Foundation 0.0 40.0 X 0 560681 120889 Richard J Boyle Former Director/CEO/President 0.0 0.0 X 0 16075 0 10738353 2508232 1654703 144 true true false NAVIENT SOLUTIONS INC 220 Lasley Ave Hanover Industrial Estates Wilkes Barre PA 18706 Loan Portfolio Servicing 3732889 EMC Corporation PO Box 790448 St Louis MO 63179 IT Professional Services 3725981 CAMPUS MANAGEMENT CORP 5201 CONGRESS AVE BOCA RATON FL 33487 IT Professional Services 2197494 CDW PO Box 75723 Chicago IL 60675 IT Support Services 1987404 Century Link PO Box 1319 Charlotte NC 28201 Telecom Services 1283644 65 231500000 231500000 Student Loan Portfolio 900099 96720581 96720581 0 0 0 0 96720581 17036450 -602924 17639374 0 0 739759175 17622 699790352 17622 39968823 0 39968823 39968823 Servicing Fees on Trust Student Loans 900099 4087468 4087468 Miscellaneous 900099 32934 32934 Intercompany Servicing Revenue 900099 5170 5170 0 0 0 0 4125572 389351426 96720581 3484544 57646301 134366199 134366199 149500 149500 3157911 3157911 13134423 481837 12652586 1042210 18820 1023390 1447188 5304 1441884 814616 22111 792505 1278422 678772 599650 393944 393944 363308 363308 13808475 3953700 9854775 0 1097158 3697 1093461 4274332 9625 4264707 836847 836847 374252 374252 88306 88306 57179080 54066602 3112478 1332106 1332106 137952 137952 Unrelated Business Income Tax 71250 71250 Loss on Subsidiaries 15830720 15830720 Principal Loan Adjustment 4032801 14329 4018472 107480 -2740 110220 0 255318480 194202314 61116166 0 28824321 43842850 144299580 133059099 644572 451016 0 0 0 44000000 45800000 7546059 6406684 39089071 19745335 24094113 19343736 247733761 205753523 790234677 918242307 1659539617 1847429373 140102 23702696 10823445 2970759498 3231152033 16059755 14780008 1235404 1317054 0 519670534 96262964 1836099649 2437609648 2373065342 2549969674 X 597694156 681182359 597694156 681182359 2970759498 3231152033 134032946 -50544743 0 X false true X true false X X 2 EDUCATIONAL CREDIT MGMT CORP 411778617 9 true 234947 0 Zenith Education Group Inc 472237488 2 true 134174098 0 2 134409045 0 true false false false false false false false false false false false false false false true Schedule A, Part I, Line 12b An Organization Organized to Perform and Provide ECMC Group, Inc., the supporting organization, retains the following authority over Educational Credit Management Corporation and Zenith Education Group, Inc., the supported organizations, and, therefore, has control over Educational Credit Management Corporation and Zenith Education Group, Inc.: 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. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 14647912 3026317 11621595 288947 166654 122293 24152212 16552364 7599848 19343736 ECMC Holdings Corporation stock Investment in ECMC Holdings Corporation 17626472 F Investment in Oakdale Investment Management Corporation 2496558 F Alternative Investments 876625073 F Investment in ECMC Group Student Loan Trust 2018-1 Class B Notes 15023443 C Investment in Performant Financial Corporation 6470761 F 918242307 Student Loan Receivable-Held for Sale 39403239 F Student Loan Receivable-Pledged 1781809627 C Mission-Related Investments 23114640 C Direct Investments 3101867 C 1847429373 Due to ECMC Holdings Corporation Foundation deposits in Group Investment Pool 713069586 Due to Educational Credit Management Corporation 14 Due to Educational Credit Services Company Payable for unsettled investments 2275044 Secured Borrowings of ECMC Group Student Loan Trust 2016-1 245814026 Secured Borrowings of ECMC Group Student Loan Trust 2017-1 309318557 Secured Borrowings of ECMC Group Student Loan Trust 2017-2 386554860 Secured Borrowings of ECMC Group Student Loan Trust 2018-1 437380265 Secured Borrowings of ECMC Group Student Loan Trust 2018-2 329796836 Deferred Financing Fees -6554315 Amount payable to the Department of Education 707427 Subordinated Borrowings of ECMC Group Student Loan Trust 2018-1 15023443 Operating Lease 3143758 Deferred Grant Revenue from ECMC Foundation 1080147 2437609648 X Schedule D, Part X, Line 1 Secured Borrowings of ECMC Group Student Loan Trust 2016-1 $245,814,026 Floating Rate Class A Notes secured borrowing of ECMC Group Student Loan Trust 2016-1. ECMC Group Student Loan Trust 2016-1, a Delaware statutory trust, purchases student loans and accrued interest from Patriot Student Loan Capital, LLC and securitizes the assets with an issuance of debt. The securitization uses a two-step structure that legally isolates the transferred assets. These transactions are accounted for as an on-balance sheet secured borrowing. Patriot Student Loan Capital, LLC, a disregarded entity of ECMC Group, Inc., holds the primary beneficial interest in the trust. ECMC Group, Inc. is the primary beneficiary of the securitization trust and is required to consolidate the trust. Schedule D, Part X, Line 1 Secured Borrowings of ECMC Group Student Loan Trust 2017-1 $309,318,557 Floating Rate Class A Notes secured borrowing of ECMC Group Student Loan Trust 2017-1. ECMC Group Student Loan Trust 2017-1, a Delaware statutory trust, purchases student loans and accrued interest from Patriot Student Loan Capital, LLC and securitizes the assets with an issuance of debt. The securitization uses a two-step structure that legally isolates the transferred assets. These transactions are accounted for as an on-balance sheet secured borrowing. Patriot Student Loan Capital, LLC, a disregarded entity of ECMC Group, Inc., holds the primary beneficial interest in the trust. ECMC Group, Inc. is the primary beneficiary of the securitization trust and is required to consolidate the trust. Schedule D, Part X, Line 1 Secured Borrowings of ECMC Group Student Loan Trust 2017-2 $386,554,860 Floating Rate Class A Notes secured borrowing of ECMC Group Student Loan Trust 2017-2. ECMC Group Student Loan Trust 2017-2, a Delaware statutory trust, purchases student loans and accrued interest from Patriot Student Loan Capital, LLC and securitizes the assets with an issuance of debt. The securitization uses a two-step structure that legally isolates the transferred assets. These transactions are accounted for as an on-balance sheet secured borrowing. Patriot Student Loan Capital, LLC, a disregarded entity of ECMC Group, Inc., holds the primary beneficial interest in the trust. ECMC Group, Inc. is the primary beneficiary of the securitization trust and is required to consolidate the trust. Schedule D, Part X, Line 1 Secured Borrowings of ECMC Group Student Loan Trust 2018-1 $437,380,265 Floating Rate Class A Notes secured borrowing of ECMC Group Student Loan Trust 2018-1. ECMC Group Student Loan Trust 2018-1, a Delaware statutory trust, purchases student loans and accrued interest from Patriot Student Loan Capital, LLC and securitizes the assets with an issuance of debt. The securitization uses a two-step structure that legally isolates the transferred assets. These transactions are accounted for as an on-balance sheet secured borrowing. Patriot Student Loan Capital, LLC, a disregarded entity of ECMC Group, Inc., holds the primary beneficial interest in the trust. ECMC Group, Inc. is the primary beneficiary of the securitization trust and is required to consolidate the trust. Schedule D, Part X, Line 1 Secured Borrowings of ECMC Group Student Loan Trust 2018-2 $329,796,836 Floating Rate Class A Notes secured borrowing of ECMC Group Student Loan Trust 2018-2. ECMC Group Student Loan Trust 2018-2, a Delaware statutory trust, purchases student loans and accrued interest from Patriot Student Loan Capital, LLC and securitizes the assets with an issuance of debt. The securitization uses a two-step structure that legally isolates the transferred assets. These transactions are accounted for as an on-balance sheet secured borrowing. Patriot Student Loan Capital, LLC, a disregarded entity of ECMC Group, Inc., holds the primary beneficial interest in the trust. ECMC Group, Inc. is the primary beneficiary of the securitization trust and is required to consolidate the trust. Schedule D, Part X, Line 1 Subordinated Borrowings of ECMC Group Student Loan Trust 2018-1 $15,023,443 Floating rate Class B Notes, subordinated to the Secured Borrowings of ECMC Group Student Loan Trust 2018-1. The Class B Notes were transferred to ECMC Group, Inc. at the time of the closing. Schedule D, Part VII Investment in Performant Financial Corporation At December 31, 2018, ECMC Group, Inc. held a 9.0% beneficial ownership interest in the publicly-traded stock of Performant Financial Corporation (PFMT). ECMC Group, Inc. was the record owner of 1,000,000 shares of PFMT common stock and warrants to purchase an aggregate of 4,172,392 shares of PFMT common stock that were currently exercisable or exercisable within 60 days. Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote The FIN 48 (ASC 470) disclosure in the ECMC Group, Inc. and Subsidiaries Consolidated Financial Statements reads as follows: "ECMC Group, ECMC, Zenith, and ECMC Foundation are nonprofit 501(c)(3) corporations and are exempt from federal and state income taxes. Holdings and its subsidiaries are taxable entities and account for deferred tax assets and liabilities under the liability method. Deferred tax liabilities are recognized for temporary differences that will result in taxable amounts in future years. Deferred tax assets are recognized for deductible temporary differences and tax operating loss and tax credit carry forwards. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. With few exceptions, Holdings and its subsidiaries are no longer subject to U.S. federal, state or local income tax examinations by tax authorities for the years before 2014. In the event of any current or future tax assessments, Holdings and its subsidiaries has elected to record the income taxes and any related interest and penalties as income tax expense on Group's consolidated statements of activities." Central America and the Caribbean Investments 394124382 0 0 0 0 0 0 394124382 0 394124382 true false false true true false Schedule F, Part I, Line 3(f) Investments Investments are recorded on the trade date and are carried at fair value or lower of cost or market depending on investment type. Unrealized gains and losses and realized gains and losses, which are determined on the basis of the cost of the specific investments sold, are included in the change in net assets. Dividend income is recorded on the ex-dividend date. Interest income is accrued daily. Alternative Investments - Alternative investments are various hedge funds set up as limited partnerships chosen to support the investment objectives of ECMC Group, Inc. as outlined in the Investment Policy Statement of ECMC Group, Inc. Net asset valuations are provided quarterly by the limited partnerships. ECMC Group, Inc. uses September 30 as the cut-off date for booking investment income and unrealized gain/loss based on statements provided by each fund manager. During the period from September 30 to December 31, capital calls and redemptions are booked to reflect cash movements occurring during the last quarter of the year. Management reviews and evaluates macro market factors affecting the investment portfolio's unrealized gain/loss during the last quarter of the year. Management's recommendations are presented to the investment committee for its approval and consideration of the investment fair value. The estimated fair values may differ significantly from the values that could be realized if a ready market existed for these investments, and these differences could be material. true Zenith Education Group Inc 111 Washington Ave Ste 1400 Minneapolis MN 55401 472237488 501(C)(3) 134000000 General Support Coro Southern California 1000 N Alameda St Ste 240 Los Angeles CA 90012 954274561 501(C)(3) 100000 Program Support BestPrep 7100 Northland Circle N Ste 402 Brooklyn Park MN 55428 411265355 501(C)(3) 25000 Program Support Junior Achievement of the Upper Midwest Inc 1800 White Bear Ave N Maplewood MN 55109 411424988 501(C)(3) 50585 8749 Book Signage Program Support CRHS Sacramento Work Study Inc 8475 Jackson Rd Sacramento CA 95826 412191660 501(C)(3) 20984 Work Study Program Sponsorship Cristo Rey Corporate Internship 2924 Fourth Ave So Minneapolis MN 55408 204548714 501(C)(3) 75647 Work Study Program Sponsorship Junior Achievement of Sacramento Inc PO Box 255602 Sacramento CA 95865 946080866 501(C)(3) 25000 Community Outreach Grant 7 0 Robert A. Stein Scholarship 44 149500 Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. ECMC Group, Inc. is the sole member of ECMC Foundation and Zenith Education Group, Inc. and closely monitors the use of the cash grant through reports to management and the Board of Directors on a regular basis. The Robert A. Stein Scholarships listed in Part III are issued as jointly payable to the student and the school to ensure the funds are used for educational expenses. The Individual Scholarships were awarded to further the individuals' education. X true true X X X X true true false false true false true false false Richard J Boyle Former Director/CEO/President 0 0 0 0 0 16075 0 0 0 0 0 16075 0 16075 Jeremy J Wheaton President & CEO 543354 0 200833 0 2717 0 59800 0 29428 0 836132 0 208 0 Roberta Cooper Ramo Former Director 0 75000 0 0 0 0 0 0 0 0 0 75000 0 0 Robert A Stein Former Director 0 60000 0 0 0 0 0 0 0 0 0 60000 0 0 Peter J Taylor Former Director, Current President & Director, ECMC Foundation 0 390609 0 80000 0 90072 0 112238 0 8651 0 681570 0 76984 John F DePodesta Board Chair 0 180500 0 0 0 0 0 0 0 0 0 180500 0 0 James V McKeon Director 0 155000 0 0 0 0 0 0 0 0 0 155000 0 0 Janice A Hines President & CEO, ECMC 0 403564 0 270000 0 32912 0 57289 0 22912 0 786677 0 23356 Heather M Renner Government Affairs Director 60683 0 12970 0 158185 0 5557 0 6553 0 243948 0 0 0 Daniel S Fisher General Counsel/Corp Secretary 306273 0 230949 0 20974 0 48099 0 31006 0 637301 0 7413 0 Martin A Scanlon CFO & Treasurer 323571 0 87500 0 212701 0 40326 0 29480 0 693578 0 0 0 Gregory A Van Guilder Chief Investment Officer 372132 0 506000 0 20448 0 69447 0 22875 0 990902 0 18000 0 James G Gilbertson ECMCSS SVP, Finance & Zenith CFO (until 11-08-17) 9879 0 56200 0 295052 0 624 0 701 0 362456 0 0 0 Robert Kenyon SVP & Chief Accounting Officer 0 0 0 0 110625 0 0 0 0 0 110625 0 0 0 Wendy Badger VP, Corporate Compliance Officer 202768 0 70303 0 1014 0 31328 0 19835 0 325248 0 0 0 Brian Boardman VP, Deputy General Counsel 209592 0 73558 0 1366 0 32359 0 33705 0 350580 0 0 0 Michael Bogie VP, Solutions Delivery 205505 0 71806 0 2192 0 29413 0 28257 0 337173 0 0 0 Iris Cumberbatch VP, Corporate Affairs 159389 0 94500 0 59413 0 33074 0 16638 0 363014 0 0 0 Andrew Fesler VP, Total Rewards & Human Resources Operations 108911 0 87389 0 215544 0 12206 0 14756 0 438806 0 1848 0 David Goff Chief Information Officer (until 07-15-18) 257167 0 142176 0 387946 0 16500 0 23162 0 826951 0 0 0 Stephen H Hansen VP, Information Technology 209727 0 85817 0 2243 0 34249 0 856 0 332892 0 0 0 Heidi J Johnson VP, Chief of Staff, ECMC Group 229906 0 129150 0 11637 0 37259 0 29249 0 437201 0 1087 0 Kathleen M King VP, Finance & Controller (until 03-17-18) 109432 0 102911 0 99318 0 13877 0 11088 0 336626 0 0 0 John McKennell VP, Chief Information Security Officer 194784 0 66745 0 1185 0 32001 0 27899 0 322614 0 0 0 Hugh E McSherry VP, Corporate Services 200695 0 70576 0 6913 0 24387 0 27010 0 329581 0 0 0 Matthew T Mikulski VP, Internal Audit 193949 0 78231 0 20557 0 33194 0 34007 0 359938 0 0 0 Frederick Peguero VP, Information Technology 226925 0 92292 0 4854 0 33320 0 29661 0 387052 0 2127 0 Josh Slayton SVP, Business Development, Research & Innovation 132730 0 40000 0 109248 0 17846 0 11534 0 311358 0 0 0 Sarah Strehl Chief Human Resources Officer 306558 0 170625 0 19385 0 44488 0 34247 0 575303 0 0 0 Joshua Susser VP, Corporate Development & Strategic Planning 107908 0 72084 0 119894 0 12329 0 19309 0 331524 0 0 0 Tiffany Thompson VP, Finance & Controller (effective 03-18-18) 181513 0 39845 0 537 0 26891 0 3664 0 252450 0 0 0 Adam Trampe VP, Enterprise Risk and Educational Compliance 191149 0 66200 0 3151 0 30202 0 27257 0 317959 0 0 0 Robert Hedrick Dir, Information Technology 166954 0 37972 0 980 0 25120 0 27111 0 258137 0 0 0 Meenesh Patel Dir, Information Technology 174077 0 44836 0 786 0 26786 0 27010 0 273495 0 0 0 Robert Patton Enterprise Application Architecture Director 180613 0 38461 0 678 0 24572 0 27010 0 271334 0 0 0 Kelley Pufpaff Dir, Human Resources Operations 93652 0 45528 0 148607 0 9778 0 17970 0 315535 0 0 0 Arnold Singer Sr Dir, Information Technology 171664 0 48003 0 5283 0 26655 0 10648 0 262253 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 4a Severance or change-of-control payment The following received a severance payment in 2018: Dave Goff - $325,000 James G. Gilbertson - $273,729 Andrew Fesler - $208,816 Heather M. Renner - $132,838 Kelley Pufpaff - $123,903 Robert Kenyon - $110,625 Joshua Susser - $97,405 Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan 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 2018, Gregory A. Van Guilder, Sarah Strehl, David Goff and Janice A. Hines participated in the 457(f) plan, and received employer contributions of $2,400, $1,300, $189 and $5,400, respectively, and Peter J. Taylor participated in the SERP plan, and received an employer contribution of $54,800. Schedule J, Part I, Line 5b Compensation contingent on revenues of a related organization ECMC Group, Inc.'s annual officer incentive plan requires achievement of stated primary financial goals, which includes revenues, before any payment to any officer is made. Schedule J, Part I, Line 6b Compensation contingent on net earnings of a related organization ECMC Group, Inc.'s annual officer incentive plan requires achievement of stated key performance metrics, which includes net earnings, before any payment to any officer is made. Richard J Boyle Mr. Boyle is a Director and President of the contracted company. 40000 The consulting contract for advisory services began after Mr. Boyle retired from the organization on February 1, 2014. The proposed terms of the contract were reviewed by the Governance & Compensation Committee of the ECMC Group, Inc. Board of Directors, which is wholly comprised of independent, outside directors. The Committee reviewed the business terms, tasks, duration of the proposed agreement and comparability data. They also heard from compensation consultants and outside counsel. The Committee made a recommendation that was then approved by the full ECMC Group, Inc. Board of Directors. The contract ended in 2018. false Form 990, Part III, Line 4d Description of other program services (Expenses $ 243,947 including grants of $ 0)(Revenue $ 0) Through the Public Policy Program, ECMC Group, Inc. shares information among ECMC Group-related members on legislative proposals and governmental regulations that impact their operations. The program enables ECMC Group, Inc. affiliates to monitor public policy matters and provide nonpartisan analysis and research to policymakers, thought leaders and the general public. 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 repercussions for good faith reporting of potential illegal practices or violations of corporate policies. 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 Group, Inc. directors, officers, employees and vendors. Form 990, Part VI, Line 6 Classes of members or stockholders Each Director of the ECMC Group, Inc.'s Board of Directors is a member of ECMC Group, Inc. At year end 2018, there were nine members of the Board of Directors and, therefore, nine members of the corporation. Membership terminates upon the termination of such member's director status on the Board of Directors. There are no stockholders. Form 990, Part VI, Line 7a Members or stockholders electing members of governing body The members of ECMC Group, Inc. Board of Directors are nominated by the Governance & Compensation Committee of the Board and elected by the Board of Directors. The Governance & Compensation Committee consists of such independent members appointed to it by the ECMC Group, Inc. Board of Directors. Form 990, Part VI, Line 11b Review of form 990 by governing body All members of the Board of Directors and executive management of ECMC Group, Inc. and its disregarded entities 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 of ECMC Group, Inc. and ECMC Shared Services Company, LLC, a disregarded entity of ECMC Group, Inc., 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 are included in the Code of Ethics and Business Conduct. Monitoring and enforcement of the policy are 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 General Counsel and/or Board Chair. For potential or real conflicts involving the CEO or a member of the Board of Directors, the disclosure is made to the Board Chair. The Board member or CEO will be required to excuse themselves from deliberation and voting on matters which they may have a conflict of interest. Form 990, Part VI, Line 15a Process to establish compensation of top management official The following describes the Educational Credit Management Corporation (ECMC), Zenith Education Group, Inc. and ECMC Group, Inc., including ECMC Shared Services Company, LLC, executive compensation methodology. The Governance & Compensation Committee of the ECMC Group, Inc. Board of Directors is wholly comprised of independent, outside directors. In 2018, 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 both nonprofit and for-profit entities. Form 990, Part VI, Line 15b Process to establish compensation of other employees The following describes the Educational Credit Management Corporation (ECMC), Zenith Education Group, Inc. and ECMC Group, Inc., including ECMC Shared Services Company, LLC, executive compensation methodology. The Governance & Compensation Committee of the ECMC Group, Inc. Board of Directors is wholly comprised of independent, outside directors. In 2018, 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 both nonprofit and for-profit entities. Form 990, Part VI, Line 19 Required documents available to the public No documents are made available to the public. Form 990, Part VII, Section A Consulting Robert A. Stein and Roberta Cooper Ramo, former Directors, had consulting agreements in 2018. Form 990, Part XI, Line 5 Net unrealized loss on investments Net unrealized loss on investment in the ECMC Group, Inc. Investment Pool are $50,544,743. Oakdale Student Loan Funding LLC 111 Washington Ave So Ste 1400 Minneapolis MN 55401 271914648 Holding FFELP Loans DE 32909196 138349955 ECMC Group Inc Premiere Credit of North America LLC 2002 Wellesley Blvd 100 Indianapolis IN 46219 352085743 Accounts Receivable Management IN ECMC Holdings Corp ECMC Shared Services Company LLC 111 Washington Ave So Ste 1400 Minneapolis MN 55401 810690960 Support Services Functions DE 0 41071142 ECMC Group Inc Patriot Student Loan Capital LLC 111 Washington Ave So Ste 1400 Minneapolis MN 55401 813501777 Trust Student Loans DE 297489 98914215 ECMC Group Inc Healthcare Billing Administrators LLC 2002 Wellesley Blvd 100 Indianapolis IN 46219 814038009 Provider of Contingent Collections in the Healthcare Provider Market IN Premiere Credit of North America LLC Educational Credit Mgmt Corp 111 Washington Ave So Ste 1400 Minneapolis MN 55401 411778617 FFELP Guarantor MN 501(c)(3) 10 ECMC Group Inc true ECMC Foundation 111 Washington Ave So Ste 1400 Minneapolis MN 55401 411990628 Promote Education DE 501(c)(3) Type II ECMC Group Inc true Zenith Education Group Inc 111 Washington Ave So Ste 1400 Minneapolis MN 55401 472237488 Career Colleges DE 501(c)(3) 2 ECMC Group Inc true ECMC Revenue Management Corporation 111 Washington Ave So Ste 1400 Minneapolis MN 55401 831761663 Student Loan Default Resolution DE 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 461549752 HOLDING INVESTMENTS DE ECMC GROUP INC C Corporation 0 2501349 1 true ECMC HOLDINGS CORPORATION 111 Washington Ave So Ste 1400 Minneapolis MN 55401 411991992 STRATEGIC OVERSIGHT DE ECMC GROUP INC C Corporation 2459635 17680910 1 true EDUCATIONAL CREDIT SERVICES COMPANY 111 Washington Ave So Ste 1400 Minneapolis MN 55401 411992001 PRIVATE LOANS DE NA C Corporation true ECMC RECORDS & REC MGMT CORPORATION 111 Washington Ave So Ste 1400 Minneapolis MN 55401 411989959 DOCUMENT MANAGEMENT DE NA C Corporation true ECMC MANAGEMENT SERVICES CORPORATION 111 Washington Ave So Ste 1400 Minneapolis MN 55401 411989960 MANAGEMENT SERVICES DE NA C Corporation true ECMC TECHNOLOGY SERVICES CORPORATION 111 Washington Ave So Ste 1400 Minneapolis MN 55401 411989958 TECHNOLOGY SERVICES DE NA C Corporation true ECMC SERVICING CORPORATION 10370 PETER A MCCUEN BLVD MATHER CA 95655 471154366 LOAN SERVICING DE NA C Corporation true false true true true false false false false false false false false false true true true true false true Zenith Education Group Inc B 134000000 Allocation Educational Credit Management Corporation C 231500000 Allocation ECMC Foundation C 2597584 Deferred Grant Award Zenith Education Group Inc D 1500000 Letter of credit contingent liability Educational Credit Management Corporation N 7762838 Allocation Educational Credit Management Corporation O 38868991 Allocation Educational Credit Management Corporation P 1413689 Allocation ECMC Foundation N 480644 Allocation ECMC Foundation O 175606 Allocation ECMC Foundation Q 761706 Allocation Zenith Education Group Inc N 174098 Allocation Zenith Education Group Inc Q 12452014 Allocation ECMC Holdings Corporation O 99444 Allocation ECMC Holdings Corporation Q 268562 Allocation ECMC Holdings Corporation S 2420000 Cost