ECMC FOUNDATION: Form 990, tax year 2018

View the entire original 990 at ProPublica ↗

Organization
ECMC FOUNDATION (EIN 41-1990628)
Tax period
2018-01-01 to 2018-12-31
Filed
2019-11-08
IRS object ID
201943129349303129
Schema version
2018v3.1
Source
Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header ReturnHeader

FieldValueIRS element (for citing)
Return2019-11-08T16:00:20-06:00ReturnTs
Tax Period End2018-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN390859910PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1Baker Tilly Virchow Krause LLPBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1225 South 6th Street Suite 2300AddressLine1Txt
CityMinneapolisCityNm
State AbbreviationMNStateAbbreviationCd
ZIP55402ZIPCd
FieldValueIRS element (for citing)
Return Type990ReturnTypeCd
Tax Period Begin2018-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN411990628EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1ECMC FoundationBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlECMCBusinessNameControlTxt
Phone6512210566PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1111 Washington Ave So 1400AddressLine1Txt
CityMinneapolisCityNm
State AbbreviationMNStateAbbreviationCd
ZIP55401ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonMartin A ScanlonPersonNm
Person TitleCFO & TreasurerPersonTitleTxt
Signature2019-11-08SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonLawrence H Mohr CPAPreparerPersonNm
PTINP00447603PTIN
Phone6128764500PhoneNum
FieldValueIRS element (for citing)
Tax2018TaxYr
Build TS2020-01-14 16:20:31ZBuildTS

Form 990 IRS990

Principal Ofcr Business Name PrincipalOfcrBusinessName

FieldValueIRS element (for citing)
Business Name Line1Peter J TaylorBusinessNameLine1Txt

US Address USAddress

FieldValueIRS element (for citing)
Address Line1111 Washington Ave So 1400AddressLine1Txt
CityMinneapolisCityNm
State AbbreviationMNStateAbbreviationCd
ZIP55401ZIPCd
FieldValueIRS element (for citing)
Gross Receipts$36,298,841GrossReceiptsAmt
Group Return For AffiliatesfalseGroupReturnForAffiliatesInd
Organization501c3Yes (X)Organization501c3Ind
Website Addresswww.ecmcfoundation.orgWebsiteAddressTxt
Type Of Organization CorpYes (X)TypeOfOrganizationCorpInd
Formation2000FormationYr
Legal Domicile StateDELegalDomicileStateCd
Activity Or MissionECMC Foundation is a grantmaking foundation focused on improving the educational outcomes of underserved youth through evidence-based innovation.ActivityOrMissionDesc
Voting Members Governing Body10VotingMembersGoverningBodyCnt
Voting Members Independent8VotingMembersIndependentCnt
Total Employee17TotalEmployeeCnt
Total Volunteers0TotalVolunteersCnt
Total Gross UBI$0TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm$15,585NetUnrelatedBusTxblIncmAmt
CY Contributions Grants$0CYContributionsGrantsAmt
CY Program Service Revenue$0CYProgramServiceRevenueAmt
PY Investment Income$29,504,341PYInvestmentIncomeAmt
CY Investment Income$32,616,087CYInvestmentIncomeAmt
PY Other Revenue$881,843PYOtherRevenueAmt
CY Other Revenue$3,682,754CYOtherRevenueAmt
PY Total Revenue$30,386,184PYTotalRevenueAmt
CY Total Revenue$36,298,841CYTotalRevenueAmt
PY Grants And Similar Paid$23,674,677PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid$37,598,547CYGrantsAndSimilarPaidAmt
CY Benefits Paid To Members$0CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid$1,966,821PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid$2,083,033CYSalariesCompEmpBnftPaidAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$0CYTotalFundraisingExpenseAmt
PY Other Expenses$1,737,136PYOtherExpensesAmt
CY Other Expenses$1,740,406CYOtherExpensesAmt
PY Total Expenses$27,378,634PYTotalExpensesAmt
CY Total Expenses$41,421,986CYTotalExpensesAmt
PY Revenues Less Expenses$3,007,550PYRevenuesLessExpensesAmt
CY Revenues Less Expenses-$5,123,145CYRevenuesLessExpensesAmt
Total Assets BOY$753,325,273TotalAssetsBOYAmt
Total Assets EOY$733,045,279TotalAssetsEOYAmt
Total Liabilities BOY$15,062,500TotalLiabilitiesBOYAmt
Total Liabilities EOY$20,623,096TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$738,262,773NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$712,422,183NetAssetsOrFundBalancesEOYAmt
Info In Schedule O Part IIIYes (X)InfoInScheduleOPartIIIInd
MissionTo inspire and to facilitate improvements that affect educational outcomes, especially among underserved populations, through evidence-based innovation.MissionDesc
Significant New Program SrvcYes (true)SignificantNewProgramSrvcInd
Significant ChangefalseSignificantChangeInd
Expense$19,279,958ExpenseAmt
Grant$19,279,958GrantAmt
Revenue$3,076,284RevenueAmt
DescCareer Readiness. Established to invest in opportunities in the career and technical education and training arena, focusing on those students who are not planning to attend traditional four-year or two-year colleges. The program is designed to help students who desire the training and skill development that leads to better job prospects by obtaining Postsecondary certificates with economic and education value. While ECMC Foundation is primarily focusing on the schools that make up Zenith Education Group, it is also committed to funding projects that improve the sector overall.Desc

Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp

FieldValueIRS element (for citing)
Expense$9,394,160ExpenseAmt
Grant$9,394,160GrantAmt
Revenue$606,000RevenueAmt
DescCollege Success. Designed to increase the number of students from traditionally underserved backgrounds, including low-income and first-generation, who are prepared for, admitted to, and graduate from an institution of higher education. The program funds the development of techniques and tools that are adopted and used by professionals in the field to improve the college-going rate of underserved students. ECMC Foundation also supports initiatives to improve six-year college graduation rates at four-year colleges and universities, and three-year transfer/completion rates at community colleges and schools for students from these underserved populations.Desc

Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp

FieldValueIRS element (for citing)
Expense$1,057,500ExpenseAmt
Grant$1,057,500GrantAmt
Revenue$0RevenueAmt
DescEducation Innovation Ventures. Designed to provide flexible, risk capital to early-stage ventures and entrepreneurs working to increase educational outcomes and economic mobility among underserved learners. Education Innovation Ventures uses financial tools, including loans, deposits, equity, and guarantees, to make below-market-rate investments to nonprofit and for-profit enterprises that seek to generate both social impact and financial returns. Financial returns are reinvested into additional program-related investments, allowing ECMC Foundation to recycle investment dollars and generate further positive impact on learners' lives.Desc

Prog Srvc Accom Acty Other ProgSrvcAccomActyOtherGrp (3 entries)

ExpenseExpenseAmtGrantGrantAmtRevenueRevenueAmtDescDesc
$6,100,823$4,534,584$0Other programs. Miscellaneous programs and activities for the furtherance of educational opportunities through grants, awards and research on the management of educational debt.
$1,947,345$1,947,345$0Teacher and Leader Development. Created to invest in teacher and leader development focused on complex intellectual student work, often referred to as deeper learning. The program also focuses on initiatives that build the diversity pipelines into the teaching and school leader professions. Through these investments, ECMC Foundation intends to improve teaching and student academic outcomes as measured by the next generation of standards and assessments. In December 2017, ECMC Foundation made the decision to close out the Teacher and Leader Development program. Funds were directed into the College Success, the Career Readiness and the Education Innovation Ventures programs in 2018. Grants previously awarded under the Teacher and Leader Development program will continue to be issued through January 2020.
$1,385,000$1,385,000$0GO! 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 and expend the grant award for the purpose designated in the recipient's grant proposal. Recipients are eligible to receive awards ranging from $10,000 to $100,000. In 2018, ECMC Foundation awarded 92 grants under the GO! Program.
FieldValueIRS element (for citing)
Total Other Prog Srvc Expense$9,433,168TotalOtherProgSrvcExpenseAmt
Total Other Prog Srvc Grant$7,866,929TotalOtherProgSrvcGrantAmt
Total Program Service Expenses$39,164,786TotalProgramServiceExpensesAmt
Described In Section501c3Yes (true)DescribedInSection501c3Ind
Schedule B RequiredfalseScheduleBRequiredInd
Political Campaign ActyfalsePoliticalCampaignActyInd
Lobbying ActivitiesfalseLobbyingActivitiesInd
Donor Advised FundfalseDonorAdvisedFundInd
Conservation EasementsfalseConservationEasementsInd
Collections Of ArtfalseCollectionsOfArtInd
Credit CounselingfalseCreditCounselingInd
Temp Or Permanent EndowmentsfalseTempOrPermanentEndowmentsInd
Report Land Building EquipmentYes (true)ReportLandBuildingEquipmentInd
Report Investments Other SecYes (true)ReportInvestmentsOtherSecInd
Report Program Related InvstfalseReportProgramRelatedInvstInd
Report Other AssetsfalseReportOtherAssetsInd
Report Other LiabilitiesYes (true)ReportOtherLiabilitiesInd
Include FIN48 FootnoteYes (true)IncludeFIN48FootnoteInd
Independent Audit Fincl StmtYes (true)IndependentAuditFinclStmtInd
Consolidated Audit Fincl StmtYes (true)ConsolidatedAuditFinclStmtInd
School OperatingfalseSchoolOperatingInd
Foreign OfficefalseForeignOfficeInd
Foreign ActivitiesfalseForeignActivitiesInd
More Than5000 K To OrgfalseMoreThan5000KToOrgInd
More Than5000 K To IndividualsfalseMoreThan5000KToIndividualsInd
Professional FundraisingfalseProfessionalFundraisingInd
Fundraising ActivitiesfalseFundraisingActivitiesInd
Gaming ActivitiesfalseGamingActivitiesInd
Operate HospitalfalseOperateHospitalInd
Grants To OrganizationsYes (true)GrantsToOrganizationsInd
Grants To IndividualsfalseGrantsToIndividualsInd
Schedule J RequiredYes (true)ScheduleJRequiredInd
Tax Exempt BondsfalseTaxExemptBondsInd
Engaged In Excess Benefit TransfalseEngagedInExcessBenefitTransInd
PY Excess Benefit TransfalsePYExcessBenefitTransInd
Loan OutstandingfalseLoanOutstandingInd
Grant To Related PersonfalseGrantToRelatedPersonInd
Business Rln With Org MemfalseBusinessRlnWithOrgMemInd
Business Rln With Fam MemfalseBusinessRlnWithFamMemInd
Business Rln With Officer EntYes (true)BusinessRlnWithOfficerEntInd
Deductible Non Cash ContrifalseDeductibleNonCashContriInd
Deductible Art ContributionfalseDeductibleArtContributionInd
Terminate OperationsfalseTerminateOperationsInd
Partial LiquidationfalsePartialLiquidationInd
Disregarded EntityfalseDisregardedEntityInd
Related EntityYes (true)RelatedEntityInd
Related Organization Ctrl EntfalseRelatedOrganizationCtrlEntInd
Trnsfr Exmpt Non Chrtbl Rltd OrgfalseTrnsfrExmptNonChrtblRltdOrgInd
Activities Conducted PrtshpfalseActivitiesConductedPrtshpInd
Schedule O RequiredYes (true)ScheduleORequiredInd
IRP Document10IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Employee17EmployeeCnt
Employment Tax Returns FiledYes (true)EmploymentTaxReturnsFiledInd
Unrelated Bus Incm Over LimitYes (true)UnrelatedBusIncmOverLimitInd
Form990 T FiledYes (true)Form990TFiledInd
Foreign Financial AccountfalseForeignFinancialAccountInd
Prohibited Tax Shelter TransfalseProhibitedTaxShelterTransInd
Taxable Party NotificationfalseTaxablePartyNotificationInd
Nondeductible ContributionsfalseNondeductibleContributionsInd
Quid Pro Quo ContributionsfalseQuidProQuoContributionsInd
Form8282 Property Disposed OfYes (true)Form8282PropertyDisposedOfInd
Rcv Fnds To Pay Prsnl Bnft CntrctfalseRcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft CntrctfalsePayPremiumsPrsnlBnftCntrctInd
Indoor Tanning ServicesfalseIndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht PymtfalseSubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst IncfalseSubjectToExcsTaxNetInvstIncInd
Info In Schedule O Part VIYes (X)InfoInScheduleOPartVIInd
Governing Body Voting Members10GoverningBodyVotingMembersCnt
Independent Voting Member8IndependentVotingMemberCnt
Family Or Business RlnfalseFamilyOrBusinessRlnInd
Delegation Of Mgmt DutiesfalseDelegationOfMgmtDutiesInd
Change To Org DocumentsfalseChangeToOrgDocumentsInd
Material Diversion Or MisusefalseMaterialDiversionOrMisuseInd
Members Or StockholdersYes (true)MembersOrStockholdersInd
Election Of Board MembersYes (true)ElectionOfBoardMembersInd
Decisions Subject To ApprovaYes (true)DecisionsSubjectToApprovaInd
Minutes Of Governing BodyYes (true)MinutesOfGoverningBodyInd
Minutes Of CommitteesYes (true)MinutesOfCommitteesInd
Officer Mailing AddressfalseOfficerMailingAddressInd
Local ChaptersfalseLocalChaptersInd
Form990 Provided To Gvrn BodyYes (true)Form990ProvidedToGvrnBodyInd
Conflict Of Interest PolicyYes (true)ConflictOfInterestPolicyInd
Annual Disclosure Covered PrsnYes (true)AnnualDisclosureCoveredPrsnInd
Regular Monitoring EnfrcYes (true)RegularMonitoringEnfrcInd
Whistleblower PolicyYes (true)WhistleblowerPolicyInd
Document Retention PolicyYes (true)DocumentRetentionPolicyInd
Compensation Process CEOYes (true)CompensationProcessCEOInd
Compensation Process OtherYes (true)CompensationProcessOtherInd
Investment In Joint VenturefalseInvestmentInJointVentureInd
States Where Copy Of Return Is FldCAStatesWhereCopyOfReturnIsFldCd
Own WebsiteYes (X)OwnWebsiteInd
Upon RequestYes (X)UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1Martin A ScanlonBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone6512210566PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1111 Washington Ave So Ste 1400AddressLine1Txt
CityMinneapolisCityNm
State AbbreviationMNStateAbbreviationCd
ZIP55401ZIPCd

Form990 Part VII Section A Form990PartVIISectionAGrp (19 entries)

TitleTitleTxtAverage Hours Per WeekAverageHoursPerWeekRtAverage Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRtIndividual Trustee Or DirectorIndividualTrusteeOrDirectorIndOfficerOfficerIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmtHighest Compensated EmployeeHighestCompensatedEmployeeIndFormer Ofcr Director TrusteeFormerOfcrDirectorTrusteeInd
Peter J Taylor
President & Director, ECMC Foundation40.00.0Yes (X)Yes (X)$560,681$0$120,889
John F DePodesta
Board Chair not paid by Foundation1.016.0Yes (X)$0$180,500$0
Julia Gouw
Director not paid by Foundation1.06.0Yes (X)$0$128,000$0
Diana J Ingram
Director not paid by Foundation1.08.0Yes (X)$0$122,500$0
I King Jordan
Director not paid by Foundation1.06.0Yes (X)$0$117,500$0
James V McKeon
Director not paid by Foundation1.011.0Yes (X)$0$155,000$0
Jack O'Connell
Director not paid by Foundation1.07.0Yes (X)$0$122,500$0
Maurice M Salter
Director not paid by Foundation1.011.0Yes (X)$0$140,000$0
K Paul Singh
Director not paid by Foundation1.010.0Yes (X)$0$124,000$0
Jeremy J Wheaton
President & CEO ECMC Group, Inc. not paid by Foundation0.040.0Yes (X)$0$746,904$89,228
Daniel S Fisher
General Counsel/Corp Secretary not paid by Foundation0.040.0Yes (X)$0$558,196$79,105
Martin A Scanlon
CFO & Treasurer not paid by Foundation0.040.0Yes (X)$0$623,772$69,806
Sarah Belnick
Dir, Program Management40.00$111,881$0$22,897Yes (X)
Alissa Santoro
Office Manager & Executive Assistant40.00$106,144$0$21,845Yes (X)
Jennifer E Zeisler
Sr Dir, Program Management40.00$154,019$0$27,000Yes (X)
Gregory A Van Guilder
Former CFO not paid by Foundation0.040.0$0$898,580$92,322Yes (X)
Roberta Cooper Ramo
Former Director not paid by Foundation0.00.0$0$75,000$0Yes (X)
Robert A Stein
Former Director not paid by Foundation0.00.0$0$60,000$0Yes (X)
Richard J Boyle
Former Director/CEO/President not paid by Foundation0.00.0$0$16,075$0Yes (X)
FieldValueIRS element (for citing)
Total Reportable Comp From Org$932,725TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org$4,068,527TotReportableCompRltdOrgAmt
Total Other Compensation$523,092TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K4IndivRcvdGreaterThan100KCnt
Former Ofcr Employees ListedYes (true)FormerOfcrEmployeesListedInd
Total Comp Greater Than150 KYes (true)TotalCompGreaterThan150KInd
Compensation From Other SrcsfalseCompensationFromOtherSrcsInd

Contractor Compensation ContractorCompensationGrp

Contractor Name ContractorName

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1American Institutes for ResearchBusinessNameLine1Txt

Contractor Address ContractorAddress

US Address USAddress

FieldValueIRS element (for citing)
Address Line11000 Thomas Jefferson St NWAddressLine1Txt
CityWashingtonCityNm
State AbbreviationDCStateAbbreviationCd
ZIP20007ZIPCd
FieldValueIRS element (for citing)
ServicesConsulting ServicesServicesDesc
Compensation$443,897CompensationAmt
FieldValueIRS element (for citing)
Cntrct Rcvd Greater Than100 K1CntrctRcvdGreaterThan100KCnt
Total Contributions$0TotalContributionsAmt

Total Oth Program Service Rev TotalOthProgramServiceRevGrp

FieldValueIRS element (for citing)
Total Revenue Column$0TotalRevenueColumnAmt
Related Or Exempt Func Income$0RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$0UnrelatedBusinessRevenueAmt
Exclusion$0ExclusionAmt
FieldValueIRS element (for citing)
Total Program Service Revenue$0TotalProgramServiceRevenueAmt

Investment Income InvestmentIncomeGrp

FieldValueIRS element (for citing)
Total Revenue Column$116,087TotalRevenueColumnAmt
Exclusion$116,087ExclusionAmt

Rental Income Or Loss RentalIncomeOrLossGrp

FieldValueIRS element (for citing)
Real$0RealAmt
Personal$0PersonalAmt

Gross Amount Sales Assets GrossAmountSalesAssetsGrp

FieldValueIRS element (for citing)
Securities$32,500,000SecuritiesAmt

Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp

FieldValueIRS element (for citing)
Securities$0SecuritiesAmt

Gain Or Loss GainOrLossGrp

FieldValueIRS element (for citing)
Securities$32,500,000SecuritiesAmt
Other$0OtherAmt

Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp

FieldValueIRS element (for citing)
Total Revenue Column$32,500,000TotalRevenueColumnAmt
Exclusion$32,500,000ExclusionAmt

Other Revenue Misc OtherRevenueMiscGrp (2 entries)

DescDescBusinessBusinessCdTotal Revenue ColumnTotalRevenueColumnAmtRelated Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmtExclusionExclusionAmt
Grants awarded in a prior year and cancelled or refunded in 2018813211$3,682,284$3,682,284
Intercompany Servicing Revenue900099$470$470

Miscellaneous Revenue MiscellaneousRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$0TotalRevenueColumnAmt
Related Or Exempt Func Income$0RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$0UnrelatedBusinessRevenueAmt
Exclusion$0ExclusionAmt
FieldValueIRS element (for citing)
Other Revenue Total$3,682,754OtherRevenueTotalAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$36,298,841TotalRevenueColumnAmt
Related Or Exempt Func Income$3,682,284RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$0UnrelatedBusinessRevenueAmt
Exclusion$32,616,557ExclusionAmt

Grants To Domestic Orgs GrantsToDomesticOrgsGrp

FieldValueIRS element (for citing)
Total$37,598,547TotalAmt
Program Services$37,598,547ProgramServicesAmt

Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp

FieldValueIRS element (for citing)
Total$681,569TotalAmt
Management And General$681,569ManagementAndGeneralAmt

Other Salaries And Wages OtherSalariesAndWagesGrp

FieldValueIRS element (for citing)
Total$1,068,195TotalAmt
Program Services$970,642ProgramServicesAmt
Management And General$97,553ManagementAndGeneralAmt

Pension Plan Contributions PensionPlanContributionsGrp

FieldValueIRS element (for citing)
Total$95,464TotalAmt
Program Services$86,746ProgramServicesAmt
Management And General$8,718ManagementAndGeneralAmt

Other Employee Benefits OtherEmployeeBenefitsGrp

FieldValueIRS element (for citing)
Total$152,356TotalAmt
Program Services$138,442ProgramServicesAmt
Management And General$13,914ManagementAndGeneralAmt

Payroll Taxes PayrollTaxesGrp

FieldValueIRS element (for citing)
Total$85,449TotalAmt
Program Services$77,645ProgramServicesAmt
Management And General$7,804ManagementAndGeneralAmt

Fees For Services Legal FeesForServicesLegalGrp

FieldValueIRS element (for citing)
Total$19,768TotalAmt
Management And General$19,768ManagementAndGeneralAmt

Fees For Services Accounting FeesForServicesAccountingGrp

FieldValueIRS element (for citing)
Total$34,794TotalAmt
Management And General$34,794ManagementAndGeneralAmt

Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp

FieldValueIRS element (for citing)
Total$451,109TotalAmt
Management And General$451,109ManagementAndGeneralAmt

Fees For Services Other FeesForServicesOtherGrp

FieldValueIRS element (for citing)
Total$492,730TotalAmt
Program Services$0ProgramServicesAmt
Management And General$492,730ManagementAndGeneralAmt
Fundraising$0FundraisingAmt

Office Expenses OfficeExpensesGrp

FieldValueIRS element (for citing)
Total$128,972TotalAmt
Program Services$25,307ProgramServicesAmt
Management And General$103,665ManagementAndGeneralAmt

Information Technology InformationTechnologyGrp

FieldValueIRS element (for citing)
Total$6,106TotalAmt
Management And General$6,106ManagementAndGeneralAmt

Occupancy OccupancyGrp

FieldValueIRS element (for citing)
Total$211,120TotalAmt
Program Services$172,735ProgramServicesAmt
Management And General$38,385ManagementAndGeneralAmt

Travel TravelGrp

FieldValueIRS element (for citing)
Total$244,434TotalAmt
Management And General$244,434ManagementAndGeneralAmt

Conferences Meetings ConferencesMeetingsGrp

FieldValueIRS element (for citing)
Total$52,304TotalAmt
Program Services$30,957ProgramServicesAmt
Management And General$21,347ManagementAndGeneralAmt

Depreciation Depletion DepreciationDepletionGrp

FieldValueIRS element (for citing)
Total$77,935TotalAmt
Program Services$63,765ProgramServicesAmt
Management And General$14,170ManagementAndGeneralAmt

Insurance InsuranceGrp

FieldValueIRS element (for citing)
Total$20,194TotalAmt
Management And General$20,194ManagementAndGeneralAmt

Other Expenses OtherExpensesGrp

FieldValueIRS element (for citing)
DescMiscellaneous ExpenseDesc
Total$940TotalAmt
Management And General$940ManagementAndGeneralAmt

All Other Expenses AllOtherExpensesGrp

FieldValueIRS element (for citing)
Total$0TotalAmt
Program Services$0ProgramServicesAmt
Management And General$0ManagementAndGeneralAmt
Fundraising$0FundraisingAmt

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$41,421,986TotalAmt
Program Services$39,164,786ProgramServicesAmt
Management And General$2,257,200ManagementAndGeneralAmt
Fundraising$0FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

FieldValueIRS element (for citing)
BOY$15,254,583BOYAmt
EOY$19,271,649EOYAmt

Accounts Receivable AccountsReceivableGrp

FieldValueIRS element (for citing)
BOY$734BOYAmt

Receivables From Officers Etc ReceivablesFromOfficersEtcGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$0EOYAmt

Rcvbl From Disqualified Prsn RcvblFromDisqualifiedPrsnGrp

FieldValueIRS element (for citing)
EOY$0EOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

FieldValueIRS element (for citing)
BOY$6,347BOYAmt
FieldValueIRS element (for citing)
Land Bldg Equip Cost Or Other Bss$273,689LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec$169,645LandBldgEquipAccumDeprecAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

FieldValueIRS element (for citing)
BOY$156,277BOYAmt
EOY$104,044EOYAmt

Investments Other Securities InvestmentsOtherSecuritiesGrp

FieldValueIRS element (for citing)
BOY$733,787,031BOYAmt
EOY$713,069,586EOYAmt

Investments Program Related InvestmentsProgramRelatedGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$600,000EOYAmt

Other Assets Total OtherAssetsTotalGrp

FieldValueIRS element (for citing)
BOY$4,120,301BOYAmt
EOY$0EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$753,325,273BOYAmt
EOY$733,045,279EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

FieldValueIRS element (for citing)
BOY$330,744BOYAmt
EOY$425,426EOYAmt

Grants Payable GrantsPayableGrp

FieldValueIRS element (for citing)
BOY$14,366,780BOYAmt
EOY$20,087,961EOYAmt

Loans From Officers Directors LoansFromOfficersDirectorsGrp

FieldValueIRS element (for citing)
EOY$0EOYAmt

Other Liabilities OtherLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$364,976BOYAmt
EOY$109,709EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$15,062,500BOYAmt
EOY$20,623,096EOYAmt
FieldValueIRS element (for citing)
Organization Follows SFAS117Yes (X)OrganizationFollowsSFAS117Ind

Unrestricted Net Assets UnrestrictedNetAssetsGrp

FieldValueIRS element (for citing)
BOY$738,262,773BOYAmt
EOY$712,422,183EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$738,262,773BOYAmt
EOY$712,422,183EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$753,325,273BOYAmt
EOY$733,045,279EOYAmt
FieldValueIRS element (for citing)
Reconcilation Revenue Expnss-$5,123,145ReconcilationRevenueExpnssAmt
Net Unrlzd Gains Losses Invst-$20,717,445NetUnrlzdGainsLossesInvstAmt
Other Changes In Net Assets$0OtherChangesInNetAssetsAmt
Method Of Accounting AccrualYes (X)MethodOfAccountingAccrualInd
Accountant Compile Or ReviewfalseAccountantCompileOrReviewInd
FS AuditedYes (true)FSAuditedInd

FS Audited Basis FSAuditedBasisGrp

FieldValueIRS element (for citing)
Consol And Sep Basis Fincl StmtYes (X)ConsolAndSepBasisFinclStmtInd
FieldValueIRS element (for citing)
Audit CommitteeYes (true)AuditCommitteeInd

Schedule A IRS990ScheduleA

FieldValueIRS element (for citing)
Supporting Organization509a3Yes (X)SupportingOrganization509a3Ind
Supporting Org Type2Yes (X)SupportingOrgType2Ind
Supported Organizations2SupportedOrganizationsCnt

Supported Org Information SupportedOrgInformationGrp (2 entries)

EINEINOrganization TypeOrganizationTypeCdGoverning Document ListedGoverningDocumentListedIndSupportSupportAmtOther SupportOtherSupportAmt
Educational Credit Management Corporation
4117786179Yes (true)$34,855,186$0
Zenith Education Group Inc
4722374882Yes (true)$6,566,800$0
FieldValueIRS element (for citing)
Supported Organizations Total2SupportedOrganizationsTotalCnt
Support Sum$41,421,986SupportSumAmt
Other Support Sum$0OtherSupportSumAmt

Form990 Sch A Supporting Org Form990SchASupportingOrgGrp

FieldValueIRS element (for citing)
Listed By Name Governing DocYes (true)ListedByNameGoverningDocInd
Suprt Org No IRS DeterminationfalseSuprtOrgNoIRSDeterminationInd
Supported Org Section C456falseSupportedOrgSectionC456Ind
Supported Org Not Organized USfalseSupportedOrgNotOrganizedUSInd
Organization Change Suprt OrgfalseOrganizationChangeSuprtOrgInd
Support Non Supported OrgfalseSupportNonSupportedOrgInd
Payment Substantial ContribtrfalsePaymentSubstantialContribtrInd
Loan Disqualified PersonfalseLoanDisqualifiedPersonInd
Controlled Disqualified PrsnfalseControlledDisqualifiedPrsnInd
Disqualified Prsn Controll IntfalseDisqualifiedPrsnControllIntInd
Disqualified Prsn Ownr IntfalseDisqualifiedPrsnOwnrIntInd
Excess Business Holdings RulesfalseExcessBusinessHoldingsRulesInd
Contribution ControllerfalseContributionControllerInd
Contribution FamilyfalseContributionFamilyInd
Contribution35 ControlledfalseContribution35ControlledInd
FieldValueIRS element (for citing)
Majority Dir Trst Supported OrgYes (true)MajorityDirTrstSupportedOrgInd

Schedule D IRS990ScheduleD

Leasehold Improvements LeaseholdImprovementsGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$273,689OtherCostOrOtherBasisAmt
Depreciation$169,645DepreciationAmt
Book Value$104,044BookValueAmt
FieldValueIRS element (for citing)
Total Book Value Land Buildings$104,044TotalBookValueLandBuildingsAmt

Other Securities OtherSecuritiesGrp

FieldValueIRS element (for citing)
DescInvestment in ECMC Group, Inc. Apportioned Investment PoolDesc
Book Value$713,069,586BookValueAmt
Method ValuationFMethodValuationCd
FieldValueIRS element (for citing)
Total Book Value Securities$713,069,586TotalBookValueSecuritiesAmt

Other Liabilities Org OtherLiabilitiesOrgGrp (5 entries)

DescDescAmtAmt
Due To ECMC Group, Inc.$57,050
Due To Educational Credit Management Corporation$1,212
Due to ECMC Shared Services Company, LLC$32,653
Due to Zenith Education Group, Inc.$315
Lease Liabilities$18,479
FieldValueIRS element (for citing)
Total Liability$109,709TotalLiabilityAmt
Footnote TextYes (X)FootnoteTextInd
Total Rev Etc Audited Fincl Stmt$11,449,000TotalRevEtcAuditedFinclStmtAmt
Net Unrealized Gains Invst-$20,717,445NetUnrealizedGainsInvstAmt
Other Revenue$997OtherRevenueAmt
Revenue Not Reported-$20,716,448RevenueNotReportedAmt
Revenue Subtotal$32,165,448RevenueSubtotalAmt
Other Revenues Not Included$4,133,393OtherRevenuesNotIncludedAmt
Revenue Not Reported Fincl Stmt$4,133,393RevenueNotReportedFinclStmtAmt
Total Revenue Per Form990$36,298,841TotalRevenuePerForm990Amt
Tot Expns Etc Audited Fincl Stmt$37,289,000TotExpnsEtcAuditedFinclStmtAmt
Other Expenses Included$407OtherExpensesIncludedAmt
Expenses Not Reported$407ExpensesNotReportedAmt
Expenses Subtotal$37,288,593ExpensesSubtotalAmt
Other Expenses Not Included$4,133,393OtherExpensesNotIncludedAmt
Expenses Not Rpt Fincl Stmt$4,133,393ExpensesNotRptFinclStmtAmt
Total Expenses Per Form990$41,421,986TotalExpensesPerForm990Amt

Supplemental Information Detail SupplementalInformationDetail (6 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
Schedule D, Part XI, Line 2(a) Net unrealized loss on investmentsNet unrealized loss on investment in the ECMC Group, Inc. apportioned investment pool are $20,717,445.
Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnoteThe 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, 2018 or 2017. 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 990Rounding adjustment because dollars are reported in thousands on the audited financial statements - 997
Schedule D, Part XI, Line 4(b) Other revenues in form 990 not in audited financial statementsGrants awarded in prior years to Zenith Education Group, Inc. for its Campaign for Innovation and to unaffiliated entities in support of career and technical education and training, and cancelled or refunded in 2018. The awards were correctly recorded in prior years on ECMC Foundation's books. - 3682284 Investment Management Fee - 451109
Schedule D, Part XII, Line 2(d) Other expenses in audited financial statements not in form 990Rounding adjustment because dollars are reported in thousands on the audited financial statements - 407
Schedule D, Part XII, Line 4(b) Other expenses in form 990 not in audited financial statementsGrants awarded in prior years to Zenith Education Group, Inc. for its Campaign for Innovation and to unaffiliated entities in support of career and technical education and training, and cancelled or refunded in 2018. The awards were correctly recorded in prior years on ECMC Foundation's books. - 3682284 Investment Management Fee - 451109

Schedule I IRS990ScheduleI

FieldValueIRS element (for citing)
Grant Records MaintainedYes (true)GrantRecordsMaintainedInd

Recipient Table RecipientTable (192 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdRecipient EINRecipientEINIRC SectionIRCSectionDescCash GrantCashGrantAmtPurpose Of GrantPurposeOfGrantTxtAddress Line2USAddress/AddressLine2Txt
Zenith Education Group
111 Washington Ave SoMinneapolisMN55401472237488501(C)(3)$6,566,800Mission & Career Readiness
ECMC Group
111 Washington Ave SoMinneapolisMN55401411778617501(C)(3)$2,597,584Special Opportunities
10000 Degrees
1650 Los Gamos DrSan RafaelCA94903953667812501(C)(3)$500,000College Success
A Gallery Career Technology Education (CTE)
3001 Bluff View DrGarlandTX75043472853959501(C)(3)$10,000Program Support
A Kid's Place of Tampa Bay
1715 Lithia Pinecrest RdBrandonFL33511262757636501(C)(3)$25,000Program Support
AboutKidz
11140 Fair Oaks BlvdFair OaksCA95628800683387501(C)(3)$25,000Program Support
Achieving the Dream
8484 Georgia AveSilver SpringMD20910271635830501(C)(3)$10,000Special Opportunities
Active Minds
2001 S St NWWashingtonDC20009200587172501(C)(3)$455,000College Success & General Support
Adelante Mujeres
2030 Main StForest GroveOR97116030473181501(C)(3)$10,000Program Support
After School All Stars
8485 W Sunset RdLas VegasNV89113880348811501(C)(3)$10,000Program Support
Albany County SAFE Project
PO Box 665LaramieWY82070742177133501(C)(3)$10,000Program Support
Alive Camp
12 Cypress Point CtOrmond BeachFL32174821408242501(C)(3)$10,000Program Support
America Achieves
100 W 33rd StNew YorkNY10001273238471501(C)(3)$150,000Career Readiness
American Institutes for Research
1000 Thomas Jefferson St NWWashingtonDC20007250965219501(C)(3)$247,450Career Readiness
Antioch High School
1900 Hobson PikeAntiochTN37013620717138Public School$25,000Program Support
ASD Hope IncTexas Autism Academy
1009 Pruitt RdThe WoodlandsTX77380475417326501(C)(3)$10,000Program Support
Aspen Institute
2300 N St NWWashingtonDC20037840399006501(C)(3)$1,457,500Career Readiness, College Success & Spec Opp
Association for Career and Technical Education (ACTE)
1410 King StAlexandriaVA22314520632865501(C)(3)$1,056,000Leadership Collaborative
Autism Shifts
5215 W Laurel StTampaFL33607260613034501(C)(3)$25,000Program Support
Avenues for Homeless Youth
1708 Oak Park Ave NMinneapolisMN55411411765140501(C)(3)$25,000Program Support
Baker University
618 Eighth StBaldwin CityKS66006480543766501(C)(3)$20,000General Support
Better Future Forward Inc
400 N Washington StFalls ChurchVA22046814772781501(C)(3)$400,000Education Innovation Ventures
Beyond12
2101 Webster StOaklandCA94612271275246501(C)(3)$650,000College Success
Big Brothers Big Sisters
2502 N Rocky Point DrTampaFL33607231365190501(C)(3)$75,000Special Opportunities
Big Brothers Big Sisters - Twin Cities
2550 University Ave WSt PaulMN55114320017737501(C)(3)$25,000Program Support
Bipartisan Policy Center
1225 Eye St NWWashingtonDC20005731628382501(C)(3)$25,000Special Opportunities
Bottom Line
50 Milk StBostonMA02109043351427501(C)(3)$750,000College Success
Bridging Freedom
PO Box 18984TampaFL33679275467980501(C)(3)$10,000Program Support
Brooke School Foundation Inc
190 Cummins HighwayRoslindaleMA02131300015324501(C)(3)$15,000General Support
Buck Institute for Education
3 Hamilton LandingNovatoCA94949680160429501(C)(3)$1,219,745Teacher and Leader Development
BUY Cobb Inc
PO Box 3485MariettaGA30061585234027501(C)(3)$10,000Program Support
Cal Aero Preserve Academy
15850 Main StChinoCA91708454591853501(C)(3)$25,000Program Support
California Community Foundation
221 S Figueroa StLos AngelesCA90012953510055501(C)(3)$55,000College Success & Special Opportunities
California Competes
2323 BroadwayOaklandCA94612954302067501(C)(3)$150,000College Success
California Council on Economic Education (CCEE)
23430 Hawthorne BlvdTorranceCA90505330237320501(C)(3)$50,000Special Opportunities
California State University Channel Islands
1 University DrCamarilloCA93012770433230501(C)(3)$75,000College Success
Career Dress
55 W HuronPontiacMI48342473704980501(C)(3)$10,000Program Support
Caring for Kids
237 Eldorado AveFircrestWA98466273768791501(C)(3)$10,000Program Support
CASA Youth Advocates Inc
26 East Fourth StMediaPA19063231901080501(C)(3)$10,000General Support
Catholic Charities Fort Worth
249 W Thornhill DrFort WorthTX76115750808769501(C)(3)$550,000College Success
Center for Work Education & Employment (CWEE)
1175 Osage StDenverCO80204742202303501(C)(3)$10,000Program Support
Central Carolina Community Foundation
2711 Middleburg DrColumbiaSC29204570793960501(C)(3)$25,000Special Opportunities
Charles Drew University of Medicine and Science
1731 East 120th StLos AngelesCA90059956151774501(C)(3)$50,000Special Opportunities
Child Care Answers
1776 N Meridian StIndianapolisIN46202350888763501(C)(3)$25,000Program Support
Children's Castle Theater
8442 17th Ave SBloomingtonMN55425411696284501(C)(3)$25,000Program Support
Children's Museum of Houston
1500 Binz StHoustonTX77004742178563501(C)(3)$10,000Program Support
City of Los Angeles
630 W 5th StLos AngelesCA90071956000735Government$25,000Program Support
Civic Nation
727 15th St NWWashingtonDC20005473576918501(C)(3)$10,000Special Opportunities
Clay Youth Connect via Youth Crisis Center
3015 Parental Home RdJacksonvilleFL32216592176287501(C)(3)$10,000Program Support
College Forward
505 E Huntland DrAustinTX78752422003552501(C)(3)$400,000Education Innovation Ventures
College Unbound
325 Public StProvidenceRI02905050485883501(C)(3)$150,000Career Readiness
Community Family Centers
7524 Avenue EHoustonTX77012741691632501(C)(3)$10,000Program Support
Community Partners
1000 N Alameda StLos AngelesCA90012954302067501(C)(3)$60,000Special Opportunities
Como Friends
1225 Estabrook DrSt PaulMN55103411943928501(C)(3)$25,000Program Support
Complete College America
429 East Vermont StIndianapolisIN46202264789471501(C)(3)$600,000College Success
Coro Southern California
1000 N Alameda StLos AngelesCA90012954274561501(C)(3)$21,000Special Opportunities
Council for Adult and Experiential Learning
55 E Monroe StChicagoIL60603132890752501(C)(3)$840,703Career Readiness & Special Opportunities
Credential Engine Inc
1730 Rhode Island Ave NWWashingtonDC20036813389623501(C)(3)$97,650Career Readiness
Credit Abuse Resistance Education
66 Canal Center PlazaAlexandriaVA22314810788458501(C)(3)$10,000Special Opportunities
Dayspring Center
1537 Central AveIndianapolisIN46202351618998501(C)(3)$25,000Program Support
Digital Promise
1001 Connecticut Ave NWWashingtonDC20036452708794501(C)(3)$150,000Career Readiness
Discovery Cube Los Angeles
11800 Foothill BlvdLos AngelesCA91342455191270501(C)(3)$10,000Special Opportunities
Downtown On the Go
950 Pacific AveTacomaWA98402464368609501(C)(3)$10,000Program Support
Education Design Lab
1200 18th st NWWashingtonDC20036464248042501(C)(3)$1,241,625Career Readiness
Elevate Oregon
12215 NE Marx StPortlandOR97230272151955501(C)(3)$10,000Program Support
Emerging Practitioners in Philanthropy (EPIP)
601 West 26th StNew YorkNY10001943213100501(C)(3)$10,000Special Opportunities
Emmanuel Pentecostal Church of Hoboken
311 East 1st AveRoselleNJ07203222176713501(C)(3)$10,000Program Support
Ethos Music Center
2 N Killingsworth StPortlandOR97217911954235501(C)(3)$10,000Program Support
Excelencia in Education
1156 15th St NWWashingtonDC20005200927912501(C)(3)$800,000College Success
Family Promise of Gwinnett County Inc
3495 B Sugarloaf PkwyLawrencevilleGA30044141906067501(C)(3)$10,000Program Support
Fort Worth Hope Center
3625 E Loop 820 SFort WorthTX76119010801061501(C)(3)$10,000Program Support
Foundation for California Community Colleges
1102 Q StSacramentoCA95811680412350501(C)(3)$574,978Career Readiness & Special Opportunities
Futures Inc dba Futures Foundation for Volusia County Schools
3750 Olson DrDaytona BeachFL32124592560862501(C)(3)$10,000Program Support
GemStars
2637 Weyburn RdColumbusOH43232823070514501(C)(3)$10,000Program Support
Georgia State University Research Foundation
30 Courtland St SEAtlantaGA30303581845423501(C)(3)$400,000College Success
Girls Empowered Mentally for Success
PO Box 292814TampaFL33687202375049501(C)(3)$10,000Program Support
Girlstart
1400 West Anderson LnAustinTX78757311595414501(C)(3)$10,000Program Support
Glow Mentoring Program Inc
PO Box 1921ChesapeakeVA23327822447697501(C)(3)$10,000Program Support
Good Samaritan Health Center of Gwinnett
5949 Buford HwyNorcrossGA30071270080400501(C)(3)$10,000Program Support
GradGuru
1188 Arch StBerkeleyCA94708454898226501(C)(3)$450,000College Success
Graham Elementary and Middle School
140 E 16th AveColumbusOH43201264350069Public School$10,000Program Support
Greater Wyoming Big Brothers Big Sisters
1010 S 6th StLaramieWY82070510188774501(C)(3)$10,000Program Support
Green Dot Public Schools
1149 South Hill StLos AngelesCA90015954679811School District$15,000General Support
Greensburg Salem School District
65 Mennel DrGreensburgPA15601251158334School District$10,000Program Support
GSBA Scholarship Fund
400 East PineSeattleWA98122943138514501(C)(3)$10,000Program Support
Hesperia Unified School District
15576 Main StHesperiaCA92345930944528School District$10,000General Support
Holly Hill Boys & Girls Club
1044 Daytona AveHolly HillFL32117593158162501(C)(3)$10,000Program Support
Hope Center for College Community and Justice
Temple UniversityPhiladelphiaPA19122231365971501(C)(3)$525,000College Success1801 N Broad St
Hope House of Colorado
9088 Marshall CtWestminsterCO80031841567838501(C)(3)$10,000Program Support
Hopewell Music Cooperative North
4350 Fremont Ave NMinneapolisMN55412460547282501(C)(3)$25,000Program Support
Horizon Outreach
256 North Sam Houston Pkwy EHoustonTX77060010946633501(C)(3)$10,000Program Support
House of Praise International Church
7406 Alban StationCourtSpringfieldVA22150521238767501(C)(3)$10,000Program Support
Immigrants Rising
1000 BroadwayOaklandCA94607943255070501(C)(3)$75,000Special Opportunities
Indiana Youth Group
3733 N Meridian StIndianapolisIN46208351760451501(C)(3)$25,000Program Support
Inglewood Educational Foundation
401 S Inglewood AveInglewoodCA90301954722534501(C)(3)$70,000Special Opportunities
Institute for Educational Leadership
4301 Connecticut Ave NWWashingtonDC20008521198450501(C)(3)$946,419Career Readiness
Institute for Women's Policy Research
1200 18th St NWWashingtonDC20036521549572501(C)(3)$440,000Career Readiness & Special Opportunities
Interfaith-Good Samaritan
710 E Garfield StLaramieWY82070830288049501(C)(3)$10,000Program Support
Jacksonville Adventist Academy
4298 Livingston RdJacksonvilleFL32257593381699501(C)(3)$10,000Program Support
Jeremiah Program
615 1st Ave NEMinneapolisMN55413411801834501(C)(3)$32,500Career Readiness, Program Support & Spec Opp
Jeremiah Program
615 1st Ave NEMinneapolisMN55413411801834501(C)(3)$25,000Program Support
Jewish Community Center of Greater Albuquerque
5520 Wyoming Blvd NEAlbuquerqueNM87109850457178501(C)(3)$10,000General Support
Jobs for America's Graduates
1729 King StAlexandriaVA22314521194546501(C)(3)$10,000Special Opportunities
John Jay College of Criminal Justice Prisoner Reentry Institute
524 W 59th StNew YorkNY10019131988190501(C)(3)$350,029Career Readiness
Junior Achievement of Greater Hampton Roads
160 Newtown RdVirginia BeachVA23462540799839501(C)(3)$10,000Program Support
Junior Achievement of the Upper Midwest Inc
1800 White Bear Ave NMaplewoodMN55109411424988501(C)(3)$10,000Special Opportunities
Just-A-Start Corporation
1035 Cambridge StCambridgeMA02141237121174501(C)(3)$501,053Career Readiness
KnowledgeWorks
1 West Fourth StCincinnatiOH45202311321973501(C)(3)$400,000College Success
LASA
8956 Gravelly Lake Dr SWLakewoodWA98499911470619501(C)(3)$10,000Program Support
Latino Youth Leadership of Orange County
2130 East 4th StSanta AnaCA92705815485773501(C)(3)$10,000General Support
Learning Collection Foundation
3900 Crown Rd SW 16709AtlantaGA30304822629892501(C)(3)$10,000Program Support
Lennox School District
10319 Firmona AveLennoxCA90304956001848501(C)(3)$10,000General Support
Linked Learning Alliance
1107 9th StSacramentoCA95814473798868501(C)(3)$75,000Special Opportunities
Live Oak Jaguars
PO Box 73Universal CityTX78148742919490501(C)(3)$10,000Program Support
Lutheran Metropolitan Ministry
4515 Superior AveClevelandOH44103341043756501(C)(3)$750,000Career Readiness
Management Leadership for Tomorrow
7201 Wisconsin AveBethesdaMD20814521795164501(C)(3)$75,000College Success
MDRC
200 Vesey StNew YorkNY10281237379473501(C)(3)$375,000Career Readiness
Minds Matter Twin Cities
4912 Washburn Ave SMinneapolisMN55410455415388501(C)(3)$25,000Program Support
Mn Adult & Teen Challenge
740 E 24th StMinneapolisMN55404411517351501(C)(3)$25,000Program Support
Multicultural Clinical Center
7424 Evanston RdSpringfieldWA22150453365333501(C)(3)$10,000Program Support
Nashville Public Education Foundation
1207 18th Ave SNashvilleTN37212481266314501(C)(3)$25,000Program Support
National Council for Workforce Education
2840 W Bay DrBelleair BluffsFL33770311449995501(C)(3)$126,720Career Readiness
National Public Radio
1111 North Capitol St NEWashingtonDC20002520907625501(C)(3)$350,000Special Opportunities
New Venture Fund
1201 Connecticut Ave NWWashingtonDC20036205806345501(C)(3)$1,000,000Education Innovation Ventures
NORC at the University of Chicago
55 E Monroe StChicagoIL60603362167808501(C)(3)$493,560Career Readiness
North Carolina State University
2701 Sullivan DrRaleighNC27695566000756State School$2,034,053Leadership Collaborative
North Columbus Jaycees
Buckeye Jaycee FoundationColumbusOH43229474318879501(C)(3)$10,000Program Support5905 Beechcroft Rd
North Valley Community Foundation
240 Main StChicoCA95928680161455501(C)(3)$25,000Special Opportunities
Notre Dame High School - Batavia
73 Union StBataviaNY14020510201919School District$25,000Special Opportunities
Notre Dame High School of West Haven Inc
One Notre Dame WayWest HavenCT06516060646748School$25,000Program Support
On Point for College
488 W Onondaga StSyracuseNY13202161569356501(C)(3)$100,000College Success
Orono Middle School
685 North Old Crystal Bay RdLong LakeMN55356416001403Public school$10,000General Support
Outside the Box
3940 East 56th StIndianapolisIN46220412261668501(C)(3)$25,000Program Support
Paul Quinn College
3837 Simpson Stuart RdDallasTX75241741238438School$75,000College Success
PeerForward
1140 3rd St NEWashingtonDC20002522007028501(C)(3)$150,000College Success
People Incorporated
2060 Centre Pointe BlvdSt PaulMN55120410962296501(C)(3)$25,000Program Support
People Serving People
614 Third St SoMinneapolisMN55415411965067501(C)(3)$25,000Program Support
Pikes Peak Community College
5675 South Academy BlvdColorado SpringsCO80906742182257501(C)(3)$10,000Program Support
Posse Foundation
515 South Figueroa StLos AngelesCA90071133840394501(C)(3)$50,000Special Opportunities
Project 150
3600 N Rancho DrLas VegasNV89130456645161501(C)(3)$10,000Program Support
Public Policy Institute of California
500 Washington StSan FranciscoCA94111943207299501(C)(3)$10,000Special Opportunities
RAND Corporation
1776 Main StSanta MonicaCA90401951958142501(C)(3)$278,908Career Readiness
Rayzor Sharp Community Development Foundation
17802 West Little York RdhoustonTX77084821977187501(C)(3)$10,000Program Support
Regents of the University of Minnesota
321 19th Ave SoMinneapolisMN55455416007513State School$100,000Special OpportunitiesCarlson School of Management
Renaissance Academy
5100 Cleveland StVirginia BeachVA23462540722075Public School$10,000Program Support
Restore Education
1202 N FloresSan AntonioTX78212262966263501(C)(3)$10,000Program Support
RVCC
118 Lamington RdBranchburgNJ08876221815636501(C)(3)$10,000Program Support
Sacramento Children's Museum
2701 Prospect Park DrRancho CordovaCA95670202673935501(C)(3)$25,000Program Support
Sacramento Loaves & Fishes
1351 North C StSacramentoCA95811680189897501(C)(3)$25,000Program Support
Saint Anne School
1324 S Main StSanta AnaCA92707951968886501(C)(3)$25,000Program Support
San Bernardino City Unified School District
Making Hope Happen FoundationSan BernardinoCA92410330122847School District$10,000Special Opportunities777 North F St
Sankofa Foundation
PO Box 743693DallasTX75374752684092501(C)(3)$10,000Program Support
Seattle Goodwill Industries
700 Dearborn Pl SSeattleWA98144910568708501(C)(3)$10,000Program Support
Sierra Forever Families
8928 Volunteer LnSacramentoCA95826680002878501(C)(3)$25,000Program Support
Single Mom Strong
7525 Auburn BlvdCitrus HeightsCA95610810917372501(C)(3)$25,000Program Support
Skills for Chicagoland's Future
191 N Wacker DrChicagoIL60606451287418501(C)(3)$385,000Career Readiness
South High Foundation
3131 19th Ave SMinneapolisMN55407411506266501(C)(3)$30,000General Support
Southern California Grantmakers
1000 N Alameda StLos AngelesCA90012952831058501(C)(3)$35,000Special Opportunities
Southern Scholarship Foundation
322 Stadium DrTallahasseeFL32304590939481501(C)(3)$499,160College Success
Special Olympics Indiana
6200 Technology Center DrIndianapolisIN46278351262574501(C)(3)$25,000Program Support
Station1
89 South StBostonMA02111042261109501(C)(3)$25,000Special Opportunities
Stony Point High School Special Education FLC FAC Dept
1801 Tiger TrailRound RockTX78664746002018501(C)(3)$10,000Program Support
Student-Centered Deeper Learning Collaborative
1201 Connecticut Ave NWWashingtonDC20036473681860501(C)(3)$727,600Teacher and Leader Development
Survivors On Purpose
PO Box 120992ArlingtonTX76012484344771501(C)(3)$10,000Program Support
Tennessee College Access and Success Network
1704 Charlotte AveNashvilleTN37203454475679501(C)(3)$10,000Special Opportunities
TESSA
435 Gold Pass HeightColorado SpringsCO80906840746803501(C)(3)$10,000Program Support
The Andrew McDonough B Foundation
101 Rockland CircleWilmingtonDE19803421741037501(C)(3)$10,000General Support
The Arc Greater Prince William
13505 Hillendale DrWoodbridgeVA22193540743298501(C)(3)$10,000Program Support
The Catoctin Foundation dba Loudoun Free Clinic
224A Cornwall St NWLeesburgVA20176541921059501(C)(3)$30,000General Support
The Center for Occupational Research and Development (CORD)
4901 Bosque BlvdWacoTX76710742077794501(C)(3)$150,000Career Readiness
The Council on Alcohol & Drug Abuse
1249 Empire Central DrDallasTX75247750808776501(C)(3)$10,000Program Support
The Fathers Foundation Inc
3333 N IllinoisIndianapolisIN46208462140400501(C)(3)$25,000Program Support
The Forge For Families
3435 Dixie DrHoustonTX77021760485959501(C)(3)$10,000Program Support
The Greater Brandon Community Foundation
1210 Millennium PkwyBrandonFL33511900073721501(C)(3)$10,000Program Support
The Learning Centers at Fairplex
1101 W McKinley AvePomonaCA91768954686764501(C)(3)$50,000Special Opportunities
The PourHouse Inc
39 W Jackson PlaceIndianapolisIN46204113760897501(C)(3)$25,000Program SupportIMPD Downtown
The Taylor House
PO Box 853RosevilleCA95678460748514501(C)(3)$25,000Program Support
Triton College
2000 Fifth AveRiver GroveIL60171362537114State School$500,000College Success
Turning Point of the City
4926 S Miller WayLittletonCO80217474084957501(C)(3)$10,000Program Support
UCLA Alumni Affairs
10920 Wilshire BlvdLos AngelesCA90024952250801501(C)(3)$75,000Special Opportunities
UCLA Foundation
UCLA External Affairs Box 951590Los AngelesCA90095952250800501(C)(3)$90,000Program Support & Special OpportunitiesWilshire Center
UCSF Brain Tumor Center
220 Montgomery StSan FranciscoCA94101946036393501(C)(3)$20,000General Support & Special Opportunities
University of North Carolina (UNC)
910 Raleigh RdChapel HillNC27515562180508School$500,000College SuccessGeneral Administration
University of North Carolina Chapel Hill
172 East Franklin St CBChapel HillNC27599566001393School$70,000College Success
University of Southern California Center for Urban Education
3720 S Flower StLos AngelesCA90089951642394501(C)(3)$300,000College Success
Unloop
900 E Pine StSeattleWA98122475302622501(C)(3)$769,010Career Readiness
Urban Ventures
2924 4th Ave SoMinneapolisMN55408363558710501(C)(3)$10,000Special Opportunities
Variety School
2800 E Stewart AveLas VegasNV89101886000030501(C)(3)$10,000Program Support
Venn Foundation
1127 Barclay StSt PaulMN55106814476503501(C)(3)$87,500Education Innovation Ventures
Volunteer Fireman Association of Cambria County & Vicinity
292 Ott RdPattonPA16668270227638501(C)(3)$10,000Program Support
Windmill Animal Rescue
350 Main StElkoNew MarketMN55054611480957501(C)(3)$25,000Program Support
World Relief Jacksonville
5107 University Blvd WJacksonvilleFL32216236393344501(C)(3)$10,000Program Support
FieldValueIRS element (for citing)
Total501c3 Org192Total501c3OrgCnt
Total Other Org0TotalOtherOrgCnt

Supplemental Information Detail SupplementalInformationDetail

FieldValueIRS element (for citing)
Form And Line ReferenceSchedule I, Part I, Line 2 Procedures for monitoring use of grant funds.FormAndLineReferenceDesc
ExplanationHelping low-income students pursue higher education is core to ECMC Foundation's mission. ECMC Foundation closely monitors the use of the cash grants to 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.ExplanationTxt

Schedule J IRS990ScheduleJ

FieldValueIRS element (for citing)
Idemnification Gross Up PmtsYes (X)IdemnificationGrossUpPmtsInd
Written Policy Ref T And E ExpnssYes (true)WrittenPolicyRefTAndEExpnssInd
Substantiation RequiredYes (true)SubstantiationRequiredInd
Compensation CommitteeYes (X)CompensationCommitteeInd
Independent ConsultantYes (X)IndependentConsultantInd
Compensation SurveyYes (X)CompensationSurveyInd
Board Or Committee ApprovalYes (X)BoardOrCommitteeApprovalInd
Severance PaymentfalseSeverancePaymentInd
Supplemental Nonqual Rtr PlanYes (true)SupplementalNonqualRtrPlanInd
Equity Based Comp ArrngmfalseEquityBasedCompArrngmInd
Comp Based On Revenue Of Flng OrgfalseCompBasedOnRevenueOfFlngOrgInd
Comp Bsd On Rev Related OrgsYes (true)CompBsdOnRevRelatedOrgsInd
Comp Bsd Net Earns Flng OrgfalseCompBsdNetEarnsFlngOrgInd
Comp Bsd Net Earns Rltd OrgsYes (true)CompBsdNetEarnsRltdOrgsInd
Any Non Fixed PaymentsfalseAnyNonFixedPaymentsInd
Initial Contract ExceptionfalseInitialContractExceptionInd

Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (11 entries)

TitleTitleTxtBase Compensation Filing OrgBaseCompensationFilingOrgAmtCompensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmtBonus Filing OrganizationBonusFilingOrganizationAmountBonus Related OrganizationsBonusRelatedOrganizationsAmtOther Compensation Filing OrgOtherCompensationFilingOrgAmtOther Compensation Rltd OrgsOtherCompensationRltdOrgsAmtDeferred Compensation Flng OrgDeferredCompensationFlngOrgAmtDeferred Comp Rltd OrgsDeferredCompRltdOrgsAmtNontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmtNontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmtTotal Compensation Filing OrgTotalCompensationFilingOrgAmtTotal Compensation Rltd OrgsTotalCompensationRltdOrgsAmtComp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmtComp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt
Richard J Boyle
Former Director/CEO/President not paid by Foundation$0$0$0$0$0$16,075$0$0$0$0$0$16,075$0$16,075
Peter J Taylor
President & Director, ECMC Foundation$390,609$0$80,000$0$90,072$0$112,238$0$8,651$0$681,570$0$76,984$0
Roberta Cooper Ramo
Former Director not paid by Foundation$0$75,000$0$0$0$0$0$0$0$0$0$75,000$0$0
Robert A Stein
Former Director not paid by Foundation$0$60,000$0$0$0$0$0$0$0$0$0$60,000$0$0
John F DePodesta
Board Chair not paid by Foundation$0$180,500$0$0$0$0$0$0$0$0$0$180,500$0$0
James V McKeon
Director not paid by Foundation$0$155,000$0$0$0$0$0$0$0$0$0$155,000$0$0
Jeremy J Wheaton
President & CEO ECMC Group, Inc. not paid by Foundation$0$543,354$0$200,833$0$2,717$0$59,800$0$29,428$0$836,132$0$208
Gregory A Van Guilder
Former CFO not paid by Foundation$0$372,132$0$506,000$0$20,448$0$69,447$0$22,875$0$990,902$0$18,000
Daniel S Fisher
General Counsel/Corp Secretary not paid by Foundation$0$306,273$0$230,949$0$20,974$0$48,099$0$31,006$0$637,301$0$7,413
Martin A Scanlon
CFO & Treasurer not paid by Foundation$0$323,571$0$87,500$0$212,701$0$40,326$0$29,480$0$693,578$0$0
Jennifer E Zeisler
Sr Dir, Program Management$147,558$0$0$0$6,461$0$17,884$0$9,116$0$181,019$0$0$0

Supplemental Information Detail SupplementalInformationDetail (5 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
Schedule J, Part I, Line 1a Tax indemnification and gross-up paymentsCertain 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 compensationAs 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 planECMC - 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 participated in the 457(f) plan, and received employer contributions of $2,400, 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 organizationAs 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 organizationAs 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.

Schedule L IRS990ScheduleL

Bus Tr Involve Interested Prsn BusTrInvolveInterestedPrsnGrp

Name Of Interested NameOfInterested

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1Richard J BoyleBusinessNameLine1Txt
FieldValueIRS element (for citing)
Relationship DescriptionMr. Boyle is a director and president of a company contracted with ECMC Group, Inc., a related org.RelationshipDescriptionTxt
Transaction$40,000TransactionAmt
TransactionSee Description of Transaction in Part VTransactionDesc
Sharing Of RevenuesfalseSharingOfRevenuesInd

Supplemental Information Detail SupplementalInformationDetail

FieldValueIRS element (for citing)
Form And Line ReferenceSchedule L, Part IV, Column (d) Description of TransactionFormAndLineReferenceDesc
ExplanationECMC Group, Inc., a related organization, has a consulting contract with a company owned by a former director and president. For transparency of operation, the contract is reported in this Form 990 filing as ECMC Group, Inc. is the parent and supporting entity of Educational Credit Management Corporation and Zenith Education Group, Inc. and the parent organization of ECMC Foundation. The contract is for advisory services to ECMC Group, Inc. and began after the officer 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.ExplanationTxt

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (16 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
Form 990, Part III, Line 2 New program servicesIn 2018, in furtherance of ECMC Foundation's commitment to create lasting impact for individual students and the education system, ECMC Foundation launched the Education Innovation Ventures (EIV) program, which uses program-related investments to unlock the creative synergy of nonprofit and for-profit sectors and build evidence-based practices. In complement with ECMC Foundation's strategic grantmaking, the EIV program uses a spectrum of program-related investments, including debt and equity instruments, to improve educational and career outcomes among traditionally underserved students and adults.
Form 990, Part III, Line 4d Description of other program services(Expenses $ 6,100,823 including grants of $ 4,534,584)(Revenue $ 0) 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 $ 1,947,345 including grants of $ 1,947,345)(Revenue $ 0) Teacher and Leader Development. Created to invest in teacher and leader development focused on complex intellectual student work, often referred to as deeper learning. The program also focuses on initiatives that build the diversity pipelines into the teaching and school leader professions. Through these investments, ECMC Foundation intends to improve teaching and student academic outcomes as measured by the next generation of standards and assessments. In December 2017, ECMC Foundation made the decision to close out the Teacher and Leader Development program. Funds were directed into the College Success, the Career Readiness and the Education Innovation Ventures programs in 2018. Grants previously awarded under the Teacher and Leader Development program will continue to be issued through January 2020.
Form 990, Part III, Line 4d Description of other program services(Expenses $ 1,385,000 including grants of $ 1,385,000)(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 and expend the grant award for the purpose designated in the recipient's grant proposal. Recipients are eligible to receive awards ranging from $10,000 to $100,000. In 2018, ECMC Foundation awarded 92 grants under the GO! Program.
Form 990, Part VI, Line 13 Whistleblower PolicyECMC 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 Foundation directors, officers, employees and vendors.
Form 990, Part VI, Line 6 Classes of members or stockholdersECMC 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 bodyECMC 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 stockholdersECMC 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 bodyAll 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 policyOfficers, directors and all employees are required to reaffirm on an annual basis their understanding of the company's Code of Ethics and Business Conduct. The affirmation specifically references that the individual will comply with the directives of the Code of Ethics and Business Conduct. Conflicts of Interest and disclosure of potential conflicts 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 where they may have a conflict of interest.
Form 990, Part VI, Line 15a Process to establish compensation of top management officialAs 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 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 employeesAs 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 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 publicThe 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' CompensationECMC 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. Robert A. Stein and Roberta Cooper Ramo, former Directors, had consulting agreements in 2018.
Form 990, Part X, Line 12 Investments-Other SecuritiesInvestments-other securities of $713,069,586 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 $188,879,853 in alternative investments and $5,773,200 in mission-related direct investments. ECMC Foundation has no unfunded commitments to the Apportioned Investment Pool at December 31, 2018.
Form 990, Part XI, Line 5 Net unrealized loss on investmentsNet unrealized loss on investment in the ECMC Group, Inc. apportioned investment pool are $20,717,445.

Schedule R IRS990ScheduleR

Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp (5 entries)

Address Line1USAddress/AddressLine1TxtAddress Line2USAddress/AddressLine2TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdEINEINPrimary ActivitiesPrimaryActivitiesTxtLegal Domicile StateLegalDomicileStateCdExempt Code SectionExemptCodeSectionTxtPublic Charity StatusPublicCharityStatusTxtBusiness Name Line1DirectControllingEntityName/BusinessNameLine1TxtControlled OrganizationControlledOrganizationInd
Educational Credit Management Corporation
111 Washington Ave SoSte 1400MinneapolisMN55401411778617GuarantorMN501(c)(3)10ECMC Group Incfalse
ECMC Group Inc
111 Washington Ave SoSte 1400MinneapolisMN55401411991995Education FinanceDE501(c)(3)Type IINAfalse
Zenith Education Group Inc
111 Washington Ave SoSte 1400MinneapolisMN55401472237488Career CollegesDE501(c)(3)2ECMC Group Incfalse
ECMC Revenue Management Corporation
111 Washington Ave SoSte 1400MinneapolisMN55401831761663Student Loan Default ResolutionDEEducational Credit Management Corporationfalse
ECMC Services Inc
111 Washington Ave SoSte 1400MinneapolisMN55401831763915Student Loan Repayment ServicesDE501(c)(3)10Educational Credit Management Corporationfalse

Id Related Org Txbl Corp Tr IdRelatedOrgTxblCorpTrGrp (7 entries)

Address Line1USAddress/AddressLine1TxtAddress Line2USAddress/AddressLine2TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdEINEINPrimary ActivitiesPrimaryActivitiesTxtLegal Domicile StateLegalDomicileStateCdBusiness Name Line1DirectControllingEntityName/BusinessNameLine1TxtEntity TypeEntityTypeTxtControlled OrganizationControlledOrganizationInd
OAKDALE INVESTMENT MANAGEMENT CORPORATION
111 Washington Ave SoSte 1400MinneapolisMN55401352085743HOLDING INVESTMENTSDEECMC GROUP INCC Corporationfalse
ECMC HOLDINGS CORPORATION
111 Washington Ave SoSte 1400MinneapolisMN55401411991992STRATEGIC OVERSIGHTDEECMC GROUP INCC Corporationfalse
EDUCATIONAL CREDIT SERVICES CO
111 Washington Ave SoSte 1400MinneapolisMN55401411992001PRIVATE LOANSDENAC Corporationfalse
ECMC RECORDS & REC MGMT CORPORATION
111 Washington Ave SoSte 1400MinneapolisMN55401411989959DOCUMENT MANAGEMENTDENAC Corporationfalse
ECMC MANAGEMENT SERVICES CORPORATION
111 Washington Ave SoSte 1400MinneapolisMN55401411989960MANAGEMENT SERVICESDENAC Corporationfalse
ECMC TECHNOLOGY SERVICES CORPORATION
111 Washington Ave SoSte 1400MinneapolisMN55401411989958TECHNOLOGY SERVICESDENAC Corporationfalse
ECMC Servicing Corporation
10370 Peter A McCuen BlvdMatherCA95655471154366Loan ServicingDENAC Corporationfalse
FieldValueIRS element (for citing)
Receipt Of Int Annts Rnts RyltsfalseReceiptOfIntAnntsRntsRyltsInd
Gift Grnt Or Cap Contri To Oth OrgYes (true)GiftGrntOrCapContriToOthOrgInd
Gift Grnt Cap Contri From Oth OrgfalseGiftGrntCapContriFromOthOrgInd
Loans Or Guarantees To Other OrgfalseLoansOrGuaranteesToOtherOrgInd
Loans Or Guarantees From Oth OrgfalseLoansOrGuaranteesFromOthOrgInd
Div Related OrganizationfalseDivRelatedOrganizationInd
Asset Sale To Other OrgfalseAssetSaleToOtherOrgInd
Asset Purchase From Other OrgfalseAssetPurchaseFromOtherOrgInd
Asset ExchangefalseAssetExchangeInd
Rental Of Facilities To Oth OrgfalseRentalOfFacilitiesToOthOrgInd
Rental Of Fclts From Oth OrgfalseRentalOfFcltsFromOthOrgInd
Perform Of Services For Oth OrgfalsePerformOfServicesForOthOrgInd
Perform Of Services By Other OrgfalsePerformOfServicesByOtherOrgInd
Sharing Of FacilitiesYes (true)SharingOfFacilitiesInd
Paid Employees SharingYes (true)PaidEmployeesSharingInd
Reimbursement Paid To Other OrgYes (true)ReimbursementPaidToOtherOrgInd
Reimbursement Paid By Other OrgfalseReimbursementPaidByOtherOrgInd
Transfer To Other OrgfalseTransferToOtherOrgInd
Transfer From Other OrgfalseTransferFromOtherOrgInd

Supplemental Information Detail SupplementalInformationDetail (6 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
Schedule R, Part V, Line 1n SHARING OF FACILITIES, EQUIPMENT, OR OTHER ASSETS WITH RELATED ORG(S)$480,644 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$757,312 REIMBURSEMENT PAID TO ECMC GROUP, INC. FOR EXPENSES.
Schedule R, Part I Disregarded Entities of Related Organizations1(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. 4(a)-Name. Premiere Credit of North America, LLC (35-2085743), 2002 Wellesley Blvd, #100, Indianapolis, IN 46219. 4(b)-Primary activity. Accounts Receivable Management. 4(c)-Legal domicile. IN. 4(f)-Direct controlling entity. ECMC Holdings Corporation. 5(a)-Name. Healthcare Billing Administrators, LLC (81-4038009), 2002 Wellesley Blvd, #100, Indianapolis, IN 46219. 5(b)-Primary activity. Provider of Contingent Collections in the Healthcare Provider Market. 5(c)-Legal domicile. IN. 5(f)-Direct controlling entity. Premiere Credit of North America, LLC.
Schedule R, Part V, Line 1b Gift, grant, or capital contribution to related organization(s)$6,566,800 grants awarded by ECMC Foundation to 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)$179,015 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)$2,597,587 grants 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.

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