2016-11-14T13:00:44-06:00 2015-12-31 390859910 Baker Tilly Virchow Krause LLP 225 South 6th Street Suite 2300 Minneapolis MN 55402 990 2015-01-01 411990628 ECMC Foundation ECMC 6512210566 111 Washington Avenue South 1400 Minneapolis MN 55401 Gregory Van Guilder CFO 2016-11-10 true Lawrence H Mohr CPA P00447603 6128764500 2015 2017-02-10 21:41:12Z Peter Taylor 111 Washington Avenue South Minneapolis MN 55401 115486032 false X www.ecmcfoundation.org X 2000 DE ECMC Foundation is a grantmaking foundation focused on improving the educational outcome of underserved youth through evidence-based innovation. 9 8 16 0 0 0 151100000 115479049 0 233024 6983 0 151333024 115486032 788141 14357603 0 1594482 1418779 0 0 1097253 1566494 3479876 17342876 147853148 98143156 267688474 365977174 1199285 7075548 266489189 358901626 X To inspire and to facilitate improvements that affect educational outcomes - especially among underserved populations - through evidence-based innovation. true true 6475761 6475761 0 Career 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 high-quality credentials-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. 3497000 3497000 0 College Readiness and Retention. 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 will fund 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 will also support 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. 2744958 2744958 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 will focus 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. 1309924 1309924 0 GO! Program. Generating Outcomes (GO!): Funding education innovation in our communities is an ECMC Foundation corporate initiative to fund ideas and partnerships that can be examined for effectiveness in our local communities. To qualify for payment of a GO! Program grant, the awarded recipient must be a third-party non-profit 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 2015, ECMC Foundation awarded 21 grants under the GO! Program. 479107 329960 0 Other programs. Miscellaneous programs and activities for the furtherance of educational opportunities through grants, awards and research on the management of educational debt. 1789031 1639884 14506750 true true false false false false false false false false true true false false true true true true false false false false false false false false false true true true false false false false false false false true true false false false false true false false false true 13 0 16 true false false false false false false false false false false X 9 8 false false false false true true true true true false false true true true true true true true true false CA NM OR MN X X Gregory Van Guilder 6512210566 111 Washington Avenue S Suite 1400 Minneapolis MN 55401 PETER TAYLOR President & Director 41.0 0.0 X X 461040 0 68387 DAVID HAWN Group CEO & Director Not Paid by Foundation 0.0 61.0 X 0 1018467 101323 JOHN DEPODESTA Board Chair not paid by Foundation 1.0 20.0 X 0 189638 0 GARY COOK DIRECTOR NOT PAID BY FOUNDATION 1.0 10.0 X 0 140388 0 Julia Gouw Director not paid by Foundation 1.0 6.0 X 0 54000 0 I KING JORDAN DIRECTOR NOT PAID BY FOUNDATION 1.0 7.0 X 0 105000 0 JAMES MCKEON DIRECTOR NOT PAID BY FOUNDATION 1.0 14.0 X 0 160000 0 JACK O'CONNELL DIRECTOR NOT PAID BY FOUNDATION 1.0 9.0 X 0 102500 0 ROBERTA COOPER RAMO DIRECTOR NOT PAID BY FOUNDATION 2.0 12.0 X 0 124250 0 MAURICE SALTER DIRECTOR NOT PAID BY FOUNDATION 1.0 12.0 X 0 130496 0 GREGORY VAN GUILDER CFO NOT PAID BY FOUNDATION 0.0 57.0 X 0 884417 92437 DANIEL FISHER SECRETARY/GENERAL COUNSEL NOT PAID BY FOUNDATION 0.0 54.0 X 0 591979 70788 MARCH KESSLER EXECUTIVE DIRECTOR 5.0 38.0 X 22208 171194 32022 VICKI WHEBBE Mgr Student Success & Training 5.0 37.0 X 35121 86900 29547 ALISSA BINNER Executive Assistant - LA Office 44.0 0 X 100070 0 20423 ROBERT STEIN Former Director not paid by Foundation 0.0 0.0 X 0 50000 0 RICHARD BOYLE Former DIRECTOR/CEO/PRESIDENT NOT PAID BY FOUNDATION 0.0 0.0 X 0 17422 0 618438 3826651 414926 8 true true false 0 115479049 100000000 115479049 0 0 0 0 0 6983 6983 0 0 0 0 0 0 0 0 0 115486032 0 0 6983 14352043 14352043 5560 5560 848204 54230 793974 456373 17026 439347 37967 509 37458 49393 14778 34615 26842 3521 23321 171 7 164 28195 18 28177 316059 0 316059 801676 15680 785996 0 74177 2952 71225 6133 347 5786 101139 15167 85972 117893 4663 113230 31618 15798 15820 62741 3298 59443 25346 1153 24193 Miscellaneous Expense 1346 0 1346 0 0 0 0 17342876 14506750 2836126 0 1396808 12655239 6410000 0 700 0 0 0 0 0 9005 273689 12627 0 261062 259789618 353051168 0 0 0 92048 0 267688474 365977174 340567 279086 837247 6471473 21471 324989 1199285 7075548 X 259452970 358901626 7036219 266489189 358901626 267688474 365977174 X 98143156 1299500 -7030219 X false true X true false X X 2 EDUCATIONAL CREDIT Management Corporation 411778617 9 true 13451065 0 Zenith Education Group Inc 472237488 2 true 3891811 0 2 17342876 0 true false false false true true false false false false false false false false false false true Schedule A, Part IV, Section A, Line 5a Added, Substituted, or Removed Sup. Org. ZENITH EDUCATION GROUP, INC., A 501(C)(3) ORGANIZATION (FEIN 47-2237488) PROVIDING POSTSECONDARY CAREER EDUCATION INSTRUCTION AND SERVICES, WAS added as a supporting organization to ECMC Foundation organizing documents on July 22, 2015. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 273689 12627 261062 261062 Investment in ECMC Group Investment Pool 353051168 F 353051168 Due To ECMC Group, Inc. Due To Educational Credit Management Corporation 324989 324989 X 116785532 1299500 0 1299500 115486032 0 0 115486032 17342876 0 0 17342876 0 0 17342876 Schedule D, Part XI, Line 2(a) Net unrealized losses on investments Net unrealized losses on investment in the ECMC Group, Inc. investment pool are $1,299,500. Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote The FIN 48 (ASC 470) disclosure in the ECMC Foundation financial statements reads as follows: "The Internal Revenue Service has determined that ECMC Foundation is exempt from federal income tax under Section 501(c)(3) of the Internal Revenue Code. ECMC Foundation is also exempt from state income tax. However, any unrelated business income may be subject to taxation. ECMC Foundation follows the accounting standards for contingencies 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, 2015 or 2014. ECMC Foundation's tax returns are subject to review and examination by federal and state authorities. The tax returns for the current year, as well as fiscal years 2012 through 2014, are open to examination by federal and state authorities." true WESTERN OREGON UNIVERSITY 345 MONMOUTH AVE N MONMOUTH OR 97361 472887845 State School 25000 Education Grant ZENITH EDUCATION GROUP INC 111 Washington Avenue South Suite 1400 Minneapolis MN 55401 472237488 501(c)(3) 3891811 Mission / Campaign for Innovation URBAN VENTURES 2924 4TH AVE SOUTH MINNEAPOLIS MN 55408 363558710 501(c)(3) 30000 General Support UNIVERSITY OF NEW MEXICO 1 UNIVERSITY OF NEW MEXICO ALBUQUERQUE NM 87131 856000642 501(c)(3) 1303758 Teacher Training/Development and Education Grant UNITED WAY OF GREATER LOS ANGELES 1150 SOUTH OLIVE STREET SUITE T500 LOS ANGELES CA 90015 952274801 501(c)(3) 20000 General Support UASPIRE INC 31 MILK STREET SUITE 900 BOSTON MA 02109 461314848 501(c)(3) 450000 College Readiness UNIVERSITY OF CALIFORNIA IRVINE UNIVERSITY OF CA IRVINE - CDT 220 SB2 BUILDING 221 IRVINE CA 92697 952226406 501(c)(3) 32450 Education Grant THE UCLA FOUNDATION 10920 WILSHIRE BLVD SUITE 1100 LOS ANGELES CA 90024 956006143 501(c)(3) 45000 Program Support & Sponsorship THE BIG PICTURE COMPANY 325 PUBLIC STREET PROVIDENCE RI 02905 050485883 501(c)(3) 1392600 Teacher Training / Development SOCIAL JUSTICE LEARNING INSTITUTE 600 CENTINELA AVENUE INGLEWOOD CA 903022412 263413373 501(c)(3) 10000 College Readiness SCHOOL ON WHEELS INC 83 SOUTH PALM STREET VENTURA CA 93001 954422640 501(c)(3) 10000 Education Grant PARKINSON'S DISEASE FOUNDATION INC 1359 BROADWAY ST SUITE 1509 NEW YORK NY 10018 131866796 501(c)(3) 30000 General Support NATIONAL COLLEGE ADVISING CORP INC 301 W BARBEE CHAPEL RD SUITE 210 CHAPEL HILL NC 27517 461192687 501(c)(3) 400000 College Readiness ILISAGVIK COLLEGE 21 DRYDOCK AVE PO BOX 749 BARROW AK 99723 920158414 501(c)(3) 32000 Career Readiness MANAGEMENT LEADERSHIP FOR TOMORROW 5335 WISCONSIN AVE NW SUITE 805 WASHINGTON DC 20015 521795164 501(c)(3) 500000 College Retention JOBS FOR THE FUTURE INC 88 BROAD STREET 8TH FLOOR BOSTON MA 02110 061164568 501(c)(3) 950000 Career Readiness JOBS FOR AMERICA'S GRADUATES INC 1729 KING STREET SUITE 100 ALEXANDRIA VA 22314 521194546 501(c)(3) 10000 Sponsorships IMPERIAL COUNTY OFFICE OF EDUCATION 1398 SPERBER ROAD EL CENTRO CA 92243 956001665 School District 10000 Program Support IMPACT TEEN DRIVERS FUND 2030 V STREET SACRAMENTO CA 95818 260595165 501(c)(3) 10000 Program Support IMENTOR INCORPORATED 30 BROAD STREET 9TH FLOOR NEW YORK NY 10004 300105507 501(c)(3) 450000 College Readiness I HAVE A DREAM FOUNDATION 3580 WILSHIRE BLVD STE 720 LOS ANGELES CA 90010 954089758 501(c)(3) 10000 General Support GUILFORD COLLEGE 5800 WEST FRIENDLY AVE GREENSBORO NC 27410 560529982 501(c)(3) 15000 General Support GEORGIA STATE UNIVERSITY FOUNDATION INC 1 PARK PLACE SUITE 533 ATLANTA GA 30303 586033185 501(c)(3) 250000 College Retention COLLEGE UNBOUND 325 PUBLIC STREET PROVIDENCE RI 02905 462470807 501(c)(3) 819500 Career Readiness COLLEGE POSSIBLE INC 540 FAIRVIEW AVENUE NORTH SUITE 304 SAINT PAUL MN 55104 411968798 501(c)(3) 400000 College Readiness CENTREVILLE LAYTON SCHOOL INC 6201 KENNETT PIKE CENTREVILLE DE 19807 510232858 501(c)(3) 15000 Education Grant CALIFORNIA COMMUNITY FOUNDATION 221 S FIGUEROA STREET SUITE 400 LOS ANGELES CA 90012 953510055 501(c)(3) 25000 College Readiness BUTTE COUNTY OFFICE OF EDUCATION 1859 BIRD STREET OROVILLE CA 95965 946002433 Government 10000 Program Support BAKER UNIVERSITY PO BOX 65 BALDWIN CITY KS 66006 480543766 School 15000 General Support AVENUES FOR HOMELESS YOUTH 1708 OAK PARK AVE N MINNEAPOLIS MN 55411 411765140 501(c)(3) 50000 Education Support LEAD Public Schools 531 METROPLEX DR SUITE A-200 NASHVILLE TN 37211 202526508 501(c)(3) 75000 Financial support for school MAPLEWOOD MIDDLE SCHOOL 2410 HOLLOWAY AVE MAPLEWOOD MN 55109 208013218 Middle School 122500 Financial support for school NEIGHBORHOOD HOUSE 179 ROBIE STREET EAST ST PAUL MN 55107 410693916 501(c)(3) 100000 Program support NORTHSIDE ACHIEVEMENT ZONE 2123 W BROADWAY SUITE 100 MINNEAPOLIS MN 55411 300238807 501(c)(3) 34000 Sponsorships MINDS MATTER 4912 WASHBURN AVE SOUTH MINNEAPOLIS MN 55410 455415388 501(c)(3) 50000 Program Support PACER CENTER 8161 NORMANDALE BLVD MINNEAPOLIS MN 55437 411306304 501(c)(3) 70000 Program Support CRISTO REY JESUIT HS 2924 FOURTH AVE SOUTH MINNEAPOLIS MN 55408 204548714 501(c)(3) 100000 Program Support GREEN TECHNICAL EDUCATION AND EMPLOYMENT 7485 RUSH RIVER DRIVE STE 710-152 SACRAMENTO CA 95831 270595012 501(c)(3) 89000 Sponsorships GIRLS INC OF GREATER INDIANAPOLIS 3935 NORTH MERIDIAN STREET INDIANAPOLIS IN 46208 351337205 501(c)(3) 50000 Program Support AFTERCARE FOR INDIANA THROUGH MENTORING INC 4155 BOULEVARD PLACE INDIANAPOLIS IN 46208 454047222 501(c)(3) 39750 Sponsorships UNITED WAY OF CENTRAL INDIANA 3901 N MERIDIAN ST INDIANAPOLIS IN 46208 351007590 501(c)(3) 50000 Sponsorships GENESEE VALLEY EDUCATIONAL PARTNERSHIP BOARD OF COOPERATIVE EDU Svcs 80 MUNSON ST LEROY NY 14482 166009847 501(c)(3) 100000 Education Support GENESEE GATEWAY LOCAL DEVELOPMENT CORPORATION 99 MEDTECH DRIVE SUITE 106 BATAVIA NY 14020 331101375 501(c)(3) 13324 Program Support WESTERN NEW YORK TECH ACADEMY 6917 WEST BERGEN RD BERGEN NY 14416 166002858 School 61710 Program Support SUNY GENESEE COMMUNITY COLLEGE ONE COLLEGE ROAD BATAVIA NY 14020 160920402 School 44390 Education Support SCHOOLS ON WHEELS 2605 E 62ND STREET SUITE 2005 INDIANAPOLIS IN 46220 352151003 501(c)(3) 50000 Education Support YMCA OF GREATER INDIANAPOLIS 615 N ALABAMA ST SUITE 200 INDIANAPOLIS IN 46204 350868211 501(c)(3) 60250 Education Support WO SMITH MUSIC SCHOOL 1125 8th Ave S Nashville TN 37203 581560499 501(c)(3) 25000 Education Support MILLS MIDDLE SCHOOL 10439 COLOMA ROAD RANCHO CORDOVA CA 95670 941706902 Middle School 100000 Financial Support for School TC WILLIAMS INTERNATIONAL ACADEMY 1340 Braddock Place Alexandria VA 22314 546001106 School 25000 Education Grant THE ASPEN INSTITUTE 1 DUPONT CIRCLE NW SUITE 700 WASHINGTON DC 20036 840399006 501(c)(3) 275000 Career Readiness FLATIRON SCHOOL 11 Broadway Suite 260 NEW YORK NY 10004 School 475000 Career Readiness UNIVERSITY OF CALIFORNIA RIVERSIDE 900 UNIVERSITY AVENUE STUDENT SERVICES BLDG ROOM 1111 RIVERSIDE CA 92521 237433570 501(c)(3) 276000 College Readiness FOUNDATION FOR CALIFORNIA COMMUNITY COLLEGES 1102 Q STREET SUITE 3500 SACRAMENTO CA 95811 680412350 501(c)(3) 300000 College Readiness UNIVERSITY OF CALIFORNIA LOS ANGELES 2221 Murphy Hall Box 951421 LOS ANGELES CA 90095 956006143 501(c)(3) 296000 College Retention UNIVERSITY OF NEW MEXICO Foundation 1 UNIVERSITY OF NEW MEXICO ALBUQUERQUE NM 87131 856000642 501(c)(3) 125000 College Retention VOLUNTEERS OF AMERICA 3434 MARCONI AVENUE SACRAMENTO CA 95821 946001984 501(c)(3) 25000 Education Grant TEACHERSCONNECT 31 St James Avenue Suite 920 BOSTON MA 02116 270382989 501(c)(3) 75000 Teacher Training / Development 58 0 ECMC SCHOLARS SCHOLARSHIPS 21 6000 Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. Helping low-income students pursue higher education is core to ECMC Foundation's mission. ECMC Foundation closely monitors the use of the cash grants to 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. ECMC Foundation 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. X true true X X X X true true false false true false true false false PETER TAYLOR President & Director 411580 0 46766 0 2693 0 43656 0 24731 0 529426 0 0 0 ROBERT STEIN Former Director not paid by Foundation 0 50000 0 0 0 0 0 0 0 0 0 50000 0 0 RICHARD BOYLE Former DIRECTOR/CEO/PRESIDENT NOT PAID BY FOUNDATION 0 0 0 0 0 17422 0 0 0 0 0 17422 0 0 DAVID HAWN Group CEO & Director Not Paid by Foundation 0 548250 0 467515 0 2702 0 76272 0 25051 0 1119790 0 13573 JOHN DEPODESTA Board Chair not paid by Foundation 0 189638 0 0 0 0 0 0 0 0 0 189638 0 0 JAMES MCKEON DIRECTOR NOT PAID BY FOUNDATION 0 160000 0 0 0 0 0 0 0 0 0 160000 0 0 GREGORY VAN GUILDER CFO NOT PAID BY FOUNDATION 0 441002 0 441938 0 1477 0 67331 0 25106 0 976854 0 0 DANIEL FISHER SECRETARY/GENERAL COUNSEL NOT PAID BY FOUNDATION 0 300256 0 287874 0 3849 0 50852 0 19936 0 662768 0 0 MARCH KESSLER EXECUTIVE DIRECTOR 22035 126363 0 43601 174 1229 1341 21984 924 7773 24473 200951 0 0 VICKI WHEBBE Mgr Student Success & Training 15071 86324 19965 108 85 468 2119 12716 1849 12863 39089 112479 0 0 Schedule J, Part I, Line 1a Tax indemnification and gross-up payments Certain taxable benefits are grossed up to make the employee whole. This has been approved by the board of directors. Schedule J, Part I, Line 3 Arrangement used to establish the top management official's compensation As noted in Part VII of Form 990 and Schedule J, Part II, the only Executive Officer compensated by ECMC Foundation was the President, Peter Taylor. All other Executive Officers' compensation was paid by related organizations. Schedule J, Part I, Line 4a Severance or change-of-control payment The following received a severance payment in 2015: Richard Thompson - $39,405. Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan ECMC Group, Inc. maintains a supplemental nonqualified retirement plan described in section 457(f) to attract and retain employees, typically in management positions. In 2015, David Hawn, Gregory Van Guilder and Daniel Fisher participated in the plan, and received employer contributions of $ 26,472, $17,531 and $1,052, respectively. Schedule J, Part I, Line 5b Compensation contigent on revenues of a related organization As noted in Part VII of Form 990 and Schedule J, Part II, the only executive officer compensated by ECMC Foundation was the President, Peter 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 contigent on net earnings of a related organization As noted in Part VII of Form 990 and Schedule J, Part II, the only executive officer compensated by ECMC Foundation was the President, Peter 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. Richard Boyle Mr. Boyle is a director and president of a company contracted with ECMC Group, Inc., a related org. 385000 See Description of Transaction in Part V false Schedule L, Part IV, Column (d) Description of Transaction ECMC 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. X Investment-Fractional interest 1 100000000 Market value 0 false false false Schedule M, Part I, Line 25 Investment-Fractional interest Participation in the investment pool is available to ECMC Group, Inc. and its eligible subsidiaries. Investments in ECMC Group, Inc. 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 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. Investments are recorded at estimated fair value, using the practical expedient. The practical expedient allows for the use of a proportionate share of the investment pool to be utilized to estimate fair value. The investment strategy of the pooled funds of ECMC Group, Inc. is to diversify risk and provide a return that satisfies the short- and long-term objectives of ECMC Foundation. Schedule M, Part I Explanations of reporting method for number of contributions Other: The number reported in Part I, Line 25, Column (b) is based on the number of contributions received. Form 990, Part III, Line 2 New program services ECMC Foundation is a supporting organization of Educational Credit Management Corporation, and beginning in 2015, of Zenith Education Group, Inc.. Consistent with its mission and values, ECMC Foundation's grantmaking strategy is to focus on teacher development, college readiness and retention, and career readiness in the context of improving the educational outcomes of underserved populations. Form 990, Part III, Line 3 Significant changes in program services On February 9, 2015, ECMC Foundation transferred its direct operational services which support educators and youth to Educational Credit Management Corporation (ECMC), a related party. The programs, ECMC Scholars Program, The College Place resource centers, and the curriculum guides and training programs, complement ECMC's college access and financial literacy programs. The transfer has enabled ECMC Foundation to focus its philanthropic initiatives on the new grantmaking priorities on teacher development, college readiness and retention, and career readiness. Form 990, Part III, Line 4d Description of other program services (Expenses $ 1,309,924 including grants of $ 1,309,924)(Revenue $ 0) GO! Program. Generating Outcomes (GO!): Funding education innovation in our communities is an ECMC Foundation corporate initiative to fund ideas and partnerships that can be examined for effectiveness in our local communities. To qualify for payment of a GO! Program grant, the awarded recipient must be a third-party non-profit 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 2015, ECMC Foundation awarded 21 grants under the GO! Program. Form 990, Part III, Line 4d Description of other program services (Expenses $ 479,107 including grants of $ 329,960)(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 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, DIRECTORS, AND EMPLOYEES. WHILE THERE IS NOT A SPECIFIC WHISTLEBLOWER POLICY, THERE IS A PROVISION INCORPORATED INTO THE CODE OF ETHICS AND BUSINESS CONDUCT POLICY THAT BINDS ALL EMPLOYEES. THE PROVISION STATES THAT THERE CAN BE NO REPERCUSSIONS FOR GOOD FAITH REPORTING OF POTENTIAL ILLEGAL PRACTICES OR VIOLATIONS OF CORPORATE POLICIES. ECMC FOUNDATION HAS ESTABLISHED AN ANONYMOUS WHISTLEBLOWER TELEPHONE HOTLINE AND WEBSITE ADMINISTERED BY AN OUTSIDE VENDOR. Form 990, Part VI, Line 6 Classes of members or stockholders ECMC Foundation has one member. The member is ECMC Group, Inc. a Delaware, non-stock, non-profit corporation exempt under section 501(c)(3). There are no stockholders. Form 990, Part VI, Line 7a Members or stockholders electing members of governing body ECMC Group, Inc. has the right to elect and/or approve all the directors of the ECMC Foundation Board of Directors. Form 990, Part VI, Line 7b Decisions requiring approval by members or stockholders ECMC Group, Inc., the sole member of ECMC Foundation, retains the following authority over ECMC Foundation: 1. To authorize amendments to the Articles of Incorporation and Bylaws. 2. To approve the strategic and financial plans. 3. To elect and/or approve the members of the Board of Directors. 4. To oversee coordination of programs and services offered. 5. To authorize formation, governance and dissolution. Form 990, Part VI, Line 11b Review of form 990 by governing body All members of the Board of Directors and executive management are provided a copy of Form 990 to review and provide comments prior to filing. All members of the Board of Directors and executive management are provided with a copy of the final version of Form 990 before it has been filed. Form 990, Part VI, Line 12c Conflict of interest policy Officers, directors and all employees are required to reaffirm on an annual basis their understanding of the company's Code of Ethics and Business Conduct. The affirmation specifically references that the individual will comply with the directives of the Code of Ethics and Business Conduct. Conflicts of Interest and disclosure of potential conflicts is included in the Code of Ethics and Business Conduct. Monitoring and enforcement of the policy is accomplished through the reaffirmation process. In cases where a potential conflict exists at the officer and key employee levels, the issue is disclosed to the CEO and Director of Corporate Compliance. For potential or real conflicts involving the CEO or a member of the Board of Directors, the disclosure is made to the Board 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 official As noted in Part VII of Form 990 and Schedule J, Part II, the only executive officer compensated by ECMC Foundation was the President, Peter 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 2015, 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 a written 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 As noted in Part VII of Form 990 and Schedule J, Part II, the only executive officer compensated by ECMC Foundation was the President, Peter 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 2015, 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 a written 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 The Form 990 is made available to the public on ECMC Foundation's website. Form 990, Part VII, Section A Directors' Compensation ECMC Foundation Directors do not receive compensation for their service associated with ECMC Foundation, but do receive compensation for their service provided to related organizations-ECMC and ECMC Group, Inc. With the exception of the President, Peter 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 Stein, a former Director, had a consulting agreement in 2015. Form 990, Part X, Line 12 Investments-Other Securities Investments-other securities of $353,051,168 are held in the ECMC Group, Inc. Investment Pool. Investments in ECMC Group, Inc. investment pool represent an ownership interest in the investment pool managed by ECMC Group, 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 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 the pooled funds of ECMC Group, Inc. is to diversify risk and provide a return that satisfies the short- and long-term objectives of ECMC Foundation. The investment pool has unfunded commitments of $221,045 in alternative investments and $10,523,963 in mission related direct investments. ECMC Foundation has no unfunded commitments to the pool at December 31, 2015. Form 990, Part XI, Line 5 Net unrealized losses on investments Net unrealized losses on investment in the ECMC Group, Inc. investment pool are $1,299,500. Form 990, Part XI, Line 9 Other changes in net assets $7,030,219. On February 9, 2015, ECMC Foundation transferred the outstanding obligation and related temporarily restricted net assets of the ECMC Scholars Program to ECMC. As a result, ECMC Foundation recorded a $7,030,219 transfer of net assets to a related party. The transfer is considered a common control transaction. Accounting guidance required the transfer of assets be recorded on ECMC's books at the carrying value of assets on ECMC Foundation's books. Form 990, Part XI, Line 9 Other changes in net assets or fund balances Transfer of Net Assets - -7030219; EDUCATIONAL CREDIT Management Corporation 111 Washington Avenue South Suite 1400 Minneapolis MN 55401 411778617 GUARANTOR MN 501(c)(3 9 ECMC GROUP INC false ECMC GROUP INC 111 Washington Avenue South Suite 1400 Minneapolis MN 55401 411991995 EDUCATION FINANCE DE 501(c)(3 Type I NA false ZENITH EDUCATION GROUP INC 111 Washington Avenue South Suite 1400 Minneapolis MN 55401 472237488 CAREER COLLEGES DE 501(c)(3 2 ECMC Group Inc false OAKDALE INVESTMENT MANAGEMENT CORPORATION 111 Washington Avenue South Suite 1400 Minneapolis MN 55401 352085743 HOLDING INVESTMENTS DE ECMC GROUP INC C Corporation false ECMC HOLDINGS CORPORATION 111 Washington Avenue South Suite 1400 Minneapolis MN 55401 411991992 STRATEGIC OVERSIGHT DE ECMC GROUP INC C Corporation false EDUCATIONAL CREDIT SERVICES CO 111 Washington Avenue South Suite 1400 Minneapolis MN 55401 411992001 PRIVATE LOANS DE NA C Corporation false ECMC RECORDS & REC MGMT CORPORATION 111 Washington Avenue South Suite 1400 Minneapolis MN 55401 411989959 DOCUMENT MANAGEMENT DE NA C Corporation false ECMC MANAGEMENT SERVICES CORPORATION 111 Washington Avenue South Suite 1400 Minneapolis MN 55401 411989960 MANAGEMENT SERVICES DE NA C Corporation false ECMC TECHNOLOGY SERVICES CORPORATION 111 Washington Avenue South Suite 1400 Minneapolis MN 55401 411989958 TECHNOLOGY SERVICES DE NA C Corporation false ECMC Servicing Corporation 10370 Peter A McCuen Blvd Mather CA 95655 471154366 Loan Servicing DE NA C Corporation false false true true false false false false false false false false false false true true true false true false Schedule R, Part V, Line 1c GIFT, GRANT, OR CAPITAL CONTRIBUTION FROM RELATED ORGANIZATION(S) $115,479,049 CONTRIBUTION MADE BY ECMC GROUP, INC. TO ECMC FOUNDATION TO FUND INNOVATIVE OUTREACH PROGRAMS AND SCHOLARSHIP PROGRAMS TO CONVEY TO STUDENTS THE IMPORTANCE OF COMPLETING HIGH SCHOOL AND TO DEVELOP AND DISTRIBUTE PROGRAMS THAT FOCUS ON ACCESS, RETENTION AND SUCCESS IN HIGHER EDUCATION, THEREBY HELPING LOW-INCOME INDIVIDUALS AS WELL AS THOSE WHO MAY BE THE FIRST IN THEIR FAMILY TO ATTEND COLLEGE FURTHERING THEIR EDUCATION GOALS. Schedule R, Part V, Line 1n SHARING OF FACILITIES, EQUIPMENT, OR OTHER ASSETS WITH RELATED ORG(S) $519,897 ALLOCATED EXPENSES FOR FACILITIES, EQUIPMENT, MAILING LISTS, OR OTHER ASSETS SHARED WITH ECMC GROUP, INC. Schedule R, Part V, Line 1o SHARING OF PAID EMPLOYEES WITH RELATED ORGANIZATION(S) $71,029 ALLOCATED EXPENSES FOR PAID EMPLOYEES SHARED WITH ECMC Group, Inc. Schedule R, Part V, Line 1p REIMBURSEMENT PAID TO RELATED ORGANIZATION(S) FOR EXPENSES $1,002,582 REIMBURSEMENT PAID TO ECMC GROUP, INC. FOR EXPENSES. Schedule R, Part V, Line 1o SHARING OF PAID EMPLOYEES WITH RELATED ORGANIZATION(S) $224,447 ALLOCATED EXPENSES FOR PAID EMPLOYEES SHARED WITH Educational Credit Management Corporation. Schedule R, Part V, Line 1p REIMBURSEMENT PAID TO RELATED ORGANIZATION(S) FOR EXPENSES $480,498 paid to Educational Credit Management Corporation for expenses. Schedule R, Part I Disregarded Entities of Related Organizations 1(a)-Name. Oakdale Student Loan Funding, LLC (27-1914648), 111 Washington Avenue South, Suite 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 Avenue South, Suite 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. Premiere Credit of North America, LLC (35-2085743), 2002 Wellesley Blvd, #100, Indianapolis, IN 46219. 3(b)-Primary activity. Accounts Receivable Management. 3(c)-Legal domicile. IN. 3(f)-Direct controlling entity. ECMC Holdings Corporation. Schedule R, Part V, Line 1b Gift, grant, or capital contribution to related organization(s) $3,891,811 grants awarded by ECMC Foundation to Zenith Education Group, Inc. to provide $2,335,013 for the Zenith Campaign for Innovation which is designed to elicit creative ideas about how to support students' success and $1,556,798 for other 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 1r Other transfer of cash or property to related organization(s) $7,030,219 outstanding obligation for grants under the Scholars Program and the related temporarily restricted net assets were transferred to Educational Credit Management Corporation on February 9, 2015. The College Place and the curriculum guides and training were also transferred to complement Educational Credit Management Corporation's college access and financial literacy programs.