2015-11-12T16:29:57-06:00 2014-12-31 390859910 Baker Tilly Virchow Krause LLP 225 South 6th Street Suite 2300 Minneapolis MN 55402 990 2014-01-01 411990628 ECMC Foundation ECMC 6512210566 1 Imation Place Building 2 Oakdale MN 551283422 Gregory Van Guilder CFO 2015-11-12 true Lawrence H Mohr CPA P00447603 6128764500 2014 2016-02-25 16:41:14Z Peter Taylor 1 Imation Place Building 2 Oakdale MN 551283422 151333024 false X www.ecmcfoundation.org X 2000 DE Throughout 2014, ECMC Foundation helped low-income, first generation students gain access to and succeed in college. ECMC Foundation's innovative outreach programs focused on college access, retention and success. Through partnerships with government agencies, educational institutions and community organizations, ECMC Foundation was able to help make the dream of college a reality for those individuals who may not otherwise have an opportunity to pursue higher education. In late 2014, ECMC Foundation began changing its direction to be a grantmaking foundation focused on improving the educational outcome of underserved youth through evidence-based innovation. In early 2015, ECMC Foundation transferred its outreach programs to Educational Credit Management Corporation, a related entity. ECMC Foundation is funded by ECMC Group, Inc. For more information, visit www.ecmcfoundation.org. 8 7 8 8 0 0 153837971 151100000 0 0 9058 233024 0 0 153847029 151333024 99041236 788141 0 0 1306850 1594482 0 0 0 795128 1097253 101143214 3479876 52703815 147853148 160917555 267688474 50319465 1199285 110598090 266489189 To inspire and to facilitate improvements that affect educational outcomes - especially among underserved populations - through evidence-based innovation. false true 1013432 758155 0 ECMC SCHOLARS PROGRAM: THE ECMC SCHOLARS PROGRAM IS A HIGH SCHOOL MENTORING PROGRAM DESIGNED TO INCREASE PARTICIPATION IN HIGHER EDUCATION FOR LOW-INCOME INDIVIDUALS AS WELL AS FOR THOSE WHO MAY BE THE FIRST MEMBER OF THEIR FAMILY TO HAVE AN OPPORTUNITY TO ATTEND COLLEGE. THE PROGRAM CHALLENGES THESE STUDENTS TO BETTER PREPARE FOR HIGHER EDUCATION DURING THEIR JUNIOR AND SENIOR YEARS OF HIGH SCHOOL. TO DATE, ECMC FOUNDATION HAS PLEDGED over $15.2 million IN SCHOLARSHIPS TO help more than 2,500 STUDENTS IN THIS PROGRAM. THE STUDENTS ARE AWARDED $4,000 FOR THEIR FIRST YEAR OF COLLEGE AND $2,000 FOR THEIR SECOND YEAR OF COLLEGE. 810432 4986 0 THE COLLEGE PLACE: THE COLLEGE PLACE WORKS TO HELP INDIVIDUALS OF ALL AGES PURSUE OPPORTUNITIES FOR HIGHER EDUCATION. THE COLLEGE PLACE PROVIDES FREE ASSISTANCE AND RESOURCES ABOUT SCHOOLS, THE COST OF EDUCATION, FINANCIAL AID AND ADMISSIONS. SERVICES ARE PROVIDED IN ONE-ON-ONE MEETINGS, GROUP SETTINGS, IN WORKSHOPS AND EVENTS, OR BY TELEPHONE AND THROUGH EMAIL. THERE ARE CURRENTLY FIVE COLLEGE ACCESS CENTERS-TWO CENTERS IN VIRGINIA AND ONE CENTER EACH IN OREGON, CONNECTICUT AND CALIFORNIA. IN 2014, 18,781 PEOPLE WERE ASSISTED IN THE CENTERS. 226088 0 0 BELIEVING THE COLLEGE DREAM, REALIZING THE COLLEGE DREAM AND PERSIST. BELIEVING THE COLLEGE DREAM, REALIZING THE COLLEGE DREAM AND PERSIST ARE CURRICULUM GUIDES. BELIEVING THE COLLEGE DREAM: BELIEVING THE COLLEGE DREAM IS A CURRICULUM GUIDE THAT SUPPORTS TEACHERS, COUNSELORS AND COMMUNITY-BASED ORGANIZATION STAFFS IN THEIR WORK TO INCREASE THE EXPECTATIONS OF ATTENDING COLLEGE BY STUDENTS IN GRADES 4-8. THE CURRICULUM HAS A FOCUS ON LOW-INCOME STUDENTS AS WELL AS THOSE STUDENTS WHO MAY BE THE FIRST MEMBER OF THEIR FAMILY TO HAVE AN OPPORTUNITY TO ATTEND COLLEGE. THE CURRICULUM IS FREE. IT IS DISTRIBUTED NATIONALLY AND has been DOWNLOADED MORE THAN 1,200 TIMES FROM THE ECMC FOUNDATION WEBSITE; THEREBY, REACHING UNTOLD NUMBERS OF STUDENTS AS EXPOSURE TO THE CURRICULUM CASCADES THROUGH THE EDUCATION COMMUNITY. ECMC FOUNDATION SPONSORED one TRAINING SESSION DURING 2014 IN WHICH 125 EDUCATION PROFESSIONALS WERE TRAINED TO USE THE CURRICULUM. REALIZING THE COLLEGE DREAM: REALIZING THE COLLEGE DREAM IS A CURRICULUM GUIDE THAT SUPPORTS TEACHERS, COUNSELORS AND COMMUNITY-BASED ORGANIZATION STAFFS IN THEIR WORK TO INCREASE THE EXPECTATIONS OF ATTENDING COLLEGE BY HIGH SCHOOL STUDENTS. THE CURRICULUM HAS A FOCUS ON LOW-INCOME STUDENTS AS WELL AS THOSE STUDENTS WHO MAY BE THE FIRST MEMBER OF THEIR FAMILY TO HAVE AN OPPORTUNITY TO ATTEND COLLEGE. THE CURRICULUM IS FREE. IT IS DISTRIBUTED NATIONALLY AND has been DOWNLOADED MORE THAN 1,200 TIMES FROM THE ECMC FOUNDATION WEBSITE; THEREBY, REACHING UNTOLD NUMBERS OF STUDENTS AS EXPOSURE TO THE CURRICULUM CASCADES THROUGH THE EDUCATION COMMUNITY. ACCORDING TO A USAGE STUDY CONDUCTED BY THE PELL INSTITUTE, THE MATERIALS COULD POTENTIALLY BE HAVING AN EFFECT ON THE LIVES OF HUNDREDS OF THOUSANDS OF STUDENTS. ECMC FOUNDATION SPONSORED one TRAINING SESSION DURING 2014 IN WHICH 110 EDUCATION PROFESSIONALS WERE TRAINED. PERSIST: PERSIST IS A GUIDE FOR POSTSECONDARY EDUCATIONS TO HELP AT-RISK STUDENTS SUCCESSFULLY NAVIGATE THE VARIED ASPECTS OF THE COLLEGE EXPERIENCE. THIS GUIDE INCLUDES TOOLS TO HELP TO INCREASE THE SUCCESS RATES OF THOSE COLLEGE STUDENTS MOST AT RISK FOR DROPPING OUT: FIRST GENERATION COLLEGE STUDENTS, THOSE FROM LOW-INCOME FAMILIES, COMMUTER STUDENTS AND NONTRADITIONAL AGE STUDENTS. THE GUIDE has been DOWNLOADED MORE THAN 1,000 TIMES FROM THE ECMC FOUNDATION WEBSITE; THEREBY, REACHING UNTOLD NUMBERS OF STUDENTS AS EXPOSURE TO THE CURRICULUM CASCADES THROUGH THE EDUCATION COMMUNITY. ECMC FOUNDATION SPONSORED three TRAINING SESSIONS DURING 2014 IN WHICH 311 EDUCATION PROFESSIONALS WERE TRAINED. 25000 25000 0 OTHER PROGRAMS: MISCELLANEOUS PROGRAMS AND ACTIVITIES FOR THE FURTHERANCE OF EDUCATIONAL OPPORTUNITIES THROUGH GRANTS, AWARDS AND RESEARCH ON THE MANAGEMENT OF EDUCATIONAL DEBT. 25000 25000 2074952 true true false false false false false false false false 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 false true false false false false true false false false true 14 0 8 true false false false false false false false false false false X 8 7 false false false false true true true true true false false true true true true true true true true false CA NM OR X X Gregory Van Guilder 6512210566 1 Imation Place Building 2 Oakdale MN 551283422 PETER TAYLOR President (effective 5/12/2014) and Director 45.00 6.00 X X 238302 62503 38866 RICHARD BOYLE DIRECTOR/CEO/PRESIDENT NOT PAID BY FOUNDATION 0.00 71.00 X X 0 621041 26561 DAVID HAWN Group CEO (effective 02/01/2014) & Director Not Paid by Foundation 0.00 61.00 X X 0 732831 69505 GARY COOK DIRECTOR NOT PAID BY FOUNDATION 1.00 11.00 X 0 90325 0 ROBERTA COOPER RAMO DIRECTOR NOT PAID BY FOUNDATION 2.00 9.00 X 0 98753 0 JOHN DEPODESTA Board Chair not paid by Foundation 1.00 18.00 X 0 141825 0 I KING JORDAN DIRECTOR NOT PAID BY FOUNDATION 1.00 6.00 X 0 83503 0 JAMES MCKEON DIRECTOR NOT PAID BY FOUNDATION 1.00 12.00 X 0 110253 0 JACK O'CONNELL DIRECTOR NOT PAID BY FOUNDATION 1.00 8.00 X 0 83020 0 MAURICE SALTER DIRECTOR NOT PAID BY FOUNDATION 1.00 9.00 X 0 102770 0 GREGORY VAN GUILDER CFO NOT PAID BY FOUNDATION 0.00 59.00 X 0 774430 85567 DANIEL FISHER SECRETARY/GENERAL COUNSEL NOT PAID BY FOUNDATION 1.00 56.00 X 0 490951 65247 MARCH KESSLER EXECUTIVE DIRECTOR 44.00 0 X 210446 0 31220 VICKI WHEBBE PROGRAM DIRECTOR 41.00 0 X 118678 0 25755 STEVEN WELLVANG FORMER SECRETARY/GENERAL COUNSEL NOT PAID BY FOUNDATION 0.00 0.00 X 0 326352 0 ROBERT STEIN Former Director not paid by Foundation 0.00 0.00 X 0 76000 0 JAMES MURRAY FORMER DIRECTOR NOT PAID BY FOUNDATION 0.00 0.00 X 0 20667 0 567426 3815223 342721 6 true true false 0 151100000 100000000 151100000 0 0 0 0 0 233024 233024 0 0 0 0 0 0 0 0 0 151333024 0 0 233024 X 48486 48486 739655 739655 0 0 0 0 765714 241666 524048 596455 429211 167244 64457 31306 33151 123193 168292 -45099 44663 21119 23544 3365 3365 28226 208 28018 0 0 264421 264421 427918 199108 228810 0 81178 50587 30591 4542 2490 2052 110818 60747 50071 107619 42472 65147 5967 5668 299 21918 12015 9903 Miscellaneous Expense 1301 6 1295 Usage Fee on Shared Assets 39980 21916 18064 0 0 0 0 3479876 2074952 1404924 0 54447129 1396808 4613344 6410000 0 0 0 0 101751667 259789618 0 105415 92048 160917555 267688474 324512 340567 49989064 837247 5889 21471 50319465 1199285 X 103927216 259452970 6670874 7036219 110598090 266489189 160917555 267688474 147853148 8037951 0 X false true X true false X X 1 EDUCATIONAL CREDIT Management Corporation 411778617 9 true 3479876 0 1 3479876 true false false false false false false false false false false false false false false true RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED Investment in ECMC Group Investment Pool 259789618 F 259789618 Due To ECMC Group, Inc. Due To Educational Credit Management Corporation 21471 21471 X 159370975 8037951 0 8037951 151333024 0 0 151333024 3479876 0 0 3479876 0 0 3479876 Schedule D, Part XI, Line 2(a) Net unrealized gains on investments Net unrealized gains on investment in the ECMC Group, Inc. investment pool are $8,037,951 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, 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 2011 through 2013, are open to examination by federal and state authorities." true WESTERN OREGON UNIVERSITY 345 NORTH MONMOUTH AVE MONMOUTH OR 97361 936001786 State Org. 25000 EDUCATION GRANT 1 0 ECMC SCHOLARS SCHOLARSHIPS/GRANTS 254 736869 THE COLLEGE PLACE SCHOLARSHIPS 5 2786 Schedule I, Part I, Line 2 Description Of Procedure For Monitoring Use Of Grant Funds Helping low-income students pursue higher education is core to ECMC Foundation's mission. The grants and assistance to the organizations listed in Part II are minimal in nature and are issued in support of student financial aid conferences and organizations and do not require monitoring. 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. 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. The grants and assistance to the organizations listed in Part II are minimal in nature and are issued in support of student financial aid conferences and organizations and do not require monitoring. 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 (effective 5/12/2014) and Director 236109 62503 425 0 1769 0 23643 0 15222 0 277168 62503 0 0 RICHARD BOYLE DIRECTOR/CEO/PRESIDENT NOT PAID BY FOUNDATION 0 119436 0 500000 0 1605 0 23400 0 3161 0 647602 0 0 DAVID HAWN Group CEO (effective 02/01/2014) & Director Not Paid by Foundation 0 405700 0 324673 0 2457 0 44773 0 24732 0 802336 0 21762 ROBERT STEIN Former Director not paid by Foundation 0 76000 0 0 0 0 0 0 0 0 0 76000 0 0 JAMES MURRAY FORMER DIRECTOR NOT PAID BY FOUNDATION 0 20667 0 0 0 0 0 0 0 0 0 20667 0 0 STEVEN WELLVANG FORMER SECRETARY/GENERAL COUNSEL NOT PAID BY FOUNDATION 0 0 0 0 0 326352 0 0 0 0 0 326352 0 0 GREGORY VAN GUILDER CFO NOT PAID BY FOUNDATION 0 384145 0 388108 0 2177 0 60780 0 24787 0 859997 0 23126 DANIEL FISHER SECRETARY/GENERAL COUNSEL NOT PAID BY FOUNDATION 0 265658 0 221902 0 3390 0 44792 0 20455 0 556198 0 12714 MARCH KESSLER EXECUTIVE DIRECTOR 143240 0 65619 0 1587 0 25322 0 5897 0 241666 0 0 0 Schedule J, Part I, Line 1a Tax indemnification and gross-up payments Certain taxable benefits are grossed up to make the employee whole. This has been approved by the board of directors. Schedule J, Part I, Line 3 Arrangement used to establish the top management official's compensation As noted in Part VII of Form 990 and Schedule J, Part II, the only Executive Officer compensated by ECMC Foundation was the President, Peter 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 2014: Steven Wellvang - $316,000, paid by ECMC Holdings, Inc., a related organization. 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 2014, Gregory Van Guilder and Daniel Fisher participated in the plan, and received employer contributions of $12,080 and $5,244, 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. 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 on contributions Other: The number reported in Part I, Line 25, Column (b) is based on the number of contributions received. Schedule M, Part I Number of contributions or items contributed The number reported in Part I, Line 25, Column (b) is based on the number of contributions received. Form 990, Part I, Line 6 Volunteers 8 volunteers provided 24 hours of service at ECMC Foundations' College Place centers. Services provided by the volunteers included receptionist and clerical duties and assisting students and their parents in the completion of the Free Application for Federal Student Aid. Form 990, Part III, Line 3 Significant changes in program services Foundation retired its commitment to provide funding to the State of California Cal Grant program after the state's 2013-14 fiscal year. Over the past four years ECMC Foundation and its affiliates have contributed over $345 million to the Cal Grant program. These contributions translated into over 58,000 California students having the financial resources necessary to pursue their dream of a higher education. CoreFormPartIII_PartIIILine4d Description of other program services (Expenses $ 25,000 including grants of $ 25,000)(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 2014, 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 2014, 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 and James Murray, former Directors, had consulting agreements in 2014. Form 990, Part IX, Line 11g Other Fees CONSULTING SERVICES - Total Expense: 179367, Program Service Expense: 608, Management and General Expenses: 178759, Fundraising Expenses: ; OUTSIDE SERVICES - Total Expense: 227212, Program Service Expense: 186803, Management and General Expenses: 40409, Fundraising Expenses: ; Other - Total Expense: 21339, Program Service Expense: 11697, Management and General Expenses: 9642, Fundraising Expenses: ; Form 990, Part X, Line 12 Investments-Other Securities Investments-other securities of $259,789,618 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 $11,569,955 in alternative investments and $8,447,713 in mission related direct investments. ECMC Foundation has no unfunded commitments to the pool at December 31, 2014. Form 990, Part XI, Line 5 Net unrealized gains on investments Net unrealized gains on investment in the ECMC Group, Inc. investment pool are $8,037,951. EDUCATIONAL CREDIT Management Corporation 1 IMATION PLACE Building 2 OAKDALE MN 55128 411778617 GUARANTOR MN 501(c)(3 9 ECMC GROUP INC false ECMC GROUP INC 1 IMATION PLACE Building 2 OAKDALE MN 55128 411991995 EDUCATION FINANCE DE 501(c)(3 Type II NA false ZENITH EDUCATION GROUP INC 1 Imation Place Building 2 Oakdale MN 55128 472237488 CAREER COLLEGES DE 501(c)(3 2 ECMC Group Inc false OAKDALE INVESTMENT MANAGEMENT CORPORATION 1 IMATION PLACE BLDG 2 OAKDALE MN 55128 352085743 HOLDING INVESTMENTS DE ECMC GROUP INC C Corporation false ECMC HOLDINGS CORPORATION 1 IMATION PLACE BLDG 2 OAKDALE MN 55128 411991992 STRATEGIC OVERSIGHT DE ECMC GROUP INC C Corporation false EDUCATIONAL CREDIT SERVICES CO 1 IMATION PLACE BLDG 2 OAKDALE MN 55128 411992001 PRIVATE LOANS DE NA C Corporation false ECMC RECORDS & REC MGMT CORPORATION 1 IMATION PLACE BLDG 2 OAKDALE MN 55128 411989959 DOCUMENT MANAGEMENT DE NA C Corporation false ECMC MANAGEMENT SERVICES CORPORATION 1 IMATION PLACE BLDG 2 OAKDALE MN 55128 411989960 MANAGEMENT SERVICES DE NA C Corporation false ECMC TECHNOLOGY SERVICES CORPORATION 1 IMATION PLACE BLDG 2 OAKDALE MN 55128 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 College Abacus Inc 1 Imation Place Building 2 Oakdale MN 55128 455431744 Web Services DE NA C Corporation false Schedule R, Part V, Line 1c GIFT, GRANT, OR CAPITAL CONTRIBUTION FROM RELATED ORGANIZATION(S) $151,100,000 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) $395,862 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) $223,958 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 $169,545 REIMBURSEMENT PAID TO ECMC GROUP, INC. FOR EXPENSES. Schedule R, Part V, Line 1p Reimbursement Paid to Related Organization(s) for Expenses $266,953 Reimbursement Paid to Educational Credit Management Corporation for Expenses. Schedule R, Part V, Line 1q Reimbursement Paid by Related Organization(s) for Expenses $86,154 severance paid by ECMC Foundation was reimbursed by ECMC Group, Inc. Schedule R, Part I Disregarded Entities of Related Organizations 1(a)-Name. Oakdale Student Loan Funding, LLC (27-1914648), 1 Imation Place, Bldg 2, Oakdale, MN 55128. 1(b)-Primary activity. Holding FFELP Loans. 1(c)-Legal domicile. DE. 1(f)-Direct controlling entity. ECMC Group, Inc. 2(a)-Name. Premiere Credit of North America, LLC (35-2085743), 2002 Wellesley Blvd, #100, Indianapolis, IN 46219. 2(b)-Primary activity. Accounts Receivable Management. 2(c)-Legal domicile. IN. 2(f)-Direct controlling entity. ECMC Holdings Corporation.