2015-11-12T16:31:02-06:00 2014-12-31 390859910 Baker Tilly Virchow Krause LLP 225 S 6th St Ste 2300 Minneapolis MN 55402 990 2014-09-17 472237488 Zenith Education Group Inc ZENI 6512210566 1 Imation Place Building 2 Oakdale MN 551283422 Greg Van Guilder Treasurer 2015-11-12 true Lawrence H Mohr CPA P00447603 6128764500 2014 2016-04-25 22:37:26Z X David Hawn 1 Imation Place Building 2 Oakdale MN 551283422 25000925 false X www.zenith.org X 2014 DE Zenith Education Group, Inc. is the largest nonprofit career college system in America, providing students access to high-quality (continued on schedule O) education necessary to enter into prosperous and fulfilling careers. Above all, Zenith Education Group, Inc. is driven to promote the long-term success of our graduates - measured in strong program completion and job placement rates. 5 5 0 0 0 0 25000000 0 925 0 0 25000925 0 0 0 0 0 0 0 0 25000925 0 25000925 0 0 0 25000925 To help students succeed in their pursuit of an educational experience that prepares them for the workforce. false false 0 0 0 Zenith Education Group, Inc. was incorporated on September 17, 2014 as a non-stock, non-profit corporation in the State of Delaware. Zenith Education Group, Inc. is organized solely for educational purposes to provide students with post-secondary career education instruction and services. Specifically, Zenith Education Group, Inc. was established to purchase the assets and operations of two for-profit colleges, Everest College and WyoTech (together, the "Colleges"), and operate them as nonprofit schools owned and operated by Zenith Education Group, Inc. The purchase was completed on February 2, 2015. As such, no program services were offered in 2014. 0 true true false false false false false false false false false false false false true false true true false false false false false false false false false false true false false false false false false false false false false false false false true false false false true 0 0 0 false false false false false false false false false false X 5 5 false false false false true true true true false false false true true true true true true true true false X Greg Van Guilder 6512210566 1 Imation Place Building 2 Oakdale MN 551283422 GARY COOK Director 1.00 11.00 X 0 90325 0 JOHN DEPODESTA Board Chair 1.00 18.00 X 0 141825 0 I KING JORDAN Director 0.00 7.00 X 0 83503 0 JAMES MCKEON Director 1.00 12.00 X 0 110253 0 JACK O'CONNELL Director 0.00 9.00 X 0 83020 0 GREGORY VAN GUILDER Treasurer 0.00 59.00 X 0 774430 85567 DANIEL FISHER Secretary 0.00 57.00 X 0 490951 65247 DAVID HAWN President 0.00 61.00 X 0 732831 69505 0 2507138 220319 0 false true false 0 25000000 25000000 0 0 0 0 0 925 925 0 0 0 0 0 0 0 0 0 25000925 0 0 925 0 0 0 0 0 0 0 0 0 0 0 0 25000925 0 0 0 0 0 0 0 0 25000925 0 0 0 0 X 25000925 0 25000925 0 25000925 25000925 0 X false true X true false X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 X Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote The FIN 48 (ASC 470) disclosure in the ECMC Group, Inc. and Subsidiaries Consolidated Financial Statements reads as follows: "ECMC Group, ECMC, Zenith, and ECMC Foundation are nonprofit 501(c)(3) corporations and are exempt from federal and state income taxes. Holdings and its subsidiaries are taxable entities and account for deferred tax assets and liabilities under the liability method. Deferred tax liabilities are recognized for temporary differences that will result in taxable amounts in future years. Deferred tax assets are recognized for deductible temporary differences and tax operating loss and tax credit carry forwards. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. With few exceptions, Group is no longer subject to U.S. federal, state or local income tax examinations by tax authorities for the years before 2011. In the event of any current or future tax assessments, Group has elected to record the income taxes and any related interest and penalties as income tax expense on Group's statement of activities." true false Schedule E, Part I, Line 3 RACIALLY NONDISCRIMINATORY POLICY See explanation in Part II. Schedule E, Part I, Line 4(d) RECORDS AND COPIES MAINTAINED BY THE ORGANIZATION Schedule E, Part I, Line 5(h) DISCRIMINATION BY RACE Schedule E, Part I, Line 6(a) FINANCIAL AID OR ASSISTANCE FROM A GOVERNMENT Schedule E, Part I, Line 6(b) REVOCATION OR SUSPENSION OF GOVERNMENTAL AID OR ASSISTANCE Schedule E, Part I, Line 7 RACIAL NONDISCRIMINATION REQUIREMENTS false true false false false false false false false GREGORY VAN GUILDER Treasurer 0 384145 0 388108 0 2177 0 60780 0 24787 0 859997 0 23126 DANIEL FISHER Secretary 0 265658 0 221902 0 3390 0 44792 0 20455 0 556198 0 12714 DAVID HAWN President 0 405700 0 324673 0 2457 0 44773 0 24732 0 802336 0 21762 Schedule J, Part I, Line 3 Arrangement used to establish the top management official's compensation Zenith Education Group, Inc. did not make payments for compensation in 2014, its year of organization. Executive officers' compensation was paid by related organizations. 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. Form 990, Part VI, Line 13 Whistleblower Policy The Zenith Education Group, Inc. whistleblower policy requires directors, officers and employees to observe high standards of business and personal ethics in the conduct of their duties and responsibilities. Employees and representatives of the Corporation are to practice honesty and integrity in fulfilling their responsibilities and comply with all applicable laws and regulations. The policy provides for reporting mechanisms of potential illegal practices or violations of corporate policies, and prohibits repercussions for good faith reporting of suspected violations under the policy. Form 990, Part VI, Line 6 Classes of members or stockholders Zenith Education Group, Inc. 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 Zenith Education Group, Inc. BOARD OF DIRECTORS. Form 990, Part VI, Line 7b Decisions requiring approval by members or stockholders ECMC GROUP, INC., THE SOLE MEMBER OF Zenith Education Group, Inc., RETAINS THE FOLLOWING AUTHORITY OVER Zenith Education Group, Inc.: 1. TO AUTHORIZE AMENDMENTS TO THE ARTICLES OF INCORPORATION AND BYLAWS. 2. TO APPROVE THE STRATEGIC AND FINANCIAL PLANS. 3. TO ELECT AND/OR APPROVE THE MEMBERS OF THE BOARD OF DIRECTORS. 4. TO OVERSEE COORDINATION OF PROGRAMS AND SERVICES OFFERED. 5. TO AUTHORIZE FORMATION, GOVERNANCE AND DISSOLUTION. Form 990, Part VI, Line 8b Documentation of meetings held by committees of governing body There were no board designated committees of Zenith Education Group, Inc. in 2014. 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 Key EMPLOYEES ARE REQUIRED TO REAFFIRM ON AN ANNUAL BASIS THEIR UNDERSTANDING OF THE COMPANY'S Conflict of Interest Policy. THE AFFIRMATION SPECIFICALLY REFERENCES THAT THE INDIVIDUAL WILL COMPLY WITH THE DIRECTIVES OF THE Corporation's Conflict of Interest Policy. It also references the individual's fiduciary duty to the corporation, responsibility not to disclose confidential, proprietary information and understanding that as a charitable organization the corporation must diligently avoid in fact and in appearance any conflict of interest in order to maintain the trust of the public. The policy is reviewed annually. MONITORING AND ENFORCEMENT OF THE POLICY IS ACCOMPLISHED THROUGH THE REAFFIRMATION PROCESS. IN CASES WHERE A POTENTIAL CONFLICT IS DISCLOSED TO THE Board, Committee or Board's Designee, procedures are in place to determine whether a conflict of interest exists and to address a conflict of interest. THE BOARD member WILL BE REQUIRED TO EXCUSE THEMSELVES FROM the process 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, 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, 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 NO DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC. ECMC Group Inc 1 Imation Place Building 2 Oakdale MN 55128 411991995 Education Finance DE 501(c)(3 Type II NA false Educational Credit Management Corporation 1 Imation Place Building 2 Oakdale MN 55128 411778617 Guarantor MN 501(c)(3 9 ECMC Group Inc false ECMC Foundation 1 Imation Place Building 2 Oakdale MN 55128 411990628 Promote Education DE 501(c)(3 Type II ECMC Group Inc false Oakdale Investment Management Corporation 1 Imation Place Building 2 Oakdale MN 55128 352085743 Holding Investments DE ECMC Group Inc C Corporation false ECMC Holdings Corporation 1 Imation Place Building 2 Oakdale MN 55128 411991992 Strategic Oversight DE ECMC Group Inc C Corporation false Educational Credit Services Co 1 Imation Place Building 2 Oakdale MN 55128 411992001 Private Loans DE NA C Corporation false ECMC Records & Rec Mgmt Corporation 1 Imation Place Building 2 Oakdale MN 55128 411989959 Document Management DE NA C Corporation false ECMC Management Services Corporation 1 Imation Place Building 2 Oakdale MN 55128 411989960 Management Services DE NA C Corporation false ECMC Technology Services Corporation 1 Imation Place Building 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) $25,000,000 contribution made by ECMC Group, Inc. to Zenith Education Group, Inc. to support the subsequent acquisition in 2015 of 56 Everest and WyoTech campuses and the Everest online programs, and transition the schools from for profit schools into nonprofit learning institutions. 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.