2013-11-11T13:58:20-08:00 2012-12-31 BAKER TILLY VIRCHOW KRAUSE LLP 225 S 6TH ST STE 2300 MINNEAPOLIS MN 55402 990 2012-01-01 411990628 ECMC FOUNDATION ECMC 6512210566 1 IMATION PLACE BUILDING 2 OAKDALE MN 551283422 GREGORY VAN GUILDER 6512210566 2013-11-11 true LAWRENCE H MOHR CPA 6128764500 2013-11-11 2012 2016-02-24 21:20:13Z DANIEL FISHER 1 IMATION PLACE BUILDING 2 OAKDALE MN 551283422 53512331 false X www.ecmcfoundation.org X 2000 DE ECMC Foundation helps low-income, first generation students gain access to and succeed in college. 11 10 9 8 0 65053498 53496229 0 2906 16102 0 65056404 53512331 62984750 981450 0 842304 1381305 0 0 357350 523574 64184404 2886329 872000 50626002 47897705 85972455 42381099 29829847 5516606 56142608 X ECMC Foundation helps people of all ages further their higher education goals focusing on false true 1188151 934000 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 MORE THAN $12.3 MILLION IN SCHOLARSHIPS TO 2,050 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. 748280 7750 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 2 268160 BELIEVING THE COLLEGE DREAM, REALIZING THE COLLEGE DREAM AND PERSIST. BELIEVING THE COLLEGE DREAM, REALIZING THE COLLEGE DREAM AND PERSIST ARE CURRICULUM GUIDES. SEE SCHEDULE O FOR FULL DESCRIPTIONS. 152062 39700 Other programs are described on Schedule O. 152062 39700 2356653 true true false false false false false false true false false false false true true false true true false false false false false false false false false true true true false false false false false false false false false false false false false true false false false true 9 0 9 true false false false false false false false false false false X 11 10 false false false false true true true true true false false true true true true true true true true false NM OR CA X GREGORY VAN GUILDER 6512210566 1 IMATION PLACE BUILDING 2 OAKDALE MN 551283422 X ROBERT STEIN 1.00 X 0 118167 0 GARY COOK 1.00 X 0 88654 0 ROBERTA COOPER RAMO 3.00 X 0 91000 0 JOHN DEPODESTA 1.00 X 0 112654 0 EDWARD JENNINGS 1.00 X 0 68000 0 I KING JORDAN 1.00 X 0 79000 0 JAMES MCKEON 1.00 X 0 98500 0 JACK O'CONNELL 1.00 X 0 71000 0 MAURICE SALTER 1.00 X 0 81000 0 PETER TAYLOR 1.00 X 0 50667 0 RICHARD BOYLE 1.00 X X 0 907210 47049 GREGORY VAN GUILDER 1.00 X 0 617270 74681 DANIEL FISHER 1.00 X 0 468092 69732 STEVEN BUMBAUGH 45.00 X 167912 0 21015 MARCH KESSLER 41 X 196275 27777 VICKI WHEBBE 42 X 115331 24886 STEVEN WELLVANG 0 X 432699 58887 JAMES MURRAY 0 X 46684 479518 3330597 324027 3 true true false 0 53496229 53496229 16102 16102 53512331 16102 39700 39700 941750 941750 0 0 0 0 392428 195098 197330 0 0 0 0 0 701181 561385 139796 0 79274 63468 15806 0 157525 87757 69768 0 50897 40749 10148 0 0 0 0 0 2414 0 2414 0 3593 161 3432 0 0 0 0 0 0 0 0 0 0 0 163365 161496 1869 0 1868 1867 1 0 95637 76506 19131 0 5789 4064 1725 0 0 0 0 0 85669 61203 24466 0 77240 57607 19633 0 0 0 0 0 13387 12280 1107 0 0 0 0 0 0 0 0 0 0 0 0 0 9906 7077 2829 0 Usage Fee on shared Assets 62188 44428 17760 0 2518 57 2461 0 2886329 2356653 529676 0 22757098 31013202 4512008 4612722 20628599 50346531 47897705 85972455 113903 287064 42240142 934783 28219044 27054 388956 42381099 29829847 X 12606 12608 5504000 56130000 5516606 56142608 47897705 85972455 50626002 X false true X true false X X X false false false EDU CREDIT MGMT CORP 411778617 9 true true true 2886329 1 2886329 0 0 0 0 0 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false true X Due From ECMC Group, Inc. 50344399 Accrued Interest 2132 50346531 Due to ECMC Group, Inc. 283482 Due to Educational Credit Management Corporation 105474 388956 53512331 53512331 53512331 2886329 2886329 2886329 Pt IV Line 2b Educational Credit Management Corporation, a related entity, COMMITTED TO FUND $84,657,132 FOR THE STATE OF CALIFORNIA'S 2012-2013 CAL GRANT FINANCIAL AID PROGRAM. DURING 2012, ECMC FOUNDATION ACTED AS AN AGENT TO FACILITATE THE PAYMENT OF THESE FUNDS. --- true WESTERN OREGON UNIVERSITY 345 NO MONMOUTH AVE MONMOUTH OR 97361 936001786 State Org. 25000 Leadership Conf VIRGINIA COMMONWEALTH UNIV FDN PO BOX 843062 RICHMOND VA 23284 540757884 501(c)(3) 10000 Gen Support 2 0 ECMC Scholars Scholarships 241 934000 The College Place Scholarships 8 7750 Pt I Line 2 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 false true false false true false true false false RICHARD BOYLE 477959 422078 7173 32000 15049 954259 GREGORY VAN GUILDER 306665 308771 1834 53387 21294 691951 DANIEL FISHER 245266 220799 2027 43037 26695 537824 STEVEN BUMBAUGH 113429 54483 12825 8190 188927 MARCH KESSLER 142194 52455 1626 19765 8012 224052 STEVEN WELLVANG 309721 114546 8432 35647 23240 491586 JAMES MURRAY 46684 46684 Pt I Line 1a ECMC Foundation's approved relocation policy for executives allows for certain reimbursable items to be grossed up for taxes to make the employee whole. This has been approved by the board of directors. In 2012, the relocation expense for ECMC Foundation's new president, Steven Bumbaugh, was treated as taxable compensation and grossed up for taxes under this policy. --- Pt I Line 3 As noted in Part VII of Form 990 and Schedule J, Part II, the only executive officer compensated by ECMC Foundation was the President, Steven Bumbaugh. All other executive officers' compensation was paid by related organizations. --- Pt I Line 4b ECMC Group, Inc. maintains a supplemental nonqualified retirement plan described in section 457(f) to attract and retain employees, typically in management positions. In 2012 Gregory Van Guilder participated in the plan. No payments were made from the plan. --- Pt I Line 5b As noted in Part VII of Form 990 and Schedule J, Part II, the only executive officer compensated by ECMC Foundation was the President, Steven Bumbaugh. 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. --- Pt I Line 6b As noted in Part VII of Form 990 and Schedule J, Part II, the only executive officer compensated by ECMC Foundation was the President, Steven Bumbaugh. All other executive officers' compensation was paid by related organizations. ECMC Group, Inc.'s annual officer incentive plan requires achievement of stated key performance metrics, which includes net earnings before any payment to any officer is made. --- Pt I, Line 1 About ECMC Foundation ECMC Foundation helps people of all ages further their education goals, particularly low-income individuals, as well as those who may be the first member of their family to attend college. Our innovative outreach programs focus on college access, retention and success. Through partnerships with government agencies, educational institutions and community organizations, ECMC Foundation is able to help make the dream of college a reality for those individuals who may not otherwise have an opportunity to pursue higher education. ECMC Foundation is funded by ECMC Group, Inc. For more information, visit www.ecmcfoundation.org. --- Pt I, Line 6 Volunteers: Eight volunteers provided 249 hours of service at 4 of ECMC Foundation's 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. --- Pt III, Line 3 Cal Grant Program In 2011 ECMC Foundation made a contribution to the Cal Grant program. In 2012 Educational Credit Management Corporation, a related entity, committed to fund $84,657,132 for the State of California's 2012-2013 Cal Grant financial aid program. During 2012, ECMC Foundation acted as an agent to facilitate the payment of these funds. --- Form 990, Part III, Line 4d OTHER PROGRAMS ARE DESCRIBED ON SCHEDULE O. 152062. 39700. 0. Pt III, Line 4c Believing the College Dream, Realizing the College Dream and PERSIST: --- 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 in 2012 was downloaded more than 1,400 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 2012 in which more than 400 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 in 2012 was 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 two training sessions during 2012 in which more than 200 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. In 2012 the guide was downloaded more than 900 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 two training sessions during 2012 in which more than 200 education professionals were trained. --- Pt III, Line 4d Other programs: Miscellaneous programs and activities for the furtherance of educational opportunities through grants, awards and research on the management of educational debt. Expenses $152,062 including grants of $39,700. Revenue $0. --- Pt VI, Line 6 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. --- Pt VI, Line 7a ECMC Group, Inc. has the right to elect and/or approve all the directors of the ECMC Foundation Board of Directors. --- Pt VI, Line 7b 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. --- Pt VI, Line 11a 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. --- Pt VI, Line 12c 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. --- Pt 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. --- Pt VI, Line 15 As noted in Part VII of Form 990 and Schedule J, Part II, the only executive officer compensated by ECMC Foundation was the President, Steven Bumbaugh. 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 2012, 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. In July 2012, Steven Bumbaugh was hired as President of ECMC Foundation. At the request of the Governance and Compensation Committee, Grant Thornton identified an appropriate compensation package for the President position. --- Pt VI, Line 17 States to file Form 990: New Mexico, Oregon and California. --- Pt VI, Line 19 No documents are made available to the public. --- Pt VII-A 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, Steven Bumbaugh, 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. --- James Murray, a former Director, had a consulting agreement in 2012. --- EDUCATIONAL CREDIT MGMT CORP 1 IMATION PLACE BLDG 2 OAKDALE MN 551283422 411778617 GUARANTOR MN 501(c)(3) Line 9 ECMC GROUP INC false ECMC GROUP INC 1 IMATION PLACE BLDG 2 OAKDALE MN 551283422 411991995 EDUCATION FINANCE DE 501(c)(3) Line 11a, I NA false PREMIERE CREDIT OF NO AMERICA LLC 2002 WELLESLEY BLVD INDIANAPOLIS IN 46219 352085743 Accounts Receivable Mgmt IN NA N/A OAKDALE STUDENT LOAN FUNDING LLC 1 IMATION PLACE BLDG 2 OAKDALE MN 551283422 271914648 Holding FFELP Loans DE NA N/A OAKDALE INVESTMENT MANAGEMENT CORPORATION 1 IMATION PLACE BLDG 2 OAKDALE MN 551283422 352085743 Holding Investments DE ECMC GROUP INC C ECMC HOLDINGS CORPORATION 1 IMATION PLACE BLDG 2 OAKDALE MN 551283422 411991992 Strategic Oversight DE ECMC GROUP INC C EDUCATIONAL CREDIT SERVICES CO 1 IMATION PLACE BLDG 2 OAKDALE MN 551283422 411992001 Private Loans DE NA C ECMC RECORDS & REC MANAGEMENT CORPORATION 1 IMATION PLACE BLDG 2 OAKDALE MN 551283422 411989959 Document Management DE NA C ECMC MANAGEMENT SERVICES CORPORATION 1 IMATION PLACE BLDG 2 OAKDALE MN 551283422 411989960 Management Services DE NA C ECMC TECHNOLOGY SERVICES CORPORATION 1 IMATION PLACE BLDG 2 OAKDALE MN 551283422 411989958 Technology Services DE NA C ECMC SOLUTIONS CORPORATION 1 IMATION PLACE BLDG 2 OAKDALE MN 551283422 271854584 Default Prevention DE NA C false false true false false false false false false false false false true true true false false false false ECMC GROUP INC c 53496229 Allocation ECMC GROUP INC m 749152 Allocation ECMC GROUP INC o 123360 Allocation EDUCATIONAL CREDIT MANAGEMENT CORPORATION n 132972 Allocation