2012-11-12T10:49:27-08:00 2011-12-31 BAKER TILLY VIRCHOW KRAUSE LLP 225 S 6TH ST STE 2300 MINNEAPOLIS MN 55402 990 2011-01-01 411990628 ECMC FOUNDATION ECMC 6512210566 1 IMATION PLACE BUILDING 2 OAKDALE MN 551283422 GREGORY VAN GUILDER 6512210566 2012-11-08 true LAWRENCE H MOHR CPA 6128764500 2012-11-07 2011 2016-02-24 21:20:13Z RICHARD BOYLE 1 IMATION PLACE BUILDING 2 OAKDALE MN 551283422 65056404 false X www.ecmcfoundation.org X 2000 DE ECMC Foundation helps low-income, first generation students gain access to and succeed in college. Of expenditures, 99.97% go directly to programs and only 0.03% are allocated to administrative costs. Note, Directors and executives are not compensated by the Foundation. 10 9 8 9 0 2690208 65053498 0 1039 2906 0 2691247 65056404 721750 62984750 0 724583 842304 0 0 370914 357350 1817247 64184404 874000 872000 5477333 47897705 832727 42381099 4644606 5516606 X ECMC Foundation helps people of all ages further their higher education goals focusing on true false 62250000 62250000 CAL GRANTS: HELPING LOW-INCOME STUDENTS PURSUE HIGHER EDUCATION IS CORE TO ECMC FOUNDATION'S MISSION. AS PART OF THIS MISSION AS WELL AS OUR COMMITMENT TO THE STATE OF CALIFORNIA, THE ECMC FOUNDATION BOARD OF DIRECTORS APPROVED A CONTRIBUTION IN EXCESS OF $62 MILLION FOR THE 2011-12 CAL GRANT PROGRAM. AS THE LARGEST SOURCE OF CALIFORNIA STATE AID, CAL GRANTS HELP STUDENTS IN NEED GAIN ACCESS TO HIGHER EDUCATION. OVER THE PAST TWO YEARS, ECMC FOUNDATION AND ITS AFFILIATES HAVE CONTRIBUTED $246.7 MILLION TO THE CAL GRANT PROGRAM. THESE CONTRIBUTIONS TRANSLATE INTO OVER 42,000 CALIFORNIA STUDENTS HAVING THE FINANCIAL RESOURCES NECESSARY TO PURSUE THEIR DREAM OF A HIGHER EDUCATION. 908248 688000 ECMC SCHOLARS: 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 $10.8 MILLION IN SCHOLARSHIPS TO 1,790 STUDENTS IN THIS 627464 11750 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. THERE ARE CURRENTLY FIVE COLLEGE ACCESS CENTERS-TWO CENTERS IN VIRGINIA AND ONE CENTER EACH IN OREGON, CONNECTICUT AND CALIFORNIA. IN 2011, 16,683 PEOPLE WERE ASSISTED IN THE CENTERS. THE CENTERS HAVE ASSISTED OVER 56,000 PEOPLE SINCE THE INCEPTION OF THE P 377890 35000 Believing the College Dream,Realizing the College Dream, PERSIST and other programs are described on Schedule O. 377890 35000 64163602 true true false false false false false false false false false false false true true true false 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 true 8 true false false false false false false false false false false X 10 9 false false false false true true true true true false false true true true true true true true true false NM OR X GREGORY VAN GUILDER 6512210566 1 IMATION PLACE BUILDING 2 OAKDALE MN 551283422 X ROBERT STEIN 1.00 X 0 105155 0 GARY COOK 1.00 X 0 82154 0 ROBERTA COOPER RAMO 2.00 X 0 95055 0 JOHN DEPODESTA 1.00 X 0 105154 0 EDWARD JENNINGS 1.00 X 0 74155 0 I KING JORDAN 1.00 X 0 82155 0 JAMES MCKEON 1.00 X 0 81155 0 JACK O'CONNELL 1.00 X 0 44770 0 MAURICE SALTER 1.00 X 0 44770 0 RICHARD BOYLE 1.00 X X 0 895486 47410 GREGORY VAN GUILDER 1.00 X 0 473578 52753 DANIEL FISHER 1.00 X 0 380088 56000 MARCH KESSLER 38.00 X 172599 0 25317 VICKI WHEBBE 41.00 X 115920 0 21014 RICHARD THOMPSON 41 X 82272 25545 JAMES MURRAY 0 X 42710 STEVEN WELLVANG 1 X 501031 52600 370791 3007416 280639 1 true true false 0 65053498 65053498 2906 2906 65056404 2906 62285000 62285000 699750 699750 171802 165537 6265 0 517870 517668 202 0 35946 35922 24 0 77266 77215 51 0 39420 39393 27 0 1310 0 1310 0 2442 138 2304 0 138363 138017 346 0 7088 7088 0 0 87602 79923 7679 0 7243 6866 377 0 29258 29025 233 0 36733 36728 5 0 4775 4771 4 0 4876 4837 39 0 Usage Fee on shared Assets 36011 35724 287 0 1649 0 1649 0 64184404 64163602 20802 0 171322 22757098 5131313 4512008 174698 20628599 5477333 47897705 125699 113903 665746 42240142 41282 27054 832727 42381099 X 12606 12606 4632000 5504000 4644606 5516606 5477333 47897705 872000 X false true true X false X X X false false false EDU CREDIT MGMT CORP 411778617 9 true true true 64184404 1 64184404 0 0 0 0 0 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED Due From ECMC Group, Inc. 20619051 Due from Educational Credit Management Corporation 8515 Accrued Interest 1033 20628599 Due to ECMC Group, Inc. 27054 27054 Pt X The FIN 48 (ASC 470) disclosure in the ECMC Group, Inc. and SUBSIDIARIES CONSOLIDATED FINANCIAL STATEMENTS READS AS FOLLOWS: "ECMC GROUP, ECMC AND THE FOUNDATION ARE NONPROFIT 501(C)(3) CORPORATIONS AND ARE EXEMPT FROM FEDERAL AND STATE INCOME TAXES." THE BALANCE OF THE DISCLOSURE IN THE FINANCIAL STATEMENTS PERTAINS TO RELATED ENTITIES BUT DOES STATE "GROUP HAD NO UNCERTAIN TAX POSITIONS AS OF DECEMBER 31, 2011." --- true CALIFORNIA STUDENT AID COMMISSION PO BOX 419026 RANCHO CORDOVA CA 95741 680317676 n/a 62250000 Education Grant WESTERN OREGON UNIVERSITY 345 NO MONMOUTH AVE MONMOUTH OR 97361 936001786 n/a 25000 Leadership Conf VIRGINIA COMMONWEALTH UNIV FDN PO BOX 843062 RICHMOND VA 23284 540757884 501(c)(3) 10000 Gen Support 3 0 ECMC Scholars Scholarships 273 688000 The College Place Scholarships 10 11750 Pt I Line 2 Helping low-income students pursue higher education is core to ECMC Foundation's mission. As part of this mission as well as our commitment to the state of California, the ECMC Foundation Board of Directors approved a contribution in excess of $62 million for the 2011-12 Cal Grant Program. As the largest source of California state aid, Cal Grants help students in need gain access to higher education. Over the past two years, ECMC Foundation and its affiliates have contributed $246.7 million to the Cal Grant Program. These contributions translate into over 42,000 California students having the financial resources necessary to pursue their dream of a higher education. --- The grants and assistance to the other organizations listed in Part II are minimal in nature and are issued in support of student financial aid conferences which 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 X X X false false false false true false true false false RICHARD BOYLE 474998 347000 73488 29400 18010 942896 GREGORY VAN GUILDER 305414 166388 1776 31553 21200 526331 DANIEL FISHER 242514 134690 2884 29400 26600 436088 MARCH KESSLER 132098 38550 1951 17305 8012 197916 JAMES MURRAY 42710 42710 STEVEN WELLVANG 309760 182271 9000 29400 23200 553631 Pt I Line 5b The compensation descriptions that follow are related to compensation NOT paid by ECMC Foundation. Per the Form 990 Instructions, ECMC Foundation is required to provide compensation information from related organizations (i.e., ECMC and ECMC Group). These descriptions are related to compensation paid by ECMC and ECMC Group. --- ECMC Foundation does not make payments for the annual officer incentive plan; these payments are made by ECMC Group/ECMC. ECMC Group'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 ECMC Foundation does not make payments for the annual officer incentive plan; these payments are made by ECMC Group/ECMC. ECMC Group'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. 99.97% of all Foundation expenditures go directly to programs in support it its mission and only 0.03% are allocated to administrative costs. ECMC Foundation is funded by ECMC Group. For more information, visit www.ecmcfoundation.org. --- Pt I, Line 6 Volunteers: Nine volunteers provided 386 hours of service at three 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 2 Cal Grant Program Refer to detailed description on Part III, Line 4a. --- Pt III, Line 4d Continued from Part III, Line 4d. Other program services: Form 990, Part III, Line 4d BELIEVING THE COLLEGE DREAM,REALIZING THE COLLEGE DREAM, 377890. 35000. 0. 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 and distributed nationally. --- ECMC Foundation sponsored four training sessions during 2011 in which 420 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 and distributed nationally. 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. --- 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. --- ECMC Foundation sponsored one training session during 2011 in which 120 education professionals were trained. --- Other programs: Miscellaneous programs and activities for the furtherance of educational opportunities through grants, awards and research on the management of educational debt. Expenses $377,890 including grants of $35,000. 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, has the following rights with respect to ECMC Foundation: 1. To authorize amendments to the certificates 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 The following describes the ECMC and ECMC Group executive compensation methodology. Note: ECMC Foundation does not compensate executive officers. --- The Governance & Compensation Committee of the ECMC Group Board of Directors is wholly comprised of independent, outside directors. In 2011, 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. --- Pt VI, Line 17 States to file Form 990: New Mexico and Oregon. --- Pr 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. Per the Form 990 Instructions, ECMC Foundation is required to provide the hours worked by ECMC Foundation Directors for ECMC Foundation, ECMC, ECMC Group and other related organizations. See details below: --- Robert Stein-related orgs=11 hrs/wk, Foundation=1 hr/wk, total=12 hrs/wk Gary Cook-related orgs=8 hrs/wk, Foundation=1 hr/wk, total=9 hrs/wk Roberta Cooper Ramo-related orgs=8 hrs/wk, Foundation=2 hrs/wk, total=10 hrs/wk John DePodesta-related orgs=11 hrs/wk, Foundation=1 hr/wk, total=12 hrs/wk Edward Jennings-related orgs=7 hrs/wk, Foundation=1 hr/wk, total=8 hrs/wk I. King Jordan-related orgs=8 hrs/wk, Foundation=1 hr/wk, total=9 hrs/wk James McKeon-related orgs=8 hrs/wk, Foundation=1 hr/wk, total=9 hrs/wk Jack O'Connell-related orgs=7 hrs/wk, Foundation=1 hr/wk, total=8 hrs/wk Maurice Salter-related orgs=7 hrs/wk, Foundation=1 hr/wk, total=8 hrs/wk --- The officers of ECMC Foundation listed below 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. Per the Form 990 Instructions, ECMC Foundation is required to provide the hours worked by the officers and key employees of ECMC Foundation for ECMC Foundation, ECMC, ECMC Group and other related organizations. See details below: --- Richard Boyle-related orgs=81 hrs/wk, Foundation=1 hrs/wk, total=82 hrs/wk Gregory Van Guilder-related orgs=56 hrs/wk, Foundation=1 hrs/wk, total=57 hrs/wk Daniel Fisher-related orgs=49 hrs/wk, Foundation=1 hrs/wk, total=50 hrs/wk March Kessler-related orgs=5 hrs/wk, Foundation=38 hrs/wk, total=43 hrs/wk Vicki Whebbe-related orgs=1 hr/wk, Foundation=40 hrs/wk, total=41 hrs/wk Richard Thompson-related orgs=0 hrs/wk, Foundation=41 hrs/wk, total=41 hrs/wk James Murray-related orgs=0 hrs/wk, Foundation=0 hrs/wk, total=0 hrs/wk Steven Wellvang-related orgs=42 hrs/wk, Foundation=1 hrs/wk, total= 43 hrs/wk --- James Murray, a former Director, had a consulting agreement in 2011. --- EDUCATIONAL CREDIT MGMT CORP 1 IMATION PLACE BLDG 2 OAKDALE MN 551283422 411778617 GUARANTOR MN 501(c)(3) Line 9 false ECMC GROUP INC 1 IMATION PLACE BLDG 2 OAKDALE MN 551283422 411991995 EDUCATION FINANCE DE 501(c)(3) Line 11a, I 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 ECMC HOLDINGS CORPORATION 1 IMATION PLACE BLDG 2 OAKDALE MN 551283422 411991992 Strategic Oversight DE NA 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 ECMC GROUP INC c 65053498 Allocation ECMC GROUP INC m 392952 Allocation ECMC GROUP INC n 234507 Allocation ECMC GROUP INC o 154184 Allocation