2012-11-12T10:48:34-08:00 2011-12-31 BAKER TILLY VIRCHOW KRAUSE LLP 225 S 6TH ST STE 2300 MINNEAPOLIS MN 55402 990 2011-01-01 411991995 ECMC GROUP INC 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 GREGORY VAN GUILDER 1 IMATION PLACE BUILDING 2 OAKDALE MN 551283422 138763650 false X N/A X 2000 DE ECMC Group supports the furtherance of the exempt purpose of Educational Credit Management Corporation by providing management/planning services that are in support of higher education finance and college access, retention and success. ECMC Group also funds the programs and initiatives of ECMC Foundation. 10 9 18 0 0 12690208 119053498 14710913 19680939 51212 29213 0 27452333 138763650 2690208 65058498 0 3281586 5299204 0 0 18760773 6482831 24732567 76840533 2719766 61923117 106860280 179596471 44503431 55316505 62356849 124279966 X ECMC Group supports the exempt purpose of ECMC by providing management services false false 65053498 65053498 CONTRIBUTIONS MADE 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. --- THE ECMC GROUP BOARD OF DIRECTORS APPROVED A CONTRIBUTION TO THE ECMC FOUNDATION 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 GROUP AND 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. 3866905 8950173 LOAN PORTFOLIO SERVICING: ECMC GROUP, INC. HAS AN ELIGIBLE LENDER TRUST AGREEMENT WITH US BANK NATIONAL ASSOCIATION. US BANK SERVES AS AN ELIGIBLE LENDER TRUST (ELT) FOR ECMC GROUP, INC. THROUGH THE ELT, ECMC GROUP, INC. PURCHASES REHABILITATED LOANS FROM EDUCATIONAL CREDIT MANAGEMENT CORPORATION, A RELATED ENTITY. 772954 5000 GOVERNMENT RELATIONS FUNCTIONS AS A CENTRAL REPOSITORY TO ENABLE SHARING OF INFORMATION AMONG THE ECMC GROUP RELATED ORGANIZATIONS, LEGISLATIVE BODIES AND GOVERNMENT AGENCIES WHOSE LAWS AND REGULATIONS IMPACT THE OPERATIONS OF ECMC GROUP COMPANIES. THE PROGRAM ENABLES THE ORGANIZATION TO REVIEW CURRENT INITIATIVES OF THESE LEGISLATIVE BODIES AND AGENCIES AND PROVIDE CONSTRUCTIVE INPUT ON SAID INITIATIVES. 4852837 Continued on Schedule O. 4852837 69693357 true true false false false false false false false false true true true true true true false true false false false false false false false false false true false true false false false false false false false false false false false false true true true true false true 47 0 true 18 true false false false false false false false false false false X 10 9 false false true false true true true true true false false true true true true true true true true false NM X GREGORY VAN GUILDER 6512210566 1 IMATION PLACE BLDG 2 OAKDALE MN 551283422 X ROBERT STEIN 7.00 X 84155 21000 0 GARY COOK 5.00 X 63654 18500 0 ROBERTA COOPER RAMO 4.00 X 73055 22000 0 JOHN DEPODESTA 6.00 X 79654 25500 0 EDWARD JENNINGS 4.00 X 62655 11500 0 I KING JORDAN 5.00 X 71655 10500 0 JAMES MCKEON 4.00 X 62655 18500 0 JACK O'CONNELL 4.00 X 36270 8500 0 MAURICE SALTER 4.00 X 36270 8500 0 RICHARD BOYLE 75.00 X X 895486 0 47410 GREGORY VAN GUILDER 51.00 X 473578 0 52753 DANIEL FISHER 25.00 X 380088 0 56000 HEATHER RENNER 41.00 X 191814 0 35721 DAVID HAWN 11.00 X 117214 339123 57000 EDWARD SPEAR 0 X 356800 45410 HEIDI JOHNSON 4 X 303537 55801 ROBERTA SWEENEY 40 X 156310 18731 FRED CHAMBERS 3 X 47767 144280 42666 AMEDEO MINUTOLO 12 X 42810 92383 34737 BRADLEY TOTMAN 13 X 34080 85762 21745 PAUL VALENTINO 10 X 31058 84961 28787 JAMES MURRAY 0 X 42710 STEVEN WELLVANG 6 X 501031 52600 3339738 1695577 549361 11 true true false BAKER TILLY VIRCHOW KRAUSE LLP 225 S SIXTH ST STE 2300 MINNEAPOLIS MN 55402 Accounting 536310 LARSON SOFTWARE DEVELOPMENT INC PO BOX 184 HUDSON WI 54016 IT Consulting Agency 278630 DAHL CONSULTING INC 418 COUNTY RD D EAST ST PAUL MN 551171218 IT Consulting Agency 277514 OPPENHEIMER WOLFF & DONNELLY LLP PLAZA VII STE 3300 45 S SEVENTH ST MINNEAPOLIS MN 55402 Legal 265243 SGF SOFTWARE COMPANY 2751 HENNEPIN AVE STE 115 MINNEAPOLIS MN 55408 IT Consulting Agency 224470 11 119053498 119053498 Management Services 900003 10730766 5877929 Student Loan Portfolio 900099 8950173 19680939 29213 29213 138763650 13803010 5907142 65058498 65058498 2297680 252986 2044694 0 2255737 73204 2182533 0 161137 5229 155908 0 407713 6070 401643 0 176937 5742 171195 0 169272 161714 7558 0 192553 33963 158590 0 2184712 1711394 473318 0 38 2 36 0 363173 63792 299381 0 39467 2254 37213 0 721505 12188 709317 0 265734 37882 227852 0 20381 1335 19046 0 733159 733159 0 0 0 0 0 0 1212051 1208333 3718 0 54002 2031 51971 0 Loss on student loans held 309120 309120 0 0 Usage on shared assets 212393 14461 197932 0 5271 0 5271 0 76840533 69693357 7147176 0 8688331 17082947 2501264 2501948 14607 28457 664475 942926 18592 5887 16423 12705 13747390 19164031 65671075 112564790 375000 166667 15181715 27132000 106860280 179596471 2254524 3726779 41000000 28450000 1248907 23139726 44503431 55316505 X 62356849 124279966 62356849 124279966 106860280 179596471 61923117 X false true true X false X X X false false false EDUCATIONAL CREDIT MGMT CORP 411778617 9 true true true 772954 1 772954 0 0 0 0 0 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 18592 5887 12705 12705 ECMC Holdings Corporation stock 1000 C ECMC Holdings Corp paid-in capital 19163031 C 19164031 Student loan receivable 112564790 F 112564790 Due from Educational Credit Management Corporation 26453208 Due from ECMC Holdings Corporation 463612 Due from ECMC Solutions Corporation 175445 Due from ECMC Foundation 27054 Due from Records and Receivable Management Corporation 4667 Due from Educational Credit Services Company 214 Due from Federal Services Bureau 6000 Security Deposits 1800 27132000 Due to ECMC Foundation 20619051 Due to ECMC Holdings Corporation 1311082 Due to Educational Credit Management Corporation 1197563 Due to Federal Services Bureau 12030 23139726 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. --- 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 CARRYFORWARDS. 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. --- GROUP ACCOUNTS FOR THE UNCERTAINTY IN INCOME TAXES RELATED TO THE RECOGNITION AND MEASUREMENT OF A TAX POSITION true ECMC FOUNDATION 1 IMATION PLACE BLDG 2 OAKDALE MN 55128 411990628 501(c)(3) 65053498 Gen Support 1 0 Pt I Line 2 ECMC Group, Inc. is the sole member of ECMC Foundation and closely monitors the use of the cash grants through reports to management and the Board of Directors on a regular basis. X true true 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 HEATHER RENNER 138251 51995 1568 23132 12589 227535 DAVID HAWN 117600 160891 176173 -386 2059 6400 29400 8154 13046 131768 381569 EDWARD SPEAR 221998 131306 3496 29400 16010 402210 HEIDI JOHNSON 199444 102051 2042 29400 26401 359338 ROBERTA SWEENEY 143967 2309 10034 13607 5124 175041 FRED CHAMBERS 46994 81774 58938 773 3568 2866 17427 8383 13990 59016 175697 AMEDEO MINUTOLO 36594 74449 7500 14849 -1284 3085 5485 11242 15456 2554 63751 106179 JAMES MURRAY 42710 42710 STEVEN WELLVANG 309760 182271 9000 29400 23200 553631 Pt I Line 1a Certain taxable benefits are grossed up to make the employee whole. This has been approved by the board of directors. --- Pt I Line 5b 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 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 ECMC Group is a nonprofit corporation that provides services in support of higher education finance. Our work spans several business lines, but at the core of our nonprofit activities is providing support for the administration of federal student loan programs as well as promoting financial literacy and college access, retention and success. ECMC Group also funds the programs and initiatives of ECMC Foundation; ECMC Foundation helps low-income individuals as well as those who may be the first in their family to attend college. --- Pt III, Line 4d Continued from Part III, Line 4d. Support and services supplied to ECMC Group, Inc. related organizations to further tax exempt purposes. Expenses $0 including grants of $0. Revenue $4,852,837. --- Pt VI, Line 4 The Bylaws of ECMC Group, Inc. were amended to allow for up to 11 Directors. The previous Bylaws allowed for up to 9 Directors. --- Pt VI, Line 6 Each Director of the ECMC Group, Inc.'s Board of Directors is a member of ECMC Group, Inc. In 2011, there were ten members of the Board of Directors and, therefore, ten members of the corporation. Membership terminates upon the termination of such member's director status on the Board of Directors. There are no stockholders. --- Form 990, Part III, Line 4d CONTINUED ON SCHEDULE O. 0. 0. 4852837. Pt VI, Line 7a The members of ECMC Group, Inc. Board of Directors are nominated by the Governance & Compensation Committee of the Board and elected by the Board of Directors. The Governance & Compensation Committee consists of such independent members appointed to it by the ECMC Group, Inc. Board of Directors. --- Pt VI, Line 7b The governing body and the member are the same individuals. --- 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 Chairman. The Board member or CEO will be required to excuse themselves from deliberation and voting on matters which 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 Group, Inc. 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. --- 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. --- Pt VI, Line 19 No documents are made available to the public. --- Pt VII-A Per the Form 990 Instructions, ECMC Group is required to provide the hours worked by ECMC Group Directors for ECMC Group and its related organizations. See detail below: Robert Stein-related orgs=5 hrs/wk, ECMC Group, Inc.=7 hrs/wk, total=12 hrs/wk Gary Cook-related orgs=4 hrs/wk, ECMC Group, Inc.=5 hrs/wk, total=9 hrs/wk Roberta Cooper Ramo-related orgs=6 hrs/wk, ECMC Group, Inc.=4 hrs/wk, total=10 hrs/wk John DePodesta-related orgs=6 hrs/wk, ECMC Group, Inc.=6 hrs/wk, total=12 hrs/wk Edward Jennings-related orgs=4 hrs/wk, ECMC Group, Inc.=4 hrs/wk, total=8 hrs/wk I. King Jordan-related orgs=4 hrs/wk, ECMC Group, Inc.=5 hrs/wk, total=9 hrs/wk James McKeon-related orgs=5 hrs/wk, ECMC Group, Inc.=4 hrs/wk, total=9 hrs/wk Jack O'Connell-related orgs=4 hrs/wk, ECMC Group, Inc.=4 hrs/wk, total=8 hrs/wk Maurice Salter-related orgs=4 hrs/wk, ECMC Group, Inc.=4 hrs/wk, total=8 hrs/wk --- Per the Form 990 Instructions, ECMC Group is required to provide the hours worked by officers and key employees of ECMC Group for ECMC Group and its related organizations. See details below: Richard Boyle-related orgs=7 hrs/wk, ECMC Group, Inc.=75 hrs/wk, total=82 hrs/wk Gregory Van Guilder-related orgs=6 hrs/wk, ECMC Group, Inc.=51 hrs/wk, total=57 hrs/wk Daniel Fisher-related orgs=25 hrs/wk, ECMC Group, Inc.=25 hrs/wk, total=50 hrs/wk Heather Renner-related orgs=1 hrs/wk, ECMC Group, Inc.=41 hrs/wk, total=42 hrs/wk David Hawn-related orgs=46 hrs/wk, ECMC Group, Inc.=11 hrs/wk, total=57 hrs/wk Edward Spear-related orgs=56 hrs/wk, ECMC Group, Inc.=0 hrs/wk, total=56 hrs/wk Heidi Johnson-related orgs=51 hrs/wk, ECMC Group, Inc.=4 hrs/wk, total=55 hrs/wk Roberta Sweeney-related orgs=0 hrs/wk, ECMC Group, Inc.=40 hrs/wk, total=40 hrs/wk Fred Chambers=related orgs=36 hrs/wk, ECMC Group, Inc.=3 hrs/wk, total=39 hrs/wk Amedeo Minutolo=related orgs=37 hrs/wk, ECMC Group, Inc.=12 hrs/wk, total=49 hrs/wk Bradley Totman=related orgs=37 hrs/wk, ECMC Group, Inc.=13 hrs/wk, total=50 hrs/wk Paul Valentino=related orgs=39 hrs/wk, ECMC Group, Inc.=10 hrs/wk, total=49 hrs/wk James Murray-related orgs=0 hrs/wk, ECMC Group, Inc.=0 hrs/wk, total=0 hrs/wk Steven Wellvang-related orgs=37 hrs/wk, ECMC Group, Inc.=6 hrs/wk, total=43 hrs/wk --- James Murray, a former Director, had a consulting agreement in 2011. --- OAKDALE STUDENT LOAN FUNDING LLC 1 IMATION PLACE BLDG 2 OAKDALE MN 551283422 271914648 Holding FFELP Loans DE 1326554 38177186 ECMC GROUP INC PREMIERE CREDIT OF NORTH AMERICA LLC 2002 WELLESLEY BLVD 100 INDIANAPOLIS IN 46219 352085743 Accounts Receivable Management IN ECMC HOLDINGS CORP EDUCATIONAL CREDIT MGMT CORP 1 IMATION PLACE BLDG 2 OAKDALE MN 551283422 411778617 GUARANTOR MN 501(c)(3) Line 9 ECMC FOUNDATION 1 IMATION PLACE BLDG 2 OAKDALE MN 551283422 411990628 Promote Education DE 501(c)(3) Line 11B II ECMC HOLDINGS CORPORATION 1 IMATION PLACE BLDG 2 OAKDALE MN 551283422 411991992 Strategic Oversight DE ECMC GROUP INC C 42746436 37115383 1.00000 EDUCATIONAL CREDIT SERVICES CO 1 IMATION PLACE BLDG 2 OAKDALE MN 551283422 411992001 Private Loans DE NA C ECMC RECORDS & REC MGMT 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 true true false false false false false false false false false true true false true false false ECMC FOUNDATION b 65053498 Allocation ECMC FOUNDATION m 392952 Allocation ECMC FOUNDATION n 234507 Allocation ECMC FOUNDATION p 154184 Allocation EDUCATIONAL CREDIT MANAGEMENT CORPORATION c 119053498 Allocation EDUCATIONAL CREDIT MANAGEMENT CORPORATION m 26993239 EDUCATIONAL CREDIT MANAGEMENT CORPORATION n 26781174 EDUCATIONAL CREDIT MANAGEMENT CORPORATION p 12211757 ECMC HOLDINGS CORPORATION m 1327546 ECMC HOLDINGS CORPORATION n 487063 ECMC HOLDINGS CORPORATION p 896300 ECMC RECORDS & RECEIVABLE MANAGEMENT CORPORATION m 92059 ECMC SOLUTIONS CORPORATION m 2972799 ECMC SOLUTIONS CORPORATION n 1336233 ECMC SOLUTIONS CORPORATION p 666582