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OPERATES FOR THE SUPPORT AND BENEFIT OF ASCENDIUM EDUCATION SOLUTIONS, INC. (SOLUTIONS). SOLUTIONS SUPPORTS INCREASED ACCESS TO AND SUCCESS IN POSTSECONDAY EDUCATION AS A NATIONAL GRANTMAKER, A FEDERAL STUDENT LOAN GUARANTY AGENCY AND A PROVIDER OF STUDENT SUCCESS SERVICES. 4238275 IMPACT INVESTING IS ONE OF THE KEY WAYS WE ACCOMPLISH OUR MISSION TO CHAMPION OPPORTUNITY FOR EVERYONE. OUR INVESTMENTS ADVANCE CHANGE TO POSTSECONDARY EDUCATION AND WORKFORCE TRAINING SYSTEMS THROUGH NEW TECHNOLOGIES AND SOLUTIONS SO MORE LEARNERS CAN ACHIEVE THEIR ACADEMIC AND CAREER GOALS THROUGH EDUCATION RELATED VENTURE EQUITY AND DEBT INVESTMENTS. 8793959 true false false false false false false false false false true true false false true false false true false false false false false false false false false false false true false false false false false false false false false false false false false false false true true true false false true 51 0 true 129 true true true false false false false false false false false false false false X 12 11 false false false false false false false true true false false false true true true true true true true true false false IL X HOPE MERRY 6087332584 38 BUTTONWOOD COURT MADISON WI 53718 RICHARD D GEORGE - 23 CHAIRMAN/CIO/TREASURER 33.0 17.0 X X 809115 0 75079 DARREN KING - 1 DIRECTOR 2.0 1.0 X 41500 0 0 DAVID J HANSON - 1 DIRECTOR 2.0 1.0 X 46000 0 0 EMERSON BRUMBACK - 1 DIRECTOR - VICE CHAIRMAN 2.0 1.0 X 46000 0 0 JOAN PRINCE - 1 DIRECTOR 3.0 0 X 46000 0 0 LESLIE LENZO - 1 DIRECTOR 2.0 1.0 X 46000 0 0 LINDA HOESCHLER - 1 DIRECTOR 3.0 0 X 46000 0 0 MARIA GONZALEZ-KNAVEL - 1 DIRECTOR 2.0 1.0 X 46000 0 0 RICHARD A WEISS - 1 DIRECTOR - SECRETARY 2.0 1.0 X 46000 0 0 ROGER ERVIN - 1 DIRECTOR 3.0 0 X 50500 0 0 SCOTT KLUG - 1 DIRECTOR 2.0 1.0 X 55000 0 0 THOMAS BOLDT - 1 DIRECTOR 3.0 0 X 55000 0 0 BRETT G LINDQUIST - 3 VP - COMMS AND CMNTY ENGMT 6.0 39.0 X 302787 0 61167 CATHERINE M RISSEEUW - 3 VP - HUMAN RESOURCES 12.0 33.0 X 160805 0 56618 ERIC C MALY - 3 VP - INFO SECURITY AND TECH 12.0 33.0 X 297259 0 62332 HOPE E MERRY - 3 CHIEF FINANCIAL OFFICER 27.0 23.0 X 462554 0 62571 JACQUELINE J FAIRBAIRN - 3 CHIEF OPERATING OFFICER 44.0 1.0 X 405548 0 52669 KEITH WITHAM - 3 PRESIDENT & CEO - AEG 44.0 1.0 X 483620 0 47100 MATTHEW R HARLOWE - 3 DIRECTOR - INTERNAL AUDIT 43.0 2.0 X 265407 0 55997 REBECCA E RAPP - 3 GEN CNSL & CHIEF PRIV OFC 31.0 14.0 X 315947 0 50665 ALYSSA K DUNSIRN - 3 DIRECTOR - IT SECURITY 45.0 0 X 192015 0 44386 BETHANY M MILLER - 3 VP - PLANNING LEARN IMPACT 45.0 0 X 197644 0 40297 JANICE M HICKS - 3 DEPUTY DIR - EDUC GRANTMAKING 45.0 0 X 160772 0 56389 JENNIFER M KRUEGER - 3 DEPUTY GENERAL COUNSEL 45.0 0 X 174744 0 49921 JESSA L VALENTINE - 3 DEPUTY DIR - LEARNING & IMP 45.0 0 X 183906 0 52004 MAUREEN 1144 HARRILL - 3 VP - HUMAN RESOURCES 0.0 0 X 127883 0 8440 5064006 0 775635 60 false true false MORGAN STANLEY 2000 WESTCHESTER AVE PURCHASE NY 10577 INVESTMENT FEES 2082328 ERNST & YOUNG US LLP 200 PLAZA DR SECAUCUS NJ 07094 AUDIT/TAX SERVICE 373449 APPLIED TECH SOLUTIONS LLC 150 N SUNNY SLOPE RD STE 200 MILWAUKEE WI 53005 INFORMATION SERVICES 362415 REINHART BOERNER VAN DEUREN SC 1000 N WATER STREET MILWAUKEE WI 54402 LEGAL SERVICE 123984 4 0 CONTRACTED REVENUE SHARE 900099 451921 451921 0 0 0 0 451921 96941503 -17313 96958816 0 0 216103493 195438724 20664769 0 20664769 20664769 0 MISCELLANEOUS REVENUE 900099 3800 3800 0 0 0 0 3800 118061993 451921 -17313 117627385 4377393 1321273 3056120 12129159 6945840 5183319 888293 508686 379607 1873751 1073813 799938 808506 462996 345510 210896 105448 105448 286225 218121 68104 6321314 4240248 2081066 1044455 262392 782063 0 61066 36865 24201 485040 78607 406433 2331149 430945 1900204 795258 2683 792575 332767 244526 88241 153884 76227 77657 1168961 480 1168481 1398938 295 1398643 MISCELLANEOUS 132694 14179 118515 DUES & MEMBERSHIPS 89731 52355 37376 SERVICE ARRANGEMENT FEES 66730 65863 867 CORP SUPP FUNCT ALLOCATION -18829192 -7347883 -11481309 0 0 0 0 16127018 8793959 7333059 0 709567 322173 1294319146 1185311676 506969 190410 0 0 0 0 6602000 4500095 1326316 1232352 42689947 4812395 39036414 37877552 2180378512 2657586584 21048500 25348500 11188706 9408317 3555116130 3921777659 5810939 5698489 0 0 134972 117294 5945911 5815783 X 3549170219 3915961876 3549170219 3915961876 3555116130 3921777659 101934975 264856682 0 X false true true false X X 1 ASCENDIUM EDUCATION SOLUTIONS INC 391853833 9 true 17306303 0 1 17306303 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0.0 X 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0.0 0 0 X true false false false false false false false false false false false false false false true 0 0 0 0 0 0 4413829 4413829 35596581 3631264 31965317 830731 699197 131534 1848806 481934 1366872 37877552 CLOSELY-HELD EQUITY INTERESTS FINANCIAL DERIVATIVES GSV FUND INVESTMENT 23068635 F RETHINK EDUCATION INVESTMENT 21136154 F BLACKROCK - INDEX FUND 356583362 F VANGUARD - INDEX FUND 341940400 F LEARN CAPITAL VENTURE PARTNERS 65193212 F DEGREED, INC. 999998 C UDEMY INC. 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LIABILITIES 1533 117294 0 0 0 0 0 0 0 0 0 0 0 0 X true true X X X X X false false false false false false false false false RICHARD D GEORGE - 23 CHAIRMAN/CIO/TREASURER 394351 0 410858 0 3906 0 33919 0 41160 0 884194 0 0 0 MAUREEN 1144 HARRILL - 3 VP - HUMAN RESOURCES 12600 0 115000 0 283 0 6000 0 2440 0 136323 0 0 0 JACQUELINE J FAIRBAIRN - 3 CHIEF OPERATING OFFICER 217298 0 186111 0 2139 0 20000 0 32669 0 458217 0 0 0 MATTHEW R HARLOWE - 3 DIRECTOR - INTERNAL AUDIT 138856 0 126219 0 332 0 18291 0 37706 0 321404 0 0 0 BRETT G LINDQUIST - 3 VP - COMMS AND CMNTY ENGMT 135186 0 166133 0 1468 0 19167 0 42000 0 363954 0 0 0 ERIC C MALY - 3 VP - INFO SECURITY AND TECH 150212 0 146247 0 800 0 18228 0 44104 0 359591 0 0 0 HOPE E MERRY - 3 CHIEF FINANCIAL OFFICER 255569 0 206212 0 773 0 20597 0 41974 0 525125 0 0 0 REBECCA E RAPP - 3 GEN CNSL & CHIEF PRIV OFC 143656 0 171380 0 911 0 19159 0 31506 0 366612 0 0 0 CATHERINE M RISSEEUW - 3 VP - HUMAN RESOURCES 136130 0 23225 0 1450 0 12958 0 43660 0 217423 0 0 0 KEITH WITHAM - 3 PRESIDENT & CEO - AEG 297017 0 186117 0 486 0 22747 0 24353 0 530720 0 0 0 ALYSSA K DUNSIRN - 3 DIRECTOR - IT SECURITY 183869 0 7290 0 856 0 20248 0 24138 0 236401 0 0 0 JANICE M HICKS - 3 DEPUTY DIR - EDUC GRANTMAKING 151294 0 9166 0 312 0 13677 0 42712 0 217161 0 0 0 JENNIFER M KRUEGER - 3 DEPUTY GENERAL COUNSEL 147829 0 26115 0 800 0 13855 0 36066 0 224665 0 0 0 BETHANY M MILLER - 3 VP - PLANNING LEARN IMPACT 187144 0 10164 0 336 0 18352 0 21945 0 237941 0 0 0 JESSA L VALENTINE - 3 DEPUTY DIR - LEARNING & IMP 171827 0 11557 0 522 0 19489 0 32515 0 235910 0 0 0 SCHEDULE J, PART I, LINE 1A FIRST-CLASS OR CHARTER TRAVEL PURSUANT TO THE ORGANIZATION'S WRITTEN TRAVEL AND EXPENSE REIMBURSEMENT POLICY, FIRST-CLASS TRAVEL MAY BE REIMBURSED IN LIMITED CIRCUMSTANCES. DURING THE TAX YEAR, THIS BENEFIT WAS PROVIDED TO A SINGLE MEMBER OF THE BOARD OF DIRECTORS. ALL REIMBURSED EXPENSES WERE SUBJECT TO THE ORGANIZATION'S EXPENSE SUBSTANTIATION AND REIMBURSEMENT PROCEDURES. THE REIMBURSEMENTS WERE NOT TREATED AS TAXABLE COMPENSATION. FORM 990, PART VI, LINE 11B REVIEW OF FORM 990 BY GOVERNING BODY ON AN ANNUAL BASIS, THE CHAIRMAN OF THE BOARD, PRESIDENT AND CEO, THE AUDIT COMMITTEE AND BOARD REVIEWS THE FORM 990 PRIOR TO FILING. THE CONFLICTS OF INTEREST QUESTIONNAIRES ARE COMPLETED BY EACH DIRECTOR AND REVIEWED PRIOR TO FILING THE FORM 990. FORM 990, PART VI, LINE 12C CONFLICT OF INTEREST POLICY ANNUALLY, DIRECTORS AND OFFICERS SIGN A CONFLICT OF INTEREST DOCUMENT WHICH DISCLOSES ANY CONFLICTS. THE SIGNED DOCUMENTS ARE REVIEWED ANNUALLY BY THE CHAIRMAN OF THE BOARD. IF A DISCLOSED CONFLICT OCCURS, THE INDIVIDUAL ABSTAINS FROM DISCUSSION AND VOTING ON TOPICS WHERE A CONFLICT OF INTEREST EXISTS. ALL DIRECTORS, OFFICERS AND EMPLOYEES ARE SUBJECT TO THE HUMAN RESOURCES CODE OF ETHICS TO MAINTAIN THE HIGHEST ETHICAL AND LEGAL STANDARDS OF BUSINESS CONDUCT. FORM 990, PART VI, LINE 15A PROCESS TO ESTABLISH COMPENSATION OF TOP MANAGEMENT OFFICIAL THE COMPENSATION OF THE CEO AND ALL OF THE OFFICERS IS DETERMINED ANNUALLY BY THE PERSONNEL POLICY COMMITTEE OF THE BOARD OF DIRECTORS. THE CEO IS ROUTINELY EXCUSED AND ABSTAINS FROM DISCUSSION AND/OR VOTING ON ANY MATTERS RELATED TO HIS OWN COMPENSATION AND BENEFITS. THE PERSONNEL POLICY COMMITTEE'S REPORT IS SUBMITTED TO THE BOARD OF DIRECTORS FOR APPROVAL. THE DECISIONS ARE DOCUMENTED IN THE BOARD MINUTES. EVERY TWO TO THREE YEARS, AN INDEPENDENT COMPENSATION STUDY IS PERFORMED, LAST COMPENSATION STUDY WAS PERFORMED IN 2025. FORM 990, PART VI, LINE 15B PROCESS TO ESTABLISH COMPENSATION OF OTHER EMPLOYEES THE COMPENSATION OF THE CEO AND ALL OF THE OFFICERS IS DETERMINED ANNUALLY BY THE PERSONNEL POLICY COMMITTEE OF THE BOARD OF DIRECTORS. THE CEO IS ROUTINELY EXCUSED AND ABSTAINS FROM DISCUSSION AND/OR VOTING ON ANY MATTERS RELATED TO HIS OWN COMPENSATION AND BENEFITS. THE PERSONNEL POLICY COMMITTEE'S REPORT IS SUBMITTED TO THE BOARD OF DIRECTORS FOR APPROVAL. THE DECISIONS ARE DOCUMENTED IN THE BOARD MINUTES. EVERY TWO TO THREE YEARS, AN INDEPENDENT COMPENSATION STUDY IS PERFORMED, LAST COMPENSATION STUDY WAS PERFORMED IN 2025. FORM 990, PART VI, LINE 19 REQUIRED DOCUMENTS AVAILABLE TO THE PUBLIC FEDERAL TAX LAW DOES NOT REQUIRE THAT SUCH DOCUMENTS BE MADE PUBLICLY AVAILABLE. DOCUMENTS ARE AVAILABLE UPON SPECIFIC REQUEST. FORM 990, PART VII, SECTION A, LINE 1A PART VII, SECTION A, QUESTION 1A (1) DIRECTORS NORMALLY ATTEND 3-4 BOARD MEETINGS AND 3-4 COMMITTEE MEETINGS PER YEAR IN ADDITION TO TELEPHONIC CONFERENCES AND INDIVIDUAL MEETINGS WITH OFFICERS. DIRECTORS DEVOTE AN AVERAGE OF 1-3 HOURS PER WEEK TO THEIR POSITION(S). (2) COMPENSATION LINE INCLUDES COMPENSATION FOR GENERAL COUNSEL SERVICES AND AFFILIATE GROUP RESPONSIBILITIES. INSIDE DIRECTORS ARE NOT ELIGIBLE FOR BOARD COMPENSATION. (3) NON-OPERATING OFFICER POSITION NOT SEPARATELY COMPENSATED. FORM 990, PART IX, LINE 24D PART IX, LINE 24D COSTS ARE CHARGED TO THE APPLICABLE MANAGING AREA AND THEN FURTHER ALLOCATED TO SUPPORTING SERVICES AND PROGRAMS THAT EACH AREA SUPPORTS. COSTS ARE ALLOCATED TO SUPPORTING SERVICES AND PROGRAMS BASED ON ESTIMATES MADE BY MANAGEMENT, TAKING INTO ACCOUNT THE NATURE OF THE EXPENSE AND HOW IT RELATES TO THE FUNCTIONAL AREAS. COSTS ARE TYPICALLY ALLOCATED BASED ON RESOURCES USED OR TIME AND EFFORT. 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