Nonprofit · EIN 41-1991995
ECMC GROUP INC
Tax-exempt · MINNEAPOLIS, MN 55401
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $501,325,316 | $280,995,832 | $220,329,484 | $5,676,831,671 | $4,364,904,671 | $1,311,927,000 |
| December 31, 2023 | 990 | $5,041,564,260 | $269,141,527 | $4,772,422,733 | $5,293,474,958 | $4,017,358,201 | $1,276,116,757 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $129,892,000
- Program service revenue
- $177,093,028
- Investment income
- $186,593,924
- Net gain from sales of assets
- $160,710,571
- Other revenue
- $7,746,364
Expenses
- Grants and similar amounts paid
- $105,786,344
- Compensation of officers, directors and key employees
- $4,057,200
- Other salaries and wages
- $6,708,596
- Salaries, compensation and benefits (total)
- $12,030,158
- Professional fundraising fees
- $0
- Legal fees
- $766,582
- Accounting fees
- $490,795
- Occupancy
- $437,008
- Travel
- $416,866
- Depreciation
- $7,577,435
- Program services (functional)
- $251,642,015
- Management and general (functional)
- $29,353,817
Balance sheet and other
- Total assets, start of year
- $5,293,474,958
- Total assets, end of year
- $5,676,831,671
- Total liabilities, end of year
- $4,364,904,671
- Net assets, end of year
- $1,311,927,000
- Land, buildings and equipment
- $4,926,171
- Publicly traded securities
- $337,632,889
- Net assets without donor restrictions
- $1,311,927,000
- Gross unrelated business income
- $31,997,479
- Gross receipts
- $1,668,318,469
- Employees
- 245
- Volunteers
- 0
- Year formed
- 2000
- State of legal domicile
- DE
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| DANIEL FISHER | PRESIDENT & CEO Trustee or director, Officer | 40 | $1,373,427 | $0 | $130,325 |
| GREGORY VAN GUILDER | FORMER CHIEF INVESTMENT OFFICER Former | 0 | $27,619 | $1,179,319 | $99,362 |
| MARTIN SCANLON | CFO & TREASURER Officer | 40 | $903,005 | $0 | $108,170 |
| SARAH STREHL | CHIEF HUMAN RESOURCES OFFICER Key employee | 40 | $705,672 | $0 | $100,129 |
| RAHOUL GHOSE | CHIEF INFORMATION OFFICER Key employee | 40 | $660,107 | $0 | $102,291 |
| BRIAN BOARDMAN | GENERAL COUNSEL & CORP SECRETARY Officer | 40 | $520,510 | $0 | $91,781 |
| HEIDI JOHNSON | CHIEF OF STAFF Key employee | 40 | $512,190 | $0 | $91,680 |
| IRIS CUMBERBATCH | SR VP, CORPORATE AFFAIRS Key employee | 40 | $513,337 | $0 | $56,246 |
| PHILIP BECKER | FORMER VP, INVESTMENTS Former | 40 | $15,075 | $436,349 | $56,076 |
| JOHN MCKENNELL | CHIEF INFORMATION SECURITY OFFICER Key employee | 40 | $347,332 | $0 | $72,468 |
| ADAM TRAMPE | VP, DEPUTY GENERAL COUNSEL Key employee | 40 | $345,308 | $0 | $68,143 |
| JOSEPH WATT | VP, IMPACT INVESTING Officer | 40 | $358,717 | $0 | $34,075 |
| HUGH MCSHERRY | VP, CORPORATE SERVICES Key employee | 40 | $322,981 | $0 | $64,225 |
| TIFFANY THOMPSON | VP, FINANCE & CONTROLLER Key employee | 40 | $333,642 | $0 | $34,352 |
| MATTHEW MIKULSKI | VP, INTERNAL AUDIT Key employee | 40 | $294,197 | $0 | $53,888 |
18 more people on this return
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| TROY GUNDERMAN | DIR, LITIGATION Highest-paid employee | 40 | $280,025 | $0 | $65,072 |
| AARON WOODRICH | VP, INFORMATION TECH Key employee | 40 | $270,117 | $0 | $73,538 |
| JOHN YOPP | DIR, SOFTWARE ENGINEERING Highest-paid employee | 40 | $267,325 | $0 | $55,708 |
| DEAN VANDECOEVERING | SR DIR, FINANCE Highest-paid employee | 40 | $274,721 | $0 | $48,059 |
| ANN JOHNSTON | SR DIR, IT BUSINESS OPERATIONS Highest-paid employee | 40 | $275,559 | $0 | $47,093 |
| STEVEN HUPERT | DIR, INFORMATION TECH Highest-paid employee | 40 | $256,099 | $0 | $65,589 |
| STEVE HANSEN | VP, INFORMATION TECH-THRU 6/26 Key employee | 40 | $195,904 | $0 | $22,217 |
| JAMES V MCKEON | BOARD CHAIR Trustee or director | 13 | $0 | $197,500 | $0 |
| JOSH ULLOM | VP, APPLICATIONS & ANALYTICS Key employee | 40 | $160,412 | $0 | $34,956 |
| JULIA S GOUW | DIRECTOR Trustee or director | 5 | $0 | $155,000 | $0 |
| DIANA J INGRAM | DIRECTOR Trustee or director | 7 | $0 | $151,250 | $0 |
| K PAUL SINGH | DIRECTOR Trustee or director | 10 | $0 | $145,000 | $0 |
| JENNIFER ANDERSON | DIRECTOR Trustee or director | 6 | $0 | $138,750 | $0 |
| JACK O'CONNELL | DIRECTOR Trustee or director | 5 | $0 | $135,000 | $0 |
| JAMES RUNCIE | DIRECTOR Trustee or director | 7 | $0 | $135,000 | $0 |
| DEREK LANGHAUSER | DIRECTOR Trustee or director | 5 | $0 | $127,500 | $0 |
| JOHN F DEPODESTA | FORMER BOARD CHAIR Former | 0 | $0 | $60,000 | $0 |
| JEREMY WHEATON | FORMER PRESIDENT & CEO Former | 0 | $19,539 | $0 | $0 |
990 for the year ended December 31, 2023: 34 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| JEREMY WHEATON | FORMER PRESIDENT & CEO, ECMC GROUP Former | 0 | $1,622,127 | $0 | $0 |
| DANIEL FISHER | PRESIDENT & CEO, ECMC GROUP Trustee or director, Officer | 40 | $1,268,659 | $0 | $126,730 |
| GREGORY VAN GUILDER | CHIEF INVESTMENT OFFICER Officer | 40 | $1,149,769 | $0 | $97,806 |
| MARTIN SCANLON | CFO & TREASURER Officer | 40 | $918,311 | $0 | $104,819 |
| SARAH STREHL | CHIEF HUMAN RESOURCES OFFICER Key employee | 40 | $699,742 | $0 | $96,737 |
| RAHOUL GHOSE | CHIEF INFORMATION OFFICER Key employee | 40 | $688,263 | $0 | $100,107 |
| PHILIP BECKER | VP, INVESTMENTS Officer | 40 | $531,762 | $0 | $85,078 |
| HEIDI JOHNSON | CHIEF OF STAFF Key employee | 40 | $507,841 | $0 | $89,056 |
| IRIS CUMBERBATCH | SR VP, CORPORATE AFFAIRS Key employee | 40 | $523,304 | $0 | $56,476 |
| BRIAN BOARDMAN | GENERAL COUNSEL & CORP SECRETARY Officer | 40 | $453,655 | $0 | $86,354 |
| BRUCE FEIST | VP, APPLICATIONS & ANALYTICS Key employee | 40 | $400,940 | $0 | $82,872 |
| ADAM TRAMPE | VP, DEPUTY GENERAL COUNSEL Key employee | 40 | $346,448 | $0 | $68,215 |
| JOHN MCKENNELL | CHIEF INFORMATION SECURITY OFFICER Key employee | 40 | $345,175 | $0 | $69,389 |
| HUGH MCSHERRY | VP, CORPORATE SERVICES Key employee | 40 | $331,116 | $0 | $61,513 |
| JOSEPH WATT | VP, IMPACT INVESTING Officer | 40 | $353,937 | $0 | $34,009 |
| STEVE HANSEN | VP, IT Key employee | 40 | $322,529 | $0 | $58,009 |
| TIFFANY THOMPSON | VP, FINANCE & CONTROLLER Key employee | 40 | $327,202 | $0 | $33,781 |
| MATTHEW MIKULSKI | VP, INTERNAL AUDIT Key employee | 40 | $293,968 | $0 | $57,669 |
| AARON WOODRICH | SR DIR, IT Highest-paid employee | 40 | $245,794 | $0 | $69,830 |
| JAMES FISHER | SR DIR, INVESTMENTS Highest-paid employee | 40 | $269,097 | $0 | $46,380 |
| CASSIE STARK | DIR, HUMAN RESOURCES & TALENT Highest-paid employee | 40 | $243,269 | $0 | $68,501 |
| STEVEN HUPERT | DIR, IT Highest-paid employee | 40 | $237,136 | $0 | $71,487 |
| CHRISTOPHER JANZEN | VP, ACADEMIC TECHNOLOGY - PART YEAR Key employee | 40 | $304,915 | $0 | $3,256 |
| DEAN VANDECOEVERING | SR DIR, FINANCE Highest-paid employee | 40 | $262,274 | $0 | $44,854 |
| JAMES V MCKEON | BOARD CHAIR Trustee or director | 12 | $0 | $197,500 | $0 |
| JULIA S GOUW | DIRECTOR Trustee or director | 5 | $0 | $155,000 | $0 |
| DIANA J INGRAM | DIRECTOR Trustee or director | 7 | $0 | $151,250 | $0 |
| JENNIFER ANDERSON | DIRECTOR Trustee or director | 5 | $0 | $148,750 | $0 |
| JACK O'CONNELL | DIRECTOR Trustee or director | 5 | $0 | $145,000 | $0 |
| K PAUL SINGH | DIRECTOR Trustee or director | 7 | $0 | $141,875 | $0 |
| DEREK LANGHAUSER | DIRECTOR Trustee or director | 4 | $0 | $137,500 | $0 |
| JAMES RUNCIE | DIRECTOR Trustee or director | 7 | $0 | $128,750 | $0 |
| JOHN F DEPODESTA | FORMER BOARD CHAIR Former | 0 | $0 | $60,000 | $0 |
| I KING JORDAN | FORMER DIRECTOR Former | 0 | $0 | $30,000 | $0 |
Address and contacts
- Address (IRS master file)
- 111 WASHINGTON AVE S1400, MINNEAPOLIS, MN 55401-0000
- Principal officer (990 for 2024)
- DANIEL S FISHER, 111 WASHINGTON AVE SO STE 1400 1400, MINNEAPOLIS, MN 55401
- Signed the 990
- MARTIN A SCANLON, CFO & TREASURER
- Phone
- (651) 221-0566
- Website
- WWW.ECMCGROUP.ORG
- Return prepared by
- KPMG LLP
Mission
ECMC GROUP, INC'S MISSION IS TO HELP STUDENTS SUCCEED BY CREATING, PROVIDING AND INVESTING IN INNOVATIVE EDUCATIONAL OPPORTUNITIES.
Program accomplishments
- LOAN PORTFOLIO SERVICING:ECMC GROUP, INC. AND OAKDALE STUDENT LOAN FUNDING, LLC (OAKDALE), A WHOLLY OWNED SUBSIDIARY OF ECMC GROUP, INC., HAVE ELIGIBLE LENDER TRUST (ELT) AGREEMENTS WITH MANUFACTURERS AND TRADERS TRUST COMPANY. MANUFACTURERS AND TRADERS TRUST COMPANY SERVES AS THE ELT FOR ECMC GROUP, INC. AND OAKDALE. THROUGH THE ELTS, ECMC GROUP, INC. AND OAKDALE PURCHASE FEDERAL FAMILY EDUCATION LOAN PROGRAM (FFELP) REHABILITATED STUDENT LOANS FROM EDUCATIONAL CREDIT MANAGEMENT CORPORATION, A RELATED ENTITY, AND OTHER GUARANTY AGENCIES TO ENSURE THAT STUDENT LOAN BORROWERS CAN REALIZE THE FULL BENEFITS AFFORDED THEM UNDER 34 CFR SEC. 682.405. PATRIOT STUDENT LOAN CAPITAL, LLC (PATRIOT) HAS INTERIM ELT AGREEMENTS WITH MANUFACTURERS AND TRADERS TRUST COMPANY. ECMC GROUP STUDENT LOAN TRUST 2016-1 (TRUST 2016-1), ECMC GROUP STUDENT LOAN TRUST 2017-1 (TRUST 2017-1), ECMC GROUP STUDENT LOAN TRUST 2017-2 (TRUST 2017-2), ECMC GROUP STUDENT LOAN TRUST 2018-1 (TRUST 2018-1), ECMC GROUP STUDENT LOAN TRUST 2018-2 (TRUST 2018-2), ECMC GROUP STUDENT LOAN TRUST 2019-1 (TRUST 2019-1), ECMC GROUP STUDENT LOAN TRUST 2020-1 (TRUST 2020-1), ECMC GROUP STUDENT LOAN TRUST 2020-2 (TRUST 2020-2), ECMC GROUP STUDENT LOAN TRUST 2020-3 (TRUST 2020-3) AND ECMC GROUP STUDENT LOAN TRUST 2021-1 (TRUST 2021-1), COLLECTIVELY (THE TRUSTS), HAVE ELT AGREEMENTS WITH MANUFACTURERS AND TRADERS TRUST COMPANY. MANUFACTURERS AND TRADERS TRUST COMPANY SERVES AS THE INTERIM ELT FOR PATRIOT AND AS ELT FOR THE TRUSTS LISTED ABOVE. THROUGH THE INTERIM ELT, PATRIOT PURCHASES FFELP REHABILITATED STUDENT LOANS FROM ECMC GROUP, INC. AND OAKDALE AND RESELLS THE LOANS THROUGH THE ELT TO THE TRUSTS. THE TRUSTS ISSUED CLASS A NOTES SECURED BY THE RESPECTIVE STUDENT LOAN PORTFOLIOS.Expenses $145,524,297 · revenue $177,093,028
- SUPPORTING RELATED ORGANIZATIONS:ECMC GROUP, INC. SUPPORTS THE FURTHERANCE OF THE EXEMPT PURPOSE OF EDUCATIONAL CREDIT MANAGEMENT CORPORATION, ECMC EDUCATION, INC., AND ECMC FOUNDATION BY CREATING, PROVIDING AND INVESTING IN INNOVATIVE EDUCATIONAL OPPORTUNITIES. ECMC GROUP, INC. IS A NONPROFIT CORPORATION WHOSE VISION IS TO EMPOWER UNDERSERVED COMMUNITIES TO THRIVE THROUGH EDUCATION. $82,935,000 CASH CONTRIBUTIONS MADE TO ECMC FOUNDATION FOR GENERAL SUPPORT OF ITS MISSION TO IMPROVE HIGHER EDUCATION AND CAREER SUCCESS AMONG UNDERSERVED POPULATIONS THROUGH EVIDENCE-BASED INNOVATION. $12,611,000 CASH CONTRIBUTIONS MADE TO EDUCATIONAL CREDIT MANAGEMENT CORPORATION TO SUPPORT ITS MISSION TO PROVIDE FINANCIAL COUNSELING AND EDUCATION TO EMPOWER STUDENTS TO MAKE BETTER CHOICES ABOUT THEIR FUTURES. $9,600,000 CASH CONTRIBUTIONS MADE TO ECMC EDUCATION, INC. TO SUPPORT THE ENTITY'S WIND-DOWN ACTIVITIES, INCLUDING THE SETTLEMENT OF OUTSTANDING OBLIGATIONS.Expenses $105,146,000 · grants $105,146,000
- GRANTS & SPONSORSHIPS:GRANTS AND SPONSORSHIPS SUPPLIED BY ECMC GROUP, INC. TO SCHOOLS AND INDIVIDUALS IN SUPPORT OF ITS TAX-EXEMPT PURPOSE.Expenses $640,344 · grants $640,344
- PUBLIC POLICY:THROUGH THE PUBLIC POLICY PROGRAM, ECMC GROUP, INC. SHARES INFORMATION AMONG ECMC GROUP-RELATED MEMBERS ON LEGISLATIVE PROPOSALS AND GOVERNMENTAL REGULATIONS THAT IMPACT THEIR OPERATIONS. THE PROGRAM ENABLES ECMC GROUP, INC. AFFILIATES TO MONITOR PUBLIC POLICY MATTERS AND PROVIDE NONPARTISAN ANALYSIS AND RESEARCH TO POLICYMAKERS, THOUGHT LEADERS AND THE GENERAL PUBLIC.Expenses $331,374
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 41-1991995
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Supporting organization (509(a)(3))
- Donations deductible (Pub 78)
- Supporting organization of unknown type
- Exempt since
- 2001
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Education (B02)
- Assets (IRS master file)
- $5,676,831,671
- Income (IRS master file)
- $1,668,318,469
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $501,325,316 | $280,995,832 | $5,676,831,671 | XML |
| 990-T | December 2024 | – | – | – | IRS |
| 990 | December 2023 | $5,041,564,260 | $269,141,527 | $5,293,474,958 | XML |
| 990-T | December 2023 | – | – | – | IRS |
| 990 | December 2022 | $467,330,504 | $680,177,668 | $5,422,363,648 | IRS |
| 990-T | December 2022 | – | – | – | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990-T | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990-T | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
| 990 | December 2017 | – | – | – | IRS |
990-N: the IRS publishes only the latest e-Postcard per organization; earlier years appear here as 990.tax collects the monthly files. 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS.
Questions about ECMC GROUP INC
- What is the EIN of ECMC GROUP INC?
- The employer identification number (EIN) of ECMC GROUP INC is 41-1991995.
- Is ECMC GROUP INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2001.
- Are donations to ECMC GROUP INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Supporting organization of unknown type).
- Which annual return does ECMC GROUP INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of ECMC GROUP INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did ECMC GROUP INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of ECMC GROUP INC?
- The 990 for the year ended December 31, 2024 names DANIEL S FISHER.
- Who are the officers and directors of ECMC GROUP INC?
- The 990 for the year ended December 31, 2024 lists 33 people; 24 received compensation from the organization, the highest $1,373,427 (DANIEL FISHER, PRESIDENT & CEO).
- How much revenue does ECMC GROUP INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $501,325,316, expenses of $280,995,832 and total assets of $5,676,831,671 at year end.
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