Ecmc Group Inc
90% goes to programs $0 to raise $100 Strong reserves
Ecmc Group Inc is a 501(c)(3) organization based in Minneapolis, Minnesota, registered in 2001, with $501,325,316 in FY2024 revenue. CharityIndex grades it A+, and it directs about 90% of spending to programs.
111 Washington Ave S1400, Minneapolis, MN, 55401 EIN 41-1991995 Since 2001
Revenue (FY2024)
$501.3M
▼ 90.1% vs prior year
Education median: $200K
Expenses (FY2024)
$281.0M
Net assets
$1.3B
Employees
245
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A+
A+Program efficiency40% of the rating90% to programs · $0 to raise $100
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For Ecmc Group Inc: 90% to programs · $0 to raise $100 earns a A+ on this criterion. See the exact thresholds →
AFinancial health25% of the rating56 mo reserves · +44% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Ecmc Group Inc: 56 mo reserves · +44% margin earns a A on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Ecmc Group Inc: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
A+Transparency10% of the rating5 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Ecmc Group Inc: 5 of 5 disclosure signals earns a A+ on this criterion. See the exact thresholds →
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Mission
To help students succeed by creating, providing and investing in innovative educational opportunities.
What they do
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.
Grants & sponsorships:grants and sponsorships supplied by ecmc group, inc. to schools and individuals in support of its tax-exempt purpose.
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.
Contact & location
- Address
- 111 Washington Ave S1400, Minneapolis, MN, 55401
- City
- Minneapolis
- State
- Minnesota
- Category
- Education
- Subcategory
- Alliances, Advocacy & Professional Societies
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $372.3M (FY2013) to $501.3M (FY2024) across 12 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $4.4BNet assets $1.3B
Operating margin
43.9%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$5.7B
Total liabilities
$4.4B
Net assets
$1.3B
Salaries & benefits
$12.0M
4% of expenses
Board members
9
8 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $501,325,316▼90.1% | $280,995,832▲4.4% | $1,311,927,000▲2.8% | $5,676,831,671▲7.2% | 990 |
| 2023 | $5,041,564,260▲979% | $269,141,527▼60.4% | $1,276,116,757▲11.0% | $5,293,474,958▼2.4% | 990 |
| 2022 | $467,330,504▼17.1% | $680,177,668▲346% | $1,149,200,794▼27.7% | $5,422,363,648▼6.6% | 990 |
| 2021 | $564,021,532▲34.8% | $152,473,246▼12.1% | $1,588,933,746▲42.2% | $5,806,492,820▲22.8% | 990 |
| 2020 | $418,494,950▲15.7% | $173,468,527▲3.4% | $1,117,097,856▲31.9% | $4,727,263,783▲26.2% | 990 |
| 2019 | $361,718,874▼7.1% | $167,699,665▼34.3% | $846,831,475▲24.3% | $3,744,530,742▲15.9% | 990 |
| 2018 | $389,351,426▼4.7% | $255,318,480▲16.3% | $681,182,359▲14.0% | $3,231,152,033▲8.8% | 990 |
| 2017 | $408,477,376▲35.6% | $219,533,878▼72.2% | $597,694,156▲56.0% | $2,970,759,498▲58.6% | 990 |
| 2016 | $301,167,127▲17.1% | $788,762,842▲420% | $383,206,363▼55.5% | $1,873,481,757▲35.5% | 990 |
| 2015 | $257,149,238▼10.1% | $151,783,197▼25.2% | $861,424,651▲13.0% | $1,382,922,773▲29.0% | 990 |
| 2014 | $286,173,689▼23.1% | $202,900,919▲18.3% | $762,321,527▲16.1% | $1,071,870,418▲27.4% | 990 |
| 2013 | $372,329,145 | $171,545,898▲130% | $656,426,003▲65.4% | $841,030,758▲45.7% | 990 |
| 2012 | — | $74,513,900▼3.0% | $396,842,315▲219% | $577,254,653▲221% | 990 |
| 2011 | — | $76,840,533▲211% | $124,279,966▲99.3% | $179,596,471▲68.1% | 990 |
| 2010 | — | $24,732,567 | $62,356,849 | $106,860,280 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2024)
Highest-paid: Daniel Fisher — $1,373,427 (0.49% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Daniel Fisher | President & Ceo | 40 | $1,373,427 |
| Martin Scanlon | Cfo & Treasurer | 40 | $903,005 |
| Sarah Strehl | Chief Human Resources Officer | 40 | $705,672 |
| Rahoul Ghose | Chief Information Officer | 40 | $660,107 |
| Brian Boardman | General Counsel & Corp Secretary | 40 | $520,510 |
| Iris Cumberbatch | Sr Vp, Corporate Affairs | 40 | $513,337 |
| Heidi Johnson | Chief of Staff | 40 | $512,190 |
| Joseph Watt | Vp, Impact Investing | 40 | $358,717 |
| John Mckennell | Chief Information Security Officer | 40 | $347,332 |
| Adam Trampe | Vp, Deputy General Counsel | 40 | $345,308 |
| Tiffany Thompson | Vp, Finance & Controller | 40 | $333,642 |
| Hugh Mcsherry | Vp, Corporate Services | 40 | $322,981 |
| Matthew Mikulski | Vp, Internal Audit | 40 | $294,197 |
| Troy Gunderman | Dir, Litigation | 40 | $280,025 |
| Ann Johnston | Sr Dir, It Business Operations | 40 | $275,559 |
| Dean Vandecoevering | Sr Dir, Finance | 40 | $274,721 |
| Aaron Woodrich | Vp, Information Tech | 40 | $270,117 |
| John Yopp | Dir, Software Engineering | 40 | $267,325 |
| Steven Hupert | Dir, Information Tech | 40 | $256,099 |
| Steve Hansen | Vp, Information Tech-thru 6/26 | 40 | $195,904 |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Navient Solutions Inc | Loan Portfolio Servicing | $4,589,964 |
| Amazon Web Services Inc | It Service & Support | $3,868,787 |
| Solution Design Group Inc | It Service & Support | $1,392,828 |
| Kpmg LLP | Accounting | $1,224,250 |
| Cdw | It Service & Support | $1,102,962 |
Grants received · $2.6B total
17 grants to Ecmc Group Inc totaling $2.6B, reported by foundations on their Schedule I filings — showing the 15 most recent.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| Educational Credit Management Corporation | General support | 2024 | $128,892,000 |
| Ecmc Foundation | Twin cities impact | 2024 | $1,000,000 |
| Educational Credit Management Corporation | General support | 2023 | $265,138,829 |
| Ecmc Foundation | Question the quo, general support | 2023 | $1,682,000 |
| Educational Credit Management Corporation | General support | 2022 | $247,934,497 |
| Ecmc Foundation | Career readiness | 2022 | $500,000 |
| Educational Credit Management Corporation | Expand education opportunities | 2021 | $277,387,239 |
| Ecmc Foundation | Education innovation ventures | 2021 | $200,000 |
| Educational Credit Management Corporation | Expand education opportunities | 2020 | $176,060,000 |
| Ecmc Foundation | Operational support | 2020 | $9,572,000 |
| Educational Credit Management Corporation | Expand education opportunities | 2019 | $200,000,000 |
| Ecmc Foundation | Education innovation ventures | 2019 | $50,000 |
| Educational Credit Management Corporation | Expand education opportunities | 2018 | $231,500,000 |
| Educational Credit Management Corporation | Expand education opportunities | 2017 | $308,000,000 |
| Educational Credit Management Corporation | Expand education opportunities | 2016 | $255,000,000 |
Grants made · $105.6M in FY2024
14 grants totaling $105.6M in FY2024. All grants made by Ecmc Group Inc →
| Recipient | Purpose | Amount |
|---|---|---|
| Ecmc Foundation | General support | $82,935,000 |
| Educational Credit Management Corporation | General support | $12,611,000 |
| Ecmc Education Inc | General support | $9,600,000 |
| University of Minnesota Foundation | John depodesta leadership program, program sponsorship | $193,700 |
| Reve Academy | Program sponsorship | $50,000 |
| Cristo Rey Jesuit High School Twin Cities | Corporate internship program | $48,750 |
| Junior Achievement USA | Program sponsorship, general support | $47,560 |
| Bestprep | Program sponsorship, general support | $25,500 |
| Jobs For the Future Inc | Program sponsorship | $21,800 |
| Junior Achievement of Sacramento | Program sponsorship, general support | $10,100 |
| H I R E D | Program sponsorship | $7,750 |
| Junior Achievement of Southern Ca | Program sponsorship | $7,500 |
| Matter | Program support | $5,100 |
| Reading Partners | General support | $5,013 |
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Compare Ecmc Group Inc
Frequently asked questions
- Is Ecmc Group Inc a legitimate nonprofit?
- Yes. Ecmc Group Inc is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 41-1991995, based in Minneapolis, Minnesota. Donations are tax-deductible.
- What is Ecmc Group Inc's EIN?
- Ecmc Group Inc's Employer Identification Number (EIN) is 41-1991995.
- How much revenue does Ecmc Group Inc report?
- Ecmc Group Inc reported $501,325,316 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- How much of Ecmc Group Inc's spending goes to programs?
- Ecmc Group Inc spends about 90% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Ecmc Group Inc have?
- CharityIndex grades Ecmc Group Inc A+, based on program efficiency and fundraising cost.
- How much does Ecmc Group Inc's highest-paid employee make?
- The highest reported compensation on Ecmc Group Inc's latest Form 990 is $1,373,427, paid to Daniel Fisher (President & Ceo).
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Data for Ecmc Group Inc (EIN 41-1991995) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.