2025-11-15T10:33:47-06:00 2024-12-31 135565207 KPMG LLP 350 N 5TH ST SUITE 600 MINNEAPOLIS MN 55401 990 2024-01-01 411991995 ECMC GROUP INC ECMC 6512210566 111 WASHINGTON AVE SO STE 1400 14 MINNEAPOLIS MN 55401 MARTIN A SCANLON CFO & TREASURER 6512210566 2025-11-13 1 0 SOPHIE R KING P02233384 6123055000 2025-11-14 2024 2025-03-06 01:10:19Z DANIEL S FISHER 111 WASHINGTON AVE SO STE 1400 1400 MINNEAPOLIS MN 55401 1668318469 0 X WWW.ECMCGROUP.ORG X 2000 DE TO HELP STUDENTS SUCCEED BY CREATING, PROVIDING AND INVESTING IN INNOVATIVE EDUCATIONAL OPPORTUNITIES. 9 8 245 0 31997479 7852436 266820829 129892000 191870698 177093028 4573551121 186593924 9321612 7746364 5041564260 501325316 93361722 105786344 0 0 11792601 12030158 0 0 0 163987204 163179330 269141527 280995832 4772422733 220329484 5293474958 5676831671 4017358201 4364904671 1276116757 1311927000 X ECMC GROUP, INC'S MISSION IS TO HELP STUDENTS SUCCEED BY CREATING, PROVIDING AND INVESTING IN INNOVATIVE EDUCATIONAL OPPORTUNITIES. 0 0 145524297 0 177093028 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. 105146000 105146000 0 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. 640344 640344 0 GRANTS & SPONSORSHIPS:GRANTS AND SPONSORSHIPS SUPPLIED BY ECMC GROUP, INC. TO SCHOOLS AND INDIVIDUALS IN SUPPORT OF ITS TAX-EXEMPT PURPOSE. 331374 0 0 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. 331374 0 0 251642015 1 1 0 1 0 0 0 0 0 0 1 1 1 0 1 1 0 1 0 0 1 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0 1 62 0 245 1 1 1 0 0 0 0 0 0 0 0 0 1 0 X 9 8 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA MN X MARTIN A SCANLON 6512210566 111 WASHINGTON AVE SO STE 1400 MINNEAPOLIS MN 55401 X DANIEL FISHER PRESIDENT & CEO 40.00 0.00 X X 1373427 0 130325 JAMES V MCKEON BOARD CHAIR 13.00 4.00 X 0 197500 0 DIANA J INGRAM DIRECTOR 7.00 3.00 X 0 151250 0 JACK O'CONNELL DIRECTOR 5.00 4.00 X 0 135000 0 JULIA S GOUW DIRECTOR 5.00 3.00 X 0 155000 0 DEREK LANGHAUSER DIRECTOR 5.00 4.00 X 0 127500 0 JAMES RUNCIE DIRECTOR 7.00 3.00 X 0 135000 0 JENNIFER ANDERSON DIRECTOR 6.00 3.00 X 0 138750 0 K PAUL SINGH DIRECTOR 10.00 3.00 X 0 145000 0 MARTIN SCANLON CFO & TREASURER 40.00 0.00 X 903005 0 108170 BRIAN BOARDMAN GENERAL COUNSEL & CORP SECRETARY 40.00 0.00 X 520510 0 91781 JOSEPH WATT VP, IMPACT INVESTING 40.00 0.00 X 358717 0 34075 HEIDI JOHNSON CHIEF OF STAFF 40.00 0.00 X 512190 0 91680 HUGH MCSHERRY VP, CORPORATE SERVICES 40.00 0.00 X 322981 0 64225 TIFFANY THOMPSON VP, FINANCE & CONTROLLER 40.00 0.00 X 333642 0 34352 ADAM TRAMPE VP, DEPUTY GENERAL COUNSEL 40.00 0.00 X 345308 0 68143 AARON WOODRICH VP, INFORMATION TECH 40.00 0.00 X 270117 0 73538 SARAH STREHL CHIEF HUMAN RESOURCES OFFICER 40.00 0.00 X 705672 0 100129 JOHN MCKENNELL CHIEF INFORMATION SECURITY OFFICER 40.00 0.00 X 347332 0 72468 IRIS CUMBERBATCH SR VP, CORPORATE AFFAIRS 40.00 0.00 X 513337 0 56246 RAHOUL GHOSE CHIEF INFORMATION OFFICER 40.00 0.00 X 660107 0 102291 JOSH ULLOM VP, APPLICATIONS & ANALYTICS 40.00 0.00 X 160412 0 34956 MATTHEW MIKULSKI VP, INTERNAL AUDIT 40.00 0.00 X 294197 0 53888 STEVE HANSEN VP, INFORMATION TECH-THRU 6/26 40.00 0.00 X 195904 0 22217 DEAN VANDECOEVERING SR DIR, FINANCE 40.00 0.00 X 274721 0 48059 STEVEN HUPERT DIR, INFORMATION TECH 40.00 0.00 X 256099 0 65589 ANN JOHNSTON SR DIR, IT BUSINESS OPERATIONS 40.00 0.00 X 275559 0 47093 JOHN YOPP DIR, SOFTWARE ENGINEERING 40.00 0.00 X 267325 0 55708 TROY GUNDERMAN DIR, LITIGATION 40.00 0.00 X 280025 0 65072 JEREMY WHEATON FORMER PRESIDENT & CEO 0.00 0.00 X 19539 0 0 JOHN F DEPODESTA FORMER BOARD CHAIR 0.00 0.00 X 0 60000 0 GREGORY VAN GUILDER FORMER CHIEF INVESTMENT OFFICER 0.00 40.00 X 27619 1179319 99362 PHILIP BECKER FORMER VP, INVESTMENTS 40.00 0.00 X 15075 436349 56076 9232820 2860668 1575443 139 1 1 0 NAVIENT SOLUTIONS INC 220 LASLEY AVE WILKES BARRE PA 18706 LOAN PORTFOLIO SERVICING 4589964 AMAZON WEB SERVICES INC PO BOX 84023 SEATTLE WA 98124 IT SERVICE & SUPPORT 3868787 SOLUTION DESIGN GROUP INC 7500 OLSON MEMIORIAL HWY STE 250 GOLDEN VALLEY MN 55427 IT SERVICE & SUPPORT 1392828 KPMG LLP PO BOX 120922 DALLAS TX 75312 ACCOUNTING 1224250 CDW PO BOX 75723 CHICAGO IL 60675 IT SERVICE & SUPPORT 1102962 35 129892000 129892000 STUDENT LOAN PORTFOLIO 900099 177093028 177093028 177093028 25883353 11289574 14593779 526109111 801594613 496401481 670591672 29707630 131002941 160710571 13396614 147313957 SERVICE FEES ON TRUST 541610 4090199 4090199 ADMINISTRATOR FEES 541610 3230092 3221092 9000 EXCISE TAX REFUNDS 900099 419158 419158 6915 6915 7746364 501325316 177093028 31997479 162342809 105641344 105641344 145000 145000 4057200 4057200 6708596 2259825 4448771 272392 115072 157320 634838 166571 468267 357132 142161 214971 766582 766582 490795 490795 83129 83129 145065 145065 12780714 6034845 6745869 1089877 59168 1030709 895432 105317 790115 437008 437008 416866 199669 217197 289666 18206 271460 132576111 132576111 4090199 4090199 7577435 7577435 201387 201387 UBI TAX EXPENSE 1319393 1319393 NON-EMPLOYEE EVENTS 15382 3732 11650 4289 1666 2623 280995832 251642015 29353817 0 32148619 58137588 192123007 269511790 17246124 16304411 9786258 9238109 42168925 37242754 14828912 4926171 434013918 337632889 2069629882 2355400425 2481748933 2579098183 23823395 27762405 18125910 18819700 5293474958 5676831671 19914744 18581310 2885869 3376171 316218000 758927021 3678339588 3584020169 4017358201 4364904671 X 1276116757 1311927000 1276116757 1311927000 5293474958 5676831671 X 220329484 -182881843 -1637398 X 0 1 X 1 0 X X 1 EDUCATIONAL CREDIT MANAGEMENT CORPORATION 411778617 10 1 12611000 331374 1 12611000 331374 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 PART I, LINE 12G, COLUMN (VI): ECMC GROUP, INC. PROVIDED $331,374 OF NONMONETARY SUPPORT TO EDUCATIONAL CREDIT MANAGEMENT CORPORATION FOR PUBLIC POLICY SERVICES RENDERED. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 0 0 0 0 1 83678 0 0 83678 0 PART II-B, LINE 1: GENERAL LOBBYING ACTIVITIES ON LEGISLATIVE ISSUES OF RELEVANCE TO SUPPORTED ORGANIZATION EDUCATIONAL CREDIT MANAGEMENT CORPORATION. 14648777 9971420 4677357 27360256 27170575 189681 159892 100759 59133 4926171 INV IN ECMC HOLDINGS CORPORATION 70888654 F INV IN OAKDALE INV MGMT CORP 2318481 F ALTERNATIVE INVESTMENTS 2029114161 F DIRECT INVESTMENTS 88138203 F IMPACT INVESTMENTS 164940926 F 2355400425 STUDENT LOAN REC-HELD FOR SALE 41713422 F STUDENT LOAN RECEIABLE-PLEDGED 2537384761 C 2579098183 FOUNDATION DEPOSITS IN ECMC GROUP, INC. APPORTIONED INVESTMENT POOL 1919989893 DEFERRED FINANCING FEES -14575005 OPERATING LEASE 7733731 DUE TO ECMC EDUCATION, INC 288 SECURED BORROWINGS OF ECMC GROUP STUDENT LOAN TRUST 2016-1 132864516 SECURED BORROWINGS OF ECMC GROUP STUDENT LOAN TRUST 2017-1 175099190 SECURED BORROWINGS OF ECMC GROUP STUDENT LOAN TRUST 2017-2 211986928 SECURED BORROWINGS OF ECMC GROUP STUDENT LOAN TRUST 2018-1 205081218 SECURED BORROWINGS OF ECMC GROUP STUDENT LOAN TRUST 2018-2 151018624 SECURED BORROWINGS OF ECMC GROUP STUDENT LOAN TRUST 2019-1 144907198 SECURED BORROWINGS OF ECMC GROUP STUDENT LOAN TRUST 2020-1 159874229 SECURED BORROWINGS OF ECMC GROUP STUDENT LOAN TRUST 2020-2 164881284 SECURED BORROWINGS OF ECMC GROUP STUDENT LOAN TRUST 2020-3 153708722 SECURED BORROWINGS OF ECMC GROUP STUDENT LOAN TRUST 2021-1 171449353 3584020169 X PART X, LINE 2: ECMC GROUP, ECMC, EDUCATION, AND 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 CARRY FORWARDS. 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. WITH FEW EXCEPTIONS, GROUP IS NO LONGER SUBJECT TO U.S. FEDERAL, STATE OR LOCAL INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR THE YEARS BEFORE 2020. IN THE EVENT OF ANY CURRENT OR FUTURE TAX ASSESSMENTS, HOLDINGS AND ITS SUBSIDIARIES HAVE ELECTED TO RECORD THE INCOME TAXES AND ANY RELATED INTEREST AND PENALTIES AS INCOME TAX EXPENSE ON GROUP'S CONSOLIDATED STATEMENTS OF ACTIVITIES. SCHEDULE D, PART X, LINE 1: $132,864,516 FLOATING RATE CLASS A NOTES SECURED BORROWING OF ECMC GROUP STUDENT LOAN TRUST 2016-1. $175,099,190 FLOATING RATE CLASS A NOTES SECURED BORROWING OF ECMC GROUP STUDENT LOAN TRUST 2017-1. $211,986,928 FLOATING RATE CLASS A NOTES SECURED BORROWING OF ECMC GROUP STUDENT LOAN TRUST 2017-2. $205,081,218 FLOATING RATE CLASS A NOTES SECURED BORROWING OF ECMC GROUP STUDENT LOAN TRUST 2018-1. $151,018,624 FLOATING RATE CLASS A NOTES SECURED BORROWING OF ECMC GROUP STUDENT LOAN TRUST 2018-2. $144,907,198 FLOATING RATE CLASS A NOTES SECURED BORROWING OF ECMC GROUP STUDENT LOAN TRUST 2019-1. $159,874,229 FLOATING RATE CLASS A NOTES SECURED BORROWING OF ECMC GROUP STUDENT LOAN TRUST 2020-1. $164,881,284 FLOATING RATE CLASS A NOTES SECURED BORROWING OF ECMC GROUP STUDENT LOAN TRUST 2020-2. $153,708,722 FLOATING RATE CLASS A NOTES SECURED BORROWING OF ECMC GROUP STUDENT LOAN TRUST 2020-3. $171,449,353 FLOATING RATE CLASS A NOTES SECURED BORROWING OF ECMC GROUP STUDENT LOAN TRUST 2021-1. ECMC GROUP STUDENT LOAN TRUST 2016-1, ECMC GROUP STUDENT LOAN TRUST 2017-1, ECMC GROUP STUDENT LOAN TRUST 2017-2, ECMC GROUP STUDENT LOAN TRUST 2018-1, ECMC GROUP STUDENT LOAN TRUST 2018-2, ECMC GROUP STUDENT LOAN TRUST 2019-1, ECMC GROUP STUDENT LOAN TRUST 2020-1, ECMC GROUP STUDENT LOAN TRUST 2020-2, ECMC GROUP STUDENT LOAN TRUST 2020-3 AND ECMC GROUP STUDENT LOAN TRUST 2021-1, ARE DELAWARE STATUTORY TRUSTS, THAT PURCHASE STUDENT LOANS AND ACCRUED INTEREST FROM PATRIOT STUDENT LOAN CAPITAL, LLC AND SECURITIZE THE ASSETS WITH AN ISSUANCE OF DEBT. THE SECURITIZATION USES A TWO-STEP STRUCTURE THAT LEGALLY ISOLATES THE TRANSFERRED ASSETS. THESE TRANSACTIONS ARE ACCOUNTED FOR AS AN ON-BALANCE SHEET SECURED BORROWING. PATRIOT STUDENT LOAN CAPITAL, LLC, A DISREGARDED ENTITY OF ECMC GROUP, INC., HOLDS THE PRIMARY BENEFICIAL INTEREST IN THE TRUST. ECMC GROUP, INC. IS THE PRIMARY BENEFICIARY OF THE SECURITIZATION TRUST AND IS REQUIRED TO CONSOLIDATE THE TRUST. SCHEDULE D, PART X, LINE 1: $1,919,989,893. AT DECEMBER 31, 2024, ECMC FOUNDATION WAS A PARTICIPANT IN THE ECMC GROUP, INC. APPORTIONED INVESTMENT POOL ("APPORTIONED INVESTMENT POOL"). A PORTION OF ECMC GROUP, INC.'S ASSETS ARE HELD IN THE ECMC GROUP, INC. INVESTMENT PORTFOLIO ASSET POOL, WHICH IS MANAGED BY ECMC GROUP, INC. PARTICIPATION IN THE APPORTIONED INVESTMENT POOL IS AVAILABLE TO ECMC GROUP, INC. AND ITS ELIGIBLE SUBSIDIARIES. INVESTMENTS IN THE APPORTIONED INVESTMENT POOL REPRESENT AN OWNERSHIP INTEREST IN THE INVESTMENT POOL, NOT IN THE UNDERLYING ASSETS THEMSELVES, AND ARE GENERALLY REDEEMABLE TO THE ELIGIBLE SUBSIDIARY UPON REQUEST. UNAPPORTIONED INVESTMENTS, NET, ARE NOT SUBJECT TO PARTICIPATION BY ECMC GROUP, INC.'S SUBSIDIARIES. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 545681000 EUROPE (INCLUDING ICELAND AND GREENLAND) 0 0 INVESTMENTS 48464000 NORTH AMERICA 0 0 INVESTMENTS 21764000 0 0 0 0 0 0 615909000 0 615909000 1 0 1 1 1 0 PART I, LINE 3: ACCRUAL 1 BESTPREP 7100 NORTHLAND CIR N STE 306 BROOKLYN PARK MN 55428 411265355 501(C)(3) 25500 0 PROGRAM SPONSORSHIP, GENERAL SUPPORT CRISTO REY JESUIT HIGH SCHOOL TWIN CITIES 2924 4TH AVE S MINNEAPOLIS MN 55408 260434536 501(C)(3) 48750 0 CORPORATE INTERNSHIP PROGRAM HIRED 217 5TH AVE N STE 300 MINNEAPOLIS MN 55401 416078344 501(C)(3) 7750 0 PROGRAM SPONSORSHIP JOBS FOR THE FUTURE 50 MILK ST 17TH FL BOSTON MA 02109 061164568 501(C)(3) 21800 0 PROGRAM SPONSORSHIP JUNIOR ACHIEVEMENT NORTH 1745 UNIVERSITY AVE W ST PAUL MN 55104 411424988 501(C)(3) 47560 0 PROGRAM SPONSORSHIP, GENERAL SUPPORT JUNIOR ACHIEVEMENT OF SACRAMENTO INC 3800 WATT AVE STE 285 SACRAMENTO CA 95821 946080866 501(C)(3) 10100 0 PROGRAM SPONSORSHIP, GENERAL SUPPORT JUNIOR ACHIEVEMENT OF SOUTHERN CALIFORNIA INC 6250 FOREST LAWN DR LOS ANGELES CA 90068 951799192 501(C)(3) 7500 0 PROGRAM SPONSORSHIP MATTER 7005 OXFORD ST ST LOUIS PARK MN 55426 371441658 501(C)(3) 5100 0 PROGRAM SUPPORT READING PARTNERS TWIN CITIES 2324 UNIVERSITY AVE W STE 105 ST PAUL MN 55114 770568469 501(C)(3) 5013 0 GENERAL SUPPORT REVE ACADEMY 807 BROADWAY ST NE STE 160 MINNEAPOLIS MN 55413 274148333 501(C)(3) 50000 0 PROGRAM SPONSORSHIP UNIVERSITY OF MINNESOTA FOUNDATION 321 19TH AVE S STE 4-300 MINNEAPOLIS MN 55455 416042488 501(C)(3) 193700 0 JOHN DEPODESTA LEADERSHIP PROGRAM, PROGRAM SPONSORSHIP ECMC EDUCATION INC 111 WASHINGTON AVE S STE 1400 MINNEAPOLIS MN 55401 472237488 501(C)(3) 9600000 0 GENERAL SUPPORT ECMC FOUNDATION 111 WASHINGTON AVE S STE 1400 MINNEAPOLIS MN 55401 411990628 501(C)(3) 82935000 0 GENERAL SUPPORT EDUCATIONAL CREDIT MANAGEMENT CORPORATION 111 WASHINGTON AVE S STE 1400 MINNEAPOLIS MN 55401 411778617 501(C)(3) 12611000 0 GENERAL SUPPORT 14 0 ROBERT A. STEIN SCHOLARSHIP 25 145000 PART I, LINE 2: ECMC GROUP, INC. IS THE SOLE MEMBER OF EDUCATIONAL CREDIT MANAGEMENT CORPORATION, ECMC FOUNDATION AND ECMC EDUCATION, INC. AND CLOSELY MONITORS THE USE OF THE CASH GRANT THROUGH REPORTS TO MANAGEMENT AND THE BOARD OF DIRECTORS ON A REGULAR BASIS. THE ROBERT A. STEIN 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. THE INDIVIDUAL SCHOLARSHIPS WERE AWARDED TO FURTHER THE INDIVIDUALS' EDUCATION. X X 1 1 X X X X X 0 1 0 0 1 0 1 0 0 DANIEL FISHER PRESIDENT & CEO 575192 0 769206 0 29029 0 90656 0 39669 0 1503752 0 0 0 GREGORY VAN GUILDER FORMER CHIEF INVESTMENT OFFICER 27242 499900 0 446024 377 233395 1638 86474 433 10817 29690 1276610 0 47485 MARTIN SCANLON CFO & TREASURER 416394 0 459850 0 26761 0 73791 0 34379 0 1011175 0 23000 0 SARAH STREHL CHIEF HUMAN RESOURCES OFFICER 360429 0 320365 0 24878 0 59567 0 40562 0 805801 0 21324 0 RAHOUL GHOSE CHIEF INFORMATION OFFICER 318909 0 310377 0 30821 0 59423 0 42868 0 762398 0 20621 0 BRIAN BOARDMAN GENERAL COUNSEL & CORP SECRETARY 334254 0 175875 0 10381 0 48740 0 43041 0 612291 0 7855 0 HEIDI JOHNSON CHIEF OF STAFF 247815 0 238494 0 25881 0 47665 0 44015 0 603870 0 10509 0 IRIS CUMBERBATCH SR VP, CORPORATE AFFAIRS 246652 0 239371 0 27314 0 39283 0 16963 0 569583 0 11083 0 PHILIP BECKER FORMER VP, INVESTMENTS 14999 374985 0 48000 76 13364 923 16419 1471 37263 17469 490031 0 12183 JOHN MCKENNELL CHIEF INFORMATION SECURITY OFFICER 245058 0 97997 0 4277 0 39308 0 33160 0 419800 0 1079 0 ADAM TRAMPE VP, DEPUTY GENERAL COUNSEL 217834 0 103622 0 23852 0 28717 0 39426 0 413451 0 1541 0 JOSEPH WATT VP, IMPACT INVESTING 250000 0 106875 0 1842 0 34075 0 0 0 392792 0 1231 0 HUGH MCSHERRY VP, CORPORATE SERVICES 225040 0 95333 0 2608 0 30548 0 33677 0 387206 0 294 0 TIFFANY THOMPSON VP, FINANCE & CONTROLLER 229878 0 102677 0 1087 0 32045 0 2307 0 367994 0 0 0 MATTHEW MIKULSKI VP, INTERNAL AUDIT 204162 0 87043 0 2992 0 27434 0 26454 0 348085 0 0 0 TROY GUNDERMAN DIR, LITIGATION 199817 0 72027 0 8181 0 33159 0 31913 0 345097 0 0 0 AARON WOODRICH VP, INFORMATION TECH 216980 0 51931 0 1206 0 30323 0 43215 0 343655 0 0 0 JOHN YOPP DIR, SOFTWARE ENGINEERING 213942 0 51651 0 1732 0 18379 0 37329 0 323033 0 0 0 DEAN VANDECOEVERING SR DIR, FINANCE 219157 0 54097 0 1467 0 33340 0 14719 0 322780 0 0 0 ANN JOHNSTON SR DIR, IT BUSINESS OPERATIONS 220690 0 52303 0 2566 0 31862 0 15231 0 322652 0 0 0 STEVEN HUPERT DIR, INFORMATION TECH 199347 0 47370 0 9382 0 29818 0 35771 0 321688 0 0 0 STEVE HANSEN VP, INFORMATION TECH-THRU 6/26 73953 0 96456 0 25495 0 15742 0 6475 0 218121 0 0 0 JAMES V MCKEON BOARD CHAIR 0 197500 0 0 0 0 0 0 0 0 0 197500 0 0 JOSH ULLOM VP, APPLICATIONS & ANALYTICS 159883 0 0 0 529 0 18069 0 16887 0 195368 0 0 0 JULIA S GOUW DIRECTOR 0 155000 0 0 0 0 0 0 0 0 0 155000 0 0 DIANA J INGRAM DIRECTOR 0 151250 0 0 0 0 0 0 0 0 0 151250 0 0 JOHN F DEPODESTA FORMER BOARD CHAIR 0 60000 0 0 0 0 0 0 0 0 0 60000 0 0 JEREMY WHEATON FORMER PRESIDENT & CEO 0 0 0 0 19539 0 0 0 0 0 19539 0 19539 0 PART I, LINE 1A TRAVEL FOR COMPANIONS: ECMC GROUP, INC.'S TRAVEL POLICY HAD AN EXCEPTION THAT WAS APPROVED BY THE CFO (AND DEVIATIONS FROM ANY PROVISION OF THE POLICY MUST BE APPROVED IN WRITING BY AN OFFICER IN CONJUNCTION WITH THE ECMC GROUP, INC. CFO). IN 2024, ECMC GROUP, INC. PAID TRAVEL EXPENSES FOR AN ECMC GROUP, INC. EMPLOYEE'S SPOUSE TO ATTEND A COMPANY-SPONSORED EVENT. THE EXCEPTION TO POLICY WAS APPROVED. TAX INDEMNIFICATION AND GROSS-UP PAYMENTS: CERTAIN TAXABLE BENEFITS ARE GROSSED UP TO MAKE THE EMPLOYEE WHOLE; THIS HAS BEEN APPROVED BY THE BOARD OF DIRECTORS. PART I, LINE 4B ECMC GROUP, INC. MAINTAINS A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN DESCRIBED IN SECTION 457(F), AND A SUPPLEMENTAL EMPLOYEE RETIREMENT PLAN (SERP), TO ATTRACT AND RETAIN EMPLOYEES, TYPICALLY IN MANAGEMENT POSITIONS. IN 2024, DANIEL FISHER AND MARTIN SCANLON PARTICIPATED IN THE 457(F) PLAN, AND RECEIVED EMPLOYER CONTRIBUTIONS OF $61,995 AND $9,391, RESPECTIVELY. PART I, LINE 5 ECMC GROUP, INC.'S ANNUAL OFFICER INCENTIVE PLAN REQUIRES ACHIEVEMENT OF STATED PRIMARY FINANCIAL GOALS, WHICH INCLUDES REVENUES, BEFORE ANY PAYMENT TO ANY OFFICER IS MADE. PART I, LINE 6 ECMC GROUP, INC.'S ANNUAL OFFICER INCENTIVE PLAN REQUIRES ACHIEVEMENT OF STATED KEY PERFORMANCE METRICS, WHICH INCLUDES NET EARNINGS, BEFORE ANY PAYMENT TO ANY OFFICER IS MADE. FORM 990, PART VI, SECTION A, LINE 6 EACH DIRECTOR OF THE ECMC GROUP, INC.'S BOARD OF DIRECTORS IS A MEMBER OF ECMC GROUP, INC. AT YEAR END 2024, THERE WERE 9 MEMBERS OF THE BOARD OF DIRECTORS AND, THEREFORE, 9 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 VI, SECTION A, 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. FORM 990, PART VI, SECTION B, LINE 11B ALL MEMBERS OF THE BOARD OF DIRECTORS AND EXECUTIVE MANAGEMENT OF ECMC GROUP, INC. AND ITS DISREGARDED ENTITIES 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. FORM 990, PART VI, SECTION B, LINE 12C OFFICERS, DIRECTORS AND ALL EMPLOYEES OF ECMC GROUP, INC. AND ECMC SHARED SERVICES COMPANY, LLC, A DISREGARDED ENTITY OF ECMC GROUP, INC., ARE REQUIRED TO REAFFIRM ON AN ANNUAL BASIS THEIR UNDERSTANDING OF THE COMPANY'S CONFLICT OF INTEREST POLICY. THE AFFIRMATION SPECIFICALLY REFERENCES THAT THE INDIVIDUAL WILL COMPLY WITH THE DIRECTIVES OF THE CONFLICT OF INTEREST POLICY. OFFICERS, DIRECTORS AND KEY EMPLOYEES ARE ALSO REQUIRED TO COMPLETE AN ANNUAL FORM 990 RELATIONSHIP DISCLOSURE DOCUMENT TO IDENTIFY ANY POTENTIAL CONFLICTS OF INTEREST. FINALLY, THE COMPANY'S VENDOR PROCUREMENT PROCESS INCLUDES QUESTIONS OF BUSINESS UNIT CONTRACT OWNERS TO DETERMINE IF ANY CONFLICTS OF INTEREST MAY EXIST. MONITORING AND ENFORCEMENT OF THE POLICY ARE ACCOMPLISHED THROUGH THE POLICY REAFFIRMATION PROCESS, AFFIRMATIVE DISCLOSURE REQUESTS AND THE POLICY REQUIREMENT THAT ALL CONFLICTS OF INTEREST BE REPORTED. IN CASES WHERE A POTENTIAL CONFLICT EXISTS AT THE OFFICER AND KEY EMPLOYEE LEVELS, THE ISSUE IS DISCLOSED TO THE INDIVIDUAL'S SUPERVISOR, GENERAL COUNSEL, AND/OR VICE PRESIDENT, DEPUTY GENERAL COUNSEL. FOR POTENTIAL CONFLICTS INVOLVING DIRECTORS, THE DISCLOSURE IS MADE TO THE BOARD (OR APPLICABLE COMMITTEE). THE DIRECTOR WILL BE REQUIRED TO EXCUSE THEMSELVES FROM DELIBERATION AND VOTING ON MATTERS FOR WHICH THEY MAY HAVE A CONFLICT OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 THE GOVERNANCE & COMPENSATION COMMITTEE OF THE ECMC GROUP, INC. BOARD OF DIRECTORS IS WHOLLY COMPRISED OF INDEPENDENT, OUTSIDE DIRECTORS. IN 2024, THE COMMITTEE RETAINED EXECUTIVE COMPENSATION EXPERTS FROM PEARL MEYER, A GLOBAL COMPENSATION CONSULTING ORGANIZATION, THROUGH ARNOLD & PORTER KAYE SCHOLER LLP TO IDENTIFY APPROPRIATE CEO AND SENIOR EXECUTIVE COMPENSATION PACKAGES. THE MARKET ANALYSIS PERFORMED BY PEARL MEYER FOR ARNOLD & PORTER KAYE SCHOLER LLP INCLUDES SALARY AND INCENTIVE DATA FROM AN APPROPRIATE PEER GROUP UNDER IRS REGULATIONS AND INCLUDES BOTH NONPROFIT AND FOR-PROFIT ENTITIES. FORM 990, PART VI, SECTION C, LINE 19 DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC AS REQUIRED BY LAW. FORM 990, PART VII, SECTION A: JOHN DEPODESTA, A FORMER DIRECTOR, HAD A CONSULTING AGREEMENT IN 2024. FORM 990, PART XI, LINE 9: RETURN OF CAPITAL DISTRIBUTION -1,287,059. DEEMED CAPITAL CONTRIBUTION TO ECMC FOUNDATION -350,339. 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