Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Apr 2001.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
86 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
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Who runs it and what they're paid
37 people listed on the 990; $10.7M paid to officers and key staff.
Daniel Fisher’s $1.4M as President & CEO is at the 84th percentile of top reported officer pay among 674 $100M+ education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.
Compensation history total reportable pay by year · 8 named individuals · Part VII
| Name | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|
| Jeremy Wheaton | $19,539 | $1,622,127 | — | — | — |
| Daniel Fisher | $1,373,427 | $1,268,659 | — | — | — |
| Gregory a Van Guilder | — | — | $1,343,530 | $1,338,903 | $1,072,370 |
| Jeremy J Wheaton | — | — | $1,271,506 | $1,241,931 | $1,136,906 |
| Gregory Van Guilder | $27,619 | $1,149,769 | — | — | — |
| Daniel S Fisher | — | — | $1,013,493 | $823,522 | $687,972 |
| Josh Slayton | — | — | $933,694 | $428,413 | $449,053 |
| Martin Scanlon | $903,005 | $918,311 | — | — | — |
Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.
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Questions the 990 asks
The form asks each of these directly. These are the filed answers.
- Family or business ties among officersPt VI · Ln 2Yes
- Top official's pay set by an independent reviewPt VI · Ln 15aYes
Programs and updates
Empowers underserved communities by funding, creating, and investing in innovative educational opportunities, grants, and sponsorships to help students thrive.
Questions for Ecmc Group INC
Your first name shows with your question. Ecmc Group INC answers here, for everyone.
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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.
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.
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.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2021 990, line by line.
Download 990
| Line | Start FY21 | End FY21 |
|---|---|---|
| Cash and savingsLn 1–2 | $341.8M | $318.6M |
| InvestmentsLn 11–13 | $4.29B | $5.39B |
| Land, buildings, equipmentLn 10c | $10.8M | $35.9M |
| Total assetsLn 16 | $4.73B | $5.81B |
| LiabilitiesLn 26 | $3.61B | $4.22B |
| Net assetsLn 32 | $1.12B | $1.59B |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $73.5M | $73.5M | ||
| Grants to domestic individualsLn 2 | $143K | $143K | ||
| Pay of current officers, directors and key staffLn 5 | $5.7M | $5.7M | ||
| Other salaries and wagesLn 7 | $6.9M | $1.9M | $5.0M | |
| Pension plan contributionsLn 8 | $260K | $47K | $213K | |
| Other employee benefitsLn 9 | $476K | $43K | $433K | |
| Payroll taxesLn 10 | $345K | $50K | $294K | |
| Legal feesLn 11b | $363K | $6K | $357K | |
| Accounting feesLn 11c | $549K | $549K | ||
| Investment management feesLn 11f | $2K | $2K | ||
| Other fees for servicesLn 11g | $9.4M | $8.5M | $867K | $0 |
| Office expensesLn 13 | $930K | $126K | $804K | |
| Information technologyLn 14 | $1.3M | $167K | $1.1M | |
| OccupancyLn 16 | $527K | $527K | ||
| TravelLn 17 | $129K | $59K | $70K | |
| Conferences, conventions and meetingsLn 19 | $27K | $4K | $23K | |
| InterestLn 20 | $38.1M | $38.1M | ||
| Payments to affiliatesLn 21 | $6.1M | $6.1M | ||
| Depreciation, depletion and amortizationLn 22 | $696K | $458K | $238K | |
| InsuranceLn 23 | $289K | $289K | ||
| Other expenses (24a–d)Ln 24 | $6.8M | $2.6M | $4.2M | |
| All other expensesLn 24e | $29K | $624 | $28K | $0 |
| Total functional expensesLn 25 | $152.5M | $131.8M | $20.6M | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2024 Latest | $501.3M | $281.0M | $220.3M | $1.3B | 990 PDF |
| FY2023 | $5.0B | $269.1M | $4.8B | $1.3B | 990 PDF |
| FY2022 | $467.3M | $680.2M | −$212.8M | $1.1B | 990 PDF |
| FY2021 Viewing | $564.0M | $152.5M | $411.5M | $1.6B | 990 PDF |
| FY2020 | $418.5M | $173.5M | $245.0M | $1.1B | 990 PDF |
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Schedules filed Part IV
See the full FY2021 990 (6 parts)
Part I · Summary $564,021,532 revenue, 12 lines filed
Part VI · Governance 9 of 10 board members independent, 1 to look at
Part VIII · Statement of revenue $564,021,532 across 8 lines filed
Part IX · Statement of functional expenses $152,473,246 across 22 lines filed
Part X · Balance sheet $5,806,492,820 assets, 18 lines filed
Part XI · Reconciliation of net assets $1,588,933,746 net assets at year end
Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File
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