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← ECMC FOUNDATION

Form 990 for tax year 2022

Filed by ECMC FOUNDATION.

Totals

Total revenue
$501,684,291
Total expenses
$46,971,911
Contributions and grants received
$501,572,000
Grants paid
$38,654,823
Program service revenue
$0
Investment income
$109,687
Other revenue
$2,604
Total assets, end of year
$1,575,921,479
Total liabilities, end of year
$29,183,730
Net assets or fund balances, end of year
$1,546,737,749
Program services expenses (Part IX)
$42,857,201
Management and general expenses
$4,114,710
Fundraising expenses
$0
Program service expenses (Part III)
$42,857,201

Program services were 91.2% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1d · Related organizations

    $501,572,000

  • 1g · Noncash contributions included above

    $450,000,000

  • 3 · Investment income

    total $209,687 · excluded $209,687

  • 7b · Less cost or other basis and sales expenses

    other assets $100,000

  • 7c · Gain or loss

    other assets -$100,000

  • 7d · Net gain or loss

    total -$100,000 · excluded -$100,000

  • 11a · Other revenue: INTERCOMPANY SERVICING

    total $2,604 · excluded $2,604

  • 11e · Other revenue, total

    $2,604

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $38,654,823 · program services $38,654,823

  • 5 · Compensation of officers, directors and key employees

    total $1,264,537 · management and general $1,264,537

  • 7 · Other salaries and wages

    total $3,032,263 · program services $2,853,535 · management and general $178,728

  • 8 · Pension plan contributions

    total $134,287 · program services $126,372 · management and general $7,915

  • 9 · Other employee benefits

    total $227,020 · program services $213,639 · management and general $13,381

  • 10 · Payroll taxes

    total $201,452 · program services $189,578 · management and general $11,874

  • 11b · Fees: legal

    total $77,411 · management and general $77,411

  • 11c · Fees: accounting

    total $52,216 · management and general $52,216

  • 11f · Fees: investment management

    total $6,234 · management and general $6,234

  • 11g · Fees: other

    total $2,022,381 · program services $70,698 · management and general $1,951,683

  • 13 · Office expenses

    total $256,957 · program services $207,980 · management and general $48,977

  • 14 · Information technology

    total $169,913 · program services $137,527 · management and general $32,386

  • 16 · Occupancy

    total $348,415 · program services $282,006 · management and general $66,409

  • 17 · Travel

    total $288,877 · management and general $288,877

  • 19 · Conferences, conventions and meetings

    total $83,960 · program services $54,812 · management and general $29,148

  • 22 · Depreciation, depletion and amortization

    total $81,828 · program services $66,231 · management and general $15,597

  • 23 · Insurance

    total $61,415 · management and general $61,415

  • 24e · All other expenses

    total $7,922 · management and general $7,922

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $9,324,068 · end of year $12,169,887

  • 2 · Savings and temporary cash investments

    beginning of year $0 · end of year $0

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $5,329 · end of year $630

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $202,880 · end of year $0

  • 10a · Land, buildings and equipment: cost or other basis

    $236,540

  • 10b · Land, buildings and equipment: accumulated depreciation

    $102,086

  • 10c · Land, buildings and equipment, net

    beginning of year $167,321 · end of year $134,454

  • 11 · Investments: publicly traded securities

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $1,072,454,019 · end of year $1,552,643,281

  • 13 · Investments: program-related

    beginning of year $7,311,160 · end of year $9,944,019

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $1,029,208

  • 17 · Accounts payable and accrued expenses

    beginning of year $522,533 · end of year $1,114,812

  • 18 · Grants payable

    beginning of year $26,246,740 · end of year $26,949,951

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $575,677 · end of year $1,118,967

  • 27 · Net assets without donor restrictions

    beginning of year $1,062,119,827 · end of year $1,546,737,749

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

Mission and programs · 2022

Mission

ECMC FOUNDATION'S MISSION IS TO IMPROVE HIGHER EDUCATION AND CAREER SUCCESS AMONG UNDERSERVED POPULATIONS THROUGH EVIDENCE-BASED INNOVATION.

Activities or mission (Part I)

SEE SCHEDULE OECMC FOUNDATION IS A GRANTMAKING FOUNDATION FOCUSED ON IMPROVING HIGHER EDUCATION AND CAREER SUCCESS AMONG UNDERSERVED POPULATIONS THROUGH EVIDENCE-BASED INNOVATION. ECMC FOUNDATION DOES THIS BY SUPPORTING THREE FOCUS AREAS: COLLEGE SUCCESS, CAREER READINESS AND EDUCATION INNOVATION VENTURES; AND USES A SPECTRUM OF FUNDING STRUCTURES, INCLUDING STRATEGIC GRANTMAKING AND PROGRAM-RELATED INVESTMENTS. SINCE INCEPTION, THE FOUNDATION HAS PROVIDED FUNDING IN 49 STATES.

  • COLLEGE SUCCESS.THE COLLEGE SUCCESS FOCUS AREA SEEKS TO INCREASE PERSISTENCE AND GRADUATION RATES OF STUDENTS WHO FACE SYSTEMIC CHALLENGES IN EARNING A BACHELOR'S DEGREE. THESE STUDENTS INCLUDE, BUT ARE NOT LIMITED TO, FIRST-GENERATION COLLEGE STUDENTS, STUDENTS FROM LOW-INCOME BACKGROUNDS AND STUDENTS OF COLOR. THE PROGRAM FUNDS POSTSECONDARY PROGRAMS AND INITIATIVES THAT IMPROVE AND SCALE SYSTEMIC REFORMS AND SUPPORTS TO INCREASE STUDENT SUCCESS AT POSTSECONDARY INSTITUTIONS; INCREASE CURRENTLY ENROLLED STUDENTS' PERSISTENCE TOWARD A DEGREE; SUPPORT ON TIME TRANSFER FROM TWO-YEAR TO FOUR-YEAR INSTITUTIONS; ENHANCE STUDENTS' PATHWAYS TO GRADUATION WITH CAREER-READY SKILLS; AND EVALUATE NEW RESEARCH FINDINGS AND PUBLICATIONS THAT PROMOTE STUDENT SUCCESS OUTCOMES. COLLEGE SUCCESS CURRENTLY FOCUSES ITS GRANTMAKING TOWARD PROGRAMS, INSTITUTIONAL NETWORKS, RESEARCH AND POLICY THAT ADDRESS BASIC NEEDS, IMPROVING CREDIT MOBILITY AND TRANSFER, ENHANCING STUDENT-CENTERED SUPPORT AND REFORMING SYSTEMIC APPROACHES TO ENHANCE COMPLETION. ADDITIONALLY, COLLEGE SUCCESS HAS MADE SIGNIFICANT INVESTMENTS IN COALITION EFFORTS WORKING TO MOVE THE NEEDLE ON KEY ISSUES: BASIC NEEDS INITIATIVE AND CATALYZING TRANSFER INITIATIVE.DURING 2022, ECMC FOUNDATION EVALUATED ITS CURRENT STRATEGIC APPROACH TO GRANT MAKING AND INVESTING TO INCORPORATE ITS LEARNINGS OVER THE YEARS. AS A RESULT, ECMC FOUNDATION EXPANDED ITS COMMITMENT TO DRIVE SYSTEMIC CHANGE IN THE POSTSECONDARY ECOSYSTEM. THE NEW STRATEGIC FRAMEWORK FOCUSES ON REMOVING BARRIERS FROM STUDENTS, BUILDING CAPACITY WITHIN THE EDUCATION SECTOR AND TRANSFORMING THE OVERALL HIGHER EDUCATION ECOSYSTEM, WITH A FOCUS ON CONTINUOUS MEASUREMENT, LEARNING AND EVALUATION.

    Expenses $16,585,549 · Grants $15,559,750

  • CAREER READINESS.THE CAREER READINESS FOCUS AREA SUPPORTS INNOVATIVE APPROACHES AND PROMISING PRACTICES TO IMPROVE THE SUCCESS OF STUDENTS FROM UNDERSERVED BACKGROUNDS SEEKING ACADEMIC CREDENTIALS IN POSTSECONDARY CAREER AND TECHNICAL EDUCATION (CTE) PROGRAMS. GRANTS MADE AS PART OF THE CAREER READINESS FOCUS AREA FUND PROJECTS, PROGRAMS AND INITIATIVES THAT AIM TO ENABLE INSTITUTIONS AND ORGANIZATIONS TO IMPLEMENT INNOVATIVE APPROACHES TO IMPROVING POSTSECONDARY CTE (E.G., INITIATIVES FOR SINGLE MOTHER STUDENT SUCCESS, IMPROVING ONLINE CTE AND CTE LEADERSHIP COLLABORATIVE) AND GENERATE LEARNINGS THAT WILL BE BENEFICIAL TO THE FIELD, TO UTILIZE INTERMEDIARIES TO BUILD THE CAPACITY OF INSTITUTIONS AND ORGANIZATIONS TO SUSTAIN AND SCALE PROMISING PRACTICES AND TO SUPPORT ORGANIZATIONS TO RESEARCH, EVALUATE AND SHARE EFFORTS TO IMPROVE PRACTICE AND INFORM POLICY. THE PROGRAM IS ROOTED IN THE BELIEF THAT LEARNERS WHO COMPLETE CREDIT-BEARING PROGRAMS AND EARN ACADEMIC CREDENTIALS WILL EXPERIENCE IMPROVED ECONOMIC STABILITY AND INCREASED SOCIAL MOBILITY.

    Expenses $14,403,612 · Grants $13,454,620

  • EDUCATION INNOVATION VENTURES.ECMC FOUNDATION'S EDUCATION INNOVATION VENTURES (EIV) PROGRAM MAKES BELOW-MARKET-RATE INVESTMENTS INTO NONPROFIT AND FOR-PROFIT VENTURES THAT SEEK TO GENERATE BOTH SOCIAL IMPACT AND FINANCIAL RETURNS. COMPLEMENTING ECMC FOUNDATION'S STRATEGIC GRANTMAKING, THE EIV PROGRAM USES A FULL SPECTRUM OF PROGRAM-RELATED INVESTMENTS, INCLUDING DEBT AND EQUITY INSTRUMENTS, TO PROVIDE CATALYTIC, RISK CAPITAL TO EARLY-STAGE VENTURES WORKING TO INCREASE POSTSECONDARY EDUCATIONAL OUTCOMES AND ECONOMIC MOBILITY AMONG LEARNERS AND JOBSEEKERS FROM SYSTEMICALLY DISADVANTAGED BACKGROUNDS. FINANCIAL RETURNS ARE REINVESTED INTO ADDITIONAL PROGRAM-RELATED INVESTMENTS, ALLOWING ECMC FOUNDATION TO RECYCLE INVESTMENT DOLLARS TO FUND FURTHER IMPACT INITIATIVES AND DRIVE CHANGES IN ECONOMIC MOBILITY FOR LEARNERS AND JOBSEEKERS. AT YEAR END 2022, ECMC FOUNDATION HAS DEPLOYED NEARLY $12 MILLION IN PROGRAM-RELATED INVESTMENTS TO COMPLEMENT THE GRANTMAKING IN COLLEGE SUCCESS AND CAREER READINESS PROGRAMS.

    Expenses $452,480 · Grants $20,000

  • OTHER PROGRAMS.MISCELLANEOUS PROGRAMS AND ACTIVITIES FOR THE FURTHERANCE OF EDUCATIONAL OPPORTUNITIES THROUGH GRANTS, AWARDS AND RESEARCH ON THE MANAGEMENT OF EDUCATIONAL DEBT.GO! PROGRAM.ECMC FOUNDATION AWARDS GRANTS TO THE GENERATING OUTCOMES (GO!) PROGRAM, A CORPORATE INITIATIVE TO FUND EDUCATION INNOVATION BY FUNDING IDEAS AND PARTNERSHIPS THAT CAN BE EXAMINED FOR EFFECTIVENESS IN THE LOCAL COMMUNITIES OF THE ECMC GROUP, INC. EMPLOYEES. TO QUALIFY FOR PAYMENT OF A GO! PROGRAM GRANT, THE AWARDED RECIPIENT MUST BE A THIRD-PARTY NONPROFIT ENTITY OR A GOVERNMENTAL PARTNER, SUCH AS PUBLIC SCHOOLS, AND EXPEND THE GRANT AWARD FOR THE PURPOSE DESIGNATED IN THE RECIPIENT'S GRANT PROPOSAL. IN 2022, ECMC FOUNDATION AWARDED GRANTS RANGING FROM $5,000 TO $20,000 EACH TO 111 ORGANIZATIONS FOR A TOTAL OF $1.09 MILLION.

    Expenses $11,415,560 · Grants $9,620,453

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • James V McKeon

    BOARD CHAIR NOT PD BY FDN

    Total calculated
    $196,250
    From this org
    $0
    From related orgs
    $196,250
    Other
    $0
    Hours/week
    3 + 15 related

    Schedule J breakdown matched by us

    Base
    $0 + $196,250 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $196,250 related

  • Maurice M Salter

    DIRECTOR NOT PD BY FDN

    Total calculated
    $157,500
    From this org
    $0
    From related orgs
    $157,500
    Other
    $0
    Hours/week
    2 + 9 related

    Schedule J breakdown matched by us

    Base
    $0 + $157,500 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $157,500 related

  • Julia S Gouw

    DIRECTOR NOT PD BY FDN

    Total calculated
    $155,000
    From this org
    $0
    From related orgs
    $155,000
    Other
    $0
    Hours/week
    2 + 7 related

    Schedule J breakdown matched by us

    Base
    $0 + $155,000 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $155,000 related

  • K Paul Singh

    DIRECTOR NOT PD BY FDN

    Total calculated
    $152,500
    From this org
    $0
    From related orgs
    $152,500
    Other
    $0
    Hours/week
    2 + 6 related

    Schedule J breakdown matched by us

    Base
    $0 + $152,500 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $152,500 related

  • Diana J Ingram

    DIRECTOR NOT PD BY FDN

    Total calculated
    $156,250
    From this org
    $0
    From related orgs
    $156,250
    Other
    $0
    Hours/week
    2 + 10 related

    Schedule J breakdown matched by us

    Base
    $0 + $156,250 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $156,250 related

  • Jack O'Connell

    DIRECTOR NOT PD BY FDN

    Total calculated
    $140,000
    From this org
    $0
    From related orgs
    $140,000
    Other
    $0
    Hours/week
    3 + 8 related

  • Derek Langhauser

    DIRECTOR NOT PD BY FDN

    Total calculated
    $137,500
    From this org
    $0
    From related orgs
    $137,500
    Other
    $0
    Hours/week
    2 + 8 related

  • Jennifer Anderson

    DIRECTOR NOT PD BY FDN

    Total calculated
    $132,500
    From this org
    $0
    From related orgs
    $132,500
    Other
    $0
    Hours/week
    2 + 9 related

  • James Runcie

    DIRECTOR NOT PD BY FDN

    Total calculated
    $127,500
    From this org
    $0
    From related orgs
    $127,500
    Other
    $0
    Hours/week
    2 + 10 related

  • Jeremy J Wheaton

    PRES & CEO-PART YR, SR ADVISOR

    Total calculated
    $1,324,035
    From this org
    $0
    From related orgs
    $1,271,506
    Other
    $52,529
    Hours/week
    0 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $408,446 related
    Bonus
    $0 + $800,000 related
    Other
    $0 + $63,060 related
    Deferred
    $0 + $18,300 related
    Nontaxable benefits
    $0 + $34,229 related
    Filer's total
    $0 + $1,324,035 related

  • Daniel S Fisher

    GRP PRES & CEO (EFF 7-3-22)

    Total calculated
    $1,125,940
    From this org
    $0
    From related orgs
    $1,013,493
    Other
    $112,447
    Hours/week
    0 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $484,979 related
    Bonus
    $0 + $504,688 related
    Other
    $0 + $23,826 related
    Deferred
    $0 + $78,235 related
    Nontaxable benefits
    $0 + $34,212 related
    Filer's total
    $0 + $1,125,940 related

  • Peter J Taylor

    PRESIDENT & DIRECTOR

    Total calculated
    $897,828
    From this org
    $719,867
    From related orgs
    $0
    Other
    $177,961
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $495,758
    Bonus
    $100,000
    Other
    $124,109
    Deferred
    $155,065
    Nontaxable benefits
    $22,896
    Filer's total
    $897,828

  • Martin A Scanlon

    CFO & TREASURER

    Total calculated
    $948,962
    From this org
    $0
    From related orgs
    $851,966
    Other
    $96,996
    Hours/week
    0 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $415,034 related
    Bonus
    $0 + $412,500 related
    Other
    $0 + $24,432 related
    Deferred
    $0 + $68,435 related
    Nontaxable benefits
    $0 + $28,561 related
    Filer's total
    $0 + $948,962 related

  • Lynn Alvarez

    VP FDN PROGRAMS & STRATEGY

    Total calculated
    $366,709
    From this org
    $310,045
    From related orgs
    $0
    Other
    $56,664
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $305,531
    Bonus
    $0
    Other
    $4,514
    Deferred
    $36,877
    Nontaxable benefits
    $19,787
    Filer's total
    $366,709

  • Brian Boardman

    GRP GENERAL COUNSEL & CORP SEC

    Total calculated
    $458,698
    From this org
    $0
    From related orgs
    $382,212
    Other
    $76,486
    Hours/week
    0 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $264,020 related
    Bonus
    $0 + $110,925 related
    Other
    $0 + $7,267 related
    Deferred
    $0 + $39,552 related
    Nontaxable benefits
    $0 + $36,934 related
    Filer's total
    $0 + $458,698 related

  • Stephen Handel

    PROGRAM OFFICER SENIOR

    Total calculated
    $146,942
    From this org
    $131,287
    From related orgs
    $0
    Other
    $15,655
    Hours/week
    40

  • Jennifer E Zeisler

    SR DIR, PROGRAM MANAGEMENT

    Total calculated
    $223,660
    From this org
    $189,168
    From related orgs
    $0
    Other
    $34,492
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $187,668
    Bonus
    $0
    Other
    $1,500
    Deferred
    $22,820
    Nontaxable benefits
    $11,672
    Filer's total
    $223,660

  • Jessica E Haselton

    DIR, EDUCATION INNOV VENTURES

    Total calculated
    $218,415
    From this org
    $168,714
    From related orgs
    $0
    Other
    $49,701
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $167,255
    Bonus
    $0
    Other
    $1,459
    Deferred
    $14,032
    Nontaxable benefits
    $35,669
    Filer's total
    $218,415

  • Sarah Belnick

    SR DIR, PROGRAM MANAGEMENT

    Total calculated
    $212,891
    From this org
    $169,273
    From related orgs
    $0
    Other
    $43,618
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $168,427
    Bonus
    $0
    Other
    $846
    Deferred
    $20,716
    Nontaxable benefits
    $22,902
    Filer's total
    $212,891

  • Loraine Park

    SR MGR, LEARNING & IMPACT

    Total calculated
    $171,084
    From this org
    $128,775
    From related orgs
    $0
    Other
    $42,309
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $127,574
    Bonus
    $0
    Other
    $1,201
    Deferred
    $16,147
    Nontaxable benefits
    $26,162
    Filer's total
    $171,084

  • John F Depodesta

    FORMER BD CHAIR NOT PD BY FDN

    Total calculated
    $75,000
    From this org
    $0
    From related orgs
    $75,000
    Other
    $0
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $0 + $75,000 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $75,000 related

  • Roberta Cooper Ramo

    FORMER DIRECTOR NOT PD BY FDN

    Total calculated
    $60,000
    From this org
    $0
    From related orgs
    $60,000
    Other
    $0
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $0 + $60,000 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $60,000 related

  • I King Jordan

    FORMER DIRECTOR NOT PD BY FDN

    Total calculated
    $30,000
    From this org
    $0
    From related orgs
    $30,000
    Other
    $0
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $0 + $30,000 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $30,000 related

  • Gregory A Van Guilder

    FORMER CFO, ECMC GROUP CIO

    Total calculated
    $1,443,034
    From this org
    $0
    From related orgs
    $1,343,530
    Other
    $99,504
    Hours/week
    0 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $681,535 related
    Bonus
    $0 + $509,800 related
    Other
    $0 + $152,195 related
    Deferred
    $0 + $89,868 related
    Nontaxable benefits
    $0 + $9,636 related
    Filer's total
    $0 + $1,443,034 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · Tax indemnification and gross-up payments
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan
  • 5b · Pay contingent on a related organization's revenues
  • 6b · Pay contingent on a related organization's net earnings

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 1A
CERTAIN TAXABLE BENEFITS ARE GROSSED UP TO MAKE THE EMPLOYEE WHOLE; THIS HAS BEEN APPROVED BY THE BOARD OF DIRECTORS.
PART I, LINE 3
AS NOTED IN PART VII OF FORM 990 AND SCHEDULE J, PART II, THE ONLY EXECUTIVE OFFICER COMPENSATED BY ECMC FOUNDATION WAS THE PRESIDENT, PETER J. TAYLOR. ALL OTHER EXECUTIVE OFFICERS' COMPENSATION WAS PAID BY RELATED ORGANIZATIONS.
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 2022, GREGORY A. VAN GUILDER, DANIEL S. FISHER AND MARTIN A. SCANLON PARTICIPATED IN THE 457(F) PLAN, AND RECEIVED EMPLOYER CONTRIBUTIONS OF $8,268, $19,135, AND $9,335, RESPECTIVELY, AND PETER J. TAYLOR PARTICIPATED IN THE SERP PLAN, AND RECEIVED AN EMPLOYER CONTRIBUTION OF $100,765.
PART I, LINE 5
AS NOTED IN PART VII OF FORM 990 AND SCHEDULE J, PART II, THE ONLY EXECUTIVE OFFICER COMPENSATED BY ECMC FOUNDATION WAS THE PRESIDENT, PETER J. TAYLOR. ALL OTHER EXECUTIVE OFFICERS' COMPENSATION WAS PAID BY RELATED ORGANIZATIONS. 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
AS NOTED IN PART VII OF FORM 990 AND SCHEDULE J, PART II, THE ONLY EXECUTIVE OFFICER COMPENSATED BY ECMC FOUNDATION WAS THE PRESIDENT, PETER J. TAYLOR. ALL OTHER EXECUTIVE OFFICERS' COMPENSATION WAS PAID BY RELATED ORGANIZATIONS. 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.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

The 10 largest by cash amount. The API serves every itemized grant.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • 1 NORTH CHINA A EQUITY FUND LLC

    EXCLUDED · INVESTMENTS · DE

  • ATX A-TEAM THE GUILD LP

    EXCLUDED · INVESTMENTS · TX

  • AUBREY GEMS PARTNERS LP

    EXCLUDED · INVESTMENTS · NY

  • BST 052 A SERIES OF SAX CAP FUND III LP

    EXCLUDED · INVESTMENTS · DE

  • CHLOE CAPITAL FUND I LP

    EXCLUDED · INVESTMENTS · DE

  • COMMONFUND CAP SECONDARIES OPP FUND

    EXCLUDED · INVESTMENTS · DE

  • CRP VF IV GP LP

    EXCLUDED · INVESTMENTS · DE

  • ECMC-UV CO-INVESTMENT FUND LP

    EXCLUDED · INVESTMENTS · DE

  • ELEMENTS HEALTH VENTURES II LLC

    EXCLUDED · INVESTMENTS · DE

  • FUND D-2 RIOT VENTURES OPPORTUNITY FUND

    EXCLUDED · INVESTMENTS · DE

  • GEM MINING 4 LLC

    EXCLUDED · INVESTMENTS · DE

  • ONRAMP EDUC & WORKFORCE INNOV FUND

    EXCLUDED · INVESTMENTS · DE

  • PC-1 DEVELOPERS LLC

    EXCLUDED · INVESTMENTS · NV

  • R7 FAMILY FUND LP

    EXCLUDED · INVESTMENTS · DE

  • RI FUND I A SERIES OF BOOST VC SPV LP

    EXCLUDED · INVESTMENTS · CJ

  • SUPERIOR SOLUTIONS I LP

    EXCLUDED · INVESTMENTS · DE

  • TABOR MILLENNIAL FUND LP

    EXCLUDED · INVESTMENTS · DE

  • TABOR OFFSHORE OPPORTUNITIES LTD

    EXCLUDED · INVESTMENTS · CJ

  • UNLESS VENTURES LP

    EXCLUDED · INVESTMENTS · DE

  • UP FUND I A SERIES OF BOOST VC SPV LP

    EXCLUDED · INVESTMENTS · DE

  • WY FUND I A SERIES OF BOOST VC SPV LP

    EXCLUDED · INVESTMENTS · DE

  • GENGLOBAL CRYSTAL LLC

    EXCLUDED · INVESTMENTS · DE

  • GENGLOBAL SUNSHINE LLC

    EXCLUDED · INVESTMENTS · DE

  • UNLESS LGH SPV LLC

    EXCLUDED · INVESTMENTS · DE

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • OAKDALE INVESTMENT MANAGEMENT CORP

    C · HOLDING INVESTMENTS · DE

  • ECMC HOLDINGS CORPORATION

    C · STRATEGIC OVERSIGHT · DE

  • EDUCATIONAL CREDIT SERVICES COMPANY

    C · PRIVATE LOANS · DE

  • ECMC RECORDS & REC MGMT CORPORATION

    C · DOCUMENT MANAGEMENT · DE

  • ECMC MANAGEMENT SERVICES CORPORATION

    C · MANAGEMENT SERVICES · DE

  • ECMC TECHNOLOGY SERVICES COROPORATION

    C · TECHNOLOGY SERVICES · DE

  • ECMC SERVICING CORPORATION

    C · LOAN SERVICING · DE

  • ECMC PRIVATE MARKET OPPORTUNITIES LP

    C · INVESTMENTS · DE

Provenance

Return type
form_990
Tax year
2022
Filed
14 November 2023
IRS schema version
2022v5.0
Source object
202323189349316582

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