Skip to content
Nonprofiteer
← ASCENDIUM EDUCATION GROUP INC

Form 990 for tax year 2023

Filed by ASCENDIUM EDUCATION GROUP INC.

Totals

Total revenue
$78,403,388
Total expenses
$12,531,647
Contributions and grants received
$0
Grants paid
$2,000
Program service revenue
$1,186,288
Investment income
$77,207,155
Other revenue
$9,945
Total assets, end of year
$3,022,286,011
Total liabilities, end of year
$5,766,249
Net assets or fund balances, end of year
$3,016,519,762
Program services expenses (Part IX)
$6,857,460
Management and general expenses
$5,674,187
Fundraising expenses
$0
Program service expenses (Part III)
$6,857,460

Program services were 54.7% 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.

  • 2a · Program service revenue: Contracted Revenue Share

    total $1,186,288 · related or exempt $1,186,288

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $80,483,786 · excluded $80,483,786

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7a · Gross sales of assets other than inventory

    securities $53,227,899 · other assets $1,740

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

    securities $56,504,569 · other assets $1,701

  • 7c · Gain or loss

    securities -$3,276,670 · other assets $39

  • 7d · Net gain or loss

    total -$3,276,631 · excluded -$3,276,631

  • 11a · Other revenue: MISCELLANEOUS REVENUE

    total $9,945 · excluded $9,945

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $9,945

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,000 · program services $2,000

  • 5 · Compensation of officers, directors and key employees

    total $4,352,991 · program services $1,615,822 · management and general $2,737,169

  • 7 · Other salaries and wages

    total $9,079,494 · program services $5,400,071 · management and general $3,679,423

  • 8 · Pension plan contributions

    total $679,788 · program services $404,307 · management and general $275,481

  • 9 · Other employee benefits

    total $1,296,058 · program services $770,837 · management and general $525,221

  • 10 · Payroll taxes

    total $595,835 · program services $354,376 · management and general $241,459

  • 11b · Fees: legal

    total $145,947 · program services $48,163 · management and general $97,784

  • 11c · Fees: accounting

    total $233,372 · program services $203,338 · management and general $30,034

  • 11f · Fees: investment management

    total $5,637,329 · management and general $5,637,329

  • 11g · Fees: other

    total $3,668,210 · program services $517,664 · management and general $3,150,546 · fundraising $0

  • 12 · Advertising and promotion

    total $130,240 · program services $107,126 · management and general $23,114

  • 13 · Office expenses

    total $2,256,733 · program services $427,957 · management and general $1,828,776

  • 16 · Occupancy

    total $850,010 · program services $5,453 · management and general $844,557

  • 17 · Travel

    total $280,087 · program services $229,917 · management and general $50,170

  • 19 · Conferences, conventions and meetings

    total $213,345 · program services $133,717 · management and general $79,628

  • 22 · Depreciation, depletion and amortization

    total $1,172,801 · program services $790 · management and general $1,172,011

  • 23 · Insurance

    total $1,621,706 · program services $72 · management and general $1,621,634

  • 24a · Other expenses: SERVICE ARRANGEMENT FEES

    total $2,666,988 · program services $559,676 · management and general $2,107,312

  • 24b · Other expenses: THIRD PARTY SERVICE EXPENSE

    total $5,660,945 · program services $1,188,798 · management and general $4,472,147

  • 24c · Other expenses: CORP SUPP FUNCT ALLOCATION

    total -$28,217,379 · program services -$5,168,581 · management and general -$23,048,798

  • 24d · Other expenses: MISCELLANEOUS

    total $205,147 · program services $55,957 · management and general $149,190

  • 24e · All other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,929 · end of year $4,946

  • 2 · Savings and temporary cash investments

    beginning of year $977,260,130 · end of year $1,079,633,598

  • 3 · Pledges and grants receivable

    beginning of year $0

  • 4 · Accounts receivable

    beginning of year $167,272,721 · end of year $115,716,607

  • 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 $2,575,000 · end of year $5,645,000

  • 8 · Inventories for sale or use

    beginning of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,183,564 · end of year $2,003,438

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

    $42,687,542

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

    $2,484,993

  • 10c · Land, buildings and equipment, net

    beginning of year $41,298,961 · end of year $40,202,549

  • 11 · Investments: publicly traded securities

    beginning of year $681,330 · end of year $0

  • 12 · Investments: other securities

    beginning of year $1,382,479,459 · end of year $1,748,426,083

  • 13 · Investments: program-related

    beginning of year $17,548,500 · end of year $20,173,500

  • 15 · Other assets

    beginning of year $8,154,481 · end of year $10,480,290

  • 17 · Accounts payable and accrued expenses

    beginning of year $5,786,125 · end of year $5,655,744

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 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 $101,870 · end of year $110,505

  • 27 · Net assets without donor restrictions

    beginning of year $2,593,571,080 · end of year $3,016,519,762

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $0

Mission and programs · 2023

Mission

ASCENDIUM EDUCATION GROUP, INC. OPERATES FOR THE SUPPORT AND BENEFIT OF ASCENDIUM EDUCATION SOLUTIONS, INC.

  • Impact investing is one of the key ways we accomplish our mission to champion opportunity for everyone. Our investments advance change to postsecondary education and workforce training systems through new technologies and solutions so more learners can achieve their academic and career goals through Education related venture equity investments.

    Expenses $4,512,417

  • ASCENDIUM EDUCATION GROUP, INC. OPERATES FOR THE SUPPORT AND BENEFIT OF ASCENDIUM EDUCATION SOLUTIONS, INC. (SOLUTIONS). SOLUTIONS SUPPORTS INCREASED ACCESS TO AND SUCCESS IN POSTSECONDAY EDUCATION AS A NATIONAL GRANTMAKER, A FEDERAL STUDENT LOAN GUARANTY AGENCY AND A PROVIDER OF STUDENT SUCCESS SERVICES.

    Expenses $2,345,043 · Grants $2,000 · Revenue $1,186,288

As filed on the 2023 return.

Listed in Part VII

  • Richard D George - 23

    CHAIR/PRES/CIO/TREAS

    Total calculated
    $915,782
    From this org
    $859,566
    From related orgs
    $0
    Other
    $56,216
    Hours/week
    33 + 17 related

    Schedule J breakdown matched by us

    Base
    $394,725
    Bonus
    $461,176
    Other
    $3,665
    Deferred
    $19,200
    Nontaxable benefits
    $37,016
    Filer's total
    $915,782
  • David J Hanson - 1

    DIRECTOR, SECRETARY

    Total calculated
    $19,400
    From this org
    $9,700
    From related orgs
    $9,700
    Other
    $0
    Hours/week
    2 + 1 related
  • Emerson Brumback - 1

    DIRECTOR, VICE CHAIRMAN

    Total calculated
    $19,400
    From this org
    $9,700
    From related orgs
    $9,700
    Other
    $0
    Hours/week
    2 + 1 related
  • Joan Prince - 1

    DIRECTOR

    Total calculated
    $17,200
    From this org
    $17,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    3
  • Linda Hoeschler - 1

    DIRECTOR

    Total calculated
    $19,400
    From this org
    $19,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    3
  • Maria Gonzalez-Knavel - 1

    DIRECTOR

    Total calculated
    $19,400
    From this org
    $9,700
    From related orgs
    $9,700
    Other
    $0
    Hours/week
    2 + 1 related
  • Mary Burke - 1

    DIRECTOR

    Total calculated
    $19,400
    From this org
    $9,700
    From related orgs
    $9,700
    Other
    $0
    Hours/week
    2 + 1 related
  • Richard A Weiss - 1

    DIRECTOR

    Total calculated
    $23,800
    From this org
    $11,900
    From related orgs
    $11,900
    Other
    $0
    Hours/week
    2 + 1 related
  • Roger Ervin - 1

    DIRECTOR

    Total calculated
    $23,800
    From this org
    $23,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    3
  • Scott Klug - 1

    DIRECTOR

    Total calculated
    $21,600
    From this org
    $10,800
    From related orgs
    $10,800
    Other
    $0
    Hours/week
    2 + 1 related
  • Thomas Boldt - 1

    DIRECTOR

    Total calculated
    $23,800
    From this org
    $23,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    3
  • Brett G Lindquist - 3

    VP - STRATEGIC COMMUNICATIONS

    Total calculated
    $344,318
    From this org
    $288,046
    From related orgs
    $0
    Other
    $56,272
    Hours/week
    6 + 39 related

    Schedule J breakdown matched by us

    Base
    $136,213
    Bonus
    $151,133
    Other
    $700
    Deferred
    $17,985
    Nontaxable benefits
    $38,287
    Filer's total
    $344,318
  • Eric C Maly - 3

    VP - INFO SECURITY AND TECH

    Total calculated
    $302,146
    From this org
    $253,606
    From related orgs
    $0
    Other
    $48,540
    Hours/week
    12 + 33 related

    Schedule J breakdown matched by us

    Base
    $151,278
    Bonus
    $101,610
    Other
    $718
    Deferred
    $16,592
    Nontaxable benefits
    $31,948
    Filer's total
    $302,146
  • Hope E Merry - 3

    CHIEF FINANCIAL OFFICER

    Total calculated
    $471,616
    From this org
    $419,711
    From related orgs
    $0
    Other
    $51,905
    Hours/week
    27 + 23 related

    Schedule J breakdown matched by us

    Base
    $228,076
    Bonus
    $191,171
    Other
    $464
    Deferred
    $19,523
    Nontaxable benefits
    $32,382
    Filer's total
    $471,616
  • Jacqueline J Fairbairn - 3

    CHIEF COMPLIANCE OFFICER

    Total calculated
    $368,165
    From this org
    $0
    From related orgs
    $314,735
    Other
    $53,430
    Hours/week
    1 + 44 related

    Schedule J breakdown matched by us

    Base
    $0 + $147,173 related
    Bonus
    $0 + $166,240 related
    Other
    $0 + $1,322 related
    Deferred
    $0 + $19,560 related
    Nontaxable benefits
    $0 + $33,870 related
    Filer's total
    $0 + $368,165 related
  • Keith Witham - 3

    VP - EDUCATION PHILANTHROPY

    Total calculated
    $240,572
    From this org
    $210,760
    From related orgs
    $0
    Other
    $29,812
    Hours/week
    44

    Schedule J breakdown matched by us

    Base
    $180,598
    Bonus
    $29,703
    Other
    $459
    Deferred
    $14,524
    Nontaxable benefits
    $15,288
    Filer's total
    $240,572
  • Matthew R Harlowe - 3

    DIRECTOR INTERNAL AUDIT

    Total calculated
    $284,855
    From this org
    $251,257
    From related orgs
    $0
    Other
    $33,598
    Hours/week
    43 + 2 related

    Schedule J breakdown matched by us

    Base
    $139,789
    Bonus
    $111,200
    Other
    $268
    Deferred
    $16,248
    Nontaxable benefits
    $17,350
    Filer's total
    $284,855
  • Maureen L Harrill - 3

    VP - HUMAN RESOURCES

    Total calculated
    $277,652
    From this org
    $235,078
    From related orgs
    $0
    Other
    $42,574
    Hours/week
    12 + 33 related

    Schedule J breakdown matched by us

    Base
    $130,518
    Bonus
    $101,116
    Other
    $3,444
    Deferred
    $15,329
    Nontaxable benefits
    $27,245
    Filer's total
    $277,652
  • Rebecca E Rapp - 3

    GEN CNSL/CHIEF PRIVACY OFFICER/ASST SECRETARY

    Total calculated
    $353,708
    From this org
    $299,538
    From related orgs
    $0
    Other
    $54,170
    Hours/week
    31 + 14 related

    Schedule J breakdown matched by us

    Base
    $142,696
    Bonus
    $156,356
    Other
    $486
    Deferred
    $18,831
    Nontaxable benefits
    $35,339
    Filer's total
    $353,708
  • Alexander J Hammond

    SENIOR SECURITY ARCHITECT

    Total calculated
    $211,286
    From this org
    $177,767
    From related orgs
    $0
    Other
    $33,519
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $153,409
    Bonus
    $24,083
    Other
    $275
    Deferred
    $13,499
    Nontaxable benefits
    $20,020
    Filer's total
    $211,286
  • Bethany M Miller - 3

    DIRECTOR - LEARNING AND IMPACT

    Total calculated
    $211,491
    From this org
    $187,930
    From related orgs
    $0
    Other
    $23,561
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $167,746
    Bonus
    $19,878
    Other
    $306
    Deferred
    $13,214
    Nontaxable benefits
    $10,347
    Filer's total
    $211,491
  • Catherine M Risseeuw - 3

    MRG - HR TECHNOLOGY & COMP

    Total calculated
    $193,248
    From this org
    $149,116
    From related orgs
    $0
    Other
    $44,132
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $126,537
    Bonus
    $21,400
    Other
    $1,179
    Deferred
    $11,708
    Nontaxable benefits
    $32,424
    Filer's total
    $193,248
  • Jennifer M Krueger - 3

    DEPUTY GENERAL COUNSEL

    Total calculated
    $210,633
    From this org
    $168,311
    From related orgs
    $0
    Other
    $42,322
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $143,379
    Bonus
    $24,466
    Other
    $466
    Deferred
    $13,775
    Nontaxable benefits
    $28,547
    Filer's total
    $210,633
  • Richard T Schick - 3

    SR IT ARCHITECTURAL ENGINEER

    Total calculated
    $178,899
    From this org
    $155,382
    From related orgs
    $0
    Other
    $23,517
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $139,411
    Bonus
    $15,538
    Other
    $433
    Deferred
    $12,315
    Nontaxable benefits
    $11,202
    Filer's total
    $178,899
  • Amy S Kerwin - 3

    VP - EDUCATION PHILANTHROPY

    Total calculated
    $213,505
    From this org
    $194,043
    From related orgs
    $0
    Other
    $19,462
    Hours/week
    44 + 1 related

    Schedule J breakdown matched by us

    Base
    $38,689
    Bonus
    $155,000
    Other
    $354
    Deferred
    $13,052
    Nontaxable benefits
    $6,410
    Filer's total
    $213,505

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

  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

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

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

No itemized grants to organizations on this return.

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 corporations and trusts

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

  • NORTHSTAR EDUCATION SERVICES LLC

    C Corporation · SERVICE · WI · 100% owned · share of income -$2,694,865 · share of assets $3,290,121 · controlled entity

    Directly controlled by GROUP

Provenance

Return type
form_990
Tax year
2023
Filed
2 October 2024
IRS schema version
2023v5.1
Source object
202412769349300506

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.