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← ASCENDIUM EDUCATION GROUP INC

Form 990 for tax year 2024

Filed by ASCENDIUM EDUCATION GROUP INC.

Totals

Total revenue
$94,918,940
Total expenses
$14,289,952
Contributions and grants received
$0
Grants paid
$2,500
Program service revenue
$838,887
Investment income
$94,078,627
Other revenue
$1,426
Total assets, end of year
$3,555,116,130
Total liabilities, end of year
$5,945,911
Net assets or fund balances, end of year
$3,549,170,219
Program services expenses (Part IX)
$7,486,000
Management and general expenses
$6,803,952
Fundraising expenses
$0
Program service expenses (Part III)
$7,486,000

Program services were 52.4% 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 $838,887 · related or exempt $838,887

  • 2f · All other program service revenue

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

  • 3 · Investment income

    total $88,015,837 · excluded $88,015,837

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7a · Gross sales of assets other than inventory

    securities $84,546,642

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

    securities $80,532,352 · other assets -$2,048,500

  • 7c · Gain or loss

    securities $4,014,290 · other assets $2,048,500

  • 7d · Net gain or loss

    total $6,062,790 · excluded $6,062,790

  • 8c · Net income from fundraising events

    total $0

  • 11a · Other revenue: MISCELLANEOUS REVENUE

    total $1,426 · excluded $1,426

  • 11d · All other revenue

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

  • 11e · Other revenue, total

    $1,426

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,500 · program services $2,500

  • 5 · Compensation of officers, directors and key employees

    total $5,048,174 · program services $1,875,584 · management and general $3,172,590

  • 7 · Other salaries and wages

    total $10,038,851 · program services $8,125,008 · management and general $1,913,843

  • 8 · Pension plan contributions

    total $764,019 · program services $454,404 · management and general $309,615

  • 9 · Other employee benefits

    total $1,512,425 · program services $899,967 · management and general $612,458

  • 10 · Payroll taxes

    total $659,270 · program services $392,104 · management and general $267,166

  • 11b · Fees: legal

    total $325,163 · program services $107,305 · management and general $217,858

  • 11c · Fees: accounting

    total $267,973 · program services $231,113 · management and general $36,860

  • 11f · Fees: investment management

    total $5,924,347 · program services $4,336,777 · management and general $1,587,570

  • 11g · Fees: other

    total $1,438,838 · program services $291,300 · management and general $1,147,538 · fundraising $0

  • 12 · Advertising and promotion

    total $177,351 · program services $148,917 · management and general $28,434

  • 13 · Office expenses

    total $711,449 · program services $85,918 · management and general $625,531

  • 14 · Information technology

    total $2,133,337 · program services $373,343 · management and general $1,759,994

  • 16 · Occupancy

    total $838,502 · program services $3,492 · management and general $835,010

  • 17 · Travel

    total $326,552 · program services $249,458 · management and general $77,094

  • 19 · Conferences, conventions and meetings

    total $186,806 · program services $122,481 · management and general $64,325

  • 22 · Depreciation, depletion and amortization

    total $1,172,862 · program services $410 · management and general $1,172,452

  • 23 · Insurance

    total $1,388,959 · program services $170 · management and general $1,388,789

  • 24a · Other expenses: MISCELLANEOUS

    total $128,565 · program services $11,465 · management and general $117,100

  • 24b · Other expenses: DUES & MEMBERSHIPS

    total $71,892 · program services $34,837 · management and general $37,055

  • 24c · Other expenses: SERVICE ARRANGEMENT FEES

    total $3,002 · management and general $3,002

  • 24d · Other expenses: CORP SUPP FUNCT ALLOCATION

    total -$18,830,885 · program services -$10,260,553 · management and general -$8,570,332

  • 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 $4,946 · end of year $709,567

  • 2 · Savings and temporary cash investments

    beginning of year $1,079,633,598 · end of year $1,294,319,146

  • 4 · Accounts receivable

    beginning of year $115,716,607 · end of year $506,969

  • 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 $5,645,000 · end of year $6,602,000

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,003,438 · end of year $1,326,316

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

    $42,685,736

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

    $3,649,322

  • 10c · Land, buildings and equipment, net

    beginning of year $40,202,549 · end of year $39,036,414

  • 11 · Investments: publicly traded securities

    beginning of year $0

  • 12 · Investments: other securities

    beginning of year $1,748,426,083 · end of year $2,180,378,512

  • 13 · Investments: program-related

    beginning of year $20,173,500 · end of year $21,048,500

  • 15 · Other assets

    beginning of year $10,480,290 · end of year $11,188,706

  • 17 · Accounts payable and accrued expenses

    beginning of year $5,655,744 · end of year $5,810,939

  • 18 · Grants payable

    beginning of year $0

  • 19 · Deferred revenue

    beginning of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0

  • 21 · Escrow or custodial account liability

    beginning 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

  • 24 · Unsecured notes and loans payable

    beginning of year $0

  • 25 · Other liabilities

    beginning of year $110,505 · end of year $134,972

  • 27 · Net assets without donor restrictions

    beginning of year $3,016,519,762 · end of year $3,549,170,219

  • 28 · Net assets with donor restrictions

    beginning of year $0

Mission and programs · 2024

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 and debt investments.

    Expenses $4,336,777

  • 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 $3,149,223 · Grants $2,500 · Revenue $838,887

As filed on the 2024 return.

Listed in Part VII

  • Richard D George - 23

    CHAIR/PRES/CIO/TREAS

    Total calculated
    $922,505
    From this org
    $868,757
    From related orgs
    $0
    Other
    $53,748
    Hours/week
    33 + 17 related

    Schedule J breakdown matched by us

    Base
    $394,582
    Bonus
    $471,171
    Other
    $3,004
    Deferred
    $15,502
    Nontaxable benefits
    $38,246
    Filer's total
    $922,505

  • DARREN KING - 1

    DIRECTOR

    Total calculated
    $46,000
    From this org
    $23,000
    From related orgs
    $23,000
    Other
    $0
    Hours/week
    2 + 1 related

  • DAVID J HANSON - 1

    DIRECTOR

    Total calculated
    $46,000
    From this org
    $23,000
    From related orgs
    $23,000
    Other
    $0
    Hours/week
    2 + 1 related

  • EMERSON BRUMBACK - 1

    DIRECTOR - VICE CHAIRMAN

    Total calculated
    $37,000
    From this org
    $18,500
    From related orgs
    $18,500
    Other
    $0
    Hours/week
    2 + 1 related

  • JOAN PRINCE - 1

    DIRECTOR

    Total calculated
    $46,000
    From this org
    $46,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • LESLIE LENZO - 1

    DIRECTOR

    Total calculated
    $46,000
    From this org
    $23,000
    From related orgs
    $23,000
    Other
    $0
    Hours/week
    2 + 1 related

  • LINDA HOESCHLER - 1

    DIRECTOR

    Total calculated
    $46,000
    From this org
    $46,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • MARIA GONZALEZ-KNAVEL - 1

    DIRECTOR

    Total calculated
    $46,000
    From this org
    $23,000
    From related orgs
    $23,000
    Other
    $0
    Hours/week
    2 + 1 related

  • RICHARD A WEISS - 1

    DIRECTOR - SECRETARY

    Total calculated
    $46,000
    From this org
    $23,000
    From related orgs
    $23,000
    Other
    $0
    Hours/week
    2 + 1 related

  • ROGER ERVIN - 1

    DIRECTOR

    Total calculated
    $55,000
    From this org
    $55,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • SCOTT KLUG - 1

    DIRECTOR

    Total calculated
    $55,000
    From this org
    $27,500
    From related orgs
    $27,500
    Other
    $0
    Hours/week
    2 + 1 related

  • THOMAS BOLDT - 1

    DIRECTOR

    Total calculated
    $55,000
    From this org
    $55,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Brett G Lindquist - 3

    VP - COMMS AND CMNTY ENGMT

    Total calculated
    $355,040
    From this org
    $297,922
    From related orgs
    $0
    Other
    $57,118
    Hours/week
    6 + 39 related

    Schedule J breakdown matched by us

    Base
    $135,986
    Bonus
    $161,133
    Other
    $803
    Deferred
    $17,688
    Nontaxable benefits
    $39,430
    Filer's total
    $355,040

  • Eric C Maly - 3

    VP - INFO SECURITY AND TECH

    Total calculated
    $347,976
    From this org
    $292,950
    From related orgs
    $0
    Other
    $55,026
    Hours/week
    12 + 33 related

    Schedule J breakdown matched by us

    Base
    $150,901
    Bonus
    $141,249
    Other
    $800
    Deferred
    $18,052
    Nontaxable benefits
    $36,974
    Filer's total
    $347,976

  • Hope E Merry - 3

    CHIEF FINANCIAL OFFICER

    Total calculated
    $487,551
    From this org
    $429,284
    From related orgs
    $0
    Other
    $58,267
    Hours/week
    27 + 23 related

    Schedule J breakdown matched by us

    Base
    $227,348
    Bonus
    $201,163
    Other
    $773
    Deferred
    $22,316
    Nontaxable benefits
    $35,951
    Filer's total
    $487,551

  • Keith Witham - 3

    VP - EDUCATION PHILANTHROPY

    Total calculated
    $355,248
    From this org
    $317,685
    From related orgs
    $0
    Other
    $37,563
    Hours/week
    44

    Schedule J breakdown matched by us

    Base
    $181,082
    Bonus
    $136,117
    Other
    $486
    Deferred
    $18,409
    Nontaxable benefits
    $19,154
    Filer's total
    $355,248

  • Matthew R Harlowe - 3

    DIRECTOR - INTERNAL AUDIT

    Total calculated
    $308,672
    From this org
    $260,968
    From related orgs
    $0
    Other
    $47,704
    Hours/week
    43 + 2 related

    Schedule J breakdown matched by us

    Base
    $139,349
    Bonus
    $121,294
    Other
    $325
    Deferred
    $15,480
    Nontaxable benefits
    $32,224
    Filer's total
    $308,672

  • Maureen L Harrill - 3

    VP - HUMAN RESOURCES

    Total calculated
    $279,321
    From this org
    $245,757
    From related orgs
    $0
    Other
    $33,564
    Hours/week
    12 + 33 related

    Schedule J breakdown matched by us

    Base
    $130,973
    Bonus
    $111,111
    Other
    $3,673
    Deferred
    $6,138
    Nontaxable benefits
    $27,426
    Filer's total
    $279,321

  • Rebecca E Rapp - 3

    GEN CNSL/CHIEF PRIVACY OFFICER/ASST SECRETARY

    Total calculated
    $353,124
    From this org
    $309,412
    From related orgs
    $0
    Other
    $43,712
    Hours/week
    31 + 14 related

    Schedule J breakdown matched by us

    Base
    $142,468
    Bonus
    $166,350
    Other
    $594
    Deferred
    $6,169
    Nontaxable benefits
    $37,543
    Filer's total
    $353,124

  • Alexander J Hammond

    SENIOR SECURITY ARCHITECT

    Total calculated
    $214,407
    From this org
    $184,099
    From related orgs
    $0
    Other
    $30,308
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $156,758
    Bonus
    $27,045
    Other
    $296
    Deferred
    $5,227
    Nontaxable benefits
    $25,081
    Filer's total
    $214,407

  • Bethany M Miller - 3

    DIRECTOR - LEARNING AND IMPACT

    Total calculated
    $196,302
    From this org
    $175,283
    From related orgs
    $0
    Other
    $21,019
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $161,153
    Bonus
    $13,795
    Other
    $335
    Deferred
    $2,065
    Nontaxable benefits
    $18,954
    Filer's total
    $196,302

  • Carolynn E Lee

    DPTY DIR - EDUC GRANTMAKING

    Total calculated
    $186,148
    From this org
    $167,394
    From related orgs
    $0
    Other
    $18,754
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $152,239
    Bonus
    $14,855
    Other
    $300
    Deferred
    $3,001
    Nontaxable benefits
    $15,753
    Filer's total
    $186,148

  • Jacqueline J Fairbairn - 3

    CHIEF COMPLIANCE OFFICER

    Total calculated
    $373,840
    From this org
    $0
    From related orgs
    $326,146
    Other
    $47,694
    Hours/week
    1 + 44 related

    Schedule J breakdown matched by us

    Base
    $0 + $147,773 related
    Bonus
    $0 + $176,234 related
    Other
    $0 + $2,139 related
    Deferred
    $0 + $23,660 related
    Nontaxable benefits
    $0 + $24,034 related
    Filer's total
    $0 + $373,840 related

  • Jennifer M Krueger - 3

    DEPUTY GENERAL COUNSEL

    Total calculated
    $208,372
    From this org
    $169,546
    From related orgs
    $0
    Other
    $38,826
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $143,900
    Bonus
    $25,124
    Other
    $522
    Deferred
    $5,636
    Nontaxable benefits
    $33,190
    Filer's total
    $208,372

  • Jessa L Valentine

    DPTY DIR - LEARNING AND IMPACT

    Total calculated
    $212,481
    From this org
    $175,994
    From related orgs
    $0
    Other
    $36,487
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $166,318
    Bonus
    $9,154
    Other
    $522
    Deferred
    $6,631
    Nontaxable benefits
    $29,856
    Filer's total
    $212,481

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 -$4,984,542 · share of assets $1,565,894 · controlled entity

    Directly controlled by GROUP

Provenance

Return type
form_990
Tax year
2024
Filed
24 October 2025
IRS schema version
2024v5.1
Source object
202512979349302301

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