Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1d · Related organizations

  $82,935,000

• 3 · Investment income

  total $499,495 · excluded $499,495

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

  other assets $862,440

• 7c · Gain or loss

  other assets -$862,440

• 7d · Net gain or loss

  total -$862,440 · excluded -$862,440

• 11d · All other revenue

  total $280 · excluded $280

• 11e · Other revenue, total

  $280

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $60,616,872 · program services $60,616,872

• 5 · Compensation of officers, directors and key employees

  total $915,447 · management and general $915,447

• 7 · Other salaries and wages

  total $6,581,195 · program services $5,415,138 · management and general $1,166,057

• 8 · Pension plan contributions

  total $279,338 · program services $229,845 · management and general $49,493

• 9 · Other employee benefits

  total $753,233 · program services $618,541 · management and general $134,692

• 10 · Payroll taxes

  total $390,424 · program services $321,249 · management and general $69,175

• 11b · Fees: legal

  total $109,978 · program services $2,696 · management and general $107,282

• 11c · Fees: accounting

  total $47,114 · management and general $47,114

• 11f · Fees: investment management

  total $355,159 · management and general $355,159

• 11g · Fees: other

  total $3,298,557 · program services $2,500 · management and general $3,296,057

• 13 · Office expenses

  total $553,221 · program services $393,867 · management and general $159,354

• 14 · Information technology

  total $353,374 · program services $251,585 · management and general $101,789

• 16 · Occupancy

  total $716,977 · program services $510,453 · management and general $206,524

• 17 · Travel

  total $782,844 · management and general $782,844

• 19 · Conferences, conventions and meetings

  total $518,093 · program services $368,857 · management and general $149,236

• 22 · Depreciation, depletion and amortization

  total $174,461 · program services $124,208 · management and general $50,253

• 23 · Insurance

  total $169,226 · management and general $169,226

• 24a · Other expenses: NON-EMPLOYEE EVENTS

  total $16,532 · program services $438 · management and general $16,094

• 24b · Other expenses: SALES TAX

  total $419 · management and general $419

• 24c · Other expenses: FILING FEES

  total $383 · management and general $383

• 24e · All other expenses

  total $262 · management and general $262

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $5,267,446 · end of year $12,547,953

• 4 · Accounts receivable

  beginning of year $21,012 · end of year $17,896

• 9 · Prepaid expenses and deferred charges

  beginning of year $2,183 · end of year $211,473

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

  $364,062

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

  $172,803

• 10c · Land, buildings and equipment, net

  beginning of year $101,586 · end of year $191,259

• 12 · Investments: other securities

  beginning of year $1,679,288,242 · end of year $1,920,384,504

• 13 · Investments: program-related

  beginning of year $13,247,727 · end of year $16,030,966

• 15 · Other assets

  beginning of year $833,060 · end of year $1,917,158

• 17 · Accounts payable and accrued expenses

  beginning of year $2,298,440 · end of year $3,866,555

• 18 · Grants payable

  beginning of year $34,981,745 · end of year $43,315,562

• 25 · Other liabilities

  beginning of year $1,398,592 · end of year $2,742,256

• 27 · Net assets without donor restrictions

  beginning of year $1,660,082,479 · end of year $1,901,376,836

The filer's explanations (Part III)

PART I, LINE 1A

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. PAYMENTS FOR BUSINESS USE OF PERSONAL RESIDENCE: ECMC FOUNDATION PAID TEMPORARY HOUSING IN LIEU OF HOTEL FOR THE PRESIDENT, JACOB FRAIRE. THIS BENEFIT WAS NOT TREATED AS TAXABLE COMPENSATION.

PART I, LINE 3

THE ONLY EXECUTIVE OFFICERS COMPENSATED BY ECMC FOUNDATION WAS THE PRESIDENT, JACOB FRAIRE, AND FORMER PRESIDENT, PETER 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 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

THE ONLY EXECUTIVE OFFICERS COMPENSATED BY ECMC FOUNDATION WAS THE PRESIDENT, JACOB FRAIRE, AND FORMER PRESIDENT, PETER 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

THE ONLY EXECUTIVE OFFICERS COMPENSATED BY ECMC FOUNDATION WAS THE PRESIDENT, JACOB FRAIRE, AND FORMER PRESIDENT, PETER 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.

Related partnerships

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

• 503 WWS INVESTORS LLC

  INVESTMENTS · DE

• CHLOE CAPITAL FUND I LP

  INVESTMENTS · DE

• COLT ENERGY OPPORTUNITIES II LLC

  INVESTMENTS · TX

• COMMONFUND CAP SECONDARIES OPP FUND

  INVESTMENTS · DE

• CRP VF IV GP LP

  INVESTMENTS · DE

• ECMC-UV CO-INVESTMENT FUND LP

  INVESTMENTS · DE

• FUND D-2 A SERIES OF RIOT VENTURES

  INVESTMENTS · DE

• FUND D-3 A SERIES OF RIOT VENTURES

  INVESTMENTS · DE

• GALAHAD INVESTORS EAU CLAIRE LLC

  INVESTMENTS · MN

• GALAHAD INVESTORS MAPLEWOOD LLC

  INVESTMENTS · MN

• GEM MINING 4 LLC

  INVESTMENTS · DE

• GENGLOBAL CORE LLC

  INVESTMENTS · DE

• ONRAMP EDUC & WORKFORCE INNOV FUND I

  INVESTMENTS · DE

• PC-1 DEVELOPERS LLC

  INVESTMENTS · NV

• R7 FAMILY FUND LP

  INVESTMENTS · DE

• RI FUND I A SERIES OF BOOST VC SPV LP

  INVESTMENTS · CJ

• SOLGEN CAPITAL PARTNERS I LP

  INVESTMENTS · DE

• TABOR OFFSHORE OPPORTUNITIES LTD

  INVESTMENTS · CJ

• UP FUND I A SERIES OF BOOST VC SPV LP

  INVESTMENTS · DE

• WY FUND I A SERIES OF BOOST VC SPV LP

  INVESTMENTS · DE

• ENHANCED US EQUITY LLC

  INVESTMENTS · DE

• PANORAMIC PARTNERS LP

  INVESTMENTS · DE

• BF-ECMC RTL LLC

  INVESTMENTS · DE

• GOLD HYDROGEN 8090 INDUSTRIES

  INVESTMENTS · DE

• BIOSPRING PARTNERS I KINICITI

  INVESTMENTS · DE

• REGENT 8090 INDUSTRIES LLC

  INVESTMENTS · DE

• SYNERGIS CAPITAL SPC - FORCE 1 SP

  INVESTMENTS · CJ

• VVP ZIPARI CO-INVESTMENT LLC

  INVESTMENTS · DE

• BST 052 A SERIES OF SAX CAPITAL SERIES FUND III LP

  INVESTMENTS · DE

• ONRAMP EDUC & WORKFORCE INNOV FUND II

  INVESTMENTS · DE

Related corporations and trusts

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

• OAKDALE INVESTMENT MANAGEMENT CORPORATION

  C · HOLDING INVESTMENTS · DE

• ECMC HOLDINGS CORPORATION

  C · STRATEGIC OVERSIGHT · DE