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Nonprofiteer
← ASCENDIUM EDUCATION GROUP INC

Form 990 for tax year 2022

Filed by ASCENDIUM EDUCATION GROUP INC.

Totals

Total revenue
$25,305,849
Total expenses
$70,596,121
Contributions and grants received
$0
Grants paid
$61,144,777
Program service revenue
$840,000
Investment income
$24,465,304
Other revenue
$545
Total assets, end of year
$2,599,459,075
Total liabilities, end of year
$5,887,995
Net assets or fund balances, end of year
$2,593,571,080
Program services expenses (Part IX)
$67,303,913
Management and general expenses
$3,292,208
Fundraising expenses
$0
Program service expenses (Part III)
$67,303,913

Program services were 95.3% 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.

  • 1a · Federated campaigns

    $0

  • 1b · Membership dues

    $0

  • 1c · Fundraising events

    $0

  • 1d · Related organizations

    $0

  • 1e · Government grants (contributions)

    $0

  • 1f · All other contributions, gifts and grants

    $0

  • 1g · Noncash contributions included above

    $0

  • 2a · Program service revenue: Contracted Revenue Share

    total $840,000 · related or exempt $840,000 · excluded $0

  • 2b · Program service revenue

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

  • 2c · Program service revenue

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

  • 2d · Program service revenue

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

  • 2e · Program service revenue

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

  • 2f · All other program service revenue

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

  • 3 · Investment income

    total $25,684,957 · unrelated business -$105,767 · excluded $25,790,724

  • 4 · Income from investment of tax-exempt bond proceeds

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

  • 5 · Royalties

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

  • 6a · Gross rents

    real property $0 · personal property $0

  • 6b · Less rental expenses

    real property $0 · personal property $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

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

  • 7a · Gross sales of assets other than inventory

    securities $34,423,401 · other assets $3,493

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

    securities $35,601,161 · other assets $45,386

  • 7c · Gain or loss

    securities -$1,177,760 · other assets -$41,893

  • 7d · Net gain or loss

    total -$1,219,653 · excluded -$1,219,653

  • 8a · Fundraising events: gross income

    $0

  • 8a · Fundraising events: contributions included on line 1c

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0 · unrelated business $0 · excluded $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

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

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

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

  • 11a · Other revenue: MISCELLANEOUS REVENUE

    total $545 · related or exempt $0 · unrelated business $0 · excluded $545

  • 11b · Other revenue

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

  • 11c · Other revenue

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

  • 11d · All other revenue

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

  • 11e · Other revenue, total

    $545

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $61,144,777 · program services $61,144,777

  • 2 · Grants to domestic individuals

    total $0 · program services $0

  • 3 · Grants to foreign organizations and individuals

    total $0 · program services $0

  • 4 · Benefits paid to or for members

    total $0 · program services $0

  • 5 · Compensation of officers, directors and key employees

    total $3,115,011 · program services $953,745 · management and general $2,161,266 · fundraising $0

  • 6 · Compensation of disqualified persons

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

  • 7 · Other salaries and wages

    total $9,013,357 · program services $8,262,535 · management and general $750,822 · fundraising $0

  • 8 · Pension plan contributions

    total $673,692 · program services $444,509 · management and general $229,183 · fundraising $0

  • 9 · Other employee benefits

    total $1,354,320 · program services $972,369 · management and general $381,951 · fundraising $0

  • 10 · Payroll taxes

    total $587,683 · program services $410,875 · management and general $176,808 · fundraising $0

  • 11a · Fees: management

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

  • 11b · Fees: legal

    total $944,850 · program services $285,956 · management and general $658,894 · fundraising $0

  • 11c · Fees: accounting

    total $203,258 · program services $0 · management and general $203,258 · fundraising $0

  • 11d · Fees: lobbying

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

  • 11e · Fees: professional fundraising services

    total $0 · fundraising $0

  • 11f · Fees: investment management

    total $4,076,540 · program services $0 · management and general $4,076,540 · fundraising $0

  • 11g · Fees: other

    total $2,573,906 · program services $290,452 · management and general $2,283,454 · fundraising $0

  • 12 · Advertising and promotion

    total $113,798 · program services $97,723 · management and general $16,075 · fundraising $0

  • 13 · Office expenses

    total $2,377,267 · program services $364,357 · management and general $2,012,910

  • 14 · Information technology

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

  • 15 · Royalties

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

  • 16 · Occupancy

    total $882,034 · program services $43,923 · management and general $838,111

  • 17 · Travel

    total $209,086 · program services $162,166 · management and general $46,920

  • 18 · Travel or entertainment for public officials

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

  • 19 · Conferences, conventions and meetings

    total $150,177 · program services $86,276 · management and general $63,901 · fundraising $0

  • 20 · Interest

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

  • 21 · Payments to affiliates

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

  • 22 · Depreciation, depletion and amortization

    total $1,166,822 · program services $1,088 · management and general $1,165,734 · fundraising $0

  • 23 · Insurance

    total $1,676,009 · program services $513,284 · management and general $1,162,725

  • 24a · Other expenses: SERVICE ARRANGEMENT FEES

    total $3,072,841 · program services $3,072,841

  • 24b · Other expenses: DUES AND MEMBERSHIPS

    total $63,699 · program services $30,511 · management and general $33,188 · fundraising $0

  • 24c · Other expenses: CORP SUPP FUNCT ALLOCATION

    total -$29,556,457 · program services -$12,078,995 · management and general -$17,477,462 · fundraising $0

  • 24d · Other expenses: MISCELLANEOUS

    total $6,753,451 · program services $2,245,521 · management and general $4,507,930 · fundraising $0

  • 24e · All other expenses

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

  • 26 · Joint costs (an allocation of the lines above)

    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 $894 · end of year $4,929

  • 2 · Savings and temporary cash investments

    beginning of year $1,269,231,590 · end of year $977,260,130

  • 3 · Pledges and grants receivable

    end of year $0

  • 4 · Accounts receivable

    end of year $167,272,721

  • 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

    end of year $2,575,000

  • 8 · Inventories for sale or use

    end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $169,485 · end of year $2,183,564

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

    $42,611,153

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

    $1,312,192

  • 10c · Land, buildings and equipment, net

    beginning of year $42,058,274 · end of year $41,298,961

  • 11 · Investments: publicly traded securities

    beginning of year $3,446,492 · end of year $681,330

  • 12 · Investments: other securities

    beginning of year $1,445,379,810 · end of year $1,382,479,459

  • 13 · Investments: program-related

    beginning of year $15,548,500 · end of year $17,548,500

  • 15 · Other assets

    beginning of year $5,965,029 · end of year $8,154,481

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,537,885 · end of year $5,786,125

  • 18 · Grants payable

    end of year $0

  • 19 · Deferred revenue

    end of year $0

  • 20 · Tax-exempt bond liabilities

    end of year $0

  • 21 · Escrow or custodial account liability

    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

    end of year $0

  • 24 · Unsecured notes and loans payable

    end of year $0

  • 25 · Other liabilities

    beginning of year $202,954 · end of year $101,870

  • 27 · Net assets without donor restrictions

    beginning of year $2,778,059,235 · end of year $2,593,571,080

  • 28 · Net assets with donor restrictions

    end of year $0

  • 29 · Capital stock, trust principal or current funds

    end of year $0

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

    end of year $0

  • 31 · Retained earnings, endowment or other funds

    end of year $0

Mission and programs · 2022

Mission

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

  • 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 $67,303,913 · Grants $61,144,777 · Revenue $840,000

As filed on the 2022 return.

Listed in Part VII

  • RICHARD D GEORGE - 23

    CHAIR/PRES/CIO/TREAS

    Total calculated
    $902,837
    From this org
    $848,497
    From related orgs
    $0
    Other
    $54,340
    Hours/week
    33 + 17 related

    Schedule J breakdown matched by us

    Base
    $394,832
    Bonus
    $450,000
    Other
    $3,665
    Deferred
    $18,200
    Nontaxable benefits
    $36,140
    Filer's total
    $902,837

  • DAVID J HANSON - 1

    DIRECTOR, SECRETARY

    Total calculated
    $17,200
    From this org
    $8,600
    From related orgs
    $8,600
    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
    $0
    Hours/week
    1 + 1 related

  • MARY BURKE - 1

    DIRECTOR

    Total calculated
    $17,200
    From this org
    $8,600
    From related orgs
    $8,600
    Other
    $0
    Hours/week
    2 + 1 related

  • RICHARD A WEISS - 1

    DIRECTOR

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

  • ROGER ERVIN - 1

    DIRECTOR

    Total calculated
    $21,600
    From this org
    $21,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • SCOTT KLUG - 1

    DIRECTOR

    Total calculated
    $23,800
    From this org
    $11,900
    From related orgs
    $11,900
    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

  • AMY S KERWIN - 3

    VP - EDUCATION PHILANTHROPY

    Total calculated
    $332,630
    From this org
    $289,078
    From related orgs
    $0
    Other
    $43,552
    Hours/week
    44

    Schedule J breakdown matched by us

    Base
    $143,374
    Bonus
    $145,000
    Other
    $704
    Deferred
    $17,303
    Nontaxable benefits
    $26,249
    Filer's total
    $332,630

  • BRETT G LINDQUIST - 3

    VP - STRATEGIC COMMUNICATIONS

    Total calculated
    $332,101
    From this org
    $277,226
    From related orgs
    $0
    Other
    $54,875
    Hours/week
    6 + 39 related

    Schedule J breakdown matched by us

    Base
    $136,526
    Bonus
    $140,000
    Other
    $700
    Deferred
    $17,560
    Nontaxable benefits
    $37,315
    Filer's total
    $332,101

  • ERIC C MALY - 3

    DIRECTOR INFO/TECHNOLOGY/SECURITY

    Total calculated
    $273,985
    From this org
    $227,358
    From related orgs
    $0
    Other
    $46,627
    Hours/week
    12 + 33 related

    Schedule J breakdown matched by us

    Base
    $151,640
    Bonus
    $75,000
    Other
    $718
    Deferred
    $15,701
    Nontaxable benefits
    $30,926
    Filer's total
    $273,985

  • HOPE E MERRY - 3

    CHIEF FINANCIAL OFFICER

    Total calculated
    $458,592
    From this org
    $409,184
    From related orgs
    $0
    Other
    $49,408
    Hours/week
    27 + 23 related

    Schedule J breakdown matched by us

    Base
    $228,720
    Bonus
    $180,000
    Other
    $464
    Deferred
    $18,329
    Nontaxable benefits
    $31,079
    Filer's total
    $458,592

  • JACQUELINE J FAIRBAIRN - 3

    CHIEF COMPLIANCE OFFICER

    Total calculated
    $358,316
    From this org
    $0
    From related orgs
    $302,969
    Other
    $55,347
    Hours/week
    15 + 44 related

    Schedule J breakdown matched by us

    Base
    $0 + $146,640 related
    Bonus
    $0 + $155,000 related
    Other
    $0 + $1,329 related
    Deferred
    $0 + $18,096 related
    Nontaxable benefits
    $0 + $37,251 related
    Filer's total
    $0 + $358,316 related

  • MATTHEW R HARLOWE - 3

    DIRECTOR INTERNAL AUDIT

    Total calculated
    $256,836
    From this org
    $240,268
    From related orgs
    $0
    Other
    $16,568
    Hours/week
    43 + 2 related

    Schedule J breakdown matched by us

    Base
    $145,000
    Bonus
    $95,000
    Other
    $268
    Deferred
    $15,417
    Nontaxable benefits
    $1,151
    Filer's total
    $256,836

  • MAUREEN L HARRILL - 3

    VP - HUMAN RESOURCES

    Total calculated
    $265,600
    From this org
    $224,068
    From related orgs
    $0
    Other
    $41,532
    Hours/week
    12 + 33 related

    Schedule J breakdown matched by us

    Base
    $130,624
    Bonus
    $90,000
    Other
    $3,444
    Deferred
    $14,840
    Nontaxable benefits
    $26,692
    Filer's total
    $265,600

  • REBECCA E RAPP - 3

    GEN CNSL & ASST SECRETARY

    Total calculated
    $337,016
    From this org
    $288,345
    From related orgs
    $0
    Other
    $48,671
    Hours/week
    31 + 14 related

    Schedule J breakdown matched by us

    Base
    $142,859
    Bonus
    $145,000
    Other
    $486
    Deferred
    $18,409
    Nontaxable benefits
    $30,262
    Filer's total
    $337,016

  • ALEXANDER J HAMMOND - 3

    SENIOR SECURITY ARCHITECT

    Total calculated
    $192,621
    From this org
    $159,406
    From related orgs
    $0
    Other
    $33,215
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $140,567
    Bonus
    $18,576
    Other
    $263
    Deferred
    $13,933
    Nontaxable benefits
    $19,282
    Filer's total
    $192,621

  • BETHANY M MILLER - 3

    DIRECTOR - LEARNING AND IMPACT

    Total calculated
    $194,370
    From this org
    $168,692
    From related orgs
    $0
    Other
    $25,678
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $158,281
    Bonus
    $10,105
    Other
    $306
    Deferred
    $14,349
    Nontaxable benefits
    $11,329
    Filer's total
    $194,370

  • JENNIFER M KRUEGER - 3

    DEPUTY GENERAL COUNSEL

    Total calculated
    $203,930
    From this org
    $159,870
    From related orgs
    $0
    Other
    $44,060
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $137,012
    Bonus
    $22,406
    Other
    $452
    Deferred
    $13,214
    Nontaxable benefits
    $30,846
    Filer's total
    $203,930

  • KEITH WITHAM - 3

    DIRECTOR - EDUCATION GRANTMAKING

    Total calculated
    $203,638
    From this org
    $178,800
    From related orgs
    $0
    Other
    $24,838
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $172,994
    Bonus
    $5,500
    Other
    $306
    Deferred
    $10,019
    Nontaxable benefits
    $14,819
    Filer's total
    $203,638

  • RICHARD T SCHICK - 3

    SR IT ARCHITECTURAL ENGINEER

    Total calculated
    $169,451
    From this org
    $149,034
    From related orgs
    $0
    Other
    $20,417
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $135,486
    Bonus
    $13,272
    Other
    $276
    Deferred
    $10,520
    Nontaxable benefits
    $9,897
    Filer's total
    $169,451

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

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 -$2,985,734 · share of assets $3,340,537 · controlled entity

    Directly controlled by GROUP

Provenance

Return type
form_990
Tax year
2022
Filed
30 August 2023
IRS schema version
2022v5.0
Source object
202332429349300628

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