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← EDUCATIONAL CREDIT MANAGEMENT CORPORATION

Form 990 for tax year 2024

Filed by EDUCATIONAL CREDIT MANAGEMENT CORPORATION.

Totals

Total revenue
$264,998,856
Total expenses
$261,591,267
Contributions and grants received
$14,611,000
Grants paid
$177,847,940
Program service revenue
$249,023,650
Investment income
$1,363,991
Other revenue
$215
Total assets, end of year
$209,123,067
Total liabilities, end of year
$167,236,990
Net assets or fund balances, end of year
$41,886,077
Program services expenses (Part IX)
$214,059,087
Management and general expenses
$47,532,180
Fundraising expenses
$0
Program service expenses (Part III)
$214,059,087

Program services were 81.8% 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

    $14,611,000

  • 2a · Program service revenue: TRANSITIONAL FEE

    total $95,355,634 · related or exempt $95,355,634

  • 2b · Program service revenue: BANKRUPTCY SERVICING

    total $50,544,455 · related or exempt $50,544,455

  • 2c · Program service revenue: THIRD-PARTY GUARANTOR

    total $41,061,626 · related or exempt $41,061,626

  • 2d · Program service revenue: CLAIM REPURCHASE

    total $26,072,157 · related or exempt $26,072,157

  • 2e · Program service revenue: DEFAULT AVERSION

    total $20,260,253 · related or exempt $20,260,253

  • 2f · All other program service revenue

    total $15,729,525 · related or exempt $15,729,525

  • 3 · Investment income

    total $1,363,991 · excluded $1,363,991

  • 11d · All other revenue

    total $215 · excluded $215

  • 11e · Other revenue, total

    $215

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $177,069,160 · program services $177,069,160

  • 2 · Grants to domestic individuals

    total $712,000 · program services $712,000

  • 3 · Grants to foreign organizations and individuals

    total $66,780 · program services $66,780

  • 5 · Compensation of officers, directors and key employees

    total $1,387,774 · program services $1,387,774

  • 7 · Other salaries and wages

    total $41,659,901 · program services $17,980,729 · management and general $23,679,172

  • 8 · Pension plan contributions

    total $1,874,630 · program services $791,929 · management and general $1,082,701

  • 9 · Other employee benefits

    total $6,835,578 · program services $3,863,257 · management and general $2,972,321

  • 10 · Payroll taxes

    total $2,903,447 · program services $1,294,224 · management and general $1,609,223

  • 11b · Fees: legal

    total $1,216,064 · program services $755,725 · management and general $460,339

  • 11c · Fees: accounting

    total $649,630 · management and general $649,630

  • 11d · Fees: lobbying

    total $181,862 · program services $181,862

  • 11g · Fees: other

    total $4,031,761 · program services $1,638,190 · management and general $2,393,571

  • 13 · Office expenses

    total $6,395,353 · program services $2,382,563 · management and general $4,012,790

  • 14 · Information technology

    total $6,939,820 · program services $3,821,227 · management and general $3,118,593

  • 16 · Occupancy

    total $2,878,733 · program services $150,114 · management and general $2,728,619

  • 17 · Travel

    total $672,443 · program services $383,478 · management and general $288,965

  • 19 · Conferences, conventions and meetings

    total $404,367 · program services $167,757 · management and general $236,610

  • 22 · Depreciation, depletion and amortization

    total $2,452,744 · program services $48,133 · management and general $2,404,611

  • 23 · Insurance

    total $1,317,484 · program services $59,635 · management and general $1,257,849

  • 24a · Other expenses: COMMISSION EXPENSE

    total $1,135,125 · program services $1,135,125

  • 24b · Other expenses: LEGAL SETTLEMENTS

    total $350,000 · management and general $350,000

  • 24c · Other expenses: PROJECT SUCCESS EXPENSE

    total $152,371 · program services $152,371

  • 24d · Other expenses: OUTREACH EVENTS

    total $27,194 · program services $10,423 · management and general $16,771

  • 24e · All other expenses

    total $277,046 · program services $6,631 · management and general $270,415

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,265,360 · end of year $4,521,247

  • 2 · Savings and temporary cash investments

    beginning of year $13,778,223 · end of year $19,492,154

  • 4 · Accounts receivable

    beginning of year $55,442,546 · end of year $29,952,993

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $950,515

  • 9 · Prepaid expenses and deferred charges

    beginning of year $447,065 · end of year $1,482,589

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

    $68,459

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

    $45,819

  • 10c · Land, buildings and equipment, net

    beginning of year $29,109 · end of year $22,640

  • 14 · Intangible assets

    beginning of year $1,108,333 · end of year $0

  • 15 · Other assets

    beginning of year $221,023,080 · end of year $152,700,929

  • 17 · Accounts payable and accrued expenses

    beginning of year $8,185,460 · end of year $8,105,165

  • 18 · Grants payable

    beginning of year $359,924 · end of year $422,234

  • 19 · Deferred revenue

    beginning of year $740,402 · end of year $915,401

  • 21 · Escrow or custodial account liability

    beginning of year $1,467,535 · end of year $1,445,073

  • 25 · Other liabilities

    beginning of year $245,863,907 · end of year $156,349,117

  • 27 · Net assets without donor restrictions

    beginning of year $35,004,488 · end of year $38,240,077

  • 28 · Net assets with donor restrictions

    beginning of year $3,472,000 · end of year $3,646,000

Mission and programs · 2024

Mission

EDUCATIONAL CREDIT MANAGEMENT CORPORATION (ECMC) PROVIDES FINANCIAL COUNSELING AND EDUCATION TO EMPOWER STUDENTS TO MAKE BETTER CHOICES ABOUT THEIR FUTURES.

Activities or mission (Part I)

PROVIDES FINANCIAL COUNSELING AND EDUCATION TO EMPOWER STUDENTS TO MAKE BETTER CHOICES ABOUT THEIR FUTURES.

  • BANKRUPTCY SERVICING:ECMC SERVICES AND MONITORS THE BANKRUPTCY CASES ON FFELP STUDENT LOANS CURRENTLY UNDER CHAPTER 7 OR 13 OF THE BANKRUPTCY CODE. THE BANKRUPTCY LOANS ARE TRANSFERRED FROM THE U.S. DEPARTMENT OF EDUCATION (ED) AND OTHER GUARANTY AGENCIES FOR PROCESSING BY ECMC. AT THE REQUEST OF ED, SPECIALTY STUDENT LOAN SERVICES ARE ALSO PERFORMED FOR ED. THE BANKRUPTCY STUDENT LOAN PORTFOLIO AT DECEMBER 31, 2024 CONSISTED OF $458 MILLION IN OUTSTANDING PRINCIPAL, INTEREST AND FEES.

    Expenses $50,544,455 · Grants $46,991,260 · Revenue $50,544,455

  • DEFAULT AVERSION, CLAIMS AND COLLECTION PROGRAM:IN ECMC'S ROLE AS A FEDERAL STUDENT LOAN GUARANTOR, WE PERFORM DEFAULT PREVENTION ACTIVITIES, REIMBURSE LENDERS FOR DEFAULT AND OTHER TYPES OF CLAIMS, AND RECOVER DEFAULTED STUDENT LOANS. DEFAULT PREVENTION PROGRAM: ECMC HAS A ROBUST DEFAULT PREVENTION PROGRAM FOCUSED ON EDUCATING AND COUNSELING DELINQUENT BORROWERS ON REPAYMENT STRATEGIES TO FIND THE ONE THAT BEST FITS THEIR SITUATION SO THEY CAN SUCCESSFULLY REPAY THEIR LOAN. COLLECTION PROGRAM: FOR THOSE BORROWERS WHO FACE THE UNFORTUNATE SITUATION OF STUDENT LOAN DEFAULT, IT IS NOT ONLY OUR FIDUCIARY RESPONSIBILITY TO THE U.S. TREASURY AND THE TAXPAYER TO COLLECT THOSE LOANS, ECMC IS ALSO COMMITTED TO HELPING THE BORROWER RECOVER FROM DEFAULT. CONGRESS HAS GIVEN US TOOLS, SUCH AS THE LOAN REHABILITATION PROGRAM WHERE WE ESTABLISH AN INCOME-CONTINGENT REPAYMENT ARRANGEMENT WITH THE BORROWER. WITH SUCCESSFUL COMPLETION OF THIS PROGRAM, THE DEFAULT STATUS IS REMOVED FROM THE BORROWER'S RECORD. SINCE INCEPTION, ECMC HAS RETURNED $21.8 BILLION IN STUDENT LOAN RECOVERIES TO THE U.S. TREASURY.AS PART OF DCL GEN-22-16, THE U.S. DEPARTMENT OF EDUCATION (ED), ESTABLISHED A TRANSITIONAL FEE TO BE PAID TO GUARANTORS FROM AUGUST 29, 2023 THROUGH THE FRESH START PERIOD, WHICH ENDED ON SEPTEMBER 30, 2024. THE TRANSITIONAL FEE IS PAID TO GUARANTORS TO HELP THEM INITIATE THE REPAYMENT RESTART WHILE SUPPORTING BORROWERS AND ASSISTING THEM AS THEY NAVIGATE THE FRESH START PERIOD AND ALL THEIR OPTIONS. ECMC RECORDED $78 MILLION FOR TRANSITIONAL FEE REVENUE IN 2024, ALL OF WHICH IS FULLY RECEIVED AS OF DECEMBER 31, 2024.ON OCTOBER 8, 2024, A VOLUNTARY FLEXIBLE AGREEMENT (VFA) WAS SIGNED BETWEEN ED AND ECMC. THIS ALLOWS THE SECRETARY TO WAIVE MOST STATUTORILY REQUIRED COLLECTIONS ACTIVITY AND REVENUE. THE VFA ECMC AND ED MUTUALLY AGREED UPON IS SET FOR A TWO-YEAR PERIOD BEGINNING OCTOBER 1, 2024, THROUGH SEPTEMBER 30, 2026, UNLESS TERMINATED EARLIER AS PROVIDED IN THE VFA. ECMC RECORDED $17.4 MILLION FOR SPECIAL ACCOUNT MAINTENANCE FEE (SAMF) REVENUE FOR THE PERIOD FROM OCTOBER 1, 2024, THROUGH DECEMBER 31, 2024.

    Expenses $17,174,534 · Revenue $118,260,172

  • LOAN GUARANTEE PROGRAM:ECMC IS THE DESIGNATED GUARANTY AGENCY FOR CALIFORNIA, CONNECTICUT, ILLINOIS, LOUISIANA, MAINE, MISSOURI, NORTH CAROLINA, OREGON, RHODE ISLAND, SOUTH CAROLINA, TENNESSEE, UTAH AND VIRGINIA UNDER THE FEDERAL FAMILY EDUCATION LOAN PROGRAM (FFELP). A GUARANTY AGENCY UNDER FFELP PROVIDES FEDERAL STUDENT LOAN GUARANTEES AND ONGOING PROCESSING SERVICES TO U.S. DEPARTMENT OF EDUCATION-APPROVED FFELP LENDERS AND POSTSECONDARY EDUCATION STUDENTS AND THEIR PARENTS FOR LOANS EXTENDED UNDER FFELP. ADDITIONAL SERVICES PROVIDED BY ECMC IN FULFILLING ITS ROLE AS A GUARANTY AGENCY INCLUDE BUT ARE NOT LIMITED TO: ASSISTING BORROWERS AND PARENTS IN PREPARING FOR COLLEGE, FINANCIAL LITERACY AND MONEY MANAGEMENT EDUCATION, EDUCATION REGARDING THE OBLIGATIONS ASSOCIATED WITH STUDENT LOANS, AND EDUCATION ON HOW TO AVOID STUDENT LOAN DEFAULT.ON MARCH 30, 2010, THE HEALTH CARE AND EDUCATION AFFORDABILITY RECONCILIATION ACT OF 2010 WAS SIGNED INTO LAW AND AMENDED THE HIGHER EDUCATION ACT BY TERMINATING THE AUTHORITY TO MAKE OR INSURE NEW LOANS UNDER FFELP AFTER JUNE 30, 2010. AS A RESULT, ECMC CEASED GUARANTEEING LOANS EFFECTIVE JULY 1, 2010. ALL EXISTING FFELP LOANS WILL CONTINUE TO BE GUARANTEED AND SERVICED AS FFELP LOANS THROUGHOUT THEIR REMAINING LIFE, WHICH GENERALLY AVERAGES 5 YEARS. AS OF DECEMBER 31, 2024, THE NON-DEFAULT GUARANTEE PORTFOLIO CONSISTED OF $11.2 BILLION IN ORIGINAL OUTSTANDING PRINCIPAL BALANCE.ON NOVEMBER 1, 2016, ECMC ENTERED INTO A THREE-YEAR AGREEMENT WITH THE U.S. DEPARTMENT OF EDUCATION (ED), WHEREBY ECMC WILL PARTICIPATE IN ED'S PROJECT SUCCESS BY PROVIDING SERVICES ON BEHALF OF ED TO CERTAIN MINORITY-SERVING INSTITUTIONS (INSTITUTIONS). THE SERVICES THAT ECMC MAY PROVIDE TO THE INSTITUTIONS INCLUDE INSTITUTIONAL SUPPORT SERVICES TO BENEFIT THE INSTITUTIONS AND SERVICES TO ASSIST THE INSTITUTION'S STUDENTS. ALL OF THE SERVICES PROVIDED MUST RELATE TO FEDERAL STUDENT LOANS. THE SECRETARY HAS AUTHORIZED ECMC TO USE THE GUARANTOR FEDERAL RESERVE FUND TO PAY THE COST OF PROVIDING SERVICES UNDER THE PROJECT SUCCESS PROGRAM, NOT TO EXCEED $20 MILLION FOR THE THREE-YEAR AGREEMENT. THE AGREEMENT HAS BEEN EXTENDED THROUGH SEPTEMBER 30, 2025. THE GUARANTOR FEDERAL RESERVE FUND REIMBURSED ECMC FOR EXPENSES INCURRED IN THE AMOUNT OF $3.3 MILLION FOR THE YEAR ENDED DECEMBER 31, 2024.

    Expenses $12,832,575 · Grants $1,964,579 · Revenue $35,144,857

  • ECMC SOLUTIONS PROGRAM:THE ECMC SOLUTIONS PROGRAM FOCUSES ON PROVIDING DEFAULT PREVENTION AND FINANCIAL LITERACY TO STUDENT LOAN BORROWERS WHILE THEY ARE STILL IN SCHOOL, IN THEIR GRACE PERIOD OR IN REPAYMENT TO HELP THEM UNDERSTAND THEIR REPAYMENT OPTIONS BEFORE BECOMING DELINQUENT OR DEFAULTING ON THEIR FEDERALLY INSURED STUDENT LOANS. THE PROGRAM INCLUDES RESOURCES FOR POSTSECONDARY INSTITUTIONS TO ASSIST THEM IN MANAGING THEIR COHORT DEFAULT RATE. SERVICES ARE OFFERED TO POSTSECONDARY INSTITUTIONS UNDER A FEE STRUCTURE.

    Expenses $3,752,280 · Grants $101 · Revenue $4,012,540

  • THIRD-PARTY GUARANTOR SERVICING:ECMC PERFORMS FEDERAL FAMILY EDUCATION LOAN PROGRAM (FFELP) LOAN PORTFOLIO SERVICING ACTIVITIES FOR OTHER STATE AND NONPROFIT GUARANTORS OF FFELP LOANS IN RETURN FOR A FEE. FFELP GUARANTOR LOAN PORTFOLIO SERVICING ACTIVITIES ARE IDENTICAL TO THOSE SERVICES THAT IT PERFORMS ON ITS OWN BEHALF AND INCLUDE LOAN CONVERSION ACTIVITIES, DEFAULT AVERSION, BORROWER UPDATES, CUSTOMER SERVICE, PAYMENT PROCESSING, DUE DILIGENCE PROCEDURES AND CLAIM PROCESSING.

    Expenses $863,243 · Revenue $41,061,626

  • CONTRIBUTIONS MADE TO ECMC GROUP, INC.:ECMC GROUP, INC. IS THE PARENT OF AND A SUPPORTING ORGANIZATION TO ECMC. ECMC GROUP, INC. RETAINS THE FOLLOWING AUTHORITY OVER ECMC:1. TO AUTHORIZE AMENDMENTS TO THE ARTICLES OF INCORPORATION AND BYLAWS.2. TO APPROVE THE STRATEGIC AND FINANCIAL PLANS.3. TO ELECT AND/OR APPROVE THE MEMBERS OF THE BOARD OF DIRECTORS.4. TO OVERSEE COORDINATION OF PROGRAMS AND SERVICES OFFERED.5. TO AUTHORIZE FORMATION, GOVERNANCE AND DISSOLUTION.ECMC GROUP, INC. AUTHORIZES THE DISTRIBUTION OF FUNDS FROM ECMC TO ECMC GROUP, INC. SECTION 422B OF THE HIGHER EDUCATION ACT OF 1965, AS AMENDED, ALLOWS ECMC TO INVEST FUNDS AT ITS DISCRETION IN ACCORDANCE WITH PRUDENT INVESTOR STANDARDS AND TO USE FUNDS FOR HIGHER EDUCATION-RELATED ACTIVITIES. ECMC DISTRIBUTES FUNDS TO ECMC GROUP, INC. TO INVEST AND TO DISTRIBUTE TO ECMC FOUNDATION AND ECMC EDUCATION, INC. TO USE FOR HIGHER EDUCATION-RELATED ACTIVITIES.

    Expenses $128,892,000 · Grants $128,892,000

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Daniel Fisher

    PRESIDENT & CEO, ECMC GROUP

    Total calculated
    $1,503,752
    From this org
    $0
    From related orgs
    $1,373,427
    Other
    $130,325
    Hours/week
    0 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $575,192 related
    Bonus
    $0 + $769,206 related
    Other
    $0 + $29,029 related
    Deferred
    $0 + $90,656 related
    Nontaxable benefits
    $0 + $39,669 related
    Filer's total
    $0 + $1,503,752 related

  • James V McKeon

    BOARD CHAIR

    Total calculated
    $197,500
    From this org
    $0
    From related orgs
    $197,500
    Other
    $0
    Hours/week
    1 + 16 related

    Schedule J breakdown matched by us

    Base
    $0 + $197,500 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $197,500 related

  • Diana J Ingram

    DIRECTOR

    Total calculated
    $151,250
    From this org
    $0
    From related orgs
    $151,250
    Other
    $0
    Hours/week
    1 + 9 related

    Schedule J breakdown matched by us

    Base
    $0 + $151,250 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $151,250 related

  • Jack O'Connell

    DIRECTOR

    Total calculated
    $135,000
    From this org
    $0
    From related orgs
    $135,000
    Other
    $0
    Hours/week
    1 + 8 related

  • Julia S Gouw

    DIRECTOR

    Total calculated
    $155,000
    From this org
    $0
    From related orgs
    $155,000
    Other
    $0
    Hours/week
    1 + 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

  • Derek Langhauser

    DIRECTOR

    Total calculated
    $127,500
    From this org
    $0
    From related orgs
    $127,500
    Other
    $0
    Hours/week
    1 + 8 related

  • James Runcie

    DIRECTOR

    Total calculated
    $135,000
    From this org
    $0
    From related orgs
    $135,000
    Other
    $0
    Hours/week
    1 + 9 related

  • Jennifer Anderson

    DIRECTOR

    Total calculated
    $138,750
    From this org
    $0
    From related orgs
    $138,750
    Other
    $0
    Hours/week
    1 + 8 related

  • K Paul Singh

    DIRECTOR

    Total calculated
    $145,000
    From this org
    $0
    From related orgs
    $145,000
    Other
    $0
    Hours/week
    1 + 12 related

  • Martin Scanlon

    CFO & TREASURER

    Total calculated
    $1,011,175
    From this org
    $0
    From related orgs
    $903,005
    Other
    $108,170
    Hours/week
    0 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $416,394 related
    Bonus
    $0 + $459,850 related
    Other
    $0 + $26,761 related
    Deferred
    $0 + $73,791 related
    Nontaxable benefits
    $0 + $34,379 related
    Filer's total
    $0 + $1,011,175 related

  • Brian Boardman

    GENERAL COUNSEL & CORP SECRETARY

    Total calculated
    $612,291
    From this org
    $0
    From related orgs
    $520,510
    Other
    $91,781
    Hours/week
    0 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $334,254 related
    Bonus
    $0 + $175,875 related
    Other
    $0 + $10,381 related
    Deferred
    $0 + $48,740 related
    Nontaxable benefits
    $0 + $43,041 related
    Filer's total
    $0 + $612,291 related

  • Paula Craw

    VP, OUTREACH

    Total calculated
    $307,165
    From this org
    $279,939
    From related orgs
    $0
    Other
    $27,226
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $195,414
    Bonus
    $79,047
    Other
    $5,478
    Deferred
    $26,638
    Nontaxable benefits
    $588
    Filer's total
    $307,165

  • Therese Bickler

    VP, ECMC OPERATIONS

    Total calculated
    $391,878
    From this org
    $345,093
    From related orgs
    $0
    Other
    $46,785
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $199,276
    Bonus
    $119,467
    Other
    $26,350
    Deferred
    $30,121
    Nontaxable benefits
    $16,664
    Filer's total
    $391,878

  • Chad Tate

    PRESIDENT, ECMC

    Total calculated
    $688,729
    From this org
    $599,179
    From related orgs
    $0
    Other
    $89,550
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $369,292
    Bonus
    $213,629
    Other
    $16,258
    Deferred
    $55,960
    Nontaxable benefits
    $33,590
    Filer's total
    $688,729

  • Jan Jacobson

    DIR, CUSTOMER SERVICE

    Total calculated
    $263,063
    From this org
    $205,258
    From related orgs
    $0
    Other
    $57,805
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $160,968
    Bonus
    $42,279
    Other
    $2,011
    Deferred
    $23,836
    Nontaxable benefits
    $33,969
    Filer's total
    $263,063

  • J Hamlin Sjoberg

    SR DIR, GUARANTOR SERVICES

    Total calculated
    $287,958
    From this org
    $245,596
    From related orgs
    $0
    Other
    $42,362
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $193,193
    Bonus
    $50,177
    Other
    $2,226
    Deferred
    $27,131
    Nontaxable benefits
    $15,231
    Filer's total
    $287,958

  • Han Cho

    DIR, PORTFOLIO MANAGEMENT

    Total calculated
    $269,895
    From this org
    $210,205
    From related orgs
    $0
    Other
    $59,690
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $167,310
    Bonus
    $41,726
    Other
    $1,169
    Deferred
    $25,769
    Nontaxable benefits
    $33,921
    Filer's total
    $269,895

  • Nathan Vickery

    SR DIR, REPAYMENT SUCCESS CENTER

    Total calculated
    $299,631
    From this org
    $254,849
    From related orgs
    $0
    Other
    $44,782
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $200,557
    Bonus
    $53,557
    Other
    $735
    Deferred
    $29,425
    Nontaxable benefits
    $15,357
    Filer's total
    $299,631

  • Charles Nadeau

    DIR, ANALYTICS & REVENUE MGMT

    Total calculated
    $251,499
    From this org
    $187,153
    From related orgs
    $0
    Other
    $64,346
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $146,932
    Bonus
    $39,092
    Other
    $1,129
    Deferred
    $21,331
    Nontaxable benefits
    $43,015
    Filer's total
    $251,499

  • Jeremy Wheaton

    FORMER PRESIDENT & CEO, ECMC GROUP

    Total calculated
    $19,539
    From this org
    $0
    From related orgs
    $19,539
    Other
    $0
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $0
    Bonus
    $0
    Other
    $0 + $19,539 related
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $19,539 related

  • John F Depodesta

    FORMER BOARD CHAIR

    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

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
  • 5a · Pay contingent on this organization's revenues
  • 6a · Pay contingent on this organization's net earnings

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement
  • 5b · Pay contingent on a related organization's revenues
  • 6b · Pay contingent on a related 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 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
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
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.

  • 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

Provenance

Return type
form_990
Tax year
2024
Filed
13 November 2025
IRS schema version
2024v5.2
Source object
202503199349301740

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