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Educational Credit Management Corporation
Educational Credit Management Corporation reported $265.0 million in revenue and $261.6 million in expenses for calendar year 2024. Of every $100 it spent, $81.83 went to program services, $18.17 to management and general costs and $0.00 to fundraising. Its largest source of revenue was program service revenue such as fees, sales and contracts: 94.0% of the total. The highest compensation it reported for one person was $1,503,752 (PRESIDENT & CEO, ECMC GROUP). 42 people received more than $100,000 in reportable compensation. Revenue fell 18% between 2019 and 2024. Source: Form 990, 2024.
Where $100 of spending went
Calendar year 2024 · Form 990, Part IX, line 25 · total expenses $262MFor context, the median across 185 covered public & societal benefit charities: $88.81 programs, $11.18 management, $0.01 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
Calendar year 2024 · Form 990, Part VIII · total revenue $265MThe 990 scorecard · same measures for every charity, no grades
| Measure | 2024 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 81.8% | 84.9% |
| Management & general Part IX 25(C) ÷ 25(A) | 18.2% | 10.7% |
| Fundraising Part IX 25(D) ÷ 25(A) | 0.0% | 0.0% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.00 | $0.01 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 5.5% | 83.8% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 0.0% | 0.0% |
| Program service revenue share Part VIII 2g ÷ 12 | 94.0% | 3.2% |
| Highest reported compensation Part VII-A, columns D–F | $1,503,752 | $357,133 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 0.57% | 1.52% |
| People paid over $100,000 Part VII, line 2 | 42 | 12 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 1.9 | 10.5 |
| Independent voting board members Part VI 1a–1b | 8 of 9 | 100.0% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
2024 · Form 990, Part III · the three largest programs by expenseBankruptcy 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
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…
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…
Highest reported compensation
2024 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here| Role | From this org | From related orgs | Other | Total |
|---|---|---|---|---|
| PRESIDENT & CEO, ECMC GROUP Director/trustee, 0.00 hrs/week | $0 | $1,373,427 | $130,325 | $1,503,752 |
| CFO & TREASURER Officer, 0.00 hrs/week | $0 | $903,005 | $108,170 | $1,011,175 |
| PRESIDENT, ECMC Officer, 40.00 hrs/week | $599,179 | $0 | $89,550 | $688,729 |
| GENERAL COUNSEL & CORP SECRETARY Officer, 0.00 hrs/week | $0 | $520,510 | $91,781 | $612,291 |
| VP, ECMC OPERATIONS Officer, 40.00 hrs/week | $345,093 | $0 | $46,785 | $391,878 |
| VP, OUTREACH Officer, 40.00 hrs/week | $279,939 | $0 | $27,226 | $307,165 |
| SR DIR, REPAYMENT SUCCESS CENTER Highest compensated employee, 40.00 hrs/week | $254,849 | $0 | $44,782 | $299,631 |
| SR DIR, GUARANTOR SERVICES Highest compensated employee, 40.00 hrs/week | $245,596 | $0 | $42,362 | $287,958 |
42 people received more than $100,000 in reportable compensation from Educational Credit Management Corporation (Part VII, line 2). Compensation of current officers, directors and key employees totaled $1.4M (Part IX, line 5).
6 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
2024 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b9 · 8 independent
- Audited financial statements Part XII 2bYes
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13Yes
- Document retention policy Part VI 14Yes
- Independent process for top executive pay Part VI 15aYes
- Board given the 990 before filing Part VI 11aYes
- Family or business ties among insiders Part VI 2No
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26Yes
- Lobbying, or a 501(h) election in effect Part IV 4Yes
- Over $15,000 of professional fundraising services Part IV 18No
- Over $10,000 of activity outside the U.S. Part IV 14bYes
- Employees Part I, line 5250
Largest outside contractors
2024 · Form 990, Part VII, Section B · businesses only| NASFAA Professional services | $5,027,641 |
| PARTNERSHIP FOR EDUCATION ADVANCEMENT Professional services | $5,000,000 |
| ALVARIA INC It services & support | $676,717 |
| QUADIENT FINANCE USA INC Finance services | $459,031 |
| FAME Ga servicing | $340,000 |
Individuals listed as contractors are left out. 20 contractors were paid more than $100,000 in all.
Correct a figure or respond
Every number above is copied from Educational Credit Management Corporation's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for Educational Credit Management Corporation, you can publish a response that is linked from this page.
Share or embed this breakdown
Of every $100 Educational Credit Management Corporation spent in 2024, $81.83 went to programs. The full breakdown, from its IRS Form 990:
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Questions people ask
How much of Educational Credit Management Corporation's spending goes to programs?
In calendar year 2024, Educational Credit Management Corporation reported that 81.8% of its $261.6 million in expenses went to program services, 18.2% to management and general and 0.0% to fundraising (Form 990, Part IX).
How much does Educational Credit Management Corporation pay its top executive?
The largest total compensation Educational Credit Management Corporation reported for one person in calendar year 2024 was $1,503,752, for the role of PRESIDENT & CEO, ECMC GROUP (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does Educational Credit Management Corporation get its money?
Of $265.0 million in revenue in calendar year 2024, 5.5% came from contributions and grants and 94.0% from program service revenue (Form 990, Part VIII).
Is Educational Credit Management Corporation a registered charity?
The IRS lists EIN 41-1778617 as a 501(c)(3) organization (publicly supported organization (509(a)(2))), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2019, 2020, 2021, 2022, 2023, 2024. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- 2024: Form 990 for calendar year 2024, object 202503199349301740 · read the filing · XML
- 2023: Form 990 for calendar year 2023, object 202413199349312911 · read the filing
- 2022: Form 990 for calendar year 2022, object 202313189349316496 · read the filing
- 2021: Form 990 for calendar year 2021, object 202243149349307194 · read the filing
- 2020: Form 990 for calendar year 2020, object 202133139349305718 · read the filing
- 2019: Form 990 for calendar year 2019, object 202023179349308677 · read the filing
All filings for EIN 41-1778617: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.