Ecmc Group
Ecmc Group reported $501.3 million in revenue and $281.0 million in expenses for calendar year 2024. Of every $100 it spent, $89.55 went to program services, $10.45 to management and general costs and $0.00 to fundraising. Its largest source of revenue was investment income: 37.2% of the total. The highest compensation it reported for one person was $1,503,752 (PRESIDENT & CEO). 139 people received more than $100,000 in reportable compensation. Revenue rose 39% between 2019 and 2024. Source: Form 990, 2024.
Where $100 of spending went
Calendar year 2024 · Form 990, Part IX, line 25 · total expenses $281MFor context, the median across 5,499 covered education charities: $85.56 programs, $13.59 management, $0.85 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 $501MThe 990 scorecard · same measures for every charity, no grades
| Measure | 2024 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 89.6% | 84.4% |
| Management & general Part IX 25(C) ÷ 25(A) | 10.4% | 13.4% |
| Fundraising Part IX 25(D) ÷ 25(A) | 0.0% | 0.8% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.00 | $0.04 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 25.9% | 19.1% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 0.0% | 1.1% |
| Program service revenue share Part VIII 2g ÷ 12 | 35.3% | 69.9% |
| Highest reported compensation Part VII-A, columns D–F | $1,503,752 | $331,578 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 0.54% | 1.28% |
| People paid over $100,000 Part VII, line 2 | 139 | 8 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 56.0 | 13.3 |
| 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 expenseLoan portfolio servicing:Ecmc Group, inc. And oakdale student loan funding, llc (oakdale), a wholly owned subsidiary of Ecmc Group, inc., have eligible lender trust (elt) agreements with manufacturers and traders trust company. Manufacturers and traders trust company serves as the elt for Ecmc Group, inc. And oakdale. Through the elts, Ecmc Group, inc. And oakdale purchase federal family education loan program (ffelp) rehabilitated student loans from educational credit management corporation, a related entity, and other guaranty agencies to ensure that student loan borrowers can realize the…
Supporting related organizations:Ecmc Group, inc. Supports the furtherance of the exempt purpose of educational credit management corporation, ecmc education, inc., and ecmc foundation by creating, providing and investing in innovative educational opportunities. Ecmc Group, inc. Is a nonprofit corporation whose vision is to empower underserved communities to thrive through education. $82,935,000 cash contributions made to ecmc foundation for general support of its mission to improve higher education and career success among underserved populations through evidence-based innovation.…
Grants & sponsorships:grants and sponsorships supplied by Ecmc Group, inc. To schools and individuals in support of its tax-exempt purpose
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 Director/trustee, officer, 40.00 hrs/week | $1,373,427 | $0 | $130,325 | $1,503,752 |
| FORMER CHIEF INVESTMENT OFFICER Former, 0.00 hrs/week | $27,619 | $1,179,319 | $99,362 | $1,306,300 |
| CFO & TREASURER Officer, 40.00 hrs/week | $903,005 | $0 | $108,170 | $1,011,175 |
| CHIEF HUMAN RESOURCES OFFICER Key employee, 40.00 hrs/week | $705,672 | $0 | $100,129 | $805,801 |
| CHIEF INFORMATION OFFICER Key employee, 40.00 hrs/week | $660,107 | $0 | $102,291 | $762,398 |
| GENERAL COUNSEL & CORP SECRETARY Officer, 40.00 hrs/week | $520,510 | $0 | $91,781 | $612,291 |
| CHIEF OF STAFF Key employee, 40.00 hrs/week | $512,190 | $0 | $91,680 | $603,870 |
| SR VP, CORPORATE AFFAIRS Key employee, 40.00 hrs/week | $513,337 | $0 | $56,246 | $569,583 |
139 people received more than $100,000 in reportable compensation from Ecmc Group (Part VII, line 2). Compensation of current officers, directors and key employees totaled $4.1M (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 26No
- 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 5245
Largest outside contractors
2024 · Form 990, Part VII, Section B · businesses only| NAVIENT SOLUTIONS INC Loan portfolio servicing | $4,589,964 |
| AMAZON WEB SERVICES INC It service & support | $3,868,787 |
| SOLUTION DESIGN GROUP INC It service & support | $1,392,828 |
| KPMG LLP Accounting | $1,224,250 |
| CDW It service & support | $1,102,962 |
Individuals listed as contractors are left out. 35 contractors were paid more than $100,000 in all.
Correct a figure or respond
Every number above is copied from Ecmc Group's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for Ecmc Group, you can publish a response that is linked from this page.
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Of every $100 Ecmc Group spent in 2024, $89.55 went to programs. The full breakdown, from its IRS Form 990:
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Similar-sized charities in this cause
- Brandeis UniversityWaltham, MA · revenue $497M · programs 87.0% · FY2025
- Pomona CollegeClaremont, CA · revenue $502M · programs 88.2% · FY2025
- Jefferson University PhysiciansPhiladelphia, PA · revenue $496M · programs 93.6% · FY2025
- High Point UniversityHigh Point, NC · revenue $502M · programs 82.4% · FY2025
- University of Kentucky Research FoundationLexington, KY · revenue $496M · programs 98.8% · FY2025
Questions people ask
How much of Ecmc Group's spending goes to programs?
In calendar year 2024, Ecmc Group reported that 89.6% of its $281.0 million in expenses went to program services, 10.4% to management and general and 0.0% to fundraising (Form 990, Part IX).
How much does Ecmc Group pay its top executive?
The largest total compensation Ecmc Group reported for one person in calendar year 2024 was $1,503,752, for the role of PRESIDENT & CEO (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does Ecmc Group get its money?
Of $501.3 million in revenue in calendar year 2024, 25.9% came from contributions and grants and 35.3% from program service revenue (Form 990, Part VIII).
Is Ecmc Group a registered charity?
The IRS lists EIN 41-1991995 as a 501(c)(3) organization (supporting organization (509(a)(3))), 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 202523199349302057 · read the filing · XML
- 2023: Form 990 for calendar year 2023, object 202423199349313627 · read the filing
- 2022: Form 990 for calendar year 2022, object 202333189349316583 · read the filing
- 2021: Form 990 for calendar year 2021, object 202243149349307674 · read the filing
- 2020: Form 990 for calendar year 2020, object 202103159349306150 · read the filing
- 2019: Form 990 for calendar year 2019, object 202043179349309334 · read the filing
All filings for EIN 41-1991995: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.