Overview
What is Ecmc Group Inc?
Ecmc Group Inc, a Minneapolis, Minnesota-based nonprofit corporation with 240 employees, is dedicated to supporting the educational missions of Educational Credit Management Corporation (ECMC) and ECMC Education Inc. Through their innovative initiatives, they empower underserved communities to thrive by creating, providing, and investing in educational opportunities. Their vision aligns with ECMC Group Inc's mission to help students succeed and further the exempt purposes of these organizations. In 2020, they made significant cash contributions totaling $26.3 million to ECMC Education Inc and $501.6 million to ECMC Foundation. Their support extends to improving higher education and career success among underserved populations.
Official website here: www.ecmcgroup.org
What are the reviews and ratings of this charity?
Charity Navigator rating: 81%, Three-Star out of Four Star rating.
Ecmc Group Inc has received an overall score of 81%, which reflects a strong emphasis on accountability and finance. The organization has demonstrated transparency through its financial practices, with a particularly high program expense ratio of 89.43%, indicating that a significant portion of its funds is directed towards its programs rather than administrative costs. The charity enjoys a fully independent board, with 90% of its members being independent, which contributes to its governance strength.
Despite its strengths in accountability, the organization has a liability to assets ratio of 78.80%, which may raise concerns about its financial stability. However, the lack of material diversion of assets and the presence of essential policies such as conflict of interest and whistleblower policies illustrate the charity's commitment to ethical standards and proper governance. Overall, while Ecmc Group Inc shows robust financial accountability, potential donors may want to consider its liabilities when evaluating the organization.
This AI summary has been generated from information found on Charity Navigator.
Is Ecmc Group Inc legitimate?
Ecmc Group Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Ecmc Group Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $5,210,891
Professional Fundraising Fees: $0
Other Salaries and Wages: $5,518,333
For more financial information, click here
Official website here: www.ecmcgroup.org
What is the mission statement of Ecmc Group Inc?
ECMC Group Inc is a nonprofit organization with a mission to empower underserved communities by creating, providing, and investing in innovative educational opportunities. The corporation supports the exempt purposes of Educational Credit Management Corporation and ECMC Education Inc in this endeavor. ECMC Group's vision is to help students succeed by fostering educational advancements. The organization has made significant cash contributions to ECMC Education Inc to support its mission in career and technical education, and to ECMC Foundation for enhancing higher education and career success among underserved populations. ECMC Group's investments aim to provide learners with essential skills to elevate their careers and communities.
Official website here: www.ecmcgroup.org
Who is the CEO of Ecmc Group Inc?
Daniel Fisher is the CEO of Ecmc Group Inc The CEO's salary of Ecmc Group Inc is $1,268,659 and their total compensation is $1,395,389.
Official website here: www.ecmcgroup.org
What is the revenue of Ecmc Group Inc?
Ecmc Group Inc's revenue in 2023 was $5,041,564,260.
Official website here: www.ecmcgroup.org
Who are the executives of Ecmc Group Inc and what are their salaries?
The average compensation at Ecmc Group Inc during 2023 was $46,048. There are 233 employees at Ecmc Group Inc.
Here are 34 key members and their salaries (Ecmc Group Inc's CEO's salary is $1,268,659 and their total compensation is $1,395,389):
- Compensation: $1,268,659
- Related: $0
- Other: $126,730
- Compensation: $0
- Related: $197,500
- Other: $0
- Compensation: $0
- Related: $151,250
- Other: $0
- Compensation: $0
- Related: $145,000
- Other: $0
- Compensation: $0
- Related: $155,000
- Other: $0
- Compensation: $0
- Related: $137,500
- Other: $0
- Compensation: $0
- Related: $128,750
- Other: $0
- Compensation: $0
- Related: $148,750
- Other: $0
- Compensation: $0
- Related: $141,875
- Other: $0
- Compensation: $453,655
- Related: $0
- Other: $86,354
- Compensation: $1,149,769
- Related: $0
- Other: $97,806
- Compensation: $353,937
- Related: $0
- Other: $34,009
- Compensation: $918,311
- Related: $0
- Other: $104,819
- Compensation: $531,762
- Related: $0
- Other: $85,078
- Compensation: $346,448
- Related: $0
- Other: $68,215
- Compensation: $400,940
- Related: $0
- Other: $82,872
- Compensation: $304,915
- Related: $0
- Other: $3,256
- Compensation: $507,841
- Related: $0
- Other: $89,056
- Compensation: $331,116
- Related: $0
- Other: $61,513
- Compensation: $523,304
- Related: $0
- Other: $56,476
- Compensation: $345,175
- Related: $0
- Other: $69,389
- Compensation: $293,968
- Related: $0
- Other: $57,669
- Compensation: $688,263
- Related: $0
- Other: $100,107
- Compensation: $699,742
- Related: $0
- Other: $96,737
- Compensation: $322,529
- Related: $0
- Other: $58,009
- Compensation: $327,202
- Related: $0
- Other: $33,781
- Compensation: $245,794
- Related: $0
- Other: $69,830
- Compensation: $243,269
- Related: $0
- Other: $68,501
- Compensation: $262,274
- Related: $0
- Other: $44,854
- Compensation: $269,097
- Related: $0
- Other: $46,380
- Compensation: $237,136
- Related: $0
- Other: $71,487
- Compensation: $1,622,127
- Related: $0
- Other: $0
- Compensation: $0
- Related: $30,000
- Other: $0
- Compensation: $0
- Related: $60,000
- Other: $0
Official website here: www.ecmcgroup.org
Where can I find the form 990 for Ecmc Group Inc?
Ecmc Group Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.ecmcgroup.org
Learn more at the official website: www.ecmcgroup.org
Mission Statement of Ecmc Group Inc
ECMC Group Inc, a nonprofit corporation, is dedicated to advancing education by creating, providing, and investing in innovative opportunities. This organization's mission is to empower underserved communities to thrive through education. ECMC Group's financial commitment to this cause is significant, with over $26 million in cash contributions made to ECMC Education, Inc. to support its mission in transforming career and technical education. By providing learners with essential skills, ECMC Education aims to elevate their careers and communities. In addition, ECMC Group made a contribution of $296,902 on behalf of ECMC Education, Inc. to cover accrued section 4968 excise tax on net investment income.
Furthermore, ECMC Group's support extends to ECMC Foundation, which focuses on improving higher education and career success among underserved populations through evidence-based innovation. The organization's substantial financial investment of over $501 million in cash and non-cash contributions has been instrumental in furthering ECMC Foundation's mission. By collaborating with both corporations, ECMC Group is making a significant impact on the educational landscape and empowering individuals and communities to reach their full potential.
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Impact
October, 2024
ECMC Group Inc plays a pivotal role in enhancing educational opportunities and career success for underserved communities. Its commitment to empowering individuals is evident through significant financial contributions made to support related organizations such as ECMC Education, Inc. and the ECMC Foundation. For instance, it has provided $26 million to transform career and technical education, ensuring that both aspiring and current learners acquire the necessary skills to elevate their careers and benefit their communities.
Additionally, ECMC Group Inc has allocated over $500 million in cash and non-cash contributions to the ECMC Foundation, which focuses on improving higher education and career outcomes through evidence-based innovation. This extensive support fosters an environment where educational initiatives can flourish, ultimately driving systemic change. By investing in innovative educational opportunities, ECMC Group Inc positions itself as a catalyst for positive change, helping to close the achievement gap for underserved populations and facilitating pathways to success.
This information is meant to be a general summary of Ecmc Group Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $4,503,584,389
- Program Service Revenue: $191,870,698
- Gross Receipts: $6,083,865,754
Assets and Liabilities:
- Total Assets: $5,422,363,648
- Total Liabilities: $4,273,162,854
- Net Assets: $1,149,200,794
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
STUDENT LOAN PORTFOLIO
Revenue
$191,870,698
Organization Details
Founding Year
2000
Principal Officer
Daniel S Fisher
Website
www.ecmcgroup.orgNTEE Category
Code: B02 - Education
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