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Ecmc Group Inc

EIN 41-1991995 · Minneapolis, MN

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthFair67 out of 100GovernanceStrong100 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

ECMC GROUP, INC'S MISSION IS TO HELP STUDENTS SUCCEED BY CREATING, PROVIDING AND INVESTING IN INNOVATIVE EDUCATIONAL OPPORTUNITIES.

Income
$501.3 million
Spending
$281.0 million
Spent on programs
90%
Reserves
55.8 months of spending
Largest source of income
investment income, 37%
Employees
245
Volunteers
0
Highest pay
$1.5 million, president & ceo

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Fair: 67 out of 100. Higher than 59% of charities in its peer group (education, over $100m).

  • Reserves

    35 of 35

    Spendable reserves would cover 55.8 months of spending.

  • Debt

    2 of 20

    It owes 77% of what it owns.

  • Living within its means

    15 of 15

    Income exceeded spending by 44% of income.

  • Income trend

    0 of 15

    Income fell 90% on the year before.

  • Spending floor

    15 of 15

    90% of spending went to programs and raising each dollar of donations cost 0 cents.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Strong: 100 out of 100. Higher than 41% of charities in its peer group (education, over $100m).

  • Independent board

    25 of 25

    8 of 9 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    8 of 8

    Has a written whistleblower policy.

  • Record keeping policy

    7 of 7

    Has a written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    10 of 10

    Gave the board a copy of this return before filing it.

  • Pay set independently

    5 of 5

    Sets its chief executive's pay through independent review and comparison.

  • Independent check of accounts

    15 of 15

    Its accounts were audited by an independent accountant.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (4)
  1. $145.5 million spent. LOAN 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 FULL BENEFITS AFFORDED THEM UNDER 34 CFR SEC. 682.405. PATRIOT STUDENT LOAN CAPITAL, LLC (PATRIOT) HAS INTERIM ELT AGREEMENTS WITH MANUFACTURERS AND TRADERS TRUST COMPANY. ECMC GROUP STUDENT LOAN TRUST 2016-1 (TRUST 2016-1), ECMC GROUP STUDENT LOAN TRUST 2017-1 (TRUST 2017-1), ECMC GROUP STUDENT LOAN TRUST 2017-2 (TRUST 2017-2), ECMC GROUP STUDENT LOAN TRUST 2018-1 (TRUST 2018-1), ECMC GROUP STUDENT LOAN TRUST 2018-2 (TRUST 2018-2), ECMC GROUP STUDENT LOAN TRUST 2019-1 (TRUST 2019-1), ECMC GROUP STUDENT LOAN TRUST 2020-1 (TRUST 2020-1), ECMC GROUP STUDENT LOAN TRUST 2020-2 (TRUST 2020-2), ECMC GROUP STUDENT LOAN TRUST 2020-3 (TRUST 2020-3) AND ECMC GROUP STUDENT LOAN TRUST 2021-1 (TRUST 2021-1), COLLECTIVELY (THE TRUSTS), HAVE ELT AGREEMENTS WITH MANUFACTURERS AND TRADERS TRUST COMPANY. MANUFACTURERS AND TRADERS TRUST COMPANY SERVES AS THE INTERIM ELT FOR PATRIOT AND AS ELT FOR THE TRUSTS LISTED ABOVE. THROUGH THE INTERIM ELT, PATRIOT PURCHASES FFELP REHABILITATED STUDENT LOANS FROM ECMC GROUP, INC. AND OAKDALE AND RESELLS THE LOANS THROUGH THE ELT TO THE TRUSTS. THE TRUSTS ISSUED CLASS A NOTES SECURED BY THE RESPECTIVE STUDENT LOAN PORTFOLIOS.
  2. $105.1 million spent. 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. $12,611,000 CASH CONTRIBUTIONS MADE TO EDUCATIONAL CREDIT MANAGEMENT CORPORATION TO SUPPORT ITS MISSION TO PROVIDE FINANCIAL COUNSELING AND EDUCATION TO EMPOWER STUDENTS TO MAKE BETTER CHOICES ABOUT THEIR FUTURES. $9,600,000 CASH CONTRIBUTIONS MADE TO ECMC EDUCATION, INC. TO SUPPORT THE ENTITY'S WIND-DOWN ACTIVITIES, INCLUDING THE SETTLEMENT OF OUTSTANDING OBLIGATIONS.
  3. $640,344 spent. GRANTS & SPONSORSHIPS:GRANTS AND SPONSORSHIPS SUPPLIED BY ECMC GROUP, INC. TO SCHOOLS AND INDIVIDUALS IN SUPPORT OF ITS TAX-EXEMPT PURPOSE.
  4. $331,374 spent. PUBLIC POLICY:THROUGH THE PUBLIC POLICY PROGRAM, ECMC GROUP, INC. SHARES INFORMATION AMONG ECMC GROUP-RELATED MEMBERS ON LEGISLATIVE PROPOSALS AND GOVERNMENTAL REGULATIONS THAT IMPACT THEIR OPERATIONS. THE PROGRAM ENABLES ECMC GROUP, INC. AFFILIATES TO MONITOR PUBLIC POLICY MATTERS AND PROVIDE NONPARTISAN ANALYSIS AND RESEARCH TO POLICYMAKERS, THOUGHT LEADERS AND THE GENERAL PUBLIC.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated September 30, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated September 10, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending December 2024.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since April 2001.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 7, 2026.

Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.