Form990
Department of the Treasury
Internal Revenue Service
Return of Organization Exempt From Income Tax
Under section 501(c), 527, or 4947(a)(1) of the Internal Revenue Code (except black lung benefit trust or private foundation)

MediumBullet The organization may have to use a copy of this return to satisfy state reporting requirements.
OMB No. 1545-0047
2011
Open to Public Inspection
A For the calendar year, or tax year beginning 01-01-2011 and ending 12-31-2011
BCheck if applicable:
CName of organization
EDUCATIONAL CREDIT MANAGEMENT CORPORATION
 
Doing Business As
 
 
Number and street (or P.O. box if mail is not delivered to street address)
1 IMATION PLACE BUILDING 2
 
Room/suite
City or town, state or country, and ZIP + 4
OAKDALE, MN551283422
D Employer identification number

41-1778617
E Telephone number

G Gross receipts $ 383,140,483
F Name and address of principal officer:
JANICE HINES
1 IMATION PLACE BUILDING 2
OAKDALE,MN551283422
I
Tax-exempt status: (   ) LeftBullet (insert no.) or
J
Website:MediumBullet
www.ecmc.org
H(a)
Is this a group return for
affiliates?
H(b)
Are all affiliates included?
If "No," attach a list. (see instructions)
H(c)
Group exemption number MediumBullet  
K Form of organization:
 
L Year of formation: 1994
M State of legal domicile: MN
Part I
Summary
Activities & Governance 1 Briefly describe the organization’s mission or most significant activities: ECMC provides services in support of higher education finance. ECMC sponsors programs to help students and families plan and pay for college. ECMC works with schools and loan servicers to lower student loan default rates, promote financial literacy and provide resources for student loan borrowers to successfully repay their loans.
2 Check this box MediumBullet
3 Number of voting members of the governing body (Part VI, line 1a)..... 3 10
4 Number of independent voting members of the governing body (Part VI, line 1b) .... 4 9
5 Total number of individuals employed in calendar year 2011 (Part V, line 2a) ... 5 813
6 Total number of volunteers (estimate if necessary) .... 6 0
7a Total unrelated business revenue from Part VIII, column (C), line 12 .. 7a 0
b Net unrelated business taxable income from Form 990-T, line 34 .. 7b  
Revenues; Prior Year Current Year
8 Contributions and grants (Part VIII, line 1h) .........   0
9 Program service revenue (Part VIII, line 2g) ......... 168,227,121 382,905,105
10 Investment income (Part VIII, column (A), lines 3, 4, and 7d ) .... 42,696 235,378
11 Other revenue (Part VIII, column (A), lines 5, 6d, 8c, 9c, 10c, and 11e)   0
12 Total revenue—add lines 8 through 11 (must equal Part VIII, column (A), line 12)................... 168,269,817 383,140,483
Expenses; 13 Grants and similar amounts paid (Part IX, column (A), lines 1–3 )... 37,818,283 119,850,023
14 Benefits paid to or for members (Part IX, column (A), line 4).....   0
15 Salaries, other compensation, employee benefits (Part IX, column (A), lines 5–10) 37,843,616 67,124,571
16a Professional fundraising fees (Part IX, column (A), line 11e).....   0
b Total fundraising expenses (Part IX, column (D), line 25) MediumBullet0    
17 Other expenses (Part IX, column (A), lines 11a–11d, 11f–24f).... 108,037,232 108,554,801
18 Total expenses. Add lines 13–17 (must equal Part IX, column (A), line 25) 183,699,131 295,529,395
19 Revenue less expenses. Subtract line 18 from line 12....... -15,429,314 87,611,088
Net Assets or Fund Balances; Beginning of Current Year End of Year
20 Total assets (Part X, line 16)............. 951,710,962 802,387,300
21 Total liabilities (Part X, line 26)............. 813,385,487 571,560,223
22 Net assets or fund balances. Subtract line 21 from line 20..... 138,325,475 230,827,077
Part II
Signature Block
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than officer) is based on all information of which preparer has any knowledge.
Sign Here
JumboBullet
Signature of officer Date
JumboBullet
Type or print name and title.
Paid preparer use only
Print/type preparer's name
 
Preparer's signature
Date
PTIN
Firm's name Right pointing arrowhead image

Firm's EIN Right pointing arrowhead image
Firm's address Right pointing arrowhead image



Phone no.
May the IRS discuss this return with the preparer shown above? See instructions .........bullet
For Paperwork Reduction Act Notice, see the separate instructions.
Cat. No. 11282Y
Form 990 (2011)
Form 990 (2011)
Page 2
Part III
Statement of Program Service Accomplishments
Check if Schedule O contains a response to any question in this Part III .........
1
Briefly describe the organization’s mission: ECMC sponsors programs to help students plan and pay for college, promote financial
2
Did the organization undertake any significant program services during the year which were not listed on
the prior Form 990 or 990-EZ? ....................
If “Yes,” describe these new services on Schedule O.
3
Did the organization cease conducting, or make significant changes in how it conducts, any program services? ..........................
If “Yes,” describe these changes on Schedule O.
4
Describe the organization’s program service accomplishments for each of its three largest program services, as measured by expenses. Section 501(c)(3) and 501(c)(4) organizations and section 4947(a)(1) trusts are required to report the amount of grants and allocations to others, the total expenses, and revenue, if any, for each program service reported.
4a (Code:   ) (Expenses $ 225,417,706 including grants of $ 119,053,498 ) (Revenue $ 344,937,781 )
DEFAULT AVERSION, CLAIMS AND COLLECTION PROGRAM: IN ECMC'S ROLE AS A FEDERAL STUDENT LOAN GUARANTOR WE ARE RESPONSIBLE TO PERFORM DEFAULT PREVENTIONS 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. OUR COMMITMENT TO PREVENT DEFAULTS IS STRONG; OUR POSITIVE RESULTS REFLECT OUR DEDICATION TO THIS PROGRAM. COLLECTION PROGRAM: FOR THOSE BORROWERS WHO FACE THE UNFORTUNATE SITUATION OF STUDENT LOAN CONTINUED ON SCHEDULE 0.
4b (Code:   ) (Expenses $ 38,375,571 including grants of $ 796,525 ) (Revenue $ 29,083,985 )
LOAN GUARANTEE PROGRAM: EDUCATIONAL CREDIT MANAGEMENT CORPORATION (ECMC) IS THE DESIGNATED GUARANTY AGENCY FOR VIRGINIA, OREGON, CONNECTICUT AND CALIFORNIA UNDER THE FEDERAL FAMILY EDUCATION LOAN (FFEL) PROGRAM. A GUARANTY AGENCY UNDER THE FFEL PROGRAM PROVIDES FEDERAL STUDENT LOAN GUARANTEES AND ONGOING PROCESSING SERVICES TO COMMERCIAL LENDERS AND POSTSECONDARY EDUCATION STUDENTS AND THEIR PARENTS FOR FFEL PROGRAM LOANS. ADDITIONAL SERVICES PROVIDED BY ECMC IN FULFILLING ITS ROLE AS A GUARANTY
4c (Code:   ) (Expenses $ 8,883,339 including grants of $   ) (Revenue $ 8,883,339 )
BANKRUPTCY SERVICING: EDUCATIONAL CREDIT MANAGEMENT CORPORATION (ECMC) SERVICES AND MONITORS THE BANKRUPTCY CASES ON THE FFEL PROGRAM STUDENT LOANS CURRENTLY UNDER CHAPTER 7 OR 13 OF THE BANKRUPTCY CODE. THE BANKRUPTCY LOANS ARE TRANSFERRED FROM THE US DEPARTMENT OF EDUCATION AND OTHER GUARANTY AGENCIES FOR PROCESSING BY ECMC. THE BANKRUPTCY STUDENT LOAN PORTFOLIO AT DECEMBER 31, 2011 CONSISTED OF $2.8 BILLION IN OUTSTANDING PRINCIPAL, INTEREST AND FEES.
4d Other program services (Describe in Schedule O.)
(Expenses $   including grants of $   ) (Revenue $   )
4e Total program service expensesMediumBullet$ 272,676,616
Form 990 (2011)
Form 990 (2011)
Page 3
Part IV
Checklist of Required Schedules
Yes
No
1
Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)? If “Yes,” complete Schedule AClick to see attachment.....................
1
Yes
 
2
Is the organization required to complete Schedule B, Schedule of Contributors? ........
2
 
No
3
Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office? If “Yes,” complete Schedule C, Part I..........
3
 
No
4
Section 501(c)(3) organizations. Did the organization engage in lobbying activities? If “Yes,” complete Schedule C,
Part II.........................
4
 
No
5
Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or similar amounts as defined in Revenue Procedure 98-19? If “Yes,” complete Schedule C, Part III........................
5
 
No
6
Did the organization maintain any donor advised funds or any similar funds or accounts for which donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts? If “Yes,” complete Schedule D, Part I....................
6
 
No
7
Did the organization receive or hold a conservation easement, including easements to preserve open space,
the environment, historic land areas or historic structures? If “Yes,” complete Schedule D, Part II...
7
 
No
8
Did the organization maintain collections of works of art, historical treasures, or other similar assets? If “Yes,” complete Schedule D, Part III ....................
8
 
No
9
Did the organization report an amount in Part X, line 21; serve as a custodian for amounts not listed in Part X; or provide credit counseling, debt management, credit repair, or debt negotiation services? If “Yes,”
complete Schedule D, Part IV...................
9
 
No
10
Did the organization, directly or through a related organization, hold assets in temporarily restricted endowments, permanent endowments, or quasi-endowments? If “Yes,” complete Schedule D, Part V
10
 
No
11
If the organization’s answer to any of the following questions is ‘Yes,’ then complete Schedule D, Parts VI, VII, VIII, IX, or X as applicable:
a
Did the organization report an amount for land, buildings, and equipment in Part X, line10? If “Yes,” complete Schedule D, Part VI.Click to see attachment
11a
Yes
 
b
Did the organization report an amount for investments—other securities in Part X, line 12 that is 5% or more of its total assets reported in Part X, line 16? If “Yes,” complete Schedule D, Part VII.
11b
 
No
c
Did the organization report an amount for investments—program related in Part X, line 13 that is 5% or more of its total assets reported in Part X, line 16? If “Yes,” complete Schedule D, Part VIII.
11c
 
No
d
Did the organization report an amount for other assets in Part X, line 15 that is 5% or more of its total assets reported in Part X, line 16? If “Yes,” complete Schedule D, Part IX.Click to see attachment
11d
Yes
 
e
Did the organization report an amount for other liabilities in Part X, line 25? If “Yes,” complete Schedule D, Part X.Click to see attachment
11e
Yes
 
f
Did the organization’s separate or consolidated financial statements for the tax year include a footnote that addresses the organization’s liability for uncertain tax positions under FIN 48 (ASC 740)? If “Yes,” complete Schedule D, Part X.Click to see attachment
11f
Yes
 
12a
Did the organization obtain separate, independent audited financial statements for the tax year?
If “Yes,” complete Schedule D, Parts XI, XII, and XIII Click to see attachment
12a
Yes
 
b
Was the organization included in consolidated, independent audited financial statements for the tax year? If “Yes,” and if the organization answered ‘No’ to line 12a, then completing Schedule D, Parts XI, XII, and XIII is optional Click to see attachment
12b
Yes
 
13
Is the organization a school described in section 170(b)(1)(A)(ii)? If “Yes,” complete Schedule E
13
 
No
14a
Did the organization maintain an office, employees, or agents outside of the United States?....
14a
 
No
b
Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, investment, and program service activities outside the United States or aggregate foreign investments valued at $100,000 or more? If “Yes,” complete Schedule F, Part I.........
14b
 
No
15
Did the organization report on Part IX, column (A), line 3, more than $5,000 of grants or assistance to any organization or entity located outside the U.S.? If “Yes,” complete Schedule F, Part II..
15
 
No
16
Did the organization report on Part IX, column (A), line 3, more than $5,000 of aggregate grants or assistance to individuals located outside the U.S.? If “Yes,” complete Schedule F, Part III..
16
 
No
17
Did the organization report a total of more than $15,000, of expenses for professional fundraising services on Part IX, column (A), lines 6 and 11e? If “Yes,” complete Schedule G, Part I
17
 
No
18
Did the organization report more than $15,000 total of fundraising event gross income and contributions on Part VIII, lines 1c and 8a? If “Yes,” complete Schedule G, Part II..........
18
 
No
19
Did the organization report more than $15,000 of gross income from gaming activities on Part VIII, line 9a? If “Yes,” complete Schedule G, Part III...................
19
 
No
20a
Did the organization operate one or more hospitals? If “Yes,” complete Schedule H.....
20a
 
No
b
If “Yes” to line 20a, did the organization attach a copy of its audited financial statement to this return? Note. All Form 990 filers that operated one or more hospitals must attach audited financial statements.
20b
 
 
Form 990 (2011)
Form 990 (2011)
Page 4
Part IV
Checklist of Required Schedules (continued)
21
Did the organization report more than $5,000 of grants and other assistance to any government or organization in the United States on Part IX, column (A), line 1? If “Yes,” complete Schedule I, Parts I and II.. Click to see attachment
21
Yes
 
22
Did the organization report more than $5,000 of grants and other assistance to individuals in the United States on Part IX, column (A), line 2? If “Yes,” complete Schedule I, Parts I and III..... Click to see attachment
22
Yes
 
23
Did the organization answer “Yes” to Part VII, Section A, questions 3, 4, or 5, about compensation of the organization’s current and former officers, directors, trustees, key employees, and highest compensated employees? If “Yes,” complete Schedule J................ Click to see attachment
23
Yes
 
24a
Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of the last day of the year, that was issued after December 31, 2002? If “Yes,” answer questions 24b–24d and complete Schedule K. If “No,” go to line 25................
24a
 
No
b
Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?...
24b
 
 
c
Did the organization maintain an escrow account other than a refunding escrow at any time during the year
to defease any tax-exempt bonds?......................
24c
 
 
d
Did the organization act as an “on behalf of” issuer for bonds outstanding at any time during the year?...
24d
 
 
25a
Section 501(c)(3) and 501(c)(4) organizations. Did the organization engage in an excess benefit transaction with a disqualified person during the year? If “Yes,” complete Schedule L, Part I......
25a
 
No
b
Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, and that the transaction has not been reported on any of the organization’s prior Forms 990 or 990-EZ? If “Yes,” complete Schedule L, Part I................
25b
 
No
26
Was a loan to or by a current or former officer, director, trustee, key employee, highly compensated employee, or disqualified person outstanding as of the end of the organization’s tax year? If “Yes,” complete Schedule L,
Part II.........................
26
 
No
27
Did the organization provide a grant or other assistance to an officer, director, trustee, key employee, substantial contributor or employee thereof, a grant selection committee member, or to a 35% controlled entity or family member of any of these persons? If “Yes,” complete Schedule L, Part III.........
27
 
No
28
Was the organization a party to a business transaction with one of the following parties? (see Schedule L, Part IV instructions for applicable filing thresholds, conditions, and exceptions):
a
A current or former officer, director, trustee, or key employee? If “Yes,” complete Schedule L, Part IV .........................
28a
 
No
b
A family member of a current or former officer, director, trustee, or key employee? If “Yes,”
complete Schedule L, Part IV...................
28b
 
No
c
An entity of which a current or former officer, director, trustee, or key employee (or a family member thereof) was an officer, director, trustee, or owner? If “Yes,” complete Schedule L, Part IV..
28c
 
No
29
Did the organization receive more than $25,000 in non-cash contributions? If “Yes,” complete Schedule M
29
 
No
30
Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions? If “Yes,” complete Schedule M............
30
 
No
31
Did the organization liquidate, terminate, or dissolve and cease operations? If “Yes,” complete Schedule N,
Part I...........................
31
 
No
32
Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets? If “Yes,” complete Schedule N, Part II.......................
32
 
No
33
Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections 301.7701-2 and 301.7701-3? If “Yes,” complete Schedule R, Part I........
33
 
No
34
Was the organization related to any tax-exempt or taxable entity? If “Yes,” complete Schedule R, Parts II, III, IV, and V, line 1..................... Click to see attachment
34
Yes
 
35a
Did the organization have a controlled entity within the meaning of section 512(b)(13)?
35a
 
No
b
If ‘Yes’ to line 35a, did the organization receive any payment from or engage in any transaction with a controlled entity within the meaning of section 512(b)(13)? If “Yes,” complete Schedule R, Part V, line 2...
35b
 
No
36
Section 501(c)(3) organizations. Did the organization make any transfers to an exempt non-charitable related organization? If “Yes,” complete Schedule R, Part V, line 2...........
36
 
 
37
Did the organization conduct more than 5% of its activities through an entity that is not a related organization and that is treated as a partnership for federal income tax purposes? If “Yes,” complete Schedule R, Part VI
37
 
No
38
Did the organization complete Schedule O and provide explanations in Schedule O for Part VI, lines 11 and 19? Note. All Form 990 filers are required to complete Schedule O. ............
38
Yes
 
Form 990 (2011)
Form 990 (2011)
Page 5
Part V
Statements Regarding Other IRS Filings and Tax Compliance
Check if Schedule O contains a response to any question in this Part V .........
Yes
No
1a
Enter the number reported in Box 3 of Form 1096. Enter -0- if not applicable. .......
1a
100,774
b
Enter the number of Forms W-2G included in line 1a. Enter -0- if not applicable.
1b
0
c
Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners? ..................
1c
Yes
 
2a
Enter the number of employees reported on Form W-3, Transmittal of Wage and Tax Statements filed for the calendar year ending with or within the year covered by this return .....................
2a
813
b
If at least one is reported on line 2a, did the organization file all required federal employment tax returns?

Note. If the sum of lines 1a and 2a is greater than 250, you may be required to e-file. (see instructions)
2b
Yes
 
3a
Did the organization have unrelated business gross income of $1,000 or more during the year?.............................
3a
 
No
b
If “Yes,” has it filed a Form 990-T for this year? If “No,” provide an explanation in Schedule O.....
3b
 
 
4a
At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign country (such as a bank account or securities account)?.......................
4a
 
No
b
If "Yes," enter the name of the foreign country: MediumBullet
See instructions for filing requirements for Form TD F 90-22.1, Report of Foreign Bank and Financial Accounts.
5a
Was the organization a party to a prohibited tax shelter transaction at any time during the tax year?..
5a
 
No
b
Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?
5b
 
No
c
If “Yes” to line 5a or 5b, did the organization file Form 8886-T? ........
5c
 
 
6a
Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization solicit any contributions that were not tax deductible?..........
6a
 
No
b
If “Yes,” did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible?........................
6b
 
 
7
Organizations that may receive deductible contributions under section 170(c).
a
Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payor?....................
7a
 
No
b
If “Yes,” did the organization notify the donor of the value of the goods or services provided?.....
7b
 
 
c
Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282?...........................
7c
 
No
d
If “Yes,” indicate the number of Forms 8282 filed during the year ....
7d
 
e
Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?..........................
7e
 
No
f
Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract?..
7f
 
No
g
If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required?...................
7g
 
 
h
If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C?...............
7h
 
 
8
Sponsoring organizations maintaining donor advised funds and section 509(a)(3) supporting organizations. Did the supporting organization, or a donor advised fund maintained by a sponsoring organization, have excess business holdings at any time during the year?................
8
 
 
9
Sponsoring organizations maintaining donor advised funds.
a
Did the organization make any taxable distributions under section 4966?.........
9a
 
 
b
Did the organization make a distribution to a donor, donor advisor, or related person?......
9b
 
 
10
Section 501(c)(7) organizations. Enter:
a
Initiation fees and capital contributions included on Part VIII, line 12 ...
10a
 
b
Gross receipts, included on Form 990, Part VIII, line 12, for public use of club facilities
10b
 
11
Section 501(c)(12) organizations. Enter:
a
Gross income from members or shareholders .........
11a
 
b
Gross income from other sources (Do not net amounts due or paid to other sources against amounts due or received from them) ........
11b
 
12a
Section 4947(a)(1) non-exempt charitable trusts. Is the organization filing Form 990 in lieu of Form 1041?
12a
 
 
b
If “Yes,” enter the amount of tax-exempt interest received or accrued during the year.
12b
 
13
Section 501(c)(29) qualified nonprofit health insurance issuers.
a
Is the organization licensed to issue qualified health plans in more than one state?
Note. All 501(c)(29) organizations must list in Schedule O each state in which they are licensed to issue qualified health plans, the amount of reserves required by each state, and the amount of reserves the organization allocated to each state.
13a
 
 
b
Enter the aggregate amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans.
13b
 
c
Enter the aggregate amount of reserves on hand.
13c
 
14a
Did the organization receive any payments for indoor tanning services during the tax year?.....
14a
 
 
b
If "Yes," has it filed a Form 720 to report these payments? If “No,” provide an explanation in Schedule O..
14b
 
 
Form 990 (2011)
Form 990 (2011)
Page 6
Part VI
Governance, Management, and Disclosure For each “Yes” response to lines 2 through 7b below, and for a “No” response to lines 8a, 8b, or 10b below, describe the circumstances, processes, or changes in Schedule O. See instructions.
Check if Schedule O contains a response to any question in this Part VI .........
Section A. Governing Body and Management
Yes
No
1a
Enter the number of voting members of the governing body at the end of the tax year
If the governing body delegated broad authority to an executive committee or similar committee, explain in Schedule O.
1a
10
b
Enter the number of voting members included in line 1a, above, who are independent .................
1b
9
2
Did any officer, director, trustee, or key employee have a family relationship or a business relationship with any other officer, director, trustee, or key employee? .................
2
 
No
3
Did the organization delegate control over management duties customarily performed by or under the direct supervision of officers, directors or trustees, or key employees to a management company or other person? .
3
 
No
4
Did the organization make any significant changes to its governing documents since the prior Form 990 was filed?
4
 
No
5
Did the organization become aware during the year of a significant diversion of the organization’s assets? .
5
 
No
6
Did the organization have members or stockholders? ................
6
Yes
 
7a
Did the organization have members, stockholders, or other persons who had the power to elect or appoint one or more members of the governing body? .................
7a
Yes
 
b
Are any governance decisions of the organization reserved to (or subject to approval by) members, stockholders, or persons other than the governing body? ............
7b
Yes
 
8
Did the organization contemporaneously document the meetings held or written actions undertaken during the year by the following:
a
The governing body? .........................
8a
Yes
 
b
Each committee with authority to act on behalf of the governing body? ..........
8b
Yes
 
9
Is there any officer, director, trustee, or key employee listed in Part VII, Section A, who cannot be reached at the organization’s mailing address? If “Yes,” provide the names and addresses in Schedule O .....
9
 
No
Section B. Policies (This Section B requests information about policies not required by the Internal
Revenue Code.)
Yes
No
10a
Did the organization have local chapters, branches, or affiliates? ............
10a
 
No
b
If “Yes,” did the organization have written policies and procedures governing the activities of such chapters, affiliates, and branches to ensure their operations are consistent with the organization's exempt purposes? ....
10b
 
 
11a
Has the organization provided a complete copy of this Form 990 to all members of its governing body before filing the form?
11a
Yes
 
b
Describe in Schedule O the process, if any, used by the organization to review the Form 990. .....
12a
Did the organization have a written conflict of interest policy? If “No,” go to line 13.......
12a
Yes
 
b
Were officers, directors or trustees, and key employees required to disclose annually interests that could give rise to conflicts? ........................
12b
Yes
 
c
Did the organization regularly and consistently monitor and enforce compliance with the policy? If “Yes,” describe in Schedule O how this was done ....................
12c
Yes
 
13
Did the organization have a written whistleblower policy? ...............
13
Yes
 
14
Did the organization have a written document retention and destruction policy? .........
14
Yes
 
15
Did the process for determining compensation of the following persons include a review and approval by independent persons, comparability data, and contemporaneous substantiation of the deliberation and decision?
a
The organization’s CEO, Executive Director, or top management official ...........
15a
Yes
 
b
Other officers or key employees of the organization ................
15b
Yes
 
If "Yes," to line 15a or 15b, describe the process in Schedule O (see instructions).
16a
Did the organization invest in, contribute assets to, or participate in a joint venture or similar arrangement with a taxable entity during the year? ......................
16a
 
No
b
If “Yes,” did the organization follow a written policy or procedure requiring the organization to evaluate its participation in joint venture arrangements under applicable federal tax law, and take steps to safeguard the organization’s exempt status with respect to such arrangements? ............
16b
 
 
Section C. Disclosure
17
List the States with which a copy of this Form 990 is required to be filedMediumBullet
NM , OR
18
Section 6104 requires an organization to make its Form 1023 (or 1024 if applicable), 990, and 990-T (501(c)(3)s only) available for public inspection. Indicate how you made these available. Check all that apply.
19
Describe in Schedule O whether (and if so, how), the organization made its governing documents, conflict of interest policy, and financial statements available to the public during the tax year.
20
State the name, physical address, and telephone number of the person who possesses the books and records of the organization: MediumBullet
GREGORY VAN GUILDER
1 IMATION PLACE BLDG 2
OAKDALE,MN551283422
(651) 221-0566
Form 990 (2011)
Form 990 (2011)
Page 7
Part VII
Compensation of Officers, Directors,Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors
Check if Schedule O contains a response to any question in this Part VII .........
Section A. Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees
1a Complete this table for all persons required to be listed. Report compensation for the calendar year ending with or within the organization’s tax year.
RoundBullet List all of the organization’s current officers, directors, trustees (whether individuals or organizations), regardless of amount
of compensation, and current key employees. Enter -0- in columns (D), (E), and (F) if no compensation was paid.

RoundBullet List all of the organization’s current key employees, if any. See instructions for definition of "key employee."
RoundBullet List the organization’s five current highest compensated employees (other than an officer, director, trustee or key employee)
who received reportable compensation (Box 5 of Form W-2 and/or Box 7 of Form 1099-MISC) of more than $100,000 from the
organization and any related organizations.

RoundBullet List all of the organization’s former officers, key employees, or highest compensated employees who received more than $100,000
of reportable compensation from the organization and any related organizations.

RoundBullet List all of the organization’s former directors or trustees that received, in the capacity as a former director or trustee of the
organization, more than $10,000 of reportable compensation from the organization and any related organizations.

List persons in the following order: individual trustees or directors; institutional trustees; officers; key employees; highest
compensated employees; and former such persons.
Check this box if neither the organization nor any related organizations compensated any current or former officer, director, or trustee.
(A)
Name and Title 		(B)
Average hours per week (describe hours for related organizations in Schedule O) 		(C)
Position (do not check more than one box, unless person is both an officer and a director/trustee) 		(D)
Reportable compensation from the organization (W- 2/1099-MISC) 		(E)
Reportable compensation from related organizations (W- 2/1099-MISC) 		(F)
Estimated amount of other compensation from the organization and related organizations
Individual Trustee or Director; Institutional Trustee; Officer; Key Employee; Highest compensated employee; Former;
(1) ROBERT STEIN
Board Chair
 1.00 X           0 105,155 0
(2) GARY COOK
Director
 1.00 X           0 82,154 0
(3) ROBERTA COOPER RAMO
Director
 1.00 X           0 95,055 0
(4) JOHN DEPODESTA
Director
 1.00 X           0 105,154 0
(5) EDWARD JENNINGS
Director
 1.00 X           0 74,155 0
(6) I KING JORDAN
Director
 1.00 X           0 82,155 0
(7) JAMES MCKEON
Director
 1.00 X           0 81,155 0
(8) JACK O'CONNELL
Director
 1.00 X           0 44,770 0
(9) MAURICE SALTER
Director
 1.00 X           0 44,770 0
(10) RICHARD BOYLE
Director/ECMC Group CEO
 6.00 X           0 895,486 47,410
(11) GREGORY VAN GUILDER
Chief Financial Officer
 2.00     X       0 473,578 52,753
(12) JANICE HINES
President/CEO
 46.00     X       419,864 0 47,160
(13) EDWARD SPEAR
Chief Information Officer
 56.00     X       0 356,800 45,410
(14) DANIEL FISHER
Sec/Gen Counsel
 18.00     X       0 380,088 56,000
(15) HEIDI JOHNSON
Exec Vice President
 51     X       303,537   55,801
(16) MATTHEW MIKULSKI
Sr Vice President
 20     X       210,824   47,898
(17) KATHLEEN KING
Controller
 50     X       242,440   44,101
Form 990 (2011)
Form 990 (2011)
Page 8
Part VII
Section A. Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees (continued)
(A)
Name and Title 		(B)
Average hours per week (describe hours for related organizations in Schedule O) 		(C)
Position (do not check more than one box, unless person is both an officer and a director/trustee) 		(D)
Reportable compensation from the organization (W- 2/1099-MISC) 		(E)
Reportable compensation from related organizations (W- 2/1099-MISC) 		(F)
Estimated amount of other compensation from the organization and related organizations
Individual Trustee or Director; Institutional Trustee; Officer; Key Employee; Highest compensated employee; Former;
(18) FRED CHAMBERS
Vice President
 36     X       144,280 47,767 42,666
(19) MICHAEL HEFFERNAN
Vice President
 48     X       184,537   44,522
(20) HEATHER RENNER
Vice President
 0     X         191,814 35,721
(21) DEBORAH RUDE
Vice President
 48     X       212,262   22,764
(22) MARY SANDNESS
Vice President
 44     X       196,776   46,194
(23) MARTIN SCANLON
Vice President
 46     X       351,533   52,367
(24) THERESE BICKLER
Vice President
 47     X       257,924   53,535
(25) LEN HYDE
Vice President
 45     X       257,163   50,850










1b Sub-Total................MediumBullet
c Total from continuation sheets to Part VII, Section A....MediumBullet
d Total (add lines 1b and 1c)............MediumBullet 5,263,790 4,216,444 1,214,637
2
Total number of individuals (including but not limited to those listed above) who received more than $100,000 of reportable compensation from the organizationMediumBullet119
Yes
No
3
Did the organization list any former officer, director or trustee, key employee, or highest compensated employee on line 1a? If “Yes,” complete Schedule J for such individual .............
3
Yes
 
4
For any individual listed on line 1a, is the sum of reportable compensation and other compensation from the organization and related organizations greater than $150,000? If “Yes,” complete Schedule J for such individual...........................
4
Yes
 
5
Did any person listed on line 1a receive or accrue compensation from any unrelated organization or individual for services rendered to the organization? If “Yes,” complete Schedule J for such person .....
5
 
No
Section B. Independent Contractors
1
Complete this table for your five highest compensated independent contractors that received more than $100,000 of compensation from the organization. Report compensation for the calendar year ending with or within the organization’s tax year.
(A)
Name and business address 		(B)
Description of services 		(C)
Compensation
GC SERVICES
6330 GULFTON ST
HOUSTON,TX77081 		Collection Agency 6,015,563
WINDHAM PROFESSIONALS INC
380 MAIN ST
SALEM,NH03079 		Collection Agency 4,835,075
NCO FINANCIAL SYSTEMS
24886 NETWORK PLACE
CHICAGO,IL606731248 		Collection Agency 4,628,274
GENERAL REVENUE CORPORATION
PO BOX 7
ARCADE,NY14009 		Collection Agency 3,280,143
PIONEER CREDIT RECOVERY INC
PO BOX 100
ARCADE,NY14009 		Collection Agency 2,944,657
2
Total number of independent contractors (including but not limited to those listed above) who received more than $100,000 of compensation from the organization MediumBullet45
Form 990 (2011)
Form 990 (2011)
Page 9
Part VIII
Statement of Revenue
(A)
Total revenue 		(B)
Related or
exempt
function
revenue 		(C)
Unrelated
business
revenue 		(D)
Revenue
excluded from
tax under sections
512, 513, or 514
Contributions, Gifts, Grants and Other Similar Amounts 1a Federated campaigns..1a  
b Membership dues....1b  
c Fundraising events....1c  
d Related organizations...1d  
e Government grants (contributions)1e  
f All other contributions, gifts, grants, and
similar amounts not included above1f 		 
g Noncash contributions included in lines 1a-1f:$  
h Total. Add lines 1a-1f.......MediumBullet  
Program Service Revenue Business Code
2a Collection Revenue 900,099 319,643,704      
b Default Aversion 900,099 32,117,955      
c Acct Maint/Loan Processing 900,099 20,954,607      
d Bankruptcy Servicing 900,099 8,883,339      
e Standby Capacity 900,099 1,305,500      
f All other program service revenue .        
g Total. Add lines 2a–2f........MediumBullet 382,905,105
Other Revenue 3 Investment income (including dividends, interest
and other similar amounts).....MediumBullet 235,378     235,378
4 Income from investment of tax-exempt bond proceeds..MediumBullet        
5 Royalties............MediumBullet        
(i) Real (ii) Personal
6a Gross rents    
b Less: rental expenses    
c Rental income or (loss)    
d Net rental income or (loss).......MediumBullet        
(i) Securities (ii) Other
7a Gross amount from sales of assets other than inventory    
b Less: cost or other basis and sales expenses    
c Gain or (loss)    
d Net gain or (loss)..........MediumBullet        
8a Gross income from fundraising events (not including
$  
of contributions reported on line 1c). See Part IV, line 18 ...
a  
b Less: direct expenses ...b  
c Net income or (loss) from fundraising events..MediumBullet      
9a Gross income from gaming activities.
See Part IV, line 19 ...
a  
b Less: direct expenses ...b  
c Net income or (loss) from gaming activities...MediumBullet        
10a Gross sales of inventory, less
returns and allowances .
a  
b Less: cost of goods sold ..b  
c Net income or (loss) from sales of inventory..MediumBullet        
Miscellaneous Revenue Business Code
11a            
b            
c            
d All other revenue ....        
e Total. Add lines 11a–11d ......MediumBullet  
12 Total revenue. See Instructions....MediumBullet 383,140,483 382,905,105   235,378
Form 990 (2011)
Form 990 (2011)
Page 10
Part IX
Statement of Functional Expenses
Section 501(c)(3) and 501(c)(4) organizations must complete all columns. All other organizations must complete column (A) but are not required to complete columns (B), (C), and (D).
Check if Schedule O contains a response to any question in this Part IX. .........
Do not include amounts reported on lines 6b,
7b, 8b, 9b, and 10b of Part VIII. 		(A)
Total expenses 		(B)
Program service expenses 		(C)
Management and general expenses 		(D)
Fundraising expenses
1 Grants and other assistance to governments and organizations in the United States. See Part IV, line 21 119,823,166 119,823,166
2 Grants and other assistance to individuals in the United States. See Part IV, line 22 26,857 26,857
3 Grants and other assistance to governments, organizations, and individuals outside the United States. See Part IV, lines 15 and 16    
4 Benefits paid to or for members    
5 Compensation of current officers, directors, trustees, and key employees .... 6,839,015 4,728,119 2,110,896 0
6 Compensation not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B) ....        
7 Other salaries and wages 47,287,251 38,872,910 8,414,341 0
8 Pension plan accruals and contributions (include section 401(k) and 403(b) employer contributions) .... 3,060,210 2,454,522 605,688 0
9 Other employee benefits ....... 6,577,827 5,275,920 1,301,907 0
10 Payroll taxes ........... 3,360,268 2,695,191 665,077 0
11 Fees for services (non-employees):        
a Management ......        
b Legal ......... 3,404,234 3,350,938 53,296 0
c Accounting ........... 2,450,604 2,321,260 129,344 0
d Lobbying ...........        
e Professional fundraising. See Part IV, line 17..    
f Investment management fees ......        
g Other .......... 8,954,117 6,844,894 2,109,223 0
12 Advertising and promotion .... 7,683 6,547 1,136 0
13 Office expenses ....... 8,098,850 5,905,831 2,193,019 0
14 Information technology ...... 6,074,499 3,315,123 2,759,376 0
15 Royalties ..        
16 Occupancy ........... 4,361,962 3,699,673 662,289 0
17 Travel ............ 1,017,726 569,029 448,697 0
18 Payments of travel or entertainment expenses for any federal, state, or local public officials ......        
19 Conferences, conventions, and meetings .... 338,369 156,050 182,319 0
20 Interest ...........        
21 Payments to affiliates ....... 10,730,766 10,730,766 0 0
22 Depreciation, depletion, and amortization ..... 9,053,754 8,037,852 1,015,902 0
23 Insurance .............. 580,241 380,019 200,222 0
24 Other expenses. Itemize expenses not covered above (List miscellaneous expenses in line 24f. If line 24f amount exceeds 10% of line 25, column (A) amount, list line 24f expenses on Schedule O.)
a Default Aversion Fees 23,082,000 23,082,000 0 0
b Commission expense 29,971,123 29,971,123 0 0
c Federal Default Fees 104 104 0 0
d
e
f All other expenses 428,769 428,722 47 0
25 Total functional expenses. Add lines 1 through 24f 295,529,395 272,676,616 22,852,779 0
26 Joint costs. Complete this line only if the organization reported in column (B) joint costs from a combined educational campaign and fundraising solicitation. Check here MediumBullet if following SOP 98-2 (ASC 958-720).        
Form 990 (2011)
Form 990 (2011)
Page 11
Part X Balance Sheet
(A)
Beginning of year 		(B)
End of year
Assets 1 Cash—non-interest-bearing .......... 44,954,706 1 105,076,710
2 Savings and temporary cash investments ....... 57,449,214 2 134,051,354
3 Pledges and grants receivable, net .........   3  
4 Accounts receivable, net ......... 38,085,124 4 24,262,875
5 Receivables from current and former officers, directors, trustees, key employees, and highest compensated employees. Complete Part II of
Schedule L ..........   5  
6 Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B). Complete Part II of
Schedule L ..........   6  
7 Notes and loans receivable, net ............. 7,967,359 7 6,318,359
8 Inventories for sale or use ..............   8  
9 Prepaid expenses and deferred charges ............ 2,951,548 9 2,287,018
10a Land, buildings, and equipment: cost or other basis. Complete Part VI of Schedule D 10a 60,219,602
b Less: accumulated depreciation. ..... 10b 29,834,522 30,274,642 10c 30,385,080
11 Investments—publicly traded securities ..........   11  
12 Investments—other securities. See Part IV, line 11 ......   12  
13 Investments—program-related. See Part IV, line 11 ..   13  
14 Intangible assets ......... 635,227 14 453,733
15 Other assets. See Part IV, line 11 ........... 769,393,142 15 499,552,171
16 Total assets. Add lines 1 through 15 (must equal line 34)... 951,710,962 16 802,387,300
Liabilities 17 Accounts payable and accrued expenses . 89,452,690 17 82,237,423
18 Grants payable ..........   18  
19 Deferred revenue ..........   19  
20 Tax-exempt bond liabilities ..........   20  
21 Escrow or custodial account liability. Complete Part IV of Schedule D..   21  
22 Payables to current and former officers, directors, trustees, key
employees, highest compensated employees, and disqualified
persons. Complete Part II of Schedule L..........   22  
23 Secured mortgages and notes payable to unrelated third parties ..   23  
24 Unsecured notes and loans payable to unrelated third parties ....   24  
25 Other liabilities (including federal income tax, payables to related third parties, and other liabilities not included on lines 17-24). Complete Part X of Schedule D..... 723,932,797 25 489,322,800
26 Total liabilities. Add lines 17 through 25..... 813,385,487 26 571,560,223
Net Assets or Fund Balance Organizations that follow SFAS 117, check here MediumBullet and complete lines 27 through 29, and lines 33 and 34.
27 Unrestricted net assets ..... 138,325,475 27 230,827,077
28 Temporarily restricted net assets .....   28  
29 Permanently restricted net assets .....   29  
Organizations that do not follow SFAS 117, check here MediumBullet and complete lines 30 through 34.
30 Capital stock or trust principal, or current funds .....   30  
31 Paid-in or capital surplus, or land, building or equipment fund .....   31  
32 Retained earnings, endowment, accumulated income, or other funds   32  
33 Total net assets or fund balances ..... 138,325,475 33 230,827,077
34 Total liabilities and net assets/fund balances ..... 951,710,962 34 802,387,300
Form 990 (2011)
Form 990 (2011)
Page 12
Part XI
Reconcilliation of Net Assets
Check if Schedule O contains a response to any question in this Part XI .........
1
Total revenue (must equal Part VIII, column (A), line 12) ...
1
383,140,483
2
Total expenses (must equal Part IX, column (A), line 25) ....
2
295,529,395
3
Revenue less expenses. Subtract line 2 from line 1 ...
3
87,611,088
4
Net assets or fund balances at beginning of year (must equal Part X, line 33, column (A)) ..
4
138,325,475
5
Other changes in net assets or fund balances (explain in Schedule O) ...
5
4,890,514
6
Net assets or fund balances at end of year. Combine lines 3, 4, and 5 (must equal Part X, line 33, column (B)) ....
6
230,827,077
Part XII
Financial Statements and Reporting
Check if Schedule O contains a response to any question in this Part XII .........
Yes
No
1
Accounting method used to prepare the Form 990:  
If the organization changed its method of accounting from a prior year or checked "Other," explain in
Schedule O.
2a
Were the organization’s financial statements compiled or reviewed by an independent accountant?....
2a
 
No
b
Were the organization’s financial statements audited by an independent accountant?........
2b
Yes
 
c
If “Yes,” to 2a or 2b, does the organization have a committee that assumes responsibility for oversight of the audit, review, or compilation of its financial statements and selection of an independent accountant? If the organization changed either its oversight process or selection process during the tax year, explain in Schedule O. ...........................
2c
Yes
 
d
If “Yes” to line 2a or 2b, check a box below to indicate whether the financial statements for the year were issued on a separate basis, consolidated basis, or both:
3a
As a result of a federal award, was the organization required to undergo an audit or audits as set forth in the Single Audit Act and OMB Circular A-133? ................
3a
Yes
 
b
If “Yes,” did the organization undergo the required audit or audits? If the organization did not undergo the required audit or audits, explain why in Schedule O and describe any steps taken to undergo such audits. ..
3b
Yes
 
Form 990 (2011)
Additional Data


Software ID: 11000175
Software Version:  
Form 990, Special Condition Description:
Special Condition Description
SCHEDULE A
(Form 990 or 990EZ)

Department of the Treasury
Internal Revenue Service
Public Charity Status and Public Support

Complete if the organization is a section 501(c)(3) organization or a section
4947(a)(1) nonexempt charitable trust.
right arrow Attach to Form 990 or Form 990-EZ. right arrow See separate instructions.
OMB No. 1545-0047
2011
Open to Public
Inspection
Name of the organization
EDUCATIONAL CREDIT MANAGEMENT CORPORATION
 
Employer identification number

41-1778617
Part I
Reason for Public Charity Status (All organizations must complete this part.) See instructions
The organization is not a private foundation because it is: (For lines 1 through 11, check only one box.)
1
2
3
4
5
section 170(b)(1)(A)(iv). (Complete Part II.)
6
7
8
9
receipts from activities related to its exempt functions—subject to certain exceptions, and (2) no more than 331/3% of
its support from gross investment income and unrelated business taxable income (less section 511 tax) from businesses
acquired by the organization after June 30, 1975. See section 509(a)(2). (Complete Part III.)
10
11
e
f
g
(i) a person who directly or indirectly controls, either alone or together with persons described in (ii)
Yes
No
and (iii) below, the governing body of the the supported organization? ................
11g(i)
 
 
(ii) a family member of a person described in (i) above? ......................
11g(ii)
 
 
(iii) a 35% controlled entity of a person described in (i) or (ii) above? ................
11g(iii)
 
 
h
(i)
Name of supported organization 		(ii)
EIN 		(iii)
Type of organization (described on lines 1- 9 above or IRC section (see instructions)) 		(iv)
Is the organization in col. (i) listed in your governing document? 		(v)
Did you notify the organization in col. (i) of your support? 		(vi)
Is the organization in col. (i) organized in the U.S.? 		(vii)
Amount of support?
Yes No Yes No Yes No
Total                  

For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 11285F
Schedule A (Form 990 or 990-EZ) 2011
Schedule A (Form 990 or 990-EZ) 2011
Page 2
Part II
Support Schedule for Organizations Described in IRC 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi)
(Complete only if you checked the box on line 5, 7, or 8 of Part I or if the organization failed to qualify under Part III. If the organization fails to qualify under the tests listed below, please complete Part III.)
Section A. Public Support
Calendar year(or fiscal year beginning in) (a) 2007 (b) 2008 (c) 2009 (d) 2010 (e) 2011 (f) Total
1 Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grants.") ....            
2 Tax revenues levied for the organization's benefit and either paid to or expended on its behalf.......            
3 The value of services or facilities furnished by a governmental unit to the organization without charge..            
4 Total. Add lines 1 through 3..            
5 The portion of total contributions by each person (other than a governmental unit or publicly supported organization) included on line 1 that exceeds 2% of the amount shown on line 11, column (f)..            
6 Public Support. Subtract line 5 from line 4.           0
Section B. Total Support
Calendar year(or fiscal year beginning in) (a) 2007 (b) 2008 (c) 2009 (d) 2010 (e) 2011 (f) Total
7 Amounts from line 4..            
8 Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources..           0
9 Net income from unrelated business activities, whether or not the business is regularly carried on..            
10 Other income. (Explain in Part IV.) Do not include gain or loss from the sale of capital assets..            
11 Total support (Add lines 7 through 10).            
12
12
 
13
Section C. Computation of Public Support Percentage
14
14
0 %
15
15
 
16a
b
17a
b
18
Schedule A (Form 990 or 990-EZ) 2011
Schedule A (Form 990 or 990-EZ) 2011
Page 3
Part III
Support Schedule for Organizations Described in IRC 509(a)(2)
(Complete only if you checked the box on line 9 of Part I or if the organization failed to qualify under Part II. If the organization fails to qualify under the tests listed below, please complete Part II.)
Section A. Public Support
Calendar year(or fiscal year beginning in) (a) 2007 (b) 2008 (c) 2009 (d) 2010 (e) 2011 (f) Total
1 Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grants.") .            
2 Gross receipts from admissions, merchandise sold or services performed, or facilities furnished in any activity that is related to the organization's tax-exempt purpose...... 98,266,423 135,842,876 125,751,877 168,227,121 382,905,105 910,993,402
3 Gross receipts from activities that are not an unrelated trade or business under section 513..            
4 Tax revenues levied for the organization's benefit and either paid to or expended on its behalf...            
5 The value of services or facilities furnished by a governmental unit to the organization without charge..            
6 Total. Add lines 1 through 5. 98,266,423 135,842,876 125,751,877 168,227,121 382,905,105 910,993,402
7a Amounts included on lines 1, 2, and 3 received from disqualified persons...            
b Amounts included on lines 2 and 3 received from other than disqualified persons that exceed the greater of $5,000 or 1% of the amount on line 13 for the year. 303,710   47,322     351,032
c Add lines 7a and 7b.. 303,710   47,322     351,032
8 Public Support (Subtract line 7c from line 6.)           910,642,370
Section B. Total Support
Calendar year (or fiscal year beginning in) (a) 2007 (b) 2008 (c) 2009 (d) 2010 (e) 2011 (f) Total
9 Amounts from line 6... 98,266,423 135,842,876 125,751,877 168,227,121 382,905,105 910,993,402
10a Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources.. 1,910,015 1,329,555 65,874 42,696 235,378 3,583,518
b Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975.            
c Add lines 10a and 10b. 1,910,015 1,329,555 65,874 42,696 235,378 3,583,518
11 Net income from unrelated business activities not included in line 10b, whether or not the business is regularly carried on.            
12 Other income. Do not include gain or loss from the sale of capital assets (Explain in Part IV.) 2,600         2,600
13 Total support (Add lines 9, 10c, 11 and 12.).           914,579,520
14
Section C. Computation of Public Support Percentage
15
15
99.570 %
16
16
99.180 %
Section D. Computation of Investment Income Percentage
17
17
0.390 %
18
18
0.760 %
19a
b
20
Schedule A (Form 990 or 990-EZ) 2011
Schedule A (Form 990 or 990-EZ) 2011
Page 4
Part IV
Supplemental Information. Supplemental Information. Complete this part to provide the explanation required by Part II, line 10; Part II, line 17a or 17b; or Part III, line 12. Also complete this part for any additional information. (See instructions).
Facts And Circumstances Test
OTHER INCOME PART III, LINE 12; DESCRIPTION: MISCELLANEOUS INCOME; 2007: 2600.;
Explanation
 
 
 
 
Schedule A (Form 990 or 990-EZ) 2011

Additional Data


Software ID: 11000175
Software Version:  
SCHEDULE D
(Form 990)
Department of the Treasury
Internal Revenue Service
Supplemental Financial Statements
SchDMd Bullet Complete if the organization answered "Yes," to Form 990,
Part IV, line 6, 7, 8, 9, 10, 11a, 11b, 11c, 11d, 11e, 11f, 12a, or 12b
SchDMd Bullet Attach to Form 990. SchDMd Bullet See separate instructions.
OMB No. 1545-0047
2011
Open to Public Inspection
Name of the organization
EDUCATIONAL CREDIT MANAGEMENT CORPORATION
 
Employer identification number

41-1778617
Part I
Organizations Maintaining Donor Advised Funds or Other Similar Funds or Accounts. Complete if the organization answered "Yes" to Form 990, Part IV, line 6.
(a) Donor advised funds (b) Funds and other accounts
1 Total number at end of year .......    
2 Aggregate contributions to (during year) ...    
3 Aggregate grants from (during year) ...    
4 Aggregate value at end of year .......    
5
Did the organization inform all donors and donor advisors in writing that the assets held in donor advised
funds are the organization's property, subject to the organization's exclusive legal control? ............
6
Did the organization inform all grantees, donors, and donor advisors in writing that grant funds can be
used only for charitable purposes and not for the benefit of the donor or donor advisor, or for any other purpose conferring impermissible private benefit? ...................................
Part II
Conservation Easements. Complete if the organization answered "Yes" to Form 990, Part IV, line 7.
1
Purpose(s) of conservation easements held by the organization (check all that apply).
2
Complete lines 2a through 2d if the organization held a qualified conservation contribution in the form of a conservation easement on the last day of the tax year.
Held at the End of the Year
a Total number of conservation easements ....................... 2a  
b Total acreage restricted by conservation easements .................. 2b  
c Number of conservation easements on a certified historic structure included in (a) ..... 2c  
d Number of conservation easements included in (c) acquired after 8/17/06, and not on a historic structure listed in the National Register .................... 2d  
3
Number of conservation easements modified, transferred, released, extinguished, or terminated by the organization during
the tax year SchDMd Bullet  
4
Number of states where property subject to conservation easement is located SchDMd Bullet  
5
Does the organization have a written policy regarding the periodic monitoring, inspection, handling of violations, and
enforcement of the conservation easements it holds? .............................
6
Staff and volunteer hours devoted to monitoring, inspecting and enforcing conservation easements during the year SchDMd Bullet  
7
Amount of expenses incurred in monitoring, inspecting, and enforcing conservation easements during the year
SchDMd Bullet $  
8
Does each conservation easement reported on line 2(d) above satisfy the requirements of section
170(h)(4)(B)(i) and 170(h)(4)(B)(ii)? ....................................
9
In Part XIV, describe how the organization reports conservation easements in its revenue and expense statement, and
balance sheet, and include, if applicable, the text of the footnote to the organization’s financial statements that describes
the organization’s accounting for conservation easements.
Part III
Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets.
Complete if the organization answered "Yes" to Form 990, Part IV, line 8.
1a
If the organization elected, as permitted under SFAS 116 (ASC 958), not to report in its revenue statement and balance sheet works of
art, historical treasures, or other similar assets held for public exhibition, education or research in furtherance of public service,
provide, in Part XIV, the text of the footnote to its financial statements that describes these items.
b
If the organization elected, as permitted under SFAS 116 (ASC 958), to report in its revenue statement and balance sheet works of art,
historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service,
provide the following amounts relating to these items:
(i)
Revenues included in Form 990, Part VIII, line 1 ........................SchDMd Bullet $  
(ii)
Assets included in Form 990, Part X ..............................SchDMd Bullet $  
2
If the organization received or held works of art, historical treasures, or other similar assets for financial gain, provide the
following amounts required to be reported under SFAS 116 (ASC 958), relating to these items:
a
Revenues included in Form 990, Part VIII, line 1 ..........................SchDMd Bullet $  
b
Assets included in Form 990, Part X ...............................SchDMd Bullet $  
For Privacy Act and Paperwork Reduction Act Notice, see the Intructions for Form 990
Cat. No. 52283D
Schedule D (Form 990) 2011

Schedule D (Form 990) 2011
Page 2
Part III
Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets (continued)
3
Using the organization’s accession and other records, check any of the following that are a significant use of its collection
items (check all that apply):
a
d
b
e
 
c
4
Provide a description of the organization’s collections and explain how they further the organization’s exempt purpose in
Part XIV.
5
During the year, did the organization solicit or receive donations of art, historical treasures or other similar
assets to be sold to raise funds rather than to be maintained as part of the organization’s collection?........
Part IV
Escrow and Custodial Arrangements. Complete if the organization answered "Yes" to Form 990,
Part IV, line 9, or reported an amount on Form 990, Part X, line 21.
1a
Is the organization an agent, trustee, custodian or other intermediary for contributions or other assets not
included on Form 990, Part X? ....................................
b
If "Yes," explain the arrangement in Part XIV and complete the following table:
Amount
c Beginning balance ................................. 1c  
d Additions during the year .............................. 1d  
e Distributions during the year ............................. 1e  
f Ending balance ................................... 1f  
2a
Did the organization include an amount on Form 990, Part X, line 21? .....................
b
If “Yes,” explain the arrangement in Part XIV.
Part V
Endowment Funds. Complete if the organization answered "Yes" to Form 990, Part IV, line 10.
(a)Current Year (b)Prior Year (c)Two Years Back (d)Three Years Back (e)Four Years Back
1a Beginning of year balance ....        
b Contributions ........        
c Net investment earnings, gains, and losses ...        
d Grants or scholarships .....        
e Other expenditures for facilities
and programs ........ 		       
f Administrative expenses ....        
g End of year balance ......        
2
Provide the estimated percentage of the year end balance (line 1g) held as:
a
Board designated or quasi-endowment SchDMd Bullet  
b
Permanent endowment SchDMd Bullet  
c
Temporarily restricted endowment SchDMd Bullet  
The percentages in lines 2a, 2b, and 2c should equal 100%.
3a
Are there endowment funds not in the possession of the organization that are held and administered for the
organization by:

Yes
No
(i) unrelated organizations ........................
3a(i)
 
 
(ii) related organizations ........................
3a(ii)
 
 
b
If "Yes" to 3a(ii), are the related organizations listed as required on Schedule R? .........
3b
 
 
4
Describe in Part XIV the intended uses of the organization's endowment funds.
Part VI
Land, Buildings, and Equipment. See Form 990, Part X, line 10.
Description of property (a) Cost or other basis (investment) (b)Cost or other basis (other) (c) Accumulated depreciation (d) Book value
1a Land .................      
b Buildings ................        
c Leasehold improvements ............   9,492,372 2,584,963 6,907,409
d Equipment ................   14,616,023 7,481,955 7,134,068
e Other .................   36,111,207 19,767,604 16,343,603
Total. Add lines 1a through 1e. (Column (d) must equal Form 990, Part X, column (B), line 10(c).).......SchDMdBullet 30,385,080
Schedule D (Form 990) 2011

Schedule D (Form 990) 2011
Page 3
Part VII
Investments—Other Securities. See Form 990, Part X, line 12.
(a) Description of security or category
(including name of security)		 (b)Book value (c) Method of valuation:
Cost or end-of-year market value
(1)Financial derivatives    
(2)Closely-held equity interests    
Other








Total. (Column (b) must equal Form 990, Part X, col. (B) line 12.)Small Bullet  
Part VIII
Investments—Program Related. See Form 990, Part X, line 13.
(a) Description of investment type (b) Book value (c) Method of valuation:
Cost or end-of-year market value








Total. (Column (b) must equal Form 990, Part X, col.(B) line 13.)Small Bullet  
Part IX
Other Assets. See Form 990, Part X, line 15.
(a) Description (b) Book value
(1) Custodial assets held for Guarantor Federal Reserve 422,010,292
(2) Custodial assets held for Federal Services Bureau 40,786,508
(3) Due from Federal Services Bureau 247,159
(4) Due from Guarantor Federal Reserve 35,282,373
(5) Due from ECMC Group, Inc. 1,197,563
(6) Due from ECMC Records & Receivable Mgt Corporation 8,903
(7) Due from ECMC Holdings Corporation 2,680
(8) Due from ECMC Educational Credit Services Company 41
(9) Security Deposits 16,652
Total. (Column (b) must equal Form 990, Part X, col.(B) line 15.)...........Small Bullet 499,552,171
Part X
Other Liabilities. See Form 990, Part X, line 25.
1.(a) Description of Liability (b) Book value
Federal Income Taxes  
Obligations to Guarantor Federal Reserve 422,010,292
Obligatins to Federal Services Bureau 40,786,508
Due to ECMC Group, Inc. 26,453,208
ECMC Solutions Corporation 64,277
Due to ECMC Foundation 8,515




Total. (Column (b) must equal Form 990, Part X, col.(B) line 25.)Small Bullet 489,322,800
2. Fin 48 (ASC 740) Footnote. In Part XIV, provide the text of the footnote to the organization's financial statements that reports the organization's liability for uncertain tax positions under FIN 48 (ASC740).
Schedule D (Form 990) 2011

Schedule D (Form 990) 2011
Page 4
Part XI Reconciliation of Change in Net Assets from Form 990 to Financial Statements
1 Total revenue (Form 990, Part VIII, column (A), line 12) .................... 1 383,140,483
2 Total expenses (Form 990, Part IX, column (A), line 25) ..................... 2 295,529,395
3 Excess or (deficit) for the year. Subtract line 2 from line 1 ............. 3 87,611,088
4 Net unrealized gains (losses) on investments .......................... 4  
5 Donated services and use of facilities ............................. 5  
6 Investment expenses ................................... 6  
7 Prior period adjustments .................................. 7  
8 Other (Describe in Part XIV.) ................................. 8 4,890,514
9 Total adjustments (net). Add lines 4 through 8 ......................... 9 4,890,514
10 Excess or (deficit) for the year per financial statements. Combine lines 3 and 9 ......... 10 92,501,602
Part XII Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
1 Total revenue, gains, and other support per audited financial statements ....... 1 374,257,144
2 Amounts included on line 1 but not on Form 990, Part VIII, line 12:
a Net unrealized gains on investments .......... 2a  
b Donated services and use of facilities ......... 2b  
c Recoveries of prior year grants ........... 2c  
d Other (Describe in Part XIV.) ............ 2d  
e Add lines 2a through 2d ..................... 2e  
3 Subtract line 2e from line 1..................... 3 374,257,144
4 Amounts included on Form 990, Part VIII, line 12, but not on line 1:
a Investment expenses not included on Form 990, Part VIII, line 7b . 4a  
b Other (Describe in Part XIV.) ........... 4b 8,883,339
c Add lines 4a and 4b....................... 4c 8,883,339
5 Total Revenue. Add lines 3 and 4c. (This must equal Form 990, Part I, line 12.) ...... 5 383,140,483
Part XIII Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
1 Total expenses and losses per audited financial statements ............. 1 286,646,056
2 Amounts included on line 1 but not on Form 990, Part IX, line 25:
a Donated services and use of facilities .......... 2a  
b Prior year adjustments .............. 2b  
c Other losses ................ 2c  
d Other (Describe in Part XIV.) ............ 2d  
e Add lines 2a through 2d...................... 2e  
3 Subtract line 2e from line 1..................... 3 286,646,056
4 Amounts included on Form 990, Part IX, line 25, but not on line 1:
a Investment expenses not included on Form 990, Part VIII, line 7b .. 4a  
b Other (Describe in Part XIV.) ............ 4b 8,883,339
c Add lines 4a and 4b....................... 4c 8,883,339
5 Total expenses. Add lines 3 and 4c. (This must equal Form 990, Part I, line 18.) ...... 5 295,529,395
Part XIV
Supplemental Information
Complete this part to provide the descriptions required for Part II, lines 3, 5, and 9; Part III, lines 1a and 4; Part lV, lines 1b and 2b;
Part V, line 4; Part X; Part XI, line 8; Part XII, lines 2d and 4b; and Part XIII, lines 2d and 4b. Also complete this part to provide any additional information.
Identifier Return Reference Explanation
Pt X   The FIN 48 (ASC 470) disclosure in the ECMC financial statements
    reads as follows: "ECMC is exempt from tax on related income under Section 501(c)(3) and qualifies as a public charity under Section 509(a)(2)." ---
Pt XI Line 8   Transfer of net assets from CSAC: $4,890,514
    ---
Pt XII Line 4b   Bankruptcy Servicing: $8,883,339
    ---
Pt XIII Line 4b   Bankruptcy Servicing: $8,883,339
Schedule D (Form 990) 2011

Additional Data


Software ID: 11000175
Software Version:  




Schedule I
(Form 990)
Department of the Treasury
Internal Revenue Service
Grants and Other Assistance to Organizations,
Governments and Individuals in the United States
Complete if the organization answered "Yes," to Form 990, Part IV, line 21 or 22.
lBullet Attach to Form 990
OMB No. 1545-0047
2011
Open to Public
Inspection
Name of the organization
EDUCATIONAL CREDIT MANAGEMENT CORPORATION
 
Employer identification number
41-1778617
Part I
General Information on Grants and Assistance
1
Does the organization maintain records to substantiate the amount of the grants or assistance, the grantees' eligibility for the grants or assistance, and
the selection criteria used to award the grants or assistance? ....................................
2
Describe in Part IV the organization's procedures for monitoring the use of grant funds in the United States.
Part II
Grants and Other Assistance to Governments and Organizations in the United States. Complete if the organization answered "Yes" to
Form 990, Part IV, line 21 for any recipient that received more than $5,000. Check this box if no one recipient received more than $5,000. Use
Part IV and Schedule I-1 (Form 990) if additional space is needed ......................... lBullet
(a) Name and address of organization
or government		 (b) EIN (c) IRC Code section
if applicable		 (d) Amount of cash grant (e) Amount of non-cash
assistance		 (f) Method of valuation
(book, FMV, appraisal,
other)		 (g) Description of
non-cash assistance		 (h) Purpose of grant
or assistance
(1) ECMC GROUP INC1 IMATION PLACE BLDG 2
OAKDALE,MN55128 		41-1991995 501(c)(3) 119,053,498       Education Opportunity
(2) LOS ANGELES AREA CHAMBER OF COMMERCE FOUNDATION350 S BIXEL ST
LOS ANGELES,CA90017 		95-2597392 501(c)(3) 500,000       Education Grant
(3) CALIFORNIA STUDENT AID COMMISSIONPO BOX 419026
RANCHO CORDOVA,CA95741 		68-0317676 n/a 168,668       IT Equipment
(4) VIRGINIA FOUNDATION101 N 14TH ST 15TH FL
RICHMOND,VA23219 		23-7004354 501(c)(3) 50,000       Program Development
(5) INTERSEGMENTAL COORDINATING COMMITTEE560 J STREET SUITE 290
SACRAMENTO,CA95814 		68-0251110 n/a 25,000       Sponsorship
(6) OAKDALE POLICE EXPLORER POST #2711584 HADLEY AVENUE NORTH
OAKDALE,MN55128 		41-0885735 170(c)(1) 25,000       General Support












2
Enter total number of section 501(c)(3) and government organizations listed in the line 1 table ................. Bullet Image
6
3
Enter total number of other organizations listed in the line 1 table ......................... . Bullet Image
0
For Privacy Act and Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50055P
Schedule I (Form 990) 2011

Schedule I (Form 990) 2011
Page 2
Part III
Grants and Other Assistance to Individuals in the United States. Complete if the organization answered "Yes" to Form 990, Part IV, line 22.
Use Schedule I-1 (Form 990) if additional space is needed.
(a)Type of grant or assistance (b)Number of
recipients		 (c)Amount of
cash grant		 (d)Amount of
non-cash assistance		 (e)Method of valuation (book,
FMV, appraisal, other)		 (f)Description of non-cash assistance
(1) College Night Scholarships 40 20,000      
(2) Grant 1 5,357      
(3) Marmaduke Scholarship 1 1,500      









Part IV
Supplemental Information. Complete this part to provide the information required in Part I, line 2, and any other additional information.
Identifier Return Reference Explanation
Pt I Line 2   ECMC Group, Inc. is effectively the parent of Educational Credit Management
    Corporation (ECMC) and exercises oversight of ECMC by providing strategic
    direction and coordination of programs and services offered by ECMC.
    ECMC Group, Inc. authorizes the distribution from ECMC to ECMC Group, Inc.
    No monitoring of the distributions to ECMC Group, Inc. is required.
    ---
    The remainder of the grants and assistance to the other organizations
    listed in Part II are minimal in nature and generally are issued in
    support of student financial aid conferences and organizations and
    do not require monitoring.
    ---
    The scholarships listed in Part III are issued as jointly payable to the
    student and the school to ensure the funds are used for educational expenses.
    ---
Schedule I (Form 990) 2011


Additional Data


Software ID: 11000175
Software Version:  


Schedule J
(Form 990)
Department of the Treasury
Internal Revenue Service
Compensation Information
For certain Officers, Directors, Trustees, Key Employees, and Highest
Compensated Employees
SchJMediumBullet Complete if the organization answered "Yes" to Form 990,
Part IV, question 23.
SchJMediumBullet Attach to Form 990. SchJMediumBullet See separate instructions.
OMB No. 1545-0047
2011
Open to Public Inspection
Name of the organization
EDUCATIONAL CREDIT MANAGEMENT CORPORATION
 
Employer identification number

41-1778617
Part I
Questions Regarding Compensation
Yes
No
1a
Check the appropiate box(es) if the organization provided any of the following to or for a person listed in Form
990, Part VII, Section A, line 1a. Complete Part III to provide any relevant information regarding these items.
b
If any of the boxes in line 1a are checked, did the organization follow a written policy regarding payment or reimbursement or provision of all the expenses described above? If "No," complete Part III to explain....
1b
Yes
 
2
Did the organization require substantiation prior to reimbursing or allowing expenses incurred by all
officers, directors, trustees, and the CEO/Executive Director, regarding the items checked in line 1a? ....
2
Yes
 
3
Indicate which, if any, of the following the organization uses to establish the compensation of the
organization's CEO/Executive Director. Check all that apply. Do not check any boxes for methods
used by a related organization to establish compensation of the CEO/Executive Director, but explain in Part III.
4
During the year, did any person listed in Form 990, Part VII, Section A, line 1a with respect to the filing organization or a related organization:
a
Receive a severance payment or change-of-control payment? ...............
4a
Yes
 
b
Participate in, or receive payment from, a supplemental nonqualified retirement plan? ........
4b
 
No
c
Participate in, or receive payment from, an equity-based compensation arrangement? ........
4c
 
No
If "Yes" to any of lines 4a-c, list the persons and provide the applicable amounts for each item in Part III.
Only 501(c)(3) and 501(c)(4) organizations only must complete lines 5-9.
5
For persons listed in form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the revenues of:
a
The organization? ...........................
5a
Yes
 
b
Any related organization? .........................
5b
 
No
If "Yes," to line 5a or 5b, describe in Part III.
6
For persons listed in form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the net earnings of:
a
The organization? ...........................
6a
Yes
 
b
Any related organization? .........................
6b
 
No
If "Yes," to line 6a or 6b, describe in Part III.
7
For persons listed in Form 990, Part VII, Section A, line 1a, did the organization provide any non-fixed
payments not described in lines 5 and 6? If "Yes," describe in Part III ............
7
 
No
8
Were any amounts reported in Form 990, Part VII, paid or accured pursuant to a contract that was
subject to the initial contract exception described in Regulations section 53.4958-4(a)(3)? If "Yes," describe
in Part III .............................
8
 
No
9
If "Yes" to line 8, did the organization also follow the rebuttable presumption procedure described in Regulations section 53.4958-6(c)? .........................
9
 
 
For Privacy Act and Paperwork Reduction Act Notice, see the Intructions for Form 990
Cat. No. 50053T
Schedule J (Form 990) 2011

Schedule J (Form 990) 2011
Page 2
Part II
Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees. Use duplicate copies if additional space is needed.
For each individual whose compensation must be reported in Schedule J, report compensation from the organization on row (i) and from related organizations, described in the
instructions on row (ii). Do not list any individuals that are not listed on Form 990, Part VII.

Note. The sum of columns (B)(i)-(iii) for each listed individual must equal the total amount of Form 990, Part VII, Section A, line 1a, applicable column (D) and column (E) for that individual.
(A) Name (B) Breakdown of W-2 and/or 1099-MISC compensation (C) Retirement and other deferred compensation (D) Nontaxable
benefits		 (E) Total of columns
(B)(i)-(D) 		(F) Compensation
reported as deferred
in prior Form 990
(i) Base compensation (ii) Bonus & incentive compensation (iii) Other reportable compensation
(1) RICHARD BOYLE (i)
(ii)		  
474,998 		 
347,000 		 
73,488 		 
29,400 		 
18,010 		 
942,896 		 
 
(2) GREGORY VAN GUILDER (i)
(ii)		  
305,414 		 
166,388 		 
1,776 		 
31,553 		 
21,200 		 
526,331 		 
 
(3) JANICE HINES (i)
(ii)		 255,498
  		154,842
  		9,524
  		29,400
  		17,760
  		467,024
  		 
 
(4) EDWARD SPEAR (i)
(ii)		  
221,998 		 
131,306 		 
3,496 		 
29,400 		 
16,010 		 
402,210 		 
 
(5) DANIEL FISHER (i)
(ii)		  
242,514 		 
134,690 		 
2,884 		 
29,400 		 
26,600 		 
436,088 		 
 
(6) HEIDI JOHNSON (i)
(ii)		 199,444
  		102,051
  		2,042
  		29,400
  		26,401
  		359,338
  		 
 
(7) MATTHEW MIKULSKI (i)
(ii)		 150,759
  		57,819
  		2,246
  		25,698
  		22,200
  		258,722
  		 
 
(8) KATHLEEN KING (i)
(ii)		 162,998
  		76,422
  		3,020
  		29,091
  		15,010
  		286,541
  		 
 
(9) FRED CHAMBERS (i)
(ii)		 81,774
46,994 		58,938
  		3,568
773 		17,427
2,866 		13,990
8,383 		175,697
59,016 		 
 
(10) MICHAEL HEFFERNAN (i)
(ii)		 134,760
  		46,019
  		3,758
  		22,322
  		22,200
  		229,059
  		 
 
(11) HEATHER RENNER (i)
(ii)		  
138,251 		 
51,995 		 
1,568 		 
23,132 		 
12,589 		 
227,535 		 
 
(12) DEBORAH RUDE (i)
(ii)		 149,662
  		60,750
  		1,850
  		21,075
  		1,689
  		235,026
  		 
 
(13) MARY SANDNESS (i)
(ii)		 144,760
  		49,950
  		2,066
  		23,994
  		22,200
  		242,970
  		 
 
(14) MARTIN SCANLON (i)
(ii)		 194,070
  		155,456
  		2,007
  		29,400
  		22,967
  		403,900
  		 
 
(15) THERESE BICKLER (i)
(ii)		 145,191
  		110,018
  		2,715
  		30,335
  		23,200
  		311,459
  		 
 
(16) LEN HYDE (i)
(ii)		 151,441
  		104,257
  		1,465
  		29,400
  		21,450
  		308,013
  		 
 
(17) JOHN HANCOCK (i)
(ii)		 173,452
  		30,150
  		4,220
  		21,955
  		21,450
  		251,227
  		 
 
(18) STEPHEN HANSEN (i)
(ii)		 145,365
  		40,938
  		3,654
  		22,397
  		1,689
  		214,043
  		 
 
(19) REBECCA BERNHARD (i)
(ii)		 132,797
  		24,750
  		4,237
  		19,696
  		23,507
  		204,987
  		 
 
(20) GERALDINE GJESDAHL (i)
(ii)		 116,889
  		43,210
  		986
  		19,163
  		300
  		180,548
  		 
 
(21) HUGH MCSHERRY (i)
(ii)		 134,949
  		26,354
  		1,433
  		9,933
  		21,200
  		193,869
  		 
 
(22) DAVID REID (i)
(ii)		 46,369
  		 
  		242,387
  		5,174
  		4,892
  		298,822
  		 
 
(23) DIANE MANNING (i)
(ii)		 117,705
  		 
  		158,860
  		14,644
  		14,105
  		305,314
  		 
 
(24) VIRGINIA KEENAN (i)
(ii)		 80,044
  		77,075
  		73,025
  		15,014
  		804
  		245,962
  		 
 
(25) DAVID PETERSON (i)
(ii)		 50,558
  		144,804
  		171
  		23,612
  		7,012
  		226,157
  		 
 
(26) JOSHUA MANDELMAN (i)
(ii)		 40,258
  		146,383
  		1,629
  		22,565
  		7,012
  		217,847
  		 
 
(27) JAMES MURRAY (i)
(ii)		  
42,710 		 
  		 
  		 
  		 
  		 
42,710 		 
 
(28) PAULA CRAW (i)
(ii)		 116,448
  		22,557
  		985
  		16,897
  		7,507
  		164,394
  		 
 
(29) CAREY DUBBS (i)
(ii)		  
  		19,973
  		115,654
  		1,798
  		 
  		137,425
  		 
 
(30) DAVID HAWN (i)
(ii)		  
278,491 		 
176,173 		 
1,673 		 
35,800 		 
21,200 		 
513,337 		 
 
(31) ROBERTA SWEENEY (i)
(ii)		  
143,967 		 
2,309 		 
10,034 		 
13,607 		 
5,124 		 
175,041 		 
 
(32) JK SLAGSVOLD-JACOBSON (i)
(ii)		 112,965
  		29,698
  		1,718
  		17,628
  		21,200
  		183,209
  		 
 
Schedule J (Form 990) 2011

Schedule J (Form 990) 2011
Page 3
Part III
Supplemental Information
Complete this part to provide the information, explanation, or descriptions required for Part I, lines 1a, 1b, 3, 4c, 5a, 5b, 6a, 6b, 7, and 8. Also complete this part for any additional information.
Identifier Return Reference Explanation
Pt I Line 1a   ECMC sponsors programs to help students and families plan and pay for college. We work with schools and loan servicers to lower student loan default rates, promote financial literacy and provide resources to support student loan borrowers to successfully repay their loans. --- Certain taxable benefits are grossed up to make the employee whole. This has been approved by the board of directors. ---
Pt I Line 4a   The following received severance payments in 2011: David Reid - $229,402 Diane Manning - $156,000 Carey Dubbs - $112,500 Virginia Keenan - $60,468 ---
Pt I Line 5a   ECMC Group's annual officer incentive plan requires achievement of stated primary financial goals, which includes revenues, before any payments to any officer is made. ---
Pt I Line 6a   ECMC Group's annual officer incentive plan requires achievement of stated key performance metrics, which include net earnings, before any payments to any officer is made.
Schedule J (Form 990) 2011

Additional Data


Software ID:  
Software Version:  
SCHEDULE O
(Form 990 or 990-EZ)

Department of the Treasury
Internal Revenue Service
Supplemental Information to Form 990 or 990-EZ

Complete to provide information for responses to specific questions on
Form 990 or to provide any additional information.
MediumBullet Attach to Form 990 or 990-EZ.
OMB No. 1545-0047
2011
Open to Public
Inspection
Name of the organization
EDUCATIONAL CREDIT MANAGEMENT CORPORATION
 
Employer identification number

41-1778617
Identifier Return Reference Explanation
Pt I, Line 1   Educational Credit Management Corporation (ECMC), a 501(c)(3)
    organization, is a national guaranty agency designated by the
    U.S. Secretary of Education under and pursuant to the provisions
    of the Higher Education Act of 1965, as amended. ECMC works
    with schools and loan servicers to lower student loan default
    rates, promote financial literacy and provide resources to support
    student loan borrowers to help them successfully repay their loans.
    ---
Pt III, Line 4a   Continued from Part III, Line 4a.
    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 help the borrower recover from default.
    Fortunately, Congress has given us tools to do so, such as
    the loan rehabilitation program where we are given significant
    latitude to 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 over
    $4 billion in student loan recoveries to the U.S. Treasury.
    ---
Pt III, Line 4b   Continued from Part III, Line 4b.
    financial literacy and money management education; education
    regarding the obligations associated with student loans;
    and education on how to avoid student loan default. As of
    December 31, 2011 the non-default guarantee portfolio consisted
    of $33.7 billion in original outstanding principal balance.
    ---
Pt VI, Line 6   Educational Credit Management Corporation (ECMC) has one member.
    The member is the Board of Directors of ECMC Group, Inc., a Delaware
    non-stock, non-profit corporation. There are no stockholders.
    ---
Pt VI, Line 7a   ECMC Group, Inc. has the right to elect and/or approve all the directors
    of the Educational Credit Management Corporation's Board of Directors.
    ---
Pt VI, Line 7b   ECMC Group, Inc. has the following rights with respect to
    Educational Credit Management Corporation:
    1. To authorize amendments to the certificates 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.
    ---
Pt VI, Line 11a   All members of the Board of Directors and Executive Management are provided
    a copy of Form 990 to review and provide comments prior to filing. All
    members of the Board of Directors and Executive Management are provided
    with a copy of the final version of Form 990 before it has been filed.
    ---
Pt VI, Line 12c   Officers, Directors and all employees are required to reaffirm on an annual
    basis their understanding of the company's Code of Ethics and Business
    Conduct. The affirmation specifically references that the individual
    will comply with the directives of the Code of Ethics and Business Conduct.
    Conflicts of Interest and disclosure of potential conflicts is included
    in the Code of Ethics and Business Conduct. Monitoring and enforcement
    of the policy is accomplished through the reaffirmation process.
    In cases where a potential conflict exists at the officer and key employee
    levels, the issue is disclosed to the CEO and Director of Corporate
    Compliance. For potential or real conflicts involving the CEO or a member
    of the Board of Directors, the disclosure is made to the Board Chairman.
    The board member or CEO will be required to excuse themselves from
    deliberation and voting on matters where they may have a conflict of
    interest.
    ---
Pt VI, Line 13   Whistleblower Policy - ECMC Group, Inc. has a Code of Ethics and Business
    Conduct policy that is affirmed annually by all ECMC Group, Inc. and
    affiliated companies' officers, directors and employees. While there
    is not a specific whistleblower policy, there is a provision
    incorporated into the Code of Ethics and Business Conduct policy
    that binds all employees. The provision states that there
    can by no repercussions for good faith reporting of potential illegal
    practices or violations of corporate policies. ECMC Group,
    Inc. and Educational Credit Management Corporation have
    established an anonymous whistleblower telephone hotline and
    website administered by an outside vendor.
    ---
Pt VI, Line 15   The following describes the ECMC and ECMC Group executive
    compensation methodology.
    The Governance & Compensation Committee of the ECMC Group Board
    of Directors is wholly comprised of independent, outside directors.
    In 2011, the Committee retained executive compensation experts
    from Grant Thornton, a global compensation consulting organization,
    through Arnold & Porter LLP to identify appropriate CEO and
    senior executive compensation packages. Arnold & Porter LLP provided
    a written opinion on the reasonableness of this compensation. The
    market analysis performed by Grant Thornton for Arnold & Porter LLP
    includes salary and incentive data from an appropriate peer group
    under IRS regulations and includes both nonprofit and for profit
    entities.
    ---
Pt VI, Line 17   States to file Form 990: New Mexico & Oregon.
    ---
Pt VI, Line 19   No documents are made available to the public.
    ---
Pt VII-A   Per the Form 990 Instructions, ECMC is required to provide the hours
    worked by ECMC Directors for ECMC and its related organizations.
    See details below:
    ---
    Robert Stein-related orgs=11 hrs/wk, ECMC=1 hr/wk, total=12 hrs/wk
    Gary Cook-related orgs=8 hrs/wk, ECMC=1 hr/wk, total=9 hrs/wk
    Roberta Cooper Ramo-related orgs=9 hrs/wk, ECMC=1 hr/wk, total=10 hrs/wk
    John DePodesta-related orgs=11 hrs/wk, ECMC=1 hr/wk, total=12 hrs/wk
    Edward Jennings-related orgs=7 hrs/wk, ECMC=1 hr/wk, total=8 hrs/wk
    I. King Jordan-related orgs=8 hrs/wk, ECMC=1 hr/wk, total=9 hrs/wk
    James McKeon-related orgs=8 hrs/wk, ECMC=1 hr/wk, total=9 hrs/wk
    Jack O'Connell-related orgs=7 hrs/wk, ECMC=1 hr/wk, total=8 hrs/wk
    Maurice Salter-related orgs=7 hrs/wk, ECMC=1 hr/wk, total=8 hrs/wk
    Richard Boyle-related orgs=76 hrs/wk, ECMC=6 hrs/wk, total=82 hrs/wk
    ---
    Per the Form 990 Instructions, ECMC is required to provide the
    hours worked by officers and key employees of ECMC for ECMC
    and its related organizatins. See details below:
    ---
    Gregory Van Guilder-related orgs=55 hrs/wk, ECMC=2 hrs/wk, total=57 hrs/wk
    Janice Hines-related orgs=0 hrs/wk, ECMC=46 hrs/wk, total=46 hrs/wk
    Edward Spear-related orgs=0 hrs/wk, ECMC=56 hrs/wk, total=56 hrs/wk
    Daniel Fisher-related orgs=32 hrs/wk, ECMC=18 hrs/wk, total=50 hrs/wk
    Heidi Johnson-related orgs=51 hrs/wk, ECMC=4 hrs/wk, total=55 hrs/wk
    Matthew Mikulski-related orgs=27 hrs/wk, ECMC=20 hrs/wk, total=47 hrs/wk
    Kathleen King-related orgs=2 hrs/wk, ECMC=50 hrs/wk, total=52 hrs/wk
    Fred Chambers-related orgs=3 hrs/wk, ECMC=36 hrs/wk, total=39 hrs/wk
    Michael Heffernan-related orgs=0 hrs/wk, ECMC=48 hrs/wk, total=48 hrs/wk
    Heather Renner-related orgs=42 hrs/wk, ECMC=0 hrs/wk, total=42 hrs/wk
    Deborah Rude-related orgs=0 hrs/wk, ECMC=48 hrs/wk, total=48 hrs/wk
    Mary Sandness-related orgs=0 hrs/wk, ECMC=44 hrs/wk, total=44 hrs/wk
    Martin Scanlon-related orgs=1 hrs/wk, ECMC=46 hrs/wk, total=47 hrs/wk
    Therese Bickler-related orgs=0 hrs/wk, ECMC=47 hrs/wk, total=47 hrs/wk
    Len Hyde-related orgs=0 hrs/wk, ECMC=45 hrs/wk, total=45 hrs/wk
    John Hancock-related orgs=0 hrs/wk, ECMC=41 hrs/wk, total=41 hrs/wk
    Stephen Hansen-related orgs=1 hrs/wk, ECMC=43 hrs/wk, total=44 hrs/wk
    Rebecca Bernhard-related orgs=35 hrs/wk, ECMC=12 hrs/wk, total=47 hrs/wk
    Geraldine Gjesdahl-related orgs=15 hrs/wk, ECMC=40 hrs/wk, total=55 hrs/wk
    Hugh McSherry-related orgs=21 hrs/wk, ECMC=30 hrs/wk, total=51 hrs/wk
    David Reid-related orgs=0 hrs/wk, ECMC=40 hrs/wk, total=40 hrs/wk
    Diane Manning-related orgs=9 hrs/wk, ECMC=28 hrs/wk, total=37 hrs/wk
    Virginia Keenan-related orgs=0 hrs/wk, ECMC=37 hrs/wk, total=37 hrs/wk
    David Peterson-related orgs=0 hrs/wk, ECMC=45 hrs/wk, total=45 hrs/wk
    Joshua Mandelman-related orgs=0 hrs/wk, ECMC=41 hrs/wk, total=41 hrs/wk
    James Murray-related orgs=0 hrs/wk, ECMC=0 hrs/wk, total=0 hrs/wk
    Paula Craw-related orgs=0 hrs/wk, ECMC=42 hrs/wk, total=42 hrs/wk
    Carey Dubbs-related orgs=0 hrs/wk, ECMC=40 hrs/wk, total=40 hrs/wk
    David Hawn-related orgs=39 hrs/wk, ECMC=18 hrs/wk, total=57 hrs/wk
    Roberta Sweeney-related orgs=40 hrs/wk, ECMC=0 hrs/wk, total=40 hrs/wk
    J.K. Slagsvold-Jacobson-related orgs=0 hrs/wk, ECMC=43 hrs/wk, total=43 hrs/wk
    Steven Wellvang-related orgs=43 hrs/wk, ECMC=0 hrs/wk, total=43 hrs/wk
    ---
    James Murray, a former Director, had a consulting agreement in 2011.
    ---
Pt XI   Effective October 31, 2010, the U.S. Secretary of Education
    terminated the guaranty agency agreement between the U.S. Department
    of Education and the California Student Aid Commission (CSAC) under
    which CSAC participated as a guaranty agency in the Federal Family
    Education Loan (FFEL) Program. The Secretary assigned ECMC as the
    successor guaranty agency to assume CSAC's Federal Fund assets and
    liabilities and the rights and obligations (including the
    continuing outstanding FFEL Program loan guarantees) of CSAC's
    guaranty agency activities. As a result of this assignment, ECMC
    received an additional transfer in 2011 of $4.9 million in net assets
    from CSAC.
    ---
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 51056K
Schedule O (Form 990 or 990-EZ) 2011

Additional Data


Software ID: 11000175
Software Version:  
SCHEDULE R
(Form 990)
Department of the Treasury
Internal Revenue Service
Related Organizations and Unrelated Partnerships
MediumBulletComplete if the organization answered "Yes" to Form 990, Part IV, line 33, 34, 35, 36, or 37.
MediumBulletAttach to Form 990. MediumBullet See separate instructions.

OMB No. 1545-0047
2011
Open to Public Inspection
Name of the organization
EDUCATIONAL CREDIT MANAGEMENT CORPORATION
 
Employer identification number

41-1778617
Part I
Identification of Disregarded Entities (Complete if the organization answered "Yes" on Form 990, Part IV, line 33.)
(a)
Name, address, and EIN of disregarded entity


(b)
Primary activity


 		(c)
Legal domicile (state
or foreign country)

 		(d)
Total income
(e)
End-of-year assets


 		(f)
Direct controlling
entity

















Part II
Identification of Related Tax-Exempt Organizations (Complete if the organization answered "Yes" on Form 990, Part IV, line 34 because it had one or more related tax-exempt organizations during the tax year.)
(a)
Name, address, and EIN of related organization


(b)
Primary activity


 		(c)
Legal domicile (state
or foreign country)

 		(d)
Exempt Code section
(e)
Public charity status
(if section 501(c)(3))

 		(f)
Direct controlling
entity

 		(g)
Section 512(b)(13) controlled organization
Yes No
(1) ECMC GROUP INC

1 IMATION PLACE BLDG 2

OAKDALE,MN551283422
41-1991995 		Education Finance DE 501(c)(3) Line 11a, I  
 
 
(2) ECMC FOUNDATION

1 IMATION PLACE BLDG 2

OAKDALE,MN551283422
41-1990628 		Promote Education DE 501(c)(3) Line 11b, II  
 
 










For Privacy Act and Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50135Y
Schedule R (Form 990) 2011
Schedule R (Form 990) 2011
Page 2
Part III
Identification of Related Organizations Taxable as a Partnership (Complete if the organization answered "Yes" on Form 990, Part IV, line 34 because it had one or more related organizations treated as a partnership during the tax year.)
(a)
Name, address, and EIN of
related organization



 		(b)
Primary activity




 		(c)
Legal
domicile
(state or foreign
country)


 		(d)
Direct controlling
entity



 		(e)
Predominant income(related, unrelated, excluded from tax under sections 512-514)

(f)
Share of total income




 		(g)
Share of end-of-year
assets



 		(h)
Disproprtionate allocations?




 		(i)
Code V—UBI
amount in box 20 of
Schedule K-1
(Form 1065)
 		(j)
General or
managing
partner?



 		(k)
Percentage
ownership
Yes No Yes No
(1) PREMIERE CREDIT OF NO AMERICA LLC

2002 WELLESLEY BLVD 300
INDIANAPOLIS,IN46219
35-2085743 		Accounts Receivable Mgmt IN NA
  		N/A                
(2) OAKDALE STUDENT LOAN FUNDING LLC

1 IMATION PLACE BLDG 2
OAKDALE,MN551283422
27-1914648 		Holding FFELP Loans DE NA
  		N/A                










Part IV
Identification of Related Organizations Taxable as a Corporation or Trust (Complete if the organization answered "Yes" on Form 990, Part IV, line 34 because it had one or more related organizations treated as a corporation or trust during the tax year.)
(a)
Name, address, and EIN of related organization



 		(b)
Primary activity



 		(c)
Legal domicile
(state or
foreign
country)
 		(d)
Direct controlling
entity


 		(e)
Type of entity
(C corp, S corp,
or trust)

 		(f)
Share of total income



 		(g)
Share of
end-of-year
assets

 		(h)
Percentage
ownership
(1) ECMC HOLDINGS CORPORATION
1 IMATION PLACE BLDG 2
OAKDALE,MN551283422
41-1991992 		Strategic Oversight DE NA
  		C      
(2) EDUCATIONAL CREDIT SERVICES COMPANY
1 IMATION PLACE BLDG 2
OAKDALE,MN551283422
41-1992001 		Private Loans DE NA
  		C      
(3) ECMC RECORDS & REC MANAGEMENT CORPORATION
1 IMATION PLACE BLDG 2
OAKDALE,MN551283422
41-1989959 		Document Management DE NA
  		C      
(4) ECMC MANAGEMENT SERVICES CORPORATION
1 IMATION PLACE BLDG 2
OAKDALE,MN551283422
41-1989960 		Management Services DE NA
  		C      
(5) ECMC TECHNOLOGY SERVICE CORPORATION
1 IMATION PLACE BLDG 2
OAKDALE,MN551283422
41-1989958 		Technology Services DE NA
  		C      
(6) ECMC SOLUTIONS CORPORATION
1 IMATION PLACE BLDG 2
OAKDALE,MN551283422
27-1854584 		Default Aversion DE NA
  		C      


Schedule R (Form 990) 2011
Schedule R (Form 990) 2011
Page 3
Part V
Transactions With Related Organizations (Complete if the organization answered "Yes" on Form 990, Part IV, line 34, 35, 35A, or 36.)
Note. Complete line 1 if any entity is listed in Parts II, III or IV.
Yes
No
1 During the tax year, did the orgranization engage in any of the following transactions with one or more related organizations listed in Parts II-IV?
a Receipt of (i) interest (ii) annuities (iii) royalties (iv) rent from a controlled entity . . . . . . . . . . . . . . . . . . . . . . .
1a
 
No
b Gift, grant, or capital contribution to related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1b
Yes
 
c Gift, grant, or capital contribution from related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1c
 
No
d Loans or loan guarantees to or for related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1d
 
No
e Loans or loan guarantees by related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1e
 
No
f Sale of assets to related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1f
 
No
g Purchase of assets from related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1g
 
No
h Exchange of assets with related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1h
 
No
i Lease of facilities, equipment, or other assets to related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1i
 
No
j Lease of facilities, equipment, or other assets from related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . .
1j
 
No
k Performance of services or membership or fundraising solicitations for related organization(s) . . . . . . . . . . . . . . . . . . . .
1k
 
No
l Performance of services or membership or fundraising solicitations by related organization(s) . . . . . . . . . . . . . . . . . . . .
1l
Yes
 
m Sharing of facilities, equipment, mailing lists, or other assets with related organization(s) . . . . . . . . . . . . . . . . . . . . .
1m
Yes
 
n Sharing of paid employees with related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1n
Yes
 
o Reimbursement paid to related organization(s) for expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1o
Yes
 
p Reimbursement paid by related organization(s) for expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1p
Yes
 
q Other transfer of cash or property to related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1q
 
No
r Other transfer of cash or property from related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1r
 
No
2
If the answer to any of the above is "Yes," see the instructions for information on who must complete this line, including covered relationships and transaction thresholds.
(a)
Name of other organization 		(b)
Transaction
type(a-r) 		(c)
Amount involved 		(d)
Method of determining amount involved
(1) ECMC GROUP INC

 b 119,053,498 Allocation
(2) ECMC GROUP INC

 m 26,993,239 Allocation
(3) ECMC GROUP INC

 n 26,781,174 Allocation
(4) ECMC GROUP INC

 o 12,211,757 Allocation
(5) ECMC HOLDINGS CORPORATION

 n 382,600 Allocation
(6) ECMC HOLDINGS CORPORATION

 p 72,181  
(7) ECMC RECORDS & RECEIVABLE MANAGEMENT CORPORATION

 n 99,877  
(8) ECMC SOLUTIONS CORPORATION

 n 951,587  
(9) ECMC SOLUTIONS CORPORATION

 p 95,081  
(10) PREMIERE CREDIT OF NORTH AMERICA LLC

 l 4,116,244  
Schedule R (Form 990) 2011
Schedule R (Form 990) 2011
Page 4
Part VI
Unrelated Organizations Taxable as a Partnership (Complete if the organization answered "Yes" on Form 990, Part IV, line 37.)
Provide the following information for each entity taxed as a partnership through which the organization conducted more than five percent of its activities (measured by total assets or gross revenue) that was not a related organization. See instructions regarding exclusion for certain investment partnerships.
(a)
Name, address, and EIN of entity 		(b)
Primary activity 		(c)
Legal domicile
(state or foreign
country) 		(d)
Predominant income(related, unrelated, excluded from tax under sections 512-514)

(e)
Are all
partners
section
501(c)(3)
organizations? 		(f)
Share of total income




 		(g)
Share of
end-of-year
assets 		(h)
Disproprtionate allocations? 		(i)
Code V—UBI
amount in box
20 of Schedule K-1
(Form 1065) 		(j)
General or
managing
partner? 		(k)
Percentage
ownership
Yes No Yes No Yes No






























Schedule R (Form 990) 2011
Schedule R (Form 990) 2011
Page 5
Part VII
Supplemental Information
Complete this part to provide additional information for responses to questions on Schedule R (see instructions).
Identifier Return Reference Explanation
Additional Data


Software ID: 11000175
Software Version: