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 private foundations)
MediumBullet Do not enter Social Security numbers on this form as it may be made public. By law, the IRS
generally cannot redact the information on the form.
MediumBullet Information about Form 990 and its instructions is at www.IRS.gov/form990.
OMB No. 1545-0047
2013
Open to Public Inspection
A For the 2013 calendar year, or tax year beginning 01-01-2013 , 2013, and ending 12-31-2013
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 province, country, and ZIP or foreign postal code
Oakdale, MN551283422
D Employer identification number

41-1778617
E Telephone number

G Gross receipts $ 455,413,491
F Name and address of principal officer:
DAVID HAWN
1 Imation Place
Oakdale,MN551283422
I
Tax-exempt status: (   ) LeftBullet (insert no.) or
J
Website:MediumBullet
WWW.ECMC.ORG
H(a)
Is this a group return for
subordinates?
H(b)
Are all subordinates
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 PROMOTES FINANCIAL LITERACY AND PROVIDES RESOURCES FOR STUDENT LOAN BORROWERS TO SUCCESSFULLY REPAY THEIR FEDERALLY-INSURED STUDENT LOANS. 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. IN 2013, ECMC ADDED THE ECMC SOLUTIONS PROGRAM, PROVIDING DEFAULT PREVENTION AND FINANCIAL LITERACY TO STUDENT LOAN BORROWERS TO HELP THEM UNDERSTAND THEIR REPAYMENT OPTIONS BEFORE BECOMING DELINQUENT OR DEFAULTING ON THEIR FEDERALLY-INSURED STUDENT LOANS. THE PROGRAM INCLUDES RESOURCES FOR POST-SECONDARY INSTITUTIONS TO ASSIST THEM IN MANAGING THEIR COHORT DEFAULT RATE. SERVICES ARE OFFERED TO POST-SECONDARY INSTITUTIONS UNDER A FEE STRUCTURE.
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 2013 (Part V, line 2a) ...... 5 840
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 0
Revenues Prior Year Current Year
8 Contributions and grants (Part VIII, line 1h) ......... 0 0
9 Program service revenue (Part VIII, line 2g) ......... 426,103,191 455,327,019
10 Investment income (Part VIII, column (A), lines 3, 4, and 7d ) .... 499,222 86,472
11 Other revenue (Part VIII, column (A), lines 5, 6d, 8c, 9c, 10c, and 11e) 0 0
12 Total revenue—add lines 8 through 11 (must equal Part VIII, column (A), line 12)................... 426,602,413 455,413,491
Expenses; 13 Grants and similar amounts paid (Part IX, column (A), lines 1–3 )... 422,709,304 361,663,278
14 Benefits paid to or for members (Part IX, column (A), line 4)..... 0 0
15 Salaries, other compensation, employee benefits (Part IX, column (A), lines 5–10) 53,899,541 56,854,715
16a Professional fundraising fees (Part IX, column (A), line 11e)..... 0 0
b Total fundraising expenses (Part IX, column (D), line 25) MediumBullet0    
17 Other expenses (Part IX, column (A), lines 11a–11d, 11f–24e).... 98,993,900 104,596,749
18 Total expenses. Add lines 13–17 (must equal Part IX, column (A), line 25) 575,602,745 523,114,742
19 Revenue less expenses. Subtract line 18 from line 12....... -149,000,332 -67,701,251
Net Assets or Fund Balances; Beginning of Current Year End of Year
20 Total assets (Part X, line 16)............. 682,872,235 583,597,158
21 Total liabilities (Part X, line 26)............. 601,045,490 559,984,900
22 Net assets or fund balances. Subtract line 21 from line 20..... 81,826,745 23,612,258
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 MediumBullet

Firm's EIN MediumBullet
Firm's address MediumBullet



Phone no.
May the IRS discuss this return with the preparer shown above? (see instructions) ............
For Paperwork Reduction Act Notice, see the separate instructions.
Cat. No. 11282Y
Form 990 (2013)
Form 990 (2013)
Page 2
Part III
Statement of Program Service Accomplishments
Check if Schedule O contains a response or note to any line in this Part III ..............
1
Briefly describe the organization’s mission: ECMC SPONSORS PROGRAMS TO HELP STUDENTS PLAN AND PAY FOR COLLEGE, PROMOTE FINANCIAL LITERACY AND PROVIDE RESOURCES TO SUPPORT STUDENT LOAN BORROWERS TO REPAY THEIR FEDERALLY-INSURED STUDENT LOANS.
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 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 $ 106,484,630 including grants of $ 0 ) (Revenue $ 417,231,789 )
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. ECMC'S 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 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 $7.5 BILLION IN STUDENT LOAN RECOVERIES TO THE U.S. TREASURY.
4b (Code:   ) (Expenses $ 16,422,810 including grants of $ 684,800 ) (Revenue $ 24,075,237 )
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 AGENCY INCLUDE BUT ARE NOT LIMITED TO: ASSISTING BORROWERS AND PARENTS IN PREPARING FOR COLLEGE; 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, 2013 THE NON-DEFAULT GUARANTEE PORTFOLIO CONSISTED OF $27.5 BILLION IN ORIGINAL OUTSTANDING PRINCIPAL BALANCE.
4c (Code:   ) (Expenses $ 5,926,271 including grants of $ 0 ) (Revenue $ 7,043,919 )
ECMC SOLUTIONS PROGRAM. THE ECMC SOLUTIONS PROGRAM FOCUSES ON PROVIDING DEFAULT PREVENTION AND FINANCIAL LITERACY TO STUDENT LOAN BORROWERS WHILE THEY ARE STILL IN SCHOOL, IN THEIR GRACE PERIOD, OR IN REPAYMENT TO HELP THEM UNDERSTAND THEIR REPAYMENT OPTIONS BEFORE BECOMING DELINQUENT OR DEFAULTING ON THEIR FEDERALLY-INSURED STUDENT LOANS. THE PROGRAM INCLUDES RESOURCES FOR POST-SECONDARY INSTITUTIONS TO ASSIST THEM IN MANAGING THEIR COHORT DEFAULT RATE. SERVICES ARE OFFERED TO POST-SECONDARY INSTITUTIONS UNDER A FEE STRUCTURE.
(Code:   ) (Expenses $ 360,978,478 including grants of $ 360,978,478 ) (Revenue $ 0 )
CONTRIBUTIONS MADE TO ECMC GROUP, INC.: ECMC GROUP, INC. IS THE PARENT OF AND A SUPPORTING ORGANIZATION TO ECMC. ECMC GROUP, INC. RETAINS THE FOLLOWING AUTHORITY OVER ECMC: 1. TO AUTHORIZE AMENDMENTS TO THE ARTICLES 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. ECMC GROUP, INC. AUTHORIZES THE DISTRIBUTION OF FUNDS FROM ECMC TO ECMC GROUP, INC. SECTION 422B OF THE HIGHER EDUCATION ACT OF 1965, AS AMENDED, ALLOWS ECMC TO INVEST FUNDS AT ITS DISCRETION IN ACCORDANCE WITH PRUDENT INVESTOR STANDARDS AND TO USE FUNDS FOR HIGHER EDUCATION RELATED ACTIVITIES. ECMC DISTRIBUTES FUNDS TO ECMC GROUP, INC. TO INVEST AND TO DISTRIBUTE TO ECMC FOUNDATION TO USE FOR HIGHER EDUCATION RELATED ACTIVITIES.
(Code:   ) (Expenses $ 6,976,074 including grants of $ 0 ) (Revenue $ 6,976,074 )
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 U.S. DEPARTMENT OF EDUCATION AND OTHER GUARANTY AGENCIES FOR PROCESSING BY ECMC. THE BANKRUPTCY STUDENT LOAN PORTFOLIO AT DECEMBER 31, 2013 CONSISTED OF $2.9 BILLION IN OUTSTANDING PRINCIPAL, INTEREST AND FEES.
4d Other program services (Describe in Schedule O.)
(Expenses $ 367,954,552 including grants of $ 360,978,478 ) (Revenue $ 6,976,074 )
4e Total program service expensesMediumBullet496,788,263
Form 990 (2013)
Form 990 (2013)
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 (see instructions)? ...
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, or have a section 501(h) election in effect during the tax year? 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
 
 
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 for escrow or custodial account liability; 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, line 10?
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 IXClick 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 XClick 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.........................
11f
 
No
12a
Did the organization obtain separate, independent audited financial statements for the tax year?
If "Yes," complete Schedule D, Parts XI and XII 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 and XII 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, Parts I and IV.........
14b
 
No
15
Did the organization report on Part IX, column (A), line 3, more than $5,000 of grants or other assistance to or for any foreign organization? If “Yes,” complete Schedule F, Parts II and IV
15
 
No
16
Did the organization report on Part IX, column (A), line 3, more than $5,000 of aggregate grants or other assistance to or for foreign individuals? If “Yes,” complete Schedule F, Parts III and IV...
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 (see instructions)....
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 hospital facilities? If "Yes," complete Schedule H....
20a
 
No
b
If "Yes" to line 20a, did the organization attach a copy of its audited financial statements to this return?
20b
 
 
Form 990 (2013)
Form 990 (2013)
Page 4
Part IV
Checklist of Required Schedules (continued)
21
Did the organization report more than $5,000 of grants or other assistance to any domestic organization or government 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 or 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, line 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 lines 24b through 24d and complete Schedule K. If “No,” go to line 25a................
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
Did the organization report any amount on Part X, line 5, 6, or 22 for receivables from or payables to any current or former officers, directors, trustees, key employees, highest compensated employees, or disqualified persons? If so, 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 direct or indirect 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...................... Click to see attachment
32
Yes
 
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, Part II, III, or IV, and Part 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
 
No
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 11b and 19? Note. All Form 990 filers are required to complete Schedule O. ............
38
Yes
 
Form 990 (2013)
Form 990 (2013)
Page 5
Part V
Statements Regarding Other IRS Filings and Tax Compliance
Check if Schedule O contains a response or note to any line in this Part V ..............
Yes
No
1a
Enter the number reported in Box 3 of Form 1096 Enter -0- if not applicable ..
1a
98,630
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
 
 
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
840
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” to line 3b, 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, securities account, or other financial 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 as charitable contributions?...
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. See the instructions for additional information the organization must report on Schedule O.
13a
 
 
b
Enter the 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 amount of reserves on hand ............
13c
 
14a
Did the organization receive any payments for indoor tanning services during the tax year?.....
14a
 
No
b
If "Yes," has it filed a Form 720 to report these payments? If "No," provide an explanation in Schedule O..
14b
 
 
Form 990 (2013)
Form 990 (2013)
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 or note to any line 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 .....................
1a
10
If there are material differences in voting rights among members of the governing body, or if the governing body delegated broad authority to an executive committee or similar committee, explain in Schedule O.
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 this 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
CA , NM
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:
MediumBulletGregory Van Guilder1 Imation Place Bldg 2OakdaleMN551283422 (651) 221-0566
Form 990 (2013)
Form 990 (2013)
Page 7
Part VII
Compensation of Officers, Directors,Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors
Check if Schedule O contains a response or note to any line 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. 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 organization compensated any current officer, director, or trustee.
(A)
Name and Title 		(B)
Average hours per week (list any hours for related organizations below dotted line) 		(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; OfficerInd; Key Employee; Highest compensated employee; FormerOfcrDirectorTrusteeInd;
(1) GARY COOK........................................................................
DIRECTOR
 1.00
.......................7.00 		X           0 74,559 0
(2) I KING JORDAN........................................................................
DIRECTOR
 1.00
.......................6.00 		X           0 66,000 0
(3) JACK O'CONNELL........................................................................
DIRECTOR
 1.00
.......................6.00 		X           0 62,000 0
(4) JAMES MCKEON........................................................................
DIRECTOR
 1.00
.......................10.00 		X           0 98,000 0
(5) JOHN DEPODESTA........................................................................
DIRECTOR
 1.00
.......................14.00 		X           0 105,559 0
(6) MAURICE SALTER........................................................................
DIRECTOR
 1.00
.......................10.00 		X           0 83,500 0
(7) PETER TAYLOR........................................................................
DIRECTOR
 1.00
.......................6.00 		X           0 59,000 0
(8) RICHARD BOYLE........................................................................
DIRECTOR/ECMC Group CEO
 1.00
.......................80.00 		X           0 908,287 54,629
(9) ROBERT STEIN........................................................................
BOARD CHAIR
 1.00
.......................13.00 		X           0 106,500 0
(10) ROBERTA COOPER RAMO........................................................................
DIRECTOR
 1.00
.......................9.00 		X           0 81,000 0
(11) DANIEL FISHER........................................................................
SEC/GENERAL COUNSEL
 1.00
.......................49.00 		    X       0 469,984 76,850
(12) DAVID HAWN........................................................................
COO
 1.00
.......................56.00 		    X       0 634,343 81,880
(13) DEBORAH RUDE........................................................................
VICE PRESIDENT
 43.00
.......................1.00 		    X       215,111 0 28,646
(14) EDWARD SPEAR........................................................................
CHIEF INFORMATION OFFICER
 55.00
.......................0.00 		    X       0 432,417 60,722
(15) GERALDINE GJESDAHL........................................................................
VICE PRESIDENT
 7.00
.......................44.00 		    X       0 212,575 26,020
(16) GREGORY VAN GUILDER........................................................................
CHIEF FINANCIAL OFFICER
 0.00
.......................52.00 		    X       0 658,773 83,299
(17) HEATHER RENNER........................................................................
EXEC VICE PRESIDENT
 0.00
.......................42.00 		    X       0 291,363 51,976
Form 990 (2013)
Form 990 (2013)
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 (list any hours for related organizations below dotted line) 		(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; OfficerInd; Key Employee; Highest compensated employee; FormerOfcrDirectorTrusteeInd;
(18) HEIDI JOHNSON........................................................................
EXEC VICE PRESIDENT
 34.00
.......................15.00 		    X       419,064 0 75,219
(19) HUGH MCSHERRY........................................................................
VICE PRESIDENT
 45.00
.......................6.00 		    X       0 214,667 52,097
(20) JANEEN LAGRACE........................................................................
VICE PRESIDENT
 42.00
.......................0.00 		    X       183,198 0 53,820
(21) JANICE HINES........................................................................
PRESIDENT/CEO
 43.00
.......................1.00 		    X       437,991 0 64,899
(22) KATHLEEN KING........................................................................
CONTROLLER
 0.00
.......................49.00 		    X       0 293,777 50,904
(23) LEN HYDE........................................................................
SR VICE PRESIDENT
 52.00
.......................0.00 		    X       292,362 0 62,604
(24) MARTIN SCANLON........................................................................
SR VICE PRESIDENT
 44.00
.......................0.00 		    X       334,062 0 68,578
(25) MATTHEW MIKULSKI........................................................................
SR VICE PRESIDENT
 5.00
.......................45.00 		    X       0 254,562 59,024
(26) PAULA CRAW........................................................................
VICE PRESIDENT
 44.00
.......................0.00 		    X       163,808 0 26,465
(27) REBECCA BERNHARD........................................................................
SR VICE PRESIDENT
 27.00
.......................20.00 		    X       245,860 0 56,018
(28) RENEE JENNRICH........................................................................
VICE PRESIDENT
 43.00
.......................1.00 		    X       195,598 0 42,334
(29) STEPHEN HANSEN........................................................................
SR VICE PRESIDENT
 44.00
.......................1.00 		    X       239,090 0 30,352
(30) THERESE BICKLER........................................................................
SR VICE PRESIDENT
 44.00
.......................6.00 		    X       241,670 0 57,502
(31) ARTHUR GONZALES........................................................................
DIRECTOR, COLLECTIONS
 45.00
.......................0.00 		        X   152,750 0 39,945
(32) DAVID PETERSON........................................................................
ACCOUNT SPECIALIST
 41.00
.......................0.00 		        X   214,202 0 35,596
(33) RICHARD HARDING........................................................................
DIRECTOR, IT
 44.00
.......................1.00 		        X   165,739 0 44,980
(34) ROBERT HEDRICK........................................................................
DIRECTOR, IT
 41.00
.......................1.00 		        X   144,195 0 53,155
(35) TIFFANY THOMPSON........................................................................
DIRECTOR, FINANCE
 1.00
.......................47.00 		        X   215,550 0 31,436
(36) FRED CHAMBERS........................................................................
FORMER VICE PRESIDENT
 42.00
.......................0.00 		          X 0 149,983 22,045
(37) JAMES MURRAY........................................................................
FORMER DIRECTOR
 0.00
.......................0.00 		          X 0 41,266 0
(38) JK SLAGSVOLD-JACOBSON........................................................................
FORMER DIRECTOR, DEFAULT PREVENTION/CLAIMS
 50.00
.......................0.00 		          X 146,297 0 44,046
(39) MICHAEL HEFFERNAN........................................................................
FORMER VICE PRESIDENT
 40.00
.......................0.00 		          X 217,717 0 7,642
(40) STEVEN WELLVANG........................................................................
FORMER SEC/GENERAL COUNSEL
 0.00
.......................38.00 		          X 0 547,655 18,591
1b Sub-Total................MediumBullet
c Total from continuation sheets to Part VII, Section A....MediumBullet
d Total (add lines 1b and 1c)............MediumBullet 4,224,264 5,845,770 1,461,274
2
Total number of individuals (including but not limited to those listed above) who received more than $100,000 of reportable compensation from the organizationMediumBullet206
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 SERVICES6330 GULFTON STHOUSTONTX77081 COLLECTION AGENCY 11,826,802
DIVERSIFIED COLLECTIONS333 NORTH CANYON PARKWAT STE 100LIVERMORECA94551 COLLECTION AGENCY 9,063,321
ALLIED INTERSTATEPO BOX 931203COLUMBUSOH44193 COLLECTION AGENCY 2,860,411
NCO FINANCIAL SYSTEMS24887 NETWORK PLACECHICAGOIL60673 COLLECTION AGENCY 2,709,357
PROGRESSIVE FINANCIAL SERVICES1919 WEST FAIRMONT DRIVE BLDG 8TEMPEAZ85262 COLLECTION AGENCY 2,556,956
2
Total number of independent contractors (including but not limited to those listed above) who received more than $100,000 of compensation from the organization MediumBullet38
Form 990 (2013)
Form 990 (2013)
Page 9
Part VIII
Statement of Revenue
Check if Schedule O contains a response or note to any line in this Part VIII .............
(A)
Total revenue 		(B)
Related or
exempt
function
revenue 		(C)
Unrelated
business
revenue 		(D)
Revenue
excluded from
tax under sections
512-514
Contributions, Gifts, GrantAmt and OtherAmt Similar Amounts 1a Federated campaigns..1a  
b Membership dues....1b  
c Fundraising events....1c  
d Related organizations...1d  
e Government grants (contributions)1e  
f All other contributions, gifts, grants, and
similar amounts not included above1f 		 
g Noncash contributions included in lines
1a-1f:$ 		 
h Total. Add lines 1a-1f.......MediumBullet 0
Program Service RevenueAmt Business Code
2a COLLECTION REVENUE 900099 402,348,315 402,348,315    
b DEFAULT AVERSION 900099 27,495,473 27,495,473    
c ACCOUNT MAINTENANCE 900099 16,947,798 16,947,798    
d BANKRUPTCY SERVICING 900099 6,976,074 6,976,074    
e STANDBY CAPACITY 900099 1,305,500 1,305,500    
f All other program service revenue . 253,859 253,859 0 0
g Total. Add lines 2a–2f........MediumBullet 455,327,019
OtherAmt RevenueAmt 3 Investment income (including dividends, interest, and other similar amounts).......MediumBullet 86,472     86,472
4 Income from investment of tax-exempt bond proceeds..MediumBullet 0      
5 Royalties...........MediumBullet 0      
(i) Real (ii) Personal
6a Gross rents    
b Less: rental expenses    
c Rental income or (loss) 0 0
d Net rental income or (loss).......MediumBullet 0      
(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) 0 0
d Net gain or (loss)..........MediumBullet 0      
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 0    
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 0      
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 0      
Miscellaneous Revenue Business Code
11a     0      
b     0      
c     0      
d All other revenue .... 0 0 0 0
e Total. Add lines 11a–11d ...... MediumBullet 0
12 Total revenue. See Instructions......MediumBullet 455,413,491 455,327,019 0 86,472
Form 990 (2013)
Form 990 (2013)
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).Check if Schedule O contains a response or note to any line 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 21 361,613,228 361,613,228
2 Grants and other assistance to individuals in the United States. See Part IV, line 22 50,050 50,050
3 Grants and other assistance to governments, organizations, and individuals outside the United States. See Part IV, lines 15 and 16 0  
4 Benefits paid to or for members 0  
5 Compensation of current officers, directors, trustees, and key employees .... 4,313,422 2,947,122 1,366,300  
6 Compensation not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B) .... 0      
7 Other salaries and wages 39,496,265 32,217,357 7,278,908  
8 Pension plan accruals and contributions (include section 401(k) and 403(b) employer contributions) .... 3,757,149 3,008,860 748,289  
9 Other employee benefits ....... 6,422,534 5,143,396 1,279,138  
10 Payroll taxes ........... 2,865,345 2,294,671 570,674  
11 Fees for services (non-employees):        
a Management ...... 0      
b Legal ......... 1,998,007 1,938,036 59,971  
c Accounting ........... 286,054 283,746 2,308  
d Lobbying ........... 0      
e Professional fundraising services. See Part IV, line 17 0  
f Investment management fees ...... 0      
g Other (If line 11g amount exceeds 10% of line 25, column (A) amount, list line 11g expenses on Schedule O) ........ 12,008,901 8,482,112 3,526,789 0
12 Advertising and promotion .... 7,533 7,533 0  
13 Office expenses ....... 7,499,748 4,876,037 2,623,711  
14 Information technology ...... 5,407,141 1,931,266 3,475,875  
15 Royalties .. 0      
16 Occupancy ........... 3,834,914 2,954,252 880,662  
17 Travel ............ 913,196 665,554 247,642  
18 Payments of travel or entertainment expenses for any federal, state, or local public officials ...... 0      
19 Conferences, conventions, and meetings .... 354,525 84,274 270,251  
20 Interest ........... 0 0 0  
21 Payments to affiliates ....... 0      
22 Depreciation, depletion, and amortization ..... 9,892,571 6,031,962 3,860,609  
23 Insurance .............. 480,959 345,828 135,131  
24 Other expenses. Itemize expenses not covered above (List miscellaneous expenses in line 24e. If line 24e amount exceeds 10% of line 25, column (A) amount, list line 24e expenses on Schedule O.)
a DEFAULT AVERSION FEES 16,421,831 16,421,831 0  
b COMMISSION EXPENSE 45,437,777 45,437,777 0  
c MISCELLANEOUS EXPENSE 53,592 53,371 221  
d
e All other expenses 0 0 0 0
25 Total functional expenses. Add lines 1 through 24e 523,114,742 496,788,263 26,326,479 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). 0      
Form 990 (2013)
Form 990 (2013)
Page 11
Part X Balance Sheet Check if Schedule O contains a response or note to any line in this Part X ..............
(A)
Beginning of year 		(B)
End of year
Assets 1 Cash–non-interest-bearing ............. 9,884,074 1 7,828,317
2 Savings and temporary cash investments ......... 81,080,569 2 35,338,433
3 Pledges and grants receivable, net ...........   3  
4 Accounts receivable, net ............. 18,385,993 4 31,523,781
5 Loans and other receivables from current and former officers, directors, trustees, key employees, and highest compensated employees. Complete Part II of
Schedule L ..................
0 5 0
6 Loans and other receivables from other disqualified persons (as defined under section 4958(f)(1)), persons described in section 4958(c)(3)(B), and contributing employers and sponsoring organizations of section 501(c)(9) voluntary employees' beneficiary organizations (see instructions) Complete Part II of Schedule L
0 6 0
7 Notes and loans receivable, net ............. 4,771,359 7 3,845,647
8 Inventories for sale or use ..............   8  
9 Prepaid expenses and deferred charges .......... 1,856,719 9 2,245,826
10a Land, buildings, and equipment: cost or other basis. Complete Part VI of Schedule D 10a 73,091,719
b Less: accumulated depreciation ..... 10b 51,370,999 25,699,815 10c 21,720,720
11 Investments—publicly traded securities ..........   11  
12 Investments—other securities. See Part IV, line 11 ..... 0 12 0
13 Investments—program-related. See Part IV, line 11 ..... 0 13 0
14 Intangible assets ............... 302,489 14 181,493
15 Other assets. See Part IV, line 11 ........... 540,891,217 15 480,912,941
16 Total assets. Add lines 1 through 15 (must equal line 34)...... 682,872,235 16 583,597,158
Liabilities 17 Accounts payable and accrued expenses ......... 80,127,822 17 77,500,384
18 Grants payable .................   18  
19 Deferred revenue ................ 0 19 392,496
20 Tax-exempt bond liabilities .............   20  
21 Escrow or custodial account liability. Complete Part IV of Schedule D..   21  
22 Loans and other payables to current and former officers, directors, trustees, key employees, highest compensated employees, and disqualified
persons. Complete Part II of Schedule L.......... 0 22 0
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.................... 520,917,668 25 482,092,020
26 Total liabilities. Add lines 17 through 25......... 601,045,490 26 559,984,900
Net Assets or Fund Balance Organizations that follow SFAS 117 (ASC 958), check here MediumBullet and complete lines 27 through 29, and lines 33 and 34.
27 Unrestricted net assets .............. 81,826,745 27 23,612,258
28 Temporarily restricted net assets ...........   28  
29 Permanently restricted net assets ...........   29  
Organizations that do not follow SFAS 117 (ASC 958), 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 ........... 81,826,745 33 23,612,258
34 Total liabilities and net assets/fund balances ........ 682,872,235 34 583,597,158
Form 990 (2013)
Form 990 (2013)
Page 12
Part XI
Reconcilliation of Net Assets
Check if Schedule O contains a response or note to any line in this Part XI ..............
1
Total revenue (must equal Part VIII, column (A), line 12) ............
1
455,413,491
2
Total expenses (must equal Part IX, column (A), line 25) ............
2
523,114,742
3
Revenue less expenses. Subtract line 2 from line 1 ..............
3
-67,701,251
4
Net assets or fund balances at beginning of year (must equal Part X, line 33, column (A)) ..
4
81,826,745
5
Net unrealized gains (losses) on investments ...............
5
 
6
Donated services and use of facilities .................
6
 
7
Investment expenses .....................
7
 
8
Prior period adjustments .....................
8
 
9
Other changes in net assets or fund balances (explain in Schedule O) ........
9
9,486,764
10
Net assets or fund balances at end of year. Combine lines 3 through 9 (must equal Part X, line 33, column (B))
10
23,612,258
Part XII
Financial Statements and Reporting
Check if Schedule O contains a response or note to any line 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
If ‘Yes,’ check a box below to indicate whether the financial statements for the year were compiled or reviewed on a separate basis, consolidated basis, or both:
b
Were the organization’s financial statements audited by an independent accountant?
2b
Yes
 
If ‘Yes,’ check a box below to indicate whether the financial statements for the year were audited on a separate basis, consolidated basis, or both:
c
If "Yes," to line 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?
2c
Yes
 
If the organization changed either its oversight process or selection process during the tax year, explain in Schedule O.
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 (2013)
Form 990, Special Condition Description:
Special Condition Description
Additional Data


Software ID: 13000248
Software Version: 2013v3.1
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.
right arrow Information about Schedule A (Form 990 or 990-EZ) and its instructions is at www.irs.gov/form990.
OMB No. 1545-0047
2013
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 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
Provide the following information about the supported organization(s).
(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 monetary support
Yes No Yes No Yes No
Total  

For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990EZ.
Cat. No. 11285F
Schedule A (Form 990 or 990-EZ) 2013
Schedule A (Form 990 or 990-EZ) 2013
Page 2
Part II
Support Schedule for Organizations Described in Sections 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) right arrow (a) 2009 (b) 2010 (c) 2011 (d) 2012 (e) 2013 (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.  
Section B. Total Support
Calendar year (or fiscal year beginning in) right arrow (a) 2009 (b) 2010 (c) 2011 (d) 2012 (e) 2013 (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...            
9 Net income from unrelated business activities, whether or not the business is regularly carried on..            
10 Other income. Do not include gain or loss from the sale of capital assets (Explain in Part IV.)..            
11 Total support (Add lines 7 through 10).  
12
12
 
13
First five years. If the Form 990 is for the organization's first, second, third, fourth, or fifth tax year as a 501(c)(3) organization, check this box and stop here.................................................right arrow
Section C. Computation of Public Support Percentage
14
14
 
15
15
 
16a
b
17a
b
18
Private foundation. If the organization did not check a box on line 13, 16a, 16b, 17a, or 17b, check this box and see
instructions ..................................................... right arrow
Schedule A (Form 990 or 990-EZ) 2013
Schedule A (Form 990 or 990-EZ) 2013
Page 3
Part III
Support Schedule for Organizations Described in Section 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) right arrow (a) 2009 (b) 2010 (c) 2011 (d) 2012 (e) 2013 (f) Total
1 Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grants.") .           0
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...... 125,751,877 168,227,121 382,905,105 426,103,191 455,327,019 1,558,314,313
3 Gross receipts from activities that are not an unrelated trade or business under section 513..           0
4 Tax revenues levied for the organization's benefit and either paid to or expended on its behalf...           0
5 The value of services or facilities furnished by a governmental unit to the organization without charge..           0
6 Total. Add lines 1 through 5. 125,751,877 168,227,121 382,905,105 426,103,191 455,327,019 1,558,314,313
7a Amounts included on lines 1, 2, and 3 received from disqualified persons... 0 0 0 0 0 0
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. 47,322 0 0 0 0 47,322
c Add lines 7a and 7b.. 47,322 0 0 0 0 47,322
8 Public support (Subtract line 7c from line 6.) 1,558,266,991
Section B. Total Support
Calendar year (or fiscal year beginning in) right arrow (a) 2009 (b) 2010 (c) 2011 (d) 2012 (e) 2013 (f) Total
9 Amounts from line 6... 125,751,877 168,227,121 382,905,105 426,103,191 455,327,019 1,558,314,313
10a Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources.. 65,874 42,696 235,378 499,222 86,472 929,642
b Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975.           0
c Add lines 10a and 10b. 65,874 42,696 235,378 499,222 86,472 929,642
11 Net income from unrelated business activities not included in line 10b, whether or not the business is regularly carried on.           0
12 Other income. Do not include gain or loss from the sale of capital assets (Explain in Part IV.) .. 0 0 0 0 12,978,533 12,978,533
13 Total support. (Add lines 9, 10c, 11, and 12.).. 125,817,751 168,269,817 383,140,483 426,602,413 468,392,024 1,572,222,488
14
Section C. Computation of Public Support Percentage
15
15
99.110 %
16
16
99.820 %
Section D. Computation of Investment Income Percentage
17
17
0.060 %
18
18
0.180 %
19a
b
20
Schedule A (Form 990 or 990-EZ) 2013
Schedule A (Form 990 or 990-EZ) 2013
Page 4
Part IV
Supplemental Information. Provide the explanations required by Part II, line 10; Part II, line 17a or 17b; and Part III, line 12. Also complete this part for any additional information. (See instructions).
Facts And Circumstances Test
 
Explanation
 
 
 
 
Schedule A (Form 990 or 990-EZ) 2013

Additional Data


Software ID: 13000248
Software Version: 2013v3.1
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. SchDMd Bullet Information about Schedule D (Form 990) and its instructions is at www.irs.gov/form990.
OMB No. 1545-0047
2013
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 section 170(h)(4)(B)(ii)? .......................................
9
In Part XIII, 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 XIII, 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 Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 52283D
Schedule D (Form 990) 2013

Schedule D (Form 990) 2013
Page 2
Part III
Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets (continued)
3
Using the organization’s acquisition, 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 XIII.
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 XIII 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 XIII. Check here if the explanation has been provided in Part XIII ........
Part V
Endowment Funds. Complete if the organization answered "Yes" to Form 990, Part IV, line 10.
(a)Current year (b)Prior year b (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 current year end balance (line 1g, column (a)) 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 XIII the intended uses of the organization's endowment funds.
Part VI
Land, Buildings, and Equipment. Complete if the organization answered 'Yes' to Form 990, Part IV, line 11a. 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 .................     0
b Buildings ................       0
c Leasehold improvements ............   10,736,236 4,895,909 5,840,327
d Equipment ................   12,738,631 11,132,133 1,606,498
e Other .................   49,616,852 35,342,957 14,273,895
Total. Add lines 1a through 1e. (Column (d) must equal Form 990, Part X, column (B), line 10(c).).......SchDMdBullet 21,720,720
Schedule D (Form 990) 2013

Schedule D (Form 990) 2013
Page 3
Part VII
Investments—Other Securities. Complete if the organization answered 'Yes' to Form 990, Part IV, line 11b. 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. Complete if the organization answered 'Yes' to Form 990, Part IV, line 11c. See Form 990, Part X, line 13.
(a) Description of investment (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. Complete if the organization answered 'Yes' to Form 990, Part IV, line 11d. See Form 990, Part X, line 15.
(a) Description (b) Book value
(1) CUSTODIAL ASSETS HELD FOR GUARANTOR FEDERAL RESERVE 427,437,940
(2) CUSTODIAL ASSETS HELD FOR FEDERAL SERVICES BUREAU 47,897,209
(3) DUE FROM FEDERAL SERVICES BUREAU 3,760,981
(4) DUE FROM GUARANTOR FEDERAL RESERVE 38,030
(5) DUE FROM ECMC GROUP, INC. 1,372,852
(6) DUE FROM ECMC HOLDINGS CORPORATION 397,591
(7) DUE FROM ECMC RECORDS & RECEIVABLE MGMT CORPORATION 3,854
(8) DEPOSITS 4,484

Total. (Column (b) must equal Form 990, Part X, col.(B) line 15.)...........Small Bullet 480,912,941
Part X
Other Liabilities. Complete if the organization answered 'Yes' to Form 990, Part IV, line 11e or 11f. See Form 990, Part X, line 25.
1.(a) Description of liability (b) Book value
Federal income taxes 0
OBLIGATIONS TO GUARANTOR FEDERAL RESERVE 427,437,940
OBLIGATIONS TO FEDERAL SERVICES BUREAU 47,897,209
DUE TO ECMC GROUP, INC. 6,666,394
DUE TO ECMC FOUNDATION 90,477





Total. (Column (b) must equal Form 990, Part X, col.(B) line 25.)Small Bullet 482,092,020
2. Liability for uncertain tax positions In Part XIII, 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 (ASC 740). Check here if the text of the footnote has been provided in Part XIII ..................................................
Schedule D (Form 990) 2013

Schedule D (Form 990) 2013
Page 4
Part XI Reconciliation of Revenue per Audited Financial Statements With Revenue per Return Complete if the organization answered 'Yes' to Form 990, Part IV, line 12a.
1 Total revenue, gains, and other support per audited financial statements ....... 1 461,415,950
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 XIII.) ............ 2d 12,978,533
e Add lines 2a through 2d ..................... 2e 12,978,533
3 Subtract line 2e from line 1..................... 3 448,437,417
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 XIII.) ........... 4b 6,976,074
c Add lines 4a and 4b....................... 4c 6,976,074
5 Total revenue. Add lines 3 and 4c. (This must equal Form 990, Part I, line 12.) ...... 5 455,413,491
Part XII Reconciliation of Expenses per Audited Financial Statements With Expenses per Return. Complete if the organization answered 'Yes' to Form 990, Part IV, line 12a.
1 Total expenses and losses per audited financial statements ........... 1 519,630,437
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 XIII.) ............ 2d 3,491,769
e Add lines 2a through 2d...................... 2e 3,491,769
3 Subtract line 2e from line 1..................... 3 516,138,668
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 XIII.) ............ 4b 6,976,074
c Add lines 4a and 4b....................... 4c 6,976,074
5 Total expenses. Add lines 3 and 4c. (This must equal Form 990, Part I, line 18.) ...... 5 523,114,742
Part XIII
Supplemental Information
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, line 2; Part XI, lines 2d and 4b; and Part XII, lines 2d and 4b. Also complete this part to provide any additional information.
Return Reference Explanation
Schedule D, Part XI, Line 2d, Other revenues in audited financial statements not in form 990 OTHER CHANGES IN NET ASSETS - 12978533;
Schedule D, Part XI, Line 4b, Other revenues in form 990 not in audited financial statements BANKRUPTCY SERVICING - 6976074;
Schedule D, Part XII, Line 2d, Other expenses in audited financial statements not in form 990 TRANSFER OF NET ASSETS - 3491769;
Schedule D, Part XII, Line 4b, Other expenses in form 990 not in audited financial statements BANKRUPTCY SERVICING - 6976074;
Schedule D (Form 990) 2013

Additional Data


Software ID: 13000248
Software Version: 2013v3.1




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
lBullet Information about Schedule I (Form 990) and its instructions is at www.irs.gov/form990.
OMB No. 1545-0047
2013
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. Part II can be duplicated if additional space is needed.
(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 INC
1 IMATION PLACE BLDG 2
OAKDALE,MN55128 		41-1991995 501(C)(3) 360,978,478       EDUCATION OPPORTUNITIES
(2) LOS ANGELES AREA CHAMBER OF COMMERCE
350 S BIXEL STREET
LOS ANGELES,CA90017 		95-2597392 501(C)(3) 500,000       EDUCATION GRANT
(3) VIRGINIA FOUNDATION
101 N 14TH ST 15TH FLOOR
RICHMOND,VA232193684 		23-7004354 501(C)(3) 50,000       SPONSORSHIP
(4) FOLSOM CORDOVA UNIFIED SCHOOL DISTRICT
1965 BIRKMONT DRIVE
RANCHO CORDOVA,CA95742 		94-6002505 SCHOOL DISTRICT 30,000       FINANCIAL SUPPORT FOR SCHOOL
(5) MILLS MIDDLE SCHOOL
10439 COLOMA ROAD
RANCHO CORDOVA,CA95670 		94-6002505 SCHOOL DISTRICT 25,000       FINANCIAL SUPPORT FOR SCHOOL
(6) OREGON STUDENT ASSISTANCE COMMISSION
1500 VALLEY RIVER DR STE 100
EUGENE,OR97401 		93-6015581 STATE AGENCY 15,500       GRANT & SPONSORSHIP












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 Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50055P
Schedule I (Form 990) 2013

Schedule I (Form 990) 2013
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.
Part III can be duplicated 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 96 48,460      
(2) GRANT 1 90      
(3) MARMADUKE SCHOLARSHIP 1 1,500      








Part IV
Supplemental Information. Provide the information required in Part I, line 2, Part III, column (b), and any other additional information.
Return Reference Explanation
Schedule I, Part I, Line 2, Procedures for monitoring use of grant funds ECMC GROUP, INC. IS 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) 2013


Additional Data


Software ID: 13000248
Software Version: 2013v3.1


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, line 23.
SchJMediumBullet Attach to Form 990. SchJMediumBullet See separate instructions.
SchJMediumBullet Information about Schedule J (Form 990) and its instructions is at www.irs.gov/form990.
OMB No. 1545-0047
2013
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 of 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
directors, trustees, officers, including the CEO/Executive Director, regarding the items checked in line 1a? ..
2
Yes
 
3
Indicate which, if any, of the following the filing organization used 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
Yes
 
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 Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50053T
Schedule J (Form 990) 2013

Schedule J (Form 990) 2013
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 (E) amounts for that individual.
(A) Name and Title (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)JAMES MURRAYFORMER DIRECTOR (i)
(ii)		 0
41,266 		0
0 		0
0 		0
0 		0
0 		0
41,266 		0
0
(2)RICHARD BOYLEDIRECTOR/ECMC GROUP CEO (i)
(ii)		 0
475,238 		0
425,000 		0
8,049 		0
30,600 		0
24,029 		0
962,916 		0
0
(3)FRED CHAMBERSFORMER VICE PRESIDENT (i)
(ii)		 0
63,552 		0
54,600 		0
31,831 		0
10,911 		0
11,134 		0
172,028 		0
0
(4)STEVEN WELLVANGFORMER SEC/GENERAL COUNSEL (i)
(ii)		 0
484,151 		0
53,544 		0
9,960 		0
16,320 		0
2,271 		0
566,246 		0
9,960
(5)MICHAEL HEFFERNANFORMER VICE PRESIDENT (i)
(ii)		 17,290
0 		42,000
0 		158,427
0 		5,367
0 		2,275
0 		225,359
0 		0
0
(6)JK SLAGSVOLD-JACOBSONFORMER DIRECTOR, DEFAULT PREVENTION/CLAIMS (i)
(ii)		 121,522
0 		24,087
0 		688
0 		17,806
0 		26,240
0 		190,343
0 		0
0
(7)GREGORY VAN GUILDERCHIEF FINANCIAL OFFICER (i)
(ii)		 0
306,483 		0
350,513 		0
1,777 		0
53,726 		0
29,573 		0
742,072 		0
21,387
(8)DANIEL FISHERSEC/GENERAL COUNSEL (i)
(ii)		 0
252,393 		0
214,482 		0
3,109 		0
43,314 		0
33,536 		0
546,834 		0
13,038
(9)DAVID HAWNCOO (i)
(ii)		 0
305,539 		0
326,047 		0
2,757 		0
52,362 		0
29,518 		0
716,223 		0
18,648
(10)HEIDI JOHNSONEXEC VICE PRESIDENT (i)
(ii)		 216,798
0 		200,003
0 		2,263
0 		40,346
0 		34,873
0 		494,283
0 		9,590
0
(11)HEATHER RENNEREXEC VICE PRESIDENT (i)
(ii)		 0
193,380 		0
95,685 		0
2,298 		0
32,885 		0
19,091 		0
343,339 		0
0
(12)EDWARD SPEARCHIEF INFORMATION OFFICER (i)
(ii)		 0
239,237 		0
187,091 		0
6,089 		0
40,526 		0
20,196 		0
493,139 		0
9,849
(13)KATHLEEN KINGCONTROLLER (i)
(ii)		 0
182,237 		0
107,379 		0
4,161 		0
32,708 		0
18,196 		0
344,681 		0
2,239
(14)MATTHEW MIKULSKISR VICE PRESIDENT (i)
(ii)		 0
163,392 		0
88,833 		0
2,337 		0
30,784 		0
28,240 		0
313,586 		0
175
(15)GERALDINE GJESDAHLVICE PRESIDENT (i)
(ii)		 0
149,406 		0
61,875 		0
1,294 		0
25,425 		0
595 		0
238,595 		0
0
(16)HUGH MCSHERRYVICE PRESIDENT (i)
(ii)		 0
145,984 		0
61,875 		0
6,808 		0
25,857 		0
26,240 		0
266,764 		0
0
(17)JANICE HINESPRESIDENT/CEO (i)
(ii)		 261,699
0 		168,328
0 		7,964
0 		40,870
0 		24,029
0 		502,890
0 		9,978
0
(18)DEBORAH RUDEVICE PRESIDENT (i)
(ii)		 149,616
0 		58,500
0 		6,995
0 		21,372
0 		7,274
0 		243,757
0 		0
0
(19)MARTIN SCANLONSR VICE PRESIDENT (i)
(ii)		 194,478
0 		127,716
0 		11,868
0 		35,583
0 		32,995
0 		402,640
0 		4,251
0
(20)THERESE BICKLERSR VICE PRESIDENT (i)
(ii)		 173,907
0 		63,927
0 		3,836
0 		29,262
0 		28,240
0 		299,172
0 		0
0
(21)LEN HYDESR VICE PRESIDENT (i)
(ii)		 190,406
0 		100,600
0 		1,356
0 		33,031
0 		29,573
0 		354,966
0 		0
0
(22)STEPHEN HANSENSR VICE PRESIDENT (i)
(ii)		 179,381
0 		56,824
0 		2,885
0 		28,384
0 		1,968
0 		269,442
0 		0
0
(23)REBECCA BERNHARDSR VICE PRESIDENT (i)
(ii)		 170,822
0 		68,063
0 		6,975
0 		30,233
0 		25,785
0 		301,878
0 		0
0
(24)RENEE JENNRICHVICE PRESIDENT (i)
(ii)		 134,991
0 		54,600
0 		6,007
0 		23,238
0 		19,096
0 		237,932
0 		0
0
(25)PAULA CRAWVICE PRESIDENT (i)
(ii)		 133,014
0 		24,575
0 		6,219
0 		19,172
0 		7,293
0 		190,273
0 		0
0
(26)JANEEN LAGRACEVICE PRESIDENT (i)
(ii)		 125,272
0 		54,453
0 		3,473
0 		22,933
0 		30,887
0 		237,018
0 		0
0
(27)DAVID PETERSONACCOUNT SPECIALIST (i)
(ii)		 43,362
0 		169,914
0 		926
0 		25,770
0 		9,826
0 		249,798
0 		0
0
(28)TIFFANY THOMPSONDIRECTOR, FINANCE (i)
(ii)		 141,059
0 		73,000
0 		1,491
0 		26,127
0 		5,309
0 		246,986
0 		0
0
(29)ARTHUR GONZALESDIRECTOR, COLLECTIONS (i)
(ii)		 97,747
0 		49,865
0 		5,138
0 		19,097
0 		20,848
0 		192,695
0 		0
0
(30)RICHARD HARDINGDIRECTOR, IT (i)
(ii)		 137,613
0 		26,393
0 		1,733
0 		20,132
0 		24,848
0 		210,719
0 		0
0
(31)ROBERT HEDRICKDIRECTOR, IT (i)
(ii)		 127,104
0 		15,426
0 		1,665
0 		18,282
0 		34,873
0 		197,350
0 		0
0
Schedule J (Form 990) 2013

Schedule J (Form 990) 2013
Page 3
Part III
Supplemental Information
Provide the information, explanation, or descriptions required for Part I, lines 1a, 1b, 3, 4a, 4b, 4c, 5a, 5b, 6a, 6b, 7, and 8, and for Part II.
Also complete this part for any additional information.
Return Reference Explanation
Schedule J, Part I, Line 1a, Tax indemnification and gross-up payments 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.
Schedule J, Part I, Line 4a, Severance or change-of-control payment THE FOLLOWING RECEIVED SEVERANCE PAYMENTS IN 2013: MICHAEL HEFFERNAN - $158,164. STEVEN WELLVANG - $355,058, PAID BY ECMC HOLDINGS, INC., A RELATED ORGANIZATION.
Schedule J, Part I, Line 4b, Supplemental nonqualified retirement plan ECMC GROUP, INC. MAINTAINS A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN DESCRIBED IN SECTION 457(F) TO ATTRACT AND RETAIN EMPLOYEES, TYPICALLY IN MANAGEMENT POSITIONS. IN 2013, FOUR EMPLOYEES, DANIEL FISHER, DAVID HAWN, GREGORY VAN GUILDER, AND HEIDI JOHNSON PARTICIPATED IN THE PLAN. NO PAYMENTS WERE MADE FROM THE PLAN.
Schedule J, Part I, Line 5a, Compensation contingent on revenues of the organization ECMC GROUP, INC.'S ANNUAL OFFICER INCENTIVE PLAN REQUIRES ACHIEVEMENT OF STATED PRIMARY FINANCIAL GOALS, WHICH INCLUDES REVENUES, BEFORE ANY PAYMENTS TO ANY OFFICER IS MADE.
Schedule J, Part I, Line 6a, Compensation contingent on net earnings of the organization ECMC GROUP, INC.'S ANNUAL OFFICER INCENTIVE PLAN REQUIRES ACHIEVEMENT OF STATED KEY PERFORMANCE METRICS, WHICH INCLUDES NET EARNINGS, BEFORE ANY PAYMENTS TO ANY OFFICER IS MADE.
Schedule J (Form 990) 2013

Additional Data


Software ID: 13000248
Software Version: 2013v3.1
SCHEDULE N
(Form 990 or 990-EZ)
Department of the Treasury
Internal Revenue Service
Liquidation, Termination, Dissolution, or Significant Disposition of Assets
bullet Complete if the organization answered "Yes" to Form 990, Part IV, lines 31 or 32; or Form 990-EZ, line 36.
bullet Attach certified copies of any articles of dissolution, resolutions, or plans.
bullet Attach to Form 990 or 990-EZ.
bulletInformation about Schedule N (Form 990 or 990-EZ) and its instructions is at www.irs.gov/form990.
OMB No. 1545-0047
2013
Open to Public
Inspection
Name of the organization
EDUCATIONAL CREDIT MANAGEMENT CORPORATION
 
Employer identification number
41-1778617
Part I
Liquidation, Termination, or Dissolution. Complete this part if the organization answered "Yes" to Form 990, Part IV, line 31, or Form 990-EZ, line 36.
Part I can be duplicated if additional space is needed.
1(a)Description of asset(s)
distributed or transaction
expenses paid		 (b)Date of
distribution		 (c)Fair market value of
asset(s) distributed or
amount of transaction
expenses		 (d)Method of
determining FMV for
asset(s) distributed or
transaction expenses		 (e)EIN of recipient (f)Name and address of recipient (g)IRC section
of recipient(s) (if
tax-exempt) or type
of entity




















Yes
No
2
Did or will any officer, director, trustee, or key employee of the organization:
a
Become a director or trustee of a successor or transferee organization? . . . . . . . . . . . . . . . . . . . . .
2a
 
 
b
Become an employee of, or independent contractor for, a successor or transferee organization? . . . . . . . . . . . . . . . .
2b
 
 
c
Become a direct or indirect owner of a successor or transferee organization? . . . . . . . . . . . . . . . . . . . .
2c
 
 
d
Receive, or become entitled to, compensation or other similar payments as a result of the organization's liquidation, termination, or dissolution? . . . . .
2d
 
 
e
If the organization answered "Yes" to any of the questions on lines 2a through 2d, provide the name of the person involved and explain in Part III. bullet
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or Form 990-EZ.
Cat. No. 50087Z
Schedule N (Form 990 or 990-EZ) (2013)

Schedule N (Form 990 or 990-EZ) (2013)
Page 2
Part I
Liquidation, Termination, or Dissolution (continued)
Note. If the organization distributed all of its assets during the tax year, then Form 990, Part X, column (B), line 16 (Total assets), and line 26 (Total liabilities), should equal -0-.
Yes
No
3
Did the organization distribute its assets in accordance with its governing instrument(s)? If "No," describe in Part III . . . . . . . . . . .
3
 
 
4a
Is the organization required to notify the attorney general or other appropriate state official of its intent to dissolve, liquidate, or terminate? . . . . . .
4a
 
 
b
If "Yes," did the organization provide such notice? . . . . . . . . . . . . . . . . . . . . . . . . . .
4b
 
 
5
Did the organization discharge or pay all of its liabilities in accordance with state laws? . . . . . . . . . . . . . . . . .
5
 
 
6a
Did the organization have any tax-exempt bonds outstanding during the year? . . . . . . . . . . . . . . . . . . . .
6a
 
 
b
Did the organization discharge or defease all of its tax-exempt bond liabilities during the tax year in accordance with the Internal Revenue Code and state laws? .
6b
 
 
c
If "Yes" to line 6b, describe in Part III how the organization defeased or otherwise settled these liabilities. If "No," explain in Part III.

Part II
Sale, Exchange, Disposition, or Other Transfer of More Than 25% of the Organization's Assets. Complete this part if the organization answered "Yes" to Form 990, Part IV, line 32, or Form 990-EZ, line 36. Part II can be duplicated if additional space is needed.
1(a) Description of asset(s)
distributed or transaction
expenses paid		 (b) Date of
distribution		 (c) Fair market value of
asset(s) distributed or
amount of transaction
expenses		 (d) Method of
determining FMV for
asset(s) distributed or
transaction expenses		 (e) EIN of recipient (f) Name and address of recipient (g) IRC section
of recipient(s) (if
tax-exempt) or type
of entity
CASH-PAID THROUGH THE YEAR. 360,978,478 CASH 41-1991995 ECMC GROUP INC
 
1 IMATION PLACE BLDG B
OAKDALE,MN551283422 		501(C)(3)
















Yes
No
2
Did or will any officer, director, trustee, or key employee of the organization:
a
Become a director or trustee of a successor or transferee organization? . . . . . . . . . . . . . . . . . . . . .
2a
 
 
b
Become an employee of, or independent contractor for, a successor or transferee organization? . . . . . . . . . . . . . . . .
2b
 
 
c
Become a direct or indirect owner of a successor or transferee organization? . . . . . . . . . . . . . . . . . . . . .
2c
 
 
d
Receive, or become entitled to, compensation or other similar payments as a result of the organization’s significant disposition of assets? . . . . . . .
2d
 
 
e
If the organization answered "Yes" to any of the questions on lines 2a through 2d, provide the name of the person involved and explain in Part III. bullet
Schedule N(Form 990 or 990-EZ) (2013)

Schedule N (Form 990 or 990-EZ) (2013)
Page 3
Part III
Supplemental Information. Provide the information required by Part I, lines 2e and 6c, and Part II, line 2e. Also complete this part to provide any additional information.
Return Reference Explanation
SCHEDULE N, PART II, LINE 1, CASH-PAID THROUGH THE YEAR. ECMC GROUP, INC. IS THE PARENT OF AND A SUPPORTING ORGANIZATION TO ECMC. ECMC GROUP, INC. RETAINS THE FOLLOWING AUTHORITY OVER ECMC: 1. TO AUTHORIZE AMENDMENTS TO THE ARTICLES 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. ECMC GROUP, INC. AUTHORIZES THE DISTRIBUTION OF FUNDS FROM ECMC TO ECMC GROUP, INC. SECTION 422B OF THE HIGHER EDUCATION ACT OF 1965, AS AMENDED, ALLOWS ECMC TO INVEST FUNDS AT ITS DISCRETION IN ACCORDANCE WITH PRUDENT INVESTOR STANDARDS AND TO USE FUNDS FOR HIGHER EDUCATION RELATED ACTIVITIES. ECMC DISTRIBUTES FUNDS TO ECMC GROUP, INC. TO INVEST AND TO DISTRIBUTE TO ECMC FOUNDATION TO USE FOR HIGHER EDUCATION RELATED ACTIVITIES.
Schedule N (Form 990 or 990-EZ) (2013)


Additional Data


Software ID: 13000248
Software Version: 2013v3.1


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.
MediumBullet Information about Schedule O (Form 990 or 990-EZ) and its instructions is at
www.irs.gov/form990.
OMB No. 1545-0047
2013
Open to Public
Inspection
Name of the organization
EDUCATIONAL CREDIT MANAGEMENT CORPORATION
 
Employer identification number

41-1778617
Return Reference Explanation
Form 990, Part III, Line 2, New program services ECMC SOLUTIONS PROGRAM. ON MARCH 3, 2013, ECMC PURCHASED THE ASSETS OF ECMC SOLUTIONS CORPORATION FROM ECMC HOLDINGS CORPORATION, A RELATED ENTITY. ECMC SOLUTIONS WAS REPOSITIONED TO A SERVICE OF ECMC TO ALIGN WITH ECMC'S MISSION TO HELP STUDENTS REALIZE THEIR POTENTIAL TO ACHIEVE THEIR EDUCATION GOALS AND TO SUPPORT POST-SECONDARY INSTITUTIONS. THE ECMC SOLUTIONS PROGRAM WORKS WITH POST-SECONDARY INSTITUTIONS TO OFFER COST-EFFECTIVE REPAYMENT COUNSELING SERVICES FOR FEDERALLY-INSURED STUDENT LOANS TO STUDENT LOAN BORROWERS WHICH IN TURN HELP POST-SECONDARY INSTITUTIONS MANAGE THEIR COHORT DEFAULT RATE. SERVICES INCLUDE DEFAULT PREVENTION AND FINANCIAL LITERACY.
Form 990, Part III, Line 3, Significant changes in program services CAL GRANT PROGRAM: IN 2012 ECMC COMMITTED TO FUND $84,657,132 FOR THE STATE OF CALIFORNIA'S 2012-2013 CAL GRANT FINANCIAL AID PROGRAM. DURING 2012, ECMC FOUNDATION ACTED AS AN AGENT TO FACILITATE THE PAYMENT OF THESE FUNDS. IN 2013 ECMC FOUNDATION MADE A GRANT OF $98,100,000 FOR THE STATE OF CALIFORNIA'S 2013-2014 CAL GRANT FINANCIAL AID PROGRAM.
Form 990, Part VI, Sec A, Line 6, Classes of members or stockholders 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.
Form 990, Part VI, Sec A, Line 7a, Members or stockholders electing members of governing body ECMC GROUP, INC. HAS THE RIGHT TO ELECT AND/OR APPROVE ALL THE DIRECTORS OF THE EDUCATIONAL CREDIT MANAGEMENT CORPORATION'S BOARD OF DIRECTORS.
Form 990, Part VI, Sec A, Line 7b, Decisions requiring approval by members or stockholders ECMC GROUP, INC. RETAINS THE FOLLOWING AUTHORITY OVER EDUCATIONAL CREDIT MANAGEMENT CORPORATION: 1. TO AUTHORIZE AMENDMENTS TO THE ARTICLES 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.
Form 990, Part VI, Sec B, Line 11b, Review of form 990 by governing body 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.
Form 990, Part VI, Sec B, Line 12c, Conflict of interest policy 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.
FORM 990, PART 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 BE NO REPERCUSSIONS FOR GOOD FAITH REPORTING OF POTENTIAL ILLEGAL PRACTICES OR VIOLATIONS OF CORPORATE POLICIES. ECMC FOUNDATION HAS ESTABLISHED AN ANONYMOUS WHISTLEBLOWER TELEPHONE HOTLINE AND WEBSITE ADMINISTERED BY AN OUTSIDE VENDOR.
Form 990, Part VI, Sec B, Line 15a, Process to establish compensation of top management official THE FOLLOWING DESCRIBES THE ECMC AND ECMC GROUP, INC. EXECUTIVE COMPENSATION METHODOLOGY. THE GOVERNANCE & COMPENSATION COMMITTEE OF THE ECMC GROUP, INC. BOARD OF DIRECTORS IS WHOLLY COMPRISED OF INDEPENDENT, OUTSIDE DIRECTORS. IN 2013, 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.
Form 990, Part VI, Sec B, Line 15b, Process to establish compensation of other employees THE FOLLOWING DESCRIBES THE ECMC AND ECMC GROUP, INC. EXECUTIVE COMPENSATION METHODOLOGY. THE GOVERNANCE & COMPENSATION COMMITTEE OF THE ECMC GROUP, INC. BOARD OF DIRECTORS IS WHOLLY COMPRISED OF INDEPENDENT, OUTSIDE DIRECTORS. IN 2013, 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.
Form 990, Part VI, Sec C, Line 19, Required documents available to the public NO DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC.
FORM 990, PART VII, SECTION A, CONSULTING JAMES MURRAY, A FORMER DIRECTOR, HAD A CONSULTING AGREEMENT IN 2013.
FORM 990, PART XI, LINE 9, OTHER CHANGES IN NET ASSETS $12,978,533. PRIOR TO 2013, COLLECTABILITY OF THE FULL AMOUNT OF THE NOTES RECEIVABLE FROM AFFILIATE WAS UNCERTAIN. ECMC HAD RECORDED AN ALLOWANCE FOR LOAN LOSS OF $8,200,000 AS A RESULT, AND CEASED ACCRUING INTEREST ON THE NOTES DUE TO THE LIKELIHOOD THAT THE INTEREST WOULD NOT BE COLLECTIBLE. IN AUGUST, 2013, EDUCATION CREDIT SERVICE COMPANY, A SUBSIDIARY OF ECMC HOLDINGS CORPORATION, PAID $12,500,000 ON THE NOTES RECEIVABLE. AS A RESULT, THE UNCERTAINTY NO LONGER EXISTED AND THIS VALUATION ALLOWANCE WAS REMOVED, AND NINE YEARS OF INTEREST INCOME IN THE AMOUNT OF $4,778,533 WAS RECOGNIZED. $3,491,769. ON MARCH 3, 2013, ECMC PURCHASED THE ASSETS OF ECMC SOLUTIONS CORPORATION FROM ECMC HOLDINGS CORPORATION, A RELATED ENTITY. THE PURCHASE IS CONSIDERED A COMMON CONTROL TRANSACTION. ACCOUNTING GUIDANCE REQUIRED THE TRANSFER OF ASSETS BE RECORDED ON ECMC'S BOOKS AT THE CARRYING VALUE OF ASSETS ON THE RELATED ENTITY'S BOOKS (I.E. DEPRECIATED VALUE). ANY DIFFERENCES BETWEEN THE PROCEEDS TRANSFERRED AND THE CARRYING AMOUNTS OF THE NET ASSETS ARE CONSIDERED EQUITY TRANSACTIONS THAT WOULD BE ELIMINATED IN CONSOLIDATION, AND NO GAIN OR LOSS IS RECOGNIZED.
Form 990 , Part XI, Line 9, Other changes in net assets or fund balances OTHER CHANGES IN NET ASSETS - 12978533; TRANSFER OF NET ASSETS - -3491769;
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 51056K
Schedule O (Form 990 or 990-EZ) 2013

Additional Data


Software ID: 13000248
Software Version: 2013v3.1
SCHEDULE R
(Form 990)
Department of the Treasury
Internal Revenue Service
Related Organizations and Unrelated Partnerships
MediumBulletComplete if the organization answered "Yes" on Form 990, Part IV, line 33, 34, 35b, 36, or 37.
MediumBulletAttach to Form 990. MediumBullet See separate instructions.
MediumBullet Information about Schedule R (Form 990) and its instructions is at www.irs.gov/form990.

OMB No. 1545-0047
2013
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 (if applicable) 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 entity?
Yes No
(1) ECMC GROUP INC

1 IMATION PLACE BLDG 2

OAKDALE,MN55128
41-1991995 		EDUCATION FINANCE DE 501(C)(3) 11 - Type II NA
 
 
 
(2) ECMC FOUNDATION

1 IMATION PLACE BLDG 2

OAKDALE,MN55128
41-1990628 		PROMOTE EDUCATION DE 501(C)(3) 11 - Type II ECMC GROUP INC
 
 
 










For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50135Y
Schedule R (Form 990) 2013
Schedule R (Form 990) 2013
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 NORTH 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,MN55128
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
 		(i)
Section 512(b)(13) controlled entity?
Yes No
(1) OAKDALE INVESTMENT MANAGEMENT CORPORATION

1 IMATION PLACE BLDG 2
OAKDALE,MN55128
46-1549752 		HOLDING INVESTMENTS DE NA
  		C CORPORATION          
(2) ECMC HOLDINGS CORPORATION

1 IMATION PLACE BLDG 2
OAKDALE,MN55128
41-1991992 		STRATEGIC OVERSIGHT DE NA
  		C CORPORATION          
(3) EDUCATIONAL CREDIT SERVICES COMPANY

1 IMATION PLACE BLDG 2
OAKDALE,MN55128
41-1992001 		PRIVATE LOANS DE NA
  		C CORPORATION          
(4) ECMC RECORDS & REC MGMT CORPORATION

1 IMATION PLACE BLDG 2
OAKDALE,MN55128
41-1989959 		DOCUMENT MANAGEMENT DE NA
  		C CORPORATION          
(5) ECMC MANAGEMENT SERVICES CORPORATION

1 IMATION PLACE BLDG 2
OAKDALE,MN55128
41-1989960 		MANAGEMENT SERVICES DE NA
  		C CORPORATION          
(6) ECMC TECHNOLOGY SERVICE CORPORATION

1 IMATION PLACE BLDG 2
OAKDALE,MN55128
41-1989958 		TECHNOLOGY SERVICES DE NA
  		C CORPORATION          
(7) ECMC SOLUTIONS CORPORATION

1 IMATION PLACE BLDG 2
OAKDALE,MN55128
27-1854584 		DEFAULT AVERSION DE NA
  		C CORPORATION          
Schedule R (Form 990) 2013
Schedule R (Form 990) 2013
Page 3
Part V
Transactions With Related Organizations Complete if the organization answered "Yes" on Form 990, Part IV, line 34, 35b, or 36.
Note. Complete line 1 if any entity is listed in Parts II, III, or IV of this schedule.
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 or (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
Yes
 
e Loans or loan guarantees by related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1e
 
No
f Dividends from related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1f
 
No
g Sale of assets to related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1g
 
No
h Purchase of assets from related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1h
Yes
 
i Exchange of assets with related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1i
 
No
j Lease of facilities, equipment, or other assets to related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1j
 
No
k Lease of facilities, equipment, or other assets from related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . .
1k
 
No
l Performance of services or membership or fundraising solicitations for related organization(s) . . . . . . . . . . . . . . . . . . . .
1l
 
No
m Performance of services or membership or fundraising solicitations by related organization(s) . . . . . . . . . . . . . . . . . . . .
1m
Yes
 
n Sharing of facilities, equipment, mailing lists, or other assets with related organization(s) . . . . . . . . . . . . . . . . . . . . .
1n
Yes
 
o Sharing of paid employees with related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1o
Yes
 
p Reimbursement paid to related organization(s) for expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1p
Yes
 
q Reimbursement paid by related organization(s) for expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1q
 
No
r Other transfer of cash or property to related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1r
 
No
s Other transfer of cash or property from related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1s
 
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 related organization 		(b)
Transaction
type (a-s) 		(c)
Amount involved 		(d)
Method of determining amount involved





Schedule R (Form 990) 2013
Schedule R (Form 990) 2013
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) 2013
Schedule R (Form 990) 2013
Page 5
Part VII
Supplemental Information
Provide additional information for responses to questions on Schedule R (see instructions).
Return Reference Explanation
PART III, IDENTIFICATION OF RELATED ORGANIZATIONS TAXABLE AS A PARTNERSHIP PREMIERE CREDIT OF NORTH AMERICA, LLC AND OAKDALE STUDENT LOAN FUNDING, LLC ARE DISREGARDED ENTITIES OF ECMC HOLDINGS CORPORATION AND ECMC GROUP, INC., RESPECTIVELY.
PART V, LINE 1B, GIFT, GRANT, OR CAPITAL CONTRIBUTION TO RELATED ORGANIZATION(S) $360,978,478 CONTRIBUTION MADE BY ECMC TO ECMC GROUP, INC.: ECMC GROUP, INC. IS THE PARENT OF AND A SUPPORTING ORGANIZATION TO ECMC. ECMC GROUP, INC. RETAINS THE FOLLOWING AUTHORITY OVER ECMC: 1. TO AUTHORIZE AMENDMENTS TO THE ARTICLES 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. ECMC GROUP, INC. AUTHORIZES THE DISTRIBUTION OF FUNDS FROM ECMC TO ECMC GROUP, INC. SECTION 422B OF THE HIGHER EDUCATION ACT OF 1965, AS AMENDED, ALLOWS ECMC TO INVEST FUNDS AT ITS DISCRETION IN ACCORDANCE WITH PRUDENT INVESTOR STANDARDS AND TO USE FUNDS FOR HIGHER EDUCATION RELATED ACTIVITIES. ECMC DISTRIBUTES FUNDS TO ECMC GROUP, INC. TO INVEST AND TO DISTRIBUTE TO ECMC FOUNDATION TO USE FOR HIGHER EDUCATION RELATED ACTIVITIES.
PART V, LINE 1D, OUTSTANDING LOANS TO EDUCATIONAL CREDIT SERVICES COMPANY ECMC HAS TWO NOTE ARRANGEMENTS WITH EDUCATIONAL CREDIT SERVICES COMPANY (ECSC), A SUBSIDIARY OF ECMC HOLDINGS CORPORATION. THE LAST ADVANCES MADE BY ECMC UNDER THESE NOTES WAS MAY 2004. THE FIRST NOTE ALLOWS ECMC TO MAKE ADVANCES TO ECSC OF UP TO $30,000.000 TO FINANCE ECSC'S PRIVATE STUDENT LOAN PROGRAM. THE SECOND NOTE PROVIDES FOR ADVANCES FROM ECMC TO ECSC OF UP TO $10,000,000 TO FINANCE ONGOING OPERATIONS OF ECSC. AT YEAR END THERE WAS $3,845,647 AND $0 OUTSTANDING UNDER THE FIRST AND SECOND NOTES, RESPECTIVELY.
PART V, LINE 1H, PURCHASE OF ASSET FROM RELATED ORGANIZATION. ON MARCH 3, 2013, ECMC PURCHASED THE ASSETS OF ECMC SOLUTIONS CORPORATION FROM ECMC HOLDINGS CORPORATION, A RELATED ENTITY. ECMC SOLUTIONS CORPORATION PROVIDED FEE-BASED REPAYMENT SERVICES TO SCHOOLS, FOCUSING ON PRINCIPAL PAYMENT REDUCTION AND DEFAULT PREVENTION.
PART V, LINE 1M, PERFORMANCE OF SERVICES BY RELATED ORGANIZATION(S) $13,518,699 COLLECTION AGENCY COMMISSION FEES WERE PAID TO PREMIERE CREDIT OF NORTH AMERICA, LLC, A SUBSIDIARY OF ECMC HOLDINGS CORPORATION, A RELATED ORGANIZATION.
PART V, LINE 1N, SHARING OF FACILITIES, EQUIPMENT, OR OTHER ASSETS WITH RELATED ORG(S) $28,479,801 ALLOCATED EXPENSES FOR FACILITIES, EQUIPMENT, MAILING LISTS, OR OTHER ASSETS SHARED WITH ECMC GROUP, INC.
PART V, LINE 1O, SHARING OF PAID EMPLOYEES WITH RELATED ORGANIZATION(S) $23,868,588 ALLOCATED EXPENSES FOR PAID EMPLOYEES SHARED WITH ECMC GROUP, INC.
PART V, LINE 1O, SHARING OF PAID EMPLOYEES WITH RELATED ORGANIZATION(S) $188,983 ALLOCATED EXPENSES FOR PAID EMPLOYEES SHARED WITH ECMC FOUNDATION.
PART V, LINE 1O, SHARING OF PAID EMPLOYEES WITH RELATED ORGANIZATION(S) $1,126,161 ALLOCATED EXPENSES FOR PAID EMPLOYEES SHARED WITH ECMC HOLDINGS CORPORATION.
PART V, LINE 1P, REIMBURSEMENT PAID TO RELATED ORGANIZATION(S) FOR EXPENSES $6,967,282 REIMBURSEMENT PAID TO ECMC GROUP, INC. FOR EXPENSES.
PART V, LINE 1Q, REIMBURSEMENT PAID BY RELATED ORGANIZATION(S) FOR EXPENSES $679,063 REIMBURSEMENT PAID BY ECMC HOLDINGS CORPORATION FOR EXPENSES.
Schedule R (Form 990) 2013
Additional Data


Software ID: 13000248
Software Version: 2013v3.1