Ecmc Education Inc

Nonprofit profile at a glance

EIN: 472237488
IRS 990 coverage: 2014–2024
Forms available: Form 990 2024, Form 990-N 2018
Location: Minneapolis, MN, USA
Phone: 6512210566
Rating: 48
Verdict: MIXED
Rating confidence: Moderate
Sector: Higher Education Institutions

Official website

Reported finances

Revenue: $14,039,865
Expenses: $4,551,007
Assets: $2,944,520
Liabilities: $16,115,435

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

16 people listed

Executive titles in this filing

DANIEL FISHER (PRESIDENT & CEO, ECMC GROUP)
JEREMY WHEATON (FORMER PRESIDENT & CEO, ECMC GROUP)

Highest reported compensation

DANIEL FISHER (PRESIDENT & CEO, ECMC GROUP): $1,503,752 total reported compensation
MARTIN SCANLON (CFO & TREASURER): $1,011,175 total reported compensation
BRIAN BOARDMAN (GENERAL COUNSEL & CORP SECRETARY): $612,291 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Ecmc education, inc.'s mission is to transform career and technical education to provide aspiring and current learners with skills to elevate their careers and communities.

What it reported doing in 2024

Instruction and student services: ecmc education offered career and technical education opportunities with an emphasis in allied health and trades. On march 31, 2022, a plan for liquidation for ecmc education, inc. And all three of its altierus schools was approved by the ecmc group, inc. Board of directors. The teach-outs were completed during 2023 with related expenses being settled through 2027. Ecmc education, inc. No longer enrolls any students as of december 31, 2023. The change is part of ecmc group, inc.'s plan to concentrate primarily on its educational credit management corporation guarantor-related activities, ecmc foundation and education impact investing.

Operating model

Revenue model: Affiliate-supported. 69% of the money available for current operations came from contributions from related organizations.
Distribution model: Direct operator. The filing allocates 99% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

Financial Efficiency: 7
Transparency & Controls: 81
Accountability: 94
Sustainability: 52
Growth: 0

Detailed rating inputs

Financial Efficiency

Mission deployment rate: 4.2%; rating input score 4
Program expense ratio: 12.8%; rating input score 13
Fundraising efficiency: Limited

Transparency & Controls

Consistency checks: 92.9%; rating input score 93; 10th percentile among comparable filings
Pay-setting controls: 4 of 6 controls in place; rating input score 67
- Compensation committee: Pass
- Independent consultant: Pass
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Pass
- Board or committee approval: Pass
Foreign activity oversight: Limited
Grant itemization coverage: Limited
Major donor itemization: Yes; rating input score 100
Related-party transparency: Limited

Accountability

Independent voting board: 88.9%; rating input score 89; 21st percentile among comparable filings
Governance controls: 9 of 9 controls in place; rating input score 100
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass

Sustainability

Operating margin: 67.6%; rating input score 97; 97th percentile among comparable filings
Total-asset coverage ratio: 0.65; rating input score 22; 22nd percentile among comparable filings
Liabilities to assets ratio: 5.47; rating input score 0; 0th percentile among comparable filings
Officer compensation ratio: 23.1%; rating input score 3; 3rd percentile among comparable filings

Growth

Program expense growth: -24.4% per year; rating input score 0; 1st percentile among comparable filings
Revenue growth: -19.2% per year; rating input score 0; 0th percentile among comparable filings
Asset growth: -23.1% per year; rating input score 0; 0th percentile among comparable filings

Details

Where the money goes: 4.2% of revenue deployed · 12.8% of spending went to programs
Governance: 8 of 9 board members independent · 9 of 9 filing controls reported
Programs: 1 filed program accomplishment · $583K in reported program spending
Leadership: top reported pay $1.5M · 16 people listed · 4 of 6 pay-setting controls reported
Highest-paid contractors: 4 contractors listed · $1.9M reported
Consistency: 29 of 29 current checks pass
Schedules: 6 filed schedules · includes major donors and executive pay
Filing history: 10 filing years from 2014 to 2024
Contacts: How to reach this organization
Money network: 3 filed money-flow records
Related organizations: 36 filed related-organization links
Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

High — Financial Efficiency: Mission deployment rate scored 4/100.
High — Financial Efficiency: Program expense ratio scored 13/100.
High — Growth: Program expense growth scored 0/100.
High — Growth: Revenue growth scored 0/100.
High — Sustainability: Total-asset coverage ratio scored 22/100.
High — Growth: Asset growth scored 0/100.
High — Sustainability: Liabilities to assets ratio scored 0/100.
High — Sustainability: Officer compensation ratio scored 3/100.