Liabilities / Assets
16th percentile
Higher debt load relative to assets than 16% of similar nonprofits.
Ascendium Education Solutions Inc.
990 • Fiscal year 2018 • EIN 39-1853833
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
0.06x
Liabilities / Revenue
19th percentile
Higher debt load relative to revenue than 19% of similar nonprofits.
Net Margin
91st percentile
Higher net margin than 91% of similar nonprofits.
Top Officer Pay
50th percentile
Higher top officer pay than 50% of similar nonprofits.
Top officer pay equals 0.4% of source-year revenue.
Asset Growth
25th percentile
Faster asset growth than 25% of similar nonprofits.
Revenue Growth
24th percentile
Faster revenue growth than 24% of similar nonprofits.
Balance Sheet
Assets
Down$663,920,334
Down $6,370,572 (-1.0%) from 2017
Net Assets
Down$621,004,994
Down $8,773,330 (-1.4%) from 2017
Liabilities
Up$42,915,340
Up $2,402,758 (+5.9%) from 2017
Revenue And Expenses
Revenue
Down$222,804,138
Down $2,276,787 (-1.0%) from 2017
Expenses
Up$132,565,215
Up $2,695,562 (+2.1%) from 2017
Net Income
Down$90,238,923
Down $4,972,349 (-5.2%) from 2017
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jan 1, 2018 to Dec 31, 2018
- Signed
- Aug 28, 2019
- Return Version
- 2018v3.1
- Gross Receipts
- $222,804,138
Mission and Program Overview
Mission
Ascendium education solutions, inc. Operates to provide for philanthropic support and cost effective enablement of access to and persistence in post-secondary education by providing full-range guaranty agency services and grant support to funding sources, educational institutions, charitable organizations, and others to broaden federally guaranteed loan availability and pursuit of and participation in post-secondary education in accordance with the federal higher education act of 1965, as amended. This mission statement has been reviewed, acknowledged and informally approved by the board.
Operates to provide cost effective access to post-secondary education by providing guaranty services to broaden federally guaranteed loan availability.
Balance Sheet Detail
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Savings and Temporary Cash Investments | $376,403,886 | $488,959,618 | ▲ $112,555,732 |
| Investments in Publicly Traded Securities | $214,509,610 | $148,496,510 | ▼ $66,013,100 |
| Accounts Receivable | $37,564,544 | $5,514,279 | ▼ $32,050,265 |
| Cash and Non-Interest-Bearing Accounts | $2,380,187 | $2,312,583 | ▼ $67,604 |
| Prepaid Expenses and Deferred Charges | $501,701 | $1,852,589 | ▲ $1,350,888 |
| Land, Buildings, and Equipment, Net | $77,565 | $32,452 | ▼ $45,113 |
| Other Notes and Loans Receivable, Net | $0 | $0 | → $0 |
| Pledges and Grants Receivable | $0 | $0 | → $0 |
| Receivable From Disqualified Prsn | $0 | $0 | → $0 |
| Receivables From Officers Etc | $0 | $0 | → $0 |
| Investments Other Securities | $0 | $0 | → $0 |
| Investments Program Related | $0 | $0 | → $0 |
| Intangible Assets | $0 | $0 | → $0 |
| Inventories for Sale or Use | $0 | $0 | → $0 |
| Loans From Officers Directors | $0 | $0 | → $0 |
| Total Assets | $670,290,906 | $663,920,334 | ▼ $6,370,572 |
| Other Assets Total | $38,853,413 | $16,752,303 | ▼ $22,101,110 |
| Liabilities | |||
| Other Liabilities | $29,163,571 | $24,769,030 | ▼ $4,394,541 |
| Accounts Payable and Accrued Expenses | $7,249,893 | $13,480,339 | ▲ $6,230,446 |
| Deferred Revenue | $4,099,118 | $4,665,971 | ▲ $566,853 |
| Grants Payable | $0 | $0 | → $0 |
| Mortgage Notes Payable Secured by Investment Property | $0 | $0 | → $0 |
| Unsecured Notes Loans Payable | $0 | $0 | → $0 |
| Escrow Account Liability | $0 | $0 | → $0 |
| Tax Exempt Bond Liabilities | $0 | $0 | → $0 |
| Total Liabilities | $40,512,582 | $42,915,340 | ▲ $2,402,758 |
| Net Assets / Fund Balance | |||
| Unrestricted Net Assets | $629,778,324 | $621,004,994 | ▼ $8,773,330 |
| Permanently Rstr Net Assets | $0 | $0 | → $0 |
| Temporarily Rstr Net Assets | $0 | $0 | → $0 |
| Total Net Assets Fund Balance | $629,778,324 | $621,004,994 | ▼ $8,773,330 |
| Total Liabilities and Net Assets / Fund Balance | $670,290,906 | $663,920,334 | ▼ $6,370,572 |
Asset Categories
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Equipment | $26,402 | $329,767 | $356,169 |
| Other Land Buildings | $6,050 | $0 | $6,050 |
Compensation and Service Providers
Employees
| Name | Title | Full / Part Time | Base | Other | Total |
|---|---|---|---|---|---|
| Jacqueline Fairbairn 3 | VP - Guaranty Services & Suppo | FT | $130,432 | $193,076 | $323,508 |
| Beth Erickson 3 | VP - Repayment Solutions | FT | $135,591 | $177,461 | $313,052 |
| Amy Kobishop 3 | VP - Community Investments | FT | $130,473 | $168,289 | $298,762 |
| Jason Rasmussen | Director - Strategic Communication | FT | $129,747 | $65,230 | $194,977 |
| Barbara Wilhelm | Director - Claims Review | FT | $137,205 | $34,142 | $171,347 |
| Ellen Welke | Director - Default Collections | FT | $104,830 | $48,525 | $153,355 |
| Kira Cortese | Creative Director | FT | $112,297 | $38,227 | $150,524 |
| Brian Kobishop | VP - IT/Security/Logistics | PT | - | $137,302 | $137,302 |
| Kristi Myers | Systems Integration Analyst | FT | $119,570 | $16,450 | $136,020 |
| Maureen Harrill | VP - Human Resources | PT | - | $82,578 | $82,578 |
| Cynthia Walsh 1 | Director | - | $10,875 | $10,875 | $21,750 |
| Emerson Brumback 1 | Director | - | $5,917 | $11,833 | $17,750 |
| Mary Burke 1 | Director | - | $3,550 | $14,200 | $17,750 |
| Richard Weiss 1 | Director | - | $3,550 | $14,200 | $17,750 |
| Thomas Scarlett 1 | Director | - | $4,875 | $4,875 | $9,750 |
Board Members and Trustees
| Name | Title |
|---|---|
| Richard D George 23 | Chair/Pres/CEO/Treas |
| David J Hanson 1 | Director/Secretary |
| Hope Merry | Chief Financial Officer |
| Jeffery Crosby 3 | Chief Operating Officer |
| Rebecca Rapp 3 | Gen Cnsl & Asst Secretary |
Revenue and Support
Revenue Composition
- Contributions and Grants
- $0
- Program Service Revenue
- $203,909,208
- Investment Income
- $9,782,843
- Other Revenue
- $9,112,087
- Change in Net Assets
- $90,238,923
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Other Expenses | $76,905,555 |
| Grants and Similar Amounts Paid | $38,937,929 |
| Salaries, Compensation, and Employee Benefits | $16,721,731 |
| Professional Fundraising Fees | $0 |
| Total Fundraising Expense | $0 |
Functional Expense Allocation
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Grants to Domestic Orgs | $36,911,094 | - | - | $36,911,094 |
| Other Salaries and Wages | $11,712,934 | $195,180 | - | $11,908,114 |
| All Other Expenses | $3,614,332 | - | - | $3,614,332 |
| Other Expenses | $2,836,689 | $23,528,881 | - | $2,836,689 |
| Grants to Domestic Individuals | $2,026,835 | - | - | $2,026,835 |
| Other Employee Benefits | $1,811,638 | $34,473 | - | $1,846,111 |
| Fees for Services Other | $1,577,072 | - | - | $1,577,072 |
| Office Expenses | $1,242,772 | - | - | $1,242,772 |
| Current Officers, Directors, Trustees, and Key Employees | $1,183,635 | $41,674 | - | $1,225,309 |
| Pension Plan Contributions | $924,032 | $17,236 | - | $941,268 |
| Occupancy | $867,355 | - | - | $867,355 |
| Payroll Taxes | $786,822 | $14,107 | - | $800,929 |
| Travel | $285,954 | $7,385 | - | $293,339 |
| Fees for Services Legal | - | $130,526 | - | $130,526 |
| Advertising | $108,219 | - | - | $108,219 |
| Conferences and Meetings | $82,084 | - | - | $82,084 |
| Depreciation Depletion | $20,487 | - | - | $20,487 |
| Fees for Services Accounting | - | $8,900 | - | $8,900 |
| Insurance | $7,279 | - | - | $7,279 |
| Total Functional Expenses | $108,586,853 | $23,978,362 | $0 | $132,565,215 |
International Activity
Grant and Assistance Recipients
| Recipient | Location | Category | Purpose | Amount |
|---|---|---|---|---|
| Madison Area Technical College | Madison, WI | Govt | South Campus Capital Grant; Dash Emergency Grant Program | $10,212,000 |
| Mdrc | New York, NY | 501(c)(3) | College Promise Initiative; Multiple measures assessment Phase II Project; UW Internship symposium travel. The finish Line graduation by design; Encouraging additional summer enrollment program; accelerated study in association programs | $2,818,555 |
| Arizona State Univ Foundatn for a New American Uni | Tempe, AZ | 501(c)(3) | Innovation Alliance Retention Completion Grant UIA Fellows 2.0" | $2,051,582 |
| Education Commission of the States | Denver, CO | 501(c)(3) | Strong Start to Finish Campaign | $1,500,000 |
| College Possible | St Paul, MN | 501(c)(3) | High School & College Programming | $1,358,800 |
| University of Wisconsin System | Madison, WI | Govt | 2018-2020 Increase System-Wide Student Math Gateway Course Completion Math Initiative | $1,056,000 |
| Achieving The Dream Inc | Silver Spring, MD | 501(c)(3) | Student Success Movement Project; Open Educational Resources Degree Initiative; Serving Tribal Colleges & Universities through Project Success | $979,868 |
| Institute for Higher Education Policy | Washington, DC | 501(c)(3) | Institute for Higher Education Policy's Impact Evaluation Component of Degrees When Due Initiative Ensuring High Quality Higher Education in Prison Programs | $962,738 |
| Aspen Institute Inc | Washington, DC | 501(c)(3) | College Excellence Program Labor Mkt Playbook Project Tackling Transfer Phase II" | $837,079 |
| National College Access Network (NCAN) | Washington, DC | 501(c)(3) | National Conference Sponsor; Sponsor Membership Renewals; Support Dues | $832,888 |
| WestEd | San Francisco, CA | Govt | Scaling Quantway and Statway Project Success Partner Grant | $653,126 |
| Teachers College | New York, NY | 501(c)(3) | Scaling Guided Pathway Reform | $596,849 |
| Excelencia in Education | Washington, DC | 501(c)(3) | Excelencia in Education's Hispanic Serving Institutions and Emerging HSIs | $550,000 |
| State of Montana | Helena, MT | Govt | College Access & Success Services | $500,000 |
| Arkansas Commmunity College | Little Rock, AR | 501(c)(3) | Improving Student Success through Holistic Student support Redesign | $450,000 |
| Council for Adult and Experimental Learning | Chicago, IL | 501(c)(3) | Adult Learner 360 Academy | $443,848 |
| State of Minnesota - Dept of Corrections | St Paul, MN | Govt | Dept of Corrections' Career & Technical Education Initiative Career Technical Education-Higher Ed in Prison State of MN Vermilion Community College- Grant: Career Ready Internship | $426,429 |
| Jobs For The Future Inc | Boston, MA | 501(c)(3) | Wisconsin Student Success Center Grant | $382,043 |
| Prison University Project Inc | San Quentin, CA | 501(c)(3) | Teaching and Learning Initiative 2018 GFE Travel Grant to Prison University Project | $321,325 |
| UW-Milwaukee | Milwaukee, WI | Govt | Dash Emergency Grant | $315,000 |
| Rand Corporation | Santa Monica, CA | 501(c)(3) | MN Dept. of Corrections Career Navigator Initiative | $299,562 |
| Boys and Girls Club of Dane County | Madison, WI | 501(c)(3) | College Ready Program; TOPS Program; 2018 Hearts for helping event; Bike Sponsorship | $293,367 |
| University of Akron | Akron, OH | Govt | Dash Emergency Grant | $262,952 |
| Research Foundation of City Univ of NY | New York, NY | 501(c)(3) | Fund Early Leading Indicators of Student Success Project | $257,242 |
| Civic Nation | Washington, DC | 501(c)(3) | College Promise Campaign Grant | $250,000 |
| National Academy of Sciences | Washington, DC | 501(c)(3) | Workshop on Understanding Success & Failure of Students in Develpt'l Math | $238,192 |
| University of Texas at Austin | Austin, TX | Govt | New Mathways Arkansas Scaling Project (Dana Center); Project Success partner | $220,677 |
| Metropolitan State University | St Paul, MN | Govt | Dash Emergency Grant | $210,000 |
| Minnesota State University-Mankato | Mankato, MN | Govt | Dash Emergency Grant | $210,000 |
| St Cloud State University | St Cloud, MN | Govt | Dash Emergency Grant | $210,000 |
| UW-Platteville | Platteville, WI | Govt | Dash Emergency Grant | $210,000 |
| Alverno College | Milwaukee, WI | 501(c)(3) | College Completion; College Ready; Dash Programs; travel grant | $197,901 |
| Vera Institute for Justice Inc | New York, NY | 501(c)(3) | Supporting the Success of the Second Chance Pell Program | $180,000 |
| Cardinal Stritch University | Milwaukee, WI | 501(c)(3) | Career Ready Internship Grants; College Completion Program; Dash Emergency Program | $167,258 |
| Milwaukee Area Technical College | Milwaukee, WI | 501(c)(3) | College Ready Grant; College Completion Program; Career Ready Internship Program | $159,930 |
| University of Arkansas-Fort Smith | Fort Smith, AR | Govt | College Completion; Dash Emergency Program | $157,420 |
| University of Toledo | Toledo, OH | 501(c)(3) | Dash Emergency Grant | $155,056 |
| Wisconsin Higher Education Aids Board (HEAB) | Madison, WI | Govt | STEM Success Scholarship Funding; Degree Project Scholarship Funding | $138,812 |
| Cleveland State University | Cleveland, OH | 501(c)(3) | Dash Emergency Grant | $132,500 |
| United Community Center | Milwaukee, WI | 501(c)(3) | Abriendo Puertas Program Grant | $130,614 |
| Milwaukee Public Schools Foundation Inc | Milwaukee, WI | 501(c)(3) | College Access Centers; Support College & Career Centers | $126,296 |
| St Catherine University | Saint Paul, MN | 501(c)(3) | Career Ready Internship Grant; Dash Emergency Program | $120,997 |
| UW-Whitewater | Whitewater, WI | Govt | Dash Emergency Grant | $120,443 |
| UW-Madison | Madison, WI | Govt | STEM Pipeline Study Scholarship | $115,982 |
| Harris-Stowe State University | St Louis, MO | Govt | Project Success Emergency Aid Program Paid Internship Program | $113,100 |
| Minneapolis Community and Technical College | Minneapolis, MN | Govt | Career Ready Internship Program | $105,819 |
| Grand View University | Des Moines, IA | 501(c)(3) | Dash Emergency Grant | $105,000 |
| Univ of Central Arkansas Foundation Inc | Conway, AR | 501 (c)(3) | Dash Emergency Grant | $105,000 |
| Scholarship America Inc | St Peter, MN | 501(c)(3) | Emergency Aid Technology Infrastructure Grant | $101,967 |
| North Dakota State University | Fargo, ND | Govt | College Completion Program, Career Ready Internship Program | $100,168 |
| Community Partners | Los Angeles, CA | 501(c)(3) | Support the Alliance of Higher Education in Prisons | $100,000 |
| National Student Clearinghouse Research Ctr | Herndon, VA | 501 (c)(3) | Enhancing the Reverse Transfer of Credit Pathway Project | $100,000 |
| Trustees of Hamline Univ of Minnesota | Saint Paul, MN | 501(c)(3) | Career Ready Internship Grant; Dash Emergency Program | $94,575 |
| UW-Green Bay | Green Bay, WI | Govt | Career Ready Internship Grant; Dash Emergency Program | $89,945 |
| Iowa Department of Education | Des Moines, IA | Govt | Planning Grant for Guided Pathways Implementation in Iowa's Community Colleges | $88,770 |
| University of Mary | Bismarck, ND | 501(c)(3) | Dash Emergency Grant | $87,509 |
| Univ of AR Community College-Batesville | Batesville, AR | Govt | College Completion Program | $85,753 |
| University of Arkansas at Pine Bluff | Pine Bluff, AR | Govt | Emergency Aid Paid Internship Programs | $83,300 |
| Lourdes University | Sylvania, OH | 501(c)(3) | Dash Emergency Grant | $81,595 |
| Lincoln University | Jefferson City, MO | Govt | Project Success Emergency Aid and Paid Internship Program | $79,477 |
| Concordia University-Saint Paul | Saint Paul, MN | 501(c)(3) | College Completion Program | $77,930 |
| Clarke State Community College Foundation | Springfield, OH | 501(c)(3) | Dash Emergency Grant for Pell Grant Recipients; College Completion | $74,286 |
| Northcentral Technical College | Wausau, WI | Govt | College Completion Program | $71,637 |
| Ohio State University | Columbus, OH | Govt | Dash Emergency Grant | $71,618 |
| Loras College | Dubuque, IA | 501(c)(3) | Career Ready Internship Grant | $70,664 |
| Dine College | Tsaile, AZ | Govt | Project Success Emergency Aid and Paid Internship Program | $69,236 |
| Bay Mills Community College | Brimley, MI | Govt | Project Success Emergency Aid and Paid Internship Program | $67,284 |
| Ohio Wesleyan University | Delaware, OH | 501(c)(3) | Dash Emergency Grant | $66,250 |
| Mercy College of Ohio | Toledo, OH | 501(c)(3) | Dash Emergency Grant | $65,859 |
| Hennepin Technical College | Brooklyn Park, MN | Govt | Career Ready Internship Program; Dash Emergency Program | $63,613 |
| Lorain County Community College | Elyria, OH | Govt | Career Ready Internship Grant; College Completion Program and Dash Emergency program | $63,025 |
| University of Northwestern-St Paul | St Paul, MN | 501(c)(3) | Career Ready Internship Grant; Dash Emergency Program | $62,474 |
| Metropolitan State University Foundation | Saint Paul, MN | 501(c)(3) | Career Ready Internship Grant | $62,029 |
| Carleton College | Northfield, MN | 501(c)(3) | Dash Emergency Program | $60,551 |
| Philander Smith College | Little Rock, AR | 501(c)(3) | Project Success Emergency Aid Paid Internship Programs | $56,368 |
| Little Priest Tribal College | Winnebago, NE | 501(c)(3) | Project Success Emergency Aid and Paid Internship Program | $55,933 |
| Carthage College | Kenosha, WI | 501(c)(3) | Career Ready Internship Grant | $55,042 |
| Friends of Saint Paul College | St Paul, MN | 501(c)(3) | College Completion Program | $51,586 |
| United Tribes Technical College | Bismark, ND | 501(c)(3) | Project Success Emergency Aid and Paid Internship Program | $50,084 |
| CWI Foundation Inc | Madison, WI | 501(c)(3) | The Be Bold 4: Workforce Recruitment & Retention Initiative | $50,000 |
| Ilisagvik College | Barrow, AK | 501(c)(3) | Project Success Paid Internship Program | $48,482 |
| Blackfeet Community College | Browning, MT | 501(c)(3) | Project Success Emergency Aid and Paid Internship Program | $48,167 |
| Southwestern Indian Polytechnic Institute | Albuquergue, NM | 501(c)(3) | Project Success Emergency Aid and Paid Internship Program | $48,167 |
| Shorter College | North Little Rock, AR | Govt | Project Success emergency Aid Paid Internship programs | $48,166 |
| Equal Measure | Philadelphia, PA | 501(c)(3) | Emergency Aid Handbook Project | $48,000 |
| Salish Kootenai College Inc | Pablo, MT | 501(c)(3) | Project Success Emergency Aid and Paid Internship Program | $47,335 |
| Upper Iowa University | Fayette, IA | 501(c)(3) | Dash Emergency Grant | $47,112 |
| Signal Vine Inc | Alendria, VA | C Corp | Summer Melt Texting Initiative | $46,920 |
| Oglala Lakota College | Kyle, SD | 501(c)(3) | Project Success Emergency Aid and Paid Internship Program | $46,100 |
| Ashland University | Ashland, OH | 501(c)(3) | Career Ready Internship Grant | $45,656 |
| Wisconsin School Counselor Assoc | Madison, WI | 501(c)(6) | 2019 WSCA Conference Scholarships for New Counselors | $45,500 |
| College of the Muscogee Nation | Okmulgee, OK | Govt | Project Success Emergency Aid and Paid Internship Program | $44,821 |
| Columbus State Community College | Columbus, OH | Govt | College Completion Program | $43,957 |
| Marquette University | Milwaukee, WI | 501(c)(3) | Career Ready Internship Grant | $43,807 |
| Union Institute & University | Cincinnati, OH | 501(c)(3) | Dash Emergency Grant | $43,050 |
| Mercy College of Health Sciences | Des Moines, IA | 501(c)(3) | Dash Emergency Grant | $42,000 |
| Mount Mary University | Milwaukee, WI | 501(c)(3) | Dash Emergency Grant | $42,000 |
| Xavier University | Cincinnati, OH | 501(c)(3) | Dash Emergency Grant | $42,000 |
| Sisseton Wahpeton College | Agency Village, SD | Govt | Project Success Emergency Aid and Paid Internship Program | $40,333 |
| Turtle Mountain Community College | Belcourt, ND | 501(c)(3) | Project Success Emergency Aid and Paid Internship Program | $39,434 |
| Aaiiih Nakoda College | Harlem, MT | 501(c)(3) | Project Success Emergency Aid and Paid Internship Programs | $38,433 |
| Little Big Horn College | Crow Agency, MT | Govt | Project Success Emergency Aid and Paid Internship Program | $38,083 |
| Waukesha County Technical College | Pewaukee, WI | Govt | Career Ready Internship Program; Dash Emergency Grant for Pell Grant Recipients and Corporate match | $36,479 |
| Central State University | Wilberforce, OH | Govt | Project Success Emergency Aid and Paid Internship Program | $36,269 |
| Edgewood College Inc | Madison, WI | 501(c)(3) | Dash Emergency Grant | $36,055 |
| Tiffin University | Tiffin, OH | 501(c)(3) | Career Ready Internship Grant | $35,845 |
| Sitting Bull College | Fort Yates, ND | 501(c)(3) | Project Success Emergency Aid and Paid Internship Program | $33,633 |
| National Park Community College | Hot Springs, AR | Govt | Career Ready Internship Program | $33,599 |
| White Earth Tribal & Community College | Mahnomen, MN | 501(c)(3) | Project Success Emergency Aid and Paid Internship Program | $33,133 |
| Lac Courte Oreilles Ojibwa Community College | Hayward, WI | 501(c)(3) | Project Success Emergency Aid and Paid Internship Program | $32,028 |
| Chief Dull Knife College | Lame Deer, MT | Govt | Project Success Emergency Aid and Paid Internship Program | $31,133 |
| Grantmakers for Education | Portland, OR | 501(c)(3) | Support Postsecondary Access & Attainment Impact Group; Conference Sponsorship | $30,900 |
| Lakeshore Technical College | Cleveland, WI | Govt | Career Ready Internship Program | $30,868 |
| MADREP Foundation | Madison, WI | 501(c)(6) | Inspire Madison Region Support | $30,000 |
| Simpson College | Indianola, IA | 501(c)(3) | Career Ready Internship Grant | $28,960 |
| School District of LaCrosse | LaCrosse, WI | Govt | Summer Melt Texting Initiative | $28,710 |
| Green Bay Area Public Schools | Green Bay, WI | Govt | Summer Melt Texting Initiative | $28,700 |
| Sheboygan Area School District | Sheboygan, WI | Govt | Summer Melt Texting Initiative | $28,680 |
| School District of Wisconsin Rapids | Wisconsin Rapids, WI | Govt | Summer Melt Texting Initiative | $28,670 |
| Racine Unified School District | Racine, WI | Govt | Summer Melt Texting InitiativE | $28,665 |
| School District of West Allis West MKE et al | West Allis, WI | Govt | Summer Melt Texting Initiative | $28,635 |
| Kent State University | Kent, OH | Govt | College Completion Grant | $27,079 |
| North Central State College | Mansfield, OH | Govt | College Completion Grant | $26,645 |
| Nebraska Indian Community College | Macy, NE | 501(c)(3) | Project Success Emergency Aid and Paid Internship Program | $26,346 |
| Northwest Indian College | Bellingham, WA | Govt | Project Success Emergency Aid and Paid Internship Program | $24,033 |
| Institute of American Indian Arts | Sante Fe, NM | 501(c)(3) | Project Success Emergency Aid and Paid Internship Program | $23,840 |
| John Carroll University | University Heights, OH | 501(c)(3) | Career Ready Internship Grant | $23,654 |
| Tohono O'Odham Community College | Sells, AZ | 501(c)(3) | Project Success Emergency Aid and Paid Internship Program | $23,633 |
| Indian Hills Community College | Ottumwa, IA | Govt | Career Ready Internship Program | $22,619 |
| Unified School Disctrict of Antigo | Antigo, WI | Govt | Summer Melt Texting Initiative | $22,180 |
| School District of South Milwaukee | South Milwaukee, WI | Govt | Summer Melt Texting Initiative | $22,100 |
| Adams-Friendship Area School District | Friendship, WI | Govt | Summer Melt Texting Initiative | $22,095 |
| St Francis School District | St Francis, WI | Govt | Summer Melt Texting Initiative | $22,095 |
| School District of Monroe | Monroe, WI | Govt | Summer Melt Texting Initiative | $22,050 |
| Watertown Unified School District | Watertown, WI | Govt | Summer Melt Texting Initiative | $22,050 |
| School District of Fort Atkinson | Fort Atkinson, WI | Govt | Summer Melt Texting Initiative | $22,040 |
| Nueta Hidatsa Sahnish College | New Town, ND | 501(c)(3) | Project Success Emergency Aid and Paid Internship Program, NCAN Travel Grant | $20,783 |
| Viterbo University | La Crosse, WI | 501(c)(3) | Career Ready Internship Grant | $20,590 |
| University of Findlay | Findlay, OH | 501(c)(3) | Career Ready Internship Grant | $19,528 |
| Leech Lake Tribal College | Cass Lake, MN | 501(c)(3) | Project Success Emergency Aid and Paid Internship Program | $19,034 |
| Fond Du Lac Tribal & Community College | St Paul, MN | Govt | Project Success Emergency Aid and Paid Internship Program | $18,834 |
| Augsburg College | Minneapolis, MN | 501(c)(3) | Career Ready Internship Grant | $18,607 |
| Clark State Community College | Springfield, OH | Govt | College Completion Program, Dash Emergency Program | $18,000 |
| Navajo Technical University | Crownpoint, MN | 501(c)(3) | Project Success Emergency Aid and Paid Internship Program | $15,100 |
| Red Lake Nation College | Red Lake, MN | 501(c)(3) | Project Success Emergency Aid and Paid Internship Program | $15,018 |
| Madison Area Tech College Foundation Inc | Madison, WI | 501(c)(3) | Dash Emergency Grant for Pell Grant Recipients | $15,000 |
| Stone Child College | Box Elder, MT | 501(c)(3) | Project Success Emergency Aid and Paid Internship Program | $14,834 |
| Wilberforce University | Wilberforce, OH | 501(c)(3) | Project Success Emergency Aid and Paid Internship Program | $13,961 |
| Keweenaw Bay Ojibwa Community College | Baraga, MI | Govt | Project Success Emergency Aid and Paid Internship Program | $13,860 |
| Fort Peck Community College | Poplar, MT | Govt | Project Success Emergency Aid Program | $13,734 |
| Notre Dame College | South Euclid, OH | 501(c)(3) | Dash Emergency Grant | $13,343 |
| Central Lakes College Foundation | Brainerd, MN | 501(c)(3) | Dash Emergency Grant for Pell Grant Recipients | $13,000 |
| Heidelberg University | Tiffin, OH | 501(c)(3) | Career Ready Internship Program; Dash Emergency Program | $12,778 |
| Normandale Community College Foundation | Bloomington, MN | 501(c)(3) | Dash Emergency Grants | $12,340 |
| Stark State College Foundation | North Canton, OH | 501(c)(3) | Dash Emergency Grant for Pell Grant Recipients | $12,000 |
| United Way of Dane County | Madison, WI | 501(c)(3) | Sponsorship of Loaned Executive | $12,000 |
| Vera Court Neighborood Center Inc | Madison, WI | 501(c)(3) | Corporate Match | $12,000 |
| Inver Hills Community College Foundation | Inver Grove Heights, MN | 501(c)(3) | Career Ready Internship Program | $11,356 |
| UW-Stevens Point | Stevens Point, WI | Govt | Career Ready Internship Grant | $10,974 |
| Sinte Gleska University | Mission, SD | 501(c)(3) | Project Success Emergency Aid Program | $10,500 |
| Cankdeska Cikana Community College | Fort Totten, ND | Govt | Project Success Emergency Aid Program | $10,300 |
| Saginaw Chippewa Tribal College | Mt Pleasant, MI | Govt | Project Success Emergency Aid Program | $10,300 |
| Association of Community College Trustees | Washington, DC | 501(c)(3) | In The Know Forum, How Boards Support and Nurture Leadership, Oct 2018 Pre-Congress Academy, The Presidential Search Process & CEO Contracts, Oct 2018 | $10,000 |
| Foundation for Madison's Public Schools Inc | Madison, WI | 501(c)(3) | "Underwriter Sponsor of Foundation for Madison's Public Schools 2018 Circle of Friends Luncheon Presenting Sponsor of Foundation for Madison's Public Schools 2018 A Principal Experience" | $10,000 |
| Eastern Gateway Community College | Steubenville, OH | Govt | Dash Emergency Grant for Pell Grant recipients | $9,790 |
| College of Menominee Nation | Keshena, WI | Govt | Project Success Emergency Aid and Paid Internship Program | $9,500 |
| Lakeland University | Plymouth, WI | 501(c)(3) | Career Ready Internship Program | $9,393 |
| Yes We Must Coalition | Wayland, MA | C Corp | 2018 Gold Level Sponsorship, 10/24-10/26/18, Austin Texas | $9,200 |
| Hennepin Tech College Foundation | Brooklyn Park, MN | 501(c)(3) | Dash Emergency Grant for Pell Grant Recipients | $9,000 |
| Northeast Wisconsin Technical College Educational | Green Bay, WI | 501(c)(3) | Dash Emergency Grant for Pell Grant Recipients | $9,000 |
| Rochester Community & Tech College | St Paul, MN | Govt | Dash Emergency Grant for Pell Grant Recipients | $9,000 |
| Iowa Western Community College | Council Bluffs, IA | 501(c)(3) | Dash Emergency Grant for Pell Grant Recipients | $7,482 |
| William Penn University | Oskaloosa, IA | 501(c)(3) | Career Ready Internship Program | $7,468 |
| UW-Eau Claire | Eau Claire, WI | Govt | Career Ready Internship Grant | $7,426 |
| Minnesota Council on Foundations | Minneapolis, MN | 501(c)(3) | Membership Investment Grant | $7,075 |
| College Goal Wisconsin | Wausau, WI | 501(c)(3) | College Goal Sunday | $6,500 |
| Wisconsin Philanthropy Network | Milwaukee, WI | 501(c)(3) | Network Membership; 2018 Corporate giving membership | $6,250 |
| Blackhawk Tech College Foundation Inc | Janesville, WI | 501(c)(3) | Dash Emergency Grant Program for Pell Grant Recipients | $6,000 |
| Lakeland Community College | Kirtland, OH | Govt | Dash Emergency Grant for Pell Grant Recipients | $6,000 |
| Mid-State Technical College Foundation Inc | Wisconsin Rapids, WI | 501(c)(3) | Dash Emergency Grant for Pell Grant Recipients | $6,000 |
| Pine Technical & Community College | Pine City, MN | Govt | Dash Emergency Grant for Pell Grant Recipients | $6,000 |
| South Central College North Mankato Campus Foundtn | North Mankato, MN | 501(c)(3) | Dash Emergency Grant for Pell Grant Recipients | $6,000 |
| Southwest Wisconsin Technical College | Fennimore, WI | Govt | Dash Emergency Grant for Pell Grant Recipients | $6,000 |
| Zane State College | Zanesville, OH | Govt | Dash Emergency Grant for Pell Grant Recipients | $6,000 |
| Council for Opportunity in Education | Washington, DC | 501(c)(3) | Sponsorship of Annual Conference | $5,985 |
| Hawkeye Community College Foundation | Waterloo, IA | 501(c)(3) | Dash Emergency Grant for Pell Grant Recipients | $5,651 |
| Philanthropy Ohio | Columbus, OH | 501(c)(3) | Philanthropy Ohio 2018 Membership Renewal, Corporate Giving Program | $5,576 |
| Defiance College | Defiance, OH | 501(c)(3) | Career Ready Internship Program | $5,506 |
| Chippewa Valley Tech College FoundationInc | Eau Claire, WI | 501(c)(3) | Dash Emergency Grant for Pell Grant Receipients | $5,444 |
| Building Brave Inc | Madison, WI | C Corp | College Confidence Project | $5,100 |
Fundraising, Events, and Gaming
- Fundraising activities
- No
- Gaming activities
- No
- Professional fundraiser used
- No
Fundraising and Gaming Totals
| Line Item | Amount |
|---|---|
| Fundraising Direct Expenses | $0 |
| Fundraising Gross Income | $0 |
| Gaming Direct Expenses | $0 |
| Gaming Gross Income | $0 |
| Professional Fundraising Fees | $0 |
Political and Lobbying Activity
- Political campaign activity
- No
- Lobbying activity
- No
- Subject to proxy tax
- No
Insider Transactions and Loans
Interested-Person Transactions
| Interested Party | Relationship | Description | Shared Revenue | Amount |
|---|---|---|---|---|
| Great Lakes Educational Loan Svcs | Contrl Ent/officer Overlap | GLHEGC Bldg Rent to GLELSI | No | $649,208 |
| Great Lakes Educational Loan Svcs | Contrl Ent/officer Overlap | Intercompany Reimb. to GLELSI | No | $632,111 |
| Great Lakes Educational Loan Svcs | Contrl Ent/officer Overlap | GLHEGC Grant of Funds to GLELS | No | $51,330 |
Loans and Receivables
| Line Item | Beginning | End | Change |
|---|---|---|---|
| Loans from Officers, Directors, Trustees, and Key Employees | $0 | $0 | → $0 |
| Receivables from Disqualified Persons | $0 | $0 | → $0 |
| Receivables from Officers, Directors, Trustees, and Key Employees | $0 | $0 | → $0 |
Debt and Bond Financing
Other Reported Liabilities
| Liability | Amount |
|---|---|
| Reserve-default Aversion Fees | $21,645,793 |
| Intercompany & Misc. Payables | $3,123,237 |
Governance and Compliance
Governance Checklist
- Compiled or reviewed by an accountant
- No
- Annual disclosure for covered persons
- Yes
- Audit committee
- Yes
- Business relationship with family members
- No
- Business relationship with organization members
- No
- Material changes to governing documents
- Yes
- Compensation from other sources disclosed
- No
- CEO compensation reviewed
- Yes
- Other officer compensation reviewed
- Yes
- Conflict-of-interest policy
- Yes
- Audited financial statements prepared
- Yes
- Key decisions subject to board approval
- Yes
- Management duties delegated
- No
Governance Explanations
Form 990, Part VI, Question 6 & 7A
“Ascendium Education Group Inc.(GROUP), a nonprofit 501(c)(3) corporation, is the sole member of Ascendium Education Solutions, Inc. (SOLUTIONS). By authority granted in SOLUTIONS's adopted Articles of Incorporation, GROUP as the sole member, appoints SOLUTIONS's Board members.”
Form 990, Part VI, Question 7B
“Ascendium Education Group, Inc. (GROUP), a nonprofit 501(c)(3) corporation, as sole member of Ascendium Education Solutions, Inc.(SOLUTIONS), has the authority provided by Wis. Stats. Chapter 181 to approve certain actions related to merger, conversion, sale of assets and dissolution.”
Form 990, Part VI, Question 11B
“On an annual basis, the Chairman of the Board, President and CEO, the Audit Committee and Board review the Form 990 prior to filing. The conflicts of interest questionnaires are completed by each director and reviewed prior to filing the Form 990.”
Form 990, Part VI, Question 12C
“Annually, directors and officers sign a conflict of interest document which discloses any conflicts. The signed documents are reviewed annually by the chairman of the board. If a disclosed conflict occurs, the individual abstains from discussion and voting on topics where a conflict of interest exists. All directors, officers and employees are subject to the Human Resources Code of Ethics to maintain the highest ethical and legal standards of business conduct.”
Form 990, Part VI, Question 15A & 15B
“The compensation of the ceo and all of the officers is determined annually by the personnel policy committee of the board of directors. The ceo is routinely excused and abstains from discussion and/or voting on any matters related to his own compensation and benefits. The personnel policy committee's report is submitted to the board of directors for approval. The decisions are documented in the board minutes. Every two to three years, an independent compensation study is performed.”
Form 990, Part VII, Section A, Line 1A
“(1) Directors normally attend 3-4 board meetings and 3-4 committee meetings per year in addition to telephonic conferences and individual meetings with officers. Directors devote an average of 1-3 hours per week to their position(s). (2) Inside directors are not eligible for Board compensation. (3) Non-operating officer position not separately compensated.”
Form 990, Part VI, Question 19
“Federal law does not require that such documents be made publicy available. Documents are available upon specific request.”
Part VI, Section A, Line 4
“The articles of incorporation were revised to reflect the change in name from great lakes higher education corporation to ascendium education group, inc. (ascendium). Additionally, all references were updated from great lakes higher education guaranty corporation to ascendium education solutions, inc. And referenced the amended and restated bylaws for the conditions of membership. The initial board of director's names was removed. The principal office was modified to 2501 international lane madison, wi 53704. The registered agent was updated from anton ketterer to patricia kingston, and the address to the registered agent was updated to 2501 international lane, madison, wi 53704. Ascendium revised the bylaws of the organization to reflect the change in name from great lakes higher education corporation to ascendium education group, inc. Additionally, all references were updated from great lakes higher education guaranty corporation to ascendium education solutions, inc. The bylaws also added a provision that no director may be elected or re-elected for a term which commences on or after their 78th birthday and the following committees: personnel, policy, and investment. Lastly, the bylaws added a vice chairman and allowed the vice chairmen to preside over board meeting in the chairman's absence. The fiscal year of the corporation was modified from september 30 to december 31.”
Filing and Contact Details
Filer
- Filer Name
- Ascendium Education Solutions Inc
- EIN
- 39-1853833
- In Care Of
- % HOPE MERRY
- Phone
- 6087332559
- Address
- 2501 International Lane, Madison, WI 53704
Signing Officer
- Name
- Richard George
- Title
- President & CEO
- Phone
- 6087332516
- Signed
- 2019-08-28
Organization Details
- Principal Officer
- Richard George
- Formed
- 1996
- Legal Domicile
- Wi
- Voting Board Members
- 7
- Independent Board Members
- 6
- Employees
- 241
- Volunteers
- 0
Preparer
- Firm
- Ernst & Young US Llp
- Address
- 155 N Wacker Drive, Chicago, IL 60606
- Preparer
- Jacob Zehnder
- Phone
- 3128792000
Supplemental Narrative
Additional Explanations
Form 990, Part IX, Line 24B
“Allocated expenses include salaries, fringe benefits, supplies and services allocated from Ascendium Education Group, Inc. (GROUP) for management and administrative services, the GROUP/GLELSI agreement expenses for guaranty service activities, technology support and administrative support. GLELSI was sold February 2018.”
Form 990, Part XI, Line 9
“Operating fund contribution transfer to Ascendium Education Group, Inc.(Related Company) in the amount of $100,000,000.”
Financial Statement Notes
Form 990, Part IV, Line 9 and Schedule D, Part IV
“One aspect of the full-range guaranty services is to provide collection assistance to lenders for delinquent loans. This includes contacting the borrower to attempt to restore the loan to a current status through various options. This contact also involves educating and/or counseling borrowers. In addition, Ascendium Education Solutions, Inc. provides direct support of personal financial management education, financial aid awareness and college access initiatives, and guidance and counsel on consolidation loans and loan rehabilitation under the Federal Higher Education Act of 1965, as amended.”
Schedule D, Part IV, Line 1B
“Custodial account: ascendium education solutions, inc.(solutions) conducts activity related to the guarantee of student loans made to post-secondary education students and to their parents in accordance with the federal family education loan program (program) established by title iv, part b of the federal higher education act of 1965, as amended, and the administration of certain net assets of the program. The higher education amendments of 1998 (1998 amendments) were enacted on october 7, 1998, with an effective date of october 1, 1998. Pursuant to the 1998 amendments, solutions established a federal student loan reserve fund (fslrf) to account for program activities. The fslrf assets and earnings on those assets are the property of the federal government. Since the fslrf assets are the property of the united states government, the accounts and activities of the fslrf are not included in the solutions form 990, part x. Solutions exercises the level of care required of a fiduciary charged with the duty of protecting, investing and administering these assets.”
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| IRS990/Form990PartVIISectionAGrp/PersonNm | 6 | Richard D George 23 |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 7 | Hope Merry |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 8 | Jeffery Crosby 3 |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 9 | Rebecca Rapp 3 |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 10 | Maureen Harrill |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 11 | Amy Kobishop 3 |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 12 | Brian Kobishop |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 13 | Jacqueline Fairbairn 3 |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 14 | Beth Erickson 3 |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 15 | Jason Rasmussen |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 16 | Barbara Wilhelm |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 17 | Kira Cortese |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 18 | Ellen Welke |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 19 | Kristi Myers |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 0 | 5917 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 1 | 3550 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 2 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 3 | 4875 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 4 | 10875 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 5 | 3550 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 6 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 7 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 8 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 9 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 10 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 11 | 269476 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 12 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 13 | 269789 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 14 | 275364 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 15 | 156315 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 16 | 150308 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 17 | 127469 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 18 | 121331 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 19 | 119570 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 0 | 11833 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 1 | 14200 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 2 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 3 | 4875 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 4 | 10875 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 5 | 14200 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 6 | 846087 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 7 | 317206 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 8 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 9 | 262753 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 10 | 67054 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 11 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 12 | 124576 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 13 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 14 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 15 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 16 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 17 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 18 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 19 | 0 |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 0 | Director |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 1 | Director |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 2 | Director/Secretary |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 3 | Director |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 4 | Director |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 5 | Director |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 6 | Chair/Pres/CEO/Treas |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 7 | Chief Financial Officer |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 8 | Chief Operating Officer |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 9 | Gen Cnsl & Asst Secretary |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 10 | VP - Human Resources |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 11 | VP - Community Investments |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 12 | VP - IT/Security/Logistics |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 13 | VP - Guaranty Services & Suppo |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 14 | VP - Repayment Solutions |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 15 | Dir. - Strategic Communication |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 16 | Dir. - Claims Review |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 17 | Creative Director |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 18 | Dir. - Default Collections |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 19 | Systems Integration Analyst |
| IRS990/Form990ProvidedToGvrnBodyInd | 0 | true |
| IRS990/Form990TFiledInd | 0 | true |
| IRS990/FormationYr | 0 | 1996 |
| IRS990/FormerOfcrEmployeesListedInd | 0 | false |
| IRS990/FSAuditedBasisGrp/ConsolidatedBasisFinclStmtInd | 0 | X |
| IRS990/FSAuditedInd | 0 | true |
| IRS990/FundraisingActivitiesInd | 0 | false |
| IRS990/FundraisingDirectExpensesAmt | 0 | 0 |
| IRS990/FundraisingGrossIncomeAmt | 0 | 0 |
| IRS990/GainOrLossGrp/OtherAmt | 0 | 9 |
| IRS990/GamingActivitiesInd | 0 | false |
| IRS990/GamingDirectExpensesAmt | 0 | 0 |
| IRS990/GamingGrossIncomeAmt | 0 | 0 |
| IRS990/GoverningBodyVotingMembersCnt | 0 | 7 |
| IRS990/GrantAmt | 0 | 38945804 |
| IRS990/GrantsPayableGrp/BOYAmt | 0 | 0 |
| IRS990/GrantsPayableGrp/EOYAmt | 0 | 0 |
| IRS990/GrantsToDomesticIndividualsGrp/ProgramServicesAmt | 0 | 2026835 |
| IRS990/GrantsToDomesticIndividualsGrp/TotalAmt | 0 | 2026835 |
| IRS990/GrantsToDomesticOrgsGrp/ProgramServicesAmt | 0 | 36911094 |
| IRS990/GrantsToDomesticOrgsGrp/TotalAmt | 0 | 36911094 |
| IRS990/GrantsToIndividualsInd | 0 | true |
| IRS990/GrantsToOrganizationsInd | 0 | true |
| IRS990/GrantToRelatedPersonInd | 0 | false |
| IRS990/GrossAmountSalesAssetsGrp/OtherAmt | 0 | 9 |
| IRS990/GrossReceiptsAmt | 0 | 222804138 |
| IRS990/GrossSalesOfInventoryAmt | 0 | 0 |
| IRS990/GroupReturnForAffiliatesInd | 0 | false |
| IRS990/IncludeFIN48FootnoteInd | 0 | false |
| IRS990/IncmFromInvestBondProceedsGrp/TotalRevenueColumnAmt | 0 | 0 |
| IRS990/IndependentAuditFinclStmtInd | 0 | false |
| IRS990/IndependentVotingMemberCnt | 0 | 6 |
| IRS990/IndivRcvdGreaterThan100KCnt | 0 | 15 |
| IRS990/IndoorTanningServicesInd | 0 | false |
| IRS990/InfoInScheduleOPartIIIInd | 0 | X |
| IRS990/InfoInScheduleOPartIXInd | 0 | X |
| IRS990/InfoInScheduleOPartVIInd | 0 | X |
| IRS990/InfoInScheduleOPartXIInd | 0 | X |
| IRS990/InfoInScheduleOPartXInd | 0 | X |
| IRS990/InformationTechnologyGrp/TotalAmt | 0 | 0 |
| IRS990/InsuranceGrp/ProgramServicesAmt | 0 | 7279 |
| IRS990/InsuranceGrp/TotalAmt | 0 | 7279 |
| IRS990/IntangibleAssetsGrp/BOYAmt | 0 | 0 |
| IRS990/IntangibleAssetsGrp/EOYAmt | 0 | 0 |
| IRS990/InterestGrp/TotalAmt | 0 | 0 |
| IRS990/InventoriesForSaleOrUseGrp/BOYAmt | 0 | 0 |
| IRS990/InventoriesForSaleOrUseGrp/EOYAmt | 0 | 0 |
| IRS990/InvestmentIncomeGrp/ExclusionAmt | 0 | 9782834 |
| IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt | 0 | 9782834 |
| IRS990/InvestmentInJointVentureInd | 0 | false |
| IRS990/InvestmentsOtherSecuritiesGrp/BOYAmt | 0 | 0 |
| IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt | 0 | 0 |
| IRS990/InvestmentsProgramRelatedGrp/BOYAmt | 0 | 0 |
| IRS990/InvestmentsProgramRelatedGrp/EOYAmt | 0 | 0 |
| IRS990/InvestmentsPubTradedSecGrp/BOYAmt | 0 | 214509610 |
| IRS990/InvestmentsPubTradedSecGrp/EOYAmt | 0 | 148496510 |
| IRS990/IRPDocumentCnt | 0 | 76863 |
| IRS990/IRPDocumentW2GCnt | 0 | 0 |
| IRS990/LandBldgEquipAccumDeprecAmt | 0 | 329767 |
| IRS990/LandBldgEquipBasisNetGrp/BOYAmt | 0 | 77565 |
| IRS990/LandBldgEquipBasisNetGrp/EOYAmt | 0 | 32452 |
| IRS990/LandBldgEquipCostOrOtherBssAmt | 0 | 362219 |
| IRS990/LegalDomicileStateCd | 0 | WI |
| IRS990/LoanOutstandingInd | 0 | false |
| IRS990/LoansFromOfficersDirectorsGrp/BOYAmt | 0 | 0 |
| IRS990/LoansFromOfficersDirectorsGrp/EOYAmt | 0 | 0 |
| IRS990/LobbyingActivitiesInd | 0 | false |
| IRS990/LocalChaptersInd | 0 | false |
| IRS990/MaterialDiversionOrMisuseInd | 0 | false |
| IRS990/MembersOrStockholdersInd | 0 | true |
| IRS990/MethodOfAccountingAccrualInd | 0 | X |
| IRS990/MinutesOfCommitteesInd | 0 | true |
| IRS990/MinutesOfGoverningBodyInd | 0 | true |
| IRS990/MissionDesc | 0 | ASCENDIUM EDUCATION SOLUTIONS, INC. OPERATES TO PROVIDE FOR PHILANTHROPIC SUPPORT AND COST EFFECTIVE ENABLEMENT OF ACCESS TO AND PERSISTENCE IN POST-SECONDARY EDUCATION BY PROVIDING FULL-RANGE GUARANTY AGENCY SERVICES AND GRANT SUPPORT TO FUNDING SOURCES, EDUCATIONAL INSTITUTIONS, CHARITABLE ORGANIZATIONS, AND OTHERS TO BROADEN FEDERALLY GUARANTEED LOAN AVAILABILITY AND PURSUIT OF AND PARTICIPATION IN POST-SECONDARY EDUCATION IN ACCORDANCE WITH THE FEDERAL HIGHER EDUCATION ACT OF 1965, AS AMENDED. THIS MISSION STATEMENT HAS BEEN REVIEWED, ACKNOWLEDGED AND INFORMALLY APPROVED BY THE BOARD. |
| IRS990/MoreThan5000KToIndividualsInd | 0 | false |
| IRS990/MoreThan5000KToOrgInd | 0 | false |
| IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt | 0 | 0 |
| IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt | 0 | 0 |
| IRS990/NetAssetsOrFundBalancesBOYAmt | 0 | 629778324 |
| IRS990/NetAssetsOrFundBalancesEOYAmt | 0 | 621004994 |
| IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt | 0 | 9 |
| IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt | 0 | 9 |
| IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt | 0 | 0 |
| IRS990/NetIncomeFromGamingGrp/TotalRevenueColumnAmt | 0 | 0 |
| IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt | 0 | 0 |
| IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt | 0 | 0 |
| IRS990/NetUnrelatedBusTxblIncmAmt | 0 | 51197 |
| IRS990/NetUnrlzdGainsLossesInvstAmt | 0 | 987747 |
| IRS990/NondeductibleContributionsInd | 0 | false |
| IRS990/OccupancyGrp/ProgramServicesAmt | 0 | 867355 |
| IRS990/OccupancyGrp/TotalAmt | 0 | 867355 |
| IRS990/OfficeExpensesGrp/ProgramServicesAmt | 0 | 1242772 |
| IRS990/OfficeExpensesGrp/TotalAmt | 0 | 1242772 |
| IRS990/OfficerMailingAddressInd | 0 | false |
| IRS990/OperateHospitalInd | 0 | false |
| IRS990/Organization501c3Ind | 0 | X |
| IRS990/OrganizationFollowsSFAS117Ind | 0 | X |
| IRS990/OtherAssetsTotalGrp/BOYAmt | 0 | 38853413 |
| IRS990/OtherAssetsTotalGrp/EOYAmt | 0 | 16752303 |
| IRS990/OtherChangesInNetAssetsAmt | 0 | -100000000 |
| IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt | 0 | 34473 |
| IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt | 0 | 1811638 |
| IRS990/OtherEmployeeBenefitsGrp/TotalAmt | 0 | 1846111 |
| IRS990/OtherExpensesGrp/Desc | 0 | COLLECTION FEES |
| IRS990/OtherExpensesGrp/Desc | 1 | CORP SUPPORT FUNC ALLOCATION |
| IRS990/OtherExpensesGrp/Desc | 2 | ICSAC CONTRACT EXPENSE |
| IRS990/OtherExpensesGrp/Desc | 3 | MDHE CONTRACT EXPENSE |
| IRS990/OtherExpensesGrp/ManagementAndGeneralAmt | 0 | 23528881 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 0 | 48011228 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 1 | -10449851 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 2 | 5026243 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 3 | 2836689 |
| IRS990/OtherExpensesGrp/TotalAmt | 0 | 48011228 |
| IRS990/OtherExpensesGrp/TotalAmt | 1 | 13079030 |
| IRS990/OtherExpensesGrp/TotalAmt | 2 | 5026243 |
| IRS990/OtherExpensesGrp/TotalAmt | 3 | 2836689 |
| IRS990/OtherLiabilitiesGrp/BOYAmt | 0 | 29163571 |
| IRS990/OtherLiabilitiesGrp/EOYAmt | 0 | 24769030 |
| IRS990/OtherRevenueMiscGrp/BusinessCd | 0 | 900099 |
| IRS990/OtherRevenueMiscGrp/BusinessCd | 1 | 900099 |
| IRS990/OtherRevenueMiscGrp/BusinessCd | 2 | 900099 |
| IRS990/OtherRevenueMiscGrp/Desc | 0 | GLHEGC/MDHE CONTRACT |
| IRS990/OtherRevenueMiscGrp/Desc | 1 | DISCOUNT REHAB LOANS |
| IRS990/OtherRevenueMiscGrp/Desc | 2 | ALL OTHER MISCELLANEOUS REVENUE |
| IRS990/OtherRevenueMiscGrp/ExclusionAmt | 0 | 8146538 |
| IRS990/OtherRevenueMiscGrp/ExclusionAmt | 1 | 63523 |
| IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt | 0 | 902026 |
| IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt | 0 | 8146538 |
| IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt | 1 | 902026 |
| IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt | 2 | 63523 |
| IRS990/OtherRevenueTotalAmt | 0 | 9112087 |
| IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt | 0 | 195180 |
| IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt | 0 | 11712934 |
| IRS990/OtherSalariesAndWagesGrp/TotalAmt | 0 | 11908114 |
| IRS990/OthNotesLoansReceivableNetGrp/BOYAmt | 0 | 0 |
| IRS990/OthNotesLoansReceivableNetGrp/EOYAmt | 0 | 0 |
| IRS990/PartialLiquidationInd | 0 | false |
| IRS990/PaymentsToAffiliatesGrp/TotalAmt | 0 | 0 |
| IRS990/PayPremiumsPrsnlBnftCntrctInd | 0 | false |
| IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt | 0 | 14107 |
| IRS990/PayrollTaxesGrp/ProgramServicesAmt | 0 | 786822 |
| IRS990/PayrollTaxesGrp/TotalAmt | 0 | 800929 |
| IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt | 0 | 17236 |
| IRS990/PensionPlanContributionsGrp/ProgramServicesAmt | 0 | 924032 |
| IRS990/PensionPlanContributionsGrp/TotalAmt | 0 | 941268 |
| IRS990/PermanentlyRstrNetAssetsGrp/BOYAmt | 0 | 0 |
Document Assets
No mirrored PDF or thumbnail assets are attached yet.
Filings
Displayed year
2018 • Form 990Detailed filing. Detailed filing data is available for this year.
- Assets
- $663,920,334
- Liabilities
- $42,915,340
- Net assets
- $621,004,994
- Revenue
- $222,804,138
- Expenses
- $132,565,215
- Net income
- $90,238,923