Liabilities / Assets
87th percentile
Higher debt load relative to assets than 87% of similar nonprofits.
Ascendium Education Solutions Inc.
990 • Fiscal year 2019 • EIN 39-1853833
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
0.86x
Liabilities / Revenue
45th percentile
Higher debt load relative to revenue than 45% of similar nonprofits.
Net Margin
91st percentile
Higher net margin than 91% of similar nonprofits.
Top Officer Pay
56th percentile
Higher top officer pay than 56% of similar nonprofits.
Top officer pay equals 0.2% of source-year revenue.
Asset Growth
1st percentile
Faster asset growth than 1% of similar nonprofits.
Revenue Growth
98th percentile
Faster revenue growth than 98% of similar nonprofits.
Balance Sheet
Assets
Down$284,705,811
Down $379,214,523 (-57%) from 2018
Net Assets
Down$40,113,612
Down $580,891,382 (-94%) from 2018
Liabilities
Up$244,592,199
Up $201,676,859 (+470%) from 2018
Revenue And Expenses
Revenue
Up$511,268,683
Up $288,464,545 (+129%) from 2018
Expenses
Up$319,237,947
Up $186,672,732 (+141%) from 2018
Net Income
Up$192,030,736
Up $101,791,813 (+113%) from 2018
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jan 1, 2019 to Dec 31, 2019
- Signed
- Aug 29, 2020
- Return Version
- 2019v5.1
- Gross Receipts
- $511,268,682
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, financial counselling and related services to support student loan availability.
Balance Sheet Detail
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Savings and Temporary Cash Investments | $488,959,618 | $158,092,097 | ▼ $330,867,521 |
| Intangible Assets | $0 | $106,000,000 | ▲ $106,000,000 |
| Accounts Receivable | $5,514,279 | $8,651,340 | ▲ $3,137,061 |
| Prepaid Expenses and Deferred Charges | $1,852,589 | $3,552,250 | ▲ $1,699,661 |
| Investments in Publicly Traded Securities | $148,496,510 | $130,000 | ▼ $148,366,510 |
| Cash and Non-Interest-Bearing Accounts | $2,312,583 | $54,202 | ▼ $2,258,381 |
| Land, Buildings, and Equipment, Net | $32,452 | $22,730 | ▼ $9,722 |
| 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 |
| Inventories for Sale or Use | $0 | $0 | → $0 |
| Loans From Officers Directors | $0 | $0 | → $0 |
| Total Assets | $663,920,334 | $284,705,811 | ▼ $379,214,523 |
| Other Assets Total | $16,752,303 | $8,203,192 | ▼ $8,549,111 |
| Liabilities | |||
| Other Liabilities | $24,769,030 | $196,631,798 | ▲ $171,862,768 |
| Grants Payable | $0 | $22,506,274 | ▲ $22,506,274 |
| Deferred Revenue | $4,665,971 | $14,520,565 | ▲ $9,854,594 |
| Accounts Payable and Accrued Expenses | $13,480,339 | $10,933,562 | ▼ $2,546,777 |
| 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 | $42,915,340 | $244,592,199 | ▲ $201,676,859 |
| Net Assets / Fund Balance | |||
| Net Assets Without Donor Restrictions | $621,004,994 | $40,113,612 | ▼ $580,891,382 |
| Net Assets With Donor Restrictions | $0 | $0 | → $0 |
| Total Net Assets Fund Balance | $621,004,994 | $40,113,612 | ▼ $580,891,382 |
| Total Liabilities and Net Assets / Fund Balance | $663,920,334 | $284,705,811 | ▼ $379,214,523 |
Asset Categories
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Equipment | $16,757 | $290,579 | $307,336 |
| Other Land Buildings | $5,973 | $77 | $6,050 |
Compensation and Service Providers
Employees
| Name | Title | Full / Part Time | Base | Other | Total |
|---|---|---|---|---|---|
| Richard D George 2 | Chair/Pres/CEO/Treas | PT | - | $996,196 | $996,196 |
| Jacqueline Fairbairn | VP-Policy/Comp/Claims/Collect | FT | $273,454 | $53,480 | $326,934 |
| Jacqueline Fairbairn 3 | VP-Policy/Comp/Claims/Collect | - | $140,587 | $186,347 | $326,934 |
| Beth Erickson 3 | VP - Repayment Solutions | FT | $145,980 | $163,982 | $309,962 |
| Amy Kobishop 3 | VP - Education Philanthropy | FT | $139,892 | $158,077 | $297,969 |
| Barbara Wilhelm 3 | Director Claims Review | FT | $150,104 | $39,171 | $189,275 |
| Rebecca Villarreal 3 | Director Education Grantmaking | FT | $162,618 | $17,346 | $179,964 |
| Jeffrey Dick 3 | Systems Analyst | FT | $145,698 | $30,853 | $176,551 |
| Jason Rasmusen 3 | Director Strategic Comm | FT | $113,080 | $60,555 | $173,635 |
| Kira Cortese 3 | Creative Director | FT | $120,722 | $40,821 | $161,543 |
| Cynthia Walsh 1 | Director | - | $21,750 | - | $21,750 |
| Richard A Weiss 1 | Director | - | $6,583 | $13,167 | $19,750 |
| Thomas A Scarlett 1 | Director | - | $17,750 | - | $17,750 |
| Mary Burke 1 | Director | - | $5,917 | $11,833 | $17,750 |
| Emerson Brumback 1 | Director | - | $5,875 | $7,875 | $13,750 |
Board Members and Trustees
| Name | Title |
|---|---|
| Richard D George 23 | Chair/Pres/CEO/Treas |
| Matt Harlowe 3 | Director Internal Audit |
| David J Hanson 1 | Director/Secretary |
| Hope Merry 3 | Chief Financial Officer |
| Jeff Crosby 3 | Chief Operating Officer |
| Rebecca Rapp 3 | Gen Cnsl, Chief Priv Ofc & Ass |
| Maureen Harrill 3 | VP - Human Resources |
| Brian Kobishop 3 | VP - IT/Security/Logistics |
Revenue and Support
Revenue Composition
- Contributions and Grants
- $0
- Program Service Revenue
- $487,441,800
- Investment Income
- $14,999,085
- Other Revenue
- $8,827,798
- Change in Net Assets
- $192,030,736
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Other Expenses | $186,996,642 |
| Grants and Similar Amounts Paid | $113,866,692 |
| Salaries, Compensation, and Employee Benefits | $18,374,613 |
| Professional Fundraising Fees | $0 |
| Total Fundraising Expense | $0 |
Functional Expense Allocation
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Grants to Domestic Orgs | $112,858,458 | - | - | $112,858,458 |
| All Other Expenses | $15,074,182 | - | - | $15,074,182 |
| Other Salaries and Wages | $12,661,778 | $214,480 | - | $12,876,258 |
| Depreciation Depletion | $5,685,392 | - | - | $5,685,392 |
| Other Expenses | $3,390,239 | $29,004,008 | - | $3,390,239 |
| Other Employee Benefits | $2,290,178 | $45,116 | - | $2,335,294 |
| Office Expenses | $1,301,981 | - | - | $1,301,981 |
| Current Officers, Directors, Trustees, and Key Employees | $1,120,293 | $65,029 | - | $1,185,322 |
| Pension Plan Contributions | $1,041,806 | $16,962 | - | $1,058,768 |
| Grants to Domestic Individuals | $1,008,234 | - | - | $1,008,234 |
| Payroll Taxes | $903,992 | $14,979 | - | $918,971 |
| Occupancy | $891,627 | - | - | $891,627 |
| Fees for Services Other | $678,756 | - | - | $678,756 |
| Travel | $349,140 | $11,992 | - | $361,132 |
| Fees for Services Accounting | - | $212,567 | - | $212,567 |
| Conferences and Meetings | $189,602 | - | - | $189,602 |
| Fees for Services Legal | - | $177,518 | - | $177,518 |
| Advertising | $138,312 | - | - | $138,312 |
| Insurance | $7,279 | - | - | $7,279 |
| Total Functional Expenses | $289,475,296 | $29,762,651 | $0 | $319,237,947 |
International Activity
Grant and Assistance Recipients
| Recipient | Location | Category | Purpose | Amount |
|---|---|---|---|---|
| Strada Education Network Inc | Indianapolis, IN | 501(c)3 | support their philanthropic efforts pursuant to the December 6, 2016 transfer of ownership of United Student Aid Funds and Northwest Education Loan Association from USA Funds (now Strada) to Ascendium. | $87,120,164 |
| Education Commission of the States | Denver, CO | 501(c)(3) | Strong Start to Finish Implementation & Innovation Fund | $2,875,000 |
| Mdrc | New York, NY | 501(c)(3) | College Promise Initiative; Multiple measures assessment Phase II Project; Evaluation of 15-18 CRI. Encouraging additional summer enrollment program; Applying the Evidence: Expanding Evidence-Based Strategies Across the Minnesota State System; Piloting an Income Share Agreement that Serves Low-Income Students | $1,813,695 |
| Institute for Higher Education Policy | Washington, DC | 501(c)(3) | Degrees When Due Initiative; Ensuring High Quality Higher Education in Prison Programs | $1,480,793 |
| AZ Board of Regents on behalf of AZ State Univ | Tempe, AZ | 501(c)(3) | Feasibility Testing with a clear and affordable path to a bachelor's degree by combining the scalability of an online learning environment with local supports. | $1,280,626 |
| Aspen Institute Inc | Washington, DC | 501(c)(3) | Strengthening Guided Pathways through Workforce Tackling Transfer Phase II Justice Convening at Aspen | $1,188,600 |
| Institute for Evidence Based Change | Long Beach, CA | 501(c)(3) | Implementing and Evaluating Caring Campus Faculty Engagement | $1,074,648 |
| University of Wisconsin System | Madison, WI | 501(c)(3) | Math Initiative | $867,000 |
| Association of American Colleges & Universities | Washington, DC | 501(c)(3) | Strengthening Completion Pathways and Ensuring Students are Learning | $866,939 |
| Iowa Department of Education | Des Moines, IA | Ia Doe | Guided Pathways Implementation in Iowa's Community Colleges Optimizing Delivery Systems for Higher Education in Prison | $799,712 |
| Arizona State Univ Foundatn for a New American Uni | Tempe, AZ | 501(c)(3) | Innovation Alliance Retention Completion Grant UIA Fellows 2.0" | $744,666 |
| University of Texas at Austin | Austin, TX | 501(c)(3) | Moving Mathematics Pathways to Normative Practice in Arkansas; Project Success partner | $718,489 |
| Teachers College | New York, NY | 501(c)(3) | Scaling Guided Pathway Reform; Sponsored Practitioner Fellowships | $712,775 |
| Community Partners | Los Angeles, CA | 501(c)(3) | Higher Education in Prison Landscape Project Alliance for Higher Education in Prison Capacity Building | $640,000 |
| College Possible | St Paul, MN | 501(c)(3) | Milwaukee & Minnesota:High School & College Programming | $570,000 |
| State of Minnesota | St Paul, MN | STate of MN | Career Technical Education-Higher Ed in Prison Career Navigator Initiative - MNDOC | $549,028 |
| Achieving The Dream Inc | Silver Spring, MD | 501(c)(3) | Student Success Partner Grant Grant, Coaching Model Transformation Sponsored Practitioner Fellowships | $548,463 |
| American Assoc of State Colleges and Universities | Washington, DC | 501(c)3 | Academic Affairs Summer 2019 Meeting Provosts Student Success Network | $530,950 |
| Jobs For The Future Inc | Boston, MA | 501(c)(3) | Wisconsin Student Success Center Grant | $517,957 |
| State of Montana | Helena, MT | state of mt | College Access & Success Services | $500,000 |
| Kent State University Foundation Inc | Kent, OH | 501(c)(3) | Development of a Statewide Comprehensive Transfer Blueprint | $402,618 |
| Council for Adult and Experimental Learning | Chicago, IL | 501(c)(3) | Adult Learner 360 Academy - Hispanic Serving Institutions | $402,596 |
| Prison University Project Inc | San Quentin, CA | 501(c)(3) | Teaching and Learning Initiative | $319,550 |
| Team Pennsylvania Foundation | Harrisburg, PA | 501(c)3 | Next Generation Sector Partnerships National Benchmarking & Rural Affinity Group | $306,075 |
| Thread Inc | Baltimore, MD | 501(c)3 | Creating Postsecondary Pathways for Thread Students | $277,000 |
| Association of Public and Land-Grant Universities | Washington, DC | 501(c)3 | Fellows Program Pilot | $255,473 |
| National College Attainment Network | Washington, DC | 501(c)3 | FAFSA Completion Challenge;2019 NCAN Membership Grant - Supporting Level 2;Text Steps Summer Melt Texting 2019 NCAN National Conference | $235,605 |
| Madison Metropolitan School District | Madison, WI | State of WI | Early College STEM Academy | $225,000 |
| Boys and Girls Club of Dane County | Madison, WI | 501(c)(3) | TOPS Program; 2019 Hearts for helping event | $222,515 |
| Arkansas Commmunity College | Little Rock, AR | 501(c)(3) | Improving Student Success through Holistic Student support Redesign | $200,000 |
| Board of Regents of UW System | Madison, WI | 501(c)(3) | Emergency Dash Grant | $150,000 |
| Research Foundation of City Univ of NY | New York, NY | 501(c)(3) | Optimizing Delivery Systems for Higher Education in Prison | $150,000 |
| Rand Corporation | Santa Monica, CA | 501(c)(3) | MN DOC Evaluation Career Navigator Initiative | $135,834 |
| Dine College | Tsaile, AZ | 501(c)(3) | Project Success Emergency Aid and Paid Internship Program | $126,964 |
| Navajo Technical University | Crownpoint, MN | 501(c)(3) | Project Success Emergency Aid and Paid Internship Program | $116,722 |
| United Way of Dane County | Madison, WI | 501(c)(3) | Sponsorship of Loaned Executive, Corporate Contribution | $112,000 |
| National Academy of Sciences | Washington, DC | 501(c)(3) | Workshop on Understanding Success and Failure of Students in Developmental Mathematics | $106,055 |
| St Cloud State University | St Cloud, MN | 501(c)(3) | Dash Emergency Grant | $100,000 |
| UW-Platteville | Platteville, WI | 501(c)(3) | Emergency Dash Grant | $100,000 |
| University of Arkansas at Pine Bluff | Pine Bluff, AR | 501(c)(3) | Emergency Aid Paid Internship Programs | $98,243 |
| Harris-Stowe State University | St Louis, MO | 501(c)(3) | Project Success Emergency Aid Program Paid Internship Program | $96,608 |
| Salish Kootenai College Inc | Pablo, MT | 501(c)(3) | Project Success Emergency Aid and Paid Internship Program; GFE Travel Grant | $95,827 |
| Yes We Must Coalition | Wayland, MA | 501(c)(3) | Building college-employer partnerships | $95,000 |
| Northwest Indian College | Bellingham, WA | 501(c)(3) | Project Success Emergency Aid and Paid Internship Program | $91,835 |
| Central State University | Wilberforce, OH | 501(c)(3) | Paid Internship Program | $89,996 |
| Excelencia in Education | Washington, DC | 501(c)(3) | Latino Success; sponsorship - 15yr Anniversary; Sponsor and Convening - Excelencia in Education | $88,800 |
| Second Chance Educational Alliance | Hartford, CT | 501(c)3 | Optimizing Delivery Systems for Higher Education in Prison Evaluation | $87,500 |
| Grantmakers for Education | Portland, OR | 501(c)(3) | 2019 GFE Grant, Grant & Conference Sponsorship | $86,500 |
| Bay Mills Community College | Brimley, MI | 501(c)(3) | Project Success Emergency Aid and Paid Internship Program | $86,133 |
| University of Toledo | Toledo, OH | 501(c)(3) | Dash Emergency Grant | $83,614 |
| Lincoln University | Jefferson City, MO | 501(c)(3) | Project Success Emergency Aid and Paid Internship Program | $83,533 |
| Leech Lake Tribal College | Cass Lake, MN | 501(c)(3) | Project Success Emergency Aid and Paid Internship Program; ATD Dream Conference 2019 - Concurrent Session | $81,780 |
| Stone Child College | Box Elder, MT | 501(c)(3) | Project Success Emergency Aid and Paid Internship Program | $78,615 |
| WestEd | San Francisco, CA | Irc 115(1) | Project Success Partner Grant | $74,877 |
| Lac Courte Oreilles Ojibwa Community College | Hayward, WI | 501(c)(3) | Project Success Emergency Aid and Paid Internship Program | $73,951 |
| Cardinal Stritch University | Milwaukee, WI | 501(c)(3) | College Completion Program; Dash Emergency Program and Career Ready Internship program | $68,571 |
| White Earth Tribal & Community College | Mahnomen, MN | 501(c)(3) | Project Success Emergency Aid and Paid Internship Program | $68,333 |
| Oglala Lakota College | Kyle, SD | 501(c)(3) | Project Success Emergency Aid and Paid Internship Program | $68,047 |
| Alverno College | Milwaukee, WI | 501(c)(3) | College Completion; College Ready; Dash Programs | $67,506 |
| Southwestern Indian Polytechnic Institute | Albuquergue, NM | 501(c)(3) | Project Success Emergency Aid and Paid Internship Program | $63,666 |
| Keweenaw Bay Ojibwa Community College | Baraga, MI | 501(c)(3) | Project Success Emergency Aid and Paid Internship Program | $63,556 |
| University of Arkansas-Fort Smith | Fort Smith, AR | 501(c)(3) | College Completion; Dash Emergency Program | $63,397 |
| Philander Smith College | Little Rock, AR | 501(c)(3) | Project Success Emergency Aid Paid Internship Programs | $60,130 |
| Red Lake Nation College | Red Lake, MN | 501(c)(3) | Project Success Emergency Aid and Paid Internship Program | $59,654 |
| Fond Du Lac Tribal & Community College | St Paul, MN | 501(c)(3) | Project Success Emergency Aid and Paid Internship Program | $56,452 |
| Nebraska Indian Community College | Macy, NE | 501(c)(3) | Project Success Emergency Aid and Paid Internship Program | $54,347 |
| Carleton College | Northfield, MN | 501(c)(3) | Dash Emergency Grant | $51,554 |
| Metropolitan State University | Saint Paul, MN | 501(c)(3) | Emergency Dash Grant | $51,487 |
| Little Priest Tribal College | Winnebago, NE | 501(c)(3) | Project Success Emergency Aid and Paid Internship Program | $51,133 |
| Education Finance Instutute | New York, NY | 501(c)(3) | Development and Validation of a Compelling Income Share Program | $50,000 |
| Grand View University | Des Moines, IA | 501(c)(3) | Dash Emergency Grant | $50,000 |
| R Street Institute | Wasinngton, DC | 501(c)(3) | Rural Post-Secondary Education Project | $50,000 |
| Institute of American Indian Arts | Sante Fe, NM | 501(c)(3) | Project Success Emergency Aid and Paid Internship Program | $49,563 |
| United Tribes Technical College | Bismark, ND | 501(c)(3) | Project Success Emergency Aid and Paid Internship Program | $49,030 |
| Sisseton Wahpeton College | Agency Village, SD | 501(c)(3) | Project Success Emergency Aid and Paid Internship Program | $48,014 |
| North Central State College | Mansfield, OH | 501(c)(3) | College Completion Grant | $46,715 |
| Blackfeet Community College | Browning, MT | 501(c)(3) | Project Success Emergency Aid and Paid Internship Program | $44,141 |
| University of Mary | Bismarck, ND | 501(c)(3) | Dash Emergency Grant | $42,158 |
| North Dakota State University | Fargo, ND | 501(c)(3) | College Completion Program | $40,338 |
| Shorter College | North Little Rock, AR | 501(c)(3) | Project Success emergency Aid Paid Internship programs | $39,848 |
| Aaniiih Nakoda College | Harlem, MT | 501(c)(3) | Project Success Emergency Aid and Paid Internship Programs | $39,833 |
| Turtle Mountain Community College | Belcourt, ND | 501(c)(3) | Project Success Emergency Aid and Paid Internship Program | $38,945 |
| Little Big Horn College | Crow Agency, MT | 501(c)(3) | Project Success Emergency Aid and Paid Internship Program | $38,883 |
| Sitting Bull College | Fort Yates, ND | 501(c)(3) | Project Success Emergency Aid and Paid Internship Program | $38,633 |
| Clark State Community College | Springfield, OH | 501(c)(3) | College Completion Program | $37,588 |
| Ohio Wesleyan University | Delaware, OH | 501(c)(3) | Emergency Dash Grant | $37,500 |
| Trustees of Hamline Univ of Minnesota | Saint Paul, MN | 501(c)(3) | Dash Emergency Grant | $37,500 |
| Wilberforce University | Wilberforce, OH | 501(c)(3) | Project Success Paid Internship Program | $37,178 |
| Univ of AR Community College-Batesville | Batesville, AR | 501(c)(3) | College Completion Program | $34,330 |
| Milwaukee Area Technical College | Milwaukee, WI | 501(c)(3) | College Ready Program | $34,000 |
| St Catherine University | Saint Paul, MN | 501(c)(3) | Career Ready Internship Program Grant; Dash Emergency Program | $32,609 |
| Friends of Saint Paul College | St Paul, MN | 501(c)(3) | College Completion Program | $32,460 |
| Concordia University-Saint Paul | Saint Paul, MN | 501(c)(3) | College Completion Program | $32,200 |
| Notre Dame College | South Euclid, OH | 501(c)(3) | Dash Emergency Grant | $30,923 |
| Chief Dull Knife College | Lame Deer, MT | 501(c)(3) | Emergency Aid and Paid Internship Program | $30,300 |
| Tohono O'Odham Community College | Sells, AZ | 501(c)(3) | Project Success Emergency Aid and Paid Internship Program | $30,238 |
| Mercy College of Ohio | Toledo, OH | 501(c)(3) | Dash Emergency Grant | $30,031 |
| Kent State University | Kent, OH | 501(c)(3) | College Completion Grant | $28,900 |
| Northcentral Technical College | Wausau, WI | 501(c)(3) | College Completion Program | $28,874 |
| Lorain County Community College | Elyria, OH | 501(c)(3) | College Completion Program | $28,729 |
| College of the Muscogee Nation | Okmulgee, OK | 501(c)(3) | Project Success Emergency Aid and Paid Internship Program | $27,966 |
| Ilisagvik College | Barrow, AK | 501(c)(3) | Project Success Paid Internship Program | $27,884 |
| Columbus State Community College | Columbus, OH | 501(c)(3) | College Completion Program | $27,267 |
| GSV Summit | Chicago, IL | 501(c)3 | Practitioner Fellowship Sponsor Fellowship | $25,000 |
| Ohio State University | Columbus, OH | 501(c)(3) | Dash Emergency Grant | $24,803 |
| Mount Mary University | Milwaukee, WI | 501(c)(3) | Dash Emergency Grant | $24,000 |
| Heidelberg University | Tiffin, OH | 501(c)(3) | Dash Emergency Program | $23,766 |
| Nueta Hidatsa Sahnish College | New Town, ND | 501(c)(3) | Emergency Aid Program Project Success Paid Internship Program | $22,697 |
| Cleveland State University | Cleveland, OH | 501(c)(3) | Dash Emergency Grant | $22,648 |
| Lourdes University | Sylvania, OH | 501(c)(3) | Dash Emergency Grant | $21,420 |
| Mercy College of Health Sciences | Des Moines, IA | 501(c)(3) | Dash Emergency Grant | $20,000 |
| UW-Whitewater | Whitewater, WI | 501(c)(3) | Dash Emergency Grant | $20,000 |
| Xavier University | Cincinnati, OH | 501(c)(3) | Dash Emergency Grant | $20,000 |
| College of Menominee Nation | Keshena, WI | 501(c)(3) | Emergency Aid | $19,067 |
| Grantmakers for Effective Organizations | Washington, DC | 501(c)3 | 2019 Membership Contribution | $14,000 |
| UW-Green Bay | Green Bay, WI | 501(c)(3) | Career Ready Internship Grant; dash emergency program | $13,837 |
| Fort Peck Community College | Poplar, MT | 501(c)(3) | Project Success Emergency Aid Program | $13,733 |
| University of Northwestern-St Paul | St Paul, MN | 501(c)(3) | Dash Emergency Grant Program | $12,120 |
| United Way of Central Indiana | Indianapolis, IN | 501(c)3 | Corporate Contribution | $12,000 |
| United Way of Northeastern South Dakota Inc | Aberdeen, SD | - | Corporate Contribution | $12,000 |
| Vera Court Neighborood Center Inc | Madison, WI | 501(c)(3) | Corporate Matching Grant | $12,000 |
| Wisconsin Philanthropy Network | Milwaukee, WI | 501(c)(3) | 2019 membership renewal; Lead Sponsorship, 2019 Statewide Conference | $11,250 |
| Union Institute & University | Cincinnati, OH | 501(c)(3) | Dash Emergency Grant | $10,784 |
| Sagniaw Chippewa Indian Tribe of Michigan | Mount Pleasant, MI | 501(c)3 | Emergency Aid | $10,300 |
| Credit Abuse Resistance Education | Alexandria, VA | 501(c)3 | Ascendium Cares Donation | $10,000 |
| Scholarship America Inc | St Peter, MN | 501(c)(3) | Emergency Aid | $9,100 |
| Richmond Promise | Richmond, CA | 501(c)3 | PromiseNet 2019 - Sponsorship Opportunity | $8,800 |
| Council for Opportunity in Education | Washington, DC | 501(c)(3) | Sponsorship of 2019's Educational Opportunity | $8,275 |
| Sinte Gleska University | Mission, SD | 501(c)(3) | Project Success Emergency Aid Program | $7,252 |
| Minnesota Council on Foundations | Minneapolis, MN | 501(c)(3) | 2019 Membership Dues | $7,075 |
| Greater Twin Cities United Way | Minneapolis, MN | 501(c)3 | Corporate Contribution | $6,000 |
| Philanthropy Ohio | Columbus, OH | 501(c)(3) | Membership Philanthropy Ohio 2019 | $5,458 |
| Cankdeska Cikana Community College | Fort Totten, ND | 501(c)(3) | Project Success Emergency Aid Program | $5,197 |
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
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 |
|---|---|
| Contingent Affil Consideration Liability | $139,996,558 |
| Reserve-default Aversion Fees | $42,301,064 |
| Intercompany & Misc. Payables | $14,334,176 |
Governance and Compliance
Governance Checklist
- Compiled or reviewed by an accountant
- No
- Annual disclosure for covered persons
- Yes
- Audit committee
- Yes
- Business relationship with 35% controlled entity
- No
- Business relationship with family members
- No
- Business relationship with organization members
- No
- Material changes to governing documents
- No
- 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.”
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
- 2020-08-29
Organization Details
- Principal Officer
- Richard George
- Formed
- 1996
- Legal Domicile
- Wi
- Voting Board Members
- 7
- Independent Board Members
- 6
- Employees
- 234
- 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
“Costs are charged to the applicable managing area and then further allocated to supporting services and programs that each area supports. Costs are allocated to supporting services and programs based on estimates made by management, taking into account the nature of the expense and how it relates to the functional areas. Costs are typically allocated based on resources used or time and effort. 2019 allocations made from Ascendium Education Group, Inc. to Ascendium Education Solutions, Inc. are as follows: Ascendium Education Solutions, Inc. 28,349,862”
Form 990, Part XI, Line 9
“Operating fund contribution transfer to ($950,000,000) Ascendium Education Group, Inc. Guarantor reserve from USAF and NELA $175,444,281 ______________ Total ($774,555,719)”
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.”
Raw XML AppendixShowing 400 of 2,227 raw XML fields
This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.
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| IRS990/Form990PartVIISectionAGrp/TitleTxt | 8 | VP - IT/Security/Logistics |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 9 | Director Internal Audit |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 10 | Director Claims Review |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 11 | Director Education Grantmaking |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 12 | Systems Analyst |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 13 | Director Strategic Comm |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 14 | Creative Director |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 15 | Director |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 16 | Director |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 17 | Director |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 18 | Director |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 19 | Director |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 20 | Director/Secretary |
| 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 | -19652 |
| IRS990/GamingActivitiesInd | 0 | false |
| IRS990/GamingDirectExpensesAmt | 0 | 0 |
| IRS990/GamingGrossIncomeAmt | 0 | 0 |
| IRS990/GoverningBodyVotingMembersCnt | 0 | 7 |
| IRS990/GrantAmt | 0 | 113866692 |
| IRS990/GrantsPayableGrp/BOYAmt | 0 | 0 |
| IRS990/GrantsPayableGrp/EOYAmt | 0 | 22506274 |
| IRS990/GrantsToDomesticIndividualsGrp/ProgramServicesAmt | 0 | 1008234 |
| IRS990/GrantsToDomesticIndividualsGrp/TotalAmt | 0 | 1008234 |
| IRS990/GrantsToDomesticOrgsGrp/ProgramServicesAmt | 0 | 112858458 |
| IRS990/GrantsToDomesticOrgsGrp/TotalAmt | 0 | 112858458 |
| IRS990/GrantsToIndividualsInd | 0 | true |
| IRS990/GrantsToOrganizationsInd | 0 | true |
| IRS990/GrantToRelatedPersonInd | 0 | false |
| IRS990/GrossAmountSalesAssetsGrp/OtherAmt | 0 | 201124 |
| IRS990/GrossReceiptsAmt | 0 | 511268682 |
| 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 | 22 |
| IRS990/IndoorTanningServicesInd | 0 | false |
| IRS990/InfoInScheduleOPartIIIInd | 0 | X |
| IRS990/InfoInScheduleOPartIXInd | 0 | X |
| IRS990/InfoInScheduleOPartVIIInd | 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 | 106000000 |
| IRS990/InterestGrp/TotalAmt | 0 | 0 |
| IRS990/InventoriesForSaleOrUseGrp/BOYAmt | 0 | 0 |
| IRS990/InventoriesForSaleOrUseGrp/EOYAmt | 0 | 0 |
| IRS990/InvestmentIncomeGrp/ExclusionAmt | 0 | 15018737 |
| IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt | 0 | 15018737 |
| 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 | 148496510 |
| IRS990/InvestmentsPubTradedSecGrp/EOYAmt | 0 | 130000 |
| IRS990/IRPDocumentCnt | 0 | 84349 |
| IRS990/IRPDocumentW2GCnt | 0 | 0 |
| IRS990/LandBldgEquipAccumDeprecAmt | 0 | 290656 |
| IRS990/LandBldgEquipBasisNetGrp/BOYAmt | 0 | 32452 |
| IRS990/LandBldgEquipBasisNetGrp/EOYAmt | 0 | 22730 |
| IRS990/LandBldgEquipCostOrOtherBssAmt | 0 | 313386 |
| IRS990/LegalDomicileStateCd | 0 | WI |
| IRS990/LessCostOthBasisSalesExpnssGrp/OtherAmt | 0 | 220776 |
| 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 | 621004994 |
| IRS990/NetAssetsOrFundBalancesEOYAmt | 0 | 40113612 |
| IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt | 0 | -19652 |
| IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt | 0 | -19652 |
| IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt | 0 | 0 |
| IRS990/NetIncomeFromGamingGrp/TotalRevenueColumnAmt | 0 | 0 |
| IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt | 0 | 0 |
| IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt | 0 | 0 |
| IRS990/NetUnrlzdGainsLossesInvstAmt | 0 | 1633601 |
| IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt | 0 | 621004994 |
| IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt | 0 | 40113612 |
| IRS990/NondeductibleContributionsInd | 0 | false |
| IRS990/OccupancyGrp/ProgramServicesAmt | 0 | 891627 |
| IRS990/OccupancyGrp/TotalAmt | 0 | 891627 |
| IRS990/OfficeExpensesGrp/ProgramServicesAmt | 0 | 1301981 |
| IRS990/OfficeExpensesGrp/TotalAmt | 0 | 1301981 |
| IRS990/OfficerMailingAddressInd | 0 | false |
| IRS990/OperateHospitalInd | 0 | false |
| IRS990/Organization501c3Ind | 0 | X |
| IRS990/OrganizationFollowsFASB117Ind | 0 | X |
| IRS990/OtherAssetsTotalGrp/BOYAmt | 0 | 16752303 |
| IRS990/OtherAssetsTotalGrp/EOYAmt | 0 | 8203192 |
| IRS990/OtherChangesInNetAssetsAmt | 0 | -774555719 |
| IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt | 0 | 45116 |
| IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt | 0 | 2290178 |
| IRS990/OtherEmployeeBenefitsGrp/TotalAmt | 0 | 2335294 |
| 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 | 29004008 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 0 | 125941437 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 1 | -654146 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 2 | 4596756 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 3 | 3390239 |
| IRS990/OtherExpensesGrp/TotalAmt | 0 | 125941437 |
| IRS990/OtherExpensesGrp/TotalAmt | 1 | 28349862 |
| IRS990/OtherExpensesGrp/TotalAmt | 2 | 4596756 |
| IRS990/OtherExpensesGrp/TotalAmt | 3 | 3390239 |
| IRS990/OtherLiabilitiesGrp/BOYAmt | 0 | 24769030 |
| IRS990/OtherLiabilitiesGrp/EOYAmt | 0 | 196631798 |
| IRS990/OtherRevenueMiscGrp/BusinessCd | 0 | 900099 |
| IRS990/OtherRevenueMiscGrp/BusinessCd | 1 | 900099 |
| IRS990/OtherRevenueMiscGrp/Desc | 0 | GLHEGC/MDHE CONTRACT |
| IRS990/OtherRevenueMiscGrp/Desc | 1 | ALL OTHER MISCELLANEOUS REVENUE |
| IRS990/OtherRevenueMiscGrp/ExclusionAmt | 0 | 8811063 |
| IRS990/OtherRevenueMiscGrp/ExclusionAmt | 1 | 16735 |
| IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt | 0 | 8811063 |
| IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt | 1 | 16735 |
| IRS990/OtherRevenueTotalAmt | 0 | 8827798 |
| IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt | 0 | 214480 |
| IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt | 0 | 12661778 |
| IRS990/OtherSalariesAndWagesGrp/TotalAmt | 0 | 12876258 |
| IRS990/OthNotesLoansReceivableNetGrp/BOYAmt | 0 | 0 |
| IRS990/OthNotesLoansReceivableNetGrp/EOYAmt | 0 | 0 |
Document Assets
No mirrored PDF or thumbnail assets are attached yet.
Filings
Displayed year
2019 • Form 990Detailed filing. Detailed filing data is available for this year.
- Assets
- $284,705,811
- Liabilities
- $244,592,199
- Net assets
- $40,113,612
- Revenue
- $511,268,683
- Expenses
- $319,237,947
- Net income
- $192,030,736