Nonprofit · EIN 41-1990628
ECMC FOUNDATION
Tax-exempt · MINNEAPOLIS, MN 55401
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $82,572,335 | $76,633,109 | $5,939,226 | $1,951,301,209 | $49,924,373 | $1,901,376,836 |
| December 31, 2023 | 990 | $58,219,618 | $65,662,081 | -$7,442,463 | $1,698,761,256 | $38,678,777 | $1,660,082,479 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $82,935,000
- Program service revenue
- $0
- Investment income
- -$362,945
- Net gain from sales of assets
- -$862,440
- Other revenue
- $280
Expenses
- Grants and similar amounts paid
- $60,616,872
- Compensation of officers, directors and key employees
- $915,447
- Other salaries and wages
- $6,581,195
- Salaries, compensation and benefits (total)
- $8,919,637
- Professional fundraising fees
- $0
- Legal fees
- $109,978
- Accounting fees
- $47,114
- Occupancy
- $716,977
- Travel
- $782,844
- Depreciation
- $174,461
- Program services (functional)
- $68,856,249
- Management and general (functional)
- $7,776,860
Balance sheet and other
- Total assets, start of year
- $1,698,761,256
- Total assets, end of year
- $1,951,301,209
- Total liabilities, end of year
- $49,924,373
- Net assets, end of year
- $1,901,376,836
- Land, buildings and equipment
- $191,259
- Net assets without donor restrictions
- $1,901,376,836
- Gross receipts
- $83,434,775
- Employees
- 29
- Volunteers
- 0
- Year formed
- 2000
- State of legal domicile
- DE
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| DANIEL FISHER | PRESIDENT & CEO, ECMC GROUP Trustee or director | 0 | $0 | $1,373,427 | $130,325 |
| MARTIN SCANLON | CFO & TREASURER Officer | 0 | $0 | $903,005 | $108,170 |
| JACOB FRAIRE | PRESIDENT, ECMC FOUNDATION Officer | 40 | $599,858 | $0 | $66,416 |
| BRIAN BOARDMAN | GENERAL COUNSEL & CORP SECRETARY Officer | 0 | $0 | $520,510 | $91,781 |
| LYNN ALVAREZ | VP, FDN PROGRAMS & STRATEGY-THRU 8/2 Officer | 40 | $217,353 | $0 | $31,820 |
| JESSICA HASELTON | MANAGING DIRECTOR Highest-paid employee | 40 | $190,506 | $0 | $56,119 |
| JENNIFER ZEISLER | SR DIR, PROGRAM MANAGEMENT Highest-paid employee | 40 | $208,014 | $0 | $28,765 |
| SARAH BELNICK | SR DIR, PROGRAM MANAGEMENT Highest-paid employee | 40 | $202,677 | $0 | $26,667 |
| JAMES V MCKEON | BOARD CHAIR Trustee or director | 2 | $0 | $197,500 | $0 |
| LORAINE PARK | DIR, LEARNING & EVALUATION-THRU 11/22 Highest-paid employee | 40 | $152,723 | $0 | $44,331 |
| STEPHEN HANDEL | CHIEF OF STAFF, FOUNDATION Highest-paid employee | 40 | $164,867 | $0 | $16,093 |
| JULIA S GOUW | DIRECTOR Trustee or director | 1 | $0 | $155,000 | $0 |
| DIANA J INGRAM | DIRECTOR Trustee or director | 1 | $0 | $151,250 | $0 |
| K PAUL SINGH | DIRECTOR Trustee or director | 1 | $0 | $145,000 | $0 |
| JENNIFER ANDERSON | DIRECTOR Trustee or director | 1 | $0 | $138,750 | $0 |
6 more people on this return
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| JACK O'CONNELL | DIRECTOR Trustee or director | 2 | $0 | $135,000 | $0 |
| JAMES RUNCIE | DIRECTOR Trustee or director | 1 | $0 | $135,000 | $0 |
| DEREK LANGHAUSER | DIRECTOR Trustee or director | 2 | $0 | $127,500 | $0 |
| JOHN F DEPODESTA | FORMER BOARD CHAIR Former | 0 | $0 | $60,000 | $0 |
| PETER TAYLOR | FORMER PRESIDENT, ECMC FOUNDATION Former | 0 | $41,750 | $0 | $7,484 |
| JEREMY WHEATON | FORMER PRESIDENT & CEO, ECMC GROUP Former | 0 | $0 | $19,539 | $0 |
990 for the year ended December 31, 2023: 22 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| JEREMY WHEATON | FORMER PRESIDENT & CEO, ECMC GROUP Former | 0 | $0 | $1,622,127 | $0 |
| DANIEL FISHER | PRESIDENT & CEO, ECMC GROUP Trustee or director | 0 | $0 | $1,268,659 | $126,730 |
| MARTIN SCANLON | CFO & TREASURER Officer | 0 | $0 | $918,311 | $104,819 |
| PETER TAYLOR | PRESIDENT, ECMC FOUNDATION-PART YEAR Trustee or director, Officer | 40 | $447,382 | $0 | $128,763 |
| BRIAN BOARDMAN | GENERAL COUNSEL & CORP SECRETARY Officer | 0 | $0 | $453,655 | $86,354 |
| JACOB FRAIRE | PRESIDENT, ECMC FOUNDATION Officer | 40 | $433,420 | $0 | $62,410 |
| LYNN ALVAREZ | VP, FOUNDATION PROGRAMS & STRATEGY Officer | 40 | $324,967 | $0 | $55,604 |
| JENNIFER ZEISLER | SENIOR DIR, PROGRAM MANAGEMENT Highest-paid employee | 40 | $202,400 | $0 | $35,769 |
| JESSICA HASELTON | DIR, EDUCATION INNOVATION VENTURES Highest-paid employee | 40 | $175,243 | $0 | $54,804 |
| SARAH BELNICK | SENIOR DIR, PROGRAM MANAGEMENT Highest-paid employee | 40 | $181,697 | $0 | $44,458 |
| JOANNA ROSENTHAL | DIR, COMMUNICATIONS Highest-paid employee | 40 | $186,076 | $0 | $29,014 |
| JAMES V MCKEON | BOARD CHAIR Trustee or director | 2 | $0 | $197,500 | $0 |
| LORAINE PARK | DIR, LEARNING & EVALUATION Highest-paid employee | 40 | $143,397 | $0 | $45,268 |
| JULIA S GOUW | DIRECTOR Trustee or director | 2 | $0 | $155,000 | $0 |
| DIANA J INGRAM | DIRECTOR Trustee or director | 2 | $0 | $151,250 | $0 |
| JENNIFER ANDERSON | DIRECTOR Trustee or director | 2 | $0 | $148,750 | $0 |
| JACK O'CONNELL | DIRECTOR Trustee or director | 2 | $0 | $145,000 | $0 |
| K PAUL SINGH | DIRECTOR Trustee or director | 2 | $0 | $141,875 | $0 |
| DEREK LANGHAUSER | DIRECTOR Trustee or director | 2 | $0 | $137,500 | $0 |
| JAMES RUNCIE | DIRECTOR Trustee or director | 1 | $0 | $128,750 | $0 |
| JOHN F DEPODESTA | FORMER BOARD CHAIR Former | 0 | $0 | $60,000 | $0 |
| I KING JORDAN | FORMER DIRECTOR Former | 0 | $0 | $30,000 | $0 |
Address and contacts
- Address (IRS master file)
- 111 WASHINGTON AVE S1400, MINNEAPOLIS, MN 55401-0000
- Principal officer (990 for 2024)
- JACOB FRAIRE, 111 WASHINGTON AVE SO 1400, MINNEAPOLIS, MN 55401
- Signed the 990
- MARTIN A SCANLON, CFO & TREASURER
- Phone
- (651) 221-0566
- Website
- WWW.ECMCFOUNDATION.ORG
- Return prepared by
- KPMG LLP
Mission
ECMC FOUNDATION IS A NATIONALLY FOCUSED FOUNDATION WHOSE MISSION IS TO IMPROVE HIGHER EDUCATION FOR CAREER SUCCESS AMONG UNDERSERVED POPULATIONS THROUGH EVIDENCE-BASED INNOVATION.
Program accomplishments
- STRATEGIC GRANTMAKING:GUIDED BY ECMC FOUNDATION'S STRATEGIC FRAMEWORK, COMMITMENT TO SYSTEMIC CHANGE AND NORTH STAR GOAL, THE FOUNDATION LEVERAGES TWO MAIN GRANTMAKING STRATEGIES-INITIATIVES AND STRATEGICALLY RESPONSIVE-BOTH OF WHICH CONTAIN SEVERAL PORTFOLIOS. INITIATIVES ARE FOCUSED ON ADDRESSING STUDENTS' BASIC NEEDS, ELEVATING CAREER & TECHNICAL EDUCATION LEADERSHIP, IMPROVING THE IMPACT OF HIGHER EDUCATION AMONG UNDERSERVED POPULATIONS, AND STRENGTHENING TRANSFER PATHWAYS AND CREDIT MOBILITY. EACH INITIATIVE HAS A THEORY OF ACTION AND LEARNING AND EVALUATION FRAMEWORK AND IS GUIDED BY ALIGNED ACTIVITIES, ARTICULATED TIMEFRAMES AND EARMARKED BUDGETS. THROUGH A DIVERSE PORTFOLIO OF GRANTS SUPPORTING MULTIPLE POPULATIONS, GEOGRAPHIES AND INTERVENTIONS, THE STRATEGICALLY RESPONSIVE STRATEGY ENABLES ECMC FOUNDATION TO LISTEN TO THE NEEDS AND OPPORTUNITIES IDENTIFIED BY APPLICANTS, GRANTEES, PEER FUNDERS AND SUBJECT MATTER EXPERTS; LEARN ABOUT EMERGING TRENDS; AND LEVERAGE FOUNDATION RESOURCES TO ADVANCE THE POSTSECONDARY FIELD. IN 2024, ECMC FOUNDATION AWARDED 71 STRATEGICALLY RESPONSIVE GRANTS AND 65 INITIATIVE GRANTS.Expenses $62,574,192 · grants $55,414,372
- EMPLOYEE ENGAGEMENT:ECMC FOUNDATION FACILITATES TWO MAIN OPPORTUNITIES-A GENERATING OUTCOMES (GO!) PROGRAM AND A DISCRETIONARY GRANT PROGRAM-FOR STAFF AND LEADERSHIP ACROSS ECMC GROUP TO FEEL CONNECTED TO ECMC FOUNDATION'S PHILANTHROPIC MISSION. THE GO! PROGRAM IS A CORPORATE INITIATIVE TO FUND EFFORTS IN THE COMMUNITIES WHERE ECMC GROUP, INC. EMPLOYEES LIVE AND WORK. IN 2024, ECMC FOUNDATION AWARDED GRANTS RANGING FROM $5,000 TO $20,000 EACH TO 111 ORGANIZATIONS FOR A TOTAL OF OVER $1 MILLION. THE DISCRETIONARY GRANT PROGRAM PROVIDES THE BOARD OF DIRECTORS, ECMC GROUP EXECUTIVE AND SENIOR LEADERS, AND FOUNDATION STAFF THE OPPORTUNITY TO DIRECT A GIFT TO AN EDUCATIONAL ORGANIZATION OF THEIR CHOICE.Expenses $5,122,500 · grants $5,122,500
- EDUCATION INNOVATION VENTURES:EDUCATION INNOVATION VENTURES (EIV) MAKES BELOW-MARKET-RATE INVESTMENTS INTO NONPROFIT AND FOR-PROFIT VENTURES THAT SEEK TO GENERATE BOTH SOCIAL IMPACT AND FINANCIAL RETURNS. COMPLEMENTING ECMC FOUNDATION'S STRATEGIC GRANTMAKING, THE EIV PROGRAM USES A FULL SPECTRUM OF PROGRAM-RELATED INVESTMENTS, INCLUDING DEBT AND EQUITY INSTRUMENTS, TO PROVIDE CATALYTIC RISK CAPITAL TO EARLY-STAGE VENTURES WORKING TO INCREASE POSTSECONDARY EDUCATIONAL OUTCOMES AND ECONOMIC MOBILITY AMONG LEARNERS AND JOBSEEKERS FROM SYSTEMICALLY DISADVANTAGED BACKGROUNDS. FINANCIAL RETURNS ARE REINVESTED INTO ADDITIONAL PROGRAM-RELATED INVESTMENTS, ALLOWING ECMC FOUNDATION TO RECYCLE INVESTMENT DOLLARS TO FUND FURTHER IMPACT INITIATIVES. IN 2024, EIV INVESTED OVER $4.1 MILLION ACROSS 9 INVESTMENTS WORKING TO REMOVE FINANCIAL BARRIERS FOR STUDENTS, AND AWARDED 3 GRANTS.Expenses $1,159,557 · grants $80,000
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 41-1990628
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Supporting organization (509(a)(3))
- Donations deductible (Pub 78)
- Supporting organization of unknown type
- Exempt since
- 2001
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Education (B02)
- Assets (IRS master file)
- $1,951,301,209
- Income (IRS master file)
- $83,434,775
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $82,572,335 | $76,633,109 | $1,951,301,209 | IRS |
| 990 | December 2023 | $58,219,618 | $65,662,081 | $1,698,761,256 | XML |
| 990 | December 2022 | $501,684,291 | $46,971,911 | $1,575,921,479 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
| 990 | December 2017 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 41-1990628).
Questions about ECMC FOUNDATION
- What is the EIN of ECMC FOUNDATION?
- The employer identification number (EIN) of ECMC FOUNDATION is 41-1990628.
- Is ECMC FOUNDATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2001.
- Are donations to ECMC FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Supporting organization of unknown type).
- Which annual return does ECMC FOUNDATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of ECMC FOUNDATION due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did ECMC FOUNDATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of ECMC FOUNDATION?
- The 990 for the year ended December 31, 2024 names JACOB FRAIRE.
- Who are the officers and directors of ECMC FOUNDATION?
- The 990 for the year ended December 31, 2024 lists 21 people; 8 received compensation from the organization.
- How much revenue does ECMC FOUNDATION have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $82,572,335, expenses of $76,633,109 and total assets of $1,951,301,209 at year end.
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