Ascendium Education Group Inc
- Assets
- $3.0b
- Revenue
- $78.4m
- Investments
- $1.7b
- Employees
- 117
- Location
- Madison, WI
- Founding
- 11/1967
- Data as of
- 12/2023
- EIN
- 39-1090394
Organization Overview
Ascendium Education Group Inc is located in Madison, WI. The organization was established in 1967. According to its NTEE Classification (B40) the organization is classified as: Higher Education, under the broad grouping of Education and related organizations. As of 12/2023, Ascendium Education Group Inc employed 117 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ascendium Education Group Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Ascendium Education Group Inc generated $78.4m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 19.1% each year . All expenses for the organization totaled $12.5m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
ASCENDIUM EDUCATION GROUP, INC. OPERATES FOR THE SUPPORT AND BENEFIT OF ASCENDIUM EDUCATION SOLUTIONS, INC.
Describe the Organization's Program Activity:
IMPACT INVESTING IS ONE OF THE KEY WAYS WE ACCOMPLISH OUR MISSION TO CHAMPION OPPORTUNITY FOR EVERYONE. OUR INVESTMENTS ADVANCE CHANGE TO POSTSECONDARY EDUCATION AND WORKFORCE TRAINING SYSTEMS THROUGH NEW TECHNOLOGIES AND SOLUTIONS SO MORE LEARNERS CAN ACHIEVE THEIR ACADEMIC AND CAREER GOALS THROUGH EDUCATION RELATED VENTURE EQUITY INVESTMENTS.
ASCENDIUM EDUCATION GROUP, INC. OPERATES FOR THE SUPPORT AND BENEFIT OF ASCENDIUM EDUCATION SOLUTIONS, INC. (SOLUTIONS). SOLUTIONS SUPPORTS INCREASED ACCESS TO AND SUCCESS IN POSTSECONDAY EDUCATION AS A NATIONAL GRANTMAKER, A FEDERAL STUDENT LOAN GUARANTY AGENCY AND A PROVIDER OF STUDENT SUCCESS SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Chair/pres/cio/treas | OfficerTrustee | 33 | $859,566 |
Name Not Listed Director, Secretary | Trustee | 2 | $9,700 |
Name Not Listed Director, Vice Chairman | Trustee | 2 | $9,700 |
Name Not Listed Director | Trustee | 3 | $17,200 |
Name Not Listed Director | Trustee | 3 | $19,400 |
Name Not Listed Director | Trustee | 2 | $9,700 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Morgan Stanley Investment Fees | 12/30/23 | $1,124,912 |
Applied Tech Solutions Llc Information Services | 12/30/23 | $770,139 |
Ernst & Young Us Llp Audit/tax Service | 12/30/23 | $276,189 |
Wipfli Llp Consulting | 12/30/23 | $124,081 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $1,186,288 |
| Investment income | $80,483,786 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$3,276,631 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $78,403,388 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,000 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $4,352,991 |
| Compensation of current officers, directors, key employees. | $2,737,169 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $9,079,494 |
| Pension plan accruals and contributions | $679,788 |
| Other employee benefits | $1,296,058 |
| Payroll taxes | $595,835 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $145,947 |
| Fees for services: Accounting | $233,372 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $5,637,329 |
| Fees for services: Other | $3,668,210 |
| Advertising and promotion | $130,240 |
| Office expenses | $2,256,733 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $850,010 |
| Travel | $280,087 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $213,345 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,172,801 |
| Insurance | $1,621,706 |
| All other expenses | $0 |
| Total functional expenses | $12,531,647 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,946 |
| Savings and temporary cash investments | $1,079,633,598 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $115,716,607 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $5,645,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $2,003,438 |
| Net Land, buildings, and equipment | $40,202,549 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,748,426,083 |
| Investments—program-related | $20,173,500 |
| Intangible assets | $0 |
| Other assets | $10,480,290 |
| Total assets | $3,022,286,011 |
| Accounts payable and accrued expenses | $5,655,744 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $110,505 |
| Total liabilities | $5,766,249 |
| Net assets without donor restrictions | $3,016,519,762 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $3,022,286,011 |