Ascendium Education Group Inc
- Assets
- $2.3b
- Revenue
- $30.3m
- Investments
- $1.3b
- Employees
- 82
- Location
- Madison, WI
- Founding
- 11/1967
- Data as of
- 12/2020
- 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 12/2021, Ascendium Education Group Inc employed 82 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 12/2020, Ascendium Education Group Inc generated $30.3m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 10.9% each year . All expenses for the organization totaled $2.5m during the year ending 12/2020. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
ASCENDIUM EDUCATION GROUP, INC. OPERATES FOR THE SUPPORT AND BENEFIT OF ASCENDIUM EDUCATION SOLUTIONS AND NORTHSTAR GUARANTEE, INC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ASCENDIUM EDUCATION GROUP, INC. OPERATES FOR THE SUPPORT AND BENEFIT OF ASCENDIUM EDUCATION SOLUTIONS, INC. (SOLUTIONS) AND NORTHSTAR GUARANTEE INC.(NORTHSTAR). SOLUTIONS AND NORTHSTAR SUPPORTS INCREASED ACCESS TO AND SUCCESS IN POSTSECONDAY EDUCATION AS A NATIONAL GRANTMAKER, AS 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 |
|---|---|---|---|
Richard D George 23 Chair/pres/cio/treas | OfficerTrustee | 28 | $848,776 |
Hope Merry 3 Chief Financial Officer | Officer | 10 | $399,568 |
Rebecca Rapp 3 Gen Cnsl, Chf Prvcy & Asst Sec | Officer | 24 | $286,780 |
Brett Lindquist 3 VP - Strategic Communications | Officer | 10 | $272,710 |
Matt Harlowe 3 Director Internal Audit | Officer | 25 | $233,622 |
Maureen Harrill 3 VP - Human Resources | Officer | 10 | $219,332 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Foley Lardner Legal Service | 12/30/21 | $1,003,533 |
Brownstein Hyatt Farber Schreck Legal Service | 12/30/21 | $246,674 |
Deloitte Financial Advisory Service Legal Service | 12/30/21 | $569,466 |
Ernst Young Us Llp Audit/tax Service | 12/30/21 | $277,863 |
Morgan Stanley Investment Service | 12/30/21 | $79,866 |
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 | $0 |
| Investment income | $30,391,646 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$86,577 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $30,305,077 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $10,000 |
| Grants and other assistance to domestic individuals. | $32,250 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $3,043,811 |
| Compensation of current officers, directors, key employees. | $2,090,066 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,206,227 |
| Pension plan accruals and contributions | $320,291 |
| Other employee benefits | $533,283 |
| Payroll taxes | $247,096 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $956,335 |
| Fees for services: Accounting | $192,318 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $2,410,080 |
| Fees for services: Other | $3,111,365 |
| Advertising and promotion | $52,325 |
| Office expenses | $1,647,987 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $215,640 |
| Travel | $16,956 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $62,088 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $13,412 |
| Insurance | $835,525 |
| All other expenses | $0 |
| Total functional expenses | $2,468,782 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,176 |
| Savings and temporary cash investments | $851,689,036 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $127 |
| Net Land, buildings, and equipment | $10,916,347 |
| Investments—publicly traded securities | $80,782,441 |
| Investments—other securities | $1,256,455,541 |
| Investments—program-related | $90,322,411 |
| Intangible assets | $0 |
| Other assets | $7,413,747 |
| Total assets | $2,297,580,826 |
| Accounts payable and accrued expenses | $937,974 |
| 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 | $2,341,932 |
| Total liabilities | $3,279,906 |
| Net assets without donor restrictions | $2,294,300,920 |
| 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 | $2,297,580,826 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Ascendium Education Group Inc has recieved totaling $33,245.
| Awarding Organization | Amount |
|---|---|
Paul Millsap Foundation Corp Atlanta, GA PURPOSE: TO PROVIDE FUNDS FOR ORGANIZATION'S PURPOSE | $20,000 |
Central Carolina Community Foundation Columbia, SC PURPOSE: GENERAL SUPPORT | $7,535 |
University Club Of Palo Alto Scholarship Fund Palo Alto, CA PURPOSE: TUITION | $5,710 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Higher Learning Commission Chicago, IL | $30,215,357 | $14,566,348 |
Best Academy Inc Minneapolis, MN | $10,985,443 | $14,343,198 |
Lincoln Christian University Lincoln, IL | $26,403,234 | $11,063,987 |
Leech Lake Tribal College Cass Lake, MN | $13,791,510 | $6,377,712 |
Puritan Reformed Theological Seminary Grand Rapids, MI | $13,368,431 | $7,247,093 |
Wisconsin Association Of Independent Colleges And Universit Madison, WI | $20,602,047 | $4,896,137 |
Institute For American Universities Batavia, IL | $0 | $2,168,286 |
Ascendium Education Group Inc Madison, WI | $2,297,580,826 | $30,305,077 |
Illini Media Company Champaign, IL | $660,510 | $954,260 |
Grand Valley University Foundation Allendale, MI | $3,517,597 | $1,567,995 |
Taskin Educational Organization Rolling Meadows, IL | $5,195,736 | $2,445,320 |
Darien Study Center Inc Darien, IL | $5,636,681 | $500,706 |