Ascendium Education Solutions Inc
- Assets
- $288.1m
- Revenue
- $427.3m
- Investments
- $0.0
- Employees
- 197
- Location
- Madison, WI
- Founding
- 02/1997
- Data as of
- 12/2020
- EIN
- 39-1853833
Organization Overview
Ascendium Education Solutions Inc is located in Madison, WI. The organization was established in 1997. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. As of 12/2021, Ascendium Education Solutions Inc employed 197 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ascendium Education Solutions 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 Solutions Inc generated $427.3m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 13.6% each year . All expenses for the organization totaled $313.2m during the year ending 12/2020. While expenses have increased by 20.0% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Ascendium Education Solutions Inc has awarded 1,086 individual grants totaling $416,221,237. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
SUPPORTS INCREASED ACCESS TO AND SUCCESS IN POST-SECONDARY EDUCATION AS A NATIONAL GRANTMAKER, A FEDERAL STUDENT LOAN GUARANTY AGENCY AND A PROVIDER OF STUDENT SUCESS SERVICES
Describe the Organization's Program Activity:
Part 3 - Line 4a
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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeff Crosby 3 Pres/ceo-Aes | Officer | 42 | $521,604 |
Beth Erickson 3 VP - Repayment Solutions | Officer | 50 | $300,765 |
Jacqueline Fairbairn 3 VP - Policy & Reg Compliance | Officer | 49 | $298,454 |
Amy Kobishop 3 VP - Education Philanthropy | Officer | 48 | $284,526 |
Rebecca Villarreal 3 Dir Education Philanthropy | 45 | $206,478 | |
Jeffrey Dick 3 Systems Analyst | 45 | $167,671 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Kaplan Hecker Fink Llp Legal Services | 12/30/21 | $332,309 |
Godfrey Kahn Sc Legal Services | 12/30/21 | $364,403 |
Brownstein Hyatt Farber Schreck Llp Legal Services | 12/30/21 | $125,311 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $914,737 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $427,280,088 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $396,768 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,890,034 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $12,648,005 |
| Pension plan accruals and contributions | $1,045,267 |
| Other employee benefits | $2,614,172 |
| Payroll taxes | $629,275 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $366,969 |
| Fees for services: Accounting | $44,213 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $189 |
| Fees for services: Other | $1,177,578 |
| Advertising and promotion | $171,300 |
| Office expenses | $1,014,115 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $854,653 |
| Travel | $68,330 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $71,971 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,246 |
| Insurance | $11,446 |
| All other expenses | $0 |
| Total functional expenses | $313,241,055 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,959 |
| Savings and temporary cash investments | $189,426,977 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $8,669,814 |
| 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 | $2,113,578 |
| Investments—publicly traded securities | $7,300,498 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $70,666,668 |
| Other assets | $9,790,111 |
| Total assets | $288,144,309 |
| Accounts payable and accrued expenses | $9,309,508 |
| Grants payable | $13,970,321 |
| Deferred revenue | $12,229,057 |
| 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 | $148,459,048 |
| Total liabilities | $183,967,934 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $104,176,375 |
Grants Awarded
Over the last fiscal year, Ascendium Education Solutions Inc has awarded $107,113,158 in support to 181 organizations.
| Grant Recipient | Amount |
|---|---|
Indianapolis, IN PURPOSE: 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. | $66,090,349 |
Boston, MA PURPOSE: Horizons: Designing Jobs for the Future Identification of a Signature Statewide Initiative in Wisconsin Ready for Pell Scaling the Student Success Center Network Coaching Program | $2,881,684 |
Washington, DC PURPOSE: Accelerating Transfer Reform; Researching and Awarding Excellence in Rural Community Colleges; Strengthening Guided Pathways through Workforce | $1,911,225 |
New York, NY PURPOSE: Bringing to Scale and Measuring the Effects of Guided Pathways Reforms by Ohio's Community Colleges; Guided Pathways: "What and How To" Educational Series; Paving the Way to Equitable, Adequate, and Effective Community College Funding; Reporting of Postsecondary Education | $1,666,709 |
MINNESOTA STATE COLLEGES & UNIVERSITIES PURPOSE: Minnesota Math Pathways | $1,646,700 |
Washington, DC PURPOSE: Catalyzing Rural Community Colleges Through a Design Challenge Community College Growth Engine Fund Expansion | $1,450,800 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ascendium Education Solutions Inc Madison, WI | $288,144,309 | $427,280,088 |
Scholarship America Inc Minneapolis, MN | $150,354,223 | $196,558,508 |
National Equity Fund Inc Chicago, IL | $118,912,735 | $59,533,345 |
Richard U Light Foundation Kalamazoo, MI | $629,730 | $25,417,215 |
Iowa Student Loan Liquidity Corp West Des Moines, IA | $1,230,053,718 | $45,688,659 |
National Merit Scholarship Corporation Evanston, IL | $183,825,978 | $50,191,294 |
Northstar Education Finance Inc Eagan, MN | $1,293,468,719 | $40,177,777 |
Evans Scholars Foundation Glenview, IL | $101,873,087 | $62,566,812 |
Skillman Foundation Detroit, MI | $412,503,854 | $53,699,386 |
Northwestern Mutual Life Foundation Inc Milwaukee, WI | $106,326,341 | $38,353,841 |
Scholarship America Inc Minneapolis, MN | $219,130,905 | $29,933,482 |
Kalamazoo Promise Kalamazoo, MI | $7,251,327 | $23,596,440 |