Ascendium Education Solutions Inc
- Assets
- $351.5m
- Revenue
- $298.2m
- Investments
- $0.0
- Employees
- 162
- Location
- Madison, WI
- Founding
- 02/1997
- Data as of
- 12/2023
- 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 12/2023, Ascendium Education Solutions Inc employed 162 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 12/2023, Ascendium Education Solutions Inc generated $298.2m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.2% each year. All expenses for the organization totaled $119.5m during the year ending 12/2023. While expenses have increased by 1.6% per year over the past 8 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 1,466 individual grants totaling $595,432,489. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
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 SUCCESS SERVICES.
Describe the Organization's Program Activity:
ASCENDIUM EDUCATION SOLUTIONS, INC. OPERATES TO PROVIDE COST EFFECTIVE ENABLEMENT OF ACCESS TO AND SUCCESS IN POST-SECONDARY EDUCATION BY PROVIDING FULL-RANGE GUARANTY AGENCY SERVICES TO EDUCATIONAL INSTITUTIONS 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.
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 SOLUTIONS, INC. PROVIDES PHILANTHROPIC SUPPORT FOR LOCAL COMMUNITIES - WHERE ITS EMPLOYEESS LIVE AND WORK, PRIMARILY CONCENTRATED IN MADISON, WISCONSIN. THIS SUPPORT INCLUDES EDUCATION-FOCUSED COMMUNITY GIVING, AN EMPLOYEE GIVING PROGRAM, AND FINANCIAL AND PERSONNEL SUPPORT FOR COMMUNITY SERVICES THAT ALIGN WITH OUR EDUCATION FOCUS. COMMUNITY GIVING EFFORTS FOCUS ON SUPPORTING LOCAL COMMUNITY SERVICE ORGANIZATIONS AND POST SECONDARY INSTITUTIONS. THE ASCENDIUM CARES PROGRAM FEATURES AN ANNUAL EMPLOYEE CHARITY FUNDRAISING DRIVE, A VOLUNTEER TIME-OFF PROGRAM, AND FINANCIAL MATCHING FOR TIME AND FUNDS DONATED TO ELIGIBLE NONPROFITS. OTHER SERVICES INCLUDE FREE TRAINING AND MEETING SPACE SUPPORT FOR LOCAL NONPROFITS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Director | Trustee | 3 | $19,400 |
Name Not Listed Director, Secretary | Trustee | 1 | $9,700 |
Name Not Listed Director, Vice Chairman | Trustee | 1 | $9,700 |
Name Not Listed Director | Trustee | 1 | $9,700 |
Name Not Listed Director | Trustee | 1 | $9,700 |
Name Not Listed Director | Trustee | 1 | $11,900 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Your Cause Holdings Llc Software Provider | 12/30/23 | $361,783 |
Tannenholz & Associates Pllc Legal Services | 12/30/23 | $149,606 |
Covington & Burling Llp Legal Services | 12/30/23 | $146,748 |
Luke Terrell Film Maker | 12/30/23 | $102,200 |
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 | $284,947,927 |
| Investment income | $9,122,893 |
| 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 | $298,192,646 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $71,421,919 |
| Grants and other assistance to domestic individuals. | $1,580,500 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,800,788 |
| Compensation of current officers, directors, key employees. | $706,314 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $10,214,109 |
| Pension plan accruals and contributions | $881,048 |
| Other employee benefits | $2,116,080 |
| Payroll taxes | $704,221 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $396,609 |
| Fees for services: Accounting | $98,404 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,144 |
| Fees for services: Other | $1,367,508 |
| Advertising and promotion | $311,169 |
| Office expenses | $1,381,820 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $154,394 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $46,183 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $7,718 |
| All other expenses | $0 |
| Total functional expenses | $119,504,517 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | -$64,035 |
| Savings and temporary cash investments | $215,143,566 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $90,913,281 |
| 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 | $335,701 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $45,135,551 |
| Total assets | $351,464,064 |
| Accounts payable and accrued expenses | $3,209,274 |
| Grants payable | $0 |
| Deferred revenue | $4,979,635 |
| 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 | $20,712,821 |
| Total liabilities | $28,901,730 |
| Net assets without donor restrictions | $322,562,334 |
| 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 | $351,464,064 |
Grants Awarded
Over the last fiscal year, Ascendium Education Solutions Inc has awarded $71,533,809 in support to 205 organizations.
| Grant Recipient | Amount |
|---|---|
ACHIEVING THE DREAM INC PURPOSE: Actualizing Community Vibrancy Metrics Evaluating Digital Pathways Transformation Cohort of Rural Community Colleges From Opening Doors to Ushering In- Strategic Enrollment Management for Adult Learner Success Project Success 2023 Partner Grant Project Success Formative and Summative Assessment Redesigning Pathways for Adult College and Career Success travel DREAM 2023 Full Conference REGISTRATION FEE (15), February 14-17, 2023 | $3,544,480 |
EDUCATION DESIGN LAB PURPOSE: Transformation of the Postsecondary Landscape Community College Growth Engine Fund Expansion Travel Grant Rural Summit 2023 Catalyzing Rural Community Colleges Through a Design Challenge | $4,476,200 |
JOBS FOR THE FUTURE INC PURPOSE: Ready for Pell Supporting Career Pathways for Low-Income Rural Immigrants, Migrants and Refugees Travel Grant - Grantmakers for Education Conference Travel Grant SXSW EDU Horizons: JFF National Summit 6/14-6/15/23 | $3,308,468 |
MERIT AMERICA PURPOSE: Scaling IT Support and Data Analytics Certificate Programming for Learners from Low-Income Backgrounds | $3,000,000 |
URBAN LEAGUE OF GREATER MADISON INC PURPOSE: Advance Employment Services Black Business Hub | $2,625,000 |
BLUE MERIDIAN PARTNERS INC PURPOSE: Blue Meridian Partners Impact Investment | $3,000,000 |