Ecmc Foundation
- Assets
- $1.7b
- Revenue
- $58.2m
- Investments
- $1.7b
- Employees
- 25
- Location
- Minneapolis, MN
- Founding
- 04/2001
- Data as of
- 12/2023
- EIN
- 41-1990628
Organization Overview
Ecmc Foundation is located in Minneapolis, MN. The organization was established in 2001. According to its NTEE Classification (B02) the organization is classified as: Management & Technical Assistance, under the broad grouping of Education and related organizations. As of 12/2023, Ecmc Foundation employed 25 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ecmc Foundation 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, Ecmc Foundation generated $58.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (7.3%) each year. All expenses for the organization totaled $65.7m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Ecmc Foundation has awarded 1,501 individual grants totaling $324,476,892. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
ECMC FOUNDATION IS A NATIONALLY FOCUSED FOUNDATION WHOSE MISSION IS TO IMPROVE HIGHER EDUCATION FOR CAREER SUCCESS AMONG UNDERSERVED POPULATIONS THROUGH EVIDENCE-BASED INNOVATION. ECMC FOUNDATION MAKES INVESTMENTS TO REMOVE BARRIERS TO POSTSECONDARY COMPLETION; BUILD THE CAPACITY OF ORGANIZATIONS, INSTITUTIONS AND SYSTEMS; AND TRANSFORM THE POSTSECONDARY ECOSYSTEM USING A SPECTRUM OF FUNDING STRUCTURES, INCLUDING STRATEGIC GRANTMAKING AND PROGRAM-RELATED INVESTMENTS, TO SUPPORT BOTH NONPROFIT AND FOR-PROFIT VENTURES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
STRATEGICALLY RESPONSIVE GRANTMAKING:ECMC FOUNDATION AIMS TO DRIVE SYSTEMIC CHANGE, GETTING AT THE ROOT CAUSES OF COMPLEX CHALLENGES IN HIGHER EDUCATION, NOT JUST THE SYMPTOMS. THIS MAY MEAN TACKLING THE BIASES, INSTITUTIONAL, SYSTEM-LEVEL OR STATE OR FEDERAL POLICIES, RESOURCE ALLOCATION AND FLOWS, AND FINANCIAL AND LIFE CIRCUMSTANCES THAT CREATE BARRIERS TO SUCCESS FOR UNDERSERVED LEARNERS.IN ADDITION TO THE FIVE PRIMARY PROGRAM INITIATIVES, ECMC FOUNDATION MAKES GRANTS AND INVESTMENTS THROUGH AN OPEN LETTER OF INQUIRY PROCESS. AS ECMC FOUNDATION PURSUES SYSTEMIC CHANGE IN THE POSTSECONDARY ECOSYSTEM, IT REMAINS COMMITTED TO FUNDING EVIDENCE-BASED INNOVATION WITH THE FLEXIBILITY TO ADAPT AS THE HIGHER EDUCATION LANDSCAPE EVOLVES. ECMC FOUNDATION RESERVES FUNDING FOR PROJECTS THAT DO NOT FIT WITHIN ONE OF THE ESTABLISHED INITIATIVES BUT ARE CONNECTED TO ONE OR MORE OF ITS STRATEGIC PRIORITIES.
BASIC NEEDS:THE BASIC NEEDS INITIATIVE FOCUSES ON PROVIDING ACCESS TO BASIC NEEDS, SUCH AS FOOD, HOUSING, CHILDCARE, MENTAL HEALTH, FINANCIAL ASSISTANCE AND TRANSPORTATION, WHICH IS CRITICAL FOR ENSURING STRONG ACADEMIC PERFORMANCE, INCREASING PERSISTENCE AND GRADUATION, AND IMPROVING WELLBEING AMONG STUDENTS IN POSTSECONDARY EDUCATION. THE BASIC NEEDS INITIATIVE DEVELOPED A NEW STRATEGY AND PRODUCED A THEORY OF ACTION TO REALIZE AN AMBITIOUS GOAL TO DECREASE THE PERCENTAGE OF POSTSECONDARY STUDENTS EXPERIENCING BASIC NEEDS INSECURITY BY 10% BY 2033. THE BASIC NEEDS INITIATIVE NOW PRIORITIZES FUNDING HIGH-IMPACT SOLUTIONS WITHIN THREE STRATEGIC AREAS: GROWING DATA CAPACITY, SCALING EFFECTIVE PRACTICES AND INFORMING POLICY REFORM.
SINGLE MOTHER STUDENT SUCCESS:THE SINGLE MOTHER STUDENT SUCCESS INITIATIVE ENSURES THAT SINGLE MOTHERS CAN PURSUE THEIR EDUCATIONAL DREAMS AND PRODUCE MEASURABLE PROGRESS ON RACIAL AND GENDER EQUITY, NOT JUST IN HIGHER EDUCATION, BUT IN SOCIETY AS A WHOLE, REDUCING POVERTY AND BOOSTING ECONOMIC MOBILITY. ELEMENTS OF ECMC FOUNDATION'S STRATEGY INCLUDE CONDUCTING RESEARCH TO BETTER UNDERSTAND THE EXPERIENCE OF SINGLE MOTHER STUDENTS, BUILDING THE CAPACITY OF COMMUNITY COLLEGES TO PROVIDE MORE COMPREHENSIVE SERVICES, EXPANDING PARTNERSHIPS WITH COMMUNITY-BASED ORGANIZATIONS AND BUILDING PUBLIC WILL FOR SINGLE MOTHER STUDENT SUCCESS THROUGH INCREASED AWARENESS OF SUPPORTIVE STRATEGIES AND POLICIES. IN 2023, ECMC FOUNDATION MADE 12 GRANTS TOTALING $4.9 MILLION.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Daniel Fisher President & Ceo, Ecmc Group | Trustee | 0 | $0 |
Peter Taylor President, Ecmc Foundation-Part Year | OfficerTrustee | 40 | $447,382 |
James V Mckeon Board Chair | Trustee | 2 | $0 |
Diana J Ingram Director | Trustee | 2 | $0 |
Jack O'connell Director | Trustee | 2 | $0 |
Julia S Gouw Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Indigo Events Llc Consulting Services | 12/30/23 | $669,139 |
Avivar Capital Llc Consulting Services | 12/30/23 | $140,000 |
Sova Solutions Llc Consulting Services | 12/30/23 | $112,646 |
Equivolve Consulting Llc Consulting Services | 12/30/23 | $109,554 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $58,528,000 |
| 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 | $58,528,000 |
| Total Program Service Revenue | $0 |
| Investment income | $514,084 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$825,000 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $58,219,618 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $53,246,731 |
| 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. | $1,452,546 |
| Compensation of current officers, directors, key employees. | $1,452,546 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,481,785 |
| Pension plan accruals and contributions | $225,314 |
| Other employee benefits | $490,075 |
| Payroll taxes | $296,941 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $349,091 |
| Fees for services: Accounting | $45,405 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $555 |
| Fees for services: Other | $2,228,398 |
| Advertising and promotion | $0 |
| Office expenses | $357,018 |
| Information technology | $284,439 |
| Royalties | $0 |
| Occupancy | $356,858 |
| Travel | $565,862 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $69,634 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $95,155 |
| Insurance | $78,641 |
| All other expenses | $37,583 |
| Total functional expenses | $65,662,081 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,267,446 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $21,012 |
| 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 | $2,183 |
| Net Land, buildings, and equipment | $101,586 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,679,288,242 |
| Investments—program-related | $13,247,727 |
| Intangible assets | $0 |
| Other assets | $833,060 |
| Total assets | $1,698,761,256 |
| Accounts payable and accrued expenses | $2,298,440 |
| Grants payable | $34,981,745 |
| 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 | $1,398,592 |
| Total liabilities | $38,678,777 |
| Net assets without donor restrictions | $1,660,082,479 |
| 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 | $1,698,761,256 |
Grants Awarded
Over the last fiscal year, Ecmc Foundation has awarded $52,818,353 in support to 205 organizations.
| Grant Recipient | Amount |
|---|---|
826 MSP PURPOSE: GENERAL SUPPORT | $10,000 |
A PLACE CALLED HOME PURPOSE: GENERAL SUPPORT | $20,000 |
ACHIEVE TWIN CITIES PURPOSE: GENERAL SUPPORT | $15,000 |
ADOPT-A-CLASSROOM INC PURPOSE: GENERAL SUPPORT | $25,000 |
ALBUQUERQUE ACADEMY PURPOSE: GENERAL SUPPORT | $10,000 |
APPRENTICESHIPS FOR AMERICA PURPOSE: GENERAL SUPPORT | $100,000 |