Educational Credit Management Corporation
EDUCATIONAL CREDIT is a Minneapolis-based public charity that provides financial counseling and education to empower students to make better choices about their futures. Its activities include student-loan guarantee and servicing work, borrower education, and grants supporting postsecondary education.
Educational Credit Management Corporation at a glance
In short: Educational Credit Management Corporation gave $177.0M across 293 grants in 2024 (avg $604K), mostly in Minnesota. Source: 2024 IRS Form 990.
- Annual giving (2024)
- $176,978,272
- -33.7% vs 2023
- Grants made (2024)
- 293
- +523.4% vs 2023
- Average grant
- $604,021
- -89.4% vs 2023
- Median grant
- $55,383
- Total assets
- $209,123,067
- -29.1% vs 2023
- Primary geography
- Minnesota (74% of itemized 2024 grant dollars)
- Latest 990 filing
- Form 990, 2024 View filing
Data from IRS Form 990, 2024; updated September 2026.
How to apply to Educational Credit Management Corporation
- Accepts unsolicited proposals
- Yes
- How to Apply
-
ECMC Foundation accepts unsolicited requests through an online Letter of Inquiry form. Letters are reviewed on a rolling basis; the Foundation first assesses basic eligibility and alignment.
- Review Cycle
- Rolling; submissions are accepted throughout the year.
- Deadline
- Rolling; submissions are accepted throughout the year.
- Contact
Mailing address: 111 Washington Ave So 1400, Minneapolis, MN 55401
Phone: (651) 221-0566
Website: https://ecmc.org
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Who Educational Credit Management Corporation funds
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
The largest 2024 recipient was Ecmc Group Inc ($128.9M). Together the top 10 received $145.9M.
Organizations only. It also paid 14 grants to individuals ($2,800,921), which are not listed by name.
Grant Size Distribution
500 grants across all recorded years
The most common grant size was under $50K: 316 grants of 500 (63%).
Geographic Focus
Where this funder awards grants
The 2024 grant dollars were concentrated in Minnesota (74%), followed by Washington, DC (5%), New York (4%), Virginia (2%), and Texas (2%). The listed grants also included recipients in other states, including Washington, Tennessee, and Illinois.
Grant Distribution by State
Share of 2024 grant dollars across all 293 itemized grants.
States
Cities
How Educational Credit Management Corporation gives
- Giving fell 37% from 2021 to 2024. Method
From the foundation's IRS Form 990 filings. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2024, annual grant giving ranged from $177.0M (2024) to $279.1M (2021). In 2024 it made 293 grants totaling $177.0M.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Ecmc Group Inc Minneapolis, MN | General Support | $128,892,000 |
| Partnership for Education Advancement New York, NY | Fafsa Student Support | $4,324,959 |
| Nasfaa Washington, DC | Fafsa Student Support | $3,323,686 |
| Communities in Schools Inc Arlington, VA | Fafsa Student Support | $2,582,465 |
| National College Attainment Network Washington, DC | Fafsa Student Support | $1,748,000 |
| 2 grants to individuals Recipients not named | — | $2,142,791 |
| Texas Guaranteed Student Loan Corporation Round Rock, TX | Fafsa Student Support | $1,055,450 |
| The Get Schooled Foundation Seattle, WA | Fafsa Student Support | $1,000,000 |
| Tennessee Student Assistance Corporation Nashville, TN | Fafsa Student Support | $1,000,000 |
| United Way Worldwide Alexandria, VA | Fafsa Student Support | $999,741 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Net Investment Income |
|---|---|---|---|---|---|---|
| 2024 | $209,123,067 | $264,998,856 | $261,591,267 | $176,978,272 | 293 | $1,363,991 |
| 2023 | $295,093,716 | $318,087,346 | $362,056,007 | $266,882,264 | 47 | $933,773 |
| 2022 | $429,860,105 | $361,979,726 | $338,613,468 | $249,057,907 | 47 | $312,952 |
| 2021 | $748,768,663 | $424,071,754 | $374,401,993 | $279,081,720 | 64 | $10,722 |
| 2020 | $904,889,623 | $274,395,445 | $293,177,543 | $193,537,231 | 49 | $149,818 |
Research compiled by Grantable AI from public sources. Last updated September 2026.
Mission & Focus Areas
The organization’s stated mission is to provide financial counseling and education to empower students to make better choices about their futures. Its described programs include financial literacy and money-management education, default prevention and repayment counseling, student-loan guarantee and servicing activities, and services for postsecondary institutions.
Its 2024 grants show support for organizations working in postsecondary access and student support. For example, the Partnership for Education Advancement says its mission is to strengthen mission-focused colleges and universities serving low-income, first-generation, and under-resourced students and families. The National College Attainment Network describes its mission as closing equity gaps in postsecondary attainment. Communities in Schools says it supports students to stay in school and achieve in life.
Grantmaking
In 2024, the organization reported 293 grants totaling $176,978,272. Grant amounts ranged from $5,127 to $128,892,000, with a median of $55,383. The largest grant was $128,892,000 to ECMC Group Inc. for general support. Other notable grants included $4,324,959 to the Partnership for Education Advancement and $3,323,686 to NASFAA, both for FAFSA student support; $2,582,465 to Communities in Schools for FAFSA student support; and $1,748,000 to the National College Attainment Network for FAFSA student support.
ECMC Foundation describes an open Letter of Inquiry process that accepts applications from organizations, institutions, and systems without an invitation. Its guidance says requests should be project-based and reform-oriented, with a detailed budget, defined timeframe, activities, intended outcomes, and a clear expected change for students, institutions, or systems. It states that it does not provide general operating support.
Leadership & Key People
Leadership team and compensation from IRS filings
The 2024 filing lists Daniel Fisher, President & CEO of ECMC Group, and Martin Scanlon, CFO & Treasurer. James V. McKeon is listed as Board Chair. Other directors listed are Diana J. Ingram, Jack O’Connell, Julia S. Gouw, Derek Langhauser, James Runcie, Jennifer Anderson, and K. Paul Singh.
Educational Credit Management Corporation is led by Daniel S. Fisher, President, CEO & Ecmc Group since 2023 (on filings since 2020); 8 of 21 officers listed in 2024 are compensated.
Officers on the 2024 filing
Daniel S. Fisher
President, CEO & Ecmc Group
Group President, CEO, Ecmc President, Group General Counsel & Corp Secretary → Grp President & CEO, 2022
Grp President & CEO → President, CEO & Ecmc Group, 2023
On filings since 2020
No compensation reported
Jeremy J. Wheaton
Former President, CEO & Ecmc Group
President, CEO, Ecmc Group & Inc. → President, Ceo-Part Yr & Senior Advisor, 2022
President, Ceo-Part Yr & Senior Advisor → Former President, CEO & Ecmc Group, 2023
On filings since 2020
No compensation reported
Chad Tate
President & Ecmc
Ecmc President, Senior Vice President & Operations → Ecmc President, 2022
Ecmc President → President & Ecmc, 2023
On filings since 2020
40 hrs/week
$295K (2020) → $599K (2024)
James V. McKeon
Board Chair
On filings since 2020
1 hr/week
No compensation reported
Han Cho
Director & Portfolio Management
On filings since 2020
40 hrs/week
$180K (2020) → $210K (2024)
J. Hamlin Sjoberg
Senior Director & Guarantor Services
Director & Guarantor Services → Senior Director & Guarantor Services, 2022
On filings since 2020
40 hrs/week
$188K (2020) → $246K (2024)
Jan Jacobson
Director & Customer Service
On filings since 2020
40 hrs/week
$180K (2020) → $205K (2024)
Nathan Vickery
Senior Director & Repayment Success Center
Senior Director & Repayment Success Center → Senior Director & Repayment Success Ctr, 2022
Senior Director & Repayment Success Ctr → Senior Director & Repayment Success Center, 2023
On filings since 2020
40 hrs/week
$214K (2020) → $255K (2024)
Charles Nadeau
Director, Analytics & Revenue Management
New on the 2024 filing
40 hrs/week
$187K (2024)
Derek Langhauser
Director
On filings since 2020
1 hr/week
No compensation reported
Diana J. Ingram
Director
On filings since 2020
1 hr/week
No compensation reported
Jack O'Connell
Director
On filings since 2020
1 hr/week
No compensation reported
Julia S. Gouw
Director
On filings since 2020
1 hr/week
No compensation reported
K. Paul Singh
Director
On filings since 2020
1 hr/week
No compensation reported
James Runcie
Director
On filings since 2021
1 hr/week
No compensation reported
Jennifer Anderson
Director
On filings since 2021
1 hr/week
No compensation reported
Paula J. Craw
Vice President & Outreach
On filings since 2020
40 hrs/week
$244K (2020) → $280K (2024)
Therese B. Bickler
Vice President & Ecmc Operations
On filings since 2020
40 hrs/week
$351K (2020) → $345K (2024)
John F. Depodesta
Former Board Chair
On filings since 2020
No compensation reported
Martin A. Scanlon
CFO & Treasurer
On filings since 2020
No compensation reported
Brian Boardman
General Counsel & Corp Secretary
Grp General Counsel & Corp Secretary → General Counsel & Corp Secretary, 2023
On filings since 2022
No compensation reported
Former officers (10)
- Former: I. King Jordan (2020–2023) — Former Director
- Former: Nate Malmo (2022–2023) — Director & Internal Default Management
- Former: Gregory A. Van Guilder (2020–2022) — Former CFO & Grp CIO
- Former: Maurice M. Salter (2020–2022) — Director
- Former: Roberta Cooper Ramo (2020–2022) — Former Director
- Former: Janice A Hines (2020–2021) — Former President, CEO, Ecmc & Current Senior Advisor
- Former: Len B Hyde (2020–2021) — Former Vice President & Default Management
- Former: Stephen H Hansen (2020–2021) — Former Vice President, It Ecmc, Current Vice President, It & Ecmc Shared Services
- Former: Leslie Naake (2021) — Business Systems Analyst Lead
- Former: Darrell Mott (2020) — Manager & Business Systems
Data from IRS Form 990 filings, 2020–2024. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2024 IRS filing
The highest reported compensation on the 2024 filing was $599K, to Chad Tate (President, Ecmc). 8 officers or directors reported compensation on that filing.
Frequently asked questions about Educational Credit Management Corporation
How much does Educational Credit Management Corporation give each year?
Educational Credit Management Corporation gave $177.0M across 293 grants in 2024, according to its 2024 IRS Form 990. In 2023 it gave $266.9M across 47 grants.
What is Educational Credit Management Corporation's typical grant size?
Educational Credit Management Corporation's median grant in 2024 was $55,383, and its average grant was $604,021, across 293 grants on its 2024 IRS Form 990.
Where does Educational Credit Management Corporation give grants?
Educational Credit Management Corporation gives mostly in Minnesota: 74% of the grant dollars itemized on its 2024 IRS Form 990 went to recipients there. The most frequent recipient cities were Washington, DC (11 grants), New York, NY (9 grants), Los Angeles, CA (9 grants) and Chicago, IL (8 grants).
Does Educational Credit Management Corporation give general operating support?
Occasionally: 0% of Educational Credit Management Corporation's 2024 grants with a stated purpose (1 of 293) were for general or operating support, per its 2024 IRS Form 990. Recurring purposes include "Fafsa Student Support" (264 grants), "Project Success" (18 grants) and "Outreach & Financial Literacy, Project Success" (4 grants).
Who are Educational Credit Management Corporation's largest grantees?
Educational Credit Management Corporation's largest 2024 grantees include Ecmc Group Inc ($128,892,000), Partnership for Education Advancement ($4,324,959) and Nasfaa ($3,323,686), according to its 2024 IRS Form 990. It also paid 14 grants to individuals ($2,800,921), which are not listed by name. Together they received 77% of its itemized 2024 grant dollars.
How large is Educational Credit Management Corporation?
Educational Credit Management Corporation reported $209.1M in total assets on its 2024 IRS Form 990. Its revenue that year was $265.0M.
What does Educational Credit Management Corporation fund?
The organization’s stated mission is to provide financial counseling and education to empower students to make better choices about their futures. See mission & focus areas ↑
How do I apply for a grant from Educational Credit Management Corporation?
ECMC Foundation accepts unsolicited requests through an online Letter of Inquiry form. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
What is Educational Credit Management Corporation's EIN?
Educational Credit Management Corporation's EIN (Employer Identification Number) is 41-1778617. IRS Form 990 filing data is available on this page for 2020–2024.
Does Educational Credit Management Corporation accept unsolicited proposals?
Yes, according to Grantable's research on the foundation's published guidelines. See how to apply ↑
Data last updated September 2026. Sourced from IRS Form 990 filings. Research dossier generated September 2026.
Data update history
(6)
When this profile's IRS filing data changed on Grantable
- Updated Form 990 for fiscal year 2020 (received by the IRS November 9, 2021)
- Updated Form 990 for fiscal year 2021 (received by the IRS November 10, 2022)
- Updated Form 990 for fiscal year 2022 (received by the IRS November 14, 2023)
- Updated Form 990 for fiscal year 2023 (received by the IRS November 14, 2024)
- Updated Form 990 for fiscal year 2024 (received by the IRS November 15, 2025)
- IRS filings on file for fiscal years 2020–2024
Live grants for the work Educational Credit Management Corporation funds
Public, Societal Benefit Open opportunities, soonest deadline first.
Explore Open Grants
Browse active grant opportunities in Educational Credit Management Corporation's focus areas in our free grants database
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Cite this profile
Grantable. (2026). Educational Credit Management Corporation funder profile. GrantGraph. Retrieved October 20, 2026, from https://grantable.co/funders/educational-credit-management-corporation-morg_00850a70113d4eef89361a9f9a7f314a
BibTeX
@misc{grantable_411778617_2026,
author = {{Grantable}},
title = {{Educational Credit Management Corporation funder profile}},
howpublished = {GrantGraph},
year = {2026},
url = {https://grantable.co/funders/educational-credit-management-corporation-morg_00850a70113d4eef89361a9f9a7f314a},
note = {Accessed 2026-10-20. Data licensed CC BY 4.0}
}The figures on this page are open data under CC BY 4.0: reuse them with credit to Grantable and a link. Download the data.
Figures come from Educational Credit Management Corporation's IRS filings (methodology). AI-written summaries, news items and logos are not covered by the open licence. Spot an error? Email hello@grantable.co.
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