Ascendium Education Solutions Inc
- Assets
- $284.7m
- Revenue
- $511.3m
- Investments
- $0.0
- Employees
- 234
- Location
- Madison, WI
- Founding
- 02/1997
- Data as of
- 12/2019
- 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 12/2019, Ascendium Education Solutions Inc employed 234 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations.
For the year ending 12/2019, Ascendium Education Solutions Inc generated $511.3m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 20.8% each year . All expenses for the organization totaled $319.2m during the year ending 12/2019. While expenses have increased by 24.9% per year over the past 5 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 756 individual grants totaling $209,040,591. 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
2019
Describe the Organization's Mission:
Part 3 - Line 1
OPERATES TO PROVIDE COST EFFECTIVE ACCESS TO POST-SECONDARY EDUCATION BY PROVIDING GUARANTY, FINANCIAL COUNSELLING AND RELATED SERVICES TO SUPPORT STUDENT LOAN AVAILABILITY.
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 |
|---|---|---|---|
Beth Erickson 3 VP - Repayment Solutions | Officer | 50 | $278,867 |
Jacqueline Fairbairn Vp-Policy/comp/claims/collect | Officer | 49 | $273,454 |
Amy Kobishop 3 VP - Education Philanthropy | Officer | 50 | $272,226 |
Rebecca Villarreal 3 Director Education Grantmaking | 45 | $164,238 | |
Barbara Wilhelm 3 Director Claims Review | 45 | $164,198 | |
Jeffrey Dick 3 Systems Analyst | 45 | $147,497 |
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 | $487,441,800 |
| Investment income | $15,018,737 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$19,652 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $511,268,683 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $112,858,458 |
| Grants and other assistance to domestic individuals. | $1,008,234 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,185,322 |
| Compensation of current officers, directors, key employees. | $65,029 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $12,876,258 |
| Pension plan accruals and contributions | $1,058,768 |
| Other employee benefits | $2,335,294 |
| Payroll taxes | $918,971 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $177,518 |
| Fees for services: Accounting | $212,567 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $678,756 |
| Advertising and promotion | $138,312 |
| Office expenses | $1,301,981 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $891,627 |
| Travel | $361,132 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $189,602 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,685,392 |
| Insurance | $7,279 |
| All other expenses | $15,074,182 |
| Total functional expenses | $319,237,947 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $54,202 |
| Savings and temporary cash investments | $158,092,097 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $8,651,340 |
| 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 | $3,552,250 |
| Net Land, buildings, and equipment | $22,730 |
| Investments—publicly traded securities | $130,000 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $106,000,000 |
| Other assets | $8,203,192 |
| Total assets | $284,705,811 |
| Accounts payable and accrued expenses | $10,933,562 |
| Grants payable | $22,506,274 |
| Deferred revenue | $14,520,565 |
| 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 | $196,631,798 |
| Total liabilities | $244,592,199 |
| Net assets without donor restrictions | $40,113,612 |
| 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 | $284,705,811 |
Grants Awarded
Over the last fiscal year, Ascendium Education Solutions Inc has awarded $113,289,317 in support to 133 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. | $87,120,164 |
Denver, CO PURPOSE: Strong Start to Finish Implementation & Innovation Fund | $2,875,000 |
New York, NY PURPOSE: College Promise Initiative; Multiple measures assessment Phase II Project; Evaluation of 15-18 CRI. Encouraging additional summer enrollment program; Applying the Evidence: Expanding Evidence-Based Strategies Across the Minnesota State System; Piloting an Income Share Agreement that Serves Low-Income Students | $1,813,695 |
Washington, DC PURPOSE: Degrees When Due Initiative; Ensuring High Quality Higher Education in Prison Programs | $1,480,793 |
AZ BOARD OF REGENTS ON BEHALF OF AZ STATE UNIV PURPOSE: Feasibility Testing with a clear and affordable path to a bachelor's degree by combining the scalability of an online learning environment with local supports. | $1,280,626 |
Washington, DC PURPOSE: Strengthening Guided Pathways through Workforce Tackling Transfer Phase II Justice Convening at Aspen | $1,188,600 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ascendium Education Solutions Inc Madison, WI | $284,705,811 | $511,268,683 |
Scholarship America Inc Minneapolis, MN | $147,610,318 | $206,274,453 |
Iowa Student Loan Liquidity Corp West Des Moines, IA | $1,307,508,535 | $64,909,561 |
National Equity Fund Inc Chicago, IL | $97,839,893 | $52,923,109 |
Northstar Education Finance Inc Eagan, MN | $1,832,708,530 | $62,829,137 |
National Merit Scholarship Corporation Evanston, IL | $147,852,638 | $43,963,602 |
Evans Scholars Foundation Glenview, IL | $97,723,282 | $45,801,611 |
Scholarship America Inc Minneapolis, MN | $206,987,645 | $34,220,842 |
Kalamazoo Promise Kalamazoo, MI | $109,338 | $15,572,348 |
Professional Convention Management Association Chicago, IL | $11,079,866 | $13,594,747 |
Ruth Mott Foundation Flint, MI | $237,465,716 | $8,655,148 |
Accenture Foundation Inc Chicago, IL | $128,544,355 | $23,346,789 |