Educational Credit Management Corporation

Analysis

Educational Credit Management Corporation is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in August 1995, 31 years ago. Its declared purposes cover public and societal benefit, which this site groups under other charitable purposes. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Educational Credit Management Corporation reported income of $318.1m and spending of $362.1m, spending 114% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $322.1m to $318.1m (-1.3%), an average of -0.3% a year. The sharpest change came in the year to December 2021, when income rose by 55%. Over the whole period it spent 99% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Educational Credit Management Corporation sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within MN. Charities of a similar size with the same main cause include Abilene Christian University ($314.8m), Jsi Research & Training Institute Inc ($326.0m) and Loma Linda University Medical Center-Murrieta ($314.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 5.4% and program service revenue 94% of the total. Compensation of current officers, directors and key employees was $1.3m (0.4% of expenses). Other salaries and wages came to $40.3m. At year end it held assets of $295.1m against liabilities of $256.6m, net assets of $38.5m. It reported 277 employees.