Ascendium Education Group
Ascendium Education Group
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About this organization
Mission
Ascendium Education Group is the nation’s largest federal student loan guarantor, a leading postsecondary education philanthropy and a provider of student success services for postsecondary institutions. Ascendium, a 501(c)(3) nonprofit organization, provides information, tools and counseling to help millions of borrowers nationwide avoid default and keep the door to re-enrollment open. Ascendium’s philanthropic mission is to elevate opportunities and outcomes for learners from low-income backgrounds so they can better achieve postsecondary educational and career success.
About
Ascendium Education Group, Inc. operates for the support and benefit of Ascendium Education Solutions, Inc. (Solutions) and Northstar Guarantee Inc. (Northstar). Solutions and Northstar ensure enablement of access to and persistence in post-secondary education by providing philanthropic support and cost effective guaranty agency services and lower cost or otherwise unavailable funding for federally guaranteed loans to students and parents and/or alternation non-federally guaranteed loans.
Interesting data from their 2020 990 filing
When outlining the tasks it performs, they were referred to as: “Ascendium education group, inc. operates for the support and benefit of ascendium education solutions, inc. and northstar guarantee, inc.”.
- The non-profit's reported state of operation is WI as per legal requirements.
- The filing reveals that the address of the non-profit in 2020 is 2501 International Lane, Madison, WI, 53704.
- As of 2020, the non-profit has 49 employees reported on their 990 form.
- Does not operate a hospital.
- Does not operate a school.
- Does not collect art.
- Does not provide credit counseling.
- Does not have foreign activities.
- Is not a donor-advised fund.
- Is not a private foundation.
- Expenses are between $500,000 and $1,000,000+.
- Revenue is greater than $1,000,000.
- Revenue less expenses is $27,803,673.
- The compensation policy for the CEO of the organization is established through a review and endorsement from an independent source.
- The organization has a written policy that describes how long it will retain documents.
- The organization has 8 independent voting members.
- The organization was formed in 1967.
- The organization has a written policy that addresses conflicts of interest.
- The organization is required to file Schedule J.
- The organization is required to file Schedule O.
- The organization pays $7,067,795 in salary, compensation, and benefits to its employees.
- The organization pays $0 in fundraising expenses.
- The organization provides Form 990 to its governing body.
- The organization pays grants to individuals.
- The organization has minutes of its meetings.
- The organization has a written whistleblower policy.
- The organization's financial statements were reviewed by an accountant.