MINNEAPOLIS, MN
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)ECMC EDUCATION INC, founded in 2014, is a mid-sized nonprofit in the Education sector that reported $31.6M in total revenue in fiscal year 2023. Revenue fell 27% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $18.7M, a strong 59% operating margin.
ECMC EDUCATION, INC.'S MISSION IS TO TRANSFORM CAREER AND TECHNICAL EDUCATION TO PROVIDE ASPIRING AND CURRENT LEARNERS WITH SKILLS TO ELEVATE THEIR CAREERS AND COMMUNITIES.
INSTRUCTION AND STUDENT SERVICES:ECMC EDUCATION, INC., DBA ALTIERUS CAREER COLLEGE, IS A NONPROFIT PROVIDER OF CAREER SCHOOL TRAINING IN THE POSTSECONDARY EDUCATION INDUSTRY OFFERING EDUCATIONAL...
INSTRUCTION AND STUDENT SERVICES:ECMC EDUCATION, INC., DBA ALTIERUS CAREER COLLEGE, IS A NONPROFIT PROVIDER OF CAREER SCHOOL TRAINING IN THE POSTSECONDARY EDUCATION INDUSTRY OFFERING EDUCATIONAL OPPORTUNITIES WITH AN EMPHASIS IN ALLIED HEALTH AND TRADES. ECMC EDUCATION, INC. ENGAGES WITH FACULTY, INDUSTRY LEADERS, AND EMPLOYERS TO HELP IDENTIFY SKILLS, COMPETENCIES, BEHAVIORS AND CERTIFICATIONS THAT FIT THE NEEDS OF THE MARKETPLACE AND ENHANCE EACH GRADUATE'S ABILITY TO FIND A JOB IN HIS OR HER CHOSEN FIELD. THE SCHOOLS ARE ACCREDITED TO GRANT DIPLOMA AND ASSOCIATE DEGREES. ECMC EDUCATION, INC. SERVES A NON-TRADITIONAL, UNDERSERVED STUDENT POPULATION: 65% OF ECMC EDUCATION, INC. STUDENTS ARE ELIGIBLE FOR PELL GRANTS (54% ARE ELIGIBLE FOR FULL PELL GRANTS); 73% OF ECMC EDUCATION, INC.'S STUDENT BODY IS FEMALE; 87% OF STUDENTS ARE NON-WHITE; 58% OF STUDENTS ARE OLDER THAN 25 YEARS OLD; 62% OF ECMC EDUCATION, INC.'S STUDENTS ARE FIRST-TIME, FIRST-YEAR COLLEGE STUDENTS; AND ONLY 16% OF STUDENTS DEPEND UPON THEIR PARENTS OR GUARDIANS' FINANCIAL RESOURCES. ECMC EDUCATION, INC. DELIVERS SERVICES THAT MAKE A STUDENT'S TRANSITION FROM HIGH SCHOOL TO A POSTSECONDARY INSTITUTION AS EASY AND STRAIGHTFORWARD AS POSSIBLE. ECMC EDUCATION, INC. DELIVERS A HOLISTIC LEARNING EXPERIENCE BY PROVIDING STUDENTS WITH INDIVIDUALIZED ACADEMIC SUPPORT THROUGH ACADEMIC COUNSELING, TUTORING AND REMEDIAL EDUCATION SERVICES THAT FURNISH TOOLS AND RESOURCES NECESSARY FOR SUCCESSFUL PROGRAM COMPLETION; FINANCIAL LITERACY COUNSELING TO ASSIST STUDENTS IN MANAGING THEIR STUDENT LOANS AND TO HELP MINIMIZE THEIR STUDENT LOAN DEBT; AND CAREER COUNSELING TO PROMOTE MEANINGFUL EMPLOYMENT AFTER GRADUATION IN THE STUDENT'S FIELD OF STUDY.LEARNING RESOURCE CENTERS ON ECMC EDUCATION, INC. CAMPUSES SUPPORT ACADEMIC PROGRAMS BY PROVIDING BOOKS, SHOP AND SERVICE MANUALS, PERIODICALS, COMPUTERS AND CURRICULUM-BASED ONLINE RESOURCES. THE LEARNING RESOURCE CENTERS ARE STAFFED WITH TRAINED PROFESSIONALS TO ASSIST IN THE RESEARCH NEEDS OF STUDENTS AND FACULTY.THE EDUCATION STUDENTS RECEIVE EMPHASIZES EMPLOYABILITY AND PROFESSIONAL ACCOMPLISHMENT. THE ACADEMIC AND CAREER SUCCESS OF OUR GRADUATES IS PARAMOUNT. ECMC EDUCATION, INC.'S HOLISTIC APPROACH FOCUSES ON THE GOAL OF GRADUATION AND JOB PLACEMENT, EMPHASIZING STUDENT ATTENDANCE, OVERALL ATTITUDE, ACADEMIC PERFORMANCE AND SELF-DIRECTED JOB SEARCH SKILLS ACQUIRED THROUGH WORKING WITH THE CAREER SERVICES STAFF. ECMC EDUCATION, INC.'S CAREER SERVICES EXPERTS PROVIDE STUDENTS WITH PLACEMENT ASSISTANCE, INCLUDING PREPARATION OF RESUMES AND LETTERS OF INTRODUCTION, INTERVIEWING TECHNIQUES AND JOB REFERRALS. ECMC EDUCATION, INC. CAREER SERVICES PROFESSIONALS ALSO ARRANGE ON-CAMPUS EMPLOYER VISITS, LECTURES, CAREER FAIRS AND FIELD TRIPS TO ENHANCE THE LIKELIHOOD THAT STUDENTS WILL OBTAIN WELL-PAYING JOBS. ECMC EDUCATION, INC. ALSO OFFERS STUDENT ACTIVITIES THAT ENCOURAGE SCHOOL SPIRIT AND DEVELOP STUDENT LEADERSHIP, INCLUDING INTRAMURAL SPORTS, CLUBS, PROFESSIONAL DEVELOPMENT PROGRAMS, RESOURCE FAIRS AND OTHER EXTRACURRICULAR ACTIVITIES PLANNED YEAR-ROUND. ON MARCH 31, 2022, A PLAN FOR LIQUIDATION FOR ECMC EDUCATION, INC. AND ALL THREE OF ITS ALTIERUS SCHOOLS WAS APPROVED BY THE ECMC GROUP, INC. BOARD OF DIRECTORS. THE TEACH-OUTS WERE COMPLETED DURING 2023 WITH RELATED EXPENSES BEING SETTLED THROUGH 2027. ECMC EDUCATION, INC. NO LONGER ENROLLS ANY STUDENTS AS OF DECEMBER 31, 2023. THE CHANGE IS PART OF ECMC GROUP, INC.'S PLAN TO CONCENTRATE PRIMARILY ON ITS EDUCATIONAL CREDIT MANAGEMENT CORPORATION GUARANTOR-RELATED ACTIVITIES, ECMC FOUNDATION AND EDUCATION IMPACT INVESTING.
GRANTS AND SCHOLARSHIPS:ECMC EDUCATION, INC. OFFERS THE FOLLOWING SCHOLARSHIP AND GRANT PROGRAMS TO MAKE COLLEGE AFFORDABLE FOR OUR STUDENTS: ALTIERUS GRANTS, IN IT TOGETHER SCHOLARSHIPS, EMPLOYEE...
GRANTS AND SCHOLARSHIPS:ECMC EDUCATION, INC. OFFERS THE FOLLOWING SCHOLARSHIP AND GRANT PROGRAMS TO MAKE COLLEGE AFFORDABLE FOR OUR STUDENTS: ALTIERUS GRANTS, IN IT TOGETHER SCHOLARSHIPS, EMPLOYEE AND MILITARY SCHOLARSHIPS. FUNDS ARE AVAILABLE TO PAY FOR TUITION, BOOKS AND FEES.THE ALTIERUS GRANT IS AN INSTITUTIONAL GRANT PROGRAM AWARDED ON AN ANNUAL BASIS TO STUDENTS OF ALTIERUS SCHOOLS OWNED BY ECMC EDUCATION, INC. WHO DEMONSTRATE FINANCIAL NEED. THE AMOUNT AND SOURCE OF THE GRANT, WHICH CAN BE UP TO $10,000 PER ACADEMIC YEAR, IS AVAILABLE FOR NEW AND CONTINUING STUDENTS AND MAY VARY BY STUDENT BASED ON THE DEMONSTRATED FINANCIAL ASSISTANCE NEEDED AND INSTITUTIONAL GRANT FUNDING AVAILABILITY. ALTIERUS MILITARY SCHOLARSHIPS OFFER UP TO 10% OF TUITION PER TERM OR ACADEMIC PERIOD FOR THEIR SPOUSES, AS WELL AS FOR VETERANS AND THEIR DEPENDENTS USING VA EDUCATION BENEFITS. AS OF DECEMBER 31, 2023, ECMC EDUCATION, INC. NO LONGER ENROLLS ANY STUDENTS AND VOLUNTARILY CEASED PARTICIPATION WITH TITLE IV PROGRAMS IN ALIGNMENT WITH THE PLANNED CLOSURES OF THE THREE CAMPUSES DURING 2023.
Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency
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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)
Sign In — Free (10 views/day)| 2023 | 2022 | Change | |
|---|---|---|---|
| Revenue | $31,590,718 | $43,495,652 | -0.3% |
| Expenses | $12,858,781 | $49,769,201 | -0.7% |
| Net Income | $18,731,937 | $-6,273,549 | -4.0% |
Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics
Financial Distress Indicator
Liquidity & Cash Position
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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics
Sign In| Name | Title | Hours/Week | Role | Reportable Comp | Other Comp | Total |
|---|---|---|---|---|---|---|
| DANIEL FISHER | PRESIDENT & CEO, ECMC GROUP | 0.00 |
Officer
Director
|
$0 | $126,730 | $1,395,389 |
| JAMES V MCKEON | DIRECTOR | 1.00 |
Director
|
$0 | $0 | $197,500 |
| DIANA J INGRAM | DIRECTOR | 1.00 |
Director
|
$0 | $0 | $151,250 |
| JACK O'CONNELL | DIRECTOR | 1.00 |
Director
|
$0 | $0 | $145,000 |
| JULIA S GOUW | DIRECTOR | 1.00 |
Director
|
$0 | $0 | $155,000 |
| DEREK LANGHAUSER | DIRECTOR | 1.00 |
Director
|
$0 | $0 | $137,500 |
| JAMES RUNCIE | DIRECTOR | 1.00 |
Director
|
$0 | $0 | $128,750 |
| JENNIFER ANDERSON | DIRECTOR | 1.00 |
Director
|
$0 | $0 | $148,750 |
| K PAUL SINGH | BOARD CHAIR | 1.00 |
Director
|
$0 | $0 | $141,875 |
| JACOB KASSUBA | VP, CAMPUS OPERATIONS | 40.00 |
Officer
|
$245,835 | $49,589 | $295,424 |
| JONI KURLAND | VP, ACCRED, LIC & CAMPUS COMPLIANCE | 40.00 |
Officer
|
$216,054 | $12,870 | $228,924 |
| BRIAN BOARDMAN | GENERAL COUNSEL & CORP SECRETARY | 0.00 |
Officer
|
$0 | $86,354 | $540,009 |
| MARTIN SCANLON | CFO & TREASURER | 0.00 |
Officer
|
$0 | $104,819 | $1,023,130 |
| SHARON CLAY | CAMPUS DIRECTOR-THRU 11/23 | 40.00 |
Highest
|
$207,143 | $22,956 | $230,099 |
| LYN CROSS | ASSC VP, FIN AID OPS-THRU 11/23 | 40.00 |
Highest
|
$187,856 | $29,183 | $217,039 |
| CHRISTIAN JAHNSEN | MGR, CENTRAL REGISTRAR-THRU 7/23 | 40.00 |
Highest
|
$120,341 | $12,480 | $132,821 |
| TIM DENGLER | CAMPUS DIRECTOR-THRU 4/23 | 40.00 |
Highest
|
$115,974 | $10,747 | $126,721 |
| VICTOR CORNIER | PROG CHAIR, SURGICAL TECH-THRU 11/23 | 40.00 |
Highest
|
$113,989 | $18,728 | $132,717 |
| I KING JORDAN | FORMER DIRECTOR | 0.00 |
|
$0 | $0 | $30,000 |
| JOHN F DEPODESTA | FORMER BOARD CHAIR | 0.00 |
|
$0 | $0 | $60,000 |
| JEREMY WHEATON | FORMER PRESIDENT & CEO, ECMC GROUP | 0.00 |
|
$0 | $0 | $1,622,127 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2024 | No data | No data | No data | No data |
| 2023 | $31,590,718 | $12,858,781 | $5,890,322 | $18,731,937 |
| 2022 | $43,495,652 | $49,769,201 | $11,798,068 | $-6,273,549 |
| 2021 | $59,276,530 | $51,025,086 | $8,920,568 | $8,251,444 |
| 2020 | $77,523,596 | $37,695,409 | $10,196,836 | $39,828,187 |
| 2019 | $69,741,994 | $51,953,218 | $10,222,127 | $17,788,776 |
| 2018 | $172,275,342 | $212,019,754 | $10,990,662 | $-39,744,412 |
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