Educational Credit Management Corporation
111 Washington Ave s1400, Minneapolis, MN · IRS data through FY2024
Revenue, expenses and net assets
Revenue Expenses Net assets
| Tax year | Revenue | Expenses | Net assets |
|---|---|---|---|
| FY2024 | $264,998,856 | $261,591,267 | $41,886,077 |
| FY2023 | $318,087,346 | $362,056,007 | $38,476,488 |
| FY2022 | $361,979,726 | $338,613,468 | $82,445,149 |
| FY2021 | $424,071,754 | $374,401,993 | $59,078,891 |
| FY2020 | $274,395,445 | $293,177,543 | $9,408,524 |
| FY2019 | $322,133,758 | $320,180,510 | $28,190,622 |
| FY2018 | $370,174,232 | $351,286,093 | $26,237,374 |
| FY2017 | $405,151,558 | $435,118,916 | $7,349,235 |
| FY2016 | $403,557,200 | $403,193,648 | $37,316,593 |
| FY2015 | $428,120,064 | $394,886,972 | $42,901,549 |
| FY2014 | $391,897,959 | $411,988,700 | $2,638,238 |
| FY2013 | $455,413,491 | $523,114,742 | $23,612,258 |
| FY2012 | $426,602,413 | $575,602,745 | $81,826,745 |
| FY2011 | $383,140,483 | $295,529,395 | $230,827,077 |
Form 990 filings
The returns filed by Educational Credit Management Corporation (EIN 41-1778617), including Form 990 PDFs and e-file data by year, are available in ProPublica's Nonprofit Explorer. The figures on this page come from IRS data files built from those returns.
Where the revenue came from
| Source | Amount | % of revenue |
|---|---|---|
| Contributions & grants | $14,611,000 | 6% |
| Program service revenue | $249,023,650 | 94% |
| Other revenue | $1,364,206 | 1% |
Where the money was spent
| Category | Amount | % of expenses |
|---|---|---|
| Program services | $214,059,087 | 82% |
| Management & general | $47,532,180 | 18% |
| Fundraising | $0 | 0% |
What the numbers show
- Program service revenue made up 94% of total revenue in FY2024.
- Program services accounted for 82% of functional expenses, management & general 18%, and fundraising 0%.
- 82% of functional expenses went to program services in FY2024. That is higher than 41.1% of 185 Public & Societal Benefit organizations nationwide (too few in MN for a state comparison).
- Net assets covered about 1.9 months of expenses at the end of the reporting year. That puts it in the 9th percentile among 121 Public & Societal Benefit organizations in MN.
- Total revenue was the highest among 121 Public & Societal Benefit organizations in MN.
- Total revenue fell from $383,140,483 in FY2011 to $264,998,856 in FY2024. Revenue increased in 5 and decreased in 8 of 13 year-over-year comparisons.
- Expenses exceeded revenue in 6 of 14 reported years (FY2012, FY2013, FY2014, FY2017, FY2020, FY2023).
- The highest revenue on record here is $455,413,491 in FY2013.
- Net assets declined from $230,827,077 to $41,886,077 between FY2011 and FY2024.
- Contributions and grants made up 0% of revenue in FY2011 and 6% in FY2024.
- Listed in the IRS Publication 78 data as eligible to receive tax-deductible contributions (public charity).
Figures compared against other organizations of the same NTEE program area in the same state. See the methodology page for how these are calculated and the guide to reading nonprofit financials for their limits.
About this organization
PROVIDES FINANCIAL COUNSELING AND EDUCATION TO EMPOWER STUDENTS TO MAKE BETTER CHOICES ABOUT THEIR FUTURES.
IRS status
| Ruling year | 1995 |
| Subsection | 501(c)(3) |
| Classification | Public charity |
| Program area (NTEE) | W600 — Public & Societal Benefit |
| Donations | Listed in the IRS Publication 78 data as eligible to receive tax-deductible contributions (public charity). |
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Source: Internal Revenue Service — Exempt Organizations Business Master File (downloaded November 4, 2026), Statistics of Income extracts, Form 990 e-file data, Publication 78 and the Automatic Revocation list. Figures are as reported by the organization; IRS processing may adjust them. This is not a charity rating and not tax advice. Confirm deductibility in IRS Tax Exempt Organization Search.
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