2023-05-13T09:44:12-05:00 2022-06-30 BDO USA LLP 8401 GREENSBORO DRIVE 800 MCLEAN VA 22102 990 2021-07-01 812898004 UMGC Ventures Inc % TIM BROWN UMGC 3019907898 7315 Wisconsin Ave Suite 400 Bethesda MD 20814 Tim Brown Treasurer 3019907898 2023-05-15 true Tim Brown 999009999 Marc Berger P01871563 7038930600 2 2021 2023-04-26 12:10:37Z Tim Brown 7315 Wisconsin Ave400 Bethesda MD 20814 43421101 false X UMUCVENTURES.ORG X 2016 MD SEE SCHEDULE O 8 7 205 0 0 0 0 0 47435503 43255258 261299 165843 0 0 47696802 43421101 0 25053 0 0 22113502 23713824 0 0 0 22094497 16081757 44207999 39820634 3488803 3600467 44098237 44908555 3762175 4116186 40336062 40792369 X SEE SCHEDULE O false false 32732985 25053 43255258 UMGC VENTURES PROVIDES INNOVATIVE TECHNOLOGY TRANSFORMATION SERVICES TO EDUCATIONAL ORGANIZATIONS, THE LARGEST BEING UMGC, THROUGH ITS OWN AND ITS SUBSIDIARY, ACCELERED, CAPABILITIES UMGC VENTURES HAS PROVIDED A PLATFORM FOR THE DELIVERY OF EDUCATIONAL SERVICES THAT WILL SERVE THE NEEDS OF HIGHER EDUCATIONAL INSTITUTIONS. UMGCV SPECIALIZE IN IMPROVING THE TECHNOLOGY INFRASTRUCTURE, SOFTWARE AND FRAMEWORK OF EDUCATIONAL ORGANIZATIONS, ALLOWING THEM TO FOCUS ON THE PRODUCTION AND DELIVERY OF DISTANCE, AND ON-LINE LEARNING TO STUDENTS WORLDWIDE. UMGC VENTURES HELPS EDUCATIONAL INSTITUTIONS TRANSFORM THEMSELVES INTO EFFECTIVE, EFFICIENT AND WELL INTEGRATED ORGANIZATIONS THAT ARE THEN ABLE TO FOCUS ON CONTENT DEVELOPMENT AND SERVICE DELIVERY. 32732985 true false false true false false false false false false true false true false false true false true false false false false false false false false false true false true false false false false false false false false false false false false true true false false false true 33 0 205 true false false false false false false false false false false false false X 8 7 false false false false false true false true true true false true true true false true false true true false MD X TIM BROWN 2024372443 7315 WISCONSIN AVE STE 400 Bethesda MD 20814 Wendelin Colby Chief Executive Officer 40.0 0.0 X X 402192 0 43885 Nichole McDonald VP, Human Resources 40.0 0.0 X 270279 0 32511 John Shin VP, Products & Software 40.0 0.0 X 250506 0 39535 Anne Kottmeier Chief Product Officer 40.0 0.0 X 252147 0 30049 Fedor Vasquez VP, Digital Product Design & T 40.0 0.0 X 185533 0 36520 Christopher Tatem Solution Design & Dev. VP 40.0 0.0 X 197494 0 22821 Jocelyn Rojeck VP, Learning Technology 40.0 0.0 X 187266 0 28095 Tulio Lagos AVP, Digital Product Mgmt & An 40.0 0.0 X 179863 0 34707 Dolores Vaccaro Finance Director 40.0 0.0 X 184604 0 20429 Tracy Harris Chief Financial Officer 40.0 0.0 X 182202 0 11186 Daniel Parker Senior Director 40.0 0.0 X 172171 0 21028 Brent Inscoe AVP, Strategic Communication 40.0 0.0 X 169013 0 19342 William Roberts Board Member 5.0 0.0 X 100000 0 0 William Zemp Board Member 5.0 0.0 X 45000 0 0 Lawrence Leak Board Member 5.0 0.0 X 40000 0 0 Lydia Waters Thomas Board Member 5.0 0.0 X 40000 0 0 Cassie Strom Board Member 5.0 0.0 X 20000 0 0 Kristophyre McCall Board Member 5.0 0.0 X 0 0 0 Joseph Sergi Board Member 5.0 0.0 X 0 0 0 2878270 0 340108 97 true true false Stefanini Inc 2700 West 11 Mile Road Tower 100 SOUTHFIELD MI 48034 Prof. Services 2010665 Sansotti 6600 Walebridge Lane AUSTIN TX 78739 Prof. Services 1352577 Regent Education Inc 19813 Leitersburg Pike 303 HAGERSTOWN MD 21742 Prof. Services 792170 Escolarea LLC 177 East Colorado Blvd 200 PASADENA CA 91105 Prof. Services 605220 3Cloud LLC 3025 Highland Parkway Suite 525 DOWNERS GROVE IL 60515 Prof. Services 603123 16 0 CONTRACT REVENUE 999999 43255258 43255258 43255258 165843 165843 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 43421101 43255258 165843 X 25053 25053 0 0 0 2151906 1855090 296816 0 15950492 13566332 2384160 1410142 1240762 169380 2706967 2202836 504131 1494317 1307387 186930 0 79959 79959 482457 482457 0 0 0 12778571 10948623 1829948 0 0 198180 198180 1905737 1586902 318835 0 44825 44825 133576 133576 0 0 0 0 20852 20852 292427 292427 OTHER EXPENSE 95892 95892 SALES TAX EXPENSE 46681 46681 BAD DEBT EXPENSE 2600 2600 39820634 32732985 7087649 0 21500873 23880417 0 0 0 0 1433394 2197271 0 0 0 0 0 0 0 0 127032 735666 159763 86454 35298 73309 12307743 10885014 0 0 8693897 7136878 0 0 0 0 44098237 44908555 2664937 4008417 0 0 1097238 107769 0 0 0 0 0 0 0 0 0 0 0 0 3762175 4116186 X 0 0 0 0 40336062 40792369 40336062 40792369 44098237 44908555 3600467 -3144160 X false true X true false X 5000000 5000000 0 0 0 10000000 0 0 5000000 5000000 0 0 0 10000000 0 10000000 59696 283289 141898 261299 1431 747613 0 0 10747613 238392821 0.93044 0.00000 X false false false false false true 92500 false false false 92500 false 0 0 0 159763 86454 73309 73309 INVESTMENT IN HELIOCAMPUS, INC 7136878 F 7136878 0 0 X SCHEDULE D, PART X, LINE 2: THE INTERNAL REVENUE SERVICE HAS ISSUED A DETERMINATION LETTER TO UMGC VENTURES THAT IT IS EXEMPT FROM INCOME TAX UNDER SECTION 501(A) AS AN ENTITY DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. FURTHER, THE DETERMINATION LETTER STATES THAT UMGC VENTURES IS NOT A PRIVATE FOUNDATION SINCE IT IS A SUPPORTING ORGANIZATION OF UMGC. UMGC VENTURES IS EXEMPT FROM TAXES ON INCOME RELATED TO ITS EXEMPT PURPOSE. UMGC VENTURES IS SUBJECT TO TAXES ON BUSINESS INCOME UNRELATED TO ITS EXEMPT PURPOSE (UBI). false UNIVERSITY SYSTEM OF MARYLAND FOUNDATION 3300 METZEROTT ROAD ADELPHI MD 20783 526002033 501(c)(3) 25000 PROGRAM SUPPORT 1 X X X true false false false false false false true false Wendelin Colby Chief Executive Officer 297192 0 105000 0 0 0 21025 0 22860 0 446077 0 0 0 Nichole McDonald VP, Human Resources 224279 0 46000 0 0 0 16424 0 16087 0 302790 0 0 0 John Shin VP, Products & Software 225506 0 25000 0 0 0 16675 0 22860 0 290041 0 0 0 Anne Kottmeier Chief Product Officer 228147 0 24000 0 0 0 16763 0 13286 0 282196 0 0 0 Fedor Vasquez VP, Digital Product Design & T 185279 0 0 0 254 0 13775 0 22745 0 222053 0 0 0 Christopher Tatem Solution Design & Dev. VP 197494 0 0 0 0 0 14354 0 8467 0 220315 0 0 0 Jocelyn Rojeck VP, Learning Technology 187266 0 0 0 0 0 13775 0 14320 0 215361 0 0 0 Tulio Lagos AVP, Digital Product Mgmt & An 159863 0 20000 0 0 0 11962 0 22745 0 214570 0 0 0 Dolores Vaccaro Finance Director 164604 0 20000 0 0 0 11962 0 8467 0 205033 0 0 0 Tracy Harris Chief Financial Officer 108817 0 0 0 73385 0 7930 0 3256 0 193388 0 0 0 Daniel Parker Senior Director 172171 0 0 0 0 0 12561 0 8467 0 193199 0 0 0 Brent Inscoe AVP, Strategic Communication 148755 0 20000 0 258 0 10875 0 8467 0 188355 0 0 0 SCHEDULE J, PART I, LINE 4a: Tracy Harris received severance in the amount of $73,385. SCHEDULE J, PART I, LINE 7: Discretionary Bonuses were issued to key employees. Form 990, Part I, Line 1 and Part III, Line 1 - Long Mission: UMGC VENTURES IS AN ORGANIZATION THAT SUPPORTS THE UNIVERSITY OF MARYLAND UNIVERSITY GLOBAL CAMPUS (UMGC). THE PURPOSE OF UMGC VENTURES IS THREEFOLD: - TO SUPPORT UMGC'S TRANSFORMATION INTO A FIRST-CLASS, MARKET-LEADING INNOVATION HUB AND THE HIGHER EDUCATION DESTINATION OF CHOICE FOR ADULT LEARNERS WISHING TO ADVANCE THEIR CAREERS. - TO CREATE A PLATFORM FROM WHICH ALL HIGHER EDUCATION, ESPECIALLY UNIVERSITY SYSTEM OF MARYLAND INSTITUTIONS, CAN LEVERAGE THE POTENTIAL OF BEST PRACTICES AND SCALE SERVICES COMMON TO THE DELIVERY OF HIGHER EDUCATION. - TO GENERATE AND CAPTURE ECONOMIC BENEFIT TO ENABLE UMGC TO INCREASE ITS CAPACITY TO DELIVER A LOW-COST, HIGH VALUE OFFERING TO ITS STUDENTS. FORM 990, PART VI, SECTION A, LINE 7: The board chair and a majority of the remaining directors of the corporation shall be appointed by the president of UMGC, which in the case of a total three (3) directors, One (1) of which shall be the UMGC chief digital officer (or equivalent) and, in the case of more than three (3), one of which shall also be the UMGC chief operating officer (or equivalent). The board chair shall appoint all other directors. The president shall serve as an ex officio director without vote and shall not be counted toward the number of directors permitted under this section or for the purposes of determining a quorum. FORM 990, PART VI, SECTION A, LINE 9: WILLIAM ZEMP, BOARD MEMBER 2707 Montcastle Ct. Durham, NC 27705 WENDELIN COLBY, CHIEF EXECUTIVE OFFICER 82 Ivy St. Apt. 5 Brookline, MA 02446 ANNE KOTTMEIER, CHIEF PRODUCT OFFICER 8303 Whiman Dr. Bethesda, MD 20817 TRACY HARRIS, CHIEF FINANCIAL OFFICER 1333 Hemlock St. NW Washington, DC 20012 JOHN SHIN, VP, PRODUCTS & SOFTWARE 7338 Heatherhill Ct. Bethesda, MD 20817 JOCELYN ROJECK, VICE PRESIDENT, LEARNING TECHNOLOGY 30334 Manhasset Dr. Bay Village, OH 44140 DANIEL PARKER, SENIOR DIRECTOR 1514 Twhisted Oak Dr. Reston, VA 20194 FORM 990, PART VI, SECTION B, LINE 11B: THE FORM 990 is made available to MEMBERS OF THE GOVERNING BODY PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C: THE ORGANIZATION WILL REVIEW THIS AS A POLICY ENFORCEMENT IMPROVEMENT INITIATIVE AND ACTION ITEM IN 2022/2023. FORM 990, PART VI, SECTION B, LINE 15 A&B: THE ORGANIZATION USES OUTSIDE CONSULTANT WHO WORKS WITH MANAGEMENT TO EVALUATE COMPENSATION LEVELS IN THE REGION. FORM 990, PART VI, SECTION C, LINE 19: THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. FORM 990 PART IX LINE 11G DESCRIPTION:CONSULTING SERVICES TOTAL FEES:10866720 FORM 990 PART IX LINE 11G DESCRIPTION:PROFESSIONAL & OTHER SERVICES TOTAL FEES:1911851 ACCELERED LLC 7315 Wisconsin Ave ste 400 Bethesda MD 20814 821765282 IT Services MD 33816524 19923263 UMGC Venture UNIVERSITY OF MARYLAND GLOBAL CAMPUS 3501 Uni Blvd East Adelphi MD 20783 526002033 Education MD NA false HELIOCAMPUS INC 7315 Wisconsin Ave Ste 400 Bethesda MD 20814 475197643 Data Analytic MD N/A C Corp -1177907 14113934 0.18400 false false true false false false false false false false false true true false true false true true true true HELIOCAMPUS INC K 48000 CASH UMGC FOUNDATION B 25000 CASH