2025-05-14T16:08:17-05:00 2024-06-30 BDO USA 8401 GREENSBORO DRIVE 800 MCLEAN VA 22102 990 2023-07-01 812898004 UMGC Ventures Inc % RUBEN TERRAZAS UMGC 3019907898 7315 Wisconsin Ave Suite 400 Bethesda MD 20814 RUBEN TERRAZAS VP, FINANCE 3019907898 2025-05-14 true true TODD TERESCO P00247720 7038930600 2023 2025-03-06 01:10:19Z ASHISH PATEL 7315 Wisconsin Ave400 Bethesda MD 20814 50739113 false X UMGCVENTURES.ORG X 2016 MD SEE SCHEDULE O 7 7 200 0 0 0 0 0 39961542 50127814 92016 579403 0 31896 40053558 50739113 303 345 0 0 25243614 30543405 0 0 0 14839070 20925645 40082987 51469395 -29429 -730282 43352317 44486124 3421813 5023323 39930504 39462801 X SEE SCHEDULE O false false 43979691 345 50127814 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. 43979691 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 false false true false false false false false false false false false false false false true true false false false true 30 0 true 200 true false false false false false false false false false false false false X 7 7 false false false false false true false true false true false true true true false true false true true false MD X RUBEN TERRAZAS 3125054211 7315 WISCONSIN AVE STE 400 Bethesda MD 20814 X ASHISH PATEL INTERIM CEO 40.0 0.0 X 350827 0 20791 TIMOTHY BROWN TREASURER, VP, STRATEGY & FIN 40.0 0.0 X 305325 0 21134 NICHOLE MCDONALD VP, HUMAN RESOURCES 40.0 0.0 X 281609 0 24710 BARRY SUGARMAN VP, LEARNING PLATFORMS 40.0 0.0 X 252408 0 22710 PATRICK TURNER THRU 923 VP, IT & SECURITY OPERATIONS 40.0 0.0 X 258595 0 15663 JAY COHEN THRU 923 VP, ARCHITECTURE, INTEGRATIONS 40.0 0.0 X 221361 0 18977 FEDOR VASQUEZ VP, DIGITAL PROD DESIGN & TECH 40.0 0.0 X 210796 0 19544 TULIO LAGOS VP, OPERATIONS & STRATEGY 40.0 0.0 X 202705 0 22009 CHRISTOPHER TATEM VP, SOLUTION DESIGN & DEV. 40.0 0.0 X 197441 0 22584 GARY WILLIAM KOHLHEIM AVP, IT SUPPORT OPERATIONS 40.0 0.0 X 192645 0 13577 BRENT INSCOE AVP, STRATEGIC COMMUNICATIONS 40.0 0.0 X 189700 0 15194 ROCCO GIANNINI DIRECTOR, SERVER ENGINEERING 40.0 0.0 X 185407 0 13151 DOLORES VACCARO FINANCE DIRECTOR 40.0 0.0 X 180611 0 15127 WILLIAM ROBERTS BOARD MEMBER 5.0 0.0 X 100000 0 0 LAWRENCE E LEAK BOARD MEMBER 5.0 0.0 X 91689 0 0 CASSIE STROM BOARD MEMBER 5.0 0.0 X 80000 0 0 LAWRENCE GRAHAM BOARD MEMBER 5.0 0.0 X 80000 0 0 LYDIA WATERS THOMAS BOARD MEMBER 5.0 0.0 X 80000 0 0 DAVID CUMBERBATCHTHRU 0624 CHIEF EXECUTIVE OFFICER 40.0 0.0 X 15987 0 274 KRISTOPHYRE MCCALL BOARD MEMBER 5.0 0.0 X 0 0 0 JOSEPH SERGI BOARD MEMBER 5.0 0.0 X 0 0 0 3477106 0 245445 97 false true false IDEAL TECH LLC 3813 COURTLAND CIRCLE ALEXANDRIA VA 22305 IT Services 747960 ACCENTURE LLP 1255 TREAT BOULEVARD SUITE 250 WALNUT CREEK CA 94597 Consulting Services 457500 ELIASSEN GROUP LLC 55 WALKERS BROOK DRIVE 6TH FLOOR READING MA 01867 Consulting Services 163155 WORLDBRIDGE PARTNERS HARTFORD LLC 229 JONES HOLLOW ROAD MARLBOROUGH CT 06447 Recruitment Agency 126000 WENDELIN JEAN COLBY 2 CIDER MILL ROAD FRAMINGHAM MA 01701 Prof. Services 122588 9 0 CONTRACT REVENUE 999999 50127814 50127814 50127814 579403 579403 0 31896 31896 0 0 0 0 0 0 0 0 0 0 0 0 0 0 50739113 50127814 611299 345 345 0 0 0 2991472 2601738 389734 0 20534462 17912536 2621926 1598635 1428320 170315 3701674 3065246 636428 1717162 1556315 160847 0 165696 165696 221666 221666 135000 135000 0 0 14789382 13148906 1640476 0 0 269728 269728 4306315 3788019 518296 0 55029 55029 364959 343266 21693 0 0 0 0 138248 138248 244334 244334 IMPAIRMENT LOSS 199487 199487 OTHER EXPENSE 35801 35801 51469395 43979691 7489704 0 25134686 14967002 0 0 0 0 284151 4807028 0 0 0 0 0 0 0 0 389774 342020 571441 502322 45047 69119 11968684 20722450 0 0 5220772 3537712 309203 0 0 40793 43352317 44486124 3421813 5023323 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 3421813 5023323 X 0 0 0 0 39930504 39462801 39930504 39462801 43352317 44486124 -730282 262579 X false true X true false X 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 141898 261299 1431 92016 579403 1076047 0 0 1076047 229062231 0.00000 0.86506 X 0.00000 false false false false false false false false true 135000 135000 false SCHEDULE C, PART II-B, LINE 1I: DURING FY2024 UMGC VENTURES, INC. HAD A CONTRACTUAL AGREEMENT IN PLACE WITH TWO LOBBYING FIRMS. 571441 502322 69119 69119 INVESTMENT IN HELIOCAMPUS, INC 3537712 F 3537712 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). MANAGEMENT HAS EVALUATED THE ORGANIZATION'S TAX POSITIONS AND HAS CONCLUDED THAT THE ORGANIZATION HAS TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE CONSOLIDATED FINANCIAL STATEMENTS, THE ORGANIZATION IS GENERALLY NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY U.S. FEDERAL, STATE OR LOCAL TAX AUTHORITIES FOR YEARS 2020 AND PRIOR. X X X X true false false false false false false true false ASHISH PATEL INTERIM CEO 280202 0 40625 0 30000 0 20377 0 414 0 371618 0 0 0 TIMOTHY BROWN TREASURER, VP, STRATEGY & FIN 227642 0 50000 0 27683 0 18564 0 2570 0 326459 0 16346 0 NICHOLE MCDONALD VP, HUMAN RESOURCES 219659 0 46000 0 15950 0 17320 0 7390 0 306319 0 15708 0 PATRICK TURNER THRU 923 VP, IT & SECURITY OPERATIONS 201419 0 33750 0 23426 0 13647 0 2016 0 274258 0 24750 0 BARRY SUGARMAN VP, LEARNING PLATFORMS 210166 0 42000 0 242 0 15594 0 7116 0 275118 0 2988 0 JAY COHEN THRU 923 VP, ARCHITECTURE, INTEGRATIONS 177861 0 43500 0 0 0 11196 0 7781 0 240338 0 0 0 FEDOR VASQUEZ VP, DIGITAL PROD DESIGN & TECH 190796 0 20000 0 0 0 14131 0 5413 0 230340 0 0 0 TULIO LAGOS VP, OPERATIONS & STRATEGY 169854 0 18000 0 14851 0 13893 0 8116 0 224714 0 13722 0 CHRISTOPHER TATEM VP, SOLUTION DESIGN & DEV. 197441 0 0 0 0 0 14644 0 7940 0 220025 0 0 0 GARY WILLIAM KOHLHEIM AVP, IT SUPPORT OPERATIONS 178665 0 4000 0 9980 0 13577 0 0 0 206222 0 0 0 BRENT INSCOE AVP, STRATEGIC COMMUNICATIONS 162264 0 17000 0 10436 0 12624 0 2570 0 204894 0 0 0 ROCCO GIANNINI DIRECTOR, SERVER ENGINEERING 157407 0 2000 0 26000 0 13151 0 0 0 198558 0 0 0 DOLORES VACCARO FINANCE DIRECTOR 173111 0 7500 0 0 0 12596 0 2531 0 195738 0 0 0 SCHEDULE J, PART I, LINE 4: PATRICK TURNER; SEPARATION AGREEMENT EFFECTIVE 22-SEP-2023; SEVERANCE BENEFITS: $35,653.88 CONTINUATION OF BI-WEEKLY BASE SALARY FOR 4 PAY PERIODS. JAY COHEN; SEPARATION AGREEMENT EFFECTIVE 22-SEP-2023; SEVERANCE BENEFITS: $30,107.72 CONTINUATION OF BI-WEEKLY BASE SALARY FOR 4 PAY PERIODS. 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 7A: 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 8A&8B: THE ORGANIZATION HAS NOT ESTABLISHED COMMITTEES. FORM 990, PART VI, SECTION A, LINE 9: DAVID CUMBERBATCH, CEO 3855 SEA OAKS CIRCLE DAVENPORT, IA 52807 TIMOTHY BROWN, VP STRATEGY & FINANCE 6713 LORING CT BETHESDA, MD 20817 JAY COHEN, VP ARCHITECTURE 34 SUNNY LANE SANFORD, ME 04073 PATRICK TURNER, VP INFORMATION TECHNOLOGY 6164 WERTZ STREET DAVISBURG, MI 48350 BRENT INSCOE, AVP STRATEGIC COMMUNICATION 3543 HERTFORD PLACE, NW WASHINGTON, DC 20010 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 15 A&B: THE ORGANIZATION USES VARIOUS OUTSIDE INDEPENDENT CONSULTANTS 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:13284352 FORM 990 PART IX LINE 11G DESCRIPTION:PROFESSIONAL & OTHER SVCS TOTAL FEES:1505030 ACCELERED LLC 7315 WISCONSIN AVE STE 400 BETHESDA MD 20814 821765282 IT SERVICES MD 44123902 16959834 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 NA C Corp -1499484 11064107 0.18400 false false false false false false false false false false false true true false true false true true true true HELIOCAMPUS INC K 48000 CASH