2022-05-09T16:04:03-05:00 2021-06-30 BDO USA LLP 8401 GREENSBORO DRIVE 800 MCLEAN VA 22102 990 2020-07-01 812898004 UMGC Ventures Inc % WENDELIN J COLBY UMGC 3019907898 7315 Wisconsin Ave Suite 400 Bethesda MD 20814 Wendelin J COLBY CEO 3019907898 2022-05-05 true Wendelin J COLBY 999009999 Marc Berger P01871563 7038930600 2 2020 2022-09-23 18:48:47Z X Wendelin J COLBY 7315 Wisconsin Ave400 Bethesda MD 20814 47696802 false X UMUCVENTURES.ORG X 2016 MD SEE SCHEDULE O 1 1 247 0 0 0 0 0 48282114 47435503 36025019 261299 0 0 84307133 47696802 16000000 0 0 0 25786468 22113502 0 0 0 21894633 22094497 63681101 44207999 20626032 3488803 40633738 44098237 4291231 3762175 36342507 40336062 X SEE SCHEDULE O false false 37396454 0 47435503 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 OVER 90,000 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. 37396454 true false false false 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 47 0 247 true false false false false false false false false false false false false X 1 1 false false true false false true false true true false false true true true false true false true true false MD X WENDELIN J COLBY 3019907898 7315 WISCONSIN AVE STE 400 Bethesda MD 20814 Wendelin Colby CEO 40.0 0.0 X 376997 0 36954 TRACY SOPHIA HARRIS CFO 40.0 0.0 X 309448 0 28429 NICHOLE MCDONALD VP of Human Resources 40.0 0.0 X 246763 0 30730 JOHN SHIN VP Products & Software 40.0 0.0 X 226887 0 39271 LOUIS PUGLIESE EXECUTIVE VICE PRESIDENT 40.0 0.0 X 234485 0 13719 Gabriel Rojas Dir. Enterprise Applications 40.0 0.0 X 200641 0 37242 CHRISTOPHER TATEM Solution Design & DvlpMt, VP 40.0 0.0 X 198195 0 22497 Jason Griffith Chief Architect 40.0 0.0 X 169429 0 34328 Lauren Kohsmann Finance Director 40.0 0.0 X 179106 0 21178 DANIEL PARKER Senior Director 40.0 0.0 X 172738 0 20704 MICHAEL FOLEY CEO/Board Member 40.0 0.0 X X 156788 0 5489 TRACY WOODS AccelerEd President 40.0 0.0 X 113532 0 2728 William Roberts Board Member 5.0 0.0 X 105000 0 0 Mark Gerencser Board Member 5.0 0.0 X 100000 0 0 Douglas Lane Board Member 5.0 0.0 X 95000 0 0 Cary Pappas Board Member 5.0 0.0 X 95000 0 0 John Bates Board Member 5.0 0.0 X 95000 0 0 Gregory Nixon Board Member 5.0 0.0 X 95000 0 0 LINDA SULLIVAN Board Member 5.0 0.0 X 80000 0 0 RHONDA GERMANY Board Member 5.0 0.0 X 80000 0 0 Mark Decker Board Member 5.0 0.0 X 80000 0 0 Clark Golestani Board Member 5.0 0.0 X 80000 0 0 3490009 0 293269 100 true true false Campus Management 5201 Congress Ave BOCA RATON FL 33487 Prof. Services 3172831 Eliassen Group LLC 55 Walkers Brook Drive 6th Floor READING MA 01867 IT Staffing Svcs. 1126741 Stefanini Inc 2700 West 11 Mile Road SOUTHFIELD MI 48034 Prof. Services 1111264 Higher Digital LLC 1775 Tysons Blvd 5th Floor TYSONS VA 22102 Consulting Svcs. 877294 Regent Education Inc 19813 Leitersburg Pike 303 HAGERSTOWN MD 21742 Prof. Services 842146 26 0 CONTRACT REVENUE 999999 47435503 47435503 47435503 261299 261299 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 47696802 47435503 261299 X 0 0 0 0 0 3065523 2770523 295000 0 0 12607704 9831419 2776285 0 1717779 1459754 258025 3002338 2725346 276992 1720158 1498035 222123 0 366077 366077 519926 519926 0 0 0 17542929 16388205 1154724 0 6120 6120 215047 215047 3199598 2723172 476426 0 48843 48843 34592 34592 0 0 246 246 0 26585 26585 134534 134534 44207999 37396454 6811545 0 18537483 21500873 0 0 0 0 981938 1433394 0 0 0 0 0 0 0 0 595103 127032 100900 65602 61805 35298 11654935 12307743 0 0 8802474 8693897 0 0 0 0 40633738 44098237 3750840 2664937 0 0 540391 1097238 0 0 0 0 0 0 0 0 0 0 0 0 4291231 3762175 X 0 0 0 0 36342507 40336062 36342507 40336062 40633738 44098237 3488803 504752 X false true X true false X 15000000 5000000 5000000 0 0 25000000 0 0 15000000 5000000 5000000 0 0 25000000 0 25000000 59696 283289 141898 261299 746182 0 0 25746182 195137563 X 100900 65602 35298 35298 INVESTMENT IN HELIOCAMPUS, INC 8693897 F 8693897 0 0 X 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). X X X false false false false false false false false false NICHOLE MCDONALD VP of Human Resources 208602 0 36000 0 2161 0 15392 0 15338 0 277493 0 0 0 MICHAEL FOLEY CEO/Board Member 156095 0 0 0 693 0 5489 0 0 0 162277 0 0 0 LOUIS PUGLIESE EXECUTIVE VICE PRESIDENT 113317 0 120000 0 1168 0 8332 0 5387 0 248204 0 0 0 TRACY SOPHIA HARRIS CFO 276128 0 30917 0 2403 0 20286 0 8143 0 337877 0 0 0 TRACY WOODS AccelerEd President 20196 0 0 0 93336 0 1853 0 875 0 116260 0 0 0 JOHN SHIN VP Products & Software 225198 0 0 0 1689 0 16675 0 22596 0 266158 0 0 0 CHRISTOPHER TATEM Solution Design & DvlpMt, VP 195969 0 0 0 2226 0 14354 0 8143 0 220692 0 0 0 Gabriel Rojas Dir. Enterprise Applications 199146 0 0 0 1495 0 14646 0 22596 0 237883 0 0 0 Lauren Kohsmann Finance Director 177299 0 0 0 1807 0 13035 0 8143 0 200284 0 0 0 Wendelin Colby CEO 254622 0 120000 0 2375 0 16982 0 19972 0 413951 0 0 0 Jason Griffith Chief Architect 168280 0 0 0 1149 0 12584 0 21744 0 203757 0 0 0 DANIEL PARKER Senior Director 171594 0 0 0 1144 0 12561 0 8143 0 193442 0 0 0 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 COLLEGE (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 4 & 7A: Article III Board of Directors, Section 2. Number of Directors; Appointments; Terms of the April 2, 2021 amended Bylaws state the following: 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 purposes of determining a quorum. Effective 12/17/2021 the organization officially changed its name from UMUC Ventures, Inc. to UMGC Ventures, Inc. Form 990, Part VI, Section B, Line 11b: A COPY OF THE FORM 990 WILL BE PROVIDED TO THE ORGANIZATION'S BOARD MEMBERS 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 AND OUTSIDE CONSULTANT WHO WORKS WITH THE TALENT COMMITTEE OF THE BOARD 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:13607578 FORM 990 PART IX LINE 11G DESCRIPTION:PROFESSIONAL & OTHER SERVICES TOTAL FEES:3935351 ACCELERED LLC 7315 Wisconsin Ave ste 400 Bethesda MD 20814 821765282 IT Services MD 38513623 15548684 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 UMGC Ventures C Corp -1197526 11543035 0.20300 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