2018-05-15T13:35:10-05:00 2017-06-30 BDO USA LLP 8401 GREENSBORO DRIVE 800 MCLEAN VA 22102 990 2016-07-01 812898004 UMUC Ventures Inc % MICHAEL ROARK UMUC 3019907898 7315 Wisconsin Ave Suite 400 Bethesda MD 20814 MICHAEL ROARK CEO 3019907898 2018-05-02 true Jeffrey J Schragg P00234543 7038930600 2016 2022-09-23 18:48:47Z X MICHAEL ROARK 7315 Wisconsin Ave STE 400 Bethesda MD 20814 0 false X UMUCVENTURES.ORG X 2016 MD SEE SCHEDULE O 11 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1076484 0 0 0 0 930450 0 2006934 0 -2006934 0 13192076 0 199010 0 12993066 X SEE SCHEDULE O false false 1609855 The organizations exempt purpose is to serve as a supporting organization to UMUC. UMUC offers more than 30 undergraduate degree programs. Its classes are offered online and in the classroom but at locations and at times that are convenient for nontraditional students. Through its online programs, UMUC is a leading provider of higher education classes to members of the United States Military. UMUC Ventures will own and manage organizations that will advance the stated purpose above. During the 2017 tax year, the organization commenced operations, assembled its board of directors, and contracted legal and marketing services to explore potential opportunities. 1609855 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 false false false false false false false false false false false false false true true true false false false true 20 0 true 0 false false false false false false false false false false X 11 0 false false false false false false false true true false false true true true true false false false false false MD X MICHAEL ROARK 3019907898 7315 WISCONSIN AVE STE 400 BETHESDA MD 20814 X CARY PAPPAS BOARD MEMBER 4.0 0.0 X 23750 0 0 CLARK GOLESTANI BOARD MEMBER 3.0 0.0 X 20000 0 0 DOUG LANE BOARD MEMBER 4.0 0.0 X 23750 0 0 GREGORY NIXON BOARD MEMBER 4.0 0.0 X 23750 0 0 JOHN A BATES BOARD MEMBER 4.0 0.0 X 23750 0 0 LINDA SULLIVAN BOARD MEMBER 3.0 0.0 X 20000 0 0 MARK DECKER BOARD MEMBER 3.0 0.0 X 20000 0 0 MARK GERENCSER BOARD MEMBER 4.0 0.0 X 25000 0 0 MIKE FOLEY BOARD MEMBER 3.0 0.0 X 20000 0 0 RHONDA GERMANY BOARD MEMBER 3.0 0.0 X 20000 0 0 WILLIAM ROBERTS BOARD MEMBER 3.0 0.0 X 20000 0 0 MICHAEL ROARK CEO (SINCE 05/17) 40.0 0.0 X 0 0 0 W DALE YOUNG PRES. ACCELERED (SINCE 06/17) 40.0 0.0 X 0 0 0 240000 0 0 11 false false false FRANK STRATEGIC MARKETING 803 OELLA AVENUE ELLICOTT CITY MD 21043 MARKETING SERVICES 230857 COOLEY LLP 101 CALIFORNIA STREET 5TH FLOOR SAN FRANCISCO CA 94111 LEGAL SERVICES 167943 BEECHER REAGAN ADVISORS LLC 801 TRAVIS ST STE 1600 HOUSTON TX 77002 RECRUITING SERVICES 254712 TRIBRIDGE PARTNERS LLC 1 E PRATT ST BALTIMORE MD 21202 HR ADVISORY SERVICES 118463 4 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1064038 855538 208500 0 0 0 0 6282 5026 1256 0 6164 4931 1233 0 0 190708 152566 38142 0 28674 22939 5735 0 0 0 0 624841 499873 124968 25250 20200 5050 0 2539 2031 508 0 7494 5995 1499 0 0 33131 26505 6626 0 7344 5875 1469 0 0 0 0 0 127 102 25 0 10342 8274 2068 0 2006934 1609855 397079 0 0 3170701 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 14558 4444 127 0 4317 0 0 0 0 0 10000000 0 0 0 2500 0 13192076 0 199010 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 199010 X 0 0 0 15000000 0 -2006934 0 12993066 0 13192076 X -2006934 15000000 X false true X true false X 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 4444 127 4317 4317 INVESTMENT IN RELATED PARTY 10000000 F 10000000 0 0 X PART X, LINE 2: The Internal Revenue Service (IRS) has issued a determination letter to UMUC 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 (the Code). Further, the determination letter states that UMUC Ventures is not a private foundation since it is a supporting organization for UMUC. UMUC Ventures is exempt from taxes on income related to its exempt purpose. UMUC Ventures is subject to taxes on income unrelated to its exempt purpose (UBI). Such income consists primarily of income derived from data analytics. HelioCampus and AccelerED are subject to corporate income taxes on their operations and account for income taxes in accordance with ASC 740, Income Taxes, which provides for an asset and liability approach to accounting for income taxes. The Organization recognizes deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the Organization's consolidated financial statements and tax returns. Deferred tax assets and liabilities are determined based upon the differences between the financial statement carrying amounts and the tax basis of existing assets and liabilities and for loss and credit carryforwards, using enacted tax rates expected to be in effect in the year in which the differences are expected to reverse. Deferred tax assets are reduced by a valuation allowance if it is more likely than not that these assets will not be realized. The Organization accounts for uncertain tax positions in accordance with the provisions of ASC 740-10, Accounting for Uncertainty in Income Taxes, which states that a company must recognize the tax benefit associated with the tax positions taken for tax return purposes when it is more-likely-than-not that the position will be sustained. The Organization believes that it has no unrecognized uncertain tax positions or any related penalties and interest to accrue as of June 30, 2017. Tax years 2016 through 2017 remain subject to examination by the IRS. FORM 990, PART I, LINE 1 AND PART III, LINE 1: UMUC Ventures is a supporting organization of the University of Maryland University College (UMUC). The purpose of UMUC Ventures is threefold: - To support UMUCs 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 UMUC to increase its capacity to deliver a low-cost, high-value offering to its students. 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: Each director, principal officer and member of a committee with governing board delegated powers shall annually sign a statement which affirms such person: a. Has received a copy of the conflicts of interest policy, b. Has read and understands the policy, c. Has agreed to comply with the policy, and d. Understands the Organization is charitable and in order to maintain its federal tax exemption it must engage primarily in activities which accomplish one or more of its tax exempt purposes. 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 XI, LINE 9: CAPITAL CONTRIBUTION $15,000,000 FORM 990 PART IX LINE 11G DESCRIPTION:OTHER PROFESSIONALS TOTAL FEES:117227 FORM 990 PART IX LINE 11G DESCRIPTION:RECRUITING TOTAL FEES:255211 FORM 990 PART IX LINE 11G DESCRIPTION:CONSULTING TOTAL FEES:252403 ACCELERED LLC 7315 WISCONSIN AVE STE 400 BETHESDA MD 20814 821765282 IT SERVICES MD 0 90205 UMUC VENTURE UNIVERSITY OF MARYLAND UNIV COLLEG 3501 UNIVERSITY BOULEVARD EAST ADELPHI MD 20783 526002033 EDUCATION MD NA false HELIOCAMPUS INC 7315 WISCONSIN AVE STE 400 BETHESDA MD 20814 475197643 DATA ANALYTIC SVC MD UMUC VENTURES C CORP 687826 7217575 1.00000 true false false true false false false false false false false true true true false true true false false false