2024-05-14T10:39:11-05:00 2023-06-30 BDO USA 8401 GREENSBORO DRIVE 800 MCLEAN VA 22102 990 2022-07-01 812898004 UMGC Ventures Inc % DAVID CUMBERBATCH UMGC 3019907898 7315 Wisconsin Ave Suite 400 Bethesda MD 20814 David Cumberbatch CEO 3019907898 2024-05-14 true David Cumberbatch 999009999 Marc Berger P01871563 7038930600 2024-05-09 2 2022 2023-04-26 12:10:37Z David Cumberbatch 7315 Wisconsin Ave400 Bethesda MD 20814 40053558 false X UMGCVENTURES.ORG X 2016 MD SEE SCHEDULE O 7 5 198 0 0 0 0 0 43255258 39961542 165843 92016 0 0 43421101 40053558 25053 303 0 0 23713824 25243614 0 0 0 16081757 14839070 39820634 40082987 3600467 -29429 44908555 43352317 4116186 3421813 40792369 39930504 X SEE SCHEDULE O false false 34627068 303 39961542 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. 34627068 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 36 0 true 198 true false false false false false false false false false false false false X 7 5 false false false false false true false true false true false true true true false true false true true false MD X DAVID CUMBERBATCH 2024372443 7315 WISCONSIN AVE STE 400 Bethesda MD 20814 X WENDELIN COLBY THRU 0922 Chief executive officer 40.0 0.0 X X 366057 0 21824 NICHOLE MCDONALD VP, HUMAN RESOURCES 40.0 0.0 X 273318 0 23293 JOHN SHIN THRU 1122 VP, PRODUCTS & SOFTWARE 40.0 0.0 X 239673 0 21836 PATRICK TURNER VP, IT & SECURITY OPERATIONS 40.0 0.0 X 242564 0 16313 BARRY SUGARMAN VP, LEARNING PLATFORMS 40.0 0.0 X 229998 0 20675 CHRISTOPHER TATEM SOLUTION DESIGN & DEVELOPMENT 40.0 0.0 X 202273 0 18599 FEDOR VASQUEZ VP, DIGITAL PROD DESIGN & Tech 40.0 0.0 X 200227 0 19727 TULIO LAGOS AVP, DIGITAL PRODUCT MGT 40.0 0.0 X 181185 0 19802 TIMOTHY BROWN TREASURER, VP, STRATEGY & FIN 40.0 0.0 X 186700 0 14246 JAY COHEN VP, ARCHITECTURE, INTEGRATIONS 40.0 0.0 X 172967 0 19241 BRIAN GNATT AVP ENGAGEMENT PLATFORMS 40.0 0.0 X 169134 0 22988 BRENT INSCOE AVP, STRATEGIC COMMUNICATIONS 40.0 0.0 X 174844 0 14361 PREMKUMAR MANI SOFTWARE ARCHITECT 40.0 0.0 X 168563 0 20632 ROCCO GIANNINI DIRECTOR, SERVER ENGINEERING 40.0 0.0 X 175007 0 12550 WILLIAM ROBERTS BOARD MEMBER 5.0 0.0 X 100250 0 0 LAWRENCE E LEAK BOARD MEMBER 5.0 0.0 X 85578 0 0 LYDIA WATERS THOMAS BOARD MEMBER 5.0 0.0 X 80000 0 0 CASSIE STROM BOARD MEMBER 5.0 0.0 X 80000 0 0 LAWRENCE GRAHAM BOARD MEMBER 5.0 0.0 X 40000 0 0 WILLIAM ZEMP BOARD MEMBER (THRU 04/22) 5.0 0.0 X 26446 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 3394784 0 266087 91 true true false Ideal Tech LLC 3813 Courtland Cir ALEXANDRIA VA 22305 Prof. Services 593440 Jennifer Sheree Barsotti 6600 Walebridge Ln AUSTIN TX 78739 Prof. Services 409937 Cotton Company LLP 333 John Carlyle St Suite 500 ALEXANDRIA VA 22314 Prof. Services 343698 Tyton Partners Consulting LLC 75 Federal St Suite 200 BOSTON MA 02110 Prof. Services 282192 Whiz LLC 530-B Harkle Rd Suite 100 SANTE FE NM 87505 Prof. Services 243160 14 0 CONTRACT REVENUE 999999 39961542 39961542 39961542 92016 92016 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 40053558 39961542 92016 X 303 303 0 0 0 2712605 2429261 283344 0 16536657 14985961 1550696 1362640 1245994 116646 3211965 2632675 579290 1419747 1312915 106832 0 168252 168252 211313 211313 0 0 0 10035140 8656265 1378875 0 0 215709 215709 3645732 3271782 373950 0 48975 48975 164956 91912 73044 0 0 0 0 78134 78134 263461 263461 OTHER EXPENSE 7398 7398 40082987 34627068 5455919 0 23880417 25134686 0 0 0 0 2197271 284151 0 0 0 0 0 0 0 0 735666 389774 209636 164589 73309 45047 10885014 11968684 0 0 7136878 5220772 0 309203 0 0 44908555 43352317 4008417 3421813 0 0 107769 0 0 0 0 0 0 0 0 0 0 0 0 0 4116186 3421813 X 0 0 0 0 40792369 39930504 40792369 39930504 44908555 43352317 -29429 -832436 X false true X true false X 5000000 0 0 0 0 5000000 0 0 5000000 0 0 0 0 5000000 0 5000000 283289 141898 261299 1431 92016 779933 0 0 5779933 218310722 0.86506 0.93044 X false false false false false false false false true 120000 120000 false SCHEDULE C, PART II-B, LINE 1I: UMGC Ventures, INC. has a contractual agreement in place with a lobbying firm. 0 0 0 209636 164589 45047 45047 INVESTMENT IN HELIOCAMPUS, INC 5220772 F 5220772 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 2019 AND PRIOR. X X X false false false false false false false true false WENDELIN COLBY THRU 0922 Chief executive officer 240119 0 105000 0 20938 0 16867 0 4957 0 387881 0 21025 0 NICHOLE MCDONALD VP, HUMAN RESOURCES 211610 0 46000 0 15708 0 16675 0 6618 0 296611 0 16424 0 TIMOTHY BROWN TREASURER, VP, STRATEGY & FIN 170354 0 0 0 16346 0 12060 0 2186 0 200946 0 0 0 JOHN SHIN THRU 1122 VP, PRODUCTS & SOFTWARE 206004 0 25000 0 8669 0 15887 0 5949 0 261509 0 16675 0 BARRY SUGARMAN VP, LEARNING PLATFORMS 202510 0 24500 0 2988 0 14230 0 6445 0 250673 0 0 0 PATRICK TURNER VP, IT & SECURITY OPERATIONS 202814 0 15000 0 24750 0 16313 0 0 0 258877 0 0 0 CHRISTOPHER TATEM SOLUTION DESIGN & DEVELOPMENT 197273 0 5000 0 0 0 14354 0 4245 0 220872 0 14354 0 FEDOR VASQUEZ VP, DIGITAL PROD DESIGN & Tech 185227 0 15000 0 0 0 13775 0 5952 0 219954 0 13775 0 JAY COHEN VP, ARCHITECTURE, INTEGRATIONS 161092 0 11875 0 0 0 11020 0 8221 0 192208 0 0 0 TULIO LAGOS AVP, DIGITAL PRODUCT MGT 157463 0 10000 0 13722 0 12837 0 6965 0 200987 0 11962 0 ROCCO GIANNINI DIRECTOR, SERVER ENGINEERING 149007 0 0 0 26000 0 12550 0 0 0 187557 0 0 0 BRENT INSCOE AVP, STRATEGIC COMMUNICATIONS 155093 0 10000 0 9751 0 12040 0 2321 0 189205 0 10875 0 BRIAN GNATT AVP ENGAGEMENT PLATFORMS 169134 0 0 0 0 0 12908 0 10080 0 192122 0 0 0 PREMKUMAR MANI SOFTWARE ARCHITECT 144063 0 0 0 24500 0 12687 0 7945 0 189195 0 0 0 WILLIAM ZEMP BOARD MEMBER (THRU 04/22) 22500 0 0 0 3946 0 0 0 0 0 26446 0 0 0 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 9: WILLIAM ZEMP, BOARD MEMBER 2707 MONTCASTLE CT. DURHAM, NC 27705 WENDELIN COLBY, CHIEF EXECUTIVE OFFICER 82 IVY ST. APT. 5 BROOKLINE, MA 02446 JOHN SHIN, VP, PRODUCTS & SOFTWARE 7338 HEATHERHILL 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 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:8927172 FORM 990 PART IX LINE 11G DESCRIPTION:PROFESSIONAL & OTHER SVCS TOTAL FEES:1107968 ACCELERED LLC 7315 Wisconsin Ave ste 400 Bethesda MD 20814 821765282 IT Services MD 34229308 24390579 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 -1732535 12429427 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