Nonprofit · EIN 81-2898004
UMUC VENTURES INC
Tax-exempt · BETHESDA, MD 20814
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $50,960,758 | $52,111,477 | -$1,150,719 | $43,587,547 | $4,706,731 | $38,880,816 |
| June 30, 2024 | 990 | $50,739,113 | $51,469,395 | -$730,282 | $44,486,124 | $5,023,323 | $39,462,801 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $50,477,424
- Investment income
- $420,383
- Royalties
- $62,951
- Other revenue
- $62,951
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $3,294,239
- Other salaries and wages
- $21,942,861
- Salaries, compensation and benefits (total)
- $32,965,452
- Professional fundraising fees
- $0
- Legal fees
- $209,189
- Accounting fees
- $269,334
- Occupancy
- $45,596
- Travel
- $439,352
- Depreciation
- $60,455
- Program services (functional)
- $46,337,246
- Management and general (functional)
- $5,774,231
Balance sheet and other
- Total assets, start of year
- $44,486,124
- Total assets, end of year
- $43,587,547
- Total liabilities, end of year
- $4,706,731
- Net assets, end of year
- $38,880,816
- Land, buildings and equipment
- $450,168
- Publicly traded securities
- $15,755,736
- Gross receipts
- $50,960,758
- Employees
- 219
- Volunteers
- 2
- Year formed
- 2016
- State of legal domicile
- MD
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| ASHISH PATEL | PORTFOLIO PRESIDENT/CIO Officer | 40 | $488,700 | $25,480 |
| DAVID CUMBERBATCH THRU 0624 | FORMER CHIEF EXECUTIVE OFFICER Former | 40 | $469,209 | $19,633 |
| TIMOTHY BROWN THRU 0924 | CHIEF FINANCIAL OFFICER Officer | 40 | $325,130 | $18,128 |
| VIDHYA SAGAR RAJU SAGIRAJU | VP, PLATFORM ENGINEERING Key employee | 40 | $302,526 | $31,717 |
| NICHOLE MCDONALD | VP, HUMAN RESOURCES Key employee | 40 | $303,161 | $26,523 |
| DENISE DYER | AVP, CRM Highest-paid employee | 40 | $276,796 | $26,101 |
| BARRY SUGARMAN | VP, LEARNING PLATFORMS Key employee | 40 | $262,823 | $23,900 |
| MICHEAL PROKSCH | CHIEF SCIENTIST Highest-paid employee | 40 | $253,899 | $24,803 |
| TULIO LAGOS | VP, OPERATIONS & STRATEGY Key employee | 40 | $238,068 | $23,918 |
| FEDOR VASQUEZ | VP, DIGITAL PRODUCT DESIGN & TECHNOLOGY Highest-paid employee | 40 | $219,726 | $19,627 |
| GARY WILLIAM KOHLHEIM | VP, IT SUPPORT OPERATIONS Key employee | 40 | $224,180 | $14,651 |
| SHANKAR DAKSHNAMOORTHY | AVP, STUDENT INFORMATION SYSTEMS DIGITAL PLATFORMS Highest-paid employee | 40 | $208,517 | $22,090 |
| BRIAN GNATT | AVP, ENGAGEMENT PLATFORMS Highest-paid employee | 40 | $207,676 | $22,793 |
| WILLIAM ROBERTS | BOARD MEMBER Trustee or director | 5 | $100,000 | $0 |
| LAWRENCE E LEAK | BOARD MEMBER Trustee or director | 5 | $93,069 | $0 |
6 more people on this return
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| RUBEN TERRAZAS THRU 1224 | CHIEF FINANCIAL OFFICER Officer | 40 | $81,854 | $3,547 |
| CASSIE STROM | BOARD MEMBER Trustee or director | 5 | $80,000 | $0 |
| LAWRENCE GRAHAM | BOARD MEMBER Trustee or director | 5 | $80,000 | $0 |
| LYDIA WATERS THOMAS | BOARD MEMBER Trustee or director | 5 | $80,000 | $0 |
| JOSEPH SERGI | BOARD MEMBER Trustee or director | 5 | $0 | $0 |
| KRISTOPHYRE MCCALL | BOARD MEMBER Trustee or director | 5 | $0 | $0 |
990 for the year ended June 30, 2024: 21 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| ASHISH PATEL | INTERIM CEO Officer | 40 | $350,827 | $20,791 |
| TIMOTHY BROWN | TREASURER, VP, STRATEGY & FIN Officer | 40 | $305,325 | $21,134 |
| NICHOLE MCDONALD | VP, HUMAN RESOURCES Key employee | 40 | $281,609 | $24,710 |
| BARRY SUGARMAN | VP, LEARNING PLATFORMS Key employee | 40 | $252,408 | $22,710 |
| PATRICK TURNER THRU 923 | VP, IT & SECURITY OPERATIONS Key employee | 40 | $258,595 | $15,663 |
| JAY COHEN THRU 923 | VP, ARCHITECTURE, INTEGRATIONS Key employee | 40 | $221,361 | $18,977 |
| FEDOR VASQUEZ | VP, DIGITAL PROD DESIGN & TECH Highest-paid employee | 40 | $210,796 | $19,544 |
| TULIO LAGOS | VP, OPERATIONS & STRATEGY Key employee | 40 | $202,705 | $22,009 |
| CHRISTOPHER TATEM | VP, SOLUTION DESIGN & DEV. Highest-paid employee | 40 | $197,441 | $22,584 |
| GARY WILLIAM KOHLHEIM | AVP, IT SUPPORT OPERATIONS Key employee | 40 | $192,645 | $13,577 |
| BRENT INSCOE | AVP, STRATEGIC COMMUNICATIONS Highest-paid employee | 40 | $189,700 | $15,194 |
| ROCCO GIANNINI | DIRECTOR, SERVER ENGINEERING Highest-paid employee | 40 | $185,407 | $13,151 |
| DOLORES VACCARO | FINANCE DIRECTOR Highest-paid employee | 40 | $180,611 | $15,127 |
| WILLIAM ROBERTS | BOARD MEMBER Trustee or director | 5 | $100,000 | $0 |
| LAWRENCE E LEAK | BOARD MEMBER Trustee or director | 5 | $91,689 | $0 |
| CASSIE STROM | BOARD MEMBER Trustee or director | 5 | $80,000 | $0 |
| LAWRENCE GRAHAM | BOARD MEMBER Trustee or director | 5 | $80,000 | $0 |
| LYDIA WATERS THOMAS | BOARD MEMBER Trustee or director | 5 | $80,000 | $0 |
| DAVID CUMBERBATCHTHRU 0624 | CHIEF EXECUTIVE OFFICER Officer | 40 | $15,987 | $274 |
| KRISTOPHYRE MCCALL | BOARD MEMBER Trustee or director | 5 | $0 | $0 |
| JOSEPH SERGI | BOARD MEMBER Trustee or director | 5 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 7315 WISCONSIN AVE, BETHESDA, MD 20814-3202
- In care of
- % RUBEN TERRAZAS
- Principal officer (990 for 2024)
- RUBEN TERRAZAS, 7315 WISCONSIN AVE 400, BETHESDA, MD 20814
- Signed the 990
- RUBEN TERRAZAS, VP, CHIEF FINANCIAL OFFICER
- Phone
- (301) 990-7898
- Website
- UMGCVENTURES.ORG
- Return prepared by
- BDO USA
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.
Program accomplishments
- 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.Expenses $46,337,246 · revenue $50,477,424
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 81-2898004
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Organization supporting a government college or university
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2016
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Education (B12)
- Assets (IRS master file)
- $43,587,547
- Income (IRS master file)
- $50,960,758
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $50,960,758 | $52,111,477 | $43,587,547 | IRS |
| 990 | June 2024 | $50,739,113 | $51,469,395 | $44,486,124 | IRS |
| 990 | June 2023 | $40,053,558 | $40,082,987 | $43,352,317 | IRS |
| 990 | June 2022 | $43,421,101 | $39,820,634 | $44,908,555 | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990 | June 2020 | – | – | – | IRS |
| 990 | June 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 81-2898004).
Questions about UMUC VENTURES INC
- What is the EIN of UMUC VENTURES INC?
- The employer identification number (EIN) of UMUC VENTURES INC is 81-2898004.
- Is UMUC VENTURES INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2016.
- Are donations to UMUC VENTURES INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does UMUC VENTURES INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of UMUC VENTURES INC due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did UMUC VENTURES INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of UMUC VENTURES INC?
- The 990 for the year ended June 30, 2025 names RUBEN TERRAZAS.
- Who are the officers and directors of UMUC VENTURES INC?
- The 990 for the year ended June 30, 2025 lists 21 people; 19 received compensation from the organization, the highest $488,700 (ASHISH PATEL, PORTFOLIO PRESIDENT/CIO).
- How much revenue does UMUC VENTURES INC have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $50,960,758, expenses of $52,111,477 and total assets of $43,587,547 at year end.
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