Overview
What is Umgc Ventures Inc?
UMGC Ventures Inc, based at University of Maryland Global College (UMGC), is a nonprofit organization dedicated to offering technology transformation services to educational institutions, primarily UMGC. Their mission encompasses three main objectives: aiding UMGC's transition into a forward-thinking educational institution, investing in and nurturing new business ventures, and utilizing the university's assets to generate social and economic benefits. UMGC Ventures plays a pivotal role in enabling UMGC to adapt to future trends and create value from its resources.
Official website here: www.umucventures.org
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 92%, Four-Star out of Four Star rating.
Umgc Ventures Inc has achieved a Four-Star rating from Charity Navigator, reflecting a strong performance in accountability and finance. The organization scored 92% overall, primarily due to its robust governance structure, with 71% of its board members being independent. This level of independence suggests effective oversight, contributing to transparency and ethical operations within the nonprofit.
The organization demonstrates excellent practices in financial management, as evidenced by its high scores in key areas such as having an Audit and Oversight Committee and maintaining no material diversion of assets. Additionally, with an impressive program expense ratio of 84.40%, Umgc Ventures Inc allocates a substantial portion of its resources directly to its programs, indicating a commitment to fulfilling its mission.
While the financial indicators are positive, there are no noted limitations or concerns within the provided data. Overall, Umgc Ventures Inc stands out for its strong financial health and governance practices, positioning it well in the nonprofit sector.
This AI summary has been generated from information found on Charity Navigator.
Is Umgc Ventures Inc legitimate?
Umgc Ventures Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Umgc Ventures Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $2,151,906
Professional Fundraising Fees: $0
Other Salaries and Wages: $15,950,492
For more financial information, click here
Official website here: www.umucventures.org
What is the mission statement of Umgc Ventures Inc?
UMGC Ventures Inc is a supporting organization for the University of Maryland Global College (UMGC), dedicated to delivering technology transformation services to educational institutions. Its primary objectives include aiding UMGC in its transition into a forward-thinking educational institution, fostering new business ventures, and utilizing the university's resources to generate social and economic value. UMGC Ventures serves as a catalyst for UMGC's transformation and growth by investing in and incubating innovative businesses, while maximizing the university's assets to contribute positively to the educational sector.
Official website here: www.umucventures.org
Who is the CEO of Umgc Ventures Inc?
Tim Brown is the Chief Executive Officer of Umgc Ventures Inc. The CEO's salary of Umgc Ventures Inc is $402,192 and their total compensation is $446,077.
Official website here: www.umucventures.org
What is the revenue of Umgc Ventures Inc?
Umgc Ventures Inc's revenue in 2022 was $43,421,101.
Official website here: www.umucventures.org
Who are the executives of Umgc Ventures Inc and what are their salaries?
The average compensation at Umgc Ventures Inc during 2022 was $88,304. There are 205 employees at Umgc Ventures Inc.
Here are 19 key members and their salaries (Umgc Ventures Inc's CEO's salary is $402,192 and their total compensation is $446,077):
- Compensation: $402,192
- Related: $0
- Other: $43,885
- Compensation: $270,279
- Related: $0
- Other: $32,511
- Compensation: $250,506
- Related: $0
- Other: $39,535
- Compensation: $252,147
- Related: $0
- Other: $30,049
- Compensation: $185,533
- Related: $0
- Other: $36,520
- Compensation: $197,494
- Related: $0
- Other: $22,821
- Compensation: $187,266
- Related: $0
- Other: $28,095
- Compensation: $179,863
- Related: $0
- Other: $34,707
- Compensation: $184,604
- Related: $0
- Other: $20,429
- Compensation: $182,202
- Related: $0
- Other: $11,186
- Compensation: $172,171
- Related: $0
- Other: $21,028
- Compensation: $169,013
- Related: $0
- Other: $19,342
- Compensation: $100,000
- Related: $0
- Other: $0
- Compensation: $45,000
- Related: $0
- Other: $0
- Compensation: $40,000
- Related: $0
- Other: $0
- Compensation: $40,000
- Related: $0
- Other: $0
- Compensation: $20,000
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.umucventures.org
Where can I find the form 990 for Umgc Ventures Inc?
Umgc Ventures Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.umucventures.org
Learn more at the official website: www.umucventures.org
Mission Statement of Umgc Ventures Inc
UMGC Ventures Inc, a supporting organization of the University of Maryland Global College (UMGC), is on a mission to facilitate technological advancements within educational institutions, with UMGC being the primary beneficiary. UMGC Ventures serves three essential purposes: first, it aids UMGC in its evolution into a forward-thinking educational institution; second, it invests in and nurtures new business ventures; third, it harnesses the university's resources to generate social and economic value. UMGC Ventures plays a pivotal role in UMGC's transformation, ensuring the university remains at the forefront of modern education. By providing innovative technology solutions, UMGC Ventures sets the stage for UMGC to adapt to the ever-changing educational landscape and meet the needs of a diverse student body. Additionally, the organization's investment in new business ventures fosters a culture of innovation and entrepreneurship, creating opportunities for growth within UMGC and beyond. Leveraging the university's resources, UMGC Ventures aims to create meaningful impacts, both internally and externally, contributing to the university's goal of making a difference in the world of education.
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Impact
October, 2024
Umgc Ventures Inc significantly impacts educational organizations by providing innovative technology transformation services, primarily supporting the University of Maryland Global College (UMGC). The organization plays a crucial role in UMGC’s evolution into a future-focused institution, ensuring that it remains relevant and effective in meeting the needs of modern learners.
By investing in and incubating new business ventures, Umgc Ventures fosters an environment of innovation that not only enhances educational delivery but also contributes to the broader educational ecosystem. This strategic focus on leveraging the university's resources aims to create substantial social and economic value, thereby enriching communities and facilitating access to quality education.
Through its initiatives, Umgc Ventures strengthens educational frameworks, empowering institutions to adapt to changing demands while generating new opportunities for students and stakeholders alike. This multifaceted approach highlights Umgc Ventures' commitment to driving meaningful change in the education sector while supporting the sustainable growth and development of UMGC and its affiliates.
This information is meant to be a general summary of Umgc Ventures Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $165,843
- Program Service Revenue: $43,255,258
- Gross Receipts: $43,421,101
Assets and Liabilities:
- Total Assets: $44,908,555
- Total Liabilities: $4,116,186
- Net Assets: $40,792,369
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
CONTRACT REVENUE
Revenue
$43,255,258
Organization Details
Founding Year
2016
Phone
(301) 990-7898Principal Officer
Tim Brown
Main Address
7315 Wisconsin Ave Suite 400, Bethesda, MD, 20814
Website
www.umucventures.orgNTEE Category
Code: B12 - Education
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