Civic Intelligence

Uma Education Inc.

990 • Fiscal year 2016 • EIN 47-2578950

Jan 01, 2016 to Dec 31, 2016 • Filed on Nov 14, 2017

3101 Wdrmartin Luther King JrblvdTampa, FL 33607

(813) 898-2588

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

91st percentile

0.92x

Higher debt load relative to assets than 91% of similar nonprofits.

2016 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2016

Liabilities / Revenue

80th percentile

1.27x

Higher debt load relative to revenue than 80% of similar nonprofits.

2016 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2016

Net Margin

57th percentile

5.8%

Higher net margin than 57% of similar nonprofits.

2016 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2016

Top Officer Pay

39th percentile

$678,540

Higher top officer pay than 39% of similar nonprofits.

Top officer pay equals 0.2% of source-year revenue.

2016 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2016

Asset Growth

68th percentile

5.9%

Faster asset growth than 68% of similar nonprofits.

2016 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2015 to 2016

Revenue Growth

95th percentile

45%

Faster revenue growth than 95% of similar nonprofits.

2016 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2015 to 2016

Assets

Up

$420,569,097

Up $23,267,142 (+5.9%) from 2015

Net Assets

Up

$35,376,843

Up $17,629,664 (+99%) from 2015

Liabilities

Up

$385,192,254

Up $5,637,478 (+1.5%) from 2015

Revenue

Up

$303,919,891

Up $94,561,494 (+45%) from 2015

Expenses

Up

$286,290,227

Up $94,679,009 (+49%) from 2015

Net Income

Down

$17,629,664

Down $117,515 (-0.7%) from 2015

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$800M$600M$400M$200M$0Assets 2014: $0Liabilities 2014: $0Net Assets 2014: $02014Assets 2015: $397,301,955Liabilities 2015: $379,554,776Net Assets 2015: $17,747,1792015Assets 2016: $420,569,097Liabilities 2016: $385,192,254Net Assets 2016: $35,376,8432016Assets 2017: $437,194,177Liabilities 2017: $373,713,656Net Assets 2017: $63,480,5212017Assets 2018: $439,692,819Liabilities 2018: $351,595,967Net Assets 2018: $88,096,8522018Assets 2019: $493,264,195Liabilities 2019: $387,765,538Net Assets 2019: $105,498,6572019Assets 2020: $546,392,502Liabilities 2020: $407,724,653Net Assets 2020: $138,667,8492020Assets 2021: $547,011,615Liabilities 2021: $393,986,009Net Assets 2021: $153,025,6062021Assets 2022: $619,812,684Liabilities 2022: $363,310,405Net Assets 2022: $256,502,2792022Assets 2023: $670,406,055Liabilities 2023: $356,972,286Net Assets 2023: $313,433,7692023Assets 2024: $743,212,636Liabilities 2024: $352,701,182Net Assets 2024: $390,511,4542024

Highlighted filing

2016

Assets$420,569,097
Liabilities$385,192,254
Net Assets$35,376,843

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$600M$400M$200M$0Revenue 2014: $0Expenses 2014: $0Net Income 2014: $02014Revenue 2015: $209,358,397Expenses 2015: $191,611,218Net Income 2015: $17,747,1792015Revenue 2016: $303,919,891Expenses 2016: $286,290,227Net Income 2016: $17,629,6642016Revenue 2017: $311,612,728Expenses 2017: $283,509,050Net Income 2017: $28,103,6782017Revenue 2018: $326,767,245Expenses 2018: $302,150,914Net Income 2018: $24,616,3312018Revenue 2019: $311,140,293Expenses 2019: $293,738,488Net Income 2019: $17,401,8052019Revenue 2020: $333,275,661Expenses 2020: $300,123,682Net Income 2020: $33,151,9792020Revenue 2021: $320,576,346Expenses 2021: $305,953,968Net Income 2021: $14,622,3782021Revenue 2022: $391,657,452Expenses 2022: $291,390,350Net Income 2022: $100,267,1022022Revenue 2023: $371,758,932Expenses 2023: $315,115,235Net Income 2023: $56,643,6972023Revenue 2024: $457,258,968Expenses 2024: $381,513,323Net Income 2024: $75,745,6452024

Highlighted filing

2016

Revenue$303,919,891
Expenses$286,290,227
Net Income$17,629,664
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Nov 14, 2017
Return Version
2016v3.0
Gross Receipts
$303,919,891
Mission and Program Overview

Mission

See schedule ouma education, inc. Operates ultimate medical academy, an educational institution committed to equipping and empowering students for healthcare careers. Headquartered in tampa and having a national presence, the organization strives to provide a learning experience that maximizes value for our students in a professional and supportive environment.

SEE SCHEDULE O

Balance Sheet Detail
LineBeginningEndChange
Assets
Intangible Assets$319,913,074$317,613,075▼ $2,299,999
Loans From Officers Directors$322,363,471$307,378,265▼ $14,985,206
Cash and Non-Interest-Bearing Accounts$43,869,983$45,118,221▲ $1,248,238
Savings and Temporary Cash Investments-$21,206,810-
Accounts Receivable$14,217,653$16,545,609▲ $2,327,956
Prepaid Expenses and Deferred Charges$10,539,220$10,164,391▼ $374,829
Land, Buildings, and Equipment, Net$6,418,528$7,755,246▲ $1,336,718
Inventories for Sale or Use$1,734,330$1,501,014▼ $233,316
Total Assets$397,301,955$420,569,097▲ $23,267,142
Other Assets Total$609,167$664,731▲ $55,564
Liabilities
Deferred Revenue$34,654,680$30,961,124▼ $3,693,556
Accounts Payable and Accrued Expenses$18,579,680$25,984,625▲ $7,404,945
Mortgage Notes Payable Secured by Investment Property$2,405,110$13,212,659▲ $10,807,549
Grants Payable$0$4,660,246▲ $4,660,246
Other Liabilities$1,551,835$2,995,335▲ $1,443,500
Total Liabilities$379,554,776$385,192,254▲ $5,637,478
Net Assets / Fund Balance
Unrestricted Net Assets$17,747,179$35,376,843▲ $17,629,664
Total Net Assets Fund Balance$17,747,179$35,376,843▲ $17,629,664
Total Liabilities and Net Assets / Fund Balance$397,301,955$420,569,097▲ $23,267,142

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$3,227,646$3,112,664$6,340,310
Other Land Buildings$2,531,194$2,031,520$4,562,714
Leasehold Improvements$1,996,406$713,812$2,710,218
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Highbloom DavidExecutive Vice PresidentFT$486,842$191,698$678,540
Apanovitch DerekPresidentFT$489,843$183,743$673,586
Rametta ThomasChief Financial OfficerFT$393,864$139,622$533,486
Janiga NicholasGeneral Counsel & SecretaryFT$253,707$269,039$522,746
Verratti MatthewExecutive Vice PresidentFT$365,989$147,786$513,775
Kemler StevenSr. Advisor/8 Months Sr. ExecutiveFT$286,282$162,097$448,379
Grzybowski AndrewVice PresidentFT$169,288$253,691$422,979
Swett Timothy WSVP, Campus OperationsFT$156,025$240,994$397,019
Edwards Susan aChief Compliance OfficerFT$288,022$103,711$391,733
Hyland Robert GSVP, Online ProgramsFT$283,891$99,776$383,667
Becker MichaelSVP, Student EngagementFT$283,399$79,167$362,566
Polin Theodore LChief Governance Officer & Board MemberFT$331,351$30,593$361,944
Polin Theodore LChief Governance Officer & Board Mem-$331,351$30,593$361,944
Schaffrath AlexandraSVP, Strategic InitiativesFT$257,491$93,434$350,925
Rains Erika MSVP, FinanceFT$242,879$102,901$345,780
Anzuoni Nicole MSr Counsel Bus. & Legal AffairsFT$229,696$74,453$304,149
Witemeyer Hazen aChief Administrative OfficerFT$261,361$14,403$275,764
Neumann AprilVP, Career ServicesFT$229,207$46,031$275,238
Mueller GregorySVP, OperationsFT$213,712$45,180$258,892
Lockhart TimSVP, Human ResourcesFT$4,363$253,986$258,349
Soschin Daniel aVP, MarketingFT$179,300$65,775$245,075
Lifschultz LowellSenior AdvisorFT$230,962$534$231,496
Kendall Sitarski Laura KAssistant SecretaryFT$159,117$1,382$160,499
Friedman RichardChairman of the BoardPT$35,000$10,000$45,000
Burghardt StephenBoard MemberPT$30,000$10,000$40,000
Hawk ChristopherBoard MemberPT$30,000$10,000$40,000
Mcdevitt SheilaBoard MemberPT$30,000$10,000$40,000
Wootten MatthewBoard MemberPT$30,000$10,000$40,000
Hoffman NewmanAssistant SecretaryFT$35,735$740$36,475
Swift JaneBoard MemberPT$7,092$2,364$9,456

Highest Paid Contractors

ContractorServicesLocationCompensation
Google INCRecruiting Support1600 AMPHITHEATRE PKWY, Mountain View, CA 94043$5,522,531
Educationdynamics LLCRecruiting Support5 MARINE VIEW PLAZA SUITE 212, Hoboken, NJ 07030$3,080,552
Bookmasters INCBooks Warehousing And Fulfillment30 AMBERWOOD PARKWAY, Ashland, OH 44805$3,006,153
Integritas CommunicationsEducational Partner51 TALBOT ROAD, Harriman, NY 10926$2,921,189
All Star Directories INCRecruiting Support101 STEWART STREET 500, Seattle, WA 98101$2,476,147
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$303,778,096
Investment Income
$16,795
Other Revenue
$125,000
Change in Net Assets
$17,629,664
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$141,480,381
Salaries, Compensation, and Employee Benefits$120,711,398
Grants and Similar Amounts Paid$24,098,448
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$90,436,458$7,780,599-$98,217,057
Advertising$29,091,299$22,653-$29,113,952
Grants to Domestic Individuals$24,098,448--$24,098,448
Interest$17,449,989--$17,449,989
Fees for Services Other$6,680,783$1,810,740-$8,491,523
Current Officers, Directors, Trustees, and Key Employees$3,678,534$4,749,780-$8,428,314
Payroll Taxes$7,195,953$98,299-$7,294,252
Occupancy$6,549,803$674,434-$7,224,237
Other Employee Benefits$5,520,821$463,745-$5,984,566
Depreciation Depletion$5,669,713--$5,669,713
Other Expenses$5,416,890--$5,416,890
Information Technology$3,525,634$1,226,503-$4,752,137
Office Expenses$1,700,518$831,626-$2,532,144
All Other Expenses$979,673$690,365-$1,670,038
Travel$702,680$900,572-$1,603,252
Insurance$644,196$283,391-$927,587
Fees for Services Legal$93,025$718,974-$811,999
Comp Disqual Persons-$406,122-$406,122
Pension Plan Contributions$327,422$53,665-$381,087
Fees for Services Accounting-$209,303-$209,303
Conferences and Meetings$69,929$64,277-$134,206
Total Functional Expenses$265,305,179$20,985,048$0$286,290,227
International Activity

International Summary

Offices
0
Employees
0
Spending
$0

International Compliance

Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
North AmericaProgram ServicesAccme and Ancc Certification00-
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-See Part VSee Part VNo$260,000
-See Part VSee Part VNo$135,927
-See Part VSee Part VNo$125,000

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$322,363,471$307,378,265▼ $14,985,206
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deferred Rent$2,995,335
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
Yes
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

Steven kemler and lowell lifschultz have a business relationship.

Form 990, Part VI, Section A, Line 6

Clinical and patient educators association ("cpea") is the sole member of the organization.

Form 990, Part VI, Section A, Line 7A

Cpea has the right to elect the members of the board of directors of the organization.

Form 990, Part VI, Section A, Line 7B

Certain major governance decisions of the organization require approval of cpea, the sole member of the organization. Specifically, the board of directors of the organization must obtain the approval of cpea before executing any agreement of merger or consolidation, approving the dissolution of the organization, or approving the sale or exchange of all or substantially all of the assets of the organization.

Form 990, Part VI, Section B, Line 11B

Management worked with an outside accountant to prepare the form 990. Management reviewed the draft form 990 with the outside accountant. A finalized draft of the full form 990 is provided to the whole board prior to its filing with the irs.

Form 990, Part VI, Section B, Line 12C

The organization maintains a conflict of interest policy to protect the integrity of the organization, including as it relates to any transaction that might benefit the private interest of an officer or director of the organization. All directors and officers are covered under the policy. In connection with any actual or possible conflict of interest, the interested person must disclose all material facts to the board of directors. After disclosure of such facts, the interested party may not participate in the determination of a conflict of interest. The board will decide if a conflict exists. If a conflict is determined to exist, the interested person must recuse himself or herself from participation in the discussion on the related party transaction. The board will evaluate whether the transaction is fair, reasonable and in the best interest of the organization and whether an alternative to the transaction is reasonably achievable. Following such evaluation, the board shall decide whether to approve the transaction. Directors and officers are required to complete a conflict of interest questionnaire annually.

Form 990, Part VI, Section B, Line 15

Compensation of the top management official and other officers and key employees of the organization was reviewed and approved by the compensation committee of the board of directors, which is comprised entirely of independent directors, after reviewing comparable compensation information provided by an independent compensation consulting firm. The firm provided that information based on its performance of a study for the committee to evaluate the compensation levels of similarly qualified persons in functionally comparable positions at similarly situated organizations. Deliberations and decisions regarding the compensation arrangements were contemporaneously documented.

Form 990, Part VI, Section C, Line 19

The organization makes its governing documents, conflict of interest policy, form 990, form 990-t and financial statements available upon request for the same period of disclosure as set forth in section 6104(d).

Filing and Contact Details

Filer

Filer Name
Uma Education Inc
EIN
47-2578950
Phone
8138982588
Address
3101 WDRMARTIN LUTHER KING JRBLVD, TAMPA, FL 33607
Doing Business As
See Schedule O

Signing Officer

Name
Thomas Rametta
Title
Chief Financial Officer
Phone
8138982588
Signed
2017-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Derek Apanovitch
Formed
2014
Legal Domicile
De
Voting Board Members
7
Independent Board Members
6
Employees
3,523
Volunteers
0

Preparer

Firm
Rsm US Llp
Address
1185 AVENUE OF THE AMERICAS, NEW YORK, NY 10036-2602
Preparer
James P Sweeney CPA
Phone
2123721000
Supplemental Narrative

Additional Explanations

Form 990, Part I, Item C

Dba: ultimate medical academy dba: complete conference management dba: global education group dba: med learning group dba: hire ed solutions

Form 990, Part I, Line 1

Uma education, inc. Operates ultimate medical academy, an educational institution committed to equipping and empowering students for healthcare careers. Headquartered in tampa and having a national presence, the organization strives to provide a learning experience that maximizes value for our students in a professional and supportive environment. The organization offers content-rich, interactive online courses as well as hands-on training at its campuses. The organization offers its students extensive academic advising, one-on-one or group tutoring, resume and interview coaching, job search assistance, technical support and more. The institution is accredited by the accrediting bureau of health education schools. The organization also provides continuing medical education ("cme"), educating physicians, nurses and other medical professionals throughout the united states. The organization's cme division utilizes innovative online courses as well as live conferences that employ industry current technology to maximize the learner experience and, ultimately, improve patient outcomes. The organization is also accredited by the accreditation council for continuing medical education and several other medical professional accrediting bodies.

Financial Statement Notes

PART X, LINE 2:

The organization is a not-for-profit corporation that is exempt from federal income taxes under section 501(c)(3) of the internal revenue code ("irc") whereby only unrelated business income as defined by section 512(a)(1) of the irc is subject to federal income tax. Any tax on the unrelated business activities is not significant to the consolidated financial statements. Accordingly, no provision or liability for income taxes is recorded in the consolidated financial statements. Fasb requires management to annually evaluate the organization's tax positions, including accounting and measurement of uncertain tax positions. For the year ending december 31, 2016, management concluded that no uncertain tax positions had been taken that would require adjustments to or disclosure in the consolidated financial statements. With few exceptions, the organization is no longer subject to income tax examination by federal, state, or local tax authorities for years before 2014.

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IRS990/Desc0SEE SCHEDULE OTHE ORGANIZATION PROVIDES PROGRAMS THAT PREPARE STUDENTS FOR ROLES IN THE HEALTHCARE INDUSTRY. THE ORGANIZATION'S STUDENT POPULATION FOR SUCH PROGRAMS WAS APPROXIMATELY 12,640 AS OF DECEMBER 31, 2016, WITH APPROXIMATELY 360 ACTIVE FACULTY STAFF MEMBERS.SPECIFICALLY, THE ORGANIZATION OFFERS THE FOLLOWING PROGRAMS:-ASSOCIATE DEGREE PROGRAMS HEALTH AND HUMAN SERVICES HEALTH INFORMATION TECHNOLOGY HEALTH SCIENCE HEALTHCARE MANAGEMENT MEDICAL BILLING AND CODING NURSING-DIPLOMA PROGRAMS BASIC X-RAY WITH MEDICAL OFFICE PROCEDURES DENTAL ASSISTANT WITH EXPANDED FUNCTIONS HEALTHCARE TECHNOLOGY & SYSTEMS MEDICAL ADMINISTRATIVE ASSISTANT MEDICAL ASSISTANT MEDICAL BILLING AND CODING MEDICAL OFFICE AND BILLING SPECIALIST NURSING ASSISTANT PATIENT CARE TECHNICIAN PHARMACY TECHNICIAN PHLEBOTOMY TECHNICIANTHE ORGANIZATION PROVIDES ROBUST LEARNER AND CAREER SERVICES TO HELP PRODUCE STRONG OUTCOMES FOR ITS STUDENTS. SUCH SERVICES INCLUDE TUTORING, MENTORING, LIFE SKILLS COACHING, FINANCIAL LITERACY TRAINING, CAREER READINESS PREPARATION AND JOB PLACEMENT ASSISTANCE.THE ORGANIZATION ALSO PROVIDES NUMEROUS CONTINUING MEDICAL EDUCATION ACTIVITIES FOR HEALTHCARE PROFESSIONALS IN BOTH LIVE AND ONLINE SETTINGS. THESE ACTIVITIES DIFFER FROM YEAR TO YEAR GIVEN THE EDUCATIONAL NEEDS OF PHYSICIANS, NURSES, PHARMACISTS AND OTHER MEDICAL PROFESSIONALS.
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