Civic Intelligence

Uma Education Inc.

990 • Fiscal year 2020 • EIN 47-2578950

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 15, 2021

3101 Wdrmartin Luther King Jr BlTampa, FL 33607

(813) 898-2588

Siviq Scores

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

Liabilities / Assets

81st percentile

0.75x

Higher debt load relative to assets than 81% of similar nonprofits.

2020 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2020

Liabilities / Revenue

78th percentile

1.22x

Higher debt load relative to revenue than 78% of similar nonprofits.

2020 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2020

Net Margin

69th percentile

9.9%

Higher net margin than 69% of similar nonprofits.

2020 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2020

Top Officer Pay

60th percentile

$1,074,948

Higher top officer pay than 60% of similar nonprofits.

Top officer pay equals 0.3% of source-year revenue.

2020 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2020

Asset Growth

64th percentile

11%

Faster asset growth than 64% of similar nonprofits.

2020 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2019 to 2020

Revenue Growth

69th percentile

7.1%

Faster revenue growth than 69% of similar nonprofits.

2020 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2019 to 2020

Assets

Up

$546,392,502

Up $53,128,307 (+11%) from 2019

Net Assets

Up

$138,667,849

Up $33,169,192 (+31%) from 2019

Liabilities

Up

$407,724,653

Up $19,959,115 (+5.1%) from 2019

Revenue

Up

$333,275,661

Up $22,135,368 (+7.1%) from 2019

Expenses

Up

$300,123,682

Up $6,385,194 (+2.2%) from 2019

Net Income

Up

$33,151,979

Up $15,750,174 (+91%) from 2019

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

2020

Assets$546,392,502
Liabilities$407,724,653
Net Assets$138,667,849

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

2020

Revenue$333,275,661
Expenses$300,123,682
Net Income$33,151,979
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 15, 2021
Return Version
2020v4.1
Gross Receipts
$333,275,661
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$314,617,913$314,417,913▼ $200,000
Cash and Non-Interest-Bearing Accounts$58,376,657$111,172,940▲ $52,796,283
Savings and Temporary Cash Investments$25,000,000$25,000,000→ $0
Accounts Receivable$13,655,877$16,613,941▲ $2,958,064
Land, Buildings, and Equipment, Net$9,902,948$14,148,748▲ $4,245,800
Prepaid Expenses and Deferred Charges$7,323,967$8,710,508▲ $1,386,541
Inventories for Sale or Use$768,901$849,030▲ $80,129
Total Assets$493,264,195$546,392,502▲ $53,128,307
Other Assets Total$63,617,932$55,479,422▼ $8,138,510
Liabilities
Tax Exempt Bond Liabilities$184,781,507$183,376,143▼ $1,405,364
Unsecured Notes Loans Payable$71,889,341$71,977,400▲ $88,059
Deferred Revenue$40,157,897$50,290,343▲ $10,132,446
Other Liabilities$48,358,170$46,997,825▼ $1,360,345
Accounts Payable and Accrued Expenses$32,302,946$44,982,864▲ $12,679,918
Grants Payable$8,347,516$8,881,486▲ $533,970
Mortgage Notes Payable Secured by Investment Property$1,928,161$1,218,592▼ $709,569
Total Liabilities$387,765,538$407,724,653▲ $19,959,115
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$105,498,657$138,667,849▲ $33,169,192
Total Net Assets Fund Balance$105,498,657$138,667,849▲ $33,169,192
Total Liabilities and Net Assets / Fund Balance$493,264,195$546,392,502▲ $53,128,307

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$3,990,434$8,545,266$12,535,700
Leasehold Improvements$7,397,480$4,280,462$11,677,942
Equipment$2,760,834$6,315,252$9,076,086
Other Assets Org$362,875--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Rametta ThomasPresident (& CFO Until 7/13/20)FT$604,584$470,364$1,074,948
Apanovitch DerekFormer President (until 7/1/19)-$1,055,275$1,055,275$1,055,275
Hyland Robert GExecutive Vice PresidentFT$390,595$282,898$673,493
Grzybowski AndrewVice PresidentFT$198,361$428,246$626,607
Anzuoni Nicole MGeneral Counsel / Corp. Sec.FT$370,304$254,895$625,199
Mignone LindaExec. VP & Chief Mkt. OfficerFT$416,342$190,052$606,394
Becker MichaelSVP, Student EngagementFT$377,535$218,742$596,277
Schaffrath AlexandraEvp & Chief Fin. & Strategy OfficerFT$352,844$191,156$544,000
Mueller GregorySVP, OperationsFT$358,815$174,507$533,322
Edwards Susan aChief Compliance OfficerFT$338,644$193,242$531,886
Neumann AprilSenior Vice PresidentFT$316,350$186,283$502,633
Verratti MatthewFormer Exec.vice Pres.(until 9/26/18)-$498,000-$498,000
Verratti MatthewFormer Exec.vice Pres.(until 9/26/18--$498,000$498,000
Donahue David aSVP & Chief of StaffFT$304,025$173,815$477,840
Garland Elizabeth FSVP, Human ResourcesFT$273,347$145,377$418,724
Guerriero John GDirector of Advocacy & PartnershipsFT$146,512$249,828$396,340
Reese Jeffrey BAssoc. Gen. Counsel/asst. Corp. Sec.FT$147,555$27,813$175,368
Swift JaneFormer Executive Chair of the Board (until 2/15/19-$141,220-$141,220
Swift JaneFormer Executive Chair of the Board--$141,220$141,220
Kendall Sitarski Laura KSr. Counsel(former Asst.sec.-6/3/17)FT$123,981-$123,981
Bailey DarlyneChair of the BoardPT$72,500$5,000$77,500
Hawk ChristopherBoard MemberPT$57,500$5,000$62,500
Burghardt StephenBoard MemberPT$55,000$5,000$60,000
Friedman RichardBoard MemberPT$55,000$5,000$60,000
Mcdevitt SheilaBoard MemberPT$55,000$5,000$60,000
Polin Theodore LVice Chair of the BoardPT$55,000$5,000$60,000
Wootten MatthewBoard MemberPT$55,000$5,000$60,000

Highest Paid Contractors

ContractorServicesLocationCompensation
Google INCRecruiting Support1600 AMPHITHEATRE PKWY, Mountain View, CA 94043$8,665,035
Progress Interactive Medical EducationCme Activities20 COMMERCE DRIVE STE 135, Cranford, NJ 07016$5,343,180
Archer Education INCRecruiting Support12555 W JEFFERSON BLVD STE 202, Los Angeles, CA 90066$4,565,152
All Star Directories INCRecruiting Support101 STEWARD STREET SUITE 500, Seattle, WA 98101$4,328,037
Educationdynamics LLCRecruiting Support5 MARINE VIEW PLAZA SUITE 212, Hoboken, NJ 07030$4,075,646
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$332,406,585
Investment Income
$531,576
Other Revenue
$337,500
Change in Net Assets
$33,151,979
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$146,188,123
Other Expenses$143,423,183
Grants and Similar Amounts Paid$10,512,376
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$105,659,574$13,863,384-$119,522,958
Advertising$44,847,700$15,074-$44,862,774
Interest$11,780,819--$11,780,819
Grants to Domestic Individuals$10,443,876--$10,443,876
Other Employee Benefits$9,423,024$704,012-$10,127,036
Fees for Services Other$7,190,223$2,219,361-$9,409,584
Payroll Taxes$8,067,855$644,628-$8,712,483
Occupancy$7,948,945$445,927-$8,394,872
Other Expenses$7,218,063$2,450-$7,220,513
Information Technology$3,133,432$3,414,726-$6,548,158
Current Officers, Directors, Trustees, and Key Employees$3,143,549$2,639,901-$5,783,450
Depreciation Depletion$4,110,632--$4,110,632
All Other Expenses$1,289,471$999,981-$2,289,452
Pension Plan Contributions$1,454,597$333,599-$1,788,196
Office Expenses$915,420$624,471-$1,539,891
Insurance$233,216$716,861-$950,077
Fees for Services Legal-$777,894-$777,894
Fees for Services Accounting-$424,797-$424,797
Travel$177,746$161,687-$339,433
Comp Disqual Persons-$254,000-$254,000
Conferences and Meetings$49,739$92,953-$142,692
Grants to Domestic Orgs$68,500--$68,500
Fees for Service Investment Mgmnt Fees-$26,739-$26,739
Total Functional Expenses$271,761,237$28,362,445$0$300,123,682
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
National Association for the Advancement of Colored PeopleBaltimore, MD501(c)(3)Contribution for Legal Defense and Educational Fund$20,000
American Cancer SocietyTampa, FL501(c)(3)CONTRIBUTION FOR "MAKING STRIDES AGAINST BREAST CANCER" & "REAL MEN WEAR PINK"$17,500
Feeding Tampa BayTampa, FL501(c)(3)Contribution for General Purposes$16,000
Big Brother Big SisterTampa, FL501(c)(3)Sponsorship for Art of Helping Children Virtual Gala$15,000
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
Yes
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-See Part VSee Part VNo$254,000
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Operating Lease Obligations$46,997,825

Bond Issues

BondIssuerIssuedIssue PricePurpose
APublic Finance Authority2019-12-19$187,658,921SEE PART VI

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$187,658,921$170,954,829-$2,732,854

Bond Financing Compliance

No rebate due
No
Rebate not yet due
Yes
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
Yes
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 35% controlled entity
Yes
Business relationship with family members
No
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 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 trustees 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 trustees 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 trustee of the organization. All trustees 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 trustees. 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 deliberations 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. Trustees 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 certain other officers or key employees of the organization was reviewed and approved by the compensation committee of the board of trustees, which is comprised entirely of independent trustees, 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 JR BL, TAMPA, FL 33607
Doing Business As
See Schedule O

Signing Officer

Name
Thomas Rametta
Title
President
Phone
8138982588
Signed
2021-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Thomas Rametta
Formed
2014
Legal Domicile
De
Voting Board Members
8
Independent Board Members
6
Employees
2,909
Volunteers
0

Preparer

Firm
Rsm US Llp
Address
4 TIMES SQUARE, NEW YORK, NY 10036
Preparer
Lynne Johnson
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

FORM 990, PART I, LINE 1, DESCRIPTION OF ORGANIZATION MISSION:

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 federal or state income taxes is recorded in the consolidated financial statements. The fasb requires management to annually evaluate the organization's tax positions, including accounting and measurement of uncertain tax positions. For the year ended december 31, 2020, management concluded that no uncertain tax positions had been taken that would require adjustment to or disclosure in the consolidated financial statements. With few exceptions, the organization is no longer subject to income tax examinations by federal, state, or local tax authorities for years before 2017.

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IRS990/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt0GOOGLE INC
IRS990/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt1PROGRESS INTERACTIVE MEDICAL EDUCATION
IRS990/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt2ARCHER EDUCATION INC
IRS990/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt3ALL STAR DIRECTORIES INC
IRS990/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt4EDUCATIONDYNAMICS LLC
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IRS990/Desc0SCHEDULE O THE ORGANIZATION PROVIDES PROGRAMS THAT PREPARE STUDENTS FOR ROLES IN THE HEALTHCARE INDUSTRY. THE ORGANIZATION'S STUDENT POPULATION FOR SUCH PROGRAMS WAS APPROXIMATELY 15,940 AS OF DECEMBER 31, 2020, WITH APPROXIMATELY 350 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 HEALTHCARE ACCOUNTING-DIPLOMA PROGRAMS 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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