Civic Intelligence

Wgu Academy

EIN 85-2768979 • 501(c)3 • Salt Lake City, UT

Profile

Support the educational and charitable purposes of educational entities by engaging in research and development and offering programs and courses to improve readiness for and success in postsecondary education.

4001 SOUTH 700 EAST Suite 700Salt Lake City, UT 84107

academy.wgu.edu

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

Score unavailable

No value available

Liabilities-to-assets requires both liabilities and assets on the latest valid filing.

Source year 2024

Liabilities / Revenue

6th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Net Margin

37th percentile

0.4%

Higher net margin than 37% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

1st percentile

-100%

Faster asset growth than 1% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2022 to 2024

Revenue Growth

38th percentile

2.2%

Faster revenue growth than 38% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2022 to 2024

Assets

Down

$0

Down $1,570,757 (-100%) from 2023

Liabilities

Down

$0

Down $1,249,725 (-100%) from 2023

Net Assets

Down

$0

Down $321,032 (-100%) from 2023

Revenue

Down

$16,297,273

Down $1,013,373 (-5.9%) from 2023

Expenses

Down

$16,232,878

Down $1,077,768 (-6.2%) from 2023

Net Income

Up

$64,395

Up $64,395 from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$2.0M$1.5M$1.0M$500K$0-$500KAssets 2021: $434,851Liabilities 2021: $733,876Net Assets 2021: -$299,0252021Assets 2022: $1,556,994Liabilities 2022: $1,235,962Net Assets 2022: $321,0322022Assets 2023: $1,570,757Liabilities 2023: $1,249,725Net Assets 2023: $321,0322023Assets 2024: $0Liabilities 2024: $0Net Assets 2024: $02024

Highlighted filing

2024

Assets$0
Liabilities$0
Net Assets$0

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$20M$15M$10M$5.0M$0Revenue 2021: $14,679,967Expenses 2021: $6,938,326Net Income 2021: $7,741,6412021Revenue 2022: $15,616,442Expenses 2022: $14,996,385Net Income 2022: $620,0572022Revenue 2023: $17,310,646Expenses 2023: $17,310,646Net Income 2023: $02023Revenue 2024: $16,297,273Expenses 2024: $16,232,878Net Income 2024: $64,3952024

Highlighted filing

2024

Revenue$16,297,273
Expenses$16,232,878
Net Income$64,395

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Apr 30, 2025
Return Version
2023v6.0
Gross Receipts
$16,298,475
Mission and Program Overview

Mission

Support the educational and charitable purposes of educational entities by engaging in research and development and offering programs and courses to improve readiness for and success in postsecondary education.

SCHEDULE O

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$850,103$0▼ $850,103
Other Notes and Loans Receivable, Net$431,181$0▼ $431,181
Accounts Receivable$127,227$0▼ $127,227
Prepaid Expenses and Deferred Charges$105,774$0▼ $105,774
Investments in Publicly Traded Securities$56,472$0▼ $56,472
Cash and Non-Interest-Bearing Accounts$0$0→ $0
Savings and Temporary Cash Investments$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$1,570,757$0▼ $1,570,757
Other Assets Total$0$0→ $0
Liabilities
Accounts Payable and Accrued Expenses$907,799$0▼ $907,799
Deferred Revenue$341,926$0▼ $341,926
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$1,249,725$0▼ $1,249,725
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$321,032$0▼ $321,032
Net Assets With Donor Restrictions$0$0→ $0
Total Net Assets Fund Balance$321,032$0▼ $321,032
Total Liabilities and Net Assets / Fund Balance$1,570,757$0▼ $1,570,757
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Scott PulsipherDirector-$335,496$139,180$474,676
Chris LeePresidentFT$208,580$58,408$247,847
Chelsea BarnettVP - Product and ProgramsFT$170,180$19,644$191,969
Curt DefriezTreasurer-$146,870$25,599$179,831
Reshma GouravajhalaSr.Manager Research & AnalyticFT$155,604$5,750$170,988
Bonnie BuddSr. Manager, Design & Dev.FT$120,534-$120,534

Board Members and Trustees

NameTitle
Tammy Johns Until 10723Director (Chair)
Yashima White AziloveSenior Director. Business Dev.
Rachael MaranguManager, Product Strategy

Highest Paid Contractors

ContractorServicesLocationCompensation
StraighterLineLearning resources1201 South Sharp Street Suite 110, Baltimore, MD 21230$1,699,605
Revenue and Support

Revenue Composition

Contributions and Grants
$10,716,862
Program Service Revenue
$5,579,182
Investment Income
$1,229
Other Revenue
$0
All Other Contributions
$184,273
Change in Net Assets
$64,395
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$9,376,422
Other Expenses$6,716,762
Grants and Similar Amounts Paid$139,694
Total Fundraising Expense$123,689
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$6,329,585$322,564$55,849$6,707,998
Fees for Services Other$2,790,998$1,023,269$1,112$3,815,379
Information Technology$955,643$42,398$5,691$1,003,732
Other Employee Benefits$938,427$33,407$6,172$978,006
Current Officers, Directors, Trustees, and Key Employees$586,851$260,785$38,952$886,588
Advertising$872,346--$872,346
Payroll Taxes$453,631$22,359$3,891$479,881
Pension Plan Contributions$307,612$13,885$2,452$323,949
Depreciation Depletion$266,200$12,723$1,709$280,632
Travel$199,594$15,524$6,653$221,771
Office Expenses$202,393$12,948$967$216,308
Fees for Services Legal-$169,701-$169,701
Grants to Domestic Individuals$139,694--$139,694
Fees for Services Accounting-$56,471-$56,471
Other Expenses$25,960--$25,960
Fees for Services Management-$19,607-$19,607
Insurance$15,703$1,241$207$17,151
Conferences and Meetings$13,245$1,375$34$14,654
Total Functional Expenses$14,100,932$2,008,257$123,689$16,232,878
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

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

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
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
No
Management duties delegated
No

Governance Explanations

Part VI, Section B, Line 11B

The form 990 is reviewed by the organization officers and distributed to the board for review prior to filing.

Part VI, Section B, Line 12C

The organization requires all directors to disclose possible conflicts annually.

Part VI, Section B, Line 15A & 15B

The Finance Committee of the Board of Trustees of WGU Corporation hires a compensation consultant every year to assess and review the organization's compensation to officers. The most recent review was for FY24. In addition, the organization participates in 3 - 5 compensation surveys in order to benchmark its compensation at least annually. The Compensation Committee of the Board of Trustees of WGU Corporation reviews and approves the base compensation, bonus types, bonus potentials, and the performance goals for Officers. Officers and key employees review compensation for their respective organizations. The organization conducts periodic compensation reviews for all employees, including key management and officers. Compensation recommendations and decisions are based on a composite analysis of at least 3 peers or independent sources, including but not limited to salary surveys, aggregate compensation databases, and online-facilitated peer reporting. All compensation programs are evaluated and adhere to generally accepted compensation principles as designated by WorldatWork.

Part VI, Section C, Line 19

The organization's governing documents, conflict of interest policy and financial statements are available upon request.

Filing and Contact Details

Filer

Filer Name
Wgu Academy
EIN
85-2768979
In Care Of
% NADEEM SYED
Phone
8882108880
Address
4001 SOUTH 700 EAST Suite 700, SALT LAKE CITY, UT 84107

Signing Officer

Name
Curt Defriez
Title
Treasurer
Phone
3854288146
Signed
2025-04-30
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Chris Lee
Formed
2020
Legal Domicile
Ut
Voting Board Members
2
Independent Board Members
0
Employees
92
Volunteers
1

Preparer

Firm
Bdo USA
Address
299 S MAIN ST 10TH FLOOR, SALT LAKE CITY, UT 84111
Preparer
Matthew Frerker
Phone
8012691818
Supplemental Narrative

Additional Explanations

Part 1, Line 1

Support the educational and charitable purposes of educational entities by engaging in research and development and offering programs and courses to improve readiness for and success in postsecondary education.

Part XI, Line 9

Transfer of Net Assets to WGU Corporation: Assets transferred on Schedule N: $ (2,193,565) Liabilities Transferred: 1,808,138 Total Net Assets Transferred: $ (385,427)

Form 990 Part IX Line 11G

Description:operations shared service exp. Total fees:1759872

Form 990 Part IX Line 11G

Description:learning resources total fees:913808

Form 990 Part IX Line 11G

Description:people & talent shared service total fees:774154

Form 990 Part IX Line 11G

Description:credit card fees total fees:120033

Form 990 Part IX Line 11G

Description:other services total fees:247512

Financial Statement Notes

SCHEDULE D, PART X, LINE 2:

The following is the "Income Taxes" footnote from the consolidated financial statements that include the accounts and balances of WGU Academy, among other entities: WGU Corporation and Western Governors University qualify as tax-exempt organizations under Section 501(c)(3) of the Internal Revenue Code and are generally exempt from federal and state income taxes, except for taxes on income from activities unrelated to their exempt purposes. The consolidated wholly-owned LLC partnerships are treated as disregarded entities for income tax purposes to the extent that their activities are related to an exempt purpose of their tax-exempt parent. The Organization records its allocated income or loss from other majority-owned LLCs, and based on the nature of the operations of those LLCs, determines if any income tax will be due. Activities unrelated to the exempt purpose are subject to income tax. The consolidated LP partnerships seek investments in early-stage, mission-aligned companies. Certain activities of the LP partnerships could be subject to taxation and such taxes are recorded in the consolidated financial statements as applicable. Management believes the Organization has taken no tax positions that more likely than not would not be sustained upon examination by taxing authorities. Accordingly, no provision for income taxes has been made in the accompanying consolidated financial statements.

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The following is the "Income Taxes" footnote from the consolidated financial statements that include the accounts and balances of WGU Academy, among other entities: WGU Corporation and Western Governors University qualify as tax-exempt organizations under Section 501(c)(3) of the Internal Revenue Code and are generally exempt from federal and state income taxes, except for taxes on income from activities unrelated to their exempt purposes. The consolidated wholly-owned LLC partnerships are treated as disregarded entities for income tax purposes to the extent that their activities are related to an exempt purpose of their tax-exempt parent. The Organization records its allocated income or loss from other majority-owned LLCs, and based on the nature of the operations of those LLCs, determines if any income tax will be due. Activities unrelated to the exempt purpose are subject to income tax. The consolidated LP partnerships seek investments in early-stage, mission-aligned companies. Certain activities of the LP partnerships could be subject to taxation and such taxes are recorded in the consolidated financial statements as applicable. Management believes the Organization has taken no tax positions that more likely than not would not be sustained upon examination by taxing authorities. Accordingly, no provision for income taxes has been made in the accompanying consolidated financial statements.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PART X, LINE 2:
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