Civic Intelligence

Wgu Academy

990 • Fiscal year 2022 • EIN 85-2768979

Jul 01, 2021 to Jun 30, 2022 • Filed on May 15, 2023

Organization ProfileACADEMY.WGU.EDU
4001 SOUTH 700 EAST Suite 700Salt Lake City, UT 84107

(888) 210-8880

Siviq Scores

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

Liabilities / Assets

87th percentile

0.79x

Higher debt load relative to assets than 87% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Liabilities / Revenue

26th percentile

0.08x

Higher debt load relative to revenue than 26% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Net Margin

43rd percentile

4.0%

Higher net margin than 43% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Top Officer Pay

99th percentile

$1,859,938

Higher top officer pay than 99% of similar nonprofits.

Top officer pay equals 11.9% of source-year revenue.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Asset Growth

98th percentile

258%

Faster asset growth than 98% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2021 to 2022

Revenue Growth

54th percentile

6.4%

Faster revenue growth than 54% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets87th percentile

Assets

Up

$1,556,994

Up $1,122,143 (+258%) from 2021

Net Assets

Up

$321,032

Up $620,057 (+207%) from 2021

Liabilities

Up

$1,235,962

Up $502,086 (+68%) from 2021

Revenue And Expenses
Liabilities / Revenue26th percentileNet Margin43rd percentile

Revenue

Up

$15,616,442

Up $936,475 (+6.4%) from 2021

Expenses

Up

$14,996,385

Up $8,058,059 (+116%) from 2021

Net Income

Down

$620,057

Down $7,121,584 (-92%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth98th percentile

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

$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

2022

Assets$1,556,994
Liabilities$1,235,962
Net Assets$321,032
Open 2022 Filing

Operations Trend

Revenue Growth54th percentile

Revenue, expenses, and net income across loaded years, with this 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

2022

Revenue$15,616,442
Expenses$14,996,385
Net Income$620,057
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
May 15, 2023
Return Version
2021v4.2
Gross Receipts
$15,618,634
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
Accounts Receivable$135,554$314,549▲ $178,995
Prepaid Expenses and Deferred Charges$205,185$206,995▲ $1,810
Savings and Temporary Cash Investments$39,735$70,936▲ $31,201
Land, Buildings, and Equipment, Net$54,377$62,382▲ $8,005
Cash and Non-Interest-Bearing Accounts$0$0→ $0
Other Notes and Loans Receivable, Net$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
Investments in Publicly Traded Securities$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$434,851$1,556,994▲ $1,122,143
Other Assets Total$0$902,132▲ $902,132
Liabilities
Accounts Payable and Accrued Expenses$497,889$1,049,386▲ $551,497
Deferred Revenue$235,987$186,576▼ $49,411
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$733,876$1,235,962▲ $502,086
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-299,025$321,032▲ $620,057
Net Assets With Donor Restrictions$0$0→ $0
Total Net Assets Fund Balance$-299,025$321,032▲ $620,057
Total Liabilities and Net Assets / Fund Balance$434,851$1,556,994▲ $1,122,143

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$62,382$26,135$88,517
Other Land Buildings$0-$0
Other Assets Org$902,132--
Compensation and Service Providers
Top Officer Pay99th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Scott PulsipherDirector-$84,635$274,289$358,924
Pat PartridgePresident (until 1/31/2021)FT$152,873$25,158$178,031
Adam DavisInterm Pres (until 8/05/2021)FT$111,447$39,036$150,483
ELIZA ROBINSON until 61722Director, Business & Tech OpsFT$118,291$30,816$149,107
Chris LeePresident (8/05/2021)FT$128,546$12,236$140,782

Board Members and Trustees

NameTitle
Tammy JohnsDirector, Chair
Anna FrachouDirector, Strategic Alliances
Chelsea BarnettSr. Director, P&p Innovation
Mark ShafferSecretary
Curt DefriezTreasurer (2/14/2022)
Scott TannerTreasurer (until 2/14/2022)

Highest Paid Contractors

ContractorServicesLocationCompensation
StraighterlineLearning Resources-$5,002,536
Intellias Global LimitedSoftware Development40 WEST GREGSON AVE, Salt Lake City, UT 84115, Mt$263,626
Adcentives West INCBranded Promo Items1201 SOUTH SHARP ST SUITE 110, Baltimore, MD 21230$108,271
Revenue and Support

Revenue Composition

Contributions and Grants
$8,584,552
Program Service Revenue
$7,033,221
Investment Income
$-1,361
Other Revenue
$30
All Other Contributions
$3,526
Change in Net Assets
$620,057
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$7,349,268
Salaries, Compensation, and Employee Benefits$7,268,992
Grants and Similar Amounts Paid$378,125
Total Fundraising Expense$135,867
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$5,217,781$325,198$1,030$5,544,009
Other Salaries and Wages$4,623,886$606,383$13,696$5,243,965
Other Employee Benefits$881,713$115,897$3,207$1,000,817
Information Technology$631,115$270,073$2,148$903,336
Payroll Taxes$352,864$46,268$1,030$400,162
Grants to Domestic Individuals$378,125--$378,125
Current Officers, Directors, Trustees, and Key Employees$186,000$74,400$111,600$372,000
Pension Plan Contributions$221,409$29,330$1,309$252,048
Occupancy$204,812$20,617$1,133$226,562
Fees for Services Accounting-$192,933-$192,933
Advertising$154,425$134-$154,559
Fees for Services Legal-$102,503-$102,503
Travel$86,917$5,009-$91,926
Depreciation Depletion$44,155$4,445$244$48,844
Office Expenses$37,509$3,409$82$41,000
Fees for Services Management$26,388$2,656$146$29,190
Insurance$11,511$1,602$240$13,353
Conferences and Meetings$671$12$2$685
Other Expenses$368--$368
Total Functional Expenses$13,059,649$1,800,869$135,867$14,996,385
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 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
2023-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Chris Lee
Formed
2020
Legal Domicile
Ut
Voting Board Members
3
Independent Board Members
1
Employees
90
Volunteers
1

Preparer

Firm
Bdo USA Llp
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.”

Form 990 Part IX Line 11G

“Description:learning resources total fees:4560096”

Form 990 Part IX Line 11G

“Description:policy & public affairs svcs total fees:47040”

Form 990 Part IX Line 11G

“Description:operations & hr services total fees:909579”

Form 990 Part IX Line 11G

“Description:other consulting total fees:27294”

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: CWGU, WGU Labs, WGU Advancement, and WGU Academy 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, but since the LP partnerships are designed to generate a profit, their activities are largely considered unrelated to their parent's exempt purpose. The tax-exempt parent entities do not generally pay taxes on income from the LP partnerships' investments in C-corporations and promissory notes, but investments in other partnerships are subject to taxation. 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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IRS990/Desc0WGU ACADEMY (ACADEMY) BEGAN OPERATIONS AS ITS OWN SEPARATE COMPANY IN JANUARY 2021. ACADEMY SOUGHT AND RECEIVED CREDIT RECOMMENDATION FROM THE AMERICAN COUNCIL ON EDUCATION (ACE) FOR ITS FLAGSHIP COURSE, THE PROGRAM FOR ACADEMIC AND CAREER ADVANCEMENT (PACA). PACA NOW TRANSFERS TO OTHER INSTITUTIONS AS A 3-CREDIT COMMUNICATIONS COURSE. ACADEMY CONTINUES TO OFFER ITS COLLEGE READINESS PROGRAM TO UNDERSERVED POPULATIONS ACROSS A VARIETY OF CLIENTS IN DIFFERENT SEGMENTS. HIGHER ED, EMPLOYER GROUPS, AND COMMUNITY GROUPS. ACADEMY HAD APPROXIMATELY 9,000 STUDENTS DURING FY22.
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt50
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt4212804
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IRS990/Form990PartVIISectionAGrp/TitleTxt0DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt1PRESIDENT (UNTIL 1/31/2021)
IRS990/Form990PartVIISectionAGrp/TitleTxt2TREASURER (2/14/2022)
IRS990/Form990PartVIISectionAGrp/TitleTxt3TREASURER (UNTIL 2/14/2022)
IRS990/Form990PartVIISectionAGrp/TitleTxt4INTERM PRES (UNTIL 8/05/2021)
IRS990/Form990PartVIISectionAGrp/TitleTxt5SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR, STRATEGIC ALLIANCES
IRS990/Form990PartVIISectionAGrp/TitleTxt7SR. DIRECTOR, P&P INNOVATION
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR, BUSINESS & TECH OPS
IRS990/Form990PartVIISectionAGrp/TitleTxt9PRESIDENT (8/05/2021)
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR, CHAIR
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IRS990/MembersOrStockholdersInd0false
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IRS990/MinutesOfCommitteesInd0true
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IRS990/MissionDesc0SUPPORT 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.
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IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt00
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IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt0321032
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/FundraisingAmt01133
IRS990/OccupancyGrp/ManagementAndGeneralAmt020617
IRS990/OccupancyGrp/ProgramServicesAmt0204812
IRS990/OccupancyGrp/TotalAmt0226562
IRS990/OfficeExpensesGrp/FundraisingAmt082
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt03409
IRS990/OfficeExpensesGrp/ProgramServicesAmt037509
IRS990/OfficeExpensesGrp/TotalAmt041000
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IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
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IRS990/OtherAssetsTotalGrp/EOYAmt0902132
IRS990/OtherEmployeeBenefitsGrp/FundraisingAmt03207
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt0115897
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0881713
IRS990/OtherEmployeeBenefitsGrp/TotalAmt01000817
IRS990/OtherExpensesGrp/Desc0MISC. EXPENSES
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IRS990/OtherExpensesGrp/TotalAmt0368
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IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt046268
IRS990/PayrollTaxesGrp/ProgramServicesAmt0352864
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IRS990/PensionPlanContributionsGrp/FundraisingAmt01309
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IRS990/PensionPlanContributionsGrp/ProgramServicesAmt0221409
IRS990/PensionPlanContributionsGrp/TotalAmt0252048
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IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0206995
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IRS990/ProgramServiceRevenueGrp/BusinessCd1611710
IRS990/ProgramServiceRevenueGrp/Desc0GROSS PROGRAM TUITION AND FEES - WGU ACADEMY
IRS990/ProgramServiceRevenueGrp/Desc1SERVICE FEES FROM WGU
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt12031000
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt05002221
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt12031000
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IRS990/PYContributionsGrantsAmt011110000
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IRS990/PYGrantsAndSimilarPaidAmt0140275
IRS990/PYInvestmentIncomeAmt018371
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt03646262
IRS990/PYOtherRevenueAmt025
IRS990/PYProgramServiceRevenueAmt03551571
IRS990/PYRevenuesLessExpensesAmt07741641
IRS990/PYSalariesCompEmpBnftPaidAmt03151789
IRS990/PYTotalExpensesAmt06938326
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt014679967
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IRS990/RelatedEntityInd0true
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IRS990/RelatedOrganizationsAmt08581026
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IRS990/RentalIncomeOrLossGrp/RealAmt00
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IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,556,994
Liabilities
$1,235,962
Net assets
$321,032
Revenue
$15,616,442
Expenses
$14,996,385
Net income
$620,057
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$16.3$16.2$0.06
2023Detailed filing. Detailed filing data is available for this year.$1.57$1.25$0.32$17.3$17.3$0.00
2022Detailed filing. Detailed filing data is available for this year.$1.56$1.24$0.32$15.6$15.0$0.62
2021Detailed filing. Detailed filing data is available for this year.$0.43$0.73$0.30$14.7$6.94$7.74