Umuc Ventures Inc

Analysis

Umuc Ventures Inc is a registered charity in United States, based in Bethesda, MD. It received its IRS tax-exemption ruling in December 2016, 10 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a organisation supporting a government-owned college or university under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Umuc Ventures Inc reported income of $40.1m and spending of $40.1m, spending 100% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $44.8m to $40.1m (-11%), an average of -2.8% a year. The sharpest change came in the year to June 2020, when income rose by 88%. Over the whole period it spent 86% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Umuc Ventures Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within MD. Charities of a similar size with the same main cause include Trustees of Newark Academy ($40.0m), Scholarship America Inc ($40.1m) and Uc Santa Barbara Foundation ($40.0m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. Compensation of current officers, directors and key employees was $2.7m (6.8% of expenses). Other salaries and wages came to $16.5m. At year end it held assets of $43.4m against liabilities of $3.4m, net assets of $39.9m. It reported 198 employees.