Wgu Academy FY2022 filing

Salt Lake City, UTUnknown exempt organizationSince 2020EIN 85-2768979Revenue $15.6M in FY2022

On file with the IRSacademy.wgu.edu4001 South 700 East Suite 700 · Salt Lake City, UT

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87¢ of each $1 spent went to programs.
$862K paid to officers and key staff.
Programs: Part IX · Pay: Part VII

Before you give

FY2022 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 4
filings with a surplus
Average surplus $2.1M a year · 13% of revenue · last 4 filings
Looks good: a surplus in 4 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
87%
of spending
Looks good: 87% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$862K
to officers and key staff · 6% of spending
Looks good: pay to officers and key staff is 6% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
<1 mo
of spending, in cash
Concern: 0.1 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $24K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$1.2M
79% of total assets
Worth a look: liabilities are 79% of assets; over 65%.
Pt X · Ln 26
Independent board members
1
of 3 voting members
Worth a look: 1 of 3 voting members are independent, under half.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$15.6M
+6% vs prior year
Spent
$15.0M
To programs
87%
Net assets
$321K
By yearFY2021–FY2024
Revenue
$15.6M
FY2022▲ +6%
Tap a bar for its year
Revenue by fiscal year
FY2021$14.7M
FY2022$15.6M
FY2023$17.3M
FY2024$16.3M
Expenses
$15.0M
FY2022▲ +116%
Tap a bar for its year
Expenses by fiscal year
FY2021$6.9M
FY2022$15.0M
FY2023$17.3M
FY2024$16.2M
Net assets
$321K
FY2022▲ +207%
Tap a bar for its year
Net assets by fiscal year
FY2021−$299K
FY2022$321K
FY2023$321K
FY2024$0

From the FY2022 Form 990 (year ending June 2022) · figures checked against the IRS filing · see the original

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You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

87 cents of each dollar spent went to programs.

Program services 87% · $13.1M Management & general 12% · $1.8M Fundraising 1% · $136K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

11 people listed on the 990; $862K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
President (until 1/31/2021)
$330,635Pt VII · Sec A
Director, Strategic Alliances
$162,873Pt VII · Sec A
President (8/05/2021)
$128,546Pt VII · Sec A
SR. Director, P&p Innovation
$121,447Pt VII · Sec A
Director, Business & Tech Ops
$118,291Pt VII · Sec A
$0Pt VII · Sec A
Director, Chair
$0Pt VII · Sec A
Treasurer (2/14/2022)
$0Pt VII · Sec A

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2023FY2022
Chris Lee$411,646$369,144$128,546
Pat Partridge——$330,635
Chelsea Barnett$230,120$155,514$121,447
Yashima White Azilove$180,190——
Anna Frachou——$162,873
Rachael Marangu$161,354——
Reshma Gouravajhala$149,120$126,981—
Bonnie Budd$120,534$114,210—

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Provides online courses and certificate programs to prepare students for college and entry-level jobs.

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Provided by the organization

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1 program · $13.1M · in their own filed words · FY2021
01

Wgu 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.

$13.1Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2022
Wgu AdvancementFY2022$15K
Total grants receivedfrom 2 funders$24K
Grants paid · 4 grants · $975K · 2020–2023
Unitemized GrantFY2023$139,694
Unitemized GrantFY2022$316,748
Unitemized GrantFY2021$378,125
Unitemized GrantFY2020$140,275

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$15.6M
Ln 12
Gifts and grantsLn 1h$8.6M
Fees for servicesLn 2g$7.0M
Money outPt IX
$15.0M
Ln 25
Programscol B$13.1M
Managementcol C$1.8M
Fundraisingcol D$136K
Owns and owesPt X
$321K
net assets · Ln 32
Cash and savingsLn 1–2$71K
Total assetsLn 16$1.6M
LiabilitiesLn 26$1.2M
PeoplePt VI, VII
11
listed · VII A
PaidVII A5
Voting boardVI 1a3
IndependentVI 1b1
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$8.6M
Fees for servicesLn 2g$7.0M
Gains on assetsLn 7−$1K
Total revenueLn 12$15.6M
Assets in detailPt X, end of year
CashLn 1$0
SavingsLn 2$71K
Cash and savings togetherLn 1–2$71K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$62K
Other assetsLn 15$902K
Total assetsLn 16$1.6M
LiabilitiesLn 26$1.2M
Net assetsLn 32$321K
OperationsPt I, VI
EmployeesI 592
VolunteersI 61
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$40K$71K
InvestmentsLn 11–13$0$0
Land, buildings, equipmentLn 10c$54K$62K
Total assetsLn 16$435K$1.6M
LiabilitiesLn 26$734K$1.2M
Net assetsLn 32−$299K$321K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$378K$378K
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$372K$186K$74K$112K
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$5.2M$4.6M$606K$14K
Pension plan contributionsLn 8$252K$221K$29K$1K
Other employee benefitsLn 9$1.0M$882K$116K$3K
Payroll taxesLn 10$400K$353K$46K$1K
Management feesLn 11a$29K$26K$3K$146
Legal feesLn 11b$103K$103K
Accounting feesLn 11c$193K$193K
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$5.5M$5.2M$325K$1K
Advertising and promotionLn 12$155K$154K$134
Office expensesLn 13$41K$38K$3K$82
Information technologyLn 14$903K$631K$270K$2K
RoyaltiesLn 15$0
OccupancyLn 16$227K$205K$21K$1K
TravelLn 17$92K$87K$5K
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$685$671$12$2
InterestLn 20$0
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$49K$44K$4K$244
InsuranceLn 23$13K$12K$2K$240
Other expenses (24a–d)Ln 24$368$368
Total functional expensesLn 25$15.0M$13.1M$1.8M$136K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $16.3M$16.2M$64K$0 990 PDF
FY2023 $17.3M$17.3M$0$321K 990 PDF
FY2022 Viewing $15.6M$15.0M$620K$321K 990 PDF
FY2021 $14.7M$6.9M$7.7M−$299K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2022 990 (6 parts)
Part I · Summary $15,616,442 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $11,110,000$8,584,552
I-9 Program service revenuePrior year $3,551,571$7,033,221
I-10 Investment incomePrior year $18,371−$1,361
I-11 Other revenuePrior year $25$30
I-12 Total revenuePrior year $14,679,967$15,616,442
I-13 Grants and similar amounts paidPrior year $140,275$378,125
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $3,151,789$7,268,992
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $3,646,262$7,349,268
I-18 Total expensesPrior year $6,938,326$14,996,385
I-19 Revenue less expensesPrior year $7,741,641$620,057
Part VI · Governance 1 of 3 board members independent, 1 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members1
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $15,616,442 across 11 lines filed
VIII-1d Related organizations$8,581,026
VIII-1f All other contributions, gifts and grants$3,526
VIII-1h Total contributions, gifts and grants$8,584,552
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $7,033,221$7,033,221
VIII-3 Investment income$0
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$1,361−$1,361
VIII-8 Net income from fundraising events$0
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $30$30
VIII-12 Total revenueRelated to mission $7,033,251 · Excluded from tax −$1,361$15,616,442
Part IX · Statement of functional expenses $14,996,385 across 30 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individualsPrograms $378,125$378,125
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staffPrograms $186,000 · Management $74,400 · Fundraising $111,600$372,000
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wagesPrograms $4,623,886 · Management $606,383 · Fundraising $13,696$5,243,965
IX-8 Pension plan contributionsPrograms $221,409 · Management $29,330 · Fundraising $1,309$252,048
IX-9 Other employee benefitsPrograms $881,713 · Management $115,897 · Fundraising $3,207$1,000,817
IX-10 Payroll taxesPrograms $352,864 · Management $46,268 · Fundraising $1,030$400,162
IX-11a Management feesPrograms $26,388 · Management $2,656 · Fundraising $146$29,190
IX-11b Legal feesManagement $102,503$102,503
IX-11c Accounting feesManagement $192,933$192,933
IX-11d Lobbying fees$0
IX-11e Professional fundraising fees$0
IX-11f Investment management fees$0
IX-11g Other fees for servicesPrograms $5,217,781 · Management $325,198 · Fundraising $1,030$5,544,009
IX-12 Advertising and promotionPrograms $154,425 · Management $134$154,559
IX-13 Office expensesPrograms $37,509 · Management $3,409 · Fundraising $82$41,000
IX-14 Information technologyPrograms $631,115 · Management $270,073 · Fundraising $2,148$903,336
IX-15 Royalties$0
IX-16 OccupancyPrograms $204,812 · Management $20,617 · Fundraising $1,133$226,562
IX-17 TravelPrograms $86,917 · Management $5,009$91,926
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetingsPrograms $671 · Management $12 · Fundraising $2$685
IX-20 Interest$0
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortizationPrograms $44,155 · Management $4,445 · Fundraising $244$48,844
IX-23 InsurancePrograms $11,511 · Management $1,602 · Fundraising $240$13,353
IX-24 Other expenses (24a–d)Programs $368$368
IX-25 Total functional expensesPrograms $13,059,649 · Management $1,800,869 · Fundraising $135,867$14,996,385
Part X · Balance sheet $1,556,994 assets, 24 lines filed
X-1 Cash, non-interest-bearingStart of year $0$0
X-2 Savings and temporary cash investmentsStart of year $39,735$70,936
X-3 Pledges and grants receivableStart of year $0$0
X-4 Accounts receivableStart of year $135,554$314,549
X-8 Inventories for sale or useStart of year $0$0
X-9 Prepaid expenses and deferred chargesStart of year $205,185$206,995
X-10c Land, buildings and equipment, netStart of year $54,377$62,382
X-11 Publicly traded securitiesStart of year $0$0
X-12 Other securitiesStart of year $0$0
X-13 Program-related investmentsStart of year $0$0
X-14 Intangible assetsStart of year $0$0
X-15 Other assetsStart of year $0$902,132
X-16 Total assetsStart of year $434,851$1,556,994
X-17 Accounts payable and accrued expensesStart of year $497,889$1,049,386
X-18 Grants payableStart of year $0$0
X-19 Deferred revenueStart of year $235,987$186,576
X-20 Tax-exempt bond liabilitiesStart of year $0$0
X-24 Unsecured notes and loans payableStart of year $0$0
X-25 Other liabilitiesStart of year $0$0
X-26 Total liabilitiesStart of year $733,876$1,235,962
X-27 Net assets without donor restrictionsStart of year −$299,025$321,032
X-28 Net assets with donor restrictionsStart of year $0$0
X-32 Total net assets or fund balancesStart of year −$299,025$321,032
X-33 Total liabilities and net assetsStart of year $434,851$1,556,994
Part XI · Reconciliation of net assets $321,032 net assets at year end
XI-1 Total revenue$15,616,442
XI-2 Total expenses$14,996,385
XI-3 Revenue less expenses$620,057
XI-4 Net assets at start of year−$299,025
XI-10 Net assets at end of year$321,032

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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