Umgc Ventures Inc
Umgc Ventures is an organization that supports the university of Maryland university global campus (UMGC). The purpose of Umgc Ventures is threefold: - to support UMGC's transformation into a first-class, market-leading innovation hub and the higher education destination of choice for adult learners wishing to advance their careers. - to create a platform from which all higher education, especially university system of Maryland institutions, can leverage the potential of best practices and scale services common to the delivery of higher education. - to generate and capture economic benefit to enable UMGC to increase its capacity to deliver a low-cost, high value offering to its students.
Umgc Ventures Inc at a glance
- Total assets
- $43,587,547
- -2.0% vs 2024
- Revenue (2025)
- $50,960,758
- +0.4% vs 2024
- Net investment income (2025)
- $420,383
- -27.4% vs 2024
- Expenses (2025)
- $52,111,477
- +1.2% vs 2024
- Latest 990 filing
- Form 990, 2025 View filing
Data from IRS Form 990, 2025; updated October 2026.
Who Umgc Ventures Inc funds
How this funder distributes its grants
Grant Size Distribution
1 grant across all recorded years
The most common grant size was under $50K: 1 grant of 1 (100%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
States
Cities
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2024, annual grant giving ranged from $303 (2023) to $16.0M (2020). In 2024 it reported $345 in grants paid, as a total without an itemized list.
Hatched bars: grants paid as reported on the IRS filing, which lists no individual grants for that year.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| University System of Maryland Foundation Adelphi, MD | Program Support | $25,000 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Net Investment Income |
|---|---|---|---|---|---|---|
| 2025 | $43,587,547 | $50,960,758 | $52,111,477 | — | — | $420,383 |
| 2024 | $44,486,124 | $50,739,113 | $51,469,395 | $345 | Total only | $579,403 |
| 2023 | $43,352,317 | $40,053,558 | $40,082,987 | $303 | Total only | $92,016 |
| 2022 | $44,908,555 | $43,421,101 | $39,820,634 | $25,000 | 1 | $165,843 |
| 2021 | $44,098,237 | $47,696,802 | $44,207,999 | — | — | $261,299 |
| 2020 | $40,633,738 | $84,307,133 | $63,681,101 | $16,000,000 | 1 | $36,025,019 |
"Total only": grants paid as reported on the IRS filing, which lists no individual grants for that year.
About Umgc Ventures Inc
Based on IRS filings
Umgc Ventures Inc is a public charity focused on Education, based in Bethesda, MD. IRS filing data is available from 2020 through 2025. As of 2025, the organization holds $43.6M in total assets. Net investment income was $420K.
Focus Areas
Leadership & Key People
Officers and directors from IRS filings
Umgc Ventures Inc is led by Ashish Patel, Portfolio President & CIO since 2025 (on filings since 2024); 16 of 18 officers listed in 2025 are compensated.
Officers on the 2025 filing
Ashish Patel
Portfolio President & CIO
Interim CEO → Portfolio President & CIO, 2025
On filings since 2024
40 hrs/week
$351K (2024) → $489K (2025)
Nichole McDonald
Vice President & Human Resources
Vice President of Human Resources → Vice President & Human Resources, 2022
On filings since 2020
40 hrs/week
$161K (2020) → $303K (2025)
William Roberts
Board Member
On filings since 2020
5 hrs/week
$80K (2020) → $100K (2025)
Cassie Strom
Board Member
On filings since 2022
5 hrs/week
$20K (2022) → $80K (2025)
Fedor Vasquez
Vice President, Digital Product Design & Technology
Vice President, Digital Product Design & T → Vice President, Digital Prod Design & Tech, 2023
Vice President, Digital Prod Design & Tech → Vice President, Digital Product Design & Technology, 2025
On filings since 2022
40 hrs/week
$186K (2022) → $220K (2025)
Lawrence E. Leak
Board Member
On filings since 2022
5 hrs/week
$40K (2022) → $93K (2025)
Lydia Waters Thomas
Board Member
On filings since 2022
5 hrs/week
$40K (2022) → $80K (2025)
Tulio Lagos
Vice President, Operations & Strategy
Assistant Vice President & Digital Product Management → Assistant Vice President & Digital Product Mgt, 2023
Assistant Vice President & Digital Product Mgt → Vice President, Operations & Strategy, 2024
On filings since 2022
40 hrs/week
$180K (2022) → $238K (2025)
Barry Sugarman
Vice President & Learning Platforms
On filings since 2023
40 hrs/week
$230K (2023) → $263K (2025)
Brian Gnatt
Assistant Vice President & Engagement Platforms
Assistant Vice President Engagement Platforms → Assistant Vice President & Engagement Platforms, 2025
On filings since 2023
40 hrs/week
$169K (2023) → $208K (2025)
Lawrence Graham
Board Member
On filings since 2023
5 hrs/week
$40K (2023) → $80K (2025)
Gary William Kohlheim
Vice President & It Support Operations
Assistant Vice President & It Support Operations → Vice President & It Support Operations, 2025
On filings since 2024
40 hrs/week
$193K (2024) → $224K (2025)
Denise Dyer
Assistant Vice President & Crm
New on the 2025 filing
40 hrs/week
$277K (2025)
Micheal Proksch
Chief Scientist
New on the 2025 filing
40 hrs/week
$254K (2025)
Shankar Dakshnamoorthy
Assistant Vice President & Student Information Systems Digital Platforms
New on the 2025 filing
40 hrs/week
$209K (2025)
Vidhya Sagar Raju Sagiraju
Vice President & Platform Engineering
New on the 2025 filing
40 hrs/week
$303K (2025)
Joseph Sergi
Board Member
On filings since 2022
5 hrs/week
No compensation reported
Kristophyre McCall
Board Member
On filings since 2022
5 hrs/week
No compensation reported
Former officers (40)
- Former: Timothy Brown (2023–2025) — Chief Financial Officer · Filing note: Thru 9/2024
- Former: David Cumberbatch (2025) — Former Chief Executive Officer · Filing note: Thru 6/2024
- Former: Ruben Terrazas (2025) — Chief Financial Officer · Filing note: Thru 12/2024
- Former: Christopher Tatem (2020–2024) — Vice President, Solution Design & Development
- Former: Brent Inscoe (2022–2024) — Assistant Vice President & Strategic Communications
- Former: Dolores Vaccaro (2022–2024) — Finance Director
- Former: Jay Cohen (2023–2024) — Vice President, Architecture & Integrations · Filing note: Thru 923
- Former: Patrick Turner (2023–2024) — Vice President, It & Security Operations · Filing note: Thru 923
- Former: Rocco Giannini (2023–2024) — Director & Server Engineering
- Former: David Cumberbatchthru (2024) — Chief Executive Officer
- Former: John Shin (2020–2023) — Vice President, Products & Software · Filing note: Thru 11/2022
- Former: Premkumar Mani (2020–2023) — Software Architect
- Former: Wendelin Colby (2021–2023) — Chief Executive Officer · Filing note: Thru 9/2022
- Former: William Zemp (2022–2023) — Board Member
- Former: Daniel Parker (2020–2022) — Senior Director
- Former: Tracy Sophia Harris (2020–2022) — Chief Financial Officer
- Former: Anne Kottmeier (2022) — Chief Product Officer
- Former: Jocelyn Rojeck (2022) — Vice President & Learning Technology
- Former: Cary Pappas (2020–2021) — Board Member
- Former: Clark Golestani (2020–2021) — Board Member
- Former: Gregory Nixon (2020–2021) — Board Member
- Former: John A Bates (2020–2021) — Board Member
- Former: Linda Sullivan (2020–2021) — Board Member
- Former: Louis Pugliese (2020–2021) — Executive Vice President
- Former: Mark Decker (2020–2021) — Board Member
- Former: Mark Gerencser (2020–2021) — Board Member
- Former: Michael Foley (2020–2021) — CEO & Board Member
- Former: Rhonda Germany (2020–2021) — Board Member
- Former: Tracy Woods (2020–2021) — Accelered President
- Former: Douglas Lane (2021) — Board Member
- Former: Gabriel Rojas (2021) — Director Enterprise Applications
- Former: Jason Griffith (2021) — Chief Architect
- Former: Lauren Kohsmann (2021) — Finance Director
- Former: Alex Shewchuk (2020) — Vice President Finance
- Former: Doug Lane (2020) — Board Member
- Former: Edward Hill (2020) — Senior Director
- Former: Julia Ellefson (2020) — Cloud Engineer
- Former: Michael Roark (2020) — CEO
- Former: Mike Foley (2020) — Board Member
- Former: William E Cullen (2020) — Cloud Engineer
Data from IRS Form 990 filings, 2020–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2025 IRS filing
The highest reported compensation on the 2025 filing was $489K, to Ashish Patel (Portfolio President/CIO). 19 officers or directors reported compensation on that filing.
Frequently asked questions about Umgc Ventures Inc
How large is Umgc Ventures Inc?
Umgc Ventures Inc reported $43.6M in total assets on its 2025 IRS Form 990. Its revenue that year was $51.0M.
What is Umgc Ventures Inc?
Umgc Ventures Inc is a public charity focused on Education, based in Bethesda, MD. It holds $43.6M in total assets as of 2025.
Where does Umgc Ventures Inc operate?
Umgc Ventures Inc has awarded grants in Maryland.
What is Umgc Ventures Inc's EIN?
Umgc Ventures Inc's EIN (Employer Identification Number) is 81-2898004. IRS Form 990 filing data is available on this page for 2020–2025.
Data last updated October 2026. Sourced from IRS Form 990 filings.
Data update history
(5)
When this profile's IRS filing data changed on Grantable
- Updated Form 990 for fiscal year 2020 (received by the IRS May 15, 2021)
- Updated Form 990 for fiscal year 2022 (received by the IRS May 13, 2023)
- Updated Form 990 for fiscal year 2023 (received by the IRS May 14, 2024)
- Updated Form 990 for fiscal year 2024 (received by the IRS May 14, 2025)
- Added Form 990 for fiscal year 2025 (received by the IRS May 15, 2026)
Live grants for the work Umgc Ventures Inc funds
Education Open opportunities, soonest deadline first.
Explore Open Grants
Browse active grant opportunities in Umgc Ventures Inc's focus areas in our free grants database
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