Wgu Labs Llc
- Assets
- $9.2m
- Revenue
- $11.0m
- Investments
- $0.0
- Employees
- 43
- Location
- Salt Lake City, UT
- Founding
- Data as of
- 06/2022
- EIN
- 82-4523369
Organization Overview
Wgu Labs Llc is located in Salt Lake City, UT. According to its NTEE Classification (B90) the organization is classified as: Educational Services, under the broad grouping of Education and related organizations. As of 06/2022, Wgu Labs Llc employed 43 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wgu Labs Llc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Wgu Labs Llc generated $11.0m in total revenue. All expenses for the organization totaled $7.2m during the year ending 06/2022. While expenses have increased by 14.2% per year over the past 4 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO ENGAGE IN RESEARCH, DEVELOPMENT AND LICENSING OF INNOVATIVE TECHNOLOGIES TO OPTIMIZE LEARNER OUTCOMES
Describe the Organization's Program Activity:
Part 3 - Line 4a
WGU LABS WORKED WITH 6 EARLY-STAGE EDTECH COMPANIES SOLVING IMPORTANT PROBLEMS IN EDUCATION TO CONDUCT RESEARCH AND HELP THEM GROW. WGU LABS CONTINUES TO EXPAND THE COLLEGE INNOVATION NETWORK, A GROUP OF POST-SECONDARY INSTITUTIONS THAT SERVE UNDER-REPRESENTED STUDENTS COMMITTED TO RESEARCHING INNOVATIVE SOLUTIONS TO IMPROVE OUTCOMES FOR STUDENTS. WITH THE SUPPORT OF THE CHARLES KOCH FOUNDATION, WGU LABS IS CONDUCTING RESEARCH ON A HYBRID COLLEGE MODEL TO INCREASE ACCESS AND COMPLETION OF UNDER-REPRESENTED STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Scott Pulsipher Director (chair) | Trustee | 1 | $0 |
David Grow Director / Treasurer | OfficerTrustee | 3 | $0 |
Jason Levin President | OfficerTrustee | 41 | $398,214 |
Todd Bloom Managing Dir. (until 4/08/22) | 40 | $222,347 | |
Omid Fotuhi Director, Learning Innovation | 40 | $190,608 | |
Sean Brown Secretary (until 4/25/2022) | Officer | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Consultnet Llc It Staffing | 6/29/21 | $228,481 |
Speakworks Inc Video Assessment | 6/29/21 | $203,275 |
Woodbury Corporation Facility Rental | 6/29/21 | $130,484 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $8,699,750 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,705,750 |
| Total Program Service Revenue | $2,198,279 |
| Investment income | $70,518 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$577 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,973,970 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $529,658 |
| Compensation of current officers, directors, key employees. | $423,726 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,555,295 |
| Pension plan accruals and contributions | $194,243 |
| Other employee benefits | $341,078 |
| Payroll taxes | $270,797 |
| Fees for services: Management | $12,459 |
| Fees for services: Legal | $223,452 |
| Fees for services: Accounting | $98,851 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $869,099 |
| Advertising and promotion | $195,777 |
| Office expenses | $165,717 |
| Information technology | $314,082 |
| Royalties | $0 |
| Occupancy | $124,404 |
| Travel | $207,510 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $23,015 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $30,333 |
| Insurance | $6,488 |
| All other expenses | $1,481 |
| Total functional expenses | $7,163,739 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $100,605 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $422,486 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $896,991 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $159,864 |
| Net Land, buildings, and equipment | $44,114 |
| Investments—publicly traded securities | $97,340 |
| Investments—other securities | $0 |
| Investments—program-related | $7,509,388 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $9,230,788 |
| Accounts payable and accrued expenses | $562,118 |
| Grants payable | $0 |
| Deferred revenue | $1,076,966 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,639,084 |
| Net assets without donor restrictions | $7,292,625 |
| Net assets with donor restrictions | $299,079 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $9,230,788 |