Wgu Corporation
- Assets
- $621.7m
- Revenue
- $1.0b
- Investments
- $16.3m
- Employees
- 8,256
- Location
- Salt Lake City, UT
- Founding
- 10/2014
- Data as of
- 06/2021
- EIN
- 84-1383926
Organization Overview
Wgu Corporation is located in Salt Lake City, UT. The organization was established in 2014. According to its NTEE Classification (B43) the organization is classified as: Universities, under the broad grouping of Education and related organizations. As of 06/2022, Wgu Corporation employed 8,256 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wgu Corporation 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 06/2021, Wgu Corporation generated $1.0b in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 12.3% each year . All expenses for the organization totaled $994.7m during the year ending 06/2021. While expenses have increased by 12.6% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO OPERATE AND ADMINISTER AN INSTITUTION OF HIGHER LEARNING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WESTERN GOVERNORS UNIVERSITY IS AN ONLINE, NONPROFIT, COMPETENCY-BASED UNIVERSITY WITH MORE THAN 142,000 STUDENTS NATIONWIDE AND MORE THAN 309,000 GRADUATES IN ALL 50 STATES, AS OF FEBRUARY 2023. IT WAS ESTABLISHED IN 1997 BY 19 U.S. GOVERNORS WITH A MISSION TO EXPAND ACCESS TO HIGH-QUALITY, AFFORDABLE HIGHER EDUCATION. WGU IS ACCREDITED BY THE NORTHWEST COMMISSION ON COLLEGES AND UNIVERSITIES AND OFFERS UNDERGRADUATE AND GRADUATE DEGREE PROGRAMS IN BUSINESS, INFORMATION TECHNOLOGY, HEALTHCARE/NURSING, AND K-12 EDUCATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Charles Sorenson Chairman | Trustee | 1 | $0 |
The Honorable Jim Geringer Trustee | Trustee | 1 | $0 |
John W Bluford III Trustee | Trustee | 1 | $0 |
Cole Clark Trustee | Trustee | 1 | $0 |
Tammy Johns Trustee | Trustee | 1 | $0 |
David Simmons Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Google Inc Web Marketing | 6/29/22 | $64,579,693 |
Phd Media Llc Media Management | 6/29/22 | $29,000,219 |
Amobee Inc Media Management | 6/29/22 | $23,217,528 |
Mntn Digital Inc Marketing | 6/29/22 | $9,716,302 |
Robots And Pencils Lp Software Consulting | 6/29/22 | $8,120,629 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $23,807,168 |
| Investment income | $7,841,561 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $21,276,285 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,020,118,520 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $44,801,994 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $6,962,968 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $448,121,554 |
| Pension plan accruals and contributions | $22,928,758 |
| Other employee benefits | $77,974,423 |
| Payroll taxes | $33,349,485 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $530,779 |
| Fees for services: Accounting | $161,209 |
| Fees for services: Lobbying | $878,928 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,884,507 |
| Fees for services: Other | $69,489,415 |
| Advertising and promotion | $157,251,312 |
| Office expenses | $2,634,774 |
| Information technology | $34,201,130 |
| Royalties | $0 |
| Occupancy | $10,588,805 |
| Travel | $618,408 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $905,597 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,917,081 |
| Insurance | $466,876 |
| All other expenses | $0 |
| Total functional expenses | $994,721,354 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $83,449,642 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $35,703,234 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $24,948,586 |
| Investments—publicly traded securities | $436,828,050 |
| Investments—other securities | $16,277,962 |
| Investments—program-related | $0 |
| Intangible assets | $74,055 |
| Other assets | $0 |
| Total assets | $621,679,021 |
| Accounts payable and accrued expenses | $101,308,724 |
| Grants payable | $0 |
| Deferred revenue | $207,244,935 |
| 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 | $308,553,659 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $313,125,362 |