WGU ACADEMY

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2020

Legal Domicile

Principal Officer

CHRIS LEE

Phone

8882108880

Tax Period

2022-07-01 to 2023-06-30

WGU ACADEMY, founded in 2020, is a mid-sized nonprofit that reported $17.3M in total revenue in fiscal year 2022. Revenue grew 11% year-over-year, indicating healthy expansion.

Mission

SUPPORT THE EDUCATIONAL AND CHARITABLE PURPOSES OF EDUCATIONAL ENTITIES BY ENGAGING IN RESEARCH AND DEVELOPMENT AND OFFERING PROGRAMS AND COURSES TO IMPROVE READINESS FOR AND SUCCESS IN POSTSECONDARY EDUCATION.

Program Service Accomplishments

Program 1

Expenses: $13,747,517 Revenue: $6,189,778

WGU Academy (Academy) began operations as a separate company in January 2021. During FY23, Academy launched its own proprietary platform for delivering individual courses and course bundles, and has developed seven of its own courses as onramps to credential programs at WGU and elsewhere. These courses provide students with skills and confidence that results in improved persistence and graduation rates in degree programs at WGU, increasing a student's return on investment. Academy continues to offer its college readiness program to underserved populations through multiple community and employer partnerships. Academy served over 9,000 students during FY23.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $11,122,559

Program Service Revenue $6,189,778

Investment Income $-1,691

Other Revenue $0

TOTAL REVENUE $17,310,646

Expense Breakdown

Grants Paid $316,748

Salaries & Benefits $8,835,809

Fundraising Expenses $202,477

Program Expenses $13,747,517

Other Expenses $8,158,089

TOTAL EXPENSES $17,310,646

Year-over-Year Comparison

	2022	2021	Change
Revenue	$17,310,646	$15,616,442	+0.1%
Expenses	$17,310,646	$14,996,385	+0.2%
Net Income	$0	$620,057	-1.0%

Key Indicators

✗ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✓ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$959,209

Total Directors

$2,402,261

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Scott Pulsipher	Director	1.0	Director	$0	$58,120	$1,976,036
Chris Lee	President	41.0	Officer Director	$369,144	$57,081	$426,225
Curt Defriez	Treasurer	2.0	Officer	$0	$57,280	$297,641
Mark Shaffer UNTIL 12222	Secretary	2.0	Officer	$0	$37,370	$235,343
Chelsea Barnett	Sr. Director, P & P Innovation	40.0	Highest	$155,514	$31,009	$186,523
Reshma Gouravajhala	Manager, Advanced Analytics	40.0	Highest	$126,981	$22,650	$149,631
Jimmy Chu	Manager, Software Engineer	40.0	Highest	$105,406	$34,968	$140,374
Juliane Kettering	Sr. Manager, Marketing	40.0	Highest	$101,508	$31,732	$133,240
Bonnie Budd	Sr. Manager, Design & Dev.	40.0	Highest	$114,210	$0	$114,210
Tammy Johns	Director (Chair)	1.0	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$17,310,646	$17,310,646	$1,570,757	No data
2022	$15,616,442	$14,996,385	$1,556,994	$620,057
2021	$14,679,967	$6,938,326	$434,851	$7,741,641