Civic Intelligence

Utah Center for Neighborhood Stabilization

990 • Fiscal year 2021 • EIN 45-5465651

Jan 01, 2021 to Dec 31, 2021 • Filed on Sep 19, 2022

6880 S 700 W Office 102Midvale, UT 84047

(801) 316-9118

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

34th percentile

0.09x

Higher debt load relative to assets than 34% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2021

Liabilities / Revenue

77th percentile

0.88x

Higher debt load relative to revenue than 77% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2021

Net Margin

92nd percentile

66%

Higher net margin than 92% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2021

Top Officer Pay

48th percentile

$235,887

Higher top officer pay than 48% of similar nonprofits.

Top officer pay equals 9.3% of source-year revenue.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2021

Asset Growth

4th percentile

-15%

Faster asset growth than 4% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2020 to 2021

Revenue Growth

95th percentile

246%

Faster revenue growth than 95% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2020 to 2021

Assets

Down

$25,024,590

Down $4,535,942 (-15%) from 2020

Net Assets

Up

$22,796,355

Up $2,837,397 (+14%) from 2020

Liabilities

Down

$2,228,235

Down $7,373,339 (-77%) from 2020

Revenue

Up

$2,535,036

Up $1,802,255 (+246%) from 2020

Expenses

Down

$865,955

Down $36,780 (-4.1%) from 2020

Net Income

Up

$1,669,081

Up $1,839,035 (+1082%) from 2020

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$60M$40M$20M$0Assets 2013: $1,854,316Liabilities 2013: $1,296,212Net Assets 2013: $558,1042013Assets 2014: $2,814,941Liabilities 2014: $2,175,515Net Assets 2014: $639,4262014Assets 2015: $4,207,810Liabilities 2015: $1,015,112Net Assets 2015: $3,192,6982015Assets 2016: $14,702,523Liabilities 2016: $3,991,760Net Assets 2016: $10,710,7632016Assets 2017: $17,243,093Liabilities 2017: $4,488,104Net Assets 2017: $12,754,9892017Assets 2018: $20,337,768Liabilities 2018: $4,897,827Net Assets 2018: $15,439,9412018Assets 2019: $25,628,985Liabilities 2019: $7,611,648Net Assets 2019: $18,017,3372019Assets 2020: $29,560,532Liabilities 2020: $9,601,574Net Assets 2020: $19,958,9582020Assets 2021: $25,024,590Liabilities 2021: $2,228,235Net Assets 2021: $22,796,3552021Assets 2022: $35,451,079Liabilities 2022: $13,075,195Net Assets 2022: $22,375,8842022Assets 2024: $54,221,445Liabilities 2024: $31,602,574Net Assets 2024: $22,618,8712024

Highlighted filing

2021

Assets$25,024,590
Liabilities$2,228,235
Net Assets$22,796,355

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$8.0M$6.0M$4.0M$2.0M$0-$2.0MRevenue 2013: $1,798,258Expenses 2013: $1,366,991Net Income 2013: $431,2672013Revenue 2014: $388,147Expenses 2014: $498,930Net Income 2014: -$110,7832014Revenue 2015: $2,586,906Expenses 2015: $392,308Net Income 2015: $2,194,5982015Revenue 2016: $7,782,925Expenses 2016: $508,247Net Income 2016: $7,274,6782016Revenue 2017: $2,382,936Expenses 2017: $656,088Net Income 2017: $1,726,8482017Revenue 2018: $2,711,155Expenses 2018: $762,677Net Income 2018: $1,948,4782018Revenue 2019: $2,405,562Expenses 2019: $845,047Net Income 2019: $1,560,5152019Revenue 2020: $732,781Expenses 2020: $902,735Net Income 2020: -$169,9542020Revenue 2021: $2,535,036Expenses 2021: $865,955Net Income 2021: $1,669,0812021Revenue 2022: $605,933Expenses 2022: $658,120Net Income 2022: -$52,1872022Revenue 2024: $2,504,696Expenses 2024: $1,560,552Net Income 2024: $944,1442024

Highlighted filing

2021

Revenue$2,535,036
Expenses$865,955
Net Income$1,669,081
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Sep 19, 2022
Return Version
2021v4.2
Gross Receipts
$2,535,036
Mission and Program Overview

Mission

The utah center for neighborhood stabilization stabilizes neighborhoods through its subsidiary organizations by providing single family and multi-family affordable housing, neighborhood revitalization, and small business lending and investing. Ucns serves as an umbrella or parent organization for several entities with the same board of directors and management team.

The utah center for neighborhood stabilization stabilizes neighborhoods through its subsidiary organizations by providing single fmaily and multi-family affordable housing, neighborhood revitalization, and small business lending and investing.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$8,535,682$7,742,043▼ $793,639
Cash and Non-Interest-Bearing Accounts$3,852,156$7,036,458▲ $3,184,302
Investments Program Related$5,664,242$6,329,563▲ $665,321
Other Notes and Loans Receivable, Net$11,306,868$3,828,095▼ $7,478,773
Pledges and Grants Receivable$19,709$38,080▲ $18,371
Accounts Receivable$158,228$35,985▼ $122,243
Prepaid Expenses and Deferred Charges$14,676--
Land, Buildings, and Equipment, Net$8,971$14,366▲ $5,395
Total Assets$29,560,532$25,024,590▼ $4,535,942
Liabilities
Mortgage Notes Payable Secured by Investment Property$7,358,325$1,828,604▼ $5,529,721
Other Liabilities$1,582,300$0▼ $1,582,300
Accounts Payable and Accrued Expenses$660,949$399,631▼ $261,318
Total Liabilities$9,601,574$2,228,235▼ $7,373,339
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$12,739,285$15,712,656▲ $2,973,371
Net Assets With Donor Restrictions$7,219,673$7,083,699▼ $135,974
Total Net Assets Fund Balance$19,958,958$22,796,355▲ $2,837,397
Total Liabilities and Net Assets / Fund Balance$29,560,532$25,024,590▼ $4,535,942

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$14,366$17,056$31,422
Investment Program Related Org$6,329,563--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Dan AdamsExecutive DirectorPT$185,362$50,525$235,887
Amy ThorntonVP ProgramsPT$109,868$45,252$155,120
Paul K JohnsonRisk ManagerPT$113,859$15,221$129,080

Board Members and Trustees

NameTitle
Kisty MorrisChairman
Jonathan HanksFormer Chairman
Phillip MeeksVice Chairman
David BrownDirector
Heidi MillerDirector
Howard HeadleeDirector
Kimberly ChytrausDirector
Mark CorneliusDirector
Mark JensenDirector
Rex RolloDirector
Scott SimpsonDirector
Tom ChirstopulosDirector
Todd BorenTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Icfo LLCAccounting615 SOUTH 175 WEST, Layton, UT 84041$158,621
Revenue and Support

Revenue Composition

Contributions and Grants
$226,103
Program Service Revenue
$490,276
Investment Income
$1,818,657
Other Revenue
$0
All Other Contributions
$55,053
Change in Net Assets
$1,669,081

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,535,036
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$1,168,316
Total Revenue per Audited Statements
$3,703,352
Total Revenue per Form 990
$2,535,036
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$459,059
Salaries, Compensation, and Employee Benefits$406,896
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$238,362$224-$238,586
Other Salaries and Wages$141,156$65,613-$206,769
Current Officers, Directors, Trustees, and Key Employees$96,741$54,356-$151,097
Fees for Services Accounting$118$122,304-$122,422
Payroll Taxes$15,840$8,936-$24,776
Other Employee Benefits$13,173$7,283-$20,456
Occupancy$9,321$6,479-$15,800
Insurance$7,501$4,213-$11,714
Other Expenses$6,629$3,157-$9,786
Depreciation Depletion$3,394$849-$4,243
Pension Plan Contributions$2,446$1,352-$3,798
Fees for Services Other$3$2,927-$2,930
Travel$108$992-$1,100
All Other Expenses$322$309-$631
Fees for Services Legal-$302-$302
Total Functional Expenses$560,594$305,361$0$865,955

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$865,955
Total Expenses per Audited Statements$865,955
Total Expenses per Form 990$865,955
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

The board of directors reviews the form 990 before it is filed with the irs.

Form 990, Part VI, Section B, Line 12C

If, after thorough review, a more advantageous transaction or arrangement is not reasonably possible without producing a conflict of interest, the board shall determine by a majority vote of those directors who do not have an actual or potential conflict whether the transaction or arrangement is in utah center for neighborhood stabilization's best interest, for its own benefit, and whether it is fair and reasonable. The person(s) with the actual or potential conflict will be excused from the meeting during the vote. To conform to the determination the board shall make its decision as to whether to continue with the transaction or arrangement.

Form 990, Part VI, Section B, Line 15A

The board of directors hired an independent compensation consultant in late 2016 and received a report from that consultant directly. Meetings were held in late 2016 and early 2017 to review the report. Ucns board of directors established the executive director compensation, which is allocated to related nonprofit organizations. The board of directors sets the compensation for the above listed employees.

Form 990, Part VI, Section C, Line 19

AVAILABLE UPON REQUEST.

Filing and Contact Details

Filer

Filer Name
Utah Center for Neighborhood
EIN
45-5465651
Phone
8013169118
Address
6880 S 700 W OFFICE 102, MIDVALE, UT 84047

Signing Officer

Name
Eli Willis
Title
CFO
Phone
8013169118
Signed
2022-09-19
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Daniel Adams
Formed
2012
Legal Domicile
Ut
Voting Board Members
13
Independent Board Members
13
Employees
6
Volunteers
13

Preparer

Firm
Eide Bailly Llp
Address
5 TRIAD CENTER STE 600, SALT LAKE CITY, UT 84180-1106
Preparer
Christopher Winsley CPA
Phone
8015322200
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

Ucns believes that it has appropriate support for any tax positions taken affecting its annual filing requirements and, as such, does not have any uncertain tax positions that are material to the consolidated financial statements. Ucns would recognize future accrued interest and penalties related to unrecognized tax benefits and liabilities in income tax expense if such interest and penalties are incurred.

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IRS990/ActivityOrMissionDesc0THE UTAH CENTER FOR NEIGHBORHOOD STABILIZATION STABILIZES NEIGHBORHOODS THROUGH ITS SUBSIDIARY ORGANIZATIONS BY PROVIDING SINGLE FMAILY AND MULTI-FAMILY AFFORDABLE HOUSING, NEIGHBORHOOD REVITALIZATION, AND SMALL BUSINESS LENDING AND INVESTING.
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IRS990/Form990PartVIISectionAGrp/TitleTxt2TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt3VICE CHAIRMAN
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IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13EXECUTIVE DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14VP PROGRAMS
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IRS990/MissionDesc0THE UTAH CENTER FOR NEIGHBORHOOD STABILIZATION STABILIZES NEIGHBORHOODS THROUGH ITS SUBSIDIARY ORGANIZATIONS BY PROVIDING SINGLE FAMILY AND MULTI-FAMILY AFFORDABLE HOUSING, NEIGHBORHOOD REVITALIZATION, AND SMALL BUSINESS LENDING AND INVESTING. UCNS SERVES AS AN UMBRELLA OR PARENT ORGANIZATION FOR SEVERAL ENTITIES WITH THE SAME BOARD OF DIRECTORS AND MANAGEMENT TEAM.
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IRS990/ProgSrvcAccomActy2Grp/Desc0THE UTAH CENTER FOR NEIGHBORHOOD STABILIZATION STABILIZES NEIGHBORHOODS THROUGH ITS SUBSIDIARY ORGANIZATIONS BY PROVIDING SINGLE FMAILY AND MULTI-FAMILY AFFORDABLE HOUSING, NEIGHBORHOOD REVITALIZATION, AND SMALL BUSINESS LENDING AND INVESTING.
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IRS990/ProgSrvcAccomActy3Grp/Desc0UTAH SMALL BUSINESS GROWTH INITIATIVE (USBGI) IS A LIMITED LIABILITY COMPANY ORGANIZED IN THE STATE OF UTAH ON JUNE 11, 2012 FOR THE PURPOSE OF CREATING JOBS AND STABILIZING UTAH'S NEIGHBORHOODS BY PROVIDING GROWING BUSINESSES WITH ACCESS TO CAPITAL. USBGI'S PROGRAM SERVICES INCLUDE, A) PROVIDING EARLY-STAGE INVESTMENT CAPITAL, B) FACILITATING LOAN GUARANTEES TO SMALL BUSINESSES BETWEEN FINANCIAL INSTITUTIONS AND THE STATE OF UTAH, AND C) PARTICIPATING IN LOANS ALONGSIDE OTHER FINANCIAL INSTITUTIONS. TO DATE, USBGI HAS BEEN ABLE TO LEVERAGE APPROXIMATELY $8.5 MILLION IN FUNDS TO GIVE SMALL BUSINESSES ACCESS TO APPROXIMATELY $50 MILLION IN CAPITAL TO HELP GROW THEIR BUSINESSES. THAT CAPITAL WAS REPORTED TO HAVE HELPED TO CREATE APPROXIMATELY 550 JOBS AND RETAIN APPROXIMATELY 1,800 JOBS. CAPITAL HAS BEEN MADE AVAILABLE TO WOMEN-OWNED AND MINORITY-OWNED BUSINESSES IN LOW-INCOME AND RURAL AREAS. USBGI IS A WHOLLY-OWNED SUBSIDIARY OF THE NONPROFIT UTAH CENTER FOR NEIGHBORHOOD STABILIZATION (UCNS). UCNS SERVES AS AN UMBRELLA ORGANIZATION FOR SEVERAL DIFFERENT ENTITIES IN ADDITION TO USBGI.
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