Civic Intelligence

Utah Advanced Materials Manufacturing Initiative

990 • Fiscal year 2018 • EIN 81-3657193

Jan 01, 2018 to Dec 31, 2018 • Filed on Nov 14, 2019

450 South Simmons Way Suite 300Kaysville, UT 84037

(801) 550-2122

Siviq Scores

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

Liabilities / Assets

30th percentile

0.06x

Higher debt load relative to assets than 30% of similar nonprofits.

2018 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

58th percentile

0.23x

Higher debt load relative to revenue than 58% of similar nonprofits.

2018 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2018

Net Margin

1st percentile

-220%

Higher net margin than 1% of similar nonprofits.

2018 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

69th percentile

$194,686

Higher top officer pay than 69% of similar nonprofits.

Top officer pay equals 74.8% of source-year revenue.

2018 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2018

Asset Growth

3rd percentile

-35%

Faster asset growth than 3% of similar nonprofits.

2018 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

1st percentile

-74%

Faster revenue growth than 1% of similar nonprofits.

2018 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Assets

Down

$1,026,323

Down $543,319 (-35%) from 2017

Net Assets

Down

$966,385

Down $571,319 (-37%) from 2017

Liabilities

Up

$59,938

Up $28,000 (+88%) from 2017

Revenue

Down

$260,274

Down $745,023 (-74%) from 2017

Expenses

Up

$831,593

Up $371,725 (+81%) from 2017

Net Income

Down

-$571,319

Down $1,116,748 (-205%) from 2017

Historical Trend

Balance Sheet Trend

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

$2.0M$1.5M$1.0M$500K$0Assets 2016: $996,766Liabilities 2016: $4,491Net Assets 2016: $992,2752016Assets 2017: $1,569,642Liabilities 2017: $31,938Net Assets 2017: $1,537,7042017Assets 2018: $1,026,323Liabilities 2018: $59,938Net Assets 2018: $966,3852018Assets 2019: $665,328Liabilities 2019: $101,068Net Assets 2019: $564,2602019Assets 2020: $673,757Liabilities 2020: $124,438Net Assets 2020: $549,3192020Assets 2021: $552,598Liabilities 2021: $102,562Net Assets 2021: $450,0362021Assets 2022: $406,174Liabilities 2022: $209,540Net Assets 2022: $196,6342022Assets 2023: $940,227Liabilities 2023: $165,703Net Assets 2023: $774,5242023Assets 2024: $1,003,732Liabilities 2024: $650,549Net Assets 2024: $353,1832024

Highlighted filing

2018

Assets$1,026,323
Liabilities$59,938
Net Assets$966,385

Operations Trend

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2016: $1,000,000Expenses 2016: $7,725Net Income 2016: $992,2752016Revenue 2017: $1,005,297Expenses 2017: $459,868Net Income 2017: $545,4292017Revenue 2018: $260,274Expenses 2018: $831,593Net Income 2018: -$571,3192018Revenue 2019: $1,102,537Expenses 2019: $1,504,662Net Income 2019: -$402,1252019Revenue 2020: $1,363,849Expenses 2020: $1,378,791Net Income 2020: -$14,9422020Revenue 2021: $1,913,139Expenses 2021: $2,012,422Net Income 2021: -$99,2832021Revenue 2022: $1,949,149Expenses 2022: $2,202,551Net Income 2022: -$253,4022022Revenue 2023: $2,616,555Expenses 2023: $2,038,665Net Income 2023: $577,8902023Revenue 2024: $1,465,545Expenses 2024: $1,886,886Net Income 2024: -$421,3412024

Highlighted filing

2018

Revenue$260,274
Expenses$831,593
Net Income-$571,319
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Nov 14, 2019
Return Version
2018v3.1
Gross Receipts
$260,274
Mission and Program Overview

Mission

The utah advanced materials and manufacturing initiative (uammi) brings together public, private, community, industry and education partners to assure growth and sustainability of utahs advanced material and manufacturing industry.

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable$1,000,000--
Savings and Temporary Cash Investments$453,740$844,862▲ $391,122
Cash and Non-Interest-Bearing Accounts$113,976$90,364▼ $23,612
Accounts Receivable$326$82,727▲ $82,401
Prepaid Expenses and Deferred Charges$1,600$8,370▲ $6,770
Total Assets$1,569,642$1,026,323▼ $543,319
Liabilities
Accounts Payable and Accrued Expenses$31,938$59,938▲ $28,000
Total Liabilities$31,938$59,938▲ $28,000
Net Assets / Fund Balance
Temporarily Rstr Net Assets$1,000,000--
Unrestricted Net Assets$537,704$966,385▲ $428,681
Total Net Assets Fund Balance$1,537,704$966,385▼ $571,319
Total Liabilities and Net Assets / Fund Balance$1,569,642$1,026,323▼ $543,319
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Jeff EdwardsExecutive DrFT$186,950$7,736$194,686
Jeff EdwardsExecutive Driector-$186,950$7,736$194,686

Board Members and Trustees

NameTitle
Perry OaksChair
Val HaleVice Chair
Brent StrongBoard Member
Cordian Matt MajewskiBoard Member
Darin BrushBoard Member
David L FerroBoard Member
Debbie LuxBoard Member
George HansenBoard Member
Laura BoguschBoard Member
Rick BouillonBoard Member
Sandra HemmertBoard Member
Scott LindsayBoard Member
Terrence BrideBoard Member
Clint DevittBaord Member
Kori Ann EdwardsSecretary
Jb HenriksenTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$27,646
Program Service Revenue
$232,066
Investment Income
$562
Other Revenue
$0
All Other Contributions
$27,646
Change in Net Assets
$-571,319

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Other Non Cash Contri Table2$27,646Fair Market Value (FMV)
Total Noncash Contributions2$27,646-

Audited Revenue Reconciliation

Revenue per Audited Statements
$260,274
Revenue Not Reported on Form 990
$38,318
Total Revenue per Audited Statements
$298,592
Total Revenue per Form 990
$260,274
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$623,820
Salaries, Compensation, and Employee Benefits$207,773
Total Fundraising Expense$129,432
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$58,406$77,875$58,405$194,686
Fees for Services Other$62,545$31,311$31,296$125,152
Information Technology$46,778$23,389$23,389$93,556
Travel$41,366$6,641$6,550$54,557
Other Expenses$27,645--$27,645
Fees for Services Accounting$11,731$5,866$5,866$23,463
Advertising$23,392--$23,392
Occupancy-$22,561-$22,561
Conferences and Meetings$16,837--$16,837
Payroll Taxes$3,926$5,235$3,926$13,087
Office Expenses-$6,054-$6,054
Insurance-$1,769-$1,769
Total Functional Expenses$521,460$180,701$129,432$831,593

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$869,911
Expenses per Audited Statements$831,593
Total Expenses per Form 990$831,593
Expenses Not Reported on Form 990$38,318
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
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 family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

The form 990 is reviewed by the treasurer and ceo before being filed.

Form 990, Page 6, Part VI, Line 12C

In connection with any actual or possible conflict of interest, an interested person must disclose the existence of the financial interest and be given the opportunity to disclose all material facts to the directors and members of committees with governing board delegated powers considering the proposed transaction or arrangement. After disclosure of the financial interest and all material facts, and after any discussion with the interested person, he/she shall leave the governing board or committee meeting while the determination of a conflict of interest is discussed and voted upon. The remaining board or committee members shall decide if a conflict of interest exists. If the governing board or committee has reasonable cause to believe a member has failed to disclose actual or possible conflicts of interest, it shall inform the member of the basis for such belief and afford the member an opportunity to explain the alleged failure to disclose. If, after hearing the member's response and after making further investigation as warranted by the circumstances, the governing board or committee determines the member has failed to disclose an actual or possible conflict of interest, it shall take appropriate disciplinary and corrective action.

Form 990, Page 6, Part VI, Line 19

Requests to review governing documents are considered on a case-by-case basis.

Filing and Contact Details

Filer

Filer Name
Utah Advanced Materials
EIN
81-3657193
Address
450 SOUTH SIMMONS WAY SUITE 300, KAYSVILLE, UT 84037

Signing Officer

Name
Jeff Edwards
Title
Executive Driector
Signed
2019-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jeff Edwards
Formed
2016
Legal Domicile
Ut
Voting Board Members
16
Independent Board Members
16
Employees
1
Volunteers
16

Preparer

Firm
Larson & Company Pc
Address
11240 S RIVER HEIGHTS DR SUITE 300, SOUTH JORDAN, UT 84095-5123
Preparer
Richard Scoresby CPA
Phone
8013131900
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

The utah advanced materials and manufacturing initiative (uammi) brings together public, private, community, industry and education partners to assure growth and sustainability of utahs advanced material and manufacturing industry.

Form 990, Page 2, Part III, Line 4A

See schedule o uammi seeks to maintain utahs leadership in this key global industry by: promoting the use of advanced materials and manufacturing processes in utah convening industry, academia, government, education providing current and relevant industry information and facilitating connections accessing both academic and industrial research to solve problems industry has in common advocating for workforce issues that impact the advanced materials industry assisting utah economic development efforts to expand the industry working with innovation centers to address advanced materials issues supporting the composites working group

Form 990, Part IX, Line 11G

Contractors 19,291 9,646 9,646 payroll fees 46 61 46 outside services 43,208 21,604 21,604 total 62,545 31,311 31,296

Financial Statement Notes

Schedule D, Page 3, Part X

Accounting standards codification ("asc") topic 740, income taxes, provides guidance on how uncertain tax positions should be reorganized, measured, disclosed and presented in the financial statements. This requires the evaluation by management of tax positions taken or expected to be taken in preparation of the initiative's tax returns to determine if the positions are more-likely- than-not of being sustained if examined by the taxing authorities. Management has determined there are no uncertain income tax positions. Tax years that remain subject to examination are 2016 and forward.

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0ACCOUNTING STANDARDS CODIFICATION ("ASC") TOPIC 740, INCOME TAXES, PROVIDES GUIDANCE ON HOW UNCERTAIN TAX POSITIONS SHOULD BE REORGANIZED, MEASURED, DISCLOSED AND PRESENTED IN THE FINANCIAL STATEMENTS. THIS REQUIRES THE EVALUATION BY MANAGEMENT OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN PREPARATION OF THE INITIATIVE'S TAX RETURNS TO DETERMINE IF THE POSITIONS ARE MORE-LIKELY- THAN-NOT OF BEING SUSTAINED IF EXAMINED BY THE TAXING AUTHORITIES. MANAGEMENT HAS DETERMINED THERE ARE NO UNCERTAIN INCOME TAX POSITIONS. TAX YEARS THAT REMAIN SUBJECT TO EXAMINATION ARE 2016 AND FORWARD.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE UTAH ADVANCED MATERIALS AND MANUFACTURING INITIATIVE (UAMMI) BRINGS TOGETHER PUBLIC, PRIVATE, COMMUNITY, INDUSTRY AND EDUCATION PARTNERS TO ASSURE GROWTH AND SUSTAINABILITY OF UTAHS ADVANCED MATERIAL AND MANUFACTURING INDUSTRY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1SEE SCHEDULE O UAMMI SEEKS TO MAINTAIN UTAHS LEADERSHIP IN THIS KEY GLOBAL INDUSTRY BY: PROMOTING THE USE OF ADVANCED MATERIALS AND MANUFACTURING PROCESSES IN UTAH CONVENING INDUSTRY, ACADEMIA, GOVERNMENT, EDUCATION PROVIDING CURRENT AND RELEVANT INDUSTRY INFORMATION AND FACILITATING CONNECTIONS ACCESSING BOTH ACADEMIC AND INDUSTRIAL RESEARCH TO SOLVE PROBLEMS INDUSTRY HAS IN COMMON ADVOCATING FOR WORKFORCE ISSUES THAT IMPACT THE ADVANCED MATERIALS INDUSTRY ASSISTING UTAH ECONOMIC DEVELOPMENT EFFORTS TO EXPAND THE INDUSTRY WORKING WITH INNOVATION CENTERS TO ADDRESS ADVANCED MATERIALS ISSUES SUPPORTING THE COMPOSITES WORKING GROUP
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE FORM 990 IS REVIEWED BY THE TREASURER AND CEO BEFORE BEING FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3IN CONNECTION WITH ANY ACTUAL OR POSSIBLE CONFLICT OF INTEREST, AN INTERESTED PERSON MUST DISCLOSE THE EXISTENCE OF THE FINANCIAL INTEREST AND BE GIVEN THE OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO THE DIRECTORS AND MEMBERS OF COMMITTEES WITH GOVERNING BOARD DELEGATED POWERS CONSIDERING THE PROPOSED TRANSACTION OR ARRANGEMENT. AFTER DISCLOSURE OF THE FINANCIAL INTEREST AND ALL MATERIAL FACTS, AND AFTER ANY DISCUSSION WITH THE INTERESTED PERSON, HE/SHE SHALL LEAVE THE GOVERNING BOARD OR COMMITTEE MEETING WHILE THE DETERMINATION OF A CONFLICT OF INTEREST IS DISCUSSED AND VOTED UPON. THE REMAINING BOARD OR COMMITTEE MEMBERS SHALL DECIDE IF A CONFLICT OF INTEREST EXISTS. IF THE GOVERNING BOARD OR COMMITTEE HAS REASONABLE CAUSE TO BELIEVE A MEMBER HAS FAILED TO DISCLOSE ACTUAL OR POSSIBLE CONFLICTS OF INTEREST, IT SHALL INFORM THE MEMBER OF THE BASIS FOR SUCH BELIEF AND AFFORD THE MEMBER AN OPPORTUNITY TO EXPLAIN THE ALLEGED FAILURE TO DISCLOSE. IF, AFTER HEARING THE MEMBER'S RESPONSE AND AFTER MAKING FURTHER INVESTIGATION AS WARRANTED BY THE CIRCUMSTANCES, THE GOVERNING BOARD OR COMMITTEE DETERMINES THE MEMBER HAS FAILED TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, IT SHALL TAKE APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4REQUESTS TO REVIEW GOVERNING DOCUMENTS ARE CONSIDERED ON A CASE-BY-CASE BASIS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5CONTRACTORS 19,291 9,646 9,646 PAYROLL FEES 46 61 46 OUTSIDE SERVICES 43,208 21,604 21,604 TOTAL 62,545 31,311 31,296
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 2, PART III, LINE 4A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART IX, LINE 11G
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IRS990/USAddress/AddressLine1Txt0450 SOUTH SIMMONS WAY SUITE 300

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