Civic Intelligence

Utah Advanced Materials Manufacturing Initiative

990 • Fiscal year 2019 • EIN 81-3657193

Jan 01, 2019 to Dec 31, 2019 • Filed on Nov 16, 2020

450 South Simmons Way Suite 300Kaysville, UT 84037

(801) 657-4293

Siviq Scores

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

Liabilities / Assets

48th percentile

0.15x

Higher debt load relative to assets than 48% of similar nonprofits.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

37th percentile

0.09x

Higher debt load relative to revenue than 37% of similar nonprofits.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2019

Net Margin

3rd percentile

-36%

Higher net margin than 3% of similar nonprofits.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

71st percentile

$203,534

Higher top officer pay than 71% of similar nonprofits.

Top officer pay equals 18.5% of source-year revenue.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2019

Asset Growth

2nd percentile

-35%

Faster asset growth than 2% of similar nonprofits.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

99th percentile

324%

Faster revenue growth than 99% of similar nonprofits.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Assets

Down

$665,328

Down $360,995 (-35%) from 2018

Net Assets

Down

$564,260

Down $402,125 (-42%) from 2018

Liabilities

Up

$101,068

Up $41,130 (+69%) from 2018

Revenue

Up

$1,102,537

Up $842,263 (+324%) from 2018

Expenses

Up

$1,504,662

Up $673,069 (+81%) from 2018

Net Income

Up

-$402,125

Up $169,194 (+30%) from 2018

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

2019

Assets$665,328
Liabilities$101,068
Net Assets$564,260

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

2019

Revenue$1,102,537
Expenses$1,504,662
Net Income-$402,125
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 16, 2020
Return Version
2019v5.0
Gross Receipts
$1,102,537
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
Savings and Temporary Cash Investments$844,862$341,993▼ $502,869
Pledges and Grants Receivable-$250,000-
Accounts Receivable$82,727$56,998▼ $25,729
Cash and Non-Interest-Bearing Accounts$90,364$12,270▼ $78,094
Prepaid Expenses and Deferred Charges$8,370$4,067▼ $4,303
Total Assets$1,026,323$665,328▼ $360,995
Liabilities
Accounts Payable and Accrued Expenses$59,938$52,554▼ $7,384
Other Liabilities-$48,514-
Total Liabilities$59,938$101,068▲ $41,130
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$966,385$314,260▼ $652,125
Net Assets With Donor Restrictions-$250,000-
Total Net Assets Fund Balance$966,385$564,260▼ $402,125
Total Liabilities and Net Assets / Fund Balance$1,026,323$665,328▼ $360,995
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Jeff EdwardsExecutive DiFT$200,600$2,934$203,534
Jeff EdwardsExecutive Director-$200,600$2,934$203,534
Brent StrongBoard MemberPT$51,843-$51,843

Board Members and Trustees

NameTitle
Perry OaksChairman
Kori Ann EdwardsVice Chair
Andy BuffmireBoard Member
Cordian Matt MajewskiBoard Member
Darin BrushBoard Member
David HansenBoard Member
David L FerroBoard Member
George HansenBoard Member
Ginger ChinnBoard Member
Jerome BergBoard Member
Lyndon SmithBoard Member
Mark RipkeBoard Member
Marshall HagenBoard Member
Rick BouillonBoard Member
Sandra HemmertBoard Member
Sara MeessBoard Member
Scott LindsayBoard Member
Mike RossbergTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$426,448
Program Service Revenue
$674,881
Investment Income
$803
Other Revenue
$405
Change in Net Assets
$-402,125

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,102,537
Revenue Not Reported on Form 990
$64,217
Total Revenue per Audited Statements
$1,166,754
Total Revenue per Form 990
$1,102,537
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,238,479
Salaries, Compensation, and Employee Benefits$266,183
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Information Technology---$402,516
Current Officers, Directors, Trustees, and Key Employees---$255,377
Other Expenses---$238,499
Advertising---$74,231
Fees for Services Accounting---$39,316
Fees for Services Other---$30,465
Travel---$25,300
Conferences and Meetings---$25,277
Office Expenses---$23,105
Occupancy---$17,775
Payroll Taxes---$10,806
Insurance---$855
Total Functional Expenses$0$0$0$1,504,662

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,568,879
Expenses per Audited Statements$1,504,662
Total Expenses per Form 990$1,504,662
Expenses Not Reported on Form 990$64,217
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Security Deposits$33,266
Agency Funds Payable$15,248
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
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
Tulinda Larsen
Title
Executive Director
Signed
2020-11-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Tulinda Larsen
Formed
2016
Legal Domicile
Ut
Voting Board Members
18
Independent Board Members
18
Employees
1
Volunteers
20

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

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 recognized, 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. Generally, the initiative's tax returns remain open to examination for three years from the date filed.

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0ACCOUNTING STANDARDS CODIFICATION ("ASC") TOPIC 740, INCOME TAXES, PROVIDES GUIDANCE ON HOW UNCERTAIN TAX POSITIONS SHOULD BE RECOGNIZED, 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. GENERALLY, THE INITIATIVE'S TAX RETURNS REMAIN OPEN TO EXAMINATION FOR THREE YEARS FROM THE DATE FILED.
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/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
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