Civic Intelligence

Aggie Redrock Foundation

990 • Fiscal year 2023 • EIN 85-3580118

Jul 01, 2022 to Jun 30, 2023 • Filed on Nov 03, 2023

1445 Old Main HillLogan, UT 84322-1445

(801) 407-6522

Siviq Scores

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

Liabilities / Assets

91st percentile

0.93x

Higher debt load relative to assets than 91% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Liabilities / Revenue

99th percentile

71.51x

Higher debt load relative to revenue than 99% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Net Margin

2nd percentile

-227%

Higher net margin than 2% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Top Officer Pay

83rd percentile

$345,944

Higher top officer pay than 83% of similar nonprofits.

Top officer pay equals 176.9% of source-year revenue.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Asset Growth

10th percentile

-7.8%

Faster asset growth than 10% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2022 to 2023

Revenue Growth

2nd percentile

-80%

Faster revenue growth than 2% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2022 to 2023

Assets

Down

$15,058,334

Down $1,273,100 (-7.8%) from 2022

Net Assets

Down

$1,074,671

Down $444,053 (-29%) from 2022

Liabilities

Down

$13,983,663

Down $829,047 (-5.6%) from 2022

Revenue

Down

$195,540

Down $805,355 (-80%) from 2022

Expenses

Up

$639,593

Up $635,093 (+14113%) from 2022

Net Income

Down

-$444,053

Down $1,440,448 (-145%) from 2022

Historical Trend

Balance Sheet Trend

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

$20M$15M$10M$5.0M$0-$5.0MAssets 2021: $14,967,361Liabilities 2021: $14,445,032Net Assets 2021: $522,3292021Assets 2022: $16,331,434Liabilities 2022: $14,812,710Net Assets 2022: $1,518,7242022Assets 2023: $15,058,334Liabilities 2023: $13,983,663Net Assets 2023: $1,074,6712023Assets 2024: $14,481,433Liabilities 2024: $13,991,552Net Assets 2024: $489,8812024Assets 2025: $13,903,810Liabilities 2025: $13,999,551Net Assets 2025: -$95,7412025

Highlighted filing

2023

Assets$15,058,334
Liabilities$13,983,663
Net Assets$1,074,671

Operations Trend

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

$1.5M$1.0M$500K$0-$500K-$1.0MRevenue 2021: $522,479Expenses 2021: $150Net Income 2021: $522,3292021Revenue 2022: $1,000,895Expenses 2022: $4,500Net Income 2022: $996,3952022Revenue 2023: $195,540Expenses 2023: $639,593Net Income 2023: -$444,0532023Revenue 2024: $158,699Expenses 2024: $743,489Net Income 2024: -$584,7902024Revenue 2025: $158,497Expenses 2025: $744,119Net Income 2025: -$585,6222025

Highlighted filing

2023

Revenue$195,540
Expenses$639,593
Net Income-$444,053
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Nov 3, 2023
Return Version
2022v5.0
Gross Receipts
$195,540
Mission and Program Overview

Mission

Aggie redrock foundation (aggie), as a supporting organization to utah state university (usu), leases an academic building to usu for furthering educational opportunities for residents in the moab, utah area.

To enter into a ground & building lease, and admin services agreement with utah state univ.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$13,500,127$14,664,641▲ $1,164,514
Cash and Non-Interest-Bearing Accounts$2,831,269$314,594▼ $2,516,675
Accounts Receivable-$79,062-
Prepaid Expenses and Deferred Charges$38$37▼ $1
Total Assets$16,331,434$15,058,334▼ $1,273,100
Liabilities
Mortgage Notes Payable Secured by Investment Property$13,864,891$13,872,792▲ $7,901
Accounts Payable and Accrued Expenses$947,819$110,819▼ $837,000
Deferred Revenue-$52-
Total Liabilities$14,812,710$13,983,663▼ $829,047
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,518,724$1,074,671▼ $444,053
Total Net Assets Fund Balance$1,518,724$1,074,671▼ $444,053
Total Liabilities and Net Assets / Fund Balance$16,331,434$15,058,334▼ $1,273,100

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$12,925,074$434,436$13,359,510
Equipment$1,739,567-$1,739,567
Compensation and Service Providers

Board Members and Trustees

NameTitle
Teresa TheurerChair
Lianna EtchbergerPresident
Fred HunsakerDirector
Laurens SmithDirector
Thomas LeeDirector
Tiffany AllisonSecretary
David CowleyTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$59,048
Program Service Revenue
$136,150
Investment Income
$342
Other Revenue
$0
All Other Contributions
$59,048
Change in Net Assets
$-444,053

Noncash Contribution Practices

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

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Real Estate Other1$59,048Fair Market Value (FMV)
Total Noncash Contributions1$59,048-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$639,593
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$434,436--$434,436
Interest$129,296--$129,296
Fees for Services Management-$62,280-$62,280
Fees for Services Accounting-$13,272-$13,272
Other Expenses$1$308-$1
Total Functional Expenses$563,733$75,860$0$639,593
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
Yes
Annual disclosure for covered persons
No
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
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, Part VI, Section A, Line 8B

There are no committees with authority to act on behalf of the governing body.

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

An outside cpa prepares the 990 tax return and sends a draft return to the board of directors for review. Once the return is reviewed and reaches satisfactory status with the board of directors, the cpa electroncially files the 990 to the irs.

Form 990, Part VI, Section C, Line 19

AVAILABLE UPON REQUEST.

Filing and Contact Details

Filer

Filer Name
Aggie Redrock Foundation
EIN
85-3580118
Phone
8014076522
Address
1445 OLD MAIN HILL, LOGAN, UT 84322-1445

Signing Officer

Name
David T Cowley
Title
Treasurer
Phone
8014076522
Signed
2023-11-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Lianna Etchberger
Formed
2020
Legal Domicile
Ut
Voting Board Members
5
Independent Board Members
3
Employees
0
Volunteers
10

Preparer

Firm
Eide Bailly Llp
Address
5929 FASHION POINT DR STE 300, OGDEN, UT 84403-4684
Preparer
Chett Campbell CPA
Phone
8016211575
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

The foundation evaluates its tax positions that have been taken or are expected to be taken on income tax returns to determine if an accrual is necessary for uncertain tax positions. As of june 30, 2023 and 2022, the unrecognized tax benefit accrual was zero. The foundation will recognize future accrued interest and penalties related to unrecognized tax benefits in income tax expense if incurred.

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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0THE PURPOSE OF AGGIE REDROCK FOUNDATION IS TO SUPPORT THE EDUCATIONAL, TAX-EXEMPT MISSION OF UTAH STATE UNIVERSITY BY LEASING AN ACADEMIC BUILDING TO UTAH STATE UNIVERSITY FOR RESIDENTS IN THE MOAB, UTAH AREA.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt1AGGIE REDROCK FOUNDATION'S ENTIRE FINANCIAL STREAM IS BASED UPON A LOAN FROM AFF9 LLC. THIS LOAN IS FOR THE CONSTRUCTION OF THE MOAB ACADEMIC BUILDING.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt2UTAH STATE UNIVERSITY HAS DUAL STATUS AS BOTH A GOVERNMENTAL ENTITY AND A 501(C)(3) ORGANIZATION.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART IV, SECTION E, LINE 1C:
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc1PART IV, SECTION D, LINE 3:
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc2PART IV, SECTION A, LINE 2:
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IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt013359510
IRS990ScheduleD/EquipmentGrp/BookValueAmt01739567
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt01739567
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION EVALUATES ITS TAX POSITIONS THAT HAVE BEEN TAKEN OR ARE EXPECTED TO BE TAKEN ON INCOME TAX RETURNS TO DETERMINE IF AN ACCRUAL IS NECESSARY FOR UNCERTAIN TAX POSITIONS. AS OF JUNE 30, 2023 AND 2022, THE UNRECOGNIZED TAX BENEFIT ACCRUAL WAS ZERO. THE FOUNDATION WILL RECOGNIZE FUTURE ACCRUED INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS IN INCOME TAX EXPENSE IF INCURRED.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt014664641
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/CompensationSurveyInd0X
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt0277430
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt1244292
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt046333
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt134689
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt022181
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt17337
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0DAVID COWLEY
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1LAURENS SMITH
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0TREASURER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1DIRECTOR
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0345944
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt1286318
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990ScheduleJ/WrittenEmploymentContractInd0X
IRS990ScheduleM/AnyPropertyThatMustBeHeldInd00
IRS990ScheduleM/RealEstateOtherGrp/ContributionCnt01
IRS990ScheduleM/RealEstateOtherGrp/MethodOfDeterminingRevenuesTxt0FMV
IRS990ScheduleM/RealEstateOtherGrp/NonCashCheckboxInd0X
IRS990ScheduleM/RealEstateOtherGrp/NoncashContributionsRptF990Amt059048
IRS990ScheduleM/ReviewProcessUnusualNCGiftsInd01
IRS990ScheduleM/SupplementalInformationDetail/ExplanationTxt0NUMBER OF CONTRIBUTIONS
IRS990ScheduleM/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, COLUMN (B):
IRS990ScheduleM/ThirdPartiesUsedInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THERE ARE NO COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1AN OUTSIDE CPA PREPARES THE 990 TAX RETURN AND SENDS A DRAFT RETURN TO THE BOARD OF DIRECTORS FOR REVIEW. ONCE THE RETURN IS REVIEWED AND REACHES SATISFACTORY STATUS WITH THE BOARD OF DIRECTORS, THE CPA ELECTRONCIALLY FILES THE 990 TO THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd01
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0UTAH STATE UNIVERSITY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0876000528
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0UT
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0PUBLIC UNIVERSITY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt01445 OLD MAIN HILL
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0LOGAN
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0UT
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd084322
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt059048
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0FMV
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0UTAH STATE UNIVERSITY
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0C
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0UT
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt016331434
IRS990/TotalAssetsEOYAmt015058334
IRS990/TotalAssetsGrp/BOYAmt016331434
IRS990/TotalAssetsGrp/EOYAmt015058334
IRS990/TotalCompGreaterThan150KInd01
IRS990/TotalContributionsAmt059048
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt075860
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0563733
IRS990/TotalFunctionalExpensesGrp/TotalAmt0639593
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt014812710
IRS990/TotalLiabilitiesEOYAmt013983663
IRS990/TotalLiabilitiesGrp/BOYAmt014812710

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