Civic Intelligence

Utah Foundation

990 • Fiscal year 2022 • EIN 87-0199245

Jan 01, 2022 to Dec 31, 2022 • Filed on Nov 08, 2023

PO Box 387Salt Lake City, UT 84110-0387

(801) 355-1400

Siviq Scores

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

Liabilities / Assets

68th percentile

0.11x

Higher debt load relative to assets than 68% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Liabilities / Revenue

70th percentile

0.12x

Higher debt load relative to revenue than 70% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Net Margin

36th percentile

-0.2%

Higher net margin than 36% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Top Officer Pay

96th percentile

$187,264

Higher top officer pay than 96% of similar nonprofits.

Top officer pay equals 37.2% of source-year revenue.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Asset Growth

59th percentile

6.3%

Faster asset growth than 59% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2021 to 2022

Revenue Growth

15th percentile

-28%

Faster revenue growth than 15% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2021 to 2022

Assets

Up

$595,180

Up $35,222 (+6.3%) from 2021

Net Assets

Down

$532,670

Down $812 (-0.2%) from 2021

Liabilities

Up

$62,510

Up $36,034 (+136%) from 2021

Revenue

Down

$503,426

Down $199,137 (-28%) from 2021

Expenses

Up

$504,238

Up $49,826 (+11%) from 2021

Net Income

Down

-$812

Down $248,963 (-100%) from 2021

Historical Trend

Balance Sheet Trend

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

$600K$400K$200K$0Assets 2010: $100,913Liabilities 2010: $5,667Net Assets 2010: $95,2462010Assets 2011: $121,997Liabilities 2011: $12,346Net Assets 2011: $109,6512011Assets 2012: $126,267Liabilities 2012: $11,445Net Assets 2012: $114,8222012Assets 2013: $140,412Liabilities 2013: $6,221Net Assets 2013: $134,1912013Assets 2014: $297,796Liabilities 2014: $15,545Net Assets 2014: $282,2512014Assets 2015: $170,143Liabilities 2015: $17,178Net Assets 2015: $152,9652015Assets 2016: $118,521Liabilities 2016: $13,974Net Assets 2016: $104,5472016Assets 2017: $57,910Liabilities 2017: $31,698Net Assets 2017: $26,2122017Assets 2018: $89,617Liabilities 2018: $22,674Net Assets 2018: $66,9432018Assets 2019: $160,550Liabilities 2019: $16,417Net Assets 2019: $144,1332019Assets 2020: $328,212Liabilities 2020: $42,881Net Assets 2020: $285,3312020Assets 2021: $559,958Liabilities 2021: $26,476Net Assets 2021: $533,4822021Assets 2022: $595,180Liabilities 2022: $62,510Net Assets 2022: $532,6702022Assets 2023: $568,817Liabilities 2023: $50,457Net Assets 2023: $518,3602023Assets 2024: $460,876Liabilities 2024: $29,748Net Assets 2024: $431,1282024

Highlighted filing

2022

Assets$595,180
Liabilities$62,510
Net Assets$532,670

Operations Trend

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

$1.0M$500K$0-$500KExpenses 2010: $357,9892010Revenue 2011: $297,991Expenses 2011: $283,586Net Income 2011: $14,4052011Expenses 2012: $407,0272012Revenue 2013: $383,429Expenses 2013: $364,060Net Income 2013: $19,3692013Revenue 2014: $600,952Expenses 2014: $452,892Net Income 2014: $148,0602014Revenue 2015: $581,270Expenses 2015: $710,556Net Income 2015: -$129,2862015Revenue 2016: $610,902Expenses 2016: $659,320Net Income 2016: -$48,4182016Revenue 2017: $526,798Expenses 2017: $605,133Net Income 2017: -$78,3352017Revenue 2018: $590,435Expenses 2018: $549,704Net Income 2018: $40,7312018Revenue 2019: $618,447Expenses 2019: $541,257Net Income 2019: $77,1902019Revenue 2020: $657,206Expenses 2020: $516,008Net Income 2020: $141,1982020Revenue 2021: $702,563Expenses 2021: $454,412Net Income 2021: $248,1512021Revenue 2022: $503,426Expenses 2022: $504,238Net Income 2022: -$8122022Revenue 2023: $496,334Expenses 2023: $510,644Net Income 2023: -$14,3102023Revenue 2024: $473,338Expenses 2024: $560,567Net Income 2024: -$87,2292024

Highlighted filing

2022

Revenue$503,426
Expenses$504,238
Net Income-$812
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 8, 2023
Return Version
2022v5.0
Gross Receipts
$503,426
Mission and Program Overview

Mission

Utah foundation's mission is to produce objective, thorough and well- reasoned research and analysis that promotes the effective use of public resources, a thriving economy, a well-prepared workforce and a high quality of life for utahns. Utah foundation seeks to help decision-makers and citizens understand and address complex issues. Utah foundation also offers constructive guidance to improve governmental policies, programs and structures. Utah foundation is an independent, nonpartisan, nonprofit research organization.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$343,558$545,179▲ $201,621
Pledges and Grants Receivable$170,000$15,000▼ $155,000
Accounts Receivable$46,400$13,390▼ $33,010
Total Assets$559,958$595,180▲ $35,222
Other Assets Total-$21,611-
Liabilities
Accounts Payable and Accrued Expenses$26,476$40,899▲ $14,423
Other Liabilities-$21,611-
Total Liabilities$26,476$62,510▲ $36,034
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$363,482$532,670▲ $169,188
Net Assets With Donor Restrictions$170,000--
Total Net Assets Fund Balance$533,482$532,670▼ $812
Total Liabilities and Net Assets / Fund Balance$559,958$595,180▲ $35,222
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Peter ReichardPresidentFT$171,064$16,200$187,264
Shawn TeigenPresidentFT$120,232$11,525$131,757
Revenue and Support

Revenue Composition

Contributions and Grants
$423,756
Program Service Revenue
$78,496
Investment Income
$1,174
Other Revenue
$0
All Other Contributions
$156,163
Change in Net Assets
$-812

Audited Revenue Reconciliation

Revenue per Audited Statements
$503,426
Total Revenue per Audited Statements
$503,426
Total Revenue per Form 990
$503,426
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$440,194
Other Expenses$64,044
Total Fundraising Expense$21,412
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$259,889$14,530$17,069$291,488
Other Salaries and Wages$82,022--$82,022
Pension Plan Contributions$30,678$1,304$1,532$33,514
Payroll Taxes$26,209$1,114$1,308$28,631
Fees for Services Other$22,515$3,338-$25,853
Occupancy$13,686$435$483$14,604
Office Expenses$9,760$368$409$10,537
Fees for Services Accounting-$6,834-$6,834
Other Employee Benefits$4,156$176$207$4,539
Travel$2,022$225$250$2,497
Insurance-$1,018-$1,018
Other Expenses$283$133$35$133
All Other Expenses--$119$119
Total Functional Expenses$451,220$31,606$21,412$504,238

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$504,238
Total Expenses per Audited Statements$504,238
Total Expenses per Form 990$504,238
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Lease Liability$21,611
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 9

Shawn teigen p.o. Box 387 salt lake city, ut 84110-0387

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

The 990 is reviewed by the executive director, board treasurer, and board chairman for accuracy and proper presentation. The executive director will address any questions and relay any suggestions for change.

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

Enforcement of any conflicts include: (a) approving or disapproving any transaction or situation at issue; (b) requiring the director to remove himself or herself from positions in which the conflict of interest exists until there is no longer a conflict; or (c) requiring the director to discontinue, reduce, or modify his or her participation on the board, committees, or task forces where the conflict exists.

Form 990, Page 6, Part VI, Line 15A

Executive director compensation is determined by the executive committee (a nine-member committee of the board given the task of governing the foundation's operations more closely than the entire board.) the executive committee is independent of the individuals whose compensation is being determined. In determining a reasonable level of compensation, board members consider salaries paid to other similar positions in the region. The deliberation and determination of the executive committee is done without staff present. Their final decision is recorded in the executive committee meeting minutes.

Form 990, Page 6, Part VI, Line 19

The organization's governing documents, conflict of interest policy, and financial statements are available for public inspection upon request at the organization's offices.

Filing and Contact Details

Filer

Filer Name
Utah Foundation
EIN
87-0199245
Phone
8013551400
Address
PO BOX 387, SALT LAKE CITY, UT 84110-0387

Signing Officer

Name
Shawn Teigen
Title
President
Phone
8013551400
Signed
2023-11-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Shawn Teigen
Formed
1945
Legal Domicile
Ut
Voting Board Members
19
Independent Board Members
19
Employees
3
Volunteers
65

Preparer

Firm
Bountiful Peak Advisors
Address
1564 SOUTH 500 WEST SUITE 201, BOUNTIFUL, UT 84010-7400
Preparer
Justin R Shaw CPA Cfe Cgma
Phone
8012943155
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

Utah foundation's mission is to produce objective, thorough and well- reasoned research and analysis that promotes the effective use of public resources, a thriving economy, a well-prepared workforce and a high quality of life for utahns. Utah foundation seeks to help decision-makers and citizens understand and address complex issues. Utah foundation also offers constructive guidance to improve governmental policies, programs and structures. Utah foundation is an independent, nonpartisan, nonprofit research organization.

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

Our work in 2022 is guiding policy leaders. We have made a direct impact on housing policy. We are shedding bright new light on utahs social fabric, understanding police recruitment and retention, pushing energy efficiency, opening opportunities for post-secondary education, informing infill development, and tracking utahns quality of life. We participated in conferences, hearings of public bodies and symposia, and met with dozens of civic leaders and elected officials. Our work was covered in the news media more than 75 times. With 14 major reports, 12 op-eds, 11 podcasts, six significant statistics posts, three videos, three breakfast briefings, and one brief, the utah foundation ended 2022 with 50 unique work products. That is nearly one work product per week. Utah foundation produced the following during 2022: - 11 podcasts - 14 major reports - received 3 national honors - produced 6 significant statistics - held 4 events - produced 12 op-ed articles - produced 3 online videos - had over 75 media appearances

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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.61$0.30$4.31$4.73$5.61$0.87
2023Summary only. Only limited summary data is available for this year.$5.69$0.50$5.18$4.96$5.11$0.14
2022Detailed filing. Detailed filing data is available for this year.$5.95$0.63$5.33$5.03$5.04$0.01
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.60$0.26$5.33$7.03$4.54$2.48
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.28$0.43$2.85$6.57$5.16$1.41
2019Summary only. Only limited summary data is available for this year.$1.61$0.16$1.44$6.18$5.41$0.77
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.90$0.23$0.67$5.90$5.50$0.41
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.58$0.32$0.26$5.27$6.05$0.78
2016Summary only. Only limited summary data is available for this year.$1.19$0.14$1.05$6.11$6.59$0.48
2015Summary only. Only limited summary data is available for this year.$1.70$0.17$1.53$5.81$7.11$1.29
2014Detailed filing. Detailed filing data is available for this year.$2.98$0.16$2.82$6.01$4.53$1.48
2013Detailed filing. Detailed filing data is available for this year.$1.40$0.06$1.34$3.83$3.64$0.19
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.26$0.11$1.15$4.07
2011Summary only. Only limited summary data is available for this year.$1.22$0.12$1.10$2.98$2.84$0.14
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.01$0.06$0.95$3.58
Peer Organizations

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