Civic Intelligence

Utah Foundation

990 • Fiscal year 2023 • EIN 87-0199245

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 07, 2024

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

66th percentile

0.09x

Higher debt load relative to assets than 66% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Liabilities / Revenue

68th percentile

0.10x

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

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Net Margin

34th percentile

-2.9%

Higher net margin than 34% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Top Officer Pay

95th percentile

$164,689

Higher top officer pay than 95% of similar nonprofits.

Top officer pay equals 33.2% of source-year revenue.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Asset Growth

27th percentile

-4.4%

Faster asset growth than 27% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Revenue Growth

35th percentile

-1.4%

Faster revenue growth than 35% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Assets

Flat

$568,817

Flat from 2023

Net Assets

Flat

$518,360

Flat from 2023

Liabilities

Flat

$50,457

Flat from 2023

Revenue

Flat

$496,334

Flat from 2023

Expenses

Flat

$510,644

Flat from 2023

Net Income

Flat

-$14,310

Flat from 2023

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 2023: $568,817Liabilities 2023: $50,457Net Assets 2023: $518,3602023Assets 2024: $460,876Liabilities 2024: $29,748Net Assets 2024: $431,1282024

Highlighted filing

2023

Assets$568,817
Liabilities$50,457
Net Assets$518,360

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 2023: $496,334Expenses 2023: $510,644Net Income 2023: -$14,3102023Revenue 2024: $473,338Expenses 2024: $560,567Net Income 2024: -$87,2292024

Highlighted filing

2023

Revenue$496,334
Expenses$510,644
Net Income-$14,310
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 7, 2024
Return Version
2023v5.0
Gross Receipts
$496,334
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$545,179$487,098▼ $58,081
Accounts Receivable$13,390$70,840▲ $57,450
Pledges and Grants Receivable$15,000--
Total Assets$595,180$568,817▼ $26,363
Other Assets Total$21,611$10,879▼ $10,732
Liabilities
Accounts Payable and Accrued Expenses$40,899$50,532▲ $9,633
Other Liabilities$21,611$-75▼ $21,686
Total Liabilities$62,510$50,457▼ $12,053
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$532,670$518,360▼ $14,310
Total Net Assets Fund Balance$532,670$518,360▼ $14,310
Total Liabilities and Net Assets / Fund Balance$595,180$568,817▼ $26,363
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Shawn TeigenPresidentFT$146,827$17,862$164,689
Revenue and Support

Revenue Composition

Contributions and Grants
$410,839
Program Service Revenue
$69,500
Investment Income
$15,995
Other Revenue
$0
All Other Contributions
$208,850
Change in Net Assets
$-14,310

Audited Revenue Reconciliation

Revenue per Audited Statements
$496,334
Total Revenue per Audited Statements
$496,334
Total Revenue per Form 990
$496,334
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$430,615
Other Expenses$80,029
Total Fundraising Expense$21,405
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$213,451$4,778$210$218,439
Current Officers, Directors, Trustees, and Key Employees$117,600$14,700$14,700$147,000
Pension Plan Contributions$28,394$1,207$1,418$31,019
Payroll Taxes$26,429$1,555$1,190$29,174
Fees for Services Other$19,704$3,324-$23,028
Office Expenses$19,756$281$314$20,351
Occupancy$11,545$1,164$1,293$14,002
Fees for Services Accounting-$6,215-$6,215
Other Employee Benefits$4,220$712$51$4,983
Travel$3,832$426$473$4,731
Insurance-$2,225-$2,225
Other Expenses$815$135$101$135
All Other Expenses-$-5-$-5
Total Functional Expenses$450,154$39,085$21,405$510,644

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$510,644
Total Expenses per Audited Statements$510,644
Total Expenses per Form 990$510,644
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$-75
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
2024-11-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Shawn Teigen
Formed
1945
Legal Domicile
Ut
Voting Board Members
17
Independent Board Members
17
Employees
4
Volunteers
3

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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IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt1TRUSTEE
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IRS990/Form990PartVIISectionAGrp/TitleTxt4TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt5TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt6TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt7TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt8TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt9TRUSTEE
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IRS990/Form990PartVIISectionAGrp/TitleTxt12TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt13TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt14TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt15TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt16TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt17SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt18TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt19TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt20CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt21TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt22TRUSTEE
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IRS990/FormationYr01945
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IRS990/MissionDesc0UTAH 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.
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IRS990/OtherEmployeeBenefitsGrp/FundraisingAmt051
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt0712
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt04220
IRS990/OtherEmployeeBenefitsGrp/TotalAmt04983
IRS990/OtherExpensesGrp/Desc0MISCELLANEOUS
IRS990/OtherExpensesGrp/Desc1BANK CHARGES
IRS990/OtherExpensesGrp/Desc2LIBRARY
IRS990/OtherExpensesGrp/Desc3LICENSE & PERMITS
IRS990/OtherExpensesGrp/FundraisingAmt01655
IRS990/OtherExpensesGrp/FundraisingAmt1101
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt0490
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt11787
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt291
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IRS990/OtherExpensesGrp/TotalAmt11787
IRS990/OtherExpensesGrp/TotalAmt21007
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IRS990/OtherSalariesAndWagesGrp/FundraisingAmt0210
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IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0213451
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IRS990/PartialLiquidationInd0false
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IRS990/PayrollTaxesGrp/ProgramServicesAmt026429
IRS990/PayrollTaxesGrp/TotalAmt029174
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IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt01207
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt028394
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IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0SHAWN TEIGEN
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IRS990/PYContributionsGrantsAmt0423756
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IRS990/PYInvestmentIncomeAmt01174
IRS990/PYOtherExpensesAmt064044
IRS990/PYProgramServiceRevenueAmt078496
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IRS990/PYTotalExpensesAmt0504238
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IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0-14310
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
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IRS990/SavingsAndTempCashInvstGrp/EOYAmt0487098
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IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus2YearsAmt0284500
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus3YearsAmt0207416
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus4YearsAmt0221600
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IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt0423756
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt0618381
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt0539105
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt0490281
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt02482362
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IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt020
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0118081
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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
2023Detailed filing. Detailed filing data is available for this year.$5.69$0.50$5.18$4.96$5.11$0.14
2023Summary only. Only limited summary data is available for this year.$5.69$0.50$5.18$4.96$5.11$0.14
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$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