Civic Intelligence

Utah Certified Development Company

990 • Fiscal year 2022 • EIN 87-0477091

Oct 01, 2021 to Sep 30, 2022 • Filed on Dec 14, 2022

Organization ProfileWWW.UTAHCDC.COM
5333 S Adams Ave Ste BOgden, UT 84405

(801) 627-1333

Siviq Scores

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

Liabilities / Assets

65th percentile

0.27x

Higher debt load relative to assets than 65% of similar nonprofits.

2022 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

58th percentile

0.26x

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

2022 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2022

Net Margin

52nd percentile

5.7%

Higher net margin than 52% of similar nonprofits.

2022 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

92nd percentile

$345,000

Higher top officer pay than 92% of similar nonprofits.

Top officer pay equals 10.8% of source-year revenue.

2022 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2022

Asset Growth

23rd percentile

-8.5%

Faster asset growth than 23% of similar nonprofits.

2022 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

79th percentile

34%

Faster revenue growth than 79% of similar nonprofits.

2022 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets65th percentile

Assets

Down

$3,055,296

Down $285,351 (-8.5%) from 2021

Net Assets

Down

$2,238,062

Down $271,644 (-11%) from 2021

Liabilities

Down

$817,234

Down $13,707 (-1.6%) from 2021

Revenue And Expenses
Liabilities / Revenue58th percentileNet Margin52nd percentile

Revenue

Up

$3,200,082

Up $803,991 (+34%) from 2021

Expenses

Up

$3,017,537

Up $539,401 (+22%) from 2021

Net Income

Up

$182,545

Up $264,590 (+322%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth23rd percentile

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2011: $1,698,056Liabilities 2011: $273,701Net Assets 2011: $1,424,3552011Assets 2012: $1,770,690Liabilities 2012: $211,873Net Assets 2012: $1,558,8172012Assets 2013: $1,785,200Liabilities 2013: $398,102Net Assets 2013: $1,387,0982013Assets 2014: $1,765,157Liabilities 2014: $240,794Net Assets 2014: $1,524,3632014Assets 2015: $1,803,399Liabilities 2015: $257,444Net Assets 2015: $1,545,9552015Assets 2016: $1,856,070Liabilities 2016: $223,188Net Assets 2016: $1,632,8822016Assets 2017: $1,904,155Liabilities 2017: $289,606Net Assets 2017: $1,614,5492017Assets 2018: $2,303,819Liabilities 2018: $567,194Net Assets 2018: $1,736,6252018Assets 2019: $2,396,669Liabilities 2019: $420,792Net Assets 2019: $1,975,8772019Assets 2020: $2,629,409Liabilities 2020: $309,572Net Assets 2020: $2,319,8372020Assets 2021: $3,340,647Liabilities 2021: $830,941Net Assets 2021: $2,509,7062021Assets 2022: $3,055,296Liabilities 2022: $817,234Net Assets 2022: $2,238,0622022Assets 2023: $2,892,245Liabilities 2023: $842,732Net Assets 2023: $2,049,5132023Assets 2024: $2,980,702Liabilities 2024: $658,671Net Assets 2024: $2,322,0312024Assets 2025: $3,388,977Liabilities 2025: $931,677Net Assets 2025: $2,457,3002025

Highlighted filing

2022

Assets$3,055,296
Liabilities$817,234
Net Assets$2,238,062
Open 2022 Filing

Operations Trend

Revenue Growth79th percentile

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

$4.0M$3.0M$2.0M$1.0M$0-$1.0MRevenue 2011: $1,627,885Expenses 2011: $1,672,822Net Income 2011: -$44,9372011Revenue 2012: $2,107,344Expenses 2012: $2,021,617Net Income 2012: $85,7272012Revenue 2013: $1,907,481Expenses 2013: $2,084,519Net Income 2013: -$177,0382013Revenue 2014: $2,017,840Expenses 2014: $1,896,491Net Income 2014: $121,3492014Revenue 2015: $1,853,564Expenses 2015: $1,794,305Net Income 2015: $59,2592015Revenue 2016: $1,822,841Expenses 2016: $1,813,750Net Income 2016: $9,0912016Revenue 2017: $1,927,563Expenses 2017: $2,050,804Net Income 2017: -$123,2412017Revenue 2018: $2,019,648Expenses 2018: $1,927,983Net Income 2018: $91,6652018Revenue 2019: $2,416,751Expenses 2019: $2,205,644Net Income 2019: $211,1072019Revenue 2020: $2,648,387Expenses 2020: $2,325,288Net Income 2020: $323,0992020Revenue 2021: $2,396,091Expenses 2021: $2,478,136Net Income 2021: -$82,0452021Revenue 2022: $3,200,082Expenses 2022: $3,017,537Net Income 2022: $182,5452022Revenue 2023: $2,629,750Expenses 2023: $2,999,359Net Income 2023: -$369,6092023Revenue 2024: $3,331,186Expenses 2024: $3,350,269Net Income 2024: -$19,0832024Revenue 2025: $3,428,141Expenses 2025: $3,250,360Net Income 2025: $177,7812025

Highlighted filing

2022

Revenue$3,200,082
Expenses$3,017,537
Net Income$182,545
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2021 to Sep 30, 2022
Signed
Dec 14, 2022
Return Version
2021v4.2
Gross Receipts
$3,200,082
Mission and Program Overview

Mission

The organization meets with state agencies, local bankers,community organizations, and local business people to promote and provide service to businesses that qualify for the small admin 504 loan program. Originated and services 504 loans to small businesses in utah.

The organization meets with state agencies, local bankers,community organizations, and local business people to promote and provide service to businesses that qualify for the small business admin 504 loan program. Originated and services 504 loans to small businesses in utah.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$2,291,541$1,837,352▼ $454,189
Land, Buildings, and Equipment, Net$523,751$609,899▲ $86,148
Cash and Non-Interest-Bearing Accounts$415,738$394,527▼ $21,211
Accounts Receivable$109,617$213,518▲ $103,901
Total Assets$3,340,647$3,055,296▼ $285,351
Liabilities
Accounts Payable and Accrued Expenses$435,577$687,078▲ $251,501
Deferred Revenue$395,364$130,156▼ $265,208
Total Liabilities$830,941$817,234▼ $13,707
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,509,706$2,238,062▼ $271,644
Total Net Assets Fund Balance$2,509,706$2,238,062▼ $271,644
Total Liabilities and Net Assets / Fund Balance$3,340,647$3,055,296▼ $285,351

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings-$54,142-
Equipment$178,761$174,754-
Leasehold Improvements$431,138$170,610-
Compensation and Service Providers
Top Officer Pay92nd percentile

Employees

NameTitleBaseTotal
Robert D RichardsPresident & CEO$345,000$345,000
Adam WhiteEmployee$219,500$219,500
Caryl ErikssonEmployee$152,500$152,500
Mikel BowmenEmployee$140,000$140,000

Board Members and Trustees

NameTitle
Brandon StoddardBoard Member
Bruce AshcroftBoard Member
Dan MusgraveBoard Member
Erich SontagBoard Member
Jay ThompsonBoard Member
John GagonBoard Member
Kerry WahlenBoard Member
Michael PollBoard Member
Tom ChristopulosBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$3,199,390
Investment Income
$692
Other Revenue
$0
Change in Net Assets
$182,545

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,200,082
Revenue Not Reported on Form 990
$-454,189
Total Revenue per Audited Statements
$2,745,893
Total Revenue per Form 990
$3,200,082
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$2,010,392
Other Expenses$990,498
Grants and Similar Amounts Paid$16,647
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,010,392--$2,010,392
Occupancy$165,672--$165,672
Depreciation Depletion$86,925--$86,925
Conferences and Meetings$83,770--$83,770
Travel$79,804--$79,804
Other Expenses$73,529--$73,529
Insurance$27,788--$27,788
Grants to Domestic Orgs$16,647--$16,647
Fees for Services Accounting$12,185--$12,185
All Other Expenses$-11,869--$-11,869
Total Functional Expenses$3,017,537$0$0$3,017,537

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,017,537
Total Expenses per Audited Statements$3,017,537
Total Expenses per Form 990$3,017,537
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Misc---$16,647
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
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Gh Properties Management LLCOffice RentalOf Annual Rent PmtNo$129,648
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
No
Business relationship with 35% controlled entity
Yes
Business relationship with family members
No
Business relationship with organization members
Yes
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Members or stockholder classes and rights Part VI line 6

“The organization has a board of directors”

Member election for additional members Part VI line 7A

“Board members serve a 4 year term and can be reelected to the board for a total of 2 terms or 8 years at which time they are no longer elegible to serve for a minimum of one year. The make up of the board of directors is governed by the sba sop to ensure diversity of make up while maintain the expertise necessary to direct a lending institution. The board nominates qualified indivuduals form the community to serve as replacements for those individual board members whose terms have expired.”

Form 990 governing body review Part VI line 11

“The 990 is presented at a board meeting and approved to be filed by the board of directors”

Conflict of interest policy compliance Part VI line 12C

“Annual written certification of conflicts of interest required of all directors and officers”

CEO executive director top management comp Part VI line 15A

“Compensation of the executive director is determined by the compensation committee. The executive director then establishes other employee compensation based on performance. All w2 information is reported under a leasing companys federal id.”

Other officer or key employee compensation Part VI line 15B

“Compensation of the executive director is determined by the compensation committee. The executive director then establishes other employee compensation based on performance. All w2 information is reported under a leasing companys federal id.”

Governing documents etc available to public Part VI line 19

“Governing documents, comflicts of interest, and other documents can be obtained by written request”

Filing and Contact Details

Filer

Filer Name
Utah Certified Development Company
EIN
87-0477091
Address
5333 S ADAMS AVE STE B, OGDEN, UT 84405

Signing Officer

Name
Robert D Richards
Title
President & CEO
Phone
8016271333
Signed
2022-12-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Robert D Richards
Formed
1979
Legal Domicile
Ut
Voting Board Members
10
Independent Board Members
9
Employees
15

Preparer

Firm
Litz & Company Pc
Address
5145 S AIRPORT RD STE 100, Roy, UT 84067
Preparer
Brent Litz CPA
Phone
8018254100
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IRS990/PrincipalOfficerNm0ROBERT D RICHARDS
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt11079203
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt21374829
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt3117013
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt21374829
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IRS990/PYTotalRevenueAmt02396091
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IRS990ScheduleD/EquipmentGrp/DepreciationAmt0174754
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IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0170610
IRS990ScheduleD/LeaseholdImprovementsGrp/InvestmentCostOrOtherBasisAmt0601748
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IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt054142
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt054142
IRS990ScheduleD/RevenueNotReportedAmt0-454189
IRS990ScheduleD/RevenueSubtotalAmt03200082
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0609899
IRS990ScheduleD/TotalExpensesPerForm990Amt03017537
IRS990ScheduleD/TotalRevenuePerForm990Amt03200082
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt02745893
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt03017537
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IRS990ScheduleI/RecipientTable/CashGrantAmt016647
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0MISC
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/ClubDuesOrFeesInd0X
IRS990ScheduleJ/CompensationCommitteeInd0X
IRS990ScheduleJ/CompensationSurveyInd0X
IRS990ScheduleJ/Form990OfOtherOrganizationsInd0X
IRS990/ScheduleJRequiredInd0true
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0345000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt1152500
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt2219500
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0ROBERT D RICHARDS
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1CARYL ERIKSSON
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm2ADAM WHITE
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT & CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1EMPLOYEE
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt2EMPLOYEE
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt1152500
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt2219500
IRS990ScheduleJ/SeverancePaymentInd0false
IRS990ScheduleJ/SubstantiationRequiredInd0true
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IRS990ScheduleJ/WrittenPolicyRefTAndEExpnssInd0true
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm0GH PROPERTIES MANAGEMENT LLC
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0OFFICE RENTAL
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt0129648
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0OF ANNUAL RENT PMT
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION HAS A BOARD OF DIRECTORS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1BOARD MEMBERS SERVE A 4 YEAR TERM AND CAN BE REELECTED TO THE BOARD FOR A TOTAL OF 2 TERMS OR 8 YEARS AT WHICH TIME THEY ARE NO LONGER ELEGIBLE TO SERVE FOR A MINIMUM OF ONE YEAR. THE MAKE UP OF THE BOARD OF DIRECTORS IS GOVERNED BY THE SBA SOP TO ENSURE DIVERSITY OF MAKE UP WHILE MAINTAIN THE EXPERTISE NECESSARY TO DIRECT A LENDING INSTITUTION. THE BOARD NOMINATES QUALIFIED INDIVUDUALS FORM THE COMMUNITY TO SERVE AS REPLACEMENTS FOR THOSE INDIVIDUAL BOARD MEMBERS WHOSE TERMS HAVE EXPIRED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE 990 IS PRESENTED AT A BOARD MEETING AND APPROVED TO BE FILED BY THE BOARD OF DIRECTORS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ANNUAL WRITTEN CERTIFICATION OF CONFLICTS OF INTEREST REQUIRED OF ALL DIRECTORS AND OFFICERS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4COMPENSATION OF THE EXECUTIVE DIRECTOR IS DETERMINED BY THE COMPENSATION COMMITTEE. THE EXECUTIVE DIRECTOR THEN ESTABLISHES OTHER EMPLOYEE COMPENSATION BASED ON PERFORMANCE. ALL W2 INFORMATION IS REPORTED UNDER A LEASING COMPANYS FEDERAL ID.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5COMPENSATION OF THE EXECUTIVE DIRECTOR IS DETERMINED BY THE COMPENSATION COMMITTEE. THE EXECUTIVE DIRECTOR THEN ESTABLISHES OTHER EMPLOYEE COMPENSATION BASED ON PERFORMANCE. ALL W2 INFORMATION IS REPORTED UNDER A LEASING COMPANYS FEDERAL ID.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6GOVERNING DOCUMENTS, COMFLICTS OF INTEREST, AND OTHER DOCUMENTS CAN BE OBTAINED BY WRITTEN REQUEST
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Members or stockholder classes and rights Part VI line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Member election for additional members Part VI line 7a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Conflict of interest policy compliance Part VI line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4CEO executive director top management comp Part VI line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Other officer or key employee compensation Part VI line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Governing documents etc available to public Part VI line 19
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IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsEOYAmt03055296
IRS990/TotalAssetsGrp/BOYAmt03340647
IRS990/TotalAssetsGrp/EOYAmt03055296
IRS990/TotalCompGreaterThan150KInd0true
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt03017537
IRS990/TotalFunctionalExpensesGrp/TotalAmt03017537
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0830941
IRS990/TotalLiabilitiesEOYAmt0817234
IRS990/TotalLiabilitiesGrp/BOYAmt0830941
IRS990/TotalLiabilitiesGrp/EOYAmt0817234
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IRS990/TravelGrp/TotalAmt079804
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IRS990/WebsiteAddressTxt0WWW.UTAHCDC.COM

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,055,296
Liabilities
$817,234
Net assets
$2,238,062
Revenue
$3,200,082
Expenses
$3,017,537
Net income
$182,545
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$3.39$0.93$2.46$3.43$3.25$0.18
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.98$0.66$2.32$3.33$3.35$0.02
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.89$0.84$2.05$2.63$3.00$0.37
2022Detailed filing. Detailed filing data is available for this year.$3.06$0.82$2.24$3.20$3.02$0.18
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.34$0.83$2.51$2.40$2.48$0.08
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.63$0.31$2.32$2.65$2.33$0.32
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.40$0.42$1.98$2.42$2.21$0.21
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.30$0.57$1.74$2.02$1.93$0.09
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.90$0.29$1.61$1.93$2.05$0.12
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.86$0.22$1.63$1.82$1.81$0.01
2015Summary only. Only limited summary data is available for this year.$1.80$0.26$1.55$1.85$1.79$0.06
2014Summary only. Only limited summary data is available for this year.$1.77$0.24$1.52$2.02$1.90$0.12
2013Summary only. Only limited summary data is available for this year.$1.79$0.40$1.39$1.91$2.08$0.18
2012Summary only. Only limited summary data is available for this year.$1.77$0.21$1.56$2.11$2.02$0.09
2011Summary only. Only limited summary data is available for this year.$1.70$0.27$1.42$1.63$1.67$0.04