Utah World Trade Center
- Assets
- $4.4m
- Revenue
- $4.6m
- Investments
- $0.0
- Employees
- 23
- Location
- Salt Lake City, UT
- Founding
- 12/2016
- Data as of
- 12/2022
- EIN
- 20-3755734
Organization Overview
Utah World Trade Center is located in Salt Lake City, UT. The organization was established in 2016. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, Utah World Trade Center employed 23 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Utah World Trade Center is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2022, Utah World Trade Center generated $4.6m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 18.7% each year . All expenses for the organization totaled $4.6m during the year ending 12/2022. While expenses have increased by 24.0% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Utah World Trade Center has awarded 94 individual grants totaling $879,072. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
WORLD TRADE CENTERUTAHACCELERATES GROWTH FOR UTAH COMPANIES THROUGH OUR GLOBAL NETWORKS, PROGRAMS, AND SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WORLD TRADE CENTER UTAH LEADS UTAH'S INTERNATIONAL BUSINESS DEVELOPMENT AND ELEVATES UTAH'S GLOBAL STATUS TO PROMOTE PROSPERITY AND BUILD ECONOMIC RESILIENCE. WTC UTAH ACCOMPLISHES THIS MISSION BY PURSUING THREE KEY OBJECTIVES: 1) EMPOWER UTAH BUSINESSES TO EXPAND INTERNATIONAL SALES TO INCREASE REVENUE AND CREATE JOBS, 2) ATTRACT FOREIGN INVESTMENT AND FACILITATE INTERNATIONAL PARTNERSHIPS TO FUEL INNOVATION AND BUSINESS DEVELOPMENT, AND 3) MOBILIZE TEAM UTAH'S INTERNATIONAL ENGAGEMENT TO ELEVATE UTAH'S GLOBAL STATUS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Miles Hansen President & | OfficerTrustee | 40 | $296,615 |
Aaron Starks Cro | Officer | 40 | $177,792 |
Jennifer Nakao CFO | Officer | 40 | $122,246 |
Tiffeny Yen-Louie Cmo | 40 | $126,017 | |
David Carlebach COO | 40 | $103,425 | |
Scott Anderson Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,629,639 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,559,865 |
| All other contributions, gifts, grants, and similar amounts not included above | $27,209 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,216,713 |
| Total Program Service Revenue | $394,004 |
| Investment income | $101 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,104 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,609,714 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,132,325 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $667,141 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,130,381 |
| Pension plan accruals and contributions | $48,027 |
| Other employee benefits | $91,289 |
| Payroll taxes | $234,611 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $32,576 |
| Fees for services: Accounting | $45,210 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $111,420 |
| Advertising and promotion | $145,659 |
| Office expenses | $51,238 |
| Information technology | $117,020 |
| Royalties | $0 |
| Occupancy | $60,266 |
| Travel | $54,880 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $185,746 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $21,933 |
| Insurance | $2,238 |
| All other expenses | $3,351 |
| Total functional expenses | $4,614,182 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,196,751 |
| Savings and temporary cash investments | $416,450 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,051,489 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $200,301 |
| Net Land, buildings, and equipment | $202,592 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $321,312 |
| Total assets | $4,388,895 |
| Accounts payable and accrued expenses | $358,545 |
| Grants payable | $0 |
| Deferred revenue | $19,564 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $378,109 |
| Net assets without donor restrictions | $2,593,039 |
| Net assets with donor restrictions | $1,417,747 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $4,388,895 |
Grants Awarded
Over the last fiscal year, Utah World Trade Center has awarded $580,332 in support to 58 organizations.
| Grant Recipient | Amount |
|---|---|
3HELIX INC PURPOSE: TRADE PROMOTION | $10,625 |
A BETTER DRILL INC PURPOSE: TRADE PROMOTION | $9,000 |
AMBOSELI FOODS LLC PURPOSE: TRADE PROMOTION | $6,000 |
CBC BEVCO PURPOSE: TRADE PROMOTION | $13,200 |
CONDUCTIVE GROUP LLC PURPOSE: TRADE PROMOTION | $9,000 |
AXCEND LLC PURPOSE: TRADE PROMOTION | $10,000 |