Utah Center For Affordable Housing
- Assets
- $16.6m
- Revenue
- $352.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Midvale, UT
- Founding
- 08/2010
- Data as of
- 12/2021
- EIN
- 27-0173489
Organization Overview
Utah Center For Affordable Housing is located in Midvale, UT. The organization was established in 2010. According to its NTEE Classification (L25) the organization is classified as: Housing Rehabilitation, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Utah Center For Affordable Housing is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Utah Center For Affordable Housing generated $352.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (4.0%) each year. All expenses for the organization totaled $367.2k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (4.6%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
UTAH CENTER FOR AFFORDABLE HOUSING ACQUIRES DISCOUNTED PROPERTIES FROM FINANCIAL INSTITUTIONS AND SELLS THEM TO AFFORDABLE HOUSING NON-PROFIT ORGANIZATIONS WHO SERVE LOWER INCOME POPULATIONS. THIS PROCESS SHOULD SERVE TO DECREASE THE NUMBER OF FORECLOSED PROPERTIES ON THE MARKET, STABILIZE NEIGHBORHOODS, AND PROVIDE AFFORDABLE HOUSING UNITS TO LOWER INCOME FAMILIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
UTAH CENTER FOR AFFORDABLE HOUSING (UCAH) WAS ESTABLISHED IN 2009 WITH A MISSION TO STABILIZE NEIGHBORHOODS AND INCREASE AFFORDABLE HOUSING BY COLLABORATING WITH AFFORDABLE HOUSING PROVIDERS, FUNDING SOURCES AND FINANCIAL INSTITUTIONS. IN 2021 UCAH RECEIVED THE PAYOFF OF 2 RECAPTURE ON HOMES WITH NSP FUNDS. THE HUNTINGTON PROPERTY RECEIVES PROGRAM INCOME, AND ADMIN EXPENSES ARE ACCOUNTED FOR IN THE FOLLOWING EXPENSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jonathan Hanks Former Chairman | OfficerTrustee | 1 | $0 |
Kisty Morris Chairman | OfficerTrustee | 1 | $0 |
Phillip Meeks Vice Chairman | OfficerTrustee | 1 | $0 |
Todd Boren Treasurer | OfficerTrustee | 1 | $0 |
Dan Adams Executive Director | Officer | 16 | $0 |
David Brown Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $349,275 |
| Investment income | $2,762 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $352,037 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $200 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $34,446 |
| Compensation of current officers, directors, key employees. | $33,349 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $89,649 |
| Pension plan accruals and contributions | $1,604 |
| Other employee benefits | $12,997 |
| Payroll taxes | $7,848 |
| Fees for services: Management | $28,031 |
| Fees for services: Legal | $700 |
| Fees for services: Accounting | $34,847 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $13,167 |
| Travel | $1,154 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $72,729 |
| Insurance | $14,250 |
| All other expenses | $1,249 |
| Total functional expenses | $367,197 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,299,857 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,998 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $8,595,455 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $5,667 |
| Net Land, buildings, and equipment | $1,726,262 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $16,632,239 |
| Accounts payable and accrued expenses | $45,932 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $24,899 |
| Total liabilities | $70,831 |
| Net assets without donor restrictions | $10,319,058 |
| Net assets with donor restrictions | $6,242,350 |
| 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 | $16,632,239 |
Grants Awarded
Over the last fiscal year, Utah Center For Affordable Housing has awarded $81,129 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Midvale, UT PURPOSE: UTAH CENTER FOR NEIGHBORHOOD STABILIZATION: UCNS IS THE UMBRELLA OR PARENT ORGANIZATION OVER SEVERAL RELATED NON-PROFIT ORGANIZATIONS, INCLUDING HOUSING PLUS, UTAH CENTER FOR AFFORDABLE HOUSING, AND THEIR DISREGARDED ENTITIES. IN 2016, UCNS BEGAN PAYING ALL COMMON EXPENSES FOR PERSONNEL AND OFFICE EXPENSES. THOSE EXPENSES ARE ALLOCATED TO EACH ENTITY AND REIMBURSED TO UCNS. AS UCNS HAD NO OTHER SOURCE OF FUNDS AT THE TIME, UCAH SERVICING GROUP DONATED $50,000 AS UNRESTRICTED OPERATING SUPPORT TO ASSIST IN PAYING THESE COMMON EXPENSES AS WELL AS TO ASSIST IN FUNDING THE SHARE OF EXPENSES ALLOCATED TO UCNS. | $65,000 |
Ogden, UT PURPOSE: GENERAL SUPPORT | $16,129 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Primavera Foundation Inc Tucson, AZ | $17,866,419 | $11,969,146 |
Del Norte Neighborhood Development Corporation Denver, CO | $34,154,860 | $3,468,317 |
Habitat For Humanity International Inc Durango, CO | $4,364,928 | $1,729,163 |
Boulder Housing Coalition Boulder, CO | $4,706,704 | $707,293 |
Mother Marys Sober Home Inc Littleton, CO | $19,442 | $502,925 |
Mercy Bond Properties Colorado I Denver, CO | $2,483,916 | $591,327 |
Aurora Housing Corporation Denver, CO | $12,062,943 | $724,944 |
Utah Center For Affordable Housing Midvale, UT | $16,632,239 | $352,037 |
Hearts Desire Lovington, NM | $668,370 | $274,185 |
Cerebral Palsy Of Utah Housing Corporation South Jordan, UT | $518,011 | $202,315 |
Hosanna Home Sparks, NV | $892,617 | $251,278 |
Rebuilding Together Northern Nevada Inc Reno, NV | $213,755 | $176,399 |