Utah Center For Neighborhood Stabilization

Organization Overview

Utah Center For Neighborhood Stabilization is located in Midvale, UT. The organization was established in 2014. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. As of 12/2021, Utah Center For Neighborhood Stabilization employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Utah Center For Neighborhood Stabilization 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 Neighborhood Stabilization generated $2.5m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.3%) each year. All expenses for the organization totaled $866.0k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

THE UTAH CENTER FOR NEIGHBORHOOD STABILIZATION STABILIZES NEIGHBORHOODS THROUGH ITS SUBSIDIARY ORGANIZATIONS BY PROVIDING SINGLE FMAILY AND MULTI-FAMILY AFFORDABLE HOUSING, NEIGHBORHOOD REVITALIZATION, AND SMALL BUSINESS LENDING AND INVESTING.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE UETOD IS A STRUCTURED $35 MILLION REVOLVING LOAN FUND. THE LOAN FUND PROVIDES FLEXIBLE SHORT-TERM FINANCING FOR DEVELOPERS TO PURCHASE AND/OR DEVELOP TRANSIT ORIENTED AFFORDABLE HOUSING NEAR PUBLIC TRANSPORTATION THROUGHOUT THE WASATCH FRONT. ALL HOUSING UNITS FINANCED BY THE UETOD WILL BE DESIGNATED FOR RESIDENTS WITH HOUSEHOLD INCOME EQUAL TO OR LESS THAN 80% OF AREA MEDIAN INCOME (AMI). FOR RENTAL PROJECTS, AT LEAST 60% OF THE TOTAL UNITS WILL BE FOR RESIDENTS AT 60% AMI OR BELOW. IN ADDITION, THE FUND WILL ENSURE THAT ALL RENTAL UNITS/HOMES MEET THE ABOVE AFFORDABILITY REQUIREMENTS.BOTH NON-PROFIT AND FOR-PROFIT DEVELOPERS WILL BE ABLE TO ACCESS THE FUND'S RESOURCES. THE FUND PROVIDES AN ACQUISITION AND PREDEVELOPMENT SOURCE OF CAPITAL TO ALLOW DEVELOPERS TO SECURE KEY PROPERTIES, AND CONSTRUCTION FINANCING FOR THESE SAME PROJECTS. WHEREAS SOME GEOGRAPHIES MAY HAVE A GREATER NEED TO TARGET A LOWER AMI, OTHER AREAS HAVE ALREADY ESTABLISHED ENOUGH HOUSING TO ACCOMMODATE THE DEEPER TARGETS AND ARE LOOKING TO BRING MORE MARKET RATE UNITS TO THE AREA.AS OF DECEMBER 31, 2021, FOUR TRANSIT-ORIENTED DEVELOPMENT LOANS WERE ISSUED AND OUTSTANDING FOR A TOTAL OF $3,534,612. OF THAT TOTAL, $1,778,485 OF THE $7,000,000 TOP LOSS WAS COMMITTED FOR THE FOUR TRANSIT-ORIENTED DEVELOPMENT PROJECTS.


THE UTAH CENTER FOR NEIGHBORHOOD STABILIZATION STABILIZES NEIGHBORHOODS THROUGH ITS SUBSIDIARY ORGANIZATIONS BY PROVIDING SINGLE FMAILY AND MULTI-FAMILY AFFORDABLE HOUSING, NEIGHBORHOOD REVITALIZATION, AND SMALL BUSINESS LENDING AND INVESTING.


UTAH SMALL BUSINESS GROWTH INITIATIVE (USBGI) IS A LIMITED LIABILITY COMPANY ORGANIZED IN THE STATE OF UTAH ON JUNE 11, 2012 FOR THE PURPOSE OF CREATING JOBS AND STABILIZING UTAH'S NEIGHBORHOODS BY PROVIDING GROWING BUSINESSES WITH ACCESS TO CAPITAL. USBGI'S PROGRAM SERVICES INCLUDE, A) PROVIDING EARLY-STAGE INVESTMENT CAPITAL, B) FACILITATING LOAN GUARANTEES TO SMALL BUSINESSES BETWEEN FINANCIAL INSTITUTIONS AND THE STATE OF UTAH, AND C) PARTICIPATING IN LOANS ALONGSIDE OTHER FINANCIAL INSTITUTIONS. TO DATE, USBGI HAS BEEN ABLE TO LEVERAGE APPROXIMATELY $8.5 MILLION IN FUNDS TO GIVE SMALL BUSINESSES ACCESS TO APPROXIMATELY $50 MILLION IN CAPITAL TO HELP GROW THEIR BUSINESSES. THAT CAPITAL WAS REPORTED TO HAVE HELPED TO CREATE APPROXIMATELY 550 JOBS AND RETAIN APPROXIMATELY 1,800 JOBS. CAPITAL HAS BEEN MADE AVAILABLE TO WOMEN-OWNED AND MINORITY-OWNED BUSINESSES IN LOW-INCOME AND RURAL AREAS. USBGI IS A WHOLLY-OWNED SUBSIDIARY OF THE NONPROFIT UTAH CENTER FOR NEIGHBORHOOD STABILIZATION (UCNS). UCNS SERVES AS AN UMBRELLA ORGANIZATION FOR SEVERAL DIFFERENT ENTITIES IN ADDITION TO USBGI.


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Board, Officers & Key Employees

Name (title)Compensation
Dan Adams
Executive Director
$206,862
Amy Thornton
VP Programs
$129,868
Paul K Johnson
Risk Manager
$113,859
Jonathan Hanks
Former Chairman
$0
Kisty Morris
Chairman
$0
Todd Boren
Treasurer
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $171,050
All other contributions, gifts, grants, and similar amounts not included above$55,053
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$226,103
Total Program Service Revenue$490,276
Investment income $86,337
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $1,732,320
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $2,535,036

Grants Recieved

Over the last fiscal year, we have identified 1 grants that Utah Center For Neighborhood Stabilization has recieved totaling $43.

Awarding OrganizationAmount
Amazonsmile Foundation

Seattle, WA

PURPOSE: GENERAL SUPPORT

$43
View Grant Recipient Profile

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