Business Training & Resource Center
- Assets
- $1.6m
- Revenue
- $4.9m
- Investments
- $0.0
- Employees
- 19
- Location
- Orem, UT
- Founding
- 02/2015
- Data as of
- 12/2023
- EIN
- 46-4634013
Organization Overview
Business Training & Resource Center, operating under the name Impact Utah, is located in Orem, UT. The organization was established in 2015. According to its NTEE Classification (S40) the organization is classified as: Business & Industry, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Impact Utah employed 19 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Impact Utah 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 12/2023, Impact Utah generated $4.9m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 40.2% each year . All expenses for the organization totaled $5.2m during the year ending 12/2023. While expenses have increased by 45.5% per year over the past 5 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDER OF BUSINESS TRAINING
Describe the Organization's Program Activity:
Part 3 - Line 4a
WE WORKED WITH 209 CLIENT MANUFACTURING ESTABLISHMENTS. THE DIRECT EFFECT OF OUR WORK WAS THE EQUIVALENT OF 1172 JOBS AND OVER $163.2 MILLION IN SALES FOR 2023.THE TOTAL IMPACTS ARE THE DIRECT EFFECT PLUS THE INDIRECT AND INDUCED EFFECTS. THIS IS $219 MILLION IN EMPLOYMENT WAGES, $1,110 MILLION IN OUTPUT OR SALES AND $30.5 MILLION IN STATE AND LOCAL TAX REVENUES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Theodore Kimball Trustee | Trustee | 1 | $0 |
Thomas Stringham Trustee | Trustee | 1 | $0 |
Rob Haertel Trustee | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,818,750 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,049,303 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,868,053 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| 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 | $4,868,053 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,338,251 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $659,442 |
| Payroll taxes | $0 |
| Fees for services: Management | $789,134 |
| Fees for services: Legal | $4,980 |
| Fees for services: Accounting | $18,181 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $56,176 |
| Advertising and promotion | $345,196 |
| Office expenses | $0 |
| Information technology | $161,391 |
| Royalties | $0 |
| Occupancy | $124,979 |
| Travel | $133,201 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $46,241 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $107,979 |
| Insurance | $17,250 |
| All other expenses | $20,890 |
| Total functional expenses | $5,185,899 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $328,962 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $296,485 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $320,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $101,052 |
| Net Land, buildings, and equipment | $53,728 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $500,000 |
| Other assets | $21,060 |
| Total assets | $1,621,287 |
| Accounts payable and accrued expenses | $167,845 |
| Grants payable | $262,500 |
| 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 | $28,396 |
| Total liabilities | $458,741 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| 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 | $1,162,546 |
| Total liabilities and net assets/fund balances | $1,621,287 |
Grants Awarded
Over the last fiscal year, Business Training & Resource Center has awarded $60,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
ALLOYED SOLUTIONS PURPOSE: PRODUCT DEVELOPMENT | $20,000 |
CERUS GEAR LLC PURPOSE: WEBSITE DEVELOPMENT | $10,000 |
SYBERJET AIRCRAFT PURPOSE: PURCHASE LASER TRACKER FOR TOLERANCE TES | $30,000 |