Wasatch Community Funding Inc
- Assets
- $0.0
- Revenue
- $17.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Ogden, UT
- Founding
- Data as of
- 06/2017
- EIN
- 47-2779680
Organization Overview
Wasatch Community Funding Inc is located in Ogden, UT. Wasatch Community Funding Inc 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 06/2017, Wasatch Community Funding Inc generated $17.8k in total revenue. All expenses for the organization totaled $114.9k during the year ending 06/2017. While expenses have increased by 212.0% per year over the past 2 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
2017
Describe the Organization's Mission:
Part 3 - Line 1
FORMED TO ASSIST IN THE REINVESTMENT OF THE GREATER OGDEN AREA. THE ORC OFFERS LOANS TO BORROWERS WITH SOLID BUSINESS MODELS BUT THAT ARE NOT YET ABLE TO SECURE TRADITIONAL BANK FINANCING, INCLUDING: MICROENTERPRISES, PRE-DEVELOPMENT/BRIDGE PROPERTY ACQAUISITION, SMALL BUSINESS STARTUP AND EXPANSIONS, AND HOUSING/MIXED USE DEVELOPMENTS. THESE LOAN SERVICES ARE COMPLIMENTED WITH BUSINESS COUNSELING THROUGH THE OGDEN CITY BUSINESS INFORMATION CENTER (BIC). ORC WAS PROVIDED WITH CONTRIBUTED SERVICES FROM OGDEN CITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WASATCH COMMUNITY FUNDING EVALUATES SEVERAL NEW LOAN OPPORTUNITIES WITH SMALL BUSINESSES IN NEED OF CAPITAL THAT DO NOT QUALIFY FOR TRADITIONAL BANK FINANCING IN THE GREATER OGDEN AREA. SERVICING EXISTING LOAN PORTFOLIO
TO ASSIST IN THE REINVESTMENT OF THE GREATER OGDEN AREA. THE ORC OFFERS LOANS TO BORROWERS WITH SOLID BUSINESS MODELS BUT THAT ARE NOT YET ABLE TO SECURE TRADITIONAL BANK FINANCING.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tom Christopulos Trustee | Trustee | $0 | |
John E Lindquist Vice Chair | OfficerTrustee | $0 | |
Edward Kleyn Secretary | OfficerTrustee | $0 | |
Slade Opheikens Trustee | Trustee | $0 | |
Rick Fairbanks Trustee | Trustee | $0 | |
Rich Brewer Trustee | Trustee | $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 | $17,764 |
| Investment income | $42 |
| 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 | $17,806 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $87,766 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $550 |
| 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 | $0 |
| Travel | $0 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $114,851 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $0 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Unrestricted restricted net Assets | $0 |
| Temporarily restricted net Assets | $0 |
| Permanently restricted net Assets or current funds | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total net assets or fund balances | $0 |