Utah Mining Association
- Assets
- $894.9k
- Revenue
- $501.0k
- Investments
- $0.0
- Employees
- 3
- Location
- Salt Lake City, UT
- Founding
- 01/1945
- Data as of
- 12/2021
- EIN
- 87-0110800
Organization Overview
Utah Mining Association is located in Salt Lake City, UT. The organization was established in 1945. According to its NTEE Classification (J20) the organization is classified as: Employment Preparation & Procurement, under the broad grouping of Employment and related organizations. As of 12/2021, Utah Mining Association employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Utah Mining Association 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 12/2021, Utah Mining Association generated $501.0k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.7%) each year. All expenses for the organization totaled $530.6k during the year ending 12/2021. 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
TO PROMOTE, PROTECT AND ADVANCE THE MINING INDUSTRY. THE ORGANIZATION ALSO ENCOURAGES EDUCATION IN MINING AND MINERALS TO FURTHER THE UNDERSTANDING OF THE ROLE THE INDUSTRY AND ITS PRODUCTS PLAY IN PEOPLES LIVES
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE UTAH MINING ASSOCIATION COMMUNICATES WITH ITS MEMBERS IN A TIMELY ANDCOST-EFFECTIVE MANNER THROUGH THE USE OF ITS WEBSITE AND THROUGH ELECTRONICCOMMUNICATIONS. THE MONTHLY NEWSLETTER IS SENT ELECTRONICALLY AND IS AVAILABLE TOTHE MEMBERSHIP. OF EQUAL IMPORTANCE IS THE REPRESENTATION OF THE INDUSTRY IN FRONTOF THE LEGISLATURE, EDUCATING THEM AS TO THE IMPORTANCE AND IMPACTS OF VARIOUS PIECESOF LEGISLATION.
THE UTAH MINING ASSOCIATION IS AN ORGANIZATION MADE UP OF INDIVIDUALS ENGAGEDDIRECTLY AND INDIRECTLY IN THE MINING INDUSTRY. AN IMPORTANT FUNCTION IS PROVIDINGEDUCATIONAL AND NETWORKING OPPORTUNITIES FOR THESE MEMBERS. THE ANNUAL CONVENTIONAND GOLF TOURNAMENT ENABLES MEMBERS TO BECOME UPDATED AS TO LOCAL, STATE AND NATIONALISSUES AS WELL AS PROVIDING ADDITIONAL NETWORKING OPPORTUNITIES FOR THE ATTENDEES.IT ALSO PROVIDES A VENUE TO RECOGNIZE INDIVIDUALS WHO HAVE PROVIDED OUTSTANDINGSERVICES TO THE ORGANIZATION, AS WELL AS RECOGNIZE THE RECIPIENTS OF ANNUAL SAFETYAWARDS AND EARTH DAY AWARDS.
EDUCATION IS A MAJOR FOCUS OF THE UTAH MINING ASSOCIATION. AN ANNUAL GOLF TOURNAMENTIS HELD TO FUND PROJECTS THAT PROVIDE EDUCATION TO BOTH THE PUBLIC AT LARGE AND TOTEACHERS SPECIFICALLY CONCERNING THE HISTORY AND BENEFITS OF THE MINING INDUSTRY. AMINING AMBASSADOR PROGRAM HAS BEEN ESTABLISHED, WITH EMPLOYEES OF MEMBER COMPANIESATTENDING TRAINING SESSIONS AND THEN PRESENTING EDUCATIONAL PROGRAMS TO LOCAL FOURTHGRADE STUDENTS. ADDITIONALLY, THE ORGANIZATIONSS WEBSITE HAS INFORMATION FORTEACHERS ABOUT MINING EDUCATION CURRICULUM AND A LIST OF RESOURCES AVAILABLE THROUGHTHE INTERNET.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brian Somers President | Officer | 50 | $131,300 |
Denise Dragoo 2nd Vice Chair | OfficerTrustee | 0.7 | $0 |
Jonathan Campbell Vice Chair | OfficerTrustee | 0.7 | $0 |
Matt Tobey Chair | OfficerTrustee | 0.7 | $0 |
Marc Maglione 1st Vice Chair | OfficerTrustee | 0.7 | $0 |
John Davis Board Member | Trustee | 0.7 | $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 | $487,725 |
| Investment income | $13,321 |
| 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 | $501,046 |
| 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. | $131,300 |
| Compensation of current officers, directors, key employees. | $131,300 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $126,162 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $46,768 |
| Payroll taxes | $20,237 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,730 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,195 |
| Advertising and promotion | $1,284 |
| Office expenses | $11,136 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $24,402 |
| Travel | $649 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $41,424 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,753 |
| Insurance | $689 |
| All other expenses | $46,069 |
| Total functional expenses | $530,552 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $52,151 |
| Savings and temporary cash investments | $63,603 |
| 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 | $1,560 |
| Net Land, buildings, and equipment | $358 |
| Investments—publicly traded securities | $676,400 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $100,802 |
| Total assets | $894,874 |
| Accounts payable and accrued expenses | $17,974 |
| 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 | $17,974 |
| Net assets without donor restrictions | $876,900 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $894,874 |
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