Community Development Corporation Of Utah
- Assets
- $13.5m
- Revenue
- $2.7m
- Investments
- $0.0
- Employees
- 15
- Location
- Salt Lake City, UT
- Founding
- 04/1991
- Data as of
- 06/2021
- EIN
- 87-0476889
Organization Overview
Community Development Corporation Of Utah is located in Salt Lake City, UT. The organization was established in 1991. 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 06/2021, Community Development Corporation Of Utah employed 15 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Community Development Corporation Of 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 06/2021, Community Development Corporation Of Utah generated $2.7m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 9.1% each year. All expenses for the organization totaled $2.3m during the year ending 06/2021. While expenses have increased by 5.0% per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
COMMUNITY DEVELOPMENT CORPORATION OF UTAH ASSISTS ASPIRING HOMEOWNERS ALONG THE PATH TO HOMEOWNERSHIP, DEVELOPS SUSTAINABLE AND AFFORDABLE HOUSING, REVITALIZES AND STABILIZES NEIGHBORHOODS AND COMMUNITIES, AND PROMOTES SELF-SUFFICIENCY THROUGH HOME OWNERSHIP.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NEIGHBORHOOD HOMEOWNERSHIP PROGRAM - CONSTRUCTED AND/OR REHABILITATED HOMES WHICH ARE SOLD TO LOW TO MODERATE INCOME FAMILIES, WHICH NOT ONLY PROVIDES AN AFFORDABLE HOME TO THE OWNERS, BUT IMPROVES THE COMMUNITY BY TRANSFORMING BLIGHTED HOMES INTO SAFE AND STABLE HOMES. THIS PROGRAM ALSO DELIVERS OWNER OCCUPIED HOME LEAD BASED PAINT REMEDIATION, ENERGY EFFICIENCY, SAFETY, AND HEALTH IMPROVEMENTS, AND EMERGENCY REPAIRS TO QUALIFYING HOMEOWNERS. CDCU COMPLETED HOMEOWNER REPAIR PROJECTS, IMPROVING THE SAFETY AND ACCESSIBILITY OF THESE HOME FOR THEIR OWNERS.
DOWN PAYMENT ASSISTANCE - GRANTED DOWN PAYMENT ASSISTANCE LOANS/GRANTS TO 48 LOW AND MODERATE INCOME FAMILIES TO OFFSET CLOSING COSTS, AND ENABLE THESE FAMILIES TO SUCCESSFULLY PURCHASE AN AFFORDABLE HOME.
HOMEBUYER EDUCATION & FORECLOSURE MITIGATION COUNSELING - PROVIDED FINANCIAL EDUCATION AND COUNSELING SERVICES TO 212 LOW TO MODERATE-INCOME HOUSEHOLDS (636 INDIVIDUALS) IN ORDER TO ENABLE THEM TO BECOME AND REMAIN SUCCESSFUL HOMEOWNERS. PROVIDED FORECLOSURE PREVENTION AND LOAN MITIGATION ADVISING TO FAMILIES IN ORDER TO HELP THEM SAVE THEIR HOMES DURING TIMES OF CRISIS. THESE SERVICES ARE PROVIDED AT EITHER NO OR MINIMAL COST TO THE CLIENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Akerlow Chief Executive Officer | Officer | 40 | $134,763 |
Greg Lambert Chief Finanical Officer | Officer | 40 | $100,632 |
Scott Roberts Vice President | OfficerTrustee | 1 | $0 |
Ann C House President | OfficerTrustee | 1 | $0 |
Ryan Peel Secretary | OfficerTrustee | 1 | $0 |
Elliott Jenkins Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Kobalt Contruction Inc Construction | 6/29/21 | $2,102,373 |
Pyramid Remodeling & Maintenance Construction | 6/29/21 | $444,711 |
Jerry Riddle Construction | 6/29/21 | $230,225 |
Keith Barton Construction Construction | 6/29/21 | $345,500 |
Maddox Construction Construction | 6/29/21 | $157,441 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $889,575 |
| All other contributions, gifts, grants, and similar amounts not included above | $319,235 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,208,810 |
| Total Program Service Revenue | $647,509 |
| Investment income | $33,979 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $289,330 |
| Net Gain/Loss on Asset Sales | $19,758 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $307,217 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,699,111 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $842,529 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $247,839 |
| Compensation of current officers, directors, key employees. | $156,717 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $458,435 |
| Pension plan accruals and contributions | $44,375 |
| Other employee benefits | $86,783 |
| Payroll taxes | $33,361 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,457 |
| Fees for services: Accounting | $25,276 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $9,588 |
| Fees for services: Other | $124,453 |
| Advertising and promotion | $4,661 |
| Office expenses | $9,827 |
| Information technology | $20,448 |
| Royalties | $0 |
| Occupancy | $43,993 |
| Travel | $1,800 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,085 |
| Interest | $121,687 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $61,831 |
| Insurance | $37,268 |
| All other expenses | $17,507 |
| Total functional expenses | $2,301,892 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,444,169 |
| Savings and temporary cash investments | $967,198 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $955,428 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $32,889 |
| Inventories for sale or use | $7,169,134 |
| Prepaid expenses and deferred charges | $100,057 |
| Net Land, buildings, and equipment | $2,618,491 |
| Investments—publicly traded securities | $214,666 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $13,502,032 |
| Accounts payable and accrued expenses | $1,798,056 |
| Grants payable | $0 |
| Deferred revenue | $151,750 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $2,766,411 |
| Secured mortgages and notes payable | $6,443,125 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $11,159,342 |
| Net assets without donor restrictions | $1,884,617 |
| Net assets with donor restrictions | $458,073 |
| 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 | $13,502,032 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Community Development Corporation Of Utah has recieved totaling $114,368.
| Awarding Organization | Amount |
|---|---|
The Housing Partnership Network Inc Boston, MA PURPOSE: HOUSING STABILIZATION (FORECLOSURE & EVICTION) | $56,395 |
Sorenson Legacy Foundation Midvale, UT PURPOSE: GENERAL CHARITABLE PURPOSES | $50,000 |
The Housing Partnership Network Inc Boston, MA PURPOSE: HOUSING STABILIZATION (RENTER STABILIZATION/EVICTION PREVENTION & HOMEOWNER ASSISTANCE/FORECLOSURE PREVENTION) | $7,900 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $73 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Brothers Redevelopment Inc Edgewater, CO | $28,566,111 | $21,890,998 |
South Of Market Mercy Housing Denver, CO | $1,397,293 | $161,294 |
Northwest Real Estate Capital Corporation Boise, ID | $42,438,639 | $10,028,848 |
Western Region Nonprofit Housing Corporation Salt Lake City, UT | $76,676,954 | $12,236,656 |
Habitat For Humanity Tucson Inc Tucson, AZ | $32,170,830 | $10,758,994 |
Habitat For Humanity International Inc Glenwood Springs, CO | $10,815,473 | $6,555,105 |
Utah Nonprofit Housing Corporation Salt Lake City, UT | $66,026,062 | $36,661,110 |
Mercy Housing South East Denver, CO | $32,176,710 | $9,687,514 |
Save The Family Foundation Of Arizona Mesa, AZ | $6,981,907 | $8,677,083 |
Pikes Peak Habitat For Humanity Inc Colorado Springs, CO | $13,774,284 | $6,271,945 |
Habitat For Humanity International Inc Fort Collins, CO | $6,791,081 | $6,218,115 |
Mercy Housing Calwest Denver, CO | -$18,791,913 | $14,657,764 |