Community Development Corporation Of Utah
- Assets
- $10.0m
- Revenue
- $2.7m
- Investments
- $0.0
- Employees
- 23
- Location
- Salt Lake City, UT
- Founding
- 04/1991
- Data as of
- 06/2022
- 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 06/2022, Community Development Corporation Of Utah employed 23 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 06/2022, Community Development Corporation Of Utah generated $2.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.0% each year. All expenses for the organization totaled $2.7m during the year ending 06/2022. While expenses have increased by 6.6% per year over the past 7 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
2022
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 OR REHABILITATED HOMES WHICH ARE SOLD TO LOW-TO-MODERATE INCOME FAMILIES, WHICH PROVIDES AN AFFORDABLE HOME AND IMPROVES THE COMMUNITY BY TRANSFORMING BLIGHTED HOMES INTO SAFE AND STABLE HOMES. SOLD FOUR TOWNHOMES IN SALT LAKE CITY TO LOW-TO MODERATE-INCOME FAMILIES AND REHABILITATED AND SOLD 17 HOMES IN SALT LAKE COUNTY. CDCU ALSO PARTNERS WITH SALT LAKE COUNTY IN THE GREEN AND HEALTHY HOMES INITIATIVE WHICH PROVIDES GRANTS AND LOANS TO LOW-INCOME FAMILIES FOR CRITICAL HOME REPAIRS.
DOWN PAYMENT ASSISTANCE GRANTED $622,425 IN DOWN PAYMENT ASSISTANCE GRANTS TO 32 LOW- AND MODERATE-INCOME FAMILIES (131 INDIVIDUALS) TO OFFSET CLOSING COSTS AND ENABLE FAMILIES TO SUCCESSFULLY PURCHASE AN AFFORDABLE HOME.
MORTGAGE ASSISTANCE GRANTED $262,427 IN MORTGAGE ASSISTANCE GRANTS TO 66 LOW- TO MODERATE-INCOME FAMILIES, (172 INDIVIDUALS). THE MORTGAGE ASSISTANCE PROGRAM PROVIDES TEMPORARY MORTGAGE ASSISTANCE TO HOUSEHOLDS IMPACTED BY THE COVID-19 PANDEMIC OR THOSE WHO ARE EXPERIENCING OTHER FINANCIAL HARDSHIPS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ann C House President | OfficerTrustee | 1 | $0 |
Scott Roberts Vice President | OfficerTrustee | 1 | $0 |
Ryan Peel Secretary | OfficerTrustee | 1 | $0 |
Lily Gray Board Member | Trustee | 1 | $0 |
Elliott Jenkins Board Member | Trustee | 1 | $0 |
Gena Jones Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Keith Barton Construction Construction | 6/29/22 | $349,885 |
Alpine Custom Contracting Llc Construction | 6/29/22 | $273,634 |
Pyramid Remodeling & Maintenance Construction | 6/29/22 | $268,784 |
Method Studio Architecture | 6/29/22 | $242,000 |
Jerry Riddle Construction | 6/29/22 | $173,840 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,170,015 |
| All other contributions, gifts, grants, and similar amounts not included above | $560,735 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,730,750 |
| Total Program Service Revenue | $518,912 |
| Investment income | $7,017 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $275,903 |
| Net Gain/Loss on Asset Sales | -$2,226 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $183,769 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,737,981 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $1,089,433 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $422,957 |
| Compensation of current officers, directors, key employees. | $102,332 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $270,428 |
| Pension plan accruals and contributions | $51,706 |
| Other employee benefits | $86,855 |
| Payroll taxes | $54,745 |
| Fees for services: Management | $120,450 |
| Fees for services: Legal | $492 |
| Fees for services: Accounting | $50,576 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $8,703 |
| Office expenses | $10,568 |
| Information technology | $25,239 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $2,791 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,257 |
| Interest | $178,686 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $70,714 |
| Insurance | $40,910 |
| All other expenses | $14,736 |
| Total functional expenses | $2,684,531 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $929,544 |
| Savings and temporary cash investments | $447,138 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $494,417 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $91,321 |
| Inventories for sale or use | $3,259,336 |
| Prepaid expenses and deferred charges | $44,820 |
| Net Land, buildings, and equipment | $4,523,444 |
| Investments—publicly traded securities | $214,536 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $10,004,556 |
| Accounts payable and accrued expenses | $1,253,504 |
| Grants payable | $0 |
| Deferred revenue | $66,998 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $960,000 |
| Secured mortgages and notes payable | $5,327,914 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $7,608,416 |
| Net assets without donor restrictions | $1,961,553 |
| Net assets with donor restrictions | $434,587 |
| 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 | $10,004,556 |