2024-05-15T12:50:01-05:00 2023-06-30 202253063 TANNER LLC 36 S STATE STREET SUITE 600 SALT LAKE CITY UT 84111 990 2022-07-01 870476889 COMMUNITY DEVELOPMENT CORPORATION OF UTAH COMM 8019947222 501 EAST 1700 SOUTH SALT LAKE CITY UT 84105 TODD REEDER CHIEF EXECUTIVE OFFICER 8019947222 2024-05-13 1 TODD REEDER XXX-XX-XXXX 0 MARC A METCALF P00170461 8015327444 2024-05-13 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z TODD REEDER 501 EAST 1700 SOUTH SALT LAKE CITY UT 84105 14855317 0 X WWW.CDCUTAH.ORG X 1990 UT 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. 9 9 23 0 0 0 1730750 13766505 518912 283766 4791 8739 483528 434882 2737981 14493892 1089433 11944866 0 0 837741 1509646 48950 55250 68819 708407 1118802 2684531 14628564 53450 -134672 10004556 21059253 7608416 18767785 2396140 2291468 X 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. 0 0 510347 250014 15900 HOMEOWNER REHABILITATION AND OWNERSHIP 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. 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. 422462 367599 2800 DOWN PAYMENT ASSISTANCE GRANTED $367,599 IN DOWN PAYMENT ASSISTANCE GRANTS TO 17 LOW- AND MODERATE-INCOME FAMILIES TO OFFSET CLOSING COSTS AND ENABLE FAMILIES TO SUCCESSFULLY PURCHASE AN AFFORDABLE HOME. 12253892 11327253 MORTGAGE ASSISTANCE GRANTED $11,327,253 IN MORTGAGE ASSISTANCE GRANTS TO 637 LOW- TO MODERATE-INCOME 637 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. 321365 5160 HOMEBUYER EDUCATION AND FORECLOSURE MITIGATION COUNSELING PROVIDED FINANCIAL EDUCATION AND COUNSELING SERVICES TO 700 LOW- TO MODERATE-INCOME HOUSEHOLDS (2,399 INDIVIDUALS) TO ENABLE THEM TO BECOME AND REMAIN SUCCESSFUL HOMEOWNERS. PROVIDED FORECLOSURE PREVENTION AND LOAN MITIGATION TO FAMILIES TO PREVENT FORECLOSURE ON THEIR HOMES DURING TIMES OF CRISIS. THESE SERVICES ARE PROVIDED AT NO COST TO THE PROGRAM PARTICIPANTS. 295000 258147 AFFORDABLE HOUSING - PRESERVES EXISTING AFFORDABLE HOUSING BY ACQUIRING AND REHABILITATING MULTI-FAMILY PROPERTIES THAT ARE RENTED TO LOW-TO-MODERATE INCOME RESIDENTS. 418810 REAL ESTATE DEVELOPMENT 1035175 263307 14221876 1 1 0 0 0 0 0 0 1 0 1 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 0 0 0 0 0 0 1 1 1 0 0 0 1 13 0 1 23 1 0 0 0 0 0 0 0 0 0 0 0 0 X 9 9 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 UT X X SARAH BEAUMONT 8019947222 501 EAST 1700 SOUTH SALT LAKE CITY UT 84105 SCOTT ROBERTS VICE PRESIDENT 1.00 X X 0 0 0 RYAN PEEL PRESIDENT & SECRETARY 1.00 X X 0 0 0 LILY GRAY BOARD MEMBER 1.00 X 0 0 0 KISTY MORRIS BOARD MEMBER 1.00 X 0 0 0 ZACH TAYLOR BOARD MEMBER 1.00 X 0 0 0 KENNETH ROBERTSON BOARD MEMBER 1.00 X 0 0 0 VICKY FUENTES BOARD MEMBER 1.00 X 0 0 0 VIRIDIANA NAJERA BOARD MEMBER 1.00 X 0 0 0 BRYCE WILLIAMS BOARD MEMBER 1.00 X 0 0 0 LORIE DUDLEY CHIEF FINANCIAL OFFICER 40.00 X 104864 0 8971 J TODD REEDER CHIEF EXECUTIVE OFFICER 40.00 X 111210 0 27320 MICHAEL AKERLOW CHIEF EXECUTIVE OFFICER 40.00 X 140715 0 17875 356789 0 54166 3 1 1 0 0 13131010 635495 13766505 PROJECT FEES - COUNTY HOMES 531390 218106 218106 PROJECT HOMELESS CONNECT 531390 54500 54500 SALES COMMISSIONS 531390 11160 11160 283766 8739 8739 295279 21232 274047 274047 274047 482000 340193 141807 141807 RECAPTURED DONOR DPA FEES 531390 6769 6769 HBE FEES 531390 5160 5160 MISCELLANEOUS 531390 4299 4299 2800 2800 19028 14493892 718648 0 8739 11944866 11944866 410954 351830 54445 4679 828886 709634 109814 9438 83537 71519 11067 951 144913 124064 19199 1650 96606 82707 12799 1100 118534 55429 38028 25077 33504 15667 10749 7088 37404 17491 12000 7913 10781 5439 340 5002 17336 10224 6632 480 94947 86314 8611 22 2445 1864 581 2491 2491 218322 197215 21107 78945 73342 4558 1045 44110 37032 6329 749 ALL OTHER EXPENSES 260976 253585 6345 1046 REPAIRS AND MAINTENANCE 65447 58965 5560 922 UTILITIES 41853 39550 2080 223 FURNITURE & EQUIPMENT 27539 26324 1215 0 64168 56324 6410 1434 14628564 14221876 337869 68819 929544 625276 447138 6654623 494417 1337200 91321 101535 3259336 6122838 44820 165654 5052241 592844 4523444 4459397 214536 221700 1371030 10004556 21059253 1253504 1065429 66998 6333696 960000 4972029 5327914 6396631 7608416 18767785 X 1961553 1697253 434587 594215 2396140 2291468 10004556 21059253 -134672 30000 0 X 0 1 X 1 1 1 X 1437053 1281451 1208810 1730750 13766505 19424569 1437053 1281451 1208810 1730750 13766505 19424569 204822 19219747 214 9263 33972 7146 8739 59334 19483903 23571663 0.98640 0.85390 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 2499700 2499700 2036214 455647 1580567 328582 328582 135821 116427 19394 51924 20770 31154 4459397 X PART X, LINE 2: THE ORGANIZATION AND THE FUND OF UTAH BELIEVE THAT THEY HAVE APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN AFFECTING THEIR ANNUAL FILING REQUIREMENTS, AND AS SUCH, DO NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. THE ORGANIZATIONS WOULD RECOGNIZE FUTURE ACCRUED INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS AND LIABILITIES IN INCOME TAX EXPENSE IF SUCH INTEREST AND PENALTIES ARE INCURRED. 1 DOWN PAYMENT ASSISTANCE 17 367599 MORTGAGE ASSISTANCE 637 11327253 HOMEFIT RENOVATION 7 135042 PART I, LINE 2: THE DOWN PAYMENT ASSISTANCE LOANS/GRANTS ADMINISTERED BY THE ORGANIZATION ARE FOR HOMES LOCATED WITHIN SPECIFIC GEOGRAPHICAL BOUNDARIES IN THE STATE OF UTAH. THE FUNDS ARE PROVIDED TO AN ESCROW OFFICER AT THE TIME A HOME IS PURCHASED AND ARE USED TO PAY CLOSING COSTS AND REDUCE THE AMOUNT OF FUNDS REQUIRED TO BE BORROWED TO PURCHASE THE PROPERTY. THESE LOANS MUST BE SECURED BY A TRUST DEED ON THE PURCHASED PROPERTY, NAMING THE MUNICIPALITY PROVIDING THE FUNDS AS THE BENEFICIARY. THE MORTGAGE ASSISTANCE PROGRAM PROVIDES TEMPORARY MORTGAGE ASSISTANCE TO HOUSEHOLDS IMPACTED BY THE COVID-19 PANDEMIC OR THOSE WHO ARE EXPERIENCING OTHER FINANCIAL HARDSHIPS. X X 0 0 0 0 0 0 0 0 0 MICHAEL AKERLOW CHIEF EXECUTIVE OFFICER 140715 0 0 0 0 0 0 0 17875 0 158590 0 0 0 PART I, LINE 3 COMPENSATION OF THE CEO AND CHIEF FINANCIAL OFFICER IS ESTABLISHED BY THE BOARD OF DIRECTORS. PERIODICALLY, THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS REVIEWS COMPENSATION STUDIES, REVIEWS COMPENSATION PAID BY OTHER NONPROFIT AND FOR PROFIT COMPANIES AND CONSIDERS OTHER SOURCES OF INFORMATION DEEMED RELEVANT. THE COMMITTEE THEN MAKES A RECOMMENDATION TO THE BOARD OF DIRECTORS. THE MEMBERS OF THE BOARD OF DIRECTORS WHO ARE FREE OF CONFLICTS MAKE THE FINAL DECISION. MORGAN STANLEY BANK ENTITY IS A SUBSTANTIAL CONTRIBUTOR LINE OF CREDIT TO FUND ACQUISITION AND REHABILITATION OF EXISTING HOMES. X 10000000 4972029 0 1 1 4972029 FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE SHALL BE ELECTED BY THE BOARD OF DIRECTORS. THERE SHALL BE NO MORE THAN SIX DIRECTORS ON THE EXECUTIVE COMMITTEE, FOUR OF WHOM SHALL BE THE OFFICERS OF THE CORPORATION AND THE IMMEDIATE PAST PRESIDENT OF THE BOARD. THE PURPOSE OF THE EXECUTIVE COMMITTEE IS TO CONDUCT THE REGULAR BUSINESS OF THE BOARD AND PROVIDE OVERSIGHT AND DIRECTION FOR THE CEO. FORM 990, PART VI, SECTION B, LINE 11B PRIOR TO THE SUBMISSION OF FORM 990, THE BOARD OF DIRECTORS ARE PROVIDED WITH A COPY OF FORM 990, COMPLETE WITH ATTACHMENTS, FOR REVIEW. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS PERIODICALLY REVIEWED WITH THE DIRECTORS AND EMPLOYEES. ALL POTENTIAL CONFLICTS OF INTEREST MUST BE ADDRESSED BY THE BOARD OF DIRECTORS. ALL EMPLOYEES AND BOARD MEMBERS ARE COVERED BY THE POLICY. ANY RESTRICTIONS IMPOSED AS A RESULT OF CONFLICTS WILL BE DETERMINED BY THE CEO. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION OF THE CEO AND CHIEF FINANCIAL OFFICER IS ESTABLISHED BY THE BOARD OF DIRECTORS. PERIODICALLY, THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS REVIEWS COMPENSATION STUDIES, REVIEWS COMPENSATION PAID BY OTHER NONPROFIT AND FOR PROFIT COMPANIES AND CONSIDERS OTHER SOURCES OF INFORMATION DEEMED RELEVANT. THE COMMITTEE THEN MAKES A RECOMMENDATION TO THE BOARD OF DIRECTORS. THE MEMBERS OF THE BOARD OF DIRECTORS WHO ARE FREE OF CONFLICTS MAKE THE FINAL DECISION. THIS PROCESS WAS USED IN 2015. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS ORGANIZATIONAL DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. CDC HOMES LLC 501 EAST 1700 SOUTH SALT LAKE CITY UT 84105 204665564 REAL ESTATE BROKERAGE UT 0 0 COMMUNITY DEVELOPMENT CORPORATION OF UTAH COMMUNITY DEVELOPMENT FUND OF UTAH 501 EAST 1700 SOUTH SALT LAKE CITY UT 84105 273251347 MORTGAGE LOANS TO LMI HOUSEHOLDS UT 501(C)(3) LINE 7 COMMUNITY DEVELOPMENT CORP OF UTAH 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 COMMUNITY DEVELOPMENT FUND OF UTAH O 32396 COST