Form 990 for tax year 2024
Filed by COMMUNITY DEVELOPMENT FUND OF UTAH INC.
Totals
- Total revenue
- $185,906
- Total expenses
- $56,005
- Contributions and grants received
- $150,125
- Grants paid
- $0
- Program service revenue
- $3,062
- Investment income
- $32,719
- Other revenue
- $0
- Total assets, end of year
- $1,689,962
- Total liabilities, end of year
- $332,098
- Net assets or fund balances, end of year
- $1,357,864
- Program services expenses (Part IX)
- $33,269
- Management and general expenses
- $22,736
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $33,269
Program services were 59.4% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1f · All other contributions, gifts and grants
$150,125
-
2a · Program service revenue: ORIGINATION FEE
total $3,062 · related or exempt $3,062
-
3 · Investment income
total $32,719 · excluded $32,719
Functional expenses
Part IX, the statement of functional expenses.
-
7 · Other salaries and wages
total $22,811 · program services $8,452 · management and general $14,359
-
8 · Pension plan contributions
total $1,663 · program services $616 · management and general $1,047
-
9 · Other employee benefits
total $2,764 · program services $1,024 · management and general $1,740
-
10 · Payroll taxes
total $1,859 · program services $689 · management and general $1,170
-
11a · Fees: management
total $8,383 · program services $8,383
-
11c · Fees: accounting
total $2,964 · management and general $2,964
-
13 · Office expenses
total $141 · management and general $141
-
14 · Information technology
total $999 · program services $865 · management and general $134
-
17 · Travel
total $17 · management and general $17
-
19 · Conferences, conventions and meetings
total $159 · management and general $159
-
20 · Interest
total $4,085 · program services $4,085
-
22 · Depreciation, depletion and amortization
total $840 · program services $840
-
23 · Insurance
total $214 · management and general $214
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24a · Other expenses: DUES AND SUPSCRIPTIONS
total $8,378 · program services $8,254 · management and general $124
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24b · Other expenses: ALL OTHER EXPENSES
total $453 · management and general $453
-
24c · Other expenses: REPAIRS AND MAINTENANCE
total $142 · management and general $142
-
24d · Other expenses: POSTAGE AND PRINTING
total $72 · management and general $72
-
24e · All other expenses
total $61 · program services $61
Balance sheet
Part X, book values.
-
2 · Savings and temporary cash investments
beginning of year $528,803 · end of year $388,789
-
7 · Other notes and loans receivable
beginning of year $1,043,573 · end of year $1,301,173
-
9 · Prepaid expenses and deferred charges
beginning of year $4,375 · end of year $0
-
17 · Accounts payable and accrued expenses
beginning of year $213,223 · end of year $215,103
-
24 · Unsecured notes and loans payable
beginning of year $135,467 · end of year $116,995
-
27 · Net assets without donor restrictions
beginning of year $992,276 · end of year $1,102,898
-
28 · Net assets with donor restrictions
beginning of year $235,785 · end of year $254,966
Mission and programs · 2024
Mission
THE COMMUNITY DEVELOPMENT FUND OF UTAH (CDF) HELPS OUR COMMUNITY THRIVE BY EMPOWERING PEOPLE ON THEIR PATH TOWARD FINANCIAL SECURITY, HOUSING STABILITY, AND ACCESS TO AFFORDABLE HOMES.WE ACHIEVE THIS BY:1. INCREASING FINANCIAL KNOWLEDGE AND SKILLS THROUGH EDUCATION AND COACHING2. PROVIDING HOUSING-RELATED FINANCIAL ASSISTANCE AND LOAN PRODUCTS THAT ARE ACCESSIBLE TO LOWER INCOME UTAHNS3. DEVELOPING AND PRESERVING AFFORDABLE HOMES TO OWN AND RENT
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DURING THE YEAR, CDF PROVIDES 2ND MORTGAGES AS PART OF ITS HOMEFIT LOAN PROGRAM DESIGNED TO HELP LOW TO MODERATE INCOME HOUSEHOLDS FINANCE HOME PURCHASES. THIS PRODUCT DOES NOT REQUIRE MORTGAGE INSURANCE, REDUCING THE OVERALL COST OF FINANCING HOME PURCHASES.
Expenses $33,269
As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Mark GomezMARK GOMEZ
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Lilian LobosLILIAN LOBOS
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Ann C HouseANN C HOUSE
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Adelaide MaudsleyADELAIDE MAUDSLEY
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Kenneth RobertsonKENNETH ROBERTSON
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Lavine ShapiroLAVINE SHAPIRO
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
J Todd ReederJ TODD REEDER
CHIEF EXECUTIVE OFFICER
- Total calculated
- $181,361
- From this org
- $0
- From related orgs
- $153,568
- Other
- $27,793
- Hours/week
- 1 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $153,568 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $0 + $27,793 related
- Filer's total
- $0 + $181,361 related
-
Sarah BeaumontSARAH BEAUMONT
CHIEF FINANCIAL OFFICER
- Total calculated
- $143,915
- From this org
- $0
- From related orgs
- $120,000
- Other
- $23,915
- Hours/week
- 1 + 40 related
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
None.
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
The filer's explanations (Part III)
- 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.
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
No itemized grants to organizations on this return.
Related organizations on this return
Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.
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COMMUNITY DEVELOPMENT CORPORATION OF UTAH
501(C)(3) · DEVELOP SUSTAINABLE AND AFFORDABLE HOUSING · UT
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 14 May 2026
- IRS schema version
- 2024v5.5
- Source object
- 202611359349303976
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