Form 990 for tax year 2024
Filed by UTAH MICROENTERPRISE LOAN FUND.
Totals
- Total revenue
- $1,742,892
- Total expenses
- $858,590
- Contributions and grants received
- $714,177
- Grants paid
- $0
- Program service revenue
- $176,750
- Investment income
- $846,041
- Other revenue
- $5,924
- Total assets, end of year
- $2,350,796
- Total liabilities, end of year
- $1,343,133
- Net assets or fund balances, end of year
- $1,007,663
- Program services expenses (Part IX)
- $399,538
- Management and general expenses
- $413,615
- Fundraising expenses
- $45,437
- Program service expenses (Part III)
- $399,538
Program services were 46.5% 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.
-
1e · Government grants (contributions)
$103,288
-
1f · All other contributions, gifts and grants
$610,889
-
2a · Program service revenue: LOAN FEES
total $53,486 · related or exempt $53,486
-
2b · Program service revenue: LOAN INTEREST
total $123,264 · related or exempt $123,264
-
3 · Investment income
total $6,902 · excluded $6,902
-
4 · Income from investment of tax-exempt bond proceeds
total $0
-
5 · Royalties
total $0
-
6a · Gross rents
real property $5,924
-
6c · Rental income or loss
real property $5,924
-
6d · Net rental income or loss
total $5,924 · excluded $5,924
-
7a · Gross sales of assets other than inventory
other assets $839,139
-
7c · Gain or loss
other assets $839,139
-
7d · Net gain or loss
total $839,139 · excluded $839,139
-
8c · Net income from fundraising events
total $0
-
9c · Net income from gaming
total $0
-
10c · Net income from sales of inventory
total $0
-
11e · Other revenue, total
$0
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $0
-
2 · Grants to domestic individuals
total $0
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $0
-
5 · Compensation of officers, directors and key employees
total $165,481 · program services $71,740 · management and general $80,159 · fundraising $13,582
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $323,848 · program services $140,395 · management and general $156,872 · fundraising $26,581
-
8 · Pension plan contributions
total $9,366 · program services $4,060 · management and general $4,537 · fundraising $769
-
9 · Other employee benefits
total $19,526 · program services $8,465 · management and general $9,458 · fundraising $1,603
-
10 · Payroll taxes
total $35,365 · program services $15,332 · management and general $17,131 · fundraising $2,902
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $0
-
11c · Fees: accounting
total $40,775 · management and general $40,775
-
11d · Fees: lobbying
total $0
-
11e · Fees: professional fundraising services
total $0
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $0
-
12 · Advertising and promotion
total $12,986 · program services $12,986
-
13 · Office expenses
total $59,682 · management and general $59,682
-
14 · Information technology
total $0
-
15 · Royalties
total $0
-
16 · Occupancy
total $13,493 · management and general $13,493
-
17 · Travel
total $0
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $15,510 · management and general $15,510
-
20 · Interest
total $30,449 · program services $30,449
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $3,851 · management and general $3,851
-
23 · Insurance
total $3,814 · management and general $3,814
-
24a · Other expenses: LOAN LOSSES
total $114,633 · program services $114,633
-
24b · Other expenses: Dues & Subscriptions
total $8,333 · management and general $8,333
-
24c · Other expenses: BORROWER SUPPORT, LOAN
total $1,478 · program services $1,478
-
24e · All other expenses
total $0
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $370,185 · end of year $919,905
-
2 · Savings and temporary cash investments
beginning of year $676,549 · end of year $935,215
-
3 · Pledges and grants receivable
beginning of year $17,800 · end of year $0
-
4 · Accounts receivable
beginning of year $1,410 · end of year $298
-
5 · Loans and receivables from officers and key people
end of year $0
-
6 · Loans and receivables from disqualified persons
end of year $0
-
7 · Other notes and loans receivable
end of year $0
-
8 · Inventories for sale or use
end of year $0
-
9 · Prepaid expenses and deferred charges
end of year $0
-
10c · Land, buildings and equipment, net
beginning of year $182,150 · end of year $0
-
11 · Investments: publicly traded securities
end of year $0
-
12 · Investments: other securities
end of year $0
-
13 · Investments: program-related
beginning of year $1,435,777 · end of year $483,661
-
14 · Intangible assets
end of year $0
-
15 · Other assets
beginning of year $13,822 · end of year $11,717
-
17 · Accounts payable and accrued expenses
beginning of year $137,787 · end of year $148,112
-
19 · Deferred revenue
beginning of year $81,291 · end of year $58,356
-
23 · Secured mortgages and notes payable
beginning of year $2,355,254 · end of year $1,136,665
-
27 · Net assets without donor restrictions
beginning of year $123,361 · end of year $677,663
-
28 · Net assets with donor restrictions
end of year $330,000
Mission and programs · 2024
Mission
PROVIDE FUNDING AND MANAGEMENT ASSISTANCE TO NEW AND EXISTING BUSINESSES THAT ARE NOT ABLE TO ACCESS TRADITIONAL SOURCES OF FUNDING; INCLUDING THOSE WHO ARE MEMBERS OF THE LOW/MODERATE INCOME COMMUNITY.
-
LOANS MADE UP TO $50,000 TO FINANCIALLY AND/OR SOCIALLY DISADVANTAGED INDIVIDUALS WHO WILL START OR EXPAND A SMALL BUSINESS AND HAVE INSUFFICIENT RESOURCES TO DO SO. DURING THE FISCAL YEAR, 20 LOANS WERE MADE TOTALLING $215,233.45.
Expenses $399,538 · Revenue $176,750
As filed on the 2024 return.
Listed in Part VII
-
Doug KeefeDOUG KEEFE
Executive Dir.
- Total calculated
- $161,477
- From this org
- $134,331
- From related orgs
- $0
- Other
- $27,146
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $134,331
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported
- Nontaxable benefits
- $27,146
- Filer's total
- $161,477
-
Mike WeaverMIKE WEAVER
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Jackie HobsonJACKIE HOBSON
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Ryan JonesRYAN JONES
CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Steve HannaySTEVE HANNAY
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Eric MarxERIC MARX
Treasurer
- Total calculated
- $0
- Hours/week
- 1
-
Sam RobertsSAM ROBERTS
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Matt LongmanMATT LONGMAN
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
John TaudteJOHN TAUDTE
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Todd JonesTODD JONES
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Sidni ShorterSIDNI SHORTER
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Jim HerrinJIM HERRIN
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Jim WelchJIM WELCH
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Robert ChristensenROBERT CHRISTENSEN
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Zachary SmithZACHARY SMITH
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Eric BlanchardERIC BLANCHARD
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Seth WheatleySETH WHEATLEY
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
David YoungDAVID YOUNG
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Jennifer WeldingJENNIFER WELDING
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Bala TrioloBALA TRIOLO
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Matthew RenlundMATTHEW RENLUND
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Rachel HadleyRACHEL HADLEY
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Justin CrowleyJUSTIN CROWLEY
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Caryl ErikssonCARYL ERIKSSON
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Justin De JongJUSTIN DE JONG
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Alan UrieALAN URIE
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Joel BeusJOEL BEUS
Secretary
- Total calculated
- $0
- Hours/week
- 1
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
- 3 · Compensation committee
- 3 · Form 990 of other organizations
- 3 · Written employment contract
- 3 · Compensation survey or study
- 3 · Approval by the board or compensation committee
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
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.
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 2 June 2026
- IRS schema version
- 2024v5.2
- Source object
- 202621539349301427
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