Totals
- Total revenue
- $1,540,347
- Total expenses
- $1,479,831
- Contributions and grants received
- $1,459,068
- Grants paid
- $8,614
- Program service revenue
- $81,262
- Investment income
- $17
- Other revenue
- $0
- Total assets, end of year
- $1,406,762
- Total liabilities, end of year
- $72,357
- Net assets or fund balances, end of year
- $1,334,405
- Program services expenses (Part IX)
- $1,239,154
- Management and general expenses
- $120,296
- Fundraising expenses
- $120,381
- Program service expenses (Part III)
- $1,239,154
Program services were 83.7% 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.
-
1c · Fundraising events
$31,110
-
1e · Government grants (contributions)
$299,913
-
1f · All other contributions, gifts and grants
$1,128,045
-
1g · Noncash contributions included above
$87,070
-
2a · Program service revenue: SEMINARS & WORKSHOPS
total $71,617 · related or exempt $71,617
-
2b · Program service revenue: MICRO LOAN INTEREST AND FEES
total $9,645 · related or exempt $9,645
-
3 · Investment income
total $17 · excluded $17
-
8a · Fundraising events: gross income
$3,627
-
8a · Fundraising events: contributions included on line 1c
$31,110
-
8b · Fundraising events: direct expenses
$3,627
Functional expenses
Part IX, the statement of functional expenses.
-
2 · Grants to domestic individuals
total $8,614 · program services $8,614
-
5 · Compensation of officers, directors and key employees
total $148,292 · program services $111,219 · management and general $22,244 · fundraising $14,829
-
7 · Other salaries and wages
total $517,794 · program services $444,563 · management and general $36,505 · fundraising $36,726
-
8 · Pension plan contributions
total $12,149 · program services $10,137 · management and general $1,072 · fundraising $940
-
9 · Other employee benefits
total $39,838 · program services $33,242 · management and general $3,513 · fundraising $3,083
-
10 · Payroll taxes
total $54,255 · program services $45,271 · management and general $4,785 · fundraising $4,199
-
11c · Fees: accounting
total $7,755 · management and general $7,755
-
11e · Fees: professional fundraising services
total $50,450 · fundraising $50,450
-
11g · Fees: other
total $229,237 · program services $210,888 · management and general $18,349
-
12 · Advertising and promotion
total $49,350 · program services $49,350
-
13 · Office expenses
total $24,000 · program services $20,026 · management and general $2,117 · fundraising $1,857
-
14 · Information technology
total $46,611 · program services $46,611
-
16 · Occupancy
total $164,848 · program services $150,798 · management and general $7,483 · fundraising $6,567
-
17 · Travel
total $26,352 · program services $26,352
-
19 · Conferences, conventions and meetings
total $31,326 · program services $31,326
-
22 · Depreciation, depletion and amortization
total $22,357 · program services $18,655 · management and general $1,972 · fundraising $1,730
-
23 · Insurance
total $3,617 · management and general $3,617
-
24a · Other expenses: STAFF DEVELOPMENT
total $22,836 · program services $15,224 · management and general $7,612
-
24b · Other expenses: BAD DEBT EXPENSE
total $9,900 · program services $9,900
-
24c · Other expenses: MISCELLANEOUS
total $6,978 · program services $6,978
-
24d · Other expenses: BANK CHARGES
total $3,272 · management and general $3,272
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $664,335 · end of year $719,813
-
2 · Savings and temporary cash investments
beginning of year $57,341 · end of year $68,981
-
4 · Accounts receivable
beginning of year $5,372 · end of year $18,866
-
7 · Other notes and loans receivable
beginning of year $187,154 · end of year $188,522
-
10a · Land, buildings and equipment: cost or other basis
$709,609
-
10b · Land, buildings and equipment: accumulated depreciation
$299,029
-
10c · Land, buildings and equipment, net
beginning of year $403,444 · end of year $410,580
-
15 · Other assets
beginning of year $29,492
-
17 · Accounts payable and accrued expenses
beginning of year $73,249 · end of year $72,357
-
27 · Net assets without donor restrictions
beginning of year $1,273,889 · end of year $1,321,280
-
28 · Net assets with donor restrictions
end of year $13,125
Mission and programs · 2022
Mission
THE SUAZO BUSINESS CENTER IS A 501 (C)(3) NONPROFIT WHOSE MISSION IS TO FOCUS ON THE ECONOMIC EMPOWERMENT OF THE MINORITY COMMUNITY THROUGH ENTREPRENEURSHIP. WE WORK TO END CYCLES OF POVERTY, ELIMINATE GENERATIONAL WEALTH GAPS, AND BUILD SELF-RELIANCE THROUGH SMALL BUSINESS OWNERSHIP. WE ARE A SMALL BUSINESS AND WORKFORCE DEVELOPMENT EDUCATION RESOURCE COMMITTED TO THE DEVELOPMENT AND EMPOWERMENT OF THE LATINO / HISPANIC, AND OTHER UNDERSERVED, COMMUNITIES. WE SUPPORT EXISTING AND NEW MINORITY ENTREPRENEURS AND SMALL BUSINESS OWNERS IN BECOMING SELF-RELIANT AND BUILDING WEALTH.
-
SUAZO BUSINESS CENTER IS A BUSINESS RESOURCE COMMITTED TO THE DEVELOPMENT AND EMPOWERMENT OF THE LATINO AND OTHER UNDERSERVED COMMUNITIES. SUAZO BUSINESS CENTER PROVIDES TRAINING, ADVISING, AND RESOURCES TO BREAK CYCLES OF POVERTY, BUILD WEALTH, AND PROMOTE ECONOMIC SELF-RELIANCE. 2023 MARKED OUR 20TH YEAR OF PROVIDING SERVICES TO OUR COMMUNITY AND THAT WAS CELEBRATED WITH A SOIREE EVENT IN SEPTEMBER. THE EVENT WAS A-ENDED BY CLIENTS FROM THE PAST TWO DECADES, MEMBERS OF OUR BOARD OF DIRECTORS, COMMUNITY, FRIENDS, AND FAMILY. THE SUAZO BUSINESS CENTER HAS ALWAYS BEEN A HUB OF CREATIVITY AND COLLABORATION, WHERE IDEAS FLOURISH AND BUSINESSES THRIVE. THIS YEAR, WE WERE ABLE TO OPEN OUR THIRD PHYSICAL LOCATION IN ST. GEORGE, BUILDING ON OUR EXPANSION TO OGDEN IN 2021 AND OUR PRIMARY, ANCHOR LOCATION IN SALT LAKE CITY. IN ADDITION TO OUR ENHANCED GEOGRAPHIC REACH, AN EXPANSION TO OUR ACCESS TO CAPITAL PROGRAM HAS BEEN SUPPORTED BY OUR DESIGNATION AS A COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI) BY THE US DEPARTMENT OF THE TREASURY. BEING A CDFI WILL ALLOW US TO FURTHER ASSIST OUR COMMUNITY IN CAPITAL AREAS THEY MAY FACE AS THEY GROW.
Expenses $1,239,154 · Grants $8,614 · Revenue $81,262
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Silvia CastroSILVIA CASTRO
PRESIDENT &
- Total calculated
- $181,737
- From this org
- $169,917
- From related orgs
- $0
- Other
- $11,820
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $169,917
- Bonus
- not reported
- Other
- not reported
- Deferred
- $11,820
- Nontaxable benefits
- not reported
- Filer's total
- $181,737
-
Blaine D BagleyBLAINE D BAGLEY
VICE CHAIRMA
- Total calculated
- $0
- Hours/week
- 2
-
R Bruce BowmanR BRUCE BOWMAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Cheryle CaplingerCHERYLE CAPLINGER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Pete CodellaPETE CODELLA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Gladys GonzalezGLADYS GONZALEZ
EMERITUS
- Total calculated
- $0
- Hours/week
- 0
-
Howard M HeadleeHOWARD M HEADLEE
TREASURER
- Total calculated
- $0
- Hours/week
- 2
-
Annalisa HolcombeANNALISA HOLCOMBE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Lorena Riffo JensonLORENA RIFFO JENSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Diego Alvarado KarsteDIEGO ALVARADO KARSTE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Anthony F MirabileANTHONY F MIRABILE
CHAIRMAN
- Total calculated
- $0
- Hours/week
- 2
-
Ted PetersonTED PETERSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Gina RasmusonGINA RASMUSON
SECRETARY
- Total calculated
- $0
- Hours/week
- 2
-
Alicia L SuazoALICIA L SUAZO
EMERITUS
- Total calculated
- $0
- Hours/week
- 0
-
Jennifer TarazonJENNIFER TARAZON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Jr VeraJR VERA
DIRECTOR
- 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 · 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
- 2022
- Filed
- 25 May 2024
- IRS schema version
- 2022v5.0
- Source object
- 202401709349300710
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