Totals
- Total revenue
- $1,705,273
- Total expenses
- $1,529,015
- Contributions and grants received
- $1,556,254
- Grants paid
- $26,060
- Program service revenue
- $138,204
- Investment income
- $10,815
- Other revenue
- $0
- Total assets, end of year
- $1,781,590
- Total liabilities, end of year
- $136,982
- Net assets or fund balances, end of year
- $1,644,608
- Program services expenses (Part IX)
- $1,173,442
- Management and general expenses
- $172,616
- Fundraising expenses
- $182,957
- Program service expenses (Part III)
- $1,173,442
Program services were 76.7% 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.
-
1e · Government grants (contributions)
$565,091
-
1f · All other contributions, gifts and grants
$991,163
-
2a · Program service revenue: SEMINARS & WORKSHOPS
total $116,842 · related or exempt $116,842
-
2b · Program service revenue: MICRO LOAN INTEREST AND FEES
total $21,362 · related or exempt $21,362
-
3 · Investment income
total $10,815 · excluded $10,815
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $7,500 · program services $7,500
-
2 · Grants to domestic individuals
total $18,560 · program services $18,560
-
5 · Compensation of officers, directors and key employees
total $185,564 · program services $111,338 · management and general $37,113 · fundraising $37,113
-
7 · Other salaries and wages
total $447,046 · program services $337,887 · management and general $63,648 · fundraising $45,511
-
8 · Pension plan contributions
total $21,191 · program services $15,270 · management and general $3,293 · fundraising $2,628
-
9 · Other employee benefits
total $34,585 · program services $24,922 · management and general $5,375 · fundraising $4,288
-
10 · Payroll taxes
total $43,802 · program services $31,564 · management and general $6,807 · fundraising $5,431
-
11b · Fees: legal
total $2,766 · management and general $2,766
-
11c · Fees: accounting
total $7,900 · management and general $7,900
-
11e · Fees: professional fundraising services
total $73,600 · fundraising $73,600
-
11g · Fees: other
total $205,447 · program services $195,447 · management and general $10,000
-
12 · Advertising and promotion
total $114,571 · program services $114,571
-
13 · Office expenses
total $19,169 · program services $13,812 · management and general $2,979 · fundraising $2,378
-
14 · Information technology
total $60,005 · program services $60,005
-
16 · Occupancy
total $66,948 · program services $47,522 · management and general $10,404 · fundraising $9,022
-
17 · Travel
total $31,281 · program services $31,281
-
19 · Conferences, conventions and meetings
total $68,296 · program services $68,296
-
22 · Depreciation, depletion and amortization
total $24,079 · program services $17,351 · management and general $3,742 · fundraising $2,986
-
23 · Insurance
total $2,997 · management and general $2,997
-
24a · Other expenses: MICRO LOAN LOSS RESERVE
total $51,429 · program services $51,429
-
24b · Other expenses: STAFF DEVELOPMENT
total $24,541 · program services $16,107 · management and general $8,434
-
24c · Other expenses: MEMBERSHIP DUES
total $8,942 · program services $8,942
-
24d · Other expenses: CREDIT CARD FEES
total $7,158 · management and general $7,158
-
24e · All other expenses
total $1,638 · program services $1,638
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $487,755 · end of year $640,518
-
2 · Savings and temporary cash investments
beginning of year $318,387 · end of year $322,395
-
3 · Pledges and grants receivable
end of year $150,000
-
4 · Accounts receivable
beginning of year $2,706 · end of year $1,215
-
7 · Other notes and loans receivable
beginning of year $337,183 · end of year $253,340
-
10a · Land, buildings and equipment: cost or other basis
$740,759
-
10b · Land, buildings and equipment: accumulated depreciation
$345,961
-
10c · Land, buildings and equipment, net
beginning of year $414,835 · end of year $394,798
-
15 · Other assets
end of year $19,324
-
17 · Accounts payable and accrued expenses
beginning of year $92,516 · end of year $110,646
-
25 · Other liabilities
end of year $26,336
-
27 · Net assets without donor restrictions
beginning of year $1,468,350 · end of year $1,494,608
-
28 · Net assets with donor restrictions
end of year $150,000
Mission and programs · 2024
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.
-
IN FISCAL YEAR 2025, SUAZO BUSINESS CENTER CONTINUED TO DRIVE INCLUSIVE ECONOMIC GROWTH FOR UTAHS UNDERSERVED ENTREPRENEURS. BUILDING ON OUR CDFI CERTIFICATION, WE EXPANDED ACCESS TO CAPITAL AND DELIVERED BILINGUAL TRAINING THAT EQUIPS CLIENTS TO LAUNCH, SUSTAIN, AND GROW THEIR BUSINESSES. SUAZO SERVED 920 UNDUPLICATED CLIENTS, LAUNCHED 246 NEW BUSINESSES, CREATED OR RETAINED 1,091 JOBS, AND DELIVERED 2,361 BUSINESS ADVISING SESSIONS. 95% OF PARTICIPANTS WERE LOW-TO-MODERATE INCOME AND 99% IDENTIFIED AS MINORITIES. OUR WORK CONTINUES TO LEVEL THE PLAYING FIELD, STRENGTHENING FAMILY LIVELIHOODS AND ADVANCING ECONOMIC EQUITY ACROSS UTAHS DIVERSE COMMUNITIES.
Expenses $1,173,442 · Grants $26,060 · Revenue $138,204
As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Silvia CastroSILVIA CASTRO
PRESIDENT &
- Total calculated
- $198,995
- From this org
- $179,023
- From related orgs
- $0
- Other
- $19,972
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $179,023
- Bonus
- not reported
- Other
- not reported
- Deferred
- $9,650
- Nontaxable benefits
- $10,322
- Filer's total
- $198,995
-
Blaine D BagleyBLAINE D BAGLEY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2.25
-
R Bruce BowmanR BRUCE BOWMAN
SECRETARY
- Total calculated
- $0
- Hours/week
- 2.25
-
Cheryle CaplingerCHERYLE CAPLINGER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Pete CodellaPETE CODELLA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Juanita DamonJUANITA DAMON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Reyes FloresREYES FLORES
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Leo GutierrezLEO GUTIERREZ
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Howard M HeadleeHOWARD M HEADLEE
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 2.5
-
Eli MadrigalELI MADRIGAL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Marlon MoralesMARLON MORALES
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2.25
-
Ted PetersonTED PETERSON
TREASURER
- Total calculated
- $0
- Hours/week
- 2.25
-
Lorena Riffo-JensonLORENA RIFFO-JENSON
CHAIR
- Total calculated
- $0
- Hours/week
- 2.5
-
Jennifer TarazonJENNIFER TARAZON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Jr VeraJR VERA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Marcia WhiteMARCIA WHITE
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
- 2024
- Filed
- 30 April 2026
- IRS schema version
- 2024v5.0
- Source object
- 202611339349303851
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