Skip to content
Nonprofiteer
← COMMUNITY DEVELOPMENT CORPORATION OF UTAH

Form 990 for tax year 2023

Filed by COMMUNITY DEVELOPMENT CORPORATION OF UTAH.

Totals

Total revenue
$35,029,731
Total expenses
$34,187,648
Contributions and grants received
$33,527,775
Grants paid
$30,901,478
Program service revenue
$1,180,041
Investment income
$12,293
Other revenue
$309,622
Total assets, end of year
$20,732,929
Total liabilities, end of year
$17,599,378
Net assets or fund balances, end of year
$3,133,551
Program services expenses (Part IX)
$33,663,864
Management and general expenses
$469,931
Fundraising expenses
$53,853
Program service expenses (Part III)
$33,663,864

Program services were 98.5% 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)

    $32,977,013

  • 1f · All other contributions, gifts and grants

    $550,762

  • 2a · Program service revenue: PROJECT FEES - COUNTY HOMES

    total $1,180,041 · related or exempt $1,180,041

  • 3 · Investment income

    total $12,293 · excluded $12,293

  • 6a · Gross rents

    real property $313,373

  • 6b · Less rental expenses

    real property $35,951

  • 6c · Rental income or loss

    real property $277,422

  • 6d · Net rental income or loss

    total $277,422 · related or exempt $277,422

  • 10a · Gross sales of inventory

    $1,737,000

  • 10b · Cost of goods sold

    $1,722,731

  • 10c · Net income from sales of inventory

    total $14,269 · related or exempt $14,269

  • 11a · Other revenue: MISCELLANEOUS

    total $14,033 · related or exempt $14,033

  • 11b · Other revenue: DPA SERVICE FEES

    total $2,398 · related or exempt $2,398

  • 11c · Other revenue: HBE FEES

    total $1,500 · related or exempt $1,500

  • 11e · Other revenue, total

    $17,931

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $30,901,478 · program services $30,901,478

  • 5 · Compensation of officers, directors and key employees

    total $276,029 · program services $234,112 · management and general $40,483 · fundraising $1,434

  • 7 · Other salaries and wages

    total $1,548,656 · program services $1,313,479 · management and general $227,131 · fundraising $8,046

  • 8 · Pension plan contributions

    total $104,381 · program services $88,530 · management and general $15,309 · fundraising $542

  • 9 · Other employee benefits

    total $296,252 · program services $251,264 · management and general $43,449 · fundraising $1,539

  • 10 · Payroll taxes

    total $156,125 · program services $132,416 · management and general $22,898 · fundraising $811

  • 11a · Fees: management

    total $109,598 · program services $71,622 · management and general $19,603 · fundraising $18,373

  • 11b · Fees: legal

    total $1,273 · program services $832 · management and general $228 · fundraising $213

  • 11c · Fees: accounting

    total $98,060 · program services $64,083 · management and general $17,539 · fundraising $16,438

  • 12 · Advertising and promotion

    total $37,080 · program services $14,759 · management and general $16,683 · fundraising $5,638

  • 13 · Office expenses

    total $11,069 · program services $9,679 · management and general $1,379 · fundraising $11

  • 14 · Information technology

    total $129,730 · program services $124,903 · management and general $4,755 · fundraising $72

  • 17 · Travel

    total $4,206 · program services $3,435 · management and general $769 · fundraising $2

  • 19 · Conferences, conventions and meetings

    total $2,684 · program services $1,656 · management and general $1,028

  • 20 · Interest

    total $125,768 · program services $125,479 · management and general $275 · fundraising $14

  • 22 · Depreciation, depletion and amortization

    total $78,079 · program services $73,390 · management and general $4,607 · fundraising $82

  • 23 · Insurance

    total $37,380 · program services $26,936 · management and general $10,253 · fundraising $191

  • 24a · Other expenses: ALL OTHER EXPENSES

    total $142,315 · program services $125,104 · management and general $17,209 · fundraising $2

  • 24b · Other expenses: UTILITIES

    total $51,402 · program services $49,198 · management and general $2,183 · fundraising $21

  • 24c · Other expenses: DUES AND SUBSCRIPTIONS

    total $32,336 · program services $19,996 · management and general $12,067 · fundraising $273

  • 24d · Other expenses: REPAIRS AND MAINTENANCE

    total $22,259 · program services $14,237 · management and general $7,933 · fundraising $89

  • 24e · All other expenses

    total $21,488 · program services $17,276 · management and general $4,150 · fundraising $62

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $625,276 · end of year $778,419

  • 2 · Savings and temporary cash investments

    beginning of year $6,654,623 · end of year $2,999,987

  • 4 · Accounts receivable

    beginning of year $1,337,200 · end of year $2,783,849

  • 7 · Other notes and loans receivable

    beginning of year $101,535 · end of year $111,750

  • 8 · Inventories for sale or use

    beginning of year $6,122,838 · end of year $7,757,810

  • 9 · Prepaid expenses and deferred charges

    beginning of year $165,654 · end of year $115,784

  • 10a · Land, buildings and equipment: cost or other basis

    $5,484,981

  • 10b · Land, buildings and equipment: accumulated depreciation

    $671,046

  • 10c · Land, buildings and equipment, net

    beginning of year $4,459,397 · end of year $4,813,935

  • 11 · Investments: publicly traded securities

    beginning of year $221,700 · end of year $365

  • 14 · Intangible assets

    beginning of year $1,371,030 · end of year $1,371,030

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,065,429 · end of year $1,312,790

  • 19 · Deferred revenue

    beginning of year $6,333,696 · end of year $2,866,341

  • 22 · Loans and payables to officers and key people

    beginning of year $4,972,029 · end of year $4,571,489

  • 23 · Secured mortgages and notes payable

    beginning of year $6,396,631 · end of year $8,848,758

  • 27 · Net assets without donor restrictions

    beginning of year $1,697,253 · end of year $2,713,838

  • 28 · Net assets with donor restrictions

    beginning of year $594,215 · end of year $419,713

Mission and programs · 2023

Mission

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.

  • DOWN PAYMENT ASSISTANCE GRANTED $81,400 IN DOWN PAYMENT ASSISTANCE GRANTS TO 2 LOW- AND MODERATE-INCOME FAMILIES TO OFFSET CLOSING COSTS AND ENABLE FAMILIES TO SUCCESSFULLY PURCHASE AN AFFORDABLE HOME.

    Expenses $104,452 · Grants $81,400 · Revenue $2,398

  • 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.

    Expenses $310,607 · Grants $249,673 · Revenue $100

  • MORTGAGE ASSISTANCE GRANTED $30,570,405 IN MORTGAGE ASSISTANCE GRANTS TO 1,357 LOW- TO MODERATE-INCOME 1,357 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.

    Expenses $32,199,386 · Grants $30,570,405

  • HOMEBUYER EDUCATION AND FORECLOSURE MITIGATION COUNSELING PROVIDED FINANCIAL EDUCATION AND COUNSELING SERVICES TO 1,441 LOW- TO MODERATE-INCOME HOUSEHOLDS (5,067 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.

    Expenses $399,976 · Revenue $1,500

  • REAL ESTATE DEVELOPMENT.

    Expenses $328,948 · Revenue $1,180,041

  • AFFORDABLE HOUSING - PRESERVES EXISTING AFFORDABLE HOUSING BY ACQUIRING AND REHABILITATING MULTI-FAMILY PROPERTIES THAT ARE RENTED TO LOW-TO-MODERATE INCOME RESIDENTS.

    Expenses $320,495 · Revenue $277,322

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Scott Roberts

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Ryan Peel

    PRESIDENT & SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Lily Gray

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Kisty Morris

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Zach Taylor

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Kenneth Robertson

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Vicky Fuentes

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Viridiana Najera

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Bryce Williams

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Tammy Husaker

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • J Todd Reeder

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $167,516
    From this org
    $153,066
    From related orgs
    $0
    Other
    $14,450
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $153,066
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $14,450
    Filer's total
    $167,516

  • Sarah Beaumont

    CHIEF FINANCIAL OFFICER

    Total calculated
    $108,513
    From this org
    $100,304
    From related orgs
    $0
    Other
    $8,209
    Hours/week
    40

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 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

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.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • CDC HOMES LLC

    REAL ESTATE BROKERAGE · UT

    Directly controlled by COMMUNITY DEVELOPMENT CORPORATION OF UTAH

Provenance

Return type
form_990
Tax year
2023
Filed
6 May 2025
IRS schema version
2023v6.0
Source object
202531279349303633

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.