Grow Utah Ventures Inc

Analysis

Grow Utah Ventures Inc is a registered charity in United States, based in Kaysville, UT. It received its IRS tax-exemption ruling in May 2010, 16 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Grow Utah Ventures Inc reported income of $280k and spending of $296k, spending 106% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $241k to $280k (+16%), an average of +3.8% a year. The sharpest change came in the year to December 2023, when income rose by 17%. Over the whole period it spent 94% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Grow Utah Ventures Inc sits at the 57th percentile: it is larger than about 57% of them. Against every charity in United States with reported income it ranks in the 60th percentile, and in the 59th percentile within UT. Charities of a similar size with the same main cause include Sooners Helping Sooners Inc ($280k), School Foundation Inc ($280k) and Purple Heart Project ($280k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 93% and program service revenue 7.3% of the total. At year end it held assets of $105k against liabilities of $2,430, net assets of $102k.