Community Development Fund of Utah Inc

Analysis

Community Development Fund of Utah Inc is a registered charity in United States, based in Salt Lake Cty, UT. It received its IRS tax-exemption ruling in October 2011, 15 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 June 2023, Community Development Fund of Utah Inc reported income of $82k and spending of $69k, spending 84% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $242k to $82k (-66%), an average of -24% a year. The sharpest change came in the year to June 2022, when income rose by 458%. Over the whole period it spent 93% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Community Development Fund of Utah Inc sits at the 31st percentile: it is larger than about 31% of them. Against every charity in United States with reported income it ranks in the 32nd percentile, and in the 30th percentile within UT. Charities of a similar size with the same main cause include Mountain Empire Regional Business Incubator Inc ($82k), Community Giving Assistance Towards Employment ($82k) and Seniors Job Bank Inc ($82k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 58% and program service revenue 0.9% of the total. Other salaries and wages came to $25k. At year end it held assets of $1.6m against liabilities of $408k, net assets of $1.2m.