Utah Microenterprise Loan Fund

Analysis

Utah Microenterprise Loan Fund is a registered charity in United States, based in S Salt Lake, UT. It received its IRS tax-exemption ruling in September 1992, 34 years ago. Its declared purposes cover public and societal benefit, which this site groups under other charitable purposes. 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 September 2023, Utah Microenterprise Loan Fund reported income of $548k and spending of $1.1m, spending 196% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income fell from $645k to $548k (-15%), an average of -4.0% a year. The sharpest change came in the year to September 2023, when income dropped by 30%. Over the whole period it spent 138% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Utah Microenterprise Loan Fund sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 70th percentile within UT. Charities of a similar size with the same main cause include Brentwood Pony Baseball ($548k), Montecito Union School Foundation ($548k) and Carmel Volunteer Ambulance Corporation ($548k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 51% and program service revenue 48% of the total. Compensation of current officers, directors and key employees was $156k (15% of expenses). Other salaries and wages came to $361k. At year end it held assets of $4.0m against liabilities of $3.3m, net assets of $715k. It reported 9 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.