Utah Microenterprise Loan Fund
Utah Microenterprise Loan Fund
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About this organization
Mission
Make small micro-loans to new business owners.
About
Loans made up to $50,000 to financially and/or socially disadvantaged individuals who will start or expand a small business and have no other financial resources to do so. During the fiscal year, 40 loans were made totalling over $1.5 million.
Interesting data from their 2020 990 filing
The filing sets forth the mission of the non-profit as “Provide funding and management assistance to new and existing businesses that are not able to access traditional sources of funding; including those who are members of the low/moderate income community.”.
When detailing its responsibilities, they were listed as: “Make small micro-loans to new business owners.”.
- The state in which the non-profit is legally permitted to operate is UT.
- The address of the non-profit for 2020 according to the filing is 154 EAST FORD AVENUE STE A, SALT LAKE CITY, UT, 84115.
- The number of employees reported by the non-profit on their form as of 2020 is 7.
- Does not operate a hospital.
- Does not operate a school.
- Does not collect art.
- Provides credit counseling.
- Does not have foreign activities.
- Is not a donor advised fund.
- Is not a private foundation.
- Expenses are between $500,000 and $1,000,000+.
- Revenue is between $500,000 and $1,000,000+.
- Revenue less expenses is -$95,748.
- The CEO compensation structure within the organization is based on a review and approval from a neutral party.
- The organization has a written policy that describes how long it will retain documents.
- The organization has 16 independent voting members.
- The organization was formed in 1991.
- The organization has a written policy that addresses conflicts of interest.
- The organization is required to file Schedule B.
- The organization is required to file Schedule O.
- The organization pays $379,135 in salary, compensation, and benefits to its employees.
- The organization pays $50,530 in fundraising expenses.
- The organization provides Form 990 to its governing body.
- The organization has minutes of its meetings.
- The organization's financial statements were reviewed by an accountant.
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