Utah Apartment Association

Nonprofit profile at a glance

EIN
870667465
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Sandy, UT, USA
Phone
8014875619
Rating
38
Verdict
REVIEW
Rating confidence
Moderate
Sector
Business and Industry

Official website

Reported finances

Revenue
$2,402,808
Expenses
$1,439,052
Assets
$1,107,860
Liabilities
$8,507

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

27 people listed

Executive titles in this filing

  • L PAUL SMITH (CEO & GENERA)
  • RYAN FROERER (PRESIDENT)

Highest reported compensation

  • L PAUL SMITH (CEO & GENERA): $204,302 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

See schedule o

What it reported doing in 2024

NA

Operating model

Revenue model
Membership-supported. 89% of the money available for current operations came from membership dues.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

REVIEW - The filed numbers largely add up and program spending has grown recently. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 60
  • Accountability: 58
  • Sustainability: 63
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0.4%; rating input score 0
  • Program expense ratio: 0.7%; rating input score 1
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 0 of 8 controls in place; rating input score 0
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 40.1%; rating input score 89; 89th percentile among comparable filings
  • Total-asset coverage ratio: 0.77; rating input score 29; 29th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 87; 87th percentile among comparable filings
  • Officer compensation ratio: 14.2%; rating input score 20; 20th percentile among comparable filings

Growth

  • Program expense growth: 150% per year; rating input score 100; 100th percentile among comparable filings
  • Revenue growth: 6.6% per year; rating input score 100; 52nd percentile among comparable filings
  • Asset growth: 8.7% per year; rating input score 100; 53rd percentile among comparable filings

Details

  • Where the money goes: 0.4% of revenue deployed · 0.7% of spending went to programs
  • Governance: 29 of 29 board members independent · 0 of 8 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $204K · 27 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 25 of 25 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 5 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 1/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Accountability: Governance controls: 7 of 7 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 29/100.
  • High — Sustainability: Officer compensation ratio scored 20/100.