Utah Capital Investment Corp

Nonprofit profile at a glance

EIN
753146492
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Lehi, UT, USA
Phone
8014327667
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Community, Neighborhood Development

Reported finances

Revenue
$2,081,723
Expenses
$3,976,362
Assets
$34,619,318
Liabilities
$329

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

Leadership & pay

5 people listed

People named in this filing

  • MARLO OAKS (BOARD MEMBER)
  • PAUL CLAYSON (BOARD MEMBER)
  • JASON GULL (BOARD MEMBER)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

To provide economic stimulus for Utah businesses by organizing and acting as the managing member of the Utah fund of funds, llc (EIN: 11-3775457). The fund is a state of Utah economic development program aimed at providing access to alternative or non-traditional capital to Utah enterpreneurs.

What it reported doing in 2024

Utah capital investment corp was established for the management of the Utah fund of funds, llc (EIN: 11-3775457).ufof is a limited liability company organized under the laws of the state of Utah. Ufof commenced operations on march 16, 2006. Ufof is a state of Utah economic development program aimed at providing access to alternative or non-traditional capital by Utah entrepreneurs. It does not invest money into any company or individual but rather invests in venture capital and private equity funds that commit to establishing a working relationship with the fund and with Utah's start-up and business community, and making investments in qualified companies. Ufof invests in venture capital and private equity funds located both in Utah and outside of Utah. As of december 31, 2024 ufof's portfolio of funds had 27 investments.

Operating model

Revenue model
Investment-supported. 78% of the money available for current operations came from recurring investment income.
Distribution model
Grant intermediary. The nonprofit sent 91% of its reported program spending out as grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing reports few safeguards for money sent abroad and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 72
  • Accountability: 82
  • Sustainability: 49
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 97.1%; rating input score 97
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Scored; rating input score 0
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 4 of 7 controls in place; rating input score 57
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -91%; rating input score 1; 1st percentile among comparable filings
  • Total-asset coverage ratio: 8.71; rating input score 90; 90th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 94; 94th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

  • Program expense growth: 4% per year; rating input score 100; 33rd percentile among comparable filings
  • Revenue growth: 2% per year; rating input score 100; 21st percentile among comparable filings
  • Asset growth: 2% per year; rating input score 100; 20th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 97.1% of spending went to programs
  • Governance: 3 of 3 board members independent · 4 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $3.9M in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Highest-paid contractors: 1 contractor listed · $200K reported
  • Consistency: 25 of 25 current checks pass
  • Schedules: 7 filed schedules · includes foreign activity and grants
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 3 filed related-organization links
  • 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 — Transparency & Controls: Foreign activity oversight scored 0/100.
  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Sustainability: Operating margin scored 1/100.