Wasatch Community Funding Inc

Nonprofit profile at a glance

EIN
472779680
IRS 990 coverage
2015–2016
Forms available
Form 990 2016
Location
Ogden, UT, USA
Phone
8016298604
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Federated Giving Programs

Reported finances

Revenue
$17,806
Expenses
$114,851
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2016. Amounts in USD.

Leadership & pay

10 people listed

People named in this filing

  • TOM CHRISTOPULOS (TRUSTEE)
  • JOHN E LINDQUIST (VICE CHAIR)
  • EDWARD KLEYN (SECRETARY)

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 2016. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Formed to assist in the reinvestment of the greater ogden area. The orc offers loans to borrowers with solid business models but that are not yet able to secure traditional bank financing, including: microenterprises, pre-development/bridge property acqauisition, small business startup and expansions, and housing/mixed use developments. These loan services are complimented with business counseling through the ogden city business information center (bic). Orc was provided with contributed services from ogden city.

What it reported doing in 2016

Wasatch community funding evaluates several new loan opportunities with small businesses in need of capital that do not qualify for traditional bank financing in the greater ogden area. Servicing existing loan portfolio

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
Distribution model
Grant intermediary. The nonprofit sent 77% 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. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 93
  • Accountability: 64
  • Sustainability: 11
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 99.5%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 79th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 1 of 7 controls in place; rating input score 14
    • Conflict-of-interest policy: Fail
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -545%; rating input score 7; 7th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 62; 62nd percentile among comparable filings

Growth

  • Program expense growth: 162.6% per year; rating input score 100; 99th percentile among comparable filings
  • Revenue growth: 195.8% per year; rating input score 100; 100th percentile among comparable filings
  • Asset growth: -200% per year; rating input score 0; 0th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 99.5% of spending went to programs
  • Governance: 10 of 10 board members independent · 1 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $114K in reported program spending
  • Leadership: top reported pay $0 · 10 people listed
  • Consistency: 11 of 11 current checks pass
  • Schedules: 4 filed schedules · includes grants
  • Filing history: 2 filing years from 2015 to 2016
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 1 filed related-organization link
  • 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 — Accountability: Governance controls: 5 of 6 not reported.
  • High — Sustainability: Operating margin scored 7/100.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • High — Growth: Asset growth scored 0/100.