Overview
What is Utah Microenterprise Loan Fund?
Utah Microenterprise Loan Fund is a nonprofit organization situated in Salt Lake City, Utah. Their primary purpose is to provide financial and support resources to disadvantaged individuals who wish to establish or expand small businesses. They offer loans up to $50,000 to individuals who lack the necessary resources to do so. During the fiscal year, they made 52 such loans totaling $1,576,034. Their mission involves offering funding and management assistance to businesses that struggle to access traditional sources of funding, particularly those within the low/moderate income community. The organization employs a small team of eight individuals.
Official website here: www.umlf.com
Is Utah Microenterprise Loan Fund legitimate?
Utah Microenterprise Loan Fund is a legitimate nonprofit organization registered as a 501(c)(3) entity. Utah Microenterprise Loan Fund submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Here are some key statistics you may want to consider:
Executive Compensation: $134,656
Professional Fundraising Fees: $0
Other Salaries and Wages: $331,406
For more financial information, click here
Official website here: www.umlf.com
What is the mission statement of Utah Microenterprise Loan Fund?
The Utah Microenterprise Loan Fund's mission is to provide funding and management assistance to new and existing businesses that struggle to secure traditional financing sources. This includes supporting businesses owned by individuals in the low/moderate income community. Through its services, the fund offers loans of up to $50,000 to financially and socially disadvantaged individuals who wish to start or expand a small business, but lack sufficient resources to do so. During the fiscal year, 52 loans were granted in total, amounting to $1,576,034.
Official website here: www.umlf.com
Who is the CEO of Utah Microenterprise Loan Fund?
Doug Keefe is the Executive Dir. of Utah Microenterprise Loan Fund.
Official website here: www.umlf.com
What is the revenue of Utah Microenterprise Loan Fund?
Who are the executives of Utah Microenterprise Loan Fund and what are their salaries?
The average compensation at Utah Microenterprise Loan Fund during 2022 was $58,258. There are 8 employees and 37 volunteers at Utah Microenterprise Loan Fund.
Here are 21 key members and their salaries:
- Doug Keefe (Executive Dir.)
- Danielle Lower (Prior Exec. Dir)
- Roger Christensen (Past Chair) [Trustee/Director]
- Lori Fike (Secretary) [Trustee/Director]
- Ryan Jones (Chair) [Trustee/Director]
- Lynette Mcelprang (Board Member) [Trustee/Director]
- Eric Marx (Treasurer) [Trustee/Director]
- Sam Roberts (Board Member) [Trustee/Director]
- Doug Lund (Board Member) [Trustee/Director]
- John Taudte (Board Member) [Trustee/Director]
- Todd Jones (Board Member) [Trustee/Director]
- Don Poulton (Board Member) [Trustee/Director]
- Jim Herrin (Board Member) [Trustee/Director]
- Jim Welch (Board Member) [Trustee/Director]
- Robert Christensen (Board Member) [Trustee/Director]
- Mike Weaver (Board Member) [Trustee/Director]
- Seth Wheatley (Board Member) [Trustee/Director]
- David Young (Board Member) [Trustee/Director]
- Jennifer Welding (Board Member) [Trustee/Director]
- Joe Eyre (Board Member) [Trustee/Director]
- Matthew Renlund (Board Memebr) [Trustee/Director]
Official website here: www.umlf.com
Where can I find the form 990 for Utah Microenterprise Loan Fund?
The Utah Microenterprise Loan Fund’s most recent form 990 was submitted in 2022 and can be accessed here
Official website here: www.umlf.com
Learn more at the official website: www.umlf.com
Mission Statement of Utah Microenterprise Loan Fund
Utah Microenterprise Loan Fund is an organization dedicated to providing funding and management assistance to new and existing businesses that struggle to secure traditional sources of financing. This includes individuals from the low/moderate income community. Their mission is to bridge this financial gap, enabling financially and socially disadvantaged individuals to start or expand small businesses, even if they lack sufficient resources to do so. In the recent fiscal year, the fund granted 52 loans totaling $1,576,034 to support these entrepreneurs.
Impact
This information is meant to be a general summary of Utah Microenterprise Loan Fund. Please take the time to review official sources before making any decisions based upon the content provided here.
Saturday, July 20, 2024
Utah Microenterprise Loan Fund provides essential funding and management assistance to both new and existing businesses that face challenges in accessing traditional sources of funding. This includes individuals from low and moderate-income communities who may struggle to secure loans through conventional channels. In the fiscal year detailed, the organization facilitated 52 loans amounting to $1,576,034, supporting financially and socially disadvantaged individuals in starting or expanding small businesses. By offering loans of up to $50,000, Utah Microenterprise Loan Fund is making a tangible impact on empowering entrepreneurs and fostering economic growth within underserved communities.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Assets and Liabilities:
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOAN FEES
Revenue
$46,623
LOAN INTEREST
Revenue
$185,211
Organization Details
Founding Year
1991
Phone
(801) 746-1180
Principal Officer
Doug Keefe
Main Address
154 EAST FORD AVENUE STE A, SALT LAKE CITY, UT, 84115
Website
www.umlf.com
NTEE Category
Code: W60Z - Public benefit
If you are a representative of Utah Microenterprise Loan Fund and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.