Overview
What is Community Development Fund Of Utah?
The Community Development Fund of Utah is a nonprofit organization situated in Salt Lake City, Utah. Their primary mission is to assist aspiring homeowners in their journey towards homeownership. Through their HomeFit loan program, they offer second mortgages, eliminating the need for mortgage insurance and thus reducing the overall cost of financing home purchases for low to moderate-income families. The organization is also dedicated to developing sustainable and affordable housing, revitalizing and stabilizing neighborhoods and communities, and promoting self-sufficiency through homeownership.
Is Community Development Fund Of Utah legitimate?
Community Development Fund Of Utah is a legitimate nonprofit organization registered as a 501(c)(3) entity. Community Development Fund Of Utah 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.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $25,006
For more financial information, click here
What is the mission statement of Community Development Fund Of Utah?
The Community Development Fund of Utah assists aspiring homeowners in their journey towards homeownership, develops sustainable and affordable housing, revitalizes and stabilizes neighborhoods and communities, and promotes self-sufficiency through home ownership. In line with its mission, the organization provides second mortgages as part of its HomeFit loan program, which helps low to moderate income households finance home purchases without requiring mortgage insurance, thereby reducing the overall cost of financing home purchases.
Who is the CEO of Community Development Fund Of Utah?
J Todd Reeder is the CEO of Community Development Fund Of Utah The CEO's salary of Community Development Fund Of Utah is $0 and their total compensation is $138,530.
What is the revenue of Community Development Fund Of Utah?
Community Development Fund Of Utah's revenue in 2023 was $81,669.
Who are the executives of Community Development Fund Of Utah and what are their salaries?
Here are 10 key members and their salaries (Community Development Fund Of Utah's CEO's salary is $0 and their total compensation is $138,530):
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- Related: $111,210
- Other: $27,320
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- Related: $104,864
- Other: $8,971
- Compensation: $0
- Related: $140,715
- Other: $17,875
Where can I find the form 990 for Community Development Fund Of Utah?
Community Development Fund Of Utah's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Community Development Fund Of Utah
The Community Development Fund of Utah is dedicated to aiding aspiring homeowners on their journey towards homeownership. Their mission is multifaceted, involving the development of sustainable and affordable housing, revitalizing and stabilizing neighborhoods and communities, and promoting self-sufficiency through homeownership. By embracing this mission, the Community Development Fund of Utah aims to make a significant impact on individuals and families, helping them achieve a stable and secure living situation.
In pursuit of their mission, the Community Development Fund of Utah provides 2nd mortgages as part of their HomeFit Loan Program. This program is specifically designed to assist low to moderate-income households in financing their home purchases. By offering this product, the Community Development Fund of Utah reduces the overall cost of financing home purchases, making it more accessible for families who may have otherwise struggled to secure the necessary funds. This innovative approach not only helps individuals become homeowners but also contributes to the revitalization and stabilization of communities by increasing homeownership rates and fostering a sense of pride and investment in local neighborhoods.
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Impact
October, 2024
The Community Development Fund of Utah significantly impacts aspiring homeowners and local communities by facilitating access to affordable housing. Through its HomeFit Loan program, it provides second mortgages that aid low to moderate-income households in purchasing homes without the burden of mortgage insurance, ultimately lowering the overall cost of financing.
By promoting homeownership, the fund plays a vital role in stabilizing neighborhoods and fostering sustainable community development. Its efforts contribute to revitalizing areas and enhancing the overall quality of life for residents, encouraging self-sufficiency and economic growth. The organization's dedication to these initiatives helps create lasting change, empowering families and strengthening the fabric of communities in the Salt Lake City area.
This information is meant to be a general summary of Community Development Fund Of Utah. Please take the time to review official sources before making any decisions based upon the content provided here.
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 2023.
- Investment Income: $33,195
- Program Service Revenue: $745
- Gross Receipts: $81,669
Assets and Liabilities:
- Total Assets: $1,739,398
- Total Liabilities: $518,881
- Net Assets: $1,220,517
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
ORIGINATION FEE
Revenue
$745
Organization Details
Founding Year
2010
Principal Officer
J Todd Reeder
NTEE Category
Code: S30 - Community improvement
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