Overview
What is Utah Center For Neighborhood Stabilization?
The Utah Center for Neighborhood Stabilization (UCNS) is a nonprofit organization situated in Midvale, Utah. Its primary mission is to revitalize neighborhoods by offering affordable housing, neighborhood revitalization, and small business lending and investing through its subsidiary organizations. UCNS provides both single-family and multi-family housing units within its scope. The organization serves as an umbrella entity for several entities sharing the same board of directors and management team. The Utah Center for Neighborhood Stabilization has a structured $35 million revolving loan fund, which offers flexible short-term financing for developers seeking to create transit-oriented affordable housing near public transportation throughout the Wasatch Front. As of December 31, 2022, four transit-oriented development loans were issued and outstanding for a total of $6,074,612. Both non-profit and for-profit developers have access to this fund's resources, which can be used as a source of capital to secure key properties and provide construction financing for these projects.
Official website here: www.utcns.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 86%, Three-Star out of Four Star Rating
The Utah Center For Neighborhood Stabilization has received an overall score of 86%, indicating solid performance in terms of accountability and finance. This rating reflects a strong emphasis on financial management, as evidenced by a high Accountability & Finance Score. The organization boasts a fully independent board and robust oversight mechanisms, contributing positively to its credibility.
Despite its strengths, the organization does have some limitations, notably the absence of a whistleblower policy, which received a score of zero. This gap may raise concerns regarding transparency and the protection of individuals reporting unethical behavior. However, other aspects, such as having no material diversion of assets and maintaining clear financial statements, bolster its financial integrity.
Additionally, while the program expense ratio is respectable at 65.37%, there is room for improvement in this area, as it received a slightly lower score compared to other financial metrics. Overall, the Utah Center For Neighborhood Stabilization demonstrates solid governance and accountability practices with some areas identified for growth.
This AI summary has been generated from information found on Charity Navigator.
Is Utah Center For Neighborhood Stabilization legitimate?
Utah Center For Neighborhood Stabilization is a legitimate nonprofit organization registered as a 501(c)(3) entity. Utah Center For Neighborhood Stabilization 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: $163,288
Professional Fundraising Fees: $0
Other Salaries and Wages: $110,948
For more financial information, click here
Official website here: www.utcns.com
What is the mission statement of Utah Center For Neighborhood Stabilization?
The Utah Center for Neighborhood Stabilization (UCNS) aims to enhance neighborhoods through its subsidiary organizations. They achieve this by providing affordable housing options, both for single families and multi-family units. Additionally, UCNS engages in neighborhood revitalization and offers small business lending and investing opportunities. Acting as an umbrella organization for various entities with the same board of directors and management team, UCNS works towards improving and revitalizing communities.
Official website here: www.utcns.com
Who is the CEO of Utah Center For Neighborhood Stabilization?
Daniel Adams is the Principal Officer of Utah Center For Neighborhood Stabilization.
Official website here: www.utcns.com
What is the revenue of Utah Center For Neighborhood Stabilization?
Utah Center For Neighborhood Stabilization's revenue in 2022 was $605,933.
Official website here: www.utcns.com
Who are the executives of Utah Center For Neighborhood Stabilization and what are their salaries?
The average compensation at Utah Center For Neighborhood Stabilization during 2022 was $45,706. There are 6 employees and 13 volunteers at Utah Center For Neighborhood Stabilization.
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- Compensation: $237,969
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- Other: $31,597
- Compensation: $151,049
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- Other: $27,314
Official website here: www.utcns.com
Where can I find the form 990 for Utah Center For Neighborhood Stabilization?
Utah Center For Neighborhood Stabilization's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.utcns.com
Learn more at the official website: www.utcns.com
Mission Statement of Utah Center For Neighborhood Stabilization
The Utah Center for Neighborhood Stabilization (UCNS) plays a crucial role in stabilizing neighborhoods through its subsidiary organizations. This nonprofit organization achieves this mission by providing affordable housing options for both single families and multi-family units. Beyond housing, UCNS also engages in neighborhood revitalization efforts and small business lending and investing. As an umbrella organization, UCNS serves as a collective entity for several entities sharing the same board of directors and management team. By taking on these various roles, UCNS works to improve the overall stability and livability of neighborhoods.
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Impact
July, 2024
The Utah Center for Neighborhood Stabilization has a significant impact on stabilizing neighborhoods through its subsidiary organizations. It provides single-family and multi-family affordable housing, neighborhood revitalization, and small business lending and investing. The structured $35 million revolving loan fund supports developers in purchasing and developing transit-oriented affordable housing near public transportation throughout the Wasatch Front. This fund ensures that housing units are designated for residents with household incomes equal to or less than 80% of the area median income, with at least 60% of rental units being targeted for residents at 60% AMI or below.
As of December 31, 2022, the organization has issued four transit-oriented development loans totaling $6,074,612, with a portion of the fund allocated for loss mitigation. By providing access to capital for developers, the Utah Center for Neighborhood Stabilization contributes to the creation of more affordable housing units and stimulates neighborhood development.
This information is meant to be a general summary of Utah Center For Neighborhood Stabilization. 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 2022.
- Investment Income: $21,942
- Program Service Revenue: $523,349
- Gross Receipts: $689,625
Assets and Liabilities:
- Total Assets: $35,451,079
- Total Liabilities: $13,075,195
- Net Assets: $22,375,884
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST INCOME FROM N
Revenue
$359,671
OTHER REVENUE
Revenue
$83,050
LOAN FEES
Revenue
$80,628
Organization Details
Founding Year
2012
Phone
(801) 316-9118Principal Officer
Daniel Adams
Main Address
6880 S 700 W OFFICE 102, MIDVALE, UT, 84047
Website
www.utcns.comNTEE Category
Code: L20 - Housing
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