Overview
What is Utah Capital Investment Corp?
Utah Capital Investment Corp is a nonprofit organization based in Salt Lake City, Utah, with a primary objective of stimulating the economy of Utah businesses. Established in 2006 as the managing member of the Utah Fund of Funds, LLC, this entity serves as a bridge for Utah entrepreneurs seeking alternative or non-traditional capital. Rather than investing directly, Utah Capital Investment Corp funds venture capital and private equity firms that commit to fostering relationships with the local startup and business community, and invest in qualifying companies. As of December 31, 2021, their portfolio consisted of 28 investments, both within and outside of Utah. With a small team of two dedicated individuals, they work tirelessly to support the growth and success of Utah businesses.
Is Utah Capital Investment Corp legitimate?
Utah Capital Investment Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Utah Capital Investment Corp 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: $309,101
Professional Fundraising Fees: $0
Other Salaries and Wages: $16,676
For more financial information, click here
What is the mission statement of Utah Capital Investment Corp?
Utah Capital Investment Corp's mission is to stimulate the economy of local businesses by serving as the managing member of the Utah Fund of Funds, LLC. This fund is a state-sponsored program designed to provide access to alternative or non-traditional capital for Utah entrepreneurs. Instead of investing directly into companies, Utah Capital Investment Corp invests in venture capital and private equity funds that establish relationships with the fund and Utah's startup and business community, ultimately investing in qualified businesses. As of December 31, 2021, the fund had 28 investments in its portfolio, which includes funds located both within and outside of Utah.
Who is the CEO of Utah Capital Investment Corp?
Kirt Slaugh is the Managing Director of Utah Capital Investment Corp.
What is the revenue of Utah Capital Investment Corp?
Utah Capital Investment Corp's revenue in 2022 was -$60,060.
Who are the executives of Utah Capital Investment Corp and what are their salaries?
The average compensation at Utah Capital Investment Corp during 2022 was $162,888. There are 2 employees and 3 volunteers at Utah Capital Investment Corp.
Here are 4 key members and their salaries:
- Compensation: $280,000
- Related: $0
- Other: $29,101
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Utah Capital Investment Corp?
Utah Capital Investment Corp's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Utah Capital Investment Corp
Utah Capital Investment Corp, established with the purpose of managing the Utah Fund of Funds (UFOF), seeks to stimulate the economy of Utah businesses. As the managing member of UFOF, this organization serves as a state economic development program, aiming to provide alternative or non-traditional capital to aspiring entrepreneurs within Utah. Rather than directly investing in companies or individuals, Utah Capital Investment Corp invests in venture capital and private equity funds that establish collaborative relationships with the fund and Utah's start-up and business community. These investments are made in qualified companies, both within and outside the state of Utah. As of December 31, 2021, UFOF's portfolio of funds boasted 28 investments, demonstrating its commitment to supporting and fostering growth in Utah's entrepreneurial sector.
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Impact
October, 2024
Utah Capital Investment Corp plays a significant role in enhancing the economic landscape for businesses in Utah by managing the Utah Fund of Funds, LLC. Established as part of a state economic development initiative, this organization facilitates access to alternative and non-traditional capital for local entrepreneurs.
By investing in venture capital and private equity funds that are committed to working with Utah's start-up ecosystem, Utah Capital Investment Corp enables these funds to make essential capital available to qualified companies. As of December 31, 2021, the Fund's portfolio included 28 investments, underlining the breadth of its impact on fostering innovation and growth across various sectors.
The mechanisms put in place by Utah Capital Investment Corp not only help entrepreneurs secure the necessary funding to launch and expand their businesses but also stimulate overall economic activity, reinforcing Utah’s position as a vibrant hub for enterprise development.
This information is meant to be a general summary of Utah Capital Investment Corp. 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: -$67,348
- Gross Receipts: $601,896
Assets and Liabilities:
- Total Assets: $52,694,225
- Total Liabilities: $29,200
- Net Assets: $52,665,025
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Organization Details
Founding Year
2004
Phone
(801) 432-7667Principal Officer
Kirt Slaugh
Main Address
6465 SOUTH 3000 EAST SUITE 105, SALT LAKE CITY, UT, 84121
NTEE Category
Code: S20 - Community improvement
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