Economic Development Corp Of Utah
EIN: 742502619 · Salt Lake Cty, UT · NTEE: S41
| Metric | Value |
|---|---|
| Total Revenue | $2.1M |
| Total Expenses | $2.9M |
| Net Assets | $3.5M |
Is Economic Development Corp Of Utah Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Economic Development Corp Of Utah
Economic Development Corp Of Utah (EIN: 742502619) is a nonprofit organization based in Salt Lake Cty, UT, classified under NTEE code S41. The organization reported total revenue of $2.1M and total assets of $3.5M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Economic Development Corp Of Utah's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Economic Development Corp Of Utah is a mid-size nonprofit that has been operating for 10 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 2.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $3.0M |
| Total Expenses | $2.9M |
| Surplus / Deficit | +$53K |
| Total Assets | $4.5M |
| Total Liabilities | $951K |
| Net Assets | $3.5M |
| Operating Margin | 1.8% |
| Debt-to-Asset Ratio | 21.2% |
| Months of Reserves | 18.5 months |
Financial Health Grade: A
In 2023, Economic Development Corp Of Utah reported a surplus of $53K with revenue exceeding expenses, holds 18.5 months of operating reserves (strong position), has a debt-to-asset ratio of 21.2% (moderate leverage).
Financial Trends
Over 13 years of filings (2011–2023), Economic Development Corp Of Utah's revenue has grown at a compound annual growth rate (CAGR) of 2.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -5.4% | +1.3% | +20.2% |
| 2022 | +6.1% | +2.5% | +1.6% |
| 2021 | -0.2% | -3.6% | +16.1% |
| 2020 | +7.6% | +5.8% | +125.6% |
| 2019 | +6.8% | +10.2% | +8.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 3000 |
| IRS Ruling Date | 2016 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Economic Development Corp Of Utah has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Economic Development Corp Of Utah with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $53K, with revenue exceeding expenses.
- Debt-to-asset ratio: 21.2%.
Frequently Asked Questions about Economic Development Corp Of Utah
Is Economic Development Corp Of Utah a legitimate charity?
Based on AI analysis of IRS 990 filings, Economic Development Corp Of Utah (EIN: 742502619) insufficient data. 0 red flags identified, 0 strengths noted.
How does Economic Development Corp Of Utah spend its money?
Detailed spending breakdown data is not yet available for Economic Development Corp Of Utah. Check back for updated IRS 990 analysis.
Are donations to Economic Development Corp Of Utah tax-deductible?
Economic Development Corp Of Utah is registered as a tax-exempt nonprofit (EIN: 742502619). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Economic Development Corp Of Utah located?
Economic Development Corp Of Utah is headquartered in Salt Lake Cty, Utah and files with the IRS under EIN 742502619. It is classified under NTEE code S41.
How many years of IRS 990 filings does Economic Development Corp Of Utah have?
Economic Development Corp Of Utah has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $2.1M in total revenue.
Filing History
IRS 990 filing history for Economic Development Corp Of Utah showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Economic Development Corp Of Utah's revenue has grown by 26.9%, moving from $2.3M to $3.0M. Total assets increased by 450.8% over the same period, from $813K to $4.5M. Total functional expenses rose by 6.5%, from $2.7M to $2.9M. In its most recent filing year (2023), Economic Development Corp Of Utah reported a surplus of $53K, with revenue exceeding expenses. The organization holds $951K in liabilities against $4.5M in assets (debt-to-asset ratio: 21.2%), resulting in net assets of $3.5M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $3.0M | $2.9M | $4.5M | $951K | — | View 990 |
| 2022 | $3.1M | $2.9M | $3.7M | $253K | — | View 990 |
| 2021 | $2.9M | $2.8M | $3.7M | $454K | — | — |
| 2020 | $2.9M | $2.9M | $3.2M | $93K | — | — |
| 2019 | $2.7M | $2.7M | $1.4M | $227K | — | View 990 |
| 2018 | $2.6M | $2.5M | $1.3M | $122K | — | View 990 |
| 2017 | $2.6M | $2.8M | $1.2M | $97K | — | View 990 |
| 2016 | $2.9M | $2.9M | $1.4M | $148K | — | View 990 |
| 2015 | $3.3M | $2.9M | $1.5M | $161K | — | View 990 |
| 2014 | $2.6M | $2.7M | $1.1M | $122K | — | View 990 |
| 2013 | $2.9M | $2.6M | $1.2M | $152K | — | — |
| 2012 | $3.0M | $2.7M | $948K | $258K | — | — |
| 2011 | $2.3M | $2.7M | $813K | $0 | — | — |
Year-by-Year Financial Summary
- 2023: Revenue of $3.0M, expenses of $2.9M, and assets of $4.5M (revenue -5.4% year-over-year).
- 2022: Revenue of $3.1M, expenses of $2.9M, and assets of $3.7M (revenue +6.1% year-over-year).
- 2021: Revenue of $2.9M, expenses of $2.8M, and assets of $3.7M (revenue -0.2% year-over-year).
- 2020: Revenue of $2.9M, expenses of $2.9M, and assets of $3.2M (revenue +7.6% year-over-year).
- 2019: Revenue of $2.7M, expenses of $2.7M, and assets of $1.4M (revenue +6.8% year-over-year).
- 2018: Revenue of $2.6M, expenses of $2.5M, and assets of $1.3M (revenue -2.9% year-over-year).
- 2017: Revenue of $2.6M, expenses of $2.8M, and assets of $1.2M (revenue -8.9% year-over-year).
- 2016: Revenue of $2.9M, expenses of $2.9M, and assets of $1.4M (revenue -12.3% year-over-year).
- 2015: Revenue of $3.3M, expenses of $2.9M, and assets of $1.5M (revenue +27.3% year-over-year).
- 2014: Revenue of $2.6M, expenses of $2.7M, and assets of $1.1M (revenue -10.9% year-over-year).
- 2013: Revenue of $2.9M, expenses of $2.6M, and assets of $1.2M (revenue -2.9% year-over-year).
- 2012: Revenue of $3.0M, expenses of $2.7M, and assets of $948K (revenue +29.2% year-over-year).
- 2011: Revenue of $2.3M, expenses of $2.7M, and assets of $813K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Economic Development Corp Of Utah:
Data Sources and Methodology
This transparency report for Economic Development Corp Of Utah is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.