2025-09-22T13:37:26-05:00 2024-12-31 450250958 EIDE BAILLY LLP 5 TRIAD CENTER STE 600 SALT LAKE CITY UT 841801106 990 2024-01-01 455465651 AFFORDA UTAH 8013169111 6880 S 700 W 2ND FL MIDVALE UT 84047 ELI J WILLIS CHIEF FINANCIAL OFFICER 8013169111 2025-09-18 1 1 KYLE FRITCH CPA P01313374 8015322200 2025-09-18 2024 2025-03-06 01:10:19Z DANIEL ADAMS 6880 S 700 W 2ND FL MIDVALE UT 84047 2504696 0 X AFFORDAUTAH.ORG X 2012 UT FACILITATING OPPORTUNITIES AND INNOVATIVE SOLUTIONS TO STRENGTHEN COMMUNITIES AND NEIGHBORHOODS 11 11 4 14 0 0 91018 65476 886965 1532284 546735 906936 0 0 1524718 2504696 0 0 0 0 321169 353059 0 0 0 590100 1207493 911269 1560552 613449 944144 33671429 54221445 11382437 31602574 22288992 22618871 X AFFORDA STABILIZES NEIGHBORHOODS THROUGH ITS SUBSIDIARY ORGANIZATIONS BY PROVIDING SINGLE FAMILY AND MULTI-FAMILY AFFORDABLE HOUSING, NEIGHBORHOOD REVITALIZATION, AND SMALL BUSINESS LENDING AND INVESTING. AFFORDA SERVES AS AN UMBRELLA OR PARENT ORGANIZATION FOR SEVERAL ENTITIES WITH THE SAME BOARD OF DIRECTORS AND MANAGEMENT TEAM. 0 0 1122324 1343487 THE UTAH EQUITABLE TRANSIT ORIENTED DEVELOPMENT LOANS (UETOD) IS A STRUCTURED $35 MILLION REVOLVING LOAN FUND. THE LOAN FUND PROVIDES FLEXIBLE SHORT-TERM FINANCING FOR DEVELOPERS TO PURCHASE AND/OR DEVELOP TRANSIT ORIENTED AFFORDABLE HOUSING NEAR PUBLIC TRANSPORTATION THROUGHOUT THE WASATCH FRONT. ALL HOUSING UNITS FINANCED BY THE UETOD WILL BE DESIGNATED FOR RESIDENTS WITH HOUSEHOLD INCOME LESS THAN 80% OF AREA MEDIAN INCOME (AMI). FOR RENTAL PROJECTS, AT LEAST 60% OF THE TOTAL UNITS WILL BE FOR RESIDENTS AT 60% AMI OR BELOW. IN ADDITION, THE FUND WILL ENSURE THAT ALL RENTAL UNITS/HOMES MEET THE ABOVE AFFORDABILITY REQUIREMENTS.BOTH NON-PROFIT AND FOR-PROFIT DEVELOPERS ARE ABLE TO ACCESS THE FUND'S RESOURCES. THE FUND PROVIDES AN ACQUISITION AND PREDEVELOPMENT SOURCE OF CAPITAL TO ALLOW DEVELOPERS TO SECURE KEY PROPERTIES, AND CONSTRUCTION FINANCING FOR THESE SAME PROJECTS. WHEREAS SOME GEOGRAPHIES MAY HAVE A GREATER NEED TO TARGET A LOWER AMI, OTHER AREAS HAVE ALREADY ESTABLISHED ENOUGH HOUSING TO ACCOMMODATE THE DEEPER TARGETS AND ARE LOOKING TO BRING MORE MARKET RATE UNITS TO THE AREA.AS OF DECEMBER 31, 2024, FOUR TRANSIT-ORIENTED DEVELOPMENT LOANS WERE ISSUED AND OUTSTANDING FOR A TOTAL OF $26,737,966. OF THAT TOTAL, $9,093,605 OF THE $10,500,000 TOP LOSS WAS COMMITTED FOR THE FOUR TRANSIT-ORIENTED DEVELOPMENT PROJECTS. AFFORDABLE UNITS PROVIDED BY THE UETOD PROGRAM HAVE IMPACTED AN ESTIMATED 6,836 PEOPLE. 60307 176758 AFFORDA, THROUGH ITS SUBSIDIARY ORGANIZATIONS PROVIDES SINGLE FAMILY AND MULTI-FAMILY AFFORDABLE HOUSING AND NEIGHBORHOOD REVITALIZATION. 2492 12039 UTAH SMALL BUSINESS GROWTH INITIATIVE (USBGI) IS A LIMITED LIABILITY COMPANY ORGANIZED IN THE STATE OF UTAH ON JUNE 11, 2012 FOR THE PURPOSE OF CREATING JOBS AND STABILIZING UTAH'S NEIGHBORHOODS BY PROVIDING GROWING BUSINESSES WITH ACCESS TO CAPITAL. USBGI'S PROGRAM SERVICES INCLUDE, A) PROVIDING EARLY STAGE INVESTMENT CAPITAL, B) FACILITATING LOAN GUARANTEES TO SMALL BUSINESSES BETWEEN FINANCIAL INSTITUTIONS AND THE STATE OF UTAH, AND C) PARTICIPATING IN LOANS ALONGSIDE OTHER FINANCIAL INSTITUTIONS. TO DATE, USBGI HAS BEEN ABLE TO LEVERAGE APPROXIMATELY $8.5 MILLION IN FUNDS TO GIVE SMALL BUSINESSES ACCESS TO APPROXIMATELY $50 MILLION IN CAPITAL TO HELP GROW THEIR BUSINESSES. THAT CAPITAL WAS REPORTED TO HAVE HELPED TO CREATE APPROXIMATELY 550 JOBS AND RETAIN APPROXIMATELY 1,800 JOBS. CAPITAL HAS BEEN MADE AVAILABLE TO WOMEN-OWNED AND MINORITY-OWNED BUSINESSES IN LOW-INCOME AND RURAL AREAS. USBGI IS A WHOLLY-OWNED SUBSIDIARY OF THE NONPROFIT AFFORDA. AFFORDA SERVES AS AN UMBRELLA ORGANIZATION FOR SEVERAL DIFFERENT ENTITIES IN ADDITION TO USBGI. 1185123 1 1 0 0 0 0 0 0 0 0 1 0 1 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 1 0 0 0 0 1 1 1 1 0 0 1 1 0 1 4 1 0 0 0 0 0 0 0 0 0 0 0 0 X 11 11 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 1 1 0 0 UT X DANIEL ADAMS 8013169111 6880 S 700 W 2ND FL MIDVALE UT 84047 KIMBERLY CHYTRAUS CHAIRMAN 1.00 2.00 X X 0 0 0 LEE DIAL VICE CHAIRMAN 1.00 2.00 X X 0 0 0 MISSY KEY TREASURER 1.00 2.00 X X 0 0 0 KISTY MORRIS FORMER CHAIRMAN 1.00 2.00 X X 0 0 0 TOM CHRISTOPULOS BOARD MEMBER 1.00 2.00 X 0 0 0 JOHN RICHARDS BOARD MEMBER 1.00 2.00 X 0 0 0 CLAUDIA O'GRADY BOARD MEMBER 1.00 2.00 X 0 0 0 STEPHEN NELSON BOARD MEMBER 1.00 2.00 X 0 0 0 DANNY SHIN BOARD MEMBER 1.00 2.00 X 0 0 0 SHARLENE WILDE BOARD MEMBER 1.00 2.00 X 0 0 0 JAKE WOOD BOARD MEMBER 1.00 2.00 X 0 0 0 DANIEL ADAMS EXECUTIVE DIRECTOR 13.34 26.66 X 247500 0 33346 AMY THORNTON CHIEF OPERATING OFFICER 13.34 26.66 X 164795 0 28124 ELI WILLIS CHIEF FINANCIAL OFFICER 13.34 26.66 X 0 0 0 LUANN SPANGENBERG LENDING MANAGER 25.00 2.00 X 111240 0 0 523535 0 61470 3 0 1 0 ICFO LLC 615 SOUTH 175 WEST LAYTON UT 84041 ACCOUNTING SERVICES 185583 1 65476 65476 INTEREST INCOME FROM N 900099 1343945 1343945 LOAN FEES 900099 188339 188339 1532284 733936 733936 173000 0 173000 173000 173000 2504696 1532284 0 906936 X 240963 110865 130098 88583 62211 26372 536 536 5744 5744 17233 8576 8657 205204 48781 156423 12731 3369 9362 27640 18553 9087 4555 1712 2843 902742 902742 8543 6834 1709 12206 8193 4013 DUES & SUBSCRIPTIONS 16310 10849 5461 BOARD EXPENSES 1159 0 1159 16403 2438 13965 1560552 1185123 375429 0 6097034 10488640 4985293 5098737 82535 68885 134374 454639 10748394 26845971 4605 113 38434 32216 14761 6218 6467849 6647314 5122314 4562118 14270 48810 33671429 54221445 772273 2084106 3073800 20215532 7536364 9302936 11382437 31602574 X 14867668 14947165 7421324 7671706 22288992 22618871 33671429 54221445 944144 -614265 0 X 0 1 X 1 0 X 50084 226103 60642 91018 65476 493323 50084 226103 60642 91018 65476 493323 12223 481100 68408 86337 105634 475315 733936 1469630 1962953 3969995 0.24510 0.67470 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 38434 32216 6218 6218 VENTURE CAPITAL INVESTMENTS 4562118 F 4562118 ADVANCES PAYABLE TO AFFILIATED NONPROFIT ORGANIZATIONS 9302936 9302936 X 1890431 -614265 -614265 2504696 0 2504696 1560552 0 1560552 0 1560552 PART X, LINE 2: AFFORDA BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN AFFECTING ITS ANNUAL FILING REQUIREMENTS AND, AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE CONSOLIDATED FINANCIAL STATEMENTS. AFFORDA WOULD RECOGNIZE FUTURE ACCRUED INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS AND LIABILITIES IN INCOME TAX EXPENSE IF SUCH INTEREST AND PENALTIES ARE INCURRED. 1 X X X X 0 0 0 0 0 0 0 1 0 DANIEL ADAMS EXECUTIVE DIRECTOR 225000 0 22500 0 0 0 6750 0 27043 0 281293 0 0 0 AMY THORNTON CHIEF OPERATING OFFICER 143300 0 21495 0 0 0 4299 0 24272 0 193366 0 0 0 PART I, LINE 7 THE ORGANIZATION ANNUALLY REVIEWS THE PERFORMANCES OF THE EXECUTIVE STAFF AND OTHER STAFF TO DETERMINE IF ADDITIONAL COMPENSATION IN THE FORM OF BONUSES WILL BE PAID. DURING CALENDAR YEAR ENDING DECEMBER 31, 2024, BONUSES WERE AWARDED BASED ON REVIEW OF EACH INDIVIDUAL'S PERFORMANCE AND SERVICES TO THE ORGANIZATION. ICFO OFFICER OWNS MORE THAN 35% OF THE ENTITY 185583 CHIEF FINANCIAL OFFICER'S SERVICES 0 FORM 990, PART VI, SECTION B, LINE 11B THE BOARD OF DIRECTORS REVIEW THE FORM 990 BEFORE IT IS FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C IF THE GOVERNING BOARD OR COMMITTEE HAS REASONABLE CAUSE TO BELIEVE A MEMBER HAS FAILED TO DISCLOSE ACTUAL OR POSSIBLE CONFLICTS OF INTEREST, IT SHALL INFORM THE MEMBER OF THE BASIS FOR SUCH BELIEF AND AFFORD THE MEMBER AN OPPORTUNITY TO EXPLAIN THE ALLEGED FAILURE TO DISCLOSE. IF, AFTER HEARING THE MEMBER'S RESPONSE AND AFTER MAKING FURTHER INVESTIGATION AS WARRANTED BY THE CIRCUMSTANCES, THE GOVERNING BOARD OR COMMITTEE DETERMINES THE MEMBER HAS FAILED TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, IT SHALL TAKE APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION. FORM 990, PART VI, SECTION B, LINE 15A THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS FOR AFFORDA (F/K/A UTAH CENTER FOR NEIGHBORHOOD STABILIZATION) SERVES AS THE COMPENSATION COMMITTEE. THE COMPENSATION COMMITTEE PERFORMS AN ANNUAL COMPENSATION REVIEW FOR THE EXECUTIVE DIRECTOR THROUGH AN ANNUAL MARKET ANALYSIS WHICH INCLUDES REVIEW OF COMPARABILITY DATA, TO DETERMINE COMPENSATION AMOUNTS. THE SAME PROCESS USED BY THE COMPENSATION COMMITTEE IS USED BY THE EXECUTIVE DIRECTOR TO DETERMINE THE COMPENSATION AMOUNTS FOR THE CHIEF OPERATING OFFICER AND CHIEF FINANCIAL OFFICER. FORM 990, PART VI, SECTION C, LINE 19 AVAILABLE UPON REQUEST. FORM 990, PART IX, LINE 11G OTHER PROFESSIONAL: PROGRAM SERVICE EXPENSES 48,781. MANAGEMENT AND GENERAL EXPENSES 156,423. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 205,204. FORM 990, PART VII AND 990 PART IX, LINE 5: COMPENSATION AND BENEFITS REPORTED ON FORM 990, PART IX, LINE 5 DO NOT TIE IN TOTAL TO WHAT IS REPORTED ON FORM 990, PART VII. THE DIFFERENCE IN REPORTING RELATES TO INTERCOMPANY TRANSACTIONS AND REPORTING BETWEEN THE ORGANIZATION AND ITS RELATED ENTITIES. UTAH SMALL BUSINESS GROWTH INITIATIVE 6880 SOUTH 700 WEST 2ND FLOOR MIDVALE UT 84047 455468947 SMALL BUSINESS LENDING UT -448260 6449470 AFFORDA UTAH EQUITABLE TOD FUND LLC 6880 SOUTH 700 WEST 2ND FLOOR MIDVALE UT 84047 474225964 TRANSIT ORIENTED DEVELOPMENT UT 1963608 32223503 AFFORDA UTAH CENTER FOR AFFORDABLE HOUSING 6880 S 700 W 2ND FLOOR MIDVALE UT 84047 270173489 REAL ESTATE UT 501(C)(3) LINE 10 AFFORDA 0 HOUSING PLUS 6880 S 700 W 2ND FLOOR MIDVALE UT 84047 273541853 REAL ESTATE UT 501(C)(3) LINE 10 AFFORDA 0 CANYON CROSSING PROJECT INC 6880 S 700 W 2ND FLOOR MIDVALE UT 84047 800906028 REAL ESTATE UT N/A C 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 1 0 1 0 0 HOUSING PLUS D 4952778 OUTSTANDING BALANCE RECEIVABLE HOUSING PLUS Q 200988 REIMBURSED PAYROLL EXPENSES HOUSING PLUS Q 110131 REIMBURSED OTHER EXPENSES UTAH CENTER FOR AFFORDABLE HOUSING Q 166662 REIMBURSED PAYROLL EXPENSES UTAH CENTER FOR AFFORDABLE HOUSING Q 103239 REIMBURSED OTHER EXPENSES