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Silicon Slopes Commons FY2020 filing

Not tax-deductible

Lehi, UT501(c)(6)EIN 87-0482975Revenue $183K in FY2020

On file with the IRSutahtech.org2600 W Executive Pkwy Ste 140, 84048-3988 · Lehi, UTTax-exempt since Apr 1991

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The mission of utc is to promote the growth of utah's information & technology industry. Utc serves its members in several ways including: CEO roundtables, hall of fame events, internet technology summits, and industry luncheons.

$111K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Pay: Part VII

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(6)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2023
latest Form 990
Fine: the latest return is for FY2023, 3 tax years back; within 3 tax years.
IRS e-file · Filing history
Surplus or deficit
0 of 2
filings with a surplus
Average deficit $101K a year · 73% of revenue · last 2 filings
Concern: a surplus in 0 of the last 2 filings.
Pt I · Ln 19 · 2 filings
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$111K
to officers and key staff · 49% of spending
Concern: pay to officers and key staff is 49% of spending; over 30%.
Pt VII · Sec A
Cash reserves
2 mo
of spending, in cash
Fine: 2.5 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$122K
173% of total assets
Concern: liabilities are 173% of assets; over 80%.
Pt X · Ln 26
Independent board members
13
of 13 voting members
Looks good: 13 of 13 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$183K
Spent
$228K
To programs
0%
Net assets
−$52K
By yearFY2020–FY2023
Revenue
$183K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$183K
FY2021$92K
FY2022$51K
FY2023Not on file
Expenses
$228K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$228K
FY2021$248K
FY2022Not on file
FY2023Not on file
Net assets
−$52K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020−$52K
FY2021−$208K
FY2022−$175K
FY2023−$181K

From the FY2020 Form 990 · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2023) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2023. IRS ruling in Apr 1991.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

14 people listed on the 990; $111K paid to officers and key staff.

Part VII, Section A · reportable compensation
Elizabeth Converse
Dir. of Oper
$111,327Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Josh James
Trustee
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Clint Betts
Exec. Direct
$0Pt VII · Sec A

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2022FY2021FY2020
Elizabeth Converse$9,135$124,951$111,327

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Silicon Slopes Commons executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Promotes Utah's tech industry growth through events and networking for members.

Provided by the organization

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3 programs · in their own filed words · FY2020
01

The utc hall of fame honors individuals with utah ties that have made significant impacts to the technology industry. The meeting encourages utc members to be more active in improving the technology industry within utah through increased capital, management talent, and improved business enviroment.

Pt IX · col B
02

Executive P2P forums are held throughout the year with ceo's and executives from the information technology industry. The forums provide feedback that will increase the technology business environment in utah. There are approximately 32 P2P forums held throughout the year.

Pt IX · col B
03

Educational and other networking events.

Pt IX · col B

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$183K
Ln 12
Fees for servicesLn 2g$183K
Money outPt IX
$228K
Ln 25
Owns and owesPt X
−$52K
net assets · Ln 32
Cash and savingsLn 1–2$48K
Total assetsLn 16$71K
LiabilitiesLn 26$122K
PeoplePt VI, VII
14
listed · VII A
PaidVII A1
Voting boardVI 1a13
IndependentVI 1b13
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$183K
Total revenueLn 12$183K
Assets in detailPt X, end of year
SavingsLn 2$48K
Cash and savings togetherLn 1–2$48K
Land, buildings, equipmentLn 10c$21K
Total assetsLn 16$71K
LiabilitiesLn 26$122K
Net assetsLn 32−$52K
OperationsPt I, VI
EmployeesI 51
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$68K$48K
Land, buildings, equipmentLn 10c$31K$21K
Total assetsLn 16$99K$71K
LiabilitiesLn 26$106K$122K
Net assetsLn 32−$7K−$52K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$111K
Other salaries and wagesLn 7$26K
Pension plan contributionsLn 8$5K
Other employee benefitsLn 9$19K
Payroll taxesLn 10$12K
Accounting feesLn 11c$4K
Other fees for servicesLn 11g$18K
Advertising and promotionLn 12$4K
Office expensesLn 13$3K
Information technologyLn 14$5K
TravelLn 17$820
Depreciation, depletion and amortizationLn 22$10K
InsuranceLn 23$3K
Other expenses (24a–d)Ln 24$7K
Total functional expensesLn 25$228K$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2023 Latest −$181K 990 PDF
FY2022 $51K−$175K 990 PDF
FY2021 $92K$248K−$156K−$208K 990 PDF
FY2020 Viewing $183K$228K−$45K−$52K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2020 990 (6 parts)
Part I · Summary $183,002 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $798,603$183,002
I-10 Investment incomePrior year $1,171$0
I-11 Other revenue$0
I-12 Total revenuePrior year $799,774$183,002
I-13 Grants and similar amounts paidPrior year $1,480$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $498,140$173,838
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $354,952$53,745
I-18 Total expensesPrior year $854,572$227,583
I-19 Revenue less expensesPrior year −$54,798−$44,581
Part VI · Governance 13 of 13 board members independent, 2 to look at
VI-1a Voting members of the governing body13
VI-1b Independent voting members13
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $183,002 across 2 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $183,002$183,002
VIII-12 Total revenueRelated to mission $183,002$183,002
Part IX · Statement of functional expenses $227,583 across 14 lines filed
IX-5 Pay of current officers, directors and key staff$111,327
IX-7 Other salaries and wages$26,423
IX-8 Pension plan contributions$5,430
IX-9 Other employee benefits$19,124
IX-10 Payroll taxes$11,534
IX-11c Accounting fees$3,862
IX-11g Other fees for services$18,081
IX-12 Advertising and promotion$3,930
IX-13 Office expenses$3,332
IX-14 Information technology$4,612
IX-17 Travel$820
IX-22 Depreciation, depletion and amortization$9,966
IX-23 Insurance$2,633
IX-24 Other expenses (24a–d)$6,509
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$227,583
Part X · Balance sheet $70,573 assets, 11 lines filed
X-2 Savings and temporary cash investmentsStart of year $67,995$47,690
X-9 Prepaid expenses and deferred charges$1,943
X-10c Land, buildings and equipment, netStart of year $30,905$20,940
X-16 Total assetsStart of year $98,900$70,573
X-17 Accounts payable and accrued expensesStart of year $7,873$769
X-19 Deferred revenueStart of year $98,092$71,450
X-25 Other liabilities$50,000
X-26 Total liabilitiesStart of year $105,965$122,219
X-27 Net assets without donor restrictionsStart of year −$7,065−$51,646
X-32 Total net assets or fund balancesStart of year −$7,065−$51,646
X-33 Total liabilities and net assetsStart of year $98,900$70,573
Part XI · Reconciliation of net assets −$51,646 net assets at year end
XI-1 Total revenue$183,002
XI-2 Total expenses$227,583
XI-3 Revenue less expenses−$44,581
XI-4 Net assets at start of year−$7,065
XI-10 Net assets at end of year−$51,646

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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