EIN 45-5465651

Afforda

IRS 501(c) type
501(c)(3)
Num. employees
3
State
Year formed
2012
Most recent tax filings
2023-12-01
Description
Afforda enhances affordable housing in Utah through flexible financing, empowering developers and supporting low-income families while stabilizing neighborhoods and fostering community growth.
Also known as...
Utah Center for Neighborhood Stabilization
Total revenues
$1,524,718
2023
20192020202120222023$0$2m
Total expenses
$911,269
2023
20192020202120222023$0$0.4m$0.8m
Total assets
$33,671,429
2023
20192020202120222023$20m$30m$40m
Num. employees
3
2023
2019202020212022202304

Program areas at Afforda

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 equal to or 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 will be 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, 2023, four transit-oriented development loans were issued and outstanding for a total of $6,074,612. Of that total, $2,625,153 of the $7,000,000 top loss was committed for the four transit-oriented development projects.
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.
Afforda, through its subsidiary organizations provides single family and multi-family affordable housing, neighborhood revitalization, and small business lending and investing.

Who funds Afforda

Grants from foundations and other nonprofits
GrantmakerDescriptionAmount
AmazonSmile FoundationGeneral Support$86

Personnel at Afforda

NameTitleCompensation
Amy ThorntonChief Operating Officer$151,049
Eli WillisChief Financial Officer
Dan AdamsExecutive Director$237,969
Todd BorenTreasurer$0
Jonathan HanksFormer Chairman$0
...and 3 more key personnel

Financials for Afforda

RevenuesFYE 12/2023
Total grants, contributions, etc.$91,018
Program services$886,965
Investment income and dividends$475,315
Tax-exempt bond proceeds$0
Royalty revenue$0
Net rental income$0
Net gain from sale of non-inventory assets$71,420
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous revenues$0
Total revenues$1,524,718

Form 990s for Afforda

Fiscal year endingDate received by IRSFormPDF link
2023-122024-10-02990View PDF
2022-122023-10-04990View PDF
2021-122022-09-21990View PDF
2020-122021-11-15990View PDF
2019-122021-03-02990View PDF
...and 7 more Form 990s
Data update history
November 28, 2023
Posted financials
Added Form 990 for fiscal year 2022
November 26, 2023
Used new vendors
Identified 1 new vendor, including
July 1, 2023
Posted financials
Added Form 990 for fiscal year 2020
June 10, 2023
Posted financials
Added Form 990 for fiscal year 2021
May 22, 2023
Updated personnel
Identified 3 new personnel
Nonprofit Types
Housing and shelter organizationsHeadquarter / parent organizationsCharities
Issues
Human servicesHousing
Characteristics
State / local levelTax deductible donationsAccepts online donations
General information
Address
6880 S 700 W 2nd FL
Midvale, UT 84047
Metro area
Salt Lake City, UT
County
Salt Lake County, UT
Website URL
affordautah.org/ 
Phone
(801) 316-9111
IRS details
EIN
45-5465651
Fiscal year end
December
Taxreturn type
Form 990
Year formed
2012
Eligible to receive tax-deductible contributions (Pub 78)
Yes
Categorization
NTEE code, primary
L80: Housing Support Services
NAICS code, primary
62422: Community Housing Services
Parent/child status
Central organization
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