SUAZO BUSINESS CENTER

SALT LAKE CITY, UT | Salt Lake County
Economic Development
SUAZO BUSINESS CENTER
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As of , this nonprofit no longer meets findCRA's qualification requirements and will no longer appear in CQ search results.

Reason for disqualification:

Overview

SUAZO BUSINESS CENTER
04-3693364
960 W 1700 S
SALT LAKE CITY, UT 84104
Salt Lake County
(801) 521-1709

frontdesk@suazocenter.org
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Mission Statement info

SUAZO BUSINESS CENTER IS A BUSINESS RESOURCE COMMITTED TO THE DEVELOPMENT AND EMPOWERMENT OF THE LATINO AND OTHER UNDERSERVED COMMUNITIES. SUAZO BUSINESS CENTER PROVIDES TRAINING, ADVISING, AND RESOURCES TO BREAK CYCLES OF POVERTY, BUILD WEALTH, AND PROMOTE ECONOMIC SELF-RELIANCE.

CRA Category info
  • Economic Development
Nonprofit location info
  • LMI Census Tract
  • Majority Minority Census Tract
Awards & Certifications info
  • CDFI Organization
Founded info
2002
Total Employees info
14
Total Volunteers info
5
Nonprofit Classification (NTEE Code) info
P84

P - Human Services

Ethnic & Immigrant Centers

Organizations that provide or coordinate a wide variety of programs and services that are structured to meet the social, educational, economic, recreational and other needs of specific ethnic and/or immigrant groups in ways that are culturally appropriate.

IRS Activity Codes info
-
Not reported
-
Not reported
-
Not reported
Standard Business Classification (NAICS Code) info
624190
Other Individual and Family Services
Targeted Clients info
  • Economically Disadvantaged
  • Entrepreneurs
  • Minority Individuals
  • Minority-Owned Businesses
  • Small Businesses
  • Underbanked or Unbanked
CRA Income Characteristics info
  • Low-Income
  • Moderate-Income
  • People Living Below Poverty Level

CRA Alignment

CRA Category info
Economic Development
Workforce development, job training, and small business or startup support.
96%
Percent LMI Served info
as reported by the nonprofit
What does it mean for a nonprofit to be CRA aligned?
Each nonprofit on Community Qualifier has been reviewed by findCRA utilizing a dual evaluation process. Nonprofits are first evaluated by our proprietary algorithm, CRANIA, and then further validated by our CRA experts. When nonprofit passes both parts of this review, we create a nonprofit profile for them on Community Qualifier. From there, a nonprofit can claim their profile and add additional information including their programs & services, counties served, targeted clients and income groups and more.
LOWHIGH
LOWHIGH
LOWHIGH
LOWHIGH
Programs & Services info
Business Education
Suazo Business Center's Education program curriculum includes three tracks; Beginning, Intermediate, and Advanced. The intention is to train entrepreneurs and budding business-people from the very basics of family budgeting to social media marketing and advanced QuickBooks. Our courses are available in Spanish with select programs available in English.
Targeted Clients info
  • Economically Disadvantaged
  • Entrepreneurs
  • Minority Individuals
  • Minority-Owned Businesses
  • Underbanked or Unbanked
  • Women-Owned Businesses
CRA Income Characteristics info
  • Low-Income
  • Moderate-Income
  • People Living Below Poverty Level
Individual Mentoring
We focus on the individual, recognizing when a person is lifted, he / she has the potential to lift others around them. Our mentors are all business owners and professionals within their respective fields, and many have post graduate degrees. Our mentoring program is available in English, Spanish, and Portuguese.
Targeted Clients info
  • Economically Disadvantaged
  • Entrepreneurs
  • Minority Individuals
  • Minority-Owned Businesses
  • Underbanked or Unbanked
  • Women-Owned Businesses
CRA Income Characteristics info
  • Low-Income
  • Moderate-Income
  • People Living Below Poverty Level
Outreach Workshops
Our third pillar is one through which we go out into the community to speak directly to our constituents. Most workshop attendees are members of the community who have interest in setting up or expanding their businesses, or they are individuals with specific needs who may benefit from niche workshops, such as when we have offered assistance in Google Suite preparation and functioning.
Targeted Clients info
  • Economically Disadvantaged
  • Entrepreneurs
  • Minority Individuals
  • Minority-Owned Businesses
  • Underbanked or Unbanked
  • Women-Owned Businesses
CRA Income Characteristics info
  • Low-Income
  • Moderate-Income
  • People Living Below Poverty Level
Access to Capital
Access to capital is one of the largest barriers to success for minority owned businesses. Since 2007, the Suazo Business Center's Access to Capital program is designed to minimize those barriers. We are a Community Development Financial Institution (CDFI) which is a designation by the US Department of the Treasury allowing us to better serve our community. There are only 6 CDFIs in Utah, only 2 that work in business lending, and the Suazo Center is the only one certified as a Latino Serving Institution.
Targeted Clients info
  • Economically Disadvantaged
  • Entrepreneurs
  • Minority Individuals
  • Minority-Owned Businesses
  • Underbanked or Unbanked
  • women-owned-businesses
CRA Income Characteristics info
  • Low-Income
  • Moderate-Income
  • People Living Below Poverty Level
Awards & Certifications info
Community Development Financial Institution info
Date Certified info
06/08/2023
Native American CDFI info
N
Financial Institution Type info
Loan Fund
Community Development Financial Institution Award Recipient info
New Market Tax Credit Recipient info
HUD Counseling Agency info
Low Income Housing Tax Credit Recipient info

IRS Summary

Income
$1.5M
Revenue
$1.5M
Assets
$1.4M

IRS Business Master File Details info

As of August 2024
Exempt Ruling Date info
2002-12
Deductibility Status info
Deductible
Last Tax Filing info
2023
Organization Type info
Corporation
Organization Tax Filing Status info
990 (all other) or 990EZ return
Foundation Tax Filing Status info
990-PF not required by IRS
Affiliation Classification info
Independent Organization
Basis for Foundation/Public Charity Status info
Organization which receives a substantial part of its support from a governmental unit or the general public 170(b)(1)(A)(vi)

IRS Publication 78 Details info

As of August 2024
Verified in Publication 78 info
Yes
Deductibility Limitation info
50% (60% for cash contributions)
Organization Description info
A public charity

IRS Form 990 Returns info

Through August 2023
Tax period ending in
2022-09
E-File
990
XML
990
Tax period ending in
2021-09
PDF
990
E-File
990
XML
990
Tax period ending in
2020-09
PDF
990
E-File
990
XML
990
Tax period ending in
2019-09
PDF
990
E-File
990
XML
990
Tax period ending in
2018-09
PDF
990
Tax period ending in
2017-09
E-File
990
XML
990
Tax period ending in
2016-09
E-File
990
XML
990

Nonprofit Location

Physical Address info
960 W 1700 S
SALT LAKE CITY, UT 84104
Salt Lake County
Area Type info
Metropolitan Statistical Area
FIPS Geocoded Address info
41620
MSA/MD info
49
State info
035
County info
1028.02
Tract info
Moderate
Income Level info
Core-Based Statistical Area info
41620 - Salt Lake City, UT
Combined Statistical Area info
482 - Salt Lake City-Provo-Orem, UT
Metropolitan Division info
Not located in an MD.
Located In info
Low- or Moderate-Income Census Tract info
Opportunity Zone info
Majority Minority Census Tract info 70.95%
FFIEC Designated Distressed Census Tract info
FFIEC Underserved Census Tract info
Geographies Served info
  • UT - All Counties

Market Data

Census Tract County
1028.02 Salt Lake County
Population
Total Population 4,888 1,180,643
Total Households 1,297 407,673
Income
Median Family Income (Census*) $63,233 $90,011
Median Family Income (2023 FFIEC est.) $106,300 $115,400
Tract Income Percentage 69.97% N/A
Below Poverty Level 17.9% 8.1%
Unemployment Level 6.2% 3.6%
Housing
Total Housing Units 1,353 430,705
Total Owner-Occupied Units 41.2% 67.1%
Total Renter-Occupied Units 54.7% 32.9%
Total Vacant Units 4.1% 6.4%
* Census tract income based on 2020 American Community Survey data as reported in the 2023 FFIEC Census Flat File; County income based on 2022 American Community Survey data.
View more than 200 performance context data points for this county now.

Management

12
Total Voting Members
in Governing Body info
12
Independent Voting Members
in Governing Body info
Tax Filing Signatory info
Silvia Castro
(801) 521-1709
Principal Officer info
Silvia Castro
findCRA Profile Owner
Edward Bennett
Director of Business Development
edward@suazocenter.org
Key Policies & Documents info
Written Conflict of Interest Policy
Written Document Retention & Destruction Policy
Written Whistleblower Policy
CEO Compensation Review Process
Written Minutes of Board Meetings
Financial Statements & Reporting info
Compiled or Reviewed by an Independent Accountant
Audited by an Independent Accountant
Included in Consolidated Financial Statements
Internal Audit Committee Review
Federal Grant Audit Required
Federal Grand Audit Performed
Organization Activities info
Provides Credit Counseling
Conducts Gaming Activities
Engages in Lobbying Activities
Engages in Political Activities
Makes Grants to Individuals
Makes Grants to Organizations

Information in this section is extracted from the nonprofit's e-filed tax return and based on answers provided by the nonprofit in their 990 e-filed for the tax period ending on 2022-09.

A hyphen (“-“) in this section indicates that the information was not required by the IRS or not reported by the nonprofit in its tax return e-filing.

This Nonprofit Profile was created using data available from publicly available government and industry sources, our own research, and information provided directly the nonprofit organization. Whenever possible, we utilize the most recent information available including information as made public by the Internal Revenue Service, U.S. Census Bureau, Federal Financial Institutions Examination Council, and more. The format and design of this Nonprofit Profile is ©findCRA. For more information about our Nonprofit Profiles, please visit help.findcra.com.