2023-11-15T16:17:08-06:00 2022-12-31 450250958 EIDE BAILLY LLP 5929 FASHION POINT DR STE 300 OGDEN UT 844034684 990 2022-01-01 753146492 UTAH CAPITAL INVESTMENT CORP UTAH 8014327667 6465 SOUTH 3000 EAST SUITE 105 SALT LAKE CITY UT 84121 KIRT SLAUGH ACTING DIRECTOR 8014327667 2023-11-15 1 KIRT SLAUGH 999009999 1 CHETT CAMPBELL CPA P01301037 8016211575 2023-11-13 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z KIRT SLAUGH 6465 SOUTH 3000 EAST SUITE 105 SALT LAKE CITY UT 84121 601896 0 X N/A X 2004 UT TO PROVIDE ECONOMIC STIMULUS FOR UTAH BUSINESSES BY ORGANIZING AND ACTING AS THE MANAGING MEMBER OF THE UTAH FUND OF FUNDS, LLC (EIN: 11-3775457). THE FUND IS A STATE OF UTAH ECONOMIC DEVELOPMENT PROGRAM AIMED AT PROVIDING ACCESS TO ALTERNATIVE OR NON-TRADITIONAL CAPITAL TO UTAH ENTERPRENEURS. 4 4 2 3 -10531 0 0 0 0 0 13656739 -67348 20991 7288 13677730 -60060 0 15000000 0 0 362811 340038 0 0 0 970120 875238 1332931 16215276 12344799 -16275336 78739556 52694225 29421 29200 78710135 52665025 X TO PROVIDE ECONOMIC STIMULUS FOR UTAH BUSINESSES BY ORGANIZING AND ACTING AS THE MANAGING MEMBER OF THE UTAH FUND OF FUNDS, LLC (EIN: 11-3775457). THE FUND IS A STATE OF UTAH ECONOMIC DEVELOPMENT PROGRAM AIMED AT PROVIDING ACCESS TO ALTERNATIVE OR NON-TRADITIONAL CAPITAL TO UTAH ENTERPRENEURS. 0 0 15920520 15000000 UTAH CAPITAL INVESTMENT CORP WAS ESTABLISHED FOR THE MANAGEMENT OF THE UTAH FUND OF FUNDS, LLC (EIN: 11-3775457).UFOF IS A LIMITED LIABILITY COMPANY ORGANIZED UNDER THE LAWS OF THE STATE OF UTAH. UFOF COMMENCED OPERATIONS ON MARCH 16, 2006. UFOF IS A STATE OF UTAH ECONOMIC DEVELOPMENT PROGRAM AIMED AT PROVIDING ACCESS TO ALTERNATIVE OR NON-TRADITIONAL CAPITAL BY UTAH ENTREPRENEURS. IT DOES NOT INVEST MONEY INTO ANY COMPANY OR INDIVIDUAL BUT RATHER INVESTS IN VENTURE CAPITAL AND PRIVATE EQUITY FUNDS THAT COMMIT TO ESTABLISHING A WORKING RELATIONSHIP WITH THE FUND AND WITH UTAH'S START-UP AND BUSINESS COMMUNITY, AND MAKING INVESTMENTS IN QUALIFIED COMPANIES. UFOF INVESTS IN VENTURE CAPITAL AND PRIVATE EQUITY FUNDS LOCATED BOTH IN UTAH AND OUTSIDE OF UTAH. AS OF DECEMBER 31, 2021 UFOF'S PORTFOLIO OF FUNDS HAD 28 INVESTMENTS. 15920520 1 0 0 1 0 0 0 0 0 0 0 1 0 0 0 1 0 1 0 0 1 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 5 0 1 2 1 0 0 0 0 0 0 0 0 0 0 0 0 X 4 4 0 0 0 0 0 1 0 1 0 0 0 0 1 1 1 0 0 1 1 1 1 UT X MCKENZIE MURPHEY 8016554802 1061 S 800 E STE 120 OREM UT 84097 BRET JEPSEN MANAGING DIRECTOR 50.00 X X 280000 0 29101 MARLO OAKS BOARD MEMBER 1.00 X 0 0 0 PAUL CLAYSON BOARD MEMBER 1.00 X 0 0 0 JASON GULL BOARD MEMBER 1.00 X 0 0 0 280000 0 29101 1 0 1 0 MERCER INVESTMENTS 21875 NETWORK PLACE CHICAGO IL 60673 PROFESSIONAL FEES 254166 COOLEY LLP 101 CALIFORNIA STREET 5TH FLOOR SAN FRANCISCO CA 94111 LEGAL FEES 149828 2 594608 3899 590709 7288 7288 661956 -661956 -661956 -14430 -647526 -60060 0 -10531 -49529 15000000 15000000 309101 247281 61820 16676 13341 3335 14261 11409 2852 174828 62067 112761 44339 44339 254166 254166 40 40 1386 1386 7422 7422 431 431 24692 24692 2060 2060 8400 8400 23712 23712 OTHER DEDUCTIONS 202237 202237 INTANGIBLE DRILLING EXP 117112 117112 TAXES 10377 10377 INVESTMENT EXPENSES 2% 3652 3652 384 384 16215276 15920520 294756 0 34283373 20939002 7309 9602 44448874 31745621 78739556 52694225 29421 29200 29421 29200 X 78710135 52665025 78710135 52665025 78739556 52694225 X -16275336 -10101618 331844 X 0 1 X 1 0 X X 1 STATE OF UTAH GOVERNOR'S OFFICE OF ECON DEVEL 876000545 6 1 15000000 920520 1 15000000 920520 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 PART IV, SECTION A, LINE 2: THE SUPPORTED ORGANIZATION IS NOT REQUIRED TO OBTAIN RECOGNITION OF ITS PUBLIC CHARITY STATUS BECAUSE IT IS A GOVERNMENT ENTITY. 0 25000 25000 16190276 16215276 960764 240191 0 0 208293 960764 1169057 1753586 25000 25000 50000 52073 240191 292264 438396 PART II-A, EXPLANATION OF FOUR YEAR AVERAGING ORGANIZATION BEGAN LOBBYING ACTIVITIES IN 2022. 0 INVESTMENTS 31745621 F 31745621 X -10161678 -10101618 -10101618 -60060 0 -60060 15883432 0 15883432 331844 331844 16215276 PART X, LINE 2: THE FUND EVALUATES ITS TAX POSITIONS THAT HAVE BEEN TAKEN OR ARE EXPECTED TO BE TAKEN ON INCOME TAX RETURNS TO DETERMINE IF AN ACCRUAL IS NECESSARY FOR UNCERTAIN TAX POSITIONS. AS OF DECEMBER 31, 2022, THE UNRECOGNIZED TAX BENEFITS ACCRUAL WAS ZERO. THE FUND WILL RECOGNIZE FUTURE ACCRUED INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS IN INCOME TAX EXPENSE IF INCURRED. PART XII, LINE 4B - OTHER ADJUSTMENTS: EXPENSES FROM PASS-THROUGH ENTITIES 331,844. EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INVESTMENTS 4602 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 215222 MIDDLE EAST AND NORTH AFRICA 0 0 INVESTMENTS 5126 0 0 0 0 0 0 224950 0 224950 0 0 0 0 1 0 PART III ACCOUNTING METHOD: 1 STATE OF UTAH GOVERNOR'S OFFICE OF ECONOMIC DEVELOPMENT 60 EAST SOUTH TEMPLE SUITE 300 SALT LAKE CITY UT 84111 876000545 501(C)(3) 15000000 0 GENERAL CHARITABLE PURPOSE 1 X X X X 0 0 0 0 0 0 0 1 0 BRET JEPSEN MANAGING DIRECTOR 275000 0 5000 0 0 0 0 0 29101 0 309101 0 0 0 PART I, LINE 7 A BONUS IS ISSUED BASED UPON MILESTONES ESTABLISHED BY THE UCIC BOARD VIA ITS ECONOMIC DEVELOPMENT PLAN. FORM 990, PART VI, SECTION A, LINE 7A THE STATE OF UTAH, GOVERNOR'S OFFICE OF ECONOMIC DEVELOPMENT HAS THE AUTHORITY TO ELECT AND APPOINT THE BOARD. FORM 990, PART VI, SECTION A, LINE 8B THERE ARE NO COMMITTEES WITH THE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE OFFICERS REVIEW THE RETURN BEFORE THE TAX RETURN HAS BEEN FILED. FORM 990, PART VI, SECTION B, LINE 12C EVERY BOARD MEETING AND INVESTMENT VOTE INCLUDES A REVIEW OF THE STATED CONFLICT OF INTEREST POLICY. MEMBERS AND STAFF REGULARLY REMOVE THEMSELVES FROM VOTES IN WHICH A CONFLICT IS PRESENT. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION MARKET ANALYSES WERE CONDUCTED AND SUBMITTED TO AN INDEPENDENT BOARD COMMITTEE WHICH THEN MADE SALARY RECOMMENDATIONS TO THE FULL BOARD FOR APPROVAL. THIS HAPPENS FOR THE MANAGING DIRECTOR AND CFO. FORM 990, PART VI, SECTION C, LINE 19 ALL DOCUMENTS ARE MADE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: EXPENSES FROM PASS-THROUGH ENTITIES 331,844. UTAH FUND OF FUNDS LLC 6465 SOUTH 3000 EAST STE 105 SALT LAKE CITY UT 84121 113775457 INVESTMENT UT 4065893 52622964 UTAH CAPITAL INVESTMENT CORP STATE OF UTAH 60 EAST SOUTH TEMPLE SALT LAKE CITY UT 84111 876000545 GOVERNMENT UT GOVERNEMNT LINE 6 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0