Ogden, Utah, April 18, 2013
Bank of Utah, Cottages of Hope and VITA Volunteers had a record year providing free tax preparation services
Ten Bank of Utah staff members and twelve other VITA volunteers donated 1,045 hours preparing income tax returns and providing advice for low-income families for free at Ogden’s Cottages of Hope in 2013. The non-profit reported that its volunteer tax preparers completed more than 1,352 returns this past season, generating $2,269,000 in total tax refunds for local families. That is an estimated average refund of $1,679 per patron.
Cottages of Hope also calculated that the total financial impact of the tax preparation effort was $2.5 million, which includes the tax refund total and an estimated $242,000 that patrons didn’t have to spend for tax preparation services. Families were able to put that tax preparation savings toward paying bills or buying necessities for their families.
“Bank of Utah’s ten volunteers have donated close to 200 hours of service at Cottages of Hope this year,” said Scott H. Parkinson, Bank of Utah’s senior vice president of marketing and communication. “And, we’re proud to discover that our dedicated group generated $460,000 in tax refunds for Cottage of Hope’s patrons.”
The annual volunteer effort at Cottages of Hope superseded past season records, with 160 more tax returns prepared in 2013 over last year. The non-profit reports having prepared nearly 6,000 returns since the start of the program in 2008.
“We’re very grateful to Bank of Utah and our other volunteers for helping us provide tax preparation services in the community through the IRS Volunteer Income Tax Assistance program,” added Cottages of Hope Co-Director and CFO Chris Swaner. “This service is part of our organization’s overall goals to help Ogden residents achieve greater financial stability, and to serve as a “one-stop” resource and referral center year round.”
Cottages of Hope, Inc., is located at 2724 South Washington, Ogden, Utah. Call (801)393-4011, e-mail firstname.lastname@example.org or visit www.cottagesofhope.com for more information.
About Bank of Utah
Bank of Utah, which recently marked 60 years in business, was founded and organized by Frank M. Browning, an Ogden business executive. The bank officially opened for business on December 1, 1952 with 16 employees, and has grown to over 300 employees and $750 million in assets. The bank currently has 13 full-service branches along the Wasatch Front, mortgage offices in South Towne, Price, Logan, St. George and South Jordan and corporate trust teams in Ogden and Salt Lake City. Bank of Utah offers personal banking, business banking, home lending, trust management and investment services. For more information call 1-800-516-5559 or visit www.bankofutah.com.