Aalc Inc
- Assets
- $625.6k
- Revenue
- $4.6k
- Investments
- $500.0k
- Employees
- 0
- Location
- Lookout Mountain, GA
- Founding
- 08/2008
- Data as of
- 12/2020
- EIN
- 26-2480633
Organization Overview
Aalc Inc is located in Lookout Mountain, GA. The organization was established in 2008. According to its NTEE Classification (L22) the organization is classified as: Senior Citizens Housing & Retirement Communities, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Aalc Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2020, Aalc Inc generated $4.6k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 24.2% each year . All expenses for the organization totaled $12.5k during the year ending 12/2020. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
ADVANCEMENT OF THE HEALTH, RELIGIOUS, AND EDUCATIONAL NEEDS OF THE ELDERLY
Describe the Organization's Program Activity:
Part 3 - Line 4a
AN ASSISTED LIVING COMMUNITY TO AID IN THE HEALTH, RELIGIOUS, AND EDUCATIONAL WELL-BEING OF ELDERLY INDIVIDUALS IS FINISHING CONSTRUCTION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Marni Halvorson Board Member | Trustee | 0 | $0 |
Frank Brock President | Trustee | 10 | $0 |
Marc Erickson Assistant Secretary/treasu | Trustee | 0 | $0 |
Don Morton Secretary | Trustee | 0 | $0 |
Karen Leavengood Board Member | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,600 |
| Investment income | $22 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,622 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,453 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,431 |
| All other expenses | $0 |
| Total functional expenses | $12,458 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1 |
| Savings and temporary cash investments | $44,806 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $500,025 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $625,604 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $625,604 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Aalc Inc has recieved totaling $650.
| Awarding Organization | Amount |
|---|---|
Chattanooga Christian Community Foundation Chattanooga, TN PURPOSE: IN FURTHERANCE OF FOUNDATION'S PURPOSES | $650 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Sunnyside Properties Of Sarasota Inc Sarasota, FL | $68,013,446 | $10,977,854 |
Moorings Park Community Health Incorporated Naples, FL | $1,266,538 | $9,547,257 |
Moorings Park Institute Incorporated Naples, FL | $917,438 | $9,024,675 |
Lutheran Retirement Center Salisbury Inc Salisbury, NC | $24,283,839 | $9,827,314 |
Westminster Senior Services Inc Orlando, FL | $3,758,693 | $8,872,607 |
Laurel Crest Retirement Community Columbia, SC | $30,245,637 | $7,008,293 |
Church Home Rehabilitation And Healthcare Llc Perry, GA | $11,785,809 | $8,119,276 |
Aldersgate Retirement Inc Hialeah, FL | $3,351,583 | $6,541,744 |
The Centurion Foundation Inc Atlanta, GA | $193,227,829 | $5,759,227 |
Luke Inc Collierville, TN | $244,355,141 | $1,368,129 |
Decatur Church Of Christ Senior Housing Inc Decatur, GA | $17,263,297 | $4,161,433 |
Providence Senior Living Inc Cleveland, TN | $694,830 | $4,504,316 |