Alaska Housing Initiatives
- Assets
- $3.6m
- Revenue
- -$81.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Anchorage, AK
- Founding
- 04/2012
- Data as of
- 06/2021
- EIN
- 45-2634394
Organization Overview
Alaska Housing Initiatives is located in Anchorage, AK. The organization was established in 2012. According to its NTEE Classification (L21) the organization is classified as: Low-Income & Subsidized Rental Housing, 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. Alaska Housing Initiatives 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 06/2021, Alaska Housing Initiatives generated -$81.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (15.0%) each year.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION OWNS AND OPERATES AFFORDABLE HOUSING UNTIS IN ANCHORAGE, ALASKA. THE UNITS ARE INTENDED FOR RENTAL TO LOW-INCOME INDIVIDUALS AND FAMILIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OWN AN OPERATE LOW INCOME HOUSING FOR RESIDENTS IN ANCHORAGE, ALASKA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kathleen Kowalczuk Presidenttreasurer | OfficerTrustee | 0.5 | $0 |
Karen Ward Vice President | OfficerTrustee | 0.5 | $0 |
Sue Perrins Secretary | OfficerTrustee | 0.5 | $0 |
Julie Klassy Director | Trustee | 0.5 | $0 |
Marc Stover Director | Trustee | 0.5 | $0 |
Jan Van Den Top Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $518,282 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $518,282 |
| Total Program Service Revenue | $0 |
| Investment income | $13 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$599,801 |
| 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 | -$81,506 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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 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 | $0 |
| 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 | $0 |
| All other expenses | $0 |
| Total functional expenses | $0 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $235,397 |
| Savings and temporary cash investments | $0 |
| 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 | $7,143 |
| Net Land, buildings, and equipment | $3,295,567 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $24,825 |
| Other assets | $51,211 |
| Total assets | $3,614,143 |
| Accounts payable and accrued expenses | $9,669 |
| 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 | $5,647,463 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $112,948 |
| Total liabilities | $5,770,080 |
| Net assets without donor restrictions | -$2,135,392 |
| Net assets with donor restrictions | -$20,545 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $3,614,143 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Alaska Housing Initiatives has recieved totaling $410,782.
| Awarding Organization | Amount |
|---|---|
Alaska Community Foundation Anchorage, AK PURPOSE: Operational Support | $410,782 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Homeownership Center Of Tacoma Tacoma, WA | $2,760,083 | $2,293,969 |
Golden Opportunity Living Development Tacoma, WA | $5,413,206 | $1,758,342 |
Southeast Seattle Senior Foundation Seattle, WA | $6,759,619 | $1,644,540 |
Council House Inc Seattle, WA | $4,818,293 | $2,290,756 |
Eastside Home Association Bellevue, WA | $4,294,550 | $1,391,091 |
Christian Church Homes Of Washington Tacoma, WA | $10,741,408 | $1,240,502 |
Kitsap Homes Of Compassion Bremerton, WA | $194,428 | $1,331,309 |
Special Projects And Creative Energies Seattle, WA | $107,094,549 | $3,377,117 |
Loyal Heights Manor Everett, WA | $6,957,756 | $903,742 |
Daybreak Inc Palmer, AK | $378,814 | $1,167,076 |
San Juan Community Home Trust Friday Harbor, WA | $4,183,062 | $1,260,785 |
Columbia Non-Profit Housing Vancouver, WA | $11,056,825 | $2,543,320 |