Alaska Development Corporation
- Assets
- $175.4k
- Revenue
- $282.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Juneau, AK
- Founding
- 01/2005
- Data as of
- 06/2021
- EIN
- 56-2374498
Organization Overview
Alaska Development Corporation is located in Juneau, AK. The organization was established in 2005. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Alaska Development Corporation 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 Development Corporation generated $282.8k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 11.8% each year . All expenses for the organization totaled $189.1k during the year ending 06/2021. While expenses have increased by 4.6% per year over the past 6 years. They've been increasing with an increasing level of total revenue. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTE SOUND AND SUSTAINABLE ECONOMIC GROWTH AND DIVERSIFICATION WITHIN THE STATE OF ALASKA BY PROVIDING INFORMATION, EDUCATION, AND PROGRAMS OF ASSISTANCE FOR BUSINESSES, AGENCIES, LAW MAKERS, AND THE PUBLIC; AND ANY AND ALL TYPES OF ACTIVITIES NOT PROHIBITED BY LAWS WHICH SHALL PROMOTE AND FOSTER ECONOMIC GROWTH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ADC SUPPORTS INITIATIVES THAT SUPPORT THE JUNEAU AS A GREAT CITY PROGRAM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Garrett Schoenberger Chair | OfficerTrustee | 1 | $0 |
Jake Carpenter Treasurer | OfficerTrustee | 1 | $0 |
Dr Karen Carey Vice-Chair | OfficerTrustee | 1 | $0 |
Mark Guevarra Director | Trustee | 1 | $0 |
Alexander Kotlarov Director | Trustee | 1 | $0 |
Ray Paddock III Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $220,974 |
| All other contributions, gifts, grants, and similar amounts not included above | $61,682 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $282,656 |
| Total Program Service Revenue | $0 |
| Investment income | $130 |
| 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 | $282,786 |
| 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 | $527 |
| 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 | $188,580 |
| Total functional expenses | $189,107 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $103,697 |
| Savings and temporary cash investments | $71,717 |
| 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 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $175,414 |
| Accounts payable and accrued expenses | $3,315 |
| 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 | $15,770 |
| Total liabilities | $19,085 |
| Net assets without donor restrictions | $156,329 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $175,414 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Alaska Development Corporation has recieved totaling $10,026.
| Awarding Organization | Amount |
|---|---|
Alaska Community Foundation Anchorage, AK | | $10,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $26 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Rainier Valley Community Development Fund Seattle, WA | $31,147,402 | $2,128,403 |
Northwest Minority Supplier Development Council Tukwila, WA | $1,329,089 | $1,211,694 |
West Seattle Junction Association Seattle, WA | $609,509 | $675,325 |
Block By Block Redmond, WA | $616,706 | $347,970 |
Fourth Plain Forward Vancouver, WA | $259,702 | $507,488 |
University District Development Association Spokane, WA | $227,578 | $377,784 |
William M Factory Small Business Incubator Tacoma, WA | $2,619,735 | $162,253 |
Council For Historic Downtown Issaquah Issaquah, WA | $254,281 | $365,009 |
Oak Harbor Main Street Association Oak Harbor, WA | $92,572 | $0 |
Alaska Development Corporation Juneau, AK | $175,414 | $282,786 |
Langley Main Street Association Langley, WA | $96,292 | $0 |
Mount Baker Hub Seattle, WA | $12,120 | $0 |