Alaska Business Development Center Inc
- Assets
- $661.6k
- Revenue
- $599.3k
- Investments
- $0.0
- Employees
- 16
- Location
- Anchorage, AK
- Founding
- 05/1982
- Data as of
- 06/2021
- EIN
- 92-0077825
Organization Overview
Alaska Business Development Center Inc is located in Anchorage, AK. The organization was established in 1982. According to its NTEE Classification (S43) the organization is classified as: Small Business Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2021, Alaska Business Development Center Inc employed 16 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Alaska Business Development Center 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 06/2021, Alaska Business Development Center Inc generated $599.3k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 0.2% each year. All expenses for the organization totaled $472.9k during the year ending 06/2021. 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
ALASKA BUSINESS DEVELOPMENT CENTER INC PROVIDES MANAGEMENT AND TECHNICAL ASSISTANCE, FREE TAX EDUCATION, FREE TAX PREPARATION, BUSINESS RELATED WORKSHOPS, TAX PROBLEM RESOLUTION, CREATIVE FINANCIAL PROBLEM SOLVING AND LOAN/GRANT APPLICATION ASSISTANCE TO RURAL ALASKAN RESIDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ABDC ASSISTED LOW INCOME FAMILIES IN RURAL ALASKA PREPARE CURRENT YEAR TAX RETURNS.
ABDC PROVIDED TAX EDUCATIONAL SERVICES AND RESOLUTION OF TAX CONTROVERSIES TO LOW INCOME ALASKAN FAMILIES
ABDC PROVIDED CURRENT YEAR TAX PREPARATION TO SENIOR CITIZENS IN RURAL ALASKA
ABDC PROVIDED LEGAL AND CONSULTING SERVICES FOR IRS CONTROVERSIES AND PROVIDED ADDITIONAL SERVICES AND RAISED REVENUE FOR ALL PROGRAMS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michelle Kern President | OfficerTrustee | 40 | $101,747 |
Raymond Koso Jr Director | Trustee | 5 | $0 |
Paul Reid Director | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $264,353 |
| 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 | $264,353 |
| Total Program Service Revenue | $334,861 |
| Investment income | $45 |
| 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 | $599,259 |
| 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. | $101,747 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $237,858 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $29,715 |
| 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 | $5,621 |
| Office expenses | $12,056 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $48,556 |
| Travel | $7,439 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $647 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $7,577 |
| All other expenses | $383 |
| Total functional expenses | $472,924 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $112,314 |
| Savings and temporary cash investments | $540,450 |
| 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 | $5,843 |
| Net Land, buildings, and equipment | $2,982 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $661,589 |
| Accounts payable and accrued expenses | $5,576 |
| 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 | $67,681 |
| Total liabilities | $73,257 |
| 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 | $461,997 |
| Retained earnings, endowment, accumulated income, or other funds | $126,335 |
| Total liabilities and net assets/fund balances | $661,589 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Alaska Business Development Center Inc has recieved totaling $12,906.
| Awarding Organization | Amount |
|---|---|
Central Bering Sea Fishermens Association St Paul Island, AK PURPOSE: GENERAL SUPPORT | $6,850 |
Charities Aid Foundation America Alexandria, VA PURPOSE: CHARITABLE DONATION | $6,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $56 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Northwest Business Development Association Spokane Valley, WA | $4,504,001 | $3,801,691 |
Washington State Microenterprise Association Olympia, WA | $24,484 | $2,241,814 |
Ameritrust Cdc Edmonds, WA | $1,782,225 | $1,891,460 |
Kitchen Spokane Spokane, WA | $8,199 | $267,957 |
Alaska Business Development Center Inc Anchorage, AK | $661,589 | $599,259 |
Find Ventures Co Seattle, WA | $552,994 | $831,954 |
Small Business Export Finance Assistance Center Of Washington Seattle, WA | $497,879 | $333,013 |
South Lake Union Chamber Ofcommerce Seattle, WA | $209,851 | $252,133 |
Two Rivers Cdc North Bend, WA | $45,060 | $0 |