Akeela Development Corporation
- Assets
- $7.6m
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Anchorage, AK
- Founding
- 04/1996
- Data as of
- 06/2022
- EIN
- 92-0156518
Organization Overview
Akeela Development Corporation is located in Anchorage, AK. The organization was established in 1996. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood 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. Akeela Development Corporation is a 501(c)(2) and as such, is described as a "Title Holding Corporation for an Exempt Organization" by the IRS.
For the year ending 06/2022, Akeela Development Corporation generated $1.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.8% each year. All expenses for the organization totaled $1.1m during the year ending 06/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
A SUPPORT ORGANIZATION FOR AKEELA INC. WHICH HOLDS TITLE TO PROPERTY, COLLECTS INCOME AND PAYS EXPENSES RELATED TO THAT PROPERTY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION IS ORGANIZED FOR HOLDING PROPERTY IN SUPPORT OF AKEELA, INC. THE EXPENSES RELATE TO THE PROPERTY HELD.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jim Sellers Executive Dir. | Officer | 40 | $97,733 |
Carl Gatter Chairman | OfficerTrustee | 0 | $0 |
Nancy Tieje Vice Chair | OfficerTrustee | 0 | $0 |
Brian Saylor Sec/treas | OfficerTrustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $50,882 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $50,882 |
| Total Program Service Revenue | $0 |
| Investment income | $22,990 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $1,157,365 |
| Net Gain/Loss on Asset Sales | $51,845 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,283,082 |
| 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. | $104,974 |
| Compensation of current officers, directors, key employees. | $2,377 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,833 |
| Pension plan accruals and contributions | $5,451 |
| Other employee benefits | $16,809 |
| Payroll taxes | $8,508 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,250 |
| Fees for services: Accounting | $2,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $22,020 |
| Advertising and promotion | $0 |
| Office expenses | $2,348 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $791,152 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $172,199 |
| Payments to affiliates | $350,000 |
| Depreciation, depletion, and amortization | $200,481 |
| Insurance | $57,919 |
| All other expenses | -$604,973 |
| Total functional expenses | $1,146,945 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $482,264 |
| 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 | $5,618,412 |
| Investments—publicly traded securities | $1,226,563 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $305,079 |
| Total assets | $7,632,318 |
| Accounts payable and accrued expenses | $55,868 |
| Grants payable | $0 |
| Deferred revenue | $93,503 |
| 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 | $3,890,836 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $4,058,000 |
| Total liabilities | $8,098,207 |
| Net assets without donor restrictions | -$465,889 |
| 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 | $7,632,318 |