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Nonprofiteer
← ALASKA BUSINESS DEVELOPMENT CENTER INC

Form 990 for tax year 2022

Filed by ALASKA BUSINESS DEVELOPMENT CENTER INC.

Totals

Total revenue
$763,177
Total expenses
$693,120
Contributions and grants received
$270,841
Grants paid
$0
Program service revenue
$491,906
Investment income
$430
Other revenue
$0
Total assets, end of year
$609,359
Total liabilities, end of year
$8,659
Net assets or fund balances, end of year
$600,700
Program services expenses (Part IX)
$693,120
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$693,120

Program services were 100.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $270,841

  • 2a · Program service revenue: PROGRAM REVENUE

    total $459,075 · related or exempt $459,075

  • 2b · Program service revenue: CONTRACT INCOME

    total $32,831 · related or exempt $32,831

  • 3 · Investment income

    total $430 · excluded $430

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $98,665 · program services $98,665

  • 7 · Other salaries and wages

    total $266,811 · program services $266,811

  • 10 · Payroll taxes

    total $32,405 · program services $32,405

  • 12 · Advertising and promotion

    total $17,306 · program services $17,306

  • 13 · Office expenses

    total $20,615 · program services $20,615

  • 16 · Occupancy

    total $51,571 · program services $51,571

  • 17 · Travel

    total $174,730 · program services $174,730

  • 19 · Conferences, conventions and meetings

    total $649 · program services $649

  • 22 · Depreciation, depletion and amortization

    total $1,193 · program services $1,193

  • 23 · Insurance

    total $3,783 · program services $3,783

  • 24a · Other expenses: PROFESSIONAL FEES

    total $10,008 · program services $10,008

  • 24b · Other expenses: TELECOMMUNICATIONS

    total $6,574 · program services $6,574

  • 24c · Other expenses: LICENSE & REGISTRATION

    total $5,933 · program services $5,933

  • 24d · Other expenses: VOLUNTEER RECOGNITION

    total $2,765 · program services $2,765

  • 24e · All other expenses

    total $112 · program services $112

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $112,067 · end of year $126,233

  • 2 · Savings and temporary cash investments

    beginning of year $418,971 · end of year $476,512

  • 9 · Prepaid expenses and deferred charges

    beginning of year $4,114 · end of year $6,018

  • 10a · Land, buildings and equipment: cost or other basis

    $58,539

  • 10b · Land, buildings and equipment: accumulated depreciation

    $57,943

  • 10c · Land, buildings and equipment, net

    beginning of year $1,789 · end of year $596

  • 17 · Accounts payable and accrued expenses

    beginning of year $5,926 · end of year $8,659

  • 19 · Deferred revenue

    beginning of year $372

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $588,332 · end of year $530,643

  • 31 · Retained earnings, endowment or other funds

    beginning of year -$57,689 · end of year $70,057

Mission and programs · 2022

Mission

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.

  • ABDC ASSISTED LOW INCOME FAMILIES IN RURAL ALASKA PREPARE CURRENT YEAR TAX RETURNS.

    Expenses $422,649 · Grants $172,700 · Revenue $296,178

  • ABDC PROVIDED TAX EDUCATIONAL SERVICES AND RESOLUTION OF TAX CONTROVERSIES TO LOW INCOME ALASKAN FAMILIES

    Expenses $248,152 · Grants $81,000 · Revenue $152,978

  • ABDC PROVIDED CURRENT YEAR TAX PREPARATION TO SENIOR CITIZENS IN RURAL ALASKA

    Expenses $15,403 · Grants $14,000

  • ABDC PROVIDED LEGAL AND CONSULTING SERVICES FOR IRS CONTROVERSIES AND PROVIDED ADDITIONAL SERVICES AND RAISED REVENUE FOR ALL PROGRAMS

    Expenses $6,916 · Revenue $42,750

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Michelle Kern

    PRESIDENT

    Total calculated
    $98,665
    From this org
    $98,665
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Raymond Koso Jr

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Paul Reid

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
15 May 2024
IRS schema version
2022v5.0
Source object
202401369349315720

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