Form 990 for tax year 2023
Filed by ALASKA CORPORATION FOR AFFORDABLE HOUSING.
Totals
- Total revenue
- $2,395,702
- Total expenses
- $7,548,236
- Contributions and grants received
- $811,264
- Grants paid
- $0
- Program service revenue
- $1,043,569
- Investment income
- $540,869
- Other revenue
- $0
- Total assets, end of year
- $37,903,464
- Total liabilities, end of year
- $4,836,678
- Net assets or fund balances, end of year
- $33,066,786
- Program services expenses (Part IX)
- $7,526,265
- Management and general expenses
- $21,971
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $7,526,265
Program services were 99.7% 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.
-
1d · Related organizations
$211,264
-
1f · All other contributions, gifts and grants
$600,000
-
2a · Program service revenue: Mortgage Interest
total $895,647 · related or exempt $895,647
-
2b · Program service revenue: Rental Income
total $109,554 · related or exempt $109,554
-
2c · Program service revenue: Development Fees
total $23,968 · related or exempt $23,968
-
2d · Program service revenue: Management Fees
total $14,400 · related or exempt $14,400
-
3 · Investment income
total $302,074 · excluded $302,074
-
7a · Gross sales of assets other than inventory
other assets $238,795
-
7b · Less cost or other basis and sales expenses
other assets $0
-
7c · Gain or loss
other assets $238,795
-
7d · Net gain or loss
total $238,795 · excluded $238,795
Functional expenses
Part IX, the statement of functional expenses.
-
7 · Other salaries and wages
total $107,472 · program services $107,472
-
8 · Pension plan contributions
total $23,652 · program services $23,652
-
9 · Other employee benefits
total $17,887 · program services $17,887
-
10 · Payroll taxes
total $10,340 · program services $10,340
-
11b · Fees: legal
total $2,763 · program services $2,763
-
11c · Fees: accounting
total $10,498 · management and general $10,498
-
13 · Office expenses
total $1,316 · management and general $1,316
-
16 · Occupancy
total $6,295 · program services $6,295
-
19 · Conferences, conventions and meetings
total $10,157 · management and general $10,157
-
23 · Insurance
total $14,398 · program services $14,398
-
24a · Other expenses: Provision for Loan Loss
total $7,257,029 · program services $7,257,029
-
24b · Other expenses: Engineering/Architect
total $46,894 · program services $46,894
-
24c · Other expenses: Consulting Services
total $37,516 · program services $37,516
-
24d · Other expenses: Property Tax
total $1,030 · program services $1,030
-
24e · All other expenses
total $989 · program services $989
Balance sheet
Part X, book values.
-
2 · Savings and temporary cash investments
beginning of year $9,423,021 · end of year $8,227,512
-
4 · Accounts receivable
beginning of year $3,455,224 · end of year $4,006,208
-
7 · Other notes and loans receivable
beginning of year $26,147,559 · end of year $19,724,470
-
9 · Prepaid expenses and deferred charges
beginning of year $2,892 · end of year $3,489
-
10a · Land, buildings and equipment: cost or other basis
$5,119,359
-
10c · Land, buildings and equipment, net
beginning of year $4,740,487 · end of year $5,119,359
-
15 · Other assets
beginning of year $71,579 · end of year $822,426
-
19 · Deferred revenue
beginning of year $600,000 · end of year $0
-
21 · Escrow or custodial account liability
beginning of year $219,786 · end of year $202,788
-
25 · Other liabilities
beginning of year $4,801,656 · end of year $4,633,890
-
29 · Capital stock, trust principal or current funds
beginning of year $0 · end of year $0
-
30 · Paid-in or capital surplus, or land, building or equipment fund
beginning of year $4,740,487 · end of year $5,119,359
-
31 · Retained earnings, endowment or other funds
beginning of year $33,478,833 · end of year $27,947,427
Mission and programs · 2023
Mission
The corporation's mission is to undertake the types of affordable housing and services that are not open to Alaska Housing directly, but support Alaska Housing's mission of providing affordable housing and services to individuals and groups in need.
Activities or mission (Part I)
The corporation provides affordable housing for low income households.
-
A total of 106 units of affordable housing were completed in prior fiscal years. Current year program revenues and expenses are related to the development and management of the 106 units of affordable housing for low income households, as well as the development of new units located in Fairbanks, Alaska that are expected to be ready for occupation in 2025. Also, funds were expended to begin a new development in Valdez, Alaska.
Expenses $7,526,265 · Revenue $1,043,569
As filed on the 2023 return.
Listed in Part VII
-
Brent Levalley
Chair Officer
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Jess Hall
Secretary and Treasurer
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Allen Hippler
Director
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Adam Crum
Director
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Heidi Hedberg
Director
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Julie Sande
Director
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Sandra Moller
Director
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
David Pruhs
Director
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Fadil Limani
Director
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Bryan Butcher
President
- Total calculated
- $466,726
- From this org
- $0
- From related orgs
- $342,631
- Other
- $124,095
- Hours/week
- 1 + 39 related
Schedule J breakdown matched by us
- Base
- $0 + $342,631 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0 + $75,379 related
- Nontaxable benefits
- $0 + $48,716 related
- Filer's total
- $0 + $466,726 related
-
Catherine Stone
Vice President
- Total calculated
- $315,863
- From this org
- $0
- From related orgs
- $218,970
- Other
- $96,893
- Hours/week
- 1 + 39 related
Schedule J breakdown matched by us
- Base
- $0 + $218,970 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0 + $48,174 related
- Nontaxable benefits
- $0 + $48,719 related
- Filer's total
- $0 + $315,863 related
-
Vasilios Gialopsos
Vice President
- Total calculated
- $273,780
- From this org
- $0
- From related orgs
- $201,434
- Other
- $72,346
- Hours/week
- 1 + 39 related
Schedule J breakdown matched by us
- Base
- $0 + $201,434 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0 + $44,315 related
- Nontaxable benefits
- $0 + $28,031 related
- Filer's total
- $0 + $273,780 related
-
Chelsea Smith
Operations and Development Manager
- Total calculated
- $143,965
- From this org
- $0
- From related orgs
- $104,843
- Other
- $39,122
- Hours/week
- 1
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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
None.
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
The filer's explanations (Part III)
- Part I, Line 3
- The corporation's executives are employees of Alaska Housing Finance Corporation and their compensation is determined by Alaska Housing Finance Corporation. No part of their compensation is paid by the corporation.
- Part II, Column C
- The executive team is part of a defined benefit retirement plan operated by the state of Alaska. Actual employer contributions are used in Schedule J and Part VII of the Form 990 due to actuarial change data not being available on an individual basis.
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
No itemized grants to organizations on this return.
Related organizations on this return
Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.
-
Alaska Housing Finance Corporation
GOVUNIT · Financing · AK
Taxable family on this return
Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.
Disregarded entities
Part I: entities that legally are the filer and file no return of their own.
-
Fairbanks Affordable Housing Partners MM LC
Property Management · AK · income $0 · assets $0
Directly controlled by ACAH
Related partnerships
Part III: related organizations taxable as a partnership, with the filer's share.
-
ANC MV Phase 1 LP
Related · Property Investment · AK · 0.01% owned · share of income -$87 · share of assets $602,889 · general or managing partner
Directly controlled by ANC MV LLC
Related corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
-
ANC MV LLC
C · Property Management · AK · 99.99% owned · share of income $6,007 · share of assets $673,692 · controlled entity
Directly controlled by ACAH
-
Fairbanks Affordable Housing LLC
C · Property Investment · AK · 0.01% owned · share of income -$51 · share of assets -$68 · controlled entity
Directly controlled by ACAH
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 15 May 2025
- IRS schema version
- 2023v6.0
- Source object
- 202511359349317061
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