Alaska Development Corporation

Analysis

Alaska Development Corporation is a registered charity in United States, based in Juneau, AK. It received its IRS tax-exemption ruling in January 2005, 21 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Alaska Development Corporation reported income of $121k and spending of $8,976, leaving 93% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income fell from $231k to $121k (-48%), an average of -15% a year. The sharpest change came in the year to June 2023, when income dropped by 44%. Over the whole period it spent 70% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Alaska Development Corporation sits at the 40th percentile: it is larger than about 40% of them. Against every charity in United States with reported income it ranks in the 42nd percentile, and in the 37th percentile within AK. Charities of a similar size with the same main cause include Black Healing Fund ($121k), African American Entrepreneurs Association Inc ($121k) and Brookfield Community Betterment Inc ($121k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 97% and program service revenue 0.2% of the total. At year end it held assets of $325k against liabilities of $3,337, net assets of $322k.