Alaska Business Development Center Inc

Analysis

Alaska Business Development Center Inc is a registered charity in United States, based in Anchorage, AK. It received its IRS tax-exemption ruling in May 1982, 44 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 Business Development Center Inc reported income of $763k and spending of $693k, spending 91% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $585k to $763k (+30%), an average of +6.9% a year. The sharpest change came in the year to June 2023, when income rose by 75%. Over the whole period it spent 94% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Alaska Business Development Center Inc sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 74th percentile within AK. Charities of a similar size with the same main cause include The Current Ga Inc ($763k), Public Works ($764k) and Sustain Charlotte Inc ($762k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 35% and program service revenue 64% of the total. Compensation of current officers, directors and key employees was $99k (14% of expenses). Other salaries and wages came to $267k. At year end it held assets of $609k against liabilities of $8,659, net assets of $601k. It reported 16 employees.