Civic Intelligence

Adak Community Development Corporation

EIN 26-3793262 • 501(c)4 • Adak, AK

Profile

The promotion and development of fisheries related resources, infrastructure and assets for the benefit of the community of Adak, Alaska.

PO Box 1943Adak, AK 99546

www.adak-ak.us/acdc

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

31st percentile

0.01x

Higher debt load relative to assets than 31% of similar nonprofits.

501(c)4 • $5M-$10M nonprofits • Source year 2024

Liabilities / Revenue

44th percentile

0.07x

Higher debt load relative to revenue than 44% of similar nonprofits.

501(c)4 • $5M-$10M nonprofits • Source year 2024

Net Margin

90th percentile

66%

Higher net margin than 90% of similar nonprofits.

501(c)4 • $5M-$10M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

65th percentile

10%

Faster asset growth than 65% of similar nonprofits.

501(c)4 • $5M-$10M nonprofits • Annualized from 2022 to 2024

Revenue Growth

14th percentile

-17%

Faster revenue growth than 14% of similar nonprofits.

501(c)4 • $5M-$10M nonprofits • Annualized from 2022 to 2024

Assets

Up

$7,117,755

Up $666,664 (+10%) from 2023

Liabilities

Up

$60,022

Up $58,695 (+4423%) from 2023

Net Assets

Up

$7,057,733

Up $607,969 (+9.4%) from 2023

Revenue

Up

$881,255

Up $127,555 (+17%) from 2023

Expenses

Up

$300,842

Up $100,497 (+50%) from 2023

Net Income

Up

$580,413

Up $27,058 (+4.9%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$8.0M$6.0M$4.0M$2.0M$0Assets 2013: $1,231,376Liabilities 2013: $7,238Net Assets 2013: $1,224,1382013Assets 2014: $1,571,237Liabilities 2014: $115,105Net Assets 2014: $1,456,1322014Assets 2015: $1,809,277Liabilities 2015: $8,793Net Assets 2015: $1,800,4842015Assets 2016: $2,357,259Liabilities 2016: $6,124Net Assets 2016: $2,351,1352016Assets 2017: $2,806,818Liabilities 2017: $5,280Net Assets 2017: $2,801,5382017Assets 2018: $3,462,146Liabilities 2018: $189,273Net Assets 2018: $3,272,8732018Assets 2019: $3,687,472Liabilities 2019: $100,718Net Assets 2019: $3,586,7542019Assets 2020: $4,062,999Liabilities 2020: $0Net Assets 2020: $4,062,9992020Assets 2021: $4,817,463Liabilities 2021: $8,159Net Assets 2021: $4,809,3042021Assets 2022: $5,838,618Liabilities 2022: $14,960Net Assets 2022: $5,823,6582022Assets 2023: $6,451,091Liabilities 2023: $1,327Net Assets 2023: $6,449,7642023Assets 2024: $7,117,755Liabilities 2024: $60,022Net Assets 2024: $7,057,7332024

Highlighted filing

2024

Assets$7,117,755
Liabilities$60,022
Net Assets$7,057,733

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$1.5M$1.0M$500K$0Revenue 2013: $621,939Expenses 2013: $255,766Net Income 2013: $366,1732013Revenue 2014: $398,046Expenses 2014: $88,210Net Income 2014: $309,8362014Revenue 2015: $517,285Expenses 2015: $172,935Net Income 2015: $344,3502015Revenue 2016: $678,097Expenses 2016: $141,824Net Income 2016: $536,2732016Revenue 2017: $670,565Expenses 2017: $233,265Net Income 2017: $437,3002017Revenue 2018: $694,701Expenses 2018: $199,508Net Income 2018: $495,1932018Revenue 2019: $562,527Expenses 2019: $307,058Net Income 2019: $255,4692019Revenue 2020: $562,679Expenses 2020: $126,037Net Income 2020: $436,6422020Revenue 2021: $820,475Expenses 2021: $97,995Net Income 2021: $722,4802021Revenue 2022: $1,285,252Expenses 2022: $158,901Net Income 2022: $1,126,3512022Revenue 2023: $753,700Expenses 2023: $200,345Net Income 2023: $553,3552023Revenue 2024: $881,255Expenses 2024: $300,842Net Income 2024: $580,4132024

Highlighted filing

2024

Revenue$881,255
Expenses$300,842
Net Income$580,413

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 5, 2025
Return Version
2024v5.2
Gross Receipts
$1,109,642
Mission and Program Overview

Mission

The promotion and development of fisheries related resources, infrastructure and assets for the benefit of the community of Adak, Alaska.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$6,449,764$7,057,733▲ $607,969
Intangible Assets$2,991,809$2,991,809→ $0
Cash and Non-Interest-Bearing Accounts$2,069,478$2,395,032▲ $325,554
Investments in Publicly Traded Securities$1,237,816$1,340,937▲ $103,121
Accounts Receivable$1,149$206,083▲ $204,934
Land, Buildings, and Equipment, Net$119,151$119,151→ $0
Savings and Temporary Cash Investments$27,188$24,233▼ $2,955
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$6,451,091$7,117,755▲ $666,664
Other Assets Total$4,500$40,510▲ $36,010
Liabilities
Accounts Payable and Accrued Expenses$1,327$32,480▲ $31,153
Other Liabilities-$27,542-
Total Liabilities$1,327$60,022▲ $58,695
Net Assets / Fund Balance
Total Net Assets Fund Balance$6,449,764$7,057,733▲ $607,969
Total Liabilities and Net Assets / Fund Balance$6,451,091$7,117,755▲ $666,664

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$196,983-$196,983
Equipment$92,900-$92,900
Other Land Buildings$-170,732$170,732-
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Mary NelsonOffice ManagerFT$38,962$38,962

Board Members and Trustees

NameTitle
Layton J LockettPresident
Steven MinorVice President
Cory HerendeenDirector
Richard R KosoDirector
Scott BullockDirector
W David FraserDirector
Larry D MayesSecretary/Treas

Highest Paid Contractors

ContractorServicesLocationCompensation
Zeto Point PartnersConsultingPO Box 32425, Juneau, AK 99803$132,232
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$758,459
Investment Income
$122,546
Other Revenue
$250
Change in Net Assets
$580,413
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$241,898
Salaries, Compensation, and Employee Benefits$43,066
Grants and Similar Amounts Paid$15,878
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$203,999--$203,999
Current Officers, Directors, Trustees, and Key Employees-$38,962-$38,962
Grants to Domestic Individuals$15,878--$15,878
Fees for Services Legal$12,748--$12,748
Fees for Service Investment Mgmnt Fees-$6,585-$6,585
Travel-$5,688-$5,688
Payroll Taxes-$4,104-$4,104
Insurance-$3,627-$3,627
Occupancy$1,372$2,028-$3,400
Fees for Services Accounting$2,000--$2,000
Office Expenses-$1,542-$1,542
Information Technology-$594-$594
All Other Expenses$50$201-$251
Other Expenses$150$104-$104
Total Functional Expenses$236,197$64,645$0$300,842
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Steven K MinorConsulting ServiConsulting ServicesNo$123,232

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
CQE QS Assistance$15,878
Corporate Card$10,987
Payroll Liabilities$677
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
Yes
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

Cory Herendeen and Scott Bullock are business partners in Aleutian Outfitters in Adak Alaska. Both were elected into the board in October of 2021 and re-elected in 2024.

Form 990, Part VI, Section B, Line 11B

A copy of the yearly consolidated financials is provided to each member, along with a copy of the 990. It is a public forum and the public may ask to see or receive a copy of the reports as well.

Form 990, Part VI, Section B, Line 12C

Directors abstain if conflict at time of meeting votes.

Form 990, Part VI, Section B, Line 15A

The board researched the labor rates via website within the state.

Form 990, Part VI, Section B, Line 15B

The board researched the labor rates via website within the state.

Form 990, Part VI, Section C, Line 19

Documents are available upon request

Filing and Contact Details

Filer

Filer Name
Adak Community Development Corporation
EIN
26-3793262
Phone
9075922335
Address
PO Box 1943, Adak, AK 99546

Signing Officer

Name
Layton J Lockett
Title
President
Signed
2025-11-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Layton J Lockett
Formed
2005
Legal Domicile
Ak
Voting Board Members
7
Independent Board Members
7
Employees
1
Volunteers
7

Preparer

Firm
Altman Rogers & Co
Address
3000 C ST STE 201, ANCHORAGE, AK 99503
Preparer
Sterling Gillon CPA
Phone
9072742992
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IRS990/OtherExpensesGrp/ProgramServicesAmt0150
IRS990/OtherExpensesGrp/TotalAmt0867
IRS990/OtherExpensesGrp/TotalAmt1388
IRS990/OtherExpensesGrp/TotalAmt2105
IRS990/OtherExpensesGrp/TotalAmt3104
IRS990/OtherLiabilitiesGrp/EOYAmt027542
IRS990/OtherRevenueMiscGrp/BusinessCd0110000
IRS990/OtherRevenueMiscGrp/Desc0CQE Application Fees
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt0250
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt0250
IRS990/OtherRevenueTotalAmt0250
IRS990/OtherSalariesAndWagesGrp/TotalAmt00
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt04104
IRS990/PayrollTaxesGrp/TotalAmt04104
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/PrincipalOfficerNm0Layton J Lockett
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0110000
IRS990/ProgramServiceRevenueGrp/BusinessCd1110000
IRS990/ProgramServiceRevenueGrp/Desc0Crab Royalty
IRS990/ProgramServiceRevenueGrp/Desc1Fish Royalty
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0757096
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt11363
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0757096
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt11363
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYExcessBenefitTransInd0false
IRS990/PYGrantsAndSimilarPaidAmt0750
IRS990/PYInvestmentIncomeAmt044454
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt0156480
IRS990/PYOtherRevenueAmt0500
IRS990/PYProgramServiceRevenueAmt0708746
IRS990/PYRevenuesLessExpensesAmt0553355
IRS990/PYSalariesCompEmpBnftPaidAmt043115
IRS990/PYTotalExpensesAmt0200345
IRS990/PYTotalRevenueAmt0753700
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0580413
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0758709
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt06449764
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt07057733
IRS990/SavingsAndTempCashInvstGrp/BOYAmt027188
IRS990/SavingsAndTempCashInvstGrp/EOYAmt024233
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt0196983
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0196983
IRS990ScheduleD/EquipmentGrp/BookValueAmt092900
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt092900
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0-170732
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0170732
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt010987
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt115878
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt2677
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Corporate Card
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1CQE QS Assistance
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2Payroll Liabilities
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0119151
IRS990ScheduleD/TotalLiabilityAmt027542
IRS990ScheduleI/GrantRecordsMaintainedInd0true
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt015878
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0CQE Assistance
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt06
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/ValuationMethodUsedDesc0Book
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0Organization reports back to the Adak Community Development Corp board of directors.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0Grantmaker's Description of How Grants are Used
IRS990ScheduleI/Total501c3OrgCnt00
IRS990ScheduleI/TotalOtherOrgCnt00
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm0Steven K Minor
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0Consulting Servi
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt0123232
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0Consulting Services
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Cory Herendeen and Scott Bullock are business partners in Aleutian Outfitters in Adak Alaska. Both were elected into the board in October of 2021 and re-elected in 2024.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A copy of the yearly consolidated financials is provided to each member, along with a copy of the 990. It is a public forum and the public may ask to see or receive a copy of the reports as well.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Directors abstain if conflict at time of meeting votes.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The board researched the labor rates via website within the state.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The board researched the labor rates via website within the state.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Documents are available upon request
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, Line 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section B, Line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section B, Line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Section C, Line 19
IRS990ScheduleR/AssetExchangeInd0false
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0false
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt0Adak Community Development Corporation
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt0Adak Community Seafoods ACS
IRS990ScheduleR/IdDisregardedEntitiesGrp/EIN0272348661
IRS990ScheduleR/IdDisregardedEntitiesGrp/EndOfYearAssetsAmt0137076
IRS990ScheduleR/IdDisregardedEntitiesGrp/LegalDomicileStateCd0AK
IRS990ScheduleR/IdDisregardedEntitiesGrp/PrimaryActivitiesTxt0Rental
IRS990ScheduleR/IdDisregardedEntitiesGrp/TotalIncomeAmt0-1618
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/AddressLine1Txt0PO Box 1943
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/CityNm0Adak
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/StateAbbreviationCd0AK
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/ZIPCd099546
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd0false
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0false
IRS990ScheduleR/TransferFromOtherOrgInd0false
IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt06451091
IRS990/TotalAssetsEOYAmt07117755
IRS990/TotalAssetsGrp/BOYAmt06451091
IRS990/TotalAssetsGrp/EOYAmt07117755
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt00
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt064645

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