Civic Intelligence

Launch Alaska

990 • Fiscal year 2020 • EIN 47-4899425

Jul 01, 2019 to Jun 30, 2020 • Filed on May 13, 2021

Organization Profilewww.launchalaska.com
721 Depot DriveAnchorage, AK 99501

(907) 752-3681

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

97th percentile

1.55x

Higher debt load relative to assets than 97% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Liabilities / Revenue

79th percentile

0.35x

Higher debt load relative to revenue than 79% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Net Margin

19th percentile

-15%

Higher net margin than 19% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Top Officer Pay

93rd percentile

$134,056

Higher top officer pay than 93% of similar nonprofits.

Top officer pay equals 19.0% of source-year revenue.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Asset Growth

2nd percentile

-52%

Faster asset growth than 2% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Revenue Growth

55th percentile

1.7%

Faster revenue growth than 55% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets97th percentile

Assets

Down

$162,116

Down $176,622 (-52%) from 2019

Net Assets

Down

-$88,446

Down $364,516 (-132%) from 2019

Liabilities

Up

$250,562

Up $187,894 (+300%) from 2019

Revenue And Expenses
Liabilities / Revenue79th percentileNet Margin19th percentile

Revenue

Up

$706,479

Up $11,809 (+1.7%) from 2019

Expenses

Up

$811,265

Up $223,040 (+38%) from 2019

Net Income

Down

-$104,786

Down $211,231 (-198%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth2nd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$1.0M$500K$0-$500KAssets 2019: $338,738Liabilities 2019: $62,668Net Assets 2019: $276,0702019Assets 2020: $162,116Liabilities 2020: $250,562Net Assets 2020: -$88,4462020Assets 2021: $173,634Liabilities 2021: $542,945Net Assets 2021: -$369,3112021Assets 2022: $119,878Liabilities 2022: $491,993Net Assets 2022: -$372,1152022Assets 2023: $210,054Liabilities 2023: $274,685Net Assets 2023: -$64,6312023Assets 2024: $648,321Liabilities 2024: $737,012Net Assets 2024: -$88,6912024

Highlighted filing

2020

Assets$162,116
Liabilities$250,562
Net Assets-$88,446
Open 2020 Filing

Operations Trend

Revenue Growth55th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2019: $694,670Expenses 2019: $588,225Net Income 2019: $106,4452019Revenue 2020: $706,479Expenses 2020: $811,265Net Income 2020: -$104,7862020Revenue 2021: $848,038Expenses 2021: $1,119,401Net Income 2021: -$271,3632021Revenue 2022: $1,975,549Expenses 2022: $1,981,104Net Income 2022: -$5,5552022Revenue 2023: $2,756,735Expenses 2023: $2,470,379Net Income 2023: $286,3562023Revenue 2024: $2,527,982Expenses 2024: $2,631,776Net Income 2024: -$103,7942024

Highlighted filing

2020

Revenue$706,479
Expenses$811,265
Net Income-$104,786
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
May 13, 2021
Return Version
2019v5.1
Gross Receipts
$706,479
Mission and Program Overview

Mission

Our mission it to accelerate the resource revolution by bringing together entrepreneurs, members of the military, utility operators, researchers and thought leaders to work toward a shared vision of alaska as a thriving innovation and entrepreneurial hub. From drones to climate change mitigation, and from electrical grids to cyber security, alaska holds value and experience that a growing entrepreneurial ecosystem is beginning to capture. Launch alaska seeks companies that are innovating solutions to make our communities and organizations more resilient while tackling some of the world's biggest energy and climate problems.

See Schedule O

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$10,294$119,780▲ $109,486
Pledges and Grants Receivable$328,395$42,072▼ $286,323
Loans From Officers Directors$14,998$0▼ $14,998
Accounts Receivable$49$264▲ $215
Savings and Temporary Cash Investments$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Land, Buildings, and Equipment, Net$0$0→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Rtn Earn Endowment Incm Other Fnds$276,070$-88,446▼ $364,516
Total Assets$338,738$162,116▼ $176,622
Other Assets Total$0$0→ $0
Liabilities
Deferred Revenue$0$145,085▲ $145,085
Accounts Payable and Accrued Expenses$47,670$105,477▲ $57,807
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$62,668$250,562▲ $187,894
Net Assets / Fund Balance
Total Net Assets Fund Balance$276,070$-88,446▼ $364,516
Total Liabilities and Net Assets / Fund Balance$338,738$162,116▼ $176,622
Compensation and Service Providers
Top Officer Pay93rd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Isaac VanderburgVice President / CEOFT$121,218$12,838$134,056

Board Members and Trustees

NameTitle
Gretchen FauskeBoard President
Daniel MitchellBoard Member
Michael BourdukofskyBoard Member
Michelle McNultyBoard Member
Nicole BorromeoBoard Member
Hezekiah HollandActing Treasurer
Mary MinerSecretary
Chad EstesTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$679,723
Program Service Revenue
$23,000
Investment Income
$0
Other Revenue
$3,756
All Other Contributions
$2,505
Change in Net Assets
$-104,786

Audited Revenue Reconciliation

Revenue per Audited Statements
$706,479
Total Revenue per Audited Statements
$706,479
Total Revenue per Form 990
$706,479
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$558,919
Other Expenses$252,346
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$304,930$11,114-$316,044
Current Officers, Directors, Trustees, and Key Employees$159,941--$159,941
Fees for Services Other$48,810$10,105$0$58,915
Fees for Services Accounting-$56,330-$56,330
Payroll Taxes$39,137$965-$40,102
Other Employee Benefits$36,012$1,234-$37,246
Fees for Services Legal-$26,278-$26,278
Occupancy-$25,911-$25,911
Information Technology$12,474$3,559-$16,033
Travel$8,794$4,088-$12,882
Advertising$5,403$3,137-$8,540
Office Expenses$2,487$5,300-$7,787
Pension Plan Contributions$5,452$134-$5,586
Conferences and Meetings$3,487$847-$4,334
Insurance$540$2,190-$2,730
Other Expenses$64,841$-64,841-$782
Interest-$686-$686
All Other Expenses$255$100-$355
Total Functional Expenses$713,254$98,011$0$811,265

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$811,265
Total Expenses per Audited Statements$811,265
Total Expenses per Form 990$811,265
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$14,998$0▼ $14,998
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO 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, LINE 11B:

“Launch alaska emails the form to all members, asks for their immediate review and input, and then adds an agenda item to approve at the following board of directors meeting.”

FORM 990, PART VI, LINE 12C:

“Launch alaska has a standing agenda item at every board of directors meeting to disclose, if any exist, conflicts of interest. When someone discloses a conflict, the board discusses the best path forward for the organization and documents any remedies in the meeting minutes.”

FORM 990, PART VI, LINE 15A:

“Phone calls were made to a local organization that specializes in non-profit management to seek reasonable compensation. The board also consulted a local hr specialist and hr attorney.”

FORM 990, PART VI, LINE 19:

“The board of directors has access to these documents and can freely distribute when requested.”

Filing and Contact Details

Filer

Filer Name
Launch Alaska
EIN
47-4899425
In Care Of
% ISAAC VANDERBURG
Phone
9077523681
Address
721 Depot Drive, Anchorage, AK 99501

Signing Officer

Name
Isaac Vanderburg
Title
CEO
Signed
2021-05-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Isaac Vanderburg
Formed
2015
Legal Domicile
Ak
Voting Board Members
8
Independent Board Members
7
Employees
5
Volunteers
9

Preparer

Firm
Bdo USA Llp
Address
3601 C STREET STE 600, ANCHORAGE, AK 99503
Preparer
Nayyir Rawhani CPA
Phone
9072788878
Supplemental Narrative

Additional Explanations

Form 990, Part I, Line 1:

“Launch alaska is a 501(c)(3) that supports tech startups that can solve challenging problems in alaska. It provides the startups with training, mentorship, advice and networking opportunities. It also helps the companies identify opportunities for growth within the alaska economy, and helps them develop their marketing and communication.”

Financial Statement Notes

FROM 990, SCHEDULE D, PART X:

“Launch Alaska is exempt from federal income taxes under Section 501(c)(3) of the Internal Revenue Code. Launch Alaska is exempt from State income taxes under the Alaska Nonprofit Corporation Act. Therefore, the accompanying statements do not reflect a provision for income taxes. Although Launch Alaska is exempt from federal income taxes, any income derived from unrelated business activities is subject to the requirement of filing Federal Income Tax Form 990-T and a tax liability may be determined on these activities. Launch Alaska reports penalties and interest, if any, associated with uncertain tax positions as penalties and interest expense, respectively. With few exceptions, Launch Alaska is no longer subject to examinations by federal and state tax authorities for years before 2017.”

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IRS990/Form990PartVIISectionAGrp/PersonNm0Isaac Vanderburg
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IRS990/MissionDesc0OUR MISSION IT TO ACCELERATE THE RESOURCE REVOLUTION BY BRINGING TOGETHER ENTREPRENEURS, MEMBERS OF THE MILITARY, UTILITY OPERATORS, RESEARCHERS AND THOUGHT LEADERS TO WORK TOWARD A SHARED VISION OF ALASKA AS A THRIVING INNOVATION AND ENTREPRENEURIAL HUB. FROM DRONES TO CLIMATE CHANGE MITIGATION, AND FROM ELECTRICAL GRIDS TO CYBER SECURITY, ALASKA HOLDS VALUE AND EXPERIENCE THAT A GROWING ENTREPRENEURIAL ECOSYSTEM IS BEGINNING TO CAPTURE. LAUNCH ALASKA SEEKS COMPANIES THAT ARE INNOVATING SOLUTIONS TO MAKE OUR COMMUNITIES AND ORGANIZATIONS MORE RESILIENT WHILE TACKLING SOME OF THE WORLD'S BIGGEST ENERGY AND CLIMATE PROBLEMS.
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IRS990/OfficeExpensesGrp/TotalAmt07787
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IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt036012
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IRS990/OtherExpensesGrp/Desc0SPECIAL EVENTS
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IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt011114
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IRS990/PartialLiquidationInd0false
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IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt0965
IRS990/PayrollTaxesGrp/ProgramServicesAmt039137
IRS990/PayrollTaxesGrp/TotalAmt040102
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IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt0134
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt05452
IRS990/PensionPlanContributionsGrp/TotalAmt05586
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt0328395
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IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt00
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/PrincipalOfficerNm0ISAAC VANDERBURG
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IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0541900
IRS990/ProgramServiceRevenueGrp/Desc0RIGOR TECH SUPPORT CONTRACT
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IRS990/PYExcessBenefitTransInd0false
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IRS990/PYInvestmentIncomeAmt00
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IRS990/PYSalariesCompEmpBnftPaidAmt0414420
IRS990/PYTotalExpensesAmt0588225
IRS990/PYTotalProfFndrsngExpnsAmt00
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IRS990/RentalIncomeOrLossGrp/RealAmt00
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IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
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IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt0276070
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt0-88446
IRS990/SavingsAndTempCashInvstGrp/BOYAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
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IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01815893
IRS990ScheduleA/TotalSupportAmt01819649
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IRS990/ScheduleBRequiredInd0true
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IRS990ScheduleD/FederalIncomeTaxLiabilityAmt00
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/RevenueSubtotalAmt0706479
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Launch Alaska is exempt from federal income taxes under Section 501(c)(3) of the Internal Revenue Code. Launch Alaska is exempt from State income taxes under the Alaska Nonprofit Corporation Act. Therefore, the accompanying statements do not reflect a provision for income taxes. Although Launch Alaska is exempt from federal income taxes, any income derived from unrelated business activities is subject to the requirement of filing Federal Income Tax Form 990-T and a tax liability may be determined on these activities. Launch Alaska reports penalties and interest, if any, associated with uncertain tax positions as penalties and interest expense, respectively. With few exceptions, Launch Alaska is no longer subject to examinations by federal and state tax authorities for years before 2017.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0FROM 990, SCHEDULE D, PART X:
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IRS990ScheduleD/TotalLiabilityAmt00
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IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$162,116
Liabilities
$250,562
Net assets
-$88,446
Revenue
$706,479
Expenses
$811,265
Net income
-$104,786
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.65$0.74$0.09$2.53$2.63$0.10
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.21$0.27$0.06$2.76$2.47$0.29
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.12$0.49$0.37$1.98$1.98$0.01
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.17$0.54$0.37$0.85$1.12$0.27
2020Detailed filing. Detailed filing data is available for this year.$0.16$0.25$0.09$0.71$0.81$0.10
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.34$0.06$0.28$0.69$0.59$0.11
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2020 filings • 501(c)3 • $500k-$1M nonprofits