Civic Intelligence

Launch Alaska

990 • Fiscal year 2022 • EIN 47-4899425

Jul 01, 2021 to Jun 30, 2022 • Filed on May 11, 2023

721 Depot DriveAnchorage, AK 99501

(907) 952-3681

Siviq Scores

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

Liabilities / Assets

100th percentile

4.10x

Higher debt load relative to assets than 100% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

70th percentile

0.25x

Higher debt load relative to revenue than 70% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

34th percentile

-0.3%

Higher net margin than 34% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

87th percentile

$166,774

Higher top officer pay than 87% of similar nonprofits.

Top officer pay equals 8.4% of source-year revenue.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Asset Growth

4th percentile

-31%

Faster asset growth than 4% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

93rd percentile

133%

Faster revenue growth than 93% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Assets

Down

$119,878

Down $53,756 (-31%) from 2021

Net Assets

Down

-$372,115

Down $2,804 (-0.8%) from 2021

Liabilities

Down

$491,993

Down $50,952 (-9.4%) from 2021

Revenue

Up

$1,975,549

Up $1,127,511 (+133%) from 2021

Expenses

Up

$1,981,104

Up $861,703 (+77%) from 2021

Net Income

Up

-$5,555

Up $265,808 (+98%) from 2021

Historical Trend

Balance Sheet Trend

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

2022

Assets$119,878
Liabilities$491,993
Net Assets-$372,115

Operations Trend

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

2022

Revenue$1,975,549
Expenses$1,981,104
Net Income-$5,555
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
May 11, 2023
Return Version
2021v4.2
Gross Receipts
$1,975,549
Mission and Program Overview

Mission

See Schedule O

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable$0$99,912▲ $99,912
Accounts Receivable$21,199$73,859▲ $52,660
Loans From Officers Directors$0$55,000▲ $55,000
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
Cash and Non-Interest-Bearing Accounts$152,435$-53,893▼ $206,328
Rtn Earn Endowment Incm Other Fnds$-369,311$-372,115▼ $2,804
Total Assets$173,634$119,878▼ $53,756
Other Assets Total$0$0→ $0
Liabilities
Accounts Payable and Accrued Expenses$189,447$390,293▲ $200,846
Other Liabilities$95,085$0▼ $95,085
Deferred Revenue$258,413$46,700▼ $211,713
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$542,945$491,993▼ $50,952
Net Assets / Fund Balance
Total Net Assets Fund Balance$-369,311$-372,115▼ $2,804
Total Liabilities and Net Assets / Fund Balance$173,634$119,878▼ $53,756
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Isaac VanderburgVice President, CEOFT$139,777$26,997$166,774
Rob RoysChief Innovation OfficerFT$139,132$4,400$143,532
Brij Hall-PotnisDeployment LeadFT$139,497-$139,497
Frances BallChief Operations OfficerFT$112,187$20,357$132,544
Pam KauveiyakulChief Partnerships OfficerFT$63,502$3,284$66,786
Penny GageManaging DirectorFT$43,172$8,449$51,621

Board Members and Trustees

NameTitle
Mary MinerBoard President
Angela RodellBoard Member
Dane BoysenBoard Member
Daniel MitchellBoard Member
Joe JacobsenBoard Member
Michael BourdukofskyBoard Member
Tom HsiehBoard Member
Chad EstesTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Latent Power SystemsTechnical Advising08-60 CARR STREET, Toronto, ONTARIO, Ca$160,036
Revenue and Support

Revenue Composition

Contributions and Grants
$1,764,418
Program Service Revenue
$211,131
Investment Income
$0
Other Revenue
$0
All Other Contributions
$34,897
Change in Net Assets
$-5,555
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,289,353
Other Expenses$639,840
Grants and Similar Amounts Paid$51,911
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$461,020$194,268-$655,288
Other Salaries and Wages$377,855$159,223-$537,078
Fees for Services Other$391,968$6,350-$398,318
Fees for Services Accounting$89,088$46,955-$136,043
Payroll Taxes$63,268$26,660-$89,928
Grants to Domestic Orgs$51,911--$51,911
Information Technology$27,162$1,356-$28,518
Travel$23,117$616-$23,733
Office Expenses$9,386$12,550-$21,936
Insurance-$8,687-$8,687
Conferences and Meetings$5,814$2,195-$8,009
Pension Plan Contributions$4,010$1,689-$5,699
Occupancy$4,896--$4,896
Interest-$1,811-$1,811
Other Employee Benefits$957$403-$1,360
Advertising$105$1,124-$1,229
All Other Expenses-$894-$894
Other Expenses$800$236-$236
Total Functional Expenses$1,662,423$318,681$0$1,981,104
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Alaska Electric Vehicle AssociationAnchorage, AK501(c)(3)Subaward$51,911
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$0$55,000▲ $55,000
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
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
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 B, 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, Section B, 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, Section B, 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, Section C, 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
% KATELYNN SENN
Phone
9079523681
Address
721 Depot Drive, Anchorage, AK 99501

Signing Officer

Name
Isaac Vanderburg
Title
CEO
Phone
9079523681
Signed
2023-05-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Isaac Vanderburg
Voting Board Members
9
Independent Board Members
8
Employees
9
Volunteers
9

Preparer

Firm
Bdo USA Llp
Address
3601 C STREET STE 600, ANCHORAGE, AK 99503
Preparer
Rachael Mohns EA
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.

Form 990, Part III, Line 1:

Our mission is 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.

Form 990 Part IX Line 11G

Description:consultant fees total fees:398318

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IRS990/Form990PartVIISectionAGrp/PersonNm0Isaac Vanderburg
IRS990/Form990PartVIISectionAGrp/PersonNm1Rob Roys
IRS990/Form990PartVIISectionAGrp/PersonNm2Brij Hall-Potnis
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IRS990/Form990PartVIISectionAGrp/PersonNm6Mary Miner
IRS990/Form990PartVIISectionAGrp/PersonNm7Chad Estes
IRS990/Form990PartVIISectionAGrp/PersonNm8Daniel Mitchell
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IRS990/Form990PartVIISectionAGrp/PersonNm10Michael Bourdukofsky
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IRS990/Form990PartVIISectionAGrp/PersonNm12Tom Hsieh
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IRS990/Form990PartVIISectionAGrp/TitleTxt0Vice President, CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt1Chief Innovation Officer
IRS990/Form990PartVIISectionAGrp/TitleTxt2Deployment Lead
IRS990/Form990PartVIISectionAGrp/TitleTxt3Chief Operations Officer
IRS990/Form990PartVIISectionAGrp/TitleTxt4Chief Partnerships Officer
IRS990/Form990PartVIISectionAGrp/TitleTxt5Managing Director
IRS990/Form990PartVIISectionAGrp/TitleTxt6Board President
IRS990/Form990PartVIISectionAGrp/TitleTxt7Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt8Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt9Board Member
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