Civic Intelligence

Launch Alaska

990 • Fiscal year 2023 • EIN 47-4899425

Jul 01, 2022 to Jun 30, 2023 • Filed on May 15, 2024

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

96th percentile

1.31x

Higher debt load relative to assets than 96% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

53rd percentile

0.10x

Higher debt load relative to revenue than 53% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

62nd percentile

10%

Higher net margin than 62% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

89th percentile

$193,750

Higher top officer pay than 89% of similar nonprofits.

Top officer pay equals 7.0% of source-year revenue.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

92nd percentile

75%

Faster asset growth than 92% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

80th percentile

40%

Faster revenue growth than 80% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Assets

Up

$210,054

Up $90,176 (+75%) from 2022

Net Assets

Up

-$64,631

Up $307,484 (+83%) from 2022

Liabilities

Down

$274,685

Down $217,308 (-44%) from 2022

Revenue

Up

$2,756,735

Up $781,186 (+40%) from 2022

Expenses

Up

$2,470,379

Up $489,275 (+25%) from 2022

Net Income

Up

$286,356

Up $291,911 (+5255%) from 2022

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

2023

Assets$210,054
Liabilities$274,685
Net Assets-$64,631

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

2023

Revenue$2,756,735
Expenses$2,470,379
Net Income$286,356
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
May 15, 2024
Return Version
2022v5.0
Gross Receipts
$2,756,735
Mission and Program Overview

Mission

See Schedule O

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$-53,893$125,621▲ $179,514
Pledges and Grants Receivable$99,912$0▼ $99,912
Accounts Receivable$73,859$84,433▲ $10,574
Loans From Officers Directors$55,000$0▼ $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→ $0
Rtn Earn Endowment Incm Other Fnds$-372,115$-64,631▲ $307,484
Total Assets$119,878$210,054▲ $90,176
Other Assets Total$0$0→ $0
Liabilities
Accounts Payable and Accrued Expenses$390,293$256,641▼ $133,652
Deferred Revenue$46,700$0▼ $46,700
Unsecured Notes Loans Payable$0$18,044▲ $18,044
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Other Liabilities$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$491,993$274,685▼ $217,308
Net Assets / Fund Balance
Total Net Assets Fund Balance$-372,115$-64,631▲ $307,484
Total Liabilities and Net Assets / Fund Balance$119,878$210,054▲ $90,176
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Rob RoysChief Innovation OfficerFT$176,452$17,298$193,750
Isaac VanderburgVice President, CEOFT$156,238$17,945$174,183
Frances BallChief Operations OfficerFT$138,423$18,793$157,216
Timothy LeachTransportation LeadFT$130,682$13,757$144,439
Pam KauveiyakulChief Partnerships OfficerFT$123,104$18,939$142,043
Brij Hall-PotnisDeployment LeadFT$125,975$13,522$139,497
Penny GageManaging DirectorFT$121,659$15,480$137,139

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
Revenue and Support

Revenue Composition

Contributions and Grants
$2,161,001
Program Service Revenue
$583,880
Investment Income
$0
Other Revenue
$11,854
All Other Contributions
$114,125
Change in Net Assets
$286,356
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,560,424
Other Expenses$846,301
Grants and Similar Amounts Paid$63,654
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$644,155$287,860-$932,015
Fees for Services Other$534,245$2,008-$536,253
Other Salaries and Wages$343,649$153,569-$497,218
Fees for Services Accounting$9,818$104,508-$114,326
Payroll Taxes$77,386$34,571-$111,957
Grants to Domestic Orgs$63,654--$63,654
Information Technology$28,759$2,394-$31,153
Conferences and Meetings$14,946$11,121-$26,067
Travel$15,849$3,442-$19,291
Office Expenses$1,242$13,637-$14,879
Insurance-$14,560-$14,560
Advertising$8,246$3,395-$11,641
Pension Plan Contributions$7,071$3,160-$10,231
Other Employee Benefits$6,223$2,780-$9,003
Occupancy$3,484$1,309-$4,793
All Other Expenses$1,040$2,146-$3,186
Other Expenses$1,100$809-$1,909
Fees for Services Legal-$835-$835
Total Functional Expenses$1,854,105$616,274$0$2,470,379
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Center for Transportation and the EnvironmentAtlanta, GA501(c)(3)Subaward$35,089
Alaska Electric Vehicle AssociationAnchorage, AK501(c)(3)Subaward$28,565
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
Yes
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$55,000$0▼ $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
2024-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Isaac Vanderburg
Voting Board Members
8
Independent Board Members
7
Employees
11
Volunteers
8

Preparer

Firm
Bdo USA
Address
3601 C STREET STE 600, ANCHORAGE, AK 99503
Preparer
Matthew Frerker 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.

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:536253

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IRS990/Form990PartVIISectionAGrp/TitleTxt0Chief Innovation Officer
IRS990/Form990PartVIISectionAGrp/TitleTxt1Vice President, CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt2Chief Operations Officer
IRS990/Form990PartVIISectionAGrp/TitleTxt3Transportation Lead
IRS990/Form990PartVIISectionAGrp/TitleTxt4Chief Partnerships Officer
IRS990/Form990PartVIISectionAGrp/TitleTxt5Deployment Lead
IRS990/Form990PartVIISectionAGrp/TitleTxt6Managing Director
IRS990/Form990PartVIISectionAGrp/TitleTxt7Board President
IRS990/Form990PartVIISectionAGrp/TitleTxt8Treasurer
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