Civic Intelligence

Aclt P1 Inc

990 • Fiscal year 2019 • EIN 83-3566699

Jan 01, 2019 to Dec 31, 2019 • Filed on Nov 13, 2020

Organization Profilewww.anchoragelandtrust.org
3701 Mountain View DrAnchorage, AK 99508

(907) 748-5848

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Up

$5,539,006

Up $286,226 (+5.4%) from 2018

Net Assets

Up

$4,162,665

Up $259,948 (+6.7%) from 2018

Liabilities

Up

$1,376,341

Up $26,278 (+1.9%) from 2018

Revenue And Expenses

Revenue

Down

$176,113

Down $9,354 (-5.0%) from 2018

Expenses

Flat

$0

Flat from 2018

Net Income

Down

$176,113

Down $9,354 (-5.0%) from 2018

Historical Trend

Balance Sheet Trend

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

$6.0M$4.0M$2.0M$0Assets 2017: $1Liabilities 2017: $02017Assets 2018: $5,252,780Liabilities 2018: $1,350,063Net Assets 2018: $3,902,7172018Assets 2019: $5,539,006Liabilities 2019: $1,376,341Net Assets 2019: $4,162,6652019Assets 2020: $5,669,644Liabilities 2020: $1,357,381Net Assets 2020: $4,312,2632020Assets 2021: $5,837,858Liabilities 2021: $1,267,494Net Assets 2021: $4,570,3642021Assets 2022: $5,827,848Liabilities 2022: $1,244,938Net Assets 2022: $4,582,9102022Assets 2023: $4,012,054Liabilities 2023: $270,474Net Assets 2023: $3,741,5802023Assets 2024: $3,854,872Liabilities 2024: $256,296Net Assets 2024: $3,598,5762024

Highlighted filing

2019

Assets$5,539,006
Liabilities$1,376,341
Net Assets$4,162,665
Open 2019 Filing

Operations Trend

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

$400K$300K$200K$100K$0Revenue 2017: $0Expenses 2017: $0Net Income 2017: $02017Revenue 2018: $185,467Expenses 2018: $0Net Income 2018: $185,4672018Revenue 2019: $176,113Expenses 2019: $0Net Income 2019: $176,1132019Revenue 2020: $249,598Expenses 2020: $0Net Income 2020: $249,5982020Revenue 2021: $258,101Expenses 2021: $0Net Income 2021: $258,1012021Revenue 2022: $383,793Expenses 2022: $0Net Income 2022: $383,7932022Revenue 2023: $314,746Expenses 2023: $0Net Income 2023: $314,7462023Revenue 2024: $218,736Expenses 2024: $0Net Income 2024: $218,7362024

Highlighted filing

2019

Revenue$176,113
Expenses$0
Net Income$176,113
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 13, 2020
Return Version
2019v5.0
Gross Receipts
$876,462
Mission and Program Overview

Mission

Hold Title to the property at 161 Klevin Street, formerly owned by ACLT Properties 1, LLC, wholly owned by the Anchorage Community Land Trust

Hold title to the property at 161 Klevin Street, formerly owned by ACLT Properties 1, LLC, wholly owned by The Anchorage Community Land Trust.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$5,219,051$5,030,076▼ $188,975
Savings and Temporary Cash Investments-$326,857-
Cash and Non-Interest-Bearing Accounts$29,507$175,391▲ $145,884
Prepaid Expenses and Deferred Charges$4,222$6,682▲ $2,460
Accounts Receivable-$0-
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-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$5,252,780$5,539,006▲ $286,226
Other Assets Total-$0-
Liabilities
Mortgage Notes Payable Secured by Investment Property$977,000$977,000→ $0
Other Liabilities$332,710$319,753▼ $12,957
Accounts Payable and Accrued Expenses$40,353$79,588▲ $39,235
Total Liabilities$1,350,063$1,376,341▲ $26,278
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$3,902,717$4,162,665▲ $259,948
Total Net Assets Fund Balance$3,902,717$4,162,665▲ $259,948
Total Liabilities and Net Assets / Fund Balance$5,252,780$5,539,006▲ $286,226

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$4,388,373$4,489,045$8,877,418
Land$630,200-$630,200
Equipment$11,503$379,399$390,902
Compensation and Service Providers

Employees

NameTitleOtherTotal
Kirk RoseCEO$101,777$101,777

Board Members and Trustees

NameTitle
Katie St JohnPresident
Barry EvansDirector
Laura RevelsDirector
Tom NewinsDirector
Tyler RobinsonDirector
Yaso ThiruDirector
Judith CrottySecretary
Angela JimenezTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$170
Other Revenue
$175,943
Change in Net Assets
$176,113

Audited Revenue Reconciliation

Revenue per Audited Statements
$176,113
Revenue Not Reported on Form 990
$-616,514
Total Revenue per Audited Statements
$-440,401
Total Revenue per Form 990
$176,113
Expenses and Functional Allocation

Major Expense Lines

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

Audited Expense Reconciliation

Line ItemAmount
Expenses Not Reported on Form 990$700,349
Total Expenses per Audited Statements$700,349
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

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
Equity Option Agreement$268,333
Prepaid Rents$51,420
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
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder

“The sole stockholder (par value $0.00) is the Anchorage Community Land Trust.”

Form 990, Part VI, Line 11B: Form 990 Review Process

“The form 990 is reviewed by the CEO before it is filed.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“Declarations are made at each board meeting.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“All documents are available upon request at the corporate offices.”

Filing and Contact Details

Filer

Filer Name
ACLT P1 Inc
EIN
83-3566699
Phone
9077485848
Address
3701 Mountain View Dr, Anchorage, AK 99508

Signing Officer

Name
Kirk Rose
Title
CEO
Signed
2020-11-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kirk Rose
Formed
2017
Legal Domicile
Ak
Voting Board Members
8
Independent Board Members
8
Employees
0
Volunteers
8

Preparer

Firm
Altman Rogers & Co
Address
3000 C Street Suite 201, Anchorage, AK 99503
Preparer
Tom J Domagala CPA
Phone
9072742992
Supplemental Narrative

Additional Explanations

Other Changes In Net Assets Or Fund Balances - Other Increases

“Capital Contribution from Anchorage Community Land Trust = $83835”

Financial Statement Notes

Part X : FIN48 Footnote

“Anchorage Community Land Trust is exempt from federal income taxes under Section 501(c)(3) of the Internal Revenue Code. P1, Inc, and P2, Inc, are exempt from federal income taxes under Section 501(c)(2) of the Internal Revenue Code. ACLT Properties 1, LLC, and P3, LLC, are for-profit limited liability companies which may generate some unrelated business income tax from LLC operation that do not meet the exempt purpose of Anchorage Community Land Trust.Management and those charged with governance do not believe there have been any unrelated business activities in 2019 and 2018, therefore no provision for income taxes has been included in the accompanying financial statements.The Organization applies the provisions of Topic 740 of the FASB Accounting Standards Codification relating to accounting for uncertainty in income taxes and annually reviews its tax positions taken in accordance with the recognition standards. ACLT classifies all interest and penalties related to tax contingencies as income tax expense. As of December 31, 2019 and 2018, there were no accrued interest or penalties related to tax contingencies. As of December 31, 2019 and 2018 there were no uncertain tax positions or unrecognized tax benefits for which management believes it is reasonably possible that the total amounts of tax contingencies will significantly increase or decrease within 12 months of the reporting date. Anchorage Community Land Trust, ACLT Properties 1, LLC, P1 Inc, P2 Inc, and P3, LLC, files tax returns in the U.S. Federal Jurisdiction and the State of Alaska. As of 2019, the tax years that remain subject to examination begins with 2016.”

Part XII, Line 2D: Other expenses and losses per audited F/S

“Rental Expenses Reported on Part VIII $700349”

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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Prepaid Rents
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Equity Option Agreement
IRS990ScheduleD/OtherRevenueAmt0-616514
IRS990ScheduleD/RevenueNotReportedAmt0-616514
IRS990ScheduleD/RevenueSubtotalAmt0176113
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Anchorage Community Land Trust is exempt from federal income taxes under Section 501(c)(3) of the Internal Revenue Code. P1, Inc, and P2, Inc, are exempt from federal income taxes under Section 501(c)(2) of the Internal Revenue Code. ACLT Properties 1, LLC, and P3, LLC, are for-profit limited liability companies which may generate some unrelated business income tax from LLC operation that do not meet the exempt purpose of Anchorage Community Land Trust.Management and those charged with governance do not believe there have been any unrelated business activities in 2019 and 2018, therefore no provision for income taxes has been included in the accompanying financial statements.The Organization applies the provisions of Topic 740 of the FASB Accounting Standards Codification relating to accounting for uncertainty in income taxes and annually reviews its tax positions taken in accordance with the recognition standards. ACLT classifies all interest and penalties related to tax contingencies as income tax expense. As of December 31, 2019 and 2018, there were no accrued interest or penalties related to tax contingencies. As of December 31, 2019 and 2018 there were no uncertain tax positions or unrecognized tax benefits for which management believes it is reasonably possible that the total amounts of tax contingencies will significantly increase or decrease within 12 months of the reporting date. Anchorage Community Land Trust, ACLT Properties 1, LLC, P1 Inc, P2 Inc, and P3, LLC, files tax returns in the U.S. Federal Jurisdiction and the State of Alaska. As of 2019, the tax years that remain subject to examination begins with 2016.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1Rental Expenses Reported on Part VIII $700349
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Part XII, Line 2d: Other expenses and losses per audited F/S
IRS990ScheduleD/TotalBookValueLandBuildingsAmt05030076
IRS990ScheduleD/TotalLiabilityAmt0319753
IRS990ScheduleD/TotalRevenuePerForm990Amt0176113
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0-440401
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0700349
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The sole stockholder (par value $0.00) is the Anchorage Community Land Trust.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The form 990 is reviewed by the CEO before it is filed.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Declarations are made at each board meeting.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3All documents are available upon request at the corporate offices.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Capital Contribution from Anchorage Community Land Trust = $83835
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Other Changes In Net Assets Or Fund Balances - Other Increases
IRS990ScheduleR/AssetExchangeInd0false
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0true
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd1false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt0Anchorage Community Land Trust
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt1Anchorage Community Land Trust
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0ACLT P2 Inc
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt1Anchorage Community Land Trust
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0833566954
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN1280461014
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(c)(2)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt1501(c)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0AK
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd1AK
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0Rental Property
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt1Community Development
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt010
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt03701 Mountain View Dr
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt13701 Mountain View Dr
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0Anchorage
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm1Anchorage
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0AK
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd1AK
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd099508
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd199508
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd0false
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0true
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0true
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0true
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt083835
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0Cash payment
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0Anchorage Community Land Trust
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0c
IRS990ScheduleR/TransferFromOtherOrgInd0false
IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt05252780
IRS990/TotalAssetsEOYAmt05539006
IRS990/TotalAssetsGrp/BOYAmt05252780
IRS990/TotalAssetsGrp/EOYAmt05539006
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt00
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01350063
IRS990/TotalLiabilitiesEOYAmt01376341
IRS990/TotalLiabilitiesGrp/BOYAmt01350063
IRS990/TotalLiabilitiesGrp/EOYAmt01376341
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt03902717
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt04162665
IRS990/TotalProgramServiceRevenueAmt00
IRS990/TotalRevenueGrp/ExclusionAmt0176113
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0176113
IRS990/TotalVolunteersCnt08
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt05252780
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt05539006
IRS990/TotReportableCompRltdOrgAmt0101777
IRS990/TravelGrp/TotalAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt03701 Mountain View Dr
IRS990/USAddress/CityNm0Anchorage
IRS990/USAddress/StateAbbreviationCd0AK
IRS990/USAddress/ZIPCd099508
IRS990/VotingMembersGoverningBodyCnt08
IRS990/VotingMembersIndependentCnt08
IRS990/WebsiteAddressTxt0www.anchoragelandtrust.org
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02022-01-07 14:23:13Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Kirk Rose
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CEO
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-11-13
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0ACLT P1 Inc
ReturnHeader/Filer/BusinessNameControlTxt0ACLT

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$5,539,006
Liabilities
$1,376,341
Net assets
$4,162,665
Revenue
$176,113
Expenses
$0
Net income
$176,113
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.85$0.26$3.60$0.22$0.00$0.22
2023Detailed filing. Detailed filing data is available for this year.$4.01$0.27$3.74$0.31$0.00$0.31
2022Detailed filing. Detailed filing data is available for this year.$5.83$1.24$4.58$0.38$0.00$0.38
2021Detailed filing. Detailed filing data is available for this year.$5.84$1.27$4.57$0.26$0.00$0.26
2020Detailed filing. Detailed filing data is available for this year.$5.67$1.36$4.31$0.25$0.00$0.25
2019Detailed filing. Detailed filing data is available for this year.$5.54$1.38$4.16$0.18$0.00$0.18
2018Summary only. Only limited summary data is available for this year.$5.25$1.35$3.90$0.19$0.00$0.19
2017Summary only. Only limited summary data is available for this year.$0.00$0.00$0.00$0.00$0.00