Civic Intelligence

Aclt P2 Inc

990 • Fiscal year 2019 • EIN 83-3566954

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

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

Liabilities / Assets

36th percentile

0.02x

Higher debt load relative to assets than 36% of similar nonprofits.

2019 filings • 501(c)2 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

59th percentile

1.73x

Higher debt load relative to revenue than 59% of similar nonprofits.

2019 filings • 501(c)2 • $1M-$5M nonprofits • Source year 2019

Net Margin

97th percentile

100%

Higher net margin than 97% of similar nonprofits.

2019 filings • 501(c)2 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

63rd percentile

$101,777

Higher top officer pay than 63% of similar nonprofits.

Top officer pay equals 973.0% of source-year revenue.

2019 filings • 501(c)2 • $1M-$5M nonprofits • Source year 2019

Asset Growth

9th percentile

-7.7%

Faster asset growth than 9% of similar nonprofits.

2019 filings • 501(c)2 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

Score unavailable

No value available

A valid growth rate could not be computed from the available filing history.

Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets36th percentile

Assets

Down

$1,202,163

Down $99,867 (-7.7%) from 2018

Net Assets

Down

$1,184,041

Down $91,184 (-7.2%) from 2018

Liabilities

Down

$18,122

Down $8,683 (-32%) from 2018

Revenue And Expenses
Liabilities / Revenue59th percentileNet Margin97th percentile

Revenue

Up

$10,460

Up $34,170 (+144%) from 2018

Expenses

Flat

$0

Flat from 2018

Net Income

Up

$10,460

Up $34,170 (+144%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth9th percentile

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

$1.5M$1.0M$500K$0Assets 2017: $1Liabilities 2017: $02017Assets 2018: $1,302,030Liabilities 2018: $26,805Net Assets 2018: $1,275,2252018Assets 2019: $1,202,163Liabilities 2019: $18,122Net Assets 2019: $1,184,0412019Assets 2020: $1,144,476Liabilities 2020: $18,671Net Assets 2020: $1,125,8052020Assets 2021: $1,072,203Liabilities 2021: $14,015Net Assets 2021: $1,058,1882021Assets 2022: $1,076,600Liabilities 2022: $30,002Net Assets 2022: $1,046,5982022Assets 2023: $807,467Liabilities 2023: $8,050Net Assets 2023: $799,4172023Assets 2024: $772,042Liabilities 2024: $6,411Net Assets 2024: $765,6312024

Highlighted filing

2019

Assets$1,202,163
Liabilities$18,122
Net Assets$1,184,041
Open 2019 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$20K$0-$20K-$40K-$60K-$80KRevenue 2017: $0Expenses 2017: $0Net Income 2017: $02017Revenue 2018: -$23,710Expenses 2018: $0Net Income 2018: -$23,7102018Revenue 2019: $10,460Expenses 2019: $0Net Income 2019: $10,4602019Revenue 2020: -$58,236Expenses 2020: $0Net Income 2020: -$58,2362020Revenue 2021: -$67,617Expenses 2021: $0Net Income 2021: -$67,6172021Revenue 2022: -$15,771Expenses 2022: $0Net Income 2022: -$15,7712022Revenue 2023: -$21,753Expenses 2023: $0Net Income 2023: -$21,7532023Revenue 2024: -$22,299Expenses 2024: $0Net Income 2024: -$22,2992024

Highlighted filing

2019

Revenue$10,460
Expenses$0
Net Income$10,460
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
$204,007
Mission and Program Overview

Mission

The Corporation is required to collect income from its rental property, and to turn over the entire income, less expenses, to the Anchorage Community Land Trust or other organization(s) exempt under 501(a); expenses include maintenance, debt service, reserves, and other expenses proper for a corporation holding title to real property.

Hold title to the property located at 4133 Mountain View Drive, 3701 Mountain View Drive, and 3709 Mountain View Drive (altogether, the "Properties") formerly owned by The Anchorage Community Land Trust.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,251,181$1,145,168▼ $106,013
Cash and Non-Interest-Bearing Accounts$34,860$41,363▲ $6,503
Accounts Receivable$15,989$14,447▼ $1,542
Prepaid Expenses and Deferred Charges-$1,185-
Savings and Temporary Cash Investments-$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$1,302,030$1,202,163▼ $99,867
Other Assets Total-$0-
Liabilities
Other Liabilities$15,467$15,581▲ $114
Accounts Payable and Accrued Expenses$11,338$2,541▼ $8,797
Total Liabilities$26,805$18,122▼ $8,683
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,275,225$1,184,041▼ $91,184
Total Net Assets Fund Balance$1,275,225$1,184,041▼ $91,184
Total Liabilities and Net Assets / Fund Balance$1,302,030$1,202,163▼ $99,867

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$866,568$804,114-
Land$278,600--
Compensation and Service Providers
Top Officer Pay63rd percentile

Employees

NameTitleOtherTotal
Kirk RoseCEO$101,777$101,777

Board Members and Trustees

NameTitle
Tom NewinsPresident
Judith CrottyDirector
Katie St JohnDirector
Laura RevelsDirector
Yaso ThiruDirector
Tyler RobinsonSecretary
Angela JimenezTreasurer
Julie TaylorTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$10,460
Change in Net Assets
$10,460

Audited Revenue Reconciliation

Revenue per Audited Statements
$204,007
Revenue Not Reported on Financial Statements
$-193,547
Other Revenue Adjustments
$-193,547
Total Revenue per Audited Statements
$204,007
Total Revenue per Form 990
$10,460
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$295,191
Total Expenses per Audited Statements$295,191
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
Prepaid Rent$11,127
Tenant Security Deposits$4,454
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

“No review was or will be conducted.”

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 P2 Inc
EIN
83-3566954
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
2018
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 Decreases

“Capital Distributions to Anchorage Community Land Trust = -$101644”

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

“Capital Distributions to Anchorage Commu $101644 Rental Expenses reported on part VIII $193547”

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IRS990ScheduleD/OtherRevenuesNotIncludedAmt0-193547
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt0-193547
IRS990ScheduleD/RevenueSubtotalAmt0204007
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/ExplanationTxt1Capital Distributions to Anchorage Commu $101644 Rental Expenses reported on part VIII $193547
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Part XII, Line 2d: Other expenses and losses per audited F/S
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01145168
IRS990ScheduleD/TotalLiabilityAmt015581
IRS990ScheduleD/TotalRevenuePerForm990Amt010460
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0204007
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0295191
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The sole stockholder (par value $0.00) is the Anchorage Community Land Trust.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1No review was or will be conducted.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Declarations are made at each board meeting.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3All documents are available upon request at the corporate offices.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Capital Distributions to Anchorage Community Land Trust = -$101644
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 Decreases
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(c)(3)
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0AK
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd1AK
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0Combat Community Deterioration
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt1Property Management
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt010
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt03701 Mountain View Dr
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt13701 Mountain View Drive
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm1Anchorage
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ReturnHeader/BuildTS02022-01-07 14:23:13Z
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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
$1,202,163
Liabilities
$18,122
Net assets
$1,184,041
Revenue
$10,460
Expenses
$0
Net income
$10,460
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.77$0.01$0.77$0.02$0.00$0.02
2023Detailed filing. Detailed filing data is available for this year.$0.81$0.01$0.80$0.02$0.00$0.02
2022Detailed filing. Detailed filing data is available for this year.$1.08$0.03$1.05$0.02$0.00$0.02
2021Detailed filing. Detailed filing data is available for this year.$1.07$0.01$1.06$0.07$0.00$0.07
2020Detailed filing. Detailed filing data is available for this year.$1.14$0.02$1.13$0.06$0.00$0.06
2019Detailed filing. Detailed filing data is available for this year.$1.20$0.02$1.18$0.01$0.00$0.01
2018Summary only. Only limited summary data is available for this year.$1.30$0.03$1.28$0.02$0.00$0.02
2017Summary only. Only limited summary data is available for this year.$0.00$0.00$0.00$0.00$0.00