Alaska Corporation for Affordable Housing

Nonprofit profile at a glance

EIN
460942043
IRS 990 coverage
2012–2024
Forms available
Form 990 2024, Form 990-N 2013
Location
Anchorage, AK, USA
Phone
9073308416
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Official website

Reported finances

Revenue
$13,904,288
Expenses
$9,037,022
Assets
$43,540,748
Liabilities
$5,606,696

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

14 people listed

Executive titles in this filing

  • Bryan Butcher (President)
  • Catherine Stone (Vice President)
  • Vasilios Gialopsos (Vice President)

Highest reported compensation

  • Bryan Butcher (President): $520,724 total reported compensation
  • Catherine Stone (Vice President): $330,486 total reported compensation
  • Vasilios Gialopsos (Vice President): $328,925 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The corporation's mission is to undertake the types of affordable housing and services that are not open to Alaska Housing directly, but support Alaska Housing's mission of providing affordable housing and services to individuals and groups in need.

What it reported doing in 2024

A total of 106 units of affordable housing were completed in prior fiscal years. 40 units of family housing were put into operation in the current year for a total of 146 units of affordable housing in operation. Revenues and expenses are related to the development and management of the 146 units of affordable housing for low income households, as well as the development of 20 new units located in Valdez, Alaska that are expected to be ready for occupation in 2026.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 69
  • Transparency & Controls: 69
  • Accountability: 79
  • Sustainability: 82
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 65%; rating input score 65
  • Program expense ratio: 99.1%; rating input score 99
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 35%; rating input score 90; 90th percentile among comparable filings
  • Total-asset coverage ratio: 4.82; rating input score 84; 84th percentile among comparable filings
  • Liabilities to assets ratio: 0.13; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 4.2%; rating input score 58; 58th percentile among comparable filings

Growth

  • Program expense growth: 25.7% per year; rating input score 100; 94th percentile among comparable filings
  • Revenue growth: 18.5% per year; rating input score 100; 91st percentile among comparable filings
  • Asset growth: 11.7% per year; rating input score 100; 71st percentile among comparable filings

Details

  • Where the money goes: 65% of revenue deployed · 99.1% of spending went to programs
  • Governance: 9 of 9 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $9M in reported program spending
  • Leadership: top reported pay $521K · 14 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 28 of 28 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 11 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 7 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 4 of 8 not reported.
  • Review — Sustainability: Officer compensation ratio scored 58/100.