2024-05-14T11:28:51-05:00 2023-06-30 450250958 Eide Bailly LLP 800 Nicollet Mall Ste 1300 Minneapolis MN 554027033 990 2022-07-01 460942043 Alaska Corporation for Affordable Housing ALAS 9073308416 4300 Boniface Parkway Anchorage AK 99504 Bryan Butcher President 9073308416 2024-05-13 1 Bryan Butcher 999009999 1 Kim Hunwardsen CPA P00484560 6122536500 2024-05-13 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z Bryan Butcher 4300 Boniface Parkway Anchorage AK 99504 13889658 0 X www.ahfc.us X 2012 AK The corporation provides affordable housing for low income households. 8 8 0 11 0 0 161030 13454502 319982 430793 4119 4363 0 0 485131 13889658 0 0 0 0 139783 118464 0 0 0 514314 86991 654097 205455 -168966 13684203 29559235 43840762 5024118 5621442 24535117 38219320 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. 0 0 192097 430793 A total of 88 units of affordable housing were completed in prior fiscal years. In the current fiscal year 18 units of affordable housing in Fairbanks Alaska were completed. Current year program revenues and expenses are related to the development and management of the 106 units of affordable housing for low income households, as well as the development of new units located in Fairbanks Alaska that are expected to be ready for occupation in 2024. 192097 1 1 0 0 0 0 0 0 1 0 1 0 0 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 1 X 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 8 8 0 0 0 0 1 1 0 1 0 0 0 0 1 1 1 0 0 0 0 0 X Aireen Amad-Antes 9073308338 4300 Boniface Parkway Anchorage AK 99504 Brent Levalley Board of Directors Chair Officer 1.00 1.00 X X 0 0 0 Jess Hall Secretary and Treasurer 1.00 1.00 X X 0 0 0 Allen Hippler Director 1.00 1.00 X 0 0 0 Adam Crum Director 1.00 1.00 X 0 0 0 Heidi Hedberg Director 1.00 1.00 X 0 0 0 Julie Sande Director 1.00 1.00 X 0 0 0 Sandra Moller Director 1.00 1.00 X 0 0 0 David Pruhs Director 1.00 1.00 X 0 0 0 Vivian Stiver Director 1.00 1.00 X 0 0 0 Bryan Butcher President 1.00 39.00 X 0 326734 117443 Catherine Stone Vice President 1.00 39.00 X 0 202606 93293 Mark Romick Vice President 1.00 39.00 X 0 92275 27529 0 621615 238265 0 0 1 0 0 454502 13000000 13454502 Rental Income 531110 250252 250252 Mortgage Interest 531390 142173 142173 Development Fees 531390 23968 23968 Management Fees 531390 14400 14400 430793 4363 4363 13889658 430793 0 4363 80168 80168 17629 17629 12346 12346 8321 8321 1774 1774 6200 6200 5757 5757 6182 6182 1401 1401 11185 11185 Consulting Services 39719 39719 Provision for Loan Loss 11319 11319 Garbage 2252 2252 Property Tax 1202 1202 205455 192097 13358 0 8207671 9423021 3480962 3455224 13017385 26147559 2508 2892 4740487 4740487 4740487 110222 71579 29559235 43840762 0 600000 242974 219786 4781144 4801656 5024118 5621442 X 0 0 4740487 4740487 19794630 33478833 24535117 38219320 29559235 43840762 13684203 0 X X 0 1 X 1 0 X 10479 1666982 618465 161030 13454502 15911458 10479 1666982 618465 161030 13454502 15911458 15911458 70429 41740 10142 4119 4363 130793 16042251 2130922 0.99180 0.92620 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 4740487 4740487 4740487 Notes payable to AHFC 1423153 Deferred inflow of resources 3262375 Security deposit 4600 Accounts Payable to AHFC 111528 4801656 13889658 0 13889658 0 13889658 205455 0 205455 0 205455 Part IV, Line 2b: Escrow accounts held by the corporation are included in Line 2 on the Form 990, Part X. The Escrow Liability is for developer fees to be paid to development partners depending upon the cash flow of the two affordable housing properties that were developed by the corporation in 2015, pursuant to the development agreement. 0 0 0 0 0 0 0 0 0 Bryan Butcher President 0 326734 0 0 0 0 0 68727 0 48716 0 444177 0 14337 Catherine Stone Vice President 0 202606 0 0 0 0 0 44573 0 48719 0 295898 0 0 Part I, Line 3 The corporation's executives are employees of Alaska Housing Finance Corporation and their compensation is determined by Alaska Housing Finance Corporation. No part of their compensation is paid by the corporation. Part II, Column C The executive team is part of a defined benefit retirement plan operated by the state of Alaska. Actual employer contributions are used in Schedule J and Part VII of the Form 990 due to actuarial change data not being available on an individual basis. Form 990, Part V, Line 2a: The Corporation incurs salary and other personnel costs, but does not file a W-3 or issue a W-2, since the employee is paid by the Alaska Housing Finance Corporation under the "common paymaster rule" as defined under IRC Section 3121(S). Form 990, Part VI, Section A, line 6 The corporation has one member, Alaska Housing Finance Corporation. Form 990, Part VI, Section A, line 7a Per the corporation's Articles of Incorporation, the Board will consist of the same directors as the sole member's (Alaska Housing Finance Corporation) Board. Form 990, Part VI, Section A, line 8b There are no committees with authority to act on behalf of the governing body. Form 990, Part VI, Section B, line 11b An internal accountant prepares the 990 using the Fiscal Year trial balance. It is compared to the audited financial statements to ensure accuracy. The financial reporting manager reviews the work done by the accountant and approves or requests corrections. The return is next reviewed by an outside CPA firm. The controller then provides a final review and approval. Form 990, Part VI, Section B, line 12c All directors and officers are required to sign a conflict of interest certification annually. They are also required to notify the President or Chairman of any conflict that arises during the year. The corporation also files a quarterly report of activities that outlines if any conflicts of interest were reported or identified during the prior quarter. If a conflict is identified, the board members recuse themselves from voting on the issue where the conflict exists. Form 990, Part VI, Section B, line 15 The President is an employee of Alaska Housing Finance Corporation and does not receive compensation from Alaska Corporation for Affordable Housing. The Vice President is an employee of Alaska Housing Finance Corporation and does not receive compensation from Alaska Corporation for Affordable Housing. Form 990, Part VI, Section C, line 19 All governing documents and policies are available upon request. The audited financial statements are posted on the Alaska Housing Finance Corporation's website. Form 990, Part XII, Line 3: The $13mm received from HUD held reserve AHFC funds MTW program which were paid directly to FAH. The funds did not get deposited into ACAH's bank account, but ACAH needed to recognize this payment from HUD as income. ACAH loaned out the funds to FAH and booked a loan receivable. This transaction was excluded from the single audit since neither ACAH nor AHFC received the funds. Fairbanks Affordable Housing Partners MM LC 4300 Boniface Parkway Anchorage AK 99504 881963874 Property Management AK 0 0 ACAH Alaska Housing Finance Corporation 4300 Boniface Parkway Anchorage AK 99504 920047291 Financing AK GOVUNIT N/A N/A 0 ANC MV Phase 1 LP 3510 Spenard Rd Suite 100 Anchorage AK 99503 320432035 Property Investment AK ANC MV LLC Related -101 590605 0 1 0.00010 ANC MV LLC 3510 Spenard Rd Suite 100 Anchorage AK 99503 464585950 Property Management AK ACAH C 8767 656711 0.99990 1 Fairbanks Affordable Housing LLC 4300 Boniface Parkway Anchorage AK 99504 881976961 Property Investment AK ACAH C -20 -20 0.00010 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0