2025-05-15T18:24:33-05:00 2024-06-30 450250958 Eide Bailly LLP 877 W Main St Ste 800 Boise ID 837025858 990 2023-07-01 460942043 Alaska Corporation for Affordable Housing ALAS 9073308416 4300 Boniface Parkway Anchorage AK 99504 Bryan Butcher President 9073308416 2025-05-15 1 1 Kimberly C Nelson CPA P01887713 2083447150 2025-05-14 2023 2025-03-06 01:10:19Z Bryan Butcher 4300 Boniface Parkway Anchorage AK 99504 2395702 0 X www.ahfc.us X 2012 AK The corporation provides affordable housing for low income households. 9 9 0 11 0 0 13454502 811264 430793 1043569 4363 540869 0 0 13889658 2395702 0 0 0 0 118464 159351 0 0 0 86991 7388885 205455 7548236 13684203 -5152534 43840762 37903464 5621442 4836678 38219320 33066786 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 7526265 1043569 A total of 106 units of affordable housing were completed in prior fiscal years. 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 2025. Also, funds were expended to begin a new development in Valdez, Alaska. 7526265 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 9 9 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 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 Fadil Limani Director 1.00 1.00 X 0 0 0 Bryan Butcher President 1.00 39.00 X 0 342631 124095 Catherine Stone Vice President 1.00 39.00 X 0 218970 96893 Vasilios Gialopsos Vice President 1.00 39.00 X 0 201434 72346 Chelsea Smith Operations and Development Manager 1.00 X 0 104843 39122 0 867878 332456 0 0 1 0 0 211264 600000 811264 Mortgage Interest 531390 895647 895647 Rental Income 531110 109554 109554 Development Fees 531390 23968 23968 Management Fees 531390 14400 14400 1043569 302074 302074 238795 0 238795 238795 238795 2395702 1043569 0 540869 107472 107472 23652 23652 17887 17887 10340 10340 2763 2763 10498 10498 1316 1316 6295 6295 10157 10157 14398 14398 Provision for Loan Loss 7257029 7257029 Engineering/Architect 46894 46894 Consulting Services 37516 37516 Property Tax 1030 1030 989 989 7548236 7526265 21971 0 9423021 8227512 3455224 4006208 26147559 19724470 2892 3489 5119359 4740487 5119359 71579 822426 43840762 37903464 600000 0 219786 202788 4801656 4633890 5621442 4836678 X 0 0 4740487 5119359 33478833 27947427 38219320 33066786 43840762 37903464 -5152534 0 X 0 1 X 1 0 X 1666982 618465 161030 13454502 811264 16712243 1666982 618465 161030 13454502 811264 16712243 16712243 41740 10142 4119 4363 302074 362438 17074681 2518947 0.97880 0.99180 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 5119359 5119359 5119359 Notes payable to AHFC 1423153 Deferred inflow of resources 3152821 Security deposit 4600 Accounts payable to AHFC 53081 Accounts payable to Fairbanks Affordable Housing 235 4633890 2395702 0 2395702 0 2395702 7548236 0 7548236 0 7548236 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 342631 0 0 0 0 0 75379 0 48716 0 466726 0 0 Catherine Stone Vice President 0 218970 0 0 0 0 0 48174 0 48719 0 315863 0 0 Vasilios Gialopsos Vice President 0 201434 0 0 0 0 0 44315 0 28031 0 273780 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 Presidents are employees of Alaska Housing Finance Corporation and do 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. 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 -87 602889 0 1 0.00010 ANC MV LLC 3510 Spenard Rd Suite 100 Anchorage AK 99503 464585950 Property Management AK ACAH C 6007 673692 0.99990 1 Fairbanks Affordable Housing LLC 4300 Boniface Parkway Anchorage AK 99504 881976961 Property Investment AK ACAH C -51 -68 0.00010 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0