2026-05-15T13:16:00-05:00 2025-06-30 450250958 Eide Bailly LLP 877 W Main St Ste 800 Boise ID 837025858 990 2024-07-01 460942043 Alaska Corporation for Affordable Housing ALAS 9073308416 4300 Boniface Parkway Anchorage AK 99504 Bryan Butcher President 9073308416 2026-05-13 1 1 Kimberly C Nelson CPA P01887713 2083447150 2026-05-11 2024 2025-03-06 01:10:19Z Bryan Butcher 4300 Boniface Parkway Anchorage AK 99504 14283160 0 X www.ahfc.us X 2012 AK The corporation provides affordable housing for low income households.Utilizing a wide range of state and federal government assistance programs 9 9 0 11 0 0 811264 8254329 1043569 732605 540869 244885 0 4672469 2395702 13904288 0 0 0 0 159351 244294 0 0 0 7388885 8792728 7548236 9037022 -5152534 4867266 37903464 43540748 4836678 5606696 33066786 37934052 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 8955454 732605 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. 8955454 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 Vice Chair 1.00 1.00 X X 0 0 0 Allen Hippler 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 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 Janelle Earls Director 1.00 1.00 X 0 0 0 Adam Crum Director (Left Mid Year) 1.00 1.00 X 0 0 0 Bryan Butcher President 1.00 39.00 X 0 381929 138795 Catherine Stone Vice President 1.00 39.00 X 0 229368 101118 Vasilios Gialopsos Vice President 1.00 39.00 X 0 237142 91783 Chelsea Smith Director of Operations 40.00 0.00 X 0 113345 44125 0 961784 375821 0 0 1 0 0 X 1062181 7192148 8254329 Mortgage Interest 531390 584683 584683 Rental Income 531110 109554 109554 Development Fees 531390 23968 23968 Management Fees 531390 14400 14400 732605 263757 263757 360000 378872 -18872 -18872 -18872 4672469 4672469 4672469 13904288 732605 0 4917354 X 163262 163262 35919 35919 32712 32712 12401 12401 5415 5415 8978 8978 40824 40824 20529 20529 6412 6412 11237 11237 16564 16564 Project Expenses 4603503 4603503 Provision for Loan Loss 4011143 4011143 Consulting Services 55678 55678 Appliances 11411 11411 1034 1034 9037022 8955454 81568 0 8227512 6499187 4006208 7984131 19724470 23049813 3489 4359 4740487 5119359 4740487 822426 1262771 37903464 43540748 0 807852 202788 186577 4633890 4612267 4836678 5606696 X 0 0 5119359 4740487 27947427 33193565 33066786 37934052 37903464 43540748 4867266 0 X 0 1 X 1 0 X 618465 161030 13454502 811264 8254329 23299590 618465 161030 13454502 811264 8254329 23299590 23299590 10142 4119 4363 302074 263757 584455 23884045 2875679 0.97550 0.97880 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 4740487 4740487 4740487 Notes payable to AHFC 1423153 Deferred inflow of resources 3043267 Security deposit 4600 Accounts payable to AHFC 141247 4612267 13923160 0 13923160 -18872 -18872 13904288 9055894 0 9055894 -18872 -18872 9037022 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. Part XI, Line 4b Loss on sale of land was reported as an expense on the audited financial statements but included in revenue on the 990. Part XII, Line 4b Loss on sale of land was reported as an expense on the audited financial statements but included in revenue on the 990. 0 0 0 0 0 0 0 0 0 Bryan Butcher President 0 381929 0 0 0 0 0 80419 0 58376 0 520724 0 0 Catherine Stone Vice President 0 229368 0 0 0 0 0 50450 0 50668 0 330486 0 0 Vasilios Gialopsos Vice President 0 237142 0 0 0 0 0 52117 0 39666 0 328925 0 0 Chelsea Smith Director of Operations 0 113345 0 0 0 0 0 24896 0 19229 0 157470 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. Form 990, Part VIII, Line 11D: The other revenue consists of outstanding receivable from Fairbanks Affordable Housing (FAH) owed to the corporation. The corporation upfronted funds to pay expenses on behalf of FAH during the year and have not been reimbursed at year-end. Also included in other revenue are funds received from Valdez Affordable Housing for prior period costs that were not booked previously as revenue. Form 990, Part IX, Line 24E: The other expenses relate to payments of expenditures the corporation made during the year on behalf of Fairbanks affordable housing (FAH). These payments have not been reimbursed at end of the year. See above note regarding section VIII Line 11D. Fairbanks Affordable Housing Partners MM LLC 4300 Boniface Parkway Anchorage AK 99504 881963874 Property Management AK 0 0 ACAH Valdez Affordable Housing Partners MM LLC 4300 Boniface Parkway Anchorage AK 99504 331458007 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 -108 613687 0 1 0.00010 Fairbanks Affordable Housing LLC 4300 Boniface Parkway Anchorage AK 99504 881976961 Property Investment AK ACAH Related -201 19329472 0 1 0.00010 ANC MV LLC 3510 Spenard Rd Suite 100 Anchorage AK 99503 464585950 Property Management AK ACAH C 6671 666680 0.99990 1 Valdez Affordable Housing LLC 4300 Boniface Parkway Anchorage AK 99504 331458007 Real Estate Investment AK ACAH C 0.00010 1 0 0 1 0 0 0 1 0 0 0 0 0 0 0 1 1 0 0 0 Valdez Affordable Housing LLC C 360000 Cash Basis