Overview
What is Aclt P1 Inc?
Aclt P1 Inc is a nonprofit organization situated in Anchorage, Alaska, with its headquarters at 3701 Mountain View Dr, ZIP code 99508. The organization's primary role is to manage a property located at 161 Klevin Street. Previously, this property was owned by ACLT Properties 1, LLC, which was fully owned by the Anchorage Community Land Trust. Aclt P1 Inc is responsible for collecting rental income from this property, after covering expenses such as maintenance, debt service, reserves, and other necessary expenses related to property management. The collected income is then allocated to the Anchorage Community Land Trust or other eligible organizations recognized as exempt under section 501(a) of the Internal Revenue Code.
Is Aclt P1 Inc legitimate?
Aclt P1 Inc is a legitimate nonprofit organization registered as a 501(c)(2) entity. Aclt P1 Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Aclt P1 Inc?
Aclt P1 Inc's mission is centered around managing a specific property, located at 161 Klevin Street. Originally owned by ACLT Properties 1, LLC, which was itself wholly owned by the Anchorage Community Land Trust, Aclt P1 Inc now holds the title to this property. The corporation's primary responsibility is to generate income from this rental property. After deducting necessary expenses such as maintenance, debt service, reserves, and various other expenses associated with property management, the entire remaining income is then transferred to the Anchorage Community Land Trust or other eligible organizations, exempt under section 501(a) of the Internal Revenue Code.
Who is the CEO of Aclt P1 Inc?
Kirk Rose is the Ceo of Aclt P1 Inc. The CEO's salary of Aclt P1 Inc is $0 and their total compensation is $0.
What is the revenue of Aclt P1 Inc?
Aclt P1 Inc's revenue in 2022 was $383,793.
Who are the executives of Aclt P1 Inc and what are their salaries?
There 10 volunteers at Aclt P1 Inc.
Here are 11 key members and their salaries (Aclt P1 Inc's CEO's salary is $0 and their total compensation is $0):
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Where can I find the form 990 for Aclt P1 Inc?
Aclt P1 Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Aclt P1 Inc
Aclt P1 Inc, as per its mission, is responsible for managing a property located at 161 Klevin Street. This property was previously owned by ACLT Properties 1, LLC, a fully-owned subsidiary of the Anchorage Community Land Trust. The primary objective of Aclt P1 Inc is to maintain this property and generate income from it. The income generated, after deducting necessary expenses such as maintenance, debt service, reserves, and other appropriate costs, is then directed towards the Anchorage Community Land Trust or other exempt organizations, as specified under 501(a). This mission of Aclt P1 Inc aligns with the broader goal of the Anchorage Community Land Trust, which is to preserve and manage community land and properties for the benefit of the community at large.
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Impact
October, 2024
Aclt P1 Inc plays a crucial role in promoting community improvement in Anchorage, Alaska. By holding the title to the property at 161 Klevin Street, it creates a foundation for the Anchorage Community Land Trust to manage and utilize the property effectively. The corporation is responsible for collecting rental income from this property, which is then reinvested back into the community through the Anchorage Community Land Trust or other exempt organizations.
This structure ensures that funds generated from the rental property are used for essential expenses such as maintenance, debt service, and reserves, allowing for the upkeep and potential enhancement of the property. In turn, this contributes to the stability and development of the local community, promoting economic growth and providing resources for community initiatives. Overall, Aclt P1 Inc significantly impacts the area by facilitating the responsible management of community assets and supporting efforts aimed at improvement and sustainability.
This information is meant to be a general summary of Aclt P1 Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $87
- Gross Receipts: $965,233
Assets and Liabilities:
- Total Assets: $5,827,848
- Total Liabilities: $1,244,938
- Net Assets: $4,582,910
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Organization Details
Founding Year
2017
Principal Officer
Kirk Rose
Main Address
3701 Mountain View Dr, Anchorage, AK, 99508
NTEE Category
Code: S47 - Community improvement
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