Overview
What is Aclt P2 Inc?
Aclt P2 Inc is a nonprofit corporation situated in Anchorage, Alaska, with its headquarters at 3701 Mountain View Drive. Its primary purpose is to manage and maintain three properties located at 4133 Mountain View Drive, 3701 Mountain View Drive, and 3709 Mountain View Drive. The organization collects income from these properties and distributes the earnings, after covering expenses such as maintenance, debt service, reserves, and other relevant costs, to the Anchorage Community Land Trust or other eligible 501(a) exempt organizations. By holding title to these properties, Aclt P2 Inc contributes to the preservation and maintenance of these real estates for beneficial use, supporting the community's needs.
Is Aclt P2 Inc legitimate?
Aclt P2 Inc is a legitimate nonprofit organization registered as a 501(c)(2) entity. Aclt P2 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 P2 Inc?
Aclt P2 Inc's primary role is to manage the property located at 4133 Mountain View Drive, 3701 Mountain View Drive, and 3709 Mountain View Drive, previously owned by ACLT Properties 2, LLC, which is wholly owned by the Anchorage Community Land Trust. The corporation's mission is to collect income from the rental property and subsequently distribute the entire earnings, after deducting necessary expenses such as maintenance, debt service, reserves, and other appropriate costs for a property-holding corporation, to the Anchorage Community Land Trust or other eligible exempt organizations under section 501(a). This arrangement is intended to contribute to the broader community's welfare.
Who is the CEO of Aclt P2 Inc?
Gary Scott is the Chair of Aclt P2 Inc. The CEO's salary of Aclt P2 Inc is $0 and their total compensation is $0.
What is the revenue of Aclt P2 Inc?
Aclt P2 Inc's revenue in 2022 was -$15,771.
Who are the executives of Aclt P2 Inc and what are their salaries?
There 10 volunteers at Aclt P2 Inc.
Here are 11 key members and their salaries (Aclt P2 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 P2 Inc?
Aclt P2 Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Aclt P2 Inc
Aclt P2 Inc, as a nonprofit organization, is tasked with holding the title to three properties located at 4133 Mountain View Drive, 3701 Mountain View Drive, and 3709 Mountain View Drive. This mission stems from its previous ownership of these properties by ACLT Properties 2, LLC, a wholly-owned entity of the Anchorage Community Land Trust. The corporation's primary responsibility is to generate income from these rental properties. After deducting necessary expenses such as maintenance, debt service, reserves, and other appropriate expenses related to property management, the corporation is required to transfer the entire remaining income to the Anchorage Community Land Trust or other eligible exempt organizations under Section 501(a) of the Internal Revenue Code. In essence, Aclt P2 Inc serves as a vital intermediary, managing these properties to generate income and ensure its redistribution to support further community initiatives.
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Impact
October, 2024
Aclt P2 Inc plays a significant role in the community by managing and maintaining properties that contribute to local development and improvement. By holding title to key properties at 4133 Mountain View Drive, 3701 Mountain View Drive, and 3709 Mountain View Drive, the organization ensures these assets are utilized for the benefit of the Anchorage community.
The entity is responsible for collecting rental income from these properties, which is then reinvested back into the community through the Anchorage Community Land Trust or other charitable organizations. This model promotes sustainability, as the income generated supports necessary expenses such as maintenance and debt service while fostering community betterment initiatives.
Through this approach, Aclt P2 Inc not only manages real estate but also helps to enhance the overall quality of life in Anchorage by ensuring that the properties are maintained and utilized in ways that align with local needs and priorities. The emphasis on community improvement underscores the organization's commitment to contributing positively to the neighborhood and its residents.
This information is meant to be a general summary of Aclt P2 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.
- Gross Receipts: $139,717
Assets and Liabilities:
- Total Assets: $1,076,600
- Total Liabilities: $30,002
- Net Assets: $1,046,598
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Organization Details
Founding Year
2018
Principal Officer
Gary Scott
Main Address
3701 Mountain View Dr, Anchorage, AK, 99508
NTEE Category
Code: S47 - Community improvement
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