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Alaska Business Development Center

Learn about this cause: Is it Legit? Do I like the mission? What is the CEO's salary?

EIN: 920077825 ✦ Anchorage, AK ✦ Designated as a 501(c)(3)

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Overview

What is Alaska Business Development Center?

The Alaska Business Development Center (ABDC) is a nonprofit organization based in Anchorage, Alaska, specifically at 840 K Street 202, ZIP code 99501. Its primary mission is to support rural Alaska's low-income families by assisting them with their current year's tax returns. ABDC offers a range of services, including management and technical assistance, free tax education, free tax preparation, business-related workshops, tax problem resolution, creative financial problem-solving, and assistance with loan and grant applications. The center also provides free resources for resolving tax issues and offers support in applying for financial aid. With a team of 16 dedicated individuals, ABDC strives to empower rural Alaskan residents with the financial tools they need.


Official website here: www.abdc.org

Is Alaska Business Development Center legitimate?

Alaska Business Development Center is a legitimate nonprofit organization registered as a 501(c)(3) entity. Alaska Business Development Center 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: $88,253
Professional Fundraising Fees: $0
Other Salaries and Wages: $233,231

For more financial information, click here


Official website here: www.abdc.org

What is the mission statement of Alaska Business Development Center?

The Alaska Business Development Center provides a range of services to support rural Alaskan residents, including management and technical assistance, free tax education and preparation, business-related workshops, tax problem resolution, creative financial problem-solving, and assistance with loan and grant applications. Their mission is to empower these individuals by offering free tax education, tax preparation, and problem resolution, as well as workshops and creative financial solutions. They also assist with loan and grant applications, aiming to help rural Alaskan families prepare their tax returns and overcome financial challenges. The center provides a comprehensive set of resources to support the business and financial needs of rural Alaskan residents.


Official website here: www.abdc.org

Who is the CEO of Alaska Business Development Center?

Michelle Kern is the President of Alaska Business Development Center.


Official website here: www.abdc.org

What is the revenue of Alaska Business Development Center?

Alaska Business Development Center's revenue in 2022 was $437,022.


Official website here: www.abdc.org

Who are the executives of Alaska Business Development Center and what are their salaries?

The average compensation at Alaska Business Development Center during 2022 was $20,093. There are 16 employees at Alaska Business Development Center.


Here are 3 key members and their salaries:


Michelle Kern (President)
  • Compensation: $88,253
  • Related: $0
  • Other: $0
Raymond Koso Jr (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Paul Reid (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0


Official website here: www.abdc.org

Where can I find the form 990 for Alaska Business Development Center?

Alaska Business Development Center's most recent form 990 was submitted in 2022 and can be accessed here.


Official website here: www.abdc.org

Learn more at the official website: www.abdc.org

Mission Statement of Alaska Business Development Center

The Alaska Business Development Center, abbreviated as ABDC, is committed to providing assistance to rural Alaskan residents. This nonprofit organization offers a range of services designed to support these individuals, including management and technical assistance, free tax education, free tax preparation, business-related workshops, tax problem resolution, creative financial problem-solving, and assistance with loan and grant applications. ABDC's mission is to empower rural Alaskan residents by providing them with the tools and resources necessary to manage their finances effectively and successfully navigate the process of securing loans or grants.

In addition to its primary mission, ABDC offers free tax preparation services to low-income families in rural Alaska. This service is invaluable, as it helps these families navigate the complexities of their tax returns, ensuring they receive all the benefits to which they are entitled. By providing free tax education, ABDC equips rural Alaskan residents with the knowledge needed to make informed financial decisions, ultimately fostering financial stability and independence.

Moreover, ABDC hosts business-related workshops and offers assistance with loan and grant applications. These services are crucial for rural Alaskan residents who may not have access to such resources in their communities. By providing this assistance, ABDC empowers rural Alaskans to start or grow their own businesses, creating opportunities for economic growth and improvement in their communities.

In summary, the Alaska Business Development Center is a vital resource for rural Alaskan residents. Its mission is to provide management and technical assistance, free tax education and preparation, business-related workshops, tax problem resolution, creative financial problem-solving, and loan/grant application assistance. By offering these services, ABDC empowers rural Alaskans to manage their finances effectively, secure loans and grants, and start or grow their own businesses, ultimately fostering financial stability and economic growth in their communities.

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Impact




October, 2024

The Alaska Business Development Center (ABDC) has a significant impact on rural Alaskan communities by providing essential management and technical assistance tailored to local needs. This support includes free tax education and preparation services, which are critical for low-income families navigating their financial responsibilities.

ABDC organizes business-related workshops that empower residents with knowledge and skills to improve their economic standing. Additionally, the center assists individuals in resolving tax problems and offers innovative solutions to financial challenges they may face. By helping residents with loan and grant applications, ABDC plays a crucial role in fostering entrepreneurship and stimulating economic growth in rural regions.

Overall, the Alaska Business Development Center enhances community improvement by equipping residents with the tools and knowledge necessary for financial stability and business success.




This information is meant to be a general summary of Alaska Business Development Center. 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.

Revenue
$437,022 (2022)
Expenses
$494,711 (2022)
Efficiency

Other financial information:

This information is from the most recently submitted tax form from this organization, which was in 2022.

  • Investment Income: $46
  • Program Service Revenue: $199,947
  • Gross Receipts: $437,022

Assets and Liabilities:

  • Total Assets: $536,941
  • Total Liabilities: $6,298
  • Net Assets: $530,643

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Programs

Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.

PROGRAM REVENUE

Revenue

$163,622

CONTRACT INCOME

Revenue

$36,325

Organization Details

Founding Year

1978

Principal Officer

Michelle Kern

Main Address

840 K STREET 202, ANCHORAGE, AK, 99501

NTEE Category

Code: S43Z - Community improvement

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