Adak Community Development Corporation (EIN 263793262) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2005

Legal Domicile

Principal Officer

Layton J Lockett

Phone

9075922335

Tax Period

2023-01-01 to 2023-12-31

Adak Community Development Corporation, founded in 2005, is a small nonprofit in the Community Improvement sector that reported $754K in total revenue in fiscal year 2023. Revenue fell 41% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $553K, a strong 73% operating margin.

Mission

The promotion and development of fisheries related resources, infrastructure and assets for the benefit of the community of Adak, Alaska.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $708,746

Investment Income $44,454

Other Revenue $500

TOTAL REVENUE $753,700

Expense Breakdown

Grants Paid $750

Salaries & Benefits $43,115

Fundraising Expenses $0

Program Expenses $50,637

Other Expenses $156,480

TOTAL EXPENSES $200,345

Year-over-Year Comparison

	2023	2022	Change
Revenue	$753,700	$1,285,252	-0.4%
Expenses	$200,345	$158,901	+0.3%
Net Income	$553,355	$1,126,351	-0.5%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

⚠ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$39,578

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Mary Nelson	Office Manager	40.00	Officer	$39,578	$0	$39,578
Layton J Lockett	President	20.00	Officer Director	$0	$0	$0
Steven Minor	Vice President	10.00	Officer Director	$0	$0	$0
Larry D Mayes	Secretary/Treas	10.00	Officer Director	$0	$0	$0
W David Fraser	Director	10.00	Director	$0	$0	$0
Richard R Koso	Director	10.00	Director	$0	$0	$0
Cory Herendeen	Director	10.00	Director	$0	$0	$0
Scott Bullock	Director	10.00	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$753,700	$200,345	$6,451,091	$553,355
2022	$1,285,252	$158,901	$5,838,618	$1,126,351
2021	$820,475	$97,995	$4,817,463	$722,480
2020	$562,679	$126,037	$4,062,999	$436,642
2019	$562,527	$307,058	$3,687,472	$255,469
2018	$694,701	$199,508	$3,462,146	$495,193

Adak Community Development Corporation