AASC HOUSING I INC: Form 990, tax year 2012

View the entire original 990 at ProPublica ↗

Organization: AASC HOUSING I INC (EIN 92-0161891)
Tax period: 2012-07-01 to 2013-06-30
Filed: 2013-11-20
IRS object ID: 201323249349300312
Schema version: 2012v2.3
Source: Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header
Form 990
Schedule A
Schedule D
Schedule O

Return header ReturnHeader

Field	Value	IRS element (for citing)
Timestamp	2013-11-20T11:32:46-06:00	Timestamp
Tax Period End Date	2013-06-30	TaxPeriodEndDate

Preparer Firm PreparerFirm

Preparer Firm Business Name PreparerFirmBusinessName

Field	Value	IRS element (for citing)
Business Name Line1	SRAMEK-HIGHTOWER CPAS PC	BusinessNameLine1

Preparer Firm US Address PreparerFirmUSAddress

Field	Value	IRS element (for citing)
Address Line1	2525 C STREET SUITE 100	AddressLine1
City	ANCHORAGE	City
State	AK	State
ZIP Code	99503	ZIPCode

Field	Value	IRS element (for citing)
Return Type	990	ReturnType
Tax Period Begin Date	2012-07-01	TaxPeriodBeginDate

Filer Filer

Field	Value	IRS element (for citing)
EIN	920161891	EIN

Name Name

Field	Value	IRS element (for citing)
Business Name Line1	AASC HOUSING I INC	BusinessNameLine1

Field	Value	IRS element (for citing)
Name Control	AASC	NameControl
Phone	9076778490	Phone

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	480 W TUDOR ROAD	AddressLine1
City	ANCHORAGE	City
State	AK	State
ZIP Code	99503	ZIPCode

Officer Officer

Field	Value	IRS element (for citing)
Name	WILLIAM INSCHO	Name
Title	PRESIDENT	Title
Phone	9076778490	Phone
Date Signed	2013-11-19	DateSigned
Authorize Third Party	false	AuthorizeThirdParty

Preparer Preparer

Field	Value	IRS element (for citing)
Name	RODNEY J HUTCHINGS CPA	Name
Phone	9075636722	Phone
Date Prepared	2013-11-18	DatePrepared

Field	Value	IRS element (for citing)
Tax Year	2012	TaxYear
Build TS	2015-11-30 17:44:51Z	BuildTS

Form 990 IRS990

Field	Value	IRS element (for citing)
Name Of Principal Officer Person	WILLIAM INSCHO II	NameOfPrincipalOfficerPerson

Address Principal Officer US AddressPrincipalOfficerUS

Field	Value	IRS element (for citing)
Address Line1	PO BOX 202222	AddressLine1
City	ANCHORAGE	City
State	AK	State
ZIP Code	99520	ZIPCode

Field	Value	IRS element (for citing)
Gross Receipts	85594	GrossReceipts
Group Return For Affiliates	false	GroupReturnForAffiliates
Organization501c3	X	Organization501c3
Type Of Organization Corporation	X	TypeOfOrganizationCorporation
Year Formation	1998	YearFormation
State Legal Domicile	AK	StateLegalDomicile
Activity Or Mission Description	TO CONSTRUCT AND MANAGE AFFORDABLE HOUSING FOR LOW-INCOME AND DISABLED PERSONS.	ActivityOrMissionDescription
Nbr Voting Members Governing Body	5	NbrVotingMembersGoverningBody
Nbr Independent Voting Members	5	NbrIndependentVotingMembers
Total Nbr Employees	0	TotalNbrEmployees
Total Gross UBI	0	TotalGrossUBI
Contributions Grants Current Year	0	ContributionsGrantsCurrentYear
Program Service Revenue Prior Year	80003	ProgramServiceRevenuePriorYear
Program Service Revenue CY	85570	ProgramServiceRevenueCY
Investment Income Prior Year	51	InvestmentIncomePriorYear
Investment Income Current Year	24	InvestmentIncomeCurrentYear
Other Revenue Current Year	0	OtherRevenueCurrentYear
Total Revenue Prior Year	80054	TotalRevenuePriorYear
Total Revenue Current Year	85594	TotalRevenueCurrentYear
Grants And Similar Amnts CY	0	GrantsAndSimilarAmntsCY
Benefits Paid To Members CY	0	BenefitsPaidToMembersCY
Salaries Etc Current Year	0	SalariesEtcCurrentYear
Total Prof Fundrsng Exp CY	0	TotalProfFundrsngExpCY
Total Fundrsng Exp Current Year	0	TotalFundrsngExpCurrentYear
Other Expense Prior Year	107021	OtherExpensePriorYear
Other Expenses Current Year	109138	OtherExpensesCurrentYear
Total Expenses Prior Year	107021	TotalExpensesPriorYear
Total Expenses Current Year	109138	TotalExpensesCurrentYear
Revenues Less Expenses Prior Year	-26967	RevenuesLessExpensesPriorYear
Revenues Less Expenses CY	-23544	RevenuesLessExpensesCY
Total Assets BOY	831378	TotalAssetsBOY
Total Assets EOY	804750	TotalAssetsEOY
Total Liabilities BOY	1226040	TotalLiabilitiesBOY
Total Liabilities EOY	1222957	TotalLiabilitiesEOY
Net Assets Or Fund Balances BOY	-394662	NetAssetsOrFundBalancesBOY
Net Assets Or Fund Balances EOY	-418207	NetAssetsOrFundBalancesEOY
Info In Schedule O Part III	X	InfoInScheduleOPartIII
Mission Description	TO CONSTRUCT AND MANAGE AFFORDABLE HOUSING FOR LOW-INCOME AND DISABLED PERSONS.	MissionDescription
Significant New Program Services	false	SignificantNewProgramServices
Significant Change	false	SignificantChange
Expense	109138	Expense
Description	PROVIDE QUALITY AFFORDABLE HOUSING TO LOW-INCOME AND DISABLED PERSONS LOCATED IN ANCHORAGE, ALASKA.	Description

Activity Other ActivityOther

Field	Value	IRS element (for citing)
Description	PROVIDE QUALITY AFFORDABLE HOUSING TO LOW-INCOME AND DISABLED PERSONS LOCATED IN ANCHORAGE, ALASKA.	Description

Field	Value	IRS element (for citing)
Total Program Service Expense	109138	TotalProgramServiceExpense
Described In501 C3	true	DescribedIn501C3
Schedule B Required	false	ScheduleBRequired
Political Activities	false	PoliticalActivities
Lobbying Activities	false	LobbyingActivities
Subject To Proxy Tax	false	SubjectToProxyTax
Donor Advised Funds	false	DonorAdvisedFunds
Conservation Easements	false	ConservationEasements
Collections Of Art	false	CollectionsOfArt
Credit Counseling	false	CreditCounseling
Term Or Permanent Endowments	false	TermOrPermanentEndowments
Report Land Bldg Equip	true	ReportLandBldgEquip
Report Invest Oth Securities	false	ReportInvestOthSecurities
Report Prog Rel Invest	false	ReportProgRelInvest
Report Other Assets	true	ReportOtherAssets
Report Other Liabilities	true	ReportOtherLiabilities
Report Fin48 Footnote	false	ReportFin48Footnote
Independent Audit Financial Stmt	false	IndependentAuditFinancialStmt
Consolidated Audit Financial Stmt	false	ConsolidatedAuditFinancialStmt
School	false	School
Foreign Office	false	ForeignOffice
Foreign Activities	false	ForeignActivities
More Than5000 K To Organizations	false	MoreThan5000KToOrganizations
More Than5000 K To Individuals	false	MoreThan5000KToIndividuals
Professional Fundraising	false	ProfessionalFundraising
Fundraising Activities	false	FundraisingActivities
Gaming	false	Gaming
Hospital	false	Hospital
Grants To Organizations	false	GrantsToOrganizations
Grants To Individuals	false	GrantsToIndividuals
Schedule J Required	false	ScheduleJRequired
Tax Exempt Bonds	false	TaxExemptBonds
Excess Benefit Transaction	false	ExcessBenefitTransaction
Prior Excess Benefit Transaction	false	PriorExcessBenefitTransaction
Loan To Officer Or DQP	false	LoanToOfficerOrDQP
Grant To Related Person	false	GrantToRelatedPerson
Bsnss Rltnshp With Organization	false	BsnssRltnshpWithOrganization
Bsnss Rltnshp Thru Family Member	false	BsnssRltnshpThruFamilyMember
Officer Entity With Bsnss Rltnshp	false	OfficerEntityWithBsnssRltnshp
Deductible Non Cash Contributions	false	DeductibleNonCashContributions
Deductible Contributions Of Art	false	DeductibleContributionsOfArt
Terminated	false	Terminated
Partial Liquidation	false	PartialLiquidation
Disregarded Entity	false	DisregardedEntity
Related Entity	false	RelatedEntity
Related Org Controlled Entity	false	RelatedOrgControlledEntity
Transfers To Exempt Non Chrtbl Org	false	TransfersToExemptNonChrtblOrg
Activities Conducted Partnership	false	ActivitiesConductedPartnership
Schedule O Required	false	ScheduleORequired
Number Forms Transmitted With1096	0	NumberFormsTransmittedWith1096
Number W2 G Included	0	NumberW2GIncluded
Number Of Employees	0	NumberOfEmployees
Unrelated Business Income	false	UnrelatedBusinessIncome
Foreign Financial Account	false	ForeignFinancialAccount
Prohibited Tax Shelter Trans	false	ProhibitedTaxShelterTrans
Taxable Party Notification	false	TaxablePartyNotification
Non Deductible Contributions	false	NonDeductibleContributions
Indoor Tanning Services	false	IndoorTanningServices
Info In Schedule O Part VI	X	InfoInScheduleOPartVI
Nbr Voting Governing Body Members	5	NbrVotingGoverningBodyMembers
Number Independent Voting Members	5	NumberIndependentVotingMembers
Family Or Business Relationship	false	FamilyOrBusinessRelationship
Delegation Of Management Duties	false	DelegationOfManagementDuties
Changes To Organizing Docs	false	ChangesToOrganizingDocs
Material Diversion Or Misuse	false	MaterialDiversionOrMisuse
Members Or Stockholders	false	MembersOrStockholders
Election Of Board Members	false	ElectionOfBoardMembers
Decisions Subject To Approval	false	DecisionsSubjectToApproval
Minutes Of Governing Body	true	MinutesOfGoverningBody
Minutes Of Committees	true	MinutesOfCommittees
Officer Mailing Address	false	OfficerMailingAddress
Local Chapters	false	LocalChapters
Form990 Provided To Governing Body	true	Form990ProvidedToGoverningBody
Conflict Of Interest Policy	true	ConflictOfInterestPolicy
Annual Disclosure Covered Persons	false	AnnualDisclosureCoveredPersons
Regular Monitoring Enforcement	false	RegularMonitoringEnforcement
Whistleblower Policy	false	WhistleblowerPolicy
Document Retention Policy	false	DocumentRetentionPolicy
Compensation Process CEO	false	CompensationProcessCEO
Compensation Process Other	false	CompensationProcessOther
Investment In Joint Venture	false	InvestmentInJointVenture
Upon Request	X	UponRequest

The Books Are In Care Of TheBooksAreInCareOf

Name Business NameBusiness

Field	Value	IRS element (for citing)
Business Name Line1	NEIGHBORWORKS ANCHORAGE	BusinessNameLine1

Field	Value	IRS element (for citing)
Telephone Number	9076778490	TelephoneNumber

Address US AddressUS

Field	Value	IRS element (for citing)
Address Line1	480 W TUDOR ROAD	AddressLine1
City	ANCHORAGE	City
State	AK	State
ZIP Code	99503	ZIPCode

Field	Value	IRS element (for citing)
No Listed Persons Compensated	X	NoListedPersonsCompensated

Form990 Part VII Section A Form990PartVIISectionA (5 entries)

TitleTitle	Average Hours Per WeekAverageHoursPerWeek	Individual Trustee Or DirectorIndividualTrusteeOrDirector	OfficerOfficer	Reportable Comp From OrganizationReportableCompFromOrganization	Reportable Comp From Related OrgsReportableCompFromRelatedOrgs	Other CompensationOtherCompensation
WILLIAM INSCHO II
PRESIDENT	2.00	X	X	0	0	0
MATT JONES
VICE PRESIDE	2.00	X	X	0	0	0
SHANNON WILKS
SECRETARY/TR	2.00	X	X	0	0	0
JAN C HOOD
DIRECTOR	2.00	X		0	0	0
TINEKA WILLIAMS
DIRECTOR	2.00	X		0	0	0

Field	Value	IRS element (for citing)
Formers Listed	false	FormersListed
Total Comp GT150 K	false	TotalCompGT150K
Compensation From Other Sources	false	CompensationFromOtherSources

Program Service Revenue ProgramServiceRevenue

Field	Value	IRS element (for citing)
Description	LOW INCOME HOUSING	Description
Total Revenue Column	85570	TotalRevenueColumn
Exclusion	$85,570	ExclusionAmount

Field	Value	IRS element (for citing)
Total Program Service Revenue	85570	TotalProgramServiceRevenue

Investment Income InvestmentIncome

Field	Value	IRS element (for citing)
Total Revenue Column	24	TotalRevenueColumn
Related Or Exempt Function Income	24	RelatedOrExemptFunctionIncome

Total Revenue TotalRevenue

Field	Value	IRS element (for citing)
Total Revenue Column	85594	TotalRevenueColumn
Related Or Exempt Function Income	24	RelatedOrExemptFunctionIncome
Exclusion	$85,570	ExclusionAmount

Fees For Services Legal FeesForServicesLegal

Field	Value	IRS element (for citing)
Total	455	Total
Program Services	455	ProgramServices

Fees For Services Accounting FeesForServicesAccounting

Field	Value	IRS element (for citing)
Total	9500	Total
Program Services	9500	ProgramServices

Occupancy Occupancy

Field	Value	IRS element (for citing)
Total	33186	Total
Program Services	33186	ProgramServices

Depreciation Depletion DepreciationDepletion

Field	Value	IRS element (for citing)
Total	37438	Total
Program Services	37438	ProgramServices

Other Expenses OtherExpenses (4 entries)

DescriptionDescription	TotalTotal	Program ServicesProgramServices
MANAGEMENT FEES	12324	12324
CLEANING / MAINTENANCE	9333	9333
OFFICE EXPENSES	6630	6630
TRAINING & DEVELOPMENT	272	272

Total Functional Expenses TotalFunctionalExpenses

Field	Value	IRS element (for citing)
Total	109138	Total
Program Services	109138	ProgramServices
Management And General	0	ManagementAndGeneral
Fundraising	0	Fundraising

Cash Non Interest Bearing CashNonInterestBearing

Field	Value	IRS element (for citing)
BOY	13950	BOY
EOY	7693	EOY

Accounts Receivable AccountsReceivable

Field	Value	IRS element (for citing)
BOY	1141	BOY
EOY	1142	EOY

Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges

Field	Value	IRS element (for citing)
BOY	2544	BOY
EOY	4079	EOY

Field	Value	IRS element (for citing)
Land Buildings Equipment Basis	1268775	LandBuildingsEquipmentBasis
Land Bldg Equipment Accum Deprec	521002	LandBldgEquipmentAccumDeprec

Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet

Field	Value	IRS element (for citing)
BOY	780235	BOY
EOY	747773	EOY

Other Assets Total OtherAssetsTotal

Field	Value	IRS element (for citing)
BOY	33508	BOY
EOY	44063	EOY

Total Assets TotalAssets

Field	Value	IRS element (for citing)
BOY	831378	BOY
EOY	804750	EOY

Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses

Field	Value	IRS element (for citing)
BOY	7010	BOY
EOY	3734	EOY

Mort Notes Pybl Secured Invest Prop MortNotesPyblSecuredInvestProp

Field	Value	IRS element (for citing)
BOY	1214900	BOY
EOY	1214900	EOY

Other Liabilities OtherLiabilities

Field	Value	IRS element (for citing)
BOY	4130	BOY
EOY	4323	EOY

Total Liabilities TotalLiabilities

Field	Value	IRS element (for citing)
BOY	1226040	BOY
EOY	1222957	EOY

Field	Value	IRS element (for citing)
Follow SFAS117	X	FollowSFAS117

Unrestricted Net Assets UnrestrictedNetAssets

Field	Value	IRS element (for citing)
BOY	-394662	BOY
EOY	-418207	EOY

Total Net Assets Fund Balances TotalNetAssetsFundBalances

Field	Value	IRS element (for citing)
BOY	-394662	BOY
EOY	-418207	EOY

Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances

Field	Value	IRS element (for citing)
BOY	831378	BOY
EOY	804750	EOY

Field	Value	IRS element (for citing)
Reconcilation Revenue Expenses	-23544	ReconcilationRevenueExpenses
Reconcilation Other Changes	-1	ReconcilationOtherChanges
Method Of Accounting Accrual	X	MethodOfAccountingAccrual
Accountant Compile Or Review	false	AccountantCompileOrReview
FS Audited	true	FSAudited

FS Audited Basis FSAuditedBasis

Field	Value	IRS element (for citing)
Financial Statement Separate	X	FinancialStatementSeparate

Field	Value	IRS element (for citing)
Audit Committee	true	AuditCommittee
Federal Grant Audit Required	true	FederalGrantAuditRequired
Federal Grant Audit Performed	true	FederalGrantAuditPerformed

Schedule A IRS990ScheduleA

Field	Value	IRS element (for citing)
Publicly Supported Org509a2	X	PubliclySupportedOrg509a2

Gross Receipts From Admissions GrossReceiptsFromAdmissions

Field	Value	IRS element (for citing)
Current Tax Year Minus1 Year	51	CurrentTaxYearMinus1Year
Current Tax Year	24	CurrentTaxYear
Total	75	Total

Total509 Total509

Field	Value	IRS element (for citing)
Current Tax Year Minus1 Year	51	CurrentTaxYearMinus1Year
Current Tax Year	24	CurrentTaxYear
Total	75	Total

Field	Value	IRS element (for citing)
Public Support Total509	75	PublicSupportTotal509

Gross Investment Income509 GrossInvestmentIncome509

Field	Value	IRS element (for citing)
Current Tax Year Minus4 Years	445	CurrentTaxYearMinus4Years
Current Tax Year Minus3 Years	171	CurrentTaxYearMinus3Years
Current Tax Year Minus2 Years	61125	CurrentTaxYearMinus2Years
Current Tax Year Minus1 Year	80003	CurrentTaxYearMinus1Year
Current Tax Year	85570	CurrentTaxYear
Total	227314	Total

Investment Income And UBTI InvestmentIncomeAndUBTI

Field	Value	IRS element (for citing)
Current Tax Year Minus4 Years	445	CurrentTaxYearMinus4Years
Current Tax Year Minus3 Years	171	CurrentTaxYearMinus3Years
Current Tax Year Minus2 Years	61125	CurrentTaxYearMinus2Years
Current Tax Year Minus1 Year	80003	CurrentTaxYearMinus1Year
Current Tax Year	85570	CurrentTaxYear
Total	227314	Total

Total Support Total TotalSupportTotal

Field	Value	IRS element (for citing)
Current Tax Year Minus4 Years	445	CurrentTaxYearMinus4Years
Current Tax Year Minus3 Years	171	CurrentTaxYearMinus3Years
Current Tax Year Minus2 Years	61125	CurrentTaxYearMinus2Years
Current Tax Year Minus1 Year	80054	CurrentTaxYearMinus1Year
Current Tax Year	85594	CurrentTaxYear
Total	227389	Total

Field	Value	IRS element (for citing)
Public Support Percentage509	0.00030	PublicSupportPercentage509
Prior Year Support Percentage	0.00040	PriorYearSupportPercentage
Investment Income Percentage	1.00000	InvestmentIncomePercentage
Prior Yr Invest Income Percentage	1.00000	PriorYrInvestIncomePercentage
Private Foundation509	X	PrivateFoundation509

Schedule D IRS990ScheduleD

Land Land

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	147855	OtherCostOrOtherBasis
Book Value	147855	BookValue

Buildings Buildings

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	1120920	OtherCostOrOtherBasis
Depreciation	521002	Depreciation
Book Value	599918	BookValue

Field	Value	IRS element (for citing)
Total Of Book Value Land Buildings	747773	TotalOfBookValueLandBuildings

Other Assets OtherAssets (3 entries)

DescriptionDescription	Book ValueBookValue
RESTRICTED CASH	34789
MORTGAGE ESCROW	5556
TENANT SECURITY DEPOSITS	3718

Field	Value	IRS element (for citing)
Total Book Value Other Assets	44063	TotalBookValueOtherAssets

Other Liabilities OtherLiabilities (2 entries)

DescriptionDescription	AmountAmount
TENANT SECURITY DEPOSITS	$3,718
PREPAID RENTS	$605

Field	Value	IRS element (for citing)
Total Of Amounts	4323	TotalOfAmounts

Schedule O IRS990ScheduleO

General Explanation GeneralExplanation (4 entries)

IdentifierIdentifier	Return ReferenceReturnReference	ExplanationExplanation
ALL OTHER ACCOMPLISHMENT DESCRIPTION	FORM 990, PAGE 2, PART III, LINE 4D	PROVIDE QUALITY AFFORDABLE HOUSING TO LOW-INCOME AND DISABLED PERSONS LOCATED IN ANCHORAGE, ALASKA.
ORGANIZATION'S PROCESS USED TO REVIEW FORM 990	FORM 990, PAGE 6, PART VI, LINE 11B	BOARD HAS THE OPPORTUNITY TO REVIEW THE TAX RETURN BEFORE IT IS FILED.
GOVERNING DOCUMENTS DISCLOSURE EXPLANATION	FORM 990, PAGE 6, PART VI, LINE 19	NO DOCUMENTS AVAILABLE TO THE PUBLIC
RECONCILIATION OF CHANGES - OTHER	FORM 990, PART XI, LINE 9	BOOK / TAX DEPRECIATION DIFFERENCE -1