The Foraker Group

Posted Under: Foraker News

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We thank all the organizations that have come to Foraker for our assistance in meeting your missions. We endeavor every day to help you move in the direction you want to go. And we have tried to never let money be a barrier to our services, the reality is that mission related earned income is what allows us to help everyone who needs our support.

As we strike that balance, our Governance Board recently passed a late payment policy that includes a penalty on outstanding balances. Our purpose is to ensure we have the resources available to serve all Alaska’s nonprofits and tribal organizations that need support.

We will do everything we can to communicate with you about outstanding invoices, and we ask you to do the same. We currently are contacting every group that has at least a 60-day past due balance. For others, please be aware that all unpaid balances after 90 days or accounts in default on payment plans will be assessed a monthly 1% interest (12% annually) on the outstanding balance until it is paid in full. If payment (either substantial or full) has not been received within 120 days of the invoice date, these actions will occur:

• Any active services will be suspended.
• A 2% late penalty will be added to the outstanding balance at the time of suspension.
• Written notice will be provided at least 10 business days before suspension of services.
• Services may be reinstated upon full payment of all outstanding balances, including interest and penalties.
• For certain engagements, pre-payment for future services may be required as a condition of reinstatement.

We encourage any organization experiencing financial hardship to contact us to discuss arrangements before an account becomes overdue. We recognize it will take all of us working together to avoid late payments. We simply ask that you communicate with us directly. Knowing that we have communicated with some directly about the process, our intention is to apply our late payment policy to all clients, effective September 1, 2025.

If you have any questions, please get in touch at info@forakergroup.org or call 907-743-1200.