EDUCATION | HEALTHCARE | FISHERIES | BUSINESS | ARTS & SCIENCES
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Bering Straits Native Corporation
Nome-based Bering Straits Native Corporation
(BSNC) is looking to the future and asking
shareholders to establish the Bering Straits
Beringia Settlement Trust this fall. The trust
would allow the corporation to set aside
funds for the distribution of benefits, with
favorable tax treatment.
“We have been fortunate that our business
development and support staff have had success
in securing both government and commercial
work, which has allowed us to focus on shareholder hire and development, hire and retain
top quality employees, and increase the benefits
we provide to our shareholders and region,”
President and CEO Gail R. Schubert says in a
letter to shareholders.
The corporation, which has an office in
Anchorage, issued a record-high dividend to
shareholders in FY2017, as well as a special
elder dividend. BSNC has distributed $23
million in dividends to its shareholders since
BSNC provides substantial financial support
to the Bering Straits Foundation, which offers
scholarship, fellowship, and mentorship opportunities to shareholders and descendants.
For the 2017/2018 academic year, Bering
Straits Foundation awarded a total of $238,650
in educational funding. Since its inception in
1991, Bering Straits Foundation has provided
more than $2.8 million to BSNC shareholders
and descendants for post-secondary education.
BSNC extends hiring preference to qualified
shareholders, descendants, and shareholder
spouses. BSNC is also helping prepare tomor-
row’s leaders for the workforce by providing
paid internships and professional development
training to qualified shareholder or descen-
dant students each summer.
BSNC values and supports programs and
organizations that make a positive difference in
the region’s communities and the lives of Alaska Native people. BSNC is a major supporter
of in-region nonprofits, including the Bering
Straits Foundation, NACTEC, the Bering Sea
Women’s Group, and the Nome Emergency
Bristol Bay Native Corporation
In its 2017 annual report, Bristol Bay Native
Corporation (BBNC) notes that its “Fish First”
philosophy, on which its culture is based, has
been a guide for the corporation’s operations.
“In many ways, BBNC is still in startup
mode. We’re still exploring, discovering, and
identifying new opportunities. And opportu-
nity abounds. Now that we’re a global company,
we get to think globally. And the traits that have
guided us from the start continue to resonate as
we reach for the future.”
Government contracting remains a core
growth area for BBNC, which partners with
village corporations in the Bristol Bay region to
help them “compete and thrive” in the federal
BBNC has a diverse portfolio, including
government services, petroleum distribu-
tion, construction, and tourism. It plans to
further explore renewable energy prospects
in the region in an effort to lower the cost of
living for residents.
BBNC started with three million acres of
land and $33 million and now has businesses
with about $600 million in assets, 4,300 em-
ployees, and 10,000-plus shareholders. Today,
the corporation has business ties to all fifty
states and eleven foreign countries. Its invest-
ment portfolio’s market value is $200 million
and BBNC has distributed more than $200
million in shareholder dividends.
For 2017, BBNC reported $1.659 billion in
corporate revenues, with net earnings of $41.1
million. It paid $18.8 million in dividends.
In 2017, BBNC acquired a number of tourism-
related businesses in the Katmai region that
are renowned for their world-class fishing and
bear-viewing opportunities. The corporation
continues to look for opportunities to grow its
tourism operations in the Bristol Bay region.
Over the past eight years, Bethel-based Calista
Corporation has more than doubled its
annual revenue, which exceeded $480 million
in FY2017, slightly less than 2016. Pre-tax
income was $33.4 million. The corporation