Overview
What is Norton Sound Economic Development Corporation?
The Norton Sound Economic Development Corporation is a nonprofit organization based in Anchorage, Alaska, specifically located at 2701 Gambell Street 400. Their mission focuses on fostering economic growth and sustainability in the Norton Sound region. They manage CDQ allocations and IFQ holdings, providing a balance between local development and participation in distant-water fisheries in the Bering Sea and Aleutian Islands. The company's initiatives include offering educational, training, and employment opportunities to residents, building essential infrastructure, launching new fisheries, and supporting local fishermen. Moreover, they aim to restore salmon runs and offer financial assistance through loans and equity investments. Despite their significant involvement in the fisheries sector, they have not entered into any major long-term agreements beyond their agreements with CDQ harvesters.
Official website here: www.nsedc.com
Is Norton Sound Economic Development Corporation legitimate?
Norton Sound Economic Development Corporation is a legitimate nonprofit organization registered as a 501(c)(4) entity. Norton Sound Economic Development Corporation 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: $2,225,849
Professional Fundraising Fees: $0
Other Salaries and Wages: $5,453,187
For more financial information, click here
Official website here: www.nsedc.com
What is the mission statement of Norton Sound Economic Development Corporation?
The Norton Sound Economic Development Corporation is dedicated to fostering and maintaining sustainable economic growth in the region. Its mission encompasses a balance between local development for residents and involvement in distant-water fisheries in the Bering Sea and Aleutian Islands. The organization executes programs to educate, train, and employ local people, constructs infrastructure for fisheries, initiates new fisheries through community-led development efforts, and supports local fishermen for various species such as salmon, herring, crab, and halibut. Additionally, the Corporation offers loans for essential equipment and investments in companies and vessels. The Corporation has entered into agreements primarily with harvesters of its CDQ (Community Development Quota) allocations, without any significant long-term commitments beyond these agreements.
Official website here: www.nsedc.com
Who is the CEO of Norton Sound Economic Development Corporation?
Janis Ivanoff is the CEO of Norton Sound Economic Development Corporation The CEO's salary of Norton Sound Economic Development Corporation is $334,315 and their total compensation is $400,409.
Official website here: www.nsedc.com
What is the revenue of Norton Sound Economic Development Corporation?
Norton Sound Economic Development Corporation's revenue in 2023 was $16,364,233.
Official website here: www.nsedc.com
Who are the executives of Norton Sound Economic Development Corporation and what are their salaries?
The average compensation at Norton Sound Economic Development Corporation during 2023 was $28,128. There are 273 employees at Norton Sound Economic Development Corporation.
Here are 26 key members and their salaries (Norton Sound Economic Development Corporation's CEO's salary is $334,315 and their total compensation is $400,409):
- Compensation: $334,315
- Related: $0
- Other: $66,094
- Compensation: $267,677
- Related: $0
- Other: $61,182
- Compensation: $253,196
- Related: $0
- Other: $60,008
- Compensation: $213,782
- Related: $0
- Other: $57,602
- Compensation: $174,330
- Related: $0
- Other: $35,848
- Compensation: $150,950
- Related: $0
- Other: $55,196
- Compensation: $169,733
- Related: $0
- Other: $35,762
- Compensation: $135,541
- Related: $0
- Other: $54,275
- Compensation: $158,700
- Related: $0
- Other: $24,579
- Compensation: $131,054
- Related: $0
- Other: $21,911
- Compensation: $58,366
- Related: $0
- Other: $0
- Compensation: $56,722
- Related: $0
- Other: $0
- Compensation: $54,976
- Related: $0
- Other: $0
- Compensation: $50,537
- Related: $0
- Other: $0
- Compensation: $50,434
- Related: $0
- Other: $0
- Compensation: $50,419
- Related: $0
- Other: $0
- Compensation: $49,924
- Related: $0
- Other: $0
- Compensation: $49,509
- Related: $0
- Other: $0
- Compensation: $49,221
- Related: $0
- Other: $0
- Compensation: $47,494
- Related: $0
- Other: $0
- Compensation: $47,406
- Related: $0
- Other: $0
- Compensation: $45,506
- Related: $0
- Other: $0
- Compensation: $40,001
- Related: $0
- Other: $0
- Compensation: $34,579
- Related: $0
- Other: $0
- Compensation: $30,464
- Related: $0
- Other: $0
- Compensation: $13,155
- Related: $0
- Other: $0
Official website here: www.nsedc.com
Where can I find the form 990 for Norton Sound Economic Development Corporation?
Norton Sound Economic Development Corporation's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.nsedc.com
Learn more at the official website: www.nsedc.com
Mission Statement of Norton Sound Economic Development Corporation
Norton Sound Economic Development Corporation (NSEDC) is a mission-driven organization committed to fostering new and ongoing economic activity in the region. With a focus on striking a balance between local development and active participation in the distant-water fisheries in the Bering Sea and Aleutian Islands, NSEDC aims to enhance the economic prospects of the community.
To actualize its mission, NSEDC has designed a multifaceted approach. It offers educational and training programs to equip the local populace with the necessary skills for employment. Furthermore, NSEDC invests in infrastructure development to support the growth of fisheries. By initiating new fisheries through locally-led development projects, NSEDC empowers the community to take control of its economic destiny.
NSEDC also extends its support to local fishermen, including those who engage in subsistence fishing for salmon, herring, crab, and halibut. Its commitment to the region's fisheries is further demonstrated through its provision of loans for fishermen to purchase vessels, gear, and secure equity interests in companies and vessels. Restoring salmon runs is another key priority for NSEDC, with benefits extending to both commercial and subsistence users.
In essence, Norton Sound Economic Development Corporation serves as a catalyst for economic growth and development within the region. By providing essential resources and opportunities, NSEDC enables the community to thrive and sustainably participate in the fisheries sector.
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Impact
October, 2024
Norton Sound Economic Development Corporation significantly impacts the Norton Sound Region through economic development initiatives designed to enhance the local economy and empower its residents. By managing Community Development Quota (CDQ) allocations and Individual Fishing Quota (IFQ) holdings, the organization ensures the sustainable utilization of marine resources while maintaining active participation in distant-water fisheries in the Bering Sea and Aleutian Islands.
The efforts to educate, train, and employ local residents create job opportunities and enhance workforce skills, directly benefiting the community. Additionally, the Corporation focuses on building essential infrastructure to support both new and existing fisheries, facilitating growth within these vital sectors of the local economy.
By supporting local fishermen involved in salmon, herring, crab, and halibut fishing, and engaging in initiatives to restore salmon runs, the Corporation bolsters subsistence and commercial fishing practices critical to cultural and economic sustainability in the region. Furthermore, it provides financial assistance through loans for fishing gear and vessels, ensuring that local fishing operations can thrive.
Overall, the Norton Sound Economic Development Corporation plays a crucial role in fostering a balanced and resilient economic environment, promoting long-term community improvement and sustainability in the Norton Sound Region.
This information is meant to be a general summary of Norton Sound Economic Development Corporation. 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.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: -$7,068,119
- Program Service Revenue: $31,903,102
- Gross Receipts: $79,209,540
Assets and Liabilities:
- Total Assets: $379,957,471
- Total Liabilities: $68,806,504
- Net Assets: $311,150,967
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Harvesting Revenue
Revenue
$31,903,102
Organization Details
Founding Year
1993
Principal Officer
Janis Ivanoff
Website
www.nsedc.comNTEE Category
Code: S30 - Community improvement
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