Overview
What is Bristol Bay Economic Development Corp?
The Bristol Bay Economic Development Corp (BBEDC) is a nonprofit organization based in Dillingham, Alaska, dedicated to promoting economic growth and opportunities for its member communities through sustainable use of Bering Sea resources. In 2020, they managed several development programs, including the Community Block Grant (CBG) which enabled their CDQ communities to fund projects that foster sustainable community and regional development. Despite requesting $8,430,000 and being awarded $5,850,000, the Infrastructure Grant Fund (IGF) did not award any grants to communities that year. Another program, the Arctic Tern, provided funding for communities to support employment and educational activities for resident youth under 17. However, the funding allocated decreased from $52,945 in 2019 to $23,490 in 2020. The Interest Rate Assistance Program granted $39,794 to 18 residents, a decrease from 21 residents and $45,163 in 2019. Additionally, the organization provided Grant Writing Assistance of $16,574 and Technical Assistance of $8,985 to communities in 2020. Amidst the COVID-19 pandemic, BBEDC also created a Commercial Fisheries Interests Fund to assist communities with a crab investment opportunity, awarding $1,999,430. The organization had a workforce of 35 employees in 2020.
Official website here: www.bbedc.com
Is Bristol Bay Economic Development Corp legitimate?
Bristol Bay Economic Development Corp is a legitimate nonprofit organization registered as a 501(c)(4) entity. Bristol Bay Economic Development Corp 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 not tax deductible.
Here are some key statistics you may want to consider:
Executive Compensation: $1,279,478
Professional Fundraising Fees: $0
Other Salaries and Wages: $682,036
For more financial information, click here
What is the mission statement of Bristol Bay Economic Development Corp?
The Bristol Bay Economic Development Corporation (BBEDC) is dedicated to fostering economic growth and opportunities for the residents of its member communities. This mission is pursued through the sustainable use of Bering Sea resources. In 2020, BBEDC's Community Block Grant (CBG) program funded projects that promoted community and regional development, with $8.43 million awarded to its CDQ communities. Additionally, a crab investment opportunity arose, and communities were allowed to request CBG funding in 2020 for this purpose, resulting in $1.92 million being granted. BBEDC's Infrastructure Grant Fund (IGF) program provides a source of funds for broad public infrastructure as well as business infrastructure development. Tribal and city governments are eligible to apply for up to $2 million. Unfortunately, no communities were awarded the grant in 2020. The Arctic Tern Program supports employment and educational activities for resident youth under the age of 17, and $23,490 was awarded in 2020. Moreover, the Interest Rate Assistance Program provided assistance to 18 residents with $39,794, and also offered grant writing assistance and technical assistance to communities.
Official website here: www.bbedc.com
Who is the CEO of Bristol Bay Economic Development Corp?
Michael Link is the Principal Officer of Bristol Bay Economic Development Corp. The CEO's salary of Bristol Bay Economic Development Corp is $268,844 and their total compensation is $310,693.
Official website here: www.bbedc.com
What is the revenue of Bristol Bay Economic Development Corp?
Bristol Bay Economic Development Corp's revenue in 2020 was $27,584,898.
Official website here: www.bbedc.com
Who are the executives of Bristol Bay Economic Development Corp and what are their salaries?
The average compensation at Bristol Bay Economic Development Corp during 2020 was $56,043. There are 35 employees at Bristol Bay Economic Development Corp.
Here are 25 key members and their salaries (Bristol Bay Economic Development Corp's CEO's salary is $268,844 and their total compensation is $310,693):
- Norman Van Vactor (President & Ceo)
- Paul Peyton (Sio)
- Staci Fieser (Cfo)
- Helen Smeaton (Coo)
- Christopher Napoli (Cao)
- Alice Ruby (Program Director)
- Clifford Tubbs (Finance Officer)
- H Robin Samuelsen Jr (Chairman) [Trustee/Director]
- Robert Heyano (Treasurer) [Trustee/Director]
- Hattie Albecker (Secretary) [Trustee/Director]
- Gerda Kosbruk (Board Member) [Trustee/Director]
- Fred T Angasan Sr (Vice Chairman) [Trustee/Director]
- Victor Seybert (Board Member) [Trustee/Director]
- Mary Ann Johnson (Board Member) [Trustee/Director]
- Kenneth Jensen (Board Member) [Trustee/Director]
- Louie Alakayak Sr (Board Member) [Trustee/Director]
- Mark Angasan (Board Member) [Trustee/Director]
- Jimmy Coopchiak (Board Member) [Trustee/Director]
- Fritz Sharp (Board Member) [Trustee/Director]
- Michael Gottschalk (Board Member) [Trustee/Director]
- Alexander Tallekpalek (Board Member) [Trustee/Director]
- Margie Aloysius (Board Member) [Trustee/Director]
- Harry Wassily Sr (Board Member) [Trustee/Director]
- Justin Alto (Board Member) [Trustee/Director]
- William Yost (Alt Board Member) [Trustee/Director]
Official website here: www.bbedc.com
Where can I find the form 990 for Bristol Bay Economic Development Corp?
The Bristol Bay Economic Development Corp’s most recent form 990 was submitted in 2020 and can be accessed here
Official website here: www.bbedc.com
Learn more at the official website: www.bbedc.com
Mission Statement of Bristol Bay Economic Development Corp
The Bristol Bay Economic Development Corp (BBEDC) is a dedicated organization with a mission to foster economic growth and opportunities for the residents of its member communities. With a focus on sustainable use of the Bering Sea resources, BBEDC works tirelessly to promote development and improve living conditions.
In 2020, despite the challenges posed by the COVID-19 pandemic, BBEDC demonstrated its commitment to this cause. Through their Community Block Grant (CBG) program, they provided funding to their CDQ communities to support projects that promoted sustainable community and regional development. Though requests totaled $8,430,000, $11,912,430 was awarded between the CBG and other programs, enabling numerous initiatives to come to fruition.
Another significant development was the creation of a BSAI Commercial Fisheries Interests Fund, which provided communities with assistance for a crab investment opportunity. With a request of $1,999,430, this fund marked another step towards economic growth and opportunity for BBEDC members.
Beyond these programs, BBEDC also offers the Infrastructure Grant Fund (IGF) to provide a source of funds for public and business infrastructure development, with applications accepted from tribal and city governments up to $2,000,000. No communities were awarded the grant in 2020. Furthermore, the Arctic Tern Program offered funding for communities to support employment and educational activities for resident youth under the age of 17, awarding $23,490 in 2020. Lastly, the Interest Rate Assistance Program provided $39,794 in interest rate assistance to 18 residents. Grant writing assistance and technical assistance were also provided to communities for a total of $25,559.
By providing various funding opportunities and support services, the Bristol Bay Economic Development Corp plays a crucial role in promoting economic growth and opportunities for its member communities.
Impact
This information is meant to be a general summary of Bristol Bay Economic Development Corp. Please take the time to review official sources before making any decisions based upon the content provided here.
Thursday, August 15, 2024
Bristol Bay Economic Development Corp's impact is evident through its efforts to promote economic growth and opportunities for residents of its member communities. Through sustainable use of the Bering Sea resources, the organization has facilitated the implementation of various programs aimed at community and business development. In 2020, despite the challenges posed by the COVID-19 pandemic, BBEDC continued to support its member communities through initiatives like the Community Block Grant program, Crab Investment opportunities, and the creation of the BSAI Commercial Fisheries Interests Fund. These efforts have enabled communities to fund projects that promote sustainable development, business infrastructure, youth employment, and educational activities. Additionally, the organization provided essential support such as interest rate assistance, grant writing assistance, and technical assistance to residents and communities in need. Overall, Bristol Bay Economic Development Corp's impact is significant in fostering economic viability and resilience in its member communities.
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 2020.
- Assets and Liabilities:
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
CDQ ROYALTIES
Revenue
$14,811,728
EQUITY IN EARNING OF AFFILIATE
Revenue
$7,328,663
IFQ ROYALTIES
Revenue
$2,166,051
Organization Details
Founding Year
1992
Phone
(907) 842-4370
Principal Officer
Michael Link
Main Address
PO BOX 1464, DILLINGHAM, AK, 99576
Website
www.bbedc.com
NTEE Category
Code: S30 - Community improvement
If you are a representative of Bristol Bay Economic Development Corp and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.