Announcements

First Ever BEST Elder Benefit $300 Each!

BEST will also issue its first ever Elders Benefit this year. On June 30, 2023, shareholder beneficiaries approved an amendment to BEST authorizing an optional BEST Elders Benefit program. As a result, the BEST Board of Trustees has approved a special distribution of $300 per eligible elder to be payable on December 7, 2023.  Combined with the $4.47 per share distribution by BEST, eligible elders with 100 shares in BNC will receive a total of $747.00 from BEST this year.  Eligible elders are those BNC shareholders who are sixty five years or older as of December 1, 2023.

Any elder desiring to opt out of the elder benefit program over concerns that the payment may impact their eligibility for state or federal assistance, may contact Ana Hoffman, BNC President & CEO.  For more information please call 907-543-2124 or email bethel@bncak.com.

Elkartaa is a Yup’ik word meaning: to settle in place.

 

On December 7, 2023, Bethel Elkartaa Settlement Trust (BEST) distributions in the amount of $4.47 per share will be made to shareholder beneficiaries.  This results in an average payment of $447 for shareholder beneficiaries with 100 shares in Bethel Native Corporation (“BNC”). The BNC Board of Directors determines an annual cash contribution to BEST, which funds this payment, based on BNC’s five year average net income.  Distributions from BEST will be tax free to the shareholder beneficiaries.

BEST will also issue its first ever Elders Benefit this year. On June 30, 2023, shareholder beneficiaries approved an amendment to BEST authorizing an optional BEST Elders Benefit program. As a result, the BEST Board of Trustees has approved a special distribution of $300 per eligible elder to be payable on December 7, 2023.  Combined with the $4.47 per share distribution by BEST, eligible elders with 100 shares in BNC will receive a total of $747.00 from BEST this year.  Eligible elders are those BNC shareholders who are sixty five years or older as of December 1, 2023.

With the majority of shareholders residing in and around Bethel, these annual distributions have a significant impact on the local economy.  This December an aggregate amount of nearly $1 million is set to be distributed by BEST. Since 1987, annual payments have consistently been made, reaching approximate $15 million in total distributions to date.

For fifty years, Bethel Native Corporation has remained proudly headquartered in Bethel.  Any elder desiring to opt out of the elder benefit program over concerns that the payment may impact their eligibility for state or federal assistance, may contact Ana Hoffman, BNC President & CEO.  For more information please call 907-543-2124 or email bethel@bncak.com.

Elkartaa is a Yup’ik word meaning: to settle in place.

 

In April 2023, the BEST trustees presented proposed amendments to the beneficiaries to consider establishing an Elders Benefits option. An Elder is defined as a shareholder beneficiary age 65 or older and the benefits can be cash distributions or other benefits determined by the trustees in their discretion.  BEST amendments require a beneficiary vote of fifty percent plus one to be in favor of the proposal in order to be adopted.  By the June 30th deadline, 57% of the outstanding beneficiary votes were cast.  The results are as follows: 51% in favor and only 6% opposed.  The BEST Elder Benefit Amendments have been adopted.

Quyana for voting!

 

Congratulations Bethel Native Corporation Final Proxy Prize Winners!

This final proxy prize deadline was Friday, May 5, 2023 at 5 pm.

The final proxy prize winners also randomly selected by the Inspectors of Election:

$1000 Prize –

• Frank Gregory, III; Bethel, AK
• Paul Chief; Bethel, AK
• Dorine Kay Sumstad, Tualatin, OR
• Jack Martin Kinegak, Bethel, AK

$  500 Prize –

• Karen E Thompson, Bethel, AK
• Jana C Ashepak; Bethel, AK
• Elizabeth Japhet; Bethel, AK
• Mary M Gregory; Anchorage, AK

$  100 Prize

• Simon Peter Herman; Anchorage, AK
• Ida Jane Kernak; Anchorage, AK
• Paula Rose Handricks; Soldotna, AK
• Jean Helmick; Bethel, AK
• Gage W Hoffman; Bethel, AK
• Valerie Tiffany Agnes Napoka; Tuluksak, AK
• Nastasia Olga Silook; Anchorage, AK
• Kirsten Mary Kinegak-Friday; Anchorage, AK
• Rose Ann Henderson; Bethel, AK
• Leslie Westdahl; St Mary’s, AK

The names of these winners were randomly selected by the Inspectors of Election.  In total $20,000 in proxy prize money has been awarded in relation to the 2023 annual meeting.

Quyana!

On Saturday, May 6, 2023, the Inspectors of Election announced there was a quorum present at the Bethel Native Corporation annual meeting of shareholders with 77,402.9122 shares represented in person or by proxy.  A total of 157,032.8993 outstanding shares were entitled to vote.

The election inspectors announced the Board of Director election results as follows:

Alton Alexie received 48,054.5378 votes

A. Louise Charles received 41,062.6840 votes

Mary Kenick received 34,780.4639 votes

Monique Henriksen received 16,341.2340 votes

Robert J Hoffman received 59,545.5950 votes

Kirsten M Kinegak-Friday received 30,597.5051 votes

Congratulations to the following persons elected to serve a three year term: Robert J Hoffman, Alton Alexie and A. Louise Charles.

The BEST Board of Trustees extended the deadline to submit the BEST ballot amendment to provide the option for an Elders Benefit to June 30, 2023.

Quyana to all six candidates for your interest! Quyana shareholders for submitting your proxy!

Congratulations Bethel Native Corporation Second Early Bird Proxy Prize Winners!

$1,000 Prize –

• Olga K. Roland; Bethel, AK
• Hugh Augustus Snyder; Bethel, AK
• Lana Ann Bray; Chugiak, AK
• Kimberly D Jung; Wasilla, AK

$   500 Prize –

• Christopher Herman; Bethel, AK
• Andrew Kawagley; Akiachak, AK
• Albert James Tikiun; Berea, OH
• Glenn Anvil; Wasilla, AK
• Elena Haroldson; Bethel, AK

The final proxy prize deadline is Friday, May 5, 2023 at 5:00 p.m.

There are $20,000 in proxy cash prizes to be awarded! Shareholders are eligible to win one prize from each category, please submit your proxy before the next deadline!

All proxy prize winners are randomly drawn by the Inspectors of Election, Mikunda Cottrell Accounting & Consulting.  Shareholders who submitted their proxy by 5 pm on April 21 qualified for the first early bird drawing.  Cash prizes payments will be processed only after quorum for the annual meeting is declared.

The BNC annual meeting is scheduled for Saturday, May 6, 2023.

Contact BNC at 907-543-2124 if you have any questions.

 

 

Congratulations Bethel Native Corporation Early Bird Proxy Prize Winners!

$1,000 Prize –

• Joann Brenda Paul; Atmautluak, AK
• James Alexie; Eek, AK
• Gertrude E Green; Bethel, AK
• Courtney James Geerdts; Bethel, AK

$   500 Prize –

• James Segundo Hoffman; Anchorage, AK
• Cara Brianne Cecelia Thompson; Bethel, AK
• Carol Rodgers Witt; Empire, CO
• Margie H Frost; Togiak, AK
• John Andrew, III; Albuquerue, NM

The second early bird deadline is Friday, April 28 at 5:00 p.m.

The final proxy prize deadline is Friday, May 5, 2023 at 5:00 p.m.

There are $20,000 in proxy cash prizes to be awarded! Shareholders are eligible to win one prize from each category, please submit your proxy before the next deadline!

All proxy prize winners are randomly drawn by the Inspectors of Election, Mikunda Cottrell Accounting & Consulting.  Shareholders who submitted their proxy by 5 pm on April 21 qualified for the first early bird drawing.  Cash prizes payments will be processed only after quorum for the annual meeting is declared.

The BNC annual meeting is scheduled for Saturday, May 6, 2023.

Contact BNC at 907-543-2124 if you have any questions.

 

Dear Shareholders,

This letter is intended to explain Board meeting attendance protocols. At BNC’s annual shareholders’ meeting, Directors are elected to serve on the Board of Directors to represent shareholder interests and to govern and grow BNC. Over the last fifty years, BNC has become a complex and sophisticated company. Consistent with BNC’s growth, the Board has worked diligently to incorporate industry and corporate best practices, based on guidance from legal counsel and other advisors concerning effective and efficient governance. One of those best practices is maintaining appropriate attendance at Board meetings.

Board meetings are held for the Board of Directors to make decisions regarding the operations and the strategic direction of the corporation. As a part of this process, the Board receives updates from management and advisors regarding confidential business matters. These updates often include confidential or sensitive information about corporate assets, investments, contract execution, real estate, financial performance, future opportunities, competition, and corporate strategy. The members of the Board of Directors have a fiduciary duty and legal obligation to act in BNC’s best interest and protect this information. Accordingly, to fulfill Directors’ obligation to protect corporate assets and strategy, it is necessary to limit attendance at Board meetings to Directors, Executive Officers, and advisors as necessary. This is not only appropriate, but the normal course of business for BNC specifically, and Alaska Native Corporations generally. In fact, it would be extraordinarily unusual for a Native Corporation to regularly allow (non-Director) shareholder attendance at Board meetings.

To facilitate shareholder involvement and engagement, the Board includes a “persons to be heard” portion on the agenda of its meetings. During this agenda item, any shareholder can attend, ask questions, and raise any issue, without limitation. The Board continues to welcome, appreciate and encourage shareholder participation in this manner. Additionally, individual shareholder engagement and assistance is available through BNC’s corporate headquarters in Bethel and its subsidiary office in Anchorage. Shareholders with questions, concerns, or suggestions about operations, can always contact the office by calling 907-543-2124 or emailing bethel@bncak.com. The general activities of the corporation are provided to shareholders through the distribution of the annual report, shareholder newsletters, direct mailers and through presentations provided during the annual meeting of shareholders.

On behalf of the BNC Board, thank you for the opportunity to provide this explanation.

Quyana,

Ana Hoffman, President/CEO 

Attention Bethel Native Corporation shareholders:

The BNC Annual Shareholders Meeting is scheduled to take place in person on Saturday, May 6, 2023 at the Yupiit Piciryarait Cultural Center in Bethel.

If you have any questions about the upcoming annual meeting, please call the Bethel Native Corporation office at 907-543-2124 during normal business hours.

The Trustees of Bethel Elkartaa Settlement Trust (BEST) approved a beneficiary distribution equal to $3.12 per unit share to be payable in December.   To request direct deposit, please submit your direct deposit form to the BNC office in Bethel office by November 10, 2022.  The shareholder record date for this distribution is Nov 11, 2022.  If you have moved, please update your mailing address in writing.

The annual distribution amount is determined by a dividend formula based on a five-year average performance. All shareholders of BNC are also beneficiaries of BEST.  This will be the thirty-fifth year of consistent annual dividends.  The annual distributions have a significant impact on the local economy since the majority of the shareholders still reside in and around the Bethel area.  The corporation continues to remain headquartered in Bethel with operations in Alaska and along the Pacific coast.

The Bethel Native Corporation Board of Directors serve as Trustees of the Bethel Elkartaa Settlement Trust.  Ana Hoffman serves as the President/CEO.

If you have any questions, please call the Bethel office at 907-543-2124 or email bethel@bncak.com.

On Saturday, May 7, 2022, the Inspectors of Election announced there was a quorum present at the Bethel Native Corporation annual meeting of shareholders with 81,121.14 shares represented in person or by proxy.  This represents 51.7% of the total 157,032.8993 outstanding shares entitled to vote.

The election inspectors announced shareholders overwhelmingly approved the adoption of the Amendment to the Articles of Incorporation and provided the Board of Director election results as follows:

Gregory Hoffman, Sr  received 44,192.56 votes

Robert J Hoffman received 43,037.83 votes

Robert Lekander received 46,368.33 votes

Rose “Sugar” Henderson received 24,212.95

Beverly Ann Hoffman received 45,138.35

Bethany Kaiser received 36,622.82

Congratulations to the following persons elected to serve a three year term: Robert Lekander, Beverly Hoffman and Gregory Hoffman, Sr.

Quyana to all six candidates for your interest! Quyana shareholders for submitting your proxy!

______________________________________________________________________________________________________________

If you want to opt in or opt out of receiving your annual meeting materials electronically in the future, please contact the BNC office at 907-543-2124 or email bethel@bncak.com to communicate that request.

Congratulations to the Final Proxy Prize Winners!

$1,000  Gwendolynn Anna Gellerman, Anchorage, AK

$1,000  Ignatius Louie Andrew, Bethel, AK

$1,000  Adams Hollis Twitchell, Anchorage, AK

$1,000  David Nicholson, Dillingham, AK

$   500  Lanai Karoline Laraux, Bethel, AK

$   500  Christopher Charles, Bethel, AK

$   500  Stella Denise Adams, Soldotna, AK

$   500  Gwendolynn Geerdts Foster, Wasilla, AK

$   100  Christian S. Kompkoff, Tatitlek, AK

$   100  Joann Tikiun, Nunapitchuk, AK

$   100  Celeste Adkins, Aniak, AK

$   100  Myrna Lee Crutcher, North Pole, AK

$   100  Onessia Bahr, Unalakleet, AK

$   100  Luella Catherine Stephens, Tulalip, WA

$   100  Rex Kawagley, Bethel, AK

$   100  Peter Nook, Kalaskag, AK

$   100  Karl Dean Jones, Quinhagak, AK

$   100  Walter E. Pete, Aniak, AK

Congratulations to the 2022 Second Early Bird Proxy Prize Winners!

$1,000   Raini Thorson, Gilbert, AZ

$1,000   Stella Wasuli, Bethel, AK

$1,000   John Adolf Nick Jr., Bethel, AK

$1,000   Clara R Wassillie, Bethel, AK

$ 500     Raymond H Andrew, Togiak, AK

$ 500     Daniel Delos Barnhard, Anchorage, AK

$ 500     Rebecca Hastie, II, Bethel, AK

$ 500     Martha Jane Jack, Wasilla, AK

$ 500     Stephanie Janeen Lieb, Anchorage, AK

Congratulations to the 2022 First Early Bird Proxy Prize Winners!

$1,000   Georgina Sumstad, Anchorage, AK

$1,000   Barbara Evon, Anchorage, AK

$1,000   Mary Twito, Bethel, AK

$1,000   Gary Alan Samuelson, Bethel, AK

$ 500     Darold Hoffman, Jr, Bethel, AK

$ 500     Mary Diana Brogdon, Juneau, AK

$ 500     Lee Stewart, Bethel, AK

$ 500     Melissa Alick, Pilot Station, AK

$ 500     Lucy Ann Fox, Bethel, AK

Congratulations to all of the 2022 Proxy Cash Prize Winners!

Contact BNC at 907-543-2124 if you have any questions.

 

 

 

Bethel Native Corporation is a for-profit village corporation formed under ANCSA.  On May 1, 2021, a virtual annual shareholders meeting was held.  At this meeting, shareholders elected to the board of directors Lyman Hoffman, Henry Hunter and Donna Lindsey to serve three year terms.  Quyana for submitting your shareholder proxy!

March 31, 2021

Dear Bethel Native Corporation shareholder:

Camai! Calialput 2020-aami wani kalikami paivngaut. Camek nallunrivsiaryukuvet, Mamterillermi calivimteni qayagaurniarpecia.

2020 was a unique year filled with challenges, uncertainties and unexpected opportunities. Every person, business and community was impacted by the global health pandemic. The year was one of change and adjustment that provided individuals and organizations an opportunity to reflect and adapt to new ways of interacting and operating. Bethel Native Corporation implemented additional health and safety protocols, established greater remote capabilities and continued to maintain business operations throughout the year. In 2020, the annual revenues reached $93,125,122. Despite the operational-level losses, the consolidated performance was strong and produced an income of $16,723,966. This year marks 47 years of successful operations.

Examining the operational performance, subsidiary company revenues declined from 2019. A portion of that reduction was due to the restrictions imposed by the health pandemic and subsequent delays impacting government contract work. Another portion of that reduction was intentional and part of the corporation’s strategic plan to rebalance operations overall. Implemented last year, this plan should continue to further reduce construction revenue while growing joint venture partnerships and professional services work. This focus is designed to reduce risk and improve operational performance over time.

Over the last four decades, Bethel Native Corporation has had years with successful operational income and years with earnings achieved through other income. In 2020, the other income component of the financials had a significant impact on the annual performance. Particularly impactful contributions in this section included a gain on sale related to the property holding in Colorado and a significant land contribution from the Corporation to the Bethel Elkartaa Settlement Trust (BEST).

One of the opportunities Bethel Native Corporation pursued and successfully completed last year was further diversification of the commercial property holdings. In December, Bethel Native Corporation successfully sold 50% of the Union Business Plaza in Colorado to a subsidiary of Calista Corporation. As a result, Bethel Native Corporation recognized a $2.8 million gain on the sale while still maintaining joint ownership of the property through a limited liability partnership called Avani, LLC. Diversifying real estate holdings has been a core line of business for many years and involves capitalizing on market timing to recognize increased property values and pursuing property sales once buildings have fully depreciated. This is a normal course of business and is done with properties held in Bethel, in Anchorage and elsewhere. This approach will continue to be an important component of achieving profitable operations for years to come.

Another innovative transaction positively impacting other income executed last year involved a transfer of a large portion of wetlands from Bethel Native Corporation to BEST. The property includes 85,485 acres of land located 58 miles southwest of Bethel between the villages of Tuntutuliak and Chefornak. The acreage is located within the Yukon Kuskokwim Delta Wildlife Refuge, and conservation was identified as the highest value use for that property. These characteristics made BEST the ideal placement of this property. Placed in BEST, the property maintains all of the same protections provided under the Alaska Native Claims Settlement Act (ANCSA) and cannot be sold to any third party. By completing this land transaction in 2020, Bethel Native Corporation achieved recognition of a sizeable unrealized gain listed under other income and secured over $73 million in future tax deductions. This equates to a cash value of over $15 million in tax savings applicable over the next 15 years. Bethel Native Corporation shareholders are all beneficiaries of BEST, and it is good to utilize this unique structure provided through ANCSA to facilitate long-term tax savings while enhancing land resources.

In December 2020, the BEST Board of Trustees authorized the distribution of $4.08 per unit (share) to all BEST beneficiaries. This was the third annual distribution from BEST. For 30 years, an annual dividend was paid to shareholders totaling over $11,000,000 in distributions. In 2018, shareholders voted to establish BEST and, already, over $1,983,172 has been distributed. The distributions made through BEST provide tax savings for the Corporation and ensure shareholder distributions remain tax free for all beneficiaries.

Throughout the last year, Bethel Native Corporation worked diligently to overcome the challenges presented by the adverse economic effects of the COVID-19 pandemic. This effort was achieved while continuing to maintain strong liquidity to meet all obligations and positioning the corporation to achieve future strategic goals.

Of paramount concern for the Bethel Native Corporation Board of Directors is the health and safety of shareholders and staff. As a result, the 2020 annual shareholders meeting was held virtually, and plans are in place to hold the 2021 annual meeting virtually, as well. Continued adherence to the recommended health guidelines and trust in the protections provided by the vaccines will help everyone move beyond this pandemic together. The Bethel area was hard hit by the pandemic, and witnessing our community’s resilience has been a powerful source of strength. Our collective endurance, patience and compassion will get us through this period in time.

Quyana Cakneq,

Anastasia Hoffman, President/CEO