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Norton Sound Economic Development Corporation

Social welfare
DBA: Development Corporation
Social Welfare / Advocacy · ANCHORAGE, AK · EIN 86-0710582

About

To develop and sustain new and ongoing economic activity in the Norton Sound region. The Company's mission outlines its intentions to provide a balance between local economic development oriented towards the residents in the region and active participation in the distant-water fisheries in the Bering Sea and Aleutian Islands. The Company implements programs to educate, train, and employ people of the region; build infrastructure to help support the new and existing fisheries; start new fisheries through locally initiated development efforts; support the local salmon, herring, crab, and halibut fishermen; restore salmon runs in the region for both commercial and subsistence users; provide loans for gear, vessels, and secure equity interests in companies and vessels. The Company has not entered into any significant long-term agreements or commitments other than its agreements with the harvesters of its CDQ allocations.

DBA Development Corporation

Donations are NOT tax-deductible
Category
Social Welfare / Advocacy
Employees
277
Volunteers
—

Financial Snapshot

FY ending 2024-12-31
Revenue
$27.5M
Expenses
$35.1M
Assets
$400.6M
Liabilities
$66.2M

Financial history

$50.3M$25.1M$0
161718192021222324
RevenueExpenses
Latest FY2024: $27.5M · Peak FY2019: $47.2M · Avg: $34.4M

Political & Grant Activity

Campaign Spending
—
Lobbying
—
Grants Given
$8K
NORTON SOUND ECONOMIC DEVELOPMENT CORPORATION
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Address

2701 Gambell Street Suite 400
Anchorage, AK, 99503-283

Governance

Voting board members15
Independent members0
Conflict-of-interest policyYes
Whistleblower policyNo
Doc-retention policyYes
Audit committeeYes
990 reviewed by boardNo

Compensation practices

Severance paymentsNo
Equity-based compNo
Supplemental retirement planNo
Compensation committeeYes
Initial contract exceptionNo

Financial detail (Schedule D)

Board-designated %100.0%
Endowment held by related orgNo
Public records
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