On The Hunt... Inside this issue: THE EYAK CORPORATION. December 2015

Transcription

1 THE EYAK CORPORATION Inside this issue: On The Hunt... CEO s and President s Message 1 CEO s and President s Message December 2015 Message from the Board of Directors 2015 AFN Convention Veteran Spotlight Sharing the Corporation with the Next Generation Cordova Shareholder Informational Meeting Emaan Unglua Welcome New Shareholders Remembrance Announcements What is Probate and Why does it Matter, Continued.. Frequently Asked Questions Dates To Remember Board of Directors TEC Staff Mission Statement Save-the-Date It was wonderful to see so many of you at our annual shareholder informational meeting in Cordova on November 13. Thank you Shareholder Advisory Committee for the great idea of a half-hour meet and greet period prior to the start of the meeting. It was a hit with the shareholders and we ll be sure to include a similar meet and greet period for the Seattle shareholder informational meeting in January. Thanks also to the Cordova Ikumat Dance Group for an excellent performance at the start of the meeting. Although we are a for profit corporation, we recognize and proudly celebrate our cultural heritage. The shareholder informational meetings are very important for the Eyak Corporation s board, management, and shareholders. The meetings provide shareholders and descendants living outside Anchorage an opportunity to meet in-person with the board and management and to remain up-to-date on the corporation s activities. In addition, the meetings provide us with a platform to hear first-hand (and always heart-felt) feedback from our most valuable asset, our shareholders. We were very pleased with the number of attendees at the Cordova shareholder informational meeting and support for the corporation. We greatly appreciate your questions and your recommendations. We recognize there are, and will always be, opportunities for improvement. We hope to see many more of you at our upcoming events over the next several months, including: A Christmas potluck in our Anchorage office for shareholders, family and staff from 2-4 p.m. on Friday, December 11; The Seattle shareholder informational meeting at the Doubletree Hilton (near SeaTac airport) on Saturday, January 23, from 4-6 p.m. (doors opening at 3:30 p.m. for a meet and greet period); and The Annual Meeting of Shareholders in Anchorage on Saturday, May 7 at the Embassy Suites Anchorage. We encourage you to attend as many of these events as possible. We want to visit with you, discuss the corporation with you and provide a comfortable, convenient way for you to visit with your extended Eyak family and friends. We wish each and every one of you a safe and enjoyable holiday season. Rod Worl Chief Executive Officer Nancy Barnes President

2 Page 2 Message from the Board of Directors Dear Shareholders, On November 13, the Board held our quarterly face-to-face meeting in Cordova. We schedule the Cordova Board and shareholder informational meetings to tie in with Native Village of Eyak s annual Sobriety Celebration and Veterans Memorial Potlatch. Our Land Committee also met in-person while the Board was in Cordova. As usual, we had a full plate Rhonda for Kelley the Board meeting. Among other things, the Board: Approved an Operating Agreement for our wholly-owned subsidiary Radio Bay, LLC; Approved the organization of a new wholly-owned subsidiary Resources71, LLC; Approved the TEC Business and Investment Strategy, as recommended by the Finance/Investment Committee; Engaged in extensive discussion with management on TEC s general and administrative expenses and return on equity; Approved a revised charter for the Audit Committee; Approved the following recommendations from the Shareholder Advisory Committee: That the next three eldest original male and female shareholders (as of December 31, 2015) be recognized in the 2015 Annual Report; A meet and greet period half-hour prior to the start of shareholder informational meetings; and That TEC s December shareholder newsletter include an announcement for shareholders to recommend candidates for Shareholder of the Year and Young Shareholder/Descendant of the Year; Received updates from the following committees: Audit; Communications; Descendant Issues; Donations; Finance/Investment; Governance; and Land; and Received an update on The Eyak Foundation. In addition, the Board appointed shareholder Matt McDaniel to the Eyak Permanent Settlement Trust Committee. We applaud Matt s willingness to volunteer his services for the benefit of TEC s shareholders, who are the beneficiaries of the Settlement Trust. On a final note, we are pleased that the corporation is able to provide a dividend of $11.11 per share that will be mailed out (or direct-deposited) on December 10, in time for the holiday season. We wish everyone a safe and happy Holiday Season.

3 Page 3 Alaska Federation of Natives (AFN) Convention, Elders and Youth Conference October 12-17, 2015 The AFN convention is the largest representative annual gathering in the United States of any Native peoples. Policy guidelines an d advocacy statements are set by the dozens of resolutions passed by voting delegates at the convention. The Eyak Corporation sponsored three Elders to attend the convention. Pictured below from left to right are Virginia Brizgaloff, Maggie Brizgaloff- Fennell, and Tracy List. Some of the resolutions can be seen below. For a complete list of the resolutions, visit: SPECIAL RECOGNITION A Resolution thanking President Barack Obama for visiting rural Alaska. iii 15-5 SUBSISTENCE Alaska s aboriginal citizen s opportunity and priority right to subsistence hunt, fish, trap and harvest. Cl iff HEALTH, SAFETY & WELFARE A resolution urging State of Alaska and the Federal Government to expand contracting and compacting of services to Alaska EDUCATION Oppose any legislation that would increase the minimum adjusted average daily membership requirement for rural school districts to be fully fund LAND & NATURAL RESOURCES A resolution urging State of Alaska and the Federal Government to act now to address climate change and its impacts in Alaskan communities to ensure community resiliency ANCSA/TRIBAL Martin Parsons Support of the development and expansion of Tribal Courts ANCSA/TRIBAL A resolution urging Congress to increase small and needy tribe funding to $300,000 Lewis and Lisa Lange 2015 Elders and Youth Conference Hosted by First Alaskans Institute, the theme of the 2015 conference is Not in Our Smokehouse which was first put forward by village youth, and represents the protection and love we feel for our peoples and our Alaska Native Ways of Life. Below is a sampling of the workshops offered to our Elders and Youth. Sug stun Circle Drum Making Weaving or Beading Alaska Native Song and Dance Learn and practice the Sugpiq (Alutiiq) language. Build mini drums from start to finish. Practice Southeast Weaving or practice Interior Beading. Practice drumming and singing from Southeast Alaska and Aleutian Chain.

4 Page 4 Veteran Spotlight - Larry Gordaoff, by Jerry O Brien Jr. Larry Gordaoff Larry Gordaoff was born in Cordova in 1950, to Mary and George Gordaoff. He was drafted into the U.S Army on September 14, 1969, when he was 19 years old. He served his country from 1969 to 1971 as a soldier of the 77 th Engineers Transportation Unit at Fort Eustis. Larry served as a Marine Engineer and a Diesel Training Instructor. Because Larry s brother Alex had served in Vietnam, the government prohibited Larry from serving overseas. While serving state-side, Larry was an Army Instructor managing Diesel Training at Fort Eustis, Virginia. Larry was also stationed at Fort Belvoir. Larry recalled losing one of his friends from Cordova, Mike Banta. Mike was killed in action by a sniper, just three days before his 21 st birthday. These are the subjects that are hard to discuss, but is good to know that our fallen brethren live on in the memories of their brothers. Fallen but not forgotten! Larry enjoyed traveling to the Smithsonian Institute in Washington, DC and the National Cemetery during his liberty from base. He also enjoyed visiting other historical sites as well. While these new sites were exciting new experiences, Larry missed home at times too. Larry commented that what he missed the most from home was the fish! At the end of his service he headed back to Cordova and worked as a crewman. He also worked on the pipeline and as a Marine Engineer with Crowley Marine. Larry has served in the American Legion for twenty years at Post #1 in Anchorage and #8 in Cordova. He has also recently started the Alaska Veterans Group in This organization is looking to manage a hand-up as compared to a hand-out. Larry has also worked with local and state government officials toward a proposed new license plate showcasing the Bronze Star. Larry s hobbies include model ship making and playing the guitar. Larry also desired to have this saying in his article: If you can read this thank a teacher. If you can read this in English thank a Vet. ************************************************************************************************* About the Veteran Spotlight This is a continuation of several Veteran Spotlights to express appreciation for our shareholder veterans who bravely served our country. The Board of Directors has authorized Jerry O Brien Jr., a veteran Marine, to take the lead on spotlighting our veteran shareholders.

5 Page 5 Sharing the Corporation with the Next Generation By Rikki Addy I am not an original shareholder, but I am a proud second-generation (descendant) shareholder. The Alaska Native Claims Settlement Act (ANCSA) is now approaching 44 years old and our original shareholder pool is aging gracefully. It is important for the next generation of shareholders to start getting involved with our corporation in order to continue moving forward, to grow, and to fulfill our mission of returning financial benefits to present and future shareholders through the development of economic opportunities and growth of our assets while protecting the ownership of our ANCSA lands and Native cultural heritage. Rikki Addy But how does one go about getting involved in our corporation? Getting involved can feel overwhelming to our descendants and younger shareholders, but there are many ways to start the process. In my experience, a great way to start is through Eyak Website education. & FaceBook The education can be done formally through a degree program at a college or university, or it can be informal, through reading articles/books and studying the many areas that affect our corporation s daily operations. Some recommended topics include: the history of ANCSA, the government contracting industry (with special focus on the Small Business Administration s 8(a) Program), current issues affecting Alaska Native Corporations and the Native community, and other business news in general. A simple Internet search can provide numerous resources on all of these topics, but this shareholder newsletter is also a great resource to share with descendants who want to learn more about TEC s current events. Another way to get involved with our corporation is by attending the annual meeting of the shareholders, informational meetings, and other corporate and community events. Elders, grandparents, parents, aunts, and uncles, please encourage our youth to attend these events with you, where our culture and corporate information can be shared face-to-face. Not only will those who attend learn about our corporation, but they will also help preserve our community by developing relationships with each other. Our corporation belongs to all of us, and there is no better way to grow a sense of passion than to realize that what happens to our corporation doesn t just affect one of us, it affects all of us. Melody Caudill & Turtle

6 Page 6 Cordova Shareholder Informational Meeting The Eyak Corporation held its annual shareholder informational meeting in Cordova on November 13th. Approximately 50 shareholders and descendants attended the event. The Cordova Ikumat Dance Group got the meeting off to a great start. Lt. Governor (and special guest) Byron Mallott then spoke on the importance of Alaska Native languages, among other things. Stanley Makarka CEO Rod Worl then provided a Management report, and answered questions. TEC s Senior Controller Sue Jolin followed with a financial update. Several Board members then gave brief presentations on matters they oversee. Jim McDaniel, Chair of the Donations Committee, provided an update of TEC s donations to Cordovabased entities in Jerry O Brien Jr. recapped the corporation s efforts to honor its VetHelen Makarka erans. TEC Board Chairman Martin Parsons, who also chairs the Land Committee, provided an update on TEC land issues, with input from Angela Butler, General Manager, Cordova Operations. Jim McDaniel, who also serves as Vice President of The Eyak Foundation, provided an update on the Foundation. When asked for feedback on the meeting, Geraldine O Brien responded, It was a very informative meeting. One of the best I ve been to. The Board and management wish to thank everyone who attended the meeting, the Cordova Ikumat Dance Group for performing at the meeting, staff Angela Butler and Teresa Barnes for overseeing the logistics, and Meat Freaks (owned by shareholders Ben, Brooke and Eli Johnson) for catering the event. We re already looking forward to next year s meeting. Jamie Foode Geraldine O Brien Larry Hansen Rikki Addy Nancy Barnes Nancy E Barnes

7 Page 7 Emaan Unglua: Your Grandmother s House The Native BRIDGE Language Learning Program Once upon a time, our Emaan (grandmothers) freely spoke to us in Sug stun: they shared stories, songs and taught us the Sugpiat ways. Along came language suppression in the 1880s, which was enforced by any means. In 1990, there were only 200 Sug stun speakers. Today, there are many efforts to revitalize our ancestral language. It was like we were a bridge over a gap, we children represented a voice for our Elders-who in their time were prohibited from speaking the language, and therefore, for the love of their children, never passed it on. And our parents saw the healing power of our language, through the confidence we displayed (Jesse DesRosier on learning his language). Sug stun has power and has to be spoken and used, not just recorded for someone to pass by and maybe use it one day. As long as we are here we need to use our Native language. Saving and further strengthening Sug stun is the very same as saving our own cultural beings while helping instill a long-neglected sense of pride and self-worth of our peoples. Some of the many benefits of learning our Native language include increased self-esteem, higher Native student retention and educational attainment, and the preservations of Native worldviews that are urgently needed as rudders in many of today s complex social situations with Native corporations. Our language is our relationship to our past, present and our future. In accordance with the World Language Learning Standards, Sug stun learners of Emaan Unglua will be able to: Martin Parsons 1. Communicate in everyday situations as well as in traditional and ceremonial situations; 2. Understand cultural traditions of the Sugpiat by learning stories, songs, dances and crafts; 3. Connect with other language learners and fluent Elders via distant learning. Learners will make the connections about Native historical and contemporary issues of Alaskans in our region an throughout the greater state; 4. Make comparisons among the different indigenous languages of Alaska; and 5. Build a Sug stun community of learners to revitalize and enrich the love or our language. Please join the learners of Emaan Unglua from your computer, tablet or smartphone. Every Wednesday night from 5:30PM-6:30PM AKST Lewis and Lisa Lange Melody Jordan Gary Hansen You can also dial in using your phone. United States: +1 (312) Access Code: With collaboration and support from The Eyak Corporation, John Yakanak, the Native Village of Afognak, the Potlatch Fund, the Nisqually Indian Tribe and June Pardue. Quyanaasinaq!

8 Page 8 Welcome New Shareholders James Allen Patrick Hunison Kyler Johnson Marie Nichols Remembrance It is with deepest sympathy and fond memories that we respectfully recognize those whom have passed. Nancy (Donaldson) Hines Donald Lilleness John Nichols Jenna ****************************************************************************************** Announcements The ad hoc Descendants Issue Committee has an opening for a shareholder or descendant. If you are interested in serving on the volunteer committee, please us at shareholder@eyakcorp.com The ad hoc Shareholder Advisory Committee is seeking nominations for a Shareholder of the Year Award, for the Board s consideration. Five criteria will be considered for the award: (1) Alaska Native shareholder of The Eyak Corporation; (2) dedication to Alaska Native culture; (3) community service; (4) leadership; and (5) integrity. The committee is also seeking nominations for a Young Shareholder/Descendant of the Year. The criteria for the award include the following: (1) Alaska Native shareholder of The Eyak Corporation or lineal descendant under 30 years of age; (2) dedication to Alaska Native culture; (3) community service; (4) leadership; and (5) integrity. You can submit nominations via to shareholder@eyakcorp.com, via facsimile to (907) (attention Brennan Cain), by mail to 360 W. Benson Blvd., Suite 210, Anchorage, AK 99503, or by hand-delivery to our Anchorage or Cordova offices. The deadline for receipt of the submissions is December 31, Congratulations to TEC President Nancy Barnes on her re-election to the Alaska Federation of Natives (AFN) Board of Directors during AFN s Convention in October. Nancy serves as the Chugach region villages representative. If you would like to get important updates throughout the year on AFN activities from Nancy, please let us know via shareholder@eyakcorp.com. The Seattle Indian Health Board provides a variety of services for elders and veterans ( (206) )).

9 Page 9 What is Probate and Why Does it Matter, by William Pearson I am often asked what is probate and when does it apply. Probate is a legal process to clear title to property when someone passes away and allow the property to pass to the beneficiaries of decedents. Below are some questions and answers to give you the basic feel of the probate process and whether it will apply to you. Question: I own a vacant lot in Cordova. What happens to the lot when I pass away? Answer: If you received title to the property from The Eyak Corporation then you own the property and on your death it would be a probate asset. In Alaska, all land is subject to the probate process. What this means is that someone needs to be appointed as Personal Representative to administer and resolve your estate. This representative is typically nominated in your Will. The Personal Representative has the responsibility to take possession of your property (house, car, bank accounts, fishing permits, etc.), determine creditors, and distribute your estate. Question: How long will probate take? Answer: The answer is it depends. Alaska statutes state that it is a minimum six month process from the date of death to the request for the court to close the estate. The exact time depends on what you own, how long Eyak Website & FaceBook it takes to sell it, if there are any debts of the estate that need to be paid and whether or not any other legal issues arise. Question: I own a vacant lot in Cordova that is not worth very much and will be hard to develop, rent an apartment, own a car and a bank account. Will my estate go through probate? Answer: Yes, because you own land, referred to as real property, a probate must be opened. The reason is that the State of Alaska wants to ensure a proper chain of title for all land, regardless of the value. Question: I own a car, rent an apartment and have a bank account. I don't own any land. Will my family have to go through probate? Answer: Again, the answer is, it depends. In Alaska, if you assets are worth less than $50,000 or your vehicles are under $100,000 you will not have to go through probate, so long as you do not own any land. Question: Is my family personally responsible for my debts? Answer: No one is responsible to pay another person's debts unless they have co-signed on the loan. However, should a family member agree to serve as the Personal Representative of your estate, they will have the responsibility to collect your assets, determine the creditors, and if the estate has funds, pay the legitimate creditor claims before making distributions to your family members. Question: I have a friend that has a Native Allotment. Is that the same kind of probate? Answer: A Bureau of Indian Affairs probate is required for property that is held in restricted status, which is a Native Allotment. That is a specialized probate governed by the Bureau of Indian Affairs. Such property is called Native Allotment property and must pass to a Native or the restricted status will be lost. The Bureau of Indian Affairs handles these probates.

10 Page 10 Question: Do I need a lawyer to help my family through the probate process. Answer: You are not required to hire an attorney to probate your estate. However, because of the intricacies of the law and notice requirements, it is recommended that you speak with and consider retaining an attorney. Question: What should I do during my lifetime? Answer: I have been working in the estate planning field for over a decade and my advice is for you to make a Will. The probate process is much easier on your family when you have written down your wishes. About William Pearson William (Bill) Pearson is a shareholder with the law firm of Foley, Foley & Pearson, P.C. A graduate of the University of Iowa College of Law, Bill is the past co-chair of the Estate Planning and Probate Section of the Alaska Bar Association. Currently, Bill is President Elect of the Anchorage Estate Planning Council. He is married to Rebecca Windt Pearson and they have one son, Sam, who is currently learning to walk. ****************************************************************************************** Frequently Asked Questions Q. I have recently been gifted shares of stock in The Eyak Corporation. I am 1/8th Alaska Native. Do I have voting rights? A. Welcome new shareholder! Yes, as an Alaska Native shareholder, you have voting rights. Q. Can you please offer childcare assistance during shareholder informational meetings? A. That s a great idea. We will explore a childcare option for future shareholder informational meetings (and the annual meeting of shareholders). Q. Can you please remind shareholders planning to build in Hartney Bay Subdivision to confirm the boundaries of their land before starting to build? A. Yes. It is very important that landowners confirm the boundaries of their land before building on the property. Q. Why is the Board exploring descendant enrollment? A. Several years ago, shareholders asked the Board to look into descendant enrollment. In 2014, an ad hoc Descendant Issues Committee, consisting of TEC Board members and other shareholders, began researching the issue of descendant enrollment. The committee is continuing its research on the issue. (Answers provided by the Communications Committee. Please submit questions via to Shareholder@EyakCorp.com, and we will include answers for one or more in the next newsletter.)

11 Page 11 Dates to Remember & Special Announcements Board of Directors December The Eyak Corporation 2015 dividend distribution 11 - Shareholder Potluck, Anchorage Office 2:00-4:00 p.m Office Closed Christmas January Office Closed New Year s Day 22 - TEC Board Strategic Planning, Seattle 23 - TEC Shareholder Informational Meeting, Seattle February /2-2/8 - Cordova Ice Worm Festival April 2016 TBD Eyak Permanent Fund Settlement Trust Distribution 15 - Tax Day May Annual Meeting of Shareholders Staff Martin Parsons, Chairman Nancy Barnes, President Jim Ujioka, Vice President Rikki Addy, Treasurer Roxanne Dolfi, Secretary Steve Donaldson, Director Sylvia Lange, Director Jim McDaniel, Director Jerry O Brien Jr., Director Rod Worl Chief Executive Officer Ext 1 Tor Daley Vice President, Finance Ext 3 Brennan Cain Vice President & General Counsel Ext 5 Angela Butler General Manager, Cordova Operations Kate Kalkman Administrative Assistant Ext 1 Teresa Barnes Administrative Assistant Cordova Office Sue Jolin Senior Controller Ext 7 Dorothy Kennedy Senior Accounting Supervisor Ext 2

12 The Eyak Corporation Mission The Eyak Corporation will return financial benefits to present and future shareholders through the development of economic opportunities and growth of our assets while protecting the ownership of our ANCSA lands and Native cultural heritage. Contact Us: THE EYAK CORPORATION ANCHORAGE: CORDOVA: 360 W. Benson Blvd. 901 LeFevre St. Suite 210 P.O. Box 340 Anchorage, AK Cordova, AK Tel Tel SAVE THE DATE! Anchorage Office Potluck The Anchorage office will be holding a Potluck for shareholders and family on Friday, December 11th from 2:00 4:00 p.m. at our office on 360 W. Benson Blvd., in Suite 210. We look forward to seeing you! The Eyak Corporation Suite West Benson Boulevard Anchorage, Alaska 99503