Anchorage, AK
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)Norton Sound Economic Development Corporation, founded in 1993, is a mid-sized nonprofit that reported $16.4M in total revenue in fiscal year 2023. Revenue fell 40% from the prior year — a significant decline worth monitoring. Expenses of $39.8M exceeded revenue, resulting in a 143% operating deficit.
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.
NSSP and Tenders: Manages tender vessels to receive salmon and crab deliveries from our local fishers. These vessels also shuttle salmon, crab, bait and gear between our Nome and Unalakleet...
NSSP and Tenders: Manages tender vessels to receive salmon and crab deliveries from our local fishers. These vessels also shuttle salmon, crab, bait and gear between our Nome and Unalakleet processing facilities and our buying station operations throughout the region.
Community Benefit Program: Provides loans and grants through the Large Infrastructure Program, Bulk Fuel and Energy Subsidy Program, Small Business Initiative, Community Energy Fund and various other...
Community Benefit Program: Provides loans and grants through the Large Infrastructure Program, Bulk Fuel and Energy Subsidy Program, Small Business Initiative, Community Energy Fund and various other community outreach programs.
CDQ Harvest Management: Manages CDQ allocations and IFQ holdings.
Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency
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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)
Sign In — Free (10 views/day)| 2023 | 2022 | Change | |
|---|---|---|---|
| Revenue | $16,364,233 | $27,485,239 | -0.4% |
| Expenses | $39,798,531 | $50,285,679 | -0.2% |
| Net Income | $-23,434,298 | $-22,800,440 | +0.0% |
Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics
Financial Distress Indicator
Liquidity & Cash Position
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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics
Sign In| Name | Title | Hours/Week | Role | Reportable Comp | Other Comp | Total |
|---|---|---|---|---|---|---|
| Janis Ivanoff | President & CEO | 40.00 |
Officer
|
$334,315 | $66,094 | $400,409 |
| Simon Kinneen | Vice President | 40.00 |
Officer
|
$267,677 | $61,182 | $328,859 |
| Tyler Rhodes | COO | 40.00 |
Officer
|
$253,196 | $60,008 | $313,204 |
| Matt Coates | Treas and CFO | 40.00 |
Officer
|
$213,782 | $57,602 | $271,384 |
| Justin Noffsker | Operations Manager | 40.00 |
|
$174,330 | $35,848 | $210,178 |
| Wes Jones | Quota Manager | 40.00 |
|
$150,950 | $55,196 | $206,146 |
| Josh Osborne | NSSP Plant Manager | 40.00 |
|
$169,733 | $35,762 | $205,495 |
| Paul Ivanoff | Community Director | 40.00 |
|
$135,541 | $54,275 | $189,816 |
| Kathy Wheelehan | Corp. Secretary | 40.00 |
Officer
|
$158,700 | $24,579 | $183,279 |
| Renae Ivanoff | NSFR&D Dir | 40.00 |
|
$131,054 | $21,911 | $152,965 |
| Frank Katchatag | Chairman | 8.00 |
Officer
Director
|
$58,366 | $0 | $58,366 |
| James Sherman | Director | 8.00 |
Director
|
$56,722 | $0 | $56,722 |
| Milton Cheemuk | Director | 8.00 |
Director
|
$54,976 | $0 | $54,976 |
| Anna Oxereok | Director | 8.00 |
Director
|
$50,537 | $0 | $50,537 |
| Harvey Sookiayak | Director | 8.00 |
Director
|
$50,434 | $0 | $50,434 |
| Daniel Harrelson | Director | 8.00 |
Director
|
$50,419 | $0 | $50,419 |
| Morris Nashoanak | Director | 8.00 |
Director
|
$49,924 | $0 | $49,924 |
| Arthur Amaktoolik | Director | 8.00 |
Director
|
$49,509 | $0 | $49,509 |
| Preston Rookok | Director | 8.00 |
Director
|
$49,221 | $0 | $49,221 |
| Melvin Otton | Director | 8.00 |
Director
|
$47,494 | $0 | $47,494 |
| Dean Peterson | Director | 8.00 |
Director
|
$47,406 | $0 | $47,406 |
| Joseph Garnie | Director | 8.00 |
Director
|
$45,506 | $0 | $45,506 |
| Sara Seetot | Director | 8.00 |
Director
|
$40,001 | $0 | $40,001 |
| Frances Ozenna | Director | 8.00 |
Director
|
$34,579 | $0 | $34,579 |
| Shirley Antoghame | Director | 8.00 |
Director
|
$30,464 | $0 | $30,464 |
| Frieda Southall | Director | 8.00 |
Director
|
$13,155 | $0 | $13,155 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2024 | No data | No data | No data | No data |
| 2023 | $16,364,233 | $39,798,531 | $391,353,465 | $-23,434,298 |
| 2022 | $27,485,239 | $50,285,679 | $379,957,471 | $-22,800,440 |
| 2021 | $59,416,266 | $46,557,366 | $393,228,467 | $12,858,900 |
| 2020 | $43,295,497 | $44,951,992 | $294,734,347 | $-1,656,495 |
| 2019 | $47,204,366 | $48,594,293 | $275,311,073 | $-1,389,927 |
| 2018 | $39,629,685 | $39,776,310 | $248,768,683 | $-146,625 |
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