BRISTOL BAY ECONOMIC DEVELOPMENT CORP

EIN: 920142567

DILLINGHAM, AK

Total Revenue
$20,020,774
Total Expenses
$21,652,256
Total Assets
$394,959,006
Net Assets
$391,661,452
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1992
Legal Domicile
AK
Principal Officer
MICHAEL LINK
Phone
9078424370
Tax Period
2023-01-01 to 2023-12-31

BRISTOL BAY ECONOMIC DEVELOPMENT CORP, founded in 1992, is a mid-sized nonprofit that reported $20.0M in total revenue in fiscal year 2023. Revenue fell 57% from the prior year — a significant decline worth monitoring. Net assets of $391.7M represent 235 months of operating reserves.

Mission

TO PROMOTE ECONOMIC GROWTH AND OPPORTUNITIES FOR RESIDENTS OF ITS MEMBER COMMUNITIES; SEE SCH O. THROUGH SUSTAINABLE USE OF THE BERING SEA RESOURCES.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $9,988,722
Investment Income $10,006,134
Other Revenue $25,918
TOTAL REVENUE $20,020,774

Expense Breakdown

Grants Paid $11,370,579
Salaries & Benefits $2,627,963
Fundraising Expenses $0
Program Expenses $18,026,399
Other Expenses $7,653,714
TOTAL EXPENSES $21,652,256

Year-over-Year Comparison

2023 2022 Change
Revenue $20,020,774 $47,038,939 -0.6%
Expenses $21,652,256 $22,392,468 0.0%
Net Income $-1,631,482 $24,646,471 -1.1%
Key Indicators
✓ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Governance

Voting Members
20
Independent Members
11
Employees
35
Volunteers
N/A

Governance Policies

✓ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
⚠ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
7
$992,119
Total Directors
20
$515,133
Key Employees
0
$0
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MICHAEL LINK EXECUTIVE DIRECTOR 0.00
Officer Director
$268,672 $61,378 $330,050
JOHN CHRISTENSEN BOARD MEMBER 0.90
Director
$500 $0 $500
LOUIE ALAKAYAK SR BOARD MEMBER 1.44
Director
$4,000 $0 $4,000
HATTIE ALBECKER SECRETARY 6.12
Officer Director
$14,917 $0 $14,917
FRED T ANGASAN SR BOARD MEMBER 1.98
Director
$7,500 $0 $7,500
PETER ANGASAN SR BOARD MEMBER 1.98
Director
$5,500 $0 $5,500
JIMMY COOPCHIAK BOARD MEMBER 0.90
Director
$9,666 $0 $9,666
BETTY GARDINER BOARD MEMBER 1.62
Director
$6,500 $0 $6,500
ROBERT HEYANO TREASURER 4.14
Officer Director
$11,917 $0 $11,917
GUSTY ILUTSIK JR BOARD MEMBER 1.44
Director
$6,250 $0 $6,250
MARYANN JOHNSON BOARD MEMBER 3.42
Director
$12,500 $0 $12,500
RICHARD KING BOARD MEMBER 1.80
Director
$5,000 $0 $5,000
GERDA KOSBRUK CHAIR BEG NOV 2023 6.48
Director
$18,750 $0 $18,750
H ROBIN SAMUELSEN JR CHAIR THRU NOV 2023 13.50
Officer Director
$47,083 $0 $47,083
VICTOR SEYBERT BOARD MEMBER 5.94
Director
$13,750 $0 $13,750
FRITZ SHARP BOARD MEMBER 1.80
Director
$9,750 $0 $9,750
ALEXANDER TALLEKPALEK BOARD MEMBER 1.80
Director
$6,500 $0 $6,500
WILLIAM YOST BOARD MEMBER 0.36
Director
$1,000 $0 $1,000
ERIN PETERS BOARD MEMBER 1.44
Director
$4,000 $0 $4,000
TEODORO PAUK BOARD MEMBER 1.80
Director
$0 $0 $0
CLIFFORD TUBBS FINANCE OFFICER 40.00
Officer
$154,852 $24,050 $178,902
CHRISTOPHER NAPOLI CAO 40.00
Officer
$149,557 $30,512 $180,069
STACI FIESER CFO 40.00
Officer
$172,472 $56,709 $229,181
ALICE RUBY PROGRAM DIRECTOR 40.00
Highest
$124,464 $27,088 $151,552
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2023 $20,020,774 $21,652,256 $394,959,006 $-1,631,482
2022 $47,038,939 $22,392,468 $384,600,359 $24,646,471
2021 $73,071,666 $37,467,010 $398,869,133 $35,604,656
2020 $27,584,898 $20,790,542 $361,710,560 $6,794,356
2019 $32,445,568 $17,539,796 $306,219,768 $14,905,772
2018 $34,254,691 $18,415,277 $271,270,761 $15,839,414
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