Sealaska’s $4.2 Million CARES Act Allocation: Part of a Larger Pool of Funding to Benefit Southeast Alaska Natives
Tuesday, August 31, 2021

Many shareholders are asking about Sealaska’s CARES Act funding, and how the $4.2 million amount of its allocation was determined.

The U.S. Department of the Treasury created the formula for how CARES Act money was allocated to tribes and Alaska Native corporations (ANCs). The most important thing is that Alaska Natives in Southeast Alaska are receiving additional support at a crucial time.

Sealaska is working out the details of how the $4.2 million allocation will be distributed to benefit our shareholders. We know this has been a difficult 18 months and that many are still struggling. Additional information about our distribution plan is coming soon. Please keep an eye on your email, our social media channels and for more information.

Here are the most important factors associated with our allocation, with details on each below.

  1. The Treasury formula relied on a tribal population assessment developed in connection with housing-related services. In Southeast, tribes provide housing services, so Sealaska didn’t receive any funding in this category of the formula.
  2. Total employment was also a factor. ANCs that received more than Sealaska did most likely had a higher employee count.
  3. Sealaska complied with all application requirements and filled everything out in full and on time.

The formula favored tribes and ANCs that provide housing services

Because tribes are the primary administrators of Native American Housing and Self Determination Act (NAHASDA) services in Southeast Alaska, they received the bulk of the funding through Treasury’s CARES Act formula. The housing formula uses the population served by that tribal housing provider. We do not have a service population through NAHASDA because that population is served by Tlingit & Haida Regional Housing Authority. This connection to housing services was the largest factor in the formula, and Sealaska received no funding in this category, which significantly impacted our total.

Funding flowed to our region to benefit our people – it just flowed primarily through tribes rather than through Sealaska. Some have asked why CIRI and Doyon received so much more than Sealaska. The reason is that in their large population centers, they provide more of the housing-related services in their regions.

Our shareholders, most of whom are also tribal citizens, are eligible to receive CARES Act funding through their tribes and village corporations. Tlingit & Haida, Goldbelt, and others have their own programs underway now.

Sealaska’s employee count affected the allocation

The Treasury Department formula used employment as a factor in its formula. Sealaska has close to 1,000 employees. While that is a significant increase from a few years ago, Alaska Native Corporations with more than 1,000 employees received more CARES Act funding than Sealaska did, all else being equal.

Our application was complete and timely

Sealaska worked closely with the Treasury Department to submit its application, participated in informational webinars and maintained close communications with contacts from the department to ensure our application met all the requirements.

Latest News

Sealaska Announces Spring Distribution of $19.2 Million

Posted 4/12/2024
As part of Sealaska’s continued investment in our communities and region, a spring 2024 distribution totaling $19.2 million will be issued to shareholders on Thursday, April 18. Sealaska’s board of directors approved the distribution at a meeting held in Juneau on Friday, April 12. The upcoming distribution includes dividends totaling $4.5 million from Sealaska’s ocean-health business platform, $3.1 million from the Marjorie V. Young (MVY) Shareholder Permanent Fund and an additional $11.6 milli...

Sealaska Spring 2024 Distribution Date Announced

Posted 3/19/2024
The Sealaska Board of Directors will meet on Friday, April 12, 2024, to approve the amount for Sealaska’s 2024 spring distribution. The distribution will take place on Thursday, April 18.  Shareholders can prepare for a seamless distribution by completing any enrollment or stock transfer paperwork, including gifting or inheritance, by Friday, April 12 at 4 p.m. The last day to make changes to addresses or direct deposit information is Monday, April 15, , before close of business, or online via M...

Sealaska announces Desiree Jackson to serve as Vice President of Administration and Outreach

Posted 3/6/2024
Jackson’s goals, experience are aligned with Sealaska’s vision for shareholders, communities and the region’s collective future. A focus on strategy, values and excellence has led Desiree Anax x’aséigu yé Jackson to her new role as Sealaska’s Vice President of Administration and Outreach. Jackson has served as the executive director of...

First Quarter Board Q&A provides shareholders an opportunity to connect with their board

Posted 3/4/2024
Members of Sealaska’s board of directors had an opportunity to connect with shareholders and answer questions during the Feb. 29 board Q&A session hosted on MySealaska. Directors Barbara Cadiente Nelson, Ka’illjuus Lisa Lang joined Executive Chair Joe Nelson and Board Youth Advisor Deikeenaak’w  Connor Ulmer in providing an update following January’s board meeting and shared upcoming opportunities and associated deadlines with participants. Sealaska’s language grant application period i...

Virtual Shareholder Orientation offers connection, information for original and new shareholders alike

Posted 2/26/2024
Sealaska’s Shareholder Relations team hosted a virtual shareholder orientation on Tuesday, Feb. 20 for an audience of nearly 170 shareholders from far and wide. This event offered both new and long-term shareholders a chance to learn more about the benefits and responsibilities of being a shareholder and answer questions about specific Shareholder Relations policies, procedures and protocol.   Shareholder Relations Manager Jodie Gatti, who joined the Sealaska team in November, was joined by...