2025 Annual Meeting Unanswered Questions
Thank You for Your Questions — Annual Meeting FAQ Update
Thank you to all shareholders who submitted questions during our 2025 Annual Meeting. If your question wasn’t answered live, please know we are reviewing all submissions and will post additional responses and updated FAQs soon. We appreciate your patience as we work to ensure each answer is accurate and thorough.
Below are some of the most common questions submitted during this year’s meeting, grouped by theme, along with a few broader FAQs we regularly receive. For more, visit mygoldbelt.com/FAQs/GeneralInformation or email us at shareholder@goldbelt.com.
Shareholder Questions Regarding: Youth, Education, and Scholarships
Q: Why do YES Scholarships start at 3 years old? Can the age limit be lowered?
Alicia Bafaro
The YES Scholarship program begins at age 3 to align with preschool and other structured early learning programs. While we recognize some families start enrichment activities earlier, the current starting age reflects funding standards and educational benchmarks. We will continue to review age eligibility based on shareholder feedback.
Q: Will you consider accepting year-round scholarship applications?
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Yes. Only the Higher Education Scholarship has application deadlines aligned with tuition cycles. Other programs—including YES (Youth Extracurricular Scholarships), Non-Degree Enrichment, and Level-Up Vocational Scholarships—are available year-round allowing multiple awards up to a set dollar amount. Annual maximums are:
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YES: $500
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Non-Degree Enrichment: $500
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Level-Up Vocational: $2,000
Q: Since T&H cannot provide school supplies outside Southeast Alaska, will Goldbelt be able to help our youth?
Salici Purser
Goldbelt is an Alaska Native Corporation (ANC), a for-profit entity that does not qualify for the same tribal grant funding as tribal organizations like Tlingit & Haida. However, we continue to support youth through scholarships and enrichment. We are reviewing ways to support shareholders across all regions in response to recent program changes. Learn more here.
Q: Can the enrichment scholarship process be improved so receipts aren’t required upfront?
Davina Cole
We understand that upfront costs can be a barrier. While receipts are required for accountability, Goldbelt can pay vendors directly with proof of enrollment. To do so, apply through AwardSpring, submit proof of enrollment, and include an invoice with payment details. Goldbelt will pay the vendor directly when possible. Questions? Contact shareholder services at shareholder@goldbelt.com or 907-790-4990.
Q: What is the status of a youth or college board intern program?
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This suggestion has been raised in past meetings and would require board approval. We have forwarded this request to the board for consideration.
Additional Resources
We appreciate your feedback—it helps us improve programs for future generations.
Shareholder Questions Regarding: Childcare Access
Q: With a Goldbelt childcare center being discussed, will shareholders have access, or will it only be for employees?
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The childcare facility is still in the planning stages, but our mission includes supporting shareholders.
Shareholder Questions Regarding: Elders and the Elders’ Trust
Q: What happens if an Elder passes away? Do their family members receive Elders’ shares?
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The Elders’ Trust is a benefit—not a separate class of stock. All Alaska Native shareholders with voting stock become eligible upon turning 60. If a shareholder passes away and their shares are inherited by a descendant, the new shareholder may become eligible for benefits if they meet the same criteria.
Learn more: MyGoldbelt – Elders’ Trust
Q: Can Goldbelt assist Elders who need to travel for cultural purposes?
Genevieve Guanzon
Enrichment Scholarships are available to Elders for educational and cultural activities. While Goldbelt does not currently have a dedicated program for travel support, we encourage eligible Elders to explore scholarship options. We are also reviewing how to expand support based on feedback like yours.
Q: On page 17 of the 2025 proxy, I noticed a dissenting vote on Board Resolution 25-04 regarding the Elders’ Trust. How can shareholders engage with board members or learn their perspectives?
Mark Brown
Goldbelt welcomes shareholder engagement and Board Members are directly accessible to shareholders. If you have a question for a sitting director, or a candidate for the board, please ask them directly. Directors can be contacted via email at FirstName.LastName@goldbelt.com or your message can be relayed through the main corporate phone number: 907-790-4990.
For more insight into board decisions, we encourage shareholders to review the full proxy statement.
Shareholder Questions Regarding: Veterans and Military Recognition
Q: What is Goldbelt doing to support veterans, especially those who may feel left out?
Pastor Credo
Goldbelt is proud to support veterans and military families. In 2024, sixteen Goldbelt subsidiaries received the HIRE Vets Medallion Award for excellence in hiring and retaining veterans. We provide veteran-specific resources, leadership development, tuition assistance, and competitive compensation.
We understand that some veterans may feel overlooked. While we do not currently offer land specifically for veterans, we continue to explore ways to expand benefits and welcome further input.
Q: Will there be land for Goldbelt veterans?
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At this time, Goldbelt does not have a designated land program for veterans. Any future opportunities would need to align with ANCSA guidelines and be approved through appropriate channels. We are open to ongoing dialogue with veteran shareholders to identify potential solutions.
Learn more about Alaska Native land allotment resources at:
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Tlingit & Haida has a specialist that can help Alaska Native Vietnam-Era Veterans apply for the Land Allotment Program. Applications close December 29, 2025.
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Apply at www.tinyurl.com/AKVeteranLand
Shareholder Questions Regarding: Corporate Transparency, Governance, and Ethics
Q: Are Board meeting minutes available to shareholders? If yes, how can they access them?
Jane Johnson
Yes, shareholders may request to inspect or obtain copies of certain corporate records, including Board meeting minutes, provided their request meets the requirements outlined in Alaska law and our corporate policies.
To request access, shareholders must:
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Submit a written request that clearly specifies the records being sought.
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State the purpose of the request, which must be reasonably related to their interests as a shareholder.
Please note that shareholder records may not be used for commercial solicitation or other unrelated personal purposes.
All written requests are reviewed by our Legal Department. Shareholders can submit their request or request assistance by contacting Legal Department at compliance@goldbelt.com.
Q: Why does the Board no longer show how individual members voted in the meeting minutes? Will this change?
Edith McHenry
There has been no change. The minutes only reflect if a motion passes or fails, which is a common practice in corporate governance to balance transparency with candid deliberations. The Board continuously reviews its policies and welcomes feedback on ways to strengthen transparency.
Q: Does Goldbelt have a Code of Ethics for Board members and employees? Are there effective reprimands?
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No, there is no code of conduct for the Board of Directors.
Q: Transparency is needed again.
Clifford See & Patricia Tackett
Thank you for your comment. Goldbelt remains committed to transparent governance and welcomes continued input from shareholders on ways we can improve.
Q: How are Board Directors selected, and what are their responsibilities?
Board Directors are elected by shareholders at the Annual Meeting of Shareholders. They are responsible for the strategic direction of Goldbelt and managing the President & CEO.
Q: What opportunities exist for shareholder engagement with the Board?
Goldbelt hosts annual in-person Shareholder Opportunity Meetings to provide updates and create space for open dialogue between shareholders and Board members. These events will continue in 2026.
Shareholder Questions Regarding: Economic Development and Business Diversification
Q: I support diversifying outside of 8(a) if it brings back jobs and opportunities for shareholders. I’d accept fewer dividends if it helps growth. Congrats on West Douglas.
Skyler Mazon
Thank you for your support. Goldbelt does not have to choose between federal contracting and Alaska operations. Strong government contracting performance allows us to reinvest in initiatives like the West Douglas port and other growth opportunities closer to home. We’re committed to building long-term value while creating local jobs.
Q: Did we buy KINY radio station? If so, “Our People” should be hired!
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No, Goldbelt did not purchase KINY.
Q: Did you say we have employees in Japan? If so, why? Is Goldbelt back in business with COEUR?
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Yes, Goldbelt has employees in Japan through our global federal contracting work.
Goldbelt continues a longstanding partnership with COEUR providing security and transportation services.
We’re also proud members of the Berners Bay Consortium, a Native partnership supporting mine transportation operations and economic collaboration.
Shareholder Questions Regarding: Distributions and Financial Management
Q: If a $10,000 distribution were made, where would the money come from after cash on hand is depleted?
Steve McClure (Answered live)
Goldbelt makes distribution with cash from operations. If cash on hand were exhausted, Goldbelt would have to sell assets to meet obligations. The Board of Directors passed a Distribution Policy in 2023 which considers net profits, inflation, financial trends, and long-term sustainability.
Q: We are worth $1 billion and Sealaska is broke. Why was a $5,000 shareholder distribution voted down?
Pastor Credo
Goldbelt is not worth $1 billion. Goldbelt has equity value, or net worth, of $118 million. That has risen from $53 million in 2019. Distributions are made by the Board through its distribution policy.
Q: Congratulations on your financial success. Remember—Elders and children are the future. Provide more jobs and support for basic needs like food, rent, electricity. Young adults are leaving rural towns, Elders are left with rising costs.
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Thank you for your heartfelt reminder. Goldbelt’s mission is to make a positive impact in the lives of our owners. We live our values through job creation, educational support, and sustainable investment.
Our Vision: Be a forever company that is a leader in business and community, and creates generational wealth for our owners
Our Mission: Make a positive impact in the lives of our owners
Our Values:
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Guide ourselves by the Tlingit beliefs of Integrity, Respect, and Service
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Exercise an Entrepreneurial Spirit
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Emulate the “The Gold Standard: Excellence in everything we do”
These principles guide every decision—from distributions to employment and beyond.
Shareholder Questions Regarding: Tourism, Tram, and Environmental Concerns
Q: I understand the direction of tourism, but can Goldbelt help Natives with affordable housing?
Gwendolyn Clay
We hear and share your concern. While Goldbelt does not currently offer a housing program, we continue to explore ways to collaborate with organizations addressing housing, especially for Alaska Natives. Strategic reinvestment in community initiatives is part of our long-term planning.
Q: Last week I took three guests up on the tram with my Elders’ pass. The tram car made a noise at the top. Later, my grandson’s friend said he wouldn’t ride it, hearing it wasn’t well maintained. Can you speak to the maintenance so I can assure him?
Maxine Richert
Goldbelt Tram is maintained to the highest industry standards. Maintenance occurs on a strict schedule; daily, weekly, and annually, based on manufacturer and industry guidelines. POMA, a global leader in tram and gondola systems, inspects the cables and track ropes annually and has consistently given Goldbelt Tram high marks for safety and reliability.
Q: Native Graveyard. Environmental concerns over cruise ships and fish count. A method for cleaning up mine tailings—be the solution, not part of the toxic waste problem.
Carrie Cruise
Thank you for raising these concerns. Goldbelt is committed to environmental responsibility and cultural preservation. Your suggestions will be considered in our ongoing planning and advocacy efforts.
Shareholder Questions Regarding: Government Affairs, Infrastructure, and Legal Matters
Q: Did Goldbelt win the lawsuit with the medical company regarding COVID-19 vaccine needle contracts?
Justin Knott
The case of iRemedy Healthcare, Inc. vs. Goldbelt Security, LLC and Goldbelt, Incorporated has been settled and dismissed. The amount of the settlement was $499,000, less than 2% of the $30 million in damages sought by iRemedy. Goldbelt admitted no wrongdoing, and no wrongdoing should be implied from the settlement. Half of iRemedy’s case was dismissed by the Court on December 6th, 2024, but obtaining a complete dismissal would have required extensive discovery and substantial defense costs (potentially as much as the settlement amount if the case went to trial). Goldbelt management’s decision to settle the case was based on avoiding those costs and bringing finality to the matter. The settlement will have no impact on planned shareholder benefits in 2025 or future years.
Q: Has President Trump’s closure of programs impacted any federal contracts held by Goldbelt?
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Yes. Program closures led to rescission of about $7 million in contracts across Goldbelt’s family of companies. Despite this, Goldbelt’s federal contracting divisions continue to grow and are currently outpacing last year’s revenue. Our agility as an ANC allows us to support mission-critical services, especially in defense and infrastructure, where flexibility and speed are essential.
Q: Is the State’s interest in the ferry terminals tied to mining claims? What’s the real cost?
Shkainge – Kaagwaantaan
We are not aware of any direct interests tying ferry terminal interests and mining claims.
Shareholder Questions Regarding: Culture, Identity, and Policy Suggestions
Q: Go ancient Tlingit style—serve only those with BIA/T&H federal recognition. Build a Long House for all federally recognized tribes.
Michelle Howard
Thank you for your suggestion. Building a Long House to honor our Tlingit culture and tribal recognition is a meaningful idea that Goldbelt leadership will take into consideration as part of future cultural initiatives.
Q: Lateral violence is trauma. Policy should prohibit it and correct misconduct, including dismissals. What happened was shameful for all of us.
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We appreciate this reminder. Goldbelt is committed to a workplace culture grounded in respect, accountability, and healing. Our policies prohibit harassment, including lateral violence, and we remain open to improving our internal processes and training to reflect these values.
Additional FAQs
Understanding Goldbelt and Sealaska Distributions
Q: What is the difference between Goldbelt Incorporated and Sealaska regarding shareholder distributions?
Goldbelt is an Urban Alaska Native Corporation (ANC) formed under the Alaska Native Claims Settlement Act (ANCSA), distinct from Regional Corporations like Sealaska and Village Corporations.
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Regional Corporations (e.g., Sealaska) receive 7(i) and 7(j) funds—federal revenue-sharing payments redistributed under ANCSA.
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Village Corporations represent individual Native communities and also receive 7(j) payments through their regional corporations.
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Urban Corporations like Goldbelt do not receive 7(i)/7(j) funds from Sealaska or any other entity.
Q: Does Goldbelt receive 7(i) or 7(j) funds from Sealaska for business operations or distributions?
No. Sealaska’s 7(i) revenue-sharing is paid directly to urban corporation shareholders who are registered with Sealaska. Goldbelt does not receive these funds for business or shareholder distributions.
Q: When does Goldbelt distribute earnings to shareholders?
Goldbelt typically issues a fall distribution based on estimated business-year results. This allows for responsible financial planning and long-term sustainability.
Q: Why doesn’t Goldbelt offer a spring distribution?
Spring distributions are typically associated with 7(j) payments—funds that go directly to shareholders from Sealaska. Goldbelt does not administer those payments.
However, the Goldbelt Ancestral Trust did offer a spring distribution this past year, which was separate from any Sealaska distribution.
Understanding the Difference Between Goldbelt and Tribal Governments
Q: How is Goldbelt different from a tribe like the Central Council of the Tlingit and Haida Indian Tribes of Alaska (CCTHITA)?
Goldbelt Incorporated and CCTHITA are separate organizations with different structures, responsibilities, and funding sources—but both serve Alaska Native people.
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Goldbelt Incorporated |
Tribal Governments (e.g., CCTHITA) |
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Type |
Urban Alaska Native Corporation (For-Profit) |
Federally Recognized Tribal Government |
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Founded |
1974 (via ANCSA) |
Pre-ANCSA |
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Purpose |
Create economic value and opportunity for shareholders |
Provide government and social services for tribal citizens |
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Funding |
Business operations and investments |
Federal grants and government contracts |
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Membership |
Shareholders—based on ANCSA enrollment, inheritance, or gifting |
Enrolled tribal citizens |
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Services Provided |
Dividends, internships, scholarships, shareholder development |
Housing, healthcare, education, child welfare, cultural preservation |
Q: Why doesn’t Goldbelt provide the same types of assistance as tribes?
Goldbelt is a business entity, not a tribal government. We do not receive federal tribal program funds (such as housing or TANF) and do not operate as a public service agency.
Instead, Goldbelt focuses on generating economic value through corporate growth and returning benefits—such as scholarships, internships, and dividends—based on business performance.
For details on Goldbelt’s shareholder programs, visit the Shareholder Benefits page.
For tribal assistance, visit the Central Council of the Tlingit and Haida Indian Tribes of Alaska at: www.ccthita-nsn.gov
Need help navigating which organization to contact?
We’re happy to assist—email us anytime at shareholder@goldbelt.com.
Thank you again for your thoughtful questions. We are committed to transparency, shareholder engagement, and continuous improvement. Please don’t hesitate to reach out with additional questions or suggestions.