Established: Approved at the 45th Annual Meeting of Shareholders (2019)

Active Since: 2020

The Goldbelt Tináa Distributions Trust provides federal tax-free distributions to shareholders and creates potential federal tax savings for Goldbelt, Inc. The Trust also allows Goldbelt to support scholarships, Elder programs, and other shareholder benefits.

Unlike the Ancestral Trust, the Tináa Distributions Trust cannot hold or invest assets. Goldbelt contributes funds directly to the Trust, and the Trust distributes that support to beneficiaries for a range of programs.

Purpose of the Tináa Distributions Trust

The primary purpose of the Tináa Distributions Trust is to support the health, education, and well-being of its Beneficiaries while preserving the heritage and culture of Native people. The Trust must operate exclusively for the benefit of its Beneficiaries and in accordance with relevant legal regulations.

The Trust fulfills its purpose by:

• Issuing tax-free distributions to Distribution Beneficiaries

• Providing support to Elder Beneficiaries

• Administering scholarships and educational support for Scholarship Beneficiaries

All activities and programs are defined within the Trust Agreement and administered under Board-approved policies.

Beneficiaries

Beneficiaries of the Tináa Distributions Trust are:

• Goldbelt shareholders who hold voting shares
  (Shareholders who are Alaska Native by birth or legal adoption, or descendants of Alaska Natives.)

Approximately 96.5% of Goldbelt shareholders are voting shareholders.
If you are unsure of your voting status, contact Shareholder Services at 907-790-4990.

Trustees

The Trust is overseen by Trustees who are selected and removed solely by the Goldbelt Board of Directors.

• The number of Trustees matches the number of Goldbelt Board directors.

• Trustees are responsible for administering the Trust and its programs in compliance with the Trust Agreement.

Programs of the Tináa Distributions Trust

1. Distribution Program

This program may provide financial distributions with a non-taxable benefit based on the number of shares a beneficiary owns at the time a distribution is issued.

Key points:

• The Trust cannot invest or hold assets; distributions are funded by Goldbelt contributions

• Distributions through this Trust are free of federal income tax for shareholders

• Payments generally occur in the third week of November, unless otherwise specified by the Board

2. Elders Program

This program supports Elder Beneficiaries through distributions that do not have to be based on the number of shares an Elder holds.

• Criteria for Elder distributions are defined by Trust policy

• Policies are reviewed and approved by the Trustees

• Elder payments may be issued on a timeline determined by the Trustees

3. Scholarship Program

The Board of Trustees may establish and administer a scholarship program that:

• Collects contributions

• Provides scholarships, grants, and education-related support to Scholarship Beneficiaries

• Issues payments directly to beneficiaries or to educational institutions

Scholarship awards do not have to be tied to the number of shares held.

Program history:

• Scholarships began being added to the Trust structure in 2022

• In March 2023, higher education and non-degree scholarships were transferred from Goldbelt Heritage to the Tináa Distributions Trust

Benefits Activity

• The Trust began issuing distributions in 2020

• Elder and scholarship programs have expanded steadily since their establishment

• The Trust continues to grow its benefit offerings in alignment with its mission to support shareholder well-being, education, cultural heritage, and financial stability
  
  

Why the Tináa Distributions Trust Exists

The Tináa Distributions Trust was created to deliver immediate shareholder benefits while leveraging tax efficiencies.
It allows Goldbelt to:

• Pay federal taxes on behalf of shareholders for distributions

• Receive potential federal tax deductions for contributions to the Trust

• Support Alaska Native shareholders in alignment with ANCSA’s intent

• Offer tax-free distributions and expanded benefit programs

Tax Background and Advantages

The Trust’s structure aligns with provisions in the 2017 Tax Cuts and Jobs Act, which authorize Alaska Native Corporations to create 646 trusts such as the Tináa Distributions Trust. This structure allows:

• Tax-deductible contributions for Goldbelt

• Federal income tax-free distributions for shareholders

Shareholders may still be subject to state income taxes; however, since most reside in Alaska or Washington, they generally benefit from fully tax-free distributions.

Additional Resources

More information is available in the Corporate Files section on MyGoldbelt.com.