With excitement building toward Goldbelt’s 51st Annual Meeting of Shareholders, President & CEO McHugh Pierre hosted a second virtual livestream event on MyGoldbelt to answer questions on the proposed Elders’ Trust and other Goldbelt initiatives. Gunalchéesh for the more than 80 shareholders who joined us online! McHugh started the meeting with an overview of Goldbelt’s mission, vision, and values:

Mission: Make a positive impact in the lives of our owners.

Vision: Be a forever company that is a leader in business and community and creates generational wealth for our owners.

Values: Guide ourselves by the Tlingit beliefs of integrity, respect, and service;    exercise an entrepreneurial Spirit; and emulate the Gold Standard: excellence in everything we do. 

McHugh began with an overview of the Elders’ Trust, which is designed to benefit Goldbelt’s shareholders with voting stock upon reaching the age of 60. Like the Tináa Distributions Trust, distributions made through the Elders’ Trust would be exempt from federal tax. But unlike Tináa Trust, the Elders’ Trust would be allowed to invest its assets, with the goal of generating revenue to fund shareholder benefits in perpetuity. 

He reassured shareholders that if the proposed Elders’ Trust is approved, it would not reduce the value of future distributions to shareholders who also benefit from the Tináa Trust. Goldbelt’s annual contribution to the Tináa Trust, drawn from operating income, is determined by the Board’s Distribution Policy and would not be affected by potential contributions to the Elders’ Trust. 

McHugh also emphasized the broader goal: supporting our owners in a way that makes Juneau a more livable community where they can thrive. He spoke about the importance of building a future where Southeast Alaska’s original peoples can see a viable path forward—with meaningful job opportunities, strong schools, and affordable housing. 

Other topics covered during the livestream included: 

Eaglecrest Gondola Profit-Sharing Agreement 
Goldbelt does not own the gondola. Instead, the corporation loaned the City and Borough of Juneau $10 million to finance the project. If the gondola is not constructed within the agreed-upon timeframe, the City must repay Goldbelt’s investment in full. If the project proceeds as planned, however, Goldbelt stands to earn up to four times its investment under the terms of the profit-sharing repayment agreement. 

Cascade Point Ferry Project 
Goldbelt is pursuing a partnership with the Alaska Department of Transportation and the Alaska Marine Highway System to support the Cascade Point Ferry Project. The goal is to provide reliable daily ferry access connecting Juneau to the intercontinental road system. 

West Douglas Port 
Described by McHugh as “the realization of a 50-year dream that dates to Goldbelt’s ANCSA land selection,” the West Douglas Port project is currently in its early stages. Viability studies are underway to assess potential infrastructure sites. The long-term vision includes developing a sustainable industry that creates jobs while reducing development pressure for Downtown Juneau. 

These initiatives—and others will be discussed in greater detail at the 2025 Annual Meeting of Shareholders, taking place Saturday, July 12, at 11 a.m. at Centennial Hall in Juneau, or online at MyGoldbelt. Learn more details about this year’s annual meeting here. 

Congratulations to the five $100 door prize winners from the second CEO livestream on the proposed Elders’ Trust!  

Door Prize Winners: 

• Ernest Williams 

• Colleen Mercer 

• Tiffany Larue 

• Randall Johnson 

• Paul Joseph 

Payments will be processed on Friday, June 27. Thank you again for participating!  

Additional Opportunity:  

Anchorage Area Shareholders! President & CEO McHugh Pierre will be at the Anchorage Marriott next week! 
 

CEO Lunch & Learn on the Proposed Elders’ Trust 

Date: Thursday, June 26  

Time: 12 – 1 p.m. (priority seating for Elders)  

Location: Marriott Anchorage Downtown, 820 W 7th Ave, Anchorage, AK 

Lunch: Provided 

RSVP is required: Reserve your spot (link in bio): https://ow.ly/BS7B50WaWo9 

Watch the livestream recording here (Link in bio): https://mygoldbelt.com/.../livestream-meeting-recording