Bristol Bay Economic Development Corporation

Organization Overview

Bristol Bay Economic Development Corporation is located in Dillingham, AK. The organization was established in 1993. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2019, Bristol Bay Economic Development Corporation employed 38 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bristol Bay Economic Development Corporation is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.

For the year ending 12/2019, Bristol Bay Economic Development Corporation generated $32.4m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 1.1% each year. All expenses for the organization totaled $17.5m during the year ending 12/2019. You can explore the organizations financials more deeply in the financial statements section below.

Since 2017, Bristol Bay Economic Development Corporation has awarded 133 individual grants totaling $31,582,925. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2019

Describe the Organization's Mission:

Part 3 - Line 1

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

Describe the Organization's Program Activity:

Part 3 - Line 4a

COMMUNITY AND BUSINESS DEVELOPMENT - THE COMMUNITY BLOCK GRANT (CBG) PROGRAM PROVIDES BBEDC'S CDQ COMMUNITIES WITH THE OPPORTUNITY TO FUND PROJECTS THAT PROMOTE SUSTAINABLE COMMUNITY AND REGIONAL ECONOMIC DEVELOPMENT. THE FUNDING PER COMMUNITY WAS $500,000 FOR 2019 (SAME AS 2018). $7,928,114 WAS REQUESTED AND AWARDED TO CDQ COMMUNITIES. THE INFRASTRUCTURE GRANT FUND (IGF) PROGRAM PROVIDES BBEDC COMMUNITIES WITH A SOURCE OF FUNDS FOR BROAD PUBLIC INFRASTRUCTURE AS WELL AS BUSINESS INFRASTRUCTURE DEVELOPMENT. TRIBAL AND/OR CITY GOVERNMENTS ARE ELIGIBLE TO APPLY FOR UP TO $2,000,000. NO COMMUNITIES WERE AWARDED THE GRANT IN 2019 (SAME AS 2018). THE ARCTIC TERN PROGRAM PROVIDES FUNDING FOR COMMUNITIES TO SUPPORT EMPLOYMENT AND EDUCATIONAL ACTIVITIES FOR RESIDENT YOUTH UNDER THE AGE OF 17. IN 2019, $52,945 WAS AWARDED (DOWN FROM $58,275 IN 2018). THE INTEREST RATE ASSISTANCE PROGRAM PROVIDED $45,163 IN INTEREST RATE ASSISTANCE TO 21 RESIDENTS (UP FROM 21 RESIDENTS AND $40,604 IN 2018). GRANT WRITING ASSISTANCE OF $14,712 AND TECHNICAL ASSISTANCE OF $518 WAS PROVIDED TO COMMUNITIES IN 2019.


REGIONAL FISHERIES DEVELOPMENT - RECOGNIZING THAT THE QUICKEST WAY TO INCREASE THE VALUE OF BRISTOL BAY SALMON WAS THROUGH CHILLING, BBEDC EMBARKED ON AN AMBITIOUS PROGRAM TO PROVIDE ICE TO THE REGION'S FISHERMEN. IN 2019, BBEDC'S VESSEL UPGRADE PROGRAM ASSISTED 39 FISHERMEN WITH VESSEL UPGRADES FOR A TOTAL OF $685,741 AND 4 FISHERMEN WITH AN IN-SEASON EMERGENCY PROVISION GRANT OF $45,544 (DOWN FROM 69 FISHERMEN AND $1,063,359 IN 2018). BBEDC CONTINUED WITH ITS QUALITY IMPROVEMENTS PROGRAM BY PURCHASING 30 TOTES FOR 11 FISHERMEN (DOWN FROM 38 TOTES FOR 15 FISHERMEN IN 2018), 58 SLUSH BAGS FOR 10 FISHERMEN (UP FROM 38 SLUSH BAGS FOR 13 FISHERMEN IN 2018), PROVIDING FLEX FOAM INSULATION TO 14 FISHERMEN (UP FROM 9 FISHERMEN IN 2018), AND PURCHASING PADDED DECK MATS FOR 22 FISHERMEN (UP FROM 9 FISHERMEN IN 2018). RSW FLEET SUPPORT OFFERED GRANTS UP TO $1,000 FOR FISHERMEN THAT HAD RSW SYSTEMS ON BOARD THEIR VESSELS. 25 FISHERMEN WERE AWARDED A TOTAL OF $19,538 (UP FROM 17 AND $11,962 IN 2018). 8 FISHERMEN WERE AWARDED WITH RSW SYSTEMS TOTALING $176,000 (DOWN FROM 10 FISHERMEN AND $219,512 IN 2018). PRE-SEASON ADVANCE LOANS WERE AWARDED TO 40 INDIVIDUALS IN 2019 (DOWN FROM 43 IN 2018). IN ADDITION, TWO ICE BARGES DELIVERED 2,155,120 POUNDS OF ICE (UP FROM 1,619,030 POUNDS IN 2018) AND $247,404 WAS AWARDED TO FUND FISHERIES HABITAT PROTECTION (UP FROM $149,120 IN 2018).


EDUCATION, EMPLOYMENT, AND TRAINING - THIS PROGRAM OFFERS OPPORTUNITIES TO BBEDC'S CDQ RESIDENTS BY HELPING THEM DEVELOP THEIR SKILLS AND IMPROVE THE ECONOMIC CONDITIONS OF THE REGION. BBEDC'S EDUCATION PROGRAMS CONTINUED PROVIDING RESIDENTS WITH SKILLED LEARNING OPPORTUNITIES. THE COLLEGE DEVELOPMENT FUND PROVIDED BENEFITS TO 70 RESIDENTS WITH FUNDS OF $104,927 (DOWN FROM $113,813 AND 85 RESIDENTS IN 2018). IN 2019, BBEDC'S VOCATIONAL/TECHNICAL PROGRAM ASSISTED 79 RESIDENTS WITH FUNDS OF $204,168 (DOWN FROM 97 RESIDENTS AND $227,952 IN 2018). BBEDC'S COMMUNITY AND GROUP TRAININGS PROVIDED $318,716 WORTH OF ASSISTANCE (DOWN FROM OVER $334,169 IN 2018). BBEDC CONTINUED ITS FINANCIAL SUPPORT TO THE UAF-BRISTOL BAY CAMPUS FOR ITS ADULT BASIC EDUCATION/GED COURSE SPONSORSHIP IN THE AMOUNT OF $40,000 (SAME IN 2018) AS WELL AS PROVIDED A $10,000 CONTRIBUTION TO THEIR NURSING PROGRAM. THE STUDENT LOAN FORGIVENESS PROGRAM PROVIDED 8 RESIDENTS WITH FUNDS TOTALING $20,287 (DOWN FROM $20,614 FOR 7 RESIDENTS IN 2018). BBEDC'S INTERNSHIP PROGRAMS CONTINUED WITH 4 RESIDENTS BENEFITING FROM THE IN-REGION INTERSHIPS (DOWN FROM 7 IN 2018), AND 18 YOUTH BENEFITING FROM YOUTH INTERNSHIPS (DOWN FROM 20 IN 2018). BBEDC'S EMPLOYMENT OPPORTUNTIES CONTINUED PROVIDING SEASONAL EMPLOYMENT TO 44 RESIDENTS (UP FROM 38 IN 2018) AND PROVIDED 7 RESIDENTS WITH PRE-EMPLOYMENT SCREENINGS FOR AT-SEA EMPLOYMENT (UP FROM 5 RESIDENTS AND $2,472 IN 2018). IN 2019, BBEDC ALSO PROVIDED FUNDING IN THE AMOUNT OF $150,000 (UP FROM $57,337 IN 2018) FOR A FISHERIES INITIATIVE PROGRAM WITH A LOCAL SCHOOL DISTRICT.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Alaska Abatement Corporation
Prof Services
$131,229
Nerka Transport Llc
Towing Services
$194,623
Kpmg Llp
Prof Services
$214,560
Zachary Scott Company
Prof Services
$239,287
Adams And Reese Llp
Prof Services
$102,147
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Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$0
Total Program Service Revenue$28,162,242
Investment income $3,050,489
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $1,026,846
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $32,445,568

Grants Awarded

Over the last fiscal year, Bristol Bay Economic Development Corporation has awarded $10,752,842 in support to 47 organizations.

Grant RecipientAmount

BRISTOL BAY SCIENCE & RESEARCH INSTITUTE

Org PageRecipient Profile

Dillingham, AK

PURPOSE: SCIENTIFIC AND EDUCATIONAL PROJECTS

$750,000

TWIN HILLS VILLAGE COUNCIL

PURPOSE: ECONOMIC DEVELOPMENT, PROMOTION OF PROGRAMS, COMMUNITY/GROUP TRAININGS, SEASONAL EMPLOYMENT OPPORTUNITIES, OPPORTUNITIES FOR YOUTH, AND YOUTH EMPLOYMENT

$585,594

CURYUNG TRIBAL COUNCIL

PURPOSE: ECONOMIC DEVELOPMENT, PROMOTION OF PROGRAMS, COMMUNITY/GROUP TRAININGS, SEASONAL EMPLOYMENT OPPORTUNITIES, OPPORTUNITIES FOR YOUTH, YOUTH EMPLOYMENT AND FISHERIES HABITAT PROTECTION

$583,322

NATIVE VILLAGE OF PORT HEIDEN

PURPOSE: ECONOMIC DEVELOPMENT, PROMOTION OF PROGRAMS, COMMMUNITY/GROUP TRAININGS, OPPORTUNITIES FOR YOUTH, SEASONAL EMPLOYMENT OPPORTUNITIES, YOUTH EMPLOYMENT, AND TECHNICAL ASSISTANCE

$580,728

EKWOK VILLAGE COUNCIL

PURPOSE: ECONOMIC DEVELOPMENT, PROMOTION OF PROGRAMS, SEASONAL EMPLOYMENT OPPORTUNITIES, YOUTH EMPLOYMENT, AND TECHNICAL ASSISTANCE

$567,812

NAKNEK VILLAGE COUNCIL

PURPOSE: ECONOMIC DEVELOPMENT, PROMOTION OF PROGRAMS, INTERNSHIPS, OPPORTUNITIES FOR YOUTH, AND TECHNICAL ASSISTANCE

$567,044
View Grant Profile

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