Makivik Corporation
- Assets
- $576.5m
- Revenue
- $9.5m
- Investments
- $224.7m
- Employees
- 225
- Location
- Founding
- 06/1991
- Data as of
- 09/2021
- EIN
- 98-0105409
Organization Overview
Makivik Corporation is located in null. The organization was established in 1991. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 09/2021, Makivik Corporation employed 225 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Makivik 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 09/2021, Makivik Corporation generated $9.5m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (11.9%) each year. All expenses for the organization totaled $4.3m during the year ending 09/2021. As we would expect to see with falling revenues, expenses have declined by (15.1%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO RELIEVE POVERTY AND PROMOTE EDUCATION OF THE INUIT, PROTECTING THEIR WAY OF LIFE, VALUES AND TRADITIONS. CREATING OPPORTUNITIES AND INCENTIVIZING THEIR ECONOMY AND DEVELOPMENT
Describe the Organization's Program Activity:
Part 3 - Line 4a
SOCIAL HOUSING PROGRAM THE CONSTRUCTION DIVISION OF MAKIVIK CORPORATION RECEIVES FUNDING FROM BOTH THE GOVERNMENTS OF CANADA AND QUEBEC FOR THE CONSTRUCTION OF SOCIAL HOUSING FOR RESIDENTS OF NUNAVIK (THAT AREA OF THE PROVINCE OF QUEBEC NORTH OF THE 55TH PARALLEL). DURING THE COURSE OF THE FISCAL YEAR, THE CORPORATION, THROUGH ITS NOT-FOR-PROFIT CONSTRUCTION DIVISION, BUILT SOCIAL HOUSING UNITS IN FIVE COMMUNITIES OF NUNAVIK. THE SOCIAL HOUSING PROGRAM MANAGED BY THE CORPORATION AIMS TO BUILD QUALITY LOW COST HOUSING WHILE AT THE SAME TIME PROVIDING TRAINING AND EMPLOYMENT TO APPRENTICE CARPENTERS RESIDING IN NUNAVIK AND TO THE GREATER EXTENT POSSIBLE PROVIDING ECONOMIC SPINOFFS TO THE REGIONAL BUSINESSES AND ORGANIZATIONS.
ECONOMIC AND COMMUNITY DEVELOPMENT DURING THE COURSE OF THE FISCAL YEAR THE CORPORATION SUPPORTED A NUMBER OF COMMUNITY, SOCIAL, CULTURAL AND ECONOMIC DEVELOPMENT PROGRAMS INCLUDING ORGANIZATIONS SUCH AS THE AVATAQ CULTURAL INSTITUTE, THE NUNAVIK HUNTERS FISHERS AND TRAPPERS ASSOCIATION, THE NUNAVIK LANDHOLDING CORPORATIONS, THE QARJUIT YOUTH COUNCIL AND TAQRAMIUT NIPINGAT INC. THE CORPORATION ALSO FUNDED OTHER PROGRAMS SPECIFICALLY INTENDED FOR THE NUNAVIK INUIT.
UNGALUK SAFER COMMUNITIES PROGRAM DURING THE COURSE OF THE FISCAL YEAR THE CORPORATION TOOK PART IN THE ADMINISTRATION OF THE UNGALUK SAFER COMMUNITIES PROGRAM WHICH FUNDS CRIME PREVENTION PROGRAMS ACROSS NUNAVIK IN URBAN AREAS OF QUEBEC. THE PROGRAM AIMS TO HAVE AN IMPACT ON PREVENTING AND COMBATING CRIME, PROMOTING SAFE AND HEALTHY COMMUNITIES, PROVIDING ASSISTANCE TO VICTIMS OF CRIME AND VIOLENCE AND IMPROVING CORRECTIONAL SERVICES FOR INUIT. IN ALL, THE PROGRAM SUPPORTED A VARIETY OF REGIONAL AND COMMUNITY PROJECTS WHICH TOOK PLACE IN NUNAVIK THROUGHOUT THE YEAR.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Adams Peter Director | OfficerTrustee | 35 | $139,207 |
Alaku Adamie-Delisle Director | OfficerTrustee | 35 | $117,121 |
Berthe George Director | OfficerTrustee | 35 | $109,165 |
Emudluk Maggie Director | OfficerTrustee | 35 | $91,359 |
Novalinga Rita Director | OfficerTrustee | 35 | $91,277 |
Mickpegak Raymond Director | Trustee | 35 | $34,631 |
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 | $0 |
| Investment income | $2,003,665 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $7,511,759 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,515,424 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $1,039,356 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $992,597 |
| Compensation of current officers, directors, key employees. | $316,518 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,522,585 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $582,103 |
| Fees for services: Legal | $94,375 |
| Fees for services: Accounting | $47,890 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $479,443 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $251,108 |
| Travel | $357,548 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $128,494 |
| Insurance | $109,718 |
| All other expenses | $92,432 |
| Total functional expenses | $4,319,754 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $63,322,756 |
| Savings and temporary cash investments | $57,973,833 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $33,743,382 |
| Loans from Officers, Directors, or Controlling Persons | $10,732 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $502,543 |
| Net Land, buildings, and equipment | $5,985,185 |
| Investments—publicly traded securities | $190,203,091 |
| Investments—other securities | $224,663,204 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $77,543 |
| Total assets | $576,482,269 |
| Accounts payable and accrued expenses | $42,223,350 |
| Grants payable | $0 |
| Deferred revenue | $70,600,150 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $9,129,856 |
| Total liabilities | $121,953,356 |
| Net assets without donor restrictions | $454,528,913 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $576,482,269 |
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|---|---|---|
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Cuso International | $17,986,190 | $25,338,532 |
West Africa Rice Development Association | $23,999,248 | $19,439,683 |
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Cooperativa De Ahorro Y Credito De Vega Alta | $355,977,126 | $21,743,565 |
Ivey Business School Foundation | $20,172,840 | $19,210,645 |
Tula Foundation | $43,438,708 | $5,288,962 |
Allgemeine Anthroposophische | $21,895,649 | $16,689,603 |
Master & Fellows Of Peterhouse | $470,069,266 | $14,639,374 |
Bermuda Institute Of Ocean Sciences Bios Inc | $48,144,596 | $11,893,948 |