EIN 92-0142567

Bristol Bay Economic Development Corporation (BBEDC)

IRS 501(c) type
501(c)(4)
Num. employees
35
City
Dillingham
State
Year formed
1992
Most recent tax filings
2020-12-01
NTEE code, primary
Description
BBEDC provides funding to each community to hire local community liaisons who acts as "eyes and ears" for the BBEDC. The liaisons provide the central office with the means to communicate with local residents and to provide services at the local level.
Total revenues
$27,584,898
2020
Total expenses
$20,790,542
2020
Total assets
$361,710,560
2020
Num. employees
35
2020

Program areas at BBEDC

Community and business Development - schedule ocovid-19 pandemic impacted our program operations in 2020. The community block grant (cbg) program provides bbedc's cdq communities with the opportunity to fund projects that promote sustainable community and regional Development. The funding per community was $500,000 for 2020 (same as 2019). $8,430,000 was requested and awarded. In addition, a crab investment opportunity arose for the communities and the board approved allowing communities to request 2021 cbg funding in 2020. $1,921,000 was requested and awarded. In 2020, a bsai commercial fisheries interests fund was also created to assist communities with a crab investment opportunity. $1,999,430 was requested and awarded. 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 2020 (same as 2019). The arctic tern program provides funding for communities to support employment and educational activities for resident youth under the age of 17. In 2020, $23,490 was awarded (down from $52,945 in 2019). The interest rate assistance program provided $39,794 in interest rate assistance to 18 residents (down from 21 residents and $45,163 in 2019). Grant writing assistance of $16,574 and technical assistance of $8,985 was provided to communities in 2020.
Investment management- $1,316,366
Regional fisheries Development - see schedule ocovid-19 pandemic impacted our program operations in 2020. 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 2020, bbedc's vessel upgrade program assisted 16 fishermen with vessel upgrades for a total of $176,413 and 4 fishermen with in-season emergency provision grants of $39,005 (down from 43 fishermen and $731,285 in 2019). Bbedc continued with its quality improvements program by purchasing 20 totes for 7 fishermen (down from 30 totes for 11 fishermen in 2019), 23 slush bags for 5 fishermen (down from 58 slush bags for 10 fishermen in 2019), providing flex foam insulation to 3 fishermen (down from 14 in 2019), and purchasing padded deck mats for 7 fishermen (down from 22 in 2019). Rsw fleet support offered grants up to $1,000 for fishermen that had rsw systems on board their vessels. 17 fishermen were awarded a total of $11,579 (down from 25 fishermen and $19,538 in 2019). 4 fishermen were awarded with rsw systems totaling $88,000 (down from 8 fishermen and $176,000 in 2019). Pre-season advance loans were awarded to 27 fishermen in 2020 (down from 40 fishermen in 2019). In addition, two ice barges delivered 864,104 pounds of ice (down from 2,155,120 pounds of ice in 2019) and $255,000 was awarded to fund fisheries habitat protection (up form $247,404 in 2019).
Education, employment, and training - covid-19 pandemic impacted our program operations in 2020. 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 68 residents with funds for $102,464 (down from $104,927 and 70 residents in 2019). In 2020, bbedc's vocational/technical program assisted 27 residents with funds of $71,826 (down from 79 residents and $204,168 in 2019). Bbedc's community and group trainings provided $44,738 worth of assistance (down from $318,716 in 2019). 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 as well as provided a $10,000 contribution to their nursing program (same as 2019). The student loan forgiveness program provided 6 residents with funds totaling $13,333 (down from $20,287 for 8 residents in 2019). Bbedc's internship programs continued with 3 residents benefiting from the in-region internships $36,678 (down from 4 residents and $32,763 in 2019), and 7 youth benefiting from youth internships $24,001 (down from 18 and $83,825 in 2019). Bbedc's employment opportunities continued providing seasonal employment to 19 residents $152,611 (down from 44 and $318,013 in 2019) and provided 4 residents with pre-employment screenings for at-sea employment (down from 7 residents in 2019). In 2020, bbedc also provided funding in the amount of $150,000 for a fisheries initiative program with a local school district (same in 2019).community liaisons - $847,283contributions - $763,333permit brokerage - $495,532permit and vessel loan program - $383,113quota management - $280,510fishing operations - $86

Grants made by BBEDC

GranteeGrant descriptionAmount
Christ Lutheran Church of Fairbanks AlaskaEconomic Development, Bsai Commercial Fisheries Interests, and Promotion of Programs$1,020,134
Bristol Bay Science and Research InstituteScientific and Educational Projects$750,000
University of Alaska FoundationGed/adult Basic Education, and Nursing Program$50,000
...and 5 more grants made

Personnel at BBEDC

NameTitleCompensation
Norman van VactorPresident and Chief Executive Officer$259,515
Helen SmeatonChief Operating Officer$125,393
Staci FieserChief Financial Officer$125,084
Cao Chris NapoliChief Administrative Officer
Alice RubyExecutive Director and Brokerage Director
...and 8 more key personnel

Financials for BBEDC

RevenuesFYE 12/2020
Total grants, contributions, etc.$0
Program services$24,092,975
Investment income and dividends$2,161,056
Tax-exempt bond proceeds$0
Royalty revenue$0
Net rental income$0
Net gain from sale of non-inventory assets$1,254,408
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous revenues$76,459
Total revenues$27,584,898

Form 990s for BBEDC

Fiscal year endingDate received by IRSFormPDF link
2019-122021-06-25990View PDF
2018-122020-02-03990View PDF
2017-122019-02-21990View PDF
2016-122017-11-20990OView PDF
2015-122016-12-15990OView PDF
...and 8 more Form 990s
Data update history
May 25, 2022
Posted financials
Added Form 990 for fiscal year 2019
May 25, 2022
Used new vendors
Identified 1 new vendor, including
March 18, 2022
Updated personnel
Identified 5 new personnel
October 2, 2021
Used new vendors
Identified 1 new vendor, including
April 30, 2021
Posted financials
Added Form 990 for fiscal year 2018
Nonprofit Types
Public sector nonprofitsBusiness and community development organizationsHeadquarter / parent organizations
Issues
Community improvementEconomic development
Characteristics
State / local level
General information
Address
PO Box 1464
Dillingham, AK 99576
County
Dillingham Census Area, AK
Website URL
bbedc.com/ 
Phone
(907) 842-4370
Facebook page
bristol-bay-economic-development-corporation 
IRS details
EIN
92-0142567
Fiscal year end
December
Taxreturn type
Form 990
Year formed
1992
Eligible to receive tax-deductible contributions (Pub 78)
No
Categorization
NTEE code, primary
S30: Economic Development
NAICS code, primary
926110: Economic Development Corporations and Economic Program Organizations
Parent/child status
Central organization
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