Norton Sound Economic
Norton Sound Economic Development Corporation (NSEDC) is a public charity based in Anchorage, Alaska, established in 1993. The organization operates as a 501(c)(4) entity with 273 employees. NSEDC functions as both an economic development organization and an active participant in Alaska's fisheries sector, balancing regional economic development with commercial fishing operations in the Bering Sea and Aleutian Islands.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$400.6M
+2.4% YoY
Annual Giving
$6.3M
-6.4% YoY
Grant Count
46
-2.1% YoY
Avg Grant Size
$137K
-4.4% YoY
Mission & Focus Areas
NSEDC's mission is to develop and sustain new and ongoing economic activity in the Norton Sound region. The organization implements programs across several key areas:
- Education, Training & Employment: Provides scholarships to students enrolled full-time at accredited colleges, universities, or vocational schools, offering supplemental funds of $2,000 per semester or training session
- Infrastructure Development: Builds infrastructure to support new and existing fisheries
- Fisheries Support: Supports local salmon, herring, crab, and halibut fishermen; manages Community Development Quota (CDQ) allocations and Individual Fishing Quota (IFQ) holdings
- Community Benefit Programs: Provides loans and grants through multiple initiatives including the Large Infrastructure Program, Bulk Fuel and Energy Subsidy Program, Small Business Initiative, and Community Energy Fund
- Salmon Restoration: Works to restore salmon runs in the region for both commercial and subsistence users
- Financial Services: Provides loans for gear and vessels, and secures equity interests in companies and vessels
Grantmaking
NSEDC maintains an active grantmaking program with typical award ranges of $5,236 to $899,968. The organization currently administers at least two live grant opportunities:
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Geographic Focus
Where this funder awards grants
NSEDC's funding activities are concentrated in the Norton Sound region of Alaska and member communities within that area. The organization also maintains operations in Washington State, with registered business locations in both Anchorage and Seattle.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
As of 2023:
- Total Assets: $391,353,465
- Total Revenues: $16,364,233
- Total Expenses: $39,798,531
- Number of Employees: 273
As of 2024:
- Total Assets: $400,589,554
- Total Giving: $8,685,378
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $400,589,554 | $391,353,465 | $379,957,471 |
| Revenue | $27,468,923 | $16,364,233 | $27,485,239 |
| Expenses | $35,135,339 | $39,798,531 | $50,285,679 |
| Qualifying Distributions | — | — | — |
| Net Investment Income | $1,335,555 | $-6,016,665 | $-9,236,817 |
| Distributable Amount | — | — | — |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
Grant Size Distribution
223 grants across all recorded years
Open Grants
7 open opportunities from Norton Sound Economic
Community Benefit Share Fund
Norton Sound Economic
Amount
$250,000 per member community
Deadline
Rolling / Open
Energy Subsidy Program
Norton Sound Economic
Amount
$500 - $575 per household
Deadline
Rolling / Open
NSEDC Scholarship Program
Norton Sound Economic
Amount
$2,500 per semester (up to $7,500 per year for full-time students)
Deadline
Rolling / Open
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Leadership team and compensation from IRS filings
Key leadership includes:
- Janis Ivanoff - Principal Officer
- Jerry Ivanoff - Governor
- Orville Ahkinga - Governor
- Richard Walicki - Governor
- Simun Kinneen - Governor
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| Janis Ivanoff | President & CEO | 40 | $393,137 |
| Simon Kinneen | Vice President | 40 | $288,401 |
| Tyler Rhodes | COO | 40 | $268,638 |
| Matt Coates | Treas and CFO | 40 | $228,097 |
| Wes Jones | Quota Manager | 40 | $188,066 |
| PAul Ivanoff | Community Benefits | 40 | $168,799 |
| Justin Noffsker | NSSP Dir | 40 | $181,895 |
| Josh Osborne | NSSP Plant Manager | 40 | $173,477 |
| Kathy Wheelehan | Corp. Secretary | 40 | $181,434 |
| Leslie Ladegard | HR Director | 40 | $163,211 |
| Frank Katchatag | Chairman | 8 | $61,998 |
| Milton Cheemuk | Director | 8 | $60,727 |
| James Sherman | Director | 8 | $60,280 |
| Dean Peterson | Director | 8 | $55,797 |
| Harvey Sookiayak | Director | 8 | $54,924 |
| Daniel Harrelson | Director | 8 | $54,855 |
| Anna Oxereok | Director | 8 | $50,929 |
| Shirley Antoghame | Director | 8 | $50,117 |
| Frieda Southall | Director | 8 | $49,116 |
| Preston Rookok | Director | 8 | $49,098 |
| Morris Nashoanak | Director | 8 | $48,547 |
| Joseph Garnie | Director | 8 | $46,836 |
| Melvin Otton | Director | 8 | $44,356 |
| Arthur Amaktoolik | Director | 8 | $39,404 |
| Samantha Ozenna | Director | 8 | $18,335 |
| Frances Ozenna | Director | 8 | $11,415 |
| Ronald Daniels | Director | 8 | $6,304 |
Recent News & Activity
Recent developments and announcements
NSEDC has announced significant community benefit distributions, including $250,000 in community benefit share funding for each member community. The organization has awarded grants through its Small Business Initiative program to regional entrepreneurs and has distributed first quarter community benefits grants. Four small businesses previously shared $105,000 in NSEDC startup grants.
Four Small Businesses Share $105k in NSEDC Startup Grants - KNOM Radio MissionThe organization also provides grants to other regional organizations; for example, NSEDC awarded $5,367 in discretionary grants to Tundra Health Initiative Corporation in 2023 to support eye care and vision correction services for low-income patients in Norton Sound regional villages.
Four Small Businesses Share $105k in NSEDC Startup Grants - KNOM Radio MissionData last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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