Norton Sound Economic

ANCHORAGE, AK EIN: 86-0710582 Website

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

-2.1% YoY

Avg Grant Size

$137K

-4.4% YoY

Research compiled by Grantable AI from public sources. Last updated April 2026.

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

Alaska $37.9M (100%)

Washington $17K (0%)

States

Alaska Washington

Cities

AnchorageBainbridge IslBrevig MissionDiomedeElimFairbanksGambellGolovinJuneauKoyukLittle DiomedeNomeSavoongaShaktoolikSt MichaelStebbinsTellerUnalakleetWalesWhite Mountain

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

Revenue

Expenses

Qualifying Distributions

Net Investment Income

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

Show all 7 →

Foundation

Community Benefit Share Fund

Norton Sound Economic

Amount

$250,000 per member community

Deadline

Rolling / Open

Annual

Foundation

Energy Subsidy Program

Norton Sound Economic

Amount

$500 - $575 per household

Deadline

Rolling / Open

Annual

Foundation

NSEDC Scholarship Program

Norton Sound Economic

Amount

$2,500 per semester (up to $7,500 per year for full-time students)

Deadline

Rolling / Open

Annual

Giving History

Grant recipients and amounts by year

Among its reported 2024 grants, the largest include Native Village of Savoonga ($669,585), City of Teller ($513,066), City of Stebbins ($454,500).

Recipient	Purpose	Amount
Bering Sea VFW Post 9569 Nome, AK	Discretionary Grants	$10,000
Bering Sea Womens Group Nome, AK	Discretionary Grants	$20,000
Bering Strait School District Unalakleet, AK	Discretionary Grants	$307,751
Boy & Girls Clubs of SC AK Anchorage, AK	Discretionary Grants	$12,080
City of Brevig Mission Brevig Mission, AK	Comm Ben Share/Discretionary Grants	$155,000
City of Diomede Little Diomede, AK	Comm Ben Share/Discretionary Grants	$150,000
City of Elim Elim, AK	Comm Ben Share/Discretionary Grants	$353,718
City of Gambell Gambell, AK	Comm Ben Share/Discretionary Grants	$231,699
City of Golovin Golovin, AK	Comm Ben Share/Discretionary Grants	$356,480
City of Koyuk Koyuk, AK	Comm Ben Share/Discretionary Grants	$164,762

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 Mission

2023

The 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 Mission

Frequently Asked Questions

What does Norton Sound Economic fund?

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…

How do I apply for a grant from Norton Sound Economic?

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: • **Large Infrastructure Fund** • **Water and Sewer Fund Grant** Recent grantmaking activity includes discretionary grants and community benefit share funding distributed to member communities. The organization has awarded grants through its Small Business Initiative program to regional entrepreneurs.