Taking Care of Business: Regional Corporations Score Achievements

In June 2025, ASRC shareholders made history once again by voting to replenish Class C and D shares to ensure that future eligible descendants can continue to enroll in ASRC, which was the first ANC to open enrollment to descendants not living when ANCSA was enacted.

“Through consistent and steady leadership, ASRC continues to fulfill the vision set forth by our early leaders,” says Rock.

Bristol Bay Native Corporation also saw its strongest operating performance in history, with earnings of $202 million; its revenue for the last fiscal year (FY) was $3.2 billion with a net income of $84 million. Shareholder distributions were nearly $31 million.

BBNC shareholders recently voted to open enrollment to descendants, becoming the seventh regional corporation to pass this initiative.

Record breaking financial performance gave Aleut regional corporation its two biggest back-to-back years. FY 2024 delivered the highest revenue and earnings in company history, with revenue reaching $380 million and earnings at $37 million. FY 2025 continued this momentum with another record revenue year at $390 million and earnings of $33 million.

Profits for Meaningful Benefits

Shareholders in the Kodiak region have seen consistently rising dividends from Koniag. In January 2026, shareholders will receive $33 per share, marking another milestone in the corporation’s commitment to long-term financial growth and sustainability.

“We did this while still contributing to our Shareholder Settlement Trust, making sure that we are investing in the Koniag our future generations will inherit,” says Koniag Chairman and CEO Ron Unger.

Koniag is strategically positioned at the forefront of two critical technology markets: cybersecurity and AI. On the AI front, Koniag Government Services (KGS) has been accelerating AI adoption across military branches as well as federal civilian agencies. “Our AI, machine learning, and intelligent automation solutions deliver measurable impact—one current solution alone saves the Army more than $37 million annually,” explains Unger. “Building on this success, we recently launched Koniag AI Solutions, a dedicated KGS subsidiary focused on helping federal customers automate manual processes, enhance data quality and analysis for better decision-making, modernize legacy systems, and scale data-intensive governance and compliance efforts.”

Koniag Cyber also launched this year to deliver security solutions for highly regulated industries and to protect critical infrastructure. “Our proven track record implementing enterprise cybersecurity programs and architectures for the federal government and domestic energy providers gives us a strong foundation in this essential market,” says Unger.

In October, Koniag Cyber co-hosted a workshop in Anchorage with the FBI, bringing together about thirty key stakeholders in Alaska’s critical infrastructure sector. The session demonstrated how Koniag Cyber can provide immediate assistance and long-term resilience.

Chugach Alaska Corporation has seen meaningful growth across federal contracting, commercial, and investment platforms over the past two years. This progress has enabled consistent shareholder distributions and strategic reinvestments in education, workforce development, cultural preservation, and wellness.

“Profitability is the first word in our mission statement—not because profits are all that matter but because we understand that our profitability is critical to enabling us to provide meaningful benefits to our shareholders and lasting impact in the communities we serve,” says Chugach CEO Jonathan Dalrymple. “Our approach balances purpose-driven outcomes with strategic growth, including acquisitions, partnerships, and new ventures that position Chugach for long-term success and sustained impact.”

Continued Focus on Growth

Shareholder distributions from Cook Inlet Region, Inc., (CIRI) increased significantly in 2025, marking the largest annual increase in more than ten years.

Acquisitions are growing CIRI’s portfolio. In December of 2024, CIRI closed on the purchase of OSC Edge, a leading provider of IT engineering, integration and testing, and data management services. Stemming from the acquisition—and to deliver world-class IT and cybersecurity solutions that drive performance across industries and without borders—CIRI established OSC Global, a wholly owned CIRI subsidiary.

Through its trio of companies—OSC Edge, OSC EdgeTech, and OSC Technical Solutions—OSC Global is an IT, cybersecurity, and professional services leader uniting mission-driven expertise and cutting-edge technology to protect organizations worldwide.

ASRC continues to emphasize growth and diversification through acquisition, including newly acquired nuclear safety and security contractor Sigma Science, based in Albuquerque, New Mexico, and through strategic partnerships with companies such as Montgomery, Alabama-based general contractor Caddell Construction.

In 2025, BBNC focused on diversifying its current operations. “We’ve started to grow our presence in the financial services area,” shares Vice President of Communications Carmell Engebretson. “In January, we acquired majority ownership of Alaska Growth Capital and launched Alaska Investment Management this spring.”

Chugach Alaska has strategically expanded its portfolio through targeted acquisitions and partnerships, strengthening its Alaska presence. In October 2024, Chugach Commercial Holdings acquired HVAC, LLC and Alaska Integrated Services, two respected Fairbanks-based mechanical contracting firms.

Long-Lasting Investments

In addition to enlarging their family of wholly owned acquisitions, ANCs have been busy pumping investment dollars into equity holdings. Chugach Alaska, through its Chugach Investment Holdings subsidiary, invested in CYBER Express Wash in Anchorage and in Port of Tomorrow in Seward. Chugach Regional Development, in partnership with The Tatitlek Corporation and Chenega Corporation, launched Chugach Naswik Suites, a multi-purpose short-term housing facility in downtown Valdez.

“These acquisitions and investments represent just the beginning of where we’re headed,” says Dalrymple. “Chugach is in a chapter of deliberate growth, which means we’re expanding our portfolio, strengthening our capabilities, and pursuing new opportunities that align with our values and long-term vision. Each move we make is part of a broader strategy to build enduring prosperity for our shareholders, our employees, and the communities we serve.”

Sound equity investments boosted Aleut’s financial performance. In 2024, Aleut Real Estate purchased Huffman Commons, a commercial property in South Anchorage. Aleut’s momentum continued into 2025 with the acquisition of the Richards Distributing, Inc. group of businesses, which enabled the launch of Aleut Energy and expanded its portfolio into retail, renewable energy, and at-home wellness services. Additionally, Aleut established Tayal Brokerage to strengthen real estate and brokerage capabilities, further diversifying business lines.

ASRC continues to make meaningful investments in Alaska infrastructure, including new product storage tanks at the Petro Star refinery in North Pole and an extensive expansion of ASRC Energy’s North Slope-based equipment fleet to support the growing needs of production partners.

Koniag Energy and Water did some critical projects for the Federal Aviation Administration, supplying and installing specialized cameras to enhance the safety of small airport landing sites, and for the State of Alaska, modernizing the safety of rail and auto passengers traversing the Anton Anderson Memorial Tunnel to Whittier.

“In Alaska, our energy and water sector has been involved in some exciting projects that are taking our mission of improving the quality of life for our people to the whole state,” shares Unger. “One is a project with Quintillion where we’ll be providing shore-based splicing stations as part of their work to lay fiber optic cables from Nome to Homer. Making sure our folks have access to the benefits of the internet in our region has been a priority for us, and we are proud to be a part of supporting that for the state.”

Community and Shareholder Benefits

Returning wealth to communities goes beyond dividend payments. For instance, Koniag made a significant donation to the Koniag Education Foundation, bringing the average scholarship amount to $10,000. Koniag Education Foundation offers scholarships for students pursuing an undergraduate degree, those at the highest levels of doctoral education, and those furthering their education in vocational or Alutiiq-language programs.

Through the Richard Frost Youth Scholarship, Koniag shareholders and descendants from age 3 through high school are eligible for up to $1,000 per year for a variety of athletic, scholastic, cultural, and leadership programs. Last year, this scholarship supported nearly 300 young people.

Among the cultural values of the Alutiiq people is caring for elders. Each winter, Koniag provides care packages for shareholders and descendants aged 62 and older. This past winter, nearly 800 elders received packages with canned salmon. Additionally, Koniag has expanded its Elder Benefit dividends in the past few years. Last year, original shareholders aged 62 and older received a total of $2,200 in spring and fall Elder Benefits.

This year’s community service project also aided Koniag elders. “This summer, we partnered with Kodiak Area Native Association to support dozens of elders in the Koniag region,” says Unger. “The project included assisting those in Kodiak with household chores and delivering banya baskets to elders who live in surrounding villages. The annual service project is an initiative to strengthen the connection between employees and the people we serve.”

Koniag is also partnering with Kodiak Island Housing Authority, RurAL CAP, and other organizations to address the region’s housing crisis with the Mutual Self-Help Housing Program. Through the program, working families in Kodiak can build “sweat equity” by helping each other build their own homes, replacing a traditional down payment. “We are excited to see how this program grows to support essential workers in Kodiak and help the whole community,” says Unger.

Care, Love, and Kindness

CIRI’s community is growing to nearly 10,000 shareholders. “To support the tribes within our region, CIRI launched a tribal grant program last year,” says Lori Nelson, senior director of corporate communications. “The purpose of the program is to provide low-barrier financial support while empowering Tribes to use the funding how they see fit.”

In 2025, CIRI also supported the Seldovia Village Tribe’s Culture Camp, the Knik Tribe’s food box program, and the Salamatof Tribe’s efforts to build a strong sense of belonging and cultural pride in their community.

“We launched a new Stellar Space Experience program for high-school age shareholders and descendants—a unique three-day program that prepares participants for potential future careers in science, technology, engineering, and math. The Ada Honor Program was launched earlier this year—a new program grounded in the spirit of ‘ada,’ a Dena’ina word meaning care, love, and kindness, which supports families in times of loss.”

In 2025, CIRI concluded the inaugural cohort of the Yah Program. Designed to identify potential leaders, encourage creativity and innovation, and empower those looking to play a key role in CIRI’s business operations and future success, the Yah Program prepares CIRI shareholders and descendants for executive leadership roles.

Aleut renamed its education foundation, formerly The Aleut Foundation, as the Ulakaia Center, and brought it under corporate ownership as a dedicated shareholder support department. The center is named after the tallest hill on St. George Island and, according to its website, “represents a place of gathering, resilience, and perspective.” Through the Ulakaia Center, Aleut distributed $1.4 million in FY25 directly to shareholders and their families for community support programs.

Beyond Ulakaia Center initiatives, Aleut invested heavily in shareholder benefits, including scholarships, dividends, distributions, and community grants—totaling $7.2 million in FY24 and $7.9 million in FY25.

Community projects benefiting ASRC shareholders and North Slope communities in the past year included Iñupiaq Days, free tax preparation services, and the Midnight Sun Basketball Camps. Iñupiaq Days introduced youth to career opportunities within ASRC while celebrating Iñupiaq culture and values. The ASRC-sponsored Alaska Business Development Center sends a team of tax preparers to assist with more than 8,000 tax returns while offering year-round financial assistance to ASRC shareholders. And Midnight Sun Basketball Camps, sponsored by ASRC, helped youth develop teamwork, leadership, and life skills both on and off the court.

Culture, Opportunity, and Belonging

BBNC continues to support its Bristol Bay Foundation, which has expanded its focus on language and cultural heritage. The corporation also hosts a youth and young adult culture camp to learn about subsistence harvesting, language, and cultural activities in the summer.

“A big focus of BBNC is keeping our shareholders connected to our region and culture regardless of where they live,” explains Engebretson. “We’ve increased our social media presence and are focusing on new ideas that can connect people from afar.”

In 2024, BBNC launched a mobile DMV program for residents in remote areas. “Last year we were able to help over 200 shareholders obtain a driver’s license or REAL ID, which was especially helpful with REAL ID-compliant identification now being required for travel,” says Engebretson. “Without the program, shareholders would have to travel outside of the region or to one of the main hubs to get these services.”

BBNC also partnered with the US Fish and Wildlife Service and the National Fish and Wildlife Foundation to map millions of acres of wetlands in Bristol Bay. This program is designed to help fill data gaps while providing on-the-job training for shareholders to learn about geographic information systems.

Chugach has advanced several community-based initiatives that honor its heritage. An upcoming project is the Chugach Museum, which the corporation plans to build at the corner of 36th Avenue and Old Seward Highway in Anchorage. It is meant to serve as a cultural cornerstone and a space to preserve, celebrate, and share the rich history of the Chugach region.

Chugach’s affiliated nonprofit, Chugach Tribal Services, is leading the development of Village in the City, a hub designed to offer cultural, educational, and community programs for Chugach shareholders, descendants, and Alaska Native individuals residing in Anchorage.

“Our success is measured not just in financial outcomes but also by the opportunities we create for our people,” says Chugach Alaska President Katherine Carlton. “Through the visionary Chugach Museum and Village in the City development projects, we are building community strength and creating spaces where culture, opportunity, and belonging come together. This is how we ensure our prosperity endures for generations to come.”