EIN 92-0142567

Bristol Bay Economic Development Corporation (BBEDC)

IRS 501(c) type
501(c)(4)
Num. employees
34
City
Dillingham
State
Year formed
1992
Most recent tax filings
2021-12-01
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
$73,071,666
2021
Total expenses
$37,467,010
2021
Total assets
$398,869,133
2021
Num. employees
34
2021

Program areas at BBEDC

Fishing operationsfor approximately 9 months in 2021, bbedc managed the operations of four crab fishing vessels we own that fished out in the bering sea until we were able to find a suitable contractor to take over the management.
Regional fishing Development - see schedule ocovid-19 pandemic impacted our program operations in 2021. 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 2021, bbedc's vessel upgrade program assisted 20 fishermen with vessel upgrades for a total of $330,634 and 2 fishermen with in-season emergency provision grants of $30,419 (up from 20 fishermen and $215,418 in 2020). Bbedc continued with its quality improvements program by purchasing 22 totes for 9 fishermen (up from 20 totes for 7 fishermen in 2020), 17 slush bags for 4 fishermen (down from 23 slush bags for 5 fishermen in 2020), providing flex foam insulation to 2 fishermen (down from 3 in 2020), and purchasing padded deck mats for 3 fishermen (down from 7 in 2020) for a total of $22,764 (up from $21,331 in 2020). Rsw fleet support offered grants up to $1,000 for fishermen that had rsw systems on board their vessels. 27 fishermen were awarded a total of $19,409 (up from 17 fishermen and $11,579 in 2020). 1 fisherman was awarded with a rsw system totaling $20,070 down from 4 fishermen and $88,000 in 2020). Pre-season advance loans were awarded to 10 fishermen in 2020 (down from 27 fishermen in 2020). In addition, two ice barges delivered 924,653 pounds of ice (up from 864,104 pounds of ice in 2020), $29,011 was awarded for tenderingsupport, and $295,000 was awarded to fund fisheries habitat protection (up form $255,000 in 2020)
Community and business Development - see schedule ocovid-19 pandemic impacted our program operations in 2021. 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 2021 (same as 2020). $6,106,150 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 2021 (same as 2020). The arctic tern program provides funding for communities to support employment and educational activities for resident youth under the age of 17. In 2020, $27,000 was awarded (up from $23,490 in 2020). The interest rate assistance program provided $29,217 in interest rate assistance to 11 residents (down from 18 residents and $39,794 in 2020). Grant writing assistance of $26,892 and technical assistance of $16,340 was provided to communities in 2021.
Investment management - $7,043,868education, employment, and training - $1,087,802community liaisons - $827,261contributions - $769,333permit brokerage - $461,827permit and vessel loan program - $420,673quota management - $254,797

Grants made by BBEDC

GranteeGrant descriptionAmount
Bristol Bay Science and Research InstituteScientific & Educational Projects$750,000
Christ Lutheran Church of Fairbanks AlaskaEconomic Development & Promotion of Programs$197,000
University of Alaska FoundationGed/adult Ed & Nursing Program$63,001
...and 7 more grants made

Personnel at BBEDC

NameTitleCompensation
Michael LinkPresident and Chief Executive Officer
Helen SmeatonChief Operating Officer$155,673
Staci FieserChief Financial Officer$145,380
Chris NapoliChief Administrative Officer$104,986
Keggie TubbsFinance Officer
...and 15 more key personnel

Financials for BBEDC

RevenuesFYE 12/2021
Total grants, contributions, etc.$0
Program services$64,769,052
Investment income and dividends$2,414,536
Tax-exempt bond proceeds$0
Royalty revenue$0
Net rental income$0
Net gain from sale of non-inventory assets$5,821,108
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous revenues$66,970
Total revenues$73,071,666

Form 990s for BBEDC

Fiscal year endingDate received by IRSFormPDF link
2021-122024-03-22990View PDF
2020-122023-06-13990View PDF
2019-122021-06-25990View PDF
2018-122020-02-03990View PDF
2017-122019-02-21990View PDF
...and 10 more Form 990s
Data update history
May 18, 2024
Used new vendors
Identified 5 new vendors, including , , , , and
May 16, 2024
Updated personnel
Identified 8 new personnel
August 29, 2023
Updated personnel
Identified 3 new personnel
August 2, 2023
Posted financials
Added Form 990 for fiscal year 2020
July 25, 2023
Updated personnel
Identified 1 new personnel
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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