
by Ana Hoffman
This year, Bethel Elkartaa Settlement Trust (BEST) distributions will be made on December 12, 2024. On this date, shareholder beneficiaries of BEST will receive $4.67 per share. This results in an average payment of $467.00 for shareholder beneficiaries with 100 shares in Bethel Native Corporation (“BNC”).
The BNC Board of Directors determines an annual cash contribution to BEST, which funds this payment and represents 20% of BNC’s five-year average net income.
Additionally, BEST will issue the second annual Elders Benefit distribution in the amount of $350 per eligible elder. Combined with the $4.67 per share payment, eligible elders with 100 shares, will receive a total of $817.00 from BEST on distribution day. This value equates to 5% of BNC’s five-year average net income. Eligible elders are those BNC shareholders who are sixty-five years or older as of December 1, 2024 and living on distribution day.
With the majority of shareholders residing in and around Bethel, these annual distributions have a significant impact on the local economy. An aggregate amount of just over $1 million is set to be distributed by BEST this year. In total, this amount equals 25% of BNC’s five-year average net income.
Any elder desiring to opt out of the elder benefit program over concerns that the payment may impact their eligibility for state or federal assistance, may contact Ana Hoffman, BNC President/CEO, by calling 907-543-2124 or emailing [email protected]. Distributions from BEST are made annually in December and are tax free to shareholder beneficiaries.
The deadline to request direct deposit is Friday, November 8, 2024. Forms are available online at www.bethelnativecorp.org.
BNC businesses are active in construction, environmental consulting, apparel manufacturing, commercial real estate development and more. Bethel Native Corporation is proudly headquartered in Bethel, with subsidiary offices in Anchorage.
Elkartaa is a Yup’ik word meaning: to settle in place.
Ana Hoffman is the President and CEO of Bethel Native Corporation.