Asset Management
Income and Assets
The Foundation derives its revenues by three means: charitable gaming, property management, and financial asset management. It has an adopted Investment Policy and Asset Management Policy Statement. Pursuant to the Foundation By-Laws this Statement is reviewed, amended if necessary and formerly approved by resolution annually by the Board.
Charitable gaming – The Foundation conducts the Kuskokwim Ice Classic. This event is established in state statute and grants to the Foundation the exclusive right to conduct the event. Ticket purchasers speculate on the date and time that the ice breaks up on the Kuskokwim River each spring. The Foundation also conducts weekly bingo.
Property Management – The Foundation owns several office buildings and commercial properties, an assisted living home, two well water treatment plants, a large subsistence fish camp on the Kuskokwim River, and undeveloped real estate located in Bethel.
Financial Management - The Foundation has a highly diversified investment portfolio managed under contract with a professional investment firm.
Private Endowments – Consistent with the Foundations Mission Statement the Foundation is currently developing through its legal counsel, contractual agreements that will accommodate private endowments. This will provide private endowments both the pooled benefit of investment management and effective management of proceeds to their intended beneficiaries.
