The Kuskokwim Corporation was formed on April 25, 1977, when the following Alaska Native Claim Settlement Act (ANCSA) village companies located along the middle part of the Kuskokwim River merged:
- Aniak, Limited
- Chuathbaluk Company
- Georgetown, Inc.
- Kipchaughpuk, Limited
- Lower Kalskag, Inc.
- Napaimute, Limited
- Red Devil, Inc.
- Sleetmute, Limited
- Stony River, Inc.
- Upper Kalskag, Inc.
Prior to the merge, the companies operated independently, each with a separate board of directors and staff. However, the total cost of operating 10 small companies was monumental. As a solution to the expenses, the idea of forming The Kuskokwim Corporation was presented. By merging the 10 small companies into one large corporation with one board and staff, operating costs and expenses would be reduced and a combined income would result in larger earnings for shareholders. Additionally, a larger company could attract qualified staff to run the corporation more efficiently.
While resources among the individual companies were limited, pooling together resources amounted to significant capital and land assets. With the combined resources, The Kuskokwim Corporation would be able to purchase investments that would otherwise not have been possible.
With the significant benefits of the potential merge, the plans moved forward and The Kuskokwim Corporation is now one company. As such, the corporation operates in the best interests of all shareholders with a commitment to honoring traditions, enriching lives and supporting shareholders through opportunities, dividends and employment.
Shareholder History
In 1994, shareholders amended the articles of incorporation to allow for the issuance of stock to 1,100 TKC original shareholders. Original shareholders that were born on or before December 18, 1971 were included in enrollment. Later, TKC shareholders voted to include their children and began enrolling eligible children born after December 18, 1971.
While Class A can be passed down to descendants by written wills or gifted, Class B stock is life estate stock. When the Class B stock owner dies, the stock is returned to the corporation. Since the issuance of Class B stock, shareholder numbers have continued to grow, tripling in size.
In 2005, shareholders amended the articles of incorporation to authorize enrollment of those who had missed the enrollment date with TKC when ANCSA was enacted in 1971. This Missed Enrollee Proposal #1 authorizes the issuance of A-2 common stock to the new enrollees.
In 2008, TKC had reached its limit and ceased its issuing of Class B stock. Then, in 2010 the articles of incorporation were amended to once again allow the issuance of additional Class B stock.
