Our land management business has, fortunately, not been significantly impacted by COVID-19 and harvesting and carbon credit sales have continued throughout the pandemic.

Our operating businesses are performing extremely well given the magnitude of this year’s unique challenges. Despite these curveballs, our business operations are performing in line with the positive trend illustrated above. Our businesses reported record profits in 2019, and we expect this year to end strong as well. Our passive income streams, however — ANCSA Section 7(i) and investment income — reflect the broader economic challenges resulting from this year’s events.

Investment Income: COVID-19 continues to create short-term volatility in the financial markets that will likely continue into next year. Sealaska’s financial investments are designed to benefit shareholders over the long-term. While we experienced losses at the outset of the virus, we have seen significant recovery in recent months. Our investments are positioned for solid long-term growth.

ANCSA Section 7(i): Sealaska’s share of 7(i) income from the other regional Alaska Native corporations is largely dependent upon commodity prices, and will not be known until all of the ANCs report their 2020 earnings and distribute dividends in 2021.

Investing in Shareholder Priorities: One of our most recent shareholder investments provides support for language revitalization efforts. Sealaska established a $10 million language endowment to support advanced learners. In 2020 to date, the fund has provided $300,000 in financial support for language revitalization efforts and is committed to increasing that level of financial support going forward.

To view the Q3 Sealaska Shareholder newsletter, click here.