Goldbelt Distributes Federal CARES Act Tribal Relief Funds to Shareholders
The Final Application Round is Now Open to Shareholders through December 3
Shareholders can now apply for up to $800 per person. This application provides an opportunity to apply for reimbursement for purchases or losses that were not accounted for in the initial round. The first payout will be Friday, November 5, 2021, and then on a bi-weekly schedule. The application will close on December 3, 2021, in order to make sure all funds are distributed by the deadline mandated by the federal government of December 31, 2021. Shareholders can also apply by phone at (907) 790-4990, by mail, or in person.
In the first round, Goldbelt distributed Federal CARES Act funding to over 85% of all eligible Goldbelt shareholders, totaling more than $8 million directly to those who applied and needed it most. The application concluded on September 30, 2021.
“The board of directors gave clear direction to get the Federal CARES Act funding in the hands of shareholders as quickly and as simply as possible,” said McHugh Pierre, President and CEO of Goldbelt, Inc. “I’m proud of our team who did an exceptional job responding to the needs of our shareholders. It’s rewarding to know we made a difference in the lives of so many.”
Goldbelt is proud that it was the first ANCSA Corporation in Southeast Alaska to issue CARES Act Funding to its shareholders. On August 10, 2021, Goldbelt received $11.1 million in Federal CARES Act funding for COVID-19 relief. This notification followed the Supreme Court’s landmark decision recognizing the role of Alaska Native Corporations as tribal entities, for this specific purpose, on June 25, 2021.
In just 10 days from receipt of the notification, Goldbelt launched the online application for shareholders to apply for Federal CARES Act funding. In the first 24 hours of the application going live, Goldbelt received 1,082 applications – a quarter of all eligible shareholders! Shareholders who certified financial loss, necessary expenses incurred, and/or emergency economic need due to the COVID-19 pandemic were eligible to receive up to $2,600 in the initial round of Federal CARES Act Relief funding. Goldbelt hired additional staff to support outreach efforts for the program. The CARES Team called every shareholder who had a phone number on file, emailed shareholders individually, and mailed a paper application to every shareholder who did not apply in the first week.