Nome, Alaska | November 23, 2022

Sitnasuak Native Corporation (SNC) announces their plan to convey 12,212 acres of land into the SNC Settlement Trust (SNC Trust or Trust).  The SNC Trust is an Alaska Native Claims Settlement Act (ANCSA) settlement trust which was established by a vote of the shareholders in 2018 at their 44th Annual Meeting.

The sole purpose of the Trust is to promote health, education, and welfare of SNC shareholders and descendants and serves as a way for the corporation to preserve the heritage and culture of its people.  All SNC shareholders are beneficiaries of the Trust, and its funding comes from its earnings and contributions from SNC and are tax-free to its beneficiaries. 

One of the many unique benefits of the SNC Trust is the ability to convey land into it, allowing for SNC to capitalize on short and long-term tax savings and better protect and enhance the corporation’s land resources, the corporations most valuable asset.

The land to be conveyed from SNC into the Trust is located near the Flambeau and Safety area in Nome, Alaska.  It is a protected waterfowl location and conservation was identified as the highest value of use for that property.  These characteristics made the SNC Trust the ideal placement for this land.  Placed in the Trust, the land maintains all the same protections provided under ANCSA and cannot be sold to any third party and can always be transferred back to the corporation.