Seacoast Trust
2023 Annual Report
As we reflect on the remarkable progress of the Seacoast Trust in 2023, I am filled with immense gratitude for the unwavering support of our partners and funders. Your belief in our vision has enabled us to take significant strides toward creating generational abundance in Southeast Alaska.
The past year has been a testament to the power of collaboration and the resilience of our communities. We have witnessed the growth of the Sustainable Southeast Partnership (SSP), a collective impact network that has fostered meaningful connections and catalyzed positive change across the region. The success of the SSP has attracted new catalysts and communities, further strengthening our efforts to promote Indigenous stewardship, economic prosperity and environmental restoration.
The launch of the Seacoast Indigenous Guardian Network (SIGN) has been a momentous achievement, empowering Tribes and communities to steward and restore balance to their traditional homelands and waters. With five communities already employing Indigenous Guardians, we are witnessing the tangible impact of our work on the ground.
Letter from the Ex
Dear Funders and Partners, Furthermore, our collabora Service to support commun Tongass National Forest P to the trust and recognition opportunity represents a si incorporating Indigenous v priorities into long-term fo of the largest temperate rai
As we look ahead, we are e next phase of our journey, ultimate goal of raising $10 Trust. With your continued our efforts to create Native promote food sovereignty i workforce development an maximize the climate mitig temperate rainforest.
We are deeply grateful for our partners, who have ma possible. Together, we are where communities thrive, natural world flourishes
Thank you for your commi shared vision of generation
xecutive Director
ation with the USDA Forest nity engagement for the lan Revision is a testament n we have built. This ignificant step toward values and community orest management practices inforest in the world.
excited to embark on the working toward our 00 million for the Seacoast d support, we will amplify e Forest Partnerships, initiatives, support d small businesses and gation potential of the the belief and generosity of de these achievements paving the way for a future , economies prosper and the in balance and harmony. tment to our nal abundance.
Gunalchéesh (Thank you),
Gah Kith Tin Alana Peterson Executive Director Spruce Root
Letter from the Investm
Ka Kugesh
Leilani Wilson Walk Chair
Chi’cut Laird Jones
Yaa sh kanda.ets’ Kevin O’Neal-Smith, Vice Chair Gunnuk’ Anthony Mallott
'Wáahlaal Gíidaa
Barbara Blake
Tin’aa Kéet
Matthew Vander
ment Committee
Watsdáa
Dear Partners and Supporters,
The Seacoast Trust Investment Committee is honored to share with you the remarkable progress we have made in 2023, the first full operational year of our work. Indigenous values foundational to Southeast Alaska guide our approach, ensuring investments align with the principles of balance, self-determination and respect for the land and its people.
ak
rpool
Gah Kith Tin Alana Peterson, Ex Officio
Continued >
Micah S. McNeil
Throughout the Investment Com established a ro framework. The appointment of was our first ma With our invest Committee draf investment poli establishes guid that govern inve Spruce Root boa investment poli investments beg This policy refle commitment to social and envir ensuring our in financial return for the commun Alaska and the the rest of last y diligently to inv Seacoast Trust u
e past year, the mmittee has obust investment e search and an investment adviser ajor milestone in 2023. tment adviser, the fted the Seacoast Trust icy statement, which delines and principles estment decisions. The ard approved the icy statement and gan in Spring 2023. ects the Committee’s o balancing economic, ronmental well-being, vestments generate ns and positive impacts nities of Southeast wider world. Across year, we worked vest the assets of under the policy.
Since inception, the portfolio has surpassed its benchmark and, importantly, all of its restricted capital is above the original contribution level. Through a combination of market performance and donor contributions, the portfolio’s market value as of December 31, 2023, was $23.1 million. We are looking forward to using the returns of the Seacoast Trust to support the work of the Sustainable Southeast Partnership. We are honored to be part of this transformative initiative and to contribute to the collective well-being of the people and lands of Southeast Alaska. Together, we are forging a path toward generational abundance, rooted in the wisdom and values of our Indigenous communities.
Gunalchéesh for your trust and support, Seacoast Trust Investment Committee
The Seaco
By centering Indigenous values and self-determin and long overdue shift in conservation finance that benefiting both people and
The investments of Seacoast Trust, guided by a fully Indigenous committee of investment experts and community leaders, are grounded and aligned with Indigenous values. Annual earnings will fund a different kind of conservation: One that understands people and communities are inseparable components of a healthy environment, and that thriving rivers and forests require mechanisms that shift power and resources to the people living in the region.
oast Trust
ation, the Seacoast Trust represents an innovative has tremendous potential to drive systemic change nature in Southeast Alaska.
Guiding Principles community voices and uphold Indigenous governance and leadership
Respect
Sustainable e Forest manag values
Preserving on the fight agai
Decreased co regions locke development
A framework
Demonstratin empowered to Anticipa
Envision Bala
the next 100 years by planning with the next generation economic and enviro well-b
ated Benefits Of The Seacoast Trust
mployment opportunities for Indigenous communities gement practices grounded in Indigenous stewardship ne of the most important carbon storage solutions in inst climate change onflict among stakeholders and a model for other ed in disputes over conservation versus economic for healing and reconciliation
ng what’s possible when local communities are o pursue their own priorities and well-being
ance Collaborate
c, social, onmental being with empathy, generosity and purpose
Integrity of all knowledge systems, including those anchored in Indigenous history, traditions and stewardship
Indigenous Roots, Indigenous
The Seacoast Trust is rooted in a challenge from Sealaska, the regional Alaska Native corporation, to conservation funders to match a pledge of $10 million The Nature Conservancy stepped up to this challenge with $8 million. Since this historical collaboration between an Alaska Native corporation and the larges conservation non-profit organization on the planet, additional partners and individuals have pledged thei support, including Rasmuson Foundation ($1 million), Edgerton Foundation ($1 million), Willam and Flora Hewlett Foundation ($700,000), Wilburforce Foundation ($250,000), Chorus Foundation ($100,000), and numerous individual donors. Gunalchéesh (thank you), to our partners. We are excited to announce that Seacoast Trust has received $1 million from an Indigenous stewardship fund launching later this yea
Futures
n. e t ir ), ($100,000), k t ar.
As of December 2023, the Seacoast Trust’s market value goal of $65 million to fund the estimated $3.2 million SS fully funded Seacoast Trust of $100 million, which will a
Native Forest Partnerships
Healthy salmon habitat
e was $23.1 million. We are working toward our next SP budget in 2025. Our long-term goal is to reach a allow for all Southeast Alaska communities to have:
Indigenous Guardians programs Youth leadership opportunities
Food sovereignty initiatives
Strong, local, regenerative economies
The Seacoast Trust is showing Alaska — and th development can look like: A mutual commitment dreams for the future amid the life-sustaining health call for our sh
Maximized climate mitigation
Reduced energy prices & lower carbon footprints
he world — what conservation and community to Indigenous communities and their hopes and h of the lands and waters that now, more than ever, ared efforts.
For Generationa
“In one hundred years, we will k forests are intact, Indigenous com to thrive, and Indigenous people stewardship of their homela immemorial. Ch’u tleix áwé kuga
Crystal Yankawgé Nelson, Equitab
The Nature Conservancy,
know we ’ ve succeeded when our mmunities and cultures continue es around the world are leading ands as they have since time aagastee (it will be so, forever).”
ble Conservation Project Manager, , SSP Steering Committee
l Abundance
Pr
The Sus
$960,00 support collabo
The SSP the larg
The SSP togethe regiona develop Klukwa and am Our tea replicat and Aot abunda similar
ogram and Impact Highlights
Capacity Building and Collaboration
stainable Southeast Partnership (SSP) provided 0 in catalyst awards and $700,000 in direct project t, empowering communities and fostering regional ration.
P’s 2023 spring retreat in Sh’eetka Kwaan (Sitka) was gest, with 160 people representing over 60 entities.
P's 2023 fall retreat in K'aaw Slaay (Craig) brought er regional and community catalysts, including a new al healing catalyst, a new regional rural economic pment catalyst, and new community catalysts from an, Angoon and Skagway, strengthening relationships plifying our collective impact. am has shared about our model and how it might be ted with relatives on the Olympic Peninsula, Hawai’i tearoa (New Zealand). We’re building generational nce and setting an example that we hope inspires efforts around the globe.
Indigenous Stewardship and Conservation
The Seacoast Indigenous Guardian Network (SIGN) was launched, enabling six communities to appoint Indigenous Guardians to steward and restore balance to their traditional homelands and waters.
Three Native Forest Partnerships continued to thrive in Hoonah, Kake and Klawock, bringing together diverse landowners to restore habitat and create cohesive management plans for the region’s forests.
Thousands of feet of salmon habitat and hundreds of acres of younggrowth forest have been restored, and access to traditional harvesting areas has been maintained.
Economic Development and Workforce Opportunities
The Alaska Youth Stewards program provided hands-on experience and professional skills development for young people in local stewardship activities. Through Spruce Root, the Seacoast Trust supported workforce development initiatives, small business support, and access to loan capital.
Forest Sustainability and Climate Resilience
Spruce Root secured a contract with the USDA Forest Service to design and support community engagement for the Tongass National Forest Plan Revision, ensuring the incorporation of community values and priorities into long-term forest management practices. Renewable energy initiatives were supported to reduce energy costs and lower the carbon footprint of rural communities in Southeast Alaska, including biomass heating projects in Kake, Hoonah, Angoon and communities on Prince of Wales Island.
Financial Pe
erformance
Investment Implementation
The implementation of Seacoast Trust’s investment portfolio began in May 2023. Per the investment policy, the assets have been gradually invested across asset classes through January 2024, with the portfolio nearing its “fully invested” target allocation by the end of March.
Performance Since Inception
Since its inception in May 2023, the Seacoast Trust portfolio has returned an impressive 7.5%, which exceeds our benchmark. Notably, the portfolio’s restricted capital is above the original contribution level. Through a combination of market performance and new donor contributions, the portfolio’s market value has grown from approximately $17.8 million when investing began to $23.1 million as of January 22, 2024, a significant milestone in our journey toward achieving generational abundance for Southeast Alaska.
Asset Allocation
(as of December 31, 2023)
Cash: $4,784,375 (20.7%)
Fixed Income: $4,523,268 (19.5%)
Credit/Hybrid: $770,071 (3.3%)
Equity: $11,773,831 (50.8%)
Private Equity: $499,986 (2.2%)
Real Assets: $829,595 (3.5%)
Miscellaneous: $3,022 (0.0%)
Total: $23,184,147 (100.0%)
Donor Contributions
The Seacoast Trust has received generous contributions from various donors, including:
1.
Sealaska: $10,000,000
The Nature Conservancy: $8,000,000 2.
3.
Rasmuson Foundation: $1,000,000
4.
Edgerton Foundation: $1,000,000
5.
Not-yet-public Indigenous Stewardship Fund: $1,000,000
6.
Unrestricted and Individual Donations: $575,667
Market Value by D through 12/31/20
Sealaska: $10,784,828 (46.5
The Nature Conservancy: (37.3%)
Rasmuson Foundation: $1 (4.5%)
Edgerton Foundation: $1, (4.5%)
Not-yet-public Indigenou Stewardship Fund: $1,035
Seacoast Trust, LLC - Un $621,863 (2.7%)
Adjusted Total Retu
Donor
023
5%) : $8,641,798
1,050,143
,050,413 us
5,372 (4.5%)
nrestricted:
No distributions were made in 2023, and no distributions are anticipated for 2024, which is intended to give the Seacoast Trust portfolio more time to grow.
urn: $1,580,208
Since its inception, the Seacoast Trust's investment portfolio has demonstrated strong performance, thanks to the expertise of the Investment Committee and a well-executed investment strategy.
A robust asset allocation and the support of generous donors, positions the Seacoast Trust to continue generating financial and impact-related returns that will fuel its mission of promoting Indigenous-led conservation, economic development and climate resilience in Southeast Alaska.
Will you join us? seacoasttrust.org/donate
Annual
report photos by Lee House, Bethany S. Goodrich, Ian Johnson, Lione Clare and Kaa Yahaayí Shkalneegi Muriel Reid.