2021 Annual Report

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COASTAL VILLAGES REGION FUND | ANNUAL REPORT 2021 | 1 COASTAL VILLAGES REGION FUND 2021 ANNUAL REPORT An Ocean Of Opportunity

2021 ANNUAL REPORT Table of Contents EMPLDIRECTOYMENT SustainableCreatingJobs TOPATHWAYSSUCCESS Supporting Youth for Career Success COMMUNIT ESSENTIALSY EssentialsProviding MILLION109.86POUNDSPollock Caught MILLION12.80POUNDSCOD Caught MILLION3.69 POUNDS Crab Caught $14 MILLION INVESTED IN CVRF COMMUNITIES IN 2021 BERING SEA EARNINGS FUEL ECONOMIC DEVELOPMENT 160 STAFF & BOARD in 20 COMMUNITIES AND ANCHORAGE $4.6 MILLION in EARNED WAGES $667,000 in EMPLOYEE BENEFITS 623 YOUTH TO WORK and INTERNS $558,067 in EARNED WAGES 86 RECIEVEDSTUDENTS$342,200 in SCHOLARSHIPS $2.1 MILLION in PeoplePropel® SUPPORT 22,500 LBS. of SALMON 1,986 receivedHOUSEHOLDS 49,000 GALLONS of HEATING OIL 1,518 PREPARED TAX RETURNS Our Mission ............................................................................ 3 Report From The CEO: An Ocean of Opportunity ............. 4 By The Numbers: People, Employment & Fishing ............ 5 Responsible Stewardship: Caring for Alaska’s Resources ............................................. 6 Our Fleet: Fisheries Fuel the Future 8 Focus on Community: Deepening Support and Commitment ............................. 9 Youth-to-Work Maritime Program: Innovative Ways to Provide Marine Training ................... 10 Scholarship Program: A Chance to See the World 11 Internship Program: Doing Important Work 12 CVRF’s GIS Mapping Project: Providing Insights into Community Issues 13 Rural Housing Program: Addressing the Housing Shortage ..................................... 14 Doing the Work, Seeing the Results: Honda & CVRF Saving Residents Time and Money ........ 15 People Propel®: Providing Support for Our Communities ......................... 16 Pollock Provides® Heating Oil Program: Helping Keep Homes Warm ................................................ 17 Pollock Provides® Elder Program: Honoring Our Elders 17 Financial Disclosures ........................................................... 19 Board of Directors ................................................................ 25 Message from the Chairman ................................................ 26

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OUR CORE VALUES

OUR CORE COMPETENCIES

• Support bold thinking and continuous innovation.

• Respect for and Understanding of the Land, Sea and Resources

• Industrious People + Job Opportunities = Self-determination

• Develop and deploy successful business models and adapt as needed for future use.

OUR VISION

• Balance the needs, wants and expectations of all — now and seven generations from now.

• Deliver efficient and equitable economic benefits to our communities.

ALASKA Scammon Bay ChevakNewtokTununakToksookBay NapakiakKongiganakTuntutuliakNapaskiakQuinhagakEekOscarvilleNightmuteKwigillingokChefornakKipnukGoodnewsPlatinumBay MekoryukHooperBay

• Growth and Sustainability Through Maximum Return on Capital

• Deliver disciplined, purposeful and sensible initiatives to sustain and stimulate new economic growth in our region. MEMBER COMMUNITIES

COASTAL VILLAGES REGION FUND | ANNUAL REPORT 2021 | 3 COASTAL VILLAGES REGION FUND

To be responsible stewards of all our resources; proactively identify and pursue investments that develop those resources; and to deliver value to our communities and people.

• Active Community Participation

• Understand risks/rewards, develop a plan of action, support it and execute on it.

• Trust, Integrity and Teamwork

Our Mission

• Effective Strategic Leadership

• Scammon Bay • Hooper Bay • Chevak • Newtok • Tununak • Mekoryuk • Toksook Bay • Nightmute • Chefornak • Kipnuk • Kwigillingok • Kongiganak • Tuntutuliak • Napakiak • Napaskiak • Oscarville • Eek • Quinhagak • Goodnews Bay • Platinum OUR

To develop thriving local economies in Western Alaska that create opportunities for current and future generations.

• Respect for and Understanding of All People

OUR MISSION

ERIC DEAKIN, CEO COASTAL VILLAGES REGION FUND

Success in our business operations led to success in our delivery of benefits to the community. Our local team members served record numbers of families across our region. Our Board approved an extra round of People Propel® , our largest and most popular program, which helps our residents afford the machines and equipment they need to thrive in rural Alaska. Our first-of-its-kind Honda warranty repair program operated for its first full year and is poised for future growth as our population continues to expand.

Today, our region is suffering from unprecedented challenges to housing, food security, and our timeless cultural practices...CVRF wants to be part of the solution.

ERIC DEAKIN, CEO COASTAL VILLAGES REGION FUND

Thanks to our dedicated and professional team members, 2021 was one of our best years ever. Against all odds, our crews harvested our quotas without a single COVID outbreak on our vessels. Our first full year of catching crab for our tribal partners in the community quota share partnership was not without its challenges, but despite low crab quotas we still enjoyed record revenues from robust seafood sales made possible by strong global markets for our sustainable, affordable, low-carbon pollock and our highervalue cod and crab products.

Looking ahead, we know 2022 will be a challenge. Harvest quotas are down, especially for crab, and the salmon runs are not bouncing back quickly. Nonetheless, CVRF remains committed to leading the fishing industry in bycatch avoidance, developing new best practices for sustainability, and continuing to provide benefits to our growing region.

An Ocean of Opportunity

With that growth in mind, we have expanded our leadership to new arenas with a goal of improving the quality of life in our region. We advocated for more housing resources and, with Senator Lisa Murkowski’s help, convinced the U.S. Senate to look at stretching federal housing dollars further through CVRF’s rural housing program. We also stepped up to help Tununak meet minimum economic activity thresholds so it qualified for State of Alaska investments in water and sewer systems. Such infrastructure is fundamental to the success of communities everywhere, and there is no reason why our region should lack what other parts of Alaska and America take for granted.

4 | COASTAL VILLAGES REGION FUND | ANNUAL REPORT 2021 REPORT FROM THE CEO

Today, our region is suffering from unprecedented challenges to housing, food security, and our timeless cultural practices. Chinook and chum salmon runs are at all-time lows. Climate change, competition from foreign hatchery fish, intercept fisheries, and bycatch in the Bering Sea fleets are all to blame, to various degrees. While we know that trawl bycatch is only a small part of the problem, CVRF wants to be a big part of the solution. We have already adjusted our operations to move our vessels away from areas of high salmon bycatch and are working with regional and state organizations to promote greater research and monitoring, as well as support new technology development to reduce bycatch. In moments of need, we have provided salmon for our residents by purchasing fish from Bristol Bay, whose sockeye runs are seemingly unaffected.

COASTAL VILLAGES REGION FUND | ANNUAL REPORT 2021 | 5 POLLOCK CAUGHT POUNDSMILLION POUNDSMILLION POUNDSMILLION COD CAUGHT CRAB CAUGHT 109.86 12.80 3.69 2021 BY THE NUMBERS People, Employment & Fishing CVRF is devoted to serving our communities and meeting their unique needs — today and in the future. 2021 POPULATION 2021 JOBS, WAGES + BENEFITS 2020 vs 2021 BERING SEA CATCH RATES 1000080004000200006000 2012 2015 2018YEAR 2019 2020 2021 8,927 9,441 9,517 9,312 9,328 9,140 ADULTS 2,2131,1295,580HOUSEHOLDSYTW-AGED18+YOUTH SOURCE: State of Alaska Permanent Fund Division (2021). Revenue Permanent Fund Information System dataset for 2021 Dividend year (PFD). YOUTH TO WORK (YTW) + 623EMPLOYEESINTERN IN-REGION EMPLOYEES + BOARD MEMBERS 160 EARNEDTOTAL $5.1MWAGES $667KBENEFITSEMPLOYEE POLLOCK CAUGHT POUNDSMILLION POUNDSMILLION POUNDSMILLION COD CAUGHT CRAB CAUGHT 116.90 13.29 2.43 2020 In 2021, CVRF employed 783 in-region residents who earned $5.1 million combined. We are grateful to be able to continue investing in our staff and communities by offering training and professional development opportunities.

RESPONSIBLE STEWARDSHIP

Figure 1: Bering Sea Chum Salmon Bycatch Graph (Next Page)

Figure 3: In all of 2021, the Northern Hawk Harvested... (Next Page)

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In the spirit of this mission, we have focused our efforts on both Alaskanizing and protecting the ocean’s resources.

Fin samples were collected from one out of 30 chum that were caught in the BSAI Pollock fishery. A subset of these were genetically tested, and statistical methodology applied to determine where they may have been headed: Upper/ Middle Yukon, Southwestern Alaska, Western Alaska, Pacific Northwest & Eastern Gulf, Russia & Asia. Of the 545,883 chum bycatch from the fishery in 2021, the vast majority (369,017 or 67.6%) were Russian & Asia fish.

In 2021, The Northern Hawk’s total chinook salmon bycatch number was 385, well below our limit and a small fraction of the nearly 275,000 chinook commercially harvested in Alaska in 2021.

CVRF’s pollock, longline cod, and crab fisheries are among the cleanest and most sustainable fisheries in Alaska. Pollock is one of the least carbon-intensive animal protein sources on the planet, and we fight climate change every time a customer chooses pollock over beef, pork, or chicken.

as to the North Pacific Research Board Advisory Panel. He brings more than two decades of experience as a fisheries biologist and observer and will advocate for CVRF

We advocate for more research into changing ocean conditions, competition with hatchery salmon, and harvest of Arctic-Yukon-Kuskokwim (AYK) salmon in other fisheries. We promote greater investment in bycatch avoidance technology. The Northern Hawk now has a live underwater camera system to help us avoid salmon. An upcoming project with the Alaska Ocean Cluster and The Denali Commission will test LED net lights that may improve escapement. We look forward to sharing the results of this research. CVRF will continue to be a model for sustainable fishing operations in the Bering Sea.

CVRF works diligently to reduce incidental catch and minimize the impact on the environment. As Alaskans in control of our fleet, we pride ourselves on minimizing bycatch. Making our fleet one of the cleanest in the Bering Sea in reducing bycatch. In 2021, The Northern Hawk’s total chinook salmon bycatch number was 385, well below our limit and a small fraction of the nearly 275,000 chinook commercially harvested in Alaska in 2021. Our quota manager, PAUL WILKINS has been appointed to the North Pacific Fishery Management Council’s Advisory Panel as well

Caring for Alaska’s Resources

For Coastal Villages Region Fund (CVRF), everything begins with Alaska’s natural resources. We sustainably harvest Bering Sea pollock, cod, and crab using the only 100% Alaskan-owned fleet with vessels in all of these major fisheries. We process our own catch, selling a CVRF-branded product to commercial food customers both domestically and internationally. Though CVRF’s business operations stretch around the world, all our profits return to western Alaska, and we are committed to driving sustainable and responsible economic growth in the region by funding diverse programs that serve the residents of our 20 communities. Our mission motivates us to protect all the resources our communities depend on today.

PAUL WILKINS

The industry has stayed below the regulatory threshold cap (which was 33,318 in 2021 & 2022).

Figure 2: Number of Chinook Salmon (2003-2021) graph (Next Page)

NUMBER OF CHINOOK SALMON (2003-2021*) SOURCES: NOAA Fisheries, Alaska Region, Alaska State Legislature House Fisheries Committee, presented to NPFMC in April, 2021. 2021*202020192018201720162015201420132012201120102009200820072006200520042003 100,00080,00040,00020,000060,000120,000140,000 Bering Sea

Bering Sea Chinook Salmon BycatchChum Salmon Bycatch

COASTAL VILLAGES REGION FUND | ANNUAL REPORT 2021 | 7

GENETIC COMPOSITION ESTIMATE (2021 B Season Pollock Fishery) TOTAL CHUM CAUGHT: 545,883 SOURCE: NOAA Report to the North Pacific Fisheries Management Council, May 23, 2022 (June 2022). Figure 1 Figure 2 20.6% Pacific Northwest & Eastern Gulf of Alaska (112,452) 0.5% MiddleUpper/ Yukon (2,729) 8.9% Western Alaska2.4%(48,584)SouthwesternAlaska (13,101) Russia&Asia 67.6%Russia&Asia (369,017) 283,283,718718 CHINOOK SALMON. IN ALL OF 2021, THE NORTHERN HAWK HARVESTED AND 109109385,231,335OFPOLLOCKPOUNDS,231,335OFPOLLOCKPOUNDS OF THAPOUNDSPOLLOCK1INDIVIDUALCHINOOKFOREVERYT’SOFPOLLOCKPOUNDS Figure 3 RESPONSIBLE STEWARDSHIP Caring for Alaska’s Resources (Continued)

OUR FLEET

This would not be possible without the innovative, sustainable operations of our Bering Sea fleet and the crew and staff members working diligently to maintain them during global crisis. Despite the ongoing challenges of the pandemic, our Bering Sea fleet ended 2021 with a perfect

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Fisheries Fuel the Future

record of zero onboard COVID cases (it was the second year in a row we achieved this success). Our thanks go out to LORENA ROSENBERGER and MICHAEL COLEMAN, who help run our fishing operation, as well as to the dedicated crew members who put in the work, day in, day out, to fish our quota sustainably and with the long-term health of the resource in mind. We look forward to continuing this work and providing tangible benefits to our residents for generations to come.

In 2021, our Bering Sea fleet caught more than 126 million pounds of pollock, cod, and crab and generated more than $100 million in revenue from sales of these fish products.

CVRF leveraged this revenue to fund a wide variety of programs — including education, youth employment, elder benefits, and scholarship programs — that invest not only in today’s communities but also in the future of Western Alaska. By funding a full suite of programs that

assist residents at every stage of their life, from their youth through adulthood and into their elder years, we help in developing the region’s economy.

I’m proud of the work we do at CVRF and the positive impact we have on our region. We have an incredible opportunity to change lives for the better.

OSCAR EVON

we did was hire OSCAR EVON as our new Director of Regional Affairs.

OSCAR EVON, CVRF DIRECTOR OF REGIONAL AFFAIRS

COASTAL VILLAGES

Born and raised in Kwigillingok, he knows from personal experience what our communities need and the challenges residents face when living in remote communities. Years ago, Oscar worked with us as the Kwigillingok representative on our Board of Directors, where he served as a voice for his people.

Focus on Community Deepening Support and Commitment to Our People

REGION FUND | ANNUAL REPORT 2021 | 9 COMMUNITY PROGRAMS

CVRF has been serving its communities in Western Alaska for thirty years, but few have been as transformative as the last two. Amid the turmoil of a global pandemic and national crises, we made the decision to deepen our support of and commitment to our people, making their health and well-being a focal point for everything we do. That’s why we invested in our regional affairs team, bringing on new team members and providing additional resources so that our staff in the department can better serve residents of all 20 of our Onecommunities.ofthefirstthings

Oscar now leads a team of dedicated professionals who are passionate about serving as good stewards of local resources and delivering benefits to our residents. A year into the position, he sees his role as a perfect opportunity to ensure CVRF is supporting its communities effectively. We look forward to continuing to work with Oscar and his team to find better ways to serve our communities and support their ongoing development.

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Innovative Ways to Provide Marine Training

crew members for work on a ship by familiarizing trainees with the inner workings of a boat and the different tools and procedures needed to keep it running safely and efficiently. Our team is now in the process of working with our VR partners at Designori to develop the various VR training modules necessary to facilitate virtual training for participants in Western Alaska.

I believe you should always have a good work ethic — no matter where you go or what you do.

We also continue to offer our Youth-to-Work Maritime (YTWM) Program, which is now in its third year of operation. Each summer, YTWM participants gain hands-

MIGUEL PADILLA

Adding Virtual Reality to our Youth-to-Work Maritime Program

on maritime experience and in-depth nautical training that fulfills the requirements for a certificate in nautical skills from Alaska Vocational Technical Center (AVTEC). In 2021, 35 youth participated in this program, which is designed to impart the basic skills needed for them to pursue a career in the maritime industry. For TERRENCE ENOCH, the YTWM Program was a way to learn new skills and strengthen existing ones. He said that the YTW Programs he took part in were useful to him as a way of preparing him for a career. “I believe you should always have a good work ethic — no matter where you go or what you do.”

COMMUNITY PROGRAMS

MADELINE TULIK helped us scope out this project and facilitated collaboration between our vendors, leadership team, and department staff. Early on, Madeline and team identified marine training as the best arena for developing the VR module, because the industry is highly specialized and requires technical and immersive training on a boat. This VR training program is intended to help prepare future

TERRENCE ENOCH, YOUTH-TO-WORK PARTICIPANT

In 2021, our programming team embarked on an ambitious new venture: to expand our program offerings by building a virtual reality (VR) training program.

A Chance to See the World

CVRF’s Scholarships Fund Youth Education

For youth in Western Alaska, continuing education beyond high school often means traveling to other regions of the state — and beyond. For MIRANDA PAUL, a recipient of CVRF’s Louis Bunyan Memorial Scholarship in 2021, higher education has opened a world of new opportunities.

SCHOLARSHIPS

After graduating from high school in May, Miranda traveled to Seward, where she enrolled in the culinary program at AVTEC. Her success there led to an offer to take part in a prestigious five-year culinary program in France, to begin no later than the end of 2023. In the meantime, she’s

COASTAL VILLAGES REGION FUND | ANNUAL REPORT 2021 | 11

I always try to be a role model for people. Right now, I am that for my classmates at AVTEC, because I’m one of the oldest.

Miranda is one of 86 individuals who received either scholarship or training awards in 2021. In total, CVRF distributed $342,200 in scholarships to students. We encourage all residents either currently enrolled or planning to enroll in a university, college, or vocational program to

continuing her education at AVTEC with classes in welding and maritime safety. She says now is a good time for her to learn new skills. “I’m young, and my brain is still fresh, so I can hold all these different skills and decide later which path I like best.”

MIRANDA PAUL

apply for the Louis Bunyan Memorial Scholarship. Note that, for students, the minimum GPA requirement is 2.0. The higher the applicant’s GPA, the greater the chance of qualifying for the maximum available funding — $4,000 per semester.

MIRANDA PAUL, SCHOLARSHIP RECIPIENT

At CVRF, our interns are an essential part of our operation. We’re committed to providing youth in our communities with opportunities to learn, grow, and build professional skills. As part of our annual internship program, we offer classes in resume writing and professional development, as well as work with instructors from the University of Alaska to prepare interns for life as students in a higher education or vocational program. For LEISHA LOZANO, interning at CVRF over the last two years has been a valuable experience and one way of funding her education at University of Alaska Fairbanks, where she is studying social work.

During the pandemic, CVRF has maintained the health and safety of the community as one of its highest priorities. In addition to enacting COVID protocols that enabled our fleet to operate for two years without a single onboard case of COVID, we have gone the extra mile to ensure our operations in region do not risk the safety of staff or residents. We have distributed PPE to people in the region and instituted no-contact deliveries of the essential goods we provide to help our communities grow and thrive.

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FEEDING OUR COMMUNITIES

CVRF PROVIDES PPE TO KEEP COMMUNITY SAFE

LEISHA LOZANO

INTERNSHIPS Doing Important Work The Internship Program

Last summer, when the Department of Fish and Game closed subsistence fishing in Chevak, Hooper Bay, and Scammon Bay, leaving many residents unable to fill their freezers and fish racks for the winter, CVRF jumped into action. By partnering with other Alaska organizations, including Alaska Marine Lines, Ryan Air, King Salmon Ground Services and SeaShare, CVRF was able to help deliver salmon to more than 625 households in CVRF’s largest communities. In total, CVRF and its partners provided 22,500 pounds of salmon, 6,000 pounds of which were donated by Ekuk Fisheries and distributed via SeaShare.

In 2021, 10 high school and college students participated in the summer internship and earned a total of $72,600.

A hardworking student, she enjoyed the challenges of the CVRF internship and the opportunity to develop new professional skills. One of her favorite parts of the internship was working on the GIS program during the fall semester. “The software we were using was really complex, and we had to attend trainings and watch videos to learn how to use it. I’m glad I did, though, because it was so rewarding to see my maps come together and to say, ‘I did it!’ I know this experience will open up new opportunities for me in the future.”

We hope that collating the data will help identify solutions to this and other issues in the years to come.

Department of Natural Resources Recorder’s Office, Bureau of Land Management, Alaska Village Electric Cooperative, and Alaska Native Tribal Health Consortium, our team has begun developing a functional map tool with the help of ArcGIS Pro software. The ultimate goal of the program is to map all 20 communities and make the maps accessible to key stakeholders via a free web portal

Last year, CVRF kicked off the geographic information system (GIS) mapping project. This GIS map is intended to collate data on regional roads, utilities, topography, and population to create a detailed multi-layer map that can help with future planning and infrastructure projects in all 20 of our communities. Since kicking off this project, our team lead RODERICK ATTI has piloted GIS mapping in three communities: Chevak, Toksook Bay, and Tununak.

of the Alaska Map Company. When completed, the map portal will be an invaluable tool for future development and infrastructure projects. STEPHEN MAXIE III, who worked on the mapping project during his internship, said that the data being gathered was eye opening. “When you look at the number of people per household, it really emphasizes the impact of the housing shortage in our communities.”

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COMMUNITY ESSENTIALS

CVRF’s GIS Mapping Project Provides Insights into Community Issues

“We hope to finish the other 17 communities within the next two or three years,” said Atti, whose team has been hard at work developing the maps with ArcGIS and the assistance

RODERICK ATTI

Using data sourced from many organizations, including the Alaska Division of Community and Regional Affairs, Alaska

When you look at the number of people per household, it really emphasizes the impact of the housing shortage in our communities.

STEPHEN MAXIE III, FORMER GIS PROJECT INTERN

ENSURING HOMES ARE LEVEL IN WESTERN ALASKA

To solve this problem, CVRF has been working with community and organizational partners at the Bureau of Indian Affairs (BIA), U.S. Department of Agriculture (USDA), U.S. Department of Housing and Urban Development (HUD), Nunakauiak Yup’ik Corporation (NYC), Nunakauyak Traditional Council (NTC), and others. With the support of these partnerships, CVRF was able to develop a multi-phase housing process that includes site surveys, loan applications, construction and more. We are currently in the planning and construction phases for five new homes in Toksook Bay.

Houses built in the 1960s and 1970s have shifted over time and are now in dire need of leveling to remain upright and functional. Homeowners in our communities do not have the resources to level their own homes — but CVRF staff does. We discovered that the U.S. Department of Agriculture (USDA) was offering residents funding via grants of up to $7,500 to level their homes or for home repairs. Once the funding was secured, CVRF staff helped residents purchase lumber and materials. Local M/Ws then used the materials to level the homes. So far, this pilot program has helped two residents in two communities complete necessary work on their homes.

In a community needs assessment conducted in 2021, 42% of respondents living in the 20 rural communities we serve indicated that housing was the biggest problem they face today — above healthcare, education, and other issues. This speaks to challenges our communities face in both constructing new homes and financing them sustainably.

CVRF’s Rural Housing Program

Addressing the Housing Shortage

14 | COASTAL VILLAGES REGION FUND | ANNUAL REPORT 2021 COMMUNITY ESSENTIALS

PAUL JOE JR., MECHANIC/WELDER IN HOOPER BAY SINCE 2006

PAUL JOE JR.

When we first began talking with the American Honda Motor Company about a partnership that would enable CVRF M/Ws to complete warranty repairs on Honda vehicles, we anticipated that this program would have a positive impact on our communities. Now, we can see the results of our hard work in the benefits the program provides residents. Prior to instituting the program, a warranty repair on a Honda ATV or snowmachine would cost well over $1,000 due to shipping costs from Western Alaska to Anchorage — and that round-trip shipping meant warranty repairs would often take weeks.

Thank you, CVRF, for giving people opportunities to get their own vehicles and for helping elders and youth. You guys make me believe in myself and help me save money to buy the equipment I need for the things I love to do. Quyana very much.

For LOUISE BUNYAN, of Hooper Bay, losing access to her four-wheeler and paying $1,000 or more just to repair her lights would have been unreasonable. She needed her four-wheeler to fish and continue a subsistence way of life. Thanks to our warranty repair program, she was able to take her vehicle to the local CVRF shop. “I didn’t have to pay for the warranty repair, and, while I was there, I got my tires and oil changed,” Louise said. “I’m so happy for the program. It saved me a lot.”

COASTAL

Honda and CVRF Partnership Saving Residents Time and Money

LOUISE BUNYAN, HOOPER BAY

COMMUNITY ESSENTIALS

Doing the Work, Seeing the Results

VILLAGES REGION FUND | ANNUAL REPORT 2021 | 15

The CVE Program has improved since inception, which is great for providing services to our community members. Being the only shop in town, the services we provide are vital. One of my goals is to help train the next generation. CVRF is a good place to start a career.

Since its inception in 2013, CVRF’s People Propel Program® has provided $14 million in subsidies to help more than 5,000 people purchase $42 million worth of essential equipment, including boats, motors, ATVs, snowmachines, fishing and safety gear, heating systems, and much more. Last year, we opened two rounds of People Propel®, in which we accepted 867 applications. In total, we provided approximately $2.1 million in

GRACE LOPEZ, EEK

CVRF’s People Propel® program helped us get our motor and four-wheeler six years ago, and it still runs well to this day thanks to the mechanics at CVRF’s shops.

financial support and helped community residents purchase more than $6.7 million in equipment, which contributes to the economic development of the region.

“Before the People Propel® Program started, banks did not even know some of these villages even existed,” says NILE AGUCHAK , a resident of Scammon Bay. Aguchak also stated that having their own boats and motors has

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COMMUNITY ESSENTIALS People Propel ® Providing Support for Our Communities FLORENCE KARGI CVRF PEOPLE PROPEL® HONDA ATV PURCHASES SINCE 2016 1,165PURCHASES:HONDATOTALATV MODEL Honda Recon (TRX250TM1) Honda Rancher (TRX420FM1) Honda Foreman (TRX500FM1) Honda Rubicon (TRX500FM6) Honda Rubicon (TRX520FM6L) Honda SideXSide (500m 2h) Honda SideXSide (700) NUMBER684753752921125 PERCENTAGE 32%41%6%3%18%<1%<1%

allowed families to get up and go anytime they want, instead of using a shared boat and wondering whether they would even be able to partake in subsistence activities. The program has helped them live a more independent subsistence lifestyle. He says, “It’s really hard to explain what it does for people and how great it is. I really encourage CVRF to keep it up!” He was able to buy a Silver Steak 22’ boat with a 90-horsepower outboard.

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COMMUNITY ESSENTIALS

Our Pollock Provides® Elder Program was established to recognize and honor the central role elders play in preserving our traditional knowledge and way of life in Western Alaska. Through this program, we have historically provided elders with essential foods and goods, winter coats, heating oil, and high-quality meat from Alaskan butchers. During 2021, the program provided additional heating oil for fueling the elders’ homes. In total, CVRF spent more than $213,000 dollars serving elders in our communities.

WILLIAM TINKER

Helping Keep Homes Warm Pollock Provides® Heating Oil Program

COMMUNITY ESSENTIALS

Honoring Our Elders Pollock Provides® Elder Program

JULIUS BELL

In Western Alaska, where winter temperatures regularly dip below 0⁰ F, heating oil is almost as essential to survival as food, water, and shelter. Our Pollock Provides® Heating Oil Program was designed to help alleviate some of the expense of purchasing heating oil in remote communities like the ones we serve.

Each winter, our staff coordinates delivery of heating oil barrels to each of our 20 communities in the coldest months of the year, when residents need it most. From late 2021 to spring 2022, CVRF spent $273,418 on the program and provided 1,986 households with more than 49,000 gallons of heating oil.

LARSON HUNTER, CHAIRMAN COASTAL VILLAGES REGION FUND

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We are here to serve our region’s residents and continue to provide benefits and opportunity.

The CVRF Bylaws create a CVRF Executive Committee consisting of seven members: the CVRF President, Vice President, Secretary, Treasurer, and three at-large CVRF Executive Board Committee members. The CVRF Executive Committee is authorized by the Bylaws to exercise all authority of the full CVRF Board in managing CVRF, except for the election of CVRF officers and Executive Committee

• The Finance Committee met on November 17.

• The Programs Committee met on November 16th.

Financial Disclosures

• The Policy and Compensation Committee & the Regulatory and Legislative Committees are currently inactive but will be reactivated as needs arise.

For CVRF’s six subsidiaries (Coastal Alaska Premier Seafoods [CAPS], Coastal Villages Pollock [CVP], Coastal Villages Crab [CVC], Coastal Villages Longline [CVL], Coastal Villages Enterprises [CVE] and Coastal Villages Seafoods [CVS]), CVRF has established subsidiary Boards.

• Each of the subsidiary boards met once in December for their annual meetings.

• The Fisheries Committee met on November 17th.

Bylaws also authorize the President, with affirmation from a majority of the CVRF Board, to appoint other CVRF committees with such functions, powers, and duties as determined by the President and CVRF Board. Using this authority, CVRF has established several committees comprised of members of the Board of Directors:

Themembers.CVRF

2021 ANNUAL REPORT

CVRF has not had any disagreements with its auditors (KPMG) in any year, including 2021 and 2020. CVRF received non-audit services from its auditors in 2021 and paid KPMG $205,825 for audit, tax and other consulting services.

• A Policy/Compensation Committee to make policy recommendations to the Board

• An Election Committee to advise the company on policies and procedures related to community Board member elections

• During 2021, the board further created a new Programs Committee and a Fisheries Committee. These two committees were established to provide direct board member input into the programs

• The Executive Committee met six times during 2021: February 25, June 16, August 3, September 2, October 22, and November 24.

COMPENSATION TO KEY CVRF PERSONNEL AND RELATED PARTY TRANSACTIONS

• The Full board met four times in 2021: March 10, May 5, October 13, and December 8.

and benefits being offered and to advise on issues related to commercial fishing operations or issues impacting in-region fishing operations or subsistence fishing.

• There were numerous informal meetings and teleconferences with the President/Vice President and the Administration.

of Directors works closely with Company leadership and is pleased with the results that the personnel in the company have helped deliver to our communities. CVRF maintains its commitment to hiring and retaining the best personnel available to benefit our stakeholders and residents.

• A Finance Committee to advise the Board on budgeting and financial matters

• A Regulatory and Legislative Committee to provide the Board with information about issues of interest to CVRF

• A Disciplinary Committee to make recommendations to the Board on a variety of topics related to Board member actions and interactions

• The Election Committee met twice on November 4 and November 16.

Thepersonnel.CVRFBoard

COMMITTEES AND COMMITTEE MEETINGS

• The Disciplinary Committee did not meet during 2021.

CVRF committees and subsidiary Boards are made up of members of the Board of Directors and met either in person or via electronic conferencing, as appropriate. Due to ongoing COVID-19 concerns, many meetings were held via video conference for safety and compliance with travel restrictions, although some meetings were held in person during the latter part of the year. We continue to look forward to resuming more normalized operations in 2022 and meeting with our Board members in person.

The federal CDQ statute requires each CDQ group to disclose the “compensation levels of the top 5 highest paid personnel” (16 U.S.C. § 1855(i)(1)(F)(ii)). Until 2012, there was also a CDQ Panel rule requiring the disclosure of the “total amount…received by each such individual.” CVRF has always reported the total amount paid to the company’s top five personnel, whether they are office staff or crew members. Starting with the 2012 annual report, CVRF expanded its report to include the company’s top 10

COASTAL VILLAGES REGION FUND | ANNUAL REPORT 2021 | 19

AUDITOR AND AUDITOR RELATIONSHIP

CVRF Board members receive a daily stipend during meetings and an additional monthly stipend for the CVRF-related work that occurs between CVRF meetings. CVRF’s Board compensation policy was adopted in June 2004 after consultation with independent experts. The policy stipulates that any changes must be approved by an independent body. The policy was last updated in January 2011 and approved by the independent authorized body comprised of an independent member of each community.

Father-in-law: M/W Manager ($119,251)

20 | COASTAL VILLAGES REGION FUND | ANNUAL REPORT 2021

Financial Disclosures (Continued)

CVRF was not engaged in any litigation with any of its directors during 2021.

Spouse: Winter Watchman ($2,000)

RELATED PARTY TRANSACTIONS

Daughter-in-law: CSR ($39,070)

For 2021, the top 10 highest paid positions earned the following: Owen Kvinge, Crab Vessel Captain, base salary $505,783; Eric Deakin, CEO, base salary $335,885, bonus $120,000; Damien Catala, Crab Vessel Captain, base salary $357,219; Harald Longvanes, Pollock Vessel Fishmaster, base salary $310,288; Michael Coleman, Bering Sea Operations Manager, base salary $301,333; James Egaas, Pollock Vessel Captain, base salary $300,714; Michelle Drew, CFO, base salary $290,096; Victor Richarte, Crab Vessel Deckhand, base salary $278,126; Thomas Hindermann, Pollock Vessel Chief Engineer, base salary $261,728; Terje Gjerde, Pollock Vessel Factory Manager, base salary $258,163.

None of CVRF’s employees or Board members have a financial relationship with any partners who lease or harvest CVRF’s quotas. Related party transactions with Board members include employee payroll:

Self: Winter Watchman ($11,404)

Daughter: Community Benefits Accountant ($63,130)

BOARD COMPENSATION POLICY AND FEES

guidelines. During 2021, CVRF paid its Board members $700,558 in salaries, stipends, and benefits.

Daughter: CSR ($44,616)

Sister-in-law: CSR ($50,535)

LEGAL PROCEEDINGS INVOLVING DIRECTORS

Daughter: CSR ($34,875)

The CVRF Board compensation policy is in full compliance with IRS Rebuttable Presumption of Reasonableness

In 2021, CVRF paid the following fees for professional services: (1) $486,802 in legal fees; (2) $899,592 in consulting fees; (3) $205,825 in accounting fees; and (4) $276,333 in lobbying fees.

2021 ANNUAL REPORT

Daughter: Accounting Specialist ($30,956)

The Board follows IRS Rebuttable Presumption of Reasonableness guidelines in calculating the salaries for its top executives, a process completed by an independent contractor, which includes comparisons with salary levels at other similar companies.

PROFESSIONAL FEES

Coastal Villages Region Fund has earned $1.66 billion in cumulative revenue over the last 24 years.

COASTAL VILLAGES REGION FUND | ANNUAL REPORT 2021 | 21 0 $1,800$1,$900$540$360$180,000,000,000$720,000,000080,000$1,260,000$1,440,000$1,620,000000 2021202020192018201720162015201420132012201120102009200820072006200520042003200220012000199919981997 2021 ANNUAL REPORT Financial Disclosures (Continued) 2021 GENERAL AND ADMINISTRATIVE EXPENSES CUMULATIVE REVENUES JANUARY 1997 - DECEMBER 2021 Advertising $ 135 Bad debt 389 Bank and finance 32,950 Communications 77,038 Computer and software 261,583 Depreciation 99,430 Drug screening & preemployment 1,935 Dues, permits, taxes & licenses 6,329 Freight 19,858 Insurance 426,111 Interest 4,398 Meals and entertainment 63,244 Other fees and charges 68 Payroll 4,395,495 Payroll taxes and benefits 581,574 Per diem 14,256 Printing 32,367 Professional services 2,417,536 Rent 14,663 Repairs and maintenance 855 Supplies 46,073 Training 9,934 Transportation and parking 12,363 Travel and lodging 98,329 GRAND TOTAL $ 8,638,109

THOUSANDS

Prepaid expenses 3,014,849 3,787,801

Deferred revenue 483,475 96,956 Security deposits 4,356 10,809

Trade accounts receivable, less allowance for doubtful accounts of $76,034 and $73,076 in 2021 and 2020, respectively 6,024,393 6,318,646

Accrued payroll liabilities 2,528,478 2,389,529

Deferred revenue 483,475 96,956 Security deposits 4,356 10,809

Investments in fishing rights 124,004,966 121,405,130 in fishing permits 301,196 362,838

L a bil t es a n d N et

Other investment 605,598

Deposits 19,414 22,196

8:58 AM p21 & 23. Audited FS schedules.xlsx 3 O STA L V I L L A GES R EGI O N F U N D A N D SU B SI D I A R I ES

Equity method investment 15,515,407 13,670,743

Other investment 605,598

Notes receivable – CQSs 7,444,325 7,227,500

DRAFT 8/30/22 8:58 AM p21 & 23. Audited FS schedules.xlsx

Notes receivable, current portion, net 25,749 62,080

Property, plant, vessels, and equipment, net 67,368,828 74,319,614

Notes receivable – CQS bridge loan 7,227,500

Total assets $ 306,373,956 288,421,370 L ia bi ities a n d N et A ssets

$ 2,595,973 2,914,510

Accrued payroll liabilities 2,528,478 2,389,529

Prepaid expenses 3,014,849 3,787,801

Notes receivable – CQSs 7,444,325 7,227,500

Total liabilities 5,614,329 5,416,801

Total assets $ 306,373,956 288,421,370 A ssets

Inventories 1,744,167 4,536,155

Property, plant, vessels, and equipment, net 67,368,828 74,319,614

Equity method investment 15,515,407 13,670,743

CurrentAccountsliabilities:payable and accrued expenses $ 2,595,973 2,914,510

Consolidated Statements of Financial Position (Balance Sheet)

Deferred revenue 483,475 96,956

Security deposits 4,356 10,809

Total liabilities and net assets $ 306,373,956 288,421,370

YEARS ENDED DECEMBER 31, 2021 AND 2020

Total liabilities and net assets $ 306,373,956 288,421,370

Equity method investment 15,515,407 13,670,743

Inventories 1,744,167 4,536,155

CurrentCashassets:andcash equivalents $ 78,653,728 47,572,359

Inventories 1,744,167 4,536,155

Accrued payroll liabilities 2,528,478 2,389,529

Net assets, without donor restrictions 300,759,627 283,004,569

Total current assets 89,462,886 69,504,541

Investments in fishing permits 301,196 362,838

Notes receivable – CQS bridge loan 7,227,500

Deposits 19,414 22,196

A ssets 20 21

Capital lease obligation, current portion 2,047 2,950

Total current assets 89,462,886 69,504,541

Notes receivable, excluding current portion 27,584 253,534

A

DRAFT 8/30/22

Assets held for sale 933,700

Prepaid expenses 3,014,849 3,787,801

CurrentCashassets:andcash equivalents $ 78,653,728 47,572,359

Capital lease obligation, net of current portion 2,047

Total current liabilities 5,614,329 5,414,754

Total liabilities 5,614,329 5,416,801

L ia bi ities a n d N et A ssets

Total liabilities 5,614,329 5,416,801

Assets held for sale 933,700

Assets held for sale 933,700

Investments in fishing permits 301,196 362,838

22 | COASTAL VILLAGES REGION FUND | ANNUAL REPORT 2021 2021 DRAFT 8/30/22 8:58 AM p21 & 23. Audited FS schedules.xlsx 3 C O A STA L V I L L A GES R EGI O N F U N D A N D SU B SI D I A R I ES

FINANCIAL DISCLOSURES

Trade accounts receivable, less allowance for doubtful accounts of $76,034 and $73,076 in 2021 and 2020, respectively 6,024,393 6,318,646

Property, plant, vessels, and equipment, net 67,368,828 74,319,614

2020

Total assets $ 306,373,956 288,421,370

CurrentAccountsliabilities:payable and accrued expenses

Consolidated Statements of Financial Position 31, 2021 and 2020 20 20

Other assets 1,388,752 486,574

Net assets, without donor restrictions 300,759,627 283,004,569

Consolidated Statements of Financial Position December 31, 2021 and 2020 ssets 20 21 20 20

Total current liabilities 5,614,329 5,414,754

Notes receivable, current portion, net 25,749 62,080

Trade accounts receivable, less allowance for doubtful accounts of $76,034 and $73,076 in 2021 and 2020, respectively 6,024,393 6,318,646

$ 78,653,728 47,572,359

Other assets 1,388,752 486,574

Total liabilities and net assets $ 306,373,956 288,421,370

Capital lease obligation, current portion 2,047 2,950

C O A STA L V I L L A GES R EGI O N F U N D A N D SU B SI D I A R I ES

Other investment 605,598

Capital lease obligation, net of current portion 2,047

Capital lease obligation, current portion 2,047 2,950

Other assets 1,388,752 486,574

Coastal Villages Region Fund & Subsidiaries

Investments in fishing rights 124,004,966 121,405,130

Total current liabilities 5,614,329 5,414,754

POLLOCK DRIVES CVRF FISH SALES 2021 SALES BY SPECIES ($) POLLOCK COD CRAB 65.09% 20.50%14.41%

CurrentAccountsliabilities:payable and accrued expenses $ 2,595,973 2,914,510

Capital lease obligation, net of current portion 2,047

Notes receivable – CQS bridge loan 7,227,500

Assets

Notes receivable – CQSs 7,444,325 7,227,500

LiabilitiesAssetsandNet

3

CurrentCashassets:andcash equivalents

Net assets, without donor restrictions 300,759,627 283,004,569

Total current assets 89,462,886 69,504,541

Deposits 19,414 22,196

Restricted certificates of deposit 235,000 235,000

Consolidated Statements of Financial Position 31,

December

Notes receivable, excluding current portion 27,584 253,534

Notes receivable, current portion, net 25,749 62,080

December

2021 and 2020 A ssets 20 21 20 20

Restricted certificates of deposit 235,000 235,000

Restricted certificates of deposit 235,000 235,000

Notes receivable, excluding current portion 27,584 253,534

Investments in fishing rights 124,004,966 121,405,130

Loss on asset impairment (61,642) (61,642)

Seafood sales

Change in net assets $ 36,921,559 (19,166,501) 17,755,058 28,176,541 (18,792,840) 9,383,701

Gain (loss) on disposal of assets 334,900 334,900 1,500 1,500

2021

Programs and projects 13,651,249 13,651,249 13,799,093 13,799,093

Property management 1,019,474 1,019,474 934,711 934,711 69,951,712 22,411,506 92,363,218 62,272,568 22,840,945 85,113,513

Expenses and losses:

Expenses and Losses:TotalRevenue

Gain (loss) on disposal of assets 334,900 334,900 1,500 1,500

Net assets at end of the year, without donor restrictions 300,759,627 $ 283,004,569

Property management 1,019,474 1,019,474 934,711 934,711 69,951,712 22,411,506 92,363,218 62,272,568 22,840,945 85,113,513

8/30/22 9:15 AM p21 & 23. Audited FS schedules.xlsx 4 2 02 1 2 02 0 Programs Programs B e ri ng S e a and pro e c t s B e ri ng S e a and pro e c t s f s hi ng ge ne ral and f s hi ng ge ne ral and ope rat i ons admi ni s t rat i ve Tot al ope rat i ons admi ni s t rat i ve Tot al

Rent 161,756 161,756 204,568 204,568

Loss on asset impairment (61,642) (61,642)

BERING OPERATIONSFISHINGSEA

Programs and projects 13,651,249 13,651,249 13,799,093 13,799,093

Programs

General and administrative 897,326 7,740,783 8,638,109 572,591 8,107,141 8,679,732

Community service centers 957,388 957,388 683,338 683,338

Revenue

Residential construction 291,909 291,909

8/30/22 9:15 AM p21 & 23. Audited FS schedules.xlsx 4 2 02 1 2 02 0

DRAFT

Cost of seafood sales 37,561,048 37,561,048 31,099,499 31,099,499

Vessel management income 855,737 855,737

Other 961,582 11,835 973,417 179,077 712,936 892,013 104,028,607 3,245,005 107,273,612 87,597,349 4,048,105 91,645,454

Net assets at end of the year, without donor restrictions 300,759,627 $ 283,004,569

Loss on asset impairment (61,642) (61,642)

Expenses and losses:

Equity in income of equity method investee 2,844,664 2,844,664 2,851,760 2,851,760

Seafood sales $ 100,363,400 100,363,400 86,397,170 86,397,170

Consolidated Statements of Activities (Income Statement)

Other 961,582 11,835 973,417 179,077 712,936 892,013 104,028,607 3,245,005 107,273,612 87,597,349 4,048,105 91,645,454

Net assets at beginning of the year, without donor restrictions 283,004,569 273,620,868

YEARS ENDED DECEMBER 31, 2021 AND 2020

Fishing operating expenses 31,493,338 31,493,338 30,600,478 30,600,478

Vessel management income 855,737 855,737

Tendering income 403,200 403,200

Fishing operating expenses 31,493,338 31,493,338 30,600,478 30,600,478

Interest income 6,200 364,190 370,390 17,292 17,292

Seafood sales

Programs

Tendering income 403,200 403,200

Equity in income of equity method investee 2,844,664 2,844,664 2,851,760 2,851,760

$ 100,363,400 100,363,400 86,397,170 86,397,170

Payroll tax credit 369,292 47,922 417,214

General and administrative 897,326 7,740,783 8,638,109 572,591 8,107,141 8,679,732

Interest income 6,200 364,190 370,390 17,292 17,292

Payroll tax credit 369,292 47,922 417,214

$ 100,363,400 100,363,400 86,397,170 86,397,170

General and administrative 897,326 7,740,783 8,638,109 572,591 8,107,141 8,679,732

Change in net assets before equity in income of equity method investee 34,076,895 (19,166,501) 14,910,394 25,324,781 (18,792,840) 6,531,941

Quota and profit share income 795,938 1,410,005 2,205,943 1,021,102 2,428,471 3,449,573

DRAFT

Vessel management income 855,737 855,737

Community service centers 957,388 957,388 683,338 683,338

Net assets at end of the year, without donor restrictions 300,759,627 $ 283,004,569

Net assets at beginning of the year, without donor restrictions 283,004,569 273,620,868

Equity in income of equity method investee 2,844,664 2,844,664 2,851,760 2,851,760

Fishing operating expenses 31,493,338 31,493,338 30,600,478 30,600,478

Tendering income 403,200 403,200

Expenses and losses:

Quota and profit share income 795,938 1,410,005 2,205,943 1,021,102 2,428,471 3,449,573

Expenses and Losses FINANCIAL DISCLOSURES

Cost of seafood sales 37,561,048 37,561,048 31,099,499 31,099,499

Change in net assets before equity in income of equity method investee 34,076,895 (19,166,501) 14,910,394 25,324,781 (18,792,840) 6,531,941

Gain (loss) on disposal of assets 334,900 334,900 1,500 1,500

Payroll tax credit 369,292 47,922 417,214

Rent 161,756 161,756 204,568 204,568

Rent 161,756 161,756 204,568 204,568

COASTAL VILLAGES REGION FUND | ANNUAL REPORT 2021 | 23 DRAFT 8/30/22 9:15 AM p21 & 23. Audited FS schedules.xlsx 4 2 02 1 2 02 0 Programs Programs B e ri ng S e a and proj e c t s B e ri ng S e a and proj e c t s f i s hi ng ge ne ral and f i s hi ng ge ne ral and ope rat i ons admi ni s t rat i ve Tot a ope rat i ons admi ni s t rat ve Tot al

Other 961,582 11,835 973,417 179,077 712,936 892,013 104,028,607 3,245,005 107,273,612 87,597,349 4,048,105 91,645,454

BERING OPERATIONSFISHINGSEAADMINISTRATIVE&PROGRAMSPROJECTS,GENERAL& ADMINISTRATIVE&PROGRAMSPROJECTS,GENERAL&TOTAL TOTAL 2020 and Gains (losses): and Gains (losses)

Coastal Villages Region Fund & Subsidiaries

Interest income 6,200 364,190 370,390 17,292 17,292

Change in net assets $ 36,921,559 (19,166,501) 17,755,058 28,176,541 (18,792,840) 9,383,701

Quota and profit share income 795,938 1,410,005 2,205,943 1,021,102 2,428,471 3,449,573

Property management 1,019,474 1,019,474 934,711 934,711 69,951,712 22,411,506 92,363,218 62,272,568 22,840,945 85,113,513

Residential construction 291,909 291,909

Net assets at beginning of the year, without donor restrictions 283,004,569 273,620,868

B e ri ng S e a and proj e c t s B e ri ng S e a and proj e c t s f i s hi ng ge ne ral and f i s hi ng ge ne ral and ope rat i ons admi ni s t rat i ve Tot al ope rat i ons admi ni s t rat ve Tot al

Residential construction 291,909 291,909

Cost of seafood sales 37,561,048 37,561,048 31,099,499 31,099,499 Programs and projects 13,651,249 13,651,249 13,799,093 13,799,093

Community service centers 957,388 957,388 683,338 683,338

Change in net assets $ 36,921,559 (19,166,501) 17,755,058 28,176,541 (18,792,840) 9,383,701

Total

Change in net assets before equity in income of equity method investee 34,076,895 (19,166,501) 14,910,394 25,324,781 (18,792,840) 6,531,941

JERRY IVON KONGIGANAK

Board of Directors

JOHN SAMUEL SECRETARY PLATINUM

CVRF’s Board of Directors is responsible for governing CVRF’s affairs. The Board makes broad policy decisions and sets organizational goals that the staff carry out. The primary functions of the Board are to act in the best interests of the company and the Coastal Villages region. These functions enable the organization to achieve its purpose of providing the means for development by creating sensible, tangible, long-term solutions for the residents of CVRF’s 20 member communities. The Board makes decisions that balance growth in commercial fishing and sustainable development in CVRF communities.

SHAPING THE FUTURE

RICHARD JUNG CHAIRMAN NAPAKIAK

GEORGE CHUCKWUK EXEC COMMITTEE KIPNUK

JOHN W. MATTHEW QUINHAGAK

COMMUNITY ELECTIONS

ERIC OLSON, SR. HOOPER BAY

24 | COASTAL VILLAGES REGION FUND | ANNUAL REPORT 2021

CVRF would like to thank all community leaders who have served on the company’s Board of Directors past and present. CVRF is grateful for their many contributions while serving on the Board.

ARCHITECTS OF THE DREAM

ALBERT WILLIAMS MEKORYUK

CARLIE BEEBE EXEC COMMITTEE EEK

2021 ANNUAL REPORT

ALMA KANRILAK TUNUNAK

THE ROLE AND FUNCTIONS OF THE BOARD

EDWARD KINEGAK CHEFORNAK

EVAN S. EVAN EXEC COMMITTEE GOODNEWS BAY

The Board of Directors plays an important role at CVRF, serving as the governing body that steers the vision, mission, values, and policies of the organization. Most importantly, members of the Board provide a critical link between community members and CVRF.

CVRF’s Board of Directors is made up of democratically elected representatives from each of our 20 member communities. Board members serve six-year terms, and elections for one third of the board take place every two years. All Board members must be permanently domiciled residents of the communities they are representing, meaning that the Board member must have permanent residency and plan to remain a resident. Elections are run under a standardized democratic process designed to give fair voice to all residents of each community.

CVRF would also like to acknowledge the contributions that sitting Board members made in 2021. Board members provided valuable guidance and oversight that helped move CVRF closer to achieving some of its long-term goals. CVRF staff thank the Board for advocating for their communities throughout the region in 2021.

Seven local elections took place in 2021. Five board members were reelected to their positions: Edward Kinegak of Chefornak, Alfred Ulroan of Chevak, Albert Williams of Mekoryuk, Richard Jung of Napakiak, and Larson Hunter of Scammon Bay. We also welcomed two new members: Wayne Schouten of Goodnews Bay and Isadore Anthony of Nightmute. In December, the Board selected Larson Hunter to be the new Chairman of the Board.

2021 Board of Directors

The Board accomplishes this oversight by staying up to date about CVRF’s activities and communicating appropriate information to residents. In 2021, the Board of Directors did not host any meetings in the communities, primarily due to ongoing COVID-19 concerns.

LARSON HUNTER VICE CHAIRMAN SCAMMON BAY

ALFRED ULROAN CHEVAK

STEPHEN MAXIE, JR. EXEC COMMITTEE NAPASKIAK

CLEMENT P. GEORGE NIGHTMUTE

NICHOLAI STEVEN OSCARVILLE

CLARENCE DULL TOKSOOK BAY

GABRIEL OLICK TREASURER TUNTUTULIAK

XAVIER JOHN NEWTOK

ANDREW KIUNYUA KWIGILLINGOK

2018 - 2023

CLARENCE DULL TOKSOOK BAY 2018 - 2023

RICHARD JUNG VICE CHAIRMAN NAPAKIAK

ALFRED ULROAN CHEVAK 2022 - 2027

2022 - 2027

2020 - 2025

NICHOLAI STEVEN OSCARVILLE - 2023

ERIC OLSON, SR. HOOPER BAY 2019 - 2023

2020 - 2025

2020 - 2025

2022 - 2027

2018

2020

VACANT NAPASKIAK 2020 - 2025

GABRIEL OLICK TREASURER TUNTUTULIAK - 2025

EDWARD KINEGAK CHEFORNAK 2022 - 2027

JOHN W. MATTHEW QUINHAGAK

COASTAL VILLAGES REGION FUND | ANNUAL REPORT 2021 | 25

ANDREW KIUNYA KWIGILLINGOK

2020 - 2025

2022 - 2027

2020 - 2025

2022 Board of Directors

2022 - 2027

2018 - 2023

2021 ANNUAL REPORT

ALMA KANRILAK TUNUNAK

LARSON HUNTER CHAIRMAN SCAMMON BAY

JOHN SAMUEL SECRETARY PLATINUM

2018

2020 - 2025

WAYNE SCHOUTEN GOODNEWS BAY

ISADORE ANTHONY NIGHTMUTE

XAVIER JOHN NEWTOK

CARLIE BEEBE EXECUTIVE COMMITTEE EEK

GEORGE CHUCKWUK EXECUTIVE COMMITTEE KIPNUK

JERRY IVON KONGIGANAK - 2023

ALBERT WILLIAMS EXECUTIVE COMMITTEE MEKORYUK

We must continue to set the bar high, to reach for opportunities that increase our Bering Sea allocations and, in turn, increase the benefits and opportunities we provide for our residents and communities.

BOARD OF DIRECTORS

LARSON HUNTER, CHAIRMAN COASTAL VILLAGES REGION FUND

I would like first to acknowledge my predecessor, RICHARD JUNG, former Chairman of the CVRF Board of Directors. He was the longest serving chairman in the history of the company. His dedication and leadership helped guide us into new, uncharted waters during challenging times, and his continued service on the Board will undoubtedly help guide us moving forward. The community of Napakiak and the Board are well served with his leadership.

A Message from the Chairman

At the close of every year, we reflect on the successes and challenges faced, and we plan for the future. These past years have proven challenging for CVRF, with the ongoing COVID pandemic, the uncertainty in the Bering Sea, and changes in management and staff. We have worked through these difficulties thanks to our dedicated staff, who take pride in the work we do. Our executive team has decades of experience and knowledge, many with ties to our region. Those ties offer a window into our people, our way of life, and the challenges we face now. We are here to serve our region’s residents and continue to provide benefits and opportunity while expanding our Bering Sea ownership so we can create more opportunities for future generations.

26 | COASTAL VILLAGES REGION FUND | ANNUAL REPORT 2021

LARSON HUNTER, CHAIRMAN COASTAL VILLAGES REGION FUND

CVRF has much to be proud of for 2021, including new investments in crab and pollock and the success of our Honda Warranty Repair Program, which services Honda ATVs and snowmachines at three CVRF shops in our region, but we cannot become complacent with our successes. We must continue to set the bar high, to reach for opportunities that increase our Bering Sea allocations and, in turn, increase the benefits and opportunities we provide our residents and communities.

CVRF is always open to dialogue and collaboration with anyone who wants to talk. We all have needs and wants, we all have concerns, and we all have a voice. If you have anything you would like to share with us, please reach out to your local board member or call the Anchorage office. We are listening. Thank you all and have a wonderful year!

ERIC DEAKIN, CEO COASTAL VILLAGES REGION FUND

Thanks to our dedicated and professional team members, 2021 was one of our best years ever. And that success in our business operations led to success in our delivery of benefits to the community.

Facebook: facebook.com/CoastalVillagesRegionFund Twitter: twitter.com/CoastalVillages Instagram: instagram.com/CoastalVillages YouTube: youtube.com/coastalvillages1 LinkedIn: linkedin.com/company/coastal-villages-region-fund ANCHORAGE OFFICE 711 H St., Suite 200 Anchorage, AK 99501 1-888-795-5151907-278-5151 Residency Verification Hotline: 1-844-357-6565 People Propel® Hotline: 1-888-983-7155

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