Seacoast Trust 2024 Annual Report
Dear Funders and Partners,
Reflecting on the Seacoast Trust’s transformative progress in 2024, I am reminded of the teachings of the Aas Kwáan -Tree People. They teach us so much; we are all connected through our root systems; it is through our shared connections and roots that we are stronger and more resilient because we hold each other up, especially in a storm and in times of change.
The past year has underscored the power of collaboration and the strength of our communities. The growth of the Sustainable Southeast Partnership over the past 12 years has resulted in a strong collective network that bridges communities and drives positive systems change throughout our region. People who hadn’t previously worked together have found a new way of working based on building trust and relationships. The partnership supports organizations in advocacy and storytelling, skill building, capacity development, focus area expertise, and financial support. These resources combined are creating success in projects and programs on the ground in our communities.
Highlights from the SSP in 2024 include:
Our Chilkat Valley Community Catalyst with the Jilkaat Kwaan Heritage Center supported food sovereignty initiatives that supported community gardens, seaweed and ooligan harvest, and the testing of 23 community pressure cooker gauges for safety. The community gardens provided over 120 pounds of produce with 20 pounds saved for seed.
Letter from the Ex
xecutive Director
The Klawock Indigenous Stewards Forest Partnership restored and enhanced salmon habitat through restoration site monitoring, culvert assessments, and in-stream restoration planning. Over 270 acres of second growth forest was thinned for deer and wildlife passage and weather monitoring stations were installed to manage and mitigate landslides.
Our Regional Energy Catalyst supported Sitka’s renewable energy transition by connecting households with electrification resources. Additionally, they partnered with Sitka’s Electric Department and the Sitka Community Catalyst to pilot an internship program putting local youth on a career pathway to fill critical energy jobs.
Spruce Root has been supporting a sister network for Northern Alaska regions called the South Coast Partnership, which is being stood up to model the success of the SSP.
We designed a Possible futures for Southeast Alaska document. This publication offers our region an active way to practice "Kuxhadahaan Adaayoo.analgein" (Stop, observe, examine, act).
The document includes four distinct, useful stories/scenarios about what the future of this place can look like, allowing us to collectively define the opportunities and the threats, which inform the decisions we make now.
Spruce Root is positioned to establish an Energy Bank for Southeast Alaska with over $20 million in seed capital through the Biden Administration’s Greenhouse Gas Reduction Fund, and Spruce Root’s CDFI Lending activity continued to grow, deploying over $4 million in small business loans to date.
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These are just a few of the many positive impacts from the work on the ground in 2024. More than ever, we recognize the critical need for the Seacoast Trust, not for our organization’s sustainability, but for the long-term security of our entire region. We had the foresight to understand that we could not rely solely on federal funding to support our collective work. Now, we are seeing the benefits of that strategy unfold given the current reality we are facing. With drastic changes through executive orders, and federal funding freezes, the work that matters most to the people in this place is under threat. We are receiving urgent requests from our partners to fill funding gaps for programs like stream restoration that are essential to restoring healthy salmon runs which not only creates meaningful jobs, but strengthens resilience in our communities and environment.
Reaching our goal of $100 million is imperative. Others recognize our need as well, because when we successfully implement reliable funding models, the benefits extend far beyond our region, and now the SSP is becoming a blueprint for communities around the world.
Spruce Root has positioned itself to be a bio-regional funding hub, where capital can flow to the work on the ground in a more effective way for both funders and recipients. Since we are also from this place, living and working in relationship with the people and environment, we invest in the work; our success is bound up in the success of our communities and our region. The value of our work is not only reflected in the partnerships we sustain but also in the tangible outcomes we achieve.
Letter from the Ex
xecutive Director
One example of our intentional collaboration is with the U.S. Department of Agriculture Forest Service to support community engagement for the Tongass National Forest Plan Revision. Building on previous success, we have helped facilitate meaningful dialogue between the Forest Service and the communities that depend on these lands. Through community-designed meetings, training for Forest Service staff, and more than 25 in-person workshops, we have created space for local voices to shape the future of the largest temperate rainforest in the world. The significance of this work was recognized with a Regional Forester’s Award for Partnership and Public Engagement, reinforcing the importance of integrating Indigenous values and community priorities into long-term forest management.
We extend our gratitude to our partners, whose generosity and shared vision have made these accomplishments possible. Together, we are creating a future where Indigenous communities thrive, local economies prosper, and our natural resources remain abundant, all in balance and harmony.
Gunalchéesh
(Without you this would not be possible)
Gah Kith Tin Alana Peterson
Executive Director
Spruce Root
Ka Kugesh
Leilani Wilson Walk Chair
Chi’cut
Laird Jones
Letter from the Inve
Yaa sh kanda.ets’
Kevin O’Neal-Smith, Vice Chair
Gunnuk’ Anthony Mallott
'Wáahlaal Gíidaa
Barbara Blake
Tin’aa Kéet
Matthew Vander
estment Committee
Micah S. McNeil
Dear Partners and Supporters,
Gah Kith Tin
rpool
Alana Peterson, Ex Officio
The Seacoast Trust Investment Committee is honored to share our remarkable progress in 2024. Guided by the Indigenous values foundational to Southeast Alaska, we ensure that our investments uphold balance, self-determination, and respect for the land and its people.
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Watsdáa
Letter from the Invest
This past year marked the first full year of investment oversight by the Seacoast Trust Investment Committee in partnership with our advisors at AlTi Tiedemann Global. Throughout 2024, we focused on building systems to support the long-term sustainability of the Seacoast Trust. The Spruce Root Board of Directors reviewed, refined, and amended the Investment Policy Statement, establishing clear guidelines and principles to govern our investment decisions.
In the spring, we held our first in-person Investment Committee meeting after the Sustainable Southeast Partnership (SSP) Spring Retreat, deepening internal collaboration and fostering connections with the broader partnership. In the fall, Gunnuk Anthony Mallott and Ka Kugesh Leilani Wilson Walkush represented the Seacoast Trust on a panel at the Philanthropy Northwest Conference, where they shared our innovative model for sustainable growth and impact.
We are pleased to report that Seacoast Tr investments continued to grow in 2024. Si inception, the portfolio has outperformed benchmark, and all restricted capital rem the original contribution level. Through m performance and donor contributions, the market value grew from $23.1 million in 2 million by the end of 2024. A significant m this year was the Investment Committee’s recommendation to the Spruce Root Boar Directors for the first Seacoast Trust distr This distribution will contribute to suppo catalyst salaries and community priority p 2025. The SSP Steering Committee recom the funds are spent down so they reflect t interests and needs.
We are honored to be part of this transfor initiative, working together to secure the well-being of the communities of Southea
With a shared vision and commitment, w a path toward generational abundance roo wisdom and values of our Indigenous com
Gunalchéesh for your trust and support, Seacoast Trust Investment Committee
tment Committee
ust ince its
d its ains above market
e portfolio’s 2023 to $27.5 milestone s rd of ribution. orting SSP’s projects in mmends how he network’s rmative long-term ast Alaska. e are forging oted in the mmunities.
The Seacoas
Grounded in Indigenous values and self-determina shift in finance that prioritizes both people and p resources directly to local communities, the Sea stewardship and economic p
With investments guided by an all-Indigenous committee of financial experts and community leaders, the Seacoast Trust is reshaping traditional investment models. Annual earnings fuel initiatives that recognize the deep connection between lands, waters, and the well-being of those who call Southeast Alaska home. This funding mechanism supports communities, uplifts traditional stewardship, and creates lasting, systemic change.
ation, the Seacoast Trust represents a long-overdue places in Southeast Alaska. By shifting power and acoast Trust supports a future where ecological prosperity go hand in hand.
In perpetuity, the Seacoast Trust will break down barriers historically limiting Indigenous communities' ability to shape their own futures. By ensuring regenerative economic opportunities and restorative environmental stewardship, we are building a legacy of abundance for generations to come.
The La
Empowering In practices that r Advancing eco opportunities f Preserving one Tongass Natio Building comm for regions gra development. Fostering reco empowerment Demonstrating can drive envir
Respect community voices and uphold Indigenous governance and leadership
asting Impact of the Seacoast Trust
ndigenous-led stewardship – Supporting forest management reflect traditional knowledge and sustainable resource use. onomic sovereignty – Creating sustainable employment for Native communities.
e of the most crucial carbon storage solutions - Protecting the nal Forest in the fight against climate change. mon ground – Reducing conflicts and offering a replicable model appling with the balance between conservation and economic nciliation – Providing a framework for healing through and self-determined prosperity.
g what’s possible – Showcasing how community-led initiatives ronmental and economic prosperity.
Guiding Principles
Envision Balance Collaborate
Integrity
economic, social, and environmental well-being
the next 100 years by planning with the next generation with empathy, generosity and purpose of all knowledge systems, including those anchored in Indigenous history, traditions and stewardship
Indigenous Roots, Indigenous Futur
The Seacoast Trust was stood up through a challenge from Sealaska, which urged funders to match its $10 million pledge. The Nature Conservancy answered with an $8 million contribution. This groundbreaking partnership between an Alaska Native corporation and the world’s largest conservation nonprofit has since attracted additional support from organizations and individuals, including the Rasmuson Foundation, Edgerton Foundation, Home Planet Fund, Spruce Root, the William and Flora Hewlett Foundation, Wilburforce Foundation, Chorus Foundation, and numerous individual donors. In 2024, Spruce Root was honored to be among several Native Community Development Financial Institutions (CDFIs) to receive a generous gift from MacKenzie Scott’s philanthropic organization, Yield Giving. Building on our commitment to longterm sustainability and reciprocity, Spruce Root dedicated a portion of this gift to the Seacoast Trust, reinforcing our mission to ensuring this work continues for generations to come.
As of December 2024, the Seacoast Trust’s market value $50 million, bringing us halfway toward our ultimate go provide long-term support for the estimated $3.2 millio Partnership. A fully-funded Seacoast Trust would provi
Native Forest Partnerships
e was $27.5 million. Our immediate target is to reach oal of $100 million. Achieving our ultimate goal will n annual budget of the Sustainable Southeast de all Southeast Alaska communities with:
Indigenous Guardians programs
Youth leadership opportunities
Food sovereignty initiatives
Strong, local, regenerative economies
The Seacoast Trust is showing Alaska — and the community development can look like: A mutual co hopes and dreams for the future amid the life-sustain than ever, call for o
Maximized climate mitigation world — what localized investment models and ommitment to Indigenous communities and their ning health of the lands and waters that now, more our shared efforts.
Reduced energy prices & lower carbon footprints
“Our
world needs examples of w one that isn’t embedded in a con term quarterly profits. The Seaco a modern take on Indigenous wis How to live and thrive from a p
Gah Kith Tin Alana Peterson, S
what a new reality can look like, nsumerism mentality and shortast Trust is demonstrating what sdom and care can teach us all; place of wooch.yax - balance.”
Spruce Root Executive Director
Program and Impact Highlights
Capacity Building and Collaboration
The Sustainable Southeast Partnership (SSP) provided $587,000 to partner Tribes and organizations hosting SSP catalysts and $90,000 in direct project support, empowering communities and fostering regional collaboration.
The SSP’s 2024 Spring Retreat in Sh’eetka Kwaan (Sitka) brought together 150 partners representing over 70 entities to deepen relationships and build cultural, ecological, and economic prosperity.
The SSP's 2024 Fall Retreat in Kéexʼ Kwaan (Kake) brought together regional and community catalysts for annual work planning, discussions with Organized Village of Kake President Joel Jackson, and learning about the clam gardens project, storytelling, and community engagement.
The SSP communications team launched its first-ever annual publication, Woven: Peoples and Place, which showcases storytellers, the transformative impact of our work, and the strength of our interconnected communities.
Indigenous Stewardship and Conservation
Native Forest Partnerships in Kake, Prince of Wales, and Hoonah employed 15 locals to complete stewardship work. Collectively, they restored thousands of feet of salmon habitat and hundreds of acres of younggrowth forest and maintained access to traditional harvesting areas.
Tlingit & Haida’s program the Alaska Youth Stewards, improved local trails and forests with the work of 19 crew members in Angoon, Kake, Hoonah, and on Prince of Wales Island. Collectively, they maintained and constructed 22 miles of local trails, planted over 500 trees and shrubs, and hauled more than 5,000 pounds of trash from local beaches and forests.
Economic
Development and Workforce Opportunities
More than 60 youth gained financial wellness, work readiness, and career coaching through programs such as the Alaska Youth Stewards, Sealaska’s internship program, Tlingit & Haida’s Youth Employment Services program, and Sealaska Heritage Institute’s (SHI) summer career programs.
SSP worked with regional and community catalysts to advance economic development projects in housing, energy, childcare, workforce development, mariculture, healing, and regenerative tourism.
Forest Sustainability and Climate Resilience
Spruce Root partnered with the Forest Service to design and implement community engagement for the Tongass National Forest Plan Revision, a land management plan that will guide the Tongass for the next 15-20 years.
Renewable energy initiatives bolstered community sustainability by providing energy education and outreach to more than 500 K-12 students and 400 adults across Southeast. These efforts also supported biomass heating projects in Kake, Hoonah, Angoon and on Prince of Wales Island.
$100 million
$50 million
2026 Goal
$27.5 million
Long-term Go
Current Value
erformance
Performance Since Inception
Since its inception in May 2023, the Seacoast Trust portfolio has achieved an annualized return of +10.2%. Notably, the portfolio’s restricted capital is approximately 19% above principal value, providing flexibility for the annual distribution of the Seacoast Trust to the Sustainable Southeast Partnership (SSP).
The portfolio is now fully invested, and through a combination of market performance and new donor contributions, its market value has grown from $23.1 million at the end of 2023 to $27.5 million at the end of December 2024. The market value growth is a significant milestone in our journey toward achieving generational abundance for Southeast Alaska.
In 2024, the Seacoast Trust Investment Committee made its first distribution recommendation to the Spruce Root Board of Directors, ensuring support for the SSP in 2025. The Seacoast Trust's investment portfolio has demonstrated strong performance, thanks to the expertise of the Investment Committee and a wellexecuted investment strategy. A robust asset allocation and generous support from Sealaska, The Nature Conservancy, Rasmuson Foundation, Edgerton Foundation, and Home Planet Fund have positioned the Seacoast Trust to continue generating financial and impact-related returns.
Performance
he average gift size from the Seacoast Trust’s top five donors
$4.2 million; directly supporting the Seacoast Trust’s mission to advance Indigenous-led conservation, economic development, and climate action in Southeast Alaska.
Asset Allocation
(as of December 31, 2024)
Cash: $1,195,291 (4.4%)
Fixed Income: $5,125,549 (18.7%)
Credit/Hybrid: $2,932,457 (10.7%)
Equity: $17,437,596 (63.5%)
Private Equity: $781,917 (2.8%)
Real Assets: $1,031,084 (3.9%)
Miscellaneous: $3,022 (0.0%)
Total: $27,472,811 (100.0%)
Adjusted Total Return: $1,580,208
Gunalchéesh, Háw'aa,
T’oyaxsut ‘nüüsm
Annual report photos by: Addy Mallott, Bethany S Goodrich, Clara Mooney, Ian Johnson, Kaa Yahaayí Shkalneegi Muriel Reid, Lee House, Shaelene Grace Moler.