We answer to our shareholders.
Period.
Not to outside investors. Not to Washington. Not to anyone who was not born into this community or entrusted with its future. Every decision this corporation makes is owed back to the people who own it.
Transparency is not a courtesy. It is the job.
Emmonak Corporation operates under the Alaska Native Claims Settlement Act and the laws of the State of Alaska. Our Board of Directors is elected by shareholders and serves at their direction. Our books are reviewed annually by Porter & Allison, CPAs. Director elections are open. Our reports to shareholders are made in full.
The Board conducts its business in executive session. Board minutes are corporate records held by the Corporate Secretary and are not distributed to shareholders — this is how the Board protects sensitive commercial, contract, personnel, and legal matters that the corporation owes to its shareholders to handle with discretion. The Board reports to shareholders through the annual shareholder meeting, the annual report, and independently reviewed financial statements.
We will tell shareholders the truth about the corporation's finances — in good years and lean ones. We will not hide a hard number behind a comfortable word. The wealth of this corporation belongs to its people, and so does an honest account of it.
“If we cannot defend a decision to the shareholders who live here, we should not be making it.”
The cadence of accountability
Monthly Board Meetings
The Board convenes monthly in executive session to direct operations, review financials, and act on shareholder matters. Board minutes are corporate records and are not distributed to shareholders.
Annual Shareholder Meeting
Held each year with proxy voting, director elections, and a full report to shareholders. This is the formal channel through which the Board reports to the ownership.
Independent CPA Review
Financial statements are reviewed annually by Porter & Allison, CPAs, and made available to shareholders of record through the annual report. Under Alaska Statute AS 10.06.433, corporations with fewer than 500 shareholders may obtain an independent CPA review in lieu of a full audit.
The record, available to shareholders
Shareholders of record may request the corporation's governing documents and the annual report. Verify your identity through the shareholder portal to access the full archive.
A note on board minutes. Board of Directors meetings are conducted in executive session. Board minutes are corporate records held by the Corporate Secretary and are not distributed to shareholders. The Board's formal report to shareholders is delivered at the annual shareholder meeting and in the annual report.