CEO Proposed Elders’ Trust Livestream Recap
CEO Proposed Elders’ Trust Livestream Recap
On the first day of voting ahead of the 2025 Annual Meeting of Shareholders, President & CEO McHugh Pierre hosted a virtual townhall event on MyGoldbelt to introduce the proposed Elders’ Trust. The Elders’ Trust is designed to benefit Alaska Native shareholders upon reaching the age of 60. Similar to the Tináa Distributions Trust, distributions to shareholders through the Elders’ Trust would be exempt from federal tax—but unlike the Tináa Distributions Trust—the Elders’ Trust would be allowed to invest its assets with the goal of generating revenue to fund shareholder benefits in perpetuity.
“The Board has attained such great results by focusing on our strategic plan. The proposed Elders’ Trust was born of that plan to strengthen our legacy and honor Goldbelt’s founders—the original shareholders--and to support all future Elders,” said McHugh to open the event. “Creating a trust insulates the benefit from any risk from operational uncertainty. It’s the best way to ensure Elders’ benefits are paid consistently in perpetuity.”
The Goldbelt Board of Directors encourages a yes vote.
Elders' Trust Overview: Goldbelt Board of Directors has carefully considered an endowed Elder benefit that would create a new legal entity to protect the endowment from business performance fluctuations. Similar to the Ancestral Trust, the Elder’s Trust would be set up like a permanent fund that could hold and invest contributions made by Goldbelt, Inc.
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Goldbelt, Inc. could begin paying an Elder benefit through the Tináa Distributions Trust while endowing a new trust.
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Trust rules: Must be voting shareholder, age 60 and older. Trustees will decide payment per unit or per person.
How do Our Trusts Compare?
|
Trust |
Purpose |
Can Invest? |
Who Benefits? |
|
Ancestral Trust |
Annual earnings distribution |
✅ Yes |
Original shareholders and their Lineal Descendants |
|
Tináa Trust |
Direct distributions, scholarships |
❌ No |
All shareholders |
|
Elders’ Trust (proposed) |
Distributions to Elders |
✅ Yes |
Voting shareholders 60+ |
Elder Demographics:
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Voting Shareholders 60 and older: 1435.
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Original Shareholders 60 and older: 982.
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Total shares for this group: 128,544.
We want to thank those who were able to attend today’s livestream event. The five $100 door prize winners are:
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Eleanor Robles
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Mary Uyanik
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Randall Johnson
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Elizabeth Murphy
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Camarae Turner
For more information on the proposed Elders’ Trust, the entire Proxy Statement, and more visit: MyGoldbelt Election Connection: https://mygoldbelt.com/Election/Overview
Click here for Elders’ Trust FAQs: MyGoldbelt - Proposed Elders' Trust
Watch the Recorded Livestream: MyGoldbelt - Live Stream - Special CEO Livestream on Proposed Elders' Trust