MTNT Shareholder Newsletter
KwnJa’ is pronounced “Kwinja” and means “News” in the upper Kuskokwim Athabascan dialect.
2022 SPRING MESSAGE FROM THE CEO
Dear MTNT Shareholders:
I am pleased to announce that MTNT was able to directly distribute more than 94% of all CARES Act monies received to eligible MTNT Shareholders, resulting in $638,822 in CARES Act funds going directly to eligible MTNT Shareholders.
As you may recall, these funds were made available to Alaska Native Corporations (ANCs) through the Coronavirus Relief Fund Tribal Set-aside within Title V of the CARES Act after an uphill battle that went all the way to the U.S. Supreme Court. This was a victory for Alaska Native Corporations and our people.
The victory came with challenges. ANCs received the funds during the last half of 2021 with a prescribed deadline of December 31, 2021, to allocate and distribute the funds in accordance with the U.S. Treasury guidelines or return the remaining funds.
The CARES Act funds were allowed to reimburse MTNT’s expenses not included in the organization’s 2020 budget that were incurred due to the public health emergency. Yet, MTNT’s priority was to provide relief directly to eligible Shareholders who were negatively impacted by COVID-19.
Once MTNT received the funding, the Board of Directors unanimously approved the MTNT COVID Relief Fund Program. The Program provided eligible MTNT Shareholders with financial assistance to reimburse losses or necessary expenses incurred due to the pandemic.
While MTNT was not immune to the effects of COVID-19, MTNT was steadfast in maximizing resources and limiting costs throughout this pandemic. The team’s commitment and efforts paid off. The CARES Act funds received were expended in accordance with the U.S. Treasury guidelines and by the December 31 deadline, with a grand majority of the $677,675 in CARES Act funds received providing direct relief to MTNT Shareholders. The remaining amount was expended on reimbursable operational and job-related expenses due to COVID-19, resulting in less than six percent of the funds being utilized to reimburse MTNT.
While administering the CARES Act funds was a priority for MTNT in 2021, day-to-day business operations continued and MTNT heralded many accomplishments throughout the year. By employing a sustainable growth strategy with a dedicated and specialized team, MTNT expanded its operations overseas through its niche in secured construction services, grew its number of awarded contracts, increased business development efforts, completed projects closer to home and more.
MTNT also continued to enhance its cybersecurity posture by migrating its file management to the Cloud and upgraded its architecture according to government security requirements. All necessary endeavors for MTNT to continue to securely expand and conduct business in person, remotely, throughout the country and across borders.
As business operations grow, so does MTNT’s team and the need to hire additional personnel to fill specialized roles. As a result, MTNT is at capacity in its current Anchorage office. Therefore, will be moving to a new office space in Anchorage. Effective May 1, MTNT’s new address will be 400 W. Tudor Road, Building A, Suite A-400, Anchorage, Alaska 99503.
Finally, I am happy to report that MTNT is planning to hold the 2022 Annual Meeting in person in McGrath on July 23! We will continue to monitor the pandemic and observe the advice of local and national authorities. Yet, until further notice, we are anxiously preparing to meet MTNT Shareholders and their families on July 23 at the McGrath Native Village Council, Community Center for the 2022 Annual Meeting of Shareholders.
Please remember to keep your address on record up to date with MTNT to receive the latest MTNT news including the 2021 Annual Report and Proxy Packet to be mailed this summer.
Until we meet again, may you all stay healthy and strong.
Chief Executive Officer
MTNT Management Services, LLC
1500 W. 33rd Ave., Ste. 100
Anchorage, AK 99503
***New Address Effective June 1, 2022***
400 W. Tudor Road, Suite A-400
Anchorage, AK 99503