Coastal Villages Region Fund

What it reported doing in 2024

Inshore and nearshore program description (program #2): in prior years cvrf operated six halibut plants, one salmon plant, a salmon buying station and supporting tenders, tugs, and barges. These operations were suspended in 2016 due to high subsidy requirements and the desire to focus on more geographically-equitable economic development programs across the entire service area. This program is being phased out.youth programs (program #4): youth programs - the coastal villages youth programs promote leadership, personal development, and citizenship among the youth in the communities ages 13 to 24. Through various activities and achievements, the youth learn to accept responsibility, gain leadership skills, through participation in community activities. Youth ages 14-19 also have the opportunity to work during the summer via cvrf's youth-to-work program. Ciuneq is a program for high achieving high school aged youth to create a pathway for future education and career success through exposure to the opportunities available to them.social investments (program #5): social investments - is comprised of various social programs to improve the welfare of residents in the service area.tax assistance - each year, cvrf funds the volunteer income tax assistance program (vita), which is provided by the Alaska small business development center (abdc) and the university of Alaska anchorage. Through this program, students in the accounting field and business professors are sent to all cvrf communities to provide tax preparation assistance at no cost to residents.pollock provides(r) heating oil program - heating oil is provided to community members during the winter and spring months to offset increasingly high fuel costs. Pollock provides(r) is a company trademark that encompasses many of cvrf's community programs and services.elder assistance program - this program assists elders in cvrf's member communities with the high cost of living by providing funding for expenses such as heating oil, electricity, water and sewer, gasoline, motor oil, and groceries.funeral assistance - this program is designed to provide community members with assistance in funeral and burial costs in the communities.construction - this program is designed to provide community assistance for affordable housing and improvement of critical infrastructure. The program is working to develop community capacity through hiring and training qualified personnel to perform construction activities, to provide down-paymentassistance, to provide consultation and coordination with housing lenders, bia and other low-income housing program providers. Affordable housing units will be sold to qualifying community members with housing sales proceeds rollingback into the program. The program will also conduct construction and maintenance of other critical infrastructure, such as boardwalks, community centers, and other facilities within the communities.4-site (program #6): the 4-site program was established in 1993. It is aimed at providing long-term economic and social development in our member communities by providing scholarships, internships, training, and employment.cdq contract & quota management (program #8): cdq contract and quota management cvrf is increasingly leasing its cdq quota to wholly-owned subsidiaries and has acquired significant additional quota (noncdq) in the major bering sea fisheries. The quota management team monitors the harvest of all cdq allocations throughout the year, and coordinates with fishing vessels and/or harvesting partners to maximize the harvest of cvrf's cdq quota.

Financial Efficiency

• Mission deployment rate: 100%; rating input score 100
• Program expense ratio: 83.7%; rating input score 84
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
• Pay-setting controls: 4 of 6 controls in place; rating input score 67
  • Compensation committee: Pass
  • Independent consultant: Pass
  • Other Form 990s reviewed: Missing
  • Written employment contract: Missing
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• Foreign activity oversight: Limited
• Grant itemization coverage: 99.7%; rating input score 100; 43rd percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 30%; rating input score 30; 10th percentile among comparable filings
• Governance controls: 7 of 9 controls in place; rating input score 78
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Fail
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • Other executive compensation review process: Pass
  • Form 990 shared with the board: Fail
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: -1.7%; rating input score 20; 20th percentile among comparable filings
• Total-asset coverage ratio: 6.11; rating input score 87; 87th percentile among comparable filings
• Liabilities to assets ratio: 0.16; rating input score 74; 74th percentile among comparable filings
• Officer compensation ratio: 9.8%; rating input score 3; 3rd percentile among comparable filings

Growth

• Program expense growth: 11.3% per year; rating input score 100; 79th percentile among comparable filings
• Revenue growth: -4.4% per year; rating input score 0; 1st percentile among comparable filings
• Asset growth: 0.4% per year; rating input score 100; 8th percentile among comparable filings