Information on Alaska Native Corporations
RCED-83-173: Published: Aug 16, 1983. Publicly Released: Aug 16, 1983.
- Full Report:
In response to a congressional request, GAO mailed a questionnaire to all of the Alaska Native corporations concerning: (1) their financial viability; (2) the cost of administrative appeals and litigation and their impact on the corporations; (3) whether the 1991 date after which the corporate stock can be sold to outsiders should be changed; and (4) whether outside groups are negatively affecting the corporation's management.
GAO received a response from 142 out of 182 corporations to which it sent the questionnaire. During their 1982 fiscal year, 63 corporations reported a profit and 44 reported a loss. In addition, 64 corporations reported that they had been involved in administrative appeals on litigation concerning the Alaska Native Claims Settlement Act. Furthermore, 46 corporations said that the administrative appeals or litigation had a moderate or great adverse impact on their economic development, 9 said that there was some adverse impact, and 9 said that there was little or no adverse impact. GAO reported that 2 corporations said that the date after which stock in Native corporations could be sold to outsiders should be sooner than 1991, 24 said that no change was needed, 42 said that the date should be extended, while 62 said that the stock sales should never be allowed. Finally, 35 of the corporations said that the extent to which nonshareholder activities were negatively affecting their corporate management was moderate or great, 27 said that their management was affected to some extent, and 74 said that they were affected to little or no extent.