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Diary Entries

CARES Act Distribution Considerations

From my sideline observation of the Tribes v. Treasury lawsuit, it seems to me that the Plaintiffs are concerned about the Alaska Native Corporations being a for-profit corporation.

I served on the Sitnasuak Native Corporation board of directors when the proxy initiative was voted on by shareholders that created the SNC Trust for the benefit of the Trust’s Beneficiaries. The purpose of the SNC Trust states:

“The SNC Trust is an Alaska Native Claims Settlement Act (ANCSA) settlement trust with the purpose to promote the health, education and welfare of the Trust’s Beneficiaries; to preserve the heritage and culture of Alaskan Natives; and to promote the long-term economic stability of the Trust’s Beneficiaries through distributions and through the minimization of taxes.” https://snc.org/snc-trust/

Assignment of Payments to a Settlement Trust

https://www.irs.gov/site-index-search?search=alaska+native+trust&field_pup_historical_1=1&field_pup_historical=1

“The new law allows a Native Corporation to assign certain payments to a Settlement Trust without treating the payments as income for federal tax purposes.

The assignments must be in writing and the Native Corporations must not have received the payments prior to the assignment to the trust. The Settlement Trust must include the payments in its gross income in the taxable year received, for taxable years beginning in 2017.

If a Native Corporation assigns payments to a Settlement Trust, they are not allowed to deduct those same payments”.  

I could be looking at the legal issues in a plain view, but I understood that the Estate Trust created is for:

  • the benefit of individuals (beneficiaries) i.e. native shareholders
  • has a clear and legal definition of beneficiearies
  • designates the use of such funds
  • included in irs code currently

Is it silly for me to think that the CARES Act relief dollars could be distributed to those Alaska Native Settlement Trust accounts; which protects that the direct use estate trust funds is for the individual beneficiaries?

By Trudy Sobocienski

My blog, "Beyond Leadership" is a creative place to share my personal feelings and thoughts while working in leadership roles for a variety of Alaska Native organizations, both for and not-for profit entities.

An incredible leader and mentor of mine once asked while we were in Washington, DC, "What happened to you between the ages of 7-10 that motivated you to serve in a native leadership capacity". I was struck by that poignant thought and as such, include actual entries from my mother and my diaries beginning in the early 1970's.

I enjoy sharing these excerpts because it captures the parallels she and I were experiencing throughout life, from two separate worldviews. Hers as a young mother of four and mine as her eldest child.
I have never came across a book on leadership that lays bare a leaders personal feelings, thoughts, hopes, fears and dreams they were experiencing.

So for me, my goal is two-fold:

1. Share the incredible life my parents created for my siblings and I growing up in remote Alaska; and,

2) Sharing my humanity, through my personal diaries and journals, while serving as the youngest-ever President/CEO for the Alaska Native Health Board.

There are passages that will include significant policy issues I was working on throughout my career and travels. There are many more passages that do not.

I cannot speak for my mom's passages, because I am reading them as I share them here, with you; with her permission of course.

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