OUR SHAREHOLDERS
The native village of St. Mary’s is located on the north bank of the Andreafsky River, point five miles from its confluence with the Yukon River. It’s situated approximately 450 miles west-northwest of Anchorage. The City of St. Mary’s encompasses the Yupik tribal communities of Algaaciq and Andreafsky. In 1967, St. Mary’s incorporated as a city, although the residents of Andreafsky initially chose to remain under tribal jurisdiction. In 1980, the communities were annexed and are governed by the City of St. Mary’s.
The St. Mary’s Native Corporation (SMNC) is a for-profit organization created with the passage of the Alaska Native Claims Settlement Act (ANCSA), which was enacted on December 18, 1971. SMNC had 297 original shareholders with 100 shares each.
In 1986, the SMNC Board of Directors created a new class of stock for descendants born after ANCSA. Our new non-profit organization, Yunerrait Corporation, was created with three voting shares.
One third of our shareholders live in St. Mary’s, a third live in Anchorage and a third live elsewhere. In 2012, SMNC opened a new office in Anchorage, the business center of Alaska. This was a necessary step in order to grow and diversify our family of companies.
One third of our shareholders live in St. Mary’s, a third live in Anchorage, and a third live elsewhere. In 2012, SMNC opened a new office in Anchorage, the business center of Alaska. This was a necessary step in order to grow and diversify the family of companies.
