2024 Year in review

Circular Economies

Table of
Contents

COVER ARTIST STATEMENT

The life cycle of salmon is a powerful reflection of balance, renewal and reciprocity. This design represents the circular economy of salmon, where each stage — egg, river, salmon and ocean — flows in an unbroken cycle. Just as salmon nourish the land, waters and people, they remind us of our responsibility to sustain and protect these natural systems. Their return is not just a migration but a story of resilience, one that our communities have honored for generations. By respecting these rhythms, we ensure that future generations will continue to witness and benefit from this sacred cycle.

Nick Alan Foote (Gat Xwéech) is a Tlingit artist and illustrator.

Letter to our shareholders

A Letter
from Leadership

Fellow shareholders, For more than 50 years, our journey has been defined by cycles of formation, capacity building and continuous improvement. Today, we build on the lessons learned from our ancestors and the interwoven cycles of our Indigenous cultures to act decisively for the benefit of current and future shareholders, as well as the communities of Southeast Alaska.

We are committed to sustainable growth in our global operations and are dedicated to preserving our cultural heritage. We have forged partnerships and businesses that embody our core values, financed initiatives such as language preservation and cultural education, empowered Alaska’s small business communities, provided opportunities for our students to become the next generation of leaders, and engaged in public policy advocacy on key issues for our people, all while managing distributions and benefits that directly impact our growing ownership base.

We are more optimistic than ever about Sealaska’s future. As we drive global innovations in ocean health, sustainable seafood, and natural resource management, we remain rooted in our Indigenous stewardship — a commitment that safeguards the land, its habitats, and waterways for future generations. The financial strength of our organization supports a visionary management team that opens doors to new talent and investment opportunities, ensuring that our strategic plans yield historic profitability and real value creation for every shareholder.

I am deeply grateful for the dedication of our management and staff who work tirelessly to enhance profitability and prepare us to seize tomorrow’s opportunities. Equally, I thank you — our nearly 27,000 shareholders and the expanding family of over three million shares — for your trust, active voices, and ongoing support. I invite you to stay engaged through our newsletters, social media, community meetings, and websites. Together, embracing our past and looking boldly toward the future, we continue to strengthen Sealaska for generations to come.
Gunalchéesh,
Háw’aa,
T’oyaxsut ‘nüüsm,
Richard Tashee Rinehart
Sealaska Board Chair

Board of directors

Leadership

Board of Directors

Richard Rinehart smiles in a headshot photo.
Richard Tashee Rinehart
Board Chair
Joe Nelson smiles in this headshot photo.
Joe Kaaxúxgu Nelson
Interim President
A headshot of Jodi Mitchell, wearing glasses and smiling with lips closed.
Jodi Tseiltin Mitchell
Vice Chair
Michael Beasley smiles in a headshot photo.
Michael Daanawáak Beasley
Barbara Blake smiles for the camera in this headshot photo.
‘Wáahlaal Gíidáak Barbara Blake
A headshot of Barbara Blake. She smiles for the camera.
Barbara X’ashk’ugé Cadiente-Nelson
A headshot of Angela Michaud smiling for the camera.
Dr. Angela Saa Doo ou Michaud
Karen GunaaShaá Taug smiles for the camera in this headshot photo.
Karen GunaaShaá Taug
A headshot of Morgan Howard smiling for the camera.
Morgan X’agatkeen Howard
A headshot of Lisa Lang smiling for the camera.
Ka’illjuus Lisa Lang
A headshot of Charles Edwardson smiling for the camera.
Yáahl Sgwáansang Charles Edwardson
Monico Ortiz smiles in a headshot photo.
Monico Ortiz
A headshot of Vicki Soboleff smiiling for the camera.
Vicki Tl’aakahlwaas Soboleff
A headshot of Breylan Martin smiling for the camera.
Breylan Náajeyistláa Martin
Youth Advisor
A headshot of Aaní Perkins smiling for the camera.
Aaní Perkins Aanyáanáx Tláa
Youth Advisor

Executive Management

A headshot of Desiree Jackson smiling for the camera.
Desiree Anax x’aséigu yé Jackson
Vice President of Administration and Outreach
Derik Sigwinii’tsn Gayna Frederiksen
Vice President of Regional Business Development
Carrie Rorem
Chief Financial Officer
A headshot of Terry Downes smiling for the camera.
Terry Downes
Chief Executive Officer

Circular economies

Circular

ECONOMIES

The financial success of our businesses supports shareholders and communities through scholarships, internships, dividends, and many other benefit programs, as well as Sealaska Heritage Institute, Spruce Root, our OneSealaska partners and many other local organizations.
Internships & Scholarships
Woocheen
Haa Aaní
Culture & Language

OUR MISSION

Strengthen Our People, Culture and Homelands

OUR Vision

Through cultural vitality, Sealaska shareholders and future generations thrive through enduring prosperity and abundant, sustainable resources.

WE ARE ALL ONESEALASKA

Just as our shareholders are woven together in kinship and community, so too is Sealaska part of a broader coalition of support for our people. From land stewardship to community empowerment, from cultural revitalization to economic development, and from business growth to shareholder benefits, our OneSealaska family of organizations is diligently and collaboratively at work for our collective future.
Haa Aaní
Sealaska Heritage Institute
Spruce Root
Seacoast Trust
Sustainable Southeast Partnership
Woocheen

WOOCHEEN

Our 2035
VISION

Our businesses, under Woocheen’s umbrella, are working to support an ambitious vision for our communities and the world — a vision where:

Everyone — anywhere in the world — has readily accessible, clean drinking water

Fisheries across the planet are healthy and sustainable

Half of the planet’s lost wilderness is restored, supporting biodiversity

All energy is derived from clean, sustainable sources

The world has the best possible research and data to model and fight the effects of climate change

The world has the best possible research and data to model and fight the effects of climate change

Fisheries across the planet are healthy and sustainable

Everyone — anywhere in the world — has readily accessible, clean drinking water

Half of the planet’s lost wilderness is restored, supporting biodiversity

All energy is derived from clean, sustainable sources

Community owned,
culturally inspired

Sealaska’s businesses begin with roots in Southeast Alaska and then return to the region to fuel stewardship of land, culture, opportunity and economic vitality.

The shared heritage of our Alaska Native owners inspires Sealaska’s business model. Thousands of years of connection to land and sea inform our work at Woocheen, which helps solve the world’s most important problems.
A group of red canoes filled with people moves across the water, with the background of expansive sky, mountains, and evergreen trees.
Woocheen operates across three main pillars of environmentally focused work designed to combat climate change:
Geosciences
 Improve understanding of our Earth. We advance clean energy and climate research with oceanfocused science and engineering.
Sustainable Seafood
 Improve lives through seafood. We source and process wild fish and shellfish from the world’s best-managed fisheries. 
Construction & Environment
 Improve the built and natural environment. We clean up contaminated soil and water and improve facilities and infrastructure. 
OUR BUSINESS

For people

For Planet

Woocheen’s businesses are part of the economy of the future — one that embraces sustainable living for our Earth’s growing population. Demand for this work is fueling our 
financial success.
Woocheen invests in the best businesses in their field, wherever they may be. That means having seafood operations in the carefully managed fisheries of the Pacific Northwest and Iceland. It means leading geosciences work in places such as Northern England, a global hub for offshore engineering. It means taking on environmental construction projects wherever they occur across the nation and world.

The glue that holds it all together is our employees, willing to solve problems together in difficult environments. Passion, integrity and purpose keep us going. History has shown us that, when we work together, we’re capable of anything. That’s the spirit that fuels Woocheen.
$107
million
Circular Success
Serving Shareholders
Our worldwide businesses drive local benefits in Southeast Alaska. New England Seafood International is the biggest promoter and seller of wild Alaska fish in the UK and Northern Europe, creating demand for fishermen in Alaska. Seas Geosciences is partnering with a Swedish wave-energy company to expand the generation of clean power from the consistent, strong motion of surface ocean waves — an industry that holds promise for Alaska’s communities.
2024
2025
36
Shareholder Interns
16
Business & regional partner organizations
48
Shareholder Interns
20
Business & regional partner organizations
$107
million
in Woocheen earnings have been cumulatively reinvested in shareholder programs and benefits this decade, meaning we all share in Sealaska’s sustainable business success
Swipe right to learn more >>
Science drives
Woocheen's Work:
We hire geophysicists, who study the Earth’s natural processes, to help us understand what is underground, how water flows through rock and soil, and how to build on specific surfaces.
We employ geotechnical and subsea engineers, who know what soils are made of and how they change, to help us work safely and effectively in deep water, where many clean-energy projects are taking shape.
Our seafood business employs marine biologists to help ensure we source wild fish from the world’s best-managed fisheries so that our practices are responsible and sustainable.

DIVING DEEPER 

To strengthen our ability to work in deep water with cutting-edge tools, we acquired UK-based DME Systems in 2024. DME brings deep engineering talent that specializes in designing subsea vehicles and control systems that serve offshore industries. DME helped design Seas Geosciences’ new deepwater drill, which can collect soil samples from the seafloor in water up to a mile deep.

HAA AANÍ

Jason Gubatayao

General Manager
Haa Aaní

“One of the most rewarding parts of stewarding our lands is advocating for and preparing sacred land sites for return to Native ownership."
Fish Passage
Forest Stand Improvement
Project Design

Stewarding
Our Lands

2024 was a year of evolving our land management approach by building a team with a profound understanding of traditional ecological knowledge, gained by living on the land and in our communities. Employing shareholders in these positions highlights our connection to Haa Aaní (our lands) and shows our commitment to go beyond resource management — it's stewardship.

Continually caring for over 362,000 acres involves forest stand improvements for wildlife, developing road management plans for access, and creating programs like our cultural wood use program to ensure sustainable red cedar sources for carvers.

In 2024, Sealaska donated six totem logs, one canoe log, over 1,000 wood paddle blanks, and nearly 3,000 ounces of dried cedar bark for weaving workshops.

When restoring habitats, ecology doesn’t follow property lines, but natural boundaries — mountains, oceans and islands. Sealaska's stewardship efforts are supported by a coalition of partners and funding streams built through relationships. Through the efforts of existing forest partnerships and buy-in from cities, tribes and other corporations, we are moving from resource extraction to habitat restoration.

Our model is community-driven: aligning ourselves with stakeholders to make collective decisions, ensuring community input guides and prioritizes our work. This model is now being adopted in other communities as well, with participation from local governmental partners.

Sealaska cares for approximately 362,000 acres of our traditional homelands. While this represents a small portion of our peoples’ original lands, it remains a large and vital stretch of Southeast Alaska, which continues to feed our communities and nourish our culture.

In 2024:
2,370
Acres of forest stand improvement projects implemented across Southeast for more biodiverse forests.
4
Stream crossing structures impairing fish passage were addressed, reconnecting about 7 kilometers of stream habitat important to juvenile salmon.
10
Designs started for replacing stream crossing structures that are impeding fish passage.
We bring together local representatives, ecologists and scientists to make decisions that are in the best interest of the community. It takes hard work, trust and relationship-building to get everyone on the same page, but the work that comes out of these collaborations is meaningful and successful.
Watch a video about our forest stewardship efforts here.
“Habitat restoration has a social, environmental, community and economic impact. We want to be a force multiplier of benefit for those communities. In the end, habitat restoration is great for the environment and great for fishermen, because we’re developing places for salmon to spawn and return to. It increases pride in the community. It increases employment.

Derik Sigwinii’tsn Gayna Frederiksen

Sealaska Vice President of Regional Business Development

Better Together

We are investing in communities and organizations for balanced land management by funding our OneSealaska nonprofit partners. We are shifting our focus: along with using our revenue to directly fund these initiatives, we work to connect available funding — through federal programs and grants — to landowner efforts, helping to offset support costs and achieve our mission.

For example, we work with Spruce Root to hire local contractors for this stewardship work. Last year, Sealaska dedicated $400,000 to Spruce Root’s efforts to empower Alaska’s small business communities. From that, between 2023 and 2024, Spruce Root invested over $5.6 million in Southeast Alaska Native communities across its programming. Since Spruce Root’s inception, their loan program has deployed direct financing and guarantees totaling over $4.3 million to 36 businesses in 12 communities across the region.

An important part of stewarding land in perpetuity is ensuring funding streams for future generations. Seacoast Trust is a pillar of that endeavor. By setting dedicated funds aside, the interest from that becomes a renewable, sustainable source of financing for this work. Between 2021 and 2023, Sealaska donated $10 million in matching funds for Seacoast Trust — which has inspired another $17.5 million in contributions from others to date — establishing this visionary organization, which in turn supports local empowerment groups such as the Sustainable Southeast Partnership and others.

Cultural Impact

CULTURE & LANGUAGES

BUILDInG UP

INDIGENOUS SCIENCE

Sealaska Heritage Institute’s new Indigenous Science Building (ISB) at Sealaska Plaza emphasizes Indigenous science as a cumulative and systematic body of knowledge acquired by Indigenous people over thousands of years through observations, interactions and utilization of local ecological systems, resources and the universe, transferred through succeeding generations of Indigenous communities. While Indigenous science is grounded in cultural traditions and worldviews, it also works to integrate principles of western science, technology, engineering, arts and math (STEAM).

This new space explores how Indigenous science refines and reimagines STEAM tools and concepts within a cultural framework and serves as a hub for intergenerational learning and collaboration.
$1 million
was contributed by Sealaska in 2024 to help fund the construction of the ISB FabLab, which prioritizes hands-on learning experiences that highlight the knowledge of Tlingit, Haida and Tsimshian peoples, promoting sustainable practices guided by Indigenous science.
The FabLab empowers youth with critical thinking skills rooted in Indigenous perspectives and values, providing a community space for creating, designing and innovating.
$632,000
in direct funding from Sealaska’s Language Revitalization fund was provided to language programs in 2024
$2.7 million
directed to Sealaska Heritage Institute in 2024
Rosita Kaaháni Worl receiving the 2023 National Humanities Medal from President Joe Biden in 2024

SETTING THE STANDARD

Having statewide Lingít language learning standards is monumental for Alaska, and we are proud that Sealaska Heritage Institute led this process. The final product, developed by a state-wide working group of language teachers and speakers, is rooted in Alaska Native ways of teaching and learning.

In 2020, Sealaska set aside $10 million to establish the Language Revitalization Fund for a period of 10 years. The earnings of the fund are used to support programs focusing on the revitalization of Tlingit (Lingít), Haida (X̲aad Kíl) and Tsimshian (Sm’algya̲x) languages for future generations to come.

Sealaska has invested in Sealaska Heritage Institute’s perpetuation and enhancement of Tlingit, Haida and Tsimshian culture. SHI was able to leverage Sealaska’s investment to achieve a total budget of $30 million last year.

INVESTING IN COMMUNITIES

Our cultural revitalization efforts have been a healing process. Evaluations of programs integrating culture into youth education show improvements in academic achievement, school retention and emotional well-being.

Collectively, these efforts help nurture healthier citizens who are productive, self-sustaining and able to break free from the dependency fostered by previous government policies. Sealaska and Sealaska Heritage Institute invest in education for significant, positive change in our communities by meeting children and families where they are and providing support.
Over the last decade, Sealaska has invested more than $83 million to support what our shareholders tell us they care most deeply about:
Native arts, culture and language preservation
Providing support for Southeast Alaskan communities to achieve sustainable economic prosperity, environmental stewardship, and natural resource management
Post-secondary education, training and career development opportunities
Real-world domestic and international work experiences for our young people
Public policy and advocacy efforts
A photo of the US Navy's apology in Angoon, AK.

Historical Healing

Over the course of the last year, the United States Armed Forces culminated five years of collaboration with Sealaska Heritage Institute, clan leaders and tribal citizens to issue three in-person, formal apologies for the 19th-century bombardments of K̲aachx̲aan.áak’w (Wrangell), K̲éex̲’ K̲wáan (Kake) and Xutsnoowú K̲wáan (Angoon), marking an important step toward healing and reciprocity.

The U.S. Navy formally apologized to the village of Kake last September for its bombardment of the community and its associated sites more than 150 years ago, launched in the winter of 1869, destroying homes, canoes and food supplies, which led to many deaths in the aftermath, especially among children and Elders, according to Kake oral histories.

Then, in October, the U.S. Navy also formally apologized to the community of Angoon for its bombardment of the village in 1882 that led to the deaths of six children and a brutal winter without shelter and provisions. According to the story of Billy Jones, a 13-year-old resident at the time of the attack, every structure was destroyed.

Later, this January, the U.S. Army issued a formal apology to the people of Wrangell for its 1869 bombardment of their village, when soldiers from Fort Wrangell shot individuals, used artillery on civilian houses, issued threats and ultimatums, and martyred a Tlingit man who gave his life to spare the village from further destruction.

In solidarity, the Sealaska Board of Directors passed a 2024 resolution to support reparations to these communities for this critical and ongoing process of healing.

Gunalchéesh, háw’aa and t’oya̲xsut ‘nüüsm to our clan leaders, tribal representatives and all community members who worked tirelessly to make these historic first moments of reconciliation possible.
Sealaska Heritage Institute documented each historic ku.éex’ and has made the events publicly viewable:
Click here to view events from each ku.éex’
Learn about another 2024 apology, from the City and Borough of Juneau to Douglas Indian Association for the 1962 burning of Douglas Indian Village, offered to honor the wish of departing Assembly Member ‘Wáahlaal Gíidáak Barbara Blake:
Click here to learn more

INTERNSHIPS & SCHOLARSHIPS

SEALASKA INTERNSHIPS

LEARNING from experience

Tlakwadzee Marjorie Barker • Sealaska Intern
"The most meaningful part of my internship was documenting regalia from past Celebrations — pieces that had been lost to time. One of the most rewarding moments was reuniting a Kiks.ádi button vest with its rightful owner.”
Internships
Follow the link to learn more about internship opportunities, or apply today!
Serving as an Archives and Collections Intern at Sealaska Heritage Institute in Juneau, Marjorie’s experience allowed her to live on her homelands, reconnect deeply with her culture, and immerse herself in the traditions of her people. It was also pivotal in launching her career, helping her secure a job at Sealaska Heritage Institute, rooted in both cultural and professional growth.

The impact of these internships is profound. One of the most powerful things we can do is invest in our youth — supporting their success and strengthening their connection to their cultural heritage.

When we uplift and empower our young people, we are ensuring a stronger future for all. This kind of investment in our youth is essential. Sealaska internships are an incredible opportunity to gain hands-on experience that aligns with professional interests and personal passions.

There are more opportunities now than ever before — youth are encouraged to learn our languages, reclaim our cultural knowledge, and embrace who we are. That foundation will keep us strong, connected, and resilient for generations to come.
We are helping shareholders get the jobs they want in the communities where they live.
In 2024:
$551K
invested in domestic and international internships
34
students exploring diverse career paths
SEALASKA INTERNSHIPS

Learning in community

Growing up on the East Coast, Christian’s parents never let him miss Celebration. When he was older, becoming a Sealaska scholarship recipient gave him another meaningful way to stay connected to his culture and community — a path that led him back to Southeast and into a career with Sealaska.

When Christian was exploring next steps after college, an opportunity with Sealaska arose. There were other options, but he kept thinking about everything he and Sealaska had shared as he grew — culture camps, scholarships, and a sense of belonging. That connection was what influenced his decision to return and to inspire that cultural connection for others — to benefit them as it had benefited him.

Our shareholder and descendant support programs — whether a scholarship or another opportunity — are about strengthening our relationships as people and our resilience as communities.

It is inspiring to see how many Sealaska employees, leaders, and board members have also been scholarship or internship recipients. The vision behind these programs is being realized — we are doing more than funding education; we are investing in future leaders.

We must continue educating and empowering our young people, wherever they are. They need to know the many ways they can make an impact in their communities. Their voices, their influence, and their values are needed — especially in spaces where Alaska Native perspectives may not be as visible.
Scholarship Opportunities
Follow the link to learn more about scholarhship opportunities, or apply today!
“I first heard about the scholarship through social media. I knew it was an option for shareholder descendants. It was a tremendous help. I had always envisioned coming back to work within the culture. I feel fortunate to have had that support.

Christian K̲aat’aawu
Gomez

Scholarship Recipient

$21 million
has been committed to the Scholarship endowment since its creation
More than
$1 million
provided for scholarships in 2024

Thank you

Gunalchéesh
Háw’aa
T’oyaxsut ‘nüüsm

Thank you for reading and being part of our shared success!
The story doesn't end here — continue on to our full 2024 Annual Report, for a downloadable version of this content, detailed financial information, our business directory and more!
Download the Full Annual Report