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Nonprofiteer
← KDS INC

Form 990 for tax year 2023

Filed by KDS INC.

Totals

Total revenue
$6,149,405
Total expenses
$73,361
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$6,149,405
Investment income
$0
Other revenue
$0
Total assets, end of year
$31,660,699
Total liabilities, end of year
$3,400
Net assets or fund balances, end of year
$31,657,299
Program services expenses (Part IX)
$73,361
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$73,361

Program services were 100.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: Royalty Revenue

    total $6,149,405 · related or exempt $6,149,405

  • 3 · Investment income

    total $0

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6d · Net rental income or loss

    total $0

  • 7d · Net gain or loss

    total $0

  • 8c · Net income from fundraising events

    total $0

  • 9c · Net income from gaming

    total $0

  • 10c · Net income from sales of inventory

    total $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $0

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $0

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $0

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $0

  • 10 · Payroll taxes

    total $0

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $0

  • 11c · Fees: accounting

    total $3,300 · program services $3,300

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $69,961 · program services $69,961

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $0

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $0

  • 17 · Travel

    total $0

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $0

  • 23 · Insurance

    total $0

  • 24a · Other expenses: Fees and Licenses

    total $100 · program services $100

  • 24e · All other expenses

    total $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $599,040 · end of year $529,080

  • 2 · Savings and temporary cash investments

    end of year $0

  • 3 · Pledges and grants receivable

    end of year $0

  • 4 · Accounts receivable

    beginning of year $982,215 · end of year $7,131,619

  • 5 · Loans and receivables from officers and key people

    end of year $0

  • 6 · Loans and receivables from disqualified persons

    end of year $0

  • 7 · Other notes and loans receivable

    end of year $0

  • 8 · Inventories for sale or use

    end of year $0

  • 9 · Prepaid expenses and deferred charges

    end of year $0

  • 10c · Land, buildings and equipment, net

    end of year $0

  • 11 · Investments: publicly traded securities

    end of year $0

  • 12 · Investments: other securities

    end of year $0

  • 13 · Investments: program-related

    end of year $0

  • 14 · Intangible assets

    beginning of year $24,000,000 · end of year $24,000,000

  • 15 · Other assets

    end of year $0

  • 25 · Other liabilities

    end of year $3,400

  • 27 · Net assets without donor restrictions

    beginning of year $25,581,255 · end of year $31,657,299

Mission and programs · 2023

Mission

KDS, Inc. holds title to property for Norton Sound Development Corporation (NSEDC), EIN 86-0710852, which is tax exempt under 501(c)(4). NSEDC's purpose is to promote economic development in the Norton Sound region as a participant in the Community Development Quota Program which uses quota share income to fund economic development activities in member villages in western Alaska, in accordance with section 305(I)(1) of the Magnuson-Stevens Fishery Conservation and Management Act, codified at 16 USC 1855(I)(1).

  • Collected royalties and passed income directly to parent company NSEDC, to fund economic development and other activities in the Norton Sound region.

    Expenses $73,361 · Revenue $6,149,405

As filed on the 2023 return.

Listed in Part VII

  • Janis Ivanoff

    President & CEO

    Total calculated
    $400,409
    From this org
    $0
    From related orgs
    $334,315
    Other
    $66,094
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    not reported + $309,315 related
    Bonus
    not reported + $25,000 related
    Other
    not reported
    Deferred
    not reported + $20,857 related
    Nontaxable benefits
    not reported + $45,237 related
    Filer's total
    not reported + $400,409 related

  • Simon Kinneen

    VP and CBO

    Total calculated
    $328,859
    From this org
    $0
    From related orgs
    $267,677
    Other
    $61,182
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    not reported + $242,677 related
    Bonus
    not reported + $25,000 related
    Other
    not reported
    Deferred
    not reported + $15,945 related
    Nontaxable benefits
    not reported + $45,237 related
    Filer's total
    not reported + $328,859 related

  • Tyler Rhodes

    COO

    Total calculated
    $313,204
    From this org
    $0
    From related orgs
    $253,196
    Other
    $60,008
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    not reported + $228,196 related
    Bonus
    not reported + $25,000 related
    Other
    not reported
    Deferred
    not reported + $14,770 related
    Nontaxable benefits
    not reported + $45,238 related
    Filer's total
    not reported + $313,204 related

  • Matt Coates

    Treasurer & CFO

    Total calculated
    $271,384
    From this org
    $0
    From related orgs
    $213,782
    Other
    $57,602
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    not reported + $188,782 related
    Bonus
    not reported + $25,000 related
    Other
    not reported
    Deferred
    not reported + $12,364 related
    Nontaxable benefits
    not reported + $45,238 related
    Filer's total
    not reported + $271,384 related

  • Justin Noffsker

    Operations Manager

    Total calculated
    $210,178
    From this org
    $0
    From related orgs
    $174,330
    Other
    $35,848
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    not reported + $149,330 related
    Bonus
    not reported + $25,000 related
    Other
    not reported
    Deferred
    not reported + $9,279 related
    Nontaxable benefits
    not reported + $26,569 related
    Filer's total
    not reported + $210,178 related

  • Wes Jones

    Quota Manager

    Total calculated
    $206,146
    From this org
    $0
    From related orgs
    $150,950
    Other
    $55,196
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    not reported + $150,950 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported + $9,958 related
    Nontaxable benefits
    not reported + $45,238 related
    Filer's total
    not reported + $206,146 related

  • Josh Osborne

    NSSP Plant Manager

    Total calculated
    $205,495
    From this org
    $0
    From related orgs
    $169,733
    Other
    $35,762
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    not reported + $144,733 related
    Bonus
    not reported + $25,000 related
    Other
    not reported
    Deferred
    not reported + $9,193 related
    Nontaxable benefits
    not reported + $26,569 related
    Filer's total
    not reported + $205,495 related

  • Paul Ivanoff

    Community Benefits

    Total calculated
    $189,817
    From this org
    $0
    From related orgs
    $135,541
    Other
    $54,276
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    not reported + $135,541 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported + $9,038 related
    Nontaxable benefits
    not reported + $45,238 related
    Filer's total
    not reported + $189,817 related

  • Kathy Wheelehan

    Secretary

    Total calculated
    $183,279
    From this org
    $0
    From related orgs
    $158,700
    Other
    $24,579
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    not reported + $133,700 related
    Bonus
    not reported + $25,000 related
    Other
    not reported
    Deferred
    not reported + $9,565 related
    Nontaxable benefits
    not reported + $15,014 related
    Filer's total
    not reported + $183,279 related

  • Renae Ivanoff

    NSFR&D Director

    Total calculated
    $152,965
    From this org
    $0
    From related orgs
    $131,054
    Other
    $21,911
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    not reported + $131,054 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported + $6,897 related
    Nontaxable benefits
    not reported + $15,014 related
    Filer's total
    not reported + $152,965 related

  • Frank Katchatag

    Chairman

    Total calculated
    $58,366
    From this org
    $0
    From related orgs
    $58,366
    Other
    $0
    Hours/week
    1 + 8 related

  • James Sherman

    Director

    Total calculated
    $56,722
    From this org
    $0
    From related orgs
    $56,722
    Other
    $0
    Hours/week
    1 + 8 related

  • Milton Cheemuk

    Director

    Total calculated
    $54,976
    From this org
    $0
    From related orgs
    $54,976
    Other
    $0
    Hours/week
    1 + 8 related

  • Anna Oxereok

    Director

    Total calculated
    $50,537
    From this org
    $0
    From related orgs
    $50,537
    Other
    $0
    Hours/week
    1 + 8 related

  • Harvey Sookiayak

    Director

    Total calculated
    $50,434
    From this org
    $0
    From related orgs
    $50,434
    Other
    $0
    Hours/week
    1 + 8 related

  • Daniel Harrelson

    Director

    Total calculated
    $50,419
    From this org
    $0
    From related orgs
    $50,419
    Other
    $0
    Hours/week
    1 + 8 related

  • Morris Nashoanak

    Director

    Total calculated
    $49,924
    From this org
    $0
    From related orgs
    $49,924
    Other
    $0
    Hours/week
    1 + 8 related

  • Arthur Amaktoolik

    Director

    Total calculated
    $49,509
    From this org
    $0
    From related orgs
    $49,509
    Other
    $0
    Hours/week
    1 + 8 related

  • Preston Rookok

    Director

    Total calculated
    $49,221
    From this org
    $0
    From related orgs
    $49,221
    Other
    $0
    Hours/week
    1 + 8 related

  • Melvin Otton

    Director

    Total calculated
    $47,494
    From this org
    $0
    From related orgs
    $47,494
    Other
    $0
    Hours/week
    1 + 8 related

  • Dean Peterson

    Director

    Total calculated
    $47,406
    From this org
    $0
    From related orgs
    $47,406
    Other
    $0
    Hours/week
    1 + 8 related

  • Joseph Garnie

    Director

    Total calculated
    $45,506
    From this org
    $0
    From related orgs
    $45,506
    Other
    $0
    Hours/week
    1 + 8 related

  • Sara Seetot

    Director

    Total calculated
    $40,001
    From this org
    $0
    From related orgs
    $40,001
    Other
    $0
    Hours/week
    1 + 8 related

  • Frances Ozenna

    Director

    Total calculated
    $34,579
    From this org
    $0
    From related orgs
    $34,579
    Other
    $0
    Hours/week
    1 + 8 related

  • Shirley Antoghame

    Director

    Total calculated
    $30,464
    From this org
    $0
    From related orgs
    $30,464
    Other
    $0
    Hours/week
    1 + 8 related

  • Frieda Southall

    Director

    Total calculated
    $13,155
    From this org
    $0
    From related orgs
    $13,155
    Other
    $0
    Hours/week
    1 + 8 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • Glacier Fish Company

    Fishing · WA

    Directly controlled by NSEDC

  • Siku Holdings LLC

    Holding company · AK

    Directly controlled by SIU Alaska Corp

  • Aleutian #1 LLC

    Fishing · AK

    Directly controlled by Siku Holdings LLC

  • Patricia Lee LLC

    Fishing · AK

    Directly controlled by Siku Holdings LLC

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • Siu Alaska Corporation

    C Corp · Holding company · AK

    Directly controlled by NSEDC

Provenance

Return type
form_990
Tax year
2023
Filed
13 November 2024
IRS schema version
2023v5.1
Source object
202423189349311727

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