Koniag Education Foundation endowment grows to $10 million

The Koniag Education Foundation reached a longtime goal in mid-August, as their endowment reached $10 million dollars. It’s been a long journey to reach this point- Executive Director Jesse Kreger says that the organization started small with a $4,000 endowment nearly three decades ago.

“Koniag Education Foundation was founded in 1994, by Koniag Incorporated. At that time, their board of directors was looking to the future. And they knew that an educated shareholder base would be instrumental in creating the next leaders at the corporation, as well as supporting the whole community on Kodiak and our shareholders wherever they might be in their efforts to attain education in whatever form that might take,” Kreger said.

The Koniag Education Foundation says it uses its endowment to support shareholders and descendants seeking education, and provides about 200 students with an average of around $4,000 of assistance.

Kreger says that the foundation is looking ahead to its next goal.

“We want to exist to support our shareholders and descendants, not only right now, and not only in the next 20 years, but the next generation three generations beyond and in perpetuity. We’re really thinking long term about how we can position ourselves for growth and continued support of our shareholders and descendants,” Kreger said. 

According to Kreger, the next goal is to grow the endowment to $20 million, with 2028 set as the target year.

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