Makivik Corporation FY2021 filing

Not tax-deductible

Canada501(c)(4)Since 1978 EIN 98-0105409Revenue $9.5M in FY2021

On file with the IRSmakivik.orgVille St Laurent Quebec H4m 2x6, 00000-0000 · CanadaTax-exempt since Jun 1991

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To relieve poverty and promote the welfare advancement and education of the inuit. To foster promote, protect and assist in the preserving the inuit way of life, values and traditions. To initiate, expand and develop opportunities for the inuit to participate in the economic development of their society. To develop and improve the inuit communities and improve their means of action. To assist in the creation, financing or development of businesses, resources, properties and industries of the inuit.

501(c)(4) social-welfare organization; gifts are not tax-deductible as charitable contributions.
76¢ of each $1 spent went to programs.
$993K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(4)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
6 of 6
filings with a surplus
Average surplus $5.3M a year · 56% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
76%
of spending
Looks good: 76% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$993K
to officers and key staff · 23% of spending
Worth a look: pay to officers and key staff is 23% of spending; over 20%.
Pt VII · Sec A
337 mo
of spending, in cash
Plus $414.9M in investments, Pt X · Ln 11–13
Looks good: 337.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$122.0M
21% of total assets
Looks good: liabilities are 21% of assets; 50% or less.
Pt X · Ln 26
Independent board members
0
of 22 voting members
Concern: none of 22 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$9.5M
+14% vs prior year
Spent
$4.3M
To programs
76%
Net assets
$454.5M
By yearFY2020–FY2025
Revenue
$9.5M
FY2021▲ +14%
Tap a bar for its year
Revenue by fiscal year
FY2020$8.4M
FY2021$9.5M
FY2022$8.1M
FY2023$9.3M
FY2024$10.4M
FY2025$10.5M
Expenses
$4.3M
FY2021▼ -14%
Tap a bar for its year
Expenses by fiscal year
FY2020$5.0M
FY2021$4.3M
FY2022$3.9M
FY2023$1.2M
FY2024$3.4M
FY2025$6.7M
Net assets
$454.5M
FY2021▲ +10%
Tap a bar for its year
Net assets by fiscal year
FY2020$411.4M
FY2021$454.5M
FY2022$424.8M
FY2023$470.9M
FY2024$547.5M
FY2025$671.7M

From the FY2021 Form 990 (year ending September 2021) · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jun 1991.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

76 cents of each dollar spent went to programs.

Program services 76% · $3.3M Management & general 24% · $1.0M

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

22 people listed on the 990; $993K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Director
$139,207Pt VII · Sec A
$117,121Pt VII · Sec A
$109,165Pt VII · Sec A
$91,359Pt VII · Sec A
$91,277Pt VII · Sec A
$34,631Pt VII · Sec A
Director
$33,622Pt VII · Sec A
$32,612Pt VII · Sec A

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Adams Peter$158,066$212,127$133,645$129,217$139,207—
Moorhouse Andy$176,094$115,144$78,086$79,958——
Aragutak Alicia$148,158$96,222$69,102$68,870——
Berthe George$122,967$111,778$133,389$101,666$109,165$55,057
Alaku Adamie-Delisle$106,988$109,654$109,701$91,360$117,121$87,510
Watt SR Charlie—————$108,316
Emudluk Maggie————$91,359$61,907
Novalinga Rita————$91,277$64,446

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes
  • Loans to or from officersSch L · Pt II10 listed

Programs and updates

Empowering Inuit communities through poverty relief, education, and economic development, while preserving their culture.

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Provided by the organization

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3 programs · $3.3M · in their own filed words · FY2020
01

Social Housing Program The Construction Division of Makivik Corporation receives funding from both the governments of Canada and Quebec for the construction of social housing for residents of Nunavik (that area of the province of Quebec north of the 55th parallel).

$2.2Mprogram expense
02

Economic and Community Development During the course of the fiscal year the Corporation supported a number of community, social, cultural and economic development programs including organizations such as the Avataq Cultural Institute, the Nunavik Hunters Fishers and Trappers Association, the Nunavik Landholding Corporations, the Qarjuit…

$633Kprogram expense
03

Ungaluk Safer Communities Program During the course of the fiscal year the Corporation took part in the administration of the Ungaluk Safer Communities Program which funds crime prevention programs across Nunavik in urban areas of Quebec.

$485Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$9.5M
Ln 12
Investment incomeLn 3$9.5M
Money outPt IX
$4.3M
Ln 25
Programscol B$3.3M
Managementcol C$1.0M
Owns and owesPt X
$454.5M
net assets · Ln 32
Cash and savingsLn 1–2$121.3M
Total assetsLn 16$576.5M
LiabilitiesLn 26$122.0M
PeoplePt VI, VII
22
listed · VII A
PaidVII A22
Voting boardVI 1a22
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Investment incomeLn 3$9.5M
Gains on assetsLn 7$7.5M
Total revenueLn 12$9.5M
Assets in detailPt X, end of year
CashLn 1$63.3M
SavingsLn 2$58.0M
Cash and savings togetherLn 1–2$121.3M
InvestmentsLn 11–13$414.9M
Land, buildings, equipmentLn 10c$6.0M
Other assetsLn 15$78K
Total assetsLn 16$576.5M
LiabilitiesLn 26$122.0M
Net assetsLn 32$454.5M
OperationsPt I, VI
EmployeesI 5293
Fiscal year endsHeaderSeptember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$171.8M$121.3M
InvestmentsLn 11–13$328.1M$414.9M
Land, buildings, equipmentLn 10c$4.1M$6.0M
Total assetsLn 16$520.0M$576.5M
LiabilitiesLn 26$108.7M$122.0M
Net assetsLn 32$411.4M$454.5M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$1.0M$1.0M
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$993K$676K$317K
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$3.5M$2.4M$1.1M
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$0
Payroll taxesLn 10$0
Management feesLn 11a$582K$396K$186K
Legal feesLn 11b$94K$64K$30K
Accounting feesLn 11c$48K$33K$15K
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$0
Advertising and promotionLn 12$0
Office expensesLn 13$479K$327K$153K
Information technologyLn 14$0
RoyaltiesLn 15$0
OccupancyLn 16$251K$171K$80K
TravelLn 17$358K$244K$114K
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$0
InterestLn 20$0
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$128K$88K$41K
InsuranceLn 23$110K$75K$35K
Other expenses (24a–d)Ln 24−$3.4M−$2.3M−$1.1M
All other expensesLn 24e$92K$63K$29K
Total functional expensesLn 25$4.3M$3.3M$1.0M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $10.5M$6.7M$3.8M$671.7M 990 PDF
FY2024 $10.4M$3.4M$7.0M$547.5M 990 PDF
FY2023 $9.3M$1.2M$8.0M$470.9M 990 PDF
FY2022 $8.1M$3.9M$4.2M$424.8M 990 PDF
FY2021 Viewing $9.5M$4.3M$5.2M$454.5M 990 PDF
FY2020 $8.4M$5.0M$3.4M$411.4M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support F · Foreign O · Explanations
See the full FY2021 990 (6 parts)
Part I · Summary $9,515,424 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $8,352,022$9,515,424
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $8,352,022$9,515,424
I-13 Grants and similar amounts paidPrior year $853,521$1,039,356
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $5,189,628$4,515,182
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year −$1,047,870−$1,234,784
I-18 Total expensesPrior year $4,995,279$4,319,754
I-19 Revenue less expensesPrior year $3,356,743$5,195,670
Part VI · Governance 0 of 22 board members independent, 2 to look at
VI-1a Voting members of the governing body22
VI-1b Independent voting members0
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $9,515,424 across 7 lines filed
VIII-1h Total contributions, gifts and grants$0
VIII-3 Investment income$2,003,665
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assets$7,511,759
VIII-8 Net income from fundraising events$0
VIII-12 Total revenue$9,515,424
Part IX · Statement of functional expenses $4,319,754 across 31 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipientsPrograms $1,039,356$1,039,356
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staffPrograms $676,079 · Management $316,518$992,597
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wagesPrograms $2,399,302 · Management $1,123,283$3,522,585
IX-8 Pension plan contributions$0
IX-9 Other employee benefits$0
IX-10 Payroll taxes$0
IX-11a Management feesPrograms $396,482 · Management $185,621$582,103
IX-11b Legal feesPrograms $64,281 · Management $30,094$94,375
IX-11c Accounting feesPrograms $32,619 · Management $15,271$47,890
IX-11d Lobbying fees$0
IX-11f Investment management fees$0
IX-12 Advertising and promotion$0
IX-13 Office expensesPrograms $326,558 · Management $152,885$479,443
IX-14 Information technology$0
IX-15 Royalties$0
IX-16 OccupancyPrograms $171,035 · Management $80,073$251,108
IX-17 TravelPrograms $243,533 · Management $114,015$357,548
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$0
IX-20 Interest$0
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortizationPrograms $87,520 · Management $40,974$128,494
IX-23 InsurancePrograms $74,731 · Management $34,987$109,718
IX-24 Other expenses (24a–d)Programs −$2,300,751 · Management −$1,077,144−$3,377,895
IX-24e All other expensesPrograms $62,957 · Management $29,475$92,432
IX-25 Total functional expensesPrograms $3,273,702 · Management $1,046,052 · Fundraising $0$4,319,754
Part X · Balance sheet $576,482,269 assets, 24 lines filed
Asset lines not itemized here account for $10,732; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $76,958,755$63,322,756
X-2 Savings and temporary cash investmentsStart of year $94,865,644$57,973,833
X-3 Pledges and grants receivableStart of year $0$0
X-4 Accounts receivableStart of year $15,520,206$33,743,382
X-8 Inventories for sale or useStart of year $0$0
X-9 Prepaid expenses and deferred chargesStart of year $327,415$502,543
X-10c Land, buildings and equipment, netStart of year $4,127,838$5,985,185
X-11 Publicly traded securitiesStart of year $120,838,028$190,203,091
X-12 Other securitiesStart of year $207,286,241$224,663,204
X-13 Program-related investmentsStart of year $0$0
X-14 Intangible assetsStart of year $0$0
X-15 Other assetsStart of year $74,065$77,543
X-16 Total assetsStart of year $520,006,258$576,482,269
X-17 Accounts payable and accrued expensesStart of year $32,078,240$42,223,350
X-18 Grants payableStart of year $0$0
X-19 Deferred revenueStart of year $67,047,787$70,600,150
X-20 Tax-exempt bond liabilitiesStart of year $0$0
X-24 Unsecured notes and loans payableStart of year $0$0
X-25 Other liabilitiesStart of year $9,528,338$9,129,856
X-26 Total liabilitiesStart of year $108,654,365$121,953,356
X-27 Net assets without donor restrictionsStart of year $411,351,893$454,528,913
X-28 Net assets with donor restrictionsStart of year $0$0
X-32 Total net assets or fund balancesStart of year $411,351,893$454,528,913
X-33 Total liabilities and net assetsStart of year $520,006,258$576,482,269
Part XI · Reconciliation of net assets $454,528,913 net assets at year end
XI-1 Total revenue$9,515,424
XI-2 Total expenses$4,319,754
XI-3 Revenue less expenses$5,195,670
XI-4 Net assets at start of year$411,351,893
XI-5 Net unrealized gains (losses) on investments$4,604,769
XI-7 Investment expenses−$22,539
XI-9 Other changes in net assets$33,399,120
XI-10 Net assets at end of year$454,528,913

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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