CIRI's history is a story of remarkable leadership, good fortune and success. But it hasn't always been easy for the corporation. There were many dark days in the early years when only a few people dared to dream of what CIRI could become.

The corporation's first obstacle was finding a way to get its land entitlement, and to accomplish this difficult feat by overcoming huge obstacles placed in its path by government agencies.

Former CIRI President Roy Huhndorf has described the first five years under the Alaska Native Claims Settlement Act as a "wholesale, unending, bitter struggle." "It seemed almost as though the Department of Interior was trying to undo by administrative fiat what Congress had done in the law," he said.

Monroe Price, CIRI's first attorney, talked in detail about the early years at CIRI's June 8, 1984, annual meeting. He divided the history to that point into three phases. Price called the first phase: "Turning Adversity to Opportunity."

"In 1973, the Secretary of the Interior had withdrawn lands for Cook Inlet Region, Inc., that were mostly mountaintops and glaciers. I remember very well Andy Johnson, who was the president at the time, putting together a notebook that showed the withdrawals in the Cook Inlet Region and showed how the birthright of Cook Inlet Region was poor indeed. It was as if the settlement was all for naught," Price said.

Price explained that the lack of available lands haunted the board and officers of the corporation. "How could it develop assets for generations yet unborn based on this paltry birthright that the secretary was providing to it?" Price asked.

In addition to the lack of available lands, Price said CIRI's other key obstacles in its first phase were government opposition to the corporation and the fact that CIRI had not yet developed an identity or a plan for its future.

Remarkably, CIRI overcame each of the difficulties, most notably the troublesome land issue. "Cook Inlet did in fact do something which I think was not true of any other Native corporation in Alaska. Instead of having the government define what assets would be the birthright of the corporation, Cook Inlet decided what would be its dowry and birthright and obtained the agreement of the U.S. Congress, the Alaska Legislature and several courts," he said. As a matter of fact, Price noted that the Cook Inlet Land Exchange was one of the largest land transactions in the history of the United States.

Shareholders Age With Corporation

In 1971, many CIRI shareholders were under the age of 30. Today, 30 years later, a majority of the shareholders are between the ages of 30 and 60.

According to Price, the second stage of CIRI's corporate life was the implementation of the Terms and Conditions of the Cook Inlet Land Exchange.

"The assets of the corporation became like a machine that creates value when well oiled and well tended," he said. At the same time, he noted that in the second phase, CIRI began to define its identity and business operations and additionally to develop positive relationships with government entities.

Price credited the stability of CIRI's management with the success of the second phase, as well as the fact that CIRI's leaders have been able to dream big dreams - dreams that CIRI would play a significant role in the economy of Alaska.

The third phase of CIRI's history was its concern with the needs of the shareholders and the way that it dealt with the issue of charting the corporation's future after 1991. It was in that phase that major amendments were passed to ANCSA that allowed Native corporations to remain Native-owned and controlled. When the issue came before CIRI shareholders, they voted to remain a Native corporation.

The next phase of CIRI's success focused on continued diversification and building from its foundation. CIRI's history has been remarkable because of the stability in its board of directors, leadership and management team. Through the years, they have developed a key strategy in CIRI's business success, which has been to team with successful, reputable and expert business partners.

Business endeavors have been only part of the CIRI story, however. Throughout the 1980s and into the 1990s, the corporation developed an extensive infrastructure of non-profit organizations to deliver social, health, housing and other benefits. The programs and services offered by these organizations are designed to improve the quality of life of the Native community and perpetuate and celebrate Native cultures, traditions and heritage. They include The CIRI Foundation, Cook Inlet Tribal Council, Alaska's People, Southcentral Foundation, Cook Inlet Housing Authority, and Koahnic Broadcast Corporation, the Alaska Native Justice Center and the Alaska Native Heritage Center. These organizations serve CIRI shareholders, Alaska Natives and American Indians in the Cook Inlet region. Several of the non-profit organizations have achieved local and national recognition for the quality of their social services and cultural programs, and they have developed a statewide mission.

CIRI Ethnicity: A Melting Pot

This graph depicts the ethnic make up of CIRI shareholders at the time the corporation began.

In the 1980s, the corporation's real estate portfolio became the cornerstone of investments throughout the United States and helped ensure that the corporation continued its practice since the corporation's early days of diversifying investments. Over time, CIRI grew its assets to the point where it was no longer dependent on the land for investment and growth.

In 1986, CIRI acquired its first television station. With subsequent television and radio acquisitions, the corporation became one of the country's largest minority-owned broadcasters.

In the 1990s, CIRI focused on investing a portion of its assets in investments expected to provide the cash flow necessary to pay dividends each year, including real estate income properties; oil, gas and mineral royalties; and investment securities.

In the mid-1990s, CIRI repositioned from radio and television broadcasting into the wireless telephone industry with two leading national partners. CIRI identified the emerging wireless telephone business as an attractive though high-risk investment opportunity. The company invested in digital wireless services, in partnership with companies. The company also began the process of building an Alaskan tourism business.

The year 2000 marked the ninth consecutive year of increasing profitability for CIRI, and it was the year in which a large special distribution from CIRI's VoiceStream investments was made to CIRI shareholders. The historic payout totaled nearly $314 million and equaled $500 per share. Shareholders owning 100 shares received $50,000 checks. In 2001, CIRI distributed $94.3 million in dividends to shareholders to complete the distribution to shareholders from CIRI's VoiceStream shares.

Over nearly 30 years, CIRI has paid $116,000 to the average shareholder owning 100 shares. The corporation has distributed $727.7 million in cash to shareholders, while still maintaining growth.

Throughout its history, the commitment of the board of directors and management team has been to build a set of enduring financial, social and cultural institutions that give CIRI shareholders pride and strength as Alaska Natives.

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