CARES Disbursement FAQ's
Question: When will CARES funding be available from Kootznoowoo?
Answer: The application period for shareholders to apply for the CARES Act federal funding disbursement will be October 1st through November 1, 2021.
Question: I’m an original shareholder with 100 shares. Why am I getting the same amount of CARES funding as a non-original shareholder with less shares?
Answer: The CARES Act funding is federally funded and is not considered a distribution or dividend. Language in the legislation prohibits Alaska Native Corporations from disbursing the CARES funds on a per share basis.
Question: Why is Kootznoowoo only giving out $125 when I heard other Alaska Native Corporations are giving out thousands of dollars to their shareholders?
Answer: Of the nearly half a billion dollars set aside for Alaska Native Corporations in the CARES Act, Kootznoowoo was allocated by the U.S. Department of Treasury only $168,625. This small amount contributed to how much the corporation was able to pass along to shareholders in the CARES funding. Treasury developed a formula that used criteria which included such factors as numbers of employees and net income in determining the amount each ANC received.
Question: What if the additional expenses I incurred due to covid is more than the $125 that Kootznoowoo is paying out?
Answer: Unfortunately, because Kootznoowoo’s CARES allotment from the U.S. Treasury was so small, we are limited in the amount that we can provide to each shareholder. We encourage you to contact any tribal organization or other Native corporation in which you are enrolled to see if additional funding opportunities are available to you.
Question: Why do I have to apply for my CARES funding through the MyKootznoowoo Shareholder Portal? I’d rather send in a paper application.
Answer: Per the federal legislation, Kootznoowoo is required to spend or payout the CARES funding by the December 31, 2021, deadline. Due to limited staffing, the tight deadline, and the corporation’s commitment to getting shareholders these relief funds as soon as possible, all shareholders are required to apply through MyKootznoowoo which provides the fastest, easiest, and most efficient method for processing applications. Shareholders who need assistance setting up their MyKootznoowoo account or have questions about the application should contact the Corporate Office at (907) 790-2992.
Question: After I complete my CARES funding application, when can I expect to receive my $125 payment?
Answer: Depending on each shareholders payment preference as set-up in their MyKootznoowoo account, payments will be made either by direct deposit or via a mailed hard copy check. Payments will be made each Friday throughout the application period as follows: October 15, 22, 29, and November 5.
Question: Will CARES funding affect SSI benefits?
Answer: No, the Social Security Administration will no longer count Economic Impact Payments including the CARES Act relief funding against eligibility for SSI assistance or payment amount. To learn more CLICK HERE.
Question: Can I apply for my minor child who is a shareholder?
Answer: Yes, parents or legal guardians must apply for any minor child through the MyKootznoowoo shareholder portal. They may do so by selecting the “Ward” box while completing their own application.