Following the U.S. Supreme Court ruling this summer that Alaska Native Corporations (ANCs) were eligible for payments from the 2020 CARES Act Coronavirus Relief Fund, Maserculiq Incorporated has received funding on behalf of its Shareholders. The corporation received $244,060.47 as its total allocation.
The majority of these funds were deposited to shareholders prior to the December 31, 2021 deadline.
The U.S. Treasury had very strict guidelines on how this funding could be used. For example, a special dividend was not allowed. Using funds to offset lost revenues was not allowed. Bonuses were not allowed. All payments from the CARES Act Tribal relief funds were to be directly related to the current pandemic. Reporting to Treasury on how funds are used was required and has been accomplished. Treasury has stated that organizations should expect audits on how funds are used.
Please direct your questions to office@maserculiq.com. All questions will be addressed in a timely fashion.