History and Mission Statement
In 2002, Lumbee Regional Development Association, Inc established the Lumbee Community Development Corporation, Inc as an “affiliate” non-profit entity to assume and serve as the “economic development arm” of the LRDA. LRDA then assisted the LCDC to begin pursuing grants, and then in 2010 LRDA awarded a facilities maintenance contract to an LCDC for-profit subsidiary with the goal and task to acquire and obtain under the United States Small Business Administration the status of “8a Certification” as a Community Development Corporation, (CDC) owned entity. LCDC had begun receiving grants from the federal government to undertake its’ economic development mission in 2003 and then was also soon certified by the United States Treasury Department as the first American Indian-governed Community Development Financial Institution, CDFI, in the Southeast. LCDC began lending and providing small loans targeting American Indians interested in establishing, or expanding a small business, and loans for improving their quality of housing. LCDC also received grants from the federal DHS Office of Community Services to grow new businesses, and HUD for improving housing for tribal members. In May of 2012 LCDC obtained from the US Small Business Administration, 8a Certification for the first for-profit entity it had established as a subsidiary in 2008, through a facilities maintenance contract to the for-profit from LRDA. This 8a status established LCDC with “perpetual” CDC 8a status similar to Tribes, Alaskan Native Corporations, (ANCs), and Native Hawaiian Organizations (NHO), that hold such 8a status with the SBA. LCDC became the first known such “CDC” to obtain this SBA-certified status on the East Coast. Currently, LCDC can stand up other for-profit ventures to grow jobs and revenue with its’ SBA-approved CDC 8a status. LCDC’s primary mission within its 8a Division is to create jobs through the growth of revenue by accessing the private sector, State and federal government 8a and non-8a, contracting opportunities at Fort Bragg, now Fort Liberty, and other nearby military installations in SC, Virginia, and Georgia. Excess profits of the for-profit subsidiary companies that may accrue under the economic development non-profit mission of LCDC, are to be returned to the parent non-profit entity LRDA, by LCDC, as determined by the LCDC board of directors, to support the ongoing broader community and social services mission of LRDA. Any for-profit subsidiaries created by LCDC may be 100% owned by the non-profit under State and federal IRS law. Lumbee Community Development Corporation is controlled by a five-member board of directors, and staff, who brings professional expertise to the LCDCs’ designated economic development mission work.