2026 Board Report
NEXT BOARD MEETING
Friday, April 17, 2026
9:00am - 1:00pm MDT
Virtual - link to Google Meet
Spring Board Meeting Agenda
Agenda:
► State of Change Labs
► Status of three-year strategic objectives & earned revenue models
► Change Labs salary strategy
► Transition planning
We exist to remove the institutional barriers to entrepreneurship, erode social barriers, and expand access to capital for Native American families choosing to expand their own livelihoods.
Here’s how we do it.
1.
Build community and networks by offering a safe, creative, and culturally relevant space that celebrates entrepreneurship -- workspace, tools, training, resources.
3.
Publish our data about the nature of Native owned businesses and the business environment on the Navajo Nation. Become a go-to source for thought leadership on Native entrepreneurship.
2.
Support and finance select business ideas that fill market gaps. Demonstrate success rates that make the process competitive. Cultivate future business leaders and role models.
4.
Provide loan capital to entrepreneurs, artists, and vendors on Navajo and Hopi that otherwise wouldn’t have access to traditional capital.
YTD Financial Health
Team Development
In addition to tracking retention, learning, and performance, we also conduct a summer survey to get feedback from the team on how they feel about working at Change Labs. Here are the results from the 2025 Summer survey.
Investing in Native people
Investing in Native people, businesses, and vendors is critical to our mission.
In 2025 we accrued $1,592,495 in organizational expenses and 84% ($1,337,847) was invested in Native staff, professional development for Native staff, Native contractors, vendors, and small business owners.
Other ways we evaluate our impact
► PROGRAM IMPACT
We employ a third-party impact evaluation firm to track several indicators for the Incubator, Kinship Lending, and our E-ship Hub activity. Indicators are collected on a regular basis and inform our annual evaluation report.
► FINANCIAL IMPACT
In addition to tracking indicators for our programs, we also measure “success” by organizational income and how much of our income is directly invested in Native people, vendors, and small business owners.
► COMMUNITY IMPACT
Finally, Change Labs has a broader impact on the community we serve that goes beyond our programs and our finances. Are we measurably making it easier to be a business owner on the Navajo Nation? To answer this question, Heather has been working with our evaluation team to draft a “report card” to review in each Board meeting.
If you have more thoughts and ideas on how Change Labs should think about its impact, email Heather.
Our programs
E*ship Hubs
We drive the Native economy upwards by creating a modern & creative space to hone business skills, cultivate knowledge, and grow a strong community of Native entrepreneurs. In 2026 the E-ship Hubs will center our programming, serving as the physical support for interactions with entrepreneurs
2026 Budget: $631,196
Workshop attendees in 2025: 900
Tuba City E-ship Hub visitors: 453
Entrepreneurs served in 2026 (target):
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Business Owners on the reservation experience:
Limited resources and information needed to make decisions about the markets they work in.
Lack of support from a strong business community.
Difficulty grasping financial concepts due to a lack of knowledge and/or discomfort discussing money.
The onus of understanding complex and opaque tribal policies as well as managing inconsistent, conflicting, or miscommunicated procedures.
The emotional labor of reconciling culture, values, and tradition with each business decision.
In addition, the lack of physical capital and space to do business results in a number of challenges, including:
Unreliable internet service
Increased feeling of isolation and smaller support communities
Lack of exposure to technology tools & business trends
Difficulty in applying for an EIN and receiving packages
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We deliver business knowledge, entrepreneurship coaching, access to workspace, and cultivate a community for entrepreneurs. Our workspaces serve as a hub of technical assistance, business incubation, and network-building, providing constant exposure to Native entrepreneurial role models, resources, relevant training.
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Our workspaces serve entrepreneurs at all levels of business maturity, but our resources are designed to support entrepreneurs with achieving business growth.
Kinship Lending
Provide access to equitable capital for Native entrepreneurs through relationship-based lending and NSBCI programming. This budget funds the costs to administer all three loan products: Kinship Microloans ($10k and under), Kinship NSBCI Loans ($10k-$50k), and NSBCI Loans ($50k +).
2026 Budget: $520,889
# of loans deployed in 2025: 28 borrowers (Target: 60)
NSBCI allotment deployed (to date): $604,532 (Target: $1.5M in LGP)
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Native entrepreneurs experience difficulty getting approved for business loans, especially those based on Native land. Lack of collateral, financial statements, or an articulated business plan are some of the common reasons. Interest rates on unsecured loans are higher than unsecured loans, resulting in increased expense for Native entrepreneurs.
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We provide kinship-based low-interest loans to Navajo and Hopi entrepreneurs in need of working capital. Loans are coupled to a six-month cohort-based financial education program and one-on-one business coaching. We incentivize consistent loan repayment with 25% loan forgiveness.
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We target entrepreneurs operating on Navajo or Hopi Nation with an existing business that is generating revenue. Our average loan size is $5,000, but we seek prospective borrowers in need of working capital between $2,500 - $50,000.
NSBCI TA
Empowers Navajo entrepreneurs with the skills, tools, and support needed to access capital and grow sustainable businesses across the Southwest. This is a new and temporary program funded by the Navajo Nation’s SSBCI TA allotment ($1M).
2026 Budget: $411,221
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This lack of access to capital for Native entrepreneurs across the Southwest is compounded by limited financial training, scarce local business services, and systemic barriers that leave Native entrepreneurs underprepared or ineligible for funding opportunities. Change Labs’ SSBCI Technical Assistance Program addresses these challenges by helping entrepreneurs build financial readiness, strengthen business skills, and navigate the path to loan approval and sustainable growth.
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Our NSBCI Technical Assistance Program will offer hands-on, culturally grounded business support that prepares Navajo entrepreneurs to successfully access NSBCI loans. Through workshops, one-on-one coaching, and individualized loan readiness plans, we help business owners strengthen financial management skills, develop solid business plans, and build confidence in presenting their ventures to lenders.
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Navajo business owners and nonprofit leaders who assembling the necessary business documentation to secure an NSBCI loan as well as approved borrowers who need targeted assistance to support loan repayment and/or business growth.
Regenerative Equity Fund
The Fund provides flexible, community-centered investment capital to Navajo entrepreneurs, supporting locally rooted businesses that create sustainable economic opportunity and social impact, while complementing our loan programs through blended capital solutions.
2026 Budget: $429,112
2026 goals: Design the fund, fundraising & partnership development, and host three workshops centered around investment-readiness
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Many locally rooted businesses cannot access traditional venture capital or conventional loans because they operate outside Silicon Valley investment norms, lack conventional collateral, or prioritize community impact over rapid growth. Without patient, flexible equity, these businesses struggle to scale, innovate, or create sustainable economic opportunity.
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By providing non-traditional, culturally aligned equity investment, the fund enables entrepreneurs to grow their businesses, retain local ownership, and generate long-term social and economic benefits for the Navajo Nation, while creating opportunities to blend equity with loan capital for greater flexibility.
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Navajo entrepreneurs who are seeking flexible, non-traditional capital to grow sustainably. It is designed for business owners who value long-term economic and social benefits, and are committed to retaining local ownership and cultural integrity, but may not fit conventional venture capital or lending models. The fund particularly supports entrepreneurs ready to leverage blended capital—including equity and loans—to strengthen operations, scale responsibly, and create opportunities in our communities.
Policy & Advocacy
We conduct the research and collect the data needed to advocate for evidence-based policy changes to support the Navajo small business environment on the Navajo Nation. In 2026, our policy advocacy program will focus on three things: 1) hosting a presidential forum on the Navajo Economy, 2) redesign Build Navajo to integrate Change Labs branding an improve UX, 3) support attendance at three Council Sessions to ensure Delegates are informed on NSBCI.
2026 Budget: $63,962
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Doing business on the Navajo Nation is not easy. There is countless commentary as well as published studies on market deficits and the complexity of the business regulatory environment, but this has not had a significant effect on policy reform or improvement to the regulatory environment.
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Our policy work is always in partnership with other stakeholders. But despite how we focus our efforts in a given year, the objectives are always consistent:
Develop a nuanced understanding of the major constraints to starting a business on tribal lands to share with allies and potential partners
Contribute to collective activity with like-minded partners and stakeholders to develop a clear plan of action for policy change
Develop a strategic plan for the Navajo economy that emphasizes support for Navajo entrepreneurs
Currently, Doing Business is our only program that generates revenue. Our partners include: ACES School, Dineh Chamber of Commerce, Native Women Lead, NM Community Capital, and Native Community Capital.
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The policies we target impact Navajo entrepreneurs operating on the reservation, whether formally or informally. The educations events we plan target all elected leaders on the Navajo Nation as well as the Navajo small business community. Our commissioned research is in service to the Navajo Nation government and Chapters.
Financial analysis
Change Labs finances
In 2025 we secured $2,989,991 (18.2% increase) in grant funds and $49,060 (16.0% decrease) in public donations. We did not generate service income in 2025, but we generated $4,828 (35% increase) in merchandise and venue rental sales, and $337,720 in investment revenue.
As of March 31, 2026 we have secured $50,000 in new grant funds for the year with $1,160,000 pending grants in our waterway.
Runway & budgetary need
As of March 31, 2026 we have $11,907,510.30 in our accounts, $6,650,000 of which is allocated for NSBCI loans. This leaves a balance of $5,257,510.
We average approximately $134,382 in monthly expenses, which gives us approximately 39 months of runway, assuming all current liabilities.
FINANCIAL STATEMENTS
► 2025 Statement of Activity
► 2025 Statement of Financial Position
Our goals for 2026
Overarching goal
To establish, build, and grow Native American owned business on tribal lands that will diversify economies, build financial stability, and fill identified market gaps in Western Agency communities.
Here’s the link to our 3-year strategic objectives (2025-2027)
How we’re continuing to build financial stability with entrepreneurs in 2026
deploying $6M of our NSBCI programming with the Navajo Nation.
design the pilot for the Regenerative Equity Fund, an equity-like financial product to compliment our debt financing
Redesign our Kinship Lending financial education curriculum to support loan readiness and pre-qualify leads
How we are working to diversify economies in 2026
Increase utilization of Tuba City (40%) and Shiprock (25%) E-ship Hubs
Raising $1,500,000 to expand our campus in Tuba City
Finalizing a focus for Change Labs policy & advocacy work by mapping documented business challenges to what creates the most impact for Navajo businesses with what is feasible for Change Labs to tackle.
Identify the ways that entrepreneurs have developed “workaround solutions” to common business challenges
Educating future Navajo elected leaders on the importance of entrepreneurs in our economy
How we are working to fill market gaps in 2026
Researching the physical and financial capital needs of Native entrepreneurs in our region to explore how Change Labs can fill gaps and keep businesses on the reservation.
Exploring partnerships with tribal enterprises to serve Native businesses in need of strategic support to secure contracts
Studying what makes strategic sense for Change Labs to continue redeploying any funds we secure from our NSBCI deployment.