How NDC’s Renay Dossman supports entrepreneurs as a nonprofit leader

Renay Dossman didn’t set out to work at a nonprofit, let alone lead one. Yet the Chicago native is now president and CEO of the Neighborhood Development Center (NDC), helping local entrepreneurs transform their ideas into sustainable businesses.

NDC, a community development financial institution founded in 1993 by Mihailo Temali, primarily serves entrepreneurs of color, immigrant business owners, and underrepresented or underinvested entrepreneurs in specific Twin Cities neighborhoods, Dossman said.

After her mother died, Dossman moved from Chicago to Duluth to live with her brother, attending high school and college there. She earned a degree in accounting, worked at Cargill as an accountant and auditor for two years, and spent more than 21 years at Target in merchandising roles, eventually leading the food trend design team. She then moved to Florida to help build new retail store concepts, including African American, Hispanic and fresh food concepts.

Back in Minnesota, Dossman and her husband provided long-term supportive housing for homeless men and opened a restaurant, which they closed shortly before the COVID-19 pandemic.

“I quickly figured out, ‘I don’t know if I want to spend every day in this restaurant,’” she recalled.

After a brief stint at another nonprofit, she re-evaluated her career path.

“I was just like, ‘I’m going to be obedient. And, Lord, where do you want me to use my gifts and talents that you’ve blessed me with?’” she said. She felt led to check the Minnesota Council of Nonprofits.

After speaking with NDC’s founder and meeting with team members, she felt nonprofit work was something she could do. Her background in finance, retail and executive coaching, along with her experience as a restaurant owner, made the role a natural fit, she said.

NDC supports business owners through four core pillars. The first is training, which educates a couple hundred entrepreneurs each year on operations, legal setup, accounting, branding, marketing and technology. The second is business development services, providing about 5,000 hours of direct technical assistance per year.

The third is lending. Rather than relying strictly on credit scores, NDC offers affordable, character-based loans to founders who may lack traditional financial backing or wealth networks.

The fourth is commercial real estate. NDC operates five small-business incubators, including the Midtown Global Market, where entrepreneurs can launch and maintain physical locations without mandatory exit deadlines. NDC also operates incubators at its St. Paul headquarters, 625 University Ave. W., and across the street.

“You get wraparound services and ongoing support,” Dossman said.

NDC is also expanding into a fifth pillar, advocacy, working to ensure entrepreneurs have a voice in government decision-making and access to public resources.

“I should be the person clearing the obstacles,” she said of her role. “What are the barriers? What are the roadblocks? How can I come in, and how can I clear those up?

“My biggest opportunity is to make sure that we are on track, that we’re all aligned, that we have clarity and accountability, and that we’re moving forward courageously to do this work.”

To support her team’s well-being, Dossman begins NDC meetings with expressions of gratitude.

“It’s very important to me that we have a team that feels supported, seen and heard, because this is hard work,” she said. “You’re out in the community doing work where you face systemic racism daily. How do we make sure our cups stay filled?”

Dossman encourages team members to lead from their natural talents rather than focusing on deficits. Drawing on CliftonStrengths, she identifies her own top strengths as Arranger, Woo (winning others over), Strategic, Positivity and Communication.

“My focus was always on relationship building,” she said. “How do I use those strengths to help me lead, and how do I help everyone else on the team lean into theirs? That is how we build a strong team.”

She also emphasizes authenticity as a Black executive.

“Our team is very diverse and reflects the communities we serve,” she said. “I don’t take this responsibility lightly. I know that I am in a position of privilege, and I am grateful for that. But I show up as myself.

“As a Black woman, I know there are stereotypes, but it’s important for me to reach back and bring others up,” she added. “That means ensuring my team is fairly compensated and supported. It also means mentoring other Black leaders doing this work. My calendar is busy, but whenever I connect with an emerging leader, I let them know: ‘If you need me, I’m here.’”

For entrepreneurs, Dossman stresses self-care, support systems and avoiding predatory financial practices.

“You can’t just lead the team and not take care of yourself,” she said, adding that she has been focused on her health through the gym, meditation and devotionals.

She cautions against high-interest, short-term predatory loans during tight financial moments.

“Let’s talk before you hit that button,” Dossman said. “It’s on us at NDC to move faster so founders can access the capital they need for payroll or expenses without turning to predatory options.”

Her top recommendation for emerging leaders is to build a “personal board of directors.”

“Don’t be afraid to ask for help,” she said. “You have to build your network … Some people are on your board for a season; others are ride-or-die for the long haul. Identify what you need for the stage you are in.

“Use your resources, reach out, and be a resource for others. That is how we grow, and that is what we have been doing in the Black community forever. We support each other.”

For more information on the Neighborhood Development Center (NDC), visit www.ndc-mn.org/. 

Damenica Ellis welcomes reader responses at dellis@spokesman-recorder.com.

On the Radar highlights established Black-owned businesses and the people behind them. To have your business considered for a future feature, email dellis@spokesman-recorder.com.