About Us

History

The National Institute of Minority Economic Development (The Institute) was founded in 1986 as the North Carolina Institute of Minority Economic Development with a grant from the Z. Smith Reynolds Foundation and N.C. Association of Minority Businesses to diversify North Carolina’s business base as a strategy for expanding economic opportunity.

Business, government, and community leaders recognized then that globalization, changing demographics, and technology were changing the game, replacing traditional industries and markets with new ones that required different skills and strategies for business success.

Engaging significant untapped segments of the population – racial minorities, women, people with disabilities, rural residents, and others – became a business and economic imperative. The Institute would lead the way.

Today, more than 35 years later, the Institute remains the only organization of its kind in the country focused on business and economic growth through effective business diversity. North Carolina's model of collaboration and its exceptional ecosystem are recognized as a model by other states and regions.

The Institute continues to work with small businesses, large multinational corporations, local governments and state leaders to open doors of opportunity and create an environment where businesses of all kinds grow and thrive.

In Remembrance of the Legacy of Ms. Andrea Harris, Co-Founder of the Institute

What Sets Us Apart

Focus on Diversity – The Institute -- the only organization of its kind in the country -- offers over 35 years of experience helping clients harness the power of diversity to achieve business and economic objectives.
Business Knowledge and Expertise – We bring deep industry knowledge of how to help businesses of all kinds start and grow; business owners turn barriers of race, gender and disability into opportunity; companies diversify their supply chains; and communities broaden their business base.
Proven Methods – We help clients develop the three core elements -- money, markets and management -- required for business success. Uniquely, we integrate critical diversity management strategies every step of the way, helping clients connect with broader pools of high-quality vendors and suppliers, and successfully enter new high-potential markets.
Broad Networks – Our extensive network of investors, partners and clients developed over three decades connects clients with business assistance and opportunity for achieving their business objectives.
Passion and Commitment – As a nonprofit, our bottom line is helping clients become more successful and America become more prosperous by getting business diversity right.
Opportunity – The Institute will seize every opportunity to be of service to those of us in the greatest need, such as minority groups, under represented and under-served populations, low to moderate income communities and individuals. We consider it a privilege to be of service.

Contact the Institute to learn more or get help growing your business and diversifying the marketplace.

Architects reviewing Honda office expansion plans.

Our Parrish Street Building

The Institute's headquarters in downtown Durham, N.C. anchors the heart of what was once known as "Black Wall Street," home to some of the nation's largest minority-owned financial and related institutions.

Placed on the National Register of Historic Places in 1974 and later designated a National Historic Landmark, the building remains one of only a handful of landmarks owned by a minority organization.

The North Carolina Mutual Life Insurance Company built the neoclassical, revival-style structure at 116 West Parrish Street in the center of Durham's business district as the company's second home. The building was officially dedicated on Saturday, December 17, 1921 after its completion in October of that year. In 1922, Mechanics and Farmers Bank moved its headquarters to the first floor.

The Institute purchased the building in 1999 and in 2008 restored the building's facade – windows, frames, and balconies – with a $100,000 grant from the U.S. Department of Housing and Urban Development and a $500,000 appropriation from the North Carolina General Assembly. A capital campaign is under way to continue renovations to restore the exterior entryway to its original condition and to upgrade interior spaces and infrastructure.

Today, the Institute shares this historic space and Parrish Street attraction with a M&F Bank branch, the first floor anchor tenant, and several other businesses.

N.C. Mutual Life Insurance Co. building.

Leadership

The Institute's leadership team of nationally recognized experts brings deep knowledge, broad networks and strong commitment to the work of creating companies that are stronger and more profitable because of their diversity.

Kevin J. Price

President & CEO

Kevin is the third president and chief executive officer of the National Institute of Minority Economic Development in Durham, NC. The Institute, a 37-year-old nonprofit management consulting and services firm, is focused on business diversity and inclusion. They are trusted advisors to businesses large and small, government agencies, policy makers and organizations that understand the key roles diversity and inclusion play in ensuring business and economic success. Their client services include customized one-on-one assistance, training, knowledge, networks and solutions that create diverse, globally competitive companies. The Institute is an award-winning organization and leading voice and constant advocate for public policies and business practices that promote marketplace diversity and inclusion. In June 2020, The Institute successfully merged with the North Carolina Community Development Initiative and rebranded it as Institute Capital (ICAP). ICAP is a community development financial institution, providing vital financing to diverse businesses, community development corporations and HBCUs throughout the state. Both organizations are headquartered in Durham, NC on Parrish Street, which was once known as the “Black Wall Street” of the south.

Price’s career has been steeped in community economic development for over 30 years. He joined The Institute as a veteran business leader in healthcare, supplier diversity, faith-based affordable housing, community development and commercial banking. Immediately prior to joining The Institute March 9, 2020, Price was Senior Director of Supplier Diversity & Performance Analytics at Novant Health for 14 years. While there, he launched their supplier diversity activities, growing spend by more than 500% utilizing over 550 diverse suppliers resulting in over $1 billion in spend since its launch in 2006, automated Tier I and II reporting, encouraged numerous majority/diverse joint ventures, collaborated with the Tuck School of Business at Dartmouth to add a healthcare component to their Minority Executive Training program for six consecutive years and launched a $5 million loan guarantee program for diverse suppliers, in partnership with M&F Bank. Price also served as a master diversity and inclusion facilitator/trainer for the company.

Tanya Branch

Chief Financial Officer

Kaye Gantt

Executive Vice-President and Chief Operating Officer

As a member of the Institute’s Executive Management Team, Ms. Kaye Gantt oversees the organization’s ongoing operations at multiple locations within and beyond the state of North Carolina. Ms. Gantt is responsible for implementing business strategies, plans and procedures; establishing policies that promote the organization’s culture and vision; managing relationships with partners and vendors; and working with programs to manage and achieve program goals and objectives. Ms. Gantt provides the leadership, management and vision necessary to ensure the organization’s operational controls and administrative systems are working efficiently and effectively, promoting the financial strength and growth of the organization. Ms. Gantt has an extensive background in banking operations and finance including commercial and retail lending, and holds numerous credentials, her most recent being a Master in Business Administration from the University of North Carolina at Chapel Hill's Kenan-Flagler Business School. She also holds a Project Management Diploma from NC State University's Department of Civil, Construction, and Environmental Engineering, and Master Compliance Administrator (MCA) from Morgan State University.

Board of Directors

Nikitra Bailey

Executive Vice President
National Fair Housing Alliance
Washington, DC

Nikitra Bailey is an executive vice president at the Center for Responsible Lending (CRL), the policy affiliate of Self-Help, the nation’s largest community development lender. Ms. Bailey plays an integral role in developing and driving the strategic direction of the organization’s consumer protection and fair lending agenda as a member of the executive team. She advances national and state public policy reforms that provide access to safe and responsible credit on affordable terms for families and communities traditionally underserved by the banking system. She leads mortgage advocacy and is the principal strategist for coalition partnerships that span civil rights, faith, women, labor, and community advocates across the nation. In addition, she oversees CRL’s resource development efforts. Ms. Bailey is the author of numerous reports and articles on predatory lending’s impact on people of color and women and a frequent media contributor to the New York Times, American Banker, Washington Post, and the National Newspaper Publishers Association outlets. She has also served as an expert witness to the House Financial Services Committee on housing finance reform and mortgage lending discrimination. Currently, Ms. Bailey serves on the Consumer Financial Protection Bureau Consumer Advisory Board, as vice-chair of the NC Housing Coalition, and as a board member of the NC Institute for Minority Economic Development. She is a member of the Insight Center's Closing the Racial Wealth Gap Initiative Experts of Color Network. Ms. Bailey holds a J.D. from the University of Pittsburgh School of Law, and a B.A. from the Pennsylvania State University.

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Tyrone R. Baines, PhD, Secretary

Supplier Diversity Consultant (Retired)
American Honda Motor Company
Durham, NC

Dr. Tyrone Baines chairs the Board’s governance and personnel committees. He has a history of service in higher education as he established the Public Administration Program at North Carolina Central University and served as Executive Assistant to the Chancellor. Dr. Baines has served in numerous leadership positions in professional academic organizations, and helped to guide and grow a national organization of public administrators. He left higher education to serve as a program officer with the Kellogg Foundation from which he has now retired. Dr. Baines has continued service as a consultant to a major automobile manufacturer with a focus on building and expanding supplier diversity initiatives and result from the company.

Martin Eakes

Chief Executive Officer
Self-Help / Center for Responsible Lending
Durham, NC

Mr. Martin Eakes is Founder and President of the Center for Community Self-Help. Self-Help is the largest development bank in the country with assets of over $1 billion. Self-Help provides loans to support neighborhood development, commercial development in low-wealth communities, and home ownership. Self-Help is a national leader in affordable housing and is a model for community development credit unions. In partnership with several large traditional lenders/banks, Self-Help has established a secondary mortgage program that positions banks to more than double lending for low-moderate income home mortgages. Self-Help created and has led the most accomplished development bank in the nation, Self-Help Credit Union. It has also helped to established Generations Credit Union, a base of older community based credit unions, along with the largest and fastest growing credit union in the nation, the Latino Credit Union. Mr. Eakes established the Center for Responsible Lending, and is a leader in addressing issues of predatory lending and mortgage foreclosure. He is a member of the Institute’s small business loan committee.

Ted Edwards

Principal
The Banks Law Firm
Durham, NC

Mr. Edwards graduated from Duke University with a double major in Political Science and Sociology. He also received his Juris Doctor degree from the Duke University School of Law. Mr. Edwards focuses his practice on commercial litigation and is a certified mediator. In 2006, Mr. Edwards was awarded the William L. Thorpe Pro Bono Attorney Award by the North Carolina Bar Association, which recognizes attorneys who provide exceptional pro bono legal assistance to low-income citizens in North Carolina. In 2011, he was selected for the North Carolina Bar Association’s Citizen Lawyer Award which honors attorney for exemplary public service activities. In 2012, Mr. Edwards served as President of the Wake County Bar Association. Mr. Edwards is currently serving as a member of the North Carolina State Bar Council.

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Edward Fort, PhD

Chancellor & President Emeritus, Professor of Education
North Carolina A&T State University
Greensboro, NC

Dr. Edward Fort is an Endowed Professor and the Retired Chancellor of NC A&T State University. For more than 15 years, Dr. Fort led this institution, the largest Historically Black College/University in North Carolina, to record growth in curriculum, student enrollment, faculty, and programs. He helped to develop the institution’s engineering program to produce more engineers than any other HBCU in the country. Dr. Fort worked to expand and build the business school, school of agriculture, school of education, and nursing programs at the university. He has worked to broaden relationships between higher education institutions and community residents, as well as with major corporations. Dr. Fort continues to write and to serve as a professor at the university.

DEGREES:

Doctorate in educational administration, University of California-Berkeley
Honorary Doctorate of Laws degree, Wayne State University, Detroit, Michigan
Master’s degree in educational administration, Wayne State University
Baccalaureate degree in history and education, Wayne State University

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Karla E. Haynes

Executive Director
Cleveland County Community Development Corporation
Shelby, NC

Karla E. Haynes is Executive Director of Cleveland County Community Development Corporation, the developers of a 60 single-family subdivision, Heritage Oaks, a 48-unit affordable apartment complex Caitlin Station, and Kings Row, a 56-unit affordable apartment complex, in Kings Mountain, NC. She has been employed with CCCDC for 25 years. She was previously employed by First National Bank for over 3 years as a teller and commercial loan assistant. (January 1988 - March 1991) and Carolina State Bank, now Fifth Third Bank as Senior Account Representative for 7 years (March 1991- March 1995 fulltime) (April 1995- April 1997 part-time). During her banking career she processed loan applications, retrieved credit reports, set up Individual Retirements Accounts (IRA’s), processed customer transactions, and taught Financial Management to high school juniors.

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Adam Klein

Associate Vice President for Economic Development
Duke University
Durham, NC

Adam Klein is Director of Strategy for Capitol Broadcasting Company--a diversified communications company which owns and operates businesses in television, radio, commercial real estate, technology entrepreneurship, and residential building supplies. He is based in Durham, N.C. — a city that is capturing the national imagination with its Silicon Valley vibe and location just minutes from the world-famous Research Triangle Park.

Prior to his role as Director of Strategy, Klein led The American Underground, a campus for entrepreneurs started by Capitol Broadcasting. Under Klein’s leadership, Google for Entrepreneurs designated The American Underground as one of only eight sites in the country to be part of its Tech Hub network. And at a time when cities are struggling to reinvent themselves, The American Underground has become a national model for how to transform a once-depressed downtown into a magnet for high-growth companies.

Prior to The American Underground, Klein was Director of Strategic Initiatives for the Greater Durham Chamber of Commerce. He led the Chamber’s entrepreneurship efforts, working to accelerate Durham’s position as the hub for entrepreneurship in the Southeast. Klein co-founded two initiatives, the Bull City Startup Stampede and The Smoffice, which brought nearly 40 startups to downtown Durham and earned national media attention as well as “The Most Unconventional Economic Development Project in the World” award from the World Chambers Congress in Doha, Qatar. Both initiatives were launched for less than $20,000 total.

Adam Klein is originally from Brecksville, Ohio and received his undergraduate degree from Denison University where he was a two-time Academic All-American in golf. He holds a Master of Regional Planning with a specialization in economic development from the University of North Carolina at Chapel Hill. He and his wife, Manda, live in Durham with their three daughters

Suzanne Malone

Chief Executive Officer
Strategies for Small Business

Ms. Sue Malone is the number one provider, SBA Export Express and SBA SLA v.2 and director of marketing for Superior Financial Group. Ms. Malone’s involvement began with the program’s inception in 2002. Since then, she has helped fund over 41,000 SBA loans including Patriot Express loans, Export Express, Community Express and now Small Lender Advantage v.2, and became the largest SBA lender by volume. Her goal is to fund 100,000 small businesses.

Ms. Malone travels the nation meeting, promoting and funding small business owners especially minority, women and veteran owned businesses. She is fueled by her passion to help small business owners pursue their dreams. Ms. Malone has received numerous awards for her contribution to the success of small businesses around the nation. She has been the number one lender to minority owned business by volume under SBA.

Ms. Malone sits on several national boards focused on veterans and entrepreneurship including the President of the nonprofit American Economic Empowerment and co-founder of Women’s Military Exchange: Operation Next Step. In addition, she is one of the founders of VetPower.org and Vet-Power.org., both focusing on giving veterans an opportunity for entrepreneurship and job seeking. In addition, she has authored several of the government loan programs which are used across the nation along with private equity and private investment programs for America’s small businesses.

Ms. Malone is the President and CEO of the on-line company www.nationallienlaw.com which helps contractors across the nation with easy and cost efficient lien forms.

Lewis H. Myers, Chairman

Principal and Director, Market Development (Retired)
Perkins+Will
Durham, NC

Mr. Lew Myers is Director of Marketing for the Freelon Group. The Freelon Group is recognized as one of the most up and coming firms in America. In 2008, the Freelon Group was recognized by Contract Magazine as The Designer of the Year. The firm is also the recipient of the AIA North Carolina Outstanding Firm Award in recognition of outstanding service and design excellence. They have received awards for work around the country. Prior to joining the Freelon Group, Mr. Myers had his own successful consulting firm, and had served as a vice-president for a construction management firm. Mr. Myers also worked as Assistant Secretary for Small Business, NC Department of Commerce. He is also a founding NCIMED board member and chairs its fundraising committee.

Thurman Smith

Senior Vice President - Territory Executive
Community Development
PNC Bank
Chicago, IL

Michael Suggs, Vice Chairman

President
Goler Community Development Corporation
Winston-Salem, NC

Mr. Suggs is chairman of the Board of Directors for the Goler Community Development Corporation. Under his leadership, Goler CDC has recently undertaken a $100 million redevelopment of the Goler neighborhood just east of downtown to assure inclusion and opportunity. He is the former Senior Director of Public Affairs for R.J.Reynolds. The Goler CDC is a faith based community development corporation that is an outgrowth of the Goler AME Zion Church in Winston-Salem. Mr. Suggs has worked closely with numerous national organizations for women and minorities, and represents the interest of the Institute with national and statewide organizations. He and his wife own and operate a small retail arts and bookstore. Mr. Suggs chairs the Institute’s audit committee.