Welcome to 2019 edition of the Annual Report for your LNIB Development Corporation. Within these pages you will find reports and articles covering the company’s activities over the past year, and a look forward at the work in progress or on deck for us.
A note on the Development Corporation’s structure. LNIB Development Corporation is owned 100% by Lower Nicola Indian Band. The Dev Corp itself has a number of subsidiary companies, some of which most readers will be familiar with, such as Shulus Forest and Shulus Farms, and some whose names you may not have heard before.
We are undergoing a corporate restructuring. We have a legal and tax model that works for us regardless of the types of businesses we pursue, and we want to ensure that the model is applied for all businesses under the Dev Corp umbrella. Page 2 of this report features a chart that illustrates all of the companies that comprise the Dev Corp group. This chart is over-simplified, providing only a snapshot of the basic ownership and reporting relationships. For a more detailed, accurate picture please see Appendix A of this report. As Albert Einstein wrote, “make everything as simple as possible, but no simpler.” We hope you enjoy the report.