Tribal Councils Investment Group of Manitoba Ltd.

In the Fall of 2014, Heather Berthelette, the recently appointed COO of Tribal Councils Investment Group of Manitoba Ltd. (TCIG), was preparing a recommendation to the Board of Directors about whether to dissolve the company and return any remaining funds to the seven Tribal Councils that were the firm's shareholders or rebuild the organization. The firm was founded in 1989 with an investment of $175,000, $25,000 from each of the seven Tribal Councils, that collectively represented 55 Indigenous Nation communities and over 100,000 citizens. TCIG was dedicated to the economic and social development of member First Nation communities by placing strategic investments in the mainstream economy for the long term. The firm aspired to provide a reasonable return, generate a solid foundation of wealth and employment opportunities, and create a capital pool for sustainable economic development. The firm grew to over $100-million in revenue and then everything collapsed and the firm was placed under the control of a manager receiver. The case considers the rise and fall of TCIG, corporate governance practices in the context of a consortium, the role of the board in managing risk, and the feasibility that one firm can pursue both community social development and community economic development.