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Nonprofiteer
← OWEESTA CORPORATION

Form 990 for tax year 2022

Filed by OWEESTA CORPORATION.

Totals

Total revenue
$11,519,423
Total expenses
$7,536,427
Contributions and grants received
$9,647,728
Grants paid
$1,220,619
Program service revenue
$1,684,340
Investment income
$187,355
Other revenue
$0
Total assets, end of year
$81,341,285
Total liabilities, end of year
$57,437,951
Net assets or fund balances, end of year
$23,903,334
Program services expenses (Part IX)
$6,252,680
Management and general expenses
$1,015,708
Fundraising expenses
$268,039
Program service expenses (Part III)
$6,252,680

Program services were 83.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $3,967,868

  • 1f · All other contributions, gifts and grants

    $5,679,860

  • 2a · Program service revenue: LOAN PORTFOLIO INCOME

    total $1,149,746 · related or exempt $1,149,746

  • 2b · Program service revenue: PROGRAM SERVICE FEES

    total $534,594 · related or exempt $534,594

  • 3 · Investment income

    total $187,355 · excluded $187,355

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,220,619 · program services $1,220,619

  • 5 · Compensation of officers, directors and key employees

    total $439,211 · program services $230,124 · management and general $163,707 · fundraising $45,380

  • 7 · Other salaries and wages

    total $1,401,623 · program services $734,377 · management and general $522,428 · fundraising $144,818

  • 8 · Pension plan contributions

    total $18,048 · program services $9,456 · management and general $6,727 · fundraising $1,865

  • 9 · Other employee benefits

    total $127,435 · program services $66,769 · management and general $47,499 · fundraising $13,167

  • 10 · Payroll taxes

    total $138,723 · program services $72,684 · management and general $51,706 · fundraising $14,333

  • 11g · Fees: other

    total $2,529,768 · program services $2,492,395 · management and general $30,758 · fundraising $6,615

  • 13 · Office expenses

    total $86,730 · program services $40,708 · management and general $43,022 · fundraising $3,000

  • 14 · Information technology

    total $171,031 · program services $128,741 · management and general $41,082 · fundraising $1,208

  • 16 · Occupancy

    total $7,314 · program services $3,832 · management and general $2,726 · fundraising $756

  • 17 · Travel

    total $215,666 · program services $175,798 · management and general $17,699 · fundraising $22,169

  • 19 · Conferences, conventions and meetings

    total $208,092 · program services $203,491 · management and general $1,288 · fundraising $3,313

  • 20 · Interest

    total $464,602 · program services $464,522 · management and general $80

  • 23 · Insurance

    total $51,774 · program services $27,127 · management and general $19,298 · fundraising $5,349

  • 24a · Other expenses: LOAN LOSS RESERVE

    total $308,329 · program services $308,329

  • 24b · Other expenses: MISCELLANEOUS

    total $93,010 · program services $45,178 · management and general $47,392 · fundraising $440

  • 24c · Other expenses: PRINTING & PUBLICATIONS

    total $54,452 · program services $28,530 · management and general $20,296 · fundraising $5,626

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $5,082,720 · end of year $3,583,786

  • 2 · Savings and temporary cash investments

    beginning of year $12,804,999 · end of year $22,731,954

  • 3 · Pledges and grants receivable

    beginning of year $1,099,175 · end of year $1,096,889

  • 4 · Accounts receivable

    beginning of year $160,757 · end of year $231,129

  • 7 · Other notes and loans receivable

    beginning of year $40,424,723 · end of year $52,724,593

  • 9 · Prepaid expenses and deferred charges

    beginning of year $50,385 · end of year $44,375

  • 10a · Land, buildings and equipment: cost or other basis

    $97,625

  • 10b · Land, buildings and equipment: accumulated depreciation

    $97,625

  • 11 · Investments: publicly traded securities

    beginning of year $3,837,816 · end of year $928,559

  • 17 · Accounts payable and accrued expenses

    beginning of year $633,628 · end of year $636,273

  • 19 · Deferred revenue

    end of year $150,000

  • 24 · Unsecured notes and loans payable

    beginning of year $42,097,403 · end of year $54,492,032

  • 25 · Other liabilities

    beginning of year $827,093 · end of year $2,159,646

  • 27 · Net assets without donor restrictions

    beginning of year $17,706,168 · end of year $20,122,265

  • 28 · Net assets with donor restrictions

    beginning of year $2,196,283 · end of year $3,781,069

Mission and programs · 2022

Mission

OWEESTA CORPORATION ("OWEESTA") SUPPORTS ECONOMIC GROWTH IN NATIVE AMERICAN COMMUNITIES THROUGH THE CREATION, DEVELOPMENT AND CAPITALIZATION OF COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS.

Activities or mission (Part I)

TO PROVIDE ECONOMIC ASSISTANCE, LOAN CAPITAL AND TRAINING TO NATIVE TRIBES, COMMUNITIES AND PEOPLES.

  • INSITUTIONAL DEVELOPMENT - THE PRIMARY GOAL IS TO HELP CREATE, DEVELOP, EXPAND AND STRENGTHEN NATIVE COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS (CDFIS). ACTIVITIES REFLECT THE PROVISION OF REGIONAL AND LOCAL CDFI WORKSHOPS, PARTICIPATION AND ATTENDANCE AT OTHER INDUSTRY CONFERENCES, PARTICIPATION ON THE CDFI COALITION, AND FOLLOW-UP OUTREACH, TECHNICAL ASSISTANCE AND TRAINING TO TRIBES WHO HAVE EXPRESSED AN INTEREST IN OR ARE IN THE PROCESS OF FORMING A CDFI.

    Expenses $4,394,691 · Grants $461,286 · Revenue $534,594

  • LENDING AND OTHER - OWEESTA PROVIDES CAPITALIZATION TO QUALIFYING ORGANIZATIONS, ENABLING THEM TO REINVEST THE CAPITAL BACK INTO THEIR COMMUNITIES AND PROGRAMS AND/OR TO USE AS LEVERAGE TO ATTRACT OTHER CAPITAL. OWEESTA MAKES LOANS TO VARIOUS TYPES OF NATIVE COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS SUCH AS SMALL BUSINESS LOAN FUNDS AND CREDIT ASSOCIATIONS TO MAKE CONSUMER, BUSINESS AND HOUSING LOANS. OWEESTA ALSO LENDS TO HOUSING LOAN FUNDS FOR CAPITALIZING CONSTRUCTION LOAN FUNDS OR FOR MORTGAGE LENDING.

    Expenses $1,857,989 · Grants $759,333 · Revenue $1,149,746

As filed on the 2022 return.

Listed in Part VII

  • JEFF BOWMAN

    CHAIR

    Total calculated
    $0
    Hours/week
    2

  • ROBIN DANNER

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    2

  • DEREK VALDO

    SECRETARY/TR

    Total calculated
    $0
    Hours/week
    2

  • SUSAN HAMMOND

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • FRAN LUTZ

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • RODGER BOYD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • CHRYSTEL CORNELIUS

    EXECUTIVE DI

    Total calculated
    $203,067
    From this org
    $188,362
    From related orgs
    $0
    Other
    $14,705
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $188,362
    Bonus
    not reported
    Other
    not reported
    Deferred
    $2,600
    Nontaxable benefits
    $12,105
    Filer's total
    $203,067

  • FLORENCE LUDKA

    CFO

    Total calculated
    $184,315
    From this org
    $169,413
    From related orgs
    $0
    Other
    $14,902
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $169,413
    Bonus
    not reported
    Other
    not reported
    Deferred
    $4,275
    Nontaxable benefits
    $10,627
    Filer's total
    $184,315

  • FERN ORIE

    COO

    Total calculated
    $165,670
    From this org
    $153,683
    From related orgs
    $0
    Other
    $11,987
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $153,683
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    $11,987
    Filer's total
    $165,670

  • HEATHER TAYLOR

    DIR OF PROGR

    Total calculated
    $118,766
    From this org
    $105,269
    From related orgs
    $0
    Other
    $13,497
    Hours/week
    40

  • LANALLE SMITH

    SR PRGM OFFI

    Total calculated
    $114,025
    From this org
    $100,335
    From related orgs
    $0
    Other
    $13,690
    Hours/week
    40

  • DEBBIE POWERS

    ACCOUNTANT

    Total calculated
    $115,154
    From this org
    $110,487
    From related orgs
    $0
    Other
    $4,667
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

SCHEDULE J, PAGE 1, PART I, LINE 3
OWEESTA CORPORATION'S BOARD MEMBERS APPROVE THE PRESIDENT'S SALARY. THEY ARE ALL FAMILIAR WITH THE NOT-FOR-PROFIT SECTOR AND THE ENVIRONMENT IN WHICH OWEESTA WORKS. THEREFORE, THE BOARD HAS SUFFICIENT KNOWLEDGE TO EVALUATE AND APPROVE THE PRESIDENT'S SALARY.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

The 10 largest by cash amount. The API serves every itemized grant.

Provenance

Return type
form_990
Tax year
2022
Filed
13 December 2023
IRS schema version
2022v5.0
Source object
202303479349301105

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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