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Nonprofiteer
← OWEESTA CORPORATION

Form 990 for tax year 2023

Filed by OWEESTA CORPORATION.

Totals

Total revenue
$16,385,342
Total expenses
$12,306,007
Contributions and grants received
$14,033,993
Grants paid
$5,454,298
Program service revenue
$2,007,370
Investment income
$343,979
Other revenue
$0
Total assets, end of year
$98,925,404
Total liabilities, end of year
$71,767,388
Net assets or fund balances, end of year
$27,158,016
Program services expenses (Part IX)
$10,465,037
Management and general expenses
$1,463,289
Fundraising expenses
$377,681
Program service expenses (Part III)
$10,465,037

Program services were 85.0% 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)

    $8,993,577

  • 1f · All other contributions, gifts and grants

    $5,040,416

  • 2a · Program service revenue: LOAN PORTFOLIO INCOME

    total $1,277,160 · related or exempt $1,277,160

  • 2b · Program service revenue: PROGRAM SERVICE FEES

    total $730,210 · related or exempt $730,210

  • 3 · Investment income

    total $343,979 · excluded $343,979

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $5,454,298 · program services $5,454,298

  • 5 · Compensation of officers, directors and key employees

    total $502,660 · program services $235,899 · management and general $209,781 · fundraising $56,980

  • 7 · Other salaries and wages

    total $1,498,032 · program services $703,030 · management and general $625,190 · fundraising $169,812

  • 8 · Pension plan contributions

    total $21,376 · program services $10,032 · management and general $8,921 · fundraising $2,423

  • 9 · Other employee benefits

    total $151,899 · program services $71,287 · management and general $63,393 · fundraising $17,219

  • 10 · Payroll taxes

    total $141,043 · program services $66,192 · management and general $58,863 · fundraising $15,988

  • 11g · Fees: other

    total $2,457,911 · program services $2,141,726 · management and general $275,060 · fundraising $41,125

  • 13 · Office expenses

    total $103,261 · program services $52,862 · management and general $42,257 · fundraising $8,142

  • 14 · Information technology

    total $204,102 · program services $197,228 · management and general $6,874

  • 16 · Occupancy

    total $7,441 · program services $3,493 · management and general $3,105 · fundraising $843

  • 17 · Travel

    total $322,216 · program services $198,384 · management and general $76,328 · fundraising $47,504

  • 19 · Conferences, conventions and meetings

    total $453,901 · program services $404,153 · management and general $45,816 · fundraising $3,932

  • 20 · Interest

    total $550,664 · program services $550,664

  • 23 · Insurance

    total $46,832 · program services $21,978 · management and general $19,545 · fundraising $5,309

  • 24a · Other expenses: PROVISIONS FOR LOAN LOSSE

    total $330,021 · program services $330,021

  • 24b · Other expenses: MISCELLANEOUS

    total $32,259 · program services $10,607 · management and general $16,432 · fundraising $5,220

  • 24c · Other expenses: PRINTING & PUBLICATIONS

    total $28,091 · program services $13,183 · management and general $11,724 · fundraising $3,184

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,583,786 · end of year $1,655,705

  • 2 · Savings and temporary cash investments

    beginning of year $22,731,954 · end of year $34,521,446

  • 3 · Pledges and grants receivable

    beginning of year $1,096,889 · end of year $5,006,772

  • 4 · Accounts receivable

    beginning of year $231,129 · end of year $415,903

  • 7 · Other notes and loans receivable

    beginning of year $52,724,593 · end of year $56,841,204

  • 9 · Prepaid expenses and deferred charges

    beginning of year $44,375 · end of year $37,783

  • 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 $928,559 · end of year $446,591

  • 17 · Accounts payable and accrued expenses

    beginning of year $636,273 · end of year $3,937,481

  • 19 · Deferred revenue

    beginning of year $150,000 · end of year $115,000

  • 24 · Unsecured notes and loans payable

    beginning of year $54,492,032 · end of year $67,214,907

  • 25 · Other liabilities

    beginning of year $2,159,646 · end of year $500,000

  • 27 · Net assets without donor restrictions

    beginning of year $20,122,265 · end of year $22,985,293

  • 28 · Net assets with donor restrictions

    beginning of year $3,781,069 · end of year $4,172,723

Mission and programs · 2023

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 $9,070,468 · Grants $5,164,298 · Revenue $1,277,160

  • 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 $1,394,569 · Grants $290,000 · Revenue $730,210

As filed on the 2023 return.

Listed in Part VII

  • Robin Danner

    CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Derek Valdo

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Susan Hammond

    SECRETARY/TR

    Total calculated
    $0
    Hours/week
    2

  • Jeff Bowman

    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
    $230,368
    From this org
    $213,527
    From related orgs
    $0
    Other
    $16,841
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $213,527
    Bonus
    not reported
    Other
    not reported
    Deferred
    $2,600
    Nontaxable benefits
    $14,241
    Filer's total
    $230,368

  • Florence Ludka

    CFO

    Total calculated
    $217,818
    From this org
    $200,342
    From related orgs
    $0
    Other
    $17,476
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $200,342
    Bonus
    not reported
    Other
    not reported
    Deferred
    $4,725
    Nontaxable benefits
    $12,751
    Filer's total
    $217,818

  • Fern Orie

    COO

    Total calculated
    $151,119
    From this org
    $140,205
    From related orgs
    $0
    Other
    $10,914
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $140,205
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    $10,914
    Filer's total
    $151,119

  • Heather Taylor

    DIR OF PROGR

    Total calculated
    $118,224
    From this org
    $105,668
    From related orgs
    $0
    Other
    $12,556
    Hours/week
    40

  • Lanalle Smith

    SR PRGM OFFI

    Total calculated
    $116,116
    From this org
    $101,409
    From related orgs
    $0
    Other
    $14,707
    Hours/week
    40

  • Debbie Powers

    ACCOUNTANT

    Total calculated
    $108,755
    From this org
    $105,006
    From related orgs
    $0
    Other
    $3,749
    Hours/week
    40

  • Daniel Sharp

    DIRECTOR OF

    Total calculated
    $124,181
    From this org
    $111,764
    From related orgs
    $0
    Other
    $12,417
    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, PART III
OWEESTA CORPORATION'S BOARD MEMBERS APPROVE THE EXECUTIVE DIRECTOR'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 EXECUTIVE DIRECTOR'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
2023
Filed
16 December 2024
IRS schema version
2023v5.0
Source object
202423519349300842

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

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