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← LAKOTA FUND

Form 990 for tax year 2023

Filed by LAKOTA FUND.

Totals

Total revenue
$6,200,914
Total expenses
$2,950,294
Contributions and grants received
$5,252,104
Grants paid
$250,240
Program service revenue
$806,419
Investment income
$83,642
Other revenue
$58,749
Total assets, end of year
$22,342,828
Total liabilities, end of year
$7,908,661
Net assets or fund balances, end of year
$14,434,167
Program services expenses (Part IX)
$2,279,485
Management and general expenses
$656,333
Fundraising expenses
$14,476
Program service expenses (Part III)
$2,279,485

Program services were 77.3% 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.

  • 1d · Related organizations

    $272,348

  • 1e · Government grants (contributions)

    $2,959,709

  • 1f · All other contributions, gifts and grants

    $2,020,047

  • 1g · Noncash contributions included above

    $272,348

  • 2a · Program service revenue: LOAN INTEREST INCOME

    total $520,765 · related or exempt $520,765

  • 2b · Program service revenue: MANAGEMENT FEE INCOME

    total $186,589 · related or exempt $186,589

  • 2c · Program service revenue: OTHER PROGRAM REVENUE

    total $99,065 · related or exempt $99,065

  • 3 · Investment income

    total $83,642 · excluded $83,642

  • 6a · Gross rents

    real property $52,707

  • 6c · Rental income or loss

    real property $52,707

  • 6d · Net rental income or loss

    total $52,707 · excluded $52,707

  • 11a · Other revenue: CAPITAL CREDITS

    total $6,042 · related or exempt $6,042

  • 11e · Other revenue, total

    $6,042

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $250,240 · program services $250,240

  • 5 · Compensation of officers, directors and key employees

    total $147,569 · program services $103,299 · management and general $30,698 · fundraising $13,572

  • 7 · Other salaries and wages

    total $718,348 · program services $502,844 · management and general $215,504

  • 8 · Pension plan contributions

    total $18,257 · program services $12,780 · management and general $5,477

  • 9 · Other employee benefits

    total $102,176 · program services $71,523 · management and general $30,653

  • 10 · Payroll taxes

    total $73,839 · program services $51,687 · management and general $21,248 · fundraising $904

  • 11c · Fees: accounting

    total $33,886 · program services $23,720 · management and general $10,166

  • 11g · Fees: other

    total $681,876 · program services $477,314 · management and general $204,562

  • 12 · Advertising and promotion

    total $500 · program services $350 · management and general $150

  • 13 · Office expenses

    total $128,741 · program services $90,119 · management and general $38,622

  • 16 · Occupancy

    total $20,115 · program services $14,081 · management and general $6,034

  • 17 · Travel

    total $123,982 · program services $86,787 · management and general $37,195

  • 19 · Conferences, conventions and meetings

    total $35,385 · program services $24,769 · management and general $10,616

  • 20 · Interest

    total $66,540 · program services $66,540

  • 22 · Depreciation, depletion and amortization

    total $82,577 · program services $57,803 · management and general $24,774

  • 23 · Insurance

    total $38,042 · program services $26,629 · management and general $11,413

  • 24a · Other expenses: LOAN FORGIVENESS

    total $210,610 · program services $210,610

  • 24b · Other expenses: DUES, LICENSES AND PUB

    total $86,068 · program services $86,068

  • 24c · Other expenses: TELEPHONE & COMMUNICATION

    total $56,607 · program services $39,625 · management and general $16,982

  • 24d · Other expenses: BOARD EXPENSES

    total $48,141 · program services $33,699 · management and general $14,442

  • 24e · All other expenses

    total $26,795 · program services $48,998 · management and general -$22,203

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $8,539,368 · end of year $10,746,335

  • 2 · Savings and temporary cash investments

    beginning of year $248,083 · end of year $1,716,239

  • 3 · Pledges and grants receivable

    beginning of year $235,351 · end of year $489,883

  • 4 · Accounts receivable

    beginning of year $14,227 · end of year $16,405

  • 7 · Other notes and loans receivable

    beginning of year $8,050,995 · end of year $8,816,987

  • 9 · Prepaid expenses and deferred charges

    beginning of year $12,407 · end of year $14,908

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

    $2,402,574

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

    $1,885,503

  • 10c · Land, buildings and equipment, net

    beginning of year $568,516 · end of year $517,071

  • 15 · Other assets

    beginning of year $25,000 · end of year $25,000

  • 17 · Accounts payable and accrued expenses

    beginning of year $13,992 · end of year $24,801

  • 19 · Deferred revenue

    beginning of year $3,011,791 · end of year $4,325,287

  • 23 · Secured mortgages and notes payable

    beginning of year $220,671 · end of year $145,762

  • 24 · Unsecured notes and loans payable

    beginning of year $3,208,902 · end of year $3,338,402

  • 25 · Other liabilities

    beginning of year $55,044 · end of year $74,409

  • 27 · Net assets without donor restrictions

    beginning of year $10,400,821 · end of year $13,586,385

  • 28 · Net assets with donor restrictions

    beginning of year $782,726 · end of year $847,782

Mission and programs · 2023

Mission

LAKOTA FUNDS PROMOTES ECONOMIC SUSTAINABILITY BY PROVIDING ACCESS TO CREDIT FOR NATIVE PEOPLE.

Activities or mission (Part I)

THE LAKOTA FUNDS MISSION IS TO PROMOTE ECONOMIC SUSTAINABILITY ON THE PINE RIDGE RESERVATION AND GEOGRAPHIC SERVICE AREA THROUGH BUSINESS LOANS, TECHNICAL ASSISTANCE AND WEALTH BUILDING EDUCATION FOR FAMILIES/BUSINESSES.

  • THE LAKOTA FUND PROVIDES ECONOMIC DEVELOPMENT THROUGH BUSINESS LOANS, TECHNICAL ASSISTANCE, WORKFORCE DEVELOPMENT, AND FINANCIAL EDUCATION ON THE PINE RIDGE AND ROSEBUD RESERVATIONS AND SURROUNDING AREA. THEIR LENDING HAS INCREASED SUBSTANTIALLY IN THE LAST 5 YEARS AS EVIDENCED BY A 400% INCREASE IN LOAN PORTFOLIO GROWTH, FROM 2.5M IN 2018 TO 10M IN 2023.

    Expenses $2,279,485 · Grants $250,240 · Revenue $806,419

As filed on the 2023 return.

Listed in Part VII

  • Tawney Brunsch

    EXECUTIVE DI

    Total calculated
    $135,725
    From this org
    $117,828
    From related orgs
    $0
    Other
    $17,897
    Hours/week
    40

  • Carol Ferguson

    MEMBER

    Total calculated
    $2,564
    From this org
    $2,509
    From related orgs
    $0
    Other
    $55
    Hours/week
    1

  • Warren Cross

    SECRETARY/TR

    Total calculated
    $2,440
    From this org
    $2,270
    From related orgs
    $0
    Other
    $170
    Hours/week
    1

  • Andrea Angie Eagle Bull

    VICE CHAIR

    Total calculated
    $2,360
    From this org
    $2,230
    From related orgs
    $0
    Other
    $130
    Hours/week
    1

  • Dona Leavens

    MEMBER

    Total calculated
    $2,250
    From this org
    $2,025
    From related orgs
    $0
    Other
    $225
    Hours/week
    1

  • Kevin Yellowbird Steele

    MEMBER

    Total calculated
    $1,462
    From this org
    $1,431
    From related orgs
    $0
    Other
    $31
    Hours/week
    1

  • Elsie Meeks

    CHAIRMAN

    Total calculated
    $1,458
    From this org
    $1,379
    From related orgs
    $0
    Other
    $79
    Hours/week
    1

  • Red Dawn Foster

    MEMBER

    Total calculated
    $44
    From this org
    $0
    From related orgs
    $0
    Other
    $44
    Hours/week
    0.25

  • Marla Thunder Bull

    MEMBER

    Total calculated
    $26
    From this org
    $0
    From related orgs
    $0
    Other
    $26
    Hours/week
    1

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.

Grants on this return

No itemized grants to organizations on this return.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • WANBLI HOHPI OTIPI LTD PARTNERSHIP

    RELATED · HOUSING · SD · 99.99% owned · share of income -$195,123 · share of assets $174,727

    Directly controlled by LAKOTA FD

  • LAKOTA FUND LTD PARTNERSHIP

    RELATED · HOUSING · SD · 99.99% owned · share of income -$16,358 · share of assets $205,909

    Directly controlled by LAKOTA FD

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • THE LAKOTA FUND INC

    C CORP · HOUSING · SD · 100% owned · share of income -$22 · share of assets $38

    Directly controlled by LAKOTA FD THE LAKOTA FUNDS INC

Provenance

Return type
form_990
Tax year
2023
Filed
21 August 2024
IRS schema version
2023v5.0
Source object
202423029349301142

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