Totals
- Total revenue
- $1,384,630
- Total expenses
- $1,290,167
- Contributions and grants received
- $0
- Grants paid
- $176,770
- Program service revenue
- $1,261,444
- Investment income
- $14,715
- Other revenue
- $108,471
- Total assets, end of year
- $1,028,901
- Total liabilities, end of year
- $24,506
- Net assets or fund balances, end of year
- $1,004,395
- Program services expenses (Part IX)
- $1,132,232
- Management and general expenses
- $157,935
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $1,132,232
Program services were 87.8% 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.
-
2a · Program service revenue: Loan Closing Fees
total $383,074 · related or exempt $383,074
-
2b · Program service revenue: Servicing Fees
total $878,370 · related or exempt $878,370
-
3 · Investment income
total $14,715 · related or exempt $14,715
-
4 · Income from investment of tax-exempt bond proceeds
total $0
-
5 · Royalties
total $0
-
6d · Net rental income or loss
total $0
-
7d · Net gain or loss
total $0
-
8c · Net income from fundraising events
total $0
-
9c · Net income from gaming
total $0
-
10c · Net income from sales of inventory
total $0
-
11a · Other revenue: Miscellaneous Revenue
total $18,500 · related or exempt $18,500
-
11b · Other revenue: Third Party Lending
total $89,971 · related or exempt $89,971
-
11e · Other revenue, total
$108,471
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $176,770 · program services $176,770
-
2 · Grants to domestic individuals
total $0
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $0
-
5 · Compensation of officers, directors and key employees
total $0
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $0
-
8 · Pension plan contributions
total $0
-
9 · Other employee benefits
total $0
-
10 · Payroll taxes
total $0
-
11a · Fees: management
total $789,677 · program services $631,742 · management and general $157,935
-
11b · Fees: legal
total $77,159 · program services $77,159
-
11c · Fees: accounting
total $4,180 · program services $4,180
-
11d · Fees: lobbying
total $0
-
11e · Fees: professional fundraising services
total $0
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $99,160 · program services $99,160
-
12 · Advertising and promotion
total $34,627 · program services $34,627
-
13 · Office expenses
total $3,817 · program services $3,817
-
14 · Information technology
total $22,617 · program services $22,617
-
15 · Royalties
total $0
-
16 · Occupancy
total $0
-
17 · Travel
total $17,187 · program services $17,187
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $0
-
20 · Interest
total $0
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $0
-
23 · Insurance
total $4,392 · program services $4,392
-
24a · Other expenses: Filing Fees
total $16,752 · program services $16,752
-
24b · Other expenses: Dues, Subscript & Membership
total $16,027 · program services $16,027
-
24c · Other expenses: Business Development
total $14,469 · program services $14,469
-
24d · Other expenses: Training
total $7,881 · program services $7,881
-
24e · All other expenses
total $5,452 · program services $5,452
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
end of year $0
-
2 · Savings and temporary cash investments
beginning of year $1,006,320 · end of year $1,021,982
-
3 · Pledges and grants receivable
end of year $0
-
4 · Accounts receivable
end of year $861
-
5 · Loans and receivables from officers and key people
end of year $0
-
6 · Loans and receivables from disqualified persons
end of year $0
-
7 · Other notes and loans receivable
end of year $0
-
8 · Inventories for sale or use
end of year $0
-
9 · Prepaid expenses and deferred charges
beginning of year $484 · end of year $6,058
-
10c · Land, buildings and equipment, net
end of year $0
-
11 · Investments: publicly traded securities
end of year $0
-
12 · Investments: other securities
end of year $0
-
13 · Investments: program-related
end of year $0
-
14 · Intangible assets
end of year $0
-
15 · Other assets
end of year $0
-
17 · Accounts payable and accrued expenses
beginning of year $96,871 · end of year $24,506
-
27 · Net assets without donor restrictions
beginning of year $909,933 · end of year $1,004,395
Mission and programs · 2022
Mission
Dakota Business Finance provides financing for a wide range of businesses through the SBA 504 Loan Program. This program provides fixed rate financing for the purchase of long-term assets such as the purchase of land, purchase and construction of buildings, renovate or remodel existing facilities, and/or purchase of long-term machinery and equipment.
-
Dakota Business Finance provides financing for a wide range of businesses through the SBA 504 Loan Program. This program provides fixed rate financing for the purchase of long-term assets such as the purchase of land, purchase and construction of buildings, renovate or remodel existing facilities, and/or purchase of long-term machinery and equipment.
Expenses $1,132,232 · Revenue $1,261,444
As filed on the 2022 return.
Listed in Part VII
-
Jessica Harry
Director
- Total calculated
- $0
- Hours/week
- 0.5
-
Nick Gustafson
Director
- Total calculated
- $0
- Hours/week
- 0.5
-
Steve Ruda
Director
- Total calculated
- $0
- Hours/week
- 0.5
-
James Grotenhuis
Director
- Total calculated
- $0
- Hours/week
- 0.5
-
Gregg Brown
Director
- Total calculated
- $0
- Hours/week
- 0.5
-
Tom Frieberg
Director
- Total calculated
- $0
- Hours/week
- 0.5
-
Mike Gray
Secretary/Treas
- Total calculated
- $0
- Hours/week
- 0.5
-
Brian Gilbert
President
- Total calculated
- $0
- Hours/week
- 0.5
-
Will Haugen
Vice President
- Total calculated
- $0
- Hours/week
- 0.5
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
-
$112,520
Economic Development
-
$40,000
Economic Development
-
$10,000
Economic Development
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 29 January 2024
- IRS schema version
- 2022v5.0
- Source object
- 202440299349301724
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
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