Skip to content
Nonprofiteer
← DAKOTA BUSINESS LENDING

Form 990 for tax year 2024

Filed by DAKOTA BUSINESS LENDING.

Totals

Total revenue
$2,624,392
Total expenses
$3,285,640
Contributions and grants received
$228,389
Grants paid
$0
Program service revenue
$2,160,505
Investment income
$198,503
Other revenue
$36,995
Total assets, end of year
$8,880,946
Total liabilities, end of year
$4,649,972
Net assets or fund balances, end of year
$4,230,974
Program services expenses (Part IX)
$2,576,055
Management and general expenses
$709,585
Fundraising expenses
$0
Program service expenses (Part III)
$2,576,055

Program services were 78.4% 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)

    $186,089

  • 1f · All other contributions, gifts and grants

    $42,300

  • 2a · Program service revenue: LOAN SERVICING & PROCE

    total $1,623,484 · related or exempt $1,623,484

  • 2b · Program service revenue: LOAN INTEREST INCOME

    total $330,399 · related or exempt $330,399

  • 2c · Program service revenue: MANAGEMENT FEES

    total $206,622 · related or exempt $206,622

  • 3 · Investment income

    total $198,503 · excluded $198,503

  • 11a · Other revenue: MISCELLANEOUS

    total $36,995 · related or exempt $36,995

  • 11e · Other revenue, total

    $36,995

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $317,820 · program services $76,430 · management and general $241,390

  • 7 · Other salaries and wages

    total $1,635,929 · program services $1,528,052 · management and general $107,877

  • 8 · Pension plan contributions

    total $104,319 · program services $98,017 · management and general $6,302

  • 9 · Other employee benefits

    total $228,767 · program services $210,771 · management and general $17,996

  • 10 · Payroll taxes

    total $147,388 · program services $123,967 · management and general $23,421

  • 11c · Fees: accounting

    total $75,640 · management and general $75,640

  • 11g · Fees: other

    total $39,149 · program services $39,149

  • 12 · Advertising and promotion

    total $49,726 · management and general $49,726

  • 13 · Office expenses

    total $158,130 · program services $84,301 · management and general $73,829

  • 16 · Occupancy

    total $87,438 · program services $74,760 · management and general $12,678

  • 17 · Travel

    total $116,059 · program services $116,059

  • 19 · Conferences, conventions and meetings

    total $58,406 · program services $55,091 · management and general $3,315

  • 20 · Interest

    total $118,795 · program services $75,165 · management and general $43,630

  • 22 · Depreciation, depletion and amortization

    total $83,223 · program services $66,578 · management and general $16,645

  • 23 · Insurance

    total $30,367 · program services $8,263 · management and general $22,104

  • 24a · Other expenses: DUES AND SUBSCRIPTIONS

    total $18,850 · program services $18,850

  • 24b · Other expenses: MISCELLANEOUS EXPENSES

    total $11,784 · management and general $11,784

  • 24c · Other expenses: BANK CHARGES

    total $3,850 · program services $602 · management and general $3,248

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $602,216 · end of year $754,990

  • 2 · Savings and temporary cash investments

    beginning of year $2,733,299 · end of year $3,023,624

  • 4 · Accounts receivable

    beginning of year $5,658 · end of year $45,096

  • 7 · Other notes and loans receivable

    beginning of year $2,071,118 · end of year $2,827,946

  • 9 · Prepaid expenses and deferred charges

    beginning of year $34,305 · end of year $66,927

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

    $2,176,445

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

    $546,549

  • 10c · Land, buildings and equipment, net

    beginning of year $1,666,734 · end of year $1,629,896

  • 12 · Investments: other securities

    beginning of year $112,253 · end of year $96,817

  • 15 · Other assets

    beginning of year $1,552,953 · end of year $435,650

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,425,087 · end of year $2,457,265

  • 19 · Deferred revenue

    beginning of year $74,500 · end of year $38,586

  • 23 · Secured mortgages and notes payable

    beginning of year $2,386,726 · end of year $2,154,121

  • 27 · Net assets without donor restrictions

    beginning of year $4,798,285 · end of year $4,137,036

  • 28 · Net assets with donor restrictions

    beginning of year $93,938 · end of year $93,938

Mission and programs · 2024

Mission

DAKOTA BUSINESS LENDING IS A SMALL BUSINESS RESOURCE THAT DRIVES ECONOMIC GROWTH BY:1. PROVIDING UNIQUE FINANCING OPPORTUNITIES2. POSITIVELY IMPACTING THE COMMUNITIES WE SERVE3. EDUCATING AND GUIDING SMALL BUSINESSES4. BUILDING PARTNERSHIPS THAT ADD VALUE AND CREATING AN ENVIRONMENT WHERE OUR TEAM MEMBERS THRIVE.

  • SBA 504 PROGRAM, 27 LOANS FUNDED IN 2024, 1,228 FUNDED PROGRAM TO DATE. DAKOTA BUSINESS LENDING IS THE NUMBER 1 SBA 504 LENDER IN THE STATE OF NORTH DAKOTA. THE SBA 504 PROGRAM PROVIDES LONG-TERM, FIXED RATE FINANCING TO AMERICA'S SMALL BUSINESSES. THE PURPOSE OF THE 504 LOAN PROGRAM IS TO CREATE AND RETAIN JOBS BY PROVIDING A STABLE, QUALITY SOURCE OF CAPITAL TO SMALL BUSINESSES WHICH OFTEN TIMES HAVE DIFFICULTY QUALIFYING FOR TRADITIONAL FINANCING.

    Expenses $2,461,590 · Revenue $1,998,861

  • INTERMEDIARY RELENDING PROGRAM 1, 0 LOANS FUNDED IN 2024, 66 LOANS FUNDED TO DATE. BORROWERS IN RURAL COMMUNITIES (POPULATION UNDER 50,000) MAY BENEFIT FROM A FIXED-RATE, 5-15-YEAR LOAN UP TO $250,000 TO FINANCE A NEW OR EXISTING BUSINESS, PURCHASE EQUIPMENT OR REAL ESTATE OR USE AS WORKING CAPITAL. HEALTH-RELATED IRP LOANS ARE ALSO AVAILABLE, AS DAKOTA BUSINESS LENDING HAS ESTABLISHED A PARTNERSHIP WITH AREAS LENDERS AND SMALL BUSINESSES AS WELL AS THE U.S. DEPARTMENT OF AGRICULTURE TO OFFER THE INTERMEDIARY RELENDING PROGRAM (IRP).

    Expenses $26,791 · Revenue $31,001

  • INTERMEDIARY RELENDING PROGRAM 2&3, 0 LOANS FUNDED IN 2024, 66 LOANS FUNDED TO DATE. BORROWERS IN RURAL COMMUNITIES (POPULATION UNDER 50,000) MAY BENEFIT FROM A FIXED-RATE, 5-15-YEAR LOAN UP TO $250,000 TO FINANCE A NEW OR EXISTING BUSINESS, PURCHASE EQUIPMENT OR REAL ESTATE OR USE AS WORKING CAPITAL. HEALTH-RELATED IRP LOANS ARE ALSO AVAILABLE, AS DAKOTA BUSINESS LENDING HAS ESTABLISHED A PARTNERSHIP WITH AREAS LENDERS AND SMALL BUSINESSES AS WELL AS THE U.S. DEPARTMENT OF AGRICULTURE TO OFFER THE INTERMEDIARY RELENDING PROGRAM (IRP).

    Expenses $38,293 · Revenue $48,555

  • OTHER PROGRAM SERVICES INCLUDE INTERMEDIARY LENDING PROGRAM, INTERMEDIARY RELENDING PROGRAM 4 THE MICROLOAN LENDING PROGRAM, THE RURAL BUSINESS ENTERPRISES PROGRAM, THE MAIN STREET LOAN PROGRAM, 10K SB RURAL INITATIVE AND THE COMMUNITY ADVANTAGE LOAN PROGRAM.

    Expenses $49,381 · Revenue $119,083

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Matt Marshall

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jim Hambrick

    DIRECTOR

    Total calculated
    $1,800
    From this org
    $1,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Steve Gehrtz

    DIRECTOR

    Total calculated
    $1,800
    From this org
    $1,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Jason Hopfauf

    DIRECTOR

    Total calculated
    $1,550
    From this org
    $1,550
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Tonya Holmstrom

    CHAIR

    Total calculated
    $1,800
    From this org
    $1,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • John Phillips

    DIRECTOR

    Total calculated
    $1,800
    From this org
    $1,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Cole Keney

    VICE-CHAIR

    Total calculated
    $1,550
    From this org
    $1,550
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Heather Ranck

    DIRECTOR

    Total calculated
    $1,800
    From this org
    $1,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Steve M Dusek

    PRESIDENT & CEO

    Total calculated
    $305,720
    From this org
    $257,283
    From related orgs
    $0
    Other
    $48,437
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $192,783
    Bonus
    $52,500
    Other
    $12,000
    Deferred
    $17,383
    Nontaxable benefits
    $31,054
    Filer's total
    $305,720

  • Ann Peterson

    VP/LOAN OPERATIONS

    Total calculated
    $172,938
    From this org
    $138,316
    From related orgs
    $0
    Other
    $34,622
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $131,316
    Bonus
    $7,000
    Other
    $0
    Deferred
    $10,493
    Nontaxable benefits
    $24,129
    Filer's total
    $172,938

  • Annjanette Martins

    SR. CREDIT MANAGER

    Total calculated
    $131,550
    From this org
    $115,414
    From related orgs
    $0
    Other
    $16,136
    Hours/week
    40

  • Jason Gerdes

    BUSINESS DEVELOPMENT/COMME

    Total calculated
    $125,396
    From this org
    $104,311
    From related orgs
    $0
    Other
    $21,085
    Hours/week
    40

  • Roxanne Pfliiger

    SENIOR BUSINESS DEVELOPMENT/COMME

    Total calculated
    $136,576
    From this org
    $116,082
    From related orgs
    $0
    Other
    $20,494
    Hours/week
    40

  • Jo Back

    BUSINESS DEVELOPMENT/COMME

    Total calculated
    $125,800
    From this org
    $101,400
    From related orgs
    $0
    Other
    $24,400
    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 · Compensation survey or study
  • 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

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

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • DBL EQUITY PARTNERS

    501(C)(3) · HELP & ASSIST BUSINESSES THROUGH NEW MARKET TAX CREDIT PROGRAM · ND · controlled entity

    Directly controlled by DAKOTA BUSINESS LENDING

Provenance

Return type
form_990
Tax year
2024
Filed
6 November 2025
IRS schema version
2024v5.2
Source object
202503179349303055

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

The source document this was parsed from is served over the API, which is where bulk and document access live.