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Nonprofiteer
← WHITE EARTH INVESTMENT INITIATIVE

Form 990 for tax year 2022

Filed by WHITE EARTH INVESTMENT INITIATIVE.

Totals

Total revenue
$2,160,272
Total expenses
$769,602
Contributions and grants received
$1,834,655
Grants paid
$0
Program service revenue
$321,962
Investment income
$1,686
Other revenue
$1,969
Total assets, end of year
$11,663,427
Total liabilities, end of year
$3,654,725
Net assets or fund balances, end of year
$8,008,702
Program services expenses (Part IX)
$709,720
Management and general expenses
$48,824
Fundraising expenses
$11,058
Program service expenses (Part III)
$709,720

Program services were 92.2% 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

    $55,000

  • 1e · Government grants (contributions)

    $1,779,655

  • 2a · Program service revenue: LOAN INTEREST INCOME

    total $279,598 · related or exempt $279,598

  • 2b · Program service revenue: LOAN ORIGINATION FEES

    total $24,364 · related or exempt $24,364

  • 2c · Program service revenue: RENTAL INCOME

    total $18,000 · related or exempt $18,000

  • 3 · Investment income

    total $1,686 · excluded $1,686

  • 11a · Other revenue: OTHER INCOME

    total $1,969 · excluded $1,969

  • 11e · Other revenue, total

    $1,969

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $14,400 · program services $12,528 · management and general $1,440 · fundraising $432

  • 7 · Other salaries and wages

    total $253,136 · program services $222,759 · management and general $25,314 · fundraising $5,063

  • 8 · Pension plan contributions

    total $9,340 · program services $8,219 · management and general $934 · fundraising $187

  • 9 · Other employee benefits

    total $36,992 · program services $32,553 · management and general $3,699 · fundraising $740

  • 10 · Payroll taxes

    total $18,550 · program services $16,324 · management and general $1,855 · fundraising $371

  • 11c · Fees: accounting

    total $17,112 · program services $12,834 · management and general $4,278

  • 11g · Fees: other

    total $10,199 · program services $10,199

  • 12 · Advertising and promotion

    total $14,890 · program services $14,890

  • 13 · Office expenses

    total $12,318 · program services $10,840 · management and general $1,232 · fundraising $246

  • 14 · Information technology

    total $17,359 · program services $15,102 · management and general $1,736 · fundraising $521

  • 16 · Occupancy

    total $44,795 · program services $39,419 · management and general $3,584 · fundraising $1,792

  • 17 · Travel

    total $12,008 · program services $10,447 · management and general $1,201 · fundraising $360

  • 19 · Conferences, conventions and meetings

    total $2,002 · program services $1,742 · management and general $200 · fundraising $60

  • 20 · Interest

    total $42,213 · program services $42,213

  • 22 · Depreciation, depletion and amortization

    total $17,552 · program services $15,446 · management and general $1,404 · fundraising $702

  • 24a · Other expenses: PROVISION FOR LOAN LOSS

    total $222,000 · program services $222,000

  • 24b · Other expenses: DONATIONS

    total $5,275 · program services $5,275

  • 24c · Other expenses: BANK SERVICE CHARGES

    total $2,535 · program services $2,205 · management and general $254 · fundraising $76

  • 24d · Other expenses: MAINTENANCE CONTRACTS

    total $2,400 · program services $2,088 · management and general $240 · fundraising $72

  • 24e · All other expenses

    total $14,526 · program services $12,637 · management and general $1,453 · fundraising $436

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,855,345 · end of year $3,141,525

  • 2 · Savings and temporary cash investments

    beginning of year $904,315 · end of year $152,211

  • 4 · Accounts receivable

    beginning of year $2,380 · end of year $1,797

  • 7 · Other notes and loans receivable

    beginning of year $4,830,164 · end of year $7,990,891

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,558 · end of year $875

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

    $562,547

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

    $242,358

  • 10c · Land, buildings and equipment, net

    beginning of year $337,741 · end of year $320,189

  • 15 · Other assets

    beginning of year $58,604 · end of year $55,939

  • 17 · Accounts payable and accrued expenses

    beginning of year $30,915 · end of year $43,915

  • 19 · Deferred revenue

    beginning of year $776,369 · end of year $90,000

  • 23 · Secured mortgages and notes payable

    beginning of year $2,564,791 · end of year $3,520,810

  • 27 · Net assets without donor restrictions

    beginning of year $6,618,032 · end of year $8,008,702

Mission and programs · 2022

Mission

TO ENGAGE IN COMMUNITY, ECONOMIC, AND HOUSING DEVELOPMENT ON THE WHITE EARTH INDIAN RESERVATION, WITH THE AIM OF HELPING TO ALLEVIATE POVERTY AND ENHANCING THE STANDARD OF LIVING FOR THE RESIDENTS THERE.

Activities or mission (Part I)

TO ENGAGE IN COMMUNITY, ECONOMIC AND HOUSING DEVELOPMENT ON THE WHITE EARTH INDIAN RESERVATION, WITH THE AIM OF ALLEVIATING POVERTY AND ENHANCING THE STANDARD OF LIVING FOR RESIDENTS THERE.

  • BUSINESS LOAN FUND THE WHITE EARTH INVESTMENT INITIATIVE ENGAGES IN COMMUNITY ECONOMIC DEVELOPMENT SERVICES, TARGETING RESIDENTS OF THE WHITE EARTH RESERVATION AND OTHER NATIVE AMERICANS STATEWIDE. IN 2022, 18 COMMERCIAL LOANS TOTALING $5,179,548 WERE PROVIDED FOR NATIVE COMMUNITY BUSINESSES AND FACILITIES. 317 JOBS WERE RETAINED WITH THESE FUNDS AND 40 NEW JOBS WERE CREATED.

    Expenses $366,457 · Revenue $215,348

  • DEVELOPMENT SERVICES WEII OFFERS HOMEBUYER EDUCATION, HOUSING COUNSELING AND TAXPAYER ASSISTANCE TO RESIDENTS OF THE WHITE EARTH RESERVATION AND SURROUNDING COMMUNITIES TO SUPPORT FINANCIAL LITERACY AND ACCESS TO AFFORDABLE FINANCIAL PRODUCTS AND SERVICES AND HOMEOWNERSHIP. IN 2022, 562 FEDERAL TAX RETURNS WERE FILED AND 459 MINNESOTA STATE RETURNS WERE FILED FREE OF CHARGE THROUGH THE TAX PREPARATION PROGRAM. THIS WAS AN INCREASE OVER 2021. IN 2022, 20 HOUSEHOLD RECEIVED CLASSROOM-INSTRUCTED HOMEBUYER EDUACTION AND 8 HOUSEHOLDS RECEIVED HOUSING COUNSELING, HELPING TO PREPARE THEM FOR ASSET-BUILDING THROUGH HOMEOWNERSHIP. ALL SERVICE OUTCOMES SHOWED INCREASE OVER 2021.

    Expenses $138,924

  • CONSUMER LOAN FUND 234 CONSUMER LOANS TOTALING $937,113 WERE CLOSED IN 2022. THE VAST MAJORITY WERE NATIVE AMERICAN CLIENTS LIVING WITHIN THE BOUNDARIES OF THE WHITE EARTH RESERVATION. COMMON USES OF FUNDS INCLUDED DEBT CONSOLIDATION OR PAYOFF OF HIGH RATE LOANS, CAR REPAIR OR PURCHASE, CHRISTMAS AND BACK-TO-SCHOOL LOANS. CONSUMERS MAY FACE BARRIERS TO MAINSTREAM CREDIT AND MAY HAVE TOO MUCH DEBT, HAVE DEBT THAT IS POORLY STRUCTURED OR MAY HAVE PROBLEMS MANAGING THEIR DEBT; FAVORABLE TERMS MAY INCLUDE LOWER-THAN STANDARD DOWN-PAYMENT, HIGHER LOAN-TO-VALUE RATIO, ETC. THEY ALSO ORIGINATED 1 MORTGAGE LOAN IN 2022 IN THE AMOUNT OF $125,000.

    Expenses $204,339 · Revenue $88,614

  • OTHER RENTAL INCOME

    Revenue $18,000

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • JULIA NELMARK

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $392,059
    From this org
    $0
    From related orgs
    $331,309
    Other
    $60,750
    Hours/week
    5 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $256,309 related
    Bonus
    $0 + $75,000 related
    Other
    $0
    Deferred
    $0 + $60,750 related
    Nontaxable benefits
    $0
    Filer's total
    $0 + $392,059 related

  • DEAN JOHNSON

    SECRETARY

    Total calculated
    $3,200
    From this org
    $3,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.5

  • DOUG FABRE

    DIRECTOR

    Total calculated
    $3,000
    From this org
    $3,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.5

  • DAN STEVENS

    DIRECTOR

    Total calculated
    $2,400
    From this org
    $2,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.5

  • JESSICA TOLIFSON

    DIRECTOR

    Total calculated
    $3,000
    From this org
    $3,000
    From related orgs
    $0
    Other
    $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. 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

  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 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)

PART I, LINE 4B
JULIA NELMARK'S COMPENSATION IS DETERMINED BY MMCDC (WHITE EARTH INVESTMENT INITIATIVE'S PARENT ORGANIZATION). THE FOLLOWING DESCRIBES THE PROCESS FOR DETERMINING HER COMPENSATION: THE PERSONNEL COMMITTEE, COMPRISED OF SEVERAL BOARD MEMBERS, DETERMINES COMPENSATION FOR THE PRESIDENT. THE PRESIDENT, WITH REVIEW BY THE PERSONNEL COMMITTEE, DETERMINES COMPENSATION FOR OTHER OFFICERS AND STAFF. THE PROCESS WAS LAST PERFORMED IN 2022. THE ORGANIZATION HAS REVIEWED DATA FOR SIMILARLY QUALIFIED PERSONS IN FUNCTIONALLY COMPARABLE POSITIONS WHEN DETERMINING COMPENSATION LEVELS.

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.

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.

  • ZEPHYR ESTATES

    RELATED · RESIDENTAL · MN · 1% owned · share of assets $3,497 · general or managing partner

Related corporations and trusts

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

Provenance

Return type
form_990
Tax year
2022
Filed
3 November 2023
IRS schema version
2022v5.0
Source object
202323119349302617

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