Dakota Resources
- Assets
- $30.2m
- Revenue
- $4.2m
- Investments
- $0.0
- Employees
- 12
- Location
- Renner, SD
- Founding
- 09/1996
- Data as of
- 12/2021
- EIN
- 46-0442430
Organization Overview
Dakota Resources is located in Renner, SD. The organization was established in 1996. According to its NTEE Classification (X99) the organization is classified as: Religion-Related N.E.C., under the broad grouping of Religion-Related and related organizations. As of 12/2021, Dakota Resources employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Dakota Resources is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Dakota Resources generated $4.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 14.1% each year . All expenses for the organization totaled $2.3m during the year ending 12/2021. While expenses have increased by 5.8% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
CONNECTING CAPACITY AND CAPITAL TO EMPOWER RURAL COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THROUGH COMMUNITY DEVELOPMENT LOAN PRODUCTS, DAKOTA RESOURCES HELPS BUILD THE FINANCIAL CAPACITY OF RURAL ECONOMIC DEVELOPMENT CORPORATIONS AND REVOLVING LOAN FUNDS. OUR CAPITAL INVESTMENT FUND (CIF) IS A $27.3 MILLION LENDING POOL MAKING FLEXIBLE CAPITAL AVAILABLE TO FINANCE LOCAL DEVELOPMENT PROJECTS. THE CIF WAS 84% DEPLOYED AT THE END OF 2021. IT IS A SIGNIFICANT SOURCE OF FLEXIBLE CAPITAL FOR RURAL ECONOMIC DEVELOPMENT CORPORATIONS AND REVOLVING LOAN FUNDS IN THE STATE, ALONG WITH RURAL CDFIS ACROSS THE NATION, PROVIDING REASONABLY PRICED, UNSECURED CAPITAL ON A TEN-YEAR INTEREST-ONLY TERM.DAKOTA RESOURCES RECEIVED A $10 MILLION ALLOCATION FROM USDA RURAL DEVELOPMENT UNDER THE COMMUNITY FACILITY RE-LENDING PROGRAM TO RE-LEND INTO ESSENTIAL COMMUNITY FACILITIES IN COMMUNITIES UNDER 20,000 ACROSS SOUTH DAKOTA. THROUGH THIS PROGRAM, DAKOTA RESOURCES HAS INVESTED $4.75 MILLION TO PROVIDE ESSENTIAL COMMUNITY FACILITIES IN RURAL SOUTH DAKOTA.DAKOTA RESOURCES RBEG LOAN FUND PROVIDES FLEXIBLE LOW-COST CAPITAL TOSECOND-STAGE SMALL BUSINESS OWNERS ACROSS THE STATE OF SOUTH DAKOTA.
THROUGH CAPACITY BUILDING PROGRAMS, DAKOTA RESOURCES HELPS RURAL COMMUNITIES THRIVE THROUGH INNOVATIVE PROCESSES, TOOLS, TRAINING, AND RESOURCES. THE DEVELOPMENT SERVICES PROGRAMS ARE DESIGNED TO ENHANCE RURAL COMMUNITY AND ECONOMIC DEVELOPMENT LEADERSHIP DEVELOPMENT. THE DAKOTA RESOURCES LEARNING NETWORK IS DESIGNED TO HELPRURAL ECONOMIC DEVELOPMENT LEADERS CONNECT AND ENGAGE WITH ONE ANOTHER IN ORDER TO LEARN FASTER TOGETHER ABOUT TOPICS THAT MATTER MOST TO RURAL ECONOMIC AND COMMUNITY DEVELOPMENT, INCLUDING ENGAGING PEOPLE, SUPPORTING HOUSING DEVELOPMENT, SUPPORTING LOCAL BUSINESSES AND MANAGING LOCAL ECONOMIC DEVELOPMENT ORGANIZATIONS. THE LEARNING NETWORK INCLUDES:- LIVE/ON-DEMAND WEBINARS- IN-PERSON PEER-TO-PEER LEARNING CONFERENCES- WEEKLY ONLINE INTERACTIVE STORIES AND BEST PRACTICES- OPEN-SOURCE TOOLKITS AND RESOURCE LIBRARY OUR COMMUNITY COACHING PROGRAM HELPS RURAL COMMUNITY AND ECONOMIC DEVELOPMENT LEADERS TO LEVEL UP THEIR SKILLS TO EMPOWER LOCAL PEOPLE AND ORGANIZATIONS TO LEAD ACTION. ON-DEMAND COACHING SERVICES PROVIDE ACCESS TO CAPACITY-BUILDING TOOLS AND PROCESSES.RURALX IS AN ANNUAL CONFERENCE THAT BRINGS TOGETHER COMMUNITY LEADERS AND SPIRITED PEOPLE WHO THINK DIFFERENTLY ABOUT RURAL. THIS HIGH-ENERGY EVENT FEATURES INSPIRATIONAL SPEAKERS, BOLD BREAKOUT SESSIONS, AND OPPORTUNITIES TO NETWORK WITH LIKE-MINDED INDIVIDUALS. RURALX IS A SPACE FOR RUAL SHAPERS TO EXPLORE IDEAS AND DISCUSS TOPICS RELEVANT TO THEIR COMMUNITIES.
DAKOTA RESOURCES OWNS 51% OF DAKOTAS AMERICA, LLC, WHICH WASFORMED THROUGH A JOINT VENTURE SOLELY FOR THE PURPOSE OF APPLYING FORALLOCATIONS OF NEW MARKETS TAX CREDITS (NMTC) FROM THE US DEPARTMENT OF TREASURY CDFI FUND. DAKOTAS AMERICA, LLC IS A RURAL COMMUNITY DEVELOPMENT ENTITY (CDE) WITH A NATIONAL SERVICE AREA. THE MISSION IS TO PROVIDE NMTC INVESTMENT TO THE MOST ISOLATED, DISTRESSED AND UNDERSERVED AREAS OF THE UNITED STATES. DAKOTA RESOURCES HAS A SEVEN-YEAR MANAGEMENT AGREEMENT IN PLACE TO MANAGE DAKOTAS AMERICA THROUGH DECEMBER 31, 2023. SINCE INCEPTION, DAKOTAS AMERICA HAS BEEN AWARDED FIVE ALLOCATIONS OF AUTHORITY TO ISSUE $400,000,000 OF QUALIFIED EQUITY INVESTMENTS (QEI).
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joe Bartmann President | Officer | 40 | $150,742 |
Dustin Ludens Dallc VP Managing Director | 40 | $147,223 | |
Kristi Wagner Connector & Community Coach | 40 | $124,486 | |
Paula Jensen VP Of Program Development | 40 | $110,078 | |
Alexandra Sheley VP Of Finance & Controller | Officer | 40 | $102,111 |
Heidi Zeller-Crawford Vice Chair | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Kristi Wagner Community Coaching Services | 12/30/14 | $130,864 |
Rural Weaver Llc Community Coaching Services | 12/30/14 | $206,004 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,498,078 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,498,078 |
| Total Program Service Revenue | $1,656,108 |
| Investment income | $23,533 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,783 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,179,502 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $105,150 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $273,100 |
| Compensation of current officers, directors, key employees. | $87,426 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $781,318 |
| Pension plan accruals and contributions | $46,422 |
| Other employee benefits | $107,992 |
| Payroll taxes | $80,207 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $6,322 |
| Fees for services: Other | $54,079 |
| Advertising and promotion | $80,972 |
| Office expenses | $70,133 |
| Information technology | $17,713 |
| Royalties | $0 |
| Occupancy | $22,560 |
| Travel | $61,384 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $44,044 |
| Interest | $334,907 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $40,366 |
| Insurance | $22,211 |
| All other expenses | $0 |
| Total functional expenses | $2,317,820 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $314,166 |
| Pledges and grants receivable | $1,049,531 |
| Accounts receivable, net | $57,998 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $21,072,246 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $6,725 |
| Net Land, buildings, and equipment | $266,044 |
| Investments—publicly traded securities | $6,523,917 |
| Investments—other securities | $0 |
| Investments—program-related | $742,787 |
| Intangible assets | $0 |
| Other assets | $152,922 |
| Total assets | $30,186,336 |
| Accounts payable and accrued expenses | $54,075 |
| Grants payable | $0 |
| Deferred revenue | $900 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $15,981,271 |
| Other liabilities | $0 |
| Total liabilities | $16,036,246 |
| Net assets without donor restrictions | $11,766,742 |
| Net assets with donor restrictions | $2,383,348 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $30,186,336 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that Dakota Resources has recieved totaling $593,500.
| Awarding Organization | Amount |
|---|---|
Northwest Area Foundation St Paul, MN PURPOSE: UPLIFT AMERICA FUND | $292,000 |
Bush Foundation St Paul, MN PURPOSE: THIS ECOSYSTEM GRANT PROVIDES GENERAL OPERATING SUPPORT FOR DAKOTA RESOURCES TO HELP ADVANCE ITS CHARITABLE MISSION | $100,000 |
Bush Foundation St Paul, MN PURPOSE: THIS GRANT WILL FUND START-UP ACTIVITIES OF THE NEWLY ORGANIZED SOUTH DAKOTA NONPROFIT NETWORK, A SPONSORED ORGANIZATION OF DAKOTA RESOURCES. THE WORK WILL STRENGTHEN THE ABILITY OF NONPROFITS ACROSS SOUTH DAKOTA TO CONNECT AND SHARE RESOURCES AND KNOWLEDGE ACROSS THE SECTOR IN A STATE THAT HAS BEEN WITHOUT A FORMAL ORGANIZATION FOR ALMOST 10 YEARS. | $100,000 |
Opportunity Finance Network Philadelphia, PA PURPOSE: CF RELENDING | $75,000 |
Bush Foundation St Paul, MN PURPOSE: SPONSORSHIP OF RURALX | $15,000 |
First Interstate Bancsystem Foundation Inc Billings, MT PURPOSE: GENERAL OPERATING SUPPORT | $11,500 |
Endowment Analysis
| Beg. Balance | $15,047 |
| Earnings | -$895 |
| Ending Balance | $14,152 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Veap Inc Bloomington, MN | $8,119,973 | $16,891,199 |
Good Neighbor Society Manchester, IA | $17,383,047 | $14,618,459 |
Lutheran Sunset Home Grafton, ND | $9,702,843 | $11,539,567 |
Holy Spirit Retirement Home Inc Sioux City, IA | $7,907,297 | $9,080,099 |
Brahmananda Saraswati Yagya Foundation Fairfield, IA | $15,294,355 | $10,246,793 |
St Francis Home Breckenridge, MN | $31,134,827 | $7,139,521 |
Catholic Social Services Lincoln, NE | $3,827,317 | $5,568,585 |
Faith Lutheran Home Osage, IA | $4,614,532 | $5,533,666 |
Divine Providence Community Home Sleepy Eye, MN | $3,627,339 | $4,817,279 |
St Francis Health Services Of Morris Inc Morris, MN | $57,875,580 | $5,381,423 |
Real Resources Inc Golden Valley, MN | $2,778,257 | $4,979,217 |
Back To The Bible Lincoln, NE | $5,584,724 | $3,983,560 |