Overview
What is Dakota Resources?
Dakota Resources is a nonprofit organization based in Renner, South Dakota, focusing on enhancing the financial capacity of rural economic development corporations and revolving loan funds through community development loan products. Their Capital Investment Fund (CIF), worth $31.1 million, offers flexible capital for financing local development projects, making it a crucial source of financing for rural economic development corporations and revolving loan funds in South Dakota and other rural Community Development Financial Institutions (CDFIs) nationwide. Dakota Resources also received a $10 million allocation from the USDA Rural Development under the Community Facility Re-Lending Program to reinvest into essential community facilities in rural communities under 20,000 across South Dakota. Additionally, their RBEG Loan Fund provides flexible, low-cost capital to second-stage small business owners across the state. Dakota Resources' mission lies in connecting leadership capacity and access to capital to empower rural communities, believing that these two elements are essential to creating a thriving future for rural areas.
Official website here: www.dakotaresources.org
Is Dakota Resources legitimate?
Dakota Resources is a legitimate nonprofit organization registered as a 501(c)(3) entity. Dakota Resources submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Here are some key statistics you may want to consider:
Executive Compensation: $369,243
Professional Fundraising Fees: $0
Other Salaries and Wages: $636,458
For more financial information, click here
Official website here: www.dakotaresources.org
What is the mission statement of Dakota Resources?
Dakota Resources' mission is centered around connecting leadership capacity and access to capital to empower rural communities. They believe that these two elements are crucial in shaping the future of rural areas. Their products and programs are designed to support rural change leaders and economic development organizations, aiming to foster thriving communities. Through community development loan products, Dakota Resources helps build the financial capacity of rural economic development corporations and revolving loan funds. Their Capital Investment Fund (CIF) is a significant source of flexible capital, providing reasonably priced, unsecured capital on a ten-year interest-only term. The CIF was 93.7% deployed at the end of 2022, supporting rural economic development corporations and revolving loan funds across the nation. Dakota Resources also received a $10 million allocation from USDA Rural Development under the Community Facility Re-Lending Program. This allocation was used to re-lend into essential community facilities in communities under 20,000 across South Dakota, with $4.75 million invested to provide these facilities in rural South Dakota. Additionally, Dakota Resources' RBEG Loan Fund offers flexible, low-cost capital to second-stage small business owners across South Dakota.
Official website here: www.dakotaresources.org
Who is the CEO of Dakota Resources?
What is the revenue of Dakota Resources?
Who are the executives of Dakota Resources and what are their salaries?
The average compensation at Dakota Resources during 2022 was $91,427. There are 11 employees and 31 volunteers at Dakota Resources.
Here are 20 key members and their salaries:
- Joe Bartmann (President)
- Kristi Wagner (Connector & Community Coach)
- Paula Jensen (Vp Of Program Development)
- Lora Wadkins (Director Of Compliance, Controller)
- Alexandra Sheley Vp Of (Finance & Controller (End 10/2022))
- Ruth Christopherson (Chair) [Trustee/Director]
- Heidi Zeller-Crawford (Vice Chair) [Trustee/Director]
- Mark Litton (Secretary/Treasurer) [Trustee/Director]
- Rachael Sherard (Immediate Past Chair) [Trustee/Director]
- Gary Cammack (Board Member) [Trustee/Director]
- Kelly Melius (Board Member) [Trustee/Director]
- Jacqson Collins (Board Member) [Trustee/Director]
- Blaine Crissman (Board Member) [Trustee/Director]
- Marc Eyre (Board Member) [Trustee/Director]
- Brad Moore (Board Member) [Trustee/Director]
- Connie Halverson (Board Member) [Trustee/Director]
- Julie Stevenson (Board Member) [Trustee/Director]
- Linda Salmonson (Board Member) [Trustee/Director]
- Lakota Vogel (Board Member) [Trustee/Director]
- Justin Gray (Board Member) [Trustee/Director]
Official website here: www.dakotaresources.org
Where can I find the form 990 for Dakota Resources?
The Dakota Resources’s most recent form 990 was submitted in 2022 and can be accessed here
Official website here: www.dakotaresources.org
Learn more at the official website: www.dakotaresources.org
Mission Statement of Dakota Resources
Dakota Resources, a nonprofit organization, is committed to empowering rural communities by connecting leadership capacity and access to capital. They believe that these two elements are crucial in shaping the future of rural areas. Dakota Resources offers a range of products and programs designed to support rural change leaders and economic development organizations, ultimately contributing to thriving communities.
The organization provides community development loan products, helping to strengthen the financial capacity of rural economic development corporations and revolving loan funds. Dakota Resources' Capital Investment Fund (CIF) is a significant source of flexible capital, with a lending pool of $31.1 million. The CIF was 93.7% deployed at the end of 2022, offering reasonably priced, unsecured capital on a ten-year interest-only term. This funding is vital for rural economic development corporations and revolving loan funds across the state, as well as rural Community Development Financial Institutions (CDFIs) nationwide.
Dakota Resources also received a $10 million allocation from USDA Rural Development under the Community Facility Re-Lending Program. This program enables Dakota Resources to re-lend funds into essential community facilities in communities with less than 20,000 residents across South Dakota. Through this program, Dakota Resources has invested $4.75 million to provide essential community facilities in rural South Dakota. Additionally, the Dakota Resources RBEG Loan Fund offers flexible, low-cost capital to second-stage small business owners across the state of South Dakota.
Impact
This information is meant to be a general summary of Dakota Resources. Please take the time to review official sources before making any decisions based upon the content provided here.
Saturday, July 20, 2024
Dakota Resources plays a crucial role in empowering rural communities by connecting capital and capacity. Through their community development loan products, Dakota Resources helps build the financial capacity of rural economic development corporations and revolving loan funds. Their Capital Investment Fund (CIF) of $31.1 million provides flexible capital for financing local development projects, significantly impacting rural economic development corporations and revolving loan funds in the state and rural CDFIs across the nation. Additionally, Dakota Resources received a $10 million allocation from USDA Rural Development to re-lend into essential community facilities in smaller communities across South Dakota, further contributing to rural development in the region. Their RBEG Loan Fund also offers flexible, low-cost capital to small business owners, supporting economic growth across the state. Dakota Resources' commitment to rural empowerment through financial support and programs is vital for the future success of rural communities.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Assets and Liabilities:
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST ON LOANS
Revenue
$835,110
INC FROM DAKOTAS AMERI
Revenue
$413,032
MANAGEMENT FEE INCOME
Revenue
$289,826
REGISTRATION AND MISC
Revenue
$136,435
Organization Details
Founding Year
1996
Phone
(605) 978-2804
Principal Officer
Joe Bartmann
Main Address
25795 475TH AVE, RENNER, SD, 57055
Website
www.dakotaresources.org
NTEE Category
Code: X99 - Religion related
If you are a representative of Dakota Resources and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.