Dakota Business Finance

Organization Overview

Dakota Business Finance is located in Sioux Falls, SD. The organization was established in 2006. According to its NTEE Classification (S99) the organization is classified as: Community Improvement & Capacity Building N.E.C., under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Dakota Business Finance 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 09/2022, Dakota Business Finance generated $1.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 16.7% each year . All expenses for the organization totaled $1.7m during the year ending 09/2022. While expenses have increased by 21.6% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

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.

Describe the Organization's Program Activity:

Part 3 - Line 4a

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.


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Board, Officers & Key Employees

Name (title)Compensation
Mike Gray
Secretary/treas
$0
Brian Gilbert
President
$0
Will Haugen
Vice President
$0
Nick Gustafson
Secretary/treas
$0
Steve Ruda
Director
$0
James Grotenhuis
Director
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
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$0
Total Program Service Revenue$1,321,230
Investment income $7,820
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $1,543,251

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