Dbl Equity Partners is located in Fargo, ND. According to its NTEE Classification (S40) the organization is classified as: Business & Industry, 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. Dbl Equity Partners is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO SERVE AND PROVIDE PRODUCTS, SERVICES, LOANS AND/OR INVESTMENT CAPITAL FOR QUALIFIED LOW INCOME PERSONS OR LOW INCOME COMMUNITIES AND TO FURTHER THE AFFORDABLE HOUSING, NEIGHBORHOOD AND COMMUNITY REVITALIZATION, AND ECONOMIC DEVELOPMENT EFFORTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NEW MARKETS TAX CREDITS (NMTC) WORKS TO ENCOURAGE AND JUMPSTART INVESTMENT IN LOW-INCOME CENSUS TRACTS TO CREATE JOBS AND BRING NEW OPPORTUNITIES TO QUALIFYING AREAS IN NORTH DAKOTA. THE GOAL OF THE NMTC AWARD IS TO FILL A FINANCING GAP FOR TRANSFORMATIVE PROJECTS WHICH BRING OPPORTUNITIES TO LOW-INCOME OR DISTRESSED AREAS.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Steve Dusek President/secretary | OfficerTrustee | 1 | $0 |
Dan Jacobson Board Member | Trustee | 1 | $0 |
John Phillips Board Member | Trustee | 1 | $0 |
Craig Hanson Board Member | Trustee | 1 | $0 |
Steve Britsch Board Member | Trustee | 1 | $0 |
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 | $953,194 |
Investment income | $0 |
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 | $953,194 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $0 |
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. | $0 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $0 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $0 |
Payroll taxes | $0 |
Fees for services: Management | $572,546 |
Fees for services: Legal | $1,229 |
Fees for services: Accounting | $0 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $331,000 |
Advertising and promotion | $0 |
Office expenses | $410 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $0 |
Travel | $0 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $0 |
Insurance | $0 |
All other expenses | $0 |
Total functional expenses | $905,185 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $981,464 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $0 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $0 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $0 |
Net Land, buildings, and equipment | $0 |
Investments—publicly traded securities | $0 |
Investments—other securities | $1,580 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $983,044 |
Accounts payable and accrued expenses | $316,000 |
Grants payable | $0 |
Deferred revenue | $30,000 |
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 | $0 |
Other liabilities | $637,044 |
Total liabilities | $983,044 |
Net assets without donor restrictions | $0 |
Net assets with donor restrictions | $0 |
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 | $983,044 |
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Dbl Equity Partners Fargo, ND | $983,044 | $953,194 |
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