Sovereign Equity Fund
- Assets
- $6.1m
- Revenue
- $3.4m
- Investments
- $0.0
- Employees
- 0
- Location
- Bismark, ND
- Founding
- Data as of
- 12/2023
- EIN
- 92-2247773
Organization Overview
Sovereign Equity Fund is located in Bismark, ND. According to its NTEE Classification (T12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sovereign Equity Fund 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
SOVEREIGN EQUITY FUND (SEF) PROVIDES GRANTS TO ELIGIBLE ENTITIES TO PROVIDE ASSISTANCE AND SERVICES TO IMPROVE THE SOCIAL, ENVIRONMENTAL, HEALTH, AND ECONOMIC DEVELOPMENT OPPORTUNITIES OF AMERICAN INDIANS, ALASKA NATIVES, AND NATIVE HAWAIIANS. THE GOAL IS TO ADVANCE NATIVE FOOD SECURITY TO STRENGTHEN TRIBAL SOVEREIGNTY THROUGH ADVANCEMENTS IN AGRICULTURAL INFRASTRUCTURE BY UTILIZING TRANSFORMATIVE MISSION INVESTMENT STRATEGIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING DONATIONS, GIFTS, GRANTS, CONTRIBUTIONS, LOANS, GUARANTEES, OR SUBSIDIES TO SUPPORT AMERICAN INDIANS, ALASKA NATIVES, AND NATIVE HAWAIIANS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Secretary | OfficerTrustee | 2 | $0 |
Name Not Listed President | OfficerTrustee | 2 | $0 |
Name Not Listed Treasurer | OfficerTrustee | 2 | $0 |
Name Not Listed Controller | Officer | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $268,170 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,100,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,368,170 |
| Total Program Service Revenue | $0 |
| 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 | $3,368,170 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,468,170 |
| 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 | $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 | $0 |
| Fees for services: Other | $1,000 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $6,833 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $22,323 |
| 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 | $632 |
| All other expenses | $0 |
| Total functional expenses | $1,506,056 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,880,540 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $2,250,000 |
| 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 | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,130,540 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $600,000 |
| Deferred revenue | $3,668,426 |
| 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 | $0 |
| Total liabilities | $4,268,426 |
| Net assets without donor restrictions | $962,114 |
| Net assets with donor restrictions | $900,000 |
| 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 | $6,130,540 |
Grants Awarded
Over the last fiscal year, Sovereign Equity Fund has awarded $1,468,170 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
COLLEGE OF MENOMINEE NATION PURPOSE: The project aims to weave together food, material, and spiritual culture through workshops. | $200,000 |
FORT PECK COMMUNITY COLLEGE PURPOSE: The project synthesizes both traditional and modern practices to revitalize cultural foodways in their communities. | $200,000 |
LAC COURTE OREILLES OJIBWE UNIVERSITY PURPOSE: The project is designed to foster 10 new traditional Anishinaabe harvesters in their communtiy. | $200,000 |
RED LAKE NATION COLLEGE PURPOSE: The project focuses on gathering original seeds to the area and traditional ricing, ice fishing, sugar maple camps, and food foraging. | $200,000 |
SISSETON WAHPETON COLLEGE PURPOSE: The project aims to create a demonstration of how healthy food systems are established using three families each year. | $200,000 |
SITTING BULL COLLEGE PURPOSE: 1) The project aims to increase access to food and cultural opportunities within the communities by providing workshops and resources on traditional skills. 2) The project focuses on vegetable production, providing produce and advertising for a farmers' market, and horsemanship opportunities. | $290,000 |