Dakota Resources
Dakota Resources
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About this organization
Mission
Dakota Resources is connecting capital and capacity to empower rural communities. Our impact programs lead to individual, organizational and financial capacity on a local level, which assists rural communities to develop their shared capacity and results in a thriving rural.
About
Through the capital products, Dakota Resources helps build the financial capacity of rural economic development corporations, revolving loan funds, municipalities, and local business owners in rural communities looking to invest in themselves. Dakota Resources' capital investment fund (CIF) is a $20.9 million loan fund making flexible capital available to rural economic development corporations and revolving loan funds that finance local development projects. The CIF was 94% deployed at the end of 2018. The CIF is the economic engine of Dakota Resources, generating a 2% margin. More importantly, it is a significant source of flexible capital for organizations in the state as it provides reasonably priced capital on a ten-year interest only term. Dakota Resources USDA community facility re-lending program is a $10 million allocation from USDA rural development to re-lend into essential community facilities in communities under 20,000 across South Dakota. Dakota Resources RBEG fund provides flexible low-cost capital to second-stage small business owners across the state of South Dakota.
Interesting data from their 2019 990 filing
According to the filing documents, the non-profit's mission is defined as “Connecting capacity and capital to empower rural communities.”.
When referring to its tasks, they were referred to as: “Connecting capacity and capital to empower rural communities.”.
- The non-profit's state of operation has been legally reported as SD.
- According to the latest filing, the non-profit's address in 2019 is 25795 475TH AVE, RENNER, SD, 57055.
- The total number of employees reported by the non-profit on their form for 2019 is 8.
- Is not a private foundation.
- Expenses are greater than $1,000,000.
- Revenue is greater than $1,000,000.
- Revenue less expenses is $1,216,484.
- The organization has 15 independent voting members.
- The organization was formed in 1996.
- The organization pays $992,147 in salary, compensation, and benefits to its employees.
- The organization pays $12,730 in fundraising expenses.
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