Overview
What is Dakota Business Finance?
Dakota Business Finance is a financial institution situated in Sioux Falls, South Dakota, specifically at 500 N Western Avenue 100, 57104. Their primary mission is to support various businesses by providing financing options through the SBA 504 Loan Program. This program offers fixed-rate financing for the procurement of long-term assets, including the purchase of land, construction or renovation of buildings, and acquisition of long-term machinery and equipment. By providing these financial solutions, Dakota Business Finance aims to assist businesses in expanding their operations and reaching their goals.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 94% (Four-Star out of Four Stars)
Dakota Business Finance has achieved a notable Four-Star rating from Charity Navigator, reflecting its strong performance in accountability and finance. The charity's overall score is derived from a single beacon score, with a perfect accountability and finance score of 94%. This high rating emphasizes the organization's commitment to transparency and effective management of its resources.
The nonprofit demonstrates excellence with 100% independent board members and a well-rounded independent board size. Additionally, it has received full marks in key areas such as financial auditing, absence of material diversion of assets, and the implementation of conflict of interest and whistleblower policies. These factors contribute to a solid foundation of trust and governance within the organization.
While the charity has a commendable program expense ratio of 88.59%, showcasing that a significant portion of its expenses are directed towards its programs, ongoing efforts to maintain transparency and accountability will be crucial for sustaining stakeholder confidence. Overall, Dakota Business Finance shows a strong commitment to ethical practices and financial responsibility.
This AI summary has been generated from information found on Charity Navigator.
Is Dakota Business Finance legitimate?
Dakota Business Finance is a legitimate nonprofit organization registered as a 501(c)(3) entity. Dakota Business Finance 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.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Dakota Business Finance?
Dakota Business Finance's mission is centered around providing financial aid to a variety of businesses. They achieve this through the SBA 504 Loan Program, which offers fixed-rate financing for the acquisition of essential long-term assets. These assets include the purchase of land, construction or renovation of buildings, upgrading existing facilities, and acquiring long-term machinery and equipment. The primary goal is to support businesses in their growth and development by offering affordable and reliable financing solutions.
Who is the CEO of Dakota Business Finance?
Brian Gilbert is the President of Dakota Business Finance.
What is the revenue of Dakota Business Finance?
Dakota Business Finance's revenue in 2022 was $1,543,251.
Who are the executives of Dakota Business Finance and what are their salaries?
Here are 9 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Dakota Business Finance?
Dakota Business Finance's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Dakota Business Finance
Dakota Business Finance, as a financial organization, is committed to supporting a diverse array of businesses by offering financing options through the SBA 504 Loan Program. This program allows Dakota Business Finance to provide fixed-rate financing for the acquisition of long-term assets, such as purchasing land, constructing or renovating buildings, and procuring long-term machinery and equipment. By offering these financing solutions, Dakota Business Finance plays a crucial role in facilitating business growth and expansion, ultimately contributing to the overall economic development of the business community.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
October, 2024
Dakota Business Finance significantly enhances the economic landscape by facilitating access to crucial financing for businesses in the region through the SBA 504 Loan Program. This program allows businesses to secure fixed-rate financing for essential long-term investments, such as acquiring land, constructing and renovating buildings, and purchasing machinery and equipment.
By supporting these capital expenditures, Dakota Business Finance fosters business growth and sustainability, empowering enterprises to expand their operations, improve facilities, and invest in new technologies. This, in turn, not only bolsters individual businesses but also contributes to overall community improvement, stimulating job creation and enhancing the local economy in Sioux Falls and beyond. The targeted financial support provided by Dakota Business Finance enables businesses to thrive, thus playing a vital role in strengthening the economic foundation of the region.
This information is meant to be a general summary of Dakota Business Finance. Please take the time to review official sources before making any decisions based upon the content provided here.
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.
- Investment Income: $7,820
- Program Service Revenue: $1,321,230
- Gross Receipts: $1,543,251
Assets and Liabilities:
- Total Assets: $1,006,804
- Total Liabilities: $96,871
- Net Assets: $909,933
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Loan Closing Fees
Revenue
$664,011
Servicing Fees
Revenue
$657,219
Organization Details
Founding Year
2005
Phone
(605) 367-5390Principal Officer
Brian Gilbert
Main Address
500 N Western Avenue 100, Sioux Falls, SD, 57104
NTEE Category
Code: S990 - Community improvement
If you are a representative of Dakota Business Finance 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.