Overview
What is The Lakota Funds Incorporated?
The Lakota Funds Incorporated is a nonprofit organization situated in Kyle, South Dakota (with a postal address of PO Box 340, SD 57752). Their primary mission is to foster economic sustainability within the Pine Ridge Reservation and its surrounding area by providing various resources. This includes offering business loans, delivering technical assistance, and conducting wealth-building education for both families and businesses in the region. The Lakota Funds exists to support small enterprises based on the Pine Ridge Indian Reservation, offering business management education, technical assistance, start-up capital, and working capital loans. Their team consists of 10 dedicated individuals.
Official website here: www.lakotafunds.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 92%, Four-Star out of Four Star rating.
The Lakota Funds Incorporated has earned a robust Four-Star rating from Charity Navigator, reflecting an overall score of 92%. This high rating is entirely derived from its strong performance in the Accountability & Finance beacon, indicating a commitment to transparency and sound financial management. The organization demonstrates exemplary governance with 100% of its board members being independent, which enhances its credibility and integrity.
Strengths include a solid financial oversight structure, evidenced by perfect scores in areas such as financial statements management and the absence of material asset diversions. The organization also shows a commendable allocation of its resources, with 77.36% of its spending directed towards programs, which speaks to its focus on fulfilling its mission effectively.
However, a minor limitation noted is the absence of a whistleblower policy, which received a score of zero in that category. While this does not necessarily detract significantly from the overall rating, it indicates an area for potential improvement in governance practices. Overall, The Lakota Funds Incorporated presents itself as a well-managed organization dedicated to its goals.
This AI summary has been generated from information found on Charity Navigator.
Is The Lakota Funds Incorporated legitimate?
The Lakota Funds Incorporated is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Lakota Funds Incorporated 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: $147,569
Professional Fundraising Fees: $0
Other Salaries and Wages: $718,348
For more financial information, click here
Official website here: www.lakotafunds.org
What is the mission statement of The Lakota Funds Incorporated?
The Lakota Funds Incorporated is committed to fostering economic sustainability within its operational area, primarily through the provision of business loans, technical assistance, and wealth-building education to families and businesses. Their mission is to exist as a resource, offering business management education, start-up capital, and working capital loans to small businesses, thereby promoting financial growth and self-sufficiency.
Official website here: www.lakotafunds.org
What is the revenue of The Lakota Funds Incorporated?
The Lakota Funds Incorporated's revenue in 2023 was $6,200,914.
Official website here: www.lakotafunds.org
Who are the executives of The Lakota Funds Incorporated and what are their salaries?
The average compensation at The Lakota Funds Incorporated during 2023 was $45,575. There are 19 employees at The Lakota Funds Incorporated.
Here are 9 key members and their salaries:
- Compensation: $117,828
- Related: $0
- Other: $17,897
- Compensation: $2,509
- Related: $0
- Other: $55
- Compensation: $2,270
- Related: $0
- Other: $170
- Compensation: $2,230
- Related: $0
- Other: $130
- Compensation: $2,025
- Related: $0
- Other: $225
- Compensation: $1,431
- Related: $0
- Other: $31
- Compensation: $1,379
- Related: $0
- Other: $79
- Compensation: $0
- Related: $0
- Other: $44
- Compensation: $0
- Related: $0
- Other: $26
Official website here: www.lakotafunds.org
Where can I find the form 990 for The Lakota Funds Incorporated?
The Lakota Funds Incorporated's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.lakotafunds.org
Learn more at the official website: www.lakotafunds.org
Mission Statement of The Lakota Funds Incorporated
The Lakota Funds Incorporated is committed to fostering economic sustainability within its service area, primarily focusing on the Pine Ridge Reservation. This nonprofit organization achieves this mission by providing various resources and support to small businesses and families. They offer business management education, technical assistance, start-up capital, and working capital loans to these entities, aiming to empower them financially and promote wealth building. The Lakota Funds Incorporated believes in the importance of supporting local businesses, contributing to their growth and stability, and ultimately, enhancing the overall economic well-being of the community.
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Impact
July, 2024
The impact of The Lakota Funds Incorporated is evident in their mission to promote economic sustainability on the Pine Ridge Reservation and surrounding areas. By providing business loans, technical assistance, and wealth-building education to families and businesses, they are actively supporting the growth and success of small businesses in the region. Through their efforts, The Lakota Funds is contributing to the economic development and empowerment of the community, ultimately fostering a more sustainable and thriving local economy.
This information is meant to be a general summary of The Lakota Funds Incorporated. 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 2023.
- Investment Income: $83,642
- Program Service Revenue: $806,419
- Gross Receipts: $6,200,914
Assets and Liabilities:
- Total Assets: $17,693,947
- Total Liabilities: $6,510,400
- Net Assets: $11,183,547
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOAN INTEREST INCOME
Revenue
$520,765
MANAGEMENT FEE INCOME
Revenue
$186,589
OTHER PROGRAM REVENUE
Revenue
$99,065
Organization Details
Founding Year
1987
Principal Officer
Tawney Brunsch
Website
www.lakotafunds.orgNTEE Category
Code: S430 - Community improvement
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