Dakota Business Lending

Analysis

Dakota Business Lending is a registered charity in United States, based in Fargo, ND. It received its IRS tax-exemption ruling in November 1998, 28 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Dakota Business Lending reported income of $3.5m and spending of $2.7m, leaving 23% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.4m to $3.5m (+155%), an average of +26% a year. The sharpest change came in the year to December 2021, when income rose by 55%. Over the whole period it spent 87% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Dakota Business Lending sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 89th percentile within ND. Charities of a similar size with the same main cause include Temps to the Rescue Inc ($3.5m), Community Resource Center Inc ($3.5m) and Waterfront Alliance Inc ($3.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 3.6% and program service revenue 86% of the total. Compensation of current officers, directors and key employees was $286k (11% of expenses). Other salaries and wages came to $1.3m. At year end it held assets of $8.8m against liabilities of $3.9m, net assets of $4.9m. It reported 20 employees.