Organizations Filed Purposes:
CONNECTING CAPACITY AND CAPITAL TO EMPOWER RURAL COMMUNITIES.
THROUGH CAPITAL PRODUCTS, DAKOTA RESOURCES HELPS BUILD THE FINANCIAL CAPACITY OF RURAL ECONOMIC DEVELOPMENT CORPORATIONS AND REVOLVING LOAN FUNDS. THE CAPITAL INVESTMENT FUND (CIF) IS A $19.8 MILLION LOAN FUND MAKING FLEXIBLE CAPITAL AVAILABLE TO FINANCE LOCAL DEVELOPMENT PROJECTS. THE CIF WAS 89% DEPLOYED AT THE END OF 2019. THE CIF IS THE ECONOMIC ENGINE OF DAKOTA RESOURCES, GENERATING A 2% MARGIN. MORE IMPORTANTLY, IT IS A SIGNIFICANT SOURCE OF FLEXIBLE CAPITAL FOR RURAL ECONOMIC DEVELOPMENT CORPORATIONS AND REVOLVING LOAN FUNDS IN THE STATE, PROVIDING REASONABLY PRICED CAPITAL ON A TEN-YEAR INTEREST-ONLY TERM.DAKOTA RESOURCES RECEIVED A $10 MILLION ALLOCATION FROM USDA RURAL DEVELOPMENT UNDER THE COMMUNITY FACILITY RE-LENDING PROGRAM TO RE-LEND INTO ESSENTIAL COMMUNITY FACILITIES IN COMMUNITIES UNDER 20,000 ACROSS SOUTH DAKOTA. THROUGH THIS PROGRAM, DAKOTA RESOURCES HAS INVESTED $4.75 MILLION TO PROVIDE ESSENTIAL COMMUNITY FACILITIES IN RURAL SOUTH DAKOTA.DAKOTA RESOURCES RBEG LOAN FUND PROVIDES FLEXIBLE LOW-COST CAPITAL TOSECOND-STAGE SMALL BUSINESS OWNERS ACROSS THE STATE OF SOUTH DAKOTA.
THROUGH CAPACITY BUILDING, DAKOTA RESOURCES HELPS RURAL COMMUNITIES THRIVE THROUGH INNOVATIVE PROCESSES, TOOLS, TRAINING, AND RESOURCES. THE DEVELOPMENT SERVICES PROGRAMS ARE DESIGNED TO ENHANCE RURAL ENTREPRENEUR AND BUSINESS DEVELOPMENT, RURAL HOUSING DEVELOPMENT, AND COMMUNITY AND LEADERSHIP DEVELOPMENT. THE DAKOTA RESOURCES LEARNING NETWORK IS DESIGNED TO HELP RURAL COMMUNITIES AND RURAL ECONOMIC DEVELOPMENT LEADERS CONNECT AND ENGAGE WITH ONE ANOTHER IN ORDER TO EXPLORE AND LEARN MORE ABOUT TOPICS THAT MATTER MOST TO RURAL ECONOMIC AND COMMUNITY DEVELOPMENT: ENGAGING PEOPLE, SUPPORTING HOUSING DEVELOPMENT, SUPPORTING LOCAL BUSINESSES AND MANAGING LOCAL ECONOMIC DEVELOPMENT ORGANIZATIONS.THE DAKOTA RESOURCES LEARNING NETWORK MEMBERSHIP ALLOWS LOCAL ECONOMIC DEVELOPMENT LEADS TO CONNECT WITH OTHERS THROUGH A VIBRANT ONLINE COMMUNITY OF RURAL CHANGE LEADERS THAT INCLUDES:- LIVE/ON-DEMAND WEBINARS EACH MONTH- PEER-TO-PEER LEARNING VIDEO CONFERENCES- ONLINE INTERACTIVE STORIES AND BEST PRACTICES- OPEN SOURCE TOOLKIT AND RESOURCE LIBRARY ACCESS- IN-PERSON TRAININGS AND NETWORK GATHERINGSTHE EMPOWER COMMUNITY COACHING PROCESS IS A 24 MONTH PHASED COACHING PROCESS THAT MAXIMIZES A COMMUNITY'S APPROACH TO EMPOWERING LOCAL PEOPLE AND ORGANIZATIONS TO LEAD ACTION.
DAKOTA RESOURCES HAS 51% OWNERSHIP IN DAKOTAS AMERICA, LLC, WHICH WASFORMED THROUGH A JOINT VENTURE SOLELY FOR THE PURPOSE OF APPLYING FORALLOCATIONS OF NEW MARKETS TAX CREDITS (NMTC) FROM THE US DEPARTMENT OF TREASURY CDFI FUND. DAKOTAS AMERICA, LLC IS A RURAL COMMUNITY DEVELOPMENT ENTITY (CDE) WITH A NATIONAL SERVICE AREA. THE MISSION IS TO PROVIDE NMTC INVESTMENT TO THE MOST ISOLATED, DISTRESSED AND UNDERSERVED AREAS OF THE UNITED STATES. DAKOTA RESOURCES HAS A SEVEN-YEAR MANAGEMENT AGREEMENT IN PLACE TO MANAGE DAKOTAS AMERICA THROUGH DECEMBER 31, 2023. SINCE INCEPTION, DAKOTAS AMERICA HAS BEEN AWARDED FIVE ALLOCATIONS OF AUTHORITY TO ISSUE $400,000,000 OF QUALIFIED EQUITY INVESTMENTS (QEI).
Executives Listed on Filing
Total Salary includes financial earnings, benefits, and all related organization earnings listed on tax filing
| Name | Title | Hours Per Week | Total Salary |
|---|
| Linda Van Hofwegen | DALLC MANAGING DIRECTOR | 40 | $140,308 |
| Joe Bartmann | PRESIDENT | 40 | $135,865 |
| Kristi Wagner | SR. COMMUNITY COACH | 40 | $125,791 |
| Dustin Ludens | DALLC VP-PORTFOLIO MGMT. | 40 | $124,119 |
| Jay Headley | VP OF FINANCE | 40 | $88,011 |
| Brian Spitzer | BOARD MEMBER | 0.5 | $0 |
| Rachael Sherard | BOARD MEMBER | 0.5 | $0 |
| Jim Schmidt | BOARD MEMBER | 0.5 | $0 |
| Linda Salmonson | BOARD MEMBER | 0.5 | $0 |
| Scott Parsley | BOARD MEMBER | 0.5 | $0 |
| Brad Moore | BOARD MEMBER | 0.5 | $0 |
| Kelly Melius | BOARD MEMBER | 0.5 | $0 |
| Marty Huether | BOARD MEMBER | 0.5 | $0 |
| Connie Halverson | BOARD MEMBER | 0.5 | $0 |
| Justin Gray | BOARD MEMBER | 0.5 | $0 |
| Jacqson Collins | BOARD MEMBER | 0.5 | $0 |
| Gary Cammack | BOARD MEMBER | 0.5 | $0 |
| Mark Litton | SECRETARY/TREASURER | 1 | $0 |
| Heidi Zeller-Crawford | VICE CHAIR | 1 | $0 |
| Ruth Christopherson | CHAIR | 2 | $0 |
Data for this page was sourced from XML published by IRS (
public 990 form dataset) from:
https://s3.amazonaws.com/irs-form-990/202043179349301799_public.xml