Civic Intelligence

Dbl Equity Partners

990 • Fiscal year 2021 • EIN 83-1825710

Jan 01, 2021 to Dec 31, 2021 • Filed on Nov 02, 2022

Organization ProfileDAKOTABUSINESSLENDING.COM
5630 36th Ave SFargo, ND 58104

(701) 293-8892

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

94th percentile

1.00x

Higher debt load relative to assets than 94% of similar nonprofits.

2021 filings • NTEE S • $500k-$1M nonprofits • Source year 2021

Liabilities / Revenue

88th percentile

1.03x

Higher debt load relative to revenue than 88% of similar nonprofits.

2021 filings • NTEE S • $500k-$1M nonprofits • Source year 2021

Net Margin

39th percentile

5.0%

Higher net margin than 39% of similar nonprofits.

2021 filings • NTEE S • $500k-$1M nonprofits • Source year 2021

Top Officer Pay

92nd percentile

$196,816

Higher top officer pay than 92% of similar nonprofits.

Top officer pay equals 20.6% of source-year revenue.

2021 filings • NTEE S • $500k-$1M nonprofits • Source year 2021

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2021

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2021

Balance Sheet
Liabilities / Assets94th percentile

Assets

$983,044

No earlier filing loaded for comparison.

Net Assets

$0

No earlier filing loaded for comparison.

Liabilities

$983,044

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue88th percentileNet Margin39th percentile

Revenue

$953,194

No earlier filing loaded for comparison.

Expenses

$905,185

No earlier filing loaded for comparison.

Net Income

$48,009

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$1.5M$1.0M$500K$0-$500KAssets 2021: $983,044Liabilities 2021: $983,044Net Assets 2021: $02021Assets 2022: $640,444Liabilities 2022: $640,450Net Assets 2022: -$62022Assets 2023: $1,380,868Liabilities 2023: $1,380,889Net Assets 2023: -$212023Assets 2024: $225,099Liabilities 2024: $225,137Net Assets 2024: -$382024

Highlighted filing

2021

Assets$983,044
Liabilities$983,044
Net Assets$0
Open 2021 Filing

Operations Trend

Revenue GrowthScore unavailable

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2021: $953,194Expenses 2021: $905,185Net Income 2021: $48,0092021Revenue 2022: $1,012,179Expenses 2022: $1,012,185Net Income 2022: -$62022Revenue 2023: $2,060,835Expenses 2023: $2,060,850Net Income 2023: -$152023Revenue 2024: $304,896Expenses 2024: $304,913Net Income 2024: -$172024

Highlighted filing

2021

Revenue$953,194
Expenses$905,185
Net Income$48,009
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Nov 2, 2022
Return Version
2021v4.2
Gross Receipts
$953,194
Mission and Program Overview

Mission

To serve and provide products, services, loans and/or investment capital for qualified low income persons or low income communities and to further the affordable housing, neighborhood and community revitalization, and economic development efforts.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$0$981,464▲ $981,464
Investments Other Securities-$1,580-
Total Assets$0$983,044▲ $983,044
Liabilities
Other Liabilities$0$637,044▲ $637,044
Accounts Payable and Accrued Expenses$48,009$316,000▲ $267,991
Deferred Revenue-$30,000-
Total Liabilities$48,009$983,044▲ $935,035
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-48,009$0▲ $48,009
Total Net Assets Fund Balance$-48,009$0▲ $48,009
Total Liabilities and Net Assets / Fund Balance$0$983,044▲ $983,044
Compensation and Service Providers
Top Officer Pay92nd percentile

Employees

NameTitleOtherTotal
Dan JacobsonBoard Member$2,450$2,450
John PhillipsBoard Member$2,450$2,450

Board Members and Trustees

NameTitle
Steve DusekPresident/secretary
Craig HansonBoard Member
Steve BritschBoard Member

Highest Paid Contractors

ContractorServicesLocationCompensation
Arkansas Capital CorporationConsulting Fees200 RIVER MARKET AVE STE 400, Little Rock, AR 72201$316,000
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$953,194
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$48,009
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$905,185
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management$543,919$28,627-$572,546
Fees for Services Other$331,000--$331,000
Fees for Services Legal-$1,229-$1,229
Office Expenses$150$260-$410
Total Functional Expenses$875,069$30,116$0$905,185
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Dakota Business Lending$637,044
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

“The sole member is dakota business lending, the controlling organization of dbl equity partners.”

Form 990, Part VI, Section A, Line 7A

“Three-fifths of the board much be officers, trustees, or employees of dakota business lending.”

Form 990, Part VI, Section B, Line 11B

“The form 990 is distributed to the governing body at a board meeting to give them the opportunity to make any necessary changes and approve the 990.”

Form 990, Part VI, Section B, Line 12C

“Annual filing of organizations affiliated by each officer, director or trstee, and key employee.”

Form 990, Part VI, Section B, Line 15

“Compensation is from a related organization. The related organization determines compensation by the board of directors using their knowledge from running their own businesses as well as evaluating the experience level of the employee.”

Form 990, Part VI, Section C, Line 19

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Dbl Equity Partners
EIN
83-1825710
Phone
7012938892
Address
5630 36TH AVE S, FARGO, ND 58104

Signing Officer

Name
Steve Dusek
Title
President/secretary
Phone
7012938892
Signed
2022-11-02
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Steve Dusek
Formed
2018
Legal Domicile
Nd
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
0

Preparer

Firm
Brady Martz & Associates Pc
Address
PO BOX 14296, GRAND FORKS, ND 58208-4296
Preparer
Ashley Engel
Phone
7017754685
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Consulting fees: program service expenses 331,000. Management and general expenses 0. Fundraising expenses 0. Total expenses 331,000.”

Financial Statement Notes

PART X, LINE 2:

“The organization and subsidiary are exempt from federal income taxes under section 501(c)(3) of the internal revenue code, and from payment of state income taxes under section 57-38-09 of the north dakota century code. The organization and subsidiary's policy is to evaluate the likelihood that its uncertain tax positions will prevail upon examination based on the extent to which those positions have substantial support within the internal revenue code and regulations, revenue rulings, court decisions, and other evidence. It is the opinion of management that the organization and subsidiary have no significant uncertain tax positions that would be subject to change upon examination. The federal and state income tax returns of the organization and subsidiary are subject to examination by the irs, generally three years after they were filed, all fillings are current.”

Raw XML Appendix391 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION AND SUBSIDIARY ARE EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, AND FROM PAYMENT OF STATE INCOME TAXES UNDER SECTION 57-38-09 OF THE NORTH DAKOTA CENTURY CODE. THE ORGANIZATION AND SUBSIDIARY'S POLICY IS TO EVALUATE THE LIKELIHOOD THAT ITS UNCERTAIN TAX POSITIONS WILL PREVAIL UPON EXAMINATION BASED ON THE EXTENT TO WHICH THOSE POSITIONS HAVE SUBSTANTIAL SUPPORT WITHIN THE INTERNAL REVENUE CODE AND REGULATIONS, REVENUE RULINGS, COURT DECISIONS, AND OTHER EVIDENCE. IT IS THE OPINION OF MANAGEMENT THAT THE ORGANIZATION AND SUBSIDIARY HAVE NO SIGNIFICANT UNCERTAIN TAX POSITIONS THAT WOULD BE SUBJECT TO CHANGE UPON EXAMINATION. THE FEDERAL AND STATE INCOME TAX RETURNS OF THE ORGANIZATION AND SUBSIDIARY ARE SUBJECT TO EXAMINATION BY THE IRS, GENERALLY THREE YEARS AFTER THEY WERE FILED, ALL FILLINGS ARE CURRENT.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0203754
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0COMPENSATION IS FROM A RELATED ORGANIZATION. THE RELATED ORGANIZATION DETERMINES COMPENSATION BASED ON APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE.
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 3
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE SOLE MEMBER IS DAKOTA BUSINESS LENDING, THE CONTROLLING ORGANIZATION OF DBL EQUITY PARTNERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THREE-FIFTHS OF THE BOARD MUCH BE OFFICERS, TRUSTEES, OR EMPLOYEES OF DAKOTA BUSINESS LENDING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE FORM 990 IS DISTRIBUTED TO THE GOVERNING BODY AT A BOARD MEETING TO GIVE THEM THE OPPORTUNITY TO MAKE ANY NECESSARY CHANGES AND APPROVE THE 990.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ANNUAL FILING OF ORGANIZATIONS AFFILIATED BY EACH OFFICER, DIRECTOR OR TRSTEE, AND KEY EMPLOYEE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4COMPENSATION IS FROM A RELATED ORGANIZATION. THE RELATED ORGANIZATION DETERMINES COMPENSATION BY THE BOARD OF DIRECTORS USING THEIR KNOWLEDGE FROM RUNNING THEIR OWN BUSINESSES AS WELL AS EVALUATING THE EXPERIENCE LEVEL OF THE EMPLOYEE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6CONSULTING FEES: PROGRAM SERVICE EXPENSES 331,000. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 331,000.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART IX, LINE 11G
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0DAKOTA BUSINESS LENDING
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0450443523
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0ND
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0SMALL BUSINESS FUNDING
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0LINE 10
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt05630 36TH AVE S
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0FARGO
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0ND
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd058104
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd01
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd01
IRS990ScheduleR/PerformOfServicesByOtherOrgInd01
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd01
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsEOYAmt0983044
IRS990/TotalAssetsGrp/BOYAmt00
IRS990/TotalAssetsGrp/EOYAmt0983044
IRS990/TotalCompGreaterThan150KInd01
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt030116
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0875069
IRS990/TotalFunctionalExpensesGrp/TotalAmt0905185
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt048009
IRS990/TotalLiabilitiesEOYAmt0983044
IRS990/TotalLiabilitiesGrp/BOYAmt048009
IRS990/TotalLiabilitiesGrp/EOYAmt0983044
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-48009
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt00
IRS990/TotalOtherCompensationAmt031993
IRS990/TotalProgramServiceExpensesAmt0875069
IRS990/TotalProgramServiceRevenueAmt0953194
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0953194
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0953194
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0983044
IRS990/TotReportableCompRltdOrgAmt0169723
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt05630 36TH AVE S
IRS990/USAddress/CityNm0FARGO
IRS990/USAddress/StateAbbreviationCd0ND
IRS990/USAddress/ZIPCd058104
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0DAKOTABUSINESSLENDING.COM
IRS990/WhistleblowerPolicyInd01
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd00
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0STEVE DUSEK
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT/SECRETARY
ReturnHeader/BusinessOfficerGrp/PhoneNum07012938892
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-11-02
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0DBL EQUITY PARTNERS
ReturnHeader/Filer/BusinessNameControlTxt0DBLE
ReturnHeader/Filer/EIN0831825710
ReturnHeader/Filer/PhoneNum07012938892
ReturnHeader/Filer/USAddress/AddressLine1Txt05630 36TH AVE S
ReturnHeader/Filer/USAddress/CityNm0FARGO
ReturnHeader/Filer/USAddress/StateAbbreviationCd0ND
ReturnHeader/Filer/USAddress/ZIPCd058104
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0450310328
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BRADY MARTZ & ASSOCIATES PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 14296
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0GRAND FORKS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0ND
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0582084296
ReturnHeader/PreparerPersonGrp/PhoneNum07017754685
ReturnHeader/PreparerPersonGrp/PreparationDt02022-11-02
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ASHLEY ENGEL
ReturnHeader/ReturnTs02022-11-03T10:30:11-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0STEVE
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0DUSEK
ReturnHeader/TaxPeriodBeginDt02021-01-01
ReturnHeader/TaxPeriodEndDt02021-12-31
ReturnHeader/TaxYr02021

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$983,044
Liabilities
$983,044
Net assets
$0
Revenue
$953,194
Expenses
$905,185
Net income
$48,009
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.23$0.23$0.00$0.30$0.30$0.00
2023Detailed filing. Detailed filing data is available for this year.$1.38$1.38$0.00$2.06$2.06$0.00
2022Detailed filing. Detailed filing data is available for this year.$0.64$0.64$0.00$1.01$1.01$0.00
2021Detailed filing. Detailed filing data is available for this year.$0.98$0.98$0.00$0.95$0.91$0.05