Civic Intelligence

Dbl Equity Partners

990 • Fiscal year 2022 • EIN 83-1825710

Jan 01, 2022 to Dec 31, 2022 • Filed on Jun 27, 2023

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.

2022 filings • NTEE S • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

76th percentile

0.63x

Higher debt load relative to revenue than 76% of similar nonprofits.

2022 filings • NTEE S • $1M-$5M nonprofits • Source year 2022

Net Margin

33rd percentile

-0.0%

Higher net margin than 33% of similar nonprofits.

2022 filings • NTEE S • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

83rd percentile

$242,046

Higher top officer pay than 83% of similar nonprofits.

Top officer pay equals 23.9% of source-year revenue.

2022 filings • NTEE S • $1M-$5M nonprofits • Source year 2022

Asset Growth

3rd percentile

-35%

Faster asset growth than 3% of similar nonprofits.

2022 filings • NTEE S • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

49th percentile

6.2%

Faster revenue growth than 49% of similar nonprofits.

2022 filings • NTEE S • $1M-$5M nonprofits • Annualized from 2021 to 2022

Assets

Down

$640,444

Down $342,600 (-35%) from 2021

Net Assets

Down

-$6

Down $6 from 2021

Liabilities

Down

$640,450

Down $342,594 (-35%) from 2021

Revenue

Up

$1,012,179

Up $58,985 (+6.2%) from 2021

Expenses

Up

$1,012,185

Up $107,000 (+12%) from 2021

Net Income

Down

-$6

Down $48,015 (-100%) from 2021

Historical Trend

Balance Sheet Trend

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

2022

Assets$640,444
Liabilities$640,450
Net Assets-$6

Operations Trend

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

2022

Revenue$1,012,179
Expenses$1,012,185
Net Income-$6
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Jun 27, 2023
Return Version
2022v5.0
Gross Receipts
$1,012,179
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.

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 revitilazation and economic development efforts.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$981,464$637,377▼ $344,087
Investments Other Securities$1,580$2,994▲ $1,414
Accounts Receivable-$73-
Total Assets$983,044$640,444▼ $342,600
Liabilities
Other Liabilities$637,044$640,377▲ $3,333
Deferred Revenue$30,000--
Accounts Payable and Accrued Expenses$316,000$73▼ $315,927
Total Liabilities$983,044$640,450▼ $342,594
Net Assets / Fund Balance
Net Assets Without Donor Restrictions-$-6-
Total Net Assets Fund Balance$0$-6▼ $6
Total Liabilities and Net Assets / Fund Balance$983,044$640,444▼ $342,600
Compensation and Service Providers

Employees

NameTitleOtherTotal
John PhillipsBoard Member$2,250$2,250
Cole KeneyBoard Member$1,700$1,700

Board Members and Trustees

NameTitle
Steve DusekPresident & CEO
Craig HansonBoard Member
Steve BritschBoard Member

Highest Paid Contractors

ContractorServicesLocationCompensation
Arkansas Capital CorporationConsulting Fees200 RIVER MARKET AVE STE 400, Little Rock, AR 72201$305,780
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$922,145
Investment Income
$29
Other Revenue
$90,005
Change in Net Assets
$-6
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,012,185
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$639,888--$639,888
Fees for Services Other$309,555--$309,555
Fees for Services Accounting-$43,850-$43,850
Fees for Services Legal-$17,252-$17,252
Office Expenses$1,125$499-$1,624
Other Expenses$16--$16
Total Functional Expenses$950,584$61,601$0$1,012,185
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$640,377
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 must 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 trustee, 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 & CEO
Phone
7012938892
Signed
2023-06-27
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
Novogradac & Company Llp
Address
600 WASHINGTON AVE SUITE 1600, ST LOUIS, MO 63101
Preparer
Kevin Wilson
Phone
3146213471
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Consulting fees: program service expenses 309,555. Management and general expenses 0. Fundraising expenses 0. Total expenses 309,555.

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.

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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.
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt0152000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt013625
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt021779
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt054642
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0STEVE DUSEK
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT & CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0242046
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 MUST 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 TRUSTEE, 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 309,555. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 309,555.
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/TotalAssetsBOYAmt0983044
IRS990/TotalAssetsEOYAmt0640444
IRS990/TotalAssetsGrp/BOYAmt0983044
IRS990/TotalAssetsGrp/EOYAmt0640444
IRS990/TotalCompGreaterThan150KInd01
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt061601
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0950584
IRS990/TotalFunctionalExpensesGrp/TotalAmt01012185
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0983044
IRS990/TotalLiabilitiesEOYAmt0640450
IRS990/TotalLiabilitiesGrp/BOYAmt0983044
IRS990/TotalLiabilitiesGrp/EOYAmt0640450
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-6
IRS990/TotalOtherCompensationAmt035404
IRS990/TotalProgramServiceExpensesAmt0950584
IRS990/TotalProgramServiceRevenueAmt0922145
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01012179
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01012179
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0983044
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0640444
IRS990/TotReportableCompRltdOrgAmt0210592
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/TrustedCustomerCd03
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0STEVE DUSEK
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT & CEO
ReturnHeader/BusinessOfficerGrp/PhoneNum07012938892
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-06-27
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/IRSResponsiblePrtyInfoCurrInd00
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0943108253

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