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TO STIMULATE ECONOMIC OPPORTUNITIES THROUGH LOANS, TECHNICAL SUPPORT AND PARTNERSHIPS
Source: IRS Form 990 (Tax Year 2024)
Source: IRS e-Filed Form 990 (from the IRS e-File system), Tax Year 2023
Total Revenue
▼$1.7M
Program Spending
75%
of total expenses go to program services
Total Contributions
$479.8K
Total Expenses
▼$1M
Total Assets
$32.6M
Total Liabilities
▼$12.2M
Net Assets
$20.4M
Officer Compensation
→N/A
Other Salaries
$376.6K
Investment Income
$129.2K
Fundraising
▼N/A
Source: USAspending.gov · Searched by organization name
Total Federal Funding
$11.5M
Awards Found
43
Department of Health and Human Services
$780.8K
WORKING CAPITAL LOAN TO SUPPORT DAKOTA PROVISIONS EXPANSION
Department of Health and Human Services
$740.4K
COMMUNITY ECONOMIC DEVELOPMENT (CED) PROJECTS
Department of Health and Human Services
$686K
COMMUNITY ECONOMIC DEVELOPMENT PROGRAMS OPERATIONAL PROJECTS
Department of Agriculture
$200K
RBDG RURAL BUSINESS COOP RURAL ENTERPRISE GRANT
Department of Agriculture
$179.5K
RBDG RURAL BUSINESS COOP RURAL ENTERPRISE GRANT
Small Business Administration
$165.2K
NORTHEAST SOUTH DAKOTA ECONOMIC CORPORATION TO ASSIST ALL ENTREPRENEURS BUSINESS OWNERS AND OTHER INDIVIDUALS POSSESSING THE CAPABILITY TO OPERATE SUCCESSFUL BUSINESS CONCERNS AND TO ASSIST SMALL BUSINESS CONCERNS IN THOSE AREAS SUFFERING FROM A LACK OF CREDIT DUE TO ECONOMIC DOWNTURNS UNDER THE PROGRAM THE SMALL BUSINESS ADMINISTRATION SBA WILL MAKE LOANS OR PROVIDE GUARANTIES TO PRIVATE NON PROFIT AND QUASI GOVERNMENTAL ORGANIZATIONS INTERMEDIARY LENDERS THAT WILL USE THE LOAN FUNDS TO MAKE SHORT TERM FIXED INTEREST RATE MICROLOANS IN AMOUNTS UP TO 50000 DOLLARS TO START UP NEWLY ESTABLISHED AND GROWING SMALL BUSINESS CONCERNS THESE MICROLOANS ARE TO BE USED EXCLUSIVELY FOR WORKING CAPITAL INVENTORY SUPPLIES FURNITURE FIXTURES MACHINERY AND OR EQUIPMENT IN ADDITION THE SBA WILL MAKE GRANTS TO PARTICIPATING INTERMEDIARY LENDERS TO PROVIDE MARKETING MANAGEMENT AND TECHNICAL ASSISTANCE TO PROSPECTIVE BORROWERS AND BORROWERS RECEIVING MICROLOANS UNDER THE PROGRAM SBA WILL ALSO PROVIDE TRAINING FOR INTERMEDIARY
Small Business Administration
$160.4K
SBA MICROLOAN TECHNICAL ASSISTANCE GRANT
Small Business Administration
$150K
NORTHEAST SOUTH DAKOTA EC CORP - SD
Small Business Administration
$130K
NORTHEAST SOUTH DAKOTA ECON CORP - SD
Department of Agriculture
$100K
SEC. 6022 RMAP-RURAL MICRO DEVELOP ORGANIZATIONS GRANTS (DISC)
Small Business Administration
$93.4K
MICROLOAN TECHNICAL ASSISTANCE PROGRAM
Small Business Administration
$75K
THE SMALL BUSINESS ADMINISTRATION (SBA) MICROLOAN PROGRAM PROVIDES DIRECT LOANS AND GRANTS TO ELIGIBLE NON-PROFIT MICROLENDERS SO THAT THEY MAY PROVIDE MICRO-LEVEL LOANS, AND BUSINESS BASED TRAINING AND TECHNICAL ASSISTANCE TO START- UP, NEWLY ESTABLISHED AND GROWING SMALL BUSINESS CONCERNS.
Small Business Administration
$56.6K
THE SMALL BUSINESS ADMINISTRATION (SBA) MICROLOAN PROGRAM PROVIDES DIRECT LOANS AND GRANTS TO ELIGIBLE NON-PROFIT MICROLENDERS SO THAT THEY MAY PROVIDE MICRO-LEVEL LOANS, AND BUSINESS BASED TRAINING AND TECHNICAL ASSISTANCE TO START- UP, NEWLY ESTABLISHED AND GROWING SMALL BUSINESS CONCERNS
Department of Agriculture
$55.3K
SEC. 6022 RMAP-RURAL MICRO DEVELOP ORGANIZATIONS GRANTS (DISC)
Small Business Administration
$51.7K
MICROLOAN PROGRAM - TECHNICAL ASSISTANCE
Department of Agriculture
$49.4K
SEC. 6022 RMAP-RURAL MICRO DEVELOP ORGANIZATIONS GRANTS (DISC)
Department of Agriculture
$37.8K
SEC. 6022 RMAP-RURAL DEVELOP GRANTS (MAN)
Department of Agriculture
$32.9K
SEC. 6022 RMAP-RURAL DEVELOP GRANTS (MAN)
Department of Agriculture
$32.8K
SEC. 6022 RMAP-RURAL MICRO ASSISTANCE GRANTS (DISC)
Department of Agriculture
$30.6K
SEC. 6022 RMAP-RURAL DEVELOP GRANTS (MAN)
Department of Agriculture
$29.8K
SEC. 6022 RMAP-RURAL MICRO ASSISTANCE GRANTS (DISC)
Department of Agriculture
$22.6K
SEC. 6022 RMAP-RURAL DEVELOP GRANTS (MAN)
Department of Agriculture
$19.4K
SEC. 6022 RMAP-RURAL DEVELOP GRANTS (MAN)
Department of Agriculture
$16.3K
SEC. 6022 RMAP-RURAL MICRO ASSISTANCE GRANTS (DISC)
Department of Agriculture
$13.4K
SEC. 6022 RMAP-RURAL DEVELOP GRANTS (MAN)
Department of Agriculture
$13.1K
SEC. 6022 RMAP-RURAL DEVELOP GRANTS (MAN)
Source: Federal Audit Clearinghouse (fac.gov)
Total Audits
10
Clean Audits
10
Material Weakness
No
Noncompliance Issues
No
| Year | Status | Financial Report | Federal Expenditure | Low Risk | Accepted |
|---|---|---|---|---|---|
| 2025 | Clean | Unmodified (Clean) | $7.4M | Yes | 2026-01-12 |
| 2024 | Clean | Unmodified (Clean) | $7.2M | Yes | 2025-01-15 |
| 2023 | Clean | Unmodified (Clean) | $6.4M | Yes | 2024-01-16 |
| 2022 | Clean | Unmodified (Clean) | $7.8M | Yes | 2023-01-18 |
| 2021 | Clean | Unmodified (Clean) | $5.1M | Yes | 2022-01-23 |
| 2020 | Clean | Unmodified (Clean) | $4.2M | Yes | 2021-01-20 |
| 2019 | Clean | Unmodified (Clean) | $4.9M | Yes | 2020-01-20 |
| 2018 | Clean | Unmodified (Clean) | $5.9M | Yes | 2019-01-15 |
| 2017 | Clean | Unmodified (Clean) | $6.6M | Yes | 2018-01-24 |
| 2016 | Clean | Unmodified (Clean) | $6.1M | Yes | 2017-01-17 |
Financial Report
Unmodified (Clean)
Federal Expenditure
$7.4M
Financial Report
Unmodified (Clean)
Federal Expenditure
$7.2M
Financial Report
Unmodified (Clean)
Federal Expenditure
$6.4M
Financial Report
Unmodified (Clean)
Federal Expenditure
$7.8M
Financial Report
Unmodified (Clean)
Federal Expenditure
$5.1M
Financial Report
Unmodified (Clean)
Federal Expenditure
$4.2M
Financial Report
Unmodified (Clean)
Federal Expenditure
$4.9M
Financial Report
Unmodified (Clean)
Federal Expenditure
$5.9M
Financial Report
Unmodified (Clean)
Federal Expenditure
$6.6M
Financial Report
Unmodified (Clean)
Federal Expenditure
$6.1M
Tax Year 2024 · Source: IRS e-Filed Form 990
Individuals serving as officers, directors, or trustees of the organization.
| Name | Title | Hrs/Wk | Compensation | Related Orgs | Other |
|---|
Source: IRS Publication 78, Auto-Revocation List & e-Postcard Data
Tax-deductible contributions: Yes
Deductibility code: PC
Sources: IRS e-Filed Form 990 (XML) & ProPublica Nonprofit Explorer
Scroll →
| Year | Revenue | Contributions | Expenses | Assets | Net Assets |
|---|---|---|---|---|---|
| 2023IRS e-File | $1.7M | $479.8K | $1M | $32.6M | $20.4M |
| 2022 | $2.8M | $1.9M | $913K | $28.8M | $19.3M |
| 2021 | $1.9M | $1.1M | $820.9K | $27.7M | $17.4M |
| 2020 | $1M | $123K | $730.3K |
Sources: ProPublica Nonprofit Explorer & IRS e-File Index
Financial data: IRS e-Filed Form 990 (Tax Year 2023)
Leadership & compensation: IRS e-Filed Form 990, Part VII (Tax Year 2024)
Federal grants: USAspending.gov (live)
Organization info: IRS Business Master File
Tax-deductibility: IRS Publication 78
| Total |
|---|
| Marcia Erickson | Chief Execut | 10 | $0 | $168.1K | $29.4K | $197.6K |
| Lori Finnesand | Chief Execut | 40 | $0 | $151.4K | $31.6K | $182.9K |
| Kathryn Rasmus | Chief Financ | 15 | $0 | $107.8K | $10.6K | $118.4K |
| Daniel Menking | Chairman | 1 | $0 | $0 | $0 | $0 |
| Craig Rau | Vice Chair | 1 | $0 | $0 | $0 | $0 |
| Patty Roehr | Secretary | 1 | $0 | $0 | $0 | $0 |
| Judy Steen | Treasurer | 1 | $0 | $0 | $0 | $0 |
Marcia Erickson
Chief Execut
$197.6K
Hrs/Wk
10
Compensation
$0
Related Orgs
$168.1K
Other
$29.4K
Lori Finnesand
Chief Execut
$182.9K
Hrs/Wk
40
Compensation
$0
Related Orgs
$151.4K
Other
$31.6K
Kathryn Rasmus
Chief Financ
$118.4K
Hrs/Wk
15
Compensation
$0
Related Orgs
$107.8K
Other
$10.6K
Daniel Menking
Chairman
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Craig Rau
Vice Chair
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Patty Roehr
Secretary
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Judy Steen
Treasurer
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Members of the governing board. Board members often serve without compensation.
| Name | Title | Hrs/Wk | Compensation | Related Orgs | Other | Total |
|---|---|---|---|---|---|---|
| Beth Smith | Director | 1 | $0 | $0 | $0 | $0 |
| Colleen Cordell | Director | 1 | $0 | $0 | $0 | $0 |
| David Gleason | Director | 1 | $0 | $0 | $0 | $0 |
| Emily Rodgers | Director | 1 | $0 | $0 | $0 | $0 |
| Joell Bieber | Director | 1 | $0 | $0 | $0 | $0 |
| Michele Loobey-Gertsch | Director |
Beth Smith
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Colleen Cordell
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
David Gleason
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Individuals who previously served as officers or key employees.
| Name | Title | Hrs/Wk | Compensation | Related Orgs | Other | Total |
|---|---|---|---|---|---|---|
| Kimberly Lorensberg | Chief Develo | 30 | $0 | $132.9K | $20.9K | $153.7K |
Kimberly Lorensberg
Chief Develo
$153.7K
Hrs/Wk
30
Compensation
$0
Related Orgs
$132.9K
Other
$20.9K
| $26.1M |
| $16.1M |
| 2019 | $1.2M | $298.8K | $855.4K | $25.4M | $15.8M |
| 2018 | $2.4M | $1.4M | $985.8K | $26M | $15.5M |
| 2017 | $1.2M | $427.1K | $816.8K | $25.3M | $14.1M |
| 2016 | $1.3M | $514.5K | $784.7K | $25.7M | $13.7M |
| 2015 | $1.1M | $319.4K | $847.1K | $26.3M | $13.1M |
| 2014 | $1.6M | $820.7K | $972.5K | $24.8M | $12.9M |
| 2013 | $1.9M | $1.1M | $916.7K | $23.7M | $11.9M |
| 2012 | $994.8K | $228.4K | $941.1K | $23M | $11M |
| 2011 | $846.3K | $132.7K | $812.5K | $23.2M | $10.9M |
| 2022 | 990 | DataIRS e-File |
| 2021 | 990 | Data | PDF not yet published by IRS |
| 2020 | 990 | Data |
| 2019 | 990 | Data |
| 2018 | 990 | Data |
| 2017 | 990 | Data |
| 2016 | 990 | Data |
| 2015 | 990 | Data |
| 2014 | 990 | Data |
| 2013 | 990 | Data |
| 2012 | 990 | Data |
| 2011 | 990 | Data |
| 2010 | 990 | — |
| 2009 | 990 | — |
| 2008 | 990 | — |
| 2007 | 990 | — |
| 2006 | 990 | — |
| 2005 | 990 | — |
| 2004 | 990 | — |
| 2003 | 990 | — |
| 2002 | 990 | — |
| 2001 | 990 | — |
| 1 |
| $0 |
| $0 |
| $0 |
| $0 |
| Pat Tollefson | Director | 1 | $0 | $0 | $0 | $0 |
| Rita Anderson | Director | 1 | $0 | $0 | $0 | $0 |
| Rod Kusser | Director | 1 | $0 | $0 | $0 | $0 |
| Terry Schultz | Director | 1 | $0 | $0 | $0 | $0 |
| Trevor Cramer | Director | 1 | $0 | $0 | $0 | $0 |
Emily Rodgers
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Joell Bieber
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Michele Loobey-Gertsch
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Pat Tollefson
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Rita Anderson
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Rod Kusser
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Terry Schultz
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Trevor Cramer
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0