2024-11-14T14:40:17-06:00 2023-12-31 450310328 BRADY MARTZ & ASSOCIATES PC PO BOX 14296 GRAND FORKS ND 582084296 990 2023-01-01 450437973 RURAL DEVELOPMENT FINANCE CORPORATION RURA 7016636501 3201 NYGREN DRIVE NW PO BOX 727 MANDAN ND 585540727 DAVID SIGLOH PRESIDENT 7016636501 2024-11-13 1 1 ASHLEY ENGEL P01220321 7017754685 2024-11-12 2023 2024-10-15 13:58:12Z DAVID SIGLOH 3201 NYGREN DRIVE NW PO BOX 727 MANDAN ND 585540727 1061467 0 X N/A X 1994 ND TO PROVIDE FINANCING FOR NEW OR EXPANDING BUSINESSES AND COMMUNITY DEVELOPMENT PROJECTS IN ND. 8 8 0 8 0 0 0 15724 480575 906449 45652 139294 0 0 526227 1061467 56500 85000 0 0 0 0 0 0 0 100201 136090 156701 221090 369526 840377 8375287 8939906 0 3233 8375287 8936673 X RDFC ENCOURAGES ECONOMIC DIVERSIFICATION AND COMMUNITY VITALITY THROUGH THE GENERATION OF FUNDING THAT SUPPORTS SUSTAINABLE ASSET BUILDING. 0 0 104490 906449 TO ENCOURAGE ECONOMIC DIVERSIFICATION AND REVITALIZATION OF RURAL COMMUNITIES IN NORTH DAKOTA AND ADJACENT STATES, CREATE EMPLOYMENT AND INCREASE INCOME FOR DISPLACED FARMERS AND LOW-INCOME PERSONS, AND TO ENHANCE ESSENTIAL COMMUNITY SERVICES AND FACILITIES.TO ACT AS AN INTERMEDIARY LENDER AND TO DEVELOP A SUSTAINABLE REVOLVING LOAN POOL FOR RURAL DEVELOPMENT LENDING PURSUANT TO FEDERAL REGULATIONS AND STATUTES AND TO PROVIDE TECHNICAL ASSISTANCE FOR RURAL ECONOMIC DEVELOPMENT PROJECTS.TO DO ALL THINGS NECESSARY, SUITABLE, AND PROPER FOR THE ACCOMPLISHMENT OF ANY OF THE PURPOSES OR THE ATTAINMENT OF THE OBJECTIVES HEREINABOVE STATED, EITHER ALONE OR WITH OTHER CORPORATIONS, COOPERATIVES, ASSOCIATIONS, FIRMS OR INDIVIDUALS, AND TO EVERY OTHER ACT OR THING INCIDENTAL TO OR GROWING OUT OF SUCH PURPOSE. 85000 85000 THE RDFC GRANT PROGRAM HELPED RURAL COMMUNITIES IN NORTH DAKOTA ACHIEVE ECONOMIC DIVERSIFICATION AND REVITALIZATION. 189490 0 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 2 0 1 0 0 0 0 0 0 0 0 0 X 8 8 0 1 0 0 1 1 1 1 0 0 0 0 1 1 1 1 1 0 0 1 0 X BRENNA OHMAN 7016636501 3201 NYGREN DR PO BOX 727 MANDAN ND 58554 X DAVID SIGLOH PRESIDENT 4.00 X X 0 0 0 PAULA ANDERSON VICE PRESIDENT 1.00 X X 0 0 0 DEON VILHAUER SECRETARY/TREASURER 2.00 X X 0 0 0 MICHELLE BERRY DIRECTOR 1.00 X 0 0 0 JENNIFER WADE DIRECTOR 0.50 X 0 0 0 CHERYL OSOWSKI DIRECTOR 2.00 X 0 0 0 ANDY WEISS DIRECTOR 1.00 X 0 0 0 ALLAN ENGH DIRECTOR 3.00 X 0 0 0 0 0 0 0 0 0 0 0 15724 15724 DAKOTAS AMERICA K-1 IN 525990 820895 820895 LOAN INTEREST INCOME 522291 74569 74569 ORIGINATION FEES 522291 10985 10985 906449 139294 139294 1061467 906449 0 139294 85000 85000 102459 79959 22500 4890 4890 3400 950 2450 1000 1000 6908 2220 4688 1962 1962 463 463 3488 3488 LOAN LOSS PROVISION 11520 11520 221090 189490 31600 0 16100 3318877 3709014 0 2500 4638541 4722723 5090 4974 579 116 403499 470705 13791 18748 8375287 8939906 0 3233 0 3233 X 0 0 0 0 8375287 8936673 8375287 8936673 8375287 8939906 840377 -278991 0 X X 0 1 X 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 5090 4974 116 116 DAKOTAS AMERICA 470469 C FEDERATED RURAL ELECTIC CAPITAL CREDITS 236 C 470705 X 1061467 0 1061467 0 1061467 221090 0 221090 0 221090 PART X, LINE 2: THE ORGANIZATION IS EXEMPT FROM FEDERAL INCOME UNDER SECTION 501(C)(4) OF THE INTERNAL REVENUE CODE. IT IS ANNUALLY REQUIRED TO FILE IRS FORM 990, RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX. THE ORGANIZATION'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 HAS NO SIGNIFICANT UNCERTAIN TAX POSITIONS THAT WOULD BE SUBJECT TO CHANGE UPON EXAMINATION. THE FEDERAL INFORMATION RETURNS OF THE ORGANIZATION ARE SUBJECT TO EXAMINATION BY THE IRS, GENERALLY FOR THREE YEARS AFTER THEY ARE FILED. ALL REQUIRED FILINGS ARE CURRENT. FORM 990, PART VI, SECTION A, LINE 3 NORTH DAKOTA ASSOCIATION OF RURAL ELECTRIC COOPERATIVES (NDAREC) PROVIDES STAFF THAT HEAD UP DIRECTIVES OF THE BOARD IN THE AREAS OF FINANCE, PROGRAM DEVELOPMENT AND LOAN MANAGEMENT. FORM 990, PART VI, SECTION A, LINE 6 MEMBERSHIP IN THE CORPORATION IS LIMITED TO RURAL ELECTRIC COOPERATIVES AND RURAL BROADBAND COOPERATIVES OPERATING IN THE STATE OF NORTH DAKOTA, THE NORTH DAKOTA ASSOCIATION OF RURAL ELECTRIC COOPERATIVES, AND THE BROADBAND ASSOCIATION OF NORTH DAKOTA. FORM 990, PART VI, SECTION A, LINE 7A PRIOR TO EACH ANNUAL MEETING, THE BOARD OF DIRECTORS OR PRESIDENT MAY ESTABLISH A NOMINATING COMMITTEE WHICH SHALL BE RESPONSIBLE FOR OBTAINING NAMES OF QUALIFIED CANDIDATES WHO ARE WILLING TO SERVE AS A DISTRICT DIRECTOR. FORM 990, PART VI, SECTION A, LINE 7B THE MEMBERSHIP MUST APPROVE CHANGES TO THE ORGANIZATION'S BYLAWS. FORM 990, PART VI, SECTION A, LINE 8B THERE ARE NO COMMITTEES WITH THE AUTHORIZATION TO ACT ON BEHALF OF THE BOARD. FORM 990, PART VI, SECTION B, LINE 11B A DRAFT OF THE FORM 990 WILL BE REVIEWED BY THE FINANCE DIRECTOR OF NDAREC PRIOR TO FILING THE FORM WITH THE IRS. THE FINAL FORM 990 WILL BE PROVIDED TO ALL BOARD MEMBERS. FORM 990, PART VI, SECTION B, LINE 12C ALL DIRECTORS OF RDFC ARE COVERED BY THE POLICY. THEY MUST DISCLOSE ANNUALLY, IN WRITING, BY METHOD OF FORMAL QUESTIONNAIRE, WHETHER THEY HAVE ANY CONFLICTS OF INTEREST. IF THERE ARE ANY DISCLOSURES OF CONFLICT OF INTEREST, THE PRESIDENT OF THE BOARD WILL IMPLEMENT REQUIRED ACTION AS DEFINED BY POLICY. FORM 990, PART VI, SECTION C, LINE 19 THESE DOCUMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC. FORM 990, PART XII, LINE 2C THE ORGANIZATION'S FINANCIAL STATEMENTS WERE AUDITED FOR THE FIRST TIME IN 2023. THE BOARD OF DIRECTORS OVERSAW SELECTION OF THE INDEPENDENT AUDITOR. DAKOTAS AMERICA LLC 25795 475TH AVE SUITE 1 RENNER SD 570556547 202744964 DEBT AND EQUITY CAPITAL SUPPORT SD RELATED 0 821149 644446 1 0 0.49000