Nonprofit · EIN 92-2247773
SOVEREIGN EQUITY FUND
Tax-exempt · BISMARCK, ND 58501
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $1,623,093 | $2,180,936 | -$557,843 | $5,076,081 | $3,771,810 | $1,304,271 |
| December 31, 2023 | 990 | $3,368,170 | $1,506,056 | $1,862,114 | $6,130,540 | $4,268,426 | $1,862,114 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $1,623,093
- Program service revenue
- $0
- Investment income
- $0
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $1,941,517
- Compensation of officers, directors and key employees
- $106,000
- Other salaries and wages
- $28,442
- Salaries, compensation and benefits (total)
- $159,310
- Professional fundraising fees
- $0
- Legal fees
- $117
- Accounting fees
- $34,000
- Travel
- $6,736
- Program services (functional)
- $2,017,634
- Management and general (functional)
- $163,302
Balance sheet and other
- Total assets, start of year
- $6,130,540
- Total assets, end of year
- $5,076,081
- Total liabilities, end of year
- $3,771,810
- Net assets, end of year
- $1,304,271
- Net assets without donor restrictions
- $944,271
- Net assets with donor restrictions
- $360,000
- Gross receipts
- $1,623,093
- Employees
- 2
- Volunteers
- 0
- Year formed
- 2024
- State of legal domicile
- ND
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Courtney Chavis | Executive Director Officer | 40 | $100,000 |
| JoAnn Kauffman | Secretary Trustee or director, Officer | 2 | $2,000 |
| Justin Wilson | President Trustee or director, Officer | 2 | $2,000 |
| Richard Luarkie | Treasurer Trustee or director, Officer | 2 | $2,000 |
| Christy Walker | Controller Officer | 10 | $0 |
990 for the year ended December 31, 2023: 4 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| JoAnn Kauffman | Secretary Trustee or director, Officer | 2 | $0 |
| Justin Wilson | President Trustee or director, Officer | 2 | $0 |
| Richard Luarkie | Treasurer Trustee or director, Officer | 2 | $0 |
| Christy Walker | Controller Officer | 10 | $0 |
Address and contacts
- Address (IRS master file)
- 120 W THAYER AVE, BISMARCK, ND 58501-3967
- Principal officer (990 for 2024)
- Justin Wilson, 120 West Thayer, Bismark, ND 58501
- Signed the 990
- Justin Wilson, President
- Phone
- (701) 390-8088
- Return prepared by
- Forvis Mazars LLP
Mission
To advance Native food security to strengthen Tribal sovereignty through advancements in agricultural infrastructure by utilizing transformative mission investment strategies.
Program accomplishments
- Providing donations, gifts, grants, contributions, loans, guarantees, or subsidies to support American Indians, Alaska Natives, and Native Hawaiians.Expenses $2,017,634 · grants $1,941,517
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 92-2247773
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2023
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Philanthropy, voluntarism and grantmaking foundations (T12)
- Assets (IRS master file)
- $5,076,081
- Income (IRS master file)
- $1,623,093
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $1,623,093 | $2,180,936 | $5,076,081 | IRS |
| 990 | December 2023 | $3,368,170 | $1,506,056 | $6,130,540 | XML |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 92-2247773).
Questions about SOVEREIGN EQUITY FUND
- What is the EIN of SOVEREIGN EQUITY FUND?
- The employer identification number (EIN) of SOVEREIGN EQUITY FUND is 92-2247773.
- Is SOVEREIGN EQUITY FUND tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2023.
- Are donations to SOVEREIGN EQUITY FUND tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does SOVEREIGN EQUITY FUND file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of SOVEREIGN EQUITY FUND due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did SOVEREIGN EQUITY FUND last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of SOVEREIGN EQUITY FUND?
- The 990 for the year ended December 31, 2024 names Justin Wilson.
- Who are the officers and directors of SOVEREIGN EQUITY FUND?
- The 990 for the year ended December 31, 2024 lists 5 people; 4 received compensation from the organization, the highest $100,000 (Courtney Chavis, Executive Director).
- How much revenue does SOVEREIGN EQUITY FUND have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $1,623,093, expenses of $2,180,936 and total assets of $5,076,081 at year end.
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