2015-02-03T05:30:35-08:00 2014-09-30 Kinner & Company Ltd 404 3rd Ave PO Box 690 Brookings SD 57006 990 2013-10-01 204158141 Dakota Business Finance DAKO 6053675390 500 N Western Avenue 100 Sioux Falls SD 57104 Meredith Larson Vice President 2015-02-03 true Nathan Kinner P01250414 6056922515 2013 2016-02-25 16:41:14Z 409026 false false X N/A X 2005 SD Dakota Business Finance provides financing for a wide range of businesses through the SBA 504 Loan Program. This program provides fixed rate financing for the purchase of long-term assets such as the purchase of land, purchase and construction of buildings, renovate or remodel existing facilities, and/or purchase of long-term machinery and equipment. 9 9 0 0 0 364101 403760 1788 2861 519 2405 366408 409026 0 0 0 0 0 308619 314964 308619 314964 57789 94062 156663 235223 35596 20094 121067 215129 Dakota Business Finance provides financing for a wide range of businesses through the SBA 504 Loan Program. This program provides fixed rate financing for the purchase of long-term assets such as the purchase of land, purchase and construction of buildings, renovate or remodel existing facilities, and/or purchase of long-term machinery and equipment. false false 314964 Dakota Business Finance provides financing for a wide range of businesses through the SBA 504 Loan Program. This program provides fixed rate financing for the purchase of long-term assets such as the purchase of land, purchase and construction of buildings, renovate or remodel existing facilities, and/or purchase of long-term machinery and equipment. 314964 true false false false false false false false false false false false false false false true true false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false true 2 0 false 0 false false false false false false false false false 0 false false false false false false false false false false X 9 9 false false false false false false false true true false false true true true true true true true true false X Lynne Keller Forbes 6053675390 500 N Western Avenue Suite 100 Sioux Falls SD 57104 X Brad Gullickson Director 0.50 0.00 X 0 0 0 Cindy Heiberger Director 0.50 0.00 X 0 0 0 James Gordon Director 0.50 0.00 X 0 0 0 Jenni White Director 0.50 0.00 X 0 0 0 Reggie Kuipers Director 0.50 0.00 X 0 0 0 Tim Berger Director 0.50 0.00 X 0 0 0 Meredith Larson Vice President 1.00 0.00 X 0 0 0 Nick Fosheim Sec/Treasurer 1.00 0.00 X 0 0 0 Jaimey Schempp President 1.00 0.00 X 0 0 0 0 false false false 0 0 Loan Closing Fees 209451 209451 Servicing Fees 194309 194309 403760 2861 2861 0 0 0 0 0 0 0 Late Fees 100 100 Miscellaneous Revenue 2305 2305 2405 409026 409026 0 0 0 0 0 0 0 0 0 0 0 36974 36974 0 0 0 0 0 0 0 0 0 0 7990 7990 0 0 0 0 0 1899 1899 Administrative Expense 250585 250585 Marketing 8185 8185 Dues, Subscript & Membership 3225 3225 Computer Software 2445 2445 3661 3661 314964 314964 0 0 154082 231844 0 0 385 1003 0 0 0 0 2196 2376 0 0 0 0 0 0 156663 235223 35596 20094 35596 20094 X 121067 215129 121067 215129 156663 235223 94062 X false true X false false X 181835 205632 213860 364101 403760 1369188 0 0 181835 205632 213860 364101 403760 1369188 0 1369188 325 1289 1823 1788 2861 8086 0 549 1019 717 519 2405 5209 1382483 0.99040 0.99090 X X 409026 409026 409026 314964 314964 314964 Part X : FIN48 Footnote The Organization has adopted FASB Accounting Standards Codification Topic 740, Accounting for Uncertainty in Income Taxes and Disclosure Amendments for Nonpublic Entities, (ASC 740). This standard clarifies the recognition threshold and measurement requirements for income tax positions taken or expected to be taken in income tax returns. This includes positions that the entity is exempt from income taxes or not subject to income taxes on unrelated business income. Under the standard, the Organization recognizes tax benefits from uncertain tax positions only if it is more likely than not that the tax positions will be sustained on examination by taxing authorities. The Organization has identified no significant income tax uncertainties. The Organization is open to examination for tax years 2010 through 2013. Form 990, Part VI, Line 11b: Form 990 Review Process The financial statements and tax returns are submitted to the Board of Directors for review and approval, which may or may not occur prior to the filing of the completed tax returns. Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts The organization monitors and enforces any conflicts that may arise regarding loans being considered for approval. Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management The Executive Director is an employee of the South Eastern Council of Governments (SECOG), and her compensation is reviewed annually by the SECOG Board of Directors. Form 990, Part VI, Line 19: Other Organization Documents Publicly Available The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.