2023-09-05T16:56:20-05:00 2022-12-31 450250958 Eide Bailly LLP 1730 Burnt Boat Loop Ste 100 Bismarck ND 585030886 990 2022-01-01 450437973 Rural Development Finance Corporation RURA 7016636501 3201 Nygren Drive NW PO Box 727 Mandan ND 585540727 David Sigloh President 7016636501 2023-09-05 1 David Sigloh 999009999 1 Lisa Chaffee CPA P00193453 7012551091 2023-09-05 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z David Sigloh 3201 Nygren Drive NW PO Box 727 Mandan ND 585540727 526227 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 0 465122 480575 7583 45652 0 0 472705 526227 60995 56500 0 0 0 0 0 0 0 94955 100201 155950 156701 316755 369526 8006076 8375287 315 0 8005761 8375287 X RDFC encourages economic diversification and community vitality through the generation of funding that supports sustainable asset building. 0 0 56500 56500 The RDFC grant program helped rural communities in North Dakota achieve economic diversification and revitalization.In 2022, Cathay Fire Protection District - $1,000; Edinburg Fire Department - $750; Cavalier Fire Department - $750; Carrington Youth Center - $1,000; St. Thomas Park Board - $2,000; Hettinger Park Board - $500; Sidney Volunteer Fire Department - $2,000; Sheyenne River Valley Chapter - $1,000; Richland-Wilkin Food Pantry - $1,000; Grassy Butte Community Park - $2,000; Richland Elementary - $500; Lidgerwood Hankinson Rural Health Clinic - $500; Leeds Park District - $667; De Sour Valley EDC - $500; Towner County Historical Society - $666, Robinson Fire Department - $667; Barnes County Park Board - $1,000; Langdon Park Board - $2,000; Father's Farm - $2,000; Mandan Horse & Saddle Club - $2,000; Ashley Senior Center - $1,000; Ashley American Legion Post #53 - $1,000; Mott Visionary Committee - $500; International Fitness Center - $1,000; Bowbells Volunteer Fire Department - $1,000; New Lepzig Rural Fire Protection District - $2,000; Amidon Fire Protection District - $1,000; Oakes Fire & Rescue District - $500; Sherwood/Antler Community Foundation - $500; Richland County Communications 911 - $500; Kulm Volunteer Fire Department - $500; Ellendale Fire Protection District - $500; Lemmon EMT Association - $1,000; Ashley Ambulance Service - $500; Pembina County Historical Society- $1,000; Little Loboes Bright Beginnings Childcare - $500; Grafton Parks & Recreation- $1,000; Hazen Parks & Recreation - $2,000; Makoti Park Board - $2,000; Mohall Country Club- $500; Rutland Cayuga Fire and Rescue - $500; Marion Park District - $500; St. Luke's Hospital - $500; Divide County Public Library - $500; Lil Ranchers Childcare - $1,000; Society of St. Stephens Food Pantry - $500; Turtle Mountain Mikinaak Ode Shelter - $2,000; Steele Volunteer Fire District - $2,000; Ray Public School - $1,500; Shepherds Hill Retreat, Inc. - $2,000; Velva Volunteer Ambulance Service - $2,000; Stanley Wrestling Club. - $2,000; Bantry Union Cemetery - $500; Total grants - $56,500 9121 480575 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. In 2022, the following loans were made: BOG Holdings - $150,000 for 15 years at 2% (Participation loan with Choice Financial Group to construct a new facility for Bobcat of Gwinner); Valley City Barnes County Development Corporation - $10,093.45 for 10 years at 2% (Flex PACE interest buydown to purchase a building for Lawn Now, LLC); Valley City Barnes County Development Corporation - $16,666.50 for 10 years at 2% (Flex PACE interest buydown to purchase a restaurant and bar for Peltier Properties, LLC); Valley City Barnes County Development Corporation - $16,666.50 for 10 years at 2% (Flex PACE interest buydown to purchase a building for Stearns Enterprises, LLC); Valley City Barnes County Development Corporation - $6,500 for 81 months at 2% (Flex PACE interest buydown to purchase building for Matt and Courtney Jorissen); Oech Foods - $125,000 for 20 years at 2% (Participation loan with Choice Financial Group to purchase building, equipment and inventory for grocery store); Butcher's Edge, LLC - $125,000 for 10 years at 2% (Participation loan with Edgeley Job Development Authority to purchase equipment and provide operating costs for new meat processing facility); Valley City Barnes County Development Corporation - $6,492.27 for 10 years at 2% (Flex PACE interest buydown to update strip mall for Valley West Mall, LLC); Valley City Barnes County Development Corporation - $10,021.98 for 5 years at 2% (Flex PACE interest buydown for expansion of building and purchase inventory for Smith Lumber Company); Valley City Barnes County Development Corporation - $6,513.74 for 7 years at 2% (Flex PACE interest buydown to purchase trucks and business accounts for Beckman Septic, LLC); Joshua Loegering - $42,500 for 15 years at 2% (Participation loan with BankNorth to purchase business and working capital); Giant Snack's - $335,000 for 10 years at 2% (Participation loan with Dakota Valley Electric Cooperative to purchase equipment for expansion of facility); North Dakota Association of Rural Electric Cooperatives - $325,000 for 10 years at 2% (Community Capital loan to purchase furniture for renovated building); Kramer Grocery - $12,500 for 5 years at 2% (Participation loan with Strasburg Economic Development Corporation to purchase equipment, inventory and supplies to open grocery store) 2022 Loan Total $1,187,954.44. 65621 0 0 0 0 0 0 0 0 0 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 0 0 0 0 1 1 1 0 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 1 1 1 1 1 1 0 0 1 0 X Brenna Ohman 7016636501 3201 Nygren Dr PO Box 727 Mandan ND 585540727 X David Sigloh President 2.00 X X 0 0 0 Paula Anderson Vice President 1.00 X X 0 0 0 Deon Vilhauer Secretary/Treasurer 3.00 X X 0 0 0 Cheryl Osowski Director 1.50 X 0 0 0 Andrew Weiss Director 1.00 X 0 0 0 Allan Engh Director 1.00 X 0 0 0 Michelle Berry Director 2.00 X 0 0 0 Jennifer Wade Director 1.00 X 0 0 0 0 0 0 0 0 0 0 0 Dakotas America K-1 In 524298 396834 396834 Loan Interest Income 525990 71987 71987 Loan Origination Fees 525990 11754 11754 480575 45652 45652 526227 480575 0 45652 56500 56500 88580 88580 2500 2500 2000 2000 3063 3063 138 138 844 844 1388 1388 1688 1688 156701 65621 91080 0 3107404 3318877 11429 0 4350339 4638541 5090 4511 1967 579 400899 403499 134038 13791 8006076 8375287 315 0 315 0 X 0 0 0 0 8005761 8375287 8005761 8375287 8006076 8375287 369526 0 X 0 0 0 5090 4511 579 579 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, and the North Dakota Association of Rural Electric Cooperatives. 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 first reviewed by the Finance Director of NDAREC and then will be reviewed by the Board of Directors prior to filing the form with the IRS. 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 B, line 15 RDFC did not compensate any of the above individuals. Form 990, Part VI, Section C, line 19 These documents are not made available to the public. Dakotas America LLC 25795 475th Ave Suite 1 Renner SD 570556547 202744964 Debt and Equity Capital Support SD 396834 538829 0 1 0.49000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 Dakotas America LLC S 394236 K-1 Cash distribution received