Dbl Equity Partners

Nonprofit profile at a glance

EIN
831825710
IRS 990 coverage
2022–2025
Forms available
Form 990 2025
Location
Fargo, ND, USA
Phone
7012938892
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Business and Industry

Reported finances

Revenue
$1,615,044
Expenses
$1,615,064
Assets
$1,065,867
Liabilities
$1,065,925

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

5 people listed

Executive titles in this filing

  • STEVE DUSEK (PRESIDENT, CEO, AND SECRET)

Highest reported compensation

  • STEVE DUSEK (PRESIDENT, CEO, AND SECRET): $307,462 total reported compensation
  • COLE KENEY (BOARD CHAIR): $1,950 total reported compensation
  • JOHN PHILLIPS (BOARD MEMBER): $1,950 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To serve and provide products, services, loans and/or investment capital for qualified low income persons or low income communities and to further the affordable housing, neighborhood and community revitilazation and economic development efforts.

What it reported doing in 2025

New markets tax credits (nmtc) works to encourage and jumpstart investment in low-income census tracts to create jobs and bring new opportunities to qualifying areas in North Dakota. The goal of the nmtc award is to fill a financing gap for transformative projects which bring opportunities to low-income or distressed areas.

Operating model

Revenue model
Earned-program. 91% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and most voting board members are independent. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 85
  • Transparency & Controls: 60
  • Accountability: 100
  • Sustainability: 30
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 95.9%; rating input score 96
  • Program expense ratio: 95.9%; rating input score 96
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -0%; rating input score 30; 30th percentile among comparable filings
  • Total-asset coverage ratio: 0.66; rating input score 31; 31st percentile among comparable filings
  • Liabilities to assets ratio: 1; rating input score 4; 4th percentile among comparable filings
  • Officer compensation ratio: 3.3%; rating input score 53; 53rd percentile among comparable filings

Growth

  • Program expense growth: 0.4% per year; rating input score 100; 16th percentile among comparable filings
  • Revenue growth: 0.4% per year; rating input score 100; 12th percentile among comparable filings
  • Asset growth: 1.5% per year; rating input score 100; 20th percentile among comparable filings

Details

  • Where the money goes: 95.9% of revenue deployed · 95.9% of spending went to programs
  • Governance: 5 of 5 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $1.5M in reported program spending
  • Leadership: top reported pay $307K · 5 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 17 of 17 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 4 filing years from 2022 to 2025
  • Contacts: How to reach this organization
  • Related organizations: 1 filed related-organization link
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Moderate — Sustainability: Operating margin scored 30/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 31/100.
  • High — Sustainability: Liabilities to assets ratio scored 4/100.
  • Review — Sustainability: Officer compensation ratio scored 53/100.