Making Sense of Finances in Small-Town South Dakota

For 30 years, Dakota Resources, a nonprofit connecting capital and capacity to empower rural communities, has been working to help rural communities thrive. Recently, they were awarded a $20,000 South Dakota Fund grant from South Dakota Community Foundation to pilot a new financial education and coaching program for economic development organizations. 

“This grant from the South Dakota Community Foundation makes it possible for Dakota Resources to bring deeper, hands-on professional financial coaching to the small-town economic development nonprofits that need it most,” said Joe Bartmann, President of Dakota Resources. “This support will help those local organizations build their financial leadership capacity and create more opportunities for their communities.”

The program will primarily target three to six small organizations that operate with volunteer leadership and outdated financial systems. Programming will focus on strengthening financial systems through on-demand coaching, helping EDOs organize finances, understand basic reports and set up stable financial systems. In addition, a cohort will be formed from the participants, allowing them to learn through the sharing of wins and challenges of peers. 

"Small-town economic development organizations are often run by dedicated volunteers who are stretched thin," said Ginger Niemann, SDCF Senior Program Officer. "This grant helps ensure those organizations have the financial tools and confidence they need to keep serving their communities well into the future."