Womens Business Enterprise Center East
- Assets
- $2.4m
- Revenue
- $990.3k
- Investments
- $0.0
- Employees
- 18
- Location
- Philadelphia, PA
- Founding
- 01/1995
- Data as of
- 12/2023
- EIN
- 23-2810092
Organization Overview
Womens Business Enterprise Center East is located in Philadelphia, PA. The organization was established in 1995. According to its NTEE Classification (Z99) the organization is classified as: Unknown, under the broad grouping of Unknown and related organizations. As of 12/2023, Womens Business Enterprise Center East employed 18 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Womens Business Enterprise Center East is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Womens Business Enterprise Center East generated $990.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (3.2%) each year. All expenses for the organization totaled $874.7k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (4.8%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO FOSTER THE DEVELOPMENT AND RETENTION OF SUCCESSFUL WOMEN-OWNED BUSINESSES. ALSO, TO FACILITATE THE RELATIONSHIP BETWEEN CORPORATIONS, GOVERNMENTS AND WOMEN-OWNED BUSINESSES TO PROVIDE GROWTH AND SUSTAINABILITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WBEC-EAST PROVIDES START UP, EMERGING AND ESTABLISHED ENTREPRENEUR'S VIRTUAL EDUCATION AND TRAINING WORKSHOPS TO BECOME SUCCESSFUL. THESE EDUCATION AND TRAINING WORKSHOPS INCLUDE: MARKET RESEARCH, FINANCIAL ANALYSIS, BUSINESS PLANNING, BUSINESS COACHING ETC.
WBEC-EAST SOLICITS FUNDS THAT ARE DEDICATED TO INTERNAL SCHOLARSHIP AND GRANTS. SCHOLARSHIPS AND GRANTS ARE ISSUED TO OFFSET FEES TO ATTEND VARIOUS ENTREPRENEURIAL TRAINING PROGRAMS FOR WOMEN STARTING OR GROWING THEIR BUSINESS. RECIPIENTS OF THESE FUNDS ARE ADVISED OF THE BENEFACTOR.
WBEC-EAST THROUGH ITS PARTNERSHIP WITH WOMEN'S BUSINESS ENTERPRISE NATIONAL COUNCIL ("WBENC") PROVIDES CERTIFICATIONS TO WOMEN-OWNED BUSINESSES. THESE CERTIFICATIONS ARE USED AS A MARKETING TOOL FOR EXPANDING A COMPANY'S VISIBILITY AND ACCESS TO DECISION MAKERS IN SUPPLIER DIVERSITY AND PROCUREMENT OFFICES.
WBEC-EAST PROVIDES AN OPPORTUNITY FOR CORPORATIONS AND GOVERNMENTAL ENTITIES TO SHOW THEIR SUPPORT FOR WOMEN-OWNED BUSINESSES BY WAY OF A SUPPLIER DIVERSITY COUNCIL. THIS ALLOWS OUR CORPORATE AND GOVERNMENT PARTNERS TO PARTAKE IN SUPPLIER DIVERSITY NETWORKING AND TRAINING EVENTS, GAIN CONFIDENCE IN AWARDING CONTRACTS TO CERTIFIED WOMEN-OWNED BUSINESSES, AND DEVELOP AND EXPAND THEIR OUTREACH PROGRAMS TO MEET THEIR SUPPLIER DIVERSITY GOALS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
George Ehrgott Director | Trustee | 2 | $0 |
Nancy Gunza CPA Treasurer | OfficerTrustee | 2 | $0 |
Cecilia Isaacs-Blundin Chair | OfficerTrustee | 2 | $0 |
Cynthia Funaro Towers ESQ Vice Chair | OfficerTrustee | 2 | $0 |
Vernice Lewis Director | Trustee | 2 | $0 |
Liv Carter Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $98,767 |
| Related organizations | $0 |
| Government grants | $100,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $255,948 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $454,715 |
| Total Program Service Revenue | $571,931 |
| Investment income | $1,000 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$37,328 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $990,318 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $13,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $97,094 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $321,188 |
| Pension plan accruals and contributions | $53,618 |
| Other employee benefits | $0 |
| Payroll taxes | $29,469 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $122,609 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $53,881 |
| Advertising and promotion | $5,207 |
| Office expenses | $15,007 |
| Information technology | $20,618 |
| Royalties | $0 |
| Occupancy | $58,106 |
| Travel | $10,875 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $628 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $9,404 |
| Insurance | $4,500 |
| All other expenses | $12,664 |
| Total functional expenses | $874,685 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $236,099 |
| Savings and temporary cash investments | $1,014,239 |
| Pledges and grants receivable | $301,216 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $48,037 |
| Net Land, buildings, and equipment | $58,243 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $726,348 |
| Total assets | $2,384,182 |
| Accounts payable and accrued expenses | $101,031 |
| Grants payable | $0 |
| Deferred revenue | $321,455 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $728,439 |
| Total liabilities | $1,150,925 |
| Net assets without donor restrictions | $1,211,052 |
| Net assets with donor restrictions | $22,205 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $2,384,182 |