Womens Business Development Center
- Assets
- $7.0m
- Revenue
- $10.6m
- Investments
- $0.0
- Employees
- 51
- Location
- Chicago, IL
- Founding
- 04/1987
- Data as of
- 06/2022
- EIN
- 36-3488628
Organization Overview
Womens Business Development Center is located in Chicago, IL. The organization was established in 1987. According to its NTEE Classification (S43) the organization is classified as: Small Business Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2022, Womens Business Development Center employed 51 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Womens Business Development Center 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 06/2022, Womens Business Development Center generated $10.6m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 14.2% each year . All expenses for the organization totaled $9.2m during the year ending 06/2022. While expenses have increased by 12.0% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2021, Womens Business Development Center has awarded 2,303 individual grants totaling $28,791,845. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT AND ACCELERATE BUSINESS DEVELOPMENT AND GROWTH, TARGETING WOMEN AND SERVING OTHER UNDERSERVED COMMUNITIES AND VETERANS, IN ORDER TO STRENGTHEN THEIR PARTICIPATION IN, AND IMPACT ON, THE ECONOMY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ACCESS TO CAPITAL PROGRAM FOCUSES ON HELPING BUSINESS OWNERS DEVELOP A BETTER UNDERSTANDING OF THEIR BUSINESS FINANCES BY PROVIDING FINANCIAL ASSESSMENT AND COUNSELING, LOAN APPLICATION ASSISTANCE, AND DIRECT LENDING. THE WBDC WAS THE SUBRECIPIENT OF FEDERAL GRANTS. THE FUNDS WERE USED TO ADMINISTER SIX GOVERNMENT COVID-19 RELIEF PROGRAMS DURING FISCAL YEAR. APPROXIMATELY $900,000 WAS DISTRIBUTED TO GRANTEES AND PARTNERS. 1,112 PERSONS SERVED DURING FISCAL YEAR.
THE ESTABLISHED BUSINESS PROGRAM SERVES ESTABLISHED BUSINESSES WHO WOULD LIKE TO GROW THEIR BUSINESS AND BUILD CAPACITY. SERVICES INCLUDE WORKSHOPS, CERTIFICATION SERVICES, ASSISTANCE WITH CORPORATE AND GOVERNMENT CONTRACTING, AND BUSINESS ADVISING. 1,798 PERSONS SERVED DURING FISCAL YEAR.
THE EMERGING BUSINESS PROGRAM SERVES INDIVIDUALS WHO WANT TO START A BUSINESS OR ARE IN THE EARLY STAGES OF GROWING THEIR BUSINESS BY PROVIDING BUSINESS DEVELOPMENT COUNSELING AND WORKSHOPS. 2,395 PERSONS SERVED DURING FISCAL YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Emilia Dimenco President & Chief Executive | OfficerTrustee | 40 | $171,339 |
Roxanne Ward Chief Of Staff | 40 | $110,268 | |
Georgia Marsh Chief Development Officer | 40 | $105,615 | |
Hedy M Ratner Co-Founder & Co-President | Trustee | 10 | $47,206 |
Mary Houpt Director | Trustee | 3 | $12,000 |
Sandra Rand Chair | OfficerTrustee | 3 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Next Street Financial Llc Cook County Program Coordinator | 6/29/22 | $950,000 |
Hawthorne Strategy Group Marketing/grant Work | 6/29/22 | $204,600 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $6,812,387 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,223,571 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $9,035,958 |
| Total Program Service Revenue | $1,514,052 |
| Investment income | $2,410 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,552,420 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $930,346 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $282,832 |
| Compensation of current officers, directors, key employees. | $11,781 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,943,800 |
| Pension plan accruals and contributions | $72,464 |
| Other employee benefits | $308,347 |
| Payroll taxes | $240,568 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $243,619 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,241,307 |
| Advertising and promotion | $32,306 |
| Office expenses | $183,733 |
| Information technology | $178,491 |
| Royalties | $0 |
| Occupancy | $334,743 |
| Travel | $20,328 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $38,975 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $60,171 |
| Insurance | $32,449 |
| All other expenses | $0 |
| Total functional expenses | $9,181,288 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $5,181,755 |
| Pledges and grants receivable | $1,624,614 |
| Accounts receivable, net | $8,353 |
| 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 | $65,213 |
| Net Land, buildings, and equipment | $45,391 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $115,533 |
| Intangible assets | $0 |
| Other assets | $7,838 |
| Total assets | $7,048,697 |
| Accounts payable and accrued expenses | $692,046 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $132,110 |
| Total liabilities | $824,156 |
| Net assets without donor restrictions | $5,217,227 |
| Net assets with donor restrictions | $1,007,314 |
| 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 | $7,048,697 |
Grants Awarded
Over the last fiscal year, Womens Business Development Center has awarded $907,845 in support to 28 organizations.
| Grant Recipient | Amount |
|---|---|
ALLIES FOR COMMUNITY BUSINESS FKA ACCION CHICAGO INC PURPOSE: BUSINESS SUPPORT ORGANIZATIONS PROVIDING TECHNICAL ASSISTANCE TO ENTREPRENUERS. | $50,000 |
BERWYN DEVELOPMENT CORPORATION PURPOSE: BUSINESS SUPPORT ORGANIZATIONS PROVIDING TECHNICAL ASSISTANCE TO ENTREPRENUERS. | $31,100 |
BRICK FORCE CONSTRUCTIONS INC PURPOSE: SMALL BUSINESS ASSISTANCE GRANTS | $10,000 |
CAFE HANAH INC PURPOSE: SMALL BUSINESS ASSISTANCE GRANTS | $10,000 |
CHICAGO MINORITY SUPPLIER DEVELOPMENT COUNCIL INC PURPOSE: BUSINESS SUPPORT ORGANIZATIONS PROVIDING TECHNICAL ASSISTANCE TO ENTREPRENUERS. | $6,100 |
CITY COLLEGE OF EDUCATION INC PURPOSE: SMALL BUSINESS ASSISTANCE GRANTS | $10,000 |