Womens Economic Self-Sufficiency Team Corp
- Assets
- $11.2m
- Revenue
- $3.3m
- Investments
- $0.0
- Employees
- 36
- Location
- Albuquerque, NM
- Founding
- 12/1988
- Data as of
- 12/2021
- EIN
- 85-0367809
Organization Overview
Womens Economic Self-Sufficiency Team Corp, operating under the name Wesst, is located in Albuquerque, NM. The organization was established in 1988. According to its NTEE Classification (P80) the organization is classified as: Centers to Support the Independence of Specific Populations, under the broad grouping of Human Services and related organizations. As of 12/2021, Wesst employed 36 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wesst 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 12/2021, Wesst generated $3.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.3% each year. All expenses for the organization totaled $3.0m during the year ending 12/2021. While expenses have increased by 0.5% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
WESST'S MISSION IS TO BE A HOME TO ENTREPRENEURS. WE PROVIDE A SUPPORT SYSTEM OF CONSULTING, TRAINING, INCUBATION AND LENDING TO HELP CLIENTS SUCCESSFULLY STRENGTHEN AND GROW THEIR BUSINESSES (CONTINUED ON SCHEDULE O)
Describe the Organization's Program Activity:
Part 3 - Line 4a
FOUNDED IN 1988, WESST IS COMMITTED TO DIVERSITY, EQUITY AND INCLUSION IN OUR ECONOMY. TO THIS END, WESST TARGETS ITS SERVICES TO WOMEN, PEOPLE OF COLOR, LOW-WEALTH INDIVIDUALS AND OTHER MARGINALIZED POPULATIONS WHO FACE SIGNIFICANT CHALLENGES IN STARTING AND GROWING A SUCCESSFUL BUSINESS. WESST OFFERS COMPREHENSIVE BILINGUAL BUSINESS SERVICES FROM THE PRE-STARTUP STAGE THROUGH GROWTH AND REPOSITIONING. OVER THE PAST 3 DECADES, WESST HAS FACILITATED THE START-UP OF 2,605 NEW BUSINESSES, THE CREATION OF 5,319 JOBS AND 10.0 MILLION LOANED TO A CLIENT BASE WHICH IS 65% FEMALE, 65% MINORITY AND 60% PERSONS OF LOW WEALTH. HEADQUARTERED IN ALBUQUERQUE, WESST SERVES THE ENTIRE STATE OF NEW MEXICO THROUGH ITS REGIONAL OFFICE NETWORK IN FARMINGTON, HOBBS, LAS CRUCES, (CONTINUED ON SCHEDULE O)
FINANCIAL ASSISTANCE: AT DECEMBER 31, 2021, WESST HAD 60 LOANS OUTSTANDING TOTALING APPROXIMATELY 578,417. THESE LOANS ARE FOR SMALL BUSINESSES WHICH ARE UNABLE TO OBTAIN FINANCING FROM BANKS OR OTHER TRADITIONAL SERVICES, AND ASSISTANCE IN ACCESSING OTHER FINANCIAL RESOURCES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Agnes Noonan President | OfficerTrustee | 40 | $103,014 |
Agnes Maldonado Ex Dir. Of F | Officer | 40 | $47,133 |
Cheri Lopez Director Of | Officer | 40 | $43,073 |
Molly Bell Past Chair | OfficerTrustee | 2 | $0 |
Monica Jojola Chair | OfficerTrustee | 2 | $0 |
Mike Lowrimore Treasurer | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,150,995 |
| All other contributions, gifts, grants, and similar amounts not included above | $749,078 |
| Noncash contributions included in lines 1a–1f | $3,054 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,900,073 |
| Total Program Service Revenue | $292,828 |
| Investment income | $78 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $141,861 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,334,840 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $111,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $221,072 |
| Compensation of current officers, directors, key employees. | $22,107 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,391,217 |
| Pension plan accruals and contributions | $24,365 |
| Other employee benefits | $89,879 |
| Payroll taxes | $115,852 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $42,039 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $378,380 |
| Advertising and promotion | $9,004 |
| Office expenses | $168,130 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $97,554 |
| Travel | $13,283 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,953 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $216,799 |
| Insurance | $31,482 |
| All other expenses | $0 |
| Total functional expenses | $2,996,715 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $563,185 |
| Savings and temporary cash investments | $3,052,115 |
| Pledges and grants receivable | $293,069 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $578,417 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $33,129 |
| Net Land, buildings, and equipment | $6,603,794 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $27,547 |
| Total assets | $11,151,256 |
| Accounts payable and accrued expenses | $115,858 |
| Grants payable | $0 |
| Deferred revenue | $89,118 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $14,643 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $760,187 |
| Unsecured mortgages and notes payable | $440,377 |
| Other liabilities | $29,120 |
| Total liabilities | $1,449,303 |
| Net assets without donor restrictions | $8,897,462 |
| Net assets with donor restrictions | $804,491 |
| 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 | $11,151,256 |
Grants Awarded
Over the last fiscal year, Womens Economic Self-Sufficiency Team Corp has awarded $34,519 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Albuquerque, NM | | $17,260 |
Albuquerque, NM | | $17,259 |
Grants Recieved
Over the last fiscal year, we have identified 10 grants that Womens Economic Self-Sufficiency Team Corp has recieved totaling $83,852.
| Awarding Organization | Amount |
|---|---|
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $20,000 |
Albuquerque Community Foundation Albuquerque, NM PURPOSE: ACF HUMAN SERVICES | $16,500 |
Association Of Womens Business Centers Washington, DC PURPOSE: GENERAL SUPPORT | $16,200 |
J F Maddox Foundation Hobbs, NM PURPOSE: GENERAL OPERATING SUPPORT | $10,500 |
Nusenda Foundation Albuquerque, NM PURPOSE: GRANTS, PROGRAM SUPPORT, COMMUNITY SERVICES & SUPPORT, LA ESCALERA | $5,000 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $5,000 |
Endowment Analysis
| Beg. Balance | $10,000 |
| Ending Balance | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Buckner International Dallas, TX | $12,129,357 | $21,781,250 |
United Cerebral Palsy Of Southern Arizona Inc Tucson, AZ | $12,231,296 | $20,624,462 |
Military Warriors Support Foundation San Antonio, TX | $26,095,499 | $9,501,589 |
Caritas Of Austin Austin, TX | $7,645,786 | $15,511,664 |
Smith Agency Aurora, CO | $25,654,604 | $17,358,773 |
Colorado Springs Independence Center Colorado Springs, CO | $15,911,959 | $13,576,800 |
Mission Of Mercy Inc Corpus Christi, TX | $7,577,811 | $11,960,672 |
Greeley Independence Stampede Inc Greeley, CO | $7,936,067 | $10,109,636 |
Independent Living Resource Center Albuquerque, NM | $3,325,195 | $9,733,666 |
Advo Companies Inc Amarillo, TX | $2,717,648 | $8,744,385 |
Cheyenne Village Colorado Springs, CO | $12,734,645 | $9,417,090 |
Nonviolence Works Inc Taos, NM | $1,929,520 | $7,008,447 |