Womens Economic Ventures
- Assets
- $6.8m
- Revenue
- $4.2m
- Investments
- $0.0
- Employees
- 58
- Location
- Santa Barbara, CA
- Founding
- 01/1982
- Data as of
- 12/2023
- EIN
- 95-3674624
Organization Overview
Womens Economic Ventures is located in Santa Barbara, CA. The organization was established in 1982. According to its NTEE Classification (W70) the organization is classified as: Leadership Development, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2023, Womens Economic Ventures employed 58 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Womens Economic Ventures 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 Economic Ventures generated $4.2m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 9.8% each year. All expenses for the organization totaled $4.5m during the year ending 12/2023. While expenses have increased by 12.0% per year over the past 9 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 2018, Womens Economic Ventures has awarded 34 individual grants totaling $532,000. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
WOMEN'S ECONOMIC VENTURES IS DEDICATED TO THE ECONOMIC EMPOWERMENT OF WOMEN CULTIVATING THE POWER WITHIN EACH WOMAN TO REALIZE HER DREAMS, ACHIEVE FINANCIAL INDEPENDENCE AND SUCCEED ON HER OWN TERMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WOMEN'S ECONOMIC VENTURES (WEV) PROVIDES SMALL BUSINESS LOANS, BUSINESS TRAINING, AND TECHNICAL ASSISTANCE TO HELP PRIMARILY LOW INCOME WOMEN START OR EXPAND A SMALL BUSINESS. WEV IS A COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI) AND PROVIDES MICRO ENTERPRISE LOANS OF UP TO $25,000 TO STARTUPS AND BUSINESS EXPANSION LOANS OF UP TO $50,000 TO PREBANKABLE BUSINESSES. WEV SERVES BOTH MEN AND WOMEN IN ALL PROGRAMS. IN 2023 WEV PROVIDED TRAINING AND TECHNICAL ASSISTANCE, INCLUDING 1,648 SESSIONS OF INDIVIDUAL CONSULTING TO 309 CLIENTS AND PROVIDED 21 BUSINESS LOANS TOTALING $407,500.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kathy Odell Ceo/president | Officer | 40 | $174,238 |
Nicola Parr COO | 40 | $134,849 | |
Marni Brook Director Of Lending | 40 | $105,581 | |
Devon Johnson Director Of Grants And Impact | 40 | $105,346 | |
Barbara Macnaughton Director Of Development | 40 | $105,720 | |
Deborah Rivas Controller | Officer | 40 | $92,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,565,800 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,206,858 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,772,658 |
| Total Program Service Revenue | $284,588 |
| Investment income | $141,872 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$721 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,198,397 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $67,500 |
| Grants and other assistance to domestic individuals. | $758,750 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $271,463 |
| Compensation of current officers, directors, key employees. | $40,719 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,100,781 |
| Pension plan accruals and contributions | $46,766 |
| Other employee benefits | $110,728 |
| Payroll taxes | $185,108 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $6,200 |
| Fees for services: Accounting | $60,540 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $26,989 |
| Fees for services: Other | $5,665 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $203,604 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $28,507 |
| Interest | $101,473 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $30,479 |
| Insurance | $65,402 |
| All other expenses | $0 |
| Total functional expenses | $4,460,473 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $854,352 |
| Savings and temporary cash investments | $386,856 |
| Pledges and grants receivable | $426,249 |
| Accounts receivable, net | $18,073 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,460,562 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $42,659 |
| Net Land, buildings, and equipment | $65,708 |
| Investments—publicly traded securities | $3,022,863 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $477,242 |
| Total assets | $6,754,564 |
| Accounts payable and accrued expenses | $422,335 |
| Grants payable | $0 |
| Deferred revenue | $120,547 |
| 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 | $151,380 |
| Unsecured mortgages and notes payable | $950,000 |
| Other liabilities | $2,016,902 |
| Total liabilities | $3,661,164 |
| Net assets without donor restrictions | $1,850,542 |
| Net assets with donor restrictions | $1,242,858 |
| 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 | $6,754,564 |
Grants Awarded
Over the last fiscal year, Womens Economic Ventures has awarded $268,500 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
MIXTECOINDIGENA COMMUNITY ORGANIZING PROJECT PURPOSE: OUTREACH, TRANSLATION, AND OTHER SERVICES TO SUPPORT WEV'S SEED PROJECT. | $13,500 |
CHILDREN'S RESOURCE AND REFERRAL OF SB CO PURPOSE: TO SUPPORT WEV'S SEED2 PROJECT | $255,000 |