Womens Business Development Council Inc
- Assets
- $3.9m
- Revenue
- $5.3m
- Investments
- $0.0
- Employees
- 33
- Location
- Stamford, CT
- Founding
- 11/1997
- Data as of
- 12/2021
- EIN
- 06-1493737
Organization Overview
Womens Business Development Council Inc is located in Stamford, CT. The organization was established in 1997. According to its NTEE Classification (B90) the organization is classified as: Educational Services, under the broad grouping of Education and related organizations. As of 12/2021, Womens Business Development Council Inc employed 33 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Womens Business Development Council Inc 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, Womens Business Development Council Inc generated $5.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 18.8% each year . All expenses for the organization totaled $4.1m during the year ending 12/2021. While expenses have increased by 13.3% 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 2020, Womens Business Development Council Inc has awarded 201 individual grants totaling $2,593,405. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
WBDC HELPS WOMEN ACHIEVE ECONOMIC SELF-RELIANCE BY EDUCATING AND COUNSELING THEM TO START AND GROW BUSINESSES, RESULTING IN JOB CREATION AND COMMUNITY VITALITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MISSION OF THE WOMEN'S BUSINESS DEVELOPMENT COUNCIL (WBDC) IS TO STRENGTHEN AND SUPPORT ECONOMIC SUCCESS FOR WOMEN THROUGH ENTREPRENEURIAL SERVICES THAT LAUNCH AND GROW BUSINESSES ACROSS CONNECTICUT. WBDC SERVES CLIENTS FROM CONNECTICUT'S 169 CITIES AND TOWNS FROM ITS THREE REGIONAL OFFICES ACROSS THE STATE: NEW HAVEN, STAMFORD AND NEW LONDON. SINCE 1997 WBDC HAS BEEN PROVIDING THE TRAINING NECESSARY TO GUIDE ASPIRING, EMERGING, AND ESTABLISHED ENTREPRENEURS ALONG THEIR GROWTH JOURNEY. SERVICES OFFERED INCLUDE THE FOLLOWING:EDUCATIONAL OPPORTUNITIES: 1:1 BUSINESS ADVISING, CLASSES (IN-PERSON AND VIRTUAL), ON-DEMAND LEARNING, MENTORING.IN ADDITION TO TRAINING, WBDC BELIEVES IN CONNECTING OUR CLIENTS, DONORS, AND OTHER STAKEHOLDERS, FOSTERING BUSINESS GROWTH THROUGH COLLABORATION AND TEAM SUPPORT.COMMUNITY ENGAGEMENTS: WBDC CONNECT MEMBERSHIP, COURAGEOUS CONVERSATIONS PODCAST, ANNUAL GALA & FUNDRAISING EVENTS, VIRTUAL MARKETPLACE, PUBLIC SPEAKING & MEDIA OPPORTUNITIES.FINANCIAL RESOURCES: WBDC HELPS ITS CLIENTS IDENTIFY SOURCES OF CAPITAL WHICH ALIGN WITH THEIR UNIQUE BUSINESS NEEDS AND PROVIDES GUIDANCE THROUGH THE APPLICATION AND COMPLIANCE PROCESS. RESOURCES INCLUDE WBDC'S OPPORTUNITY FUND GRANTS, BANK AND NON-BANK LOANS, PRIVATE INVESTMENTS, FEDERAL AND STATE COVID-19 RELIEF, OTHER NON-TRADITIONAL LOANS AND GRANTS.BUSINESS SUPPORT PROGRAM FOR CT CHILD CARE PROVIDERS: WBDC OFFERS A COMPREHENSIVE SUITE OF BUSINESS DEVELOPMENT SERVICES SUPPORTING CT CHILD CARE PROVIDERS, HOME AND CENTER-BASED, TO HELP THEM LAUNCH, SUSTAIN, AND GROW THEIR BUSINESSES. THE CHILD CARE BUSINESS DEVELOPMENT PROGRAM CATERS EXCLUSIVELY TO THE BUSINESS NEEDS OF THE CHILDCARE INDUSTRY: CUSTOMIZED ENTREPRENEURIAL TRAINING & TECHNICAL ASSISTANCE, PERSONAL FINANCIAL TRAINING & COACHING, MENTORING, FISCAL AND TECHNOLOGY INCENTIVES, ADVOCACY, TRAIN THE TRAINER.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Fran Pastore President And CEO | Officer | 40 | $250,386 |
Dorothy Bratchell COO | Officer | 40 | $156,788 |
Brenda Thickett VP Of Programs | Trustee | 1 | $120,000 |
Tracy Gibbons CFO | Officer | 40 | $75,000 |
Sharon Kane Vice Chair | OfficerTrustee | 1 | $0 |
Elizabeth T Hirsch Chair | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $346,349 |
| Related organizations | $0 |
| Government grants | $2,974,722 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,956,664 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,277,735 |
| Total Program Service Revenue | $19,542 |
| Investment income | $802 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$39,113 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,259,067 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,075,594 |
| 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. | $583,193 |
| Compensation of current officers, directors, key employees. | $61,841 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,261,035 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $171,476 |
| Payroll taxes | $154,827 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $19,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $447,898 |
| Advertising and promotion | $21,340 |
| Office expenses | $144,413 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $148,756 |
| Travel | $21,020 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,900 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,174 |
| Insurance | $10,765 |
| All other expenses | $0 |
| Total functional expenses | $4,133,229 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $849,577 |
| Savings and temporary cash investments | $2,529,724 |
| Pledges and grants receivable | $433,294 |
| 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 | $48,736 |
| Net Land, buildings, and equipment | $2,426 |
| Investments—publicly traded securities | $10,000 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $10,320 |
| Total assets | $3,884,077 |
| Accounts payable and accrued expenses | $76,563 |
| 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 | $1,705,925 |
| Total liabilities | $1,782,488 |
| Net assets without donor restrictions | $1,226,121 |
| Net assets with donor restrictions | $875,468 |
| 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 | $3,884,077 |
Grants Awarded
Over the last fiscal year, Womens Business Development Council Inc has awarded $828,875 in support to 86 organizations.
| Grant Recipient | Amount |
|---|---|
FIRST CALVARY BAPTIST CHURCH PURPOSE: CHILD CARE GRANTS | $16,466 |
CJ DRY CLEANERS PURPOSE: EQUITY GRANTS | $10,000 |
DEW YOGA PURPOSE: EQUITY GRANTS | $10,000 |
EDGESPACE MARKETING LLC PURPOSE: EQUITY GRANTS | $10,000 |
ARCHITECTURAL STONE LLC PURPOSE: EQUITY GRANTS | $10,000 |
CREATIVE ME PURPOSE: EQUITY GRANTS | $10,000 |
Grants Recieved
Over the last fiscal year, we have identified 24 grants that Womens Business Development Council Inc has recieved totaling $809,101.
| Awarding Organization | Amount |
|---|---|
Jp Morgan Chase Foundation New York, NY PURPOSE: IN SUPPORT OF UNDERSERVED SMALL BUSINESS EXPANSION | $150,000 |
Jp Morgan Chase Foundation New York, NY PURPOSE: IN SUPPORT OF UNDERSERVED SMALL BUSINESS EXPANSION | $150,000 |
Steven & Alexandra Cohen Foundation Inc Stamford, CT PURPOSE: WORKFORCE DEVELOPMENT | $100,000 |
Fairfield Countys Community Foundation Inc Norwalk, CT PURPOSE: FOR GENERAL SUPPORT. | $73,000 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $50,000 |
Tudor Foundation Inc Stamford, CT PURPOSE: CHARITABLE PURPOSES | $50,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Transcend Inc Hastingsonhudson, NY | $40,245,682 | $36,384,149 |
The Baruch College Fund New York, NY | $295,690,612 | $67,294,185 |
S&p Global Foundation New York, NY | $10,276,249 | $7,071,664 |
Workforce Outsource Services Inc Uniondale, NY | $10,340,814 | $13,464,902 |
North Star Academy Foundation Inc New York, NY | $177,913,521 | $11,304,915 |
Hyde Leadership Charter School-Brooklyn Brooklyn, NY | $3,932,564 | $12,878,236 |
Teach Plus Incorporated Boston, MA | $12,001,505 | $12,042,496 |
Onward Israel Internships And Opportunities Ltd New York, NY | $897,895 | $11,379,184 |
Goodwin College Educational Services Inc East Hartford, CT | $19,577 | $10,789,035 |
Education Resource Strategies Inc Watertown, MA | $16,861,900 | $10,099,352 |
Entrepreneurial Ventures In Education Quincy, MA | $4,865,485 | $11,072,937 |
Learning Through An Expanded Arts Program Inc New York, NY | $2,991,832 | $9,986,466 |