Great Lakes Womens Business Council
- Assets
- $4.5m
- Revenue
- $2.7m
- Investments
- $0.0
- Employees
- 20
- Location
- Livonia, MI
- Founding
- 09/1985
- Data as of
- 06/2022
- EIN
- 38-2571135
Organization Overview
Great Lakes Womens Business Council is located in Livonia, MI. The organization was established in 1985. According to its NTEE Classification (S40) the organization is classified as: Business & Industry, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2022, Great Lakes Womens Business Council employed 20 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Great Lakes Womens Business Council 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, Great Lakes Womens Business Council generated $2.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.9% each year. All expenses for the organization totaled $2.7m during the year ending 06/2022. While expenses have increased by 5.2% 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 2018, Great Lakes Womens Business Council has awarded 46 individual grants totaling $450,000. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
ASSIST WOMEN AND MINORITIES WITH BUSINESS DEVELOPMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LOAN PROGRAM - PROVIDE SMALL BUSINESS LOANS TO START-UP AND EXISTING BUSINESS OWNERS IN SOUTHEASTERN MICHIGAN. PROGRAM ADDRESSES NEEDS OF LOW-INCOME, MINORITY AND WOMEN BUSINESS OWNERS. LOAN PORTFOLIO IS FUNDED PRIMARILY BY SBA AND LOCAL GOVERNMENT.
WOMEN'S BUSINESS ENTERPRISE CERTIFICATION - PROVIDES CERTIFICATION PROGRAM FOR WOMEN OWNED BUSINESSES, INCLUDING TECHNICAL ASSISTANCE, COUNSELING AND RECOGNITION OF BUSINESS ACHIEVEMENTS.
BUSINESS DEVELOPMENT INITIATIVES - PROVIDE COMPREHENSIVE TRAINING, TECHNICAL ASSISTANCE AND PEER GROUP COUNSELING FOR WOMEN, LOAN RECIPIENTS, AND OTHER INDIVIDUALS WHO DESIRE TO START A SMALL BUSINESS.
MEMBERSHIPS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michelle Richards Executive Director | Officer | 50 | $203,099 |
Angela Henderson President | OfficerTrustee | 5 | $0 |
James Line Left April 2022 Vice President | OfficerTrustee | 5 | $0 |
Lauren Rakolta Treasurer | OfficerTrustee | 5 | $0 |
Roshunda Price Secretary | OfficerTrustee | 5 | $0 |
Lynne Davis Vice President | OfficerTrustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $133,600 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,218,970 |
| All other contributions, gifts, grants, and similar amounts not included above | $530,174 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,882,744 |
| Total Program Service Revenue | $819,617 |
| Investment income | $0 |
| 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 | $2,702,361 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $271,737 |
| Compensation of current officers, directors, key employees. | $83,377 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,159,855 |
| Pension plan accruals and contributions | $50,812 |
| Other employee benefits | $116,819 |
| Payroll taxes | $106,327 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $14,264 |
| Fees for services: Accounting | $114,681 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $332,541 |
| Advertising and promotion | $13,763 |
| Office expenses | $105,282 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $84,673 |
| Travel | $48,272 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $35,931 |
| Interest | $9,068 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $31,827 |
| Insurance | $5,049 |
| All other expenses | $9,001 |
| Total functional expenses | $2,713,360 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $124,454 |
| Savings and temporary cash investments | $2,822,307 |
| Pledges and grants receivable | $509,434 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $901,857 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $12,084 |
| Net Land, buildings, and equipment | $110,755 |
| Investments—publicly traded securities | $62,415 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,905 |
| Total assets | $4,549,211 |
| Accounts payable and accrued expenses | $163,263 |
| Grants payable | $0 |
| Deferred revenue | $346,416 |
| 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 | $1,486,318 |
| Other liabilities | $198,202 |
| Total liabilities | $2,194,199 |
| Net assets without donor restrictions | $1,923,493 |
| Net assets with donor restrictions | $431,519 |
| 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 | $4,549,211 |
Grants Awarded
Over the last fiscal year, Great Lakes Womens Business Council has awarded $300,000 in support to 40 organizations.
| Grant Recipient | Amount |
|---|---|
BLUESTONE EXECUITIVE COMMUNICATIONS LLC PURPOSE: COVID-19 SMALL BUSINESS RELIEF | $7,500 |
AVE OFFICE SUPPLIES PURPOSE: COVID-19 SMALL BUSINESS RELIEF | $7,500 |
ANDERZAK'S PRECISION MACHINING INC PURPOSE: COVID-19 SMALL BUSINESS RELIEF | $7,500 |
ADVANCED CABLE LLC PURPOSE: COVID-19 SMALL BUSINESS RELIEF | $7,500 |
BLUE DIAMOND LIMOUSINE & LUXURY TRANSPORT PURPOSE: COVID-19 SMALL BUSINESS RELIEF | $7,500 |
BIRDY BOUTIQUE LLC PURPOSE: COVID-19 SMALL BUSINESS RELIEF | $7,500 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Great Lakes Womens Business Council has recieved totaling $157,621.
| Awarding Organization | Amount |
|---|---|
Womens Business Enterprise National Council Washington, DC PURPOSE: TO SUBSIDIZE WBENC CERTIFICATION WORK. | $127,621 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $30,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Automation Alley Troy, MI | $10,050,141 | $14,162,417 |
International Automotive Oversight Bureau Southfield, MI | $23,323,319 | $7,456,066 |
Ohio Community Development Finance Fund Columbus, OH | $57,278,842 | $7,712,446 |
Cincinnati Better Business Bureau Inc Cincinnati, OH | $1,847,305 | $4,143,788 |
Battle Creek Unlimited Inc Battle Creek, MI | $30,442,185 | $6,639,976 |
American Academy Of Emergency Medicine Inc Milwaukee, WI | $5,226,963 | $3,404,237 |
Better Business Bureau Of Wisconsin Inc Milwaukee, WI | $5,171,220 | $3,579,852 |
Uptown Reinvestment Corporation Inc Flint, MI | $86,466,656 | $7,223,856 |
Great Lakes Womens Business Council Livonia, MI | $4,549,211 | $2,702,361 |
American Alliance Of Orthopaedic Executives Inc Indianapolis, IN | $1,277,728 | $2,372,301 |
Better Business Bureau Of Western Michigan Inc Grand Rapids, MI | $2,011,016 | $2,272,274 |
Better Business Bureau Of Toledo Inc Toledo, OH | $3,159,147 | $2,296,874 |