Wisconsin Womens Business Initiative Corporation
- Assets
- $42.0m
- Revenue
- $10.6m
- Investments
- $0.0
- Employees
- 110
- Location
- Milwaukee, WI
- Founding
- 05/1988
- Data as of
- 12/2021
- EIN
- 39-1597954
Organization Overview
Wisconsin Womens Business Initiative Corporation is located in Milwaukee, WI. The organization was established in 1988. 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 12/2021, Wisconsin Womens Business Initiative Corporation employed 110 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wisconsin Womens Business Initiative Corporation 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, Wisconsin Womens Business Initiative Corporation 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 10.8% each year . All expenses for the organization totaled $9.3m during the year ending 12/2021. While expenses have increased by 10.1% 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, Wisconsin Womens Business Initiative Corporation has awarded 297 individual grants totaling $2,728,723. 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
PROVIDE ECONOMIC DEVELOPMENT BY PROVIDING ACCESS TO CAPITAL INCLUDING DIRECT LENDING; ONE ON ONE INDIVIDUALIZED BUSINESS ASSISTANCE; BUSINESS EDUCATION, AND ASSET BUILDING FINANCIAL AWARENESS EDUCATION WITH AN EMPHASIS ON WOMEN, PEOPLE OF COLOR, LOWER INCOMES, AND VETERANS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN FY 2021, WWBIC CLOSED ON $8,914,924 IN SMALL BUSINESS LOANS INCLUDING WWBIC LOAN PRODUCTS ($5,921,500); SBA PAYCHECK PROTECTION PROGRAM LOANS ($1,117,424); CDBG FORGIVABLE LOANS ($1,110,000) AND KIVA LOANS ($766,000).
IN FY 2021, WWBIC PROVIDED 24,726 COUNSELING AND TRAINING HOURS TO ENTREPRENEURS AND POTENTIAL ENTREPRENEURS. THE VETRANS BUSINESS OUTREACH CENTER PROGRAM TRAINED 896 VETRANS AND MILITARY-CONNECTED FAMILY MEMBERS, ASSISTED IN STARTING 78 VETRAN OWNED BUSINESSES, AND CREATED/RETAINED 316 JOBS. WWBIC'S MAKE YOUR MONEY TALK FINANCIAL CAPABILITY TRAINING GRADUATED 126 INDIVIDUALS. INCLUDING OPENING 17 IDAS AND PROVIDING 1,158 COUNSELING HOURS.
DURING FY2021, WWBIC ADMINISTERED A FISCAL SPONSORSHIP PROJECT WHICH SURVEYS BUSINESSES AND ENTREPRENEURIAL SUPPORT ORGANIZATIONS (ESOS). THIS INFORMATION IS COMPILED INTO A REPORT AND FORWARDED TO THE MAIN REPORTING ENTITY TO DEVELOP CAPACITY-BUILDING PROGRAMS AND SERVICES TO SUPPORT THE ESOS IN THEIR EFFORTS TO SUPPORT SMALL BUSINESSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Wendy K Baumann President | OfficerTrustee | 40 | $145,737 |
Jon Gaines CFO | Officer | 40 | $130,744 |
Steven Saloutos Chairperson | OfficerTrustee | 1 | $0 |
Kathryn Andrea Treasurer | OfficerTrustee | 1 | $0 |
Johnny L Moutry Jr Vice Chairperson & Secretary | OfficerTrustee | 1 | $0 |
Willam Coleman Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Af Technical Resources It Services | 12/30/21 | $159,652 |
Aston University Fiscal Sponsorship | 12/30/21 | $273,250 |
Zizzl Health Benefits Admin | 12/30/21 | $387,837 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $5,715,236 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,378,002 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,093,238 |
| Total Program Service Revenue | $1,784,826 |
| Investment income | $1,439,045 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $85,330 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,583,804 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,212,885 |
| 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. | $284,572 |
| Compensation of current officers, directors, key employees. | $85,801 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,675,399 |
| Pension plan accruals and contributions | $150,618 |
| Other employee benefits | $520,826 |
| Payroll taxes | $316,348 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $58,763 |
| Fees for services: Accounting | $44,584 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $670,384 |
| Advertising and promotion | $54,090 |
| Office expenses | $241,216 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $362,084 |
| Travel | $48,304 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $63,870 |
| Interest | $379,481 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,277 |
| Insurance | $68,690 |
| All other expenses | $124,507 |
| Total functional expenses | $9,253,441 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $20,516,888 |
| Savings and temporary cash investments | $208,791 |
| Pledges and grants receivable | $2,237,669 |
| Accounts receivable, net | $1,312,753 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $17,624,002 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $114,276 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $42,014,379 |
| Accounts payable and accrued expenses | $1,668,366 |
| Grants payable | $0 |
| Deferred revenue | $3,781,733 |
| 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 | $1,313,850 |
| Unsecured mortgages and notes payable | $24,737,911 |
| Other liabilities | $3,218 |
| Total liabilities | $31,505,078 |
| Net assets without donor restrictions | $10,175,153 |
| Net assets with donor restrictions | $334,148 |
| 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 | $42,014,379 |
Grants Awarded
Over the last fiscal year, Wisconsin Womens Business Initiative Corporation has awarded $791,469 in support to 76 organizations.
| Grant Recipient | Amount |
|---|---|
AMRI COUNSELING SERVICES LLC PURPOSE: JLH FOUNDATION GRANT AWARD | $25,000 |
JAMAICAN SEASON ISLAND LLC PURPOSE: JLH FOUNDATION GRANT AWARD | $25,000 |
THE SWC RETREAT LLC PURPOSE: JLH FOUNDATION GRANT AWARD | $20,000 |
LEGACY HOME HEALTH CARE & HOSPICE LLC PURPOSE: JLH FOUNDATION GRANT AWARD | $20,000 |
CARTER'S QUALITY CARE LLC PURPOSE: JLH FOUNDATION GRANT AWARD | $15,000 |
HANDS AT HOME LLC PURPOSE: JLH FOUNDATION GRANT AWARD | $15,000 |
Grants Recieved
Over the last fiscal year, we have identified 17 grants that Wisconsin Womens Business Initiative Corporation has recieved totaling $1,730,105.
| Awarding Organization | Amount |
|---|---|
Otto Bremer Trust St Paul, MN PURPOSE: CBFC EMERGENCY FUND | $750,000 |
Opportunity Finance Network Philadelphia, PA PURPOSE: OFNS SMALL BUSINESS GRANT PROGRAM FUNDED BY GOOGLE.ORG | $125,000 |
Local Initiatives Support Corporation New York, NY PURPOSE: SEE PART IV | $110,000 |
Full Of Grace Foundation Inc El Dorado Hills, CA PURPOSE: SUPPORTING THE MISSION OF BLACK AND BROWN OWNED BUSINESSES AND NONPROFITS | $110,000 |
Greater Milwaukee Foundation Inc Milwaukee, WI PURPOSE: OPERATING SUPPORT | $105,000 |
Greater Milwaukee Foundation Inc Milwaukee, WI PURPOSE: OPERATING SUPPORT | $105,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Metropolitan Consortium Of Community Developers Minneapolis, MN | $14,565,346 | $14,747,823 |
Wisconsin Womens Business Initiative Corporation Milwaukee, WI | $42,014,379 | $10,583,804 |
Women Venture St Paul, MN | $7,708,341 | $8,474,014 |
Allies For Community Business Inc Chicago, IL | $54,726,016 | $12,452,578 |
Urban Ventures Leadership Foundation Minneapolis, MN | $23,559,763 | $6,521,879 |
Bunker Labs Nfp Inc Chicago, IL | $3,938,287 | $4,312,612 |
Detroit Development Fund Detroit, MI | $19,500,518 | $2,941,920 |
Bioconnect Iowa Des Moines, IA | $1,127,931 | $1,803,790 |
Startingblock Madison Inc Madison, WI | $3,788,993 | $962,585 |
Central Minnesota Development Company Andover, MN | $3,109,444 | $999,166 |
Beta Group Minneapolis, MN | $157,595 | $502,721 |
Macomb County Community Dispute Resolution Center Inc Mt Clemens, MI | $219,458 | $522,966 |