Overview
What is Women's Business Development Center?
The Women's Business Development Center, situated in Chicago, Illinois, is a nonprofit organization dedicated to fostering business growth and development, particularly focusing on women, underserved communities, and veterans. Their mission involves providing essential support to enhance these groups' economic participation and impact. The Access to Capital Program, a key initiative, offers financial assessments, counseling, loan application assistance, and direct lending, thereby aiding business owners in managing their finances more effectively. During the fiscal year, the Women's Business Development Center served as a subrecipient of federal grants, distributing approximately $900,000 to grantees and partners to administer six COVID-19 relief programs. With a workforce of 51 individuals, the center played a significant role in supporting the economic participation of its targeted communities.
Official website here: www.wbdc.org
What are the reviews and ratings of this charity?
**: Charity Navigator Rating 88% (Three-Star out of Four Stars )**ar Rating)**
The Women's Business Development Center (WBDC) received an 88% score from Charity Navigator, indicating a strong performance in Accountability & Finance, with a score of 85. The organization stands out with 86% independent board members and has demonstrated rigorous financial practices, such as having no material diversion of assets and adhering to comprehensive oversight policies. The recent increase in star ratings reflects enhancements in its transparency and accountability measures.
WBDC is recognized as the oldest and largest women's business assistance center in the U.S., having supported over 55,000 women entrepreneurs and established additional centers nationwide. With a focus on impactful client experiences, the organization offers targeted programs aimed at fostering business growth, particularly for diverse small businesses affected by the pandemic’s digital divide. WBDC's commitment to leadership development and DEI initiatives illustrates its dedication to fostering an inclusive business ecosystem.
While the overall rating is commendable, the absence of a score for Impact & Measurement signals a potential area for improvement in demonstrating the effectiveness of its programs. This factor might influence stakeholders seeking comprehensive insights into the long-term impact of the organization's services.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about Women's Business Development Center?
92% of 287 reviewers on Facebook recommend the Women's Business Development Center. Here is a summary of their reviews:
Many individuals appreciate the center’s focus on providing valuable certification programs that they find highly beneficial for their business journeys. This emphasis on certification seems to resonate strongly with users, highlighting the center's commitment to empowering women entrepreneurs and enhancing their capabilities in the business world.
Overall, the sentiment expressed in the reviews indicates a high level of satisfaction, with numerous users mentioning how the services provided have positively impacted their professional development. The Women's Business Development Center stands out for its supportive environment and effective educational strategies tailored for women in business.
This AI summary has been generated from reviews found on Facebook.
Is Women's Business Development Center legitimate?
Women's Business Development Center is a legitimate nonprofit organization registered as a 501(c)(3) entity. Women's Business Development Center submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $282,832
Professional Fundraising Fees: $0
Other Salaries and Wages: $2,943,800
For more financial information, click here
Official website here: www.wbdc.org
What is the mission statement of Women's Business Development Center?
The Women's Business Development Center (WBDC) is dedicated to supporting and accelerating business development and growth, with a focus on empowering women, underserved communities, and veterans. The organization aims to strengthen their participation in, and impact on, the economy. The WBDC provides various resources, such as financial assessments, loan application assistance, and direct lending, through their Access to Capital program. They were also the subrecipient of federal grants, which they utilized to administer several COVID-19 relief programs, distributing approximately $900,000 to grantees and partners, serving over 1,100 individuals during that fiscal year.
Official website here: www.wbdc.org
Who is the CEO of Women's Business Development Center?
Emilia Dimenco is the President & Chief Executive of Women's Business Development Center. The CEO's salary of Women's Business Development Center is $171,339 and their total compensation is $236,634.
Official website here: www.wbdc.org
What is the revenue of Women's Business Development Center?
Women's Business Development Center's revenue in 2022 was $10,552,420.
Official website here: www.wbdc.org
Who are the executives of Women's Business Development Center and what are their salaries?
The average compensation at Women's Business Development Center during 2022 was $63,267. There are 51 employees and 40 volunteers at Women's Business Development Center.
Here are 26 key members and their salaries (Women's Business Development Center's CEO's salary is $171,339 and their total compensation is $236,634):
- Compensation: $171,339
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- Other: $65,295
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Official website here: www.wbdc.org
Where can I find the form 990 for Women's Business Development Center?
Women's Business Development Center's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.wbdc.org
Learn more at the official website: www.wbdc.org
Mission Statement of Women's Business Development Center
The Women's Business Development Center (WBDC) is committed to supporting and fostering business growth and development, with a specific focus on empowering women, underserved communities, and veterans. Its mission is to strengthen their participation in, and impact on, the economy. To achieve this, the WBDC provides resources and assistance, such as financial assessments, counseling, loan application help, and direct lending through its Access to Capital program. During fiscal year, the WBDC, as a subrecipient of federal grants, administered six COVID-19 relief programs, distributing approximately $900,000 to grantees and partners, serving a total of 1,112 individuals. By focusing on business development and growth, the Women's Business Development Center aims to empower these underrepresented groups and contribute to a more diverse and inclusive economic landscape.
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Impact
October, 2024
The Women's Business Development Center (WBDC) plays a crucial role in fostering economic growth by targeting women, underserved communities, and veterans. By providing tailored support and resources, it accelerates business development and enhances the participation of these groups in the economy.
Through its Access to Capital program, the WBDC helps business owners gain a clearer understanding of their financial situations. This includes offering financial assessments, counseling, assistance with loan applications, and even direct lending options. The organization's efforts were especially significant during the fiscal year when it managed six government COVID-19 relief programs, distributing approximately $900,000 to grantees and partners. This initiative served to support 1,112 individuals, demonstrating the center's impactful role in bolstering local businesses during challenging times.
Ultimately, the WBDC strengthens economic participation by empowering entrepreneurs with the knowledge and resources needed to grow their businesses, thereby contributing to the overall improvement of the community.
This information is meant to be a general summary of Women's Business Development Center. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $2,410
- Program Service Revenue: $1,514,052
- Gross Receipts: $10,552,420
Assets and Liabilities:
- Total Assets: $7,048,697
- Total Liabilities: $824,156
- Net Assets: $6,224,541
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
WOMEN'S BUSINESS CERT FEES
Revenue
$1,314,570
NATIONAL CERT FEES
Revenue
$163,855
SEMINARS
Revenue
$17,762
PROGRAM INTEREST
Revenue
$16,309
LOAN FEES
Revenue
$1,556
Organization Details
Founding Year
1986
Phone
(312) 853-3477Principal Officer
Emilia Dimenco
Main Address
8 S MICHIGAN AVENUE 400, CHICAGO, IL, 60603
Website
www.wbdc.orgNTEE Category
Code: S43 - Community improvement
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