Overview
What is Great Lakes Women's Business Council?
The Great Lakes Women's Business Council is a nonprofit organization headquartered in Livonia, Michigan. Their primary mission is to support the economic empowerment of women and minorities through business development. They achieve this by providing training, vendor certification, networking opportunities, and assistance with accessing capital. The organization's loan program, primarily funded by the SBA and local government, offers small business loans to start-ups and existing business owners in southeastern Michigan. The Great Lakes Women's Business Council aims to remove barriers and equip entrepreneurs with effective business tools, ultimately fostering the growth of successful, sustainable businesses and strengthening the local community by leveraging resources. The organization employs around 20 individuals.
Official website here: www.greatlakeswbc.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96%
The Great Lakes Women's Business Council has achieved a Four-Star out of Four Star rating from Charity Navigator, indicating a high level of financial health and accountability. This exceptional score, based on a comprehensive assessment of its accountability and finance, reflects the organization’s commitment to transparency and effective management of resources.
The council demonstrates strong governance with 100% independent board members and a robust audit and oversight committee. In addition, its well-structured financial practices are highlighted by a significant program expense ratio of 76.38%, suggesting that a substantial portion of its resources is directed towards its programs rather than administrative costs. The organization also has a well-defined set of policies, including conflict of interest and whistleblower protections, which further underscores its commitment to ethical practices.
While the data showcases the council's strengths in governance and financial management, no significant limitations are noted in the available information. Overall, the Great Lakes Women's Business Council stands out as a commendable nonprofit dedicated to supporting women's businesses in the region.
This AI summary has been generated from information found on Charity Navigator.
Is Great Lakes Women's Business Council legitimate?
Great Lakes Women's Business Council is a legitimate nonprofit organization registered as a 501(c)(3) entity. Great Lakes Women's Business Council 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: $271,737
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,159,855
For more financial information, click here
Official website here: www.greatlakeswbc.org
What is the mission statement of Great Lakes Women's Business Council?
The Great Lakes Women's Business Council is dedicated to empowering women and minorities economically through various means. Their mission involves providing business development training, vendor certification, business-to-business networking, and access to capital assistance programs. The council aims to equip individuals with effective business tools and eliminate barriers that hinder the growth of successful, sustainable businesses. By doing so, they strengthen the community by fostering partnerships and leveraging resources that increase business growth opportunities.
Official website here: www.greatlakeswbc.org
Who is the CEO of Great Lakes Women's Business Council?
Michelle Richards is the Director of Great Lakes Women's Business Council.
Official website here: www.greatlakeswbc.org
What is the revenue of Great Lakes Women's Business Council?
Great Lakes Women's Business Council's revenue in 2022 was $2,702,361.
Official website here: www.greatlakeswbc.org
Who are the executives of Great Lakes Women's Business Council and what are their salaries?
The average compensation at Great Lakes Women's Business Council during 2022 was $71,580. There are 20 employees and 57 volunteers at Great Lakes Women's Business Council.
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- Compensation: $203,099
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- Other: $46,397
Official website here: www.greatlakeswbc.org
Where can I find the form 990 for Great Lakes Women's Business Council?
Great Lakes Women's Business Council's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.greatlakeswbc.org
Learn more at the official website: www.greatlakeswbc.org
Mission Statement of Great Lakes Women's Business Council
The Great Lakes Women's Business Council is dedicated to empowering women and minorities economically by facilitating business development. This nonprofit organization achieves this goal through various means, including providing business development training, vendor certification, and networking opportunities. They also offer assistance in accessing capital programs, ensuring that the tools needed for successful, sustainable businesses are readily available. By removing barriers that often hinder growth, the Great Lakes Women's Business Council strengthens the community by fostering partnerships and leveraging resources, ultimately increasing business growth opportunities.
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Impact
July, 2024
The Great Lakes Women's Business Council empowers women and minorities economically through business development training, vendor certification, business-to-business networking, and access to capital assistance programs. By providing effective business tools and removing barriers that hinder the development of successful, sustainable businesses, they strengthen the community by building partnerships and leveraging resources to increase business growth opportunities. Through their loan program, they provide small business loans to start-up and existing business owners in southeastern Michigan, with a focus on addressing the needs of low-income, minority, and women business owners. Their impact is evident in their commitment to fostering economic empowerment and promoting diversity in entrepreneurship, ultimately contributing to community improvement.
This information is meant to be a general summary of Great Lakes Women's Business Council. 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.
- Program Service Revenue: $819,617
- Gross Receipts: $2,702,361
Assets and Liabilities:
- Total Assets: $4,549,211
- Total Liabilities: $2,194,199
- Net Assets: $2,355,012
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
WOMENS BUS. CERTIFICAT
Revenue
$764,375
LOAN PORTFOLIO INTERES
Revenue
$48,232
LOAN PROCESSING AND PR
Revenue
$4,489
WORKSHOPS & BUS. DEV C
Revenue
$2,521
Organization Details
Founding Year
1984
Phone
(734) 677-1400Principal Officer
Michelle Richards
Main Address
33109 SCHOOLCRAFT ROAD, LIVONIA, MI, 48150
Website
www.greatlakeswbc.orgNTEE Category
Code: S43 - Community improvement
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