Overview
What is Wisconsin Womens Business Initiative Corporation?
The Wisconsin Women's Business Initiative Corporation, located in Milwaukee, Wisconsin, is a nonprofit organization that focuses on economic development. They achieve this by offering access to capital through direct lending, providing one-on-one business assistance, and delivering business education, all with a particular emphasis on supporting women, people of color, lower income individuals, and veterans. In fiscal year 2022, they successfully closed 109 loans, totaling $8,271,667 in small business and microloan products. The organization's mission is to empower these underrepresented groups by offering asset building financial awareness education, contributing to their overall growth and success.
Official website here: www.wwbic.com
What are the reviews and ratings of this charity?
Charity Navigator rates the Wisconsin Womens Business Initiative Corporation with a Three-Star out of Four Star rating, achieving an overall score of 78%. This score primarily reflects the organization's strong accountability and finance practices, indicating that it has established robust oversight and transparency measures. Notably, the organization demonstrates a high level of independence on its board and solid governance policies, which contribute positively to its financial health.
While the organization performs well in critical areas such as board oversight and conflict of interest policies, it has limitations in certain financial metrics, specifically a liability to assets ratio that has not met expectations. Additionally, while the program expense ratio is commendable at 67.50%, there is no score available for impact measurement, culture, or community engagement, highlighting areas where further evaluation could enhance understanding of its effectiveness.
Currently, there are no user reviews available from GreatNonprofits, which limits insight into the community's direct experiences with the organization. Overall, while Wisconsin Womens Business Initiative Corporation exhibits strong governance and management practices, potential donors and supporters might seek additional information regarding its impact and community engagement.
This AI summary has been generated from information found on Charity Navigator.
Is Wisconsin Womens Business Initiative Corporation legitimate?
Wisconsin Womens Business Initiative Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Wisconsin Womens Business Initiative Corporation 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: $388,692
Professional Fundraising Fees: $0
Other Salaries and Wages: $3,659,946
For more financial information, click here
Official website here: www.wwbic.com
What is the mission statement of Wisconsin Womens Business Initiative Corporation?
The Wisconsin Women's Business Initiative Corporation is committed to fostering economic development. They achieve this by providing various services, including direct lending, one-on-one business assistance, business education, and asset building financial awareness education. The corporation places a significant emphasis on supporting women, people of color, individuals with lower incomes, and veterans. In FY 2022, they closed 109 loans totaling $8,271,667 in small business and microloan products, further demonstrating their dedication to financial empowerment.
Official website here: www.wwbic.com
Who is the CEO of Wisconsin Womens Business Initiative Corporation?
Wendy K Baumann is the Chairperson of Wisconsin Womens Business Initiative Corporation.
Official website here: www.wwbic.com
What is the revenue of Wisconsin Womens Business Initiative Corporation?
Wisconsin Womens Business Initiative Corporation's revenue in 2022 was $9,606,906.
Official website here: www.wwbic.com
Who are the executives of Wisconsin Womens Business Initiative Corporation and what are their salaries?
The average compensation at Wisconsin Womens Business Initiative Corporation during 2022 was $40,895. There are 99 employees and 300 volunteers at Wisconsin Womens Business Initiative Corporation.
Here are 17 key members and their salaries:
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- Compensation: $104,813
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- Other: $13,542
- Compensation: $191,360
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- Other: $4,858
Official website here: www.wwbic.com
Where can I find the form 990 for Wisconsin Womens Business Initiative Corporation?
Wisconsin Womens Business Initiative Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.wwbic.com
Learn more at the official website: www.wwbic.com
Mission Statement of Wisconsin Womens Business Initiative Corporation
Wisconsin Women's Business Initiative Corporation is dedicated to promoting economic development primarily by providing access to capital, offering one-on-one business assistance, and delivering business education. With a special focus on women, people of color, lower income individuals, and veterans, the corporation also offers asset building financial awareness education. Their mission is to empower these groups by offering financial resources and personalized business guidance, aiming to foster entrepreneurial growth and financial stability. In the fiscal year 2022, the corporation successfully closed 109 loans, totaling $8,271,667 in small business and microloan products, demonstrating their commitment to supporting the economic development of their target communities.
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Impact
July, 2024
Wisconsin Womens Business Initiative Corporation's impact is clear and significant. In FY 2022, WWBIC closed on 109 loans totaling $8,271,667 in small business and microloan products. By providing access to capital, individualized business assistance, business education, and financial awareness education, WWBIC plays a crucial role in fostering economic development for women, people of color, lower incomes, and veterans in Milwaukee, Wisconsin. This organization's efforts contribute directly to the empowerment and growth of underserved communities, creating pathways for entrepreneurship and financial stability.
This information is meant to be a general summary of Wisconsin Womens Business Initiative Corporation. 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: $1,539,570
- Program Service Revenue: $2,129,357
- Gross Receipts: $9,685,439
Assets and Liabilities:
- Total Assets: $45,566,731
- Total Liabilities: $34,876,708
- Net Assets: $10,690,023
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
CONSULTING FEES
Revenue
$1,914,187
LOAN FEES
Revenue
$199,841
TRAINING FEES
Revenue
$15,329
Organization Details
Founding Year
1987
Phone
(414) 263-5450Principal Officer
Wendy K Baumann
Main Address
1533 N RIVERCENTER DRIVE, MILWAUKEE, WI, 53212
Website
www.wwbic.comIf you are a representative of Wisconsin Womens Business Initiative Corporation and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.