Overview
What is Women's Economic Ventures?
Women's Economic Ventures (WEV) is a community development financial institution (CDFI) situated in Santa Barbara, California. Their primary mission is to foster economic empowerment among women by offering small business loans, business training, and technical assistance. WEV serves a wide range of clients, including both men and women, and provides micro enterprise loans of up to $25,000 for startups and business expansion loans of up to $150,000 for prebankable businesses. In 2022, WEV delivered 1,843 sessions of individual consulting to 185 clients and granted 24 business loans amounting to $624,500. The organization is committed to contributing to a more equitable and just society.
Official website here: www.wevonline.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 94% (Four-Star out of Four Stars)
Women's Economic Ventures has achieved a high rating of 94%, reflecting its strong performance in accountability, finance, and community engagement. The organization excels in its program expense ratio, indicating that a significant majority of its financial resources are directed toward its core programs. Constituent feedback is outstanding, with a perfect score that underscores the high level of satisfaction among those it serves.
The nonprofit boasts a fully independent board, enhancing its governance and decision-making processes. With 16 members, the board's structure is robust, supporting comprehensive oversight. Additionally, the organization has implemented a range of policies, including conflict of interest and whistleblower policies, which contribute to its transparency and ethical standards.
While the organization demonstrates numerous strengths, it is essential to recognize that maintaining such high standards requires continual commitment and adaptive strategies to meet evolving community needs. Overall, Women's Economic Ventures stands out as an effective and well-managed nonprofit dedicated to empowering women economically.
This AI summary has been generated from information found on Charity Navigator.
Is Women's Economic Ventures legitimate?
Women's Economic Ventures is a legitimate nonprofit organization registered as a 501(c)(3) entity. Women's Economic Ventures 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: $271,463
Professional Fundraising Fees: $0
Other Salaries and Wages: $2,100,781
For more financial information, click here
Official website here: www.wevonline.org
What is the mission statement of Women's Economic Ventures?
Women's Economic Ventures (WEV) is committed to fostering a fair and just society by empowering women economically. Their mission is centered around this objective, striving to achieve it through various means. Specifically, WEV provides small business loans, business training, and technical assistance to primarily low-income women, helping them to either start or expand their ventures. As a Community Development Financial Institution (CDFI), WEV offers micro-enterprise loans up to $25,000 for startups and business expansion loans up to $150,000 for prebankable businesses. In 2022, WEV offered training and technical assistance to numerous clients and provided 24 business loans totaling $624,500. While WEV serves both men and women in all its programs, its primary focus is on economically empowering women.
Official website here: www.wevonline.org
Who is the CEO of Women's Economic Ventures?
Kathy Odell is the CEO of Women's Economic Ventures The CEO's salary of Women's Economic Ventures is $174,238 and their total compensation is $175,870.
Official website here: www.wevonline.org
What is the revenue of Women's Economic Ventures?
Women's Economic Ventures's revenue in 2023 was $4,198,397.
Official website here: www.wevonline.org
Who are the executives of Women's Economic Ventures and what are their salaries?
The average compensation at Women's Economic Ventures during 2023 was $40,901. There are 58 employees and 85 volunteers at Women's Economic Ventures.
Here are 20 key members and their salaries (Women's Economic Ventures's CEO's salary is $174,238 and their total compensation is $175,870):
- Compensation: $174,238
- Related: $0
- Other: $1,632
- Compensation: $134,849
- Related: $0
- Other: $13,285
- Compensation: $105,581
- Related: $0
- Other: $17,614
- Compensation: $105,346
- Related: $0
- Other: $3,471
- Compensation: $105,720
- Related: $0
- Other: $10,608
- Compensation: $92,000
- Related: $0
- Other: $3,593
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.wevonline.org
Where can I find the form 990 for Women's Economic Ventures?
Women's Economic Ventures's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.wevonline.org
Learn more at the official website: www.wevonline.org
Mission Statement of Women's Economic Ventures
Women's Economic Ventures (WEV) is committed to fostering a fair and just society by economically empowering women. Their mission is centered around this principle, aiming to uplift women and contribute to societal equality. As a Community Development Financial Institution (CDFI), WEV provides essential resources such as small business loans, business training, and technical assistance. These services are instrumental in helping low-income women launch or expand their businesses. WEV offers micro-enterprise loans of up to $25,000 for startups and business expansion loans of up to $150,000 for pre-bankable businesses. It's worth noting that WEV serves both men and women in all its programs, demonstrating its commitment to inclusivity. In 2022, WEV provided training and technical assistance to a significant number of clients, offering 1,843 individual consulting sessions and providing 24 business loans totaling $624,500.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
July, 2024
Women's Economic Ventures (WEV) empowers primarily low-income women by providing them with small business loans, business training, and technical assistance. In 2022, WEV delivered 1,843 sessions of individual consulting to 185 clients and issued 24 business loans totaling $624,500. This assistance enables women to start or expand their small businesses, contributing to their economic independence and success. By offering micro enterprise loans of up to $25,000 for startups and business expansion loans of up to $150,000 for prebankable businesses, WEV plays a crucial role in fostering entrepreneurship and economic growth in the community.
This information is meant to be a general summary of Women's Economic Ventures. 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 2023.
- Investment Income: $141,872
- Program Service Revenue: $284,588
- Gross Receipts: $4,717,328
Assets and Liabilities:
- Total Assets: $6,567,261
- Total Liabilities: $3,557,051
- Net Assets: $3,010,210
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
FEES FOR SERVICE
Revenue
$119,812
EDUCATION PROGRAM FEES
Revenue
$78,798
LOAN INTEREST EARNED
Revenue
$77,410
LOAN FEES EARNED
Revenue
$5,665
OTHER PROGRAM INCOME
Revenue
$2,903
Organization Details
Founding Year
1981
Principal Officer
Nicola Parr
Website
www.wevonline.orgNTEE Category
Code: W70Z - Public benefit
If you are a representative of Women's Economic Ventures 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.