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Nonprofiteer
← WISCONSIN WOMENS BUSINESS INITIATIVE CORPORATION

Form 990 for tax year 2022

Filed by WISCONSIN WOMENS BUSINESS INITIATIVE CORPORATION.

Totals

Total revenue
$9,606,906
Total expenses
$9,384,182
Contributions and grants received
$5,632,560
Grants paid
$795,654
Program service revenue
$2,129,357
Investment income
$1,539,570
Other revenue
$305,419
Total assets, end of year
$45,566,731
Total liabilities, end of year
$34,876,708
Net assets or fund balances, end of year
$10,690,023
Program services expenses (Part IX)
$5,936,471
Management and general expenses
$3,263,805
Fundraising expenses
$183,906
Program service expenses (Part III)
$5,936,471

Program services were 63.3% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $4,779,628

  • 1f · All other contributions, gifts and grants

    $852,932

  • 2a · Program service revenue: CONSULTING FEES

    total $1,914,187 · related or exempt $1,914,187

  • 2b · Program service revenue: LOAN FEES

    total $199,841 · related or exempt $199,841

  • 2c · Program service revenue: TRAINING FEES

    total $15,329 · related or exempt $15,329

  • 3 · Investment income

    total $1,539,570 · related or exempt $1,500,189 · excluded $39,381

  • 8a · Fundraising events: gross income

    $185,430

  • 8b · Fundraising events: direct expenses

    $78,533

  • 8c · Net income from fundraising events

    total $106,897 · excluded $106,897

  • 11a · Other revenue: IDA FEES

    total $139,992 · related or exempt $139,992

  • 11b · Other revenue: COLLECTION ON BAD DEBT

    total $39,314 · related or exempt $39,314

  • 11c · Other revenue: MISCELLANEOUS

    total $19,216 · related or exempt $19,216

  • 11e · Other revenue, total

    $198,522

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $795,654 · program services $795,654

  • 5 · Compensation of officers, directors and key employees

    total $388,692 · program services $246,287 · management and general $128,400 · fundraising $14,005

  • 7 · Other salaries and wages

    total $3,659,946 · program services $2,377,784 · management and general $1,155,038 · fundraising $127,124

  • 8 · Pension plan contributions

    total $98,223 · program services $62,703 · management and general $35,520

  • 9 · Other employee benefits

    total $615,764 · program services $308,708 · management and general $274,628 · fundraising $32,428

  • 10 · Payroll taxes

    total $321,139 · program services $211,554 · management and general $99,236 · fundraising $10,349

  • 11b · Fees: legal

    total $112,019 · program services $108,491 · management and general $3,528

  • 11c · Fees: accounting

    total $34,520 · program services $1,520 · management and general $33,000

  • 11g · Fees: other

    total $987,299 · program services $580,843 · management and general $406,456

  • 12 · Advertising and promotion

    total $29,260 · program services $2,273 · management and general $26,987

  • 13 · Office expenses

    total $334,148 · program services $96,022 · management and general $238,126

  • 16 · Occupancy

    total $408,992 · program services $8,256 · management and general $400,736

  • 17 · Travel

    total $148,939 · program services $33,380 · management and general $115,559

  • 19 · Conferences, conventions and meetings

    total $109,862 · program services $28,421 · management and general $81,441

  • 20 · Interest

    total $465,187 · program services $465,187

  • 23 · Insurance

    total $51,966 · management and general $51,966

  • 24a · Other expenses: BAD DEBT EXPENSE

    total $546,423 · program services $546,423

  • 24b · Other expenses: TRAINING AND DEVELOPMEN

    total $64,840 · program services $21,276 · management and general $43,564

  • 24c · Other expenses: OTHER EXPENSE

    total $47,619 · program services $2,167 · management and general $45,452

  • 24d · Other expenses: CREDIT ANALYSIS AND FIL

    total $44,522 · program services $34,067 · management and general $10,455

  • 24e · All other expenses

    total $119,168 · program services $5,455 · management and general $113,713

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $20,516,888 · end of year $17,144,939

  • 2 · Savings and temporary cash investments

    beginning of year $208,791 · end of year $200,164

  • 3 · Pledges and grants receivable

    beginning of year $2,237,669 · end of year $2,237,075

  • 4 · Accounts receivable

    beginning of year $1,312,753 · end of year $1,709,930

  • 7 · Other notes and loans receivable

    beginning of year $17,624,002 · end of year $19,408,882

  • 9 · Prepaid expenses and deferred charges

    beginning of year $114,276 · end of year $109,316

  • 10a · Land, buildings and equipment: cost or other basis

    $425,339

  • 10b · Land, buildings and equipment: accumulated depreciation

    $425,339

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    end of year $3,755,679

  • 15 · Other assets

    beginning of year $0 · end of year $1,000,746

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,668,366 · end of year $2,146,838

  • 19 · Deferred revenue

    beginning of year $3,781,733 · end of year $6,383,491

  • 23 · Secured mortgages and notes payable

    beginning of year $1,313,850 · end of year $1,429,711

  • 24 · Unsecured notes and loans payable

    beginning of year $24,737,911 · end of year $23,899,743

  • 25 · Other liabilities

    beginning of year $3,218 · end of year $1,016,925

  • 27 · Net assets without donor restrictions

    beginning of year $10,175,153 · end of year $10,355,875

  • 28 · Net assets with donor restrictions

    beginning of year $334,148 · end of year $334,148

Mission and programs · 2022

Mission

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.

  • IN FY 2022, WWBIC CLOSED ON 109 LOANS TOTALING $ 8,271,667 DOLLARS IN SMALL BUSINESS AND MICROLOAN PRODUCTS.

    Expenses $3,265,274 · Grants $429,674 · Revenue $2,771,157

  • IN FY 2022, WWBIC PROVIDED 24,042 COUNSELING AND TRAINING HOURS TO ENTREPRENEURS AND POTENTIAL ENTREPRENEURS. THE VETERANS BUSINES OUTREACH CENTER PROGRAM TRAINED 638 VETERANS AND MILITARY-CONNECTED FAMILY MEMBERS. WWBIC'S MAKE YOUR MONEY TALK FINANCIAL CAPABILITY TRAINING GRADUATED 170 INDIVIDUALS AND OPENED 104 MATCHED SAVINGS ACCOUNTS.

    Expenses $2,184,912 · Grants $279,580 · Revenue $561,370

  • DURING FY2022, 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.

    Expenses $486,285 · Grants $86,400 · Revenue $495,541

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Steve Saloutos

    CHAIRPERSON

    Total calculated
    $0
    Hours/week
    1

  • Johnny L Moutry Jr

    VICE CHAIR & SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Kathryn Andrea

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Lorissa R Banuelos

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • William Coleman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Kate Hill

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Lisa Johnson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Michael McDonagh

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Kip Ritchie

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • John M Stewart

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Wendy K Baumann

    PRESIDENT

    Total calculated
    $209,785
    From this org
    $189,562
    From related orgs
    $0
    Other
    $20,223
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $189,562
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $20,223
    Filer's total
    $209,785

  • Karin Gale

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jon Gaines

    VP BUSINESS AND FINANCE

    Total calculated
    $178,907
    From this org
    $150,680
    From related orgs
    $0
    Other
    $28,227
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $150,680
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $28,227
    Filer's total
    $178,907

  • Kamaljit Jackson

    VP PROGRAMS AND OPERATIONS

    Total calculated
    $166,194
    From this org
    $139,084
    From related orgs
    $0
    Other
    $27,110
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $139,084
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $27,110
    Filer's total
    $166,194

  • Christina Knudsen

    VP DEVELOPMENT AND COMMUNICATIONS

    Total calculated
    $132,561
    From this org
    $123,513
    From related orgs
    $0
    Other
    $9,048
    Hours/week
    40

  • Heather Lux

    REGIONAL DIRECTOR - SE

    Total calculated
    $118,355
    From this org
    $104,813
    From related orgs
    $0
    Other
    $13,542
    Hours/week
    40

  • Kimberly Zeuli

    SMALL BUSINESS FINANCE FORWARD PROJECT MANAGER

    Total calculated
    $196,218
    From this org
    $191,360
    From related orgs
    $0
    Other
    $4,858
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $191,360
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $4,858
    Filer's total
    $196,218

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

  • UW-MADISON DEPOSIT ACCOUNT

    $52,000

    SMALL BUSINESS ASSISTANCE

  • ADVENTURES IN FARMING

    $15,000

    BREWERS GRANT

  • PICTURE ME LLC

    $15,000

    SMALL BUSINESS ASSISTANCE

  • PLANTIVORE LLC

    $15,000

    SMALL BUSINESS ASSISTANCE

  • LIL LO TRUCKING LLC

    $12,370

    SMALL BUSINESS ASSISTANCE

  • WINDOW OF OPPORTUNITY ENTERPRI

    $10,128

    SMALL BUSINESS ASSISTANCE

  • ADAS HOUSE LLC

    $10,000

    SMALL BUSINESS ASSISTANCE

  • BRIDGEWATER PERFRMNCE

    $10,000

    SMALL BUSINESS ASSISTANCE

  • CHECKPOINT KENOSHA LLC

    $10,000

    SMALL BUSINESS ASSISTANCE

  • D&D CHIROPRACTIC AND WELLNESS

    $10,000

    SMALL BUSINESS ASSISTANCE

The 10 largest by cash amount. The API serves every itemized grant.

Provenance

Return type
form_990
Tax year
2022
Filed
14 November 2023
IRS schema version
2022v5.0
Source object
202323189349312562

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.