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Nonprofiteer
← WOMENS BUSINESS ENTERPRISE CENTER EAST

Form 990 for tax year 2022

Filed by WOMENS BUSINESS ENTERPRISE CENTER EAST.

Totals

Total revenue
$1,768,887
Total expenses
$1,744,254
Contributions and grants received
$771,449
Grants paid
$0
Program service revenue
$1,014,831
Investment income
$1,777
Other revenue
-$19,170
Total assets, end of year
$2,175,815
Total liabilities, end of year
$1,058,190
Net assets or fund balances, end of year
$1,117,625
Program services expenses (Part IX)
$1,407,377
Management and general expenses
$320,551
Fundraising expenses
$16,326
Program service expenses (Part III)
$1,407,377

Program services were 80.7% 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.

  • 1b · Membership dues

    $165,620

  • 1c · Fundraising events

    $78,150

  • 1e · Government grants (contributions)

    $150,000

  • 1f · All other contributions, gifts and grants

    $377,679

  • 2a · Program service revenue: CERTIFICATION FEES

    total $932,005 · related or exempt $932,005

  • 2b · Program service revenue: SCHOLARSHIP CONTRIBUTI

    total $44,666 · related or exempt $44,666

  • 2c · Program service revenue: TRAINING FEES

    total $21,219 · related or exempt $21,219

  • 2d · Program service revenue: PROGRAM EVENT INCOME

    total $16,941 · related or exempt $16,941

  • 3 · Investment income

    total $1,777 · excluded $1,777

  • 8a · Fundraising events: gross income

    $26,355

  • 8a · Fundraising events: contributions included on line 1c

    $78,150

  • 8b · Fundraising events: direct expenses

    $53,858

  • 8c · Net income from fundraising events

    total -$27,503 · excluded -$27,503

  • 11a · Other revenue: BAD DEBT RECOVERY

    total $8,333 · excluded $8,333

  • 11e · Other revenue, total

    $8,333

Functional expenses

Part IX, the statement of functional expenses.

  • 6 · Compensation of disqualified persons

    total $857,167 · program services $683,321 · management and general $173,846

  • 8 · Pension plan contributions

    total $133,929 · program services $120,292 · management and general $13,637

  • 10 · Payroll taxes

    total $68,323 · program services $54,670 · management and general $13,653

  • 11c · Fees: accounting

    total $218,899 · program services $183,700 · management and general $35,199

  • 11g · Fees: other

    total $85,084 · program services $68,384 · management and general $16,700

  • 12 · Advertising and promotion

    total $9,746 · program services $5,853 · fundraising $3,893

  • 13 · Office expenses

    total $31,233 · program services $9,694 · management and general $21,539

  • 14 · Information technology

    total $41,190 · program services $36,804 · management and general $1,249 · fundraising $3,137

  • 16 · Occupancy

    total $116,049 · program services $93,582 · management and general $22,467

  • 17 · Travel

    total $27,671 · program services $23,511 · management and general $4,160

  • 19 · Conferences, conventions and meetings

    total $125 · program services $125

  • 22 · Depreciation, depletion and amortization

    total $17,883 · program services $14,325 · management and general $3,558

  • 23 · Insurance

    total $7,597 · program services $6,091 · management and general $1,506

  • 24a · Other expenses: MERCHANT FEES

    total $37,384 · program services $35,120 · management and general $428 · fundraising $1,836

  • 24b · Other expenses: PROGRAM MATERIALS

    total $34,569 · program services $26,582 · management and general $527 · fundraising $7,460

  • 24c · Other expenses: SCHOLARSHIP AWARDS

    total $20,000 · program services $20,000 · management and general $0 · fundraising $0

  • 24d · Other expenses: EVENT SPACE RENTAL

    total $11,819 · program services $11,819 · management and general $0 · fundraising $0

  • 24e · All other expenses

    total $25,586 · program services $13,504 · management and general $12,082

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $137,399 · end of year $183,684

  • 2 · Savings and temporary cash investments

    beginning of year $1,072,870 · end of year $971,179

  • 3 · Pledges and grants receivable

    beginning of year $117,416 · end of year $150,490

  • 9 · Prepaid expenses and deferred charges

    beginning of year $62,166 · end of year $44,194

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

    $116,352

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

    $63,284

  • 10c · Land, buildings and equipment, net

    beginning of year $74,835 · end of year $53,068

  • 15 · Other assets

    beginning of year $36,758 · end of year $773,200

  • 17 · Accounts payable and accrued expenses

    beginning of year $219,921 · end of year $163,082

  • 19 · Deferred revenue

    beginning of year $188,531 · end of year $122,341

  • 25 · Other liabilities

    beginning of year $0 · end of year $772,767

  • 27 · Net assets without donor restrictions

    beginning of year $1,078,917 · end of year $1,085,184

  • 28 · Net assets with donor restrictions

    beginning of year $14,075 · end of year $32,441

Mission and programs · 2022

Mission

WBEC-EAST IS DEDICATED TO THE ECONOMIC EMPOWERMENT OF WOMEN BY PROVIDING THE MOST RELIED UPON STANDARD FOR CERTIFICATION OF WOMEN-OWNED BUSINESSES, WORLD-CLASS ENTREPRENEURIAL TRAINING AND EDUCATION, TOOLS AND NETWORKING OPPORTUNITIES TO DEVELOP AND GROW SUCCESSFUL BUSINESSES. FORMED IN 1995, WBEC-EAST HAS FOSTERED AND DEVELOPED HUNDREDS OF BUSINESSES BY OFFERING A COMPREHENSIVE MENU OF ENTREPRENEURIAL EDUCATION, TRAINING, ACCESS TO CAPITAL AND WOMEN'S BUSINESS ENTERPRISE (WBE) CERTIFICATION. IN THE PAST YEAR ALONE WBEC-EAST HAS PROVIDED 250+ EDUCATIONAL AND NETWORKING OPPORTUNITIES TO 3000+ WOMEN BUSINESS START-UPS AND OWNERS. WBEC-EAST FACILITATES RELATIONSHIPS AND PROCUREMENT OPPORTUNITIES FOR WOMEN-OWNED BUSINESSES AND CORPORATIONS WITH SUPPLIER DIVERSITY INITIATIVES. WBEC-EAST SERVES A BROAD SPECTRUM OF WOMEN FROM ALL SOCIO-ECONOMIC BACKGROUNDS INCLUDING ASPIRING MICRO-ENTREPRENEURS TO OWNERS OF MULTI-GENERATION ESTABLISHED WOMEN-OWNED COMPANIES.

Activities or mission (Part I)

TO FOSTER THE DEVELOPMENT AND RETENTION OF SUCCESSFUL WOMEN-OWNED BUSINESSES. ALSO, TO FACILITATE THE RELATIONSHIP BETWEEN CORPORATIONS, GOVERNMENTS AND WOMEN-OWNED BUSINESSES TO PROVIDE GROWTH AND SUSTAINABILITY.

  • WBEC-EAST PROVIDES START UP, EMERGING AND ESTABLISHED ENTREPRENEUR'S VIRTUAL EDUCATION AND TRAINING WORKSHOPS TO BECOME SUCCESSFUL. THESE EDUCATION AND TRAINING WORKSHOPS INCLUDE: MARKET RESEARCH, FINANCIAL ANALYSIS, BUSINESS PLANNING, BUSINESS COACHING ETC.

    Expenses $271,114 · Revenue $62,826

  • WBEC-EAST THROUGH ITS PARTNERSHIP WITH WOMEN'S BUSINESS ENTERPRISE NATIONAL COUNCIL ("WBENC") PROVIDES CERTIFICATIONS TO WOMEN-OWNED BUSINESSES. THESE CERTIFICATIONS ARE USED AS A MARKETING TOOL FOR EXPANDING A COMPANY'S VISIBILITY AND ACCESS TO DECISION MAKERS IN SUPPLIER DIVERSITY AND PROCUREMENT OFFICES.

    Expenses $1,116,263 · Revenue $932,005

  • WBEC-EAST SOLICITS FUNDS THAT ARE DEDICATED TO INTERNAL SCHOLARSHIP AND GRANTS. SCHOLARSHIPS AND GRANTS ARE ISSUED TO OFFSET FEES TO ATTEND VARIOUS ENTREPRENEURIAL TRAINING PROGRAMS FOR WOMEN STARTING OR GROWING THEIR BUSINESS. RECIPIENTS OF THESE FUNDS ARE ADVISED OF THE BENEFACTOR.

    Expenses $20,000 · Revenue $44,666

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

Listed in Part VII

  • George Ehrgott

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Nancy Gunza CPA

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Cecilia Isaacs-Blundin

    CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Cynthia Funaro Towers Esq

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Vernice Lewis

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Liv Carter

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Allen Riddick

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Dale Buddine

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Elizabeth Walsh

    PRESIDENT

    Total calculated
    $256,440
    From this org
    $213,117
    From related orgs
    $0
    Other
    $43,323
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $213,117
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $43,323
    Filer's total
    $256,440

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

  • 2 · Substantiation required before reimbursing expenses
  • 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

The filer's explanations (Part III)

PART I, LINE 3
THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS MEETS AND DISCUSSES COMPENSATION OF THE PRESIDENT.

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

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
9 November 2023
IRS schema version
2022v5.0
Source object
202343219349301229

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