Womens Business Development Center
501(c)(3) Donations tax-deductible
97% goes to programs $0 to raise $100 Growing revenue
Womens Business Development Center is a 501(c)(3) organization based in Chicago, Illinois, registered in 1987, with $64,780,073 in FY2023 revenue. CharityIndex grades it A, and it directs about 97% of spending to programs.
8 S Michigan Ave Ste 400, Chicago, IL, 60603 EIN 36-3488628 Since 1987
Revenue (FY2023)
$64.8M
▲ 334.7% vs prior year
Expenses (FY2023)
$63.4M
Net assets
$8.3M
Employees
50
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A
A+Program efficiency40% of the rating97% to programs · $0 to raise $100
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For Womens Business Development Center: 97% to programs · $0 to raise $100 earns a A+ on this criterion. See the exact thresholds →
BFinancial health25% of the rating2 mo reserves · +2% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Womens Business Development Center: 2 mo reserves · +2% margin earns a B on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Womens Business Development Center: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
A+Transparency10% of the rating5 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Womens Business Development Center: 5 of 5 disclosure signals earns a A+ on this criterion. See the exact thresholds →
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A live seal — it updates automatically when the grade changes and links donors to this verified profile.
Mission
To support and accelerate business development and growth, serving all business owners to strengthen their participation in, and impact on, the economy.
What they do
The established business program serves established businesses who would like to grow their business and build capacity. services include workshops, certification services, assistance with corporate and government contracting, and business advising. 2,372 persons served during fiscal year.
The emerging business program serves individuals who want to start a business or are in the early stages of growing their business by providing business development counseling and workshops. 1,951 persons served during fiscal year.
The wbdc provides women's business enterprise (wbe) certification to women-owned businesses in a nine state midwest region through a partnership with the women's business enterprise national council (wbenc). 2,492 persons certified during fiscal year.
Contact & location
Financial trends
Revenue grew from $4.2M (FY2015) to $64.8M (FY2023) across 9 reported years.
Financial snapshot
Financial health & position (FY2023)
Liabilities $2.0MNet assets $8.3M
Operating margin
2.1%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$10.2M
Total liabilities
$2.0M
Net assets
$8.3M
Salaries & benefits
$4.7M
7% of expenses
Board members
21
19 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2023 | $64,780,073▲335% | $63,424,693▲346% | $8,261,782▲19.6% | $10,230,080▼71.2% | 990 |
| 2022 | $14,903,762▲41.2% | $14,221,901▲54.9% | $6,906,402▲11.0% | $35,543,569▲404% | 990 |
| 2021 | $10,552,420▼72.6% | $9,181,288▼75.1% | $6,224,541▲28.3% | $7,048,697▲5.0% | 990 |
| 2020 | $38,492,133▲542% | $36,812,124▲558% | $4,853,409▲52.9% | $6,715,757▲58.6% | 990 |
| 2019 | $5,994,897▲32.3% | $5,591,640▲31.2% | $3,173,400▲14.6% | $4,233,448▲41.2% | 990 |
| 2018 | $4,532,039▲3.9% | $4,262,977▼4.3% | $2,770,143▲10.8% | $2,998,643▲7.9% | 990 |
| 2017 | $4,360,537▲3.6% | $4,455,785▲7.7% | $2,501,081▼3.7% | $2,779,265▼4.3% | 990 |
| 2016 | $4,207,539▲1.2% | $4,138,715▼0.3% | $2,596,329▲2.7% | $2,904,027▲5.4% | 990 |
| 2015 | $4,159,337 | $4,152,475 | $2,527,505 | $2,755,077 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2023)
Highest-paid: Emilia Dimenco — $223,485 (0.35% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Emilia Dimenco | President & Chief Executive | 40 | $223,485 |
| Roxanne Ward | Chief of Staff | 40 | $123,568 |
| Georgia Marsh | Chief Development Officer | 40 | $117,308 |
| Karen Goldner | Managing Dir Established Bus Svcs | 40 | $103,768 |
| Blanca Berthier | Managing Dir Entrepreneurial Svcs | 40 | $103,312 |
| Hedy M Ratner | Co-founder & Co-president | 10 | $51,563 |
| Alison Chung | Secretary | 2 | — |
| Amy Yuhn | Director | 2 | — |
| Arabel Alva Rosales | Director | 2 | — |
| Beth Kieffer Leonard CPA | Audit Committee Chair | 2 | — |
| Cassandra Sanford | Assistant Secretary | 2 | — |
| Debra Jennings-johnson | Ex-officio | 2 | — |
| Eva Brown | 1st Vice Chair | 2 | — |
| Jennifer Mariani | Director - Term | 1 | — |
| Jennifer Schlott-rouzan | Director | 2 | — |
| Laurel G Bellows | Director | 2 | — |
| Linda Boasmond | Director | 2 | — |
| Linda Chaplik Harris | Vice Chair | 2 | — |
| Mary Houpt | Assistant Treasurer | 2 | — |
| Megan Everett | Director - Term | 1 | — |
Top vendors & contractors (FY2023)
| Contractor | Services | Paid |
|---|---|---|
| Next Street Financial LLC | Cook County Program Coordinator | $3,017,250 |
| Ostrow Reisin Berk & Abrams Ltd | Accounting Services | $215,000 |
| Hawthorne Strategy Group | Marketing/grant Work | $104,500 |
Grants received · $23.6M total
23 grants to Womens Business Development Center totaling $23.6M, reported by foundations on their Schedule I filings — showing the 15 most recent.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| Gs Donor Advised Philanthropy Fund For Wealth Management Inc | Community & human services | 2024 | $50,000 |
| Charities Aid Foundation America | Charitable donation | 2024 | $45,000 |
| American Online Giving Foundation Inc | General support | 2024 | $10,147 |
| The Chicago Community Trust | General support for programs, operations and other charitable purposes | 2023 | $240,000 |
| Gs Donor Advised Philanthropy Fund For Wealth Management Inc | Community & human services | 2023 | $50,000 |
| American Online Giving Foundation Inc | General support | 2023 | $18,462 |
| The Chicago Community Trust | Support for scale up program | 2022 | $210,000 |
| Fidelity Investments Charitable Gift Fund | For grant recipient's exempt purposes | 2022 | $102,000 |
| Gs Donor Advised Philanthropy Fund For Wealth Management Inc | Community & human services | 2022 | $50,000 |
| American Online Giving Foundation Inc | General support | 2022 | $10,536 |
| Donor Advised Charitable Giving | Public, societal benefit | 2022 | $6,000 |
| The Chicago Community Trust | In support of its expanding minority business access program planning phase. to support expanding minority business access, emba year three, contribution to provide services. to support and accelerate women's business ownership and strengthen the impact of women on the economy by creating jobs, fueling economic growth, and building strong communities in chicago. in support of the expansion of the scalehigher curriculum into the chicago market and support the businesses participating to learn about and access digital tools to scale their businesses. | 2021 | $870,000 |
| The Chicago Community Trust | In support of its expanding minority business access program planning phase. to support expanding minority business access, emba year three, contribution to provide services. to support and accelerate women's business ownership and strengthen the impact of women on the economy by creating jobs, fueling economic growth, and building strong communities in chicago. in support of the expansion of the scalehigher curriculum into the chicago market and support the businesses participating to learn about and access digital tools to scale their businesses. | 2021 | $870,000 |
| Gs Donor Advised Philanthropy Fund For Wealth Management Inc | Community & human services | 2021 | $50,000 |
| American Online Giving Foundation Inc | General support | 2021 | $10,520 |
Grants made · $51.9M in FY2023
3,016 grants totaling $51.9M in FY2023 — showing the 15 largest. All grants made by Womens Business Development Center →
| Recipient | Purpose | Amount |
|---|---|---|
| Allies For Community Business Inc | Business support organizations providing technical assistance to entrepreneurs. | $309,667 |
| Berwyn Development Corporation | Business support organizations providing technical assistance to entrepreneurs. | $293,567 |
| Illinois Restaurant Association | Business support organizations providing technical assistance to entrepreneurs. | $269,228 |
| Southland Development Authority Nfp | Business support organizations providing technical assistance to entrepreneurs. | $260,328 |
| Mexican American Chamber of Commerce of Illinois Inc | Business support organizations providing technical assistance to entrepreneurs. | $211,570 |
| Chicago Minority Supplier Development Council Inc | Business support organization providing technical assistance to entrepreneurs. | $191,043 |
| Chicago Urban League | Business support organizations providing technical assistance to entrepreneurs. | $137,504 |
| Chicago New Business Nfp | Business support organizations providing technical assistance to entrepreneurs. | $58,541 |
| Devcorp North | Business support organization providing technical assistance to entrepreneurs. | $49,997 |
| Greater Southwest Development Corporation | Business support organization providing technical assistance to entrepreneurs. | $26,761 |
| New Covenant Community Development | Business support organizations (allstate) grants | $25,000 |
| Harmony Community Cares Nfp | Business support organizations (allstate) grants | $25,000 |
| Touch Gift Foundation | Business support organizations (allstate) grants | $25,000 |
| Mestiza LLC | Small business assistance grants - allstate | $25,000 |
| The Pineapple School Company | Small business assistance grants - allstate | $25,000 |
Frequently asked questions
- Is Womens Business Development Center a legitimate nonprofit?
- Yes. Womens Business Development Center is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 36-3488628, based in Chicago, Illinois. Donations are tax-deductible.
- What is Womens Business Development Center's EIN?
- Womens Business Development Center's Employer Identification Number (EIN) is 36-3488628.
- How much revenue does Womens Business Development Center report?
- Womens Business Development Center reported $64,780,073 in total revenue on its fiscal year 2023 IRS Form 990 filing.
- How much of Womens Business Development Center's spending goes to programs?
- Womens Business Development Center spends about 97% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Womens Business Development Center have?
- CharityIndex grades Womens Business Development Center A, based on program efficiency and fundraising cost.
- How much does Womens Business Development Center's highest-paid employee make?
- The highest reported compensation on Womens Business Development Center's latest Form 990 is $223,485, paid to Emilia Dimenco (President & Chief Executive).
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Data for Womens Business Development Center (EIN 36-3488628) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.