2024-12-10T11:22:05-06:00 2024-06-30 341873282 CBIZ ADVISORS LLC 222 SOUTH 9TH STREET SUITE 1000 MINNEAPOLIS MN 55402 990 2023-07-01 411463426 WOMENVENTURE WOME 6122249540 165 WESTERN AVENUE N STE 8 100 ST PAUL MN 55102 LEEANN RASACHAK CHIEF EXECUTIVE OFFICER 6122249540 2024-12-04 1 0 BRUCE THIEL P00526510 6123397811 2024-12-04 2023 2024-10-15 13:58:12Z LEEANN RASACHAK 165 WESTERN AVENUE N STE 8 100 ST PAUL MN 55102 4364285 0 X WWW.WOMENVENTURE.ORG X 1983 MN BUSINESSES THAT TRANSFORM COMMUNITIES. 18 18 39 86 0 0 3320663 3899197 270595 293897 1793 34063 -37757 -8509 3555294 4218648 212500 537412 0 0 2505743 2559476 0 0 439013 702311 980403 3420554 4077291 134740 141357 6757859 7545689 3819456 4462371 2938403 3083318 X TO EMPOWER WOMEN TO ACHIEVE THEIR ECONOMIC GOALS BY BUILDING PROFITABLE AND SUSTAINABLE BUSINESSES THAT TRANSFORM COMMUNITIES. 0 0 1154384 121429 34649 ENTREPRENEURSHIP - SEE SCHEDULE O. 1766173 415983 259248 LENDING - SEE SCHEDULE O. 2920557 1 1 0 1 0 0 0 0 0 1 1 0 1 0 1 1 1 0 0 0 0 0 0 0 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 19 0 1 39 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 18 18 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MN X X LEEANN RASACHAK 6122249540 165 WESTERN AVENUE N STE 8 100 ST PAUL MN 55102 KRISTEN DENZER CHAIR 1.00 X X 0 0 0 RHONDA SKOBY SECRETARY 1.00 X X 0 0 0 SARA KAUFMAN TREASURER 1.00 X X 0 0 0 AJ AUSTERMAN BOARD MEMBER 1.00 X 0 0 0 AIMEE STOLT BOARD MEMBER 1.00 X 0 0 0 ANNA DOSEN-HICKS BOARD MEMBER 1.00 X 0 0 0 BABETTE BUCKNER BOARD MEMBER 1.00 X 0 0 0 CHAZ SANDIFER BOARD MEMBER 1.00 X 0 0 0 DEREK BURGESS BOARD MEMBER 1.00 X 0 0 0 GEMMA KUBAT BOARD MEMBER 1.00 X 0 0 0 JESSI MILLER BOARD MEMBER 1.00 X 0 0 0 NICOLE DUNHAM BOARD MEMBER 1.00 X 0 0 0 PANG XIONG BOARD MEMBER 1.00 X 0 0 0 REBECCA COOPER BOARD MEMBER 1.00 X 0 0 0 ROBYN SAPHIR BOARD MEMBER 1.00 X 0 0 0 LISA KRAMER RODACKER BOARD MEMBER 1.00 X 0 0 0 MARIA KOCHIRAS BOARD MEMBER 1.00 X 0 0 0 NELIMA SITATI MUNENE BOARD MEMBER 1.00 X 0 0 0 LEEANN RASACHAK CHIEF EXECUTIVE OFFICER 40.00 X 193815 0 2308 KARLA DROSS CHIEF FINANCIAL OFFICER 40.00 X 127389 0 20734 EMILY CONROY CHIEF PROGRAM & CLIENT EXPERIENCE OFFICER 40.00 X 124376 0 3944 ROSEMARIE NDUPUECHI CHIEF ADVANCEMENT & MARKETING OFFICER 40.00 X 114927 0 25240 560507 0 52226 4 0 1 0 0 292650 2100063 1506484 3899197 LOAN INTEREST INCOME 522291 207224 207224 LOAN FEE INCOME 522291 51659 51659 TRAINING INCOME 561300 34649 34649 GAIN ON DEBT FORGIVENE 522291 365 365 293897 34063 34063 137805 292650 145637 -7832 -7832 MISCELLANEOUS 561300 -677 -677 -677 4218648 293897 0 25554 415983 415983 121429 121429 385978 197250 103638 85090 1824143 1268119 321744 234280 17353 12107 3603 1643 168741 114769 29319 24653 163261 108893 31217 23151 31078 11574 19504 43260 28712 8308 6240 160714 59685 85685 15344 700 700 46022 13596 29290 3136 183278 122872 41540 18866 88096 58471 16919 12706 12477 8312 4018 147 35694 21867 9456 4371 84158 83324 834 26254 17425 5042 3787 38333 25830 6904 5599 BAD DEBT EXPENSE 214785 214785 PROGRAM EVENT 15554 15554 4077291 2920557 717721 439013 722073 1027184 1896457 1648437 820046 941597 65314 133189 61148 39174 40523 21974 29618 33176 3016003 3655036 167825 85096 6757859 7545689 145012 196779 89594 120477 797544 698309 2579536 3339261 207770 107545 3819456 4462371 X 2669641 2533786 268762 549532 2938403 3083318 6757859 7545689 141357 3558 0 X 0 1 X 1 1 1 X 1610043 7315211 8292156 3320663 3899197 24437270 1610043 7315211 8292156 3320663 3899197 24437270 590510 23846760 15013 9325 560 3508 34063 62469 24499739 1513669 0.97330 0.97530 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 44000 44000 4033291 4077291 353865 88466 0 0 509067 518417 321028 353865 1702377 2553566 63000 44000 107000 127267 129604 80257 88466 425594 638391 29618 3808 250 33176 28900 718 29618 30865 -1707 258 28900 23013 8086 234 30865 23165 73 225 23013 1.00000 1 0 61148 39174 21974 21974 PROGRAM LOANS RECEIVABLE 3655036 C 3655036 FINANCE LEASE LIABILITIES 22449 OPERATING LEASE LIABILITIES 85096 107545 X 4410042 3558 187836 191394 4218648 0 4218648 4265127 187836 187836 4077291 0 4077291 PART V, LINE 4: THIS IS A PERMANENT ENDOWMENT TO SUPPORT THE PROGRAMS OF WOMENVENTURE. INVESTMENT GAINS ON THE ENDOWMENT MAY BE USED TO CARRY OUT THE GENERAL CHARITABLE PURPOSE OF WOMENVENTURE. PART X, LINE 2: THE ORGANIZATION FOLLOWS THE ACCOUNTING STANDARDS FOR CONTINGENCIES IN EVALUATING UNCERTAIN TAX POSITIONS. THIS GUIDANCE PRESCRIBES RECOGNITION THRESHOLD PRINCIPLES FOR THE FINANCIAL STATEMENT RECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN THAT ARE NOT CERTAIN TO BE REALIZED. NO LIABILITY HAS BEEN RECOGNIZED BY THE ORGANIZATION FOR UNCERTAIN TAX POSITIONS. WOMEN MEAN BUSINESS 379330 292650 86680 5300 57645 8000 51397 GET FUNDED 51125 51125 600 1500 21195 430455 292650 137805 5300 58245 9500 72592 145637 -7832 1 ROOTS MIDWIFERY LLC 1901 44TH AVE N MINNEAPOLIS MN 55412 462294139 415983 0 ROOTS BIRTH CENTER EXPANSION 0 1 CHILD CARE GRANTS 25 121429 PART I, LINE 2: WOMENVENTURE MONITORS THE USE OF GRANT FUNDS BY ESTABLISHING CLEAR POLICIES AND PROCEDURES, MAINTAINING DETAILED DOCUMENTATION, AND COMMUNICATING WITH GRANTORS, IF NECESSARY, TO ENSURE EXPENDITURES ALIGN WITH THE GRANT OBJECTIVES, ALL WHILE ADHERING TO COMPLIANCE REGULATIONS. ONCE APPROVED, ALL EXPENSES ARE CHARGED TO A GRANT WITHIN OUR ACCOUNTING SYSTEM. X X 0 0 0 0 0 0 0 0 0 LEEANN RASACHAK CHIEF EXECUTIVE OFFICER 193815 0 0 0 0 0 2308 0 0 0 196123 0 0 0 FORM 990, PART III, LINE 4A ENTREPRENEURSHIP: WOMEN'S BUSINESS CENTER - THE WOMEN'S BUSINESS CENTER (WBC) AT WOMENVENTURE IS ONE OF TWO WBCS IN MINNESOTA. WBCS ARE PART OF A NETWORK OF NEARLY 100 EDUCATIONAL CENTERS DESIGNATED BY THE U.S. SMALL BUSINESS ADMINISTRATION (SBA) TO LEVEL THE PLAYING FIELD FOR WOMEN ENTREPRENEURS WHO FACE UNIQUE OBSTACLES IN THE WORLD OF BUSINESS. WBCS ENSURE THAT RESOURCES LIKE SMALL BUSINESS DEVELOPMENT CLASSES AND CONSULTING ARE AVAILABLE TO ALL WOMEN ENTREPRENEURS AND SPECIFICALLY THOSE WHO ARE ECONOMICALLY OR SOCIALLY DISADVANTAGED. WOMENVENTURE IS EASILY ACCESSIBLE BY BUS AND OFFERS SCHOLARSHIPS FOR CLASSES AND SERVICES TO QUALIFYING CLIENTS. TRAINING - WOMENVENTURE SUPPORTS ENTREPRENEURS WITH A VARIETY OF CLASSES, WORKSHOPS AND SEMINARS, INCLUDING LEVELS FOR STARTUP, EMERGING, AND GROWING BUSINESSES. KEY MULTIPART SERIES INCLUDE GETTING READY, WHERE CLIENTS DETERMINE IF ENTREPRENEURSHIP IS RIGHT FOR THEM; SMALL BUSINESS ESSENTIALS, A 5 SESSION COURSE THAT COVERS ALL OF THE CRITICAL COMPONENTS OF CREATING AND FINE-TUNING A BUSINESS PLAN TO LAUNCH THEIR ENTREPREEURIAL ENDEAVORS WITH CONFIDENCE; AND LAUNCHED & GROWING, A 10 SESSION COURSE DESIGNED TO SUPPORT ENTREPRENEURS IN THE EARLY STAGES OF OPERATION. OTHER OFFERINGS FOCUS ON SPECIALIZED TOPICS SUCH AS LEGAL STRUCTURE, WEBSITE DEVELOPMENT, AND HUMAN RESOURCE MANAGEMENT. WOMENVENTURE ALSO FOCUSES ON CHILD CARE BUSINESS - BOTH FAMILY CHILD CARE AND CHILD CARE CENTERS. TECHNICAL ASSISTANCE - BUSINESS CONSULTANTS ASSIST CLIENTS IN EVALUATING NEW BUSINESS CONCEPTS, BUSINESS AND FINANCIAL PLANNING, FINANCING, LOAN PACKAGING, ACCOUNTING SERVICES, MARKETING, AND SPECIFIC CHALLENGES FACING THEIR SMALL BUSINESS. THE BUSINESS CONSULTING STAFF AND VOLUNTEERS AT WOMENVENTURE HAVE A WIDE RANGE OF EXPERIENCE WORKING WITH SMALL BUSINESSES AND OFFER VALUABLE KNOWLEDGE AND INSIGHT UNIQUE TO WOMEN BUSINESS OWNERS. IN FISCAL YEAR ENDING JUNE 30, 2024, WOMENVENTURE SERVED 1,157 ESTABLISHED AND EMERGING ENTREPRENEURS: 89% WERE WOMEN, 48% LOW-INCOME; AND 51% WERE BIPOC. FORM 990, PART III, LINE 4B LENDING: MICROLOANS - WOMENVENTURE IS AN SBA LOAN PROVIDER OFFERING BUSINESS LOANS UP TO $100,000 TO QUALIFIED BORROWERS TO START OR EXPAND SMALL BUSINESSES. WOMENVENTURE'S LOAN STAFF GUIDES APPLICANTS THROUGH THE PROCESS TO DETERMINE READINESS AND QUALIFICATIONS. OTHER CAPITAL AND TECHNICAL ASSISTANCE - SOURCES INCLUDE FUNDS FROM THE MINNESOTA DEPARTMENT OF EMPLOYMENT AND ECONOMIC DEVELOPMENT (DEED), SBA, COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS (CDFI), PRIVATE FOUNDATIONS AND THE CITY OF MINNEAPOLIS. WOMENVENTURE DEPLOYED 59 LOANS TOTALING $2,133,500 OF WHICH 53 WERE TO 33 NEW CLIENTS. FORM 990, PART VI, SECTION B, LINE 11B THE ORGANIZATION WORKS CLOSELY WITH AN OUTSIDE PAID PREPARER WHO IS EXPERIENCED WITH FORM 990. THE ORGANIZATION'S CFO AND FINANCIAL MANAGER PROVIDE THE PREPARER WITH FULL INFORMATION AND CLOSELY REVIEW THE RETURN PRIOR TO GOING TO FINAL DRAFT. THE PAID PREPARER WALKS THROUGH THE 990 WITH THE FINANCE COMMITTEE AND TAKES QUESTIONS. THEREAFTER, THE FINANCE COMMITTEE APPROVES THE FORM, WITH MINOR CHANGES, AND RECOMMENDS TO THE BOARD FOR APPROVAL. THE BOARD REVIEWS AND APPROVES, AUTHORIZING THE CEO TO SIGN THE FORM. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD AND STAFF MAKE ANNUAL DECLARATIONS OF ANY CONFLICTS OF INTEREST WHEN CONFLICTS ARISE DURING THE YEAR, THE INTERESTED PERSON IS TO REPORT THE CONFLICT TO THE BOARD CHAIR OR THE BOARD CHAIR'S DESIGNEE. THE BOARD CHAIR, OR THE BOARD CHAIR'S DESIGNEE, DECLARES IF IT IS IN FACT A CONFLICT. DURING THE DISCUSSION OF THE TRANSACTION OR AGREEMENT IN QUESTION, THE INTERESTED BOARD MEMBER IS REMOVED FROM THE ROOM. THAT BOARD MEMBER ALSO MUST ABSTAIN FROM VOTING. FORM 990, PART VI, SECTION B, LINE 15 WOMENVENTURE USES THE MINNESOTA COUNCIL OF NONPROFITS SALARY SURVEY WHEN DETERMINING COMPENSATION FOR TOP MANAGEMENT OFFICIALS AND KEY EMPLOYEES. THE CHIEF EXECUTIVE OFFICER'S SALARY IS REVIEWED BY THE FULL BOARD ANNUALLY; THE BOARD CHAIR HAS A DIRECTIVE TO REVIEW MARKET COMPENSATION AND MAKE RECOMMENDATIONS. THIS WAS COMPLETED IN JANUARY 2023. THE CHIEF FINANCIAL OFFICER'S COMPENSATION IS DETERMINED BY THE CHIEF EXECUTIVE OFFICER'S BASED ON REVIEW OF MARKET COMPENSATION RATES. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS ARTICLES OF INCORPORATION, BYLAWS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.