2023-10-06T06:55:21-05:00 2023-06-30 341873282 CBIZ MHM LLC 222 SOUTH 9TH STREET SUITE 1000 MINNEAPOLIS MN 55402 990 2022-07-01 411463426 WOMENVENTURE WOME 6122249540 165 WESTERN AVENUE N STE 8 100 ST PAUL MN 55102 LEEANN RASACHAK CHIEF EXECUTIVE OFFICER 6122249540 2023-09-30 1 LEEANN RASACHAK 999009999 0 BRUCE THIEL P00526510 6123397811 2023-09-30 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z LEEANN RASACHAK 165 WESTERN AVENUE N STE 8 100 ST PAUL MN 55102 3706860 0 X WWW.WOMENVENTURE.ORG X 1983 MN TO EMPOWER WOMEN TO ACHIEVE THEIR ECONOMIC GOALS BY BUILDING PROFITABLE AND SUSTAINABLE BUSINESSES THAT TRANSFORM COMMUNITIES. 22 22 51 102 0 0 8292156 3320663 243058 270595 560 1793 -61760 -37757 8474014 3555294 4285000 212500 0 0 2162695 2505743 0 0 132625 920636 702311 7368331 3420554 1105683 134740 7708341 6757859 4905688 3819456 2802653 2938403 X TO EMPOWER WOMEN TO ACHIEVE THEIR ECONOMIC GOALS BY BUILDING PROFITABLE AND SUSTAINABLE BUSINESSES THAT TRANSFORM COMMUNITIES. 0 0 1438731 35389 ENTREPRENEURSHIP - SEE SCHEDULE O. 1418102 212500 235206 LENDING - SEE SCHEDULE O. 2856833 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 1 0 0 0 0 0 0 0 0 1 422 0 51 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 22 22 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MN X X KARLA DROSS 6122249540 165 WESTERN AVENUE N STE 8 100 ST PAUL MN 55102 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 CARLA PAVONE BOARD MEMBER 1.00 X 0 0 0 FAATEMAH AMPEY 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 KRISTEN DENZER BOARD MEMBER 1.00 X 0 0 0 LAURA LONSDALE BOARD MEMBER 1.00 X 0 0 0 LINDSAY BICKLER 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 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 ALYSON VAN DYK SECRETARY 1.00 X X 0 0 0 ARUNA NOOKALA CHAIR 1.00 X X 0 0 0 SARA KAUFMAN TREASURER 1.00 X X 0 0 0 LEEANN RASACHAK CHIEF EXECUTIVE OFFICER 40.00 X 169983 0 0 KARLA DROSS CHIEF FINANCIAL OFFICER 40.00 X 71521 0 3374 241504 0 3374 1 0 1 0 0 270520 2025267 1024876 27360 3320663 LOAN INTEREST INCOME 522291 185604 185604 LOAN FEE INCOME 522291 38343 38343 TRAINING INCOME 561300 35389 35389 GAIN ON DEBT FORGIVENE 522291 11259 11259 270595 3508 3508 23571 25286 -1715 -1715 -1715 79744 270520 126280 -46536 -46536 MISCELLANEOUS 561300 8779 8779 8779 3555294 270595 0 -35964 80500 80500 132000 132000 326206 180313 89257 56636 1873843 1741821 75011 57011 5196 4541 387 268 141596 123808 10244 7544 158902 138836 11842 8224 42512 42512 37380 37380 281690 236311 45310 69 306 306 88339 34404 48543 5392 148553 117850 25882 4821 87666 71373 16293 46836 22332 22845 1659 70178 69442 736 24268 19414 4854 BAD DEBT EXPENSE -125417 -116112 -9305 3420554 2856833 431096 132625 807373 722073 3095552 1896457 657056 820046 22088 65314 90503 49980 64791 40523 27625 28900 29618 3004956 3016003 0 167825 7708341 6757859 164942 145012 303739 89594 715207 797544 3243830 2579536 477970 207770 4905688 3819456 X 2055778 2669641 746875 268762 2802653 2938403 7708341 6757859 134740 1010 0 X 0 1 X 1 1 1 X 1948120 1610043 7315211 8292156 3320663 22486193 1948120 1610043 7315211 8292156 3320663 22486193 519554 21966639 9067 15013 9325 560 3508 37473 22523666 1415252 0.97530 0.96950 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 63000 63000 3357554 3420554 321028 80257 0 0 289140 509067 518417 321028 1637652 2456478 0 0 0 63000 63000 72285 127267 129604 80257 409413 614120 0 0 0 28900 718 29618 30865 -1707 258 28900 23013 8086 234 30865 23165 73 225 23013 23045 337 217 23165 0.00000 1.00000 0.00000 1 0 90503 49980 40523 40523 PROGRAM LOANS RECEIVABLE 3016003 C 3016003 FINANCE LEASE LIABILITIES 39945 OPERATING LEASE LIABILITIES 167825 207770 X 3592050 1010 8386 9396 3582654 -27360 -27360 3555294 3456300 8386 27360 35746 3420554 0 3420554 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 AS OF JUNE 30, 2023 AND 2022. PART XI, LINE 4B - OTHER ADJUSTMENTS: DONATED AUCTION ITEMS -27,360. PART XII, LINE 2D - OTHER ADJUSTMENTS: DONATED AUCTION ITEMS 27,360. WOMEN MEAN BUSINESS 350264 270520 79744 8098 18797 52384 8332 38669 350264 270520 79744 8098 18797 52384 8332 38669 126280 -46536 1 JORDAN TRANSPORT LLC 12780 EDINBROOK PATH APPLE VALLEY MN 55124 832547264 8000 0 OTTO BREMER TRUST BUSINESS GRANTS HOME COMFORT HEATING & AIR LLC 11106 190TH AVE NW ELK RIVER MN 55330 475048909 8000 0 OTTO BREMER TRUST BUSINESS GRANTS KEEFER COURT BAKERY AND CAFE 326 CEDAR AVENUE SOUTH MINNEAPOLIS MN 55454 411449818 8000 0 OTTO BREMER TRUST BUSINESS GRANTS LITTLE FEET BIG STEPS LLC 1981 SILVER BELL RD EAGAN MN 55211 464925253 6000 0 OTTO BREMER TRUST BUSINESS GRANTS STORYTONE CONSULTING LLC 2136 FORD PARKWAY 5420 SAINT PAUL MN 55116 843322516 5500 0 OTTO BREMER TRUST BUSINESS GRANTS THE DANIEL CHRISTIAN ACADEMY 2571 CLARE LANE NE ROCHESTER MN 55906 853168629 5500 0 OTTO BREMER TRUST BUSINESS GRANTS HOUSE OF GRISTLE LLC 1329 ST PAUL AVE 4 SAINT PAUL MN 55116 304905314 6000 0 OTTO BREMER TRUST BUSINESS GRANTS QUEBRACHO LLC 4039 37TH AVENUE SOUTH MINNEAPOLIS MN 55406 653423169 8000 0 OTTO BREMER TRUST BUSINESS GRANTS HOME AWAY FROM HOME CHILD CARE 3315 NEWTON AVE N MINNEAPOLIS MN 55411 832764751 7000 0 OTTO BREMER TRUST BUSINESS GRANTS 9 OTTO BREMER TRUST BUSINESS GRANTS 6 19500 PART I, LINE 2: THE OTTO BREMER TRUST ISSUED THE FOLLOWING GUIDANCE TO DEEM IF THE RECEIVING PARTY QUALIFIED FOR THE DISBURSEMENT OF FUNDS. IN ORDER TO QUALIFY, THE GRANTEE NEEDED TO DEMONSTRATE THAT THEIR BUSINESS WAS OPERATING PRIOR TO APRIL 2020 AND SUFFERED SIGNIFICANT NEGATIVE IMPACT FROM THE COVID-19 PUBLIC HEALTH EMERGENCY AND/OR CIVIL UNREST. WOMENVENTURE REVIEWED EACH APPLICATION FOR ELIGIBILITY. X X 0 0 0 0 0 0 0 0 0 LEEANN RASACHAK CHIEF EXECUTIVE OFFICER 154983 0 15000 0 0 0 0 0 0 0 169983 0 0 0 X DONATION ITEMS FOR WMB EVENT 14 27360 FAIR MARKET VALUE 0 0 0 PART I, COLUMN (B): PART I REPORTS THE NUMBER OF CONTRIBUTIONS 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 19-WEEK SERIES THAT COVERS ALL OF THE CRITICAL COMPONENTS OF CREATING AND FINE-TUNING A BUSINESS PLAN TO GO FROM LAUNCH TO EXPANSION AND BEYOND; AND SCALE UP, A PROGRAM THAT PROVIDES CRITICAL RESOURCES AND SUPPORT TO WOMEN-OWNED, MIDSIZED COMPANIES THAT HAVE AN ESTABLISHED TRACK RECORD AND ARE READY FOR EXPONENTIAL GROWTH. OTHER OFFERINGS FOCUS ON SPECIALIZED TOPICS SUCH AS LEGAL STRUCTURE, WEBSITE DEVELOPMENT, AND HUMAN RESOURCE MANAGEMENT. 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, 2023, WOMENVENTURE SERVED 1,232 ESTABLISHED AND EMERGING ENTREPRENEURS: 88% WERE WOMEN, 52% LOW-INCOME OR VERY LOW-INCOME; AND 52% WERE PEOPLE OF COLOR. 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 54 LOANS TOTALING $1,731,205 OF WHICH 41 WERE TO 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.