WOMEN'S BUSINESS DEVELOPMENT CENTER

EIN: 363488628 501(c)(3)

CHICAGO, IL

Total Revenue
$15,218,918
Total Expenses
$16,280,164
Total Assets
$8,948,495
Net Assets
$7,200,536
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1986
Legal Domicile
IL
Principal Officer
ERICA KUHLMANN
Phone
3128533477
Tax Period
2024-07-01 to 2025-06-30

WOMEN'S BUSINESS DEVELOPMENT CENTER, founded in 1986, is a mid-sized nonprofit that reported $15.2M in total revenue in fiscal year 2024. Revenue fell 77% from the prior year — a significant decline worth monitoring.

Mission

THE MISSION OF THE WOMEN'S BUSINESS DEVELOPMENT CENTER (WBDC) IS TO SUPPORT AND ACCELERATE BUSINESS DEVELOPMENT AND GROWTH, SERVING ALL BUSINESS OWNERS TO STRENGTHEN THEIR PARTICIPATION IN, AND IMPACT ON, THE ECONOMY.

Program Service Accomplishments

Program 1
Expenses: $9,296,552 Revenue: $13,703

THE ACCESS TO CAPITAL PROGRAM FOCUSES ON HELPING BUSINESS OWNERS DEVELOP A BETTER UNDERSTANDING OF THEIR BUSINESS FINANCES BY PROVIDING FINANCIAL ASSESSMENT AND COUNSELING, LOAN APPLICATION...

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THE ACCESS TO CAPITAL PROGRAM FOCUSES ON HELPING BUSINESS OWNERS DEVELOP A BETTER UNDERSTANDING OF THEIR BUSINESS FINANCES BY PROVIDING FINANCIAL ASSESSMENT AND COUNSELING, LOAN APPLICATION ASSISTANCE AS WELL AS EQUITY OPTIONS, AND DIRECT LENDING. ADDITIONALLY, ON BEHALF OF VARIOUS GOVERNMENT AGENCIES, THE WBDC ADMINISTERED GOVERNMENT PANDEMIC RELIEF PROGRAMS. IN TOTAL, 1,435 PERSONS SERVED DURING FISCAL YEAR.

Program 2
Expenses: $1,544,358

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...

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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. 3,204 PERSONS SERVED DURING FISCAL YEAR.

Program 3
Expenses: $1,365,972 Revenue: $1,868,309

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...

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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). 2,616 PERSONS CERTIFIED DURING FISCAL YEAR.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $13,107,298
Program Service Revenue $1,960,497
Investment Income $151,123
Other Revenue $0
TOTAL REVENUE $15,218,918

Expense Breakdown

Grants Paid $5,884,199
Salaries & Benefits $4,948,286
Fundraising Expenses $355,957
Program Expenses $14,269,703
Other Expenses $5,447,679
TOTAL EXPENSES $16,280,164

Year-over-Year Comparison

2024 2023 Change
Revenue $15,218,918 $64,780,073 -0.8%
Expenses $16,280,164 $63,424,693 -0.7%
Net Income $-1,061,246 $1,355,380 -1.8%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Governance

Voting Members
22
Independent Members
19
Employees
52
Volunteers
31

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
12
$320,669
Total Directors
22
$345,669
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
EMILIA DIMENCO PRESIDENT & CHIEF EXEC (OUTGOING) 40.00
Officer Director
$313,684 $6,985 $320,669
HEDY M RATNER CO-FOUNDER & CO-PRESIDENT 10.00
Director
$25,000 $0 $25,000
SANDRA RAND CHAIR 3.00
Officer Director
$0 $0 $0
EVA BROWN 1ST VICE CHAIR 2.00
Officer Director
$0 $0 $0
MICHELLE BLAISE 2ND VICE CHAIR 2.00
Officer Director
$0 $0 $0
ALISON CHUNG SECRETARY 2.00
Officer Director
$0 $0 $0
CASSANDRA SANFORD ASSISTANT SECRETARY 2.00
Officer Director
$0 $0 $0
RISA R DAVIS TREASURER 2.00
Officer Director
$0 $0 $0
MARY HOUPT ASSISTANT TREASURER 2.00
Officer Director
$0 $0 $0
BETH KIEFFER LEONARD CPA AUDIT COMMITTEE CHAIR 2.00
Officer Director
$0 $0 $0
RONA FOURTE AUDIT COMMITTEE VICE CHAIR 2.00
Officer Director
$0 $0 $0
DEBRA JENNINGS-JOHNSON EX-OFFICIO 2.00
Officer Director
$0 $0 $0
ERICA KUHLMANN PRESIDENT & CHIEF EXEC 40.00
Officer Director
$0 $0 $0
S CAROL DOUGAL CO-FOUNDER & CO-PRESIDENT 1.00
Director
$0 $0 $0
LAUREL G BELLOWS GOVERNANCE AND NOM COMM CHAIR 2.00
Director
$0 $0 $0
PATTY GREENE DIRECTOR 2.00
Director
$0 $0 $0
MICHELLE KANTOR DIRECTOR 2.00
Director
$0 $0 $0
ARABEL ALVA ROSALES DIRECTOR 2.00
Director
$0 $0 $0
JENNIFER ROUZAN DIRECTOR 2.00
Director
$0 $0 $0
AMY YUHN FUNDRAISING COMM CHAIR 2.00
Director
$0 $0 $0
LINDA CHAPLIK HARRIS DIRECTOR 1.00
Director
$0 $0 $0
LINDA BOASMOND DIRECTOR 1.00
Director
$0 $0 $0
ROXANNE WARD VICE PRESIDENT 40.00
Highest
$136,466 $13,027 $149,493
GEORGIA MARSH CHIEF DEVELOPMENT OFFICER 40.00
Highest
$125,577 $5,797 $131,374
CLARK MCCAIN MANAGING DIR STRATEGIC PARTNERSHIPS 40.00
Highest
$109,109 $18,184 $127,293
BLANCA BERTHIER MANAGING DIR ENT BUS PROG AND SVCS 40.00
Highest
$110,062 $15,663 $125,725
MAURA MITCHELL MANAGING DIR ENT BUS PROG AND SVCS 40.00
Highest
$105,839 $17,849 $123,688
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 $15,218,918 $16,280,164 $8,948,495 $-1,061,246
2024 $64,780,073 $63,424,693 $10,230,080 $1,355,380
2023 $14,903,762 $14,221,901 $35,543,569 $681,861
2022 $10,552,420 $9,181,288 $7,048,697 $1,371,132
2021 $38,492,133 $36,812,124 $6,715,757 $1,680,009
2020 $5,994,897 $5,591,640 $4,233,448 $403,257
2019 $4,532,039 $4,262,977 $2,998,643 $269,062
2018 $4,360,537 $4,455,785 $2,779,265 $-95,248
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