GREAT LAKES WOMEN'S BUSINESS COUNC… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1984

Legal Domicile

Principal Officer

MICHELLE RICHARDS

Phone

7346771400

Tax Period

2024-07-01 to 2025-06-30

GREAT LAKES WOMEN'S BUSINESS COUNCIL, founded in 1984, is a community nonprofit that reported $3.4M in total revenue in fiscal year 2024.

Mission

GREAT LAKES WOMEN'S BUSINESS COUNCIL IS COMMITTED TO EMPOWERING SMALL BUSINESSES ECONOMICALLY THROUGH BUSINESS DEVELOPMENT TRAINING, VENDOR CERTIFICATION, BUSINESS-TO-BUSINESS NETWORKING AND ACCESS TO CAPITAL ASSISTANCE PROGRAMS. WE PROVIDE EFFECTIVE BUSINESS TOOLS AND REMOVE BARRIERS THAT HINDER DEVELOPMENT OF SUCCESSFUL, SUSTAINABLE BUSINESSES. OUR WORK STRENGTHENS THE COMMUNITY BY BUILDING PARTNERSHIPS AND LEVERAGING RESOURCES THAT INCREASE BUSINESS GROWTH OPPORTUNITIES.

Program Service Accomplishments

Program 1

Expenses: $798,665 Revenue: $128,883

LOAN PROGRAM - PROVIDE SMALL BUSINESS LOANS TO START-UP AND EXISTING BUSINESS OWNERS IN SOUTHEASTERN MICHIGAN. PROGRAM ADDRESSES NEEDS OF LOW-INCOME, MINORITY AND WOMEN BUSINESS OWNERS. LOAN...

LOAN PROGRAM - PROVIDE SMALL BUSINESS LOANS TO START-UP AND EXISTING BUSINESS OWNERS IN SOUTHEASTERN MICHIGAN. PROGRAM ADDRESSES NEEDS OF LOW-INCOME, MINORITY AND WOMEN BUSINESS OWNERS. LOAN PORTFOLIO IS FUNDED PRIMARILY BY SBA AND LOCAL GOVERNMENT.

Program 2

Expenses: $1,266,638 Revenue: $893,575

WOMEN'S BUSINESS ENTERPRISE CERTIFICATION - PROVIDES CERTIFICATION PROGRAM FOR WOMEN OWNED BUSINESSES, INCLUDING TECHNICAL ASSISTANCE, COUNSELING AND RECOGNITION OF BUSINESS ACHIEVEMENTS.

Program 3

Expenses: $577,157 Revenue: $4,225

BUSINESS DEVELOPMENT INITIATIVES - PROVIDE COMPREHENSIVE TRAINING, TECHNICAL ASSISTANCE AND PEER GROUP COUNSELING FOR WOMEN, LOAN RECIPIENTS, AND OTHER INDIVIDUALS WHO DESIRE TO START A SMALL...

BUSINESS DEVELOPMENT INITIATIVES - PROVIDE COMPREHENSIVE TRAINING, TECHNICAL ASSISTANCE AND PEER GROUP COUNSELING FOR WOMEN, LOAN RECIPIENTS, AND OTHER INDIVIDUALS WHO DESIRE TO START A SMALL BUSINESS.

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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%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $2,314,174

Program Service Revenue $1,026,683

Investment Income $9,384

Other Revenue $0

TOTAL REVENUE $3,350,241

Expense Breakdown

Grants Paid $26,000

Salaries & Benefits $1,780,441

Fundraising Expenses $53,805

Program Expenses $2,676,976

Other Expenses $1,529,776

TOTAL EXPENSES $3,336,217

Year-over-Year Comparison

	2024	2023	Change
Revenue	$3,350,241	$3,175,104	+0.1%
Expenses	$3,336,217	$3,654,137	-0.1%
Net Income	$14,024	$-479,033	-1.0%

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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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

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

$266,799

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ALFRED A PATRICK	DIRECTOR (LEFT APRIL 2025)	2.00	Director	$0	$0	$0
ANAND KUMAR	DIRECTOR	2.00	Director	$0	$0	$0
ANNE ARISTEO MARTINELLI	TREASURER	4.00	Officer Director	$0	$0	$0
APRIL DIEZ	DIRECTOR	2.00	Director	$0	$0	$0
BRE MILLS	DIRECTOR	2.00	Director	$0	$0	$0
CHARLENE SHAYA	DIRECTOR	2.00	Director	$0	$0	$0
COURTNEY STEWARD	SECRETARY	4.00	Officer Director	$0	$0	$0
DENICE OLSON	DIRECTOR	2.00	Director	$0	$0	$0
DENISE BOOMS-PEPIN	DIRECTOR	2.00	Director	$0	$0	$0
LISA HARDIN	PRESIDENT	4.00	Officer Director	$0	$0	$0
LOLITA LENOIR	DIRECTOR	2.00	Director	$0	$0	$0
LYNN GARRISON	DIRECTOR	2.00	Director	$0	$0	$0
MANUEL FENANDEZ GONZALEZ	DIRECTOR	2.00	Director	$0	$0	$0
MARCIA BARNES	DIRECTOR	2.00	Director	$0	$0	$0
MARCIA HUNTER	DIRECTOR	2.00	Director	$0	$0	$0
ROSHUNDA PRICE	VICE PRESIDENT	4.00	Officer Director	$0	$0	$0
SHERRY DICCION	DIRECTOR	2.00	Director	$0	$0	$0
STEPHANIE OSTERLAND	DIRECTOR (LEFT APRIL 2025)	2.00	Director	$0	$0	$0
TAMARA HICKS	DIRECTOR	2.00	Director	$0	$0	$0
MICHELLE RICHARDS	EXECUTIVE DIRECTOR	50.00	Officer	$218,042	$48,757	$266,799

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	$3,350,241	$3,336,217	$4,743,859	$14,024
2024	$3,175,104	$3,654,137	$5,083,480	$-479,033
2023	$4,090,105	$3,471,086	$5,378,056	$619,019
2022	$2,702,361	$2,713,360	$4,549,211	$-10,999
2021	$2,474,247	$2,097,474	$3,943,719	$376,773
2020	$2,673,866	$2,577,255	$3,652,665	$96,611
2019	$2,081,668	$2,504,016	$3,303,483	$-422,348
2018	$3,218,508	$2,555,970	$3,482,927	$662,538

GREAT LAKES WOMEN'S BUSINESS COUNCIL