WOMEN'S ECONOMIC SELF-SUFFICIENCY TEAM CORP

EIN: 850367809 501(c)(3) Human Services

ALBUQUERQUE, NM

Total Revenue
$9,157,695
Total Expenses
$8,532,140
Total Assets
$11,898,052
Net Assets
$10,128,819
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1988
Legal Domicile
NM
Principal Officer
AGNES NOONAN
Phone
5052466900
Tax Period
2024-01-01 to 2024-12-31

WOMEN'S ECONOMIC SELF-SUFFICIENCY TEAM CORP, founded in 1988, is a community nonprofit in the Human Services sector that reported $9.2M in total revenue in fiscal year 2024. Revenue surged 280% from the prior year, signaling strong growth momentum. Expenses of $8.5M left a modest 7% surplus.

Mission

WESST IS A HOME TO ENTREPRENEURS PROVIDING A SUPPORT SYSTEM OF CONSULTING, TRAINING, INCUBATION, AND LENDING TO HELP NEW MEXICANS STRENGTHEN AND GROW THEIR SMALL BUSINESSES THROUGH SUSTAINABLE BUSINESS MODELS, FINANCIAL EMPOWERMENT, AND JOB CREATION.

Program Service Accomplishments

Program 1
Expenses: $8,024,023 Revenue: $4,842,365

FOUNDED IN 1988, WESST IS COMMITTED TO PROVIDING A SUPPORT SYSTEM OF CONSULTING, TRAINING, INCUBATION, AND LENDING TO HELP NEW MEXICANS STRENGTHEN AND GROW THEIR SMALL BUSINESSES THROUGH SUSTAINABLE...

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FOUNDED IN 1988, WESST IS COMMITTED TO PROVIDING A SUPPORT SYSTEM OF CONSULTING, TRAINING, INCUBATION, AND LENDING TO HELP NEW MEXICANS STRENGTHEN AND GROW THEIR SMALL BUSINESSES THROUGH SUSTAINABLE BUSINESS MODELS, FINANCIAL EMPOWERMENT, AND JOB CREATION. WESST OFFERS COMPREHENSIVE BILINGUAL BUSINESS SERVICES FROM THE PRE-STARTUP STAGE THROUGH GROWTH AND REPOSITIONING. OVER THE PAST 3 DECADES, WESST HAS FACILITATED THE START-UP OF 2,760 NEW BUSINESSES, THE CREATION OF 5,688 NEW JOBS AND OVER 11.0 MILLION LOANED TO CLIENTS. HEADQUARTERED IN ALBUQUERQUE, WESST SERVICES THE ENTIRE STATE OF NEW MEXICO THROUGH ITS REGIONAL OFFICE NETWORK IN FARMINGTON, HOBBS, LAS CRUCES, RIO RANCHO, ROSWELL AND SANTA FE. IN 2009, WESST OPENED WESST ENTERPRISE CENTER (WEC), A LEED CERTIFIED MIXED-USE SMALL BUSINESS INCUBATOR IN DOWNTOWN ALBUQUERQUE THAT ACCELERATES THE DEVELOPMENT OF GROWTH-ORIENTED COMPANIES, REFLECTIVE OF WESST'S ABILITY TO PRODUCE ECONOMIC IMPACT, WEC MEMBER COMPANIES HAVE CREATED 428 NEW JOBS, 63.3 MILLION IN PAYROLL AND GENERATED OVER 150.3 MILLION IN REVENUES OVER THE PAST 10 YEARS. THE WEC WAS HONORED AS ONE OF THE "SEVEN HOTTEST STARTUP INCUBATORS" BY CNN MONEY.COM IN 2010 AND 2017, THE WEC WAS AWARDED THE SOUTHWEST STAR AWARD BY EDA. WESST HAS BEEN THE RECIPIENT OF NUMEROUS HONORS INCLUDING THE ETHICS IN BUSINESS AWARD IN 2011 AND AED'S 505 COMMUNITY LEADERSHIP AWARD IN 2019. WESST HAS BEEN A LONG-TIME RESOURCE PARTNER OF THE U.S. SMALL BUSINESS ADMINISTRATION AND HOSTS SIX SBA WOMEN'S BUSINESS CENTERS IN NEW MEXICO. WESST IS ALSO AN SBA MICROLENDER AND A CDFI COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION.

Program 2
Expenses: $183,849 Revenue: $52,678

FINANCIAL ASSISTANCE: AT DECEMBER 31, 2024, WESST HAD 122 LOANS OUTSTANDING TOTALING APPROXIMATELY 838,843. THESE LOANS ARE FOR SMALL BUSINESSES WHICH ARE UNABLE TO OBTAIN FINANCING FROM BANKS OR...

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FINANCIAL ASSISTANCE: AT DECEMBER 31, 2024, WESST HAD 122 LOANS OUTSTANDING TOTALING APPROXIMATELY 838,843. THESE LOANS ARE FOR SMALL BUSINESSES WHICH ARE UNABLE TO OBTAIN FINANCING FROM BANKS OR OTHER TRADITIONAL SERVICES, AND ASSISTANCE IN ACCESSING OTHER FINANCIAL RESOURCES.

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Trantor Score

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

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $4,260,155
Program Service Revenue $4,883,418
Investment Income $9,786
Other Revenue $4,336
TOTAL REVENUE $9,157,695

Expense Breakdown

Grants Paid $3,041,189
Salaries & Benefits $2,730,492
Fundraising Expenses $203,453
Program Expenses $8,207,872
Other Expenses $2,760,459
TOTAL EXPENSES $8,532,140

Year-over-Year Comparison

2024 2023 Change
Revenue $9,157,695 $2,406,839 +2.8%
Expenses $8,532,140 $3,123,149 +1.7%
Net Income $625,555 $-716,310 -1.9%
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

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Liquidity & Cash Position

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Governance

Voting Members
17
Independent Members
17
Employees
47
Volunteers
75

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
7
$229,624
Total Directors
17
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
AGNES NOONAN PRESIDENT 40.00
Officer
$111,493 $4,414 $115,907
CHERI LOPEZ VP OF FINANC 40.00
Officer
$94,862 $18,855 $113,717
CHERYL HARDT CHAIR 2.00
Officer Director
$0 $0 $0
MARIAM BRUCE VICE CHAIR 2.00
Officer Director
$0 $0 $0
MIKE LOWRIMORE TREASURER 1.00
Officer Director
$0 $0 $0
JACOB SENA SECRETARY 1.00
Officer Director
$0 $0 $0
CARA GORDON POTTER IMMEDIATE PA 1.00
Officer Director
$0 $0 $0
EMILY ALLEN MEMBER 1.00
Director
$0 $0 $0
TAYLOR ALLEN MEMBER 1.00
Director
$0 $0 $0
ANGELA BACA MEMBER 1.00
Director
$0 $0 $0
EMILY REMBE BENAK MEMBER 1.00
Director
$0 $0 $0
FRANK FINE MEMBER 1.00
Director
$0 $0 $0
AIMEE GONZALEZ MEMBER 1.00
Director
$0 $0 $0
NICOLE JOHNNY MEMBER 1.00
Director
$0 $0 $0
MONICA JOJOLA MEMBER 1.00
Director
$0 $0 $0
SUZANNE MIRABAL MEMBER 1.00
Director
$0 $0 $0
BAYARD ROBERTS IV MEMBER 1.00
Director
$0 $0 $0
TANA TRAYLOR MEMBER 1.00
Director
$0 $0 $0
OMINI WARNER MEMBER 1.00
Director
$0 $0 $0
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
2024 $9,157,695 $8,532,140 $11,898,052 $625,555
2023 $2,406,839 $3,123,149 $11,080,364 $-716,310
2022 $3,404,509 $3,329,612 $11,077,017 $74,897
2021 $3,334,840 $2,996,715 $11,151,256 $338,125
2020 $3,035,690 $2,799,232 $11,391,087 $236,458
2019 $2,614,597 $3,151,965 $11,047,646 $-537,368
2018 $2,868,936 $3,022,747 $11,204,040 $-153,811
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