Issuu on Google+

2013 ANNUAL REPORT WBDC: WHERE ACCESS LEADS TO SUCCESS.


FROM THE CEO

THANK YOU

Thank you to our clients who keep coming back to access more information; our funders who fuel our programming; our partners who we turn to for collaboration; but most importantly, thank you for taking an interest in what the Women’s Business Development Center has done in 2013, and will continue to do, to create jobs, fuel economic growth and create healthy communities through women’s entrepreneurship. It is through relevant and progressive programming the Women’s Business Development Center (WBDC) continues to support women business owners as they grow and succeed. Through initiatives such as the Women Vetrepreneurship Program and regional procurement events with corporate partners, the WBDC is able provide the necessary trainings and connections our clients need. In the past year we have dramatically expanded our direct lending program, delivered new workshops on risk management and elevated our entrepreneurial training curriculum for start-up and emerging business owners. Particularly noteworthy, in 2013, the WBDC launched both Spanish and English eLearning courses for entrepreneurs in need of self-paced, at home entrepreneurial training. The WBDC also became a core member of the Chicago Microlending Institute, providing loans up to $25,000 for City of Chicago businesses. Additionally, we introduced the Latina Entrepreneurship Accelerated Development, or LEAD Program to educate and enhance the presence of Latina women business owners in the marketplace. Looking ahead, we are increasing our strategic collaborations, providing more access to capital, contracts and information through deepened relationships with both our public and private partners. Join us as we, just like our clients, continue on a trajectory of growth. Sincerely,

Emilia DiMenco President and Chief Executive Officer


WOMEN’S BUSINESS DEVELOPMENT CENTER | 2013 ANNUAL REPORT

WHAT

ABOUT

The Women’s Business Development Center is all about access. Access to information. Access to contacts. Access to contracts. Access to capital.

All WBDC programs and services are outcome oriented and targeted at assisting entrepreneurs establish and grow sustainable, profitable small businesses that create jobs and fuel economic growth. The WBDC’s goals are: ■ To accelerate the rate of growth of women’s business ownership ■ To increase the economic impact of women-owned businesses on both families and communities ■ To increase awareness of business ownership as a viable means of economic self-sufficiency ■ To stimulate public policy and system changes which support and strengthen the economic impact of women

2013 ACCESS HIGHLIGHTS Women Vetrepreneurship Program In partnership with the Illinois Department of Veterans’ Affairs (IDVA), the Women Vetrepreneurship Program meets the needs of women veterans who want to pursue business ownership as a pathway to economic security. In this oneof-a-kind program, the WBDC delivers entrepreneurial training, technical assistance, counseling and access to capital; and IDVA offers social service and veteranspecific benefits information to women veterans. Over 100 women veterans were served through the program in 2013.

Established Business Program The WBDC delivered targeted and relevant programming to meet the needs of established businesses and Women’s Business Enterprise National Council (WBENC) Certified Women Business Enterprises (WBEs) in our nine-state region. This included providing information and access to contract opportunities and hosting twenty-five workshops in our major markets including Milwaukee, St. Louis and Minneapolis, where the WBDCMN satellite office celebrated its 10th anniversary.

Access to Capital Program In 2013, the WBDC became a core member of the Chicago Microlending Institute (CMI). As part of CMI, we were able to provide $300,000 in direct lending and establish the Micro Finance Program, providing lending to the City of Chicago’s low to moderate income business owners, both start-ups and established. The WBDC not only provides direct lending but also assists clients in finding alternative sources of financing that are right for their business needs.

EARLY CHILDHOOD EDUCATION ENTREPRENEURSHIP PROGRAM The Early Childhood Education Entrepreneurship Program (ECEEP) provides ongoing business development training and education to prospective and established home and center-based child care entrepreneurs. The WBDC understands that affordable child care businesses make a community vibrant and enable full participation in the marketplace by women and minorities. Through the WBDC program and working collaboratively with partner organizations, we continue to provide the tools and resources necessary for a successful child care business model. In 2013, a total of 613 clients were served and approximately 3,678 children and families were reached.


PROGRAM STATISTICS Over

Over

Clients

Certifications a year

3,300

1,400

Workshops Delivered:. . . . . . . . . . . . . . . . . 238 Webinars Delivered: . . . . . . . . . . . . . . . . . . . 27 Counseling Sessions: . . . . . . . . . . . . . . . 2,203 Lending Facilitated: . . . . . . . . . . . . $7,602,000 Government Contracts Won:. . . $ 34,281,706

WE ARE THE WBDC 2013 Clients at a Glance

What really measures success is our clients and what they have been able to achieve.

Gender

Ethnicity

Business Stage

92% Female 8% Male

22% Hispanic 3.7% Asian 37% Black 1.3% Other 36% Caucasian

58% Start-up 11% Emerging 31% Established

Chiquita White Kiwi’s Boutique Kiwi’s Boutique first accessed the Women’s Business Development Center through Starting a Business in Illinois, one of the WBDC’s foundational start-up workshops. Despite the fact that Kiwi’s Boutique grew at a stable and consistent rate the first few years of business, founder Chiquita White was ready to increase the rate of business expansion. She learned about the Micro Finance Program and began counseling sessions with the financial experts at the WBDC.

While the micro finance loan process does take time and preparation, Chiquita explained that the WBDC counselors made it a stress-free process in which she controlled the pace. “The WBDC counselors were always prepared for the next step and kept me informed throughout the entire process.”

As a City of Chicago business owner, Chiquita was eligible and approved for a $20,000 loan through the WBDC’s Micro Finance Program. As a City of Chicago business owner, Chiquita was eligible

and approved for a $20,000 loan through the WBDC’s Micro Finance Program. This capital allowed Chiquita to build an e-commerce platform to sell her merchandise, hire a financial advisor and accountant, purchase a more comprehensive pointof-sale system and design her own clothing line. Chiquita is very proud of her company’s growth, but as any successful entrepreneur does, she is already looking towards the future. “In the next few years I would like to see multiple Chicagoland locations, each housing different merchandise catering towards women, men, accessories and plus size clothing.”


WOMEN’S BUSINESS DEVELOPMENT CENTER | 2013 ANNUAL REPORT

Shanetha Pollnitz Tiny Tots Tabernacle Shanetha Pollnitz opened Tiny Tots Tabernacle to create a safe and educational environment for young children in the artistic, musical, literary, scientific and creative fields.

off the ground. While she cites that all of the WBDC’s services and programs have been critical to Tiny Tots’ development, she pinpoints one in particular. When Tiny Tots was first starting out, Shanetha was working fourteen–sixteen hour days just to keep afloat. Therefore she couldn’t regularly attend any training series in downtown Chicago; it was “too far of a hike.”

Due to Shanetha’s altruistic goals and business acumen, Tiny Tots Tabernacle has seen immense growth over the past eleven years, currently serving twenty-one children with four employees.

The training series really helped me learn about the financial aspect of my business.

While Tiny Tots’ success cannot be overemphasized, Shanetha is incredibly humble and credits the help of her own community and the WBDC for getting her feet

Not long after Tiny Tots opened, she discovered the Women’s Business Development Center’s business training series,

Patricia May Tembua

the online contract portal and Women Business Enterprise (WBE) certification.

Tembua is a leading expert in the international linguistic community, providing professional translation, interpretation and language solution services in over one hundred languages. In business for over twenty years now, it is one of WBDC Minnesota’s oldest clients. As such, it utilizes the established business programs and services, such as

I have won contracts from corporations with supplier diversity programs. After over ten years of being WBE certified, the founder and CEO Patricia May explains that is one of the most useful and helpful resources she has come across while being involved with the WBDC. “The network and connections that I have gained from being WBE-certified are unmatched by any other group

Developing Your Child Care Business, in a suburb very close to her house. “I was thrilled to find a training series so accommodating and relevant for my business,” says Shanetha. “The training series really helped me learn about the financial aspect of my business and how to get it organized.” Shanetha is very involved in the local child care provider community. She is the President of the United Child Care Association, which focuses on training, coaching and membership in the Bellwood community. Shanetha also found a community within the WBDC’s resources and connections to the child care industry. With eyes on expanding into a centerbased location and a waiting list of applicants, the future looks bright for Shanetha and Tiny Tots.

or contacts. I have won contracts from corporations with supplier diversity programs and have found vendors for my own company’s needs.” Tembua has won multinational contracts with companies such as: Target, Boston Scientific, JCPenney, General Mills, YMCAUSA, Sally Beauty and many others. With seven employees and a network of virtual online project managers, Tembua has the capacity to successfully complete even the largest of projects.


Gus Morales Gusco After a few years of working as a foreman in a silicon company, Gus became restless and aspired for more responsibility in the business. Taking his knowledge of the industry and drive for economic independence through entrepreneurship, he opened Gusco, a silicon rubber and services company, in June 2010. Despite the fact that Gus was ISO 9001 Certified, an apparent requirement in the silicon rubber field, he struggled with acquiring clients. Gus was not discouraged from this lack of

Rebeca Mojica Blue Buddha Boutique Rebeca Mojica’s curiosity, creativity, drive and personal selfdiscipline turned a fascination with chainmaille jewelry from a home-based hobby to a thriving global enterprise with about $1 million in revenues, a robust e-commerce site and the largest dedicated chainmaille retail supply store in the world. Her business has grown rapidly, now serving artists and enthusiasts in all 50 states and 40 countries. Her exhaustively illustrated,

customer base and turned to the WBDC for assistance.

He began meeting with the Illinois Procurement Technical Assistance Center (PTAC) counselors at the WBDC to try to win contracts with the government. He began meeting with the Illinois Procurement Technical Assistance Center (PTAC) counselors at the WBDC to try to win contracts with the government. Gus received support from the WBDC for every aspect of his business,

beautifully written book Chained: Create Gorgeous Chain Mail Jewelry One Ring at a Time became a best-seller within four months.

Rebeca is more than just a client of the WBDC; she is an active member of the entrepreneurial community. After three years in business, Rebeca came to the Women’s Business Development Center seeking support for her everexpanding business. Rebeca leveraged the WBDC through the 12-week entrepreneurial

from developing his elevator pitch to attending pre-award surveys with him for the Defense Contract Management Agency. Having clocked over 90 hours with WBDC counselors and hundreds of hours responding to proposals, Gusco found success through filling three separate contracts through the System of Award Management (SAM). In the past three years Gus has grown his client base and now not only produces silicon products for the government but also for private clients in various industries such as healthcare, food, aerospace and others. In the past two years his revenues have doubled with a staff of only four employees.

training series as well as one-onone counseling which led to her becoming aware of, and eventually applying for the Goldman Sachs 10,000 Small Businesses Program. Not only does Rebeca utilize WBDC resources but so does her staff, “I take note of helpful workshops that are relevant for my employees and send someone from the department to gain skills and knowledge.” Rebeca is more than just a client of the WBDC; she is an active member of the entrepreneurial community. She continues to pay it forward through teaching not only business acumen, but also valuable skills to turn a personal hobby into a profitable, sustainable business.


WOMEN’S BUSINESS DEVELOPMENT CENTER | 2013 ANNUAL REPORT

WBDC BOARD OF DIRECTORS CHAIRPERSON Debra Jennings-Johnson Director, Supplier Diversity, BP America, Inc. PRESIDENT & CEO Emilia DiMenco President & CEO, Women’s Business Development Center VICE CHAIRPERSON Linda Chaplik Harris Partner, Dentons

FINANCIAL SUMMARY

SECRETARY Pam McDonough CEO, DeAngelo/McDonough Construction Management Company TREASURER Sandra Rand Former Supplier Diversity Manager, United Airlines AUDIT COMMITTEE CHAIR Norma Lauder Director, MS Tax Program, University of Illinois at Urbana-Champaign

Laurel G. Bellows, Principal, The Bellows Law Group P.C. ■ Michelle Blaise, VP Engineering & Project Management, ComEd ■ Alison Chung, President, TeamWerks ■ Risa R. Davis, Vice President, Corporate Development, United Way of Metropolitan Chicago ■ S. Carol Dougal, Founder & Co-President Emeritus, Women’s Business Development Center ■ Jeanne Mandoza, Director of Marketing for Illinois, United Parcel Service (UPS) ■ Hedy M. Ratner, Founder & Co-President Emeritus, Women’s Business Development Center ■ Arabel Alva Rosales, President, AAR & Associates, Ltd. ■ Cassandra Sanford, Chief Executive Officer and Co-Founder, KellyMitchell Group, Inc. ■ Shelley Stern, Citizenship and Public Affairs Director, Microsoft Corporation Ex-Officio Members Mellody Hobson, President, Ariel Investments, LLC ■ Terry Savage, Financial Analyst, President, Terry Savage Productions, Ltd.

WBDC STAFF & CONSULTANTS Bridget Foster* Ellenie Girma Rebecca Glaubke Bethany Hartley Deborah Minor Harvey Richard Henderson Meg Herman Kelly Hinman Jo-Ann Hunigan

* Fiscal Year 2014 Employee

Corporate/Foundations: . . 61% WBE Program: . . . . . . . . . 22% Government: . . . . . . . . . . 12% Partnership Fees: . . . . . . . . 3% Training & Seminars: . . . . . . . . . 1% Interest & Loan Fees: . . . . . . . . 1%

Expenditures: Program Services: . . . . . . . 80% Management/General: . . 13% Fundraising: . . . . . . . . . . . . 7%

Budget (In $ millions)

MEMBERS

Eva Brown** Crystal Costello* Deon Crayton Freida Curry Mia Delano** Carolina Diaz Rebecca Diaz Stephanie Edlinger* Natasha Fedorova

Funding Sources:

Cynthia Johnson Anita Knazze* Danae Kovac** Katie Lang Grace Lopez Janice Lopez Debbi Lyall Nicole Mandeville* Georgia Marsh

Jasmine Nabors* Joi Lynne Ortiz* Mayra Pimental Teresa Prim Hedy Ratner Juanita Smith Peggy Smith Kristin Travis Roxanne Ward*

** Fiscal Year 2013 Employee no longer with WBDC

2005 . . . . 2.7 2006 . . . 2.76 2007 . . . 2.85 2008 . . . 3.54 2009 . . . 3.26

2010 . . . . 3.30 2011 . . . . . 3.3 2012 . . . . 3.45 2013 . . . . 4.36

The WBDC has been fortunate to maintain a diversified funding portfolio representative of corporations, foundations, government entities (city, county, state, federal), certification services fees, client fees and individual donations. As an organization we have done our best not to become dependent on any one funder or revenue stream. This is possible because of the comprehensive and diverse nature of the programs we offer, as well as critical targeted services for special populations such as Latinas, women veterans and child care entrepreneurs. The WBDC is a responsible steward for monies entrusted to the organization, ensuring each financial investment is expended as agreed upon. The WBDC adheres to any and all fund requirements and proactively provides various reports containing snapshots of each investment. Since its inception, the WBDC has always received an unqualified opinion within its annual audit, and there have never been material discrepancies in any fiscal reviews conducted by individual government entities. Finally, the WBDC is compliant with Sarbanes-Oxley guidelines as applied to non-profits. A copy of the financial statements or audit will be provided by the WBDC upon request.


WBDC Contributors Marquee Government Partners City of Chicago, Department of Community Development Cook County, Bureau of Community Development The Illinois Department of Commerce and Economic Opportunity, Illinois Entrepreneurship Network, Small Business Development Center U.S. Small Business Administration U.S. Small Business Administration – Office of Women’s Business Ownership

Marquee Contributors ($40,000+) Bank of America Charitable Foundation, Inc. BMO Harris Bank N.A. BP America, Inc. Deluxe Corporation Foundation Discover Financial Services Goldman Sachs 10,000 Small Businesses, Chicago JPMorgan Chase Newman’s Own Foundation Robert R. McCormick Foundation Travelers Foundation Walgreens Company Women’s Business Enterprise National Council (WBENC)

Premier Contributors ($25,000-$39,999) Allstate Insurance Chicago Foundation for Women Citi Foundation CNA Insurance Companies ComEd Fredrikson & Byron, P.A. Lurie Besikof Lapidus & Company, LLP Microsoft Corporation OfficeMax U.S. Bank United Airlines UPS W.W. Grainger, Inc.

Major Contributors ($10,000-$24,999) AT&T Cardinal Health CDW Deere & Company Dominick’s Finer Foods Federal Reserve Bank of Chicago, Kansas City, Minneapolis and St. Louis First Nonprofit Insurance Agency Foundation Health Care Service Corporation/ BlueCross BlueShield of Illinois Integrys Energy Group/People’s Gas INTREN Inc. Kraft Foods Group Mathematica Policy Research, Inc. The Nielsen Company Northern Trust Office Depot

8 S. Michigan Avenue, 4th Floor

PepsiCo, Inc. PNC Smead Manufacturing Company Southwest Airlines Company Target Corporation Turner Construction Company Foundation University of Illinois Wrigley

Contributors ($2,000-$9,999) 3M Ameren Corporation American Airlines Ameriprise Financial, Inc. AmerisourceBergen Corporation Avis Budget Group, Inc. Baxter International, Inc. Best Buy Corporation Blue Cross Blue Shield of Minnesota Butler Tool, Inc. C.H. Robinson Worldwide, Inc. Cargill, Inc. Cedar Concepts Corporation CHEP Chicago Zoological Society Citibank City Colleges of Chicago Cycle-of-Success Institute (COSi) DC Insurance Services, Inc. Deluxe Corporation Dun & Bradstreet Credibility Corp ECOLAB Edelman Fifth Third Bank First Midwest Bank General Mills Harley-Davidson Motor Company HALO Branded Solutions Hospira, Inc. Jack & Goldie Wolfe Miller Fund James McHugh Construction Co. John D. and Catherine T. MacArthur Foundation KellyMitchell Group, Inc. Knutson Construction Leo Burnett Worldwide, Inc. McCormick Place Chicago, an SMG Managed Facility McDonald Hopkins LLC Macy’s Major League Baseball Manilow Suites ManpowerGroup Mayo Clinic Medtronic, Inc. Metropolitan Water Reclamation District of Greater Chicago Minneapolis Public School District Monsanto Company Motorola Solutions, Inc. National Van Lines, Inc. Navistar Navy Pier, Inc. New Age Transportation, Distribution & Warehousing, Inc. Nicor Gas Northwestern University – Purchasing Resource Services Novation

Chicago, IL 60603

ph 312.853.3477

RBC Wealth Management Robinson Hill Rush University Medical Center Staples, Inc. SUPERVALU Inc. Thomson Reuters Trinal, Inc. U.S. Department of Energy Union Pacific Railroad United Scrap Metal UnitedHealth Group The University of Chicago The University of Chicago Medicine University of Minnesota VWR International, LLC Urban Partnership Bank Walmart William G. McGowan Charitable Fund, Inc. Wisconsin Energy Corporation Womenetics Xcel Energy

Pam McDonough Nancy Murphy Sheryl Myhre Patricia Redszus Arabel Alva Rosales Gwen Ryan Julia Stasch

Special Thanks

Media Partners Black EOE Journal Chicago Sun-Times Comcast Crain’s Chicago Business Enterprising Women Magazine Extra Newspaper Grid Magazine Hispanic Network Magazine Hoy Newspaper La Raza Lawndale News Make it Better MBE Connect MBE Magazine Minority Business News USA (MBN USA) Minority Entrepreneur Newspaper Myhabanero.com NBC5 Chicago Pioneer Press Professional Woman’s Magazine Reflejos Newpaper Telemundo Today’s Chicago Woman U.S. Veterans Magazine Univision Radio WGBO – TV66 Univision Women’s Enterprise Magazine (WE USA) WVON Radio

Individual Donors ($1,000+) Barbara Anasenes Phyllis Apelbaum Elizabeth Beidler-Tisdahl Michelle Blaise Alison Chung Christina Chwala Cherlin Davenport Mary Davenport Ann Drake Debra Jennings-Johnson Tammie Johnson Norma Lauder Milica Maddocks Shirley Marx Judy McCaskey

fx 312.853.0145

WBDC.org

Accion Chicago Alto Tech Ameren Corporation Laurel G. Bellows Bridgeforth Wolf & Associates, Inc. Carolynn Brooks The Bureau of Engraving, Inc. CDW Chicago Minority Supplier Development Council, Inc. (CMSDC) Chris Ruys Communications, Inc. Consolidated Printing Constant Contact Marsha Cruzan Honorable Rahm Emanuel, Mayor, City of Chicago Federation of Women Contractors Futura Marketing, Inc. Google AdWords Lisa Holter Hoopla Communications Ideal Printers, Inc. Illinois Action for Children J&J Exhibitors Service, Inc. Debra Jennings-Johnson Joone Productions Michelle Kantor Kayhan International Meggan Kehrli Beth Kieffer Leonard KNOCK, inc. McCormick Place Chicago, an SMG Managed Facility Microsoft Corporation Motorola Solutions, Inc. Honorable Toni Preckwinkle, Cook County Board President Overture Premiums & Promotions LLC Honorable Pat Quinn, Governor, State of Illinois Sandra Rand Richards Graphic Communications, Inc. Allison Rosati RubinBrown LLP Terry Savage SAVOR…Chicago at McCormick Place Terri Shapiro Smead Manufacturing Company Lindsay Sokolowski Staples, Inc. University of Minnesota

jakgraphicdesign.com The WBDC is grateful to JAK for the design of this report.

facebook.com/WBDC.Chicago

twitter.com/WBDC


WBDC 2013 Annual Report