2024-10-08T12:13:45-05:00 2023-12-31 410746749 CLIFTONLARSONALLEN LLP 2210 EAST ROUTE 66 GLENDORA CA 91740 990 2023-01-01 953674624 WOMEN'S ECONOMIC VENTURES WOME 8059656073 21 E CANON PERDIDO STREET SUITE 3 SANTA BARBARA CA 93101 NICOLA PARR CEO 8059656073 2024-10-07 1 1 MEI-LI HUANG P02383735 6268577300 2024-10-07 2023 2024-10-15 13:58:12Z NICOLA PARR 21 E CANON PERDIDO STREET SUITE 301 SANTA BARBARA CA 93101 4717328 0 X WWW.WEVONLINE.ORG X 1981 CA WOMEN'S ECONOMIC VENTURES IS DEDICATED TO THE ECONOMIC EMPOWERMENT OF WOMEN CULTIVATING THE POWER WITHIN EACH WOMAN TO REALIZE HER DREAMS, ACHIEVE FINANCIAL INDEPENDENCE AND SUCCEED ON HER OWN TERMS. 14 14 58 85 0 0 2828770 3772658 212838 284588 91956 141151 -19874 0 3113690 4198397 668500 826250 0 0 2701117 2714846 0 0 290458 825226 919377 4194843 4460473 -1081153 -262076 6567261 6754564 3557051 3661164 3010210 3093400 WOMEN'S ECONOMINC VENTURES (WEV) IS DEDICATED TO CREATING AN EQUITABLE AND JUST SOCIETY THROUGH THE ECONOMIC EMPOWERMENT OF WOMEN. 0 0 3704140 826250 284588 WOMEN'S ECONOMIC VENTURES (WEV) PROVIDES SMALL BUSINESS LOANS, BUSINESS TRAINING, AND TECHNICAL ASSISTANCE TO HELP PRIMARILY LOW INCOME WOMEN START OR EXPAND A SMALL BUSINESS. WEV IS A COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI) AND PROVIDES MICRO ENTERPRISE LOANS OF UP TO $25,000 TO STARTUPS AND BUSINESS EXPANSION LOANS OF UP TO $50,000 TO PREBANKABLE BUSINESSES. WEV SERVES BOTH MEN AND WOMEN IN ALL PROGRAMS. IN 2023 WEV PROVIDED TRAINING AND TECHNICAL ASSISTANCE, INCLUDING 1,648 SESSIONS OF INDIVIDUAL CONSULTING TO 309 CLIENTS AND PROVIDED 21 BUSINESS LOANS TOTALING $407,500. 3704140 1 1 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 117 0 1 58 1 0 0 0 0 0 0 0 0 0 0 0 0 X 14 14 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA X X X NICOLA PARR 8059656073 21 E CANON PERDIDO ST STE 301 SANTA BARBARA CA 93101 KATHY ODELL CEO/PRESIDENT 40.00 X 174238 0 1632 NICOLA PARR COO 40.00 X 134849 0 13285 MARNI BROOK DIRECTOR OF LENDING 40.00 X 105581 0 17614 DEVON JOHNSON DIRECTOR OF GRANTS AND IMPACT 40.00 X 105346 0 3471 BARBARA MACNAUGHTON DIRECTOR OF DEVELOPMENT 40.00 X 105720 0 10608 DEBORAH RIVAS CONTROLLER 40.00 X 92000 0 3593 BANKS STAPLES PECHT CHAIR 2.00 X X 0 0 0 ANDY WINCHESTER CO-VICE CHAIR 2.00 X X 0 0 0 SCOTT HANSEN CO-VICE CHAIR 2.00 X X 0 0 0 NANCY CROUSE TREASURER 2.00 X X 0 0 0 LINDA ROSSI SECRETARY 2.00 X X 0 0 0 KATYA ARMISTEAD BOARD MEMBER 2.00 X 0 0 0 VINCE CABALLERO BOARD MEMBER 2.00 X 0 0 0 KRISTINA ERIKSEN BOARD MEMBER 2.00 X 0 0 0 ELAINE KITAGAWA BOARD MEMBER 2.00 X 0 0 0 EMILY LATOUR BOARD MEMBER 2.00 X 0 0 0 MELISSA LIVINGSTON BOARD MEMBER 2.00 X 0 0 0 ALE ORTEGA-BOTELLO BOARD MEMBER 2.00 X 0 0 0 DEANNA STEIGER BOARD MEMBER 2.00 X 0 0 0 JUNEMARIE JUSTUS BOARD MEMBER 2.00 X 0 0 0 717734 0 50203 5 0 1 0 0 2565800 1206858 3772658 FEES FOR SERVICE 900099 119812 119812 EDUCATION PROGRAM FEES 900099 78798 78798 LOAN INTEREST EARNED 900099 77410 77410 LOAN FEES EARNED 900099 5665 5665 OTHER PROGRAM INCOME 900099 2903 2903 284588 141872 141872 518210 518931 -721 -721 -721 4198397 284588 0 141151 67500 67500 758750 758750 271463 199584 40719 31160 2100781 1903762 80117 116902 46766 43176 258 3332 110728 100220 565 9943 185108 164792 8756 11560 6200 3626 2574 60540 60540 26989 26989 5665 5665 203604 151906 31445 20253 28507 19609 1352 7546 101473 22580 78893 30479 22859 4572 3048 65402 15060 49284 1058 SUPPLIES AND SERVICES 379831 220029 74146 85656 SBLF - OTHER OPERATION 10687 10687 4460473 3704140 465875 290458 744162 854352 303954 386856 876873 426249 11000 18073 1447074 1460562 51698 42659 114786 49078 96187 65708 2625808 3022863 410505 477242 6567261 6754564 597585 422335 446610 120547 178687 151380 950000 950000 1384169 2016902 3557051 3661164 X 1841115 1850542 1169095 1242858 3010210 3093400 6567261 6754564 -262076 345266 0 X X 0 1 X 1 0 X 2282910 2938526 2612145 2828771 3772658 14435010 2282910 2938526 2612145 2828771 3772658 14435010 307326 14127684 73680 60876 96532 65134 141872 438094 14873104 1111166 0.94990 0.74330 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2625595 5000 392045 3022640 3317792 -180625 -511572 2625595 3052362 -104000 369430 3317792 2653691 40000 358671 3052362 345219 2040000 268472 2653691 0.81670 0.11260 0.07070 0 0 10873 5437 5436 23456 13326 10130 80457 30315 50142 65708 ACCRUED INTEREST ON SBLF LOANS 3771 DEPOSITS 11983 OPERATING - RIGHT OF USE ASSET 461488 477242 LINE OF CREDIT 1225190 DEFERRED LOAN FEES 4020 LEASE LIABILITY 480381 ADVANCES RECEIVED FOR LENDING 307311 2016902 X 4516674 345266 345266 4171408 26989 26989 4198397 4433484 0 4433484 26989 26989 4460473 PART X, LINE 2: WEV IS A NON-PROFIT ENTITY EXEMPT FROM THE PAYMENT OF INCOME TAXES UNDER INTERNAL REVENUE CODE SECTION 501(C)(3) AND CALIFORNIA REVENUE AND TAXATION CODE SECTION 23701D. ACCORDINGLY, NO PROVISION HAS BEEN MADE FOR INCOME TAXES. MANAGEMENT HAS DETERMINED THAT ALL INCOME TAX POSITIONS ARE MORE LIKELY THAN NOT OF BEING SUSTAINED UPON POTENTIAL AUDIT OR EXAMINATION; THEREFORE, NO DISCLOSURES OF UNCERTAIN INCOME TAX POSITIONS ARE REQUIRED. WEV FILES AN EXEMPT ORGANIZATION RETURN IN THE U.S. FEDERAL JURISDICTION AND WITH THE CALIFORNIA FRANCHISE TAX BOARD. WEV IS SUBJECT TO INCOME TAX ON NET INCOME THAT IS DERIVED FROM BUSINESS ACTIVITIES THAT ARE UNRELATED TO THE EXEMPT PURPOSES. 1 CHILDREN'S RESOURCE AND REFERRAL OF SB CO 124 W CARMEN LANE SUITE C SANTA MARIA CA 93458 952684041 501(C)(3) 67500 0 N/A N/A TO SUPPORT WEV'S SEED2 PROJECT 1 CASH GRANTS 85 568750 0 N/A N/A FORGIVABLE LOANS 18 190000 0 N/A N/A PART I, LINE 2: CRR: SUBRECIPIENT FOR WEV'S CA ETP SEED2 GRANT RECEIVED $67,500 TO PROVIDE TRAINING TO GRANT RECIPIENTS -CRR PROVIDED INVOICES-WITH DESCRIPTION OF WORK TO BE COMPLETED. PART III, COLUMN (B): 1. CASH GRANTS: PROVIDED THROUGH CA ETP SEED1 AND SEED2 GRANTS. FUNDS MUST BE USED ACCORDING TO DESCRIPTION PROVIDED ON BUSINESS PLAN/GRANT APPLICATION. NUMBER OF RECIPIENTS IS DETERMINED BY TERMS OF CONTRACT. 2. FORGIVABLE LOANS: THE NUMBER OF RECIPIENTS IS DETERMINED BY THE TERMS OF WEV'S CONTRACT OR GRANT WITH THE FUNDER. THERE WERE 19 FORGIVABLE LOANS @ $10,000/ GRANTED TO 19 RECIPIENTS. RECIPIENTS PROVIDE RECEIPTS FOR SPENDING THAT MATCH THOSE DESCRIBED IN THEIR APPLICATIONS. X X X 0 0 0 0 0 0 0 0 0 KATHY ODELL CEO/PRESIDENT 174238 0 0 0 0 0 762 0 870 0 175870 0 0 0 PART I, LINE 3 CEO'S EMPLOYMENT CONTRACT IS APPROVED BY THE BOARD. FORM 990, PART VI, SECTION B, LINE 11B WOMENS ECONOMIC VENTURES HAS AN AUDIT COMMITTEE, WHICH REVIEWS THE AUDIT UPON COMPLETION. THE FINANCE COMMITTEE REVIEWS THE 990 BEFORE IT IS SIGNED BY THE PRESIDENT/CEO AND FILED. FORM 990, PART VI, SECTION B, LINE 12C WEV HAS A CONFLICT OF INTEREST POLICY WHICH IS DISTRIBUTED ANNUALLY TO EACH BOARD MEMBER AND REQUIRES SIGNED ACKNOWLEDGEMENT. FORM 990, PART VI, SECTION B, LINE 15 SECTION B, LINE 15A COMPENSATION FOR THE CEO AND TOP MANAGERS IS REVIEWED ANNUALLY AS PART OF THE ORGANIZATION'S ANNUAL BUDGET PROCESS AND IS CONNECTED WITH ANNUAL PERFORMANCE REVIEWS CONDUCTED BY THE CEO AND BOARD EXECUTIVE COMMITTEE. MANAGEMENT STAFF CREATES A BUDGET DRAFT WHICH IS REVIEWED BY THE BOARD FINANCE COMMITTEE PRIOR TO SUBMISSION TO THE FULL BOARD OF DIRECTORS FOR REVIEW AND APPROVAL IN THE FOURTH QUARTER. SECTION B, LINE 15B THE EXECUTIVE COMMITTEE FUNCTIONS AS THE PERSONNEL COMMITTEE THAT YEARLY REVIEWS THE SALARY OF CEO. THE CEO YEARLY REVIEWS ALL STAFF SALARIES. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2023. FORM 990, PART VI, SECTION C, LINE 19 UPON REQUEST, GOVERNING DOCUMENTS ARE SUPPLIED BY THE CEO OR GRANTS MANAGER. FORM 990, PART XII, LINE 2C: WEV HAS AN AUDIT COMMITTEE WHICH REVIEWS THE AUDIT UPON COMPLETION. THE FINANCE COMMITTEE REVIEWS THE 990 BEFORE IT IS SIGNED BY THE PRESIDENT/CEO AND FILED.