2019-11-14T07:20:20-06:00 2018-12-31 043296226 DICICCO GULMAN & COMPANY LLP 150 PRESIDENTIAL WAY SUITE 510 WOBURN MA 01801 990 2018-01-01 043256236 CENTER FOR WOMEN & ENTERPRISE INC CENT 6175360700 24 SCHOOL STREET 7TH FLOOR NO 700 BOSTON MA 02108 GABY KING MORSE PRESIDENT/CEO 6175360700 2019-11-12 1 LINDA MCLEAN P01354311 7819375300 2019-11-12 38.111.50.130 2019-11-12 12:41:43 ES P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 CBA9CDFC40C81EE915F2336AB738AB00774D62C3 2018 2020-04-17 16:48:07Z GABY KING MORSE 24 SCHOOL STREET BOSTON MA 02108 3008116 0 X WWW.CWEONLINE.ORG X 1995 MA EDUCATION, TRAINING, CONSULTING, TECHNICAL ASSISTANCE AND CERTIFICATION FOR ENTREPRENEURS. 23 22 34 180 0 1110 2449727 2481923 307785 378282 0 0 44643 34580 2802155 2894785 0 0 0 0 1755883 1865365 0 0 462660 1041524 1163796 2797407 3029161 4748 -134376 1392142 1543712 1025815 1311761 366327 231951 X THE CENTER FOR WOMEN & ENTERPRISE EMPOWERS WOMEN TO BE ECONOMICALLY SELF-SUFFICIENT AND TO PROSPER THROUGH BUSINESS AND ENTREPRENEURSHIP. 0 0 1917263 98546 EDUCATION: THE CENTER FOR WOMEN & ENTERPRISE HAS TRAINED 51,000 ASPIRING SMALL BUSINESS OWNERS WHO HAVE PAID $1.4 BILLION IN WAGES TO THEIR EMPLOYEES. WE PROVIDE COMPREHENSIVE PROGRAMS AND SERVICES FOR ENTREPRENEURS AND BUSINESS OWNERS IN MASSACHUSETTS, NEW HAMPSHIRE, RHODE ISLAND, AND VERMONT, WHICH ADDRESS THE FULL CONTINUUM OF THEIR BUSINESSES' LIFECYCLES. CWE OFFERS ONSITE, ONLINE AND WORKSHOPS IN THE COMMUNITIES WE SERVE ON CRITICALLY RELEVANT TOPICS INCLUDING FINANCIAL LITERACY, BUSINESS PLAN CREATION, FINANCING OPTIONS, AND VISIONING, ALL DESIGNED TO STRENGTHEN WOMEN AND VETERAN OWNED BUSINESSES. IN 2018, CWE TRAINED AND COUNSELED MORE THAN 4,300 WOMEN (AND MEN) AND HELPED ENTREPRENEURS GENERATE OVER $106 MILLION, AND CREATE 3,600 JOBS. CLASSES ARE OPEN TO ALL, WITH FINANCIAL ASSISTANCE AVAILABLE TO THOSE IN NEED. 339278 273839 CERTIFICATION: THE CENTER FOR WOMEN & ENTERPRISE OFFERS WOMEN BUSINESS OWNERS THE ABILITY TO OBTAIN FORMAL STATUS OF THEIR DIVERSITY THROUGH A VARIETY OF CERTIFICATIONS. CERTIFICATION ALLOWS BUSINESSES TO BID ON CONTRACTS AS A DIVERSE VENDOR IN BOTH THE PRIVATE AND PUBLIC SECTOR. IT IS AN IMPORTANT TOOL FOR EXPANDING THE VISIBILITY OF A COMPANY AMONG DECISION MAKERS IN SUPPLIER DIVERSITY AND PROCUREMENT. CWE IS THE REGIONAL PROVIDER OF THE WOMEN'S BUSINESS ENTERPRISE NATIONAL COUNCIL (WBENC), THE PREMIERE PRIVATE SECTOR CERTIFICATION THAT GIVES WOMEN-OWNED BUSINESSES AN ADVANTAGE IN THE CORPORATE BIDDING ARENA. WE ALSO OFFER THE WOMEN OWNED SMALL BUSINESS (WOSB-FEDERAL) AS A SECONDARY CERTIFICATION AT NO ADDITIONAL COST. THIS CERTIFICATION IS REQUIRED FOR WOMEN-OWNED BUSINESSES THAT WANT TO BID ON FEDERAL CONTRACTS IN THE PUBLIC SECTOR. IN 2018, CWE CERTIFIED 401 WOMEN-OWNED BUSINESSES THROUGH THE WBENC. 15922 5897 MICROLOAN: WE HAS PARTNERED WITH LOCAL FUNDERS TO LAUNCH A PILOT MICRO LENDING PROGRAM FOR RHODE ISLAND BUSINESSES. THE PROGRAM IS DESIGNED TO PROVIDE AFFORDABLE BUSINESS LOANS TO LOW-TO-MODERATE-INCOME ENTREPRENEURS WHO MIGHT NOT QUALIFY FOR CONVENTIONAL FUNDING. THE WOMEN'S MICROLOAN FUND OFFERS LOANS FROM $500 TO $5,000 WITH NO INTEREST THE FIRST 12-MONTHS AND 2% INTEREST FOR MONTHS 13 TO 24. THE SMALL BUSINESS MICROLOANS PROVIDE LOANS FROM $2,000 TO $25,000 FOR UP TO 60 MONTHS WITH AN INTEREST RATE OF PRIME PLUS 2%. AS PART OF THE BORROWER QUALIFICATIONS AN APPLICANT MUST HAVE A BUSINESS PLAN, COMPLETED TRAINING WITH CWE OR AN APPROVED AFFILIATE AND BE RECOMMENDED FOR THE PROGRAM. CANDIDATES WORK WITH CWE STAFF TO PREPARE AND SUBMIT A COMPLETE LOAN PACKAGE FOR CONSIDERATION. AT THIS TIME APPLICANTS MUST BE A RESIDENT OF RHODE ISLAND. 2272463 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 1 39 0 1 34 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 23 22 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 MA RI NH X X X GABY KING MORSE PRESIDENTCEO 6175360700 24 SCHOOL STREET 7TH FLOOR SUITE 7 BOSTON MA 02108 CONSTANCE S WRIGHT BOARD MEMBER 3.00 X 0 0 0 ELLEN G HOFFMAN BOARD MEMBER 3.00 X 0 0 0 JOEL ADLER TREASURER AND BOARD MEMBER 3.00 X X 0 0 0 KAREN F COPENHAVER BOARD CHAIR 10.00 X X 0 0 0 SUSAN RITTSCHER PRESIDENT & CEO 40.00 X X 210532 0 8070 DOUG SHAW BOARD MEMBER 3.00 X 0 0 0 JANET DUNLAP BOARD MEMBER 3.00 X 0 0 0 MARIA ABERNETHY BOARD MEMBER 3.00 X 0 0 0 PAMELA F LENEHAN BOARD MEMBER 3.00 X 0 0 0 SANDY LISH BOARD MEMBER 3.00 X 0 0 0 SUSAN LOCONTO PENTA BOARD MEMBER 3.00 X 0 0 0 AMY ACAMPORA BOARD MEMBER 3.00 X 0 0 0 JACQUELINE TAYLOR SECRETARY AND BOARD MEMBER 3.00 X X 0 0 0 MARCIA MORRIS BOARD MEMBER 3.00 X 0 0 0 ROSLYN DAUM BOARD MEMBER 3.00 X 0 0 0 DEB THOMAS BOARD MEMBER 3.00 X 0 0 0 LISA WOOD BOARD MEMBER 3.00 X 0 0 0 CYNTHIA C SMITH BOARD MEMBER 5.00 X 0 0 0 TINA BENIK BOARD MEMBER 3.00 X 0 0 0 NAHEED MALIK BOARD MEMBER 3.00 X 0 0 0 DEREK BROOKS BOARD MEMBER 3.00 X 0 0 0 DAVID GUSELLA BOARD MEMBER 3.00 X 0 0 0 STEPHANIE PARE SULLIVAN BOARD MEMBER 3.00 X 0 0 0 MICHELLE A RIENDEAU HIGHLY COMPENSATED EMPLOYEE 40.00 X 102821 0 8075 313353 0 16145 2 0 1 0 0 170483 1335498 975942 58961 2481923 TUITION, LESS SUBSIDIE 541900 378282 378282 378282 147911 170483 113331 34580 34580 2894785 378282 0 34580 218602 109300 54651 54651 1359418 998000 130975 230443 119302 82022 12407 24873 168043 115533 17475 35035 31000 21584 9416 108070 60944 36 47090 69596 51227 14588 3781 46679 38179 4828 3672 374580 334877 19852 19851 90198 70416 10705 9077 38299 34468 3831 47538 42763 4775 9847 9294 553 INSTRUCTORS FEES/STIPEN 161151 161151 OTHER EXPENSES 106213 64616 7943 33654 PROGRAM EVENTS AND MATE 41543 41051 492 EQUIPMENT RENTAL & MAIN 28407 28068 339 10675 8970 1172 533 3029161 2272463 294038 462660 15893 433997 797447 496069 260924 297884 114908 125877 20821 21684 485222 354218 144952 131004 37197 37197 1392142 1543712 252359 294822 7500 150000 748616 689552 150000 24840 19887 1025815 1311761 X -310869 -351070 677196 583021 366327 231951 1392142 1543712 -134376 0 X X 0 1 X 1 1 1 X 2144733 2370326 2586422 2528267 2689722 12319470 2144733 2370326 2586422 2528267 2689722 12319470 94278 12225192 138140 119924 86548 273888 205063 823563 13143033 0.93020 0.90900 X SCHEDULE A, PART II, LINE 10 EXPLANATION FOR OTHER INCOME: FUNDRAISING REVENUE NET DIRECT EXPENSES. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 22910 14667 8243 196746 140697 56049 265566 198854 66712 131004 DEFERRED RENT 19887 19887 X 3140345 132229 113331 245560 2894785 0 2894785 3274721 132229 113331 245560 3029161 0 3029161 PART X, LINE 2: ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA PRESCRIBE THE THRESHOLD A TAX POSITION IS REQUIRED TO MEET BEFORE BEING RECOGNIZED IN THE FINANCIAL STATEMENTS. THE TAX-EXEMPT STATUS OF AN ENTITY IS CONSIDERED A TAX POSITION. AN ADDITIONAL LIABILITY FOR UNCERTAIN TAX POSITIONS (UTPS) IS RECOGNIZED AND RECORDED AS A COMPONENT OF CURRENT INCOME TAX EXPENSE FOR DIFFERENCES BETWEEN FINANCIAL AND INCOME TAX REPORTING POSITIONS WHICH DO NOT MEET THIS THRESHOLD. ANY INTEREST AND PENALTIES RELATED TO UTPS ARE RECORDED AS A COMPONENT OF INCOME TAX EXPENSE. THE ORGANIZATION HAS NOT TAKEN ANY TAX POSITIONS, INCLUDING TAX POSITIONS THAT WOULD JEOPARDIZE ITS TAX EXEMPT STATUS, WHICH WOULD HAVE A MATERIAL EFFECT, INDIVIDUALLY OR IN THE AGGREGATE, ON ITS FINANCIAL STATEMENTS AND THUS HAS NOT RECORDED A LIABILITY AT DECEMBER 31, 2018. THE ORGANIZATION FILES INCOME TAX RETURNS IN FEDERAL AND STATE JURISDICTIONS. THE ORGANIZATION IS NO LONGER SUBJECT TO EXAMINATIONS BY TAX AUTHORITIES FOR YEARS PRIOR TO 2015. CURRENTLY, THERE ARE NO INCOME TAX AUDITS IN PROCESS. PART XI, LINE 2D - OTHER ADJUSTMENTS: DIRECT EXPENSES FROM FUNDRAISING EVENTS NETTED WITH FUNDRAISING REVENUE PART XII, LINE 2D - OTHER ADJUSTMENTS: DIRECT EXPENSES FROM FUNDRAISING EVENTS NETTED WITH FUNDRAISING REVENUE ANNUAL GALA AND AUCTION 318394 170483 147911 113331 1 318394 170483 147911 113331 113331 34580 X X 0 0 0 0 0 0 0 1 0 SUSAN RITTSCHER PRESIDENT & CEO 210532 0 0 0 0 0 0 0 8070 0 218602 0 0 0 PART I, LINE 7 INTEREST PAID ON SEVEN SHORT TERM LOANS FROM CERTAIN BOARD MEMBERS DURING 2018. FOUR OF THESE LOANS WERE REPAID PRIOR TO DECEMBER 31, 2018 AND FOUR LOANS REMAINED OUTSTANDING AT DECEMBER 31, 2018 AND WERE SUBSEQUENTLY PAID IN JANUARY 2019. SUSAN RITTSCHER BOARD MEMBER CASH FLOW X 25000 25000 0 1 1 KAREN COPENHAVER BOARD MEMBER CASH FLOW X 25000 25000 0 1 1 JOEL ADLER BOARD MEMBER CASH FLOW X 50000 50000 0 1 1 JANET DUNLAP BOARD MEMBER CASH FLOW X 50000 50000 0 1 1 150000 X AUCTION ITEMS 86 58961 COST OR SELLING PRIC 0 0 0 PART I, COLUMN (B): 86 REPRESENTS THE NUMBER OF AUCTION ITEMS RECEIVED. FORM 990, PART VI, SECTION B, LINE 11B A COPY OF THE FORM 990 WAS PROVIDED TO THE BOARD OF GOVERNANCE IN DRAFT FORM PRIOR TO FILING. THE BOARD CHAIR, BOARD TREASURER, AUDIT COMMITTEE, PRESIDENT AND CEO, AND THE DIRECTOR OF FINANCE AND ADMINISTRATION REVIEWED THE FORM IN DETAIL. A FINAL VERSION OF THE FORM, INCORPORATING THE BOARD'S COMMENTS, IS SIGNED BY THE PRESIDENT AND CEO. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS INCLUDED IN THE ORGANIZATION'S BY-LAWS AND IS CIRCULATED ANNUALLY TO THE BOARD MEMBERS AND THE PRESIDENT AND CEO. CONFLICTS ARE REPORTED TO THE BOARD CHAIRPERSON AND REVIEWED BY THE CHAIRPERSON. NO CONFLICTS HAVE BEEN REPORTED. FORM 990, PART VI, SECTION B, LINE 15A THE PRESIDENT AND CEO IS THE TOP MANAGEMENT OFFICIAL WHOSE COMPENSATION IS REVIEWED AND APPROVED BY THE COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS. THE PRESIDENT/CEO'S COMPENSATION IS COMPARED TO APPROPRIATE RANGES OF COMPENSATION FOR THE POSITION IN ORGANIZATIONS OF SIMILAR SIZE AND WITH SIMILAR RESPONSIBILITIES. FORM 990, PART VI, SECTION C, LINE 18 THE ORGANIZATION'S FORM 990 IS AVAILABLE ON THE WEBSITE OF THE MASSACHUSETTS ATTORNEY GENERAL, DIVISION OF PUBLIC CHARITIES, AND MAY BE VIEWED OR DOWNLOADED. IT IS AN ATTACHMENT TO THE MASSACHUSETTS FORM PC FILED ANNUALLY. IT IS ALSO AVAILABLE ON THE ORGANIZATION'S WEBSITE. ALTERNATIVELY, IRS FORM(S) 990 FILED WITHIN A 3-YEAR PERIOD FROM THE DATE OF FILING, ARE AVAILABLE FOR INSPECTION, AS WELL AS THE ORGANIZATION'S EXEMPTION APPLICATION, AT THE MAIN BUSINESS OFFICE OF THE ORGANIZATION AT 24 SCHOOL STREET, BOSTON, MA 02108 DURING REGULAR BUSINESS HOURS. UPON IN-PERSON, WRITTEN OR AN E-MAIL REQUEST, A COPY WILL BE PROVIDED OF THE FORM 990, SUBJECT TO THE PAYMENT OF REASONABLE COPYING AND MAILING CHARGES, IN ACCORDANCE WITH IRS REGULATIONS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND AUDITED FINANCIAL STATEMENTS ARE AVAILABLE FOR INSPECTION AT THE ORGANIZATION'S OFFICES AT 24 SCHOOL STREET, BOSTON, MA 02108 DURING REGULAR BUSINESS HOURS. FORM 9902, PART XII, LINE 2C THE ORGANIZATION HAS AN AUDIT COMMITTEE WHICH PERFORMS THIS FUNCTION.