WomenVenture

Mission Statement

WomenVenture helps women attain economic self-sufficiency through the creation and growth of profitable and sustainable businesses.

Impact and Programs

Accomplishments In our fiscal year ending June 30, 2019 (FY19), WomenVenture served 1,162 established and emerging entrepreneurs. We provided 8,000 hours of entrepreneurial training through six core training programs designed to address our clients’ needs at each stage of business development. WomenVenture’s in depth training classes are accompanied by one-on-one mentoring and peer circles both during and following completion of the class, and last year we provided 1,000 hours of individualized attention to training clients. Through experience, we have found this personalized coaching can have deep impact on a woman’s ability to overcome the unique barriers she faces with her personal skills or business obstacles. Lending is also an integral part of WomenVenture’s offerings because without access to capital many of our clients’ businesses would be unable to launch or grow. In FY19, we lent $764,000 to 38 businesses. Each of our loans is paired with business coaching to ensure the success of the business. Last year, our loan clients accessed 3,500 hours of support for their businesses through our staff and volunteer network. While FY19 client business results are still pending, in FY18 WomenVenture clients started or expanded 206 small businesses and paid themselves on average $26/hour. Their businesses created or retained 916 jobs with an average employee wage of $20/hour, and generated $54.5 million in gross revenue, contributing $6.9 million in income tax revenue to the local economy.
Current Goals In our fiscal year ending June 30, 2020, our goals are to serve 1,188 clients interested in pursuing entrepreneurship, provide 7,000 hours of training, 4,000 hours of coaching and distribute $1,000,000 in loan capital to small businesses. With access to our services, we hope to help women start or expand 228 businesses, create or retain 1,091 jobs, and generate revenues in excess of $50,000,000.
Community or Constituency Served WomenVenture empowers entrepreneurial women from diverse backgrounds in the 15-county Twin Cities Metro area. We maintain a particular focus on communities who are under-represented in the traditional business community and under-served by its support structures. Last year, our clients were 95% female, 62% low income and 49% people of color.
Geographic Area Served WomenVenture serves the 15 county Twin Cities metro area.

Reports & Finances

If you have additional questions regarding a nonprofit's financials, visit their website, or call and ask to review their IRS Form 990, Annual Report, or Audit for a more complete picture of their financial story.
Major Program Expenses
Business development:
$1,617,158
3 Year Average Expenses
Program Services
$539,053
79.4%
Management
$58,097
8.6%
Fundraising
$81,750
12%
Unrestricted Net Assets
End of Year:
Beginning of Year:
Difference:

$0
$0
$0
2017
$852,898
$746,699
$106,199

Organization Last Reviewed on 07/24/2019

This date is representative of when we completed our initial Accountability Wizard® nonprofit review, and provided the organization with their results. This review is good for three years from the date provided
Return to List of Reviewed Nonprofits

Connect

Address:
2021 E Hennepin Ave, Suite 200
Minneapolis, MN 55413
Phone: 612-224-9450
Website: womenventure.org

General Information

Alternative Name: Women Venture, Women's Venture, Women Ventures, Chart, Wedco
EIN: 41-1463426
Principal Staff: Elaine Wyatt
Number of Full-Time Equivalents (FTE): 18
Volunteer Opportunities: Yes
Number of Clients: 1074
Ruling Year: 1984

Board

Board Chair: Jenny Verner
Number of Board Members: 25
Board Meetings with Quorum: 6
Average Member Attendance: 17.3

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Let’s Connect

700 Raymond Avenue, Suite 160 • Saint Paul, MN 55114
Phone: (651) 224–7030 • E-mail: info@smartgivers.org

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