2024-09-17T13:05:50-05:00 2023-12-31 223008776 HAEFELE FLANAGAN & CO PC 1000 S LENOLA ROAD MAPLE SHADE NJ 08052 990 2023-07-01 232810092 WOMEN'S BUSINESS ENTERPRISE CENTER EAST WOME 2157909232 123 S BROAD STREET SUITE 500 PHILADELPHIA PA 19109 ELIZABETH WALSH PRESIDENT 2157909232 2024-09-17 1 1 DAVID J GILL JR P00935081 8567225300 2023 2024-08-08 14:25:15Z ELIZABETH WALSH 123 S BROAD STREET SUITE 500 PHILADELPHIA PA 19109 1063681 0 X WWW.WBECEAST.COM X 1995 PA TO FOSTER THE DEVELOPMENT AND RETENTION OF SUCCESSFUL WOMEN-OWNED BUSINESSES. ALSO, TO FACILITATE THE RELATIONSHIP BETWEEN CORPORATIONS, GOVERNMENTS AND WOMEN-OWNED BUSINESSES TO PROVIDE GROWTH AND SUSTAINABILITY. 8 8 18 8 0 0 771449 454715 1014831 571931 1777 1000 -19170 -37328 1768887 990318 0 13000 0 0 1059419 501369 0 0 12310 684835 360316 1744254 874685 24633 115633 2175815 2384182 1058190 1150925 1117625 1233257 X WBEC-EAST IS DEDICATED TO THE ECONOMIC EMPOWERMENT OF WOMEN BY PROVIDING THE MOST RELIED UPON STANDARD FOR CERTIFICATION OF WOMEN-OWNED BUSINESSES, WORLD-CLASS ENTREPRENEURIAL TRAINING AND EDUCATION, TOOLS AND NETWORKING OPPORTUNITIES TO DEVELOP AND GROW SUCCESSFUL BUSINESSES. FORMED IN 1995, WBEC-EAST HAS FOSTERED AND DEVELOPED HUNDREDS OF BUSINESSES BY OFFERING A COMPREHENSIVE MENU OF ENTREPRENEURIAL EDUCATION, TRAINING, ACCESS TO CAPITAL AND WOMEN'S BUSINESS ENTERPRISE (WBE) CERTIFICATION. IN THE PAST YEAR ALONE WBEC-EAST HAS PROVIDED 250+ EDUCATIONAL AND NETWORKING OPPORTUNITIES TO 3000+ WOMEN BUSINESS START-UPS AND OWNERS. WBEC-EAST FACILITATES RELATIONSHIPS AND PROCUREMENT OPPORTUNITIES FOR WOMEN-OWNED BUSINESSES AND CORPORATIONS WITH SUPPLIER DIVERSITY INITIATIVES. WBEC-EAST SERVES A BROAD SPECTRUM OF WOMEN FROM ALL SOCIO-ECONOMIC BACKGROUNDS INCLUDING ASPIRING MICRO-ENTREPRENEURS TO OWNERS OF MULTI-GENERATION ESTABLISHED WOMEN-OWNED COMPANIES. 0 0 130897 12630 WBEC-EAST PROVIDES START UP, EMERGING AND ESTABLISHED ENTREPRENEUR'S VIRTUAL EDUCATION AND TRAINING WORKSHOPS TO BECOME SUCCESSFUL. THESE EDUCATION AND TRAINING WORKSHOPS INCLUDE: MARKET RESEARCH, FINANCIAL ANALYSIS, BUSINESS PLANNING, BUSINESS COACHING ETC. 544869 500325 WBEC-EAST THROUGH ITS PARTNERSHIP WITH WOMEN'S BUSINESS ENTERPRISE NATIONAL COUNCIL ("WBENC") PROVIDES CERTIFICATIONS TO WOMEN-OWNED BUSINESSES. THESE CERTIFICATIONS ARE USED AS A MARKETING TOOL FOR EXPANDING A COMPANY'S VISIBILITY AND ACCESS TO DECISION MAKERS IN SUPPLIER DIVERSITY AND PROCUREMENT OFFICES. 58976 WBEC-EAST PROVIDES AN OPPORTUNITY FOR CORPORATIONS AND GOVERNMENTAL ENTITIES TO SHOW THEIR SUPPORT FOR WOMEN-OWNED BUSINESSES BY WAY OF A SUPPLIER DIVERSITY COUNCIL. THIS ALLOWS OUR CORPORATE AND GOVERNMENT PARTNERS TO PARTAKE IN SUPPLIER DIVERSITY NETWORKING AND TRAINING EVENTS, GAIN CONFIDENCE IN AWARDING CONTRACTS TO CERTIFIED WOMEN-OWNED BUSINESSES, AND DEVELOP AND EXPAND THEIR OUTREACH PROGRAMS TO MEET THEIR SUPPLIER DIVERSITY GOALS. 13000 13000 WBEC-EAST SOLICITS FUNDS THAT ARE DEDICATED TO INTERNAL SCHOLARSHIP AND GRANTS. SCHOLARSHIPS AND GRANTS ARE ISSUED TO OFFSET FEES TO ATTEND VARIOUS ENTREPRENEURIAL TRAINING PROGRAMS FOR WOMEN STARTING OR GROWING THEIR BUSINESS. RECIPIENTS OF THESE FUNDS ARE ADVISED OF THE BENEFACTOR. 13000 13000 688766 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 7 0 1 18 1 0 0 0 0 0 0 0 0 0 0 X 8 8 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 PA X ELIZABETH WALSH PRESIDENT 2157909232 123 S BROAD STREET SUITE 500 PHILADELPHIA PA 19109 GEORGE EHRGOTT DIRECTOR 2.00 X 0 0 0 NANCY GUNZA CPA TREASURER 2.00 X X 0 0 0 CECILIA ISAACS-BLUNDIN CHAIR 2.00 X X 0 0 0 CYNTHIA FUNARO TOWERS ESQ VICE CHAIR 2.00 X X 0 0 0 VERNICE LEWIS DIRECTOR 2.00 X 0 0 0 LIV CARTER DIRECTOR 2.00 X 0 0 0 ALLEN RIDDICK DIRECTOR 2.00 X 0 0 0 DALE BUDDINE DIRECTOR 2.00 X 0 0 0 ELIZABETH WALSH PRESIDENT 40.00 X 207066 0 14796 207066 0 14796 1 0 1 0 0 98767 100000 255948 454715 CERTIFICATION FEES 611430 500325 500325 PARTNERSHIP DUES 611430 58976 58976 TRAINING FEES 611430 11405 11405 PROGRAM EVENT INCOME 611430 1225 1225 571931 1000 1000 36035 98767 73363 -37328 -37328 990318 571931 0 -36328 13000 13000 97094 97094 321188 233502 87686 53618 50891 2727 29469 23679 5790 122609 103347 19262 53881 22313 31568 5207 85 5122 15007 7847 6435 725 20618 17715 761 2142 58106 47093 11013 10875 8855 238 1782 628 200 428 9404 7548 1856 4500 3578 922 MERCHANT FEES 21650 19065 46 2539 CREDIT LOSS EXPENSE 13490 13490 0 0 TEMPORARY AGENCY FEES 6641 6641 0 0 EQUIPMENT LEASE AND MAI 5036 4061 975 0 12664 8762 3902 874685 688766 173609 12310 183684 236099 971179 1014239 150490 301216 44194 48037 130930 72687 53068 58243 773200 726348 2175815 2384182 163082 101031 122341 321455 772767 728439 1058190 1150925 X 1085184 1211052 32441 22205 1117625 1233257 2175815 2384182 115633 0 X X 0 1 X 1 0 X 816497 1076463 887201 1166926 789587 4736674 825120 916371 901753 970165 512955 4126364 1641617 1992834 1788954 2137091 1302542 8863038 0 0 0 8863038 4840 1982 1353 1777 1000 10952 4840 1982 1353 1777 1000 10952 1646457 1994816 1790307 2138868 1303542 8873990 0.99880 0.99830 0.00120 0.00170 X PART III, SHORT YEAR EXPLANATION: WOMENS BUSINESS ENTERPRISE CENTER EAST HAD A JUNE 30 YEAR END AND SWITCHED TO A DECEMBER 31 YEAR END. THIS CHANGE IN YEAR WAS THE CAUSE OF A SHORT YEAR RETURN. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 130930 72687 58243 58243 SECURITY DEPOSIT 32751 OPERATING LEASE RIGHT-OF-USE ASSETS, NET 693597 726348 OPERATING LEASE LIABILITIES, CURRENT 84495 OPERATING LEASE LIABILITIES, NON-CURRENT 643944 728439 X 1303542 313224 313224 990318 0 990318 1187909 313224 313224 874685 0 874685 PART X, LINE 2: WBEC-EAST IS A NOT-FOR-PROFIT ORGANIZATION THAT IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. WBEC-EAST FOLLOWS THE ACCOUNTING GUIDANCE FOR UNCERTAINTY IN INCOME TAXES, WHICH PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN AND ALSO PROVIDES GUIDANCE ON VARIOUS RELATED MATTERS SUCH AS DERECOGNITION, INTEREST, PENALTIES, AND DISCLOSURES REQUIRED. WBEC-EAST BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITION TAKEN, AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. WBEC-EAST'S FEDERAL EXEMPT ORGANIZATION INCOME TAX RETURNS (FORM 990) FOR 2020, 2021, 2022, AND FISCAL YEAR 2023 ARE SUBJECT TO EXAMINATION BY THE IRS, GENERALLY FOR THREE YEARS AFTER THEY WERE FILED. NETWORKING DINNER 134802 98767 36035 61406 676 11281 134802 98767 36035 61406 676 11281 73363 -37328 1 SCHOLARSHIP GRANT 1 10000 PART I, LINE 2: THERE ARE SPECIFIC ELIGIBILITY REQUIREMENTS THAT AN APPLICANT MUST ADHERE TO IN ORDER TO SUBMIT AN APPLICATION FOR THE GRANT. A LIST OF ALLOCABLE EXPENSES IS PROVIDED IN THE GRANT DESCRIPTION FOR AN APPLICANT TO REVIEW AND INCLUDE IN A BUSINESS PLAN. A SELECTION COMMITTEE HAS BEEN CREATED THAT IS COMPRISED OF THE GRANTOR, THE WBEC-EAST BOARD, AND STAFF MEMBERS. THIS COMMITTEE REVIEWS ALL APPLICANTS AND UTILIZES A GRADING RUBRIC. ONCE AWARDED, THE FINAL RECEIPIENT IS REQUIRED TO SEND AN ACKNOWLEDGEMENT LETTER TO THE GRANTOR, SUBMIT A W9, ATTEND THE ANNUAL FUNDRAISER, AND SUBMIT RECEIPTS AS PROOF OF PURCHASE FOR THE ALLOCABLE EXPENSES WITH IN 120 DAYS OF RECEIPT OF GRANT FUNDS. 1 X X 0 0 0 0 0 0 0 0 0 ELIZABETH WALSH PRESIDENT 207066 0 0 0 0 0 0 0 14796 0 221862 0 0 0 PART I, LINE 3 THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS MEETS AND DISCUSSES COMPENSATION OF THE PRESIDENT ANNUALLY. CONSIDERATION IS GIVEN TO COMPENSATION OF CEO'S AND/OR PRESIDENT'S OF SIMILAR ORGANIZATIONS USING THE REPORTED EARNINGS IN THEIR FORM 990'S AND OTHER PUBLICALLY AVAILABLE SOURCES. THE EXECUTIVE COMMITTEE RECOMMENDS COMPENSATION ACTIONS TO THE FULL BOARD FOR APPROVAL ANNUALLLY. FORM 990, PART VI, SECTION B, LINE 11B THE ORGANIZATION'S FINANCE COMMITTEE OF THE BOARD OF DIRECTORS AND PRESIDENT REVIEW THE 990 TOGETHER TO VERIFY THE AMOUNTS REPORTED AGREE WITH THE ORGANIZATION'S AUDITED FINANCIAL STATEMENTS FOR THE YEAR AND ALL QUESTIONS ARE ANSWERED ACCURATELY. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION DISCUSSES ANY CONFLICT OF INTEREST UPON ADDING NEW BOARD MEMBERS AND DISCUSSES, ANNUALLY, TO ENSURE THERE ARE NO CONFLICTS OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15A THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS MEETS AND DISCUSSES COMPENSATION OF THE PRESIDENT ANNUALLY. CONSIDERATION IS GIVEN TO COMPENSATION OF CEO'S AND/OR PRESIDENT'S OF SIMILAR ORGANIZATIONS USING THE REPORTED EARNINGS IN THEIR FORM 990'S AND OTHER PUBLICALLY AVAILABLE SOURCES. THE EXECUTIVE COMMITTEE RECOMMENDS COMPENSATION ACTIONS TO THE FULL BOARD FOR APPROVAL ANNUALLLY. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990 PART XII LINE 2C THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.