Women's Business Development Council
184 Bedford Street, Suite 201
Stamford CT 06901
Contact Information
Address 184 Bedford Street, Suite 201
Stamford, CT 06901-
Telephone (203) 353-1750 x
Fax 203-353-1084
E-mail info@ctwbdc.org
Web and Social Media
Financial Coaching Graduation June 2011
Mission
The mission of the Women’s Business Development Council (WBDC) is to support economic prosperity for women and strengthen communities through entrepreneurial and financial education services that create and grow sustainable jobs and businesses across Connecticut. Primarily engaged in microenterprise development, WBDC offers programs in business management and financial education. Microenterprise is a holistic approach to business development that embraces poverty alleviation, human development and economic development strategies.
At A Glance
Year of Incorporation 1997
Former Names
Women's Business Development Center
Organization's type of tax exempt status Public Supported Charity
Organization received a competitive grant from the community foundation in the past five years Yes
Leadership
CEO/Executive Director Fran Pastore
Board Chair Kim Rodney
Board Chair Company Affiliation Connecticut Community Bank
Financial Summary
 
Projected Revenue $1,915,569.00
Projected Expenses $1,914,722.00
Statements
Mission The mission of the Women’s Business Development Council (WBDC) is to support economic prosperity for women and strengthen communities through entrepreneurial and financial education services that create and grow sustainable jobs and businesses across Connecticut. Primarily engaged in microenterprise development, WBDC offers programs in business management and financial education. Microenterprise is a holistic approach to business development that embraces poverty alleviation, human development and economic development strategies.
Background

Established in 1997, WBDC grew out of a need in Connecticut for entrepreneurial training and services for women. WBDC secured a grant in 1998 from the US Small Business Administration (SBA) Office of Women's Business Ownership (OWBO). In 2007, 10 years after receiving its first federal grant WBDC received another grant from the SBA to establish a second WBC in Waterbury.

WBDC now conducts training in the greater Waterbury area and Naugatuck Valley in addition to sites in Bridgeport, Shelton, Norwalk and New Haven County, and is currently expanding into Danbury and Hartford. WBDC offers three types of programs: entrepreneurial training, access to capital, and financial education.

Impact

Overall in 2015, WBDC worked with more than 1800 clients who created or expanded over 240 businesses and sustained and added more than 575 jobs to our economy. Nearly 14% of our clients are female single heads of households, and 33% are racial/ethnic minorities. Since 1997, WBDC has helped women to create over 3,000 jobs and assisted WBDC client businesses to generate more than $50M in annual gross revenues throughout Connecticut. Our most recent survey of budget coaching clients illustrates the following: 100% identified personal financial goals; 93% developed a household budget; 92% gained more control over their finances; 88% developed an action plan to reach goals; 83% consistently tracked income and expenses; 83% developed a habit of paying bills on time; 86% reduced their spending.

Since 1997, WBDC has helped women to create over 3,000 jobs and assisted WBDC client businesses to generate more than $50M in annual gross revenues throughout Connecticut. In 2015, with a staff of 15 full and part-time personnel, WBDC worked with more than 1800 clients who created or expanded over 240 businesses and sustained and added more than 575 jobs to our economy. Selected achievements include:

1) Completing a successful year running the Financial Clinic in Fairfield County and conducting business out of our Shelton office; moving from Shelton to our new offices in Derby.

(2) Leveraging a Federal SBA grant offered to communities impacted by Hurricane Sandy, WBDC developed and launched the Mobile Business Advisory Team. Ongoing from late May 2013, WBDC offers an array of entrepreneurial training initiatives to communities not previously served, including Danbury, Milford, Guilford and Hartford. With a focus on business strategies for growth; financing options and loan packaging assistance; marketing analysis, social media and internet marketing - WBDC business advisors meet with and engage clients to help determine their best course of action to start and grow their small business. 

(3) Growing the personal financial coaching program that was instituted for low to moderate income women to provide education in financial planning and encourage higher education and practices that foster a secure financial future. Includes the FDIC/SBA certified Money Smart workshops, providing basic techniques for improving personal finances, covering a range of topics from Banking, Borrowing, Budgeting to Loans, Financial Management, Home Buying and more. 

(4) The continued growth and evolution of the Access to Capital initiative, designed to provide business owners the technical assistance they need to secure capital.

(5) The implementation of a geographic expansion that is bringing our services to Hartford and Danbury, where we will work to empower women in Connecticut who are eager to grow businesses and gain fiscal independence and were previously underserved. 

(6) The investigation and testing of program models to under-served groups, such as Spanish language-dominant women, and the inclusion of a micro-lending initiative that will round out WBDC’s suite of services and enhance our ability to educate more women and help them achieve their dreams of economic self-reliance through entrepreneurship, financial education and professional development-- dreams that have never been more relevant and important than they are today.

 
Needs
1.  Revenue diversification. 
2. Staff development (training)
3.  Build brand to access income contracts.
4. Optimization of training spaces
5. Unifying and maturing the dedicated development team.
CEO Statement Alert to the changing needs of constituents, communities and economic conditions, as well as the persistent inequity between male and female business owners, the Women’s Business Development Council (WBDC) is a pioneer in responsive programs for women entrepreneurs that fall into three categories—entrepreneurial training, financial education and professional development. As the leader of entrepreneurial and financial education for women in Connecticut our primary goal is economic self reliance for all women. WBDC programs are predicated on research and development activities to improve technical assistance to disadvantaged entrepreneurs. Our vision is that women are educated, empowered and inspired to achieve economic independence for the benefit of themselves and others; their families and their communities. What distinguishes WBDC from other services providers is our unique, holistic and ongoing approach to self empowerment-rather than giving one a fish-we are teaching people how to fish. This promotes a trickle down effect on families and communities. In our 15 years of existence we have stayed the course and remained true to our mission.
Board Chair Statement The Women’s Business Development Council has been my primary non-profit endeavor for the past 5 years, first as a volunteer coach and for the past 4 years as a board member. I served on a variety of committees prior to becoming board chair in 2008. WBDC as a non-profit business and as a board is highly integrated in a number of areas critical to the functioning of any organization: communications, governance, fundraising, programmatic offerings, selection of board members and volunteers, to name a few.
 
To lend perspective on the board itself, we are a hybrid board that is highly involved in strategy, rolling up our sleeves and fund
raising. We are fortunate to have a board composed of professionals and entrepreneurs, several of them attorneys and HR professionals who bring knowledge of appropriate governance and dealing with the few HR concerns that have arisen over the 14 years of WBDC’s existence.
 
Most important, we utilize and consult the policies as situations arise. The Executive Director, Chief Operations Officer and Board Chair and Vice Chair work closely to proactively inquire about the prudence and impact of decisions in light of proper governance. Board members provide great value in keeping a close eye on our governance. Our finance and audit committees are composed of professionals in those fields who have been trusted advisors, helping the board and staff understand risk and investment.

The two primary reasons I’ve devoted considerable time to
WBDC is the level of professionalism and the people on the staff and board. As a management consultant I have worked for both small and Fortune 100 companies and rank WBDC’s level of professionalism and service among the top 3 in my extensive experience.  
Service Categories
Primary Organization Category Community Improvement, Capacity Building / Small Business Development
Secondary Organization Category Education / Adult Education
Tertiary Organization Category Employment / Alliances & Advocacy
Areas Served
Ansonia
Bethany
Branford
Cheshire
Derby
East Haven
Guilford
Hamden
Lower Naugatuck Valley
Madison
Milford
New Haven
North Branford
North Haven
Orange
Oxford
Seymour
Shelton
Shoreline
State wide
Wallingford
West Haven
Woodbridge
Branford
Programs are offered in the following locations that attract participants statewide: Bridgeport, Danbury, Darien, Fairfield, New Haven, Norwalk, Shelton, Stamford, Cheshire, Waterbury, and Hartford.
Programs
Description Small Business Seminars address specific and tactical business practices, such as financial management, marketing and communications, and legal business issues. Seminar topics are developed in response to client feedback and proactively in anticipation of trends. Examples from previous years include: QuickBooks, Public Speaking, Website Development, and Intellectual Property. Course offerings reflect the changing needs of WBDC clients and the business and marketing landscape. Seminars are conducted in the classroom and via Webinars and Teleclasses. Other short-term and midrange programs include Internet Training, which teaches the basics of online techniques and business etiquette and the Hands on Marketing Programs, whichallow participants to come away with a clear direction and a manageable plan for implementing marketing initiatives.
Population Served Females / At-Risk Populations / Adults
Program is linked to organization’s mission and strategy Yes
Program is frequently assessed based on predetermined program goals Yes
Short Term SuccessHelpOrganizations describe near term achievement(s) or improvement(s) that will result from this program. This may represent immediate outcomes occurring as a result of the end of a session or service. The goal of WBDC programs is to nurture an entrepreneurial
mindset and train clients to take control of their futures through education to achieve economic self-reliance and independence. To accomplish these goals, WBDC provides long-term and short-term training, counseling and technical assistance in the areas of finance, management, procurement, and marketing to
emerging or established business owners with special emphasis on women that are socially and economically disadvantaged . WBDC also provides professional development services for women entering or re-entering the workplace.   WBDC serves clients along the continuum of business development - before, during and after and is committed to being a responsive resource as clients needs unfold.
Long Term SuccessHelpOrganizations describe the ultimate change(s) that will result from this program. This may be far into the future and represent an ideal state. WBDC provides a consolidated, integrated, and
holistic approach to entrepreneurial training and career development that embraces poverty alleviation, human development and economic development. WBDC's programs fulfill personal, family, and community needs by helping women create income, build assets, and create jobs.  
WBDC promotes entrepreneurship and small business development through technical assistance; helping women become economically self-sufficient and generating a positive impact on the low-income populations in Connecticut.   WBDC strives to further broaden our capacity and programs for lower income individuals, to provide the kind of intensive
support needed to start and grow successful companies that will both create jobs and revenue for our State and more fully utilize the “human capital” that our clients represent.
Program Success Monitored ByHelpOrganizations describe the tools used to measure or track program impact. WBDC employs a client management system
(VISTASHARE) to manage marketing, track and evaluate participants, and generate reports. Milestones are consistently measured and evaluated and programs are reviewed quarterly. Data collected forms the basis of interim and final
reports. Utilizing this structure, the following outcomes are measured: (1) outreach; (2) assessment; (3) enrollment;
and, (4) completion. Increases are anticipated in the number of: Clients served;     Businesses started and/or expanded;         
Jobs created;      Clients who obtain employment and/or increase their annual income.
Indicators or success include: (1) For potential entrepreneurs: self-sufficiency to supplement their current household income or to become full/time business owners; (2) For existing business owners: assistance with access to capital and
microenterprise development education resulting in increased revenue, increased employee workforce, business stabilization, and improved management. 
Examples of Program SuccessHelpOrganization's site specific examples of changes in clients' behaviors or testimonies of client's changes to demonstrate program success. Our impact on Connecticut families is remarkable. Results of a recent WBDC survey showed that WBDC clients generated an estimated $5.2 million in gross revenue in 2012.  In 2012, WBDC assisted in the creation of nearly 75 new businesses, helped more than 165 existing businesses with current operations resulting in the creation and/or or maintenance of more than 265 new jobs in Connecticut. Through WBDC’s Entrepreneurial Training Programs and Professional Development Services, women from all over Connecticut attended a myriad of high quality innovative programs in 2012. 
Description
Business coaching  assists business owners achieve their goals with practical guidance.
Population Served Females / At-Risk Populations / Adults
Program is linked to organization’s mission and strategy Yes
Program is frequently assessed based on predetermined program goals Yes
Short Term SuccessHelpOrganizations describe near term achievement(s) or improvement(s) that will result from this program. This may represent immediate outcomes occurring as a result of the end of a session or service. WBDC’s workshops and counseling provide expert
training and advice to entrepreneurs with a focus on methods and strategies to secure funds to start or expand a business as well as business plan review and critique. WBDC counselors work with clients to review their current business condition and develop an action plan to move forward. This could include steps to obtain funding, to revitalize credit lines or fine-tune a business plan. Whatever the outcome, all clients are encouraged to maintain a relationship with WBDC to ensure the healthy and sustainable growth of their business.
Long Term SuccessHelpOrganizations describe the ultimate change(s) that will result from this program. This may be far into the future and represent an ideal state.
WBDC provides a consolidated, integrated, and holistic approach to entrepreneurial training and career development that embraces  poverty alleviation, human development and economic evelopment. WBDC's programs fulfill personal, family, and community needs by helping women create income, build assets, and create jobs.   WBDC promotes entrepreneurship and small business development through technical assistance; helping women become economically self-sufficient and generating a positive impact on the low-income populations in Connecticut.  

WBDC strives to further broaden our capacity and programs for lower income individuals, to provide the kind of intensive support needed to start and grow successful companies that will both create jobs and revenue for our State and more fully utilize the “human capital” that our clients represent.
Program Success Monitored ByHelpOrganizations describe the tools used to measure or track program impact.
WBDC employs a client management system
(VISTASHARE) to manage marketing, track and evaluate participants, and generate reports. Milestones are consistently measured and evaluated and programs are reviewed quarterly. Data collected forms the basis of interim and final reports. Utilizing this structure, the following outcomes are measured: (1) outreach; (2) assessment; (3) enrollment;
and, (4) completion. Increases are anticipated in the number of: Clients served;  Businesses started and/or expanded;  Jobs
created;  Clients who obtain employment and/or increase their annual income.
Indicators or success include: (1) For potential entrepreneurs: self-sufficiency to supplement their current household income or to become full/time business owners; (2) For existing business owners: assistance with access to capital and
microenterprise development education resulting in increased revenue, increased employee workforce, business stabilization, and improved management.
Examples of Program SuccessHelpOrganization's site specific examples of changes in clients' behaviors or testimonies of client's changes to demonstrate program success. Results of a recent WBDC survey showed that WBDC clients generated an estimated $5.2 million in gross revenue in 2012.  In 2012, WBDC assisted in the creation of nearly 75 new businesses, helped more than 165 existing businesses with current operations resulting in the creation and/or or maintenance of more than 265 new jobs in Connecticut. Through WBDC’s Entrepreneurial Training Programs and Professional Development Services, women from all over Connecticut attended a myriad of high quality innovative programs in 2012. 
Description


Passion to Profit: WBDC’s Business Development Program is the latest addition to WBDC’s comprehensive suite of entrepreneurial training programs. With a responsive, progressive new curriculum (replacing FastTrac New Venture as of winter session, 2014) this 9-week program helps clients develop a unique business plan and move from concept to new levels of growth. In a dynamic peer support environment, qualified business faculty provides aspiring or emerging business owners with resources, insight, motivation and guidance. Clients utilize an interactive web tool that provides a step-by-step process making it easy to get a business plan completed quickly and with professional results. The course runs nine weeks with an additional personal business counseling session offered at completion.

This program, which offers new and aspiring entrepreneurs a way to formalize and test their plans, helps participants find data sources, research markets, prepare a business plan, and ultimately determine if their business approach is viable.

Population Served Females / At-Risk Populations / Adults
Program is linked to organization’s mission and strategy Yes
Program is frequently assessed based on predetermined program goals Yes
Short Term SuccessHelpOrganizations describe near term achievement(s) or improvement(s) that will result from this program. This may represent immediate outcomes occurring as a result of the end of a session or service. Entrepreneurial Training represents over 92% of WBDC clients, 46% are aspiring entrepreneurs, 30% are established businesses. Results of a recent WBDC survey showed that WBDC clients generated an estimated $5.2 million in gross revenue in 2012.  In 2012, WBDC assisted in the creation of nearly 75 new businesses, helped more than 165 existing businesses with current operations resulting in the creation and/or or maintenance of more than 265 new jobs in Connecticut. Through WBDC’s Entrepreneurial Training Programs and Professional Development Services, women from all over Connecticut attended a myriad of high quality innovative programs in 2012.  In 2012, there were Five Fast Trac 9-wk courses serving 91 clients in 5 communities.
Long Term SuccessHelpOrganizations describe the ultimate change(s) that will result from this program. This may be far into the future and represent an ideal state. WBDC provides a consolidated, integrated, and holistic approach to entrepreneurial training and career development that embraces poverty alleviation, human development and economic development. WBDC's programs fulfill personal, family, and community needs by helping women create income, build assets, and create jobs.   WBDC promotes entrepreneurship and small business development through technical assistance; helping women become economically self-sufficient and generating a positive impact on the
low-income populations in Connecticut.  
WBDC strives to further broaden our capacity and programs for lower
income individuals, to provide the kind of intensive support needed to start and grow successful companies that will both create jobs and revenue for our State and more fully utilize the “human capital” that our clients represent.
Program Success Monitored ByHelpOrganizations describe the tools used to measure or track program impact. WBDC employs a client management system
(VISTASHARE) to manage marketing, track and evaluate participants, and generate reports. Milestones are consistently measured and evaluated and programs are reviewed quarterly. Data collected forms the basis of interim and final
reports. Utilizing this structure, the following outcomes are measured: (1) outreach; (2) assessment; (3) enrollment;
and, (4) completion. Increases are anticipated in the number of: Clients served;     Businesses started and/or expanded;        
Jobs created;      Clients who obtain employment and/or increase their annual income.
Indicators or success include: (1) For potential entrepreneurs: self-sufficiency to supplement their current household income or to become full/time business owners; (2) For existing business owners: assistance with access to capital and
microenterprise development education resulting in increased revenue, increased employee workforce, business stabilization, and improved management.
Examples of Program SuccessHelpOrganization's site specific examples of changes in clients' behaviors or testimonies of client's changes to demonstrate program success. Some long-time working relationship have started with the Fast Trac program... In 1997, Maxene Mulford launched Uniquely U., LLC and although her  business was informal she was achieving repeat business and an enviable reputation.  In 2007, Maxene enrolled in the FastTrac™Growth Course with the WBDC in Stamford CT, “in order to clearly analyze my business mission, use P&L statements to monitor my cash flow and project a long-range plan". The business plans generated can turn a client's vision into a reality. This course was the eye-opening experience Maxene needed to optimize her business.
Maxene's relationship with the WBDC was only just beginning. Her husband, Guy, a retired corporate bond trader, decided to join her at a WBDC Finance Workshop. Thanks to the WBDC QuickBooks class he attended, he has been managing Uniquely U's bottom line ever since. This has enabled Uniquely U. to make a profit while also allowing Maxene to volunteer for WBDC which was always a goal.


 
Description

Access to Capital assists women business owners in assembling loan packages and business plans; provides one-on-one financial consulting to business owners; and assists business owners in the preparation of financial projections they need to present to bank and non bank lenders in order to secure funding. The program helps fledgling and established small businesses access the capital they need in order to grow.

Population Served Females / At-Risk Populations / Adults
Program is linked to organization’s mission and strategy Yes
Program is frequently assessed based on predetermined program goals Yes
Short Term SuccessHelpOrganizations describe near term achievement(s) or improvement(s) that will result from this program. This may represent immediate outcomes occurring as a result of the end of a session or service.
Economic self-reliance is the primary goal of WBDC programs. This goal is based on the assumption that economically disadvantaged individuals lack the training and networks to compete in small business . Clients will achieve
economic self-reliance from revenues of their stable micro-businesses or from new jobs that augment their incomes acquired with new skills from WBDC programs.  Accessing capital is often one of the first hurdles aspiring entrepreneurs must overcome when trying to get a new business off the ground. WBDC's goal is to help women navigate the path that will start them on the course to to fiscal independence.
Long Term SuccessHelpOrganizations describe the ultimate change(s) that will result from this program. This may be far into the future and represent an ideal state.

 

Due to the present economy, much of the work WBDC has conducted in the past several years around aiding clients in their efforts to  access capital has involved first helping them stabilize shaky business operations through sound financial management strategies.

In 2012, WBDC served more than 1,500 participants from nearly all of Connecticut’s 169 cities and towns. We have seen increases in the number of low to moderate income (LMI) clients and in the number of college educated clients. Approximately sixty percent of our clients are LMI, 45% are minority, and all are seeking to improve their lives and the lives of their families with the goal of economic self-reliance. Over the last 15 years we have served over 10,500 people. 

 

Program Success Monitored ByHelpOrganizations describe the tools used to measure or track program impact.

WBDC employs a client management system
(VISTASHARE) to manage marketing, track and evaluate participants, and generate reports. Milestones are consistently measured and evaluated and programs are reviewed quarterly. Data collected forms the basis of interim and final
reports. Utilizing this structure, the following outcomes are measured: (1) outreach; (2) assessment; (3) enrollment;
and, (4) completion. Increases are anticipated in the number of: Clients served;     Businesses started and/or expanded;        
Jobs created;      Clients who obtain employment and/or increase their annual income.

Indicators or success include: (1) For potential entrepreneurs: self-sufficiency to supplement their current household income or to become full/time business owners; (2) For existing business owners: assistance with access to capital and
microenterprise development education resulting in increased revenue, increased employee workforce, business stabilization, and improved management.

Examples of Program SuccessHelpOrganization's site specific examples of changes in clients' behaviors or testimonies of client's changes to demonstrate program success.

Results of a recent WBDC survey showed that WBDC clients generated an estimated $5.2 million in gross revenue in 2012.  In 2012, WBDC assisted in the creation of nearly 75 new businesses, helped more than 165 existing businesses with current operations resulting in the creation and/or or maintenance of more than 265 new jobs in Connecticut. Through WBDC’s Entrepreneurial Training Programs and Professional Development Services, women from all over Connecticut attended a myriad of high quality innovative programs in 2012. 

Description Financial coaching assists clients to achieve personal financial stability.  
Population Served Females / At-Risk Populations / Adults
Program is linked to organization’s mission and strategy Yes
Program is frequently assessed based on predetermined program goals Yes
Short Term SuccessHelpOrganizations describe near term achievement(s) or improvement(s) that will result from this program. This may represent immediate outcomes occurring as a result of the end of a session or service.

Our goal is that 100% of participants come away from financial education training with a better understanding of sound household financial management practices, an understanding of how to successfully utilize financial services and save for the future, and ultimately, decreased debt and increased income. Our findings from 2011 participants show:

      • 80% now utilize household budget
      • 100% consistently kept track of income and expenses
      • 75% reviewed their credit score
      • 75% understood the importance of their credit score
      • 100% learned how to set and identify personal financial goals
      • 75% learned how to manage financial resources and plan for the future
Long Term SuccessHelpOrganizations describe the ultimate change(s) that will result from this program. This may be far into the future and represent an ideal state.

Officially launched in 2010 to address economic self-sufficiency for women whose incomes are low to moderate, the need for help in this sector has grown substantially since its inception. This dynamic program has been designed to focus on building financial security for the working poor, especially people with earnings that put them in a 'wage gap' - those earning too much to qualify for government benefits and too little to be considered financially secure.

By delivering financial education, counseling, and planning services, WBDC enables participants in this program to gain a holistic approach to economic security. The program, one of a kind in the state of Connecticut, coaches participants in fiscal planning and helps master good financial practices. Like all WBDC programs, it has evolved to meet the needs of participants in the changing economic landscape of the past several years.

Our goal is that 100% of participants come away from financial education training with a better understanding of sound household financial management practices, an understanding of how to successfully utilize financial services and save for the future, and ultimately, decreased debt and increased income. Our findings from 2011 participants show:

      • 80% now utilize household budget
      • 100% consistently kept track of income and expenses
      • 75% reviewed their credit score
      • 75% understood the importance of their credit score
      • 100% learned how to set and identify personal financial goals
      • 75% learned how to manage financial resources and plan for the future




Program Success Monitored ByHelpOrganizations describe the tools used to measure or track program impact.

WBDC employs a client management system
(VISTASHARE) to manage marketing, track and evaluate participants, and generate reports. Milestones are consistently measured and evaluated and programs are reviewed quarterly. Data collected forms the basis of interim and final
reports. Utilizing this structure, the following outcomes are measured: (1) outreach; (2) assessment; (3) enrollment;
and, (4) completion. Increases are anticipated in the number of: Clients served;     Businesses started and/or expanded;        
Jobs created;      Clients who obtain employment and/or increase their annual income.

Indicators or success include: (1) For potential entrepreneurs: self-sufficiency to supplement their current household income or to become full/time business owners; (2) For existing business owners: assistance with access to capital and
microenterprise development education resulting in increased revenue, increased employee workforce, business stabilization, and improved management.

Examples of Program SuccessHelpOrganization's site specific examples of changes in clients' behaviors or testimonies of client's changes to demonstrate program success.

I recently finished the budgeting coaching program  and am delighted with my results. From the introduction/ orientaiton at the WBDC offices to the one on one meetings with Lynne I thought the entire process was professional, valuable and helpful. I left with a better understanding of my current finances and goals for my future. I now have the tools to improve my finances over time and achieve my goals. Lynne was caring and committed to my success. I would highly recommend this program to friends and family and know that they would receive excellent education and tools for moving forward with their personal finance. C. Jameson

The budget coaching course finally got me started on a path to getting my financial house in order. I had never built a budget, just paid bills as they came in. Now I have a course of action and have learned to re-prioritize my life.

I really appreciate the quality and content of the course and the support that this program offers.  - M. Edvardsen

 

Program Comments
CEO Comments WBDC provides outreach, training, business counseling, financial coaching and career development programs designed to motivate individuals to achieve economic independence. WBDC programs nurture an entrepreneurial mindset and train clients to take control of their futures through education and coaching.
WBDC programs feature business management, financial education and personal effectiveness, including Passion to Profit which helps hone skills needed to create, manage and grow successful businesses. The financial coaching program is designed specifically to develop a household budget; reduce debt, increase savings, improve credit and build assets.
CEO/Executive Director
Fran Pastore
Term Start Mar 1997
Email Fpastore@ctwbdc.org
Experience (Co-Founder): As President & CEO, Ms. Pastore is responsible for the vision and direction of WBDC.  She manages all matters of external affairs and all interaction with the Board of Directors. Ms. Pastore founded WBDC in 1997 after a five-year tenure with another SBA funded women’s center based in New York City. For 10 years, she advocated for women and small and microenterprise in Connecticut.  In 2002, she was awarded SBA Women in Business Advocate of the Year.
Co-CEO
Email fpastore@ctwbdc.org
Staff
Number of Full Time Staff 13
Number of Part Time Staff 0
Number of Volunteers 150
Number of Contract Staff 7
Staff Retention Rate 80%
Staff Demographics - Ethnicity
African American/Black 0
Asian American/Pacific Islander 1
Caucasian 11
Hispanic/Latino 1
Native American/American Indian 0
Other 0 0
Staff Demographics - Gender
Male 1
Female 12
Unspecified 0
Senior Staff
Title Vice President and Chief Operating Officer
Experience/Biography (Co-Founder): Former business owner and executive at regional not-for-profits, Ms. Bratchell has over 20 years experience in business education, workforce and microenterprisedevelopment, and adult/youth training. Innovative developer of award-winning programs, she oversees risk management, grants, program development and compliance, provides entrepreneurial technical assistance and instruction as well as career coaching. A former teacher, she has been in the
business of adult and continuing education for over twenty-five years.


Formal Evaluations
CEO Formal Evaluation Yes
CEO/Executive Formal Evaluation Frequency Annually
Senior Management Formal Evaluation Yes
Senior Management Formal Evaluation Frequency Annually
Non Management Formal Evaluation Yes
Non Management Formal Evaluation Frequency Annually
Collaborations
WBDC staff collaborates with numerous local, regional and statewide organizations/event organizers including in part: 2012 to present, WBDC staff collaborated and/or participated with : University of Bridgeport: Stamford Campus, Norwalk Community College, Ferguson Library, The Greater New Haven Chamber of Commerce, Connecticut’s Department of Economic and Community Development, Person 2 Person of Darien, Volunteer Center, United Way of Danbury, The Greater Valley Chamber of Commerce, Naugatuck Valley Community College, CEDF, CTCIC, SBA, Waterbury Development Corp., CERC, Valley Regional Adult Education, the Shelton Economic Development Corporation TEAM, Inc., New Milford Library, All our Kin, Norwalk Housing Authority, Norwalk Community College, Yale University, Norwalk Town Hall, Family Services Bridgeport, Operation Hope, Stamford YMCA,  Fairfield Town Hall, United Way’s Valley Council for Health & Human Services, CTSBDC, the Women’s Center at NVCC, Cheshire Public Library, Connecticut’s Permanent Commission on the Status of Women, Stamford’s Innovation Center, WPEO, Department of Commerce, Yale Women’s Campaign School; the Innovation Center and the United Way of New Haven.
Board Chair
Kim Rodney
Company Affiliation Connecticut Community Bank
Term Jan 2014 to Dec 2016
Board of Directors
NameAffiliation
Sandra Bell General Reinsurance
Caroline Calder UBS Financial Services
Patti Clements The CMO Network, LLC
Moira Collins
Angela Conklin Melissa & Doug
Gillian Doucette
Robin Frederick Shipman & Goodwin
Judith Giangoia Wells Fargo
Kerri Holloway
Robin Imbrogno
Basam Nabulsi
Susie Robinson
Valerie Senew
Margaret Sheahan Mitchell & Sheahan
Caroline Simmons
Brenda Thickett The Boston Consulting Group
Jim Thompson Temple University
Kimberly Wiehl
Board Demographics - Ethnicity
African American/Black 1
Asian American/Pacific Islander 0
Caucasian 17
Hispanic/Latino 0
Native American/American Indian 0
Other 0 1
Board Demographics - Gender
Male 2
Female 17
Risk Management Provisions
Accident and Injury Coverage
Directors and Officers Policy
Standing Committees
Marketing
 
 
Financials
Fiscal Year Start Jan 01 2016
Fiscal Year End Dec 31 2016
Projected Revenue $1,915,569.00
Projected Expenses $1,914,722.00
Spending Policy N/A
Credit Line Yes
Reserve Fund Yes
Documents
Form 990s
Form 9902014
Form 9902013
Form 9902012
Form 9902011
Form 9902010
Form 9902009
Form 9902008
Form 9902007
Audit Documents
Audit2014
Audit2013
Audit2012
Audit2011
Audited2010
Audit2009
Audit2008
Audit2007
IRS Letter of Exemption
IRS Determination
Other Documents
Other Documents 3
NameYear
Agency Brochure2011View
Detailed Financials
Prior Three Years Revenue Sources ChartHelpThe financial analysis involves a comparison of the IRS Form 990 and the audit report (when available) and revenue sources may not sum to total based on reconciliation differences. Revenue from foundations and corporations may include individual contributions when not itemized separately.
Fiscal Year201420132012
Foundation and
Corporation Contributions
$525,339$357,397$395,329
Government Contributions$1,142,149$771,286$490,153
Federal------
State------
Local------
Unspecified$1,142,149$771,286$490,153
Individual Contributions------
------
$167,541$85,646$110,813
Investment Income, Net of Losses$1,177$1,375$6,083
Membership Dues------
Special Events$20,000$51,325$46,800
Revenue In-Kind------
Other$61,076$37,740$53,246
Prior Three Years Expense Allocations Chart
Fiscal Year201420132012
Program Expense$1,399,682$1,115,998$1,007,551
Administration Expense$169,557$68,191$64,468
Fundraising Expense$269,711$285,509$75,212
Payments to Affiliates------
Total Revenue/Total Expenses1.040.890.96
Program Expense/Total Expenses76%76%88%
Fundraising Expense/Contributed Revenue16%24%8%
Prior Three Years Assets and Liabilities Chart
Fiscal Year201420132012
Total Assets$570,090$732,431$889,647
Current Assets$548,746$703,772$859,772
Long-Term Liabilities$58,760$234,290$239,300
Current Liabilities$37,732$102,875$90,152
Total Net Assets$473,598$395,266$560,195
Prior Three Years Top Three Funding Sources
Fiscal Year201420132012
Top Funding Source & Dollar AmountCiti Group Foundation $100,000CitiGroup Foundation $46,000 --
Second Highest Funding Source & Dollar AmountFairfield County Community Foundation $77,500Wells Fargo $30,000 --
Third Highest Funding Source & Dollar AmountJP Morgan Chase $35,000 -- --
Solvency
Short Term Solvency
Fiscal Year201420132012
Current Ratio: Current Assets/Current Liabilities14.546.849.54
Long Term Solvency
Fiscal Year201420132012
Long-Term Liabilities/Total Assets10%32%27%
Capitial Campaign
Currently in a Capital Campaign? No
Capital Campaign Anticipated in Next 5 Years? No
Comments
Foundation Staff Comments This profile, including the financial summaries prepared and submitted by the organization based on its own independent and/or internal audit processes and regulatory submissions, has been read by the Foundation. Financial information is inputted by Foundation staff directly from the organization’s IRS Form 990, audited financial statements or other financial documents approved by the nonprofit’s board. The Foundation has not audited the organization’s financial statements or tax filings, and makes no representations or warranties thereon. The Community Foundation is continuing to receive information submitted by the organization and may periodically update the organization’s profile to reflect the most current financial and other information available. The organization has completed the fields required by The Community Foundation and updated their profile in the last year. To see if the organization has received a competitive grant from The Community Foundation in the last five years, please go to the General Information Tab of the profile.
Address 184 Bedford Street, Suite 201
Stamford, CT 06901
Primary Phone 203 353-1750
Contact Email info@ctwbdc.org
CEO/Executive Director Fran Pastore
Board Chair Kim Rodney
Board Chair Company Affiliation Connecticut Community Bank

 

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