Wisconsin Women's Business Initiative Corporation
Wisconsin Women’s Business Initiative Corporation (WWBIC), based in Milwaukee, is a Wisconsin public charity and statewide economic development corporation founded in 1987. It supports people interested in starting, strengthening, or expanding businesses through access to financial products, business and personal financial training, and individualized coaching.
Wisconsin Women's Business Initiative Corporation at a glance
In short: Wisconsin Women's Business Initiative Corporation gave $74K across 7 grants in 2024 (avg $11K), mostly in Wisconsin. Source: 2024 IRS Form 990.
- Annual giving (2024)
- $73,500
- -53.5% vs 2023
- Grants made (2024)
- 7
- -58.8% vs 2023
- Average grant
- $10,500
- +13.0% vs 2023
- Median grant
- $9,000
- Total assets
- $40,524,297
- -11.5% vs 2023
- Primary geography
- Wisconsin (100% of itemized 2024 grant dollars)
- Latest 990 filing
- Form 990, 2024 View filing
Data from IRS Form 990, 2024; updated September 2026.
How to apply to Wisconsin Women's Business Initiative Corporation
- Contact
Mailing address: 1533 N Rivercenter Drive, Milwaukee, WI 53212
Phone: (414) 263-5450
Website: https://wwbic.com
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Who Wisconsin Women's Business Initiative Corporation funds
How this funder distributes its grants
Top Recipients
Top 7 recipients in 2024
The largest 2024 recipient was K&K Barista LLC ($18K). Together the top 7 received $74K.
Grant Size Distribution
352 grants across all recorded years
The most common grant size was under $50K: 351 grants of 352 (100%).
Geographic Focus
Where this funder awards grants
WWBIC describes its services and training as statewide in Wisconsin. All recipients listed for its 2024 grants were in Wisconsin.
Grant Distribution by State
Share of 2024 grant dollars across all 7 itemized grants.
States
Cities
How Wisconsin Women's Business Initiative Corporation gives
- Giving fell 91% from 2021 to 2024. Method
From the foundation's IRS Form 990 filings. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2024, annual grant giving ranged from $74K (2024) to $1.9M (2020). In 2024 it made 7 grants totaling $74K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| K&K Barista LLC West Allis, WI | Small Business Assistance | $18,000 |
| Culturally Diverse Counseling Center LLC West Allis, WI | Small Business Assistance | $10,000 |
| Kennedy's Circle of Wellness Milwaukee, WI | Small Business Assistance | $10,000 |
| Great Impressions LLC Milwaukee, WI | Small Business Assistance | $9,000 |
| Respiratory Urgent LLC Glendale, WI | Small Business Assistance | $9,000 |
| Tropic LLC Milwaukee, WI | Small Business Assistance | $9,000 |
| 5 Star Business Center Milwaukee, WI | Small Business Assistance | $8,500 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Net Investment Income |
|---|---|---|---|---|---|---|
| 2024 | $40,524,297 | $8,906,648 | $13,984,745 | $73,500 | 7 | $2,007,519 |
| 2023 | $45,798,214 | $15,588,925 | $13,421,078 | $157,985 | 17 | $2,160,106 |
| 2022 | $45,566,731 | $9,606,906 | $9,384,182 | $363,075 | 31 | $1,539,570 |
| 2021 | $42,014,379 | $10,583,804 | $9,253,441 | $791,469 | 76 | $1,439,045 |
| 2020 | $37,286,201 | $11,600,651 | $9,704,641 | $1,937,254 | 221 | $1,566,758 |
Research compiled by Grantable AI from public sources. Last updated September 2026.
Mission & Focus Areas
WWBIC’s mission is “Putting Dreams to Work.” It provides financial products and business and personal financial training to individuals interested in starting, strengthening, or expanding businesses. Its services include credit and financial wellness support, entrepreneurship training, lending, and individualized technical assistance.
In FY 2024, WWBIC reported closing 64 small-business and microloans totaling $7,051,978. It also reported providing 29,636 counseling and training hours to 4,599 entrepreneurs and potential entrepreneurs. Its 2024 filing says it administered a diverse business investment grant, but does not give further details about that grant.
Grantmaking
In filing year 2024, WWBIC reported seven grants totaling $73,500. Grants ranged from $8,500 to $18,000, with a median of $9,000; all reported grant dollars went to Wisconsin recipients. The largest award was $18,000 to K&K Barista LLC in West Allis. Other recipients were Culturally Diverse Counseling Center LLC and Kennedy’s Circle of Wellness, each with $10,000; Great Impressions LLC, Respiratory Urgent LLC, and Tropic LLC, each with $9,000; and 5 Star Business Center, with $8,500. Each grant was listed for “small business assistance.”
Leadership & Key People
Leadership team and compensation from IRS filings
Officers and directors listed on the 2024 filing:
- Wendy K. Baumann — President
- Johny L. Moutry Jr. — Chairperson
- Steve Saloutos — Past Chairperson
- Kate Hill — Vice Chairperson
- Kathryn Andrea — Treasurer
- John M. Stewart — Secretary
- Lorissa R. Banuelos — Director
- William Coleman — Director
- Karin Gale — Director
- Lisa Johnson — Director
Wisconsin Women's Business Initiative Corporation is led by Wendy K. Baumann, President on every filing since 2020; 6 of 17 officers listed in 2024 are compensated.
Officers on the 2024 filing
Wendy K. Baumann
President
On filings since 2020
40 hrs/week
$146K (2020) → $189K (2024)
Johny L. Moutry Jr.
Chairperson
Vice Chairperson & Secretary → Vice Chair & Secretary, 2022
Vice Chair & Secretary → Chairperson, 2023
On filings since 2020
1 hr/week
No compensation reported
Heather Lux
Regional Director- Se
Regional Director - Se → Regional Director- Se, 2024
On filings since 2022
40 hrs/week
$105K (2022) → $113K (2024)
Michael Hetzel
Director of Lending
New on the 2024 filing
40 hrs/week
$110K (2024)
Karin Gale
Director
On filings since 2020
1 hr/week
No compensation reported
Kip Ritchie
Director
On filings since 2020
1 hr/week
No compensation reported
Lisa Johnson
Director
On filings since 2020
1 hr/week
No compensation reported
Michael McDonagh
Director
Chairman → Director, 2021
On filings since 2020
1 hr/week
No compensation reported
William Coleman
Director
On filings since 2020
1 hr/week
No compensation reported
Lorissa R. Banuelos
Director
On filings since 2021
1 hr/week
No compensation reported
Jon Gaines
Vice President Business & Finance
CFO → Vice President Business & Finance, 2022
On filings since 2020
40 hrs/week
$115K (2020) → $164K (2024)
Christina Knudsen
Vice President Development & Community
Vice President Development & Communications → Vice President Development & Community, 2024
On filings since 2022
40 hrs/week
$124K (2022) → $138K (2024)
Kimberly Zeuli
Small Bus. Finance Fwrd Proj.
Small Business Finance Forward Project Manager → Small Business Finance for, 2023
Small Business Finance for → Small Bus. Finance Fwrd Proj., 2024
On filings since 2022
40 hrs/week
$191K (2022) → $250K (2024)
Kate Hill
Vice Chairperson
Director → Vice Chairperson, 2023
On filings since 2020
1 hr/week
No compensation reported
Kathryn Andrea
Treasurer
On filings since 2020
1 hr/week
No compensation reported
Steve Saloutos
Past Chairperson
Vice President → Chairperson, 2021
Chairperson → Past Chairperson, 2023
On filings since 2020
1 hr/week
No compensation reported
John M. Stewart
Secretary
Director → Secretary, 2023
On filings since 2021
1 hr/week
No compensation reported
Former officers (2)
- Former: Kamaljit Jackson (2022–2023) — Vice President Programs & Operations
- Former: Beth Wnuk (2020) — Director
Data from IRS Form 990 filings, 2020–2024. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2024 IRS filing
The highest reported compensation on the 2024 filing was $250K, to Kimberly Zeuli (Small Bus. Finance FWRD Proj.). 6 officers or directors reported compensation on that filing.
Frequently asked questions about Wisconsin Women's Business Initiative Corporation
How much does Wisconsin Women's Business Initiative Corporation give each year?
Wisconsin Women's Business Initiative Corporation gave $74K across 7 grants in 2024, according to its 2024 IRS Form 990. In 2023 it gave $158K across 17 grants.
What is Wisconsin Women's Business Initiative Corporation's typical grant size?
Wisconsin Women's Business Initiative Corporation's median grant in 2024 was $9,000, and its average grant was $10,500, across 7 grants on its 2024 IRS Form 990.
Where does Wisconsin Women's Business Initiative Corporation give grants?
Wisconsin Women's Business Initiative Corporation gives mostly in Wisconsin: 100% of the grant dollars itemized on its 2024 IRS Form 990 went to recipients there. The most frequent recipient cities were Milwaukee, WI (4 grants) and West Allis, WI (2 grants).
Does Wisconsin Women's Business Initiative Corporation give general operating support?
Not in 2024: none of the 7 grants with a stated purpose on Wisconsin Women's Business Initiative Corporation's 2024 IRS Form 990 were described as general or operating support. Recurring purposes include "Small Business Assistance" (7 grants).
Who are Wisconsin Women's Business Initiative Corporation's largest grantees?
Wisconsin Women's Business Initiative Corporation's largest 2024 grantees include K&K Barista LLC ($18,000), Culturally Diverse Counseling Center LLC ($10,000) and Kennedy's Circle of Wellness ($10,000), according to its 2024 IRS Form 990. Together they received 52% of its itemized 2024 grant dollars.
How large is Wisconsin Women's Business Initiative Corporation?
Wisconsin Women's Business Initiative Corporation reported $40.5M in total assets on its 2024 IRS Form 990. Its revenue that year was $8.9M.
What does Wisconsin Women's Business Initiative Corporation fund?
WWBIC’s mission is “Putting Dreams to Work.” It provides financial products and business and personal financial training to individuals interested in starting, strengthening, or expanding businesses. See mission & focus areas ↑
How do I apply for a grant from Wisconsin Women's Business Initiative Corporation?
Wisconsin Women's Business Initiative Corporation has no public application process in the sources Grantable reviewed. Check wwbic.com for current guidelines, or contact the foundation directly before submitting a request.
What is Wisconsin Women's Business Initiative Corporation's EIN?
Wisconsin Women's Business Initiative Corporation's EIN (Employer Identification Number) is 39-1597954. IRS Form 990 filing data is available on this page for 2020–2024.
Data last updated September 2026. Sourced from IRS Form 990 filings. Research dossier generated September 2026.
Data update history
(6)
When this profile's IRS filing data changed on Grantable
- Updated Form 990 for fiscal year 2020 (received by the IRS November 15, 2021)
- Updated Form 990 for fiscal year 2021 (received by the IRS September 29, 2022)
- Updated Form 990 for fiscal year 2022 (received by the IRS November 14, 2023)
- Updated Form 990 for fiscal year 2023 (received by the IRS November 14, 2024)
- Updated Form 990 for fiscal year 2024 (received by the IRS November 17, 2025)
- IRS filings on file for fiscal years 2020–2024
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