Wisconsin Women's Business
Wisconsin Women's Business Initiative Corporation (WWBIC) is a statewide nonprofit organization headquartered in Milwaukee, Wisconsin. Established in 1987, WWBIC operates as an innovative economic development corporation serving micro-enterprises and small businesses throughout Wisconsin. The organization also functions as the Veterans Business Outreach Center for Wisconsin, Illinois, and Minnesota.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$40.5M
-11.5% YoY
Annual Giving
$74K
-53.5% YoY
Grant Count
7
-58.8% YoY
Avg Grant Size
$11K
+13.0% YoY
Mission & Focus Areas
WWBIC's mission is "Putting Dreams to Work" by assisting individuals interested in starting, strengthening, or expanding businesses with access to critical resources. The organization specifically targets underserved populations facing barriers to business financing and training support, including women, people of color, veterans, rural residents, and lower-wealth individuals.
Primary service areas include:
- Small business loans and financial products
- Business training and education
- Personal financial training
- 1-on-1 consulting services
- Business Boost program — designed to narrow the racial wealth gap by encouraging entrepreneurs
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Geographic Focus
Where this funder awards grants
WWBIC serves 72 counties throughout Wisconsin, operating as a statewide organization. The organization also extends its Veterans Business Outreach Center services to Illinois and Minnesota.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
As of 2023:
- Total Assets: $45.8 million
- Total Liabilities: $33.2 million
- Total Revenue: $15.6 million
- Total Expenses: $13.4 million
- Total Giving: $3.6 million
Staffing: Approximately 77 employees
Annual Revenue (recent): $4.9 million
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $40,524,297 | $45,798,214 | $45,566,731 |
| Revenue | $8,906,648 | $15,588,925 | $9,606,906 |
| Expenses | $13,984,745 | $13,421,078 | $9,384,182 |
| Qualifying Distributions | — | — | — |
| Net Investment Income | $2,007,519 | $2,160,106 | $1,539,570 |
| Distributable Amount | — | — | — |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 7 recipients in 2024
Grant Size Distribution
155 grants across all recorded years
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Leadership team and compensation from IRS filings
Wendy K. Baumann — President/Chief Visionary Officer
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| WENDY K BAUMANN | PRESIDENT | 40 | $188,770 |
| STEVE SALOUTOS | PAST CHAIRPERSON | 1 | — |
| JOHNY L MOUTRY JR | CHAIRPERSON | 1 | — |
| KATE HILL | VICE CHAIRPERSON | 1 | — |
| KATHRYN ANDREA | TREASURER | 1 | — |
| JOHN M STEWART | SECRETARY | 1 | — |
| LORISSA R BANUELOS | DIRECTOR | 1 | — |
| WILLIAM COLEMAN | DIRECTOR | 1 | — |
| KARIN GALE | DIRECTOR | 1 | — |
| LISA JOHNSON | DIRECTOR | 1 | — |
| MICHAEL MCDONAGH | DIRECTOR | 1 | — |
| KIP RITCHIE | DIRECTOR | 1 | — |
| JON GAINES | VP BUSINESS AND FINANCE | 40 | $163,740 |
| MICHAEL HETZEL | DIRECTOR OF LENDING | 40 | $109,516 |
| CHRISTINA KNUDSEN | VP DEVELOPMENT AND COMMUNITY | 40 | $137,662 |
| HEATHER LUX | REGIONAL DIRECTOR- SE | 40 | $112,714 |
| KIMBERLY ZEULI | SMALL BUS. FINANCE FWRD PROJ. | 40 | $250,115 |
Recent Activity & Funding
Recent developments and announcements
WWBIC has received recent grant funding including:
$500,000 grant from Community Development Financial Institutions Fund (April 2023)
$500,000 grant from Wells Fargo (August 2019)
The organization maintains an active funding portfolio with total funding of $2.0 million across multiple rounds.
WEDC: Announces $1.5 million in grants to support small businesses acrossRelated Funders
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Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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