Women's Business Development Center
The Women’s Business Development Center (WBDC) is a public charity based in Chicago, Illinois, formed in 1986. It supports business development and growth through services for business owners and makes grants to organizations providing entrepreneur assistance and other business support.
Key facts about Women's Business Development Center
In short: Women's Business Development Center gave $5.5M across 50 grants in 2025 (avg $111K), mostly in Illinois. 80% of 2025 grantees were new. Source: 2025 IRS Form 990.
- EIN
- 36-3488628
- Latest 990 filing
- Form 990, 2025
- Annual giving (2025)
- $5,548,700
- Grants made (2025)
- 50
- Average grant
- $110,974
- Median grant
- $75,000
- New grantees (estimate)
- 80% first-time grantees (40 of 50, 2025)
- Total assets
- $8,948,495
- Primary geography
- Illinois (96% of itemized 2025 grant dollars)
Data from IRS Form 990, 2025; updated September 2026. New grantees are estimated by matching recipient names across years (methodology).
Financial Overview
From 2025 IRS Form 990 · View filing
Total Assets
$8.9M
-12.5% YoY
Annual Giving
$5.5M
-89.3% YoY
Grant Count
50
-98.3% YoY
Avg Grant Size
$111K
+544.3% YoY
Is Women's Business Development Center open to new grantees?
80%
first-time grantees, 2025
In 2025, 40 of 50 grantees (80%) were first-time recipients. First grants averaged $87K; repeat grants $207K. How we count
Medians: $75K first-time, $163K repeat.
Estimate from itemized grant lists in IRS Form 990 filings (2021–2025). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Mission & Focus Areas
WBDC states that its mission is to support and accelerate business development and growth, serving all business owners to strengthen their participation in and impact on the economy.
Its described programs include financial assessment and counseling, loan application assistance and direct lending; workshops, certification services, contracting assistance and business advising for established businesses; and counseling and workshops for people starting or developing a business. WBDC also provides Women’s Business Enterprise certification through a partnership with the Women’s Business Enterprise National Council in a nine-state Midwest region.
The 2025 grants show support for organizations providing technical assistance to entrepreneurs, as well as cannabis business assistance grants. Among its grantees, the Illinois Restaurant Association says its mission is to build the future hospitality industry through career exploration, workforce development and scholarships. Berwyn Development Corporation says it supports activities contributing to Berwyn’s economic growth and vitality. Chicago Urban League describes its work as fostering economic empowerment, cultivating leadership and dismantling systemic barriers for lasting equity and prosperity for Black Chicago. Greater Southwest Development Corporation describes its mission as building and sustaining a vital Greater Southwest Chicago community and improving quality of life for residents, businesses and industries.
Grantmaking
In 2025, WBDC reported 50 grants totaling $5,548,700. Grant amounts ranged from $16,869 to $368,105, with a median grant of $75,000. The largest grants included:
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Geographic Focus
Where this funder awards grants
In 2025, 96% of grant dollars went to recipients in Illinois and 4% to recipients in Colorado.
Grant Distribution by State
Share of 2025 grant dollars across all 50 itemized grants.
Cities
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2025, annual grant giving ranged from $908K (2022) to $51.9M (2024). In 2025 it made 50 grants totaling $5.5M.
Hatched bars: grants paid as reported on the IRS filing, which lists no individual grants for that year.
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2025
The largest 2025 recipient was Illinois Hispanic Chamber of Commerce ($368K). Together the top 10 received $2.2M.
Grant Size Distribution
5,401 grants across all recorded years
The most common grant size was under $50K: 5,329 grants of 5,401 (99%).
Giving History
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Illinois Hispanic Chamber of Commerce Chicago, IL | Business Support Organizations Providing Technical Assistance to Entrepreneurs. | $368,105 |
| Illinois Restaurant Association Chicago, IL | Business Support Organizations Providing Technical Assistance to Entrepreneurs. | $321,693 |
| Berwyn Development Corporation Berwyn, IL | Business Support Organizations Providing Technical Assistance to Entrepreneurs. | $311,116 |
| Allies for Community Business Fka Accion Chicago Inc Chicago, IL | Business Support Organizations Providing Technical Assistance to Entrepreneurs. | $303,771 |
| Southland Development Authority Chicago, IL | Business Support Organizations Providing Technical Assistance to Entrepreneurs. | $168,509 |
| Chicago Minority Supplier Development Council Inc Chicago, IL | Business Support Organization Providing Technical Assistance to Entrepreneurs. | $156,817 |
| 33RD Division a Minority Veterans Unit LLC Denver, CO | Cannabis Business Assistance Grants | $150,000 |
| Galaxy Labs LLC Tinley Park, IL | Cannabis Business Assistance Grants | $150,000 |
| HT23 Custom Crafters LLC Frankfort, IL | Cannabis Business Assistance Grants | $150,000 |
| Public Square LLC Chicago, IL | Cannabis Business Assistance Grants | $150,000 |
Financial History
Multi-year comparison from IRS filings
| Filing year | Assets | Revenue | Expenses | Grants reported |
|---|---|---|---|---|
| 2025 | $8,948,495 | $15,218,918 | $16,280,164 | $5,548,700 across 50 grants |
| 2024 | $10,230,080 | $64,780,073 | $63,424,693 | $51,946,146 across 3,016 grants |
| 2023 | $35,543,569 | $14,903,762 | $14,221,901 | $2,409,961 across 32 grants |
| Metric | 2025 | 2024 | 2023 |
|---|---|---|---|
| Total Assets | $8,948,495 | $10,230,080 | $35,543,569 |
| Revenue | $15,218,918 | $64,780,073 | $14,903,762 |
| Expenses | $16,280,164 | $63,424,693 | $14,221,901 |
| Net Investment Income | $151,123 | $674,552 | $407,192 |
Data update history
When this profile's IRS filing data changed on Grantable
- Updated Form 990 for fiscal year 2020 (received by the IRS February 26, 2021)
- Updated Form 990 for fiscal year 2021 (received by the IRS February 22, 2022)
- Updated Form 990 for fiscal year 2022 (received by the IRS May 9, 2023)
- Updated Form 990 for fiscal year 2023 (received by the IRS April 30, 2024)
- Updated Form 990 for fiscal year 2024 (received by the IRS May 15, 2025)
- Added Form 990 for fiscal year 2025 (received by the IRS May 14, 2026)
Leadership & Key People
Leadership team and compensation from IRS filings
The 2025 filing lists Emilia DiMenco as outgoing president and chief executive and Hedy M. Ratner as co-founder and co-president. Listed board officers and other leadership include Sandra Rand, chair; Eva Brown, first vice chair; Michelle Blaise, second vice chair; Alison Chung, secretary; Cassandra Sanford, assistant secretary; Risa R. Davis, treasurer; Mary Houpt, assistant treasurer; and Beth Kieffer Leonard, CPA, audit committee chair.
Women's Business Development Center is led by Emilia Dimenco, President & Chief Executive on every filing since 2020; 7 of 27 officers listed in 2025 are compensated.
Officers on the 2025 filing
Emilia Dimenco
President & Chief Executive
On filings since 2020
40 hrs/week
$168K (2020) → $314K (2025)
Erica Kuhlmann
President & Chief Executive
New on the 2025 filing
40 hrs/week
No compensation reported
Hedy M. Ratner
Co-Founder & Co-President
Co-Founder & Co-President → Co-Founder & Co-President Emerita, 2021
Co-Founder & Co-President Emerita → Co-Founder & Co-President, 2022
On filings since 2020
10 hrs/week
$52K (2020) → $25K (2025)
S. Carol Dougal
Co-Founder & Co-President
Co-Founder & Co-President → Co-Founder & Co-President Emerita, 2021
Co-Founder & Co-President Emerita → Co-Founder & Co-President, 2022
On filings since 2020
1 hr/week
No compensation reported
Amy Yuhn
Fundraising Committee Chair
Director → Fundraising Committee Chair, 2025
On filings since 2020
2 hrs/week
No compensation reported
Beth Kieffer Leonard CPA
Audit Committee Chair
On filings since 2020
2 hrs/week
No compensation reported
Laurel G. Bellows
Governance & Nom Committee Chair
Director → Governance & Nom Committee Chair, 2025
On filings since 2020
2 hrs/week
No compensation reported
Sandra Rand
Chair
Treasurer → Chair, 2022
On filings since 2020
3 hrs/week
No compensation reported
Blanca Berthier
Managing Director Ent Bus Program & Svcs
Managing Director Entrepreneurial Svcs → Managing Director Ent Bus Program & Svcs, 2025
On filings since 2024
40 hrs/week
$103K (2024) → $110K (2025)
Clark McCain
Managing Director Strategic Partnerships
New on the 2025 filing
40 hrs/week
$109K (2025)
Maura Mitchell
Managing Director Ent Bus Program & Svcs
New on the 2025 filing
40 hrs/week
$106K (2025)
Arabel Alva Rosales
Director
On filings since 2020
2 hrs/week
No compensation reported
Linda Boasmond
Director
On filings since 2020
1 hr/week
No compensation reported
Linda Chaplik Harris
Director
Vice Chair → Director, 2025
On filings since 2020
1 hr/week
No compensation reported
Michelle Kantor
Director
On filings since 2020
2 hrs/week
No compensation reported
Patty Greene
Director
On filings since 2020
2 hrs/week
No compensation reported
Jennifer Rouzan
Director
New on the 2025 filing
2 hrs/week
No compensation reported
Mary Houpt
Assistant Treasurer
Director → Assistant Treasurer, 2023
On filings since 2020
2 hrs/week
$12K (2022) → $0 (2025)
Roxanne Ward
Vice President
Chief of Staff → Vice President, 2025
On filings since 2020
40 hrs/week
$103K (2020) → $136K (2025)
Georgia Marsh
Chief Development Officer
On filings since 2022
40 hrs/week
$106K (2022) → $126K (2025)
Alison Chung
Secretary
On filings since 2020
2 hrs/week
No compensation reported
Cassandra Sanford
Assistant Secretary
On filings since 2020
2 hrs/week
No compensation reported
Debra Jennings-Johnson
Ex-Officio
Chair → Ex-Officio, 2022
On filings since 2020
2 hrs/week
No compensation reported
Eva Brown
1st Vice Chair
Assistant Treasurer → Treasurer, 2022
Treasurer → 1st Vice Chair, 2023
On filings since 2020
2 hrs/week
No compensation reported
Michelle Blaise
2nd Vice Chair
On filings since 2020
2 hrs/week
No compensation reported
Risa R. Davis
Treasurer
Director → Treasurer, 2023
On filings since 2020
2 hrs/week
No compensation reported
Rona Fourte
Audit Committee Vice Chair
On filings since 2020
2 hrs/week
No compensation reported
Former officers (7)
- Former: Jennifer Mariani (2020–2024) — Director - Term
- Former: Megan Everett (2020–2024) — Director - Term
- Former: Jennifer Schlott-Rouzan (2021–2024) — Director
- Former: Karen Goldner (2024) — Managing Director Established Bus Svcs
- Former: Renee Sang (2020–2023) — Director - Term
- Former: Lotika Pai (2023) — CFO - Term
- Former: Amanda Brinkman (2020–2021) — Director - Term
Data from IRS Form 990 filings, 2020–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2025 IRS filing
The highest reported compensation on the 2025 filing was $314K, to Emilia Dimenco (President & Chief Exec (Outgoing)). 7 officers or directors reported compensation on that filing.
Contact
Mailing address: 8 S Michigan Avenue 400, Chicago, IL 60603
Phone: (312) 853-3477
Website: https://wbdc.org
Frequently asked questions about Women's Business Development Center
How much does Women's Business Development Center give each year?
Women's Business Development Center gave $5.5M across 50 grants in 2025, according to its 2025 IRS Form 990. In 2024 it gave $51.9M across 3,016 grants.
What is Women's Business Development Center's typical grant size?
Women's Business Development Center's median grant in 2025 was $75,000, and its average grant was $110,974, across 50 grants on its 2025 IRS Form 990. Organizations receiving their first grant from Women's Business Development Center that year got $87K on average.
Where does Women's Business Development Center give grants?
Women's Business Development Center gives mostly in Illinois: 96% of the grant dollars itemized on its 2025 IRS Form 990 went to recipients there. The most frequent recipient cities were Chicago, IL (34 grants) and Denver, CO (2 grants).
Does Women's Business Development Center give general operating support?
Not in 2025: none of the 50 grants with a stated purpose on Women's Business Development Center's 2025 IRS Form 990 were described as general or operating support. Recurring purposes include "Cannabis Business Assistance Grants" (38 grants).
Who are Women's Business Development Center's largest grantees?
Women's Business Development Center's largest 2025 grantees include Illinois Hispanic Chamber of Commerce ($368,105), Illinois Restaurant Association ($321,693) and Berwyn Development Corporation ($311,116), according to its 2025 IRS Form 990. Together they received 18% of its itemized 2025 grant dollars.
How large is Women's Business Development Center?
Women's Business Development Center reported $8.9M in total assets on its 2025 IRS Form 990. Its revenue that year was $15.2M.
What does Women's Business Development Center fund?
WBDC states that its mission is to support and accelerate business development and growth, serving all business owners to strengthen their participation in and impact on the economy. See mission & focus areas ↑
How do I apply for a grant from Women's Business Development Center?
Women's Business Development Center has no public application process in the sources Grantable reviewed. Check wbdc.org for current guidelines, or contact the foundation directly before submitting a request.
What is Women's Business Development Center's EIN?
Women's Business Development Center's EIN (Employer Identification Number) is 36-3488628. IRS Form 990 filing data is available on this page for 2020–2025.
Data last updated September 2026. Sourced from IRS Form 990 filings. Research dossier generated September 2026.
Here's the math on researching Women's Business Development Center by hand.
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