WBDC: WHERE ACCESS LEADS TO SUCCESS.

2013 ANNUAL REPORT

Thank you to our clients who keep coming back to access more information; our funders who fuel our programming; our partners who we turn to for collaboration; but most importantly, thank you for taking an interest in what the Women’s Business Development Center has done in 2013, and will continue to do, to create jobs, fuel economic growth and create healthy communities through women’s entrepreneurship.

It is through relevant and progressive programming the Women’s Business Development Center (WBDC) continues to support women business

owners as they grow and succeed. Through initiatives such as the Women Vetrepreneurship Program and regional

procurement events with corporate partners, the WBDC is able provide the necessary trainings and connections our clients need. In the past year we have dramatically expanded our direct lending program, delivered new workshops on risk management and elevated our entrepreneurial training curriculum for start-up and emerging business owners.

Particularly noteworthy, in 2013, the WBDC launched both Spanish and English eLearning courses for entrepreneurs in need of self-paced, at home entrepreneurial training. The WBDC also became a

core member of the Chicago Microlending Institute, providing loans up to $25,000 for City of Chicago businesses. Additionally, we introduced the Latina Entrepreneurship Accelerated Development, or LEAD Program to educate and enhance the presence of Latina women business owners in the marketplace.

Looking ahead, we are increasing our strategic collaborations, providing more access to capital, contracts and information through deepened relationships with both our public and private partners. Join us as we, just like our clients, continue on a trajectory of growth.

Sincerely,

Emilia DiMenco President and Chief Executive Officer

THANK YOUFROM THE CEO

WOMEN’S BUSINESS DEVELOPMENT CENTER | 2013 ANNUAL REPORT

All WBDC programs and services are outcome oriented and targeted at assisting entrepreneurs establish and grow sustainable, profitable small businesses that create jobs and fuel economic growth.The WBDC’s goals are: ■ To accelerate the rate of growth of women’s

business ownership ■ To increase the economic impact of women-owned

businesses on both families and communities ■ To increase awareness of business ownership as a

viable means of economic self-sufficiency ■ To stimulate public policy and system changes which

support and strengthen the economic impact of women

WHAT

The Women’s Business Development Center is all about access. Access to information. Access to contacts. Access to contracts. Access to capital.

Women Vetrepreneurship ProgramIn partnership with the Illinois Department of Veterans’ Affairs (IDVA), the Women Vetrepreneurship Program meets the needs of women veterans who want to pursue business ownership as a pathway to economic security. In this one-of-a-kind program, the WBDC delivers entrepreneurial training, technical assistance, counseling and access to capital; and IDVA offers social service and veteran- specific benefits information to women veterans. Over 100 women veterans were served through the program in 2013.

Established Business ProgramThe WBDC delivered targeted and relevant programming to meet the needs of established businesses and Women’s Business Enterprise National Council (WBENC) Certified Women Business Enterprises (WBEs) in our nine-state region. This included providing information and access to contract opportunities and hosting twenty-five workshops in our major markets including Milwaukee, St. Louis and Minneapolis, where the WBDC-MN satellite office celebrated its 10th anniversary.

Access to Capital ProgramIn 2013, the WBDC became a core member of the Chicago Microlending Institute (CMI). As part of CMI, we were able to provide $300,000 in direct lending and establish the Micro Finance Program, providing lending to the City of Chicago’s low to moderate income business owners, bothstart-ups and established.

The WBDC not only provides direct lending but also assists clients in finding alternative sources of financing that areright for their business needs.

2013 ACCESS HIGHLIGHTS

ABOUT

EARLY CHILDHOOD EDUCATION ENTREPRENEURSHIP PROGRAM

The Early Childhood Education Entrepreneurship Program (ECEEP) provides ongoing business development training and education to prospective and established home and center-based child care entrepreneurs. The WBDC understands that affordable child care businesses make a community vibrant and enable full participation in the marketplace by women and minorities. Through the WBDC program and working collaboratively with partner organizations, we continue to provide the tools and resources necessary for a successful child care business model. In 2013, a total of 613 clients were served and approximately 3,678 children and families were reached.

Chiquita White Kiwi’s Boutique

Kiwi’s Boutique first accessed the Women’s Business Development Center through Starting a Business in Illinois, one of the WBDC’s

foundational start-up workshops. Despite the fact that Kiwi’s Boutique grew at a stable and consistent rate the first few years of business, founder Chiquita White was ready to increase the rate of business expansion. She learned about the Micro Finance Program and began counseling sessions with the financial experts at the WBDC.

While the micro finance loan process does take time and preparation, Chiquita explained that the WBDC counselors madeit a stress-free process in which she controlled the pace. “The WBDC counselors were always prepared for the next step and kept me informed throughoutthe entire process.”

As a City of Chicago business owner, Chiquita was eligible

and approved for a $20,000 loan through the WBDC’s Micro Finance Program. This capital allowed Chiquita to build an e-commerce platform to sell her merchandise, hire a financial advisor and accountant, purchase a more comprehensive point-of-sale system and design her own clothing line. Chiquita is very proud of her company’s growth, but as any successful entrepreneur does, she is already looking towards the future. “In the next few years I would like to see multiple Chicagoland locations, each housing different merchandise catering towards women, men, accessories andplus size clothing.”

PROGRAM STATISTICS

2013 Clients at a Glance

Over

3,300Clients

Over

1,400Certifications a year

Workshops Delivered: . . . . . . . . . . . . . . . . 238Webinars Delivered: . . . . . . . . . . . . . . . . . . 27Counseling Sessions: . . . . . . . . . . . . . . . 2,203Lending Facilitated: . . . . . . . . . . . . $7,602,000Government Contracts Won: . . $ 34,281,706

WE ARE THE WBDC

Ethnicity

22% Hispanic 37% Black

3.7% Asian 1.3% Other

36% Caucasian

Gender

92% Female 8% Male

Business Stage

58% Start-up11% Emerging31% Established

What really measures success is our clients and what they have been ableto achieve.

As a City of Chicago business owner, Chiquita was eligible and approved for a $20,000 loan through the WBDC’s Micro Finance Program.

WOMEN’S BUSINESS DEVELOPMENT CENTER | 2013 ANNUAL REPORT

Shanetha Pollnitz Tiny Tots Tabernacle

Shanetha Pollnitz opened Tiny Tots Tabernacle to create a safe and educational environment for young children in the artistic, musical, literary, scientific and creative fields.

Due to Shanetha’s altruistic goals and business acumen, Tiny Tots Tabernacle has seen immense growth over the past eleven years, currently serving twenty-one children with four employees.

While Tiny Tots’ success cannot be overemphasized, Shanetha is incredibly humble and credits the help of her own community and the WBDC for getting her feet

off the ground. While she cites that all of the WBDC’s services and programs have been critical to Tiny Tots’ development, she pinpoints one in particular.

When Tiny Tots was first starting out, Shanetha was working fourteen–sixteen hour days just to keep afloat. Therefore she couldn’t regularly attend any training series in downtown Chicago; it was “too far of a hike.”

Not long after Tiny Tots opened, she discovered the Women’s Business Development Center’s business training series,

Developing Your Child Care Business, in a suburb very close to her house. “I was thrilled to find a training series so accommodating and relevant for my business,” says Shanetha. “The training series really helped me learn about the financial aspect of my business and how to get it organized.”

Shanetha is very involved in the local child care provider community. She is the President of the United Child Care Association, which focuses on training, coaching and membership in the Bellwood community. Shanetha also found a community within the WBDC’s resources and connections to the child care industry. With eyes on expanding into a center-based location and a waiting list of applicants, the future looks bright for Shanetha and Tiny Tots.

Patricia May Tembua

Tembua is a leading expert in the international linguistic community, providing professional translation,

interpretation and language solution services in over one hundred languages. In business for over twenty years now, it is one of WBDC Minnesota’s oldest clients. As such, it utilizes the established business programs and services, such as

the online contract portal and Women Business Enterprise (WBE) certification.

After over ten years of being WBE certified, the founder and CEO Patricia May explains that is one of the most useful and helpful resources she has come across while being involved with the WBDC. “The network and connections that I have gained from being WBE-certified are unmatched by any other group

or contacts. I have won contracts from corporations with supplier diversity programs and have found vendors for my own company’s needs.”

Tembua has won multinational contracts with companies such as: Target, Boston Scientific, JCPenney, General Mills, YMCA-USA, Sally Beauty and many others. With seven employees and a network of virtual online project managers, Tembuahas the capacity to successfully complete even the largestof projects.

The training series really helped me learn about the financial aspectof my business.

I have won contracts from corporations with supplierdiversity programs.

Gus Morales Gusco

After a few years of working as a foreman in a silicon company, Gus became restless and aspired for more responsibility in the

business. Taking his knowledge of the industry and drive for economic independence through entrepreneurship, he opened Gusco, a silicon rubber and services company, in June 2010.

Despite the fact that Gus was ISO 9001 Certified, an apparent requirement in the silicon rubber field, he struggled with acquiring clients. Gus was not discouraged from this lack of

customer base and turned to the WBDC for assistance.

He began meeting with the Illinois Procurement Technical Assistance Center (PTAC) counselors at the WBDC to try to win contracts with the government. Gus received support from the WBDC for every aspect of his business,

from developing his elevator pitch to attendingpre-award surveys with himfor the Defense ContractManagement Agency.

Having clocked over 90 hours with WBDC counselors and hundreds of hours responding to proposals, Gusco found success through filling three separate contracts through the System of Award Management (SAM).

In the past three years Gus has grown his client base and now not only produces silicon products for the government but also for private clients in various industries such as healthcare, food, aerospace and others. In the past two years his revenues have doubled with a staff of only four employees.

Rebeca Mojica Blue Buddha Boutique

Rebeca Mojica’s curiosity, creativity, drive and personal self-discipline turned a fascination with chainmaille jewelry from a

home-based hobby to a thriving global enterprise with about $1 million in revenues, a robust e-commerce site and the largest dedicated chainmaille retail supply store in the world. Her business has grown rapidly, now serving artists and enthusiasts in all 50 states and 40 countries. Her exhaustively illustrated,

beautifully written book Chained: Create Gorgeous Chain Mail Jewelry One Ring at a Time became a best-seller within four months.

After three years in business, Rebeca came to the Women’s Business Development Center seeking support for her ever-expanding business. Rebeca leveraged the WBDC through the 12-week entrepreneurial

training series as well as one-on-one counseling which led to her becoming aware of, and eventually applying for the Goldman Sachs 10,000 Small Businesses Program. Not only does Rebeca utilize WBDC resources but so does her staff, “I take note of helpful workshops that are relevant for my employees and send someone from the department to gain skills and knowledge.”

Rebeca is more than just a client of the WBDC; she is an active member of the entrepreneurial community. She continues to pay it forward through teaching not only business acumen, but also valuable skills to turn a personal hobby into a profitable, sustainable business.

Rebeca is more than just a client of the WBDC; she is an active member of the entrepreneurial community.

He began meeting with the Illinois Procurement Technical Assistance Center (PTAC) counselors at the WBDC to try towin contracts withthe government.

WOMEN’S BUSINESS DEVELOPMENT CENTER | 2013 ANNUAL REPORT

Expenditures:

Program Services: . . . . . . .80%Management/General: . . .13%Fundraising: . . . . . . . . . . . . .7%

CHAIRPERSONDebra Jennings-Johnson Director, Supplier Diversity, BP America, Inc.

PRESIDENT & CEO Emilia DiMenco President & CEO, Women’s Business Development Center

VICE CHAIRPERSON Linda Chaplik Harris Partner, Dentons

SECRETARY Pam McDonough CEO, DeAngelo/McDonough Construction Management Company

TREASURER Sandra Rand Former Supplier Diversity Manager, United Airlines

AUDIT COMMITTEE CHAIR Norma Lauder Director, MS Tax Program, University of Illinois at Urbana-Champaign

WBDC BOARD OF DIRECTORS

Laurel G. Bellows, Principal, The Bellows Law Group P.C. ■ Michelle Blaise, VP Engineering & Project Management, ComEd ■ Alison Chung, President, TeamWerks ■ Risa R. Davis, Vice President, Corporate Development, United Way of Metropolitan Chicago ■ S. Carol Dougal, Founder & Co-President Emeritus, Women’s Business Development Center ■ Jeanne Mandoza, Director of Marketing for Illinois, United Parcel Service (UPS) ■ Hedy M. Ratner, Founder & Co-President Emeritus, Women’s Business Development Center ■ Arabel Alva Rosales, President, AAR & Associates, Ltd. ■ Cassandra Sanford, Chief Executive Officer and Co-Founder, KellyMitchell Group, Inc. ■ Shelley Stern, Citizenship and Public Affairs Director, Microsoft Corporation

Ex-Officio MembersMellody Hobson, President, Ariel Investments, LLC ■ Terry Savage, Financial Analyst, President, Terry Savage Productions, Ltd.

MEMBERS

WBDC STAFF & CONSULTANTS

FINANCIAL SUMMARY

The WBDC has been fortunate tomaintain a diversified funding portfolio representative of corporations, foundations, government entities (city, county, state, federal), certification services fees, client fees and individual donations. As an organization we have done our best not to become dependent on any one funder or revenue stream. This is possible because of the comprehensive and diverse nature of the programs we offer, as well as critical targeted services for special populations such as Latinas, women veterans and child care entrepreneurs.

The WBDC is a responsible steward for monies entrusted to the organization, ensuring each financial investment is expended as agreed upon. The WBDC adheres to any and all fund requirements and proactively provides various reports containing snapshots of each investment.

Since its inception, the WBDC has always received an unqualified opinion within its annual audit, and there have never been material discrepancies in any fiscal reviews conducted by individual government entities. Finally, the WBDC is compliant with Sarbanes-Oxley guidelines as applied to non-profits.

A copy of the financial statements or audit will be provided by the WBDC upon request.

Budget (In $ millions)2005 . . . . 2.72006 . . . 2.762007 . . . 2.852008 . . . 3.542009 . . . 3.26

2010 . . . 3.302011 . . . . 3.32012 . . . 3.452013 . . . 4.36

Funding Sources:

Corporate/Foundations: . . .61% WBE Program: . . . . . . . . . .22%Government: . . . . . . . . . . .12%Partnership Fees: . . . . . . . .3%

Training & Seminars: . . . . . . . . .1%Interest & Loan Fees: . . . . . . . . .1%

* Fiscal Year 2014 Employee ** Fiscal Year 2013 Employee no longer with WBDC

Eva Brown**Crystal Costello*Deon CraytonFreida CurryMia Delano**Carolina DiazRebecca DiazStephanie Edlinger*Natasha Fedorova

Bridget Foster*Ellenie GirmaRebecca GlaubkeBethany HartleyDeborah Minor HarveyRichard HendersonMeg HermanKelly HinmanJo-Ann Hunigan

Cynthia JohnsonAnita Knazze*Danae Kovac**Katie LangGrace LopezJanice LopezDebbi LyallNicole Mandeville*Georgia Marsh

Jasmine Nabors*Joi Lynne Ortiz*Mayra PimentalTeresa PrimHedy RatnerJuanita SmithPeggy SmithKristin TravisRoxanne Ward*

WBDC ContributorsMarquee Government Partners City of Chicago, Department of Community DevelopmentCook County, Bureau of Community DevelopmentThe Illinois Department of Commerce and Economic Opportunity, Illinois Entrepreneurship Network, Small Business Development CenterU.S. Small Business AdministrationU.S. Small Business Administration – Office of Women’s Business Ownership

Marquee Contributors ($40,000+)Bank of America Charitable Foundation, Inc.BMO Harris Bank N.A. BP America, Inc.Deluxe Corporation FoundationDiscover Financial ServicesGoldman Sachs 10,000 Small Businesses, ChicagoJPMorgan ChaseNewman’s Own Foundation Robert R. McCormick FoundationTravelers FoundationWalgreens CompanyWomen’s Business Enterprise National Council (WBENC)

Premier Contributors ($25,000-$39,999)Allstate InsuranceChicago Foundation for WomenCiti FoundationCNA Insurance CompaniesComEdFredrikson & Byron, P.A.Lurie Besikof Lapidus & Company, LLPMicrosoft CorporationOfficeMaxU.S. BankUnited AirlinesUPSW.W. Grainger, Inc.

Major Contributors ($10,000-$24,999)AT&TCardinal HealthCDWDeere & CompanyDominick’s Finer FoodsFederal Reserve Bank of Chicago, Kansas City, Minneapolis and St. LouisFirst Nonprofit Insurance Agency FoundationHealth Care Service Corporation/ BlueCross BlueShield of IllinoisIntegrys Energy Group/People’s GasINTREN Inc.Kraft Foods GroupMathematica Policy Research, Inc.The Nielsen CompanyNorthern Trust Office Depot

PepsiCo, Inc.PNCSmead Manufacturing CompanySouthwest Airlines CompanyTarget CorporationTurner Construction Company Foundation University of IllinoisWrigley

Contributors ($2,000-$9,999) 3MAmeren CorporationAmerican AirlinesAmeriprise Financial, Inc.AmerisourceBergen CorporationAvis Budget Group, Inc.Baxter International, Inc.Best Buy CorporationBlue Cross Blue Shield of MinnesotaButler Tool, Inc.C.H. Robinson Worldwide, Inc.Cargill, Inc.Cedar Concepts CorporationCHEPChicago Zoological SocietyCitibankCity Colleges of ChicagoCycle-of-Success Institute (COSi)DC Insurance Services, Inc.Deluxe Corporation Dun & Bradstreet Credibility CorpECOLABEdelmanFifth Third BankFirst Midwest BankGeneral MillsHarley-Davidson Motor CompanyHALO Branded SolutionsHospira, Inc.Jack & Goldie Wolfe Miller FundJames McHugh Construction Co.John D. and Catherine T. MacArthur Foundation KellyMitchell Group, Inc.Knutson ConstructionLeo Burnett Worldwide, Inc.McCormick Place Chicago, an SMG Managed FacilityMcDonald Hopkins LLCMacy’sMajor League Baseball Manilow SuitesManpowerGroupMayo ClinicMedtronic, Inc.Metropolitan Water Reclamation District of Greater ChicagoMinneapolis Public School DistrictMonsanto CompanyMotorola Solutions, Inc.National Van Lines, Inc.NavistarNavy Pier, Inc.New Age Transportation, Distribution & Warehousing, Inc.Nicor GasNorthwestern University – Purchasing Resource ServicesNovation

RBC Wealth ManagementRobinson HillRush University Medical Center Staples, Inc.SUPERVALU Inc.Thomson ReutersTrinal, Inc.U.S. Department of EnergyUnion Pacific RailroadUnited Scrap MetalUnitedHealth GroupThe University of ChicagoThe University of Chicago MedicineUniversity of MinnesotaVWR International, LLCUrban Partnership BankWalmart William G. McGowan Charitable Fund, Inc. Wisconsin Energy CorporationWomeneticsXcel Energy

Media Partners Black EOE JournalChicago Sun-TimesComcastCrain’s Chicago BusinessEnterprising Women MagazineExtra NewspaperGrid MagazineHispanic Network MagazineHoy Newspaper La Raza Lawndale News Make it BetterMBE ConnectMBE MagazineMinority Business News USA (MBN USA)Minority Entrepreneur NewspaperMyhabanero.comNBC5 ChicagoPioneer PressProfessional Woman’s MagazineReflejos NewpaperTelemundoToday’s Chicago WomanU.S. Veterans MagazineUnivision RadioWGBO – TV66 UnivisionWomen’s Enterprise Magazine (WE USA)WVON Radio

Individual Donors ($1,000+) Barbara AnasenesPhyllis ApelbaumElizabeth Beidler-TisdahlMichelle BlaiseAlison ChungChristina ChwalaCherlin DavenportMary Davenport Ann DrakeDebra Jennings-JohnsonTammie JohnsonNorma LauderMilica MaddocksShirley MarxJudy McCaskey

Pam McDonoughNancy MurphySheryl MyhrePatricia RedszusArabel Alva RosalesGwen RyanJulia Stasch

Special Thanks Accion Chicago Alto TechAmeren CorporationLaurel G. BellowsBridgeforth Wolf & Associates, Inc.Carolynn BrooksThe Bureau of Engraving, Inc.CDWChicago Minority Supplier Development Council, Inc. (CMSDC)Chris Ruys Communications, Inc.Consolidated PrintingConstant Contact Marsha CruzanHonorable Rahm Emanuel, Mayor, City of ChicagoFederation of Women Contractors Futura Marketing, Inc.Google AdWords Lisa HolterHoopla CommunicationsIdeal Printers, Inc.Illinois Action for Children J&J Exhibitors Service, Inc.Debra Jennings-JohnsonJoone ProductionsMichelle KantorKayhan InternationalMeggan KehrliBeth Kieffer LeonardKNOCK, inc.McCormick Place Chicago, an SMG Managed FacilityMicrosoft CorporationMotorola Solutions, Inc.Honorable Toni Preckwinkle, Cook County Board PresidentOverture Premiums & Promotions LLCHonorable Pat Quinn, Governor, State of IllinoisSandra RandRichards Graphic Communications, Inc.Allison RosatiRubinBrown LLPTerry SavageSAVOR…Chicago at McCormick PlaceTerri ShapiroSmead Manufacturing CompanyLindsay Sokolowski Staples, Inc.University of Minnesota

The WBDC is grateful to JAK forthe design of this report.

jakgraphicdesign.com

8 S. Michigan Avenue, 4th Floor Chicago, IL 60603 ph 312.853.3477 fx 312.853.0145 WBDC.org facebook.com/WBDC.Chicago twitter.com/WBDC