PLATINUM2024

SBAC Empowerment Foundation

Lighting the path to small business ownership

aka SBAC Empower   |   CHICAGO, IL   |  https://sbacempower.org

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Mission

Promote entrepreneurship and small business development in economically challenged communities throughout the Chicagoland area. SBAC Empower believes that helping small businesses start, grow, and flourish can be a game changer in a struggling neighborhood. Promoting the survival of small businesses in disadvantaged areas of Chicago that SBAC Empower serves is vital. Small businesses employ neighborhood residents, provide neighborhood services, create neighborhood activity, and disproportionately give back to their respective communities. The economy of these neighborhoods is harmed when community-based entrepreneurs cannot build and scale successful businesses.

Ruling year info

2016

Founder

Mr. Scott Baskin

Main address

20 North Clark Street Suite 3300

CHICAGO, IL 60602 USA

Show more contact info

EIN

81-1699104

NTEE code info

Economic Development (S30)

IRS filing requirement

This organization is required to file an IRS Form 990 or 990-EZ.

Sign in or create an account to view Form(s) 990 for 2022, 2021 and 2021.
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Communication

Programs and results

What we aim to solve

SOURCE: Self-reported by organization

SBAC Empower promotes entrepreneurship and small business development in Chicago’s economically challenged neighborhoods through our mentoring and workshop educational programs. At SBAC Empower, we believe mentors supporting new business owners can make the difference between success and failure during the critical beginning years of a business. Your partnership will help SBAC Empower assist business owners in disadvantaged neighborhoods in the Chicago area and help their businesses succeed. Together, we can help entrepreneurs from disadvantaged areas start successful businesses that will fill vacant storefronts, create jobs, and support the economic health of the community. WHAT’S THE PROPOSED IMPACT? SBAC Empower believes that the foundation of a thriving neighborhood is a thriving small business community. Small businesses employ neighborhood residents, provide neighborhood services, create neighborhood activity, and disproportionately give back to their respective communities

Our programs

SOURCE: Self-reported by organization

What are the organization's current programs, how do they measure success, and who do the programs serve?

Mentoring Program

SBAC Empower provides education, support, and resources to entrepreneurs and small business owners in economically challenged neighborhoods or those from disadvantaged circumstances including minorities, women, veterans, unemployed individuals, or those with limited financial means. Some of the 11 communities we have helped thus far include Greater Englewood, North Lawndale, South Shore, Cook County Jail, Bronzeville, Logan Square, Greater Roseland, Woodlawn and more.

Population(s) Served
Economically disadvantaged people
Ethnic and racial groups

In 2022, SBAC Empower initiated a series of educational workshops for entrepreneurs and/or small business owners providing crucial information to know prior to opening a business. These workshops detailed zoning laws, funding, marketing, etc. SBAC Empower hosted or participated in a total of 11 workshops in at least 5 different Chicago communities. This networking and outreach allowed Empower to interact with several local (in respect to the host neighborhood) chambers, small businesses, and prospective sponsors/donors. Due to the quality of the workshops held this year (2022), several sponsors have reached out to grant or granted us funds for this year or next (2023).

Population(s) Served
Ethnic and racial groups
Economically disadvantaged people
Incarcerated people

Where we work

Awards

Non Profit of the Year Award 2019

Small Business Advocacy Council (SBAC)

Affiliations & memberships

SBAC 2017

Our results

SOURCE: Self-reported by organization

How does this organization measure their results? It's a hard question but an important one.

Number of participants who gain employment

This metric is no longer tracked.
Totals By Year
Population(s) Served

Social and economic status

Related Program

Mentoring Program

Type of Metric

Input - describing resources we use

Direction of Success

Holding steady

Context Notes

Most of the participants are currently working - but establishing their own self standing business is this metric.

Number of businesses developed

This metric is no longer tracked.
Totals By Year
Related Program

Mentoring Program

Type of Metric

Context - describing the issue we work on

Direction of Success

Increasing

Context Notes

Mentor/Mentee Relations

Number of small businesses and/or entrepreneurs reached through our educational programs

This metric is no longer tracked.
Totals By Year
Population(s) Served

Ethnic and racial groups, Economically disadvantaged people, Incarcerated people

Related Program

Mentoring Program

Type of Metric

Output - describing our activities and reach

Direction of Success

Increasing

Number of participants who felt that they have been provided with a range of options for future employment

This metric is no longer tracked.
Totals By Year
Related Program

Mentoring Program

Type of Metric

Outcome - describing the effects on people or issues

Direction of Success

Increasing

Context Notes

These are participants in the mentoring program who have established a business model and beyond.

Goals & Strategy

SOURCE: Self-reported by organization

Learn about the organization's key goals, strategies, capabilities, and progress.

Charting impact

Four powerful questions that require reflection about what really matters - results.

So many neighborhoods in the greater Chicago area face serious economic challenges. These areas suffer from a lack of jobs, business resources, and growth opportunities. Helping small businesses start, grow, and flourish can be a game changer in a struggling neighborhood. Because so many small businesses do not survive (only 48.8% of new businesses survive for five years and only 33.6% survive for ten years[1]), it is vital to promote the success of small businesses in these disadvantaged neighborhoods. We believe that a mentor can make the difference between success and failure during the critical beginning years of a business.

SBAC Empower aims to assist more entrepreneurs, helping to promote not only the success of these new business owners but also the revitalization and growth of the entire community.

OUR GOALS
1. Impact 100,000 entrepreneurs and small business owners in economically-challenged communities by 12/31/2030.
2. Establish 75 ongoing mentor-mentee relationships in our targeted communities by the end of 2022.
3. Have 100 ongoing mentor-mentee relationships in our targeted communities by the end of 2023.
4. Create partnerships with 9 additional community organizations in our targeted communities to bring our total to 20 by the end of 2023.

Mentor and Speed Coaching Program to assist entrepreneurs and small business owners - specifically targeted to those in economically-challenged areas.

Partnering with local business chambers
SBAC affiliation
SBAC Empower Resource Portal

SBAC Empower MENTOR PROGRAM IMPACT:
SBAC Empower provides education, support, and resources to entrepreneurs and small business owners in economically challenged neighborhoods or those from disadvantaged circumstances including minorities, women, veterans, unemployed individuals, or those with limited financial means. Some of the 11 communities we have helped thus far include Greater Englewood, North Lawndale, South Shore, Cook County Jail, Bronzeville, Logan Square, Greater Roseland, Woodlawn and more.
-80% of the businesses we assist are in the critical initial phase of their business with a business life starting between 1-4 years.
-2/3 of those businesses have only 1-4 employees (not including themselves) while the other 1/3 are operating solo.
-Proving that our mentors really care, 53% of our Mentee/Mentor relationships continue past the 1-year commitment.

At SBAC Empower, we strive for a high range of diversity among our mentors so several different viewpoints are considered and - most importantly - welcomed.
· Our mentors are diversely Male (57%) and Female (43%), with none identifying as any other gender
· The racial makeup of our mentors is White (86%), Black/African-American (14%), and Asian American
· Some of our mentors, as of collection, identify as part of the LGBTQ+ Community

SBAC Empower WORKSHOP/EDUCATION IMPACT:
Over the span of 2022, SBAC Empower has hosted or participated in a total of 11 workshops in at least 5 different Chicago communities. This networking and outreach has allowed Empower to interact with several local (in respect to the host neighborhood) chambers, small businesses, and prospective sponsors/donors. Due to the quality of the workshops held this year (2022), several sponsors have reached out to grant or granted us funds for this year or next (2023)
Our workshops have allotted us:
· 6 additional chambers have been partnered with in 2022 for a total of 11 to date
· 11 workshops were hosted in 2022
· 118 Attendees at 2022 educational workshops and webinars
· 163 YouTube resource views on webinars alone
· $10000 of grants and/or corporate sponsors secured for 2023 due to workshops
· Produced 18 new participants in the SBAC Empower Mentoring Program

How we listen

SOURCE: Self-reported by organization

Seeking feedback from people served makes programs more responsive and effective. Here’s how this organization is listening.

done We shared information about our current feedback practices.
  • How is your organization using feedback from the people you serve?

    To identify and remedy poor client service experiences, To identify bright spots and enhance positive service experiences, To make fundamental changes to our programs and/or operations, To inform the development of new programs/projects, To identify where we are less inclusive or equitable across demographic groups, To strengthen relationships with the people we serve, To understand people's needs and how we can help them achieve their goals

  • Which of the following feedback practices does your organization routinely carry out?

    We collect feedback from the people we serve at least annually, We take steps to get feedback from marginalized or under-represented people, We aim to collect feedback from as many people we serve as possible, We take steps to ensure people feel comfortable being honest with us, We look for patterns in feedback based on demographics (e.g., race, age, gender, etc.), We look for patterns in feedback based on people’s interactions with us (e.g., site, frequency of service, etc.), We engage the people who provide feedback in looking for ways we can improve in response, We act on the feedback we receive

  • What challenges does the organization face when collecting feedback?

    It is difficult to get the people we serve to respond to requests for feedback, We don’t have the right technology to collect and aggregate feedback efficiently, It is difficult to find the ongoing funding to support feedback collection

Financials

SBAC Empowerment Foundation
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Operations

The people, governance practices, and partners that make the organization tick.

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lock

Connect with nonprofit leaders

Subscribe

Build relationships with key people who manage and lead nonprofit organizations with GuideStar Pro. Try a low commitment monthly plan today.

  • Analyze a variety of pre-calculated financial metrics
  • Access beautifully interactive analysis and comparison tools
  • Compare nonprofit financials to similar organizations

Want to see how you can enhance your nonprofit research and unlock more insights? Learn More about GuideStar Pro.

SBAC Empowerment Foundation

Board of directors
as of 02/03/2024
SOURCE: Self-reported by organization
Board chair

Mr. Scott Baskin

MC LLC

Term: 2017 -

Paul Detlefs

Prestwick Group

Elliot Richardson

Korey Richardson Law

Iris B Marreck

What A Great Website

Scott Baskin

Lisa Meredith

ProVisors

David Davis

Davis Audio

Danielle Petty

LT Consultants

Anjel Brown

Resourceful Friends

Bill Maloney

Fifth Third Bank

Sherry Jursa

PNC Bank

Patti Zikmund-Roverud

SBAC

Board leadership practices

SOURCE: Self-reported by organization

GuideStar worked with BoardSource, the national leader in nonprofit board leadership and governance, to create this section.

  • Board orientation and education
    Does the board conduct a formal orientation for new board members and require all board members to sign a written agreement regarding their roles, responsibilities, and expectations? Yes
  • CEO oversight
    Has the board conducted a formal, written assessment of the chief executive within the past year ? Not applicable
  • Ethics and transparency
    Have the board and senior staff reviewed the conflict-of-interest policy and completed and signed disclosure statements in the past year? Yes
  • Board composition
    Does the board ensure an inclusive board member recruitment process that results in diversity of thought and leadership? Yes
  • Board performance
    Has the board conducted a formal, written self-assessment of its performance within the past three years? Not applicable

Organizational demographics

SOURCE: Self-reported; last updated 2/3/2024

Who works and leads organizations that serve our diverse communities? Candid partnered with CHANGE Philanthropy on this demographic section.

Leadership

The organization's leader identifies as:

Race & ethnicity
White/Caucasian/European
Gender identity
Male

Race & ethnicity

Gender identity

Transgender Identity

Sexual orientation

No data

Disability

No data

Equity strategies

Last updated: 07/01/2021

GuideStar partnered with Equity in the Center - an organization that works to shift mindsets, practices, and systems to increase racial equity - to create this section. Learn more

Data
  • We review compensation data across the organization (and by staff levels) to identify disparities by race.
  • We ask team members to identify racial disparities in their programs and / or portfolios.
  • We analyze disaggregated data and root causes of race disparities that impact the organization's programs, portfolios, and the populations served.
  • We disaggregate data to adjust programming goals to keep pace with changing needs of the communities we support.
  • We employ non-traditional ways of gathering feedback on programs and trainings, which may include interviews, roundtables, and external reviews with/by community stakeholders.
  • We disaggregate data by demographics, including race, in every policy and program measured.
  • We have long-term strategic plans and measurable goals for creating a culture such that one’s race identity has no influence on how they fare within the organization.
Policies and processes
  • We use a vetting process to identify vendors and partners that share our commitment to race equity.
  • We seek individuals from various race backgrounds for board and executive director/CEO positions within our organization.
  • We have community representation at the board level, either on the board itself or through a community advisory board.
  • We help senior leadership understand how to be inclusive leaders with learning approaches that emphasize reflection, iteration, and adaptability.
  • We engage everyone, from the board to staff levels of the organization, in race equity work and ensure that individuals understand their roles in creating culture such that one’s race identity has no influence on how they fare within the organization.