SBAC Empowerment Foundation
Building Empowered Communities through Small Business Ownership
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SBAC Empowerment Foundation
EIN: 81-1699104
as of October 2024
as of October 15, 2024
Programs and results
Reports and documents
Download other documentsWhat we aim to solve
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
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.
Small Business Educational Workshops
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).
Where we work
Awards
Non Profit of the Year Award 2019
Small Business Advocacy Council (SBAC)
Best Networking Mentor - Patti Zikmund-Roverud (Board) 2024
Networldly
Affiliations & memberships
SBAC 2017
Our results
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
Reports and documents
Download strategic planLearn about the organization's key goals, strategies, capabilities, and progress.
Charting impact
Four powerful questions that require reflection about what really matters - results.
What is the organization aiming to accomplish?
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.
What are the organization's key strategies for making this happen?
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 2024.
3. Create partnerships with local business owners, community organizations and chambers.
What are the organization's capabilities for doing this?
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
What have they accomplished so far and what's next?
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
Seeking feedback from people served makes programs more responsive and effective. Here’s how this organization is listening.
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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
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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
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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
Financial documents
Download audited financialsRevenue vs. expenses: breakdown
Financial data
SBAC Empowerment Foundation
Balance sheetFiscal Year: Jan 01 - Dec 31
The balance sheet gives a snapshot of the financial health of an organization at a particular point in time. An organization's total assets should generally exceed its total liabilities, or it cannot survive long, but the types of assets and liabilities must also be considered. For instance, an organization's current assets (cash, receivables, securities, etc.) should be sufficient to cover its current liabilities (payables, deferred revenue, current year loan, and note payments). Otherwise, the organization may face solvency problems. On the other hand, an organization whose cash and equivalents greatly exceed its current liabilities might not be putting its money to best use.
Operations
The people, governance practices, and partners that make the organization tick.
Documents
Founder
Mr. Scott Baskin
Scott Baskin retired as President and CEO of Mark Shale in 2011. Mark Shale was Chicagos largest independent clothing retailer with stores in Chicago, Atlanta, Dallas, Kansas City, and St. Louis. Prior to his business career, Scott served as Chief Legislative Assistant to the late Congressman Abner Mikva.
In addition to his professional experience, Scott is an engaged community leader. He is a board member of Uptown United, an economic development organization serving Chicagos Uptown neighborhood. He was an elected member of the Northside College Prep High School Local Council and chair of its finance committee, and past treasurer of the Center for Law and Social Work.
SBAC Empowerment Foundation
Officers, directors, trustees, and key employeesSOURCE: IRS Form 990
Compensation data
There are no highest paid employees recorded for this organization.
SBAC Empowerment Foundation
Board of directorsas of 07/15/2024
Board of directors data
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
GuideStar worked with BoardSource, the national leader in nonprofit board leadership and governance, to create this section.
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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
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
Gender identity
Transgender Identity
Sexual orientation
No data
Disability
No data
Equity strategies
Last updated: 07/01/2021GuideStar 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
- 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.
- 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.