Community Improvement, Capacity Building

Workshop in Business Opportunities, Inc.

  • New York, NY
  • www.wibo.org

Mission Statement

WIBO's mission is to enable small business owners and budding entrepreneurs in under-served communities obtain financial success by starting, operating, and building successful businesses that develop economic power, provide jobs and improve communities.

Main Programs

  1. Program 1
  2. 16-week workshop /continuing business education
  3. Business training for prisoners
  4. Connect with Success Business seminars/Online directory
  5. Business Advisory/Networking/Outreach
Service Areas

Self-reported

New York

WIBO serves underserved entrepreneurs in the Tri-State area of New York, New Jersey and Connecticut

ruling year

1968

Principal Officer since 2001

Self-reported

Ms Amini Kajunju

Keywords

Self-reported

african-american, minorities, small business, entrepreneur, business, capitalism, asset building

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EIN

13-2635819

 Number

8399061682

Also Known As

WIBO

Contact

Cause Area (NTEE Code)

Business and Industry (S40)

Management & Technical Assistance (J02)

Management & Technical Assistance (B02)

IRS Filing Requirement

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

Programs + Results

How does this organization make a difference?

Overview

Self-reported by organization

Impact: In 44 years, WIBO has developed over 15,000 entrepreneurs resulting in the creation of 31,500 jobs.
Economic Development: Over 54% of WIBO graduates are in business after 5 years, compared to the national average of 20%. Fifty percent of WIBO business owners report their business is their main source of income.
Serving the Underserved: Sixty-five percent of the WIBO entrepreneurs are African-American, 28% are other minorities, and 70% are women. Sixty-four percent of clients have household incomes below $50,000 and 43% have incomes below $30,000. We also offer the workshop to inmates in various correctional facilities. WIBO entrepreneurs are from Harlem, Bedford-Stuyvesant, Washington Heights, Southeast Queens, South Bronx, Long Island City and Yonkers.
Commitment: The commitment that WIBO volunteers demonstrate is unprecedented. Our site volunteers give 156 hours of service per year.
Value: The market value of the workshop is $4000. Participants pay only for the cost of materials, which is $199 with further discounts for individuals with incomes under $50,000. All other services are free.
High satisfaction: Of the 1500 aspiring entrepreneurs WIBO assists each year, 72% come from graduate referrals. Fifty-six percent of the volunteer staff are WIBO graduates.
Volunteerism: WIBO supervises over 150 volunteer business owners and executives who conduct the programs. Thirty-nine percent are African-American and over 50% are top professionals in the field of law, accounting, banking, and consulting.
Continued Support: WIBO offers post-workshop coaching/mentoring, legal and accounting clinics, free monthly business seminars, informational e-blasts, networking events and free online business directory.
Working together to make a difference: WIBO’s staff of four manages 288 workshop sessions, seven business support services and 100 volunteers. The budget for 2010 is $527,500. Funding comes from individuals, foundations, and corporations.

Programs

Self-reported by organization

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

Program 1

WIBO conducts workshops in fall and spring of each year in seven locations: Midtown (two sessions), Harlem, downtown Brooklyn, central Brooklyn, the South Bronx, Washington Heights, and St. Albans, Queens. At each of these locations we offer two 16-week terms annually, for a total of 256 class sessions, serving approximately 500 participants annually. We also provide follow-up services to graduates after completion of workshop.

Category

Population(s) Served

Budget

Program 2

16-week workshop /continuing business education

16-week workshop, "How to Build a Growing Profitable Business"

Category

Community, Business & Industry

Population(s) Served

Ethnic/Racial Minorities -- General

Adults

Immigrants/Newcomers/Refugees

Budget

$341,500.00

Program 3

Business training for prisoners

Business training for prisoners

Category

Community, Business & Industry

Population(s) Served

Offenders/Ex-offenders

Budget

$42,000.00

Program 4

Connect with Success Business seminars/Online directory

Connect with Success Business Seminars/online directory

Category

Community, Business & Industry

Population(s) Served

Adults

Budget

$57,500.00

Program 5

Business Advisory/Networking/Outreach

Business Advisory/Networking/Outreach

Category

Community, Business & Industry

Population(s) Served

Ethnic/Racial Minorities -- General

Budget

$31,500.00

Service Areas

Self-reported

New York

WIBO serves underserved entrepreneurs in the Tri-State area of New York, New Jersey and Connecticut

Funding Needs

General operating funds Reserve fund Re-entry program support

External Reviews

Source: greatnonprofits.org

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Financials

Financial information is an important part of gauging the short- and long-term health of the organization.

WORKSHOP IN BUSINESS OPPORTUNITIES INC
Fiscal year: Jan 01-Dec 31
Yes, financials were audited by an independent accountant.

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Operations

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

Workshop in Business Opportunities, Inc.

Leadership

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Principal Officer

Ms Amini Kajunju

BIO

As
executive director, Ms. Kajunju has heightened the profile of one of the oldest,
comprehensive, and highly-respected entrepreneurial programs in the nation.
With over 100 business owners as volunteers conducting 288 sessions, Ms.
Kajunju and her team train, educate and inspire 500 enrollees of the workshop
per year. WIBO’s flagship 16-week workshop, “How to Build a Growing Profitable
Business” is currently conducted in nine underserved communities of New York
City. WIBO provides a myriad of other services including business advisory services, legal and accounting clinics, free
business directory, monthly seminars, networking events, and other business
support activities. WIBO now conducts introduction to business workshops in
correctional facilities through New York City. In total, WIBO serves 1500
entrepreneurs a year.

Praised
as a mini-MBA workshop for the working person, Ms. Kajunju has enhanced WIBO’s
flagship workshop by incorporating new knowledge and realities in marketing and
sales, personal finance, and human resources. Under Ms. Kajunju’s leadership, WIBO has seen a 50% increase in
corporate and foundation funding. Some of her accomplishments include forging
new partnerships with community leaders and organizations to maximize WIBO’s
impact and creating a more professional internal infrastructure. Additionally,
WIBO is providing meaningful support to its entrepreneurs at any stage of
business. As a result of Ms. Kajunju’s emphasis on strategic expansion and
solid services management, an increased number of entrepreneurs are using WIBO
to help grow their businesses.

Governance

BOARD CHAIR

Charles Thacher

Private Investor

BOARD LEADERSHIP PRACTICES

GuideStar worked with BoardSource, the national leader in nonprofit board leadership and governance, to create this section, which enables organizations and donors to transparently share information about essential board leadership practices. Self-reported by organization


RESPONSE NOT PROVIDED

BOARD ORIENTATION & 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?


RESPONSE NOT PROVIDED

CEO OVERSIGHT

Has the board conducted a formal, written assessment of the chief executive within the past year?


RESPONSE NOT PROVIDED

ETHICS & TRANSPARENCY

Have the board and senior staff reviewed the conflict-of-interest policy and completed and signed disclosure statements in the past year?


RESPONSE NOT PROVIDED

BOARD COMPOSITION

Does the board ensure an inclusive board member recruitment process that results in diversity of thought and leadership?


RESPONSE NOT PROVIDED

BOARD PERFORMANCE

Has the board conducted a formal, written self-assessment of its performance within the past three years?