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MWF IS A COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION WHOSE MISSION IS TO EXPAND ECONOMIC OPPORTUNITY FOR WOMEN AND ENTREPRENEURS OF COLOR BY PROVIDING ACCESS TO CAPITAL AND BUSINESS RESOURCES. MWF CELEBRATES OUTSTANDING MICHIGAN WOMEN BY HONORING THEIR LEADERSHIP CONTRIBUTIONS TO THE COMMUNITY, ECONOMY, AND OUR STATE. MWF'S VISION IS TO CREATE AN INCLUSIVE ECONOMY FOR THE STATE OF MICHIGAN WHERE WOMEN AND PEOPLE OF COLOR CAN CREATE VIABLE BUSINESSES THAT BUILD LONG-TERM SUSTAINABLE WEALTH.
Source: IRS Form 990 (Tax Year 2024)
Source: IRS e-Filed Form 990 (from the IRS e-File system), Tax Year 2023
Total Revenue
▼$4.2M
Program Spending
75%
of total expenses go to program services
Total Contributions
$3.5M
Total Expenses
▼$3M
Total Assets
$12.2M
Total Liabilities
▼$8.6M
Net Assets
$3.6M
Officer Compensation
→$448.4K
Other Salaries
$1.1M
Investment Income
$86.5K
Fundraising
▼$380K
Source: USAspending.gov
No federal awards found for this organization.
USAspending.gov tracks federal grants, cooperative agreements, and other financial assistance. Not all nonprofits receive federal funding.
Source: Federal Audit Clearinghouse (fac.gov)
Total Audits
7
Clean Audits
6
Material Weakness
Yes
Noncompliance Issues
No
| Year | Status | Financial Report | Federal Expenditure | Low Risk | Accepted |
|---|---|---|---|---|---|
| 2025 | Material Weakness | unmodified_opinion,qualified_opinion | $2.4M | Yes | 2026-02-09 |
| 2024 | Clean | Unmodified (Clean) | $2.6M | Yes | 2025-01-03 |
| 2023 | Clean | Unmodified (Clean) | $1.8M | Yes | 2024-03-06 |
| 2022 | Clean | Unmodified (Clean) | $2.1M | Yes | 2022-12-20 |
| 2021 | Clean | Unmodified (Clean) | $1.9M | Yes | 2022-01-11 |
| 2020 | Clean | Unmodified (Clean) | $1.7M | No | 2021-01-13 |
| 2019 | Clean | Unmodified (Clean) | $1M | No | 2020-02-04 |
Financial Report
unmodified_opinion,qualified_opinion
Federal Expenditure
$2.4M
Financial Report
Unmodified (Clean)
Federal Expenditure
$2.6M
Financial Report
Unmodified (Clean)
Federal Expenditure
$1.8M
Financial Report
Unmodified (Clean)
Federal Expenditure
$2.1M
Financial Report
Unmodified (Clean)
Federal Expenditure
$1.9M
Financial Report
Unmodified (Clean)
Federal Expenditure
$1.7M
Financial Report
Unmodified (Clean)
Federal Expenditure
$1M
Tax Year 2024 · Source: IRS e-Filed Form 990
Individuals serving as officers, directors, or trustees of the organization.
| Name | Title | Hrs/Wk | Compensation | Related Orgs | Other |
|---|
Source: IRS Publication 78, Auto-Revocation List & e-Postcard Data
Tax-deductible contributions: Yes
Deductibility code: PC
Sources: IRS e-Filed Form 990 (XML) & ProPublica Nonprofit Explorer
Scroll →
| Year | Revenue | Contributions | Expenses | Assets | Net Assets |
|---|---|---|---|---|---|
| 2023IRS e-File | $4.2M | $3.5M | $3M | $12.2M | $3.6M |
| 2022 | $2.6M | $2.1M | $2.7M | $9M | $2.3M |
| 2021 | $3.9M | $3.1M | $3M | $7.1M | $2.5M |
| 2020 | $2.4M | $1.8M | $3.1M |
Sources: ProPublica Nonprofit Explorer & IRS e-File Index
Financial data: IRS e-Filed Form 990 (Tax Year 2023)
Leadership & compensation: IRS e-Filed Form 990, Part VII (Tax Year 2024)
Organization info: IRS Business Master File
Tax-deductibility: IRS Publication 78
| Total |
|---|
| Carolyn Cassin | President & CEO | 40 | $257.4K | $0 | $9,415 | $266.8K |
| Allyson Boyle | Chief Financial Officer | 40 | $171.6K | $0 | $9,983 | $181.6K |
| Regine Beauboeuf | Chair | 2 | $0 | $0 | $0 | $0 |
| Kelly Springer | Vice Chair | 1 | $0 | $0 | $0 | $0 |
| Dawn Tylkowski | Secretary | 1 | $0 | $0 | $0 | $0 |
| Tonya Wells | Treasurer | 1 | $0 | $0 | $0 | $0 |
| Stephanie Naito | Immediate Past Chair | 1 | $0 | $0 | $0 | $0 |
Carolyn Cassin
President & CEO
$266.8K
Hrs/Wk
40
Compensation
$257.4K
Related Orgs
$0
Other
$9,415
Allyson Boyle
Chief Financial Officer
$181.6K
Hrs/Wk
40
Compensation
$171.6K
Related Orgs
$0
Other
$9,983
Regine Beauboeuf
Chair
$0
Hrs/Wk
2
Compensation
$0
Related Orgs
$0
Other
$0
Kelly Springer
Vice Chair
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Dawn Tylkowski
Secretary
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Tonya Wells
Treasurer
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Stephanie Naito
Immediate Past Chair
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Members of the governing board. Board members often serve without compensation.
| Name | Title | Hrs/Wk | Compensation | Related Orgs | Other | Total |
|---|---|---|---|---|---|---|
| Alyse Martinelli | Trustee | 1 | $0 | $0 | $0 | $0 |
| Denise Quarles | Trustee | 1 | $0 | $0 | $0 | $0 |
| Eleanor Walker | Trustee | 1 | $0 | $0 | $0 | $0 |
| Inderpal Deol | Trustee | 1 | $0 | $0 | $0 | $0 |
| Jessica Hayes-Stallings | Trustee | 1 | $0 | $0 | $0 | $0 |
| Julie Hegedus | Trustee |
Alyse Martinelli
Trustee
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Denise Quarles
Trustee
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Eleanor Walker
Trustee
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
| $6.9M |
| $1.5M |
| 2019 | $2.4M | $2M | $2M | $6M | $2.2M |
| 2018 | $2.5M | $1.7M | $2.7M | $4.4M | $1.7M |
| 2017 | $1.7M | $1.6M | $1.7M | $3.4M | $1.9M |
| 2016 | $1.7M | $1.7M | $1.5M | $2.8M | $1.8M |
| 2015 | $1.9M | $1.9M | $1.6M | $2M | $1.6M |
| 2014 | $1M | $637.5K | $852.1K | $1.4M | $1.3M |
| 2013 | $775.5K | $618.2K | $614.3K | $1.2M | $1.1M |
| 2012 | $481.7K | $212.1K | $679.6K | $1M | $904K |
| 2011 | $603.7K | $381.9K | $626.4K | $1.1M | $1M |
| 2021 | 990 | Data |
| 2020 | 990 | Data |
| 2019 | 990 | Data |
| 2018 | 990 | Data |
| 2017 | 990 | Data |
| 2016 | 990 | Data |
| 2015 | 990 | Data |
| 2014 | 990 | Data |
| 2013 | 990 | Data |
| 2012 | 990 | Data |
| 2011 | 990 | Data |
| 2010 | 990 | — |
| 2009 | 990-EZ | — |
| 2008 | 990 | — |
| 2007 | 990 | — |
| 2006 | 990 | — |
| 2005 | 990 | — |
| 2004 | 990 | — |
| 2003 | 990 | — |
| 2002 | 990 | — |
| 2001 | 990 | — |
| 1 |
| $0 |
| $0 |
| $0 |
| $0 |
| Julie Hollinshead | Trustee | 1 | $0 | $0 | $0 | $0 |
| Kerri Miller | Trustee | 1 | $0 | $0 | $0 | $0 |
| Kim Kersten | Trustee | 1 | $0 | $0 | $0 | $0 |
| Kimle Nailer | Trustee | 1 | $0 | $0 | $0 | $0 |
| Nancy Moody | Trustee | 1 | $0 | $0 | $0 | $0 |
| Rebecca Guerriero | Trustee | 1 | $0 | $0 | $0 | $0 |
| Sarah Earley | Trustee | 1 | $0 | $0 | $0 | $0 |
| Teresa Bingman | Trustee | 1 | $0 | $0 | $0 | $0 |
| Tiffany Albert | Trustee | 1 | $0 | $0 | $0 | $0 |
Inderpal Deol
Trustee
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Jessica Hayes-Stallings
Trustee
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Julie Hegedus
Trustee
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Julie Hollinshead
Trustee
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Kerri Miller
Trustee
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Kim Kersten
Trustee
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Kimle Nailer
Trustee
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Nancy Moody
Trustee
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Rebecca Guerriero
Trustee
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Sarah Earley
Trustee
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Teresa Bingman
Trustee
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Tiffany Albert
Trustee
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0