2026-09-01T08:28:00-05:00 2025-12-31 430765316 RUBINBROWN LLP 1900 16TH STREET SUITE 1700 DENVER CO 80202 990 2025-01-01 474333365 THE WOMEN'S BAKERY INC WOME 3144066273 1031 33RD ST 243 DENVER CO 80205 JANE MARKEY CULVER FOUNDER/CEO 3144066273 2026-08-30 1 QING SU P01986343 3036981883 2025 JANE MARKEY CULVER 1031 33RD ST 243 DENVER CO 80205 1425714 0 X WWW.WOMENSBAKERY.COM X 2015 CO THE WOMEN'S BAKERY EMPOWERS WOMEN AND NOURISHES COMMUNITIES THROUGH A SUSTAINABLE SOCIAL ENTERPRISE. 5 5 2 6 0 0 1620026 1402123 0 0 3936 23591 0 0 1623962 1425714 645100 0 0 0 156480 192091 0 0 69296 120612 154065 922192 346156 701770 1079558 1271305 5971206 2847 6129 1268458 5965077 X THE WOMEN'S BAKERY EMPOWERS WOMEN AND NOURISHES COMMUNITIES THROUGH A SUSTAINABLE SOCIAL ENTERPRISE. 0 0 171757 THE WOMEN'S BAKERY (TWB) IS A VIABLE COMMITMENT TO A VISION FOR WHAT THE WORLD CAN BE: A WORLD THAT ELEVATES WOMEN FOR THEIR INHERENT POWER AND PROMOTES BUSINESS AS A TOOL FOR LASTING, POSITIVE SOCIAL IMPACT. AT TWB, WE STRIVE TO EMPOWER WOMEN THROUGH VOCATIONAL TRAINING, EMPLOYMENT, AND SOCIAL PROGRAMMING, AND WE BUILD BAKERIES THAT SELL NUTRITIOUS BREADS TO RWANDAN COMMUNITIES. OUR MAJOR KEY IS WOMEN'S EMPOWERMENT AND OUR MINOR KEY IS OUR ONE BREAD PROJECT (OBP), A SCHOOL SNACK PROGRAM THAT SERVES PRIMARY SCHOOL STUDENTS A DAILY PIECE OF FORTIFIED BREAD, MEETING THE WORLD FOOD PROGRAMME NUTRITION FORTIFICATION STANDARDS. WE LAUNCHED OPB IN 2019, SERVING ABOUT 400 CHILDREN A DAY; IN 2025, WE SERVED, ON AVERAGE, OVER 20,000 CHILDREN EVERY SCHOOL DAY. IN 2025, TWB DIRECTLY EMPLOYED 70 PEOPLE, 68 OF WHOM ARE EAST AFRICAN AND 55 OF WHOM ARE WOMEN. ALL TWB TEAM MEMBERS HAVE ACCESS TO MENTAL HEALTH COUNSELING, FINANCIAL LITERACY LESSONS, ON-SITE DAYCARES, AND ONGOING PROFESSIONAL DEVELOPMENT TRAININGS. ALL TEAM MEMBERS HAVE COMPANY HEALTH INSURANCE, BENEFITING 98 DEPENDENTS. 80% OF OUR TEAM MEMBERS REPORT TWB AS THEIR PRIMARY SOURCE FOR INCOME AND, BECAUSE OF TWB'S PROGRAMMING, 100% OF TEAM MEMBERS REPORT ACTIVELY MANAGING THEIR FINANCES WITH A BUDGET. 171757 1 1 0 0 0 0 0 0 0 0 1 0 0 1 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 5 0 1 2 1 0 1 RW 0 0 0 0 0 0 0 0 0 0 X 5 5 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 0 1 0 0 X X THE ORGANIZATION 3144066273 1031 33RD ST 243 DENVER CO 80205 BURKE FISHBURN BOARD CHAIR 1.00 X X 0 0 0 KAHWA DOUOGUIH VICE CHAIR 1.00 X X 0 0 0 DR SHYREEN KHALID BOARD DIRECTOR 1.00 X 0 0 0 ROCIO A LOPEZ BOARD DIRECTOR 1.00 X 0 0 0 VALERIE WAYLAND BOARD DIRECTOR 1.00 X 0 0 0 JANE MARKEY CULVER CEO 40.00 X 120000 0 1000 120000 0 1000 1 0 0 0 0 1402123 1402123 23591 23591 1425714 0 0 23591 X 121000 30250 60500 30250 49208 49208 8312 8312 13571 13571 334 334 42601 42601 70404 37899 32505 6541 6541 2798 2798 5159 5159 635 635 21518 21518 2145 2145 BANK FEES 1668 1668 GIFTS 212 212 LICENSE & REGISTRATION 50 50 346156 171757 105103 69296 X 621590 92574 608911 1466300 27033 0 15712 15712 0 0 10271 10271 3500 4402061 1271305 5971206 2847 6129 2847 6129 X 1268458 5965077 1268458 5965077 1271305 5971206 X 1079558 3617061 X 0 0 0 X 1065905 1119364 966688 1620026 1402123 6174106 1065905 1119364 966688 1620026 1402123 6174106 3896903 2277203 46 497 364 8925 23591 33423 6207529 0.36680 0.38070 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 15712 15712 0 0 EAST AFRICA PROGRAM-RELATED RECEIVABLE 4402061 4402061 1 SUB-SAHARAN AFRICA - ANGOLA, BENIN, BOTSWANA, BURKINA FASO, 3 70 BAKERY OPERATIONS, PRODUCT DISTRIBUTION, SOCIAL PROGRAMMING PROGRAM SERVICES, BAKERY OPERATIONS 785000 3 70 0 0 3 70 785000 0 785000 0 0 0 0 0 0 PART I, LINE 2: THE WOMEN'S BAKERY KEEPS SEPARATE ACCOUNTING RECORDS FOR ALL GRANTS MADE TO RWANDA. THESE GRANTS COVER RWANDA OPERATIONS. FORM 990, PART VI, SECTION B, LINE 11B THE BOARD OF DIRECTORS WILL RECEIVE THE 990 FOR REVIEW AND UNANIMOUS APPROVAL BEFORE IRS SUBMISSION. FORM 990, PART VI, SECTION B, LINE 12C ALL TWB TEAM MEMBERS (FULL TIME AND PART TIME), CONTRACTORS, CONSULTANTS, AND BOARD MEMBERS SIGN THE CONFLICT OF INTEREST AGREEMENT. IF ANY PERSON IS FOUND NOT IN COMPLIANCE WITH THE AGREEMENT, BASED ON THE SEVERITY OF THE CONFLICT, LEGAL COUNSEL IS SOUGHT AND IMMEDIATE SEPARATION ENACTED. FORM 990, PART VI, SECTION B, LINE 15A FEEDBACK AND ASSESSMENTS OF THE CEO WERE PROVIDED BY THE BOARD OF DIRECTORS THROUGHOUT 2025. IN ADDITION, THE CEO WORKED WITH OTHER MANAGEMENT TEAM MEMBERS TO REVIEW AND REVISE STRATEGIC PLANS, BUDGETS, AND ANNUAL GOALS FOR THE ORGANIZATION. THE CEO REPORTED THESE REVISIONS AND DEVELOPMENTS TO THE BOARD. CEO COMPENSATION IS ANNUALLY REVIEWED AND DETERMINED BY THE BOARD. FORM 990, PART VI, SECTION C, LINE 19 FORM 990S FROM 2015 TO PRESENT ARE SHARED ON THE WOMEN'S BAKERY WEBSITE AND CANDID.COM. GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE SHARED UPON REQUEST, AS APPROPRIATE. FORM 990, PART IX, LINE 11G MARKETING & PR: PROGRAM SERVICE EXPENSES 4,250. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 32,505. TOTAL EXPENSES 36,755. OTHER PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 25,732. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 25,732. PAYROLL/ADP: PROGRAM SERVICE EXPENSES 7,917. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 7,917. FORM 990, PART X, LINE 16, CHANGES IN TOTAL ASSETS: TWB OPERATES THROUGH A HYBRID NONPROFIT/FOR-PROFIT STRUCTURE. AS PART OF ITS CHARITABLE MISSION, THE ORGANIZATION PROVIDES MISSION-RELATED FINANCING TO AFFILIATED BAKERIES IN EAST AFRICA. THESE ADVANCES ARE INTENDED TO SERVE AS PATIENT CAPITAL, ARE PROVIDED UNDER EXTENDED REPAYMENT TERMS WITHOUT INTEREST, AND ARE EXPECTED TO BE REPAID. ACCORDINGLY, THE ADVANCES ARE RECORDED AS LOANS RECEIVABLE BY THE ORGANIZATION AND LIABILITIES BY THE AFFILIATED ENTITIES. THE CHANGE IN TOTAL ASSETS DURING THE YEAR IS PRIMARILY ATTRIBUTABLE TO THESE MISSION-RELATED FINANCING ACTIVITIES. FORM 990, PART XI, LINE 9: EXPENSE RECLASSIFIED TO BALANCE SHEET ITEM BASED ON REVIEW OF THE NATURE OF THE TRANSACTION 3,617,061. THE WOMEN'S BAKERY LTD KG 176 13 REMERA KIGALI RW PROGRAM SERVICES - BAKERY AND SOCIAL SUPPORT RW C -612552 340977 1.00000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0