To: All GWBC Certified Women Businesses
Subject: Greater Women Business Council Processing Fee Change Effective January 1, 2012
Over the past four years, GWBC has worked very hard to maintain the processing fees for new and re-certification applications. It has been our goal to hold these fees as long as it did not present a challenge to our commitment to providing services through our mission of certification, education and procurement opportunities. After careful evaluation and approval by our board of directors, we will be implementing a sliding scale processing fee structure effective January 1, 2012.
The sliding scale will apply to new and re-certification applications of our women business enterprises as we align revenues with the value creation of the WBENC certification. It will be based on the applicants reported gross revenues from your income tax and/ or end of the year financial statements. All applicable fees will be based upon the reported year and may vary depending upon an increase or decrease in your company's revenues. To assist you with your analysis of the fees that your company will be paying effective January 1, 2012; please see the following new fee chart:
Annual Gross Revenue Non-Refundable Processing Fee
0 - $999K $350
$1M - $4.9M $500
$5M - $9.9M $750
$10M and up $1000
*Revenues based on reported tax returns and/or financial statements
**New and Re-certification Fees effective January 1, 2012
If your company's recertification date is January 31st and GWBC receives the re-certification file postmark date after December 31, 2011; the new fee structure will apply and we will be requesting that your company provide the appropriate payment to GWBC via check or credit card.
As we continue to expand our operations in Georgia, North Carolina and South Carolina to the 900+ WBEs; we are leaning forward to effectively grow the Greater Women's Business Council's services and reach out to all levels of our women businesses to assist in their plans for sustainability.
Sincerely,
Roz Lewis, C.P.M., CPSD
Executive Director
Frequently Asked Questions:
1. Why is GWBC changing its current processing fees structure?
A: GWBC is aligning revenues with the value creation of the WBENC certification. It is our
goal to continue to improve upon the service offerings and opportunities to develop our
certified women businesses.
2. My certification will expire in January or February, 2012. What is my processing fee if I submit my re-certification application prior to January 1, 2012?
A: Re-certification applications that are submitted prior to December 31, 2011 will submit the $300 processing fee payment. Note: Postmark date must be December 31, 2011. The sliding scale fees will apply to all applications postmarked or received after December 31, 2011. Note: If your certification does not expire in January or February 2012; your company will need to re-certify under the new sliding scale processing fee that will begin January 1, 2012. WBENC's recertification system does not allow any updates until 90 days prior to the expiration date. For example: March 2012 re-certification applicants will be able to apply January 1, 2012. All applicable fees will apply.
3. What is the earliest date that I can apply for re-certification?
A: The owner is sent a courtesy reminder 90 days prior to the expiration date of the company's certification. However, WBENC does not guarantee receipt of the reminder e-mail and recommends the WBE marks its calendar as a reminder to begin the process 90 days prior to its expiration date.
4. My revenues are not listed in WBENClink. How will GWBC determine my processing fee amount?
A: GWBC Certification Manager will review the Federal Tax return and/or the financials (i.e. P&L) to determine annual gross revenues and level of processing fee that is applicable. Keep in mind, as a part of the re-certification process, all updated documents must be submitted for review prior to submitting to the Certification Committee.
5. If my revenues change during the certification year, will GWBC increase or decrease my processing fee?
A: No, the sliding scale fee is applicable to the Federal Tax return and/or the financials (i.e. P&L) that are submitted with the annual re-certification application.
6. If my certification expires and my profile is deleted from the WBENClink system, what is my cost to apply for certification?
A: The sliding scale processing fees are the same for new and re-certification applications. The processing fee will be based on gross revenues submitted with the application for certification. We encourage you to make your WBENC re-certification a priority as our WBENC and GWBC corporate members requires documentation to verify that your company is certified.
7. Does GWBC offer a payment plan for the sliding scale processing fees?
A: No, GWBC does not offer a payment plan. We encourage our WBEs to include this processing fee in their annual budget plan.
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