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The Commonwealth Institute South Florida’s2014 Women-Led Business Survey Results

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The goal of the survey was to capture challenges and successes experienced by women leaders. Email invitations were sent to individuals selected by survey partners’ internal lists of providers, members and member affiliates. In addition, the survey was sent to women’s organizations and chambers of commerce throughout Florida as well as posted on social media. Recipients were also invited to forward the invitation to other women leaders. As an incentive, respondents were offered a complimentary copy of the 2014 research results. From these invitations, a total of 241 usable responses were obtained.

Listings of the Top 50 Women-Led For-Profit Organizations and the Top 10 Women-Led Not-For-Profit Organizations in Florida are included in this report. The lists, ranked by 2013 revenues, are comprised of companies in which a woman is the organization’s chairwoman of the board, CEO/president, owner and/or senior level executive. Only companies for which revenues were reported in the survey are included in the overall ranking. The respondents represent numerous industries and size of companies as illustrated in the following graphs.

METHODOLOGY AND SAMPLE

1

INDuSTRY CLASSIfICATION REvENuE CATEGORIESOther 9%Retail 2%Education 2%I.T. 4%Legal 4%Wholesale/Distribution 5%Manufacturing 6%Financial 6%Real Estate 6%Healthcare 7%Advertising/Marketing 7%Not-‐for-‐profit 8%Consulting 9%Engineering/Construction 11%Service 14%

100%

Under $500,000 35%$500,000 to $2,000,000 24%$2,000,001 to $4,000,000 17%$4,000,001 to $6,000,000 5%$6,000,0001 to $8,000,000 4%$8,000,001 to $10,000,000 3%Over $10,000,000 12%

9% 2% 2%

4% 4% 5% 6% 6% 6% 7% 7% 8% 9%

11% 14%

Other Retail

EducaUon I.T.

Legal Wholesale/DistribuUon

Manufacturing Financial

Real Estate Healthcare

AdverUsing/MarkeUng Not-‐for-‐profit

ConsulUng Engineering/ConstrucUon

Service

Industry ClassificaUon

35%

24%

17%

5%

4%

3%

12%

Under $500,000

$500,000 to $2,000,000

$2,000,001 to $4,000,000

$4,000,001 to $6,000,000

$6,000,0001 to $8,000,000

$8,000,001 to $10,000,000

Over $10,000,000

Revenue Categories

Other 9%Retail 2%Education 2%I.T. 4%Legal 4%Wholesale/Distribution 5%Manufacturing 6%Financial 6%Real Estate 6%Healthcare 7%Advertising/Marketing 7%Not-‐for-‐profit 8%Consulting 9%Engineering/Construction 11%Service 14%

100%

Under $500,000 35%$500,000 to $2,000,000 24%$2,000,001 to $4,000,000 17%$4,000,001 to $6,000,000 5%$6,000,0001 to $8,000,000 4%$8,000,001 to $10,000,000 3%Over $10,000,000 12%

9% 2% 2%

4% 4% 5% 6% 6% 6% 7% 7% 8% 9%

11% 14%

Other Retail

EducaUon I.T.

Legal Wholesale/DistribuUon

Manufacturing Financial

Real Estate Healthcare

AdverUsing/MarkeUng Not-‐for-‐profit

ConsulUng Engineering/ConstrucUon

Service

Industry ClassificaUon

35%

24%

17%

5%

4%

3%

12%

Under $500,000

$500,000 to $2,000,000

$2,000,001 to $4,000,000

$4,000,001 to $6,000,000

$6,000,0001 to $8,000,000

$8,000,001 to $10,000,000

Over $10,000,000

Revenue Categories

CHALLENGES & TRENDS• Women-led organizations continue to show concern about being able to find ways to continually grow their business as well as their cash flow. In addition, their ability to hire employees with the proper fit for their organization remains challenging.

• In 2014, leaders are exploring new opportunities for growth, focusing on entry into new markets as well as considering new product lines/services and technology innovation. A large majority will also concentrate on existing business lines and expansion of current markets.

• The impact of the Affordable Care Act is expected to have a significant effect on leader’s employment strategy in 2014 and beyond, even those with less than 50 employees.

EXECuTIvE SuMMARY

2

For the third year, The Commonwealth Institute South Florida (TCI) and Moore Research Services, Inc. have partnered to survey women-led organizations in Florida with this year’s sponsor being CBRE. The survey is used to obtain information and insights to better understand how these organizations are faring compared to a year ago, what business challenges they are facing, and their outlook for the next 12 months.

BuSINESS & ECONOMIC CONDITIONS• 2013 was a good year for women-led organizations in Florida. They are optimistic about economic conditions, with many expecting continued improvement through 2014; over three-quarters of women leaders look for significant growth in their organizations.

LEADERSHIP• Women spend time mentoring other women, but most report that this is something they do on their own, outside of any formal organizational program. Connecting to a professional women’s organization and having a mentor both remain important, but less so than 24 months ago.

• Approximately 60% of Florida women leaders serve on a board of directors. However, there is a large gap between serving on a for-profit board and serving on a non-profit board. Research suggests when a business owner is involved on a corporate board, it directly impacts their company’s bottom line. They network and learn new business skills by volunteering outside their normal sphere of influence. About a quarter would like to serve on a board but have not had the opportunity. In addition, most (80%) who are currently serving on a board are doing so because they were asked, rather than actively seeking the opportunity for themselves.

REvENuE fROM PREvIOuS YEAR 2011-2013

2011 2012 2013Not sure 0% 0% 0%Decrease substantially 14% 13% 10%Decrease moderately 16% 14% 13%Stay about the same 28% 28% 27%Grow moderately 28% 31% 30%Grow substantially 14% 14% 20%

100% 1 1


100% 100% 100%

0%

14%

16%

28%

28%

14%

0%

13%

14%

28%

31%

14%

0%

10%

13%

27%

30%

20%

Not sure

Decrease substanBally

Decrease moderately

Stay about the same

Grow moderately

Grow substanBally

Revenue from previous year 2011-‐2013

2013

2012

2011

2%

3%

8%

20%

47%

20%

1%

3%

9%

17%

54%

16%

2%

1%

3%

16%

54%

24%

Not sure


Decrease moderately

Stay about the same

Grow moderately

Grow substanBally

Revenue expectaBons for 2012-‐ 2014

2014

2013

2012

2013 was a year of growth for Florida women leaders; 50% of businesses reported growth, up from 45% in 2012 and 42% in 2011. Of those reporting higher revenues, most (33%) experienced increases over 20%, while 30% experienced increases between 11-20% and 37% in the range of 1-10%.

Women-led organizations are feeling considerable optimism regarding the current business and economic conditions in Florida. This builds on the last two year’s favorable results, and reverses the previous downward trend of growth noted between 2008 and 2011. Their outlook has improved 15% from just one year ago, with well more than half (68%) responding they think conditions have improved. When looking forward 12 months, 61% expect improvement with an economic recovery or rapid growth.

CuRRENT & PROJECTED BuSINESS & ECONOMIC CONDITIONS

3


100% 1 1


100% 100% 100%

0%

14%

16%

28%

28%

14%

0%

13%

14%

28%

31%

14%

0%

10%

13%

27%

30%

20%

Not sure


Decrease moderately

Stay about the same

Grow moderately

Grow substanBally

Revenue from previous year 2011-‐2013

2013

2012

2011

2%

3%

8%

20%

47%

20%

1%

3%

9%

17%

54%

16%

2%

1%

3%

16%

54%

24%

Not sure


Decrease moderately

Stay about the same

Grow moderately

Grow substanBally

Revenue expectaBons for 2012-‐ 2014

2014

2013

2012

REvENuE EXPECTATIONS fOR 2012-2014

Looking forward to 2014, there is a trend of increased confidence; almost 78% of respondents look for modest or substantial growth in their organizations, up from 70% in 2013 and 67% in 2012.

Although there is much confidence in current conditions there are some who are less optimistic, projecting no growth, but this is not widespread and trending downward. Only 16% project flat revenue and those projecting a moderate or substantial decrease in revenue is only 4%, down considerably from 11% in 2012 and 2013. This caution is reinforced in their outlook for 2014, as 34% state they believe the economy will remain at the status quo.

2012 2013 2014Construction of new locations6% 7% 10%Acquisition of new business18% 12% 14%Technology innovation24% 19% 21%Internal restructuring 24% 23% 22%New product lines/services34% 36% 39%Entry into new markets49% 38% 43%Expansion of existing markets67% 63% 61%Growth in existing products/services58% 64% 67%

6%

18%

24%

24%

34%

49%

67%

58%

7%

12%

19%

23%

36%

38%

63%

64%

10%

14%

21%

22%

39%

43%

61%

67%

ConstrucMon of new locaMons

AcquisiMon of new business

Technology innovaMon

Internal restructuring

New product lines/services

Entry into new markets

Expansion of exisMng markets

Growth in exisMng products/services

Areas of ConcentraMon

2014

2013

2012

AREAS Of CONCENTRATION

BIGGEST CHALLENGES IDENTIfIED fOR 2014

In terms of major areas of concentration, leaders are feeling confident and will focus on entering into new markets as well as considering new product lines/services and technology innovation. 67% also indicate they will concentrate on expanding existing business lines, up from 58% in the 2012 survey. To finance these areas of concentration, by far most are planning on using internally generated funds (63%) over the second choice of borrowing from a financial institution (10%).

Leaders will focus on several strategies to enhance their profitability and deal with the challenges they face as they are predicting an upward trend of new possibilities. The top two strategies are extremely close, with market demand/growth ranked in the lead followed by networking (50% and 49% respectively). At 40%, diversifying services rounds out the top three.

While women-led organizations are more optimistic about business and economic conditions in Florida than they were 12 to 24 months ago, there remains significant concern about being able to find ways to grow their business and cash flow. These are the top challenges indicated by leaders, followed by a corresponding concern with gaining and maintaining customers and keeping up with demand.

Not surprisingly, many mentioned taxes and regulatory compliance costs as barriers to expanding their business; concern over government, policy and tax issues filled out the top rankings. Organizations also indicated that they find hiring to keep up with demand and hiring qualified staffing as a challenge. This is also found elsewhere in the survey, where many point to hiring talent that aligns with the organization’s culture as an on-going difficultly.

4

“Growing and hiring in a still somewhat uncertain economy - the fear of the unknown (fueled by the recent downturn) can be paralyzing at times. Growth and hiring is essential; however,

keeping growth in check when demand is great is difficult.”

HIRING

GROWTHSALES

FEES

CHALLENGESTAXES

QUALIFIED STAFF

CUSTOMERSEXPANDING

CASH FLOW

POLICY

REGULATIONS

GOVERNMENT

EXPENSES

CONSIDERING NEW OPPORTuNITIES

When looking at taking a risk in 2014, responses were varied and mixed. Personnel/organizational structure and finances were the two top areas indicated for risk taking, with a risk-adverse “none/not sure” coming in third. Rounding out the top four responses, many predict they will take risks involving expansion and creating/developing new markets.

WHEN LOOkING AT TAkING A RISk IN THEIR BuSINESS, MANY IDENTIfIED ORGANIzATIONAL CHANGES RELATED TO:• Hiring new talent• Increasing training• Restructuring roles

They also emphasized the importance of hiring employees that offer additional expertise.

Those mentioning financial security as a risk talked about increased pricing, minimizing expenses and/or obtaining financing or investors. There is not one prominent financial risk option noted, rather they are varied, with a mix of loans, use of equity lines, obtaining a private equity investor and investing capital to develop new products as options listed.

Over half (55%) of leaders are expecting to moderately or substantially increase their workforce in 2014. This is up from 43% in 2013 and demonstrates another source of significant optimism for the year ahead.

JuGGLING RISk WITH CAuTION

“We are planning to expand to new locations. This would be a major risk because we need to make sure that we choose the

right location, the right personnel, implement the operations to

mirror the main office.”

“I will purchase and introduce many new product lines. My hope is that these product lines will increase business,

however there is always a financial risk.”

5

2012 2013 2014Ability to obtain financing 17% 13% 5%Political gridlock 8% 9% 7%Management issues 11% 8% 9%Implementation of health care law (new 2013) 12% 10%Difficulty in hiring 9% 8% 11%Rising supplier costs 13% 13% 11%Taxation 16% 24% 15%Health care costs 22% 21% 16%Governmental regulation 18% 23% 17%Difficulty in responding to customer needs 12% 12% 19%Difficulty in finding employees who fit culture15% 20% 25%Existing U.S. competition 21% 27% 31%Adverse economic conditions 46% 44% 36%Cash flow 46% 36% 38%

17%

8%

11%

9%

13%

16%

22%

18%

12%

15%

21%

46%

46%

13%

9%

8%

12%

8%

13%

24%

21%

23%

12%

20%

27%

44%

36%

5%

7%

9%

10%

11%

11%

15%

16%

17%

19%

25%

31%

36%

38%

Ability to obtain financing

PoliUcal gridlock

Management issues

ImplementaUon of health care law (new 2013)

Difficulty in hiring

Rising supplier costs

TaxaUon

Health care costs

Governmental regulaUon

Difficulty in responding to customer needs

Difficulty in finding employees who fit culture

ExisUng U.S. compeUUon

Adverse economic condiUons

Cash flow

2014

2013

2012

LOOMING CONCERNS

Cash flow and adverse economic conditions remain on top of the list of concerns for women leaders in 2014, setting a pattern of three years in a row. The concern over adverse economic conditions is down 8% since last year. Rounding out the top concerns are: existing U.S. competition, government regulation, and difficulty in responding to evolving customer needs. In addition, difficulty in hiring and recruiting employees who fit in the company culture was also ranked as a significant concern.

For three consecutive years, when asked what business issue keeps them up at night, growing and maintaining profitability as well as keeping customers happy were the top causes for restless nights.

AREAS Of CONCERN

6

In general, there is continued uncertainty and confusion surrounding the Affordable Care Act (ACA) and its implementation. Changes and delays are adding to this uncertainty, so it is not surprising to have some seemingly conflicting responses to the questions regarding the ACA and healthcare.

The top two responses regarding the ACA were close but divergent. 43% stated they do not expect the ACA to impact their business while the next highest response at 39% indicated they expect to experience increased costs. When looking further at the data, however, of the 43% not expecting any impact, 92% are businesses that by definition are not covered by the Act as they have 50 or fewer employees. What is interesting is that many of these same businesses with less than 50 employees indicate that they will experience some negative impact in various areas stemming from the ACA. The ability to add new employees, inability to keep current staffing levels, investing in the business, and even dropping health care for employees are among their concerns.

Overall, of those responding, 41% currently do not offer health care and by default would not expect to experience any impact.

MAIN CONCERNS REGARDING THE IMPACT Of THE ACA WHEN LOOkING AT THOSE COMPANIES WITH MORE THAN 50 EMPLOYEES: • Inability to keep current employee levels• Drop in full-time employees• Cost increases

HEALTH BENEfITS AND THE AffORDABLE CARE ACT

There is heightened discussion around the issue of “work-life balance” with well-respected women leaders weighing in from different perspectives. Some support the statement that it is possible for women to achieve a balance between work and their personal lives while others object to the concept that women can have it all, and the remaining are somewhere in the middle.

This year’s survey reflects this push-pull dialogue with just over half of women leaders (51%) stating they are satisfied with their time split between work and their personal lives, and 42% stating they are spending more time on their business than they would prefer.

Clearly, women continue to strive towards finding balance in their work and private life. It is not always easy, as women leaders continue to report taking on additional job responsibilities including marketing, sales, project management and human resources in an effort to manage their business and control expenses.

fINDING BALANCE

7

WOMEN’S LEADERSHIP

There are no big changes in the opinions expressed around women’s leadership from 2013. Overall, women-led organizations believe that having a connection to a women’s professional network is important, 66%, which is up slightly from 63% last year. Complementing this trend, the majority of women view having a mentor as being important to their organization, currently at 76% of respondents. This is a significant drop from 92% in 2012, but only down slightly from 79% in 2013.

When asked about developing women leaders in their organization, the majority (78%) report spending time developing other women in their organization, yet only 15% indicate they have a formal program in place to do so. Women-led organizations are closely split on whether they would have an interest in a program for grooming emerging women leaders, with 55% stating they would and 45% indicating no interest.

“More events, more opportunities and

more women in high level positions helping other women owned

businesses.”

RECOGNIzING WOMEN’S CONTRIBuTIONS

Importance of a connection to a women's professional network2012 2013 2014

No connection 17% 24% 22%Not important 13% 13% 12%Somewhat important 30% 35% 36%Very important 40% 28% 30%

1 1 1

Importance of mentors2012 2013 2014

No connection 5% 16% 21%Not important 3% 5% 3%Somewhat important 33% 31% 30% 92Very important 59% 48% 46%

1 1 1

21%3%

30%46%

17%

13%

30%

40%

24%

13%

35%

28%

22%

12%

36%

30%

No connecCon

Not important

Somewhat important

Very important

2014

2013

2012 5%

3%

33%

59%

16%

5%

31%

48%

21%

3%

30%

46%

No connecCon

Not important

Somewhat important

Very important

2014

2013

2012

IMPORTANCE Of A CONNECTION TO A WOMEN’S PROfESSIONAL NETWORk

Importance of a connection to a women's professional network2012 2013 2014

No connection 17% 24% 22%Not important 13% 13% 12%Somewhat important 30% 35% 36%Very important 40% 28% 30%

1 1 1

Importance of mentors2012 2013 2014

No connection 5% 16% 21%Not important 3% 5% 3%Somewhat important 33% 31% 30% 92Very important 59% 48% 46%

1 1 1

21%3%

30%46%

17%

13%

30%

40%

24%

13%

35%

28%

22%

12%

36%

30%

No connecCon

Not important

Somewhat important

Very important

2014

2013

2012 5%

3%

33%

59%

16%

5%

31%

48%

21%

3%

30%

46%

No connecCon

Not important

Somewhat important

Very important

2014

2013

2012

IMPORTANCE Of MENTORS

Women-led organizations remain divided on whether they believe that business and community leaders recognize their contribution to the economic health of Florida. Most state they do not feel properly recognized and included specific suggestions on improving this impression, such as creating awareness of women-led businesses through more awards, women being appointed to higher-profile positions in the community and on corporate boards, and an increase in overall media coverage.

An overwhelming number of women-led organizations have been philanthropic and/or given back to their community. Over three-quarters (78%) have financially supported a charity/charities, 46% allow their employees to volunteer during working hours and 36% have held collection drives for charities. Aligning with their corporate mission, leadership within the community as well as personal/employee fulfillment are the main reasons for donating and giving back.

8

For the past two years, women-led organizations remain consistent regarding whether owning intellectual property (IP) is an asset for their business. This year, slightly more (45%) responded they find it important, versus 36% who do not. When asked why they hold that view, many who said it was not important stated their business is their intellectual property or they are service providers and thus have no need to own intellectual property. For those who own or plan to own IP, they viewed it as good for the future of the business, creates protection for services and products, and can aid in attempts to diversify revenue.

While the National Women’s Business Council views owning intellectual property as an indicator of strong entrepreneurial activity, there seems to be confusion regarding what intellectual property is and what role it might play in organizations’ competitiveness. However, many state it is good for the future of their business and either currently own intellectual property or have pending intellectual property.

According to the Alliance Board for Diversity’s recent report, “Missing Pieces: Women and Minorities on Fortune 500 Boards,” men hold a bulk of the board seats at American companies, with women representing just 17% of board seats, a percentage that hasn’t changed since 2004. The 2013 Catalyst Census: Fortune 500 Women Board Directors confirms the same percentage, announcing that while companies based in other countries are moving ahead with plans to advance women to top leadership, progress in the Fortune 500 remains flat.

Research suggests that involvement on corporate boards directly impacts the bottom line for companies. According to the Credit Suisse Research Institute, companies with women on their boards outperformed companies with no women on their board by an average of 26%. Raising women’s profile by raising a company’s profitability and performance goes a long way in establishing the important role of women business leaders. Currently, 54% of Florida women leaders serve on a non-profit board of directors while 8% serve on a for-profit board. This significant disparity between serving on a non-profit and corporate board reflects the lack of gender diversity at the Fortune 500 companies.

Serving on corporate boards often differs in significant ways from being on a non-profit board. For-profit

INTELLECTuAL PROPERTY

boards may be compensated and be closely involved in important decisions regarding disbursement of profits and financial resources, including stock equity and dividends. While serving on a non-profit board is an important way to increase a woman leader’s profile and network in the community, for-profit board service is viewed differently in the private sector and may be a tool to increase credibility in the business community.

About a quarter, 23%, would like to serve on a board but have not had the opportunity and 35% have encouraged other women to get on boards. Further, of those who serve on a board, 80% were asked to serve instead of volunteering themselves.

In light of the lack of women on for-profit boards, it may be more difficult to break into this arena but the opportunity to increase gender diversity is high.

GETTING ON BOARD

9

Anne Deli, Chief Marketing Officer,American Road GroupAnne Deli has metamorphosed from Advertising Executive in New York City to Chief Marketing Officer of one of the worlds most recognized brands to a successful business entrepreneur. Along the way she was recognized early as one an elite “40 under 40,” and later as Business Woman of the Year and Most Influential Women in Orlando, the headquarters today. All the while she has raised a family; focused

her philanthropy on children in need and the arts; and maintained a balance that keeps her both happy and challenged. For the last decade, she has co-owned and run American Road Group, which she has built into the premier Harley-Davidson dealerships as well as a unique business of 17 Harley merchandise stores in major tourist destinations across the U.S. To this Anne credits the loving support of her husband and business partner and a fantastic team of people who are totally dedicated to our company and the Harley brand!

Mary Jo Eaton, Executive Managing Director, CBRE As Executive Managing Director for CBRE Florida, Mary Jo Eaton leads more than 900 professionals in seven (7) offices across the state and oversees all lines of business within the state. With over 24 years of experience in commercial real estate, Ms. Eaton is experienced in virtually every aspect of the real estate business, including brokerage, management and operations, construction

management, asset management, acquisition and disposition and contract negotiations. Prior to relocating to the Florida market in January 2011, she had oversight for CBRE’s Asset Services business in the Baltimore- Washington, D.C. region.

Ms. Eaton has been recognized by the South Florida Business Journal as one of the “Top 100 Power Leaders” (2013, 2014) and a “Heavy Hitter in Real Estate” (2012). IREM also named her one of the “Women Changing the World of Real Estate” (2013). Ms. Eaton is Executive Sponsor of CBRE’s Hispanic Networking Group and active in CBRE’s Women’s Network, which provide mentoring, professional development and personal enrichment to CBRE professionals. Ms. Eaton is a member of the South Florida Board of Advisors for The Commonwealth Institute and sits on the board of The Beacon Council, Miami-Dade’s official economic development partnership.

Judy Leibovit,Owner, Sweet EndingsStarting out from her home kitchen, Judy Leibovit, owner of Sweet Endings, did the unthinkable to many and conquered her dreams. For more than 25 years, Sweet Endings has been a mouth-watering staple to restaurants, hotels, country clubs and public establishments through food service distributors, QVC and the U.S. Military overseas. Sweet Endings is incomparable to any other nationally known dessert company

because of their innovative “nitch” desserts. It all started in 1989, when a courageous young mom, Judy Leibovit, took the risk and started what is widely known today as Sweet Endings. Being the eldest of four children, it is in Leibovit’s character to help others. Therefore, when a less fortunate family needed desserts for a Bat Mitzvah, Leibovit took charge, baked and provided the family with delicious deserts. With raves from all guests, Leibovit knew desserts were her calling.

Donna E. Shalala,President, university of MiamiAn accomplished scholar, teacher, and administrator, University of Miami President Donna E. Shalala personifies outstanding leadership and dedication to public service. Since becoming president of UM in 2001, UM has advanced into the top tier of U.S. research universities.

Shalala received her A.B. degree from Western College for Women and Ph.D. degree from the Maxwell

School of Citizenship and Public Affairs at Syracuse University. She served as president of Hunter College from 1980 to 1987 and chancellor of the University of Wisconsin-Madison from 1987 to 1993. Shalala was assistant secretary for policy development and research at the U.S. Department of Housing and Urban Development during the Carter administration. In 1993 President Bill Clinton appointed Shalala U.S. secretary of health and human services. During her eight-year tenure, she directed welfare, FDA, and Medicare reform and greatly expanded children’s health insurance coverage and immunization rates.

Shalala continues to play a prominent role to improve the quality of life in cities and health care on the national and international level. She was appointed by President George W. Bush to co-chair with Senator Bob Dole the Commission on Care for Returning Wounded Warriors, and in 2008 received the Presidential Medal of Freedom, the nation’s highest civilian award. In 2009 she was appointed chair of the Committee on the Future of Nursing at the Institute of Medicine of the National Academy of Sciences. In 2010 she received the Nelson Mandela Award for Health and Human Rights, which recognizes individuals for outstanding dedication to improving the health and life chances of disadvantaged populations in South Africa and internationally. Shalala serves as a distinguished senior fellow in the Economic Studies Program and the Engelberg Center for Health Care Reform at the Brookings Institution.

fEATuRED LEADERS

10

11

Linda AlexanderPrivate Supporter

Amparo BaredRyder

Mary CarrollAkerman-Senterfitt

Treasurer

Diane DavisMerrill Lynch Wealth Management

President

Donna DickeyMiami Herald Media Co.

Mary Jo EatonCBRE, Inc.

Dorothy EisenbergGerson, Preston, Robinson

Sandra FinnCross Country Home Services

Sara HeraldBarry University

Laura KaplanU.S. Trust

Lisa KauffmanCelebrity Cruises

Jennifer KnightNewport Board Group, LLC

Christine KotlerBaptist Health South Florida

Aimee LeWinterPNC Bank

Naomi Nixon University of Miami

Doris NeyraWells Fargo

Edith OsmanCarlton Fields, P.A.

Linda PareskyPrivate Supporter

EC at Large

Toni RandolphPrivate Supporter

EC at Large

Sue RomanosCAREERXCHANGE

Lois SilvermanFounding Chairperson

Phyllis SwerskyThe MelTech Group

The Commonwealth Institute of South Florida

The Commonwealth Institute (TCI) is a vibrant nonprofit organization, founded to help women-led businesses become and stay successful. Our mission is to help women CEOs, Entre-preneurs and Senior Executives grow their business through peer mentoring, education, development and high-level networking. The cornerstone of TCI’s approach is peer to peer mentoring in a confidential, small group atmosphere called forums. TCI also raises money to provide scholarships for emerging women business owners and executive directors of other not-for-profits.

TCI supports members’ leadership efforts, gives them an opportunity to share in each other’s networks and

provides a path for success through collaborative business relationships. The organization is “communi-ty-based” and the programs and events are varied, motivational and unique- always focused on helping participants develop personally and professionally.

Since its inception, TCI has worked with several hundred women-led companies. TCI currently has more than 300 members whose companies have annual revenues ranging from $100,000 to more than $200 million. TCI has chapters in South Florida and Boston. The South Florida region serves Miami-Dade, Broward and Palm Beach Counties.

Our two signature events are our Leadership Luncheon and our Top 50 Women. These annual luncheon events draw 300+ women CEOs and Senior Executives. Our Top 50 Women event is where we release the list of top 50 women-led businesses and top 10 non-profits in Florida and recognize these outstanding women. We offer several levels of membership, our general membership and our forum memberships as well as development programs for emerging and high potential women managers, high-energy business seminars and member gatherings where members learn, network, share information and inspire each other.

We are now celebrating a milestone of ten years in South Florida! We wouldn’t have made it this far without the amazing women that have given their time and talents to our organization.

A special thanks to our TCI South Florida 2014 Advisory Board:

Visit our website: www.commonwealthinstitute.org

TOP 50 WOMEN-‐LED FOR-‐PROFIT ORGANIZATIONS IN FLORIDA Rank Name Title Organization City Industry Number of

Employees

1 Kathleen Crampton President, CEO UnitedHealthcare Community Plan of

Florida Sunrise Healthcare 300

2 Mary Jo Eaton Executive Managing Director CBRE, Inc. Miami Real Estate 901

3 Anne Deli President American Road Group Orlando Retail 300 4 Nancy Batchelor Sales Associate EWM Miami Beach Real Estate 6 5 Robin Ranzal Knowles President Edgewater Ranzal Boca Raton Information Technology 191

6 Kirsten Dolan COO One Parking, Inc. West Palm Beach

Parking Management and Consultation 375

7 Olga Ramudo President, CEO Express Travel Miami Service 31 8 Lisa Somerville President, CEO Restor Telecom, Inc. Leesburg Service 159 9 Barbara Bibas Montero Founder, COO SafetyPay Miami Beach Financial 85

10 Catherine Colan Muth CEO O. R. Colan Group, LLC Tallahassee Acquisition Services for Public Infrastructure 147

11 Claudia Londono President EYMAQ / EYMAQ

PROJECT MANAGEMENT

Miami Wholesale and Distribution 27

12 Adela Gonzalez President Future Force Personnel Miami Lakes Service 1013 13 Teresa Meares President DGG Tactical Supply Jacksonville Wholesale and Distribution 25

14 Kim Sweers Managing Partner FastBoats Marine Group

Pompano Beach

Marine Sales, Service, Parts, and Storage 23

15 Christine Franklin President Cherokee Enterprises, Inc. Miami Lakes Engineering and

Construction 47

16 Sue Romanos President, CEO CAREERXCHANGE Miami Service 2823

17 Rachel A. Sapoznik President, CEO Sapoznik Insurance North Miami Beach Consulting 57

18 Lorraine Celestino Wilde CEO GO Airport Shuttle & Executive Car Service

Fort Lauderdale Service 61

19 Michele Sutton President Sutton Ferneries, Inc. Miami Manufacturing 365

20 Angela Petrakis President Diversified Window Solutions, Inc. Longwood Engineering and

Construction 27

21 Pernille Ostberg President, CEO Matrix Home Care, LLC West Palm Beach Healthcare 671

22 Ginger Martin President, CEO American National Bank Oakland Park Financial 35

23 Kay Stephenson President, CEO Datamaxx Applied Technologies, Inc. Tallahassee Information Technology 69

24 Celeste Notardonato, CPA MBA President, CFO The Integration Factory,

Inc. Rockledge Engineering and Construction 14

25 Laura Masella President New York International Bread Co. Orlando Manufacturing 92

26 April Salter President Salter>Mitchell Tallahassee Advertising / Marketing 30

27 JoAnn P. Forance President J P and Concepts Co. Fort Myers Engineering and Construction 33

28 Sandra Foland Owner, CEO The Baron Group, Inc.

dba Baron Sign Manufacturing

Riviera Beach Signage 45

29 Linda Watson Owner, President Rainmaker, Inc. Fort Lauderdale Food and Beverage 4

30 Ann Sabbag Founder, CEO Health Designs Ponte Vedra Beach Workplace Wellness 116

31 Madelaine Lock President SmartWatch Security & Sound, LLC Mount Dora Security Systems Integrator 30

32 Celine de la Sierra President Sierra Commercial Construction, Inc. Hialeah Engineering and

Construction 10

33 Bonnie Crabtree Managing Director Korn Ferry Miami Consulting 17

TOP 50 WOMEN-LED fOR-PROfIT ORGANIzATIONS IN fLORIDA

12

Rank Name Title Organization City Industry Number of Employees

34 Lisa Davis CEO Analytics Partners Jacksonville Information Technology 29

35 Jennifer Cramer President The Spice Lab Pompano Beach Wholesale and Distribution 25

36 Miranda Monahan CEO M-‐PowerTech, LLC Bradenton Information Technology 6 37 Susana Robledo Founder, CEO CUBE CARE Miami Lakes Manufacturing 28

38 Meg Green Founder, CEO Meg Green & Associates Miami Financial 11

39 Tanya Meyer President ACE Staffing Unlimited, Inc. Mount Dora Temporary Employment

Agency 1006

40 Leslie Baumann, MD CEO Baumann Cosmetic & Research Institute Miami Healthcare 27

41 Lane Hickey-‐Wiggins CEO Douglass Screen Printers Lakeland Manufacturing 28

42 Christina Hite President Dix.Hite + Partners, Inc. Longwood Engineering and Construction 21

43 Sally Hayes President Federal Eastern International, Inc.

Saint Petersburg Wholesale and Distribution 8

44 Betsy McGee President Aluminum Distributing, Inc. dba ADI Metal

Fort Lauderdale Wholesale and Distribution 8

45 Judith Cuppy Owner, President Senior Home Companions, Inc. Sarasota Healthcare 905

46 Annie Mecias President JA & M Developing Corp.

Pembroke Pines Construction 60

47 Judy Leibovit President Sweet Endings West Palm Beach Manufacturing 24

48 Deborah Fuddy President MediaSource Worldwide Tampa Advertising / Marketing 5

49 Debbie Margolis Horwitz President, Executive Producer

Kreative Kontent Co Fort Lauderdale

Production and Content Creation 4

50 Ann Duncan Founder, President Vertical Integration, Inc. Tampa Real Estate 16

TOP 10 WOMEN-‐LED NOT-‐FOR-‐PROFIT ORGANIZATIONS IN FLORIDA Rank Name Title Organization City Industry Number of

Employees 1 Donna E. Shalala President University of Miami Coral Gables Education 13710

2 Dr. Barbara Weinstein President, CEO Family Central, Inc. North Lauderdale Not-‐for-‐profit 410

3 Sister Linda Bevilacqua President Barry University Miami Education 1792 4 Gillian Thomas President, CEO Museum of Science, Inc. Miami Not-‐for-‐profit 77 5 Kristi Mollis President, CEO Everglades University Boca Raton Education 250

6 Kim L. Cavendish President, CEO Museum of Discovery and Science

Fort Lauderdale Not-‐for-‐profit 120

7 Deborah Spiegelman CEO Miami Children's Museum Miami Not-‐for-‐profit 130

8 Tina Philips President, CEO Palm Beach Habilitation Center Lake Worth Not-‐for-‐profit 122

9 Ellyn Okrent CEO Florence Fuller Child Development Centers Boca Raton Not-‐for-‐profit 110

10 Eileen Maloney-‐Simon CEO YWCA of Greater Miami-‐Dade, Inc. Miami Not-‐for-‐profit 180

TOP 10 WOMEN-LED NOT-fOR-PROfIT ORGANIzATIONS IN fLORIDA

13

Rank Name Title Organization City Industry Number of Employees

34 Lisa Davis CEO Analytics Partners Jacksonville Information Technology 29

35 Jennifer Cramer President The Spice Lab Pompano Beach Wholesale and Distribution 25

36 Miranda Monahan CEO M-‐PowerTech, LLC Bradenton Information Technology 6 37 Susana Robledo Founder, CEO CUBE CARE Miami Lakes Manufacturing 28

38 Meg Green Founder, CEO Meg Green & Associates Miami Financial 11

39 Tanya Meyer President ACE Staffing Unlimited, Inc. Mount Dora Temporary Employment

Agency 1006

40 Leslie Baumann, MD CEO Baumann Cosmetic & Research Institute Miami Healthcare 27

41 Lane Hickey-‐Wiggins CEO Douglass Screen Printers Lakeland Manufacturing 28

42 Christina Hite President Dix.Hite + Partners, Inc. Longwood Engineering and Construction 21

43 Sally Hayes President Federal Eastern International, Inc.

Saint Petersburg Wholesale and Distribution 8

44 Betsy McGee President Aluminum Distributing, Inc. dba ADI Metal

Fort Lauderdale Wholesale and Distribution 8

45 Judith Cuppy Owner, President Senior Home Companions, Inc. Sarasota Healthcare 905

46 Annie Mecias President JA & M Developing Corp.

Pembroke Pines Construction 60

47 Judy Leibovit President Sweet Endings West Palm Beach Manufacturing 24

48 Deborah Fuddy President MediaSource Worldwide Tampa Advertising / Marketing 5

49 Debbie Margolis Horwitz President, Executive Producer

Kreative Kontent Co Fort Lauderdale

Production and Content Creation 4

50 Ann Duncan Founder, President Vertical Integration, Inc. Tampa Real Estate 16

TOP 10 WOMEN-‐LED NOT-‐FOR-‐PROFIT ORGANIZATIONS IN FLORIDA Rank Name Title Organization City Industry Number of

Employees 1 Donna E. Shalala President University of Miami Coral Gables Education 13710

2 Dr. Barbara Weinstein President, CEO Family Central, Inc. North Lauderdale Not-‐for-‐profit 410

3 Sister Linda Bevilacqua President Barry University Miami Education 1792 4 Gillian Thomas President, CEO Museum of Science, Inc. Miami Not-‐for-‐profit 77 5 Kristi Mollis President, CEO Everglades University Boca Raton Education 250

6 Kim L. Cavendish President, CEO Museum of Discovery and Science

Fort Lauderdale Not-‐for-‐profit 120

7 Deborah Spiegelman CEO Miami Children's Museum Miami Not-‐for-‐profit 130

8 Tina Philips President, CEO Palm Beach Habilitation Center Lake Worth Not-‐for-‐profit 122

9 Ellyn Okrent CEO Florence Fuller Child Development Centers Boca Raton Not-‐for-‐profit 110

10 Eileen Maloney-‐Simon CEO YWCA of Greater Miami-‐Dade, Inc. Miami Not-‐for-‐profit 180

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MIAMI 305.374.1000

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ORLANDO 407.404.5000

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TALLAHASSEE 904.630.6344

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