2025-08-12T11:54:02-05:00 2024-12-31 383567911 REHMANN ROBSON LLC PO BOX 2025 SAGINAW MI 486052025 990 2024-01-01 132644507 WORLD TRADE CENTERS ASSOCIATION INC WORL 2124322704 115 BROADWAY 1202 NEW YORK NY 10006 ZACHARY WELLS FINANCIAL CONTROLLER 2124322704 2025-08-11 1 1 JEFFREY E HERT CPA P00066715 9897999580 2025-08-11 2024 2025-03-06 01:10:19Z JAMES T PERRY 115 BROADWAY 1202 NEW YORK NY 10006 15552066 0 X WWW.WTCA.ORG X 1969 DE TO PROMOTE WORLD TRADE THROUGH THE CONCEPT OF WORLD TRADE CENTERS ESTABLISHED IN CITIES THROUGHOUT THE WORLD. 24 24 13 24 0 0 0 0 5730060 7229846 648279 712231 24383 17 6402722 7942094 15000 0 0 0 2071133 2404062 0 0 0 4863747 5173873 6949880 7577935 -547158 364159 23857209 24872953 1788390 1648055 22068819 23224898 X THE WORLD TRADE CENTERS ASSOCIATION MISSION IS TO FOSTER A GLOBAL WORLD TRADE CENTER NETWORK THAT ENHANCES THE BRAND AND PROMOTES PROSPERITY THROUGH TRADE. 1 0 THE WORLD TRADE CENTERS ASSOCIATION ("WTCA") MEMBER SERVICES DEPARTMENT MAINTAINS AND DEVELOPS RESOURCES, EVENTS, AND PROGRAMS FOR THE WTCA MEMBERSHIP WITH THE PURPOSE OF FACILITATING CONNECTIONS AND TRADE AND INVESTMENT OPPORTUNITIES WORLDWIDE. ACTIVITIES CONDUCTED DURING 2024 INCLUDED THE FOLLOWING:GLOBAL BUSINESS FORUM - ONE OF THE ASSOCIATION'S FLAGSHIP EVENTS, GATHERING REPRESENTATIVES FROM OUR WORLDWIDE NETWORK OF MEMBER WORLD TRADE CENTER BUSINESSES AND THEIR CLIENT NETWORKS. THE WTCA OFFERED A HYBRID EVENT, FEATURING THREE DAYS OF IN-PERSON AND LIVESTREAM PROGRAMMING AND A WEEK OF B2B VIRTUAL MEETING OPPORTUNITIES VIA A COMPLIMENTARY ARTIFICIAL INTELLIGENCE (AI)-POWERED MATCHMAKING PLATFORM. MEMBER FORUM - THE OTHER OF THE ASSOCIATION'S 2024 FLAGSHIP EVENTS WAS THE WTCA MEMBER FORUM; A GATHERING OF REPRESENTATIVES FROM OUR WORLDWIDE MEMBERSHIP AS WELL AS RENOWNED EXPERTS. THE WTCA PRESENTED A HYBRID EVENT - BOTH IN-PERSON IN NEW YORK, NEW YORK AS WELL AS LIVESTREAMING OF THE ENTIRE EVENT - WITH KEYNOTES, PANELS, AND WORKSHOPS FOCUSED ON TRAINING AND EDUCTIONAL OPPORTUNITIES FOR MEMBERS. THE THREE-DAY EVENT ALSO INCLUDED NETWORKING OPPORTUNITIES FOR MEMBERS, STIMULATING GLOBAL CONNECTIONS AND RAISING VISIBILITY OF THE WTCA BRAND. EUROPE REGIONAL MEETING/WTCA OPEN INVESTOR DAY - IN A UNIQUE SETTING, WE WILL WELCOME A BROADER AUDIENCE OF DECISION MAKERS FROM PUBLIC AND PRIVATE SECTOR IN GERMANY INTERESTED IN JOINING OUR UNIQUE GLOBAL COMMUNITY TO SHOWCASE THE WTCA BRAND PROPOSITION. ADDITIONAL REGIONAL MEETINGS WERE HELD IN LATIN AMERICA, NORTH AMERICA, THE MIDDLE EAST & AFRICA, CHINA, AND ASIA PACIFIC. 0 0 0 1 0 0 0 0 0 1 0 0 0 1 1 0 1 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 41 0 1 13 1 0 1 CH HK 0 0 0 0 0 0 X 24 24 1 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X ZACHARY WELLS 2124322704 115 BROADWAY 1202 NEW YORK NY 10006 JOHN DREW CHAIRMAN 4.00 X X 0 0 0 LUCIANO MENEZES VICE CHAIR & SECRETARY 2.00 0.50 X X 0 0 0 REMY SWAAB VICE CHAIR & TREASURER 2.00 X X 0 0 0 GHAZI ABU NAHL DIRECTOR 1.00 X 0 0 0 TOGBE AFEDE XIV DIRECTOR 1.00 X 0 0 0 EDWARD ALLISON WRIGHT DIRECTOR 1.00 X 0 0 0 IVAN BARRIOS DIRECTOR 1.00 X 0 0 0 SCOTT CENTER DIRECTOR 2.00 X 0 0 0 IGNACIO DEL DIRECTOR 1.00 0.50 X 0 0 0 ROLF DRAAK DIRECTOR 1.00 X 0 0 0 MEHRAN EFTEKHAR DIRECTOR 2.00 X 0 0 0 FREERK FABER DIRECTOR 1.00 X 0 0 0 KAREN GERWITZ DIRECTOR 2.00 X 0 0 0 EUGENIO REYES GUZMAN DIRECTOR 1.00 X 0 0 0 IRMOHIZAM IBRAHIM DIRECTOR 1.00 X 0 0 0 VIJAY KALANTRI DIRECTOR 1.00 0.50 X 0 0 0 HALUK KANCA DIRECTOR 1.00 X 0 0 0 CATHERINE LEE DIRECTOR 1.00 1.00 X 0 0 0 PAMELA D PASCUAL DIRECTOR 2.00 X 0 0 0 CRISTINA SBAIZERO DIRECTOR 2.00 X 0 0 0 CHRISTINA SHEN DIRECTOR 1.00 X 0 0 0 AHMED TIBAOUI DIRECTOR 1.00 X 0 0 0 VINEET VERMA DIRECTOR 1.00 X 0 0 0 SIMON WANG DIRECTOR 1.00 X 0 0 0 CRYSTAL EDN EXECUTIVE DIR - MEMBER SERVICES 40.00 X 254176 0 13260 JAMES T PERRY GENERAL COUNSEL 37.00 3.00 X 326209 0 27454 ROBIN VAN PUYENBROECK EXECUTIVE DIR - BUSINESS DEVLMT 39.00 1.00 X 242240 0 19645 SCOTT RICHIE SECRETARY TO THE BOARD 19.00 1.00 X 137928 0 9350 ZACHARY WELLS FINANCIAL CONTROLLER 40.00 X 88155 0 8260 CLARK LACKERT DEPUTY GEN COUNSEL 40.00 X 162017 0 9721 SCOTT WANG VP ASIA PACIFIC - BUSINESS DEVLMT 39.00 1.00 X 177407 0 19857 CHANELLE DIMALANTA SENIOR COMMUNICATIONS MANAGER 40.00 X 107419 0 7945 1495551 0 115492 7 0 1 0 JSA 3024 SIERRA JUNIPER COURT LAS VEGAS NV 89138 PR CONSULTANT FOR BOARD INITIATIVE 592524 VIOLET COMMUNICATIONS 33 PLYMOTH ST LL2 MONTCLAIR NJ 07042 PUBLIC RELATIONS 174935 MARIETTE MULAIRE 181 MASSON ST WINNIPEG MANITOBA CA R2H0H3 PR CONSULTANT FOR HQ OPERATIONS 169208 CARLOS RONDEROS CALLE 50 AND 74 SAN FRANCISCO 909 PANAMA CITY PM REGIONAL ENGAGEMENT CONTRACTOR - LTAM 159714 SHEPPARD MULLIN RICHITER & HAMPTON LLP 350 S GRAND AVENUE 40TH FLOOR LOS ANGELES CA 90071 LEGAL - TRADEMARK SERVICES 136784 7 MEMBERSHIP DUES 541990 4041846 4041846 LICENSES FEES 541990 2890000 2890000 OPTIONS FEES 541990 298000 298000 7229846 213490 213490 8108713 7609972 498741 498741 498741 OTHER 900099 17 17 17 7942094 7229846 0 712248 1495679 521993 24533 229778 132079 329187 111813 102380 175297 548077 30637 284013 228533 404645 1266649 34876 28540 67560 REGIONAL EXPENSES 1208116 BAD DEBT EXPENSE 224800 LICENSING COMMISSION 128750 7577935 550155 517428 3817179 2687270 503780 729787 178702 224064 157604 125310 50748 32294 12965532 14819447 1216421 1158506 236430 198936 3532049 3773446 806213 731775 23857209 24872953 264009 605249 319902 378899 1204479 663907 1788390 1648055 X 22068819 23224898 22068819 23224898 23857209 24872953 364159 870716 -78796 0 X X 0 1 X 1 0 0 1 0 28897 22001 6896 106431 81033 25398 22276 22276 0 32294 LEASE LIABILITY - OPERATING LEASE 613907 REFUNDABLE LICENSE FEES 50000 663907 X PART X, LINE 2: MANAGEMENT HAS EVALUATED THE ASSOCIATION'S INCOME TAX FILING POSITIONS FOR FISCAL 2021 THROUGH 2024, THE YEARS WHICH REMAIN SUBJECT TO EXAMINATION AS OF DECEMBER 31, 2024. THE ASSOCIATION CONCLUDED THAT THERE ARE NO SIGNIFICANT UNCERTAIN TAX POSITIONS REQUIRING RECOGNITION IN THE ASSOCIATION'S CONSOLIDATED FINANCIAL STATEMENTS. THE ASSOCIATION DOES NOT EXPECT THE TOTAL AMOUNT OF UNRECOGNIZED TAX BENEFITS ("UTB") (E.G. TAX DEDUCTIONS, EXCLUSIONS, OR CREDITS CLAIMED OR EXPECTED TO BE CLAIMED) TO SIGNIFICANTLY CHANGE IN THE NEXT TWELVE MONTHS. THE ASSOCIATION DOES NOT HAVE ANY AMOUNTS ACCRUED FOR INTEREST AND PENALTIES RELATED TO UTBS AT DECEMBER 31, 2024 OR 2023, AND IS NOT AWARE OF ANY CLAIMS FOR SUCH AMOUNTS BY INCOME TAX AUTHORITIES. EAST ASIA AND THE PACIFIC 1 3 PROGRAM SERVICES FACILITATE MEMBERSHIP SERVICES FOR MEMBERS IN CHINA AND ASIA PACIFIC 517252 MIDDLE EAST AND NORTH AFRICA 0 2 PROGRAM SERVICES FACILITATE MEMBERSHIP SERVICES FOR MEMBERS IN AFRICA & MIDDLE EAST 117300 EUROPE (INCLUDING ICELAND & GREENLAND) 0 2 PROGRAM SERVICES FACILITATE MEMBERSHIP SERVICES FOR MEMBERS IN EUROPE 289077 NORTH AMERICA 0 2 PROGRAM SERVICES FACILITATE MEMBERSHIP SERVICES FOR MEMBERS IN NORTH AMERICA 171321 SOUTH AMERICA 0 3 PROGRAM SERVICES FACILITATE MEMBERSHIP SERVICES FOR MEMBERS IN SOUTH & CENTRAL AMERICA 338083 SOUTH ASIA 0 1 PROGRAM SERVICES FACILITATE MEMBERSHIP SERVICES FOR MEMBERS IN INDIA 126854 EAST ASIA AND THE PACIFIC 0 0 INVESTMENTS 198936 1 13 0 0 1 13 1758823 0 1758823 0 0 1 0 0 0 PART I, LINE 3: THE ORGANIZATION USES THE ACCRUAL METHOD TO ACCOUNT FOR EXPENDITURES. PART IV, LINE 3: THE ORGANIZATION IS REQUIRED TO FILE FORM 5471 BECAUSE IT MEETS THE APPLICABLE THRESHOLD OWNERSHIP REQUIREMENT. X X X X X 0 0 0 JAMES T PERRY GENERAL COUNSEL 267111 0 59098 0 0 0 19573 0 7881 0 353663 0 0 0 CRYSTAL EDN EXECUTIVE DIR - MEMBER SERVICES 215290 0 38886 0 0 0 11005 0 2255 0 267436 0 0 0 ROBIN VAN PUYENBROECK EXECUTIVE DIR - BUSINESS DEVLMT 216133 0 26107 0 0 0 14534 0 5111 0 261885 0 0 0 SCOTT WANG VP ASIA PACIFIC - BUSINESS DEVLMT 177407 0 0 0 0 0 10644 0 9213 0 197264 0 0 0 CLARK LACKERT DEPUTY GEN COUNSEL 162017 0 0 0 0 0 9721 0 0 0 171738 0 0 0 FORM 990, PART III, LINE 2 WTCA OPEN INVESTOR DAY - IN A UNIQUE SETTING, WE WILL WELCOME A BROADER AUDIENCE OF DECISION MAKERS FROM PUBLIC AND PRIVATE SECTOR IN GERMANY INTERESTED IN JOINING OUR UNIQUE GLOBAL COMMUNITY TO SHOWCASE THE WTCA BRAND PROPOSITION. THIS WAS AN ADDITION TO THE EUROPE REGIONAL MEETING. FORM 990, PART VI, SECTION A, LINE 2 MEHRAN EFTEKHAR, DIRECTOR, HAS A BUSINESS RELATIONSHIP WITH GHAZI ABU NAHL, DIRECTOR. FORM 990, PART VI, SECTION A, LINE 6 THE ASSOCIATION HAS THREE CLASSES OF MEMBERSHIP: REGULAR MEMBERS: MEMBERSHIP AS A REGULAR MEMBER IN THE ASSOCIATION IS OPEN ONLY TO THOSE LEGALLY CONSTITUTED BODIES, PUBLIC OR PRIVATE, INCLUDING AGENCIES, AUTHORITIES, BOARDS, COMMISSIONS, CORPORATIONS, DEPARTMENTS, DIVISIONS, GOVERNMENTS, OR GOVERNMENTAL BODIES OF ANY TYPE OR CHARACTER, WHETHER INTERNATIONAL, NATIONAL, REGIONAL, STATE OR MUNICIPAL, AND ANY OTHER ORGANIZATION OF WHATEVER TYPE, KIND OR DESCRIPTION, INVOLVED IN OPERATING, DEVELOPING OR PLANNING A WORLD TRADE CENTER, DESIGNED FOR THE CENTRALIZED ACCOMMODATION OF ACTIVITIES DEVOTED TO WORLD TRADE. AFFILIATE MEMBERS: MEMBERSHIP AS AN AFFILIATE IS OPEN TO ORGANIZATIONS WHICH DO NOT WANT TO ESTABLISH A WORLD TRADE CENTER BUT WHICH PROVIDE CERTAIN TRADE CENTER-RELATED FACILITIES OR SERVICES OR REPRESENT MEMBERSHIP ORGANIZATIONS OF INTERNATIONAL BUSINESS PEOPLE WHICH COMPLEMENT THE ACTIVITIES OF THE ASSOCIATION. SUCH ORGANIZATIONS INCLUDE GOVERNMENT TRADE OFFICES, EXHIBIT FACILITIES, INTERNATIONAL TRADE CLUBS, ECONOMIC DEVELOPMENT ORGANIZATIONS, CHAMBERS OF COMMERCE AND SIMILAR MEMBERSHIP ORGANIZATIONS. SATELLITE MEMBERS: THE LICENSE FEE FOR SATELLITE MEMBERS OF THE ASSOCIATION WAS $200,000 FOR 2024 & 2023. ASIDE FROM THE FEE, THE SATELLITE MEMBERSHIPS VARY TO REGULAR MEMBERSHIPS IN THAT THEY DO NOT HAVE VOTING RIGHTS AND THEY REQUIRE SPONSORSHIP AND A FORMAL LEGAL RELATIONSHIP WITH AN ACTIVE REGULAR MEMBER. FORM 990, PART VI, SECTION A, LINE 7A WTCA'S REGULAR MEMBERS HAVE THE POWER TO ELECT MEMBERS OF THE GOVERNING BODY. (AFFILIATE MEMBERS DO NOT HAVE SUCH RIGHTS.) NOTICES ARE SENT TO THE WTCA'S REGULAR MEMBERS FOR BOARD ELECTIONS. BALLOTS ARE CAST VIA A SECURE INTERNET SITE, FACSIMILE OR E-MAIL TO THE DESIGNATED ELECTION MONITOR AND IN PERSON AT THE GLOBAL BUSINESS FORUM. BALLOTING CLOSES PROMPTLY AT 5PM ON THE CLOSE OF THE ELECTION PERIOD AND NO BALLOTS WILL BE ACCEPTED AFTER THAT TIME. THE BALLOTS ARE CAST; NO BALLOTS ARE DOUBLE COUNTED IF THEY ARE SUBMITTED TWICE. BASED ON THE COUNTS THE NEW BOARD MEMBERS ARE ELECTED BY GEOGRAPHIC REGIONS WITH THE MOST VOTES AND THEN WINNERS ARE CONFIRMED. VOTING RECORDS ARE MAINTAINED IN CONFIDENCE. FORM 990, PART VI, SECTION A, LINE 7B IN ADDITION TO HAVING THE AUTHORITY TO ELECT THE MEMBERS OF THE GOVERNING BODY, REGULAR MEMBERS MAY VOTE ON ANY OTHER MATTER THAT THE BOARD OF DIRECTORS DESIGNATES IN ADVANCE OF THE GLOBAL BUSINESS FORUM AND HAVE AUTHORITY TO ALTER OR AMEND THE CERTIFICATE OF INCORPORATION AND BYLAWS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 REVIEW IS PERFORMED BY THE AUDIT & RISK COMMITTEE OF THE BOARD AND WTCA'S FINANCE DEPARTMENT WITH COMPARISON TO THE AUDITED FINANCIAL STATEMENTS AND SCHEDULES PROVIDED TO THE TAX PREPARER. THE FINAL FORM 990 IS DISTRIBUTED TO ALL BOARD MEMBERS FOR THEIR REVIEW PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION REGULARLY AND CONSISTENTLY MONITORS AND ENFORCES COMPLIANCE WITH ITS CONFLICT OF INTEREST POLICY BY REQUIRING ALL OFFICERS, DIRECTORS AND KEY EMPLOYEES TO ANNUALLY RE-AFFIRM THE POLICY BY SIGNING A CONFLICT OF INTEREST DISCLOSURE FORM, WHICH INCLUDES AN UPDATED LIST OF ALL VENDORS WITH WHICH WTCA OR ANY WTCA AFFILIATE TRANSACTS BUSINESS. BASED ON THE SUBMITTED DISCLOSURE FORMS, THE BOARD SECRETARY COMPILES A MASTER CHART OF EVERY ENTITY WITH WHICH EACH OFFICER, DIRECTOR AND KEY EMPLOYEE (OR THEIR IMMEDIATE RELATIVES) HAS A FINANCIAL INTEREST, AND PROVIDES THAT CHART TO THE AUDIT & RISK COMMITTEE FOR REVIEW. COPIES OF THE DISCLOSURE FORMS ARE KEPT BY THE BOARD SECRETARY. ANY OFFICER, DIRECTOR OR KEY EMPLOYEE IS RECUSED FROM PARTICIPATING IN ANY MATTER THAT PRESENTS A POTENTIAL RELATED PARTY TRANSACTION. FORM 990, PART VI, SECTION B, LINE 15 THE NOMINATION AND COMPENSATION COMMITTEE RECOMMENDS ALL COMPENSATION TO THE INDEPENDENT BOARD OF DIRECTORS FOR APPROVAL. DURING THE BUDGETING PROCESS, THERE IS A DETAILED REVIEW OF COMPENSATION AND FRINGE BENEFITS FOR THE EXECUTIVE DIRECTOR-MEMBER SERVICES, EXECUTIVE DIRECTOR-BUSINESS DEVELOPMENT, AND GENERAL COUNSEL, AS WELL AS OTHER EMPLOYEES AND NEW HIRES. THE METHOD USED COMPARES BENCHMARKS, SURVEYS AND ANALYSIS OF OTHER NONPROFIT ASSOCIATIONS WITH SIMILAR BUSINESS OPERATIONS IN THE NEW YORK CITY AREA. THE BOARD OF DIRECTORS APPROVES ALL COMPENSATION AND DECISIONS ARE DOCUMENTED IN THE MINUTES OF THE BOARD MEETING. THE PROCESS WAS LAST CONDUCTED IN 2024. COMPENSATION BENCHMARKING FOR KEY EMPLOYEES IS CONDUCTED ANNUALLY BY THE BOARD SECRETARY AND GENERAL COUNSEL USING ECONOMIC RESEARCH INSTITUTE (ERI) DATA. ERI COMPILES AND PUBLISHES COMPENSATION STUDIES AND DATA FROM SIMILARLY SITUATED COMPANIED IN THE NYC AREA, THAT ARE NOT FOR PROFIT, WITH SIMILAR SALES FIGURES. THE SALARIES FOR KEY POSITIONS IN THE ASSOCIATION IS COMPARED TO THESE FIGURES AND PROVIDED TO THE WTCA BOARD NOMINATIONS & COMPENSATION COMMITTEE TO EVALUATE WHETHER ANY COMPENSATION ADJUSTMENTS SHOULD BE MADE. IF THE COMMITTEE APPROVES AN ADJUSTMENT IN COMPENSATION FOR ANY KEY EMPLOYEE, IT IS NOTED IN THE EXECUTIVE SESSION MINUTES AND COMMUNICATED BY THE BOARD SECRETARY TO THE FINANCIAL CONTROLLER AND FINANCE COORDINATOR. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. WORLD TRADE CENTERS ASSOCIATION FOUNDATION 115 BROADWAY SUITE 1202 NEW YORK NY 10006 261591065 GRANTMAKING DE 501(C)(3) PF WORLD TRADE CENTERS ASSOCIATION INC 1 WTCA HOLDINGS LIMITED ROOM 801-2 8/F EASEY COMMERCIAL B HENNESSY RD WANCHAI HONG KONG CH PROVIDE FACILITY DEVELOPMENT AND TRADE SERVICES TO WTCA MEMBERS CH WORLD TRADE CENTERS ASSOCIATION INC C 1464 452249 1.00000 1 WORLD TRADE CENTER (BEIJING) BUSINESS SERVICES CO LTD SUITE 2115 TOWER C MINSHENG FINANC NO JIANGUOMENNEI AVENUE DONGCHENG DISTRIC CH PROVIDE FACILITY DEVELOPMENT AND TRADE SERVICES TO WTCA MEMBERS CH WTCA HOLDINGS LIMITED C 59 73200 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0