2026-09-03T07:49:19-05:00 2025-12-31 383567911 REHMANN ROBSON LLC PO BOX 2025 SAGINAW MI 486052025 990 2025-01-01 132644507 WORLD TRADE CENTERS ASSOCIATION INC WORL 2124322704 115 BROADWAY 1202 NEW YORK NY 10006 ZACHARY WELLS FINANCIAL CONTROLLER 2124322704 2026-09-02 1 JEFFREY E HERT CPA P00066715 9897999580 2026-09-02 2025 JAMES T PERRY 115 BROADWAY 1202 NEW YORK NY 10006 10788116 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 12 24 0 0 0 0 7229846 8264061 712231 564742 17 25000 7942094 8853803 0 0 0 0 2404062 2772266 0 0 0 5173873 5657367 7577935 8429633 364159 424170 24872953 27452826 1648055 1873728 23224898 25579098 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. 0 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 2025 INCLUDED THE FOLLOWING:GLOBAL BUSINESS FORUM - ONE OF THE ASSOCIATION'S FLAGSHIP EVENTS, GATEHRING REPRESENTATIVES FROM OUR WORLDWIDE NETWORK OF MEMBER WORLD TRADE CENTER BUSINESSES AND THEIR CLIENT NETWORKS. THE WTCA OFFERED A THREE-DAY IN-PERSON EVENT, WITH PROGRAMMING AND B2B MATCHMAKING AND MEETINGS VIA AN ONLINE PLATFORM. MEMBER FORUM - THE OTHER OF THE ASSOCIATION'S 2025 FLAGSHIP EVENTS WAS THE WTCA MEMBER FORUM; A GATHERING OF REPRESENTATIVES FROM OUR WORLDWIDE MEMBERSHIP AS WELL AS RENOWNED EXPERTS. THE WTCA PRESENTED A VIRTUAL 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. INVESTOR DAY/MEXICO CITY, MEXICO - WTCA HELD AN INVITE-ONLY INVESTOR DAY TO INTRODUCE THE WORLD TRADE CENTER BRAND TO AN AUDIENCE OF DEVELOPERS IN MEXICO. THE HALF-DAY PROGRAM INCLUDED PANEL DISCUSSIONS AND NETWORKING.INVESTOR DAY/SAO PAULO, BRAZIL - WTCA HELD AN INVITE-ONLY INVESTOR DAY TO INTRODUCE THE WORLD TRADE CENTER BRAND TO AN AUDIENCE OF DEVELOPERS IN BRAZIL. THE HALF-DAY PROGRAM INCLUDED PANEL DISCUSSIONS AND NETWORKING. 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 28 0 1 12 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 X X 0 0 0 REMY SWAAB VICE CHAIR & TREASURER 2.00 X X 0 0 0 EDWARD ALLISON WRIGHT DIRECTOR 1.00 X 0 0 0 TOGBE AFEDE XIV DIRECTOR 1.00 X 0 0 0 CARLES ANGLADA CASAS DIRECTOR - PARTIAL YEAR 1.00 X 0 0 0 IVAN BARRIOS DIRECTOR - PARTIAL YEAR 1.00 X 0 0 0 SCOTT CENTER DIRECTOR 1.00 X 0 0 0 IGNACIO DEL DIRECTOR 1.00 X 0 0 0 HASSAN EL KOJOK DIRECTOR - PARTIAL YEAR 1.00 X 0 0 0 FREERK FABER DIRECTOR 1.00 X 0 0 0 ANTHONY GEORGAKIS DIRECTOR - PARTIAL YEAR 1.00 X 0 0 0 KAREN GERWITZ DIRECTOR 1.00 X 0 0 0 IRMOHIZAM IBRAHIM DIRECTOR 1.00 X 0 0 0 VIJAY KALANTRI DIRECTOR 1.00 X 0 0 0 CATHERINE LEE DIRECTOR 1.00 X 0 0 0 MINGXING LI DIRECTOR - PARTIAL YEAR 1.00 X 0 0 0 PATRICIA MOINARD DIRECTOR - PARTIAL YEAR 1.00 X 0 0 0 PAMELA D PASCUAL DIRECTOR 1.00 X 0 0 0 EUGENIO REYES GUZMAN DIRECTOR 1.00 X 0 0 0 CHRISTINA SHEN DIRECTOR 1.00 X 0 0 0 CRISTINA SBAIZERO DIRECTOR 1.00 X 0 0 0 AHMED TIBAOUI DIRECTOR - PARTIAL YEAR 1.00 X 0 0 0 VINEET VERMA DIRECTOR 1.00 X 0 0 0 GHAZI ABU NAHL DIRECTOR - PARTIAL YEAR 1.00 X 0 0 0 ROLF DRAAK DIRECTOR - PARTIAL YEAR 1.00 X 0 0 0 MEHRAN EFTEKHAR DIRECTOR - PARTIAL YEAR 1.00 X 0 0 0 HALUK KANCA DIRECTOR - PARTIAL YEAR 1.00 X 0 0 0 SIMON WANG DIRECTOR - PARTIAL YEAR 1.00 X 0 0 0 JAMES T PERRY GENERAL COUNSEL 38.00 2.00 X 339792 0 26638 CRYSTAL EDN EXECUTIVE DIR - MEMBER SER 40.00 X 274823 0 13795 ROBIN VAN PUYENBROECK EXECUTIVE DIR - BUSINESS D 39.00 1.00 X 247937 0 20200 SCOTT RICHIE SECRETARY TO THE BOARD 20.00 X 124672 0 7449 ZACHARY WELLS FINANCIAL CONTROLLER 40.00 X 97498 0 13439 SCOTT WANG VP ASIA PACIFIC - BUSINESS 39.00 1.00 X 197998 0 18536 CLARK LACKERT DEPUTY GEN COUNSEL 40.00 X 182373 0 10911 CHANELLE DIMALANTA SENIOR COMMUNICATIONS MANA 40.00 X 119249 0 7151 SHARON ARMOGAN-AGUAYO MEMBER ENGAGEMENT MANAGER 40.00 X 105507 0 6331 1689849 0 124450 8 0 1 0 DEVINE MILLIMET 111 AMHERST STREET MANCHESTER NH 03101 LEGAL SERVICES 262101 TREXL CONSULTING INC 2100-401 BAY STREET TORONTO ONTARIO CA M5H 2Y4 TRAINING PROGRAM HOSTING SERVICES 226527 JSA 3024 SIERRA JUNIPER COURT LAS VEGAS NV 89138 PR CONSULTING 214100 VIOLET COMMUNICATIONS 33 PLYMOTH ST LL2 MONTCLAIR NJ 07042 PUBLIC RELATIONS 174000 CARLOS RONDEROS CALLE 50 AND 74 SAN FRANCISCO 909 PANAMA CITY PM REGIONAL ENGAGEMENT CONTRACTOR - LTAM 163245 12 LICENSES FEES 541990 4190000 4190000 MEMBERSHIP DUES 541990 3939061 3939061 OPTIONS FEES 541990 135000 135000 8264061 539616 539616 1959439 1934313 25126 25126 25126 OTHER 900099 25000 25000 25000 8853803 8264061 0 589742 1576061 796663 33061 216975 149506 693206 92709 115098 801999 577295 61764 334651 332204 493366 293603 21570 18770 81874 REGIONAL EXPENSES 1206513 LICENSING COMMISSION 327500 BAD DEBT EXPENSE 205245 8429633 517428 742035 2687270 3004140 729787 650623 224064 222681 157284 143764 32294 13520 14819447 17221022 1158506 1120022 198936 127078 3773446 3952951 731775 398754 24872953 27452826 605249 905329 378899 328462 663907 639937 1648055 1873728 X 23224898 25579098 23224898 25579098 24872953 27452826 X 424170 2001890 -36234 -35626 X X 0 1 X 1 0 0 1 0 28577 25941 2636 106431 95547 10884 22276 22276 0 13520 LEASE LIABILITY - OPERATING LEASE 264937 REFUNDABLE LICENSE FEES 375000 639937 X PART X, LINE 2: MANAGEMENT HAS EVALUATED THE ASSOCIATION'S INCOME TAX FILING POSITIONS FOR FISCAL 2022 THROUGH 2025, THE YEARS WHICH REMAIN SUBJECT TO EXAMINATION AS OF DECEMBER 31, 2025. 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, 2025 OR 2024, AND IS NOT AWARE OF ANY CLAIMS FOR SUCH AMOUNTS BY INCOME TAX AUTHORITIES. EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 1 2 PROGRAM SERVICES FACILITATE MEMBERSHIP SERVICES FOR MEMBERS IN CHINA AND ASIA PACIFIC 606060 MIDDLE EAST AND NORTH AFRICA - ALGERIA, BAHRAIN, DJIBOUTI, EGYPT, 0 2 PROGRAM SERVICES FACILITATE MEMBERSHIP SERVICES FOR MEMBERS IN AFRICA & MIDDLE EAST 135395 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 2 PROGRAM SERVICES FACILITATE MEMBERSHIP SERVICES FOR MEMBERS IN EUROPE 267946 NORTH AMERICA - CANADA AND MEXICO, BUT NOT THE UNITED STATES 0 1 PROGRAM SERVICES FACILITATE MEMBERSHIP SERVICES FOR MEMBERS IN NORTH AMERICA 85622 SOUTH AMERICA - ARGENTINA, BOLIVIA, BRAZIL, CHILE, COLUMBIA, ECUADOR, 0 2 PROGRAM SERVICES FACILITATE MEMBERSHIP SERVICES FOR MEMBERS IN SOUTH & CENTRAL AMERICA 287021 SOUTH ASIA - AFGHANISTAN, BANGLADESH, BHUTAN, INDIA, MALDIVES, NEPAL, 0 1 PROGRAM SERVICES FACILITATE MEMBERSHIP SERVICES FOR MEMBERS IN INDIA 112398 EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 0 0 INVESTMENTS 127078 1 10 0 0 1 10 1621520 0 1621520 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 274431 0 65361 0 0 0 20368 0 6270 0 366430 0 0 0 CRYSTAL EDN EXECUTIVE DIR - MEMBER SER 221751 0 53072 0 0 0 11444 0 2351 0 288618 0 0 0 ROBIN VAN PUYENBROECK EXECUTIVE DIR - BUSINESS D 222676 0 25261 0 0 0 14870 0 5330 0 268137 0 0 0 SCOTT WANG VP ASIA PACIFIC - BUSINESS 182998 0 15000 0 0 0 12266 0 6270 0 216534 0 0 0 CLARK LACKERT DEPUTY GEN COUNSEL 167373 0 15000 0 0 0 10911 0 0 0 193284 0 0 0 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 2025 AND 2024. 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 2025. 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 AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST OR BY VISTING THE ORGANIZATIONS WEBSITE. THE CONFLICT OF INTEREST POLICY IS NOT AVAILABLE TO THE PUBLIC. FORM 990, PART XI, LINE 9: LOSS ON INVESTMENT IN SUBSIDIARY -35,626. 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. 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 304 432520 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 40 55648 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0