Nonprofit · EIN 13-2726793
WORLDSCALE ASSOC NYC INC
Tax-exempt · NEW YORK, NY 10038
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $1,933,912 | $1,835,736 | $98,176 | $4,109,236 | $1,838,063 | $2,271,173 |
| December 31, 2024 | 990 | $1,675,422 | $1,807,952 | -$132,530 | $3,858,278 | $1,826,358 | $2,031,920 |
| December 31, 2023 | 990 | $1,427,126 | $1,822,805 | -$395,679 | $3,878,449 | $1,751,125 | $2,127,324 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $1,627,096
- Investment income
- $132,666
- Net gain from sales of assets
- $19,120
- Other revenue
- $174,150
Expenses
- Grants and similar amounts paid
- $33,850
- Compensation of officers, directors and key employees
- $575,000
- Other salaries and wages
- $351,000
- Salaries, compensation and benefits (total)
- $1,283,801
- Professional fundraising fees
- $0
- Legal fees
- $5,000
- Accounting fees
- $13,286
- Occupancy
- $94,753
- Travel
- $11,289
- Depreciation
- $3,337
Balance sheet and other
- Total assets, start of year
- $3,858,278
- Total assets, end of year
- $4,109,236
- Total liabilities, end of year
- $1,838,063
- Net assets, end of year
- $2,271,173
- Publicly traded securities
- $2,879,191
- Net assets without donor restrictions
- $2,271,173
- Gross receipts
- $4,074,760
- Employees
- 7
- Volunteers
- 0
- Year formed
- 1972
- State of legal domicile
- DE
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| THOMAS CUMMING | EXECUTIVE DIRECTOR Officer | 40 | $257,000 | $24,500 |
| ELENOR MCGORTY | OPERATIONS DIRECTOR Officer | 40 | $162,000 | $17,500 |
| FAMATTA FREEMAN | MANAGER OF RATES & SYSTEMS Highest-paid employee | 40 | $114,946 | $10,554 |
| BASIL G MAVROLEON | CHAIRMAN/PRESIDENT Trustee or director, Officer | 2.5 | $5,000 | $0 |
| BRUCE SULLIVAN | VICE CHAIRMAN/VICE-PRESIDE Trustee or director, Officer | 1.75 | $5,000 | $0 |
| CHRISTOPER C YOUNG | TREASURER Trustee or director, Officer | 1.5 | $5,000 | $0 |
| PETER HOWARD-JOHNSON JR | SECRETARY Trustee or director, Officer | 1.5 | $5,000 | $0 |
| CLARE SCHMIDT | DIRECTOR Trustee or director | 1.25 | $5,000 | $0 |
| JOHN STICHTER | DIRECTOR Trustee or director | 1.25 | $5,000 | $0 |
| NEIL MULHERN | DIRECTOR Trustee or director | 1.25 | $5,000 | $0 |
990 for the year ended December 31, 2024: 10 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| THOMAS CUMMING | EXECUTIVE DIRECTOR Officer | 40 | $232,104 | $70,404 |
| ELENOR MCGORTY | OPERATIONS DIRECTOR Officer | 40 | $152,103 | $64,374 |
| FAMATTA FREEMAN | MANAGER OF RATES & SYSTEMS Highest-paid employee | 40 | $114,946 | $29,032 |
| BASIL G MAVROLEON | CHAIRMAN/PRESIDENT Trustee or director, Officer | 2.5 | $5,000 | $0 |
| BRUCE SULLIVAN | VICE CHAIRMAN/VICE-PRESIDENT Trustee or director, Officer | 1.75 | $5,000 | $0 |
| CHRISTOPER C YOUNG | TREASURER Trustee or director, Officer | 1.5 | $5,000 | $0 |
| PETER HOWARD-JOHNSON JR | SECRETARY Trustee or director, Officer | 1.5 | $5,000 | $0 |
| CLARE SCHMIDT | DIRECTOR Trustee or director | 1.25 | $5,000 | $0 |
| JOHN STICHTER | DIRECTOR Trustee or director | 1.25 | $5,000 | $0 |
| NEIL MULHERN | DIRECTOR Trustee or director | 1.25 | $5,000 | $0 |
990 for the year ended December 31, 2023: 10 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| THOMAS CUMMING | EXECUTIVE DIRECTOR Officer | 40 | $232,239 | $68,557 |
| ELEANOR MCGORTY | OPERATIONS DIRECTOR Officer | 40 | $152,238 | $62,557 |
| FAMATTA FREEMAN | MANAGER OF RATES & SYSTEMS Highest-paid employee | 40 | $114,946 | $28,278 |
| BASIL G MAVROLEON | CHAIRMAN/PRESIDENT Trustee or director, Officer | 2.5 | $5,000 | $0 |
| BRUCE SULLIVAN | VICE CHAIRMAN/VICE-PRESIDENT Trustee or director, Officer | 1.75 | $5,000 | $0 |
| CHRISTOPER C YOUNG | TREASURER Trustee or director, Officer | 1.5 | $5,000 | $0 |
| PETER HOWARD-JOHNSON JR | SECRETARY Trustee or director, Officer | 1.5 | $5,000 | $0 |
| DANIEL MITCHELL | DIRECTOR Trustee or director | 1.25 | $5,000 | $0 |
| JOHN STICHTER | DIRECTOR Trustee or director | 1.25 | $5,000 | $0 |
| NEIL MULHERN | DIRECTOR Trustee or director | 1.25 | $5,000 | $0 |
Address and contacts
- Address (IRS master file)
- 15 MAIDEN LN STE 505, NEW YORK, NY 10038-5117
- Principal officer (990 for 2025)
- THOMAS CUMMING, 129 GARFIELD STREET, MASSAPEQUA PARK, NY 11762
- Signed the 990
- THOMAS CUMMING, EXECUTIVE DIRECTOR
- Phone
- (212) 422-2786
- Website
- WWW.WORLDSCALE-USA.COM
- Return prepared by
- PRESTI & NAEGELE LLC
Mission
THE MISSION OF THE ORGANIZATION IS TO ANALYZE SHIPPING COSTS AND UPLOAD ITS FINDINGS FOR SUBSCRIBING MEMBERS OF THE SHIPPING INDUSTRY.
Program accomplishments
- WORLDSCALE ASSOCIATION (NYC), INC. PROVIDES A SERVICE TO THE MARITIME SECTOR OF THE OIL INDUSTRY BY CALCULATING INTERNATIONAL FREIGHT RATES BASED ON THE STIPULATED WORLDSCALE FORMULA. THE ORGANIZATON PROVIDES THESE NOMINAL FREIGHT RATES AS A STANDARD OF REFERENCE TO THOSE SUBSCRIBING TO THE SERVICE OF THE ASSOCIATON BY UPLOADING THE CALCULATED RATES TO ITS WEBSITE. WORLDSCALE ASSOCIATION (NYC) CURRENTLY HAS APPROXIMATELY 200 PAID SUBSCRIBERS.
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | 990 on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 13-2726793
- Tax-exempt status
- 501(c)(6): Business league or chamber of commerce
- Donations deductible
- No
- Exempt since
- 1973
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $4,109,236
- Income (IRS master file)
- $4,074,760
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $1,933,912 | $1,835,736 | $4,109,236 | XML |
| 990 | December 2024 | $1,675,422 | $1,807,952 | $3,858,278 | IRS |
| 990 | December 2023 | $1,427,126 | $1,822,805 | $3,878,449 | XML |
| 990 | December 2022 | $1,283,281 | $1,706,048 | $4,101,775 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2019 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 13-2726793).
Questions about WORLDSCALE ASSOC NYC INC
- What is the EIN of WORLDSCALE ASSOC NYC INC?
- The employer identification number (EIN) of WORLDSCALE ASSOC NYC INC is 13-2726793.
- Is WORLDSCALE ASSOC NYC INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(6) since 1973.
- Are donations to WORLDSCALE ASSOC NYC INC tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does WORLDSCALE ASSOC NYC INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of WORLDSCALE ASSOC NYC INC due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did WORLDSCALE ASSOC NYC INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2025.
- Who is the principal officer of WORLDSCALE ASSOC NYC INC?
- The 990 for the year ended December 31, 2025 names THOMAS CUMMING.
- Who are the officers and directors of WORLDSCALE ASSOC NYC INC?
- The 990 for the year ended December 31, 2025 lists 10 people; 10 received compensation from the organization, the highest $257,000 (THOMAS CUMMING, EXECUTIVE DIRECTOR).
- How much revenue does WORLDSCALE ASSOC NYC INC have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $1,933,912, expenses of $1,835,736 and total assets of $4,109,236 at year end.
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