2019-11-15T17:30:47-06:00 2018-12-31 271728945 PKF O'CONNOR DAVIES LLP 665 FIFTH AVENUE NEW YORK NY 10022 990 2018-01-01 132644507 WORLD TRADE CENTERS ASSOCIATION INC WORL 2124322626 115 BROADWAY NO 1202 NEW YORK NY 10006 SCOTT RICHIE BOARD SECRETARY 2124322626 2019-11-15 1 GARRETT M HIGGINS P00543209 2122862600 4.15.211.182 2019-11-15 17:07:35 ES P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 40DFD97C23B761131A893E112484B80F36E3DF78 2018 2020-03-31 21:24:44Z X SCOTT D FERGUSON 115 BROADWAY NO 1202 NEW YORK NY 10006 10919146 0 X WWW.WTCA.ORG X 1969 DE WORLD TRADE CENTERS ASSOCIATION PROMOTES WORLD TRADE THROUGH THE CONCEPT OF WORLD TRADE CENTERS ESTABLISHED IN CITIES THROUGHOUT THE WORLD. 22 22 21 24 0 19494 0 0 8342679 7591414 393778 1004563 102309 417957 8838766 9013934 0 20000 0 0 2720385 2908346 0 0 0 6329578 4150085 9049963 7078431 -211197 1935503 17949756 17155247 2151875 1391936 15797881 15763311 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 WORLD TRADE CENTERS ASSOCIATION ("WTCA") MEMBER SERVICES PROGRAM PROVIDES OVERALL SUPPORT FOR THE NEEDS OF THE GENERAL WTCA MEMBERSHIP. IT PROVIDES TOOLS, TRAINING AND ASSISTANCE TO HELP FOSTER THE SUCCESS OF WTCA MEMBERS. IT INTEGRATES NEWLY APPROVED MEMBERS INTO THE NETWORK AND MANAGES THE WTCA QUALITY CERTIFICATION PROGRAM. IT ALSO DEVELOPS PUBLICATIONS AND DIRECTORIES TO PROMOTE THE WTCA NETWORK AND ENCOURAGE MEMBER DIALOGUE, COOPERATION AND EXCHANGE.SEE SCHEDULE O FOR CONTINUATIONTHE FOLLOWING ARE THE LARGEST EVENTS HELD DURING THE YEAR:ANNUAL "GENERAL ASSEMBLY"- HELD DURING APRIL 22-25 IN LEEUWARDEN, THE NETHERLANDS, THE GENERAL ASSEMBLY WAS ATTENDED BY ABOUT 260 DELEGATES FROM 39 COUNTRIES, AND MORE THAN 200 REPRESENTATIVES FROM BUSINESSES IN THE NETHERLANDS. AS THE WTCA'S LARGEST ANNUAL GATHERING, THIS EVENT BRINGS TOGETHER CHIEF EXECUTIVES, LICENSEE HOLDERS, DELEGATIONS FROM INDIVIDUAL WORLD TRADE CENTERS' LOCAL GOVERNMENTS AND INDUSTRY, AND OTHER GUESTS TO CONVENE IN A DIFFERENT LOCATION AROUND THE GLOBE. DURING THESE THREE AND A HALF DAYS OF PROGRAMMING, MEMBERS HEAR REPORTS FROM THE BOARD OF DIRECTORS, FELLOW MEMBERS, OUTSIDE EXPERTS AND MANAGEMENT. IT ALSO GIVES HOSTING CITIES THE OPPORTUNITY TO SHOWCASE THEIR LOCAL INDUSTRY AND ECONOMIES, AND PRESENT THEIR REGION AND CITY AS A PRIME LOCATION TO DO BUSINESS. THE PROGRAM CONSISTED OF BEST PRACTICES EXPLANATIONS, A CLOSED-DOOR PLENARY SESSION REVIEWING RESULTS FROM THE PREVIOUS YEAR, STRUCTURED NETWORKING AND CULTURAL PROGRAMMING.ANNUAL "MEMBER SEMINAR"- HELD DURING OCTOBER 14-16 IN NEW YORK, THE ANNUAL MEMBER SEMINAR WAS ATTENDED BY ABOUT 150 DELEGATES, REPRESENTING 60 WTCA MEMBERS. AS THE SECOND LARGEST EVENT HELD EACH YEAR, THE MEMBER SEMINAR IS INTENDED TO SERVE AS AN EDUCATIONAL OPPORTUNITY FOR NEW AND EXISTING MEMBERS. MADE UP OF ALMOST ENTIRELY MEMBERS, THE ATTENDEES PARTICIPATED IN MULTIPLE INTERACTIVE WORKSHOPS RANGING FROM MODERATED GLOBAL BEST PRACTICES AND MEMBER ADVISORY COUNCIL PLANNING SESSIONS, TO MEDIA TRAINING AND DIGITAL PLATFORM ORIENTATION. PROGRAM HIGHLIGHTES INCLUDED A KEYNOTE SPEAKER AND PANEL ON "THE FOURTH ESTATE IN THE NEW NORMAL, AND WHY MEDIA MATTERS, AND A GLOBAL PANEL OF EXPERTS DISCUSSING GLOBAL-LOCAL COLLABORATION STEMMING FROM WTCA'S RECENTLY LAUNCHED WTCA TRADE & INVESTMENT REPORT.PUBLIC RELATIONS CAMPAIGN- ONGOING COMMUNICATIONS PROGRAM SEEKS TO ELEVATE THE WTCA BRAND THROUGH MEDIA OUTREACH STORIES; A CUSTOM-CRAFTED RESEARCH REPORT; MEDIA-FACING EVENTS; AND KEY MESSAGING THROUGH PRESS MATERIALS RELATED TO EVENTS AND CONTENT MARKETING. THE WTCA'S FIRST "TRADE & INVESTMENT REPORT" WAS LAUNCHED IN JUNE, AND ITS NEW ONLINE PUBLICATION WTCA MERIDIAN WAS LAUNCHED IN OCTOBER. 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 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 1 22 0 21 1 1 1 1 CH 0 0 0 0 0 0 X 22 22 1 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X SCOTT D FERGUSON CHIEF EXECUTIVE 2124322626 115 BROADWAY NO 1202 NEW YORK NY 10006 JOHN DREW CHAIRMAN 2.00 X X 0 0 0 REMY SWAAB VICE CHAIR & SECRETARY 2.00 1.00 X X 0 0 0 ROLF DRAAK VICE CHAIR & TREASURER 2.00 1.00 X X 0 0 0 TOGBE AFEDE DIRECTOR 2.00 X 0 0 0 PEDRO PABLO ALAMOS DIRECTOR 2.00 X 0 0 0 RUSTU ARGIT DIRECTOR THROUGH APRIL 2018 2.00 X 0 0 0 SCOTT CENTER DIRECTOR 2.00 X 0 0 0 LEW CRAMER DIRECTOR 2.00 X 0 0 0 MEHRAN EFTEKHAR DIRECTOR 2.00 X 0 0 0 CHARLOTTE GALLOGLY DIRECTOR 2.00 1.00 X 0 0 0 ANDREA GARWOOD DIRECTOR 2.00 1.00 X 0 0 0 CHRISTIAN HUIJG DIRECTOR 2.00 X 0 0 0 VIJAY KALANTRI DIRECTOR 2.00 1.00 X 0 0 0 DIDIER KLING DIRECTOR 2.00 X 0 0 0 CATHERINE LEE DIRECTOR 2.00 1.00 X 0 0 0 LUCIANO MENEZES DIRECTOR 2.00 1.00 X 0 0 0 BALARAM MENON DIRECTOR 2.00 X 0 0 0 MARIETTE MULAIRE DIRECTOR 2.00 X 0 0 0 GHAZI ABU NAHL DIRECTOR 2.00 X 0 0 0 EMMANUEL THAUNIER DIRECTOR 2.00 X 0 0 0 GERARD VAANDRAGER DIRECTOR 2.00 X 0 0 0 JIANRONG YANG DIRECTOR 2.00 X 0 0 0 WALTER MS YEH DIRECTOR 2.00 X 0 0 0 SCOTT FERGUSON CHIEF EXECUTIVE OFFICER 40.00 1.00 X 335692 0 45468 SCOTT RICHIE GENERAL COUNSEL 40.00 2.00 X 320922 0 44647 ARUN MANANSINGH CHIEF OPERATING OFFICER 40.00 X 170565 0 15651 SCOTT WANG VICE PRESIDENT, ASIA PACIFIC 32.00 8.00 X 170936 0 14751 ALEXANDER BROWN DIRECTOR COMMUNICATIONS & MEMBER RELATIONS 40.00 X 135593 0 33280 LINDSAY KASSOF ASSOCIATE COUNSEL THROUGH OCT. 2018 40.00 X 119795 0 10519 1253503 0 164316 6 0 1 0 DORSEY & WHITNEY LLP 51 WEST 52ND STREET NEW YORK NY 10019 LEGAL SERVICES 595244 GRAHAM HOLDING COMPANY 1300 NORTH 17TH STREET SUITE 1700 ARLINGTON VA 22209 PUBLIC RELATIONS SERVICES 227081 CARLOS RONDEROS CARRERA 7 NO 74-21 OFFICINA 306 BOGOTA CO SERVICE CONSULTANT 143742 MARTIN SALLOUM 600-9990 JASPER AVENUE EDMONTON CA SERVICE CONSULTANT 130100 ASAHI TECHNOLOGIES LLC 349 5TH AVENUE NEW YORK NY 10016 DIGITAL PLATFORM DEVELOPER 129375 8 MEMBERSHIP DUES 900099 4097747 4097747 INITIATION FEES 900099 3348667 3348667 OPTION FEES 900099 145000 145000 7591414 354775 354775 2555000 1905212 649788 649788 649788 EQUITY IN SUBSIDIARIES 900099 359652 359652 OTHER INCOME 900099 58305 43744 14561 417957 9013934 7994810 0 1019124 20000 932945 1490742 69185 207854 207620 691654 117150 68743 544804 328399 163171 275515 569700 189656 751422 151133 55195 BAD DEBT 168543 LICENSING COMMISSION 75000 7078431 583933 993729 281642 1699087 462000 483436 153179 164689 98030 58004 57070 40026 7930444 10033459 4821715 51559 600000 664739 2950337 3022023 109436 2500 17949756 17155247 1036414 855650 610150 427001 400000 105311 109285 2151875 1391936 X 15797881 15763311 15797881 15763311 17949756 17155247 X 1935503 -1722057 -248016 X X 0 1 X 1 0 0 1 0 31228 16124 15104 44526 34455 10071 22276 7425 14851 40026 DEFERRED RENT 109285 109285 X 7398798 -1722057 175664 -1546393 8945191 68743 68743 9013934 7185352 175664 175664 7009688 68743 68743 7078431 PART X, LINE 2: MANAGEMENT HAS EVALUATED THE ASSOCIATION'S TAX POSITIONS FOR ALL OPEN TAX YEARS AND HAS CONCLUDED THAT THE ASSOCIATION HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT OR DISCLOSURE TO THE CONSOLIDATED FINANCIAL STATEMENTS. GENERALLY, THE ASSOCIATION IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY U.S. FEDERAL, STATE OR LOCAL TAX AUTHORITIES FOR YEARS BEFORE 2015, WHICH IS THE STANDARD STATUTE OF LIMITATIONS LOOK-BACK PERIOD. PART XI, LINE 2D - OTHER ADJUSTMENTS: WTCA HOLDINGS ADJUSTMENT 175,664. PART XII, LINE 2D - OTHER ADJUSTMENTS: WTCA HOLDINGS ADJUSTMENT 175,664. EAST ASIA AND THE PACIFIC 1 1 PROGRAM SERVICES FACILITATE MEMBERSHIP SERVICES FOR WTCA MEMBERS IN CHINA AND THE REST OF THE ASIA PACIFIC REGION. 196595 EAST ASIA AND THE PACIFIC INVESTMENTS 664739 1 1 0 0 1 1 861334 0 861334 0 0 1 0 0 0 PART I, LINE 3, COLUMN (F): ACCOUNTING METHOD: THE ORGANIZATION USES THE ACCRUAL METHOD OF ACCOUNTING. 1 WORLD TRADE CENTERS ASSOCIATION FOUNDATION 115 BROADWAY SUITE 1202 NEW YORK NY 10006 261591065 501 (C)(3) 20000 FOUNDATION COMPETITION EVENT 1 0 PART I, LINE 2: THE ORGANIZATION MADE A CONTRIBUTION TO WORLD TRADE CENTERS FOUNDATION, A RELATED TAX-EXEMPT ORGANIZATION, TO SPONSOR A COMPETITION FOR TRADE PROMOTION PROJECTS BY YOUNG ENTREPRENEURS NOMINATED BY WTCA MEMBERS. THE APPROVAL OF THE GRANT WAS DOCUMENTED IN THE MINUTES OF THE BOARD OF DIRECTORS. X X X X 1 0 0 SCOTT FERGUSON CHIEF EXECUTIVE OFFICER 322569 0 12648 0 475 0 20461 0 25007 0 381160 0 0 0 SCOTT RICHIE GENERAL COUNSEL 308233 0 12361 0 328 0 19640 0 25007 0 365569 0 0 0 ARUN MANANSINGH CHIEF OPERATING OFFICER 164726 0 5731 0 108 0 10415 0 5236 0 186216 0 0 0 SCOTT WANG VICE PRESIDENT, ASIA PACIFIC 164877 0 5893 0 166 0 9533 0 5218 0 185687 0 0 0 ALEXANDER BROWN DIRECTOR COMMUNICATIONS & MEMBER RELATIONS 130217 0 5304 0 72 0 8458 0 24822 0 168873 0 0 0 PART I, LINE 4A LINDSAY KASSOF, ASSOCIATE COUNSEL, RECEIVED SEVERANCE PAYMENTS TOTALING $90,735, WHICH IS INCLUDED IN REPORTABLE COMPENSATION ON FORM 990, PART VII, COLUMN (D). 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 TWO 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 FACILITATES 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. FORM 990, PART VI, SECTION A, LINE 7A NOTICES ARE SENT TO THE WTCA'S 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 GENERAL ASSEMBLY. 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 MEMBERS HAVE SOLE AUTHORITY TO AMEND THE WTCA'S 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 DRAFT OF THE 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 GENERAL COUNSEL 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 GENERAL COUNSEL. 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 FOR COMPENSATION AND FRINGE BENEFITS FOR THE CEO, KEY EMPLOYEES, 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 AREA. THE BOARD OF DIRECTORS APPROVES ALL THE COMPENSATION DURING THE BOARD MEETING AND IT IS DOCUMENTED IN THE MINUTES. THE PROCESS WAS LAST CONDUCTED IN 2018. 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 XI, LINE 9: ADJUST INVESTMENT IN WTCA HOLDINGS -248,016. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS A COMMITTEE THAT ASSUMES REPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. 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