2018-11-15T18:14:41-06:00 2017-12-31 271728945 PKF O'CONNOR DAVIES LLP 665 FIFTH AVENUE NEW YORK NY 10022 990 2017-01-01 132644507 WORLD TRADE CENTERS ASSOCIATION INC WORL 2124322626 120 BROADWAY SUITE 3350 NEW YORK NY 10271 SCOTT FERGUSON CHIEF EXECUTIVE OFFICER 2124322626 2018-11-15 1 GARRETT M HIGGINS P00543209 2122862600 2018-11-15 4.15.211.182 2018-11-15 17:37:19 ES P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 76A25249E5E94ADAA4B6AEE04382CED6247CFD88 2017 2019-02-21 02:37:17Z SCOTT D FERGUSON 120 BROADWAY SUITE 3350 NEW YORK NY 10271 11983554 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. 23 23 19 32 0 0 0 0 5040002 8342679 714607 393778 81016 102309 5835625 8838766 0 0 0 0 2532218 2720385 0 0 0 5909541 6329578 8441759 9049963 -2606134 -211197 17814660 17949756 2936326 2151875 14878334 15797881 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" APRIL 2-5 IN LAS VEGAS, ATTENDED BY ABOUT 200 DELEGATES AND 70 LOCAL DIGNITARIES, AND REPRESENTING 90 WTCA MEMBERS FROM 33 COUNTRIES. 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" OCTOBER 15-17 IN NEW YORK, ATTENDED BY ABOUT 110 DELEGATES AND 30 OTHER PARTICIPANTS, AND REPRESENTING 66 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 PARTICIPANTS WERE GIVEN WORKSHOPS AND PRESENTATIONS IN BRANDING, TRADEMARK PROTECTION AND PROMOTION, A REVIEW OF AVAILABLE MEMBER SERVICES, AND UPDATES FROM EACH OF THE ORGANIZATION'S FOUR REGIONS. IN ADDITION, NEW MEMBERS WERE GIVEN AN OPPORTUNITY TO GET ORIENTED WITH THE AFFAIRS AND SERVICES OF THE ORGANIZATION, AND TO MEET FELLOW MEMBERS, SOMETIMES FOR THE FIRST TIME. IN ADDITION, A DEMONSTRATION OF BEST PRACTICES ALWAYS AN IMPORTANT PART OF ANY ASSOCIATION'S COLLABORATIVE EFFORTS AND A DISCUSSION WITH THE WTCA CHIEF EXECUTIVE OFFICER AROUND NEW STRATEGIC DIRECTIONS FOR THE ORGANIZATION, WERE ALL PART OF THE PROGRAM IN 2017.PUBLIC RELATIONS CAMPAIGN YEAR-LONG. INITIATED A COMMUNICATIONS PROGRAM 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 PROGRAM WAS TARGETED AT FOUR CORE AUDIENCES: REAL ESTATE DEVELOPERS & INVESTORS; ECONOMIC DEVELOPMENT & TRADE OPINION LEADERS; LOCAL & REGIONAL BUSINESSES IN MEMBER MARKETS; AND COMMUNITY LEADERS IN MEMBER MARKETS. 0 0 0 1 0 0 0 0 0 1 1 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 1 0 1 23 0 19 1 0 1 CH 0 0 0 0 X 23 23 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 120 BROADWAY SUITE 3350 NEW YORK NY 10271 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 AS OF APRIL 2017 2.00 X 0 0 0 RUSTU ARGIT DIRECTOR 2.00 X 0 0 0 SCOTT CENTER DIRECTOR AS OF APRIL 2017 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 AS OF APRIL 2017 2.00 1.00 X 0 0 0 CHRISTIAN HUIJG DIRECTOR AS OF APRIL 2017 2.00 X 0 0 0 VIJAY KALANTRI DIRECTOR 2.00 1.00 X 0 0 0 DIDIER KLING DIRECTOR AS OF APRIL 2017 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 JIULING XIONG DIRECTOR UNTIL SEPTEMBER 30, 2017 2.00 X 0 0 0 JIANRONG YANG DIRECTOR AS OF APRIL 2017 2.00 X 0 0 0 WALTER MS YEH DIRECTOR AS OF APRIL 2017 2.00 X 0 0 0 SCOTT FERGUSON CHIEF EXECUTIVE OFFICER 40.00 1.00 X 316712 0 40846 SCOTT RICHIE GENERAL COUNSEL 40.00 2.00 X 303676 0 43165 SCOTT WANG VICE PRESIDENT, ASIA PACIFIC 32.00 8.00 X 159852 0 14113 ARUN MANANSINGH CHIEF INFORMATION OFFICER 40.00 X 146824 0 14057 LINDSAY KASSOF ASSOCIATE COUNSEL 40.00 X 143000 0 21412 ALEXANDER BROWN DIRECTOR, COMMUNICATIONS & MEMBER RELATIONS 40.00 X 131134 0 11516 JENNIFER GUERRERO CHIEF FINANCIAL OFFICER 40.00 X 130731 0 20728 NIURKA COTERON FORMER DIR. OF CORPORATE SERVICES & CONTROLLER 40.00 X 130910 0 0 1462839 0 165837 8 1 1 0 DORSEY & WHITNEY LLP 51 WEST 52ND STREET NEW YORK NY 10019 LEGAL SERVICES 3895687 120 BROADWAY PROPERTIESSILVERSTEIN PROP 250 GREENWICH STREET 38TH FLOOR NEW YORK NY 10007 PROPERTY MANAGEMENT 537254 MARTIN SALLOUM 600-9990 JASPER AVENUE EDMONTON CA SERVICE CONSULTANT 170045 CARLOS RONDEROS CARRERA 7 NO 74-21 OFFICINA 306 BOGOTA CO SERVICE CONSULTANT 133581 CONVENE HOTEL 810 SEVENTH AVENUE NEW YORK NY 10019 EVENT SERVICES 119724 6 MEMBERSHIP DUES 900099 3998679 3998679 INITIATION FEES 900099 3909000 3909000 OPTION FEES 900099 435000 435000 8342679 337084 337084 3201482 3144788 56694 56694 56694 OTHER INCOME 900099 65904 65904 WTCA HOLDINGS SERVICE FEE 900099 36405 36405 102309 8838766 8342679 0 496087 704399 130910 1480339 74107 203172 127458 3338382 29605 63515 561592 138317 135848 242048 529680 218168 594670 157982 50188 BAD DEBT 188333 LICENSING COMMISSION 81250 9049963 1294436 583933 120432 281642 323600 462000 131027 153179 98030 40960 44413 57070 8529518 7930444 4328981 4821715 2771817 2950337 270436 709436 17814660 17949756 2125845 1036414 729014 610150 400000 81467 105311 2936326 2151875 X 14878334 15797881 14878334 15797881 17814660 17949756 -211197 1130744 0 X X 0 1 X 1 0 0 1 0 31228 12866 18362 44526 28094 16432 22276 22276 57070 RUSSELL 1000 GROWTH INDEX FUND 1281346 F RUSSELL 1000 GROWTH VALUE IND FUND 1218408 F RESTRICTED FOR LETTERS OF CREDIT 179323 F ISHARES CORE MSCI EAFE ETF 2142638 C 4821715 DEFERRED RENT 105311 105311 X 10055950 1130744 186360 1317104 8738846 63515 36405 99920 8838766 9201382 251339 251339 8950043 63515 36405 99920 9049963 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 2014, WHICH IS THE STANDARD STATUTE OF LIMITATIONS LOOK-BACK PERIOD. PART XI, LINE 2D - OTHER ADJUSTMENTS: REVENUE OF RELATED ORGANIZATIONS 186,360. PART XI, LINE 4B - OTHER ADJUSTMENTS: WTCA HOLDINGS SERVICE FEE 36,405. PART XII, LINE 2D - OTHER ADJUSTMENTS: EXPENSES OF RELATED ORGANIZATIONS 251,339. PART XII, LINE 4B - OTHER ADJUSTMENTS: WTCA HOLDINGS SERVICE FEE 36,405. EAST ASIA AND THE PACIFIC 1 1 PROGRAM SERVICES TO STRENGTHEN MEMBERSHIP SERVICES TO THE WTC'S IN CHINA AND THE REST OF ASIA PACIFIC REGION, LOCALIZE MAJOR WTCA DOCUMENTATION, MONITOR THE TRADEMARK PROTECTION IN THE REGION, AND PROMOTE WTCA'S COMMITMENT TO PROSPERITY THROUGH TRADE AND INVESTMENT. 201481 1 1 0 0 1 1 201481 0 201481 1 0 1 0 0 0 PART I, LINE 3, COLUMN (F): ACCOUNTING METHOD: THE ORGANIZATION USES THE ACCRUAL METHOD OF ACCOUNTING. X X X X 1 0 0 SCOTT FERGUSON CHIEF EXECUTIVE OFFICER 310440 0 0 0 6272 0 17238 0 23608 0 357558 0 0 0 SCOTT RICHIE GENERAL COUNSEL 299270 0 0 0 4406 0 17057 0 26108 0 346841 0 0 0 SCOTT WANG VICE PRESIDENT, ASIA PACIFIC 156909 0 0 0 2943 0 8999 0 5114 0 173965 0 0 0 ARUN MANANSINGH CHIEF INFORMATION OFFICER 140095 0 5000 0 1729 0 8987 0 5070 0 160881 0 0 0 LINDSAY KASSOF ASSOCIATE COUNSEL 135399 0 5000 0 2601 0 8727 0 12685 0 164412 0 0 0 JENNIFER GUERRERO CHIEF FINANCIAL OFFICER 130731 0 0 0 0 0 8012 0 12716 0 151459 0 0 0 NIURKA COTERON FORMER DIR. OF CORPORATE SERVICES & 0 0 0 0 130910 0 0 0 0 0 130910 0 0 0 PART I, LINE 4A NIURKA COTERON , FORMER DIRECTOR OF CORPORATE SERVICES/COMPTROLLER (UNTIL OCTOBER 2016), RECEIVED SEVERANCE PAYMENTS TOTALING $130,910, WHICH IS INCLUDED ON SCHEDULE J, PART II, COLUMN (B)(III). 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 2017. 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 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. WORLD TRADE CENTERS ASSOCIATION FOUNDATION 120 BROADWAY SUITE 3350 NEW YORK NY 10271 261591065 SOCIAL WELFARE DE 501(C)(3) PF WORLD TRADE CENTERS ASSOCIATION INC 1 WTCA HOLDINGS LIMITED ROOM 801-2 8F EASEY COMMERCIAL BUILDING 253-261 H WANCHAI, HONG KON CH PROVIDE FACILITY DEVELOPMENT AND TRADE SERVICES TO WTCA MEMBERS CH WORLD TRADE CENTERS ASSOCIATION INC C 9001 432983 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 185674 55028 1.00000 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 WTCA HOLDINGS LIMITED B 430000 COST