2017-11-01T16:29:24-05:00 2016-12-31 271728945 PKF O'CONNOR DAVIES LLP 665 FIFTH AVENUE NEW YORK NY 10022 990 2016-01-01 132644507 WORLD TRADE CENTERS ASSOCIATION INC WORL 2124322626 120 BROADWAY NO 3350 NEW YORK NY 10271 SCOTT FERGUSON CHIEF EXECUTIVE OFFICER 2124322626 2017-11-01 1 GARRETT M HIGGINS P00543209 2122862600 2017-11-01 65.51.112.58 2017-11-01 16:55:25 ED P 5FBDCBD040DC1AD11941E9056BDD8F8313149616 804AA392198F256BE40B8377219FFF576D02775F 2016 2021-01-29 14:40:06Z SCOTT D FERGUSON 120 BROADWAY NO 3350 NEW YORK NY 10271 9073756 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. 21 20 18 35 0 0 0 0 6419167 5040002 1689205 714607 10815 81016 8119187 5835625 0 0 0 0 3119134 2532218 0 0 0 4243983 5909541 7363117 8441759 756070 -2606134 19196269 17814660 1570602 2936326 17625667 14878334 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 EXHANGE.SEE SCHEDULE O FOR CONTINUATIONTHE FOLLOWING ARE THE LARGEST EVENTS HELD DURING THE YEAR:ANNUAL "GENERAL ASSEMBLY"-AS THE 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 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. IN 2016 THE EVENT WAS HELD IN ALGIERS, ALGERIA, AND BROUGHT TOGETHER ROUGHLY 200 INDIVIDUALS FORM NEARLY 100 UNIQUE WORLD TRADE CENTER MEMBERS. 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"-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 NEWLY-APPOINTED WTCA CHIEF EXECUTIVE OFFICER, AROUND NEW STRATEGIC DIRECTIONS FOR THE ORGANIZATION, WERE ALL PART OF THE PROGRAM IN 2016. THE EVENT SERVED JUST SHY OF 150 ATTENDEES, FROM ROUGHLY 60 UNIQUE WORLD TRADE CENTER MEMBERS. 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 17 0 18 1 0 1 CH 0 0 0 0 X 21 20 1 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X JOHN DREW 2124322626 120 BROADWAY NO 3350 NEW YORK NY 10271 GHAZI ABU NAHL CHAIRMAN 2.00 1.00 X X 0 0 0 JOHN DREW VICE CHAIR & TREASURER 2.00 X X 0 0 0 ANTONIO TRUEBA VICE CHAIR & SECRETARY 2.00 X X 0 0 0 ROLF DRAAK DIRECTOR/INTERIM CEO 40.00 X X 72050 0 0 TOGBE AFEDE DIRECTOR 2.00 X 0 0 0 RUSTU ARGIT DIRECTOR 2.00 X 0 0 0 LARRRY BOUDREAUX 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 PIERRE-ANTOINE GAILLY DIRECTOR 2.00 X 0 0 0 CHARLOTTE GALLOGLY DIRECTOR 2.00 X 0 0 0 OUSAMA GHANNOUM DIRECTOR 2.00 1.00 X 0 0 0 VIJAY KALANTRI DIRECTOR 2.00 1.00 X 0 0 0 CATHERINE LEE DIRECTOR 2.00 1.00 X 0 0 0 FRANCIS LIANG DIRECTOR UNTIL NOVEMBER 2016 2.00 X 0 0 0 LUCIANO MENEZES DIRECTOR 2.00 X 0 0 0 BALARAM MENON DIRECTOR 2.00 X 0 0 0 MARIETTE MULAIRE DIRECTOR 2.00 X 0 0 0 VLADIMIR SALAMATOV DIRECTOR UNTIL APRIL 2016 2.00 X 0 0 0 REMY SWAAB 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 2.00 X 0 0 0 SCOTT FERGUSON CEO AS OF JUNE 2016 40.00 1.00 X 163807 0 36734 NIURKA COTERON DIR. OF CORP SVCS UNTIL OCT. 2016 40.00 1.00 X 156724 0 41928 SCOTT RICHIE GENERAL COUNSEL 40.00 1.00 X 299141 0 40564 SCOTT WANG VICE PRESIDENT, ASIA PACIFIC 40.00 X 155564 0 13919 ARUN MANANSINGH CHIEF INFORMATION OFFICER 40.00 X 139470 0 12263 LINDSAY KASSOF ASSOCIATE COUNSEL 40.00 X 134636 0 21289 1121392 0 166697 6 0 1 0 DORSEY & WHITNEY LLP 51 WEST 52ND STREET NEW YORK NY 10019 LEGAL SERVICES 1422691 120 BROADWAY PROPERTIESSILVERSTEIN PROP 250 GREENWICH STREET 38TH FLOOR NEW YORK NY 10007 PROPERTY MANAGEMENT 528815 MARIOTT HOTEL SERVICES 85 WEST STREET NEW YORK NY 10006 EVENT SERVICES 196931 ASAHI TECHNOLOGIES LLC 349 5TH AVENUE NEW YORK NY 10016 DIGITAL PLATFORM DEVELOPER 156750 MITCHELL & TITUS ONE BATTERY PARK 27TH FLOOR NEW YORK NY 10004 FINANCIAL CONSULTING 112500 7 MEMBERSHIP DUES 900099 3395002 3395002 INITIATION FEES 900099 1475000 1475000 OPTION FEES 900099 170000 170000 5040002 357457 357457 3595281 3238131 357150 357150 357150 WTCA HOLDINGS SERVICE FEE 900099 59898 59898 OTHER INCOME 900099 21118 21118 81016 5835625 5040002 0 795623 810948 1291027 65358 209101 155784 2805572 40675 60968 434133 162518 315256 314476 619648 267286 468509 147852 45148 BAD DEBT 205000 LICENSING COMMISSION 22500 8441759 1436740 1294436 120267 120432 414300 323600 119039 131027 75754 31341 54747 44413 10379336 8529518 3996891 4328981 2616242 2771817 58707 270436 19196269 17814660 783769 2125845 786833 729014 0 81467 1570602 2936326 X 17625667 14878334 17625667 14878334 19196269 17814660 X -2606134 58801 -200000 X X 0 1 X 1 0 0 1 0 31228 9608 21620 44526 21733 22793 44413 RUSSELL 1000 GROWTH INDEX FUND 1007355 F RUSSELL 1000 GROWTH VALUE IND FUND 1185389 F DEUTSCHE X-TRACKERS MSCI EAFE HEDGED EQUITY ETF 949859 F HSBC COMMERCIAL MARKET RATE 1008250 F RESTRICTED FOR LETTERS OF CREDIT 178128 F 4328981 DEFERRED RENT 81467 81467 X 5776559 58801 2999 61800 5714759 60968 59898 120866 5835625 8763124 382333 382333 8380791 60968 60968 8441759 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 2013, WHICH IS THE STANDARD STATUTE OF LIMITATIONS LOOK-BACK PERIOD. PART XI, LINE 2D - OTHER ADJUSTMENTS: REVENUE OF RELATED ORGANIZATIONS 2,999. PART XI, LINE 4B - OTHER ADJUSTMENTS: WTCA HOLDINGS SERVICE FEE 59,898. PART XII, LINE 2D - OTHER ADJUSTMENTS: EXPENSES OF RELATED ORGANIZATIONS 182,333. INITIATION/OPTION FEE REFUND 200,000. 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. 247872 1 1 0 0 1 1 247872 0 247872 1 0 1 0 0 0 PART I, LINE 3, COLUMN (F): ACCOUNTING METHOD: THE ORGANIZATION USES THE ACCRUAL METHOD OF ACCOUNTING. X 0 0 X X X X 1 0 0 SCOTT FERGUSON CEO AS OF JUNE 2016 163652 0 0 0 155 0 10015 0 26719 0 200541 0 0 0 NIURKA COTERON DIR. OF CORP SVCS UNTIL OCT. 2016 130204 0 0 0 26520 0 8760 0 33168 0 198652 0 0 0 SCOTT RICHIE GENERAL COUNSEL 293525 0 0 0 5616 0 15900 0 24664 0 339705 0 0 0 SCOTT WANG VICE PRESIDENT, ASIA PACIFIC 152621 0 0 0 2943 0 8833 0 5086 0 169483 0 0 0 ARUN MANANSINGH CHIEF INFORMATION OFFICER 137809 0 0 0 1661 0 8517 0 3746 0 151733 0 0 0 LINDSAY KASSOF ASSOCIATE COUNSEL 132596 0 0 0 2040 0 8232 0 13057 0 155925 0 0 0 PART I, LINE 1A SCOTT FERGUSON, CEO, RECEIVED A HOUSING ALLOWANCE FOR THREE MONTHS IN THE AMOUNT OF $4,500 PER MONTH. THE BENEFIT WAS NON-TAXABLE AND IS INCLUDED ON SCHEDULE J, PART II, COLUMN (D). PART I, LINE 4A NIURKA COTERON , DIRECTOR OF CORPORATE SERVICES/COMPTROLLER (UNTIL OCTOBER 2016), RECEIVED SEVERANCE PAYMENTS TOTALING $18,851, 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, CHAIRMAN. 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 WIL 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 990 REVIEW IS PERFORMED BY THE AUDIT & RISK COMMITTEE AND THE INTERNAL FINANCIAL PERSON WITH COMPARISON TO THE AUDITED FINANCIAL STATEMENTS AND SCHEDULES PROVIDED TO THE TAX PREPARER. FINAL DRAFT OF THE FORM 990 IS PROVIDED TO ALL BOARD MEMBERS PRIOR TO FILING WITH THE IRS. 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 AND DIRECTOR OF CORPORATE SERVICES. 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 VISIONS. 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 2016. 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: INITIATION/OPTION FEE REFUND -200,000. 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 871 70656 1.00000 1 WORLD TRADE CENTER (BEIJING) BUSINESS SERVICES CO LTD EASEY COMMERCIAL BUILDING 253-261 H WANCHAI, HONG KON CH PROVIDE FACILITY DEVELOPMENT AND TRADE SERVICES TO WTCA MEMBERS CH WTCA HOLDINGS LIMITED C 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 WTCA HOLDINGS LIMITED B 160000 COST WTCA HOLDINGS LIMITED Q 64758 COST