World Computer Exchange Inc
- Assets
- $1.2m
- Revenue
- $128.6k
- Investments
- $0.0
- Employees
- 5
- Location
- Hull, MA
- Founding
- 02/2001
- Data as of
- 06/2021
- EIN
- 04-3529016
Organization Overview
World Computer Exchange Inc is located in Hull, MA. The organization was established in 2001. According to its NTEE Classification (B90) the organization is classified as: Educational Services, under the broad grouping of Education and related organizations. As of 06/2021, World Computer Exchange Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. World Computer Exchange Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, World Computer Exchange Inc generated $128.6k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 10.4% each year . All expenses for the organization totaled $188.9k during the year ending 06/2021. While expenses have increased by 6.6% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF WORLD COMPUTER EXCHANGE IS TO REDUCE THE DIGITAL DIVIDE FOR YOUTH IN DEVELOPING COUNTRIES; TO USE OUR GLOBAL NETWORK OF PARTNERSHIPS TO ENHANCE COMMUNITIES IN THESE COUNTRIES; AND TO PROMOTE THE REUSE OF ELECTRONIC EQUIPMENT (CONTINUED SCHEDULE O)
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN FYE JUNE 30, 2021, WCE DISTRIBUTED 1,734 COMPUTERS TO 100 SCHOOLS IN 10 DEVELOPING COUNTRIES AND PUERTO RICO. OVER 200 VOLUNTEERS IN OUR 5 CHAPTERS REFURBISHED THE COMPUTERS, LOADED THE HARD DRIVES WITH EDUCATIONAL PROGRAMS, AND PREPARE THEM FOR SHIPPING. THE SCHOOLS RECEIVING THE EQUIPMENT ESTIMATE THAT THE EQUIPMENT WILL SERVE 38,000 STUDENTS PER YEAR. WCE WORKS WITH 11 FIELD ASSOCIATES IN 10 DEVELOPING COUNTRIES ON A FEE BASIS. THEY WILL DEVELOP WCE CHAPTERS IN THOSE COUNTRIES, UTILIZING THE WCE PROCESS TO COLLECT, REFURBISH, LOAD, AND DISTRIBUTE COMPUTERS TO LOCAL COMMUNITY SCHOOLS AND OTHER ORGANIZATIONS SERVING YOUTH. THEY WILL ALSO HELP OUR PARTNERS MAINTAIN THEIR COMPUTERS AND PROVIDE SOME TECHNICAL ASSISTANCE. WE ALSO CONTINUE TO SEEK SUPPORT FOR OUR INSPIRE GIRLS INITIATIVE TO DEVELOP SOME RESOURCES FOR OUR PARTNER SCHOOLS TO USE, TO ENCOURAGE GIRST TO STAY IN SCHOOL AND PURSUE CAREERS IN TECHNOLOGY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Timothy Anderson President | OfficerTrustee | 60 | $79,167 |
Pamela Cooney Clerk | OfficerTrustee | 0 | $2,917 |
Jeremy Griffiths Vice Chairman & Treasurer | OfficerTrustee | 7 | $0 |
Suzanne Grant Director | Trustee | 1 | $0 |
Manoj Kumar Director | Trustee | 1 | $0 |
Richard Gingras Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $16,252 |
| All other contributions, gifts, grants, and similar amounts not included above | $363,440 |
| Noncash contributions included in lines 1a–1f | $217,510 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $379,692 |
| Total Program Service Revenue | $0 |
| Investment income | $2,229 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$253,281 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $128,640 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $95,000 |
| Compensation of current officers, directors, key employees. | $9,500 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $35,775 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $8,530 |
| Payroll taxes | $6,573 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,300 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $3,009 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $18,000 |
| Travel | $10 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,454 |
| All other expenses | $0 |
| Total functional expenses | $188,892 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $34,382 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,720 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $989,300 |
| Prepaid expenses and deferred charges | $3,233 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $133,596 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,166,231 |
| Accounts payable and accrued expenses | $18,923 |
| Grants payable | $0 |
| Deferred revenue | $103,550 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $279,532 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $14,308 |
| Other liabilities | $0 |
| Total liabilities | $416,313 |
| Net assets without donor restrictions | $612,594 |
| Net assets with donor restrictions | $137,324 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,166,231 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that World Computer Exchange Inc has recieved totaling $68,708.
| Awarding Organization | Amount |
|---|---|
2022 Act Foundation Inc Dorado, PR PURPOSE: General support | $50,000 |
Carla M Bregman Charitable Foundation Cambridge, MA PURPOSE: CONNECT YOUTH INDEVELOPING COUNTRIES | $10,000 |
Paypal Charitable Giving Fund Washington, DC PURPOSE: General Support | $6,650 |
Roger L Clifton Foundation Boston, MA PURPOSE: GENERAL | $2,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $58 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Uncommon Schools Inc New York, NY | $293,550,038 | $84,601,875 |
Amsterdam House Continuing Care Retirement Community Inc Port Washington, NY | $223,728,704 | $36,044,280 |
Sponsors For Educational Opportunity Inc New York, NY | $71,324,699 | $43,724,114 |
The Achievement Network Ltd Boston, MA | $23,559,572 | $30,118,976 |
Leadership For Educational Equity New York, NY | $8,736,194 | $32,582,451 |
Foundation For City College New York, NY | $332,549,861 | $102,453,904 |
Saga Innovations Framingham, MA | $30,229,601 | $39,236,690 |
Transcend Inc Hastingsonhudson, NY | $40,245,682 | $36,384,149 |
The Baruch College Fund New York, NY | $295,690,612 | $67,294,185 |
S&p Global Foundation New York, NY | $10,276,249 | $7,071,664 |
Workforce Outsource Services Inc Uniondale, NY | $10,340,814 | $13,464,902 |
North Star Academy Foundation Inc New York, NY | $177,913,521 | $11,304,915 |