World Trade Centers Association Inc
- Assets
- $23.3m
- Revenue
- $7.2m
- Investments
- $1.2m
- Employees
- 13
- Location
- New York, NY
- Founding
- 06/1970
- Data as of
- 12/2021
- EIN
- 13-2644507
Organization Overview
World Trade Centers Association Inc is located in New York, NY. The organization was established in 1970. According to its NTEE Classification (S01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, World Trade Centers Association Inc employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. World Trade Centers Association Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2021, World Trade Centers Association Inc generated $7.2m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.7%) each year. All expenses for the organization totaled $4.8m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (6.0%) per year over the past 7 years. 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
TO PROMOTE WORLD TRADE THROUGH THE CONCEPT OF WORLD TRADE CENTERS ESTABLISHED IN CITIES THROUGHOUT THE WORLD.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE WORLD TRADE CENTERS ASSOCIATION ("WTCA") MEMBER SERVICES DEPARTMENT MAINTAINS AND DEVELOPS RESOURCES, EVENTS, AND PROGRAMS FOR THE WTCA MEMBERSHIP WITH THE PURPOSE OF FACILITATING CONNECTIONS AND TRADE AND INVESTMENT OPPORTUNITIES WORLDWIDE. ACTIVITIES CONDUCTED DURING 2021 INCLUDED THE FOLLOWING:GENERAL ASSEMBLY - ONE OF THE ASSOCIATION'S FLAGSHIP EVENTS, GATHERING REPRESENTATIVES FROM OUR WORLDWIDE NETWORK OF MEMBER WORLD TRADE CENTER ("WTC") BUSINESSES AND THEIR CLIENT NETWORKS. IN 2021, THE WTCA OFFERED A FULLY VIRTUAL EVENT, FEATURING THREE DAYS OF LIVESTREAM PROGRAMMING AND A WEEK OF B2B VIRTUAL MEETING OPPORTUNITIES VIA A COMPLIMENTARY ARTIFICIAL INTELLIGENCE (AI)-POWERED MATCHMAKING PLATFORM.MEMBER FORUM - THE OTHER OF THE ASSOCIATION'S 2021 FLAGSHIP EVENTS WAS THE MEMBER FORUM, A GATHERING OF REPRESENTATIVES FROM OUR WORLDWIDE MEMBERSHIP AS WELL AS RENOWNED EXPERTS. IN 2021, THE WTCA PRESENTED A FULLY VIRTUAL EVENT WITH KEYNOTES, PANELS, AND WORKSHOPS FOCUSED ON TRAINING AND EDUCATIONAL OPPORTUNITIES FOR MEMBERS. THE WEEK-LONG EVENT ALSO INCLUDED NETWORKING OPPORTUNITIES VIA A COMPLIMENTARY ARTIFICAL INTELLIEGENCE (AI) POWERED MATCH MAKING PLATFORM, STIMULATING GLOBAL CONNECTIONS AND RAISING VISIBILITY OF THE WTCA BRAND.MEMBER ADVISORY COUNCILS - COMPOSED OF OVER 220 MEMBER REPRESENTATIVES ACROSS ALL THE REGIONS OF THE WORLD, THESE WORKING GROUPS DRIVE GRASS-ROOTS LEVEL INITIATIVES AND BEST PRACTICE PROTOCOLS ACROSS THE CORE WTC BUSINESS MODELS AND SECTORS: NAMELY, AGRICULTURE, BUSINESS CLUBS, CONFERENCES AND EXHIBITIONS, REAL ESTATE, AND TRADE SERVICES. IN 2021, KEY PROJECTS INCLUDED THE PUBLICATION OF THE WTCA TRADE SERVICES OPERATING MANUAL AND A SERIES OF WEBINARS ADDRESSING THE IMPACT OF COVID-19 ON LOCAL ECONOMIES AND BUSINESSES.PUBLIC RELATIONS - CONSISTING OF ONGOING PROGRAMS THAT SEEK TO ELEVATE THE WTCA BRAND THROUGH CONTENT MARKETING, SOCIAL MEDIA MANAGEMENT, MEDIA OUTREACH, PRESS RELEASES, AND KEY MESSAGING TO PROMOTE WTCA INITIATIVES SUCH AS ANNUAL EVENTS AND MEMBERSHIP PROGRAMMING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Arun Manansingh Exec Dir-Corp Svcs | Officer | 40 | $204,201 |
Robin Van Puyenbroeck Exec Dir-Business Devlmt | Officer | 39 | $194,134 |
Scott Wang Vice Pres., Asia-Pacific | 39 | $167,666 | |
James T Perry On 4521 General Counsel | Officer | 37 | $153,358 |
Scott Richie Board Secretary | Officer | 19 | $109,894 |
Joanne Thelmo Corporate Counsel | Officer | 38 | $48,793 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Dorsey & Whitney Llp Legal Services | 12/30/21 | $203,790 |
Carlos Ronderos Regional Sales & Member Engagement | 12/30/21 | $109,992 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $6,347,116 |
| Investment income | $276,168 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $508,250 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,185,978 |
| 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. | $856,886 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $875,067 |
| Pension plan accruals and contributions | $29,560 |
| Other employee benefits | $142,170 |
| Payroll taxes | $115,558 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $441,368 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $88,242 |
| Fees for services: Other | $54,159 |
| Advertising and promotion | $192,068 |
| Office expenses | $32,175 |
| Information technology | $261,348 |
| Royalties | $0 |
| Occupancy | $291,478 |
| Travel | $18,211 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $75,373 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $46,906 |
| Insurance | $59,062 |
| All other expenses | $0 |
| Total functional expenses | $4,791,554 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,556,216 |
| Savings and temporary cash investments | $1,375,839 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $817,323 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $114,699 |
| Net Land, buildings, and equipment | $87,656 |
| Investments—publicly traded securities | $12,462,422 |
| Investments—other securities | $1,243,637 |
| Investments—program-related | $340,985 |
| Intangible assets | $3,294,397 |
| Other assets | $0 |
| Total assets | $23,293,174 |
| Accounts payable and accrued expenses | $631,529 |
| Grants payable | $0 |
| Deferred revenue | $337,707 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $347,223 |
| Total liabilities | $1,316,459 |
| Net assets without donor restrictions | $21,976,715 |
| Net assets with donor restrictions | $0 |
| 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 | $23,293,174 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Real Estate Board Of New York Inc New York, NY | $13,608,943 | $14,285,773 |
Philadelphia Convention & Visitors Bureau Of The Chamber Of Commerce Philadelphia, PA | $21,636,489 | $20,955,897 |
The Chamber Of Commerce For Greater Philadelphia Philadelphia, PA | $17,253,411 | $11,743,354 |
United States Council For International Business New York, NY | $8,377,861 | $9,810,410 |
New Jersey Association Of Realtors Trenton, NJ | $35,262,029 | $9,547,353 |
Long Island Board Of Realtors Inc West Babylon, NY | $32,824,680 | $7,922,994 |
German American Chamber Of Commerce Inc New York, NY | $3,820,432 | $6,890,973 |
Buffalo Niagara Convention & Vistors Bureau Inc Buffalo, NY | $3,394,435 | $6,164,269 |
Lake Placid Chamber Of Commerce Inc Lake Placid, NY | $4,857,333 | $6,938,582 |
Economic Development Council Of Western Massachusetts Inc Springfield, MA | $1,229,213 | $5,047,431 |
Independent Drivers Guild Inc Long Island City, NY | $5,104,857 | $7,835,962 |
Greater Lehigh Valley Chamber Of Commerce Easton, PA | $3,461,943 | $5,381,256 |