Worldscale Assoc Nyc Inc
- Assets
- $3.9m
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 8
- Location
- New York, NY
- Founding
- 04/1973
- Data as of
- 12/2023
- EIN
- 13-2726793
Organization Overview
Worldscale Assoc Nyc Inc is located in New York, NY. The organization was established in 1973. According to its NTEE Classification (Q99) the organization is classified as: International, Foreign Affairs & National Security N.E.C., under the broad grouping of International, Foreign Affairs & National Security and related organizations. As of 12/2023, Worldscale Assoc Nyc Inc employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Worldscale Assoc Nyc 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 12/2023, Worldscale Assoc Nyc Inc generated $1.4m in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (0.1%) each year. All expenses for the organization totaled $1.8m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Worldscale Assoc Nyc Inc has awarded 59 individual grants totaling $608,965. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO ANALYZE SHIPPING COSTS AND PUBLISH ITS FINDINGS FOR SUBSCRIBING MEMBERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
WORLDSCALE ASSOCIATION (NYC), INC. PROVIDES A SERVICE TO THE MARITIME SECTOR OF THE OIL INDUSTRY BY CALCULATING INTERNATIONAL FREIGHT RATES BASED ON THE STIPULATED WORLDSCALE FORMULA. THE ORGANIZATON PROVIDES THESE NOMINAL FREIGHT RATES AS A STANDARD OF REFERENCE TO THOSE SUBSCRIBING TO THE SERVICE OF THE ASSOCIATON BY UPLOADING THE CALCULATED RATES TO ITS WEBSITE. WORLDSCALE ASSOCIATION (NYC) CURRENTLY HAS APPROXIMATELY 200 PAID SUBSCRIBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Basil G Mavroleon Chairman/president | OfficerTrustee | 2.5 | $5,000 |
Bruce Sullivan Vice Chairman/vice-President | OfficerTrustee | 1.75 | $5,000 |
Christoper C Young Treasurer | OfficerTrustee | 1.5 | $5,000 |
Peter Howard-Johnson Jr Secretary | OfficerTrustee | 1.5 | $5,000 |
Daniel Mitchell Director | Trustee | 1.25 | $5,000 |
John Stichter Director | Trustee | 1.25 | $5,000 |
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 | $1,423,483 |
| Investment income | $78,820 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$75,580 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,427,126 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $36,365 |
| 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. | $542,201 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $504,865 |
| Pension plan accruals and contributions | $44,650 |
| Other employee benefits | $108,651 |
| Payroll taxes | $75,994 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $12,538 |
| Fees for services: Accounting | $21,694 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $19,769 |
| Fees for services: Other | $7,720 |
| Advertising and promotion | $0 |
| Office expenses | $36,364 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $99,966 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $24,070 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,667 |
| Insurance | $69,621 |
| All other expenses | $0 |
| Total functional expenses | $1,822,805 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $465,380 |
| Savings and temporary cash investments | $500,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $29,304 |
| Net Land, buildings, and equipment | $10,004 |
| Investments—publicly traded securities | $2,360,221 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $513,540 |
| Total assets | $3,878,449 |
| Accounts payable and accrued expenses | $116,470 |
| Grants payable | $0 |
| Deferred revenue | $1,138,065 |
| 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 | $496,590 |
| Total liabilities | $1,751,125 |
| Net assets without donor restrictions | $2,127,324 |
| 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 | $3,878,449 |
Grants Awarded
Over the last fiscal year, Worldscale Assoc Nyc Inc has awarded $36,365 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
SEAMENS CHURCH INSTITUTE PURPOSE: GENERAL SUPPORT | $5,000 |
COAST GUARD FOUNDATION PURPOSE: GENERAL SUPPORT | $10,000 |
NORTH AMERCIAN MARITIME MINISTRY ASSOCIATIONS (NAMMA) PURPOSE: GENERAL SUPPORT | $2,500 |
CMA EDUCATION FOUNDATION PURPOSE: GENERAL SUPPORT | $5,000 |
MARITIME AQUARIUM PURPOSE: GENERAL SUPPORT | $7,500 |
SUNY MARITIME FOUNDATION PURPOSE: GENERAL SUPPORT | $3,865 |