World Education Services Inc
- Assets
- $221.9m
- Revenue
- $107.6m
- Investments
- $165.0m
- Employees
- 291
- Location
- New York, NY
- Founding
- 06/1981
- Data as of
- 12/2021
- EIN
- 23-7396384
Organization Overview
World Education Services Inc is located in New York, NY. The organization was established in 1981. According to its NTEE Classification (Q22) the organization is classified as: International Academic Exchange, under the broad grouping of International, Foreign Affairs & National Security and related organizations. As of 12/2021, World Education Services Inc employed 291 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. World Education Services 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 12/2021, World Education Services Inc generated $107.6m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 14.5% each year . All expenses for the organization totaled $71.2m during the year ending 12/2021. While expenses have increased by 12.0% per year over the past 7 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.
Since 2018, World Education Services Inc has awarded 75 individual grants totaling $7,472,549. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
HELP PEOPLE THRIVE IN NEW PLACES AND HELP SOCIETY SEE THE VALUE OF PEOPLE'S EDUCATION & EXPERIENCE.
Describe the Organization's Program Activity:
CREDENTIAL EVALUATION PRODUCTION:WES EVALUATES ACADEMIC CREDENTIALS FROM MORE THAN 48,000 INSTITUTIONS IN 203 COUNTRIES AND TERRITORIES AROUND THE WORLD. WES'S INDUSTRY-STANDARD REPORTS ARE RECOGNIZED BY THOUSANDS OF ACADEMIC INSTITUTIONS, LICENSING BODIES, AND EMPLOYERS THROUGHOUT THE UNITED STATES OF AMERICA AND CANADA. IN 2021, WES EVALUATED CREDENTIAL EVALUATIONS FOR: IMMIGRATION (71%), EDUCATION (22%), EMPLOYMENT (3%), AND PROFESSIONAL LICENSING (4%).
GLOBAL TALENT BRIDGE:WES GLOBAL TALENT BRIDGE ("GTB") IS DEDICATED TO HELPING SKILLED IMMIGRANTS FULLY UTILIZE THEIR TALENTS AND EDUCATION IN THE UNITED STATES OF AMERICA AND CANADA. GTB JOINS INSTITUTIONAL PARTNERS, COMMUNITY-BASED ORGANIZATIONS, AND POLICYMAKERS TO HELP SKILLED IMMIGRANTS USE THEIR SKILLS, LEVERAGE THEIR TRAINING, AND ACHIEVE THEIR ACADEMIC AND PROFESSIONAL GOALS.
GRANTMAKING: THE MARIAM ASSEFA FUND:THE WES MARIAM ASSEFA FUND SEEKS TO CATALYZE ECONOMIC INCLUSION, OPPORTUNITIES, AND MOBILITY IN SUPPORT OF IMMIGRANTS AND REFUGEES IN THE UNITED STATES OF AMERICA AND CANADA. THROUGH GRANT MAKING, IMPACT INVESTING, PARTNERSHIPS, AND FIELD-BUILDING, THE MARIAM ASSEFA FUND SUPPORTS EFFORTS TO BRING ABOUT INCLUSIVE ECONOMIES AND TO ENSURE THAT ALL IMMIGRANTS AND REFUGEES CAN ACHIEVE THEIR GOALS AND THRIVE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Esther T Benjamin CEO & Exec. Dir. | Officer | 40 | $601,295 |
Paul Feltman Dep. Ex. Dir. Gtb | Officer | 40 | $310,978 |
Shamira Madhany Man. Dir, Can & Dep. Ex. Dir. | Officer | 40 | $291,503 |
Biren Shah Cto | Officer | 40 | $276,794 |
John Vermaaten Cfo, As Of 2/2021 | Officer | 40 | $275,397 |
Holly Sanders Sr. Dir. Of Global Ops. | Officer | 40 | $270,429 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cprime Inc Business Consultant | 12/30/21 | $569,697 |
Alvarez & Marsal Holdings Llc Project Management | 12/30/21 | $821,048 |
Tbt Management Cons Llc Management Consultant | 12/30/21 | $290,830 |
American Customer Care Inc Outsource Call Centr | 12/30/21 | $2,775,744 |
Korn Ferry Hay Group Inc Recruitment | 12/30/21 | $211,773 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $315,841 |
| 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 | $315,841 |
| Total Program Service Revenue | $102,853,117 |
| Investment income | $235,823 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $4,214,884 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $107,632,026 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,617,708 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $1,925,766 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $4,083,927 |
| Compensation of current officers, directors, key employees. | $1,844,009 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $31,980,125 |
| Pension plan accruals and contributions | $2,090,148 |
| Other employee benefits | $3,157,041 |
| Payroll taxes | $2,544,716 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $357,695 |
| Fees for services: Accounting | $178,280 |
| Fees for services: Lobbying | $51,779 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $7,325 |
| Fees for services: Other | $4,266,201 |
| Advertising and promotion | $837,620 |
| Office expenses | $627,461 |
| Information technology | $1,233,054 |
| Royalties | $0 |
| Occupancy | $1,641,414 |
| Travel | $187,600 |
| 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 | $1,168,114 |
| Insurance | $79,927 |
| All other expenses | $374,017 |
| Total functional expenses | $71,193,891 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,408,995 |
| Savings and temporary cash investments | $42,246,259 |
| Pledges and grants receivable | $116,825 |
| Accounts receivable, net | $67,063 |
| 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 | $1,050,216 |
| Net Land, buildings, and equipment | $778,015 |
| Investments—publicly traded securities | $8,459,149 |
| Investments—other securities | $164,983,618 |
| Investments—program-related | $1,250,000 |
| Intangible assets | $0 |
| Other assets | $551,390 |
| Total assets | $221,911,530 |
| Accounts payable and accrued expenses | $9,825,841 |
| Grants payable | $599,441 |
| Deferred revenue | $19,443,433 |
| 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 | $394,918 |
| Total liabilities | $30,263,633 |
| Net assets without donor restrictions | $191,531,072 |
| Net assets with donor restrictions | $116,825 |
| 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 | $221,911,530 |
Grants Awarded
Over the last fiscal year, World Education Services Inc has awarded $2,447,708 in support to 33 organizations.
| Grant Recipient | Amount |
|---|---|
New York, NY PURPOSE: COVID EMERGENCY GRANT | $300,000 |
Newton, MA PURPOSE: SIIP DEMO PARTICIPANT | $175,000 |
Seatac, WA PURPOSE: SIIP DEMO PARTICIPANT | $175,000 |
Boston, MA PURPOSE: EMPLOYER PRACTICES FUNDING ROUND | $150,000 |
Los Angeles, CA PURPOSE: EMPLOYER PRACTICES FUNDING ROUND | $150,000 |
Woodland, CA PURPOSE: EMPLOYER PRACTICES FUNDING ROUND | $150,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that World Education Services Inc has recieved totaling $50,000.
| Awarding Organization | Amount |
|---|---|
Tarsadia Foundation Newport Beach, CA PURPOSE: PROGRAM SUPPORT | $50,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
World Education Services Inc New York, NY | $221,911,530 | $107,632,026 |
Afs-Usa Inc New York, NY | $16,942,442 | $16,772,784 |
American Academy In Rome New York, NY | $156,286,917 | $13,968,918 |
Alexander Muss Institute For Israel Education Inc Rockville Centre, NY | $21,964,723 | $9,700,291 |
Onward Israel Usa Inc New York, NY | $2,215,370 | $5,939,234 |
Showa Boston Institute For Language And Culture Jamaica Plain, MA | $39,110,971 | $10,562,824 |
Afs Intercultural Programs Inc New York, NY | $14,241,646 | $12,687,356 |
Egyptian-American Enterprise Fund New York, NY | $169,845,703 | $41,150,119 |
International Student Exchange Inc Bay Shore, NY | $14,840,965 | $6,979,556 |
Insead North America Inc Valhalla, NY | $10,753,709 | $6,277,643 |
Program Of Academic Exchange Port Chester, NY | $4,242,998 | $6,723,504 |
School Year Abroad Inc North Andover, MA | $31,777,579 | $4,148,421 |