Skip to content
Nonprofiteer
← WOMENS WORLD BANKING INC

Form 990 for tax year 2022

Filed by WOMENS WORLD BANKING INC.

Totals

Total revenue
$13,414,983
Total expenses
$18,499,882
Contributions and grants received
$8,348,461
Grants paid
$359,789
Program service revenue
$3,234,577
Investment income
$369,062
Other revenue
$1,462,883
Total assets, end of year
$39,438,414
Total liabilities, end of year
$4,933,174
Net assets or fund balances, end of year
$34,505,240
Program services expenses (Part IX)
$14,390,907
Management and general expenses
$1,641,627
Fundraising expenses
$2,467,348
Program service expenses (Part III)
$14,390,907

Program services were 77.8% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $2,522,595

  • 1f · All other contributions, gifts and grants

    $5,825,866

  • 2a · Program service revenue: FEES FOR SERVICE

    total $3,038,220 · related or exempt $3,038,220

  • 2b · Program service revenue: WORKSHOP FEES

    total $112,000 · related or exempt $112,000

  • 2c · Program service revenue: MEMBERSHIP DUES

    total $84,357 · related or exempt $84,357

  • 3 · Investment income

    total $325,177 · excluded $325,177

  • 7a · Gross sales of assets other than inventory

    securities $11,195,721

  • 7b · Less cost or other basis and sales expenses

    securities $11,151,836

  • 7c · Gain or loss

    securities $43,885

  • 7d · Net gain or loss

    total $43,885 · excluded $43,885

  • 11a · Other revenue: CARRIED INTEREST INCOM

    total $1,460,653 · excluded $1,460,653

  • 11b · Other revenue: OTHER REVENUE

    total $2,230 · related or exempt $2,230

  • 11e · Other revenue, total

    $1,462,883

Functional expenses

Part IX, the statement of functional expenses.

  • 3 · Grants to foreign organizations and individuals

    total $359,789 · program services $359,789

  • 5 · Compensation of officers, directors and key employees

    total $3,930,131 · program services $2,657,957 · management and general $469,691 · fundraising $802,483

  • 7 · Other salaries and wages

    total $7,090,839 · program services $5,536,048 · management and general $564,635 · fundraising $990,156

  • 8 · Pension plan contributions

    total $319,702 · program services $243,690 · management and general $27,383 · fundraising $48,629

  • 9 · Other employee benefits

    total $897,840 · program services $685,934 · management and general $65,519 · fundraising $146,387

  • 10 · Payroll taxes

    total $637,536 · program services $472,599 · management and general $59,688 · fundraising $105,249

  • 11b · Fees: legal

    total $123,045 · program services $79,460 · management and general $43,585

  • 11c · Fees: accounting

    total $174,528 · program services $53,738 · management and general $113,290 · fundraising $7,500

  • 11f · Fees: investment management

    total $88,775 · management and general $88,775

  • 11g · Fees: other

    total $2,813,809 · program services $2,693,045 · management and general $38,075 · fundraising $82,689

  • 13 · Office expenses

    total $164,912 · program services $138,582 · management and general $7,305 · fundraising $19,025

  • 16 · Occupancy

    total $494,546 · program services $348,744 · management and general $52,763 · fundraising $93,039

  • 17 · Travel

    total $567,873 · program services $503,147 · management and general $14,212 · fundraising $50,514

  • 19 · Conferences, conventions and meetings

    total $131,399 · program services $123,302 · management and general $2,519 · fundraising $5,578

  • 22 · Depreciation, depletion and amortization

    total $95,240 · program services $67,721 · management and general $9,958 · fundraising $17,561

  • 23 · Insurance

    total $79,281 · program services $55,907 · management and general $8,459 · fundraising $14,915

  • 24a · Other expenses: LICENSES, DUES, SUBSCRI

    total $490,254 · program services $371,244 · management and general $35,387 · fundraising $83,623

  • 24b · Other expenses: INCOME TAXES

    total $40,383 · management and general $40,383

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $21,946,476 · end of year $16,132,457

  • 2 · Savings and temporary cash investments

    beginning of year $7,171 · end of year $337,949

  • 3 · Pledges and grants receivable

    beginning of year $410,095 · end of year $280,251

  • 4 · Accounts receivable

    beginning of year $223,514 · end of year $341,029

  • 9 · Prepaid expenses and deferred charges

    beginning of year $377,949 · end of year $487,483

  • 10a · Land, buildings and equipment: cost or other basis

    $1,267,624

  • 10b · Land, buildings and equipment: accumulated depreciation

    $985,972

  • 10c · Land, buildings and equipment, net

    beginning of year $240,538 · end of year $281,652

  • 11 · Investments: publicly traded securities

    beginning of year $21,002,843 · end of year $17,055,495

  • 12 · Investments: other securities

    beginning of year $1,681,499 · end of year $1,244,741

  • 15 · Other assets

    beginning of year $100,476 · end of year $3,277,357

  • 17 · Accounts payable and accrued expenses

    beginning of year $745,110 · end of year $790,108

  • 19 · Deferred revenue

    beginning of year $3,551 · end of year $128,070

  • 25 · Other liabilities

    beginning of year $1,851,818 · end of year $4,014,996

  • 27 · Net assets without donor restrictions

    beginning of year $9,998,699 · end of year $9,976,599

  • 28 · Net assets with donor restrictions

    beginning of year $33,391,383 · end of year $24,528,641

Mission and programs · 2022

Mission

THE MISSION OF WOMEN'S WORLD BANKING IS TO EXPAND THE ECONOMICASSETS, PARTICIPATION AND POWER OF LOW-INCOME WOMEN AND THEIRHOUSEHOLDS BY HELPING THEM ACCESS FINANCIAL SERVICES, KNOWLEDGE ANDMARKETS. FOR MORE INFORMATION, SEE SCHEDULE O.

Activities or mission (Part I)

THE MISSION OF WOMEN'S WORLD BANKING IS TO EXPAND THE ECONOMIC ASSETS, SEE SCHEDULE O

  • WOMEN'S WORLD BANKING'S PROGRAMS HOLDS THE ORGANIZATION'S PRIMARY PROGRAMMATIC ACTIVITIES. WITHIN WWB'S PROGRAMMING, THE ORGANIZATION HAS THREE PRIMARY FOCUS AREAS:(A) DEVELOP MARKET DRIVEN FINANCIAL SOLUTIONS: LEVERAGING RIGOROUS RESEARCH AND INTELLIGENCE IN KEY MARKETS, THE ORGANIZATION IDENTIFIES BARRIERS TO WOMEN'S FINANCIAL INCLUSION. THE ORGANIZATION THEN WORKS WITH CRITICAL PARTNERS WITHIN PRIORITY MARKETS (INCLUDING POLICYMAKERS, REGULATORS, AND FINANCIAL SERVICE PROVIDERS) TO OVERCOME THESE BARRIERS BY DEVELOPING POLICY STRATEGIES AND COMMERCIALLY-VIABLE SOLUTIONS TO HELP BRING FINANCIAL SERVICES TO UNDERBANKED WOMEN. SEE SCHEDULE O.

    Expenses $12,428,417 · Grants $359,789 · Revenue $317,251

  • WWB ASSET MANAGEMENT LLC MANAGES PRIVATE EQUITY INVESTMENTS IN HIGH PERFORMING, WOMEN FOCUSED FINANCIAL INSTITUTIONS WORLDWIDE AND WORKS TO ACHIEVE OBJECTIVES OF DEMONSTRATING THE INVESTMENT CASE FOR CONSCIENTIOUS, WOMEN FOCUSED FINANCIAL INSTITUTIONS WHILE ALSO ACHIEVING POSITIVE ECONOMIC RETURNS.

    Expenses $1,962,490 · Revenue $2,919,556

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • INEKE BUSSEMAKER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • EMER DOOLEY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • MARTIN IHRIG

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • MUNA SUKHTIAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • JANET TRUNCALE

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    5

  • MICHAEL USEEM

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • ANIQA SANDHU

    BOARD VICE CHAIR

    Total calculated
    $0
    Hours/week
    5

  • RUPAL PATIL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • SEEMA HINGORANI

    DIRECTOR (AS OF 6/24/22)

    Total calculated
    $0
    Hours/week
    5

  • ZOUERA YOUSSOUFOU

    DIRECTOR (AS OF 6/24/22)

    Total calculated
    $0
    Hours/week
    5

  • CARLOS HORNILLOS-DALISME

    CFAO AND TREASURER

    Total calculated
    $296,337
    From this org
    $237,379
    From related orgs
    $0
    Other
    $58,958
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $229,461
    Bonus
    $7,021
    Other
    $897
    Deferred
    $12,053
    Nontaxable benefits
    $46,905
    Filer's total
    $296,337

  • MARY ELLEN ISKENDERIAN

    PRESIDENT AND CEO

    Total calculated
    $504,927
    From this org
    $488,052
    From related orgs
    $0
    Other
    $16,875
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $485,478
    Bonus
    $0
    Other
    $2,574
    Deferred
    $15,250
    Nontaxable benefits
    $1,625
    Filer's total
    $504,927

  • JOHN JONES

    COO, EVP AND SECRETARY

    Total calculated
    $435,678
    From this org
    $375,305
    From related orgs
    $0
    Other
    $60,373
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $363,920
    Bonus
    $10,800
    Other
    $585
    Deferred
    $15,250
    Nontaxable benefits
    $45,123
    Filer's total
    $435,678

  • CHRISTINA JUHASZ

    CHIEF INVESTMENT OFFICER, WAM

    Total calculated
    $274,864
    From this org
    $218,986
    From related orgs
    $0
    Other
    $55,878
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $214,486
    Bonus
    $2,867
    Other
    $1,633
    Deferred
    $11,097
    Nontaxable benefits
    $44,781
    Filer's total
    $274,864

  • KALPANA AJAYAN

    REGIONAL HEAD, SOUTH ASIA

    Total calculated
    $212,936
    From this org
    $199,796
    From related orgs
    $0
    Other
    $13,140
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $194,046
    Bonus
    $5,750
    Other
    $0
    Deferred
    $11,472
    Nontaxable benefits
    $1,668
    Filer's total
    $212,936

  • ADE ASHAYE

    REGIONAL HEAD, AFRICA

    Total calculated
    $231,786
    From this org
    $210,049
    From related orgs
    $0
    Other
    $21,737
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $203,917
    Bonus
    $6,132
    Other
    $0
    Deferred
    $10,502
    Nontaxable benefits
    $11,235
    Filer's total
    $231,786

  • TAHARAH ISA

    GLOBAL HEAD, HUMAN RESOURCES

    Total calculated
    $250,429
    From this org
    $222,592
    From related orgs
    $0
    Other
    $27,837
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $215,143
    Bonus
    $6,552
    Other
    $897
    Deferred
    $11,247
    Nontaxable benefits
    $16,590
    Filer's total
    $250,429

  • CHRISTINA MAYNES

    REGIONAL HEAD,SOUTHEAST ASIA

    Total calculated
    $230,058
    From this org
    $214,476
    From related orgs
    $0
    Other
    $15,582
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $208,200
    Bonus
    $6,276
    Other
    $0
    Deferred
    $8,618
    Nontaxable benefits
    $6,964
    Filer's total
    $230,058

  • KAREN MILLER

    VP, WOMEN'S DIGITAL & FINANCIAL INCLUSION (END 08/

    Total calculated
    $283,920
    From this org
    $259,405
    From related orgs
    $0
    Other
    $24,515
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $169,521
    Bonus
    $3,559
    Other
    $86,325
    Deferred
    $13,012
    Nontaxable benefits
    $11,503
    Filer's total
    $283,920

  • HARSHA RODRIGUES

    EVP, HEAD OF CLIENT SERVICES

    Total calculated
    $327,232
    From this org
    $268,226
    From related orgs
    $0
    Other
    $59,006
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $259,559
    Bonus
    $7,770
    Other
    $897
    Deferred
    $13,738
    Nontaxable benefits
    $45,268
    Filer's total
    $327,232

  • LESLIE WETZEL

    CHIEF DEVELOPMENT OFFICER

    Total calculated
    $333,963
    From this org
    $302,612
    From related orgs
    $0
    Other
    $31,351
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $292,823
    Bonus
    $8,892
    Other
    $897
    Deferred
    $15,260
    Nontaxable benefits
    $16,091
    Filer's total
    $333,963

  • ANDY WOOLNOUGH

    GLOBAL HEAD, ADVOCACY

    Total calculated
    $270,607
    From this org
    $256,875
    From related orgs
    $0
    Other
    $13,732
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $249,537
    Bonus
    $7,338
    Other
    $0
    Deferred
    $12,477
    Nontaxable benefits
    $1,255
    Filer's total
    $270,607

  • ELISABETH BALLREICH

    PRINCIPAL INVESTMENT OFFICER, WAM

    Total calculated
    $211,512
    From this org
    $171,306
    From related orgs
    $0
    Other
    $40,206
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $168,532
    Bonus
    $2,457
    Other
    $317
    Deferred
    $8,916
    Nontaxable benefits
    $31,290
    Filer's total
    $211,512

  • MARINA DIMOVA

    DIRECTOR, NETWORK ENAGEMENT AND FINANCIAL INDUSTRY

    Total calculated
    $243,370
    From this org
    $188,523
    From related orgs
    $0
    Other
    $54,847
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $182,381
    Bonus
    $5,759
    Other
    $383
    Deferred
    $9,886
    Nontaxable benefits
    $44,961
    Filer's total
    $243,370

  • SONJA KELLY

    DIRECTOR, RESEARCH AND ADVOCACY

    Total calculated
    $224,345
    From this org
    $170,689
    From related orgs
    $0
    Other
    $53,656
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $165,140
    Bonus
    $5,242
    Other
    $307
    Deferred
    $8,998
    Nontaxable benefits
    $44,658
    Filer's total
    $224,345

  • GIL LACSON

    DIRECTOR, NETWORK ENGAGEMENT

    Total calculated
    $233,854
    From this org
    $181,215
    From related orgs
    $0
    Other
    $52,639
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $173,312
    Bonus
    $5,506
    Other
    $2,397
    Deferred
    $6,617
    Nontaxable benefits
    $46,022
    Filer's total
    $233,854

  • GILLES RENOUIL

    DIRECTOR, MICROINSURANCE

    Total calculated
    $228,634
    From this org
    $193,786
    From related orgs
    $0
    Other
    $34,848
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $190,966
    Bonus
    $2,820
    Other
    $0
    Deferred
    $18,417
    Nontaxable benefits
    $16,431
    Filer's total
    $228,634

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4a · Severance or change-of-control payment
  • 7 · Other non-fixed payments

Answered no

  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 4A
SEVERANCE PAYMENTS THE FOLLOWING INDIVIDUAL RECEIVED A SEVERANCE PAYMENT DURING 2022: KAREN MILLER: 85,690 PART I, LINE 7: BONUS PAYMENT THE CEO/PRESIDENT RECEIVED A NON-FIXED BONUS BASED ON PRE-DETERMINED PERFORMANCE OBJECTIVES. UPON THE PRESIDENT SATISFYING THESE OBJECTIVES, THE WWB COMPENSATION COMMITTEE RECOMMENDED A COMPENSATION BONUS. THE BOARD REVIEWED AND APPROVED THE RECOMMEND BONUS. THE COO/EVP/SECRETARY, EVP/HEAD OF CLIENT SERVICES, AND GLOBAL HEAD OF ADVOCACY RECEIVED NON-FIXED BONUSES BASED ON PERFORMANCE THAT WERE AUTHORIZED AND APPROVED BY THE PRESIDENT. THE VP OF WOMEN'S DIGITAL & FINANCIAL INCLUSION RECEIVED A REFERRAL BONUS THAT WAS AUTHORIZED BY HUMAN RESOURCES. DURING 2022, THE CEO/PRESIDENT AUTHORIZED TWO ROUNDS OF INFLATION BONUSES TO STAFF, SUBJECT TO CERTAIN QUALIFICATIONS. QUALIFICATIONS WERE DETERMINED BY THE COO/EVP AND GLOBAL HEAD OF HUMAN RESOURCES.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • WWB INVESTMENTS LLC

    EXCLUDED · INVESTMENT · DE · 70% owned · share of income -$6,869 · share of assets $983,604 · general or managing partner

    Directly controlled by WWB INC

  • WWB CAPITAL PARTNERS LP

    EXCLUDED · INVESTMENT · DE · 0.98% owned · share of income $5,287 · share of assets $213,394

    Directly controlled by WWB INVESTMENTS LLC

  • WWB CAPITAL PARTNERS II LP

    EXCLUDED · INVESTMENT · MP · 1.46% owned · share of income -$13,061 · share of assets $973,917

    Directly controlled by WWB INVESTMENTS II LLC

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • WWB INVESTMENTS II LLC

    C · INVESTMENT · MP · 100% owned · share of assets $450 · controlled entity

    Directly controlled by WWB INC

  • WWB MANAGEMENT SERVICES LLP

    C · INDIA OPERATIONS · IN · 99.98% owned · share of income $1,600,922 · share of assets $162,122 · controlled entity

    Directly controlled by WWB INC

  • WWB SOUTHEAST ASIA HOLDINGS PTE LTD

    C · SINGAPORE OPERATIONS · SN · 100% owned · share of income $344,315 · share of assets $95,870 · controlled entity

    Directly controlled by WWB INC

  • PT WWB SERVICES INDONESIA

    C · INDONESIA OPERATIONS · ID · 99.9% owned · share of income $406,933 · share of assets $736,818 · controlled entity

    Directly controlled by WWB INC

Provenance

Return type
form_990
Tax year
2022
Filed
25 October 2023
IRS schema version
2022v5.0
Source object
202342999349302224

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.