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Nonprofiteer
← WOMENS WORLD BANKING INC

Form 990 for tax year 2023

Filed by WOMENS WORLD BANKING INC.

Totals

Total revenue
$23,644,561
Total expenses
$20,335,915
Contributions and grants received
$20,160,038
Grants paid
$194,441
Program service revenue
$2,801,869
Investment income
$661,590
Other revenue
$21,064
Total assets, end of year
$44,684,590
Total liabilities, end of year
$4,541,786
Net assets or fund balances, end of year
$40,142,804
Program services expenses (Part IX)
$15,930,088
Management and general expenses
$1,621,856
Fundraising expenses
$2,783,971
Program service expenses (Part III)
$15,930,088

Program services were 78.3% 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)

    $6,391,623

  • 1f · All other contributions, gifts and grants

    $13,768,415

  • 2a · Program service revenue: FEES FOR SERVICE

    total $2,551,417 · related or exempt $2,551,417

  • 2b · Program service revenue: WORKSHOP FEES

    total $125,610 · related or exempt $125,610

  • 2c · Program service revenue: MEMBERSHIP DUES

    total $88,821 · related or exempt $88,821

  • 2d · Program service revenue: TICKET SALES

    total $36,021 · related or exempt $36,021

  • 3 · Investment income

    total $563,163 · excluded $563,163

  • 7a · Gross sales of assets other than inventory

    securities $12,941,050

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

    securities $12,842,623

  • 7c · Gain or loss

    securities $98,427

  • 7d · Net gain or loss

    total $98,427 · excluded $98,427

  • 11a · Other revenue: OTHER REVENUE

    total $21,064 · related or exempt $21,064

  • 11e · Other revenue, total

    $21,064

Functional expenses

Part IX, the statement of functional expenses.

  • 3 · Grants to foreign organizations and individuals

    total $194,441 · program services $194,441

  • 5 · Compensation of officers, directors and key employees

    total $3,148,150 · program services $1,907,640 · management and general $418,614 · fundraising $821,896

  • 7 · Other salaries and wages

    total $7,885,539 · program services $6,415,336 · management and general $555,227 · fundraising $914,976

  • 8 · Pension plan contributions

    total $314,782 · program services $255,912 · management and general $22,521 · fundraising $36,349

  • 9 · Other employee benefits

    total $1,059,782 · program services $816,724 · management and general $90,700 · fundraising $152,358

  • 10 · Payroll taxes

    total $682,577 · program services $511,867 · management and general $61,598 · fundraising $109,112

  • 11b · Fees: legal

    total $61,025 · program services $49,969 · management and general $11,056

  • 11c · Fees: accounting

    total $205,385 · program services $95,385 · management and general $102,500 · fundraising $7,500

  • 11e · Fees: professional fundraising services

    total $197,138 · fundraising $197,138

  • 11f · Fees: investment management

    total $88,201 · management and general $88,201

  • 11g · Fees: other

    total $3,521,311 · program services $3,311,772 · management and general $64,261 · fundraising $145,278

  • 13 · Office expenses

    total $242,774 · program services $148,021 · management and general $8,593 · fundraising $86,160

  • 16 · Occupancy

    total $494,664 · program services $353,065 · management and general $51,094 · fundraising $90,505

  • 17 · Travel

    total $1,101,265 · program services $1,002,808 · management and general $21,426 · fundraising $77,031

  • 19 · Conferences, conventions and meetings

    total $335,888 · program services $317,566 · management and general $5,916 · fundraising $12,406

  • 22 · Depreciation, depletion and amortization

    total $106,428 · program services $76,921 · management and general $10,647 · fundraising $18,860

  • 23 · Insurance

    total $97,040 · program services $73,243 · management and general $8,587 · fundraising $15,210

  • 24a · Other expenses: LICENSES, DUES AND FEES

    total $535,552 · program services $399,418 · management and general $36,942 · fundraising $99,192

  • 24b · Other expenses: INCOME TAXES

    total $63,973 · management and general $63,973

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $16,132,457 · end of year $1,996,879

  • 2 · Savings and temporary cash investments

    beginning of year $337,949 · end of year $18,417,497

  • 3 · Pledges and grants receivable

    beginning of year $280,251 · end of year $389,107

  • 4 · Accounts receivable

    beginning of year $341,029 · end of year $136,075

  • 9 · Prepaid expenses and deferred charges

    beginning of year $487,483 · end of year $441,097

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

    $1,235,008

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

    $1,028,730

  • 10c · Land, buildings and equipment, net

    beginning of year $281,652 · end of year $206,278

  • 11 · Investments: publicly traded securities

    beginning of year $17,055,495 · end of year $18,678,497

  • 12 · Investments: other securities

    beginning of year $1,244,741 · end of year $1,606,385

  • 15 · Other assets

    beginning of year $3,277,357 · end of year $2,812,775

  • 17 · Accounts payable and accrued expenses

    beginning of year $790,108 · end of year $901,337

  • 19 · Deferred revenue

    beginning of year $128,070 · end of year $102,289

  • 25 · Other liabilities

    beginning of year $4,014,996 · end of year $3,538,160

  • 27 · Net assets without donor restrictions

    beginning of year $9,976,599 · end of year $9,771,142

  • 28 · Net assets with donor restrictions

    beginning of year $24,528,641 · end of year $30,371,662

Mission and programs · 2023

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 $13,644,913 · Grants $194,441 · Revenue $610,699

  • 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 $2,285,175 · Revenue $2,212,234

As filed on the 2023 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

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Rupal Patil

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Seema Hingorani

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Zouera Youssoufou

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Dune Thorne

    DIRECTOR (AS OF 10/20/23)

    Total calculated
    $0
    Hours/week
    5

  • Atalanti Moquette

    DIRECTOR (AS OF 12/13/23)

    Total calculated
    $0
    Hours/week
    5

  • Carlos Hornillos-Dalisme

    CFAO AND TREASURER (TILL 3/15/23)

    Total calculated
    $75,497
    From this org
    $60,544
    From related orgs
    $0
    Other
    $14,953
    Hours/week
    40

  • Mary Ellen Iskenderian

    PRESIDENT AND CEO

    Total calculated
    $529,149
    From this org
    $510,976
    From related orgs
    $0
    Other
    $18,173
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $493,402
    Bonus
    $15,000
    Other
    $2,574
    Deferred
    $16,500
    Nontaxable benefits
    $1,673
    Filer's total
    $529,149

  • J Thomas Jones

    COO, EVP AND SECRETARY

    Total calculated
    $479,064
    From this org
    $415,365
    From related orgs
    $0
    Other
    $63,699
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $414,780
    Bonus
    $0
    Other
    $585
    Deferred
    $16,500
    Nontaxable benefits
    $47,199
    Filer's total
    $479,064

  • Christina Juhasz

    CHIEF INVESTMENT OFFICER, WAM

    Total calculated
    $341,183
    From this org
    $280,103
    From related orgs
    $0
    Other
    $61,080
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $278,429
    Bonus
    $0
    Other
    $1,674
    Deferred
    $14,163
    Nontaxable benefits
    $46,917
    Filer's total
    $341,183

  • Stephanie Welty

    CFO (AS OF 7/10/23)

    Total calculated
    $95,330
    From this org
    $90,705
    From related orgs
    $0
    Other
    $4,625
    Hours/week
    30

  • Kalpana Ajayan

    REGIONAL HEAD, SOUTH ASIA

    Total calculated
    $201,938
    From this org
    $193,418
    From related orgs
    $0
    Other
    $8,520
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $189,918
    Bonus
    $3,500
    Other
    $0
    Deferred
    $7,597
    Nontaxable benefits
    $923
    Filer's total
    $201,938

  • Ade Ashaye

    REGIONAL HEAD, AFRICA

    Total calculated
    $230,323
    From this org
    $204,532
    From related orgs
    $0
    Other
    $25,791
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $204,532
    Bonus
    $0
    Other
    $0
    Deferred
    $10,227
    Nontaxable benefits
    $15,564
    Filer's total
    $230,323

  • Taharah Isa

    GLOBAL HEAD, HUMAN RESOURCES

    Total calculated
    $253,261
    From this org
    $224,434
    From related orgs
    $0
    Other
    $28,827
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $223,537
    Bonus
    $0
    Other
    $897
    Deferred
    $11,411
    Nontaxable benefits
    $17,416
    Filer's total
    $253,261

  • Christina Maynes

    REGIONAL HEAD,SOUTHEAST ASIA

    Total calculated
    $236,747
    From this org
    $220,550
    From related orgs
    $0
    Other
    $16,197
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $220,550
    Bonus
    $0
    Other
    $0
    Deferred
    $8,163
    Nontaxable benefits
    $8,034
    Filer's total
    $236,747

  • Harsha Rodrigues

    EVP, HEAD OF CLIENT SERVICES

    Total calculated
    $323,071
    From this org
    $262,331
    From related orgs
    $0
    Other
    $60,740
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $261,434
    Bonus
    $0
    Other
    $897
    Deferred
    $13,338
    Nontaxable benefits
    $47,402
    Filer's total
    $323,071

  • Leslie Wetzel

    CHIEF DEVELOPMENT OFFICER

    Total calculated
    $346,240
    From this org
    $303,407
    From related orgs
    $0
    Other
    $42,833
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $302,510
    Bonus
    $0
    Other
    $897
    Deferred
    $15,265
    Nontaxable benefits
    $27,568
    Filer's total
    $346,240

  • Elisabeth Ballreich

    PRINCIPAL INVESTMENT OFFICER, WAM

    Total calculated
    $232,572
    From this org
    $203,358
    From related orgs
    $0
    Other
    $29,214
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $202,974
    Bonus
    $0
    Other
    $384
    Deferred
    $10,300
    Nontaxable benefits
    $18,914
    Filer's total
    $232,572

  • Marina Dimova

    DIRECTOR, NETWORK ENAGEMENT AND FINANCIAL INDUSTRY

    Total calculated
    $243,454
    From this org
    $194,033
    From related orgs
    $0
    Other
    $49,421
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $193,708
    Bonus
    $0
    Other
    $325
    Deferred
    $9,886
    Nontaxable benefits
    $39,535
    Filer's total
    $243,454

  • Sonja Kelly

    DIRECTOR, RESEARCH AND ADVOCACY

    Total calculated
    $235,731
    From this org
    $179,238
    From related orgs
    $0
    Other
    $56,493
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $178,915
    Bonus
    $0
    Other
    $323
    Deferred
    $9,537
    Nontaxable benefits
    $46,956
    Filer's total
    $235,731

  • Gil Lacson

    DIRECTOR, NETWORK ENGAGEMENT

    Total calculated
    $240,781
    From this org
    $186,005
    From related orgs
    $0
    Other
    $54,776
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $181,178
    Bonus
    $0
    Other
    $4,827
    Deferred
    $6,617
    Nontaxable benefits
    $48,159
    Filer's total
    $240,781

  • Gilles Renouil

    DIRECTOR, MICROINSURANCE

    Total calculated
    $302,699
    From this org
    $265,073
    From related orgs
    $0
    Other
    $37,626
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $211,769
    Bonus
    $0
    Other
    $53,304
    Deferred
    $19,908
    Nontaxable benefits
    $17,718
    Filer's total
    $302,699

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 2023: GILLES RENOUIL: 53,304 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 REGIONAL HEAD, SOUTH ASIA RECEIVED A NON-FIXED BONUS BASED ON PERFORMANCE THAT WAS AUTHORIZED AND APPROVED BY THE PRESIDENT.

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.

  • WWB ASSET MANAGEMENT LLC

    INVESTMENT · NY · income $2,212,234 · assets $1,387,440

    Directly controlled by WWB INC

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 -$5,529 · share of assets $933,489 · general or managing partner

    Directly controlled by WWB INC

  • WWB CAPITAL PARTNERS LP

    EXCLUDED · INVESTMENT · DE · 6.3% owned · share of income $3,411 · share of assets $223,649

    Directly controlled by WWB INVESTMENTS LLC

  • WWB CAPITAL PARTNERS II LP

    EXCLUDED · INVESTMENT · MP · 1.46% owned · share of income -$62,336 · share of assets $1,071,258

    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 $3,224 · controlled entity

    Directly controlled by WWB INC

  • WWB MANAGEMENT SERVICES LLP

    C · INDIA OPERATIONS · IN · 99.98% owned · share of income $2,123,248 · share of assets $189,349 · controlled entity

    Directly controlled by WWB INC

  • WWB SOUTHEAST ASIA HOLDINGS PTE LTD

    C · SINGAPORE OPERATIONS · SN · 100% owned · share of income $412,069 · share of assets $101,648 · 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 $529,557 · controlled entity

    Directly controlled by WWB INC

Provenance

Return type
form_990
Tax year
2023
Filed
22 October 2024
IRS schema version
2023v5.1
Source object
202443029349300754

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