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Nonprofiteer
← WORLD EDUCATION SERVICES INC

Form 990 for tax year 2022

Filed by WORLD EDUCATION SERVICES INC.

Totals

Total revenue
$98,705,023
Total expenses
$85,612,582
Contributions and grants received
$0
Grants paid
$10,935,240
Program service revenue
$97,997,750
Investment income
$659,199
Other revenue
$48,074
Total assets, end of year
$205,422,025
Total liabilities, end of year
$31,021,391
Net assets or fund balances, end of year
$174,400,634
Program services expenses (Part IX)
$72,022,811
Management and general expenses
$13,589,771
Fundraising expenses
$0
Program service expenses (Part III)
$72,022,811

Program services were 84.1% 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.

  • 2a · Program service revenue: CREDENTIAL EVALUATIONS

    total $97,997,750 · related or exempt $97,997,750

  • 3 · Investment income

    total $665,402 · excluded $665,402

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

    other assets $6,203

  • 7c · Gain or loss

    other assets -$6,203

  • 7d · Net gain or loss

    total -$6,203 · related or exempt -$6,203

  • 11a · Other revenue: OTHER INCOME

    total $48,074 · related or exempt $48,074

  • 11e · Other revenue, total

    $48,074

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $6,750,295 · program services $6,750,295

  • 3 · Grants to foreign organizations and individuals

    total $4,184,945 · program services $4,184,945

  • 5 · Compensation of officers, directors and key employees

    total $4,152,087 · program services $2,318,616 · management and general $1,833,471

  • 7 · Other salaries and wages

    total $33,873,503 · program services $27,033,376 · management and general $6,840,127

  • 8 · Pension plan contributions

    total $2,156,419 · program services $1,811,392 · management and general $345,027

  • 9 · Other employee benefits

    total $3,668,176 · program services $3,117,098 · management and general $551,078

  • 10 · Payroll taxes

    total $2,735,352 · program services $2,297,696 · management and general $437,656

  • 11b · Fees: legal

    total $373,168 · program services $53,945 · management and general $319,223

  • 11c · Fees: accounting

    total $154,651 · management and general $154,651

  • 11d · Fees: lobbying

    total $32,274 · program services $32,274

  • 11f · Fees: investment management

    total $2,423 · management and general $2,423

  • 11g · Fees: other

    total $8,318,564 · program services $7,906,271 · management and general $412,293

  • 12 · Advertising and promotion

    total $1,090,974 · program services $1,012,294 · management and general $78,680

  • 13 · Office expenses

    total $213,474 · program services $122,353 · management and general $91,121

  • 14 · Information technology

    total $2,153,253 · program services $1,786,497 · management and general $366,756

  • 16 · Occupancy

    total $1,639,725 · program services $1,377,369 · management and general $262,356

  • 17 · Travel

    total $1,160,165 · program services $571,423 · management and general $588,742

  • 22 · Depreciation, depletion and amortization

    total $790,430 · program services $542,277 · management and general $248,153

  • 23 · Insurance

    total $96,371 · management and general $96,371

  • 24a · Other expenses: RECRUITMENT&CALL CENTER

    total $3,849,296 · program services $3,477,617 · management and general $371,679

  • 24b · Other expenses: POSTAGE & PRINTING

    total $3,333,434 · program services $3,326,375 · management and general $7,059

  • 24c · Other expenses: CREDIT CARD & BANK FEES

    total $2,262,124 · program services $2,235,855 · management and general $26,269

  • 24d · Other expenses: REPAIRS & MAINTENANCE

    total $1,979,815 · program services $1,790,033 · management and general $189,782

  • 24e · All other expenses

    total $641,664 · program services $274,810 · management and general $366,854

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,408,995 · end of year $2,770,683

  • 2 · Savings and temporary cash investments

    beginning of year $42,246,259 · end of year $51,755,062

  • 3 · Pledges and grants receivable

    beginning of year $116,825

  • 4 · Accounts receivable

    beginning of year $67,063 · end of year $287,631

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,050,216 · end of year $1,268,057

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

    $3,808,185

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

    $3,352,104

  • 10c · Land, buildings and equipment, net

    beginning of year $778,015 · end of year $456,081

  • 11 · Investments: publicly traded securities

    beginning of year $8,459,149 · end of year $8,586,413

  • 12 · Investments: other securities

    beginning of year $164,983,618 · end of year $135,816,011

  • 13 · Investments: program-related

    beginning of year $1,250,000 · end of year $750,000

  • 15 · Other assets

    beginning of year $551,390 · end of year $3,732,087

  • 17 · Accounts payable and accrued expenses

    beginning of year $9,825,841 · end of year $11,289,377

  • 18 · Grants payable

    beginning of year $599,441 · end of year $3,439,144

  • 19 · Deferred revenue

    beginning of year $19,443,433 · end of year $12,807,935

  • 25 · Other liabilities

    beginning of year $394,918 · end of year $3,484,935

  • 27 · Net assets without donor restrictions

    beginning of year $191,531,072 · end of year $174,400,634

  • 28 · Net assets with donor restrictions

    beginning of year $116,825 · end of year $0

Mission and programs · 2022

Mission

WES HELPS PEOPLE LEARN, WORK, AND THRIVE IN NEW PLACES AND HELPS SOCIETY RECOGNIZE THE VALUE OF PEOPLE'S EDUCATION AND EXPERIENCE.

Activities or mission (Part I)

HELP PEOPLE THRIVE IN NEW PLACES AND HELP SOCIETY SEE THE VALUE OF PEOPLE'S EDUCATION & EXPERIENCE.

  • 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 2022, WES EVALUATED CREDENTIAL EVALUATIONS FOR: IMMIGRATION (62%), EDUCATION (28%), EMPLOYMENT (5%), AND PROFESSIONAL LICENSING (5%). IN 2021, WES EVALUATED CREDENTIAL EVALUATIONS FOR: IMMIGRATION (71%), EDUCATION (22%), EMPLOYMENT (3%), AND PROFESSIONAL LICENSING (4%).

    Expenses $53,022,745 · Revenue $97,997,750

  • 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.

    Expenses $5,448,302

  • 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.

    Expenses $13,551,764 · Grants $10,935,240

As filed on the 2022 return.

Listed in Part VII

  • Audrey Hendley

    CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Lynn Shotwell

    VICE CHAIR (THRU 3/2022)

    Total calculated
    $0
    Hours/week
    1

  • Helen Hayward

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Samuel Artmann

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Ann Buller

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Misha Esipov

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Caroline Gayle

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Sidney R Hargo

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Joanna Harries

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Shakti Jauhar

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Dewayne Matthews

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Feridun Hamdullahpur

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Maryana Iskander

    TRUSTEE (THRU 3/2022)

    Total calculated
    $0
    Hours/week
    1

  • Francisco Marmolejo

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Aaron Williams

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Esther T Benjamin

    CEO & EXECUTIVE DIRECTOR

    Total calculated
    $844,936
    From this org
    $806,772
    From related orgs
    $0
    Other
    $38,164
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $501,772
    Bonus
    $305,000
    Other
    $0
    Deferred
    $21,350
    Nontaxable benefits
    $16,814
    Filer's total
    $844,936

  • Cheryl Toto

    CHIEF OPERATIONS OFFICER

    Total calculated
    $494,116
    From this org
    $463,707
    From related orgs
    $0
    Other
    $30,409
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $333,707
    Bonus
    $130,000
    Other
    $0
    Deferred
    $21,350
    Nontaxable benefits
    $9,059
    Filer's total
    $494,116

  • John Vermaaten

    CHIEF FINANCIAL OFFICER

    Total calculated
    $460,199
    From this org
    $417,244
    From related orgs
    $0
    Other
    $42,955
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $322,244
    Bonus
    $95,000
    Other
    $0
    Deferred
    $21,350
    Nontaxable benefits
    $21,605
    Filer's total
    $460,199

  • Shamira Madhany

    MANAGING DIRECTOR, WES CANADA

    Total calculated
    $334,476
    From this org
    $308,763
    From related orgs
    $0
    Other
    $25,713
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $243,381
    Bonus
    $65,382
    Other
    $0
    Deferred
    $20,084
    Nontaxable benefits
    $5,629
    Filer's total
    $334,476

  • Abbie J Cowan

    CHIEF PEOPLE OFFICER (AS OF 12/2022)

    Total calculated
    $16,521
    From this org
    $16,040
    From related orgs
    $0
    Other
    $481
    Hours/week
    40

  • Biren Shah

    CHIEF TECHNOLOGY OFFICER

    Total calculated
    $404,194
    From this org
    $363,030
    From related orgs
    $0
    Other
    $41,164
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $273,030
    Bonus
    $90,000
    Other
    $0
    Deferred
    $21,350
    Nontaxable benefits
    $19,814
    Filer's total
    $404,194

  • Monica K Munn

    CHIEF SOCIAL IMPACT OFFICER

    Total calculated
    $379,924
    From this org
    $351,251
    From related orgs
    $0
    Other
    $28,673
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $263,751
    Bonus
    $87,500
    Other
    $0
    Deferred
    $21,350
    Nontaxable benefits
    $7,323
    Filer's total
    $379,924

  • Holly Sanders

    CHIEF TRANSFORMATION OFFICER

    Total calculated
    $379,758
    From this org
    $349,600
    From related orgs
    $0
    Other
    $30,158
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $259,600
    Bonus
    $90,000
    Other
    $0
    Deferred
    $21,350
    Nontaxable benefits
    $8,808
    Filer's total
    $379,758

  • Paul Feltman

    DEPUTY EXECUTIVE DIRECTOR, GTB

    Total calculated
    $381,637
    From this org
    $342,048
    From related orgs
    $0
    Other
    $39,589
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $287,048
    Bonus
    $55,000
    Other
    $0
    Deferred
    $21,350
    Nontaxable benefits
    $18,239
    Filer's total
    $381,637

  • Megan Blackburn

    SIR. DIRECTOR, STRATEGY & PLANNING, COS

    Total calculated
    $315,971
    From this org
    $279,264
    From related orgs
    $0
    Other
    $36,707
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $219,264
    Bonus
    $60,000
    Other
    $0
    Deferred
    $18,478
    Nontaxable benefits
    $18,229
    Filer's total
    $315,971

  • Negash Yusuf

    CXC EVALUATOR

    Total calculated
    $345,853
    From this org
    $331,755
    From related orgs
    $0
    Other
    $14,098
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $331,755
    Bonus
    $0
    Other
    $0
    Deferred
    $13,809
    Nontaxable benefits
    $289
    Filer's total
    $345,853

  • Yuki Inoue

    CXC EVALUATOR

    Total calculated
    $329,198
    From this org
    $298,360
    From related orgs
    $0
    Other
    $30,838
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $298,360
    Bonus
    $0
    Other
    $0
    Deferred
    $21,171
    Nontaxable benefits
    $9,667
    Filer's total
    $329,198

  • Ernest Wurzbach

    SR. DIRECTOR OF TECHNOLOGY

    Total calculated
    $285,828
    From this org
    $260,473
    From related orgs
    $0
    Other
    $25,355
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $215,473
    Bonus
    $45,000
    Other
    $0
    Deferred
    $8,009
    Nontaxable benefits
    $17,346
    Filer's total
    $285,828

  • Nejat Ahmed

    SR. DIRECTOR , CORPORATE CONTROLLER

    Total calculated
    $295,839
    From this org
    $259,820
    From related orgs
    $0
    Other
    $36,019
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $213,820
    Bonus
    $46,000
    Other
    $0
    Deferred
    $17,852
    Nontaxable benefits
    $18,167
    Filer's total
    $295,839

  • Louladey Assefa

    CXC EVALUATOR

    Total calculated
    $265,522
    From this org
    $245,877
    From related orgs
    $0
    Other
    $19,645
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $245,877
    Bonus
    $0
    Other
    $0
    Deferred
    $17,260
    Nontaxable benefits
    $2,385
    Filer's total
    $265,522

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

  • 1a · Travel for companions
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan
  • 7 · Other non-fixed payments

Answered no

  • 4a · Severance or change-of-control payment
  • 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 4B:
THE CEO & EXECUTIVE DIRECTOR, CHEIF OPERATIONS OFFICER, CHIEF TRANSFORMATION OFFICER, SENIOR DIRECTOR OF MARKETING & SALES, AND THE DEPUTY EXECUTIVE DIRECTOR - GTB PARTICIPATE IN THE 457(B) PLAN. THE PLAN WAS ESTABLISHED AND MAINTAINED FOR THE PURPOSE OF PROVIDING AN ADDITIONAL MEANS FOR DEFERRED COMPENSATION FOR SPECIFIED EMPLOYEES. THE PLAN CONSISTS OF ONLY EMPLOYEE CONTRIBUTIONS AND WES DOES NOT PROVIDE ANY CONTRIBUTIONS TO THE 457(B) PLAN.
PART I, LINE 7:
WES HAS A PERFORMANCE-BASED INCENTIVE PLAN WITH PAYMENT LEVELS SET AT YEAR-END BY THE BOARD.

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

The 10 largest by cash amount. The API serves every itemized grant.

Provenance

Return type
form_990
Tax year
2022
Filed
13 November 2023
IRS schema version
2022v5.0
Source object
202323179349309027

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