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Nonprofiteer
← WORLDSCALE ASSOC NYC INC

Form 990 for tax year 2024

Filed by WORLDSCALE ASSOC NYC INC.

Totals

Total revenue
$1,675,422
Total expenses
$1,807,952
Contributions and grants received
$0
Grants paid
$33,750
Program service revenue
$1,557,020
Investment income
$118,002
Other revenue
$400
Total assets, end of year
$3,858,278
Total liabilities, end of year
$1,826,358
Net assets or fund balances, end of year
$2,031,920
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

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: SUBSCRIPTIONS

    total $1,557,020 · related or exempt $1,557,020

  • 3 · Investment income

    total $91,592 · excluded $91,592

  • 7a · Gross sales of assets other than inventory

    securities $1,260,349

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

    securities $1,233,939

  • 7c · Gain or loss

    securities $26,410

  • 7d · Net gain or loss

    total $26,410 · excluded $26,410

  • 11a · Other revenue: OTHER

    total $400 · related or exempt $400

  • 11e · Other revenue, total

    $400

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $33,750

  • 5 · Compensation of officers, directors and key employees

    total $404,908

  • 7 · Other salaries and wages

    total $478,793

  • 8 · Pension plan contributions

    total $74,200

  • 9 · Other employee benefits

    total $210,859

  • 10 · Payroll taxes

    total $62,667

  • 11b · Fees: legal

    total $5,660

  • 11c · Fees: accounting

    total $22,229

  • 11f · Fees: investment management

    total $16,402

  • 11g · Fees: other

    total $7,865

  • 13 · Office expenses

    total $54,097

  • 16 · Occupancy

    total $93,470

  • 17 · Travel

    total $8,616

  • 19 · Conferences, conventions and meetings

    total $2,857

  • 22 · Depreciation, depletion and amortization

    total $6,667

  • 23 · Insurance

    total $55,601

  • 24a · Other expenses: PRODUCTION COSTS

    total $167,509

  • 24b · Other expenses: LICENSING FEES

    total $101,802

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $465,380 · end of year $460,700

  • 2 · Savings and temporary cash investments

    beginning of year $500,000 · end of year $300,871

  • 9 · Prepaid expenses and deferred charges

    beginning of year $29,304 · end of year $24,649

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

    $35,569

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

    $32,232

  • 10c · Land, buildings and equipment, net

    beginning of year $10,004 · end of year $3,337

  • 11 · Investments: publicly traded securities

    beginning of year $2,360,221 · end of year $2,628,589

  • 15 · Other assets

    beginning of year $513,540 · end of year $440,132

  • 17 · Accounts payable and accrued expenses

    beginning of year $116,470 · end of year $87,734

  • 19 · Deferred revenue

    beginning of year $1,138,065 · end of year $1,312,141

  • 25 · Other liabilities

    beginning of year $496,590 · end of year $426,483

  • 27 · Net assets without donor restrictions

    beginning of year $2,127,324 · end of year $2,031,920

Mission and programs · 2024

Mission

THE MISSION OF THE ORGANIZATION IS TO ANALYZE SHIPPING COSTS AND UPLOAD ITS FINDINGS FOR SUBSCRIBING MEMBERS OF THE SHIPPING INDUSTRY.

Activities or mission (Part I)

TO ANALYZE SHIPPING COSTS AND PUBLISH ITS FINDINGS FOR SUBSCRIBING MEMBERS.

  • 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.

As filed on the 2024 return.

Listed in Part VII

  • Basil G Mavroleon

    CHAIRMAN/PRESIDENT

    Total calculated
    $5,000
    From this org
    $5,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.5

  • Bruce Sullivan

    VICE CHAIRMAN/VICE-PRESIDENT

    Total calculated
    $5,000
    From this org
    $5,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.75

  • Christoper C Young

    TREASURER

    Total calculated
    $5,000
    From this org
    $5,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.5

  • Peter Howard-Johnson Jr

    SECRETARY

    Total calculated
    $5,000
    From this org
    $5,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.5

  • Clare Schmidt

    DIRECTOR

    Total calculated
    $5,000
    From this org
    $5,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.25

  • John Stichter

    DIRECTOR

    Total calculated
    $5,000
    From this org
    $5,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.25

  • Neil Mulhern

    DIRECTOR

    Total calculated
    $5,000
    From this org
    $5,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.25

  • Thomas Cumming

    EXECUTIVE DIRECTOR

    Total calculated
    $302,508
    From this org
    $232,104
    From related orgs
    $0
    Other
    $70,404
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $177,104
    Bonus
    $55,000
    Other
    $0
    Deferred
    $18,000
    Nontaxable benefits
    $52,404
    Filer's total
    $302,508

  • Elenor McGorty

    OPERATIONS DIRECTOR

    Total calculated
    $216,477
    From this org
    $152,103
    From related orgs
    $0
    Other
    $64,374
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $117,103
    Bonus
    $35,000
    Other
    $0
    Deferred
    $12,000
    Nontaxable benefits
    $52,374
    Filer's total
    $216,477

  • Famatta Freeman

    MANAGER OF RATES & SYSTEMS

    Total calculated
    $143,978
    From this org
    $114,946
    From related orgs
    $0
    Other
    $29,032
    Hours/week
    40

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 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

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

Provenance

Return type
form_990
Tax year
2024
Filed
25 April 2025
IRS schema version
2024v5.1
Source object
202541159349301724

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