World Education Services Inc
- Assets
- $233.1m
- Revenue
- $99.9m
- Investments
- $158.9m
- Employees
- 283
- Location
- New York, NY
- Founding
- 06/1981
- Data as of
- 12/2023
- 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 12/2023, World Education Services Inc employed 283 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 12/2023, World Education Services Inc generated $99.9m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 10.2% each year . All expenses for the organization totaled $91.5m during the year ending 12/2023. While expenses have increased by 12.3% per year over the past 9 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 173 individual grants totaling $18,729,697. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
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:
Part 3 - Line 4a
CREDENTIAL EVALUATION PRODUCTION:AS A LEADER IN GLOBAL EDUCATION FOR NEARLY 50 YEARS, WES HAS SET THE STANDARD FOR INTERNATIONAL ACADEMIC CREDENTIAL EVALUATION, SUPPORTING MILLIONS OF PEOPLE AS THEY SEEK TO ACHIEVE THEIR ACADEMIC AND PROFESSIONAL GOALS. WES EVALUATES ACADEMIC CREDENTIALS FROM MORE THAN 48,000 INSTITUTIONS IN 203 COUNTRIES AND TERRITORIES AROUND THE WORLD. THE INDUSTRY-STANDARD REPORTS ARE RECOGNIZED BY OVER 4,500 ACADEMIC INSTITUTIONS, LICENSING BODIES, AND EMPLOYERS THROUGHOUT THE U.S. AND CANADA. IN 2023, WES EVALUATED CREDENTIAL EVALUATIONS FOR: IMMIGRATION (57%), EDUCATION (29%), EMPLOYMENT (6%), PROFESSIONAL LICENSING (7%), AND OTHER (1%). IN 2023, WES ISSUED 474,000, CREDENTIAL EVALUATIONS FOR APPLICANTS, BASED ON 478,000 CREDENTIALS.
SOCIAL IMPACT (FORMERLY GLOBAL TALENT BRIDGE AND GRANTMAKING): SEE SCHEDULE O.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Audrey Hendley Chair | OfficerTrustee | 2 | $0 |
Sidney R Hargo Vice Chair | OfficerTrustee | 1 | $0 |
Helen Hayward Secretary | OfficerTrustee | 1 | $0 |
Samuel Artmann Treasurer | OfficerTrustee | 1 | $0 |
Ann Buller Trustee | Trustee | 1 | $0 |
Misha Esipov Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
American Customer Care Inc Outsource Call Centr | 12/30/23 | $2,733,790 |
Alvarez & Marsal Holdings Llc Project Management | 12/30/23 | $1,684,836 |
Ida Apex Llc Business Consultant | 12/30/23 | $376,400 |
Think Systems Inc Business Consultant | 12/30/23 | $1,254,971 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| 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 | $0 |
| Total Program Service Revenue | $97,212,546 |
| Investment income | $2,056,141 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $575,837 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $99,938,416 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $4,985,513 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $2,555,282 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $4,497,477 |
| Compensation of current officers, directors, key employees. | $2,287,713 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $38,530,736 |
| Pension plan accruals and contributions | $2,532,118 |
| Other employee benefits | $3,606,432 |
| Payroll taxes | $3,034,358 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $796,274 |
| Fees for services: Accounting | $174,856 |
| Fees for services: Lobbying | $28,547 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $43,744 |
| Fees for services: Other | $9,187,744 |
| Advertising and promotion | $1,573,292 |
| Office expenses | $205,965 |
| Information technology | $2,670,980 |
| Royalties | $0 |
| Occupancy | $1,729,062 |
| Travel | $2,146,846 |
| 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 | $390,237 |
| Insurance | $106,565 |
| All other expenses | $595,789 |
| Total functional expenses | $91,492,697 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,061,833 |
| Savings and temporary cash investments | $26,632,732 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $492,242 |
| 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 | $1,426,689 |
| Net Land, buildings, and equipment | $181,126 |
| Investments—publicly traded securities | $37,948,671 |
| Investments—other securities | $158,934,062 |
| Investments—program-related | $1,754,793 |
| Intangible assets | $0 |
| Other assets | $2,657,310 |
| Total assets | $233,089,458 |
| Accounts payable and accrued expenses | $12,102,639 |
| Grants payable | $3,089,818 |
| Deferred revenue | $15,063,808 |
| 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 | $1,719,621 |
| Total liabilities | $31,975,886 |
| Net assets without donor restrictions | $201,113,572 |
| Net assets with donor restrictions | $0 |
| 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 | $233,089,458 |
Grants Awarded
Over the last fiscal year, World Education Services Inc has awarded $4,667,888 in support to 51 organizations.
| Grant Recipient | Amount |
|---|---|
ACTION RESEARCH COLLABORATIVE INC(DRIVER'S COOP) PURPOSE: GENERAL OPERATING SUPPOT | $120,000 |
AFRICAN BRIDGE NETWORK INC PURPOSE: GENERAL OPERATING SUPPOT | $180,000 |
AFRIKANA PURPOSE: CAPACITY STRENGTHENING INITIATIVE | $20,000 |
ARTISTS ATHLETES ACTIVISTS PURPOSE: CAPACITY STRENGTHENING INITIATIVE | $20,000 |
ASIAN COMMUNITY & CULTURAL CENTER PURPOSE: GRANT FOR PARTICIPATION IN SIIP PROGRAM | $100,000 |
ASIAN IMMIGRANT WOMEN ADVOCATES INC PURPOSE: DONATION FOR FUND AMBASSDOR PROGRAM | $10,000 |