World Cocoa Foundation Inc
- Assets
- $8.4m
- Revenue
- $6.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Washington, DC
- Founding
- 08/1994
- Data as of
- 12/2023
- EIN
- 54-1715875
Organization Overview
World Cocoa Foundation Inc is located in Washington, DC. The organization was established in 1994. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. World Cocoa Foundation 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 Cocoa Foundation Inc generated $6.7m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.8%) each year. All expenses for the organization totaled $6.7m during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (6.3%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
WEST AFRICA: DEFORESTATION IS A MAJOR ISSUE IN COTE D'IVOIRE AND GHANA, WHICH TOGETHER PRODUCE NEARLY TWO-THIRDS OF THE WORLD'S COCOA SUPPLY. COTE D'IVOIRE AND GHANA, RESPECTIVELY, LOST 25% AND 8% OF THEIR PRIMARY FOREST BETWEEN 2002-2019, WITH A SIGNIFICANT PORTION OF DEFORESTATION DUE TO COCOA FARMING. AT THE NOVEMBER 2017 UN CLIMATE CHANGE CONFERENCE (COP23), THE GOVERNMENTS OF COTE D'IVOIRE AND GHANA AND LEADING CHOCOLATE AND COCOA COMPANIES SIGNED THE COCOA & FORESTS INITIATIVE FRAMEWORKS FOR ACTION. THE COCOA & FORESTS INITIATIVE (CFI) IS THE FIRST AND LARGEST PUBLIC-PRIVATE PARTNERSHIP SPANNING THE COCOA SECTOR. IT INCLUDES 36 WORLD COCOA FOUNDATION (WCF) MEMBER COMPANIES, WHICH ACCOUNT FOR 85% OF GLOBAL COCOA USE.(CONTINUED IN STATEMENT #17)
SOUTH AMERICA: "COCOAACTION BRASIL", A COLLABORATIVE INITIATIVE LAUNCHED BY LEADING MEMBERS OF BRAZIL'S CHOCOLATE AND COCOA SECTOR IN OCTOBER 2018, IS A TESTAMENT TO THE INDUSTRY'S COMMITMENT TO SUSTAINABILITY. THIS INITIATIVE AIMS TO ADDRESS A RANGE OF SUSTAINABILITY ISSUES IN THE COUNTRY'S COCOA SECTOR, INCLUDING INCREASING PRODUCTIVITY, IMPROVING THE QUALITY OF BRAZIL'S COCOA, CONTROLLING PESTS AND DISEASES, IMPROVING FARMERS' LIVING AND WORKING CONDITIONS, STRENGTHENING FARMERS ORGANIZATIONS, AND SUPPORTING SUSTAINABLE FOREST-POSITIVE COCOA PRODUCTION SYSTEMS. THE KEY TO ITS SUCCESS LIES IN ITS COLLABORATIVE APPROACH, WHICH FOSTERS SHARED LEARNING AND UNIFIED ACTION ACROSS THE SUPPLY CHAIN. (CONTINUED IN STATEMENT #18)
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chris Vincent CEO | 45 | $512,000 | |
Christine Mcgrath Wcf Chair | 2 | $0 | |
Tricia Brannigan Wcf Vice-Chair Treasurer | 2 | $0 | |
Tejinder Saraon Wcf Secretary | 2 | $0 | |
Kojo Amoo-Gottfried Wcf Vice-Chair | 2 | $0 | |
Steven Retzlaff Member | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Odgers Berndtson | 12/30/23 | $362,250 |
Hogan Lovells Us Llp | 12/30/23 | $249,579 |
P&a Ltda | 12/30/23 | $233,320 |
Synergy Partner Solutions Llc | 12/30/23 | $189,000 |
Satelligence | 12/30/23 | $93,591 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $3,745,890 |
| Interest on Savings | $294,297 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $3,737 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $2,696,466 |
| Total Revenue | $6,740,390 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $580,688 |
| Other employee salaries and wages | $1,418,510 |
| Pension plans, employee benefits | $330,361 |
| Interest | $0 |
| Taxes | $158,522 |
| Depreciation | $48,119 |
| Occupancy | $251,301 |
| Travel, conferences, and meetings | $490,595 |
| Printing and publications | $0 |
| Other expenses | $385,423 |
| Total operating and administrative expenses | $6,698,562 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $6,698,562 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $147,468 |
| Savings and temporary cash investments | $6,615,943 |
| Net Accounts receivable | $265,107 |
| Net Pledges Receivable | $0 |
| Grants receivable | $289,488 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $211,919 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $186,019 |
| Other assets | $660,859 |
| Total assets | $8,376,803 |
| Accounts payable and accrued expenses | $1,085,007 |
| Grants payable | $0 |
| Deferred revenue | $75,000 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $751,366 |
| Total liabilities | $1,911,373 |