WORLD EDUCATION SERVICES INC

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1974

Legal Domicile

Principal Officer

ESTHER T BENJAMIN

Phone

2122197307

Tax Period

2023-01-01 to 2023-12-31

WORLD EDUCATION SERVICES INC, founded in 1974, is a mid-sized nonprofit in the International Affairs sector that reported $99.9M in total revenue in fiscal year 2023. Expenses of $91.5M left a modest 8% surplus.

Mission

WES IS A NON-PROFIT SOCIAL ENTERPRISE THAT SUPPORTS THE EDUCATIONAL, ECONOMIC & SOCIAL INCLUSION OF IMMIGRANTS, REFUGEES & INTERNATIONAL STUDENTS IN THE US AND CANADA. WES HAS EXPANDED ITS MISSION TO PURSUE AND SCALE SOCIAL IMPACT.

Program Service Accomplishments

Program 1

Expenses: $57,185,708 Revenue: $97,212,546

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.

Program 2

Expenses: $19,608,842

SOCIAL IMPACT (FORMERLY GLOBAL TALENT BRIDGE AND GRANTMAKING): SEE SCHEDULE O.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $97,212,546

Investment Income $2,631,978

Other Revenue $93,892

TOTAL REVENUE $99,938,416

Expense Breakdown

Grants Paid $7,540,795

Salaries & Benefits $52,201,121

Fundraising Expenses $0

Program Expenses $76,794,550

Other Expenses $31,750,781

TOTAL EXPENSES $91,492,697

Year-over-Year Comparison

	2023	2022	Change
Revenue	$99,938,416	$98,705,023	+0.0%
Expenses	$91,492,697	$85,612,582	+0.1%
Net Income	$8,445,719	$13,092,441	-0.4%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✓ Lobbying ✗ Political Activity ✓ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

283

Volunteers

N/A

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✓ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$3,414,707

Total Directors

Key Employees

$1,256,540

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
AUDREY HENDLEY	CHAIR	2.00	Officer Director	$0	$0	$0
SIDNEY R HARGO	VICE CHAIR	1.00	Officer Director	$0	$0	$0
HELEN HAYWARD	SECRETARY	1.00	Officer Director	$0	$0	$0
SAMUEL ARTMANN	TREASURER	1.00	Officer Director	$0	$0	$0
ANN BULLER	TRUSTEE	1.00	Director	$0	$0	$0
MISHA ESIPOV	TRUSTEE	1.00	Director	$0	$0	$0
CAROLINE GAYLE	TRUSTEE	1.00	Director	$0	$0	$0
FERIDUN HAMDULLAHPUR	TRUSTEE	1.00	Director	$0	$0	$0
JOANNA HARRIES	TRUSTEE	1.00	Director	$0	$0	$0
SHAKTI JAUHAR	TRUSTEE	1.00	Director	$0	$0	$0
DEWAYNE MATTHEWS	TRUSTEE	1.00	Director	$0	$0	$0
FRANCISCO MARMOLEJO	TRUSTEE	1.00	Director	$0	$0	$0
AARON WILLIAMS	TRUSTEE	1.00	Director	$0	$0	$0
JULIE REDDY	TRUSTEE	1.00	Director	$0	$0	$0
PAOLO VARIAS	TRUSTEE	1.00	Director	$0	$0	$0
ESTHER T BENJAMIN	CEO & EXECUTIVE DIRECTOR	40.00	Officer	$880,601	$41,490	$922,091
CHERYL TOTO	CHIEF OPERATIONS OFFICER	40.00	Officer	$477,302	$45,890	$523,192
JOHN VERMAATEN	CHIEF FINANCIAL OFFICER	40.00	Officer	$462,474	$51,957	$514,431
MONICA K MUNN	CHIEF SOCIAL IMPACT OFFICER	40.00	Officer	$380,709	$23,273	$403,982
SHAMIRA MADHANY	MANAGING DIRECTOR, WES CANADA	40.00	Officer	$352,003	$28,642	$380,645
MEGAN BLACKBURN	SIR. DIRECTOR, STRATEGY & PLANNING	40.00	Officer	$299,496	$40,212	$339,708
ABBIE J COWAN	CHIEF PEOPLE OFFICER	40.00	Officer	$291,590	$39,068	$330,658
BIREN SHAH	CHIEF TECHNOLOGY OFFICER	40.00	Key Emp	$385,008	$41,311	$426,319
HOLLY SANDERS	CHIEF TRANSFORMATION OFFICER	40.00	Key Emp	$380,808	$32,371	$413,179
PAUL FELTMAN	DEPUTY EXECUTIVE DIRECTOR, GTB	40.00	Key Emp	$373,498	$43,544	$417,042
NEGASH YUSUF	QUALITY ANALYST III	40.00	Highest	$387,485	$23,407	$410,892
YUKI INOUE	QUALITY ANALYST III	40.00	Highest	$384,162	$34,292	$418,454
ERNEST WURZBACH	SR. DIRECTOR OF TECHNOLOGY	40.00	Highest	$292,561	$28,527	$321,088
DAVID J GALLAGHER	QUALITY ANALYST III	40.00	Highest	$421,926	$51,957	$473,883
LOULADEY ASSEFA	QUALITY ANALYST III	40.00	Highest	$328,351	$25,485	$353,836

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$99,938,416	$91,492,697	$233,089,458	$8,445,719
2022	$98,705,023	$85,612,582	$205,422,025	$13,092,441
2021	$107,632,026	$71,193,891	$221,911,530	$36,438,135
2020	$104,133,998	$69,013,202	$182,177,798	$35,120,796
2019	$84,317,218	$65,247,515	$150,333,304	$19,069,703
2018	$74,012,478	$55,560,407	$107,477,210	$18,452,071