World Trade Centers Association Inc

“Mehran eftekhar, director, has a business relationship with ghazi abu nahl, director.”

“The association has three classes of membership: regular members: membership as a regular member in the association is open only to those legally constituted bodies, public or private, including agencies, authorities, boards, commissions, corporations, departments, divisions, governments, or governmental bodies of any type or character, whether international, national, regional, state or municipal, and any other organization of whatever type, kind or description, involved in operating, developing or planning a world trade center, designed for the centralized accommodation of activities devoted to world trade. Affiliate members: membership as an affiliate is open to organizations which do not want to establish a world trade center but which provide certain trade center-related facilities or services or represent membership organizations of international business people which complement the activities of the association. Such organizations include government trade offices, exhibit facilities, international trade clubs, economic development organizations, chambers of commerce and similar membership organizations. Satellite members: the license fee for satellite members of the association was $200,000 for 2024 & 2023. Aside from the fee, the satellite memberships vary to regular memberships in that they do not have voting rights and they require sponsorship and a formal legal relationship with an active regular member.”

“Wtca's regular members have the power to elect members of the governing body. (affiliate members do not have such rights.) notices are sent to the wtca's regular members for board elections. Ballots are cast via a secure internet site, facsimile or e-mail to the designated election monitor and in person at the global business forum. Balloting closes promptly at 5pm on the close of the election period and no ballots will be accepted after that time. The ballots are cast; no ballots are double counted if they are submitted twice. Based on the counts the new board members are elected by geographic regions with the most votes and then winners are confirmed. Voting records are maintained in confidence.”

“In addition to having the authority to elect the members of the governing body, regular members may vote on any other matter that the board of directors designates in advance of the global business forum and have authority to alter or amend the certificate of incorporation and bylaws.”

“The form 990 review is performed by the audit & risk committee of the board and wtca's finance department with comparison to the audited financial statements and schedules provided to the tax preparer. The final form 990 is distributed to all board members for their review prior to filing with the internal revenue service.”

“The organization regularly and consistently monitors and enforces compliance with its conflict of interest policy by requiring all officers, directors and key employees to annually re-affirm the policy by signing a conflict of interest disclosure form, which includes an updated list of all vendors with which wtca or any wtca affiliate transacts business. Based on the submitted disclosure forms, the board secretary compiles a master chart of every entity with which each officer, director and key employee (or their immediate relatives) has a financial interest, and provides that chart to the audit & risk committee for review. Copies of the disclosure forms are kept by the board secretary. Any officer, director or key employee is recused from participating in any matter that presents a potential related party transaction.”

“The nomination and compensation committee recommends all compensation to the independent board of directors for approval. During the budgeting process, there is a detailed review of compensation and fringe benefits for the executive director-member services, executive director-business development, and general counsel, as well as other employees and new hires. The method used compares benchmarks, surveys and analysis of other nonprofit associations with similar business operations in the new york city area. The board of directors approves all compensation and decisions are documented in the minutes of the board meeting. The process was last conducted in 2024. Compensation benchmarking for key employees is conducted annually by the board secretary and general counsel using economic research institute (eri) data. Eri compiles and publishes compensation studies and data from similarly situated companied in the nyc area, that are not for profit, with similar sales figures. The salaries for key positions in the association is compared to these figures and provided to the wtca board nominations & compensation committee to evaluate whether any compensation adjustments should be made. If the committee approves an adjustment in compensation for any key employee, it is noted in the executive session minutes and communicated by the board secretary to the financial controller and finance coordinator.”

“The organization's governing documents, conflict of interest policy, and financial statements are available to the public upon request.”

“Wtca open investor day - in a unique setting, we will welcome a broader audience of decision makers from public and private sector in germany interested in joining our unique global community to showcase the wtca brand proposition. This was an addition to the europe regional meeting.”

“The organization has a committee that assumes responsibility for oversight of the audit of its financial statements and selection of an independent accountant. The process has not changed from the prior year.”