World Association for Cooperative Education Inc

Nonprofit profile at a glance

EIN
043279172
IRS 990 coverage
2019–2020
Forms available
Form 990 2020
Location
Waterloo, Ontario, CA
Phone
7818560795
Rating
47
Verdict
MIXED
Rating confidence
Moderate
Sector
Professional Societies, Associations

Official website

Reported finances

Revenue
$39,633
Expenses
$24,647
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2020. Amounts in USD.

Leadership & pay

13 people listed

People named in this filing

  • DR SAMPAN SILAPANAD (CO-CHAIR)
  • DR DITMAR HILPERT (DIRECTOR)
  • DR MAURITS VAN ROOIJEN (CO-CHAIR)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2020. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To globally advance high quality cooperative and all other forms of work-integrated education by facilitating global debate, showcasing best practices, and fostering international networks & exchanges.

What it reported doing in 2020

Wace offers research, programs and services with the aim to (1) advance professionalization through innovation in experiential learning, academic quality enhancement, and demonstrating results through relevant and focused research; and (2) advance and promote the recognition of importance of high quality cooperative and work-integrated education as the best workforce development scheme for today's global society.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 25
  • Transparency & Controls: 72
  • Accountability: 64
  • Sustainability: 47
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 22.7%; rating input score 23
  • Program expense ratio: 36.5%; rating input score 37
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: 0 of 8 controls in place; rating input score 0
    • Claims monitoring procedures: Fail
    • Requires narrative reports: Fail
    • Conducts field audits: Fail
    • May suspend future funding: Fail
    • Requires financial reports: Fail
    • Conducts site visits: Fail
    • Requires grant agreements: Fail
    • May require repayment: Fail
  • Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 1 of 7 controls in place; rating input score 14
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 37.8%; rating input score 83; 83rd percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 61; 61st percentile among comparable filings

Growth

  • Program expense growth: -186% per year; rating input score 0; 1st percentile among comparable filings
  • Revenue growth: -144.3% per year; rating input score 0; 2nd percentile among comparable filings
  • Asset growth: -200% per year; rating input score 0; 0th percentile among comparable filings

Details

  • Where the money goes: 22.7% of revenue deployed · 36.5% of spending went to programs
  • Governance: 13 of 13 board members independent · 1 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $9K in reported program spending
  • Leadership: top reported pay $0 · 13 people listed
  • Consistency: 17 of 17 current checks pass
  • Schedules: 4 filed schedules · includes foreign activity
  • Filing history: 2 filing years from 2019 to 2020
  • Contacts: How to reach this organization
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Mission deployment rate scored 23/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 37/100.
  • High — Transparency & Controls: Foreign activity oversight: 8 of 8 not reported.
  • High — Accountability: Governance controls: 5 of 6 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • High — Growth: Asset growth scored 0/100.