World Vets

Nonprofit profile at a glance

EIN
204637447
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Gig Harbor, WA, USA
Phone
8776888387
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Animal Protection and Welfare

Official website

Reported finances

Revenue
$1,675,148
Expenses
$1,199,055
Assets
$1,704,647
Liabilities
$13,404

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

6 people listed

Executive titles in this filing

  • Cathy King DVM PHD (CEO)

Highest reported compensation

  • Cathy King DVM PHD (CEO): $257,440 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To improve the health & well-being of animals through veterinary aid, response, training, research & local capacity building worldwide. We provide services to companion animals, horses, street dogs, livestock and marine animals including wildlife rescue and conservation on the Galapagos Islands and the Salish Sea in the Pacific Northwest.

What it reported doing in 2024

Helping animals, people and the places they call home. For nearly 25 years, World Vets has provided veterinary aid programs and support in over 50 countries on 6 continents benefiting hundreds of thousands of animals. Programs include spay/neuter, public health, street dog management through vaccination and sterilization, livestock programs, equine programs helping working horses and donkeys, disaster response, wildlife rescue and marine animal programs (including stranding response, rescue of sick, injured or stranded marine animals in the wild, research, protection & conservation). Each year we carry out numerous free sterilization campaigns for dogs and cats in various countries including a large-scale program in the Imbabura region of Ecuador where we have worked for over 16 years. World Vets operates a full-service, free of charge veterinary clinic for domestic animals in the Galapagos Islands and provides wildlife rescue services 24 hours a day, 7 days a week, 365 days a year on the Galapagos Islands. In 2024 World Vets built the first wildlife rescue hospital on San Cristobal Island, Galapagos which is used to care for and treat a variety of mostly endangered and other endemic species. In addition, we donated to the Galapagos National Park a 4-wheel drive rescue truck and a zodiac rescue boat as well as a large amount of veterinary equipment and supplies that are used in the wildlife rapid response program through World Vets. World Vets provides heath monitoring for wildlife including the annual health exams for Galapagos giant tortoises. We have a strong focus on local capacity building and empower local professional to promote local term sustainability. Through a largely volunteer workforce of highly skilled professionals along with a small, dedicated staff, World Vets can leverage resources for maximum impact and sustainability.

Operating model

Revenue model
Donor-supported. 80% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 86% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing reports few safeguards for money sent abroad and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 74
  • Transparency & Controls: 71
  • Accountability: 90
  • Sustainability: 65
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 64.3%; rating input score 64
  • Program expense ratio: 89.3%; rating input score 89
  • Fundraising efficiency: $51.78 raised per $1 spent on fundraising; rating input score 78; 78th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 16th percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • 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; 76th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 28.4%; rating input score 83; 83rd percentile among comparable filings
  • Total-asset coverage ratio: 1.42; rating input score 54; 54th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 71; 71st percentile among comparable filings
  • Officer compensation ratio: 21.5%; rating input score 13; 13th percentile among comparable filings

Growth

  • Program expense growth: -0.2% per year; rating input score 0; 17th percentile among comparable filings
  • Revenue growth: -1.4% per year; rating input score 0; 10th percentile among comparable filings
  • Asset growth: 5.3% per year; rating input score 100; 40th percentile among comparable filings

Details

  • Where the money goes: 64.3% of revenue deployed · 89.3% of spending went to programs
  • Governance: 5 of 5 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $1.1M in reported program spending
  • Leadership: top reported pay $257K · 6 people listed · 4 of 6 pay-setting controls reported
  • Consistency: 31 of 32 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes major donors, foreign activity, and executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

  • High — Transparency & Controls: Foreign activity oversight: 8 of 8 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Review — Sustainability: Total-asset coverage ratio scored 54/100.
  • High — Sustainability: Officer compensation ratio scored 13/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.