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Top Rated

Women for Women International

CharityWatch report issued
January 2022

Top-Rated Charity
CharityWatch Grade
Our independent grade based
on a number of factors.
Program Percentage
Amount spent on programs
relative to overhead.
Cost to Raise $100
Amount spent to raise
$100 of contributions.

Contact Information

Women for Women International
2000 M Street, NW
Suite 200
Washington, DC 20036

Other Names

Women for Women

Tax Status


Stated Mission

In countries affected by conflict & war, supports the most marginalized women to earn & save money, improve health & well-being, influence decisions in their home & community, and connect to networks for support.

View similar charities
Data based on Fiscal Year Ended 12/31/2020

Program Percentage: 76%

The percentage of Women for Women International's cash budget it spends on programs relative to overhead (fundraising, management, and general expenses).


Calculated Total Expenses



Cost to Raise $100: $18

How many dollars Women for Women International spends on fundraising to raise each $100 of contributions.


Calculated Total Contributions


Government Funding

0% to 24%

Percentage of cash revenue
coming from government sources


Financial Documents

Entity Document Type Tax ID
Women for Women International IRS Form 990 52-1838756
Women for Women International and Affiliates Consolidated Audited Financial Statements Multiple
Entity: Women for Women International
Document Type: IRS Form 990
Tax ID: 52-1838756
Entity: Women for Women International and Affiliates
Document Type: Consolidated Audited Financial Statements
Tax ID: Multiple

Governance & Transparency

CharityWatch evaluates certain criteria related to a charity's Governance and Transparency. Donors may want to consider a charity's willingness to be open and transparent with CharityWatch to be a good litmus test for determining its commitment to public accountability.
This charity is Top-Rated
What does it mean to be Top-Rated?
Women for Women International
meets governance benchmarks.
Women for Women International
meets transparency benchmarks.
Provides Financial Information
Audit Accessibility
Governance: Policies
Reports regularly & consistently monitoring & enforcing compliance with a written Conflict of Interest Policy
Reports required, annual disclosure by officers, directors, and key staff of interests that could give rise to conflicts
Reports having a written Whistleblower Policy
Reports having a written Document Retention and Destruction Policy
Governance: Financials
Reports providing copy of tax form to all board members prior to filing it with IRS
Reports that financial statements were audited by an independent accountant
Governance: Board of Directors
Reports at least 5 voting board members
51% or more of voting board members reported as independent
Reports documenting minutes of board and board committee meetings
Privacy Policy
Privacy Policy

  Name Title Compensation
1 Laurie Adams CEO $270,788
2 Michelle Guillermin Chief Administrative Officer $253,818
3 Marie Clarke VP, Global Programs $203,011
Name: Laurie Adams
Title: CEO
Compensation: $270,788
Name: Michelle Guillermin
Title: Chief Administrative Officer
Compensation: $253,818
Name: Marie Clarke
Title: VP, Global Programs
Compensation: $203,011

CharityWatch Analysts perform an in-depth analysis of charities' audited financial statements and IRS tax filings, and often review other documents such as state filings, annual reports, and fundraising contracts during their evaluations. Below are select notes that CharityWatch believes may be of interest to donors.

CharityWatch's rating of Women for Women International includes the financial activities of its U.S. public charity entity (tax ID #52-1838756), as well as the entities consolidated in the Women for Women International audited financial statements for the year ended December 31, 2020, which include: (1) Women for Women International United Kingdom (UK), (2) Women for Women International Germany (WFWI Germany), (3) Women for Women International, Afghanistan Microfinance (Afghanistan MCO), and (4) Women Opportunity Center Rwanda Limited (WFWI WOC).

According to the Women for Women International consolidated audit of December 31, 2020 (Note 1 re: Principles of Consolidation):

"The [audited] consolidated financial statements include the accounts of Women for Women US, Women for Women UK, WFWI Germany, Afghanistan MCO and WFWI WOC... These entities have been consolidated due to the presence of effective control and economic interest, as required under accounting principles generally accepted in the United States of America (GAAP). All intercompany balances and transactions have been eliminated in the [audit] consolidation."

According to the Women for Women International consolidated audit of December 31, 2020 (Note 8, Loans Payable):

"On April 16, 2020, the Women for Women entered into a Small Business Administration (SBA) loan with its financial institution under the Paycheck Protection Program (PPP) for the amount of $899,892. The loan will mature on April 16, 2022, with a fixed interest rate of 1% per annum. The loan amount may be eligible for forgiveness pursuant to the PPP, which established minimum amounts of the loan to be used to cover payroll costs and the remainder can be used for mortgage interest, rent and utility costs over a specified period of time after the loan is made; and the number of employees and compensation levels are maintained. Women for Women believes it meets these requirements for forgiveness and intends to apply for forgiveness. If the loan is forgiven, it shall be recognized in the [audited] consolidated financial statements. In the event the loan is not forgiven, consecutive monthly payments of $55,795 plus interest of 1% will commence one month after the earlier of the following dates; (1) the date the financial institution receives the applicable forgiveness amount from the SBA; or (2) the date that is 10 months after the end of the forgiveness covered period, through the maturity date."

According to the Women for Women International consolidated audit of December 31, 2020 (Note 11, Risks and Commitments, Foreign Operations):

"Women for Women has operations in several foreign countries. These foreign operations maintain cash accounts and property and equipment. In addition, the inventory and portions of the prepaid expenses, receivables and other assets are related to activities in these foreign countries. The future of these programs may be adversely affected by a number of potential factors, such as currency devaluations, terrorist activity or changes in the political climate. As of December 31, 2020, assets in these countries totaled approximately $6,653,756, representing approximately 27% of Women for Women's total consolidated assets."

According to the Women for Women International consolidated audit of December 31, 2020 (Note 11, Risks and Commitments, Risk and Uncertainty):

"In March 2020, the World Health Organization declared the outbreak of a novel coronavirus (COVID-19) as a pandemic which continues to spread throughout the United States and the world. Women for Women is monitoring the outbreak of COVID-19 and the related business and travel restrictions and changes to behavior intended to reduce its spread, as well as its impact on members and conferences, in addition to the impact on its employees. Due to the rapid development and fluidity of this situation, the magnitude and duration of the pandemic and its impact on the Women for Women's operations and liquidity is uncertain as of the date of this report [July 9, 2021]. Women for Women has been able to continue its operations in a remote environment and adopt programs to meet or exceed COVID-19 protocols. At this point, the extent to which COVID-19 may impact Women for Women's future financial condition or results of operation is uncertain."

According to the Women for Women International 2020 tax filing, Women for Women reports re: Compensation, Supplemental Information (IRS Form 990, Schedule J, Part III):

Regarding nonfixed payments to officers, directors, trustees, key employees and highest compensated employees (Schedule J, Part I, Line 7):

"Michelle Guillermin, Chief Administrative Officer, received a bonus based on her performance during the year ended December 31, 2020."

Women for Women reports "Bonus & incentive compensation" payments to seven individuals in 2020, including $20,200 paid to Michelle Guillermin, Chief Administrative Officer, whose reported total compensation in 2020 is $253,818. The other six individuals received "Bonus & incentive compensation" payments ranging from $870 to $80, with associated reported total compensation ranging from $270,788 to $154,440 (IRS Form 990, Schedule J, Part II).

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