Women for Women International

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).