CharityWatch's rating of World Resources Institute (WRI) also includes the financial activities of the WRI subsidiaries consolidated in the WRI audited financial statements for the fiscal year ended September 30, 2021. According to the WRI fiscal 2021 consolidated audit (Note A), these subsidiaries include: the World Resources Institute Fund, the World Resources Institute India, the WRI Europe Stichting, and Fundación WRI Colombia. All intercompany accounts and transactions have been eliminated in the audit consolidation.
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According to the World Resources Institute tax filing for the fiscal year ended September 30, 2021, the Institute reports for Business Transactions Involving Interested Persons a transaction in the amount of $67,309 involving David Levy, a family member of board member Joaquim Levy. The reported description for the transaction is: "Compensation – The executive committee of the board reviewed and relied upon an opinion from a third-party compensation expert that the compensation for Mr. Levy was reasonable. This decision was documented in the minutes of the committee" (IRS Form 990, Schedule L, Parts IV & V).
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According to the World Resources Institute consolidated audit of September 30, 2021 (Note A re: COVID-19 Pandemic): "In March 2020, the World Health Organization declared the outbreak of a novel coronavirus ('COVID-19') as a pandemic... The COVID-19 pandemic...is having a broad and negative impact on commerce and financial markets around the world. The extent of the impact of COVID-19 on the Institute's operational and financial performance will depend on certain developments, including the duration and spread of the outbreak which at present cannot be determined. Accordingly, the extent to which COVID-19 may impact the Institute's financial position and changes in net assets and cash flows is uncertain. The Institute has taken many steps to actively manage the impact of COVID-19 on its revenue, systems, and people. In regard to revenue, the Institute has begun making two-year forecasts. The Institute has learned to function virtually as a result of its robust systems that have enabled seamless transition to work from home. Building resilience of staff by providing mental health sessions and specific benefits for caregivers and parents has been a primary focus. The Institute also implemented a virtual check-in system to monitor morale and work priorities. The Institute will continue to make every effort to mitigate the current and future financial impacts of COVID-19." |
According to the World Resources Institute (WRI) tax filing for the fiscal year ended September 30, 2021, WRI 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):
"WRI uses a bonus program to recognize milestone achievements and nurture talent. We award both annual bonuses linked to the annual performance review and spot bonuses when staff achieve a significant goal or go above and beyond."
WRI reports "Bonus & incentive compensation" payments to 19 individuals in calendar year 2020, including $20,000 to Andrew Steer, President & CEO, whose reported total compensation in 2020 is $532,443. The other 18 reported "Bonus & incentive compensation" amounts range from $11,000 to $2,000, with associated reported total compensation ranging from $351,585 to $194,484 (IRS Form 990, Schedule J, Part II).
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