WORLD 9 06 AM

990Return of Organization Exempt From Income TaxForm Under section 501(c), 527, or 4947( a)(1) of the Internal Revenue Code (except black lung

Department of the Treasury - _" beneAt trust or private foundation)

A /Ay /Ar , /A"

A For the luub catenear ar or tax ear Innis 1 / v.- v v ana enam v .7 v v

B Check a applicable Please C Name of organization D Employer Identlfleutlon number

Address changeuse IRS 03-0483824label or

Name change print or WORLD EDUCATION & DEVELOPMENT FUND E Telephone number

type. Number and street (or P.O boa If mall Is not delivered to street address ) RoorrVsutteq Irntral return

S 915 BROADWAY 1108 F Accounting mothod: CashlFi trena urn

Insbuc- Qty or town , state or country , and ZIP + 4 Accrual q Other (specify)

Amended return gong. NEW YORK NY 10010 ►q Application pending • Section 501(c)(3) organizations and 4947(a)(1) nonexempt charltabts H and are not applicable to section 527 organizations I

trusts must attach a completed Schedule A (Forts 990 or 990-EZ). H(a) Is this a group return for afrdrates? q Yes IN No

G Website: ► WWW . WOt2LDFUND . ORt3 H(b) It *Yes .' enter number of efflttates ►J Organization type H(c) Are all affiliates tnduded? 11 Yes q No

check on one ► 501 c 3 1 insert no . ) n 4947(a)( 1 ) or 527 Q('No,' sttaeh a 118E See instrugbns)

K Check here ► q if the organization Is not a 509 (8X3) supporting organization and its gross H(d) Is this a separate return filed by an

receipts are normally not more than $25,000 A return is not required , but If the organization choosey organizationcovered a croup rullng7 11 Yes FRI

to file a return, be sure to file a complete return . I Gr Exemption Number ►M Check ► if the organization is not required

L Gross recei pts: Add lines 6b , 8b 9b , and 10b to line 12 ► 2 2 87 535 to attach Sch . B ( Form 990, 990-EZ , or 990-PF ,Part I Revenue, Expenses, and Chan es in Net Assets or Fund Balances (See the instructions.

1 Contributions , gifts, grants , and similar amounts received:

a Contributions to donor advised funds Is

b Direct public support (not Included on line 1a) lb 2 , 281 , 212e Indirect public support (not included on line 1a)

.

1c . ,^

d Government contributions (grants ) (not included on line 1a) 1d

e Total (add lines la through 1d) (cash $ 2,281,212 noncash $ ) 1e 2 , 281 , 212

2 Program service revenue Including government fees and contracts (from Part VII, line 93) 2

3 Membership dues and assessments 3

4 Interest on savings and temporary cash investments 4 6 , 323. .5 Dividends and Interest from securities 5

Ba Gross rents 6a

b Less :^r lib

wc Net rents in ct line lib from line 6a sc

7 fir investment income (d ► 7I,^ \1 ^ Q^8a O ass ratploYrnt 7h of a s other Securities s Other

o

th n inventory Be

b ess : a "s and sale expenses 8b

c Gain 1 Be ;r „ "

d Net gain or (loss). Combine line 8c, columns (A) and (B) 8d

9 Special events and activities (attach schedule). If any amount is from gaming, check here ► q 'a Gross revenue (not including $ of

contributions reported on line Ib)

...

9a

b Less : direct expenses other than fundraising expenses 9b

c Net income or (loss) from special events . Subtract line 9b from line 9a 9c

10a Gross sales of inventory , less returns and allowances 10a w^

Elb Less : cost of goods sold 10b l,

c Gross profit or (loss ) from sales of inventory (attach schedule). Subtract line 10b from One 10a 10c. .

11 Other revenue (from Part VII, line 103) 11

12 Total revenue. Add lines le, 2 . 3 , 4 . 5 . 6c, 7 8d 9c 1oc and 11 12 2 , 287 , 535

13 Program services (from line 44, column ( B)) 13 1 , 841 , 995

14 Management and general (from line 44 , column (C)) 14 205 , 8132 99415 Fundraising ( from line 44 , column (D)) 15 22

16 Payments to affiliates (attach schedule) 18

11 Total expanses . Add lines 16 and 44 , column A 17 2 , 27 0 802

18 Excess or (deficit) for the year . Subtract hne 17 from line 12 18 16 , 733.

19 Net assets or fund balances at beginning of year (from fine 73 , column (A)) 19 ,829 , 932. ..20 Other changes in net assets or fund balances (attach explanation) 20

Z 21 Net assets or fund balances at end of . Combine lines 18 , 19 , and 20 21 846 , 665Y Act and Paperwork Reduction Act Notice, see the separate Form 990 (2006)or Privac

ons.InstructiDar

WORLD 9 06 AM

Form 990 (2006) WORLD EDUCATION & DEVELOPMENT FUND 03-0483824 Page 2:^^Pa tll"", Statement of All organizations must complete column (A). Columns (8), (C), and (D) are required for section 501 (c)(3) and (4)

Functional Expenses organizations and section 4947(a)(1) nonexempt charitable trusts but optional for others. (See the instructions.)

Do not include amounts reported on lineo

(e) Program (C) Management

6b 8b 9b 10b or 16 of Part I. il (A) Total services and general(o) Fundralsing

22a Grants paid from donor advised funds (attach schedule )

r

` I '̂. {̀p"• ỳ ' `;

•(cash$ Cos?:.

gib;:i`

r ^,.'

^•^ ^y

L •,,j!•,, ^i.^^%.r,,¢, _ feIf this amount includes toreign grants, check here ► 22a

'i -; ;^

7',•',^:^ .)i;.^ ^'-

22bOther grants and allocations (attach schedule) Stmt 1

,

• • •

,,.h$-1,596 , 984 r $ K^s^w k' ^^ ^f4 "' s ^•.r•-

If this amount includes foreign grants , check here ► X 22b 1 , 596 , 984 1 , 596 , 984 . JA.^^23 Specific assistance to individuals (attach

schedule ) 2324 Benefits paid to or for members (attach

, rschedule ) 24 ;^^+ ;7 • r; ^``^' f • ' "

25a Compensation of current officers , directors,

key employees , etc. listed in Part V-A (attach

schedule ) See Statement 2 25a 130 , 008 65 , 004 26 , 002 39 , 002b Compensation of former officers , directors.

key employees , etc. listed In Part V-B (attach

schedule) 25b

c Compensation and other distributions , not Included above, to

disqualified persons (as defined under section 4958(IX1)) and

persons described in section 4958(cX3)(B) ( attach schedule) 25c

26 Salaries and wages of employees not included

on lines 25a, b , and c 26 141 , 502 110 , 049 28 , 022 3 , 43127 Pension plan contributions not included on

lines 25a, b, and c 27

28 Employee benefits not Included on lutes

25a-27 28 10 , 777 6 , 949 2 , 144 1 , 68429 Payroll taxes 29 21 , 793 14 , 051 4 336 3 , 40630 Professional fundraising fees 30

31 Accounting fees 31

32 Legal fees 32

33 Supplies 33. • .

34 Telephone 34 6 , 211 125 5 , 981 10535 Postage and shipping 35 6 , 743 441 5 380 92236 Occupancy 36 25 , 882 25 , 88237 Equipment rental and maintenance 37

39 Printing and publications 38

39 Travel 39 33 , 316 19 956 7 711 5 64940 Conferences , conventions , and meetings 40 2 , 363 436 526 1 , 40141 Interest 41

42 Depreciation , depletion , etc. (attach schedule) 42 12 , 905 8 , 319 -2 , 568 2 , 018. , .43 Other expenses not covered above (Itemize):

a See Statement 3 43a 282 , 318 19 , 681 97 , 261 165 , 376

b 43b

o 43e

d 43d

e 439

f 43f

9 43g

44 Total functional expenses . Add lines 22a

through 43g. (Organizations completing

columns ( B)-(D), carry these totals to lines

1 3-15) 44 2 270 802 1 841 , 995 1 205 , 813 1 222 , 994

Joint Costs . Check 10' u if you are following SOP 98-2.

Are any joint costs from a combined educational campaign and fundralsing solicitation reported In (B) Program services? ► Yes ©No

if 'Yes," enter (1) the aggregate amount of these joint coats S , (ii) the amount an Led to Program services S

011) the amount elocated to Management and general $ and (N) the amount allocated to Fundmsing $

DM Form 990 (2008)

WORLD 9.06 AAA

Form-990(2006) WORLD EDUCATION & DEVELOPMENT FUND 03-0483824 Pace 3

Pi 111" Statement of Program Service Accomplishments (See the instructions.)Form 990 Is available for public Inspection and. for some people , serves as the primary or sole source of information about a

particular organization . How the public perceives an organization In such cases may be determined by the information presented

on its return. Therefore, please make sure the return Is complete and accurate and fully describes , in Part III, the organization's

programs and accomplishments.

What is the organlzatloln's primary exempt purpose?► See Statement 4.. .... ..... ... ... . . . .........All organizations must describe their exempt purpose achievements Ina clear and concise manner. State the number

of clients served. publications Issued. etc. Discuss achievements that are not measurable. (Section 501(cX3) and (4)

organizations and 4947(aXl) nonexempt charitable trusts must also enter the amount of grants and alocat}ons to others.)

a EDUCATIONAL GRANTS, INITIATIVES AND TEACHER TRAINING TO

UNDERSERVED CO)* UNITIES THROUGHOUT LATIN AMERICA

(Grants and allocations $ 1,59C 98-4,) If this amount includes foreign grants, check here ►b

(Grants and allocations $ ) If this amount includes foreign grants, check here

c

d

(Grants and allocations 3 ) If this amount includes foreign grants, check here ►

e Other program services (attach schedule) See Stmt 5

(Grants and allocations $ If this amount Includes foreign grants, check here ►f Total of Program Service Expenses (should equal line 44, column (B), Program services)

Program ServiceExpenses

(Required for 501(cl(3) aid

(4) orpa., and 4947(a)(1)

UusM but optional br

1

245,0111 , 841 , 995

Form 990 (2006}

DAA

WORLD 9 06 AM

Form990(2006) WORLD EDUCATION & DEVELOPMENT FUND 03-0483824 Page 4PLW11W Balance Sheets (See the instructions.)Note : Where required, attached schedules and amounts within the description (A) (8)

column should be for end-of-year amounts only. Beginning of year End of year

45 Cash-non-interest-bearing 580 , 170 45 334 , 77546 Savings and temporary cash investments 46. ..

47a Accounts receivable 47a

b Less : allowance for doubtful accounts 47b 47c

+Yom) r A .U

46e Pledges receivable 48a 615 , 580b Less: allowance fordoubtfulaccounts 48b 298 , 000 48c 615 , 580

49 Grants receivable 49

50a Receivables from current and former officers , directors , trustees, andkey employees (attach schedule) 508

b Receivables from other disqualified persons (as defined under section 4958(i)(1)) and

persons described in section 4958(c)(3)(B) (att . schedule) 50b. , . .

51a Other notes and loans receivable (attach

Mschedule) 61a

b Less: allowance for doubtful accounts Sib Sic

Q 52 Inventories (or sale or use 5253 Prepaid expenses and deferred charges ...... . .. 4 , 451 53 1 , 17364a Imrestments•-publicly-traded

securities ► Cost FMV S40b Imestmentw-other securities

1,, 0(attach sehed t

Hcost FMV 54bu e) . . . . ... -

55a Investments -land, buildings, andequipment- basis 558

b Less : accumulated depreciation (attach

schedule ) 55b 55e

56 Investments-other (attach schedule) 56

57a Land , buildings , and equipment- basis Sla 56 , 037.b Less . accumulated depredation (attach

schedule ) See Statement 6 s7b 19 , 027 4 , 178 57c 37,01058 Other assets , including program-related investments

7(describe ► See Statement 23 , 300 5e 18 , 876_....

.. .59 Total assets must equal line 74 ) . Add lines 45 throu h 58 .. 910 , 099 59 1 , 007 , 414

6o Accounts payable and accrued expenses 78, 544 60 93 , 025

61 Grants payable 61 67 ,724

62 Deferred revenue 62

,e 63 Loans from officers , directors , trustees, and key employees (attach

schedule) 63

° 64a Tax-exempt bond liabilities (attach schedule) 640

b Mortgages and other notes payable (attach schedule) 64b....

65 Other liabilities (describe ► See Statement: 8 ) 1 1. 623 65.

66 Total liabilities . Add fines 60 through 65 .. .. 80 , 167 66 160 , 749

and complete linesOrganizations that follow SFAS 117, check here 10,

367 through 69 and fines 73 and 74. . '"

67 Unrestricted B9 , 932 67 841 , 225

68 Temporarily restricted 68 5 440

69 Permanently restricted 69

Organizations that do not follow SFAS 117, check here ► and

U. complete lines 70 through 74. ''st

0 or current fundstrust principal70 Capital stock 70,,

and equipment fundor land building71 Paid -in or capital surplus 71, , ,or other fundsaccumulated incomeendowment72 Retained earnings 72,,,

73 Total net assets or fund balances (add lines 67 through 69 or lines

70 through 72. (Column (A) must equal line 19 and column ( B) must

ual line 21 )e 829 , 932 73 846 , 665q74 Total liabilities and net assotslfund balances. Add lines 66 and 73

910 099 74 1 , o07 , 414

Form 8`JU (2006)

DAA

WORLD 9 06 AM

Form 990(2006) WORLD EDUCATION & DEVELOPMENT FUND 03-0483824 Page 5IPft., / A'. Reconciliation of Revenue per Audited Financial Statements With Revenue per Return (See the

instructions. )a Total revenue, gains, and other support per audited financial statements a 2 , 287 , 535b Amounts included on line a but not on Part 1, line 12:

1 Net unrealized gains on investments b1

2 Donated services and use of facilities 1*2

3 Recoveries of prior year grants b3

4 Other (specify).

Add Unes b1 through b4 b

c Subtract line b from line a e 2 287 535d Amounts Included on Pan, I, line 12, but not on line a-

1 Investment expenses not Included on Part I, line 6b _ d1

2 Other (specify): ;d2V4,

Add lines dl and d2 d

e Total revenue (Part t, line 12). Add lines c and d , , , , , , , . . . . . . e 2,287 535Part IV-B Reconciliation of Expenses per Audited Financial Statements With Expenses er Return

a Total expenses and losses per audited financial statements a 2 , 270 , 802b Amounts included on line a but not Part I, line 17: ,

1 Donated services and use of facilities b1

2 Prior year adjustments reported on Part I. line 20 b2

3 Losses reported on Part I, line 20 43

4 Other (specify):

. . . . ... . . . . . ..... ...Add lines b1l through b4 b

c

... , ,

Subtract line b from line a c 2 , 270 , 802d Amounts Included on Part I, line 17, but not on line a:

1 Investment expenses not included on Part I, line 6b d1 S=`

2 Other (specify):

_

d2

Add lines di and d2 d

o Total expenses (Part 1, line 17). Add line*s c and d . , , ► e 2,270,802• Part V-k-- Current Officers , Directors, Trustees , and Key Employees (List each person who was an officer , director, trustee,

Form FJJU (2008)

OAA

WORLD 906 AM

Form gso (20061 WORLD EDUCATION & DEVELOPMENT FUND 03- 0483824 Paae 6z,PaitVJ Current Officers , Directors , Trustees and Key Employees continued Yes No75a Enter the total number of officers , directors , and trustees permitted to vote on organization business at board

► 19meetings . . . ... .. V. {^ rC 7°.... .. .. ..b Are any office rs, directors , trustees , or key employees listed in Form 990, Part V-A, or highest compensated

employees listed in Schedule A, Part I. or highest compensated professional and other independent J.,,^^• ^^ra

contractors listed in Schedule A. Part Il-A or It-B, related to each other through family or business

relationships ? If "Yes; attach a statement that Identifies the individuals and explains the relationship ( s) 75b X

%

c Do any officers , directors , trustees , or key employees listed in Form 990, Part V-A, or highest )a ,

compensated employees listed In Schedule A. Part I, or highest compensated professional and other

Independent contractors listed in Schedule A, Part 11-A or !I-B, receive compensation from any other - '+

organizations , whether tax exempt or taxable , that are related to the organization? See the instructions for

the definition of "related organization." 765 X

If "Yes, attach a statement that Includes the information described in the instructions .

d Does the o anization have a written conflict of interest policy? ..... 75d X

'Fait` Former Officers - Directors - Trustees . and Kev Emolovees That Received Compensation or Other Benefits(If any former officer, director, trustee, or key employee received compensation or other benefits (described below) during the year, list that

person below and enter the amount of compensation or other benefits in the appropriate column. See the Instructions.)

(A) Name and address (B) Loans and AdvancesC) Compensat,on

id not paid,enter 4

(D) Contnbutions to emplobenefit plans d detained

nsetbn pwis

M (E) Expenseaccount and other

allowances

N/A

. . . . .. .. .. . ... ... . . ..

MWr- Other Information (See the instructions. ) Yes No76 Old the organization make a change In Its activities or methods of conducting activities ? if "Yes," attach a

detailed statement of each change

; ^, ,

76 X

77 Were any changes made in the organizing or goveming documents but not reported to the IRS? 77 X

8a

_

If 'Yes; attach a conformed copy of the changes.

Did the organization have unrelated business gross Income of $1,000 or more during the year covered by

this return?

'Ba,;

798

may-;-

X

b " has It filed a tax return on Form 990-T for this year?If 'Yes 78b

79

, . .. , .. .

Was there a liquidation , dissolution, termination , or substantial contraction during the year? If "Yes," attach

a statement 79 x

808 Is the organization related (other than by association with a statewide or nationwide organization ) through

common membership , governing bodies , trustees , officers, etc., to any other exempt or nonexempt

organization?

e rk^808

;.X

b

819

b

If 'Yes, enter the name of the organization ►and check whether it is exempt or [] nonexempt

Enter direct and Indirect political expendiMes . ( See line 81 instructions .) 81a

Did the oraanlzatlon file Form 1120-POL for this year?

L

iE`y'

81b

lvf

rrt ''•`

Form 990 (2006)

DAA

WORLD 9 06 AM

3-0483824

82a Did the organization receive donated services or the use of materials, equipment, or facilities at no charge

or at substantially less than fair rental value? 82a X

b If'Yes" you may Indicate the value of these items here. Do not include this

amount as revenue in Part I or as an expense in Part II.

(See Instructions in Part III.) $2b..,.. ..,.. .. .. ssr :x:

63a Did the organization comply with the public inspection requirements for returns and exemption applications? . , 83a X

b Did the organization comply with the disclosure requirements relating to quid pro quo contributions ? N/A 83b

84a Did the organization solicit any contributions or gifts that were not tax deductible? .. 84a X

b If 'Yes,` did the organization include with every solicitation an express statement that such contributions or 94, ' 01'

gifts were not tax deductible? N/A 84b

85 501 (c)(4), (5), or (6) organizations a Were substantially all dues nondeductible by members? . , , , N/A 86a

b Did the organization make only In-house lobbying expenditures of $2 ,000 or less ? N/A 85b

It "Yes" was answered to either 85a or 85b, do not complete 85c through 85h below unless the organization

received a waiver for proxy tax owed for the prior year.SNOW4c Dues , assessments , and similar amounts from members 85c V,

` 1d Section 162(e) lobbying and political expenditures 85d

o Aggregate nondeductible amount of section 6033(e )( 1)(A) dues notices 85e

f Taxable amount of lobbying and political expenditures (line 85d less 85e ) 8Sf

g Does the organization elect to pay the section 6033(e) tax on the amount on line 85?? N/A 85

h If section 6033(ex1)(A) dues notices were sent, does the organization agree to add the amount on line 85f s , ^.• , F i ;°~

E -to Its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the eic^E'! i -

following tax year? N/A 85h

86 501 ( c)(7) orgs . Enter. a Initiation fees and capital contributions included on line 12 86a

b Gross receipts , included on tine 12 , for public use of dub facilities . - . • - 86b

87 501 (c)(12) orgs. Enter : a Gross income from members or shareholders 87a :r' t

b Gross Income from other sources . ( Do not net amounts due or paid to other

sources against amounts due or received from them.) 87b

882 At any time during the year, did the organization own a 50% or greater interest In a taxable corporation or

partnership , or an entity disregarded as separate from the organization under Regulations sections

301.7701-2 and 301 .7701-3? If 'Yes ,' complete Part IX Saa X

b At any time during the year , did the organization , directly or Indirectly, own a controlled entity within the

meaning of section 512(b)(13)? If "Yes," complete Part XI ► sob X

89a 501 (c)(3) organizations . Enter : Amount of tax imposed on the organization during the year under:

ti► 0 4955 ►► 0

;.,^M^,0 1.; sec on; section 4912section 4911 b •

b 501 ( c)(3) and 501 (c)(4) orgs Did the organization engage In any section 4958 excess benefit transaction

'Yes, attachduring the year or did it become aware of an excess benefit transaction from a prior year? If

a statement explaining each transaction 69b X

c Enter : Amount of tax imposed on the organization managers or disqualified

`persons during the year under sections 4912 , 4955 , and 4958 ► 0d Enter. Amount of tax on line 89c, above, reimbursed by the organization ► 0 s

e All organizations . At any time during the tax year , was the organization a party to a prohibited tax shelter

transaction ? .,, 89e X

I All organizations . Did the organization acquire a direct or indirect Interest in any applicable Insurance contract?

g For supporting organizations and sponsoring organizations maintaining donor advised funds . Did the

.-.

supporting organization , or a fund maintained by a sponsoring organization , have excess business holdings

at any lime during the year? X

90a List the states with which a copy of this return is filed ► NYb Number of employees employed in the pay period that Includes March 12, 2006 (See

instructions.) 190b I 3

91a The books are in care of ► LUANNE ZURLO Telephone no. ► 2127228-5353 .915 BROADWAY, SUITE 1108

Located at ► NEW YORK , ZIP +4 ► 10010b At any time during the calendar year, did the organization have an Interest in or a signature or other authority

over a financial account In a foreign country (such as a bank account , securities account , or other financialYes No

account)?

f f i ►" "

91b ?L

the gn countryenter the name o ore ... .. .... ..if Yes,

e the instructions for exceptions and filing requirements for Form TO F 90.22 . 1, Report of Foreign BankSe

and Financial Accounts . ` " `tryForm 990 (2008)

DAA

WORLD 9:00 AM

Form 990 200s WORLD EDUCATION & DEVELOPMENT FUND 03-0483824 Page a

^PirtVI' Other Information (continued ) Yes No

c At any time during the calendar year, did the organization maintain an office outside of the United States? 1 91c X

If 'Yes." enter the name of the foreign country ►92 Section 4947(a)(1) nonexempt charitable trusts filing Form 990 In lieu of Form 1041- Check here - ► q

"Part VII _'-- Analysis of income-Producin Activities (See the instructions. )Note: Enter gross amounts unless otherwise Unrelated business Income E, jded section 512 513 , w 514 (E)

Indicated.

93 Program service revenue :Business code Amount

^^^

txdu>rtoncode

Amoou) nt

Related orexempt function

Income

a

b

c

d

ef Medicare/Medicaid payments

g Fees and contracts from government agencies

94 Membership dues and assessments

95 Interest on savings and temporary cash investments 14 6 , 32396 Dividends and Interest from secunties

97 Net rental income or (loss ) from real estate : 77

a debt-financed property

b not debt-financed property .. .

98 Net rental income or (loss) from personal property

99 Other Investment income

100 Gain or (loss) from sales of assets other than inventory

101 Net income or (loss) from special events

102 Gross profit or ( loss) from sales of inventory

103 Other revenue: a

b

c

d

e

104 Subtotal (add columns ( B), (D), and ( E)) 0 6 , 323 1 0105 Total (add line 104, columns ( B), (D), and ( E)) ► 6 1 323Note: Line 105 plus line le , Part I should equal the amount on line 12 Pert

1 P'rt . I1" Relationshin of Activities to the Accomelishment of Exempt Punooses (See the instruction s.)

Line No. Explain how each activity for which income Is reported in column (E) of Part VII contrbuted importantly to the accomplishmentof the organization's exempt purposes (other than by providing funds for such purposes).

N/A

(a) Did the organization , during the year. receive any funds, directly or

(b) Did the organization, during the year, pay premiums, directly or ind

WORLD 9.06 AM

Form 990 (2006) WORLD EDUCATION & DEVELOPMENT FUND 03-0483824 Page 9Part X1r-," Information Regarding Transfers To and From Controlled Entities . Complete only if the organization

in n nnnfirII rl . --i-41- ^o ,1 fns in cenfinn All/hl/1'11

Yes No

106 Did the reporting organb ation make any transfers to a controlled entity as defined In section 512(bX13) of

the Code? If'Yes ' complete the schedule below for each controlled enti ty . X

(A) (B) (C) (D)Name, address, of each Employer 10 Description of Amount of transfer

controlled entity Number transfer

a

to

c........ . .....

Totals

Yes No

107 Did the reporting organization receive any transfers from a controlled entity as defined In section

512( b)( 13) of the Code? If "Yes ° complete the schedule below for each controlled enti . X

(A) (B) (C)Name, address, of each Employer 10 Description of

(D)

Amount of transfercontrolled entity Number transfer

a

b

c

Totals ^K t1 iSYa Ff-

Mv^' :', ,•.9 t,$ '^ s.' !!.': 1 j^'

V tr a. h: Y, r^̂ !L(`^ 1

;A. ,y h'L^rt:S

•` Fnt '1AC+' '.

^ •`SY F..f

i ^^a^ j S l

P ^•L

Yes No

106 Did the organ ave a binding written contract in effect on August 17, 2006, covering the Interest,

rents . ties. and annuities describ&'t rsestion 107 above?

Under penalties of perjury, I ve exarr^pvd this return, Including eoomrpan i1g schedules and statements . and to the best of my knowledge

and befef, it is tru e, co to Dec1a of preparer (other Clan officer) Is based on all information of which preparer has know pdga.

Please /Vcy,Sign

of officer Date

LUANNE Z E]^CUTIVE DIRECTOR

:::

Type or print name and title

Preparer 'sData

1Cho& H

(gPreparer'see Gen Inssrr

or PTIN

11 / 14 / 07 employed ► P00292523Prereparef's Gar o Company EIN ► 20-2191914

Use Only Firms name (or youwIf set employed, 18 IVIberry Cir. Phoneaddresa,^2IP•4 St en Island , NY 10314 no. ► 718-982-1455

Form 990 (20(36)

DAA

WORLD 9:06 AM

SCHEDULE A Organization Exempt Under Section 501(c)(3)(Form 990 or 990-EZ) (Except Private Foundation) and Section 501(e), 501(f), 501(k), 501(n),

or 4947(.)(1) Nonexempt Charitable Trust

of the TreasuryI Supplementary Information -(See separate instructions.)

ews Servicervice ► MUST be completed by the above organizations and attached to their Form 990 or 99904!Z

2006Name of the organaaton Employer WentHlcation number

WORLD EDUCATION & DEVELOPMENT FUND 03-0483824

Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees5e9 pa-ge -L or the instructions. List eacn one. It tnere are none , enter None."

(a) Name and address of each employee paid morethan $50.000

(b) Title and average hoursper week devoted to position (c) Camp.

(d) Contrib. toempl ben plans8 deferred corn

(o) Expenseaccount & other

allowances

MICHELLE VIEGAS NEW YORK

915 BROADVAY SUITE 1801 10010 40 65 , 000 0 0

Total number of other emp loyees paid over $50000 ► 02 P# J A,0^ Compensation of the Five Highest Paid Independent Contractors for Professional Services

(See page 2 of the instructions. List each one (whether individuals or firms . If there are none , enter "None." )(a) Name and address of each independent contractor paid more than $50,000 (b) Type of service (c) Compensation

NONE

.. ... .....

Total number of others receiving over $50,000 for

professional services ►_a'•P_art11- -': Comoensation of the Five Hiahest Paid Independent Contractors for Other Services

(List each contractor who performed services other than professional services, whether individuals orfirms. If there are none enter "None." See oacle 2 of the instructions. )

(a) Name and address of each independent contractor paid more than $50.000 (b) Type of service ( c) Compensation

t. l ARIN ORIENTAL NEW YORK

80 COLUMBUS CIRCLE 10023 GALA EVENT 166 , 427

. .. .. ...... .... ..

Total number of other contractors receiving over

$50 ,0D0 for other services ► 0 NOW- ,1' :For Paperwork Reduction Act Notice, see the Instructions for Form 990 and Form 990-EZ. Schedule A (Form 990 or 990-EZ) 2006

DAA

WORLD 9 06 AM

Schedule A Form 990 or 990-EZ 2006 WORLD EDUCATION & DEVELOPMENT FUND 03-0483824 Page 2

P04-MI, Statements About Activities (See page 2 of the instructions .) Yes No

1 During the year , has the organization attempted to Influence national , state, or local legislation , Including any

attempt to Influence publi c opinion on a legislative matter or referendum? If "Yes ," enter the total expenses paid

or Incurred In connection with the lobbying activities ► $ (Must equal amounts on line 38.Part V(-A, or line I of Part VI-B.) 1 X.......... ....... .

Organ izations that made an election under section 501 (h) by filing Form 5768 must complete Part VI-A Other

organizations checking 'Yes' must complete Part V(- B AND attach a statement giving a detailed description of

the lobbying activities.

2 During the year , has the organization , either directly or indirectly , engaged in any of the following acts with any 8 •z. e ;::'

substantial contributors , trustees , directors , officers , creators, key employees, or members of their families , or „ .;

with any taxable organization with which any such person Is affiliated as an officer , director, trustee , majority

owner , or principal beneficiary ? ( if the answer to any question is 'Yes ,* attach a detailed statement explaining the

a Sale , exchange , or leasing of property? 2a X... ......... .. .........

b Lending of money or other extension of credit? 2b X. ,

c Furnishing of goods , services, or faci l ities? 2c X

d Payment of compensation (or payment or reimbursement of expenses if more than $1.000)? See Part V, Form 990 2d X

e Transfer of any part of its Income or assets? 29 X

3a Did the organization make grants for scholarships, fellowships . student loans , etc.? (If "Yes, attach an explanation

of how the organization determines that recipients qualify to receive payments.) 3a X

b Did the organization have a section 403(b) annuity plan for its employees? 3b X. ..

c Did the organization receive or hold an easement for conservation purposes, including easements to preserve open

space , the environment , historic land areas or historic structures If 'Yes,' attach a detailed statement 3c X, ..

d Did the organization provide credit counseling , debt management , credit repair , or debt negotiation services? 3d X• .... . ..

4a Did the organization maintain any donor advised funds? If 'Yes , complete lines 4b through 4g. If'No' complete

lines 4f and 4g 4a X

b Did the organization make any taxable distributions under section 4966? .. . .... . . . , , . 4b

c Did the organization make a distribution to a donor, donor advisor, or related person? , , , , , ,

d Enter the total number of donor advised funds owned at the end of the tax year

e Enter the aggregate value of assets held In all donor advised funds owned at the end of the tax year

f Enter the total number of separate funds or accounts owned at the end of the tax year (excluding donor advised

funds included on One 4d) where donors have the right to provide advice on the distribution or investment of

amounts in such funds or accounts ....... . . . .

g Enter the aggregate value of assets held in all funds or accounts Included on line 4f at the end of the tax year.

►

►

► 0

► 0

Schedule A (Form 990 or 990-EZ) 2006

DAA

WORLD 9-06 AM

Schedule A (Form 990 or 990•EZ) 2006 WORILD EDUCATION & DEVELOPMENT FUND 03-0483824 Page 3

p rat -4 Reason for Non-private Foundation Status (See pages 4 through 7 of the instructions.)

I certify that the organization is not a private foundation because it Is: (Please check only ONE applicable box.)

5 q A dwrch, convention of churches, or association of churches. Section 170(b)(1)(A)(i)

8 q A school . Section 170(bX1HA)( d). (Also complete Part V)

7 q A hospital or a cooperative hospital service organization . Section 170(b)(1)(A)(Iil).

8 q A federal, state, or local government or governmental unit Section 170(b)(1)(AHv).

9 q A medical research organization operated In conjunction with a hospital. Section 170(b)(1)(AHiii). Enter the hospital's name, city,

and state ►

10 q An organization operated for the benefit of a coflege or university owned or operated by a governmental unit Section 170(b)(1)(AXIv).

(Also complete the Support Schedule in Part IV-A.)

118 ® An organization that normally receives a substantial part of its support from a governmental unit or from the general public . Section

170(b )(1)(AHvi) (Also complete the Support Schedule In Part IV-A.)

11b q A community trust Section 170(b)(1 HAHvi ). (Also complete the Support Schedule in Part IV-A.)

12 q An organization that normally receives : ( 1) more than 33 1/3%of its support from contributions, membership fees, and gross receipts

from activities related to its chartable , etc., functions-subject to certain exceptions, and (2) no more than 33 113% of its support

from gross investment income and unrelated business taxable Income (less section 511 tax ) from businesses acquired by the

organization after June 30, 1975. See section 509(a )(2). (Also complete the Support Schedule in Part IV-A.)

13 q An organization that is not controlled by any disqualified persons (other than foundation managers) and otherwise meets the

requirements of section 509(aX3) Check the box that describes the type of supporting organization:

q Type I q Type It q Type III-Functionally Intergrated q Type III-Other

rroviae the ronowi tionsootnumsu ppot the su rraa organaanons. gee e i oT me insnvcuons.(a)

Name(s) of supported organization (s)

(b)

Employer

Identification

number ( EIN)

(c)

Type of

organization

(described In lines

5 through 12

above or IRC

section)

(d)

Is the supported

organization listed In

the supporting

organization's

governing documents?

(e)

Amount of

support

Yes No

Total

14 11 An organization organized and operated to test for public safety . Section 509(a)(4) . (See page 7 of the Instructions.)

Schedule A (Form 990 or 990-EZ) 2006

DAA

WORLD 9'08 AM

Schedule A (Form 990 or 990-EZ) 2006 WORLD EDUCATION & DEVELOPMENT FUND 03-0483824 Paae 4

Part IV-A,,' Support Schedule (Complete only if you chedced a box on line 10, 11, or 12.) Use cash method of accounting.

Note: You may use the worksheet In the instructions for converting from the accrual to the cash method of accountin .

Calendar year or escal year innin In) ► a 2005 b 2004 (c) 2003 d 2002 a Total15 Gifts . grants, and contributions received. (Do

not Include unusual ara nts. See line 28 1 , 831 , 256 281 , 918 834 077 2 , 947 , 25116 Membershl tees received • 0

17 Grose receipts from admissions . merchandise

sold or services performed, or furnishing of

facilities in any aebvlty that is related to the

OManization' s charitable . etc purpose 0

18 Gross Income from interest, dividends,amounts received from paymems on securitiesloans (section 512( e)(5))• rents , nryathes. and

unrelated business taxable Income (less

section 511 taxes) from businesses acquired

this Organization afterJune30, 1975 2 , 493 1 , 739 4 , 23219 Not Income from unrelated business

activities not Included in Hrre 18 0

20 Tax revenues levied for the organizations

benefit and either paid to It or expended on

Its behalf 021 The value of services or facilities furnished to

the organization by a governmental unit

without charge Do not Include the value of

services or facilities genera lly furnished to the 0pu blic without chic

22 Other Income Attach a schedule Do notinclude gain or ( ties) from

ca 0sale of et assets .23 Total of Ines 15 throe 22 1 , 833 , 749 283 , 657 834 , 077 2 , 95-1 , 48324 Line 23 Minus line 17 1 , 833 , 749 283.L 657

1834 , 077 2 , 951 , 483

25 Enter l%of line 23... 18 . 337 2 . 8-17 8 341 ^b'°26 Organizations described on lines 10 or 11: a Enter 2% of amount In column (e), line 24 ► 26a 59 , 030

b Prepare a list for your records to show the name of and amount contributed by each person (other than a '' "^•°vc.

governmental unit or publicly supported organization ) whose total gifts for 2002 through 2005 exceeded the -Nn A% +^ SfA:t `i

amount shown In line 26a . Do not file this list with your return . Enter the total of all these excess amounts ► 28b 739 , 250

c Total support for section 509(aXl) test: Enter line 24. column (e) ► 26c 2 , 951 , 483d Add : Amounts from column (e) for lines: 18 4 , 2 32 19 4 :

22 26b 739, 250 ► 26d 743 , 482e Public support (line 26c minus line 26d total ) ► 26e 2 , 208 , 001

IF Public suort percentage line26e (numerator) divided line26c (denominator)) . ... ► 26f 74.8099%

it Investment Income loortenta ge- line 18, column v (numerator) divided line 27f (denominator))

27 Organizations described on line 12: a For amounts Included in lines 15, 16, and 17 that were received from a "disqualified

person," prepare a list for your records to show the name of, and total amounts received in each year from, each "disqualified person."

Do not file this list with your return. Enter the sum of such amounts for each year: N/A

(2005) (2004) (2003) (2002).

b For any amount included in line 17 that was received from each person (other than "disqualified persons"), prepare a list for your records to

show the name of, and amount received for each year, that was more than the larger of (1) the amount on line 25 for the year or (2) $5,000.

(include In the list organizations described in lines 5 through 11 b, as well as Individuals.) Do not file this list with your return. After computing

the difference between the amount received and the larger amount described in (1) or (2). enter the sum of these differences (the excess

amounts) for each year: N/A

(2005) (2004) (2003) (2002)

c Add: Amounts from column (e) for lines: 15 16

17 20 21 ► 27c

d Add: Line 27a total and line 27b total ► 27d

e Public support pine 27c total minus line 27d total) ► 27e

f Total support for section 509(aX2) test; Enter amount from line 23, column (e) ► 27f

g Public support percentage (line 279 (numerator) divided byline 2711 (denominator)) ► _7 %► 27h %

28 Unusual Grants: For an organi¢atlon described in line 10, 11, or 12 that received any unusual grants during 2002 through 2005,

prepare a list for your records to show, for each year. the name of the contributor, the date and amount of the grant, and abrief

description of the nature of the grant. Do not file this list with your return. Do not include these grants In line 15.

Schedule A (Form 990 or 990-U) 2006

DAA

WORLD 8.09 AM

Schedule A (Form 990 or 990-EZ ) 2006 WORLD EDUCATION & DEVELOPMENT FUND 03 -0483824 Page 5Private School Questionnaire (See page 9 of the instructions.)o be completed ONLY by schools that chocked the box on line 6 In Part IV)

s, N/A29 Does the organization have a racially nondiscriminatory policy toward students by statement in Its charter, bylaw Yes No

other governing instrument, or in a resolution of its governing body? 29

30 Does the organization Include a statement of its racially nondiscriminatory policy toward students in all Its `• !' , ^r^'

brochures , catalogues , and other written communications with the public dealing with student admissions ,

programs, and scholarships? 30

31 Has the organization publicized its racially nondiscriminatory policy through newspaper or broadcast media during

the period of solicitation for students , or during the reg i stration period if it has no solicitation program , In a way

that makes the policy known to all parts of the general community It serves? .......... .. . . . . . . .. .. 31

It"Yes" please describe ; if °No' please explain . ( If you need more space, attach a separate statement.) r?;

32 Does the organization maintain the followin g• ^1;•/.^t . •_ ^"

a Records indicating the racial composition of the student body , faculty , and administrative stafr? 329

b Records documenting that scholarships and other financial assistance are awarded on a racially nondiscriminatory

basis? 32b

c Copies of all catalogues, brochures , announcements , and other written communications to the public dealing

with student admissions , programs , and scholarships? 32c

d Copies of all material used by the organization or on Its behalf to solicit contributions? 32d

If you answered "No' to any of the above, please explain . ( If you need more space, attach a separate statement .) 4 t?

. . ...... . . . . . .. ..33 Does the organization discriminate by raoe in any way with respect to:

fln

a Students ' rights or privileges? 33a

b Admissions policies?

c Employment of faculty or administrative staff?

d Scholarships or other financial assistance?

e Educational policies?

f Use of facilities?

g Athletic programs?

h Other extracurricular activities? , . . .. . . . , •

If you answered 'Yes' to any of the above, please explain. (If you need more space, attach a separate statement)

34a Does the organization receive any financial aid or assistance from a governmental agency?

b Has the organization's right to such aid ever been revoked or suspended?

If you answered 'Yes' to either 34a or b. please explain using an attached statement.

35 Does the organization certify that It has compiled with the applicable requirements of sections 4.01 through 4.05

Schedule A (Form 990 or 990-EZ) 2006

DAA

WORLD s 06 AM

Schedule A(Form 990 or 990-EZ) 2008 WORLD EDUCATION & DEVELOPMENT FUND 03-0483824 Page 6:'Par" 1/^, aA; Lobbying Expenditures by Electing Public Charities (See page 10 of the instructions.)

a()

(b)Limits on Lobbying Expenditures ,ofnnaced group To be completed

totals for all electing

(The term "expenditures' means amounts pa id or incurred

36 Total lobbying expenditures to Influence public opinion (grassroots lobbying) 36,

37 Total lobbying expenditures to influence a legislative body (direct lobbying) 37

38 Total lobbying expenditures ( add lines 36 and 37) 38

39 Other exempt purpose expenditures 3940 Total exempt purpose expenditures (add lines 38 and 39) 40

41 Lobbying nontaxable amount. Enter the amount from the following table-

tf the amount on firm 40 Is- The lobbying nontaxable amount Is -

Not over $500,000 20% of the amount on line 40 y u

Over $500,000 but not over $1,000 ,000 .. , • $100 ,000 plus 15% of the excess over $500 ,000

Over $1.000 ,000 but not over $1,500 ,000 . .. $175 ,000 plus 10% of the excess over $1,000,000 41

Over $1,500 ,000 but not over $17,000,000 $225,000 plus 5% of the excess over $1,500,000 t`.

WOver $17,000 ,000 $1 ,000,000J ,'.

M&:42 Grassroots nontaxable amount (enter 25% of line 41) 4243 Subtract line 42 from line 36. Enter -0- If line 42 Is more than line 36 43

44 Subtract fine 41 from fine 38 Enter -0- if line 41 is more than line 38 44

WIFCaution: If there is an amount on either line 43 or line 44 , you must file Form 4720. i5 3 14-Year Averaging Period Under Section 501(h)

(Some organizations that made a section 501(h) election do not have to complete all of the five columns below.

See the instructions for lines 45 through 50 on page 13 of the instructions. )

Lobbying Expenditures During 4-Year Averaging Period

Calendar year (or (a) (b) (c) (d) (e)

fiscal year beginning In ) ► 2008 2005 2004 2003 Total

43 Lobbying nontaxable amount

46 Lobbying calling amount (150% of • '` -`^"^ , ^ ^^ , ; • ^`. ^ „ , 3

line 45 (e))

^ y _ }^-^^I .

47 Total lobbyi ng expenditures

48 Grassroots nontaxable amount

49 Grassroots ceiling amount (150% of

line 48(e))

30 Grassroots lobbying expenditures

PartYU,)5; Lobbying Activity by Nonelecting Public Charities

( For repo rting only by organizations that did not com plete Part VI-A (See a e 13 of the instructions.) N/A

During the year, did the organization attempt to influence national, state or local legislation, including anyYes No Amount

attempt to influence public opinion on a legislative matter or referendum, through the use of.

a Volunteers

b Paid staff or management (Include compensation In expenses reported on lines c through h.)

c Media advertisements

d Mailings to members, legislators, or the public

e Publications, or published or broadcast statements

f Grants to other organizations for lobbying purposes

g Direct contact with legislators, their staffs, government officials, or a legistatJve body

h Rallies, demonstrations, seminars, conventions, speeches, lectures, or any other means ....

I Total lobbying expenditures (Add lines c through h.)

If "Yes" to any of the above, also attach a statement giving a detailed description of the lobbying activities

Schedule A (Form 990 or 990-EZ) 2006

0AA

WORLD 906 AM

Schedule A (Form 990 or 990-EZ) 2006 WORLD EDUCATION & DEVELOPMENT FUND 03-0483824 Page 7^^Per'VIL Information Regarding Transfers To and Transactions and Relationships With Noncharitable

Exempt Ornanizations (See page 13 of the instructions.)51 Did the reporting organ ization directly or Indirectly engage In any of the following with any other organization described in section

501(c) of the Code (other than section 501(c)( 3) organizations ) or In section 527, relating to political organizations?

a Transfers from the reporting organization to a noncharitable exempt organization of. Yes No

(I) Cash .... 61 i X

(II) Other assets a ii X

b Other transactions:

(I) Sales or exchanges of assets with a nancharitable exempt organization I X

(II) Purchases of assets from a noncharitable exempt organization Wil l X

(Ill) Rental of facilities , equipment, or other assets .. , .. .. . A BI X

(Iv) Reimbursement arrangements , , MIA X

(v) Loans or loan guarantees b(y) X

(v) Performance of services or membership or fundraising solicitations b(vi ) X

c Sharing of facilities , equipment, mailing lists, other assets , or paid employees . , .. _ . . .. , . c

d If the answer to any of the above Is "Yes," complete the following schedule . Column ( b) should always show the fair market value of the

goods , other assets , or services given by the reporting organization . If the organization received less than fair market value In any

52a Is the organization directly or indirectly affiliated with , or related to, one or more tax-exempt organizations

described In section 501 (c) of the Code (other than section 501 (cX3)) or in section 527? ► 9 Yes ® No

AA Schedule A (Form 550 or tra0-c1 cwo

WORLD 9 0e AM

Fort 4562 Depreciation and Amortization OMB No 15454172(Including Information on Listed Property) 2006Department of the Treasury

Internal Revenue Service Attachment67► See separate instructions . 110 Attach to your tax return . Sequence No

Name(s) shown on return Identifying number

WORLD EDUCATION & DEVELOPMENT FUND 03-0483824Business or activity to why this form relates

Indirect DepreciationPart I Election To Expense Certain Property Under Section 179

Note : If you have any listed property, complete Part V before you complete Part 1.I Maximum amount. See the Instructions for a higher limit for certain businesses 1 108 , 000

2 Total cost of section 179 property placed In service (see instructions) 2

3 Threshold cost of section 179 property before reduction in limitation 43030 , 000

4 Reduction in limitation . Subtract line 3 from line 2. If zero or less, enter -0- 45 Dollar limitation for tax near. Subtract line 4 from line 1. If zero or less . enter -0-. It married flllno saoarately . see instructions ... . .. 5

7 Listed property. Enter the amount from One 29 L 7 l8 Total elected cost of section 179 property. Add amounts in column (c), lines 6 and 7

9 Tentative deduction Enter the smaller of line 5 or line 810 Carryover of disallowed deduction from line 13 of your 2005 Form 4,562,11 Business income limitation. Enter the smaller of business Income (not less than zero) or line 5 (see Instructions)12 Section 179 expense deduction. Add lines 9 and 10. but do not enter more than line 11 ..

Note: Do not use Part ll or Part III below for listed pro pe rty . Instead , use Part V.

'4 Pa 1.11 • Special Depreciation Allowance and Other Depreciation (Do not include listed prop (See instructions. )14 Special allowance for qualified New York Liberty or Gulf Opportunity Zone property (other than listed

property) placed in service during the tax year (see Instructions) 14

15 Property subject to section 168(fX11) election 15

- Part III MACRS Depreciation (Do not include listed Drooertv.) (See instructions.)

17 MACRS deductions for assets placed in service In tax years beginning before 2006 . _ _ , • , , , , , . , . , - 17 1 8 63

18 if you are electing to group any assets placed In service during the tax year into one or more general asset accounts , check here ► I f »" •^ra : t ^ I %^ r '.: %:.

Section B-Assets Placed in Service Durin 2006 Tax Year Usin the General Da reciatlon S ten

(a) Classdtcatlon of property(b) Month andyear placed in

service

(c ) Basis for depreciation(txrsinessrmvostment useonly-see Instruetlorre

(d) Recovery

penod(e) Convention (f) Method (9) Depreciation deduction

19a 3-year property k;b•. ,

b 5-year prope rty 1 , 495 5 . 0 HY 20ODB 598c 7--ye ar propeMf 19 130 7.0 HY 200DB 4 , 734d 10G-ye ar property

e 15-year property

f 20-year prope rty

25-year pro perty 25 yrs. S/L

h Residential rental 27.5 yrs. MM SJLproperty 27.5 yrs. MM S/L

I Nonresidential real 39 yrs. MM SILproperty MM SJL

Section C-Assets Placed in service Durtn 2006 Tax Year Usl the Alternative Deprec iation System

20a Class We Ya: L

b 12-year 12 yrs. S/L

c 40-year 40 yrs. MM S/L

- Part W. Summa ry (see instructions )21 Listed property. Enter amount from line 28 , • . . - 21

22 Total. Add amounts from line 12, lines 14 through 17, lines 19 and 20 in column (g), and line 21.

Enter here and on the appropriate lines of your return Partnerships and S corporations-see instr 22 12,905

r'!;M

23 For assets shown above and placed In service during the current year, *`,,F,

enter the portion of the basis attributable to section 263A costs 23"

For Paperwork Reduction Act Notice, see separate Instructions. Form 4562 (2oo6)

pa, There are no amounts for Page 2

t

WORLD WORLD EDUCATION & DEVELOPMENT FUND 10:08 AM

03-0483824 Federal StatementsFYE: 6/30/2007

NameAddress

Date ofGift

SEE SCHEDULE ATTACHED

Total

NameExpenses

LUANNE ZURLO

Compensation

Total

Statement 1'- Form 990. Part It. Line 22b - Other Grants and Allocations

Relationship Class ofto Org Activity

Description of Cash NonCash BookProperty Contrib Contrib Value

$ 1,596,984 $ $

$ 1,596,984 $ 0 $ 0

Xa.

BV FMVExplantn Explntn

Statement 2 - Form 990. Part II Line 25a - Compensation of Current Officers

Program Management 8 %Services General fundraising

$ $ $

65,004

$ 65,004

26,002

$ 26,002

39,002

$ 39,002

1 1-2

(11

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[fill a [fill muIng 1RUM, M 11111 !199911 'w H. is. all rwill

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^I+ q^ O W ^a8A O^ODOSA O mm btNil m)++NOOI NAN91 Q1Ntw00 Oln I!^ O^ {n ON W^

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V + Nr04f 1N0+0(P^OOA A^100•fN.lOr r NOQ 1m: v,aa00 ONY' o[~TNOm: ^^

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WORLD WORLD EDUCATION & DEVELOPMENT FUND 9:06 AM

03-0483824 Federal StatementsFYE: 6/30/2007

Statement 3 - Form 990. Part II.LIne 43 - Other Functiona l Expenses

Total Program Mgt & Fund-Description Expenses Service General Raising

$ $ $ $Expenses

GALA EXPENSES 123,326 123,326ADVERTISING AND PROMOTION 1,720 158 576 986AUDITING FEES 11,750 11,750BANK AND CREDIT CARD FEES 8 ,706 763 7,890 53

INSURANCE 3,073 3,073CAPACITY BUILDING 75,335 14,832 30,945 29,558OFFICE AND GENERAL 19,242 1,313 17,036 . 893WEB DESIGN AND DEVELOPMENT 23,285 70 18,567 4,648MARKETING MATERIALS 10,596 1,260 4,554 4,782OTHER 5,285 1,285 2,870 1,130

Total $ 282,318 $ 19,681 $ 97,261 $ 165, 376

3

WORLD EDUCATION & DEVELOPMENT FUND03-0483824FYE 6/30/07 FEDERAL STATEMENT

STATEMENT 4 - FORM 990, PART IIIORGANIZATIONS PRIMARY EXEMPT PURPOSE

Worldfund's mission is to support high-quality and results-driven education for impoverished youth in Latin America.

Worldfund achieves it mission through its investment in schools, gifted student programs and superior teacher training.

Worldfund...

...is a targeted and efficient pan-regional platform that finances and facilitates education initiatives, providing acritical link between private investment and educational attainment in Latin America.

...has invested $3.2 million in education programs throughout Latin America since its launch in December 2002,

directly impacting 30,000 students in Argentina , Brazil , Chile , Colombia , El Salvador , Mexico , Peru and Venezuela

..expects to invest US$70 million over the next 8 years to directly reach 250,000 Latin American students.

The case for Worldfund:The level of education attained by most Latin Americans is low and of poor quality.The absence of an educated workforce has discouraged job creating investment and economic growth.

Poor teaching performance is a major contributing factor to low educational quality.

Education levels have fallen dramatically behind Asia over the past three decades.

What Worlfund does:Carefully selects regional partners to work alongside in providing high-quality, outcome driven educational

opportunities to underprivileged children.Finances and provides professional support to select schools and educational programs.

Builds alliances to expand proven education models throughout Latin America.

Worldfund program areas:1. Schools (Mano Amiga, Lumen Del , Starfish , UNETE)2. Superior Teacher Training (Partnership for Teaching Excellence, Dartmouth CollegeTeacher English Training)

3. Gifted Youth Programs ( Reading Circles , Oguntec , Academy for Leadership in the Sciences

WORLD WORLD EDUCATION & DEVELOPMENT FUND 9:06 AM

03-0483824 Federal StatementsFYE: 6/30/2007

Statement 6 - Form 990 . Part IV. Line 57 Land, Buildings,and Equipment

Description

Beg inning Accum End of AccumginningDeprec Year Deprec

FURNITURE & EQUIPMENT$ 10,300 $ 6,122 $ 56,037 $ 19,027

Total $ 10,300 $ 6,122 $ 56,037 $ 19,027

Statement 7 - Form 990. Part IV. Line 58 - Other Assets

Beginning End ofDescription of Year Year

DEPOSITS $ 23,300 $ 18,876

Total $ 23,300 $ 18,876

Statement 8 - Form 990. Part IV. Line 65 - Other Liabilities

Beginning End ofDescription of Year Year

PAYROLL TAXES PAYABLE $ 1,623 $

Total $ 1,623 $ 0

6-8

WORLD WORLD EDUCATION & DEVELOPMENT FUND 10:39 AM03-0483824 Federal StatementsFYE: 6/30/2007

Statement 9 - Form 990, Part V-A - List of Officers Director Trustees, and KeEmployee

Name and AverageAddress Title Hours Compensation Benefits Expenses

LUANNE ZURLO PRESIDENT 40 130,008 0 0915 BROADWAY, SUITE 1108NEW YORK NY 10010

MARY BOURQUE DIRECTOR 0 0 0 0915 BROADWAY, SUITE 1108NEW YORK NY 10010

LISA GIUFFRA DIRECTOR 0 0 0 0915 BROADWAY SUITE 1108NEW YORK NY 10010

TARA KENNEY DIRECTOR 0 0 0 0915 BROADWAY SUITE 1108NEW YORK NY 10010

ORLANDO MUYSHONDT DIRECTOR 0 0 0 0915 BROADWAY SUITE 1108NEW YORK NY 10010

LUIS F. VELASCO DIRECTOR 0 0 0 0915 BROADWAY SUITE 1108NEW YORK NY 10010

STEFANO NATELLA DIRECTOR 0 0 0 0915 BROADWAY SUITE 1108NEW YORK NY 10010

BYRON SILIEZAR DIRECTOR 0 0 0 0915 BROADWAY SUITE 1108NEW YORK NY 10010

CARLOS LABARTHE DIRECTOR 0 0 0 0'915 BROADWAY SUITE 1108NEW YORK NY 10010

9

WORLD WORLD EDUCATION & DEVELOPMENT FUND 9:06 AM03-0483824 Federal StatementsFYE: 6/30/2007

Statement 9 - Form 990, Part V-A - List of Officers ., Directors , Trustees, and KeyEmployees (continued)

Name and AverageAddress Title Hours Compensation Benefits Expenses

JOHN BOORD DIRECTOR 0 0 0 0915 BROADWAY, SUITE 1108NEW YORK NY 10010

LUIS GARZA MEDINA DIRECTOR 0 0 0 0915 BROADWAY, SUITE 1108NEW YORK NY 10010

CLAUDIO GONZALEZ GUAJARDO DIRECTOR 0 0 0 0915 BROADWAY, SUITE 1108NEW YORK NY 10010

STUART ALLEN DIRECTOR 0 0 0 0915 BROADWAY, SUITE 1108NEW YORK NY 10010

CHRIS MELTON DIRECTOR 0 0 0 0915 BROADWAY, SUITE 1108NEW YORK NY 10010

KATHERINE SHEA WESTRA DIRECTOR 0 0 0 0915 BROADWAY, SUITE 1108NEW YORK NY 10010

CAROLYN TRABUC DIRECTOR 0 0 0 0915 BROADWAY, SUITE 1108NEW YORK NY 10010

MAURICIO TRABUC DIRECTOR 0 0 0 0915 BROADWAY, SUITE 1108NEW YORK NY 10010

EDUARDO VIDAL DIRECTOR 0 0 0 0915 BROADWAY, SUITE 1108NEW YORK NY 10010

9

WORLD WORLD EDUCATION & DEVELOPMENT FUND03-0483824 Federal StatementsFYE: 6/30/2007

Statement 9 - Form 990 , Part V-A - List of Officers Directors . Trustees , and KeyEmployees continue

Name and AverageAddress Title Hours Compensation Benefits

JANE WINSLOW DIRECTOR 0 0 0915 BROADWAY, SUITE 1108NEW YORK NY 10010

9:06 AM

Expenses

0

9

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