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research dossier

WOMEN'S WORLD BANKING INC

NEW YORK, NY · EIN 822828138 · Form 990 · FY2024 · NTEE Q30 · International Affairs · Large ($10M-$50M)

revenue

$18.8M

expenses

$21.2M

net assets

$36.8M

employees

volunteers

program ratio

77%

mission · from form 990

THE MISSION OF WOMEN'S WORLD BANKING IS TO EXPAND THE ECONOMIC ASSETS, SEE SCHEDULE O

profile · synthesized from sources

Women's World Banking is a global nonprofit focused on expanding economic assets for women in low-income and underserved communities. It advances this mission by managing private equity investments in innovative financial institutions and businesses in emerging markets that serve women. The organization operates through investment strategies that aim to generate both financial returns and measurable economic empowerment outcomes.

irs program accomplishments · form 990 part iii · fy2024

What they reported doing

#1 primary $2.65M

WWB ASSET MANAGEMENT LLC MANAGES PRIVATE EQUITY INVESTMENTS IN GROWING BUSINESSES WITH INNOVATIVE SOLUTIONS THAT ENABLE WOMEN TO ACHIEVE ECONOMIC EMPOWERMENT AND RESILIENCE. WWB ASSET MANAGEMENT INVESTS IN INNOVATIVE COMPANIES IN EMERGING MARKETS THAT OFFER LOW-INCOME AND UNDERSERVED PEOPLE ACCESS TO FINANCE, SUPPLY CHAINS AND SOFTWARE SOLUTIONS THAT ENHANCE PRODUCTIVITY.

named programs · 1 · from sources

What they call their work

WWB Asset Management

Manages private equity investments in growing businesses and financial institutions in emerging markets that focus on women's economic empowerment and resilience, providing access to finance, supply chains, and productivity-enhancing software solutions.

activities · 8 groups

What they do

Women's Microenterprise and Livelihood Development 2 activities
- Designing and scaling women-centered financial solutions with financial institutions
  
  Partners with financial institutions across South Asia, Southeast Asia, and Africa to design, test, and scale financial products tailored to women’s needs and promote gender-inclusive financial systems.
- Expanding access to financial inclusion for women in emerging markets
  
  Reaches millions of women in emerging markets through financial inclusion programs that provide access to financial tools, stability, income, and opportunity; served over 118 million women and approximately 75 million men cumulatively by 2025–2026 through direct programming and partnerships.
SDG Advancement & Global Advocacy 1 activity
- Advocating for gender-inclusive financial policy at global forums
  
  Engages in global advocacy by contributing to international policy frameworks such as the G20 Policy Recommendations on Digital Public Infrastructure and the Global Partnership for Financial Inclusion’s Financial Inclusion Action Plan to advance women’s financial inclusion and economic empowerment.
Gender Equity Research and Advocacy 1 activity
- Conducting research to inform gender-inclusive financial policies and solutions
  
  Produces research, diagnostics, policy handbooks, and reports—such as the Reaching Financial Equality for Women report and the U.S. care economy white paper—to generate insights that shape financial products, regulations, and investment strategies focused on women’s economic inclusion.
Leadership Development Programs 1 activity
- Delivering leadership and capacity-building programs for financial sector leaders
  
  Offers structured training programs—including a six-month program for financial regulators and a multi-week program for government officials—to build expertise in inclusive finance, technology, and women’s financial inclusion; has trained over 350 regulators from more than 60 countries.
Women's Rights and Empowerment Grants 1 activity
- Funding financial services providers to serve women sustainably
  
  Awards grants and financial support to financial services providers to strengthen their capacity to deliver sustainable financial services to low-income women in emerging markets.
Impact Investing Knowledge & Technology Platforms 1 activity
- Managing private equity investments to advance women's economic empowerment
  
  Manages a diversified portfolio of private equity investments in high-performing, women-focused financial institutions and growing businesses in emerging markets to demonstrate the investment case for gender-inclusive finance while achieving positive returns.
Podcast and Radio Production 1 activity
- Producing public education content on women's financial inclusion
  
  Produces a podcast series featuring expert discussions on challenges and solutions related to women’s financial inclusion, aimed at raising awareness and sharing knowledge.
Women's Empowerment and Leadership Development 1 activity
- Supporting financial institutions through technical assistance and network collaboration
  
  Provides technical support and facilitates collaboration within a global network of financial services providers to help them acquire, activate, drive usage of, and retain women customers through improved financial offerings and practices.

financials · form 990 · fy2024

revenue

Total revenue$18.76M

Contributions & grants$13.00M69%

Program service revenue$2.51M13%

Investment income$3.24M17%

Other revenue$1K

expenses

Total expenses$21.22M

Program expenses77%

Admin / overhead8%

Fundraising15%

Salaries & benefits$13.76M

Grants paid out$244K

Largest expense lineCompensation

balance sheet

Total assets$38.27M

Cash$14.02M

Investments$22.59M

Liabilities$1.51M

Net assets$36.76M

Liquid reserves20.7 mo

5 years on record · 2020–2024 · YoY revenue -20.7%

leadership · form 990 part vii · fy2024

Who runs it

paid leadership · 16

Name	Title	Hours/wk	Compensation
MARY ELLEN ISKENDERIAN	PRESIDENT AND CEO	40	$566K
J THOMAS JONES	COO, EVP AND SECRETARY	40	$514K
CHRISTINA JUHASZ	MANAGING PARTNER, WAM	40	$370K
LESLIE WETZEL	CHIEF DEVELOPMENT OFFICER	40	$358K
HARSHA RODRIGUES	EVP, HEAD OF CLIENT SERVICES	40	$337K
FRANCESCA KRIST	GLOBAL HEAD OF EXTERNAL AFFAIRS	40	$279K
TAHARAH ISA	GLOBAL HEAD, HUMAN RESOURCES	40	$263K
ELISABETH BALLREICH	PRINCIPAL INVESTMENT OFFICER, WAM	40	$262K
SONJA KELLY	GLOBAL HEAD OF WWB INSTITUTE	40	$258K
CHRISTINA MAYNES	REGIONAL HEAD,SOUTHEAST ASIA	40	$249K
GIL LACSON	DIRECTOR, NETWORK ENGAGEMENT	40	$244K
MARINA DIMOVA	DIRECTOR, STRATEGIC PARTNERS	40	$211K
KALPANA AJAYAN	REGIONAL HEAD, SOUTH ASIA	40	$205K
CARLOS HORNILLOS-DALISME	CFO & TREASURER (AS OF 5/01/24)	40	$191K
KRISTINA SCHWARTZ	GEN COUNSEL,ASST. SEC.(AS OF 4/29/24)	40	$188K
STEPHANIE WELTY	CFO (UNTIL 5/10/24)	30	$78K

board members · 9

ANIQA SANDHU — DIRECTOR
ATALANTI MOQUETTE — DIRECTOR
DUNE THORNE — DIRECTOR
EMER DOOLEY — DIRECTOR (UNTIL 3/27/24)
INEKE BUSSEMAKER — DIRECTOR
JANET TRUNCALE — BOARD CHAIR
MARTIN IHRIG — DIRECTOR
MICHAEL USEEM — DIRECTOR
MUNA SUKHTIAN — DIRECTOR

relationships · 25

Who they work with

74 financial services providers Network — Network members collaborating to advance women's financial inclusion through shared learning and capacity building.
Alliance for Financial Inclusion Partner — Jointly developed the Regulatory Toolkit for Enhanced Digital Financial Inclusion of Macro, Small and Medium Enterprises.
Bank of Baroda Partner — Co-launched the Jan Dhan Plus program to expand financial inclusion through digital public infrastructure.
EY Partner — Sponsors the Making Finance Work for Women Podcast.
Elevandi Partner — Engages in international collaborations on technology innovation, application, and adoption in financial services
G20 Government — Engages with G20 initiatives and presidencies to shape global financial inclusion policy, including under India and Indonesia’s leadership.
Giving Women Partner — Network of women supporting social-change projects to improve the lives of vulnerable girls and women through non-financial support
Global Center for Sustainable Digital Finance Partner — Jointly leads the Tech Policy Learning Lab with Women's World Banking.
Global Partnership for Financial Inclusion Partner — Collaborates on policy development and advocacy for financial inclusion, including the G20 Financial Inclusion Action Plan and regulatory toolkits.
International Monetary Fund Partner — Partnered with Women's World Banking to deliver the Leadership Development Program for Regulators.
Invicta Partner — Collaboration referenced through quote from Eden Tadesse, CEO of Invicta in Ethiopia, supporting Women’s World Banking’s mission.
Korea Advanced Institute of Science and Technology Partner — Member institution of the Global Center for Sustainable Digital Finance, co-leading the Tech Policy Learning Lab.
Point Zero Forum Partner — Collaborates on impactful experiences and innovative programs related to financial technology and policy dialogue
Saïd Business School at the University of Oxford Partner — Academic partner for the Leadership Development Program for Regulators.
Stanford University Partner — Member institution of the Global Center for Sustainable Digital Finance, co-leading the Tech Policy Learning Lab.
Stichting to Promote Women's World Banking Partner — Provides financial support to Women's World Banking Inc. for its programs advancing women's financial inclusion.
Swiss State Secretariat For Economic Affairs (SECO) Funder — Funding partner for the Tech Policy Learning Lab.
Swiss State Secretariat for Economic Affairs (SECO) Funder — Funding partner for the Leadership Development Program for Regulators.
University of Zurich Partner — Member institution of the Global Center for Sustainable Digital Finance, co-leading the Tech Policy Learning Lab.
Visa Foundation Funder — Funder of the Leadership Development Program for Regulators.
WWB ASSET MANAGEMENT LLC Partner — Entity through which Women's World Banking manages private equity investments in support of women's economic empowerment.
We-Fi Partner — Works with financial service providers, regulators, and development banks to increase funding for women-led MSMEs globally
Women of the World Endowment Partner — Integrated WoWE's mission and portfolio to expand gender lens investing and scale impact.
Women’s World Banking Asset Management (WAM) Partner — Invests through direct equity to advance women in the workplace and as customers, promoting financial security and prosperity.
financial services providers Partner — Partners with financial services providers to deliver new or enhanced financial products and services to women.

strategies · 5

How they approach the work

Named approaches extracted from this org’s sources. Where others share an approach, follow it to see the full set of orgs running it.

Evidence-Based Policy Advisory for Gender-Intentional Regulation

methodology: evidence_based_policy_advisory
By generating evidence from field programs and training regulators with a gender lens, we enable inclusive policy change because actionable data and institutional learning drive systemic reform in financial regulation.
Gender-Intentional Institutional Strengthening

methodology: gender_intentional_institutional_strengthening
By strengthening financial institutions with gender-disaggregated data and advisory services, we scale women-centered financial solutions because institutional capacity and data-driven design are critical to sustainable inclusion.
Gender-Lens Investing to Demonstrate Financial Viability

methodology: investment_case_demonstration
By investing in women-focused financial institutions and women-led businesses, we attract further capital because proving financial returns shifts market perceptions and unlocks scalable investment for gender equality.
Inclusive Innovation in Financial Technology

methodology: inclusive_innovation
By designing digital financial products and technologies with women’s needs in mind, we expand access and trust because intentionally inclusive innovation ensures women benefit equitably from financial advances.
Transforming Financial Access into Economic Resilience

methodology: transformative_use_of_finance
By focusing on how women use financial tools—not just access—we build resilience and grow livelihoods because transformative use leads to sustained economic participation and decision-making power.