Independent Auditors’ Reports as Required by Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards and Government Auditing Standards and Related Information

This document consists of the independent auditors' reports for the World Resources Institute (WRI) and its subsidiaries for the fiscal years ending September 30, 2023, and 2022. The reports, conducted by Grant Thornton LLP, provide an unmodified opinion on the consolidated financial statements and compliance with major federal programs, while identifying a significant deficiency in the internal controls used to prepare the Schedule of Expenditures of Federal Awards (SEFA).

• Grant Thornton LLP issued an unmodified opinion on the consolidated financial statements of the World Resources Institute and Subsidiaries for the years ended September 30, 2023 and 2022, stating they present fairly, in all material respects, the financial position and changes in net assets.
• The Institute's total assets increased from $384,549,025 on September 30, 2022, to $533,266,191 on September 30, 2023, with cash and cash equivalents rising to $139,386,499.
• For the fiscal year ended September 30, 2023, the Institute reported total operating revenues of $250,310,049 and total operating expenses of $235,185,176.
• The Institute's net assets with donor restrictions totaled $451,175,458 as of September 30, 2023, with the largest portion restricted for 'Food, forests, water, and ocean' at $206,389,691.
• The auditors identified a significant deficiency (Finding 2023-001) regarding the internal controls for preparing the Schedule of Expenditures of Federal Awards (SEFA). Errors included the inclusion of two fixed-priced contracts totaling $517,792 and one vendor relationship totaling $115,000 that should have been excluded.
• Total federal expenditures for the year ended September 30, 2023, were $12,686,321, with the largest share coming from the U.S. Agency for International Development at $6,906,014.
• The Institute adopted new accounting guidance for leases (ASC 842) effective October 1, 2022, resulting in the recognition of $20,263,498 in operating lease right-of-use assets and $23,057,768 in operating lease liabilities as of September 30, 2023.
• The Institute maintains a donor-restricted endowment with a cost basis of $25,183,000 as of September 30, 2023, with a board-approved annual draw of 4.25% for the 2023 fiscal year.

APA

World Resources Institute (2023). Independent Auditors’ Reports as Required by Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards and Government Auditing Standards and Related Information. https://files.wri.org/d8/s3fs-public/2024-07/wri-fy23-audit-a133.pdf

Chicago

World Resources Institute. Independent Auditors’ Reports as Required by Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards and Government Auditing Standards and Related Information. 2023. https://files.wri.org/d8/s3fs-public/2024-07/wri-fy23-audit-a133.pdf.

Wikipedia

{{cite report |author=World Resources Institute |title=Independent Auditors’ Reports as Required by Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards and Government Auditing Standards and Related Information |date=30 September 2023 |url=https://files.wri.org/d8/s3fs-public/2024-07/wri-fy23-audit-a133.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{worldresourcesinstitute2023independent, author = {{World Resources Institute}}, title = {{Independent Auditors’ Reports as Required by Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards and Government Auditing Standards and Related Information}}, institution = {World Resources Institute}, year = {2023}, month = sep, url = {https://files.wri.org/d8/s3fs-public/2024-07/wri-fy23-audit-a133.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }