The World Assembly of Youth recognises the Universal Declaration of Human Rights as the basis of its action and services. WAY promotes the work of youth organisations in areas such as: democracy, environment, human rights, population, health, drugs, community development, leadership training, and cultural and religious tolerance. It provides opportunities for youth representatives from different countries to exchange ideas and experiences, to coordinate program plans, and to reach a better understanding of each others' problems due to differences in racial, religious and national backgrounds.

Since its formation, WAY has increased its membership of national youth councils to the present 93 full members, from as many countries from all continents. Furthermore WAY has 7 associated members and 22 organizations of observer status.

The regional structure of the National Youth Councils in all the continents, Asian Youth Council, European Youth Forum, Caribbean Youth Forum, Forum for the Integration of Adean Youth, Pacific Youth Council, Arab Youth Union, Pan-African Youth Union, African-Arab Youth Council, SADC Youth Movement, are consultative memebrs.

As the international coordinating body of national youth councils, WAY has consultative status 1 with the United Nations system, the highest status possible for a non-governmental organization. WAY co-operates with the UN and many of its special agencies, particularly with UNESCO, the UNFPA and the WHO.

WAY's funding is based on membership fees and other contributions from members. WAY's different projects has been funded by various UN agencies, government aid agencies and private foundations.