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Nonprofiteer
← FAIR FACTORIES CLEARINGHOUSE INC

Form 990 for tax year 2022

Filed by FAIR FACTORIES CLEARINGHOUSE INC.

Totals

Total revenue
$2,615,454
Total expenses
$2,742,819
Contributions and grants received
$292,288
Grants paid
$0
Program service revenue
$2,323,166
Investment income
$0
Other revenue
$0
Total assets, end of year
$879,029
Total liabilities, end of year
$1,059,617
Net assets or fund balances, end of year
-$180,588
Program services expenses (Part IX)
$2,000,435
Management and general expenses
$742,384
Fundraising expenses
$0
Program service expenses (Part III)
$2,000,435

Program services were 72.9% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1b · Membership dues

    $292,288

  • 2a · Program service revenue: Member Custom Services

    total $946,785 · related or exempt $946,785

  • 2b · Program service revenue: System Services

    total $682,005 · related or exempt $682,005

  • 2c · Program service revenue: Hosting and Support

    total $303,014 · related or exempt $303,014

  • 2d · Program service revenue: Factory Payments

    total $391,362 · related or exempt $391,362

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $355,194 · program services $103,169 · management and general $252,025

  • 7 · Other salaries and wages

    total $1,049,204 · program services $928,598 · management and general $120,606

  • 9 · Other employee benefits

    total $48,131 · program services $35,048 · management and general $13,083

  • 10 · Payroll taxes

    total $89,557 · program services $65,214 · management and general $24,343

  • 11b · Fees: legal

    total $161,651 · management and general $161,651

  • 11c · Fees: accounting

    total $63,475 · management and general $63,475

  • 13 · Office expenses

    total $14,057 · program services $13,301 · management and general $756

  • 14 · Information technology

    total $19,416 · management and general $19,416

  • 16 · Occupancy

    total $1,123 · management and general $1,123

  • 19 · Conferences, conventions and meetings

    total $4,044 · management and general $4,044

  • 20 · Interest

    total $2,679 · management and general $2,679

  • 22 · Depreciation, depletion and amortization

    total $3,440 · program services $3,440

  • 23 · Insurance

    total $43,383 · management and general $43,383

  • 24a · Other expenses: Hosting and Development

    total $692,659 · program services $691,576 · management and general $1,083

  • 24b · Other expenses: Amortization of Software

    total $86,059 · program services $86,059

  • 24c · Other expenses: Service Charges and Fees

    total $100,006 · program services $70,000 · management and general $30,006

  • 24d · Other expenses: Foreign Currency Transaction

    total $1,530 · program services $1,530

  • 24e · All other expenses

    total $7,211 · program services $2,500 · management and general $4,711

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $91,136 · end of year $242,065

  • 2 · Savings and temporary cash investments

    beginning of year $171,379 · end of year $222,077

  • 4 · Accounts receivable

    beginning of year $90,612 · end of year $217,124

  • 9 · Prepaid expenses and deferred charges

    beginning of year $11,532 · end of year $16,588

  • 10a · Land, buildings and equipment: cost or other basis

    $10,320

  • 10b · Land, buildings and equipment: accumulated depreciation

    $5,904

  • 10c · Land, buildings and equipment, net

    beginning of year $7,856 · end of year $4,416

  • 15 · Other assets

    beginning of year $262,611 · end of year $176,759

  • 17 · Accounts payable and accrued expenses

    beginning of year $345,323 · end of year $596,683

  • 19 · Deferred revenue

    beginning of year $272,488 · end of year $411,997

  • 23 · Secured mortgages and notes payable

    beginning of year $70,538 · end of year $50,937

  • 27 · Net assets without donor restrictions

    beginning of year -$53,223 · end of year -$180,588

Mission and programs · 2022

Mission

Our mission is to facilitate informed ethical business decisions for a better and more livable world. We build scalable software that facilitates continuous improvements in social, enviromental and security issues. This results in safer, more humane working conditions for workers

  • Provide software and services to individual member companies serious about supply chain compliance: Beenfits of the software include cost effective and configurable solutions tha can easily fit FFC to members existing processes.

    Expenses $1,020,220 · Revenue $303,014

  • Provide unique software and services to other non-profit organizations to help them better perform their missions: Benefit of this software is to amplify FFCs voice in new ways and in other industries. 10 clones of FFC technology have been implemented in the last 10 years.

    Expenses $860,187 · Revenue $946,785

  • Founding SLCP Acrredited host to help drive a single verified supplier self-assessment in the footwear and apparel industries: FFC invented a way to map a verified SLCP against a company supplier code of conduct automatically created a CAP.

    Expenses $120,028 · Revenue $391,362

As filed on the 2022 return.

Listed in Part VII

  • Sheetal Patel

    CTO

    Total calculated
    $185,615
    From this org
    $185,615
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $165,506
    Bonus
    $20,109
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $185,615

  • Peter Burrows

    ED and Vice Chair of Board

    Total calculated
    $146,250
    From this org
    $146,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Lynn Stevenson

    Customer Impact and Engagemen

    Total calculated
    $135,300
    From this org
    $135,300
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Timmy Langhill

    Account Manager

    Total calculated
    $122,501
    From this org
    $91,038
    From related orgs
    $0
    Other
    $31,463
    Hours/week
    40

  • Brendan McMahon

    SR Product QA Manager

    Total calculated
    $105,021
    From this org
    $105,021
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Marc-Ivar Magnus

    Board Member

    Total calculated
    $0
    Hours/week
    5

  • Jon Gold

    Board Member

    Total calculated
    $0
    Hours/week
    5

  • John Avallon

    Board Member

    Total calculated
    $0
    Hours/week
    5

  • Katy Lunardelli

    Board Member

    Total calculated
    $0
    Hours/week
    5

  • Dave Hogan

    Board Chair

    Total calculated
    $0
    Hours/week
    5

  • Mike Greene

    Board Treasurer

    Total calculated
    $0
    Hours/week
    5

  • Selcuk Buyukozer

    Board Secretary

    Total calculated
    $0
    Hours/week
    5

  • Mark Mcdonough

    CFO and Data Protection

    Total calculated
    $0
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
15 May 2023
IRS schema version
2022v5.0
Source object
202311319349306521

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