Skip to content
Nonprofiteer
← FAIR FACTORIES CLEARINGHOUSE INC

Form 990 for tax year 2023

Filed by FAIR FACTORIES CLEARINGHOUSE INC.

Totals

Total revenue
$3,035,776
Total expenses
$1,938,811
Contributions and grants received
$687,131
Grants paid
$0
Program service revenue
$962,281
Investment income
$1,386,364
Other revenue
$0
Total assets, end of year
$916,377
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$916,377
Program services expenses (Part IX)
$1,306,639
Management and general expenses
$632,172
Fundraising expenses
$0
Program service expenses (Part III)
$1,306,639

Program services were 67.4% 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

    $687,131

  • 2a · Program service revenue: Project Income

    total $203,282 · related or exempt $203,282

  • 2b · Program service revenue: Factory Payments

    total $235,827 · related or exempt $235,827

  • 2c · Program service revenue: Custom Development

    total $523,172 · related or exempt $523,172

  • 3 · Investment income

    total $5,864 · related or exempt $5,864

  • 7a · Gross sales of assets other than inventory

    other assets $1,380,500

  • 7c · Gain or loss

    other assets $1,380,500

  • 7d · Net gain or loss

    total $1,380,500 · related or exempt $1,380,500

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $275,579 · program services $80,044 · management and general $195,535

  • 7 · Other salaries and wages

    total $671,012 · program services $593,879 · management and general $77,133

  • 9 · Other employee benefits

    total $47,710 · program services $34,741 · management and general $12,969

  • 10 · Payroll taxes

    total $82,035 · program services $59,737 · management and general $22,298

  • 11b · Fees: legal

    total $166,309 · management and general $166,309

  • 11c · Fees: accounting

    total $38,763 · management and general $38,763

  • 11g · Fees: other

    total $5,749 · management and general $5,749

  • 17 · Travel

    total $1,451 · management and general $1,451

  • 19 · Conferences, conventions and meetings

    total $29,568 · management and general $29,568

  • 20 · Interest

    total $10,878 · management and general $10,878

  • 22 · Depreciation, depletion and amortization

    total $1,638 · program services $1,638

  • 23 · Insurance

    total $31,181 · management and general $31,181

  • 24a · Other expenses: Hosting and Development

    total $398,912 · program services $398,912

  • 24b · Other expenses: Amortization of Software

    total $51,326 · program services $51,326

  • 24c · Other expenses: SAC Service Charges

    total $86,362 · program services $86,362

  • 24e · All other expenses

    total $40,338 · management and general $40,338

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $242,065 · end of year $214,199

  • 2 · Savings and temporary cash investments

    beginning of year $222,077 · end of year $450,864

  • 4 · Accounts receivable

    beginning of year $217,124 · end of year $214,082

  • 9 · Prepaid expenses and deferred charges

    beginning of year $16,588 · end of year $37,232

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

    $10,320

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

    $10,320

  • 10c · Land, buildings and equipment, net

    beginning of year $4,416

  • 15 · Other assets

    beginning of year $176,759

  • 17 · Accounts payable and accrued expenses

    beginning of year $596,683

  • 19 · Deferred revenue

    beginning of year $411,997

  • 23 · Secured mortgages and notes payable

    beginning of year $50,937

  • 27 · Net assets without donor restrictions

    beginning of year -$180,588 · end of year $916,377

Mission and programs · 2023

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 $666,385 · Revenue $190,921

  • 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 $561,855 · Revenue $535,533

  • 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 $78,399 · Revenue $235,827

As filed on the 2023 return.

Listed in Part VII

  • Sheetal Patel

    CTO

    Total calculated
    $170,865
    From this org
    $170,865
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $170,865
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $170,865

  • Peter Burrows

    ED and Vice Chair of Board

    Total calculated
    $127,813
    From this org
    $127,813
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Lynn Stevenson

    Customer Impact and Engagemen

    Total calculated
    $122,538
    From this org
    $122,538
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Mark Mcdonough

    CFO and Data Protection

    Total calculated
    $104,992
    From this org
    $104,992
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Brendan McMahon

    SR Product QA Manager

    Total calculated
    $81,922
    From this org
    $81,922
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Timmy Langhill

    Account Manager

    Total calculated
    $65,055
    From this org
    $65,055
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Jon Gold

    Board Member

    Total calculated
    $0
    Hours/week
    5

  • Marc-Ivar Magnus

    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

  • Selcuk Buyukozer

    Board Secretary

    Total calculated
    $0
    Hours/week
    5

  • Mike Greene

    Board Treasurer

    Total calculated
    $0
    Hours/week
    5

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
2023
Filed
8 May 2024
IRS schema version
2023v5.1
Source object
202411729349300721

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.