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Foreign Trade Association FY2020 filing

Not tax-deductible

Redondo Beach, CA501(c)(6)Mutual / membership EIN 95-0743100Revenue $123K in FY2020

On file with the IRSforeigntradeassociation.com210 Yacht Club Way, 90277-2049 · Redondo Beach, CATax-exempt since Apr 1945

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The Association holds educatinal events, conferences, customs brokers classes, seminars, and webinars for u.s. Trade programs re. Trade law, rulings, and regulations. Its signature events include sponsored world Trade week programs.

501(c)(6) business league; gifts are not tax-deductible as charitable contributions.
43¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(6)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 5
filings with a surplus
Average surplus $9K a year · 9% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
43%
of spending
Concern: 43% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
4 mo
of spending, in cash
Plus $89K in investments, Pt X · Ln 11–13
Looks good: 3.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$25
0.02% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
18
of 18 voting members
Looks good: 18 of 18 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$123K
Spent
$85K
To programs
43%
Net assets
$132K
By yearFY2020–FY2024
Revenue
$123K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$123K
FY2021$128K
FY2022$101K
FY2023$81K
FY2024$61K
Expenses
$85K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$85K
FY2021$102K
FY2022$133K
FY2023$51K
FY2024$76K
Net assets
$132K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$132K
FY2021$144K
FY2022$116K
FY2023$148K
FY2024$134K

From the FY2020 Form 990 · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Apr 1945.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

43 cents of each dollar spent went to programs.

Program services 43% · $37K Management & general 57% · $48K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

15 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Michael Roll
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Cathy Thrasher
1st Vice President
$0Pt VII · Sec A
Bruce Leeds
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
See Foreign Trade Association executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Educates on trade law, rulings, and regulations through events, classes, and webinars.

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Provided by the organization

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1 program · $37K · in their own filed words · FY2020
01

To promote, foster, and encourage international commerce and economic growth in southern california and worldwide. To educate, stimulate interest in international trade and business. To conduct educational courses, seminars, webinars, to cooperate with members in matters of international trade, and to publish and outsource, since 2013…

$37Kprogram expense

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$123K
Ln 12
Gifts and grantsLn 1h$80K
Fees for servicesLn 2g$43K
Investment incomeLn 3$181
Money outPt IX
$85K
Ln 25
Programscol B$37K
Managementcol C$48K
Owns and owesPt X
$132K
net assets · Ln 32
Cash and savingsLn 1–2$25K
Total assetsLn 16$132K
LiabilitiesLn 26$25
PeoplePt VI, VII
15
listed · VII A
PaidVII A0
Voting boardVI 1a18
IndependentVI 1b18
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$80K
Fees for servicesLn 2g$43K
Investment incomeLn 3$181
Total revenueLn 12$123K
Assets in detailPt X, end of year
CashLn 1$25K
Cash and savings togetherLn 1–2$25K
InvestmentsLn 11–13$89K
Other assetsLn 15$2K
Total assetsLn 16$132K
LiabilitiesLn 26$25
Net assetsLn 32$132K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$28K$25K
InvestmentsLn 11–13$106K$89K
Total assetsLn 16$162K$132K
LiabilitiesLn 26$58K$25
Net assetsLn 32$105K$132K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$62K$31K$31K
Other fees for servicesLn 11g$1K$1K
Office expensesLn 13$418$418
InsuranceLn 23$670$670
Other expenses (24a–d)Ln 24$18K$6K$12K
All other expensesLn 24e$3K$3K
Total functional expensesLn 25$85K$37K$48K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $61K$76K−$15K$134K 990 PDF
FY2023 $81K$51K$30K$148K 990 PDF
FY2022 $101K$133K−$32K$116K 990 PDF
FY2021 $128K$102K$26K$144K 990 PDF
FY2020 Viewing $123K$85K$37K$132K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $122,721 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $37,630$79,910
I-9 Program service revenuePrior year $69,384$42,630
I-10 Investment incomePrior year $3,453$181
I-11 Other revenuePrior year −$2,616$0
I-12 Total revenuePrior year $107,851$122,721
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $171,211$85,261
I-18 Total expensesPrior year $171,211$85,261
I-19 Revenue less expensesPrior year −$63,360$37,460
Part VI · Governance 18 of 18 board members independent, 1 to look at
VI-1a Voting members of the governing body18
VI-1b Independent voting members18
VI-13 Written whistleblower policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $122,721 across 5 lines filed
VIII-1b Membership dues$79,910
VIII-1h Total contributions, gifts and grants$79,910
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $42,630$42,630
VIII-3 Investment incomeExcluded from tax $181$181
VIII-12 Total revenueRelated to mission $42,630 · Unrelated business $0 · Excluded from tax $181$122,721
Part IX · Statement of functional expenses $85,261 across 6 lines filed
IX-11a Management feesPrograms $31,127 · Management $31,127$62,254
IX-11g Other fees for servicesManagement $1,050$1,050
IX-13 Office expensesManagement $418$418
IX-23 InsuranceManagement $670$670
IX-24 Other expenses (24a–d)Programs $5,952 · Management $12,183$18,135
IX-24e All other expensesManagement $2,734$2,734
IX-25 Total functional expensesPrograms $37,079 · Management $48,182 · Fundraising $0$85,261
Part X · Balance sheet $132,282 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $27,902$24,806
X-4 Accounts receivableStart of year $25,570$15,940
X-11 Publicly traded securitiesStart of year $106,174$89,411
X-15 Other assetsStart of year $2,663$2,125
X-16 Total assetsStart of year $162,309$132,282
X-17 Accounts payable and accrued expensesStart of year $57,634$25
X-26 Total liabilitiesStart of year $57,634$25
X-32 Total net assets or fund balancesStart of year $104,675$132,257
X-33 Total liabilities and net assetsStart of year $162,309$132,282
Part XI · Reconciliation of net assets $132,257 net assets at year end
XI-1 Total revenue$122,721
XI-2 Total expenses$85,261
XI-3 Revenue less expenses$37,460
XI-4 Net assets at start of year$104,675
XI-5 Net unrealized gains (losses) on investments$3,180
XI-8 Prior period adjustments−$13,058
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$132,257

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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