Civic Intelligence

International Trade & Forfaiting

EIN 98-1523660 • 501(c)6 • Montvale, NJ

Profile

ITFA is the worldwide trade association for companies, financial institutions and intermediaries engaged in global trade, forfaiting, supply chain and receivables financing. It supports and offers education to members, acting as a valuable forum for its members to interact.

C/O Beacon CPA 50 Chestnut Ridge RdMontvale, NJ 07645

itfa.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

54th percentile

0.19x

Higher debt load relative to assets than 54% of similar nonprofits.

NTEE S41 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

53rd percentile

0.18x

Higher debt load relative to revenue than 53% of similar nonprofits.

NTEE S41 • $1M-$5M nonprofits • Source year 2024

Net Margin

73rd percentile

16%

Higher net margin than 73% of similar nonprofits.

NTEE S41 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

25th percentile

$0

Higher top officer pay than 25% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

NTEE S41 • $1M-$5M nonprofits • Source year 2024

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2024

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2024

Assets

$1,566,063

No earlier filing loaded for comparison.

Liabilities

$302,097

No earlier filing loaded for comparison.

Net Assets

$1,263,966

No earlier filing loaded for comparison.

Revenue

$1,708,846

No earlier filing loaded for comparison.

Expenses

$1,442,264

No earlier filing loaded for comparison.

Net Income

$266,582

No earlier filing loaded for comparison.

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$2.0M$1.5M$1.0M$500K$0Assets 2024: $1,566,063Liabilities 2024: $302,097Net Assets 2024: $1,263,9662024

Highlighted filing

2024

Assets$1,566,063
Liabilities$302,097
Net Assets$1,263,966

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$2.0M$1.5M$1.0M$500K$0Revenue 2024: $1,708,846Expenses 2024: $1,442,264Net Income 2024: $266,5822024

Highlighted filing

2024

Revenue$1,708,846
Expenses$1,442,264
Net Income$266,582

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.57$0.30$1.26$1.71$1.44$0.27
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 13, 2025
Return Version
2024v5.2
Gross Receipts
$1,708,846
Mission and Program Overview

Mission

ITFA is the worldwide trade association for companies, financial institutions and intermediaries engaged in global trade, forfaiting, supply chain and receivables financing. It supports and offers education to members, acting as a valuable forum for its members to interact.

International Trade & Forfaiting Association (ITFA) is a trade association working with banks, financial institutions and service providers involved in trade risk and asset origination and distribution.

Balance Sheet Detail
LineBeginningEndChange
Assets
Pd in Cap Srpls Land Bldg Eqp Fund$1,052,800$1,263,966▲ $211,166
Cash and Non-Interest-Bearing Accounts$476,039$741,190▲ $265,151
Savings and Temporary Cash Investments$693,847$697,289▲ $3,442
Accounts Receivable$13,488$51,409▲ $37,921
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$1,204,666$1,566,063▲ $361,397
Other Assets Total$21,292$76,175▲ $54,883
Liabilities
Accounts Payable and Accrued Expenses$125,905$277,163▲ $151,258
Other Liabilities$25,961$24,934▼ $1,027
Total Liabilities$151,866$302,097▲ $150,231
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,052,800$1,263,966▲ $211,166
Total Liabilities and Net Assets / Fund Balance$1,204,666$1,566,063▲ $361,397
Compensation and Service Providers

Board Members and Trustees

NameTitle
Sean EdwardsChairman
Andre CastermanBoard Member
Chris HallBoard Member
Duarte PedreiraBoard Member
Johanna WissingBoard Member
Lorna PillowBoard member
Lynn GalwoskiBoard Member
Paul ColesBoard Member
Silja CalacBoard Member
Simon CookBoard Member
Zhang MeiBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$524,550
Program Service Revenue
$775,906
Investment Income
$23,732
Other Revenue
$384,658
Change in Net Assets
$266,582

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,708,846
Total Revenue per Audited Statements
$1,708,846
Total Revenue per Form 990
$1,708,846
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,442,264
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Conferences and Meetings$498,136--$498,136
All Other Expenses$153,204$111,540-$264,744
Fees for Services Accounting-$90,036-$90,036
Travel-$86,270-$86,270
Other Expenses$80,083$99,325-$80,083
Total Functional Expenses$900,246$542,018$0$1,442,264

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,442,264
Total Expenses per Audited Statements$1,442,264
Total Expenses per Form 990$1,442,264
International Activity

International Summary

Offices
1
Employees
2
Spending
$521,209

International Compliance

Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
Southern EuropeMemb. Ben./ Committee SupportSee Client Notes00$335,142
SwitzerlandMemb. Ben./ Committee SupportNo activity in 202412$90,035
Great BritainMemb. Ben./ Committee SupportSee Client Notes00$71,902
The AmericasMemb. Ben./ Committee SupportHHOF Event (Canada)00$8,831
SingaporeMemb. Ben./ Committee SupportSEARC Event (Singapore)00$4,625
SwedenMemb. Ben./ Committee SupportNERC Event (Stockholm)00$3,005
Northern EuropeMemb. Ben./ Committee SupportSee Client Notes00$2,633
GermanyMemb. Ben./ Committee SupportGRC Event (Dsseldorf)00$2,276
Australia/ New ZealandMemb. Ben./ Committee SupportANZRC Event (Australia)00$2,258
UaeMemb. Ben./ Committee SupportMERC get together (Dubai)00$502
ChinaMemb. Ben./ Committee SupportNo activity in 202400$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
In-house lobbying only
No
Subject to proxy tax
Yes
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Provision for Afore Advocacy$24,934
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
No
Backup withholding compliance
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

ITFA is a membership organization.

Form 990, Part VI, Section A, Line 7A

Members elect the Board at the annual general meeting.

Form 990, Part VI, Section A, Line 7B

Powers reserved to membership in General Meeting in addition to election of Board include amending governing document, election of Auditors, approval of annual accounts, setting limits on membership fees, deciding on the termination of the Association, and resolving matters brought to the General Meeting by the Board.

Form 990, Part VI, Section A, Line 9

Sean EdwardsWiesenstrasse 9Zurich, Switzerland 8008

Form 990, Part VI, Section B, Line 11B

ITFA's Form 990 was prepared by its accountants and reviewed by the Chairman in consultation with the Board.

Form 990, Part VI, Section C, Line 19

Information regarding ITFA's governing documents and financial statements is available upon request.

Filing and Contact Details

Filer

Filer Name
International Trade & Forfaiting
EIN
98-1523660
Phone
2013078500
Address
C/O Beacon CPA 50 Chestnut Ridge Rd, Montvale, NJ 07645

Signing Officer

Name
Sean Edwards
Title
Chairman
Signed
2025-11-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Sean Edwards
Formed
1999
Voting Board Members
11
Independent Board Members
11
Employees
0

Preparer

Firm
Beacon CPA PC
Address
425 Madison Avenue 9th Floor, New York, NY 10017
Preparer
Mark Ratafia CPA
Phone
2013078500
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 24E

Bank charges: Column (A) - Total = $20280; Column (B) - Program Services = $0; Column (C) - Management & General = $20280; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E

Charity Events: Column (A) - Total = $571; Column (B) - Program Services = $0; Column (C) - Management & General = $571; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E

Education: Column (A) - Total = $15109; Column (B) - Program Services = $15109; Column (C) - Management & General = $0; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E

Emerging Leaders: Column (A) - Total = $3873; Column (B) - Program Services = $3873; Column (C) - Management & General = $0; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E

ESG: Column (A) - Total = $30244; Column (B) - Program Services = $30244; Column (C) - Management & General = $0; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E

Fintech: Column (A) - Total = $19507; Column (B) - Program Services = $19507; Column (C) - Management & General = $0; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E

Insurance: Column (A) - Total = $705; Column (B) - Program Services = $0; Column (C) - Management & General = $705; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E

Loss on foreign exchange: Column (A) - Total = $9735; Column (B) - Program Services = $0; Column (C) - Management & General = $9735; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E

Market Practice: Column (A) - Total = $3771; Column (B) - Program Services = $3771; Column (C) - Management & General = $0; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E

MLAP: Column (A) - Total = $14345; Column (B) - Program Services = $14345; Column (C) - Management & General = $0; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E

Other America expenses: Column (A) - Total = $10312; Column (B) - Program Services = $0; Column (C) - Management & General = $10312; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E

Regulatory Advocacy Committee : Column (A) - Total = $66355; Column (B) - Program Services = $66355; Column (C) - Management & General = $0; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E

Tax consulting America: Column (A) - Total = $42614; Column (B) - Program Services = $0; Column (C) - Management & General = $42614; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E

Taxes: Column (A) - Total = $25973; Column (B) - Program Services = $0; Column (C) - Management & General = $25973; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E

Withholding tax USA: Column (A) - Total = $1350; Column (B) - Program Services = $0; Column (C) - Management & General = $1350; Column (D) - Fundraising = $0

Form 990, Part XI, Line 9

Foreign CURRENCY adjustment = -$55416

Form 990 Generally

The figures for income, expenses, assets, and liabilities have been derived from financial statements of the organization prepared in Euro. The Euro amounts for income and expenses have been translated to U.S. dollar amounts using an average rate of exchange for calendar year 2024 of 1.0812 U.S. dollars per Euro. The average rate of exchange is from the Federal Reserve Bank's table labeled "Foreign Exchange Rates -- G.5A Annual", which can be found at https://www.federalreserve.gov/releases/g5a/current/default.htm.The Euro amounts for assets, liabilities and retained earnings have been translated to U.S dollar amounts at the spot rate of 1.0389 U.S dollars per Euro as of December 31, 2024. This rate of exchange is from the European Central Bank which can be found at http://www.ecb.europa.eu/stats/eurofxref/

Statement Note 1

Sch F, Part 1, 3e - Northern Europe: SERC Event (Paris) and Insurance Event (Paris)Southern Europe: SERC Event (Madrid), SERC Event (Athens), Annual conference (Cyprus) and CEE Regional Annual Event Education (Ljubljana)Great Britain: NERC Chinese New Year Event, Christmas Party and Educational Event (London)

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IRS990/Organization501cInd0X
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IRS990/OtherAssetsTotalGrp/BOYAmt021292
IRS990/OtherAssetsTotalGrp/EOYAmt076175
IRS990/OtherChangesInNetAssetsAmt0-55416
IRS990/OtherEmployeeBenefitsGrp/TotalAmt00
IRS990/OtherExpensesGrp/Desc0Regulatory Advocacy Committee
IRS990/OtherExpensesGrp/Desc1Secreteriat / Membership
IRS990/OtherExpensesGrp/Desc2Communication / Website
IRS990/OtherExpensesGrp/Desc3Regional Committees
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt0154847
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt199325
IRS990/OtherExpensesGrp/ProgramServicesAmt0168823
IRS990/OtherExpensesGrp/ProgramServicesAmt180083
IRS990/OtherExpensesGrp/TotalAmt0168823
IRS990/OtherExpensesGrp/TotalAmt1154847
IRS990/OtherExpensesGrp/TotalAmt299325
IRS990/OtherExpensesGrp/TotalAmt380083
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IRS990/OtherRevenueMiscGrp/Desc0America's Regulatory Advocacy
IRS990/OtherRevenueMiscGrp/Desc1ESG Sponsoring
IRS990/OtherRevenueMiscGrp/Desc2Sponsoring Reg Advocacy (Afore
IRS990/OtherRevenueMiscGrp/ExclusionAmt059500
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IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt2202093
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IRS990/PrincipalOfficerNm0Sean Edwards
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IRS990/ProgramServiceRevenueGrp/Desc0America conf. revenue
IRS990/ProgramServiceRevenueGrp/Desc1Annual Conference
IRS990/ProgramServiceRevenueGrp/Desc2Books
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0171776
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1588888
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IRS990/PYRevenuesLessExpensesAmt0-90266
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IRS990ScheduleF/AccountActivitiesOutsideUSGrp/EmployeeCnt02
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IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTotalExpendituresAmt5502
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTotalExpendituresAmt60
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTotalExpendituresAmt72633
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTotalExpendituresAmt8335142
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IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt0Switzerland
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt1The Americas
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt2Sweden
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt3Australia/ New Zealand
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt4Germany
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt5UAE
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt6China
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt7Northern Europe
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt8Southern Europe
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt9Singapore
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt10Great Britain
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/SpecificServicesProvidedTxt0No activity in 2024
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/SpecificServicesProvidedTxt1HHOF Event (Canada)
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/SpecificServicesProvidedTxt2NERC Event (Stockholm)
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/SpecificServicesProvidedTxt3ANZRC Event (Australia)
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/SpecificServicesProvidedTxt4GRC Event (Dsseldorf)
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/SpecificServicesProvidedTxt5MERC get together (Dubai)
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/SpecificServicesProvidedTxt6No activity in 2024
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/SpecificServicesProvidedTxt7See Client Notes
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/SpecificServicesProvidedTxt8See Client Notes
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/SpecificServicesProvidedTxt9SEARC Event (Singapore)
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/SpecificServicesProvidedTxt10See Client Notes
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt0Memb. Ben./ Committee Support
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt1Memb. Ben./ Committee Support
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt2Memb. Ben./ Committee Support
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt3Memb. Ben./ Committee Support
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt4Memb. Ben./ Committee Support
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt5Memb. Ben./ Committee Support
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt6Memb. Ben./ Committee Support
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt7Memb. Ben./ Committee Support
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt8Memb. Ben./ Committee Support

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