Fair Factories Clearinghouse Inc
- Assets
- $635.1k
- Revenue
- $2.1m
- Investments
- $0.0
- Employees
- 14
- Location
- Lexington, MA
- Founding
- 02/2006
- Data as of
- 12/2021
- EIN
- 20-1930681
Organization Overview
Fair Factories Clearinghouse Inc is located in Lexington, MA. The organization was established in 2006. According to its NTEE Classification (R01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Civil Rights, Social Action & Advocacy and related organizations. As of 12/2021, Fair Factories Clearinghouse Inc employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fair Factories Clearinghouse Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Fair Factories Clearinghouse Inc generated $2.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.9% each year. All expenses for the organization totaled $2.3m during the year ending 12/2021. While expenses have increased by 6.0% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE AND FURTHER HUMAN RIGHTS AND IMPROVED WORKING CONDITIONS FOR FACTORY WORKERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE SOFTWARE AND SERVICES TO INDIVIDUAL MEMBER COMPANIES SERIOUS ABOUT SUPPLY CHAIN COMPLIANCE: BENEFITS OF THE SOFTWARE INCLUDE COST EFFECTIVE AND CONFIGURABLE SOLUTIONS THAT CAN EASILY FIT FFC TO MEMBER'S EXISTING PROCESSES. IN THE CURRENT YEAR, WE IMPLEMENTED 50,000 SUPPLIER AUDITS IN 150 COUNTRIES AND 20 MILLION WORKERS.
PROVIDE UNIQUE SOFTWARE AND SERVICES TO OTHER NON-PROFIT ORGANIZATIONS TO HELP THEM BETTER PERFORM THEIR MISSIONS: BENEFIT OF THIS SOFTWARE IS TO AMPLIFIY FFC'S VOICE IN NEW WAYS AND IN OTHER INDUSTRIES. 10 CLONES OF FFC TECHNOLOGY HAVE BEEN IMPLEMENTED IN THE LAST TEN YEARS.
FOUNDING SLCP ACCREDITED 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 CREATING A "CAP". 900 SLCP ASSESSMENTS WERE COMPLETED BY SUPPLIERS USING FFC AND 13 BRANDS ARE IMPLEMENTING OR ARE ALREADY USING FFC CODE OF CONDUCT MAPPING.
REMOTE AUDIT SHARING AND JOINT REMEDIATION AMONG BRANDS WITHOUT INCREASING ANTI-TRUST RISKS: FFC'S PATENTED SHARING AND COLLABORATION PLATFORM HELPS PARTICIPANTS THAT SHARE THE SAME SUPPLIERS CONDUCT JOINT REMEDIATION. SO FAR, 5,000 AUDITS HAVE BEEN SHARED, AND THIS IS EXPECTED TO GROW WITH SLCP.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sheetal Patel Cto | Officer | 40 | $178,180 |
Peter Burrows Ed And Vice Chair Of Board | OfficerTrustee | 40 | $130,000 |
Brendan Mcmahon St Product Qa Manager | 40 | $104,654 | |
Lynn Stevenson Customer Impact And Engagement Officer | Officer | 40 | $84,000 |
Mark Mcdonough CFO And Data Protection | Officer | 40 | $72,570 |
Selcuk Buyukozer Board Secretary | OfficerTrustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Extreme Digital Solution Software Development | 12/30/21 | $447,350 |
Sungard Availability Services Data Center Services And Support | 12/30/21 | $169,104 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $220,634 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $156,621 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $377,255 |
| Total Program Service Revenue | $1,739,284 |
| Investment income | $319 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,116,858 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $286,570 |
| Compensation of current officers, directors, key employees. | $202,570 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $769,478 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $18,379 |
| Payroll taxes | $88,578 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $48,997 |
| Fees for services: Accounting | $77,635 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $1,065 |
| Information technology | $5,357 |
| Royalties | $0 |
| Occupancy | $550 |
| Travel | $367 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $3,520 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,634 |
| Insurance | $44,741 |
| All other expenses | $4,417 |
| Total functional expenses | $2,287,219 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $91,136 |
| Savings and temporary cash investments | $171,379 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $90,612 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $11,532 |
| Net Land, buildings, and equipment | $7,856 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $262,611 |
| Total assets | $635,126 |
| Accounts payable and accrued expenses | $345,323 |
| Grants payable | $0 |
| Deferred revenue | $272,488 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $70,538 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $688,349 |
| Net assets without donor restrictions | -$53,223 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $635,126 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Fair Factories Clearinghouse Inc has recieved totaling $49,002.
| Awarding Organization | Amount |
|---|---|
University Of Delaware Newark, DE PURPOSE: FEASABILITY STUDY | $49,002 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Economic Security Project Inc New York, NY | $8,566,805 | $9,565,463 |
Womens March Inc Brooklyn, NY | $718,292 | $3,624,981 |
Jerome Levy Foundation New York, NY | $40,571,361 | $1,886,136 |
Studentsfirst New York Inc New York, NY | $2,677,249 | $1,921,916 |
Fair Factories Clearinghouse Inc Lexington, MA | $635,126 | $2,116,858 |
All Out Action Fund Inc Long Island City, NY | $2,179,491 | $2,419,145 |
Bagly Inc Boston, MA | $1,258,862 | $2,003,712 |
Be A Hero Action Fund Providence, RI | $533,156 | $1,176,328 |
Free Press Action Fund Florence, MA | $823,216 | $847,721 |
Ai For The People Brooklyn, NY | $234,428 | $877,490 |
Oxfam America Action Fund Inc Boston, MA | $698,027 | $785,636 |
Death Penalty Action Ghent, NY | $5,645 | $424,043 |