International Trade & Forfaiting Association Co Format-A AG

Nonprofit profile at a glance

EIN
981523660
IRS 990 coverage
2024–2025
Forms available
Form 990 2025
Location
Montvale, NJ, USA
Phone
2013078500
Rating
57
Verdict
MIXED
Rating confidence
Moderate
Sector
Chambers of Commerce & Business Leagues

Reported finances

Revenue
$1,699,209
Expenses
$1,692,054
Assets
$1,728,613
Liabilities
$290,703

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

11 people listed

People named in this filing

  • Sean Edwards (Chairman)
  • Lorna Pillow (Board member)
  • Andre Casterman (Board Member)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

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.

What it reported doing in 2025

Committee Work (Insurance, Regional, Fintech, Market Practice, Emerging Leaders, and ESG Committees).

Operating model

Revenue model
Other-operating. 65% of the money available for current operations came from other operating revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

MIXED - Most voting board members are independent and program spending has grown recently. The filing reports few safeguards for money sent abroad and the filing does not identify recipients for some grant dollars.

Rating breakdown

  • Financial Efficiency: 55
  • Transparency & Controls: 50
  • Accountability: 76
  • Sustainability: 40
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 62.2%; rating input score 62
  • Program expense ratio: 62%; rating input score 62
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Scored; rating input score 0
  • Grant itemization coverage: Scored; rating input score 0
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 0.4%; rating input score 32; 32nd percentile among comparable filings
  • Total-asset coverage ratio: 1.02; rating input score 44; 44th percentile among comparable filings
  • Liabilities to assets ratio: 0.17; rating input score 28; 28th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 78; 78th percentile among comparable filings

Growth

  • Program expense growth: 15.3% per year; rating input score 100; 71st percentile among comparable filings
  • Revenue growth: -0.6% per year; rating input score 0; 10th percentile among comparable filings
  • Asset growth: 9.9% per year; rating input score 100; 55th percentile among comparable filings

Details

  • Where the money goes: 62.2% of revenue deployed · 62% of spending went to programs
  • Governance: 11 of 11 board members independent · 3 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $1M in reported program spending
  • Leadership: top reported pay $0 · 11 people listed
  • Consistency: 17 of 17 current checks pass
  • Schedules: 4 filed schedules · includes foreign activity
  • Filing history: 2 filing years from 2024 to 2025
  • Contacts: How to reach this organization
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Transparency & Controls: Foreign activity oversight scored 0/100.
  • High — Transparency & Controls: Grant itemization coverage scored 0/100.
  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 32/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 44/100.
  • High — Sustainability: Liabilities to assets ratio scored 28/100.