TY 2020 IRS 990 e-File Render

efile Public Visual Render ObjectId: 202123139349100947 - Submission: 2021-11-09 TIN: 45-5481499

TY 2020 IRS 990 e-File Render

Name:

FAIRTRADE INTERNATIONAL USA INC

EIN:

45-5481499

Identifier	Return Reference	Explanation
FAIRTRADE INTERNATIONAL USA NAME	PAGE 1, NAME BOX	THE ORGANIZATION HAS BEEN OPERATING UNDER THE NAME FAIRTRADE INTERNATIONAL USA, INC. FOR A NUMBER OF YEARS. HOWEVER, ITS LEGAL NAME IS FAIRTRADE AMERICA UNITED. THE ORGANIZATION INTENDS TO CHANGE ITS NAME TO FAIRTRADE INTERNATIONAL USA, INC. IN THE UPCOMING YEAR.
TRANSFER OF INCOME TO A DISQUALIFIED PERSON	PART VII-B, LINES 1B AND 1C	DURING THE CURRENT YEAR, IT WAS DISCOVERED THAT THE ORGANIZATION'S FORMER DIRECTOR OF FINANCE AND ADMINISTRATION HAD BEEN EMBEZZLING FUNDS OVER A SIX-YEAR PERIOD, WHICH IS WHY LINES 1B AND 1C OF PART VII-B HAVE BEEN CHECKED. THE INDIVIDUAL IS BEING PROSECUTED, BUT THE PROCESS IS NOT YET COMPLETE. IT IS ESTIMATED THAT THE EMBEZZLEMENT TOTALS APPROXIMATELY $272,000. THE ORGANIZATION HAS RECEIVED $25,000 (MAXIMUM PAYMENT FOR EMPLOYEE THEFT COVERAGE) FROM ITS INSURANCE COMPANY, AND WILL SEEK RESTITUTION, TO THE EXTENT POSSIBLE, FROM THE INDIVIDUAL INVOLVED.