Trace International Inc
- Assets
- $10.7m
- Revenue
- $5.6m
- Investments
- $0.0
- Employees
- 41
- Location
- Annapolis, MD
- Founding
- 02/2003
- Data as of
- 12/2023
- EIN
- 65-1162716
Organization Overview
Trace International Inc is located in Annapolis, MD. The organization was established in 2003. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Trace International Inc employed 41 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Trace International Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2023, Trace International Inc generated $5.6m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (4.0%) each year. All expenses for the organization totaled $6.1m during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (2.6%) per year over the past 9 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Trace International Inc has awarded 21 individual grants totaling $4,234,950. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE 0
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROGRAM-1: ONLINE COMPLIANCE TRAINING: IN 2023, TRACE WON THREE (3) BRANDON HALL GROUP AWARDS FOR OUR ELEARNING INCLUDING ONE GOLD TECHNOLOGY EXCELLENCE LEARNING AND DEVELOPMENT TECHNOLOGY AWARD IN THE BEST ADVANCE IN LEARNING MANAGEMENT TECHNOLOGY FOR COMPLIANCE TRAINING CATEGORY, ONE GOLD HUMAN CAPITAL MANAGEMENT (HCM) EXCELLENCE LEARNING AND DEVELOPMENT AWARD IN THE BEST ADVANCE IN COMPLIANCE TRAINING CATEGORY, AND ONE SILVER HUMAN CAPITAL MANAGEMENT (HCM) EXCELLENCE LEARNING AND DEVELOPMENT AWARD IN THE BEST LEARNING TEAM CATEGORY. TRACE ALSO RELEASED AN UPDATED CURRICULUM IN 2023 FOR ITS TRACEPRO ADVANCED COMPLIANCE TRAINING AND PROFESSIONAL DEVELOPMENT PROGRAM WHICH MORE THAN DOUBLED THE NUMBER OF MEMBER COMPANY ENROLLMENTS, FROM 21 IN 2022 TO 46 IN 2023. ADDITIONALLY, TRACE RELEASED UPDATED/NEW ELEARNING CONTENT IN THE FOLLOWING TOPIC AREAS IN 2023 FORCED LABOR & HUMAN TRAFFICKING, ANTI-CORRUPTION, SANCTIONS, CONFLICTS OF INTEREST, HOW TO SAY NO TO BRIBES, ANTITRUST, SHIPPING AND LOGISTICS, RESPECT IN THE WORKPLACE, ANTI-MONEY LAUNDERING, TRADE & EXPORT CONTROLS.TRACE HOSTED 22 VIRTUAL WEBINARS ON VARIOUS COMPLIANCE-RELATED TOPICS (E.G. ADDRESSING CORRUPTION RISK IN VARIOUS INDUSTRIES AND COUNTRIES, FCPA YEAR-IN-REVIEW, ETC.). EACH WEBINAR HAD AN AVERAGE ATTENDANCE OF 33 PARTICIPANTS
PROGRAM -2: LIVE MEMBER SUPPORT:IN AN EFFORT TO IMPROVE OUR LIVE MEMBER SUPPORT SERVICES AND OVERALL MEMBER RETENTION, TRACE HIRED ADDITIONAL MULTILINGUAL MEMBER SERVICES ASSOCIATES AND APPOINTED A NEW DEDICATED SENIOR DIRECTOR OF MEMBER SERVICES. THE INVESTMENT IN THIS TEAM ENABLED TRACE TO PROVIDE GREATER CUSTOMER SERVICE WITH MORE FREQUENT MEMBER OUTREACH AND CONTACT, DEPLOY ADDITIONAL MEMBER SURVEYS, AND SUPPORT MORE STRATEGY CALLS. ADDITIONALLY, THE ENHANCED TEAM HAS BEEN ABLE TO WORK WITH GREATER AUTONOMY AND CONTRIBUTE TO ORGANIZATION-WIDE EFFORTS TO IMPROVE OUR OPERATIONAL PROCESSES AND EFFICIENCY.
PROGRAM-3: GLOBAL EVENTS:FORUM EVENTS: TRACE HELD TWO ANNUAL FORUM EVENTS IN 2023 FOR CORPORATE MEMBERS: A TWO (2) DAY IN-PERSON FORUM WAS HELD IN MARCH (66 ONSITE ATTENDEES AND SPEAKERS), AND A TWO (2) DAY IN-PERSON FORUM WAS HELD IN OCTOBER IN LONDON, UK (70 ONSITE ATTENDEES AND SPEAKERS). THERE WAS NO CHARGE FOR PARTICIPATION. WE ALLOWED ONE REPRESENTATIVE PER MEMBER COMPANY AND ONE REPRESENTATIVE TO THE WAIT LIST. SPEAKERS AND ATTENDEES AT EACH EVENT INCLUDED ENFORCEMENT OFFICIALS, SENIOR LEVEL COMPLIANCE EXECUTIVES, AND OUTSIDE COUNSEL. PANEL DISCUSSIONS PROVIDED ATTENDEES WITH PRACTICAL COMPLIANCE GUIDANCE AND FACILITATED BENCHMARKING. ROUNDTABLE EVENT: TRACE HOSTED AN EXECUTIVE ROUNDTABLE IN SINGAPORE IN MAY (13 ATTENDEES AND SPEAKERS). FURTHER ROUNDTABLES WERE NOT PLANNED. THIS ROUNDTABLE FACILITATED BENCHMARKING AMONG SENIOR LEVEL COMPLIANCE EXECUTIVES FROM TRACE CORPORATE MEMBER COMPANIES. THERE WAS NO CHARGE FOR TRACE MEMBERS TO ATTEND.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alexandra Wrage President | OfficerTrustee | 40 | $1,076,520 |
Bapsy Dastur Board Member | Trustee | 1 | $0 |
Lee Nelson Board Member | Trustee | 1 | $0 |
Andrea Lo Gaglio Board Member | Trustee | 1 | $0 |
Hentie Dirker Board Member | Trustee | 1 | $0 |
Robert Clark Manager, Legal Research | 40 | $148,768 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| 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 | $0 |
| Total Program Service Revenue | $5,280,584 |
| Investment income | $287,077 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$6,267 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,594,369 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $348,894 |
| 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. | $1,349,138 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,240,617 |
| Pension plan accruals and contributions | $184,752 |
| Other employee benefits | $184,021 |
| Payroll taxes | $228,471 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $8,576 |
| Fees for services: Accounting | $20,579 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $17,797 |
| Fees for services: Other | $246,389 |
| Advertising and promotion | $31,574 |
| Office expenses | $20,146 |
| Information technology | $325,576 |
| Royalties | $0 |
| Occupancy | $158,964 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $125,493 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $59,522 |
| Insurance | $36,330 |
| All other expenses | $51,413 |
| Total functional expenses | $6,063,427 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $478,753 |
| Savings and temporary cash investments | $759,917 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $974,397 |
| 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 | $130,650 |
| Net Land, buildings, and equipment | $32,803 |
| Investments—publicly traded securities | $5,890,606 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $40,873 |
| Other assets | $2,439,206 |
| Total assets | $10,747,205 |
| Accounts payable and accrued expenses | $253,059 |
| Grants payable | $0 |
| Deferred revenue | $3,343,307 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,266,775 |
| Total liabilities | $5,863,141 |
| Net assets without donor restrictions | $4,884,064 |
| 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 | $10,747,205 |
Grants Awarded
Over the last fiscal year, Trace International Inc has awarded $315,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
TRACE FOUNDATION PURPOSE: GENERAL SUPPORT | $300,000 |
INTERNATIONAL CENTER FOR JOURNALISTS PURPOSE: SPONSORSHIP - TRIBUTE TO JOURNALISTS | $15,000 |