The 2011 Tax return for IFFOR has been filed and our friend George Kirikos of Leap.com found it. (iffor-form990-2011)
So the tax return is important for two purpose, first to see how the non-profit which is suppose to receive $10 for each .XXX registration spent the money and second to see how much money ICM the registry operator of the .XXX TLD actually paid to IFFOR.
So as for IFFOR, tax return for 2011 shows revenue of just $208,000.
It also shows “deferred revenue” of $326,000 (money owned but not yet received)
It shows compensation of officers and directors of IFFOR in the amount of $130,000, or roughly 65% of collected revenue and another $100,000 in travel which again we would assume is mostly if not fully for officers and directors or IFFOR plus another $37K in conferences.
There is also another $60K in a Board of Directors Stipend, Policy council Stipend of $37K.
As far as following its mission statement only $20,000 was spent on “content labeling” which is of course is one of the main missions and purpose of the entire organization.
As far directors go Joan Irvin who was the Director received $130K in compensation, Clyde Beattie received $32K and Sebastien Bachollet who received $26K.
In all IFFOR the organization had a loss in 2011 of $333,000 (all due to non-receipt of the “deferred income”)
Now as for the for what the these numbers mean as far as the .XXX registry is concerned?
My understanding is that of the $62 wholesale cost for each .XXX domain registration, ICM gets $50, IFFOR gets $10 and ICANN gets $2.
According to the report ICM filed with ICANN, as of December 2011, there were 106,549 .XXX domain name registered, not including the 80,000 10 year blocks sold to trademark holders.
That should have generated some $1,006,000 for IFFOR.
However IFFOR says the only got $208,000 of that with another $326,00 is “deferred Income”
So anyway you slice it, of the $1,006,000 that ICM collected ($10 per registration) for the non-profit IFFOR, ICM only paid $208,000and if it owes IFFOR another $326K then they ICM is paying IFFOR just over 50% of the money they collected for IFFOR.
What happened to the rest of the money?
The question is why IFFOR hasn’t said a peep (publicly) about being underpaid $800K or $500K (depending on what deferred revenue means) from ICM nor have the filed a lawsuit for the underpayment.…
