TIN:
SCHEDULE O
(Form 990 or 990-EZ)
Department of the Treasury
Internal Revenue Service
(Form 990 or 990-EZ)
Department of the Treasury
Internal Revenue Service
Supplemental Information to Form 990 or 990-EZ
Complete to provide information for responses to specific questions on
Form 990 or 990-EZ or to provide any additional information.
Attach to Form 990 or 990-EZ.
Go to www.irs.gov/Form990 for the latest information.
OMB No. 1545-0047
2019
Open to Public
Inspection
Inspection
Name of the organization
WORLD COFFEE RESEARCH
Employer identification number
45-3982583
45-3982583
| Return Reference | Explanation |
|---|---|
| Form 990, Part VI, Line 11b: Form 990 Review Process | FORM 990 IS REVIEWED BY THE CHAIR AND TREASURER. |
| Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts | WCR HAS A CONFLICT OF INTEREST POLICY AND AN ANTITRUST COMPLIANCE POLICY. THE COMPLIANCE POLICY IS READ AT THE BEGINNING OF EACH BOARD MEETING AND MEMBERS ARE ASKED TO AGREE. |
| Form 990, Part VI, Line 19: Other Organization Documents Publicly Available | DOCUMENTS AVAILABLE TO PUBLIC UPON REQUEST. |
| Other Changes In Net Assets Or Fund Balances - Other Decreases | PLEDGES RECEIVABLE DEEMED UNCOLLECTIBLE = -$138210 |
| Form 990, Part XII, Line 2: Change of Oversight or Selection Process | NEITHER THE PROCESS FOR OVERSIGHT OF THE FINANCIAL STATEMENT AUDIT NOR THE PROCESS FOR SELECTION OF AN INDEPENDENT ACCOUNTANT HAS CHANGED FROM THE PRIOR YEAR. |
| AMENDMENT OF FORM 5471 SCHEDULE H - CURRENT EARNINGS AND PROFITS | FORM 5471 SCHEDULE H - CURRENT EARNINGS AND PROFITS WAS INADVERTENTLY MISSTATED. AS WORLD COFFEE RESEARCH VALUES TRANSAPARENCY IT IS REVISING THE SCHEDULE. LINE 1, CURRENT YEAR NET INCOME WAS UPDATED TO REFELECT THE CURRENT YEAR NET LOSS PER FOREIGN BOOKS OF ACCOUNT OF -178,051. SINCE THE NET LOSS PRESENTED IS IN EUROS, THE AVERAGE EXCHANGE RATE USED TO CONVERT TO US DOLLARS WAS ENTERED PER LINE 5D. NO OTHER CHANGES WERE MADE TO THIS SCHEDULE. |
| AMENDMENT TO FORM 5471 SCHEDULE C - INCOME STATEMENT | FORM 5471 SCHEDULE C - INCOME STATEMENT WAS INADVERTENTLY MISSTATED. AS WORLD COFFEE RESEARCH VALUES TRANSAPARENCY IT IS REVISING THE SCHEDULE TO: A) INCLUDE THE INCOME STATEMENT FIGURES IN FUNCTIONAL CURRENCY (EURO) AND THE US DOLLAR EQUIVALENT (WHICH WAS TRANSLATED USING US GAAP TRANSLATION RULES). IN THE PREVIOUS FORM 5471 - SCHEDULE C FILED, THE US DOLLAR (RATHER THAN THE EURO) WAS INADVERTENTLY CONSIDERED AS THE FUNCTIONAL CURRENCY AND THUS THE FUNCTIONAL CURRENCY COLUMN WAS NOT COMPLETED. B) PRESENT THE STANDALONE INCOME STATEMENT FIGURES FOR WORLD COFFEE RESEARCH EUROPE FOR THE 12-MONTH PERIOD ENDED 12/31/2019. IN THE PREVIOUS FORM 5471 - SCHEDULE C FORM FILED, WORLD COFFEE RESEARCH EUROPE FIGURES WERE THOSE INCLUDED IN THE CONSOLIDATED FINANCIAL STATEMENTS OF WORLD COFFEE RESEARCH AND EXCLUDED INTERCOMPANY TRANSACTIONS. NO OTHER CHANGES WERE MADE TO THIS SCHEDULE. |
| AMENDMENT TO FORM 5471 SCHEDULE F - BALANCE SHEET | FORM 5471 SCHEDULE F - BALANCE SHEET WAS INADVERTENTLY MISSTATED. AS WORLD COFFEE RESEARCH VALUES TRANSAPARENCY IT IS REVISING THE SCHEDULE TO INCLUDE THE STANDALONE FINANCIAL STATEMENT BALANCES OF WORLD COFFEE RESEARCH EUROPE AS OF DECEMBER 31, 2019. IN THE PREVIOUS FORM 5471 - SCHEDULE F FILED, THE FIGURES PRESENTED WERE THOSE INCLUDED IN THE CONSOLIDATED FINANCIAL STATEMENTS OF WORLD COFFEE RESEARCH AND EXCLUDED INTERCOMPANY BALANCES. A) AS A RESULT OF THE REVISION, THE FOLLOWING INTERCOMPANY BALANCES WERE INCLUDED IN THE BALANCE SHEET: 1) LINE 2A INTERCOMPANY ACCOUNTS RECEIVABLE: 49,892, 2) LINE 16 OTHER CURRENT LIABILITIES - INTERCOMPANY: 188,879, 3) LINE 19 OTHER NON-CURRENT LIABILITIES - INTERCOMPANY: 245,889. B) BECAUSE OF THE CHANGES MADE TO FORM 5471 - SCHEDULE C - INCOME STATEMENT, THE RETAINED EARNINGS TOTAL WAS UPDATED AS FOLLOWS: LINE 22 RETAINED EARNINGS WAS REVISED TO: -19,842. THE ABOVE BALANCE WAS DETERMINED AS FOLLOWS: 2019 NET LOSS OF WCR EUROPE PER FORM 5471 - SCHEDULE C, LINE 22: -199,377 (+) 2018 RETAINED EARNINGS (NET INCOME) PER WORLD COFFEE RESEARCH EUROPE STANDALONE FINANCIAL STATEMENTS: 183,289 (+) CUMULATIVE TRANSLATION ADJUSTMENT: -3,754 NO OTHER CHANGES WERE MADE TO THIS SCHEDULE. |
| AMENDMENT TO FORM 5471 SCHEDULE M - TRANSACTIONS CFC AND SHAREHOLDERS | FORM 5471 SCHEDULE M WAS INADVERTENTLY LEFT BLANK IN THE PRIOR VERSION OF FORM 5471 FILED. AS WORLD COFFEE RESEARCH VALUES TRANSAPARENCY IT IS COMPLETING THE FORM BY INCLUDING THE TRANSACTIONS BETWEEN WORLD COFFEE RESEARCH EUROPE (FOREIGN CORPORATION) AND WORLD COFFEE RESEARCH (PERSON FILING THIS FORM) AS FOLLOWS: LINE 6 - COMPENSATION RECEIVED: 514,632; LINE 28 - AMOUNTS BORROWED: 434,768; LINE 29 - ACCOUNTS RECEIVABLE: 49,892. NO OTHER CHANGES WERE MADE TO THIS SCHEDULE. |
| AMENDMENT TO FORM 990 SCHEDULE R - PART IV, RELATED ORGANIZATIONS | FORM 5471 SCHEDULE C - INCOME STATEMENT AND FORM 5471 SCHEDULE F WERE INADVERTENTLY MISSTATED. AS WORLD COFFEE RESEARCH VALUES TRANSAPARENCY IT IS REVISING FORM 990 - SCHEDULE R - PART IV (F) AND (G) AS FOLLOWS: (F) SHARE OF TOTAL INCOME WAS REVISED TO: -199,377 (G) SHARE OF END-OF-YEAR ASSETS WAS REVISED TO: 487,898. NO OTHER CHANGES WERE MADE TO FORM 990. |
| FORM 5471 SCHEDULE F - BALANCE SHEET | THE BALANCES INCLUDED PER COLUMN A) BEGINNING OF ANNUAL ACCOUNTING PERIOD WERE THOSE INCLUDED PER THE END OF ANNUAL ACCOUNTING PERIOD PER FORM 5471, SCHEDULE F, FILED FOR THE YEAR 2018. THESE BALANCES WERE PRESENTED ASSUMING THAT THE FUNCTIONAL CURRENCY OF WORLD COFFEE RESEARCH EUROPE WAS THE US DOLLAR AND EXCLUDE INTERCOMPANY BALANCES BETWEEN WORLD COFFEE RESEARCH AND WORLD COFFEE RESEARCH EUROPE (AS THESE WERE ELIMINATED IN THE CONSOLIDATION OF FINANCIAL STATEMENTS). FOR COMPARABILITY PURPOSES WITH THE STANDALONE PRESENTATION OF FORM 5471 IN 2019, BELOW WE PROVIDE THE EFFECT THAT PRESENTING STANDALONE BALANCES WOULD HAVE IN THE 2018 BALANCE SHEET COLUMN A) BEGINNING OF ANNUAL ACCOUNTING PERIOD: LINE 2A, INTERCOMPANY ACCOUNTS RECEIVABLE: 54,818 LINE 13, OTHER ASSETS: 174,950 LINE 14, TOTAL ASSETS: 300,772 OTHER NON-CURRENT LIABILITIES: 0 RETAINED EARNINGS (2018 NET INCOME): 183,396 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY: 300,772 |
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 51056K
Schedule O (Form 990 or 990-EZ) 2019
Additional Data
| Software ID: | 19009923 |
| Software Version: | 2019v5.0 |