﻿<?xml version="1.0" encoding="utf-8"?>
<Return xmlns="http://www.irs.gov/efile" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" returnVersion="2024v5.0">
  <ReturnHeader binaryAttachmentCnt="0">
    <ReturnTs>2025-07-23T13:55:55-04:00</ReturnTs>
    <TaxPeriodEndDt>2024-12-31</TaxPeriodEndDt>
    <PreparerFirmGrp>
      <PreparerFirmEIN>521913349</PreparerFirmEIN>
      <PreparerFirmName>
        <BusinessNameLine1Txt>FRANK HAJEK &amp; ASSOCIATES PA</BusinessNameLine1Txt>
      </PreparerFirmName>
      <PreparerUSAddress>
        <AddressLine1Txt>25 W COURTLAND ST STE 101</AddressLine1Txt>
        <CityNm>BEL AIR</CityNm>
        <StateAbbreviationCd>MD</StateAbbreviationCd>
        <ZIPCd>210143782</ZIPCd>
      </PreparerUSAddress>
    </PreparerFirmGrp>
    <ReturnTypeCd>990</ReturnTypeCd>
    <TaxPeriodBeginDt>2024-01-01</TaxPeriodBeginDt>
    <Filer>
      <EIN>273271490</EIN>
      <BusinessName>
        <BusinessNameLine1Txt>INTERNATIONAL CREDIT AND TRADE</BusinessNameLine1Txt>
        <BusinessNameLine2Txt>FINANCE ASSOCIATION</BusinessNameLine2Txt>
      </BusinessName>
      <BusinessNameControlTxt>INTE</BusinessNameControlTxt>
      <PhoneNum>4105225013</PhoneNum>
      <USAddress>
        <AddressLine1Txt>1820 LANCASTER ST STE 200</AddressLine1Txt>
        <CityNm>BALTIMORE</CityNm>
        <StateAbbreviationCd>MD</StateAbbreviationCd>
        <ZIPCd>21231</ZIPCd>
      </USAddress>
    </Filer>
    <BusinessOfficerGrp>
      <PersonNm>ANETA SPILMAN</PersonNm>
      <PersonTitleTxt>PRESIDENT</PersonTitleTxt>
      <PhoneNum>4105225013</PhoneNum>
      <SignatureDt>2025-07-21</SignatureDt>
      <DiscussWithPaidPreparerInd>true</DiscussWithPaidPreparerInd>
    </BusinessOfficerGrp>
    <IRSResponsiblePrtyInfoCurrInd>false</IRSResponsiblePrtyInfoCurrInd>
    <PreparerPersonGrp>
      <PreparerPersonNm>JEFFREY G TOLLEY</PreparerPersonNm>
      <PTIN>P01351558</PTIN>
      <PhoneNum>4108932083</PhoneNum>
      <PreparationDt>2025-07-23</PreparationDt>
    </PreparerPersonGrp>
    <TaxYr>2024</TaxYr>
    <BuildTS>2025-03-06 01:10:19Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCnt="6">
    <IRS990 documentId="RetDoc1" referenceDocumentId="RetDoc5">
      <AddressChangeInd>X</AddressChangeInd>
      <PrincipalOfficerNm>ANETA SPILMAN</PrincipalOfficerNm>
      <USAddress>
        <AddressLine1Txt>1820 LANCASTER ST STE 200</AddressLine1Txt>
        <CityNm>BALTIMORE</CityNm>
        <StateAbbreviationCd>MD</StateAbbreviationCd>
        <ZIPCd>21231</ZIPCd>
      </USAddress>
      <GrossReceiptsAmt>925356</GrossReceiptsAmt>
      <GroupReturnForAffiliatesInd>false</GroupReturnForAffiliatesInd>
      <Organization501cInd organization501cTypeTxt="6">X</Organization501cInd>
      <WebsiteAddressTxt>ICTFWORLD.ORG</WebsiteAddressTxt>
      <TypeOfOrganizationCorpInd>X</TypeOfOrganizationCorpInd>
      <FormationYr>2010</FormationYr>
      <LegalDomicileStateCd>DE</LegalDomicileStateCd>
      <ActivityOrMissionDesc>IS TO ADVANCE THE PROFESSION OF INTERNATIONAL CREDIT MANAGEMENT BY PROVIDING UNMATCHED EXPERTISE, LEADERSHIP, POWERFUL CONNECTIONS, LEADING EDGE EDUCATION AND SERVICES, AND A FORUM FOR THE EXCHANGE OF INFORMATION AND BEST PRACTICES.</ActivityOrMissionDesc>
      <VotingMembersGoverningBodyCnt>9</VotingMembersGoverningBodyCnt>
      <VotingMembersIndependentCnt>9</VotingMembersIndependentCnt>
      <TotalEmployeeCnt>3</TotalEmployeeCnt>
      <TotalVolunteersCnt>17</TotalVolunteersCnt>
      <TotalGrossUBIAmt>0</TotalGrossUBIAmt>
      <PYContributionsGrantsAmt>469532</PYContributionsGrantsAmt>
      <CYContributionsGrantsAmt>449943</CYContributionsGrantsAmt>
      <PYProgramServiceRevenueAmt>397724</PYProgramServiceRevenueAmt>
      <CYProgramServiceRevenueAmt>423802</CYProgramServiceRevenueAmt>
      <PYInvestmentIncomeAmt>38888</PYInvestmentIncomeAmt>
      <CYInvestmentIncomeAmt>51611</CYInvestmentIncomeAmt>
      <CYOtherRevenueAmt>0</CYOtherRevenueAmt>
      <PYTotalRevenueAmt>906144</PYTotalRevenueAmt>
      <CYTotalRevenueAmt>925356</CYTotalRevenueAmt>
      <CYGrantsAndSimilarPaidAmt>0</CYGrantsAndSimilarPaidAmt>
      <CYBenefitsPaidToMembersAmt>0</CYBenefitsPaidToMembersAmt>
      <PYSalariesCompEmpBnftPaidAmt>319030</PYSalariesCompEmpBnftPaidAmt>
      <CYSalariesCompEmpBnftPaidAmt>332935</CYSalariesCompEmpBnftPaidAmt>
      <CYTotalProfFndrsngExpnsAmt>0</CYTotalProfFndrsngExpnsAmt>
      <CYTotalFundraisingExpenseAmt>0</CYTotalFundraisingExpenseAmt>
      <PYOtherExpensesAmt>487710</PYOtherExpensesAmt>
      <CYOtherExpensesAmt>557959</CYOtherExpensesAmt>
      <PYTotalExpensesAmt>806740</PYTotalExpensesAmt>
      <CYTotalExpensesAmt>890894</CYTotalExpensesAmt>
      <PYRevenuesLessExpensesAmt>99404</PYRevenuesLessExpensesAmt>
      <CYRevenuesLessExpensesAmt>34462</CYRevenuesLessExpensesAmt>
      <TotalAssetsBOYAmt>1427754</TotalAssetsBOYAmt>
      <TotalAssetsEOYAmt>1422946</TotalAssetsEOYAmt>
      <TotalLiabilitiesBOYAmt>269079</TotalLiabilitiesBOYAmt>
      <TotalLiabilitiesEOYAmt>229809</TotalLiabilitiesEOYAmt>
      <NetAssetsOrFundBalancesBOYAmt>1158675</NetAssetsOrFundBalancesBOYAmt>
      <NetAssetsOrFundBalancesEOYAmt>1193137</NetAssetsOrFundBalancesEOYAmt>
      <InfoInScheduleOPartIIIInd>X</InfoInScheduleOPartIIIInd>
      <MissionDesc>IS TO ADVANCE THE PROFESSION OF INTERNATIONAL CREDIT MANAGEMENT BY PROVIDING UNMATCHED EXPERTISE, LEADERSHIP, POWERFUL CONNECTIONS, LEADING EDGE EDUCATION AND SERVICES, AND A FORUM FOR THE EXCHANGE OF INFORMATION AND BEST PRACTICES.</MissionDesc>
      <SignificantNewProgramSrvcInd>false</SignificantNewProgramSrvcInd>
      <SignificantChangeInd>false</SignificantChangeInd>
      <ExpenseAmt>890894</ExpenseAmt>
      <RevenueAmt>925356</RevenueAmt>
      <Desc>SUPPORTING THE GOALS AND SERVING THE NEEDS OF ITS MEMBERS AND THE INTERNATIONAL BUSINESS COMMUNITY BY PROVIDING UNMATCHED EXPERTISE, LEADERSHIP, POWERFUL CONNECTIONS, AN INTERNATIONAL NETWORK, LEADING EDGE RESOURCES, PROGRAMS AND SERVICES TO GIVE A DISTINCT ADVANTAGE TO THOSE WHO STRIVE FOR EXCELLENCE AND IMPROVED PERFORMANCE.</Desc>
      <TotalProgramServiceExpensesAmt>890894</TotalProgramServiceExpensesAmt>
      <DescribedInSection501c3Ind>false</DescribedInSection501c3Ind>
      <ScheduleBRequiredInd>false</ScheduleBRequiredInd>
      <PoliticalCampaignActyInd referenceDocumentId="RetDoc2">false</PoliticalCampaignActyInd>
      <SubjectToProxyTaxInd referenceDocumentId="RetDoc2">true</SubjectToProxyTaxInd>
      <DonorAdvisedFundInd referenceDocumentId="RetDoc3">false</DonorAdvisedFundInd>
      <ConservationEasementsInd referenceDocumentId="RetDoc3">false</ConservationEasementsInd>
      <CollectionsOfArtInd referenceDocumentId="RetDoc3">false</CollectionsOfArtInd>
      <CreditCounselingInd referenceDocumentId="RetDoc3">false</CreditCounselingInd>
      <DonorRstrOrQuasiEndowmentsInd referenceDocumentId="RetDoc3">false</DonorRstrOrQuasiEndowmentsInd>
      <ReportLandBuildingEquipmentInd referenceDocumentId="RetDoc3">true</ReportLandBuildingEquipmentInd>
      <ReportInvestmentsOtherSecInd referenceDocumentId="RetDoc3">false</ReportInvestmentsOtherSecInd>
      <ReportProgramRelatedInvstInd referenceDocumentId="RetDoc3">false</ReportProgramRelatedInvstInd>
      <ReportOtherAssetsInd referenceDocumentId="RetDoc3">false</ReportOtherAssetsInd>
      <ReportOtherLiabilitiesInd referenceDocumentId="RetDoc3">true</ReportOtherLiabilitiesInd>
      <IncludeFIN48FootnoteInd referenceDocumentId="RetDoc3">false</IncludeFIN48FootnoteInd>
      <IndependentAuditFinclStmtInd referenceDocumentId="RetDoc3">false</IndependentAuditFinclStmtInd>
      <ConsolidatedAuditFinclStmtInd referenceDocumentId="RetDoc3">false</ConsolidatedAuditFinclStmtInd>
      <SchoolOperatingInd>false</SchoolOperatingInd>
      <ForeignOfficeInd>false</ForeignOfficeInd>
      <ForeignActivitiesInd referenceDocumentId="RetDoc6">true</ForeignActivitiesInd>
      <MoreThan5000KToOrgInd referenceDocumentId="RetDoc6">false</MoreThan5000KToOrgInd>
      <MoreThan5000KToIndividualsInd referenceDocumentId="RetDoc6">false</MoreThan5000KToIndividualsInd>
      <ProfessionalFundraisingInd>false</ProfessionalFundraisingInd>
      <FundraisingActivitiesInd>false</FundraisingActivitiesInd>
      <GamingActivitiesInd>false</GamingActivitiesInd>
      <OperateHospitalInd>false</OperateHospitalInd>
      <GrantsToOrganizationsInd>false</GrantsToOrganizationsInd>
      <GrantsToIndividualsInd>false</GrantsToIndividualsInd>
      <ScheduleJRequiredInd referenceDocumentId="RetDoc4">true</ScheduleJRequiredInd>
      <TaxExemptBondsInd>false</TaxExemptBondsInd>
      <LoanOutstandingInd>false</LoanOutstandingInd>
      <GrantToRelatedPersonInd>false</GrantToRelatedPersonInd>
      <BusinessRlnWithOrgMemInd>false</BusinessRlnWithOrgMemInd>
      <BusinessRlnWithFamMemInd>false</BusinessRlnWithFamMemInd>
      <BusinessRlnWith35CtrlEntInd>false</BusinessRlnWith35CtrlEntInd>
      <DeductibleNonCashContriInd>false</DeductibleNonCashContriInd>
      <DeductibleArtContributionInd>false</DeductibleArtContributionInd>
      <TerminateOperationsInd>false</TerminateOperationsInd>
      <PartialLiquidationInd>false</PartialLiquidationInd>
      <DisregardedEntityInd>false</DisregardedEntityInd>
      <RelatedEntityInd>false</RelatedEntityInd>
      <RelatedOrganizationCtrlEntInd>false</RelatedOrganizationCtrlEntInd>
      <ActivitiesConductedPrtshpInd>false</ActivitiesConductedPrtshpInd>
      <ScheduleORequiredInd>true</ScheduleORequiredInd>
      <IRPDocumentCnt>4</IRPDocumentCnt>
      <IRPDocumentW2GCnt>0</IRPDocumentW2GCnt>
      <EmployeeCnt>3</EmployeeCnt>
      <EmploymentTaxReturnsFiledInd>true</EmploymentTaxReturnsFiledInd>
      <UnrelatedBusIncmOverLimitInd>false</UnrelatedBusIncmOverLimitInd>
      <ForeignFinancialAccountInd>false</ForeignFinancialAccountInd>
      <ProhibitedTaxShelterTransInd>false</ProhibitedTaxShelterTransInd>
      <TaxablePartyNotificationInd>false</TaxablePartyNotificationInd>
      <NondeductibleContributionsInd>true</NondeductibleContributionsInd>
      <NondeductibleContriDisclInd>true</NondeductibleContriDisclInd>
      <IndoorTanningServicesInd>false</IndoorTanningServicesInd>
      <SubjToTaxRmnrtnExPrchtPymtInd>false</SubjToTaxRmnrtnExPrchtPymtInd>
      <SubjectToExcsTaxNetInvstIncInd>false</SubjectToExcsTaxNetInvstIncInd>
      <InfoInScheduleOPartVIInd>X</InfoInScheduleOPartVIInd>
      <GoverningBodyVotingMembersCnt>9</GoverningBodyVotingMembersCnt>
      <IndependentVotingMemberCnt>9</IndependentVotingMemberCnt>
      <FamilyOrBusinessRlnInd>false</FamilyOrBusinessRlnInd>
      <DelegationOfMgmtDutiesInd>false</DelegationOfMgmtDutiesInd>
      <ChangeToOrgDocumentsInd>false</ChangeToOrgDocumentsInd>
      <MaterialDiversionOrMisuseInd>false</MaterialDiversionOrMisuseInd>
      <MembersOrStockholdersInd>false</MembersOrStockholdersInd>
      <ElectionOfBoardMembersInd>true</ElectionOfBoardMembersInd>
      <DecisionsSubjectToApprovaInd>true</DecisionsSubjectToApprovaInd>
      <MinutesOfGoverningBodyInd>true</MinutesOfGoverningBodyInd>
      <MinutesOfCommitteesInd>true</MinutesOfCommitteesInd>
      <OfficerMailingAddressInd>false</OfficerMailingAddressInd>
      <LocalChaptersInd>false</LocalChaptersInd>
      <Form990ProvidedToGvrnBodyInd>true</Form990ProvidedToGvrnBodyInd>
      <ConflictOfInterestPolicyInd>true</ConflictOfInterestPolicyInd>
      <AnnualDisclosureCoveredPrsnInd>true</AnnualDisclosureCoveredPrsnInd>
      <RegularMonitoringEnfrcInd>false</RegularMonitoringEnfrcInd>
      <WhistleblowerPolicyInd>true</WhistleblowerPolicyInd>
      <DocumentRetentionPolicyInd>true</DocumentRetentionPolicyInd>
      <CompensationProcessCEOInd>true</CompensationProcessCEOInd>
      <CompensationProcessOtherInd>true</CompensationProcessOtherInd>
      <InvestmentInJointVentureInd>false</InvestmentInJointVentureInd>
      <StatesWhereCopyOfReturnIsFldCd>MD</StatesWhereCopyOfReturnIsFldCd>
      <StatesWhereCopyOfReturnIsFldCd>DE</StatesWhereCopyOfReturnIsFldCd>
      <UponRequestInd>X</UponRequestInd>
      <BooksInCareOfDetail>
        <PersonNm>ANETA SPILMAN</PersonNm>
        <PhoneNum>4105225013</PhoneNum>
        <USAddress>
          <AddressLine1Txt>1820 LANCASTER ST</AddressLine1Txt>
          <AddressLine2Txt>STE 200</AddressLine2Txt>
          <CityNm>BALTIMORE</CityNm>
          <StateAbbreviationCd>MD</StateAbbreviationCd>
          <ZIPCd>21231</ZIPCd>
        </USAddress>
      </BooksInCareOfDetail>
      <Form990PartVIISectionAGrp>
        <PersonNm>ANETA SPILMAN</PersonNm>
        <TitleTxt>PRESIDENT</TitleTxt>
        <AverageHoursPerWeekRt>40.00</AverageHoursPerWeekRt>
        <OfficerInd>X</OfficerInd>
        <ReportableCompFromOrgAmt>230492</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>WILLIAM BASTIAAN</PersonNm>
        <TitleTxt>DIRECTOR</TitleTxt>
        <AverageHoursPerWeekRt>1.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>RICHARD CLARK</PersonNm>
        <TitleTxt>DIRECTOR</TitleTxt>
        <AverageHoursPerWeekRt>1.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>RAUL DAVILA</PersonNm>
        <TitleTxt>CHAIRMAN</TitleTxt>
        <AverageHoursPerWeekRt>2.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <OfficerInd>X</OfficerInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>ANGELA HODGES</PersonNm>
        <TitleTxt>DIRECTOR</TitleTxt>
        <AverageHoursPerWeekRt>1.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>JENNY KING</PersonNm>
        <TitleTxt>DIRECTOR</TitleTxt>
        <AverageHoursPerWeekRt>1.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>NICK KING</PersonNm>
        <TitleTxt>VICE CHAIR</TitleTxt>
        <AverageHoursPerWeekRt>2.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <OfficerInd>X</OfficerInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>ALICE KNIGHT</PersonNm>
        <TitleTxt>TREASURER</TitleTxt>
        <AverageHoursPerWeekRt>2.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <OfficerInd>X</OfficerInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>DARIUSZ LACHOWSKI</PersonNm>
        <TitleTxt>DIRECTOR</TitleTxt>
        <AverageHoursPerWeekRt>1.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>TINA SORRELS</PersonNm>
        <TitleTxt>DIRECTOR</TitleTxt>
        <AverageHoursPerWeekRt>1.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <TotalReportableCompFromOrgAmt>230492</TotalReportableCompFromOrgAmt>
      <IndivRcvdGreaterThan100KCnt>1</IndivRcvdGreaterThan100KCnt>
      <FormerOfcrEmployeesListedInd>false</FormerOfcrEmployeesListedInd>
      <TotalCompGreaterThan150KInd>true</TotalCompGreaterThan150KInd>
      <CompensationFromOtherSrcsInd>false</CompensationFromOtherSrcsInd>
      <MembershipDuesAmt>260943</MembershipDuesAmt>
      <AllOtherContributionsAmt>189000</AllOtherContributionsAmt>
      <TotalContributionsAmt>449943</TotalContributionsAmt>
      <ProgramServiceRevenueGrp>
        <Desc>CONFERENCES</Desc>
        <TotalRevenueColumnAmt>206135</TotalRevenueColumnAmt>
        <ExclusionAmt>206135</ExclusionAmt>
      </ProgramServiceRevenueGrp>
      <ProgramServiceRevenueGrp>
        <Desc>E-LEARNING</Desc>
        <TotalRevenueColumnAmt>121475</TotalRevenueColumnAmt>
        <ExclusionAmt>121475</ExclusionAmt>
      </ProgramServiceRevenueGrp>
      <ProgramServiceRevenueGrp>
        <Desc>CREDIT AND COUNTRY REPORTS</Desc>
        <TotalRevenueColumnAmt>93328</TotalRevenueColumnAmt>
        <ExclusionAmt>93328</ExclusionAmt>
      </ProgramServiceRevenueGrp>
      <ProgramServiceRevenueGrp>
        <Desc>FOREST PRODUCTS</Desc>
        <TotalRevenueColumnAmt>3140</TotalRevenueColumnAmt>
        <ExclusionAmt>3140</ExclusionAmt>
      </ProgramServiceRevenueGrp>
      <ProgramServiceRevenueGrp>
        <Desc>DISCOUNTS</Desc>
        <TotalRevenueColumnAmt>-276</TotalRevenueColumnAmt>
        <ExclusionAmt>-276</ExclusionAmt>
      </ProgramServiceRevenueGrp>
      <TotalProgramServiceRevenueAmt>423802</TotalProgramServiceRevenueAmt>
      <InvestmentIncomeGrp>
        <TotalRevenueColumnAmt>51611</TotalRevenueColumnAmt>
        <RelatedOrExemptFuncIncomeAmt>51611</RelatedOrExemptFuncIncomeAmt>
      </InvestmentIncomeGrp>
      <TotalRevenueGrp>
        <TotalRevenueColumnAmt>925356</TotalRevenueColumnAmt>
        <RelatedOrExemptFuncIncomeAmt>51611</RelatedOrExemptFuncIncomeAmt>
        <ExclusionAmt>423802</ExclusionAmt>
      </TotalRevenueGrp>
      <OtherSalariesAndWagesGrp>
        <TotalAmt>303253</TotalAmt>
      </OtherSalariesAndWagesGrp>
      <PensionPlanContributionsGrp>
        <TotalAmt>10007</TotalAmt>
      </PensionPlanContributionsGrp>
      <PayrollTaxesGrp>
        <TotalAmt>19675</TotalAmt>
      </PayrollTaxesGrp>
      <FeesForServicesLegalGrp>
        <TotalAmt>16961</TotalAmt>
      </FeesForServicesLegalGrp>
      <FeesForServicesAccountingGrp>
        <TotalAmt>8730</TotalAmt>
      </FeesForServicesAccountingGrp>
      <AdvertisingGrp>
        <TotalAmt>89454</TotalAmt>
      </AdvertisingGrp>
      <OfficeExpensesGrp>
        <TotalAmt>935</TotalAmt>
      </OfficeExpensesGrp>
      <OccupancyGrp>
        <TotalAmt>1526</TotalAmt>
      </OccupancyGrp>
      <InsuranceGrp>
        <TotalAmt>15643</TotalAmt>
      </InsuranceGrp>
      <OtherExpensesGrp>
        <Desc>CONFERENCES</Desc>
        <TotalAmt>191159</TotalAmt>
      </OtherExpensesGrp>
      <OtherExpensesGrp>
        <Desc>E-LEARNING EXPENSES</Desc>
        <TotalAmt>65054</TotalAmt>
      </OtherExpensesGrp>
      <OtherExpensesGrp>
        <Desc>CONSULTANTS</Desc>
        <TotalAmt>64253</TotalAmt>
      </OtherExpensesGrp>
      <OtherExpensesGrp>
        <Desc>CREDIT &amp; COUNTRY REPORTS</Desc>
        <TotalAmt>44919</TotalAmt>
      </OtherExpensesGrp>
      <AllOtherExpensesGrp>
        <TotalAmt>59325</TotalAmt>
      </AllOtherExpensesGrp>
      <TotalFunctionalExpensesGrp>
        <TotalAmt>890894</TotalAmt>
        <ProgramServicesAmt>0</ProgramServicesAmt>
        <ManagementAndGeneralAmt>0</ManagementAndGeneralAmt>
        <FundraisingAmt>0</FundraisingAmt>
      </TotalFunctionalExpensesGrp>
      <CashNonInterestBearingGrp>
        <BOYAmt>1262801</BOYAmt>
        <EOYAmt>1299682</EOYAmt>
      </CashNonInterestBearingGrp>
      <AccountsReceivableGrp>
        <BOYAmt>111704</BOYAmt>
        <EOYAmt>64704</EOYAmt>
      </AccountsReceivableGrp>
      <PrepaidExpensesDefrdChargesGrp>
        <BOYAmt>5666</BOYAmt>
        <EOYAmt>6327</EOYAmt>
      </PrepaidExpensesDefrdChargesGrp>
      <LandBldgEquipCostOrOtherBssAmt>15357</LandBldgEquipCostOrOtherBssAmt>
      <LandBldgEquipAccumDeprecAmt>15357</LandBldgEquipAccumDeprecAmt>
      <IntangibleAssetsGrp>
        <BOYAmt>6932</BOYAmt>
        <EOYAmt>3315</EOYAmt>
      </IntangibleAssetsGrp>
      <OtherAssetsTotalGrp>
        <BOYAmt>40651</BOYAmt>
        <EOYAmt>48918</EOYAmt>
      </OtherAssetsTotalGrp>
      <TotalAssetsGrp>
        <BOYAmt>1427754</BOYAmt>
        <EOYAmt>1422946</EOYAmt>
      </TotalAssetsGrp>
      <AccountsPayableAccrExpnssGrp>
        <BOYAmt>9203</BOYAmt>
        <EOYAmt>1836</EOYAmt>
      </AccountsPayableAccrExpnssGrp>
      <OtherLiabilitiesGrp>
        <BOYAmt>259876</BOYAmt>
        <EOYAmt>227973</EOYAmt>
      </OtherLiabilitiesGrp>
      <TotalLiabilitiesGrp>
        <BOYAmt>269079</BOYAmt>
        <EOYAmt>229809</EOYAmt>
      </TotalLiabilitiesGrp>
      <OrganizationFollowsFASB117Ind>X</OrganizationFollowsFASB117Ind>
      <NoDonorRestrictionNetAssetsGrp>
        <BOYAmt>1158675</BOYAmt>
        <EOYAmt>1193137</EOYAmt>
      </NoDonorRestrictionNetAssetsGrp>
      <TotalNetAssetsFundBalanceGrp>
        <BOYAmt>1158675</BOYAmt>
        <EOYAmt>1193137</EOYAmt>
      </TotalNetAssetsFundBalanceGrp>
      <TotLiabNetAssetsFundBalanceGrp>
        <BOYAmt>1427754</BOYAmt>
        <EOYAmt>1422946</EOYAmt>
      </TotLiabNetAssetsFundBalanceGrp>
      <ReconcilationRevenueExpnssAmt>34462</ReconcilationRevenueExpnssAmt>
      <MethodOfAccountingAccrualInd>X</MethodOfAccountingAccrualInd>
      <AccountantCompileOrReviewInd>false</AccountantCompileOrReviewInd>
      <FSAuditedInd>false</FSAuditedInd>
      <FederalGrantAuditRequiredInd>false</FederalGrantAuditRequiredInd>
    </IRS990>
    <IRS990ScheduleC documentId="RetDoc2">
      <SubstantiallyAllDuesNondedInd>false</SubstantiallyAllDuesNondedInd>
      <OnlyInHouseLobbyingInd>false</OnlyInHouseLobbyingInd>
      <AgreeCarryoverPriorYearInd>false</AgreeCarryoverPriorYearInd>
    </IRS990ScheduleC>
    <IRS990ScheduleD documentId="RetDoc3">
      <EquipmentGrp>
        <OtherCostOrOtherBasisAmt>15357</OtherCostOrOtherBasisAmt>
        <DepreciationAmt>15357</DepreciationAmt>
      </EquipmentGrp>
      <OtherLiabilitiesOrgGrp>
        <Desc>DEFERRED REVENUE</Desc>
        <Amt>227973</Amt>
      </OtherLiabilitiesOrgGrp>
      <TotalLiabilityAmt>227973</TotalLiabilityAmt>
    </IRS990ScheduleD>
    <IRS990ScheduleF documentId="RetDoc6">
      <GrantRecordsMaintainedInd>false</GrantRecordsMaintainedInd>
      <TransferToForeignCorpInd>false</TransferToForeignCorpInd>
      <InterestInForeignTrustInd>false</InterestInForeignTrustInd>
      <ForeignCorpOwnershipInd>false</ForeignCorpOwnershipInd>
      <PassiveForeignInvestmestCoInd>false</PassiveForeignInvestmestCoInd>
      <ForeignPartnershipInd>false</ForeignPartnershipInd>
      <BoycottCountriesInd>false</BoycottCountriesInd>
    </IRS990ScheduleF>
    <IRS990ScheduleJ documentId="RetDoc4">
      <SeverancePaymentInd>false</SeverancePaymentInd>
      <SupplementalNonqualRtrPlanInd>false</SupplementalNonqualRtrPlanInd>
      <EquityBasedCompArrngmInd>false</EquityBasedCompArrngmInd>
      <RltdOrgOfficerTrstKeyEmplGrp>
        <PersonNm>ANETA SPILMAN</PersonNm>
        <TitleTxt>PRESIDENT</TitleTxt>
        <BaseCompensationFilingOrgAmt>230492</BaseCompensationFilingOrgAmt>
        <TotalCompensationFilingOrgAmt>230492</TotalCompensationFilingOrgAmt>
      </RltdOrgOfficerTrstKeyEmplGrp>
    </IRS990ScheduleJ>
    <IRS990ScheduleO documentId="RetDoc5">
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990 - ORGANIZATION'S MISSION</FormAndLineReferenceDesc>
        <ExplanationTxt>IS TO ADVANCE THE PROFESSION OF INTERNATIONAL CREDIT MANAGEMENT BY PROVIDING UNMATCHED EXPERTISE, LEADERSHIP, POWERFUL CONNECTIONS, LEADING EDGE EDUCATION AND SERVICES, AND A FORUM FOR THE EXCHANGE OF INFORMATION AND BEST PRACTICES.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 1, PART I, LINE 6</FormAndLineReferenceDesc>
        <ExplanationTxt>THE BOARD OF DIRECTORS ARE ALL VOLUNTEERS.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 7A</FormAndLineReferenceDesc>
        <ExplanationTxt>THE MEMBERS OF THE BOARD OF DIRECTORS SHALL BE ELECTED BY THE CURRENT BOARD OF DIRECTORS BEFORE THE ANNUAL MEETING OF THE BOARD. DIRECTORS ON THE BOARD OF DIRECTORS SHALL SERVE FOR A TERM OF TWO YEARS COMMENCING AT THE ANNUAL MEETING OF THE BOARD OF DIRECTORS OR AT THE TIME OF INCORPORATION.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 7B</FormAndLineReferenceDesc>
        <ExplanationTxt>VOTING MEMBERS SHALL HAVE THE RIGHT TO VOTE ON THE ELECTION OF THE ADVISORY COUNCIL MEMBERS. VOTING ON ALL OTHER MATTERS SHALL BE RESERVED FOR THE ELECTED BOARD OF DIRECTORS.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 11B</FormAndLineReferenceDesc>
        <ExplanationTxt>THE EXECUTIVE COMMITTEE REVIEWS THE 990 BEFORE FILING TO THE IRS.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 15A</FormAndLineReferenceDesc>
        <ExplanationTxt>THE EXECUTIVE COMMITTEE APPROVES THE COMPENSATION OF THE TOP MANAGEMENT OFFICIAL</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 15B</FormAndLineReferenceDesc>
        <ExplanationTxt>THE EXECUTIVE COMMITTEE APPROVES THE COMPENSATION OF THE KEY EMPLOYEES</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 19</FormAndLineReferenceDesc>
        <ExplanationTxt>NO GOVERNING DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleO>
  </ReturnData>
</Return>