FICA invites fur retailers, wholesalers, and anyone else who has a vested interest in the fur industry to join the organization.
What is the 1% solution?
This program is the core of FICA’s financial support. With funds collected from retailers and manufacturers participating in the 1% solution, The Fur Information Council of America is able to create new programs and continues to support the successful programs already in place for its members. Contributions to this program go directly to promote the fur industry through media, education and legislative work at the national and state level. Your participation is crucial to keep FICA’s proactive programs up and running.
Why participate in the 1% Solution?
For those who are FICA board members or interested in becoming part of the board, participation in the 1% Solution is a fixed qualification (FICA By-Laws, Article IV. Section 7).
Also, playing a part in the 1% Solution is a tangible and commendable way to help your industry without having to write a substantial check.
Example of how the 1% Solution Works?
- Manufacturer sends Retailer an invoice for $100.00.
- Retailer sends Manufacturer a check to pay for the invoice in the amount of $99.50 and stamps the invoice 99.5% paid and .5% (or $0.50 cents) paid to FICA.
- Manufacturer receives the check for $99.50 and fills out the Manufacturer’s Worksheet, noting the Retailer that paid their .5%.
- Retailer then matches this .5% and sends FICA a check for $1.
- Manufacturer mails or faxes this worksheet to FICA monthly.
- Retailer sends FICA a check every month with all 1% payments, along with a filled-out Retailer’s Worksheet, which specifies all Manufacturers and the amount deducted from them.
- FICA staff matches payments between Retailer and Manufacture Worksheets.
In other words, .5% is deducted from the manufacturer’s invoice and matched by the retailer (a total of 1%), who forwards a check to FICA.
How to Calculate the Amount Due to FICA:
Simply multiply the amount on the Manufacturer’s invoice by .01.
Example: $100 x .01 = 1 or $1.00.
If you have any questions, please do not hesitate to call our office at (323) 782-1700.
Fax (323) 651-1417
Remit 1% payments to:
c/o Jacques Ferber Furs
1708 Walnut Street
Philadelphia, PA 19103
If you would like a membership application:
Fur Information Council of America
1921 Stevens Ave.
Bedford, IN 47421
TEL: (323) 782-1700