2023-04-17T10:43:18-05:00 2022-06-30 111986323 Marcum LLP 1601 Market Street 4th Floor Philadelphia PA 19103 990 2021-07-01 231584971 Independence Seaport Museum INDE 2154138655 211 S Columbus Blvd Philadelphia PA 19106 THOMAS ASHTON Treasurer 2154138655 2023-04-13 1 THOMAS ASHTON 999009999 Thomas Mcglone P00029799 2152972100 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z PETER SEIBERT 211 S Columbus Blvd Philadelphia PA 19106 3137966 0 X www.Phillyseaport.org X 1960 PA Discover Philadelphia's river of history and world of connections. 18 18 79 116 1127 127 1305107 1280481 235503 604532 660522 847365 187029 350825 2388161 3083203 0 42602 0 0 2122476 2605082 0 0 330911 2192112 2112149 4314588 4759833 -1926427 -1676630 28154026 22539825 1642530 976297 26511496 21563528 X The Core Purpose or Mission of the Independence Seaport Museum is to discover Philadelphia's river of history and world of connections. Serving a wide and diverse audience and holding its collections in trust for the community, the Museum tells the stories of the people, historical events and environmental changes of the Delaware River and its tributaries. It looks to a broad regional definition of the River to include both Philadelphia and Camden as well as portions of the southern coast of New Jersey and the Schuylkill river drainage. 0 0 3979229 42602 595367 The Independence Seaport Museum hosted a wide range of programs, events and activities during 2021-22. Staff undertook the first of numerous changes to upgrade existing exhibitions and programs including the new ship model gallery, integration of its historic boat collection into its existing exhibitions, and environmental upgrades to the facilities. The museum continues to offer its award winning installation "River Alive" as well as the extremely popular exhibition 'Tides of Freedom." The former focuses upon the Delaware River and its environment while the latter closely examines the role of African-Americans along the river. In addition, the museum operates the Cruiser Olympia and submarine Becuna for the public. Finally, the museum provides extensive on the water educational programming throughout the year. This includes kayaking to historical and environmental locations along the Philadelphia waterfront. 3979229 1 1 0 0 0 0 0 1 0 1 1 0 0 0 1 1 0 1 0 0 0 0 0 0 1 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 44 0 1 79 1 1 1 0 0 0 0 0 0 0 0 0 X 18 18 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 1 1 PA X X Jaewook Shim 2154138655 211 S Columbus Blvd Walnut St Philadelphia PA 19106 Peter H Havens Chairman 0.50 1.00 X X 0 0 0 Peter Ernst Vice Chair 0.50 X X 0 0 0 James T Giles Secretary 0.50 X X 0 0 0 Thomas G Ashton Treasurer 0.50 X X 0 0 0 Joseph Benton Director 0.50 X 0 0 0 John C Devereux Director 0.50 X 0 0 0 Courtney Disston Director 0.50 X 0 0 0 Jonathan Epstein MD Director 0.50 X 0 0 0 Deborah Gibbons-Neff Director 0.50 X 0 0 0 Max Kaiserman Director 0.50 X 0 0 0 Timothy McGrath Director 0.50 X 0 0 0 Arthur Sulzer Director 0.50 X 0 0 0 Pamela Switlik Director 0.50 X 0 0 0 Scott Huston Director 0.50 X 0 0 0 William F Moen Director 0.50 X 0 0 0 Joseph B Lockley Director 0.50 X 0 0 0 Kenneth Wood Director 0.50 X 0 0 0 Brett EJ Gorman Director 0.50 X 0 0 0 Michael Flynn Executive VP and COO 40.00 X 112633 0 9576 Peter Seibert CEO & President 40.00 X 138175 0 16574 250808 0 26150 2 0 1 0 Delaware River Waterfront Corporation 121 N Columbus Blvd Philadelphia PA 19106 Building Lease 190000 National HR 2101 route 70 East Cherry Hill NJ 08003 HR Benefits Services 185565 2 33779 704484 542218 1280481 Museum Admissions 713990 361927 361927 Boat workshop & rental 713990 181248 181248 Education 713990 61357 61357 604532 847365 847365 317763 0 317763 317763 317763 27283 19601 7682 7682 27124 35162 -8038 -9165 1127 Miscellaneous income 561499 25418 25418 Curatorial 561499 8000 8000 33418 3083203 595367 1127 1206228 42602 42602 201208 170040 14777 16391 1915148 1618485 140647 156016 64387 54413 4729 5245 270223 228364 19845 22014 154116 130243 11318 12555 177019 90991 57869 28159 69503 35726 22721 11056 117281 60279 38337 18665 121049 69674 44312 7063 129231 110583 8207 10441 77116 63265 5155 8696 54881 28210 17941 8730 504882 454786 35715 14381 11715 11715 502490 498105 3099 1286 125949 114237 6670 5042 Program Supplies & Mate 100065 100065 Exhibit Maintenance 84373 84373 Staff Development 24584 17618 3050 3916 Museum Events 12011 7170 3586 1255 4759833 3979229 449693 330911 210266 24436 304403 5121 178774 143869 16819 58614 9930 44765 21034 52738 25791193 21868251 4178125 3922942 23103211 18168987 131464 118353 28154026 22539825 269801 331854 256106 156726 405128 372422 519200 192295 115295 1642530 976297 X 26332337 21476708 179159 86820 26511496 21563528 28154026 22539825 X -1676630 -3323520 10921 13612 27649 X X 0 1 X 1 0 X 4464583 2121270 807124 1305107 1280481 9978565 527093 235503 604532 1367128 4464583 2121270 1334217 1540610 1885013 11345693 161263 142119 99530 402912 0 161263 142119 99530 402912 10942781 784844 876300 718304 722413 1165127 4266988 784844 876300 718304 722413 1165127 4266988 6519 -420 3390 3541 1229 14259 7351 67659 33418 108428 5255946 2997150 2063262 2334223 3084787 15735368 0.69540 0.71910 0.27120 0.25060 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X 0 23103305 -2593878 2340346 18169081 18903674 5635231 1435600 23103305 20439460 128464 176186 1840436 18903674 23844633 876300 314786 4596259 20439460 23516495 784860 1051826 1508548 23844633 0 0 16981362 16027740 953622 1766115 1562726 203389 7043716 4277785 2765931 3922942 Deferred Rent Obligation 115295 115295 X -326398 -3323517 10921 -3312596 2986198 117271 -20266 97005 3083203 4635035 14953 3595 18548 4616487 117271 26075 143346 4759833 Part X, Line 2: Management has analyzed the tax positions taken and has concluded that as of June 30, 2022, there are no uncertain positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements. The Museum's tax returns are subject to examination by federal and state taxing authorities. However, there are no examinations currently in progress or pending. Part XI, Line 4b - Other Adjustments: Special Event Expenses Rental Expenses Audit Reconciliation Adjustment Part XII, Line 2d - Other Adjustments: Flagship Olympia Foundation Expenses Part XII, Line 4b - Other Adjustments: Special Event Expenses Rental Expenses Audit Reconciliation Adjustment Maritime grant expenses not recognized in audit report Part III, Line 1A The Museum's collections consist of historical artifacts, antiques, and other irreplaceable items that are maintained for public exhibition, education, and research in furtherance of public service rather than for financial gain. Collections are the most valuable assets of the Museum and are protected, kept unencumbered, cared for and preserved. The collections, which were acquired primarily though donation, are not recognized or capitalized as assets in the statement of financial position. Collection items purchased during the year are recorded as decreases in net assets without donor restriction in the year in which the items are acquired, or as decreases in net assets with donor restriction if the assets used to purchase the items are restricted by donors. The Museum records proceeds from deaccessions and insurance recoveries as increase in net assets in the consolidated statement of activities. Part V, Line 4 The general fund has been established to support and promote the growth, progress and general welfare of the Museum. The Boatshop fund has been established to support the Boatshop also known as the Workshop on the Water. Maritime Day 15253 15253 12322 Summer Collection 12030 12030 1236 1 0 6043 27283 27283 19601 19601 7682 1 Maritime Charter School 2275 Bridge Street Philadelphia PA 19137 050581913 501c3 13817 0 Maritime Education Port of Philadelphia Maritime Society PO Box 1374 Linwood PA 19061 232225822 501c6 13817 0 Maritime Education The Schuykill Center for Environmental Education 8480 Hagys MIll Road Philadelphia PA 19128 231654975 501c3 14968 0 Maritime Education 2 1 Part I, Line 2: For our NEA Town Grant, expenses were invoiced by sub-grantees and Independence Seaport Museum processed according to the grant budget. X 0 0 0 0 0 0 0 0 0 Peter Seibert CEO & President 138175 0 0 0 0 0 4101 0 12473 0 154749 0 0 0 Form 990, Part I, Line 1, Description of Organization Mission, continued: We seek, through our programs and exhibitions, to develop an understanding of the historical, cultural and environmental significance of the Delaware River and its estuaries. The Museum retains a nationally recognized collection of artifacts and documents chronicling the history of the communities along the Delaware River. Of particular note are the holdings related to the shipbuilding in Philadelphia. Chester, Camden and Gloucester as well as personal papers of such noted figures as Commodore Barry, father of the United States Navy. In addition, the museum also exhibits the historic Cruiser Olympiathe last remaining 19th century ironclad afloat in the world and the World War 2 submarine Becuna. These collections are used for both research and as part of exhibitions that showcase the people, history and environment of the region. Form 990, Part III, Line 1, Description of Organization Mission, continued: The Museum will take a leadership role in the future of the Delaware River Watershed including awareness of and advocacy for our valuable natural resources and the economic development of the region. As a good community steward, the Museum will provide an education and career awareness "Ladder of Opportunity" to students in our region and through them generational awareness of our water resources to all of our citizens. Our goal is to create understanding of the historical, economic, and environmental importance of the Delaware River Watershed. The Museum is home to one of the largest maritime art and artifact collections in North America, documenting the local and regional history of the Ports of Philadelphia, and two National Historic Landmark ships, Cruiser Olympia, Admiral Dewey's flagship at the Battle of Manila Bay, and World War II Submarine Becuna. The Museum is the premier, year- round, family-friendly destination that has become a key component of Philadelphia's waterfront renaissance on Penn's Landing. Form 990, Part VI, Section B, line 11b The organization distributes a draft copy of Form 990 to the Audit and Finance committees of the Board of Port Wardens. The committees review the draft and then formally recommend approval to the full Board of Port Wardens. Each member of the Board of Port Wardens is then sent a copy of the 990 along with the recommendation of the Audit and Finance Committees. The Board then approves filing of the 990 in a recorded motion. Form 990, Part VI, Section B, line 12c All board members of the organization are required to sign a conflict of interest statement disclosing any potential conflicts annually. Any conflicts would be brought to the attention of the board of port wardens and a decision made as to whether the conflict interferes with his/her duties. If allowed to remain they would be ineligible to be involved in the decision making or voting process that involves the conflict. During 2021, all members of the Board of Port Wardens completed the required conflict of interest statement in a timely basis. Form 990, Part VI, Section B, line 15 The Board of Port Wardens established compensation levels for the President and CEO along with the Senior Management Team through the annual budget process. The organization used comparative date from outside sources to compare their salaries to industry ranges. In January 2021, the Board of Port Wardens completed a review of compensation levels as part of the retention of a new President and CEO. Form 990, Part VI, Section C, line 19 The organization makes its governing documents available to the general public on its website and upon request. Form 990, Part XI, line 9: Change in cash surrender value of a split life insurance policy held on a -14,953. Grant expenses not recognized in audit report 42,602. Form 990, Part XII, Line 2c: The Organization had not changed its oversight and selection process involving its independent auditor during the tax year. Flagship Olympia Foundation 211 S Columbus Blvd Philadelphia PA 19106 812506869 Museum PA 501(c)(3) Line 7 N/A 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 1 0 1 0 1