2022-05-16T16:13:01-05:00 2021-06-30 111986323 Marcum LLP 1601 Market Street 4th Floor Philadelphia PA 19103 990 2020-07-01 231584971 Independence Seaport Museum INDE 2154138655 211 S Columbus Blvd Philadelphia PA 19106 WILLIAM LANE Treasurer 2154138655 2022-05-16 1 WILLIAM LANE 999009999 Thomas Mcglone P00029799 2152972100 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z John Brady 211 S Columbus Blvd Philadelphia PA 19106 2458258 0 X www.Phillyseaport.org X 1960 PA 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. 17 17 57 80 3541 2541 807124 1305107 536954 235503 625703 660522 93481 187029 2063262 2388161 52249 0 0 0 2357525 2122476 0 0 337867 2498485 2192112 4908259 4314588 -2844997 -1926427 24772705 28154026 1417889 1642530 23354816 26511496 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 3533893 236496 Independence Seaport Museum hosted a variety of activities during 2020. The museum's exhibitions and programs were able to resume after locally enforced Covid closings. This included existing core programs such as the award winning exhibition River Alivea highly interactive exhibition that focuses on the environmental aspects of the Delaware River and Tides of Freedoman historical exhibition about the role of the African-American experience along the Philadelphia waterfront. The museum also continued to offer its highly interactive summer Paddle Penn's Landing Program to engage families in one-on-one experiences with the Delaware River from various types of watercraft. In 2020, the ISM expanded its tour offerings on the Cruiser Olympia and Submarine Becuna. These personalized tours attracted widespread interest and the museum is continuing to offer them on an expanded schedule. Due to Covid 19, the museum shifted it's programming to on-line activities and offered a series of lectures and discussions for the public throughout the year. This has opened the door to new opportunities for the ISM going forward into the future. 3533893 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 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 27 0 1 57 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 17 17 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 PA X X X Jaewook Shim 2154138655 211 S Columbus Blvd Walnut St Philadelphia PA 19106 John Brady President & CEO until 02/2021 40.00 5.00 X X 123450 0 13393 Peter H Havens Board Chairman 0.50 1.00 X X 0 0 0 William L Lane III Director 0.50 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 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 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 Tim 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 Michael Flynn Executive VP and COO 0.50 X 113220 0 9042 Jennifer Blasy Controller-until 03/2021 40.00 X 112200 0 5486 Peter Seibert CEO & President - from 02/2021 40.00 X 0 0 0 348870 0 27921 2 0 0 0 0 17131 760888 527088 1305107 Museum Admissions 713990 103918 103918 Boat workshop & rental 900099 90010 90010 Education 900099 41575 41575 235503 660522 660522 61891 0 61891 61891 61891 116273 63328 52945 52945 11303 6769 4534 993 3541 Miscellaneous income 900099 67659 67659 67659 2388161 236496 3541 843017 162849 162849 1481645 1083334 202546 195765 333860 252996 41120 39744 144122 109214 17751 17157 28083 18436 7141 2506 39501 25932 10044 3525 108156 71003 27502 9651 52236 34292 13283 4661 32511 19655 6962 5894 104059 75265 14311 14483 410671 369613 28741 12317 13882 13882 1190148 1116692 51449 22007 116927 106209 6107 4611 Exhibit Maintenance 57642 57642 0 0 Program Supplies & Mate 21566 21566 0 0 Staff Development 10918 8552 1199 1167 Museum Events 5812 643 790 4379 4314588 3533893 442828 337867 313502 210266 176108 304403 45240 178774 3810 16819 10295 9930 20444 21034 25543888 21365763 5241940 4178125 18867981 23103211 93385 131464 24772705 28154026 121775 269801 66287 256106 462107 405128 498220 519200 269500 192295 1417889 1642530 X 23131516 26332337 223300 179159 23354816 26511496 24772705 28154026 -1926427 5083107 0 X X 0 1 X 1 0 X 331522 4464583 2121270 807124 1305107 9029606 527093 235503 762596 331522 4464583 2121270 1334217 1540610 9792202 161263 142119 303382 0 161263 142119 303382 9488820 204973 784844 876300 718304 722413 3306834 204973 784844 876300 718304 722413 3306834 8540 6519 -420 3390 3541 21570 7351 67659 75010 545035 5255946 2997150 2063262 2334223 13195616 0.71910 0.75460 0.25060 0.22870 X Part III, Short Year Explanation: The amounts reported for 2016 are based on a short year return for the period 01/01/2017-06/30/2017. The Independence Seaport Museum changed from a calendar year to a fiscal year on 01/01/2017. Therefore, a full calendar year return was filed for 12/31/2016 and a short year return for 06/30/2017. The short year amounts skew the public support percentages down and under the 33 1/3%. However, in two years, when the 2016 column is no longer included in the 5 year calculation, the calculated public support percentage should increase above the required 33 1/3% to meet the public support test. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X 0 18903674 5635231 1435600 23103305 20439460 128464 176186 1840436 18903674 23844633 876300 314786 4596259 20439460 23516495 784860 1051826 1508548 23844633 22802849 245583 1541317 1073254 23516495 1.00000 0 0 16878384 16018211 860173 1647374 1529949 117425 7018130 3817603 3200527 4178125 Deferred Rent Obligation 192295 192295 X Part X, Line 2: Management has analyzed the tax positions taken and has concluded that as of June 30, 2021, 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 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 increases in the consolidated statement of activities and changes in net assets. 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 33028 33028 22394 Holiday Toast/Parade of Light 66981 66981 17809 1 13764 13764 807 113773 113773 41010 41010 72763 X 0 0 0 0 0 0 0 0 0 Form 990, Part I, 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 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 an electronic copy of a draft of Form 990 for review by its audit and finance committee. A meeting is then held, if necessary, to discuss any issues or questions with the draft return. Once all issues have been resolved, the audit and finance committee approves the final Form 990 for filing. The organization distributes an electronic copy of a draft of Form 990 to the full board for review and approval for filing. 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 2020, all individuals completed the required forms on a timely basis. Form 990, Part VI, Section B, line 15 The board of port wardens approves the salaries of the President and key employees through the budget process. The organization uses comparative data from outside sources to also compare their salaries to industry ranges. This process was last undertaken in 2015 for the Chief Executive Officer. 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 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