2017-11-08T15:49:38-06:00 2016-12-31 131610809 FRIEDMAN LLP 2000 MARKET STREET SUITE 500 PHILADELPHIA PA 19103 990 2016-01-01 231584971 INDEPENDENCE SEAPORT MUSEUM INDE 2154138655 211 S COLUMBUS BLVD WALNUT ST PHILADELPHIA PA 19106 PETER HAVENS TREASURER 2154138655 2017-11-03 1 MICHAEL SUTTER CPA P01400284 2154969200 2017-11-03 38.98.221.158 2017-11-03 15:13:27 ED P 7DD2C7B4F006BFA351809ED39562A72A80BF178E 7DD2C7B4F006BFA351809ED39562A72A80BF178E 2016 2018-03-14 21:41:22Z JOHN BRADY 211 S COLUMBUS BLVD WALNUT ST PHILADELPHIA PA 19106 22701312 0 X WWW.PHILLYSEAPORT.ORG X 1960 PA INDEPENDENCE SEAPORT MUSEUM DEEPENS THE APPRECIATION, UNDERSTANDING AND EXPERIENCE OF THE PHILADELPHIA REGION'S WATERWAYS. 30 30 76 150 55954 0 14906733 2883741 911049 766789 1745220 700403 183971 515156 17746973 4866089 0 0 0 0 2022844 2503042 0 0 511658 2256267 2515482 4279111 5018524 13467862 -152435 27493904 28406239 2016848 1860789 25477056 26545450 X INDEPENDENCE SEAPORT MUSEUM DEEPENS THE APPRECIATION, UNDERSTANDING AND EXPERIENCE OF THE PHILADELPHIA REGION'S WATERWAYS. WE USE EXHIBITIONS AND PROGRAMS TO CONNECT OUR COMMUNITY AND VISITORS TO OUR RIVERS AND WATERSHED THROUGH HISTORY, SCIENCE, AND ART. THE MUSEUM IS THE PREMIER, YEAR-ROUND, FAMILY-FRIENDLY DESTINATION ON THE PENN'S LANDING WATERFRONT. VISITORS CAN DISCOVER THE HISTORY OF THE US NAVY AS THEY CLIMB ABOARD LIFE-SIZED MODEL SCHOONER DILIGENCE AND NATIONAL HISTORIC LANDMARK SHIPS CRUISER OLYMPIA AND SUBMARINE BECUNA. ENJOY THE DELAWARE RIVER WITH SEASONAL BOAT RENTALS. EXPERIENCE LIVE DEMONSTRATIONS IN THE BOAT BUILDING WORKSHOP AND CITIZEN SCIENCE LAB. EXPLORE ONE OF THE LARGEST MARITIME ART AND ARTIFACT COLLECTIONS IN NORTH AMERICA, DOCUMENTING LOCAL AND REGIONAL HISTORY, INCLUDING THE PORT OF PHILADELPHIA. THE SEAPORT MUSEUM WAS FOUNDED IN 1960 AS THE PHILADELPHIA MARITIME MUSEUM AND HAS BECOME A KEY COMPONENT OFPHILADELPHIA'S WATER FRONT RENAISSANCE. 0 0 2955807 792558 THE MUSEUM'S THREE LARGEST PROGRAM SERVICE AREAS BY EXPENSES WERE THE HISTORIC SHIPS, CRUISER OLYMPIA AND SUBMARINE BECUNA; CURATORIAL, INCLUDING THE GALLERIES, COLLECTION AND ARCHIVAL MATERIALS; AND EDUCATIONAL PROGRAMMING. SIGNIFICANT ACHIEVEMENTS INCLUDED THE PRESERVATION OF OVER 41 LINEAR FEET OF THE HULL AT CRITICAL WATERLINE AREAS AND CONTINUED RESTORATION OF THE DECKS ON OLYMPIA; ONGOING CONSTRUCTION IN OUR GALLERIES OF A FULL-SCALE, WATERLINE MODEL OF THE 1790S SCHOONER DILIGENCE; SUCCESSFUL OPENINGS OF THE EXHIBITS, "HELLO SAILOR:THE SAILOR ICON IN POP CULTURE;" "PATRIOTS & PIRATES: THE FOUNDING STORY OF THE US NAVY; AND BOATS BUILT AND LAUNCHED BY STUDENTS IN OUR STEAM EDUCATION PROGRAMS SCIENCE AND ART INNOVATIVE LEARNING ON THE RIVER (SAILOR), AND SEAPERCH AND MATE. WELL-ATTENDED PUBLIC PROGRAMS INCLUDED LUNAR NEW YEAR AND PARADE OF LIGHTS. THE MUSEUM IS ACCREDITED BY THE AMERICAN ASSOCIATION OF MUSEUMS. OVER 107,000 PEOPLE VISITED THE MUSEUM IN 2016, INCLUDING 14,000 STUDENTS WHO TOOK PART IN OUR EDUCATIONAL PROGRAMS. IN ADDITION, THE MUSEUM PARTNERED WITH THE CITY OF PHILADELPHIA AND OTHER LOCAL NONPROFITS TO WELCOME THE DEMOCRATIC NATIONAL CONVENTION TO VISIT PENN'S LANDING AND THE DELAWARE RIVER IN JULY. THE MUSEUM PROVIDED NEARLY 44,000 PEOPLE WITH SAFE AND FUN ON-WATER EXPERIENCES THROUGH THE PADDLE PENN'S LANDING BOAT LIVERY, WHICH RAN FROM MEMORIAL DAY THROUGH LABOR DAY. 2955807 1 1 0 0 0 0 0 1 0 1 1 0 0 0 1 1 1 1 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 1 0 0 1 76 1 1 1 0 0 0 0 0 0 0 0 0 X 30 30 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 PA X MANAGEMENT 2154138655 211 S COLUMBUS BLVD WALNUT ST PHILADELPHIA PA 19106 WILLIAM F MCLAUGHLIN JR DIRECTOR 0.50 X 0 0 0 DEBORAH GIBBONS-NEFF DIRECTOR 0.50 X 0 0 0 EMILIO GRAVAGNO DIRECTOR 0.50 X 0 0 0 GORDON L KEEN JR DIRECTOR 0.50 X 0 0 0 JAMES W MCLANE DIRECTOR 0.50 X 0 0 0 JASON INGLE DIRECTOR 0.50 X 0 0 0 JOHN A GREGG DIRECTOR 0.50 X 0 0 0 JOSEPH P WATKINS DIRECTOR 0.50 X 0 0 0 PAUL THOMPSON III DIRECTOR 0.50 X 0 0 0 RICHARD A HAYNE DIRECTOR 0.50 X 0 0 0 SAM KATZ DIRECTOR 0.50 X 0 0 0 STAN SWITLIK DIRECTOR 0.50 X 0 0 0 STEPHAN K PAHIDES DIRECTOR 0.50 X 0 0 0 STEPHEN J DRISCOLL DIRECTOR 0.50 X 0 0 0 THOMAS F EMLEN DIRECTOR 0.50 X 0 0 0 THOMAS S GREENWOOD VICE CHAIR 0.50 X X 0 0 0 WILLIAM L GAUNT DIRECTOR 0.50 X 0 0 0 WILLIAM L LANE III TREASURER 0.50 X X 0 0 0 JOHN C DEVEREUX DIRECTOR 0.50 X 0 0 0 WINFIELD DOUGHERTY 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 JAMES T GILES SECRETARY 0.50 X X 0 0 0 PETER H HAVENS BOARD CHAIRMAN 0.50 X X 0 0 0 PETER MCCAUSLAND DIRECTOR 0.50 X 0 0 0 THAYER ADAMS DIRECTOR 0.50 X 0 0 0 ANTHONY N BRADY DIRECTOR 0.50 X 0 0 0 PETER ERNST DIRECTOR 0.50 X 0 0 0 JOSEPH F HUBER VICE CHAIR 0.50 X X 0 0 0 STEVEN B UJIFUSA DIRECTOR 0.50 X 0 0 0 JOHN BRADY CHIEF EXECUTIVE OFFICER 40.00 X 150000 0 22213 150000 0 22213 1 0 1 0 0 46630 50000 2787111 22133 2883741 MUSEUM ADMISSIONS 713990 434007 434007 BOAT WORKSHOP 900099 165938 165938 EDUCATION & OTHER 900099 130669 130669 CURATORIAL INCOME 900099 36175 36175 766789 741806 741806 483223 66601 416622 416622 -1601 418223 17606336 17647739 -41403 -41403 -41403 42755 27545 15210 15210 176662 93338 83324 25769 57555 4866089 792558 55954 1133836 172213 93488 51185 27540 1880541 1019981 559492 301068 52107 24998 17541 9568 242927 116543 81778 44606 155254 74482 52264 28508 92369 62661 22139 7569 4107 2786 984 337 30888 20954 7403 2531 113395 113395 189405 128488 45396 15521 103098 101636 1462 251795 101142 115480 35173 433938 288617 127226 18095 36048 36048 688194 412915 261514 13765 93987 68370 24313 1304 PROGRAM SUPPLIES AND MA 395858 395858 STAFF DEVELOPMENT 52791 24380 22338 6073 EXHIBIT MAINTENANCE 18508 18508 BAD DEBT EXPENSE 11101 11101 5018524 2955807 1551059 511658 140130 922502 214979 201223 191741 1130121 29745 29296 15683 20281055 16893723 3793109 3387332 23059112 22650355 65088 69727 27493904 28406239 286465 192762 57329 42341 1177054 1166686 496000 459000 2016848 1860789 X 24991009 24513866 486047 2031584 25477056 26545450 27493904 28406239 X -152435 1216190 4639 X X 0 1 X 1 0 X 716821 947298 1967601 7349419 2883741 13864880 716821 947298 1967601 7349419 2883741 13864880 8064666 5800214 188923 123659 177757 735900 741806 1968045 -23148 -33500 -18110 55954 -18804 15814121 0.36680 0.38510 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X 0 22583077 266340 2454771 2501339 22802849 9889704 13657814 632378 1596819 22583077 10269087 512222 533420 1425025 9889704 9637845 11750 2019492 1400000 10269087 10010022 1413580 1828550 9595052 1.00000 0 0 15849349 12913608 2935741 357979 357979 0 4073727 3622136 451591 3387332 DEFERRED RENT OBLIGATION 459000 459000 X 6174444 1216190 20925 71240 1308355 4866089 0 4866089 5106050 20925 66601 87526 5018524 0 5018524 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 ON THE STATEMENT OF FINANCIAL POSITION. COLLECTION ITEMS PURCHASED DURING THE YEAR ARE RECORDED AS DECREASES IN UNRESTRICTED NET ASSETS IN THE YEAR IN WHICH THE ITEMS ARE ACQUIRED, OR AS DECREASES IN TEMPORARILY OR PERMANENTLY RESTRICTED NET ASSETS IF THE ASSETS USED TO PURCHASE THE ITEMS ARE RESTRICTED BY DONORS. CONTRIBUTED COLLECTIONS ARE NOT REFLECTED ON THE FINANCIAL STATEMENTS. THE MUSEUM RECORDS PROCEEDS FROM DEACCESSIONS AND INSURANCE RECOVERIES AS INCREASES IN THE STATEMENT OF ACTIVITIES. THE MUSEUM'S POLICY REQUIRES PROCEEDS FROM THE SALE OF COLLECTION ITEMS TO BE USED ONLY FOR ACQUISITION OF ADDITIONAL ITEMS FOR COLLECTIONS. 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. PART X, LINE 2: MANAGEMENT OF THE MUSEUM CONSIDERS THE LIKELIHOOD OF CHANGES BY TAXING AUTHORITIES IN ITS FILED INCOME TAX RETURNS AND RECOGNIZES A LIABILITY FOR OR DISCLOSES POTENTIAL SIGNIFICANT CHANGES THAT MANAGEMENT BELIEVES ARE MORE LIKELY THAN NOT TO OCCUR UPON EXAMINATION BY TAX AUTHORITIES, INCLUDING CHANGES TO THE MUSEUM'S STATUS AS A NOT-FOR-PROFIT ENTITY. MANAGEMENT BELIEVES THE MUSEUM MET THE REQUIREMENTS TO MAINTAIN ITS TAX-EXEMPT STATUS AND HAS NO TAXABLE INCOME SUBJECT TO UNRELATED BUSINESS INCOME TAX THAT WOULD REQUIRE RECOGNITION OR DISCLOSURE IN THE ACCOMPANYING FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: INCREASE IN CASH SURRENDER VALUE OF LIFE INSURANCE 4,639. EXPENSES PERTAINING TO UNRELATED BUSINESS INCOME ACTIVITIES 66,601. PART XII, LINE 2D - OTHER ADJUSTMENTS: EXPENSES PERTAINING TO UNRELATED BUSINESS INCOME ACTIVITIES 66,601. FANFARE ON THE FANTAIL 42755 42755 18199 7497 1849 42755 42755 18199 7497 1849 27545 15210 X X 0 0 0 0 0 0 0 0 0 JOHN BRADY CHIEF EXECUTIVE OFFICER 150000 0 0 0 0 0 14160 0 8053 0 172213 0 0 0 X 5 22133 FAIR MARKET VALUE X 17 0 0 0 1 0 PART I, LINE 33: THE MUSEUM DID NOT CAPITALIZE ITS COLLECTIONS, AS ALLOWED UNDER SFAS 116. 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 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. FORM 990, PART VI, SECTION B, LINE 12C ALL STAFF AND 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 2016, 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 UPON REQUEST & VIA GUIDESTAR. FORM 990, PART XI, LINE 9: INCREASE IN CASH SURRENDER VALUE OF LIFE INSURANCE 4,639. FORM 990, PART XII, LINE 2C THE ORGANIZATION HAD NOT CHANGED ITS OVERSHIGHT 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 0 0 0 1 0 0 0 0 FLAGSHIP OLYMPIA FOUNDATION O