2013-09-15T09:09:41-05:00 2012-12-31 232628828 SHECHTMAN MARKS DEVOR PC 2000 MARKET STREET SUITE 500 PHILADELPHIA PA 19103 990 2012-01-01 231584971 INDEPENDENCE SEAPORT MUSEUM INDE 2159255439 211 S COLUMBUS BLVD WALNUT ST PHILADELPHIA PA 19106 PETER HAVENS 2159255439 2013-08-28 1 MICHAEL SUTTER CPA P01400284 2154969200 2012 2016-02-24 21:20:13Z JOHN BRADY 211 S COLUMBUS BLVD WALNUT ST PHILADELPHIA PA 19106 7404794 0 X WWW.PHILLYSEAPORT.ORG X 1960 PA INDEPENDENCE SEAPORT MUSEUM IS A NATIONALLY PROMINENT, NON-PROFIT, EDUCATIONAL INSTITUTION THAT COLLECTS, PRESERVES, EXHIBITS, AND INTERPRETS ARTIFACTS AND ARCHIVAL MATERIALS, AND NURTURES THE SKILLS AND CULTURE OF OUR RICH MARITIME PAST AND PRESENT, FOR A DIVERSE AUDIENCE. 26 26 62 55 0 0 495107 716821 630765 554513 413516 1254001 413511 368903 1952899 2894238 0 0 0 0 1781526 1936443 0 0 325769 2118729 2898956 3900255 4835399 -1947356 -1941161 17902194 16619462 2074136 2129376 15828058 14490086 X INDEPENDENCE SEAPORT MUSEUM IS A NATIONALLY PROMINENT, NON-PROFIT, EDUCATIONAL INSTITUTION THAT COLLECTS, PRESERVES, EXHIBITS, AND INTERPRETS ARTIFACTS AND ARCHIVAL MATERIALS, AND NURTURES THE SKILLS AND CULTURE OF OUR RICH MARITIME PAST AND PRESENT, FOR A DIVERSE AUDIENCE. 0 0 2645293 608648 INDEPENDENCE SEAPORT MUSEUM IS A NATIONALLY PROMINENT, NON-PROFIT, EDUCATIONAL INSTITUTION THAT COLLECTS, PRESERVES, EXHIBITS, AND INTERPRETS ARTIFACTS AND ARCHIVAL MATERIALS, AND NURTURES THE SKILLS AND CULTURE OF OUR RICH MARITIME PAST AND PRESENT, FOR A DIVERSE AUDIENCE. IN SO DOING, THE MUSEUM FOSTERS AN UNDERSTANDING OF THE CONNECTIONS BETWEEN CIVILIZATION AND THE SEA, PARTICULARLY MARITIME ASPECTS OF THE SOCIAL, CULTURAL, POLITICAL, ENVIRONMENTAL, AND ECONOMIC HISTORY OF THE NATION'S BIRTHPLACE AND SURROUNDING REGION, FROM THE ARRIVAL OF THE EARLIEST INHABITANTS TO THE PRESENT. THE MUSEUM EXECUTES ITS MISSION THROUGH EXHIBITS, EDUCATIONAL PROGRAMS, A RESEARCH LIBRARY, AND PUBLICATIONS. APPROXIMATELY 75,000 PEOPLE VISITED THE MUSEUM DURING 2012. 2645293 1 1 0 0 0 0 0 1 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 1 37 0 1 62 1 0 0 0 0 0 1 1 0 0 0 0 X 26 26 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 PA X MANAGEMENT 2159255439 211 S COLUMBUS BLVD WALNUT ST PHILADELPHIA PA 19106 HANS BOMBECK 0.50 X 0 0 0 BOISE BUTLER 0.50 X 0 0 0 WILLIAM B CHANDLEE JR 0.50 X 0 0 0 THOMAS F EMLEN 0.50 X 0 0 0 WILLIAM L GAUNT 0.50 X 0 0 0 DEBORAH GIBBONS-NEFF 0.50 X 0 0 0 JAMES T GILES 0.50 X X 0 0 0 THOMAS S GREENWOOD 0.50 X 0 0 0 JOHN A GREGG 0.50 X 0 0 0 PETER H HAVENS 0.50 X X 0 0 0 RICHARD A HAYNE 0.50 X 0 0 0 DAMON R HOSTETTER 0.50 X 0 0 0 JOSEPH F HUBER 0.50 X 0 0 0 GORDON L KEEN JR 0.50 X 0 0 0 WILLIAM L LANE III 0.50 X 0 0 0 PETER MCCAUSLAND 0.50 X 0 0 0 JAMES W MCLANE 0.50 X 0 0 0 WILLIAM F MCLAUGHLIN JR 0.50 X 0 0 0 STEPHAN K PAHIDES 0.50 X 0 0 0 SUZANNE BAIRD PEROT 0.50 X 0 0 0 PAUL THOMPSON III 0.50 X 0 0 0 RICHARD B WORLEY 0.50 X 0 0 0 STEPHEN J DRISCOLL 0.50 X 0 0 0 SAM KATZ 0.50 X 0 0 0 DONALD U SMITH 0.50 X 0 0 0 JOSEPH P WATKINS 0.50 X 0 0 0 JOHN BRADY 40.00 X 116621 0 6649 JOHN K HUNTER 40.00 X 66471 0 701 183092 0 7350 1 0 0 0 KEITH RAGONE STUDIO PO BOX 605 NEWFIELD NJ 08344 PROVIDED EXHIBIT DESIGN & CONSTRUCTION S 118433 METCALFE ARCHITECTURE & ENGINEERING 1601 WALNUT ST STE 128 PHILADELPHIA PA 19102 PROVIDED DESIGN & STRATEGIC PLANNING SER 115538 2 40841 10000 665980 97325 716821 MUSEUM ADMISSIONS 713990 384701 384701 BOAT WORKSHOP 900099 122695 122695 EDUCATION & OTHER 900099 45692 45692 EXHIBITION FEES 900099 1425 1425 554513 188923 188923 260000 0 260000 260000 260000 4582909 858176 3912094 463913 670815 394263 1065078 1065078 127808 73040 54768 54768 115644 61509 54135 54135 2894238 608648 0 1568769 X 190442 49308 82894 58240 1397790 1044161 267910 85719 228869 160331 48958 19580 119342 82346 26255 10741 48452 48452 28000 28000 81473 81473 555491 555491 93596 93596 312760 156143 102513 54104 462584 292477 159475 10632 70027 70027 713364 399484 299613 14267 122486 96764 24497 1225 EXHIBIT MAINTENANCE 198962 198962 BAD DEBT EXPENSE 68779 68779 STAFF DEVELOPMENT 66334 66334 SPECIAL EVENTS 55573 55573 21075 5387 15688 4835399 2645293 1864337 325769 2582 1600297 113240 13240 67652 248258 85075 75960 5218 0 19768405 14165977 6752264 5602428 10808725 9022572 67438 56707 17902194 16619462 145567 260813 1939 5396 1342630 1286167 584000 577000 2074136 2129376 X 15022171 13815599 805887 674487 15828058 14490086 17902194 16619462 X -1941161 594828 8361 X 0 1 X 1 0 X 1831337 1670020 759432 495107 716821 5472717 1831337 1670020 759432 495107 716821 5472717 1794057 3678660 347365 276218 257937 216800 188923 1287243 166366 11058 177424 6937384 0.53030 0.54090 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X 0 10010022 1413580 1828550 9637845 12069820 -195848 1863950 10010022 11464199 490858 1589237 1474474 12069820 0 0 15879924 10329115 5550809 357979 357979 0 3530502 3478883 51619 5602428 DEFERRED RENT OBLIGATION 577000 577000 X 3566427 594828 69000 8361 672189 2894238 0 2894238 4904399 69000 69000 4835399 0 4835399 PART III, LINE 1A: THE MUSEUMS' 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. ALL COLLECTIONS ARE PRESERVED FOR EXHIBITION, EDUCATION AND RESEARCH PURPOSES IN DOING SO, THE MUSEUM FOSTERS AN UNDERSTANDING OF THE CONNECTIONS BETWEEN CIVILATION AND THE SEA. DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE GENERAL FUND HAS BEEN ESTABLISHED TO SUPPORT AND PROMOTE THE GROWTH, PROGRESS AND GENERAL WELFARE OF THE MUSEUM AND TO SUPPORT THE BOATSHOP WORKSHOP. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: 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 NOT IDENTIFIED ANY UNCERTAIN TAX POSITIONS SUBJECT TO THE UNRELATED BUSINESS INCOME TAX THAT REQUIRE RECOGNITION OR DISCLOSURE IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE MUSEUM'S INCOME TAX RETURNS FOR THE PAST THREE YEARS ARE SUBJECT TO EXAMINATION BY TAX AUTHORITIES, AND MAY CHANGE UPON EXAMINATION. PART XI, LINE 2D - OTHER ADJUSTMENTS: INCREASE IN CASH SURRENDER VALUE OF LIFE INSURANCE 8,361. RIVER GALA 42469 42469 770 300 2205 KELLOGG EVENT 55000 55000 8320 4953 1 38530 38530 70250 349 2382 135999 135999 79340 649 9540 89529 46470 JOHN MEIGS STEPHEN AICHELE ON BOARD OF DIRECTORS 34959 LEGAL SERVICES 0 X 3 X 10 90302 X 13 X 15 0 1 0 NON REPORTING OF REVENUE: PART I, LINE 33: THE MUSEUM DID NOT CAPITALIZE ITS COLLECTIONS, AS ALLOWED UNDER SFAS 116. FORM 990, PART VI, SECTION B, LINE 11 THE ORGANIZATION DISTRIBUTES AN ELECTRONIC COPY OF A DRAFT OF FORM 990 FOR REVIEW BY ITS AUDIT AND FINANCE COMMITTEES. 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 COMMITTEES APPROVE THE FINAL FORM 990. 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. ANY CONFLICTS WOULD BE BROUGHT TO THE ATTENTION OF THE BOARD OF PORT WARDENS AND A DECISION IS 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. 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 2011 FOR THE CHIEF EXECUTIVE OFFICER AND CHIEF OPERATING OFFICER OF THE ORGANIZATION. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AVAILABLE TO THE GENERAL PUBLIC UPON REQUEST & GUIDESTAR. OTHER FEES FORM 990, PART IX, LINE 11G ARCHITECT: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 115,538. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 115,538. EXHIBIT DESIGN: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 118,433. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 118,433. MEDIA: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 30,000. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 30,000. FUNDRAISING: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 50,000. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 50,000. STRATEGIC PLANNING: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 107,405. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 107,405. EXHIBIT BUILDERS: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 104,118. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 104,118. ENGINEERING FEES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 9,997. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 9,997. GUEST CURATOR FEE: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 20,000. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 20,000. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 9: INCREASE IN CASH SURRENDER VALUE OF LIFE INSURANCE 8,361.