2011-07-20T16:51:50-05:00 2010-12-31 SHECHTMAN MARKS DEVOR PC 2000 MARKET STREET SUITE 500 PHILADELPHIA PA 19103 990 2010-01-01 231584971 INDEPENDENCE SEAPORT MUSEUM INDE 2159255439 211 S COLUMBUS BLVD WALNUT ST PHILADELPHIA PA 19106 PETER HAVENS 2159255439 2011-07-06 1 MICHAEL SUTTER CPA 2154969200 2010 2016-02-24 21:20:13Z PETER HAVENS 211 S COLUMBUS BLVD WALNUT ST PHILADELPHIA PA 19106 5770454 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. 28 26 41 40 0 0 1670020 759432 1123737 772274 276218 454272 71686 344197 3141661 2330175 0 0 0 0 1734220 1705427 22048 17600 363183 2400289 2238078 4156557 3961105 -1014896 -1630930 21394905 20688239 2047390 2251030 19347515 18437209 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 2413317 841038 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 65,000 PEOPLE VISITED THE MUSEUM DURING 2010. 2413317 1 1 0 1 0 0 1 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 16 0 1 41 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 28 26 1 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 STEPHEN S AICHELE 0.50 X 0 0 0 DIANA H BITTEL 0.50 X 0 0 0 HANS BOMBECK 0.50 X 0 0 0 BOISE BUTLER 0.50 X 0 0 0 WILLIAM B CHANDLEE 0.50 X 0 0 0 TRISTRAM C COLKET 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 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 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 BETSY LONGSTRETH 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 JOHN F MEIGS 0.50 X 0 0 0 ANTHONY J MESSINA 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 JOHN GAZZOLA 40.00 X 62500 0 1726 LORI DILLARD RECH 40.00 X 59365 0 6705 JAMIE MCLANE 40.00 X 21994 0 0 THOMAS DALY 0.50 X 0 0 0 143859 0 8431 0 0 0 0 0 54929 198073 506430 54147 759432 MUSEUM ADMISSIONS 713990 394269 394269 BOAT WORKSHOP 900099 355297 355297 EDUCATION & OTHER 900099 22708 22708 772274 257937 257937 227402 227402 227402 227402 3511930 3315595 196335 196335 196335 105326 57295 48031 48031 136153 67389 68764 68764 2330175 841038 0 729705 64226 64226 1309603 812646 307798 189159 331598 196273 82990 52335 31978 31978 34050 34050 18342 18342 17600 17600 49625 49625 157082 83987 62253 10842 13750 13750 236718 149327 46303 41088 538207 377070 152151 8986 47848 47848 750844 515895 220280 14669 172843 135762 35698 1383 EXHIBIT MAINTENANCE 126879 126879 STAFF DEVELOPMENT 30989 11937 15575 3477 BANK DEBT EXPENSE 20080 20080 FUNDRAISING 5302 5302 COLLECTIONS MAINTENANCE 3541 3541 3961105 2413317 1184605 363183 134742 93040 10252 1044 61432 26250 93735 89353 89313 93918 14189 20963 20680942 13231619 8561806 7449323 12266690 12868560 162746 45788 21394905 20688239 316025 156544 90827 9935 1640538 1493551 0 591000 2047390 2251030 X 17104323 17571183 2235692 866026 7500 0 19347515 18437209 21394905 20688239 X -1630930 720624 X 0 1 1 X 0 X 2779194 2023072 1831337 1670020 759432 9063055 2779194 2023072 1831337 1670020 759432 9063055 2346347 6716708 303259 406992 347365 276218 257937 1591771 143002 1278988 166366 11058 1599414 12254240 0.54810 0.54870 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: MISCELLANEOUS INCOME RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 1 18342 0 0 18342 0 EXPLANATION OF OTHER LOBBYING ACTIVITIES: PART II-B, LINE 1I: THE ORGANIZATION HIRED LOBBYIST TO ASSIST WITH OBTAINING STATE AND FEDERAL GRANT FUNDING. X X X 0 11464199 490858 1589237 1474474 12069820 1.00000 0 0 16813773 9536986 7276787 357979 281648 76331 3509190 3412985 96205 7449323 DEFERRED RENT OBLIGATION 591000 591000 2330175 3961105 -1630930 1181205 -468031 7450 720624 -910306 3642803 1181205 123973 7450 1312628 2330175 0 2330175 4085078 123973 123973 3961105 0 3961105 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: 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 8 - OTHER ADJUSTMENTS: INCREASE IN CASH SURRENDER VALUE OF LIFE INSURANCE 7,450. PART XII, LINE 2D - OTHER ADJUSTMENTS: INCREASE IN CASH SURRENDER VALUE OF LIFE INSURANCE 7,450. X X X X X X X 1 DONALD SMITH 2226 PINE STREET PHILADELPHIA PA 19103 PREPARE PLAN FOR CAPITAL CAMPAIGN 0 0 17600 -17600 17600 -17600 PA 4TH OF JULY FIREWORK 31519 31519 9055 50TH ANNIVERSAY EVENT 71100 71100 44575 102619 102619 53630 53630 48989 JOHN MEIGS STEPHEN AICHELE ON BOARD OF DIRECTORS 19493 LEGAL SERVICES 0 X 41 0 X 4 54157 X 11 0 X 6 0 X ARCHIVAL RECORD 10 0 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 A, LINE 2 STEPHEN AICHELE AND JOHN MEIGS HAVE A BUSINESS RELATIONSHIP. 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 2010 FOR THE PRESIDENT OF THE ORGANIZATION. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AVAILABLE TO THE GENERAL PUBLIC UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 1,181,205. PRIOR PERIOD ADJUSTMENTS: -468,031. INCREASE IN CASH SURRENDER VALUE OF LIFE INSURANCE 7,450. TOTAL TO FORM 990, PART XI, LINE 5: 720,624.