Civic Intelligence

Chicago Maritime Society

990 • Fiscal year 2017 • EIN 36-3205719

Jan 01, 2017 to Dec 31, 2017 • Filed on Apr 04, 2018

1200 West 35th Street No 5010Chicago, IL 60609

(773) 376-1982

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

20th percentile

0.00x

Higher debt load relative to assets than 20% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

22nd percentile

0.01x

Higher debt load relative to revenue than 22% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Net Margin

58th percentile

5.9%

Higher net margin than 58% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

35th percentile

$0

Higher top officer pay than 35% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Asset Growth

42nd percentile

0.8%

Faster asset growth than 42% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2017

Revenue Growth

39th percentile

0.6%

Faster revenue growth than 39% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2017

Assets

Up

$1,085,380

Up $17,421 (+1.6%) from 2015

Net Assets

Up

$1,082,424

Up $14,465 (+1.4%) from 2015

Liabilities

Up

$2,956

Up $2,956 from 2015

Revenue

Up

$287,473

Up $3,347 (+1.2%) from 2015

Expenses

Up

$270,582

Up $170,087 (+169%) from 2015

Net Income

Down

$16,891

Down $166,740 (-91%) from 2015

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$4.0M$3.0M$2.0M$1.0M$0Assets 2014: $884,328Liabilities 2014: $0Net Assets 2014: $884,3282014Assets 2015: $1,067,959Liabilities 2015: $0Net Assets 2015: $1,067,9592015Assets 2017: $1,085,380Liabilities 2017: $2,956Net Assets 2017: $1,082,4242017Assets 2018: $45,028Liabilities 2018: $1,353Net Assets 2018: $43,6752018Assets 2019: $25,719Liabilities 2019: $18,994Net Assets 2019: $6,7252019Assets 2020: $145,819Liabilities 2020: $34,938Net Assets 2020: $110,8812020Assets 2021: $2,221,949Liabilities 2021: $6,414Net Assets 2021: $2,215,5352021Assets 2022: $2,102,363Liabilities 2022: $131,589Net Assets 2022: $1,970,7742022Assets 2023: $2,576,943Liabilities 2023: $118,086Net Assets 2023: $2,458,8572023Assets 2024: $3,435,416Liabilities 2024: $242,566Net Assets 2024: $3,192,8502024

Highlighted filing

2017

Assets$1,085,380
Liabilities$2,956
Net Assets$1,082,424

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2014: $86,510Expenses 2014: $79,122Net Income 2014: $7,3882014Revenue 2015: $284,126Expenses 2015: $100,495Net Income 2015: $183,6312015Revenue 2017: $287,473Expenses 2017: $270,582Net Income 2017: $16,8912017Revenue 2018: $322,999Expenses 2018: $446,501Net Income 2018: -$123,5022018Revenue 2019: $345,251Expenses 2019: $382,201Net Income 2019: -$36,9502019Revenue 2020: $319,979Expenses 2020: $215,823Net Income 2020: $104,1562020Revenue 2021: $2,410,244Expenses 2021: $275,902Net Income 2021: $2,134,3422021Revenue 2022: $328,771Expenses 2022: $276,917Net Income 2022: $51,8542022Revenue 2023: $444,820Expenses 2023: $412,497Net Income 2023: $32,3232023Revenue 2024: $279,742Expenses 2024: $343,901Net Income 2024: -$64,1592024

Highlighted filing

2017

Revenue$287,473
Expenses$270,582
Net Income$16,891
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Apr 4, 2018
Return Version
2017v2.2
Gross Receipts
$317,275
Mission and Program Overview

Mission

Operation of a nautical history museum.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$394,324$365,068▼ $29,256
Cash and Non-Interest-Bearing Accounts$27,329$51,948▲ $24,619
Loans From Officers Directors$20,000--
Inventories for Sale or Use$28,116$3,099▼ $25,017
Total Assets$1,115,034$1,085,380▼ $29,654
Other Assets Total$665,265$665,265→ $0
Liabilities
Accounts Payable and Accrued Expenses$29,501$2,956▼ $26,545
Total Liabilities$49,501$2,956▼ $46,545
Net Assets / Fund Balance
Unrestricted Net Assets$1,054,533$1,082,424▲ $27,891
Temporarily Rstr Net Assets$11,000$0▼ $11,000
Total Net Assets Fund Balance$1,065,533$1,082,424▲ $16,891
Total Liabilities and Net Assets / Fund Balance$1,115,034$1,085,380▼ $29,654

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$365,068$73,768$438,836
Other Assets Org$2,600--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2017$11,000$50,000-$61,000-
2016$60,074$10,000-$59,074$11,000
2015$10,072$50,000▲ $2-$60,074
2014$10,277--$205$10,072
2013$10,801--$524$10,277
Compensation and Service Providers

Board Members and Trustees

NameTitle
Dirk LohanChairman
Gerald H Thomas Ph DPresident Emeritus
Capt Dave TruittDirector
Deane Tank Sr PhdDirector
Grant CrowleyDirector
Jr DavisDirector
Louis SudlerDirector
Matthew HowardDirector
Russell LewisDirector
David MetzgerSecretary
Doug WalkerTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$306,275
Program Service Revenue
$0
Investment Income
$8
Other Revenue
$-18,810
All Other Contributions
$295,490
Change in Net Assets
$16,891
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$176,671
Salaries, Compensation, and Employee Benefits$93,796
Grants and Similar Amounts Paid$115
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$88,175--$88,175
Occupancy$62,032--$62,032
Depreciation Depletion$29,256--$29,256
Fees for Services Other$23,301--$23,301
Office Expenses$12,699--$12,699
Advertising$12,585--$12,585
Insurance$5,389$1,795-$7,184
Payroll Taxes$5,621--$5,621
All Other Expenses$2,677--$2,677
Other Expenses$2,472--$2,472
Fees for Services Legal$999--$999
Grants to Domestic Individuals$115--$115
Total Functional Expenses$268,787$1,795$0$270,582
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$2,135
Fundraising Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$20,000--
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

A copy of form 990 is provided to the organization's governing body prior to filing. The members of the governing body review and approve the form for filing.

Form 990, Part VI, Section B, Line 12C

The organization regularly reviews and monitors its conflict of interest policy. The organization enforces the policy when selecting officers and directors. If a conflict of interest is discovered, the organization shall take corrective and disciplinary action.

Form 990, Part VI, Section B, Line 15A

The organization's president conducted research relating to competitive compensation for museum executive directors and a compensation contract agreement was signed by both parties.

Form 990, Part VI, Section C, Line 19

The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Chicago Maritime Museum
EIN
36-3205719
Phone
7733761982
Address
1200 WEST 35TH STREET NO 5010, CHICAGO, IL 60609

Signing Officer

Name
Dirk Lohan
Title
Chairman of the Board
Phone
7733761982
Signed
2018-04-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dirk Lohan
Formed
1991
Legal Domicile
Il
Voting Board Members
11
Independent Board Members
11
Employees
0
Volunteers
18

Preparer

Firm
Pasquesi Sheppard LLC
Address
585 BANK LANE, LAKE FOREST, IL 60045
Preparer
L Robert Pasquesi
Phone
8472345000
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 1:

The organization adopted the accrual method of accounting in order to comply with generally accepted accounting principles.

Financial Statement Notes

PART III, LINE 4:

Maintain nautical history items, including books, artifacts, and commemorative items, and provide lectures, public presentations of nautical history, and publish books.

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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt0576
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IRS990ScheduleA/PublicSupportPY170Pct00.46010
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt084457
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt035360
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0849696
IRS990ScheduleA/TotalSupportAmt0855355
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IRS990ScheduleD/CYEndwmtFundGrp/ContributionsAmt050000
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IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt060074
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/ContributionsAmt010000
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt011000
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/OtherExpendituresAmt059074
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/BeginningYearBalanceAmt010072
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/ContributionsAmt050000
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt060074
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt02
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/BeginningYearBalanceAmt010277
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt010072
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/OtherExpendituresAmt0205
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/BeginningYearBalanceAmt010801
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt010277
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/OtherExpendituresAmt0524
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd00
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd00
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0365068
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt073768
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0438836
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt050000
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt1173840
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt245000
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt350000
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt4410
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt5180525
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt61000
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IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt87000
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IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt133000
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt1430000
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt1530000
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IRS990ScheduleD/OtherAssetsOrgGrp/Desc0DISPLAYS & MODELS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1ARTIFACT COLLECTION
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2HISTORIC IMAGES
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3REFERENCE MATERIALS/ BOOKS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc4NAUTICAL DONATIONS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc5RALPH FRESE COLLECTION
IRS990ScheduleD/OtherAssetsOrgGrp/Desc6BINNACLE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc7COAST GUARD BOAT
IRS990ScheduleD/OtherAssetsOrgGrp/Desc8DOWS ANCHOR
IRS990ScheduleD/OtherAssetsOrgGrp/Desc9EASTLAND DIVE SUIT
IRS990ScheduleD/OtherAssetsOrgGrp/Desc10EASTLAND IMAGE COLLECTION
IRS990ScheduleD/OtherAssetsOrgGrp/Desc11SCOTT GLADA WOOD PAINTING
IRS990ScheduleD/OtherAssetsOrgGrp/Desc12SOBART CHICAGO HARBOR PRINTS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc13VICKERY PAINTING PRINT
IRS990ScheduleD/OtherAssetsOrgGrp/Desc14WOLVERINE DISPLAY
IRS990ScheduleD/OtherAssetsOrgGrp/Desc15DAVID DOWS MODEL
IRS990ScheduleD/OtherAssetsOrgGrp/Desc16SECURITY DEPOSIT
IRS990ScheduleD/SolicitedAssetsSaleInd00
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0MAINTAIN NAUTICAL HISTORY ITEMS, INCLUDING BOOKS, ARTIFACTS, AND COMMEMORATIVE ITEMS, AND PROVIDE LECTURES, PUBLIC PRESENTATIONS OF NAUTICAL HISTORY, AND PUBLISH BOOKS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART III, LINE 4:
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IRS990ScheduleD/TotalBookValueOtherAssetsAmt0665265
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A COPY OF FORM 990 IS PROVIDED TO THE ORGANIZATION'S GOVERNING BODY PRIOR TO FILING. THE MEMBERS OF THE GOVERNING BODY REVIEW AND APPROVE THE FORM FOR FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION REGULARLY REVIEWS AND MONITORS ITS CONFLICT OF INTEREST POLICY. THE ORGANIZATION ENFORCES THE POLICY WHEN SELECTING OFFICERS AND DIRECTORS. IF A CONFLICT OF INTEREST IS DISCOVERED, THE ORGANIZATION SHALL TAKE CORRECTIVE AND DISCIPLINARY ACTION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION'S PRESIDENT CONDUCTED RESEARCH RELATING TO COMPETITIVE COMPENSATION FOR MUSEUM EXECUTIVE DIRECTORS AND A COMPENSATION CONTRACT AGREEMENT WAS SIGNED BY BOTH PARTIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION ADOPTED THE ACCRUAL METHOD OF ACCOUNTING IN ORDER TO COMPLY WITH GENERALLY ACCEPTED ACCOUNTING PRINCIPLES.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XII, LINE 1:
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IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0268787
IRS990/TotalFunctionalExpensesGrp/TotalAmt0270582
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt049501

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