Civic Intelligence

Chicago Maritime Society

990 • Fiscal year 2019 • EIN 36-3205719

Jan 01, 2019 to Dec 31, 2019 • Filed on Aug 10, 2020

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

92nd percentile

0.74x

Higher debt load relative to assets than 92% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Liabilities / Revenue

78th percentile

0.06x

Higher debt load relative to revenue than 78% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Net Margin

23rd percentile

-11%

Higher net margin than 23% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Top Officer Pay

77th percentile

$0

Higher top officer pay than 77% of similar nonprofits.

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

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Asset Growth

11th percentile

-43%

Faster asset growth than 11% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2019

Revenue Growth

59th percentile

6.9%

Faster revenue growth than 59% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2019

Assets

Down

$25,719

Down $19,309 (-43%) from 2018

Net Assets

Down

$6,725

Down $36,950 (-85%) from 2018

Liabilities

Up

$18,994

Up $17,641 (+1304%) from 2018

Revenue

Up

$345,251

Up $22,252 (+6.9%) from 2018

Expenses

Down

$382,201

Down $64,300 (-14%) from 2018

Net Income

Up

-$36,950

Up $86,552 (+70%) from 2018

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

2019

Assets$25,719
Liabilities$18,994
Net Assets$6,725

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

2019

Revenue$345,251
Expenses$382,201
Net Income-$36,950
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Aug 10, 2020
Return Version
2019v5.1
Gross Receipts
$345,251
Mission and Program Overview

Mission

Operation of a nautical history museum.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$35,693$10,343▼ $25,350
Accounts Receivable-$5,561-
Inventories for Sale or Use$4,595$5,075▲ $480
Land, Buildings, and Equipment, Net$0$0→ $0
Total Assets$45,028$25,719▼ $19,309
Other Assets Total$4,740$4,740→ $0
Liabilities
Accounts Payable and Accrued Expenses$776$15,044▲ $14,268
Other Liabilities$577$3,950▲ $3,373
Total Liabilities$1,353$18,994▲ $17,641
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$43,675$6,725▼ $36,950
Total Net Assets Fund Balance$43,675$6,725▼ $36,950
Total Liabilities and Net Assets / Fund Balance$45,028$25,719▼ $19,309

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$0$438,836$438,836
Other Assets Org$4,740--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2019-$30,000-$30,000-
2018-$12,500-$12,500-
2017$11,000$50,000-$61,000-
2016$60,074$10,000-$59,074$11,000
2015$10,072$50,000▲ $2-$60,074
Compensation and Service Providers

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$334,675
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$10,576
All Other Contributions
$326,005
Change in Net Assets
$-36,950
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$217,868
Salaries, Compensation, and Employee Benefits$155,933
Total Fundraising Expense$96,491
Professional Fundraising Fees$8,400
Grants and Similar Amounts Paid$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$59,105$36,941$51,716$147,762
Occupancy$57,567$14,392-$71,959
Advertising--$28,858$28,858
All Other Expenses$1,067$6,476$3,093$10,636
Fees for Services Accounting-$10,000-$10,000
Insurance$7,094$1,774-$8,868
Fees for Services Professional Fundraising--$8,400$8,400
Payroll Taxes$3,268$2,042$2,861$8,171
Office Expenses-$6,259$1,563$7,822
Other Expenses$989$5,605-$6,594
Total Functional Expenses$197,528$88,182$96,491$382,201
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$8,400
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Payroll Liabilities$3,170
Credit Card Payable$780
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
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
Douglas Walker
Title
Chairman of the Board
Phone
7733761982
Signed
2020-08-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Douglas Walker
Formed
1991
Legal Domicile
Il
Voting Board Members
9
Independent Board Members
9
Employees
2
Volunteers
20

Preparer

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

Financial Statement Notes

PART III, LINE 1A:

The collections, which were acquired through purchases and contributions since the museum's inception, are not recognized as assets on the statement of financial position. Purchases of collection items are recorded as decreases in net assets without donor restriction in the year in which the items are acquired, or as net assets with donor restrictions if the assets used to purchase the items are restricted by donors. Contributed collection items are not reflected on the financial statements.

PART III, LINE 4:

The mission of the museum is to foster learning about the impact of the region's waterways on chicago's evolution. Since 1982, the chicago maritime museum has collected items that commemorate chicago's maritime history. More than 6,000 items have been accumulated, including watercraft, models, articles, books, displays, art, images and artifacts.

PART X, LINE 2:

As of december 31, 2019, the museum did not have any uncertain tax positions that it is obligated to disclose. Additionally, there were no returns under review or open to review by taxing authorities in excess of statutory periods. The museum follows a conservative approach of research and open disclosure in regards to its status and positions held.

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt011
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt084
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0123
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IRS990ScheduleA/OtherIncome170Grp/TotalAmt027806
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IRS990ScheduleA/PublicSupportPY170Pct00.41140
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0306275
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0139491
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0284113
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01375091
IRS990ScheduleA/TotalSupportAmt01403020
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
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IRS990/ScheduleBRequiredInd01
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IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/OtherExpendituresAmt012500
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/BeginningYearBalanceAmt011000
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/ContributionsAmt050000
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/OtherExpendituresAmt061000
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IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/ContributionsAmt010000
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt011000
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/OtherExpendituresAmt059074
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IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0438836
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt04740
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0SECURITY DEPOSIT
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0CREDIT CARD PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1PAYROLL LIABILITIES
IRS990ScheduleD/SolicitedAssetsSaleInd00
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE COLLECTIONS, WHICH WERE ACQUIRED THROUGH PURCHASES AND CONTRIBUTIONS SINCE THE MUSEUM'S INCEPTION, ARE NOT RECOGNIZED AS ASSETS ON THE STATEMENT OF FINANCIAL POSITION. PURCHASES OF COLLECTION ITEMS ARE RECORDED AS DECREASES IN NET ASSETS WITHOUT DONOR RESTRICTION IN THE YEAR IN WHICH THE ITEMS ARE ACQUIRED, OR AS NET ASSETS WITH DONOR RESTRICTIONS IF THE ASSETS USED TO PURCHASE THE ITEMS ARE RESTRICTED BY DONORS. CONTRIBUTED COLLECTION ITEMS ARE NOT REFLECTED ON THE FINANCIAL STATEMENTS.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1THE MISSION OF THE MUSEUM IS TO FOSTER LEARNING ABOUT THE IMPACT OF THE REGION'S WATERWAYS ON CHICAGO'S EVOLUTION. SINCE 1982, THE CHICAGO MARITIME MUSEUM HAS COLLECTED ITEMS THAT COMMEMORATE CHICAGO'S MARITIME HISTORY. MORE THAN 6,000 ITEMS HAVE BEEN ACCUMULATED, INCLUDING WATERCRAFT, MODELS, ARTICLES, BOOKS, DISPLAYS, ART, IMAGES AND ARTIFACTS.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2AS OF DECEMBER 31, 2019, THE MUSEUM DID NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT IT IS OBLIGATED TO DISCLOSE. ADDITIONALLY, THERE WERE NO RETURNS UNDER REVIEW OR OPEN TO REVIEW BY TAXING AUTHORITIES IN EXCESS OF STATUTORY PERIODS. THE MUSEUM FOLLOWS A CONSERVATIVE APPROACH OF RESEARCH AND OPEN DISCLOSURE IN REGARDS TO ITS STATUS AND POSITIONS HELD.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART III, LINE 1A:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART III, LINE 4:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2PART X, LINE 2:
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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/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
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IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
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IRS990/TotalVolunteersCnt020
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IRS990/VotingMembersIndependentCnt09
IRS990/WebsiteAddressTxt0HTTP://WWW.CHICAGOMARITIMEMUSEUM.ORG/

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