Civic Intelligence

Interferry Inc

990 • Fiscal year 2018 • EIN 61-1764907

Jan 01, 2018 to Dec 31, 2018 • Filed on Oct 23, 2019

PO Box 53532 RPO BroadmeadVictoria, British Columbia V8X 5K2CA

(250) 516-9308

Siviq Scores

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

Liabilities / Assets

50th percentile

0.17x

Higher debt load relative to assets than 50% of similar nonprofits.

2018 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

44th percentile

0.13x

Higher debt load relative to revenue than 44% of similar nonprofits.

2018 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2018

Net Margin

67th percentile

8.3%

Higher net margin than 67% of similar nonprofits.

2018 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

57th percentile

$159,585

Higher top officer pay than 57% of similar nonprofits.

Top officer pay equals 11.0% of source-year revenue.

2018 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2018

Asset Growth

86th percentile

21%

Faster asset growth than 86% of similar nonprofits.

2018 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

48th percentile

2.8%

Faster revenue growth than 48% of similar nonprofits.

2018 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Assets

Up

$1,112,828

Up $192,826 (+21%) from 2017

Net Assets

Up

$921,354

Up $125,775 (+16%) from 2017

Liabilities

Up

$191,474

Up $67,051 (+54%) from 2017

Revenue

Up

$1,455,215

Up $40,317 (+2.8%) from 2017

Expenses

Up

$1,334,025

Up $108,512 (+8.9%) from 2017

Net Income

Down

$121,190

Down $68,195 (-36%) from 2017

Historical Trend

Balance Sheet Trend

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

$3.0M$2.0M$1.0M$0Assets 2015: $765,495Liabilities 2015: $304,057Net Assets 2015: $461,4382015Assets 2016: $737,676Liabilities 2016: $124,281Net Assets 2016: $613,3952016Assets 2017: $920,002Liabilities 2017: $124,423Net Assets 2017: $795,5792017Assets 2018: $1,112,828Liabilities 2018: $191,474Net Assets 2018: $921,3542018Assets 2019: $1,385,337Liabilities 2019: $272,344Net Assets 2019: $1,112,9932019Assets 2020: $1,204,552Liabilities 2020: $186,379Net Assets 2020: $1,018,1732020Assets 2021: $1,268,355Liabilities 2021: $223,532Net Assets 2021: $1,044,8232021Assets 2022: $1,620,792Liabilities 2022: $306,148Net Assets 2022: $1,314,6442022Assets 2023: $2,093,282Liabilities 2023: $316,270Net Assets 2023: $1,777,0122023Assets 2024: $2,040,280Liabilities 2024: $214,497Net Assets 2024: $1,825,7832024

Highlighted filing

2018

Assets$1,112,828
Liabilities$191,474
Net Assets$921,354

Operations Trend

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2015: $1,287,345Expenses 2015: $1,150,563Net Income 2015: $136,7822015Revenue 2016: $1,265,495Expenses 2016: $1,113,538Net Income 2016: $151,9572016Revenue 2017: $1,414,898Expenses 2017: $1,225,513Net Income 2017: $189,3852017Revenue 2018: $1,455,215Expenses 2018: $1,334,025Net Income 2018: $121,1902018Revenue 2019: $1,836,824Expenses 2019: $1,645,185Net Income 2019: $191,6392019Revenue 2020: $799,309Expenses 2020: $894,101Net Income 2020: -$94,7922020Revenue 2021: $1,529,650Expenses 2021: $1,472,968Net Income 2021: $56,6822021Revenue 2022: $2,022,641Expenses 2022: $1,752,820Net Income 2022: $269,8212022Revenue 2023: $2,036,461Expenses 2023: $1,574,093Net Income 2023: $462,3682023Revenue 2024: $2,024,595Expenses 2024: $1,975,824Net Income 2024: $48,7712024

Highlighted filing

2018

Revenue$1,455,215
Expenses$1,334,025
Net Income$121,190
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Oct 23, 2019
Return Version
2018v3.1
Gross Receipts
$1,455,215
Mission and Program Overview

Mission

Interferry, Inc. is a worldwide alliance of ferry owners, operators, and associated marine industries, all of whom provide a forum for sharing knowledge and ideas to promote and enhance the unique and special transportation services of the ferry industry. It has over 200 members from 35 countries.

Interferry, Inc. is a worldwide alliance of ferry owners, operators, and associated marine industries, all of whom provide a forum for sharing knowledge and ideas to promote and enhance the unique and special transportation services of the ferry industry. It has over 200 members from 35 countries.The two primary activities of Interferry are the annual conference and the representation of the industry with respect to international shipping regulations.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$795,579$921,354▲ $125,775
Investments Other Securities$652,833$713,964▲ $61,131
Cash and Non-Interest-Bearing Accounts$141,050$224,972▲ $83,922
Prepaid Expenses and Deferred Charges$71,943$142,383▲ $70,440
Accounts Receivable$50,514$28,855▼ $21,659
Land, Buildings, and Equipment, Net$3,662$2,654▼ $1,008
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$920,002$1,112,828▲ $192,826
Liabilities
Accounts Payable and Accrued Expenses$124,423$191,474▲ $67,051
Total Liabilities$124,423$191,474▲ $67,051
Net Assets / Fund Balance
Total Net Assets Fund Balance$795,579$921,354▲ $125,775
Total Liabilities and Net Assets / Fund Balance$920,002$1,112,828▲ $192,826

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$2,654$16,959$19,613
Other Securities$713,964--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeOtherTotal
Mike CorriganCEO/SecretaryFT$159,585$159,585
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,447,326
Investment Income
$7,889
Other Revenue
$0
Change in Net Assets
$121,190
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$791,348
Salaries, Compensation, and Employee Benefits$542,677
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages-$542,677-$542,677
Conferences and Meetings$445,896--$445,896
Office Expenses-$144,728-$144,728
Advertising-$26,254-$26,254
Interest-$23,843-$23,843
All Other Expenses-$11,791-$11,791
Other Expenses-$8,317-$8,317
Depreciation Depletion---$2,712
Total Functional Expenses$445,896$885,417$0$1,334,025
International Activity

International Summary

Offices
3
Employees
13
Spending
$1,614,503

International Compliance

Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
CanadaProgram ServicesMaintaining member lists and conducting day to day business including coordinating annual members conference.16$810,085
MexicoAnnual Members ConferencePromotion of world-wide ferry safety and the environment16$445,896
EuropeProgram Services-11$358,522
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
In-house lobbying only
Yes
Subject to proxy tax
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, line 2

Key employee Shari Corrigan is the spouse of Michael Corrigan the CEO/Secretary.

Form 990, Part VI, Section A, line 6

Each member of the Organization pays a membership fee and is entitled to one vote at any general meeting held.

Form 990, Part VI, Section A, line 7A

Each member of the Organization pays a membership fee and is entitled to one vote at any general meeting held including votes for the Board of Directors.

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

Members elect Board of Directors who are charged with regulatory compliance. Board of Director's approve Form 990 for filing. Copies are made available to members upon request.

Form 990, Part VI, Section C, line 19

The organization makes the relevant documents available to it's members through its website and upon request.

Filing and Contact Details

Filer

Filer Name
Interferry Inc
EIN
61-1764907
Phone
2505169308
Address
CA

Signing Officer

Name
Michael Corrigan
Title
CEO
Phone
2505169308
Signed
2019-10-23
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Michael Corrigan
Formed
1978
Legal Domicile
Ny
Voting Board Members
244
Independent Board Members
244
Employees
0
Volunteers
30

Preparer

Firm
Collins Barrow Victoria Ltd
Address
CA
Preparer
Shawn Strandberg
Phone
2503860500
Supplemental Narrative

Additional Explanations

Form 990, Part XI, line 9:

Other Comprehensive income 4585. Prior Year ADJ 1 Book/Tax depreciation adjustment Prior Year ADJ 2 Book/Tax depreciation adjustment

Form 990 Part XII Line 2C

There have been no changes from previous years.

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IRS990/MissionDesc0Interferry, Inc. is a worldwide alliance of ferry owners, operators, and associated marine industries, all of whom provide a forum for sharing knowledge and ideas to promote and enhance the unique and special transportation services of the ferry industry. It has over 200 members from 35 countries.
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IRS990ScheduleF/AccountActivitiesOutsideUSGrp/SpecificServicesProvidedTxt0Maintaining member lists and conducting day to day business including coordinating annual members conference.
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/SpecificServicesProvidedTxt1Promotion of world-wide ferry safety and the environment
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt0Program Services
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