Civic Intelligence

Interferry Inc

990 • Fiscal year 2019 • EIN 61-1764907

Jan 01, 2019 to Dec 31, 2019 • Filed on Nov 13, 2020

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

55th percentile

0.20x

Higher debt load relative to assets than 55% of similar nonprofits.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

47th percentile

0.15x

Higher debt load relative to revenue than 47% of similar nonprofits.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2019

Net Margin

71st percentile

10%

Higher net margin than 71% of similar nonprofits.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

70th percentile

$199,161

Higher top officer pay than 70% of similar nonprofits.

Top officer pay equals 10.8% of source-year revenue.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2019

Asset Growth

86th percentile

24%

Faster asset growth than 86% of similar nonprofits.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

89th percentile

26%

Faster revenue growth than 89% of similar nonprofits.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Assets

Up

$1,385,337

Up $272,509 (+24%) from 2018

Net Assets

Up

$1,112,993

Up $191,639 (+21%) from 2018

Liabilities

Up

$272,344

Up $80,870 (+42%) from 2018

Revenue

Up

$1,836,824

Up $381,609 (+26%) from 2018

Expenses

Up

$1,645,185

Up $311,160 (+23%) from 2018

Net Income

Up

$191,639

Up $70,449 (+58%) from 2018

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

2019

Assets$1,385,337
Liabilities$272,344
Net Assets$1,112,993

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

2019

Revenue$1,836,824
Expenses$1,645,185
Net Income$191,639
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 13, 2020
Return Version
2019v5.1
Gross Receipts
$1,836,824
Mission and Program Overview

Mission

Interferry is a highly respected shipping association representing the ferry industry world-wide. There are currently more than 260 member companies, representing more than 1,000 individuals from 40 countries.Interferry's primary purposes are to represent the industry on regulatory and policy matters, to speak on behalf of the worldwide ferry industry, and facilitate networking and communications among our members.

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
Investments Other Securities$713,964$1,148,085▲ $434,121
Rtn Earn Endowment Incm Other Fnds$921,354$1,112,993▲ $191,639
Cash and Non-Interest-Bearing Accounts$224,972$153,567▼ $71,405
Accounts Receivable$28,855$75,282▲ $46,427
Prepaid Expenses and Deferred Charges$142,383$6,757▼ $135,626
Land, Buildings, and Equipment, Net$2,654$1,646▼ $1,008
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$1,112,828$1,385,337▲ $272,509
Liabilities
Accounts Payable and Accrued Expenses$191,474$176,203▼ $15,271
Deferred Revenue-$96,141-
Total Liabilities$191,474$272,344▲ $80,870
Net Assets / Fund Balance
Total Net Assets Fund Balance$921,354$1,112,993▲ $191,639
Total Liabilities and Net Assets / Fund Balance$1,112,828$1,385,337▲ $272,509

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$1,646$18,846$20,492
Other Securities$1,148,085--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Johan RoosKey employeeFT$199,161$199,161
Mike CorriganCEO/SecretaryFT$175,977$175,977
Shari CorriganKey employeeFT$103,625$103,625
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,825,444
Investment Income
$11,380
Other Revenue
$0
Change in Net Assets
$191,639
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,111,865
Salaries, Compensation, and Employee Benefits$533,320
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Conferences and Meetings$693,947--$693,947
Other Salaries and Wages-$533,320-$533,320
Office Expenses-$182,999-$182,999
Interest-$33,531-$33,531
Advertising-$33,116-$33,116
Other Expenses-$6,886-$6,886
Depreciation Depletion---$1,887
All Other Expenses-$-1,696-$-1,696
Total Functional Expenses$693,947$949,351$0$1,645,185
International Activity

International Summary

Offices
3
Employees
13
Spending
$2,841,450

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$1,768,631
EuropeAnnual Members ConferencePromotion of world-wide ferry safety and the environment16$693,947
EuropeProgram Services-11$378,872
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 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
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
2020-11-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Michael Corrigan
Formed
1978
Legal Domicile
Ny
Voting Board Members
259
Independent Board Members
259
Employees
0
Volunteers
30

Preparer

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

Additional Explanations

Form 990 Part XII Line 2C

There have been no changes from previous years.

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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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IRS990/Form990PartVIISectionAGrp/TitleTxt21Key employee
IRS990/Form990PartVIISectionAGrp/TitleTxt22Key employee
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IRS990/FormationYr01978
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IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt0259
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt01836824
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd00
IRS990/IndependentAuditFinclStmtInd00
IRS990/IndependentVotingMemberCnt0259
IRS990/IndivRcvdGreaterThan100KCnt03
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartIIIInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InterestGrp/ManagementAndGeneralAmt033531
IRS990/InterestGrp/TotalAmt033531
IRS990/InvestmentIncomeGrp/RelatedOrExemptFuncIncomeAmt011380
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt011380
IRS990/InvestmentInJointVentureInd00
IRS990/InvestmentsOtherSecuritiesGrp/BOYAmt0713964
IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt01148085
IRS990/IRPDocumentCnt00
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt018846
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IRS990/LandBldgEquipCostOrOtherBssAmt020492
IRS990/LegalDomicileStateCd0NY
IRS990/LoanOutstandingInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd01
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
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.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt0921354
IRS990/NetAssetsOrFundBalancesEOYAmt01112993
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NondeductibleContributionsInd00
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt0182999
IRS990/OfficeExpensesGrp/TotalAmt0182999
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501cInd0X
IRS990/OrgDoesNotFollowFASB117Ind0X
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0Special projects and su
IRS990/OtherExpensesGrp/Desc1Accounting and legal
IRS990/OtherExpensesGrp/Desc2Moving Expenses
IRS990/OtherExpensesGrp/Desc3Dues and Licenses
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt080227
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt172545
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt28423
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt36886
IRS990/OtherExpensesGrp/TotalAmt080227
IRS990/OtherExpensesGrp/TotalAmt172545
IRS990/OtherExpensesGrp/TotalAmt28423
IRS990/OtherExpensesGrp/TotalAmt36886
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0533320
IRS990/OtherSalariesAndWagesGrp/TotalAmt0533320
IRS990/PartialLiquidationInd00
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IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0142383
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt06757
IRS990/PrincipalOfficerNm0Michael Corrigan
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IRS990/ProgramServiceRevenueGrp/BusinessCd0480000
IRS990/ProgramServiceRevenueGrp/BusinessCd1480000
IRS990/ProgramServiceRevenueGrp/Desc0Annual Conference
IRS990/ProgramServiceRevenueGrp/Desc1Membership fees
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1709265
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt01041117
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1709265
IRS990/ProgSrvcAccomActy2Grp/Desc0General operating including representing world-wide ferry industry to international shipping regulators
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0951238
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt01836824
IRS990/ProhibitedTaxShelterTransInd00
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IRS990/PYOtherRevenueAmt00
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IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt01112993
IRS990/ScheduleBRequiredInd00
IRS990ScheduleC/AgreeCarryoverPriorYearInd00
IRS990ScheduleC/OnlyInHouseLobbyingInd01
IRS990ScheduleC/SubstantiallyAllDuesNondedInd00
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt01646
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt018846
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt020492
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt01148085
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Investments
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0C
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01646
IRS990ScheduleD/TotalBookValueSecuritiesAmt01148085
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/EmployeeCnt06
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/EmployeeCnt16
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/EmployeeCnt21
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/OfficesCnt01
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/OfficesCnt11
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/OfficesCnt21
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTotalExpendituresAmt01768631
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTotalExpendituresAmt1693947
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTotalExpendituresAmt2378872
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt0Canada
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt1Europe
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt2Europe
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
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt1Annual Members Conference
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt2Program Services
IRS990ScheduleF/BoycottCountriesInd00
IRS990ScheduleF/ContinuationSpentAmt00
IRS990ScheduleF/ContinuationTotalEmployeeCnt00
IRS990ScheduleF/ContinuationTotalOfficeCnt00
IRS990ScheduleF/ForeignCorpOwnershipInd00
IRS990ScheduleF/ForeignPartnershipInd00
IRS990ScheduleF/InterestInForeignTrustInd00
IRS990ScheduleF/PassiveForeignInvestmestCoInd00
IRS990ScheduleF/SubtotalEmployeesCnt013
IRS990ScheduleF/SubtotalOfficesCnt03
IRS990ScheduleF/SubtotalSpentAmt02841450
IRS990ScheduleF/SupplementalInformationDetail/FormAndLineReferenceDesc0Part III Accounting Method:
IRS990ScheduleF/TotalEmployeeCnt013
IRS990ScheduleF/TotalOfficeCnt03
IRS990ScheduleF/TotalSpentAmt02841450
IRS990ScheduleF/TransferToForeignCorpInd00
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990/ScheduleJRequiredInd01

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