Civic Intelligence

Flagship Olympia Foundation

990 • Fiscal year 2018 • EIN 81-2506869

Jul 01, 2017 to Jun 30, 2018 • Filed on May 14, 2019

Organization ProfileWWW.FLAGSHIPOLYMPIA.ORG
221 S Columbus BlvdPhiladelphia, PA 19106

(215) 413-8655

Siviq Scores

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

Liabilities / Assets

63rd percentile

0.01x

Higher debt load relative to assets than 63% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Liabilities / Revenue

83rd percentile

0.10x

Higher debt load relative to revenue than 83% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Net Margin

2nd percentile

-506%

Higher net margin than 2% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Top Officer Pay

76th percentile

$0

Higher top officer pay than 76% of similar nonprofits.

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

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Asset Growth

12th percentile

-38%

Faster asset growth than 12% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Annualized from 2017 to 2018

Revenue Growth

12th percentile

-42%

Faster revenue growth than 12% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets63rd percentile

Assets

Down

$81,401

Down $50,164 (-38%) from 2017

Net Assets

Down

$80,641

Down $37,506 (-32%) from 2017

Liabilities

Down

$760

Down $12,658 (-94%) from 2017

Revenue And Expenses
Liabilities / Revenue83rd percentileNet Margin2nd percentile

Revenue

Down

$7,411

Down $5,367 (-42%) from 2017

Expenses

Down

$44,917

Down $48,090 (-52%) from 2017

Net Income

Up

-$37,506

Up $42,723 (+53%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth12th percentile

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

$300K$200K$100K$0-$100KAssets 2016: $216,444Liabilities 2016: $18,068Net Assets 2016: $198,3762016Assets 2017: $131,565Liabilities 2017: $13,418Net Assets 2017: $118,1472017Assets 2018: $81,401Liabilities 2018: $760Net Assets 2018: $80,6412018Assets 2019: $11,969Liabilities 2019: $9,615Net Assets 2019: $2,3542019Assets 2020: $35,693Liabilities 2020: $2,320Net Assets 2020: $33,3732020Assets 2021: $2,999Liabilities 2021: $2,409Net Assets 2021: $5902021Assets 2022: $1,248Liabilities 2022: $4,251Net Assets 2022: -$3,0032022Assets 2023: $94Liabilities 2023: $5,493Net Assets 2023: -$5,3992023Assets 2024: $0Liabilities 2024: $0Net Assets 2024: $02024

Highlighted filing

2018

Assets$81,401
Liabilities$760
Net Assets$80,641
Open 2018 Filing

Operations Trend

Revenue Growth12th percentile

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

$300K$200K$100K$0-$100KRevenue 2016: $216,444Expenses 2016: $18,068Net Income 2016: $198,3762016Revenue 2017: $12,778Expenses 2017: $93,007Net Income 2017: -$80,2292017Revenue 2018: $7,411Expenses 2018: $44,917Net Income 2018: -$37,5062018Revenue 2019: $6,841Expenses 2019: $85,128Net Income 2019: -$78,2872019Revenue 2020: $111,311Expenses 2020: $80,292Net Income 2020: $31,0192020Revenue 2021: $37,005Expenses 2021: $69,788Net Income 2021: -$32,7832021Revenue 2022: $0Expenses 2022: $3,593Net Income 2022: -$3,5932022Revenue 2023: $1Expenses 2023: $2,397Net Income 2023: -$2,3962023Revenue 2024: $0Expenses 2024: $94Net Income 2024: -$942024

Highlighted filing

2018

Revenue$7,411
Expenses$44,917
Net Income-$37,506
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
May 14, 2019
Return Version
2017v2.3
Gross Receipts
$7,411
Mission and Program Overview

Mission

The corporation is dedicated to providing funding for the restoration, preservation, and improvement of the flagship olympia in collaboration with the independence seaport museum.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$131,565$81,401▼ $50,164
Total Assets$131,565$81,401▼ $50,164
Liabilities
Accounts Payable and Accrued Expenses$13,418$760▼ $12,658
Total Liabilities$13,418$760▼ $12,658
Net Assets / Fund Balance
Unrestricted Net Assets$118,147$80,641▼ $37,506
Total Net Assets Fund Balance$118,147$80,641▼ $37,506
Total Liabilities and Net Assets / Fund Balance$131,565$81,401▼ $50,164
Compensation and Service Providers
Top Officer Pay76th percentile

Board Members and Trustees

NameTitle
William F Mclaughlin JrChair
John BradyPresident
Paul Thompson IiiSecretary
Peter H HavensTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$6,400
Program Service Revenue
$0
Investment Income
$1,011
Other Revenue
$0
All Other Contributions
$6,400
Change in Net Assets
$-37,506

Audited Revenue Reconciliation

Revenue per Audited Statements
$7,411
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$7,866,143
Total Revenue per Audited Statements
$7,873,554
Total Revenue per Form 990
$7,411
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$44,917
Total Fundraising Expense$1,090
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$21,172$3,599$519$25,290
Fees for Services Lobbying$11,365$1,932$279$13,576
Advertising$5,604$105$291$6,000
Travel$47$3$1$51
Total Functional Expenses$38,188$5,639$1,090$44,917

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$6,090,761
Expenses Not Reported on Form 990$6,045,844
Expenses per Audited Statements$44,917
Total Expenses per Form 990$44,917
Expenses Not Reported on Financial Statements$0
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
Lobbying activity
Yes
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

“The organization's board reviews and approves a draft of form 990. A meeting is held, if necessary, to discuss any issues or questions with the draft return.”

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 annually. Any conflicts would be brought to the attention of the board of port wardens and a decision made as to whether the conflict of 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. During fye 6/30/18, all individuals completed the required forms on a timely basis.”

Form 990, Part VI, Section C, Line 18

“The organization makes its governing documents available to the general public upon request & via guidestar.”

Form 990, Part VI, Section C, Line 19

“The organization makes its governing documents available to the general public upon request & via guidestar.”

Filing and Contact Details

Filer

Filer Name
Flagship Olympia Foundation
EIN
81-2506869
Phone
2154138655
Address
221 S COLUMBUS BLVD, PHILADELPHIA, PA 19106

Signing Officer

Name
Peter Havens
Title
Treasurer
Phone
2154138655
Signed
2019-05-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
John Brady
Formed
2016
Legal Domicile
Pa
Voting Board Members
4
Independent Board Members
3
Employees
0
Volunteers
0

Preparer

Firm
Marcum Llp
Address
1601 MARKET STREET 4TH FLOOR, PHILADELPHIA, PA 19103
Preparer
Thomas Mcglone
Phone
2152972100
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Consulting services: program service expenses 21,172. Management and general expenses 3,599. Fundraising expenses 519. Total expenses 25,290.”

Financial Statement Notes

PART X, LINE 2:

“Management has analyzed the tax positions taken and has concluded that as of june 30, 2018 there are no uncertian positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements. The museum's tax returns are subject to examination by federal and state taxing authorities. However, there are no examinations currently in progress or pending.”

PART XI, LINE 2D - OTHER ADJUSTMENTS:

“Income from independence seaport mususeum reported on separate 990”

PART XII, LINE 2D - OTHER ADJUSTMENTS:

“Expenses from independence seaport mususeum reported on separate 990”

Part X, Line 2

“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 no taxable income subject to unrelated business income tax that would require recognition or disclosure in the accompanying financial statements.”

Raw XML Appendix381 raw XML fields

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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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN AND HAS CONCLUDED THAT AS OF JUNE 30, 2018 THERE ARE NO UNCERTIAN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR ASSET) OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE MUSEUM'S TAX RETURNS ARE SUBJECT TO EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES. HOWEVER, THERE ARE NO EXAMINATIONS CURRENTLY IN PROGRESS OR PENDING.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1INCOME FROM INDEPENDENCE SEAPORT MUSUSEUM REPORTED ON SEPARATE 990
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2EXPENSES FROM INDEPENDENCE SEAPORT MUSUSEUM REPORTED ON SEPARATE 990
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt3MANAGEMENT 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 NO TAXABLE INCOME SUBJECT TO UNRELATED BUSINESS INCOME TAX THAT WOULD REQUIRE RECOGNITION OR DISCLOSURE IN THE ACCOMPANYING FINANCIAL STATEMENTS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION'S BOARD REVIEWS AND APPROVES A DRAFT OF FORM 990. A MEETING IS HELD, IF NECESSARY, TO DISCUSS ANY ISSUES OR QUESTIONS WITH THE DRAFT RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ALL STAFF AND BOARD MEMBERS OF THE ORGANIZATION ARE REQUIRED TO SIGN A CONFLICT OF INTEREST STATEMENT DISCLOSING ANY POTENTIAL CONFLICTS ANNUALLY. ANY CONFLICTS WOULD BE BROUGHT TO THE ATTENTION OF THE BOARD OF PORT WARDENS AND A DECISION MADE AS TO WHETHER THE CONFLICT OF 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. DURING FYE 6/30/18, ALL INDIVIDUALS COMPLETED THE REQUIRED FORMS ON A TIMELY BASIS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AVAILABLE TO THE GENERAL PUBLIC UPON REQUEST & VIA GUIDESTAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AVAILABLE TO THE GENERAL PUBLIC UPON REQUEST & VIA GUIDESTAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4CONSULTING SERVICES: PROGRAM SERVICE EXPENSES 21,172. MANAGEMENT AND GENERAL EXPENSES 3,599. FUNDRAISING EXPENSES 519. TOTAL EXPENSES 25,290.
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 C, LINE 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART IX, LINE 11G
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IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
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ReturnHeader/FilingSecurityInformation/IPTm007:27:19
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0111986323
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01601 MARKET STREET 4TH FLOOR
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0PHILADELPHIA
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ReturnHeader/PreparerPersonGrp/PreparerPersonNm0THOMAS MCGLONE
ReturnHeader/ReturnTs02019-05-14T10:56:46-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-07-01
ReturnHeader/TaxPeriodEndDt02018-06-30
ReturnHeader/TaxYr02017

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$81,401
Liabilities
$760
Net assets
$80,641
Revenue
$7,411
Expenses
$44,917
Net income
-$37,506
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.00$0.00$0.00
2023Detailed filing. Detailed filing data is available for this year.$0.00$0.05$0.05$0.00$0.02$0.02
2022Detailed filing. Detailed filing data is available for this year.$0.01$0.04$0.03$0.00$0.04$0.04
2021Detailed filing. Detailed filing data is available for this year.$0.03$0.02$0.01$0.37$0.70$0.33
2020Detailed filing. Detailed filing data is available for this year.$0.36$0.02$0.33$1.11$0.80$0.31
2019Detailed filing. Detailed filing data is available for this year.$0.12$0.10$0.02$0.07$0.85$0.78
2018Detailed filing. Detailed filing data is available for this year.$0.81$0.01$0.81$0.07$0.45$0.38
2017Summary only. Only limited summary data is available for this year.$1.32$0.13$1.18$0.13$0.93$0.80
2016Detailed filing. Detailed filing data is available for this year.$2.16$0.18$1.98$2.16$0.18$1.98