Civic Intelligence

Flagship Olympia Foundation

990 • Fiscal year 2019 • EIN 81-2506869

Jul 01, 2018 to Jun 30, 2019 • Filed on Jul 15, 2020

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

93rd percentile

0.80x

Higher debt load relative to assets than 93% of similar nonprofits.

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

Liabilities / Revenue

97th percentile

1.41x

Higher debt load relative to revenue than 97% of similar nonprofits.

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

Net Margin

1st percentile

-1144%

Higher net margin than 1% 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

4th percentile

-85%

Faster asset growth than 4% of similar nonprofits.

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

Revenue Growth

37th percentile

-7.7%

Faster revenue growth than 37% of similar nonprofits.

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

Assets

Down

$11,969

Down $69,432 (-85%) from 2018

Net Assets

Down

$2,354

Down $78,287 (-97%) from 2018

Liabilities

Up

$9,615

Up $8,855 (+1165%) from 2018

Revenue

Down

$6,841

Down $570 (-7.7%) from 2018

Expenses

Up

$85,128

Up $40,211 (+90%) from 2018

Net Income

Down

-$78,287

Down $40,781 (-109%) from 2018

Historical Trend

Balance Sheet Trend

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

2019

Assets$11,969
Liabilities$9,615
Net Assets$2,354

Operations Trend

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

2019

Revenue$6,841
Expenses$85,128
Net Income-$78,287
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Jul 15, 2020
Return Version
2018v3.2
Gross Receipts
$6,841
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$81,401$11,969▼ $69,432
Total Assets$81,401$11,969▼ $69,432
Liabilities
Accounts Payable and Accrued Expenses$760$9,615▲ $8,855
Total Liabilities$760$9,615▲ $8,855
Net Assets / Fund Balance
Unrestricted Net Assets$80,641$2,354▼ $78,287
Total Net Assets Fund Balance$80,641$2,354▼ $78,287
Total Liabilities and Net Assets / Fund Balance$81,401$11,969▼ $69,432
Compensation and Service Providers

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$6,000
Program Service Revenue
$0
Investment Income
$841
Other Revenue
$0
All Other Contributions
$6,000
Change in Net Assets
$-78,287

Audited Revenue Reconciliation

Revenue per Audited Statements
$6,841
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$4,378,382
Total Revenue per Audited Statements
$4,385,223
Total Revenue per Form 990
$6,841
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$85,128
Total Fundraising Expense$3,498
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Lobbying$54,259$16,043$1,698$72,000
Advertising$6,367$180$337$6,884
Other Expenses$2,709$0$1,320$4,029
Office Expenses$619$154$85$858
Travel$639$55$44$738
Fees for Services Other$467$138$14$619
Total Functional Expenses$65,060$16,570$3,498$85,128

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$5,829,353
Expenses Not Reported on Form 990$5,744,225
Expenses per Audited Statements$85,128
Total Expenses per Form 990$85,128
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 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 6/30/19, 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
2020-07-15
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

Financial Statement Notes

PART X, LINE 2:

Management has analyzed the tax positions taken and has concluded that as of june 30, 2019 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.

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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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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN AND HAS CONCLUDED THAT AS OF JUNE 30, 2019 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.
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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 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 6/30/19, 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/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
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0INDEPENDENCE SEAPORT MUSUEUM
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0231584971
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0PA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0MUSEUM
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0LINE 7
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0PHILADELPHIA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0PA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd019106
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd01
IRS990ScheduleR/PerformOfServicesByOtherOrgInd01
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd01
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd01
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd01
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0PA
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt081401
IRS990/TotalAssetsEOYAmt011969
IRS990/TotalAssetsGrp/BOYAmt081401
IRS990/TotalAssetsGrp/EOYAmt011969
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt06000
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt03498
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt016570
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt065060
IRS990/TotalFunctionalExpensesGrp/TotalAmt085128
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0760
IRS990/TotalLiabilitiesEOYAmt09615
IRS990/TotalLiabilitiesGrp/BOYAmt0760
IRS990/TotalLiabilitiesGrp/EOYAmt09615
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt080641
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02354
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt065060
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0841
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt06841
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt081401
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt011969
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/FundraisingAmt044
IRS990/TravelGrp/ManagementAndGeneralAmt055
IRS990/TravelGrp/ProgramServicesAmt0639
IRS990/TravelGrp/TotalAmt0738
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt080641
IRS990/UnrestrictedNetAssetsGrp/EOYAmt02354
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0211 S COLUMBUS BLVD
IRS990/USAddress/CityNm0PHILADELPHA
IRS990/USAddress/StateAbbreviationCd0PA
IRS990/USAddress/ZIPCd019106
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0WWW.FLAGSHIPOLYMPIA.ORG
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02021-01-29 14:40:06Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0PETER HAVENS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum02154138655
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-07-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FLAGSHIP OLYMPIA FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0FLAG
ReturnHeader/Filer/EIN0812506869
ReturnHeader/Filer/PhoneNum02154138655
ReturnHeader/Filer/USAddress/AddressLine1Txt0221 S COLUMBUS BLVD
ReturnHeader/Filer/USAddress/CityNm0PHILADELPHIA
ReturnHeader/Filer/USAddress/StateAbbreviationCd0PA
ReturnHeader/Filer/USAddress/ZIPCd019106
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0DA39A3EE5E6B4B0D3255BFEF95601890AFD80709
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId02ECDB53295E89E1282A124755C2AF27527EE4C93
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0144.121.95.190
ReturnHeader/FilingSecurityInformation/IPDt02020-07-15
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ED
ReturnHeader/FilingSecurityInformation/IPTm007:02:44
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0111986323
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0MARCUM LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01601 MARKET STREET 4TH FLOOR
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0PHILADELPHIA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd019103
ReturnHeader/PreparerPersonGrp/PhoneNum02152972100
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0THOMAS MCGLONE
ReturnHeader/ReturnTs02020-07-15T16:52:34-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-07-01
ReturnHeader/TaxPeriodEndDt02019-06-30
ReturnHeader/TaxYr02018

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