Civic Intelligence

Pacific Maritime Association

990 • Fiscal year 2015 • EIN 94-2914940

Jul 01, 2014 to Jun 30, 2015 • Filed on May 16, 2016

Refreshing map…

555 Market StreetSan Francisco, CA 94105-2800

(415) 576-3200

Siviq Scores

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

Liabilities / Assets

86th percentile

0.89x

Higher debt load relative to assets than 86% of similar nonprofits.

2015 filings • $250M-$1B nonprofits • Source year 2015

Liabilities / Revenue

85th percentile

4.68x

Higher debt load relative to revenue than 85% of similar nonprofits.

2015 filings • $250M-$1B nonprofits • Source year 2015

Net Margin

41st percentile

4.7%

Higher net margin than 41% of similar nonprofits.

2015 filings • $250M-$1B nonprofits • Source year 2015

Top Officer Pay

72nd percentile

$1,100,661

Higher top officer pay than 72% of similar nonprofits.

Top officer pay equals 0.9% of source-year revenue.

2015 filings • $250M-$1B nonprofits • Source year 2015

Asset Growth

94th percentile

25%

Faster asset growth than 94% of similar nonprofits.

2015 filings • $250M-$1B nonprofits • Annualized from 2014 to 2015

Revenue Growth

32nd percentile

-0.2%

Faster revenue growth than 32% of similar nonprofits.

2015 filings • $250M-$1B nonprofits • Annualized from 2014 to 2015

Assets

Up

$630,478,548

Up $125,915,255 (+25%) from 2014

Net Assets

Up

$68,118,367

Up $4,880,062 (+7.7%) from 2014

Liabilities

Up

$562,360,181

Up $121,035,193 (+27%) from 2014

Revenue

Down

$120,237,596

Down $268,143 (-0.2%) from 2014

Expenses

Up

$114,604,665

Up $7,935,359 (+7.4%) from 2014

Net Income

Down

$5,632,931

Down $8,203,502 (-59%) from 2014

Historical Trend

Balance Sheet Trend

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

$1.5B$1.0B$500M$0Assets 2010: $316,542,111Liabilities 2010: $300,987,291Net Assets 2010: $15,554,8202010Assets 2011: $397,917,086Liabilities 2011: $371,219,264Net Assets 2011: $26,697,8222011Assets 2012: $341,959,708Liabilities 2012: $316,432,445Net Assets 2012: $25,527,2632012Assets 2014: $504,563,293Liabilities 2014: $441,324,988Net Assets 2014: $63,238,3052014Assets 2015: $630,478,548Liabilities 2015: $562,360,181Net Assets 2015: $68,118,3672015Assets 2016: $546,783,254Liabilities 2016: $485,548,385Net Assets 2016: $61,234,8692016Assets 2018: $571,903,077Liabilities 2018: $492,965,379Net Assets 2018: $78,937,6982018Assets 2019: $472,166,271Liabilities 2019: $407,693,065Net Assets 2019: $64,473,2062019Assets 2020: $659,617,453Liabilities 2020: $605,943,223Net Assets 2020: $53,674,2302020Assets 2021: $841,134,806Liabilities 2021: $789,323,678Net Assets 2021: $51,811,1282021Assets 2022: $1,051,779,021Liabilities 2022: $983,078,281Net Assets 2022: $68,700,7402022

Highlighted filing

2015

Assets$630,478,548
Liabilities$562,360,181
Net Assets$68,118,367

Operations Trend

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

$200M$150M$100M$50M$0-$50MExpenses 2010: $80,559,9172010Expenses 2011: $83,792,1212011Expenses 2012: $93,190,2582012Revenue 2014: $120,505,739Expenses 2014: $106,669,306Net Income 2014: $13,836,4332014Revenue 2015: $120,237,596Expenses 2015: $114,604,665Net Income 2015: $5,632,9312015Revenue 2016: $116,733,015Expenses 2016: $119,568,238Net Income 2016: -$2,835,2232016Revenue 2018: $126,729,655Expenses 2018: $125,136,116Net Income 2018: $1,593,5392018Revenue 2019: $131,474,320Expenses 2019: $144,120,389Net Income 2019: -$12,646,0692019Revenue 2020: $136,916,005Expenses 2020: $148,328,210Net Income 2020: -$11,412,2052020Revenue 2021: $173,227,443Expenses 2021: $177,301,024Net Income 2021: -$4,073,5812021Revenue 2022: $182,282,596Expenses 2022: $169,629,993Net Income 2022: $12,652,6032022

Highlighted filing

2015

Revenue$120,237,596
Expenses$114,604,665
Net Income$5,632,931
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
May 16, 2016
Return Version
2014v6.0
Gross Receipts
$120,252,033
Mission and Program Overview

Mission

To negotiate and administer maritime labor agreements with the international longshore & warehouse union. The membership of pma consists of domestic carriers, international carriers and stevedores that operate in california, oregon, and washington. The labor agreements pma negotiates on behalf of its members cover wages, employee benefits, and conditions of employment for workers employed at longshore, marine clerk, and walking boss/foreman jobs.

To negotiate and administer maritime labor agreements with the agreements with the international longshore & warehouse union.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$380,089,717$470,913,502▲ $90,823,785
Accounts Receivable$72,489,002$104,371,243▲ $31,882,241
Cap Stk Tr Prin Current Funds$63,238,305$68,118,367▲ $4,880,062
Land, Buildings, and Equipment, Net$42,997,445$46,090,080▲ $3,092,635
Savings and Temporary Cash Investments$5,558,349$5,571,407▲ $13,058
Prepaid Expenses and Deferred Charges$1,629,360$1,345,255▼ $284,105
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Rtn Earn Endowment Incm Other Fnds$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$504,563,293$630,478,548▲ $125,915,255
Other Assets Total$1,799,420$2,187,061▲ $387,641
Liabilities
Other Liabilities$426,215,117$520,903,931▲ $94,688,814
Unsecured Notes Loans Payable$0$29,000,000▲ $29,000,000
Accounts Payable and Accrued Expenses$15,109,871$12,456,250▼ $2,653,621
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$441,324,988$562,360,181▲ $121,035,193
Net Assets / Fund Balance
Total Net Assets Fund Balance$63,238,305$68,118,367▲ $4,880,062
Total Liabilities and Net Assets / Fund Balance$504,563,293$630,478,548▲ $125,915,255

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$27,429,339$9,570,380$36,999,719
Other Land Buildings$7,737,926$9,926,900$17,664,826
Equipment$4,461,553$5,348,289$9,809,842
Land$5,571,148-$5,571,148
Leasehold Improvements$890,114$3,727,570$4,617,684
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
James MckennaCEO/SVPFT$481,790$596,463$1,078,253
Craig EppersonSVPFT$339,549$385,739$725,288
Michael WechslerCFO/SVPFT$320,165$358,764$678,929
Stephen HennesseyCOO/SVPFT$309,253$319,864$629,117
Kenneth Chad LindsayVP Labor RelationsFT$221,323$117,810$339,133
Carol BeattyVP ControllerFT$201,063$101,985$303,048
William AlversonVP Contract Implmntn/complncFT$183,621$110,913$294,534
KATHLEEN O'SULLIVANAttorney IiiFT$190,190$69,894$260,084
Todd AmidonAttorney IiiFT$186,297$62,300$248,597

Board Members and Trustees

NameTitle
Al GebhardtDirector
Christian Von KannewurffDirector
Edward a DenikeDirector
Michael RadakDirector
Ron ForestDirector
Ronnie ArmstrongDirector
Roy AmalfitanoDirector
Tf HauDirector
Walter RomanowskiDirector
David ArsenaultDirector (since 03/2015)
George LangDirector (until 03/2015)
William HamlinDirector (until 05/2015)

Highest Paid Contractors

ContractorServicesLocationCompensation
Seyfarth Shaw LLPLegal Services3807 COLLECTIONS CENTER DRIVE, Chicago, IL 60693$3,461,279
Morgan Lewis Bockius LLPLegal Services300 SOUTH GRAND AVE 22ND FLOOR, Los Angeles, CA 90071-3132$3,264,453
Gibson Dunn Cruthcer LLPLegal ServicesPO BOX 840723, Los Angeles, CA 90084-0723$1,130,771
Barran Libman LLPLegal Services601 SW SECOND AVENUE 2300, Portland, OR 97204-3159$426,285
Pricewaterhousecoopers LLPAccounting / Tax3109 DR ML KING JR BLVD, Tampa, FL 33607$411,659
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$119,067,383
Investment Income
$60,002
Other Revenue
$1,110,211
Change in Net Assets
$5,632,931
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$92,631,822
Salaries, Compensation, and Employee Benefits$21,972,843
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$13,282,895
Fees for Services Legal---$9,594,013
Fees for Services Other---$7,116,020
Current Officers, Directors, Trustees, and Key Employees---$3,186,607
Other Employee Benefits---$2,721,554
Other Expenses---$2,643,971
Depreciation Depletion---$2,593,839
Office Expenses---$2,145,318
Occupancy---$2,067,194
Pension Plan Contributions---$1,740,393
Information Technology---$1,581,966
Insurance---$1,118,188
Travel---$1,084,708
Payroll Taxes---$1,041,394
All Other Expenses---$807,941
Conferences and Meetings---$489,946
Fees for Services Accounting---$334,134
Total Functional Expenses$0$0$0$114,604,665
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
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Matthew MckennaSee Part VEmploymentNo$94,767
Nicole RomanowskiSee Part VEmploymentNo$71,712

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Antcpted Employer Obligations$419,788,814
Payable to Longshore Payroll$69,112,211
Accrued Post-retirement Benfts$31,379,195
Other Liabilities$623,711
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
Yes
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
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

PART VI, LINE 2:

Craig epperson, james mckenna & michael wechsler, business relationship. Edward a. Denike and ron forest, business relationship. Ron forest and william hamlin, business relationship.

PART VI, LINE 6:

The membership of pma consists of domestic carriers, international carriers, and stevedores/non-carriers that operate in california, oregon, and washington.

PART VI, LINE 7A:

Pma's bylaws set forth the process by which members elect the board of directors. Voting strength is determined by membership class (domestic carrier, international carrier, or stevedore/non-carrier) and tonnage or payroll hours.

PART VI, LINE 7B:

Pma's bylaws set forth the membership's role in approving board of directors' decisions, such as decisions regarding dues and assessments, union contracts and commitments, and revising the bylaws.

PART VI, LINES 8A & 8B:

Documentation is promptly drafted and finalized as soon as practicable; however, this process may take longer than 60 days after the meeting or the action or by the next meeting.

PART VI, LINE 11B:

Data was compiled and reviewed by pma's accounting and legal departments, including responses to questionnaires by directors and officers/key employees; an independent audit firm reviewed the data and prepared the form; the form was reviewed and approved by the ceo, legal department, and controller, prior to signing by pma's senior vice president/cfo.

PART VI, LINES 12B & 12C:

Directors, officers and key employees receive annual questionnaires focused on categories of potential conflicts identified on the form 990. Potential conflicts disclosed are reviewed by pma's legal department. The code of conduct (which includes the conflict of interest policy) is provided to new hires, and is available on pma's intranet website. Any complaints are promptly and thoroughly investigated by pma's legal department.

PART VI, LINES 15A & 15B:

In previous years, a compensation consultant was engaged to advise the board on ceo and key employee compensation, and is used from time to time to provide updated information to the compensation committee of the board of directors. The compensation committee annually reviews ceo and key employee total compensation and submits compensation levels for the next year to the board of directors for recommendation and approval.

PART VI, LINE 19:

The organization's governing documents, conflict of interest policy, and financial statements are not available to the public.

Filing and Contact Details

Filer

Filer Name
Pacific Maritime Association
EIN
94-2914940
In Care Of
% CRAIG EPPERSON
Phone
4155763200
Address
555 MARKET STREET, SAN FRANCISCO, CA 94105-2800

Signing Officer

Name
Michael Wechsler
Title
CFO/SVP
Phone
4155763200
Signed
2016-05-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
James Mckenna
Formed
1949
Legal Domicile
CA
Voting Board Members
10
Independent Board Members
9
Employees
158
Volunteers
12

Preparer

Firm
Pricewaterhousecoopers Llp
Address
600 13TH STREET NW SUITE 1000, WASHINGTON, DC 20005-3005
Preparer
Travis L Patton
Phone
2024141000
Supplemental Narrative

Additional Explanations

PART XI, LINE 9:

Change in value of pension cost ($991,894) change in equity of subsidiary $239,025 ---------- total part xi, line 9 ($752,869)

Financial Statement Notes

PART X, LINE 2:

Fin 48 footnote the company had no uncertain tax positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements at june 30, 2015 and 2014. The company is no longer subject to income tax examinations for the years ending prior to june 30, 2011.

Raw XML AppendixShowing 400 of 807 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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