Civic Intelligence

Pacific Maritime Association

990 • Fiscal year 2017 • EIN 94-2914940

Jul 01, 2016 to Jun 30, 2017 • Filed on May 02, 2018

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

82nd percentile

0.87x

Higher debt load relative to assets than 82% of similar nonprofits.

2017 filings • $250M-$1B nonprofits • Source year 2017

Liabilities / Revenue

83rd percentile

4.06x

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

2017 filings • $250M-$1B nonprofits • Source year 2017

Net Margin

55th percentile

7.0%

Higher net margin than 55% of similar nonprofits.

2017 filings • $250M-$1B nonprofits • Source year 2017

Top Officer Pay

71st percentile

$1,106,147

Higher top officer pay than 71% of similar nonprofits.

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

2017 filings • $250M-$1B nonprofits • Source year 2017

Asset Growth

47th percentile

5.6%

Faster asset growth than 47% of similar nonprofits.

2017 filings • $250M-$1B nonprofits • Annualized from 2016 to 2017

Revenue Growth

52nd percentile

6.4%

Faster revenue growth than 52% of similar nonprofits.

2017 filings • $250M-$1B nonprofits • Annualized from 2016 to 2017

Assets

Up

$577,558,772

Up $30,775,518 (+5.6%) from 2016

Net Assets

Up

$73,770,712

Up $12,535,843 (+20%) from 2016

Liabilities

Up

$503,788,060

Up $18,239,675 (+3.8%) from 2016

Revenue

Up

$124,189,777

Up $7,456,762 (+6.4%) from 2016

Expenses

Down

$115,526,989

Down $4,041,249 (-3.4%) from 2016

Net Income

Up

$8,662,788

Up $11,498,011 (+406%) from 2016

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 2016: $546,783,254Liabilities 2016: $485,548,385Net Assets 2016: $61,234,8692016Assets 2017: $577,558,772Liabilities 2017: $503,788,060Net Assets 2017: $73,770,7122017Assets 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

2017

Assets$577,558,772
Liabilities$503,788,060
Net Assets$73,770,712

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 2016: $116,733,015Expenses 2016: $119,568,238Net Income 2016: -$2,835,2232016Revenue 2017: $124,189,777Expenses 2017: $115,526,989Net Income 2017: $8,662,7882017Revenue 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

2017

Revenue$124,189,777
Expenses$115,526,989
Net Income$8,662,788
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
May 2, 2018
Return Version
2016v3.1
Gross Receipts
$124,207,366
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$398,225,573$448,280,543▲ $50,054,970
Cap Stk Tr Prin Current Funds$61,234,869$73,770,712▲ $12,535,843
Accounts Receivable$91,870,798$73,170,241▼ $18,700,557
Land, Buildings, and Equipment, Net$47,002,658$46,617,779▼ $384,879
Savings and Temporary Cash Investments$5,262,952$5,276,098▲ $13,146
Prepaid Expenses and Deferred Charges$1,921,065$1,587,341▼ $333,724
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$546,783,254$577,558,772▲ $30,775,518
Other Assets Total$2,500,208$2,626,770▲ $126,562
Liabilities
Other Liabilities$441,922,863$487,923,805▲ $46,000,942
Accounts Payable and Accrued Expenses$14,234,181$15,131,267▲ $897,086
Unsecured Notes Loans Payable$29,391,341$732,988▼ $28,658,353
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$485,548,385$503,788,060▲ $18,239,675
Net Assets / Fund Balance
Total Net Assets Fund Balance$61,234,869$73,770,712▲ $12,535,843
Total Liabilities and Net Assets / Fund Balance$546,783,254$577,558,772▲ $30,775,518

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$26,686,166$10,368,880$37,055,046
Other Land Buildings$9,633,714$13,239,527$22,873,241
Equipment$3,615,398$5,952,313$9,567,711
Land$5,571,148-$5,571,148
Leasehold Improvements$1,111,353$3,397,182$4,508,535
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
James MckennaCEOFT$500,718$579,535$1,080,253
Craig EppersonSVPFT$352,893$395,201$748,094
Michael WechslerSVP/CFOFT$332,501$387,077$719,578
Stephen HennesseyCOO/SVPFT$321,159$305,478$626,637
Kenneth Chad LindsayVP Labor RelationsFT$230,503$115,786$346,289
William AlversonVP Contract Implmntn/complncFT$192,798$102,246$295,044
Stephen Bradley PerkinsAtorney IiiFT$195,946$96,696$292,642
KATHLEEN O'SULLIVANAttorney IiiFT$203,042$78,547$281,589
Todd AmidonAttorney IiiFT$203,190$77,023$280,213

Board Members and Trustees

NameTitle
Al GebhardtDirector
Edward a DenikeDirector
Frank GrossiDirector
Frank PisanoDirector
Marc BourdonDirector
Ron ForestDirector
Roy AmalfitanoDirector
Walter RomanowskiDirector
William PayneDirector
Chris ParvinDirector (from 12/16)
George PashaDirector (from 12/16)
Michael RadakDirector (until 11/16)

Highest Paid Contractors

ContractorServicesLocationCompensation
Seyfarth Shaw LLPLegal Services3807 COLLECTIONS CENTER DRIVE, Chicago, IL 60693$4,439,131
Procase Consulting INCSupport Services1 HARTFORD ROAD, Orinda, CA 94563$3,356,089
Morgan Lewis Bockius LLPLegal Services1701 MARKET STREET, Philadelphia, PA 19103$2,937,181
Pacific Merchant Shipping AssociatiSupport Services70 WASHINGTON ST SUITE 305, Oakland, CA 94607$2,016,667
Integreon Managed Solutions Nd INCSupport ServicesDEPT 16807, Palatine, IL 60055$1,184,169
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$122,178,910
Investment Income
$3,413
Other Revenue
$2,007,454
Change in Net Assets
$8,662,788
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$90,288,180
Salaries, Compensation, and Employee Benefits$25,238,809
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$14,073,904
Fees for Services Legal---$10,482,548
Fees for Services Other---$7,416,218
Other Employee Benefits---$5,648,799
Current Officers, Directors, Trustees, and Key Employees---$3,363,538
Occupancy---$2,666,185
Other Expenses---$2,591,348
Depreciation Depletion---$2,580,020
Office Expenses---$2,362,366
Information Technology---$1,617,220
All Other Expenses---$1,558,777
Payroll Taxes---$1,082,474
Pension Plan Contributions---$1,070,094
Insurance---$1,019,937
Conferences and Meetings---$419,072
Travel---$390,404
Fees for Services Accounting---$379,909
Total Functional Expenses$0$0$0$115,526,989
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
In-house lobbying only
No
Subject to proxy tax
Yes

Reported Spending and Taxes

Line ItemAmount
Current Year Nondeductible Lobbying and Political Cost$11,667
Total Nondeductible Lobbying and Political Cost$11,667
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Matthew MckennaSee Part VEmploymentNo$125,024
Nicole RomanowskiSee Part VEmploymentNo$99,894

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
Anticipated Employer Obligations$441,215,179
Accrued Post-retirement Benfts$31,638,214
Payable to Longshore Payroll$12,793,615
Other Liabilities$2,276,797
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
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, ron forest, business relationship. Ron forest, michael radak, 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, including schedule l reportable transactions. Potential conflicts disclosed are reviewed 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
2018-05-02
Discuss with paid preparer
Yes

Organization Details

Principal Officer
James Mckenna
Formed
1949
Legal Domicile
CA
Voting Board Members
11
Independent Board Members
10
Employees
138
Volunteers
12

Preparer

Firm
PricewaterhouseCoopers LLP
Address
THREE EMBARCADERO CENTER, SAN FRANCISCO, CA 94111
Preparer
Matthew Petroski
Phone
4154985000
Supplemental Narrative

Additional Explanations

PART XI, LINE 9:

Change in value of pension cost $3,819,329 change in equity of subsidiary $ 53,726 ---------- total part xi, line 9 $3,873,055

Financial Statement Notes

PART X, LINE 2:

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, 2017 and 2016. The company is no longer subject to income tax examinations for the years ending prior to june 30, 2013.

Raw XML AppendixShowing 400 of 861 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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IRS990/MissionDesc0TO 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.
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IRS990/OtherRevenueMiscGrp/Desc0MANAGEMENT FEES
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