Independence Seaport Museum (EIN 231584971) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1960

Legal Domicile

Principal Officer

KENNETH WOOD

Phone

2154138655

Tax Period

2023-07-01 to 2024-06-30

Independence Seaport Museum, founded in 1960, is a community nonprofit in the Arts, Culture & Humanities sector that reported $4.2M in total revenue in fiscal year 2023. Revenue surged 37% from the prior year, signaling strong growth momentum. Expenses of $5.7M exceeded revenue, resulting in a 36% operating deficit.

Mission

DISCOVER PHILADELPHIA'S RIVER OF HISTORY AND WORLD OF CONNECTIONS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $2,215,665

Program Service Revenue $508,079

Investment Income $727,542

Other Revenue $734,349

TOTAL REVENUE $4,185,635

Expense Breakdown

Grants Paid $0

Salaries & Benefits $3,237,150

Fundraising Expenses $463,215

Program Expenses $4,435,691

Other Expenses $2,445,428

TOTAL EXPENSES $5,682,578

Year-over-Year Comparison

	2023	2022	Change
Revenue	$4,185,635	$3,050,797	+0.4%
Expenses	$5,682,578	$5,133,522	+0.1%
Net Income	$-1,496,943	$-2,082,725	-0.3%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✓ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✓ Engaged in Lobbying

✗ Operated Donor Advised Fund

✓ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$365,511

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Peter Seibert	CEO & President	40.0	Officer	$201,800	$15,223	$217,023
Michael Flynn	Executive VP and COO	40.0	Officer	$135,749	$12,739	$148,488
Jaewook Shim	Controller	40.0	Highest	$104,182	$10,042	$114,224
Judy Baker	Dir. of HR & Volunteer Program	33.0	Highest	$104,703	$5,831	$110,534
Peter Ernst	Chair	0.5	Officer Director	$0	$0	$0
Courtney Disston	Vice-Chair	0.5	Officer Director	$0	$0	$0
Thomas G Ashton	Vice-Chair	0.5	Officer Director	$0	$0	$0
James T Giles	Secretary	0.5	Officer Director	$0	$0	$0
Kenneth Wood	Treasurer	1.0	Officer Director	$0	$0	$0
John C Devereux	Director	0.5	Director	$0	$0	$0
George A Donnelly Esq	Director	0.5	Director	$0	$0	$0
Deborah Gibbons-Neff	Director	0.5	Director	$0	$0	$0
Brett E J Gorman	Director	0.5	Director	$0	$0	$0
Robert T Healey Jr	Director	0.5	Director	$0	$0	$0
Scott G Huston	Director	0.5	Director	$0	$0	$0
Erik C Klein	Director	0.5	Director	$0	$0	$0
Joseph B Lockley	Director	0.5	Director	$0	$0	$0
William F Moen Jr	Director	0.5	Director	$0	$0	$0
Tim McGrath	Director	0.5	Director	$0	$0	$0
Joanne Phillips Esq	Director	0.5	Director	$0	$0	$0
Hon Judge Annette Rizzo	Director	0.5	Director	$0	$0	$0
John P Ventura	Director	0.5	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	No data	No data	No data	No data
2024	$4,185,635	$5,682,578	$21,826,969	$-1,496,943
2023	$3,050,797	$5,133,522	$21,290,179	$-2,082,725
2022	$3,083,203	$4,759,833	$22,539,825	$-1,676,630
2021	$2,388,161	$4,314,588	$28,154,026	$-1,926,427
2020	$2,063,262	$4,908,259	$24,772,705	$-2,844,997
2019	$4,055,981	$5,856,160	$27,635,498	$-1,800,179
2018	$6,642,780	$5,999,363	$30,769,296	$643,417

Independence Seaport Museum