PASSENGER VESSEL ASSOCIATION INC

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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

1985

Legal Domicile

Principal Officer

JOHN GROUNDWATER

Phone

7035185005

Tax Period

2023-01-01 to 2023-12-31

PASSENGER VESSEL ASSOCIATION INC, founded in 1985, is a community nonprofit that reported $2.2M in total revenue in fiscal year 2023. Revenue grew 8% year-over-year, indicating healthy expansion. Expenses of $2.0M left a modest 8% surplus.

Mission

TO SERVE THE NEEDS OF OWNERS, OPERATORS, AND SUPPLIERS OF THE PASSENGER VESSEL INDUSTRY BY OFFERING EDUCATIONAL AND PUBLIC POLICY ASSISTANCE, BY SPONSORING AN ANNUAL CONVENTION FOR ITS MEMBERS, AND BY PUBLISHING A MONTHLY NEWSLETTER.

Program Service Accomplishments

Program 1

MEMBERSHIP DIRECTORY: PROMOTES THE INDUSTRY WITHIN THE TOUR AND TRAVEL COMMUNITY. PRODUCES A 224-PAGE MEMBERSHIP DIRECTORY FOR MEMBER INFORMATION AND USE BY TRAVEL AGENTS. PROVIDES LISTINGS OF ALL...

MEMBERSHIP DIRECTORY: PROMOTES THE INDUSTRY WITHIN THE TOUR AND TRAVEL COMMUNITY. PRODUCES A 224-PAGE MEMBERSHIP DIRECTORY FOR MEMBER INFORMATION AND USE BY TRAVEL AGENTS. PROVIDES LISTINGS OF ALL MEMBERS AND AFFILIATES OF THE PASSENGER VESSEL ASSOCIATION THROUGHOUT NORTH AMERICA.

Program 2

FOGHORN PUBLICATION: PROVIDES A MONTHLY NEWSLETTER TO EACH MEMBER THAT CONTAINS INFORMATION ON PUBLIC POLICIES IN WASHINGTON AND PROVIDES 5-6 MAILERS CONCERNING PRESS RELEASES. EACH PUBLICATION ALSO INCLUDES REPORTS BY EXPERTS WITHIN THE PASSENGER VESSEL INDUSTRY AND ARTICLES DISCUSSING A BROAD RANGE OF INDUSTRY TOPICS THAT INCLUDE OPERATIONAL EFFICIENCY, SAFETY, AND ENVIRONMENTAL CONCERNS.

Program 3

MARITRENDS CONVENTION: THE ASSOCIATION PRESENTS A CONVENTION TO PROVIDE THE OPPORTUNITY FOR EXCHANGE OF INFORMATION RELATED TO THE PASSENGER VESSEL INDUSTRY.

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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 $0

Program Service Revenue $1,955,809

Investment Income $183,285

Other Revenue $12,908

TOTAL REVENUE $2,152,002

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,139,747

Fundraising Expenses $0

Other Expenses $841,441

TOTAL EXPENSES $1,981,188

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,152,002	$1,987,575	+0.1%
Expenses	$1,981,188	$1,906,199	+0.0%
Net Income	$170,814	$81,376	+1.1%

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

$419,663

Total Directors

Key Employees

$180,028

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JAMES SWINDLER	PRESIDENT	2.00	Officer Director	$0	$0	$0
PATRICK MURPHY	VICE-PRESIDENT	2.00	Officer Director	$0	$0	$0
STEVE JONES	SECRETARY-TREASURER	2.00	Officer Director	$0	$0	$0
ROB MCMAHON	ASSOCIATE MEMBER REPRESENTATIVE	2.00	Director	$0	$0	$0
JEFF SHERMAN	ASSOCIATE MEMBER REPRESENTATIVE	2.00	Director	$0	$0	$0
BEN BERNSTEIN	DIRECTOR	2.00	Director	$0	$0	$0
BOB BIJUR	DIRECTOR	2.00	Director	$0	$0	$0
ERIK BOMBARD	DIRECTOR	2.00	Director	$0	$0	$0
JED DIXON	DIRECTOR	2.00	Director	$0	$0	$0
CAROL HILL	DIRECTOR	2.00	Director	$0	$0	$0
JOHN LAKE	DIRECTOR	2.00	Director	$0	$0	$0
SARAH PENNINGTON	DIRECTOR	2.00	Director	$0	$0	$0
HOYT PURINTON	DIRECTOR	2.00	Director	$0	$0	$0
ANDREW SARGIS	DIRECTOR	2.00	Director	$0	$0	$0
COLLEEN STEPHENS	DIRECTOR	2.00	Director	$0	$0	$0
JOHN GROUNDWATER	EXECUTIVE DIRECTOR	40.00	Officer	$353,502	$66,161	$419,663
EDMUND WELCH	SENIOR LEGISLATIVE DIRECTOR	40.00	Highest	$148,528	$55,537	$204,065
ERIC CHRISTENSEN	DIRECTOR OF REGULATORY AFFAIRS AND RISK MANAGEMENT	40.00	Key Emp	$169,649	$10,379	$180,028

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
2024	No data	No data	No data	No data
2023	$2,152,002	$1,981,188	$4,071,903	$170,814
2022	$1,987,575	$1,906,199	$3,669,434	$81,376
2021	$1,676,488	$1,596,358	$3,818,047	$80,130
2021	$1,676,488	$1,596,358	$3,818,047	$80,130
2020	$2,202,292	$1,998,797	$2,982,017	$203,495
2019	$2,317,702	$2,192,259	$3,455,911	$125,443
2018	$2,363,542	$2,079,630	$3,113,021	$283,912
2018	$2,363,542	$2,079,630	$3,113,021	$283,912