Liberian Shipowners Council Ltd
- Assets
- $901.4k
- Revenue
- $463.1k
- Investments
- $0.0
- Employees
- 1
- Location
- Dulles, VA
- Founding
- 12/1976
- Data as of
- 12/2022
- EIN
- 23-7411166
Organization Overview
Liberian Shipowners Council Ltd is located in Dulles, VA. The organization was established in 1976. According to its NTEE Classification (A23) the organization is classified as: Cultural & Ethnic Awareness, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Liberian Shipowners Council Ltd is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2022, Liberian Shipowners Council Ltd generated $463.1k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.3% each year. All expenses for the organization totaled $300.5k during the year ending 12/2022. While expenses have increased by 0.4% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO SERVE AS A CONSULTATIVE ORGANIZATION FOR OWNERS AND OPERATORS OF LIBERIAN FLAG VESSELS AND TO PROMOTE THE MUTUAL INTERESTS OF SUCH OWNERS AND OPERATORS AND THE INTERNATIONAL SHIPPING INDUSTRY BY KEEPING MEMBERS APPRISED OF INDUSTRY DEVELOPMENTS AND BY PARTICIPATING ON BEHALF OF MEMBERS AT APPROPRIATE INTERNATIONAL AND NATIONAL MARINE TRANSPORTATION VENUES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONTINUED TO PROVIDE MEMBERS WITH INDUSTRY INTELLIGENCE THROUGH THE USE OF ADVANCE NOTICE OF ISSUES THAT IMPACT MEMBERS' BUSINESS.
TO SERVE AS A CONSULTATIVE ORGANIZATION FOR OWNERS AND OPERATORS OF LIBERIAN FLAG VESSELS AND TO PROMOTE THE MUTUAL INTERESTS OF SUCH OWNERS AND OPERATORS AND THE INTERNATIONAL SHIPPING INDUSTRY BY KEEPING MEMBERS APPRISED OF INDUSTRY DEVELOPMENTS AND BY PARTICIPATING ON BEHALF OF MEMBERS AT APPROPRIATE INTERNATIONAL AND NATIONAL MARINE TRANSPORTATION VENUES.
CONTINUED TO REPRESENT THE MEMBERS OF THE LIBERIAN SHIPOWNERS' COUNCIL AND THEIR INTERESTS TO RELEVANT GOVERNMENT AND PUBLIC STAKEHOLDERS.
CONTINUED TO PROVIDE MEMBERS WITH RESEARCH AND ANALYSIS OF INDUSTRY ISSUES DEVELOPED AFTER DISCUSSIONS WITH SHIPOWNERS, INDUSTRY GROUPS AND DIRECT SOURCE CONTACTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Salvatore D'amico Director | Trustee | $0 | |
Charles Bud Darr Director | Trustee | $0 | |
Adamantios M Lemos Chairman | Trustee | $0 | |
Mark Martecchini Director | Trustee | $0 | |
Charis Plakantonaki Director | Trustee | $0 | |
Vivek James Quadros Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $455,630 |
| Investment income | $7,519 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $463,149 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $160,032 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $5,000 |
| Payroll taxes | $11,526 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,854 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $11,140 |
| Advertising and promotion | $0 |
| Office expenses | $2,983 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $41,417 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $5,209 |
| All other expenses | $3,498 |
| Total functional expenses | $300,512 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $901,411 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $901,411 |
| Accounts payable and accrued expenses | $10,455 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $10,455 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $890,956 |
| Total liabilities and net assets/fund balances | $901,411 |