Passenger Vessel Association
- Assets
- $3.8m
- Revenue
- $1.7m
- Investments
- $205.8k
- Employees
- 5
- Location
- Alexandria, VA
- Founding
- 11/1986
- Data as of
- 12/2021
- EIN
- 52-1372232
Organization Overview
Passenger Vessel Association is located in Alexandria, VA. The organization was established in 1986. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Passenger Vessel Association employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Passenger Vessel Association 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 12/2021, Passenger Vessel Association generated $1.7m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.4%) each year. All expenses for the organization totaled $1.6m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (2.3%) per year over the past 7 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
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.
Describe the Organization's Program Activity:
Part 3 - Line 4a
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.
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.
MARITRENDS CONVENTION: THE ASSOCIATION PRESENTS A CONVENTION TO PROVIDE THE OPPORTUNITY FOR EXCHANGE OF INFORMATION RELATED TO THE PASSENGER VESSEL INDUSTRY.
THE ASSOCIATION ADDITIONAL PROMOTES GOVERNMENT RELATIONS AND COMMUNICATIONS REGARDING ISSUES AFFECTING THE PASSENGER VESSEL INDUSTRY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Groundwater Executive Director | Officer | 40 | $312,116 |
Edmund Welch Legislative Director | Officer | 40 | $172,787 |
Eric Christensen Director Of Regulatory Affairs And Risk Management | Officer | 40 | $158,838 |
Colleen Stephens President | OfficerTrustee | 2 | $0 |
Bob Bijur Vice-President | OfficerTrustee | 2 | $0 |
James Swindler Secretary-Treasurer | OfficerTrustee | 2 | $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 | $1,463,070 |
| Investment income | $43,908 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $169,510 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,676,488 |
| 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. | $789,561 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $125,753 |
| Pension plan accruals and contributions | $9,734 |
| Other employee benefits | -$176 |
| Payroll taxes | $44,865 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $29,775 |
| Fees for services: Accounting | $6,655 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $196,434 |
| Advertising and promotion | $111,302 |
| Office expenses | $4,218 |
| Information technology | $19,318 |
| Royalties | $0 |
| Occupancy | $61,493 |
| Travel | $6,111 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $31,355 |
| Interest | $384 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,389 |
| Insurance | $16,553 |
| All other expenses | $19,088 |
| Total functional expenses | $1,596,358 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $256,876 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $9,311 |
| 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 | $140,681 |
| Net Land, buildings, and equipment | $10,996 |
| Investments—publicly traded securities | $3,188,506 |
| Investments—other securities | $205,804 |
| Investments—program-related | $0 |
| Intangible assets | $1,500 |
| Other assets | $4,373 |
| Total assets | $3,818,047 |
| Accounts payable and accrued expenses | $349,840 |
| Grants payable | $0 |
| Deferred revenue | $810,400 |
| 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 | $9,427 |
| Total liabilities | $1,169,667 |
| Net assets without donor restrictions | $2,648,380 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $3,818,047 |
Endowment Analysis
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