World Shipping Council
- Assets
- $11.0m
- Revenue
- $8.4m
- Investments
- $0.0
- Employees
- 8
- Location
- Washington, DC
- Founding
- 11/2000
- Data as of
- 07/2023
- EIN
- 52-2265096
Organization Overview
World Shipping Council is located in Washington, DC. The organization was established in 2000. 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 07/2023, World Shipping Council employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. World Shipping Council 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 07/2023, World Shipping Council generated $8.4m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 16.2% each year . All expenses for the organization totaled $8.5m during the year ending 07/2023. While expenses have increased by 16.6% per year over the past 7 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
OUR MISSION IS TO PROVIDE A COORDINATED VOICE FOR THE LINER SHIPPING INDUSTRY IN ITS WORK WITH POLICYMAKERS & OTHER INDUSTRY GROUPS WITH AN INTEREST IN INTERNATIONAL TRANSPORTATION
Describe the Organization's Program Activity:
Part 3 - Line 4a
MARITIME SAFETY AND SECURITY ISSUES - SEE SCHEDULE O
ENVIRONMENTAL ISSUES - SEE SCHEDULE O
LINER SHIPPING REGULATORY SYSTEM - SEE SCHEDULE O
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John W Butler President/ceo | Officer | 40 | $625,000 |
Lars Kjaer Senior Vice President | Officer | 40 | $312,306 |
Bryan Wood-Thomas Vice President, Environ Policy | Officer | 40 | $296,958 |
James Corbett Environmental Director, Europe | 40 | $285,000 | |
Kenneth Chia Director Of Asia | 40 | $312,866 | |
Joseph Kramek Director, Us Govern Relation | 40 | $225,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cozen O'connor Legal Services | 7/30/23 | $430,596 |
Mayer Brown Llp Legal Services | 7/30/23 | $328,173 |
Seven Letter Consulting | 7/30/23 | $273,900 |
Crossroads Strategies Consulting | 7/30/23 | $165,000 |
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 | $8,359,917 |
| Investment income | $68,100 |
| 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 | $8,428,017 |
| 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. | $1,601,426 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,534,143 |
| Pension plan accruals and contributions | $151,678 |
| Other employee benefits | $100,434 |
| Payroll taxes | $112,306 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,928,840 |
| Fees for services: Accounting | $38,435 |
| Fees for services: Lobbying | $65,465 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $747,300 |
| Advertising and promotion | $0 |
| Office expenses | $208,800 |
| Information technology | $48,103 |
| Royalties | $0 |
| Occupancy | $440,770 |
| Travel | $435,740 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $36,608 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $27,710 |
| Insurance | $8,006 |
| All other expenses | $0 |
| Total functional expenses | $8,485,764 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $521,946 |
| Savings and temporary cash investments | $8,683,097 |
| 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 | $25,937 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $25,401 |
| Other assets | $1,756,189 |
| Total assets | $11,012,570 |
| Accounts payable and accrued expenses | $230,733 |
| Grants payable | $0 |
| Deferred revenue | $6,208,568 |
| 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 | $1,957,475 |
| Total liabilities | $8,396,776 |
| Net assets without donor restrictions | $2,615,794 |
| 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 | $11,012,570 |