Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Apr 1961.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
82 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
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Who runs it and what they're paid
21 people listed on the 990; $349K paid to officers and key staff.
Peter Seibert’s $226K as CEO & President is at the 90th percentile of top reported officer pay among 3924 $1–10M arts & culture nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.
Compensation history total reportable pay by year · 8 named individuals · Part VII
| Name | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Peter Seibert | $226,226 | $201,800 | $179,901 | $138,175 | — | — |
| John Brady | — | — | — | — | $123,450 | $145,959 |
| Michael Flynn | $145,121 | $135,749 | $122,553 | $112,633 | $113,220 | $100,848 |
| Michael Timothy Madeja | $116,679 | — | — | — | — | — |
| Jaewook Shim | $112,465 | $104,182 | — | — | — | — |
| Jennifer Blasy | — | — | — | — | $112,200 | — |
| Judy Baker | $110,288 | $104,703 | — | — | — | — |
| Margaret Ann North | $100,648 | — | — | — | — | — |
Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.
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Questions the 990 asks
The form asks each of these directly. These are the filed answers.
- Family or business ties among officersPt VI · Ln 2No
- Top official's pay set by an independent reviewPt VI · Ln 15aYes
Programs and updates
Explores Philadelphia's river history and global connections through exhibits and collections.
Questions for Independence Seaport Museum
Your first name shows with your question. Independence Seaport Museum answers here, for everyone.
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Independence Seaport Museum hosted a variety of activities during 2020. The museum's exhibitions and programs were able to resume after locally enforced Covid closings. This included existing core programs such as the award winning exhibition River Alivea highly interactive exhibition that focuses on the environmental aspects of the…
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2021 990, line by line.
Download 990
| Line | Start FY21 | End FY21 |
|---|---|---|
| Cash and savingsLn 1–2 | $490K | $515K |
| InvestmentsLn 11–13 | $18.9M | $23.1M |
| Land, buildings, equipmentLn 10c | $5.2M | $4.2M |
| Total assetsLn 16 | $24.8M | $28.2M |
| LiabilitiesLn 26 | $1.4M | $1.6M |
| Net assetsLn 32 | $23.4M | $26.5M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Pay of current officers, directors and key staffLn 5 | $163K | $163K | ||
| Other salaries and wagesLn 7 | $1.5M | $1.1M | $203K | $196K |
| Other employee benefitsLn 9 | $334K | $253K | $41K | $40K |
| Payroll taxesLn 10 | $144K | $109K | $18K | $17K |
| Legal feesLn 11b | $28K | $18K | $7K | $3K |
| Accounting feesLn 11c | $40K | $26K | $10K | $4K |
| Investment management feesLn 11f | $108K | $71K | $28K | $10K |
| Other fees for servicesLn 11g | $52K | $34K | $13K | $5K |
| Advertising and promotionLn 12 | $33K | $20K | $7K | $6K |
| Office expensesLn 13 | $104K | $75K | $14K | $14K |
| OccupancyLn 16 | $411K | $370K | $29K | $12K |
| InterestLn 20 | $14K | $14K | ||
| Depreciation, depletion and amortizationLn 22 | $1.2M | $1.1M | $51K | $22K |
| InsuranceLn 23 | $117K | $106K | $6K | $5K |
| Other expenses (24a–d)Ln 24 | $96K | $88K | $2K | $6K |
| Total functional expensesLn 25 | $4.3M | $3.5M | $443K | $338K |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 Latest | $3.3M | $6.4M | −$3.1M | $17.9M | 990 PDF |
| FY2024 | $4.2M | $5.7M | −$1.5M | $20.2M | 990 PDF |
| FY2023 | $3.1M | $5.1M | −$2.1M | $20.4M | 990 PDF |
| FY2022 | $3.1M | $4.8M | −$1.7M | $21.6M | 990 PDF |
| FY2021 Viewing | $2.4M | $4.3M | −$1.9M | $26.5M | 990 PDF |
| FY2020 | $2.1M | $4.9M | −$2.8M | $23.4M | 990 PDF |
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Schedules filed Part IV
See the full FY2021 990 (6 parts)
Part I · Summary $2,388,161 revenue, 12 lines filed
Part VI · Governance 17 of 17 board members independent, no flags
Part VIII · Statement of revenue $2,388,161 across 10 lines filed
Part IX · Statement of functional expenses $4,314,588 across 15 lines filed
Part X · Balance sheet $28,154,026 assets, 19 lines filed
Part XI · Reconciliation of net assets $26,511,496 net assets at year end
Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File
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