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Interferry INC FY2021 filing

VictoriaUnknown exempt organizationEIN 61-1764907Revenue $1.5M in FY2021

On file with the IRSinterferry.comPo Box 53532 Rpo Broadmead · Victoria

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Interferry, Inc. is a worldwide alliance of ferry owners, operators, and associated marine industries, all of whom provide a forum for sharing knowledge and ideas to promote and enhance the unique and special transportation services of the ferry industry. It has over 200 members from 35 countries.The two primary activities of Interferry are the annual conference and the representation of the industry with respect to international shipping regulations.

35¢ of each $1 spent went to programs.
$505K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

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FY2021 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $149K a year · 9% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
35%
of spending
Concern: 35% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$505K
to officers and key staff · 34% of spending
Concern: pay to officers and key staff is 34% of spending; over 30%.
Pt VII · Sec A
Cash reserves
9 mo
of spending, in cash
Looks good: 9.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$224K
18% of total assets
Looks good: liabilities are 18% of assets; 50% or less.
Pt X · Ln 26
Independent board members
255
of 255 voting members
Looks good: 255 of 255 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.5M
+91% vs prior year
Spent
$1.5M
To programs
35%
Net assets
$1.0M
By yearFY2020–FY2024
Revenue
$1.5M
FY2021▲ +91%
Tap a bar for its year
Revenue by fiscal year
FY2020$799K
FY2021$1.5M
FY2022$2.0M
FY2023$2.0M
FY2024$2.0M
Expenses
$1.5M
FY2021▲ +65%
Tap a bar for its year
Expenses by fiscal year
FY2020$894K
FY2021$1.5M
FY2022$1.8M
FY2023$1.6M
FY2024$2.0M
Net assets
$1.0M
FY2021▲ +3%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.0M
FY2021$1.0M
FY2022$1.3M
FY2023$1.8M
FY2024$1.8M

From the FY2021 Form 990 · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

35 cents of each dollar spent went to programs.

Program services 35% · $519K Management & general 65% · $954K

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; $505K paid to officers and key staff.

Part VII, Section A · reportable compensation
Johan Roos
Key Employee
$198,955Pt VII · Sec A
Mike Corrigan
CEO/Secretary
$189,071Pt VII · Sec A
Shari Corrigan
Key Employee
$116,673Pt VII · Sec A
Christophe Mathieu
Chairman/President
$0Pt VII · Sec A
Tim Mooney
Vice Chairman
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 4 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Mike Corrigan$249,672$224,741$209,022$189,071$186,526
Johan Ross$213,293$186,838———
Johan Roos——$195,901$198,955$195,660
Shari Corrigan———$116,673$118,215

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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Promotes and enhances the ferry industry through knowledge sharing and regulatory representation.

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Provided by the organization

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2 programs · $1.5M · in their own filed words · FY2021
01

General operating including representing world-wide ferry industry to international shipping regulators

$954Kprogram expense
02

Annual Members Conference

$519Kprogram expense

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.5M
Ln 12
Fees for servicesLn 2g$1.5M
Investment incomeLn 3$428
Money outPt IX
$1.5M
Ln 25
Programscol B$519K
Managementcol C$954K
Owns and owesPt X
$1.0M
net assets · Ln 32
Cash and savingsLn 1–2$1.1M
Total assetsLn 16$1.3M
LiabilitiesLn 26$224K
PeoplePt VI, VII
21
listed · VII A
PaidVII A3
Voting boardVI 1a255
IndependentVI 1b255
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$1.5M
Investment incomeLn 3$428
Total revenueLn 12$1.5M
Assets in detailPt X, end of year
CashLn 1$1.1M
Cash and savings togetherLn 1–2$1.1M
Land, buildings, equipmentLn 10c$0
Other assetsLn 15$5K
Total assetsLn 16$1.3M
LiabilitiesLn 26$224K
Net assetsLn 32$1.0M
OperationsPt I, VI
EmployeesI 50
VolunteersI 617
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$1.2M$1.1M
Land, buildings, equipmentLn 10c$242$0
Total assetsLn 16$1.2M$1.3M
LiabilitiesLn 26$216K$224K
Net assetsLn 32$988K$1.0M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$531K$531K
Advertising and promotionLn 12$190K$190K
Office expensesLn 13$44K$44K
Conferences, conventions and meetingsLn 19$519K$519K
InterestLn 20$23K$23K
Depreciation, depletion and amortizationLn 22$242
Other expenses (24a–d)Ln 24$148K$148K
All other expensesLn 24e$17K$17K
Total functional expensesLn 25$1.5M$519K$954K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $2.0M$2.0M$49K$1.8M 990 PDF
FY2023 $2.0M$1.6M$462K$1.8M 990 PDF
FY2022 $2.0M$1.8M$270K$1.3M 990 PDF
FY2021 Viewing $1.5M$1.5M$57K$1.0M 990 PDF
FY2020 $799K$894K−$95K$1.0M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2021 990 (6 parts)
Part I · Summary $1,529,650 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $795,205$1,529,222
I-10 Investment incomePrior year $4,104$428
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $799,309$1,529,650
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $497,966$530,763
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $426,195$942,205
I-18 Total expensesPrior year $924,161$1,472,968
I-19 Revenue less expensesPrior year −$124,852$56,682
Part VI · Governance 255 of 255 board members independent, 5 to look at
VI-1a Voting members of the governing body255
VI-1b Independent voting members255
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
Part VIII · Statement of revenue $1,529,650 across 3 lines filed
Lines not itemized here account for $46,607 of total revenue; see the IRS return.
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,482,615$1,482,615
VIII-3 Investment incomeRelated to mission $428$428
VIII-12 Total revenueRelated to mission $1,529,650 · Unrelated business $0 · Excluded from tax $0$1,529,650
Part IX · Statement of functional expenses $1,472,968 across 8 lines filed
IX-7 Other salaries and wagesManagement $530,763$530,763
IX-12 Advertising and promotionManagement $190,304$190,304
IX-13 Office expensesManagement $43,577$43,577
IX-19 Conferences, conventions and meetingsPrograms $519,071$519,071
IX-20 InterestManagement $23,439$23,439
IX-22 Depreciation, depletion and amortization$242
IX-24 Other expenses (24a–d)Management $148,251$148,251
IX-24e All other expensesManagement $17,321$17,321
IX-25 Total functional expensesPrograms $519,071 · Management $953,655 · Fundraising $0$1,472,968
Part X · Balance sheet $1,268,355 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $1,160,636$1,145,450
X-4 Accounts receivableStart of year $37,489$49,396
X-9 Prepaid expenses and deferred chargesStart of year $832$68,156
X-10c Land, buildings and equipment, netStart of year $242$0
X-15 Other assetsStart of year $5,353$5,353
X-16 Total assetsStart of year $1,204,552$1,268,355
X-17 Accounts payable and accrued expensesStart of year $122,729$163,263
X-19 Deferred revenueStart of year $93,682$60,269
X-26 Total liabilitiesStart of year $216,411$223,532
X-32 Total net assets or fund balancesStart of year $988,141$1,044,823
X-33 Total liabilities and net assetsStart of year $1,204,552$1,268,355
Part XI · Reconciliation of net assets $1,044,823 net assets at year end
XI-1 Total revenue$1,529,650
XI-2 Total expenses$1,472,968
XI-3 Revenue less expenses$56,682
XI-4 Net assets at start of year$988,141
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,044,823

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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