Form 990 for tax year 2023
Filed by NEW YORK SHIPPING ASSOCIATION INC.
Totals
- Total revenue
- $335,003,935
- Total expenses
- $233,857,375
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $321,368,528
- Investment income
- $13,635,407
- Other revenue
- $0
- Total assets, end of year
- $390,064,561
- Total liabilities, end of year
- $26,200,967
- Net assets or fund balances, end of year
- $363,863,594
- Program services expenses (Part IX)
- $0
- Management and general expenses
- $0
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $0
Program services were 0.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
2a · Program service revenue: Assessments
total $321,362,378 · related or exempt $321,362,378 · unrelated business $0 · excluded $0
-
2b · Program service revenue: Members Dues
total $6,150 · related or exempt $6,150 · unrelated business $0 · excluded $0
-
2f · All other program service revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
3 · Investment income
total $13,635,407 · related or exempt $13,635,407 · unrelated business $0 · excluded $0
-
4 · Income from investment of tax-exempt bond proceeds
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
5 · Royalties
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
6c · Rental income or loss
real property $0 · personal property $0
-
7c · Gain or loss
securities $0 · other assets $0
-
11e · Other revenue, total
$0
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $0
-
2 · Grants to domestic individuals
total $0
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $221,869,585
-
5 · Compensation of officers, directors and key employees
total $2,521,431
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $3,107,914
-
8 · Pension plan contributions
total $40,510
-
9 · Other employee benefits
total $715,452
-
10 · Payroll taxes
total $359,657
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $486,545
-
11c · Fees: accounting
total $124,976
-
11d · Fees: lobbying
total $0
-
11e · Fees: professional fundraising services
total $0
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $438,476
-
12 · Advertising and promotion
total $51,297
-
13 · Office expenses
total $13,203
-
14 · Information technology
total $362,206
-
15 · Royalties
total $0
-
16 · Occupancy
total $925,977
-
17 · Travel
total $30,605
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $45,022
-
20 · Interest
total $0
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $1,317,636
-
23 · Insurance
total $902,287
-
24a · Other expenses: Dues & Subscriptions
total $64,284
-
24b · Other expenses: Printed Materials
total $35,539
-
24c · Other expenses: Telephone
total $23,509
-
24d · Other expenses: Freight
total $2,039
-
24e · All other expenses
total $419,225
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $210,120,565 · end of year $307,368,524
-
2 · Savings and temporary cash investments
beginning of year $0 · end of year $0
-
3 · Pledges and grants receivable
beginning of year $0 · end of year $0
-
4 · Accounts receivable
beginning of year $30,261,660 · end of year $36,952,123
-
5 · Loans and receivables from officers and key people
beginning of year $0 · end of year $0
-
6 · Loans and receivables from disqualified persons
beginning of year $0 · end of year $0
-
7 · Other notes and loans receivable
beginning of year $0 · end of year $0
-
8 · Inventories for sale or use
beginning of year $0 · end of year $0
-
9 · Prepaid expenses and deferred charges
beginning of year $401,267 · end of year $424,254
-
10a · Land, buildings and equipment: cost or other basis
$17,544,429
-
10b · Land, buildings and equipment: accumulated depreciation
$12,651,084
-
10c · Land, buildings and equipment, net
beginning of year $6,067,385 · end of year $4,893,345
-
11 · Investments: publicly traded securities
beginning of year $34,271,244 · end of year $36,647,554
-
12 · Investments: other securities
beginning of year $0 · end of year $0
-
13 · Investments: program-related
beginning of year $0 · end of year $0
-
14 · Intangible assets
beginning of year $4,359,273 · end of year $3,672,884
-
15 · Other assets
beginning of year $690,255 · end of year $105,877
-
17 · Accounts payable and accrued expenses
beginning of year $3,604,646 · end of year $4,312,619
-
18 · Grants payable
beginning of year $0 · end of year $0
-
19 · Deferred revenue
beginning of year $0 · end of year $0
-
20 · Tax-exempt bond liabilities
beginning of year $0 · end of year $0
-
21 · Escrow or custodial account liability
beginning of year $0 · end of year $0
-
22 · Loans and payables to officers and key people
beginning of year $0 · end of year $0
-
23 · Secured mortgages and notes payable
beginning of year $0 · end of year $0
-
24 · Unsecured notes and loans payable
beginning of year $0 · end of year $0
-
25 · Other liabilities
beginning of year $24,449,108 · end of year $21,888,348
-
27 · Net assets without donor restrictions
beginning of year $258,117,895 · end of year $363,863,594
-
28 · Net assets with donor restrictions
beginning of year $0 · end of year $0
Mission and programs · 2023
Mission
New York Shipping Association, Inc. (d/b/a Shipping Association of New York & New Jersey (SANYNJ)) is an association of various employers of waterfront labor and ocean carrier companies engaged in the shipping industry in the Port of New York and New Jersey (PONY/NJ). Program service expenses relate to negotiating and administering collective bargaining agreements between the members of SANYNJ and representatives of their waterfront employees.
Activities or mission (Part I)
To represent the interests of its members in maximizing the efficiency, cost-competitiveness, safety and quality of marine cargo operations in the Port of New York and New Jersey.
-
New York Shipping Association, Inc. (d/b/a Shipping Association of New York & New Jersey (SANYNJ)) is an association of various employers of waterfront labor and ocean carrier companies engaged in the shipping industry in the Port of New York and New Jersey (PONY/NJ). Program service expenses relate to negotiating and administering collective bargaining agreements between the members of SANYNJ and representatives of their waterfront employees.
Revenue $321,362,378
As filed on the 2023 return.
Listed in Part VII
-
Nardi John
President
- Total calculated
- $668,784
- From this org
- $440,075
- From related orgs
- $0
- Other
- $228,709
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $370,262
- Bonus
- $50,000
- Other
- $12,288
- Deferred
- $206,585
- Nontaxable benefits
- $22,124
- Filer's total
- $661,259
-
Winfree Susan
VP of Workforce Development
- Total calculated
- $509,992
- From this org
- $325,006
- From related orgs
- $0
- Other
- $184,986
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $257,475
- Bonus
- $50,000
- Other
- $11,812
- Deferred
- $162,862
- Nontaxable benefits
- $22,124
- Filer's total
- $504,273
-
Darrell Charles
COO
- Total calculated
- $476,283
- From this org
- $344,594
- From related orgs
- $0
- Other
- $131,689
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $270,084
- Bonus
- $50,000
- Other
- $12,926
- Deferred
- $109,565
- Nontaxable benefits
- $22,124
- Filer's total
- $464,699
-
Massaro Daniel
CFO
- Total calculated
- $390,520
- From this org
- $321,760
- From related orgs
- $0
- Other
- $68,760
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $257,475
- Bonus
- $50,000
- Other
- $12,037
- Deferred
- $46,636
- Nontaxable benefits
- $22,124
- Filer's total
- $388,272
-
Pessel Steven
Dir of Information Technologies
- Total calculated
- $327,859
- From this org
- $237,250
- From related orgs
- $0
- Other
- $90,609
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $213,124
- Bonus
- $22,500
- Other
- $0
- Deferred
- $68,485
- Nontaxable benefits
- $22,124
- Filer's total
- $326,233
-
Cobb James H
Dir of Government Affairs
- Total calculated
- $326,421
- From this org
- $209,636
- From related orgs
- $0
- Other
- $116,785
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $174,227
- Bonus
- $20,000
- Other
- $8,200
- Deferred
- $94,661
- Nontaxable benefits
- $22,124
- Filer's total
- $319,212
-
Barattini Thomas M
Dir of Workforce Development
- Total calculated
- $320,029
- From this org
- $218,383
- From related orgs
- $0
- Other
- $101,646
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $199,500
- Bonus
- $15,000
- Other
- $1,050
- Deferred
- $79,522
- Nontaxable benefits
- $22,124
- Filer's total
- $317,196
-
Gupta Deepak
Senior IT Manager
- Total calculated
- $303,873
- From this org
- $230,453
- From related orgs
- $0
- Other
- $73,420
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $216,300
- Bonus
- $12,500
- Other
- $0
- Deferred
- $51,296
- Nontaxable benefits
- $22,124
- Filer's total
- $302,220
-
Monahan Sharin
Dir of Training & Safety
- Total calculated
- $267,548
- From this org
- $194,273
- From related orgs
- $0
- Other
- $73,275
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $177,581
- Bonus
- $15,000
- Other
- $823
- Deferred
- $51,151
- Nontaxable benefits
- $22,124
- Filer's total
- $266,679
-
Atkins John
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Derby Michael
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Engel Thomas
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Ferrer Louis Capt
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Hsu Mitchell
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Lee Wen Jin
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Milazzo Robert
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Mittenzwei Kurt
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Murrello Anthony
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Nazzaro Paul
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Pelliccio Jim
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Robinson Courtney
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Schmittberger Thorsten
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Spiteri Jesmond
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Stamatis Michael
Board Member
- Total calculated
- $0
- Hours/week
- 1
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
- 1a · First-class or charter travel
- 1a · Travel for companions
- 1a · Health or social club dues or initiation fees
- 1b · Written policy on the line-1a expenses
- 2 · Substantiation required before reimbursing expenses
- 3 · Compensation committee
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
The filer's explanations (Part III)
- Schedule J, Part I, Line 1a
- As per SANYNJ policy, the President (and spouse, if applicable) is entitled to travel via First or Business Class when attending industry related functions. Also, companion travel is permitted for officers when travelling to certain industry functions. As per employment agreement with current President SANYNJ reimburses the President for certain country club dues on an annual basis.
- Schedule J, Part I, Line 3
- SANYNJ undertakes a thorough process to ensure that the executive compensation it pays to its top management officials and all of its officers and key employees of SANYNJ is reasonable given the market in which SANYNJ operates. In relevant part, the Board of Directors has established a compensation committee of independent persons that have no personal interest in the proposed compensation agreement. The compensation committee will then set the compensation for the relevant executive.
- Schedule J, Part II
- Amounts reported in Schedule J, Part II, Column C Deferred Compensation reflects the change in the Actuarial Value of the Individual's Defined Benefit Plan.
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
No itemized grants to organizations on this return.
Related organizations on this return
Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.
-
New York Shipping Association Inc Political Action Committee
527 · Political Organization · NJ · controlled entity
Directly controlled by Shipping Association of NY & NJ
Taxable family on this return
Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.
Related corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
-
New York Shipping Assurance Association Inc
C · Insurance · VT · 100% owned · share of income $677,691 · share of assets $4,136,790
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 23 May 2025
- IRS schema version
- 2023v6.0
- Source object
- 202541689349301404
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