Midwest Central Railroad

Tax-deductible

Mt Pleasant, IA501(c)(3)Arts & CultureEIN 23-7002864

Our mission is to preserve and commemorate railway heritage for the educational benefit and enjoyment for current and future generations.

501(c)(3) charity; gifts are tax-deductible.
90¢ of each $1 spent went to programs.
Run by 180 volunteers and 1 employee.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
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
1 of 5
filings with a surplus
Average surplus $32K a year · 8% of revenue · last 5 filings
Worth a look: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
90%
of spending
Looks good: 90% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
16 mo
of spending, in cash
Looks good: 16.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $7K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$141K
8% of total assets
Looks good: liabilities are 8% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$478K
+18% vs prior year
Spent
$479K
To programs
90%
Net assets
$1.6M
By yearFY2020–FY2024
Revenue
$478K
FY2024▲ +18%
Revenue by fiscal year
FY2020$111K
FY2021$651K
FY2022$418K
FY2023$405K
FY2024$478K
Expenses
$479K
FY2024▲ +4%
Expenses by fiscal year
FY2020$165K
FY2021$369K
FY2022$429K
FY2023$462K
FY2024$479K
Net assets
$1.6M
FY2024▲ +0.8%
Net assets by fiscal year
FY2020$1.4M
FY2021$1.7M
FY2022$1.7M
FY2023$1.6M
FY2024$1.6M

From the FY2024 Form 990 · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Dec 1968.

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

Where the money goes

90 cents of each dollar spent went to programs.

Program services 90% · $432K Management & general 2% · $10K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Who runs it and what they're paid

7 people listed on the 990.

Part VII, Section A · reportable compensation
Treasurer
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
President
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Vice-President
$0Pt VII · Sec A
Director
$0Pt VII · Sec A

Matthew D Crull’s $37K as President is at the 32nd percentile of top reported officer pay among 2216 $100K–1M 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.

See Midwest Central Railroad executive salaries →

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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

Preserves and commemorates railway heritage for education and enjoyment.

Provided by the organization

This section is blank until Midwest Central Railroad claims this page.

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1 program service account for $432K of program spending, described in the organization's own filed words · FY2024.
01

The midwest central railroad brings the excitement of rail travel 100 years ago to life behind authentic steam powered trains. The museum has live action of steam engines and rolling stock to provide education displays and tour of the operation

$432Kprogram expense

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
Total grants receivedfrom 1 funder$7K
Grants paid · 1 grant · $7K · 2024–2024
Enhance Henry County FoundationIA · FY2024$7,000

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$478K
Ln 12
Fees for servicesLn 2g$466K
Gifts and grantsLn 1h$10K
Investment incomeLn 3$7K
Money outPt IX
$479K
Ln 25
Programscol B$432K
Managementcol C$10K
Owns and owesPt X
$1.6M
net assets · Ln 32
Cash and savingsLn 1–2$658K
Total assetsLn 16$1.8M
LiabilitiesLn 26$141K
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$10K
Fees for servicesLn 2g$466K
Investment incomeLn 3$7K
Gains on assetsLn 7−$1K
Total revenueLn 12$478K
Assets in detailPt X, end of year
CashLn 1$449K
SavingsLn 2$209K
Cash and savings togetherLn 1–2$658K
Land, buildings, equipmentLn 10c$1.1M
Total assetsLn 16$1.8M
LiabilitiesLn 26$141K
Net assetsLn 32$1.6M
OperationsPt I, VI
EmployeesI 51
VolunteersI 6180
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 FY24End FY24
Cash and savingsLn 1–2$641K$658K
Land, buildings, equipmentLn 10c$1.1M$1.1M
Total assetsLn 16$1.8M$1.8M
LiabilitiesLn 26$153K$141K
Net assetsLn 32$1.6M$1.6M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$41K$33K$8K
Payroll taxesLn 10$3K$3K$635
Accounting feesLn 11c$3K$3K
Advertising and promotionLn 12$6K$6K
Office expensesLn 13$11K$11K
Information technologyLn 14$775$775
OccupancyLn 16$88K$88K
TravelLn 17$1K$1K
Conferences, conventions and meetingsLn 19$2K$2K
InterestLn 20$6K$6K
Depreciation, depletion and amortizationLn 22$37K
InsuranceLn 23$14K$13K$828
Other expenses (24a–d)Ln 24$238K$238K
All other expensesLn 24e$27K$27K
Total functional expensesLn 25$479K$432K$10K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $478K$479K−$874$1.6M 990 PDF
FY2023 $405K$462K−$57K$1.6M 990 PDF
FY2022 $418K$429K−$10K$1.7M 990 PDF
FY2021 $651K$369K$282K$1.7M 990 PDF
FY2020 $111K$165K−$53K$1.4M 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 FY2024 990 (4 parts)
Part VIII · Statement of revenue $477,693 across 7 lines filed
Lines not itemized here account for −$5,006 of total revenue; see the IRS return.
VIII-1b Membership dues$1,160
VIII-1f All other contributions, gifts and grants$8,829
VIII-1h Total contributions, gifts and grants$9,989
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $466,040$466,040
VIII-3 Investment incomeExcluded from tax $7,835$7,835
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$1,165−$1,165
VIII-12 Total revenueRelated to mission $466,040 · Excluded from tax $1,664$477,693
Part IX · Statement of functional expenses $478,567 across 14 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $33,182 · Management $8,295$41,477
IX-10 Payroll taxesPrograms $2,538 · Management $635$3,173
IX-11c Accounting feesPrograms $2,750$2,750
IX-12 Advertising and promotionPrograms $6,439$6,439
IX-13 Office expensesPrograms $11,286$11,286
IX-14 Information technologyPrograms $775$775
IX-16 OccupancyPrograms $87,670$87,670
IX-17 TravelPrograms $1,290$1,290
IX-19 Conferences, conventions and meetingsPrograms $1,542$1,542
IX-20 InterestPrograms $5,755$5,755
IX-22 Depreciation, depletion and amortization$37,094
IX-23 InsurancePrograms $12,973 · Management $828$13,801
IX-24 Other expenses (24a–d)Programs $238,288$238,288
IX-24e All other expensesPrograms $27,227$27,227
IX-25 Total functional expensesPrograms $431,715 · Management $9,758 · Fundraising $0$478,567
Part X · Balance sheet $1,787,633 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $437,443$448,957
X-2 Savings and temporary cash investmentsStart of year $203,781$209,436
X-8 Inventories for sale or useStart of year $35,672$35,672
X-10c Land, buildings and equipment, netStart of year $1,109,122$1,093,568
X-16 Total assetsStart of year $1,786,018$1,787,633
X-17 Accounts payable and accrued expensesStart of year $18,370$19,286
X-24 Unsecured notes and loans payableStart of year $134,956$121,856
X-26 Total liabilitiesStart of year $153,326$141,142
X-32 Total net assets or fund balancesStart of year $1,632,692$1,646,491
X-33 Total liabilities and net assetsStart of year $1,786,018$1,787,633
Part XI · Reconciliation of net assets $1,646,491 net assets at year end
XI-1 Total revenue$477,693
XI-2 Total expenses$478,567
XI-3 Revenue less expenses−$874
XI-4 Net assets at start of year$1,632,692
XI-9 Other changes in net assets$14,673
XI-10 Net assets at end of year$1,646,491

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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