Midwest Central Railroad FY2021 filing

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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.
97¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2021 · 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
97%
of spending
Looks good: 97% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
23 mo
of spending, in cash
Looks good: 22.8 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
$164K
9% of total assets
Looks good: liabilities are 9% 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
$651K
+486% vs prior year
Spent
$369K
To programs
97%
Net assets
$1.7M
By yearFY2020–FY2024
Revenue
$651K
FY2021▲ +486%
Tap a bar for its year
Revenue by fiscal year
FY2020$111K
FY2021$651K
FY2022$418K
FY2023$405K
FY2024$478K
Expenses
$369K
FY2021▲ +124%
Tap a bar for its year
Expenses by fiscal year
FY2020$165K
FY2021$369K
FY2022$429K
FY2023$462K
FY2024$479K
Net assets
$1.7M
FY2021▲ +20%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.4M
FY2021$1.7M
FY2022$1.7M
FY2023$1.6M
FY2024$1.6M

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 ruling in Dec 1968.

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

Where the money goes

97 cents of each dollar spent went to programs.

Program services 97% · $357K Management & general 3% · $12K

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

7 people listed on the 990.

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

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.

Questions for Midwest Central Railroad

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Your first name shows with your question. Midwest Central Railroad answers here, for everyone.

1 program · $357K · in their own filed words · FY2021
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.

$357Kprogram expense

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 FY2021 990, line by line.

1The main four
Money inPt VIII
$651K
Ln 12
Fees for servicesLn 2g$330K
Gifts and grantsLn 1h$284K
Other incomeLn 4–11$21K
Money outPt IX
$369K
Ln 25
Programscol B$357K
Managementcol C$12K
Owns and owesPt X
$1.7M
net assets · Ln 32
Cash and savingsLn 1–2$701K
Total assetsLn 16$1.9M
LiabilitiesLn 26$164K
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$284K
Government grantsLn 1e$176K
Noncash giftsLn 1g$89K
Fees for servicesLn 2g$330K
Investment incomeLn 3$17K
Other incomeLn 4–11$21K
Gains on assetsLn 7$17K
Total revenueLn 12$651K
Assets in detailPt X, end of year
CashLn 1$271K
SavingsLn 2$430K
Cash and savings togetherLn 1–2$701K
Land, buildings, equipmentLn 10c$1.1M
Total assetsLn 16$1.9M
LiabilitiesLn 26$164K
Net assetsLn 32$1.7M
OperationsPt I, VI
EmployeesI 51
VolunteersI 6180
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3More from this return
Abroad and in kindSch F, M
Noncash gifts receivedSch M Pt I$89K
4Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$430K$701K
Land, buildings, equipmentLn 10c$1.1M$1.1M
Total assetsLn 16$1.5M$1.9M
LiabilitiesLn 26$129K$164K
Net assetsLn 32$1.4M$1.7M
5Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$27K$27K
Pay of current officers, directors and key staffLn 5$36K$29K$7K
Payroll taxesLn 10$3K$2K$558
Accounting feesLn 11c$3K$3K
Advertising and promotionLn 12$4K$4K
Office expensesLn 13$4K$4K
OccupancyLn 16$23K$23K
TravelLn 17$846$846
Conferences, conventions and meetingsLn 19$344$344
InterestLn 20$5K$5K
Depreciation, depletion and amortizationLn 22$53K$53K
InsuranceLn 23$27K$26K$1K
Other expenses (24a–d)Ln 24$163K$163K
All other expensesLn 24e$19K$19K
Total functional expensesLn 25$369K$357K$12K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 LatestFiled with the IRS May 15, 2025 $478K$479K−$874$1.6M 990 PDF
FY2023Filed with the IRS May 29, 2024 $405K$462K−$57K$1.6M 990 PDF
FY2022Filed with the IRS Oct 31, 2023 $418K$429K−$10K$1.7M 990 PDF
FY2021 ViewingFiled with the IRS Nov 14, 2022 $651K$369K$282K$1.7M 990 PDF
FY2020Filed with the IRS Nov 12, 2021 $111K$165K−$53K$1.4M 990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support M · Noncash O · Explanations
See the full FY2021 990 (6 parts)
Part I · Summary $651,350 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $34,957$283,728
I-9 Program service revenuePrior year $76,176$330,082
I-10 Investment incomePrior year $582$16,970
I-11 Other revenuePrior year −$497$20,570
I-12 Total revenuePrior year $111,218$651,350
I-13 Grants and similar amounts paid$26,995
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $39,321$39,292
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $125,241$303,021
I-18 Total expensesPrior year $164,562$369,308
I-19 Revenue less expensesPrior year −$53,344$282,042
Part VI · Governance 7 of 7 board members independent, 3 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $651,350 across 9 lines filed
Lines not itemized here account for $23,805 of total revenue; see the IRS return.
VIII-1b Membership dues$3,095
VIII-1e Government grants$175,574
VIII-1f All other contributions, gifts and grants$105,059
VIII-1g Noncash contributions (included above)$88,788
VIII-1h Total contributions, gifts and grants$283,728
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $326,847$326,847
VIII-3 Investment incomeExcluded from tax $270$270
VIII-7 Net gain or loss on sales of assetsExcluded from tax $16,700$16,700
VIII-12 Total revenueRelated to mission $330,082 · Excluded from tax $37,540$651,350
Part IX · Statement of functional expenses $369,308 across 14 lines filed
IX-1 Grants to domestic organizationsPrograms $26,995$26,995
IX-5 Pay of current officers, directors and key staffPrograms $29,200 · Management $7,300$36,500
IX-10 Payroll taxesPrograms $2,234 · Management $558$2,792
IX-11c Accounting feesManagement $2,825$2,825
IX-12 Advertising and promotionPrograms $4,464$4,464
IX-13 Office expensesPrograms $4,212$4,212
IX-16 OccupancyPrograms $23,313$23,313
IX-17 TravelPrograms $846$846
IX-19 Conferences, conventions and meetingsPrograms $344$344
IX-20 InterestPrograms $5,228$5,228
IX-22 Depreciation, depletion and amortizationPrograms $53,011$53,011
IX-23 InsurancePrograms $25,718 · Management $1,136$26,854
IX-24 Other expenses (24a–d)Programs $162,734$162,734
IX-24e All other expensesPrograms $19,190$19,190
IX-25 Total functional expensesPrograms $357,489 · Management $11,819 · Fundraising $0$369,308
Part X · Balance sheet $1,853,525 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $52,784$270,579
X-2 Savings and temporary cash investmentsStart of year $377,536$430,165
X-4 Accounts receivable$4,622
X-8 Inventories for sale or useStart of year $8,801$2,697
X-10c Land, buildings and equipment, netStart of year $1,097,129$1,145,462
X-16 Total assetsStart of year $1,536,250$1,853,525
X-17 Accounts payable and accrued expensesStart of year $1,679$4,409
X-24 Unsecured notes and loans payableStart of year $126,958$159,461
X-26 Total liabilitiesStart of year $128,637$163,870
X-27 Net assets without donor restrictionsStart of year $1,312,624$1,593,258
X-28 Net assets with donor restrictionsStart of year $94,989$96,397
X-32 Total net assets or fund balancesStart of year $1,407,613$1,689,655
X-33 Total liabilities and net assetsStart of year $1,536,250$1,853,525
Part XI · Reconciliation of net assets $1,689,655 net assets at year end
XI-1 Total revenue$651,350
XI-2 Total expenses$369,308
XI-3 Revenue less expenses$282,042
XI-4 Net assets at start of year$1,407,613
XI-10 Net assets at end of year$1,689,655

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

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