Preserve, Maintain, Operate the Belfast Moosehead Lake Railroad

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
Run by 20 volunteers.
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
4 of 5
filings with a surplus
Average surplus $69K a year · 18% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
4 mo
of spending, in cash
Looks good: 4.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $2K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$726K
45% of total assets
Looks good: liabilities are 45% of assets; 50% or less.
Pt X · Ln 26
Independent board members
23
of 23 voting members
Looks good: 23 of 23 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$577K
+89% vs prior year
Spent
$348K
To programs
100%
Net assets
$886K
By yearFY2020–FY2024
Revenue
$577K
FY2024▲ +89%
Tap a bar for its year
Revenue by fiscal year
FY2020$291K
FY2021$368K
FY2022$323K
FY2023$305K
FY2024$577K
Expenses
$348K
FY2024▲ +75%
Tap a bar for its year
Expenses by fiscal year
FY2020$282K
FY2021$398K
FY2022$294K
FY2023$199K
FY2024$348K
Net assets
$886K
FY2024▲ +31%
Tap a bar for its year
Net assets by fiscal year
FY2020$547K
FY2021$555K
FY2022$580K
FY2023$678K
FY2024$886K

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 Jan 2009.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $348K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

3 people listed on the 990.

Part VII, Section A · reportable compensation
Executive Director
$0Pt VII · Sec A
Director/Treasurer
$0Pt VII · Sec A
Director
$0Pt VII · Sec A

Joey Feero’s $9K as Executive Director is at the 7th 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 Brooks Preservation Society 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 15aNo
  • Loans to or from officersSch L · Pt II9 listed

Programs and updates

Operates and maintains a historic scenic railroad for public enjoyment.

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Provided by the organization

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3 programs · $325K · in their own filed words · FY2024
01

Preserve, Maintain, Operate the Belfast Moosehead Lake Railroad. 2024 concluded with over 13,000 passengers attending our events including over 4,800 using the train for the Common Ground County Fair.

$296Kprogram expense
02

Locomotive Program

Repairs Maintenance 1483 remains our primary locomotive. 1950 is our backup unit. The railroad entered into an arrangement to obtain an SW1 locomotive 705 for storage and maintenance. Special idler trucks were rented to allow for the movement of the locomotive over the rail network to Unity Maine.

$22Kprogram expense
03

Railcycle Program

Operations moved to Belfast and operated by staff. The operation got off to a late start due to the move and saw around 450 riders.

$7Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2024
Total grants receivedfrom 1 funder$2K

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$577K
Ln 12
Fees for servicesLn 2g$355K
Gifts and grantsLn 1h$168K
Other incomeLn 4–11$54K
Money outPt IX
$348K
Ln 25
Programscol B$348K
Owns and owesPt X
$886K
net assets · Ln 32
Cash and savingsLn 1–2$119K
Total assetsLn 16$1.6M
LiabilitiesLn 26$726K
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a23
IndependentVI 1b23
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$168K
Noncash giftsLn 1g$25K
Fees for servicesLn 2g$355K
Investment incomeLn 3$7
Other incomeLn 4–11$54K
Total revenueLn 12$577K
Assets in detailPt X, end of year
SavingsLn 2$119K
Cash and savings togetherLn 1–2$119K
InvestmentsLn 11–13$759
Land, buildings, equipmentLn 10c$1.5M
Total assetsLn 16$1.6M
LiabilitiesLn 26$726K
Net assetsLn 32$886K
OperationsPt I, VI
EmployeesI 50
VolunteersI 620
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
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$40K$119K
InvestmentsLn 11–13$795$759
Land, buildings, equipmentLn 10c$1.4M$1.5M
Total assetsLn 16$1.5M$1.6M
LiabilitiesLn 26$778K$726K
Net assetsLn 32$678K$886K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$0
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$10K$10K
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$0
Payroll taxesLn 10$2K$2K
Management feesLn 11a$0
Legal feesLn 11b$0
Accounting feesLn 11c$0
Lobbying feesLn 11d$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$0
Advertising and promotionLn 12$9K$9K
Office expensesLn 13$26K$26K
Information technologyLn 14$1K$1K
RoyaltiesLn 15$0
OccupancyLn 16$116K$116K
TravelLn 17$1K$1K
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$0
InterestLn 20$22K$22K
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$0
InsuranceLn 23$20K$20K
Other expenses (24a–d)Ln 24$116K$116K
All other expensesLn 24e$25K$25K
Total functional expensesLn 25$348K$348K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $577K$348K$229K$886K 990 PDF
FY2023 $305K$199K$106K$678K 990 PDF
FY2022 $323K$294K$28K$580K 990 PDF
FY2021 $368K$398K−$30K$555K 990 PDF
FY2020 $291K$282K$9K$547K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $577,085 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $37,743$168,379
I-9 Program service revenuePrior year $223,424$354,927
I-10 Investment incomePrior year $7$7
I-11 Other revenuePrior year $44,289$53,772
I-12 Total revenuePrior year $305,463$577,085
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$11,738
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $199,053$336,314
I-18 Total expensesPrior year $199,053$348,052
I-19 Revenue less expensesPrior year $106,410$229,033
Part VI · Governance 23 of 23 board members independent, 3 to look at
VI-1a Voting members of the governing body23
VI-1b Independent voting members23
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $577,085 across 7 lines filed
Lines not itemized here account for $5,124 of total revenue; see the IRS return.
VIII-1f All other contributions, gifts and grants$168,379
VIII-1g Noncash contributions (included above)$24,890
VIII-1h Total contributions, gifts and grants$168,379
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)$354,927
VIII-3 Investment income$7
VIII-6 Net rental income or loss$48,648
VIII-12 Total revenue$577,085
Part IX · Statement of functional expenses $348,052 across 30 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staff$0
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wagesPrograms $9,857$9,857
IX-8 Pension plan contributions$0
IX-9 Other employee benefits$0
IX-10 Payroll taxesPrograms $1,881$1,881
IX-11a Management fees$0
IX-11b Legal fees$0
IX-11c Accounting fees$0
IX-11d Lobbying fees$0
IX-11f Investment management fees$0
IX-12 Advertising and promotionPrograms $8,634$8,634
IX-13 Office expensesPrograms $26,096$26,096
IX-14 Information technologyPrograms $1,368$1,368
IX-15 Royalties$0
IX-16 OccupancyPrograms $115,687$115,687
IX-17 TravelPrograms $1,044$1,044
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$0
IX-20 InterestPrograms $21,957$21,957
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortization$0
IX-23 InsurancePrograms $20,277$20,277
IX-24 Other expenses (24a–d)Programs $115,868$115,868
IX-24e All other expensesPrograms $25,383$25,383
IX-25 Total functional expensesPrograms $348,052 · Management $0 · Fundraising $0$348,052
Part X · Balance sheet $1,612,229 assets, 8 lines filed
Asset lines not itemized here account for $34,808; see the IRS return.
X-2 Savings and temporary cash investmentsStart of year $39,904$118,879
X-10c Land, buildings and equipment, netStart of year $1,415,393$1,457,783
X-11 Publicly traded securitiesStart of year $795$759
X-16 Total assetsStart of year $1,456,092$1,612,229
X-24 Unsecured notes and loans payableStart of year $107,500$95,500
X-26 Total liabilitiesStart of year $778,226$726,063
X-32 Total net assets or fund balancesStart of year $677,866$886,166
X-33 Total liabilities and net assetsStart of year $1,456,092$1,612,229
Part XI · Reconciliation of net assets $886,166 net assets at year end
XI-1 Total revenue$577,085
XI-2 Total expenses$348,052
XI-3 Revenue less expenses$229,033
XI-4 Net assets at start of year$677,866
XI-8 Prior period adjustments−$20,733
XI-10 Net assets at end of year$886,166

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

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