Railroad Research Foundation: Nonprofit Profile, Financials & Form 990 (EIN 52-2344655)

Revenue by fiscal year
FY2020	$760K
FY2021	$760K
FY2022	$843K
FY2023	$887K

Expenses by fiscal year
FY2020	$771K
FY2021	$762K
FY2022	$844K
FY2023	$897K

Net assets by fiscal year
FY2020	$13K
FY2021	$11K
FY2022	$10K
FY2023	$0

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2023.

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

Where the money goes

95 cents of each dollar spent went to programs.

95%

Program services 95% · $851K Management & general 5% · $46K

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

10 people listed on the 990.

Part VII, Section A · reportable compensation

Ian Jefferies

President & Director

$0Pt VII · Sec A

Michael J Rush

VP & Director

$0Pt VII · Sec A

Paul Hedrick

VP, Treasurer & Director

$0Pt VII · Sec A

Kristin Smith

VP & Director

$0Pt VII · Sec A

John T Gray

VP & Director

$0Pt VII · Sec A

Louis S Thompson

Director

$0Pt VII · Sec A

Kathryn D Kirmayer

VP & General Counsel

$0Pt VII · Sec A

Edward a Kendall JR

Corporate Secretary

$0Pt VII · Sec A

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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

Programs and updates

Conducts railroad-related research to advance the industry.

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Provided by the organization

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1 program · $851K · in their own filed words · FY2023

01

Rcrms License Activities

Governed by licensing agreements between the foundation and the seven (7) class I and FOUR(4) shortline railroads, the RCRMS freight railroad risk assessment tool is recognized as a key enabling technology for the railroad industry to assist in accomplishing the risk evaluation objectives for compliance to the rail safety improvement act…

$851Kprogram expense

By the numbers

The FY2023 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$887K

Ln 12

Fees for servicesLn 2g$887K

Money outPt IX

$897K

Ln 25

Programscol B$851K

Managementcol C$46K

Owns and owesPt X

$0

net assets · Ln 32

Total assetsLn 16$0

LiabilitiesLn 26$0

PeoplePt VI, VII

10

listed · VII A

PaidVII A0

Voting boardVI 1a6

IndependentVI 1b1

2In more detail

Revenue in detailPt VIII

Fees for servicesLn 2g$887K

Total revenueLn 12$887K

Assets in detailPt X, end of year

CashLn 1$0

Total assetsLn 16$0

LiabilitiesLn 26$0

Net assetsLn 32$0

OperationsPt I, VI

EmployeesI 50

VolunteersI 61

Fiscal year endsHeaderDecember

Conflict-of-interest policyVI 12aYes

Whistleblower policyVI 13Yes

Records policyVI 14Yes

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY23	End FY23
Cash and savingsLn 1–2	$20K	$0
Total assetsLn 16	$20K	$0
LiabilitiesLn 26	$10K	$0
Net assetsLn 32	$10K	$0

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic organizationsLn 1	$5K	$5K
Legal feesLn 11b	$13K		$13K
Accounting feesLn 11c	$28K		$28K
Other fees for servicesLn 11g	$846K	$846K
Office expensesLn 13	$6K		$6K
Total functional expensesLn 25	$897K	$851K	$46K	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2023 Latest Viewing	$887K	$897K	−$10K	$0	990 PDF
FY2022	$843K	$844K	−$1K	$10K	990 PDF
FY2021	$760K	$762K	−$2K	$11K	990 PDF
FY2020	$760K	$771K	−$11K	$13K	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 FY2023 990 (6 parts)

Part I · Summary $887,191 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $0$0

I-9 Program service revenuePrior year $842,677$887,191

I-10 Investment incomePrior year $0$0

I-11 Other revenuePrior year $0$0

I-12 Total revenuePrior year $842,677$887,191

I-13 Grants and similar amounts paidPrior year $0$4,606

I-14 Benefits paid to membersPrior year $0$0

I-15 Salaries and benefitsPrior year $0$0

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $843,886$892,577

I-18 Total expensesPrior year $843,886$897,183

I-19 Revenue less expensesPrior year −$1,209−$9,992

Part VI · Governance 1 of 6 board members independent, 1 to look at

VI-1a Voting members of the governing body6

VI-1b Independent voting members1

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

VI-13 Written whistleblower policyYes

VI-14 Document retention and destruction policyYes

Part VIII · Statement of revenue $887,191 across 2 lines filed

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $887,191$887,191

VIII-12 Total revenueRelated to mission $887,191 · Unrelated business $0 · Excluded from tax $0$887,191

Part IX · Statement of functional expenses $897,183 across 5 lines filed

IX-1 Grants to domestic organizationsPrograms $4,606$4,606

IX-11b Legal feesManagement $13,028$13,028

IX-11c Accounting feesManagement $27,500$27,500

IX-11g Other fees for servicesPrograms $846,453$846,453

IX-13 Office expensesManagement $5,596$5,596

IX-25 Total functional expensesPrograms $851,059 · Management $46,124 · Fundraising $0$897,183

Part X · Balance sheet $0 assets, 6 lines filed

X-1 Cash, non-interest-bearingStart of year $20,100$0

X-16 Total assetsStart of year $20,100$0

X-26 Total liabilitiesStart of year $10,108$0

X-27 Net assets without donor restrictionsStart of year $9,992$0

X-32 Total net assets or fund balancesStart of year $9,992$0

X-33 Total liabilities and net assetsStart of year $20,100$0

Part XI · Reconciliation of net assets $0 net assets at year end

XI-1 Total revenue$887,191

XI-2 Total expenses$897,183

XI-3 Revenue less expenses−$9,992

XI-4 Net assets at start of year$9,992

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$0

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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Railroad Research Foundation

Before you give

Is it real?

Where the money goes

Who runs it and what they're paid

Questions the 990 asks

Programs and updates

Questions for Railroad Research Foundation

Rcrms License Activities

By the numbers

Filing history

Schedules filed Part IV