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Rutherford Railroad Development Corp FY2023 filing

Tax-deductible

Rutherfordton, NC501(c)(3)Community DevelopmentEIN 88-4265374Revenue $65K in FY2023

On file with the IRS289 N Main St, 28139-2549 · Rutherfordton, NCTax-exempt since Jun 2024Publicly supported charity — 170(b)(1)(A)(vi)

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The purpose of the corporation is to acquire,preserve,maintain, and manage former railroad rights of way for interim public recreational trail use to ensure their availability for future rail service reactivation. To promote public health and wellness.

501(c)(3) charity; gifts are tax-deductible.
85¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2023 · 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
2 of 2
filings with a surplus
Average surplus $147K a year · 84% of revenue · last 2 filings
Looks good: a surplus in 2 of the last 2 filings.
Pt I · Ln 19 · 2 filings
Spent on programs
85%
of spending
Looks good: 85% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
8 mo
of spending, in cash
Looks good: 8.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $286K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
4
of 4 voting members
Looks good: 4 of 4 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$65K
Spent
$38K
To programs
85%
Net assets
$26K
By yearFY2023–FY2024
Revenue
$65K
FY2023
Tap a bar for its year
Revenue by fiscal year
FY2023$65K
FY2024$286K
Expenses
$38K
FY2023
Tap a bar for its year
Expenses by fiscal year
FY2023$38K
FY2024$19K
Net assets
$26K
FY2023
Tap a bar for its year
Net assets by fiscal year
FY2023$26K
FY2024$293K

From the FY2023 Form 990 · see the original

990 PDF Claim
You’re viewing the FY2023 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 Jun 2024.

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

Where the money goes

85 cents of each dollar spent went to programs.

Program services 85% · $32K Management & general 15% · $6K

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

4 people listed on the 990.

Part VII, Section A · reportable compensation
Doug Barrick
Chairman
$0Pt VII · Sec A
Scott Webber
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
Janet Mason
Vice Chairman
$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

Preserves old railroad paths for public recreation and future rail use.

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Provided by the organization

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1 program · $32K · in their own filed words · FY2023
01

Protect the Rails for Trails by

*Engage townships connected to the Trail to participat *Protect Encroachment of Trail Property *Establish educational programs about the environment, history, and recreational benefits of trails *Provide a safe environment for trail use

$32Kprogram 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
Community Foundation of Henderson County INCFY2024$286K
Total grants receivedfrom 1 funder$286K

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$65K
Ln 12
Gifts and grantsLn 1h$65K
Money outPt IX
$38K
Ln 25
Programscol B$32K
Managementcol C$6K
Owns and owesPt X
$26K
net assets · Ln 32
Cash and savingsLn 1–2$26K
Total assetsLn 16$26K
LiabilitiesLn 26$0
PeoplePt VI, VII
4
listed · VII A
PaidVII A0
Voting boardVI 1a4
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$65K
Total revenueLn 12$65K
Assets in detailPt X, end of year
CashLn 1$26K
Cash and savings togetherLn 1–2$26K
Total assetsLn 16$26K
LiabilitiesLn 26$0
Net assetsLn 32$26K
OperationsPt I, VI
EmployeesI 50
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
LineStart FY23End FY23
Cash and savingsLn 1–2$26K
Total assetsLn 16$0$26K
LiabilitiesLn 26$0$0
Net assetsLn 32$0$26K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$5K$5K
Advertising and promotionLn 12$22K$22K
Office expensesLn 13$124$124
InsuranceLn 23$1K$1K
Other expenses (24a–d)Ln 24$11K$11K
Total functional expensesLn 25$38K$32K$6K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $286K$19K$267K$293K 990 PDF
FY2023 Viewing $65K$38K$26K$26K 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 $64,765 revenue, 12 lines filed
I-8 Contributions and grants$64,765
I-9 Program service revenue$0
I-10 Investment income$0
I-11 Other revenue$0
I-12 Total revenue$64,765
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expenses$38,334
I-18 Total expenses$38,334
I-19 Revenue less expenses$26,431
Part VI · Governance 4 of 4 board members independent, 1 to look at
VI-1a Voting members of the governing body4
VI-1b Independent voting members4
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 $64,765 across 3 lines filed
VIII-1f All other contributions, gifts and grants$64,765
VIII-1h Total contributions, gifts and grants$64,765
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$64,765
Part IX · Statement of functional expenses $38,334 across 5 lines filed
IX-11c Accounting feesManagement $4,631$4,631
IX-12 Advertising and promotionPrograms $21,847$21,847
IX-13 Office expensesManagement $124$124
IX-23 InsuranceManagement $1,105$1,105
IX-24 Other expenses (24a–d)Programs $10,627$10,627
IX-25 Total functional expensesPrograms $32,474 · Management $5,860 · Fundraising $0$38,334
Part X · Balance sheet $26,431 assets, 6 lines filed
X-1 Cash, non-interest-bearing$26,431
X-16 Total assetsStart of year $0$26,431
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictions$26,431
X-32 Total net assets or fund balancesStart of year $0$26,431
X-33 Total liabilities and net assetsStart of year $0$26,431
Part XI · Reconciliation of net assets $26,431 net assets at year end
XI-1 Total revenue$64,765
XI-2 Total expenses$38,334
XI-3 Revenue less expenses$26,431
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$26,431

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

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