Leatherstocking Railway Historical Society Inc
- Assets
- $593.0k
- Revenue
- $118.2k
- Investments
- $0.0
- Employees
- 1
- Location
- Oneonta, NY
- Founding
- 05/1985
- Data as of
- 12/2021
- EIN
- 22-2573495
Organization Overview
Leatherstocking Railway Historical Society Inc is located in Oneonta, NY. The organization was established in 1985. According to its NTEE Classification (A80) the organization is classified as: Historical Organizations, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Leatherstocking Railway Historical Society Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Leatherstocking Railway Historical Society Inc generated $118.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (8.0%) each year. All expenses for the organization totaled $88.4k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (14.1%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE ORGANIZATION IS THE COLLECTION, PRESERVATION AND EDUCATION OF THE GENERAL PUBLIC ON LOCAL RAILROAD HISTORY. THE LOCAL HISTORIC RAILROAD EXPERIENCE IS OBTAINED THROUGH A MUSEUM & EXCURSION TRAIN RIDES USING THE HISTORIC EQUIPMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RAILROAD EQUIPMENT AND ARTIFACTS PURCHASED AND RESTORED FOR THE BENEFIT OF THE GENERAL PUBLIC DISPLAYED IN A MUSEUM & RESTORATION OF RAILWAY SERVICE TO LIMITED AREA UTILIZING THE HISTORIC EQUIPMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bruce J Hodges President | OfficerTrustee | 40 | $0 |
Dean Hull Vice President | OfficerTrustee | 10 | $0 |
Elliott Oakes Vice President | OfficerTrustee | 0 | $0 |
Rae Ann Clark Treasurer | OfficerTrustee | 8 | $0 |
Mary Jo Oakes Secretary | OfficerTrustee | 4 | $0 |
Carl Ayres Director | Trustee | 8 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $5,745 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $28,280 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $34,025 |
| Total Program Service Revenue | $78,027 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $4,500 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $118,153 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,006 |
| Compensation of current officers, directors, key employees. | $302 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $45 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,710 |
| Advertising and promotion | $2,143 |
| Office expenses | $2,025 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $378 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $13,753 |
| Insurance | $12,664 |
| All other expenses | $14,999 |
| Total functional expenses | $88,384 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $40,396 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $101,310 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,469 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $439,533 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $10,318 |
| Total assets | $593,026 |
| Accounts payable and accrued expenses | $815 |
| Grants payable | $0 |
| Deferred revenue | $102,691 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $26,795 |
| Unsecured mortgages and notes payable | $169,345 |
| Other liabilities | $0 |
| Total liabilities | $299,646 |
| Net assets without donor restrictions | $283,062 |
| Net assets with donor restrictions | $10,318 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $593,026 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Josef And Anni Albers Foundation Inc Bethany, CT | $32,115,057 | $7,525,828 |
Massachusetts Historical Society Boston, MA | $153,195,244 | $13,508,822 |
Statue Of Liberty Ellis Island Foundation Inc New York, NY | $69,211,443 | $8,809,212 |
Edward M Kennedy Institute For The United States Senate Inc Boston, MA | $123,530,650 | $3,733,081 |
Nantucket Historical Association Nantucket, MA | $54,222,410 | $8,695,480 |
Philos Project Inc New York, NY | $1,194,685 | $1,246,393 |
Adirondack Historical Association Blue Mountain Lake, NY | $85,481,091 | $8,305,125 |
Eastern State Penitentiary Historic Site Inc Philadelphia, PA | $22,218,980 | $7,181,696 |
Old Dartmouth Historical Society New Bedford, MA | $34,006,057 | $4,398,959 |
Longyear Foundation Chestnut Hill, MA | $89,717,861 | $3,937,071 |
The Arthur Page Society New York, NY | $4,651,652 | $4,039,971 |
Connecticut Historical Society Hartford, CT | $72,727,103 | $6,569,476 |