Lionel Operating Train Society Inc
- Assets
- $314.2k
- Revenue
- $172.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Cincinnati, OH
- Founding
- 12/1983
- Data as of
- 12/2022
- EIN
- 31-1074533
Organization Overview
Lionel Operating Train Society Inc is located in Cincinnati, OH. The organization was established in 1983. According to its NTEE Classification (A54) the organization is classified as: History Museums, 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. Lionel Operating Train Society Inc is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 12/2022, Lionel Operating Train Society Inc generated $172.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (8.0%) each year. All expenses for the organization totaled $227.4k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (0.6%) per year over the past 6 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTING THE MODEL TRAIN HOBBY BY ENCOURAGING THE ENJOYMENT AND OPERATION OF LIONEL ELECTRIC TRAINS WITH AN EMPHASIS ON HISTORIC AND MODERN TRAIN OPERATIONS. TOWARD THIS MISSION, THE ORGANIZATION HOLDS AN ANNUAL CONVENTION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CLUB OFFERS TO ITS MEMBERS AN ANNUAL COMMERATIVE MODEL TRAINS CARS AND LOCOMOTIVES
THE ANNUAL CONVENTION HAS FEATURED LOTS OF OPERATING LAYOUTS, TOY TRAIN VIDEOS, MODELING CONTESTS, MAINTENANCE CLINICS, TABLE SALES OF TRAINS AND TRAIN RELATED MERCHANDISE, TRAIN DRAG RACES, OUTSTANDING HOME LAYOUT TOURS AND SPECIAL EXCURSIONS.
PUBLICATION OF SWITCHER WHICH IS A BI MONTHLY JOURNAL,INCLUDING TRACK CHANGES FOR BUYING AND SELLING TRAIN ITEMS. ROSTER IS PUBLISHED ANNUALLY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Larry Smith Chairman Directors | Trustee | 3 | $0 |
John W Miller Director-6 Months | Trustee | 1 | $0 |
Phil Howe Immediate Past President | Trustee | 1 | $0 |
Ed Mazur Director- 6 Months | Trustee | 1 | $0 |
Stephen Witherspoon Director | Trustee | 1 | $0 |
Ralph S Knelly Secretarytreasurer | OfficerTrustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $49,506 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $49,506 |
| Total Program Service Revenue | $110,357 |
| Investment income | $1,601 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $172,781 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $30,000 |
| 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 | $0 |
| Advertising and promotion | $11,195 |
| Office expenses | $4,391 |
| Information technology | $1,316 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $9,401 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $130,984 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $572 |
| Insurance | $2,152 |
| All other expenses | $2,522 |
| Total functional expenses | $227,381 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,839 |
| Savings and temporary cash investments | $287,736 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Prepaid expenses and deferred charges | $1,964 |
| Net Land, buildings, and equipment | $1,428 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $18,209 |
| Total assets | $314,176 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| 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 | $314,176 |
| Total liabilities and net assets/fund balances | $314,176 |