Illinois Railway Museum
- Assets
- $16.6m
- Revenue
- $3.0m
- Investments
- $0.0
- Employees
- 40
- Location
- Union, IL
- Founding
- 07/1957
- Data as of
- 09/2022
- EIN
- 36-6108196
Organization Overview
Illinois Railway Museum is located in Union, IL. The organization was established in 1957. According to its NTEE Classification (A50) the organization is classified as: Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 09/2022, Illinois Railway Museum employed 40 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Illinois Railway Museum 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 09/2022, Illinois Railway Museum generated $3.0m 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 (4.9%) each year. All expenses for the organization totaled $2.1m during the year ending 09/2022. As we would expect to see with falling revenues, expenses have declined by (2.7%) 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO EDUCATE THE PUBLIC AS TO OUR NATION'S RAILROAD & RAILWAY HISTORY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PUBLIC OPENING, DISPLAY, OPERATION AND INTERPRETATION OF THE MUSEUM'S COLLECTION OF RAILROAD EQUIPMENT AND MEMORABILIA TO FURTHER PUBLIC UNDERSTANDING OF THE ROLE OF RAILROADS IN THE DEVELOPMENT OF THE COUNTRY. COSTS INCLUDE THOSE INCURRED BY THE ELECTRIC CAR, DIESEL, STEAM, STEAM PASSENGER COACH AND TROLLEY BUS DEPARTMENTS IN RESTORING AND MAINTAINING THE COLLECTION AS WELL AS THE MAINTENANCE OF THE SITE. ATTEDANCE FOR FY22 IS 66,000.
SPECIAL ATTRACTIONS AND EVENTS, WITH A STRONG RAILROAD THEME, INCLUDING DAYS OUT WITH THOMAS, HAPPY HOLIDAY RAILWAY AND THE BUNNY TROLLEY. WHILE ATTENDANCE AT DOWT DECREASED THAT AT OTHER EVENTS CONTINUED TO INCREASE WITH SIGNIFICANT EVIDENCE THAT PEOPLE INITIALLY ATTENDING THESE EVENTS SUBSEQUENTLY RETURN FOR OUR CORE MUSEUM ACTIVITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Diamond Director | Trustee | 8 | $60,480 |
Chris Chasin 2nd Vice President | OfficerTrustee | 20 | $0 |
Lawrence Stone President | OfficerTrustee | 15 | $0 |
Jason Maxwell 1st Vice President | OfficerTrustee | 15 | $0 |
Nick Kallas Executive Director | Officer | 30 | $0 |
Nigel Bennett Treasurer | Officer | 30 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Calumet Armature & Electric Llc Rebuilding Electric Motors | 9/29/17 | $189,250 |
Thomas Licensing Llc Royalty And Merchandise | 9/29/17 | $315,403 |
Volkmann Railroad Builders Track Laying And Maintenance | 9/29/17 | $221,477 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $118,552 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,213,513 |
| Noncash contributions included in lines 1a–1f | $8,858 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,332,065 |
| Total Program Service Revenue | $1,298,761 |
| Investment income | $1,655 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $91,542 |
| Net Gain/Loss on Asset Sales | $100,330 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $97,458 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,964,518 |
| 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. | $60,480 |
| Compensation of current officers, directors, key employees. | $15,657 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $164,555 |
| Pension plan accruals and contributions | $3,611 |
| Other employee benefits | $0 |
| Payroll taxes | $18,851 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,128 |
| Fees for services: Accounting | $19,117 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $336,277 |
| Advertising and promotion | $126,999 |
| Office expenses | $223,039 |
| Information technology | $24,787 |
| Royalties | $160,023 |
| Occupancy | $144,318 |
| Travel | $8,969 |
| 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 | $205,923 |
| Insurance | $162,456 |
| All other expenses | $0 |
| Total functional expenses | $2,127,242 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,481 |
| Savings and temporary cash investments | $1,708,779 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $16 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $52,007 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $8,406,160 |
| Investments—publicly traded securities | $6,402,521 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $16,575,964 |
| Accounts payable and accrued expenses | $322,009 |
| Grants payable | $0 |
| Deferred revenue | $113,782 |
| 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 | $435,791 |
| Net assets without donor restrictions | $12,590,193 |
| Net assets with donor restrictions | $3,549,980 |
| 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 | $16,575,964 |
Grants Recieved
Over the last fiscal year, we have identified 7 grants that Illinois Railway Museum has recieved totaling $109,578.
| Awarding Organization | Amount |
|---|---|
The Elizabeth Morse Charitable Trust 2620341200 Chicago, IL PURPOSE: TO SUPPORT STRATEGIC | $60,000 |
Southeastern Illinois Community Foundation Effingham, IL PURPOSE: GENERAL OPERATING SUPPORT | $28,613 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $13,645 |
Shade Family Foundation Chicago, IL PURPOSE: SOCIAL SERVICES | $5,400 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $1,670 |
The Baxter Foundation Deerfield, IL PURPOSE: MATCHING GIFTS GRANT | $150 |
Endowment Analysis
| Beg. Balance | $258,001 |
| Earnings | $10,103 |
| Net Contributions | $675 |
| Ending Balance | $268,779 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Johnny Morris Wonders Of Wildlife Foundation Springfield, MO | $84,645,334 | $34,583,902 |
Adler Planetarium Chicago, IL | $62,060,707 | $24,242,958 |
Milwaukee Public Museum Inc Milwaukee, WI | $17,354,362 | $14,883,405 |
National Corvette Museum Foundation Inc Bowling Green, KY | $80,229,990 | $15,403,313 |
Historic Arnolds Park Inc Arnolds Park, IA | $45,905,371 | $12,228,274 |
Eiteljorg Museum Of American Indians And Western Art Inc Indianapolis, IN | $95,582,001 | $21,664,008 |
Kentucky Derby Museum Corporation Louisville, KY | $35,033,343 | $10,633,125 |
Margaret Woodbury Strong Museum Charitable Trust Chicago, IL | $73,980,694 | $7,829,381 |
Peoria Riverfront Museum Peoria, IL | $12,190,456 | $4,223,811 |
Unlimited Opportunities Inc Boonville, MO | $6,714,259 | $4,941,880 |
Muhammad Ali Museum And Education Louisville, KY | $31,131,591 | $4,563,188 |
Lake States Dairy Center Inc Fair Oaks, IN | $6,073,141 | $3,616,020 |