Engine 557 Restoration Company
- Assets
- $238.4k
- Revenue
- $172.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Wasilla, AK
- Founding
- 09/2014
- Data as of
- 12/2023
- EIN
- 46-2663256
Organization Overview
Engine 557 Restoration Company is located in Wasilla, AK. The organization was established in 2014. 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. Engine 557 Restoration Company 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 12/2023, Engine 557 Restoration Company generated $172.3k in total revenue. The organization has seen a slow decline revenue. Over the past 5 years, revenues have fallen by an average of (0.5%) each year. All expenses for the organization totaled $238.0k during the year ending 12/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE ENGINE 557 RESTORATION COMPANY'S MISSION IS TO RESTORE, OPERATE, CONSERVE, AND DISPLAY FORMER ALASKA RAILROAD STEAM LOCOMOTIVE NUMBER 557 FOR THE EDUCATION AND ENJOYMENT OF ALASKAN RESIDENTS AND VISITORS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ASSESS, REPAIR, AND REFURBISH PARTS OF STEAM LOCOMOTIVE #557; REASSEMBLE LOCOMOTIVE PARTS ONTO LOCOMOTIVE; EQUIP SHOP WITH NECESSARY TOOLS, EQUIPMENT, AND TECHNICAL DOCUMENTS TO ACCOMPLISH RESTORATION. BETWEEN FOUR AND 10 VOLUNTEERS WORK ON THE LOCOMOTIVE, FOUR DAYS EACH WEEK. THE WORK WILL RESULT IN A RESTORED AND FULLY OPERATIONAL STEAM LOCOMOTIVE. SUBSTANTIAL IN-KIND CONTRIBUTIONS OF SERVICES AND FACILITIES SUPPORT THIS PROGRAM SERVICE.
OPERATIONS. PREPARING PLANNING DOCUMENTS, OBTAINING PERMISSIONS, AND DOING PRELIMINARY WORK TO DEVELOP INFRASTRUCTURE TO SUPPORT LOCOMOTIVE OPERATIONS WHICH ARE PROJECTED TO BEGIN IN 2025.
EDUCATION. PUBLIC EDUCATION AND OUTREACH IS PROVIDED VIA PRESENTATIONS TO COMMUNITY GROUPS, SOCIAL MEDIA, AND ENGINE HOUSE TOURS. THIS WAS DONE BY VOLUNTEERS AND NO EXPENSES WERE INCURRED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Patrick J Durand President | OfficerTrustee | 40 | $0 |
Scott Hicks Vice President | OfficerTrustee | 2 | $0 |
Richard Morris Secretary | OfficerTrustee | 10 | $0 |
Jane Walker Treasurer | OfficerTrustee | 10 | $0 |
Paul Bates Chief Operations Officer | OfficerTrustee | 6 | $0 |
John Combs Director | Trustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $166,190 |
| Noncash contributions included in lines 1a–1f | $8,697 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $166,190 |
| Total Program Service Revenue | $0 |
| Investment income | $213 |
| 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 | $5,900 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $172,303 |
| 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 | $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 | $91,119 |
| Advertising and promotion | $1,176 |
| Office expenses | $3,222 |
| Information technology | $390 |
| Royalties | $0 |
| Occupancy | $39,824 |
| Travel | $6,250 |
| 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 | $0 |
| Insurance | $14,691 |
| All other expenses | $0 |
| Total functional expenses | $238,016 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $44,602 |
| Savings and temporary cash investments | $156,022 |
| 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 | $37,764 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $238,388 |
| Accounts payable and accrued expenses | $1,586 |
| 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 | $1,586 |
| Net assets without donor restrictions | $187,976 |
| Net assets with donor restrictions | $48,826 |
| 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 | $238,388 |