Indiana Railway Museum Inc
- Assets
- $13.0m
- Revenue
- $253.8k
- Investments
- $0.0
- Employees
- 139
- Location
- French Lick, IN
- Founding
- 08/1969
- Data as of
- 12/2020
- EIN
- 23-7029065
Organization Overview
Indiana Railway Museum Inc is located in French Lick, IN. The organization was established in 1969. 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 12/2021, Indiana Railway Museum Inc employed 139 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Indiana Railway Museum 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 12/2020, Indiana Railway Museum Inc generated $253.8k 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 (29.2%) each year. All expenses for the organization totaled $1.3m during the year ending 12/2020. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
TO COLLECT, PRESERVE, RESTORE, AND OPERATE HISTORIC RAILWAY EQUIPMENT FOR THE EDUCATION OF THE GENERAL PUBLIC TO PROMOTE AND FOSTER RAILWAY EDUCATION AND EXPERIENCE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE INDIANA RAILWAY MUSEUM, INC OPERATES AN EXCURSION RAILWAY AND MUSEUM FOR THE HISTORIC MONON RAILWAY DEPOT IN FRENCH LICK, IN IN 2018 AND 2019 OVER 54,000PASSENGERS EXPERIENCED THE RIDE OF THE RAILROAD, ANNUALLY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
G Alan Barnett President | OfficerTrustee | 20 | $0 |
John Dolezal Treasurer | OfficerTrustee | 1 | $0 |
Steven Kimbley Vice Preside | OfficerTrustee | 1 | $0 |
Terry Thomas Secretary | OfficerTrustee | 1 | $0 |
Ralph Baker Director | Trustee | 1 | $0 |
Roger Brown Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $136,716 |
| Investment income | $2,453 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $600 |
| Net Gain/Loss on Asset Sales | -$8,000 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$7,941 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $253,771 |
| Statement of Expenses | |
|---|---|
| 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 to disqualified persons | $0 |
| Other salaries and wages | $304,402 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $23,536 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $12,496 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $9,233 |
| Office expenses | $20,720 |
| Information technology | $0 |
| Royalties | $464,540 |
| Occupancy | $44,910 |
| Travel | $4,350 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $741 |
| Interest | $28,226 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,177 |
| Insurance | $126,653 |
| All other expenses | $0 |
| Total functional expenses | $1,348,275 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $47,884 |
| Savings and temporary cash investments | $138,604 |
| 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 | $104,288 |
| Prepaid expenses and deferred charges | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $12,973,494 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $927,658 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $10,926,616 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $719,220 |
| Unsecured mortgages and notes payable | $400,000 |
| Other liabilities | $0 |
| Total liabilities | $2,046,878 |
| 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 |
| Total liabilities and net assets/fund balances | $10,926,616 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Indiana Railway Museum Inc has recieved totaling $73.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $73 |
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 |
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 |
Dusable Museum Of African American History Inc Chicago, IL | $17,602,670 | $3,496,098 |