Minnesota Transportation Museum Inc
- Assets
- $8.8m
- Revenue
- $2.5m
- Investments
- $0.0
- Employees
- 7
- Location
- St Paul, MN
- Founding
- 05/1970
- Data as of
- 12/2022
- EIN
- 23-7066156
Organization Overview
Minnesota Transportation Museum Inc is located in St Paul, MN. The organization was established in 1970. 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 12/2022, Minnesota Transportation Museum Inc employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Minnesota Transportation 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 12/2022, Minnesota Transportation Museum Inc generated $2.5m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 20.3% each year . All expenses for the organization totaled $1.1m during the year ending 12/2022. While expenses have increased by 2.4% per year over the past 8 years. They've been increasing with an increasing level of total revenue. 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 REGARDING THE HISTORY AND DEVELOPMENT OF TRANSPORTATION IN MINNESOTA AND TO PRESERVE THAT HISTORY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OSCEOLA TRAIN RIDE: RAILROAD DIVISION EXPENSES FOR PURCHASE, LEASE AND RESTORATION OF RAILWAY STEAM ENGINE PASSENGER & FREIGHT CARS, AQUISITION OF USEFUL TOOLS & MACHINERY FOR CARRYING RESTORATION WORK, & OPERATING PUBLIC TRAIN RIDES FROM OSCEOLA, WI TO MARINE, MN OR DRESSER, WI
JACKSON STREET MUSEUM: ROUNDHOUSE DIVISION EXPENSES FOR MN'S RAILROAD HISTORY INCLUDING RESTORATION OF THE ROUNDHOUSE, EXHIBITS, ROLLING STOCK, & THE MAINTENANCE FACILITY & RELATED EQUIPMENT & TOOLS FOR DEVELOPING A MUSEUM WITHIN THE ROUNDHOUSE FOR PUBLIC ENJOYMENT
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lane Litrell At Large | Trustee | 5 | $0 |
Kurt Mahre Vice Chairman | OfficerTrustee | 20 | $0 |
Deborah Wood Tresurer | OfficerTrustee | 20 | $0 |
Gordon Barr At Large | Trustee | 5 | $0 |
Wayne Merchant Chairman | OfficerTrustee | 20 | $0 |
Gary Yazel At Large | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $18,433 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,643,412 |
| Noncash contributions included in lines 1a–1f | $750,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,661,845 |
| Total Program Service Revenue | $685,172 |
| Investment income | $28,203 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $53 |
| Net Gain/Loss on Asset Sales | -$25,865 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $14,583 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,468,665 |
| 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 | $146,373 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $12,374 |
| Fees for services: Accounting | $31,290 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $21,078 |
| Fees for services: Other | $79,671 |
| Advertising and promotion | $72,265 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $12,000 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $28,680 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $173,631 |
| Insurance | $107,933 |
| All other expenses | $29,734 |
| Total functional expenses | $1,071,101 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $589,441 |
| Savings and temporary cash investments | $2,154,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $31,996 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $33,305 |
| Prepaid expenses and deferred charges | $16,365 |
| Net Land, buildings, and equipment | $2,901,765 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,100,435 |
| Total assets | $8,827,307 |
| Accounts payable and accrued expenses | $104,611 |
| Grants payable | $0 |
| Deferred revenue | $22,794 |
| 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 | $750,938 |
| Total liabilities | $878,343 |
| Net assets without donor restrictions | $5,724,077 |
| Net assets with donor restrictions | $2,224,887 |
| 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 | $8,827,307 |