Brooks Preservation Society
- Assets
- $1.5m
- Revenue
- $305.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Unity, ME
- Founding
- 01/2009
- Data as of
- 12/2023
- EIN
- 26-2798541
Organization Overview
Brooks Preservation Society, operating under the name Belfast and Moosehead Lake Railroad, is located in Unity, ME. The organization was established in 2009. 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. Belfast and Moosehead Lake Railroad 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, Belfast and Moosehead Lake Railroad generated $305.5k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 16.1% each year . All expenses for the organization totaled $199.1k during the year ending 12/2023. While expenses have increased by 8.9% per year over the past 6 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PRESERVE, MAINTAIN, OPERATE THE BELFAST MOOSEHEAD LAKE RAILROAD
Describe the Organization's Program Activity:
Part 3 - Line 4a
PRESERVE, MAINTAIN, OPERATE THE BELFAST MOOSEHEAD LAKE RAILROAD. 2023 CONCLUDED WITH OVER 12,000 PASSENGERS ATTENDING OUR EVENTS INCLUDING OVER 4,300 USING THE TRAIN FOR THE COMMON GROUND COUNTY FAIR. SWITCHES SAVED FROM THE MADISON BRANCH WERE INSTALLED IN THE UNITY YARD RESTORING THE STORAGE TRACK AND LEAD TO THE TURN TABLE PIT THAT WERE REMOVED BY THE PRIOR OPERATOR. 4 WASHOUTS THAT OCCURED OVER THE WINTER WERE REPAIRED MOSTLY IN OUR NON REVENUE MILAGE.
RAILCYCLE PROGRAM - OVERSEEN BY THE TIMELESS COMMUNITY GROUP BASED IN THORNDIKE THE RAILCYCLE PROGRAM IS WEATHER DEPENDANT AND SAW NUMEROUS CANCELLATIONS DUE TO WEATHER. IN SPITE OF WEATHER THE PROGRAM SAW 826 RIDERS.
LOCOMOTIVE PROGRAM - REPAIRS MAINTENANCE 1483 REMAINS OUR PRIMARY LOCOMOTIVE. 1483 WAS PAID OFF THIS YEAR AND NOW BELONGS TO BPS/BML. 1950 IS OUR BACKUP UNIT. PAINTING OF 1950 IS UNDERWAY. ISSUES REMAIN WITH FUEL LINES ON THE 2ND ENGINE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joey Feero Executive Director | OfficerTrustee | 40 | $0 |
Michael Francoeur Director/treasurer | OfficerTrustee | 40 | $0 |
Howard Betts Director/roadmaster | OfficerTrustee | 24 | $0 |
Paul Cronin Director | Trustee | 2 | $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 | $37,743 |
| Noncash contributions included in lines 1a–1f | $1,200 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $37,743 |
| Total Program Service Revenue | $223,424 |
| Investment income | $7 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $39,848 |
| 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 | $4,441 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $305,463 |
| 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 | $0 |
| Advertising and promotion | $6,175 |
| Office expenses | $9,568 |
| Information technology | $449 |
| Royalties | $0 |
| Occupancy | $51,074 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $24,482 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $15,240 |
| All other expenses | $21,672 |
| Total functional expenses | $199,053 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $39,904 |
| 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 | $0 |
| Net Land, buildings, and equipment | $1,415,393 |
| Investments—publicly traded securities | $795 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,456,092 |
| 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 | $670,726 |
| Unsecured mortgages and notes payable | $107,500 |
| Other liabilities | $0 |
| Total liabilities | $778,226 |
| 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 | $677,866 |
| Total liabilities and net assets/fund balances | $1,456,092 |