M-2 Rail
- Assets
- $116.0m
- Revenue
- $41.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Detroit, MI
- Founding
- 07/2014
- Data as of
- 09/2022
- EIN
- 30-0783442
Organization Overview
M-2 Rail is located in Detroit, MI. The organization was established in 2014. According to its NTEE Classification (W40) the organization is classified as: Public Transportation Systems, under the broad grouping of Public & Societal Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. M-2 Rail 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, M-2 Rail generated $41.7m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.8% each year . All expenses for the organization totaled $6.1m during the year ending 09/2022. 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 SUPPORT AND CARRY OUT THE EXEMPT PURPOSES OF M-1 RAIL, A MICHIGAN NONPROFIT CORPORATION
Describe the Organization's Program Activity:
Part 3 - Line 4a
ONGOING OPERATION OF A PUBLIC TRANSPORTATION SYSTEM
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Matthew P Cullen Chair And Director | OfficerTrustee | 1 | $0 |
Roger S Penske Vice-Chair And Director | OfficerTrustee | 1 | $0 |
Kenneth Dilaura Vice-President And C.f.o. | Officer | 20 | $0 |
Paul Trulik Treasurer | Officer | 1 | $0 |
David Blaszkiewicz Secretary | Officer | 1 | $0 |
Lisa Nuszkowski President, C.o.o., And Asst. Sec. | Officer | 20 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Hntb Michigan Inc Owner's Representative | 9/29/21 | $570,096 |
Turner Construction Company Construction Management | 9/29/21 | $109,276 |
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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $507,500 |
| Investment income | $1 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $41,676,501 |
| 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 | $3,050 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $148,729 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,973,082 |
| Insurance | $0 |
| All other expenses | $1,522 |
| Total functional expenses | $6,126,383 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $730,924 |
| Savings and temporary cash investments | $0 |
| 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 | $115,298,430 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $116,029,354 |
| Accounts payable and accrued expenses | $47,913 |
| 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 | $49,269,333 |
| Total liabilities | $49,317,246 |
| Net assets without donor restrictions | $66,712,108 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $116,029,354 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
M-2 Rail Detroit, MI | $116,029,354 | $41,676,501 |
Huron Transit Corporation Thumb Area Transit Bad Axe, MI | $6,017,153 | $5,346,037 |
Oscoda-Wurtsmith Airport Authority Oscoda, MI | $44,123,314 | $2,449,059 |
Ddp Bike Share Corporation Detroit, MI | $1,018,187 | $1,904,657 |
International Safe Transit Association East Lansing, MI | $3,378,946 | $2,000,648 |
South Central Ohio Transit Hillsboro, OH | $984,138 | $1,105,343 |
Michigan Transportation Connection East Lansing, MI | $178,070 | $749,243 |
Tri-County Busing Inc Cadillac, MI | $985,408 | $901,544 |
Michigan Public Transit Assn Inc East Lansing, MI | $611,688 | $672,747 |
Ohio Public Transit Association Columbus, OH | $265,769 | $493,017 |
Plasterers And Cement Masons Apprenitceship Train Fund Loc 692 Merrillville, IN | $1,772,992 | $732,233 |
Indianapolis Public Transportation Foundation Inc Indianapolis, IN | $116,111 | $438,558 |