Michigan State Tr For Railway Pres Inc
- Assets
- $6.0m
- Revenue
- $2.3m
- Investments
- $0.0
- Employees
- 16
- Location
- Owosso, MI
- Founding
- 10/1980
- Data as of
- 12/2021
- EIN
- 38-2311833
Organization Overview
Michigan State Tr For Railway Pres Inc, operating under the name Steam Railroad Institute, is located in Owosso, MI. The organization was established in 1980. According to its NTEE Classification (A82) the organization is classified as: Historical Societies & Historic Preservation, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Steam Railroad Institute employed 16 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Steam Railroad Institute 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 12/2021, Steam Railroad Institute generated $2.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.6% each year. All expenses for the organization totaled $1.2m during the year ending 12/2021. While expenses have increased by 2.7% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PRESERVE THE KNOWLEDGE, SKILLS AND TECHNOLOGY INVOLVED WITH THE MAINTENANCE AND OPERATION OF STEAM LOCOMOTIVES AND TO EDUCATE THE PUBLIC ABOUT THE ENORMOUS IMPACT THAT THESE MACHINES HAD IN THE ECONOMIC DEVELOPMENT OF OWOSSO AND THE GREAT LAKES REGION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PRESERVE, EXHIBIT, AND MAINTAIN STEAM LOCOMOTIVE AND RELATED RAILROAD ROLLING STOCK, MAINTAIN HISTORIC EQUIPMENT AT OPERATIONAL STATUS FOR EDUCATION, EXHIBITION, AND SEMINARS.
DISSEMINATION OF HISTORICAL TECHNICAL INFORMATION ON STEAM LOCOMOTIVE REPAIR AND MAINTENANCE WITH PUBLICATIONS REACHING OVER 250 MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kimberly Springsdorf Executive Di | OfficerTrustee | 35 | $59,820 |
Paul Cook Treasurer | OfficerTrustee | 2 | $0 |
Aarne Frobom President (m | OfficerTrustee | 2 | $0 |
Randy Paquette President (j | OfficerTrustee | 2 | $0 |
Dennis Strelchuk Vice-Preside | OfficerTrustee | 2 | $0 |
Preston Claytor Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $17,193 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,116,363 |
| All other contributions, gifts, grants, and similar amounts not included above | $68,310 |
| Noncash contributions included in lines 1a–1f | $2,795 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,201,866 |
| Total Program Service Revenue | $1,067,219 |
| Investment income | $117 |
| 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 | $24,657 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,296,352 |
| 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. | $59,820 |
| Compensation of current officers, directors, key employees. | $29,910 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $211,025 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $22,511 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,454 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $19,873 |
| Advertising and promotion | $595 |
| Office expenses | $90,751 |
| Information technology | $5,503 |
| Royalties | $0 |
| Occupancy | $50,864 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,601 |
| Interest | $9,342 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $176,107 |
| Insurance | $12,592 |
| All other expenses | $0 |
| Total functional expenses | $1,166,395 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,725,358 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $7,500 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $52,007 |
| Prepaid expenses and deferred charges | $178,967 |
| Net Land, buildings, and equipment | $4,032,018 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $35,218 |
| Total assets | $6,031,068 |
| Accounts payable and accrued expenses | $178,902 |
| Grants payable | $0 |
| Deferred revenue | $165,977 |
| 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 | $228,450 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $5,759 |
| Total liabilities | $579,088 |
| Net assets without donor restrictions | $5,451,980 |
| 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 | $6,031,068 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Michigan State Tr For Railway Pres Inc has recieved totaling $5,000.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: HEALTH & HUMAN SERVICES | $5,000 |
Endowment Analysis
| Beg. Balance | $24,264 |
| Earnings | $3,376 |
| Admin Expense | $415 |
| Other Expense | $2,007 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Heritage Mark Foundation East Lansing, MI | $12,066,077 | $372,589 |
Detroit Historical Society Detroit, MI | $8,852,742 | $2,440,000 |
Ohio Historical Society Foundation Columbus, OH | $22,693,832 | $2,410,812 |
Carriage Town Ministries Flint, MI | $8,458,686 | $3,709,862 |
Historic Hoosier Hills R C & D Inc Versailles, IN | $314,933 | $2,266,391 |
Ohio & Erie Canalway Coalition Akron, OH | $9,640,021 | $4,067,863 |
Language Conservancy Bloomington, IN | $1,366,684 | $2,095,112 |
Northern In Historical Society South Bend, IN | $1,839,984 | $1,875,609 |
Historical Society Of Michigan Lansing, MI | $2,060,475 | $1,664,694 |
Michigan State Tr For Railway Pres Inc Owosso, MI | $6,031,068 | $2,296,352 |
Historical Society Of Saginaw County Inc Saginaw, MI | $1,645,608 | $1,278,498 |
Stark County Historical Society Canton, OH | $9,332,303 | $1,047,258 |