Mid-Continent Railway Historical Society Inc
- Assets
- $12.6m
- Revenue
- $4.3m
- Investments
- $280.3k
- Employees
- 9
- Location
- North Freedom, WI
- Founding
- 12/1961
- Data as of
- 10/2021
- EIN
- 39-1023326
Organization Overview
Mid-Continent Railway Historical Society Inc, operating under the name Mid-Continent Railway Museum, is located in North Freedom, WI. The organization was established in 1961. 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 10/2021, Mid-Continent Railway Museum employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mid-Continent Railway Museum 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 10/2021, Mid-Continent Railway Museum generated $4.3m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 19.2% each year . All expenses for the organization totaled $400.9k during the year ending 10/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
MID-CONTINENT RAILWAY HISTORICAL SOCIETY--ALSO KNOWN AS MID-CONTINENT RAILWAY MUSEUM--IS AN OUTDOOR, LIVING MUSEUM AND OPERATING RAILROAD RECREATING THE SMALL TOWN/SHORT LINE WAY OF LIFE DURING THE GOLDEN AGE OF RAILROADING, WITH OPERATING TRAINS, EDUCATIONAL EXHIBITS, AND DISPLAYS OF RESTORED ROLLING STOCK. THE PURPOSE IS TO MAINTAIN AND OPERATE A MUSEUM AND HISTORICAL ORGANIZATION PERPETUATING THE MEMORY AND HISTORY OF RAILROADING, INCLUDING THE PEOPLE, EQUIPMENT & GEOGRAPHICAL LOCATIONS THEREIN INVOLVED, AND TO ENGAGE IN, ASSIST AND ENDOW SUCH LITERARY & EDUCATIONAL ACTIVITIES AND UNDERTAKINGS AS WILL AID AND ABET IN PRESERVING SAID MEMORY AND HISTORY.
Describe the Organization's Program Activity:
THE SOCIETY CONTINUED ITS PROGRAM SERVICES BY OFFERING EDUCATIONAL DEMONSTRATION RIDES FOR MUSEUM VISITORS IN ITS VINTAGE RAILROAD EQUIPMENT, PROVIDING TOURS THROUGH HISTORIC RAILROAD EQUIPMENT THAT HAS BEEN RESTORED OR IS UNDERGOING RESTORATION, ENTERTAINING REQUESTS FOR PRESENTATIONS TO AREA COMMUNITY CLUBS AND SCHOOLS, PROVIDING OPPORTUNITIES TO LEARN HISTORIC RAILROAD OPERATING AND MAINTENANCE PRACTICES THROUGH ITS VOLUNTEER TRAINING PROGRAMS, AND THE PUBLISHING OF A MEMBER MAGAZINE, NEWSLETTER, AND ANNUAL CALENDAR. OUTREACH ALSO OCCURS DIGITALLY, THROUGH THE SHARING OF RAILROAD HISTORICAL AND TECHNICAL INFORMATION VIA RESTORATION BLOGS AND OTHER SUCH METHODS, DISTRIBUTED TO WEBSITE, EMAIL, AND SOCIAL MEDIA AUDIENCES.MAJOR DEVELOPMENTS IN 2020-2021 INCLUDED REOPENING THE MUSEUM AND TRAIN RIDES TO THE PUBLIC AFTER HAVING CLOSED FOR AN EXTENDED PERIOD OF TIME AS A HEALTH SAFETY PRECAUTION DURING THE COVID-19 PANDEMIC. SIGNIFICANT PROGRESS WAS ALSO MADE ON SEVERAL RESTORATION PROJECTS, INCLUDING ONE OF THE OLDEST AND MOST INTACT WOODEN RAILROAD SLEEPING CARS AND CONTINUED WORK ON RESTORING TO OPERATION A HISTORIC STEAM LOCOMOTIVE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kelly Bauman Vice President | OfficerTrustee | 1 | $0 |
Colin O'brien Secretary | OfficerTrustee | 1 | $0 |
Robert Anderson Treasurer | OfficerTrustee | 1 | $0 |
Jeffrey Bloohm President | Officer | 1 | $0 |
Dave Schumacher Director (thru December 2020) | Trustee | 1 | $0 |
Chris Salmonson Director (from March) | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $22,157 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,072,554 |
| Noncash contributions included in lines 1a–1f | $2,801,501 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,094,711 |
| Total Program Service Revenue | $171,864 |
| Investment income | $31,588 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $7,182 |
| 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 | $16,594 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,329,369 |
| 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 | $67,179 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $4,718 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $12,700 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $6,203 |
| Advertising and promotion | $27,821 |
| Office expenses | $21,696 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $13,008 |
| Travel | $2,237 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $15,445 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $135,681 |
| Insurance | $64,151 |
| All other expenses | $786 |
| Total functional expenses | $400,895 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $507,441 |
| Savings and temporary cash investments | $382,630 |
| Pledges and grants receivable | $90,471 |
| 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 | $37,688 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $6,329,570 |
| Investments—publicly traded securities | $3,051,316 |
| Investments—other securities | $280,293 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,893,188 |
| Total assets | $12,572,597 |
| Accounts payable and accrued expenses | $9,120 |
| Grants payable | $0 |
| Deferred revenue | $47,318 |
| 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 | $0 |
| Total liabilities | $56,438 |
| Net assets without donor restrictions | $11,655,533 |
| Net assets with donor restrictions | $860,626 |
| 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 | $12,572,597 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Mid-Continent Railway Historical Society Inc has recieved totaling $15,779.
| Awarding Organization | Amount |
|---|---|
Rail Heritage Trust Paola, KS PURPOSE: LOCOMOTIVE RESTORATION | $15,000 |
Alliant Energy Foundation Inc Madison, WI PURPOSE: MATCHING GIFTS | $512 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $267 |
Endowment Analysis
| Beg. Balance | $241,942 |
| Earnings | $78,209 |
| Net Contributions | $32,000 |
| Ending Balance | $352,151 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Dubuque County Historical Society Dubuque, IA | $42,203,208 | $9,721,079 |
Heritage Mark Foundation East Lansing, MI | $12,066,077 | $372,589 |
Detroit Historical Society Detroit, MI | $8,852,742 | $2,440,000 |
Carriage Town Ministries Flint, MI | $8,458,686 | $3,709,862 |
Minnesota Landmarks St Paul, MN | $7,312,284 | $2,339,984 |
Friends Of The Chicago River Chicago, IL | $1,960,790 | $1,822,157 |
Midwest Art Conservation Center Inc Minneapolis, MN | $2,125,685 | $1,795,271 |
Iowa Railroad Historical Society Boone, IA | $4,623,282 | $1,830,405 |
Landmarks Preservation Council Chicago, IL | $10,408,115 | $1,991,527 |
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 |
Ramsey County Historical Society Inc Saint Paul, MN | $5,355,556 | $1,137,123 |