Loop Trolley Company
- Assets
- $179.1k
- Revenue
- $488.3k
- Investments
- $0.0
- Employees
- 2
- Location
- Saint Louis, MO
- Founding
- 02/2002
- Data as of
- 12/2022
- EIN
- 43-1937607
Organization Overview
Loop Trolley Company is located in Saint Louis, MO. The organization was established in 2002. 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. As of 12/2022, Loop Trolley Company employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Loop Trolley Company 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, Loop Trolley Company generated $488.3k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.9% each year. All expenses for the organization totaled $155.6k during the year ending 12/2022. 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
CREATION, PLANNING, FUNDING, PUBLIC EDUCATION, IMPLEMENTATION, CONSTRUCTION, AND OPERATION OF A PUBLIC NOT-FOR-PROFIT TROLLEY LINE OR LINES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE OTHE LOOP TROLLEY COMPANY (THE ORGANIZATION) IS A NOT-FOR-PROFIT MISSOURI CORPORATION WHOSE PURPOSE WAS TO CREATE, IMPLEMENT AND OPERATE A PUBLIC STREET CAR SYSTEM (THE LOOP TROLLEY PROJECT) AND TO PROVIDE PUBLIC EDUCATION REGARDING VINTAGE TROLLEY SYSTEMS. THE ORGANIZATION COLLABORATED WITH THE FOLLOWING MUNICIPALITIES, ENTITIES AND ORGANIZATIONS TO DEVELOP THE LOOP TROLLEY PROJECT:FEDERAL TRANSIT ADMINISTRATION (FTA)EAST-WEST GATEWAY COUNCIL OF GOVERNMENTS (EAST-WEST GATEWAY)THE LOOP TROLLEY TRANSPORTATION DEVELOPMENT DISTRICT (THE TDD)BI-STATE DEVELOPMENTCITY OF ST. LOUIS, MISSOURIUNIVERSITY CITY, MISSOURIST. LOUIS COUNTY, MISSOURIGREAT RIVERS GREENWAYCITIZENS FOR MODERN TRANSIT (CMT)MISSOURI DEPARTMENT OF TRANSPORTATIONTHE TDD HAS CONSTRUCTED THE LOOP TROLLEY PROJECT, WHICH ESTABLISHED A 2.2 MILE FIXED RAIL TROLLEY LINE ALONG DELMAR BOULEVARD AND DEBALIVIERE AVENUE, EXTENDING FROM NEAR THE DELMAR/TRINITY AVENUE INTERSECTION TO THE MISSOURI HISTORY MUSEUM IN FOREST PARK (THE TROLLEY SYSTEM). THE TDD IS RESPONSIBLE FOR MANAGING CONTRACTS AND THE CONSTRUCTION OF THE LOOP TROLLEY PROJECT. ALL CONSTRUCTION COSTS OF THE LOOP TROLLEY HAVE BEEN PAID FOR BY THE TDD. THE ORGANIZATION WAS RESPONSIBLE, BASED ON UPON THE EXECUTED OPERATING AND MAINTENANCE AGREEMENT WITH THE TDD (SEE BELOW), TO PROVIDE FUNDING TO THE TDD OF APPROXIMATELY $13 MILLION. THE TDD AND THE ORGANIZATION HAVE MUTUALLY AGREED (THROUGH THE OPERATING AND MAINTENANCE AGREEMENT) THAT ANY COST OVERRUNS ON THE CONSTRUCTION OF THE LOOP TROLLEY PROJECT ARE THE SOLE RESPONSIBILITY OF THE TDD. THE LOOP TROLLEY PROJECT BEGAN SERVICE IN NOVEMBER 2018 AND ENDED REGULAR SERVICE IN DECEMBER 2019.TO PRESERVE DIMINISHED SALES TAX REVENUES AND SUPPORT REGIONAL EFFORTS TO ELIMINATE COVID-19 DURING THE ONGOING PANDEMIC, THE LOOP TROLLEY WAS OUT OF SERVICE FOR MUCH OF 2020 AND ALL OF 2021. DURING 2022, THE ORGANIZATION BEGAN WINDING UP ITS ACTIVITIES TO WORK TOWARDS DISSOLUTION, AS THE MANAGMENT AND OPERATIONS OF TROLLEY SERVICE ACTIVITIES WERE ASSUMED BY BI-STATE DEVELOPMENT. AS A RESULT, ALL EXPENSES INCURRED IN 2022 WERE CLASSIFIED AS MANAGEMENT AND GENERAL EXPENSES ON THE ORGANIZATION'S SCHEDULE OF FUNCTIONAL EXPENSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John S Meyer Jr President | OfficerTrustee | 4 | $0 |
Thomas Schmittdiel Vice President | OfficerTrustee | 4 | $0 |
Tonnie Glispie-Smith Treasurer | OfficerTrustee | 4 | $0 |
Joe Adams Secretary | OfficerTrustee | 4 | $0 |
Jen Rieger Assistant Secretary | OfficerTrustee | 4 | $0 |
Tom Schmidt Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $179,524 |
| All other contributions, gifts, grants, and similar amounts not included above | $300,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $479,524 |
| Total Program Service Revenue | $0 |
| Investment income | $2,236 |
| 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 | $488,309 |
| 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. | $25,787 |
| Compensation of current officers, directors, key employees. | $25,787 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $29,084 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $7,352 |
| Payroll taxes | $6,422 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $6,413 |
| Fees for services: Accounting | $9,070 |
| 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 | $1,417 |
| Information technology | $3,808 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,455 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $8,968 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $47,590 |
| Insurance | $8,214 |
| All other expenses | $0 |
| Total functional expenses | $155,580 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $99,577 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $63,572 |
| 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 | $16,000 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $179,149 |
| Accounts payable and accrued expenses | $343,618 |
| 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 | $108,968 |
| Secured mortgages and notes payable | $14,116,086 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $14,568,672 |
| Net assets without donor restrictions | -$14,389,523 |
| 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 | $179,149 |