Nevada Northern Railway Foundation Inc
- Assets
- $12.3m
- Revenue
- $3.2m
- Investments
- $0.0
- Employees
- 30
- Location
- Ely, NV
- Founding
- 10/1985
- Data as of
- 12/2022
- EIN
- 88-0203211
Organization Overview
Nevada Northern Railway Foundation Inc is located in Ely, NV. The organization was established in 1985. According to its NTEE Classification (A54) the organization is classified as: History Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2022, Nevada Northern Railway Foundation Inc employed 30 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Nevada Northern Railway Foundation Inc 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, Nevada Northern Railway Foundation Inc generated $3.2m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 12.2% each year . All expenses for the organization totaled $2.9m during the year ending 12/2022. While expenses have increased by 9.5% per year over the past 5 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE PRIMARY PURPOSE IS TO INCREASE PUBLIC AWARENESS AND APPRECIATION FOR THE HISTORY OF WHITE PINE COUNTY, NEVADA. THIS IS ACCOMPLISHED THROUGH THE USE OF HISTORIC STEAM TRAIN RIDES AND A MUSEUM DEDICATED TO MAINTAINING AND PRESERVING AN INTEGRAL PART OF ITS ILLUSTRIOUS PAST.IT IS THE MUSEUM'S MISSION: TO PRESERVE AND RESTORE TO OPERATING CONDITION, THE COMPLETE COLLECTION OF THE NEVADA NORTHERN RAILWAY FOR THE EDUCATION AND ENJOYMENT OF PRESENT AND FUTURE GENERATIONS, TO PRESERVE THE MUSEUM'S SEVENTY-TWO BUILDINGS AND STRUCTURES FOR THE PERMANENT PROTECTION AND DISPLAY OF THE LOCOMOTIVES, RAILROAD CARS AND EQUIPMENT,TO PERPETUATE THE MEMORY OF THE "CAN-DO" SPIRIT AND VISION THAT BUILT NOT ONLY NEVADA BUT THE UNITED STATES, TO TEACH AND MAKE AVAILABLE THE INDISPENSABLE HERITAGE INDUSTRIAL ARTS, MECHANICAL SKILLS AND TECHNIQUES NEEDED TO PRESERVE, MAINTAIN AND OPERATE ALL COMPONENTS OF THE RAILROAD.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE OPERATION OF HISTORIC SIGHTSEEING TRAIN, MUSEUM AND RESTORATION OF YARD AND BUILDINGS CONTINUES. RIDERSHIP IS INCREASING AND MORE TOURS ARE STOPPING OR ARE ORGANIZED SPECIFICALLY TO ENJOY THE TRAIN. THE TRAIN AND MUSEUM HAVE A PROFOUND BENEFIT TO THE LOCAL TOURISM ECONOMY OF WHITE PINE COUNTY. THE MUSEUM HAS RECEIVED NATIONAL HISTORIC LANDMARK DESIGNATION BY THE NATIONAL PARK SERVICE, AS THE BEST PRESERVED SHORTLINE RAILROAD IN THE NATION. THE MCGILL DEPOT RESTORATION CONTINUES. THIS BUILDING HAS BEEN STABILIZED AND ENCLOSED PREVENTING FURTHER DETERIORATION. TRACK HAS BEEN RESTORED AND MANY BUILDINGS IN THE YARD HAVE BEEN REROOFED AND STABILIZED. THE HISTORIC TRACK THROUGH ELY HAS BEEN OPENED FROM THE RAILYARD TO PUBLIC MUSEUM, WITH PLANNED RIDES BETWEEN THE TWO MUSEMUMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark S Bassett President | Officer | 60 | $104,808 |
Joan Bassett Secretary/treas | Officer | 40 | $56,841 |
Jim Alworth Director | Trustee | 1 | $0 |
John Gianoli Chairman | Trustee | 10 | $0 |
Carl Marsh Vice Chairman | Trustee | 3 | $0 |
Roger Bowers Director | Trustee | 6 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Reck Brothers Construction | 12/30/22 | $361,066 |
Taylor Print Impressions Printing | 12/30/22 | $106,795 |
Maupincoxlegoy Legal | 12/30/22 | $154,396 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $807,471 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,016,206 |
| Noncash contributions included in lines 1a–1f | $61,003 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,823,677 |
| Total Program Service Revenue | $1,004,350 |
| Investment income | $547 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,500 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,161,357 |
| 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. | $161,649 |
| Compensation of current officers, directors, key employees. | $80,702 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $685,815 |
| Pension plan accruals and contributions | $15,907 |
| Other employee benefits | $87,084 |
| Payroll taxes | $103,176 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $264,925 |
| Fees for services: Accounting | $16,599 |
| Fees for services: Lobbying | $38,558 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $48,000 |
| Advertising and promotion | $137,287 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $80,288 |
| Travel | $5,943 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $8,294 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $477,949 |
| Insurance | $0 |
| All other expenses | $229,261 |
| Total functional expenses | $2,940,548 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $472,211 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $443,969 |
| Accounts receivable, net | $15,846 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $46,427 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $11,329,224 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $8,301 |
| Total assets | $12,315,978 |
| Accounts payable and accrued expenses | $9,047 |
| Grants payable | $0 |
| Deferred revenue | $443,000 |
| 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 | $589,117 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $53,115 |
| Total liabilities | $1,094,279 |
| Net assets without donor restrictions | $4,989,199 |
| Net assets with donor restrictions | $6,232,500 |
| 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 | $12,315,978 |