Las Vegas Monorail Company
- Assets
- $204.4m
- Revenue
- $22.7m
- Investments
- $0.0
- Employees
- 161
- Location
- Las Vegas, NV
- Founding
- Data as of
- 12/2019
- EIN
- 88-0471789
Organization Overview
Las Vegas Monorail Company is located in Las Vegas, NV. As of 12/2019, Las Vegas Monorail Company employed 161 individuals. Las Vegas Monorail Company is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2019, Las Vegas Monorail Company generated $22.7m in total revenue. The organization has seen a slow decline revenue. Over the past 5 years, revenues have fallen by an average of (0.1%) each year. All expenses for the organization totaled $38.3m during the year ending 12/2019. As we would expect to see with falling revenues, expenses have declined by (0.2%) per year over the past 5 years. 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
2019
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE PUBLIC TRANSPORTATION CONSISTENT WITH THE OVERALL TRANSPORTATION OBJECTIVES OF CLARK COUNTY, NEVADA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TICKET SALES - TICKET SALES ARE THE MAIN SOURCE OF REVENUE FOR THE LAS VEGAS MONORAIL COMPANY. THE ORGANIZATION SELLS TICKETS TO RIDERS OF THE MONORAIL TRANSPORTATION SYSTEM, WHICH CARRIED 4,635,663 RIDERS IN 2019.
ADVERTISING - ADVERTISING IS A SECONDARY SOURCE OF REVENUE FOR THE LAS VEGAS MONORAIL COMPANY. THE ORGANIZATION SELLS SPACE TO ADVERTISERS ON THE TRAINS AND STATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Curtis L Myles III President & CEO | Officer | 50 | $417,382 |
Peter Mccann Sr VP & COO | Officer | 50 | $279,359 |
Ingrid Reisman Sr VP Of Corp. Communications | Officer | 50 | $274,579 |
Barrick Neill VP Of Operations | Officer | 50 | $244,015 |
Simeon Salzman CFO | Officer | 50 | $174,346 |
Anthony Charles It Director | 40 | $130,268 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Umb Bank Bond Trustee - 2019 | 12/30/19 | $513,449 |
Stradling Yocca Carlson Bond Counsel | 12/30/19 | $378,131 |
Roller Bearing Company Of America Train Bearings | 12/30/19 | $246,355 |
Wells Fargo Trustee Bond Trustee - 2012 | 12/30/19 | $467,167 |
Willis Insurance Services Insurance Premiums | 12/30/19 | $460,730 |
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 | $22,517,442 |
| Investment income | $145,961 |
| 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 | $22,663,403 |
| 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. | $2,097,452 |
| Compensation of current officers, directors, key employees. | $2,097,452 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,871,092 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,846,859 |
| Payroll taxes | $601,832 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $162,168 |
| Fees for services: Accounting | $65,230 |
| Fees for services: Lobbying | $15,590 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $265,389 |
| Advertising and promotion | $764,982 |
| Office expenses | $129,478 |
| Information technology | $158,235 |
| Royalties | $0 |
| Occupancy | $136,929 |
| Travel | $34,029 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $959,282 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $16,178,027 |
| Insurance | $1,302,785 |
| All other expenses | $0 |
| Total functional expenses | $38,318,019 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,092,887 |
| Savings and temporary cash investments | $8,681,136 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $907,475 |
| 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 | $773,757 |
| Net Land, buildings, and equipment | $190,671,348 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,299,024 |
| Total assets | $204,425,627 |
| Accounts payable and accrued expenses | $1,975,652 |
| Grants payable | $0 |
| Deferred revenue | $1,254,076 |
| Tax-exempt bond liabilities | $19,454,666 |
| 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 | $113,188 |
| Other liabilities | $24,248 |
| Total liabilities | $22,821,830 |
| Net assets without donor restrictions | $1,819,166 |
| Net assets with donor restrictions | $179,784,631 |
| 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 | $204,425,627 |
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