Illinois Railway Museum

Analysis

Illinois Railway Museum is a registered charity in United States, based in Union, IL. It received its IRS tax-exemption ruling in July 1957, 69 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Illinois Railway Museum reported income of $4.6m and spending of $2.8m, leaving 38% of income unspent that year. Across the 5 years on record, from September 2019 to September 2023, income grew from $2.3m to $4.6m (+104%), an average of +20% a year. The sharpest change came in the year to September 2021, when income rose by 161%. Over the whole period it spent 63% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Illinois Railway Museum sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 92nd percentile within IL. Charities of a similar size with the same main cause include St George Theatre Restoration Inc ($4.6m), Meserve-Kunhardt Foundation Inc ($4.6m) and Big Ears Festival ($4.6m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 49% and program service revenue 40% of the total. Compensation of current officers, directors and key employees was $60k (2.1% of expenses). Other salaries and wages came to $179k. At year end it held assets of $19.1m against liabilities of $666k, net assets of $18.4m. It reported 44 employees.