Railroading Heritage of Midwest America Inc

Analysis

Railroading Heritage of Midwest America Inc is a registered charity in United States, based in Blaine, MN. It received its IRS tax-exemption ruling in April 1997, 29 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 December 2023, Railroading Heritage of Midwest America Inc reported income of $8.8m and spending of $3.1m, leaving 65% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.0m to $8.8m (+334%), an average of +44% a year. The sharpest change came in the year to December 2022, when income rose by 385%. Over the whole period it spent 38% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Railroading Heritage of Midwest America Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 94th percentile within MN. Charities of a similar size with the same main cause include Scratch Foundation ($8.8m), Wings Over the Rockies Air & Space Museum ($8.8m) and The American Ceramic Society Inc ($8.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 71% and program service revenue 15% of the total. Compensation of current officers, directors and key employees was $255k (8.4% of expenses). Other salaries and wages came to $233k. At year end it held assets of $16.6m against liabilities of $453k, net assets of $16.1m. It reported 10 employees.