Duluth & North Shore Railway Inc

Analysis

Duluth & North Shore Railway Inc is a registered charity in United States, based in Duluth, MN. It received its IRS tax-exemption ruling in November 1996, 30 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, Duluth & North Shore Railway Inc reported income of $3.2m and spending of $3.1m, spending 100% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.2m to $3.2m (+43%), an average of +9.4% a year. The sharpest change came in the year to December 2021, when income rose by 122%. Over the whole period it spent 96% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Duluth & North Shore Railway Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 89th percentile within MN. Charities of a similar size with the same main cause include United States Institute for Theatre Technology Inc ($3.2m), The New Press Inc ($3.2m) and California Jazz Conservatory Inc ($3.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 1.6% and program service revenue 88% of the total. Compensation of current officers, directors and key employees was $24k (0.8% of expenses). Other salaries and wages came to $626k. At year end it held assets of $696k against liabilities of $168k, net assets of $528k.