Iowa Railroad Historical Society

Analysis

Iowa Railroad Historical Society is a registered charity in United States, based in Boone, IA. It received its IRS tax-exemption ruling in September 1983, 43 years ago. 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, Iowa Railroad Historical Society reported income of $1.8m and spending of $1.9m, spending 102% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.5m to $1.8m (+18%), an average of +4.3% a year. The sharpest change came in the year to December 2021, when income rose by 94%. Over the whole period it spent 93% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Iowa Railroad Historical Society sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 87th percentile within IA. Charities of a similar size with the same main cause include Habitat for Humanity International Inc ($1.8m), Dothan Houston County Library System ($1.8m) and Foundry Educational Foundation ($1.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 9.3% and program service revenue 92% of the total. Compensation of current officers, directors and key employees was $65k (3.5% of expenses). Other salaries and wages came to $312k. At year end it held assets of $5.1m against liabilities of $1.2m, net assets of $3.9m. It reported 10 employees.