Kentucky Railway Museum Inc

Analysis

Kentucky Railway Museum Inc is a registered charity in United States, based in New Haven, KY. It received its IRS tax-exemption ruling in October 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 December 2023, Kentucky Railway Museum Inc reported income of $1.4m and spending of $1.4m, spending 98% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.2m to $1.4m (+18%), an average of +4.2% a year. The sharpest change came in the year to December 2022, when income rose by 121%. Over the whole period it spent 89% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Kentucky Railway Museum Inc sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 84th percentile within KY. Charities of a similar size with the same main cause include Robert C Maynard Institute for Journalism Education ($1.4m), St Paul Neighborhood Network ($1.4m) and Creativets ($1.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 41% and program service revenue 53% of the total. Compensation of current officers, directors and key employees was $112k (7.9% of expenses). Other salaries and wages came to $126k. At year end it held assets of $1.9m against liabilities of $189k, net assets of $1.7m. It reported 9 employees.