Overview
What is Lake Superior Railroad Musuem?
The Lake Superior Railroad Museum, situated in Duluth, Minnesota (506 W Michigan Street, 55802), is a dedicated nonprofit organization. Its primary purpose is to preserve and showcase railroad equipment, providing an insight into the history of industrial transportation in the Lake Superior region. The museum strives to collect, preserve, and house various artifacts, objects, and equipment that depict or demonstrate the history of railroading in Minnesota. The organization's mission is to educate the general public about the operations of a railroad and its equipment, offering a unique and engaging learning experience. With a staff of 57 dedicated individuals, the Lake Superior Railroad Museum is committed to keeping the rich history of railroading alive and accessible for all.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 94% (Four-Star out of Four Star Rating)
The Lake Superior Railroad Museum has received a commendable Four-Star rating from Charity Navigator, reflecting its strong performance in accountability and finance. The organization boasts an impressive 94% score, indicating a high level of fiscal responsibility and transparency. With 100% of its board members being independent, the museum demonstrates strong governance practices that contribute positively to its overall rating.
Financially, the museum shows a robust commitment to its mission with a program expense ratio of 90.23%, meaning that a significant portion of its funds directly supports its programs. Additionally, there are no reported material diversions of assets, and the organization has established policies for conflict of interest, whistleblower protections, and proper document retention, further enhancing its accountability.
Overall, the Lake Superior Railroad Museum stands out for its strong governance, financial health, and dedication to its programs. These attributes make it a trustworthy organization that effectively utilizes its resources to support its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Lake Superior Railroad Musuem legitimate?
Lake Superior Railroad Musuem is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lake Superior Railroad Musuem submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $59,927
Professional Fundraising Fees: $0
Other Salaries and Wages: $195,398
For more financial information, click here
What is the mission statement of Lake Superior Railroad Musuem?
The Lake Superior Railroad Museum's mission is centered around educating the public about the intricacies of railroad operations and its equipment. They strive to achieve this by providing historical presentations and preserving railroad artifacts. The museum collects, preserves, and houses various objects and equipment that illustrate or demonstrate the history of industrial transportation, with a particular focus on railroading in Minnesota. The museum's primary objective is to educate the general public about this significant aspect of history, offering a unique and interactive experience.
Who is the CEO of Lake Superior Railroad Musuem?
Neal Vanstrom is the Executive Di of Lake Superior Railroad Musuem.
What is the revenue of Lake Superior Railroad Musuem?
Lake Superior Railroad Musuem's revenue in 2022 was $1,334,219.
Who are the executives of Lake Superior Railroad Musuem and what are their salaries?
The average compensation at Lake Superior Railroad Musuem during 2022 was $4,479. There are 57 employees at Lake Superior Railroad Musuem.
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Where can I find the form 990 for Lake Superior Railroad Musuem?
Lake Superior Railroad Musuem's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Lake Superior Railroad Musuem
The Lake Superior Railroad Museum's primary mission is to educate the public about the intricacies of railroad operations and the equipment used in this field. By preserving historical railroad equipment and showcasing it for the general public, the museum aims to provide an engaging and enlightening experience. The organization is dedicated to collecting, preserving, and housing artifacts, objects, articles, specimens, and equipment that illustrate or demonstrate the history of industrial transportation in the Lake Superior region. Particular emphasis is given to equipment and other artifacts related to the history of railroading in Minnesota. In essence, the Lake Superior Railroad Museum serves as a vital resource for those interested in learning about the evolution and impact of railroads on transportation history.
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Impact
October, 2024
The Lake Superior Railroad Museum plays a vital role in educating the public about the history and operations of railroads and their equipment. By presenting historical exhibits and preserving iconic railroad artifacts, the museum enhances the understanding of industrial transportation in the Lake Superior region.
Located in Duluth, Minnesota, the museum focuses on collecting and showcasing pieces that illustrate the evolution of railroading, particularly within the state. Visitors benefit from engaging displays that highlight key developments in transportation history, fostering a greater appreciation for the role of railroads in shaping local and regional communities.
Through its dedication to education, the museum not only preserves significant historical items but also provides interactive experiences that draw in visitors of all ages. This commitment has a profound impact on the community, promoting local heritage while encouraging an interest in the technological advancements and stories that have defined the railroad industry in Minnesota.
This information is meant to be a general summary of Lake Superior Railroad Musuem. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $1,693
- Program Service Revenue: $646,203
- Gross Receipts: $1,334,219
Assets and Liabilities:
- Total Assets: $1,565,662
- Total Liabilities: $308,425
- Net Assets: $1,257,237
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
ADMISSIONS
Revenue
$334,083
RAILCAR RENTALS
Revenue
$190,000
MEMBERSHIP DUES
Revenue
$122,120
Organization Details
Phone
(218) 733-7590Principal Officer
Neal Vanstrom
Main Address
506 W MICHIGAN STREET, DULUTH, MN, 55802
NTEE Category
Code: A500 - Arts
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