Overview
What is Lake Shore Railway Association Inc?
Lake Shore Railway Association Inc, based in Wellington, Ohio, is a nonprofit organization dedicated to the restoration and preservation of historical railroad equipment. With a focus on an abandoned 18.8-mile railroad track, they aim to revive this line and operate it as a historical rail line. Their mission is to educate the public about the rich history of railroading. By doing so, they not only contribute to preserving this heritage but also offer the general public an opportunity to engage with this fascinating aspect of our past.
Official website here: www.lwvry.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 67% (Two-Star out of Four Stars)
The Lake Shore Railway Association Inc has received a Two-Star rating from Charity Navigator, primarily reflecting its Accountability & Finance score of 67%. This score is derived from various financial metrics, indicating that while there are some strong points, there are significant areas that require improvement.
One of the strengths of the organization includes having a fully independent board, with all ten members meeting this criterion. Additionally, there has been no material diversion of assets, and essential documents such as board meeting minutes are properly maintained. However, the charity lacks important policies related to conflict of interest and whistleblower protections, which significantly impacted its accountability score.
Furthermore, the organization has a reasonable program expense ratio of 62.88%, suggesting that a good portion of its expenditures supports its mission. Nonetheless, the absence of crucial governance policies raises concerns regarding transparency and oversight, which potential donors may want to consider.
This AI summary has been generated from information found on Charity Navigator.
Is Lake Shore Railway Association Inc legitimate?
Lake Shore Railway Association Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lake Shore Railway Association Inc 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:
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Other Salaries and Wages: $0
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Official website here: www.lwvry.org
What is the mission statement of Lake Shore Railway Association Inc?
The Lake Shore Railway Association Inc's mission is centered around preserving the historical significance of railroad equipment and operating a non-profit railroad line for public use. Their primary objective is to promote education on railroading. To achieve this, they restore abandoned railroad tracks, totaling 18.8 miles, and renovate related equipment. This historical rail line serves as an educational platform, fostering interest in railroading for the general public.
Official website here: www.lwvry.org
Who is the CEO of Lake Shore Railway Association Inc?
Marc Chappo is the President of Lake Shore Railway Association Inc.
Official website here: www.lwvry.org
What is the revenue of Lake Shore Railway Association Inc?
Lake Shore Railway Association Inc's revenue in 2022 was $78,058.
Official website here: www.lwvry.org
Who are the executives of Lake Shore Railway Association Inc and what are their salaries?
There 70 volunteers at Lake Shore Railway Association Inc.
Here are 8 key members and their salaries:
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Official website here: www.lwvry.org
Where can I find the form 990 for Lake Shore Railway Association Inc?
Lake Shore Railway Association Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.lwvry.org
Learn more at the official website: www.lwvry.org
Mission Statement of Lake Shore Railway Association Inc
Lake Shore Railway Association Inc is dedicated to the promotion of railroading history and education. Their mission involves the application, restoration, and preservation of railroad equipment of significant historical value. The association aims to establish and operate a non-profit railroad line, accessible to the public, for the purpose of showcasing and educating individuals about railroading's historical context. By restoring 18.8 miles of abandoned railroad and refurbishing equipment, Lake Shore Railway Association Inc contributes to the preservation of railroading history while offering the general public an engaging and educational experience.
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Impact
August, 2024
Lake Shore Railway Association Inc's impact is significant in the preservation and promotion of the history of railroading in its community. By operating a historical rail line and restoring equipment with special historical significance, the organization not only educates the public about the rich history of railroads but also provides an opportunity for the general public to experience and enjoy a piece of this history firsthand. Through its mission to promote the acquisition, restoration, and preservation of railroad equipment, Lake Shore Railway Association Inc plays a vital role in preserving this important aspect of transportation history for future generations.
This information is meant to be a general summary of Lake Shore Railway Association Inc. 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.
- Program Service Revenue: $59,913
- Gross Receipts: $78,058
Assets and Liabilities:
- Total Assets: $1,037,525
- Total Liabilities: $38,514
- Net Assets: $999,011
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Scenic & Sightseeing Transportation
Revenue
$59,913
Organization Details
Founding Year
1979
Phone
(440) 647-6660Principal Officer
Marc Chappo
Main Address
PO BOX 3, WELLINGTON, OH, 440900003
Website
www.lwvry.orgNTEE Category
Code: A82Z - Arts
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