Overview
What is Illinois Railway Museum Inc?
The Illinois Railway Museum Inc, located in Union, Illinois, is a dedicated nonprofit organization with a mission to educate the public about the significant role of railroads in the development of the country. Their activities primarily involve the public display and operation of their extensive collection of railroad equipment and memorabilia, such as electric cars, diesel, steam, and trolley buses. This educational endeavor includes restoring and maintaining the collection, as well as preserving the site. The museum attracts an annual attendance of approximately 66,000 people. With a workforce of 40 employees, the Illinois Railway Museum Inc strives to share the rich history of railroads and railways with the public through demonstrations, exhibitions, and a comprehensive reference library.
Official website here: www.irm.org
What are the reviews and ratings of this charity?
Charity Navigator Rating 92% - Four-Star out of Four Star rating
Illinois Railway Museum Inc has earned a strong 92% rating from Charity Navigator, indicating a high level of accountability and financial health. The score reflects a well-managed organization with a majority of independent board members and effective oversight measures in place. Notably, the museum has a healthy program expense ratio, demonstrating that a significant portion of their funds is directed toward their mission rather than administrative costs.
User feedback highlights the museum's charm and the passion of its volunteers. One reviewer described it as a "great little museum," emphasizing the warmth and dedication that characterize the visitor experience. This suggests that the museum's appeal lies not just in its size but in the personal touch provided by its staff and volunteers.
However, there is a noted limitation in fundraising efficiency, with a cost of $0.002 per dollar raised, which may indicate challenges in generating financial support. While the museum appears to be financially stable, enhancing fundraising efforts could further bolster its capacity to sustain and expand its programs in the future.
This AI summary has been generated from information found on Charity Navigator and Great Nonprofits.
Is Illinois Railway Museum Inc legitimate?
Illinois Railway Museum Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Illinois Railway Museum 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:
Executive Compensation: $60,480
Professional Fundraising Fees: $0
Other Salaries and Wages: $164,555
For more financial information, click here
Official website here: www.irm.org
What is the mission statement of Illinois Railway Museum Inc?
The Illinois Railway Museum Inc's mission is centered around educating the public about the rich history of railroads and railways in the United States. They achieve this by gathering, preserving, and restoring various forms of rolling stock, artifacts, structures, and transportation equipment. These items are then displayed for public viewing. The museum also operates restored rolling stock and equipment on a demonstration rail line, providing a hands-on experience. Additionally, they maintain a reference library filled with publications, technical information, and other materials related to railroads, railways, and transportation for research purposes.
Official website here: www.irm.org
Who is the CEO of Illinois Railway Museum Inc?
Lawrence Stone is the President of Illinois Railway Museum Inc.
Official website here: www.irm.org
What is the revenue of Illinois Railway Museum Inc?
Illinois Railway Museum Inc's revenue in 2022 was $2,964,518.
Official website here: www.irm.org
Who are the executives of Illinois Railway Museum Inc and what are their salaries?
The average compensation at Illinois Railway Museum Inc during 2022 was $5,626. There are 40 employees and 320 volunteers at Illinois Railway Museum Inc.
Here are 10 key members and their salaries:
- Compensation: $60,480
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Official website here: www.irm.org
Where can I find the form 990 for Illinois Railway Museum Inc?
Illinois Railway Museum Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.irm.org
Learn more at the official website: www.irm.org
Mission Statement of Illinois Railway Museum Inc
Illinois Railway Museum Inc is committed to educating the public about the rich history of railroads and railways in the United States. To achieve this mission, the museum collects, preserves, and restores various rolling stock, artifacts, structures, and transportation equipment. These items are then displayed to the public, providing an engaging and informative experience.
The museum doesn't just stop at exhibition. It also operates restored rolling stock and equipment on a demonstration rail line, allowing visitors to witness firsthand the operation of these historical vehicles. This hands-on approach to learning adds a unique and captivating element to the museum's educational mission.
In addition to its physical exhibits, Illinois Railway Museum Inc maintains a reference library filled with publications, technical information, and other materials related to railroads, railways, and transportation. This library serves as a valuable resource for researchers and enthusiasts alike, expanding the reach of the museum's educational mission beyond its physical location. By collecting, preserving, and disseminating this knowledge, the museum plays a vital role in ensuring that the story of railroads and railways is not lost to time.
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Impact
October, 2024
Illinois Railway Museum Inc significantly enhances public understanding of the nation's railroad history through its diverse activities and educational initiatives. By collecting, preserving, and restoring a wide array of railroad equipment and memorabilia, the museum provides a tangible connection to the past, illustrating the pivotal role railroads played in the country’s development.
With a commitment to education, the museum opens its doors to approximately 66,000 visitors annually, allowing them to engage with interactive exhibits and demonstrations. This offers a unique opportunity for attendees to experience the operation of restored rolling stock, including electric cars, diesel engines, and steam locomotives. The hands-on approach not only enriches historical knowledge but also fosters a deeper appreciation for the technological advancements and innovations that railroads introduced.
Additionally, by maintaining a reference library filled with publications and technical information, the museum supports research efforts while preserving critical aspects of railway history. The tangible experience of seeing and riding historic vehicles, combined with educational resources, empowers visitors to gain insights into the transformative impact of rail transport on American society. Overall, the Illinois Railway Museum Inc plays an essential role in preserving a vital part of the nation’s heritage and encouraging community involvement in historical appreciation and understanding.
This information is meant to be a general summary of Illinois Railway Museum 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.
- Investment Income: $101,985
- Program Service Revenue: $1,298,761
- Gross Receipts: $6,996,256
Assets and Liabilities:
- Total Assets: $16,575,964
- Total Liabilities: $435,791
- Net Assets: $16,140,173
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SPECIAL TRAIN EVENTS
Revenue
$937,892
ADMISSIONS
Revenue
$355,480
PULLMAN DRAWING FEES
Revenue
$4,676
TRACK RENTAL FEES
Revenue
$713
Organization Details
Founding Year
1954
Phone
(815) 923-4391Principal Officer
Lawrence Stone
Main Address
PO BOX 427, UNION, IL, 60180
Website
www.irm.orgNTEE Category
Code: A500 - Arts
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