Overview
What is The Loop Trolley Company?
The Loop Trolley Company is a Missouri-based, not-for-profit organization, with its headquarters in Saint Louis. Its primary objective was to establish, fund, and operate a public streetcar system, known as the Loop Trolley Project, and provide public education about vintage trolley systems. The organization collaborated with various municipalities, entities, and organizations to achieve this goal, including the Federal Transit Administration, East-West Gateway Council of Governments, and the Loop Trolley Transportation Development District (TDD). The TDD constructed a 2.2-mile fixed rail trolley line along Delmar Boulevard and DeBaliviere Avenue, extending from Trinity Avenue to the Missouri History Museum in Forest Park. Initially, the organization provided funding of approximately $13 million to the TDD for the project. The Trolley Project started service in November 2018 and ended regular service in December 2019, due to financial constraints during the COVID-19 pandemic. In 2022, the organization began winding up its activities and transferred management and operations of trolley service activities to Bi-State Development, thereby classifying all expenses incurred in 2022 as management and general expenses.
Official website here: www.looptrolley.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: Two-Star out of Four Stars (Needs Improvement, 71%)
The Loop Trolley Company has received a two-star rating from Charity Navigator, indicating that it needs improvement. The organization scored well in areas of governance and accountability, achieving full points for having a majority independent board, listing its website on tax forms, and maintaining various policies, including conflict of interest and whistleblower policies. However, the overall financial health is a concern, particularly noted in the liabilities to assets ratio.
Strengths of the organization include its strong governance framework, as evidenced by its independent board structure and adherence to necessary policies. This reflects a commitment to transparency and ethical management. However, the significant issues arise in financial management, particularly with a low program expense ratio of 14 out of 25, which suggests a potential misalignment in resource allocation towards its programs.
Limitations are evident in the financial health assessment, particularly highlighted by the liabilities to assets ratio, which scored zero out of 15 points. This could raise concerns about the organization's sustainability and ability to fulfill its mission in the long term. Overall, while The Loop Trolley Company exhibits good governance practices, attention to financial stability and program funding is necessary for improvement.
This AI summary has been generated from information found on Charity Navigator.
Is The Loop Trolley Company legitimate?
The Loop Trolley Company is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Loop Trolley Company 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: $25,787
Professional Fundraising Fees: $0
Other Salaries and Wages: $29,084
For more financial information, click here
Official website here: www.looptrolley.org
What is the mission statement of The Loop Trolley Company?
The Loop Trolley Company's mission, as outlined in its earlier operations, was to spearhead the creation, planning, funding, and implementation of a public not-for-profit trolley line or lines. The organization also took charge of public education and operation of these trolley lines. However, in 2022, the company began winding up its activities, transitioning the management and operations of trolley services to Bi-State Development.
Official website here: www.looptrolley.org
Who is the CEO of The Loop Trolley Company?
John S Meyer Jr is the President of The Loop Trolley Company.
Official website here: www.looptrolley.org
What is the revenue of The Loop Trolley Company?
The Loop Trolley Company's revenue in 2022 was $488,309.
Official website here: www.looptrolley.org
Who are the executives of The Loop Trolley Company and what are their salaries?
The average compensation at The Loop Trolley Company during 2022 was $27,436. There are 2 employees at The Loop Trolley Company.
Here are 9 key members and their salaries:
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- Compensation: $25,787
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- Other: $1,881
Official website here: www.looptrolley.org
Where can I find the form 990 for The Loop Trolley Company?
The Loop Trolley Company's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.looptrolley.org
Learn more at the official website: www.looptrolley.org
Mission Statement of The Loop Trolley Company
The Loop Trolley Company, as a public not-for-profit organization, was established with a mission to create, plan, fund, provide public education, implement, and operate a trolley line or lines. Their primary objective was to introduce a sustainable and environmentally friendly mode of transportation within the community. The organization's activities encompassed every stage of trolley line development, from conception to operation.
Initially, The Loop Trolley Company played a pivotal role in planning and securing funding for the project. They also engaged in public education initiatives to raise awareness about the trolley line and its benefits. Once the necessary resources were in place, the organization proceeded with the implementation and construction of the trolley line. Their mission was to provide a convenient, eco-friendly, and affordable transportation option for the public.
However, in 2022, The Loop Trolley Company began the process of winding up its activities in preparation for dissolution. The management and operations of the trolley service activities were subsequently assumed by Bi-State Development. Despite its eventual dissolution, The Loop Trolley Company's initial mission had a significant impact on the community, introducing a viable and popular public transportation option.
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Impact
July, 2024
The impact of The Loop Trolley Company can be seen in its efforts to create, plan, fund, provide public education, implement, and operate a public not-for-profit trolley line in the Saint Louis area. Through collaboration with various municipalities, entities, and organizations, the company successfully constructed a 2.2-mile fixed rail trolley line along Delmar Boulevard and DeBaliviere Avenue, providing an alternative transportation option for residents and visitors.
The trolley system, established by The Loop Trolley Company, aimed to promote public education regarding vintage trolley systems and enhance transportation connectivity in the region. While the trolley service faced challenges, such as disruptions due to the ongoing pandemic, its existence contributed to the local community's mobility options and historical preservation efforts.
Overall, The Loop Trolley Company's impact can be seen in its efforts to create a sustainable and accessible public transportation system, enriching the cultural and historical fabric of the Saint Louis area.
This information is meant to be a general summary of The Loop Trolley Company. 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: $2,236
- Gross Receipts: $488,309
Assets and Liabilities:
- Total Assets: $179,149
- Total Liabilities: $14,568,672
- Net Assets: -$14,389,523
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Organization Details
Founding Year
2001
Phone
(314) 454-6856Principal Officer
John S Meyer Jr
Main Address
8182 MARYLAND, SAINT LOUIS, MO, 63105
Website
www.looptrolley.orgNTEE Category
Code: W40 - Public benefit
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