Overview
What is Port Rail Inc?
Port Rail Inc, with its headquarters in Lake Charles, Louisiana, is a nonprofit organization dedicated to facilitating economic development in the region. The corporation operates a rail line and provides rail services, including car switching, to alleviate rail congestion and reduce the burden on local government within Calcasieu Parish. With a mission to better utilize the area's rail resources, Port Rail Inc aims to help individual communities reach their commercial potential. The organization employs a team of seven individuals and has a purpose to connect the Union Pacific Railroad Company Harbor Yard in Lake Charles to the Lake Charles Harbor Terminal District's City Docks and Industrial Canal, as well as other connecting rail lines and facilities in Calcasieu Parish.
Official website here: www.portraillc.com
Is Port Rail Inc legitimate?
Port Rail Inc is a legitimate nonprofit organization registered as a 501(c)(4) entity. Port Rail 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: $151,895
Professional Fundraising Fees: $0
Other Salaries and Wages: $413,610
For more financial information, click here
Official website here: www.portraillc.com
What is the mission statement of Port Rail Inc?
Port Rail Inc's mission is centered around promoting economic development in a specific region. The corporation aims to acquire, own, maintain, utilize, and operate a rail line, along with connecting rail lines and facilities, to facilitate this goal. The primary focus is on a 15-mile stretch between the Union Pacific Railroad Company Harbor Yard and the Lake Charles Harbor Terminal District's City Docks and Industrial Canal, all located in Calcasieu Parish. This initiative is intended to stimulate economic growth within the region.
Official website here: www.portraillc.com
Who is the CEO of Port Rail Inc?
Derek Midkiff is the Board Member of Port Rail Inc.
Official website here: www.portraillc.com
What is the revenue of Port Rail Inc?
Port Rail Inc's revenue in 2022 was $924,409.
Official website here: www.portraillc.com
Who are the executives of Port Rail Inc and what are their salaries?
The average compensation at Port Rail Inc during 2022 was $80,786. There are 7 employees and 5 volunteers at Port Rail Inc.
Here are 6 key members and their salaries:
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- Compensation: $154,622
- Related: $0
- Other: $26,494
Official website here: www.portraillc.com
Where can I find the form 990 for Port Rail Inc?
Port Rail Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.portraillc.com
Learn more at the official website: www.portraillc.com
Mission Statement of Port Rail Inc
Port Rail Inc, as a corporation, is committed to accomplishing several objectives. Its primary mission is to acquire, maintain, utilize, and operate a rail line of approximately 15 miles, connecting the Union Pacific Railroad Company Harbor Yard in Lake Charles to the Lake Charles Harbor Terminal District's City Docks and Industrial Canal in Unincorporated Calcasieu Parish. Additionally, it aims to manage other connecting rail lines and facilities within Calcasieu Parish. This mission is driven by a desire to promote economic development in the region. By operating this rail line, Port Rail Inc seeks to contribute to the area's economic growth, potentially fostering new businesses and opportunities.
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Impact
October, 2024
Port Rail Inc plays a crucial role in enhancing the economic development of the Lake Charles region by operating a vital rail line that connects the Union Pacific Railroad Company’s Harbor Yard to the Lake Charles Harbor Terminal District's City Docks and Industrial Canal. This approximately 15-mile stretch facilitates efficient transportation and logistics, helping local industries access essential rail services.
By providing car switching and other rail operations throughout the year, Port Rail Inc significantly alleviates rail congestion in Calcasieu Parish, reducing burdens on local government. This efficient management of rail resources not only streamlines the transportation process but also ensures that individual communities can maximize their commercial potential.
Overall, Port Rail Inc serves as a linchpin for regional economic growth, promoting connectivity and efficiency in freight movement that benefits businesses and supports local infrastructure development.
This information is meant to be a general summary of Port Rail 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: $497
- Program Service Revenue: $923,912
- Gross Receipts: $924,409
Assets and Liabilities:
- Total Assets: $2,487,297
- Total Liabilities: $2,521,859
- Net Assets: -$34,562
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SERVICE REVENUE
Revenue
$923,912
Organization Details
Founding Year
2011
Phone
(337) 493-3504Principal Officer
Derek Midkiff
Main Address
150 MARINE STREET BOX 1, LAKE CHARLES, LA, 70601
Website
www.portraillc.comNTEE Category
Code: Z99 - Unknown
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