Overview
What is Western Maryland Scenic Railroad Development Corporation?
Western Maryland Scenic Railroad Development Corporation is a nonprofit organization situated in Western Maryland. Its primary mission is to boost tourism by overseeing and operating a scenic railway. This railroad serves as a captivating attraction, showcasing the region's natural beauty and inspiring visitors to discover Cumberland, MD. The organization's programs are designed to highlight the area's charm, thereby promoting exploration and fostering a sense of connection with the locale.
Official website here: www.wmsr.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement
The Western Maryland Scenic Railroad Development Corporation has received a two-star rating from Charity Navigator, with an overall score of 73%. This rating indicates that while the organization meets some standards of accountability and finance, there are notable deficiencies, particularly in transparency regarding its financial statements and governance policies, such as the absence of a whistleblower and document retention policies.
Strengths of the organization include a fully independent board and strong financial management, demonstrated by a healthy liabilities to assets ratio and a high program expense ratio. The organization is committed to utilizing a significant portion of its resources for its programs, which reflects positively on its operational focus. Furthermore, all board members are independent, which can enhance the decision-making process and reduce potential conflicts of interest.
However, the lack of financial statements and essential governance policies detracts from its overall accountability, making it challenging for stakeholders to fully assess the organization's financial health and operational integrity. Addressing these shortcomings could improve transparency and bolster public trust in the nonprofit's mission and activities.
This AI summary has been generated from information found on Charity Navigator.
Is Western Maryland Scenic Railroad Development Corporation legitimate?
Western Maryland Scenic Railroad Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Western Maryland Scenic Railroad Development Corporation 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: $86,621
Professional Fundraising Fees: $0
Other Salaries and Wages: $627,526
For more financial information, click here
Official website here: www.wmsr.com
What is the mission statement of Western Maryland Scenic Railroad Development Corporation?
The Western Maryland Scenic Railroad Development Corporation's mission is centered around promoting tourism. They accomplish this by managing and operating a scenic railroad within the region. The primary objective of these programs is to highlight the area's natural beauty, thereby encouraging visitors to explore and experience various attractions, specifically in Cumberland, MD.
Official website here: www.wmsr.com
Who is the CEO of Western Maryland Scenic Railroad Development Corporation?
Mike Mckay is the Director of Western Maryland Scenic Railroad Development Corporation.
Official website here: www.wmsr.com
What is the revenue of Western Maryland Scenic Railroad Development Corporation?
Western Maryland Scenic Railroad Development Corporation's revenue in 2022 was $3,934,218.
Official website here: www.wmsr.com
Who are the executives of Western Maryland Scenic Railroad Development Corporation and what are their salaries?
The average compensation at Western Maryland Scenic Railroad Development Corporation during 2022 was $22,317. There are 32 employees and 5 volunteers at Western Maryland Scenic Railroad Development Corporation.
Here are 10 key members and their salaries:
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Official website here: www.wmsr.com
Where can I find the form 990 for Western Maryland Scenic Railroad Development Corporation?
Western Maryland Scenic Railroad Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.wmsr.com
Learn more at the official website: www.wmsr.com
Mission Statement of Western Maryland Scenic Railroad Development Corporation
The Western Maryland Scenic Railroad Development Corporation, in its mission, aims to foster tourism. It accomplishes this by overseeing and operating a scenic railroad within Western Maryland. The organization's objectives revolve around showcasing the region's natural beauty, thereby attracting visitors to explore Cumberland, MD. Through its programs, the Western Maryland Scenic Railroad Development Corporation encourages tourists to delve deeper into the area, potentially discovering hidden gems and enhancing their overall travel experience.
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Impact
July, 2024
The Western Maryland Scenic Railroad Development Corporation has significantly contributed to the promotion of tourism in Cumberland, MD. By managing and operating a scenic railroad in the region, the organization plays a key role in showcasing the natural beauty of Western Maryland and attracting visitors to explore the area. Through its programs and initiatives, the corporation helps boost the local economy and enrich the cultural experience for tourists and residents alike. Its efforts have not only enhanced the regional tourism industry but also fostered a greater appreciation for the historical and scenic offerings of Cumberland, MD.
This information is meant to be a general summary of Western Maryland Scenic Railroad Development Corporation. 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: $28
- Program Service Revenue: $3,209,323
- Gross Receipts: $4,265,152
Assets and Liabilities:
- Total Assets: $4,593,263
- Total Liabilities: $1,417,283
- Net Assets: $3,175,980
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Train Ticket Sales
Revenue
$3,209,323
Organization Details
Founding Year
1896
Principal Officer
Mike Mckay
Main Address
217 Glenn Street Suite 200, Cumberland, MD, 21502
Website
www.wmsr.comNTEE Category
Code: W40Z - Public benefit
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