Overview
What is Lakes Region Model Railroad Museum Inc?
Lakes Region Model Railroad Museum Inc is a nonprofit organization situated in Wolfeboro, New Hampshire, specifically at 36 Center Street. Their primary objective is to establish and manage a model railroad museum, catering to the educational and entertainment needs of the public. This museum aims to highlight the significant role of the railroad industry in the economic growth of the Lakes Region in New Hampshire. The museum will showcase a model railroad and its routes within Carroll County, providing an engaging and informative experience for visitors.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 40%, Zero-Star out of Four Star rating.
Lakes Region Model Railroad Museum Inc has received a low rating, reflecting concerns regarding its financial accountability and efficiency. The organization scored particularly poorly in its Program Expense Ratio, indicating that only a small portion of expenditures is directed towards its programs and services. While it has a strong governance structure, with a fully independent board and policies in place, these aspects do not compensate for its financial management issues.
The strengths of the organization include a wholly independent board and a comprehensive conflict of interest policy, both of which contribute to its governance integrity. Additionally, the museum effectively documents its board meeting minutes, showcasing transparency in its operations. However, given the overall financial score, it raises questions about the sustainability and impact of its programs in the community.
The significant liabilities to assets ratio, reported at 0.00%, further complicates the financial outlook of the nonprofit, suggesting a potential risk in financial operations. Overall, while the governance and accountability aspects are commendable, the financial performance and allocation of resources require substantial improvement to enhance the organization’s service delivery and community impact.
This AI summary has been generated from information found on Charity Navigator.
Is Lakes Region Model Railroad Museum Inc legitimate?
Lakes Region Model Railroad Museum Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lakes Region Model Railroad 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: $0
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Other Salaries and Wages: $0
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What is the mission statement of Lakes Region Model Railroad Museum Inc?
The Lakes Region Model Railroad Museum Inc's mission is to establish and operate a model railroad museum, serving as an educational and entertaining resource for the public. The primary focus of this museum is to highlight the significant role of the railroad industry in the economic growth of the Lakes Region in New Hampshire. The museum showcases a model railroad and its routes within Carroll County, providing visitors with a vivid depiction of this historical industry. By offering this experience, the museum aims to foster a deeper appreciation for the railroad's impact on the region's development.
Who is the CEO of Lakes Region Model Railroad Museum Inc?
John Simms is the President of Lakes Region Model Railroad Museum Inc.
What is the revenue of Lakes Region Model Railroad Museum Inc?
Lakes Region Model Railroad Museum Inc's revenue in 2022 was $30,514.
Who are the executives of Lakes Region Model Railroad Museum Inc and what are their salaries?
There 9 volunteers at Lakes Region Model Railroad Museum Inc.
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Where can I find the form 990 for Lakes Region Model Railroad Museum Inc?
Lakes Region Model Railroad Museum Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Lakes Region Model Railroad Museum Inc
Lakes Region Model Railroad Museum Inc is dedicated to showcasing the significant role of the railroad industry in the economic growth of the Lakes Region in New Hampshire. They accomplish this by establishing and operating a model railroad museum, which serves as an educational and entertaining resource for the general public. The museum showcases a model railroad and its routes within Carroll County, providing visitors with a glimpse into the railroad's historical and cultural impact on the region. By offering this unique experience, Lakes Region Model Railroad Museum Inc aims to foster a deeper appreciation for the railroad industry and its contributions to the region's development.
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Impact
August, 2024
The Lakes Region Model Railroad Museum Inc's impact lies in its mission to provide a museum that depicts the importance of the railroad industry to the economic development of the Lakes Region of New Hampshire. By creating and operating a model railroad museum for the education and enjoyment of the general public, the museum plays a vital role in preserving and showcasing the history and significance of railroads in Carroll County, New Hampshire. Through its displays and exhibits, the museum helps visitors gain a deeper understanding and appreciation for the role that railroads have played in shaping the region's economic growth and development.
This information is meant to be a general summary of Lakes Region Model Railroad 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.
- Gross Receipts: $30,514
Assets and Liabilities:
- Total Assets: $370,202
- Total Liabilities: $0
- Net Assets: $370,202
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Organization Details
Founding Year
2017
Phone
(603) 569-2282Principal Officer
John Simms
Main Address
36 CENTER STREET, WOLFEBORO, NH, 03894
NTEE Category
Code: A50 - Arts
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