Civic Intelligence

Midwest Central Railroad

990 • Fiscal year 2021 • EIN 23-7002864

Jan 01, 2021 to Dec 31, 2021 • Filed on Nov 14, 2022

Organization ProfileWWW.MCRR.ORG
PO Box 102MT Pleasant, IA 52641

(319) 385-2912

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

54th percentile

0.09x

Higher debt load relative to assets than 54% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

69th percentile

0.25x

Higher debt load relative to revenue than 69% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

83rd percentile

43%

Higher net margin than 83% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

68th percentile

21%

Faster asset growth than 68% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

97th percentile

486%

Faster revenue growth than 97% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets54th percentile

Assets

Up

$1,853,525

Up $317,275 (+21%) from 2020

Net Assets

Up

$1,689,655

Up $282,042 (+20%) from 2020

Liabilities

Up

$163,870

Up $35,233 (+27%) from 2020

Revenue And Expenses
Liabilities / Revenue69th percentileNet Margin83rd percentile

Revenue

Up

$651,350

Up $540,132 (+486%) from 2020

Expenses

Up

$369,308

Up $204,746 (+124%) from 2020

Net Income

Up

$282,042

Up $335,386 (+629%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth68th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$2.0M$1.5M$1.0M$500K$0Assets 2010: $929,169Liabilities 2010: $65,988Net Assets 2010: $863,1812010Assets 2011: $1,043,419Liabilities 2011: $53,299Net Assets 2011: $990,1202011Assets 2012: $1,121,985Liabilities 2012: $41,692Net Assets 2012: $1,080,2932012Assets 2013: $1,203,303Liabilities 2013: $36,133Net Assets 2013: $1,167,1702013Assets 2014: $1,288,530Liabilities 2014: $22,523Net Assets 2014: $1,266,0072014Assets 2015: $1,339,029Liabilities 2015: $3,606Net Assets 2015: $1,335,4232015Assets 2016: $1,340,097Liabilities 2016: $4,068Net Assets 2016: $1,336,0292016Assets 2017: $1,635,643Liabilities 2017: $160,987Net Assets 2017: $1,474,6562017Assets 2018: $1,645,479Liabilities 2018: $145,963Net Assets 2018: $1,499,5162018Assets 2019: $1,599,341Liabilities 2019: $138,384Net Assets 2019: $1,460,9572019Assets 2020: $1,536,250Liabilities 2020: $128,637Net Assets 2020: $1,407,6132020Assets 2021: $1,853,525Liabilities 2021: $163,870Net Assets 2021: $1,689,6552021Assets 2022: $1,842,352Liabilities 2022: $179,903Net Assets 2022: $1,662,4492022Assets 2023: $1,786,018Liabilities 2023: $153,326Net Assets 2023: $1,632,6922023Assets 2024: $1,787,633Liabilities 2024: $141,142Net Assets 2024: $1,646,4912024

Highlighted filing

2021

Assets$1,853,525
Liabilities$163,870
Net Assets$1,689,655
Open 2021 Filing

Operations Trend

Revenue Growth97th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$800K$600K$400K$200K$0-$200KExpenses 2010: $133,4922010Expenses 2011: $129,8482011Expenses 2012: $171,5542012Revenue 2013: $249,860Expenses 2013: $162,983Net Income 2013: $86,8772013Revenue 2014: $294,174Expenses 2014: $195,337Net Income 2014: $98,8372014Revenue 2015: $322,788Expenses 2015: $253,372Net Income 2015: $69,4162015Revenue 2016: $286,542Expenses 2016: $285,936Net Income 2016: $6062016Revenue 2017: $413,957Expenses 2017: $275,330Net Income 2017: $138,6272017Revenue 2018: $367,317Expenses 2018: $342,457Net Income 2018: $24,8602018Revenue 2019: $311,248Expenses 2019: $349,807Net Income 2019: -$38,5592019Revenue 2020: $111,218Expenses 2020: $164,562Net Income 2020: -$53,3442020Revenue 2021: $651,350Expenses 2021: $369,308Net Income 2021: $282,0422021Revenue 2022: $418,137Expenses 2022: $428,599Net Income 2022: -$10,4622022Revenue 2023: $405,303Expenses 2023: $462,084Net Income 2023: -$56,7812023Revenue 2024: $477,693Expenses 2024: $478,567Net Income 2024: -$8742024

Highlighted filing

2021

Revenue$651,350
Expenses$369,308
Net Income$282,042
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Nov 14, 2022
Return Version
2021v4.0
Gross Receipts
$676,336
Mission and Program Overview

Mission

Our mission is to preserve and commemorate railway heritage for the educational benefit and enjoyment for current and future generations.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,097,129$1,145,462▲ $48,333
Savings and Temporary Cash Investments$377,536$430,165▲ $52,629
Cash and Non-Interest-Bearing Accounts$52,784$270,579▲ $217,795
Accounts Receivable-$4,622-
Inventories for Sale or Use$8,801$2,697▼ $6,104
Total Assets$1,536,250$1,853,525▲ $317,275
Liabilities
Unsecured Notes Loans Payable$126,958$159,461▲ $32,503
Accounts Payable and Accrued Expenses$1,679$4,409▲ $2,730
Total Liabilities$128,637$163,870▲ $35,233
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,312,624$1,593,258▲ $280,634
Net Assets With Donor Restrictions$94,989$96,397▲ $1,408
Total Net Assets Fund Balance$1,407,613$1,689,655▲ $282,042
Total Liabilities and Net Assets / Fund Balance$1,536,250$1,853,525▲ $317,275

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$557,587$327,216$884,803
Buildings$587,875$200,141$788,016
Compensation and Service Providers
Top Officer Pay39th percentile

Board Members and Trustees

NameTitle
Dave OsierPresident
Christopher PachaDirector
Dylan DuncanDirector
John KorschotDirector
Scott WatsonDirector
Dan HagistSecretary
Jerry CrouchTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$283,728
Program Service Revenue
$330,082
Investment Income
$16,970
Other Revenue
$20,570
All Other Contributions
$105,059
Change in Net Assets
$282,042

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Real Estate Commercial2$88,788Fair Value
Total Noncash Contributions2$88,788-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$303,021
Salaries, Compensation, and Employee Benefits$39,292
Grants and Similar Amounts Paid$26,995
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$53,011--$53,011
Current Officers, Directors, Trustees, and Key Employees$29,200$7,300-$36,500
Grants to Domestic Orgs$26,995--$26,995
Insurance$25,718$1,136-$26,854
Occupancy$23,313--$23,313
All Other Expenses$19,190--$19,190
Interest$5,228--$5,228
Other Expenses$4,610--$4,610
Advertising$4,464--$4,464
Office Expenses$4,212--$4,212
Fees for Services Accounting-$2,825-$2,825
Payroll Taxes$2,234$558-$2,792
Travel$846--$846
Conferences and Meetings$344--$344
Total Functional Expenses$357,489$11,819$0$369,308
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Midwest Old Settlers & ThreshersMt Pleasant, IA501c3Mission Advancement-
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 6

“Membership is open to anyone and everyone who has an interest in promoting the history of steam locomotives. Basic membership is as little as 10 annually. All volunteers are encouraged to be members of the organization.”

Form 990, Page 6, Part VI, Line 7A

“The appointed nominating committee, comprised of two board members not up for election and one non-board member who is a voting member, nominate eligible voting members to run for the board of directors. The voting membership vote upon the nominees.”

Form 990, Page 6, Part VI, Line 11B

“The form 990 was reviewed by members of the governing body before it was filed.”

Form 990, Page 6, Part VI, Line 12C

“The board has not formally adopted a conflict of interest policy. They have discussed the idea as a board in the past. If such conflict does occur,the involved board member informs the board of the identified conflict. At which time the board meets in closed session to discuss the conflict and determines how the board member should proceed in addressing the conflict.”

Form 990, Page 6, Part VI, Line 15A

“The board determines the rate of pay by considering compensation paid to employees performing similar tasks at other organizations in the area. This rate of pay is voted on by the board, which is documented in the meeting minutes.”

Form 990, Page 6, Part VI, Line 19

“The organizations governing documents, policies and financial statements are made available to the public upon request”

Filing and Contact Details

Filer

Filer Name
Midwest Central Railroad
EIN
23-7002864
Phone
3193852912
Address
PO BOX 102, MT PLEASANT, IA 52641

Signing Officer

Name
Matthew D Crull
Title
CEO
Phone
3198501822
Signed
2022-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Matthew D Crull
Formed
1960
Legal Domicile
Ia
Voting Board Members
7
Independent Board Members
7
Employees
1
Volunteers
180

Preparer

Firm
Tdt Cpas and Advisors Pc
Address
2109 WEST JEFFERSON AVENUE, FAIRFIELD, IA 52556
Preparer
Jodi R Kerr CPA
Phone
6414726171
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IRS990ScheduleD/TotalBookValueLandBuildingsAmt01145462
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IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt026995
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IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0MISSION ADVANCEMENT
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0MIDWEST OLD SETTLERS & THRESHERS
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IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0405 E THRESHERS RD
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IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0DURING THE YEAR END DECEMBER 31, 2021, THE ORGANIZATION COLLABORATED WITH MIDWEST OLD THRESHERS AND SETTLERS TO REORGANIZE SEVERAL PARCELS OF LAND BETWEEN THE TWO 501C3 ORGANIZATIONS. BOTH ORGANIZATION'S BOARD COLLABORATED ON THE GRANTS AND RECEIPTS OF LAND, NOTING THE LAND TRANSFERS WOULD FURTHER EACH ORGANIZATION'S MISSIONS. THE ORGANIZATION HAD NO OTHER GRANTS.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE I, PAGE 1, PART I, LINE 2
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IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0MEMBERSHIP IS OPEN TO ANYONE AND EVERYONE WHO HAS AN INTEREST IN PROMOTING THE HISTORY OF STEAM LOCOMOTIVES. BASIC MEMBERSHIP IS AS LITTLE AS 10 ANNUALLY. ALL VOLUNTEERS ARE ENCOURAGED TO BE MEMBERS OF THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE APPOINTED NOMINATING COMMITTEE, COMPRISED OF TWO BOARD MEMBERS NOT UP FOR ELECTION AND ONE NON-BOARD MEMBER WHO IS A VOTING MEMBER, NOMINATE ELIGIBLE VOTING MEMBERS TO RUN FOR THE BOARD OF DIRECTORS. THE VOTING MEMBERSHIP VOTE UPON THE NOMINEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE FORM 990 WAS REVIEWED BY MEMBERS OF THE GOVERNING BODY BEFORE IT WAS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE BOARD HAS NOT FORMALLY ADOPTED A CONFLICT OF INTEREST POLICY. THEY HAVE DISCUSSED THE IDEA AS A BOARD IN THE PAST. IF SUCH CONFLICT DOES OCCUR,THE INVOLVED BOARD MEMBER INFORMS THE BOARD OF THE IDENTIFIED CONFLICT. AT WHICH TIME THE BOARD MEETS IN CLOSED SESSION TO DISCUSS THE CONFLICT AND DETERMINES HOW THE BOARD MEMBER SHOULD PROCEED IN ADDRESSING THE CONFLICT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE BOARD DETERMINES THE RATE OF PAY BY CONSIDERING COMPENSATION PAID TO EMPLOYEES PERFORMING SIMILAR TASKS AT OTHER ORGANIZATIONS IN THE AREA. THIS RATE OF PAY IS VOTED ON BY THE BOARD, WHICH IS DOCUMENTED IN THE MEETING MINUTES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE ORGANIZATIONS GOVERNING DOCUMENTS, POLICIES AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 7A
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalLiabilitiesGrp/EOYAmt0163870
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Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,853,525
Liabilities
$163,870
Net assets
$1,689,655
Revenue
$651,350
Expenses
$369,308
Net income
$282,042
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.79$0.14$1.65$0.48$0.48$0.00
2023Detailed filing. Detailed filing data is available for this year.$1.79$0.15$1.63$0.41$0.46$0.06
2022Detailed filing. Detailed filing data is available for this year.$1.84$0.18$1.66$0.42$0.43$0.01
2021Detailed filing. Detailed filing data is available for this year.$1.85$0.16$1.69$0.65$0.37$0.28
2020Detailed filing. Detailed filing data is available for this year.$1.54$0.13$1.41$0.11$0.16$0.05
2019Detailed filing. Detailed filing data is available for this year.$1.60$0.14$1.46$0.31$0.35$0.04
2018Detailed filing. Detailed filing data is available for this year.$1.65$0.15$1.50$0.37$0.34$0.02
2017Detailed filing. Detailed filing data is available for this year.$1.64$0.16$1.47$0.41$0.28$0.14
2016Detailed filing. Detailed filing data is available for this year.$1.34$0.00$1.34$0.29$0.29$0.00
2015Detailed filing. Detailed filing data is available for this year.$1.34$0.00$1.34$0.32$0.25$0.07
2014Detailed filing. Detailed filing data is available for this year.$1.29$0.02$1.27$0.29$0.20$0.10
2013Detailed filing. Detailed filing data is available for this year.$1.20$0.04$1.17$0.25$0.16$0.09
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.12$0.04$1.08$0.17
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.04$0.05$0.99$0.13
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.93$0.07$0.86$0.13
Peer Organizations

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