Civic Intelligence

Midwest Central Railroad

990 • Fiscal year 2023 • EIN 23-7002864

Jan 01, 2023 to Dec 31, 2023 • Filed on May 14, 2024

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.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

76th percentile

0.38x

Higher debt load relative to revenue than 76% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

20th percentile

-14%

Higher net margin than 20% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

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.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

26th percentile

-3.1%

Faster asset growth than 26% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

33rd percentile

-3.1%

Faster revenue growth than 33% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets54th percentile

Assets

Down

$1,786,018

Down $56,334 (-3.1%) from 2022

Net Assets

Down

$1,632,692

Down $29,757 (-1.8%) from 2022

Liabilities

Down

$153,326

Down $26,577 (-15%) from 2022

Revenue And Expenses
Liabilities / Revenue76th percentileNet Margin20th percentile

Revenue

Down

$405,303

Down $12,834 (-3.1%) from 2022

Expenses

Up

$462,084

Up $33,485 (+7.8%) from 2022

Net Income

Down

-$56,781

Down $46,319 (-443%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth26th 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

2023

Assets$1,786,018
Liabilities$153,326
Net Assets$1,632,692
Open 2023 Filing

Operations Trend

Revenue Growth33rd 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

2023

Revenue$405,303
Expenses$462,084
Net Income-$56,781
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
May 14, 2024
Return Version
2023v5.0
Gross Receipts
$442,286
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
Rtn Earn Endowment Incm Other Fnds$1,191,740--
Land, Buildings, and Equipment, Net$1,116,319$1,109,122▼ $7,197
Cash and Non-Interest-Bearing Accounts$461,201$437,443▼ $23,758
Savings and Temporary Cash Investments$241,739$203,781▼ $37,958
Inventories for Sale or Use$23,093$35,672▲ $12,579
Total Assets$1,842,352$1,786,018▼ $56,334
Liabilities
Unsecured Notes Loans Payable$161,958$134,956▼ $27,002
Accounts Payable and Accrued Expenses$17,945$18,370▲ $425
Total Liabilities$179,903$153,326▼ $26,577
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,662,449$1,632,692▼ $29,757
Total Liabilities and Net Assets / Fund Balance$1,842,352$1,786,018▼ $56,334

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$532,576$377,986$910,562
Buildings$576,546$211,470$788,016
Compensation and Service Providers
Top Officer Pay39th percentile

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$3,636
Program Service Revenue
$389,243
Investment Income
$5,614
Other Revenue
$6,810
All Other Contributions
$1,731
Change in Net Assets
$-56,781
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$419,031
Salaries, Compensation, and Employee Benefits$43,053
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
All Other Expenses$117,225--$117,225
Occupancy$47,362--$47,362
Current Officers, Directors, Trustees, and Key Employees$31,852$7,963-$39,815
Depreciation Depletion$32,956--$32,956
Insurance$28,214$1,485-$29,699
Office Expenses$21,757--$21,757
Other Expenses$10,754$9,000-$10,754
Interest$6,242--$6,242
Advertising$5,980--$5,980
Fees for Services Accounting$3,740--$3,740
Payroll Taxes$2,590$648-$3,238
Conferences and Meetings$380--$380
Travel$193--$193
Total Functional Expenses$442,988$19,096$0$462,084
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
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

Part VI, Line 6 - Classes of Members or Stockholders

“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.”

Part VI, Line 7A - Election of Members and Their Rights

“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.”

PART VI, LINE 11B - ORGANIZATION'S PROCESS TO REVIEW FORM 990

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

Part VI, Line 12 C - Enforcement of Conflicts Policy

“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.”

Part VI, Line 15A - Compensation Process for Top Official

“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”

Part VI, Line 19 - Governing Documents Disclosure Explanation

“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
Doing Business As
Midwest Central Railroad

Signing Officer

Name
Matthew D Crull
Title
CEO
Phone
3193852912
Signed
2024-05-14
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
H and R Block
Address
301 W WASHINGTON, MOUNT PLEASANT, IA 52641
Preparer
Rebecca Morey
Phone
3193852454
Supplemental Narrative

Additional Explanations

Part V - Tax Compliance

“2 independent contractors received 1099-nec forms”

Part XI - Reconcilation of Assets

“Correction for assets not accounted for in prior years”

Raw XML AppendixShowing 400 of 419 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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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 BOARD 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/ExplanationTxt62 INDEPENDENT CONTRACTORS RECEIVED 1099-NEC FORMS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7CORRECTION FOR ASSETS NOT ACCOUNTED FOR IN PRIOR YEARS
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0PART VI, LINE 6 - CLASSES OF MEMBERS OR STOCKHOLDERS
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1PART VI, LINE 7A - ELECTION OF MEMBERS AND THEIR RIGHTS
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2PART VI, LINE 11B - ORGANIZATION'S PROCESS TO REVIEW FORM 990
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3PART VI, LINE 12 C - ENFORCEMENT OF CONFLICTS POLICY
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4PART VI, LINE 15A - COMPENSATION PROCESS FOR TOP OFFICIAL
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5PART VI, LINE 19 - GOVERNING DOCUMENTS DISCLOSURE EXPLANATION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6PART V - TAX COMPLIANCE
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7PART XI - RECONCILATION OF ASSETS
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Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,786,018
Liabilities
$153,326
Net assets
$1,632,692
Revenue
$405,303
Expenses
$462,084
Net income
-$56,781
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