Civic Intelligence

Port Rail Inc

990 • Fiscal year 2018 • EIN 45-3656118

Jan 01, 2018 to Dec 31, 2018 • Filed on Nov 14, 2019

Organization ProfileWWW.PORTRAILLC.COM

View Organization Page

150 Marine Street Box 1Lake Charles, LA 70601

(337) 493-3504

Siviq Scores

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

Liabilities / Assets

100th percentile

5.72x

Higher debt load relative to assets than 100% of similar nonprofits.

2018 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

78th percentile

0.75x

Higher debt load relative to revenue than 78% of similar nonprofits.

2018 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2018

Net Margin

70th percentile

19%

Higher net margin than 70% of similar nonprofits.

2018 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

89th percentile

$159,700

Higher top officer pay than 89% of similar nonprofits.

Top officer pay equals 10.5% of source-year revenue.

2018 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2018

Asset Growth

17th percentile

-7.1%

Faster asset growth than 17% of similar nonprofits.

2018 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

85th percentile

37%

Faster revenue growth than 85% of similar nonprofits.

2018 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets100th percentile

Assets

Down

$198,090

Down $15,117 (-7.1%) from 2017

Net Assets

Up

-$934,441

Up $289,876 (+24%) from 2017

Liabilities

Down

$1,132,531

Down $304,993 (-21%) from 2017

Revenue And Expenses
Liabilities / Revenue78th percentileNet Margin70th percentile

Revenue

Up

$1,519,142

Up $409,239 (+37%) from 2017

Expenses

Down

$1,229,264

Down $167,706 (-12%) from 2017

Net Income

Up

$289,878

Up $576,945 (+201%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth17th percentile

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

$4.0M$2.0M$0-$2.0MAssets 2013: $290,290Liabilities 2013: $341,848Net Assets 2013: -$51,5582013Assets 2014: $1Liabilities 2014: $93,899Net Assets 2014: -$93,8992014Assets 2015: $552,853Liabilities 2015: $1,209,590Net Assets 2015: -$656,7372015Assets 2016: $634,665Liabilities 2016: $1,571,915Net Assets 2016: -$937,2502016Assets 2017: $213,207Liabilities 2017: $1,437,524Net Assets 2017: -$1,224,3172017Assets 2018: $198,090Liabilities 2018: $1,132,531Net Assets 2018: -$934,4412018Assets 2019: $743,448Liabilities 2019: $1,299,219Net Assets 2019: -$555,7712019Assets 2020: $1,394,013Liabilities 2020: $915,655Net Assets 2020: $478,3582020Assets 2021: $1,704,334Liabilities 2021: $1,111,405Net Assets 2021: $592,9292021Assets 2022: $2,487,297Liabilities 2022: $2,521,859Net Assets 2022: -$34,5622022Assets 2023: $2,274,263Liabilities 2023: $2,800,309Net Assets 2023: -$526,0462023Assets 2024: $2,018,132Liabilities 2024: $2,875,801Net Assets 2024: -$857,6692024

Highlighted filing

2018

Assets$198,090
Liabilities$1,132,531
Net Assets-$934,441
Open 2018 Filing

Operations Trend

Revenue Growth85th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2013: $290,290Expenses 2013: $295,926Net Income 2013: -$5,6362013Revenue 2014: $0Expenses 2014: $42,341Net Income 2014: -$42,3412014Revenue 2015: $211,096Expenses 2015: $773,934Net Income 2015: -$562,8382015Revenue 2016: $1,183,449Expenses 2016: $1,463,962Net Income 2016: -$280,5132016Revenue 2017: $1,109,903Expenses 2017: $1,396,970Net Income 2017: -$287,0672017Revenue 2018: $1,519,142Expenses 2018: $1,229,264Net Income 2018: $289,8782018Revenue 2019: $1,895,719Expenses 2019: $1,517,049Net Income 2019: $378,6702019Revenue 2020: $2,684,973Expenses 2020: $1,650,844Net Income 2020: $1,034,1292020Revenue 2021: $1,825,645Expenses 2021: $1,711,075Net Income 2021: $114,5702021Revenue 2022: $924,409Expenses 2022: $1,551,900Net Income 2022: -$627,4912022Revenue 2023: $1,015,159Expenses 2023: $1,506,645Net Income 2023: -$491,4862023Revenue 2024: $1,280,891Expenses 2024: $1,612,514Net Income 2024: -$331,6232024

Highlighted filing

2018

Revenue$1,519,142
Expenses$1,229,264
Net Income$289,878
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Nov 14, 2019
Return Version
2018v3.1
Gross Receipts
$1,519,142
Mission and Program Overview

Mission

The purpose of the corporation shall be to aquire, own, maintain, utilize and/or operate the rail line between the union pacific railroad company harbor yard in lake charles and the lake charles harbor terminal district's city docks and industrial canal in unincorporated calcasieu parish, a distance of approximately 15 miles, as well as other connecting rail lines and rail facilities, all in calcasieu parish for the purposes of promoting economic development in the region.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$129,910$99,764▼ $30,146
Accounts Receivable$37,012$57,903▲ $20,891
Prepaid Expenses and Deferred Charges$34,799$33,586▼ $1,213
Land, Buildings, and Equipment, Net$11,486$6,837▼ $4,649
Total Assets$213,207$198,090▼ $15,117
Liabilities
Unsecured Notes Loans Payable$1,409,816$1,107,387▼ $302,429
Accounts Payable and Accrued Expenses$27,708$25,144▼ $2,564
Total Liabilities$1,437,524$1,132,531▼ $304,993
Net Assets / Fund Balance
Unrestricted Net Assets$-1,224,317$-934,441▲ $289,876
Total Net Assets Fund Balance$-1,224,317$-934,441▲ $289,876
Total Liabilities and Net Assets / Fund Balance$213,207$198,090▼ $15,117

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$6,837$16,411$23,248
Compensation and Service Providers
Top Officer Pay89th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Derek MidkiffExecutive DirectorFT$138,083$21,617$159,700

Board Members and Trustees

NameTitle
Kay C BarnettPresident
Michael G EasonDirector
Richert SelfDirector
Ben BourgeoisSecretary
Fred R GodwinTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,519,142
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$289,878

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,519,142
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$1,519,142
Total Revenue per Form 990
$1,519,142
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$864,554
Other Expenses$364,710
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$388,221$218,821-$607,042
Insurance$136,270$2,579-$138,849
Payroll Taxes$80,304$38,713-$119,017
Other Employee Benefits$86,346$30,969-$117,315
Fees for Services Accounting-$50,100-$50,100
Interest-$25,449-$25,449
Pension Plan Contributions-$21,180-$21,180
Office Expenses$13,273$5,651-$18,924
All Other Expenses$13,817$3,749-$17,566
Fees for Services Management-$7,048-$7,048
Fees for Services Other-$4,805-$4,805
Depreciation Depletion-$4,650-$4,650
Advertising-$1,439-$1,439
Other Expenses$994$363-$1,357
Total Functional Expenses$806,754$422,510$0$1,229,264

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,229,265
Total Expenses per Audited Statements$1,229,265
Total Expenses per Form 990$1,229,265
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“The form 990 is reviewed by the executive director and secretary of the organization for accuracy and completeness, then presented to the other board members before filing.”

Form 990, Part VI, Section B, Line 12C

“Each board member must adhere to the policy and notify the executive board when there is a potential breach in the policy.”

Form 990, Part VI, Section C, Line 19

“The organization's governing documents and financial statements are available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Port Rail Inc
EIN
45-3656118
Phone
3374933504
Address
150 MARINE STREET BOX 1, LAKE CHARLES, LA 70601

Signing Officer

Name
Derek Midkiff
Title
Executive Director
Phone
3374933504
Signed
2019-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Derek Midkiff
Formed
2011
Legal Domicile
La
Voting Board Members
5
Independent Board Members
5
Employees
10
Volunteers
5

Preparer

Firm
Bowers & Company Cpas Pllc
Address
120 MADISON ST - 1700 AXA TOWER II, SYRACUSE, NY 13202
Preparer
Richard I Farley
Phone
3152341100
Raw XML Appendix370 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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IRS990/Desc0ASSISTED THE LAKE CHARLES HARBOR & TERMINAL DISTRICT BY OPERATION OF A SHORT-LINE RAILROAD, CAR SWITCHING, AND OTHER NEEDED RAILS SERVICES THROUGHOUT THE YEAR. THESE SERVICES HELPED TO REDUCED THE BURDENS OF LOCAL GOVERNMENT AND ALLEVIATED RAIL CONGESTION WITHIN THE CALCASIEU PARISH AREA. THE ORGANIZATION ASPIRES TO BETTER UTILIZE RAIL RESOURCES OF CALCASIEU PARISH, SO THAT INDIVIDUAL COMMUNITIES MAY REACH THEIR COMMERCIAL POTENTIAL.
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IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0138083
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt05653
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt015964
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0DEREK MIDKIFF
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0EXECUTIVE DIRECTOR
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0159700
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt00
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FORM 990 IS REVIEWED BY THE EXECUTIVE DIRECTOR AND SECRETARY OF THE ORGANIZATION FOR ACCURACY AND COMPLETENESS, THEN PRESENTED TO THE OTHER BOARD MEMBERS BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1EACH BOARD MEMBER MUST ADHERE TO THE POLICY AND NOTIFY THE EXECUTIVE BOARD WHEN THERE IS A POTENTIAL BREACH IN THE POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION'S GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0213207
IRS990/TotalAssetsEOYAmt0198090
IRS990/TotalAssetsGrp/BOYAmt0213207
IRS990/TotalAssetsGrp/EOYAmt0198090
IRS990/TotalCompGreaterThan150KInd01
IRS990/TotalEmployeeCnt010
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0422510
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0806754
IRS990/TotalFunctionalExpensesGrp/TotalAmt01229264
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01437524
IRS990/TotalLiabilitiesEOYAmt01132531
IRS990/TotalLiabilitiesGrp/BOYAmt01437524
IRS990/TotalLiabilitiesGrp/EOYAmt01132531
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-1224317
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-934441
IRS990/TotalOtherCompensationAmt021617
IRS990/TotalProgramServiceExpensesAmt0806754
IRS990/TotalProgramServiceRevenueAmt01519142
IRS990/TotalReportableCompFromOrgAmt0138083
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01519142
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01519142
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt05
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0213207
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0198090
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-1224317
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-934441
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt01409816
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt01107387
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01611 W SALLIER ST
IRS990/USAddress/CityNm0LAKE CHARLES
IRS990/USAddress/StateAbbreviationCd0LA
IRS990/USAddress/ZIPCd070601
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0WWW.PORTRAILLC.COM
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02020-03-31 21:24:44Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0DEREK MIDKIFF
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum03374933504
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-11-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0PORT RAIL INC
ReturnHeader/Filer/BusinessNameControlTxt0PORT
ReturnHeader/Filer/EIN0453656118
ReturnHeader/Filer/PhoneNum03374933504
ReturnHeader/Filer/USAddress/AddressLine1Txt0150 MARINE STREET BOX 1
ReturnHeader/Filer/USAddress/CityNm0LAKE CHARLES
ReturnHeader/Filer/USAddress/StateAbbreviationCd0LA
ReturnHeader/Filer/USAddress/ZIPCd070601
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0CDC5273FD2EC0170F5CBBD965B6176EAD47CA3A7
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId006A94ACE466DB6D9D60A10B1E4A765C0F42F98B1
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt038.122.120.34
ReturnHeader/FilingSecurityInformation/IPDt02019-11-14
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ES
ReturnHeader/FilingSecurityInformation/IPTm010:47:01
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0201317788
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BOWERS & COMPANY CPAS PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0120 MADISON ST - 1700 AXA TOWER II
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0SYRACUSE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd013202
ReturnHeader/PreparerPersonGrp/PhoneNum03152341100
ReturnHeader/PreparerPersonGrp/PreparationDt02019-11-14
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0RICHARD I FARLEY
ReturnHeader/ReturnTs02019-11-15T14:17:22-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-01-01
ReturnHeader/TaxPeriodEndDt02018-12-31
ReturnHeader/TaxYr02018

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$198,090
Liabilities
$1,132,531
Net assets
-$934,441
Revenue
$1,519,142
Expenses
$1,229,264
Net income
$289,878
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.02$2.88$0.86$1.28$1.61$0.33
2023Detailed filing. Detailed filing data is available for this year.$2.27$2.80$0.53$1.02$1.51$0.49
2022Detailed filing. Detailed filing data is available for this year.$2.49$2.52$0.03$0.92$1.55$0.63
2021Detailed filing. Detailed filing data is available for this year.$1.70$1.11$0.59$1.83$1.71$0.11
2020Detailed filing. Detailed filing data is available for this year.$1.39$0.92$0.48$2.68$1.65$1.03
2019Detailed filing. Detailed filing data is available for this year.$0.74$1.30$0.56$1.90$1.52$0.38
2018Detailed filing. Detailed filing data is available for this year.$0.20$1.13$0.93$1.52$1.23$0.29
2017Detailed filing. Detailed filing data is available for this year.$0.21$1.44$1.22$1.11$1.40$0.29
2016Summary only. Only limited summary data is available for this year.$0.63$1.57$0.94$1.18$1.46$0.28
2015Summary only. Only limited summary data is available for this year.$0.55$1.21$0.66$0.21$0.77$0.56
2014Summary only. Only limited summary data is available for this year.$0.00$0.09$0.09$0.00$0.04$0.04
2013Summary only. Only limited summary data is available for this year.$0.29$0.34$0.05$0.29$0.30$0.01