Civic Intelligence

Port Rail Inc

990 • Fiscal year 2019 • EIN 45-3656118

Jan 01, 2019 to Dec 31, 2019 • Filed on Nov 09, 2020

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

98th percentile

1.75x

Higher debt load relative to assets than 98% of similar nonprofits.

2019 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

77th percentile

0.69x

Higher debt load relative to revenue than 77% of similar nonprofits.

2019 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2019

Net Margin

69th percentile

20%

Higher net margin than 69% of similar nonprofits.

2019 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

89th percentile

$163,121

Higher top officer pay than 89% of similar nonprofits.

Top officer pay equals 8.6% of source-year revenue.

2019 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2019

Asset Growth

98th percentile

275%

Faster asset growth than 98% of similar nonprofits.

2019 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

82nd percentile

25%

Faster revenue growth than 82% of similar nonprofits.

2019 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Assets

Up

$743,448

Up $545,358 (+275%) from 2018

Net Assets

Up

-$555,771

Up $378,670 (+41%) from 2018

Liabilities

Up

$1,299,219

Up $166,688 (+15%) from 2018

Revenue

Up

$1,895,719

Up $376,577 (+25%) from 2018

Expenses

Up

$1,517,049

Up $287,785 (+23%) from 2018

Net Income

Up

$378,670

Up $88,792 (+31%) from 2018

Historical Trend

Balance Sheet Trend

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

2019

Assets$743,448
Liabilities$1,299,219
Net Assets-$555,771

Operations Trend

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

2019

Revenue$1,895,719
Expenses$1,517,049
Net Income$378,670
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 9, 2020
Return Version
2019v5.1
Gross Receipts
$1,895,719
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$99,764$345,580▲ $245,816
Accounts Receivable$57,903$313,326▲ $255,423
Prepaid Expenses and Deferred Charges$33,586$40,104▲ $6,518
Land, Buildings, and Equipment, Net$6,837$8,885▲ $2,048
Total Assets$198,090$743,448▲ $545,358
Other Assets Total-$35,553-
Liabilities
Unsecured Notes Loans Payable$1,107,387$1,249,528▲ $142,141
Accounts Payable and Accrued Expenses$25,144$49,691▲ $24,547
Total Liabilities$1,132,531$1,299,219▲ $166,688
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-934,441$-555,771▲ $378,670
Total Net Assets Fund Balance$-934,441$-555,771▲ $378,670
Total Liabilities and Net Assets / Fund Balance$198,090$743,448▲ $545,358

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$8,885$21,539$30,424
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Derek MidkiffExecutive DirectorFT$140,536$22,585$163,121

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
$1,895,681
Investment Income
$38
Other Revenue
$0
Change in Net Assets
$378,670

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,895,719
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$1,895,719
Total Revenue per Form 990
$1,895,719
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$864,849
Other Expenses$652,200
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$376,453$225,124-$601,577
Insurance$154,759$2,496-$157,255
Other Employee Benefits$92,209$31,413-$123,622
Payroll Taxes$78,201$41,475-$119,676
Fees for Services Accounting-$47,400-$47,400
Interest-$26,045-$26,045
Pension Plan Contributions-$19,974-$19,974
Office Expenses$10,925$3,953-$14,878
Other Expenses$38,141$9,901-$9,901
Fees for Services Management-$9,047-$9,047
All Other Expenses$3,734$3,622-$7,356
Depreciation Depletion-$5,128-$5,128
Fees for Services Other-$4,892-$4,892
Advertising-$1,367-$1,367
Total Functional Expenses$1,085,188$431,861$0$1,517,049

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,517,050
Total Expenses per Audited Statements$1,517,050
Total Expenses per Form 990$1,517,050
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 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
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
2020-11-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Derek Midkiff
Formed
2011
Legal Domicile
La
Voting Board Members
6
Independent Board Members
6
Employees
11
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
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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/ActivityOrMissionDesc0THE 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.
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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/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt05751
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt016834
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0DEREK MIDKIFF
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0EXECUTIVE DIRECTOR
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt00
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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
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IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
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IRS990/TotalEmployeeCnt011
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0431861
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01085188
IRS990/TotalFunctionalExpensesGrp/TotalAmt01517049
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01132531
IRS990/TotalLiabilitiesEOYAmt01299219
IRS990/TotalLiabilitiesGrp/BOYAmt01132531
IRS990/TotalLiabilitiesGrp/EOYAmt01299219
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-934441
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-555771
IRS990/TotalOtherCompensationAmt022585
IRS990/TotalProgramServiceExpensesAmt01085188
IRS990/TotalProgramServiceRevenueAmt01895681
IRS990/TotalReportableCompFromOrgAmt0140536
IRS990/TotalRevenueGrp/ExclusionAmt038
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01895681
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01895719
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt05
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0198090
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0743448
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt01107387
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt01249528
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01611 W SALLIER ST
IRS990/USAddress/CityNm0LAKE CHARLES
IRS990/USAddress/StateAbbreviationCd0LA
IRS990/USAddress/ZIPCd070601
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0WWW.PORTRAILLC.COM
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02021-04-22 16:20:28Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0DEREK MIDKIFF
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum03374933504
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-11-09
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/AtSubmissionCreationDeviceId006A94ACE466DB6D9D60A10B1E4A765C0F42F98B1
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId006A94ACE466DB6D9D60A10B1E4A765C0F42F98B1
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt038.122.120.34
ReturnHeader/FilingSecurityInformation/IPDt02020-11-09
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ES
ReturnHeader/FilingSecurityInformation/IPTm008:54:33
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/PreparationDt02020-11-06
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0RICHARD I FARLEY
ReturnHeader/ReturnTs02020-11-11T08:43:34-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-01-01
ReturnHeader/TaxPeriodEndDt02019-12-31
ReturnHeader/TaxYr02019

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