Civic Intelligence

Lost Railway Museum

990 • Fiscal year 2020 • EIN 47-5410254

Jan 01, 2020 to Dec 31, 2020 • Filed on Feb 16, 2021

Organization ProfileWWW.LOSTRAILWAYMUSEUM.ORG
PO Box 574Grass Lake, MI 49240

(517) 522-9500

Siviq Scores

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

Liabilities / Assets

67th percentile

0.25x

Higher debt load relative to assets than 67% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

91st percentile

2.05x

Higher debt load relative to revenue than 91% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Net Margin

47th percentile

4.0%

Higher net margin than 47% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

37th percentile

$0

Higher top officer pay than 37% of similar nonprofits.

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

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Asset Growth

35th percentile

0.8%

Faster asset growth than 35% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

19th percentile

-26%

Faster revenue growth than 19% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets67th percentile

Assets

Up

$1,066,536

Up $8,660 (+0.8%) from 2019

Net Assets

Up

$801,861

Up $5,133 (+0.6%) from 2019

Liabilities

Up

$264,675

Up $3,527 (+1.4%) from 2019

Revenue And Expenses
Liabilities / Revenue91st percentileNet Margin47th percentile

Revenue

Down

$129,418

Down $44,562 (-26%) from 2019

Expenses

Down

$124,285

Down $7,295 (-5.5%) from 2019

Net Income

Down

$5,133

Down $37,267 (-88%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth35th percentile

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

$1.5M$1.0M$500K$0Assets 2015: $250Liabilities 2015: $02015Assets 2016: $529,741Liabilities 2016: $65,346Net Assets 2016: $464,3952016Assets 2017: $1,117,842Liabilities 2017: $467,757Net Assets 2017: $650,0852017Assets 2018: $1,049,527Liabilities 2018: $295,199Net Assets 2018: $754,3282018Assets 2019: $1,057,876Liabilities 2019: $261,148Net Assets 2019: $796,7282019Assets 2020: $1,066,536Liabilities 2020: $264,675Net Assets 2020: $801,8612020Assets 2021: $1,066,504Liabilities 2021: $148,344Net Assets 2021: $918,1602021Assets 2022: $1,237,813Liabilities 2022: $174,954Net Assets 2022: $1,062,8592022Assets 2023: $1,268,044Liabilities 2023: $100,845Net Assets 2023: $1,167,1992023Assets 2024: $1,261,956Liabilities 2024: $74,345Net Assets 2024: $1,187,6112024Assets 2025: $1,257,834Liabilities 2025: $29,296Net Assets 2025: $1,228,5382025

Highlighted filing

2020

Assets$1,066,536
Liabilities$264,675
Net Assets$801,861
Open 2020 Filing

Operations Trend

Revenue Growth19th percentile

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

$600K$400K$200K$0Revenue 2015: $250Expenses 2015: $0Net Income 2015: $2502015Revenue 2016: $484,638Expenses 2016: $20,493Net Income 2016: $464,1452016Revenue 2017: $265,127Expenses 2017: $79,437Net Income 2017: $185,6902017Revenue 2018: $217,907Expenses 2018: $113,664Net Income 2018: $104,2432018Revenue 2019: $173,980Expenses 2019: $131,580Net Income 2019: $42,4002019Revenue 2020: $129,418Expenses 2020: $124,285Net Income 2020: $5,1332020Revenue 2021: $223,250Expenses 2021: $106,951Net Income 2021: $116,2992021Revenue 2022: $292,513Expenses 2022: $147,814Net Income 2022: $144,6992022Revenue 2023: $288,094Expenses 2023: $183,754Net Income 2023: $104,3402023Revenue 2024: $180,870Expenses 2024: $160,458Net Income 2024: $20,4122024Revenue 2025: $223,894Expenses 2025: $182,967Net Income 2025: $40,9272025

Highlighted filing

2020

Revenue$129,418
Expenses$124,285
Net Income$5,133
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Feb 16, 2021
Return Version
2020v4.0
Gross Receipts
$130,130
Mission and Program Overview

Mission

Demonstrate the vital role railroads and interurban railway system played in the growth of grass lake area as well as michigan by displaying an actual electric interurban rail car and related artifacts.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,014,940$1,011,664▼ $3,276
Savings and Temporary Cash Investments$26,257$40,760▲ $14,503
Pledges and Grants Receivable$12,000$10,000▼ $2,000
Inventories for Sale or Use$4,679$4,112▼ $567
Total Assets$1,057,876$1,066,536▲ $8,660
Liabilities
Unsecured Notes Loans Payable$261,089$264,675▲ $3,586
Accounts Payable and Accrued Expenses$59--
Total Liabilities$261,148$264,675▲ $3,527
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$779,728$791,861▲ $12,133
Net Assets With Donor Restrictions$17,000$10,000▼ $7,000
Total Net Assets Fund Balance$796,728$801,861▲ $5,133
Total Liabilities and Net Assets / Fund Balance$1,057,876$1,066,536▲ $8,660

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$913,533$64,997$978,530
Other Land Buildings$73,131$7,875$81,006
Land$25,000-$25,000
Compensation and Service Providers
Top Officer Pay37th percentile

Board Members and Trustees

NameTitle
Phil WillisChairman
Craig GoodlockDirector
Matt MckernanDirector
Steve MakulskiSecretary
Pat WillisTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$118,636
Program Service Revenue
$9,955
Investment Income
$0
Other Revenue
$827
All Other Contributions
$107,084
Change in Net Assets
$5,133
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$124,285
Total Fundraising Expense$702
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management$40,562$13,521-$54,083
Depreciation Depletion$19,505$2,167-$21,672
Interest$9,282$1,031-$10,313
Occupancy$8,864$985-$9,849
Advertising$6,525--$6,525
Insurance$3,176$353-$3,529
Fees for Services Accounting-$1,500-$1,500
Office Expenses$522$112$112$746
Other Expenses$2,754$277$590$277
Total Functional Expenses$103,047$20,536$702$124,285
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$195
Fundraising Direct Expenses$145
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
Yes
Annual disclosure for covered persons
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 2

“Phil willis pat willis president treasurer family member”

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

“The 990 is provided to the full board prior to submission and is reviewed in depth by key board members.”

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

“Each officer signed an independence report upon joining the board and annually thereafter. All conflicts are addressed.”

Form 990, Page 6, Part VI, Line 19

“Governing documents made available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Lost Railway Museum
EIN
47-5410254
Phone
5175229500
Address
PO BOX 574, GRASS LAKE, MI 49240

Signing Officer

Name
Phil Willis
Title
Chairman
Phone
5177888660
Signed
2021-02-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Phil Willis
Formed
2015
Legal Domicile
Mi
Voting Board Members
7
Independent Board Members
4
Employees
0
Volunteers
75

Preparer

Firm
Willis & Jurasek Pc Cpas
Address
4100 SPRING ARBOR ROAD, JACKSON, MI 49201-9306
Preparer
Phil S Willis CPA
Phone
5177888660
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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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE 990 IS PROVIDED TO THE FULL BOARD PRIOR TO SUBMISSION AND IS REVIEWED IN DEPTH BY KEY BOARD MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2EACH OFFICER SIGNED AN INDEPENDENCE REPORT UPON JOINING THE BOARD AND ANNUALLY THEREAFTER. ALL CONFLICTS ARE ADDRESSED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3GOVERNING DOCUMENTS MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
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ReturnHeader/TaxYr02020

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,066,536
Liabilities
$264,675
Net assets
$801,861
Revenue
$129,418
Expenses
$124,285
Net income
$5,133
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$1.26$0.03$1.23$0.22$0.18$0.04
2024Detailed filing. Detailed filing data is available for this year.$1.26$0.07$1.19$0.18$0.16$0.02
2023Detailed filing. Detailed filing data is available for this year.$1.27$0.10$1.17$0.29$0.18$0.10
2022Detailed filing. Detailed filing data is available for this year.$1.24$0.17$1.06$0.29$0.15$0.14
2021Detailed filing. Detailed filing data is available for this year.$1.07$0.15$0.92$0.22$0.11$0.12
2020Detailed filing. Detailed filing data is available for this year.$1.07$0.26$0.80$0.13$0.12$0.01
2019Detailed filing. Detailed filing data is available for this year.$1.06$0.26$0.80$0.17$0.13$0.04
2018Detailed filing. Detailed filing data is available for this year.$1.05$0.30$0.75$0.22$0.11$0.10
2017Detailed filing. Detailed filing data is available for this year.$1.12$0.47$0.65$0.27$0.08$0.19
2016Detailed filing. Detailed filing data is available for this year.$0.53$0.07$0.46$0.48$0.02$0.46
2015Summary only. Only limited summary data is available for this year.$0.00$0.00$0.00$0.00$0.00