Civic Intelligence

Lost Railway Museum

990 • Fiscal year 2024 • EIN 47-5410254

Jan 01, 2024 to Dec 31, 2024 • Filed on May 27, 2025

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

50th percentile

0.06x

Higher debt load relative to assets than 50% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

78th percentile

0.41x

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

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

62nd percentile

11%

Higher net margin than 62% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

40th percentile

$0

Higher top officer pay than 40% of similar nonprofits.

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

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Asset Growth

35th percentile

-0.5%

Faster asset growth than 35% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

8th percentile

-37%

Faster revenue growth than 8% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets50th percentile

Assets

Down

$1,261,956

Down $6,088 (-0.5%) from 2023

Net Assets

Up

$1,187,611

Up $20,412 (+1.7%) from 2023

Liabilities

Down

$74,345

Down $26,500 (-26%) from 2023

Revenue And Expenses
Liabilities / Revenue78th percentileNet Margin62nd percentile

Revenue

Down

$180,870

Down $107,224 (-37%) from 2023

Expenses

Down

$160,458

Down $23,296 (-13%) from 2023

Net Income

Down

$20,412

Down $83,928 (-80%) from 2023

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

2024

Assets$1,261,956
Liabilities$74,345
Net Assets$1,187,611
Open 2024 Filing

Operations Trend

Revenue Growth8th 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

2024

Revenue$180,870
Expenses$160,458
Net Income$20,412
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
May 27, 2025
Return Version
2024v5.0
Gross Receipts
$182,374
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$1,203,316$1,223,123▲ $19,807
Cash and Non-Interest-Bearing Accounts$61,827$33,564▼ $28,263
Inventories for Sale or Use$2,901$3,405▲ $504
Prepaid Expenses and Deferred Charges-$1,864-
Total Assets$1,268,044$1,261,956▼ $6,088
Liabilities
Unsecured Notes Loans Payable$99,167$74,167▼ $25,000
Accounts Payable and Accrued Expenses$1,498--
Other Liabilities$180$178▼ $2
Total Liabilities$100,845$74,345▼ $26,500
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,167,199$1,187,611▲ $20,412
Total Net Assets Fund Balance$1,167,199$1,187,611▲ $20,412
Total Liabilities and Net Assets / Fund Balance$1,268,044$1,261,956▼ $6,088

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$859,318$141,059$1,000,377
Land$285,084-$285,084
Other Land Buildings$78,721$24,788$103,509
Compensation and Service Providers
Top Officer Pay40th percentile

Board Members and Trustees

NameTitle
Phil WillisPresident
Dawn CuddieDirector
Jamie WillisDirector
Jim StormontDirector
Paula AutryDirector
Sandra RichardsDirector
Stephen OsmondDirector
Steve RudolphDirector
Steve MakulskiSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$175,948
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$4,922
All Other Contributions
$175,948
Change in Net Assets
$20,412
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$160,458
Total Fundraising Expense$7,600
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$52,500$17,500-$70,000
Depreciation Depletion$23,675$2,631-$26,306
Advertising$10,538--$10,538
Occupancy$9,000$1,000-$10,000
Insurance$5,645$627-$6,272
Interest$5,296$589-$5,885
Other Expenses$2,821$604$604$4,029
Office Expenses$2,738$587$587$3,912
Fees for Services Accounting-$2,000-$2,000
All Other Expenses-$433-$433
Total Functional Expenses$126,887$25,971$7,600$160,458
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Sales Tax Payable$178
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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 jamie willis president director 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
President
Phone
5177888660
Signed
2025-05-27
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Phil Willis
Formed
2015
Legal Domicile
Mi
Voting Board Members
9
Independent Board Members
9
Employees
0
Volunteers
100

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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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0178
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0SALES TAX PAYABLE
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0PHIL WILLIS JAMIE WILLIS PRESIDENT DIRECTOR FAMILY MEMBER
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.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/VotingMembersIndependentCnt09
IRS990/WebsiteAddressTxt0WWW.LOSTRAILWAYMUSEUM.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0PHIL WILLIS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum05177888660
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-05-27
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0LOST RAILWAY MUSEUM
ReturnHeader/Filer/BusinessNameControlTxt0LOST
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ReturnHeader/Filer/PhoneNum05175229500
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ReturnHeader/Filer/USAddress/CityNm0GRASS LAKE
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0381964450
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0WILLIS & JURASEK PC CPAS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt04100 SPRING ARBOR ROAD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0JACKSON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MI
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0492019306
ReturnHeader/PreparerPersonGrp/PhoneNum05177888660
ReturnHeader/PreparerPersonGrp/PreparationDt02025-06-11
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0PHIL S WILLIS CPA
ReturnHeader/ReturnTs02025-06-11T15:50:16-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

Document Assets

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Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,261,956
Liabilities
$74,345
Net assets
$1,187,611
Revenue
$180,870
Expenses
$160,458
Net income
$20,412
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