Maine Narrow Gauge Railroad and Industrial Heritage Trust (EIN 010478004) - Form 990 Financial Analysis & Trantor Score

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Tuckman-Chang Vulnerability Assessment

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Financial Trends

Organization Details

Formation Year

1993

Legal Domicile

Principal Officer

Griffin Bourassa

Phone

2078280814

Tax Period

2023-04-01 to 2024-03-31

Maine Narrow Gauge Railroad and Industrial Heritage Trust is a 501(c)(3) with EIN 010478004, based in Portland, ME. Founded in 1993, the organization files IRS Form 990 and reported its most recent data for fiscal year 2023. In that period, it reported $1,839,157 in total revenue and $1,862,436 in total expenses, with net assets of $1,706,024.

Mission

The Maine Narrow Gauge Railroad Company & Museum preserves and operates historic two-foot gauge railroad equipment for the education and enjoyment of the public.

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $47,900

Program Service Revenue $1,715,747

Investment Income $38,720

Other Revenue $36,790

TOTAL REVENUE $1,839,157

Expense Breakdown

Grants Paid $0

Salaries & Benefits $573,770

Fundraising Expenses $91,941

Program Expenses $1,521,643

Other Expenses $1,288,666

TOTAL EXPENSES $1,862,436

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,839,157	$1,468,612	+0.3%
Expenses	$1,862,436	$1,300,223	+0.4%
Net Income	$-23,279	$168,389	-1.1%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

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Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

600

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$97,590

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Paul Forbes	President	1.00	Officer Director	$0	$0	$0
Dakota Dumont	Vice President	1.00	Officer Director	$0	$0	$0
Brian Libby	Treasurer	1.00	Officer Director	$0	$0	$0
Jonathan Keenan	Secretary	1.00	Officer Director	$0	$0	$0
Alex Ensign	Trustee	1.00	Director	$0	$0	$0
Ron Guay	Trustee	1.00	Director	$0	$0	$0
Jess Davis-Knowlton	Trustee	1.00	Director	$0	$0	$0
Griffin Bourassa	Executive Director	40.00	Officer	$92,404	$5,186	$97,590

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$1,839,157	$1,862,436	$1,948,394	$-23,279
2022	$1,233,107	$696,670	$2,187,281	$536,437
2021	$465,441	$615,094	$1,669,092	$-149,653
2020	$937,781	$801,394	$1,706,844	$136,387
2018	$808,625	$673,745	$1,713,671	$134,880

Maine Narrow Gauge Railroad and Industrial Heritage Trust