INDIANA RAILWAY MUSEUM INC

EIN: 237029065 501(c)(3) Arts, Culture & Humanities

FRENCH LICK, IN

Total Revenue
$4,412,206
Total Expenses
$4,424,075
Total Assets
$16,763,017
Net Assets
$13,072,374
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
1961
Legal Domicile
IN
Principal Officer
STEVEN KIMBLEY
Phone
8126311646
Tax Period
2024-01-01 to 2024-12-31

INDIANA RAILWAY MUSEUM INC, founded in 1961, is a community nonprofit in the Arts, Culture & Humanities sector that reported $4.4M in total revenue in fiscal year 2024. Revenue surged 24% from the prior year, signaling strong growth momentum. Net assets of $13.1M represent 36 months of operating reserves.

Mission

TO COLLECT, PRESERVE, RESTORE, AND OPERATE HISTORIC RAILWAY EQUIPMENT FOR THE EDUCATION OF THE GENERAL PUBLIC TO PROMOTE AND FOSTER RAILWAY EDUCATION AND EXPERIENCE.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $28,818
Program Service Revenue $3,991,633
Investment Income $26,530
Other Revenue $365,225
TOTAL REVENUE $4,412,206

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,220,006
Fundraising Expenses $0
Program Expenses $3,943,971
Other Expenses $3,204,069
TOTAL EXPENSES $4,424,075

Year-over-Year Comparison

2024 2023 Change
Revenue $4,412,206 $3,551,654 +0.2%
Expenses $4,424,075 $2,984,537 +0.5%
Net Income $-11,869 $567,117 -1.0%
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

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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

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Governance

Voting Members
11
Independent Members
11
Employees
256
Volunteers
320

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
5
$0
Total Directors
11
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
RALPH BAKER DIRECTOR 1.00
Director
$0 $0 $0
G ALAN BARNETT PAST PRESIDE 1.00
Officer Director
$0 $0 $0
ROGER BROWN DIRECTOR 1.00
Director
$0 $0 $0
JOHN BUSH DIRECTOR 1.00
Director
$0 $0 $0
JOHN DOLEZAL TREASURER 1.00
Officer Director
$0 $0 $0
BRIAN HARP VICE-PRESIDE 1.00
Officer Director
$0 $0 $0
STEVEN KIMBLEY PRESIDENT 1.00
Officer Director
$0 $0 $0
BRIAN SMALL DIRECTOR 1.00
Director
$0 $0 $0
MIKE STOUT DIRECTOR 1.00
Director
$0 $0 $0
TERRY THOMAS SECRETARY 1.00
Officer Director
$0 $0 $0
DENNIS TORRENCE DIRECTOR 1.00
Director
$0 $0 $0
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 $4,412,206 $4,424,075 $16,763,017 $-11,869
2023 $3,551,654 $2,984,537 $16,643,784 $567,117
2022 $2,523,771 $2,615,598 $15,513,499 $-91,827
2021 $3,117,654 $1,436,959 $14,810,921 $1,680,695
2020 $253,771 $1,348,275 $12,973,494 $-1,094,504
2019 $3,150,918 $2,737,741 $13,274,441 $413,177
2018 $2,781,239 $2,436,550 $13,143,273 $344,689
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