NATIONAL RAILROAD MUSEUM INC

EIN: 396031429 501(c)(3)

GREEN BAY, WI

Total Revenue
$3,346,553
Total Expenses
$2,476,071
Total Assets
$27,470,540
Net Assets
$22,396,937
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1958
Legal Domicile
WI
Principal Officer
DAVID J WARD
Phone
9204377623
Tax Period
2025-01-01 to 2025-12-31

NATIONAL RAILROAD MUSEUM INC, founded in 1958, is a community nonprofit that reported $3.3M in total revenue in fiscal year 2025. Revenue fell 73% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $870K, a strong 26% operating margin.

Mission

THE NATIONAL RAILROAD MUSEUM, INC. FOSTERS AN UNDERSTANDING OF RAILROADING AND ITS SIGNIFICANCE TO AMERICAN LIFE. WE PURSUE THIS MISSION BY FOLLOWING ESTABLISHED MUSEUM PRACTICES, PROVIDING ONGOING PROGRAMS FOR ON-AND-OFF CAMPUS VISITORS, STRATEGICALLY COLLECTING ARTIFACTS, OFFERING INTERESTING AND ENGAGING EXHIBITS, AND INTERPRETING RAILROAD RELATED TOPICS.

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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 (2025)

Revenue Breakdown

Contributions & Grants $1,815,616
Program Service Revenue $933,610
Investment Income $61,527
Other Revenue $535,800
TOTAL REVENUE $3,346,553

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,213,385
Fundraising Expenses $202,911
Program Expenses $2,004,014
Other Expenses $1,193,142
TOTAL EXPENSES $2,476,071

Year-over-Year Comparison

2025 2024 Change
Revenue $3,346,553 $12,493,960 -0.7%
Expenses $2,476,071 $2,398,407 +0.0%
Net Income $870,482 $10,095,553 -0.9%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✓ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Distress Indicator

Liquidity & Cash Position

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Governance

Voting Members
12
Independent Members
11
Employees
28
Volunteers
240

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
$103,580
Total Directors
12
$103,580
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JACQUELINE FRANK CEO 40.00
Officer Director
$103,580 $0 $103,580
ADAM ACHTEN DIRECTOR 1.00
Director
$0 $0 $0
BRIAN BUCHANAN SECRETARY 1.00
Officer Director
$0 $0 $0
JASON HILMANOWSKI DIRECTOR 1.00
Director
$0 $0 $0
RYAN KRUMRIE DIRECTOR 1.00
Director
$0 $0 $0
JUSTIN KUDICK TREASURER 2.00
Officer Director
$0 $0 $0
ANDREW LAURENT DIRECTOR 1.00
Director
$0 $0 $0
JEROME LOPAS DIRECTOR 1.00
Director
$0 $0 $0
PAUL PARISH DIRECTOR 1.00
Director
$0 $0 $0
HEIDI SHERMAN DIRECTOR 1.00
Director
$0 $0 $0
NICK SPUDE VICE-PRESIDE 1.00
Officer Director
$0 $0 $0
DAVID J WARD PRESIDENT 10.00
Officer 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
2025 $3,346,553 $2,476,071 $27,470,540 $870,482
2024 $12,493,960 $2,398,407 $23,177,176 $10,095,553
2023 $3,804,819 $2,290,996 $12,684,420 $1,513,823
2022 $2,275,275 $2,039,884 $10,962,435 $235,391
2021 $3,836,753 $1,586,001 $10,947,980 $2,250,752
2020 $1,191,463 $1,436,997 $8,556,202 $-245,534
2019 $1,797,790 $1,500,292 $8,849,091 $297,498
2018 $1,517,776 $1,540,883 $8,623,678 $-23,107
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