RAILROADING HERITAGE OF MIDWEST AMERICA INC (EIN 411723120) - Form 990 Financial Analysis & Trantor Score

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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

1991

Legal Domicile

Principal Officer

STEVE SANDBERG

Phone

6128603678

Tax Period

2024-01-01 to 2024-12-31

RAILROADING HERITAGE OF MIDWEST AMERICA INC, founded in 1991, is a community nonprofit in the Arts, Culture & Humanities sector that reported $4.1M in total revenue in fiscal year 2024. Revenue fell 54% from the prior year — a significant decline worth monitoring. Net assets of $16.3M represent 48 months of operating reserves.

Mission

RHMA PROMOTES PUBLIC UNDERSTANDING OF THE HISTORY OF RAILROADING IN THE MIDWEST BY PRESERVING, RESTORING, OPERATING AND INTERPRETING HISTORIC LOCOMOTIVES AND RAIL CARS.

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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%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $2,207,843

Program Service Revenue $1,664,701

Investment Income $169,325

Other Revenue $9,000

TOTAL REVENUE $4,050,869

Expense Breakdown

Grants Paid $0

Salaries & Benefits $683,426

Fundraising Expenses $2,868

Program Expenses $3,957,965

Other Expenses $3,421,164

TOTAL EXPENSES $4,104,590

Year-over-Year Comparison

	2024	2023	Change
Revenue	$4,050,869	$8,773,842	-0.5%
Expenses	$4,104,590	$3,054,597	+0.3%
Net Income	$-53,721	$5,719,245	-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

Governance

Voting Members

Independent Members

Employees

Volunteers

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

$163,276

Total Directors

$164,236

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
STEVE SANDBERG	PRESIDENT	40.00	Officer Director	$116,258	$0	$116,258
MEGAN SANDBERG	VICE PRESIDE	40.00	Officer Director	$47,018	$0	$47,018
ED SELINSKY	DIRECTOR	5.00	Director	$960	$0	$960
RICHARD BOULET	DIRECTOR	5.00	Director	$0	$0	$0
ERIK HOOFNAGLE	DIRECTOR	10.00	Director	$0	$0	$0
JON STRAND	DIRECTOR	10.00	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	$4,050,869	$4,104,590	$16,497,617	$-53,721
2023	$8,773,842	$3,054,597	$16,593,606	$5,719,245
2022	$9,819,014	$2,603,296	$10,840,038	$7,215,718
2021	$2,025,024	$1,307,651	$2,946,442	$717,373
2020	$928,588	$743,341	$2,237,308	$185,247
2019	$2,022,807	$1,262,826	$2,075,479	$759,981
2018	$1,277,932	$942,937	$1,237,645	$334,995

RAILROADING HERITAGE OF MIDWEST AMERICA INC