DULUTH & NORTH SHORE RAILWAY INC

EIN: 411835806 501(c)(3) Arts, Culture & Humanities

DULUTH, MN

Total Revenue
$2,360,544
Total Expenses
$2,251,286
Total Assets
$497,389
Net Assets
$423,105
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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

Legal Domicile
MN
Principal Officer
EDWARD ROBINSON
Phone
2187337590
Tax Period
2025-01-01 to 2025-12-31

DULUTH & NORTH SHORE RAILWAY INC is a community nonprofit in the Arts, Culture & Humanities sector that reported $2.4M in total revenue in fiscal year 2025. Revenue decreased 6% compared to the prior year. Expenses of $2.3M left a modest 5% surplus.

Mission

PROVIDE A UNIQUE EDUCATIONAL EXPERIENCE TO THE PUBLIC ON THE HISTORY OF RAILROADS.

Program Service Accomplishments

Program 1
Expenses: $2,056,030

PRESENTS TO THE PUBLIC, THE HISTORY OF RAILROADING BY PROVIDING A UNIQUE EXPERIENCE OF RIDING ON PASSENGER TRAINS ALONG THE HISTORICE AND SCENUC NORTH SHORE OF LAKE SUPEIOR, AND IN PROVIDING SAFETY...

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PRESENTS TO THE PUBLIC, THE HISTORY OF RAILROADING BY PROVIDING A UNIQUE EXPERIENCE OF RIDING ON PASSENGER TRAINS ALONG THE HISTORICE AND SCENUC NORTH SHORE OF LAKE SUPEIOR, AND IN PROVIDING SAFETY FOR ITS EMPLOYEES, RIDERS AND OTHERH CUSTOMER SERVICE AND EDUCATION.

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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 $50,000
Program Service Revenue $1,996,146
Investment Income $21,616
Other Revenue $292,782
TOTAL REVENUE $2,360,544

Expense Breakdown

Grants Paid $0
Salaries & Benefits $780,558
Fundraising Expenses $0
Program Expenses $2,056,030
Other Expenses $1,470,728
TOTAL EXPENSES $2,251,286

Year-over-Year Comparison

2025 2024 Change
Revenue $2,360,544 $2,506,128 -0.1%
Expenses $2,251,286 $2,720,371 -0.2%
Net Income $109,258 $-214,243 -1.5%
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
23
Independent Members
23
Employees
20
Volunteers
20

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
3
$38,000
Total Directors
23
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
KEN BUEHLER EXECUTIVE DI 20.00
Officer
$34,000 $4,000 $38,000
JIM BENDER BOARD 2.00
Director
$0 $0 $0
EDWARD BURKHARDT BOARD 2.00
Director
$0 $0 $0
ROBERT BURN BOARD 2.00
Director
$0 $0 $0
JESSE CHALICH BOARD 2.00
Director
$0 $0 $0
JANIS CLAY BOARD 2.00
Director
$0 $0 $0
TOM GANNON BOARD 2.00
Director
$0 $0 $0
WILLIAM GRIMSTAD BOARD 2.00
Director
$0 $0 $0
JONATHAN LAMB BOARD 2.00
Director
$0 $0 $0
JOHN LARKIN BOARD 2.00
Director
$0 $0 $0
JOE MIKES BOARD 2.00
Director
$0 $0 $0
GORDON MOTT BOARD 2.00
Director
$0 $0 $0
MIKE NESBIT BOARD 2.00
Director
$0 $0 $0
JOHN ONGARO BOARD 2.00
Director
$0 $0 $0
RICHARD PETERSON BOARD 2.00
Director
$0 $0 $0
EDWARD ROBINSON PRESIDENT/TR 2.00
Officer Director
$0 $0 $0
DAVID SCHAUER VICE PRESIDE 2.00
Officer Director
$0 $0 $0
JAMES SCHWINKENDORF BOARD 2.00
Director
$0 $0 $0
FRED SHUSTERICH BOARD 2.00
Director
$0 $0 $0
NICK STAVIG BOARD 2.00
Director
$0 $0 $0
RICHARD STEWART BOARD 2.00
Director
$0 $0 $0
JEFF TUCKER BOARD 2.00
Director
$0 $0 $0
NEAL VANSTROM BOARD 2.00
Director
$0 $0 $0
DR TIMOTHY ZAGER BOARD 2.00
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
2025 $2,360,544 $2,251,286 $497,389 $109,258
2024 $2,506,128 $2,720,371 $410,795 $-214,243
2023 $3,156,659 $3,148,621 $696,116 $8,038
2022 $2,816,813 $2,905,112 $564,166 $-88,299
2021 $2,790,590 $2,428,008 $669,845 $362,582
2020 $1,258,582 $1,109,215 $270,835 $149,367
2019 $2,207,670 $2,180,720 $314,050 $26,950
2018 $2,111,474 $2,164,612 $231,827 $-53,138
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