2026-05-15T07:29:12-05:00 2025-06-30 205991824 SC&H TAX AND ADVISORY SERVICES LLC 226 SCHILLING CIRCLE SUITE 300 HUNT VALLEY MD 21031 990 2024-07-01 521535426 B&O RAILROAD MUSEUM INC B&OR 4107522490 901 WEST PRATT STREET BALTIMORE MD 21223 KRIS HOELLEN EXECUTIVE DIRECTOR 4107522490 2026-05-14 1 1 LORI S BURGHAUSER P00370694 4104031500 2026-05-14 2024 2025-03-06 01:10:19Z KRIS HOELLEN 901 WEST PRATT STREET BALTIMORE MD 21223 7618140 0 X WWW.BORAIL.ORG X 1987 MD TO PRESERVE THE PHYSICAL LEGACY AND THE EXPERIENCE OF AMERICAN RAILROADING AND TO DEVELOP PROGRAMS WHICH BROADEN AND DEEPEN PUBLIC APPRECIATION OF THE PAST, PRESENT AND FUTURE SIGIFICANCE OF THE RAILROAD INDUSTRY IN THE DEVELOPMENT OF AMERICAN LIFE BY COLLECTING, PRESERVING, AND INTERPRETING HISTORICAL RAILROAD DOCUMENTS, DATA, ETC. THE MUSEUM OFFERS REGULARLY SCHEDULED TRAIN RIDES, DEMONSTRATIONS OF HISTORIC RAILROADING EQUIPMENT IN THE ROUNDHOUSE, AND TOURS OF OUR SHOP FACILITY WHERE VISITORS CAN WITNESS CRAFTSMEN ACTIVELY RESTORE HISTORIC LOCOMOTIVES. THE MUSEUM ALSO OFFERS MAJOR PUBLIC PROGRAMS FOCUSED ON EARLY CHILDHOOD EDUCATION AND RAILROAD CULTURE. 30 30 62 100 0 0 5325899 3193963 2095061 2446875 945308 1025901 657247 608733 9023515 7275472 0 0 0 0 2802913 2462995 160000 62116 602436 3883047 4896158 6845960 7421269 2177555 -145797 36427335 47207476 1072886 11830262 35354449 35377214 X TO PRESERVE THE PHYSICAL LEGACY AND THE EXPERIENCE OF AMERICAN RAILROADING, TO INTERPRET AND PRESENT ITS HISTORY TO THE WIDEST POSSIBLE AUDIENCE AND TO DEVELOP PROGRAMS WHICH BROADEN AND DEEPEN PUBLIC APPRECIATION OF THE PAST, PRESENT AND FUTURE SIGNIFICANCE OF THE RAILROAD INDUSTRY IN THE DEVELOPMENT OF AMERICAN LIFE, ESPECIALLY IN THE CITY OF BALTIMORE, STATE OF MARYLAND, AND THE REGION. 0 0 5970773 2516027 DEVELOPMENT OF PROGRAMS WHICH BROADEN AND DEEPEN THE PUBLIC APPRECIATION OF THE SIGNIFICANCE OF THE RAILROAD INDUSTRY IN THE DEVELOPMENT OF AMERICAN LIFE BY COLLECTING, PRESERVING, AND INTERPRETING HISTORICAL RAILROAD DOCUMENTS, DATA, ETC. THE MUSEUM OFFERS REGULARLY SCHEDULED TRAIN RIDES, DEMONSTRATIONS OF HISTORIC RAILROADING EQUIPMENT IN THE ROUNDHOUSE, AND TOURS OF OUR SHOP FACILITY WHERE VISITORS CAN WITNESS CRAFTSMEN ACTIVELY RESTORING HISTORIC LOCOMOTIVES. THE MUSEUM ALSO OFFERS MAJOR PUBLIC PROGRAMS FOCUSED ON EARLY CHILDHOOD EDUCATION AND RAILROAD CULTURE. 50673 TO OPERATE AND MAINTAIN AN EQUESTRIAN FACILITY FOR MUSEUM PROGRAMMING AND SECURITY 6021446 1 1 0 1 0 0 0 1 0 1 1 0 0 1 1 1 0 1 0 0 0 0 0 1 1 0 0 0 0 1 0 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 1 102 0 62 1 0 0 0 0 0 1 1 0 0 0 1 0 0 0 X 30 30 0 0 0 0 0 0 0 1 1 0 1 1 1 1 1 1 1 1 1 1 0 MD X X KRIS HOELLEN 4107522490 901 WEST PRATT STREET BALTIMORE MD 21223 FRANCIS X SMYTH CHAIRMAN 5.00 0.00 X X 0 0 0 SUZZANNE DECKER CORPORATE SECRETARY 5.00 0.00 X X 0 0 0 JOSHUA WARFIELD TREASURER 5.00 0.00 X X 0 0 0 REBECCA ALTMAN BOARD MEMBER 1.00 0.00 X 0 0 0 CATHRIN BANKS BOARD MEMBER 1.00 0.00 X 0 0 0 STEVE J BANKS BOARD MEMBER 1.00 0.00 X 0 0 0 ANIRBAN BASU BOARD MEMBER 1.00 0.00 X 0 0 0 BRITTANY BRAMHALL BOARD MEMBER 1.00 0.00 X 0 0 0 JANET CURRIE BOARD MEMBER 1.00 0.00 X 0 0 0 ANDREW DAVIS BOARD MEMBER 1.00 0.00 X 0 0 0 JOSEPH DAVIS BOARD MEMBER 1.00 0.00 X 0 0 0 RONALD W DRUCKER BOARD MEMBER 1.00 0.00 X 0 0 0 GREGORY FARNO BOARD MEMBER 1.00 0.00 X 0 0 0 RIAN HARGRAVE BOARD MEMBER 1.00 0.00 X 0 0 0 ERIC THOMAS HENDRICKSON BOARD MEMBER 1.00 0.00 X 0 0 0 BRIAN JACOBY BOARD MEMBER 1.00 0.00 X 0 0 0 BRUNO MAESTRI BOARD MEMBER 1.00 0.00 X 0 0 0 JOHN MAGNESS BOARD MEMBER 1.00 0.00 X 0 0 0 FRANK MOFFA BOARD MEMBER 1.00 0.00 X 0 0 0 ANTHONY PARKER BOARD MEMBER 1.00 0.00 X 0 0 0 THOMAS PILKERTON BOARD MEMBER 1.00 0.00 X 0 0 0 GREGORY C PINKARD BOARD MEMBER 1.00 0.00 X 0 0 0 GEORGE S RICH BOARD MEMBER 1.00 0.00 X 0 0 0 CRAIG D ROSWELL BOARD MEMBER 1.00 0.00 X 0 0 0 ADAM F SANDY BOARD MEMBER 1.00 0.00 X 0 0 0 JANE M SHAAB BOARD MEMBER 1.00 0.00 X 0 0 0 PETER J SHUDTZ BOARD MEMBER 1.00 0.00 X 0 0 0 ALANNA STROHECKER BOARD MEMBER 1.00 0.00 X 0 0 0 GAYNELLE SWAN BOARD MEMBER (PART YEAR) 1.00 0.00 X 0 0 0 DANIEL TAMBELLINI BOARD MEMBER 1.00 0.00 X 0 0 0 BRIAN TUCKER BOARD MEMBER 1.00 0.00 X 0 0 0 PETER J VASCO BOARD MEMBER (PART YEAR) 1.00 0.00 X 0 0 0 KRIS HOELLEN EXECUTIVE DIRECTOR 40.00 2.00 X 233941 0 31593 JONATHAN GOLDMAN CURATORIAL DIRECTOR 40.00 0.00 X 139278 0 26023 JOANNE WOOLLEY DEVELOPMENT DIRECTOR 40.00 2.00 X 141512 0 17578 STEVE JOHNSON FACILITIES DIRECTOR 40.00 0.00 X 103107 0 832 JOEL DRABKIN CONTROLLER 40.00 2.00 X 104189 0 21333 722027 0 97359 4 0 1 0 SOUTHWAY BUILDERS INC 1318 EAST FORT AVENUE BALTIMORE MD 21230 CONSTRUCTION 754107 RAIL EVENTS INC 479 MAIN AVENUE DURANGO CO 81301 EVENT MANAGEMENT 497911 DESIGN COLLECTIVE INC 100 EAST PRATT ST 18TH FLOOR BALTIMORE MD 21202 ARCHITECTURE 367655 CROWN FOODS INC 7719 BALTIMORE ANNAPOLIS BLVD GLEN BURNIE MD 21060 EVENT CATERING 131189 BALTIMORE COUNTRY CLUB 4712 CLUB ROAD BALTIMORE MD 21210 EVENT SPACE 120551 5 172536 151700 1233360 1636367 547839 3193963 ADMISSIONS 713990 2446875 2446875 2446875 361111 361111 31113 31113 342996 0 342996 342996 342996 726271 61397 84 664874 -84 664790 664790 126301 151700 129715 -3414 -3414 296175 151472 144703 144703 TRAIN RIDES 713990 69152 69152 TAX REFUND 900099 7104 7104 ARCHIVES 812900 3597 3597 13482 13482 93335 7275472 2516027 0 1565482 X 265534 66384 132766 66384 1837470 1355803 269120 212547 30000 21636 2724 5640 179399 119558 18331 41510 150592 105389 24710 20493 200384 200384 72124 72124 84000 84000 62116 62116 64636 64636 1104035 1038870 29124 36041 65999 65619 380 186134 157010 10087 19037 173487 143858 17745 11884 532194 405643 126551 152830 151064 1725 41 45997 45997 774900 774900 199993 156691 43302 OUTREACH AND COLLABORAT 548277 534883 13248 146 DONATED GOODS EXPENSE 350569 350569 TRAIN & RAIL MAINTENANC 225799 225799 FINANCE AND BANKING 110124 96713 13365 46 4676 4676 7421269 6021446 797387 602436 531263 5095266 2552280 1727779 5704000 3239176 90861 0 0 83676 124386 77505 473476 25581637 8542837 15785651 17038800 11497140 12232795 78836 94848 26123 7180950 36427335 47207476 257518 1284333 52000 41234 737245 662245 26123 9842450 1072886 11830262 X 24362998 24055341 10991451 11321873 35354449 35377214 36427335 47207476 -145797 168562 0 X X 0 1 X 1 0 X 2943723 3845380 8735703 5325899 3193963 24044668 2943723 3845380 8735703 5325899 3193963 24044668 5735985 18308683 253135 345270 593957 733112 735220 2660694 480593 433655 510814 473392 446659 2345113 29050475 10068433 0.63020 0.66220 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2020 AMOUNT: $ 86,218. 2021 AMOUNT: $ 71,860. 2022 AMOUNT: $ 98,680. 2023 AMOUNT: $ 84,153. 2024 AMOUNT: $ 24,183. FUNDRAISING - 2020 AMOUNT: $ 74,495. 2021 AMOUNT: $ 65,576. 2022 AMOUNT: $ 134,607. 2023 AMOUNT: $ 138,170. 2024 AMOUNT: $ 126,301. GROSS SALES OF INVENTORY - 2020 AMOUNT: $ 319,880. 2021 AMOUNT: $ 296,219. 2022 AMOUNT: $ 277,527. 2023 AMOUNT: $ 251,069. 2024 AMOUNT: $ 296,175. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 1 84000 0 0 84000 0 PART II-B, LINE 1: THE MUSEUM PAYS AN INDEPENDENT LOBBYIST TO MONITOR LEGISLATION RELEVANT TO ITS EXEMPT ACTIVITIES. DURING THIS TAX YEAR, THE MUSEUM PAID $84,000. X X X X 0 11497140 163020 1056339 387000 96704 12232795 10852265 1301825 387000 269950 11497140 10151931 969241 268906 10852266 11963999 -1359068 453000 10151931 10414832 2435542 886375 11963999 0.96760 0.03240 0 0 4341478 4341478 7524517 3329625 4194892 10932598 4685868 6246730 1052472 264740 787732 1730572 262604 1467968 17038800 RIGHT-OF-USE ASSETS - OPERATING 42450 LEVERAGE LENDER LOAN RECEIVABLE - B&O 200 FUND 7138500 7180950 LEASE LIABILITIES - RIGHT-OF-USE 42450 QUALIFIED LOW-INCOME COMMUNITY INVESTMENT LOAN PAYABLE 9800000 9842450 X PART III, LINE 1A: THE MUSEUM'S COLLECTION IS MADE UP OF ARTIFACTS OF HISTORICAL SIGNIFICANCE, INCLUDING LOCOMOTIVES, ROLLING STOCK, HISTORIC VEHICLES, MANUSCRIPTS, BOOKS, FINE ART, PHOTOGRAPHS, AND OTHER DECORATIVE AND ARCHIVAL MATERIALS. HISTORIC BUILDINGS INCLUDE THE MT. CLARE STATION (1851), THE PASSENGER CAR SHOP (THE ROUNDHOUSE) (1884), THE ANNEX (1884), THE NORTH PASSENGER CAR SHOP (1869) AND THE SOUTH PASSENGER CAR SHOP (1870). THE MUSEUM'S COLLECTION, WHICH WAS ACQUIRED THROUGH PURCHASES AND CONTRIBUTIONS SINCE THE MUSEUM'S INCEPTION AND CONSISTS OF VARIOUS ARTIFACTS OF HISTORICAL SIGNIFICANCE, IS NOT RECOGNIZED AS AN ASSET ON THE STATEMENT OF FINANCIAL POSITION. PURCHASES OF COLLECTION ITEMS ARE RECORDED AS DECREASES IN NET ASSETS WITHOUT DONOR RESTRICTIONS IN THE YEAR IN WHICH THE ITEMS ARE ACQUIRED OR AS DECREASES IN NET ASSETS WITH DONOR RESTRICTIONS IF THE NET ASSETS USED TO PURCHASE THE ITEMS ARE RESTRICTED BY DONORS. CONTRIBUTED COLLECTION ITEMS ARE NOT REFLECTED ON THE FINANCIAL STATEMENTS. PROCEEDS FROM DEACCESSIONS OR INSURANCE RECOVERIES ARE REFLECTED AS INCREASES IN THE APPROPRIATE NET ASSET CLASSES. PART III, LINE 4: THE MUSEUM'S COLLECTION CONSISTS OF ARTIFACTS OF HISTORICAL SIGNIFICANCE, INCLUDING HISTORICAL BUILDINGS, LOCOMOTIVES, ROLLING STOCK, HISTORIC VEHICLES, MANUSCRIPTS, BOOKS, FINE ART, PHOTOGRAPHS, AND OTHER DECORATIVE AND ARCHIVAL MATERIALS. THIS COLLECTION IS ON PUBLIC DISPLAY AND IS USED FOR EDUCATIONAL AND RESEARCH PURPOSES IN ACCORDANCE WITH THE ORGANIZATIONS MISSION TO PRESERVE THE PHYSICAL LEGACY AND EXPERIENCE OF AMERICAN RAILROADING, AND TO INTERPRET AND PRESENT ITS HISTORY TO THE WIDEST POSSIBLE AUDIENCE. THE COLLECTION IS INTENDED TO DEVELOP PROGRAMS WHICH BROADEN AND DEEPEN PUBLIC APPRECIATION OF THE PAST, PRESENT AND FUTURE SIGNIFICANCE OF THE RAILROAD INDUSTRY IN THE DEVELOPMENT OF AMERICAN LIFE, ESPECIALLY IN THE CITY OF BALTIMORE, STATE OF MARYLAND, AND THE REGION. PART V, LINE 4: THE MUSEUM'S BOARD DESIGNATED NET ASSETS ARE COMPOSED OF AN ENDOWMENT THAT CONSISTS OF MULTIPLE FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES AND OTHER ASSETS THAT THE BOARD OF DIRECTORS HAVE DESIGNATED FOR CERTAIN PURPOSES. THE ENDOWMENT INCLUDES FUNDS DESIGNATED BY THE BOARD OF DIRECTORS TO FUNCTION AS ENDOWMENTS. PART X, LINE 2: ASC 740, INCOME TAXES, PRESCRIBES THE RECOGNITION AND MEASUREMENT OF A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. IT ALSO PROVIDES GUIDANCE ON DERECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, ACCOUNTING IN INTERIM PERIODS, DISCLOSURE AND TRANSITION. FOR THOSE BENEFITS TO BE RECOGNIZED, A TAX POSITION MUST BE MORE-LIKELY-THAN-NOT TO BE SUSTAINED UPON EXAMINATION BY TAXING AUTHORITIES. THE AMOUNT RECOGNIZED IS MEASURED AS THE LARGEST AMOUNT OF BENEFIT THAT IS GREATER THAN FIFTY PERCENT LIKELY OF BEING REALIZED UPON ULTIMATE SETTLEMENT. THE ORGANIZATION RECOGNIZES INTEREST AND PENALTIES ACCRUED ON ANY UNRECOGNIZED TAX EXPOSURES AS A COMPONENT OF INCOME TAX EXPENSE. THE ORGANIZATION DOES NOT HAVE ANY AMOUNTS ACCRUED RELATING TO INTEREST AND PENALTIES AS OF JUNE 30, 2025 AND 2024. X X X X X X 1 BOB CARTER LLC 2145 14TH AVE STE 26 VERO BEACH FL 32960 CAPITAL CAMPAIGN CONSULTANT 0 0 62116 -62116 62116 -62116 MD ROYAL BLUE (GOLF TOURNAMENT) 278001 151700 126301 24 84466 42085 3140 278001 151700 126301 24 84466 42085 3140 129715 -3414 X X X 0 0 0 0 0 0 0 0 0 KRIS HOELLEN EXECUTIVE DIRECTOR 233941 0 0 0 0 0 7200 0 24393 0 265534 0 0 0 JONATHAN GOLDMAN CURATORIAL DIRECTOR 139278 0 0 0 0 0 4343 0 21680 0 165301 0 0 0 JOANNE WOOLLEY DEVELOPMENT DIRECTOR 141512 0 0 0 0 0 4343 0 13235 0 159090 0 0 0 X 1 6284 FMV X 4 197120 FMV X 48 22285 FMV X PROTOTYPES 1 322000 FMV 0 1 0 FORM 990, PART VI, SECTION B, LINE 11B THE GOVERNING BODY AND FINANCE COMMITTEE REVIEW AND APPROVE THE FORM 990 PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION CONTINUOUSLY MONITORS AND ENFORCES THEIR CONFLICT OF INTEREST POLICY. EACH YEAR EVERY BOARD MEMBER SIGNS A CONFLICT OF INTEREST STATEMENT STATING THEY HAVE NO CONFLICTS OF INTEREST RELATING TO ISSUES SUBJECT TO BOARD ACTION AND APPROVAL. IN ADDITION, ANY PAYMENTS TO ANY EXTERNAL PARTY RELATED TO A BOARD MEMBER IS DISCLOSED TO THE ENTIRE BOARD. IF A CONFLICT IS PERCEIVED THAT A BOARD MEMBER DOES NOT BELIEVE IS A CONFLICT, IT WOULD BE DISCUSSED BY THE EXECUTIVE COMMITTEE, AND IF NECESSARY, IT MIGHT CHOOSE TO REQUIRE THE BOARD MEMBER TO RECUSE HIM/HERSELF FROM ANY DISCUSSION OR BOARD ACTION. ISSUES RELATED TO ANY POTENTIAL CONFLICT OF INTEREST AT THE STAFF LEVEL ARE COVERED IN THE MUSEUM'S PERSONNEL POLICY. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION OF EXECUTIVE DIRECTOR IS REVIEWED AND APPROVED BY THE EXECUTIVE COMMITTEE. TOP MANAGEMENT IS REVIEWED AND DETERMINED BY THE EXECUTIVE DIRECTOR AND APPROVED BY THE EXECUTIVE COMMITTEE. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICTS OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. IN ADDITION, THE FINANCIAL STATEMENTS AND ANNUAL REPORT ARE AVAILABLE ONLINE VIA WWW.BORAIL.ORG. THE FORM 990 IS MADE AVAILABLE VIA WWW.GUIDESTAR.ORG. FORM 990, PART IX, LINE 11G CAPITAL CAMPAIGN: PROGRAM SERVICE EXPENSES 126,564. MANAGEMENT AND GENERAL EXPENSES 22,610. FUNDRAISING EXPENSES 34,348. TOTAL EXPENSES 183,522. INTERNSHIPS: PROGRAM SERVICE EXPENSES 142,333. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 142,333. SECURITY: PROGRAM SERVICE EXPENSES 200,332. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 200,332. EVENT CONTRACTORS: PROGRAM SERVICE EXPENSES 257,937. MANAGEMENT AND GENERAL EXPENSES 5,367. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 263,304. OTHER PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 311,704. MANAGEMENT AND GENERAL EXPENSES 1,147. FUNDRAISING EXPENSES 1,693. TOTAL EXPENSES 314,544. FORM 990, PAGE 12, PART XII, LINE 2C: THE ORGANIZATION HAS NOT CHANGED ITS OVERSIGHT PROCESS FROM THE PRIOR YEAR. FIRST MILE STABLE CHARITABLE FOUNDATION LLC 901 WEST PRATT STREET BALTIMORE MD 21223 TO SUPPORT THE CHARITABLE AND OTHER RELATED PURPOSES OF THE MUSEUM MD 2933507 B&O RAILROAD MUSEUM B&O 200 FUND INC 901 W PRATT STREET BALTIMORE MD 21223 334215072 ACT AS A LEVERAGED LENDER IN ONE OR MORE NMTC FINANCING AGREEMENTS MD 501(C)(3) LINE 12A, I THE B&O RAILROAD MUSEUM INC 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 B&O 200 FUND INC D 7138500 COST