Brooks Preservation Society
Public records show a registered, tax-exempt organization in good standing.
Points to look into
- It reported loans to or from officers, directors or other insiders.
These come from the organization's own tax return. There may be a good explanation; ask the charity.
What it says it does
Preserve, Maintain, Operate the Belfast Moosehead Lake Railroad
- Income
- $577,085
- Spending
- $348,052
- Spent on programs
- 100%
- Reserves
- -19.7 months of spending
- Largest source of income
- fees for its services, 62%
- Employees
- 0
- Volunteers
- 20
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Financial health
Fair: 55 out of 100. Higher than 23% of charities in its peer group (arts and culture, $250k to $1m).
Reserves
0 of 35Spendable reserves are negative: it owes or has committed more than it holds.
Debt
10 of 20It owes 45% of what it owns.
Living within its means
15 of 15Income exceeded spending by 40% of income.
Income trend
15 of 15Income rose 89% on the year before.
Spending floor
15 of 15100% of spending went to programs and raising each dollar of donations cost 0 cents.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Governance
Fair: 64 out of 100. Higher than 37% of charities in its peer group (arts and culture, $250k to $1m).
Independent board
25 of 2523 of 23 voting board members are independent.
Conflict of interest policy
15 of 15Has a written conflict of interest policy.
Whistleblower policy
0 of 8Reports no written whistleblower policy.
Record keeping policy
0 of 7Reports no written policy on keeping and destroying records.
Board minutes
5 of 5Keeps minutes of board meetings.
Board sees the tax return
10 of 10Gave the board a copy of this return before filing it.
Independent check of accounts
6 of 15Its accounts were not audited or reviewed by an independent accountant.
No reported misuse
0 of 10Reports at least one of: diversion of assets, excess benefits, loans to insiders.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Impact evidence
Describes programs. Its tax return describes what it does but we have found no measurable results in it.
Programs described in its return (4)
- $296,254 spent. Preserve, Maintain, Operate the Belfast Moosehead Lake Railroad. 2024 concluded with over 13,000 passengers attending our events including over 4,800 using the train for the Common Ground County Fair. A number of track improvement projects were completed including the surfacing of 5 miles of the operating territory and the re decking of the Unity Bridge. We continue to make improvements in the non operating territory between Brooks and Thorndike. The Railroad completed improvements to its leased space at 212 Depot Street and now has a Gift Shop, Ticketing station, and kitchen to support our food based events. The Railroad received a generous donation of land and money from a lifetime member. The land being the site of the former Thorndike Engine house which was damaged beyond repair by the December 2023 wind storm. The society also received a donation of a rare Bangor and Aroostook RR scale car.
- $6,923 spent. Railcycle Program - Operations moved to Belfast and operated by staff. The operation got off to a late start due to the move and saw around 450 riders.
- $22,205 spent. Locomotive Program - Repairs Maintenance 1483 remains our primary locomotive. 1950 is our backup unit. The railroad entered into an arrangement to obtain an SW1 locomotive 705 for storage and maintenance. Special idler trucks were rented to allow for the movement of the locomotive over the rail network to Unity Maine. It is hoped that this locomotive will become the primary unit for our excursion trains.
- Program Service Expenses 22,670, Grants and allocations 0, Revenue 0 MOW Program - Used the TKO tie inserter for the first time this year. The machine is less versatile than the Fairmont but provides another machine for production work. The year ended with the acquisition of a used Case Tractor Backhoe and pickup truck from State Surplus.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Legitimacy checks
Is it registered with the IRS? Passed.
Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Has the IRS revoked its tax-exempt status? Passed.
Not on the IRS automatic revocation list.
Source: Automatic revocation of exemption list, Internal Revenue Service, file dated October 13, 2026.
Are donations tax-deductible? Passed.
On the IRS list of organizations eligible to receive tax-deductible contributions.
Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.
Is it keeping up with its IRS filings? Passed.
Most recent return on file covers the year ending December 2024.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
How long has it been tax-exempt? Passed.
Recognized by the IRS since January 2009.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Is it in good standing with state regulators? Passed.
Not on California's list of charities barred from soliciting. Other states are not yet checked.
Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 21, 2026.
Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.