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| A very nice gift to the Railroad Museum of Long Island! https://www.rypn.org/forums/viewtopic.php?f=1&t=38017 |
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| Author: | Finderskeepers [ Fri May 01, 2015 2:52 pm ] |
| Post subject: | A very nice gift to the Railroad Museum of Long Island! |
Saw this on a completely unrelated page, seems this individual left all his assets to the railroad museum of Long Island, he had no relatives and was never married apparently http://riverheadnewsreview.timesreview. ... ad-museum/ |
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| Author: | ArtS [ Fri May 01, 2015 3:21 pm ] |
| Post subject: | Re: A very nice gift to the Railroad Museum of Long Island! |
Great story! |
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| Author: | robertmacdowell [ Fri May 01, 2015 4:13 pm ] |
| Post subject: | Re: A very nice gift to the Railroad Museum of Long Island! |
I am glad they are putting 40% into an endowment. This would give them the second largest endowment in railway preservation that I know of. It is always a dilemma for railway museums, since the best endowment may well actually be carbarns. The Form 990 will report an "unusual donation" which means it does not threaten the 33% public support test and other calculations. |
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| Author: | Richard Glueck [ Fri May 01, 2015 6:57 pm ] |
| Post subject: | Re: A very nice gift to the Railroad Museum of Long Island! |
A wonderful gift to be sure! Let's hope some of this goes to restoring and protecting their BEDT #16 0-6-0 and their RS3 #1556, as well as G5s #39. I'm really glad the gentleman found a way to benefit railroad preservation. |
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| Author: | 1200v [ Fri May 01, 2015 9:01 pm ] |
| Post subject: | Re: A very nice gift to the Railroad Museum of Long Island! |
So, if this is the second largest, what railway preservation group has the largest? TIA |
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| Author: | Al Stangenberger [ Fri May 01, 2015 9:47 pm ] |
| Post subject: | Re: A very nice gift to the Railroad Museum of Long Island! |
The Western Railway Museum's endowment is about $5,669,000 thanks to Loring Jensen's bequest. |
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| Author: | Mark Z. Yerkes [ Fri May 01, 2015 10:41 pm ] |
| Post subject: | Re: A very nice gift to the Railroad Museum of Long Island! |
Richard Glueck wrote: A wonderful gift to be sure! Let's hope some of this goes to restoring and protecting their BEDT #16 0-6-0 and their RS3 #1556, as well as G5s #39. I'm really glad the gentleman found a way to benefit railroad preservation. The article mentions that $100,000 went to work on "a steam locomotive." I can only assume that means #39 |
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| Author: | n2qhvRMLI [ Sat May 02, 2015 12:01 am ] |
| Post subject: | Re: A very nice gift to the Railroad Museum of Long Island! |
Gentle Forum Members, Thank you for the kind words and thoughts. The Railroad Museum of Long Island was and is honored to be remembered by Mr. Walter H. Milne in this way. The breakdown of the bequest, as directed by the Board of Trustees, follows: $103,000.00 to the "Steam up LIRR 39" restoration fund. (The fund stands at $128,453.10 today. Our final goal is $1,000,000.00 and donations continue to come in.) In August 2014 the "Railroad Museum of Long Island Endowment" was officially created and $205,000.00 was distributed into the endowment. Since August, RMLI members and friends of the Museum have also donated to the endowment. At this time we are allowing the endowment to grow with a mission to one day use the dividends for "recurring operating costs," such as fuel, electric, insurance etc. $50,000.00 has been placed in an escrow account to be used as a cushion or emergency fund. (Say we lost a heating plant before our public season began - when our operating budget is usually at its lowest. This account would be used to purchase and install a replacement heating plant.) $155,000.00 has been put toward a capital projects plan that includes, but is not limited to: * new thermal windows in the second floor of the Visitors Center, Riverhead RMLI (done) * HVAC for the Archive Library and second floor of the Visitors Center (pending) * the cost of placing BEDT 16 back on her drive wheels (done) * restoring Defiance Coal H.K. Porter No. 1 and its road trailer back to operation as a teaching tool, operating steam exhibit and fundraising ambassador for "Steam up LIRR 39" (in progress, anticipated completion August 2015) * purchase and installation of American Colloid #759 insulated boxcar at Greenport RMLI for immediate storage and future video theatre/freight exhibit (done) * welding and steel work on GE 12 ton switcher #399 (pending) * replacement of the service ramp into B-62 Tool/Baggage Car #7723 (done) * replacement of failed sliding doors on the south and east sides of the Freeman North Exhibit Hall (done) * purchase of a good, used, one ton utility truck with 9' snowplow (in progress, anticipated completion June 2015) * fabrication and installation of new window inserts in LIRR/ALCOA bi-level passenger car #200 and exterior painting (pending) All of these capital projects have been on the Museum's "drawing board" for some time and the bequest has allowed us to accomplish them in a timely fashion that we could not imagine under normal seasonal cash flow limitations. This is a wonderful year for the Museum and we sincerely thank Mr. Walter H. Milne, a past member of the RMLI, for his confidence in our volunteers and his belief in the continuing work of his Museum. Thank you again for your kind thoughts, Don Fisher, President To Richard Glueck: cosmetic restoration of BEDT 16 continues, exterior painting is next; RS3 1556 will remain "stuffed and mounted" and is due for some FRA glazing replacement and regular painting maintenance. There are no plans to bring these two engines into operating condition. |
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| Author: | Richard Glueck [ Sat May 02, 2015 9:56 am ] |
| Post subject: | Re: A very nice gift to the Railroad Museum of Long Island! |
I think you've proven you have an excellent compendium of projects, Don. Glad to see the #16 back on drivers and other care being given the RS3. I'm certain Mr. Milne is happy with the results. |
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| Author: | n2qhvRMLI [ Sat May 02, 2015 12:06 pm ] |
| Post subject: | Re: A very nice gift to the Railroad Museum of Long Island! |
Richard, and all, To keep some of the larger projects in perspective, a few images:  Defiance Coal H.K. Porter No. 1, "The Roy Dunwell"  Loading for the trip to Strasburg, July 2014  Offloading at Strasburg for restoration  BEDT 16 picked for driver replacement, March 2014  Easy does it!  Waiting for paint . . . . . . . . Thank you for your interest. Please watch our website: http://www.rmli.org or "like" and follow us on one of our four Facebook pages. Don |
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| Author: | philip.marshall [ Sat May 02, 2015 11:59 pm ] |
| Post subject: | Re: A very nice gift to the Railroad Museum of Long Island! |
Congratulations! This is great news. I'm excited to hear about the money being set aside for 39 and the various capital projects (both equipment and structures), but the establishment of an endowment is the real story here, and will go far to assure the future of RMLI and its collection. In my opinion, an endowment is really a necessity for any non-profit that wants to continue beyond the current generation of members, and this is especially true for museums. -Philip Marshall |
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| Author: | n2qhvRMLI [ Sun May 03, 2015 8:53 am ] |
| Post subject: | Re: A very nice gift to the Railroad Museum of Long Island! |
Thank you Phillip, Yes, we agree!! The endowment, and we are encouraging donations and future member bequests to be directed to it, will sustain the Museum long into the future. This planning and our active work with young people, getting them interested in railroading, railroad history, mechanics and skill sets is the Museum doing our little part to keep rail preservation moving forward. Thanks again for your interest and support! Don |
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