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← ASSOCIATION OF AMERICAN RAILROADS

Form 990 for tax year 2024

Filed by ASSOCIATION OF AMERICAN RAILROADS.

Totals

Total revenue
$70,167,327
Total expenses
$68,311,159
Contributions and grants received
$156,978
Grants paid
$1,933,604
Program service revenue
$65,927,672
Investment income
$651,028
Other revenue
$3,431,649
Total assets, end of year
$52,287,380
Total liabilities, end of year
$32,110,896
Net assets or fund balances, end of year
$20,176,484
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $156,978

  • 1g · Noncash contributions included above

    $156,978

  • 2a · Program service revenue: MEMBERSHIP DUES

    total $51,301,020 · related or exempt $51,301,020

  • 2b · Program service revenue: INDUSTRY SUPPORT

    total $9,769,425 · related or exempt $9,769,425

  • 2c · Program service revenue: USER FEES

    total $3,945,802 · related or exempt $3,945,802

  • 2d · Program service revenue: LICENSING

    total $457,193 · related or exempt $457,193

  • 2e · Program service revenue: PUBLICATIONS

    total $178,415 · related or exempt $178,415

  • 2f · All other program service revenue

    total $275,817 · related or exempt $275,817

  • 3 · Investment income

    total $634,433 · excluded $634,433

  • 6a · Gross rents

    real property $26,518

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $26,518

  • 6d · Net rental income or loss

    total $26,518 · excluded $26,518

  • 7a · Gross sales of assets other than inventory

    securities $419,105

  • 7b · Less cost or other basis and sales expenses

    securities $399,644 · other assets $2,866

  • 7c · Gain or loss

    securities $19,461 · other assets -$2,866

  • 7d · Net gain or loss

    total $16,595 · excluded $16,595

  • 11a · Other revenue: INTERCO COST SHARE

    total $3,039,419 · related or exempt $3,039,419

  • 11b · Other revenue: OTHER REVENUE

    total $310,790 · excluded $310,790

  • 11c · Other revenue: MBRSHP DIRECTORY AD

    total $54,922 · unrelated business $54,922

  • 11e · Other revenue, total

    $3,405,131

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,933,604

  • 5 · Compensation of officers, directors and key employees

    total $5,906,493

  • 7 · Other salaries and wages

    total $10,836,007

  • 8 · Pension plan contributions

    total $1,295,025

  • 9 · Other employee benefits

    total $1,523,591

  • 10 · Payroll taxes

    total $1,697,952

  • 11b · Fees: legal

    total $2,748,271

  • 11c · Fees: accounting

    total $128,538

  • 11d · Fees: lobbying

    total $1,695,537

  • 11g · Fees: other

    total $11,261,648

  • 12 · Advertising and promotion

    total $2,902,779

  • 13 · Office expenses

    total $45,231

  • 14 · Information technology

    total $451,984

  • 16 · Occupancy

    total $2,248,588

  • 17 · Travel

    total $835,418

  • 19 · Conferences, conventions and meetings

    total $145,969

  • 22 · Depreciation, depletion and amortization

    total $468,231

  • 23 · Insurance

    total $264,284

  • 24a · Other expenses: INTERCOMPANY EXPENSES

    total $21,041,244

  • 24b · Other expenses: DUES & SUBSCRIPTIONS

    total $461,824

  • 24c · Other expenses: INCOME TAX/DEFERRED TAX

    total $349,217

  • 24e · All other expenses

    total $69,724

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $10,321,484 · end of year $11,692,464

  • 4 · Accounts receivable

    beginning of year $1,023,370 · end of year $1,397,867

  • 9 · Prepaid expenses and deferred charges

    beginning of year $643,430 · end of year $478,692

  • 10a · Land, buildings and equipment: cost or other basis

    $8,211,401

  • 10b · Land, buildings and equipment: accumulated depreciation

    $4,971,780

  • 10c · Land, buildings and equipment, net

    beginning of year $649,953 · end of year $3,239,621

  • 11 · Investments: publicly traded securities

    beginning of year $779,796 · end of year $820,354

  • 12 · Investments: other securities

    beginning of year $19,382,254 · end of year $19,539,232

  • 15 · Other assets

    beginning of year $15,949,119 · end of year $15,119,150

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,778,836 · end of year $2,716,122

  • 19 · Deferred revenue

    beginning of year $1,650,245 · end of year $1,557,921

  • 21 · Escrow or custodial account liability

    beginning of year $609,999 · end of year $620,403

  • 25 · Other liabilities

    beginning of year $28,110,944 · end of year $27,216,450

  • 27 · Net assets without donor restrictions

    beginning of year $14,599,382 · end of year $20,176,484

Mission and programs · 2024

Mission

AAR PROMOTES A SAFE AND EFFICIENT NORTH AMERICAN RAIL SYSTEM WITH PRINCIPAL ACTIVITIES IN AREAS SUCH AS STANDARDS, OPERATIONS, SAFETY, SECURITY, PUBLIC AFFAIRS AND PUBLIC POLICY.

Activities or mission (Part I)

TO PROMOTE THE COMMON INTERESTS OF RAILROADS.

  • STRATEGIC RESEARCH INITIATIVES (SRI):THE SRI PROGRAM FOCUSES ON RESEARCH THAT WILL MAKE RAIL TRANSPORTATION SAFER, MORE EFFICIENT, AND MORE RELIABLE. THE CURRENT SRI PROGRAM INCLUDES PROJECTS ADDRESSING SIGNALS, TRAIN CONTROL, AUTOMATED OPERATIONS, TRACK, BRIDGES, AND RAIL CAR COMPONENTS SUCH AS WHEELS, BRAKES, AND COUPLERS.

  • INTEGRATED COMMUNICATIONS CAMPAIGN:A PROGRAM OF MEDIA OUTREACH, PUBLIC AFFAIRS, ADVERTISING, AND CONTENT DEVELOPMENT THAT FOCUSES ON (1) HOW THE FREIGHT RAIL INDUSTRY CONSISTENTLY AND EFFICIENTLY DELIVERS ECONOMIC AND ENVIRONMENTAL BENEFITS TO AMERICANS, (2) HOW RAILROADS USE MODERN TECHNOLOGY TO IMPROVE SAFETY AND PROVIDE PUBLIC BENEFITS INCLUDING A SAFE, FUEL EFFICIENT WAY TO MOVE GOODS AND CONNECT US TO THE GLOBAL ECONOMY, AND (3) PRESERVING BALANCED REGULATION OF THE FREIGHT RAIL INDUSTRY.

  • PRESERVING BALANCED REGULATION:A PROGRAM TO PROMOTE THE BALANCED REGULATORY STRUCTURE REQUIRED TO ALLOW RAILROADS THE OPPORTUNITY TO ACHIEVE A REASONABLE RATE OF RETURN AND TO CONTINUE THEIR SUBSTANTIAL INVESTMENT IN THE NORTH AMERICAN RAIL NETWORK. SUCH REINVESTMENT IS CRITICAL IF RAILROADS ARE TO BE ABLE TO ADDRESS THE CAPACITY CHALLENGES THAT INCREASED RAIL DEMAND FOR TRANSPORTATION BRINGS.

As filed on the 2024 return.

Listed in Part VII

  • Keith Creel

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Kathryn M Farmer

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Joe Hinrichs

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Tracy Robinson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Alan Shaw

    DIRECTOR (UNTIL 9/15/2024)

    Total calculated
    $0
    Hours/week
    1

  • Michael Miller

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jim Vena

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • William O'Leary

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mark George

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Dan Smith

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Ian N Jefferies

    PRESIDENT, CEO

    Total calculated
    $2,776,996
    From this org
    $2,688,223
    From related orgs
    $0
    Other
    $88,773
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $1,451,976
    Bonus
    $1,053,000
    Other
    $183,247
    Deferred
    $33,416
    Nontaxable benefits
    $61,459
    Filer's total
    $2,783,098

  • Paul R Hedrick

    SVP-FIN, ADMIN & CFO

    Total calculated
    $683,758
    From this org
    $610,786
    From related orgs
    $0
    Other
    $72,972
    Hours/week
    39 + 1 related

    Schedule J breakdown matched by us

    Base
    $440,596
    Bonus
    $163,249
    Other
    $6,941
    Deferred
    $28,119
    Nontaxable benefits
    $50,768
    Filer's total
    $689,673

  • Edward A Kendall Jr

    CORPORATE SECRETARY

    Total calculated
    $355,817
    From this org
    $295,021
    From related orgs
    $0
    Other
    $60,796
    Hours/week
    38 + 2 related

    Schedule J breakdown matched by us

    Base
    $255,864
    Bonus
    $38,220
    Other
    $937
    Deferred
    $17,640
    Nontaxable benefits
    $46,865
    Filer's total
    $359,526

  • Kathryn D Kirmayer

    SVP-LAW & GENERAL COUNSEL

    Total calculated
    $822,708
    From this org
    $760,778
    From related orgs
    $0
    Other
    $61,930
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $523,607
    Bonus
    $190,998
    Other
    $46,173
    Deferred
    $32,687
    Nontaxable benefits
    $35,345
    Filer's total
    $828,810

  • Michael J Rush

    SVP-SAFETY & OPERATIONS

    Total calculated
    $641,348
    From this org
    $603,536
    From related orgs
    $0
    Other
    $37,812
    Hours/week
    38 + 2 related

    Schedule J breakdown matched by us

    Base
    $432,438
    Bonus
    $157,150
    Other
    $13,948
    Deferred
    $33,817
    Nontaxable benefits
    $5,949
    Filer's total
    $643,302

  • Kristin A Smith

    SVP-COMMUNICATIONS

    Total calculated
    $596,363
    From this org
    $513,810
    From related orgs
    $0
    Other
    $82,553
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $373,362
    Bonus
    $138,117
    Other
    $2,331
    Deferred
    $43,017
    Nontaxable benefits
    $45,259
    Filer's total
    $602,086

  • Adrian Arnakis

    SVP-GOVERNMENT AFFAIRS

    Total calculated
    $736,552
    From this org
    $675,478
    From related orgs
    $0
    Other
    $61,074
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $493,039
    Bonus
    $180,728
    Other
    $1,711
    Deferred
    $29,543
    Nontaxable benefits
    $37,641
    Filer's total
    $742,662

  • Rand Ghayad

    SVP-POLICY & ECONOMICS

    Total calculated
    $478,285
    From this org
    $411,415
    From related orgs
    $0
    Other
    $66,870
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $293,511
    Bonus
    $117,300
    Other
    $604
    Deferred
    $25,697
    Nontaxable benefits
    $46,203
    Filer's total
    $483,315

  • Stephen Gordon

    ASSOCIATE GENERAL COUNSEL

    Total calculated
    $387,853
    From this org
    $362,254
    From related orgs
    $0
    Other
    $25,599
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $300,985
    Bonus
    $58,240
    Other
    $3,029
    Deferred
    $25,599
    Nontaxable benefits
    $3,916
    Filer's total
    $391,769

  • John Miller

    ASSOCIATE GENERAL COUNSEL

    Total calculated
    $443,928
    From this org
    $367,340
    From related orgs
    $0
    Other
    $76,588
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $302,123
    Bonus
    $60,320
    Other
    $4,897
    Deferred
    $27,856
    Nontaxable benefits
    $52,237
    Filer's total
    $447,433

  • William C Thompson

    PROGRAM MANAGER

    Total calculated
    $467,599
    From this org
    $385,880
    From related orgs
    $0
    Other
    $81,719
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $295,414
    Bonus
    $58,704
    Other
    $31,762
    Deferred
    $45,179
    Nontaxable benefits
    $38,624
    Filer's total
    $469,683

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · Housing allowance or residence for personal use
  • 1a · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

PART I, LINE 1A
TAXABLE HOUSING ALLOWANCE: WILLIAM C THOMPSON $14,275 NONTAXABLE SOCIAL CLUB DUES: IAN JEFFRIES $11,427; WILLIAM C. THOMPSON $228
PART I, LINE 4B
EMPLOYEES LISTED BELOW RECEIVED A PAYMENT FROM A SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN DURING THE CALENDAR YEAR 2024. THIS AMOUNT IS REPORTED IN SCHEDULE J, PART II, COLUMN B(III). IAN JEFFERIES, PRESIDENT, CEO AND DIRECTOR $176,063 KATHRYN D. KIRMAYER, SVP $35,000

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

The 10 largest by cash amount. The API serves every itemized grant.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • AAR RETIREE LIFE INSURANCE TRUST

    501(C)(9) · PROVIDES RETIREE LIFE INSURANCE TO PLAN PARTICIPANTS · DC · controlled entity

    Directly controlled by ASSOCIATION OF AMERICAN RAILROADS

  • MXV LEARNING INSTITUTE

    501(C)(3) · RESEARCH · DE · controlled entity

    Directly controlled by ASSOCIATION OF AMERICAN RAILROADS

  • RAILPAC

    527 · POLITICAL ACTIVITIES · DC · controlled entity

    Directly controlled by ASSOCIATION OF AMERICAN RAILROADS

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • TRANSPORTATION TECHNOLOGY CENTER INC

    C · RESEARCH & TESTING · DE · 100% owned · share of income $37,841,784 · share of assets $81,180,070 · controlled entity

    Directly controlled by ASSOCIATION OF AMERICAN RAILROADS

  • RAILINC CORPORATION

    C · IT & SVCS · DE · 100% owned · share of income $92,053,998 · share of assets $75,171,586 · controlled entity

    Directly controlled by ASSOCIATION OF AMERICAN RAILROADS

Provenance

Return type
form_990
Tax year
2024
Filed
11 November 2025
IRS schema version
2024v5.2
Source object
202523159349304457

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