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Nonprofiteer
← 2 26 50TH AVENUE REAL ESTATE CO INC

Form 990 for tax year 2022

Filed by 2 26 50TH AVENUE REAL ESTATE CO INC.

Totals

Total revenue
$678,121
Total expenses
$666,847
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$678,121
Investment income
$0
Other revenue
$0
Total assets, end of year
$4,835,790
Total liabilities, end of year
$4,822,200
Net assets or fund balances, end of year
$13,590
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.

  • 2a · Program service revenue: RENTAL INCOME

    total $678,121 · unrelated business $678,121

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $455,107

  • 11b · Fees: legal

    total $11,038

  • 11c · Fees: accounting

    total $1,728

  • 13 · Office expenses

    total $1,387

  • 16 · Occupancy

    total $41,720

  • 22 · Depreciation, depletion and amortization

    total $146,154

  • 23 · Insurance

    total $7,366

  • 24a · Other expenses: SECURITY

    total $2,347

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $603,438 · end of year $321,336

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

    $5,691,644

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

    $1,177,190

  • 10c · Land, buildings and equipment, net

    beginning of year $4,660,609 · end of year $4,514,454

  • 17 · Accounts payable and accrued expenses

    beginning of year $8,240 · end of year $18,709

  • 25 · Other liabilities

    beginning of year $5,253,491 · end of year $4,803,491

  • 27 · Net assets without donor restrictions

    beginning of year $2,316 · end of year $13,590

Mission and programs · 2022

Mission

TO OWN AND LEASE TO A THIRD PARTY OPERATOR THE TWO STORY PARKING GARAGE LOT LOCATED AT 2-26 50TH AVENUE, LONG ISLAND CITY, NEW YORK, ON BEHALF OF THE PLUMBERS LOCAL UNION NO. 1. THE UNION IS A LABOR ORGANIZATION EXEMPT FROM TAXATION UNDER SECTION 501(C)(5) OF THE INTERNAL REVENUE CODE.

  • TO OWN AND LEASE TO A THIRD PARTY OPERATOR THE TWO STORY PARKING GARAGE LOT LOCATED AT 2-26 50TH AVENUE, LONG ISLAND CITY, NEW YORK, ON BEHALF OF THE PLUMBERS LOCAL UNION NO. 1. THE UNION IS A LABOR ORGANIZATION EXEMPT FROM TAXATION UNDER SECTION 501(C)(5) OF THE INTERNAL REVENUE CODE.

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Michael Apuzzo

    PRESIDENT

    Total calculated
    $366,949
    From this org
    $0
    From related orgs
    $239,134
    Other
    $127,815
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $239,134 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $89,041 related
    Nontaxable benefits
    $0 + $38,774 related
    Filer's total
    $0 + $366,949 related

  • Paul O'Connor

    SECRETARY TREASURER

    Total calculated
    $333,663
    From this org
    $0
    From related orgs
    $210,771
    Other
    $122,892
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $210,771 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $84,118 related
    Nontaxable benefits
    $0 + $38,774 related
    Filer's total
    $0 + $333,663 related

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

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

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

No itemized grants to organizations on this return.

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.

Provenance

Return type
form_990
Tax year
2022
Filed
10 July 2023
IRS schema version
2022v5.0
Source object
202341919349301719

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