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Nonprofiteer
← 52 BROADWAY REALTY CORP

Form 990 for tax year 2022

Filed by 52 BROADWAY REALTY CORP.

Totals

Total revenue
$13,595,227
Total expenses
$24,890,907
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$12,466,101
Investment income
$231,649
Other revenue
$897,477
Total assets, end of year
$136,293,468
Total liabilities, end of year
$154,799,674
Net assets or fund balances, end of year
-$18,506,206
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 $8,325,960 · related or exempt $8,325,960

  • 2b · Program service revenue: REIMBURSEMENTS FROM TENANTS

    total $4,140,141 · related or exempt $4,140,141

  • 3 · Investment income

    total $231,649 · excluded $231,649

  • 11a · Other revenue: DISTRIBUTIONS FROM INVESTMENT IN

    total $897,477 · related or exempt $897,477

  • 11e · Other revenue, total

    $897,477

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $168,660

  • 11b · Fees: legal

    total $9,810

  • 11c · Fees: accounting

    total $19,357

  • 11g · Fees: other

    total $101,776

  • 16 · Occupancy

    total $17,425,506

  • 20 · Interest

    total $177,917

  • 22 · Depreciation, depletion and amortization

    total $1,388,528

  • 23 · Insurance

    total $299,917

  • 24a · Other expenses: CLEANING AND RUBISH REM

    total $2,356,435

  • 24b · Other expenses: ALLOCATED SALARIES,BENE

    total $1,240,368

  • 24c · Other expenses: REPAIRS AND MAINTENANCE

    total $765,729

  • 24d · Other expenses: SECURITY SERVICE

    total $706,707

  • 24e · All other expenses

    total $230,197

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,555,705 · end of year $1,525,798

  • 2 · Savings and temporary cash investments

    beginning of year $25,124 · end of year $1,475

  • 4 · Accounts receivable

    beginning of year $1,028,121 · end of year $1,124,192

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,121,897 · end of year $2,348,225

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

    $36,994,970

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

    $18,301,361

  • 10c · Land, buildings and equipment, net

    beginning of year $19,229,862 · end of year $18,693,609

  • 15 · Other assets

    beginning of year $24,395,721 · end of year $112,600,169

  • 17 · Accounts payable and accrued expenses

    beginning of year $893,147 · end of year $1,179,994

  • 19 · Deferred revenue

    beginning of year $755,319 · end of year $559,306

  • 25 · Other liabilities

    beginning of year $63,825,642 · end of year $153,060,374

  • 29 · Capital stock, trust principal or current funds

    beginning of year $1 · end of year $1

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year -$17,117,679 · end of year -$18,506,207

Mission and programs · 2022

Mission

WAS ORGANIZED FOR THE PURPOSE OF ENTERING INTO A LONG-TERM NET LEASE OF LAND AND BUILDING LOCATED AT 52 BROADWAY, NEW YORK, NY, ON BEHALF OF THE UNITED FEDERATION OF TEACHERS, LOCAL 2.

Activities or mission (Part I)

WAS ORGANIZED FOR THE PURPOSE OF ENTERING INTO A LONG-TERM NET LEASE OF LAND AND BUILDING LOCATED AT 52 BROADWAY, NEW YORK, NY ON BEHALF OF UNITED FEDERATION OF TEACHERS, LOCAL 2.

  • GROSS EXPENSES INCURRED BY THE CORPORATION FOR THE PURPOSE OF ENTERING INTO A LONG-TERM NET LEASE OF LAND AND BUILDING FOR AN EXEMPT ORGANIZATION.

As filed on the 2022 return.

Listed in Part VII

  • Michael Mulgrew

    PRESIDENT

    Total calculated
    $388,142
    From this org
    $0
    From related orgs
    $327,736
    Other
    $60,406
    Hours/week
    1 + 38 related

    Schedule J breakdown matched by us

    Base
    $0 + $321,430 related
    Bonus
    $0
    Other
    $0 + $6,306 related
    Deferred
    $0 + $48,207 related
    Nontaxable benefits
    $0 + $12,199 related
    Filer's total
    $0 + $388,142 related

  • Debra Penny

    TREASURER

    Total calculated
    $142,800
    From this org
    $0
    From related orgs
    $114,240
    Other
    $28,560
    Hours/week
    1 + 33 related

  • Leroy Barr

    SECRETARY

    Total calculated
    $281,194
    From this org
    $0
    From related orgs
    $225,870
    Other
    $55,324
    Hours/week
    1 + 38 related

    Schedule J breakdown matched by us

    Base
    $0 + $225,870 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $26,231 related
    Nontaxable benefits
    $0 + $29,093 related
    Filer's total
    $0 + $281,194 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.

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • 50-52 BROADWAY LLC

    HOLDING OWNERSHIP OF NOT-FOR-PROFIT REAL ESTATE · NY · income -$8,884 · assets $22,535,855

    Directly controlled by UNITED FEDERATION OF TEACHERS LOCAL 2

Related corporations and trusts

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

  • UFT MEMORIALS INC

    C · PURCHASE PLOTS FROM CEMETARY ORGS AND MAKES SUCH PLOTS AVAILABLE TO MEMBERS · NY

    Directly controlled by UNITED FEDERATION OF TEACHERS

Provenance

Return type
form_990
Tax year
2022
Filed
12 May 2024
IRS schema version
2022v5.0
Source object
202411659349301006

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