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Nonprofiteer
← LOCAL NO 1 REALTY CORP

Form 990 for tax year 2025

Filed by LOCAL NO 1 REALTY CORP.

Totals

Total revenue
$1,153,916
Total expenses
$688,803
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$1,125,129
Investment income
$28,259
Other revenue
$528
Total assets, end of year
$5,494,880
Total liabilities, end of year
$45,288
Net assets or fund balances, end of year
$5,449,592
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 $1,096,324 · related or exempt $1,096,324

  • 2b · Program service revenue: ASSESSMENTS

    total $28,805 · related or exempt $28,805

  • 3 · Investment income

    total $28,259 · excluded $28,259

  • 11a · Other revenue: VENDING MACHINE

    total $528 · related or exempt $528

  • 11e · Other revenue, total

    $528

Functional expenses

Part IX, the statement of functional expenses.

  • 13 · Office expenses

    total $186

  • 16 · Occupancy

    total $395,923

  • 22 · Depreciation, depletion and amortization

    total $292,297

  • 24a · Other expenses: VENDING MACHINE ITEMS

    total $397

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,093,481 · end of year $606,513

  • 2 · Savings and temporary cash investments

    beginning of year $720,396 · end of year $1,567,853

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

    $8,378,852

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

    $5,058,338

  • 10c · Land, buildings and equipment, net

    beginning of year $3,440,890 · end of year $3,320,514

  • 25 · Other liabilities

    beginning of year $270,288 · end of year $45,288

  • 27 · Net assets without donor restrictions

    beginning of year $4,984,479 · end of year $5,449,592

Mission and programs · 2025

Mission

TO ACQUIRE AND HOLD TITLE TO REAL PROPERTY ON BEHALF OF LOCAL 1 ELEVATOR CONSTRUCTORS UNION OF NEW YORK CITY AND VICINITY, TO COLLECT THE INCOME FROM SUCH REAL PROPERTY, TO PAY THE EXPENSES OF OPERATING AND MAINTAINING SUCH REAL PROPERTY AND TO TURN OVER AMOUNTS AS PROPER TO LOCAL UNION NO. 1.

  • LOCAL 1 REALTY CORP'S EXEMPT PURPOSE IS TO ACQUIRE AND HOLD TITLE TO REAL PROPERTY ON BEHALF OF LOCAL NO. 1 ELEVATOR CONSTRUCTORS UNION OF NEW YORK CITY AND VICINITY, TO COLLECT THE INCOME FROM SUCH REAL PROPERTY, TO PAY THE EXPENSES OF OPERATING AND MAINTAINING SUCH REAL PROPERTY AND TO TURN OVER AMOUNTS AS PROPER TO LOCAL UNION NO. 1.

As filed on the 2025 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Leonard Legotte

    PRESIDENT

    Total calculated
    $459,086
    From this org
    $0
    From related orgs
    $346,097
    Other
    $112,989
    Hours/week
    1 + 55 related

    Schedule J breakdown matched by us

    Base
    $0 + $346,097 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $72,375 related
    Nontaxable benefits
    $0 + $40,614 related
    Filer's total
    $0 + $459,086 related

  • Michael Riegger

    SECRETARY-TREASURER

    Total calculated
    $408,175
    From this org
    $0
    From related orgs
    $294,962
    Other
    $113,213
    Hours/week
    1 + 56 related

    Schedule J breakdown matched by us

    Base
    $0 + $284,351 related
    Bonus
    $0
    Other
    $0 + $10,611 related
    Deferred
    $0 + $72,575 related
    Nontaxable benefits
    $0 + $40,638 related
    Filer's total
    $0 + $408,175 related

  • Denis Kilduff

    TRUSTEE

    Total calculated
    $396,899
    From this org
    $0
    From related orgs
    $283,686
    Other
    $113,213
    Hours/week
    1 + 55 related

    Schedule J breakdown matched by us

    Base
    $0 + $283,686 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $72,575 related
    Nontaxable benefits
    $0 + $40,638 related
    Filer's total
    $0 + $396,899 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
2025
Filed
8 May 2026
IRS schema version
2025v4.1
Source object
202621319349305652

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