Form 990 for tax year 2024
Filed by LABORERS 563 BUILDING CORPORATION.
Totals
- Total revenue
- $769,595
- Total expenses
- $809,460
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $100,717
- Investment income
- $684,532
- Other revenue
- -$15,654
- Total assets, end of year
- $14,211,030
- Total liabilities, end of year
- $2,957,803
- Net assets or fund balances, end of year
- $11,253,227
- Program services expenses (Part IX)
- $0
- Management and general expenses
- $0
- Fundraising expenses
- $0
- Program service expenses (Part III)
- not reported
Program services were 0.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
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: REGULAR DUES
total $100,717 · related or exempt $100,717
-
3 · Investment income
total $416 · excluded $416
-
6a · Gross rents
real property $22,140
-
6b · Less rental expenses
real property $69,229
-
6c · Rental income or loss
real property -$47,089
-
6d · Net rental income or loss
total -$47,089 · excluded -$47,089
-
7a · Gross sales of assets other than inventory
other assets $1,117,631
-
7b · Less cost or other basis and sales expenses
other assets $433,515
-
7c · Gain or loss
other assets $684,116
-
7d · Net gain or loss
total $684,116 · excluded $684,116
-
11a · Other revenue: 12TH AVE PARKING LOT
total $31,435 · unrelated business $31,435
-
11e · Other revenue, total
$31,435
Functional expenses
Part IX, the statement of functional expenses.
-
11b · Fees: legal
total $1,959
-
16 · Occupancy
total $323,150
-
20 · Interest
total $173,987
-
22 · Depreciation, depletion and amortization
total $270,115
-
24a · Other expenses: MISCELLANEOUS
total $40,090
-
24b · Other expenses: BANK FEES
total $159
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $1,576,062 · end of year $957,206
-
7 · Other notes and loans receivable
beginning of year $335 · end of year $784
-
10a · Land, buildings and equipment: cost or other basis
$13,962,412
-
10b · Land, buildings and equipment: accumulated depreciation
$709,372
-
10c · Land, buildings and equipment, net
beginning of year $12,700,457 · end of year $13,253,040
-
23 · Secured mortgages and notes payable
beginning of year $2,483,762 · end of year $2,957,803
-
27 · Net assets without donor restrictions
beginning of year $11,793,092 · end of year $11,253,227
Mission and programs · 2024
Mission
THE BUILDING CORPORATION OWNS THE BUILDING WHICH IS THE HEADQUARTERS FOR LOCAL UNION 563, WHOSE PURPOSE IS TO SUPPORT WORKERS FOR THE ECONOMIC, MORAL AND SOCIAL ADVANCEMENT OF THEIR CONDITION AND STATUS.
-
TO OWN AND OPERATE THE BUILDING FOR LOCAL 563 - A UNION WHOSE PURPOSE IS TO SUPPORT WORKERS FOR THE ECONOMIC, MORAL AND SOCIAL ADVANCEMENT OF THEIR CONDITION AND STATUS.
As filed on the 2024 return.
Listed in Part VII
-
Joe FowlerJOE FOWLER
BUSINESS MAN
- Total calculated
- $255,204
- From this org
- $0
- From related orgs
- $195,979
- Other
- $59,225
- Hours/week
- 1 + 40 related
Schedule J breakdown matched by us
- Base
- not reported + $195,979 related
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported + $37,941 related
- Nontaxable benefits
- not reported + $21,284 related
- Filer's total
- not reported + $255,204 related
-
Daniel BradyDANIEL BRADY
FIN SEC/TREA
- Total calculated
- $242,473
- From this org
- $0
- From related orgs
- $185,068
- Other
- $57,405
- Hours/week
- 1 + 40 related
Schedule J breakdown matched by us
- Base
- not reported + $185,068 related
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported + $36,121 related
- Nontaxable benefits
- not reported + $21,284 related
- Filer's total
- not reported + $242,473 related
-
Keith PetersenKEITH PETERSEN
ASST BUSINES
- Total calculated
- $217,719
- From this org
- $0
- From related orgs
- $163,793
- Other
- $53,926
- Hours/week
- 1 + 40 related
Schedule J breakdown matched by us
- Base
- not reported + $163,793 related
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported + $32,642 related
- Nontaxable benefits
- not reported + $21,284 related
- Filer's total
- not reported + $217,719 related
-
Nicholas SlavicekNICHOLAS SLAVICEK
DIRECTOR OF
- Total calculated
- $209,722
- From this org
- $0
- From related orgs
- $156,773
- Other
- $52,949
- Hours/week
- 1 + 40 related
Schedule J breakdown matched by us
- Base
- not reported + $156,773 related
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported + $31,665 related
- Nontaxable benefits
- not reported + $21,284 related
- Filer's total
- not reported + $209,722 related
-
Stacey KarelsSTACEY KARELS
BUSINESS AGE
- Total calculated
- $201,607
- From this org
- $0
- From related orgs
- $149,805
- Other
- $51,802
- Hours/week
- 1 + 40 related
Schedule J breakdown matched by us
- Base
- not reported + $149,805 related
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported + $30,518 related
- Nontaxable benefits
- not reported + $21,284 related
- Filer's total
- not reported + $201,607 related
-
Troy CoxTROY COX
BUSINESS AGE
- Total calculated
- $197,402
- From this org
- $0
- From related orgs
- $146,330
- Other
- $51,072
- Hours/week
- 1 + 40 related
Schedule J breakdown matched by us
- Base
- not reported + $146,330 related
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported + $29,788 related
- Nontaxable benefits
- not reported + $21,284 related
- Filer's total
- not reported + $197,402 related
-
Todd SorterTODD SORTER
BUSINESS AGE
- Total calculated
- $196,897
- From this org
- $0
- From related orgs
- $145,861
- Other
- $51,036
- Hours/week
- 1 + 40 related
Schedule J breakdown matched by us
- Base
- not reported + $145,861 related
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported + $29,752 related
- Nontaxable benefits
- not reported + $21,284 related
- Filer's total
- not reported + $196,897 related
-
Kory KreagerKORY KREAGER
FMR AUDITOR
- Total calculated
- $104,889
- From this org
- $0
- From related orgs
- $62,805
- Other
- $42,084
- Hours/week
- 0.5 + 0.5 related
-
Mark AsherMARK ASHER
PRESIDENT
- Total calculated
- $4,900
- From this org
- $0
- From related orgs
- $4,900
- Other
- $0
- Hours/week
- 1 + 3 related
-
Dean MillsDEAN MILLS
VICE PRESIDE
- Total calculated
- $4,675
- From this org
- $0
- From related orgs
- $4,675
- Other
- $0
- Hours/week
- 1 + 2 related
-
Todd MutchTODD MUTCH
RECORDING SE
- Total calculated
- $4,675
- From this org
- $0
- From related orgs
- $4,675
- Other
- $0
- Hours/week
- 1 + 2 related
-
Octavio ChungOCTAVIO CHUNG
BOARD MEMBER
- Total calculated
- $4,400
- From this org
- $0
- From related orgs
- $4,400
- Other
- $0
- Hours/week
- 1 + 2 related
-
Laurie JohnsonLAURIE JOHNSON
FMR PRESIDEN
- Total calculated
- $3,000
- From this org
- $0
- From related orgs
- $3,000
- Other
- $0
- Hours/week
- 1 + 3 related
-
Gwen CookGWEN COOK
BOARD MEMBER
- Total calculated
- $2,600
- From this org
- $0
- From related orgs
- $2,600
- Other
- $0
- Hours/week
- 1 + 2 related
-
Carolyn WoodCAROLYN WOOD
AUDITOR
- Total calculated
- $2,463
- From this org
- $0
- From related orgs
- $2,463
- Other
- $0
- Hours/week
- 0.5 + 0.5 related
-
Kris KleinKRIS KLEIN
SERGEANT-AT-
- Total calculated
- $2,200
- From this org
- $0
- From related orgs
- $2,200
- Other
- $0
- Hours/week
- 1 + 1 related
-
John Kappedahl-O'BrienJOHN KAPPEDAHL-O'BRIEN
AUDITOR
- Total calculated
- $935
- From this org
- $0
- From related orgs
- $935
- Other
- $0
- Hours/week
- 0.5 + 0.5 related
-
Carly WordelmanCARLY WORDELMAN
AUDITOR
- Total calculated
- $800
- From this org
- $0
- From related orgs
- $800
- Other
- $0
- Hours/week
- 0.5 + 0.5 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.
-
CONSTRUCTION AND GENERAL LABORERS UNION LOCAL 563
501C5 · USES BUILD · MN
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 20 October 2025
- IRS schema version
- 2024v5.0
- Source object
- 202502939349300765
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