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Nonprofiteer
← ARDEON REALTY CORP

Form 990 for tax year 2024

Filed by ARDEON REALTY CORP.

Totals

Total revenue
$4,856,068
Total expenses
$226
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$4,751,328
Investment income
$104,740
Other revenue
$0
Total assets, end of year
$27,830,542
Total liabilities, end of year
$397,888
Net assets or fund balances, end of year
$27,432,654
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 $4,751,328 · related or exempt $4,751,328

  • 3 · Investment income

    total $104,740 · excluded $104,740

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

    total $0

  • 7d · Net gain or loss

    total $0

  • 8a · Fundraising events: gross income

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0 · unrelated business $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $0

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $0

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $0

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $0

  • 10 · Payroll taxes

    total $0

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $0

  • 11c · Fees: accounting

    total $0

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $0

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $0

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $0

  • 17 · Travel

    total $0

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $0

  • 23 · Insurance

    total $0

  • 24a · Other expenses: GIFTS & AWARDS

    total $200

  • 24b · Other expenses: OTHER EXPENSES

    total $26

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $461,400 · end of year $465,793

  • 2 · Savings and temporary cash investments

    beginning of year $1,912,322 · end of year $2,294,310

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $100,831 · end of year $48,330

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $254 · end of year $254

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

    $2,261,165

  • 10c · Land, buildings and equipment, net

    beginning of year $2,261,165 · end of year $2,261,165

  • 11 · Investments: publicly traded securities

    beginning of year $2,395,373 · end of year $2,500,103

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $15,508,475 · end of year $20,260,587

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,944 · end of year $1,944

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $395,944 · end of year $395,944

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $0 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $22,241,932 · end of year $27,432,654

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

Mission and programs · 2024

Mission

TO PURCHASE, OWN, LEASE AND OPERATE REAL PROPERTY FOR THE BENEFICIAL INTEREST OF 1199SEIU UNITED HEALTHCARE WORKERS EAST.

  • PURCHASED, OWNED, LEASED, AND OPERATED REAL PROPERTY FOR THE BENEFICIAL INTEREST OF 1199SEIU UNITED HEALTHCARE WORKERS EAST.

As filed on the 2024 return.

Listed in Part VII

  • George Gresham

    PRESIDENT

    Total calculated
    $416,633
    From this org
    $0
    From related orgs
    $284,999
    Other
    $131,634
    Hours/week
    2.5 + 37.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $253,359 related
    Bonus
    $0
    Other
    $0 + $31,640 related
    Deferred
    $0 + $28,543 related
    Nontaxable benefits
    $0 + $103,091 related
    Filer's total
    $0 + $416,633 related

  • Lucy Chen

    CFO

    Total calculated
    $413,903
    From this org
    $0
    From related orgs
    $272,200
    Other
    $141,703
    Hours/week
    2.5 + 37.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $272,200 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $30,714 related
    Nontaxable benefits
    $0 + $110,989 related
    Filer's total
    $0 + $413,903 related

  • Teresa Tripodi

    DIRECTOR OF FINANCE

    Total calculated
    $381,078
    From this org
    $0
    From related orgs
    $266,049
    Other
    $115,029
    Hours/week
    2.5 + 37.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $224,585 related
    Bonus
    $0
    Other
    $0 + $41,464 related
    Deferred
    $0 + $25,292 related
    Nontaxable benefits
    $0 + $89,737 related
    Filer's total
    $0 + $381,078 related

  • Milagros Silva-Bermudez

    SECRETARY TREASURER

    Total calculated
    $331,450
    From this org
    $0
    From related orgs
    $224,957
    Other
    $106,493
    Hours/week
    2.5 + 37.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $203,749 related
    Bonus
    $0
    Other
    $0 + $21,208 related
    Deferred
    $0 + $23,008 related
    Nontaxable benefits
    $0 + $83,485 related
    Filer's total
    $0 + $331,450 related

  • Yvonne Armstrong

    SR. EXEC. VICE PRESIDENT

    Total calculated
    $292,806
    From this org
    $0
    From related orgs
    $198,496
    Other
    $94,310
    Hours/week
    2.5 + 37.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $178,320 related
    Bonus
    $0
    Other
    $0 + $20,176 related
    Deferred
    $0 + $20,375 related
    Nontaxable benefits
    $0 + $73,935 related
    Filer's total
    $0 + $292,806 related

  • Simone Gallo

    ASSISTANT CONTROLLER

    Total calculated
    $161,505
    From this org
    $0
    From related orgs
    $108,532
    Other
    $52,973
    Hours/week
    2.5 + 37.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $100,398 related
    Bonus
    $0
    Other
    $0 + $8,134 related
    Deferred
    $0 + $11,518 related
    Nontaxable benefits
    $0 + $41,455 related
    Filer's total
    $0 + $161,505 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

  • 3 · Compensation committee
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

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

The filer's explanations (Part III)

PART I, LINE 3 - ESTABLISHMENT OF TOP MANAGEMENT OFFICIAL'S COMPENSATION:
ARDEON DOES NOT COMPENSATE ITS OFFICERS. KEY STAFF ARE EMPLOYED AND COMPENSATED BY 1199SEIU UNITED HEALTHCARE WORKERS EAST (THE ), A RELATED ENTITY, WHICH BASES ITS COMPENSATION FOR OFFICERS AND OTHER KEY EMPLOYEES ON MARKET DATA FROM COMPARABLE ORGANIZATIONS USING INFORMATION FROM PUBLIC FILINGS AND OTHER AVAILABLE OUTSIDE SOURCES, INCLUDING RECRUITING EXPERTS. WAGE INCREASES FOR ALL POSITIONS ARE THE SAME AS THE CONTRACTUAL INCREASES NEGOTIATED BY THE UNION FOR ITS MEMBERS WHO ARE EMPLOYED BY INSTITUTIONS THAT ARE PART OF THE LEAGUE OF VOLUNTARY HOSPITALS AND HOMES.

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
2024
Filed
7 November 2025
IRS schema version
2024v5.2
Source object
202503179349301820

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