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Nonprofiteer
← LOCAL 481 BUILDING CORP

Form 990 for tax year 2024

Filed by LOCAL 481 BUILDING CORP.

Totals

Total revenue
$427,248
Total expenses
$398,044
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$427,248
Investment income
$0
Other revenue
$0
Total assets, end of year
$1,358,265
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$1,358,265
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 $427,248 · related or exempt $427,248

Functional expenses

Part IX, the statement of functional expenses.

  • 16 · Occupancy

    total $258,636

  • 22 · Depreciation, depletion and amortization

    total $117,981

  • 24a · Other expenses: MISCELLANEOUS

    total $21,427

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $5 · end of year $5

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

    $3,648,073

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

    $2,289,813

  • 10c · Land, buildings and equipment, net

    beginning of year $1,280,354 · end of year $1,358,260

  • 27 · Net assets without donor restrictions

    beginning of year $1,280,359 · end of year $1,358,265

Mission and programs · 2024

Mission

TO HOLD TITLE TO REAL PROPERTY, COLLECTING INCOME THEREFROM, AND TURNING OVER THE ENTIRE AMOUNT THEREOF, LESS EXPENSES, TO LOCAL UNION NO. 481 OF THE INTERNATIONAL BROTHERHOOD OF ELECTRICAL WORKERS.

Activities or mission (Part I)

BUILDING CORPORATION

  • ESTABLISHED TO HOLD TITLE TO PROPERTY USED PRIMARLY BY UNION OFFICERS, UNION EMPLOYEES AND MEMBERS TO CONDUCT UNION BUSINESS AND BY THE RELATED BENEFIT TRUST, PENSION PLAN AND CREDIT UNION ALL OF WHICH ARE ESTABLISHED FOR THE BENEFIT OF IBEW LOCAL 481'S MEMBERS.

As filed on the 2024 return.

Listed in Part VII

  • Jeff Wheeler

    FINL SECY/BUS MGR

    Total calculated
    $196,052
    From this org
    $0
    From related orgs
    $123,616
    Other
    $72,436
    Hours/week
    1 + 48 related

    Schedule J breakdown matched by us

    Base
    $0 + $122,842 related
    Bonus
    $0
    Other
    $0 + $774 related
    Deferred
    $0 + $42,189 related
    Nontaxable benefits
    $0 + $30,247 related
    Filer's total
    $0 + $196,052 related
  • Roger Brunk

    VICE PRESIDENT

    Total calculated
    $1,136
    From this org
    $0
    From related orgs
    $909
    Other
    $227
    Hours/week
    1 + 1 related
  • Brian Secor

    RECORDING SECRETARY

    Total calculated
    $7,854
    From this org
    $0
    From related orgs
    $5,330
    Other
    $2,524
    Hours/week
    1 + 1 related
  • Clifton Pittman

    EXECUTIVE BOARD

    Total calculated
    $1,657
    From this org
    $0
    From related orgs
    $1,657
    Other
    $0
    Hours/week
    1 + 1 related
  • Chris Grider

    PRESIDENT

    Total calculated
    $13,503
    From this org
    $0
    From related orgs
    $9,000
    Other
    $4,503
    Hours/week
    1 + 1 related
  • Gary Newcom

    EXECUTIVE BOARD

    Total calculated
    $2,834
    From this org
    $0
    From related orgs
    $2,401
    Other
    $433
    Hours/week
    1 + 1 related
  • Chad Ison

    EXECUTIVE BOARD

    Total calculated
    $9,040
    From this org
    $0
    From related orgs
    $6,165
    Other
    $2,875
    Hours/week
    1 + 1 related
  • Blake Andrews

    TREASURER/ASST BUS MGR

    Total calculated
    $187,698
    From this org
    $0
    From related orgs
    $117,300
    Other
    $70,398
    Hours/week
    1 + 48 related

    Schedule J breakdown matched by us

    Base
    $0 + $116,526 related
    Bonus
    $0
    Other
    $0 + $774 related
    Deferred
    $0 + $40,151 related
    Nontaxable benefits
    $0 + $30,247 related
    Filer's total
    $0 + $187,698 related
  • Kendrick Carpenter

    EXECUTIVE BOARD

    Total calculated
    $6,361
    From this org
    $0
    From related orgs
    $4,515
    Other
    $1,846
    Hours/week
    1 + 1 related
  • Esa Jones

    EXECUTIVE BOARD

    Total calculated
    $8,382
    From this org
    $0
    From related orgs
    $5,865
    Other
    $2,517
    Hours/week
    1 + 1 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
2024
Filed
24 March 2025
IRS schema version
2024v5.1
Source object
202530839349300858

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