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Nonprofiteer
← LOCAL NO 1 REALTY CORP

Form 990 for tax year 2023

Filed by LOCAL NO 1 REALTY CORP.

Totals

Total revenue
$1,098,767
Total expenses
$654,426
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$1,087,431
Investment income
$10,835
Other revenue
$501
Total assets, end of year
$5,225,842
Total liabilities, end of year
$720,288
Net assets or fund balances, end of year
$4,505,554
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 $1,055,326 · related or exempt $1,055,326

  • 2b · Program service revenue: ASSESSMENTS

    total $32,105 · related or exempt $32,105

  • 3 · Investment income

    total $10,835 · excluded $10,835

  • 11a · Other revenue: VENDING MACHINE

    total $501 · related or exempt $501

  • 11e · Other revenue, total

    $501

Functional expenses

Part IX, the statement of functional expenses.

  • 13 · Office expenses

    total $394

  • 16 · Occupancy

    total $344,461

  • 17 · Travel

    total $48

  • 22 · Depreciation, depletion and amortization

    total $309,121

  • 24a · Other expenses: VENDING MACHINE ITEMS

    total $402

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,180,764 · end of year $882,256

  • 2 · Savings and temporary cash investments

    beginning of year $578,781 · end of year $594,551

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

    $8,206,931

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

    $4,457,896

  • 10c · Land, buildings and equipment, net

    beginning of year $3,271,956 · end of year $3,749,035

  • 25 · Other liabilities

    beginning of year $970,288 · end of year $720,288

  • 27 · Net assets without donor restrictions

    beginning of year $4,061,213 · end of year $4,505,554

Mission and programs · 2023

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 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • LEONARD LEGOTTE

    PRESIDENT

    Total calculated
    $423,136
    From this org
    $0
    From related orgs
    $317,048
    Other
    $106,088
    Hours/week
    1 + 55 related

    Schedule J breakdown matched by us

    Base
    $0 + $317,048 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $68,219 related
    Nontaxable benefits
    $0 + $37,869 related
    Filer's total
    $0 + $423,136 related

  • MICHAEL RIEGGER

    SECRETARY-TREASURER

    Total calculated
    $375,259
    From this org
    $0
    From related orgs
    $269,171
    Other
    $106,088
    Hours/week
    1 + 56 related

    Schedule J breakdown matched by us

    Base
    $0 + $259,984 related
    Bonus
    $0
    Other
    $0 + $9,187 related
    Deferred
    $0 + $68,219 related
    Nontaxable benefits
    $0 + $37,869 related
    Filer's total
    $0 + $375,259 related

  • DENIS KILDUFF

    TRUSTEE

    Total calculated
    $366,072
    From this org
    $0
    From related orgs
    $259,984
    Other
    $106,088
    Hours/week
    1 + 55 related

    Schedule J breakdown matched by us

    Base
    $0 + $259,984 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $68,219 related
    Nontaxable benefits
    $0 + $37,869 related
    Filer's total
    $0 + $366,072 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
2023
Filed
4 September 2024
IRS schema version
2023v5.1
Source object
202442489349300449

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