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← LOCAL 338 REAL ESTATE HOLDING CORP

Form 990 for tax year 2022

Filed by LOCAL 338 REAL ESTATE HOLDING CORP.

Totals

Total revenue
$395,020
Total expenses
$602,805
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$388,800
Investment income
$0
Other revenue
$6,220
Total assets, end of year
$7,996,709
Total liabilities, end of year
$511,515
Net assets or fund balances, end of year
$7,485,194
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 $388,800 · related or exempt $388,800

  • 11a · Other revenue: PROPERTY TAX REFUND

    total $6,220 · related or exempt $6,220

  • 11e · Other revenue, total

    $6,220

Functional expenses

Part IX, the statement of functional expenses.

  • 11g · Fees: other

    total $562

  • 13 · Office expenses

    total $520

  • 16 · Occupancy

    total $239,905

  • 20 · Interest

    total $16,450

  • 22 · Depreciation, depletion and amortization

    total $298,112

  • 23 · Insurance

    total $47,256

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $211,158 · end of year $104,085

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

    $11,388,706

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

    $3,791,082

  • 10c · Land, buildings and equipment, net

    beginning of year $7,882,776 · end of year $7,597,624

  • 15 · Other assets

    beginning of year $255,000 · end of year $295,000

  • 24 · Unsecured notes and loans payable

    beginning of year $655,955 · end of year $511,515

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $10,857,668 · end of year $10,857,668

  • 31 · Retained earnings, endowment or other funds

    beginning of year -$3,164,689 · end of year -$3,372,474

Mission and programs · 2022

Mission

THE CORPORATION IS AUTHORIZED TO HOLD TITLE TO PROPERTY, COLLECT INCOME THEREFROM AND TURN OVER THE ENTIRE AMOUNT, NET OF EXPENSES, TO ITS PARENT ORGANIZATION, WHICH IS TAX EXEMPT.

  • THE CORPORATION IS AUTHORIZED TO HOLD TITLE TO PROPERTY, COLLECT INCOME THEREFROM AND TURN OVER THE ENTIRE AMOUNT, NET OF EXPENSES, TO ITS PARENT ORGANIZATION, WHICH IS TAX EXEMPT.

As filed on the 2022 return.

Listed in Part VII

  • John R Durso

    PRESIDENT

    Total calculated
    $402,645
    From this org
    $0
    From related orgs
    $353,557
    Other
    $49,088
    Hours/week
    2 + 55 related

    Schedule J breakdown matched by us

    Base
    $0 + $353,557 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $32,336 related
    Nontaxable benefits
    $0 + $16,752 related
    Filer's total
    $0 + $402,645 related

  • Joseph Fontano

    SECRETARY-TREASURER

    Total calculated
    $252,614
    From this org
    $0
    From related orgs
    $215,363
    Other
    $37,251
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $215,363 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $20,499 related
    Nontaxable benefits
    $0 + $16,752 related
    Filer's total
    $0 + $252,614 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
2022
Filed
1 November 2023
IRS schema version
2022v5.0
Source object
202323059349301792

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