Overview
What is 52 Broadway Realty Corp?
52 Broadway Realty Corp is a corporation established specifically for leasing land and a building located at 52 Broadway, New York, NY. This real estate transaction is a long-term net lease, and the beneficiary of this arrangement is the United Federation of Teachers, Local 2 – an exempt organization. The corporation incurred gross expenses to facilitate this lease agreement on behalf of the United Federation of Teachers.
Is 52 Broadway Realty Corp legitimate?
52 Broadway Realty Corp is a legitimate nonprofit organization registered as a 501(c)(2) entity. 52 Broadway Realty Corp submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of 52 Broadway Realty Corp?
52 Broadway Realty Corp was established with the primary objective of facilitating a long-term net lease agreement for land and a building on behalf of a not-for-profit organization. The corporation's purpose is centered around this real estate transaction to provide the necessary space for the organization to carry out its mission effectively. The long-term net lease agreement will enable the organization to secure a permanent home for its operations. The corporation incurs expenses related to the lease agreement to ensure a successful transaction for the benefit of the exempt organization.
Who is the CEO of 52 Broadway Realty Corp?
Michael Mulgrew is the President of 52 Broadway Realty Corp.
What is the revenue of 52 Broadway Realty Corp?
52 Broadway Realty Corp's revenue in 2022 was $14,655,057.
Who are the executives of 52 Broadway Realty Corp and what are their salaries?
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $341,368
- Other: $58,691
- Compensation: $0
- Related: $101,057
- Other: $23,309
- Compensation: $0
- Related: $235,497
- Other: $51,855
Where can I find the form 990 for 52 Broadway Realty Corp?
52 Broadway Realty Corp's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of 52 Broadway Realty Corp
52 Broadway Realty Corp, established with the primary objective, was formed to facilitate a long-term net lease agreement for land and a building on behalf of the United Federation of Teachers, Local 2. This New York-based corporation's mission revolves around securing a lease for an exempt organization, ensuring a long-term commitment to the transaction.
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Impact
October, 2024
52 Broadway Realty Corp plays a significant role in supporting the United Federation of Teachers, Local 2, by facilitating a long-term net lease for the land and building located at 52 Broadway, New York, NY. This strategic lease arrangement ensures that the United Federation of Teachers has a stable and dedicated space to operate from, which is essential for their mission of advocating for educators and promoting educational excellence.
By managing the leasing process, 52 Broadway Realty Corp alleviates financial pressures associated with real estate transactions, allowing the United Federation of Teachers to allocate more resources toward initiatives that benefit educators and students. The corporation's efforts contribute to the overall strength and stability of the educational community in New York City, especially in the context of providing a headquarters for union activities.
Additionally, this arrangement may help foster collaboration and engagement among teachers, reinforcing unity within the organization while promoting an environment where educators can effectively discuss policies, training, and support systems that impact their profession.
This information is meant to be a general summary of 52 Broadway Realty Corp. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $1,812
- Program Service Revenue: $13,636,764
- Gross Receipts: $14,655,057
Assets and Liabilities:
- Total Assets: $48,356,430
- Total Liabilities: $65,474,108
- Net Assets: -$17,117,678
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$9,354,410
REIMBURSEMENTS FROM TENANTS
Revenue
$4,282,354
Organization Details
Founding Year
2002
Phone
(212) 777-7500Principal Officer
Michael Mulgrew
Main Address
52 BROADWAY, NEW YORK, NY, 10004
NTEE Category
Code: Z99 - Unknown
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