50 Broadway Realty Corp

Learn about this cause: Is it Legit? Do I like the mission? What is the CEO's salary?

EIN: 020555262 ✦ New york, NY ✦ Designated as a 501(c)(2)

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Overview

What is 50 Broadway Realty Corp?

50 Broadway Realty Corp is a nonprofit organization established for the purpose of acquiring and managing real property situated at 50 Broadway, New York, New York, on behalf of the United Federation of Teachers, Local 2. The corporation incurs gross expenses related to holding the title for this exempt organization. Their mission is centered around the acquisition and operation of the property, serving as a subsidiary entity for the United Federation of Teachers. They currently employ a team of ten individuals.

Is 50 Broadway Realty Corp legitimate?

50 Broadway Realty Corp is a legitimate nonprofit organization registered as a 501(c)(2) entity. 50 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: $791,769

For more financial information, click here

What is the mission statement of 50 Broadway Realty Corp?

50 Broadway Realty Corp was established for the primary purpose of acquiring and managing real property on behalf of a specific exempt organization, the United Federation of Teachers, Local 2. The corporation's mission revolves around facilitating the acquisition and operation of real estate assets for the benefit of this organization. The gross expenses incurred by the corporation in holding title to the property are geared towards furthering the objectives of the exempt organization. This real estate management allows the organization to focus on its core activities without being burdened by the day-to-day responsibilities of property ownership. The collaboration between the corporation and the exempt organization aims to create an efficient and effective use of resources for the betterment of the organization as a whole.

Who is the CEO of 50 Broadway Realty Corp?

Michael Mulgrew is the President of 50 Broadway Realty Corp.

What is the revenue of 50 Broadway Realty Corp?

50 Broadway Realty Corp's revenue in 2022 was $16,189,353.

Who are the executives of 50 Broadway Realty Corp and what are their salaries?

The average compensation at 50 Broadway Realty Corp during 2022 was $79,177. There are 10 employees at 50 Broadway Realty Corp.


Here are 8 key members and their salaries:


Michael Mulgrew (President)
  • Compensation: $0
  • Related: $341,368
  • Other: $58,691
Debra Penny (Treasurer)
  • Compensation: $0
  • Related: $101,057
  • Other: $23,309
Leroy Barr (Secretary)
  • Compensation: $0
  • Related: $235,497
  • Other: $51,855
Kevin Ridder (Bldg Maintenance)
  • Compensation: $235,866
  • Related: $0
  • Other: $67,582
Charles Hohmann (Bldg Maintenance)
  • Compensation: $202,289
  • Related: $0
  • Other: $66,761
David Hickey (Bldg Manager)
  • Compensation: $167,228
  • Related: $0
  • Other: $0
Maurice O'Leary (Bldg Maintenance)
  • Compensation: $134,956
  • Related: $0
  • Other: $51,698
Frank Finamore (Bldg Maintenance)
  • Compensation: $121,264
  • Related: $0
  • Other: $50,003
Where can I find the form 990 for 50 Broadway Realty Corp?

50 Broadway Realty Corp's most recent form 990 was submitted in 2022 and can be accessed here.

Mission Statement of 50 Broadway Realty Corp

50 Broadway Realty Corp, established with the primary objective, was formed to acquire and manage real property on behalf of the United Federation of Teachers, Local 2. This nonprofit corporation's mission is centered around the acquisition and operation of real estate holdings for the benefit of the named organization.

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Impact




October, 2024

50 Broadway Realty Corp plays a significant role in managing real estate to support educational professionals in New York. By acquiring and operating the property located at 50 Broadway, the organization creates a dedicated space for the United Federation of Teachers, Local 2. This endeavor not only secures a physical location for the union but also promotes a sense of community and collaboration among educators. The management of the building signifies a commitment to enhancing working conditions for teachers, ultimately benefiting the educational landscape in New York City. The corporation's efforts contribute to the overall stability and efficacy of the union, allowing it to better advocate for the needs and rights of its members.




This information is meant to be a general summary of 50 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.

Revenue
$16,189,353 (2022)
Expenses
$15,328,501 (2022)
Efficiency

Other financial information:

This information is from the most recently submitted tax form from this organization, which was in 2022.

  • Investment Income: $84,593
  • Program Service Revenue: $16,104,760
  • Gross Receipts: $23,342,634

Assets and Liabilities:

  • Total Assets: $103,829,676
  • Total Liabilities: $85,764,794
  • Net Assets: $18,064,882

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Programs

Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.

RENTAL INCOME

Revenue

$14,664,251

REIMBURSEMENT FROM TENANTS

Revenue

$1,283,001

Organization Details

Founding Year

2002

Principal Officer

Michael Mulgrew

Main Address

52 BROADWAY, NEW YORK, NY, 10004

NTEE Category

Code: Z99 - Unknown

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