Overview
What is 28 Realty Inc?
28 Realty Inc is a nonprofit organization, functioning as a nominee for the Sheet Metal Workers' International Association Local Union No. 28. Their primary role involves holding title to real estate properties and collecting associated income. The income collected is subsequently channeled to the union, after deducting necessary expenses, in accordance with their exemption status under 501 (c) (5). The organization's primary activity revolves around real estate management, serving as a legal entity to facilitate property-related transactions on behalf of the union.
Is 28 Realty Inc legitimate?
28 Realty Inc is a legitimate nonprofit organization registered as a 501(c)(2) entity. 28 Realty Inc 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
For more financial information, click here
What is the mission statement of 28 Realty Inc?
28 Realty Inc's primary role is to serve as a nominee for the Sheet Metal Workers' International Association Local Union No. 28, holding title to real estate on their behalf. The main objective of 28 Realty Inc is to collect income from the properties and subsequently, after deducting expenses, transfer the net amount to the union. This arrangement is structured under the exemption of 501 (c) (5), indicating its status as a nonprofit organization.
Who is the CEO of 28 Realty Inc?
Salvatore Starace is the President/Bus Manager of 28 Realty Inc.
What is the revenue of 28 Realty Inc?
28 Realty Inc's revenue in 2022 was $82,030.
Who are the executives of 28 Realty Inc and what are their salaries?
Here are 2 key members and their salaries:
- Compensation: $0
- Related: $231,325
- Other: $179,474
- Compensation: $0
- Related: $193,529
- Other: $155,084
Where can I find the form 990 for 28 Realty Inc?
28 Realty Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of 28 Realty Inc
28 Realty Inc, as a nonprofit entity, is primarily tasked with holding title to real estate. This role serves a specific purpose, acting as a nominee on behalf of the Sheet Metal Workers' International Association Local Union No. 28. The organization's mission is to collect income generated from the real estate properties, meticulously deducting expenses, and subsequently transferring the remaining amount to the aforementioned union. This financial support is facilitated under the exemption status of 501 (c) (5), a classification that is typically assigned to organizations focused on promoting social welfare. The establishment of 28 Realty Inc as a title-holding entity for the union ensures the secure management of real estate assets, ultimately contributing to the financial stability of the Sheet Metal Workers' International Association Local Union No. 28.
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Impact
October, 2024
28 Realty Inc plays a crucial role in supporting the Sheet Metal Workers' International Association Local Union No. 28 by managing and holding title to real estate. This organization collects income generated from these properties and ensures that the entirety, minus any necessary expenses, is directed back to the union. By functioning as a nominee to manage these assets, 28 Realty Inc enhances the financial stability of the union, enabling it to better serve its members and contribute to community improvement initiatives. Through its operations, it facilitates not just economic support, but also fosters a stronger union presence and outreach, ultimately benefiting the workforce and the surrounding community in New York.
This information is meant to be a general summary of 28 Realty Inc. 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: $2,730
- Program Service Revenue: $79,300
- Gross Receipts: $82,030
Assets and Liabilities:
- Total Assets: $835,111
- Total Liabilities: $2,681,524
- Net Assets: -$1,846,413
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
BUILDING ASSESSMENTS
Revenue
$66,700
RENTAL INCOME
Revenue
$12,600
Organization Details
Founding Year
1988
Phone
(212) 941-7700Principal Officer
Salvatore Starace
Main Address
500 GREENWICH STREET 502, NEW YORK, NY, 10013
NTEE Category
Code: S47 - Community improvement
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