Overview
What is Local 78 Realty Corp?
Local 78 Realty Corp is a nonprofit organization based in Long Island City, New York. Its primary function is to act as a nominee for a union, holding title to real estate on its behalf. This role enables the union to own and manage properties without directly doing so, potentially providing financial and legal benefits. The organization's mission is centered around this specific purpose, serving as a facilitator for the union in real estate matters.
Is Local 78 Realty Corp legitimate?
Local 78 Realty Corp is a legitimate nonprofit organization registered as a 501(c)(2) entity. Local 78 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
For more financial information, click here
What is the mission statement of Local 78 Realty Corp?
Local 78 Realty Corp serves as a nominee for a union, maintaining ownership of real estate properties on its behalf. This role allows the union to benefit from property-related activities without directly managing the properties themselves. The corporation's primary objective is to act as an intermediary, safeguarding the union's interest in the real estate sector. By holding title to real estate properties, Local 78 Realty Corp supports the union in its broader operations and objectives. Although it does not have a traditional mission statement as other organizations, its role as a nominee for the union is instrumental in upholding the union's interests in the real estate sector.
What is the revenue of Local 78 Realty Corp?
Local 78 Realty Corp's revenue in 2024 was $295,276.
Who are the executives of Local 78 Realty Corp and what are their salaries?
Here are 8 key members and their salaries:
- Compensation: $0
- Related: $251,066
- Other: $115,647
- Compensation: $0
- Related: $228,963
- Other: $110,239
- Compensation: $0
- Related: $204,660
- Other: $103,855
- Compensation: $0
- Related: $198,134
- Other: $104,842
- Compensation: $0
- Related: $121,649
- Other: $84,168
- Compensation: $0
- Related: $118,467
- Other: $84,606
- Compensation: $0
- Related: $11,054
- Other: $0
- Compensation: $0
- Related: $7,288
- Other: $0
Where can I find the form 990 for Local 78 Realty Corp?
Local 78 Realty Corp's most recent form 990 was submitted in 2024 and can be accessed here.
Mission Statement of Local 78 Realty Corp
Local 78 Realty Corp serves as a nominee for a union by holding title to real estate. This role allows the union to utilize property without directly owning it, ensuring a legal and secure means of land possession. The corporation's mission is centered around acting as an intermediary for the union, providing a reliable and legal method for property acquisition and management. By performing this function, Local 78 Realty Corp plays a crucial role in supporting union activities and operations, providing the necessary infrastructure for union operations without the direct financial and legal responsibilities associated with property ownership.
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Impact
October, 2024
Local 78 Realty Corp plays a vital role in the community by serving as a nominee for the union, effectively holding title to real estate that supports the interests of its members. By managing and securing properties, the organization contributes to the stability and growth of the community in Long Island City, NY. This strategic approach allows the union to focus on its core mission while ensuring that important assets are effectively safeguarded and utilized. The impact of Local 78 Realty Corp is significant, as it not only fosters community improvement but also strengthens the union's presence and influence in the region.
This information is meant to be a general summary of Local 78 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 2024.
- Program Service Revenue: $295,076
- Gross Receipts: $295,276
Assets and Liabilities:
- Total Assets: $3,952,051
- Total Liabilities: $2,921,913
- Net Assets: $1,030,138
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$295,076
Organization Details
Founding Year
2001
Principal Officer
Pawel Gruchacz
NTEE Category
Code: S47 - Community improvement
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